WEDNESDAY 12TH FEBRUARY 2023 by THISDAY Newspapers Ltd

Maintain Tight Monetary Policy to Check Inflation, IMF Tells CBN Obinna Chima and Nume Ekeghe in Washington DC

The International Monetary Fund

(IMF), yesterday, advised the Central Bank of Nigeria (CBN) to maintain its monetary policy-tightening mood in order to cage inflation, which jumped

to 21.91 per cent as of February. The Washington-based institution, in its World Economic Outlook (WEO) titled, “A Rocky Recovery,”

released yesterday, retained Nigeria’s Gross Domestic Product (GDP) growth projection for 2023 at 3.2 per cent.

Speaking at a press briefing to unveil the WEO at the on-going IMF/World Bank Spring meetings in Washington DC, Division Chief,

Research Department, IMF, Daniel Leigh, said, “For Nigeria, our forecast Continued on page 10

Buhari, Atiku, Ohanaeze Mourn as Ex-Anambra Gov, Mbadinuju, Dies at 78... Page 41 Wednesday 12 April, 2023 Vol 28. No 10227. Price: N250

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Chimamanda: Buhari, INEC Blew Last Chance to Emerge Nigeria's Heroes Insists her critics deflecting focus on pertinent issues, deploying ethnicity Says she respects Soyinka, but disagrees with him on 2023 polls Emmanuel Addeh in Abuja Award winning writer and

renowned novelist, Chimamanda Adichie, yesterday ramped up her criticism of the conduct of the 2023

presidential election, maintaining that President Muhammadu Buhari and the Chairman of the

Independent National Electoral Commission (INEC), Mahmood Yakubu, blew the chance to emerge

the new heroes of Nigeria’s fledgling democracy. Speaking on Arise Television,

THISDAY’s broadcast arm in an Continued on page 10

INEC: No Act of Infraction Substantial Enough to Nullify 2023 Presidential Poll Argues same constitutional provisions apply to states, FCT on 25 per cent in 24 states, insists Tinubu won Atiku contends that election petitions put judiciary on trial APC: Tribunal lacks necessary jurisdiction to entertain petition on Tinubu’s qualification, Obi has no locus standi Chuks Okocha, Alex Enumah in Abuja and Segun James in Lagos The Independent National Electoral Commission (INEC), yesterday, came out strongly to defend the election of the presidential candidate of the All Progressives Congress (APC), Bola Tinubu, in the February 25 election, saying alleged infractions not substantial enough to nullify the exercise. INEC, which responded to petitions by Peoples Democratic Party (PDP) and its presidential candidate, Atiku Abubakar, argued that the same 25 per cent in 24 states constitutional requirement that applied to the 36 states of the federation, applied to the Federal Capital Territory (FCT), insisting therefore that Tinubu won the election. In the petition filed by its lead counsel, Mr Abubakar Mahmoud,

INEC, while intervening in the controversy that trailed the alleged abuse of the Bimodal Voter Accreditation System (BVAS), stated that the machine was not designed for real-time results transmission for collation purposes. Mahmoud added that INEC’s Results Viewing Portal (IReV) was not designed and intended for collation of results either. But Atiku, yesterday, said the controversial results of the February 25 presidential election had put the entire judicial system of the country on trial, as the global community watched its handling of the various petitions against the conduct and outcome of the poll. Atiku gave what he dubbed “empirical evidence” of how the presidential election results were manipulated in favour of the presiContinued on page 10

World Medical Association Attacks Lawmakers over Bill Restricting BUHARI IN SAUDI ARABIA... President Muhammadu Buhari (left) being welcomed by the Deputy Governor of Madinat, Prince Saud ibn Khalid Al Faisal to Madinat at the Prince Doctors to Nigeria... Page 40 Muhammad ibn AbdulAziz International Airport ... yesterday

WEDNESDAY APRIL 12, 2023 • T H I S D AY

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

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

NEWS

SUSTAINABILITY REPORTING WORKING GROUP... L - R: Mr. Olakunle Luqman of the Financial Reporting Council (FRC); Mr. Uwadie Oduware of Deloitte; Dr. Iheanyi Anyahara of FRC; Board member ISSB, Dr. Ndidi Nnoli- Edozien; Chair, Nigeria Integrated Reporting Committee, Dr. Innocent Okwuosa, and Mr. Stanley Aniagbaoso, and Mr. Abdulrazaq Abubakar of the FRC, after a session in Lagos…recently

Lawmakers Summon Finance Minister, AGF, Others over Whistleblower Policy, $2.4bn Illegal Crude Oil Sale Allege Ahmed, Malami shortchanging whistleblowers, not remitting recoveries Gbajabiamila laments $10bn revenue loss to oil theft Cabals derailing nation's progress, says ex-lawmaker Whistleblowers protest, seek end to probe Udora Orizu in Abuja Members of the House of Representatives ad-hoc committee investigating alleged loss of over $2.4 billion in revenue from illegal sale of 48 million barrels of crude oil export from 2015 till date have summoned the Minister of Finance, Zainab Ahmed and Attorney General of the Federation, Abubakar Malami and the Secretary to the Government of the Federation, Boss Mustapha, to appear before the parliament to give clarification on

the operation of the whistleblower policy and approvals being made. The House had in December 2022 while adopting a motion sponsored by Hon. Ibrahim Isiaka resolved to look into the matter. At the commencement of the investigative hearing yesterday, in Abuja, relevant stakeholders such as DG NIA, Total, Oriental energy requested for more time to get necessary details before addressing the parliament. With regards to the issue of crude

oil sale, expected to address the lawmakers were the Secretary to the Government of the Federation, Boss Mustapha, Nigerian National Petroleum Company Limited (NNPCL), Nigerian Upstream Regulatory Commission, NEITI, Accountant General of the Federation, Oil and Gas companies who operate who operate fuels and engage in export. Speaking at the hearing, the Chairman of the Ad hoc Committee, Hon. Mark Gbillah explained that the lawmakers were looking

at the issues that have to do with allegations of 48 million crude oil barrels sold in China and crude oil export in general from Nigeria for the period under review. He also said they were also looking at the whistleblowers’ revelations and recoveries, which the federal government had publicly declared that they had made recoveries. While frowning at the absence of finance minister and her counterpart in Justice Ministry, the lawmaker disclosed that they received responses

Afreximbank, ECA Sign Framework Agreement Towards Establishing Special Economic Zones for Electric Vehicles The African Export-Import Bank (Afreximbank) and the United Nations Economic Commission for Africa (ECA) have signed a Framework Agreement with the Democratic Republic of Congo and the Republic of Zambia for the establishment of Special Economic Zones (SEZ) for the production of Battery Electric Vehicle (BEV) and related services. Under the terms ratified in the Framework Agreement, Afreximbank and ECA would play a central facilitating role, acting as the project’s financial and technical partners respectively. The two institutions would lead the establishment of an Operating Company (OpCo) in consortium with investors (both public and private) from DRC and Zambia, as well as international investors such as Afreximbank’s impact fund subsidiary, the Fund for Export Development in Africa (FEDA). This OpCo would develop SEZs dedicated to the production of battery precursors, batteries, and electric vehicle, in both the DRC and Zambia. According to a statement yesterday, ARISE Integrate Industrial Platform (ARISE IIP), a pan-African infrastructure developer, was selected as the technical consultant to conduct the pre-feasibility study for the establishment of the SEZs in DRC and Zambia. The project would deploy wellestablished and proven EV technology that would enable both countries

to exploit their mineral resources at scale. It would also accelerate the manufacture of pre-export value added products, enabling them to capture more value within these states and would result in new demand for skilled engineers with technical expertise, providing a significant boost to local labour markets. “DRC and Zambia are well positioned to establish leadership in the strategically pivotal electric vehicle (EV) sector, being well-endowed with the resources necessary to produce battery minerals. “The DRC accounts for approximately 70 per cent of global cobalt supply and 88 per cent of cobalt exports, and the two countries collectively contribute 11 per cent of all copper supply globally. “Mining is also a critical sector for both states, contributing 70 per cent of Zambia’s foreign exchange, while cobalt accounts for 26 per cent of the DRC’s exports,” the statement added. Commenting on the signing of the Framework Agreement, Afreximbank’s Director of Export Development, Ms. Oluranti Doherty said: “The execution of this framework agreement testifies to a strong commitment by the governments of the DRC and Zambia, Afreximbank and ECA, as well as other partners, to promote inclusive development of the Battery Electric Vehicle value chain, also rendering the DRC and Zambia globally competitive investment destinations. “At Afreximbank, we are firmly

convinced that Industrial Parks and Special Economic Zones are critical tools the continent can deploy to fast-track its industrial infrastructure development, promote Intra-African Trade, accelerate the implementation of the AfCFTA and facilitate Export Development. “This intervention also demonstrates Afreximbank’s commitment to promoting climate finance solutions that will reduce carbon footprints – in alignment with global de-carbonisation trends and a panAfrican narrative around encouraging

a just, sustainable, and responsible energy transition.” For his part, interim Executive Secretary of ECA, Antonio Pedro, hailed the agreement as “an important step in ensuring we have the right enabling policies in place for the region to benefit from the so-called green mineral boom.” Pedro, underscored the agreement’s importance to the implementation of the AfCFTA and the region’s path to achieving sustainable industrialisation and economic diversification.

from the Accountant General’s office which showed that the minister of finance had been approving payments to whistleblowers in percentages at variance with the policy says they should be paid. He also disclosed that there had been allegations of the Attorney General being involved in the receipt of funds from outside the country without the funds being remitted into the federation account in line with the provisions of the constitution. Gbillah, further disclosed that they received formal response from the Central Bank of Nigeria indicating that agencies of government operate their Treasury Single Account (TSA) and make expenditure without recourse to the apex bank. The lawmaker while assuring that the parliament would not allow Nigeria's Commonwealth to be fritted away, vowed that they would use the necessary instrument to compel the relevant stakeholders to appear. He said, "This is a formal request from the committee that the Minister of Finance, Minister of Justice and Attorney General to appear before this committee because they have received formal invitation to do so. “And a lot of what we have to investigate regards to whistleblower policy is saddled within the ministry of finance and the attorney general of the federation. “There have allegations that

there has been expenditure of these recoveries have also been done in complete violation of the provisions of the constitution. "The CBN made a formal response to this committee indicating that the TSA policy of this administration agencies operate their Treasury Single Account and make expenditure from these accounts without recourse to the CBN. “This is something that’s alarming for the CBN to declare before us, because we are aware of constitutional provisions that state all revenue accruing to the federation must be paid into the federation account. So if there are recoveries being made from whistleblower these monies need to be paid into the account of the federation as required by law. "There are certain individuals we need to investigate, certain whistleblowers’ revelations show that from the Paris Fund refund hundreds of millions of dollars were paid into company account without any record of services provided to the country and these are things that needs to be investigated." Declaring the hearing open, the Speaker Hon. Femi Gbajabiamila lamented that in January and July 2022 alone, Nigeria lost $10 billion to crude oil theft. Continued on page 42

AECN Decries over One-year Electricity Debt Manufacturing Companies Owe Aba Power Seeks action against theft of electricity equipment Dike Onwuamaeze The South-eastern zone of the Association of Electricity Consumers of Nigeria (AECN) has decried the debt burden on Aba Power Limited that arose from the refusal of big manufacturing firms to pay for the power they utilise. The AECN also criticised the level of energy theft in the Aba Ring-fenced Area in Abia State. This was disclosed by the Chairman of South-east AECN, Mr. Joe Ubani, who described tampering of electricity facilities as a key security threat and deplored the,

“practice where some manufacturing companies owe Aba Power for over one year, with some firms conniving with corrupt technical staff members to bypass their meters.” He added: “There are some companies that pay N8 million a month to compromised Aba Power staff rather than pay the company for the power they utilise, according to the AECN. “The result is the new load shedding in the ring-fenced area, causing problems for everyone. “The Niger Delta Power Company which currently supplies electricity to Aba Power because

the 141-megawatt Geometric Power plant in the Osisioma Industrial Layout in Aba is not yet 100 per cent ready, provides power to the Aba Ring-fenced Area based on what the residents and businesses pay. “Power supply has reduced in the last few weeks because many persons and firms have not been paying. “They behave as if the federal Government still owns, operates and subsidizes the power firms whereas the firms are now privately owned and they pay for everything to the last kobo.” The AECN therefore encour-

aged Abia people to pay Aba Power, which it described as a utility genuinely out to make a fundamental difference in Abia State in particular and Nigeria as a whole. The AECN also criticised the level of energy theft going on in the Aba Ring-fenced Area in Abia State as well as the high number of deaths caused by roadside electricians and other persons hired by communities, companies and individuals, “to do all kinds of things on distribution transformers, low and high-tension wires, among other electricity infrastructure.”

