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Foreign Capital Importation Declined to $5.32bn in 2022, $1.06bn in Q4 Lagos accounted for $3.61bn, FCT $1.62bn Despite frequent foreign business trips, 27 states failed to attract any inflows James Emejo in Abuja Total capital importation into the country dropped by 20.47 per cent to $5.32 billion in 2022 compared to $6.70 billion in the preceding year,

the National Bureau of Statistics (NBS) disclosed yesterday.

Capital inflows also dropped by 8.53 per cent to $1.06 billion in the fourth quarter of last year (Q4 2022) compared to $1.15 billion

in the preceding quarter.

According to the Nigeria Capital Importation Q4 2022 report which was obtained from the NBS website, when compared to the $2.18 billion attracted in the corresponding

quarter of 2021, capital importation also fell by 51.51 per cent.

The report further showed that on annual basis, Lagos accounted for $3.61 billion of total inflows while the Federal Capital Territory

(FCT) attracted $1.62 billion.

In effect, only nine states attracted any form of foreign capital into the country in 2022.

Others included Akwa Ibom $42.52 million, Anambra $36.97

million, Ekiti $0.51 million, Katsina $0.70 million, Kogi $2 million, Ondo $0.20 million, Oyo $3 million, and Plateau $0.04 million.

Continued on page 9

Osinbajo Raises Hope of Africa Becoming First Truly Green Civilisation... Page 8 Wednesday 5 April, 2023 Vol 28. No 10220. Price: N250

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Trump Pleads Not Guilty to 34 Felony Counts after Arrest Manhattan District Attorney says thorough investigation led to former US president’s indictment

In the city that made him famous, under extraordinary courtroom security, United States’ former president, Donald Trump, yesterday, pleaded not guilty to 34 felony counts related

to payments to silence an adult film actress during his 2016 presidential campaign.

He made history as the first former or sitting US president to

be criminally charged.

According to Washington Post, the charges — falsifying business records in the first degree — were announced at an arraignment

hearing yesterday afternoon, and detailed in an indictment released immediately after.

Manhattan District Attorney Alvin Bragg was investigating reimburse-

ment payments Trump made to his then-lawyer, Michael Cohen, who during Trump’s candidacy in 2016, paid $130,000 to actress Stephanie Clifford, known professionally as

Stormy Daniels, to prevent her from disclosing an alleged sexual encounter years earlier with Trump.

Continued on page 9

Obi Kicks as FG Accuses LP Presidential Candidate, Running Mate of Treason Says allegation fictitious, malicious, campaign of calumny Lai Mohammed: Atiku, ex-Anambra gov have no pathway to presidency NCC denies leaking Obi, Oyedepo’s telephone conversation Recommends two-factor authentication to secure WhatsApp Emmanuel Addeh, Adedayo Akinwale in Abuja, David-Chyddy Eleke in Awka and Emma Okonji in Lagos The presidential candidate of Labour Party (LP), Mr. Peter Obi yesterday described that allegation of treason levelled against him and his vice presidential candidate, Yussuf Datti Baba-Ahmed by the federal government as malicious, fictitious and an apparent campaign of calumny against them.

Obi said this in a statement in reaction to the accusation of treason against him and his running mate in the just concluded presidential election by the Minister of Information and Culture, Mr. Lai Mohammed.

Speaking in Washington DC,

United States, during his official engagements with some international media organisations, Mohammed had earlier yesterday cautioned the former governor of Anambra state to desist from pushing his people to violence over the outcome of the presidential elections, insisting that neither him nor the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, have pathway to the presidency of the country.

This was just as the Nigerian Communications Commission (NCC) yesterday denied the allegations on the social media that it had been bribed by politicians to leak Obi’s telephone calls. The Continued on page 9

Ndoma-Egba: APC Escaped Same CRIMINAL CHARGES...

Faith Ticket Crisis By Whisker... Page 12 FACING Former US President Donald Trump, yesterday, in court after he was arrested and arraigned for 34-count felony charges in New York...

PHOTO: AFP-Getty Images

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

NEWS

AWARD OF ACCREDITATION/RECOGNITION CERTIFICATES TO TERTIARY INSTITUTIONS...

L-R: Registrar/Chief Executive, The Institute of Chartered Accountants of Nigeria (ICAN), Prof. Ahmed Kumshe; Vice Chancellor, Wellspring University, Benin City, Prof. Isaac Ajayi; the 58th President of ICAN, Mallam Tijjani Isa Musa; Vice Chancellor, Akwa Ibom State University, Prof. Nse Essien; and Chairman, Students’ Affairs Committee, ICAN, Chief Olugbenga Akinsulire, during the award of PHOTO: SUNDAY ADIGUN Accreditation/Recognition Certificates to tertiary institutions and training centres by ICAN in Lagos… yesterday

NERC Launches Service Charter, Insists Discos Obligated to Fix Certain Faults Within 24 Hours Lists metering, transparent billing as customers' rights Says Discos must refund customers when over-billed Emmanuel Addeh in Abuja The Nigerian Electricity Regulatory Commission (NERC) yesterday officially launched its service charter in collaboration with Service Compact (SERVICOM), insisting that Distribution Companies (Discos) are obligated to fix certain faults within 24 hours of notification by customers.

In the charter, NERC maintained that when notified of a fault leading to loss of electricity, Discos must visit the premises within 24 hours to determine the cause and rectify it.

Currently, depending on the seriousness of the problem, some communities in the country could go without power supply for weeks, months and years even after reporting to the authorities.

But in the newly-launched document, the industry regulator stated that if such outage was caused by a bad fuse, it must be replaced and reconnected within 24 hours, same for other minor equipment faults, whereas repairs must be carried out within 48 hours for other unnamed issues.

Whenever a customer makes a request to a Disco for a new

or additional connection to his premises, after filling ‘form 74’, the Disco, NERC maintained, shall take measures to fit the meter and connect the power supply within 10 working days of receiving the request.

Furthermore, where a customer reports a problem to a Disco that would suggest that the cause of the problem is the electricity meter recording incorrectly, the industry regulator pointed out that a visit must be scheduled within three days.

According to the charter, the consumer also has rights to

electricity supply in a safe and reliable manner, right to a properly installed and functional meter and right to be properly informed and educated on the electricity service being offered.

In addition, NERC explained that apart from the right to transparent electricity billing, the right of unmetered customers to be billed based on its capping estimates, and be notified ahead of disconnection of electricity service remain inalienable.

It also stated that Discos must refund customers when over-billed, noting that the customer also has a

Elumelu Joins Kamala Harris at Gender Inclusion Digital Economy Summit in Zambia The Group Chairman of the United Bank for Africa (UBA) and Heirs Holdings, Mr. Tony Elumelu, is in Zambia at the invitation of United States Vice President, Kamala Harris for a Gender Inclusion Digital Economy Summit in Zambia.

According to a statement yesterday, Elumelu joined other global leaders at the inaugural meeting of the Steering Committee of the United States Government’s initiative “Gender Inclusion in the Digital Economy” that took place on Saturday, April 1, 2023,

in Lusaka, Zambia.

It pointed out that the attendance of the Founder of Tony Elumelu Foundation (TEF), represented a further recognition of his advocacy of the transformation of Africa, through a dynamic private- public sector approach, made most recently at the US-Africa Leaders’ Summit, held in Washington D.C, hosted by President Biden in December 2022.

Elumelu welcomed the increased engagement of the US Administration with Africa, “a partnership that he has stressed should be based

on equity and mutual respect.”

“As one of Africa’s leading entrepreneurs, Mr. Elumelu sees many common values, between the entrepreneurially driven US economy and the opportunities in Africa, not least in creating the enabling environment to support Africa’s highly entrepreneurial youth.

“He is an ardent advocate of Africapitalism, his belief that Africa’s economic renaissance will be catalysed by the collaboration between public and private sectors, and that the private sector

must create social good, as well as economic wealth,” the statement added.

Africapitalism is the economic philosophy developed by Elumelu and is predicated on the belief that Africa’s private sector could and must play a leading role in the continent’s development.

It is a call-to-action for businesses to make decisions that will increase economic and social wealth and promote development in the communities and nations in which they operate.

right to file complaints and to the prompt investigation of complaints as well as right to contest any electricity bill.

“The replacement of infrastructural items like transformers, poles and other electrical equipment is strictly the responsibility of Discos and customers are not expected to pay for them,” it noted. However, it urged consumers to pay their bills promptly.

Speaking during the programme, the Minister of Power, Mr. Abubakar Aliyu, who was represented by the Director, Reform Coordination and Service Improvement Department at the ministry, Mrs Titilayo Agbeyo, said the charter was an operational tool to guide service providers on their responsibilities and service takers (customers) on their expectations.

The minister described it as a set of promises upon which citizens could expect and demand quality service as a right; and of which they can have recourse when service fails.

“The service charter therefore is crucial to the management, staff and stakeholders of this commission to continuously improve on service delivery,” he posited.

Aliyu explained that it also establishes the high standards of service that the electricity customers can expect from the power sector and provides information on how the commission can comment on

its services, including how to lodge complaints, give compliments and make suggestions.

He encouraged the commission to be customer-focused, noting that an effective implementation of the charter will improve services.

Also speaking, the Chairman of NERC, Sanusi Garba, said Nigerian consumers deserve excellent service from the utilities, saying that there are timelines within which issues must be resolved.

He restated the commitment of the commission to efficient service, vowing to abide by the principles of the federal government’s service compact.

The Commissioner, Consumer Affairs, Aisha Mahmud, in her remarks, promised that NERC will strengthen its collaboration with the SERVICOM and other stakeholders in terms of service delivery.

She pointed out that as the industry regulator, NERC will continue to keep to its mission to promote an investor-friendly sector and support an efficient market structure while encouraging the provision of reliable and affordable power supply.

National Coordinator, SERVICOM, Mrs. Nnenna Akajemeli, while speaking, congratulated the commission on the new development, stressing that through the effort of the regulator, power was gradually improving in the country.

Nigeria, Jordan Deepen Partnership NPA Retirees Appeal to AGF to Obey Supreme in Security, Other Global Issues Court Judgement, Pay their N108bn Pension Arrears Jordan leader to visit Buhari before exiting in May Deji Elumoye in Abuja

Nigeria and Hashemite Kingdom of Jordan have taken bold steps to deepen partnership in security matters and other global issues affecting the two nations.

President Muhammadu Buhari and His Majesty King Abdullah bin Al-Hussein of the Kingdom of Jordan held a telephonic conversation yesterday, with both leaders expressing satisfaction at the deepening of the Nigeria-Jordan strategic partnership in matters of

security and other global issues.

According to a press statement issued by presidential spokesperson, Mallam Garba Shehu, during the conversation, the Jordanian leader called to wish the President a happy and successful Ramadan and to especially thank him for naming the auditorium in the newly inaugurated National Counter Terrorism Center in Abuja after him.

The facility is named “King Abdullah Bin Hussein II Auditorium.” Many important issues

were also discussed by the two leaders regarding security.

Nigeria under President Buhari has collaborated and shared experiences with Jordan in tackling terrorism and its spread across West Africa, and has gained significantly from the Middle Eastern kingdom by way of support for pre-emptive measures to neutralise activities of insurgents in the sub-region.

King Abdullah indicated his wish to visit Nigeria before President Buhari leaves office.

Wale Igbintade

Retirees of the Nigerian Port Authority (NPA) have sent a distress signal to the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, lamenting that they are currently living in abject poverty and untold hardship.

Speaking through their chairman, Engr. Gabriel Shotunde, the retirees pleaded with the Attorney General of the Federation to comply with the Supreme Court judgement which had authorised payment of their pension and gratuity to the tune of about N108 billion.

The retirees who bowed out of service in 1991, urged the minister

to save their soul, saying they were living in abject poverty, untold hardship and rising death of their members who lacked funds to manage their health conditions.

Shotunde, while speaking to newsmen, said the Supreme Court judgment in a suit number SC/190/2003 dated May 11, 2007, had affirmed the decision of the Lagos State High Court in suit number LD/1827/92, that the plaintiff who served the NPA up to 5 years were entitled to gratuity of one year total emoluments.

He said "The Supreme Court judgement also held that the plaintiff who served above 10 years are entitled to pension and

redundancy benefit under the Pension Act 1990.

"Despite getting the landmark judgement from the apex court, the Senate Committee on Establishment and Public Service and the AttorneyGeneral before Malami, have failed to comply with the judgement and paid their benefits.

"Some cabinet members of the NPA, who see themselves above the law are also truncating the final decision of the apex court and have made it difficult for us to get our benefits after serving meritoriously."

Shotunde further said the NPA's consistent claim of compliance with the Supreme Court judgement was full of contradictions and deceit

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NEWS

DIGITAL INNOVATION AND WOMEN HEALTH ADVOCACY...

L-R: Executive secretary, Ibidunni Ighodalo Foundation, Grace Ogunniyi: Vice Principal Academics, Queens College, Mrs. Ayoka Catherine Olabimpe; Chairman Ibidunni Ighodalo Foundation, Pastor Ituah Ighodalo; and the Keynote speaker, Dr. Mrs. Haleeman Olalere at Ibidunni Ighodalo Foundation on Digital Innovation and Women Health Advocacy, held at Queens College in Lagos…. yesterday

Alleged $200m Bribe: Dispute Over Service of Court Documents Stalls Shasore's Trial

Wale Igbintade and Steven Aya

Hearing in the trial of a former Attorney-General of Lagos State, Olasupo Shasore, over alleged $200,000 corrupt offers before a Lagos State Special Offences Court was stalled yesterday due to disagreement over service of documents from the prosecution to the defence.

The Economic and Financial Crimes Commission (EFCC) had on October 21, 2022, arraigned the former Attorney-General on a two-count charge bordering on corrupt offers.

He had pleaded not guilty to the charges.

At the last date of the trial, Justice Mojisola Dada had adjourned the case after the lead defence counsel, Chijioke Okoli, sought for the adjournment of the case pending the sorting out of the issue of the disputed documents.

Okoli told the court that defence had filed an application dated December 2, to seek for an adjournment.

He added that there was need for an adjournment because the defence team needed more documents from the prosecution to defend their case.

The EFCC counsel, Bala Sanga, had informed the court that he was ready to proceed with trial as that was the business of the day.

Justice Dada however, granted the prayer of the defence and

adjourned the matter till today.

However, when the matter came up for hearing yesterday, Shasore's counsel, Muiz Banire, informed the court that the prosecutor was yet to oblige them with the documents they requested for at the last adjourned date.

He noted that the defence

Nobel Laureate, Prof. Wole Soyinka, has condemned the Channels Television for inaccurate reporting, tasking the media in general on social responsibility.

He made this known in a press statement, where he noted that the report was selective in relaying his comments, blotting out his condemnation of the violence against non-indigenes of Lagos State.

He stated, "When remarks are taken out of context, spliced into a new one, provided a sensational headline, distortions become stamped on public receptivity, and the central intent of one’s remarks becomes completely unrecognisable.

"I denounced the menacing utterances of a vice-presidential aspirant as unbecoming. It was a gladiatorial challenge directed at the judiciary and, by implication, the rest of the democratic polity."

Soyinka also described the

However, the judge who also confirmed that the proof of service was not in the court file, urged the prosecutor to file an affidavit of service.

Subsequently, the matter was adjourned till June 20, for trial.

According to the EFCC, Shasore allegedly gave $100,000 to Mrs.

Olufolakemi Adelore (then Director, Legal, Federal Ministry of Petroleum Resources) on account of the role she played in the arbitral proceedings instituted by Process and Industrial Developments Ltd (P&ID) against the Federal Ministry of Petroleum Resources.

The prosecution also submitted

that the defendant allegedly gave another $100,000 to Mr. Ikechukwu Oguine (Secretary to the Corporation and Coordinator, Legal Services, (NNPC) on account of the role he played in the arbitral proceedings instituted by P&ID against the Federal Ministry of Petroleum Resources.

GIABA Engages BDC Operators in Fight against Money Laundering, Terrorism Financing Says sector with over $469,734,000.00 asset base most vulnerable Alex Enumah in Abuja The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has engaged foreign exchange Bureau/ Bureau De Change (BDC) operators in the fight against money laundering and terrorism financing in the country and by extension the West African sub-region.

GIABA at a National Workshop on Enhancing Anti Money Laundering (AML) and Counter-Financing of Terrorism (CFT) Compliance

by Foreign Exchange Bureaus, observed that the sector which it described as the fastest growing in

Soyinka Knocks Channels for Incomplete Reporting Yinka Olatunbosun

would need those documents to challenge the jurisdiction of the court to entertain the charges.

In a counter response, the EFCC Counsel, Sanga, told the court that they had served the defence with the requested document, while showing the proof of service to the court.

incomplete report as "a betrayal of trust," adding: "Throughout the interview, I continued to stress that the final word had yet to be pronounced on the elections. That omission renders the full message tendentious!"

He remarked that he was not partisan and would not condone any sort of misrepresentation, and therefore urged Channels to rerun the entire interview in order to reflect the actual conversation that was recorded.

"I hope Channels plans to provide the entire interview. After months of having to endure total fabrications of partisan utterances that are strange to me, even in their very choice of words, it is most aggravating to have this, the first I have conceded in my authenticated person, casually subjected to selective editing and dissemination. Let us play by the rules of mutual obligation, or else abandon public discourse altogether."

the West African financial services industry in terms of the numbers of institutions that have sprouted in recent years, was the most vulnerable to money laundering.

The anti-money laundering body disclosed that a Mutual Evaluation Report of Nigeria revealed that the country has 4,798 registered forex dealers with an asset base of $469,734,000.00, adding that the 2017 National Risk Assessment (NRA) of the country identified this sector as the most vulnerable to money laundering.

Speaking at the opening ceremony, GIABA's Director General, Mr. Edwin Harris, stated that the BDCs play important roles in providing financial services and constitute one of the drivers of economic growth in Nigeria and West Africa as a whole.

"However, the nature of services they provide, make them to be vulnerable to abuse or risks of money laundering/ terrorist financing. The 2017 National Risk Assessment (NRA) of Nigeria identified this sector as the most vulnerable to money laundering.

"The NRA identified several vulnerabilities in relation to the foreign exchange bureaus/BDCs, including limited awareness of ML/ TF risks, poor implementation of AML/CFT preventive measures and weak supervision / monitoring for AML/CFT compliance.

"In addition, the NRA noted concerns about the preponderance of unlicensed BDCs (black market operators), and the fact that a number of the dealings are cash-based, which constitute serious ML/TF risk", the DG said.

While calling for cooperation and collaboration from stakeholders to improve compliance of the currency exchange sector with acceptable international AML/ CFT preventive measures, he stressed that GIABA would continue to

provide technical support to its member states, including Nigeria to protect their national economies and financial systems against ML/ TF and PF. He explained that the primary objective of the workshop, was to provide a platform for participants to share experiences and foster cooperation and collaboration for effective implementation of AML/ CFT preventive measures in the currency exchange sector.

In a goodwill message, the National President of the Association

of Bureaux de Change Operators in Nigeria (ABCON), Alhaji Aminu Gwadabe, said the body was not unaware of the increasing threat posed by money laundering and terrorism financing in the system.

To this end, he said, "it is incumbent upon all stakeholders to work together towards addressing this challenge", adding that as key players in the foreign exchange bureau sector, "we have a responsibility to ensure that our operations are transparent, accountable, and compliant with international best

practices on AML/CFT." While stating that the workshop presented an opportunity for all to share experiences, learn from one another and collaborate towards effective implementation of AML/ CFT preventive measures in the sector, he urged participants to take full advantage of the platform to deepen knowledge and understanding of AML/CFT issues, and to work together towards a safer and more secure financial system for the country and the region at large.

Buhari Writes House, Seeks Passage of Data Protection, Police Training Bills Requests approval of N9.6bn promissory notes to Plateau, Borno Udora Orizu in Abuja President Muhammadu Buhari has written to the House of Representatives, urging it to consider and approve the Nigerian Data Protection Bill and police force college training schools and institutions establishment Bill.

Buhari also requested the green chamber to approve the reimbursement by issuing promissory notes to Plateau and Borno States, the sums of N6.6 billion and N3.8 billion, respectively.

Buhari's requests were contained in separate letters addressed to the Speaker, Hon. Femi Gbajabiamila at plenary yesteday.

Reading the letters, the Deputy Speaker, Hon. Idris Wase, who presides over the plenary session, explained that the data protection bill sought to provide a legal framework for the protection of personal information and establish a data protection commission for the regulation of processing of personal

information.

For the police force college training schools and institutions establishment Bill, the President, in the letter, said the bill sought to provide a comprehensive institutional framework for the establishment of the Nigerian police force college for the provision of specialised training to officers in law enforcement to enhance their performance.

On the other hand, Buhari said the reimbursement by issuing promissory notes to Plateau and Borno, the sums of N6.6 billion and N3.8 billion, for federal roads executed by the states, has been approved by the Federal Executive Council, following the recommendation of an inter-ministerial committee, which reviewed the request.

He pleaded with the lawmakers for expeditious consideration and approval to the three requests.

The letter read in part: "Request for the resolutions of the National Assembly for the reimbursement

of N6.6 billion to Plateau State government and the sum of N3.8 billion to Borno State government through the issuance of promissory notes for federal roads executed by the states.

“The house may wish to know that the approval by the Federal Executive Council, was subsequent to the recommendation of an inter-ministerial committee, which reviewed the request for the reimbursement by the state government for the projects.

"The committee reviewed the documents submitted and carried out inspections of the projects before making recommendations to FEC. Plateau State government, N6,601,769,470 and Borno State N3,084,769,39, total N9,689,538,864.

“I request the House through resolutions to approve the reimbursement. I look forward to your expeditious consideration and approval. Please, accept Rt. Hon. Speaker, the assurance of my highest regards."

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GLAD TO SEE YOU AGAIN...

President Muhammadu Buhari (left) receiving Yobe State Governor, Mai Mala Buni at the Presidential Villa, Abuja… yesterday.

PHOTO: GODWIN OMOIGUI

CONGRATULATIONS GOVERNOR ABIODUN...

Prince Dapo Abiodun (right), presenting his certificate of return as governor-elect of Ogun State to President Muhammadu Buhari at the Presidential Villa in Abuja... yesterday

Osinbajo Raises Hope of Africa Becoming First Truly Green Civilisation Directs NSIAto develop Nigeria carbon market activation plan Authority, Vitol sign $50m carbon avoidance, removal initiative in Nigeria Deji Elumoye in Abuja The Vice President, Prof. Yemi Osinbajo has declared that with Africa’s status as the lowest emitters of carbon coupled with its young and vibrant population which is capable of effectively deploying green manufacturing on a large scale, the continent could become the first truly green civilisation.

Osinbajo spoke yesterday, at the Banquet Hall of the State House, Abuja, at the official signing ceremony of the Carbon Vista Agreement – an initiative that aims to support Nigeria in meeting its net-zero targets by investing in carbon avoidance and removal projects.

Carbon Vista is a joint venture investment company established by the Nigeria Sovereign Investment Authority (NSIA) and Vitol (a multinational energy and commodities company) – committing an initial sum of $50 million for projects such as climate-smart agriculture, green industrial technologies, waste management, etc., cutting across several sectors, including agriculture, energy, and manufacturing.

The vice president stressed that Africa could become the first truly green civilisation – the first civilisation on earth to use renewable fuel for purposes of a transformative economic journey.

Pondering over how that could be realised, Osinbajo said: "First

of all, we are the lowest emitters today, and if we are going to develop our industry for the rest of the world, we can start from where we are today, we don’t have to start from where the rest of the world is, especially the global north.

“If we are the least emitters and able to use green energy effectively, we are able to use the young population that we have, we are able to effectively deploy green manufacturing on a scale that would be required to become the global green factory and power of the world, we can indeed do something revolutionary and different.

“This is why what we are seeing today, this sort of collaboration

between NSIA and Vitol is an important one because the pipeline of projects they are talking about are the sorts of projects that will make us a truly green economy and can cause us to realize that dream we are talking about."

The vice president further stated that Africa’s ambitions were also closely related to the talk about climate justice in the energy transition debate, stressing that the transition must be a fair one, and fossil fuel was still required for several purposes.

“We must also agree that there is a new way by which Nigeria and Africa can benefit immensely from what is coming to the continent,” he added.

He also commended the part-

Zulum in Malam-Fatori, Approves Armoured Carriers, Patrol Vehicles for Soldiers Targets May for resettlement Borno State Governor, Babagana Umara Zulum, yesterday, paid an assessment visit to Malam-Fatori, a former Boko Haram stronghold on the shores of the Lake Chad, during which he approved armoured carriers and patrol vehicles, among others, for the troops.

He also disclosed that his purpose was to see for himself the clearance process in the town and to also offer support to the military ahead of his target for safe and voluntary return of refugees from to Malam-Fatori community, targeting May. Malam-Fatori is headquarters of Abadam Local Government Area (LGA) in northern Borno and is yet to be fully reoccupied by residents since Boko Haram violently took over the town around 2014 and forced residents to flee to Niger Republic. The military dislodged the insurgents but it was not clear in what year.

Zulum had visited Malam-Fatori a couple of times, first to commence reconstruction and at other times, to supervise ongoing works.

In his latest visit, the governor held interactions with troops at 68 battalion of the Nigerian Army in charge of the town, who also

led the fight against Boko Haram insurgents in the area.

Received by the commanding officer of 68 battalion, Malam-Fatori, Col. A. Onyeukwu, the governor announced his approval for the soon to be released armoured personnel carriers (APCs), patrol vehicles and some security gadgets for soldiers.

The support, Zulum noted, was to strengthen the military’s capacity to increase their effectiveness in the fight against insurgents,

and therefore, commended the officers and men of 68 Battalion, Malam-Fatori, for their bravery and professionalism in discharging their duties.

On resettling the refugees, who are currently in neighboring Bosso, Tumur and Diffa, all in the Republic of Niger, the governor hinted that he was targeting May for resettlement of the refugees.

His words: “My main objective here is to see for myself the clearance exercise and discuss how we

can return people. The town was displaced due to flood last year.

We want the people to return next month (May) for normal activities to return to this part of the state, insha’Allah.

“We will give all the necessary support to the Nigerian military to make sure that this objective is achieved, insha’Allah. We call on our people to be resilient and give maximum cooperation to the security operatives working to restore normalcy.”

nership between NSIA, Vitol and other partners, noting that, “this sort of collaboration is only the beginning, we have to do a lot more and demonstrate that we are capable of being not just a victim in the climate change story, but an important catalyst and innovator for making our world greener and introducing to our own people, a prosperous economy based on the green initiatives that we have.”

Determined that Nigeria plays a global role in the voluntary carbon markets, Osinbajo who is co-chair of the ACMI Steering Committee directed the NSIA to play an active role building the voluntary carbon market.

According to him, “the importance of an enabling environment is crucial for Nigeria to play a global role in voluntary carbon markets.

This is why I would like NSIA to take the lead in developing the first Nigeria Carbon Market Activation plan and look forward to engagement on the plan.”

He expressed hope that the Carbon Vista Fund will be bigger adding that more investments are expected from other stakeholders.

According to him, “this is such an incredible opportunity and we must not leave it to just be a $50 million fund.”

Also speaking, Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, commended the initiative, noting that Carbon Vista aligns with the several key priorities of the Federal Government including the quest to grow the country’s Foreign Direct Investment stock, develop a new market that enhances the economy and maximise the country’s

INEC Deliberately Rigged 2023 General Election, Amadi Alleges Chuks Okocha in Abuja Associate Professor and Director, Abuja School of Social and Political Thoughts, Dr. Sam Amadi, yesterday, said the Independent National Electoral Commission (INEC) deliberately decided to compromise the 2023 general election.

Amadi, who was a guest speaker/lecturer at the second edition of New National Star Breakfast Meeting which held at Top Rank Galaxy Abuja, with the

topic: “2023 General Election: A PostMortem”, lamented that the electoral umpire was provided with all it needed to conduct a very transparent election.

He said despite the early warning and red flags raised by the Civil Society, INEC continued to reassure Nigerians that it would conduct the most credible election in the history of the country only to switch off its server, when it mattered most.

He lamented that the electoral umpire seemed to have abdicated its responsibility to the judiciary,

adding that elections were supposed to have less judicial interventions as it is the people that were supposed to elect leaders through the ballot papers and not through judicial pronouncements.

“INEC has destroyed the safeguards of the elections. INEC has capacity to improve on its performance 80 per cent, INEC deliberately chose to run a very flawed election. It is not technology, it is not logistic problem, it is a deliberate plan to rig the election.

The biggest weakling in this elec-

tion is INEC not politicians. I was shouting that INEC may betray everybody, I had intelligence and I know that ultimately, INEC will fail and INEC failed.

“In some state, the result in the IREV is different from the declared result and INEC will issue you with Certificate of Return,” he said, adding that it was only in Nigeria that people aspire into political offices to get wealth, hence politicians employ all sorts of dangerous measures to grab political power.

abundant natural resources.

"These priorities are crucial to driving sustainable growth and development and also Carbon Vista’s commitment to these goals is commendable,” she added.

On his part, the Managing Director and CEO of NSIA, Mr. Aminu Umar-Sadiq, thanked the vice president for his exceptional leadership in spearheading Nigeria’s Energy Transition ambitions and for hosting the ceremony which officially launched the agency’s newest investment vehicle in the environmental sector.

Commenting on the Carbon Vista initiative, Umar-Sadiq said, “it aims to support Nigeria in meeting its net-zero targets by investing in carbon avoidance and removal projects in Nigeria, that deliver significant socioeconomic benefits to Nigerians and promote the United Nations (UN) Sustainable Development Goals.”

On the partnership with Vitol, the NSIA MD said both organisations, “have committed an initial sum of US$50 million to Carbon Vista for projects such as climatesmart agriculture, green industrial technologies, waste management, etc., cutting across several sectors, including agriculture, energy, and manufacturing.

“Over the next few months, we will roll out projects to set the standard for Environmental, Social, and Governance (ESG) investment in Nigeria. These projects will be carefully selected, partnering with local institutions that have proven track records of successfully delivering high-quality projects.”

Making reference to other partnerships for a smoother energy transition in Nigeria, Umar-Sadiq noted that, “beyond Carbon Vista, NSIA is working closely with the National Council on Climate Change, as well as the Africa Carbon Market Initiative, to support in developing the carbon market both on a national and continental level thus promoting sustainable investments by incentivising projects that reduce Green House Gas, GHG emissions.

“These collaborations will facilitate the development and integration of Nigeria's carbon market with the broader African carbon market, thus creating efficient carbon trading systems and unlocking the economic potential of sustainable development in Africa.”

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BON Urges Lai Mohammed to Curb NBC’s Excesses Warns that regulator becoming agent of media suppression Olawale Ajimotokan in Abuja The Broadcasters Association of Nigeria (BON) has written the Minister of Information and Culture, Alhaji Lai Mohammed, asking him to urgently call the National Broadcasting Commission (NBC) to order over the flagrant violation of the Nigerian Broadcasting Code.

The letter, with reference ON/G/53/Vol.6/119, dated April 3, 2023, was addressed to the minister by the Executive Secretary, BON, Dr. Yemisi Bamgbose.

In a separate letter it addressed on the same day to the Director General, NBC, Malam Balarabe Ilelah, BON warned the NBC that it may lose its credibility as an

unbiased regulator because it was gradually becoming an agent of media suppression.

BON also accused the NBC of deliberately refusing to follow its rules as stipulated in the code on investigation of infractions as well as imposition of fines on broadcast houses on alleged infractions. It described the attitude of the NBC towards broadcast stations in recent past as not only arbitrary but one that smacks of high handedness which is almost suffocating the broadcast media in the country It alleged that the Commission refused to follow its rules as stipulated in the code on investigation of infractions as well as imposition of fines on broadcast houses on alleged infractions.

“Section 14.3.1(a) (b) (c) (d) stipulates how to hand complaints.

Section 15.3.1 (a) (b) (c) stipulates categories of fines and what constitute infractions in each category.

“In the recent times, NBC provides no opportunity to the broadcaster to see the complaints against it not to talk of allowing any form of explanation nor following due process at arriving judgements.

“This was the situation of all multiple allegations of " severe" infractions levied against Channels Television, Daar Communications, Arise TV and Daily Trust Television among many others,” BON said.

