MONDAY 10TH APRIL 2023

Ortom: We Will Not Be Provoked into Taking Up Arms Against Anyone Atiku condemns Benue, Zamfara killings, urges FG to protect citizens Police confirm escalation of banditry in Sokoto Informants sabotaging our efforts, military official hints George Okoh in Makurdi, Chuks Okocha in Abuja and Onuminya Innocent in Sokoto In the aftermath of the gruesome

killing of more than 134 people, allegedly, by Fulani herdsmen in Benue State in the last five days across three local government areas of Otukpo, Apa and Guma, the

state governor, Samuel Ortom, has said indigenes would not be provoked into taking up arms against anyone.

In a statement yesterday, Ortom

described the killings as “heinous and cowardly”.

Former Vice President and presidential candidate of Peoples Democratic Party (PDP) in the

security of life and property in the country.

Relatedly, Sokoto State Police

2023 election, Atiku Abubakar, condemned the resurgence of killings in Zamfara and Benue states. Atiku called on the federal government to guarantee the

Continued on page 5

With 89 Expected Assets, Nigeria to Top Africa’s Upcoming Oil, Gas Projects by 2027...

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At Easter, Nigerian Leaders Advocate Love Among People Osinbajo, CJN, CAN, Obaseki, others urge reciprocity in Christ-like values Deji Elumoye, Onyebuchi Ezigbo, Alex Enumah in Abuja, Emmanuel Ugwu-Nwogo in Umuahia and John Shiklam in

Kaduna Prominent Nigerians, yesterday, greeted the Christian community

in the country on the occasion of this year’s Easter celebrations, using the opportunity to advocate love among citizens, especially, at

this critical time in the Nigeria’s history.

Among those who sent love messages to the Christian

community were the vice president, Professor Yemi Osinbajo; Chief Justice of Nigeria (CJN), Justice Olukayode

Ariwoola; Christian Association of Nigeria (CAN); and Edo State Continued on page 5

Tributes Pour in as Bola Ajibola, 89, is Buried in Abeokuta

Buhari, Obasanjo, IBB, Tinubu, Osinbajo, Atiku, Lawan, Abiodun, Sanwo-Olu, others mourn, pay last respect I appointed him AGF against position of people who described him as controversial, says ex-military leader Reveals the deceased didn’t receive salary throughout his service to fatherland Deji Elumoye, Chuks Okocha, Adedayo Akinwale, Olawale Ajimotokan, Sunday Aborisade in Abuja and James Sowole in Abeokuta A torrent of tributes poured in from prominent Nigerians in honour of one of Nigeria’s foremost legal mights, a former president of Nigerian Bar Association (NBA) 1984-1985, former High Commissioners to the United Kingdom, one time judge at the International Court of Justice at the Hague, and erstwhile AttorneyGeneral of the Federation (AGF) and Minister of Justice, Prince Bola Ajibola, who passed on yesterday at the age of 89. He was immediately buried in Abeokuta in line with Islamic rites.

Ajibola’s death attracted many statements of condolence from far and near, while some paid their last respects to the deceased’s family at his Abeokuta home.

Among prominent Nigerians, who paid tribute to the dead were President Muhammadu Buhari, former President Olusegun Obasanjo, former military president, General Ibrahim Babangida, and President-elect Biola Tinubu.

Others included the vice president, Professor Yemi Osinbajo; former Vice President Atiku Abubakar; Senate President Ahmad Lawan; the chief mourner and governor of Ogun State, Dapo Abiodun; Lagos State Governor Babajide Sanwo-Olu; and former Continued on page 5

FAREWELL TO A PRINCE OF THE GOLDEN ERA OF JURISPRUDENCE… World Bank Advocates Debt Former Governor of Ogun State, Olusegun Osoba; eldest son of the deceased, Adesegun Ajibola and Vice President of Restructuring for Poor Countries... Page 12 L-R: Nigeria, Yemi Osinbajo at the internment service for the late World Court Judge, Prince Bola Ajibola in Abeokuta on Sunday

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PAGE FIVE TRIBUTES POUR IN AS BOLA AJIBOLA, 89, IS BURIED IN ABEOKUTA Ogun State governor, Aremo Olusegun Osoba.

Ajibola, who died in the early hours of yesterday following old age-related ailments, according to his family, was buried after Janazah prayer led by Chief Imam of Egbaland, Sheik Sa'dallah Bamgbola.

His remains were interred within the sprawling Islamic Mission for Africa (IMA) premises, a centre he established decades ago on Abiola Way, in Abeokuta, the state capital.

Osinbajo, Obasanjo, Osoba, Deputy Governor of Ogun State, Noimot Salako-Oyedele, and Chief Judge of Ogun State, Justice Mosunmola Dipeolu, were among those, who attended the burial in Abeokuta.

Buhari, while commiserating with the legal community in Nigeria and worldwide, noted in a release issued by his media adviser, Femi Adesina, that the outstanding lawyer and eminent jurist used his God-given knowledge, intellect, and talent to advocate for justice, fairness, and equity in all his undertakings within and outside Nigeria.

The president said the late Ajibola, having risen to the pinnacle of his career, took his brilliance in law practice to the International Court of Justice at The Hague, where he served between 1991 and 1994.

“His contributions to the development of our legal system cannot be overstated, serving as the Attorney General and Minister of Justice at a critical period in the nation’s history,” the president

stated. “His patriotic inclinations, integrity and passion for service and advancement of humanity will continue to resonate after him,” he added.

Buhari also sympathised with the government and people of Ogun State as they mourned the illustrious citizen for the educational and social development he brought to his community and environs.

The president prayed the Almighty to grant Ajibola Aljannah.

Babangida, in a statement he personally signed, said, “I feel a deep sense of pain on hearing the news of the sudden demise of our former Attorney-General, Prince Bola Ajibola: a great Nigerian, an unimpeachable patriot, a sound legal mind, humanist, and a quintessential legal luminary of global reputation. His death, no doubt, marked the end of an eventful career of an exceptional Nigerian, whose love for country was total.

“As a government, when we tried to appoint Prince Ajibola as Attorney-General of the Federation, there were certain persons, who cautioned us against it, saying the late Prince was a controversial personality, who would give us a headache. I insisted that was the more reason why we should appoint him; with the hope that he would guide us on the path of law and reason, and not sentiments; which he did.

“As a true Nigerian patriot, throughout his service to the nation, he refused to receive a salary. He

served our nation pro-bono. He was very passionate about the place of Nigeria in the comity of nations.

There was never a day he asked to be paid his salaries during and/ or after his meritorious service to the nation. Prince Bola Ajibola is an exceptional patriot of repute.

“At 89, he lived his full circle.

His sound knowledge of law and the legal profession was legendary.

He was a man with robust ideas about governance. He shaped the direction of our government and contributed in no small measure to deepening our body of laws. He was friendly, engaging, and selfless.

He was a great mind whose love for country is remarkably worthy of emulation. I will personally miss this great Nigerian, who gave us a lot of ideas on how to lead our country.”

Tinubu expressed sadness over Ajibola’s demise, in a statement signed by Mr. Tunde Rahman. He sent his condolences to the family of the legal luminary and founder of Crescent University, Abeokuta.

The president-elect also acknowledged Ajibola's important contributions to Nigeria's political evolution and nation-building, legal profession, and international jurisprudence, saying, "I received the news of the passing, on Sunday, of Prince Bola Ajibola, SAN, at 89, with profound sadness.

“The former Nigerian Minister of Justice and leader of the Bar was an eminent statesman and legal icon, whose contributions to national progress and development will

be written in gold.

“During his earthly sojourn, Prince Ajibola didn't just serve his country with his gift of extraordinary brilliance as a lawyer, he served the world as a judge of International Court of Justice in The Hague and Member of its Permanent Court of Arbitration (PCA)."

Osinbajo, who arrived the burial venue about 4.57pm, spoke with newsmen in Abeokuta and said his personal interaction with Ajibola as Special Adviser, would be indelible in his heart.

The vice president said, “Prince Bola Ajibola was someone I worked with as a special adviser, when he was federal attorney general and one thing he demonstrated was his belief in Nigeria, and that one could serve in the public domain with integrity.

“I am sad that he is no more.

As Segun, his first born, has said, ‘I am actually his first-born. It's a great honour that I knew him and he mentored me.”

Abiodun ddescribed the Ajibola’s death as a big loss to the judiciary, and said his legacies in the judiciary, philanthropy, and the educational development of Nigeria would never be forgotten.

The Ogun State governor commiserated with the Owu Royal Family, his friend, Obasanjo, and members of the Baptist Boys' High School Old Students Association. He said Ajibola’s death was saddening, devastating, and the end of an era.

Abiodun, in a statement by

AT EASTER, NIGERIAN LEADERS ADVOCATE LOVE AMONG PEOPLE Governor Godwin Obaseki.

Speaking with newsmen shortly after the Easter Sunday service at the Aso Villa Chapel, Abuja, Osinbajo called on all Nigerians to show love to one another. He asked Nigerians to remember God’s love to humanity during this season and always.

Osinbajo said, “My message is contained in the scripture in John 3:16, ‘For God so loved the world that he gave his only begotten son that whosoever believes in him will not perish, but have eternal life.

“It’s a message of the amazing love of Jesus Christ; amazing love of God, that he gave up his son so that you and I will not have to pay again for our sins. So, it is an amazing day; a fantastic day and I wish you all a Happy Easter and a great and happy resurrection morning."

Osinbajo was accompanied to the service by his wife, Dolapo, and Secretary to the Government of the Federation, Mr. Boss

Mustapha, his wife, among others In his Easter message, State House Chaplain, Pastor Joseph Seyi Malomo, stated that Easter was a time of sacrifice and a time to remind everyone of God’s love and His salvation of mankind.

CJN: Pray for Peace, Tranquillity

Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, felicitated with Christians in Nigeria and the world over during this year's Easter celebration.

Ariwoola, who also greeted Muslim faithful in the country over the on-going Ramadan fast, counselled both Christians and Muslims to use the two occasions to pray fervently for peace and tranquillity in the country.

The CJN said, in the statement he personally signed, “It is with gratitude to Almighty Allah, the most gracious, the most merciful, the most benevolent for His grace at this season, when both

Christians and Muslims all over the globe are fasting and calling on Almighty God for protection and blessings that I express my greetings to all.

"I am using this opportunity to thank my brother Justices of the Supreme Court of Nigeria and our supporting staff for their unalloyed cooperation since the beginning of the current legal year of the 2022/2023 which started in the mid September, 2022.

"I want to specifically appreciate and acknowledge my brother Justices who have delivered 272 judgements in the normal civil, criminal and election related appeal under immense pressure.

We appreciate, adore and give glory to Almighty God who has continued to keep us all in good health.

“I wish the Christian faithful a joyous Easter and the Muslim Ummah a rewarding Ramadan and happy Eid- el- Fitr."

Show Love to Underprivileged Folks, CAN Urges Nigerians

President of Christian Association of Nigeria (CAN), Archbishop Daniel Okoh, enjoined Nigerians to be peaceful and show love to the less privileged persons. Okoh urged the citizens to remember the less fortunate in the society and extend a hand of love and kindness to them.

In his Easter message, Okoh said, "Easter is a time of hope and renewal, a time when we celebrate the resurrection of Jesus Christ and the power that gives a new beginning. It is a time, when we reflect on the sacrifices that Christ made for us and the new life that his resurrection represents.

"As a nation, Nigeria has faced many challenges in recent years, from insecurity and economic instability to social and political unrest. However, just as Christ Continued on page 42

ORTOM: WE WILL NOT BE PROVOKED INTO TAKING UP ARMS AGAINST ANYONE Command confirmed the rise of banditry in some communities in Gwadabawa Local Government Area of the state. The police said the situation was responsible for the rising tension in some villages within the council area.

Ortom reiterated his call on Buhari to come to the aid of residents of the state.

The statement made available to THISDAY by Chief Press Secretary to the governor, Nathaniel Ikyur, said Ortom spoke when he paid a condolence visit to the Mgbam community in Nyiev council ward of Guma Local Government Area, where 36 people, including internally displaced persons (IDPs) were killed by Fulani herdsmen last Friday, while over 40 people were injured.

The governor said the president should not just stop at mourning with the families of the bereaved, but should also direct security agencies to go all out to arrest the Fulani militia, who had made life unbearable for the people of the state.

He said the time had come for the president to act fast beyond words and with concrete actions to end the killings.

Ortom, however, appealed to the communities and their leaders to continue to be law abiding but also be vigilant at all times to be

able to ward off the assailants.

The governor also visited the Benue State University Teaching Hospital, Makurdi, where those injured in the attack were receiving treatment.

Speaking to journalists after going round the wards, Ortom bemoaned the mindless killings by marauding invaders. He said in the last five days similar attacks by armed herders in three local government areas of the state, including, Otukpo, Apa and Guma, had claimed over 134 innocent lives.

Earlier, District Head of Nyiev, His Highness, Bernard Shawa, who lost a son and a daughter in the attack, recalled how the assailants stormed his community about 9pm on Friday night and began shooting sporadically, killing and wounding his subjects. He said the victims were mostly those already displaced from their ancestral lands and were taking refuge in a primary school near his home.

Mue Ter Ihyarev, who also spoke on behalf of Ter Guma, HRH Dennis Shemberga, expressed deep shock over the unprovoked killing of his subjects by the armed herdsmen. He appealed to Ortom not to be discouraged by the spate of renewed attacks on communities, and urged Buhari to send more

troops to the troubled areas to end the killings.

On Monday, April 3, herdsmen launched an attack on Ikobi community of Apa Local Government Area killing 47 persons, including a traditional ruler, who was killed along with some of his subjects.

Similarly, on Wednesday, April 5, the invading herdsmen unleashed mayhem on Umogidi community in Entekpa Council Ward of Otukpo Local Government Area, where they massacred another 51 persons and sacked the community.

The devastating attacks by marauding herdsmen in Benue communities resumed after the February 25 presidential and National Assembly elections.

Kwande, Guma, Gwer-West, Logo, Apa, Agatu, Otukpo local government areas are some of the major flashpoints.

Within 48 hours, the attacks moved to the Umogidi community of Entekpa ward in Otukpo Local Government Area, where 51 persons lost their lives.

From the scenes of the Friday night attack, the governor visited survivors, who were receiving treatment at the Benue State University Teaching Hospital in Makurdi and commiserated with them.

A survivor, Mnenna Orkega,

who lost her 10-year-old daughter, told newsmen that they were all asleep when they heard gunshots.

“I tried to escape through the window, when a herdsman grabbed my child and killed her,” she said.

Others who narrowly escaped said the whole attack was horrific and sad.

The Benue State police command confirmed that 28 people were killed and several people sustained gun injury.

In a short message by the Police Public Relations Officer (PPRO) Catherine Anene, a Chief Superintendent of Police (CSP), the police confirmed the attack at Mgbam.

Anene said 28 corpses were recovered and deposited at the hospital morgue, while investigation was on-going.

However, Atiku, in a statement, noted, "The resurgence of violence and killings in parts of the country after a lull, stands condemned.

“The attack and killing of scores of innocent citizens in Umogidi, in Otukpo LGA of Benue State, and the kidnap of dozens of young people in Wanzamai village in Zamfara have no place in our country.

"They are a reminder that a lot Continued on page 41

his Chief Press Secretary, Kunle Somorin, said, “The death of this illustrious son of Ogun State, a celebrated jurist and judicial activist, public intellectual and elder statesman, is a severe blow to all of us, who knew him.

“Words cannot adequately convey my heartfelt sorrow over Papa’s death, for he was a kind and beautiful soul, who spread love to all who encountered him."

Secretary to the Government of the Federation (SGF)/Chairman, Presidential Transition Council (PTC), Mr Boss Mustapha, also reacted to the news of Ajibola’s death on behalf of the Federal Executive Council (FEC).

In a statement by Director, Information, Office of the Secretary to the Government of the Federation, Willie Bassey, the SGF chronicled Ajibola's contributions to the development of the legal profession, both locally and internationally. He described the deceased as a respectable judge who served at home as Attorney General of the Federation and Minister of Justice, as well as Judge at the International Criminal Court (ICC) at The Hague, Netherlands, from 1999-1994.

Mustapha stated, “Ajibola also contributed to the development of Nigeria's educational sector as founder of Crescent University, Abeokuta, Ogun State. He was also a diplomat of repute, having served as Nigeria's High Commissioner to the United Kingdom from 1999-2002.

“FEC condoles with the government and people of Ogun State, family and friends of the deceased, and prays to God to grant him Aljanah Firdaus.”

Atiku, in a tribute he signed, said, "It is with a heart filled with pain, but with gratitude to the Almighty, that I share my condolences about the passing of Prince Bola Ajibola.

“Pain because there are only a few Nigerians, who grew in status to the heights of the Prince from a noble Egba family. I am happy in another way because, being a Muslim myself, I am certain that Prince Ajibola would, himself, have elected to make his passing in the glorious month of Ramadan."

The former vice president said there were many things to remember Ajibola for, adding, "That he was a doyen of the law profession and his accomplishments as a jurist of note is the most basic of the things that we shall tell of his memories. Of course, he did the country proud, when he served at the International Court of Justice at The Hague, as well as during his years of service as Nigeria’s envoy to the United Kingdom.

“But what was spectacular about the late eminent jurist was how his values of forthrightness and candour, which, by the way, is emblematic of his Egba heritage, reflected in all other spheres of his earthly engagements.

“As a diplomat, jurist, educationist – or any other role that you may wish to describe the late Prince Bola Ajibola – what is consistent about his character is the overwhelming presence of rectitude and forbearance in every of his endeavours.

“Those two qualities of his personality are the secret codes to his achievements in life. I am sure that they are qualities that his family and friends will be proud of, and we should immortalise in memory of him.

“Prince Ajibola was always at peace with his Creator and fellow humans, when he was at this side of the divide, and the legacies of his lifetime should be a beacon that should call younger Nigerians to an exemplary life that he lived.”

Lawan and Chief Whip of the Senate, Orji Kalu, also condoled with the family of Ajibola.

Lawan described the late elder statesman as an erudite lawyer and international jurist, who left bold imprints on the study and practice of law both within and outside Nigeria. He noted that as former President of the Nigerian

Bar Association (NBA), and one time Judge of the International Court of Justice (ICJ), the late Ajibola impacted tremendously his legal profession and will not be forgotten.

Kalu, a former governor of Abia State, while commiserating with the government and people of Ogun State, extolled Ajibola’s virtues.

He stated that the late jurist was forthright, bold, courageous and patriotic.

Sanwo-Olu described Ajibola’s death as a big loss to the legal profession, the education sector, Ogun State, and Nigeria as a whole, saying he served his country and the world meritoriously at different levels.

In a condolence message by his Chief Press Secretary, Mr. Gboyega Akosile, Sanwo-Olu commended the ex-ICJ judge for his legacies, sacrifice and dedication to nation building and service to mankind.

The governor praised Ajibola’s contribution to the judiciary and education sector as a lawyer, World Court Judge, and founder of one of the foremost private universities in Nigeria, Crescent University, Abeokuta.

He stated, “On behalf of the government and people of Lagos State, I want to express my sincere condolences to the family, friends and associates of Prince Bola Ajibola on the demise of our elder statesman and renowned jurist.

“Prince Ajibola lived a fulfilled life, having made positive impacts during his lifetime. The elderly and wise counsel of the jurist will be sorely missed, not only by his family, but the entire people of Owu Kingdom and Ogun State, where he played active roles in its development for many years before he passed on.

“I want to urge the late Prince Bola Ajibola’s family, friends, judiciary and education sectors and the entire people of Owu Kingdom to immortalise the good name of the late lawyer and educationist.

I pray that God will grant him eternal rest and give his immediate family, friends and the people of Ogun State the fortitude to bear the irreparable loss.”

Osoba described the late Ajibola as a passionate personality, whose interest in education and law could not be rivalled. He noted that Ajibola had to sell almost all his properties to set up a university, when the burden to contribute to the development of education in the country was rife.

“Ajibola was a thorough prince of Egbaland, who believed in the legacies of our forefathers,” Osoba said, adding, “He invested everything he had into education and law in Egbaland, Nigeria and the world as judge of the world court in The Hague. We will miss him.”

Malami Mourns Ex-AGF Ajibola Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, SAN, mourned the death of the former AGF, who served between 1985 and 1991. This was made known by Special Assistant on Media and Public Relations, Office of the Attorney General of the Federation and Minister of Justice, Dr Umar Jibrilu Gwandu, in a statement issued to newsmen in Abuja on Sunday.

Malami said the death of late Prince Bola Ajibola created a huge vacuum in Nigeria’s legal space.

He added that as a patriotic citizen, the former AGF was a seasoned legal icon of international repute whose impact remained indelible in Nigerian history and beyond.

While praying God for the repose of the soul of the deceased, Malami also prayed that the Almighty grant the country, families of the late jurist, Ogun State and, indeed, the entire nation the fortitude to bear the irreparable loss.

Malami prayed the Almighty Allah to grant Ajibola Jannatul Firdaus.

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MONDAY, APRIL 10, 2023 • T H I S D AY

NEWS

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

COURTESY VISIT… L-R Air Vice Marshal, Niyi Ojuawo (rtd); Ekiti State Governor, Mr Biodun Oyebanji; Founder, Afe Babalola University (ABUAD), Aare Afe Babalola; Chief of Air Staff, Air Marshal Oladayo Amao; and Vice Chancellor, ABUAD, Prof Samaranda Olarinde; during a courtesy visit to Aare Babalola at the University Campus, Ado- Ekiti… recently

With 89 Expected Assets, Nigeria to Top Africa’s Upcoming Oil, Gas Projects by 2027 Dangote refinery, OML 13 to boost country’s share of continent’s projects Emmanuel Addeh in Abuja With 89 assets under construction, spanning the upstream, midstream and downstream of the oil and gas sector in Africa, Nigeria will between 2023 and 2027 top the continent’s upcoming projects in the sector.

Information from GlobalData, indicated that Africa will witness 492 oil and gas projects in all, commencing operations during the period, with the country dominating the upcoming projects’ landscape.

To push Nigeria’s share of the projects will be the Dangote refinery in Lagos and Oil Mining Lease (OML) 13 in Akwa Ibom which are expected to begin operations this year.

“Among the upcoming field projects in Nigeria, OML 13 is a key field project during the 2023-2027 period, with a total production capacity of 184,333 barrels of oil equivalent per day (boed) and a project cost of $3.2 billion. Among refineries, the Lagos I refinery is a key project with a cost of $16.1 billion and a capacity of 650 million barrels per day (mbd),” it stressed.

THISDAY learnt that the Nigerian National Petroleum Company Limited (NNPC) through its upstream subsidiary and Natural Oilfield Services Limited (NOSL), an indigenous operator, are jointly handling exploration work on OML 13.

It’s a large block in Akwa Ibom State, Nigeria’s oil rich Niger Delta and is reported to hold in place

Russia/Ukraine Crisis: Foundation Supports Europe's Quest for Peace in China Hammed Shittu in Ilorin A peacebuilding organisation, Foundation for Peace Professionals also known as PeacePro has nudged the European Union (EU) quest to explore peaceful means of ending the Russia/Ukraine crisis through the mediation of a global peace proponent like China.

PeacePro also said that, EU's alliance with the United States of America, especially on the Ukraine dispute was not only hurting the people of the region, adding that, it was also prolonging the conflict experience of the people that may affect the long term behavioral pattern with real psychological effects.

In a statement issued in Ilorin on Sunday by the Executive Director of PeacePro, Mr. Abdulrazaq Hamzat, PeacePro maintained that, "it is in EU's long term benefits to work with global partners, who wants to end the crisis, rather than stick with United States of America alone, who's strategic interest seems to be tied to prolonging the crisis."

He said, "Europe should be open to all global players, explore all peace possibilities and take decision based on primary interest

of maintaining peace and economic prosperity."

According to him, the leadership of EU is currently in China to explore possibility of peace, “but the body should not take hardline position that may prevent concrete agreement with China due to other consideration outside its control, instead it should allow Europe's own interest to dictate its position.”

Hamzat maintained that, the interest of United States of America was not same as that of Europe, “neither is the effect of the ongoing war same for both parties.”

"Europe should therefore put peace in the region ahead of other consideration" Hamzat said.

Speaking further, PeacePro director explained that, the role being played by France to facilitate peace in Ukraine had been impressive, even though it was yet to yield much positive result.

He argued that, the latest move

by France and the EU to explore possibility of peace through China was a welcome development.

Hamzat noted that the move would produce a positive outcome if given real consideration, devoid of external influence.

volumes of over 900 million barrels of oil and 5 trillion cubic (tcf) of gas.

Nigeria has also recently concluded the bidding and award process for about 57 marginal fields which, other things being equal, would likely begin to produce first oil from the end of 2023.

In addition, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has begun the process of concluding a minibid round for seven deep offshore open blocks which will likely boost Nigeria’s oil and gas reserves.

The seven deep offshore blocks covering an area of approximately 6,700 km2 in water depths of 1,150m to 3,100m, are intended to be the first in a series of bid rounds aimed at further development of Nigeria’s prospective petroleum basins.

The GlobalData report stated that of the projects expected in

Africa, upstream would total 139, midstream should be the highest with 162, refinery should total 77 while petrochemicals would be 144.

In the midstream sector, it stated that the trunk/transmission pipelines segment alone constitutes 34 per cent of all projects, followed by oil storage and gas processing with 28 per cent and 22 per cent respectively.

Refinery and petrochemical projects, it said, constitute 39 per cent of all upcoming oil and gas projects in Africa between 2023 and 2027.

GlobalData added that new build projects dominate the upcoming projects’ landscape in Africa, constituting 82 per cent of the total across the value chain.

The share of new build projects, it stressed, is especially high in the midstream sector, with 38 per cent of the total new build projects while expansion projects lead in

the upstream (fields) sector.

It pointed out that around 40 per cent of projects in Africa are in the construction and commissioning stages, and are more likely to commence operations during the outlook period.

Besides, the report noted that another 40 per cent of projects are in the planning stages, while the rest have either been approved or are awaiting approval.

“In the Nigerian oil and gas sector, fields and refineries are set to lead upcoming project starts, accounting for about 57 per cent of the total project starts between 2023 and 2027,” added GlobalData, a leading data and analytics company.

In the report tagged: ‘‘Africa Oil and Gas Projects Analytics and Forecast by Project Type, Sector, Countries, Development Stage, Capacity and Cost, 2023-2027,’’ the firm revealed that 34 fields and

32 refinery projects are expected to start operations in Nigeria during the period under consideration.

Furthermore, the midstream sector is expected to witness substantial project starts, with the oil storage and gas processing segments leading with 12 and 11 projects, respectively in the country.

Oil and Gas Analyst at GlobalData, Himani Pandey, commenting on the report, noted that Nigeria remains critical to oil and gas exploration on the continent.

“Being one of the leading exporters of crude oil in the world, Nigeria continues to focus on the development of fields to sustain future oil and gas production.

“There is also a focus on the development of refineries and oil storage projects in Nigeria in order to reduce imports of refined products and boost exports,” he said.

Doctors Reject Move to Clampdown on Migration of Medical Professionals Onyebuchi Ezigbo in Abuja The Medical and Dental Consultants Association of Nigeria, (MDCAN) has opposed the bill seeking to compel newly trained doctors to work for five years in the country before being granted qualifying licence to seek greener pastures elsewhere.

The proposed legislation which has passed the second reading at the lower chamber of the National Assembly is to discourage doctors from leaving the country in droves and heightening the brain drain scourge.

According to the bill sponsored

by Hon. Abiodun Ganiyu Johnson, the aim was to make it mandatory for fresh medical graduates to provide services to Nigeria for up to five years before receiving a full registration and license to practice.

However, in a statement jointly signed by the President of MDCAN, Dr. Victor Makanjuola and General Secretary, Dr. Yemi

Raji, stated that the bill was not only discriminatory and harsh, but also against the interest of the people.

The doctors said the bill violates the constitution of Nigeria, as Section 34 (1) b states that, “no person shall be held in slavery or servitude” while section 34 (1) (c) states that, “no one shall be required to perform forced or compulsory labour.

The statement added: "We received with a rude shock the news of a bill purporting to make it mandatory for fresh medical graduates to provide services to Nigeria for up to five years before receiving a full registration and license to practice.

"This proposal is such that they would not be able to leave the country until after five years post qualification. It is even more worrisome that the bill has passed through the second reading."

It stated that what the proposed legislation may achieve if passed into law would be to increase

the pool of unemployed and disenchanted Nigerians rather than providing solution to the problem of exodus of medical professionals.

MDCAN said that it has along with sister associations in the health sector, provided to the appropriate agencies of government both useful and practical suggestions on how to remedy the situation but that none heeded such advice.

It said healthcare workforce shortage was a global phenomenon that required international collaboration to address, through well thought-out, fair, and just guidelines. Hence, enacting a law to address such a global issue with a local quick fix is an over kill.

It added that MDCAN has over the past two years, been in the forefront of calling the attention of policy makers in government and other critical stakeholders to the ongoing, massive health sector brain drain.

It further said the 2022 survey on exodus of medical professionals

revealed that over 500 consultants were estimated to have left Nigeria over the preceding two years.

"While we look forward to the public hearing to clarify our views on the floor of the Parliament, it is our hope that the points enunciated above will get the proponents of this bill to strongly consider its withdrawal to save cost on further legislative processes on the bill.

"We hereby convey our total rejection of the Bill and pray that it should be thrown out completely.

"Laws and policies that enhance the rate of production of good quality health care manpower while promoting the desire and willingness of health care workforce to stay back in the country should be the core focus of the National Assembly at this time.

"As the National Assembly remains the bastion of our democracy, laws that will make light of the most draconian military dictatorship should not emanate from our Hallowed Chambers," it said.

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NPC VISITS NCC… L-R: Director-General, National Population Commission (NPC), Dr. Osifo Ojogun; Chairman,Hon. Nasir Kwara; Executive Commissioner, Technical Services, Nigerian Communications Commission (NCC), Engr. Ubale Maska; Coordinating Director, Census Data Quality Management, NPC, Foluke Adebayo, and , Head, Project, NCC, Philip Eretan, during the courtesy visit of NPC delegation to the Commission in Abuja ... recently

Petroleum Engineers: How Nigerian Oil Firms Can Access Funding for Major Projects Emmanuel Addeh in Abuja The Society for Petroleum Engineers (SPE) has said that Nigerian companies should not fret over funding for major projects as far as they build Environmental, Social and Governance (ESG) policies into such project plans.

Following the global energy transition, investment in fossil fuels has continued to dry, as International Oil Companies (IOCs) and financial institutions have come under immense pressure from their governments as well as activist investors to cut funding for hydrocarbons production.

Speaking during a press briefing after the SPE 2023 edition of the Annual Oloibiri Lecture Series and Energy Forum (OLEF) in Abuja, the Council Chairman of the society, Mr Felix Obike, noted that as financing becomes increasingly more difficult, Nigerian firms could begin to build in ESG to make access to funding easier.

He explained that although financing for less capital intensive projects could be sourced incountry, but for big ticket ones, it would be almost inevitable to approach global banks.

“The funding is something that we can break into models.

If I need $1 million to produce

a small gas compressor station that will give me 1000mw, it can be sourced...but it is very tough to get financial aid unless driven by net zero target,” he noted.

“That comes with of course trying to have a milestone and a plan to reduce your net emissions. They will actually give you quickly. So, you have to show it, there has to be that comfort zone. You have to show the confirmation that you are conforming to these ESG policies,” Obike noted.

The SPE helmsman pointed out that Nigeria will not abandon its natural resources, in the guise of pursuing net zero, but explained that the country will continue to

work towards exploring cleaner fuels.

“We will definitely harness our resources which is gas and set up some technologies which we have already started doing to try to reduce our carbon emissions,” he stressed.

According to him, the majority view is that the industry will continue to harness the opportunities to produce the resources available in a safe manner.” And of course, we will reduce the emissions through technologies applications,” he posited.

On ramping up gas production in the country, Obike said that there has to be a ‘modular’

Nigeria’s Neighbour, Chad Expels German Ambassador for Alleged Disrespect Emmanuel Addeh in Abuja The Republic of Chad has ordered the German ambassador, Gordon Kricke, to leave the country owing to his “lack of respect for diplomatic customs”.

In a terse statement at the weekend, the Chadian government asked Kricke, who has been serving as Germany’s ambassador to Chad since 2021, to leave in 48 hours.

The country’s communication ministry said: “this decision of the government is motivated by the discourteous attitude and the lack of respect for diplomatic customs”.

The ministry did not expand on the reasons it gave for Kricke’s expulsion.

Kricke had criticised delays in holding elections after the 2021 coup and a ruling last year that would allow Mahamat Deby, the interim military leader, to run in elections in 2024, Reuters quoted Chadian government sources as saying.

Military leaders in the Central African country originally promised an 18-month transition to elections when Deby seized power after his father, President Idriss Deby, died.

In 2022, however, the military junta extended the timeline by two years, delaying elections until October 2024.

The decision sparked protests which saw the military using force to handle the riot. Dozens of civilians were killed.

The German embassy joined others, including the United States, in expressing concern over the delayed return to democracy in Chad.

Kricke has been in the role since July 2021. He has previously served as a diplomat in Niger, Angola and the Philippines. He was also a special representative for Germany in the unstable Sahel.

A government source told AFP, on condition of anonymity, that Kricke was seen as “interfering too much” in the governance of the country, and making divisive remarks. He had been warned on several occasions, the source added.

Military leaders in the Central African country originally promised an 18-month transition to elections when Deby seized power after his father, President Idriss Deby, was killed on the battlefield during a conflict with rebels, ending decades of authoritarian rule.

But last year, the military government extended the timeline by two years, delaying elections until October 2024, sparking protests in which dozens of civilians were killed, and worrying regional powers and the United

States who have warned against extending military rule.

Many diplomats in the country, which borders Libya, Niger, Nigeria, Cameroon, the Central African Republic and Sudan,

sharply criticised the violence.

The German embassy joined others, such as France, Spain and The Netherlands, in expressing its concern about the delayed return to democracy.

approach to developing gas reserves and making them available in in sectors and in towns.

“Different companies will set up in modular approaches, and try to solve power issues around where they operate and around their reach. So, if all of these companies would do that , it means we can actually go a long way, not just to create more value but to solve issues around power availability.

“So we're not just selling what we have and making our economy to grow, we are also meeting the needs of the communities in Nigeria. That is one key way that technology comes to play,” he explained.

Also speaking, the Vice Council Chairman, Mr Salahudeen Tahir, said that as the transition continues, Nigeria and other countries have made their voices very clear that they will not abandon fossil fuels immediately.