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NEWS

WALKING DOWN THE AISLE... L-R: Wedding Sponsor, Hon. chief Eke Ikechukwu; Imo State Governor, Senator Hope Uzodimma; Mr & Mrs Gideon Orji, and Wife of the Governor, Mrs. Chioma Uzodimma , after the wedding of Special Adviser, Domestic, Miss Francisca Uzodimma held at CKC Alvan Chaplaincy, Owerri…recently

Stakeholders Fret over Perceived Starlink’s Dominance of Nigeria's ISP Market Emma Okonji Some stakeholders in the telecommunications industry have expressed concerns over the perceived dominance of Starlink in Nigeria's Internet Service Providers (ISPs) market. Starlink is a satellite internet service provider, with presence in Nigeria, whose ownership is linked to one of the world’s richest men, Elon Musk who recently bought over Twitter for $44 billion. The stakeholders expressed their worries at the Telecom Sector Sustainability Forum (TSSF 3.0), organised recently in Lagos, by Business Remarks, with the theme: "Starlink: A Threat or Prospect to the Sustainability of Nigeria ISPs, MNOs and Infracos.” Acknowledging the fact that the emergence of Starlink re-introduced satellite internet technology to the market space, Nigeria ICT stakeholders, however noted that the telecoms regulator needed to address the business model to protect local players and create healthy competition. SpaceX’s satellite internet service, Starlink, announced its availability in Nigeria, months after it signed an agreement with the Nigerian

government to bring in its satellitebased internet service to Nigeria, thereby, making Nigeria the first African country to use satellite internet and 46th in the world. Starlink was included alongside 37 other Internet Service Providers (ISPs), increasing the number of ISPs issued licenses to operate in Nigeria to 255 as of September 2022, up from the 187 that was reported in December 2021. Speaking at TSSF 3.0 Forum, the Chief Executive Officer, eStream Network Mr. Muyiwa Ogungboye, who was represented by the Company’s Chief Operating Officer, Mr. Martins Akingba, said Starlink could be a threat to the local ISP market in Nigeria. "As a local ISP player, the advent of Starlink makes us question if the regulator is really careful of the investments made by players in this industry, because millions of naira have already been invested in infrastructure even in the underserved areas," Ogungboye said. Also speaking, the Chief Executive Officer, Pan African Towers, Azeez Amida, who was also represented by the General Counsel, Babatunde Olaniyan, said Starlink might both be a threat and a prospect but added that the

wide adoption of the 5G network in Nigeria would pose a greater challenge to the solution. On his part, the Chief Executive Officer of VDT Communications, Mr. Biodun Omoniyi, encouraged local players not to see the solution as a threat because Starlink is a leo-satellite, not too far fetch from the satellite technology. He posited that as a disruptor, local players need to identify the gaps and fix them to have an edge over the solution. The Chief Executive Officer,

Mastercard yesterday announced that it was accelerating efforts to remove first–use, PVC plastics from payment cards on its network by 2028. It stated that the move further reinforced the company’s sustainability commitments and scales the accessibility of more sustainable card offerings for consumers seeking a way to reduce the environmental impact of their wallet. Mastercard in a statement, said from January 1, 2028, all newly–produced plastic payment cards would be required to be made from more sustainable materials – including recycled or bio-sourced plastics such as rPVC, rPET, or PLA - and approved through a certification program, in a first move for a payment network. The company said it would support its global issuing partners through the transition away from virgin PVC. Mastercard launched its Sustainable Card Program in 2018. Since then, over 330 issuers across 80 countries have signed up, working in partnership with major card

manufacturers to transition more than 168 million cards across its network to recycled and bio-based materials. The announcement further accelerates these efforts, while also complimenting the company’s work to deliver innovative, digital-first card programs that fully eliminate the need for a physical card offering. President of Cyber and Intelligence at Mastercard, Ajay Bhalla, said: “At Mastercard we are leading and shaping our industry’s collective pursuit of a more sustainable, more environmentally conscious future. “As our customers respond to increased consumer desire to make eco-friendly choices, we are making a firm commitment to reducing our environmental footprint – for the benefit of people, planet and inclusive growth.” The Chief Sustainability Officer for Mastercard, Ellen Jackowski, said: “Mastercard is committed to advancing climate action and reducing waste by driving our business toward net zero emissions and leveraging our network and scale to accelerate the transition to a

done to checkmate it. Awonuga urged NCC to create a level playing field for operators bringing to remembrance the extinction of CDMA in the Nigerian Telecoms market. He also made case for affordable internet service for consumers. In addition, the Executive Secretary of the Association of Telecommunications Companies of Nigeria (ACTON), Mr. Ajibola Olude, stated that the regulatory safety might be weak, once there is no balancing game.

He also urged NCC to create guidelines to safeguard local players. In her welcome address, the convener, Bukola Olanrewaju who also doubles as the Managing Editor of Business Remark, stressed that given the internet’s increasingly important role as a communication tool, internet connectivity has become a vital component of daily lives, and many nations have embarked on ambitious projects to expand and improve access to the internet.

Jonathan, Wike, Ngige Mourn Nimi Briggs Uniport declares five-day mourning Onyebuchi Ezigbo in Abuja and Blessing Ibunge in Port Harcourt Former President, Dr. Goodluck Jonathan, Rivers State Governor, Nyesom Wike and Minister of Labour and Employment, Senator Chris Ngige, have expressed sadness over the passing of former Vice Chancellor of the University of Port Harcourt, Prof. Nimi Briggs, who

Mastercard Moves to Accelerate Sustainable Card, to Remove PVC Plastics Cards by 2028 Emma Okonji

Equinoxcore Technology, Mr. Lanre Olanrewaju, spoke on the challenges that subscribers are facing such as loss of money, fraud, poor signal quality due to poor installation, data loss, and irregularity in the cost of gadgets. Expressing his concern, the Head of Operations, Association of Licensed Telecoms Operators of Nigeria (ALTON), Mr. Gbolahan Awonuga, said the licenses given to Starlink might lead to the extinction of ISPs and also the domination of the market space if nothing is

low-carbon, regenerative economy.” Also, the Group Head of Retail Banking and Strategy, Wealth and Personal Banking at HSBC, Taylan Turan, said: “The announcement from Mastercard is a huge step for financial services. New sustainable materials, such as rPVC, offer our sector a clear way to accelerate its efforts to build a more sustainable future. “As part of our net zero strategy at HSBC, we’ve already introduced recycled plastic payment cards across 28 of our global markets and embedded the requirement to use sustainable materials for all debit, credit and commercial cards in our product governance, thus removing 85 tonnes of plastic that would have ended up in landfill.” Head of Payment Solutions, Senior Vice President at Bank of the West, Michael Battagliese, said: “We believe that conducting business sustainably is simply the right thing to do. That's why we partnered with Mastercard on our one per cent for The Planet Checking Account debit cards, which are designed to reduce the impact of first-use PVC on the environment.

died on Monday. This was just as the management of the University of Port Harcourt (Uniport) yesterday declared 5-day mourning for the former Vice Chancellor of the institution. In a condolence message to the Briggs family, the former president described Briggs as a distinguished academic and renowned professor of medicine. Jonathan, in a statement, noted that late Briggs was a great administrator who contributed so much towards the growth of education in the country and did so much to promote human advancement. He stated: “I condole with the Briggs family, his friends and professional colleagues from the academia as well the Medical and Dental Council of Nigeria (MDCN) on the death of Prof. Nimi Briggs. “Prof. Briggs was a renowned scholar, an accomplished physician and an excellent administrator who served twice as the Vice Chancellor of the University of Port Harcourt and handled other national assignments in the course of his life journey. “Prof Briggs will be remembered for his patriotism and contribution to national development especially in the fields of medicine and education. “I pray that God comforts his family, friends and professional colleagues and urge them to take solace in the indelible strides of the departed patriot.” On his part, Wike expressed shock over the death of Briggs. In a statement by his Media Assistant, Kelvin Ebiri, Wike described the death of Briggs who once served as chairman of both Rivers State Independent Electoral Commission (RSIEC) and Rivers State Economic Advisory Council, as a sad moment for the government

and people of Rivers State. Wike, noted that Briggs was not only an exceptional obstetrics and gynaecology teacher, but also an astute administrator who was committed to the common good of humanity. The Rivers State governor, while acknowledging the contributions of Briggs while he served in RSIEC and the Rivers State Economic Advisory Council, stressed that his passion, vision and relentless pursuit of better and progressive Rivers state would remain a source of inspiration to generations to come. "I am very shocked and sad to hear that Emeritus Professor Nimi Dimkpa Briggs has passed on. He was indeed symbol of commitment and dedication to the medical profession, our dear Rivers State and the nation. His contributions to public health and service were immeasurable,” the statement added. Also, Ngige in a statement signed by the Director of Press and Public Relations, Federal Ministry of Labour and Employment. Olajide Oshundun, recalled that besides piloting the affairs of the Committee of Pro Chancellors of Nigerian universities, Briggs did all within his powers as the Chairman of the Committee of the Federal Ministry of Education on Renegotiation of Conditions of Service of university workers, to resolve the industrial crisis in the university system on the negotiation table, but to no avail. The minister particularly remembered the dexterity with which Briggs played his role as a pivotal point during the eight-month strike of the Academic Staff Union of Universities (ASUU), trying to bring his colleagues to embrace dialogue, but it yielded no fruits. Ngige paid glowing tributes to the late Professor for his contribu-

tions to intellectualism and the field of Medicine, particularly in the area of obstetrics and gynecology, saying his achievements in the academia remain indelible. While extolling the administrative ability of the deceased, Ngige recalled that he first served as the Acting Vice Chancellor of UNIPORT from 1995-1996, before his appointment as substantive Vice Chancellor, serving from 2000-2005. "Apart from rendering service, he put down all his experiences as a university administrator in a book, titled 'Thoughts on University Education in Nigeria (2000-2005).' He was the founder and Chairman of the Committee of Vice Chancellors and former Chairman of the Board of the National Hospital Abuja. "In addition to his contributions to the academia and university administration, he contributed intellectually through his writings in bringing peace to the Niger Delta during the days of armed militancy in the region." Meanwhile, Uniport has declared 5-day mourning for the former Vice Chancellor of the institution. In a statement signed by the University Registrar, Mrs. Gloria Chindah and made available to THISDAY yesterday, also stated that within the days of mourning, the university’s flags would be flying at half-mast in honour of the late former VC. The late Briggs, served as the 5th Vice- Chancellor of University of Port Harcourt between 2000-2005. Until his death, he was the ProChancellor of Federal University, Abakaliki, Bayelsa Medical University, Yenagoa and Chairman, Committee of Pro-Chancellors of Nigerian Universities. He was a renowned Professor of Obstetrics and Gynaecology.

WEDNESDAY APRIL 12, 2023 • T H I S D AY

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

NATIONAL ENERGY EFFICIENT AND CLIMATE-FRIENDLY COOLING IN NIGERIA... L-R: Director-General Energy Commission of Nigeria (ECN) Prof. Eli Jidere Bala; Minister of Science, Technology and Innovation, Sen. Adeleke Olorunnimbe Mamora Exchanging pleasantry with the Programme Management Oﬃcer, United Nations Environment Programme (UNEP) Mr. Brain Hoji at the National Stakeholders’ Consultative Workshop on Energy Eﬃcient and Climate-Friendly Cooling in Abuja recently

Despite Court Order, AMCON Denies Arik Air Founder, Arumemi-Ikhide Entry to Company’s Premises Chinedu Eze The Asset Management Corporation of Nigeria (AMCON) yesterday denied the Founder and Chairman of Arik Air Limited, Joseph Arumemi-Ikhide access to the company’s head office at the Murtala Muhammed Airport, Lagos, despite a court order granting directors and shareholders of the airline unfettered access to the premises. The Chairman of Arik with some of his aides tried to enter the premises of the airline in line with the court order, but were refused, as

the Chief Security Officer (CSO), Mr. Tom West stopped Arumemi-Ikhide at the entrance of the company and insisted he was directed by the Receiver Manager, Mr. Kamilu Omokhide not to allow him come into the company’s premises. On February 9, 2017, AMCON took over the management of Arik Air and appointed Kamilu Omokhide as Receiver-Manager for the airline. In 2021, Joseph Arumemi Ikhide, and his wife, Mary Arumemi Ikhide (plaintiffs) filed an originating summons dated December 14, 2021, and prayed the court that

the duty imposed Omokhide (first defendant) by section 553 of the CAMA 202O to act in the best interest of Arik Air Limited as a whole, including the duty to act in the best interest of the plaintiffs (Arumemi and Mary Ikhide) as members of Arik Air Limited. Arumemi-Ikhide in the suit also sought an order directing the 1st & 2nd defendants, "to allow the Directors and Shareholders of Arik Air Ltd unfettered access to their offices, premises of the Plaintiff, facilities and staff required for the discharge of their functions." Following the court order which

ruled that the receivership of Arik Air does not preclude restricting access to the premises, the Arik Air founder made an attempt to enter the premises of the airline yesterday, but was stopped at the entrance by the security guards on duty. THISDAY witnessed the incident when West said there was an order from above not to allow the Arik founder access to the premises. But when Arumemi-Ikhide insisted to know who gave the directive, West said Omokhide had directed he should not be allowed into the company’s facility.