It faulted the NBC for imposing a N5 million fine on Channels Television on alleged "severe "

infraction committed during a live interview programme titled, ‘Politics Today,’ which featured Mr. Datti Baba Ahmed, the Vice Presidential candidate of Labour Party and anchored by Mr. Seun Okinbaloye on March 22, 2023.

It said the alleged breach, which warranted the fine, was never substantiated nor stated the area of code violated by the station.

“We found it very absurd that, NBC as a regulator, could on a petition from a campaign organisation of a political party imposed illegal fines on broadcast station without employing all avenues to investigate the complaint nor gave room for defence from the station so accused,” Bamgbose wrote.

She regretted that arising from

the infraction broadcast stations, have now lost trust of the professional judgement of NBC when it comes to allegations of infractions and imposition of fines.

While reiterating it was not averse to sanctioning of erring stations as jointly agreed by all stakeholders, BON appealed to Mohammed as the supervising minister, to urgently call the NBC to order in other to avoid total decimation of the hitherto respected regulatory body.

In the separate letter to Ilelah, that was also signed by Bamgbose, BON expressed worry about the declining trust of stakeholders in the independence of the highly revered NBC accentuated by developments in the Nigeria broadcast industry in

recent times that have created the impression that the Commission is gradually losing its credibility and retrogressively acting as an agent of media repression in the country.

“The perception of the public is that radio and television stations in Nigeria are currently under siege.

We dare say that imposition of fines on Channels Television and many other cases in the recent past are not only arbitrary but smacks of high handedness which is already suffocating the broadcast media in the country.

“There are reasons to conclude that NBC is being influenced in its decisions to the detriment of the industry which it is supposed to nurture and grow.

them as malicious, fictitious and an apparent campaign of calumny against his person.

In a release made available to journalists, Obi said he was not perturbed by the minister’s reckless use of the word 'treason' because, as far as he (Obi) was concerned, he had taken the legal route towards the recovery of his mandate and has remained committed to that.

“Any person 'seeing' treason in a clear legal process should explain to Nigerians how opting for the tribunal by myself and my Deputy amounts to treason,” Obi argued.

He added: “In the past few days, I've observed various campaigns of calumny directed at my person, the latest being allegations attributed to the Information Minister, Lai Mohammed, in Washington DC. It is most unfortunate that these consistent efforts to portray me in a manner, quite contrary to what I am and my core values, are coming from such high quarters.

“Minister Lai accusing me of stoking the fire of insurrection is totally fictitious and malicious. I have never advocated or encouraged anyone to undermine the Nigerian state; I've never sponsored or preached any action against the Nigerian state,” he stressed.

Obi said it was utterly perplexing that a minister would be busy travelling round the world, telling Nigerians that the purpose was to tell the world the true story of the

Nigerian election.

He described the move as laughable, against the background of the fact that most of those countries sent their people to monitor the election and had all received reports from the monitors, as well as from their embassies.

“Between Lai Mohammed and their monitors/embassies, who would these countries believe?” he asked.

He further said that such reckless behaviour, sponsored with tax payers’ money, was among the reasons those countries often do not take Nigeria seriously.

“The billions spent on those meaningless trips would be enough to fix several dilapidated schools in the country,” Obi added.

While urging Nigerians to always remain law-abiding and hopeful for the coming of the ‘New Nigeria', Obi restated his steadfast inclination to maintaining the peace at all times.

“I'm on record, as always, advocating peace and issue-based campaign, not a campaign based on ethnicity or religion. I'm committed to due process and presently seeking redress in court. I urge those engaged in this ‘demarketing’ process to stop presenting Nigeria in such bad light.

“Our future generations deserve a new Nigeria where they can live a secure and decent life, like their counterparts in other climes. And

OBI KICKS AS FG ACCUSES LP PRESIDENTIAL CANDIDATE, RUNNING MATE OF TREASON clarification by the NCC followed the allegation that a telephone conversation between Obi and the General Overseer of the Winners Chapel, Bishop David Oyedepo, was recently leaked.

On same day, the former Deputy National Publicity Secretary of the All Progressives Congress (APC), Timi Frank, alleged that the Directorate of State Security Service (DSS) has since deviated from its core mandate in the last 10 years by becoming a willing tool to the government in power Mohammed accused Obi of committing treason and inciting his supporters via his recent public utterances.

The minister also described Obi as a desperate politician.

However, THISDAY's recollection of recent events before and after the election does not support the allegation of incitement against Obi. Mohammed did not also mention the particular inciting remark made by the LP presidential candidate.

While his supporters are perceived to be young irascible Nigerians, Obi in his public appearances has repeatedly called for calm while insisting that the law courts must be allowed to decide the election matter.

In March, Obi had urged his supporters against protesting on court premises when the presidential election tribunal commences.

“As we go about seeking redress for our stolen mandate, I plead with ‘OBIdients’ to respect the sanctity of the court premises and give our legal team the space and peaceful environment to carry out their duties.

“The court premises is not and should not be turned into a rally ground. I urge the Obidients to go about their businesses peacefully,” he cautioned.

Also last month, Obi had promised that he would not endanger the relative peace existing in Nigeria while challenging the results of the February 25 presidential election, while reacting to a viral statement in which he was alleged to have said that he never lost an election and that he would fight and “bleed to death until” his mandate was restored. He, however, denied ever saying so.

Obi had also appealed to members of the “Obidient” family and all men and women of goodwill to remain calm and prayerful, described the allegation as not only false, but also mischievous, misleading and out of character.

“I have worked through similar paths in the past and was successful.

I shall follow the same path without endangering the relative peace in the country, which is actually what those election riggers are striving desperately to upset,” Obi said through his Media Adviser, Mr. Valentine Obienyem.

But the News Agency of Nigeria (NAN) quoted Lai Mohammed as having said it was wrong for Obi in one breathe to seek redress in court over the outcome of the polls and in another breathe to incite people to violence.

Mohammed was in Washington to engage with international media organisations and Think-tanks on the just-concluded 2023 polls and had so far engaged with the Washington Post, Voice of America, Associated Press and Foreign Policy Magazine during the tour.

“Obi and his Vice, Datti Ahmed cannot be threatening Nigerians that if the president-elect, Bola Tinubu of the All Progressives Congress (APC) is sworn-in on May 29, it will be the end of democracy in Nigeria.

FOREIGN CAPITAL IMPORTATION DECLINED TO $5.32BN IN 2022, $1.06BN IN Q4 Further analysis of the report revealed that 27 states failed to attract any dollar as foreign capital inflow throughout the year despite the penchant of state chief executives to travel abroad in search of foreign investors.

The states included Abia, Adamawa, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, and Edo. Others are Gombe, Imo, Jigawa, Kaduna, Kano, Kebbi, and Kwara.

Others were Nasarawa, Niger, Ogun, Osun, Rivers, Sokoto, Taraba, Yobe, Zamfara, and Enugu.

However, the largest capital inflow for Q4 was received from the other investment type which accounted for $691.23 million or 65.17 per cent of inflows during the review period.

This was followed by portfolio investment which amounted to $285.26 million or 26.89 per cent as well as Foreign Direct Investment (FDI) which stood at $84.23 million or 7.94 per cent of total receipts.

Similarly, when disaggregated by sectors, capital importation into the production sector recorded the highest inflow of $392.54 million, representing 37.01 per cent of total capital imported in Q4.

According to the statistical agency, this was followed by capital imported into the banking sector, valued at $255.45 million, representing 24.08 per cent, and telecoms with $168.27 million or 15.86 per cent.

The United Kingdom (UK) ranked top with $455.24 million, accounting for 42.92 per cent of total inflows in the review period while the Republic of South Africa and the United Arab Emirates accounted for $119.31 million or 11.25 per cent and $116.82 million or 11.01 per cent respectively.

However, by destination of investment, Lagos State maintained the top spot with $600.54 million, accounting for 56.62 per cent of total capital investment in the country while the Federal Capital Territory (FCT) attracted $424.50 million representing 40.02 per cent of inflows.

Meanwhile, capital importation by banks showed that Citibank Nigeria Limited ranked top with $308.72 million (29.10 per cent), Standard Chartered Bank Nigeria Limited accounted for $232.45 million (21.91 per cent) and Rand Merchant Bank with $102.00 (9.62 per cent).

“This is treason. You cannot be inviting insurrection, and this is what they are doing. Obi’s statement is that of a desperate person, he is not the democrat that he claims to be.

A democrat should not believe in democracy only when he wins the election,” Mohammed said.

The minister added that although they were challenging the election results, there was no pathway to victory for either Obi or Atiku of the PDP. According to the minister, both Obi and Atiku failed to meet the constitutional requirements to be declared as president.

He added: “The constitution has stringent criteria for anybody who wants to be president of the country. Not only must he have the plurality of votes cast in an election, he must also have scored one-quarter of votes cast in at least 25 states.

“Only the president-elect met the criteria by scoring 8.79 million votes and having one-quarter of all the vote cast in 29 states of the federation.”

The minister said Atiku who came second with 6.9 million votes was only able to make one-quarter of the votes cast in 21 states, maintaining that Obi came third with 5.8 million votes, but won only one-quarter of votes cast in 15 states.

“You cannot win an election in a poll where you came to a distant third position and failed to meet constitutional requirements. Peter

Obi, while complaining of fraud has not disowned his victory in Lagos,” the minister stressed.

Speaking further on his mission to the US, the minister said he was there to correct the negative narrative being promoted by those he called naysayers and opposition on the election.

The government spokesman said the opposition, having lost in the election was alleging fraud, calling for its cancellation and constitution of an interim government.

“We have come here to balance that skewed narrative and to tell the world unambiguously that the just-concluded general elections in Nigeria were the fairest, most transparent and authentic in the history of Nigeria.

“The election is the fairest and credible because of the introduction of the Bimodal Voters Verification System (BVAS) which I regard as a game changer. BVAS technology has helped to weed out ghost and illegal voters, eliminate multiple voting and return sanity to the elections,” he noted.

Quoting from the report by the Independent National Electoral Commission (INEC), the minister said that BVAS, during the polls, worked 97 per cent and added unprecedented credibility to the exercise.

Meanwhile, Obi in a reaction, said that he was saddened by the minister’s comments, describing

Continued on page 44

TRUMP PLEADS NOT GUILTY TO 34 FELONY COUNTS AFTER ARREST Trump denied the sexual encounter, which Daniels said occurred years before the campaign.

Assistant Manhattan district attorney Chris Connolly told the court that Trump falsified business records in order to undermine the integrity of the 2016 election, disguised false payments in violation of election laws and worked with others to suppress damaging information.

He said Trump’s lawyer, presumably Cohen, paid Daniels for the purpose of avoiding negative attention, and that Trump reimbursed Cohen in monthly payments afterward, disguising those payments and also disguising them in tax records. The intent to further another crime is a felony under New York law.

Connolly did not ask for a gag order at the arraignment but did ask for New York Supreme Court Justice Juan Merchan to address recent public statements and what he called threatening communications from Trump, including a social media post two weeks ago in which the former president warned of potential "death and destruction” if he was charged in the case.

Trump, for four years, one of the most powerful people in the world, left his penthouse at Trump Tower in midtown Manhattan in a private motorcade early Tuesday afternoon, accompanied by New York City police vehicles. The procession arrived at the courthouse about 14 minutes later, and Trump pumped his fist to supporters before entering the building to be taken into custody and fingerprinted.

Around 2:30 p.m., television news camera captured an unsmiling

Trump — in his trademark blue suit and red necktie, but now a criminal defendant — entering the courtroom on the 15th floor for his arraignment.

Trump was flanked at the defendant’s table by four of his attorneys: Todd Blanche, Susan Necheles, Joe Tacopina and Boris Epshteyn.

The former president adjusted his suit jacket when those present were asked to stand as Merchan entered.

As the hearing ended, Trump stood up at the defense table and again adjusted his blazer. He looked around the courtroom and glared for a few seconds at Manhattan District Attorney Alvin Bragg, who was seated in the front row. Trump then departed in his motorcade almost immediately.

The prosecution of a former president sets up an extraordinary test for the judicial system amid a viciously partisan political environment: Trump, who is running for the 2024 Republican presidential nomination and leading in most polls, already has verbally attacked Merchan and Bragg (D), calling the case a politically motivated “witch hunt.”

Trump, 76, who gained celebrity as a New York-based real estate and reality television mogul before launching his 2016 campaign, has denied any wrongdoing. Aides had said Trump would make remarks to the media Tuesday evening at his Mar-a-Lago home and private club in south Florida, where he has spent most of his post-presidency.

On March 30, Donald Trump became the first former president

in US history to be charged with a crime. The unprecedented case would test the judicial system and have far-reaching implications across US politics.

He was charged with 34 felony counts of falsifying business records in the first degree. The case involves Trump’s alleged involvement with hush-money payments to adult-film actress Stormy Daniels during the 2016 presidential campaign. Trump has pleaded not guilty to all charges.

There are multiple ongoing investigations involving Trump, including an investigation of classified documents found at Mar-a-Lago; a criminal probe by the Justice Department of the Jan. 6 insurrection; an investigation into the Georgia election results; and the lawsuit over Trump’s business practices in New York.

Meanwhile, Manhattan District Attorney, Alvin Bragg told reporters after the arraignment of Trump that a "thorough investigation" led to his office's decision to charge Trump with 34 felony counts of falsifying business records.

"This is the business capital of the world," Bragg said about New York City. "We regularly do cases involving false business statements.

The bedrock of the basis for business integrity and a well-functioning business marketplace is accurate record-keeping."

The charges were announced after Bragg conducted a grand jury investigation related to a $130,000 payment to adult film star Stormy Daniels made by Trump's former attorney and "fixer" Michael Cohen in the days before the 2016 presidential election.

At a news conference, Bragg alleged that Trump "repeatedly made false statements on New York business records" and "caused others to make false statements."

"Why did Donald Trump repeatedly make these false statements?"

Bragg said. "The evidence will show he did so to cover up crimes relating to the 2016 election."

Bragg accused Trump of "paying Mr. Cohen for fictitious legal services in 2017 to cover up actual crime committed the prior year."

To pay Cohen back, "they planned to mischaracterize the repayments to Mr. Cohen as income to the New York State tax authorities," Bragg said.

In addition to the payment made to Daniels, the indictment also detailed an alleged "catch and kill" scheme by Trump, Cohen and American Media Inc., which "agreed to identify and suppress negative stories about him," CBSNEWS reported.

Both Cohen and American Media, Inc., have "admitted to committing illegal conduct in connection with the scheme," according to court documents.

In August 2018, AMI, the owner and publisher of magazines and supermarket tabloids including the National Enquirer, "admitted in a non-prosecution agreement that it made a payment to a source of a story to ensure that the source 'did not publicize damaging allegations' about the Defendant 'before the 2016 presidential election and thereby influence that election,'" according to a statement of facts filed by prosecutors along with the indictment.

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LOKO-OWETO BRIDGE READY FOR INAUGURATION...

L-R: Minister of Works and Housing, Mr Babatunde Fashola, SAN; Director Highways, North Central Zone, Bola Aganaba; Federal Controller of Works, Nasarawa State, Idah Daikwo and Technical Manager, Gitto Construzioni General Nigeria Ltd, Ravi Sankar and others during the inspection of Section II of Nasarawa-Loko Road and the Loko-Oweto Bridge across the River Benue in Nasarawa and Benue States... yesterday

Ndoma-Egba: APC Escaped Same Faith Ticket Crisis By Whisker Wants Muslim senators to drop Senate President bid Chuks Okocha in Abuja A former leader of the Senate, Victor Ndoma-Egba, yesterday, claimed the All Progressives Congress (APC) managed to escape with the same ticket brouhaha in the just concluded presidential election, and as such, warned that the party should not take the same route in the search for a senate president.

He, therefore, pleaded with APC members from the north, who were contemplating runningfor the position of the senate presidency to drop from race so as to ensure religious balance, saying they should excuse themselves from that ambition in the interest of the nation.

Ndoma-Egba, who spoke in Abuja at the second edition of New National Star Newspaper monthly breakfast meeting, begged that the position should be reserved for Christians.

At the breakfast meeting with the theme: ‘2023 General Election: A Postmortem’, the APC chieftain said, “Same faith ticket was a major problem for the APC. Labour Party latched on it. We managed to survive it. Let’s not

push our luck too far. It is not a matter of might. I appeal to our Muslim brothers from the north to excuse themselves from contesting the senate presidency. See it as a sacrifice for the sake of national interest,” he said.

Ndoma-Egba, who is also former chairman of Niger Delta Development Commission (NDDC), admonished Nigerians to have faith in the country and continue to be patriotic as the unity, peace and prosperity of the country should be the guiding principles.

Also speaking at the occasion, a former Minister of Labour and Productivity, Emeka Wogu, who was the special guest, said the National Assembly should be saddled with the responsibility of appointing the Chairman and Members of the Independent National Electoral Commission (INEC).

According to him, this would make the electoral umpire truly independent without recourse to the biddings of executive and consequently eliminate electoral malpractices.

Earlier, in his opening remarks, the Managing Director/Editor-in-

Chief, New National Star, Newspaper, Dr Obinna Nwachukwu, said there were divergent opinions on the conduct and outcome of the elections held across Nigeria on

February 25 and March 28, 2023 respectively.

"As the watchdog of the nation, the media must rise to its constitutional responsibility.

This,therefore, informed the holding of this breakfast meeting designed to examine issues around the 2023 general election, the conduct of both political and non-political actors

including the security agencies with a view to fashioning out a more robust way of solving this perennial problem that has been with us for since independence.”

Senate Unhappy over Delay in Burying Wayas, 14 Months After Sunday Aborisade in Abuja The Senate, yesterday, expressed unhappiness at the continuous stay in mortuary, the remains of a former Senate President in the Second Republic, Joseph Wayas, 14 months after in a London Hospital.

Wayas died at a London Hospital on November 20th this year and his remains deposited at the morgue in the United Kingdom.

The Senate, through a motion moved by Senator Gershom Bassey (PDP Cross Rivers South), declared that the delay in the burial of the Wayas was embarrassing to the senate and

the federal government.

The red chamber consequently called on the federal government to as a matter of urgency, evacuate the remains of the deceased from the London Hospital Mortuary for befitting burial in Nigeria, just as it also called for his immortalisation.

Bassey, in his lead debate on the motion, informed the Senate that the remains of Joseph Wayas has been in mortuary of a London Hospital since November 2021 after his death, suggesting that the Senate should urgently take over the burial plans of the deceased to save the country further embarrassment.

"It is very worrisome and embarrassing that 14 months after the death of the former Senate President, his remains still lie in the morgue in UK. The Senate needs to as a matter of urgency, intervene by taking over the burial plans of the deceased," Bassey said.

Senators like Jibrin Barau (APC Kano North), Aliyu Sabi Abdullahi (APC Niger North), Uche Ekwunife (PDP Anambra Central) and Enyinnaya Abaribe (APGA Abia South), expressed sadness on the development and called on the Senate to laise with relevant authorities for way out.

President of the Senate, Ahmad

Lawan, said the delay of Wayas’ burial was very embarrassing to the National Assembly and the federal government, adding: "This is not a good commentary on us as a country.

“Unfortunately, to stop this type of embarrassment, attempt made last year for presiding officers of the National Assembly be given medical supports for life

by Nigeria was rejected by us during voting on constitution amendments. The embarrassment at hand with the Joseph Wayas remains, calls for reflection and I hope the 10th Assembly will do the needful."

Groups Want Whistleblower Who Exposed Illegal Tinubu Congratulates Activities of Anambra Police Officers Released Oshiomhole at 71 Tinubu commended him for Akinwale demonstrating courage and greater Say indicted officers have no right to interrogate him Adedayo President-elect Bola Tinubu, has commitment in all his previous

David-Chyddy Eleke in Awka

A coalition of 29 Civil Society groups, has called for the release of a serving corps members, Mr Nnamdi Emeh, who revealed illegal activities of some senior police officers in Anambra.

The whistleblower, who once worked with the Anambra State Police Command, is believed to have leaked information of alleged atrocious activities of the police officers to the media.

He has been held in detention in Abuja, since his arrest on March 3, 2023, and believed to have been recently hounded back to Awka for trial.

But the civil society organisa-

tions said, the man should be released or immediately charged to court if found to have committed any crime.

The groups, which came together as Civil Society Coalition Against Impunity, in a press release, said: "26-year-old Mr. Emeh Nnamdi, a serving member of the National Youth Service Corps (NYSC) and an IT consultant to the Anambra State Police Command, has been in detention in Abuja since March 3, 2023.

"He was arrested in Benin Republic for revealing shocking details about police extortion, torture, extrajudicial executions, and organ harvesting by senior

police officers in Anambra state.

"On Sunday 2 April 2023, Mr. Emeh was transferred to the Anambra State police command where he is currently facing further interrogation.

"Among his interrogators in Anambra State are senior police officers whom he had indicted for seizing posh vehicles recovered from criminal suspects, who were later executed in police custody."

The group said it was wrong for indicted police officers to interrogate the whistleblower, saying this offended the principle of natural justice, which espoused that one should not be a judge in one’s own case.

"We urge the Nigerian police to

immediately release him or charge him for a recognized offence.

We believe that Emeh Nnamdi could be at risk of ill-treatment or extrajudicial execution if he is not released or charged to court immediately.

"Whistleblowers are vital for a transparent society. They are essential to awakening informed debate within public opinion, crucial to opening up investigations by journalists and necessary for questioning decision-makers.

Whistleblowers are a vital link in the promotion of human rights, the rule of law, transparency, accountability, social justice, and the fight against corruption," the group said.

congratulated a former governor of Edo State, Adams Oshiomhole, on his attainment of 71 years of age.

Tinubu, in a statement, yesterday, noted the contributions of Oshiomhole to the welfare and security of workers in the country and national development as a Labour leader and how he deepened democracy and good governance in Edo State, where he served as governor for eight years.

Oshiomhole, who was at different times President of the Nigerian Labour Congress and National Chairman of All Progressives Congress (APC) also served as the Deputy Director-General of the Tinubu-Shettima Presidential Campaign Council.

leadership positions.

"Today, I celebrate with my friend and brother, Comrade Adams Aliu Oshiomhole, on the occasion of his 71st birthday. Comrade Oshiomhole is a man of courage, who made his mark as labour leader, Edo governor and party leader.

"His contributions to economic growth and national development in Nigeria are tremendous and will be a reference point for many years to come.

"I salute his steadfastness and commitment to the ideals of justice, freedom, democracy and good governance, which he demonstrated as Governor of Edo State and as National Chairman of our party, the All Progressives Congress," he said.

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MIDWEEKPOLITICS

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

08033025611 SMS ONLY

Obi: An Emerging Force in Nigeria’s Political Landscape After a critical look at the efforts of the presidential candidate of Labour Party, Peter Obi, in the just concluded 2023 presidential Poll, David-Chyddy Eleke concludes that he is an emerging force in Nigeria’s political landscape.

N

ot many gave former Anambra State governor, Mr Peter Obi, a chance, when in June 2022, he moved to Labour Party, after he sensed a conspiracy to frustrate his presidential ambition in his former party, the Peoples Democratic Party. But Obi thronged on, and before long, his seriousness to vie for the nation’s presidential seat began to manifest.

This was followed strongly with the approval of Nigerian youths, who immediately rallied behind him, endorsing him in all parts of the country, leaving most contenders in awe, while many still disbelieved that the support was real.

For example, some members of the ruling All Progressives Congress (APC) refused to believe that the social media followership that Obi was getting, could culminate into physical support.

Former National Chairman of the APC, Comrade Adams Oshiomhole, when asked during a live television interview if Obi and the Labour Party constitute any threat to his party, having seen the level of support that the LP candidate was enjoying, simply replied: “The people you see on social media supporting Peter Obi are not real, they are just about four persons tweeting in a room and trying to make people believe that Obi was popular”.

Oshiomhole may not have been alone in this line of thinking. Many people actually believed that Obi and members of his campaign team stage-managed the huge support that Obi was getting from the social media, by employing people to use several social media handle to hype Obi and make it look like he was very popular.

Obi or rather, Nigerian youths who were drumming support for Obi, got the opportunity to prove themselves, when they organized a one million man march in various cities in the country, firstly in Lagos, Benin and Delta. The march witnessed huge attendance, even without the Labour Party Presidential Campaign Council lifting a finger to organize it. It was purely an organic crowd of young people who believed that the dominant system had failed them, and were yearning for a change.

Many others believed that Obi may not be able to sustain the tempo of support, after joining the Labour Party in June 2022, while the election was scheduled to hold on February 25, 2023, a clear eight months away. The belief was that the force propelling the support for Obi would wane before the election. This may have been the reason why many, including the Governor of Anambra State, Prof Chukwuma Soludo, swore that Obi would not be able to win up to three states in the country.

Reality however dawned on all, after the presidential election, where Obi, like the other two leading candidates, won 12 states.

The clamour for Obi was so high that even in Lagos State, where the candidate of the APC, Asiwaju Bola Tinubu hails from, Obi’s victory re-echoed there.

Above all, what was more resounding was the number of candidates of the Labour Perty that were able to win elective positions in all parts of the country, using the influence of Obi. In Anambra State where Obi hails from, candidates of Labour Party for all elective positions had smooth sail to victory, courtesy of Obi. For example, out of the three senatorial seats in the state, Labour party candidates won two of the seats in Anambra North and Anambra Central, where Hon Tony Nwoye and Senator Victor Umeh clinched the positions, leaving only one seat in Anambra South which Senator Ifeanyi Ubah won. The ruling party in the state, All Progressives Grand Alliance, was not able to clinch any seat because of Obi’s popularity in the state.

Also, out of the 11 federal constituencies, Labour Party won five, leaving the ruling party in the state, APGA with four, while YPP won one seat, and one (Ogbaru Federal Constituency) is set for a rerun, with Labour Party still in the lead.

Also in the state assembly election, Labour Party was able to stop APGAfrom sweeping the entire 30-man seat. While APGA struggled to

Obi

secure the majority of the seats, LP got eight seats. Young Progressives Party through the influence of its national leader, Senator Ifeanyi Ubah, won three seats, which are concentrated around Nnewi, where he hails from.

In the representation of the party in the soon to be inaugurated 10th National Assembly, INEC had in a press conference stated that Labour Party won six senatorial seats and 34 seats in the House of Representatives, making it the third most popular party in the incoming 10th National Assembly.

INEC Chairman, Prof. Mahmood

Yakubu, in giving a breakdown of the seats won by the various parties said: “In the senatorial election, 98 out of 109 seats have been declared.

Seven political parties won senatorial seats while in the House of Representatives, 325 out of 360 seats have been won by eight political parties.

“All Progressives Congress (APC) won 57 Senate seats; Peoples Democratic Party (PDP) 29; Labour Party (LP) six; Social Democratic Party (SDP) two; New Nigeria Peoples Party two; Young Progressives Party (YPP) one and All Progressives Grand Alliance (APGA) one.

“In the case of the lower chamber, APC has 162 seats; PDP, 102; LP, 34; NNPP, 18; APGA, four; ADC, two; SDP, two; YPP, one.”

It was generally believed that most of those

The popularity of Obi, even after the election has, however, continued to soar. In many public gatherings that he has attended since after the presidential poll, the ovation for the former governor has remained high. In Anambra State, Obi’s appearance at the International Convention Center, Awka, during the first year anniversary of the Prof Soludo as governor, caused quite a stir.

Obi appeared at a time when the governor was already on the podium to deliver his anniversary speech, and his presence sent the crowd ecstatic with joy, as they hailed him, to the point that the governor’s speech was disrupted momentarily

who won election on the platform of Labour Party did so, through the influence of Peter Obi. This has set him as a major force to reckon with in Nigeria’s political landscape, making Labour Party the third force in the country.

A journalist, Mr Tony Okafor, while speaking on the sustainability of the feat attained by LP said: “I have written to Mr Peter Obi and told him to own these young politicians who just won seats in the national and state assemblies through his influence. Most of them are rookie politicians, and they need a father figure to be there for them. Obi must take them in, train them, mentor them and see them grow.”

The popularity of Obi, even after the election has, however, continued to soar. In many public gatherings that he has attended after the presidential poll, the ovation for the former governor has remained high. In Anambra State, Obi’s appearance at the International Convention Center, Awka, during the first year anniversary of the Prof Soludo as governor, caused quite a stir. Obi appeared at a time when the governor was already on the podium to deliver his anniversary speech, and his presence sent the crowd ecstatic with joy, as they hailed him, to the point that the governor’s speech was disrupted momentarily.

Reacting to this, many people who felt that the 97 percent bites which Obi won in the state during the presidential election, have already started recanting. A known critic of Obi, Reno Omokri, after the show of solidarity took to his Social media page to apologize to Obi for doubting his absolute victory in the presidential election on Anambra.

So far, Obi has already approached the court over the presidential election, on the grounds that he won the election, but many believe that even if he fails to recover his allegedly stolen mandate, Obi remains a force that if sustained will In the near future get the opportunity to rule Nigeria.

19

T H I S D AY ˾ WEDNESDAY APRIL 5, 2023

POLITICS

Afenifere, 2023 Election and Unabated War

Fidelis David reports that the crisis rocking the pan-Yoruba organisation, Afenifere, persists as the group led by Ayo Adebanjo and Pa Reuben Fasoranti is at loggerheads over the outcome of the 2023 presidential poll.

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aturally, the thought of an average Nigerian was that after Bola Ahmed Tinubu of the ruling All Progressives Congress (APC) was declared the winner of the February 25, 2023 election by INEC, the wrangling between the leaders of the apex Yoruba sociocultural organisation, Afenifere, would naturally die, but the reverse appears to be the case.

Recall that October 2023 closed in a seemingly symbolic and emotive moment for the All Progressives Congress (APC) Presidential candidate, Asiwaju Tinubu, when he took a benedictory pilgrimage to Akure, the capital city of Ondo State to receive the all-clear from Pa Rueben Fasoranti—an endorsement that generated mixed furore.

Fasoranti, who was made the leader of Afenifere in November 2008 and had stepped down for Adebanjo in 2021, while performing the greybeard invocation, had his two palms firmly placed on Tinubu’s clean shaven head and wished the APC national leader a smooth glide in the race for Aso Rock, even as Tinubu put forward his 80-page manifesto before the nonagenarian with other prominent Yoruba leaders present.

The meeting came after Chief Ayo Adebanjo, the current leader of the group had earlier endorsed Peter Obi of the Labour Party as the preferred candidate of Afenifere for the 2023 presidential election.

Meanwhile, the current exchanges followed a statement issued penultimate Tuesday after its monthly general meeting presided over by Mr Adebanjo in Isanya Ogbo in Ogun State, in which Afenifere formally rejected the results of the presidential election.

Specifically, Afenifere, under its acting leader, Ayo Adebanjo, rejected the declaration, claiming that Peter Obi of the Labour Party, who came third, actually won the election.

A communique issued after the meeting by the Secretary General of the group and Southwest Co-

Fasoranti

Adebanjo

ordinator of LP Presidential Campaign Council, Sola Ebiseni, reiterated its position that the February 25 Presidential election was characterised by all forms of primitive manipulations and noncompliance with the constitution of the Federal Republic of Nigeria, the Electoral Act 2022 and the guidelines and regulations.

The communique reads: “The results of the lawful votes at the Presidential election available to the Afenifere through credible sources confirm that Peter Obi, the presidential candidate of the Labour Party, won the said election and we, thus, support his decision challenging the contrary declaration by the INEC. Re-assert that for equity, fairness, national cohesion and peaceful corporate existence, the next President of the Federal Republic of Nigeria shall be person of its southern part and specifically the South-East.

“Condemn in the strongest terms, the campaigns of calumny and acts of ethnic violence deployed by some politicians and their hired criminal gangs in several parts of the federation during the gubernatorial election particularly Lagos State where the election was made to appear like an inter-ethnic war between the Yoruba and Igbo which greatly led to voters’ suppression and other forms of deliberate disenfranchisement through brigandage”.

The group which believed that for the interest of equity, unity and fairness, it is the turn of the South East to produce the next President of Nigeria, also expressed belief in the judiciary as an integral part of the democratic process and expect that it proves itself in the election litigations pending before it without fear or favour and in accordance with the judicial oaths of its members and in covenant with Nigerians.

