MONDAY 4TH APRIL 2022 by THISDAY Newspapers Ltd

FG Banks on Shell, TotalEnergies' Projects to Add 800,000 Barrels to Daily Production Again, OPEC fails to meet planned oil production volume in March Crude records highest weekly slump in over 10 years Emmanuel Addeh in Abuja and Peter Uzoho The federal government is targeting

to add 800,000 barrels to Nigeria's daily oil production from some important upstream projects being executed by Shell, TotalEnergies,

and other oil companies, which had stalled due to funding and other reasons. Chief Executive Officer, Nigerian Upstream Petroleum

Regulatory Commission (NUPRC), Gbenga Komolafe, disclosed this in Abuja at the 2022 Oloibiri Lecture Series and Energy Forum

(OLEF) organised by the Society of Petroleum Engineers (SPE) Nigeria. Represented at the occasion by his Special Technical Adviser, Mr.

Abel Nsa, Komolafe listed some of the projects government was Continued on page 5

2nd Niger Bridge Linked, Engineering Work Completed, to Be Unveiled October... Page 8 Monday 4 April, 2022 Vol 27. No 9855. Price: N250

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2023: Presidency Says, PDP Govs are Delusional

Deji Elumoye in Abuja L-R: Minister of Sports and Youth Development, Sunday Dare; Minister of Information and Culture, Lai Mohammed; Central Bank of Nigeria (CBN) Governor, Godwin Emeﬁele; Lagos State Governor, Babajide Sanwo-Olu; GMD/CEO, Access Bank and Chairman, Body of Bank CEOs, Herbert Wigwe, and GMD, GTCO Plc, Segun Agbaje, during an assessment tour of the ongoing renovation project at the National Theatre, Iganmu , Lagos….recently

The Presidency, last night, lambasted the 13 opposition Peoples Democratic Party (PDP) Continued on page 5

Obasanjo: Buhari is Overwhelmed, Nigeria in Serious Situation Agrees with federal lawmakers that nowhere is safe again ACF, Afenifere, PDP caution against use of mercenaries to fight terrorists Seven of 11 coaches rerailed to safety after train attack, 80 meters of affected tracks repaired Deji Elumoye, Chuks Okocha, Kasim Sumaina in Abuja, James Sowole in Abeokuta and John Shiklam in Kaduna Former President Olusegun Obasanjo, yesterday, said Nigeria’s security crisis was reaching a tipping point, stressing that

the situation is made even more serious as President Muhammadu Buhari seems overwhelmed by the country’s problems. Obasanjo, who spoke in Abeokuta, was reacting to the recent bomb attack on an Abuja-Kaduna train, which Continued on page 5

CELEBRATION OF LIFE... Vice President Yemi Osinbajo, SAN, (L ) having tête-à-tête with Lady Christine Doja Otedola, during her 90th Birthday and Church Dedication of St Peter's Catholic Church in Epe built by her, in Lagos… yesterday

Obasanjo, Osinbajo, Sanwo-Olu, Fayemi, Obaseki, Emefiele, Saraki, Dangote, Others Fete Lady Doja Otedola at 90... Page 10

MONDAY APRIL 4, 2022 • T H I S D AY

T H I S D AY • MONDAY, APRIL 4, 2022

PAGE FIVE OBASANJO: BUHARI IS OVERWHELMED, NIGERIA IN SERIOUS SITUATION killed eight persons, with many other passengers kidnapped or missing. The former president agreed with the position of some members of the House of Representatives, who declared last week that nowhere was safe in the country. That was as the foremost northern socio-political body, Arewa Consultative Forum (ACF); the pan-Yoruba socio-cultural group, Afenifere; and the main opposition Peoples Democratic Party (PDP) cautioned against the proposal to use mercenaries in the fight against terrorists in the country. The idea of resorting to mercenaries was mooted recently by the Kaduna State governor, Malam Nasir El-Rufai, after confessing he was “angry, frustrated and felt totally helpless” over the activities of terrorists. But, in a welcome development, the Nigerian Railway Corporation (NRC), yesterday, said it had successfully re-railed seven out of the 11 coaches that were affected on the Kaduna-bound AK9 train, when it was attacked by terrorists. NRC also said 80 metres of the affected rail tracks had been repaired. Obasanjo said recent happenings had shown that Nigerians were no longer safe anywhere in the country, whether in vehicles, on the train or at the airport. Speaking at the Olusegun Obasanjo Presidential Library, inside his residence, in Abeokuta, the Ogun State capital, while receiving a PDP presidential aspirant, Dr. Ugochukwu Williams, and his team, Obasanjo lamented that Nigerians “are no longer safe on the road, on the train and at the airport.” He called for a concerted effort by stakeholders to stem the tide of insecurity in the country. The former president said the present government was overwhelmed by the situation, cautioning, however, that Nigerians must not allow the problem to overcome the country. He said, “So, if anybody comes to say I want to see you, I want to talk to you, I will say ‘you’re welcome’. This is because I believe very strongly, and I have said it publicly and I will say it again that the situation we are in this country is not a situation, where one man will say, yes, he has a solution, unless we are deceiving ourselves. I believe we need to sit down collectively and look at the situation. “A situation where you are not safe on the road, you are not safe on the train, you are not safe at the airport, shows a very serious situation. I believe that all right-thinking Nigerians must know that we have a situation that has overwhelmed the present administration, but we should not allow that situation to overwhelm Nigeria.” Obasanjo wished Williams well in the pursuit of his presidential ambition. In his remarks, Williams, flanked by House of Representatives

aspirants from Plateau and Imo states, said he had, with regard to his presidential ambition, visited Obasanjo for consultation. The presidential hopeful described the former president as a leader, who was passionate about the peace and unity of Nigeria. Williams said he was on a mission to “rescue Nigeria.”

ACF Cautions Against Use of Mercenaries in Anti-terrorist War Arewa Consultative Forum (ACF) warned against the use of mercenaries in the fight against terrorists in the country. Kaduna State Governor, Nasir El-Rufai, whose state had of recent been under deadly attacks by terrorists, was reported as saying he, alongside four other governors in the North-west, would hire foreign mercenaries to fight terrorists if the military failed to end the persistent attacks. El-Rufai had said during an interview last Friday with journalists, after briefing Buhari on the attacks in his state, at the Presidential Villa, Abuja, “Why is it that up till now the security has not gone to kill them (terrorists)? Where are our soldiers? Why have they not done it? That is why I have come to see Mr President. “And also I have said that if these actions are not taken, it becomes a must for us as governors to take measures to protect our citizens, even if it means we will import mercenaries from outside the country to do it. “If our soldiers fail, I swear to God, we will do that. This issue has gotten to an alarming state.” But ACF, in a statement yesterday in Kaduna, signed by its Secretary General, Murtala Aliyu, warned, “Inviting mercenaries to fight our cause must be treated with utmost caution.” The forum said it understood the frustration of the governors over the security situation, but noted that the country should avoid any haphazard approach to its problems. It maintained, “The security of the country rests on the central government and calls for cursory, calm, implementable and lasting solution.” Similarly, on the proposal to escort trains from Abuja to Kaduna, and Ibadan to Lagos or the Itakpe routes by the Nigerian Air Force, the forum urged security agencies to redesign their strategies and operations by deploying machinery and manpower to launch attacks on bandit and terrorist enclaves. ACF stated, “Dedicating such operations to only railway lines shall make air and road users more vulnerable to such attacks. The new dimension of the terror attacks in the country, both on human and infrastructure, calls for total war. “The authorities may look at the possibility of utilising volunteers, such as the ex-servicemen and women, the civilian task forces, hunters and whatever is available

to make every inch of Nigeria habitable and peaceful. “We must appreciate the responsibility bestowed on us by providence as the largest black nation and as a leader on our continent, must do everything within our powers to keep Nigeria stable and strong.”

Afenifere: Inviting Mercenary is Ominous Afenifere flayed the suggestion by the Kaduna State governor, Mallam Nasir El-Rufai, to invite foreign mercenaries to fight terrorism in the state, saying it

represents an ominous sign for the country. Afenifere, in a statement by its National Publicity Secretary, Comrade Jare Ajayi, said the idea, coming from one of the closest allies of Buhari and a top member of the ruling All Progressives Congress (APC), whose state faced grave security challenges, “calls for serious interrogation and action on the part of all those who should act.” Afenifere said the fact that El-Rufai made the suggestion immediately after a meeting with the president could be an indication that what the

governor heard from Buhari, as the Commander-in-Chief of the Armed Forces, was not reassuring enough. According to Afenifere, "For, were Rufai to be convinced with the readiness of the federal government to confront the security situation, he would not have talked about seeking an alternative action, particularly, seeking the help of foreign mercenaries. This point is very important to be borne in mind as we interrogate the security problems confronting us today. “For, hiring the services of foreign mercenary is certainly

beyond the power of any state governor, according to the Constitution of the Federal Republic of Nigeria. And El-Rufai knows this so well. So, for him to assert that he (and a few of his colleagues) will resort to this option could be a pointer to certain things that had hitherto not been so clear to members of the public. “Among those could be the possibility that, perhaps, armed foreigners are already in our midst. It could also be a pointer to the fact that El-Rufai saw some kind of unwillingness on the part of the Continued on page 53

FG BANKS ON SHELL, TOTALENERGIES' PROJECTS TO ADD 800,000 BARRELS TO DAILY PRODUCTION relying on to boost production to include TotalEnergies' Preowei project, Shell's Bonga South-west Aparo, and Bonga North projects, as well as other projects being executed by other companies. He stated, “Some of these projects, including the Preowei project, the Bonga South West Aparo project, the Bonga North project, and a host of others, when completed, all have the combined capacity to add upwards of 800,000 BOPD to Nigeria’s production figures.” Preowei is a deep-water hydrocarbon pool located north of the Egina field in the Oil Mining Lease (OML) 130, off Nigeria. Discovered in 2003, Preowei has a subsea tank with over 150 million barrels of oil and gas equivalent and is expected to pump about 50,000 barrels of oil per day at peak. The field development plan entails a subsea tie back to the Egina field Floating Production, Storage and Offloading (FPSO) facility Final Investment Decision (FID) on Preowei was fixed for fourth quarter of 2020, but was stalled following the suspension of the project same year by TotalEnergies due to COVID-19 constraints, concerns around new fiscal provisions in Nigeria's oil sector, as well as the collapse of oil prices at the time. Shell's Bonga South West FPSO, with the capacity to pump 150,000 barrels per day, is another project government is relying on to boost daily oil production by 800,000 barrels. Bonga South-west was planned to add around one billion barrels to Nigeria's oil reserves. However, in February, the contract for the development of the FPSO unit for Bonga South-west was delayed, as the tendering process was put on hold till 2024. Bonga, Nigeria's first deep-water oil field, currently has the capacity to produce 225,000 b/d of crude oil and 150 MMcf/d of gas, which feeds the Nigeria Liquefied Natural Gas (NLNG) plant at Bonny. Shell had previously said it would develop the Bonga Southwest project across three phases with a total potential yield of 3.2 billion barrels. Developing the Bonga South-west would cost $10 billion, according to estimates by NNPC, the concessionaire of the field. The bulk of Bonga South-west's

Meanwhile, the Organisation of Petroleum Exporting Countries (OPEC) and its allies, OPEC+, failed to achieve their target crude oil production, despite the modest volume it was scheduled to release in March, THISDAY has learnt. The oil producers’ group only succeeded in adding 90,000 barrels per day of its planned additional 400,000 barrels per day, with only Saudi Arabia, and its neighbour, the United Arab Emirates, significantly increasing production during the month. Many other member nations, such as Nigeria, pumped well below

quota mainly due to declining investment and operational disruptions, which had eroded their capacity for some time. OPEC had consistently rejected requests for an increase in production, even as the Russian invasion of Ukraine shook markets and boosted prices to $139 per barrel a few weeks ago. The group insisted that it will stick to the regime of careful increases in supply agreed last year. Although the cartel’s operations data for each month, popularly called the Monthly Oil Market Report (MOMR), had yet to be released for April, covering activities for March, a secondary survey by Bloomberg revealed that the 13 members of OPEC produced an average of 28.6 million barrels per day during the month. The figures are based on ship tracking data, information from officials and estimates from consultants, such as Rystad Energy AS and JBC Energy GmbH, which represent sources, other than those directly released by OPEC. After its meeting last week, the cartel raised Nigeria’s production quota from April’s 1.735 million barrels per day to 1.753 million barrels per day in May, even though the country has been struggling to meet lower production allocations. The country has been constrained in meeting its OPEC quota for months, and as at the last production circle had as much as 300,000 barrels per day deficit, mainly due to theft, ageing upstream infrastructure, and sabotage, as well as technical reasons. Despite the over 1.7 million barrels per day output allowed by the oil producers, the country had managed to increase production to about 1.4 million bpd, the highest in recent times, going by the latest OPEC review. For Nigeria, while production challenges remain, the country’s rig count was up by two in February, pushing it to eight from the initial six. After piling pressure on the cartel to increase supply for months without success, the United States and its allies have also decided to release at least 1 million barrels per day into the market to tame rising prices. The Sanusi Barkindo-led group has, however, objected to the request

to pump more oil, insisting that markets are not yet experiencing shortages and there is a balance between demand and supply at the moment. According to the group, whatever is happening in the market, like the Russia-Ukraine war, are extraneous to its activities. Meanwhile, oil posted its biggest weekly loss in more than 10 years after the Joe Biden administration ordered an unprecedented release of US strategic reserves to tame rampaging prices. West Texas Intermediate dropped one per cent early Saturday and over $14 this week, the most since 2011 as the US plans to release 1 million barrels a day for six months. Members of the International Energy Agency (IEA) also agreed to release another round of crude stockpiles, with volumes to be decided later, although the US expects them to release an additional 30 million to 50 million barrels. Biden’s decision follows rocketing gasoline prices in America and concerns about supply shortages following Russia’s invasion of Ukraine. The war has roiled global commodity markets and driven up the price of everything from fuels to food. It has also led to tumultuous trading in oil, with massive intraday swings throughout March. WTI for May delivery fell $1.01 to settle at $99.27 a barrel while Brent for June settlement fell 32 cents to settle at $104.39 a barrel. The U.S. already tapped its reserves twice in the past six months, but that has done little to cool prices. The Biden administration’s giant oil release contrasts sharply with OPEC+, which on Thursday ratified a planned, modest production increase of about 430,000 barrels a day. Contributing to the week’s slide, also, were concerns about Chinese demand as the world’s biggest oil importer implements a series of lockdowns to curb a resurgence of COVID-19. Added to that, in spite of pressure from the European Union (EU) for Nigeria to ramp up its gas production, it has been unable to do so, as it neither has the funding nor the infrastructure. Russia produces up to 40 per cent of Europe’s total gas consumption.

the nation had an army full of phantom soldiers, whose pay went to PDP politicians’ pockets while our under-resourced real soldiers died in the fight against terrorist insurgents and our international allies refused to supply Nigeria kit and military aid. "Today, with the APC, the army is resourced, we have fighter jets from our partners, Boko Haram is being driven from every inch of Nigerian territory, and ISWA’s leader eliminated in a Nigerian airstrike. "We cannot ignore how PDP politicians sought – and continue to seek – to inflame ethnic and religious tensions by refusing to even proffer a solution to the herder-farmer clashes, which became most prevalent under their misrule. "Today, with APC in government, there are ranches on federal land and in state land, where there is

the willingness to establish them. Clashes are reduced. Lives are saved, and livelihoods are enriched. "We will always remember how PDP politicians intentionally encouraged and exploited the black market in currency exchange to convert ill-gotten gains to foreign currency and undermine our national currency, then spirited their funds abroad in their billions and into foreign bank accounts. "Today, with APC we support our national currency; we have achieved self-sufficiency in rice and fertilizer production; we refuse to allow greedy politicians and businessmen to hide their money overseas, and instead, build an economy here in Nigeria for all. "We will always know how PDP politicians raided the NNPC, consistently failed to pay into the Federation Account and, in the last year of PDP misrule, $20 billion dollars was simply found ‘missing’.

"Today, with APC, funds from NNPC are directly and transparently used to fund social and health programmes – such as COVID-19 response, the construction of roads, bridges and rail, and equipping of hospitals to cope with new and existing challenges. "And then there are those PDP leaders in attendance, who signed the communiqué. Who would trust such people with the running of our country? Who can believe a word these people say, as they looked outwardly stylish but harrowed by power-sharing and other troubles inwardly? "These people, who play politics of division and hate, create communal disturbances, need to change. The governors reeled out numbers on the economy, pretending as if the once-in-a-life COVID-19 pandemic, with its huge and devastating effect, disrupting global supply chains, uniformly battering the world economy never happened.

resources are located in OML 118, but it also extends into OMLs 132 and 140, operated by US major Chevron, where it is called Aparo. Other partners in the project are France's TotalEnergies and Italy's Eni. Nigeria has been grossly underperforming in oil production, with Africa's largest oil producer failing to meet its production quota by the Organisation of Petroleum Exporting Countries (OPEC) for many months running. Despite the country's 37 billion oil reserve, its production hovered abysmally low at 1.5 million per day, against the country's normal 2.2 million bpd capacity. The poor production performance had been blamed on multiplicity of factors, including massive oil theft, non-starting of oil platforms, underinvestment, and divestment by the international oil companies (IOCs). Komolafe noted that with the commission now empowered by the Petroleum Industry Act (PIA), the government could embark on the projects. To meet the increasing global energy demand, he said the federal government was set to embark on further exploration, adding that government also plans to embark on development drilling in its bid to optimise reservoir extraction. "The federal government is also ready to drill into new targets and employ technological advances to increase production outputs for appropriate energy mix," the NURPC boss stated.

Again, OPEC Fails to Meet Planned Oil Production Volume in March

2023: PRESIDENCY SAYS, PDP GOVS ARE DELUSIONAL governors over their position a fortnight ago that the ruling All Progressives Congress (APC) was unfit to participate in the 2023 general election. APC said the governors were delusional and only sought to cover up their criminal failures and damaging PDP years. PDP governors had passed a damning verdict on the APC administration of President Muhammadu Buhari at a meeting on March 24, at the Umuobiakwa country home of their Vice Chairman and Abia State Governor, Okezie Ikpeazu. The meeting had 12 governors and a deputy governor in attendance. In a nine-point communiqué at the forum read by Chairman of the PDP governor’s forum and Sokoto State Governor, Aminu Tambuwal, the opposition governors said should APC insist on contesting the forthcoming general election,

despite its woeful failure in every aspect of national life, Nigerians should reject the ruling party outright at the polls. However, in a statement by Senior Special Assistant to the President (Media and Publicity), Mallam Garba Shehu, the presidency rejected the PDP communiqué and described it as a work of fiction by those who believed black was white, and one plus one equalled three. Shehu threw the blame back at the opposition party, and highlighted the alleged damage done by PDP in its 16-year administration, as well as how the APC government had worked in the last seven years to refocus the country. The statement said the PDP governors’ declaration sought to cover up the failures of the party in office, which the Buhari administration and APC had

attempted in the past seven years to repair. It further carpeted the governors of the opposition party, who were signatories to the communiqué, stressing that their antecedents make them unfit for the trust of Nigerians. The presidency alleged that the PDP governors were persons who had long profited from playing divisive politics, and fanning hate. The statement read, "The rejected Peoples Democratic Party (PDP) fantasy communiqué is a work of fiction by those, who truly believe black is white and one plus one equals three. “This statement of the delusional seeks to cover up the serial and criminal failures of the PDP long and damaging period in office, which the Muhammadu Buhari administration and All Progressives Congress (APC) have strived these past seven years to repair. "We cannot forget under PDP,

T H I S D AY • MONDAY, APRIL 4, 2022

NEWS

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

CELEBRATING MAMA OTEDOLA @90... L-R: Edo State Governor, Godwin Obaseki; Ekiti State Governor, Kayode Fayemi; First Lady of Lagos State Dr. Ibijoke Sanwo-Olu; Her husband/Lagos State Governor, Babajide Sanwo-Olu, and Vice President, Yemi Osinbajo, during Lady Christine Doja Otedola’s 90th Birthday and Dedication of St. Peter’s Catholic Church built by her in Epe in Lagos… yesterday

Amaechi: Despite Successes in Ports Operations, Challenges Remain Enormous Says excessive delays, corruption leading to high cost of doing business Emmanuel Addeh in Abuja The Minister of Transportation, Mr. Rotimi Amaechi, has said despite successes recorded in ensuring efficiency in the ports in Nigeria, several challenges still confront efforts to ensure efficiency in their activities. Specifically, Amaechi who

spoke at the “Roundtable discussion Agenda,” organised by the Convention on Business Integrity (CBI) and the Maritime Anti-Corruption Network (MACN), in Abuja, admitted that red tapes, rent seeking, corrupt demands, human and vehicular congestion and illegal charges remained critical issues

to be resolved. Speaking on the theme: “A Maritime Sector Fit for Purpose,” the minister, who was represented by the Permanent Secretary in the ministry, Dr. Magdalene Ajani, however stated that port users are now able to demand, track and ensure great compliance with standard operating procedures

NISA: Staff Salaries at Garki Hospital Gulped N10bn in 15 Years Onyebuchi Ezigbo in Abuja The management of NISA Group, operators of the PublicPrivate-Partnership agreement at the Garki Hospital in Abuja has disclosed that it spent N10 billion to sustain payment of its workers’ salaries in the last 15 years. The group whose 15-year PPP concession agreement with the Federal Capital Territory administration, original owners of the Garki General Hospital has expired, said it had made significant progress in improving on the equipment and healthcare services at the hospital since it took over operations. Speaking in an interview with journalists in his office over the weekend, the Chief Medical Director, Dr. Adamu Onu, said apart from ensuring that there were no disruptions of service by strike, the hospital has trained more than 18 consultants and over 180 House Officers. "Like I said, during these 15 years, the concession has saved the government a whole lot of money, billions of naira. At least I know that in the last 15 years, we have spent over N10 billion in staff salaries alone, not to talk of how much we have invested in training or on equipment whereby people keep coming to have their tests done, get their results and treatment. We have saved government a whole lot of money," he said. "We have run completely as PPP arrangement at no cost to the government because government had not provided any subvention for this period of 15 years. We have attended

to patients non-stop and we had no strike. “We have also trained a number of doctors. As at today, we have trained over 18 consultants. We have trained over 180 House Officers and so we have continued to provide services since this period of time. "We have attended to more than two million patients in the hospital. We have also done a number of Kidney transplant, a number of open heart surgeries and while lot of other procedures as well. We have been given patients treatment at an accessible and affordable rate," he said. When asked about the implications of the expiration of the PPP deal and the way forward, the NISA boss said everything was in the hands of the FCT administration to decide on what happens next. "We had an agreement for 25 years and it has come to an end and so it's left for the government to decide what it wants to do. We do not contest that; it is a concession agreement that has known terms. But on our part we hope that the administration will be able to look at what has happened here so far, take note of the successes, take note of how it has saved the government huge amount of resources because like I have already pointed out this place has been on for 15 years without interruption with no single subvention from government. "So that is a huge valuable lesson not to talk how much we have spent investing in equipment whereby people were able to come and have their tests done and receive their results,”

he added. On what impact the private sector management had made in the operations of the hospital facility, the NISA Chief Executive said a lot of savings had been made for government just as the deal has thought some lessons on how to drive public- privatepartnership the n the health sector. "So we have saved government a whole lot of money. It is left for the government to decide what to do and we are not going to dictate government what to do but our hope is that this PPP which is acclaimed not just within the country but also outside the country can offers us lessons that the government can build upon in improving access to health care for Nigerians as a whole," he said.

by government agencies. He explained that this has led to a reduction in incidences of corruption and corrupt demands, as it relates to goods clearance as well as strengthening the capacity of government to establish compliance systems. With collaboration from civil society groups and other stakeholders like the MACN, Amaechi noted that the Nigerian maritime sector was poised to further institutionalise its reforms. By doing so, the minister stressed that Nigeria would become strategically positioned to benefit from the Africa Continental Free Trade Area (AfCTA) and reclaim its pride of place among West African maritime states. “It is important to note that despite these successes, challenges of port administration are still enormous and include excessive delays in import and export processes, red tape, rent seeking, corrupt demands, human and vehicular congestion in and around the ports and illegal charges leading to the high cost of business operations,” he explained. Thus, the minister stated that the momentum and gains achieved in ports administration will greatly depend on institutionalising a

system whereby the operational gains are protected, adding that such a system demands a robust compliance function to ensure that the maritime sector remains fit for purpose. To this end, he pointed out that the compliance function within relevant regulatory institutions remains the critical factor that will further enhance ports agency's operations in Nigeria maritime sector. Their role, he said, is to ensure that the personnel of the respective agencies operate with integrity and adhere to applicable laws, regulations and internal policies in the discharge of their responsibilities in Nigerian ports. “Achieving this goal definitely requires the support and political will of institutional leaders and key decision makers that play key roles in the maritime sector,” he stated. In his comments, the Managing Director of the Nigerian Ports Authority (NPA), Mr. Mohammed Bello-Koko, who was represented by the Head, Abuja Liaison office of the authority, Mr. Edward Kabiru, explained that corruption was the totality of actions and inactions that make the maritime sector unfit for purpose. He noted that as the entry point to the national economy,

Nigerian ports play a vital role in determining the fitness or otherwise of the overall economy, explaining that ports should be in the vanguard of efforts geared towards the elimination of corruption. He added that a lot of the transformational initiatives being implemented at the Nigerian ports at the moment, takes cognisance of the need for transparency and openness in its operations. “Our vision to be the maritime logistics hub, providing sustainable port services in Africa is tied to this imperative of elimination of corruption. We understand that Nigeria has the greatest opportunity in Africa as the largest black nation,” he stated. The NPA boss stated that returning the economy to the right track will be largely dependent on the anti-corruption fight in Nigeria, noting that the authority has been collaborating with other agencies on projects that will curtail corruption in the ports. “Every agency has to play a role to infuse integrity, accountability and transparency in all dealings to ensure that the interactions are done with due diligence in order to curb corruption,” he stated.

CBN Urged to Place Caveat on Unlicensed Digital Loan Firms Ugo Aliogo Following the recent crackdown of some digital loan firms in Lagos State by the Federal Competition and Consumer Protection Commission (FCCPC), the Chief Rating Officer, DataPro Limited, Mr. Oladele Adeoye, has urged the Central Bank of Nigeria (CBN) to place a caveat on the operations of the firms in the country in order to restore sanity in the financial service sector. He said findings revealed that some of the digital loan companies were operating illegally, and evade regulations meant at checkmating their activities. He stated that the impact of having unlicenced digital loan firms was that interest rate charged, the procedure of loan approval and recovery would not be regulated, adding that if there

was high level of regulatory gap, then there was bound to be a lot of abuses. Adeoye, who disclosed this yesterday in Lagos during the launch of Tigran-for-Datapro, an artificial intelligence technology, revealed that for the licensed digital loan firms, their activities impact the economy positively by creating demand and ability to purchase which implies that those who are on the supply side are able to do their businesses, make their money in the immediate and this helps to contribute to the Gross Domestic Product (GDP). Speaking on the newly launched application, he said the app was ideal for deposit money banks (DMBs), merchant and investment banks, mortgage banks, microfinance banks, insurance companies, capital

market Operators (CMOs), FinTechs, multinationals, conglomerates, and manufacturing companies, in order to digitalise and automate their credit risk underwriting process with the integration of different components of user credit policy and data sources. “The product will deliver to the market a stand-alone solution on customised quantitative and qualitative analyses, forecast analysis, debt capacity simulation, portfolio analysis, probability of default modeling, and expected credit loss modeling,” he said. Reacting to the partnership, the Chief Executive Officer, Modefinance, Mattia Ciprian, said the credit market needs more and more fast evaluations with high accuracy. He added that modefinance was engaged on a daily basis in supporting organisations all over

the world, with greater focus on the African continent. Ciprian expressed delight with the partnership, noting that DataPro is a rating agency with a strong technological heart. Continuing, Adeoye added: “We recognise that credit decision-making needs to be effective and efficient. This has become necessary today, as customers are looking forward to speedy, convenient, and costeffective services from providers. A technology that can assist Financial Institutions and Corporate Bodies whose businesses run on credit to make informed decisions, therefore, becomes essential. The partnership between modefinance and DataPro will bring to bear African and European experiences in developing the credit decision-making process in Nigeria.”

MONDAY APRIL 4, 2022 • T H I S D AY

T H I S D AY • MONDAY, APRIL 4, 2022

NEWS

INSPECTION OF WORK ON 2ND NIGER BRIDGE... L – R: Non-executive Director, NSIA, Mr. Kabir Oniyangi; Minister of Budget, Finance and National Planning, Mrs. Zainab Ahmed, and Chief Executive Oﬃcer and Managing Director, NSIA, Mr. Uche Orji, during the inspection of the ongoing construction of the 2nd Niger Bridge project in Anambra… recently

2nd Niger Bridge Linked, Engineering Work Completed, to Be Unveiled October Kunle Aderinokun in Lagos and David-Chyddy Eleke in Awka The Nigeria Sovereign Investment Authority (NSIA) has disclosed that the ongoing construction of the Second Niger bridge is at 91 per cent complete. However, the total infrastructure of the Second Niger Bridge, which includes road, bridge and interchange and others is presently at 84 per cent completion. The completion date, the Authority reiterated would be October this year. The Managing Director, NSIA, Mr. Uche Orji, who disclosed this to THISDAY yesterday, confirmed that out of the total project cost of about N206 billion, only N157 billion had been spent on the infrastructure, which is central to the south-eastern Nigeria and the nation as a whole. “The total project cost is estimated at N206 billion. So far, about N157 billion has been expended on the project. It doesn't mean that the outstanding sums won't be utilised. This is just the expenditure to date. “As it stands, the entire stretch of infrastructure i.e. road, bridge and interchange etc is about 84 per cent done at this point while the bridge alone is over 91 per cent done,” he said. According to Orji, while in terms of percentage, the major works have been done, the finishing works are quite extensive and would take a few months, stretching into October this year. On the funding structure of the project, Orji, noted that the Second Niger Bridge was one of the three projects being funded from the Presidential Infrastructure Development Fund. The other two projects, according to him, are the Abuja-Kaduna-Kano Road project and the Lagos-Ibadan express road project. Orji explained that, “The PIDF is a special fund set up by PMB and managed by the NSIA. The NSIA brought in some of its own capital alongside the capital provided by FG and the capital from returned loot from Sani Abacha. “So, when you said PPP, it is the NSIA and the partnership of the federal government and NSIA is the one coordinating the fund from investors.

“So, as it stands now, it is purely the NSIA and the federal government that is the face of the project today. “The NSIA is an investment institution owned by all three tiers of government including the states and local governments, the federal government and the federal capital territory which make up the shareholders of the NSIA. “In terms of other people that will invest in the project, they will come under the NSIA's fundraiser activities.” Speaking on the compensation for Nigerians, whose lands were affected by the project, Orji said a significant portion of the compensation has been settled by the government. He said more assessment was still being made with a view to compensating those that would still be affected as the project progresses. “Regarding compensation, this is an ongoing affair, we had paid significant sums earlier. However, there are still some more compensations to be made. We expect to close these as we continue to work. “As you can see, the bridge itself is 11.9 kilometers, there still remains 17 kilometers of road on this side and the Asaba end of the road that will be paid for. “Assessment is still being made for compensation. What I can assure you is that the directive we have from the President and from the Minister and our Board is that adequate compensation is to be paid to everyone who is affected,” he noted. On whether the completion date is still feasible based on the progress of work done, the NSIA boss expressed optimism that the project would be completed on schedule. According to him, “what we‘ve seen on the ground is very important. April 2 for us marks the end of civil work on the bridge and we needed to leave here today. “And as you can see, casting is going on at the moment. So, it’s a very iconic period for us and it is unique because of the timing of the Finance Minister who came and witnessed it. “So, this is a day we should remember because after this, in a few hours, people can drive through it. And that marks the completion of the civil works and from here, it

remains the finishing touches. So, this is very important.” Only last Saturday, the Minister of Finance, Budget and National Planning, Zainab Ahmed, was on tour of inspection of the project accompanied by the Board of Directors of the NSIA and other top government officials to the project. After the round of inspection, Ahmed had said: “Today is a very significant day in the construction circle of the second Niger bridge, this is one of the most iconic projects in the country at an initial contract cost of N206billion. “Today, we have been able to fund this project with N157billion so far and I’m here to see where all this money is going. And also, the significance of today is that the two

ends of the bridge are being put together and this is the final phase of the work in truly completing the project and the finishing work of the main works of the bridge. “So technically, I can report to Mr. President that I have seen where all the N157 billion has gone to. This is a project that is very dear to the President and it is designed to uplift the lives and livelihood of the people of the South-east and other parts of the country and we do hope that when this project comes on stream, it will ease traffic, enhance commercial activities and improve the lives of the people of the state.” While extolling the virtue of Julius Berger, the contractor of the project, Ahmed added, “I am happy to see

women working at the construction site and not only men. Julius Berger has brought some very unique innovations in the construction of this project and I want to on behalf of the government and people of Nigeria applaud the skills of the construction workers that have been working on this site.” Furthermore, she said, “This project has been going on 24/7 all year round with people working in shifts and that the workers are operating from within here and in the surrounding states. Many jobs have been created. So up to about 20,000 people are working on this project.” The Deputy Governor of Anambra State, Gilbert Ibezim, also joined in inspecting the project.

The finance minister’s visit came barely three weeks after President Muhammadu Buhari had conducted an inspection of the pace of work on the project. Buhari, who was then represented by his Chief of Staff, Prof. Ibrahim Gambari, was accompanied on the inspection by the Minister of Works, Babatunde Fashola; Minister of Labour and Employment, Dr. Chris Ngige, the Managing Director of the Nigerian Sovereign Investment Authority, Uche Orji; and other top officials of government. The project located in the southeast region of Nigeria, is expected to boost economic activities and open up development in that part of the country.

Over N5bn Drugs Seized by NDLEA, NCS at Lagos Airport, Abuja, Edo Michael Olugbode in Abuja Over N5 billion worth of pharmaceutical opioids (drugs) have been seized in the last one week by operatives of the National Drug Law Enforcement Agency (NDLEA) and the Nigeria Customs Service (NCS) at the Murtala Muhammed International Airport, Lagos; the Federal Capital Territory and Edo State. According to a statement yesterday, by the spokesman of the NDLEA, Femi Babafemi, the total seizures in the three places in quantity amounted to about 9.5 million tablets of pharmaceutical opioids, including Tramadol and Exol 5. He said of the figure were 214 cartons of Tramadol 225 under 10 different brand names, which translated to 9,219,400 tablets weighing 6,384.5 kilogrammes with an estimated street value of N4,609,700,000 that were transferred on March 29, alongside 85 cartons of dried Khat leaves with a total weight of 1,327.35 kilogrammes by the NCS to the Murtala Mohammed International Airport (MMIA)

Command of the NDLEA. This, it stated was a symbol of the synergy between the two law enforcement agencies. He said in Abuja, about 228,740 tablets and capsules of Tramadol and Exol 5 were intercepted last Friday, at the Abaji area of the FCT, disclosing that the truck conveying the drugs was loaded in Lagos and heading to Kano. He said though the truck driver escaped into the bush during the search of the vehicle, two of his assistants - Usman Abdulmumini, 23 and Aminu Ahmad, 22, were arrested. Babafemi said at the Port Harcourt International Airport, a Brazilian returnee Nnanna Michael, 39, was arrested during the inward screening of passengers on board Qatar Airline flight QR1433 from Doha to Port Harcourt last Tuesday. According to him, Nnanna was arrested with 73 sachets weighing 8.15 kilogrammes of cocaine, which is the largest seizure of such at the airport, since it began international flight operations years ago. He said during preliminary interrogation, Nnanna said he

departed Sao Paulo, Brazil on Sunday midnight en route Qatar to Port Harcourt, and claimed an unidentified person in Sao Paulo gave him six bed sheets in which the drug was concealed to deliver to another unidentified person at Port Harcourt International Airport, Omagwa. He disclosed that the 73 cocaine sachets were hidden in 4x1 feet factory sewn colourful bed sheets, with five of the bed sheets containing 12 sachets each, while the sixth bed sheet contains 13 sachets. He added that an immediate follow up operation led to the arrest of 50-year-old Monday Alaisu, who travelled from Lagos to pick the drug from Nnenna. He was arrested at the airport’s carpark where he was waiting to receive Nnenna with the latter’s photograph taken at the Brazilian airport and his international passport’s Data Page in his hand. He said in Oyo state, 17.6 kilogrammes cannabis was transferred along with a suspect, Ramon Dauda, 40, to the state command of NDLEA by the Oyo/

Osun Area Command of Nigerian Customs Service, just as narcotic officers on patrol along LagosIbadan expressway last Thursday intercepted a consignment of 10 kilogrammes cannabis and 12.1 grammes of amphetamine in a commercial bus. He added that a follow up operation in Ilesa, Osun state led to the arrest of the owner of the drug exhibits, Mrs. Remi Aluko, 44. Babafemi also revealed that three drug joints were raided at Wire road, Benin City and Uromi town in Esan Central local government area of Edo State where 188 pinches of cocaine and heroin were recovered with five suspects arrested. He said in another raid in Okada town, a patent medicine dealer, Harrison Odion was arrested with 70 bottles of codeine based cough syrup; 9,638 Tramadol capsules; 16,843 tablets of Exol-5; 80 tablets of Diazepam and 62 ampules of Diazepam injection. He also said operatives in the state destroyed seven clusters of dry season cannabis sativa farms in Okpuje Forest along the banks of River Ose totalling 3.1 hectares.