Okowa Inspects More Projects in Delta Works Ministry pushes for Ughelli-Asaba Road completion Omon-Julius Onabu in Asaba In line with the administration's pledge to maintain the tempo of work until the eve of the handover to a new administration on May 29, 2023, Governor Ifeanyi Okowa of Delta State would continue the inspection of various projects across the state this week and next. This is coming on the heels of directives to the respective supervisory ministries to liaise with contractors handling a number of critical projects with a view to stepping up work to ensure that the projects are completed and ready for inauguration in the next few weeks. The Commissioner for Information, Mr. Charles Aniagwu, disclosed this while briefing newsmen on some decisions reached at yesterday's State Executive Council (EXCO) meeting at the Government House Asaba presided over by Okowa. Aniagwu said the state government gave an ultimatum to the State Ministry of Works to ensure that Section C2 of the Ughelli-Asaba Road

dualization project was completed as scheduled in the lifespan of the Okowa administration. A lot of work had been done on the particular section, which runs from Koka Flyover/Interchange to Ogwashi-Uku Junction, he noted, adding that the remaining part of the road project would be completed by the incoming administration. Aniagwu said, "The governor has also given marching orders to the Ministry of Works to impress it upon the contractor handling Section C2 of the Ughelli-Asaba Road dualization project the government's instructions. The Section has to do with the Koka interchange up to the Ogwashi-Uku Junction. "The import of the order is to enable us have the privilege of inaugurating that particular corridor before we exit on the May 29, 2023. "Our initial intention was that we would be able to complete work on that road entirely before we leave but for the effect of the flood that took place in 2022, which did not only disrupt construction work but

Buhari Arrives Madinah, Prays at Prophet's Holy Mosque Deji Elumoye in Abuja President Muhammadu Buhari yesterday arrived in Madinah, Saudi Arabia, for the commencement of an eight-day official visit. Upon his arrival, he was received by the Deputy Governor Sa’ud Khalid Al-Faisal. According to a statement issued

by presidential spokesperson, Mallam Garba Shehu, the president visited and prayed at the Prophet's Holy Mosque in the evening and greeted Prophet Muhammad (peace be upon him) and his two companions. At the entrance of the Prophet's Holy Mosque, the President was received by a number of officials.

also undermined the work done. "We are quite optimistic that we will be able to deliver Section C2. For the other sectors, we are committed to the work but because the rains are here, we will not because of haste mortgage quality of work. We are not interested in delivering any work that will not stand the test of time." The EXCO also gave approval for the construction of Alihagu Road, Umudein Street as well as Orewa Street all in Ika South Local Government Area of the state, he said. The cardinal goal of the Senator Ifeanyi Okowa-led administration was to connect all communities in the state with motorable roads, Aniagwu stated. The Secretary to the State Government (SSG), Chief Patrick Ukah, has been mandated by EXCO to liaise with the authorities of Warri/ Uvwie and Environs Development Agency (WUEDA) on ways to fast track the process of actualising the flood control projects in the area, he further revealed. Aniagwu explained that the project was expedient owing to the fact that no roads could stand the test of time if the flood challenge in the area was not adequately addressed. "At today's Exco, we approved some roads for construction. We also gave instructions to supervising ministries to reach out to different contractors handling a number of critical projects. "The governor will in the course of the week and next week, continue to inspect projects. He has directed that the SSG should liaise with the authorities at the Warri/Uwvie and

Environs Development Agencies (WUEDA), for the purpose of fast-tracking the control of flood in the Warri axis. "Our commitment to control the flood in the Warri axis is with the view to allow government to proceed to construct roads in dire need of rehabilitation or construction. "If we don't address the flood challenge in that corridor before constructing the roads, we will only be doing the wrong thing because when the floods come, it will not only destroy the roads but also, ravage the homes around the roads.

"The Receiver Manager gave an instruction not to allow you in. I am not aware of the court order, but I read media reports indicating that," the CSO was quoted to have said. "I'm very sorry that I'm keeping you people under the sun. We have the directive to deny you access. I'm obliged to respect the directive from Receiver Manager," he added. Arumemi-Ikhide had told the CSO that he was not at the premises to harass anybody or cause any problem, but to respect the order of the court which had granted him access into the premises of the airline. He said he had a meeting with the Chief Operating Officer and Chief Finance Officer of Arik Air that he would be coming around on Tuesdays and that some offices should be reserved for him which they agreed and expressed surprise that he was being denied access into the premises. "I was in the Arik Complex today (Tuesday) pursuant to the order of the Federal High Court in the suit no FHC/L/CS/1175/2021 that I should be given unfettered access into my offices in Arik Air, an order to perform my duties with my team. "The court having affirmed that notwithstanding the appointment of a Receiver Manager, that the organs of Arik Air remain intact and those organs such as the board and shareholders must be allowed to function. It is because of that that I, being chairman of the board,

came to the office today. "Being aware of the service of the order of court on the company and having met the management led by Capt. Roy Ilegbodu (CEO) on Wednesday 4th April 2023, with whom I discussed the orders made by the court and our intentions to adhere strictly to including the orders of court to be given office spaces. "We both agreed that the orders of Court must be obeyed. We agreed that I and my team will resume this morning 11th April 2023 to my greatest surprise and shock I was barred entry by Tom West, the CSO, who claimed that he has strict instructions of Kamilu Omokide, the Receiver Manager to deny me and my team access contrary to the orders of court," Arumemi-Ikhide said. He said every persuasion with certified copies of the orders of court, earlier served on Arik Air by the court were discountenanced, adding that as a law abiding citizen, he and his team decided not to press further by insisting to enter the premises but rather kept to the processes of the law by reporting to appropriate authorities. The Chairman later left the premises and proceeded to the Murtala Muhammed Airport Domestic Division of the Nigeria Police Force where he wrote a statement. He said he would report back to his lawyers who would take up the matter from there.

Otti Names Onyemkpa, Omoigui-Okauru, Oteh, Others in Transition Council Emmanuel Ugwu-Nwogo in Umuahia Abia State governor-elect, Mr. Alex Otti has constituted a transition council made up of distinguished professionals and technocrats in business, economics, entrepreneurship and politics in readiness for his inauguration on May 29. In a statement issued yesterday, by the council’s secretariat, Otti said the members of the transition council would help to articulate a policy document that would point the direction of his developmental agenda for Abia. The council would be chaired by Partner and COO, KPMG, Victor Onyenkpa and co-chaired by former Executive Chairman of the Federal Inland Revenue Service

(FIRS), Ifueko Omogui-Okauru. Arunma Oteh, former Director General of Nigeria's Securities and Exchange Commission (SEC); former Treasurer and Vice President of the World Bank and currently a Director at FSD Africa, an international development agency focused primarily on financial markets in sub-Saharan Africa, is also on the Council. Other members of the transition council include Professor Ndubuisi Ekekwe, a Nigerian-born inventor who helped Apple to design a semi-conductor for the iPhone; Mr. Uche Orji, the immediate past CEO of Nigeria Sovereign Investment Authority (NSIA). The Council which would be inaugurated on Friday, April 14, 2023, by the Abia governor-elect in

Aba also has Victor Okoronkwo, GMD of Aiteo Oil and Gas; Mr. Frank Nneji, Founder of ABC Transport Company; and Ide John Udeagbala, an Aba-based business mogul as members. According to the statement, the choice of Aba, the commercial nerve centre of Abia State for the inauguration of the council "is strategic as well as significant." "Enyimba City (as Aba is fondly known) is the centrepiece of the incoming Alex Otti government's economic and infrastructural development plan," it added. Otti had promised during the campaigns to create a ministry for Aba, to take charge of the urban and physical renewal of the once foremost commercial and industrial hub of South East Nigeria.

WEDNESDAY APRIL 12, 2023 • T H I S D AY

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

TEN

Yellen Downplays Banking Woes, Says World Economy Has Improved United States Treasury Secretary, Janet Yellen has shrugged off recent banking spasms to declare the global economy better off than six months ago as she laid out her agenda for a week of meetings with global finance officials in the US capital. Yellen recalled that in February, she had described the global economy as being “in a better place than many predicted last fall," before adding, “that basic picture remains largely unchanged," according to the text of remarks she’s scheduled to deliver Tuesday in Washington. The Treasury head is scheduled to take questions from the media following her remarks, which come at the beginning of the World Bank and International Monetary Fund’s spring meetings, accor Yellen’s somewhat upbeat reading

comes despite the dramatic failure of two mid-sized US lenders in March that threatened to destabilize the financial system and undermine

growth. The near-collapse of European banking giant Credit Suisse Group, also in March, shook investors worldwide.

Yellen, a former chair of the US central bank, made only a glancing reference to the tremors in her prepared remarks, before voicing

confidence in international financial infrastructure. “The US banking system remains sound, with strong capital and liquid-

ity positions," she said. “The global financial system also remains resilient due to the significant reforms that nations took after the financial crisis."

Kentucky,Tennessee Leaders Call for Tighter Gun Control After Mass Shootings Kentucky and Tennessee political leaders have called for tighter controls on guns, including tougher laws preventing people in crisis from accessing firearms, after two mass shootings killed 11 people in Louisville and Nashville. A bank employee shot dead five colleagues and wounded nine other people at his workplace in Louisville, Kentucky, on Monday. On March 27, three 9-year-olds and three staff members were killed at a private

Christian school in Nashville, Tennessee, by a former student. Tennessee Governor Bill Lee urged General Assembly members to find a compromise to bolster the state’s so-called “red flag” laws, aimed at making it more difficult for people deemed to be a threat to the public or themselves from having access to firearms. According to Reuters, such legislation would supplement an existing law allowing courts to bar

perpetrators of domestic abuse, sexual assault, and stalking from owning or possessing firearms. Lee’s call for cooperation followed the Republican-dominated Assembly’s expulsion of two Black Democrats who staged a protest in the Tennessee State Capitol calling for tighter gun controls. The governor also said he would sign an executive order requiring local courts to report criminal records to state law enforcement within 72 hours,

a measure aimed at more effective screening of those purchasing guns. Lee called on the legislature “to separate those dangerous people from firearms, while at the same time preserving the constitutional rights of the people of this state” at a news conference in Nashville on Tuesday. At a news conference in Louisville, U.S. Representative Morgan McGarvey urged federal lawmakers to support universal background checks. The

Democrat said that during his time in the state legislature, he worked with conservative colleagues to introduce laws that would help temporarily remove firearms from people in crisis. McGarvey pointed out that the Louisville shooter could have been flagged as a risk, citing reports that the man legally purchased the assault-style rifle he used on April 4, and texted or called someone to tell them he was suicidal and contemplating harm before carrying out the shooting.

INEC: NO ACT OF INFRACTION SUBSTANTIAL ENOUGH TO NULLIFY 2023 PRESIDENTIAL POLL dential candidate of the governing All Progressives Congress (APC), Bola Tinubu. He claimed that the cancellation of some 51,602 polling units altered the poll results in favour of APC. The leadership of APC also rose in stout defence of Tinubu’s victory. It said, contrary to the allegations by Atiku and the presidential candidate of Labour Party (LP), Mr. Peter Obi, the presidential election was conducted in substantial compliance with the Electoral Act, 2022. APC insisted Tinubu won. APC also claimed the alleged unlawful nomination of its vice presidential candidate, Senator Kashim Shettima, and the allegations of conviction involving the president-elect were issues outside the jurisdiction of the election petition tribunal. INEC, while maintaining the sanctity of the February 25 presidential election, insisted that the declaration of Tinubu as president-elect was in total compliance with the constitution, Electoral Act, 2022, and INEC's Regulations and Guidelines for the Conduct of Elections 2022. Responding to the petition filed by Atiku and the PDP, INEC claimed, "No act of non-compliance (if any) was substantial enough to have affected the outcome of the election or result declared." In the petition filed by Mahmoud, the electoral umpire stated that the election of Tinubu was valid and not marred by reason of corrupt practices, as alleged by the petitioners. It pointed out that at the time of the election, Tinubu was qualified to contest, having met the requirements of the Constitution of the Federal Republic of Nigeria 1999 and the extant Electoral Act. INEC stated, "That the summation of the result declared is consistent with the number of duly accredited voters. There was no act of infraction, as alleged by the petitioners, that is substantial enough to nullify the election."