“Now, we have readily available resources, gas. We have about 210 TCF of gas and it's building every year. So would you want us to throw away that gas and just move to net zero when the developed countries have gone

through a phase of using coal, fossilised fuels, petrol and then gas and now you're talking about wind, solar and so on and so forth.

“We have made a case, it has been accepted. It is generalised that gas is a transition fuel, that gas is what we have. And clearly, it was stated that we need to effectively harness that gas. We need to effectively and efficiently harness it for energy security, for availability, affordability and to grow our economy,” he noted.

On ongoing plans to develop the country’s gas resources, he mentioned the LNG Train Seven, with Train Eight in view, the AKK pipeline, the OB3 pipeline, among others.

“We were flaring about 70 per cent of the has we were producing , but today we are flaring less than 10 per cent. We can do better, but of course we have achieved,” he said.

He added: “We have witnessed progressive challenges in financing, but I can assure you there have been a ton of events.

The Ukraine Russia war is clearly one of such where you would have noticed that, especially the European countries moving from gas to coal.”

Senate Presidency: Group Urges Desperate Northern Aspirants to Emulate Musa on Zoning Sunday Aborisade in Abuja A pro-democracy group, The Quintessential Professionals in Politics (TQPIP) has urged aspirants seeking to become the Senate President from the northern part of Nigeria to emulate the Senator representing Niger East Senatorial District, Sani Musa, by supporting the All Progressives Congress (APC) zoning arrangements in the interest of peace, fairness and justice.

The National Chairman of TQPIP, Dr. Ibrahim Abubakar, made the appeal in a statement made available to journalists in Abuja, yesterday.

Abubakar admitted that the election of National Assembly presiding officers was basically based on ranking, competence, character and experience but also stressed the need to consider ethnic and religious sentiments in the whole process.

He said there were news reports

that except there was an urgent intervention by the APC leadership, some desperate aspirants from the north might frustrate the ruling party’s zoning arrangements for the leadership positions in the National Assembly.

Part of the statement read, "Already, Senators Barau Jibrin (North West), Abdulaziz Yari (North West), Ali Ndume (North East) have categorically stated that ethnic or religious considerations do not matter when talking about the National Assembly leadership positions.

"Some of them had also threatened to go against the wish of the party by contesting the position if the APC leaders' zoning arrangements were not fair enough.

"We consider the position of these aspirants as an aberation because of the need to ensure that all parts of the country are carried along in the current move by the incoming

administration of Asiwaju Bola Tinubu to reconcile all the aggrieved people of the country after the just concluded presidential election.

“They should emulate Senator Sani Musa, who had already expressed his willingness to sacrifice his ambition in the interest of unity and peaceful coexistence of Nigeria.

"Musa had also said the only condition that could make him to consider the position of the Deputy Senate President is if a competent Christian aspirant who is running for the office of Senate President convince him to step down, with genuine reasons.”

They added: "The Senator sees Nigeria as a secular nation and had stressed the need to ensure balance between the two main religion in the country.

"Musa had told the whole world that the tension that heralded the Muslim-Muslim ticket of the All

Progressives Congress presidential candidate and his running mate, should be avoided in the race for the Senate Presidency.

"He had also said for the exigencies of our time, looking at the volatile situation of what has generated the Muslim-Muslim ticket in this country, he was one person that believes in the secularity of one Nigeria.

"The Niger East Senator had said he believes that, for every reason, there should be give and take in this country.

"Musa had said he was ready to step down for a qualified, competent personality like him in the Senate who has also presented himself for the office of the Senate President and asked him to drop his ambition for him.

"According to him, there is a position of Deputy Senate President, which also is a presiding officer in the National Assembly.

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ENHANCING BULK EXPORTS IN NIGERIA… R-L: Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed; MD/CEO, NEXIM, Mr. Abba Bello and ED, Corporate Services, Dr. Bala Bello, during the presentation of the report of the Survey and Navigational Charts of the Lower River Niger to the Atlantic Ocean to the Minister at her Office in Abuja…recently

In Easter Message, Kukah Says Nigerians Are Ready to Reclaim Their Country Urges president-elect, Tinubu to cut off chains of ethnicity, religious bigotry in Nigeria Tells Supreme Court judges that they have their conscience, God to answer to as they decide 2023 general election cases Chuks Okocha in Abuja The Catholic Bishop of Sokoto Diocese, Matthew Hassan Kukah, yesterday said Nigerians were ready to reclaim their country, “as God guides President Muhammadu Buhari in his retirement at the end of his second tenure on May 29, 2023.”

In his 2023 Easter message, made available to newsmen in Abuja, the clergy also told the president-elect, Bola Ahmed Tinubu, that the most urgent task facing Nigeria was not infrastructure or the “usual cheap talk about the dividends of democracy, but the most urgent mission of

embarking on the psychological journey of making Nigerians feel whole again and cutting off the chains of ethnicity and religious bigotry and placing the nation on the path to our greatness, of exorcising the ghost of nepotism and religious bigotry.”

Kukah also urged the Supreme Court of Nigeria to remember that they have their conscience and God to answer to as they decide on the cases arising from the 2023 general elections.

According to Bishop Kukah: “As you (President Buhari) prepare to return to Daura or Kaduna, I do not know if you feel fulfilled or

Group Cautions Politicians against Call for Interim Government Udora Orizu in Abuja A group known as the Non-State Actors Consultative Forum (NOSACOF) has urged politicians to desist from calling for an interim government.

The group in a statement signed by its lead convener, Abdulrazaq Alqali described such call as undemocratic, uncivilised and condemnable.

While noting that every democratic election, must produce a loser and a winner, the group advised politicians who felt aggrieved by the electoral process to follow the constitutional means and seek redress in the courts and election tribunals.

It urged Nigerians to rise up and condemn such actors and their plans by upholding democratic values and rule of law.

The group added: "It is very important that well-meaning Nigerians stand firm when politicians put their selfish agenda against the democratic values of our dear country by exploiting religious and tribal lines and making remarks targeting at jeopardising the national unity and security of our country.

"One of the most regrettable actions are the remarks made by the vice presidential candidate

of Labour Party, Dr. Yusuf Datti Ahmad on a National TV, asking the President and Chief Judge of Nigeria (CJN) to truncate the victory of a valid electoral winner (in Mr Bola Ahmad Tinubu). These remarks and comments from Yusuf Datti are extremely dangerous, that every well-meaning Nigerian need to condemn with the strongest voice.

“It is very clear that Mr Yusuf Datti is trying to blackmail the federal government and the Judiciary and clearing the ground for chaos if their court case becomes unsuccessful.”

"It has also been disclosed by the Department of State Security (DSS) about the plans of some disgruntled politicians plan to railroad the country into an interim government arrangement and have been promoting its possibility and advantages.

“It is also worth applauding the stand taken by the Defence Headquarters on this issue, as in the just recently released statement where it acknowledges about such threat and made it very clear that the call for an Interim Government is illegal and unconstitutional and that the Military will stand against such action by upholding our democratic values and rule of law."

that you met the tall dreams and goals you set for yourself such as: ending banditry, defeating corruption, bringing back our girls, belonging to everybody and belonging to nobody, selling off our presidential fleet and traveling with us etc.

“You may have followed my engagement with you through these messages over the years. You publicly referred to me during one of our visits as your number one public critic with a huge smile.

"I commend you for the fact that you have known that none of this was done out of malice but that we want the best for our country.

"May God guide you in retirement while we all embark on the challenge of reclaiming the country we knew before you came.

“I am hopeful that you (Presidentelect) will appreciate that the most urgent task facing our nation is not infrastructure or the usual cheap talk about dividends of democracy.

"These are important but first, keep us alive because only the living can enjoy infrastructure. For now, the most urgent mission is to start a psychological journey of making Nigerians feel whole again,

of creating a large tent of opportunity and hope for us all, of expanding the frontiers of our collective freedom, of cutting off the chains of ethnicity and religious bigotry, of helping us recover from the feeling of collective rape by those who imported the men of darkness that destroyed our country, of recovering our country and placing us on the path to our greatness, of exorcising the ghost of nepotism and religious bigotry.”

To the Supreme Court judges, Kukah stated: “We are saddened that your sacred temples have been invaded by the political class leaving the toxic fumes that now threaten your reputation as the last hope for all citizens.

"It is sad that your hard earned reputation is undergoing very severe stress and pressure from those who want justice on their own terms.

Nigerians are looking up to you to reclaim their trust in you as the interpreters of the spirit of our laws.

"The future of our country is in your hands. You have only your conscience and your God to answer to when you listen to the claims and counter claims of Nigerian lawyers as you decide the future

of our country. We pray that God gives you the wisdom to see what is right and the strength of character and conscience to stand by the truth.”

On the outcome of the general election which has continued to generate tension in the land, he stated: “We are all angry and we all want Justice. Yes, we have the right to be angry and we should be angry. But, angry about what, angry with whom and justice for whom? St. Thomas Aquinas, known as the angelic doctor of the Church, said: “He who is not angry when there is a just cause for anger is immoral because anger looks to the good of justice.

“If you can live with injustice without anger, you are immoral as well as unjust.” You cannot develop empathy for a victim unless faith enables you to love him/her as a child of God. If we allow injustice in our society while claiming to be believers, then as St. Paul said, we are empty gongs (1 Cor. 13:1).

“Anger is a legitimate emotion and it possesses some curative and even redemptive uses.

When motivated by a higher ideal, a higher sense of honour,

it transforms into righteous indignation and we are compelled to hold up a sign that says, No, Enough is enough. Anger against injustice and misuse of power is a just cause. That is why Jesus whipped the traders out of the temple (Mt.21:12). The challenge is how we process it and how we focus on its roots. We have to ensure that anger does not hold us, prisoners. In all, our journey is long and winding, exhausting but promising, sorrowful but expectant.

“Whatever may be the nature of the imagined human solution to the problems of violence in our society, the human heart must undergo spiritual circumcision (Rom. 2:28, Gal.5:6, Phil. 3:3). Rather than focus on the scapegoat or the lamb of sacrifice, all of us need to pause and ask if we were participants or guilty bystanders in the violence among us.

“Pope Francis has asked us in his Easter message to “go into our own wounds, to look at the tree of our humiliation, the cross of Jesus, to ensure that our hopes are not sealed in a drawer. In this way, our long-awaited peace can come.”

AuGF: Senate Indicts Budget Office Over N19bn Payment Approval to Four MDAs Sunday Aborisade in Abuja The Senate has indicted the Budget Office of the Federation for giving approval of N19 billion to four Ministries, Department, Agencies of the federal government without seeking the approval of the Minister of Finance.

The Senate had in October last year commenced an investigation into an alleged illegal payment of N19 billion to four unnamed federal agencies, by the Budget Office.

However, after the investigation by the Senate Public Accounts Committee, the Budget Office was unable to present evidence

of approval from the Ministry of Finance before paying the N19 billion from the Service Wide Vote to the four unnamed federal agencies.

The Budget Office of the Federation in its response to the query claimed that it had written the office of the Auditor General of the Federation requesting for details of the four MDAs without response.

But, the Committee Chaired

by Senator Mathew Urhoghide, noted that the Budget Office did not present the letter it claimed to have written to the office of the AuGF, requesting for the details.

Due to the inability of the

Budget Office to present approval for the payment of the N19 billion to the four MDAs, the Senate adopted the report of Senate Public Accounts Committee on the matter asking for a refund of the said amount to the Federation Account.

The query was contained in the 2016 report of the Auditor General for the Federation which was submitted to Senate for consideration.

Part of the AuGF read: "Four MDAs were paid the sum of N19bn from the Service Wide Vote without the approval of the Honorable Minister of Finance, some of the payments were made

on purported verbal directives from the Director General.

"This act is against the financial Regulation 301 and 302 which state that 'recurrent expenditure is paid from the CRF and no expenditure may be incurred except on the authority of a warrant issued by the Minister of Finance.

"In view of the above, it is difficult to accept the payment to the MDAs as proper and legitimate charges against the public funds.

"The Director General should provide evidence of approval from the Minister of Finance for these expenditures or recover the sum of N19bn from the benefiting MDAs"

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FASHOLA INSPECTS ONGOING WORK ON LAGOS/IBADAN EXPRESSWAY...

L- R: The Onibereko of Ibereko in Badagry, Oba Israel Adewale Okoya; Minister of Works and Housing, Mr. Babatunde Fashola; Special Adviser to the Governor of Lagos State on Works and Infrastructure, Mrs. Aramide Adeyoye; Engineer's Representative on the Project, Engr. Olukorede Kesha and Federal Controller of Works, Lagos State, Engr. Umar Bakare, during the Minister's inspection of ongoing expansion and rehabilitation of the Lagos - Badagry Expressway in Lagos State…Saturday

NUPRC Production Data Shows Nigeria’s Oil Output Declined in March, First in Six Months

Emmanuel Addeh in Abuja

Nigeria recorded its first crude oil production decline in six months in March this year, first time since output nearly fell to 900,000 barrels per day in September last year, a THISDAY review of new data from the Nigerian Upstream Petroleum

Regulatory Commission (NUPRC), has shown.

The country’s production declined to 1.26 million bpd during the month, indicating a 2.9 per cent decrease from the over 1.3 million bpd recorded in February.

The figure released by the nation’s upstream regulatory agency differed markedly

from an earlier Reuters survey which stressed that Nigeria was nearing its 1.6 million barrels per day target in the first quarter of 2023.

While the Organisation of Petroleum Exporting Countries (OPEC) production allocation to Nigeria remains at about 1.8 million bpd, the country’s output in February

was roughly 1.3 million bpd, still short of the cartel’s expectation.

But when condensates which are outside OPEC's monthly calculations are included, Nigeria's production during the month was 1.517 million bpd, down from 1.547 million bpd the previous month.

Nigeria in Dire Need of Strategic Policies, Re-orientation, Says RCCG To hold economic summit

The Redeemed Christian Church of God (RCCG), Christ The Lord Parish, Lekki, Lagos, has said the nation currently needs strategic policies and reorientation.

This was even as the church revealed that it would host an upcoming economic summit aimed at helping Nigerians with the right knowledge and resources to navigate the emerging economic terrain in light of the current challenges.

Briefing the media in Lagos on yesterday, the Pastor in charge of the Lagos Province 20 of the RCCG, Mr. Tunde Netufo, said whilst every new administration has its own policy thrust, the country was yet to get it right with the challenges of re-orientation.

"Every government has its own policy thrust, this government is a transition from an APC led government to another but the truth of the matter is that the personality is different and do not forget that the will power of an individual is also different and so I think there will be much needed changes. We as a nation

have a challenge and it is not with leadership but we are impatient.

“This is why we need strategic policies and reorientation. Our youths needs to be assured that the government is committed towards providing able conducive business environment as well as tackling insecurity amongst others," Netufo said.

He noted that the upcoming summit was geared towards helping and empowering entrepreneurs, businesses navigate the impact of high inflation, depreciating naira, high unemployment, underemployment and too much volatility in the system.

"This is the second edition of this economic summit and it is an annual interdenominational event and part of the Church’s Christian Social Responsibility initiatives to positively transform lives in its community.”

“The theme: “Invisible journey towards recovery,” is timely and apt. It promises to bring together accomplished individuals from critical sectors of the Nigerian

economy who have been carefully selected to discuss the Nigerian economy's outlook", he said.

The Summit is scheduled to begin this Saturday, April 15, 2023, at Admiralty Road, Lekki, Lagos.

Bismarck Rewane, renowned Economist and Chief Executive Officer of Financial Derivatives Company Ltd, would be the keynote speaker.

The summit would provide a once-in-alifetime opportunity for entrepreneurs, professionals, farmers, and owners of medium and small businesses to network with industry leaders and exchange ideas to help them navigate the current and emerging economic landscape.

Other industry experts expected to speak at the summit included Dr. Ademola Odeyemi, CEO of Optimus Bank; Mr. Mezuo Nwuneli, Managing Partner of Sahel Capital, and Mr. Weyinmi Egbe, Channel Director, Africa for Oracle, who would discuss opportunities for business growth in the current financial and

technology markets, as well as the Agriculture and Microbusiness sectors.

Mrs. Uwa Osa-Oboh, Head of Corporate Development at African Capital Alliance, and Mr Joe Mbulu, Executive Director of Union Bank of Nigeria Plc, would moderate the Summit, which would be available for both physical and virtual attendees, allowing entrepreneurs, professionals, and small business owners to participate regardless of their location. Participants residents in Lagos are, however, strongly advised to attend physically so that they can take advantage of the networking opportunities.

However, output declined to 1.26 million bpd in March and was 1.25 million bpd in January, according to the information released by the industry regulator.

Nigeria has been unable to meet its OPEC production in the last two years, blaming crude oil theft in the Niger Delta for the development. It has however in the last few months moved to stop the leakages with the deployment of federal as well as local security to curb the crime.

OPEC and its allies, known as OPEC+, agreed to cut production in late 2022 to support the market as the economic outlook worsened and prices weakened. Some members of the cartel, excluding Nigeria had also last week voluntarily decided to cut production to raise falling prices.

A Reuters survey had earlier in the month reported that Nigerian production posted OPEC's biggest increase in March bringing the country closer to a target to lift output to 1.6 million bpd this quarter.

It’s unclear what caused the decline in Nigeria’s overall oil production, but in the early morning of March 3, a pipeline explosion was recorded in a community in Rivers State with at least 12 persons believed to have

died from the incident.

According to reports, the pipeline fire specifically happened in the Rumuekpe community in the Emuoha Local Government Area of Rivers State after a crude oil pipeline in the community was tampered with by vandals.

Hope had risen for Nigeria after OPEC and its allies known as OPEC+ unexpectedly announced additional cuts to oil production of over 1.16 million bpd, raising oil prices from $74 per barrel to $85 per barrel.

With production benchmark of 1.69 million bpd in the 2023 budget and $75 price tag, Nigeria has been struggling to meet its OPEC output quota, thereby hobbling Nigeria's ability to execute a budget surplus in 2023.

Last week, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mr Mele Kyari, said that the company had spent huge sums to ensure that oil theft was reduced in the Niger Delta.

President Muhammadu Buhari had also given the security personnel operating in the region till May to eliminate the menace of oil theft and vandalism.

Buhari Expresses Sadness Over Death Of Sheikh Ibrahim's Oldest Son, Musa Alkasim Deji Elumoye in Abuja President Muhammadu Buhari has joined the family of Sheikh Ibrahim Ibn Saleh al-Hussaini, also known as Shaykh Sharif Saleh, the government and people of Borno State in mourning the demise of the Sheikh’s oldest son, Alhaji Musa Alkasim.

In a message to Sheikh

Ibrahim, the Chairman of the Fatwa Committee of the Nigeria Supreme Council of Islamic Affairs, President Buhari, in a release issued on Sunday by his spokesperson, Mallam Garba Shehu, said he is “deeply saddened to learn about the demise of your reliable and trustworthy son, Musa.

"With his passing away, a promising career in business

and academia has come to an end.”

He described the late 59-year-old Musa as a kind and enterprising young man who will sorely be missed.

According to the President: “Allah knows best. In this moment of grief, our thoughts and prayers are with you, your family and people of Borno State".

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EASTER CONCERT… Apostolic Faith Church 2023 Easter Concert held at the Church Camp , Anthony Village in Lagos...yesterday.

SUNDAY ADIGUN

World Bank Advocates Debt Restructuring for Poor Countries Emmanuel Addeh in Abuja The World Bank will push to resolve the mounting debt problems of poor countries and along with the International Monetary Fund (IMF) will present concrete proposals to address some of the biggest restructuring roadblocks at this week’s Spring Meetings, THISDAY has learnt.

The ideas will be introduced

at the Global Sovereign Debt Roundtable, a meeting led by the Bretton Woods institutions and Group of 20 chair India in Washington, D.C., President David Malpass said in a blog post on Sunday, reported by Bloomberg.

One proposal is to share the joint World Bank-IMF debt sustainability analysis for nations with all creditors involved in discussions at the same time,

with increased transparency and information sharing helping to calculate the size of debt relief needs, Malpass added.

China, the biggest sovereign creditor to developing nations, has raised questions about the institutions’ assumptions, slowing the process.

This will be good news to Nigeria , also a major debtor to the bank even as the country’s

debt portfolio continues to climb, following an underwhelming performance by the country’s oil and gas sector, the major foreign exchange earner for Nigeria.

Malpass added that restructuring also would be accelerated and strengthened by creating clear timelines for steps including the formation of creditor committees, the provision of financing assurances and the

signing of the actual restructuring agreements.

According to him, suspending debt service payments at the start of the process also would give incentives for reaching a deal and protect debt repayment ability.

On individual country cases, although Malpass did not mention Nigeria, he said the Zambia official creditor committee, led by China and France, plans to meet the

APGA's Leadership Tussle: S'Court Asks INEC to Act on Judgment Replacing Oye's Name with Njoku Alex Enumah in Abuja The Supreme Court of Nigeria has directed the Independent National Electoral Commission (INEC), to take "necessary action" on its recent ruling correcting an accidental slip in its own judgment delivered in a suit which bordered on the authentic leadership of the All Progressives Grand Alliance (APGA).

The apex court's directive was contained in its proof of service of the Certified True Copy (CTC) of its judgment in respect of the appeal marked SC/CV/687/2021, between Chief Jude Okeke versus APGA & others.

The proof of service dated April 5, 2023, was received same day at 3:54pm by the Litigation and Prosecution Department of the electoral umpire.

A copy of the document sighted

by THISDAY read, "I forward herewith for your information and necessary action, the order under the hand of the Honourable, the Chief Justice of Nigeria/Presiding Judge and the seal of the Court in respect of the above appeal.

"I also enclose herewith certified copy of the order and of the judgment of the Court."

The document was signed by Zainab Garba, Registrar, Litigation, Supreme Court of Nigeria.

The apex court had on March 24, 2023, upon an application by Chief Edozie Njoku, regularised and amended the judgment of Justice Mary Peter Odili (rtd), delivered on May 9, 2022.

Njoku's application was sequel to a letter of the Supreme Court of January 19, 2023, wherein the apex court addressed him as the National Chairman of APGA and

advised him to approach the Court by way of a motion to correct the slip.

Consequently, the five-member panel of justices led by Justice kudirat Kekere-ekun, had ordered the deletion of the name of Chief Victor Oye from the said judgment and that it be replaced with that of Chief Edozie Njoku.

Justice Garba Lawal, who delivered the ruling, noted that Njoku's application was meritorious and ought to be granted.

He consequently made an order deleting the name of Oye from the judgment and replacing same with that of Njoku.

Justice Lawal, while stating that the issue of chairmanship is not justiciable being an internal affairs of a political party, held that, "the application is granted as prayed and judgment shall be corrected as stated above".

Meanwhile, speaking with Judiciary Correspondents over the weekend in Abuja, Njoku, expressed optimism that INEC would heed to the Supreme Court's directive by effecting the necessary changes on its portals.

"I am confident and optimistic that INEC will obey the Supreme Court Judgment having been served with the CTC. Contrary to insinuations, Njoku said the party would not be giving the electoral body any ultimatum, adding that, "expectedly, we are looking at one or two weeks’ time frame for the order to be obeyed.

While noting that the apex court's ruling had put to rest the leadership crisis rocking the APGA, he expressed joy that he has been finally vindicated of the forgery allegations.

Njoku’s lawyer, Chike Onyemenam, had approached the court pursuant to Order 8 Rule 16 of the Supreme Court Rules and the inherent powers of the Court, to correct a typographical error and slip in the lead judgment of the Court in the appeal delivered

by Justice Mary Odili (rtd).

The applicant in the suit had urged the apex court to correct an accidental slip at page 13, lines 3 - 4 of its judgment where instead of stating the name of "Edozie Njoku" who was alleged to have been removed by the parties and whom the trial judge held to have been lawfully removed from his position as the validly elected National Chairman of APGA at the party convention held at Owerri in 2019, mistakenly inserted the name of Victor Oye whose name was never mentioned at the trial court.

Njoku in an affidavit he deposed stated that "on 14/10/2021, with Justice Mary Peter-Odili presiding, all the parties were heard in argument on the merit of two substantive appeals with my counsel, Chike Onyemenam SAN fully canvassing arguments in respect of my preliminary objection and cross appeal nos SC/CV/686/2021 and SC/CV/687/2021 respectively.

"This Honourable Court on the same 14/10/2021 presided over

by Justice Peter-Odili decided that Judgment would be delivered in respect of Appeal No. SC/ CV/687/2021 only and same would be binding on Appeal No SC/CV/686/2021; but in delivering the said Judgment, the appeal number was wrongly stated in the Lead Judgment to be Appeal No SC/CV/686/2021,

instead of SC/CV/687/2021; while the name of “Chief Victor Oye” was wrongly stated instead of my name, “Chief Edozie Njoku" at Page 13 as stated above.

"Thereafter, I applied by my letter to the Presiding Justice who read the above Lead Judgment for the above accidental slip or error to be corrected and His Lordship examined the Records and corrected the said error by removing the name of Chief Victor Oye and replacing same with my name, Chief Edoze Nioku at Page 13 of the Judgment.

"My said Application Letter and the corrected Lead Judgment are hereby exhibited and marked Exhibits “G" and “G"" respectively.

"Chief Victor Oye (the 2nd Respondent) whose name was erroneously inserted and who had nothing to do with the case at the Trial Court reacted by getting the Inspector-General of Police to arrest me and charge me to Court without any investigation before a Bwari High Court for “Forgery of a Supreme Court Judgment” and in spite of the Letter from the Presiding Justice who corrected the said error, Justice Peter-Odili, clearly exculpating me, the victim of the above accidental slip, I was remanded in prison custody by the court pending ruling on my bail application.

"The said Letter from the Presiding Justice is hereby exhibited and marked Exhibit “H”.

"Thereafter, the social media, at the behest of Chief Victor Oye and his sponsors, published that Chief Edozie Nyoku had been sent to prison for forgery of a Supreme Court Judgment in

collusion with Officers of the Supreme Court.

"The above false Publication and the Criminal Charge which I am now made to face simply because I applied for the correction of an accidental slip which was approved and the error or slip corrected by the Presiding Justice of the Supreme Court, are hereby respectively exhibited and marked Exhibit's J. "The above events which all occurred as a result of an accidental slip or error in the judgment of this court and my efforts to have same corrected has led to a great political upheaval within my political party, the All Progressives Grand Alliance (APGA) and resulted in a heavy dent on my character and reputation, Njoku stated.

week of April 16, and that he’s looking for a “good outcome."

On Ghana, he said the advance of technical meetings is a positive sign, and highlighted the need for faster progress on Ethiopia.

“With the debt crisis growing larger, we must approach the meetings in the week ahead with resolve and urgency. Now is the time for all parties to turn words into action," Malpass said.

More than half of the world’s low-income countries are at high risk of debt distress or already in it, and several have defaulted.

But despite the G-20 largest economies having agreed in 2020 to a plan called the Common Framework to smooth the process of restructuring loans that governments could no longer afford to service or repay, not a single nation has actually gotten relief under it so far.

Delays have partly stemmed from disagreements between the rich countries that have traditionally guided sovereign debt restructurings and China, which is now a major international creditor.

Beijing has indicated that it would be more equitable if loans made by the World Bank, where the US is the largest shareholder, are included in any restructuring.

The institutions have resisted the demand, along with many developed nations, most vocally the US. The institutions have resisted the demand, along with many developed nations, most vocally the US.

Buhari Mourns Wife Of Patriarch Of Dantata Family, Hajiya Rabi Says she's known for unparalleled compassion and philanthropy Deji Elumoye in Abuja President Muhammadu Buhari has expressed condolence over the demise of Hajiya Rabi Aminu Dantata, wife of businessman, philanthropist and patriarch of the large Dantata family in Kano, Alhaji Aminu Dantata, saying she will be remembered for her unparalleled compassion and philanthropy.

The President, according to a statement issued on Sunday

by his spokesperson, Mallam Garba Shehu, said the deceased had a passion for service to the people.

"She was a celebrated philanthropist who loved to share all that she had. Her simple and compassionate life was an inspiration to all those around her".

He prayed to Allah to accept her good deeds and give strength to Alhaji Aminu to bear the loss.

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Acting Group Politics Editor DEJI ELUMOYE

POLITICS

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

M O N D AY D I S C O U R S E

As Post-election Crisis Rocks Parties Following the conclusion of the 2023 polls, parties in the country are now battling with post election crisis, as political stakeholders strive to take control of the soul of the parties. Adedayo Akinwale writes.

Adamu

I

t is not unusual in the Nigeria political terrain for parties to be embroiled in post election crisis. More often than not, it may be as a result of unresolved differences in the build up to the poll or sometimes, the insistence of powerful stakeholders or power brokers within the party to take control of the party.

Already, the post election crisis that is ravaging almost all the major political parties have already claimed its first casualty with the suspension of the National Chairman of the main opposition party, the Peoples Democratic Party (PDP), Dr. Iyorchia Ayu. Ayu’s ouster was a prophecy foretold. The opposition party was fragmented and went into the 2023 elections with a divided house.

Prior to the general election, one of the conditions for peace as demanded by the Integrity Group, a forum of five governors, otherwise known as G-5, who were up in arms against the party, was for Ayu to step aside following the decision of the party to violate its own zoning formula.

The G-5 led by the Governor of Rivers State, Nyesime Wike, also had Seyi Makinde (Oyo), Samuel Ortom (Benue), Okezie Ikpeazu (Abia) and Ifeanyi Ugwuanyi of Enugu state as members.

Surprisingly, the party called the bluff of the governors, and failed to accede to the demands of the G-5. The refusal of the leadership of the party to shift ground was one of the major reasons for the abysmal performance of the PDP in the just concluded polls.

Nevertheless, Ayu’s nightmare started following his suspension by a section of his ward executives over alleged anti-party activities, but he dismissed his purported suspension as the handiwork of some desperate ignorant gamblers who lack basic understanding of the PDP Constitution.

While Ayu was grandstanding, his traducers showed that they means business as a Benue state High Court ordered him to stop parading himself as the National Chairman of the PDP pending determination of the suit before it.

It was based on this that the National Working Committee (NWC) of the party, confirmed its Deputy National Chairman (North), Ambassador Umar Illiya Damagum, as acting National Chairman after Ayu, stepped aside in deference to the court order.

Moreso, the tsunami of the post election crisis sweeping through the parties may have also found a comfortable abode in the Labour Party. This followed the purported suspension of the National Chairman of the party, Julius Abure, by his Ward Executive in Edo state, over allegations of forgery, perjury, mismanagement of funds, anti-party activities, among others But reprieve came the way of Abure when the Edo State chapter of the party rubbished his purported suspension and passed a vote of confidence on him.

Consequently, the Edo State executives of the party described the suspension as the handiwork of impostors being sponsored by

Ayu

other political parties to destabilise the success recorded by the party.

His reprieve was however shortlived as a Federal Capital Territory (FCT) High Court gave an order restraining him and the National Secretary, Farouk Ibrahim and two others from parading themselves as National Officers of the party.

Justice Hamza Muazu issued the restraining order last Wednesday while ruling on an ex-parte application argued by a Senior Advocate of Nigeria (SAN), on behalf of James Onoja.

Onoja had in the application informed the court how the restrained national officers allegedly forged several documents of the FCT High Court to carry out unlawful substitutions in the last general election.

Against this background, some members of the NWC of the party have announced replacement of Abure, with the National Vice Chairman (South), Lamidi Bashir Apapa, appointed in acting capacity.

But Abure has maintained that he remained the national chairman of the party, given Wednesday’s Benin High Court order restraining the party from taking further action against him and other national officers of the party.

Also, the ruling All Progressives Congress (APC) appeared not to be immuned from the post election crisis from state chapters of the party to the national level.

For instance, the unending war of attrition in the Enugu state chapter of APC has led to the expulsions and suspensions of prominent members of the party in the state.

The State secretary of the party, Robert Ngwu, at a press conference

Abure

in Enugu last Thursday announced the suspension of former Governor Sullivan Chime; former Speaker of the state House of Assembly, Hon Eugene Odoh; Director General of Voice of Nigeria, Osita Okechukwu; former commissioner for Tourism, Ozor Joe Mmamel; Special Assistant to Foreign Affairs Minister, Flavour Eze; and former House of Representatives candidate in 2019 poll, Maduka Arum.

The party had earlier expelled the former chairman of APC in the state, Dr. Ben Nwoye and a former deputy state chairman of the party, Mr. AC Udeh. Ngwu at the end of the party’s SEC meeting, presented the report of the party’s Disciplinary and Fact Finding Committee, recommendations which he said were ratified by the State Executive Council (SEC) during her meeting.

While the party accused Nnamani and Chime of openly endorsing and campaigning for the governorship candidate of the PDP, Mr. Peter Mbah and the Minister of Foreign Affairs, Geoffrey Onyeama campaigned for the presidential candidate of Labour Party, Mr. Peter Obi, and worked for the Governorship candidate of PDP, Mbah, allegedly using federal government palliatives like cooking stove, wrappers, rice and garri.

At the national level, it is no longer at ease as the crisis rocking the APC took a dramatic turn last Monday, when APC National Vice Chairman, North-West, Dr. Salihu Lukman, accused the National Chairman of the party, Senator Abdulahi Adamu and the National Secretary, Senator Iyiola Omisore, of turning other members of the NWC into rubber stamp.

Lukman in a statement decried that the National Advisory Council (NAC) of the party had not been inaugurated more than a year after the Adamu-led NWC assumed office.

He pointed out that the constitution of the party under Article 13.2B.(i) stipulates that, “the National Secretary shall, not later than one month after an elective convention, convene the meeting of the National Advisory

To halt the party’s further slide into crisis, the APC National Working Committee (NWC) has constituted a five-man investigative and reconciliation committee to curtail the brewing crisis in the party. The decision to set up the committee was taken at the last NWC meeting held at the party secretariat. Members of the committee are: Deputy National Chairman (North), Abubakar Kyari, who will serve as the head of the Committee; Deputy National Chairman (South), Emma Eneukwu; National Vice Chairman, South East, Ijeomah Arodiogbu and the National Publicity Secretary, Felix Morka. It was gathered that the five-man committee will soon meet with Adamu and Omisore.

Council”; but added that one year after assuming office, Omisore has never proposed any action towards the inauguration of NAC. The party chieftain stressed that there was only one meeting of the party’s National Executive Committee (NEC) meeting held on April 8, 2022, noting that there was never any meeting of the National Caucus.

According to him, instead, meetings of the NWC hold without necessarily ensuring that existing constitutional provisions are respected.

In this circumstance, critical functions of the NEC, which include approving the national budget of the party as provided in Article 13.3A(xiv) of the party’s Constitution is simply ignored.

Lukman further stressed that Article 13.3A(xv) of the party’s constitution directed the NWC to give quarterly financial reports to NEC; while Article 13.4(ii) directs the NWC to present reports and Article 13.4(iv) compels the NWC to present financial reports on income and expenditure of the party, but added that all these have been ignored.