MONDAY APRIL 4, 2022 • T H I S D AY

T H I S D AY • MONDAY, APRIL 4, 2022

NEWS

CHANGE OF FLAG CEREMONY... L-R: Chief of the Naval Staff, Vice Admiral Awwal Gambo; Minister of Defence, Major General Bashir Magashi (rtd); Nigerian Ambassador to United Arab Emirate, Ambassador Mohammed Dansanta Rimi and others, during the Change of Flag Ceremony of Landing Ship Tank – 100, Nigerian Navy Ship KADA in United Arab Emirate…recently

CBN Imposes 400 Per Cent Fine on Banks over Composed Banknotes James Emejo in Abuja The Central Bank of Nigeria (CBN) has said it would henceforth impose a 400 per cent fine of the value of any composed banknote found in the deposits of any of the Deposit Money Bank (DMBs). A composed banknote refers to several parts of different banknotes of the same denomination put together

with the intention of receiving value. The central bank in circular to all DMBs, titled, "Treatment of Composed Banknotes," which was posted on its website at the weekend, added that the punitive measures took effect from April 1, 2022. The correspondence, which was signed by the CBN Director, Currency Operations Department, Ahmed Umar,

Obasanjo, Osinbajo, Sanwo-Olu, Fayemi, Obaseki, Emefiele, Saraki, Dangote, Others Fete Lady Doja Otedola at 90 Vanessa Obioha Former President Olusegun Obasanjo, Vice President Yemi Osinbajo and Nigerian renowned businessman and philanthropist, Aliko Dangote, were among the dignitaries, who stormed the quiet town of Odoragunshin, Epe, Lagos, yesterday, for the 90th birthday celebration of Lady Christine Doja Otedola, mother of the affluent businessman, Femi Otedola. A former First Lady of Lagos State, Lady Doja, as she was fondly called, was celebrated for her values, which included Christianity, charity and community. Her personality was generally described in glowing terms by many with a resonating trait: simplicity. Born on April 3, 1932, Doja is from Ijebu in Ogun State and was known as an efficient caterer. She is blessed with six children and lauded for bringing up her children in the spirit of philanthropy. The birthday celebration doubled as the commissioning of a new church building developed by the celebrant. In a documentary reel, Doja said she received a prophecy that she would live to see her 90th birthday, and on hearing that prophecy,

the dedicated catholic vowed to build a church for the community, and laid the foundation on May 29, 2020. The church, St Peters Catholic Church, replaces the old one which was already in dire need of more space. The new church is spacious and decorated to depict the tradition of the Catholic church with murals of the Son of Man and disciples on the walls. Surrounded by her six children, Doja was honoured by well-heeled Nigerians from different sectors of the economy. They included Lagos, Ogun and Edo State Governors, Babajide Sanwo-Olu, Dapo Abiodun and Godwin Obaseki; Governor of the Central Bank of Nigeria Godwin Emefiele; Chairman of Heirs Holdings, Tony Elumelu; former governor of Anambra State and presidential aspirant, Peter Obi; former Senate President, Bukola Saraki and his wife, Toyin, among others. Hosted by Dare Art Alade as the musician of the day, the younger brother of Femi, Rotimi and his Afrinero band, kicked off the event on a musical note. DJ Cuppy and her sister, Tolani also provided musical entertainment with King Sunday Ade crowning the event with a riveting performance.

pointed out that the existence of composed banknotes in the economy falsifies the true value of currency in circulation. The apex bank also said such development could further create an avenue for fraudulent activities. Essentially, it noted that the attention of the bank had been drawn with concern, to the increased number of composed banknotes deposited by DMBs and request for replacement of such banknotes by members of the public. According to the central bank, the cost of printing banknotes increased by 17.93 per cent in 2019. Data from the Currency Operations Department (COD) of the bank had stated that total cost incurred on printing

of banknotes amounted to N75.52 billion in 2019, compared to N64.04 billion in 2018, indicating an increase of N11.48 billion or 17.93 per cent. It is not the first time that the apex bank had moved against currency abusers. In August 2021, the CBN had warned Nigerians to desist from abusing the legal tender - the naira - or risk being arrested by law enforcement agencies. The bank particularly then emphasised on the activities of persons, who flagrantly abuse the legal tender by hurling wads of naira notes in the air and stamping on the currency at social functions. The CBN Director, Corporate Communications, Mr. Osita Nwanisobi, told THISDAY,

that there had also been cases where people mishandled the naira, defaced as well as hawked the currency at parties while others rejected the currency in some instances. He said contrary to the practice of these unpatriotic persons, it is neither cultural nor moral, for people to disrespect the currency which citizens trade in. He said: "For the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) stipulates that “spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under the law by fines or imprisonment or both.”

Nwanisobi, further reiterated that the apex bank was collaborating with the Nigeria Police Force, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to address the unpatriotic and flagrantly abuse the local currency. -The bank further cautioned Nigerians particularly those at social functions including birthdays, weddings and funerals, to desist from disrespecting the Naira or risk being arrested by law enforcement agencies. "The Naira is our legal tender and symbol of national pride. Let us respect it and handle it with care," the statement added.

2023 Presidency: Volunteers Behind Emefiele's Branded Campaign Materials, Support Group Clarifies Insists blackmail won't discourage CBN Governor's well-wishers Sunday Aborisade, Abuja The Emefiele Support Group (ESG) has raised the alarm over an alleged media plot to smear Dr. Godwin Emefiele and his office as the Governor of Central Bank of Nigeria. The ESG alleged at a news conference in Abuja, yesterday, that there were plans to blackmail Emefiele based on the independent activities of support groups calling on him to join the race for the 2023 Presidential election. The group's Director of Communications, Ms. Benigna Ejimba, clarified that all Emefiele's support groups were running on voluntary donations and self-raised funds to promote

the call for the CBN boss to run for the highest position in the country. Ejimba, however declared that, "the smear campaigns were futile attempts from panicky politicians to scare Emefiele from considering a Presidential bid." She said, "Let it be known to these greedy politicians and their allies that no single kobo from Dr. Emefiele or the CBN is part of the funds so far spent on those branded campaign materials that have started giving them sleepless nights. "It is ordinary citizens like us that are contributing these funds in form of our widows might to ensure yet again that Nigeria gets it right and keeps

away politicians whose only interest is the treasury of the country. "For clarification, we are proud and bold to say that all Emefiele support groups run on voluntary contributions from eminent members of the various support groups who are desirous of a better nation for us all. "Please note that these young and determined Nigerians cannot and will not be blackmailed into abandoning our commitment to a people's agenda to convince Dr. Emefiele to step out to continue to consolidate and expand President Muhammadu Buhari's legacies. "This is a task we are committed to and have resolved

to give up all, including our financial resources, to ensure that this is done.” She also expressed confidence that once Emefiele answered their call and joins the presidential race, he would be the candidate to beat and claimed that the attacks were childish attacks that cannot stop the voluntary activities of advocates in calling on Emefiele to contest. She said, "We owe no one any apology for our conviction and at the end of the day, Nigerians will appreciate us for bearing the torch of this vision when eventually Dr. Godwin Emefiele becomes elected as the President and continues the growth and development of Nigeria."

MONDAY APRIL 4, 2022 • T H I S D AY

T H I S D AY • MONDAY, APRIL 4, 2022

NEWS

UNVEILING FOOD FACTORY PROJECT… L-R: Chairman of Udi Local Government Area, Hon. Philip Okoh; Governor Ifeanyi Ugwuanyi of Enugu State; Bishop Callistus Onaga of the Catholic Diocese of Enugu, and Chief Executive Oﬃcer of Come Chop Restaurants (Fresh and Local Foods), Mr. Emeka Eneh, during the inauguration of the food factory project, at Agbudu, Udi LGA…yesterday

Insecurity: Opposition Parties Fault Doguwa's Call to Bear Arms, Say it will Lead to Anarchy Udora Orizu in Abuja The Coalition of United Political Parties (CUPP) has faulted the suggestion by the Majority Leader of the House of Representatives Hon. Alhassan Ado Doguwa, that Nigerians should be allowed to bear arms to defend themselves from terrorists. Following recent terrorists’ attacks on Kaduna airport and train, the lawmakers at the plenary had last week expressed concerns over worsening insecurity in the country. Doguwa (APC, Kano) had alluded that the federal government had failed to live up to expectations of the citizens with the everyday massacre being experienced in the country, saying that citizens should be allowed to bear arms to defend themselves. But, CUPP Spokesman, Ikenga Ugochinyere speaking on Arise TV, said the suggestion by the House leader if implemented would lead to anarchy and worsen an already

bad situation. Ugochinyere said APC lawmakers should leave politics aside, stop playing to the gallery and call on President Muhammadu Buhari to sit up and address the insecurity bedeviling the country. He said, "Doguwa is one of the leaders in the parliament, he has been there, approved all the budgetary allocations of the government and security agencies, and they know who to blame. They don’t want to tell Buhari the real truth, that as the commander in chief of the armed forces you have a constitutional responsibility. “APC members don’t want to leave politics aside and call their president to order and say what’s the problem. If it’s the service chiefs, finances let us know so we can find a way to provide you the needed logistics. There’s no way the citizens can be called to take up arms to protect themselves, it will lead to anarchy. If you do that you are going to worsen the already bad situation."

Speaking on the federal government blaming on the People's Democratic Party (PDP) for being responsible for the bad situation the country was in, Ugochinyere advised the ruling party not to politicise what’s going on currently in the country, saying the blame game and rhetoric were worsening the situation. The CUPP spokesman while pointing out that all the major actors who were part of the 16 years of PDP are currently in the APC, said Buhari should consider the country's security situation as a matter of urgent national importance by mobilising the security forces from all angle to storm those forests to neutralise the terrorists and avert future occurrence. "Any government that can’t secure lives and property have no reason being in power. And talking about 16 years of PDP rule at a time of national emergency, when bandits and terrorists are rampaging all parts of the country, there’s no 16 years to account for

because all the major actors who were part of the 16 years we are talking about is in APC currently. “Governor of Kano State, Minister of labour, minister of transport and so on were all part of that PDP 16 year rule. The man they made national secretary, Omisore is part of that 16 years he’s talking about. So they should stop talking about that 16 years because they were all part of it. They should go and ask their members what happened in that 16 years.

Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to enforce the judgment by the ECOWAS Court of Justice compelling the

As Olanipekun promises better deal The Nigerian Bar Association (NBA) has called on the new leadership of the Body of Benchers to take drastic and urgent measures in curtailing the menace of indiscipline currently ravaging the legal profession. The charge by the NBA's President, Olumide Akpata, was borne out of concern about the declining capacity of the Legal Practitioners Disciplinary Committee (LDPC) to effectively deal with cases of unethical conduct among lawyers. Akpata, urged the Body of Benchers to ensure an urgent reform of the LDPC to enable it function effectively so as to restore public confidence in the legal profession. He spoke at an event held

to commemorate the change of leadership at the Body of Benchers in Abuja Senior Advocate of Nigeria, Chief Wole Olanipekun, had succeeded former Supreme Court judge, Justice Olabode Rhodes-Vivour as Chairman. Akpata, while appealing to the new chairman to look closely at the issue of discipline alongside the issue of the LPDC said: "The public, right now have very little confidence in the LPDC and they believe that we are shielding many of our colleagues who have committed one infraction or the other." He called for the establishment of more panels to enable LPDC sits across the country. "Right now, we have cases/ petitions piled up, waiting to be

heard. As the President of the Bar, I get calls every day from people who feel that they have been hard done by lawyers; who feel that some lawyers have misconducted themselves in cases involving them, and they think we are not doing enough in terms of disciplining erring lawyers. "It is a one-year term, as the Chairman of the Body of Benchers. It is not a very long tenure. But, as the Chairman, I know if he puts his mind to it, I am sure he (Olanipekun) can totally revamp the LPDC to ensure that our citizens regain confidence in the legal profession, not only that we are competent and can service the public, but that we can discipline our own." Speaking earlier, Olanipekun, who became the body's 50th

of Kaduna state, Nasir Elrufai who said the situation was getting out of hand and he’s thinking of hiring mercenaries. “He should understand the fact that what we should be looking at is how to find solutions. People are being killed in all parts of the country, these armed groups are having so much courage. Something is wrong, we need to come together across party lines and find a way to solve this issue," Ugochinyere added.

Rights Violation: SERAP Urges Buhari to Obey ECOWAS Judgment on Cybercrime Law

NBA Urges Body of Benchers to Checkmate Rising Indiscipline among Lawyers Alex Enumah in Abuja

"We shouldn’t politicise what’s going on currently in the country. If the government said it’s the handwork of the opposition that means they know the people behind it, then as a responsible government you should go after those people, whether they are in the opposition or ruling government and arrest them. “It’s unfortunate that President Muhammadu Buhari is not even listening to the statement of his party members, like the governor

Chairman, said he is humbled by his new assignment and assured of his commitment to lift the body and the profession by building on the enviable foundation laid by his predecessors in office. "I am humbled, honoured and ecstatic at the matchless and remarkable opportunity afforded me to lead and pilot the affairs of the Body of Benchers for the next one year, having been elected as the Vice-Chairman on 25th March, 2021," he said. "In whatever position I found myself, I have always striven to represent our noble profession as an ambassador and exemplar, displaying the learning, good character and virtues which the law profession is reputed for, to the admiration of the non-legal communities.

federal government to delete the offence of ‘insulting or stalking public officials online’ from the Cybercrime Act. The judgement, delivered by the court last week in Accra, Ghana, followed the suit number ECW/CCJ/APP/09/19 brought by SERAP. The court in its ruling, had ordered the federal government to amend the controversial section 24 of the law which is widely viewed as authorities’ weapon for muzzling citizens’ rights to freedom of expression. In an open letter dated April 2, 2022, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation urged Buhari to urgently send an executive bill to the National Assembly to repeal the unlawful provisions, and reform all laws, which are inconsistent and incompatible with freedom of expression and media freedom. SERAP also urged him to direct the Attorney General of the Federation and Minister of Justice, Abubakar Malami, (SAN) to withdraw all pending charges of insulting or stalking public officials online against activists, critics and journalists, and immediately ensure their release from unlawful detention. The letter, read in part: “The immediate enforcement and implementation of the judgment by your government will be a

victory for the rule of law, the right to freedom of expression and media freedom online. “This will improve citizens’ participation in their own government, and provide an impetus for the anti-corruption fight. By implementing the judgment, your government will be demonstrating Nigeria’s leadership within the ECOWAS sub-region, and sending a powerful message to other countries to embrace the rule of law and human rights. “With the ECOWAS Court judgment, all federal and state authorities must now stop using the provisions of section 24 of the Cybercrime Act to target, harass, intimidate, arbitrarily arrest and detain and unfairly prosecute social media users, activists, and journalists who express views perceived to be critical of governments. “Furthermore, noncompliance with the judgment of the Court can be sanctioned under Article 24 of the Supplementary Protocol of the ECOWAS Court of Justice, and Article 77 of the ECOWAS Treaty. SERAP trusts that you will see compliance with this judgment as a central aspect of the rule of law; an essential stepping stone to constructing a basic institutional framework for legality, constitutionality. We therefore look forward to your positive response and action on the judgment.”

MONDAY APRIL 4, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY APRIL 4, 2022

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E 2023: Meet PDP Presidential Gladiators Ahead of the 2023 elections, 13 presidential aspirants have signiﬁed their intention to contest on the platform of the Peoples Democratic Party, Adedayo Akinwale writes:

Abubakar

ess than one year to the 2023 elections, things appear to be taking shape in the Peoples Democratic Party (PDP) with 13 presidential aspirants throwing their hats in the ring to battle for the sole ticket of the party. The main opposition party, having been dislodged in 2015 is already positioning itself to take over power in 2023 following a nottoo-impressive performance by the ruling All Progressives Congress (APC). Against this background, the PDP commenced the sale of Nomination and Expression of Interest Forms for all elective offices in the 2023 elections on March 17. The sale of forms was initially scheduled to end on April 1, before it was extended to April 8, 2022. Though, it appears the main opposition party is on the right track, the zoning of the presidential ticket will make or mar the chances of the party in next year’s election. While political gladiators from the South are clamouring for the ticket to be zoned to the region, their northern counterpart argue that the last president produced by the party came from the South. However, political analysts believe that zoning the presidential ticket to the north may be the best bet for the party to reclaim power in 2023. Nevertheless, the presidential primaries according to the schedule of activities released by the Independent National Electoral Commission (INEC) are scheduled to hold between April 4 and June 3, 2022, while the presidential election will be held on February 25, 2023. The 13 presidential aspirants are: Governor of Sokoto State, Aminu Tambuwal; a United States-based medical doctor, Nwachukwu Anakwenze; Newspaper publisher, Dele Momodu; Governor of Rivers State, Nyesom Wike; Investment banker and economist, Mohammed Hayatu-Deen; former governor of Anambra State, Peter Obi; Governor of Akwa Ibom State, Udom Emmanuel and a Pharmacist, Sam Ohuabunwa. Others are: former Vice President, Atiku Abubakar; former Senate President, Bukola Saraki; former Secretary to the Government of the Federation, Anyim Pius Anyim and the Governor of Bauchi State, Bala Mohammed, as well as the only female aspirant in the race, Oliver Tareila Diana. Nwachukwu Anakwenze Dr. Anakwenze is a United States-based Medical Doctor. He graduated from the University of California San Diego School of Medicine in 1982. He works in Inglewood, CA and specializes in Family Medicine and Internal Medicine. Anakwenze is affiliated with Memorial Hospital of Gardena and Centinela Hospital Medical Centre. Politically, nothing is known of him, but he has decided to contest for the number one seat, even though he may not know how to navigate the dangerous political waters of Nigeria. Mohammed Hayatu-Deen Hayatu-deen is an economist, banker,

Saraki

former Chairman of the Nigerian Economic Summit Group (NESG) and a former Managing Director of the now-defunct FSB International Bank. He recently joined the PDP to run for the office of the presidency in 2023. He believes that the country needs a leader fully equipped with the type of skills, character and experience to safely navigate the Nigerian people out of the stormy waters to a much brighter and better place reflective of the nation’s rich potential for greatness. Hayatu-Deen started his career working in principal investments and project finance at the Northern Nigeria Development Corporation later rechristened New Nigeria Development Corporation (NNDC) which at the time was Nigeria’s largest industrial holding company with investments across a range of industries. He rose to the position of Group Chief Executive and was responsible for providing leadership, direction, and oversight to 140 subsidiary and associate companies under the group portfolio. His economic expertise may be needed to revatilise Nigeria’s ailing economy. Samuel Ohuabunwa Ohuabunwa is a Nigerian Pharmacist, politician and business executive. He is the founder and former CEO of Neimeth Pharmaceutical. He was the former President of the Pharmaceutical Society of Nigeria. Ohuabunwa was the foundation President of the West African Pharmaceutical Manufacturers Association and the Chairman of the Nigerian Economic Summit Group. He was also a former chairman of the Manufacturers Association of Nigeria. Ohuabunwa was a member of the Presidential Committee on Vision 2010 and Vision 2020 national development plans. He has been on the Board of the Nigerian Institute of Social and Economic Research

Emmanuel

Anyim

and the Nigerian Health Insurance Scheme. He was appointed to the board of the Subsidy Reinvestment and Empowerment Programme (SURE-P) by President Goodluck Jonathan. He was chairman of the governing board of Abia State Polytechnic and also Chairman of the board of the Abia State Teaching Hospital. His antecedent shows that he’s not new to Nigeria’s public sector. While he can bank on the structure of the PDP, it is uncertain if he will have that acceptance both in the North and in the South to be able to mount a serious challenge to the eventual candidate of the ruling APC if he emerges.

behaviours.

Udom Emmanuel Emmanuel is the current Governor of Akwa Ibom State. Prior to that, in July 2013, Emmanuel was appointed Secretary to the State Government of Akwa Ibom State. In 2014, he contested the governorship primary election and defeated 22 other aspirants to emerge the candidate of the PDP. He contested for the office of governor in the April 2015 elections on the platform of PDP and he was re-elected as the governor of Akwa Ibom State in 2019. Governor Emmanuel has performed very well as a governor, sticking to his promise to industrialize the state. He is admired admired by many for establishing the only government owned functional airline-Ibom Air. He may capatilise on his position as a sitting sitting governor to mount a strong campaign. Nyesom Wike Wike is a Nigerian politician and lawyer who is the sixth and current Governor of Rivers State. He was elected as a two-term Executive Chairman of Obio Akpor Local Government Area from 1999 to 2007. He was appointed Minister of State for Education on July 14, 2011. Wike was later appointed the Acting Minister of Education, after Mrs Ruqqayatu Rufai was sacked. He resigned before finishing his term to campaign for Governor of Rivers State. In 2014, he won the Rivers State PDP governorship primary. Wike defeated Dakuku Peterside of the APC and Tonye Princewill of the Labour Party in the April 11 gubernatorial elections to emerge as governor. As the Governor of the state, he has performed above average. But political analysts believe that it may be dangerous to entrust Wike with the Number One position in the land due to his eccentric

Though, it appears the main opposition party is on the right track, the zoning of the presidential ticket will make or mar the chances of the party in next year’s election. While political gladiators from the South are clamouring for the ticket to be zoned to the region, their northern counterpart argue that the last president produced by the party came from the South

Peter Obi Obi, a Nigerian politician and businessman, was the vice presidential candidate in the 2019 general election under PDP. He was the former governor of Anambra State serving from March 17 2006 to November 2, 2006, when he was impeached and from February 9, 2007 to May 29, 2007 after his impeachment was overturned. Although a fresh election was held on April 29, 2007, he was reappointed governor on June 14, 2007 after a court ruling that he should be allowed to complete a four-year term. He won on February 6, 2010 gubernatorial election that made him governor of the state for the second time on October 12, 2010. It is the believe of many that Obi has the ability and the capacity to rule Nigeria. If the PDP ever considers micro-zoning its ticket to the South-east, Obi will be the fitting presidential candidate majority of Nigerians look forward to Dele Momodu Momodu is a journalist/publisher and a businessman. He is the CEO and Publisher of Ovation International, a magazine that has given publicity to people from all over the world, mainly in Africa. In 2015, he officially launched Ovation TV and subsequently launched an online newspaper called The Boss. Momodu writes a weekly column called “PENdulum”, published every Saturday on the back page of THISDAY newspapers. He boasts of being the only Nigerian politician with the highest number of followers on Twitter. However that may not translate to electoral capital Momodu contested the presidential election in 2011. Aminu Tambuwal Tambuwal serves as the Governor of Sokoto State, having won election in 2015 and re-elected in the 2019 general election. He served as the 10th Speaker of the House of Representatives. He started learning the legislative ropes from 1999 to 2000, while working as Personal Assistant on Legislative Affairs to Senator Abdullahi Wali, the then Senate Leader. In 2003, he decided to run for a legislative seat as representative of the Kebbe/Tambuwal Federal Constituency. He was elected into the House of Representatives on the platform of the All Nigeria Peoples Party (ANPP). Few months to the 2007 general election, he defected to the DPP, alongside the former governor of Sokoto State, Attahiru Bafarawa. But when the DPP denied return tickets to former ANPP legislators, Tambuwal swung back to the ANPP, where he eventually succeeded in picking up a ticket for the election. Again, when the ANPP governorship candidate for Sokoto State in the 2007 election, Aliyu Wamakko dumped the party for the PDP, Tambuwal also followed suit. Tambuwal declared that he was running for president in October 2018, to “revive the Continued on page 19

T H I S D AY ˾ MONDAY APRIL 4, 2022

MONDAY DISCOURSE

It’s Time for Buhari to Inaugurate the NDDC Board Lately, a combination of varied but interwoven factors, in addition to compliance with the law, have made it imperative for President Muhammadu Buhari to hearken to the legitimate demands of Niger Delta stakeholders, fulﬁl his own promise of June 24, 2021, and inaugurate the Board of NDDC, writes Nseobong Okon-Ekong

Buhari

s reported in the media last week, Civil Society Organisation, Niger Delta Peoples’ Forum (NDPF) has called on the Attorney General of the Federation (AGF), Abubakar Malami, to carry out the ruling of Hon. Justice Isa Dashen of the Federal High Court, sitting in Yenagoa, Bayelsa State, and allow the inauguration of the substantive Governing Board of the Niger Delta Development Commission (NDDC) in accordance with the provisions of the NDDC Act 2000 as amended. This followed the March 14, 2022, order of the Federal High Court sitting in Yenagoa, Bayelsa State, which granted a perpetual injunction restraining the AGF from further constituting an interim or sole administratorship to run the affairs of the commission. The court further said: “That leave is hereby granted to the applicant to seek an order of this Honourable Court directing the respondent to dissolve the current sole administrator-ship structure used to run the affairs of the Niger Delta Development Commission (NDDC).” The court also directed the Attorney-General of the Federation (AGF) and Minister of Justice to stop placing the Niger Delta Development Commission (NDDC) under any ministry including the Ministry of Niger Delta Affairs. The orders were made following a motion ex parte dated December 10th, 2021 and filed by Odighonin Adienbo on behalf of the Wailing Women of Niger Delta (WWND) and the Integrity Friends for Truth and Peace Initiative (IFTPI).

Akpabio

Akwa

The judge also asked the parties to return to the court tomorrow, April 5 for report of service, compliance and hearing. Also last week Wednesday, Chairman of Senate Committee on Ethics, Privileges and Public Petitions, Ayo Akinyelure called on President Muhammadu Buhari to inaugurate the NDDC Board without delay so as to remove one man’s overbearing influence on the Commission while also threatening to issue a warrant of arrest against the Minister of Niger Delta Affairs, Senator Godswill Akpabio and the Sole Administrator of NDDC,Akwa Effiong, for severally snubbing the Senate Committee on Ethics, Privileges and Public Petitions with regard to over N72 Billion owed to contractors. Senator Ayo Akinyelure at a press briefing disclosed that the Minister and the Sole Administrator have been unanimous in administering the NDDC, an agency of government set up by an Act of Parliament, the way they like, hence, there were a plethora of petitions against them for refusing to pay contractors who executed projects for the Commission to the tune of N72 billion. The petitions which were referred to the Committee by the Senate Committee of the whole were being treated, but, disappointedly, Godswill Akpabio and the Sole Administrator, Effiong Akwa, who are in a position to offer explanation have been undermining the Committee’s work.

Akinyelure confirmed to journalists that appropriations have been made yearly for contractors who executed projects across the Niger Delta States to be paid, wondering what might have happened, that Akpabio and the Sole Administrator chose to embarrass the President Muhammadu Buhari-led government, even as contractors keep protesting and lamenting all the time. “The contractors have executed projects to the tune of N72 billion and they have their evidence, so it’s up to Godswill Akpabio and the Sole Administrator of NDDC to come and explain why the contractors have not been paid despite yearly appropriations”, Senator Akinyelure said. Also in March, the Senate President, Dr. Ahmad Lawan stated the Senate’s readiness to work and ensure the inauguration of the Commission’s substantive Board “without further delay.” According to him, “I believe now that the forensic audit is over, we should have the NDDC run properly. Let there be full-fledged management and the governing board so that our people in the Niger Delta will continue to get the attention that made the NDDC to be established in the first place.” Again in the month of March there were widespread reports in the international and national media of renewed attacks on crude oil pipelines in the Niger Delta, which have forced major International Oil Companies such as Shell Petroleum

and Agip to declare Force Majeure as a result of their inability to meet their contractual daily crude oil production, thus leading to daily loss of huge revenue to the nation. According to ThisDay report of Tuesday, March 15, 2022, titled “Shell, Eni Declare Force Majeure After Attacks on Oil Facilities in N’Delta,” Shell Plc and Eni SpA both declared force majeure on key oil flows from the Niger Delta, threatening to disrupt supplies. Quoting a Bloomberg report, ThisDay stated that Shell’s measure has been in place since March 3, and applies to its Bonny export programme, while Eni’s relates to Brass crude cargoes and followed a pipeline blast recently in Bayelsa state. Shipments of the two grades had been planned at a rate of 170,000 barrels a day next month but have been in a state of decline over the past few years, according to loading programmes seen by Bloomberg. Flows back in 2020 were planned at about 320,000 barrels a day. Also in another report in a national daily on Tuesday, March 15, 2022, titled “Energy Crisis: Nigeria To Lose N1.2bn Daily Over Agip Oil Export Cut” it stated that Nigeria’s energy crisis on Monday took a multiple dimension as Agip announced a halt in oil export at its 25,000 barrels per day (bpd) Brass export terminal in Bayelsa sequel to a blast at its facility, which could trigger a $2.84 million (about N1.2 billion) daily oil export loss. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

2023: Meet PDP Presidential Gladiators dying economy.” Initially, he appeared to be favoured to emerge and was also backed by Wike who was allegedly prepared to be his running mate before he later declared his interest to contest. He won’t be a bad choice for the PDP if he emerges. Atiku Abubakar Abubakar, a politician and businessman served as the Vice President from 1999 to 2007 during the presidency of Olusegun Obasanjo. He ran as Governor of Adamawa State in 1990, 1997 and later, in 1998, he was elected before becoming Olusegun Obasanjo’s running mate during the 1999 presidential election and re-elected in 2003. Abubakar unsuccessfully contested the presidential seat five times in 1993, 2007, 2011, 2015 and 2019. In 1993, he contested the Social Democratic Party presidential primaries, losing to Moshood Abiola and Baba Gana Kingibe. He was a presidential candidate of the Action Congress in 2007, coming third to Umaru Yar’Adua of the PDP and Muhammadu Buhari of the ANPP. He contested the presidential primaries of the PDP during the 2011 presidential election, losing to incumbent (at the time) former President Goodluck Jonathan. In 2014, he joined the APC ahead of the 2015 presidential election and contested the presidential primaries losing to Muhammadu

Buhari. In 2017, he returned to the PDP and was the party’s presidential candidate in the 2019 presidential election, again losing to Buhari. Though a serial defector and contestant, if there is anyone that is fully prepared for the job, it is Atiku. While age is no longer on his side, it remains to be seen if he will be lucky the sixth time, if he wins the ticket. Anyim Pius Anyim Anyim served as the President of the Senate and was the Secretary to the Government of the Federation (SGF) during the Jonathan presidency. He was elected a Senator on the platform of the PDP in 1999 for the Ebonyi South constituency of Ebonyi State. He was elected Senate President in August 2000. He announced his ambition to run for the 2023 presidential elections in February 2022. In 1998, Anyim joined the United Nigeria Congress Party (UNCP) and won a Senate election. However, the death of General Sani Abacha on June 8, 1998 nullified

the result. During the transitional regime of General Abdulsalami Abubakar, he joined PDP and again ran successfully for election to the Senate in 1999. If he emerges as the PDP standard bearer, political analysts think Anyim may not give APC a tough challenge. Bala Mohammed Mohammed is the incumbent Governor of Bauchi State. Prior to becoming the governor, he was the Minister of Federal Capital Territory (FCT) from 2010 to 2015. In 2007, Mohammed contested and won the election to serve the people of South Senatorial zone in Bauchi State in the capacity of a senator on the party platform of the All Nigeria Peoples Party (ANPP). He served as the Senator from 2007 to 2010. He reportedly fell out with his political godfather and former Governor of the state, Isa Yuguda after Yuguda married President Umaru Yar’Adua’s daughter and defected to the PDP. Following the death of Yar’Adua, he became a close associate of President Goodluck Jonathan. A sweet talker like any other politicians, his emergence may not take PDP back to the Aso Rock Presidential Villa. Bukola Saraki Saraki was the 13th President of the Senate from 2015 to 2019 and Chairman of the 8th

Nigeria National Assembly. He was previously the Governor of Kwara State from 2003 to 2011. He was elected to the Senate in 2011, under PDP, representing the Kwara Central Senatorial District, and then re-elected in the 2015 general election under APC. After his re-election in 2015 general election, he was elected unopposed as President of the Senate on June 9, 2015 by an across the party alliance comprising PDP and APC Senators. Saraki had faced stiff opposition from Senator Ahmed Lawan who was a preferred candidate by a group of senators-elect within the APC. He left the ruling party APC and returned to PDP where he became the opposition leader, on July 31, 2018. Saraki declared his presidential campaign for the PDP presidential ticket in the 2019 election, but lost the primaries to Atiku Abubakar. He was subsequently announced as the Director General of Atiku’s presidential campaign for the 2019 presidential election. Saraki’s political dynasty in Kwara state was dismantled during the 2019 elections when he lost his grip on the state after his governorship candidate lost the election. Oliver Tareila Diana Diana is the only female aspirant in the race. Not much is known about her or her political antecedent. She has, however, decided to test her popularity in the contest.

T H I S D AY ˾ MONDAY APRIL 4, 2022

FEATURES

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

Citizens Groan as Criminals Inﬁltrate Lagos' Commercial Transport Systems Frequent reports of harassment, robbery and kidnapping have culminated in citizen’s lack of confidence in the popular commercial transport systems in Lagos. From tricycles to taxis and even government-owned shuttle bus, passengers now battle criminals masquerading as drivers or co-passengers. While the burden of protecting its citizens rests on the government, citizens are also demanding for better and secured services from licensed commercial operators. Yinka Olatunbosun and Rebecca Ejifoma report

A view of BRT buses

t all started many years ago with ‘one chance’, a robbery that occurs in marked or unmarked commercial buses where a lone, unsuspecting or desperate passenger boards a bus and gets robbed. Of course, the victim is usually blamed for not being streetwise; boarding a bus outside the designated bus parks. And the mockery that often follows makes light of the situation. Later, the criminals became more brazen, boarding public transit at day time along traffic-prone areas like Badagry Expressway, Lagos-Ibadan Expressway, Ikorodu-Apapa axis, Ojodu Berger, amongst other blackspots, stripping people of their money and other valuables. In Lagos, Commerical Tricycles are not Safe Either More recently, passengers have complained of robbery or attempted kidnapping in tricycles at several locations in Lagos. Areas like Okota, Isolo, Costain, Surulere and even Jakande Estate in Ejigbo axis have witnessed an influx of such attacks. Targeting lone passengers, especially women, the rider and accomplice strip their victims and push them off before targeting another victim. Recently, a post on Instagram by @ KaffybrownB went viral. She had posted, "what’s really happening in Nigeria? The rate of kidnapping is tiring. My sister’s friend got kidnapped on Thursday at Isolo. She wanted to get stuff outside so she boarded Keke Napep (tricycle). When the Keke man got to her destination, she told the man she was alighting but he said no…’’ The driver of the said tricycle reportedly increased the speed while the young lady screamed. While the tricycle was still in motion, she jumped out, injured herself and broke her phone screen. Murder in Lagos BRT Sometimes, the stories get uglier. Con-

more Lagosians had depended on the stateowned BRT to commute in Lagos safely in the heat of the fuel scarcity. But that didn’t stop dancing feet from celebrating the International Women’s Day the next day. It almost seemed that gruesome news has lost its power to shock and literally stop us in our tracks.