Afenifere led by Adebanjo had endorsed Mr Obi for the election, saying it is the turn of the South East (Igbo people) to produce the president.

However, Afenifere led by Fasoranti dismissed

claims of rubbishing Bola Tinubu’s election, maintaining that the group recognised the former Lagos State governor as the president-elect.

Fasoranti, the frontline educator and Second Republic Commissioner for Finance in Ondo State, while reacting through a statement titled “Afenifere is a Law-abiding Organization”, explained that Adebanjo’s statement was alien to Afenifere which does not conduct itself as an agent of the state let alone as an electoral umpire.

“Presently, the whole world knows that Nigeria has a President-elect in person of Asiwaju Ahmed Bola Tinubu, a true Yoruba son and nationalist.

We in Afenifere not only acknowledge this, we take delight in his in-coming Presidency and are confident that he will, by the grace of God, return Nigeria to the glorious position that all of us will be proud. Which was why I also congratulated in a personal letter I sent to him.

“The whole world is aware that I personally blessed and anointed Ahmed Bola Tinubu on October 30, 2022 in the presence of notable people from all parts of Yorubaland right here in my place in Akure. How can we then turn round and condemn the election of such a person? We never did. I also read in the said Communique, the purported removal and suspension of the National Publicity Secretary and the National Organising Secretary of the organization in persons of Comrade Jare Ajayi and Abagun Kole Omololu.

“At no time was any of these officials reported to me as doing anything against what Afenifere stands for or doing anything against the interests of our race, the Yoruba. Thus, at no time was I informed that they were queried, warned or sanctioned for conducting themselves in a manner contrary to what Afenifere or the Yorubas stand for”.

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

As Controversy Trails Imo Assembly Poll Result Amby Uneze examines the conduct and subsequent announcement of Imo State Assembly poll result held recently where the Independent National Electoral Commission declared APC as winner of all the 27 seats in the House.

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he 2023 general election has come and gone but its outcome remains the talk on everyone’s lips. In every corner, the election has been described by various segments of the society as falling short of expectations.

The electoral umpire, the Independent National Electoral Commission (INEC) has been accused of partiality. There were glaring evidences of where they assisted their preferred party to win elections, from the presidential to national assembly and finally to the States House of Assembly. The impunity is quite unacceptable.

In Imo State, the State House of Assembly election held on March 18, 2023 was nothing but a charade, where impunity, intimidation and day-light robbery of the will of the people was perfected.

It was quite unfair on the part of the ruling All Progressives Congress (APC), the Resident Electoral Commissioner (REC) in Imo State, Prof.

Slyvia Agu, and the State Police Commissioner, Ahmed Barde, to allegedly manipulate the process of the election leading to the overall winning of the APC in the State.

Political watchers are very much aware how much the ruling party is rated in the State. According to the group, Imo Good Governance for Development (IGGoD), the last time we checked, APC could barely clinch three seats in the State House of Assembly. The reason is that the party is so unpopular for the wrong reasons, and could take an elephant to pass through the eye of the needle than for it to win a landslide victory of a 100 percent in the State Assembly election, in fact, in any election.

“This is another wonder of the world. However, it is very obvious that the brazen manipulation, rigging, and the audacity of connivance between the State government, INEC and the Police to rob the people of the State their Constitutional right to choose their representative was so alarming. In this twenty-first century that a political party that

Uzodinma

Yakubu

is low-rated based on the hardship its leaders have brought to the people would win a 100 percent election.

“This goes to show that those who had perpetuated this criminal art were not smart; otherwise they would not have claimed winning the whole 27 seats in the State Assembly leaving none to other political parties. Who will believe this?

“The actual result of the House of Assembly election of March 18, no doubt has not been released by INEC. INEC should make fast and tell Imo people what happened to the original results they voted in that election, and not this shameful abracadabra they are parading as result?”

It is gratifying that INEC BVAS was active during the March 18 State Assembly election and going by the uploaded results through www.inecelectionresults.ng, what

INEC declared was in complete variance with the uploaded figures by BVAS. For instance, in Isu local government, the total result as uploaded in the INEC BVAS showed that APC scored 4,954 while PDP scored 5,551 votes, indicating that PDP won in the LGA. In Ideato South local government, INEC Server indicated that Accord Party (AP) scored the highest vote of 3,970 with APC coming second with 3,028 votes. Also, in Ideato North local government, the PDP scored 5,063 votes as against the APC of 4,097 votes.

Outrageously, that of Owerri Municipal council as announced by the INEC returning officer showed that APC scored 79,043 votes, LP scored 12,765 votes, PDP scored 9, 674 votes. It goes to show that in Owerri Municipal council, BVAS was not used to conduct the election; hence the overall manipulated curious result. This needs to be investigated.

Watching a woman who claimed to be a returning officer for Owerri Municipal Council in a social media being sandwiched by angry-looking APC faithful speaks volume of a rigged result.

There was no other party agents in that centre except the APC members. The lady claimed she was declaring final result of the Assembly election in the dark standing with no space to breed fresh air amid fierce-looking persons led by the State Chairman of APC, Macdonald Ebere, flashing torch light to aid the lady pronounce results indeed expressed desperation.

Again, another ward Collation Officer who served in Obowo local government council who didn’t want his name to be mentioned disclosed that if what he saw in the field of collation of result was anything to go by, then there was no election into the state Assembly.

He stated that he was busy entering results, when suddenly another result from nowhere was presented to him and the LGA Electoral Officer in company of the police forced the ‘manufactured result’ on him to enter into the original result sheet. He complained that prior to the arrival of the ‘manufactured result’; APC candidate had already lost the local government.

In a press conference addressed by the state publicity secretary of PDP, Collins Opuruozor, claimed that “by the time voting ended on Saturday and over 80 percent of the results declared at the polling units, it had become clear that PDP won landslide in majority of the 27 constituencies of the State.

“Then, the APC regime of Senator Hope Uzodinma returned with the only option which they know how to do, namely the use of state violence to abduct INEC officials, cart away election materials, falsify results and impose their lackeys on Imo people as winners. This administration of Senator Uzodinma which foundation is rooted in usurpation of popular mandate and debasing of democratic institutions and values has finally set Imo State on fire!

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

20

T H I S D AY ˾ ͳ˜ 2023

FEATURES

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

Flora Nwapa: A Reminiscence In her book, Flora Nwapa: A Reminiscence, Kodili Ogbonna takes a critical look at the history and life path of the famous feminine novelist, peeping into her community background at Oguta, Imo State, her education as well as her undergraduate days. She also delved into her scholarship expedition at Edinburgh down to her career trajectory, touching also on her not-so-sweet marriage experience

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lora Nwapa, the famous feminine novelist used the art of story telling to undertake her crusade for womanhood. She had a flowery career as an educationist, writer and socialite, but may not have succeeded as much as a wife.

Hiding under the cover of many of her characters, Flora Nwapa portrayed he womenfolk as blessed and courageous breeds with exceptional attributes to wade through the rivers of life.

In her book, Flora Nwapa: A Reminiscence, Kodili Ogbonna takes a critical look at the history and life path of Flora Nwapa, peeping into her community background at Oguta, Imo State, her education, her undergraduate days into her scholarship expedition at Edinburgh down to her career trajectory, touching also on her not-so-sweet marriage experience.

Kodili traces how they arrived at the present day settlement called Oguta. The people of Ugwuta came from the Northern part of Imo State formerly called Owerri.

They found a fishing settlement close to a very important lake which was discovered by a fisherman and warrior called Aman Adu Aka Eneke Okitutu.

Those lands were acquired through war with the king of Away who didn't want Aman Adu and his two brothers to inhabit the land.

The traditions and cultural practices of the people of Ugwuta were similar to the Kingdom of Benin. They worshipped the goddess of the lake of Ogbuide and practised a lot of rituals and sacrifices before the coming of the missionaries who brought Christianity to the land of Ugwuta. The coming of the European and Portuguese traders changed the name Ugwuta to Oguta, for ease of pronunciation and spelling.

Flora Nwapa's childhood was a mixture of traditional and western culture. She learnt hard work, good morals from her grand parents, Chief Onumonu Uzoaru and Madam Ruth. Onumonu who didn’t discriminate against boys or girls. They were influential persons in Oguta; both her grand parents were educated and as Christians who instilled their Christian belief in their children.

Flora Nwapa's grand parents were international traders who travelled vastly and were invited to wine and dine with royals such as the Queen of England in the early 1950s. They sent their children to school even the girls among them.

Flora Nwapa's father, Christopher Ijeoma Nwapa also attended the same schools were he studied and taught for sometime.

He distinguished himself in all that he did. Her mother, Mrs. Martha Onumonu Nwapa also distinguished herself in her field as one of Oguta's first female graduate.

She made great feats.

Mr.Christopher and Martha Nwapa made Oguta their home where they lived with their children.

Flora Nwanzuriahu Nkiru Nwapa was their first daughter, born in 1931. Mrs. Martha gave birth to nine girls three boys. All her children grew up to be influential citizens in their communities. Mr Christopher taught his children the virtue of hard work by making them work on the poultry and animal farm he established immediately after retiring from active service at African Trading Company and UAC at Port Harcourt.

Christopher also trained his younger brother, Alfred Chukwudifu Nwapa who was a great influence on Flora Nwapa both in western ways and in social ethics. Alfred was the one who introduced the Nwapa's name into Nigerian Political scene. Flora came from a family of firsts i.e.first in every aspect of successful achievements in life.

Her literary and professional career was nurtured by her educated parents and accomplished relatives. She learnt that with good education a person would become a leader and acquire the rIght network.

The early years of Flora Nwapa saw her acquiring the art of speaking and writing English Language.She attended Archdeacon Crowther Memorial Girls School in Elelenwa and the University College Ibadan where she mastered English classics and African creative poetry and drama. She was a dutiful daughter who helped her mother around the home and also helped to look after her siblings.

Flora loved reading books a lot even when

Book cover doing her duties. She found time to read literature books; while at ACGMS Flora learnt how to bond with her classmates as well as her housemates because of the vigorous nature of life in the boarding house which was situated in a very rural location.

They were subjected to daily labour of fetching water from the stream, cleaning and Ironing their uniforms. She compared her life at ACMGS to the life of those who gained admission into Queen's College Lagos where it was living a life of royalty. Although the life at ACGMS was tough, it was made easier by Flora's Aunt, Rhoda, who taught Domestic Science at the school. She helped her through her trying times at the school.

Her Aunt taught her how to cook foreign cuisines. Flora learnt good behaviour, cleanliness, kindness and godliness from her principal,Miss Hill while preparing for her O'level exams. From ACGMS, Flora prepared to enter the prestigious University

College, Ibadan in 1948.

She stayed with her friend Edith Oki who spoke about Flora's days at Queens College Lagos, were very eventful, she attended Queen’s College, Lagos where she sat for her A'levels and later returned to Oguta to teach while waiting to gain admission into UC. Ibadan.

Flora Nwapa was the first female student to gain admission into UCI by direct entry.

At UCI Flora was classmate with people like Chinua Achebe, Christopher Okigbo, Mabe lmoukhuede, Segun to mention but a few. She witnessed great writers like Chinua Achebe write stories which they published.

At UCI there was a mixture of ethnic group which helped to de-tribalise the school.

Flora and her younger brother who also gained admission into UCI had great mentors like JAP Oki who tutored Flora in History.

She lost her dear uncle, Alfred Nwapa which shook her family greatly especially Flora's father.

Flora gained admission to study a diploma in Education in Edinburgh University, Scotland through an award of a scholarship, but before she could leave for Scotland she suffered another terrible loss. She lost her best friend,

The women in Flora's novel portrayed the strength of womanhood. How the women stood their grounds against oppositions and oppressions from their husbands. Flora disguised herself in many characters in her novels and books. Her books also condemned the maltreatment of the womenfolk and favoritism the male apiece get in our society

Bisi Fagbenle to a botched abortion at UCI. She was heartbroken by her friend's death.

Her stay in the University of Edinburgh Scotland was filled with great adventures with her friends because she already had friends in London. She was very comfortable; she didn’t feel out of place there. Her scholarship was for a year so she faced her studies with great enthusiasm and also spent time reading.

Before leaving for Edinburgh, Flora had got into a relationship with Gogo Chu Nzeribe whom she had met In Lagos around 1946.

She really liked him. Gogo was a handsome man who studied at King’s College, Lagos; while she was at AMDGC. Gogo was from a prominent family in Oguta.

While at King's College Gogo was involved in school Unionism. He was a radical and activist who got expelled from King's College in 1948. He went on to join the NCNC party and became a writer for Labour Champion in Lagos and he made a name for himself as a first-class journalist. Flora's relationship with Gogo was a serious one. Everyone knew they were together but Gogo never made a formal commitment to her.

He never visited Oguta or his family. Flora's parents had rejected their relationship because of this fact. They felt he was an outsider who did not associate with his people or family and if Flora were to marry him they would not see their daughter again.

After Flora was done with her scholarship education in Edinburgh University she was given a hero's welcome back home. She was also given a title' “The killer of cows.” Flora missed Gogo so much that she couldn’t wait to get back to Nigeria.

After her return, they got married secretly to the dismay of her family who didn’t see Gogo as a good match for their beloved daughter.

By the end of 1958, Flora had Ejine, her precious daughter but her relationship with Gogo was never the same strongbond anymore because they did not stay together. Gogo worked in Lagos while Flora worked in the East. The trip to the East was difficult for Gogo so he saw his daughter, Ejine only once. He bought her a red toy and a crate of soft drinks.

During this period Flora was working at Queen’s College, Enugu, from where she later resigned to take up a job opportunity at The University of Lagos.

She took up writing as a serious past time. Writing helped Flora heal her pain and also gave her something more to live for.

She was 35 years old when she published her first novel, Efuru in 1966 in London.

It was her friend, Chinua Achebe who read her manuscript, liked it and sent it to the publishing house in London. Flora became the first African female novelist. This led to the beginning of a career in writing.

Flora's novels depicted strong women who had gone through struggles and pains to rise as champions of the home and family.

During the height of her success as the first female novelist hostility broke out between the Hausas and Igbos that it became unsafe for Flora and her daughter to stay in Lagos.

She fled Lagos with her daughter Ejine to Oguta where she continued to write and care for her daughter. Gogo was murdered in Lagos during an unrest because he refused to relocate to the East.

Most of her novels were written to reflect her experiences in life. The story lines in all her novels pointed to similar experiences in her life. Her books ‘Efuru’, 'Women were different” One is enough' and many other books were written to show some similarities with her life and marriage.

She wrote about the marriage life in Igboland using characters in her novels. Her experiences with Gogo's family especially her mother in-law's role in destroying her marriage by insisting on Gogo taking a second wife were all used to create her master pieces.

The women in Flora's novel portrayed the strength of womanhood. How the women stood their grounds against oppositions and oppressions from their husbands. Flora disguised herself in many characters in her novels and books. Her books also condemned the maltreatment of the womenfolk and favoritism the male apiece get in our society.

Some of her works include 'Two women in conversation, ''Women are different','The first lady'and so on.

21

T H I S D AY ˾ ͳ˜ 2023

ENTREPRENEUR

Bukola Seun-Oloruntuga: Why I Became a Career and Executive Coach Bukola Seun-Oloruntuga is a lawyer and also doubles as a career and executive coach. Her journey into becoming a career and executive coach was due to passion for helping individuals in the workplace achieve their professional goals. Speaking at the sidelines of the "Accelerate Your Career Growth" webinar series, which she just organised, her goal is to offer practical solutions to problems that professionals face at every level of their career journey. Precious Ugwuzor reports

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t the recently held webinar series on Accelerate Your Career Growth, which she organised, Bukola Seun-Oloruntuga, a lawyer who also doubles as a career and executive coach exhibited such passion about offering practical solutions to problems that professionals face at every level of their career journey.

The webinar is a platform for experts, coaches and thought leaders to share insights and strategies on how professionals can fast-track their career growth in the new world of work.

The first edition, which took place on March 17, 2023, featured a dynamic panel of coaches and experts from the United Kingdom, including Kemi Oye, Emeka Ebeniro and Mohammed Kasujee.

Seun-Oloruntuga, also known as Coach BSO, said as much as she enjoys practising law, her true passion lies in helping professionals fast-track their career growth and become their best selves.

“Coaching allows me to combine that passion, my personal experiences, and skills in communication, problem-solving, and leadership development to help professionals navigate their career paths, develop leadership skills, and achieve their goals.

“Additionally, coaching allows me to have a more flexible schedule and the opportunity to work with clients from various industries and backgrounds,” she said.

The lawyer explained that career coaching involves helping individuals identify and achieve their career goals through various strategies, such as self-awareness, personal branding, and personal growth.

On the other hand, executive coaching, she said, focuses on helping leaders improve their performance and effectiveness through feedback, leadership development, and goal setting.

Seun-Oloruntuga still deploys her legal skills to help her clients, especially in estate planning.

She said: “As a lawyer, I help my clients to leave their loved ones with more than fond memories through effective estate planning.”

“As a career coach, I help my clients to accelerate their career growth and become the best versions of themselves through my podcast, one-on-one or group coaching programs and webinars.

Seun-Oloruntuga “As an executive coach, I help leaders and executives achieve work-life balance, develop leadership skills, improve communication skills, and drive organisational change through one-on-one coaching and training for their team.”

In an era lawyers are leaving the profession for other vocations,

Seun-Oloruntuga shared tips on how they can succeed.

She said: “My top career tips for every lawyer would be: one, be a lifelong learner.

The world has become volatile, unstable, complex, ambiguous, and disruptive (VUCAD).

“Only a commitment to continuous learning will make it easy for you to adapt and stay above the curve. Two, build a strong network.

Your network determines your net worth.

Three, find and keep your three musketeers.

Every professional needs a mentor, a coach, and a sponsor.”

“You need a mentor to provide guidance, a coach to open your eyes to all your potential and hold you accountable and a sponsor to mention your name in the right place to the right people at the right time.”

With unemployment a major national problem, Seun-Oloruntuga urged the government to invest in policies that promote entrepreneurship and attract foreign investment, which she believes are critical to creating job opportunities and lowering the rate of unemployment.

“While it is difficult to predict what the incoming government will do, I remain optimistic that with a commitment to serve the Nigerian people, any government will be positioned to bring about the change that our dear country desperately needs,” she said.

On why she organised the webinar, she said it was to provide practical solutions to problems that professionals face at every level of their career journey.

“The Accelerate Your Career Growth webinar series is supposed to bridge that gap by being a platform where credible coaches, experts and thought leaders can share valuable insights and practical strategies that can help professionals fast-track their career growth,” she said.

Experts at the webinar shared valuable insights into how to stay relevant and valuable as a professional, build a personal brand that sets one apart, and identify and capitalise on opportunities in the new world of work.

According to Kemi Oye, an Executive and Career Coach, staying up-to-date with industry trends and having relevant skills is key to positioning oneself for growth in the new world of work.

A business consultant and personal branding/transformation specialist, Emeka Ebeniro, emphasised the importance of building a personal brand that communicates a professional’s value to prospective clients and employers.

Mohammed Kasujee, a career coach, business mentor and professional speaker, highlighted the need to identify and learn new skills that will set one on a new career trajectory.

Army Develops Capacity of Senior Commanders to Meet Emerging Security Threats Precious Ugwuzor

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o develop capacity of senior commanders to meet emerging security threats, the 81 Division Nigerian Army recently hosted the first Senior Command and Leadership Seminar at Nebo Hall Headquarters Nigerian Army Ordinance Corps, Albati Barracks, Ojuelegba, Lagos.

Themed “Capacity Development of Senior Commanders to meet Emerging Security Threats in a Joint Environment", the participants include Principal Staff Officers from the Army Headquarters, General Officers Commanding, Commanders and Commandants of Nigerian Army Formations/ establishments.

In his speech, the Chief of Army Staff (COAS), Lieutenant General Faruk Yahaya, said it is imperative to produce well-trained commanders that will effectively confront the prevailing security challenges in the country.

Represented by the Commander, Signal Signals, Major General Garba Abdullahi, the COAS said the seminar was in line with his

COAS, Lt. Gen Yahaya vision of having “a professional Army ready to accomplish assigned mission within a joint environment

in the defence of Nigeria”.

According to him, “the myriad of security challenges the country is facing require commanders and leaders to be equipped with the requisite knowledge to tackle the situation.

“Therefore, the Nigerian Army will continue to organise trainings and seminars to ensure we build professional commanders and leaders at all levels."

He further posited that the seminar was intended to avail participants the necessary capabilities and competencies required to successfully accomplish assigned missions, as it relates to emerging security threats.

He added that, "the topics and resource persons have been carefully selected and designed to reflect current realities on ground as well as to enable participants to derive maximum benefits from the seminar.

“Accordingly, the seminar has been deliberately tailored to focus on leadership at command levels, intelligence gathering, military decision making process, logistics planning, legal implications and human right issues among others.

“As we continue to implement the Nigerian Army Forecast of Events and Training Directive for 2023, I implore you to seize the opportunity of this seminar to improve on your knowledge of leadership."

He expressed optimism that by the end of the seminar, the set objectives would have been met to enable them discharge their constitutional roles professionally, adding that "the dynamic and ever changing security situation in the country requires that the Nigerian Army equip leaders at all levels with the requisite capabilities to face these challenges, especially in a complex environment.

“I, therefore, urge you all to apply yourselves to all that will be taught by tapping from the wealth of knowledge and experiences of the resource persons".

On the last general elections, he congratulated officers and soldiers of the Nigerian Army for their professional conduct during the recently concluded general elections in the country, adding that through their actions, citizens were able to freely exercise their civic responsibilities.

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WEDNESDAY APRIL 5, 2023 • T H I S D AY

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24 T H I S D AY WEDNESDAY APRIL 5, 2023 TR

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& RE A S O

Wednesday April 5, 2023 Vol 27. No 10219

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opinion@thisdaylive.com

www.thisdaylive.com

NIGERIA AND THE GLOBAL INTERNET INDEX Nigeria ranks low in the Internet value index, writes SONNY ARAGBAAKPORE

See page 25

SANWO-OLU’S TRANSPORT PALLIATIVE UCHE NNADOZIE writes the initiative was helpful in a period of acute naira scarcity

See page 25 EDITORIAL

STATES AND MOUNTAINS OF DEBTS

26

1

President Buhari, INEC chairman, Yakubu, the President-elect and the Nigerian political entity are all losers, reckons MICHAEL OWHOKO

FOUR BIGGEST LOSERS OF 2023 GENERAL ELECTIONS Real losers of 2023 Nigerian general elections are not the electorate who were deprived of their rights to freely choose FDQGLGDWHV RI WKHLU FKRLFH QRU WKH ÀUVW timer youth who were disappointed by the Nigerian state nor the candidates who lost or won as declared by the Independent National Electoral Commission (INEC).

The biggest losers are President Muhammadu Buhari, INEC Chairman, 3URI 0DKPRRG <DNXEX 3UHVLGHQW HOHFW Senator Bola Ahmed Tinubu and Nigeria as a political entity. Except for Bola Tinubu who carries the burden of legitimacy arising IURP ÁDZHG SURFHVV DQG WRWDO PLQLDWXUH votes garnered, the others will live with scar and collective guilt slammed on the country E\ HWKLFDO GHÀFLW LQ GHOLYHU\ SURFHVV RI WKH elections.

With general disenchantment over the conduct of the 2023 Nigerian general elections by over 145,000 national and foreign observers deployed across the country, INEC failed to leave a split opinion on its capacity to conduct a free, fair and credible elections, a development that will hunt Mahmood Yakubu, Muhammadu Buhari and Nigeria for a long time to come.

The exercise was not only a horrendous phenomenon on the psyche of Nigerians but D ÁHHWLQJ QLJKWPDUH A consensus negative opinion on the ÁDZHG HOHFWLRQV E\ (XURSHDQ 8QLRQ $IULFDQ 8QLRQ (FRQRPLF &RPPXQLW\ RI :HVW African States (ECOWAS), Commonwealth, The International Republican Institute (IRI), National Democratic Institute (NDI), Joint Election Observation Mission (IEOM), four former African presidents, and Transition 0RQLWRULQJ *URXS 70* LV DQ D΀UPDWLRQ of global skepticism about Nigeria’s reputation. They all concluded that the electoral process lacked transparency, which encouraged manipulations and undermined YRWHUV· FRQÀGHQFH 7KLV WUXVW GHÀFLW ZDV DOVR KLJKOLJKWHG

by Chatham House when it declared that INEC had learnt nothing from its past IDLOXUHV 6SHFLÀFDOO\ LW VDLG ´7KH ,1(&·V performance and controversies over these results mean that the electoral reforms and lessons declared to have been learned were not fully applied and, as an electoral body, LW ZDV VLJQLÀFDQWO\ OHVV SUHSDUHG WKDQ LW claimed.”

As a consequence of these opinions, President Buhari might have missed the opportunity to etch his name in gold over his failure to provide a secured and enabling environment for free, fair and credible HOHFWLRQV $V &RPPDQGHU LQ &KLHI RI WKH Armed Forces, he failed to optimally use KLV R΀FHV LQFOXGLQJ HͿHFWLYH GHSOR\PHQW of the police, army, DSS, and other security agencies to protect voters during the elections.

1LJHULDQV ZHUH PRUWLÀHG E\ KRUUHQGRXV

images of election violations, and no rationalization could justify such criminal acts. An election where about 27 persons were killed nationwide over violence, ballot snatching, thuggery, voters’ suppression, ethnic bigotry, use of tribal gods and deities, even in the presence of security operatives in some instances, can only be a national shame.

Besides, whatever is left of Buhari’s legacy might have been further weakened by the naira redesign and currency swap policy which brought untold hardship to citizens during period of the elections. Perhaps, the intention of the policy was to eliminate monetary inducement and vote buying, unfortunately, Buhari and the Central %DQN *RYHUQRU *RGZLQ (PHÀHOH ZHUH outwitted by politicians through use of H[WUD FRQVWLWXWLRQDO DQG SURFHGXUDO PHDQV to contrive and achieve sinister objectives.

For the INEC Chairman, Mahmood Yakubu, there might be no second opportunity. With a budget of over N305 billion and other sundry support, he had no reasons to have failed. Yakubu gave assurances in both local and international events, including Chatham House, of his Commission’s preparedness, pledging that with use of technology, including Bimodal Voter Accreditation System (BVAS), results ZRXOG EH WUDQVPLWWHG LQ UHDO WLPH WR ,1(& Result Viewing Portal (IReV).

These assertions receded into irrelevance when INEC failed to comply with the Electoral Act and its own guidelines. The Electoral Act, 2022, requires INEC to upload the elections of polling units in its portal as stipulated in Section 60 (5) and Clause 38 of the INEC Regulations and Guidelines.

6SHFLÀFDOO\ &ODXVH RI WKH ,1(& Regulations and Guidelines for the Conduct RI (OHFWLRQV VWDWHV ´8SRQ FRPSOHWLRQ RI DOO WKH 3ROOLQJ 8QLW YRWLQJ DQG UHVXOWV SURFHGXUHV WKH 3UHVLGLQJ 2΀FHU VKDOO L Electronically transmit or transfer the result RI WKH 3ROOLQJ 8QLW GLUHFW WR WKH FROODWLRQ system as prescribed by the commission.

LL 8VH %9$6 WR XSORDG D VFDQ RI (6 $ WR INEC Result Viewing Portal (IReV), as prescribed by the commission. (iii) Take the BVAS and the original copy of each RI WKH IRUPV LQ WDPSHU HYLGHQW HQYHORSH

to the Registration Area/Ward Collation 2΀FHU LQ WKH FRPSDQ\ RI VHFXULW\ DJHQWV The polling agents may accompany the 3UHVLGLQJ 2΀FHU WR WKH 5$ :DUG &ROODWLRQ Centre.” :LWK QRQ FRPSOLDQFH DQG GHYLDWLRQ IURP these regulatory provisions, INEC opened the electoral process to manipulations, UHVXOWLQJ LQ ODFN RI MXVWLFH DQG IXOÀOPHQW IRU voters.

These violations have exposed existential gaps in the capacity of Mahmood Yakubu to GHOLYHU RQ D VLJQLÀFDQW QDWLRQDO DVVLJQPHQW This might cast aspersion on his capabilities.

Indeed, this election is a minus for his SURÀOH DV QR JRYHUQPHQW RU DQ\ VHULRXV organisation may want to bequeath him with such responsibilities in future.

8QIRUWXQDWHO\ WKH 3UHVLGHQW HOHFW %ROD 7LQXEX LV D SURGXFW RI ,1(&·V ÁDZHG process, and this has triggered legitimacy challenge that is further fueled by lean number of votes secured at the election relative to total votes cast. Tinubu polled 8.87 million (the least by any presidential candidate since 1999), representing 36.61 per cent of total votes, and 10.08 per cent of all eligible voters. Out of approximately 93 million registered voters, only about 25 million, representing 28.63 percent, actually turned out to vote.

Implicitly, Bola Tinubu was not only elected by minority voters when viewed against 25 million persons that voted, and in a country of over 200 million people, skepticism resulting from INEC’s multiple irregularities are unhelpful to his presidency.

Perhaps, this accounts for the absence of national pomp and celebration that would have heralded his victory.

Without prejudice to outcome of current litigation, going forward, Bola Tinubu should activate his social capital to open XS FKDQQHOV DFURVV WR LQÁXHQWLDO JURXSV and personalities in the country, including his political rivals aimed at legitimizing his presidency, and achieving unity through IRUPDWLRQ RI DOO LQFOXVLYH JRYHUQPHQW ,1(&·V SHUIRUPDQFH KDV DOVR UXEEHG RͿ on Nigeria’s image as a corrupt country.

Through the foreign observers, perception of the international community about Nigeria as a corrupt country might have worsen on account of their opinions over lack of transparency and operational failures that characterized INEC’s performance.

In the 2022 Transparency International (TI) Corruption Perception Index (CPI), Nigeria was ranked 150 out of 180 countries, and also placed as second most corrupt country in West Africa. By INEC’s standard and performance, it has unwittingly further FRQÀUPHG 1LJHULD DV D FRUUXSW FRXQWU\ DQG deepened global negative impressions. · Dr Owhoko, Lagos-based journalist and author, can be reached at www.mikeowhoko.com.

T H I S D AY

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WEDNESDAY APRIL 5, 2023

Nigeria ranks low in the Internet value index, writes SONNY ARAGBA-AKPORE

NIGERIA AND THE GLOBAL INTERNET INDEX Despite the robust growth recorded 2023, suggesting that 44.6 percent of for internet connectivity in Nigeria, the WKH SRSXODWLRQ UHPDLQHG R΁LQH DW WKH country still ranks low in global internet beginning of the year.

However, complexities associated with value index.

2I WKH FRXQWULHV SURÀOHG 1LJHULD the collection and analysis of internet ranks 109 on the index. Sixty one percent or user data mean that it can often take ÀYH ELOOLRQ RI WKH JOREDO SRSXODWLRQ LV VDLG several months before research is ready for to be handicapped in terms of payments publication. As a result, the latest published for internet services above global average. ÀJXUHV IRU LQWHUQHW XVH LQYDULDEO\ XQGHU This part of the population spends more represent reality, and actual adoption and JURZWK PD\ EH KLJKHU WKDQ WKH ÀJXUHV for poor internet connections.

SurfShark reports that “People living shown here suggest.

DataReportal also states that Nigeria in countries with an internet value index

above the global average of 0.0729 are was home to 31.60 million social media classed as having fair internet prices. In users in January 2023, equating to 14.3 contrast, countries below the average are percent of the total population.

A total of 193.9 million cellular mobile considered to have overpriced internet.

The index itself measures internet value in connections were active in Nigeria in early ZLWK WKLV ÀJXUH HTXLYDOHQW WR countries and regions from zero to one.

Only four out of 10 people get their percent of the total population.

DataReportal reports that 10 countries internet at fair prices, while the remaining 61%, living in countries with indices below stand out in terms of internet connectivity the global average, overpay for what they in Africa in terms of internet penetration.

Nigeria, for instance, had 109.2 million JHW ² WKDW·V DOPRVW ÀYH ELOOLRQ SHRSOH µ In terms of regional position, Nigeria internet users as at January 2022 and ranks 16th with its index, 56per cent penetration stands at a little over 51.0 per lower than Africa’s average. Nigeria cent of the total population.