The activist cum politician said it was public knowledge that the party earned billions of Naira in revenue from sales of forms to aspiring contestants for the 2023 general election, but added that the NWC was yet to declare to any organ of the party how much it inherited from Mai Mala-led Caretaker Committee and how much was received as donations and contributions for the 2023 polls.

Lukman emphasised that large-scale expenditures, which include the renovation of the National Secretariat complex are being undertaken without any organ of the party exercising the powers of due diligence.

He said: “As a member of the NWC, I can say without fear of contradiction, all decisions bordering on managing the finances of the party are being taken by the National Chairman, Senator Abdullahi Adamu and the National Secretary, Senator Iyiola Omisore.

Most members of NWC are reduced to onlookers or at best rubber stamp. All appeals for accountability have fallen on deaf ears.

Decision of the NWC to convene NEC meeting in August last year was simply sabotaged.”

To this end, Lukman called on the presidentelect, Asiwaju Bola Tinubu, to immediately intervene to restore constitutional order in the management of the party affairs. He said it would be a mockery to continue to bear the name progressive and continue to run affairs of the party based on the personal discretion of Adamu and Omisore.

However, to halt the party’s further slide into crisis, the APC National Working Committee (NWC) has constituted a five-man investigative and reconciliation committee to curtail the brewing crisis in the party.The decision to set up the committee was taken at the last NWC meeting held at the party secretariat.

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

T H I S D AY • MONDAY, APRIL 10, 2023

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TRIBUTE

Bola Ajibola (1934-2023): End of An Era of Foremost Jurist, Legal Icon

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t was the end of an era for a legal luminary, a foremost jurist of International repute, former Attorney General and Minister of Justice of Nigeria, Prince Bola Adesunbo Ajibola, who has answered the last call of nature which every mortal must do.

Ajibola, a foremost Islamic religion personality known worldwide, had planned to host Islamic faithful to a Ramadan lecture, yesterday, April 9, 2023, at the Islamic Movement for Africa (IMA), Abeokuta, which he founded in 1996.

But as fate would have it, rather than being able to host the Islamic congregation, the Senior Advocate of Nigeria was buried on the same day, within the premises of the same religious centre.

Born on March 22, 1934 to the Owu Royal Family, Ajibola attended Owu Baptist Day School, Abeokuta for Primary School Education, 1942 – 49 and Baptist Boys High School, Abeokuta (BBHS) Abeokuta with the likes of the former Nigeria's President, Chief Olusegun Obasanjo, for Secondary Education, 1950 – 55.

Reminiscing in an interview with a national newspaper, Ajibola, who disclosed that he was rascally in school, said a challenge thrown by his mother, made him to get more serious while in BBHS. He said, "One day, my mother confronted me and told me point blank that whatever I wanted to do with myself, I can go ahead, that she had been blessed with a daughter who was doing better than me in school. The words struck me as a big challenge. If she had taken a cane to flog me, it wouldn’t have had such an impact on me. But for her to tell me that a female would take over my position as her fondest child was a big challenge.

"In school, I quickly called my classmates and, without telling them the details, had a meeting with them on how to start beating

Ajibola the girls academically and excelling generally in class. It was as if my classmates were waiting for just the meeting. How they got a quotation for us to memorise as a guide still beats me till today.

"The quote, by Henry Wadsworth Longfellow, goes thus: “The height by great men reached and kept were not attained by sudden flight, but they, while their companions slept, were toiling upward in the night.”

"The quote stuck in our brain so much that, even now, I can still quote it. We memorised it and

were never sleeping again all through the night. Thereafter, we were always facing our studies and doing our best to get there.

And we made it."

The late Ajibola, obtained his first degree in Law from Holborn College of Law, University of London, 1959-62. He was called to the Bar as Honourable Barrister-at-Law of Lincoln’s Inn also in 1962.

He has to his credit, several Awards/ Honours, among which are: Knight of the Order of the British Empire (KBE) – from Queen Elizabeth II of Great Britain and Northern Ireland, May 1989.

Honorary Doctor of Law (LL.D.) of the University of Buckingham,1996; World Jurist Award, 1987.

Senior Advocate of Nigeria (SAN), 1986.

Life Member, Body of Benchers, Nigeria, 1991; Fellow of the Nigerian Institute of Advanced Legal Studies. Ogun State of Nigeria Outstanding Citizen Merit Award, 1986.

Life Member, Nigerian Institute of International Affairs.

Honorary Fellow of the Society for Advanced Legal Studies, London.

Commander of the Federal Republic of Nigeria (CFR).

Out of his visionary initiative, he founded African Concern in 1994, the Islamic Mission for Africa (IMA) in 1996, and Proprietor/ Founder, Crescent University, Abeokuta, Nigeria in 2005.

In his professional career, he has provided outstanding Legal Consultancy Services.

These include: Aron Cosmetics Limited, Nigeria, 1994. Masms Solicitors & Co., London 1995.

EXXON Houston Texas, USA, 1997; Arthur Anderson & Co., London and Lagos. 1998.

Justice Ajibola attended numerous International Conferences and participated in regional cooperative efforts. He has several publications in various journals, and is a well recognised International Jurist. Also in his honour was published several books: (i) Contemporary Issues in Nigerian Law, Essays in Honour of Judge Bola Ajibola; (ii) Justinian of a Great Era (The Road to The Hague, by Lai Joseph); (iii) Around the World with Bola Ajibola.

He was President of the Nigerian Bar Association, 1984 – 85; Attorney-General of the Federation and Minister of Justice, 1985 – 91.

He has a lot of Awards/Honours locally and internationally and is a member of various International Bodies.

He has held numerous international positions and led several Nigerian Delegations to sign many treaties, conventions and protocols; and has been charged with many international arbitration assignments. He is best known as: Judge of the International Court of Justice, The Hague, Netherlands, 1991 – 94. Judge of the Constitutional Court of the Federation of Bosnia and Herzegovina, 1994 – 2001.

President and Judge of the World Bank Administrative Tribunal (Washington D.C and London) 1994-2005. President of World Association of Judges of the World Jurist Association.

Arbitrator/Commissioner, Eritrea/Ethiopia Boundary Commission 1999 to date. Chairman of the Nigeria/Cameroon Mixed Commission from 2002 to date. Only recently, in his continuing “harvest of honours”, he was conferred with the Honorary Degree of Doctor of Literature (D. Litt.), Usman Danfodiyo University, Sokoto, December 13, 2003; and the Honorary Doctor of Agriculture (D. Agric), University of Agriculture, Abeokuta, January 28, 2004.

PERSPECTIVE

APC in Katsina: Enduring Assault, Treachery Bishir Gambo

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obody is in dispute that the general atmosphere that existed hitherto the APC gubernatorial primaries and afterward in Katsina state was full of challenges to the ruling APC. The build-up was characterized by the unimaginable challenges of abnormal mutiny from some of the defeated gubernatorial candidates, propaganda of regionalism in the political space, general insecurity, the untimely introduction of the cashless policy, and internal treachery. Some pundits during election debates had conceded Katsina to the opposition party largely because of the palpable turbulence in the political space which does not seem to favor the ruling party.

While the APC-led administration of the stateoperated an open-door policy and embraced discerning voices, for the sole purpose of moving the state forward, the unexpected public backlash of the party primaries had to be contained in all the spheres and within the shortest time before the general elections.

The aftermath of the gubernatorial primaries resulted in a cross-over to and defection by the runners-up and the third-place candidate to the opposition party, a situation that, unnecessarily wasted precious campaign time but exposed for the first time the most fascistic individuals in the history of Katsina State. It further unveiled the nakedness and unpopularity of the big-mouth cum fat-pocket politicians. Again the doctrine of morality and the belief that power comes from the Lord was questioned by the disloyal politicians who had earlier believed that the power to the Government House rested with their big mouths and fat pockets.

This scenario that had the major beneficiaries of the government patronage, in offices and contracts, being defeated at the party primaries and now defecting to opposition parties, demanded experienced hands, good leadership, and a credible candidate to tackle the strongest opposition ever faced by any other ruling party in the state.

The defective candidates violated presumptive

Gov Masari contracts and confidence that ended up producing moral and psychological conflict between individuals and within the parties.

Thus, it was never easy to fight people that had been part of the government's political and administrative process for over seven years. The APC-led administration and the gubernatorial candidate had to contend with and overcome these people whose lust for power was combined with an intensity of intolerance and deceit to attain their need and the commonwealth of Katsina people. It was a serious challenge.

To worsen matters and create the tasks of winning the election more tedious, issues of regionalism were propagated across the space. The aim was to discourage voters from electing the APC presidential candidate. This self-serving style of the opposition

party was infused in all the Northern states though hollow but dangerous to the ruling party when it comes to rural voters with limited understanding of the new order of nationalism, excellence, and futuristic governance.

Their final objective towards which all their deceit was directed was to capture political power so that, using the power of the state and the power of the commonwealth simultaneously, they may keep the common man in unending subjection.

Then came suddenly a politically motivated and ill-timed cashless policy of the Federal Government. The policy had made thousands of electorates to reconsider voting for the ruling party because of the hardship of even getting the money for groceries and the crash of small entrepreneurs in the major streets of the urban local governments. The situation was more pronounced in the capital city which has a high-level enlightened voter population. The opposition party took advantage of the situation and vigorously campaigned against the APC candidates across the realm.

The organized crime of extortion, kidnapping, robbery, and murder committed by outlaws or popularly called bandits was an issue of great concern to Katsina people and was made an issue in the campaigns against the ruling APC in the State. The aim was to dissuade people from voting for the APC and its candidates. The challenge to these factual occurrences and the persuasion of voters to vote for the ruling party, yet, posed another compounding challenge to the leadership.

The overwhelming challenges of abnormal mutiny from defeated gubernatorial candidates, propaganda of regionalism in the political space, general insecurity, the untimely introduction of the cashless policy, and internal treachery were overcome by the APC in the State. The general outcome of conquering the opposition party and squarely exposing their inherent lies, deception and

ill-will was championed by the Leadership in the state, the governor-elect and his deputy, a focused campaign council, and the many candidates of the party.

Despite the regional propaganda against the APC, the presidential elections became a very tight race between the major parties. President-elect Bola Ahmed Tinubu scored 482,283 against the regionally laced 489,045 votes of Atiku Abubakar.

The APC further won the three senatorial seats and nine out of the 15 House of Representatives seats. This major contribution to the national leadership is unmatched in the whole of Northwestern Nigeria.

The successes recorded by the APC leadership in the State were a confirmation that Katsina voters overlooked regional cards played around by the opposition party in the State because of their need to align with the national rhythm and that their leadership has the respect, command, and benevolence so required of a democratic leader.

Indisputably, Katsina State leadership was among the first proponents of the power shift to Southern Nigeria to consolidate the federation. In addition, the APC leadership in the state aligned and voted for Bola Ahmed Tinubu during the presidential primaries to further concretize their support for the southern candidature and a person they so believed would stabilize the country and move it forward. Thus, on issues of patronage, the president-elect would undoubtedly see the case of Katsina State, as a straightforward case as there exists potential common ground of agreement. It is not a proposition of any sentiment, radicalism, influence, or other cleavages in seeking settlement or patronage in the power deal. Katsina State APC has brought to the basket the fundamental requirements of recognition -the votes, the Senators and Members of the House of Representatives, and indeed the governorship of the State. The path to success had been distressing, coordinatingly herculean, and resourcefully and logistically taxing.

The people of Katsina State look forward to a package of patronage to the leadership of Katsina State, beneficial to Katsina People.

•Gambo, PhD, writes from Katsina municipal

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FEATURES

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

Whistleblower: Studied Silence over Alleged Killings

by Anambra Police Officers Despite leaks by a whistleblower on alleged human rights abuses by senior police officers in Anambra State, not much has been heard of investigation of the allegations by the authorities as the matter seems to have been swept under the carpet, a move many described as police notoriety, reports David-Chyddy Eleke

CSP Patrick Agbazue, Commander Rapid Response Squad (RRS), Anambra State Police Command, Awkuzu, Oyi Local Government Area

SP Nkeiru Nwode, Zonal Public Relations Officer, Zone 13, Ukpo, Dunukofia, Anambra State

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wo months after a popular blogger; Gistlover revealed shoddy practices of some senior police officers serving in Anambra State Police Command, which also led to the arrest of a serving corps member, Daniel Nnamdi Emeh, there has been silence by the authorities, after the initial arrest and release of the police officers.

Gistlover, an anonymous blogger had in early February, raised alarm about the activities of some police officers in Anambra. The blogger named the police officers involved in the practices to include; CSP Patrick Agbazue, who is the commander of Rapid Response Squad (RRS) in Awkuzu, Anambra State; SP Nkeiru Nwode, the Zonal Public Relations Officer of Zone 13, Ukpo; and one Inspector Harrison Akama, who is attached to the RRS, a police department, which now occupies the same complex, previously used by the notorious and outlawed Special Anti-Robbery Squad (SARS) in Awkuzu.

Arrest of Whistleblower The Anambra State Police Command had in the wake of the revelation declared the serving corps member, Mr Nnamdi Emeh wanted, over allegations of impersonation, abscondment, possession of firearm and blackmail.

Emeh, who was working under the state police command, and attached with the RRS in Awkuzu, was also working as a tracker for the police outfit. Emeh, an IT expert was believed to have details of rights abuses and unethical practices of the top officers, and was believed to have leaked their secret information to the anonymous blogger, Gistlover. He was later tracked down, after he was declared wanted, and arrested in Benin Republic.

Since after his arrest, he has been taken into custody, but surprisingly, the officers to whom Emeh revealed their alleged unethical practices were left off the hook, just one day after they were invited to Force Headquarters, Abuja.

This has left many with the impression that the police force is not ready to serve justice.

This is coming over two years after a nationwide protest against the activities of policemen, in which operatives of the SARS were widely condemned for their inhuman practices. Though the protest was a nationwide issue, Anambra was singled out for the highhandedness of its operatives, and CSP James Nwafor who was onetime commander of the outfit, were heaped with allegations of killings.

The protest led to the disbandment of SARS,

kept in the cell, but many said even supposedly innocent suspects were sometimes kept there, tortured until they confessed to crimes they knew nothing about, and accepted to do the bidding rogue police operatives, by paying their way out.

The chief operator, Nwafor was then said to be so deadly and temperamental that if anyone had the ill luck of making him draw open a drawer in his office where he always kept a silver coloured pistol, he must shoot, even if it meant on the victim’s feet, but unlucky ones have had to be sent to their early graves. He was quoted by many who passed through that office as boasting that nothing will happen if he killed a suspect.

With the disbandment SARS, Awkuzu, led

by Nwafor, and the constitution the RRS, led

by CSP Patrick Agbazue, a young, boyish, handsome and likeable officer of the police force, and the allegations of atrocities against him, one would be tempted to wonder what is different between Agbazue's RRS and Nwafor's SARS.

Inspector Harrison Akama, allegedly married to SP Nwode and in Anambra, the Awkuzu SARS office, which was said to be notorious for killings is now rechristened as an Annex of the police, and handed over to RRS for operation.

Awkuzu: SARS/RRS, What Has changed?

Sources who knew the Awkuzu SARS Office before the disbandment said there was a cell named 'hell' in the facility. It had a bold inscription 'Welcome to hell'.

Only supposedly hardened criminals were

We are shocked that the crude method of policing. This was what which led to the #EndSARS protest, and it is still with us. If this continues, what we will see next will make #EndSARS look like a joke. We are still aware of the detention of a whistleblower who gave information about the activities of some top police officers in Anambra

Allegations against Agbazue and Co From allegations by Gistlover and testimonies from victims and their relatives, the trio of Agbazue, Nwode and Akama have been serially involved in illegal arrests, torture, extortion from arrested suspects, murder and even organ harvests.

There are detailed information about the operations of the trio, which includes the allegations of dispossession of suspects of monies in their accounts upon arrest, their cars and other belongings, which the police officers allegedly keep for themselves.

They were also accused of selling the body parts of most of their victims to enrich themselves.

Many who know of the operations of the RRS in Awkuzu said SARS was a more friendly organisation, compared to RRS, just as many insisted Agbazue was a more deadly officer than Nwafor.

SP Nwode and Allegations of Marrying a Non-commissioned Policeman For Nwode particularly, she was also said to have secretly married Akama, a lower ranked police officer, an act said to be against police ethics. This is outside an existing marriage, which she is into, which yielded a child.

Continued on page 21

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FEATURES

Whistleblower: Studied Silence over Alleged Killings by Anambra Police Officers

Mr Daniel Nnamdi Emeh, a Corps Member, and IT expert, working with Anambra State Police command, who was alleged to have revealed unethical practices by senior police officers

IG Usman Baba

Police IG and Initial Investigation Wadding into the allegations, the Inspector General of Police, Mr Usman Alkali Baba in a press statement by the Force Public Relations Officer, CSP Olumuyiwa Adejobi, assured that: “In light of the serious allegations leveled against the officers – CSP Patrick Agbazue, officer-in-charge of the Rapid Response Squad (RRS), Anambra State Command; SP Nwode Nkeiruka, the Police Public Relations Officer of the Zone 13 Headquarters, Ukpo-Dunukofia, and Inspector Harrison Akama attached to the RRS, they reported at the Force Headquarters, Louis Edet House, Abuja today Friday 17th February, 2023, on the directives of the IGP for commencement of investigations to ascertain the veracity of the allegations for further necessary action, while the panel has been given a period of two weeks to come up with a report of investigations."

Anambra Governor's Intervention The Anambra State Governor, Prof Chukwuma Soludo, being worried about the weight of crimes being allegedly committed by the officers in his state also ordered the Attorney General of the State, Mrs Sylvia Chika Ifemeje, to call for a review of all case files with allegations of human rights abuses by the officers.

In a statement, Christian Aburime, Soludo’s press secretary said, “Preliminary inquiry has revealed that the Inspector General of Police has set up a Special Investigation Panel to investigate the allegations at the end of which a report would be issued.

"In the meantime, I have requested the Attorney General of Anambra State to immediately call for, and review all the files of cases on allegation of commission of offences created by the laws of our State, being handled by the said RRS. "This will enable the Attorney General to give such directions or take such necessary legal actions in line with section 211 of the Constitution and sections 148, 149 and 150 of the Administration of Criminal Justice Law of Anambra State 2022.”

Fears for Arrested Corper Meanwhile, there are fears that the Police may not be comfortable to have Emeh arraigned in court. This is because it is feared that as an IT expert that worked closely with many top officers and had access to information, he may have several other pieces of information he is yet to declare about some top officers.

Recently, Sahara Reporters, an online news portal declared that there is a grand plot at the Anambra State command to kill Emeh, and to make excuses that he was trying to escape from cell.

The medium quoted top sources who said that some police officers planned to gun down the whistleblower instead of arraigning him in court because of the “volume of information” at his disposal which could implicate several police personnel.

The source was quoted as saying: “The

volume of information available to the man is mind boggling. We are afraid that if he is arraigned in court, he may bring down the entire police force. He has the names of everybody involved, the dates and time of every incident. The police cannot afford to arraign him in court.”

CSO's Demand A coalition of civil society organisations had three weeks ago demanded the release of Emeh. The organisations had in a joint statement called on the police authorities to immediately drop the trumped-up charges of "unlawful possession of firearm, money laundering, defamation of character, fraud, and impersonation" leveled against the corps member.

The organisations included African Centre for Media & Information Literacy (AFRICMIL), HEDA Resource Centre, Accountability Lab, Progressive Impact Organisation for Community Development (PRIMORG), Social Development Integrated Centre (Social Action), Centre for Journalism Innovation and Development (CJID) and Sterling Centre for Law & Development Access to Justice.

Others are the Southern Free Press, Inc Centre for Human Rights Advocacy & Wholesome Society (CEHRAWS), Rule of Law and Accountability Advocacy Centre RULAAC, Human Rights Social Development and Environmental Foundation (HURSDEF), Confluence of Rights, Workers & Youth Solidarity Network, Rivers Civil Society Organisations. Justice for Peace and Development Initiative Avocats Sans Frontières and Nnaemeka Ejiofor & Associates.

The coordinator of the Anambra State Police Partnership Forum, Mr Okechukwu Nwanguma while addressing the group said: "We are shocked that the crude method of policing. This was what which led to the #EndSARS protest, and it is still with us. If this continues, what we will see next will make #EndSARS

look like a joke.

"We are still aware of the detention of a whistleblower who gave information about the activities of some top police officers in Anambra. As we speak, the whistleblower is in detention, but the officers were not even suspended for investigation to go on, untampered with."

A human rights group, Civil Society Coalition Against Impunity, on a recent Sunday, however alerted that close to two months after the panel was constituted, the police had Sunday morning handed over the whistleblower, Emeh to a team of four police officers, led by one SP Ayo, who is the Officer in charge of Homicide, State CID, Awka, and that he was being moved from Abuja to Awka.

A short text sent to this reporter read: "They are currently traveling by road this morning Sunday, 2 April 2023, on their way to Anambra State. There are serious concerns that Nnamdi Emeh may not arrive Awka alive, and may never have his day in court.

"He has been detained incommunicado in the Police headquarters Abuja since Friday, March 3, 2023, after he was arrested in Benin Republic. He is the only child of his aged parents. Please raise your voice to prevent the unlawful execution of Nnamdi Emeh," the group called.

Continuous Disappearance in Police Detention In the midst of the allegations against the police, some indigenes of the state have also lamented the continuous disappearance of their children.

During a stakeholders meeting of media and Civil Society Groups, under the auspices of Anambra State Police Stakeholders Partnership Forum in Awka, two parents lamented that one year after their children were arrested by police operatives, they are yet to be found.

The men, Mr Titus Orji and Gilbert Obinwa lamented that police operatives were also reluctant to help them trace the whereabouts of their children.

Narrating his story, Orji said his son, Jeremiah Chibuzor Orji, a student of Federal Polytechnic, Oko left his student's lodge at Oko Community after he received a call at about 9pm, but never returned. “This happened on 19 March 2022.

He was my only son, and we have looked for him everywhere. Some people in his area told us that some security men carrying guns were

The volume of information available to the man is mind boggling. We are afraid that if he is arraigned in court, he may bring down the entire police force. He has the names of everybody involved, the dates and time of every incident. The police cannot afford to arraign him in court

seen that night, close to his lodge, forcing him into a white bus."

Also, Mr Gilbert Obinwa in his own testimony said: "I was at home on April 24, 2022, when some policemen invaded my compound in Ekwulobia and arrested my son. As they were leaving, a boy who was working with my son came in with the Okada man who brought him, and they arrested both of them and left.

"They didn't tell me what their offence was, or where they were taking them. I have been to every known police station since then looking for them, to no avail. We engaged a tracker, who showed that the boys are being kept in a certain location in Nteje community, and we involved the police, but they told us that area is dangerous, and that they won't go."

Studied Silence over Panel Two months after, the investigation, which was supposed to last for just two weeks, seems not to have been concluded.

Investigations by THISDAY however showed that the panel was moved from Abuja to Anambra State, which is the jurisdiction of the crime. But surprisingly, it was learnt that the sittings are rather held in secret, just as attempt to find out where the sitting was holding failed.

The state police command’s spokesperson, DSP Tochukwu Ikenga could not tell THISDAY where the sitting is held, or what has so far be done by the panel. He rather referred this reporter to the Force Public Relations officer, CSP Olumuyiwa Adejobi, saying that the matter was no longer in the jurisdiction of the command, but now a Force Headquarters matter.

Force Police Public Relations Officer, CSP Olumuyiwa Adejobi reacting to whether the panel had submitted its report said: "I am aware that the team has carried an investigation into the allegations, and a report has been sent to the IGP recently. I will get a copy of the report and act."

Also, on whether Emeh was being ferried by road to Anambra, Adejobi said: "I will need to find out about that."

On the other hand, the Anambra State government was unable to explain what came out of the review of the case files of some complainants that had to do with the matters, to which the senior police officers were being accused, as directed by the state governor, Prof Chukwuma Soludo.

When THISDAY visited the office of the commissioner for Justice and Attorney General of the state, Mrs Sylvia Chika Ifemeje, she was not disposed to entertain questions. Calls to her were also avoided.

When THISDAY posed the question of how far her ministry had gone in reviewing matters relating to complaints against the senior police officers, she quickly hung up, and never took further calls.

However, a source within her office said: "That move to review the case files was just a face saving move by the governor. Since after the announcement, I'm not aware of any review of case files by the commissioner."

T H I S D AY • MONDAY, APRIL 10, 2023

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This Week In Tech 08097710984

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Osemeke: How Cloud Computing Will Promote E - pay m ent Syste m, Cash l ess E co no m y Banks in Nigeria are struggling to overcome their operational challenges in e-payment services, especially in this era of the cashless economy promoted by the Central Bank of Nigeria. However, in this interview, the Managing Director/Chief Executive Officer of Unitellas International Limited, Mr. Smith Osemeke, said that there are information technology providers in the country that can rescue banks by moving their operations to a cloud computing edge. Dike Onwuamaeze brings you the excerpts: How can Nigerian banks improve service delivery to their customers in the face of the Central Bank of Nigeria’s push for a ‘cashless economy’? he banking industry plays a crucial role in economic growth and development worldwide.

In Nigeria, the banking industry has undergone several reforms over the years, resulting in significant changes in the way they operate. Despite these changes, the industry still faces several operational challenges that impact the efficiency of its service delivery to customers.

One of the main issues affecting banking operations in Nigeria is their limited access to reliable and efficient IT infrastructure. So, with the rise of digital technologies and the increasing demand from customers for fast, reliable, and secure banking services, banks in Nigeria need to find innovative ways to improve their operations. And one of the ways to achieve this is by adopting cloud computing technology. Cloud computing provides access to scalable, flexible, and cost-effective computing resources that can be used to optimise banking operations.

T

What role can IT service providers, like your organisation, play in enabling financial institutions to improve their services?

We will enable them to explore the benefits of moving banking and financial service operations to the edge by adopting Unitellas’ edge cloud services. We are confident that this technology can help banks in Nigeria to overcome their operational challenges and provide better services to their customers.

What are the operational challenges facing banks in Nigeria?

Banks in Nigeria are facing several operational challenges that impact their ability to deliver efficient and reliable services to customers. Some of these challenges include poor IT infrastructure. This stemmed from the fact that the IT infrastructure in

Osemeke

Nigeria is not reliable, and banks are often faced with issues such as power outages, slow internet connectivity, and hardware failure.

These make it difficult for them to provide seamless and uninterrupted services to customers. In addition, building and maintaining IT infrastructure is expensive, and most banks in Nigeria do not have the resources to invest in state-of-the-art IT infrastructure. Other challenges facing the banking sub-sector of the country’s financial system also

“The availability of realtime data processing and analysis will enable banks to provide personalised services based on individual customers’ preferences and behaviours. Also, by moving their operations to the edge, banks can reduce the cost of transporting data to central data centres.”

include compliance and regulatory issues, which is critical for the smooth operation of banks. But it also affects their ability to innovate and provide new services.

How real is the cyber security threat in the country’s banking industry, and what are the solutions?

Cybersecurity threats are on the rise, and banks in Nigeria are not immune to these threats. Cyber threats can result in financial losses and damage the reputation of any bank. But it is also an area banks will benefit from cloud computing services, which would offer several benefits, including scalability. Cloud computing provides advanced security features that protect banks from cybersecurity threats. For use, the Unitellas edge cloud services provide advanced security features that protect against cyber threats.

Data is encrypted both in transit and at rest, which ensures that customer data is secure.

It provides banks with access to scalable computing resources that can be expanded or reduced based on their needs. This helps banks to optimise their capacity and reduce costs. It is also cost-effective because cloud computing eliminates the need for banks to invest in expensive IT infrastructure. Cloud services are available on a pay-as-you-go basis, which means banks only pay for the resources they use. In addition to these, cloud computing provides banks with the flexibility to deploy services and applications quickly and efficiently. This is particularly important for banks that need to respond quickly to changes in the market or customer needs.

There are so many new developments in the IT industry, like edge computing. What is it all about? Edge computing is a variant of cloud computing that enables data processing and analysis to occur close to the devices that generate the data. This approach reduces the need for data to travel long distances to central data centres, improving response times and reducing latency.

Our cloud services provide banks in Nigeria with the ability to move their operations to the edge, where data can be processed and analysed in real time. Moving banking operations to the edge reduces latency and improves response times. This means that banks can provide their customers with faster and more efficient services.

What are its benefits to the customer?

The faster and more efficient services provided by banks through edge cloud services will improve their customers’ experience. The availability of real-time data processing and analysis will enable banks to provide personalised services based on individual customers’ preferences and behaviours. Also, by moving their operations to the edge, banks can reduce the cost of transporting data to central data centres. This reduces the need for expensive IT infrastructure and can save costs.

MONDAY APRIL 10, 2023 • T H I S D AY

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Monday April 10, 2023 Vol 27. No 10224

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opinion@thisdaylive.com

www.thisdaylive.com

TAKING EASE OF DOING BUSINESS REFORMS TO ALL There is a lot more to be done to improve the business environment in spite of the push by PEBEC and subnationals, contends JUMOKE ODUWOLE

See page 25

ATIKU, OBI AND PHANTOM VICTORY REMI ADELOWO argues that Bola Tinubu clearly won the 2023 presidential contest

See page 25

EDITORIAL

A CALL FOR GOOD GOVERNANCE

26

1

Atiku Abubakar, through his doggedness, helped in deepening democracy in Nigeria, reckons TUNDE OLUSUNLE

REVISITING ATIKU’S LEGACIES IN CONSTITUTIONAL DEMOCRACY Ever since I trained my mind to follow the unravelling of Nigeria’s sociopolitics through martial and *civilian* governance, I’ve found no deputy who has been as harried and harangued as Atiku Abubakar.

I have highlighted the word “civilian” in the preceding sentence because much of what we have witnessed particularly in Nigeria’s last two general elections have merely parodied genuine expression of popular franchise and real democracy. Scholars in political science, VRFLRORJ\ KLVWRU\ OLWHUDWXUH SXEOLF DͿDLUV have work to do in interrogating with every rigour, whether the elections of 2019 and 2023, can pass as being representative of the expression of free will and popular democracy.

Discerning and objective Nigerians are not alone in the caustic denunciation of the wasteful thievery of our resources by roguish electoral umpire, the Independent National Electoral Commission, (INEC), in the name of elections. The grand charade and phenomenal putrefaction labelled general elections in the 2019 and 2023 cycles, are the lowest points of our return to democracy. International observers of various hues have also been unsparing and consistent in tearing down the specie of electoral robberies they witnessed in Nigeria in borrowed robes of elections.

Back to the matter of the mistreatment of Nigerians who served in the positions of Number Two citizens, Atiku holds the UHFRUG RI EHLQJ WKH PRVW ZURQJIXOO\ YLOLÀHG VRLOHG DQG VXOOLHG RFFXSDQWV RI WKH R΀FH Beginning from Joseph Akinwale Wey; through Olusegun Obasanjo; Shehu Musa Yar’Adua; Alex Ekwueme; Tunde Idiagbon; Ebitu Ukiwe; Augustus Aikhomu; Oladipo Diya and Mike Okhai Akhigbe, never have the travails of Number Two citizen’s ever come close to the heckling and harassment Atiku faced as Vice President. Not even Goodluck Jonathan, Namadi Sambo and Yemi Osinbajo, his successors thus far. Ukiwe voluntarily left WKH R΀FH RI &KLHI RI *HQHUDO 6WDͿ &*6 WR military president Ibrahim Babangida, one year into their regime in 1986, and retired from military service.

8NLZH D ÀQH EUHHG DQ XQXVXDOO\ SULQFLSOHG R΀FHU DQG JHQWOHPDQ ZKR DV WKH political second-in-command, refused to be relegated behind his juniors in the order of military hierarchies. He fought on the side of the unrecognised *Republic of Biafra* during the 30-month long Nigerian Civil War, 1967 to 1970. Following the reintegration of soldiers of the Nigerian army who fought on the side of the “rebel forces,” his “seniority” was not restored as it should have been. This placed him at some disadvantage in the seniorityuncompromising military services. Diya, who passed on recently was military deputy to Sani Abacha. He was framed for a coup attempt and sentenced to death by a military tribunal in 1997. He survived by divine intervention, following the providential demise of his principal and potential nemesis, and the ascendancy of Abdulsalam Abubakar. As we

VKDOO ÀQG LQ RXU GLVFRXUVH WKH H[SHULHQFHV RI Ukiwe and Diya, under regimental rule, are FRPSOHWHO\ GLͿHUHQW IURP WKDW RI $WLNX Atiku Abubakar paired Olusegun Obasanjo after the latter’s victory at the presidential primaries of the Peoples’ Democratic Party, (PDP), February 1999, held in Jos, Plateau State. He had already acquired the reputation of a nascent political force in the nation’s unravelling politics, and was governor-elect of Adamawa State awaiting inauguration. Six years before then, Atiku put up a very strong showing at the presidential preliminaries of the defunct Social Democratic Party, (SDP), which held in the same “Tin City.” Jos assumed that longstanding alias because of the substantial mining activities that took place in Nigeria’s primordial economy. He posted third behind Moshood Abiola and Baba Gana Kingibe, and had to be prevailed upon by his political leader at the time, Shehu Yar’Adua, to step GRZQ VR $ELROD FRXOG ZLQ WKH ÀHVW\ FRQWHVW Atiku had therefore built substantial crossnational political capital, even at that time. $V D SXEOLF R΀FHU ZKR URVH WR D OHYHO which can be equated with the contemporary designation of a “Deputy ComptrollerGeneral,” (DCG) of the Nigerian Customs Service, (NCS), Atiku was posted around the country quite robustly during his eventful two-decade stint on the job. He made friends and nurtured relationships within the period many of which remain till date.

His marriage to Titi Atiku-Abubakar who LV <RUXED VSRQWDQHRXVO\ GHÀQHG $WLNX D Fulani, as pan-Nigerian and cosmopolitan.

These broad tentacles he developed early in his public service life, played in his favour at the beginning of the fourth republic. He was the natural rallying point of the cream of PDP governors who unanimously deferred to him because of his experience and charisma. It will be safe therefore to say that he leveraged these relationships for the electoral success of the Obasanjo/Atiku ticket. The duo coasted home at the 1999 presidential election, despite

Obasanjo’s inability to win in any of the six Yoruba states, his sociocultural homeland.