Governor Sanwo-Olu

CP Alabi

sider the recent case of the 22-year old seamstress, Oluwabamise Ayanwola who went missing after boarding the BRT on Saturday, February 26. She took her final steps into the unknown when she boarded the bus to Oshodi at Chevron bus stop, Lekki-Ajah Expressway after work and never arrived at her destination. While her instincts led her to share with her friend some vital information about the uncomfortable journey which

allegedly began with a flirtatious remark from the driver, her due diligence was not enough to save her from the hands of criminals. Her lifeless body was found on March 8 by the roadside along Carter Bridge, sending shivers down the spine of concerned citizens. The unfortunate death led to online outrage as Bamise’s videos and voice messages were released on the internet. It was a cringe-worthy experience as

"The Lagos State Command has set up a team to critically examine this trend, see how security could be improved and come up with reports and recommendations to nip it in the bud... steps would be taken to implement them, so that the transport system can become safe and secure"

Increasing Risk Posed by E-hailing Cabs While some Lagosians were recovering from the killing of Bamise, some have taken to the social media to recount how the operators of popular cab hailing services have also failed to protect their passengers. In an encounter shared by Ada Ugo Busiswadede, just 10 days after Bamise’s death, it was revealed that some drivers may be impersonated by criminals. After ordering a ride on March 18, she found out that the driver’s face did not match the one on the app. “He said the Bolt app blocked his account and that it was his brother’s own-and that 'Why was I questioning him?' I texted my sister and friend immediately and shared the ride with them. He brought out perfume oil and was putting it all over himself for whatever reason. “This guy made a call and said in Yoruba, “I’m on my way, wait I’m coming. I got one.’’ Maybe I was overreacting or it was paranoia but I was shaking as f***. He locked the doors from his own side and I just started to panic really bad. All this while, my sister and friends were calling but I couldn’t take their calls because I was scared and I didn’t want him to figure that I was panicking,’’ she recounted. Well, the driver did and subsequently accelerated. Ada wanted to alight at the Maryland Mall but Mr. ‘Fast’ became ‘Furious’ and wouldn’t listen. “Then he asked, ‘Why you dey share ride, Continued on page 21

T H I S D AY ˾ MONDAY APRIL 4, 2022

FEATURES

Close shot of a cab-hailing service app You be pikin?’ I just wanted to faint because how did he know? He wasn’t looking into my phone now. We were already at the traffic light by Maryland inwards Bank Anthony. I told him if he didn’t drop me I would break his window. "He got so angry and started to insult me; call me all sorts, bad market, ashewo (prostitute), small girl, mad girl etc. Traffic was building up so he stopped at Leventis bus stop and ended the trip. Bolt, is this what your drivers do now? It’s sickening because when I got out of that car, I just kept crying, nobody knew what just happened. My mum, sister and friends were calling and I couldn’t even pick up the phone. Maybe, just maybe something,’’ she recalled. Her instincts proved powerful just like Bamise’s. From the video she shared with her friend, Bamise expressed worry that perhaps it was just paranoia for sensing danger, after all it is BRT. That could be the same confidence that anyone who relies on cab hailing services would have. The passenger has a feeling of security because the app gives the identity of the driver, photo, name of the car model and license plate number and has been verified by the company. Still, some passengers do not always make sure to check the faces of drivers very well, especially at night once the plate number matches the one displayed on the app. Another lady named Kimboro claimed she had been robbed by a cab driver at Ikoyi who was initially friendly with her. After a long chat, they both discovered they were from the same tribe, Igbo and then continued the conversation in their native tongue. What later ensued left her tongue-tied. “After a while, he begged to pick up something from his brother and said it was just on our way. Before I could even agree, he had stopped the car, some guy entered the passenger seat and then the driver zoomed off. At this point, I was scared and confused. "The driver then started saying he wanted to advise me because I’m his sister. Saying next time, I shouldn’t enter a stranger’s car. I was still confused. That was when he asked the guy in the passenger seat to slap me. Guys, they slapped the living daylight out of me. “The guy took everything I had on me: my cards, my ID cards, my ATM pins, my mobile app pins. He transferred all the money in my accounts including my savings to one of my cards, my phone, and my bag. He then brought out a knife threatening to use it on me if I didn’t do as they asked. I was scared. It was at this point that the driver said it was my lucky day because he wanted to use me but that he won’t because he doesn’t use his sisters. All this while,

he was circling around Ikoyi,’’ she recounted in a series of tweets. Eventually, the driver allegedly stopped somewhere close to Obalende, gave the victim N1000, pushed her out of the car and zoomed off. Her story was soon afterwards corroborated by another victim who had gone through similar experience. With these series of crime stories, citizens blame the companies for the porous security structure that makes it easy for criminals to infiltrate. For instance, a customer who identified as @yinkadudu warned the operators of one of the best patronised cab hailing services in Nigeria, Bolt, of the dangers of hiring criminally-minded individuals as drivers. “Your rides have become very insecure and are being used by kidnappers, serial killers. Your drivers are harassing people and I don’t see you people doing anything about it. If you can’t ensure the security of your patronisers, best stop operations in Nigeria,’’ he alleged. Bolt was very responsive to these claims on social media and has promised to maintain their safety standards to protect the riders. “Thank you for bringing this to our attention. Our safety team is working on this at the moment. We are very committed to ensuring that the safety of our users are our utmost priority and this is not an exemption,’’ Bolt tweeted. Vote of No Conﬁdence… More often than not, citizens report crime to social media or friends because they lack confidence in the Nigeria Police. When questioned, a few who preferred to be anonymous complained about the extortion of victims of crime by police. “Police cannot help you. You have to bribe to get anything. They say they don’t have funds to investigate,’’ a victim of one-chance reported. Chapter 11 section 14 (2c) of the Nigerian constitution states that the security and welfare of the people shall be the primary purpose of government. If the citizens have to resort to self-help to tackle crime, it makes a mockery

of this government’s duty to protect its citizens. Lagos Police Command Reacts In his reaction to the recent trend of kidnapping in Lagos State using the transport system, the State Police Public Relations Officer, Benjamin Hundeyin, in an exclusive with THISDAY, confirmed that Lagos is safe. "Lagos is safe," he said. "Yes, there are pockets of kidnapping. Yes, they're gradually increasing. Yes, the command is aware and we've been receiving complaints about it. Yes, we've started taking steps." He added that the state command has set up a team to critically examine this trend, see how security could be improved and come up with reports and recommendations to nip it in the bud. Hundeyin also pointed out that once the reports and recommendations are received, steps would be taken to implement them, so that the transport system can become safe and secure. Through his Twitter handle, @ Benjamin Hundeyin, the PRO for Lagos Police Command has continued to engage with people, as they register their grievances online. Lagos State Government and Its Strategies Also, the Chief Press Secretary (CPS) to the State Governor, Gboyega Akosile, commended the state government for its effective strategies, saying it's doing everything to keep Lagosians safe. "That is why the Governor, Babajide Sanwo-Olu, launched the 1,000 vehicles to propel safe mobility of residents from one place to the other. "The vehicles are security fitted, safe, comfortable and modernised taxi scheme with the rollout of the first batch of 1,000 brand-new," Akosile hinted. He also noted that with the security-enabled feature, it'd help them monitor the activities. "The state government is trying". On what the state government is doing to restore trust in the police, the CPS explained that there has been training and retraining. He said: "We'll keep talking to them. You know, some

"Indeed, the emergency numbers 112 and 199 should be as responsive and eﬀective as the domestic violence helplines in Lagos. For the avoidance of doubt, the responsibility to protect citizens still lies with the government"

will continue in their unprofessional activities. However, we'll keep on enlightening and training them to ensure safety." More Action, Less Talk Perhaps, the management of mass transit buses in Lagos need to consider taking a cue from the safety protocols in aviation where every flight is preceeded by safety demonstration. The BRT in particular could imbibe the same safety practice with prerecorded safety announcements that inform all passengers both old and new of the emergency features on the bus. Many who had been using the BRT didn’t even know much about this until Bamise’s demise. Citizens need to be constantly informed about their safety in the public transport system not only after another hashtag provokes the government's response. It may also be helpful to introduce and install panic buttons and tracking systems in commercial transit systems. In addition to instituting a more rigourous driver verification process, providers of cab hailing services need to add an emergency contact feature on the app. Also, the list of complaints by customers should be updated to include harassment, aggressive behaviour, verbal attack or make customers specify the particular unprofessional behaviour that was exhibited by the driver. Citizens should also learn to trust their instincts as the ‘in-born police’ to protect one from criminals. Many have been saved by responding to their first whiff of danger. One such example is a content creator who simply identified as Queen of Cruise on Instagram. She implored: "Please whatever your instincts tell you, heed to it. I was almost kidnapped this morning at Alausa secretariat, Ikeja." The Queen of Cruise recalled that the driver was talking about helping the passenger who spoke in a strange foreign language to change money and all. "But something was weird about the whole encounter. She then asked to alight but the driver ignored her and activated the central lock. Her saving grace was the traffic light that turned red. "I began texting and calling. Immediately I saw a traffic light, I began hitting the door until they opened it. That was how I escaped." Indeed, the emergency numbers 112 and 199 should be as responsive and effective as the domestic violence helplines in Lagos. For the avoidance of doubt, the responsibility to protect citizens still lies with the government and the process of reporting crime in Nigeria needs to be fair and humane. Diligent prosecution of criminals will further reinforce confidence in Nigeria’s criminal justice system.

MONDAY APRIL 4, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, APRIL 4, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

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

08056356325

M A R C H

S & P INDEX

2 5 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

INDEX LEVEL

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1/4 TO DATE

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N413.03/ 1 US DOLLAR*

OVERNIGHT

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1-DAY

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External Reserves Drop by $971.4m in Q1 amid 49% Gain in Crude Oil Price

Kayode Tokede Amidst 49 per cent rally in crude oil price, Nigeria’s external reserve dropped by $971.4 million in the first quarter of 2022 (Q1), the Central Bank of Nigeria (CBN) data on daily reserves’ movement has revealed. Accordin to the CB data, the country’s foreign exchange buffer dropped to $39.55billion billion as at March 31, 2022 compared to $40.52billion it commenced 2022 amid steady increase in global oil prices. In January, the external reserve had dropped by $478.95milion to $40.04billion, while in February, it depreciated further by $121.45million to $39.98billion from $39.86billion.

However, in March 2022, the external reserve moved from $39.86billion to $39.55billion as at March 31, 2022, representing a decline of $317.8 million. Analysis of the CBN’s data showed that the external reserve was at a threshold of $40billion in January and moved to $39billion February 2022. The global oil prices recently reached record high as oil and gas costs soar amid fears of a global economic shock from Russia’s invasion of Ukraine. Further analysis of the CBN data showed that daily crude oil price has gained 49 per cent to close as of March at $119.06

per barrel from $80.07 per barrel it opened in 2022. Oil jumped to $128.27 a barrel as of March 9, the highest level for almost 14 years. Experts have expressed that the current crisis in Niger-Delta relating to oil theft might be responsible for dwindling production, a major contributing factor impacting on external reserves growth on the backdrop of increase in global oil prices. They noted that the increasing CBN’s intervention in the foreign exchange market is also a contributing factor. The Group Managing Director/ CEO of NNPC Limited, Mallam

Mele Kyari had recently disclosed that Nigeria oil production crashed to 1.15 million barrels per day due to rising cases of oil theft and pipeline vandalism in the Niger Delta. He added that the increasing rate of vandalism has caused massive disruption in oil production, noting it was the worst the country has ever witnessed. The Former president Chartered Institute of Bankers of Nigeria, President, Prof. Segun Ajibola attributed the dwindling external reserves to the crisis in Niger-delta and sustained foreign exchange interventions by CBN. He said: “Nigeria is having a

peculiar oil theft challenge in the Niger-Delta and that is affecting our daily production quota. Government is still trying to confront pipeline vandalises, causing confusion at the points of production which is expected to have a negative impact on the country’s ability to meet the OPEC quota allocated to Nigeria. “Most of Nigeria’s oil transactions are paid for most times in 90-day times- it is called forward transactions. In some cases, we go into a swap agreement whereby those that refined products for Nigeria are paid back through crude oil. It means we are not selling but exchanging through crude oil. “When we do forward transac-

tions, the money does not reflect in the external reserve immediately. Those are the complicated issues in the global market that most people will not understand. Common man on the street will expect the steady hike in global oil price to impact on our external reserve but the underline challenges might delay it.” Speaking, Prof. Hassan Oaikhenan of the Department of Economics, University of Benin blamed the mismanagement of the nation’s economy to dwindling external reserves in the first quarter of 2022. He said Nigeria is heavily indebted, stressing that earnings Continued on page 26

Zenith, Access Bank, Others Sustain NPL Ratio Below CBN’s Requirement Nume Ekeghe With the banking sector NonPerforming Loan (NPL) closing 2021 at 4.85 per cent, the likes of Zenith Bank Plc, Access bank Plc, United Bank for Africa Plc (UBA), among others have maintained a ratio below the Central Bank of Nigeria (CBN) regulatory requirement.

Other banks that maintained NPL ratio below CBN requirement are Sterling Bank Plc, FCMB Group Plc and Stanbic IBTC Holdings Plc. Meanwhile, Guaranty Trust Holding Company Plc (GTCO) reported NPL above the threshold demanded by the banking regulatory body. Analysts expressed that the NPL ratios in the banking sector

remained stable in 2021, following the CBN’s forbearance for restructuring loan exposure to critical sectors. Extract from the banks’ performance revealed that Sterling Bank in 2021 reported 0.70per cent NPL ratio as against 1.90 per cent reported in 2020, while Stanbic IBTC Holdings reported 2.10 per cent NPL in 2021 from 4.00 per cent reported in 2020.

The Chief Executive, Stanbic IBTC, Dr Demola Sogunle in a statement noted that the NPLs ratio moderated to 2.1per cent well within the acceptable limit of five per cent, as the total nonperforming loans decreased in value by 23per cent coupled with the responsible loan growth in line with the management conservative credit risk management practices. UBA’s NPL dropped to 3.60 per

cent from 4.70 per cent in 2020. Speaking on its NPL decline performance, UBA’s Group Chief Financial Official, Ugo Nwaghodoh said: “This testifies to the quality of UBA’s loan portfolio even as the bank remains relentless in its resolve to drive down the Cost-to-Income ratio, which stood at 63.0per cent at the end of the year.” However, Access Bank reported

4.00 per cent NPL ratio in 2021 from 4.30 per cent, while Zenith Bank reported 4.20 per cent NPL ratio in 2021 from 4.30 per cent in 2020. In addition, GTCO reported a drop from its NPL to 6.04 per cent in 2021 from 6.39per cent in 2020. The bank in a presentation to investors/ analysts explained that: Continued on page 27

M A R K E T D ATA A S AT F R I D AY, A P R I L 1 , 2 0 2 2 BILLS

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

Price

Yield

107.93 5.05 112.18 7.38 111.85 8.90 107.24 10.15 122.70 10.32

Change Updated Time (%) 01, -0.02 April 2022 01, -0.37 April 2022 01, -0.16 April 2022 April 01, 0.00 2022 April 01, 0.00 2022

OTC F X F U T U R E S

C Ps

MATURITY

Discount

Yield Change Updated Time (%)

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

3.07

0.00

April 01, 2022

3.13

3.14

0.00

April 01, 2022

1.88

0.00

April 01, 2022

2.88

2.90

0.00

April 01, 2022

NTB 11Aug-22

3.18

3.22

0.00

April 01, 2022

MATURITY

Discount Yield

Change Updated Time (%)

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

8.78

8.85

0.00

April 01, 2022

16.17

16.56 0.01

April 01, 2022

8.38

8.49

0.01

April 01, 2022

10.85

11.23 0.00

April 01, 2022

7.50

7.69

April 01, 2022

0.00

CONTRACT TENOR Contract (MONTH) NGUS APR 27 1 2022 NGUS MAY 25 2 2022 NGUS JUN 29 3 2022 NGUS JUL 27 4 2022 NGUS AUG 31 5 2022

Current Rate ($/₦)

Updated Time

427.24

April 01, 2022

428.93

April 01, 2022

430.63

April 01, 2022

432.32

April 01, 2022

434.02

April 01, 2022

MONDAY, APRIL 4, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

iDOMESTIC GAS SUMMIT…

L-R: Managing Director, Topline Limited, Chinedu Maduakoh; Managing Director, Oildata Energy Group, Emeka Ene; Managing Director, Nigerian Gas Company, Oluwaseyi Omotowa; Group General Manager, LNG Investments Management Services (LIMS) representing Group Executive Director, Gas and Power, NNPC, Nike Kolawale; Managing Director, Greenville LNG, Ritu Sahajwalla; Chief Strategy Oﬃcer Axxela Limited, Oluﬁsayo Duduyemi; and Group Managing Director, Alphaden Gas Limited, Paschal Anyanwu, during the 1st Panel session themed: ‘Gas Development in Nigeria – Opportunities and Challenges’ at the inaugural Domestic Gas Summit organized by the Abuja Chamber of Commerce and Industry (ACCI) in Abuja… recently

Nine Banks’ Provision for Loan Losses Increase by 0.17% In 2021 Kayode Tokede Access Bank Plc and eight other banks’ provision for loan losses have marginally gained 0.17 per cent in the full year ended December 31, 2021, according to the result and accounts released by financial institutions on the Nigerian Exchange Limited (NGX). Provision for loan losses or Impairment charges is the writing off of worthless goodwill and it refers to assets that are no longer of the same value as they were in a prior period. The audited result and accounts compiled by THISDAY revealed that a total of N199.45 billion was recorded as impairment charges by nine banks, compared with N199.11 billion in the corresponding period of 2020. THISDAY’s investigation showed that although the total value of impairment charges appreciated marginally in 2021, United Bank for Africa (UBA), Guaranty Trust Holding Company Plc (GTCO), Fidelity Bank plc, Wema Bank Plc and

FCMB Group Plc actually recorded reduction, while Access Bank Plc, Zenith Bank Plc, Sterling Bank Plc, and Jaiz Bank Plc recorded increases. Specifically, Access Bank, followed by Zenith Bank recorded higher provisions for impairment charges by value, while Wema Bank recorded a significant decline in its provisions for impairment charges in the period under review. Access Bank’s impairment charges grew by 32.3 per cent to N83.2 billion in 2021 from N62.8 billion in 2020, while that of Zenith Bank closed 2021 at N59.9 billion from N39.5billion reported in 2020. UBA on its part recorded N9.85billion net impairment charge for credit losses on loans in 2021, a decline of 56per cent from N22.44 billion reported in 2020. As Sterling Bank credit loss expenses grew by 24 per cent to N9.8billion in 2021 from N7.91billion in 2020, GTCO reported 56 per cent decline in loan impairment charges to N8.53billion in 2021 from

N19.57billion in 2020. In a presentation to investors/ analysts recently, GTCO stated that: “Laon impairment charges decreased by 56.4 per cent from N19.6billion in 2020 to N8.5billion in 2021 due to reserves built up from previous years, improvement in the outlook of macro-economic variables used in the predictive ECL impairment model amidst waning effect of the Cocid-19 pandemic and improvement in the quality of the loan book.” Meanwhile, Sterling Bank made a provision of N2.429 billion, up from N1.844 billion in 2018, while that of UBA fell from N6.732 billion to N3.120 billion in 2019. Union Bank of Nigeria Plc had a write-back of N4.485 billion in 2019, compared with a charge of N4.625 billion in 2018. FCMB Group recorded N15.24billion impairment charges in 2021, a decline of 28.3 per cent from N21.24billion in 2020 as another Tier- II bank, Wema Bank also reported 62 per cent decline in its net impairment loss on financial assets to N2.1

billion from N5.64billion in 2020. In addition, Fidelity Bank recorded N7.04billion, down by 58 per cent from N16.9billion in 2020 just as Jaiz Bank increased its impairment charges to N3.73billion in 2021 from N3.03billion in 2020. Commenting, the Managing Director, ARM Securities Limited, Mr. Rotimi Olubi explained that for 2021, the loan growth pace across the banking sector differed. He added that: “For banks that were more aggressive with loan growth, impairment charges increased. However, for lenders with more conservative growth in the loan book, the rebound in major macroeconomic indicators helped reduce provision for loan losses by reducing the riskiness of the major sectors of the economy.” Speaking, the Chief operating officer of InvestData Consulting Limited, Mr. Ambrose Omordion, explained that: “It was the recovery of the economy and return to full operation of businesses after the lockdown that helped some of the business operators or managers to pay

back their renegotiated loans, leading to some of the bank low provision for non-performing loan, while in some cases it was full recovery and no provision was made for bad loan.” In his reaction, Head, Financial institutions, Agusto & Co, Mr. Ayokunle Olubunmi explained that some banks make provision for impairment before the pandemic, while some did not make provision due the quality of their loan books. “Banks with significant increase in loan books are expected to make provision for loan losses. If a bank has a negative assumption of the macro-economy, it is expected to make provisions for loan losses,” he told THISDAY in a telephone interview. According to analyst at PAC Holdings, Mr. Wole Adeyeye, financial institutions had recorded significant increase Inimpairment losses due to the pandemic of 2020, stressing that the ease of movement that led to improved business activities in 2021 forced some banks to reduce impairment losses for some businesses.

A member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), Mike Obadan, a Professor of Economics, University of Benin in his personal statement at the January 24-25 meeting said: “In the past one year, the Nigerian economy has shown notable signs of recovery and resilience. The financial system demonstrated soundness, stability and resilience with the non-performing loans ratio falling below the prudential benchmark for the first time in recent history. “The market for crude oil, upon which the economy depends heavily, rebounded strongly with high prices in the $70s or above. But the net positive impact on domestic revenue and foreign exchange has been very minimal because of subsisting production challenges and comatose local refineries. Fiscal performance is worrisome in the area of revenue generation and the attendant narrow fiscal space and public debt accumulation. Besides these are other issues which shape the direction of monetary policy.”

Thomas: Insurance Sector Holds Potential for Enhancing Sustainable Development Ebere Nwoji TThe Commissioner for Insurance, Mr Sunday Olorundare Thomas has said that the insurance sector holds potential for enhancing sustainable development with the 2030 Agenda. Thomas who stated this while speaking at the declaration on sustainable insurance conference held in Lagos at the weekend said environmental, social and governance (ESG) issues constitute a shared risk to insurers, businesses, governments and society. “Some ESG issues such as, climate change, pollution and

eco-system degradation, have various ramifications. Some of these issues are now considered as likely to be financially material to the success of organisations. There is therefore the compelling need for innovation and collaboration”, the commissioner stated. He said the four Principles for Sustainable Insurance formalise the commitment of the signatories to ensuring decision-making along ESG criteria; raising awareness with clients and partners on ESG criteria; collaboration with governments and regulators to promote action on ESG criteria; and accountability and

transparency of progress in ESG implementation. According to him, the corresponding list of possible actions provides a common anchor and framework for the insurance industry to manage ESG issues. This he said was expected to enhance the industry’s contribution to building resilient, inclusive and sustainable communities and economies. On the regulatory side, Thomas said the current environment was increasingly becoming complex adding that this had heightened the need to ensure effective supervision as well as resolve

broader policy challenges such as inclusive economic development, sustainability, climate risk and digitalisation. He said insurance regulators, therefore, have a vital role to play in sustainable economic development. According to him, they will do this through regulatory and policy initiatives adding that regulators could guarantee that their insurance jurisdictions offer the essential range and variety of products and services that support the SDGs. “Supervisors can also act as conveners of key stakeholders

to building partnerships to coordinate insurance solutions, especially when faced with multifaceted risks such as climate change and pandemic risk, ”he said. He said the conference aimed to explore ways that insurance could play a significant role in helping African countries achieve the United Nation’s Sustainable Development Goals (UN SDGs) in terms of economic growth, social inclusion, and environmental protection and ensure sustainable development in the African insurance sector. “It would appear that the

role of insurance has been somewhat relegated within the context of the SDGs. This is because the current indicators largely do not capture specific insurance related metrics. To be able to better assess the role of insurance and motivate the industry to contribute more to the SDGs, more consistent and disaggregated data collection is recommended” he stated. He noted that the insurance industry performed a very critical role in promoting economic, social and environmental sustainability and could help countries achieve the UN SDGs.

EXTERNAL RESERVES DROP BY $971.4M IN Q1 AMID 49% GAIN IN CRUDE OIL PRICE from crude oil are utilized in the payment of debt service. According to him, while other countries are benefiting from a hike in crude oil prices due to Russia’s invasion of Ukraine, Nigeria is lamenting. In his words: “Nigeria spent the foreign exchange earnings on services of debt and importing refined petroleum products to which if we are creative enough to allow our refinery to work, it would not have been a major product for us as a country. “Until our government becomes

creative enough and understands that there is a need to diversify our means of foreign exchange earnings and stop the import of petroleum products after spending huge amounts of money, we will continue to be in the tight corner and continue to see the impact on foreign exchange rate.” On his part, analyst at PAC Holdings, Mr. Wole Adeyeye said: “The bulk of our foreign exchange earnings come from the oil sector. However, Nigeria has not been meeting its OPEC crude oil production quota due to the oil theft and pipeline

vandalism. “Although, the price of crude oil jumped above $100 per barrel in the commodity market in Q1 2022, the dwindling crude oil production may have contributed to the setback recorded in the foreign reserves during the period. “With the recent efforts of the government to fight oil theft and pipeline vandalism in the country, we may likely see a slight improvement in the country’s foreign reserves in Q2 2022.” Analysts at Cordros Securities in a report explained: “In our opinion,

the CBN has enough supply to support the Foreign Exchange (FX) market over the short term, given inflows from the recently issued Eurobond ($1.2 billion) and the International Monetary Fund’s (IMF) Special Drawing Rights (SDRs) “However, foreign inflows are paramount for sustained FX liquidity over the medium term, in line with our expectation that accretion to the reserves will be weak given that crude oil production levels remain pretty low. “Thus, FPIs which have histori-

cally supported supply levels in the IEW (53.8per cent of FX inflows to the IEW in 2019FY) will be needed to sustain FX liquidity levels. Hence, we think (1) further adjustments in the Naira/Dollar peg closer to its fair value and (2) flexibility in the exchange rate would be significant in attracting foreign inflows back to the market.” A member of the Monetary Policy Committee (MPC) of the CBN, Mike Obadan, a Professor of Economics, University of Benin in his personal statement at the January 24-25 meeting said: “Ordinarily,

high oil price should be good news to Nigeria. But the country’s subsisting production challenges and the heavy importation of refined petroleum products have so far prevented it from realising visible benefits from the high oil price regime in the form of accretion to external reserves, stability of the exchange rate and boosting of government revenue.” He, however, called on the government to find lasting solutions to the oil production challenges and continued importation of petroleum products.

T H I S D AY ˾ MONDAY, APRIL 4, 2022

BUSINESSWORLD

STATUS REPORT

BUA Cement: Revenue Growth, Low Finance Cost Drives Profit

Kayode Tokede

ith a 23 per cent increase in revenue and 56 per cent drop in finance cost, BUA Cement Plc grew its profit before tax by 40 per cent as reported in the financial statement for the period ended December 31, 2021. Profit after tax also grew by 25 per cent increase in profit to N90.08 billion in 2021 from N72.34 billion reported in 2020, to positioned Earnings Per Share (EPS) in 2021 N2.66, an increase of 24.5 per cent from N2.14 reported in 2020. The cement manufacturing company growth in EPS was due to the revenue growth, stable margins in the face of elevated cost pressures and moderation in finance cost. Amid growth in profit, the board of BUA Cement has proposed a final dividend of N2.60 dividend per 1 ordinary share of 50 kobo each (an increase of 25.6per cent above N2.07/s in 2020), implying that shareholders are to enjoy a dividend yield of 3.7per cent based on the closing price of N70.75 (March 30).

REVENUE COMPETING WITH PEERS

BUA Cement grew revenue by 23 per cent to N257.33billion in 2021 from N209. 44billion reported in 2020, driven by sale of bagged cement that rose by 23per cent to N256.7 billion in 2021 from N209.01billion in 2020 and sale of bulk cement that appreciated by 40.5per cent to N614.8million billion in 2021 from N437.71million in 2020. The company’s transactions in 2021 with one customer - Chinedu and Sons contributed more than 10per cent of the total revenue from the sale of cement N27.59 billion (2020: N60.1 billion). BUA Cement reported double-digit revenue growth, in match with the other industry players such as Dangote Cement that recorded 38 per cent increase in revenue to N1.38 trillion and Lafarge that grew revenue by 27.1 per cent to N293.09 billion in 2021. The increase in revenue was majorly driven by significant increase in price of cement in 2021. However, primary geographical markets showed that BUA Cement’s outside Nigeria grew by 63.42 per cent to N2.33billion from N1.43billion in 2020, while revenue in Nigeria

grew by 23 per cent to N254.99billion in 2021 from N20802 billion in 2020. The company’s Cost of Sales (CoS) grew by 19.3 per cent to N136.4billion in 2021 from N113billion in 2020 to drive 27 per cent increase in gross profit to N120.9billion in 2021 from N95.5billion in 2020. Consequently, the proportion of CoS/ Revenue dropped to 53 per cent in 2021 from 54.4 per cent in 2020, while cost of sales margin dropped from 48.1 per cent in 2021 from 48.4 per cent in 2020. In addition to ratio, BUA Cement gross margin rose to 51.9 per cent in 2021 from 51.6 per cent in 2020. BUA Cement reported N2.63billion non-core business income in 2021 from N375.52million in 2020. Sundry income relates majorly to FGN promissory notes that matured and were liquidated during the year, the sale of iron or metal scraps, grinding aid tanks and scrapped pipes. BUA Cement explained that it recognised modification gains in the sum of N1.4 billion (2020: Nil) with respect to government grant and other long term loans. “The Fidelity bank and Union bank long term loans had their interest rates reduced. Previously, the loan had an initial interest of 5% for the first 5 months and nine per cent for the subsequent months. The five per cent initial interest rate was increased for a further 12 months by the Central Bank of Nigeria, and nine per cent subsequently. “Both loans commenced in October 2020, hence the initial five per cent interest rate was meant to end in February 2021, however, due to the extention granted, the five per cent will continue until February 2022, and the nine per cent interest charge will now commence from March 2022.” For the year under review, BUA cement reported Operating Expenses (OPEX) grew by 27.3 per cent to N19.33billion in 2021 from N15.19billion in 2020, due to sharp increases in admin expenses that grew by 29.1 per cent to N13.32billion in 2021 and selling and distribution expenses rose by 24 per cent to N6.01 billion in 2021 from N4.86billion in 2020.

With 28 per cent decline in finance income to N520.6million in 2021 from N859.62million in 2020, finance expenses dropped by 55.5 per cent to N1.71billion in 2021 from N3.84billion in 2020. The substantial decline in finance cost to the marked reduction in gross debt by 26.8 per cent to N197.05 billion in 2021 from N269.29 billion in 2020. Overall, Profit before Tax (PBT) grew by 30.4per cent to N102.87 billion in 2021 from N78.87billion in 2020, with related PBT margin improving by 2.3 basis points to 40 per cent in 2021 from 37.7 per cent in 2020.

DROP IN TRADE & OTHER RECEIVABLE

BUA Cement reported decline in total assets, as current assets that was down by 40 per cent to N144.2billion in 2021 from N238.6billion in 2021 was the major factor. The company, thus reported N584.31 billion in non-current assets to N527.7billion to plunge total assets by five per cent to N728.5 billion from N766.3 billion in 2020. As total liabilities dropped by 15.4 per cent to N330.4billion in 2021 from N390.4billioni in 2020, BUA Cement grew total equity by six per cent to N398.12billion in 2021 from N376billion in 2020. Meanwhile, the company’s borrowing dropped from N156.1billion in 2020 to N83.5billion in 2021. The company explained that: “Current bank borrowings relate to short term Import Finance Facilities (IFF) from several Nigerian banks with average maturity of 12 months. They also include the portion of non-current bank borrowings repayable within the next 12 months. Non-current bank borrowings are secured by fixed and floating assets of the Company. “They include N26 billion obtained from First Bank of Nigeria Plc for a period of 48 months with effect from July 2020 at a floating interest of 13.5per cent per annum. N2billion was obtained from Union Bank of Nigeria and Fidelity Bank each for a period of 120 months with effect from October 2020 at a floating interest of five per cent

per annum till February 2022 and then nine per cent afterwards.” On debt security issued in 2021, BUA Cement reported N113.56billion in 2021 from N113.2billion in 2020. It added that: “The Company issued a local bond of N115 billion on 30 December 2020 with a coupon rate of 7.5% payable semi-annually (Series 1 of N200 billion bond issuance programme). The bond has a tenor of 7 years and is due on 30 December, 2027. There is a moratorium of 3 years on the principal repayment of the bond, whilst interest is payable on a semi-annual basis at their respective interest rates. BUA Cement Plc will have the right to exercise a call option to effect early redemption of the bonds, either in part or in whole, as from the expiration of 48 months from the issue date, in accordance with the provisions of the Series 1 Trust Deed. On initial recognition of the Series 1 bond, management assessed the impact of the call option on the contractual cash flows to the bondholders and determined that the call option does not materially affect the contratual cashflows of the debt host contract, hence the option is closely related to the host contract and is not bifurcated from the host contract. The Series1 bond has been classified as a debt measured at amortised cost using effective interest rate.”

ANALYSTS VIEW

According to analysts at Cordros research: “We like that BUA Cement optimised its price/ volume mix to keep margins stable despite energy cost pressures caused by the local currency devaluation amidst high inflationary pressures. “We expect private sector demand for cement to moderate this year as activities in the real estate sector normalise to pre-pandemic levels. “In addition, we are concerned about the ability of the company to transfer the burden of elevated energy prices to consumers in a bid to preserve margins, given that cement producers have raised prices significantly over the past two years. “Nevertheless, we believe economies of scale associated with the new and energy-efficient Kalambiana line II (3MMT) will provide some support for margins. Our estimates are under review.”

ZENITH, ACCESS BANK, OTHERS SUSTAIN NPL RATIO BELOW CBN’S REQUIREMENT “The Group improved its asset quality with IFRS 9 Stage 3 loans closing at 6.04per cent in 2021 from 6.39per cent in 2020. “The marginal increase in prudential NPLs from 6.86per cent to 6.92per cent was as a result of stress noted with certain exposures within the Hospitality, Individuals, Clubs, Co-operative Societies and Unions as the Obligors within these sectors were severely impacted by Covid-19. “Downstream sector benefited

from the N7.2billion write-off in FY 2021 as its NPLs improved to 8.6per cent in 2021 from 11per centin 2020. IFRS 9 Stage 3 loans closed at N113.9billion as at FY 2021 increasing by 2.2per cent from N111.5billion in 2020. Balance Sheet Impairment Allowance for Stage 3/Lifetime Credit Impaired exposures closed at N57.5 billion representing 50.5per cent coverage of Loans in this classification. “In aggregate terms (including Regulatory Risk Reserves

of N87.6billion), the Group has adequate coverage of 150.4per cent for its Stage 3 names/NPLs, this position is consistent with the Group’s plan to maintain 100 per cent coverage for its NPLs.” Members of the Monetary Policy Committee of the CBN, had earlier applauded the management’s efforts in ensuring the continued downward trend of NPLs ratio, signifying improving conditions in the banking system The MPC members also noted

the sustained resilience of the banking system, following the progressive improvement in the NPLs ratio from 5.10 per cent in November 2021 to 4.85 per cent in December 2021- a first in a long time. In her personal statement, a member, CBN Deputy Governor, Aishah Ahmad, said NPLs dropped to its lowest level in over a decade despite the increased lending by banks. She noted that total credit had

increased by N4.09 trillion between the end of December 2020 and December 2021 with significant growth in credit to manufacturing, General commerce and Oil & Gas sectors. According to her, “Key industry aggregates also continued their year-on-year upward trajectory with total assets rising to N59.24trillion in December 2021 from N50.99 trillion in December 2020, while total deposits rose to N38.42 trillion from N32.21 trillion over the same period.

“Total credit also increased by N4.09 trillion between end- December 2020 and end-December 2021 with significant growth in credit to manufacturing, General commerce and Oil & Gas sectors. “This impressive increase was achieved amidst continued decline in non-performing loans ratio from 5.10 per cent in November 2021 to 4.94 per cent in December 2021, 6 basis points below the regulatory benchmark for the first time in over a decade.”

T H I S D AY ˾ MONDAY, APRIL 4, 2022

BUSINESSWORLD

NEWS

Lagos Free Zone Investment to Hit $3.5bn in 2024 Gilbert Ekugbe Owners of the Lagos Free Zone (LFZ) have stated that its investment in the LFZ is expected to hit over $3.5 billion in 2024. According to them, the move is a clear demonstration of its commitment to the Nigerian economy, adding that over $2 billion has been expended so far in the LFZ project. The Managing Director and

Chief Executive Officer, LFZ, Mr. Dinesh Rathi, at a media parley to hint newsmen over the level of progress made so far said over 30 per cent of the zone has been developed so far with plans to take the development to 35 per cent by the end of 2024. He said the LFZ is Nigeria’s first private owned free zone that aims to be the most preferred industrial hub in West Africa with world class-infrastructure,

facilities and services. He noted that the zone is open to business and has readily available infrastructure such as warehouse standard factory, police station, truck park, compressed natural gas, medical facility, residential apartments and retail banks. “We believe that with the African Continental Free Trade Agreement (AfCFTA) with a market of over 1.2 billion people,

Nigeria is the best place to set up investment due to its large population. We are very optimistic going forward,” he said. Rathi said the goal of the project is to strengthen Nigeria’s position as a commercial centre and preferred industrial hub in West Africa with world-class infrastructure, facilities and services. Highlighting the benefits of the zone, the LFZ boss said operating in the zone guarantees no federal,

state and local government taxes, levies and rates, no import duties applicable on goods imported from outside the country, up to 100 per cent finished goods may be exported into Nigeria Customs Territory on the payment of appropriate duties along with a valid license. Promoted by Tolaram, a Singaporean enterprise with over four decades of experience in Nigeria, LFZ is located in Lekki, the sunrise

development corridor in Lagos. “We understand how important the project is for the Nigerian economy and the country needs more projects to unleash its potential. With the Lekki port completion, the real benefit of what we have been building, in the next five years, will put IbejuLekki as one of the communities contributing largely to the gross domestic product (GDP) of the economy,” he said.

Visa, Bantu Collaborate to Drive Financial Inclusion in Africa

Kayode Tokede

Visa has announced that it is collaborating with the Bantu Blockchain Foundation (Bantu), custodians of the Bantu Blockchain Network infrastructure to drive financial inclusion in Africa. Visa in a statement noted that, the collaboration is meant to connect its digital asset-linked Visa cards to the Bantu Network Token (XBN), a utility token developed by Bantu to facilitate fast and secure transactions on the Bantu blockchain. This collaboration according to Visa, will be supported by a major Pan-African bank and leading Visa banking identification number (BIN) sponsor and will open up immense opportunities for increased economic activities in Africa, starting with Zambia, Nigeria, Ghana, Kenya, South Africa, the Democratic Republic

of the Congo, Rwanda and at least six other countries. Speaking on the collaboration, the Chief Operating Officer, Bantu, Victor Akoma-Philips, said, “At Bantu, we believe that the right technology tools and collaborations applied to the right problem will create large-scale positive social impact. This collaboration with Visa will help to create a new Web3 social impact framework.” Also commenting, the Head of Social impact at Visa for Central and Eastern Europe, Middle East and Africa, Carl Manlan said, “Visa believes that greater financial knowledge can empower people to better manage their money and improve their quality of life. We are delighted to partner with Bantu to help young people learn the fundamentals of personal finance, including budgeting, saving and responsible spending.”

Stanbic IBTC Launches Reward4Saving Promo Season 2 Nume Ekeghe

Stanbic IBTC Bank Plc, a subsidiary of Stanbic Holdings PLC, has launched the season two of its savings campaign, Reward4Saving promo, as part of its continued commitment to promoting a savings lifestyle while rewarding its customers. Themed; “Bigger and Better,” the Bank said the second edition of the campaign promises to be bigger and better than the previous edition, with more prizes to be won this season. Chief Executive, Stanbic IBTC Bank Plc, Wole Adeniyi, stated that the Reward4Saving promo, Season two, would produce more millionaires across all regions in the country. The second edition of the

Reward4Saving promo will reward 840 customers in the monthly draws, 10 customers each across seven zones will be rewarded with N100,000 each for the next twelve months. We will also reward 28 customers, one customer per zone with N1 million in the quarterly draws and seven customers, one customer per zone with N2 million in the grand finale,” he said. “Stanbic IBTC is committed to promoting a savings culture in the society hence the campaign. We seek to encourage people to develop a habit of saving for unprecedented occurrences. As promised, we will continue to introduce more initiatives that will not only improve customer experience but also impact the lives of our customers,” he said.