There were 75.66 million internet users is in 12th place in sub-Saharan Africa.

Countries such as South Africa and Ghana in Egypt the same period with penetration ranked 70th and 105th respectively both rate standing at 71.9 per cent of the population. overpaying for the internet they get.

South Africa had 41.19 million internet IVi is calculated by dividing each country’s internet speed by internet users and a penetration of 68.2 per cent of DͿRUGDELOLW\ WR GHWHUPLQH ZKLFK FRXQWULHV the population.

There were 31.59 million internet users are overpaying for their internet. According to Surfshark’s data, Nigeria ranks 109th in Morocco same period and penetration globally with an index of 0.0017, which rate stood at 84.1 per cent of the total is 44 times lower than the global average, population. There were 29.83 million meaning Nigerians are overpaying for internet users in Ethiopia and penetration the internet they get compared to other rate stood at 25.0 per cent of the total population. countries worldwide.

There were 27.28 million internet users In Africa, four out of 10 people can access the internet at a fair price. South Africa is in Algeria and internet penetration rate the outright leader, with Egypt ranking stood at 60.6 per cent of the population.

There were 23.35 million internet users in second, followed by Morocco.

On the other side of the scale, Zimbabwe Kenya and penetration rate stood at 42.0 and Uganda are the lowest-ranking per cent of the total population.

There were 16.99 million internet users African countries, followed closely by Cameroon. DataReportal reports that in Ghana in January 2022 and internet there were 122.5 million active internet penetration rate stood at 53.0 per cent of the users in Nigeria in January 2023. And the population. DR Congo had 16.50 million penetration rate stood at 55.4 percent of the internet users and penetration rate stood total population at the start of 2023. Kepios at 17.6 per cent of the total population. In analysis indicates that internet users in Tanzania, there were 15.60 million internet Nigeria increased by 2.9 million between users and penetration rate stood at 25.0 per cent of the total population.

2022 and 2023. ,Q FOHDU WHUPV WKHVH XVHU ÀJXUHV UHYHDO Aragba-Akpore that 98.63 million people in Nigeria is a member of THISDAY Editorial Board did not use the internet at the start of

UCHE NNADOZIE writes the initiative was helpful in a period of acute naira scarcity

SANWO-OLU’S TRANSPORT PALLIATIVE 2Q )HEUXDU\ /DJRV 6WDWH *RYHUQRU Therefore, it’s evident that the Babajide Sanwo-Olu announced a 50 state government must have spent percent reduction in the fares of all state- a lot of money to assist families go owned transport services including through one of the toughest times /DJ)HUU\ /DJ5LGH DQG WKH %57 7KH Nigerians have experienced in the SULFH VODVK DOVR DͿHFWHG WKH PLQL ODVW past 20 years. mile buses.

The state government under The governor equally announced a Governor Sanwo-Olu was proactive, support programme for the vulnerable innovative and foresighted in segments of the society. coming up with the subsidy.

This support programme was made $V D NLQG SXEOLF R΀FLDO WKH /DJRV up of a package containing food items governor has shown the humane ranging from garri to rice; beans to nature that informs his choices in beverages, among others. public policy execution.

Both initiatives were to last for two That programme, which came to a weeks only; which means it was billed to close on April 1, is a classic example end on February 21 - a few days before of what a listening government the presidential election scheduled for should be. the 25th.

It’s not out of place to see that There was no doubt that the palliative many people would want the was well conceived and received. Many palliative to become permanent, but, persons, because of the dire scarcity of it’s good enough that they extended

funds at the time, could not fault the WKH SURJUDPPH IRU DQRWKHU ÀYH intervention. Even political actors could weeks and four days. Every good QRW ÀQG D MXVWLÀDEOH PRWLYH WR RSSRVH thing must come to an end somehow. the laudable project.

Generosity of spirit exhibited And there is no doubt that the by the government should be palliative on transportation clearly encouraged at moments of national DVVLVWHG PDQ\ /DJRVLDQV WR FRSH ZLWK crisis. But we (the people) should not the excruciating pain of having money, take it for granted. We should also but not having access to it. Going to not ask for what is too much for the work became a burden; transporting government to bear. Transportation kids to school became even more is big business, there’s no way the cumbersome. government can continue to shoulder Yours truly, is one of the hundreds the burden by that percentage.

RI WKRXVDQGV RI EHQHÀFLDULHV RI WKDW Even at normal rates and normal laudable project. Commuting became times, the state government still pays a lot easier whether on BRT buses or grants (more like subsidy) to BRT WKURXJK WKH /DJ5LGH FDU KDLOLQJ VHUYLFH franchises for the rates to remain at 7LPHV ZHUH ZKHQ , ZDV RͿ URXWH RI WKH what it was before February 8. %57 IUDQFKLVH DQG WKH /DJ5LGH FDPH For now, the government has done to my rescue. This is more so because well and should be commended other hailing franchises were charging fully. Happily, the reasons for the IDU DERYH WKH JRLQJ UDWH RI /DJ5LGH commendable palliatives to be ZKHUHDV IRU /DJ5LGH LW ZDV HYHQ D instituted are progressively being 50% slash. So a journey that probably resolved. More cash has been injected cost ଂ3,000, went for ଂ ,500. Other car into the system and petrol queues hailing options were charging up to are almost gone. It’s time to return ଂ4,000 per trip at the time. to pre-February 8 because things are Bus fare which was hitherto ଂ400 per also returning to normal! trip was slashed to ଂ200. Apart from the Naira scarcity, petrol stations were equally empty, thereby compounding Nnadozie mobility hiccups at the time. writes from Lagos

26 4

T H I S D AY

WEDNESDAY APRIL 5, 2023

EDITORIAL

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

STATES AND MOUNTAINS OF DEBTS The current challenge calls for creative resource management

W

hile decentralisation of government ordinarily presupposes that the nearer such institution is to the people the better, that has not been our experience. The unanswered question remains: How much development have the 36 states brought except the creation of a multiplicity of agencies that are neither accountable to the people nor serve their interests? In most cases, there are no roads, no provision of clean water for the rural folks who walk long distances to fetch water, no electricity, no medical facilities for the sick, and no schools for their children. To compound the problem, recent VWDWLVWLFV IURP WKH 'HEW 0DQDJHPHQW 2΀FH '02 indicate that many of the states are also neck-deep in debt accumulation.

In its December 2022 update, the World Bank revealed that states’ debts would increase above 200 per cent of the revenue generated in 2022 and 2023. According to the report, debt levels for an average state are estimated to rise from 154.6 per cent of revenues in 2021 to over 200 per cent of revenue in 2022 and 2023. Meanwhile, Nigeria’s total debt stock is projected to hit about N77 trillion in 2023, according to the DMO’s Director-General, Patience Oniha. But the main concern is about the states where new governors are not going to inherit not only empty treasuries but also mountains of both domestic and IRUHLJQ GHEWV 7KHVH VXE QDWLRQDO GHEWV DUH FODVVLÀHG into domestic borrowings from local creditors and external borrowings from foreign creditors like the World Bank.

Incidentally, the 2018 introduction of the World Bankassisted States Fiscal Transparency and Accountability 3URJUDPPH 6)7$6 ZDV WR QXGJH VXE QDWLRQDO JRYHUQPHQWV LQWR LPELELQJ ÀVFDO WUDQVSDUHQF\ DQG tame their appetite for indiscriminate borrowing.

Unfortunately, the programme has not worked.

How these states will survive in the face of the LQFUHDVLQJO\ DVSK\[LDWLQJ ÀVFDO VTXHH]H H[DFHUEDWHG

E\ SRRU UHYHQXH JHQHUDWLRQ SUHVHQWV D MLJVDZ SX]]OH Sadly, most of the debts already incurred for future generations of Nigerians are expended on projects that bring little or no returns on investment.

7KH 1LJHULD *RYHUQRUV· )RUXP 1*) WKH XPEUHOOD body for the 36 states governors, admitted recently WKDW PRVW VWDWHV ZHUH DOUHDG\ H[SHULHQFLQJ ÀVFDO stress and that continued decline in their revenue from the federal purse might cause crisis in meeting their recurrent expenditures. Many states are not only owing backlog of workers’ salaries and pensions, but they are also yet to implement the National Minimum Wage of N30,000 signed into law since 2019. This is GHVSLWH WKH VWDJÁDWLRQ LQ WKH ODQG ZKLFK KDV SXVKHG the cost of goods and services beyond the reach of majority of Nigerians.

Regrettably, despite the misery at their doorsteps, many of the governors are yet to adjust to the prevailing realities as they continue to indulge in ostentatious lifestyles, and investing scarce public funds on frivolities. They still funnel public funds to political activities while the burial and wedding FHUHPRQLHV RI IDPLO\ PHPEHUV RI WRS SXEOLF R΀FHUV are turned into state carnivals at huge cost. Ironically, while the humongous debts hang precariously on the neck of these states, some of them are preping to borrow more. We believe that the current challenge does not call for more borrowing, but rather creative resource management and potent revenue generation drive. ,QGHHG WKH ULVLQJ GHEW SURÀOH UDLVHV VHULRXV FRQFHUQV as most of the states have feeble revenue base. But federal bailout and emergency handouts will not chase away the problem. Nor will mass retrenchment help in an economy where unemployment and plain poverty have reached emergency dimensions. What the situation calls for is a serious re-think of the IXQGDPHQWDO DVVXPSWLRQ RI RXU ÀVFDO DUUDQJHPHQWV The feeding bottle mentality must begin to give way to D EHWWHU SXEOLF ÀQDQFH PDQDJHPHQW V\VWHP DQFKRUHG on result-oriented revenue generation mechanism.

Most of the debts already incurred for future generations of Nigerians are expended on projects that bring little or no returns on investment 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

CONSCIENTIOUS CARE FOR THE ELDERLY The United Nations marks the International Day of Conscience on April 5. Nigeria has to improve its treatment of the elderly.

Life comes in a natural cycle. There is conception, birth, childhood, adulthood and then old age. Each of these stages is marked by its peculiarities and uncertainties, when they meet, they make for all that is unpredictable about life.

In a developing low-income country like Nigeria, where life is much tougher than in other places, negotiating each stage of life comfortably or otherwise depends on the level of support one has. The stronger one’s support network, the easier it will be to surmount many obstacles and keep going.

However, without a strong support base, each stage of life can SURYH PRUH GL΀FXOW WKDQ WKH ODVW 7KH F\FOH RI OLIH VRPHWLPHV abandons its cyclical shape to become linear. At both ends are found the two stages where every human being is most vulnerable: childhood and old age.

The predicament of children In Nigeria is well documented. )RU WKH FKLOGUHQ ZKR OLYH WR VHH WKHLU ÀIWK ELUWKGD\ WKHUH DUH many more who don’t make it, no, thanks to infant and maternal mortality. In Nigeria—a country where 20 million children are out of school—many children have their childhood stolen from

them before they are old enough to savour it. Many set out on a life of pain that meanders all the way to old age, where end-oflife challenges mount.

Life expectancy is low in Nigeria. Popular Nigerian culture regards old age as a blessing, and it is for those who survive many life-threatening situations in Nigeria to make it. Many do not make it and those who do are often powerless to avoid the friction that comes from a resentment of the old by the young in Nigeria.

The preamble to the Universal Declaration of Human Rights states that “disregard and contempt for human rights have resulted in barbarous acts which have outraged the conscience of humankind, and the advent of a world in which human beings shall enjoy freedom of speech and belief and freedom from fear and want has been proclaimed as the highest aspiration of the common people.” Moreover, article 1 of the Declaration states that “all human beings are born free and equal in dignity and rights and are endowed with reason and conscience and should act towards one another in a spirit of brotherhood.”

How can Nigeria ensure that its elderly people are treated conscientiously? First, Nigeria must strengthen the legal framework that protects the elderly and ensure that they live their last

days with dignity.

Elderly people have the right to be free from discrimination.

This right means they can enjoy education, own property, work and participate in government.

On February 10, 2021, the National Executive Council presided over by President Muhammadu Buhari approved a national policy on care of the elderly with the objective being a society ZKHUH VHQLRU FLWL]HQV DUH JXDUDQWHHG VHFXULW\ LQGHSHQGHQFH SDUWLFLSDWLRQ FRPSUHKHQVLYH FDUH VHOI IXOÀOPHQW DQG GLJQLW\ Earlier, in 2018, Buhari had signed into law the National Senior &LWL]HQV $FW ZKLFK HVWDEOLVKHG 1DWLRQDO 6HQLRU &LWL]HQV &HQWHU WR FDWHU IRU WKH QHHGV RI VHQLRU FLWL]HQV L H WKH HOGHUO\ The fear however in a country where so many policies and laws have not prevented impunity is that the elderly risk falling through the cracks despite the legislations that seemingly protect them. This Nigeria must address with urgency.

A country that aspires to prominence in the comity of nations must be seen to be doing all it can to ensure that all those at each spectrum of life are as comfortable as possible.

Ike Willie-Nwobu, Coordinator/President International Federation on Ageing-Nigeria

T H I S D AY ˾ WEDNESDAY, APRIL 5, 2023

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BUSINESSWORLD R A T E S MONEY MARKET

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

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Nigerian Equities Market Attracted $19.2bn Investments in Five Years

Kayode Tokede As foreign investors take a position in low-priced stocks, the Nigerian equities market attracted a total of $19.2 billion (N8.83 trillion) in Foreign Direct Investment between 2018 and 2022, a report by the National Bureau of Statistics (NBS).

The figure represents 31.2 per cent out of $61.46 billion total capital importation into the country in the period under review.

Analysis of the NBS numbers showed that the year 2022 recorded the highest decline in FDI, followed by 2021.

Analysts attributed this to domestic economy challenges such as scarcity of foreign exchange, and

political uncertainty, among others.

Further analysis showed that in 2022, the stock market attracted $469.42 million out of total $5.33 billion capital inflow into the nation’s economy.

The reported $469.42 million inflow into the stock market is a decline of about 57.08 per cent when compared to $1.09 billion inflow into the stock market in 2021.

According to the NBS, FDI importation into the stock market stood at $1.85 billion in 2020, contributing about 19.1 per cent out of the $9.68 billion capital inflow into the nation’s economy.

In addition, capital inflow into the stock market stood at $5.33 billion and $10.43 billion in 2019

and 2018 respectively.

However, analysts believe FPIs commitment in Nigeria is on downward trend, attributing it to foreign exchange volatility and the political situation in the country.

Commenting, the Chief Executive Officer, Wyoming Capital and Partners, Mr. Tajudeen Olayinka, noted that, “The Foreign Portfolio Investment in equity is declining because of the exchange rate management.

“A situation of multiple exchange rate regime cannot give room for proper allocation of resources in the economy. This is one of the macroeconomic factors that have made it difficult for Nigeria’s economy to adjust to full

employment output and external balance over the years.

“This situation may improve in the coming years with an administration that has preference for private sector dominance.”

On his part, the Vice Chairman, Highcap securities Limited, Mr. David Adonri, noted that, “There is a foreign exchange rate risk attendant to foreign portfolio investment.

Persistent depreciation of the local currency in recent past is capable of heightening exchange rate risk leading to loss on investments.

“Secondly, foreign portfolio investors’ confidence was eroded by their inability to remit proceeds of their investments. Finally, FPIs are sensitive to socio-political events. Few

of the investors who have taken the risk arising for the political tension are investing in Fixed Income.”

Looking into 2023, a capital market analyst, Mr. Rotimi Fakeyejo said, “The political tension in Nigeria even with the conclusion of the general election is still not over and it continued to threaten the safety of their investments, hence their low confidence in the economy.

“If the new administration in 2023 are able to make the market attractive, we would begin to see foreign investors back to the market.”

We have constantly seen reduction in foreign portfolio investments over the years and it is likely that the situation may change once the new administration gets things right in

the Nigerian economic management system.”

He highlighted that issues such as exchange rate, capital importation and corporate governance among others continued to discourage foreign inflow.

“Until foreign investors see concrete policies and effort to correct some of these anomalies, domestic investors will continue to carry the market,” he added.

Meanwhile, further analysis showed that the banking sector attracted in $16.97billion in five years under review.

The figure represents 27.6 per cent of the total capital importation Continued on page 28

Again, Cash Crunch Induces Lower Productivity in Private Sector Dike Onwuamaeze Productivity in the private sector of the Nigerian economy witnessed an increasing deterioration in March 2023 as cash crisis in Nigeria caused a steep drop in business activities by rendering individuals and households unable to pay for goods and services.

This was revealed in the March

edition of the Stanbic-IBTC’s Purchasing Managers’ Index (PMI), which stated that Nigerian companies registered a decline in purchasing activity again in March as business condition deteriorated during the month and caused output to decline to 42.3 points when compared to 44.7 points that was recorded in February 2023.

Moreover, output, according to the PMI report, “was down across each of the four broad sectors covered by the survey.”

The Stanbic-IBTC said that PMI’s readings above 50.0 signaled an improvement in business conditions on the previous month while readings below 50.0 showed deterioration.

The report stated, “headline

PMI posted 42.3 in March from 44.7 in February, moving further below the 50.0 no-change mark and signaling sharper deterioration in business conditions in the Nigerian private sector. The decline was the most pronounced since the survey began in January 2014, apart from at the time of the outbreak of the COVID-19 pandemic in 2020.”

According to the Head of Equity Research West Africa at Stanbic IBTC Bank, Mr. Muyiwa Oni, “the headline PMI posted 42.3 in March from 44.7 in February, moving further below the 50.0 no-change mark and signaling sharper deterioration in business conditions in the Nigerian private sector. The decline was the most pronounced since the survey

began in January 2014, apart from at the time of the outbreak of the COVID-19 pandemic in 2020.”

Oni added: “The cash crisis in Nigeria continued to have a severe impact on business conditions in the private sector during March.

In fact, output and new orders fell Continued on page 28

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

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

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

Yield

BILLS MATURITY

Discount

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

3.01

NTB 11May-23

3.23

3.01 2.21 3.20

3.27

OTC F X F U T U R E S

CPS

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

Yield

6, 0.00 January 2023

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

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

Discount Yield

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

28

WEDNESDAY, APRIL 5, 2023 ˾ T H I S D AY

BUSINESSWORLD

STATUS REPORT

UBA Wets Investors’ Appetite with Impressive Performance Across Major Indicators

Kayode Tokede

U

nited Bank for Africa in its 2022 financial year report and accounts for period ended December 31, 2022 showed an impressive performance over the period across major indicators.

The pan-African financial institution reported significant increase in key profit & loss figures, balance sheets that eventually impacted on key financial ratios in the period under review.

The group gross earnings grew by 29.23per cent to N853.17 billion in 2022 from N660.222billion in 2021, majorly driven by the 17.48per cent and 28.77per cent growth in both interest income and non-interest income.

This was propelled by interest income on loans and advances to banks, which rose by 72.21per cent to N37.50 billion, while interest on loans to customers (corporates & individuals) also recorded a marginal increase of 4.44per cent to N263.08 billion.

Similarly, interest expense came in higher by 12.77per cent to N177.66 billion in 2022 from N157.55billion in 2021, due to the 25.25per cent increase in deposit from customers to N130.31 billion, while lease liabilities rose significantly (88.77per cent to N1.26 billion) in the period under review.

Net-interest income closed 2022 at N379.49billion, an increase of 20 per cent from N316.71billion in 2021 as the net interest margin (NIM) expanded to 5.61per cent in 2022 from 5.57per cent in 2021.

Nevertheless, UBA, historically in 2022 has a very prudent risk management framework as the group increased provisioning to account for the increasingly challenging macro environment across its regions of operations.

The group announced N19.67billion impairment charge for credit losses on loans in 2022 from N9.85billion in 2021.

For non-interest income, UBA recorded strong growth in electronic banking income as the management leveraged on state-of-theart-technology to broaden and deepen payment solutions, and transaction volumes in the period under review.

Non-interest income hits N213.43billion in 2022 from N126.28billion in 2021.

Elsewhere, Operating expenses (OPEX) grew 25.6 per cent to N350.39billion in 2022 from N278.99billion in 2021, primarily on personnel cost, staff salaries reviewed upwards as part of broad measures to retain talent.

Employee benefit expenses increased to N113.99billion in 2022 from N93.24billion in 2021, while Other operating expenses hits N210.18billion in 2022, an increase of 29per cent from N163.04billion in 2021.

As a result, operating efficiency deteriorated slightly as the group’s cost-to-income ratio rose by 93basis points to 59.1per cent in 2022 from 62.7 per cent in 2021.

UBA closed the year under review with a profit before tax of N200.88billion, an increase of 31.2 per cent from N153.07billion in corresponding year. Profit after tax gained 44 per cent to N170.3billion in 2022 from N118.7billion in 2021.

The management proposed a final dividend of N0.90 per share (December 31, 2021: N0.80 per share) from the retained earnings account as at December 31, 2022.

This proposed final dividend and the N0.20 per share interim dividend paid in September

2022, brings the total dividend for the year to N1.10, amounting to a pay-out ratio of 29per cent (December 31, 2021: 29pper cent), and a yield of 10.7per cent.

Considering the challenging operating environment, this performance is considered to be a very healthy and commendable one.

UBA’s balance sheet remains robust as total assets nears N11trn The group’s balance sheet position remained stronger, driven largely by growth in investment securities, customer loans and placements.

Total assets closed 2022 at N10.86trillion, an increase of 27.1per cent from N8.54trillion reported in 2021 financial year.

Similarly, net loans grew by 21.4 per cent growth to N3.44 trillion in 2022 from N2.83trillion in 2021, whilst customer deposits rose by 23 per cent to N7.82 trillion in 2022 compared to N6.37 trillion in the corresponding period of 2021, reflecting increased customer confidence, enhanced customer experience, successes from the ongoing business transformation programme and the deepening of its retail banking franchise.

Overall, asset quality continued to show a positive trend, as the NPL (non-performing loan) ratio declined to 3.1per cent in 2022 from 3.6per cent in 2021 and was below the statutory limit of five per cent.

The reported NPL ratio is one of the lowest since 2018 as the Group maintained an effective mechanism in loan recovery.

CONCLUSION

Group Managing Director/CEO, Oliver Alawuba, said “notwithstanding the tight

and challenging operating environment, UBA continues to deliver significant performance.

“Our record earnings, growth, and robust capital levels supported higher returns for the shareholders. The Group is on course to achieve its strategic goals, and we are confident we will deliver our targets.

“We have navigated unprecedented macroeconomic headwinds and made significant gains in our diversification strategy and Customer 1st philosophy as we build resilience in our operations across Africa and the Rest of the World to support the mission of providing superior value to our stakeholders.”

On the outlook for 2023, he said, “we are strategically positioned to increase our market share in our countries of presence, with expansion to Dubai, United Arab Emirates and strong growth of our digital banking and payment businesses, which is pivotal to the evolving cashless economy in Nigeria.

“We strive to deliver increasingly attractive returns to our shareholders and continued positive impact in the geographies and economies in which we operate.”

UBA’s Executive Director, Finance and Risk Management, Ugo Nwaghodoh, said going by this recent performance, the bank remains on strong footing and is comfortably positioned to take on more opportunities in Nigeria, Africa and beyond.

“We are delighted with the strategic progress we have made in FY22 riding on our customers’ trust, the dedication of our people, and the support of our wider partners and stakeholders. The bank remains committed to its business development drive, prudent risk management practices, and we are optimistic to deliver best value for our stakeholders in the days ahead,” he noted.

AGAIN, CASH CRUNCH INDUCES LOWER PRODUCTIVITY IN PRIVATE SECTOR

more quickly than in February, while staffing levels and purchasing activity were scaled back again.”

He also noted that, “while input costs and output prices continued to rise sharply, rates of inflation softened. Output prices increased at the softest pace in almost three years.

Meanwhile, suppliers’ delivery times shortened after having lengthened in February.

“Companies reduced staffing levels slightly for the second

month running, in part reflecting lower workloads but also due to difficulties paying wages. Lower workforce numbers limited the pace of staff cost inflation, which eased to a marginal rate that was the slowest since January 2021.

“The cash crisis acted to dampen confidence in the private sector in March, with sentiment the second lowest in the series history. Where output was predicted to rise, panelists linked this to investment intentions

and business expansion plans.”

The report added, “The case in February, the cash crisis in Nigeria caused a steep drop in business activities during March as customers were unable to pay for goods and services. Furthermore, the rate of contraction accelerated from the previous survey period and was the third-fastest on record, behind only those seen during the opening wave of the COVID-19 pandemic.

Output was down across each of

the four broad sectors covered by the survey.”

Similar to the picture for business activity, the report showed that “the rate of contraction in new orders quickened in March amid the cash crisis. New business decreased to the greatest extent since May 2020.

More than 34 per cent of respondents signaled a drop in new business over the month, with just 10 per cent posting a rise.”

However, the PMI said that there

were some signs of recovery in new export orders at the end of the first quarter as new business from abroad rose slightly following a sharp decline in the previous month. “Companies reported that international demand had improved,” the report said.

But Nigerian companies scaled back employment for the second month in a row during March. The PMI remarked that, “although slight, the fall in employment was sharper

than seen in February and most pronounced since January 2021.

According to respondents, falling staffing levels reflected a combination of lower workloads and difficulties paying wages.”

The report also showed that period under review was also characterised by, “falling sales and a lack of money to pay for goods,” which meant that Nigerian companies registered a decline in purchasing activity again in March.

with $308.72 million or 29.10 per cent.

It was followed by Standard Chartered Bank Nigeria Limited,

which attracted $232.45 million or 21.91 per cent and Rand Merchant Bank with $102.00 or 9.62 per cent.

NIGERIAN EQUITIES MARKET ATTRACTED $19.2BN INVESTMENTS IN FIVE YEARS into the country in the five years period. The analysis is, however, based on sectoral disintegration, implying that the amount cuts

across both portfolio and direct investments.

Within the five years period leading to December 2022, about

$2.08 billion came into the country via banking sector category as against $1.46 billion reported by NBS in 2021.

According to NBS, categorization of capital importation by banks shows that Citibank Nigeria Limited ranked top in fourth quarter of 2022

T H I S D AY ˾ WEDNESDAY, APRIL 5, 2023

29

BUSINESSWORLD

PERSPECTIVE

Omiyi, Seplat: X-raying Independence of Independent Chairman Victor Usen

THE CONCEPT OF INEDS

A

ccording to Investopedia, Independent Non-Executive Directors (INED), also known as outside directors and external directors are generally appointed to a company’s Board as independent advisors in planning and policymaking due to their wealth of experience in a particular industry, their reach or contacts, and their public standing.

They are not employees of the company, hence, do not engage in the day-to-day running of the firm. Because they do not hold managerial positions, they are usually better situated to appreciate the company’s interest with greater objectivity; very much, unlike the Executive Directors, who may be grappling with an agency problem or conflict of interest, turn between management and shareholders. They challenge the direction and performance of the firm and its team.

They monitor the Executive Directors in the overall interest of the company and its stakeholders.

Accordingly, Principle 7 of the Nigerian Code of Corporate Governance sums it up when it explicitly states that “Independent Non-Executive Directors (INED) bring a high degree of objectivity to the Board for sustaining stakeholder trust and confidence”.

CODES/PRINCIPLES GUIDING INED As the Latin saying goes, “Uxorem Caesaris tam suspicione quam crimine carere oportet” (Caesar’s wife should be free from suspicion, as well as from accusation). Thus, like Caesar’s wife, INED are expected to embody key values, including integrity and objectivity to be able to perform optimally.

Consequently, the Financial Reporting Council of Nigeria produced “The Nigerian Code of Corporate Governance 2018”, (NCCG) which, among others, seeks to institutionalise corporate governance best practices in Nigerian companies and promote ethical practices that will boost the integrity of the Nigerian business environment.

Section 7.1 of the Code outlines the irreducible minimum for INED when it clearly states that “An Independent NonExecutive Director (INED) should represent a strong independent voice on the Board, be independent in character and judgment and accordingly be free from such relationships or circumstances with the Company, its management, or substantial shareholders as may, or appear to, impair his ability to make independent judgment”.

To be able to live up to the above, Section 7.2 goes further to list strigent conditions to qualify as an INED. It states, among others, that an INED is one who: does not possess a shareholding in the Company the value of which is material to the holder such as will impair his independence or in excess of 0.01% of the paid up capital of the Company; does not receive, and has not received additional remuneration from the Company apart from a Director’s fee and allowances; is not a representative of a shareholder that has the ability to control or significantly influence Management; is not a close family member of any of the Company’s advisers, Directors, senior employees, consultants, auditors, creditors, suppliers, customers or substantial shareholders.

Importantly also, to prevent an INED from becoming too entrenched, Section 12.10 explicitly provides that “The tenure for INED should not exceed three terms of three years each”.

HOW INDEPENDENT IS SEPLAT’S CHAIRMAN OMIYI AS INED? Several issues have recently arisen that has put the independence of Seplat’s INED, including the Independent Chairman, Mr. Basil Omiyi to both test and question.

Omiyi Nigerians were shocked over the news that the visa, residence permit, and work permit of Seplat Energy’s Chief Executive Officer (CEO), Mr. Roger Brown, had been revoked by the Federal Government of Nigeria sequel to lack of having appropriate work permits and the allegations of racism, favouring of foreign employees, bullying, discrimination against Nigerian workers at the company, breach of the Nigerian Code of Corporate Governance, among other weighty issues against the British CEO by the Nigerian workers in the company.

The federal government said that “Testimony was received from several witnesses, which supported the allegations” The FG said it also discovered that Mr. Brown was in possession of a Combined Expatriate Residence Permit and Aliens Card (CERPAC) that was not based on validly issued Expatriate Quota approved by the Ministry of Interior, and by this, grossly violated relevant Immigration Laws and Regulations.

According to the Ministry, as a result of these, “the Honourable Minister has determined that Mr. Brown’s continued stay in Nigeria is contrary to national interest”.

Unfortunately, like the Bourbon kings of the pre-French Revolution, France, the Independent Chairman of Seplat’s Board of Directors, Mr. Basil Omiyi, and his fellow INED have carried on like people who have learned nothing, and have forgotten nothing. They have failed to rise to the occasion or exhibit that independence. They have not only dared the FG by passing a vote of confidence in Mr. Brown, they failed to assuage frayed nerves within the company and among its stakeholders and shareholders. Seplat’s board appears not to mind the volatile and witch-hunting work environment and the big dent on Nigeria’s image that Roger’s return portends.

Little wonder some shareholders of the company did not waste time

in approaching a Federal High Court in Lagos where Justice Chukwujekwu Aneke made an order restraining Roger Brown from parading himself as the CEO of Seplat and the company from dealing with him as one. The court equally restrained Omiyi and the INEPs under him from “continuing to run the affairs of Seplat in an illegal, unfair, prejudicial, and oppressive manner pending the hearing and determination of the Petitioner’s Motion on Notice for interlocutory injunction”.

Instructively, it is recalled that the aforementioned lawsuit by the company’s stakeholders contend that by condoning the unlawful, discriminatory, and abusive conducts of Brown, Omiyi and the INED have “failed in the discharge of their duties and are unfit to continue to function in the Board of Directors of the 1st Respondent (Seplat)”. And a cursory look at the basic international best practices, principles, and the provisions of the The Nigerian Code of Corporate Governance 2018 vis-à-vis the crisis and trust deficit bedeviling the company will leave any objective observer wondering how independent the INED.

PROTESTING HOST COMMUNITIES For instance, the company’s host communities have also joined the fray as they took to the streets of Sapele as well as Seplat’s headquarters in Lagos to protest not only Mr. Brown’s continued stay in office, but to express their displeasure over the fact that whereas Omiyi and Brown neglected to visit their communities to show any form of recognition or respect to them and their leaders as both hosts and shareholders, who invested in the company, but had the time to the bring White South African investors to the company’s facilities in their communties.

They also found it instructive that Omiyi appointed a South African lady into Seplat’s Board shortly after that facility tour without due process. They see it

as part of the plot to sell the company to South African fronts. The questions then are: Why should the CEO and the Independent Chairman take only White South Africans on a tour of Seplat’s oil facilities, leaving out the Nigerian investors contrary to good governance codes? Is an INED not supposed to be protective of a leading Nigerian oil and gas company and its other shareholders?