Everything looked good and chummy between Atiku and his boss until the twilight RI WKHLU VHFRQG WHUP LQ R΀FH $WLNX KDG EDFN LQ UHEXͿHG VXJJHVWLRQV WKDW KH VKRXOG contest the presidential primary against Obasanjo who was expected to adopt the *Mandela prototype.* This would have meant Obasanjo giving up the presidency after one term and handing over to his deputy. This was the same way Nelson Mandela, icon of the anti-apartheid struggle in South Africa, gave way to Thabo Mbeki, his deputy. Towards the end of Obasanjo’s second and constitutionally ÀQDO WHUP KRZHYHU 2EDVDQMR DOOHJHGO\ EHJDQ WR HQWHUWDLQ VXJJHVWLRQV WR WKH HͿHFW that he could indeed run for a third term! Part of the plot, purportedly, was to induce the SDUOLDPHQW PDWHULDOO\ WR SXOO WKLV RͿ 6XPV ranging between N40 million and N50 million per Member of the House of Representatives and per Senator, respectively, were reportedly gifted the lawmakers respectively, as part of WKH SORW 3ULQFLSDO R΀FHUV LQ ERWK VWUDWD RI WKH legislature presumably received more.

Atiku, a veteran of the democratic struggle would not sit by and watch the desecration of the nation’s hard-earned democracy. He pulled the strings in the national assembly, reminding parliamentarians about the potential damage Obasanjo’s scheme could YLVLW RQ 1LJHULD·V ÁHGJOLQJ GHPRFUDF\ Nigeria which has stridently opposed political *sit-tightism* elsewhere in Africa, should not suddenly become a model for what is wrong. What morality shall we preach to Robert Mugabe, Paul Biya, Yoweri Museveni, Obiang Nguema Mbasogo of Zimbabwe, Cameroun, Uganda, Equatorial Guinea, respectively, if we trod the same path of illegal and unconstitutional perpetuation LQ R΀FH" $WLNX ZRQ WKH EDFNVWDJH EDWWOH DQG the parliament rejected Obasanjo’s third term proposition. Thus began the coordinated scheme to marginalise, undermine, decimate DQG GHQLJUDWH $WLNX·V SHUVRQ DQG R΀FH E\ loyalists of the president.

There were orchestrated attempts to remove $WLNX D VLWWLQJ YLFH SUHVLGHQW IURP R΀FH illegally; violate and withdraw the immunity conferred on him by the Constitution, and to arrest him unlawfully and prosecute him. The Independent National Electoral Commission, (INEC), on the directives of the presidency, GLVTXDOLÀHG $WLNX IURP FRQWHVWLQJ HOHFWLRQV LQ 2007; the Code of Conduct Bureau, (CCB) as instigated by the powers-that-be commenced proceedings against him, while the PDP, the party he helped to birth and groom, expelled him outrightly. Such was the multifaceted EXͿHWLQJ DQG RSSUREULXP $WLNX HQGXUHG in his service to democracy. Such was his simulated predicament in service to nation.

Olusunle, PhD, poet, journalist, scholar and author, is a Member of the Nigerian Guild of Editors, (NGE)

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MONDAY APRIL 10, 2023

REMI ADELOWO argues that Bola Tinubu clearly won the 2023 presidential contest There is a lot more to be done to improve the business environment in spite of the push by PEBEC and subnationals, contends JUMOKE ODUWOLE

TAKING EASE OF DOING BUSINESS REFORMS TO ALL Nigeria is home to over 39.6 million MSMEs, comprising 96.7% of all businesses in Nigeria. Some 67% of these businesses are youth-owned. In 2022, MSMEs contribute over 45% to the country’s gross domestic SURGXFW *'3 :LWK RI WKHVH businesses in the micro cadre, they account for nearly 90% of the jobs made available nationwide. Therefore, as MSMEs grow, they create opportunities that lead to prosperity for more, and less insecurity across the country. Yet, Nigeria, along with the rest of the world, is facing challenging economic FRQGLWLRQV 7KH HͿHFWV RI WKH &29,' pandemic are still being felt, the war in Ukraine has increased international tensions, and global supply chains are under pressure.

The global economy has been slow to adapt

to these challenging conditions, and while Nigeria has shown resilience in the face of these headwinds, the country’s economic growth, although positive, has not been strong enough to markedly improve the living standards of the average Nigerian.

Indeed, there is a strong correlation between a country’s business environment and the DPRXQW RI IRUHLJQ GLUHFW LQYHVWPHQW )', received. A poor business environment leads WR UHGXFHG LQYHVWRU FRQÀGHQFH DͿHFWLQJ WKH ÁRZ RI LQYHVWPHQW FDSLWDO LQWR WKH FRXQWU\ further hampering economic growth. Since its inception in July 2016, the PEBEC has partnered with stakeholders from all arms and levels of government and the private sector to reduce the cost and time of doing business by removing bureaucratic and legislative bottlenecks, facilitating access to justice and enhancing transparency, particularly through the use of technology.

It is abundantly clear that there can be no meaningful progress in Nigeria’s business environment without the commitment of state governments to the implementation of ease of doing business reforms. This led to an intervention with the National Economic &RXQFLO 1(& LQ -XO\ WR FDVFDGH the reforms to the subnational level for the EHQHÀW RI DOO 1LJHULDQV E\ MRLQWO\ XQORFNLQJ the constraints faced by businesses across the country and support them by making Nigeria a progressively easier place for them to start and grow their businesses to scale and thrive. With the nomination of State Reform Champions, the inauguration RI (DVH RI 'RLQJ %XVLQHVV (R'% &RXQFLOV and targeted reform agendas across states, the PEBEC-NEC collaboration has brought ease of doing business to the forefront of policy discussions and continues to provide an impetus for the implementation of coordinated business climate reforms at the subnational level. In September 2017, the PEBEC-NEC Subnational Technical :RUNLQJ *URXS 7:* FRPSULVLQJ representation from six states in the six geopolitical zones, the PEBEC Secretariat, the NEC Secretariat, Nigeria Governors’: )RUXP 1*) 6HFUHWDULDW WKH 1DWLRQDO Bureau of Statistics, the Nigerian Investment Promotion Commission, the Nigerian Export Promotion Council, the Nigerian

Economic Summit Group, and other private sector representatives, was formed.

The TWG conceptualized and developed a framework for Nigeria’s homegrown subnational ease of doing business survey, which was subsequently concretized as the initial methodology for the baseline survey. The survey is designed to provide empirical information on the attractiveness of states’ business climate primarily from the perspective of the private sector respondents, and to serve as a credible reference resource IRU EXVLQHVVHV DQG LQYHVWRUV 7KH ÀUVW RI its kind, Nigeria’s inaugural homegrown subnational report – the 2021 Nigeria Subnational Ease of Doing Business Baseline Survey Report – was released on March 18, 2021, and the rankings subsequently made public. The report captured a snapshot of each business environment at the subnational level, as well as existing economic realities of MSMEs doing business in Nigeria at the time, creating an empirical baseline for VXEQDWLRQDOV DQG 0'$V WR UHÀQH WKHLU UHIRUP agendas. The second iteration of the report, the 2023 Nigeria Subnational Ease of Doing Business Report was released on March 27, 2023, in actualisation of our commitment to make this report a biennial resource.

The 2023 report builds on the previous edition and improves it in several areas. It provides more nuanced information on the business climate across the 36 states and the )HGHUDO &DSLWDO 7HUULWRU\ )&7 ,W KLJKOLJKWV improvements made since the release of the ÀUVW UHSRUW DQG LGHQWLÀHV WKH FKDOOHQJHV that remain to be met, as well as the reforms that need to be implemented to make the business environment more conducive. We have enhanced the report’s methodology, deepening and expanding the indicators from the initial four to six - infrastructure; secure and stable environment; transparency and accessibility of information; regulatory environment; skills and labour and economic opportunity. Each state has been rated on a 10-point scale across the indicators, providing the basis for calculating the 2023 weighted EoDB score for each state.

Further to the feedback received from MSMEs and going by global best practice, we carved out secure and stable environment from the infrastructure indicator, making it a standalone indicator. We introduced a new indicator - access to economic opportunity.

The survey sample size of the latest edition increased from 998 companies to 2,852 companies, enhancing the statistical power and relevance of the survey. This represents an improvement over the statistically relevance but relatively smaller sample size of the baseline survey. At the country-wide level, the 2023 report shows a marginal increase in Nigeria’s overall EoDB satisfaction score to 5.69 on a 10-point scale from 5.45 recorded in the inaugural report. While acknowledging this improvement, we recognise that there is a lot more to be done to improve the business environment in spite of the sustained push

by PEBEC and subnationals in this regard.

We see an increase in ranking for 16 subnational governments, while 18 states recorded a reduction, with three states maintaining their rank from the baseline survey report.

Dr Oduwole is Special Adviser to the President on Ease of Doing Business and Executive Secretary to the Presidential Enabling Business Environment Council (PEBEC)

ATIKU, OBI AND PHANTOM VICTORY Glaringly, but rather sadly, losers of the 2023 Niger, Kogi, Zamfara and Borno. presidential election are doubling down on In the South East, which hitherto was a their claims of a phantom “victory.”

PDP stronghold, Atiku lost abysmally. In For all their worth, these claims put on a the South-South, he won in just two states: test of rationality and common sense, are as Akwa Ibom and Bayelsa and lost in Edo, dubious as they are befuddling. The outcome Delta, Cross River, and Rivers States by of the presidential election could not have a reasonable margin. In the South West, been otherwise. The events that played out only Osun gave him a narrow win. He lost before the exercise clearly showed where the scandalously in Oyo, Lagos, Ondo, Ogun, pendulum of victory and defeat was swinging. and Ekiti, all of which Asiwaju Tinubu That Asiwaju Bola Ahmed Tinubu, the won. The Waziri Adamawa was literally President-elect won the 2023 presidential stripped bare. There was simply no clear contest came as no surprise. It was a reward for path to victory for him. a man who, for over three decades, has built For Mr. Peter Obi, his claim of a “stolen a formidable network oiled and tested for the mandate” sounds hollow and puerile. ÀHUFHVW SROLWLFDO EDWWOHV Here was a man, whose campaign mantra Many qualities stand Asiwaju Tinubu was premised on religious and ethnic out against his major contenders: his age- sentiments, but hoping to win a country ORQJ ÀGHOLW\ WR SURJUHVVLYH SROLWLFV OR\DOW\ of diverse ethnic and religious plurality. to friends and associates, bridge-building How he hoped to win a national mandate capacity, excellent grassroots networking, indeed beggars belief. large-heartedness, painstaking preparedness A thorough analysis of Obi’s performance in the election clearly attests to the fairness and credibility of the elections.

Outside his South East region comprising Anambra, Enugu, Imo, Abia, and Ebonyi, which he won resoundingly (though a question mark still hangs on the bogus ÀJXUHV KH UHFRUGHG WKH /3 DOVR ZRQ LQ Nasarawa, Plateau, Cross River, Edo, Delta DQG WKH )HGHUDO &DSLWDO 7HUULWRU\ )&7 In the North East, North West, and South :HVW ZLWK WKH H[FHSWLRQ RI /DJRV KH ZRQ which boast the highest number of voters, 2EL VFRUHG OHVV WKDQ ÀYH SHUFHQW EXW \HW insulted the sensibilities of right-thinking Nigerians by claiming victory. What a grand delusion of epic grandeur!

In contrast, Asiwaju Tinubu won four out of the six states in South West, won four IRU WDVNV GHOD\HG JUDWLÀFDWLRQ LQ SUHIHUHQFH out of six in North Central, came a close for the big picture, and an insatiable appetite second in North West and North East, and to take calculated risks. Can any of these major came second in South-South. Overall, he opponents boast all of these? The answer is an not won clearly in 12 states, but also scored emphatic NO! over 30 percent in 30 out of the 36 states of Many would easily recall Asiwaju the federation. What more can a national 7LQXEX·V ÀUVW IRUPDO VWDWHPHQW RI LQWHQW WR mandate be? contest for the nation’s number one seat at 5DWKHU WKDQ DFFHSW WKHLU VHOI LQÁLFWHG WKH 3UHVLGHQWLDO 9LOOD VKRUWO\ DIWHU EULHÀQJ defeat with utmost grace and equanimity, President Muhammadu Buhari on the same. the opposition leaders and their deluge %ULPPLQJ ZLWK FRQÀGHQFH KH KDG GHFODUHG of supporters are crying foul, baying for “Contesting for the Presidency has been my blood, and wishing for Armageddon. Even life-long ambition. I believe I have the vision, more ridiculously and unpatriotically, the capacity, and the track record to lead this Obi’s supporters are calling for an Interim country.”

1DWLRQDO *RYHUQPHQW ,1* RU D PLOLWDU\ From that auspicious moment till the election takeover. Not surprisingly, Obi has not GD\ $VLZDMX 7LQXEX ZRUNHG KLV VRFNV RͿ E\ reined in his supporters, most of whom are knocking on doors, selling his candidacy to REYLRXVO\ VXͿHULQJ IURP D PHOWGRZQ RI WKH KLJK DQG ORZ LQ QHDU DQG IDU ÁXQJ SODFHV his election loss. mobilizing and galvanising his support base, There is news for Obi and his unhinged while preaching messages of renewed hopes, followers: none of these asinine wishes will unity, and reconciliation. come to pass.

Can the same be said of his opponents?

The elections have come and gone. A Again, the answer is No! For Alhaji Atiku winner emerged and he is Asiwaju Bola Abubakar, the presidential candidate of the Ahmed Tinubu, who is now the President3HRSOHV 'HPRFUDWLF 3DUW\ 3'3 DOO KH EDQNHG elect. And come May 29, 2023, he would on to win the election was an “implosion” of be sworn in as the 16th President of the WKH UXOLQJ $OO 3URJUHVVLYHV &RQJUHVV $3& Federal Republic of Nigeria. after the presidential primaries and ethnic The earlier the Obidients and the solidarity with his candidacy by Northerners. Atikulates stop being sore and destructive But it turned out that the “implosion” losers and accept this reality, the better for Atiku wished for the APC happened right in their well-being and sanity. The majority of his camp. Five of the governors were up in well-meaning Nigerians, are willing and arms against him. The Northern solidarity ready to join hands with Asiwaju Tinubu he expected fell far short of his projections. in his age-long desire to take this country Of the 18 Northern States, he won his home to a pedestal of growth, prosperity, and state of Adamawa, Taraba, Gombe, Bauchi, development in the foreseeable future.

Yobe, Sokoto, and Kebbi by a narrow margin, with Asiwaju Tinubu not only coming a close Adelowo second but also won in Jigawa, Benue, Kwara, writes from Lagos

26 4

T H I S D AY

MONDAY APRIL 10, 2023

EDITORIAL

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

A CALL FOR GOOD GOVERNANCE The authorities must do more and create an enabling environment for gainful employment of the youth

T

hree years ago, the World Bank reported that Nigeria was currently undergoing the worst unemployment crisis in its history.

Sadly, the situation has since worsened with no indication that the authorities in Abuja and the 36 states recognise the looming danger. Titled, ‘Of Roads Less Travelled: Assessing the Potential for Migration to Provide Overseas Jobs for Nigeria’s Youth’, the report particularly raised the alarm over the nation’s expanding workingage population combined with scarce domestic employment opportunities amid dwindling resources.

This, according to the report, is creating high rates of unemployment, particularly for the youth.

The bank particularly noted that the socio-economic challenges facing the country in the past decade have led to an astronomical increase in the number of Nigerians seeking asylum and refugee status in other countries. A combination of rising unemployment, booming demography, DQG XQIXOÀOOHG aspirations, according to the World Bank, resulted in increasing pressure on young Nigerians to migrate in search of gainful employment overseas. When you juxtapose the report against the background that foreign direct investment to the country is drying up, it is obvious that we have a serious challenge on our hands.

The situation is worse for those who live in rural communities. The Food and Agricultural Organisation of the United Nations has harped on how the insurgency deny farmers access to agricultural inputs in the area.

But the problem is not restricted to the North-east. In virtually all parts of the country, many farmers cannot access their farms because of insecurity. This has started manifesting in the rising cost of food across the country.

'HVSLWH WKH FODLPV E\ JRYHUQPHQW R΀FLDOV WKH PXFK WRXWHG HFRQRPLF JURZWK KDV QRW JHQHUDWHG VX΀FLHQW employment, nor has it addressed the growing gap between the rich and the poor.

At practically all levels, there seems to be a

misconception about what governance is all about.

The tragedy of that misconception could be seen in the scorecards of some state and local governments’ helmsmen who celebrate the building of perimeter walls around government structures, distribution of IRRGVWXͿ GXULQJ IHVWLYLWLHV DQG GRQDWLRQ RI YHKLFOHV WR traditional rulers as landmark achievements. Yet good governance is that which is focused on the people, their safety and welfare, the optimal allocation of scarce UHVRXUFHV DQG WKH HͿHFWLYH LPSOHPHQWDWLRQ RI SROLFLHV for service delivery.

At its 2023 annual session in January, the Nigerian Economic Summit Group (NESG) projected unemployment rate in Nigeria to rise to 37 per cent this year. Meanwhile, the demand for young Nigerian graduates in both the United States and United Kingdom has increased. Nigerians are seen as aggressive, hardworking, achievement motivated among third world immigrants. The UK has adjusted its immigration policies, now allowing new Nigerian graduates a twoyear window to work in the UK after graduation. But the main challenge is that WKHUH DUH QR FRQFHUWHG HͿRUWV WR WDFNOH WKLV SUREOHP While states and local governments seek oil-rents and jeopardise internally generated revenue, successive national governments have also not adequately used oil revenue to lift the ordinary Nigerian out of poverty.

Rather, and in addition to rent-seeking, these revenues have served as slush funds and continue to enrich a few corporations and individuals over the masses. The high rate of out-of-school children and poor output in the education sector also contribute to deepening the challenge of unemployment as the nation continues to churn out a crop of uncompetitive youth in a world driven by technology. The federal government has also continued the regime of waivers to only a few persons as well as payment of subsidies that do not impact on the poor.

As we transit into a new administration at both federal and states, we need strategies for job creation for our growing young population.

Good governance is that which is focused on the people, their safety and welfare, the optimal allocation of scarce resources and the effective implementation of policies for service delivery 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 TACKLING PLASTIC POLLUTION IN NIGERIA The world is in a struggle with plastic. It can’t seem to do ZLWKRXW LW DQG GHÀQLWHO\ FDQ·W OLYH ZLWK LW ,W OLWWHUV WKH ODQGVFDSH FORDNV WKH GUDLQV DQG JXWWHUV DQG ÀOOV WKH FDQDOV ULYHUV and oceans. The UN says ‘the world is choking on plastic’ and National Geographic says ‘the world is drowning in plastic’.

Plastic is in almost everything. It is nearly everywhere. It is WKH WUXH GHÀQLWLRQ RI XELTXLWRXV ([SHUWV FRQFHGH WKDW SODVWLF waste is one of the major challenges to the environment and human existence. Indeed, plastics hold the world in a vice-like grip. It is impossible to escape plastic. Plastic waste is a plague.

The Principles for Responsible Investment in its 2019 report “The Plastics Landscape: The Challenges and Possible Solutions” asserts that across the globe plastic production and consumption are on the rise. And with less than 20 per cent of plastics recycled globally, it is no surprise that plastic waste is becoming more prevalent.

Another factor here is that 40 per cent of global plastics production is for packaging and 95 per cent is single-use. So, growth in production and consumption pattern along with an LQH΀FLHQW ZDVWH PDQDJHPHQW V\VWHP FRQWLQXHV WR SUHFLSLWDWH an increasing volume of plastic waste.

Lagos alone generates 9000 metric tons of waste daily; 86% of the waste generated consists of plastic bottles and bags according to The Lagos State Waste Management Authority.

The real problem with plastic is that it does not break down naturally. The very properties that led to the rise in the adoption of plastics (durability, low density and non-degradability) are precisely why they are today an environmental nightmare.

To tackle the threat of plastic overwhelming the world every hand has to be on board. The public, as well as private, sectors, must be involved and necessarily be willing to work together.

Plastics may be an environmental challenge, but they are equally a path to immense opportunities. Plastics can be a source of a great number of jobs and they are reused as raw materials for the production of other goods. Think of the circular economy: design, reuse, repair and recycling.

The Minister of Environment, Barr. Mohammed Abdullahi while speaking in Abuja at the inaugural meeting of the project steering committee for the plastic circular economy project, lamented that “only 45 per cent of waste in Nigeria are collected, 80 per cent of plastic waste goes to dump site while only 10 SHU FHQW LV UHF\FOHG µ 7KH VWDWLVWLFV DUH ZRUU\LQJ 6X΀FH LW WR

VD\ WKDW 1LJHULD KDV QR H΀FLHQW ZDVWH PDQDJHPHQW V\VWHP LQ place. Plastics are a menace.

At the core of the plastic menace are PET bottles, or polyHWKHQH WHUHSKWKDODWH ERWWOHV 3(7 ERWWOHV SRVH D VLJQLÀFDQW HQYLronmental threat due to their non-biodegradable nature. When WKH\ HQG XS LQ ODQGÀOOV RU RFHDQV WKH\ FDQ WDNH KXQGUHGV RI years to decompose and release harmful chemicals into the environment. Additionally, discarded PET bottles can cause harm to wildlife, with many marine animals consuming them, leading to serious health consequences. The scale of the issue is VLJQLÀFDQW ZLWK ELOOLRQV RI 3(7 ERWWOHV SURGXFHG DQQXDOO\ DQG only a fraction of them being recycled or properly disposed of.

To address the issue of plastic waste, we must explore how to tackle the proper disposal of PET bottles.

To make a meaningful impact in addressing the issue of PET ERWWOHV FROODERUDWLYH HͿRUWV DUH QHHGHG IURP ERWWOHUV JRYHUQPHQWV DQG 1*2V ,Q WKH ÀJKW IRU D VXVWDLQDEOH IXWXUH FROODERration is indispensable.

Elvis Eromosele, Lagos

T H I S D AY ˾ MONDAY, APRIL 10, 2023

27

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

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

08056356325

A P R I L

S & P INDEX

6 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.55%

INDEX LEVEL

612.93%

1/4 TO DATE

-0.22%

N461.46/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

10.80%

1-DAY

0.30%

YEAR TO DATE

0.22%

*AS AT LAST FRIDAY

3-MONTH

11.65%

MONTH-TO-DATE

1.44%

UBA, Zenith Bank, Four Others Declared N 3 8 9 . 8 b n D i v i d e n d i n Two Ye a r s

Kayode Tokede Despite the challenges in the domestic and global economy, six out of 13 listed banks on the Nigerian Exchange Limited (NGX) declared a total of N389.8 billion as dividend to shareholders between 2022 and 2021 financial year.

The dividend pay out is on the back of N1.32 trillion profit after tax (N691.97billion in 2022 and N631.41 billion in 2021) financial year.

The year 2021 and 2022 witnessed upheaval globally and it came with

significant headwinds across all emerging, among other markets.

The Russia-Ukraine conflict, rising inflationary pressure, tightening monetary policy stances by major central banks, new waves of Covid-19 outbreaks and related lockdowns, as well as supply chain bottlenecks all took a heavy toll on the global economy in 2022.

The six banks; Zenith Bank Plc, United Bank for Africa Plc (UBA), Stanbic IBTC Holdings Plc, Ecobank Transnational Incorporated (ETI), FCMB Group Plc and Jaiz bank Plc

declared N198.2 billion, and N191.6 billion dividend in 2021 and 2022 respectively.

Meanwhile, Access Corporation, Guaranty Trust Holding Plc, Sterling Financial Holdings Company Plc, Union Bank Plc, Wema Bank Plc, Fidelity Bank Plc, and FBN Holdings are yet to submit 2022 financial statement or declared dividend.

Analysis of the six banks results showed that Zenith Bank leads other financial institutions in profit and dividend pay out to shareholders, followed by UBA in 2022 and 2021.

Zenith Bank between 2021 and 2022 declared a sum of N468.47billion profit and proposed to shareholders a dividend of N197 billion, while UBA declared N227.84 billion profit in two year and proposed a dividend of N71.82 billion.

Zenith Bank group profit after tax had decreased by eight per cent from N244.6 billion to N223.9 billion because of the increase in the group’s effective tax rate from 12.7 per cent in 2021 to 21.3 per cent in 2022.

“This increase is because of the effective implementation of the

Finance Act. This significant increase is a one-off and is not expected to recur in subsequent years. This affected return on equity which reduced from 20.4 per cent to 16.8 per cent,” the bank explained in a statement.

For ETI, thee management proposed a final dividend of 0.11 US cents per ordinary share in 2022 and 0.16 US cents in 2021.

While commenting on the pan-African bank performance in 2022, the CEO of Ecobank Group, Jeremy Awori in a statement said,

“Ecobank’s strong 2022 performance reflects the strength of our diversified business model, growth momentum and efficiency, and was achieved despite operating in a challenging macroeconomic environment, which also included the difficulties that Ghana’s debt restructuring exercise placed on us.

Capital market analysts lauded 2022 corporate earnings and dividend payout of Zenith Bank Plc, among others, stating that financial Continued on page 29

Amid Quest for Cleaner Energy, Nigeria Must Prioritise Non-oil Sources for Survival, Says NEPC Boss James Emejo in Abuja Executive Director/Chief Executive, Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, has said dwindling revenue from crude oil coupled with the global shift in usage of fossil fuel to cleaner energy sources had made it imperative that the country must focus on the non-oil sector for survival.

He said this was a major

reason the council initiated the Export4Survival campaign as a patriotic call for all Nigerians to imbibe and adopt non-oil export trade as a viable means of economic development to boost Nigeria’s foreign exchange earnings in light of dwindling inflows from the sale of crude oil.

Speaking during the stakeholders’ conference organised by the Commerce and Industry

Correspondents Association of Nigeria (CICAN), he said the programme which was launched by the Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo November 2022, had become a pivot for sustainable and inclusive economic growth.

Yakusak said, “Export4Survival is a strategic initiative that seeks to massively increase awareness of the opportunities inherent in

the Nigerian non-oil export sector (both upstream and downstream), as well as the benefits accruable from exporting Made-in-Nigeria goods and services to the overall growth of the Gross Domestic Product (GDP).”

He pointed out that the campaign was anchored on imagining a Nigeria without crude oil and with no choice but to depend on non-oil export as the only means

of survival.

He said the council had also commenced a series of programmes and initiatives to actualize the campaign, adding that these efforts are currently yielding positive dividends.

Specifically, the NEPC boss pointed out that the non-oil export sector recorded a significant upsurge in revenue, recording $4.82 billion in 2022 and representing

an increase of 39.91 per cent over 2021 export value.

According to him, “This revenue is the highest value ever achieved since the establishment of the NEPC, 47 years ago, and is destined to change the economic trajectory of the country.”

Yakusak explained that the council believed with the right Continued on page 29

M A R K E T D ATA A S AT T H U R S D AY, A P R I L 6 , 2 0 2 3 BONDS DESCRIPTION Price ^14.20 14MAR-2024 ^13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

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

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

Yield

BILLS MATURITY

Discount

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

1.53

NTB 11May-23

2.70

1.54 1.83 2.43

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

Yield

2.72

January -0.54 13, 2023

OTC F X F U T U R E S

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

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

Discount Yield

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

28

MONDAY, APRIL 10, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Seplat Commits Additional N16.5m Funding to Youth Entrepreneurship Devt Peter Uzoho Seplat Energy has reaffirmed its commitment to the development of entrepreneurial and leadership skills and talents of young Nigerians with the donation of another N16.5 million funding in seed money to Conversation for Change (C4C), its implementing partners in the Seplat Energy JV Entrepreneurship Fellowship Programme.

The programme, which began in 2019 aims at developing participants’ leadership skills, social entrepreneurship, and business management abilities, through customized and targeted capacity building workshops.

At a special event to celebrate the past beneficiaries -Fellows of the programme, the Nigerian independent energy group also used the occasion to reaffirm the company’s commitment

with another N16.5 million funding in seed money to the programmes partners.

Speaking at the event, the Director of External Affairs and Sustainability, Seplat Energy, Dr. Chioma Nwachuku, noted that through the Seplat JV/C4C partnership, the company has successfully trained and supported three batches of fellows, comprising about 55 young entrepreneurs, who are thriving, creating value and boosting Nigeria’s economy.

“Each beneficiary has shown resilience, creativity and innovation through the duration of the yearly programme and has now become our proof that we could truly make Nigeria better by investing in the youth population,” Nwachuku said.

Delivering a lecture to the Fellows to commemorate the auspicious occasion, with the theme: “Unleashing

Nigeria’s untapped Potential through Entrepreneurship and Sustainability”, a former Independent Non-Executive Director of Seplat Energy Plc, Ms. Arunma Oteh, commended Seplat Energy JV and its partner, C4C, for their strong commitment to youth empowerment in Nigeria.

In her lecture, which was to build more capacity and further equip the entrepreneurs, Oteh stated that their activities have helped reduce unemployment and ameliorate the poverty level and have also contributed to economic growth and prosperity in the country.

An Independent NonExecutive Director and member of the Sustainability Committee of the Seplat Energy Board, Mr. Bello Rabiu, restated the company’s continuous commitment to encouraging and supporting entrepreneurship in Nigeria.

Revised Capital Market Master Plan Implementation, Others Top Agenda at SEC’s Q1 CMC Kayode Tokede The Securities and Exchange Commission (SEC) and the capital market community would discuss the implementation of the Revised Capital Market Master Plan, Fintech and commodities trading ecosystem roadmap as well as other matters relating to the capital market and the economy at its First Capital Market Committee (CMC) meeting in 2023.

The meeting is scheduled to hold virtually with key stakeholders in the capital market in attendance on the first day, while the usual interface with the press, on the outcome of the CMC meeting, will take place the following day.

The CMC is an industry-wide committee comprising members of the SEC, representatives of capital market operators and trade groups and other stakeholders. It

was primarily established to serve as a medium for the exchange of ideas among market stakeholders as well as an avenue for providing feedback to the SEC on how to continuously address challenges, improve market operations and enhance the regulatory framework.

According to the SEC, “Attendance to both events is strictly by invitation.

Invited participants will be sent unique links with which to join the meeting.

“During the meeting, issues bordering on implementation of the Revised Capital Market Master Plan, implementation of the Fintech Roadmap, the commodities trading ecosystem roadmap as well as other salient matters relating to the capital market and the economy would be discussed.”

The Commission unveiled the Revised Capital Market Master

Plan (CMMP) in November 2022 which serves as a blueprint to harness opportunities to better position the capital market as the engine of economic growth and development. The SEC had previously implemented the initiatives of the 10 Year Capital Market Master Plan, which were designed to reposition the Nigerian Capital Market as an attractive investment destination and a critical facilitator of capital formation for the accelerated growth and development of the Nigerian economy.

Some of the CMMP initiatives that have been implemented include; Direct Cash Settlement, regularisation of multiple subscriptions, dematerialisation of share certificates, and the introduction of the e-Dividend Management System.

FG to Support Imo State University of Agriculture with Grants, Farm Equipment Gilbert Ekugbe The Minister, Federal Ministry of Agriculture and Rural Development, Dr. Mohammad Mahmood Abubakar, has pledged to support the Imo State University of Agriculture and Environmental Sciences, Umuagwo, with farm equipment, accessories and grants to enhance economic growth.

The Minister made the pledge during a courtesy visit by the Acting. Vice Chancellor of the University, Professor Christopher Eze and his team to his office in Abuja

Abubakar said agriculture is of great importance and cannot be separated from environmental sciences, pointing out that agriculture is no longer about food only but regarded as a business and indeed the bases of all other businesses.

He however, stated that most of the foreign exchange earnings, infrastructures before now had been raised courtesy of the agricultural sector of the economy.

He therefore assured that the Ministry would work with the University to boost the socio economic development of the

country, promising to visit the University before the end of his tenure.

In his remarks, the Acting Vice Chancellor, Imo State University of Agriculture and Environmental Services, Prof. Christopher Eze, commended the Minister and management staff for their laudable programmes and achievements.

He pointed out that the dwindling State Government resources and inadequate facilities had caused the University to operate with serious challenges and this explained their quest for assistance.

NCAA Raises Penalties for Airlines Violators to N10mn Kasim Sumaina in Abuja The Nigerian Civil Aviation Authority (NCAA) on Tuesday in Abuja said it has reviewed penalties upwards for violators in the Aviation sector with the maximum penalty for airlines standing at N10 million while the minimum is N1 million.

NCAA noted that the upward review of penalties is not punitive but was guided by current realities in line with International Civil Aviation Organization (ICAO).

NCAA also said Air Operator Certificate (AOC) license for airlines offering scheduled flight operations will now be valid for 5 years as

against the three years the regulation previously allowed.

It added that for non-scheduled operators like private jets operators, their license will now be valid for three years.

The Director General of NCAA, Capt. Musa Nuhu, made the disclosure during the opening session of a three-day consultative meetings with stakeholders in the Nigeria aviation industry to brainstorm on the proposed amendment of the Nigerian Civil Aviation Regulations (Nig. CARs) 2015.

According to him, there are also plans to increase the validity of Airlines Operating Certificate

(AOC) to 5 years to avoid disruption in the operation of airlines, adding that fees and charges had not been updated since 2009.

Nuhu revealed that the Stakeholders’ Consultation is in accordance with the obligation imposed on the Authority in Section 31(5) of the Civil Aviation Act 2022 which states that “in the exercise of its power to make regulations under this section, the Authority shall consult with stakeholders including airlines, aerodrome operators, air traffic control service providers, consumers and other relevant bodies and organizations in the aviation industry.

From Crisis to Opportunity: Innovative Strategies of CPS for Improving Nigeria’s Retirement Challenges The Defined Benefits Scheme (DBS) presented significant challenges to retirees, leading to the introduction of the Contributory Pension Scheme (CPS) in 2004.

Before the CPS, large pension liabilities made it impossible for the Federal and State governments to meet their pension obligations to retirees.

At the same time, the private sector retirement plans offered low pensions.

The CPS revolutionised Nigeria’s pension and retirement landscape by introducing innovative solutions PENCOM DG, Aisha Dahir-Umar such as Individual approved 9,920 requests for retirement benefit Retirement Savings Accounts (RSA), Minimum Pension Guarantee payments. N48.85 billion was approved as a (MPG), and segregation of pension management lump sum, while monthly pension and annuity from custody under the regulatory supervision payment was N593.03 million. PenCom also granted approval to PFAs to pay N12.72 billion of the National Pension Commission.

The CPS also facilitated the Mobility of to 13,126 RSA holders under 50 who lost their Labour, Contributors’ Rights, Retirement jobs and could not secure new employment Benefits Payments, and the Accumulation within four months, representing 25 percent of their RSA balances. In addition, PenCom of Long-term Funds.

The RSA allows participants to open granted approvals to pay death benefits to individual accounts where contributions the Administrators/Legal beneficiaries of accumulate until retirement. The RSA eliminates 5,562 deceased employees and retirees in pension liabilities, and once an employee the sum of N15.79 billion during the period, exits active service, funds are available for indicating that the CPS provides financial immediate payment of retirement benefits. The security during retirement and temporary RSA also allows members to make voluntary loss of employment.