Sterling Partners DKM To Develop Africa’s Next Big Star Nume Ekeghe Sterling Bank Plc, Nigeria’s leading commercial bank, has signed a Memorandum of Understanding (MoU) with D Kings Men Media (DKM) Limited as part of its commitment to the development of the creative industry in Nigeria. Sterling Bank’s Head of Creative Industries Financing, Mr. Olanrewaju Olalusi in a statement said the partnership is designed to forge a strategic collaboration, which would, among other things, make Sterling Bank a key financial and investment partner by leveraging access to DKM’s

creative and entertainment business. Olalusi added: “Sterling Bank would also facilitate DKM’s access to funding, and other financial services; identify and collaborate on possible opportunities towards ensuring the growth and expansion of DKM’s business across the Nigerian entertainment industry and sub-Saharan Africa. The Chairman, DKM, Daniel Oladapo Oyebanjo popularly known as D’Banj spoke about the collaboration as a great opportunity to improve, encourage and support talents in Nigeria and Sub-Saharan Africa creative industry.

WELCOME TO PARALLEX BANK…

L–R: Principal Investment Officer, International Finance Corporation (IFC), Babatunde Obaniyi; Manager Sub-Saharan Africa, IFC, Gökhan Kont; Managing Director, Parallex Bank Limited, Olufemi Bakre, and Chief Credit Officer,IFC, Adnan Khan, during a courtesy visit to Parallex Bank head office in Lagos...recently

Africa Agility Foundation Recognises SAHCO As a way of supporting gender equity and empowerment of women, Skyway Aviation Handling Company PLC (SAHCO) has identified with the Education and Support of Girl’s Child by partnering with the Africa Agility Foundation, a non-profit organization dedicated to educating, training and mentoring young Girls in Information Technology (IT).

Speaking during the grand finale of the programme, Founder/CEO of Africa Agility Foundation, Aanu Gopald said, “Our mission is to transform lives, one girl at a time through tech education” The foundation is dedicated to empowering 500,000 girls by the year 2030. As a way of appreciating the unwavering support of Girls child

in Nigeria, African Agility Foundation has honoured SAHCO PLC. According to the founder/CEO Africa Agility Foundation, Aanu Gopald, the award is in recognition of SAHCO unwavering support and partnership for Girls in I.T program, “There is no better organisation that deserves the award than SAHCO because of

its steady support for Girl’s Child Education in Nigeria” While responding to the award, the Managing Director/CEO, Basil Agboarumi said he is elated and thanked the organizer for finding SAHCO worthy of the award, stating that he will continue to do his best to support Girl’s child education.

Standard Chartered Launches Women Winning with Wealth Proposition Standard Chartered Bank Nigeria launched a double packed proposition for women! The Bank launched its Women Banking and Women Winning with Wealth (WWWW) proposition, in commemoration of International Women’s Day and to wrap up the month-long celebrations for women in March; to help women advance financially and sustainably. Speaking at the event, Head of Corporate Affairs, Brand and Marketing, Dayo Aderugbo, highlighted how they work as one in pursuit of their goal, to reduce gender inequality and empower women development through financial education, opportunity and stability The unique and wellresearched offering will enable women entrepreneurs to acquire comprehensive financial and investment support as well as mentoring to start and grow their own businesses, increase their net worth, expand their investment capacity, achieve financial stability, and more.

Aderugbo, noted that at this opportune moment in time, when people are exploring new opportunities, women are at the forefront of innovation and technology that continues to push frontiers once considered impossible. Aderugbo said, “For us as women, there has never been a more important time to express ourselves and strive for success in the areas that matter most, which include wellness, security, financial stability, freedom, and most importantly, to be the best version of ourselves. At Standard Chartered, we also recognize that we need to lean into this moment, to support and accelerate change, innovation and transformation that benefits every human being, especially women. “As part of its key objectives, Standard Chartered Bank is intent on improving the lives of 1 billion people by unleashing the full potential of women in its core markets, with the focal point being the creation of financial stability and road paths for women to attain equitable access to financial support, especially for

small businesses. The bank is also committed to accelerating the provision of quality financial services to women across its markets, purposefully connecting Small and Medium Enterprises to the international market and building partnerships to expand the reach and scale of financial services.” The event also featured a panel anchored by the event host, Tolu Oniru-Demuren (aka Toolz), where the bank’s Head of Affluent Banking, Chima Ebor; Head of Wealth Management, Lanre Olajide; and Acting Head of Business Banking, Bisi Oke, provided insight on the new initiative. Speaking on the “Women in Business” propositions, Oke explained that the new offering will provide quality financial and non-financial support to boost productivity and increase economic diversification for businesswomen and businesses with women as majority shareholders. She said, “We have researched extensively, and the core focus is to ensure that we fill

the gender gap. Our propositions, informed by several factors, include cost-saving on business accounts where clients get a 0% maintenance fee on any business account they open. We have affordable loans of up to N20m at discounted rates that are non-collateralized. We also have investment advisors who will hold one-on-one engagements with these business owners to help them grow their wealth.” Ms Chidinma Obi and Ms Uzoamaka Obul, two clients of the bank, recounted their separate experiences opening business accounts with Standard Chartered Bank, giving their assessment of the bank’s service delivery. While Obi commended the relationship managers for their patience and diligence in walking clients through the process and answering questions they may have, Obul encouraged more women to not just put money away as savings but “do some borrowing from the bank to make investments. I encourage all women to join priority bankers.”

Bundle Sponsors Vocational Grants to Over 3,000 Women Nume Ekeghe Bundle, a social trading app has partnered with the Feminst Coalition, and TEFEM, to donate educational and vocational grants over 3000 women. The Chief Executive Officer of Bundle, Emmanuel Babolola, in a statement said: “Bundle’s decision

to support this ecosystem of women is born out of the obvious gap between men and women in the crypto and tech space in general. There is a need for more female representation across all sectors and we want to be a part of this growth.” “We intend to consciously drive inclusion by empowering

these women with the knowledge and resources needed to take the next step. That’s why beyond the grant we will also be offering educational training on Udemy for those who are interested’. The Feminist Coalition believes it is every girl’s right to access quality education. Women’s rights & safety is one of three pillars of

our work and, undoubtedly, girls’ education is a space we are committed to working within, for the advancement of Nigerian women. This donation from Bundle to our Girls Education Program will change the lives of brilliant young girls from disadvantaged communities.” said a Feminist Coalition spokesperson.

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T H I S D AY MONDAY APRIL44,April, 20222022 Monday Vol 27. No 9855 TR

See page 30 DECONSTRUCTING THE ABUJA-KADUNA TRAIN ATTACK WEALTH D. OMINABO writes that the attack amplifies the crisis of governance in Nigeria See page 30 PROJECTING NIGERIA’S IMAGE ABROAD The Voice of Nigeria is doing its job professionally, writes CHUKWUDI ENEKWECHI See page 35 PROMOTING RAPID DEVELOPMENT IN AFRICA FRANCIS E. OGBIMI contends that African nations lack the intellectual capability to direct their development See page 35

EDITORIAL WELCOMING 2022 RAMADAN See page 36

& RE A S O

opinion@thisdaylive.com

www.thisdaylive.com

2023 PRESIDENTIAL ELECTION IS OPEN TICKET The APC has the potential of winning as much as the PDP, contends FREDRICK NWABUFO

UT H

Engaging employees in the decision-making process can impact businesses positively, writes TIMI OLUBIYI

EMPLOYEES AND BUSINESS DECISIONS As businesses grow many decisions come to bear from marketing to funding, expansion, LQYHVWPHQWV RSHUDWLRQV ORJLVWLFV VWD΀QJ technology adoption, and so on, all to enhance the business productivity. Without a doubt, just like individuals make poor choices and bad decisions businesses do too. Business leaders and entrepreneurs make bad decisions not because they are not clever or experienced, but because they are humans. Certainly, humans are never perfect decision-makers at all, a bad decision can occur once in a while or repeatedly and such is the case with business leaders, entrepreneurs, top management, and/or owner-managers of businesses around as well. As important as decision-making is in business operations, the good news is that business failures KDYH EHHQ LGHQWLÀHG ODUJHO\ WR EH GXH WR SRRU decision-making by the operators, owners, or business managers. Why is this good news? In my opinion, understanding the major cause of past business failures could help restrain many entrepreneurs or businesses from repeating this error clearly. Since poor decision-making has EHHQ LGHQWLÀHG DV D PDMRU FRQFHUQ IRU EXVLQHVV sustainability, therefore, making a good choice most time is important for any business, though this can be argued. In business, no matter the structure in place, decision-making is key and is one of the main indicators of a high-performing business or one of the indicators of how healthy a business is. Remember, not having a decision-making process is in itself a decision on its own. I have observed keenly that a large number of the businesses be it large or small in Nigeria, particularly the ones in the industrialized states and areas, relish taking shortcuts as a normal practice and they hardly ever have an articulated decision-making process within their businesses. It is rather worse in small-scale businesses where decision-making could be the sole responsibility of the operators or business owners. In fact, in small-scale businesses, the most common cause of poor decision is that the operators are so dominant with excessive managerial control that they see decision-making as their sole right without any recourse to the ideas or opinions of employees or others. This is the big issue really. Furthermore, no initiative or contributions from employees and subordinates are ever considered, key decision making is never participatory and this sometimes leads to business concerns. A decisionmaking responsibility before, during, and after any implementation of a task in a business should not be the entire decision of the business owners. Playing the obvious role of the sole expert in all departments, units, and concerns of the business operations by the owners is never sustainable but damaging, this action has been captured as one of the major causes of the incidence of widespread business failures amongst small -scale businesses in the country. A good decision can enable a business to thrive and survive long-term, while a poor decision can lead a business into failure. A common behavior of leaving things to chances when decisive action ought to be taken are also decisions but a poor one at that, which can bring huge consequences on the business. This worrying development amongst small-scale business operators has cost

many their fortune, particularly with the advent of the coronavirus pandemic (COVID-19) which has been impacting the economy and businesses negatively. It should be a time for decisionmaking for businesses and not a time to operate aloof. The coronavirus pandemic has changed the world and also signaled a new era for businesses, therefore, there is a need for business operators to take strategic decisions, most notably in the manufacturing, retail, and service sectors due to technology disruptions. Yet business operators in these mentioned sectors disregard this all-important activity. The failure of any business or venture in making good and quality decisions could be a result of many factors, such as inexperience, lack of time, stress, overwork, and pressure from stakeholders, among others. All these can lead to poor decisionmaking and the eventual failure of any business. The quality of decisions in any business directly impacts its performance and overall business outcomes. Small business operators should understand WKDW LW LV KHDOWK\ IRU VWDͿ WR GLVDJUHH RYHU decisions if the views defer. It only helps to make D SURSHU DQG HͿHFWLYH GHFLVLRQ IRU WKH EXVLQHVV DW the end of the day. Leaders should purposefully create a culture where debate and disagreement are welcome. Remember, decision-making is the action or process of thinking through possible options and uncertain outcomes, and selecting the best option concerning the business. This decision-making could bother on marketing, ÀQDQFLQJ FXVWRPHU VDWLVIDFWLRQ LQYHVWPHQW DQG technology usage in the business. It is often shocking that once known and thriving businesses can suddenly go under and cease to operate as a result of what most times seem to be poor decision-making and mismanagement. In the case of big and widely known multinational businesses like Kodak, Nokia, Motion Blackberry, and Motorola, the managements ignored the shift in technology and failed to be decisive in their decision making particularly on innovations until it was too late despite the vantage position. Though Nigeria has a tough operating environment and harsh economic factors,

Just on Ogudu Road via Ojota in Lagos State, businesses that were once the toast of teeming residences and customers such as Cherries Superstore, Terminal 3 Restaurant, CCD Stores, and The Mr. Biggs Eatery, Ogudu branch, have all now remained permanently closed, failed, or sold oﬀ in what seems to be poor decision making from the management

however many of the small businesses and start-ups in the real estate, retail, manufacturing, corner shops, and service sectors among others have lost their relevancies due to poor or lack of prompt decision-making. For instance, just on Ogudu road via Ojota in Lagos State, businesses that were once the toast of teeming residences and customers such as Cherries Superstore, Terminal 3 Restaurant, CCD Stores, and The Mr. Biggs Eatery, Ogudu branch, have all now UHPDLQHG SHUPDQHQWO\ FORVHG IDLOHG RU VROG RͿ in what seems to be poor decision making from the management. This is the fate of so many of the medium-small scale businesses in Lagos State and indeed Nigeria, they disappear after few years of operations and never grow to become intergenerational businesses. One of the worst things to do in business is to ignore customers’ preferences, revolutionary innovations and also fail to adapt to changes within the business environment as quickly as possible. The high business mortality rate in Nigeria is mainly due to these reasons. Entrepreneurs and operators try to protect what they already have going for them, instead of having a decision-making process that can always suggest innovation and ways of doing things better to meet and surpass customers’ expectations. Many businesses still follow this rigid path, particularly in the manufacturing, services, and retail businesses, lacking the foresight of the advent of online presence, e-commerce, and technological shift occasioned by COVID-19. In my view, businesses need to have a sound decision-making policy that is in tune with the current realities of aggressive social media and internet usage. We have experienced a major cultural shift in customers’ behavior with the COVID-19; businesses need a decision-making process to review their activities from time to time. This will help to adapt to the economic and environmental changes accordingly. Multiple studies have suggested that engaging employees in the decision-making process can impact businesses positively, make them more committed to business success, have stronger connections with the businesses, increase engagements and also help produce higher quality results. Therefore, building a participatory decision-making culture is recommended for businesses particularly small-scale businesses at this time. This strategy will more than likely improve the competitive position and HͿHFWLYHQHVV RI WKH PDQDJHPHQW RSHUDWRUV DQG business owners. Because making decision is a FULWLFDO FRPSRQHQW RI HͿHFWLYH OHDGHUVKLS KHQFH involving employees in the process will help businesses make better decisions. Let the truth be told inexpensive and reasonable businesses built around clothing, housing, potable water, medical care, education, home essentials, shopping and food items will always have economic demands. Thus, in as much as the adequate and proper decision-making process or policy is in place, that should give the needed competitive advantage and make businesses not to ordinarily fail. Dr. Olubiyi is an entrepreneurship and business management expert

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T H I S D AY MONDAY APRIL 4, 2022

WEALTH D. OMINABO writes that the attack amplifies the crisis of governance in Nigeria The APC has the potential of winning as much as the PDP, contends FREDRICK NWABUFO

DECONSTRUCTING THE ABUJA-KADUNA TRAIN ATTACK

2023 PRESIDENTIAL ELECTION IS OPEN TICKET Nigeria’s political party dominance has often revolved around a two-pod and a tripod. Since the 1960s it has been so. In the First Republic, under a parliamentary system, there were Nnamdi Azikiwe’s National Council of Nigeria and the Cameroons (NCNC); Obafemi Awolowo’s Action Group (AG) and Ahmadu Bello’s Northern Peoples Congress (NPC) as the leading political groupings. There were a few other viable political entities like Aminu Kano’s Northern Elements Progressive Union (NEPU), but none had the puissance of the big three. In the Second Republic (1979), under a presidential system, there were the National Party of Nigeria (NPN); the Nigerian Peoples Party (NPP), and the Unity Party of Nigeria (UPN) as the three leading political structures. The People’s Redemption Party (PRP), an ideological

The reality is that only the APC and the PDP are viable political vehicles. It is easy to theorise and sermonise about the deﬁciencies of these parties but the peculiarities of our political cosmos give them the oxygen and nourishment to survive rebirth of Aminu Kano’s NEPU – was also reckonable -- but only for its ideological leanings which appealed to the educated elite. But it did not have the stature and spread of the famous three. In the still-birthed 1993 presidential election, there were the National Republican Convention (NRC) and the Social Democratic Party (SDP) as the two contending political blocs. The Babangida regime which midwifed the election principally ensured that only two political parties subsist. But the Third 5HSXEOLF VXͿHUHG D PLVFDUULDJH XQGHU WKH impingement of the military. ,Q LW ZDV DQ DOO FRPHUV DͿDLU initially but eventually natural selection happened. Only two political parties stood out at the centre – the Peoples Democratic Party (PDP) and the Alliance IRU 'HPRFUDF\ ZKLFK WUDQVPRJULÀHG LQWR the Action Congress of Nigeria (ACN). Today, there are only two leading political camps – the PDP and the APC. Darwin’s theory of evolution is manifestly evident in Nigeria’s political progression. The parties that have the resources, capacity and structure to adapt, merge, and re-merge have been able to survive the tempestuous political milieu. In 2021, INEC deregistered 22 political parties – those unable to achieve advantageous mutations. And more will die out after the 2023 elections. The reality is that only the APC and the PDP are viable political vehicles. It is easy to theorise and sermonise about

WKH GHÀFLHQFLHV RI WKHVH SDUWLHV EXW WKH peculiarities of our political cosmos give them the oxygen and nourishment to survive. Both parties have functional advantage over other parties in elections. In the recently concluded area council election in the Federal Capital Territory (FCT), the winnings were split between the APC and the PDP – three each out of six councils. It is intellectual torment to keep debating the ideological grounding and morality of these parties. Sheer self-purgatory. As I said earlier, these parties subsist because that is what our present political evolutionary curve guarantees. But the outcome of the 2023 elections may cause a seismic jolt in WKH SROLWLFDO WHUUD ÀUPD Atiku Abubakar, PDP presidential hopeful, had said the party would pass into oblivion if it did not win the 2023 presidential election. This is likely for both the APC and the PDP after 2023 – whichever group that loses the election. Natural selection will happen, and there could be alliances, mergers and re-alliances. The 2023 presidential election is an open ticket. The incumbency element is absent. So, candidates of the APC and the PDP will be going into the election as underdogs. 7LPH KDV VKRZQ LQÁXHQFLQJ HOHFWLRQV is not President Muhammadu Buhari’s interest. He has told APC leaders again and again that he is not interested in who succeeds him and that he is not prepared to LQÁXHQFH HOHFWLRQV IRU DQ\ FDQGLGDWH When asked if he has a preferred candidate for the 2023 presidential election in a Channels Television interview in January, he said: “I’m not interested. It is not my problem. It is not my interest. I cannot say who succeeds me.’’ In fact, in 2019, Buhari warned that no candidate should campaign with his name for the 2023 elections. His words: “Well, what I want to promise Nigerians is that I will work very hard on ensuring free and fair elections. All those that are going to succeed the National Assembly and the presidency, they better work very hard because I will make sure I use the law enforcement agents to ensure that elections are free and fair (and that) nobody uses his R΀FH RU KLV UHVRXUFHV WR IRUFH KLPVHOI RQ his constituency.’’ The pattern and outcome of elections in Edo, Anambra and elsewhere have shown that Buhari is principled about allowing fair-play in elections. So, any candidate EDQNLQJ RQ LQFXPEHQF\ LQÁXHQFH RU interference may be seeking the holy grail. Essentially, Nigerians will be voting for the candidates these two political parties present. This is the clincher. The popularity of the candidates will determine where the votes swing. The APC and the PDP will be the vehicles for the elections, but the candidates will be the drivers. The APC has the potential of winning as much as the PDP. Nothing is discounted. Any of the parties can win. The 2023 presidential election is a contest for survival.

Nwabufo LV D ZULWHU DQG MRXUQDOLVW

The attack on the Abuja-Kaduna train happened last Monday. About eight people are reported to have died while more than 25 were said to have been injured with many XQVSHFLÀHG QXPEHUV RI SHRSOH DEGXFWHG RXW RI the over 300 people that were on board the train. The attack came a few days after the Kaduna airport was attacked and about six months after the train on the same corridor was attacked. It could be recalled that in October 2021, bandits were reported to have attacked the same Abuja -Kaduna train. 7KH 0RQGD\ DWWDFN KDV UHFHLYHG GLͿHUHQW reactions, responses varying from the personalities and groups involved. The Minister of Transportation, Mr. Rotimi Amaechi, while speaking to journalists at the scene of the event lamented that he knew that the attack was bound to happen someday, that they had made a proposal for the purchase of security equipment. He said: “We knew what the problems will be. We know we needed to have digital security equipment on the corridors. We applied for it. Let me just stop here so I don’t hurt so many people. But I heard the president has given a directive that the procurement must be completed immediately. “If we had those equipment on the tracks, you will see the entire track. And we warned that lives would be lost. Now lives were lost. Eight persons dead and 25 persons in the hospital. We don’t know how many people have been kidnapped. And the cost of those equipment is just N3bn. The cost of what we have lost is more than N3bn. The minister’s statement beggars belief. It shows gross negligence, lack of accountability and complacency on the part of those in authority, disdain for human life and utter disregard for responsibility. If those in power knew that the train was susceptible to attack why risk the lives of citizens? If it was established that the security gadgets are necessary for the safety of lives and properties, why allow the train to operate without the security cameras knowing the security implications? This incident tells a story of a nation in crisis. The Monday’s attack is a sour commentary on the state of our nation, it is a manifestation of the vanquishing stature of the Nigerian state. A tragedy that questions the success claims of WKH JRYHUQPHQW LQ WKH ÀJKW DJDLQVW WHUURULVP 7KH DWWDFN DPSOLÀHV WKH FULVLV RI JRYHUQDQFH the dysfunctionality of the Nigerian state and its institutions, the ceding of space to non-state actors. This is a sad reality, one that sends a wave triumphalism in the camp of the terrorists. For years, the Abuja - Kaduna road has been considered as a highway to the grave because of reported cases of deaths and abductions. The federal road has been a fallow ground for criminal enterprise where bandits perpetuate their activities with little or no opposition from state actors. The road is seen as an ungoverned space that has been ceded to bandits and other associated criminals. This made citizens resort to the train services as the only safe means to Kaduna from Abuja and its other neighbouring areas. The attack on Abuja-Kaduna train and the Kaduna airport is strategic; these terrorist JURXSV DUH H[SDQGLQJ WKHLU VSKHUHV RI LQÁXHQFH - asserting their strength and questioning the capacity of the state to contain them. $OVR VLJQLÀFDQW LV WKH IDFW WKDW WKHUH LV WKH tendency for citizens to surrender some aspects of their freedoms especially those pertaining to association and movement to terrorists because of the fear of death. If Abuja-Kaduna road and the train as well as the Kaduna airport have all come under attack in recent times, the wise thing to do is avoid these routes except when extremely necessary. The implication here is that this trend, if it subsists will create more ungoverned spaces. Kaduna before now, was seen as the security fortress of Nigeria, regarded as the most garrisoned state. It hosts many strategic security institutions of the country including the Nigerian Defence Academy (NDA), Defence Industries

Corporation (DICON), Nigerian Army School of Artillery in Kachia, Nigerian Navy School of Armament Technology, State Security Service Training Academy, Police College, the Nigerian College of Aviation Technology (NCAT), and many other military formations. It is therefore strategic for the terrorist to choose Kaduna as a theatre of war; to triumph in Kaduna will be a show of strength. This is why government must rise to its responsibility of ensuring security. The successful attacks on strategic places in recent

times should serve as a clarion call to our leaders that Nigeria is collapsing. Gradually, our cities are falling to the grip of non-state actors. Institutions, national assets, are symbols of national security and when these institutions are attacked at will by non-state actors it foreshadows a sad political fate for our nation. The Nigerian government has not given WKH GHVLUHG DWWHQWLRQ WKDW WKH ÀJKW DJDLQVW terrorism deserves. The counterterrorism and counterinsurgency strategy has been FKDUDFWHUL]HG ZLWK SROLWLFV FRQÁLFWV RI interest, policy somersault, inter-agency rivalries and lack of proper coordination. There is the need for government and security agencies to prioritize intelligence in WKH ÀJKW DJDLQVW WHUURULVP DQG LQVXUJHQF\ Terrorism is not a conventional war, it requires non-conventional tactics to subdue the terrorist. It is in this regard that government must improve its approach on internal security. 7KH WUXVW GHÀFLW EHWZHHQ VHFXULW\ DJHQFLHV which redounds to interagency rivalries and FRPSHWLWLRQ DPRQJ WKH GLͿHUHQW VHFXULW\ RXWÀWV VKRXOG EH DGGUHVVHG 7KH LVVXH RI ORZ PRUDOH E\ R΀FHUV QHHGV WR EH WDFNOHG A counterterrorism strategy that will address the many gaps within Nigeria’s security architecture is needed now. A whole of society approach to security is urgent. A concise and implementable strategy that will be intelligence driven, a framework that is citizen-centered is the way to go. Part of the challenges of internal security in Nigeria today is mistrust - the love-hate relationship between citizens and security agents. The adversarial relationship between civilians and security agents owing to the bitter experiences of citizens has been a challenge in many ways especially when it comes to intelligence gathering. Citizens are the custodians and primary source of intelligence. To succeed in this asymmetric warfare, citizens, especially civilians must be involved in the business of security. State actors can do well to see citizens as equal stakeholders on issues of security and peace. They should accord civilians the dignity they deserve by upholding their rights and freedoms and stop seeing them as bloody civilians, objects of scorn and subject of oppression. Ominabo LV WKH &RPPXQLFDWLRQV 2΀FHU DW WKH *RRGOXFN -RQDWKDQ )RXQGDWLRQ

MONDAY APRIL 4, 2022 • T H I S D AY

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T H I S D AY MONDAY APRIL 4, 2022

The Voice of Nigeria is doing its job professionally, writes CHUKWUDI ENEKWECHI

PROJECTING NIGERIA’S IMAGE ABROAD :KHUHDV PDQ\ 1LJHULDQV VHH WKH world from the news and perspectives of various global radio and television networks- mostly western-inclined, the Voice of Nigeria has remained the major news outlet through which the global FRPPXQLW\ VHHV 1LJHULD DQG LWV SHRSOH The dominant radio and television QHWZRUNV DFURVV WKH JOREH DUH &11 9RLFH RI $PHULFD %ULWLVK %URDGFDVWLQJ &RUSRUDWLRQ 'HXWVFKH ZHOOH UDGLR DQG

$OMD]HUUD WHOHYLVLRQ QHWZRUN 7KH PDMRU objective of all these media organisations is to project their various countries and RZQHUVKLS SRVLWLYHO\ DQG XVH WKHLU RXWÀWV WR LQÁXHQFH WKH JOREDO FRPPXQLW\ It was therefore to strike a balance in information dissemination especially as it relates to projecting Nigeria to the RXWVLGH ZRUOG WKDW WKH =LN 7DIDZD Balewa government set up the Voice RI 1LJHULD LQ 6LQFH WKHQ WKH organisation has continued to discharge its mandates, but with the assumption RI R΀FH E\ WKH SUHVHQW 'LUHFWRU *HQHUDO 0U 2VLWD 2NH&KXNZX 9RLFH RI 1LJHULD has taken a quantum leap in not just projecting Nigeria positively abroad, but has also focused on marketing the QXPHURXV DFKLHYHPHQWV RI WKH 3UHVLGHQW 0XKDPPDGX %XKDUL·V DGPLQLVWUDWLRQ In their broadcasts they deliberately dwell on reeling out government’s achievements in infrastructure, economy, security and agriculture, thereby providing potential foreign investors with an opportunity to peep into Nigeria DQG JHW VX΀FLHQW NQRZOHGJH RQ WKH DUHDV WKH\ PD\ EH LQWHUHVWHG :LWK DERXW PLOOLRQ SRSXODWLRQ arable land, oil and gas deposits, gold and numerous business potential, there is no doubt that the information and news analysis being broadcast by the Voice of Nigeria through several platforms, including the social media have contributed immensely in informing and educating their listeners and audiences about the great business opportunities ZKLFK WKH FRXQWU\ RͿHUV 3HUKDSV WKH ]HDO ZLWK ZKLFK WKH 9RLFH of Nigeria promotes Nigeria to the global community can be traced to the passion of LWV FKLHI H[HFXWLYH 'LUHFWRU *HQHUDO 0U Okechukwu who has been a mouthpiece of the numerous achievements of 3UHVLGHQW %XKDUL·V DGPLQLVWUDWLRQ 2Q D daily basis he never relents in availing

the Nigerian publics through radio, television and the print media of the numerous projects the administration has H[HFXWHG DFURVV WKH FRXQWU\ +LV EHOLHI LQ WKH RQHQHVV DQG JUHDWQHVV RI WKH UXOLQJ $OO 3URJUHVVLYHV &RQJUHVV DQG 1LJHULD DV D FRXQWU\ LV XQPDWFKHG /HW PH VWDWH WKDW 2NHFKXNZX·V FDSDFLW\ to turn institutions around for optimum performance is once more demonstrated in his administrative style at the Voice RI 1LJHULD 8QGHU KLV ZDWFK WKH RXWVLGH world is able to hear about Nigeria and the infrastructural revolution taking SODFH XQGHU 3UHVLGHQW %XKDUL DQG WKLV KDV FRQWULEXWHG WR WKH LQÁX[ RI IRUHLJQ investors, as well as the positive attention which the country continues to receive JOREDOO\ The high and commendable performance of the Voice of Nigeria in recent times can also be attributed to the motivation which the workers have been JLYHQ XQGHU 0U 2NHFKXNZX DV WKHLU welfare and promotion have continued WR UHFHLYH DGHTXDWH DWWHQWLRQ 7KLV KDV resulted in optimum job performance with PRVW VWDͿ PHPEHUV SXWWLQJ LQ WKHLU EHVW IRU WKH RYHUDOO JURZWK RI WKH RUJDQLVDWLRQ ,W LV ZRUWK\ RI QRWH WKDW LQ LWV HͿRUWV to reach a higher number of listeners across the world, the Voice of Nigeria has expanded the platforms through which listeners and other audiences can access their broadcasts, and they LQFOXGH ,QVWDJUDP :KDWV$SS <RX7XEH Twitter, Facebook and other social media SODWIRUPV 7KH\ DOVR VWUHDP OLYH WR WKHLU DXGLHQFHV WKURXJK WKH 921 DSSV 7KLV is in addition to their normal terrestrial EURDGFDVW For an organisation that was established LQ ZLWK WKH VROH PDQGDWH WR EURDGFDVW about Nigeria to the outside world, it can be said that they have largely attained the objective bearing in mind that it ZDV DIWHU \HDUV RI WKH RUJDQLVDWLRQ·V establishment that it was severed from WKHQ 1LJHULDQ %URDGFDVWLQJ &RUSRUDWLRQ DQG JLYHQ IXOO DXWRQRP\ E\ DQ $FW RI 3DUOLDPHQW 1R RI :LWK R΀FHV LQ VWDWHV RI WKH FRXQWU\ DQG VWDͿ VWUHQJWK RI WKH RUJDQLVDWLRQ now boasts of state- of- the- art studios DW WKHLU FRUSRUDWH KHDGTXDUWHUV LQ $EXMD The station has also been fully digitized as WKH\ QRZ EURDGFDVW WKURXJK 'LJLWDO 5DGLR 0XQGLDO '50 Due to the need to maintain a twoway communication between the station and its audiences, there is a feedback mechanism that enables the audiences and listenership to send back their views through emails, social media platforms DQG WHUUHVWULDO EURDGFDVW V\VWHP $V D VWDWLRQ ZLWK GLYHUVH OLVWHQHUVKLS and audiences, the station broadcasts in HLJKW ODQJXDJHV LQFOXGLQJ ,JER +DXVD <RUXED )XODQL )XOIXGH $UDELF .LVZDKLOL DQG (QJOLVK :LWK WKHLU UHDFK LQ WKHVH languages and in several countries, there is no doubt that VON remains a veritable tool to project Nigeria to the outside ZRUOG There is therefore the need for all concerned to lend the necessary support to the Voice of Nigeria in its mission to continue to promote Nigeria’s image SRVLWLYHO\ DFURVV WKH JOREH

Chukwudi Enekwechi, JP, Kwechis19@yahoo.com

FRANCIS E. OGBIMI contends that African nations lack the intellectual capability to direct their development

PROMOTING RAPID DEVELOPMENT IN AFRICA There is the injunction, ‘think before you act!’ It warns us that except our understanding of a problem is correct, our action aimed at solving WKH SUREOHP FDQQRW EH HͿHFWLYH 7DNH WKH simple illustration of the error at a T-junction; if one turns left instead of turning right at a 7 MXQFWLRQ WKH PRUH WKH HͿRUW PDGH WKH IDUWKHU away one would be from his or her desired GHVWLQDWLRQ 6R WKH SURSHU XQGHUVWDQGLQJ WKLQNLQJ SHUFHSWLRQ RI D SUREOHP PXVW SUHFHGH WKH SURSHU DFWLRQ DLPHG DW VROYLQJ LW 7KLQNLQJ LV DQ LQWHOOHFWXDO DFWLYLW\ ,W LV WKH PDLQ WKLQJ LQ HGXFDWLRQDO LQVWLWXWLRQV 7KXV HGXFDWLRQ LV institutional-learning in which those involved acquire fundamental principles or theoretical NQRZOHGJH (GXFDWLRQ HTXLSV WKH OHDUQLQJ individual with knowledge and develops the PLQG DQG FKDUDFWHU $ OHDUQLQJ LQVWLWXWLRQ PD\ indoctrinate a people and equip them with ideas that are not true, ideas that have no historical or VFLHQWLÀF EDVHV WKDW W\SH RI OHDUQLQJ LQVWLWXWLRQ FDQQRW EH GHVFULEHG DV WUXH HGXFDWLRQDO V\VWHP 7KLV DUWLFOH DUJXHV WKDW LQGHSHQGHQW $IULFD does not have the intellectual capability to GLUHFW KHU GHYHORSPHQW DQG $IULFD FDQQRW borrow the necessary intellectual wherewithal for promoting rapid sustainable economic JURZWK DQG LQGXVWULDOL]DWLRQ 6(*, LQ WKH FRQWLQHQW 7KDW LV WKH SULQFLSDO FDXVH RI WKH $IULFDQ VWDJQDWLRQ RU WKH YHU\ VORZ SURJUHVV LQ WKH FRQWLQHQW /HW XV H[DPLQH WKH LGHDV JXLGLQJ $IULFD·V GHYHORSPHQW SURFHVV $Q LPSRUWDQW TXHVWLRQ DOO QDWLRQV must answer is: what must a nation do to achieve sustainable economic growth and LQGXVWULDOLVDWLRQ 6(*, " $Q\ QDWLRQ XQDEOH WR answer this question intellectually, certainly lacks the intellectual capability to promote rapid GHYHORSPHQW $IULFDQV KDYH QR LQGHSHQGHQW position as to what a nation must do to achieve 6(*, $IULFD GHSHQGV RQ WKH WKLQNLQJ RI :HVWHUQ LQWHOOHFWXDOV LQWHOOLJHQWVLD ZLWK UHVSHFW WR WKH LGHDV DERXW DFKLHYLQJ 6(*, 6R ZH DVN ZKDW GR :HVWHUQ LQWHOOHFWXDOV LQWHOOLJHQWVLD WKLQN LV WKH IXQGDPHQWDO EDVLV IRU DFKLHYLQJ 6(*, LQ D QDWLRQ" :HVWHUQ QDWLRQV WRGD\ DUH DOO ULFK because they are all industrialized, though they ZHUH DJULFXOWXUDO QDWLRQV IRU PDQ\ FHQWXULHV 6R ZH DVN :HVWHUQ VFKRODUV KRZ GLG WKH :HVW EHFRPH LQGXVWULDOL]H" $OO :HVWHUQ LQWHOOHFWXDOV DUH 0DU[LDQ *DOEUDLWK 7KDW LV :HVWHUQ intellectuals were brought up to believe that capital investment is the primary source of VXVWDLQDEOH JURZWK DQG LQGXVWULDOL]DWLRQ 0DU[ ZDV SUREDEO\ WKH ÀUVW WR JLYH FUHGHQFH to the belief that capital investment promotes economic growth when he said in his book, De Kapital, that the key feature of the capitalist system is that machinery facilitates a continuous revolutionary and creative production in agriculture and industry, communication and WUDQVSRUWDWLRQ 0DU[ DOVR VDLG WKDW WKH FDSLWDOLVW PXVW DFFXPXODWH FDSLWDO WR VWDUW :DV 0DU[ correct in his claim that capital investment is the SULPDU\ VRXUFH RI 6(*," No analytical study in relation to the source of economic growth was done till the second TXDUWHU RI WKH WZHQWLHWK FHQWXU\ &KDUOHV &REE D PDWKHPDWLFLDQ DQG 3DXO 'RXJODVV DQ HFRQRPLVW ZHUH WKH ÀUVW WR GHYHORS D WHVWDEOH PRGHO WKDW TXDQWLÀHG WKH UHODWLYH FRQWULEXWLRQV RI WKH IDFWRUV RI SURGXFWLRQ ODERXU / DQG FDSLWDO . WR HFRQRPLF JURZWK LQ D QDWLRQ 'RXJODV DSSO\LQJ WKH &REE 'RXJODV PRGHO WR WKH $PHULFDQ PDQXIDFWXULQJ VHFWRU GXULQJ WKH SHULRG IRXQG RXW WKDW RXWSXW ZDV PRUH UHVSRQVLYH WR / LQSXW WKDQ . LQSXW LQ WKH UDWLR $EUDPRYLW] DQG 6RORZ VKRZHG WKDW DERXW SHU FHQW RI WKH JURZWK RI RXWSXW SHU KHDG LQ WKH $PHULFDQ HFRQRP\ GXULQJ WKH ODWH QLQHWHHQWK FHQWXU\ WKURXJK WKH ÀUVW KDOI RI the twentieth century could not be accounted IRU E\ LQFUHDVH LQ FDSLWDO SHU KHDG $EUDPRYLW] was disappointed at the lopsided importance which his study attributed to non-capital input LQ GHWHUPLQLQJ SURGXFWLRQ RXWSXW 7KH ÀQGLQJV RI $EUDPRYLW] DQG 6RORZ GLVDSSRLQWHG

economists because economists had been brought up to believe that capital accumulation and investment play a critical role in achieving 6(*, $EUDPRYLW] ZDV KRQHVW DQG DGYLVHG economists to look somewhere else from FDSLWDO LQ VHDUFK RI WKH VRXUFH RI 6(*, (FRQRPLVWV UHIXVHG WR KHHG WKH DGYLFH RI $EUDPRYLW] 5DWKHU WKDQ ORRN VRPHZKHUH else from capital in search of the source of 6(*, HFRQRPLVWV KDYH FRQWLQXHG WR FODLP that capital investment is the primary source IRU SURPRWLQJ 6(*, :KDW WKH VLWXDWLRQ PHDQV is that all economists and all institutions SRSXODWHG E\ HFRQRPLVWV LQFOXGLQJ WKH :RUOG Bank and IMF, all over the world do not know the primary source for promoting sustainable HFRQRPLF JURZWK DQG LQGXVWULDOL]DWLRQ 6DGO\ DOO JRYHUQPHQW SURJUDPPHV LQ $IULFDQ nations are developed and implemented by economists and other social scientists and experts like lawyers, administrators DQG VFLHQWLVWV HQJLQHHUV ZKR KDYH EHFRPH HFRQRPLVWV RQ WKH MRE 7KH FRQVHTXHQFH LV WKDW YLUWXDOO\ DOO $IULFDQ QDWLRQV DQG VRPH QDWLRQV LQ $VLD WKURZ PRQH\ DW DOO SUREOHPV DQG KDYH been achieving growth without development *:' IRU GHFDGHV Many socially-conscious economists and students of economics are unhappy about the inability of economics and economists to provide solutions to common societal SUREOHPV 7KH\ KDYH ORQJ EHHQ H[SUHVVLQJ WKLV VDGQHVV LQ WKHLU ZULWLQJV .DOGRU UHÁHFWLQJ RQ WKH DGHTXDF\ RI :HVWHUQ development theories, observed that existing academic texts on general economics and on development were of little or no use from the point of view of understanding development, and would indeed be harmful in the hands RI XQLPDJLQDWLYH SHRSOH KDYLQJ LQÁXHQFH LQ SROLF\ IRUPXODWLRQ LQ ORZ LQFRPH FRXQWULHV 6ROXGR LQ KLV DUWLFOH ´,QYHVWPHQW LQ WKH JURZWK SURFHVV $ PHDVXUH RI WKH HFRQRPLVWV· LJQRUDQFH LQ $IULFD µ DJUHHG WKDW WKHUH LV QR WKHRUHWLFDO RU HPSLULFDO MXVWLÀFDWLRQ IRU DVVXPLQJ D short-run proportional relationship between investment and growth as some economists DQG WKH :RUOG %DQN KDYH GRQH IRU GHFDGHV LQ LQÁXHQFLQJ HFRQRPLF SROLF\ LQ $IULFD 6ROXGR also remarked that when a physician makes a mistake, a patient dies, but when an economist PDNHV D PLVWDNH D QDWLRQ RU JHQHUDWLRQ GLHV :KDW LV LUNVRPH KH FRQWLQXHG LV WKH RIWHQ blatant arrogance with which the economist SRQWLÀFDWHV DERXW KLV H[SHUWLVH DQG IRUPXOD ,Q WKH HQG PLOOLRQV RI OLYHV DUH VDFULÀFHG LQ WKH chessboard in which economists carry out their H[SHULPHQWV 1RZKHUH LV WKLV PRUH WURXEOLQJ WKDQ WKH SHUVLVWLQJ SX]]OH RI $IULFD·V JURZWK tragedy and the economists’ confusion or plain LJQRUDQFH DERXW WKH GLDJQRVLV DQG UHPHG\ More often, the economists’ diagnosis is casual DQG WKH DSSURDFK QDwYH )UHQFK HFRQRPLFV VWXGHQWV LQ \HDU SHWLWLRQHG WKH )UHQFK government that what their professors and WHDFKHUV WHDFK WR WKHP LV DXWLVWLF LPDJLQDU\ they want to be taught economics that is DSSOLFDEOH LQ WKLV ZRUOG 7KH 3RVW $XWLVWLF Movement originated as a consequence of the SHWLWLRQ 7KH WUDQVODWLRQ RI WKH RULJLQDO SHWLWLRQ FDQ EH UHDG LQ WKH ZHEVLWH >ZZZ SDHFRQ QHW@ 2JELPL XVLQJ WKH GHSUHFLDWLRQ concept demonstrated that nations which emphasize capital investments invest in structures – roads, bridges, dams, electricity JHQHUDWLQJ SODQWV HWF ZKLFK DUH 'HSUHFLDWLQJ $VVHWV '$V ,Q SULQFLSOH WKH\ LQYHVW LQ decreasing investment functions, like one WU\LQJ WR ÀOO D SURIXVHO\ OHDNLQJ ZDWHU WDQN ZLWK ZDWHU 7KH\ GR QRW DFKLHYH UDSLG economic growth and industrialization; they VWDJQDWH IRU D ORQJ WLPH 7KLV H[SODLQV WKH $IULFD·V VWDJQDWLRQ RU YHU\ VORZ HFRQRPLF JURZWK Prof Ogbimi, fogbimi@yahoo.com