Worse still, it is worrisome that not only did the infractions for which the FG indicted Mr. Roger Brown happen under the nose of Omiyi as an Independent Chairman, but also most worrisome that he failed to institute an investigation into those grave allegations of racism, etc. The cut was deeper for the staff when their Nigerian Independent Chairman instead threw them under the bus by quickly issuing a statement exonerating the Mr. Brown without investigation, with staff taking to the social media to raise the alarm that they were being coerced to do the same.

Meanwhile, these appear to give credence to a recent claim by civil society organisation, Make a Difference Nigeria (MADI), that Omiyi had been unable to hold Mr. Brown accountable because he too had lost the moral high ground, having overstayed his legitimate tenure of a maximum of nine years as an INED. MADI said that whereas Section 12.10 of the Nigerian Code of Corporate Governance 2018 clearly states that an INED can only serve for a maximum of three terms of three years each (nine years), Omiyi, who was elected as an interim Chairman for one year to oversee the transition from pioneer Chairman and co-founder, Dr. ABC Orjiako, has now spent over 10 years on the Baord and still wants to stay put even after key stakeholders wrote to him to resign. The same applies to another INED, Mr. Charles Okeahelam, who is based in South Africa.

OUTLANDISH COMPENSATION However, how independent can an Independent Chairman in the circumstances Omiyi operates in the company? Whereas it is a fact that INED are usually compensated for their time by equity compensation, cash or fees, depending on the clime, the industry, the size of the company, etc., the question is, can an Independent Chairman earning an outlandish compensation of over $750,000 per annum in addition to other hefty benefits ever bother about holding the CEO and management accountable? Does that comply with the provisions of Section 7.2 of the Nigerian Code of Corporate Governance 2018? Is such excessive ‘compensation’ not enough for an Independent Chairman to fight to stay on even where there are good reasons to resign? Why would a beneficiary of all these not observe table manners, which is that you don’t talk while eating?

Again, Which Independent Chairman or INED for that matter would have his private house at Victoria Garden City (VGC), Lekki, Lagos maintained for him by the company, including supply of diesel and still retain his independence? Which Independent Chairman will have exotic car bought for him by management and still bother about investigating allegations of racism and bullying of Nigerians by a Whiteman in a company that was not only founded and built by Nigerians, but also making huge money from Nigerian oil and gas?

All considered, can Omiyi be said to still “bring a high degree of objectivity to the Board for sustaining stakeholder trust and confidence” as stipulated by Section 7.1 of the Nigerian Code? Is he still in compliance with Principle 7 of the Code?

Obviously, he has lost both the independence and capacity to lead the Board as required by the Code. The honourable thing to do is to take a bow. t 6TFO B QVCMJD BGGBJST CVTJOFTT BOBMZTU XSJUFT GSPN -BHPT

30

BUSINESSWORLD

WEDNESDAY, APRIL 5, 2023 ˾ T H I S D AY

INSURANCE

Insurance Sector Recapitalisation and Foreign Takeovers As Insurance sector regulator considers fresh round of recapitalisation, local investors are worried of losing their stakes in existing insurance firms to their foreign counterparts, writes Ebere Nwoji

R

ecent trend in Nigerian insurance sector seems to suggest that recapitalisation period in insurance sector is a period operating firms in the system are much exposed to foreign investors take overs, starting with equity investments, which would later metamorphose to buyout.

Indeed, a good number of successful or intended recapitalisation exercise in the insurance sector have been marked by subsequent take over of indigenous firms by investors from European market, South Africa and others.

The development has no doubt inflicted fears in the mind of Nigerian investors against imminent take over of their stakes in various insurance firms by their foreign counterparts.

As the National Insurance Commission(NAICOM) mutes another round of recapitalisation in the industry, investors in insurance market are already fidgeting over possible loss of their stakes in the remaining insurance firms.

But NAICOM is more interested in seeing the operating firms doing well with robust capital than foreign or indigenous ownership structure.

NAICOM CONSIDER FRESH RECAPITALISATION

The commissioner for Insurance Mr. Olorundare Sunday Thomas recently announced his intention to embark on another round of recapitalisation that must be brought to a peaceful conclusion.

This is coming on the heels of previous two attempts presided over by his predecessor, Mohammed Kari who during his tenure announced increase in minimum operating capital of operating firms under the tier base capital regime that graded the industry’s capital into tier one, tier two and tier three.

But this met a major resistance from both the operators and local investors under the various shareholders associations.

After this the commission came up with another capital increase exercise tagged minimum share caprital which mandated life operating firms to upgrade their capital from N2 billion to N8 billion, firms on General business were mandated to upgrade their capital from N5 billion to N10 billion while composite firms were to upgrade from N5 billion to N18 billion.This again met serious resistance as most firms felt the margin of the increase was too high.

But big operators like Leadway Assurance, Custodian, AIICO were very comfortable with the development.

AFTERMATH OF PAST RECAPITALISATION

But one of the fallouts of this was that foreign investors looking for where to stake their funds saw this as opportunity to take up positions in Nigerian insurance firms looking for how to meet the new capital regime.

This was when insurance firms like FBNInsurance, NEM Insurance, Royal Exchange Assurance married new investors.

As NAICOM adjusts its seat under Thomas for another round of recapitalisation, the remaining few local investors in insurance are jittery that they wmay lose their stakes in the existing firms .

Thomas had recently made known his intention to bring back the risk base capital exercise which was initially rejected by the industry under Kari.

According to him, “We are making progress but looking at our economy, these, to me, are small numbers. I will also say that our methodology is also changing. Inspection used to be compliance-based with a checklist. But now,

the world has moved to risk-based supervision. We started that last year. Some companies have tasted what it means to have risk-based supervision environment.

“It has been quite revealing about the operations of these institutions. We are taking it to a new level, risk-based capital. If you know the history of capital in this country, it has been an issue and we want to remove that. You can trade, for instance, as a motor third party insurance company, based on your capital.

Then, if you want to trade in the highly volatile business environment of oil and gas, you also must provide the needed capital to be able to run at that level. That is where we are going now.”

SHAREHOLDERS’ REACTION

But in what looks like a swift reaction to this, the Independent Shareholders Association of Nigeria (ISAN) recently described as pathetic the acquisition of local insurance firms by foreign conglomerates under the aegis of Foreign Direct Investment (FDI), saying it portends bad omens for sustainable growth of the Nigerian insurance industry as well as the investment interest of shareholders.

National co-ordinator of ISAN, Moses Igbrude who expressed worry about the development in a recent interview with the media, lamented that the foreign investors were taking advantage of the nation’s bad economy, undervalued insurance stocks and poor exchange rate.

The ISAN boss said: “Our economy is so bad that most of our insurance stocks are undervalued, our exchange rate is so poor, such that only a million dollars will translate to N700-million and, if you have N700-million, you can buy and have a major stake in insurance companies.”

Stating that not all FDI was good for the Nigerian economy, he noted that some of the portfolio investors come to take advantage of weak laws and economy.

“What they do is to buy into insurance firms and delist them from the Stock Exchange, hence becoming a private business, and then hide them from the eyes of the government and the next thing, you wouldn’t hear about the companies again,” he said.

Acknowledging the fact that there are still good investors, he appealed to the insurance industry regulatory body, NAICOM to allow only genuine investors into the industry, even as he urged the Commission to put in place processes to checkmate activities of fake foreign investors to protect the local insurance sector.

THISDAY notes that in recent times, Nigerian insurance sector, despite its low returns on investment, has become the toast of foreign investors. Indeed,NAICOM confirmed to the media that in the past 10 years, no less than 15 investors have ventured into various firms for investments.

FOREIGNERS STAKE IN NIGERIAN

A head count of Nigerian firms enjoying foreign investment goes as follows a leading African Private Equity Fund Manager, Advanced Finance and Investment Group(AFIG Funds) took 29.9 per cent stake in NEM Insurance Plc which now positions the group as the majority shareholder in the progressive 60 year-old NEM Insurance. Sanlam’s group in South Africa has currently taken over full ownership of FBNInsurance from FBN Holding.

NOTE: The story continue online on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY, APRIL 5, 2023

31

BUSINESSWORLD

INTERVIEW

Kale: Previous Macro, Socio-economic Challenges Means Incoming Administration Has no Time to Settle into Govt In this interview on Arise News, the former Chief Executive Officer of the National Bureau of Statistics (NBS), Dr. Yemi Kale spoke extensively on the Nigerian economy, inflation, and the challenges that pertain to Nigeria’s debt stance. Nume Ekeghe presents the excepts: When you look at all the metrics the administration is coming into, what does that mean for the economy as far as the transition year is concerned? t is very challenging, typically, in a transition year, the government has the luxury of slowing down activities, the outgoing administration winds down and the new incoming administration tries to settle into government. So, very few activities occur traditionally. But because of the previous macroeconomic and socio-economic challenges that the economy currently faces, they don’t have the luxury of that time this time around.

And it cuts across all four sides of the economic sector, household consumption is constrained, leading to slow fragile growth. On average since COVID-19 Nigeria has grown 1 per cent and if you compare that on average, with a population growth of over 2.7 per cent or labour force growth of about 3 per cent, it tells you what is going on with poverty, with employment.

If you look at the external sector, you have challenges with the exchange rate, challenges with foreign exchange accretion, agreeably challenges with the balance of payments trade balance. And then the fiscal that we hope would be spent out of these challenges is also having issues with inadequate revenues, which signals very high debt and more worrying high debt service. So, when you’re looking at all of that it is very challenging. I don’t think that they’ll have the ability to settle down and take their time like they normally would do.

in your car, on your own is probably a lot higher than a poor man in a taxi with five people or in a bus with 20 people going from that same Point A to Point B, his consumption per capita is less.

When you have a subsidy regime that for the first six months in 2023 is higher than your budget for health, education and infrastructure combined, then you have to ask yourself if that is the best way.

I

There are pushbacks on fuel subsidy, do you support it being removed?

If you look at it from a technical point of view and an overall what is best for the country. Undeniably, removing subsidies will have significant economic costs.

It has a significant social cost, but keeping subsidy also has significant economic costs, has significant social costs and even environmental costs. So I don’t like to look at these things by focusing on all the positives like those that want to remove subsidy will do and ignore or play down the negatives or those that don’t want to focus on all the negatives. I prefer looking at the holistic approach, look at the entire system and then

Kale determine what is overall best for the country because any policy including this one will have positives, it was negative, some will benefit and some people would lose out from the policy at the end of the day is the cost-benefit analysis to determine overall what is best for the economy.

And for those that are going to lose, how can the government introduce palliatives to minimise the negative effects of that policy. I think that’s the conversation we should have. Let’s be honest, I think we’re getting to a point if we are not already there that the conversation will not be about removing the subsidy, it will be subsidy has to be removed because we just can’t pay for it any longer. I’ll prefer that before we get there, we can actually discuss this so that the process of moving subsidies, is well communicated and maybe in a well-phased approach. The truth of the entire thing is you and I benefit more from the subsidy than the poor that we like to say that we are thinking about because your consumption of fuel is a lot more from going from point A to B

There is an ongoing debate on government size, should it be trimmed down or is it over bloated?

Looking at 1.5 to 2 million public sector workers for the entire Nigerian system, I wouldn’t say that is too big. You would find situations where in certain areas there are a lot of people doing nothing, while in other areas they don’t have enough staff.

Overall, compared to comparable countries with Nigeria, Nigeria’s numbers are not significant even in terms of the amount allocated to them.

We only say that the amount allocated to them is to big because you are relative to capital, so that is a revenue issue. If your capital budget is N20 billion, you would say the one or two billion allocated to salary is too big. But because there is not enough revenue, and unfortunately you can’t do anything about salaries you have to pay, that’s when salaries look bigger than it really is.

I don’t think the government numbers in terms of staff is too big.

How do we bring down inflation?

How you bring down inflation would be determined by what is causing inflation in the first place. And inflation is either caused by demand-push factors or by cost-push factors and I believe it is more cost-push factors in Nigeria.

But cost-push factors are not things you do in short-term measure, there are things involving the cost of production, infrastructure deficit, cost of input, cost of financing, and things of that nature.

I think it is a combination of both. On the demand

side, the argument is too much cash chasing too few goods but there are two sides to the equation, cash, and output. We have to be sure that the problem is excessive cash but if it is a situation of output and in Nigeria’s case it is an output problem.

On the cost-push side, I don’t think there is much monetary policy can do about it, it is just about long-term development plans, improving ease of doing business, fixing infrastructure, fixing security and anything that pushes up cost of production and distribution is going to keep inflation high regardless of what you do in terms of pulling cash out of the system.

How do you see Naira redesign impact inflation on the first quarter?

I believe that in the first quarter, the economy has lost about N10 trillion and I estimated it based on a modular I’ve been using since I was at NBS. When I say N10 trillion I don’t mean the economy would shrink, it means that nominal GDP would still grow but it would not grow as much as it would have grown without those constraints.

I would be surprised if GDP grow more than 2 per cent in the first quarter. I’m expecting 1.5 per cent and that is even assuming the oil sector picks up. But the oil sector doesn’t pick up, it might be less than 1 per cent because the economy is significantly dependent on cash and the informal sector has a huge cash component even those that do transactions through electronic means also had challenges as well. So, if I see anything more than 2 per cent I would be really surprised.

How would you assess Nigeria’s debt and how do we bring it down?

They always say debt is not the problem, but the ability to pay the debt is always the problem. We have significant problems paying our debt. And that’s why when the Minister of Finance said we don’t have debt problems people get upset and I understand what she means.

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Why Komolafe, NUPRC Needs Support in Oil & Gas Sector Reforming Ifeanyi Onuba

In line with the mandate to regulate the upstream petroleum industry, increase production of hydrocarbons in a safe, sustainable, responsible and efficient manner that ensures and institutionalizes energy security, the Commission is focusing on the following key regulatory areas:

I

Nigeria, implementing reforms in public institutions has always been a difficult task. This is because such tasks come with resistance from those working in the organization or from sponsored smear campaigns, in form of commentary or written articles. The aim of these sponsored smear campaigns and resistance is to derail the good efforts of drivers of such reform agenda.

This is clearly what can be used to describe a recent publication targeted at undermining the reforms being implemented at the Nigeria Upstream Petroleum Regulatory Commission, by the Chief Executive Officer Mr. Gbenga Komolafe.

In the said article, the incoming administration was advised to “as a matter of priority emplace an independent and powerful regulator for the Nigerian oil and gas industry, especially the upstream subsector in order to ensure compliance to operational rules as well as to increase foreign exchange earnings to the country.”

According to the publication, such regulator whether it is the NUPRC or the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) should be made to possess the same kind of powers and independence like the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) to be able to regulate the oil sector very well without undue interference by external forces.

The publication had argued that robust regulation was needed in the oil and gas industry to ensure that operating companies operate in accordance with the rules.

But what the publication failed to highlight is the fact that the enactment of the Petroleum Industry Act (PIA) 2021 has engendered a new regulatory and governance architecture, thereby providing enormous opportunities that will reshape the landscape of the petroleum industry in Nigeria.

Generally, the PIA focused and provided clarity on the oil and gas governing institutions in Nigeria, evolving petroleum administration systems, community stakeholders’ management system, and fiscal application systems.

Purposefully, the PIA established the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) as an institution responsible for the technical and commercial regulation of upstream petroleum operations.

In line with the Vision of the NUPRC which is ‘To be Africa’s Leading Regulator’; and the Mission Statement which is ‘Promoting Sustainable Value Creation from

ATTRACTION OF INVESTMENT

Considering the significant decline in investment especially decrease in capital expenditure by 74 per cent within 2014 – 2022, the Commission is focused in turning around this negative tide by putting in place specific actions like the “drill or drop” whereby assets that are not developed are put back in the basket and then offered to willing and qualified operators as well as collaborating with local and international financiers to provide funds for operators in the industry.

INCREASING OIL AND GAS PRODUCTION:

Komolafe Nigeria’s Petroleum Resources for Shared Prosperity,’ the Commission had taken regulatory steps to attract investments in Nigeria’s oil and gas sector, increasing oil and gas production, enhancing peace in Host Communities in line with the PIA, 2021, reducing the unit cost per barrel of crude oil, achieving operational efficiency and enhancing transparency in hydrocarbon accounting among others.

Since 2021 when he was appointed Chief Executive Officer of the NUPRC, Mr. Gbenga Komolafe, has been taking gradual, but steady steps towards reforming the commission in line with the provisions of the PIA 2021.

The Engineer from Ondo State, has shown that he is a round peg in a round hole as he continues to take critical decisions to ensure that NUPRC’s mandates are achieved.

A Fellow of Nigerian Society of Engineers, Council of Registered Engineers of Nigeria and member of the Nigerian Bar Association (NBA), Komolafe’s expertise as a seasoned engineer and lawyer have no doubt been instrumental in giving the regulatory body the needed impetus to achieve its mandate.

As part of strategy for value optimization and increased production from Nigeria’s national oil and gas reserves, the commission has been focused on regulatory initiative aimed at reviving declining wells through enhanced oil recovery approach.

To achieve this, the Commission is working with operators to identify candidate wells and appropriate interventions that would lead to increased production.

In addition, the Commission is focusing on shut-in wells which can be revived. In pursuance of this, the Commission under the leadership of Komolafe inaugurated a committee on June 23, 2022, to conduct industry-wide study on reactivation of Shut-in strings.

The committee has submitted its report, and includes recommendations categorised into Quick Wins, Medium and Long-Term initiatives that will enhance national oil and gas production volumes.

ENHANCING PEACE IN HOST COMMUNITIES

Section 235 of the PIA 2021 saddles the Commission with the responsibility of ensuring conducive and peaceful relationship among stakeholders within the Host Community through the implementation of the Host Communities Development Trust.

The essence of the HCDT is to integrate oil bearing communities into the value chain and

effectively cater for the development needs of impacted communities, thus positively curbing restiveness in such communities and offer enabling environment for operators to thrive.

Measures are currently being implemented by the Commission to guarantee seamless operation, boost investor confidence, and provide enabling environment for sustainable development of the country’s hydrocarbon resources.

REDUCING THE UNIT COST PER BARREL

One of the Commission’s strategic thrusts is to ensure that all its interventions as regulator translate into significant reduction in the cost of doing business in the upstream petroleum industry. In addition to these measures, Section 8 of the Petroleum Act mandates the Commission to undertake the commercial regulation of the operations of the industry as well as develop cost studies and benchmarks for the evaluation of upstream petroleum operations.

The focus on cost reduction as it relates to unit operating cost stems from a comparative analysis of other jurisdictions, with a view to determining where Nigeria want to be. Nigeria’s current unit operating cost ranges from $15 (deep offshore) to $25 (onshore/ shallow waters). It is obvious that Nigeria needs to improve its cost efficiency and practically steps are being takin in that direction to reduce operating cost.

ACHIEVING OPERATIONAL EFFICIENCY

In the Commission’s quest to improve operational efficiency, it had redesigned its operational processes to be more business-like and accountable. Processes have been streamlined and clarified and staff are being encouraged to continually challenge the status quo in line with the Commission’s philosophy of continuous innovation and improvement.

TRANSPARENCY IN HYDROCARBON ACCOUNTING

The Commission recently held consultations with stakeholders in respect of the third phase of Regulations, among which is the Upstream Petroleum Measurement Regulations. These regulations have been developed to ensure sustainable transparency in hydrocarbon accounting.

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T H I S D AY ˾ WEDNESDAY APRIL 5, 2023

EDUCATION TETFund Partners FARA to Boost Agric Research, Others

Learn Africa Unveils e-Store Platform to Deepen Accessibility to Educational Resources

Kuni Tyessi ÓØ ÌßÔË

As part of its renewed vision, Learn Africa, one of the leading book publishing companies in the country, has launched an e-store book platform to provide access to thousands of school books and learning materials online.

The books which are only accessible but not downloaded, come at a subscription fee of N500 per month on all operating systems, which is a strategic investment to position the firm bottom line in the era of digital content.

For the company this is coming now that it is doubling its investment in technology to deliver educational tools closer to its customers.

The Tertiary Education Trust Fund (TETFund) has partnered the Forum for Agricultural Research in Africa (FARA), to establish and launch Agricultural Research and Innovation Fellowship for Africa (ARIFA) innovation platform in Nigeria.

ARIFA is aimed at producing a new generation of fit-for-purpose workforce to re-engineer the African agri-food sector to provide the change factor for rapid agricultural transformation in the next 10 years.

In the first phase of ARIFA, TETFund identified six institutions for the establishment of IPs, namely: Abubakar Tafawa Balewa University, Bauchi; University of Benin; University of Lagos; Michael Okpara University of Agriculture, Umudike; University of Maiduguri; and University of Jos. In his remarks at the event in Abuja, the Executive Secretary of TETFund, Sunny Echono, explained that the fund’s intervention in ARIFA will impact on faculties and departments across Nigeria’s tertiary institutions resulting in the delivery of science-led solutions for improved livelihoods while sustaining and advancing academic excellence.

He explained that TETFund has supported over 120 scholars nominated by beneficiary institutions, with most of the

phase one nominees rounding off their programmes this year.

He added that the preadmission process of the second phase of the programme has since commenced, and TETFund remains committed to supporting another 500 sets of fellows.

According to him, TETFund recognised the ARIFA model as an innovative strategy for revitalising pedagogy that will strengthen the institutional capacities of Nigeria’s tertiary institutions and contribute to building the knowledge-based economy through its centres of excellence (CoE) across the country.

“As we celebrate the return of the first contingent of ARIFA Fellows, I would like to reiterate the commitment of the fund towards sustaining the momentum of the programme, especially as we begin to see the impact of injecting the new fellows into our educational sector, who will power the engines of TETFund ARIFA Innovation Platforms (TAIPS) across the country.

“As you all know, agriculture is a critical sector in Nigeria, and we must continue to invest in research and innovation to ensure sustainable growth and development. The ARIFA fellowship represents a strategic stride in this respect, and we are excited to have these highly trained fellows join us in this endeavour.

Oluchi Chibuzor

Speaking at the launch of the platform in Lagos, recently, the Chairman of Learn Africa, Chief Emeke Iwerebon, stated that edtech is a rapidly growing industry, and it has become clear that technology is playing an increasingly important role in education.

He said investing in edtech would allow the company to provide more innovative and engaging learning experiences to its customers and deepen accessibility to books from the firm.

He added that the company’s desire to provide education that will shape the future of the society informed it’s decision to make this investment in edtech and e-books.

“We understand the chal-

lenges facing the education sector in Nigeria, and we are determined to bridge the gap by making educational materials more accessible to all. With the e-store, we have created a platform that provides easy access to our educational materials for learners and teachers, regardless of their location. Our e-book store offers a wide range of all our books at the pre-primary, primary, junior secondary and senior secondary levels, covering various subjects and topics. Access will be granted to all the books based on a subscription model at a most affordable price of N500 per month.

“In addition to closing the educational gap in Nigeria, our e-book store also offers an

opportunity for Nigerians in the diaspora to access educational books written in line with the Nigerian curriculum. This will enable them to stay connected with their roots while still accessing quality educational materials from anywhere in the world.

“At Learn Africa, we believe that education is key to unlocking the potential of our continent. We are committed to providing access to quality education, and we believe that edtech and the e-store are the future of education. By investing in these technologies, we are not only expanding our business, but we are also contributing to the growth and development of our society,” Iwerebon said.

L-R: Non Executive Director, Learn Africa Plc, Hajia Binta Bakare; the Financial Director, Mrs. Cordelia Ojeile; Publishing and Content Director, Mr. Gbola Aiyedun; and the Managing Director, Alhaji Hassan Bala, at the launch of the Learn Africa’s e-store book platform in Lagos... recently

…Day Earth Cried, As Fire Burnt It Policymakers Seek Innovative Solutions to Enhance Becky Uba Umenyili

It was like the sharp burst of a balloon, At once, it inflated the mass of earth, To deflate the airs of the atmosphere.

Though in unimaginable magnitude, Yet the sound was noiseless.

Like the movement of light, The swiftness of wind, Dexterity of a professional craftsman, The rocks salute with obedience attention, A command it couldn’t decipher its origin.

Sand dunes danced off in circles, Tiny gravels darted off in their rounds, Surrounding air flew off in whistles, Nondescript objects ran off their courses.

All in military-fashion curtness.

Creatures at site shook in wonder, Birds raised their wings like acrobats, Trees waved their branches, Other animals darted for safety, Yet, all stared and gawked for understanding.

What could make the earth shook tremendously?

What could alert the surroundings to rock apart?

What could command such

earth-ripping?

What could arouse the panic in the air?

What could be this unfathomable?

It’s the fire, it’s the fire!

The day earth wept like an infant, Shed uncontrollable tears of defeat, For unto, over and around it, Rolled the heat of unseen fire, Though only a moment but with monumental effect!

Behold the triumphant strides, Rising from the heat of the fire, Hero-like in gentle demeanour, The reason for the quake, A resurrected Messiah!

The hollow of the grave, Became the pearl of artists, The shroud of the site, Became the treasure of tourists, Yet the hero, gloriously treads in majesty.

He has a name, He has a genealogy, He had a lifestyle, He had a destiny, He became a conqueror!

Evolution of the ancient times, progressed in geometric succession, Then Before Christ (BC), but since Anno Domini (AD), Civilization wears sophistication, technology advances, Scientific inventions multiply with countless discoveries, For the resurrection of Christ, ushers victory over earth’s dumbness.

Early Childhood Literacy Level in Africa

Uchechukwu Nnaike

The People’s Action for Learning (PAL) Network recently hosted a high-level regional policy dialogue with the theme ‘Evidence for Learning’ today.

The forum featured key stakeholders in the education sector alongside Regional Economic Communities (RECs) in Africa to deliberate on the gaps in education policy and discuss available solutions to improve children’s foundational learning outcomes at scale.

According to the World Bank, nine out of 10 children in Sub-Saharan Africa (SSA) do not achieve basic reading and numeracy skills by the age 10.

This has been described as

an alarming statistics, especially when compared to developed economies where only one out of 10 do not achieve basic literacy and numeracy skills at the same age.

Speaking at the event, the Chief Executive Officer, PAL Network, Armando Ali said: “We ought to work collaboratively and learn from each other in order to bridge the gap between evidence and action to improve learning outcomes for children under the age of 10, across Sub-Saharan Africa. We need to get it right for Africa’s growing youth population.

This is only possible through a coordinated response that emphasises the importance of foundational learning policy

guidelines in combating the dramatic learning crisis that millions of African children are experiencing.”

Ali said there have been synergies to improve foundational literacy and numeracy, and the forum will provide an opportunity to benchmark successful solutions that have worked in other countries and review data required to inform equitable and inclusive responses to education.

The theme is a call to action for all stakeholders to share proof of work done in order to collaboratively drive learning intervention programs aimed at improving learning outcomes.

Dr. Sara Ruto, former

CAS Ministry of Education and a mentor of Citizen Led Assessment and Actions in Africa said: “Education is a source of power for many children. The situation is dire, not many children have access to the skills and competencies needed to yield successful adults.” A recent study conducted by Usawa Agenda in Kenya, shows at least 60 per cent of grade four students are falling behind in competencies they should have learned a year earlier. 57 per cent of the grade four girls tested could not read a grade three level text. “We must accelerate learners’ acquisition of foundational literacy and numeracy skills,’’ she added.

Cambridge, HP Launch EdTech Fellowship to Improve Learning for millions across Africa Cambridge Partnership for Education and HP have launched an inaugural EdTech Fellowship, expected to bring together leaders working in SubSaharan Africa to advance digital transformation in education systems across the continent.

The HP Cambridge Partnership for Education EdTech Fellowship is a seven-month programme that aims to equip senior government officials, advisors and NGO/business leaders with the knowledge

and skills to lead impactful EdTech transformations in their education system.

According to global research partnership EdTech Hub, “there is widespread recognition that technology will play an important role in the future of education in Africa, and COVID-19 provided a ‘wake up call’ to grapple seriously with this future.” However, the Global Campaign for Education also found that “Implementation of EdTech programmes during

the COVID-19 emergency was often constrained and even led to failure when evidence was lacking as to why and how digital technologies facilitate desirable learning outcomes.”

The fellowship aims to address this paradox. Due to start in July, the programme will be tailored to local contexts and delivered through a residential course in Cambridge, online study and 1:1 executive coaching.

Full and 80 per cent scholarships are available for senior

government officials to study on the programme.

Leaders will benefit from the expertise and evidence-based understanding of academics from the Digital Education Futures Initiative (DEFI) at Hughes Hall, University of Cambridge, and NGO OpenDevEd, led by Dr Björn Haßler who is also Technical Director of the EdTech Hub. DEFI and OpenDevEd have been partners in the design and delivery of the fellowship programme.

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T H I S D AY ˾ APRIL 5, 2023

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

L-R: Zone Transport Manager, Anheuser-Busch InBev, Maretha du Plessis; People Director, International Breweries Plc, Michael Odutayo; three members of the grand-prize winning Team Epic, Owolabi Gbemisola, Odetola Adunola, and, Omotolani Ligali; Director, BeerTech Africa, AB InBev, Cesar Robles; and Beerkathon Judge and Product Design Team Lead, First Bank, Damilola Tejuosho, during the Beerkathon tech contest prize presentation powered by International Breweries Plc and BeerTech Africa in Lagos…recently

L-R: Director, Registration, Advertising Regulatory Council of Nigeria (ARCON), Lady Sussie Agbo; PR Lead, 9Mobile, Chineze Amanfo; and former President, National Institute of Marketing of Nigeria (NIMN) and Managing Consultant, OE&E Consulting Limited, Tony Agenmonmen, at the Industry Awards/Dinner in Lagos…recently

L-R: Chief Client Officer Insurance, AXA Mansard, Rashidat Adebisi; Chief Executive Officer, AXA Mansard Health, Tope Adeniyi; Chief Customer and Marketing Officer, AXA Mansard Insurance, Jumoke Odunlami; and Country Director, Moove, Taiwo Ajibola, during the press conference to launch the new AXA Mansard Health ‘More Wellness For Less’ campaign in Lagos…recently

L-R: Director-General, SMEDAN, Mr. Olawale Tunde Fasanya, and Vice President Yemi Osinbajo during the visit to the vice president by the DG in Abuja…recently

L-R: President, Global Centre for Leadership and Good Governance, Ogedengbe Monday; Convener, Vote Must Count International Initiative (VMCII), Dr. Barry Johnson; and President, African Emancipation Movement for Good Governance, Mr. Lucky Obiyan, during a press conference held in Abuja recently to call on INEC to review the 2023 presidential election results PHOTO: ENOCK REUBEN

L-R: President, African Public Relations Association (APRA), Chief Yomi Badejo-Okusanya; representative of the Lagos State Chief of Staff, Tayo Orekoya; Chairman, STB McCann and the winner of Doyen of Advertising Award, Sir Steve Bamidele Omojafor; Chief Executive Officer, Ladybird Advertising, Bunmi Oke; and Publisher/CEO, The Industry Newspaper, Mr. Goddie Ofose, at the industry summit and award 4.0, held in PHOTO: SUNDAY ADIGUN Lagos...recently

From left (sitting): former Enugu State Commissioner for Science and Technology, Chief Lucky Chukwu; Senator-elect, Chief Kevin Chukwu; Igwe of Amurri Ancient Kingdom, Igwe Charles Nwoye; Igwe Fidelis Nsiegbu; and Coordinator, Dr. Ben Nwoye (standing behind Igwe Charles); and other people in the area during the performance of the communal custom of placing a curse on the killers of the Nkanu East senatorial candidate of the Labour Party, Late Oyibo Chukwu, in Amurri Ancient Kingdom in Nkanu West LGA of Enugu State…recently

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CITYSTRINGS

Group Features Editor: ÒÓÏ×ÏÖÓÏ äÏÙÌÓ Email ÍÒÓÏ×ÏÖÓÏ˛ÏäÏÙÌÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט ͖͕͔͑͑͒͑͒͑͑͘

How NAF Boosts Credible Logistics Operation through Research, Development With the premium placed on Research and Development, the Nigerian Airforce is bent on taking innovative approaches to boost its logistics operations, with possible moves to commercial their roaring successes in the nearest future, Chiemelie Ezeobi reports

A

s part of efforts to reduce foreign dependence and promote selfreliance, the Nigerian Air Force (NAF) has continuously put its best foot forward in Research and Development (R&D). With many R&D innovations under its belt, commercialising the successes in the nearest future cannot be over ruled.