INEC claimed that it had since 2011 made concerted efforts to improve the quality of elections by the use of appropriate technology and technological devices, such as Permanent Voter Card (PVC), Electronic Voter Register (EVR), and (BVAS), among others, to enhance the ease, credibility, transparency and integrity of the electoral process. It told the tribunal that the BVAS machine "was not designed for real time transmission of election results for the purpose of collation." The commission stated that the public statements credited to its chairman and other officials referred to in paragraph 19 of the petition were statements assuring the public of its commitment and determination to continue the use of technology and

technological devices to enhance the quality, transparency, integrity and credibility of the electoral process as provided under the Electoral Act 2022. It stated, "Contrary to the assertion of the petitioners in paragraph 19 of the Petition, the 1st Respondent has no electronic collation system by which real-time transmission of polling unit results was to be made or that such alleged electronic transmission of polling unit results was to form the basis for the collation of results at various collation levels. "The 1st Respondent further states that although it is empowered by the Regulations to prescribe an ‘Electronic Collation System’, none was prescribed by it for use during the 2023 general election,

including the presidential election of 25 February 2023.” INEC further pointed out that its Results Viewing (IReV) Portal was created to give its officials and the general public access to the National Electronic Register of Election Results for validation of results uploaded using the BVAS device, adding that the IReV was not designed and intended for collation of results. INEC claimed that despite the technical glitches experienced on election day with regard to upload of polling unit election results of the presidential election of February 25, 2023, it kept its promise to Nigerians in conducting free, fair, transparent and credible elections by deploying the BVAS device in conducting accreditation of voters electronically

uploading of election results to the IReV portal is NOT a condition precedent to the declaration of the winner of an election under the Electoral Act. The Act does not require the 1st Respondent to transmit results to the IReV portal before determining or declaring the winner of the presidential election. "The 1st Respondent states further that it had all the physical hard copies of the results sheets from which it collated and tabulated the scores of the candidates. It states further that the result sheets were uploaded via its e — transmission system to the IReV portal.” Responding to the petitioners’ claim that it erred in law, when Continued on page 43

CHIMAMANDA: BUHARI, INEC BLEW LAST CHANCE TO EMERGE NIGERIA'S HEROES interview, the novelist also noted that while Nobel Laureate, Prof. Wole Soyinka still has her respect, the playwright’s assessment of the poll was incorrect. Adichie maintained that INEC’s excuse that there were technical glitches in real-time uploading of presidential election results was unbelievable, insisting that it was done on purpose to manipulate the outcome of the election. She pointed out that one of the most glaring evidences of the manipulation of the poll were mutilated election sheets and polling units agents publicly speaking about how results from the polling units were different from official announcements. “It was not about technical glitches. Can we also realise that Nigeria is full of very bright young people in tech. There's no reason for that excuse of technical glitch. And the other question then is, if it was a technical glitch, why was it possible for most people to upload the results of the other federal elections, but not the presidential? “And I think most of all, is that

there's just been this resounding, unfortunate silence from INEC and from the chairman of INEC. I think Nigerians deserve the respect of an institution that's supposed to shepherd their democracy. So nobody has come out to explain to Nigerians how that happened. “There's a statement about technical glitches that is not convincing. And knowing how much hope and trust that Nigerians invested in this election, knowing that Nigeria is a low trust society, I think that if people really are sincere and there's really nothing to hide, then you make an extra effort to go out and explain to Nigerians what happened,” she argued. Adichie had come under heavy criticism, especially from supporters of the president-elect, Mr Bola Tinubu, after she wrote a letter to the American President, Joe Biden, advising him not to congratulate the All Progressives Congress (APC) chieftain because the process that produced him was deeply flawed. The 45-year-old author of Purple Hibiscus, Half of a Yellow Sun, Americanah, among other globally

acclaimed novels, explained that those who were attacking him were deflecting focus from the real issues she raised and attributing her action to tribalism and ethnicity. She posited that she did not support Peter Obi of the Labour Party (LP) because he’s Igbo but because of his record of performance, especially his love for education. Adichie pointed out that she had never been fazed by criticism, insisting that she wrote Biden knowing full well that there will be criticism from certain quarters. She posited that the rigging of the poll started when Nigerians, including herself, who wanted and fought hard to collect their Permanent Voter Cards (PVCs), were frustrated from doing so. “I tried very hard because I had been assured that technology would save us... and we should also talk about how difficult it was to collect PVCs and how that in itself is a form of voter disenfranchisement,” she opined. Doubling down on her criticism of the INEC chairman, Adichie, a 2008 McArthur Fellow, argued that

M A I N TA I N T I G H T M O N E TA RY P O L I CY TO C H E C K I N F L AT I O N , I M F T E L L S C B N is one of the most stable for this year. For 2023, it is same at 3.2 per cent and three per cent in 2024. So, this is an economy with very high inflation as well and this is why we have a forecast of about 20 per cent inflation for 2023. “And one of our main recommendations is to tighten monetary policy to ensure that this inflation comes down towards the more target levels.” Inflation in Nigeria has remained stubbornly high in the past few years. In response, the CBN has been gradually increasing its benchmark interest rate, the Monetary Policy Rate (MPR), since last year. Specifically, it has increased interest rate six times. It was raised to 13 per cent in May last year, 14 per cent in July; further increased to 15 per cent and 16.5 per cent between September and December 2022; 16.5 per cent in December 2022; 17.5 per cent in January 2023; and 18 per cent in March. Speaking on the projection for Africa’s economy during the media briefing, Chief Economist and Director Research Department, IMF, Pierre-Olivier Gourinchas, noted that inflation for the region was still high, even as he forecasted

and uploading of scanned copies of polling unit election results to the IReV portal. While submitting that the presidential election was devoid of any form of manipulation or favouritism on its part, INEC averred that it had no electronic collation system. The commission stated, "Collation of election results both under the Electoral Act and the 1st Respondent’s Regulations was meant to be manual. Further, the 1st Respondent states that the 2nd Respondent was rightly returned as winner having scored the highest number of the lawful votes cast at the election, which results were collated manually in the presence of party agents, including the petitioners. "The 1st Respondent states that

a gradual decline for the region. Gourinchas noted that the economy was being affected by external factors and the region was slated to have a slow growth in 2023. The IMF official added, “This region is suffering from a strong funding squeeze. We already discussed that some of the countries that are facing very innovative spreads and a lot of them are already in the region. “A lot of the challenges come from external factors that vary from the surge in energy prices and food prices as a consequence of the Russian invasion of Ukraine and the tension in energy markets is affecting the region. “So we have a slow in growth for the region overall to about 3.6 per cent in 2023 from 3.9 per cent last year. “We also have a situation where inflation is elevated, it’s double-digit inflation and is expected to come down from 16 per cent, to about 12.3 per cent, but still double-digit inflation. And, of course, the very important challenge for the region is as a result of these elevated food prices, we have a large number of people who are in situations of food insecurity and we estimate about

something like 430 million people in a situation with food insecurity.” Meanwhile, in a separate briefing to launch Global Financial Stability Report, Director, Monetary and Capital Markets Department, IMF, Tobias Adrian, alluded to the importance in tackling inflation. Adrian said, “Fighting inflation is the very first order, but you do have to make sure that you know, the most vulnerable population is also taken care of. So, you may have to tighten fiscal policy as well but also provide support, to make sure that everybody can afford nutrition and at a shelter.” Speaking on the banking crisis that led to the collapse of Silicon Valley Bank (SVB) and Signature Bank in the United States, Adrian said, “When the SVB turmoil hit, there was a sell-off of bank shares in the US in the euro area, but much less in emerging markets. And while there's certainly a broad heterogeneity, in terms of the banking systems in emerging markets, in general, there's a somewhat smaller share of ratio to securities portfolios that are losing value when interest rates are being raised and there's a larger share of retail, so stickier deposits are relative to the kind of wholesale

deposits that we have seen in SVB.” Relatedly, IMF, in its WEO, retained Nigeria’s GDP growth projection for 2023 at 3.2 per cent. It however raised the country’s next year growth projection to three per cent, from the 2.9 per cent it forecast in January. Global growth was, however, expected to decline from 3.4 per cent in 2022 to 2.8 per cent this year and expand to three per cent in 2024. In January, IMF projected global growth at 2.9 per cent and 3.1 per cent in 2023 and 2024, respectively. IMF stated, “For advanced economies, growth is projected to decline by half in 2023 to 1.3 per cent, before rising to 1.4 per cent in 2024. "Although the forecast for 2023 is modestly higher (by 0.1 percentage point) than in the January 2023 WEO Update, it is well below the 2.6 per cent forecast of January 2022. “About 90 per cent of advanced economies are projected to see a decline in growth in 2023. With the sharp slowdown, advanced economies are expected to see higher unemployment: a rise of 0.5 percentage point on average from 2022 to 2024.”

having not uploaded the results immediately, INEC totally lost credibility in the eyes of Nigerians. “We can't see them in real time. We cannot see them as Prof. Yakubu Mahmood said. He said I'm going to put it there... I read several times that the public will be able to view that polling unit results as soon as elections are finalised on election day. “The Electoral Act says that INEC was given the legal backing to have electronic transmission of results and did say in a format that INEC decides. We know that format, because the chair of INEC told us what the format would be when he said that the results will be uploaded at the end of voting from the polling units. And that was not done,” she argued. Adichie urged her detractors to point out what was untrue in the letter she wrote, explaining that since a vacuum had been left by the authorities, people will try to fill that gap, stressing that she wasn’t apprehensive about any lawsuits against her. On the allegation that she was supporting Obi because of his Igbo origin, she said: “tribesman is such an outdated and strange expression, which I think also says something about whoever is using it. I think that that kind of accusation is a practice of what psychologists call projecting. So you're doing something but then you accuse someone else of doing it, even though they're not,” she added. “So this idea of sort of ethnicity is just really again, I think it's a way of deflecting, let's focus on what really matters,” she said. Adichie also attempted to address Soyinka’s characterisation of comments by the running mate to Obi, Datti Baba-Ahmed as fascistic, declaring that if anything, it is INEC that has a fascistic outlook. “I have a lot of love for Prof. Soyinka. I admire him. I respect him as a thinker, as a writer. I think everyone should read The Man Died . And actually, Ake, his memoir is beautiful. But at the same time, I disagree very strongly with him about this particular issue. And actually, because I respect Prof Soyinka so much, I went back and watched the interview. “I had watched it when it aired initially but I went back and watched it because I thought I was missing something. And I think fascist is a really strong word... And

I did not see any reason that Mr Datti Baba-Ahmed in that interview would have been termed fascist. “You know, I think he (Baba-Ahmed) was making a very strongly-felt point about the elections. What he was saying, which again, I thought seemed fairly reasonable is that if our democracy is rooted in our constitution and you then swear in a person who's been elected unconstitutionally, then you're in fact, ending democracy. “...And so I just didn't quite see why it would be termed fascism. I think it's fair to say that he, Prof Soyinka himself is not given to restraint in language in general, and so maybe that's where that word fascist came from. “However, I have suggestions for what we could use fascist for, we could use fascist for INEC, because as it is right now, many Nigerians feel deeply cheated by INEC, deeply disenfranchised by INEC, and that is authoritarianism which obviously is the basis of fascism at the centre of manipulating an election because what you're doing is that you're gagging people, you're forcibly taking away their voice, that is fascist,” she posited. She added: I think that Prof Yakubu had an opportunity for heroism. I think he wasted it spectacularly. Because he could very easily have become the hero of not just Nigerians but Africa because so many Africans were watching and they were so inspired by what happened before this election and by the ‘obidient’ movement. “I also think that the President Buhari missed an opportunity for heroism, maybe his last chance at heroism, because Nigerians felt before the elections that he meant well and meant to support credible elections. I don't think many Nigerians think that now,” she noted. While hoping that parties in court will get justice, Adichie however said that there were reasons to doubt it especially given the kind of judgements that have come out of the court in recent times. “ I hope they will. I think there's reason to doubt that because the Supreme Court has had rulings that just did not make a lot of sense to most people. And so there's reason to worry, but I'm hopeful. I'm generally hopeful. I'm optimistic that they will do the right thing and that people will get justice,” she said.

WEDNESDAY APRIL 12, 2023 • T H I S D AY

T H I S D AY ˾ WEDNESDAY APRIL 12, 2023

MIDWEEKPOLITICS

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

08033025611 SMS ONLY

Interim Nation Government: The House of Delusion The clamour for a stop-gap administration in Nigeria is illusory, writes Segun James.

urprisingly, the most intense sporting event in Nigeria today has nothing to do with sport. It is the competition for the control of the political soul of the nation. And the competition is between a seasoned well horned sporting champion and a political wildcat. Few political dramas boast a plot as far-fetched as the one that has unfolded on the Nigerian political turf over the past few weeks. A situation where embittered politicians are openly calling for a coup against the constitution of the country! Days after the announcement of the outcome of the presidential election, people operating over social media have been alleging fraud and calling for an end to the nation’s democracy. The callers claimed that the election was fraught with irregularities and rigged in favour of the eventual winner, Asiwaju Bola Ahmed Tinubu. When he won, they cry fraud, but when he lost, it was fair. Although such calls are not new or unusual in the country, it is the treasonable demand for an Interim National Government that is the problem. Ridiculous as it may sound, the call has been confirmed by the nation’s secret service as true. Yet, the proponents of this delusional idea are hell-bent on it. They don’t care about the implication to the political well-being of the nation. Their mission: Anybody for President as long as it is not Tinubu. In Nigeria today, on the political turf, it has been like a war going on with nothing else on the news. The economy has been pushed to the backbench and President Muhammadu Buhari’s management of it is no longer an issue. For the President, this is the best time since he came to governance in 2015. The perennial and armchair critics are no longer interested in him and how he handles governance. The heat has shifted to President-elect, Bola Ahmed Tinubu. As chaotic, fractious and bafflingly inconsistent as the Buhari administra-

Obi

Baba-Hamed

tion may be, on one issue the nation has remained united – his aloofness to political pressure, no matter how ridiculous. That is why his refusal to comment on the treasonous issue of the Interim National Government (ING) and the call for a coup against his government by supporters of a third-placed candidate shows the democrat and the nationalist in him. Security threats the world over are no longer about territorial disputes and military confrontations; they are fast including nontraditional threats like seeming anger arising from political and social issues. This alarming trend may be responsible for the underdevelopment of the country. As more countries the world over have made the transition into nations, Nigeria is still struggling 63 years after independence because of such calls as this. Nigeria is teetering on the edge of another political cri-

sis, if what is going on in the polity is anything to go by and the implication forbodes anarchy. National conversations on politics these days are currently dominated by threats. As long as there are ignorance and poverty in the nation, there will also be persons who would be treated as expendables. That is a lot of those that went to the military to demand a takeover of government. As one philosopher once pointed out, it can be a source of comfort to remember that, no matter what else is happening, the world still turns. Surely the world would move on with or without a country called Nigeria. The past few weeks have brought a steady infusion of grim news about the polity. Much of it is caused by actions and utterances by those who profess to be political leaders. One such person is the vice-presidential candidate of the Labour Party (LP), Mr. Datti BabaAhmed, who has been drumming for war because his party lost a well-fought battle. Due to his unguarded statement, the Nigeria Broadcasting Commission (NBC) slammed a N5 million fine on the Channels Television station following an interview granted by Datti.