4 36

T H I S D AY MONDAY APRIL 4, 2022

EDITORIAL

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

WELCOMING 2022 RAMADAN Ramadan oﬀers lessons that will serve the country well

he fasting month which commenced last Saturday is traditionally a season of self-exertion and spiritual reward through physical deprivation, religious communion, and charitable work. It is a joyful season when families and friends get together to celebrate life DQG PXWXDO ERQGV RI DͿHFWLRQ HVSHFLDOO\ ZKHQ they wake up early to eat their pre-dawn meal called Suhoor, and when they break their fast with a meal referred to as Iftar. While we congratulate Nigerian Muslims on this season, we feel obliged to point to some evergreen lessons of this great religious observance. Ramadan fasting is among the most visibly observed Muslim religious practices, alongside WKH ÀYH GDLO\ SUD\HUV and the annual Hajj in Saudi Arabia. It is obligatory for all Muslims of both genders from the age of puberty. Exempted from the fasting season are travellers, pregnant and breastfeeding mothers as well as the elderly and sick, though they are expected to make up the missing days any time after the Holy month. The essence of Ramadan is to expose the faithful to their spiritual roots while teaching them that true humanity does not equate to mere material possessions, passions, or physical cravings. This, we believe, is the real meaning of sharing with, and caring for, the needy and the less privileged that sets Ramadan apart from other religious festivities. The point is that if this spiritual core of man is recognised, it could lead to a positive change in our perspective on life: there would be no room for senseless materialism, greed, and primitive accumulation of wealth. Rather, there would be greater concern for the poor. The Ramadan fast, like the other four pillars of Islam, is aimed at promoting both the spiritual and material well-being of mankind. The

message is simple to discern: When they can UHLQ LQ WKHLU LPSXOVH IRU VHOI JUDWLÀFDWLRQ DQG greedy accumulation of wealth, individuals are more likely to make their society a better place to live in, not only for themselves but also for their neighbours. That is a lesson that will serve us in Nigeria, especially in times like this. Indeed, Ramadan fast is a leveler of sorts, as both the rich and poor are exposed to hunger and thirst at the same time without any exception. Thus, after such self-denial, expectations are that the wealthy should become more sympathetic to the plight of millions of their less fortunate compatriots. Those in positions of authority should make policies and programmes that would alleviate the VXͿHULQJV RI WKH SHRSOH For Muslim folks, Ramadan is also a season of intense prayer, supplication to God and seeking His blessings and protection for family, friends, country, and humanity. The faithful are expected to shun all vices during the holy month and to instead emphasise good deeds, community VHUYLFH DQG EURWKHUO\ DͿHFWLRQ IRU DOO PDQNLQG The lessons of Ramadan should also be carried beyond the season because goodness and prayer are for all times, not just for one month in a year. This year’s Ramadan is coming at a very trying period for our country. The nation faces not only economic challenges but it is also being threatened almost on daily basis by the activities of sundry criminal cartels. Those who plant bombs, kill, maim, rape and kidnap other citizens for worldly gains and to score political and ideological points should refrain from such nefarious activities and respect the sanctity of the holy season. It is also LPSRUWDQW IRU WKRVH ZKR VHHN SROLWLFDO R΀FHV to, in the spirit of the season, aspire only for the public good. Ramadan Kareem to all our Muslim brothers and sisters.

The lessons of Ramadan should be carried beyond the season because goodness and prayer are for all times T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

Letters to the Editor

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

LETTERS WHY MACRON MIGHT LOSE THE FRENCH ELECTIONS ,Q D SVHXGR VSLULWHG ÀUVW VSHHFK RQ WKH FDPSDLJQ )UHQFK 3UHVLdent, Emmanuel Macron posited that he might lose the French elecWLRQV WR WKH IDU ULJKW DQG XUJHG WKH SHRSOH WR ÀJKW IRU )UDQFH 7KH shocking thing is since the pandemic, all nations of the world have passed through the re-emergence of the far right movement. The wave crystallized in Europe with the likes of Geert Wilders Member of the House of Representatives of the Netherlands, who almost defeated the leader of Holland in an election. Also countries like Britain felt the heat with Nigel Farage and his Brexit push. $FURVV WKH SRQG 3UHVLGHQW 7UXPS ZDV JUHDWO\ VXSSRUWHG E\ WKH IDU right movement that hinged their philosophy on rabid nationalism, anti-immigration and division. The proliferation of far right media has also played a role, the likes of GBnews in Britain and CNews in France where Eric Zemmour was an analyst before he became presidential candidate have given oxygen to such ideas. Media is the opium of the mind and once the media steadily pushes an idea it becomes mainstream. The far right media have been created by people that want a Schumpeterian destruction in politics, people like Vincent Bollore of %ROORUH ORJLVWLFV WKDW IXQGV &1HZV LQ )UDQFH 0V /H 3HQ KDV DOVR EHHQ D ELJ EHQHÀFLDU\ RI WKH IDU ULJKW PHGLD SOD\ DV VKH JDLQHG XS WR RI WKH YRWHV OHDGLQJ XS WR ÀUVW URXQG SROOLQJ 6KH LV FORVHO\ IROORZHG

E\ 0U 0HOHFKRQ DW DQG 0U =HPPRXU DW 7KH QH[W ZDYH RI ÀJKW LQ (XURSH ZLOO EH WKDW RI LGHRORJ\ 6RPH IDU rights pundits argue that Europe is going through a re-renaissance period and the French elections will only herald it. A lot of people are ED΁HG E\ WKH UKHWRULF RI 0V /H 3HQ DQG 0RQVLHXU =HPPRXU 7KH\ said it is at variance with the ethics of liberty, egalite et fraternite, but Mr Zemmour argues that France has lost its imperial value and it must be restored. The challenge is Mr.Macron campaign speech was underwhelming and did not preach hope but it projected fear of a probable loss to the far right, apart from the normal economic interventions. I believe Mr 0DFURQ VKRXOG LPSURYH RQ KLV PHVVDJH RI KRSH DQG ÀJKW PRUH RQ WKH FDPSDLJQ WR LQFUHDVH KLV YRWH WR DW OHDVW EHIRUH WKH ÀUVW round. ,Q WKH UXQ XS WR WKH ÀUVW HOHFWLRQV 0U 0DFURQ ZURWH D ERRN ´5HYRlution,” where he enunciated his goals for a brighter and prosperous France. I think it is time for Macron to sell his book on this campaign to the people. If he doesn’t do this he might lose the elections in the second round. Rufai Oseni, rufaioseni@gmail.com

PLANTING AN IDEA There are still a few good stories in the ZRUOG DQG WKLV RQH LV QRW MXVW D SODQW WR ÀOO VSDFH EXW UDWKHU D VSDFH WR ÀOO ZLWK SODQWV A hotel in Kentucky is allowing visitors to bring their houseplants along and share their sunny environment. Generally, hotels are hesitant to even accept pets so this is a new direction in hospitality although they are less likely to leave a mess anywhere or chew the furniture, even the carnivorous plants. It may be an advertising stunt but it’s still a good initiative and the more that can be done to get people to return to travelling and holidaying the better. There is still so much of the world that is good, and this should plant a great idea in everyone’s head. Dennis Fitzgerald, Melbourne, Australia

T H I S D AY ˾ MONDAY, APRIL 4, 2022

HOMES&DESIGN Breaking New Ground with Africa’s Largest US Consulate

MONDAY, APRIL 4, 2022 ˾ T H I S D AY

HOMES&DESIGN

New US Consulate as Eko Atlantic City’s New Adornment The United States is building a new consulate general in Lagos at Eko Atlantic City. The well-designed piece of real estate will be brought to life with $537 million. Bennett Oghifo writes

he new consulate general campus sprouting in Eko Atlantic City off the coast of the Atlantic Ocean in Lagos is an enduring and unwavering commitment to the relationship between the United States and Nigeria. Located on a 12.2-acre site in the rapidly developing Eko Atlantic City, the new US consulate general in Lagos will support diplomatic and commercial relations between the US and Nigeria and provide American and Nigerian consulate employees with a safe, secure, sustainable, and modern workplace. The construction project targets Leadership in Energy and Environmental Design (LEED)

Silver Certification ––a globally recognised designation for achievement in high performance, best-in-class, green buildings –– and incorporates many features designed to make the building more sustainable. Ennead Architects LLP of New York is the design architect, Pernix Federal, LLC of Lombard, Illinois, is the design/ build contractor, and EYP, Inc. of Albany, New York, is the architect of record. The construction project will take approximately five years, with completion expected in 2027. “When completed, it will be the largest US Consulate in the world, demonstrating the importance of the relationship between the

United States and Nigeria,” a statement by the Public Affairs Section of the consulate. “Our vision for this remarkable Consulate campus is to create a facility that both honours the vibrant relationship between the United States and Nigeria and communicates the spirit of American democracy, transparency and openness,” said Ambassador Mary Beth Leonard at the groundbreaking ceremony. According to the US Consul General, Claire Pierangelo, Nigeria and the US have a long-standing history of people-to-people engagement, fostering bridges between the two nations.

“We look forward to the many accomplishments we will continue to achieve together in the future,” added Pierangelo. The new consulate will provide a modern space for the largest consular operation in Africa, including improved public-facing interviews and waiting areas. The $537 million new consulate construction project is expected to benefit the Nigerians directly. An estimated $95 million would be invested in the local economy throughout the project, employing approximately 2,500 Nigerians, including engineers, architects, artisans, construction workers, and administrative staff.

T H I S D AY ˾ MONDAY, APRIL 4, 2022

HOMES&DESIGN

Extend Your Design Approach

ou love your space with your 5 senses but have you ever considered if your space loves you in return? Probably not. But research shows that a well-designed space has a huge positive effect on the happiness, health and wellbeing of its occupiers. It stimulates warmth, comfort, cleanliness and a deep sense of welcome and allows its occupiers perform all their activities seamlessly. So, what makes a well-designed space? One school of thought suggests that it is one that activates the five basic senses: sight, sound, touch, smell, and taste and I tend to agree. But this was not always the case because traditional architectural practice was focused primarily on aesthetics which was based on sight. However, in recent times, architects and designers now include sound, touch, smell, and on rare occasions, taste in the design of spaces. This makes perfect sense because we experience the world around us through our five senses consciously or unconsciously. For instance, immediately we walk into an environment, our brain interprets its comfort and quality based on how it looks, feels, smells, what we hear and probably how it tastes. Apart from interpreting each sense individually, our brain also combines them into a multisensory experience that affects our mood, behaviour and wellbeing. Thus, it is important to consider a multisensory approach when creating or redesigning our environment so that we can “feel that love in return”. This is the underlying principle of sensory design. There are lots of possibilities for designing a space around sensory needs. For instance, you can influence how people feel in a physical space through its physical design. Beyond how people move in the space, physical design can consciously and unconsciously affect mood, energy and behaviour. Therefore, to create a meaningful experience, the mind (perception and cognition) and body (“physical” sensations) needs to be involved deliberately. For instance, the temperature can be adjusted to the desired mood; soft textures can be used to evoke comfort, as can warm colours and aromatic plants can evoke smell (and memory). In addition, intelligent lighting can make the difference between comfort and discomfort. Incorporating elements such as focus, natural light, and colour maps is central to good lighting and can create a multi-sensory experience. Through the sense of smell, we can bring back memories and help users navigate a space in a

non-visual way. For instance, we can use nice smelling plants in rooms to create a good feeling and incorporate open plan kitchens which allow the smell of fresh food to permeate a space. Temperature, humidity, ventilation, and the surfaces of walls, chairs, and floors can all be involved to provide levels of comfort. Malleable materials and interactive elements can improve the user’s relationship with the environment. Concrete is often perceived as a “cold” material, but this feeling can be adjusted by breaking a space up with elements such as plants and contrasting colours. If you walk on the carpet, you will feel if the carpet is soft or flat. Within seconds of sitting, you will know if the chair is comfortable. When you enter the room you will sense whether it is “quiet” or “noisy”. Each of these sensory inputs informs us of our feelings about space and whether we use it for its intended purpose Sound design isn’t just about noise reduction and soundproofing. soft music can provide a

sense of belonging and memory. Adding an auditory element can enhance the resident’s spatial experience. Soft meditation music is relaxing, and happy music is inspiring. Familiar childhood songs can help patients with mid-term Alzheimer’s disease. Therefore, when creating or redesigning spaces, it is necessary to ask ourselves some pertinent questions e.g. Does this enrich the intent and experience of the space? How does it stimulate multiple senses? How will people engage with it? How will this material behave and perform? How will it work with other materials you’ve chosen? How will it interact with natural elements (light, air, sound, temperature) in the space throughout the day? How does it contribute to the physical and emotional experience of the user? Our understanding of the constructed environment and its impact on the nervous system is evolving at a revolutionary pace.

Therefore, understanding the sensory experience is used as a functional tool to influence how people perceive space. Extend your design approach to create space and select materials with human experience in mind. It will not only make your design more beautiful, but also more “rational”.

MONDAY, APRIL 4, 2022 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

Wigwe: How Holding Company Structure Will Benefit Our Stakeholders Group Managing Director/Chief Executive Oﬃcer, Access Bank Plc, Mr. HerbertWigwe, during an interactive session with journalists highlighted the beneﬁts stakeholders of the institution are going to derive from its new holding company structure. Obinna Chima and Eromosele Abiodun present the excerpts: the capabilities of creating institutions that can compete with fintechs and provide additional revenue over and above what they were doing as banks. So, what the Holdco strategy allows us to do is to begin to look at new markets and new opportunities that a traditional bank cannot offer. So for us, we are setting up a lending company. It must create its own customers outside of what exists in Access Bank to compete for market share. So, there would be a lot more financial inclusion, a lot more lending to young people, a lot more ease in terms of opening accounts, among others. The traditional banks are very heavy in terms of cost and expectations, compliance, etc, but what this type of institution does is that it provides the opportunity to support the mass market already, whether it is a pay day loan, you want to fix your car or buy a car. Now our payment company, which is the PayCo, is one that would be supporting our Business-to-Business and Business-to-Customers relationship, customer-merchant acquisitions, etc. It is going to be settling payments across the continent. It is not just about Access Bank, they are also going to create a global access payment gateway to ensure that payments are settled not just within Nigeria, but across the entire continent. What PayCo does for us is that it would enable us have in-roads into businesses where didn’t have capacity. I will give you an example, today if you use your Access Bank mobile phone, you can make payments to anybody and anywhere in the world. So, what we are trying to do is to push and support payments, whether it is by way of trade, diaspora remittances across the entire continent. Our insurance brokerage business is to help us preserve monies that ought to be paid to other firm. And the final one is our pension company. Obviously, because of our size and our platform and the opportunities, we are going to be playing big in the PFA market. All of these things are complementary and the bank is going to build on all of these things to get the full benefits of the HoldCo and the different investments. Obviously, things around agility, taking advantage of the scale of the parent company which is Access Bank are important, managing talents are also very important. If you take technology for instance, most of the talent in that market don’t want to work in traditional banks. So, what we have done is to create a structure where we can take them, train them and create a proper career path for them for the benefit of the entire group.

FROM THE BEGINNING

e got into Access Bank in 2002 and we shared with the market the fact that we wanted to create the world’s most respected bank and that was in our first five years. In 2002, we were a tiny institution and we were 69 in number in terms of the list of banks in the country. We shared on the floor of the stock exchange what we wanted to be. We told ourselves that we wanted to be one of the top 10 banks in Nigeria. We would have believed that when you have the likes of FirstBank, Afribank, Union Bank, Intercontinental, Bank of the North and several of other big banks, that we would be able to survive. There was hardly any space for us. But in that first five years, we move from where we were to becoming one of the top 10 banks in the country. It helped because we had a Prof. Charles Soludo who came in less than two years after we got into the bank and insisted on banks increasing their shareholders’ funds from about $20 million to $250 million. Not many bank could make it. Apart from the top five or seven banks. That single policy led us into the market, we raised capital and acquired some banks and through that whole process, we became one of the top 10 banks in the country. Now, you will ask, how were we able to do that and where did we get the skills from? Right from the first day of getting into Access Bank, we knew that the market was going to change fundamentally. So, we spent a bit of time with HSBC understudying how that firm had grown from becoming a small bank to one of the largest banks in the world, we learnt from them and they taught us what they had done and the things we needed to put in place if we were doing acquisition. So, in our minds, we had all of that before Prof. Soludo came in and demanded that the shareholders’ funds must increase. So, we went into the next planning cycle which was 2007 to 2012 and we said we wanted to be one of the top five banks in the country and by 2012 we had really grown and we had gone to the international market and issued GDR and raised about $1.3 billion at that point in time and that kept us in a very strong position when a very strong wind came in 2008 and 2009. So, by 2009 when we had that crisis in the whole world, Access Bank was one of the strongest banks in the continent. Obviously, some of the top Nigerian banks were affected, such as Oceanic, Intercontinental, Afribank, etc, and they just could not make progress because they didn’t have enough capital to basically do what they needed to do. At that time, we had a new Central Bank Governor, Sanusi Lamido Sanusi, who came in and then decided to do a stress test on all the banks. At the end of that stress test, it was clear that Access Bank was one of the strongest banks. We thereafter acquired Intercontinental Bank and subsequently other acquisitions that we had and by 2012, we had become one of the top four banks in the country.

THE THIRD PLANNING CYCLE

We moved into the third planning cycle, 2012 to 2017, and we told ourselves that we wanted to be one of the top three banks in the country. Now, as you know, when you start to move from the smaller base, it is easier. To move from about 100 to top 10 is easier, than from top 10 to top five and to move from top 10 to top five is easier than moving from to 10 to top three. So, we shared with the market that we wanted to be among the top three. But we started working on it, and this time we were growing organically and in all of this we had started growing outside of Nigeria and the idea was to basically start diversifying our earnings from Nigeria. So, 2017 came and obviously we go to where we wanted to get to and we became one of the top three banks in the country. Of course, presently we are in the last five-year corporate strategy plan which ends in 2022 and we told ourselves that we want to be the leading bank in Nigeria and to be the world’s most respected African banks. And part of what we wanted to

Wigwe

do is to be Africa’s gateway to the world. Obviously, there are a couple of things that are important to us: Firstly, is to ensure that we have a strong and diversified base; secondly is to ensure that several things around how we do business and issues around sustainability remain important to us; and thirdly is to support financial deepening and financial inclusion across the country and fourthly, to start ensuring that the quality of our earnings and the reliability and strength of our balance sheet is solid. So, in the period, we did the acquisition of Diamond Bank and through that acquisition, we strong elements of what we wanted do which had to do with digital banking and making sure that we started lending more to retail. So, as of March 2022, exactly 20 years after we started, we are definitely the number one bank in Nigeria, in terms of balance and customer base.

THE NEED FOR HoldCo

So, there are several things we are beginning to think of as we move into the next phase of our growth. So, having come from 20 years and gotten to where we are presently, we are now on the verge of basically taking the institution to a totally different bank. So, are moving from just being a Nigerian institution, to creating a much-more diversified institution in scale, scope and the nature of things that we do. Access Bank is basically transforming and

we are now creating a holding company and I will give you some of the reasons we are doing what we are doing. First of all, the world is changing and technology has changed how things happen. I recall that about 25 years ago, if you wanted to sell debit cards, it was impossible. But that is gradually becoming extinct because a lot more payments are happening digitally. Secondly, if you look at the demography in the world, what they are asking for is digital payments and they are not waiting for the traditional banking system. That is, for them to be able to do several things through the touch of the button. So, the world is changing and if you as an institution is not part of that change, you may wake up one day and find out that you don’t have an institution. We are all used to when we used to have VCRs where people play video games and you rent films from mega plazas during the weekends, just to watch movie. The world has gone away from that and today, you can just go online to do whatever you want to do. Now, banking is changing and it is evolving rapidly. Technology has made it such that you can serve customers, even from the most remote village. So, there is a big change happening at a faster pace than we can imagine in the banking sector. If you look at the way banks are valued, they are always valued from the traditional banking mindset, meanwhile they have

THE ACCESS BANK GROUP

The Access Bank group would continue to grow across the continent and outside of Africa and the whole idea is to be the world’s most respected African bank. My sense is that by 2027, you would see it getting close to being one of the top five banks in the continent. You will also see us regionalising. We would have a regional office in Ghana that is responsible for West Africa; an office in Nairobi that would be responsible for East Africa; an office in Botswana that would be responsible for Southern Africa and South Africa is big enough to have its own regional office. Consumer lending, retail, MSMEs, all of those things required to support the growth of the economy, we would focus on them. Customer experience is important and as we grow we would ensure that we are providing same level or better services in terms of turnaround and customer experience across the entire continent. As long as technology is concerned, we are creating strong and reliable technology to ensure that customers’ expectations are met. Of course, risk and capital management are critical to our business and we would continue to use the most sophisticated tools that can stand the best of time. Culture is important and I guess one of the things you would keep asking us as we grow is how do you ensure that we maintain culture as we grow, particularly inorganically. But despite the fact that we are growing inorganically, we are ensuring that we entrench all the things required to build culture. Culture takes time to build, but we

T H I S D AY ˾ MONDAY, APRIL 4, 2022

BUSINESS SPECIAL

INTERVIEW

Wigwe: Banking is Evolving Rapidly are trying to make sure as much as possible that the Access culture is entrenched.

STRATEGY TO BECOMING NUMBER FIVE IN AFRICA

The same question was asked in 2002. We would be measured through the bank’s scorecard metrics, you would look at our risk ratings, our profitability and our overall balance sheet size. There has never been a time that we shared with our stakeholders and the market what our vision are in the past 20 years and we never achieved it.

WILL THE SUBSIDIARIES REQUIRE FRESH LICENCES

Some are going to go outside the country. The payment company by definition is going to go outside the country and where we have presence. Would they require separate licences, in some, yes, and in others, no. So, it depends on the specific subsidiary. Remember that it is not just about Access Bank; if you are looking at Access Bank, the market would be valuing it as an institution that is dealing with same customers. But, what we are seeking is the additional businesses outside of Access Bank. So, all of these subsidiaries would be fighting for market share outside. I think that the next three to five years, the picture would be so fundamentally different from the last 20 years. And that is because we do have strong staff to drive the process.

ACCESS BANK STOCK MARKET VALUATION

I will continue to focus on the fundamentals and how to grow our business and then let the play out itself. Hopefully, it will over time choose where the price will be. It will correct itself. But I will tell you some of the things that scare investors. When an investor sees that you are expanding within the continent, he gets worried. Once you are doing that, it will affect your market capitalisation. But it doesn’t matter; the most important thing is: What are your long-term aspirations and are you keeping through to it? Look at us 10 years ago, in terms of the contributions of our foreign subsidiaries to the overall, today it is 30 per cent. So, one day, same investors who were

Wigwe

putting that question mark would realise they are making mistakes. Now, it gets more interesting when your off-shore subsidiaries have better risk ratings. My sense is that all of these would change over the next year or so and investors would begin to ask themselves why they didn’t invest earlier. So, we would continue to speak to our core stakeholders and share with them this vision of the picture of tomorrow, hoping

that as the news continues to filter into the market, people would see the need to invest in the company.

LISTING OF THE HOLDCO ON NGX

Now that you are moving a lot more out of Africa, are you considering listing on other jurisdictions and what would be the key focus of your expansion, do you

want to be a pan-African bank? First of all, the Banking Act establishes that you choose to become a HoldCo or a narrow banking licence. So, under Sanusi, we listed Access Bank, which is just the bank. Now, when we finished our five-year corporate strategy, we told ourselves that we wanted to create a different kind of institution, that would be a global company. Therefore, the narrow licence would no longer be sufficient. So, we decided to go for a HoldCo. Now, through a scheme of arrangement, the existing shareholders of Access Bank migrated to the HoldCo. Now, we had to delete the traditional bank from the main bourse and put the HoldCo, where Access Holdings is the main shareholder. Are we creating a pan-African bank? The answer is no; we are creating a global institution. Now, one of the key things we are going to be focusing on in the continent is trade. Trade has been one of our strongest strengths and it is something we have pursued, even before the Africa Continental Free Trade Area (AfCFTA) agreement came into place. We told ourselves that we want to be Africa’s gateway to the world. What that does is that it means that you will support intra-African trade; there is diaspora remittances and the third has to do with payments. So, those are things that we are doing and we are doing better than the rest. In the areas which we have not consolidated, through our payment company structure, we would literally build that in-road seamlessly across the continent. As Africa, we must support and develop our continent ourselves. So, supporting local businesses is important, ensuring greater financial deepening is also important and if we grow our continent to be strong, then institutions within the continent would be stronger. However, you need to manage risks as you do this. So, in some markets that are large in terms of trade, we would basically do more to support businesses. All of these things stand on a tripod: Strong capital – both financial and human capital; strong risk management and strong governance and the governance framework has to run through everything that we do.

Second Niger Bridge: Buhari’s Iconic Gift To South-East Region Ifeanyi Onuba

hen President Muhammadu Buhari on October 8, 2020 made a promise to Nigerians that his administration would complete and commission the Second Niger Bridge before the end of his tenure in 2023, not many people took his promise seriously. And the reason why many people took the promise made by the President with a pinch of salt is not far-fetched. Let’s delve a little into history. The Second Niger Bridge was first proposed during the 1968/69 political campaign by the National Party of Nigeria. In 1987, after warning about the state of the existing River Niger Bridge by the then Minister for Works and Housing Abubakar Umar, General Ibrahim Babangida challenged the local engineers to design the Second Niger Bridge. The local engineers rose to the challenge and through the Nigerian Society of Engineers subsequently delivered a masterplan. Unfortunately, the turmoil that precipitated the end of Babangida’s administration in 1993 stalled the plan. Under the subsequent military governments, the project received little attention. Upon the return to civilian rule on May 29, 1999, President Olusegun Obasanjo promised to deliver a second Niger River bridge. However, Obasanjo’s administration did not carry out any major activity on the project until five days before he handed over in 2007 to the administration of Umaru Musa Yar’ Adua. That was when he flagged off the project in Asaba in Delta State. The handing over of the project by Obasanjo to Yar’ Adua made his administration to effectively inherit a 58.6bn proposed cost for a six lane, 1.8 km tolled bridge, which was to be completed in three-and-half years. Based on the funding structure then, the bridge was to be financed under a public private partnership (PPP) with 60 per cent of

the funding coming from the contractor, Gitto Group; 20 per cent from the federal government and 10 per cent from the Anambra and Delta State Governments. Unfortunately, the subsequent death of Yar’ Adua on May 5, 2010 marred the progress of the project. However, in August 2012, the Federal Executive Council under the administration of Goodluck Jonathan, approved a contract worth 325m for the final planning and design of the bridge. Before then, during the 2011 general election in Nigeria, Jonathan had while campaigning for office of the President promised that if elected, he would deliver the project before the end of his term in 2015. At an Onitsha town hall meeting on August 30, 2012, Jonathan had sworn to go into exile if he did not deliver on the project by 2015. The act of rigmarole where the Second Niger bridge was used as a major political pawn continued until Buhari first cancelled the earlier contract in August 2015. The project was subsequently awarded to Julius Berger for a contract sum of N206bn, to be implemented by the Nigerian Sovereign Investment Authority with funding from the Presidential Infrastructure Development Fund. The second Niger bridge is one of the three projects being funded from the Presidential Infrastructure Development Fund. The other two projects are the Abuja-Kaduna-Kano Road project and the Lagos-Ibadan express road project. The PIDF is a special fund set up by President Muhammadu Buhari and managed by the NSIA. The NSIA brought some of its own capital, the capital provided by the federal government and the fund return to Nigeria as Abacha loot. One of the objectives of the bridge is to minimize traffic congestion on the old Niger bridge and to strengthen connectivity in the entire South-East region. Under the new arrangement, the scope of work

was expanded to involve the construction of a 1.6km bridge over the River Niger, scheduled for completion in August 2022, construction of two secondary bridges at CH25+166 (Amakom Village Road) and CH28+304 (Atani Road) spanning 21.7m each, which have now been completed, demolition of existing flyover and construction of new interchange at CH34+100 (Onitsha-Owerri Road), scheduled for completion in August 2022. The project also involves the construction of 3.3km Approach road on the Asaba side and 7.0km approach road on the Onitsha side of the main bridge, scheduled for completion in October 2022, toll plaza at CH25+700 which consists of eight lanes in each direction, scheduled for completion in October 2022, and site clearing of the Right of Way (RoW) including the removal of all bush, trees and shrubs. The construction work for the project also involves soil improvement including soil exchange, geo-textile as a filter layer, geo-textile for base reinforcement, prefabricated vertical drains, geo-textile encased sand columns and geo-textile for base reinforcement. Upon completion, the project will offer significant socio-economic benefits for the contiguous states and indeed the entire nation by easing traffic flow, improving road safety, and creating greater opportunities for residents and neighboring states, thereby regenerating economic life. The Approach Roads will drive traffic to the bridge via two 17.5km Approach roads on either side of the bridge and enhance the project’s viability. To demonstrate the commitment of the federal government to the timely delivery of the project before the end of this year, the project has within the last one month, experienced two major inspections from two high-powered delegations of government. The first visit to the project site within the last one month was by President

Muhammadu Buhari who was represented by his Chief of Staff, Prof Ibrahim Gambari. He was accompanied on the inspection by the Minister of Works, Babatunde Fashola; Minister of Labour and Employment, Dr Chris Ngige; the Managing Director of the Nigerian Sovereign Investment Authority, Uche Orji; and other top officials of government. During that visit, Fashola had stated that contrary to what people claimed two years ago that there was no bridge, the fast pace of work on the site against all odds had shown otherwise. “What I said was the bridge link will be completed around February or at the latest the end of the first quarter. “We are now heading towards the end of the first quarter and as you have heard from them, they will complete the east bound link on the 15th of March and the west bound link on the 2nd of April,” he had said. True to Fashola’s prediction, the linking of the Second Niger bridge was done on April 2 in the presence of the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed; the Chairman, Board of Directors of the NSIA, Mr Farouk Gumel, the NSIA Managing Director, Uche Orji; and the Deputy Governor of Anambra State Gilbert Ibezim during a tour of the project site. Ahmed, who was visibly excited when she saw the architectural masterpiece of the bridge commended the NSIA and Julius Berger on the pace, and quality of job so far done on the project. The bridge has been linked, all engineering works completed and the only thing that is left for the project is just the finishing. The Minister said, “Today is a very significant day in the construction cycle of the second Niger bridge. This is one of the most iconic projects in the country costed at an initial contract cost of N206bn.