Some of the R&D breakthroughs include the induction of the first NAF indigenous operational unmanned aerial vehicle named Tsaigunmi; receipt of patent right for the production of the Unmanned Ground Vehicle; receipt of patent right for the production of the hydraulic accumulator diaphragm for the Mi-35 helicopter series; repair Alpha Jet Engines locally by NAF Technicians; local production of 30.1mm Rockets and heat shield protective cones for Alpha Jet rocket pods, as well as Aviation Power pack; and weaponisation of L-39ZA trainer aircraft and 3 x Alpha Jet aircraft whose weapon systems were reconfigured locally to carry not only the Western bloc rocket launchers but also Eastern bloc rocket launchers.

But beyond all these, it's on record that NAF had in the past signed a Memorandum of Understanding with about 32 indigenous academic and research institutions as well as manufacturing companies to develop local capacity to meet its aircraft spares and logistics need. Millions in foreign exchange have been saved through these various innovations.

Recently, at the NAF 2023 Inter-units Research and Development (R&D) Competition held at 631 Air Craft Maintenance Depot (ACMD) Hanger, Ikeja, Lagos, themed Improving Innovative R&D for Credible Logistics Support In Nigeria Air Force Operations, the importance of R&D, especially to logistics operations, was brought to the fore.

At the end of the competition, the 635 NAF Armament Support Group (ASG) Kainji

Senior officers at the NAF 2023 Inter-units Research and Development (R&D)Competition came first with the creation of the SUU-20 Bomb Dispenser Loader while the 631 NAF ACMD came second creating the Actuators Test Stand and 671 NAF Station Ibadan came third inventing the Intruder Detection System.

At the event, Chief of Standards and Evaluation, Headquarters, Nigerian Air Force (NAF) AVM Bala Abubakar, who reiterated the premium placed R&D, said the NAF might commercialise some of its project in the future.

Stressing that a lot of projects and technology that had been developed through R&D in

the air force had been patented by the National Office For Technology Acquisition and Promotion, he noted that "Some of the technologies are strictly for military use in which case we may not be in a hurry to patent and produce at the industrial level for commercial use.

"However, those projects that are applicable to general aviation will be commercialised in the near future so, the future is bright and the potential unlimited for the NAF".

He further added that NAF embarked seriously on R&D in order to gradually stop dependence on foreign vendors for materials as well as to save foreign exchange for the country.

Buttressing, he said, "NAF is the most technologically based of the armed forces in

Nigeria which implies that our operations, equipment and sustenance of operations are highly foreign dependent.

"This has a lot of security implications as well as the high cost associated with buying things from foreign vendors so it is important for NAF to embark seriously on R&D." Citing the development of the unmanned aerial vehicle, GULMA in 2013 as well as a more advanced version called Tsaigumi in 2018 as part of the dividends of the R&D, he listed other innovations to include the production of the MI-35 Hydraulic Accumulator Diaphragm and 30mm Canon Loader, Heat Shields Protective Cones, Break Pads, rivets and anti skid test bench for the Alfa Jet Aircraft, among many others.

"I believe that this event will bring out products which can be patented to aid the advancement of NAF operations in particular and the development of the nation at large," Abubakar added.

On the NAF policy on R&D, he said it had recently been reviewed including its implementation strategy for short, medium and long term, adding that the reviewed policy addressed the challenges experienced in the past including funding support as well as technical collaboration for R&D. He said, "We have also renewed existing MOU as well as sign 50 MOUs between the NAF and tertiary institutions and other research institutes around the country," but added that the NAF R&D Centre had recently been relocated to Oshogbo to form part of the multi-billion naira aviation village.

"The centre, when completed will leverage on it's close proximity to the Oshogbo Machine Tools limited for parts fabrication and parts manufacture.

"I urge our teams of researchers to take advantage of this initiative to further enhance and consolidate our research effort," the AVM said.

Organisation Celebrates 100 Most Promising Women SMES Mary Nnah

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n honor of International Women's Day, Naija Brand Chick, a leading Nigerian business organisation, has created a list of the top 100 most promising women-owned small and medium enterprises (SMEs) shaping the future of business in Nigeria.

The list was curated to celebrate the contributions of women in business and to give them the recognition they deserve.

The founder of Naija Brand Chick, Nelly Agbogu, said she was inspired to create the list because she noticed that many small business owners, especially women, are not given the spotlight for their contributions to the growth of the national economy.

She believes that there are amazing women doing well in the SME space who should be celebrated, but they keep seeing the same old faces all the time.

Therefore, she decided to do something different with these amazing women in this month that the world chooses to celebrate them.

The recognition is expected to have a significant impact on the women entrepreneurs who made the list. The founder hopes that it will instill confidence in them and make them realise that they matter.

She also believes that it will create more visibility for their brands and help them get more customers for their varied businesses.

Many women entrepreneurs who made the list have notable achievements and success stories. For instance, Majinfotek is currently opening her store in Ghana.

Halimat, the founder of Indulgence Fashion, started in a small store in Yaba and has now moved to a bigger store in Lekki.

100 most promising women Digital Boss Creator, who was selling roasted yam at the roadside, is now among the most talked-about digital

and course creators on social media.

The founder of Naija Brand Chick believes that it is crucial to recognise women entrepreneurs in today's busi-

ness landscape. She notes that women face unique challenges such as scaling, structuring, and balancing work and home life. As such, women in business require support from their loved ones, funding, visibility, and more reach to succeed.

To better support and empower women entrepreneurs, the founder advises organizations to look for women who aren't making so much noise, but they're killing it in business. She believes that there are many women who are doing well in their space and need help and support.

The plan for the "top 100 most promising women SMEs shaping the future in business" list is to expand it and give it more voice across the nation. The founder hopes to look for ways to create awards and help more business owners gain massive visibility and growth.

Nelly Agbogu, the brain behind Naija Brand Chick and Nellies healthy food & snack company in the heart of Lagos, Nigeria, isn’t the average business owner who dreamt of entrepreneurship from an early age like most CEOs would tell you.

She is a woman (and a mum) who had struggled with her weight and faced hurting body shaming criticism for years; in the course of finding a solution to losing weight, had a baby who eats only gluten-free products, she had to find her passion for baking healthy options to help herself and her children and decided to build a brand out of it. In her words, “My biggest challenge birthed my business journey.”

Naija Brand Chick's list of the top 100 most promising women-owned SMEs is a significant step towards celebrating and recognizing the contributions of women entrepreneurs in Nigeria. This recognition will help to create more visibility.

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Shareholders Vow to Protest Over Virtual Meeting by Listed Companies Kayode Tokede Shareholders under the aegis of the Proactive Shareholders Association of Nigeria (PROSAN) have called for an urgent review of the virtual Annual General Meeting (AGM) arrangement, insisting the current practice contradicts the Companies and Allied Matters Act (CAMA) stipulated rules and guidelines.

To avert the spread of COVID-19 virus, the recent guidelines released by the Corporate Affairs Commission (CAC) on proxy AGM stipulated that any investor who is not willing to attend the meeting could appoint a representative.

With over 111 shareholders’ associations in Nigeria, an investigation by THISDAY revealed that less than 10 association representatives have access to attend listed companies’ AGMs. Ahead of the 2023 general election, President Muhammadu Buhari had relaxed restrictions put in place in the wake of the COVID-19 pandemic in 2020 and shareholders are calling for total suspension of virtual AGM. Speaking with THISDAY, the National Coordinator of the shareholders’ group, Mr. Taiwo Oderinde insisted that what is obtainable as proxy AGM at the ongoing yearly meetings of listed firms contradicts

the stipulated guidelines and does not address investors’ concerns.

He said the management of these listed companies are greedy and less concerned about shareholders’ investments, stressing that if the decision persists, shareholders may protest in Abuja and Lagos.

He said, “The management of these firms selected few shareholders and stop other shareholders’ associations commenting on their financials. Out of 365 days, shareholders only have AGM to make comments about their performances and speak on how they can make amendments.”

L-R: Non-Executive Director, Honeywell Flour Mill Plc (HFMP), Mr. Joseph Umolu; Non-Executive Director, HFMP, Mr. Sadiq Usman; Chief Financial Officer, HFMP, Mathew Chadzimura; Managing Director, HFMP, Mr. Nassib Raffoul; Chairman, Board of Directors, HFMP, Mr. Boye Olusanya; Independent non-executive Director, HFMP, Mrs. Kate Osamede Iketubosin; Non-Executive Director, HFMP; Mr. Vlasios Liakouris; Company Secretary, Mrs. Osomomen Olukoya; Managing Director, HFMP, Mr. Olanrewaju Jayeola; Non-Executive Director, HFMP, Mr. Anders Kristiansson; during HFMP Annual General Meeting held in Lagos...recently

Alleged Debt: Hotelier Sues Oil Firm, Demands N22.4m Wale Igbintade A businesswoman, Chinenye Ajie, has dragged an international oil and gas servicing company, Baker Hughes before the Lagos High Court for an alleged failure to pay for hotel accommodation and catering services rendered to it.

The claimant, in suit number LD/ADR/3582/2021 filed by her lawyer, Valentine Ezeokeke, is praying for an order compelling the defendant to pay alleged outstanding debt of N12, 471,238, and additional N10 million as general and aggravated damages.

The claimant is also demanding interest at the rate

of 22 per cent per annum from September 1, 2019 until judgment and thereafter, at the same rate, until the final liquidation of the entire judgment debt.

In her statement of claim, Ajie, who carries on business in the name and style of Quintessential International Arena, located in Kwale Delta State, stated that between the months of June 2018 and August 2019, she rendered hotel accommodation and catering services to the defendant (Baker Hughes) at a total cost of N21, 613,658.00.

She stated that the request for accommodation always came through email approv-

als sent by the defendant’s Journey Management Officers.

The claimant stated that she always honoured the requests and provided accommodation and catering services for the guests involved, after which the claimant’s bills are submitted for settlement.

Claimant added that between the months of June 2018 and August 2019, the defendant had accumulated a total bill of N21,613,658 through several invoices that were sent to them.

The claimant stated that out of this sum, the defendant as at February 12 2021, settled only N9,142,420 leaving the sum of N12,471,238 unpaid.

Entrepreneur Upbeat about Nigeria’s Economy Despite Harsh Terrain The Managing Director/CEO, Tank & Tummy, Mrs Titilola Mordi-Adeseye has expressed confidence in the nation’s economy despite the harsh business environment for businesses in the country.

Restating her commitment to investing in Nigeria, she said the company has opened another outlet in Lekki, Lagos, maintaining that the move is a clear demonstration of the company’s believe in Nigeria.

“I believe Nigeria is the best in the whole world. No other country is as good as Nigeria.

We have our regularities which I think God will take care of When you go to someone else country, you don’t go there thinking they are the best. It is when you get there that you now know Nigeria is the best place to be. We are

looking at this outlet to be very successful. In the future, nobody is ever tired, so we can move on, “she said.

Responding to a question about competing in a highly competitive industry, she said it is not about competition, but how well an investor operates in the industry Although, having her core focus on oil and gas, she reaffirmed that there is nowhere better than investing in Nigeria, saying that oversea investment is not as rosy as people make it seem “For instance, we have two people maybe they read the same course. You put one in Nigeria and one overseas, give them 10 years, the one in Nigeria has gone far than the one abroad.

Although, they have comfort

and everything they use is on credit and they have to pay. At the end of the day there is no stability and they don’t have what it takes to balance but the situation in Nigeria is far better.

They overtax them over there and at the end of the day it is more or less they are working for the government but Nigeria here you can work for yourself.

They do it do but the ones that made this success over there is one out of thousands and those are the ones they will show you, “She added: She however, called on the federal government to as a matter of urgency create the enabling basic infrastructure for businesses to thrive in the country, noting that power supply still remains a challenge to the business community.

DataPro Trains THISDAY, Arise TV Reporters, Others on Credit Rating Outcomes Kayode Tokede Journalists covering business and economic beats have been charged to be diligent in data handling in the course of their assignments in the overall interest of the Nigerian economy.

The Executive Director (Operations) and Chief Rating Officer (CRO) of DataPro Limited, Mr. Oladele Adeoye, who gave the advice at a free training course for financial journalists on media coverage of credit rating outcomes at the weekend, stressed the need for accuracy in reporting by media practitioners.

The training which attracted journalists from 15 leading media houses, according to the organisers, was geared at empowering and training the media on the knowledge and tools needed to accurately and correctly report credit rating outcomes.

Participants were drawn from Thisday, The Punch, Vanguard, BusinessDay, Arise News, Channels, TVC, Proshare, The Nation, and Daily Trust.

In his presentation, Adeoye encouraged journalists to use the information and keywords as accurately as possible to form the basis

of their reporting as press releases on rating contain complex information that can easily be misunderstood.

The CRO stated further that what is required of journalists is an accurate use of Key words such as “Superior, Excellent, Good, Fair, Marginal, Weak, or Poor” as he explained the meaning of each item used in the Rating Grade.

According to him, “Portions of the press release may be freely reproduced, provided that the selected portion does not change the context of the copy and that full and clear credit is given to the Rating House” he said.

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 8 MARCH, 2023

The price of OPEC basket of thirteen crudes stood at $84.37 a barrel on Tuesday, compared with $84.59 the previous day, according to OPEC Secretariat calculations.

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

39

T H I S D AY ˾WEDNESDAY, APRIL 5, 2023

MARKET NEWS

International Breweries Improves Revenue by 20% to N218bn in 2022FY Kayode Tokede International Breweries Plc has recorded double-digit revenue growth to N2187 billion for the financial year ended December 31, 2022 from N182.3 billion reported in 2021 financial year.

The 20 per cent significant growth in revenue is on the backdrop of challenging macroeconomic environment, driven by pricing initiatives across the

portfolio, the successful launch of its “No DNA Needed, Originally Black” campaign and the introduction of its well-received premium brand, Flying Fish; all of which sustained consumer demand across product list.

The Managing Director, International Breweries, Mr. Carlos Coutino in a statement said, “Our momentum can be attributed to our consistent execution of our commercial strategy,

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

revenue management initiatives and the implementation of a deliberate route-to-market strategy alongside a technology-enhanced trade ecosystem, allowing us to serve our distributors and retailers better.”

Coutino concluded by reiterating the Company’s commitment to investing in its people and fostering a culture of long-term growth and value creation throughout the organisation

S E C U R I T I E S QUANTITY TRADED

VALUE TRADED ( N )

with continued enhancements to its operating model.

While 2022 was characterised by higher energy prices, FX illiquidity, material cost headwinds and supply chain disruptions, revenue increased by eight per cent in Q4 2022 vis-à-vis the previous year and EBITDA growth was at the upper end of the company’s medium-term growth ambition and outlook.

The Company also achieved

T R A D E D MAIN BOARD

a 12.3per cent reduction in administrative expenses driven by a reclassification of depreciation from administrative expenses to cost of sales.

In his remarks, Finance Director, David Tomlinson stated that “Despite the everchanging business environment, we remain steadfast in executing our strategy, which has propelled our business forward.”

In conclusion Tomlinson said

A S O F

that “Our focus on revenue management, organisational structure and commercial investment continues to position us for annual growth. Our commitment to investing in our brands, facilities and digital transformation will allow us to connect more closely with customers and consumers and support our organic growth potential while maintaining financial discipline.”

0 4 / 0 4 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

40

WEDNESDAY, APRIL 5, 2023 • 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 03Apr-2023, 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 199.35 200.50 5.41% Afrinvest Plutus Fund 100.00 100.00 10.78% Nigeria International Debt Fund 332.20 332.20 7.40% Afrinvest Dollar Fund 107.36 108.46 1.82% 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 6.30% Anchoria Equity Fund 155.02 156.43 6.95% Anchoria Fixed Income Fund 1.25 1.25 1.54% 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 23.31 24.01 6.23% ARM Discovery Balanced Fund 546.48 562.95 4.84% ARM Ethical Fund 46.66 48.07 3.43% ARM Eurobond Fund ($) 1.14 1.14 1.35% ARM Fixed Income Fund 1.13 1.13 1.76% ARM Money Market Fund 1.00 1.00 10.34% ARM Short Term Bond Fund 1.05 1.05 1.58% 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 97.78 97.78 2.82% AVA GAM Fixed Income Naira Fund 1,129.92 1,129.92 0.31% 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 2.16 2.16 4.27% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.40 2.45 7.90% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A 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 N/A N/A N/A 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 11.40% Paramount Equity Fund 20.01 20.38 4.34% Women's Investment Fund 155.12 157.37 4.69% CHD Nigeria Bond Fund 102.37 102.37 12.16% CHD Nigeria Dollar Income Fund 1.00 1.00 10.49% 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 9.39% Cordros Milestone Fund 143.62 144.55 4.31% Cordros Fixed Income Fund 107.97 107.97 9.63% Cordros Halal Fixed Income Fund 104.80 104.80 6.02% Cordros Dollar Fund ($) 114.69 114.69 6.02% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund 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 N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A 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 Bond Fund 1514.79 1514.79 11.92% FBN Balanced Fund 210.34 211.88 5.33% FBN Halal Fund 126.69 126.69 12.52% FBN Money Market Fund 100.00 100.00 10.71% FBN Dollar Fund 122.37 122.37 6.96% FBN Smart Beta Equity Fund 176.12 178.44 6.35% FBN Specialized Dollar Fund 106.66 106.66 9.59% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.28% Legacy Debt Fund 3.54 3.54 -11.58% Legacy Equity Fund 2.08 2.12 19.57% Legacy USD Bond Fund 1.28 1.28 6.10% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com 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

Bid Price 4,416.95 3,784.38 100.00

Offer Price 4,445.05 3,784.38 100.00

Yield / T-Rtn 19.49% 7.64% 11.35%

FSDH Dollar Fund 1.15 1.15 5.58% GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A 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: www.meristemwealth.com/funds/; Tel: +2348028496012 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) 103.05 103.05 9.96% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.21% 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 N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL ASSET MANAGEMENT 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 The Frontier Fund 132.78 135.94 5.62% 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 11.02% 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 3,825.30 3,851.25 12.77% Stanbic IBTC Bond Fund 247.68 247.68 5.14% Stanbic IBTC Ethical Fund 1.50 1.52 19.84% Stanbic IBTC Guaranteed Investment Fund 337.72 337.72 7.85% Stanbic IBTC Iman Fund 275.89 278.68 18.01% Stanbic IBTC Money Market Fund 1.00 1.00 9.00% Stanbic IBTC Nigerian Equity Fund 12,942.54 13,096.52 18.53% Stanbic IBTC Dollar Fund (USD) 1.39 1.39 7.47% Stanbic IBTC Shariah Fixed Income Fund 122.90 122.90 5.12% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 117.57 117.57 10.52% Stanbic IBTC Absolute Fund 4,673.46 4,673.46 9.86% Stanbic IBTC Aggressive Fund 3,448.76 3,490.42 24.02% Stanbic IBTC Conservative Fund 4,398.20 4,414.59 15.53% 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 1.04 1.06 9.04% United Capital Balanced Fund 1.57 1.60 14.67% United Capital Wealth for Women Fund 1.27 1.29 9.19% United Capital Sukuk Fund 1.13 1.13 9.95% United Capital Fixed Income Fund 1.99 1.99 7.31% United Capital Eurobond Fund 127.26 127.26 6.04% United Capital Money Market Fund 1.00 1.00 9.11% 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 14.59 14.72 5.18% Zenith ESG Impact Fund 16.56 16.72 4.75% Zenith Income Fund 23.97 23.97 1.76% Zenith Money Market Fund 1.00 1.00 9.63% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund N/A N/A N/A Vetiva Consumer Goods Exchange Traded Fund N/A N/A N/A Vetiva Griffin 30 Exchange Traded Fund N/A N/A N/A Vetiva Money Market Fund N/A N/A N/A Vetiva Industrial Goods Exchange Traded Fund N/A N/A N/A Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund N/A N/A N/A REITS NAV Per Share

Yield / T-Rtn

115.40 53.52 101.31 9.94

1.31% 4.74% -12.96%

Bid Price

Offer Price

Yield / T-Rtn

16.97 139.14 110.16 17.40 16.40

17.07 141.56 112.06 17.50 16.50

9.65% 9.04% 10.17% -3.54% 4.31%

NAV Per Share

Yield / T-Rtn

106.75

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC 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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY, APRIL 5, 2023 ˾T H I S D AY

41

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Trump Pleads Not Guilty on 34 Counts Related to Hush Money Indictment Former US President Donald Trump pleaded not guilty Tuesday in a state court in Manhattan to 34 charges linked to a $130,000 hush money payment to porn actress Stormy Daniels just ahead of his 2016 presidential election victory to silence her about her claim of an alleged tryst with him a decade earlier.

It is the first indictment ever filed against a current or former US leader.

Trump has long denied her claim of a one-night encounter but not that his one-time lawyer and political fixer, Michael Cohen, made the payment to Daniels and that reimbursement payments to Cohen were recorded on a Trump Organisation business ledger as legal expenses. Trump disputes the payment was related to his presidential campaign seven years ago.

The 76-year-old Trump oversaw his real estate business empire and was a fixture in the city’s glitzy, tabloid social world for decades before becoming president. But now, for the first time, he was appearing in his home city as a defendant, even as early national polls show him leading the race for the 2024 Republican presidential nomination as he tries to reclaim the White House.

EU Warns China Against Militarily Supporting Russia’s Ukraine Invasion European Union foreign policy chief Joseph Borrell said Tuesday that European leaders are sending a message to China that it cannot be militarily supporting Russia’s aggression against Ukraine.

Speaking in Brussels, where NATO foreign ministers are meeting, and ahead of his own visit next week to China, Borrell said the EU has been “clear with China that its position on Russia’s atrocities and war crimes will determine the quality of our relations with Beijing.”

He said other EU leaders visiting China, including European Commission President Ursula von der Leyen and French President Emmanuel Macron, bring the same message.

Borrell addressed reporters alongside US Secretary of State Antony Blinken, who said there would be a focus on further reducing Europe’s dependence on Russian energy supplies and increasing clean energy production.

Both diplomats were due to take part in a NATO foreign ministers meeting as the alliance formally welcomes Finland as a new member.

The raising of Finland’s flag at NATO’s headquarters comes less than a year after the country submitted its application in response to Russia’s invasion of Ukraine.

Finland Joins NATO in Major Blow to Russia Over Ukraine War Finland joined the NATO military alliance Tuesday, dealing a major blow to Russian President Vladimir Putin with a historic realignment of Europe’s post-Cold War security landscape triggered by Moscow’s invasion of Ukraine.

The Nordic country’s membership doubles Russia’s border with the world’s biggest security alliance. Finland had adopted neutrality after its defeat by the Soviets in World War II, but its leaders signalled they wanted to join NATO just months after Moscow’s invasion of Ukraine sent a shiver of fear through its neighbours.

The move is a strategic and political setback for Putin, who has long complained about NATO’s expansion toward Russia and partly used that to justify the invasion.

“I’m tempted to say this is maybe the one thing that we can thank Mr Putin for because he once again here precipitated something he claims to want to prevent

by Russia’s aggression, causing many countries to believe that they have to do more to look out for their own defence and to make sure that they can deter possible Russian aggression going forward,” US Secretary of State Antony Blinken said before accepting the documents that made Finland’s membership official.

Pakistan Court Orders Snap Elections in 2 Provinces, Giving Ex-PM Khan Political Boost Pakistan’s Supreme Court ordered

100 lost their lives, and November, when 173 died, it said in a report marking 200 days since Amini’s death.

Tuesday that snap elections in two provinces must be held on May 14, declaring that a delay of the votes by a government-backed election commission was unlawful.

The verdict handed a political victory to former Prime Minister Imran Khan, who has been pushing for early national elections since he was ousted from power by a parliamentary no-confidence vote a year ago.

Khan’s Pakistan Tehreek-e-Insaf political party, or PTI, controlled the legislatures and governments in central Punjab and northwestern Khyber Pakhtunkhwa provinces until January when he dissolved them to force early nationwide polls.

His successor, Prime Minister Shehbaz Sharif, rejected his call for new elections and backed the election panel’s delay, saying it was impossible to organize the votes while the country suffered from an economic crisis and growing terrorist attacks.

“The impugned order … made by the Election Commission of Pakistan is declared to be unconstitutional, without lawful authority or jurisdiction … and is hereby quashed,” the three-member bench led by the chief justice ruled Tuesday. It set May 14 as the new date for polls in Punjab to make up for the time lost.

“Neither the constitution nor the law empowers the commission to extend the date of elections beyond the 90 days,” read the ruling.

recommends the eradication of the omnipresent impunity of enforced disappearance.”

During their visit, the human rights experts interviewed 171 victims and civil society organizations and met with more than 60 authorities from Anbar, Bagdad, Erbil, Kirkuk, Mosul and Sinjar.

UN: Authorities Made One Million Iraqis Disappear A UN watchdog committee is urging the Iraqi government to take action to stop the practice of enforced disappearances, which has resulted in the abduction and disappearance of up to a million people in the past five decades.

A report issued Tuesday by the UN Committee on Enforced Disappearances, a body of 10 independent experts, is based on a visit to Iraq from November 12-15, 2022. Its authors express “deep concern” that the practice, which has persisted in much of the territory of Iraq since 1968, continues to be widespread and practised with impunity today.

“The Iraqi state has not yet criminalized enforced disappearances,” said Mohammed Ayat, vice chair of the committee, noting that the committee received allegations of enforced disappearances from different governorates during the visit.

“It is therefore understandable in this context … to remind Iraq of the extreme urgency to criminalize enforced disappearance in the terms of the convention,” Ayat said, referring to the UN Human Rights Committee’s 2010 International Convention for the Protection of All Persons from Enforced Disappearance. “The committee

537 Killed in Iran Protest Crackdown, Says Rights Group Iranian security forces have killed at least 537 people in a crackdown on protests that erupted in September, a rights group said on Tuesday, sharply revising upwards its previous toll.

Norway-based Iran Human Rights (IHR) also said that while four people had been executed in this period on protest-related charges, over 300 more had been hanged on other accusations in the same time frame in what it described as a broad tactic to “intimidate” society.

The protest movement began in midSeptember after the death in custody of Mahsa Amini, a young Iranian Kurd who had been arrested for allegedly violating Iran’s strict dress code for women.

Protesters took to the streets urging not just an end to clothing obligations like the obligatory headscarf for women but also the ousting of Iran’s Islamic theocracy, which has ruled the country since 1979.

According to rights groups, the authorities responded with a crackdown that saw protesters directly targeted with live ammunition across the country.

IHR’s previous toll was 488 protesters killed in the crackdown, and it said the new figure of 537 was due to new deaths being openly verified.

The most deaths took place in late September, with 223 killed, October, when

Somalia, Cuba Resume Diplomatic Relations After 46 Years Somalia and Cuba have agreed to resume diplomatic relations after 46 years, Somalia’s minister of foreign affairs has said.

Abshir Omar Jama confirmed the diplomatic rapprochement in a Twitter post on Monday.

“Having established diplomatic relations between 1972-1977, we welcome the resumption of diplomatic relations with the Republic of Cuba governed by cooperation and mutual respect,” he wrote.

Cuba’s ambassador to Somalia, Juan Manuel Rodriguez, was one of three ambassadors who submitted credentials to Somalia’s president, Hassan Sheikh Mohamud, on Tuesday.

Somalia’s Jama met the Cuban ambassador on Monday before Rodriguez’s meeting with Mohamud.

“Honored to receive the credentials of the newly appointed ambassador of the Republic of Cuba to the Federal Republic of Somalia, Amb. Juan Manuel Rodriguez,” Jama said. Rodriguez is also Cuba’s ambassador to Kenya.

India Rejects China’s Renaming of Places Along Disputed Border India rejected on Tuesday the renaming

by China of places in what India regards as its eastern state of Arunachal Pradesh, which China claims as part of its territory.

China and India fought a war along parts of their poorly demarcated 3,800-kilometer frontier in 1962, and clashes in mountainous regions in recent years have seriously strained relations between the nuclear-armed neighbours.

The latest angry exchange of words was triggered on Sunday when China’s Ministry of Civil Affairs issued a statement saying it had “standardised” the names of 11 places, including five mountains, in what China calls its southern Tibet region.

The statement included a map that showed the 11 places renamed by China as being within “Zangnan”, or southern Tibet in Chinese, with Arunachal Pradesh included in southern Tibet and China’s border with India demarcated as just north of the Brahmaputra river.

Cameroon Says Separatists Slowing Reconstruction in Western Regions Cameroon says fighting between troops and rebels is slowing the rebuilding of homes, schools, hospitals, and other public buildings in its troubled western regions. Authorities say in the three years since the launch of a reconstruction plan for thousands of homes and hundreds of public buildings damaged in the seven-year separatist conflict, less than 100 have been rebuilt.

In a Tuesday broadcast on Cameroon state media, 50 children sang in their classroom at the Cameroon Baptist Convention Inclusive Primary School.

The children sang that they love their school because, without it, they would not be able to count from one to 10 and speak English well.

Vega Gladys is the head teacher at the school in Bamenda, the capital of Cameroon’s mostly English-speaking Northwest region.

She says the government repaired the school last year after it was damaged in 2018 during clashes between troops and anglophone separatists.

Vega said the number of children in the school has increased from tens of students in 2018 to several hundred this year, some displaced from ongoing fighting.

Trade, Ukraine Top Agenda as France’s Macron, EU’s von der Leyen Visit China French President Emmanuel Macron and European Commission President Ursula von der Leyen arrive in China Wednesday for a three-day state visit to discuss trade, human rights, and especially Ukraine with President Xi Jinping, amid ever-closer ties between Beijing and Moscow.

The trip will be Macron’s first to China since 2019 and von der Leyen’s first as head of the European Union’s executive arm. Analysts and officials have downplayed expectations for any major outcome, though the two leaders will likely prod China to limit its support for Russia’s invasion of Ukraine.

“My understanding is it is very much about re-engagement,” said Tara Varma, a visiting fellow at the Brookings Institution in Washington, who specialises in IndoPacific issues. Macron and von der Leyen are expected to hold talks with President Xi on Thursday. Macron is also scheduled to visit the southern city of Guangzhou.

The trip aims to present a common European front toward China, analysts say, amid growing friction on several fronts. Both sides have high stakes for improving ties, including China’s position as a top EU trading partner.

In a recent speech that Chinese officials criticised, von der Leyen warned Beijing against directly supporting Moscow in its war on Ukraine and described EUChina relations as “more distant and more difficult.”

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DISCUSSING FCT APPROPRIATION BILL...

L-R: FCT Minister, Muhammadu Musa Bello; Minister of State FCT, Dr. Ramatu Tijani Aliyu, and Director FCDA, Engr. Shehu Hadi, at a meeting with the Senate Committee on FCT to discuss 2023 PHOTO: JULIUS ATOI Statutory Appropriation Bill for FCT held in Abuja... yesterday

2023 Presidential Election an Embarrassment, Says US-based Atiku Support Group Calls for visa ban for election riggers Emmanuel Addeh in Abuja A United States-based founder of Atiku Diaspora Support Group, Franklin Ekechukwu, has described the February 25 presidential election in Nigeria as an embarrassment and a travesty.

Describing it as a great disap-

pointment, he called on United States and United Nations to make declarations to support Nigerian people and reject all forms of election malpractices and violence in Nigeria.

The group further called on the US to reject all results, actions and events emanating from an election

it said was marred by malpractice and violence and impose US visa ban on all those responsible for the malpractices “It’s an embarrassment and a slap to all Nigerians, and lovers of democracy, a sham, a travesty to the system, a rape of democracy and outright disregard and violation

of the law,” he stated.

He alleged that the Independent National Electoral Commission (INEC) arrogantly, deliberately, intentionally, and brazenly disregarded its own electoral guidelines, violated the electoral law of 2022, and totally abandoned the constitution of Nigeria.

Ekechukwu stated that the situation denied the Nigeria people, the poorest of the poor, the weakest of the weak and the downtrodden their fundamental right of free and fair election.