The CPS also provided for a Minimum contributions to their RSAs, and PFAs must provide regular/periodic account statements Pension Guarantee (MPG) as contained in the PRA 2014, which is a provision for all to keep contributors informed.

The CPS allows for easy labour mobility individuals who have contributed for some across sectors and different tiers of government. years but have not accumulated enough to Once an RSA is opened and a Personal have a minimum pension. PenCom is working Identification Number (PIN) issued to an to determine the minimum pension and effect employee, the number remains tied to the implementation.

Furthermore, the CPS has generated a pool employee throughout their lifetime, allowing them to maintain their RSA for contributions of long-term funds that have been invested in from new employers. There is no need to the economy, with N15.27 trillion generated open another RSA when changing jobs, only as of January 31, 2023. The CPS has directly providing the new employer with the PIN facilitated the transfer of resources over time and the pooling of funds in an efficient manner, and the PFA. Contributors under the CPS have the significantly impacting capital formation, opportunity to select any PFA of their choice investment, and GDP growth.

In conclusion, the CPS is necessary due to to open their RSA, transfer their account from one PFA to another once a year, and choose the challenges associated with the old DBS, either the Programmed Withdrawal (PW) or including coverage, funding, transparency, and Retiree Life Annuity (RLA) method upon inability to pay retirement benefits, leading retirement. The PW offers a retiree a lump to the accumulation of enormous pension sum and regular monthly or quarterly pension liabilities that are yet to be fully settled. The payments throughout an estimated life span. In CPS has reformed pension administration contrast, the RLA provides periodic payments in Nigeria, ensuring workers receive their to a retiree during his lifetime. retirement benefits immediately after they During the first quarter of 2023, PenCom retire.

T H I S D AY ˾ MONDAY, APRIL 10, 2023

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BUSINESSWORLD

STATUS REPORT

PZ Records Robust Profit Amid Hike in OPEX

Kayode Tokede

A

mid hike in operating expenses, PZ Cusson Nigeria Plc unaudited year result and accounts for the period ended May 31, 2022 showed sustained growth in profit driven by double-digit growth in revenue.

Interplay between hike in foreign exchange loss and significant increase in cost of sales had threatened the multinational company’s profit & loss figures recovery in the year under review.

The company declared a dividend of N4billion representing a payment of N 1.01 per ordinary share, The company’s revenue hits another milestone in 2022, driven by growth recorded in its home and personal care products and durable electrical appliances amid low purchasing power due to double-digit inflation, among other factors.

The breakdown of revenue in the last five-year revealed that PZ Cusson Nigeria reported N100.04billion revenue, an increase of 21.1 per cent from N82.58billion revenue reported in 2021.

The firm had reported N66.99billion revenue in 2020, a N74.34billion revenue in 2019 from N80.55billion reported in 2018 and closed 2017 with revenue of N78.22billion.

The company’s home and personal care products includes morning fresh, Zip, Canoe, Premier, Excel, Joy, Stella, Venus, Imperial leather, Cussons Baby,

Original Source, Carex, Robb, among others.

The Dural electrical appliance of PZ Cussons includes Thermocool Refrigerators, Freezers, Televisions, Generators, Air conditioners, Washing Machines, among others.

Cost of sales for the period grew significantly 27.4 per cent to N75.7billion in 2022 from N59.48billion in 2021.

So, Cost of sales/revenue increased to 75.72per cent in 2022 from 72.03 per cent in 2021.

The growth in revenue contributed to 5.16per cent increase in gross profit to N24.3billion in 2022 from N23.09billion reported in 2021.

This dragged gross profit margin to 24.28 per cent in 2022 from 27.9 per cent in 2021. PZ Cusson Nigeria is exposed to commodity price risk arises from specific needs to buy quality and quality to meets its manufacturing standards.

These raw materials include crude palm oil, tallow, sodium silicate and linear alkly benzene.

The company has been effective with its method of purchasing these materials in advances and this is based on management’s past experience with price movement in Nigeria.

Meanwhile, total operating cost of PZ Cusson Nigeria rose by nearly seven per cent to N16.9billion in 2022 from N15.86billion reported in 2021.

Due to the operating environment,

the company recorded a growth in impairment of trade receivables to N139.4million in 2022 from N85.06million in 2021.

The impairment loss as at May 31, 2022 related to several customers that are not expected to be able to pay their outstanding balances, mainly due to economic circumstances.

Interestingly, in the year under review, the company report Exchange loss of N4.2billion from N5.95billion reported in the prior year.

On this, operating profit closed 2021 at N3.08billion as against N1.19 billion operating profit recorded in 2021. PZ Cusson Nigeria reported N5.76billion income from non-core business income in 2022 from N2.07billion in 2021.

From the profit & loss figures, PZ Cusson Nigeria reported 251.96 per cent increase in interest income to N839.64million in 2022 from N238.56million in 2021 as interest cost dropped significantly by 84.6 per cent to N11million in 2022 from N71.48million in 2021.

Meanwhile, the group closed the year with N9.67billion profit before tax from N3.44 billion profit before tax reported in 2021 financial year.

With tax expenses of N3.27billion, PZ Cusson Nigeria reported profit of N6.4 billion from N1.7billion reported in 2021.

PZ Cusson Nigeria in 2022 unaudited financial statement

reported significant increase in trade and other payables to increase total liabilities.

As trade and other payables rose by 32.4 per cent to N57.89billion in 2022 from N43.74billion in 2021, the Group current liabilities rose by 35.4 per cent to N62.3billion in 2022 from N46billion in 2021.

Total non-current liabilities grew by 14.9per cent to N5.77billion in 2022 from N6.72billion reported in 2021.

Meanwhile, PZ Cusson Nigeria reported a 12 per cent increase in total assets to N108.05billion in 2022 from N87.34billion in 2021, while total equity gained 16 per cent to N39.96billion in 2022 from N34.55billion in 2021.

The group and company are controlled by PZ Cusson (Holdings) Limited, incorporated in the UK, which owns 73.27 per cent (2020: 73.27 per cent) of the group and company’s shares. The remaining 26.73 per cent (2020: 26.73 per cent) of the shares are widely held.

The recent performance by PZ Cusson Nigeria has not attracted local/foreign investors to its stock. With outstanding shares of 3,970,477,045.00, and trading at N11 per share as at earnings and dividend to shareholders are two intrinsic factors driving the stock price on the Nigerian Exchange Limited (NGX).

The company needed to sustain its revenue growth and source materials locally in a move to reduce cost of sales and drive bottom-line performance.

UBA, ZENITH BANK, FOUR OTHERS DECLARED N389.8BN DIVIDEND IN TWO YEARS institutions in Nigeria are resilient to overcoming domestic and foreign challenges and declared dividend from their earnings.

Speaking with THISDAY, Chief Research Officer, InvestData Consulting Limited, Mr. Omordion Ambrose said the 2022 performance of these companies are impressive and their dividend returns are more attractive when compared to yields on money market instruments.

He said, “From the results we

have seen so far, Zenith Bank proposed N3.10 final dividend and UBA declared N1.1 dividend payout on the NGX. Some companies’ dividend payout were flat to show how the operating environment was challenging in 2022. Some of these companies over the years have been consistent in dividend payout to shareholders.”

Speaking from a shareholders’ perspective, Chairman Progressive Shareholders Association (PSAN),

Boniface Okezie stated that despite economic hardship, Dangote Cement, among others have reported impressive performance.

According to him, “As we have seen from their performance, there is resilience in the corporate world which means there is hope for our domestic economy. Those in the private world have put more handwork, diligence in growing profit and declared dividend in their move to give

back to shareholders. These firms pay heavily for security, and infrastructure which is not their duty.”

“Beyond valuation, dividend paying stocks can be a good source of stable income streams.

Many investors will want to invest in companies with a history of growing dividend and the likes of Zenith Bank, UBA and Stanbic IBTC Holdings over the years have sustained dividend payout

to investors,” he said.

The Managing Director/CEO APT Securities and Funds Limited, Mr. Garba Kurfi commended listed financial institutions for releasing impressive result and accounts for 2022, expressing concerns that the declared dividend by these companies did not reflect in the trajectory of the stock market in Q1 2023.

According to him, “These companies have declared impressive

dividend payout to investors but I do not know why the NGX Bank index did not respond to dividend payout in the financial sector.

“Investors on the Exchange were concerned over political unrest, among other factors, and opted to sell some of these banking stocks.

We hope these banking stocks will bounce back in the second quarter of 2023 once unaudited first quarter result and accounts are released to investing public.”

AMID QUEST FOR CLEANER ENERGY, NIGERIA MUST PRIORITISE NON-OIL SOURCES FOR SURVIVAL, SAYS NEPC BOSS strategy and policies, the country could leverage Foreign Direct Investment (FDI) to develop its non-oil export sector.

He said, “We at the NEPC firmly believe that our survival as a nation

depends on non-oil export. We, therefore, urge all Nigerians to join our #Export4Survival campaign train.”

Among other things, he said the current export-led growth strategy

would provide producers with incentives to export their goods through various economic and governmental policies as well as increase the capability of producing goods and services

that can compete in the world market, use advanced technology, and provide foreign exchange needed to import capital goods.

He added that exports can increase intra-industry trade, help

the country to integrate with the world economy, and reduce the impact of external shocks on the domestic economy.

According to him, “Experiences of Asian and Latin American

economies provide good examples of the importance of the export sector to economic growth and development, which led economists to stress the vital role of exports as the engine of economic growth.”

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BUSINESSWORLD

NEWS

L-R: Head, Business Stakeholder Management, Axxela Babatunde Baba-Agba; Senior Technical Assistant to the Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ayuba Zakka; Chief Strategy & Services Officer, Axxela, Olufisayo Duduyemi; Chief Executive, NMDPRA, Farouk Ahmed; Chief Executive Officer, Axxela, Bolaji Osunsanya; and Head, Regulatory Liaison, Axxela, Henry Sanyaolu, during a courtesy visit to the NMDPRA office in Abuja… recently

PenCom Disowns ASSOPEP, Warns Group Not HouseAfrica Launches Authorised to Process, Pay Retirement Benefits Real Estate Authentication James Emejo in Abuja The National Pension Commission (PenCom) has said the Association of Pension Desk Practitioners of Nigeria (ASSOPEP) has no affiliation with the pension industry and lacked the authorization of the commission to engage in pension transactions.

The commission also pointed out that Licensed Pension Fund Operators (LPFOs), who are statutorily mandated to undertake the processing and payment of retirement

benefits, are not in any way associated with ASSOPEP. PenCom, in a statement issued by the management and made available to THISDAY, insisted that the association had been engaged in illicit activities in the industry and warned members of the public not to patronise them in their own interest.

The statement noted that, “PenCom has particularly noted ASSOPEP’s claims of resolving pension issues and assisting retirees in securing their retirement benefits.

“The general public is kindly requested to note that the claims by ASSOPEP are entirely false as the association has no affiliation with the pension industry nor authorization of any kind whatsoever from PenCom.” The commission added, “PenCom, therefore, urges the general public to be cautious of any promise or claim made by ASSOPEP regarding pension and retirement benefits or any other matter relating to the pension industry in Nigeria.

“The Commission especially

strongly advises workers, retirees, pension desk officers and everyone approached by the Association with claims of consulting with their Pension Fund Administrators (PFAs) and PenCom for guidance and assistance in respect of their retirement benefits to exercise caution as any interaction with the Association is at the individual’s own risk.

“PenCom has, in the meantime, reported the activities of ASSOPEP to law enforcement agencies for appropriate action.”

Inadequate Funding, High Cost of Farm Inputs Hindering Nigeria’s Cocoa Production Gilbert Ekugbe The National President of Cocoa Farmers Association of Nigeria (CFAN), Mr. Adeola Adegoke, has stated that poor funding still remained a major hindering for cocoa production in the country.

Adegoke maintained that many members of CFAN are still struggling to get access to loans to maximise their opportunities in the nation’s cocoa value chain.

He told THISDAY in a telephone interview that financing the cocoa industry has remained a challenge for a very long, explaining that farmers involved in other related commodities have easy access to funds when

compared to cocoa farmers.

“Come to look at it, what is the finance level even from the Central Bank of Nigeria (CBN) under the Anchor Borrower Programme (ABP) and not to talk of any other interventions, which sometimes exclude the cocoa sector because of the gestation period,” Adegoke said.

He also stated that the high cost of farm inputs has become a very serious challenge to cocoa farmers in the country.

According to him, the cost of farm input is growing in geometrical dimensions while profit margins of cocoa farmers are diminishing.

He said: “There is need for the federal government to come up with some kind of subsidy

for the key areas of support such as pesticides, fertilizer are subsidised.”

He also lamented over the unavailability of lands for cocoa production due to its large requirement for land and gestation period, and called on the federal government to make conscious efforts to make lands available.

In his words: “Availability of lands, especially for our youths is also a major challenge. Crops that are not tree crops get access to farmlands easily, but cocoa because of its requirement for vast lands and gestation period do not get access to availability of lands.

“The government must make conscious efforts to make sure land availability is always

guaranteed to encourage the successful generation. Even if we are fifth in world cocoa production, there is a likelihood that we would drop downwards if our youths are not trained or provided incentives to go into cocoa production and part of it is the land, which is the key factor. So, the government must make lands available for youths to venture into cocoa production.

“Another challenge is the area of extension services in the olden days, we had the Cocoa Development Unit (CDU), availability of extension workers available to solve cocoa farmers’ problems on the spot, but presently, hardly will you see any extension service provider as they are longer available.”

Verve Card Expands Payment Scheme, Integrates Contactless Payments Emma Okonji Africa’s payment scheme, Verve International, has on-boarded 50 additional scheme members, bringing the total number of its scheme members to 250, spread across banks and other financial institutions.

Verve’s position as a market leader can be attributed to its ceaseless dedication to creating innovative payment solutions as well as leveraging strategic partnerships that provide Verve cardholders with more convenient and secure payment options. One of such options is

the contactless payment solution that enables customers to complete transactions in record time.

The integration of contactless payment technology allows Verve to provide a seamless and secure payment experience with its over 45 million cards in circulation, for existing and newly on-boarded individuals and businesses who will be able to make payments faster by simply tapping their Verve cards at payment terminals with the contactless feature, including Point of Sale (PoS) terminals at merchant and agent locations.

Verve’s contactless payment card leverages the latest security technology to protect customers’ personal and financial information using the EMV technology.

Speaking on the newly onboarded members, Managing Director, Verve International, Mr.Vincent Ogbunude, stated that the Verve brand would remain committed to providing customers with competitive value in the payment landscape, not just in Nigeria, but across the globe.

He said: “We are excited to continue expanding our

payment scheme and pushing the frontiers of innovation in the payment industry. We will continue to drive partnerships that do not only simplify payments but also provide top notch inventive payment experience for Verve cardholders to strengthen the growth of the digital payment ecosystem.”

He noted that the adoption of contactless technology was growing rapidly, and the Verve brand remained proud to be part of the development, offering its customers a fast, secure, and convenient payment experience.

Digital Platform Oluchi Chibuzor HouseAfrica, a proptech startup, has launched its innovative digital site, Sytemap.com that allows for instant land and real estate property authentication to detect fraud in the industry.

The digital transaction tool enables the firm to provide estate digitalisation and transparency transaction tools thereby enhancing confidence and eliminating fraud in land and real estate transactions across Africa.

The COO and Co-founder, House Africa, Ndifreke Ikpoku, who disclosed this in Lagos, recently, said the team members were inspired to build this after one of their Co-founders, Nnamdi Uba, was defrauded in a Land deal.

He revealed that, “Close to 95 percent of lands in Africa do not have verifiable titles which expose genuine retail investors to fraud. Our solution enables buyers to make informed decisions when buying lands. Over 100+ Real Estate companies already

use sytemap - including major brands like AlphaMead, Leadway Properties, Bamboo to mention a few.”

Commenting on the innovative site, the Managing Director of Leadway Properties, Amaka Udeh, said: “HouseAfrica mission aligns with ours especially as it ensures our clients enjoy the value of their real estate investments.”

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

Schneider Electric Reinforces Sustainability with Solar System Installation Ugo Aliogo Schneider Electric, has reiterated its commitment to driving sustainability, with the official commissioning of a solar energy system at the Federal Nigeria Society for the Blind (FNSB), which was donated in partnership with renewable energy engineering manufacturer, Eauxwell Nigeria Limited, on the 14th of March, 2023.

The event which took place at the Federal Nigeria Society for the Blind, Oshodi, Lagos, had in attendance the Country President, Schneider Electric West Africa Ajibola Akindele; Marketing Communications Manager, Bolanle Omotayo; Automation Technology Lead, Belema Koleoso; Sales Lead Process Automation, Dapo Sosanya ; Chairman, FNSB, Fusi Akinkugbe; Caretaker, FNSB, Ayopeju Njideaka; Executive Secretary, FNSB, Mayowa Oke; Sales Customer Support, Eauxwell Nigeria Limited, Okeke Oluchi, and others in attendance.

Speaking on Schneider Electric’s commitment to fostering sustainable development in Nigeria, Country

President, Schneider Electric West Africa Ajibola Akindele, revealed the alignment of the solar system installation with the United Nation SDG of affordable and clean energy for quality living in the 21st century.

He said: “The solar energy system’s installation provides FNSB with the accessible, renewable and clean energy it needs to power daily requirements and enhance the quality of education students receive at the FNSB.” The solar energy system installed was designed to include the recently launched HomayaPro solar inverter and has received laudable testimonies on the impact the system has made in the short time since its installation.

Also speaking at the event, the Chairman FNSB, Fusi Akinkugbe highlighted the development impact of the solar energy system donation to the centre.

He said the promotion of sustainable energy would significantly propel human development thereby improving the lives of individuals and communities, while creating cities that are safe, resilient, and sustainable.

T H I S D AY ˾ MONDAY, APRIL 10, 2023

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NEWS

EATECH Commended for Infrastructural Rehabilitation of College Chinedu Eze

L-R: General Secretary, Nigerian Society of Engineers NSE Ikeja Branch, Engr. Adegboyega Adeleye FNSE Head, Corporate Communications, Lafarge Africa Plc, Ginika Frank-Durugbor; Former Chairman, NSE Ikeja Branch, Engr.

Akintayo Akintola FNSE; Head, Sustainable Development and Corporate Brand, Lafarge Africa Plc, Titilope Oguntuga; and Assistant General Secretary NSE Ikeja Branch, Engr. Rotimi Olubowale at the Lafarge Africa Plc Stakeholder Engagement and Sensitization Visit to the Nigerian Society of Engineers, Ikeja Branch, in Lagos State ...yesterday

FG Committed to Total Radar Coverage for Airspace Safety, Says Sirika Kasim Sumaina in Abuja Minister of Aviation, Hadi Sirika has reaffirmed the commitment of the federal government to ensure the total radar coverage of Nigeria to ensure safety and security of the Nigeria’s airspace.

The minister gave the assurance during his visit to the Headquarters of CXR Networks the company engaged by the Nigeria government to manufacture the equipment required for the Total Radar Coverage of Nigeria (TRACON)

project of the Nigeria’s airspace in Paris, France.

Sirika in a statement issued by his Special Assistant on Public Affairs, James Odaudu, stated that the project was one of the legacy projects of the administration of President Muhammadu Buhari, in the aviation sector as it is meant to ensure that the Nigerian airspace is safe and secured.

He applauded and thanked the government of France for its support towards the project and its implementation.

He assured that the project

would enhance the capacity, efficiency and capability of the Nigerian Airspace Management Agency, “the agency of Government statutorily empowered for the management of the Nigerian airspace.”

He further stated that the various components of the equipment are some of the best that could be found in any part of the world, as they were manufactured in line with the best international recommended practices and standards of the International Civil Aviation Organization (ICAO).

UN Seeks Partnership with NiMet on Humanitarian Affairs Chinedu Eze The United Nations Office for the Coordination of Humanitarian Affairs (UN-OCHA) has indicated interest to work with the Nigerian Meteorological Agency (NiMet).

This was disclosed when a team from the UN body paid a courtesy visit to the NiMet headquarters in Abuja recently.

Speaking on the purpose of their visit the leader of the team and Head of Office for Nigeria, Trond Jensen said he was impressed by the analysis and the work that NiMet is doing, adding that the purpose of the visit was to continue its advocacy efforts to enhance the urgency, efficiency, and quality of humanitarian response in the North Eastern states of Borno, Adamawa and Yobe.

“One of the things we want to do this year together with the government Institutions that we

are working with is to be better prepared for the rainy season this year,” he added.

He noted that last year was a national disaster in terms of the extent and impact of the flooding, also in terms of the damage to infrastructure.

To mitigate hardship resulting from such challenges going forward, Jensen emphasized that UN-OCHA desires to work more closely with NiMet. “We want to work more closely with you in terms of understanding what might happen this year, compared to last year and how we can work better, working with you in terms of preparedness, in terms of anticipatory action where your input is actually critical for us to understand how the inclement weather would impact on the humanitarian work,” he said.

Responding to the proposal, Director-General of NiMet, Prof.

Mansur Bako Matazu observed that both organisations have a common goal and the convergence of providing early warning for all.

He explained that NiMet has achieved a certain level of leadership role in the continent based on the provision of climate services from co-generation to effective dissemination and getting feedback within the value chain.

Matazu revealed further that based on NiMet’s leadership role in sub Saharan Africa, the agency provides daily weather forecasts to Liberia, and Sierra Leone as part of the World Meteorological Organisation VCP programme which has been on for almost seven years to date.

“We are also implementing the WMO SOFF project, we are peer reviewing Liberia and Burkina Faso, Liberia we are doing that alone but with Burkina Faso we are peering with Spanish Met Service.

Chamber International Nigeria Holds Conference Junior Chamber International Nigeria (JCI) Southern Conference, has announced plans to hold a conference that will be hosted by JCI Festac holds between 27 – 30th April, 2023 in Lagos, Nigeria.

The conference with theme, “Now and the Future; Youth Involvement & Action for Sustainable Development,” is a unique opportunity for JCI members to come together, network and connect with one another, have deliberation to proffer sustainable solutions to the challenges affecting the development of the country, in partnership with governmental and private institutions. According to the South-West Executive Vice President, Gafar Odubote sais, “This conference is a chance for us as young people from across

the country to discuss our involvement in nation building and also to showcase the leadership and networking opportunities available within JCI”.

The South South -SouthEast Executive Vice President, Oluwatosin Ligali, added, “this is a great opportunity for JCI members to share ideas, network with other youth-led organizations, learn from one another, and build meaningful relationships that will benefit our organizations and communities.”

In her contribution, the conference chairperson, Olubukola Agbaje stated, “We at JCI Festac are proud to be the host of this epoch gathering of over 1,000 young leaders from across Nigeria and beyond. This conference is in partnership with the LSTEF,

LAWMA, LASAA, FOOD COMMODITY, ZEDGE CONSULTING, INTERNATIONAL BREWERIES, VALENCIA COLLEGE and this will be an opportunity to connect with relevant stakeholders in Government and captains of industries in the Private Sector.”

In addition, Gafar Odubote added that. “some of our confirmed speakers at the conference are Dr. Obafemi Hamzat – Deputy Governor, Lagos State, Mrs Foluso Gbadamosi, Mr. John Obidi, Mrs Kikelomo Atanda-Owo, Mrs Sandra Boulous, Mr. Sola Adeyiga, Dr. Rabiu Olowo, Mr Ibrahim Odumboni, Enioluwa Adeoluwa, Adekunle Olopade, Folagade Banks, Ms. Abimbola Okoya, Tosin Ajibade (Olori SuperGal), Mrs Titi Oshodi and many more.”

He made it known that the equipment, when delivered, would be deployed to aid civil and military aviation’s operations at designated airports and flying routes in Nigeria.

Receiving the Minister and his team, the Chief Operating Officer of CXR Networks, Mr. Marco Di Valerio said the company’s Management was happy to receive the Honourable Minister and his team, and reassured of his Company’s readiness to ensure that the project was delivered on time and in line with the terms of engagement.

Akwa Ibom State government has commended the management of Engineering Automation Technology Limited (EATECH) for investing over N35million in the rehabilitation and equipment of Biology and Chemistry laboratories of St. Mary’s Senior Science College, Abak.

This is as the Nigerian Content Development and Monitory Board (NCDMB) commended the management of the indigenous oil servicing for returning the school to its past glory where it was famous for the practicality of science learning in the 80s and mid 90s.

Commissioner for Education, Mrs. Idongesit Etiebet, who stated this at the inauguration of the laboratories in Abak, tasked other corporate organisations doing business in the state to partner the government in boosting the infrastructure and quality of teaching and learning in the state.

Etiebet, represented by Mrs. Roseline Anthony Mfon, Director, State Education Assurance Service, said education should be seen as a joint venture between public and private sector and that the state would welcome any private sector firm wiling to assist upgrade infrastructure in its public schools.

“We are very grateful for what EATECH has done in this science college and we are charging the teachers to use these laboratories to bring out the best in the students,” she said.

Zonal Coordinator, Nigerian Content Development and Monitory Board (NCDMB) for Akwa Ibom and Cross River States, Mr.

Uduak Obot said the provision of the two laboratories by EATECH was a direct response to the demands of the local content initiative of the Federal Government where local capacity development and operations in the Nigerian oil and gas sector rest squarely on knowledge-base of geo-sciences and engineering.

“In few years from now, students from this great institution, after mastering sciences as a result of this singular corporate social responsibility project by EATECH shall grow to master geo-sciences and engineering and will have gainful employment in the Nigerian oil and gas industry,” said Obot.

Managing Director/CEO of EATECH, Dr. Emmanuel Okon, while handing over the facilities to the school, said the investment was part of the company’s Corporate Social Responsibility (CSR).

He recalled visiting the two laboratories of the foremost science college in the state and finding them dilapidated, abandoned and overtaken by weeds and rodents.

He particularly flayed the situation were science students have to be shuffled through schools without the requisite laboratories for their practicals to bring them at par with their contemporaries around the world.

He said: “I graduated from the school more than 33 years ago, but during a visit two years ago, I was shocked that the foremost science college that has produced great alumni making waves within and outside the country was without functioning biology and chemistry laboratories.

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INDUSTRY

OPSN Memo to President-elect on Nigeria’s Industrialisation The Organised Private Sector of Nigeria has unveiled a document that contained its policy priorities for the incoming government on how to boost industrialisation in the country, writes Dike Onwuamaeze

T

he members of the Organised Private Sector of Nigeria (OPSN), in conjunction with the Centre for International Private Enterprise (CIPE), has outlined some policy priorities for the incoming president on how to accelerate the country’s economic development through a viral and vibrant industrial sector.

The memo, which was titled “OPSN Policy Priorities for Political Parties in Nigeria,” expressed the expectation of the OPSN that the incoming government should make the development of the industrial sector the flagship of its economic agenda for the country from May 29, 2023, and onward.

The OPSN is comprised of the Manufacturers Association of Nigeria (MAN), the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), the Nigeria Employers’ Consultative Association (NECA), the Nigeria Association of Small Scale Industries (NASSI) and the Nigeria Association of Small and Medium Enterprises (NASME).

It expressed the view that Nigeria’s industrial development is being slowed down by lack of updated philosophical direction as the country is utilising ideas that does not correspond with the empirical reality of its current economic state.

Hence, in the past two decades, the asymmetry in governance has the Nigerian economy fraught with a litany of challenges. Thenceforth, economic activities, industrial and non-industrial operations, have grossly been depressed. This accounted for the lingering poor performances of macro and socio-economic indicators in the country, which has seen the Gross Domestic Product, exchange rate, interest and inflation rates, industrial and manufacturing production, per capita GDP, unemployment and youth unemployment, poverty and many more degenerating.

The corollary is that country is currently running a system of rigged prosperity, which cannot support the eradication of poverty. The OPSN, therefore, said that “in the light of this, we succinctly present field-based observations of the core challenges of industries in the country at the moment.

“We are sanguine that addressing these challenges will in no small manner trigger significant activities in the industries and propel the economy to recovery and sustained growth.

“The OPSN believes that come May 29, 2023, the new dispensation of government will provide the opportunity to address and redress these challenges through reshaped economic policies and implementation, so as to swiftly rekindle and improve productivity in the economy.”b It stated that growing the non-oil sector should be the heartbeat of any industrial economy.

It argued that no economy could attain any meaningful industrialisation without a vibrant industrial sector because the real sector is synonymous to greater job creation for the unemployed and wealth creation for wellbeing of the populace.

Consequently, the OPSN is full of expectations that the new government will support the development of the industries as the flagship of its new economic agenda from May 29, 2023. This is no doubt, critical in achieving the longstanding collective industrialisation aspiration of our dear country.

OPSN’S POLICY PRIORITIES Top on the priorities of the OPSN is improved electricity supply to the industrial sector: It stated that this could be addressed by government’s commitment “to up scaling electricity generation by at least 10,000MW annually,” by following the example of Egypt that built 10000MW within two years. It also encouraged the government to further investment in electricity value chain that comprised of generation, transmission and distribution and to “sustain the eligible customer initiative to improve electricity supplied to the manufacturing sector; embrace and support significant development of energy mix and renewables by appropriating the country huge potentials for solar and wind energy sources” It urged the government to “allow gas to be supplied to domestic users including manufacturers at international export price plus $1.” It suggested that $3.2+$1 rather than the current $8.76 per cubic metre.

According to the OPSN, “it is the government’s responsibility to ensure that Nigeria generates enough electricity, to provide the private sector with tools needed for innovation, production, entrepreneurship and value addition for national development.”

It said that factories in the country have persistently contended with inadequate electricity supply, high electricity tariff, and the huge outlay for providing alternative energy. “The share of energy to total cost of production in the industries is about 40 per cent, which contributes to the high cost of production, high community prices and low competitiveness of the Nigerian industrial sector,” the OPSN said.

The OPSN also tasked the government to identify and develop the country’s economic philosophy, saying that “it is imperative that we identify and understand our economic philosophy. Funding is not the issue but designing the right policy with proper implementation and monitoring, for desired expectation. It is important to note, that incentives provided by politics does not align with the promotion of businesses.”

The OPSN also harped on the need to stabilizing the economy through strategies that would reduce the high rate of inflation, to at least a single digit, address foreign exchange misalignment, promote equality, create a friendly enabling environment, and improve human capital development, whilst targeting increased productivity.

It also advised the government to ensure that economic decisions are data driven, which is currently lacking in the management process of the economy.

It also made a case for inclusiveness in policy design, implementation and monitoring. This argument is based on the assumption that the private sector “is arguably the backbone for revenue generation towards the effective operation of a viable economy. It is therefore, imperative to include the organised private sector in all economic-related decisions of the various arms and tiers of government” in the country.

It added that, “inconsistency of our policies does not promote development in any way.

There is a need for synergy between the fiscal, monetary, and trade policies.”

PROMOTING ECONOMIC GROWTH The OPSN also tasked the incoming government on deliberate promotion of economic growth. It said that, “an active promotion of economic growth, namely infrastructural investments and industrial policy will enhance and compliment the human capital investment. However, if not done, it may lead to private sector capture” in a manner that would be equivalent to the ongoing brain drain in the health and education sectors.

The OPSN also called for the Development of outward-oriented development strategies that could encourage export of manufactured goods. “It has become evident that outwardoriented development strategies are superior to nationalistic and dissociative economic strategies. The experiences of the classic (Northeast Asian) developmental states have also confirmed the benefits of an outwardoriented development strategy for long-term economic growth and development.”

Furthermore, the OPSN called for a structural reform of fiscal and monetary policies for the sake of promoting the growth of enterprise in the country. It emphasised a need for structural reform of the fiscal system to achieve a prosperous future, which should include tax harmonisation, clarification of taxing rights vis-à-vis fiscal federalism, setting the right tone and improving tax culture, an integrated revenue optimisation, expenditure efficiency; policy on national debt restructuring and management, to reduce high debt cost (debt servicing).

It pointedly tasked the incoming government to address inadequate supply of foreign exchange to the productive sector, especially manufacturers. It demanded the granting of “concessional foreign exchange allocation at the official foreign exchange market to industries for importation of productive inputs that are not locally available.” It also called for a clear foreign exchange policy that would spur supply through various sources and perpetuate rate convergence through the market forces and rather than by the Central Bank of Nigeria’s (CBN) fiat.

The OPSN also made a case for improved access to long term funding for manufacturers through setting up a monitoring and evaluation platform with private sector representatives to oversee the allocation of fund for the industries.

These will include providing a credit guarantee scheme for industrial loans from commercial banks; the creation of development funding windows for Small and Medium Enterprises (SMEs) with liberal conditionality.

NEED FOR COMPETITION The OPSN also highlighted the importance of encouraging more competition in the Nigerian economy and warned that “market practices

that avoid monopolies will open up our economy to function appropriately. There should be more competition across all levels of production.”

It also advocated for the development of end-goal strategy that would help Nigeria in designing the right policy, sustaining economic growth and low inflation rate must be maintained.

It added that government should take deliberate and urgent steps to engender conducive and enabling business environment for businesses.

“In the first place, government should undertake a comprehensive review of policies and initiatives for enterprise growth and development. There is a need for a collaborative approach to policy development. A medium to long term integrated policy development framework should be undertaken in order to ensure that polices are integrated,” it said.

Furthermore, the OPSN called for development of political entrepreneurship approach in the civil service. It argued that for a “nation like ours, we must ensure we have a meritocratic civil service of highly trained and motivated individuals who must work with the private sector and take responsibility for selling the products of the country.

“We also need the political elites who are ready to form a consensus such that the system will not be opened to elite capture or the capture of vested interest.

“Enact a bill to give legislative backing to the Nigerian Codes of Corporate Governance 2018 and set up implementation lab to evaluate impact of the NCCG 2018. Develop policy on mandatory corporate governance reporting by all federal MDAs.” It also urged for development of sound, unbiased, non-monopolistic backward integration policy that should guarantee truly free markets. This can have positive effect in terms of stimulating economic development; promoting the development of local industries, creating economic linkages, building local capacity, capabilities and technologies; developing skills within the workforce.

It would also boost employment, and minimise capital flight as “greater use of local content and more extensive backward linkages can also help Nigeria avoid the resource curse.”

The OPSN also tasked the incoming administration on patronage of Made in Nigeria goods and local content development. It said that the Executive Orders 003 and 005 on patronage of made in Nigeria goods and development of local content are critical policies that would drive higher level of industrial production if well implemented.

However, it is important to ensure that Ministries, Departments and Agencies of government are persuaded to mandate and strictly prioritise made in Nigeria items in all their purchases and contracts.