MONDAY APRIL 4, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY APRIL 4, 2022

CITYSTRINGS

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

Okpoko Slums: Soludo’s Challenge for a Liveable Anambra For Prof. Chukwuma Soludo, one of his major deliverables is the plan to make Anambra a liveable city. David-Chyddy Eleke, who visited Okpoko, a sprawling slum near Onitsha, writes that the governor's recent move to urbanise it will be a test of the state's liveability

A school in Okpoko

n 2020, this reporter was on a visit to Okpoko from Awka, the state capital with some colleagues, to cover a political event. After a smooth ride past Onitsha, under the Niger Bridge and headed to Ogbaru, the journalists stopped and ask for direction. A middle aged man who was beckoned upon gave the direction to the venue and added – “Please do not ask anyone else as you drive into Okpoko. After a short distance and a few turns on the dusty road which was littered with dirt, including water sachets, and plastic bottles, the direction seemed confusing, so the journalists decided to seek direction from another passerby. “Okay, just drive straight and turn left into the busy market, and go straight up and you will see the Anglican church,” he said. He paused and added – “are you people new here? Just go straight, don’t ask anyone again.” A third person, a woman who also helped the journalists with direction sounded same warning, raising the curiosity of the journalists. The answer to this was later found. After parking at an empty space close to the venue, some urchins besieged the journalists, insisting on collecting what they called 'ground fee' for parking the vehicle. This is just a mild taste of what Okpoko is made of. Okpoko, sprawling slum which has a population of over a million, is notorious for street urchins, who can also be very dangerous, depending on how one treats them, just as poverty is rife in the area. Roads, portable water, liveable homes are all lacking in the slum. Families, consisting parents and children, live in one room makeshift houses, usually made with either wood and tarpaulin, or wood and corrugated roofing sheets. Those who are lucky to live in brick houses, live in very dilapidated ones, while toilets attached to them are far away from the compound, and more often than not, they are meant for children, while adults only have the privilege of going to toilet only very early in the morning before daybreak or at night in drainages and canals. Besides the living condition of the people of the area, and the high number of urchins in the area, Okpoko is also notorious for fake products known to be in high demand in the market. Many times over, regulatory authorities including National Agency for Food, Drug and Administration and Control (NAFDAC) have arrested syndicates who produce juice, soft drinks and some brands of wines. The products are mostly not only fake but usually concocted in very unhygienic environment not fit for living, let alone producing edibles. It is this kind of story of pitiable living that Soludo hopes to change. The former Central Bank Governor and incumbent governor of the state had said he will start work at Okpoko, on 17th March, immediately after swearing in, by putting in eight hours in the slum to work towards its change. He has since started walking the talk. Speaking on the plan to change Anambra into a liveable city, with Okpoko to take the lead, Mr Joe Anatune, Head of Media of Soludo's Media Office said: "On March 17, 2022, Ndi Anambra will embark on a tough but hugely fascinating and rewarding journey to a Liveable and Prosperous Smart Megacity as envisioned by Cee Cee Soludo who the people overwhelmingly elected

Typical living quarters in Okpoko as governor on November 6, 2021. "We alluringly christened the process of attaining this journey as The Great Transformation. The final outcome is that, firstly, Anambra will become irresistibly appealing to the world as the choice place to live, do business and relax. Furthermore, the 179 or so communities that make up Anambra State will be digitally connected to the ambitious sustainable development agenda of the incoming government. "Okpoko, a sprawling slum near Onitsha in Ogbaru Local Government Area will be the starting touch point of The Great Transformation with the planned facility visit of Soludo to the slum to launch its upgrading programme. Onitsha, which sadly wears the toga of the headquarters of air pollution in the world, will in quick succession receive the attention of the governor. "The new government, like any other government, will face the challenges of ensuring that the people are safe, healthy, gainfully employed, have access to clean water, breathe clean air, get access to functional and quality education and more. Taking into account the local context and global trends, Soludo figures that the use of data and technology will be a more efficient and effective means of addressing the development imperatives of the state and improving the quality of life of the citizens. "This model offers better use of space, less traffic, cleaner air, and more efficient civic services, all of which help improve the quality of life. Also, using smart solutions enhances more career and economic opportunities as well as stronger links with community. So, when next you hear Soludo say that in the fully transformed Anambra, children born in the state may not have need to seek greener pastures elsewhere and those in the Diaspora will have all the incentives to return home, you would do well to take that assurance to the bank." During an investigative visit to Okpoko recently before Soludo took over office, THISDAY reporter took discreet pictures of the slum, and also had a deeper look in most streets of the slum, showing that there is even bigger work to be done than

the governor may have envisaged. Even with smelly drainages running right Infront of most of the shanties which serve as homes, residents were seen sitting comfortably in front of their residences in conversations, giving the impression that despite the pity which the people feel for their living condition, they see nothing absolutely wrong with the area as the women among them laughed heartily to jokes among themselves. The above fears were corroborated by some residents who spoke to our correspondent, leaving the fear that as Soludo gears up to begin work in Okpoko, depending on the approach he adopts, the people fear that they may be displaced. Nkoli Eze, a hair stylist and resident of Okpoko said: "We are happy that Soludo promised to start work in our area, but we are not sure the strategy he will use. We need to know what strategy he wants to use to develop Okpoko, before we can begin to applaud him. I'm saying this because I'm from Imo State, and I know that some people in that state are yet to recover from the destruction of their residences by former governor, Rochas Okorocha. "We know how the governor (Soludo) feels, but it should not be something he will come and demolish our houses and keep us homeless, and we will now begin to hang around waiting for them to rebuild it, and before you know it, they will abandon it. We don't want that type, instead let him leave us the way we are." Another resident, Mr Sylvester Obi said: "Don't mind that you're seeing this place almost empty, this is where most of the people who do their business inside Onitsha live. If you come here in the evening when people are back from market, you will agree with me. This place you see is very highly populated, so, if Soludo can achieve development in Ogbaru, he may have done half of the job required to please the entire Onitsha city. "But we are begging him, as much as we need good schools, good roads, electricity and other amenities, we will not like a situation where they will come and demolish the place and leave us with nothing. I have lived in Ekwulobia before, some of us know what is good, but we decide to stay here because the economy of Nigeria has made it difficult for us to afford a better place. We will like to have amenities here, but most importantly, let the economy thrive, because even if he builds the best houses here, and business is not good for us to make money and live here, then it will still be difficult for us." The governor may have also foreseen that the work in Okpoko is not going to be easy. Speaking with members of his transition committee before the swearing in, Soludo declared that he had decided to extend his work schedule in Okpoko to two days. "You know we have declared March

"Taking into account the local context and global trends, Soludo figures that the use of data and technology will be a more efficient and effective means of addressing the development imperatives of the state and improving the quality of life of the citizens"

18 as Okpoko day two." Reiterating his resolve to give the state his best, he said he will be needing all the resources available to government to be able to meet the needs of the people. The test of the liveability of Soludo's Anambra may also be in the level of security of lives and property in the state and also the buoyancy of the economy. The professor of econometrics does not seem to have overlooked this as sources said despite not saying anything about security in the transition committee, he decided to work silently on that. His media aide, Mr Joe Anatune also re-echoed this in a recent press release. He said: "Cee Cee Soludo’s commitment to improving the quality of life and lifting many from the vicious grip of poverty is the elixir that APGA needs to continually win the battle for the minds and hearts of voters in Nigeria and to emerge as a major challenger in the power dynamics. "In other words, astute management of the political economy is the key. The incoming government is poised to deliver on its promises. The new administration understands that the only way to get repeat or merit votes is to keep delighting the electorate. “Families are struggling to put food on the table, pay house rents, pay school fees, settle medical bills, take care of aged ones and more. There is inadequate power for homes, offices and factories, insufficient housing, and weak transportation infrastructure. Climate change is real and we will be living in denial if we do not acknowledge its negative impact on our lives. This trust must not be taken for granted and the only way to sustain it is through superior achievements that address the concerns earlier listed." Recently, the governor began walking the talk in line with the administration's urban renewal effort in Okpoko, Ogbaru Council Area, its environs and the state in general. An enforcement team led by the state Physical Planning Board has already started marking of structures for removal in Okpoko. The enforcement team was led by the Executive Chairman of the Board, Barrister Chike Maduekwe. Armed with the Master Plan of Okpoko, the team sited the area from the Second Niger Bridge. In the process, it was established that over 200 structures are blocking the road, drainage and water way, thereby preventing successful emptying of flood water into the Niger River. Barrister Maduekwe explained that the major challenge in the area is that many people blocked the waterway especially the Sakamori drainage, saying that when it rains, it stops water from emptying into the Niger River, causing flooding with its attendant damages He revealed that the governor has given instruction to mark every house on the waterway and give them notice to remove by themselves, stating that if they don't remove those structures, government will do so and charge them for the expenses. The Chief Surveyor, Anambra State Physical Planning Board, Somto Atuenyi who pointed out that his mission is to be a guide, said the board remains focused and committed to the mandate.

T H I S D AY ˾ MONDAY APRIL 4, 2022

CRIME

Pastor Arraigned for Alleged Murder of Two Women in Abia State

The deceased

The suspect

Rebecca Ejifoma

a week and that was when her mother, Mrs. Clementina Nwoke, a member of Chigozirim’s church, was informed on August 20, 2021 that she had not been seen in Owerri, Imo State, where she lived. She said: "I started looking for her through the DSS in Umuahia and Owerri. I later got a message from my daughter’s phone that I should pay N1.5m. "The DSS urged me to offer the suspect N50,000 but I proposed N100,000. Using my daughter’s phone, Chigozirim called me to come to Mbgoko Amiri in Obingwa LGA. “On reaching there, a voice directed me to where to place the money. Though I was not seeing the person, I dropped the money at the foot of the pole as I was directed. "When I enquired about my daughter, he said after dropping the money that I would see my daughter at Umuikea Junction. This was on September 7, 2021. "When I got to Umuikea Junction, I did not see my daughter. Towards the end of September, the DSS asked me to show them the picture of Chioma and later invited me to Umuahia, where I met two of my pastors, and all of us went to our apostle at the World Bank Estate, Umuahia.” She further narrated that some of the church leaders eventually told her that her daughter's decomposed body was discovered at Mbano in Imo State where she was strangled with a head tie and left upside down at the foot of a tree. Chioma’s phone and ATM card were found in the suspect's residence, following his arrest over the death of Virginia and that point, he had withdrawn a lot of money. During the hearing before the presiding judge, Uchechi Enwereji, the case has been adjourned to May 24 this year for further hearing.

High Court sitting in Umuahia, Abia State, has arraigned an Apostolic Church pastor, Mr. Salem Chigozirim, for allegedly strangling to death 45-year-old Mrs. Virginia Ndife, and his church member's daughter, Chioma Nwoke. Chigozirim, who was said to have strangled Virginia last September, was charged to court for murder and also demanding ransom afterwards. According to the husband of the deceased, Mr. Christian Ndife, his wife had gone to their new house on 67 Agulu Street, Umuahia, to do some work with the pastor, who is also a plumber. But what should have been a plumbing job turned into murder to the dismay of the Ndife family. The widower, who said he was at their family house when his daughter told him of his wife's sudden death, said: “I rushed to the house only to see the body of my wife. I reported to the police and the DSS. After two weeks, the DSS captured the suspect. "She was strangled with a blue bathing sponge, which he saw around her neck. The entire room was scattered." After his arrest, the suspect said he was looking for some documents and when he called the deceased, she told him to do his worst. Earlier, he had sent the same message to Ndife's brother-in-law, Anthony Okeke, that he was looking for his commercial motorcycle documents. Meanwhile, it was after he was nabbed for Virginia's death that DSS interrogation revealed that Chigozirim admitted to killing Chioma last August before Virginia's elimination in September. In Chioma's case, she had disappeared for

Police Arrest Man Who Set Wife, Brother in-law Ablaze in Lagos

business man, Benjamin Ogudoro, has been arrested for allegedly setting his wife, Chinyere and his brother in-law, Ifeanyin Edoziem, on fire at their apartment in Oteyi community, in Amuwo Odofin Local Government Area of Lagos. The incident which occured at the early hours of last Friday, left 46 years old Chinyere , who just returned from Scotland same day, dead, on the spot while her brother died moments after reaching the hospital. Late Chinyere was said to have relocated to Scotland four years ago, returned to Nigeria same day tragedy struck, when she got wind of her husband's plan to sell the house she built. After allegedly setting the duo on fire, the suspect placed a call to one of her sisters alerting her that their house was on fire but that he managed to escape while his wife and her brother were trapped. But Ifeanyi's dying declaration revealed what transpired. Shortly before he passed on, he managed to explain that " I went to pick my sister from the Murtala Mohammed International Airport when she returned . We were sleeping when her husband came in late, banging on the door. "We had a little misunderstanding as he accused me of locking him outside. I told

him I didn't bolt the door, that I only used the key lock and that besides, he could have opened it since he had his keys with him. " He kept shouting that I locked him out. He insulted me and my sister. But we kept quiet. He left the room, only to return when we had fallen asleep. He poured petrol on us, lit a match and went out. "We were burning. I managed to escape but couldn't save my sister. I was fortunate enough to survive". Unfortunately, he could not withstand the degree of burns and died afterwards. The charred remains of Chinyerewere evacuated by a team of policemen from Trade Fair division, who were alerted by private guards from Oteyi community. Police sources hinted that fleeing Ogudoro had been arrested. The Lagos State Police Public Relations Officer, SP Benjamin Hundeyin confirmed the arrest, adding that the suspect has been transfered to the State Criminal Investigations Department (SCID), Yaba , on the directive of the Commissioner of Police, CP Abiodun Alabi, for further investigation. He said the corpses had been deposited at the Mainland Hospital mortuary, Yaba, for autopsy.

CRIME SITUATION REPORTS

BANDITRY, IMPLICATIONS ON THE SOCIETAL ECONOMY AND PREVENTION STRATEGIES (3) Gbolahan Samuel Moronfolu Banditry’s Impacts on Women and Children In spite of the scale of violent attacks by bandits, the significant toll of the impact on women and children is yet to receive sufficient attention in policy responses. This is despite escalating attacks often targeting vulnerable communities, women and children being the worse heat, thereby endangering the latter’s right to education. For instance, more than 61 children are still in captivity months after a mass abduction for ransom by bandits of more than 780 children in 2021, while many schools were shutdown indefinitely, according to a recent report. The United Nations Children’s Fund (UNICEF) says at least one million children will likely stay away from school because of the threat of violence, following the targeting of pupils in 2021 alone. This trajectory portends serious implication for Nigeria – a country blighted by endemic poverty in the northwest and reputed to house the highest number of out-of-school children in sub-Saharan Africa. Amid these attacks, women and the girl child bear the most significant burden of banditry in the region. Sexual violence has skyrocketed with women and girls being frequently raped, kidnapped or commodified by families who are forced to exchange their daughters for protection. For instance, at least 30 women and girls were raped indiscriminately across five communities in Shiroro Local Government Area of Niger State. A similar act was carried out in Tsafe Local Government Area of Zamfara State in response to communities refusing to pay a N3 million levy (approximately US$5,000). Additionally, the humanitarian toll of banditry extends to livelihoods relied on by women, with markets and farms often raided. Victim highlight the effect of rape and hunger in the midst of rising insecurity and the desperate need of food, protection, shelter and clothes. Access to water has also become increasingly difficult in congested camps for displaced persons. In the unfolding events, bandits are also co-opting women for their criminal activities. In November 2021, the Nigeria Police Force arrested a woman for supplying 991 rounds of AK-47 live ammunition and drugs to bandits in Zamfara. This isolated arrest suggests the copying of operational methodologies, which has long been perfected by Boko Haram in the northeast. In Nigeria, the 1999 Constitution proclaims the sovereignty of the people who provides for themselves the guarantees against wanton use of violence so as to promote “good government and welfare of all citizens on the principles of Freedom, Equality, and Justice, and for the purpose of consolidating the unity of our people”. These guarantees are primarily in the fundamental human rights and other constraints to exercise of power in Chapters 2 and 4 of the 1999 Constitution. As the Supreme Court makes clear early in Ransome Kuti v. AG Federation (1985) NWLR Pt. 6 page 211, these rights are fundamental because they predate the formation of the Nigerian state and cannot be derogated in the pursuit of public policy. The constitution, therefore, prohibits the use of violence by state and non-state actors to take the life of any citizen (Section 33), destroy or forcefully take over a citizen’s property (section 43) and invade a person’s home or premises (section 37). Some of these guarantees can only be derogated under due process. This means that only the representatives of the people can reduce their protection for the public good. These protections and guarantees abolish the use of private violence and limit the exercise of public violence. Where these guarantees do not exist or they exist but are unenforceable because of the reality of management of violence, the state has exited the rule of law state and entered a state of lawlessness. This is worse than a state of nature because under a state of nature, as Hobbes observes, there is equality of vio-

lence. But under a lawless state, there is an asymmetry of violence to the advantage of the criminals. Why is Nigeria Trapped in Lawlessness? The major cause of rampant criminality is the collapse of livelihood support systems across the country. Poverty is deep and widespread in Nigeria. The latest Nigeria Bureau of Statistics (NBS) survey reports that about 40% of Nigerians are extremely poor. This is not counting Borno State, where terrorist activities have destroyed all prospects of human development and cannot be accessed for the wellbeing surveys. According to the World Bank estimation, by the end of 2022, more than 100 million Nigerian will live in extreme poverty. Incomebased poverty assessment does not do justice to the state of deprivation in Nigeria. Apart from income poverty, Nigeria has the least social protection scheme in West Africa. Furthermore, the poor physical and social infrastructure in Nigeria means that life would be more nasty and brutish compared to income figure reveal. The activities of Nigeria's infamous "yahoo boys" have created a bad image for the country as information coming from Nigeria is frequently regarded as a scam. This means that mails from Nigeria's financial institutions may not get full attention, and may likely be considered a scam because of how people outside the country see Nigerians as criminals. Nigerians may soon be undergoing serious scrutiny when establishing a business in another country, more serious than what it is experiencing now if at all they are not met with total denial (Falode, 2018). Youths today see the internet as a forum for committing illegal activities. Cybercrime such as pornography, online prostitution, online gambling among others have devalued the norms of the society and morality at stake. Youths have become lazy and addicted to the use of the internet (Shehu, 2019). If care is not taken, the addiction to the use of the internet by our youths and the obvious moral decadence that has made some kind of security threats to flourish will continue to affect Nigeria’s socio-economic development. Nigeria’s economy is still grappling with the effect of COVID–19. The pandemic’s containment measures continue to affect aviation, tourism, hospitality, manufacturing, and trade. Contraction in these sectors offset demand-driven expansion in financial and information and communications technology sectors. The public fiscal deficit, financed mostly by domestic and foreign borrowings, widened with high debt service payments, estimated at more than half of federally collected revenues; pose a major fiscal risk to Nigeria’s economy. Recent economic decisions have continued to exert more pressure on domestic prices and inflation which stands at 17.75% in 2021. Our major downside risk includes reduced fiscal space, should oil prices remain depressed. In addition, flooding and rising insecurity has hampered agricultural production. Further depletion in foreign reserves has also led to sharp exchange rate depreciation and inflationary pressures. A potential relapse in COVID–19 cases could exacerbate these risks. High unemployment, poverty and growing inequality remain some of the major challenges in Nigeria. Our system is not purposefully governed to foster an economy with relevant social, economic, and physical infrastructure for business operations and industrial growth, to provide gainful employment, functional and useful education, and quality health care for the people. Governments must ensure that rising poverty indices are reversed to ensure that Nigerians meet their basic needs. -Moronfolu is a seasoned security consultant with many years of security and policing experience. FELLOW, Fourth Estate Professional Society (FFPS), he has also partaken in peace keeping operations within and outside the country and has flair for general security education.

T H I S D AY ˾ ˜ APRIL 4, 2022

BUSINESS/MONEYGUIDE

NGX Fixed Income Market Cap Hits N21.43trn amidst Uncertainty Kayode Tokede Despite uncertainty in the global economy coupled with the weak macroeconomic challenges in Nigeria, the market capitalisation of the Nigerian Exchange Limited (NGX) Fixed Income rose to N21.43 trillion at the close of transactions in March 2022. Analysts had expressed worry that the uncertainty in the global economy would have a negative impact on the capital market. However, data obtained from the NGX’s Products/Asset Class performance showed that fixed income market capitalization sector which closed the month of February 2022 at N21.099 trillion, increased by N328.08 billion or 1.55 per cent to close at N21.427 trillion. Also, Exchange Traded Funds (ETFs) market capitalization was up from N21.106

trillion in February to N21.434 trillion, representing an increase of N327.87 billion. Premium Board capitalization appreciated by 0.73 per cent and closed at N11.703 trillion from N11.619 trillion in February representing an increase of N84.433 billion while ICT grew from N4.759 trillion in February by N1.374 billion to N4.761 trillion. Similarly, the Oil and Gas sector index was up 3.79 per cent, the best performing index compared to other sectors while the NGX Lotus Islamic Index rose by 1.46 per cent; NGX Premium Index up by 1.73 per cent and NGX Meri Growth Index up by 1.44 per cent. Speaking on the market performance, Chief Operating Officer of InvestData Consulting Limited, Ambrose Omordion, said the stock market sustained positive

sentiment and uptrend due to the influx of corporate actions and 2021 audited financials, as players reacted to the released numbers and dividend declared for year-end 2021 earnings. Omordion said that was expected to support an uptrend during the earnings season, amid the oscillating oil prices, just as the market continues to interpret economic data in relationship with crude oil price and other factors, in the midst of profittaking and portfolio rebalancing. Commenting on the market performance in March, the Managing Director, ARM Securities Limited, Mr. Rotimi Olubi said the stock market had sentiment trading majorly driven by profittaking activities from investors that had positioned themselves ahead of earnings releases and dividend declaration.

From left to right: President, Fund Managers Association of Nigeria (FMAN), Mrs Tope Omojokun presenting the cheque of N200,000 to Ms. Omoshalewa Ogundiran, winner of a Quiz Competition organised by FMAN to commemorate this year 2022 Global Money Week at Yaba College of Technology in Lagos...recently

FMAN Sensitizes YABATECH Students on Investment Kayode Tokede As part of the events to commemorate this 2022 Global Money Week, the Fund Managers Association of Nigeria (FMAN) sensitized the full-time final year (HND 2) students of the School of Management and Business Studies (SMBS), comprising five departments which are Accountancy, Business Administration, Banking and Finance, The event was themed, “Being smart about money, as a panacea to building a brighter future.” The event which took place in the lecture hall of SMBS had in attendance theleadership of FMAN represented by the

President, Mrs. Tope Omojokun, and the Chairman of the Technical Enlightenment Committee (TEC), Mr. Lanre Mohammed. Commenting on the event, the President of FMAN, Mrs. Tope Omojokun urged the studentsto imbibe the habits of investing and diversifying their portfolios and risks. She urged them to do diligent research before investing and stay clear from Ponzi and other illegal money doubling schemes. She also thanked all the attendants, especially the students, and urged them to practice all they learnt during the interactive lecture. She ended by congratulating the prize winners.

Ms. Omoshalewa Ogunbiyi, an HND 2 student of Accountancy, emerged as the overall winner of the quiz, carting home a total of N200,000. The elated student thanked FMAN for the initiative and promised to invest part of her prize money in her small business. The first, second, and third runners-up of the highly contested quiz were awarded N150,000, N100,000, and N50,000 respectively while the fourth contestant wascompensated with a cash prize of N25,000. Currently in its tenth year, this year’s Global Money Week was held from March 21 to27, with the theme: ‘‘Build your future, be smart about money.

APM Terminals Apapa Unveils New Digitalised Office Building as Part of $438m Investment Nigeria’s largest container terminal, APM Terminals Apapa has commissioned a new digitalised administrative building as part of its $438 million investment at the Lagos Port Complex Apapa. The commissioning of the new smart building, which took place at the terminal in Apapa on Tuesday, is in line with APM Terminals’ commitment of introducing new innovations to help both shipping lines and landside customers achieve improved supply chain efficiency and flexibility in a cost-effective manner. Speaking at the event, the

Global Chief Operating Officer (COO) of APM Terminals, Keith Svendsen, who was in Nigeria for the commissioning, said the new building will set new standard for port operation in Nigeria. He said, “What is more important is to make sure that we are ready for the future. A port is one of the infrastructures that take years to plan and build. This is why we are working to make it better and get ready for the future,” Svendsen said. The APM Terminals COO

said the technology embedded in the new building will improve container handling operations and processing in the terminal particularly in enabling electronic invoicing, electronic receipt and online payment processes that allow customers fast-track their documentation. Also speaking, the Country Managing Director of APM Terminals Nigeria, Klaus Laursen, said APM Terminals Apapa has invested a total of $438 million on enabling developing infrastructure, acquiring equipment and improving processes at the terminal.

CypherCrescent Appoints Collins Alaka as New MD/CEO In line with the company’s drive towards strategic business growth and its commitment to sustain innovation to and continuously deliver improved digital technologies to solve existing and emerging industry challenges, CypherCrescent Limited has announced the appointment of Mr Collins Alaka as its new Managing Director/Chief Executive Officer of the company’s Technology & Energy services subsidiary on Wednesday, February 16, 2022. “Mr Collins Alaka, an experienced engineer and astute business leader, succeeds Mr ThankGod Egbe as the managing director/chief executive officer of CypherCrescent Nigeria Limited

effective April 01, 2022. He is tasked with the responsibilities of driving the company’s corporate goals to consolidate its position as a renowned provider of worldclass digitalisation technologies to the energy industry. “With over 33 years working experience in the oil & gas industry with Schlumberger, Chevron and SPDC, Collins Alaka has held several leadership positions including Asset Development Manager, SPDC onshore NOV as well as Business Opportunity Manager, Iseni, Okpukunou/Tuomo West, and Brass fertilizer projects. He holds a bachelor’s and post graduate degrees in petroleum engineering from the University

of Port Harcourt.” The outgoing CEO Mr ThankGod Egbe until now tripled as the Technical Director, Managing Director, and CEO will continue to function as the Chief Technology Officer while still being accountable for critical issues of CypherCrescent Group. This he pointed out was necessary to allow him focus on driving innovations that will define the future of CypherCrescent Group. On behalf of the board of directors, the chairman, Engr Alek Musa welcomed the incoming MD/CEO and expressed their confidence that CypherCrescent Nigeria Limited will continue to grow and prosper under his leadership.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ˜ Ͳ˜ ͰͮͰͰ

Cadbury Nigeria Reports N42.37bn Turnover in 2021 Kayode Tokede Cadbury Nigeria Plc, a subsidiary of Mondel z International, has reported gross earnings of N42.37billion for the full year ended December 31, 2021. The turnover translates to 19.67 per cent growth, when compared to N35.41billion

realised in the same period in 2020. This is contained in the Company’s audited financial result released over the weekend. In a statement, the Company said its pretax profit grew from N408.065million in 2020, to N1.097billion in 2021, representing an increase of 169.05

P R I C E S MAIN BOARD

F O R DEALS

per cent. The Company added that it continues to maintain a strong balance sheet with total assets of N43.688billion, which represents an increase of 31.55 per cent when compared to N33.210billion recorded in 2020. Managing Director, Cadbury Nigeria, Mrs. Oyeyimika

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

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Adeboye in a statement attributed the Company’s strong performance in 2021 to the effectiveness of its strategy and capacity to generate sustainable revenue. She said: “Despite the tough operating environment characterised by high cost of doing business, rising inflation,

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A S

high cost of fund, difficulty in accessing forex, and policy inconsistency, which increased our manufacturing, selling and distribution expenses, we recorded an appreciable increase in our topline growth, which is our highest so far.” However, she said the Company’s export business

O F

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was impacted by volatility in forex rate and the perennial port congestion in Apapa, Lagos State, noting that the Company has been shipping its products to and fro Ghana via sea freight, following the introduction of new transit charges on trucks by the Government of the Republic of Benin, in June 2021.

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MONDAY APRIL 4, 2022 • T H I S D AY

MONDAY, APRIL 4, 2022 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 31Mar-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 6.92% Anchoria Equity Fund 138.45 140.06 -1.25% Anchoria Fixed Income Fund 1.21 1.21 6.02% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.97 21.61 3.40% ARM Discovery Balanced Fund 479.61 494.07 6.30% ARM Ethical Fund 39.90 41.10 2.42% ARM Eurobond Fund ($) 1.06 1.06 -2.19% ARM Fixed Income Fund 1.03 1.03 1.72% ARM Money Market Fund 1.00 1.00 6.60% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 109.15 109.15 7.31% AVA GAM Fixed Income Dollar Naira 1,091.12 1,091.12 9.11% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.11 2.11 10.53% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.25 2.30 14.76% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 2.16% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.44% Paramount Equity Fund 18.05 18.38 7.27% Women's Investment Fund 143.68 145.31 3.32% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 7.07% Cordros Milestone Fund 139.19 140.08 5.29% Cordros Dollar Fund ($) 111.78 111.78 4.87% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.09% Emerging Africa Bond Fund 1.02 1.02 5.87% Emerging Africa Balanced Diversity Fund 1.03 1.03 12.88% Emerging Africa Eurobond Fund 101.74 101.74 3.68% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,432.34 1,432.34 9.91% FBN Balanced Fund 185.74 187.15 5.98% FBN Halal Fund 118.06 118.06 8.98% FBN Money Market Fund 100.00 100.00 7.52% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

123.22 155.77

123.22 4.06% 157.87 3.30% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.99 1.77 1.22

Offer Price Yield / T-Rtn 1.00 6.43% 3.99 -0.38% 1.81 1.93% 1.22 1.07% coralfunds@fsdhgroup.com

Bid Price 4,005.03 3,520.87 100.00

Offer Price 4,068.62 3,520.87 100.00

Yield / T-Rtn 2.93% 1.51% 6.24%

1.09

0.86%

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 4.11% Vantage Balanced Fund 2.98 3.05 4.51% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 139.34 139.34 -2.77% Vantage Equity Income Fund (VEIF) - June Year End 1.26 1.30 0.04% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 4.21% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 103.38 103.38 8.26% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.05% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.56 1.58 -3.04% PACAM Fixed Income Fund 11.77 11.77 5.16% PACAM Money Market Fund 10.00 10.00 6.86% PACAM Equity Fund 1.41 1.42 -2.18% PACAM EuroBond Fund 115.48 118.10 0.29% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 127.35 129.58 7.43% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 9.25% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,527.70 3,567.13 2.47% Stanbic IBTC Bond Fund 237.58 237.58 0.78% Stanbic IBTC Ethical Fund 1.36 1.38 5.38% Stanbic IBTC Guaranteed Investment Fund 317.62 317.62 1.37% Stanbic IBTC Iman Fund 252.63 256.51 4.37% Stanbic IBTC Money Market Fund 100.00 100.00 4.75% Stanbic IBTC Nigerian Equity Fund 11,437.58 11,599.03 2.96% Stanbic IBTC Dollar Fund (USD) 1.31 1.31 1.13% Stanbic IBTC Shariah Fixed Income Fund 117.90 117.90 0.80% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 108.40 108.40 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.97 1.00 4.71% United Capital Balanced Fund 1.42 1.44 4.06% United Capital Wealth for Women Fund 1.14 1.16 5.07% United Capital Sukuk Fund 1.09 1.09 1.84% United Capital Fixed Income Fund 1.99 1.99 1.79% United Capital Eurobond Fund 123.95 123.95 1.31% United Capital Money Market Fund 1.00 1.00 5.24% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.46 13.59 2.08% Zenith ESG Impact Fund 15.48 15.65 5.94% Zenith Income Fund 22.40 22.40 1.79% Zenith Money Market Fund 1.00 1.00 5.92%

REITS NAV Per Share

Yield / T-Rtn

122.16 53.16

1.62% 0.82%

Bid Price

Offer Price

Yield / T-Rtn

14.23 134.05 106.74 20.47 21.35

14.33 137.35 109.04 20.57 21.45

1.86% 1.83% 2.99% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.04 5.49 17.96 1.00 21.07 169.45

4.14 5.59 18.16 1.00 21.27 171.45

0.79% -5.96% 1.56% 6.95% 5.39% 7.36%

INFRASTRUCTURE FUND

Fund Name NAV Per Share Yield / T-Rtn Chapel Hill Denham Nigeria Infrastructure Debt Fund 107.28 10.80% The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

FSDH Dollar Fund

MONDAY, APRIL 4, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Ukraine Claims Control Kyiv, Surrounding Areas Ukraine said Saturday it is in control of the capital city of Kyiv and its surrounding areas, as Russian troops have withdrawn. US and other Western defence and intelligence officials have warned that Moscow is repositioning its forces in preparation for what the Kremlin has said will be a renewed focus on the Donbas region in eastern Ukraine. Reuters reports Ukraine has “retaken more than 30 towns and villages around Kyiv.” Ukraine President Volodymyr Zelenskyy has warned that what Russia has left behind in Kyiv and its nearby areas is a “complete disaster,” a territory with mined land, houses and equipment. The president claimed even dead bodies had been mined. Zelenskyy said Saturday in his nightly address, “We should not cherish empty hopes that” the Russians “will simply leave our land.” He said peace could only be gained through “hard battles,” “negotiations,” and “daily vigorous work.” Lithuanian Filmmaker Killed in Ukraine’s Mariupol Lithuanian filmmaker Mantas Kvedaravicius, 45, was killed trying to flee Ukraine’s city of Mariupol, besieged by the Russians, the Ukrainian military said Sunday. “While trying to leave #Mariupol, the occupiers killed Lithuanian director Mantas Kvedaravicius, the author of the documentary Mariupolis,” the defence ministry’s information agency wrote on Twitter. Russian filmmaker Vitali Manski, who founded Artdocfest, a film festival in Moscow that had previously invited Kvedaravicius, also announced the death. Kvedaravicius “was killed today in Mariupol, camera in hand” in this “shitty war of evil against the whole world,” Manski wrote on Facebook. Lithuania’s Foreign Ministry said it was “shocked” by the news of Kvedaravicius’ death in Mariupol “where he was documenting #Russia’s war atrocities. His previous film “Mariupolis” (2016) told the story of a besieged city with a strong will to live,” it added. Born in 1976, Kvedaravicius made his name with the documentary “Mariupolis,” filmed in the Ukrainian city and premiered at the Berlin International Film Festival in 2016. Ukrainian resistance in Mariupol has hampered Russian efforts to consolidate its hold on southern and eastern areas of Ukraine since invading on February 24. According to Ukrainian officials, at least 5,000 residents have been killed in the southern port city, while the estimated 160,000 who remain face shortages of food, water, and electricity. Blinken Condemns Russian War Atrocities US Secretary of State Antony Blinken sharply condemned Russia on Sunday, accusing it of committing war atrocities in Ukraine as the world saw its first glimpse of the bodies of dead Ukrainians left behind like trash in the streets of the Kyiv suburb of Bucha after Russian troops departed the area. “You can’t help but feel a punch to the gut,” the top US diplomat told CNN’s “State of the Union” show. “We cannot become numb to this. We cannot normalize this.” Blinken said the United States would be “looking hard to document” Russian war crimes throughout Ukraine even as Ukraine is claiming it has retaken control of the north-central region around the capital. Moscow’s troops have pulled back from the Kyiv territory to concentrate new attacks in southern Ukrainian cities along the Black Sea and the contested Donbas region in eastern Ukraine. Reflecting on the bodies found in the streets, Ukrainian President Volodymyr

power in August. Taliban troops man dozens of checkpoints throughout the city. The Taliban’s greatest threat comes from the Islamic State group affiliate known as Islamic State in Khorasan Province or IS-K. The Taliban have cracked down on the affiliate in its stronghold in eastern Afghanistan. In a statement, IS-K said late Saturday they targeted a Taliban vehicle in Kabul, killing everyone inside the vehicle. However, there was no confirmation from the Taliban rulers or signs of an explosion Saturday.

Zelenskyy told CBS’s “Face the Nation” show, “Indeed. This is genocide.” He said Ukraine is being “destroyed and exterminated” by Russian forces. Sri Lanka Protesters Defy Curfew after Social Media Shutdown Armed troops in Sri Lanka blocked a Sunday opposition protest march staged in defiance of an emergency curfew to protest the island nation’s worsening economic crisis after authorities imposed a social media blackout to contain public dissent. The South Asian island nation is facing severe shortages of food, fuel and other essentials, along with sharp price rises and crippling power cuts, in its most painful downturn since independence from Britain in 1948. President Gotabaya Rajapaksa imposed a state of emergency on Friday, the day after a crowd attempted to storm his home in the capital Colombo, and a nationwide curfew is in effect until Monday morning. The Samagi Jana Balawegaya (SJB), Sri Lanka’s main opposition alliance, denounced a social media blockade imposed Sunday to quell intensifying public demonstrations and said it was time for the government to tender its resignation. Armed troops moved to stop a protest by more than 100 opposition lawmakers and supporters attempting to march to the capital’s Independence Square from the home of opposition leader Sajith Premadasa. Omicron Variant Causes Spike in UK COVID-19 Cases Britain is experiencing a record number of COVID-19 cases, with almost 5 million people, or one person in every 13 infected, according to official data. The news of the spike in infections came on the same day that Britain stopped giving free rapid COVID tests to most of its population as part of Prime Minister Boris Johnson’s “living with COVID” plan. Under Johnson’s plan, people who do not have conditions that make them vulnerable to COVID-19 must pay for tests to find out if they have been infected. The uptick is blamed on the highly contagious omicron variant BA.2, which is also causing an increase in hospitalization and death rates. However, the number of infections is expected to start decreasing this month and next month, officials say. “Any infection that spreads rapidly, peaks quickly and decreases rapidly on the other side,” Paul Hunter, professor of medicine at the University of East

Anglia, told The Guardian. According to an Associated Press report, a University of Oxford biology professor said he believes most people in the country will be infected with the variant this summer. Taliban Ban Opium Poppy Cultivation The Taliban have outlawed the cultivation of drugs, including opium poppy, across Afghanistan, the world’s biggest opium producer, accounting for 85 per cent of global production. A decree issued Sunday by the ruling Islamist group’s reclusive supreme leader, Haibatullah Akhundzada, also banned the production, usage, transportation, trade, export and import of all other drugs. “If anyone violates the decree, the crop will be destroyed immediately, and the violator will be treated according to the Sharia law,” according to the order announced by the Taliban Interior Ministry at a news conference in Kabul. The hardline group seized power from the now-defunct Western-backed government days before the United States and NATO-led foreign troops withdrew from Afghanistan in August. Since then, the Taliban have been under pressure from neighbouring and regional countries to combat the production as well as trafficking of drugs. The opium harvest in Afghanistan increased by eight per cent in 2021, compared to last year, to 6.800 tons, according to a report released in November by the United Nations Office on Drugs and Crimes (UNODC). The UNODC estimated in its report that income from Afghan opiates amounted to $1.8- to $2.7 billion in 2021 inside Afghanistan, but much larger profits are made in the illicit drug supply chains outside the country. 15 Wounded in Kabul Explosion An explosion in the centre of the Afghan capital of Kabul on Sunday wounded at least 15 people, according to witnesses. It wasn’t immediately clear what caused the blast, and no one immediately claimed responsibility. Taliban authorities didn’t immediately comment. Video shot by AP showed wounded being removed from the site, carried by passersby. Wais Ahmad, a money changer, said the explosion happened inside a market where money changers operate. The market was closed immediately after the explosion, and Taliban security surrounded the area. The blast was the first in the Afghan capital in months. Afghanistan’s Taliban rulers have stepped up security throughout most of the country since sweeping to

Thailand, Southern Insurgent Group To Halt Violence During Ramadan The Thai government on Saturday hailed “significant progress” in the latest talks with the main group fighting an insurgency in Thailand’s Muslim deep south after the sides agreed to stop violence during the upcoming holy month of Ramadan. A Thai government delegation and representatives of the main rebel group, the Barisan Revolusi Nasional (BRN), met face to face earlier this week in Malaysia in the latest round of talks after peace dialogue resumed in January after a two-year pause because of the COVID-19 pandemic. More than 7,300 people have been killed in insurgency-related violence since 2004, when a decades-old rebellion flared up in the provinces of Narathiwat, Yala, Pattani and parts of Songkhla, a predominantly Malay-speaking Muslim area in majority Buddhist Thailand. The BRN said in a statement that the two sides have agreed to stop violence during Ramadan, which runs from April 3 to May 14, to “create a safe and prosperous atmosphere” for the community as a process of “confidence-building” to “establish meaningful peace.” Thailand said in a statement that the creation of an “environment conducive to peace” during Ramadan would allow people to “safely perform their religious practices” and boost public confidence in the peace dialogue. Hungarians Vote on Giving Pro-Putin PM Orban 4th Term Polls have closed in Hungary’s national election on Sunday in which pro-Putin nationalist Prime Minister Viktor Orban was seeking a fourth consecutive term. The contest is expected to be the closest since Orban took power in 2010, thanks to Hungary’s six main opposition parties putting aside their ideological differences to form a united front against his rightwing Fidesz party. Voters were electing lawmakers to the 199-seat parliament. There were no exit polls but the first results are expected later in the evening. Opinion polls in the last days of the race gave Orban’s Fidesz a slight advantage over the Western-looking coalition of opposition parties. Opposition parties and international observers have pointed out structural impediments to defeating Orban, highlighting pervasive pro-government bias in the public media, the domination of commercial news outlets by Orban allies and a heavily gerrymandered electoral map. The Organization For Security and Cooperation in Europe sent a full observation mission to Hungary to monitor Sunday’s election, only the second time it has done so in a European Union country. Gabor Somogyi, a 58-year-old marketing professional, said after voting that he believes Hungary’s media favours Orban and Fidesz and has made the election unfair. “I really count on the monitoring. It’s fine. I’m happy with that. But I don’t really believe [the election] will be clean enough. Even the campaign was not clean enough,” Somogyi said.