“The report from the international community observers around the world strongly suggested a midnight

Group Says South-east Senate Presidency Will Check Obi's Phenomenon, IPOB Agitation Sunday Aborisade in Abuja A pressure group, Concern Nigerians for Sustainable Democracy (CNSD) has said the emergence of the 10th Senate President from the South-east geopolitical zone would drastically dilute the Peter Obi's phenomenon in the region.

The Convener/Coordinator of the group, Dr. Amps Gizo, stated this at a news conference in Abuja, yesterday.

Gizo also added that peace would be achieved in the South-east because the Senate President from the zone would facilitate an end to the agitation by the Indigenous Peoples of Biafra (IPOB) and the Eastern Security Network.

The group noted that the South-east has two All Progressives Congress (APC) governors from Imo and Ebonyi states, while the latter also has an APC governor-elect Gizo said the South-east geopolitical zone stood a better chance of producing the next Senate President unlike the South-south region because the latter produced only an APC governor-elect.

Justifying the need to support a South-east Senate Presidency, Gizo said the region produced six APC senators-elect for the 10th National Assembly from five states, while the south-south has six APC senators-elect from six states.

He said, "From 1999 till date, the south-south has produced vice-president and president of the Federal Republic of Nigeria in the person of President Goodluck Jonathan, none from south-east "South-south has produced two APC National Chairmen in the persons of Chief John Oyegun and Adams Oshiomhole, none from south-east "The south-south has produced

also the National Secretary of APC in the person of Senator John Akpan Udodeghe. The south- south has produced Senate Majority Leader in the person of Senator Victor Ndoma Egba "Currently, the south-south has the Deputy Senate President, Ovie Omeagege.

"The South-east produced the Senate President in 1999 under Obasanjo and nothing more till date. Since then, the south-east has not produced any other top leadership under APC. "Presently, there is need to dilute the Peter Obi phenomenon in the south-east.”

Speaking further, he said: "There is also the need to give south-east a sense of belonging since 2015 till date under the APC, with a Senate President.".

Apart from that Gizo said there was need to douse the IPOB/ ESN and general insecurity in the south-east.

He said the, "South-east is in the majority in terms of population spread across the federation against the south-south.

"Our position is to strengthen democracy, reduce political tension, reduce security threats and keep Nigeria one.

"We are not mindful of the fact that democracy is a game of numbers, but we are equally mindful that Nigeria is a cosmopolitan and a multi-religious state that needs special handling in the spirit of keeping the Nigerian state one.

"This world press conference desires all attention and with all seriousness to avoid an avoidable crisis."

The group said the presidentelect Senator Bola Tinubu has so much on his hands to tackle.

These it listed to include the backlog of the security challenges,

the naira redesign and cashless policy, the fuel scarcity, the high level of unemployment, education deficit, infrastructural developments, medical services, among others.

He said, "Presently as we face the transition, there are negative agitations to truncate the will of the people where Senator Bola Ahmed Tinubu has been voted by the majority votes to lead the nation yet other anti-democratic elements are calling for an interim government, military coup and a call to stop the swearing in come May 29th 2023.

"We are calling on all well-

meaning Nigerians to rise against these elements of anti-democracy and ensure that democracy thrives and a smooth transition to swear in the president-elect Tinubu, to take over in order to minimise the myriad of problems facing the country.

"The most serious arm of government after the executive arm is the legislative arm.

"This conference is to address the nation on where leadership of this very important arm especially the Senate President will be zoned to for stability, sustainable democracy and for total integration.

“In the first place, the Muslim-

Muslim ticket that almost cost the APC the success at the polls has come and gone and Nigeria now has the number one and two both as Muslims if the nation is to stand the Senate President form the North West they should step down for the sake of democracy and inclusiveness.

"All the likely contestants from the North West are Muslims. The political crises this attempt will cause may consume the nation.

If the APC truly want to rule for 16 years and even more this balance is not negotiable, it must be taken seriously and be conceded to a Christian from the south-east."

robbery perpetrated by the same people appointed to defend and protect the masses, by not following the constitution, the electoral law, and their guidelines,” he added.

He called on the US and all defenders of democracy to hold the Nigerian umpire, the electoral commission responsible.

In what he said was the pursuit of justice, he called on the Nigerian judiciary to simply do the right thing and correct what he described as the injustice perpetrated by the electoral commission.

“Justice must be blind; the judiciary must deliver justice by upholding the law regardless of whose Ox is gored. The mandate of the people must be judiciously returned to the people regardless of who the winner is,” he demanded.

He also said that an order for immediate arrest of all involved in violating, most importantly the constitution, and the electoral law of 2022 must be made.

Ekechukwu stressed that constitutional democracy remains a process where the voiceless, the poorest of the poor and the weakest of the weak use the only tools they possess to make their voices heard.

But he added that when that singular fundamental right within the constitution is denied, the powerful are simply telling them that they have no right to exist.

Chrisland School: Witney Adeniran’s Parents to Testify at Coroner Inquest April 17 Wale Igbintade The Coroner, Magistrate Olabisi Fajana has invited parents of late Witney Adeniran, a 12-year-old student of Chrisland International School Limited who died on February 9, 2023, to testify at the Coroner inquest. The court disclosed that parents of the late student are to testify on April 17.

The Coroner Magistrate disclosed this yesterday, when she ruled on the application of Chrisland International School Limited seeking samples of materials to carry out an independent evaluation of the autopsy report conducted by the Lagos state government.

Lagos State Attorney General and Commissioner for Justice, Mr. Moyosore Onigbanjo had on February 13, ordered a coroner's inquest to establish the cause of Whitney's

death.

By Section 14(1)(d) of the Coroners’ System Law of the Lagos State, “A report of death shall be made to any of the agencies for the report of death or the office of the Coroner and be subject to post-mortem examination where there is reasonable cause to believe that the cause of death was: violent, unnatural or suspicious.”

"Section 15(1) and (9) further enjoins the Coroner to hold an inquest whenever he or she is informed that the death of the deceased person was in a violent, unnatural or suspicious situation or believes an inquest is desirable following the report of a reportable death.”

On March 2, the state government announced that Witney died as a result of Asphyxia and electrocution.

This was stated in the post-mortem report received by the state on the cause of Adeniran's death.

The coroner inquest was then fixed for April 4, to commence hearing.

However, on April 3, Chrisland School filed an application, seeking for an order of the court, granting leave to the applicant to be supplied with and have access to items from the chief medical examiner of the Lagos State University Teaching Hospital or relevant officer so as to enable the school consult with an independent pathologist.

The items the school asked for were the paraffin block of the skin sample and slides from which the diagnosis of electrocution was made.

Others items requested were samples of the urine, blood and other body fluid collected during autopsy, and samples of bone and muscle taken from the deceased for purpose of DNA independent analysis.

Also requested were all photo-

graphs taken during the conduct of the autopsy, copies of all histology slides reported as part of the post mortem examination, copies of any other working sample and documents made in the course of the autopsy and result of all toxicology test conducted.

When the matter came up yesterday, Magistrate Fajana granted all the request of the applicant.

The court ordered that the chief medical examiner of the Lagos State University Teaching Hospital should supply all the listed items to the applicant's pathologist laboratory on the day of the forensic consultation.

Fajana ordered that the consultation should be under the supervision of the chief medical examiner of the Lagos State University Teaching Hospital or relevant officer.

Others to be present are the parents of the deceased.

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IWS PRESIDENT INVESTITURE...

L-R: Past President and Ex-official, International Women’s Society (IWS) Nigeria, Nkoli Obi-Ogbolu; President, Mrs. Izabella Abia-Okon; chairman of the occasion, Senator Lanre Tejuoso and IWS member, Mrs. Mercy Ezenwa during the investiture of Izabella Abia-Okon as the 66th President of the IWS…recently

APC Suspends Ogah, Akomas, Nwaogu, Onuigbo, Five Others for Anti-party Activities Emmanuel Ugwu-Nwogo in Umuahia The All Progressives Congress (APC) yesterday announced the suspension of nine party chieftains in Abia State for the role they played to undermine the party during the 2023 general election by openly working for rival political parties.

The suspension of the erring party members was made known in a letter jointly signed by the chairman of Abia State chapter of the APC, Dr. Kingsley Ononogbu

and secretary, Chief Chidi Avajah, which was addressed to the National Chairman of the party.

According to the state party leadership, the suspension of the affected party chieftains took place at their various wards before it was ratified at the state level and communicated to the national secretariat.

Listed among the suspended members were former minister of state for mines and steel development, Mr. Sampson Uche Ogah, who was suspended in ward 8 Isuikwuato local government.

He was accused of donating his bill boards to the PDP governorship candidate, "after he lost his frivolous case at the Supreme Court" and also "for sponsoring his younger brother Amaobi Ogah to contest the House of Representatives seat under the Labour Party.

"Ogah also publicly donated and campaigned with the Labour Party governorship candidate," the party said.

Former Pro-chancellor of University of Calabar, Senator Nkechi Nwaogu, was suspended at ward 8 Osisioma Ngwa local govern-

ment for openly supporting and campaigning for the governorship candidate of the Young Progressives Party (YPP).

In ward 4, Aba North Local government the Executive Secretary of the National Land Development Agency(NALDA), Paul Ikonne was also suspended supporting and campaigning for the PDP governorship candidate, including donating vehicles to him.

Hon. Sam Onuigbo who represents Ikwuano/Umuahia federal Constituency, was suspended at his Ward 3 Ikwuano local government.

He was accused of supporting the presidential candidate of the LP, Mr. Peter Obi and the PDP candidate for Ikwuano/Umuahia federal constituency, Hon Chinedum Orji.

The former Abia deputy governor, Dr Chris Akomas of Ward 3 Obingwa local government and Hon Anyim Nyerere of Ward 4 were both suspended for supporting the governorship candidate of PDP, Chief Okey Ahiwe in line with the Ngwa agenda.

Former Speaker of Abia House of Assembly, Hon. Stanley Ohaju-

ruka of Urban Ward 1, Umuahia North Local government was suspended for "open support for LP governorship candidate, Alex Otti.

In ward 1, Obingwa LGA, the hammer fell on Hon. Sam Nkire for "open support for the PDP governorship candidate Okechukwu Ahiwe as same Ngwa agenda to produce governor in the 2023 election.

Mr Nduka Anyanwu of Ward 2 Ibeku East Umuahia North was suspended for open support for the LP candidate Dr Alex Otti.

Kwara Lawmaker, Olawuyi, Joins MAN Commends FG's to Halt Proposed Race for 10th Assembly Speaker Decision Increase in Excise Duty Udora Orizu in Abuja

A member of the House of Representatives, representing Ekiti, Isin, Irepodun and Oke-ero Federal Constituency of Kwara State, Hon. Abdulraheem Olawuyi (APC) has officially declared for the Speakership of the 10th National Assembly.

While making the declaration in Abuja, yesterday, Olawuyi who is the chairman, House Committee on Emergency and Disaster Preparedness said he has the vision, experience, competence, humility, and the requisite knowledge to provide required and equitable leadership, that ensures inclusive participation of all members to pilot the affairs of the House and the country.

The third term lawmaker reeling out his plans if elected Speaker, promised to promote transparency and accountability in the operations of the House of Representatives.

According to him, the citizens have a right to know what is happening in their government, and the House under his leadership will be transparent and accountable.

He also promised to prioritise bills aimed at improving the lives of the constituents, such as affordable healthcare, security, education and job creation etc.

While vowing to foster a spirit of bi-partisanship and cooperation in the house, he also vowed not to compromise standard of governance because of personal interest.

Olawuyi said, "As many of you have noticed, our country is facing unprecedented challenges at this time. The challenges range from security to the economic downturn which has been unprecedented in the history of our nation, and it is crystal clear that Nigerians are in need of courageous and competent leaders at all levels that will take over from the outgoing leaders with the expectation that things will change positively for the generality of Nigerian who have through the ballot have overwhelmingly given their support through the ballot to the APC to continue to manage the affairs of our dear country for the next four years.

"The challenges of leadership

are no doubt daunting and the expectations of Nigerians are nonetheless very high, this new administration will be committed to fix the identified challenge: and provide the needed political, economic, social direction that would inspire a “Renewed Hope” for our country and its people. “Finally, I believe that we need to address structural reforms that will make the House sore responsive to the needs of our citizens. 1 assure you that if elected, I will work with you as equals to pass pro-people Bills and 80 promote policies that will benefit all Nigerians from various backgrounds, as well as work with all parties and stakeholders to unify the country.

Stakeholders Urge Marketing Practitioners to Brace Up for More Challenges Stakeholders in the marketing profession have been urged by experts to prepare for a difficult time ahead in 2023.

This call was made at the just concluded The Industry Summit 4.0 with the theme: “how marketers should handle 2023" recently in Lagos.

Speaking at the event, the chairman of the occasion who is also the chairman of STB-McCann, Mr. Steve Omojafor disclosed that, the outcome of 2023 election petitions and national population census (NPC) would define how marketers would handle 2023 and subsequent years, noting that, how positively or negatively the sector would be affected remains a matter of conjecture.

The marketing expert was quoted in a statement to have further said, “what we do know,

however, is that the Marketing Communication Industry in Nigeria, will not be immune from both local and global trends.”

For example, he continued, “the World Bank in its Global Economic Prospects (January 2023) makes it clear that the pronounced weaknesses of the United States, Europe and China, which are described as ‘the world’s three major engines of growth, would have ‘adverse spillovers for emerging markets and developing economies.’

According to him, “this is not hard to understand, I am not an Economist, but it is safe to say that marketers should expect a bumpy ride in 2023. In Nigeria, for instance, when you throw in a mish-mash of the country’s low crude production, weak exports, the dynamics of the workplace and importantly, a budget deficit

of N11.34trillion, derived from a projected total revenue of N10.49 trillion and total expenditure of N21.83 trillion, budgeted by the outgoing Buhari administration, it is easy to infer that the picture is far from rosy either for the country’s economy or, more strongly, for us in the Marketing Communication Industry.”

While presenting the first paper at the event entitled: “Turn Data to Action: How Marketers Can Rationalise & Drive Efficiencies with Intelligence”, keynote speaker, Tolu Ogunkoya, Regional Group Managing Director, OMD West and Central Africa (WeCA), who was represented by the Executive Director, mediaReach OMD, Yinka Adebayo pointed out that, ”some say, Data is Oxygen, Data is life but, for us, data is blood, adding that data is needed to address the gaps

in today’s dynamic environment / everchanging landscape.”

According to him, “big data is like teenage sex: everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it, to sum it, business is about having foresight, agility, scale and tenacity.”

“We should learn never to waste a crisis situation because crisis will always be the best platform for good managers to excel. Your ability to showcase your potential is when you are in deep situation. If everything is going on normally everybody will thrive but when the whirlwind is putting everybody aside and one decided to put in the creative cap at the end of the day you see opportunity,” he noted.

Gilbert Ekugbe The Manufacturers Association of Nigeria (MAN) yesterday lauded the federal government's decision to halt the proposed increase in excise duty on alcohol, non-alcoholic beverages and tobacco.

In a statement signed and issued by the Director General, MAN, Segun Ajayi-Kadir, the directive came as a huge relief to its members across the federation and would signpost the administration’s support for the sustenance of manufacturing in Nigeria.

According to him, the association viewed the federal government's move as one that would encourage its members who are currently struggling with unprecedented low sales, forex squeeze, inadequate electricity supply and multiple taxes and levies from the three tiers of government, maintaining that the move would reassure members of the administration's respect for stakeholders’ engagement and the usefulness of public private sector dialogue.

According to him, a major setback that plagued the productive sector in 2022, was the introduction of an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened beverages. Maintaining that the charge was part of a new policy introduced in the Finance Act, which was signed into law

by President Muhammadu Buhart on December 31, 2021, alongside the 2022 Appropriation Bill, the Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, had stated that the new sugar tax was introduced to raise excise duties and revenues for health related and other critical

expenditures in line with the 2022 budget priorities.

"Although the projected revenue was projected at N81 billion from 2021 to 2025 while the potential loss to government in other forms of taxes and revenue cut leaves much to be desired," he added.

MAN warned that a new tax imposed on carbonated drinks and others would be counter-productive, advising the federal government to devise other means of generating revenue rather than inadvertently stifling the productive sectors which is already struggling "Still grappling with a recent increase in line with a three-year roadmap, the proposed increase in excise on beer, wines and spirits, tobacco and non-alcoholic beverages in 2023, became another nightmare to a sector gasping for survival amidst evident setbacks occasioned by naira scarcity, forex crunch, infrastructure deficit but to mention a few," he stressed.

The Director General added that the palpable apprehension in the concerned sector necessitated another courtesy visit and presentation to the Minister of Finance, Budget and National Planning by a delegation of MAN led its president, Francis Meshtoye and the outcomes allayed the fears.

He said the minister had reassured the delegation of government's commitment to the wellbeing of the manufacturing sector and the concerned sector.

"The association is gladdened by the assurances of the Minister, Zainab Ahmed that the 2023 Fiscal Policy Guidelines and the reconsideration of the Finance Act 2023 have been concluded and would be released immediately.

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NEWS

NIPSS DELEGATION VISITS TRADE AND INVESTMENT MINISTRY...

L-R: Director General, Nigeria Institute of Strategic Studies (NIPSS), Prof Ayo Omotayo, Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo; Minister of State in the Ministry, Amb Mariam Yalwaji Katagum and Permanent Secretary in the ministry, during the visit of NIPSS delegation to the Ministry.... yesterday

Lawmakers Condemn Call for Interim Govt, Warn Aggrieved Parties to Desist from Heating Polity Urge security agencies to be vigilant Move to reduce cost of transporting petroleum products Udora Orizu in Abuja The House of Representatives yesterday condemned alleged plot by the political class to set aside the country’s constitution and put in place an interim government.

The Department of State Services (DSS) had last week disclosed that some persons with entrenched interest were planning to install an interim government in order to truncate the just concluded presidential election.

Reacting to the DSS claim, the main opposition, the Peoples Democratic Party (PDP) described it as a covert plan by the ruling All Progressives Congress (APC) and DSS to subvert the Presidential Election Petitions Tribunal.

At the plenary, lawmakers across party lines contributing

and adopted a motion of urgent national importance sponsored by, Hon. Idem Unyime (PDP, AkwaIbom). They described the plot as unconstitutional and satanic.

While condemning in strong terms the call for an interim government, they mandated the security agencies to be on alert to forestall the possible breakdown of law and order.

The lawmakers warned aggrieved parties to desist from heating the polity and believe in the rule of law, while awaiting the outcome of litigation before the court of law.

Unyime had while moving the motion, said the House was aware that the constitution of the Federal Republic of Nigeria, part 1, section 132, allows for change of leadership through the ballots.

He said the House was also

aware that the constitution allows for a four-year tenure of the president of the Federal Republic of Nigeria after each election cycle.

The lawmaker noted that interim government was undemocratic, unconstitutional, and unknown “to our laws as a court of competent jurisdiction,” had in time past so declared.

He expressed concerns that if the plots were allowed to see the light of the day, “it will result in anarchy, with a price many generations after us will continue to pay for.”

He said, "Aware that the Judiciary is the only institution empowered by law to adjudicate over post-election matters. Concerned that some politicians have made comments that indicate their grievance over the last elections. If this development is left unchecked, we might be sliding

into irredeemable anarchy."

Contributing, Hon. Sergius Ogun, (Edo PDP) while frowning at the call for condemnation, opined that if government was alive to its responsibilities, “this should not even be an issue that will we will be dissipating energy on in the parliament.”

Ogun added: "I think the security agencies should do their work.

If you are asking for a different government not known to law — it is treasonable felony. Year in, year out in this house we budget billions of naira to the office of the NSA and other security arms.

“Is it not a shame that the security agents would come out and say they have the names of people that have muted this type of government in this country you will not arrest and prosecute them

"You're wasting our precious time telling us to condemn it.

If this government is alive to its responsibilities this should not even be an issue that will we will be dissipating energy on in this house.

People are dying every day in this country killed by bandits, killed by hunger. Go to hospitals people are not attended to.

“Children cannot even go to school. Do we even have a government in this country? If the government cannot perform between now and May 28, they should resign and go. Because this is not even an issue we should be discussing here. How can you wake up and tell us some people are debating interim government?

It is a waste of time time for this parliament to even begin to discuss and debate a nonexistent issue."

Also contributing, Hon. Ademorin Kuye (APC, Lagos) particularly frowned at the call by former President Olusegun Obasanjo for cancellation of the result collation.

He lamented that the alleged plot for interim government was so bad that politicians now sponsor protests at national assembly which he said leads to attack on parliamentarians.

On his part, Hon. Sada Soli (APC, Jigawa) said "this motion is timely, apt. The main function of the state services is to protect and defend the country from domestic threats within the country irrespective of the scope. Our committee on National security should have briefed us behind closed door, we shouldn’t have been talking about this here because it’s a national security issue.

But since it has been brought on the floor, it’s timely because it affects Nigerians that we represent in this chamber."

conversation in itself was not about the use of violence. Obi simply asked Bishop Oyedepo to help him convince his congregation in the southwest to vote for him."

Frank stressed that the main responsibilities of the DSS as stated in its enabling Act include counter-intelligence, internal security, counter-terrorism, and surveillance as well as investigating some other types of serious crimes against the state.

He said: "The Department of State Services or the State Security Service needs a complete and total overhaul.

The agency which was established by Military President, General Ibrahim Badamasi Babangida, was supposed to be patterned after the Federal Bureau of Investigation (FBI) in the United States of America or the MI5 Security Service in the United Kingdom."

"But the DSS has since deviated from its core mandate in the last 10 years by becoming a willing tool to the government in power. In recent times, the DSS has focused more on regime protection and fostering the interest of politicians in the ruling party and their allies.

"The DSS and the APC have become one and the same and it is almost difficult to differentiate a statement written by the DSS and the APC." He expressed worry that the most sophisticated security agency in the country descended into the arena of politics in order to favour the ruling party.

Continues online

OBI KICKS AS FG ACCUSES LP PRESIDENTIAL CANDIDATE, RUNNING MATE OF TREASON this is possible,” he insisted.

NCC Denies Leaking Obi, Oyedepo’s Telephone Conversation

The NCC yesterday denied the allegation making the rounds that it had been bribed by politicians to leak the telephone calls of the presidential flag bearer of Labour Party, Mr. Peter Obi. The NCC in a statement issued yesterday and signed by its Director, Public Affairs, Mr. Reuben Muoka, denied the social media report that politicians had bribed the commission to track telephone conversation of Peter Obi. According to the statement, the NCC had been inundated with enquiries by the media on allegations of telephone 'tracking' and 'leakage' made against the commission by some individuals and groups in the social and alternative media.

Part of the statement read: “The commission denies the allegations in their entirety. By the provisions of the Nigerian Communication Act (NCA) 2003 and other extant Laws of the federation, the commission does not and cannot "track" nor "leak" telephone conversations of anyone.

“The commission has reported the allegations, which we take seriously, to relevant security agencies for proper investigation and necessary action.”

The NCC in the statement, restated its commitment to discharge

its responsibilities to the Nigerian people in accordance with the provisions of the Constitution of the Federal Republic of Nigeria; the NCA 2003; and other extant Laws of the Federation; and global best practices.

It therefore advised the public to disregard the allegation.

In another development, the Nigerian Communications Commission's Computer Security Incident Response Team (NCC-CSIRT) has recommended that users of WhatsApp should set up TwoFactor Authentication (2FA) to avoid falling victim to account takeover by hackers.

In an advisory issued yesterday, NCC-CSIRT noted that WhatsApp, which is a Meta-owned service, is increasingly becoming a prime target for hackers and scammers who are always looking for ways to gain unauthorised access to users’ accounts.

The CSIRT described two-factor authentication (2FA) as an identity and access management security method that requires two forms of identification to access resources and data.

According to the advisory, “In the world of messaging apps, one of the most popular and recognizable platform is WhatsApp. WhatsApp is 100 per cent free to use, has a great mobile app, and supports audio and video calls. Whether you rely on WhatsApp for all your messaging needs or just use it from time to time, it is recommended to set it

up with two-factor authentication (2FA). With this enabled, you will need to enter a custom PIN every time you log in to WhatsApp from a new device, adding an extra layer of security to your account.”

The team said: “2FA gives businesses or people the ability to monitor and help safeguard their most vulnerable information and networks. The 2FA is important because it prevents cybercriminals from stealing, destroying, or accessing your internal data records for their own use."

It further stated: "WhatsApp provides two-factor authentication so you can further secure your account using a PIN. It is an optional feature that adds more security to your WhatsApp account, so it is recommended that everyone installs 2FA." The CSIRT listed ten steps for enabling 2FA on WhatsApp, which included: “Open WhatsApp, Tap Settings, Tap Account, Tap Two-Step Verification, Tap Enable, Enter the Six-Digit PIN you wish to use, Tap Next, then enter it a second time to confirm it, Tap Next, Add an email address for extra security (this step is optional but it is an extra way to retrieve your account if you forget your Pin) and then Tap Next.”

DSS Has Deviated from Its Mandate, Says Frank

Frank has alleged that the DSS had since deviated from its core mandate in the last 10 years by becoming

a willing tool to the government in power.

Frank in a statement yesterday, alleged that the secret police had metamorphosed into an intelligence arm of the ruling party.

He noted that while the DSS has the right to intercept unlawful communication, it was not permitted under the law to leak private conversations of individuals.

Frank, therefore, called for the total overhaul of the secret police immediately, saying there was a need for the agency to wake up and restore the lost confidence Nigerians have in its leadership.

He further accused the agency of monitoring and then leaking telephone conversations of some political leaders–opposition leaders in order to embarrass them and to impress the APC elements.

Frank added: “How does someone explain the fact that the DSS has continued to tap the telephone lines and release phone recordings of opposition politicians and influential Nigerians critical of the government.”

He added: "The latest misadventure was a leaked telephone conversation between Labour Party Presidential candidate, Peter Obi, and revered cleric, Bishop David Oyedepo, the founder of the Living Faith Church Worldwide, and presiding Bishop of the Faith Tabernacle in Ota, Ogun State.

"On the eve of the Presidential election, Obi and Bishop Oyedepo had a private telephone conversation.

There was no terror plot and the

University of Benin Management Condemns Brutal Killing of Student Adibe Emenyonu in Benin City The University of Benin (UNIBEN) has condemned the brutal and sad killing of a final year male student, known mostly as ' mayor' on Monday.

The gruesome shooting occurred in one of Halls of Residence and was carried out by yet to be identified gunman in what appeared like a cult-related incident.

The late student who was said to be in the department of Public Administration, was shot at about 9pm on Monday.

While commiserating with the family and colleagues of the late student, the University in a statement through its Public Relations Officer (PRO), Dr. Benedicta Ehanire, said, “Management enjoins other students to be calm as the Police as well as other Security Agencies are working hard to fish out and arrest the culprit.

"Management is also working closely with the internal security units in ensuring that such dastardly incident does not occur again within the University's premises."

WEDNESDAY APRIL 5, 2023 ˾ T H I S D AY

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NEWS

ABDULRAHEEM OLAWUYI EYES HOUSE SPEAKERSHIP…

L-R: Members-elect, Federal House of Representatives, Ahmed Saba; Ahmed Aluko; House of Representatives Speakership Aspirant, Abdulraheem Olawuyi; Chairman, House of Representatives Committee on Power, Magaji Da’u Aliyu, and Ambassador Yahaya Seriki, during the official declaration for the office of the speaker by Olawuyi in Abuja… yesterday

2023 Election: South-east Lawyers Decry Violence, Voter Intimidation, Ethnic Profiling Ask DSS to release Eze Igbo of Ajao Estate

Wale Igbintade The apex law society for lawyers of Igbo extraction, Otu Oka Iwu (Law Society) has condemned, in strong terms, the high level of violence, thuggery, ballot-snatching, voter intimidation, and ethnic profiling which characterised the 2023 elections especially in Lagos State.

The group also expressed concern that many state and nonstate actors as well as traditional institutions were actively involved in the alleged misconduct.

In a statement signed by its

President, Joy Nzube-Uzoeghelu, it noted that police operatives were practically on holidays while thugs roamed the streets assaulting and maiming citizens, stressing that those in charge of security failed woefully in discharging their mandate to the citizens, thereby exposing them to harm and agony.

The group also called on the Directorate of State Services (DSS) to release the Eze Igbo of Ajao Estate, Lagos State, Chief Fredrick Nwajagu, or immediately charge him to court as set out in the Nigerian Constitution.

‘Abducted Students Not Kidnapped in School Compound’ The Kaduna State Government yesterday confirmed that only eight students were abducted along with other citizens, explaining that the students were not kidnapped in the school compound.

On Monday, gunmen whisked away 10 victims from Government Day Secondary School in Awon, Kachia Local Government Area of Kaduna State.

But the state government in its update said it received detailed reports from security agencies on the incident, adding that the students were not kidnapped within the school premises.

The Kaduna State Commissioner for Internal Security and Home Affairs, Samuel Aruwan, said in statement the students were on their way home from school when they met the

bandits, who had abducted other residents.

According to him, the management of the school has submitted the names and classes of the kidnapped students.

Governor Nasir El-Rufai has condemned the abduction, describing it as unfortunate. He also received assurances of efforts being exploited to rescue the eight students and other kidnapped citizens.

Meanwhile, the Kaduna State Government relaxed the 24-hour curfew it imposed on Sabon Garin Nasarawa – Tirkaniya community in Chikun LGA on Monday.

The review, according to the Commissioner, followed a close monitoring and assessment of the situation by security agencies in the area.

The group expressed worry that targeted attacks have not abated even after the elections, which it said was evident in reports of alleged arson attacks on some markets in Lagos State.

The statement reads: “It is

noteworthy that Nigeria held its general election on February 25, 2023 and March 18, 2023 to elect members of the executive and legislative houses.

“We note that the presidential election in particular was keenly

contested especially between the three leading political parties.

“Consistent with the reports of many accredited observers, and coupled with the logistical challenges witnessed during the election, the non-transmission of

the results to the IREV portal by the Independent National Electoral Commission (INEC) was a major setback not only for the general election but for the wide-ranging improvements made to our electoral system since 1999.

NAPTIP Arrests Members of Notorious Sextortion Cult in Abuja

Rebecca Ejifoma

The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has arrested members of a notorious cult known for perpetrating gruesome acts of sextortion, terrorising young girls and others in the Federal Capital

Territory (FCT) and its environs.

Their arrest was said to have followed an intense surveillance and undercover operation ordered by the Director General of NAPTIP, Professor Fatima Waziri-Azi, in response to several complaints by victims and other stakeholders.

NAPTIP, in a press statement

the Press Officer, Vincent Adekoya, said: “It would be recalled that the agency has recently been inundated by a series of complaints from victims of sextortion who have been blackmailed with a plea for assistance”.

The statement also noted that it is sexual exploitation

as it is where the perpetrator uses coercion and threats to compel the victim to produce sexual images or videos engaging in sexual acts and this act is punishable under the Trafficking in Persons (Prohibition) Enforcement and Administration Act, 2015 (as re-enacted).

Bauchi APC Expels Chairman for Alleged Anti-party Activities

SegunAwofadejiinBauchi

The Executive Council of the All Progressives Congress(APC) in Kukadi/Gundari ward in Misau Local Government Area of Bauchi State has expelled the State Chairman of the party, Babayo Misau for alleged anti-party activities.

The Secretary of the party in

the ward, Aliyu Hassan Adamu, who spoke on behalf of the party executives disclosed that after meeting by the party in Misau LGA, they arrived at the decision to expel the state chairman from the party in the ward, adding that they had already intimated the party at the ward and local government level.

He said Babayo Misau never

campaigned for any of the APC candidates during the presidential, national assembly and governorship election, adding that he was conspicuously absent in all their congresses and meetings throughout the campaign period.

Adamu said: “We, the Executives of Kukadi/Gundari ward in Misau local government area of Bauchi

state have agreed to expel Babayo Misau, the State APC Chairman from the membership of the party in Misau LGA because of acts of disloyalty and betrayal to our great party. In his capacity as Chairman of the APC in the state, he neither campaigned nor voted for our governorship candidate during the period of the campaign.”