“Industry players believe that there are some sectors where it makes a lot of sense to deepen backward integration. There are others where it is not appropriate. Having a blanket policy that applies to all is not realistic. Backward integration policies must be nuanced by the circumstances of the sector.

“There must be cost-benefits analysis. In practical terms, this means that, after the various investments have been made, the level of costs should be lower than the cost of importing. If they are not, it does not make sense to do backward integration.”

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T H I S D AY ˾ MONDAY, APRIL 10, 2023

HOMES&DESIGN

Tarino Towers’ Thrilling Transformation to Exquisite Residential Highrise Tarino Towers, a grand facility that regenerated from a hotel, was rendered by CCP, a real estate firm, on Alfred Rewane Road (former Kingsway), a street lined with star property, Bennett Oghifo writes

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arino Towers is a residential tower within the prime precinct of the star-propertylined Alfred Rewane (Kingsway) Road Ikoyi. It was developed by CCP, a real estate consultancy firm, as a refurbishment and extension to the old 104 key Azikiwe Hotel Block to a residential tower, the firm said on its website.

This involved seamlessly integrating a new 17-storey tower into the old hotel tower. The residential tower comprises 26 luxury apartments, maisonettes, and a block of 28-room boys’ quarters. They are complemented with recreational

facilities such as a sauna, spa, resident lounge, gym, swimming pool and an outdoor bar on a site of about 4,000sqm. The project, completed in November 2011, has a feature-coloured ‘spine’ that seems to emanate from its entrance canopy and runs through the building, while the strategic integration of the air conditioning screens to its glazed balustrade enhances the elegant and strong elemental facade that is quintessentially CCP. With over 25 years of experience in the Nigerian and African environment, CCP offers professional

architectural design, engineering, project management and quantity surveying consultancy services.

“We have executed projects of excellent value and professional acclaim in most major cities of Nigeria – from private residences to shopping malls; from multi-storey residential blocks to 500-unit housing estates – cutting across the residential, commercial, institutional, hospitality and Industrial sectors,” a statement on the company’s website said.

CCP’s quality policy is designed “to consistently deliver professional consultancy services in the built

environment that aligns with the strategic direction of the organisation and meets the needs of our interested parties.”

It plans to achieve this through effective implementation and continual improvement of a quality management system that fully complies with the requirements of ISO 9001:2015 standards, active customer engagement, deploying a highly competent and dedicated workforce, and using technology while complying with all applicable statutory and regulatory requirements.

“This quality policy is the framework for establishing and reviewing our quality objectives,” stated CCP.

MoNDay, april 10, 2023 • T H I S D AY

34

BusinessSpecial

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

Uzoma Dozie: Digital Financial Services Are Cheaper, Help in Improving Lives of Citizens Well known as a promoter of financial inclusion and digital banking, Mr. Uzoma Dozie is the Founder and chief executive of Sparkle, a digital-powered microfinance bank. in this interview, he speaks about the opportunities the recent aggressive drive towards cashless policy created for his company, its plans for the future and the need for Nigerians to embrace digital financial services. Obinna Chima brings the excerpts: What is your take on the Central Bank of Nigeria’s recent attempt to enforce the cashless policy by limiting the amount of cash in the economy? he overall idea of what the Central Bank of Nigeria (CBN) is trying to do is to help engender economic growth. By reducing cash, you are trying to reduce the cost of transactions and also make it more secured to do transactions. People have been used to moving cash about and here, you are trying to make them have less of cash, which is safer, more secured and more experiential. Nigeria has a financial inclusion agenda and digital solutions would help the country achieve it. They always say cash is king, but during the lockdown when cash couldn’t move, we saw that people were stranded because they couldn’t do transactions. Clearly, cash has limitations of what it can do and if we continue to use cash, we wouldn’t be able to scale and we wouldn’t be able to reach the bottom of the pyramid and we wouldn’t be able to scale in terms of even lending money to people.

The thing about cashless is that when you are using digital financial inclusion, you are able to capture a lot of information. If I know more about the people and what they are doing, then I can lend more to them even without looking at their statement. That is the issue. Now, why hasn’t it been successful as it should be? You must understand that there are some bottlenecks that need to be resolved. The first is infrastructure. Secondly, education. Education is a big part because if people don’t understand how to use technology or what the benefits are, it becomes a challenge. The third one is affordability. Nigeria is probably one of the poorest countries in the world and has the highest number of poor people in the world.

So, if you cannot afford a digital phone or internet, how are you going to transact? Even the whole idea of identity is an issue. How are you going to identify people? So, we have to tackle those things if we are going to scale. But do we have any other choice other than digital financial inclusion? No, we don’t, and that is where the world is going to. So, we have to focus on digital enablement and ensure that even the poorest has a tool that can access and also connect with society. It is probably cheaper for me to give someone a phone than to take you to different parts of Nigeria.

So, we must build that infrastructure to make sure that there is internet connectivity everywhere, and also the devices and tools to connect are available. Believe me, going cashless is much cheaper, transparent and digital also gives better information on how to allocate resources effectively to improve the lives of the citizens.

the vision of the people you choose as leaders.

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But some have argued that the severe cash crunch experience was as a result of implementing the cashless policy and the naira redesign same time?

I would say, the ideas were fantastic. But then again, the transition should have been better. There were many things happening at the same time, which made the implementation difficult. But, I think they have sown the seeds in people’s mind that there is an alternative. One thing that has helped organisations like ours is disruption. There is no progress without disruption. When you look at the COVID-19 and the global lockdown, where people couldn’t move cash, it created awareness on the need for alternative banking channels. COVID-19 created awareness of alternative banking channels, which lockdown created appreciation of these channels. People knew about digital, but the lockdown forced them to adopt digital platforms.

The naira redesign and cash limit policy could have been done better so that both policies would co-exist. Secondly, there is also the need for more digital liquidity. Digital liquidity is the ability for me to go to the person selling corn on the streets and be able to use QR Code for payment and other digital platforms effectively. For the institutions, they must also have the right infrastructure and the up-time must be much higher. Just like during COVID-19 when everyone moved from physical to digital, there was no capacity and this was what we saw during the recent enforcement of cashless. We saw a surge and some of the banks couldn’t cope with that.

But the surge in transactions and the inability of the traditional banks to meet customers’ demand created opportunities for digital banks like yours?

Yes, there was increased awareness, appreciation and adoption of our services. The first thing the situation did was that, it created awareness as people were looking for other options. Although we had been

Dozie doing digital marketing, the cash crunch created more awareness and visibility for us. And when people try it, the experience and speed gave them confidence. So, adoption was very high. Since we started, we have had close to one million downloads.

Some people would just download and keep on their phones without activating it. So, with the cash crunch, a lot of such persons started using the app. We also saw people who had opened accounts, but were not using it, started using those accounts. Our transactions volume moved from over 12,000 daily to over 20,000 daily and in terms of value, we now do over N400 million daily.

And you know word of mouth is quite strong and so people who have experienced our service, now tell others about us. Fortunately for us, we had gone through a system upgrade which was meant to increase capacity. So, we didn’t get caught up in the capacity issue as accounts were working and transactions were going smoothly during that period of surge. It also helped in validating that digital is here to say.

Also, another thing for us which is very key is that there were no issues of fraud. Cyber threat is one of those things that people are scared of with digital organisations. We made sure that we developed a trusted organisation before we went out marketing our bank so that anybody who uses Sparkle feels safe that their transactions and data privacy are well protected.

Nigeria recently had a general election. Do you think the country is ripe for electronic voting, a situation whereby technology would be used from the beginning of the process to the end?

So, with biometrics, the probability of fraud is eliminated significantly, which is very important.

But, where you are going to find challenge is in the area of infrastructure. The person in the rural communities where there is no internet connectivity, how will he be able to vote if he doesn’t have mobile phone? Are there centres where people can go and vote conveniently? How far does he need to travel to use internet connection to vote?

How can they do it with less pressure? If all these are put in place, the cost of election would reduce drastically and people would find it difficult to rig and also prevent people from being targeted and attacked. Also, you would have visibility as you are able to see the votes as they are being cast.

I believe that a time would come for electronic voting with the right infrastructure. We need that digital leadership and we need people that understand the capabilities and the power of what technology can do and you can see that happening in many countries of the world. How you deploy technology is going to depend on

Sparkle is three years in operation, what has been the experience so far for you, moving from a traditional banking system to running a digital bank?

Personally, I would say that it has been an education because working in a traditional bank and moving to a digital bank is completely different. I think the transition was easier and interesting for me because when I was at Diamond Bank, we built a retail platform and in doing that, we had to work with fintechs.

So, I understood the digital ecosystem. So, I moved from a traditional banking system to a hybrid traditional system and now digital. So, it was an education for me. We started just around the time of COVID-19, from working 9am to 5pm daily to remote working and now, we are in hybrid stage where people are working from different parts of the world.

The world of work has completely changed.

Today, I understand better the power of small businesses in Nigeria. When you are working in a traditional bank, I think you are beclouded by a lot of corporates and big businesses. But now, we are working in a space whereby you have to attend to the needs of millions of individuals and millions of entrepreneurs and small businesses. So, that whole work ethics is completely different and how you deal with that is completely different.

Another thing is the entrepreneurial journey.

As a chief executive officer at Diamond Bank, I had all the resources at my beck and call, but as an entrepreneur, you have to learn human resources, technology, marketing and development, compliance and how to deal with the regulator from a different perspective.

Commercial banking and microfinance banking are two different things, although they do almost the same thing. For me, now, I have a better understanding of building technology and businesses. As an entrepreneur, there is a limit of the risk you can take and your capital is limited. With my experience in traditional banking, I am able to take the good things and drop the bad things. So, here, we built our own banking application and we understand that small businesses are key to financial inclusion. We have created platforms that address challenges of small businesses. Today, with Sparkle, small businesses can open a bank account without actually going to the bank. With Sparkle, they are able to access services such as payroll, inventory management, taxation and we were able to do that by first of all understanding the customers journey and also understanding how banking works and how we can leverage technology to do that. Sparkle is a lifestyle banking platform, so whether it is making decision for your business or health, information is very key. With that, we have created a platform that gives you information about everything.

Why do you think people should bank with Sparkle, what are your unique selling points?

I know the strength of Sparkle and I also know the strength of all the commercial banks in the country today. One of the biggest strength of the traditional banks is trust. Customers trust them because they have been around for a long time, they have gone through several economic cycles, they have capital and they can absorb shocks in the economy and some of them are also adapting to the new ways. But, they have legacy thinking unfortunately. Even from a digital perspective, the digital leadership required is not as advanced as that of Sparkle. I will tell you that I live through my mobile app. I don’t have a secretary, I don’t have a personal assistant, I don’t write cheques, I do all these digitally. So, I have to make sure

that my solutions are able to help me do whatever I want and also for Sparkle customers. Show me a traditional bank CEO that does 50 per cent of his transactions by himself through digital solutions. It may be difficult to find. Secondly, Sparkle is very easy to use and the app is user-friendly. People don’t change unless they are compelled to and disruptive situation compel people to change. So, we built the Sparkle app around what people do. Today, if you go to traditional banks, you are categorised as either savings or current account customer, but with Sparkle you only have one account and we offer customised products. That is very difficult in traditional banking.

We serve our customers in whatever way they want to be served, with no additional cost, but if you go to a traditional bank, you would be charged for those services. Our app was built around how Nigerians are and what they are and as their lifestyle change, we respond. We built the app, so we don’t have to rely on a third party to help us respond to changes in customers’ behavior. So, there are many reasons why Sparkle is the bank for everyone and some of them are access information for better decisions, freedom to do your transactions anywhere and also it was built for the millennials. The Gen Z’s of today want you to come to them, they want customised services and they don’t want to pay for it. These are all what we are offering at Sparkle.

Are there plans to upgrade Sparkle from a microfinance bank to commercial bank in the future?

The regulatory environment is changing and one thing I can say about the CBN is that it is a progressive organisation. When I think of the interactions with different regulators in Africa and some parts of the world, I will say the CBN is quite progressive. When you think of the Know-YourCustomers (KYC) initiative, the eNaira, tokenisation of cards, open banking, the national card scheme, and several others. So, it is now left to us to take advantage of them. We should be able to do much more for our customers, and to do that, we need a bigger licence. If the licensing regime today does not change, then we would definitely go for a commercial banking licence someday. Financial system stability is dependent on the players in the market. You are only as strong as your weakest link.

Today, I have a microfinance banking licence and I am a digital bank, but if I don’t adequately put the governance structure, the cyber-security and if something happens in a digital bank, it might affect the entire system. So, for us, it is about making sure that the total system is safe. You also don’t want a situation whereby you get a licence that you are underutilising. If we have a commercial licence, we are not going to have branches and the only thing we are going to use capital for is technology.

So, what would you consider as Sparkle’s biggest stories in the past three years?

Firstly, the fact that people know about Sparkle is a big achievement because when I think of the people that we started with, a lot of them are no longer in business. The CBN few days ago came out with a list of microfinance institutions that are digital banks and we were one of them. Secondly, we are the only platform that has an end-to-end solution for small businesses and we have been able to do that successfully. Our brand is getting stronger and we have raised money from the market and we are about to do another capital raising.

Now that we have established the brand, it is now time to allocate money in creating more awareness because we are not as visible as we are. So, we are looking at raising about $5 million. At Sparkle, we leverage on technology. Here, the people behind the organisation have always been less than 40 persons, compared to our competitors.

We use systems for procedural things and one of the areas we are very excited about is artificial intelligence.

In fact, we have invested a lot on digital science and we have a fantastic team helping us create more exciting products for our customers. The future of banking is going to be chat-based and we are positioned for that. As we go into a new government and a new dispensation whereby we have to energise the economy, the engine of any economy are the small businesses. We are positioned to help those businesses by providing a platform for them to obtain loans. We are going to be lending to them at a price they can afford and responsibly.

T H I S D AY ˾ MONDAY, APRIL 10, 2023

35

BUSINESS SPECIAL

ANALYSIS

Increasing Appetite for Digital Payment Options James Emejo writes that the cashless policy may have recorded some drawbacks in its implementation, but the increasing patronage of digital/electronic payment channels has created a new-found love in the country’s payment landscape and necessitated the need to boost infrastructure to further engender confidence.

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o doubt, the implementation of the currency redesign and cash withdrawal policies of the Central Bank of Nigeria (CBN) has had some challenges following the pushback by politicians leading to the legal tussle at the Supreme Court, one of the objectives of the scheme – to embrace the use of electronic payment channels from cash and other transactions is on course.

Analysts believed that though the policies are desirable in order to modernise the country’s payment system in line with global trend as well as make monetary policy decisions more effective among others, the implementation of the initiatives especially during the election period appeared to be one of its shortcomings.

The election year was normally characterised by cash spending and politicians mopped up the bulk of the new naira banknotes released by the central bank from the commercial banks for election activities – a development which resulted to scarcity of the banknotes for the majority of Nigerians to access.

The CBN had introduced revised cash withdrawal limits in banks and other financial institutions following its recent currency redesign project, restricting the maximum cash withdrawal over the counter (OTC) by individuals and corporate organisations per week to N500,000 and N5 million respectively.

that he now preferred cash transfers because of the ease and the fact that it enables him to gather and save his income on a daily basis, adding that it has also prevented him from unnecessary spendings.

ENAIRA PATRONAGE ON THE INCREASE

CHALLENGES

One of the challenges that limited the cashless policy was the inability of Nigerians to use the online and other electronic payment channels successfully for payment transactions largely due to the large volume of processing that overwhelmed the payment infrastructure in banks.

Following the implementation of the cashless policy, most Nigerians across the country were unable to carry out banking transaction because of failure of networks as most transactions were truncated along the line.

However, as pointed out recently by the CBN Governor, Mr. Godwin Emefiele, who apologised for the hardship encountered by Nigerians following the full commencement of the policies during to network challenges, the apex bank is currently working with the banks to boost the available payment infrastructure going forward.

POSITIVE TREND IN DIGITAL PAYMENT

According to projections, Nigeria’s digital payments transactions value is expected to reach $16.69 billion in 2023.

Total transaction value is expected to show an annual growth rate (CAGR 2023-2027) of 13.70 per cent resulting in a projected total amount of $27.89billion by 2027.

The market’s largest segment remained the digital commerce with a projected total transaction value of $14.48 billion in 2023.

Emefiele

SOARING PATRONAGE FOR DIGITAL PAYMENTS

In spite of the challenges and controversies around the legality or illegality of the old N500 and N1,000 notes as a legal tender, Nigerians have continued to embrace the use of digital channels to carry out transactions.

The latest figures released by the Nigeria Inter-Bank Settlement System (NIBSS) revealed that the use of electronic payment (e-Payment) channels is on the increased as the volume of transaction through this medium surged to the highest in 5-years of N5.2 billion in 2022 from the N729.2million in 2018 representing a 613.1 per cent rise.

The exponential increase in transactions conducted via electronic channels is testament to the innovative value propositions offered by products and services in the country’s payments landscape.

Also, following the implementation of the cashless programme, many petty traders have become used to the use of electronic channels of transactions.

A car wash operator recently told this reporter

The Central Bank Digital Currency (CBDC) eNaira, which represents one of these e-Payment channels had sustained consistent growth over time in adoption, transaction volumes, and value amidst the currency redesign policy action and revised cash transaction limits. eNaira’s acceptability continues to spread, as evidenced by mass adoption by a number of associations cutting across, government, academic and transportation sectors. Its acceptability sprawled down to the industrious and ancient city of Kano, where the Keke Napep Association has fully embraced the use of Africa’s first Central Bank Digital Currency, eNaira as a means of payment for transport fare.

The eNaira Quick Response (QR) code could be boldly seen at the back of Keke Napep across the town.

Emefiele recently disclosed that N22 billion had been recorded in eNaira transactions representing 68 per cent increase since the beginning of the year, out of which N10 billion had been minted and N3.42 billion currently in circulation.

He said, “So I will say that we have seen good progress in the adoption of eNaira. We’re happy that as we move more and more towards financial inclusion and get people away from being excluded from the financial system, eNaira remains one portable option for you to adopt.”

ADOPTION AMONG PEDESTRIANS

One of the Keke Napep drivers identified as Aminu revealed that the eNaira had helped resolve persistent challenges around ‘change’ which usually arose when commuters settle their transport fare using high denomination banknotes.

According to the CBN, the eNaira QR code had been specially programmed for commercial tricycle operators to feature the flat fee of N100 common on most routes, hence the passenger simply scans the code and makes the payment for the fare into the eNaira wallet of the driver.

Aminu further stated that commuters without internet-enabled phones typically take advantage of the eNaira Unstructured Supplementary Service Data (USSD) code ‘*997#’ to make payments, which allows for quick transaction completion turnaround time of one minute on the average.

He further stated that a significant driver of adoption is the absence of transaction charges on the eNaira platform, alongside the reliability

and convenience it provides for receiving and saving funds.

According to the data from NIBBS, there had been a 142 per cent increment in mobile transfer transactions at a total of N19.4 trillion in 2022, relative to N8 trillion in 2021.

Furthermore, it is likely that the volume/value of transactions settled via electronic channels will maintain the observed upward trend, particularly taking into account the revised cash withdrawal limits which came into effect January 9, 2023.

However, the sustained advocacy and awareness on the functionality and advantages of the eNaira, such as an absence of charges and a 50 per cent reduction on the Merchant Service Charge (MSC) for merchants, more Nigerians will join the eNaira bandwagon, making it the channel of choice for their daily transaction needs.

However, analysts believed that for the digital payment to sustain its current growth trajectory, the infrastructure and networks must be greatly improved.

The CBN governor had admitted challenges faced by bank customers following the limit on cash withdrawals and apologised for the deluge of online transaction failures in the country, and further assured that efforts were ongoing to improve the outcome going forward.

He said, “I must apologise. Yes, online channels fail. But no doubt it is as a result of the deluge of online transactions that hit the banking industry.

But it is being resolved.

“On a daily basis, our Payment System Management Department monitor the online payment platforms so as to make sure that when there is a downtime, they are quickly resolved so that transactions can go on smoothly.”

According to data from the National Bureau of Statistics (NBS), a total volume of 3,464,811,083 transactions worth N356.47 trillion was recorded on electronic payment channels in the fourth quarter of 2020 (Q4 2020).

The performance was dominated by online transfers with over 2.23 billion in volume of transactions valued at N120.27 trillion in the review period while transactions using Automated Teller Machine (ATM) amounted to N4.54 trillion.

Point of Sale (PoS) transactions amounted to N1.52 trillion or 25.49 per cent increase over the preceding quarter.

Also, National Electronic Funds Transfer (NEFT) transfers stood at N96.08 trillion while Real Time Gross Settlement (RTGS) transfer was valued at N112.99 trillion as well as the Unstructured Supplementary Service Data (USSD) transfers of N1.63 trillion in the review period.

According to the NBS, mobile apps transfers (not mobile money), amounted to N9.91 trillion while direct debits stood at N500 billion as well as transactions by Mobile Money Operators (MMOs) which stood at N4.82 trillion.

Bridging The Payment System Gap Kelvin Gilbert

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he cashless policy of the Central Bank of Nigeria (CBN), when introduced, was heralded as capable of giving a boost to the desire to ease business activities in the country especially with relation to payment for goods and services.

The policy, a novelty when it was introduced, was designed as a means of encouraging the use of electronic modules in banking and other financial transactions as well as services with particular reference to the informal sector, some component of which is, even now, underbanked.

Without doubt, the policy was seen as a welcome development that has helped enhance payment for transactions that otherwise would have required the deployment of huge cash with all the attendant inconveniences and risks.

With all the inherent positives, still there existed room for expansion in the system to ensure a thriving and competitive payments landscape in Nigeria. It is to fill this gap that, in addition to already existing payment systems, the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, acting in collaboration with Nigeria Inter Bank Settlement Systems (NIBSS) Plc, introduced National Domestic Card scheme, Afrigopay. Experts rightly posit that the aim of this scheme is to conserve the nation’s foreign reserves. With it, the nation’s financial system will only pay dollars for charges on transactions that are done with domestic or foreign cards outside Nigeria.

Without doubt, the national domestic card scheme is a momentous development for a number of reasons, not in the least, the data sovereignty it confers as well as cost savings for the industry. Primarily, the promoters of the payment system and, in particular, the CBN stress that its introduction and effective implementation will herald new vistas of opportunities for the card business that several countries continue to recognize and leverage as they create their own domestic card schemes to augment existing foreign payment card instruments.

The CBN chief is certain that the payment system has the potentials to be an important platform for further innovation to solve some of the most pressing issues around financial inclusion, Small and Medium Enterprises (SMEs) payments and trade facilitation. From this perspective, the system will also support the drive for a robust digital economy for the Nigerian market, the African continent and the world.

Attained through a robust industry engagement and collaboration, the Nigerian Banking Community has, through it, risen to the challenge of further strengthening the national payments system through the implementation of a Domestic Card Scheme.

It is important to point out that while the penetration of card payments in Nigeria has grown tremendously over the years, many Nigerians are still excluded based on some challenges that have limited their inclusion in the financial system.

These inhibitions have remained for a long time

and they include the high cost of card services as a result of foreign exchange requirements of international card schemes and the fact that existing card products do not address local peculiarities of the Nigerian market.

Similarly, given the limited usage of cards by Nigerians and in a bid to deepen penetration, the CBN in the pursuit of its monetary policy role in the economy is audaciously promoting the National domestic card scheme which will be accessible to all Nigerians and also address other local peculiarities. This particular scheme, Emefiele stressed is, therefore, expected to be an important plug in the gap that has remained yawning since the cash-less policy was introduced.

It is important to recognize and commend the forward-looking propensities of the CBN governor especially his commitment to designing policies that accord with international best practices. The establishment of national domestic card schemes, without doubt, is in line with global trends for which posterity will owe him some gratitude.

The CBN, on his watch, through this policy initiative has registered Nigeria in the international club of card schemes. Nigeria is, therefore, joining countries like China, Russia, Turkey and India that have launched domestic card schemes and harnessed the transformative benefits for their respective payments and financial systems, particularly for the underbanked.

This effort, it is pertinent to emphasise, is not a quest to prevent international service providers

from continuing to provide services in Nigeria.

Rather, it is aimed at providing more options for domestic consumers while at the same time promoting the delivery of services in a more innovative, cost effective and competitive manner.

It is an established fact that the Nigerian market is vast, and the current participants have done so much in the last 12 years to transform the ecosystem. Yet, there is much ground to be covered as millions of Nigerians are without payment cards to consummate transactions.

In the thinking of the CBN and the other promoters of this scheme, it will be unfair to continue to neglect the vast majority of Nigerians whose daily payments needs are micro in nature.

To that extent, there is an imperative need to capture them in national statistics to further understand their transaction dynamics and properly target interventions in that sector of the economy.

The National Domestic Card Scheme is an idea which time has come. Analysts are hopeful that it will provide opportunities for the economy to integrate the informal segment of the economy, reduce shadow banking, bring more Nigerians into the formal financial services net with attendant diversification of deposit portfolio which will further strengthen the stability of the banking industry.

Like every Emefiele policy, this, too, will prove to be a game-changer that will touch on all the sectors of the economy in a positive way. t (JMCFSU BO FDPOPNJTU XSPUF GSPN -BHPT

36

MONDAY, APRIL 10, 2023˾ T H I S D AY

BUSINESS/MONEYGUIDE

Marketers: N1.2bn Tyre Market Threatened by Substandard Imports

Gilbert Ekugbe

The president, Association of Nigeria Tyre Marketers, Issa Muhammed, has lamented over the illicit trade by foreigners exporting fake and substandard tyres into the country, noting that the move is threatening the nation’s over N1.2 billion tyre market.

Faulting the federal government’s inconsistent and unprotective policies, Muhammed said foreigners are taking advantage of the country’s weak regulatory framework to bring in substandard tyres with no economic value, calling on the urgent need to checkmate the anomaly.

Speaking on the sidelines of a one day sensitisation programme organised by Standards Organisation of Nigeria (SON) tagged, “Vehicle tyres, quality and management for effectiveness via standardization,” urged the federal government to rejig the regulatory framework to

combat illegal operations of both local and foreign investors “These foreign investors must know their limitations in the country. It is only in Nigeria that a foreigner will come and start controlling the system.

They have almost pushed out the local genuine importers out of business. The best thing the federal government can a do for them is to encourage these foreigners to set up their tyre manufacturing plants in the country that would lead to job and wealth creation for the nation. SON will also be able to monitor their activities seamlessly and everything will be done according to the Nigerian standard.”

“When we had Michelin and Dunlop, we did not complain about standards, we have raw materials that they can source locally, they can establish locally and not send anything that they cannot use down to Nigeria because our people want to make money at the expense of the

live of unsuspecting Nigerian consumers,”he bemoaned.

He however, stated that his association is strengthening its collaborations with SON to address the influx of fake and substandard tyres into the Nigerian markets.

The Director General, SON, Mallam Farouk Salim, explained that under his watch, he has made it clear in all departments of the standards body to expedite regulatory actions on substandard imports into the country.

“All second hand tyres are not allowed as they are automatically qualified for seizures and destruction and whenever we see them, we will do just that. This sensitisation programme will be repeated everywhere nationwide. We have nine department spread nationwide for better coverage.

We have more than 40 State offices nationwide directed to conduct the same sensitisation to reduce fatality on our roads,” he stated

NEPC Trains 100 Farmers on Yam Exporting Techniques in Nasarawa Igbawase Ukumba ÓØ ËʨË The Nigeria Export Promotion Council (NEPC) yesterday trained 100 farmers of Jenkwe in Obi Local Government Area of Nasarawa State on yam exporting techniques.

The Coordinator of Lafia Smart Office of the NEPC, Amina Abdullahi Tumba, declared the One-day Sensitisation Training Workshop opened at Agyaragu, headquarters of Jenkwe Development Area.

Speaking at the training, the Lafia Office NEPC Coordinator,

said the training was tagged at farmers in Nasarawa State to enable the state lead in yam production in the country, maintaining that the state has comparative advantage and good climate for the produce.

Tumba then appealed to the participants to put the lesson learned during the training into practice to improve on their yam production techniques.

In a paper presentation, an agricultural expert, William Akaamaa, called on farmers in the state to always consult experts in order to boost yam production that would be ac-

ceptable in the International Market.

On his part, State Director of NAFDAC, Babatunji Omoyeri, who spoke on the importance of marketing agricultural products to the international community, said farmers should assure they follow all export regulations to avoid rejection of their yams by the buyers when exporting.

In a remark, State Commissioner of Agriculture and Water Resources, Nuhu Ibrahim Oshafu, thanked the NEPC for the sensitisation training workshop which focused on yam farmers in the state.

FG Graduates 3,300 N-Knowledge Trainees on Animation, Scriptwriting Olawale Ajimotokan ÓØ ÌßÔË The federal government has completed the training and certification of 3,300 beneficiaries of the N-Knowledge expansion training programme in the six geo-political zones of the country on N-Creative training programmes with focus on animation and scriptwriting.

The training held at the Public Service Institute of Nigeria (PSIN), Abuja, was a non-graduate programme that also embodied the N-Tech Hardware and N-Tech Software.

Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq Umar,

said the programme would help the young Nigerians acquire and develop life-long skills that would ensure they become solution providers and entrepreneurs in their communities.

The minister said the enrolees learnt the core components of the programme in the respective tracks, in well-organized curricula meant to shape them in their chosen trades to enable them become useful and develop competencies that will increase production and add to the overall growth of the society.

“You will confirm by now that N-Knowledge programme is focused on equipping young

Nigerians with relevant skills and certification to become competent workers, innovators and entrepreneurs prepared for both the domestic and global digital job market.

N-Knowledge programme targets to upskill 3,300 young Nigerians on the global radar as exporters of world- class services and content in the creative and information technology sectors,” Farouq Umar said.

She said the federal government documented evidence what a lot of beneficiaries came out with at the different training camps such as developing cartoon applications and other creative arts.

TECNO Launches PhantomV Fold Smartphone in Nigeria Emma Okonji

TECNO has launched its first foldable smartphone device in Nigeria, called the Phantom V Fold, which comes with lots of tech innovations that will enhance customer experience.

The smartphone launch, which took place in Lagos last week, was designed to be the ultimate game changer in the smartphone industry, with dazzling displays of

innovations. The launch attracted celebrities and industry titans who explored the Phantom V Fold’s capabilities first-hand.

Speaking about the features of the device, its Marketing Manager, Attai Oguche, said: “Once you unfold the device, you will be greeted by a stunningly expansive 7.85-inch primary display perfect for immersive gaming and productivity.

The Phantom V Fold’s

large battery can keep you powered up for hours. This revolutionary device will make waves in the world of mobile technology.”

Oguche took the audience through the essentials of the new device, and one thing that caught the attention of the audience was the fact that the new Phantom V Fold could be folded about 200,000 times, and there will be no crease, unlike the other devices in the same category.

L-R: Executive Vice President - Southwest, Junior Chamber International (JCI) Nigeria, Gafar Odubote; President JCI Nigeria, Abdullahi Attairu; JCI President, Viktor Òmarsson and Immediate Past Senate Chair, JCI Nigeria, Nneka Itabor during the launch of the SEnD Initiative at the JCI Nigeria Southwest Area Council of Presidents (ACOP) Meeting in Abeokuta, Ogun State...recently

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).

37

T H I S D AY ˾MONDAY, APRIL 10, 2023

MARKET NEWS

Stock Market Down N675bn on Profit-taking in Airtel Africa Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) continued its decline for the fourth consecutive week as massive sell-offs in Airtel Africa Plc heaped down performance in the market.

The profit-taking led to market capitalisation dropping by N675 billion to N28.869 trillion as the NGX All-Share Index plummet by 2.28 per cent week-on-week (W-o-W) to close at 52,994.13

basis points.

Across the sectors last week, performance was largely on a bear trend across the indices under our purview except for the NGX Insurance index which gained 2.09 per cent week on week from buy interest.

On the other hand, the Industrial index led the losers with 3.65 per cent loss week on week, while the NGX Banking index, NGX Consumer Goods index and NGX Oil & Gas index

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

all traded southward to close the week by 1.05 per cent, 0.62 per cent and 0.11 per cent from the previous week.

The market breadth for the week was negative as 16 equities appreciated in price, 37 equities depreciated in price, while 103 equities remained unchanged.

Nigerian Aviation Handling Company led the gainers table by 20.99 per cent to close at N9.80, per share. AXA Mansard Insurance followed with a gain of

15.79 per cent to close at N2.20, while CWG went up by 14.94 per cent to close to N1.00, per share.

On the other side, Eterna led the decliners table by 19.12 per cent to close at N5.50, per share.

Multiverse Mining and Exploration followed with a loss of 18.83 per cent to close at N2.63, while Associated Bus Company declined by 16.22 per cent to close at 31 kobo, per share.

Overall, a total turnover of 1.054 billion shares worth N10.050

S E C U R I T I E S

T R A D E D

QUANTITY TRADED

VALUE TRADED ( N )

MAIN BOARD

billion in 16,155 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 2.071 billion shares valued at N17.562 billion that exchanged hands previous week in 17,917 deals.

The Financial Services Industry (measured by volume) led the activity chart with 630.378 million shares valued at N5.438 billion traded in 7,705 deals; thus contributing 59.83 per cent and 54.11 per cent to the total equity

AS O F

turnover volume and value respectively. The Conglomerates Industry followed with 248.074 million shares worth N394.370 million in 812 deals, while the Oil and Gas Industry traded a turnover of 70.921 million shares worth N1.345 billion in 1,452 deals.

On the market performance this week, analysts expected the stock market to maintained downtrend this week on continuous sell pressure.