During the interview, Datti expressed statements capable of setting the nation on fire as he had urged President Muhammadu Buhari not to swear in Tinubu as the winner of the February 25th presidential election. A call which is treasonable as it would mean that either Buhari unconstitutionally extend his own tenure in office or a veiled call for an interim government. Today provides a welcome opportunity to take stock of where we stand as a nation in meeting the challenges facing the country and there can be no question that the foremost challenge is politics. Over the last few weeks, the nation faces two challenges in relation to each other – ethnicity and religion. Well, the answer to these challenges is the need to see beyond one’s ethnic or tribal nationality and secondly, one must see beyond religion. These two have been the bane of Nigeria’s political problems. The controversies that beset Nigeria’s politics today extend beyond the most basic activities such as party programmes, speeches and condemnation of people on the opposite sides of the political divide, it is now ethnic and religious, a situation which is giving in to calls for insurgencies. In politics as in football, timing counts. It makes the difference between a brilliant tackle and a red card or a smartly taken goal and a raised offside card. That’s what Peter Obi failed to realise when he accused the Independent National Electoral Commission (INEC) after the election results have been announced. People love to tell tales. Indeed, even when someone’s memory is patchy, he will still do his best to spin the information he has into a credible yarn. This is not a matter of decency, rather, it is an established psychological phenomenon in which they try to make sense of fragmentary information. So it is with Obi, and so it is with Datti. Although such behaviour is natural and normal, it is nuisance for the forces of law and order.

Buhari’s Parting Gift to the Yewas Olubunmi Omoogun writes about the constitution amendment bill recently signed into law by President Muhammadu Buhari which changed the name of the area known as Egbado to Yewa in Ogun State.

n the next eight weeks or thereabout, President Muhammadu Buhari, will conclude his term in office. Precisely by May 29, 2023, President Buhari would have completed his eight years as the Commander-In-Chief of the Nigerian armed forces. To many, President Buhari, nicknamed as Mai Gaskiya (honest man), may go down in history as the President that allowed the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele to inflict pains and untold hardship on Nigerians, particularly the most vulnerable people, as a result of the poorly executed CBN Naira reprint policy. After spending less than two years as Military Head of State in the early 80s and coming back in 2015 as the Civilian President of the country, it is difficult to fathom what else he may want to achieve being leader of the most populous country in black race. But like him or loathe him, the former Army General from Katsina State who cannot wait to move back to his Daura country home, in the last couple of days, took everybody by surprise as he signed into law some iconic legislative Bills. Part of the Bills was the Bill sponsored by the Senator representing Ogun West Senatorial District, Tolu Odebiyi. The Bill titled ‘An Act To Alter The

Buhari

Odebiyi

Constitution Of the Federal Republic of Nigeria, 1999, CAP C23 Laws Of The Federation of Nigeria 2004 To Make Provision for Change Of Name Of The Area Referred To As ‘Egbado’ In Ogun State To ‘Yewa’ As Contained In Part 1 Sec 3(1) Of The Constitution Of The Federal Republic Of Nigeria 1999 (As Amended). In 2020, Senator Odebiyi, in fulfilment of the request by the

community, royal fathers, youths and political leaders, came up with the Bill to change the name ‘Egbado’ to Yewa on the floor of the Senate. He lobbied his colleagues until the Bill became an Act of Parliament due to the presidential assent on Friday, 17th March, 2023. 93 Senators out of the 95 Senators present in the Red Chamber on Tuesday, March 1st, 2022 voted in favour of the important Bill sponsored by Senator Odebiyi. Because of the consistent push by

Senator Odebiyi to get the Bill passed, the Senate realised how crucial the Bill rooted in historical traditions and which the ‘Egbado’ people of Ogun West Senatorial District have demanded to be addressed as Yewa was. The Senator who is excited that the consistent yearnings of youths, political and religious leaders to have the name ‘Egbado’ changed to Yewa has yielded positive results during his time as the Senator representing the good people of Ogun West Senatorial District of Ogun State. Senator Odebiyi who has been working for the people and has made a big impact noted that the signing of the Bill remained an uncommon legacy for which the indigenous people of Yewa will remain grateful for a long time. While extolling President Buhari, the Senator who was sufficiently motivated by the desire of his people, also noted the collective efforts of leaders of thought, traditional leaders and everyone from Ogun West Senatorial District who sought for the true historical identity of the people of Yewa to be reflected in the Nigerian Constitution. This is no doubt an enduring legacy and a pleasant parting gift from the Mai Gaskiya. -Omoogun writes from Abuja.

T H I S D AY ˾ WEDNESDAY APRIL 12, 2023

POLITICS

New Senators and Politics of the 10th N’Assembly With the curtains drawn on the National Assembly election held across the nation on February 25, 2023, Deji Elumoye writes about some of the 73 new Senators-elect that are projected to shape the politics and policy of the 10th Senate.

Oshiomhole

Kingibe

t the last count, the Independent National Electoral Commission (INEC) has presented 102 senators-elect with their certificates of return. They are the winners of the senatorial elections held alongside the presidential poll on February 25, 2023. The election into the remaining seven seats are expected to be completed during the re-run poll holding in the outstanding senatorial districtsbon April 15, 2023. Of the number, a record 73 are new members of the Senate, a development that has placed the new Senators at a good numerical advantage over the old timers. According to INEC, seven of the 18 political parties in the country have at least a member in the Senate, a development many say would offer robust legislation in the 10th National Assembly. The parties include the All Progressives Congress (APC), the Peoples Democratic Party (PDP), the All Progressives Grand Alliance (APGA), Social Democratic Party (SDP), Labour Party (LP), New Nigeria Peoples Party (NNPP) and the Young People Party (YPP). However, away from the representation of

Mustapha

Daniel

numerous parties, there are some new faces who will be part of the 10th Senate and they include former Governors, ex-political appointees and prominent politicians. It will not be out of place to take a quick look at six of the new members of the Red Chamber, their journey to the Senate and what they have to offer the Assembly and the nation as a whole.

by supporters of the LP Presidential candidate, Peter Obi. With the victory, Kingibe becomes the second female to be part of the 10th Senate. It is expected that the Senator-elect will champion the causes of women and sponsor bills that will promote women’s participation in politics. She has also promised to give the indigenous people of the Federal Capital Territory (FCT) an adequate representation in the red chamber.

Also, as a former party executive, he is expected to contribute to fostering unity among lawmakers from the APC wing. However, on his legislative agenda, Oshiomhole has promised to work with other colleagues to help Nigerians get value for money. “I will be part of the senate that legislates for the good people of our country, not for the powerful, by making sure that what we do in appropriation will be such that Nigerians get value for money,” he said.

Ireti Kingibe The emergence of Ireti Kingibe as the Senator-elect for the Federal Capital Territory (FCT) dazed political observers. She contested under the Labour Party to clinch the seat. Kingibe, a civil engineer, ventured into politics in the 1990s, starting with her appointment as Adviser to the National Chairman of the defunct Social Democratic Party (SDP). Many have linked Kingibe’s victory to the influence of the ‘Obidient’ wave, a political tsunami led

Adams Oshiomhole A former Governor of Edo state and immediate past substantive National Chairman of the All Progressives Congress (APC), Adams Oshiomhole, will be representing Edo North Senatorial District in the 10th Senate. Surprisingly, Oshiomhole defeated the incumbent Senator Francis Alimekhena of the Peoples Democratic Party (PDP), to win the election. Oshiomhole, being a former textile union activist, and former President of the Nigeria Labour Congress (NLC), is expected to help sponsor bills that will better the lives of Nigerian workers.

Gbenga Daniel Former Ogun state Governor, Otunba Gbenga Daniel, has resurfaced in the political space as a lawmaker over a decade after he left office. Daniel governed the state for two consecutive terms between 2003 and 2011. At a time many had thought the former Governor had retired from active politics, he contested the senatorial election to represent the people of Ogun East and won. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Mutual Suspicion Between Governors and their Deputies Fidelis David writes that office of the deputy governor is the second most important office after that of the governor at the state level in Nigeria but the phenomenon of mutual suspicion between such elected political offices holder since the commencement of the Fourth Republic in 1999 has become an issue of concern.

any of the 36 states across Nigeria have had the history of threats and outright impeachment of deputy governors, due to the rivalry with their principals. For instance, Ondo, Kogi, Abia, Adamawa, Bayelsa, Ebonyi, Edo, Plateau, Akwa Ibom, Bauchi, Taraba, Oyo, Osun, Enugu, Imo, Lagos, Kano, among others, had their fair share of the trend. In each of those cases, the deputy governors ended up being impeached or resigning. Overtime, relationship between governors and their deputies has always been synonymous to that of cat and rat because the role of the deputy has not been clearly defined. For instance, Section 193 (1) of the 1999 Constitution, as amended, states that: “The Governor of a State may, in his discretion, assign to the Deputy Governor or any Commissioner of the Government of the State responsibility for any business of the Government of that State, including the administration of any department of Government”. Also, Section 191 (1) also states that: “The Deputy Governor of a State shall hold the office of Governor of the State if the office of Governor becomes vacant by reason of death, resignation, impeachment, permanent incapacity or removal of the governor from office for any other reason in accordance with Section 188 or 189 of this constitution.” In interpretation, the role of a deputy governor is therefore dependent on the pleasure of the governor, except in the circumstances listed in Section 191 (1). Meanwhile, some governors see it as an opportunity to show who is in charge. Very

with the governor, the late Adekunle Ajasin who already had in his camp some members of the state House of Assembly. By the time the crisis between Ajasin and Omoboriowo boiled over, Ondo state was up in flames and for about four weeks, the state didn’t know peace. Political experts assert that, a deputy governor is like an appendage to the governor in Nigeria as the deputy is at the mercy of his governor to be politically relevant and effective. Others say, it takes a governor with a heart of benevolence to use his discretion to delegate a few functions to his deputy, even though the constitution provides that. Akeredolu

Aiyedatiwa

few governors assign their deputies supervisory roles over certain government ministries and agencies. We have had many cases where state governors travel out of the country for months without handing-over to their deputies, to the detriment of the state as a whole. In some states, we observed that the governors limit their deputies only to participating in the state executive council meeting and attending public functions which the governor is unable to attend. Don’t forgot that the frosty relationship between Governor Seyi Makinde of Oyo State and the immediate past Deputy Governor, Rauf Olaniyan, lasted for over two years before his impeachment by

the state House of Assembly after the recommendation of the panel set up to investigate the allegations levelled against him. Interestingly, many deputy governors have been blamed for causing their problems. Let’s take the case of Adekunle Ajasin and Akinwole Michael Omoboriowo in Ondo State in 1983. Omoboriowo was elected deputy governor on the Unity Party of Nigeria (UPN) platform, running with Michael Adekunle Ajasin, who became governor. Omoboriowo claimed that he should have been UPN candidate for governor, since he had won more votes that Ajasin in the primaries, but that the UPN leaders had rigged the results. During his period as deputy governor, he fell out with Ajasin, who refused to swear him into power as acting governor when Ajasin was away from the state. Omoboriowo was no longer in good terms

Akeredolu, Aiyedatiwa: A different ball game In Ondo State, suffice to say that the case of such misunderstanding and rivalry has not been observed between the state Governor, Mr Oluwarotimi Akeredolu (SAN) and his Deputy, Lucky Aiyedatiwa, as the governor at different times, allowed Aiyedatiwa to perform the functions of the office of the Governor. For instance, last Monday, the governor proceeded on a 15-working day vacation as first instalment of his 2023 annual leave. In a statement issued in Akure by the governor’s Chief Press Secretary, Richard Olatunde and transmitted to the State House of Assembly and addressed to the Speaker, Hon Bamidele Oleyelogun, Governor Akeredolu said the leave was to commence from Monday, 3rd to Tuesday, 25th April, 2023, both days inclusive. He explained that while he is away on vacation, the Deputy Governor, Lucky Aiyedatiwa, will perform the functions of the office of the Governor in acting capacity.