MONDAY APRIL 4, 2022 • T H I S D AY

T H I S D AY • MONDAY, APRIL 4, 2022

NEWSXTRA

WE ARE OPEN FOR BUSINESS... L-R: Keynote speaker, Dr. Gbenga Olabanji; Chief Marketing Manager, Buma Resources Nigeria Ltd; Mr. Bello Zubairu; Chairman of the occasion, Senator Mohammed Alkali Gumel; Sarkin Kudun Gaya,Alhaji Salihu Darki; Managing Director, Kano State Agricultural and Rural Development Authority, Dr. Junaidu Yakubu, and Deputy Director, Training, Centre for Dryland Agriculture, BUK, Kano; Prof. Sanusi Gaya Mohammed, during the launch of Geo Fertilizer in Kano... recently

Emirates’ Offer on National Carrier, An Encouragement to Bidders, Says Sirika Kasim Sumaina in Abuja The management of Emirates Airlines has made an offer

to partner with the Nigerian government in its quest to establish a national carrier. Speaking recently during

ACOMIN: States Not Meeting Obligation on Anti-malaria Drugs for Pregnant Women Onyebuchi Ezigbo in Abuja The Civil Society in Malaria Control, Immunisation and Nutrition (ACOMIN) has said most of the states in the country have failed to provide basic anti-malaria medicines to protect pregnant women from the scourge of the disease. It expressed concern that progress at curbing maternal deaths and infant mortality rate due malaria was being threatened by poor funding by state governments. According to ACOMIN, malaria remained a major health burden for Nigeria, with the country recording the highest number of global cases (27 per cent) and also accounting for the highest number of deaths (23 per cent) globally. It stated that available statistics showed the pregnant women and children under age five were most vulnerable to malaria. Speaking to THISDAY shortly after a quarterly advocacy meeting of the group in Abuja, ACOMIN National Coordinator, Mr. Ayo Ipinmoye, said the COVID-19 pandemic has significantly affected the availability of resources for the anti- malaria programme. According to Ipinmoye, funding for anti-malaria programme from development partners and donor agencies has dropped significantly in recent years. "Global Fund is giving Nigeria long lasting mosquito treated nets and through mass campaign every household in the states will be able to get them. They are also giving us other essential medicines. But Global Fund asked our state governments to provide preventive treatment for pregnant women by making sure that such medicines (SPEs)

like fansidar, Amala. “The state governments are supposed to provide that so that when the Global Fund is providing all of these more expensive ones, the cheapest of the medicines are supposed to be provided by our state governments and they are not being provided. “Virtually every state we go now, there is a stock out. Because if we have this provided and women take them, we will not be having all these incidences of women dying due to malaria or losing their babies," he said. Speaking on the utilisation of the grant from Global Fund, Ipinmoye said ACOMIN and others community-based organisations are working across 13 states of federation equipping the people with relevant knowledge, skills and resources. He said one of the key achievements of the project was that several communities had been able to mobilise resources to solve their health needs rather than waiting for government. For instance, he said one evidence of community ownership was recorded in Funakai, Local government Area, Bake ward in Gombe State, where a new Primary Health Centre was being built. With regard to ensuring equity in the provision of healthcare services in Nigeria Ipinmoye said ACOMIN was working to see that there is equal access to malaria services "Every person unresponsive of their socio-economic class, gender, ethnicity, demography and location should have equal rights and unrestricted access to malaria services, malaria interventions and ultimately, proper healthcare services,” he said.

a panel session moderated by Richard Quest to discuss the future of Aviation at the Dubai Expo 2020, Tim Clark, President of Emirates, had said the organisation would be very happy to help if any assistance was required in starting the national carrier. According to Clark who was speaking in support of the position of Nigeria’s Aviation Minister, Hadi Sirika, the establishment of a national carrier was an almost compelling case for Nigeria, going by certain indices.

“Of course, Nigeria needs a national airline. There is an enormous business case for the national carrier. Nigerians are seeking to travel all over the world. "Nigeria is a power house of Africa. We are very interested in flying there because it is a rich nation in terms of demand for services,” Clark had said. According to the Minister, the offer by Emirates cannot be anything other than an endorsement of the need, the zeal, and, of course the process for the national carrier project.

“It is also an expression of confidence of the international aviation community in the commitment of the Buhari government to it,” he added. Sirika, in a statement by his Special Assistant, Public Affairs, James Odaudu, also saw the offer as an encouragement to the many bidders currently preparing their PPP bids for Nigeria Air in response to the recently advertised Request for Proposal. According to him, "process for the acquisition of the Air Operator’s Certificate (AOC)

and the Air Transport License (ATL) is well on course for the expected launch date of the airline, which Senator Sirika has assured, Nigerians will be proud of. "As has been repeatedly stated, the whole process for the establishment of the national Carrier, and indeed, all the projects under the Administration’s Aviation Roadmap, has been guided by the principles of transparency and accountability and this will remain till the final delivery of the project."

Arewa Youths: Osinbajo Seeking Immunity against Prosecution with 2023 Ambition Juliet Akoje in Abuja. A coalition of Arewa Civil Society Groups, has cautioned the ruling All Progressives Congress (APC) and the Nigeria electorate to be mindful of the presidential aspiration of Vice President Yemi Osinbajo, because he simply wanted immunity against plausible prosecution after the 2023 elections. The Arewa group at a press briefing in Abuja, yesterday, insisted that Osinbajo was contesting for president to continue enjoying immunity against prosecution, after 2023. Convener of the group, Comrade Musa Attah, while briefing Journalists, alleged that the vice-president mismanaged funds under his control and office, for various social intervention programmes of the President Muhammadu Buhari administration. "The leadership of the Coalition of Arewa Civil Society Groups welcomes you all to this significant press conference, which has become a child of necessity, given the recent clamour for the Vice President, Yemi Osinbajo, to vie

for the highest political office in the country. “As a group representing a vast interest of critical stakeholders in northern Nigeria, and some other parts of the country, we are constrained to lend our voice to an ambition we consider misplaced and against the interest of the generality of Nigerians, in our quest for sustainable growth and development. “The presidential aspiration of Vice President Yemi Osinbajo does not suit the purpose, given his track record in the mismanagement of the various Social Intervention Programmes of the federal government hitherto domiciled in his office, before the creation of the Ministry of Humanitarian Affairs, Disaster Management and Social Development. “It is instructive to ask questions about how Vice President Yemi Osinbajo managed the National Social Investments Programmes (NSIP), intended to tackle poverty and hunger across the country. “For the records, the suite of programmes under the NSIP focuses on ensuring a more equitable distribution of resources

to vulnerable populations, including children, youth and women, under the supervision of the Office of the Vice President. “The N-Power Programme, Conditional Cash Transfer Programme, Government Enterprise and Empowerment Programme, the Home Grown School Feeding Programme and the Tradermoni Empowerment Scheme, were all intended to bring succour to the vulnerable groups in the country. “Therefore, it is curious how such laudable initiatives were mismanaged by the Office of the Vice President, which warranted the President to create a new ministry and transferred the responsibility of managing these programmes to the Ministry of Humanitarian Affairs, Disaster Management and Social Development. “What Nigerians might be aware of is that, under the supervision of Vice President Yemi Osinbajo, the National Social Intervention Programmes became an avenue for corrupt enrichment by the Vice President and his cronies. They diverted funds meant for the vulnerable

groups to private pockets. “The heist committed by the Vice President and his cronies in implementing the programmes is quite despicable and a shame, given the multitude of evidence pointing to gross mismanagement and abuse of office. “Therefore, it is unimaginable for the Vice President to indicate interest to rule this country. The implication of a Yemi Osinbajo's presidency in Nigeria is that, the country's resources would be diverted to private pockets most brazenly, as we saw in the NSIP. “It, therefore, amounts to an insult to the sensibilities of Nigerians for Vice President, Yemi Osinbajo, to want to lead Nigeria. He lacks morals and uprightness, as evident in his corrupt tendencies and lack of sincerity of heart and purpose. “At this point, we are tempted to state in unequivocal terms that the attempt by Vice President Yemi Osinbajo to seek the highest political office in the county is an attempt to shield himself from the probe after the expiration of his immunity,” the statement stated.

T H I S D AY • MONDAY, APRIL 4, 2022

NEWSXTRA

2023: Crisis Brews as PDP Stakeholders Accuse NWC Members of Sabotage Party lists conditions for submission of forms to all aspirants Chuks Okocha in Abuja A fresh crisis might be imminent in the Peoples Democratic Party (PDP) as elders and stakeholders of the party in Anambra had accused some members of the National Working Committee (NWC) of sabotaging and trading away the party’s interest ahead of the 2023 general election. This is as the party has listed conditions for a successful submission of all nomination forms by all the presidential aspirants and other categories of aspirants that purchased forms. In another development, the Director-General, Saraki Campaign Organisation, Earl Osaro Onaiwu, has advised the party to allow all presidential aspirants to contest the presidential ticket of the PDP However, the PDP stakeholders, has accused the party’s National Secretary, Senator Samuel Anyanwu, and the National Legal Adviser, Kamaldeen Ajibade, SAN of allegedly masterminding the hijack of PDP party structures nationwide, starting with Anambra congresses. THISDAY gathered that the aggrieved members under the aegis of Anambra PDP Stakeholders Forum, in a statement by their coordinator, Chief Emeka Nwankwo, yesterday, appealed to the National Chairman, Dr. Iyorchia Ayu, to immediately intervene as party members in Anambra were already threatening to leave en masse if the PDP failed to immediately conclude the Anambra State congress and elect a new exco in the state. The stakeholders accused the PDP National Secretary and the National Legal Adviser of working with some “fraudulent individuals in the Anambra Chapter to use the courts to frustrate the party and hijack its structure in the state”. It also accused the two national officers of “orchestrating the continued delay to conclude Party congresses in Anambra State, as

well as last Friday’s indefinite suspension of the State Congress by the NWC without any official reasons. “It is instructive to state that elders of our party in Anambra State have been making efforts to curtail the excesses of these fraudulent individuals in the Anambra Chapter but their plots are now being aided by the two national officers. “About two months ago, Party elders from Anambra led by His Excellency, Mr Peter Obi, visited the National Chairman and the NWC over an alleged plot by some members, particularly, Chief Chris Ubah and Linus Ukachukwu, to use the court to frustrate the conduct of the Anambra State congresses. “The National Chairman, Senator Iyorchia Ayu, had in that meeting reassured that no court can stop the congress, promising that his leadership will ensure a free, fair and transparent congress thereby bringing lasting peace to the Anambra PDP. “Relying on the assurance of the National Chairman, the party elders worked hard in expectation of free, fair and credible congresses only to discover that the process is being sabotaged/hijacked by these individuals. Any time the congress is scheduled, the National Secretary and National Legal Adviser will throw up issues that will end up frustrating and stalling the process. “Strangely, individuals indicted for absconding with sensitive materials at various stages of the exercise were reappointed as electoral committee members instead of being sanctioned. Such persons signed fictitious result sheets, which were used by Chief Chris Ubah and Linus Ukachukwu against our party in court. “While the committee is yet to officially submit its report to the NWC, Chris Ubah and Linus Ukachukwu had used fictitious results made available to them by their agents in the NWC to

obtain a strange and fraudulent Court order. “Most curiously is that a counsel, Mr Adedamola Fanokun, was sent by the National Legal Adviser to collude with the said plaintiffs against our party in court. This Forum,

Saraki’s campaign advises all presidential hopefuls to contest therefore, strongly urges the National Chairman to restore the confidence in the conduct of the forthcoming party primaries across the nation by starting with Anambra State Congress. Most instructive is that the Supreme Court had ruled in a

case sponsored by Chief Chris Uba against the candidate of the PDP in the last Anambra governorship election that the FCT High Court does not have territorial jurisdiction and powers to interfere in the processes of the Anambra PDP.

“We urge the NWC to conduct an open hearing into the role being played by the National Secretary and the National Legal Adviser regarding the PDP congresses in Anambra State. We have the evidence and records to show at such a public hearing.

AT THE NIGERIAN PAVILION IN THE DUBAI EXPO 2020... Edo State Governor, Mr. Godwin Obaseki (right), with the Project Director, Nigerian Pavilion, Busola Adeogun-Phillips at Expo 2020, at the Nigerian Pavilion in the Dubai Expo 2020, in the United Arab Emirates (UAE)…recently

OBASANJO: BUHARI IS OVERWHELMED, NIGERIA IN SERIOUS SITUATION federal government to confront this problem headlong, hence his desire to seek help his own way – even when the manner of seeking such help is constitutionally beyond his power. “But then, his position could be understood against the background of desperation and the need to put an end to the horror going on by any means possible.” Afenifere asserted that the solution to the problem did not lie in hiring foreign mercenaries but sincerely seeking available local the answers. The group said the first step was for the Buhari government to be genuinely determined to put an end to the carnage. It stated, "In this determination should be adequate funding of the armed forces, proper motivation of the forces, a stoppage to the kid glove treatment being given to terrorists, and more importantly, immediate approval for willing state governments to set up their own police forces. "There are dangers in bringing in foreign mercenaries by these governors, because their antecedents in the recent past do not give us reasons to trust them. They could, perhaps, use the said mercenaries against indigenous people.” Afenifere said such a call by a sitting governor exposed the governor as preferring to address an issue on the surface rather

than from its root. It stated, "Who would pretend not to know that many of our farmers and local people live in hamlets and villages? Would it not be those innocent people, who would be so ‘cleared’ especially since fifth columnists are likely to have informed the terrorists of the planned invasion beforehand? This is one of the reasons why the governors cannot be trusted on the issue of importing foreign mercenaries." Based on the claims by official sources that more than N4.27 trillion had been spent on defence in seven years, Afenifere lamented that in spite of this colossal sum, “the situation is getting worse by the day.”

APC Leaders Fuelling Terrorism, PDP Tells El-Rufai The Peoples Democratic Party (PDP) said the expression of frustration over the security situation and threats by Governor Nasir El-Rufai of Kaduna State to invite foreign mercenaries in the fight against terrorists was a further confirmation and admission of the failure of the All Progressives Congress (APC) administration in which he is a key player. The PDP maintained that ElRufai could not distance himself from those fuelling and aiding insecurity in the country.

In a statement by its National Publicity Secretary, Debo Ologunagba, PDP said the alarming insecurity in Nigeria that had led to the killing and maiming of tens of thousands of Nigerians since APC took office in 2015, was the result of the actions and comments by APC leaders and government officials, who encouraged acts of terrorism in the name of politics. PDP said Nigerians could still recall how in July 2021, El-Rufai, when asked why the federal government was lethargic in going after bandits, stated that the terrorists were collections of independent criminals for whom banditry was a business. "Nigerians can also recall how ahead of the 2019 general election, Governor El-Rufai threatened that, ‘those that are calling for anyone to come and intervene in Nigeria, we are waiting for the persons that will come and intervene, they will go back in body bags.’” The party said the media was also awash with reports of how governors of APCcontrolled states, especially, in the North-west, publicly romanced and empowered terrorists by paying them billions of naira of public funds in various hurried, uncoordinated, and hazy negotiations. PDP stated, "Nigerians have not forgotten how in November 2020 the Muhammadu

Buhari presidency, through its spokesperson, Shehu Garba, rationalised the beheading of 43 rice farmers in Borno State by terrorists and blamed the farmers for not obtaining clearance before going to their farms. "Such comments and actions by Governor El-Rufai, the Buhari presidency, and other APC leaders have the propensity to embolden terrorists to unleash violence on innocent people, the results of which are now apparent and living with us. "Our party challenges Governor El-Rufai and other APC leaders to speak out on the confession by a former APC leader that the terrorists pillaging our nation were brought in by APC leaders to rig the 2019 general election, but had remained in the country following the failure by the APC to pay them for the heinous ‘services’ they were contracted to provide against the Nigerian people." PDP said El-Rufai should know that he and other APC leaders could not under any circumstance distance themselves from blame in the worsening insecurity, pain, horror, social dislocation of families, and lifediscounting experiences being encountered daily by Nigerians under the APC. PDP told El-Rufai that his suggestion or threats to import foreign mercenaries was counterproductive and capable of compounding the already dire

security situation in the country. The opposition party said it believed in the competence and capability of the country's gallant armed forces to defend Nigeria’s territorial integrity, adding that the security agencies are only encumbered by manifest complicity, conspiracy, incompetence, and failure of the security command and control coordination structure of the APC administration. Seven of 11 Coaches Re-railed to Safety, as 80 Metres of Affected Rail Track Repaired The Nigerian Railway Corporation (NRC) said it had re-railed seven out of the 11 coaches of the Abuja-Kaduna AK9 train, which was bombed last Monday by terrorists between Rijana and Rigasa, in Kaduna State. NRC also disclosed that 80 metres of the affected rail tracks had been repaired. In a statement by its Managing Director/Chief Executive Officer, Mr. Fidet Okhiria, NRC confirmed that four coaches (SP 00004, SP00009, SP00012 and SP00013) out of the 11 involved in the incident had been re-railed and safely moved to Rigasa Station, while work was on-going on the track repairs. Okhiria stated, "We did also state that 170 of the passengers onboard the train are safe while 21 passengers are reported missing. At the end of today's evening work, (02/04/2022),

the NRC’s restoration team has further re-railed four more coaches and two of the coaches (SP 00007 and SP 00013) had been safely moved to Idu and Rigasa stations, respectively. The other two coaches are still at the site due to damaged tracks. "This brings the total coaches so far re-railed to seven, but only five successfully moved to the stations. However, efforts are on to linked the track, at the moment, a total of 80 meters of the affected section has been fixed, including replacement of affected sleepers and twisted rails. "The corporation also confirmed updates that a total of 172 passengers on board the AK9 are safe and okay while 21 passengers are still reported missing. Let us assure our esteem passengers that the corporation, in collaboration with the security agencies, will leave no stone unturned in our efforts at rescuing the missing persons." The NRC boss condoled with those who lost their loved ones and prayed for the repose of the lost souls. He also sympathised with the injured passengers and everyone onboard for the trauma the unfortunate incident had caused. Okhiria expressed gratitude to the security agencies, particularly, Nigerian Army, Nigerian Air force, Nigeria Police, and Nigeria Security and Civil Defence Corps, for their support and cooperation.

IMAGES

T H I S D AY ˾ MONDAY APRIL 4, 2022

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

R-L: Programme Director, ISHK Tolaram Foundation, Ms. Neha Mehra; Programme Manager of the Foundation, Ms. Laura Ede; and others during a visit to the Limb Centre of the Foundation in Lagos…recently

L-R: District Officer, Lagos Education District II, Olowe Kehinde; Chief Executive Officer, 9mobile, Juergen Peschel; winner of 9mobile Future-CEO speech contest, Jane-Frances Okorie; and Chief Information Officer, 9mobile, Ibikunle Jimo, during a courtesy visit to 9mobile head office by the winner of 9mobile Future-CEO Initiative on Banana Island in Lagos…recently

L-R: New Permanent Secretary, Lagos State Emergency Management Agency (LASEMA), Dr. Femi OkeOsanyintolu; New Permanent Secretary, Ministry of Tourism, Arts and Culture, Mrs. Oyinade Nathan-Marsh; and New Permanent Secretary, Ministry of Commerce, Industry and Cooperatives, Mrs. Adetutu Oluremi Ososanya, taking their Oath of Oﬃce, presided by the tate Governor, Mr. Babajide Sanwo-Olu, at the Lagos House, Alausa, Ikeja...recently

L-R: Delta State Peoples Democratic Party (PDP) gubernatorial aspirant, Olorogun David Edevbie; Business Mogul, Chief Morrison Olori; guest, Mr. Ogbodu Obuke; and businessman, High Chief Emmanuel Panama, during the 83rd birthday of Chief Olori in Ughelli, Delta State...recently

National Chairman, Nigerian Institution of Water Engineers (NIWE), Chinyere Igwegbe (left), and Financial Secretary, NIWE, Linda Bitrus, during a news conference organised by NIWE to commemorate the 2022 World Water Day in Abuja...recently

L-R: Chief Executive Oﬃcer, DLM Capital Group, Mr. Sonnie Ayere, collecting his certiﬁcate of induction from the Chairman of the day, Alhaji Oladejo Rasaki, at the just concluded induction of Doyens Commodity Broker of the Commodities Exchange by the management of Lagos Commodities and Futures Exchange, held in Ikoyi, Lagos…recently

L-R: Executive Assistant to Airtel Nigeria Chief Executive Oﬃcer, Paula Ebie; acting Human Resources Director, Airtel, Adebimpe Ayo-Elias; CEO/Managing Director, Airtel Nigeria, Surendran Chemmenkotil; Lead Corporate Social Responsibility, Chioma Okolie; and Lead Enterprise Customer Experience, Adebisi Femi-Oderinde, all of Airtel Nigeria, during the recent International Women’s Day commemoration at its head oﬃce in Lagos...recently

T H I S D AY • MONDAY, APRIL 4, 2022

This Week In Tech Tech Top 5 News 08097710984

AIRTEL SIGNS MOU WITH KONGA TO DEEPEN DIGITAL LANDSCAPE irtel Nigeria has signed a Memorandum of Understanding (MOU) with Konga to deepen the digital retail landscape and connect more Nigerians to a plethora of opportunities. Speaking during the MOU signing ceremony at the Airtel Headquarters in Ikoyi Lagos recently, Chief Commercial Officer, Airtel Africa, Godfrey Efeurhobo, said the strategic partnership with Konga is aimed at revolutionising the digital retail landscape as Airtel is committed to inspiring a new wave that will offer customers more offerings at their fingertips and delivered to their doorsteps. Speaking further, he explained that this partnership affirms the company’s resolve to make life better, more enjoyable, and more fun for the 50m+ customers as they connect them to places, platforms, people, services, offerings, and opportunities to transform their lives. “Indeed, this move is an important step to making online and offline offerings ubiquitous – more accessible and more affordable for everybody. At Airtel, we are not only building quality and prestigious network for voice and mobile Internet services. We are also pioneering and inspiring a new wave that will position us as the preferred partner for everything digital, e-commerce, entertainment, lifestyle, productivity, entrepreneurship, sports, etc.” he said. On his part, the Chief Executive Officer, Konga Group, Nick Imudia, said this was one of the most strategic partnerships they have had in recent times. He said the partnership was deliberate as Konga wants its customers to benefit from all offerings with Airtel. “At Konga Group, we pride ourselves on the strong partnership that exposes great products and services to Nigerian consumers. We believe that with this partnership, consumers of both companies will have access to good quality products and services at unbeatable prices,” he said. The Konga e-commerce platform offers a plethora of services and offerings that simplify the everyday experience for customers and merchants, which aligns with Airtel’s philosophy of connecting and empowering its customers and stakeholders with services and offerings that leverage technology and innovation. The partnership will enable customers of Airtel Nigeria to get the best deals at their fingertips and deliver them to their doorsteps regardless of their location through Konga.

CREDPAL CINCHES $15M TO SCALE BNPL BUSINESS CredPal, a ‘buy now pay later’ (BNPL) credit model, has announced a $15 million debt financing to grow its services across Africa. The debt financing was provided by a subsidiary of First City Monument Bank (FCMB), Credit Direct, New Investors and a few unnamed financial institutions. Greenhouse Capital is also one of the existing backers of CredPal. The new investment combines equity and debt round to support its expansion into other African markets. BNPL is a short-term financing option that allows individuals/businesses to purchase items and claim immediate ownership by paying a portion of the cost and spreading the balance over an agreed period. As the Google-backed fintech startup looks to expand both product-wise and geographically, the company said part of the new investment would also help it secure a partnership with telecom operator ,Airtel Nigeria to allow low to middleincome earners to purchase smartphones

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Tech Personality of The Week ODUNAYO EWENIYI

his week’s Tech personality is the co-founder and Chief Operating Officer (COO) of Piggyvest, Odunayo Eweniyi. Eweniyi is also the co-founder of FirstCheck Africa and several tech startups. PiggyVest is the first online ‘Savings & Investment’ app in West Africa. The platform also offers investment opportunities to users besides savings. It is a platform that promises to give everyone the power to manage better and grow their finances. According to Odun, PiggyVest wants to be the company allowing young people take full advantage of the financial ecosystem without breaking the bank. FirstCheck Africa is a platform of female business angels focused on supporting women-led and womenfocused startups in Africa. In March 2022, Odun won the Forbes Woman Africa Technology and Innovation Award. She was also listed on Time 100 Next 2021 for her joint contributions during the #EndSARS protests of October 2020. In 2019, she was on Forbes Africa 30 under 30 Technology list. in instalments. Consumers can access credit from N2,000 to N500,000, in which they are required to repay between 30 days and 180 days after making a down payment of 30 per cent. Interest rates range from four per cent to nine per cent. The omnichannel merchant suite, CredPal Pay, allows businesses of all sizes and categories to accept BNPL. The platform serves as a point-of-sale infrastructure that enables BNPL through a credit payment link, checkout plugin, QR codes and a transaction management system. TWITTER REPORTEDLY TESTING NEW COLLABORATION FEATURE Microblogging platform Twitter is said to be testing multiple new features to enhance the experience on the platform. Mobile developer and leaker, Alessandro Paluzzi, has found these new features and shared his findings in a thread of tweets. This new feature will allow users to collaborate with another Twitter account to post the same tweet to be shared with their respective followers. It has not been made public yet and will only work if the tagged user agrees to collaborate after you request them. This feature will come in handy for social media influencers working with partner businesses for their brand advert deals. Both people’s Twitter handles and names would appear at the top of the tweet above its content. This year, Twitter added the option to collab in the tweet composer interface plus making both profile images seen in the tweet.

Twitter explained that users would first ask a person or brand to “coown” a tweet with them and wait for them to accept the request. When the other user accepts the request, both accounts are shown as co-authors on the tweet. Twitter has seemingly been working on the co-authoring feature since at least last December. Considering this feature is still under development, it’s still unclear if the company will eventually release it widely. APPLE TO STOP REPAIRING IPHONES MARKED STOLEN OR LOST Apple Stores and authorized service providers will no longer repair iPhones that have been reported as stolen or missing through the GSMA device registry. According to a report in MacRumors, any device that has been reported missing or stolen will no longer be valid for repair services. This new move expands Apple’s existing policy to decline repairs for devices whose owners cannot disable the ‘Find My iPhone feature’, which automatically locks the device and displays contact information on the lock screen. The tech giant has reportedly sent out a memo to Apple Stores and authorised providers not to accept a device for repair if they get a notice on their internal MobileGenius or GSX systems that the phone had been marked as missing. That means technicians will check a device’s IMEI against the GSMA Device Registry when a customer brings it in for repair.

The GSMA device registry is a database of device serial numbers with information about each device’s status. For example, if someone reports their phone as stolen to law enforcement, the authorities may flag the device through GSMA, which can help repair providers identify a device as missing if it ever comes into their shop. It is also a database where owners can register their devices’ IMEI and designate a status for them, such as whether they’d been lost, stolen, or fraudulently obtained. This could discourage more people from buying second-hand devices outside of official and authorised sources in case they unknowingly end up with a stolen unit. alGROWithm TO BUILD AFRICA’S FIRST GROWTH TALENT ACCELERATOR Nigerian-based growth agency, alGROWithm is addressing the continent’s growth talent gap with its Growth Talent Accelerator Programme (GTAP). The programme, which is the first to be built in Africa, is a two-phase training programme in partnership with Digital Africa’s ‘Talent 4 Startups’ Initiative, which will help develop world-class growth engineers on the continent. In the evolution of Africa’s tech ecosystem, a number of important gaps are beginning to get filled. The agency uses growth engineering to design and implement sustainable growth models and strategies for African tech startups and small and medium-sized enterprises (SMEs). alGROWithm’s services span marketing to growth modelling, digital advertising and even branding. The agency has served over fifty startups in the ecosystem, including Spleet, Binance, etc., where it led a market entry campaign into Nigeria.

MONDAY APRIL 4, 2022 ˾ T H I S D AY

NEWS

Gunmen Kill 10, Injure 19 during Celebration in Plateau Seriki Adinoyi in Jos It was another tragic Saturday evening in Plateau State as unknown gunmen from nearby hills swooped on Chando Zerreci Community in Bassa Local Government Area killing 10 on the spot and leaving 19 others severely injured during an annual festival. An eye witness said the celebrants abandoned their festivity and scampered to safety in the confusion that ensued. The Irigwe ethnic group was having its annual festival called Zerreci to usher in the rainy/ farming season when the gunmen stormed the festival ground and attacked the people, leaving 10 corpses in aftermath. National Publicity Secretary, Irigwe Youths Movement (IYM), Lawrence Zongo, who confirmed the attack, said the incident occurred on Saturday evening at about 10pm. He said: “Another tragedy has happened in our land, this time, during our annual ritual festival ‘Zerreci’. The annual festival ushers us into the rainy and farming season. “The Fulani militants suddenly came upon us on Saturday evening at the ritual ground and shot sporadically at the

celebrants. “10 persons were killed on the spot, 19 others survived with bullet wounds, some of them are now at Enos Hospital Miango, while others in critical conditions have been moved to Jos.” He alleged that the Fulani were

responsible for the attacks and called on the government to rise up to its responsibility of protecting the citizens. He said: “Brutal attacks on Rigwe communities are becoming rampant and frequent. This is unacceptable. Government

must take more concrete steps to protect lives and property across Rigwe chiefdom and neighboring communities. “Nigeria authorities both at Federal and state levels failed to protect the lives and properties of the Rigwe people allowing them

to be at the mercy of gunmen. “The government must, as a matter of urgency, investigate the attacks in Rigwe land and bring the perpetrators to justice and ensure families and other victims are adequately compensated.” Also confirming the attack,

Police Public Relations Officer in the state, Mr. Gabriel Ogaba, appealed to the people to be calm, adding that the Police were on top of the situation. He said some policemen have been drafted to the area to manage the situation.

LUCKY WINNER…

L-R: Marketing Manager (West Africa), Shalina Healthcare, Folorunsho Alaran; Deputy Registrar, National Postgraduate Medical College of Nigeria, Dr. Salami Sule; Vice President/ Head, Shalina West Africa, Arun Raj; winner of the maiden edition of Shalina Rising Star Contest, Adebayo Olaolu, and National Editor of the Nigerian Association of Resident Doctors, Dr. Omoniyi Ayooluwa, at the grand ﬁnale of the contest in Lagos... recently DAN UKANA

Abia Deputy Gov Joins Guber Race Legal Advocacy Centre Blames FG, Emmanuel Ugwu-Nwogo in Umuahia

The Deputy Governor of Abia State, Ude Oko Chukwu, has embarked on a daunting task of succeeding his boss, Governor Okezie Ikpeazu in 2023 after eight years in power. Since 1999 when the present democratic dispensation was ushered in, no deputy governor has ever succeeded in becoming a governor in Abia. Senator Enyinnaya Abaribe and Dr Chris Akomas, who, as deputy governors, contested against their bosses, Senator Orji Uzor Kalu and Senator Theodore Orji in 2003 and 2011, respectively, failed in their ambitions. But Oko Chukwu feels he could break the jinx, saying that he has "consulted widely with different stakeholders" across the three senatorial zones of Abia and received strong support hence his decision to join the governorship race. "The decision to contest is borne out of personal conviction that I can lead us to take Abia to the next level. I will use my professional background as a

chartered accountant to foster and entrench good governance in the state by ensuring that we apply the best systems of transparency and accountability in the conduct of government business," he said. The Abia deputy governor stated that, having been actively involved in the affairs of the state for 18 years running, he was better placed to know the shortcomings of the state and how to overcome them. He was a member of the state legislature from 2007 to 2011 during which period he served as the Speaker of the House and later crossed over to the executive arm of government as the deputy governor. "The beauty of my involvement is that in the areas we did not do very well, I have learned good lessons for success and in areas we succeeded, I have the knowledge and opportunity to make things better for Ndi Abia," he said. Oko Chukwu, who confessed his "uncompromising stand on transparency and accountability" pledged "to offer ndi Abia a covenant of service, performance and leadership."

Parties for Weak Inclusive Governance Onyebuchi Ezigbo in Abuja

Policy and Legal Advocacy Centre (PLAC) has blamed federal and state governments for not doing enough to actualise wider inclusion of female and persons with disability in the governance of the country. It said that most of the efforts of government in ensuring inclusive electioneering process were often thwarted by poor implementation. However, the centre said that increasing participation of the marginalised groups in the electoral process will positively

enhance their influence in policy decisions. A report of a study on inclusivity in Nigeria’s elections policy carried out by PLAC with support from Macarthur Foundation made available to THISDAY, identified poor implementation framework non- criminalisation of violators of the electoral Act as a major hinderance in the quest to ensure level playground for political contest. The report said that another factor is the non-inclusion of more women and people with

disabilitie (PWDs) in legislative institutions and framework. "There is widespread disaffection by respondents about poor participation of the community of PWDs or IDPs in the legislative process such as lawmaking," it said. The study, which was meant to proffer ways to enhance the participation of marginalised groups in politics ahead of the 2023 general elections, recommended that government should partner civil society organisations(CSOs) to promote Inclusive political participation and representation.

Executive Director, PLAC, Mr. Clement Nwankwo, while speaking at the unveiling of the report in Abuja said the step is necessary because Nigeria suffers from declining civic participation in elections, with women, youths and PWDs being the most affected. He said that the CSO convened the National Roundtable on Inclusive Elections to develop a shared understanding of the issue of declining civic engagement in Nigeria and agree on best practices for inclusive elections, as we head to the 2023 general elections.

Ogun Students Task Govt on Cult Clashes James Sowole in Abeokuta

Students of tertiary institutions in Ogun State have called on Governor Dapo Abiodun and all the security agencies to urgently tackle the incessant cult slashes which had led to loss of many lives in the state before it spread to tertiary institutions. The students made the call at a joint congress of the Senate of the National Association of

Nigerian Students (NANS), Ogun Joint Campus Committee (JCC) and the National Association of Ogun State Students (NAOSS), held at the Tai Solarin College of Education (TASCE), Omu Ijebu. Ogun State had recorded many killings by rival cult groups in the last two weeks over renewed supremacy battle between members of the Aiye and Eiye Confraternity groups.

The cult clash, which started in Abeokuta, the state capital and later spread to Sagamu and Ilaro areas of the state, had claimed no fewer than 16 lives. However, all the killings had occurred outside the campuses of tertiary institutions in the state. Worrying about the menace, the students urged the government to collaborate

with State Police Command, the Department of State Security (DSS), the Nigeria Security and Civil Defence Corps (NSCDC) and other security agencies to nip the killings in the bud before it escalate. They warned that, if the menace spread to institutions' campuses, it may degenerate to a full blown crisis that may cripple tertiary education in the state.

The National Organising Secretary of People Democratic Party (PDP) Col.Umar Bature (rtd) said the ruling All Progressive Congress (APC) rose to power through lies and propaganda. Bature stated this at the weekend while fielding questions from newsmen at his residence in Sokoto.

seven years in power, APC is still sustaining its regime with lies and deceits. "You know people said we did not put the government in power on their toes, we can't do same, we spent 16 years in power, they have spent nearly seven years now, Nigerians have seen the difference,” he added. He maintained that APC

match achievements made by PDP in 16 years stressing that APC was able to give Nigerians propaganda having allegedly failed to deliver dividends of democracy to the citizenry. "Let me tell you when this people were in opposition, they politicised all issues of governance without. Proffering a single solution to any of them.

current administration is not sincere in handling security challenges bedeviling the nation. "You know if one is to tackle the security challenges facing the country , you use political, economic and military tactics. When there is poverty, unemployment, there is tendency for crime rates to increase,” he stated.