0 7 / 0 4 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

MONDAY, APRIL 10, 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 05Apr-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 196.71 197.86 4.02% Afrinvest Plutus Fund 100.00 100.00 10.63% Nigeria International Debt Fund 332.39 332.39 7.46% Afrinvest Dollar Fund 107.39 108.49 1.85% 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 6.54% Anchoria Equity Fund 154.05 155.45 6.28% Anchoria Fixed Income Fund 1.25 1.25 1.56% 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 23.02 23.72 4.92% ARM Discovery Balanced Fund 540.95 557.26 3.78% ARM Ethical Fund 46.24 47.63 2.49% ARM Eurobond Fund ($) 1.14 1.14 1.39% ARM Fixed Income Fund 1.13 1.13 1.79% ARM Money Market Fund 1.00 1.00 10.30% ARM Short Term Bond Fund 1.05 1.05 1.62% 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 96.4 96.4 1.37% AVA GAM Fixed Income Naira Fund 1,130.62 1,130.62 0.37% 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 N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A 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 1.03 1.03 2.20% 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 11.41% Paramount Equity Fund 20.01 20.38 4.64% Women's Investment Fund 152.99 155.21 3.34% CHD Nigeria Bond Fund 102.37 102.37 12.16% CHD Nigeria Dollar Income Fund 1.00 1.00 10.98% 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 9.24% Cordros Milestone Fund 142.99 143.91 3.85% Cordros Fixed Income Fund 108.03 108.03 9.54% Cordros Halal Fixed Income Fund 104.83 104.83 6.26% Cordros Dollar Fund ($) 114.73 114.73 6.05% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn 1.00 1.00 9.72% Coronation Money Market Fund 1.23 1.24 2.64% Coronation Balanced Fund 1.39 1.39 -1.46% 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 1.00 1.00 12.83% Emerging Africa Bond Fund 1.10 1.10 10.29% Emerging Africa Balanced Diversity Fund 1.13 1.13 19.98% Emerging Africa Eurobond Fund 106.25 106.25 4.63% 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 1515.71 1515.71 11.91% FBN Balanced Fund 209.31 210.84 4.81% FBN Halal Fund 126.77 126.77 12.51% FBN Money Market Fund 100.00 100.00 10.79% FBN Dollar Fund 122.40 122.40 6.96% FBN Smart Beta Equity Fund 175.33 177.62 5.87% FBN Specialized Dollar Fund 106.72 106.72 9.62% 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 8.01% Legacy Debt Fund 3.54 3.54 -11.58% Legacy Equity Fund 2.12 2.17 22.13% 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 4,408.80 3,785.90 100.00

Offer Price 4,436.64 3,785.90 100.00

Yield / T-Rtn 18.34% 7.64% 11.25%

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) 103.10 103.10 9.94% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.32% 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 3,836.55 3,862.51 13.10% Stanbic IBTC Bond Fund 247.76 247.76 5.17% Stanbic IBTC Ethical Fund 1.50 1.52 19.84% Stanbic IBTC Guaranteed Investment Fund 337.83 337.83 7.89% Stanbic IBTC Iman Fund 278.74 281.53 19.22% Stanbic IBTC Money Market Fund 1.00 1.00 9.12% Stanbic IBTC Nigerian Equity Fund 12,873.13 13,025.66 17.89% Stanbic IBTC Dollar Fund (USD) 1.39 1.39 7.52% Stanbic IBTC Shariah Fixed Income Fund 122.94 122.94 5.16% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 117.63 117.63 10.58% Stanbic IBTC Absolute Fund 4,675.92 4,675.92 9.91% Stanbic IBTC Aggressive Fund 3,423.22 3,464.39 23.10% Stanbic IBTC Conservative Fund 4,392.68 4,408.92 15.38% 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 8.64% United Capital Balanced Fund 1.57 1.60 14.64% United Capital Wealth for Women Fund 1.27 1.29 9.21% United Capital Sukuk Fund 1.13 1.13 10.51% United Capital Fixed Income Fund 1.99 1.99 7.30% United Capital Eurobond Fund 127.30 127.30 6.05% United Capital Money Market Fund 1.00 1.00 9.55% 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 14.57 14.71 5.08% Zenith ESG Impact Fund 16.57 16.73 4.81% Zenith Income Fund 23.98 23.98 1.79% Zenith Money Market Fund 1.00 1.00 9.81% 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 4.43 4.53 10.30% Vetiva Consumer Goods Exchange Traded Fund 6.95 7.05 18.71% Vetiva Griffin 30 Exchange Traded Fund 19.16 19.36 8.28% Vetiva Money Market Fund 1.00 1.00 10.08% Vetiva Industrial Goods Exchange Traded Fund 24.47 24.67 22.32% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 141.70 143.70 -10.12% REITS NAV Per Share

Yield / T-Rtn

115.40 53.52 101.31 9.95

1.31% 4.74% -12.87%

Bid Price

Offer Price

Yield / T-Rtn

16.97 137.62 109.42 17.40 16.40

17.07 139.99 111.28 17.50 16.50

9.65% 7.83% 9.42% -3.54% 3.23%

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.

MONDAY, APRIL 10, 2023 ˾T H I S D AY

39

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Easter: Pope Prays for Ukrainians, Russians, Refugees

in the exercises.

China began the three-day drills on Saturday. Monday is set to be the last day for the drills, which are widely viewed as a retaliatory measure for the Taiwan president’s recent meeting in California with US House Speaker Kevin McCarthy.

The Chinese military said in a statement that the combat readiness patrols and “Joint Sword” exercises around Taiwan are a “serious warning to the Taiwan independence separatist forces’ and external forces’ collusion and provocation.”

“The operations are necessary for safeguarding China’s national sovereignty and territorial integrity,” the military said.

Taiwan’s defence ministry said Saturday that eight Chinese warships and 42 fighter jets were detected around the island and that some of the deployed craft had crossed the middle line of the strait that separates the island from the mainland.

Taiwan President Tsai Ing-wen denounced the drills, saying Taiwan will continue to work with the United States and other democracies as the island faces “continued authoritarian expansionism” from China

In an Easter message highlighting hope, Pope Francis invoked prayers for the Ukrainian and Russian people on Sunday, praised nations which welcome refugees and called on Israelis and Palestinians wracked by the latest surge in deadly violence to forge a “climate of trust.”

Francis, along with dozens of prelates and tens of thousands of faithful, celebrated Easter Mass in a flower-adorned St. Peter’s Square, affirming the Christian belief that Jesus rose from the dead days after his crucifixion.

The 86-year-old pontiff topped the celebration with a traditional speech about troubled places in the world. Encouraging “trust among individuals, peoples and nations,” Francis said Easter’s joy “illumines the darkness and gloom in which, all too often, our world finds itself enveloped.”

The pope’s Easter message is known by its Latin name, “Urbi et Orbi,” which means “to the city and the world.”

Since Russia invaded neighbouring Ukraine in February 2022, Francis has repeatedly called for the fighting to end and sought prayers for the “martyred” Ukrainian people.

Ukrainian diplomats have complained that he hasn’t come down hard enough in his statements on Russia, particularly Russian President Vladimir Putin, as the Vatican tries to avoid alienating Moscow.

Worshippers Celebrate Easter in Jerusalem Amid Surge in Violence Thousands of worshippers held tense celebrations in Jerusalem Sunday, as Christian Easter coincided with Jewish Passover and the Muslim holy month of Ramadan, amid a surge in violence in the Israeli-Palestinian conflict.

Leading Easter Mass at the Vatican, Pope Francis expressed “deep concern” Sunday over the flare-up in tensions sparked by an Israeli police raid on Al-Aqsa mosque days ago.

Israel has since struck targets in Gaza, Lebanon and most recently, Syria in response to rocket fire mostly blamed on Palestinian militants, while separate attacks in the West Bank and Tel Aviv killed three people, including an Italian tourist.

On Sunday, pilgrims crowded into the narrow alleyways of Jerusalem’s Old City, flanked by heavily-armed Israeli security forces deployed following the recent deadly attacks.

Churchgoers were ushered through the Church of the Holy Sepulcher courtyard, built on the site where Christians believe Jesus was crucified, buried and resurrected.

Near the church, thousands of Jewish pilgrims gathered at the Western Wall for the traditional priestly blessing of Passover.

Taiwanese Celebrate Freedom Amid China’s War Games Retired lecturer Donald Ho was out for his morning stroll in a busy downtown park Sunday, anxious about what Chinese jets and ships holding war games around Taiwan meant for freedom in the self-ruled island.

“I am a little worried. I would be lying to you if I said that I am not,” the 73-year-old told AFP in Taipei.

“The problem is sovereignty. I want independence, but they (China) just regard Taiwan as a province,” he said.

Beijing launched three days of military drills on Saturday dubbed “Joint Sword” to rehearse the encirclement of the island after a meeting between Taiwan’s president and the US House Speaker.

It was the biggest military action by Beijing around Taiwan, which it claims as its own territory, since launching huge drills last August following a visit by former House speaker Nancy Pelosi.

“If a war broke out, both sides would suffer quite a lot. Just like the situation in Ukraine.”

Other Taiwanese were out stretching their legs or practising tai-chi in Daan Park, unbowed by the new military movements offshore.

“Go to the city; everybody is eating, dancing, laughing, everything,” said retired businessman Jasper Lee, 75.

“China, they are stuck in their brain. They think Taiwan belongs to them.”

UK: Russia Attempting to Normalise Illegal Annexation of Ukrainian Areas The British Defense Ministry said Sunday that having Russian Interior Minister Vladimir Kolokoltsev deliver the main

report at the recent full session of Russia’s Security Council was an attempt to normalise the situation in the illegally annexed areas of Ukraine.

“In reality,” the ministry said in the intelligence update posted on Twitter, “much of the area remains an active combat zone, subject to partisan attacks, and with extremely limited access to basic services for many citizens.”

Russia’s Security Council met last week for the first time since October 2022.

Following the return of 31 children to Ukraine, the head of the Presidential Office of Ukraine, Andriy Yermak, emphasised in a phone call Saturday with Amal Clooney, a prominent human rights lawyer, the importance of returning all the deported children to Ukraine.

Yermak and Clooney, cofounder of the Clooney Foundation for Justice, discussed protecting the rights of Ukrainian children and holding Russia accountable for crimes committed against them, according to the official website of the president of Ukraine.

Clooney, who specialises in international criminal law and human rights issues, has addressed the UN Security Council calling for justice as evidence of the crimes and atrocities allegedly committed by the Russian military that began emerging weeks after the February 2022 invasion of Ukraine..

Saudi Officials Visit Yemen for Talks with Rebels Officials said Saudi officials were in Yemen’s capital Sunday for talks with the Iran-backed Houthi rebels as part of international efforts to resolve Yemen’s nine-year conflict.

Saudi Arabia’s delegation, chaired by the kingdom’s ambassador to Yemen, Mohammed bin Saeed Al-Jaber, will hold talks with Mahdi al-Mashat, head of the Houthi’s supreme political council, which runs rebel-held areas in Yemen, according to the Houthi-run SABA news agency.

An Omani delegation, which arrived in Sanaa on Saturday, will join the talks, the agency reported, citing an unidentified source.

Mohammed al-Bukaiti, a Houthi leader, said on Twitter that Saudi and Omani officials would discuss “ways to achieve

a comprehensive and lasting peace in the region.”

He said achieving an honourable peace between the Houthis and Saudi Arabia would be “a triumph for both parties” and urged all sides to take steps to “preserve a peaceful atmosphere and prepare to turn the page of the past.”

There was no immediate comment from Saudi Arabia. The office of the UN envoy for Yemen didn’t immediately respond to a request for comment.

The talks in Sanaa are part of international efforts led by Oman to settle Yemen’s conflict, which began in 2014.

Gunfire, Protests in Ethiopia’s Amhara over Plan to Disband Regional Force Gunfire was heard in at least two towns in Ethiopia’s Amhara region on Sunday as thousands protested against a federal government order to integrate regional special forces into the police or national army, residents said.

Members of Amhara’s special forces and allied militias vowed to oppose Thursday’s order, setting up a standoff with the government of Prime Minister Abiy Ahmed, who said in a statement that the plan was “for the sake of Ethiopia’s national unity.”

The order applies to all of Ethiopia’s 11 regions, which have their own regional armies and the right to use their own language but has been received particularly badly in Amhara, the second biggest, which has fallen out with Abiy recently.

A resident of Gondar, where a large protest was taking place, said members of the Amhara special forces had fired their weapons into the sky all night in defiance of the order.

Two residents of the town of Kobo said they heard artillery fire outside the town. It was not immediately clear who was responsible. There were protests in at least six other towns, residents said, all speaking on condition of anonymity out of fear for their safety..

China Conducts Military Exercises Near Taiwan for Second Day China conducted a second day of military drills near Taiwan on Sunday. Dozens of fighter jets and warships were deployed

Irish PM Seeks Restoration of Northern Ireland Power-Sharing Irish Prime Minister Leo Varadkar pledged Sunday to intensify efforts with his British counterpart Rishi Sunak to restore the power-sharing government in Northern Ireland and hopes to break the deadlock there in the next few months.

The Democratic Unionist Party (DUP) has said it will not drop a yearlong boycott of the devolved assembly in protest at post-Brexit trade rules without further changes to a deal struck by the United Kingdom and the European Union in February to ease the trade barriers.

London has said it will not renegotiate any part of its new agreement.

“We put a huge amount of effort in the last few months into getting an agreement on revisions and reforms to the protocol,” Varadkar told national broadcaster RTE, referring to the checks on goods between Northern Ireland and the rest of the UK that has angered many pro-British unionists.

“The next piece now is deep engagement with the British government and also with the five parties in Northern Ireland to try and get the institutions up and running again, and certainly over the next few weeks, I’ll be intensifying my contacts with Prime Minister Sunak.”

Varadkar said he would work toward restoring the mandatory power-sharing government “in the next few months,” noting that May’s local council elections and the annual marching season in July - which often sparks sectarian tensions - could make an agreement more difficult in the short term Thousands Still Missing from 20 Years’ Iraq’s Turmoil Nawal Sweidan quietly folded her son’s clothes and straightened the bedsheets in his room as she always used to do when he was out at work or university. She does it regularly, even though he hasn’t been home for almost 10 years since the militiamen took him away.

Her son Safaa vanished in late July 2014. At around 1:30 a.m., just days before the holy month of Ramadan ended and holiday celebrations began, a group of men showed up at the family’s doorstep and asked for Safaa, a law student and postal carrier in his early 20s.

“They told us they just wanted to question him and will return him soon,” Sweidan said.

Twenty years after the 2003 US-led invasion of Iraq, much of the conflict and sectarian bloodletting it unleashed has subsided. But those years left a legacy of thousands of people — or perhaps tens of thousands, like Safaa — who went missing, and their families feel forgotten as they seek answers about their loved ones’ fates.

As it tries to turn the page on Iraq’s troubled past, the government has not established a commission to look into the missing — in part, rights workers say, because politicians are intertwined with armed groups involved in kidnappings and killings

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EASTER SUNDAY THANKSGIVING SERVICE...

L-R: Bishop of the Metropolitan Diocese of Ikeja and Chairman, Christian Association of Nigeria (CAN), Lagos State, Rev. Lawrence Awojobi; Cathedral Administrator, Methodist Cathedral of Peace and Excellence, Opebi, Ikeja, Lagos, Bishop Stephen Adegbite and Rev. Oladapo Daramola during the 2023 Easter Sunday Thanksgiving Service…yesterday

Faleke on Rotation of Governorship: It’s Turn of Kogi West for Fairness, Justice Let there be equity, Okun Devt Association pleads with gov Adedayo Akinwale in Abuja and Ibrahim Oyewale, Lokoja The House of Representatives member and former running mate to the All Progressives Congress (APC) governorship candidate in 2015 in Kogi State, Mr James Abiodun Faleke, has lent his voice to the issue of power shift in the state, saying it was the turn of Kogi West to produce next governor.

This is as the renowned Okun Development Association (ODA), has also appealed to Governor Yahaya Bello, to ensure Equity, justice and fairness in the choice of his successor.

In a statement signed by Faleke,

he said, "I wish to add my voice to the various opinions being expressed by many on the vexed issue of which part of Kogi State should produce the next governor, it has become imperative for me to let Kogites know my stand irrespective of my decision not to participate in the primaries for reasons I stated earlier.

"For equity, justice and fairness, it is only reasonable to lend my voice to the call by many that our great party, the All Progressives Congress should ensure the candidate for the governorship election emerged democratically from Kogi West.

For a heterogeneous state such as Kogi State, giving all parts of

ORTOM: WE WILL NOT BE PROVOKED INTO TAKING UP ARMS AGAINST ANYONE more still needs to be done to guarantee the security of the lives of Nigerians across the country.

My thoughts and prayers are with the families of the deceased."

No fewer than 60 people, mostly children, were at the weekend abducted by terrorists in communities straddling Zamfara and Katsina states.

Sources said the incidents happened when the terrorists were moving from Sububu Forest in Zamfara State to neighbouring Birnin-Gwari Forest in Kaduna State.

The victims were from the Kucheri, Wanzamai, and Danwuri communities of Tsafe Local Government Area of Zamfara State, and Yankara town in Faskari Local Government Area of Katsina State.

In the meantime, Sokoto State Police command confirmed the escalation of banditry in some communities in Gwadabawa Local Government Area of the state.

The police said the situation was responsible for the rising tension in some villages within the local council.

Spokesman of the Sokoto State Police Command, Deputy Superintendent of Police, Sanusi Abubakar, who confirmed this to newsmen, said joint military operations with members of the State Police Command were ongoing to arrest the situation.

However, Abubakar could not confirm an earlier report by some

media outfits about the outbreak of violence between the Fulani and Hausa communities that claimed the lives of some persons. He said details of the alleged violence could not be ascertained, as on-going joint military operations were taking place within the local council and its environs.

An international media outfit had quoted a local official, Aminu Gwadabawa, to have said people in the area were living in fear, as the conflict also claimed the life of a soldier.

Attempts to speak with the Nigeria Army to confirm the report were unsuccessful, as calls to the spokesman of the 8th Division, Nigeria Army, did not go through at the time of filing this report.

But a military official, who spoke on condition of anonymity, blamed the increase in armed criminal activities in some village on informants who sabotaged the efforts of the military.

He lamented, “At times, villagers will call us to inform us on attack and later tell the bandits where we are coming through.

"Can you imagine? We will receive a distress call over an attack, but same villagers will call bandits to tell them where we are coming through and they would ambush us.”

The officer cautioned the villagers, saying the military are on ground to protect them.

the state a sense of belonging is key to peaceful coexistence among the several ethnic groups in the state.

"For more than 16 years, our brothers from the Eastern Senatorial District held sway in Lugard House through the late Prince Abubakar Audu, Alhaji Ibrahim Idris and Captain Idris Wada respectively.

"Kogi Central by the end of the tenure of Alhaji Yahaya Adoza Bello would have been in the saddle for eight years, uninterrupted.

While not discounting the right of those concerned to contest for any office, I believe that the time has come to be just and fair to all.

"The clamour for power shift pre-2015 by Kogi West and Kogi Central was to correct the marginalisation of the two Districts in the Governorship seat.

My position is not premised on any sense of entitlement but on the ideals of equity and fairness which late Abubakar Audu preached before his untimely death.

"The victory of our great party, APC in 2015 especially in Kogi West was the avowed commitment of late Prince Abubakar Audu to ensure power shifts to other parts of the State. APC cannot afford to be in opposition in Kogi State and all hands must be on deck to make sure to convincingly

win in the November 22, 2023 governorship.

"There are several states in Nigeria where governorship positions are rotated amongst the three Senatorial Districts with attendant Peace, unity and progress, why must we be different?

"We must eschew things that could continually engender bitterness, distrust and disunity amongst us especially, when deciding on who should be the Chief Executive of this great State.

What should be of importance is our collective quest and preparedness to engender a united Kogi State for socio-political and economic prosperity.

"The realization of a long-term dream of a state that is secure and prosperous with its diverse demography peacefully coexisting should be paramount in our minds. This can only happen if we collectively decide on fairness, equity and justice.”

Also, in a statement by its President-General, Femi Mokikan ODA recalled that, “The history of the creation and governance of our dear state is very well known that we need not recount the details here. Similarly, the composition of the various nationalities that constitute the East, Central and West Senatorial Districts that make up the State are well known.

“Since the commencement of

democratic governance in Nigeria, the East Senatorial District of Kogi State has produced the Governor of the state at various elections and cumulatively governed the state for 19 years to the exclusion of the other two senatorial districts. This trend would have extended to 23 years, but for providence. May the soul of our former Governor, Prince Abubakar Audu, continue to rest in His bosom.

“We will all recall that this lopsided trend in governance naturally made the Central and West Senatorial Districts uncomfortable and frustrated.

Notwithstanding, we lived peacefully together in the state.

The two districts handled the situation with a lot of maturity for the sake of the state’s progress and development.

“Following Providential intervention in 2015, Kogi Central Senatorial District took up the baton. By the end of the second term in January 2024, Kogi Central, represented

by His Excellency, Governor Yahaya Adoza Bello, would have completed eight years in office.

“Your Excellency, you will recall that the issue of Power Rotation among the three Senatorial districts in the state was more or less the only issue for discussion among the people of Kogi Central and Kogi West before the general election of 2015. One would be

right to submit that your coming to office through that election brought relief of varying degrees to all parts of the state.

“You will also recall, Your Excellency, that the campaign leading to the 2019 election, which was for your second term in office, was particularly challenging. ODA took up the challenge decisively, God gave us victory, and you were returned for a second term.

“It is instructive to remind ourselves that the main complaint of the people of Kogi Central and Kogi West Senatorial districts was that it was against fairness, equity and natural justice for one of three senatorial districts to hold on to power for 16 years back-to-back while the other two senatorial districts stand-by as onlookers.

“Now that the second term of Kogi Central is coming to an end, the fairest, most equitable and most just thing to do in order to continue to promote peaceful coexistence and sense of belonging of all is to concede to Kogi West Senatorial District the opportunity to produce the Governor of the state for the next dispensation.

“This is not as a matter of entitlement. It is more to meet the minimum standard of fairness, equity and justice, in addition to promoting peaceful and brotherly coexistence. It is the only right thing to do in the circumstance.”

Ogun Guber: APC Mocks Adebutu for Filing Petition James Sowole in Abeokuta The All Progressives Congress (APC), Ogun State, has mocked the filing of petition by the Peoples Democratic Party (PDP) governorship candidate in the 2023 election, Hon Oladipupo Adebutu, describing it as a welcome development.

Adebutu has filed his petition challenging the outcome of the March 18 election at the Ogun State governorship election petition tribunal in Abeokuta, the state capital, on Thursday.

A statement issued in Abeokuta by the Ogun State

APC Publicity Secretary, Tunde Oladunjoye, quoted the party as saying, "Now that Mr. Adebutu has seen reason and decided to toe the path of civility and honour as we advised him, we hope that he will desist from his antics of cheap blackmail, sponsored protests, incitements, false claims and propaganda.

"We also took cognisance of his claims, when he went to file the petition and wish to advise that he should not intimidate/ stampede the tribunal with his immoral and unethical boasts as if the Honourable Justices are pliable and/or in his pockets.

"His lawyers should be professional enough to advise him against this ignoble attitude, knowing full well that a case is determined by the relevant laws, facts and evidence and not based on the fantasies, whims and caprices of any of the parties, no matter how plausible.

"They have stated their claims.

They should expect our response.

But suffice it to say that the same Adebutu, who said he won the election and should be so declared is in another breath, according to reports in the media, asking the court to disqualify His Excellency, Prince

Dapo Abiodun, from the rerun if his prayer that election should be held in certain polling units and wards is upheld. So, we ask: Who is really afraid of a contest?

"While we leave our team of lawyers to do justice to the jejune issues raised in the petition, we advise Adebutu to be decorous and conduct himself as a citizen of Ogun State under the leadership of Prince Dapo Abiodun, who, by the grace of God and the benevolence of the good people of Ogun State, remains the governor of our dearly beloved state."

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CATHEDRAL CHURCH OF CHRIST...

L-R: Provost Warden, Cathedral Church of Christ, Marina Lagos, Mr. Adeyinka Shonekan; Cathedral Priest, Rev. Dr. Seun Adeyemi; Cathedral Priest, Ven. Henry Adelegan; Provost, Very Rev. Dr. Adebola Ojofeitimi; Cathedral Priest, Rev Canon Emmanuel Fadipe; Cathedral Priest, Rev Wole Faloye; People’s Warden, Prince Dapo Opeoye; and Cathedral Priest, Rev Olusegun Lufadeji, during the 2023 Easter KOLAWOLE ALLI. Church Service at the church in Marina, Lagos ... yesterday

Expulsion, Suspension of Chime, Nnamani, Others Unconstitutional, Says APC Spokesperson Gideon Arinze in Enugu Publicity Secretary of the All progressives Congress (APC) in Enugu State, Charles Solo-Ako, has described as unconstitutional, the purported expulsion and suspension of some leaders of the party by the State Executive Council over alleged anti-party activities.

Secretary of the party in the state, Robert Ngwu, had last Thursday April 6th, announced the expulsion of a former governor of the state, Sullivan Chime; former Speaker of the state House of Assembly, Eugene Odoh; Director General of Voice of Nigeria, Osita Okechukwu; former commissioner for Tourism, Ozor Joe Mmamel; Special Assistant to Foreign Affairs Minister, Flavour Eze and former House of Representatives candidate in 2019, Maduka Arum.

The secretary also announced the suspension of the Minister of Foreign Affairs, Geoffrey Onyeama and former Senate President, Ken Nnamani from the party.

However, addressing newsmen yesterday, Solo-Ako said what the state chairman of the party, Ugochukwu Agballah, and the secretary, Ngwu, did was an ambush on the rest of the State

Working Committee members of the APC in the state, adding that the announcement was a "reckless show of brigandage, an assault on the party’s constitution and an exercise in futility."

He noted that the suspension and expulsion of leaders of the party were never discussed at the ward or state levels of the party until their sudden announcement.

According to him, "There was no petition from anybody against the leaders, nor were their different wards involved, either to have deliberated on such matter, apportioned any blame or referred any such matter to the state level of the party, contrary to the party’s constitution."

He said it was unfortunate that Agballah, arrogated to himself, the sole administrator of the APC in the state and chose to fight against individuals, who had been working to ensure that the party gained acceptance among the people.

“The state executive members of the party who raised objection at such sudden decision were cajoled," he said, adding: "The state working committee members were invited as spectators and no committee was set up to investigate the matter."

Speaking further, he said, “There are levels of anti-party activities. When a state chairman dispersed members, who are supposed to canvass for votes

for the party and the chairman refused for the party to fill candidates that can win election in places such as Nkanu East and Nkanu west, what other

form of anti-party can be worse than these?”

He also accused Agballah of rigging against the APC and in favour of the other parties in

the last general election as well as failing to deliver more votes to the presidential candidate of the party, Bola Tinubu, as he promised.

Police Community Relations C’ttee Sets Up Offices in UK, Canada Calls for support for personnel, distributes relief materials Kingsley Nwezeh in Abuja The National Chairman, Police Community Relations Committee (NCPC), Alhaji Ibrahim Olaniyan, weekend, said the organisation has set up offices in the United Kingdom and Canada among other countries.

He also called for more prayers and support for the management and personnel of the Nigeria Police Force to enhance adequate security and to stall the trend of crime and criminality in the country, saying the committee had established offices outside the country, notably, Canada and United Kingdom among others.

Olaniyan advocated support for police officers after donating relief

materials to Muslim personnel for Ramadan at the Police Force Headquarters Mosque in Abuja.

Speaking to journalists after the Jumaat Prayers, the national chairman said, "Our police is not Ghanian or Gambian Police but Nigeria Police, therefore, let us support their efforts to make our society crime free. We are here today to show our love and support to Nigerian police, clearly Muslims among them.

“Yesterday we went to the Inspector-General of Police to distribute these relief materials to all personnel, not only Muslims alone but Christians or pagans.

These are Easter and Ramadan packages and we are at the Force

Headquarters Mosque for special one for the Muslims among police officers.

"We did this at Christmas. We are going to repeat it every Christmas.

We are going to support the church, the Force Headquarters church, because we want them to feel our impact and these are two religious groups in the Nigerian police."

Also, the Police Community Relations Committee as part of its activities aimed at ensuring adequate support for the Nigerian Police in executing its constitutional mandate, paid courtesy visits to Inspector General of Police, Police Service Commission and Police Officers Wives Association (POWA) and the

Force Headquarters Mosque Abuja, where the committee donated some items to the commission's leadership.

Olaniyan said the committee was at the Police Service Commission (PSC) to congratulate the Chairman, Solomon Arase, on his appointment and to inform him that the committee was vigorously building on the legacies he established as the 18th Inspector-General of Police.

He said the committee had established offices outside the country notably, Canada, United Kingdom among others, and that, "We are here to say the fruit God used you and others to plant has germinated.

We are here to rejoice with you and show you love," he said.

were in sorrow only for the table to turn eventually.

He said, “In the same way, the good people of Nigeria are in sorrow now, while the criminal elements in politics are rejoicing believing they have had it again their way. In a short while, at God’s appointed time, the table will turn on them and our sorrow will turn into joy."

risen from the stranglehold of underdevelopment, deprivation and poverty to prosperity and transformation.”

He saud just as Jesus Christ triumphed over death, the people of Abia State spoke eloquently and gallantly with their votes and overcame the forces of bad governance.

He noted that it did not come easy, as "the evil forces that had held the state bound in the last 24 years rose once again to steal our victory, (but) God in His infinite mercy said, no, and literally stood against them. We were subsequently declared winner of the election by the Independent National Electoral Commission (INEC) after four days."

Easter celebrations in Kaduna, Sani admonished Christians to strive to imbibe the virtues, which Jesus Christ lived for. He called on Nigerians to use the Easter period to purge themselves of feelings of hate and forgive one another.

Sani stated, “We must strive to imbibe the values, which Jesus Christ lived for. If we imbibe the values of humility, love, compassion, peace and righteousness, our communities and country would be better places.”

The governor-elect noted that Easter was a time of spiritual and physical renewal, stressing that the lent period enabled the faithful to return to God through fasting, prayers and alms giving.

"If we imbibe the values of humility, love, compassion, peace and righteousness, our communities and country would be better places,” he said, adding, “Most of our communities are in the throes of conflict. Peace is the only way towards progress and development."

AT EASTER, NIGERIAN LEADERS ADVOCATE LOVE AMONG PEOPLE rose from the dead and brought new life to the world, we, too, can rise above our challenges and start afresh.

"This Easter, let us all come together and renew our commitment to building a better Nigeria. Let us embrace the power that gives a new beginning and work together to create a brighter future for ourselves and our children. Let us put aside our differences and come together in unity, just as Christ's resurrection brought together people from all walks of life.”

Obaseki Urges Sacrificial Life by Citizens

Edo State Governor Godwin Obaseki felicitated with Christians on the commemoration of the death and resurrection of Jesus Christ, urging them to use the period to seek the face of God and work towards a peaceful and progressive country.

Obaseki, in his Easter message, charged the Christian faithful to imbibe the virtues of tolerance,

sacrifice, and love, as exemplified

by Jesus Christ.

The governor stated, “Easter is a time of reflection, renewal and hope. It reminds us of the ultimate sacrifice made by Jesus Christ for the redemption of mankind.

His death and resurrection brought hope to a world filled with despair, and it remains a symbol of hope for all humanity.

“In Nigeria, we face peculiar challenges that require resilience and hope. As a nation, we have witnessed unprecedented security challenges, and economic difficulties, among others.

However, I strongly believe that we will overcome these challenges and emerge stronger.

“As we celebrate Easter, let us draw strength from the resilience of Jesus Christ and remain hopeful for a better Nigeria.

We must continue to seek the face of God and work together towards building a nation where peace, unity, and progress thrive.

“I urge all Edo State citizens to use this Easter period to reflect on our collective responsibility

in building a better state and nation. Let us demonstrate love and kindness towards one another and continue to support the efforts of the government in providing good governance.”

Ukpong: Be Resilient on Search for New Nigeria

Catholic Bishop of Umuahia Diocese, Most Rev. Michael Ukpong, urged Nigerians to sustain the quest for a new Nigeria, despite their disappointment on the outcome of the 2023 presidential election.

Ukpong gave the advice in his Easter message. He said Nigerians had gone to the poll and voted for the emergence of a new Nigeria but "for now, that hope has been crucified by INEC. "The message of Easter this year for the good people of Nigeria is that we should not give up the hope for a New Nigeria, which many of us voted for."

Referencing the death and resurrection of Jesus Christ, Ukpong noted that the enemies of Jesus rejoiced while his disciples

Alex Otti: Abia is Risen with Christ

Governor-elect of Abia State, Mr. Alex Otti, said the 2023 Easter celebration was significant for the state, saying, "Abia is risen with Christ" following the outcome of the governorship poll. Otti stated this in a message he sent to Abians to mark this year's Easter celebration.

The new governor stated, "I see a correlation between the story of Easter and the story of Abia State. Just like our Lord Jesus Christ conquered death and rose from the dead, Abia State, by the grace of God, has defeated her enemies and has

Kaduna Governor-elect Preaches Humility

Kaduna State Governor-elect, Senator Uba Sani, said Nigeria would be a better place if citizens imbibed the virtues of humility, love, compassion, peace and righteousness of Jesus Christ.

In a message marking the

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TRINITY UNIVERSITY MATRICULATION CEREMONY…

L-R: Vice-Chancellor of Trinity University, Prof Charles Korede Ayo; Pro-Chancellor and Chairman of Council, Samuel Olatunji; Managing Director and Founder of SystemSpecs Limited, John Obaro; Member of Council, Dr. Olufemi Oyinsan; and Member of Council, Dr. Oluranti Adebayo, at the 5th matriculation ceremony and lecture of Trinity University in Lagos… recently ETOP UKUTT

I Was Not Kidnapped, Says Rivers APC Lawyer Confirms filing petition against March 18 polls

BlessingIbungeinPortHarcourt

A lawyer, member of the All Progressives Congress (APC) in Rivers state, Dr Godswill Dike has clarified that he was not kidnapped at the office of Independent National Electoral Commission (INEC) in Port Harcourt, as was speculated.

Dike, who is a brother to the

APC State Legal Adviser, Azubuike Dike, maintained that in fear of being harmed by some suspected hoodlums at the front of the INEC office he asked for the help of some chieftains of the Peoples Democratic Party (PDP) who whisked him and his colleague out of the premises to a safer place.

The APC lawyer who spoke to

THISDAYyesterday evening during a telephone interview, also disclosed that the party had filed a petition at the election tribunal to challenge the outcome of the March 18, 2023 governorship and State House of Assembly polls in Rivers.

A statement last Thursday, signed

by Darlington Nwauju, Sogbeye Eli, State Publicity Secretary and Spokesman, Rivers APC 2023 Campaign Council, respectively, alerted the alleged kidnap of the

lawyer while trying to obtain the certified true copies (CTC) documents at the INEC office.

The statement also allegedly linked the crime to some PDP chieftains who were protesting with their supporters in front of the INEC office.

But in this interview with Dike, he claimed that although he and his colleague suspected that they might be harmed after they had collected the documents from the

INEC noticing the crowd at the INEC office, they put a call to their party members to alert them of the development.

According to the APC lawyer, it was while he was figuring out on how to leave the INEC office unharmed that he sighted the Deputy Speaker of the state House of Assembly, Mr. Edison Ehie and Council Chairman of the Ikwerre Local Government, Nwanosike Samuel, amongst the protesters

in front of the gate.

He explained: “On Thursday I was at INEC office, at the point the Resident Electoral Commissioner (REC) authorised that those documents should be given to us, I also noticed that the legal adviser for the PDP in Rivers, Kingsley Chuku, was also there.

When those documents were given to me, the same documents were given to Chuku, also to somebody sent by the SDP Rivers state.