T H I S D AY ˾ ͯͰ˜ ͰͮͰͱ

FEATURES

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

Ondo Community Ravaged by Leadership Crisis Amidst Sea Incursion Fidelis David writes that there seems to be no end in sight to the eight-year-old leadership crisis rocking Aiyetoro Community, a costal community in Ilaje Local Government Area of Ondo State and the sea incursion which has claimed more than three-kilometre landscape of the community and rendered many homeless

Pictorial display of Aiyetoro Community submerged by ocean surge

he famous African proverb, "when elephants fight, the grass gets trampled", meaning that the weak gets hurt in conflicts between the powerful or when two leaders fight, it's the followers that experience the fallout, can best describe the series of crises confronting residents of the riverine Aiyetoro Community. While the eight-year- old leadership dispute has led to the destruction of 84 houses and several other properties worth millions of Naira, sea incursion on the other hand, has become a constant occurrence, destroying buildings and property worth millions of Naira and renderings many of them homeless. It is pertinent to state that Ilaje Local Government as a whole remains the only oil-producing community in Ondo State which contributes about 60,000 per barrel of crude oil per day to the country’s oil production and accounts for 13 per cent oil derivation fund accruing to the state. Aside its oil wealth, Ilaje Local Government is famous for having the longest coastline in Nigeria estimated at 75km, bitumen, glass sand and quartz. Meanwhile, the current crisis was birthed over the sharing of N150m paid to the community by Mobil Oil Unlimited Company as compensation for an oil spill that occurred in 1998. Addressing journalists in Akure the state capital under the auspices of Ogeloyinbo- -incouncil of Aiyetoro and the Board of Trustees of the Holy Apostles Church, the leaders, lamented that the destruction still persists. Speaking on behalf of the community, the Asiwaju of Aiyetoro, Gani Ojagbohunmi, said while several persons have fled the community for fear of being attacked, while some warring youths have also asked some of the community leaders involved in sharing of the money to vacate the community. Ojagbohunmi, who was a former Clerk of the House of Representatives was flanked by the chairman Board of Trustee, Rev JI Ajijo, Secretary of the BOT, Folajimi lretolu, Baba Ijo of the community, Bishop E Eretan and the Basorun of Aiyetoro, Tola Alabere. He said the crises in the community erupted after the recognition of Oba Ajijo as the leader of the community and the sack of Oluwanbe Ojagbohunmi by the court.

According to him, the current crisis started on March 4, when a group of violent supporters of Oluwanbe Ojagbohunmi again swooped on the Palace of Ogeloyinbo of Aiyetoro with all manner of dangerous weapons and allegedly threatened to kill and kidnap the Oba. According to him, Oluwanbe, created a parallel leadership structure in the community to cause chaos and violent despite a peaceful settlement initiated by the state government. He said: " In the aftermath of the public violence, the gangsters destroyed two houses built very close to the palace. The houses belong to (1) Mr. Tokunbo Olaseile and (2) Most Rev. AP. Jesseri Iwasanm Ajijo. Although the persons have reported the cruel acts of destruction to the D.P.O, Igbokoda, the D.P.O had expressed his helplessness in effecting arrest of the suspects because of the riverine terrain of the community. The Okitipupa Area Commander; the Chairman, Ilaje Local Government and the O. C 19 Battalion, Army Barracks, Okitipupa were subsequently alerted on the above and they all visited and confirmed the aforesaid criminal activities on 05/03/2023. "The passionate pleas of the aforesaid government and security officers to Mr. Oluwanbe Ojagbohunmi and his gangsters fell on deaf ears. As soon as the officers left around 7.00p.m on 05/03/2023, the gangsters again swooped on the Ogeloyinbo’s palace and started to

destroy the Palace building with an attempt to kidnap the Oba from the palace. It took the subsequent effort from Naval Officers from a neighbouring Community to rescue the Oba from the palace and took him out of the community for safety. "The destruction of the Oba’s Palace, looting of its properties and threats to lives and properties and other criminal activities being perpetrated by Mr. Oluwanbe Ojagbohunmi and his gangsters have now continued unabated and there is no end at sight. "So far, the Ogeloyinbo of Aiyetoro Community (Oba Ajijo) has lost properties worth over Five Hundred Million Naira to the above criminal activities. It is rather unfortunate that no security whatsoever has been provided in Aiyetoro Community despite the assurance by some senior government officials and the police that security personnel would be immediately deployed to the Community to prevent further damages to properties and threat to lives". According to him, Oluwambe and his supporters are currently using alleged false narrative that the financial compensation N69 million paid to the community recently by Mobil Oil Unlimited Company for the oil spillage that affected the community as excuse or justification for the on-going violence. He noted that over 240 victims of the spillage have received compensations, stressing that the N69m ( first tranche) compensation was an out of court arrangement by the community lawyers who had removed his 23 percent legal charge from the N90 million paid by the oil company. He noted that as soon as the money was paid into the community account, the Oba set up a small committee of the leadership to

While the eight-year- old leadership dispute has led to the destruction of 84 houses and several other properties worth millions of Naira, sea incursion on the other hand, has become a constant occurrence, destroying buildings and property worth millions of Naira and renderings many of them homeless

oversee the distribution of the compensation to the people and groups that are entitled in line with the previously agreed arrangement and formula. “We have records of people in is dissident group who already collected their entitlements. It is pertinent to note that the allegation of wrong doing concerning the compensation money is nothing new. "The matter was earlier reported to the Ondo State Command, Akure. After some investigations, the police Command expressed satisfaction that the leadership of the community properly handled the administration of the compensation. ”Therefore, we cannot see any justification for the resort to violence, threat to life and destruction of valuable properties of the leader of the community and other indigenes of community. We thank the Ondo State government for promptly setting up a reconciliation committee on the crisis in our community", he stressed. While clarifying that disbursement of the compensation were done through banks and well documented, he alleged that Oluwanmbe, in a bid to struggle with the community leadership on the issue of legitimacy , instructed some people not to collect their entitlements but majority of the people entitled to the money in his group ignored his directive and went ahead to collect their money. "In light of the above, we hereby call for urgent mobilisation of Mobile Police Force and other security agents to Aiyetoro Community to maintain law and order, commencement of thorough investigation of the above stated criminal activities of Mr. Oluwanbe Ojagbohunmi and his gangsters, with a view to make them face the wrath of a due process of law; urgent provision of security personnel to guard the palace of the Ogeloyinbo of Aiyetoro; and establishment and fully equipped Police Station and Naval Base in Aiyetoro Community". Be as it may, the expectations of residents of Aiyetoro community include a total end to the leadership crisis in the community and reclamation of the land by building of embarkment, because the town had been shrunk by sea water incursion and more than three-kilometre landscape of the town has been lost to the sea incursion.

WEDNESDAY APRIL 12, 2023 • T H I S D AY

24 T H I S D AY WEDNESDAY APRIL 12, 2023 TR

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& RE A S O

Wednesday April 12, 2023 Vol 27. No 10226

opinion@thisdaylive.com

www.thisdaylive.com

RACE FOR THE SENATE PRESIDENCY Osita Izunaso has what it takes to excel as a Senate President, argues CYPRIAN OBI MGBECHETA

See page 25

NIGERIA’S PAST SHOULDN’T BE TODAY’S BURDEN

FREDRICK NWABUFO canvasses the need to move beyond our past

See page 25 EDITORIAL

THE CHALLENGE OF DEFORESTATION

Macky Sall, like many irresponsible leaders, is on the verge of altering his country’s constitution for a third term, writes CHIDI ANSELM ODINKALU

THE RETURN OF THE INTERMINABLE PRESIDENT IN AFRICA Macky Sall, Senegal’s president since the beginning of April 2012, has had somewhat of a charmed life. Born in December 1961, he has lived at the cutting edge of his country’s political leadership for over a quarter of a century as city mayor, cabinet minister, prime minister, president of the National Assembly, and president. Over this period, he has been a leader in the opposition Democratic Party of Senegal (PDS), protégé and later opponent to President Abdoulaye Wade, and since 2008, founder of a party political start-up, Alliance for the Republic (APR). To become president in 2012, he defeated the incumbent, Abdoulaye Wade, precluding him from re-election to what would have been a third term. Now approaching the sun-set of his second term, which will end in 2024, Macky Sall wants to up-end his country’s constitution and do that for which he excoriated and ultimately defeated his predecessor and mentor – run for a third term. After months of ill-concealed GLWKHULQJ KH KDV DOO EXW FRQÀUPHG KLV LQWHQWLRQ to run for what would be a constitutionally prohibited third term in a recent interview with French Magazine, L’Express. Article 27 of Senegal’s 2016 Constitution could not be clearer: it prescribes the duration RI D SUHVLGHQWLDO WHUP DV ÀYH \HDUV DQG DGGV that “[n]o one may exercise more than two consecutive mandates.” If Macky were to ÀQDJOH D WLOW DW WKH SUHVLGHQF\ IRU D WKLUG WLPH he would be in breach of this provision. For the moment, it seems, his plan is more than merely to run again. To make that happen, he seems intent on dictating whom he will run against too. His strongest opponent is Mayor of Ziguinchor and founder of the “Yewwi askan wi” (Free the People) coalition, Ousmane Sonko, whom Macky has systematically sought to tarnish and exclude from the contest with a succession of desperately specious criminal charges, so he can designate a hapless paper-weight as his opponent. Macky Sall is the latest of Africa’s president in search of an interminable presidency. If he succeeds, he will be at least the 15th African president to do so in eight years since 2015. It was not supposed to be this way. Independence in many African countries arrived as somewhat of an anti-climax. In its wake, constitutional instability established itself as the preferred means of succession to power. In the 50 years from the beginning of 1955 to the end of 2004, West Africa alone reported 169 “military interventions of some type”, both successful and unsuccessful. From 1952 to 1998, the continent recorded 85 successful coups. The cost to the continent was incalculable. Ironically, Macky Sall’s Senegal was one of the few countries on the continent that has so far not reported any. The mutual assurance of non-interference on the back of which this toxic trend was HVWDEOLVKHG EHJDQ WR VXͿHU UH H[DPLQDWLRQ following the onset of the wars in Liberia and Sierra Leone in 1989. In 1990, Nigeria led

the launch of a regional peace-enforcement intervention in Liberia which altered the way in which the continent responded to internal instability. The following year, African leaders in Kampala, Uganda, diagnosed the interminable presidency as central to the FRQWLQHQW·V FRQÁLFW DQG LQVWDELOLW\ SDWKRORJLHV and agreed that “[t]here should be periodic renewal of the mandate of political leaders. At the same time, the tenure of elected leaders in various branches of government should be constitutionally limited to a given number of years.” In the four years that followed 37 African countries altered their constitutions, with 37 of them introducing presidential term limits. At the continental level, regional institutions, including the Economic Community of African States (ECOWAS), and the Organisation of African Unity, (OAU), which became the African Union in 2000, began to evolve rules for oversight over elections and constitutional instability. What emerged by the turn of the millennium was a continental package deal, by which the leaders of the continent agreed three things. First, access to political power would be based on political legitimacy conferred through credible elections, supervised by regional institutions. Second, to guarantee political competition, presidential term limits will be limited. Third, in return for respect for these two stipulations, the continent outlawed unconstitutional changes in government or coups. By 2014, the continent went further to make the unconstitutional change in government an international crime in Africa. Those involved in it will become liable to be tried before the African Court of Justice and Human and Peoples’ Rights. This was far reaching. ,Q HͿHFW WKH SURKLELWLRQ DJDLQVW unconstitutional changes of government in Africa was part of an implicit bargain to install guardrails against abuse of presidential incumbency on the understanding that those who seek power had to undertake to abide by some determinate rules for access thereto. These rules were meant to ensure that they

will not seek to convert incumbency into interminable rulership. But, far from eventuating, what has happened nearly across the continent is that incumbents and their parties, aided by the willing complicity or abdication of regional institutions, have retrenched the norms on term limits and credible elections, while simultaneously entrenching the prohibition against unconstitutional changes in government into a rule for interminable presidency. In response, coups are making a return to the continent on an “epidemic” level. Take Guinea for instance. The country had never had a peaceful transition of power in over half a century of independence before 2010, when it installed Alpha Condé as its elected president. Under the Constitution, he was allowed two WHUPV RI ÀYH \HDUV HDFK ZKLFK ZHUH WR ODSVH LQ 2020. But, rather than quit power as stipulated, President Condé, who was born in 1938, chose at 82 to organize a rigged referendum to amend the constitution, enabling him to rule until he was at least 94 years old. To ensure this, President Condé deployed the military, killing many protesters against the referendum. Seven months later, amidst even more violent protests and more killings, Condé got himself proclaimed winner in elections for his interminable presidency boycotted by the opposition. Neither ECOWAS nor the African Union remembered that there were continental norms against interminable presidency and rigged ballots. In September 2021, the military overthrew President Condé, whereupon ECOWAS and the African Union quickly rediscovered their voices. As President Condé was busy securing his interminable presidency in Guinea, the ruling party in Mali organized elections under cover of COVID-19, at the end of which they used the judiciary to steal seats won by the opposition. What followed was a mass uprising which ultimately led the military to sack an unpopular ruling party and take over power. Once again, the AU and ECOWAS, complicity in the preceding manipulation and fabrications, suddenly perked up. By the turn of the millennium, military rule in Africa had rightly passed its sell-by date. Yet since 2002, the African Union has recorded and acted against 14 successful coups, most of them the result of presidential abuse of power or against the designs of an interminable presidency. Africa, the continent with the youngest demographic in the world now has the distinction of having the four longest serving elective presidencies in the world. In Gabon and Togo, the Bongo and Eyadema dynasties have been in power for 55 years each. Equatorial Guinea’s Teodoro Obiang approaches his 44th year as president, while Cameroon’s Paul Biya has clocked over 40. A lawyer and a teacher, Odinkalu can be reached at chidi.odinkalu@tufts.edu