Police Operatives Intercept APC Rose To Power Through Lies, Propaganda, Says PDP Illicit Drugs in Lagos He said after spending almost administration has failed to He further disclosed that the Onuminya Innocent In Sokoto Chiemelie Ezeobi

Operatives of the Rapid Response Squad (RRS) yesterday intercepted a bus fully laden with illicit drugs at the Mile 2 area of Lagos State. The drugs, which were loaded in a Lagos colour LT bus, with the registration number AGL 205 YD, belong to one Alhaji, better known as General in Mushin. According to the state Police Public Relations Officer, SP Benjamin Hundeyin, a member of the drug syndicate confessed that they picked up the consignment, which has a street value of about N10 million at Alaba Rago around last Saturday for shipment to Mushin. Luck, however, ran out on

them when RRS officials on patrol stopped the bus on a routine check. Another member of the syndicate, Oluwole Omojuyitan, aged 40, who had initially escaped the scene on bike was arrested by the operatives after he came back with N500,000 to bribe the officers to release the drugs and suspects. Other arrested members of the gang include Ojukwu Omanogho, aged 36 and Hope Jumbo, aged 40. The Commissioner of Police, CP Abiodun Alabi, while commending the Commander of RRS, CSP Olayinka Egbeyemi and the team has since directed that the suspects and exhibits be transferred to the command headquarters for further investigations.

2023:Lai Mohammed's APC Loyalists Join SDP in Kwara Hammed Shittu in Ilorin Ahead of 2023 general elections, thousands of the members of the All Progressives Congress (APC) in Kwara State loyal to the Minister of Information and Culture, Mr. Lai Mohammed, at the weekend in Ilorin publicly dumped the party for the Social

Democratic Party (SDP). The faction had been at loggerheads with the Governor of Kwara State, Mr. AbdulRahman AbdulRazaq, over the leadership of the party since the APC took over power through "O To Ge" (enough is enough) movement in the state. Although, the national

leadership of the party set up national reconciliation committee headed by Senator Adamu Abdullahi (now National Chairman of APC) but could not resolve the issue as the faction accused him of being partial during his visit to Ilorin to engage the factions and subsequent

recognition of the governor's faction by the APC national leadership in Abuja. Even some elders of the committee in the state headed by the former Ambassador to Malaysia, Mr. Nurudeen Mohammed, intervened on the issue but also failed to make headway on the crisis.

T H I S D AY • MONDAY, APRIL 4, 2022

NEWSXTRA

Oil Theft: Nigeria Might Be Sliding into Bankruptcy, Says Pastor Adeboye The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has decried the crude oil theft in the country, warning that Nigeria might go bankrupt if the trend is not checked. Adeboye, as he is fondly called, said this in a sermon to his congregation during a thanksgiving service yesterday. “Who is stealing the oil? Where is the money going? What do they want to do with

the money? Who are the foreign nations buying this stolen oil? How many of these nations of the world are your friends?” he asked. He also raised concerns over the country’s economic future, warning that Nigeria’s debt to service revenue ratio might pose danger for decades. According to him, over 90 per cent of Nigeria’s revenue from crude oil sales is used to furnish interest accruing

Abia, Imo Police Commands Rescue Seven Kidnapped ABSU Students

Emmanuel Ugwu-Nwogo in Umuahia

The Police in Abia and Imo States have joined forces in efforts to rescue seven students of Abia State University Uturu (ABSU), who were abducted by gunmen while returning to their campus. The Abia Police Public Relations Officer, Geoffrey Ogbonna, confirmed the kidnapping of the seven students at about 7.30pm three days ago along OkigweUturu Road, saying that they have not been freed. He explained that joint efforts of the two stated police commands were needed because the kidnap incident occurred at the axis of the

road located in Imo State while the victims are students of Abia State owned institution. “Abia State and Imo State commands are on the matter. The students are from Abia and from what I heard, they are about seven in number,” he said. Meanwhile, the Vice-chancellor of ABSU, Prof, Onyemachi Ogbulu, said that the kidnappees have already made contact and requested for ransom before the students could be freed. According to him, the abductors had contacted him on Friday and demanded for N10 million on each of the students but 24 hours later they reduced the ransom to N2 million.

on debt. “We are borrowing more and according to a friend of mine, we are moving steadily towards a state of bankruptcy, a whole nation…,” the cleric said. “That is why we are going to pray so that our children and children’s children do not

keep paying debt. We are still borrowing. ” The revered preacher also spoke about the 2023 election, urging Nigerians, especially his congregation, to take part in the political process. He believes those who do not vote during elections should

not complain about how the country is conveyed. “As a Nigerian, you have a duty to register, to vote, and make sure your vote will count. You have a duty to belong to any party of your choice; you can’t refuse to vote and then complain about the

government,” the 80-year-old explained. Pastor Adeboye, however, clarified that his position “has nothing to do with partisan politics,” maintaining that he is not interested in the political party members of his church belong to.

14-year-old Wins Nigeria Info’s Student Debate Tournament After weeks of extensive debates on diverse socio-economic and political issues that pertain to the overall development of Nigeria, Ruth Okorocha, a 14-year-old student of King’s Way College, has emerged as the winner of the second edition of Nigeria Info’s “I Beg To Differ” student debate competition. The debate competition, which began on the 4th of March, 2022, had hundreds of applications from secondary school students between

the ages of 13 and 17 years. This, according to the organisers, is in a bid to create an educative platform that encourages Nigerian youths to hold intellectually-stimulating conversations that centre on the issues affecting the overall progress of the country. This will invariably develop the intellectual capabilities of the teeming youthful population across Nigeria to critically assess complex socio-economic issues that address national growth and

development. The final lap of the debate competition, which was aired live on Nigeria Info’s Hard Fact Show, had Okorocha defeat Debrah Pamzat, a 15-year-old student of Senior College, Kankon Badagry, after debating on a social-political topic centred around the need for people to be considered indigenes of their spouse’s state of origin. Commenting on the success of the competition, the Chief Executive Officer of Cool FM,

Nigeria Info, and Wazobia FM, Serge Noujaim, congratulated the finalists for their resilience throughout the various stages of the competition. “I sincerely want to use this medium to congratulate all the contestants who have participated at various levels in this competition. I understand that this debate tournament is a challenging one as everyone displayed brilliance throughout the diverse stages."

Gombe Gov Rates Party’s Performance High

Segun Awofadeji in Gombe

Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya, has stated that the All Progressives Congress (APC) in the state remains solid in terms of numerical strength and magnificent performance of its administration to show, and therefore, called on the party members in the state to guard against political wolf in

sheep clothing. Yahaya stated this while speaking at the distribution of empowerment items facilitated by the member representing Gombe South in state House of Assembly, Hon. Mustapha Usman , at the APC square at the weekend. The governor noted that the citizens tend to appreciate the true essence of leadership when leaders cultivate the habit

of doing those things that can improve their lives, saying: "This is the main thrust of the APC administration." He said his administration would continue to accord priority to policies and programmes that have direct bearing on the life of the common man, urging elected officials and political appointees to also strive in impacting on the lives of the electorate in whatever way they can.

The governor charged beneficiaries of this and other empowerment programmes in the state to utilise the items given to them for their social and economic emancipation. He noted that the empowerment programme initiated by Hassan falls in line with the APC manifesto of meeting the social and economic yearnings and aspirations of the people.

MONDAY APRIL 4, 2022 ˾ T H I S D AY

NEWS XTRA

IPOB Has Agreed to Work with Us to Bring Peace to Anambra, Says Soludo Chinedu Eze The Governor of Anambra State, Prof. Charles Soludo has disclosed that members of the Indigenous People of Biafra (IPOB) who were alleged to be behind the crisis in the South-east zone of the country, have agreed to work with his government to bring peace to the state. Soludo made this known in an interview on Channels TV’s ‘Politics Today,’ yesterday, saying his plan to sanitise the state and end criminal activities, including touting, escalated insecurity in the state because the criminal elements were daring the state government. According to him, he envisaged that it would not be easy and vowed that he would accomplish his set objectives, which are part of his agenda to transform the state. Soludo said IPOB had denied that they were part of the criminal elements fomenting trouble in the state, adding that he believed them, as they have agreed to work with his administration to eliminate killings and kidnappings that have eroded the peace in the state. “Before now things have gone so bad in the state that there

are criminal elements benefitting from the bad situation and this has become their source of livelihood. If you want to remove them from there, you don’t expect them to walk away without a fight. They wanted to attack the police station at Oko while I was carrying out inspection but they were repelled

and they ran away with gunshot wounds. “What is very interesting is that the populace is with us on this. IPOB has denied being part of the criminal activities and I believe them and they are now working with us,” the governor said. He said the current criminal

activities have no political undertone, alleging that the killings and violence that happened before the election were caused by parties that believed that they would benefit from the crisis and take over the state. He also disclosed that there are many factions

among the agitators, saying those causing the crisis in the state and other parts of the South-east were alleged to belong to the faction led by Simon Ekpa who lives in Finland. “Within the agitators there are various factions. Simon Ekpa is accused of being the one behind

current criminalities.We have also offered them some kind of amnesty. We want to train them and get them engaged in the society,” he said. When reminded that IPOB was proscribed by the federal government, he said despite the proscription, IPOB has strong influence in the South-east.

ACCOUNNTING TO SHAREHOLDERS…

L-R: Non-executive Director, Jubilee-Life Mortgage Bank Plc(JLMB), Pastor AyinOluwa Obafunso; Non-executive Director, Pastor Bitrus Yavala; Company Secretary, Mrs. Kenechi Nwagbo; Chairman, Elder Felix Ohiwerei; Ag. Managing Director/CEO, Mr. Olukayode Awolu, and Independent Director, Mr. John Obi, at the annual general meeting (AGM) of the company held in Lagos…recently

Killings: Ekiti Monarch Gunmen Abduct Police Inspector, Two Others in Mosque in Ogun Advocates Establishment of National Border Guards James Sowole in Abeokuta

Victor Ogunje in Ado Ekiti As cases of train bombing, killings, kidnapping and terrorism continue in some northern parts of Nigeria unabated, a traditional ruler in Ekiti State, Oba Adebanji Alabi, has appealed to the federal government to quickly consider the establishment of a well-trained and armed National Border Guards to curb the increasing terror attacks on Nigeria. Oba Alabi, who is the Alawe of Ilawe Ekiti in Ekiti Southwest Local Government Area of the state, also called on the federal government to ensure the closure of borders contiguous to Nigeria in the northern part of the country to ward off those stoking the ember of killings in that axis of

the country. The monarch gave the suggestions in his yesterday while commenting on recent terror attacks on Abuja-Kaduna passenger train as well as the attack on the airport in Kaduna. Alawe, a former diplomat and the immediate-past chairman, Ekiti State Council of Traditional Rulers, noted that some of those passengers who survived the train terror attack clearly revealed that most of those who carried out the attack were foreigners. "In view of current upsurge in security challenges in the country, the government should take immediate action to stop what looks like orchestrated invasion by foreigners with the collaboration of unpatriotic Nigerians.

Hacey Initiative, Osun Collaborate on Digital Health Solution Yinka Kolawole in Osogbo Hacey Health Initiative (HHI) has declared its readiness to collaborate with the Osun State Government in providing digital health solutions that would support the state in managing health data in 332 primary health facilities across the state. Speaking with journalists shortly after stakeholders meeting with directors in the State Ministry of Health and government representatives at the weekend, the Executive Director of HHI, Ms. Rhoda Robinson, said that digital health programme would improve the working conditions of health care providers in the state. Robinson noted that digitisation of health services in the state would assist the system in analysing and reviewing data in real-time to make adequate

quick decisions for the people of the state. She said that they have started the programme in five local government areas of the state to test run the technology with the residents and health system in Osun. She said: "We're working in just five local governments now. We want to move from five local governments or move to the other local government as well because that is our vision to ensure that more women and more children have access to better health care. "It is harder to learn from this kind of thing or fix the problems faster. But right now, what we are doing in the five local governments is we are learning with the technology we are learning with the people we are learning with the system or the state's health system.

The Police Public Relations Officer (PPRO) of the Ogun State Command, Mr. Abimbola Oyeyemi, has confirmed the abduction of a Police Inspector, Kamardeen Bello, and two other worshippers by gunmen, who invaded a mosque at Soyoye, Rounder area of Abeokuta, the state capital. However, Oyeyemi said he was not aware of any ransom paid. He added that the police

would not relent in dealing with kidnappers and other criminal elements terrorising the state. The police officer was said to have been kidnapped in the mosque yesterday at 8p.m. while praying. It was learnt that the police inspector, whose wife just delivered of a baby four days before the incident, was the Chief Imam of the mosque, and was attached to one of the divisional police headquarters in Abeokuta.

“After he was abducted alongside two others, the kidnappers called to demand N5 million ransom for the release of each of the victims. But with pleadings and negotiations, the money was reduced,” a source said. The source, who did not want to be mentioned, added that: “The wife of Inspector Kamarudeen was contacted with the phone number of one of the kidnapped victims.” It was learnt that the kidnappers did not know that

Bello is a police officer, as he was not on uniform or with any identity when he was abducted in the mosque. “Most of us were scared when they kidnapped him; we didn't want them to know he is a policeman. If they knew, they might have killed him over fear that he would aid their arrest,” another source stated. It was also learnt that the policeman and others kidnapped with him have been released before the week ran out, after the payment of ransom.

Uzodimma Blames Resurgence of Insecurity in Imo on Opposition The Governor of Imo State, Sen. Hope Uzodimma, has reiterated that the resurgence of insecurity in Imo State is the hand work of the opposition elements who are threatened by the successes recorded by his administration. Addressing the congregation at the end of church service at the Government House Chapel Owerri, Imo State, yesterday, the governor said

that the opposition are afraid of his modest achievements and would not allow the people to accept them. "They have rather decided to put fears in the people by attacking individual houses, burning government institutions, to make people believe that they are still in charge. God will stop them," the governor said. He further explained that his

government was "tracking those involved in the dastard act of killing and maiming of innocent people for no just cause." "Government has all it takes to match them force for force, killing for killing but will not do that as it is careful not to let blood and cause colossal damage and destruction." Uzodimma, however, said:"Soon government will

identify and separate those using the name of IPOB to perpetuate crime from those who are actual criminals, kidnappers and armed robbers." He noted that "citizens have the right to criticize government objectively, but not to take life and burn down government institutions and individual houses in the name of opposition or in any guise."

‘Restructure Nigeria to Save It from Collapse’ Chuks Okocha inAbuja The President of the Ijaw National Congress (INC), Professor Benjamin Okaba, has asked President Muhammadu Buhari to create room for the restructuring of the country to save it from collapse amidst the worsening insecurity in the land. The INC President urged the federal government to give the

necessary attention to the growing glamour from various quarters to restructure the country which has become a theatre of the daily murder of innocent Nigerians and sacking of villages by gun wielding terrorists. The INC President spoke at the occasion of the inaugural edition of the Boyloaf Annual Lecture and official launch of the “Boyloaf Foundation and 50th birthday celebration of Ebikabowei

Victor-Ben( Boyloaf) in Yenagoa. He stressed that the only solution to wrest the country from imminent collapse from the raging war from the terrorists is immediate restructuring. He said: “The Government must as a matter of urgency halt the wanton killing and destruction of properties and save the citizens from agony and misery. Politicians must also have a rethink as they

jostle to occupy elective offices in the forthcoming 2023 general elections. “If half of the energy they put into electioneering is dedicated to solving the challenge of insecurity and rejigging the economy, there would be visible progress made in this regard. Citizens must also choose wisely and exercise their franchise with a sense of responsibility by voting only those who mean well for them.

Disregard for Rule of Law Bane of Nigeria's Progress, Says Lawyer Adibe Emenyonu in Benin City A Senior Advocate of Nigeria (SAN) and Chairman, Midwest Bar Forum, Mr. George Ugbokwe, Senior Advocate of Nigeria (SAN), weekend, declared that interference and disregard for the rule of law has continue to posed

a grave danger to the progress and development of the country. Igbokwe spoke on the sideline of the maiden edition of Midwest Bar Forum quarterly meeting held at the Benin Branch of the Nigeria Bar Association (NBA), Benin City, capital of Edo State. He pointed out that if Nigeria

is desirous of success like other nations of the world, absolute independence of the Judiciary must be guaranteed and devoid of any incumbrances from the executive and the legislature. Appealing to professional colleagues, who conspired in blackmailing the judiciary to desist

forthwith, Igbokwe stressed that any attempt to hoodwinked the judiciary would spell doom for the country. "The judiciary and the courts are the only hope of the common man in Nigeria. If Nigeria must succeed, judiciary must be strengthened."

MONDAY APRIL 4, 2022 • T H I S D AY

MONDAY, ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

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Serie A: Osimhen’s Napoli Level on Points with Leaders Milan Balogun, Aribo crash with Rangers as Celtic extend Scottish League lead

Femi Solaja with agency report Even in the absence of their top striker, Victor Osimhen, Napoli gave their title aspiration a big push yesterday after they

defeated Atalanta 3-1 away in the Italian Serie A. The Nigerian international was not in Napoli’s matchday lineup after featuring in the 2022 World Cup playoffs with Ghana’s Black

Rwanda Beat Nigeria to Maiden T20 Honour in Lagos After drawing the first blood during the last group game of the inaugural Nigeria Cricket Federation Women’s T20 Invitational Tournament, Nigeria fell to the Rwandan’s bowling power in the closing game of the event yesterday. Winning the toss, Rwanda women’s team chose to bat and left 129 runs on the board for the loss of five wickets in 20 overs. In the second innings, the Nigerian team struggled to put runs on the board as their wicket fell in succession to loose with 53 runs. President of Nigeria Cricket Federation, Uyi Akpata, said the matches between the host and Rwanda were topnotch and the players gave good accounts of themselves. “Nigeria beat Rwanda in the group match and lost in the finals. For us, that is no issue, it shows a lot of improvement from our young team especially the rate at which the three 15 -year-olds performed for the country. “Nigeria’s opening batter Lucky

Stars. Nigeria lost the Qatar 2022 World Cup ticket on the away goal rule to the Ghanaians. Yesterday’s victory has now pushed Napoli go level on same 66 points as AC Milan on the Serie A log. It was also Napoli’s third straight win and their fourth in their last five matches. Lorenzo Insigne opened the scoring on 14 minutes from the

penalty spot before Matteo Politano made it 2-0 on 37 minutes. Atalanta pulled a goal back on 58 minutes through Marten de Roon before Eljif Elmas netted Napoli’s third in the 81st minute. Milan however will go three points clear if they beat Bologna at the San Siro this evening. Elsewhere, the duo of Leon Balogun and Joe Aribo were

on the losing side at home as Rangers lost 1-2 to eternal rivals, Celtic at the Ibrox Stadium yesterday afternoon. The duo just like last Tuesday in Abuja when Nigeria drew 1-1 with Ghana and lost out on away goal rule, both Balogun and Aribo played all through 90 minutes and gave Celtic the chance to move closer to reclaiming the Scottish Premier

title which Rangers won in grand style last season without losing any match. In the performance rating after the match, Balogun was given 4/10 score because of his weak header that resulted in Carter- Vickers’ goal. It was adjudged sloppy with weak passes all through the match. His compatriot, Aribo got average pass mark.

CRICKET Piety, Lilian Ude (who won two Player of the Match Award in Nigeria’s five matches) and Peculiar Agboya, have justified their inclusion in the team,” he added. He praised sponsors, Access Bank, Eko Electricity Distribution, PET Foundation, EMR, for believing in the youth and cricket to throw their weight behind the Federation. “We are grateful,” observed the NCF boss. President of the Rwanda Cricket Association, Stephen Musaale, describes the event as a great show of the development in African women’s cricket and beyond Rwanda winning it. “It was nice seeing that a lot of development is going on with other teams,” he noted with satisfaction. The NCF also confirmed that the tournament will become a yearly event where top female cricket teams would be invited to participate in the country.

Nigerian international, Joe Aribo (front, left) battled in vain as Celtic defeated Rangers 2-1 at the Ibrox in Glasgow to extend their lead at three top of the Scottish Premier League... yesterday

Philips: Super Eagles Will Bounce Back from Failure to Reach Qatar 2022 Rwanda women's cricket team celebrating winning the Invitational T20 tournament in Lagos... yesterday

AISSAC Resuscitates Athletics in FCT Schools Olawale Ajimotokanin Abuja

Sixteen schools in the FCT will participate in the first Abuja Inter-Secondary Schools Athletics Championship (AISSAC) at the Moshood Abiola National Stadium, Abuja on May 28, 2022. To be eligible, the students must not be older than 16 years for the championship to be organised according to the World Athletics standard. The Managing Partner of K.I.O. Consult, Kesiena Oghoghorie, who is organising the meet, said the one-day championship will have on its schedule events including 100m, 200m, 400m, 4 x 100m Relay, 4 x 400m Relay, 4 x 400m (Mixed Relay), Long Jump and Shot-put. Oghoghorie, a sports lawyer, said he got the motivation to embark on the project out of recognition that school athletics competition has declined in Nigeria in recent times and has

adversely affected the country’s performance at the global level. “I was also worried about the alarming rate of social vices which has become prevalent among the youths. AISSAC would, therefore, bring back the school athletics buzz in Nigeria as well as keep the youths engaged with a view to deterring them from engaging in social vices,” he said. He noted that sports engagement will assist youths to develop their personal and interpersonal skills and talents; prepare them for the challenges of life and understand that hard work comes with results. AISSAC is designed to in the next 10 years transmute to a national championship for Nigerian athletes, along the line of the Jamaica Inter–Secondary Schools Boys and Girls Championship that produced the likes of Usain Bolt, Yohan Blake among others.

As Osimhen, Oshoala, others emerge winners of 8th Pitch Awards

President of Matchmakers Consult International, organisers of the annual Nigeria Pitch Awards, Mr. Shina Philips has expressed confidence in the present Super Eagles’ squad to go ahead and accomplish great things in the near future, despite the team’s failure to qualify for the 2022 FIFA World Cup finals. Philips insisted in Abuja at the weekend that the present squad has all the qualities to succeed, including youthfulness, talent, zest, ability and enterprise. “The Super Eagles’ team as presently constituted can still win a handful of laurels for Nigeria. I see a team with so much potential and capacity to deliver. They narrowly missed the World Cup ticket but that does not mean we have a poor team. They only lost on the away goal rule and that is a technicality that can undo any great team. “I want to respectfully call on all Nigerians to continue to support the team. The Africa Cup of Nations qualifiers are right here in a number of weeks and I am sure the players are eager to make amends.” Super Eagles’ forward Victor Osimhen emerged the biggest

winner of the 8th edition of the Nigeria Pitch Awards held in Abuja last Week. The Napoli player, who was confirmed Player of the Month for March in the Italian Serie A, emerged the Striker of the Year and the King of the Pitch, making him Nigeria’s Most Valuable Player for 2021. Super Falcons and FC Barcelona Femení goal-poacher, Asisat Oshoala continued her

dominance of the women’s awards category as she was named the Queen of the Pitch for the fourth time. In the Goalkeeper of the Year category, Maduka Okoye emerged winner while Super Eagles Captain, William Troost-Ekong beat Nigerian team mates Olisa Ndah and Leon Balogun to win the Defender of the Yeara ward for the third time.

Wilfred Ndidi of Leicester City FC was named the Midfielder of the Year and Victor Osimhen staved off competition from Genk FC’s Paul Onuachu and Leicester City FC’s Kelechi Iheanacho to lift the Striker of the Year award. In other categories, 2021 League winners, Akwa United and Coach Kennedy Boboye were voted the Team of the Year and Coach of the Year respectively.

Onwuzurike Completes Sprints Double at Stanford Invitational Meet

A day after twice breaking the school’s 100m record, Udodi Onwuzurike ran a new personal season's best of 20.38secs in the 200m to successfully complete a sprint double at the Stanford Invitational at Cobb Track and Angell Field in California. The 19-year-old Nigerian's time of 20.38 is believed to be the fastest outdoor time in NCAA Division I this year, and only 0.05 off the 1978 Stanford record held by James Lofton. Onwuzurike, who also broke the Stanford freshmen record of 20.93 by Isaiah Brandt-Sims from

TRACK & FIELD 2015, also nearly reached the Stanford Invite meet record of 20.33 by Washington's Ja'Warren Hooker from 2001. In four collegiate meets – two indoor and two outdoor – Onwuzurike owns two school records (indoor 60 and outdoor 100), the No. 2 time in the outdoor 200m and No. 9 in the 4x100m. In the latter, the Stanford team of Simon, Miles Zoltak, Karson Lippert, and Onwuzurike ran 40.10, Stanford's fastest time in

four years. He ran 10.07s in the 100m on Friday to set a new personal best and school record.The time is the fourth fastest by an African man so far this year and sixth fastest in the world. His 200m time is the second fastest by an African so far after Liberia's Joseph Fahnbulleh's 20.22s run on April 1 in Florida. Onwuzurike is the fastest Nigerian over the 100 and 200m so far this year. He holds a 200m personal best of 20.21s which he ran to win the World U-20 gold in Nairobi, Kenya last year.

MONDAY, ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

SPORTS

Let's Use Sports to End the War in Ukraine I

have never liked wars. Mainly because it leaves no winners, only losers. Also because it shows a descent to bestiality when reason goes on a long break. There is a stupidity about wars that makes it an option for those who do not have a way to express what they believe in. Those who think they have all the advantages, often rush into wars they eventually end up losing. The world lost the war with Muammar Gaddafi because after his murder, there has been no peace in that part of the world. The shameful war with Saddam Hussein has turned the Middle East into a simmering theatre of conflict. Now, the embers of a possible World War3 is being fanned by just about everybody. But the West, consumed, by a desire to extend its hegemony to every part of the world, is subsequently goading Ukraine to self-destruct. Sadly, those who are well placed to advise caution, have chosen to look the other way with their silence. And of course, Brother Putin, the unrepentant 'enfant terrible' is very desperate to use any means possible to reclaim the Soviet Union Empire long dismantled.

Nigerian international, Victor Moses (Second right), and his Spartak Moscow teammates have been thrown out of the Europa League due to the Russian invasion of Ukraine Today, I do not seek to bore you with tales of war. I contend that wars are evil and therefore should painstakingly be avoided. My view is that the present war in Ukraine should not have been and that everything should be done to stop it. I think that every opportunity should be used to stop the war

and the attendant pain it costs. I am appalled by the sanctions being applied on Russia when there are not many instances when such sanctions have worked. Those who claim to love Ukraine want sanctions rained on Russia but evidence available shows that for a very long time the Russians

have been living with sanctions imposed by the West and have as a result become largely unaffected by them. A Nigerian living in Moscow said there is no evidence to show that sanctions imposed have so far had any significant effect. The mongers of war on both sides of the Ukrainian conflict do not

seem to want the crises quickly terminated. Instead of encouraging both sides to dialogue, they are either promising to impose more sanctions on Russia or to supply more weapons to Ukraine. The eventual result would see a proliferation of arms in that region which would make Poland, Germany, Greece etc less safe than they now are. Sadly, they have included sports in the list of sanctions to be imposed on Russia. Instead of using sports to foster dialogue and reconciliation, they want to turn it into a weapon of war. The last time I checked, about half of Ukraine speak the Russian language while about 20 per cent of the population are indigenous Russians. In essence, the conflict in Ukraine is resolvable by using sports to foster goodwill and camaraderie. Banning Russian Federation athletes from worldwide sporting activities can only lead to the hardening of attitudes and tendencies. When it is obvious

that sanctions against Russia won't work, it is only right to consider diplomatic options and sports can come in handily. My view is that we should take advantage of the atmosphere offered in competitive sport to seek an end to the Ukrainian quagmire. Past embargoes placed on Russia hasn't worked. Instead, it has been able to save and build its economic reserves to survive for more than 20 months. Cutting them off world sporting competitions could create splinter organizations. The options offered by sports should therefore be exploited to foster peace and harmony. In passing, I wonder why the present friends of Ukraine did not do enough to encourage her to forge unity within its borders instead of now rushing to send arms and ammunition in droves to people who now live in fear. Is this the New World Order? I believe we should use sports to promote peace not to enforce meaningless embargoes.

Five-star Spurs Hammer Newcastle to Move into Top Four PREMIER LEAGUE Tottenham Hotspur moved into the Premier League top four after a second-half blitz of goals from Matt Doherty, Son Heung-min, Emerson Royal and Steven Bergwijn fired them to an emphatic 5-1 win over Newcastle United at home on Sunday. Much of the first half was played in Newcastle territory but Spurs failed to find a way through their opponents before the away side grabbed a surprise lead in the 39th minute through Fabian Schar, who drilled home a low free-kick past Hugo Lloris. Newcastle's lead, however, lasted only four minutes when Ben Davies got ahead of his marker to meet a delightful Son cross to level the game and bring to life a dour half that had initially promised little. Spurs hit the front almost immediately after the restart when wing back Doherty scored with a diving header from a dangerous Harry Kane cross before Son doubled their advantage in the 54th minute as he finished off a sweeping team move. Newcastle made a double switch just before the hourmark, bringing on Jacob Murphy and Bruno Guimaraes, but Spurs heaped more misery on the visitors as Emerson and substitute Bergwijn added two more goals to complete the rout. Spurs are now level on 54 points with Arsenal but their north London neighbours can leapfrog them back into fourth place when they travel to Crystal Palace on Monday. Newcastle are 15th with 31 points, nine clear of the relegation zone.

Tottenham Hotspur players celebrating climbing into the Top Four of the English Premier League after a 5-1 crushing of Newcastle United...yesterday

Awesome Australia Beat England to Win Women’s World Cup Australia underlined their status as the premier international sports team on the planet by outclassing England to win the Women's World Cup. The Australians shattered records in Christchurch on their way to adding the 50over title to the T20 World Cup and Ashes crowns they already hold. Alyssa Healy crashed an astonishing 170 from 138 balls,

CRICKET the highest score in either a women's or men's World Cup final. Her partnership of 160 with Rachael Haynes and Australia's total of 356-5 are also women's final bests, the latter a record for any team against England. England, who were huge underdogs to defend the title

they won in 2017, will rue their decision to field first in perfect batting conditions. They also dropped Healy and Haynes in the same over. Faced with such a mammoth chase, England lost wickets too regularly to ever be in contention, but Nat Sciver batted with authority for a century of her own. Sciver was 148 not out when England were finally bowled

out for 285, spinners Alana King and Jess Jonassen taking three wickets apiece in Australia's 71-run win. It was a disappointing end to an England turnaround that saw them reach the final despite losing their first three games of the tournament. Meanwhile, awesome Australia were crowned world champions for the seventh time with a perfect record of nine

wins from nine matches. The suspicion was that England would need everything to go their way in order to beat an Australia side that entered the final with only one defeat in their previous 38 one-day internationals. For as much as England - and Australia - favour chasing, it seemed like a gift for Heather Knight to give away the opportunity to bat first.

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MISSILE Lekki Residents to Gov Sanwo-Olu “We view with deep concern and trepidation the less than transparent attempt at recommencing tolling activities at the Lekki-Ikoyi Link Bridge, even as matters relating to the #EndSARS protest, which led to the termination of tolling activities in the ﬁrst place, remain largely unresolved. The issue is compounded by the myriad of issues bedeviling the rationale to toll at this location” – Lekki Residents Association Chairman, Yomi Idowu, condemning the planned resumption of tolling on the bridge.

MAHMUDJEGA Dacoits, Biggs and Langalanga VIEW FROM THE GALLERY

everal PDP presidential aspirants bought nomination forms; Governors Nyesom Wike and Yahaya Bello of Rivers and Kogi states jumped into presidential race while the ruling APC’s newly elected national officers were inaugurated in Abuja. That’s a lot of political activity, but last week will instead be remembered in Nigeria’s history for the devastating train attack near Kaduna. It could well count as the most remembered train event in Nigeria since Langalanga, the disastrous event in February 1970 when a Nigeria Railways Corporation [NRC] train fell into a ravine in present day Nasarawa State, with the loss of hundreds of lives. A judicial panel of inquiry chaired by Justice Mohammed Bello probed the accident, but its cause was never fully established. Even without a commission of inquiry, Monday last week’s events are a little bit clearer. Although they have not yet claimed responsibility or posted their trademark video, security sources’ claim that the El-Rufai terrorist group Ansaru carried out the attack stands to reason. Only a day earlier, Northern Nigeria’s most important city, probably the same terrorist gang made to though second to Kano in population and attack Kaduna Airport while a plane was commerce. In the 1980s when Lagos was taxiing for take-off. This didn’t look like still the federal capital, then Information the work of local bandits who infest the Minister Tony Momoh described Kaduna Northwest and Niger states. Those ones as the “deputy capital of Nigeria.” Now are averse to risk taking; their sole motive its rail and air links are cut off and its is to make money; they have no political road links are imperiled. Three airlines have suspended service to Kaduna. The agenda of any kind. The twin airport and train attacks however rail link to Abuja will take some time to have a thinly veiled political message: to repair and passengers may not be in a embarrass the government and security hurry to board the trains again. People agencies, to send a message to elite folks who must travel to or from Kaduna must who have abandoned the highways that use the road, with their hearts in their they are no longer safe even in trains and mouths. The social media is full of daily planes, and to send shivers down the spines false alarms that bandits have blocked the of all Nigerians. The operation was also highway. Maybe it was due to trauma, because quite sophisticated, from the planting of spies on board the evening Abuja-Kaduna several strange comments emanated from train, to the choice of strike location, to the Nigeria’s leaders in the wake of the train bombing of the rail track that derailed two attack. Transportation Minister Rotimi coaches and forced the train to stop, and Amaechi said the attack could have been once on board, the terrorists went straight to prevented if his request for N3bn to install the first class coaches, with the supposedly security equipment along the rail lines had been approved. Since it is only the president richer passengers. There was also the ruthlessness of the operation, opening fire at the train from many directions, killing and wounding many people, then herding an unknown number of others into captivity. Most heart breaking of all, when the terrorists entered the first class cabin, they first took away three children. As evidence however that love, affection and responsibility are still alive and well in some sections of Nigerian society, the three kids’ 7-month pregnant mother immediately stood up and followed them into captivity, as did the father. There is a thin dividing line between banditry and terrorism but if Boko Haram, ISWAP and Ansaru plant their terrorist feet firmly in the Northwest, having recorded battlefield reverses in the Northeast, then we have got another thing coming. Before Abuja moved into the vicinity, Kaduna was

who could possibly approve or deny a minister’s request, it was dangerous finger pointing by a harassed Amaechi. He was referring to a memo he submitted to the Federal Executive Council late last year, which was turned down. The Presidency promptly responded by leaking damaging information to the media as to why the request was turned down, saying there was “conflict of interest” in the suggested contractor and that no details of the equipment were provided in Amaechi’s memo. After a hastily convened meeting with security chiefs, President Buhari “ordered the immediate conclusion of all processes for the implementation of integrated security surveillance.” Was that what Amaechi earlier asked for, is it the same contractor who will install it, have the details been obtained and has the conflict of interest been addressed? Kaduna State Governor Nasiru el-Rufa’i then waded in with a flame thrower. He said intelligence information of an impending attack on the train was received and relayed to security forces but they did not act on it. El-Rufa’i then threw the equivalent of a Russian missile at Chernobyl when he said his Northwest colleagues and himself will hire foreign mercenaries to fight bandits and terrorists. The governor’s frustration is understandable because apart from the shock train bombing, southern Kaduna State has suffered in recent weeks from a spate of killings and the sacking of whole villages and towns. But before el-Rufa’i goes to Ireland, France, Serbia or South Africa in search of mercenaries, I recommend that he should read Eddie Iroh’s old novel 48 Guns for the General. It will give him a little insight into Biafran leader Odumegwu Ojukwu’s experience with White mercenaries during the Nigerian civil war. As we speak, the terrorists who attacked the Kaduna train are holding an undetermined number of hostages. Nigeria Railway Corporation said there were 362 people aboard the train. 170 have

The kidnappers phoned some families, let them speak to their loved ones, but did not ask for ransom. This was psychological warfare of the most dreadful kind, to let the families sweat and tremble before the tortured negotiations for ransom begin. Or maybe Ansaru aims to negotiate with the government for release of its captured men or other political demands

been accounted for while 21 families have reported their loved ones as missing. That still leaves a large number of passengers unaccounted for, many of them possibly among the kidnapped ones. The kidnappers phoned some families, let them speak to their loved ones, but did not ask for ransom. This was psychological warfare of the most dreadful kind, to let the families sweat and tremble before the tortured negotiations for ransom begin. Or maybe Ansaru aims to negotiate with the government for release of its captured men or other political demands. We can post more guards on trains, increase security around airports and deploy drones. Nothing will be more effective, however, than to identify the culprits who did last week’s act, storm their den, wipe them out and free the hostages unharmed. That might sound far-fetched for our security capabilities but if I were the NSA, I will be on my way out of the country right now to get the men who can do it. German GSG 9 commandos that stormed a hijacked Lufthansa plane on the tarmac of Mogadishu airport in 1977, Israeli commandos that stormed a hijacked Air France plane at Uganda’s Entebbe airport in 1976, Britain’s Special Air Service [SAS] commandos, or even Russians if they have any veteran commandos of the Chechen war to spare from Ukraine, might all do the trick. While we are at it, we should send a team to India to find out how they stamped out the problem of dacoits that used to jump on their trains. In the 1970s and 1980s, Indian films were full of scenes of dacoits jumping unto trains from horses. As recently as 2017, a Delhi-Patna Rajdhani Express train was attacked by dacoits near Buxar district of Bihar, with the help of a coach attendant. They looted three coaches. This is cold comfort for Nigeria, but trains have been attacked in many parts of the world in the last 25 years including London, Brussels, St. Petersburg, Moscow, Madrid, Paris, New York and Tokyo, where the Aum Shinrikyo doomsday cult led by Shoko Asahara released sarin nerve gas on the subway during the morning rush hour in 1995. My only recommendation after last week’s shock event is that our security agencies should go after the attackers with the same dedication that the British police went after Ronnie Biggs after the Great Train Robbery of 1963. A Royal Mail train travelling from Glasgow to London was stormed by a gang, who hijacked the train, drove it half a mile away and unloaded 120 bags containing £2,595,997. Biggs was jailed for the robbery, escaped in 1965 and hid for 36 years in France, Australia, Panama and Brazil but the Brits kept after him until he returned to prison in 2001. Let us chase the Kaduna train attackers with the same intensity, if necessary over many Administrations and many IGP tenures until they pay for their crimes.

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