Micheal OlugbodeinAbuja

latex condoms factory packed inside bottles of 100ml body spray.

A statement on Sunday by the Spokesman of NDLEA, Mr. Femi Babafemi, said that the suspect claimed that he departed his country, Suriname, located in the North-eastern coast of South America on April 2, for Sao Paulo, Brazil, and from São Paulo boarded Qatar Airways flight to Nigeria last

Friday in search of his long-lost Nigerian father whom he called “Omini.”

In another development, NDLEA officers at Tincan seaport in Lagos have intercepted 110 parcels of Colorado, a strain of cannabis, weighing 55 kilogrammes hidden in a container marked MSCU 4972769 from Toronto via Montreal, Canada.

According to Babafemi, the illicit

consignment was discovered in the container bearing five units of used vehicles, during a joint examination of the cargo by NDLEA and other port stakeholders.

He disclosed that the seizure was part of a total of 1,559.3 kilogrammes (1.5 tons) of the psychoactive substance seized during interdiction operations in five states in the past week.

Gunmen Abduct Business Woman in Akwa Ibom Mr. Umana Akpan’s shop, while Surinamese Man Arrested with 9.9kg Cocaine Concealed in Condoms Okon Bassey in Uyo

Gunmen numbering about five at the weekend abducted a businesswoman, Mrs. Uduak Akpan, an indigene of Nsit Ubium Local Government Area of Akwa Ibom State.

The woman, residing in Ata-Idung Afaha Eket of Eket LGA of the state, was reportedly abducted at the husband’s business premises.

An eyewitness said the victim was abducted at the husband,

attending to customers at Umaco Shopping Centre at James Town Junction in Ata-Idung Afaha Eket at 9 p.m. on April 7.

After the abduction, the witness said the gunmen shot severally into the air to scare people within the environment in order to escape with the victim.

The husband was said to have watched the incident helplessly while the gunmen had a field day and zoomed off to an unknown destination with his wife.

A34-year-old male South American from Suriname, Mr. Dadda Albert, has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA), at the Port Harcourt International Airport, Rivers State, for allegedly bringing into Nigeria 117 parcels of cocaine concealed in extra-large

Presidential Aspirant, Group Back Barau Jibrin as Senate President Sunday Aborisade in Abuja

has also reiterated its support

as a retirement place.

who become the Senate President

Garba, has stressed the need for the North-west to produce the next senate president.

He said the Senator representing Kano North, Barau Jibrin is better fit to emerge.

This is just as a group, Partners for Legislative Agenda for Nigeria

seen as a retirement place.

Speaking to journalists in Abuja, Garba, who acknowledged the entrance of other aspirants into the race, said Senate Chief Whip Orji Uzo Kalu and former minority leader in the Senate, Godswill Akpabio should not see the Senate

but must be seen as a serious office that will make laws that will shape the destiny of Nigeria and transform the life of its citizens,” Garba said while making a case for Jibrin.

“The horse-trading and scheming is currently on as to

better and mainstream them and make every member of the North West a continuous member of the APC, that would keep guaranteeing us victory in subsequent elections and the only one that has that capacity and competence is Senator Jibrin.

Jubrin to emerge as the next He said: “The office of the of the 10th National Assembly.

Makinde, LGA Boss Commended for An All Progressives Congress for president of the senate.

Senate president must not be seen If we take the Senate Presidency Construction of Community Road (APC) Presidential aspirant in the Garba said the office of the as a retirement home for past to the North West, we will road, Iseyin LGA quarter’s road 2023 presidential election, Adamu senate president should not be governors to while away time, consolidate North West much Kemi Olaitan inIbadan Residents of Ebedi Community Phase II in Iseyin Local Government Area of Oyo State have lauded the state Governor, Seyi Makinde, for approving the construction of 2.65 kilometre road in the community.

This is just as they also commended the LGA Chairman, Hon. Mufutau Abilawon, for making necessary support available for the project completion to be achieved.

The road network, which spanned the Asado road, Bayo Raji

among others, was constructed by the local government following approval by the governor in order to ameliorate the effects of flooding and erosion in the community.

The Chairman, Landlords and Landladies Association of the community, Mr. Mustapha Ibrahim, while speaking during a meeting of the association, said the construction of the community road has eased the burden of motorists and motorcycle riders as well as opened the area to further development, lauding the contractor for a good job.

Senator Adeola Empowers 2,790 with over N200m Equipment Yetunde Bello

The Senator currently representing Lagos West senatorial district at the Senate, Solomon Adeola, has empowered 2,790 trained constituents with over N200 million.

Speaking at the graduation, presentation of certificates and empowerment for teachers and students trained in ICT courses in Lagos, Adeola said as part of his duty to his constituents over the years, he decided that

youths in the constituency are given requisite skills to establish them in gainful self-employment or to broaden their knowledge base.

He also stated that in line with empowering the youths, many trainings focused on skill acquisition, entrepreneurship development and ICT as well as empowerment with equipment and grants had taken place in the past with thousands of beneficiaries now gainfully employed.

Police Visit Family of Slain Youth in Delta, Assure Them Justice ‘ll Be Served

Sylvester Idowu inWarri

The Delta State Police Command, last weekend, paid a condolence visit to the family of the late Mr. Onyeka Ibe who was shot dead by a police officer last Wednesday at a checkpoint along Ugbolu-Illah Road, Asaba.

The police team was led by the Deputy Commissioner of

Police, Operations, DCP. Johnson Adenola, who represented the Delta State Commissioner of Police that was newly promoted Assistant Inspector General of Police, AIG Ari Mohammed Ali. The State Command’s Police Public Relations Officer (PPRO), DSP. Bright Edafe, said: “On April 7, 2023, at about 14.00 hours, the command paid a condolence visit

to the family of late Onyeka Ibe, who was shot dead by Inspector Ebri Ubi on April 5, 2023.

“The Deputy Commissioner of Police, Department of Operations, DCP. Johnson Adenola, standing in for the State Commissioner of Police, AIG Ari Muhammed Ali, led a team of senior police officers, including the Area Commander, Asaba, and the PPRO to the

deceased’s family compound to commiserate with the family.

“In the heartfelt condolence message, the DCP Operation expressed the sympathy of the command with the family over the death of their son,” noting that “every officer in the command shares in the pain and agony of the family members,” she stated.

Brain Drain: Provost Seeks Better Remuneration for Education Graduates Provost, Federal College of Education, (Technical), Akoka, Lagos, Dr Ademola Azeez, has called for adequate remuneration for professionals in the education sector to stem brain drain.

Azeez, who made the call during an interaction with newsmen yesterday in Lagos, said that the current remuneration for education

graduates was generally not encouraging.

He said that while some graduates of colleges of education were without jobs, those who managed to secure employment were underpaid and exploited.

“If you get to primary schools or junior secondary schools, I don’t expect to find university

graduates teaching there.

“It should be NCE graduates because they are trained for that purpose. That’s what they are trained for; they have the temperament.

“As a PhD holder, you can’t ask me to go and be teaching in primary school, I don’t have the temperament.

“So, people working at that

level are meant to be paid well because they are professionals.

“We need to be paying teachers and other professionals very well,” he said.

On the ongoing projects by the college, Azeez said that the construction of the Technical Education workshop, initiated by his administration was about 90 per cent completion.

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NEWS XTRA

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

Owo Catholic Church Reopens 10 Months after Gunmen Attack Bishop urges FG to fish out attackers

St. Francis Catholic Church, Owaluwa, Owo in Ondo State yesterday reopened for service 10 months after the deadly attack on the church by gunmen.

Over 40 worshippers died in the June 5, 2022 attack by gunmen.

However, worshippers who defied fears to attend Easter Sunday service, expressed pleasure for the reopening of the church.

Addressing the congregants, the Catholic Bishop of

Ondo Diocese, Bishop Jude Arogundade, lamented the growing level of insecurity in the country.

Arogundade appealed to the government to ensure that the attackers were brought to book to serve as deterrent to others.

The bishop prayed for the congregants, especially the injured and those that lost their relatives, promising that the church would not abandon them.

Some worshippers who

were unable to control their emotions were seen weeping, while recalling the ugly incident.

Arogundade appreciated the Aids to the Church in Need,

Governor Rotimi Akeredolu and other donors for extending their help to the church.

According to the News Agency of Nigeria (NAN), he asked the

church members to keep praying for those still suffering and in trauma as a result of the attack, stating that the church would continue to comfort those in pain.

He, however, solicited for more assistance from the federal government and the well-to-do in the society for the victims and the church.

15 Killed, Burnt Beyond Recognition in Enugu Fatal Accident All the 15 occupants of a Toyota bus were killed and burnt beyond recognition on Saturday when the bus had a head-on collision with a Mercedes truck on the Port Harcourt-Enugu Highway.

Spokesman of the FRSC, Assistant Corps Marshal Bisi Kazeem confirmed the accident in a statement he issued yesterday

in Abuja.

Kazeem stated that the accident took place at the Enugu end of the highway at about 8.20 p.m.

“The victims have been given mass burial. All obstructions have been cleared. Enugu State Fire Service already extinguished the fire in the bus.

“The fatal crash is blameable

on several factors including fatigue, which must have made one of the drivers to sleep on the wheels,’’ he stated.

Kazeem quoted the FRSC Corps Marshal, Mr Dauda Biu as advising motorists to desist from night journeys to reduce fatalities from road crashes.

He added that Biu noted

that most fleet operators and other vehicle owners, including private vehicle owners addicted to night journeys did so for selfish economic gains.

The FRSC boss observed that most night travellers indulged in overloading of vehicles with passengers and goods.

Bassey Inyang in Calabar

Nigeria meritoriously during his lifetime.

Wayas, who was Nigeria’s Senate president from 1978 to 1983, died about 16 months ago in a London hospital, the United Kingdom.

Their call is coming a few days after the National Assembly described the continuous delay

in the burial of Wayas as a national embarrassment.

The President of Basang community and leader of the 8th Executive Council of Basang Development Association (BDA), a socio-cultural organisation, Hon. Anyawho Sylvanus, in a statement made available to journalists in Calabar,

appreciated the stance of the National Assembly that has demanded a state burial for the remains of Wayas.

The community commended Senator Gershom Bassey, Senator Sandy Onor, and Senator Jerigbe Agom for taking the delay in Wayas’s burial to the National Assembly.

‘How Robbers Carted away N30m Goods in Lagos’ Kinsmen Want FG to Bury, Immortalise, former Senate President, Wayas Three guards of Finesse Security Ltd have been arrested by the police over the looting of a shop and carting away of goods worth over N30 million by armed robbers at Ikota Shopping Complex which borders Victoria Garden City (VGC), Lekki Peninsula, Lagos.

The shop is owned by the Chief Executive Officer(CEO), Superior Mobile Investment Ltd and iClick Gadgets, Dr. Helen O. Eto, who has been doing business peacefully at the facility for about two decades.

The shopping facility is run

by HFP Properties Ltd which hired Finesse Security Ltd. According to Mrs Eto, the robbers struck at the complex that has about 1,850 shops in

the early hours of March 7th, 2023, explaining that guards claimed that they forgot to lock the gate of the facility, allowing the hoodlums to cart away phones and other goods from freshly restocked shop.

Lamenting her ordeal to the police in Ajah and Panti, Yaba, Mrs. Eto said: “We took bank loan for the business plus our savings.

“We plead that the police should help us to get to the bottom of the looting as our blood pressures have shot up sharply because this is our main source of livelihood. A list of the goods looted from the shop was/is attached to my statements at Ajah Police Station and SIB, Yaba.”

Spread Love, Peace at Easter, Glo Urges Nigerians Nigerian telecommunications giant, Globacom, has enjoined Nigerians to spread peace and love as the world celebrates Easter in commemoration of the crucifixion and resurrection of the Jesus Christ.

The company noted in a goodwill message issued in Lagos at the weekend “that Easter reinforced the sacrifice of Jesus on the cross of Calvary, and His resurrection, which symbolises the victory over sin.”

It also congratulated Christians on the successful conclusion of the Lenten season.

Glo said: “Jesus Christ sacrificed himself for the sins of the world.

His life, teachings, love for mankind and obedience to God exemplify the essence of creation. He lived a life of peace and brought salvation to mankind. Christians should

therefore emulate his virtues and live in peace and love.”

The company assured its subscribers of uninterrupted voice, data and Short Messaging Service (SMS) services during and after the Easter celebrations, and encouraged them to avail themselves of the various data and voice offerings on the network to keep in touch with family members, friends and loved ones.

Easter celebrations signal the end of the Christian Lenten season which is a means of purification for the Christian faithful. The festival features acts of worship, including prayer, sacrament, repentance from sins, almsgiving, atonement and self-denial through abstention from food, drinks and other worldly concerns.

The kinsmen of the late Second Republic Senate President, Dr. Joseph Wayas, from Basang, Obanliku Local Government Area of Cross River State, have asked the federal government to bury his remains and immortalise him for serving

Delta 2023: Contractors Defend DESOPADEC MD’s Role Sylvester Idowu in Warri Delta State Oil Producing Areas Development Commission (DESOPADEC) Indigenous Contractors Forum has warned against attempts to rubbish the achievements of the Managing Director of the state interventionist agency, Bashorun Askia Ogieh,

over the recently concluded gubernatorial elections in the state.

The Secretary of the Forum, Mr. Ogie Samson, said at a press conference in Warri yesterday that his group was disturbed by the campaign of calumny by some mischievous people against Askia in spite of numerous achievements

recorded by the DESOPADEC boss while his tenure lasted.

He reiterated that it was the management skills exhibited

by Askia that brought adequate coordination in the running of the affairs of the commission, which also led to zero fraudulent activities among staff and contractors of the agency.

Samson, who was flanked by his Chairman, Chief James Tangbowwi, and the Public Relations Officer, Prince Charles Ebigbagha, noted that the recent inauguration of a permanent edifice by Askia should be commended by all as part of his efforts to save the commission from paying rents.

Bayelsa PicksSunday Medical Bill of Boat Accident Victims service at the King of governor as directing all relevant government will no longer allow

Bayelsa State Government has taken over the medical bills of the victims of last Thursday’s boat mishap at Okoroma community in Nembe Local Government Area of the state.

Governor Douye Diri, yesterday directed the Commissioner for Health to ensure that the state government picks the bill of hospitalised victims.

Speaking during the Easter

Glory Chapel in Government House, Yenagoa, Governor Diri, who sympathised with families that lost individuals in the boat accident, also directed the Health Commissioner to refund to survivors whatever they had spent on treatment.

Diri’s Chief Press Secretary, Mr. Daniel Alabrah, quoted the

authorities in the transport sector, especially those in charge of the waterways, to ensure that all safety measures were duly complied with henceforth to avert another of such accident.

Diri said his administration would not hesitate to sanction anyone found wanting in the discharge of their duties as

such avoidable accidents.

Speaking on the rerun House of Reps and House of Assembly polls for the Southern Ijaw Federal Constituency and Ogbia Constituency 2 respectively, the Bayelsa helmsman called for peaceful conduct of the elections, saying the events that led to the rerun must be avoided.

HarvestPlus Launches Bio-fortified Food Crops in Kano Ibrahim Shuaibu inKano The Country Director of HarvestPlus, Dr. Yusuf Dollah, has disclosed that HarvestPlus has developed and launched bio-fortified food crops that are rich in vitamins and minerals.

The initiative, according to him, will exploit the championing of food transformation in Africa.

Dollah, while speaking to journalists during the unveiling of the two iron-rich pearl millets in Kano, further explained that the first bio-fortified varieties initiative was

built on scaling efforts in India, where the number of farming households growing iron pearl millets jumped 395 per cent since 2021.

He said: “The first bio-fortified varieties of pearl millets to be released on the Africa continent were named Jirano and chakti.”

The Country Director lamented that climate volatility in northern Nigeria has led to decreased crop yields, and nutrients in some of the staples, adding that increased food prices, and heightened food insecurity have worsened cases of malnutrition.

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MONDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

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Osimhen’s Statues Dot Naples as City Eyes First Scudetto in Post Maradona Era The feeling is palpable. The expectations are high. Nigeria’s Victor Osimhen will be part of the history as Naples, which club, Napoli is at the brink of winning first Italian league title in 33 years since the legendary Diego Maradona last played for the club.

With many goals coming from either the boots or headers by Victor Osimhen, Napoli are 16 points clear from the second placed club, Lazio as the Serie A enters its home stretch.

The city is set for celebrations as the entire streets are adorned in sky blue, the colour of Napoli.

Provisions are in place for a party on 4 June – the final day of the season – but Napoli’s wait for a first championship since Diego Maradona strolled these narrow streets could end in the next few weeks. Fifteen points from their final 10 games will make it certain, even if second-placed Lazio win all of theirs.

In the Quartieri Spagnoli, throughout Naples’ historic centre, up to Stadio Diego Armando Maradona in Fuorigrotta and beyond, the streets are decked with blue and white festoons. Buildings and steps have been painted the same hues.

Life-size cutouts of the current squad stand in one piazza, club shirts and player posters are pegged to washing lines in alleyways and youngsters queue for half a block to buy Napoli-coloured panino at popular sandwich shop Con Mollica o Senza.

Among the life-sized cutouts is that of Osimhen, an almost reincarnation of Maradona in terms of goal scoring.

Hotel rooms for the next couple of months have nearly all gone.

Expats wanting to celebrate, football fans intrigued by Napoli’s story and visitors unexpectedly caught up in this historic moment are descending on the city. Sporting success coincides with a tourist boom.

“Naples is experiencing a moment of self-recognition and rediscovery of its greatness,” says author Angelo Forgione.

When Maradona inspired Napoli to a first Scudetto in 1987, fans placed a banner outside the city’s largest cemetery proclaiming: “You don’t know what you missed.”

Victor Osimhen (left) and his Napoli teammates are just few games away from winning the Scudetto for the Naples- based club Now, a generation too young to remember such glory are living it themselves.

“I was six months old in 1990 but I grew up watching VHS of Diego Maradona,” says Vincenzo Credendino, from CalcioNapoli24 TV. “Now this Scudetto is like reconnecting with that time.”

Tributes to Luciano Spalletti’s players intertwine with endless Maradona artwork. He is everywhere in Naples’ charmingly gritty and dizzyingly chaotic labyrinth of streets – bar windows, bumper stickers, on billboards and etched across crumbling walls in giant murals.

At Bar Nilo, a strand of Maradona’s hair rotates as part of a shrine to the Argentine. In an underground museum that belongings acquired by his maid’s son when Maradona

SRS Collections, Ubumwe Grand Hotel, Others Back WCGC 30th Anniversary Celebrations As preparations for the 30th anniversary of the annual World Corporate Golf Challenge gathers momentum, more corporate outfits and individuals have continued to show interest in being a part of the celebration.

SRS Collections, Ubumwe Grand Hotel and Belleza Beach Resort are the latest to join the sponsorship team and have promised a fun-filled weekend with their pledge of a weekend stay for two, with breakfast daily.

Tino Electronics also pledged that the Challenge on the Signature Hole-12 will see golfers go home with brand new Tino Electronics products, such as; Refrigerators and other Appliances.

Grand Cereal also pledged cooking oil to golfers while Dana Air has also pledged five Business Class return tickets on their route.

According to the WCGC representative in Nigeria; Remi Olukoya, the two-day tournament will be fully refreshed by Pepsi with performance from renowned celebrity Disc Jockey; D.J Exclusive

on Saturday while a full band will entertain on Sunday.

“It’s going to be fun, golf and entertainment, all-in-one. It’s a game no one should miss”, Olukoya said.

Knowing what is at stake in the weekend golf show, golfers from across the country have already showed their commitment to be a part of the competition.

NCDMB, Pepsi, Banwo & Ighodalo, Davisther Brokers, Geregu Power, Golden Cereal, Alanku Fertilizer, Upstream Commercial, Meristem, Western Development, QSHOP, Acutech Support, Chairborne GSL, Rebar Perfecta, Dana Air and NNPC Retail would be presenting teams that will battle for honors in the main event while Ubumwe Grand Hotel and Belleza Beach Resort will be playing for trophies staked in the Guests Category.

Winners of the competition will represent Nigeria in Tenerife, Spain; where they will join others for the 30th anniversary celebrations in October.

left the city are on display.

“Maradona is like God here,” says 23-year-old fan Maria Roberta De Iesu. “He gave people hope.

Neapolitans see themselves in Maradona.”

When Maradona arrived for a world record fee from Barcelona in July 1984, the city was still on its knees from an earthquake that killed almost 2,500 people four years earlier. Feuds between the Camorra, the region’s mafia, were as bitter as ever, unemployment was huge and the Bank of Naples was facing bankruptcy.

“Yet in a Naples on the bottom, Napoli, with the help of politics, managed to buy the strongest and most expensive footballer in the world and touch the sky,” adds Forgione.

Then president Corrado Ferlaino had to lean on the city’s mayor to help finance the deal, fans offered contributions to help get it over the line, anything to get Maradona.

‘El Pibe de Oro’ was everything to Naples, and Naples was everything to him. The city resonated with its Golden Boy not just because he inspired their club to two Serie A titles and a UEFA Cup but because they recognised him. He was anti-establishment, he echoed their principles and shouldered their concerns.

“Maradona was really good with his tongue, his mouth, his attitude,” explains Credendino.

“He understood how to get the heart of the Neapolitan people, he touched the right chords.”

Maradona, despite his relationship with the Neapolitan mafia, brought “justice to the people” after struggles against the north that date back more than a century to the unification of Italy, says culture expert Francesco Carignani.

“He had many problems in his life but in Naples we only remember him for the joy,” adds fan Paolo Cimmino. “We connect him as a man to a conqueror – the south won versus the north.”

No club south of Rome has won Serie A since the Napoli of Maradona, Careca, Ciro Ferrara and a young Gianfranco Zola in 1990, and Neapolitans still endure hostile taunts from their northern rivals about crime, poverty, cholera outbreaks and calls for Mount Vesuvius to erupt over the city.

People here “are first of all Neapolitans and then Italian”, explains Bellini, Napoli’s iconic stadium announcer. They have their own language, culture and history. Naples was once a thriving European capital, it remains a city of intriguing architecture, Caravaggio, pizza. Most of all, there

is an intensity to life in Campania.

“Southern people in Italy, they live everything with love, with so much emotion, in different ways to the north,” adds Cimmino.

Napoli had to fall before they could rise again. Financial decline, relegation and bankruptcy followed the glory years but the fans remained. More than 50,000 attended a game in Serie C in 2004-05.

“For our city soccer is so important,” explains journalist Elena Lopresti. “It is not only football, it is a social instrument, a tool to develop us as a society.”

Film producer Aurelio de Laurentiis seized an opportunity to purchase the club in 2004 and restore top-flight and European football to Napoli, the fourth-most well-supported club in Italy after Juventus, Milan and Inter, but one whose fanbase is concentrated in the region, rather than spread “from the Alps to Sicily” as Forgione says of the big three.

“De Laurentiis had a parachute,” adds Credendino. “It was the love of the people, always ready to go to the stadium, always ready to support the team.”

Naples, Forgione explains, is a rare European metropolis represented by a single club.

“Napoli’s victory is the victory

of identity, of those who live it completely,” he adds.

“In Naples, football is everything,” says Cimmino. “It is joy, it is love, it is fun, it is sadness.

It is a way to escape from the daily problems, a way to have fun with the people and party, and this period is happiness.”

The De Laurentiis era has been characterised by astute recruitment – Edinson Cavani, Ezequiel Lavezzi, Jorginho, Gonzalo Higuain – profitable sales, and falling short in the title race.

It was only last summer, after another championship bid slipped away, that ultras promised to return boss Spalletti’s stolen Fiat Panda on the condition he left the club.

“Now he deserves a Ferrari, not a Panda,” laughs journalist Credendino.

Spalletti is not from Naples, but he shares that Neapolitan passion. After being sacked by Inter, he spent two years on his farm in Tuscany before taking on the Napoli job. Now he lives by the training ground working relentlessly to deliver the Scudetto.

Maradona was the face of Napoli’s previous triumph but this time unfamiliar heroes have emerged – cleverly acquired by sporting director Cristiano Giuntoli and fuelled by Spalletti’s coaching.

Liverpool Earn Late Equaliser against Arsenal in Anfield Thriller Femi Solaja with agency report

Roberto Firmino's late equaliser saw Arsenal's lead at the top of the Premier League cut to six points after an incident-packed 2-2 encounter with Liverpool at Anfield.

The Gunners were in cruise control with a two-goal lead inside the first half-hour as they went in search for their first win at Liverpool since 2012, but were left bitterly disappointed as they paid the price for losing their discipline at times.

Gabriel Martinelli pounced on sloppy Liverpool defending to put Arsenal ahead after eight minutes then Gabriel Jesus rose unmarked between Virgil van Dijk and Andy Robertson to head home at the Kop End. Liverpool sparked into life after a flashpoint between Granit Xhaka and Trent Alexander-Arnold late in the first half, Mohamed Salah scoring at the far post just before the break to set up a thriller.

There was a bizarre incident at the end of the first half when referee's assistant Constantine

Hatzidakis appeared to elbow Liverpool defender Robertson as the teams left the field.

In a dramatic second half, Salah missed his second successive penalty when he shot wide after Rob Holding fouled Diogo Jota before Firmino rose at the far post to head home Alexander-Arnold's cross with three minutes left.

In a frantic climax, Arsenal goalkeeper Aaron Ramsdale who had already saved crucially from Darwin Nunez - produced two incredible stops from Salah

and Ibrahima Konate as Mikel Arteta's pace-setters had to settle for a point, with Liverpool fully deserving their share of the spoils for a stirring fightback.

In the final reckoning it is a result that suits neither side, reducing Liverpool's chances of a top-four place even further and offering a boost to Arsenal's title rivals Manchester City, who trailed by eight points at the start of the weekend but have now seen that gap come down by two points and still have a game in hand on the north Londoners.

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MISSILE Arunma Oteh to Nigeria “Every nation is facing challenges...But there’s no excuse for our nation to be where it is today.

We have not invested in infrastructure. We have not invested in education and no country can survive a future without those kinds of investment. Our United Nations Human Development Index was ranked 164 out of 191 countries. So we’re basically enjoying ‘carrying last ‘ with a lot of failed states...we’re very close to it. 133 million Nigerians are in multi-dimensional poverty.

And so, in my view, the new leadership (Tinubu) has a lot of hard work”–Former World Bank Vice President, Arunma Oteh, lamenting the nation’s underdevelopment.

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MAHMUDJEGA VIEW FROM THE GALLERY

Send That Letter to Mar-a-Lago T he novelist Chimamanda Ngozi Adichie’s letter of last week, pleading with US President Joseph Biden not to recognize February’s presidential election in Nigeria because the candidate she supported did not win, was sent to the wrong address.

Instead of addressing it to Mr. Joseph Biden at the White House in Washington D.C, she should have addressed it to Mr. Donald J. Trump at Mar-a-Lago in Palm Beach, Florida, where her election denial story will receive warm reception from a fellow election result denier.

Selling the story of an alleged fraudulent election to Mr. Biden is like selling ice to an Inuit. If Chimamanda’s letter manages to slip through the strict White House vetting system and land in the Oval Office, which is doubtful, it will quickly remind President Biden of his own election in November 2020. His defeated opponent and his supporters repeated the word “fraud” so many times, without a shred of evidence, that it is by now the most detested word in Biden’s ears. He will think, “This Madam must be a Nigerian Trump.”

While most of the world thought America’s election was textbook perfect, Donald Trump tried at every stage to torpedo it, up to and including sending a mob to the Capitol to try to stop Vice President Mike Pence from doing the constitutionally routine certification of Electoral College results.

The novelist’s letter to Biden is a work of fiction, similar to the January 6 mob’s claims.

President Biden knows the fraudulent use of the word “fraud” better than most people. No American court has found evidence of fraud in his 2020 election and all major American media houses, except Fox, have said not a shred of evidence exists. Yet, a Redfield & Wilton Strategies poll last November found that 40% of all Americans and 61% of Republicans still believe that Trump won and Biden stole the election. What do you do to that kind of mindset? That’s in the US;

Chimamanda what do you expect in a Third World country with much less literacy, much higher levels of poverty, almost no ideological or policy education in political contests, and much higher levels of primordial sentiment in political choices?

Chimamanda wants Biden to believe her account of what happened in the Nigerian election. To do so, she wants the US President to ignore whatever he might have heard from his large Embassy in Abuja, the large US Consulate in Lagos, numerous foreign observer missions

including from his own Democratic Party and the rival Republican Party, not to mention the large CIA Station in Nigeria.

The US State Department long ago congratulated President-elect Bola Tinubu on his election victory.

Foggy Bottom is not known to do things carelessly, for the most part. It must have evaluated all the reports available to it and concluded that, despite some unavoidable hiccups, Nigeria’s election was credible. Her letter mentioned rumours she heard of some logistic hitches, violence and intimidation. Were those so widespread that they made the election incredible? Given our level of socio-economic development, who expects us to have absolutely hitch-free polls anytime in this generation?

Chimamanda made much of the failure to instantly upload results on IReV. Whether or not you believe INEC’s explanation for why this happened, it was subsequently done. It is now up to any serious political party and candidate to compare the results on IReV with those brought by its agents at the polling stations, ward, local government and state collation offices for any discrepancies. Chimamanda said in her mis-addressed letter that discrepancies, alterations and cancellations have since been detected. Where?

Why are the opposition parties inside the country not saying so, and it is only her, far away from these shores, that is making this claim?

If indeed anyone detects discrepancies, he should take it to election tribunals, not the White House. President Biden has no power under the Electoral Act to ratify or refuse to ratify Nigerian elections, any more than Vice President Mike Pence had power not to ratify Biden’s own election in 2020. Whether or not Biden congratulates Tinubu, that will not stop his swearing-in on May 29, unless our courts say otherwise. Chimamanda was 6 years old in 1983 so she will not remember that in her native old Anambra State, the Supreme Court stopped the

swearing in of Governor C.C. Onoh on October 1, until it disposed of Jim Nwobodo’s election petition a week later. Supreme Court did the same in Ondo State that year.

At least Chimamanda admitted that she supported the Labour Party candidate Peter Obi, who finished third in the election. She said “opinion polls” predicted his win. She did not add that those “polls” were concocted by Obidient chieftains and were sprung on Nigerians as a preemptive political strategy to lay the ground for trouble in the event of defeat. I have not seen the Political Affairs Office of US Embassy’s report to the State Department, but since it is a keen observer of Nigerian events, it must have pointed out that Obi had almost no political presence in nearly half of the country.

Americans themselves have been holding presidential elections since the 18th century. No one ever got elected president when he did not have effective campaign offices in half of their country. The best showing made by what they call “third party candidates” was by George Wallace in 1968, John Anderson in 1980 and by Texas billionaire Ross Perot in 1996, 13.5%, 6.6% and 19% respectively. With all America’s vaunted sophistication, no third-party candidate ever got elected President in 234 years. Yet, Chimamanda’s candidate seized control of a non-descript party in Nigeria with a few months to the election, unrolled an agenda that is ideologically opposite of Labour Party’s program, have no party structures or even candidates in half of the states, and still claim that he won the election because “opinion polls” predicted it? US Embassy must have noticed that LP virtually fizzled out of the landscape in governorship elections three weeks later.

Chimamanda said the whole country was mute when the election result was declared. I don’t know which part of the country she was at when the results were declared. Where I was, I certainly saw wild celebration.

RIGHTOFREPLY Jega and Dandiga’s Concocted Story

I

consider it auspicious to do a rejoinder to a portion of the article written by Mahmud Jega in THISDAY Newspaper entitled: “Two Chiefs in One Village” concerning where he stated that one Garba Dandiga told him the late Dr. Olusola Saraki lamented that his son and then Governor of Kwara State, Dr. Bukola Saraki did not honour his nominees for the post of Commissioners in 2003 when the latter was in the saddle. The story is a mere fabrication, total falsehood, and untruth.

Without claiming to have all the full details of all the nominations for posts of commissioners and special advisers that were put forward by Baba Saraki to then Governor Bukola Saraki, I can say with good knowledge that the cabinet had a large presence of personalities who had been long time supporters of Baba Oloye, and who were previously not known to the Governor. I was the Majority Leader of the House of Assembly at that time, and it was my responsibility to present the Commissioner-nominees to the legislature

for approval.

In very particular instances, the then Commissioner for Education was the late Dr. Femi Ogunsola of blessed memory. His entry onto the cabinet in 2003, was his second time. He had served, at the same level under former Governor Mohammed Lawal. The first Commissioner for Commerce and Industry under Dr. Saraki’s administration was Alhaji Saka Isemin.

He had served as elected Chairman of the Asa Local Government. The Attorney-General and Commissioner for Justice at the time under reference was Alhaji Saka Isau (now SAN). He was the head of the legal team of Baba Oloye, who handled all legal matters in the courts.

There was Chief Bisi Oloruntoba, Commissioner for Local Government and Chieftaincy Affairs.

He had been the pioneer Chairman of Isin Local Government, whose election then was sponsored

by Baba Saraki.

The representative of the Moro Local government in the Saraki cabinet was Engineer Yinusa Afolabi.

He had been a long-time stalwart of Baba Oloye.

He was a local government chairman and also a member of the House of Representatives in 1992. He was in the legislature that was sacked by the late Gen. Sani Abacha when he overthrew the Interim Government led by Chief Ernest Shonekan.

At the beginning of the Saraki administration in 2003, the Commissioner for Agriculture and Natural Resources was Alhaji Sani Boriya.

He was then, an elderly man in his 60s. The Commissioner that represented Ilorin East LGA in that administration was Alhaja Nimata Ibrahim.

She was a protege of Baba Saraki in any way one wants to define the word. She was the State Secretary of APP, the party led by the late Dr. Saraki and it was that platform that produced Rear Admiral Mohammed Lawal as Governor in 1999. Afterward, she also served the Lawal administration as Commissioner for Education.

Based on my position in the Bukola Saraki as well as my vantage links within the Baba Saraki

fold, many of the nominees were known to me.

They were party men within the circuit of APP to which Oloye Saraki belonged before Dr. Bukola joined PDP and emerged as the gubernatorial candidate, and ultimately the State Governor.

Another issue that shows the claim in the write-up by Jega is not true was the fact that the persons that occupied the offices in the Ministries of Information and Home Affairs; Sports and Culture and also Mineral Resources belonged to the section of PDP. They emerged from the negotiations that were conducted by Baba Oloye, as he moved from his old party. These were Alhaji Raheem Adedoyin; Alhaji Jimoh Adebayo; Alhaji Aliyu Mohammed Lade and Barrister Lanre Daibu, who was the Special Adviser on Local Government and Chieftaincy Affairs.

With the above facts, I do not doubt that the story narrated by Jega in his article is false.

•Omotose was the Majority Leader of KWHA from 2003 - 2007

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