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WEDNESDAY APRIL 12, 2023

FREDRICK NWABUFO canvasses the need to move beyond our past

Osita Izunaso has what it takes to excel as a Senate President, argues CYPRIAN OBI MGBECHETA

RACE FOR THE SENATE PRESIDENCY Nigeria is a unique country. So many things account for its uniqueness among other countries in Africa. It has diverse people, languages and faiths. What stands Nigeria out is the ability of its diverse people to resolve some complex political problems using negotiation and dialogue. That is why Nigeria has continued to play WKH %LJ %URWKHU UROH LQ UHVROYLQJ FRQÁLFWV in Africa. Apart from the unfortunate 30 months Nigerian Civil War that shook its foundation, Nigerians have since then

used non-violence means to resolve their problems. The bottom line is that we have used agreed zoning or power sharing IRUPXOD WR VKDUH SROLWLFDO R΀FHV LQ VXFK D ZD\ WKDW LW UHÁHFWV WKH IHGHUDO FKDUDFWHU principle as enshrined in the 1999 Nigerian Constitution (as amended). Following the outcome of the 2023 Presidential and National Assembly elections, it is expected that while some people are celebrating, some others will be complaining. It is the nature of politics and elections in the country. These tendencies have always manifested at almost every election cycle. But our ability to manage them has strengthened our union. Since the return of democracy in 1999, the zoning of key SROLWLFDO R΀FHV DPRQJVW WKH VL[ JHRSROLWLFDO zones has gone a long way to stabilize the polity and ensured sustainable peace and harmonious coexistence. In 1999, there was a gentlemen agreement within the polity to zone the presidency to the South, especially the South-West region, to assuage the illfeelings emanating from the annulled June 12, 1993 election believed to have been won E\ WKHLU NLQVPDQ &KLHI 0.2 $ELROD $W the end of the political horse trading, Chief Olusegun Obasanjo emerged victorious DQG EHFDPH 1LJHULDQ 3UHVLGHQW RQ 0D\ 29, 1999. To pacify the people of the SouthEast region, the position of Senate President was ceded to the zone the eight years of Obasanjo Presidency. The North-West had the Speaker of House of Representatives, the North-East produced the Vice President, while the North-Central had the position of the National Chairman of the then ruling party, the Peoples Democratic Party (PDP). The zoning arrangement has subsisted since then. It has also helped to bring political inclusion and douse tension in the country. The just concluded 2023 elections share so much in common with 1999 scenario. With the ceding of the Nigerian Presidency to the Southern part of the country by the ruling All Progressives Congress (APC), the SouthWest, South-East and the South-South contested for the primary and Bola Ahmed Tinubu won the contest. The South-East argued that since the South-West and the

South-South have occupied the presidential seat, respectively, it was the turn of the SouthEast. Obviously, politics with its complexity could not allow the South-East’s argument WR Á\ KHQFH WKH FHGLQJ DPELJXLW\ WKDW WKH slot was for South and not any particular Southern bloc prevailed and carried the day. This made it possible for a Northern coalition with South-West to produce Senator Bola Ahmed Tinubu as the APC standard bearer and now the Presidentelect. Similar to the 1999 arrangement where Alhaji Atiku Abubakar of North East became the Vice President, this time around, another person from North East, Senator Kashim Shettima emerged as Tinubu’s deputy. The North-West, where the RXWJRLQJ 3UHVLGHQW 0XKDPPDGX %XKDUL hails from, is poised to produce the Speaker of House of Representatives which it has produced several times since the return of our present democratic dispensation. In 1999, the zone produced Ghali Naba, and subsequently produced other House of 5HSUHVHQWDWLYHV 6SHDNHUV OLNH %HOOR 0DVLUD (present Governor of Katsina), Tambuwal (present Governor of Sokoto State). As it stands, the South-East zone is most TXDOLÀHG WR SURGXFH WKH QH[W 3UHVLGHQW RI the Senate. Of all the geopolitical zones in Nigeria, the South-East should be given the position. It is natural that in the spirit of national development, integration, balancing and stability, the next President of Nigeria’s Senate should be ceded to the South-East. The South South and North Central have no basis to agitate for the FRYHWHG R΀FH RI WKH 6HQDWH 3UHVLGHQW $W the moment, someone from North Central is the National Chairman of the APC, the South South has produced good outings as Vice President and President of Nigeria. The position of the President of the Senate should be ceded to the South-East as a way of moving the country forward after Buhari. The clamour for ceding the position of the 6HQDWH 3UHVLGHQW WR 6RXWK (DVW LV MXVWLÀHG 7KH ]RQH KDV HPLQHQWO\ TXDOLÀHG UDQNLQJ senators to lead the Red Chamber and the 10th National Assembly. In the Senate, seniority is highly valued and considered while constituting its leadership, including the headship of strategic committees. Among the ranking senators from the South-East being tipped for the position of the Senate President is Senator Bonaventure Osita Izunaso. He has the unanimous support of senators from his zone and others. He is coming to the post with vast knowledge and experience in the legislature. Senator Izunaso served as the Chief Press Secretary to the former Speaker of House of Representatives, Rt Hon Agunwa Anakwe in 1993 and much later under Senate President Evan Enwerem in 1999. The senior position of Chief Press 6HFUHWDU\ WR WKH WZR 3ULQFLSDO 2΀FHUV RI the lower and upper Legislature preceded Izunaso’s proper Legislative journey in the National Assembly which commenced with his election into the Federal House of Representatives in 2003 and thereafter his election into the Senate between 2007 and 2011. Senator Izunaso is rated very highly and regarded as a consummate and cerebral parliamentarian, known for excellence and productivity. Mgbecheta writes from Lagos

NIGERIA’S PAST SHOULDN’T BE TODAY’S BURDEN The post-election conversations have been a putrid salad of prejudices, recriminations, and elevated provincialism. Our wits, resolve, temperance, capacitance, and stability threshold as a nation are being tested, and they will be tested further in the months and years ahead. Our history is always ready ammunition to be dispatched in any ethnic combat in that ungoverned social media neighbourhood. Contending sides launch missiles from the war rooms with their own ‘’droppings’’ of history. I will not be a soundboard for those tiresome and unyielding conversations here. The duty of the citizen is to be a dispassionate arbiter, divining truth from untruth, and staying irrepressibly on the side of the nation’s interest. I believe instead of these contentions which re-emerge in our public discourse every now and then, we can learn from our past and forge a better country.

We must manage our diversity with ‘’care, mutual respect, understanding, caution and trembling’’. We cannot discount our points of divergence, but we must also recognise that we have solid arcs of convergence. What unites us should be stronger than what divides us. It is unfortunate that to reinforce prejudices, some deploy self-archived ahistorical accounts. Our past as a country should not be a springboard for hate exchanges, but a source of learning to forge a better country. We hold on to “history”, whether manufactured or inverted, to accent our biases. Evolving means we are better than yesterday. No one can hold their own version of history as truth everyone must chow down. There are villains and heroes in every story. It is depressing that our PXFK YDXQWHG SDVW KDV EHFRPH VWXͿ of propaganda passed down from one generation to another. Hate transitioning from one generation to another. We must break this circle of hostility. Really, we cannot make progress as a country if we remain on this treadmill. We must sanitise our conversations, discard epithets, and evolve into a wholesome whole. We must deconstruct revisionist fabrications and pretensions to make good of the future. Knowing that we VWDUWHG RͿ RQ D VKDN\ IRXQGDWLRQ VKRXOG thrust us into consciously working out our destiny. We cannot hold on to an acrimonious past as a precedence for the present and the future. As I said The truth is, history is subjective. Every previously, we take the lessons from the group has their own version of history -- as past and forge a new path. regards their social and political existence in We dissipate so much energy on Nigeria. But we cannot keep recycling the ethnic bouts of supremacy but leave epics of woes that have bogged us down as very little to interrogate fundamental a people. We must move forward and look issues of governance. We must make forward. our existence as a nation about jutting Nigeria’s past is not a very glossy one, issues that govern our lives as citizens – yes. It is replete with tales of pain, sorrow, economy, security, education, and health. and blood – depending on who is telling the In conclusion, it is insalubrious to story. Fatal mistakes were made, but must ascribe the actions of deviants within we keep reliving the errors of our past? Are a certain pool to any group. I have we doomed to remain a rendition of our maintained this position since the wave past? Can we not move forward – beyond of baleful propaganda against the Fulani. our past? I will not deviate from the path of unity Nothing changes because the old ways and peacebuilding no matter how remain the same. We must think a new perilous the road becomes. Nigeria, and a new Nigeria begins with new The invidious and menacing progressive thinking. We cannot take a leap enterprise of Peter Obi’s ‘’Obidients’’ has into a glorious future while we are still stuck driven the dagger deep into the national in the rut of the past. Our past has become umbilicus. Sore points quickened, today’s pain, and tomorrow’s burden. SDVVLRQV LQÁDPHG DQG ERWWOHG XS But does this imply we must abandon our emotions unlatched. history? Absolutely not. We embrace it, but First, we need to address the learn from it as well, and stop repeating the ‘’Obidient’’menace full-frontal, and same mistakes. The current confusion shows we need to strengthen national and we have learnt nothing from our chequered community concord. We need new history. ententes brokered for national cohesion Our past should teach us to be respectful or unity. We need to talk. We need to of one another; it should teach us caution; it KDYH WKRVH GL΀FXOW FRQYHUVDWLRQV LQ should teach us tolerance; it should teach us civilised and decorous fora with a view understanding; it should teach discipline, to healing our nation. We need to talk and it should teach us the very essence of with one another, not at each other. unity. We need new alliances cementing Like Sir Ahmadu Bello, Sardauna of the north with the south, and the east Sokoto, said to Dr Nnamdi Azikiwe: ‘’Let us with the west in holy matrimony. But to XQGHUVWDQG RXU GLͿHUHQFHV , DP D 0XVOLP achieve this, we need to talk. and a Northerner. You are a Christian, an (DVWHUQHU %\ XQGHUVWDQGLQJ RXU GLͿHUHQFHV Nwabufo we can build unity in our country.” is a media executive