NLC, TUC Threatens to Resume Strike in Imo State industrial dispute. two-day stand-off with the state several eminent personalities as Onyebuchi Ezigbo in Abuja Organised labour under the auspices of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC ) warned that its members may be forced to resume the suspended strike in Imo state if the state government failed to resolve the lingering

In a letter addressed to Imo state Governor, Senator Hope Uzodinma, dated March 31, 2023, the two labour bodies urged the state government to fix a date for final resolution of the dispute with workers.

NLC had directed workers in the state return to work after

government over non-payment of 20 months arrears of salaries and pensions and alleged interference in the election of the state officers of the congress.

In the statement, NLC’ president, Joe Ajaero said NLC took the decision to suspend the strike due to the interventions of

well as the need avoid disruption of the Saturday’s State Assembly election in Imo state.

He said: “The suspension of the strike is expected to last two weeks during which the state government and it’s agencies are expected to meet the demands of the workers in the state.”

information and strategies that would further strengthen the ongoing war on drug trafficking in the country.

The MoU was signed yesterday at the NDLEA’s headquarters in Abuja by the Chairman/Chief Executive Officer of NDLEA, Brigadier General Buba Marwa (Retd) and the Comptroller General

of NCS, Col. Hameed Ali (Retd).

In his speech during the signing ceremony, Marwa said that with the MoU, the two organisations would collaborate at inflicting maximum loss on drug cartels that are bent on trafficking illicit substances at the detriment of Nigeria and Nigerians.

Marwa expressed his delight at the decision by the two government

agencies to document their working relationship in a MoU, even as he listed the huge benefits of such to the country.

He specifically commended Ali for his excellent record of performance as customs’ boss and his past years of public service in the Nigerian Army, especially as military governor of Kaduna State.

Ondo Residents to Pay N1,000 Yearly NDLEA, Customs Sign MoU to Tackle Menace of Drug Trafficking as Education Endowment Levy MichaelOlugbodeinAbuja

FidelisDavidinAkure

The Ondo State Government has said that all taxable residents of the state are expected to contribute a sum of N1,000 annually for the purpose of funding the education sector.

The State Commissioner for Education, Science and Technology, Mr. Femi Agagu, who said this yesterday while unveiling the Ondo State Education Endowment Fund (OSEEF), in Akure, the state capital.

Agagu explained that the state government had set up a board that comprised of prominent natives of the state to judiciously administer and regulate the fund for the development of education at all levels in the state.

He said that the fund would enable the state government to fund the increasing number of schools under its management Agagu pointed that the government was targeting over one billion naira annually and explained that the fund, when realised, would be expended on provisions of facilities for schools and renovation of dilapidated school structures, and provisions of bursaries and scholarships among others.

Recall that Governor Oluwarotimi Akeredolu re-launched the state’s education endowment fund on Wednesday, November 21, 2018, to expand the funding base of the existing Ondo State Education Endowment Fund (OSEEF).

The National Drug Law EnforcementAgency (NDLEA) and Nigerian Customs Service (NCS) have signed a Memorandum of Understanding (MoU) to work together in tackling the menace of drug trafficking in the country.

The MoU aimed at sharing

Access Holdings Injects $300m Capital Investment in Banking Subsidiary will supplement the capital needs Convertible Instrument and is financial institution in the Kayode Tokede Access Holdings Plc, yesterday on the Nigerian Exchange Limited (NGX) announced its completion of a US$300 million capital investment into its flagship subsidiary, Access Bank Plc. The Company Secretary, Access Holdings, Sunday Ekwochi in a signed statement said the proceeds

of its African expansion strategy.

He stated that over the years, the Bank has made significant strides towards attaining strong market presence in the key trade and payments corridors across the African continent.

According to him, the Investment takes the form of a Tier 1 capital qualifying Mandatory

expected to improve the Bank’s shareholders’ funds and total capital ratios.

“The Central Bank of Nigeria has approved the Investment,” he added.

Commenting on the transaction, Group Chief Executive of Access Holdings, Dr. Herbert Wigwe, in a statement said, “As a leading

continent, we remain foresighted in our approach to our growth and capitalization needs.

“This investment is a capstone initiative following the $500 million Additional Tier 1 capital raised by the Bank in 2021 and advances its vision to be the World’s Most Respected African Bank.

WEDNESDAY APRIL 5, 2023 ˾ T H I S D AY

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NEWSXTRA

PRINCETON COLLEGE CAREER DAY…

L-R: Principal, Princeton College, Steve Obiakor; Public Relations/Event Expert/ Convener, Bodex Social Media Hangout, Bodex Hungbo; Etiquette/Speech Coach, Franca Orakwue; Management Consultant, International Speaker, Coach and Author, Kelechi Anyalechi, during the Career Day at Princeton College, Surulere, Lagos…recently

Police Arrest Suspected Killers of Village Head in Niger Youths send SOS to Govt

Laleye Dipo in Minna Less than one month after gunmen killed the village head of Gusase in Bosso Local Government Area of Niger State, Mallam Abubakar Yahaya, the state police have stated that they have arrested two suspects in connection with the incident.

This is just as youths under the aegis of “Freedom for 56 Under

Bandits Save Our Land” have sent a “Save Our Soul” to the Niger State Government for its speedy intervention following the threat by bandits to terminate the lives of 56 victims in their custody if the N100 million ransom they demanded was not paid.

During the attack on the palace of the deceased traditional ruler, his daughter was also

Buhari Orders NASENI CEO to Hand Over Office Immediately

Olawale Ajimotokan in Abuja

President Muhammadu Buhari has ordered the Executive Vice Chairman (EVC) of the National Agency for Science and Engineering Infrastructure (NASENI), Professor Mohammed Sani Haruna, to immediately hand over his office to the next most senior officer in the establishment.

The Director, Information Office of the Secretary to the Government of the Federation, Willie Bassey, said in a statement

yesterday that the directive followed the reversal of the extension in office granted by the president from April 2, 2023, to April 2, 2025, arising from the fact that the EVC had completed two tenures of five years each in the organisation.

The statement said President Buhari appreciated Professor Haruna’s contribution in the development of the engineering infrastructure sub-sector of the economy, and wished him success in his future endeavours.

kidnapped and taken into captivity.

However, the state Police Public Relations Officer (PPRO), DSP

Wasiu Abiodun, in a statement made available to journalists in Minna yesterday said Risku Suleiman, 34, and

Haruna Umar, 20, of Kupa village near Garatu on the Minna-Bida road have been arrested in connection with the crime.

Abiodun said the suspects were arrested last Friday at Kupa village during a night sting operation in the area.

Ohanaeze Youths Urge FG to Revive South-east Economy Gideon Arinze in Enugu Igbo youths, under the umbrella of Ohanaeze Youth Stakeholders (OYS), have called on the federal government to urgently re-activate the Enugu (Emene) and Aba (Osisioma) Petroleum Depots, as well as the Port-Harcourt Refinery as part of the efforts to revive the economy of the eastern region.

The OYS also said that they remained committed to the non-negotiable unity of the Nigerian state, and condemned all tendencies, elements and factors that militate against the corporate existence and unity of Nigeria.

In a communique issued at the end of a two day retreat in Enugu yesterday, Convener of the OYS, Mr. Arthur Obiora,

said that there was also need for the full functionality of the Port-Harcourt and Calabar seaports for the enhancement of rapid economic recovery of the old Eastern Region.

Obiora said: “We also call on concerned authorities to expedite the internationalisation of the Akanu Ibiam International Airport, Enugu, by assigning more

international flights and routes, while equipping it with modern gadgets for nocturnal landing.”

The group also condemned the conscienceless political actors whose actions, inactions and utterances undermined the gains of the country’s democracy and placed Nigeria on a pedestal of infamy and ridicule amongst the comity of nations.

Bayelsa Expresses Worry over LGAs Pension Liabilities Olusegun Samuel in Yenagoa The Bayelsa State Government has expressed worry over the increasing pension liabilities of the Local Government Areas (LGAs) and the need for drastic steps to be taken to liquidate them.

In order to address this ugly

trend the state government yesterday constituted a 13-member committee to review the pensions and gratuities being owed by the various local government councils in the state.

Setting up the committee in his office during a meeting, the Deputy Governor, Senator

Lawrence Ewhrudjakpo, put the liability at over N7 billion naira, which he noted had become an albatross to the councils.

Senator Ewhrudjakpo pointed out that though it is the responsibility of the various councils to pay the pensions and gratuities of their retirees, present realities indicate that this

would not be possible without the intervention of the state government.

He, therefore, charged the committee to quickly determine the number of actual retirees, the amount involved and recommend effective modalities on how to generate funds as well as pay the retirement benefits.

Communities Lament Gross Neglect by FG, NDDC, Oil Company ASO Savings, Union Homes’Shareholders Delta relevant agencies and prospecting development 23 years after the Eghoro Link Road, the bridge EmenyonuinBeninCity oil producing companies in the area establishment of the NDDC. construction connecting Benin River Recommit to Integration Process Adibe Odeli said: “Of great worry all have been left unattended. The The people of Tisun, Kolokolo, to, as a matter of urgency, address

YusufEbiti

Shareholders of ASO Savings and Loans Plc and those of Union Homes Savings & Loans Plc have restated their commitment towards ensuring the integration of the two firms into a leading mortgage financial behemoth in the country.

Shareholders of ASO Savings and Loans Plc have given the Management of the Mortgage Bank a clean bill of health on the way it handles the acquisition of Union Homes Savings & Loans Plc, insisting that contrary to the claims in certain quarters, the transaction followed all due processes to the

satisfaction of all stakeholders.

Some concerned shareholders of ASO Savings and Loans, Alhaji Tambari Kabiru, Mrs. Bisi Bakare, Alhaji Hamzat Rilwan, and Mr. Alex Adio had on Monday have given the management of the mortgage bank a clean bill of health on the way it was handling the acquisition of Union Homes Savings & Loans Plc. In an advertorial, ASO Savings’ shareholders noted that the integration process was widely accepted by Union Homes staff, enablingASO to commence the task of resuscitating the ailing firm and ultimately bringing it to profitability.

Cultists Kill Man in Ekiti

GbengaSodeindeinAdoEkiti

A man, simply identified as Ajagbe, has been killed by suspected cultists in Ado Ekiti, the Ekiti State capital.

The middle-aged man, said to be a staunch Islamic faithful, was attacked by his assailants in Atundaolu-Irona area of the city last Monday evening.

The man, addressed as Alfa by friends and other folks, was said to have been attacked while heading home passing through the area.

It was gathered that the suspected

cultists shot at the man and when they realised the bullets were not having effect on him, they broke his skull with a big stone.

A source close in the area, who also knew the deceased, said he was known to be a gentleman who could not hurt a fly.

The source also claimed that a man popularly known as Obo, was also killed a day before the incident at the post office/old garage area of the town, suggesting that the killing might be a reprisal attack by the cult group.

Eghoro, Usor, Saghara, Ureju, and Ugbo Tosan communities in Warri North Local Government Area (WNLGA) of Delta State have called on the federal government, the Niger Delta Development Commission, (NDDC), and other

the needs of the communities and complete all abandoned projects.

Chairman, Tisun Management Council, WNLGA, stated in a statement issued in Benin City that their communities are yet to benefit from critical infrastructure

to us are the very significant Koko-Ogheyi -Likki-Lagos Road yet to be constructed, the 6.0 kilometre Tisun-Kolokolo road and the dredging-canalisation of the surrounding water ways.”

He added: “The Abiugborodo-

Ugborodo shore protection and land reclamation, the Orere shore protection and land reclamation are among other abandoned projects as well as the Ugborodo, Orere Deleghe in Warri South West local Government Area.

Police Arrest Two for Allegedly Raping Minors in Adamawa Daji Sani in Yola

Adamawa State Police Command has apprehended two men, 30 and 53, for allegedly raping a seven and nine years old minors respectively.

The police said the two incidents happened in Numan Local Government Areas of the state at Gwalti Village.

A statement signed by the spokesman of the state Police Command, SP Suleiman Nguroje, said the suspects are Murtala Muhammed, 30, a resident in Demsa guest inn area of Numan LGA, AND Pwanbidon Obed, 53, a resident of Gwalti Village also in Numan LGA. They were alleged to have

lured their victims into an uncompleted and completed buildings respectively and forcefully had carnal knowledge of them.

The police said the two incidents were reported at the Divisional Police headquarters in Numan by the parents of the victims.

According to the statement,

preliminary investigation revealed that the former suspect is a taxi driver while the later is a fisher man.

It said: “The state Commissioner of Police, Afolabi Babatola, has directed officer in charge of Family Support Unit to take over investigation and ensure diligent prosecution of the matter.

FG Tasked on Infrastructure, Security to Enhance Tourism, Hospitality Industry Sunday Okobi Nigerian multi-sectoral entrepreneur, Etim Iniobong, has called on the federal government to improve infrastructure and tackle insecurity for the tourism and hospitality sector to deliver more to Nigeria’s Gross Domestic Product (GDP).

Iniobong, while chatting with

THISDAY at a press conference to announce the grand inauguration of his hospitality and tourism centre, Ibizza Pit Hotel and Suites in Ikotun area of Lagos taking place on August 9, said if the government provides more sustainable infrastructures that would aid the industry to reach the zenith, it would help in curbing the economic and social

immigration of Nigerian youths out of the country (popularly known as (Japa), as many would be gainfully employed directly and indirectly.

The investor, who listed some of the challenges confronting the industry to include: absence of stable electricity, multiple taxation and insecurity, however, disclosed that the hotel would offer 24-hour electricity, Closed-Circuit Television

(CCTV), tight security, basement car park, swimming pool, spa among other fantastic facilities.

On why he ventured into hospitality, he said the move was informed by the quest to diversify his investments and create jobs for the unemployed youths in order to contribute to youth empowerment as well as IGR of the state.

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WEDNESDAY, ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Ndidi in Action, Iheanacho Unused Sub as AstonVilla Beat Managerless Leicester at Home PREMIER LEAGUE Duro Ikhazuagbe Wilfred Ndidi was in action for all 90 minutes while his Nigerian international teammate, Kelechi Iheanacho was an unused Sub as Aston Villa compounded managerless Leicester City's relegation worries with a 2-1 victory at King Power Stadium last night.

The Foxes looked set to secure a valuable point in their first game since sacking Brendan Rodgers despite Kiernan Dewsbury-Hall's red card.

Ollie Watkins marked his 100th Premier League appearance by slotting Villa ahead with his eighth goal in 10 appearances after being sent through by Emiliano Buendia.

Villa had only conceded once in their previous five games but were undone by Harvey Barnes' excellent finish after he had shrugged off Ashley Young and cut in from the wing following Wout Faes' raking pass.

Dewsbury-Hall was sent off midway through the second half for a second bookable offence but the Foxes held on until Bertrand Traore curled in Villa's 87th-minute winner.

The drama continued when Leicester were awarded a 92nd-minute penalty - only for referee Graham Scott to overturn his decision after looking at a replay on the pitchside monitor.

Ollie Watkins (right on the turf), has scored in each of his last six Premier League away appearances for Aston Villa.

PHOTO: Courtesy BBC

Petralon Energy Limited Becomes Okpekpe Road Race Official CSR Partner Ikenga Challenges Abia Warriors to Aim for Petralon Energy Limited, a Nigerian upstream energy company has been named the Okpekpe International 10km Road Race official CSR partner.

Disclosing this Tuesday in Lagos, Dare Esan, the Okpekpe race Media Director said Petralon Energy Limited is the latest in the growing list of companies that have identified with the first road running event in Nigeria nay West Africa. It is to officially get World Athletics' authentication as a world-class race.

“Petralon Energy Limited will be the official CSR partner of the race and this is a confirmation of the growing profile of the pacesetting road race in Nigeria,” said Esan.

“The company will be using the sponsorship of the race as a Corporate Social Responsibility tool as well as empowering the Ora Community in Owan West Local Government Area in Edo State on the race day.”

Esan further revealed that Petralon Energy Limited will also offer prize money to the first three Ora indigenes that cross the finish line during the race.

“Okpekpe road race has placed Nigeria on the map of the world as a destination of sort for sports and Petraleon Energy Limited is also

committed to acquiring, developing, operating and financing hydrocarbon assets in the Nigerian oil and gas sector.

“The common ground between the two companies is about ensuring a good image for Nigeria as well as contributing to the development of the economy and health of the nation,” added Esan who is delighted with the partnership.

“For eight years we have organized a world-class event that has seeing the growth of the race from the first to get a World Athletics bronze label status in 2015 to the first to also get a silver label status.

“The ninth edition this year will be a gold label event and we are particularly delighted we have been able to open the door for a road running culture in the country.

“As many as 15 other road races in Nigeria have had their race courses measured by accredited World Athletics/AIMS measurers. With Petralon Energy Limited joining us in this pacesetting role, we believe we can contribute more to making Nigeria a greater country.”

The 2023 Okpekpe international 10km road race will hold on Saturday May 27 in Okpekpe, Edo State.

Barca, Madrid Copa del Rey Cracker Live on StarTimes Barcelona will be aiming to reach the final of the Copa del Rey at Real Madrid's expense when the two adversaries lock horns in the second leg of the semi-finals at Camp Nou this evening.

According to digital pay TV channel, StarTimes, football fans should get ready for non-stop excitement as It broadcast the match exclusively to Nigerians.

The coverage of the Copa del Rey match this evening will be on ST World Football channel at 8pm.

Barcelona currently hold the advantage after winning the first-leg encounter 1-0 last month at Santiago Bernabeu. However, with so much at stake, both teams are sure to

give it their all on the pitch.

With Barca already pipping Real to the Spanish Super Cup title this season, coach Carlo Ancelotti will want to ensure a cup final against either Osasuna or Athletic Bilbao.

Also, the 2nd fixture of Coppa Italia match semi-final match will be aired on StarTimes Sports Premium channel at 8pm.

Underdogs Cremonese seek to continue their superb run by taking a first-leg lead against Fiorentina today.

Having seen off Napoli and Roma on their way to the final four, the Serie A strugglers now welcome the in-form Viola to Stadio Giovanni Zini.

NPFL Title, Seal Eunisell Sponsorship Deal Chairman of Eunisell Limited, Chika Ikenga, has challenged Nigeria Premier Football League side, Abia Warriors, to aim for the NPFL title following the historic sponsorship deal with the chemical, oil and gas company.

For the first time in the club’s history, the Abia Warriors brand now plays with Eunisell on its jersey.

Both parties converged on the Abia State capital, Umuahia, last Friday, to consumate the one year renewable deal.

Leading Sports Marketing & PR agency, MatchRoom Sports and Media Limited, represented both parties in what is the biggest sponsorship for the club.

"We challenge Abia Warriors to elevate themselves to become champions of the NPFL. There is an opportunity to be champions.

Go grab it.

"We are enthusiastic about this relationship and hope that this sponsorship can inspire the players to greater success. We hope that this sponsorship will move the club to think big, to build confidence and overcome fear. To belive that they can succeed and to work very hard.

"We are delighted with the wave of young talent that is injecting the energy required to move Abia

L-R: Chairman, Abia Warriors, Emeka Inyama, Club Captain, Kalu Nweke and Chairman, Eunisell Limited, Chika Ikenga, during the Official Unveiling of the club's jersey to herald Eunisell's sponsorship....recently Warriors Football Club to the next level,” Ikenga, stated at the event.

Reacting, Abia Warriors Chairman, Emeka Inyama, assured Eunisell of the club's commitment to showcasing the brand.

He said: "It is a landmark event in the history of Abia Warriors. We are proud to associate with Eunisell and we will do our best to make

the brand proud."

Determined to inspire the players, Ikenga announced Eunisell's sponsorship of the newly introduced Abia Warriors Player of The Month Award.

The player of the month will receive N100,000 cash from the chemical, oil and gas company.

Eunisell has a rich history of

supporting football clubs in Nigeria and is the sponsor of the highest goal scorer award in the NPFL, popularly called the Eunisell Boot.

Officials of the club and Eunisell witnessed the event.

Eunisell is West Africa’s largest independent chemical as well as oil and gas engineering solutions provider.

Ondo Auto Rally to Light up Ilara Mokin this Easter Nigeria’s leading Motorsport group, 'Work and Play', has concluded plans to host the 6th Ondo Auto Race from Saturday, April 8th to Sunday, April 9th at the purpose-built off-road tracks in Smokin-Hills Golf Course, Ilara Mokin in Ondo State.

President of the group, Adeoye Ojuoko, said that the event has grown bigger with every edition, adding that this year’s edition has drawn interest from the usual and the unusual places because of the growing popularity and experience that Ondo Auto Rally offers.

“Naturally, we know that the usual

clusters of Motorsports communities, enthusiasts, and fans across the country signs-up for our event yearly, but this year, a lot of other interests have joined in. We now have tourism groups, entertainment, and surprisingly the food and beverage industries aligning with us. It is all a sign that we are making progress,” he stressed.

Ojuoko said that the event impacts the haulage and hospitality industry as well as most of the racing cars will have to be hauled from Lagos, Kebbi, Abuja, Enugu, Nasarawa, and Rivers states among others.

“Ilara Mokin is the melting point, and the host community is fast becoming the centre of gravity for Motorsports in Nigeria. Just like in other editions, we would be having surprises and dignitaries joining-in in the drag race and perhaps in the drifting show,” he added.

This year’s Ondo Auto Rally is expected to pull in over a thousand racers and enthusiasts, the group revealed.

Events at the Rally will include an on-road race, that is scheduled for Saturday morning and has recorded a high number of entries including,

from Mercedes and BMW Club members in Nigeria, apart from independent entries. The off-road race will be held later in the afternoon on the race tracks by the Smokin Hills Golf Course. “We have some musicians, Mizz Kizz and Testimony Jaga lighting-up the event as well.”

Work and Play has also announced that there would be a convoy of participants moving from Lagos on Friday, April 7.

Meanwhile, Nibanola Golf Resort in Ondo Town will also host Golfers from across the country on the 7th ahead of the Auto Race.

Wednesday, April 5, 2023

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Price: N250

MISSILE BON to NBC “In the recent times, NBC provides no opportunity to the broadcaster to see the complaints against it not to talk of allowing any form of explanation nor following due process at arriving judgements. “This was the situation of all multiple allegations of ” severe” infractions levied against Channels Television, Daar Communications, Arise TV and Daily Trust Television among many others.” ––The Broadcasters Organisation of Nigeria (BON) urging Information Minister Lai Mohammed to curb the excesses of the National Broadcasting Commission (NBC)

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Boris Johnson in Lagos A

bout 24 hours before former British Prime Minister Boris Johnson delivered a lecture in Lagos last week, a contradiction seemed obvious between his political personality and the theme on which he was to speak.

A member of the Board of Trustees of the Osigwe Anyiam- Osigwe Foundation, organisers of the Lecture, Charles Anyiam- Osigwe, was on Arise News. The anchor, Steve Ayorinde, asked the guest a question to the effect that why was Johnson the choice to speak on a topic that sounds like a chapter of a book on moral philosophy.

This was, of course, a subtle reference to the “partygate” parliamentary inquiry in which the former prime minister is accused of lying about parties he attended during the COVID lockdown three years ago. Johnson’s government imposed the rules in the face of the pandemic. Now the former prime minister is being accused of breaching the rule. Johnson has stoutly defended himself that he did not intentionally mislead the parliament.

In response, the Charles Anyiam-Osigwe made the point that it was in the tradition of the Osigwe Anyiam-Osigwe Foundation to welcome ideas from divergent perspectives. He argued that the forum would be less enriching if only those with same views were to be invited to give lectures. In other words, as Mao Zedong would put it, “let a hundred flowers bloom; let a hundred schools of thought contend.” And indeed the 16th session of the Emmanuel Onyechere Osigwe Anyiam-Osigwe Lecture Series organised in collaboration with the Nigerian Institute of International Affairs (NIIA) was a mine of ideas. It was remarkable that amidst the political ferment in the land, a forum was put together to reflect on deeper issues of our common humanity.

The aim of the Foundation was amply realised.

To start with it was well-attended. Among those present were Chief Emeka Anyaoku, who chaired the occasion; President-Elect Bola Tinubu, who was represented by former deputy governor of Lagos state, Otunba Femi Pedro; Presidential Candidate of the Labour Party, Mr. Peter Obi; Governor Babajide Sanwo-Olu of Lagos State, who was also represented by his deputy, Dr. Obafemi Hamzat; former Foreign Minister Professor Bolaji Akinyemi; Director-General NIIA, Professor Eghosa Osagie; businessman, Paschal Dozie; Chief Ben Obi, politician, and a Senior Advocate of Nigeria, Dr. Muiz Banire.

The Foundation staged the lecture last week in furtherance of the ideas of a moral philosopher, philanthropist and entrepreneur, Emmanuel Onyechere Osigwe Anyiam-Osigwe. According to the Foundation, the “Lecture Series is a scholarly examination of the Integral Parts of the Holistic Approach to Human Existence and Development including the inter-relationship between the parts with a view to making them applicable in the individual’s life for his upliftment and that of the society.” The Foundation primarily promotes Anyiam-Osigwe’s thoughts on the issues of social justice, inequality, poverty, environment, world peace and spiritual well-being. The Nigerian Philosophical Association gave Anyiam-Osigwe a post-humous award of a “Sage Philosopher.”

Publications about Anyiam-Osigwe’s ideas were also made available at the venue.

Johnson, who is a member of the British parliament, spoke on the theme “Rehumanising Human Experience: A Synopsis of Anyiam-Osigwe’s Treatises.” The former prime minister’s background as a journalist, biographer and politician were brought to bear as he discussed the topic. The freshness of his perspectives is indisputable.

Boris Johnson But before Johnson’s electrifying lecture, other speakers provided more than an appetiser for the main course. The Coordinator of the Foundation Chief Charles Anyiam-Osigwe actually set the philosophical tone of the lecture when he said, as he formally welcomed guests to the occasion, that “in earth-bound existence, whether in the development of the sciences, technology, architecture, environment, economics and economic policy, agriculture, industry, ethical sustainability, man is the factor in giving direction and determining the depth of development.” He also said Lagos is home to the Anyiam-Osigwes as he and some other members of his family had their primary and secondary education in Lagos. Governor Sanwo-Olu rejected the tendency to “always demean” one’s country without offering alternative solutions to the problems. He spoke through his deputy, Dr. Hamzat, who acknowledged the constructive role of the only daughter of the Anyiam-Osigwe family, Peace Anyiam-Osigwe. Sadly, the highly resourceful lady died in January this year. The governor described her as a partner of the government in the development of the state. She “helped” in the training of thousands of young persons in different areas of the creative sector, according to

the governor. In the course of his lecture, Johnson also paid tribute to Peace Anyiam-Osigwe for her creativity and sense of social entrepreneurship. In the process, Johnson told the story of his infancy to speak in favour of gender equity, saying that his own sister was the smarter kid in the family.

Anyaoku eloquently gave an apt preview of Johnson’s lecture. He reminded the audience that among Johnson’s books was the biography of another former prime minister, Winston Churchill, entitled “The Churchill Factor: How One Man Made History.” Anyaoku remarked both Johnson and himself are graduates of Classics. He paraphrased the Roman Senator and orator, Marcus Tullius Cicero to say that “the welfare of the people” should be “the bedrock of policy.” Anyaoku recalled a lecture he gave in Ibadan a few months before he was appointed by President Shehu Shagari as Nigeria’s foreign minister in the Second Republic.

The fine diplomat had condemned the corruption that was rife in that republic. When Shagari made reference to those critical comments on the state of things in Nigeria as the diplomat assumed office in September 1983, Anyaoku drew the President’s attention to the introduction of the lecture in which he quoted Churchill : “When I am abroad, I always make it a rule never to criticise or attack the government of my own country. I make up for lost time when I come home.”

And that was exactly what Johnson did when he came to Lagos nine days ago. He opened his statement poetically that listening to earlier speakers before him, he was already “rehumanised” in rhythm with the theme of the lecture. He assumed the role of the salesman of the British economy and socio-political values. He made no mention of the socio-economic challenges facing Britain including inequality, an energy crisis, homelessness and health sector strikes. Rather he presented a picture of the United Kingdom as a great country. He shared his experiences as the chairman of transport of committee of the London city council, mayor of London and prime-minister, to prove that an efficient state could promote the common good in sectors such as security, education, transport, healthcare, electricity, environment etc.

Johnson boasted about the alleged superiority of British vaccines and technology made “in liberal democracies” over the ones manufactured in countries “under dictatorships.” On the metro projects, he told the Lagos State government to do business with British companies and not with

Chinese, Spanish, French etc. After all, as he said, Nigeria shares with Britain the same language and time-zone as well using the same “adaptor for laptops.” Johnson reminded his audience that Cambridge university alone has produced more Nobel Laureates than Russia and China put together.

Above all, Johnson celebrated the supremacy of the rule of law in his country as well as the will of the people in the democratic process. For him, his current ordeal in the parliament has shown that no one is above the law in the UK. Johnson put matter like this: “Imagine the Russian police arresting Vladimir Putin? Can you imagine the Chinese police doing the same to Xi Zing Ping?

It shows to me that the law is enforced in my country without fear or favour.

“Whether you are rich or poor, you will receive the same scrutiny and the same protection, the same protection in the UK that is the first and most crucial freedom and the precondition for economic growth and investment. “Freedom under the law. Freedom to live your life as you choose within the law, provided you do no harm to others.

With extreme freedom and indispensable freedom is the right to choose those who govern you.

“You have the right to remove them and it’s very precious. It is called democracy. And it works…” As the director-general of NIIA, Professor Eghosa Osagie, admirably summed things up when he remarked that Johnson’s statement was akin to “bringing back the re-engineered state.” In Johnson’s statement the return of the state is quite obvious. According to the eminent political scientist, it was like Johnson brought “the parliament” to Lagos. This, he said, differed from the “neo-liberal orthodoxy” that was taught in schools in the 1980s with the rise of Reaganomics and Thatcherism in the United States and United Kingdom respectively. The neo-liberal battle cry was that the state should shrink if not disappear in in the socio-economic realm. However, Osagie said that today, “the state has the responsibility to make our humanity matter… We must build our humanity.”

So, Johnson came to Lagos to promote the virtues of his country at a time the system at home is rigorously holding him to account. He has been accused of violation of the rules.

This is the basic lesson for those Nigerians who make it a virtue of going to western capitals to present their country perennially as a crime scene.

Crisis Must Be Averted in Nigeria

By Jimoh Ibrahim

T

he order of the first protocol of my memo to you comes from the ante etymology of the Latin ante bellum (before the war), for I hope that normalcy will prevail and there will be no third world war. Our actions preventing such will save us from the other protocol of observing the IHL rules of jus in Bello. Since we want total prevention of suffering, it is morally reprehensible for me for anyone to think of any war in the circumstances of jus ad bellum.

Yes, and specific to the United Nations, the law requires punishing any threat to international peace and security. There is nothing to wait for if the domestic threats graduate, as the UN will be expected to lift Articles 2(4) and (7). Please reverse

my earlier memo on interventions for international peace and security as we saw in the case of Iraq (1991), intervention for national security in Bosnia Herzegovina (1995) or intervention for human security in Afghanistan (2001), or intervention after R2P (responsibility to protect) the case of Kosovo (1995) and Darfur (2008) the Convention on Prevention and Punishment of the Crime of Genocide (1948).

Contemporary international relations prevent the collaborative activities of terrorists and the genocide of crime against humanity.

The May 29, 2023 inauguration of President-elect Bola Tinubu will be an incredible advancement of democracy in a developing country. It is inevitable as a destiny with a collaborative geo-centric world to order international peace and security. Even in the face of the realist (power currency), it is not negotiable. The

total peace of humanity is the reason for our sacrifices in the last three years of our convergence.

It is left for me to sound a warning for the historical trajectory that the First World War was triggered by the assassination of Archduke Franz Ferdinand of Austria-Hungary (just one individual). Again, these are the consequences of alliances, imperialism, militarism, and nationalism. It is also not the case that we forgot the event of the Blank Check Assurance: Conspired Plans of Germany and Austria-Hungary and the Germany Millenarianism – Spirit of 1914.

In any event, we will remember Athens and Sparta of the Peloponnesian War, the precarious Peace of Nicias, or the battle of Mantinea in 418 BC. But, Nigeria cannot afford another civil war. *Jimoh Ibrahim, Ph.D. sent this memo to a classmate

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