26 4

T H I S D AY

WEDNESDAY APRIL 12, 2023

EDITORIAL

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

THE CHALLENGE OF DEFORESTATION The authorities must pay signiﬁcant attention to the environment

recent report by the United Nations that Nigeria has the highest deforestation rate in the world, with an estimated 3.7% of its forest lost every year, should worry all relevant stakeholders. Ordinarily, forests are home to wildlife which perform a broad range of critical environmental and climatic functions including the maintenance of constant supply of water, ensuring clean air and prevention of GHVHUWLÀFDWLRQ VRLO DQG JXOO\ HURVLRQ )RUHVWV KDUERXU species and at the same time have very deep economic, DHVWKHWLF LQGXVWULDO DQG UHOLJLRXV VLJQLÀFDQFH IRU humans. We hope the next administration will take environmental issues more seriously. 2I DOO WKH ÀYH PRVW FULWLFDO IDFWRUV WKDW DͿHFW WKH JOREDO environment, namely, air pollution, overpopulation, deforestation, climate change and global warming, the biggest threat to Nigeria’s environment remains deforestation. This is without losing sight of the waste management FKDOOHQJHV ÁRRGLQJ GHVHUWLÀFDWLRQ JXOO\ VRLO DQG FRDVWDO HURVLRQ WKDW bedevil various parts of the country. Therefore, the need for environmentally and socially equitable approaches to forest management is imperative, especially at a time the nation’s forests are being taken over by bandits and sundry other criminals. Even before the issue of criminal encroachment, many of our forests were threatened by bush burning and illegal logging; a situation made worse by absence of measures aimed at their regeneration. As things stand today, only less than 4% of the country’s untouched forest cover is left. More frightening is the fact that 1.5 million trees are felled everyday owing to illegal logging. About 484 plant species are also threatened with extinction in Nigeria. Nevertheless, Nigeria’s remaining forests harbour DERXW GLͿHUHQW VSHFLHV RI SODQWV LQFOXGLQJ WKRVH WKDW KDYH EHHQ IRXQG WR EH HͿHFWLYH LQ WKH GHYHORSPHQW of alternative medicine. There are also animals, including birds that can only be found in Nigeria and

nowhere else. These include the Ibadan Malimbe, the Anambra Waxbill, the Jos Indigo Bird and the white throated Monkey (Cercopithecus erythrogaster pococki), the Niger Delta Pigmy Hippo and the Niger Delta Red Colobus Monkey. All these important species are threatened by habitat loss apart from other anthropogenic or human factors. The desert is still encroaching at the speed of more than 1.6 kilometres annually. There are almost 3,000 erosion VLWHV LQ WKH 6RXWKHDVW )ORRGLQJ LQ /DJRV LV DQ\WKLQJ EXW ordinary. Rising temperature is increasingly becoming unbearable while agriculturists are struggling to adapt to the attendant climate variability with serious socioeconomic implications. The National Park Service that is charged with the responsibility of protecting swathes of forests and their biodiversity is lacking in capacity apart from being inadequately funded and supported. There is need to completely reset the country’s environmental agenda. The ÀJKW DJDLQVW LQVXUJHQF\ DQG banditry should be ramped up to rein in the devastation and degradation of the natural environment across the country. Environmental remediation measures such as the Great Green Wall Project should be taken more seriously and adequately funded. Stringent statutory provisions should be put in place to protect the various ecosystems and their biodiversity. Besides, there should be more transparency and DFFRXQWDELOLW\ LQ WKH DSSOLFDWLRQ RI (FRORJLFDO )XQGV ² the funds must be made to serve its purpose fully and directly. Tougher measures should be put in place to checkmate wanton emission of noxious and deleterious JDVHV WKURXJK JDV ÁDULQJ DQG XVH RI RXWGDWHG machines. Electricity challenges in the country should be addressed to minimise the use of power generating sets. The Green Recovery Project of the Nigerian &RQVHUYDWLRQ )RXQGDWLRQ 1&) PXVW DWWUDFW GHVHUYHG encouragement and partnership. If we must reclaim our country from the hazards of nature, several important measures will have to be taken in the coming years.

More frightening is the fact that 1.5 million trees are felled everyday owing to illegal logging. About 484 plant species are also threatened with extinction 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 BETWEEN THE US AND NIGERIA’S ELECTIONS 7KH SULPXV LQWHU SDUHV ÀUVW DPRQJ HTXDOV VWDWXV RI WKH 8QLWHG States of America among the comity of nations which pride themselves as the proponents and bastions of modern constitutional democracy was not achieved on a silver platter. The US indeed unGHUZHQW VRPH WXUEXOHQW ÁRZV LQ WKHLU GHPRFUDWLF WUDQVIRUPDWLRQV It is a forward-looking thought to continually juxtapose Nigeria’s democratic practices with the USA. In assessing, the US long and epic journey from crude democratic practices to the current cherished and developed democratic system must be considered. As the modern-day democracy was fundamentally embedded in periodic elections, the trajectory of the electioneering process in the US at the early stage of her political independence was marred with electoral irregularities, ballot snatching, voters’ suppression, widespread mayhem and vote buying. The most controversial electoral fraud in the US political history was the 1876 presidential election between Rutherford B. Hayes and Samuel J. Tilden. The election was pervaded with the campaign of calumny, disenfranchisement of political opponents through intimidation at both candidates’ strongholds and the alteration of electoral results. The election almost tore the nation apart as both presidential candidates lay claim to victory. Besides the preva-

lence of electoral fraud, there was no clear-cut legal and institutional framework to determine the winner. Despite the political conundrum, the US overcame the internal menace without any foreign intervention. The Electoral CommisVLRQ $FW ZDV VSHFLÀFDOO\ HQDFWHG WR UHVROYH WKH HOHFWRUal crisis. The Act provided a 15-member Electoral Commission to arbitrate the disputed result. The pronouncement of the Electoral Commission alongside some political negotiations eventually ended the electoral impasse as Birchard Hayes was declared the actual winner of the US 1876 presidential election. The US has continued to reform her electoral system ranging from the Electoral Count Act (ECA) of 1887, recently amended as the Electoral Count Reform and Presidential Transition Improvement Act, 2022, the Voting Rights Act (VRA), 1965, the Help America Vote Act (HAVA), 2002, amongst other electoral legislative reforms. The United Kingdom (UK) which introduced democracy into Nigeria was not left out in this electoral fraud. The attempt to curb the menace prompted the enactment of the 1872 Ballot Act and the Corrupt and Illegal Practices Prevention Act,1883. In the present day, the electoral fraud in the US has been reduced to the barest minimum. It took the nation many decades of electoral

reforms before they achieved the current illustrious electoral status. Though, Nigeria still lags behind in comparison to the US electoral standard, the pace of electoral development in Nigeria is more rapid. More than a hundred years after the US had gained her political independence, the likes of Isaiah Rynders, John Kelly, amongst other notorious rogues violently engaged in ballot snatching, voters’ intimidation and disruption of opposition political meetings. Many elections also recorded cases where the registered voters’ names were found on tombstones. Having shed light to the electoral antecedents of the US, it is pertinent for Nigeria to emulate the US by resolving her electoral obstacles internally and democratically. Every nation which emotional outbursts of her people had prompted to embrace a direct foreign intervention into their polity has lived to regret their actions. Uninterrupted democratic system has just lasted for 24 years in Nigeria since the country attained political independence in 1960. Between 1999 and 2023, Nigeria has undergone numerous impactful electoral reforms. The continuous overhaul of Nigeria’s electoral institution and laws could only guarantee her the typical US electoral standard.

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

T H I S D AY ˾ WEDNESDAY, APRIL 12, 2023

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

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

08056356325

A T A P R I L

S & P INDEX

1 1 , 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%

Public Debt Stock Up 4.96% to N46.25tn in Q4

James Emejo in Abuja The country’s total public debt stock increased by 4.96 per cent to N46.25 trillion ($103.11 billion) in the fourth quarter of last year (Q4 2022) compared to N44.06 trillion ($101.91 billion) in the preceding quarter. According to the Nigerian Domestic and Foreign Debt Q4 2022 released by the National Bureau of Statistics (NBS), external debt stood at N18.70 trillion ($41.69 billion)

while domestic debt was N27.55 trillion ($61.41billion) in the review period. The NBS however, explained that the share of external debt to total public debt stood at 40.44 per cent while the domestic component stood at 59.56 per cent. Further breakdown of the borrowings revealed that the federal government’s share of domestic debt stood at 80.62 per cent in Q4. In addition, states and the

Federal Capital Territory (FCT) accounted for N1.99 trillion of total external debt and N5.33 trillion of domestic borrowings. The federal government accounted for N16.70 trillion of external borrowing and N22.21 trillion of domestic debts, the NBS stated. The report obtained from NBS website also showed that on state level, Lagos recorded the highest domestic debt in Q4 2022 with N807.21 billion. It was followed by Delta State

with N304.25 billion and Ogun with N270.45 billion On the other hand, the lowest debt was recorded in Jigawa with N43.95 billion, followed by Kebbi and Katsina with N61.31 billion and N62.37 billion respectively. As of December 2022, the country’s exposure to the International Monetary Fund (IMF) stood at $3.26 billion, International Development Association $13.44 billion, and International Bank

for Reconstruction and Development $487.03 million. Exposure to African Development Bank (AfDB) totaled $1.59 billion, Africa Growing Together Fund $18.17 million, African Development Fund $955.61 million, and Arab Bank for Economic Development in Africa $5.52 million. Others include European Development Fund $38.02 million, Islamic Development Bank $140 million and

the International Fund for Agricultural Development ($252.74 million. The federal government’s domestic debt component is accentuated by FGN bonds worth N16.42 trillion, Nigerian Treasury Bills N4.42 trillion, Nigerian Treasury bonds N50.98 billion, FGN Savings Bonds N27.50n billion, FGN Sukuk N472.55 billion, Green Bond N15 billion and Promissory Notes valued at N530.03 billion.

Okomu, Presco, 3 Other Agriculture Companies Generated N35.4bn Profit in 2022 Kayode Tokede Okomu Oil Palm Plc, Presco Plc lead three other listed agriculture companies on the Nigerian Exchange Limited (NGX) to declare a sum of N35.4billion profit in 2022 financial, representing an increase of 19 per cent from N29.81billion profit reported in 2021 financial year. However, apart from Okomu Oil Palm and Presco, three other companies listed in the agriculture sector on the bourse announced losses, attributable to weak revenue, hike in cost of sales and poor corporate governance. The combination of Ellah Lakes Plc, FTN Cocoa Processors Plc and Livestock Feeds Plc announced

N2.27billion loss after tax in 2022 as against N1.61billion loss after tax reported in 2021. The agriculture sector that comprises of four sub-activities Crop Production, Livestock, Forestry and Fishing contributed 26.46per cent to overall Gross Domestic Product (GDP) in real terms in Q4 2022, lower than the contribution in the fourth quarter of 2021 and lower than the third quarter of 2022 which stood at 26.84per cent and 29.67per cent respectively. “The total contribution of the agriculture sector in 2022 was 25.58per cent,” according to a report by the National Bureau of Statistics (NBS). With consistent struggling revenue and losses, these three

companies over five years have not declared dividend payout to shareholders. An investigation by THISDAY revealed that Ellah Lakes and FTN Cocoa Processors for the second consecutive years reported loss after tax, while Livestock Feeds only reported loss after tax in 2022 financial year, over hike in cost of sales and operating expenses. Ellah Lakes in 2022 announced N1.01billion loss as against N563.3million loss in 2021, while FTN Coca Processors declared N431.199million loss in 2022 from N1.48billion reported in 2021. Ellah Lakes in 2022 recorded zero revenue as the company revealed that it has not harvested its oil palms nor its cassava tubers

but its finance costs continued to mount, reaching N568.59million in 2022 from N229.95million in 2021. For Livestock Feeds, the company posted N822.22millin loss after tax in 2022 from N429.7million profit in 2021. Okomu Oil Palm and Presco announced a sum of N37.66billion profit after tax in 2022 from N31.42billion in 2022 as Okomu Oil Palm declared N12 per 50 kobo ordinary share as dividend. The breakdown revealed that Okomu Oil Palm in 2022 hits N16.2billion profit after tax, an increase of 34 per cent from N12.1billion in 2021, while Presco announced N21.47billion profit after tax in 2022 from N19.32billion reported in 2021 financial year.

Okomu Oil Palm and Presco continued to benefit from federal government policies on palm production as both companies recorded N142.39billion revenue in 2022 from N84.82 billion in 2021. Prior to 2019 border closure, palm oil producers suffered revenue decline and losses due to the smuggling of cheaper products from neighbouring countries. This drove the Federal Government to close eight land borders, with domestic palm oil prices rising as high as 50per cent y/y, and consequently improving profit margins for industry players. This trend was, however, short-lived as four borders (Seme, Illela, Maigatari and Mfun) were re-opened a year later after the ravages of the

coronavirus pandemic, while the remaining four (Idiroko, Jibiya, Kamba and Ikom) saw a similar fate in the second quarter of 2022. Commenting, analysts at Vetiva research, said it expected the elevated international prices to reflect in domestic prices, sustaining the bullish momentum of revenue growth. According to them, “However, the reopening of the borders may give rise to the smuggling of cheaper Crude Palm Oil (CPO) from neighbouring countries and consequently drag anticipated price increases. Also, rising inflationary pressures remain a major downside risk to profit margins in the near term.” Continued on page 28

M A R K E T D ATA A S AT T U E S D AY, A P R I L 1 1 , 2 0 2 3 BONDS DESCRIPTION Price ^14.20 14MAR-2024 ^13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

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

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

Yield

BILLS MATURITY

Discount

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

3.01

NTB 11May-23

3.23

3.01 2.21 3.20

3.27

OTC F X F U T U R E S

CPS

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

Yield

6, 0.00 January 2023

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

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

Discount Yield

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

WEDNESDAY, APRIL 12, 2023 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

Addressing High Cost of Shipping James Emejo writes on the need to hasten the commencement of the iconic sealink project which would among other things activate a competitive shipping regime in Africa and curb imported inflation in Nigeria.

n August 2011, the Nigerian Export-Import (NEXIM) Bank and the Economic Community of West African States (ECOWAS) Commission on Private Sector agreed to a $61.5 million deal to have a maritime shipping company that will connect the West African coastal ports in order to facilitate trade. The project, a watershed in regional shipping would particularly connect parts of central Africa to the West African region, and end the undue exploitation of Africans by international shipping companies. The initiative was estimated to cost $60 million in equipment and working capital and $1.5 million for the operation of a Special Purpose Vehicle (SPV) for the promotion of the concept among member countries – and the funding would include 60 per cent equity participation by private investors while the remaining 40 per cent capital would be borne by institutional investors in the form of loan.

SHORTENING SHIPPING LOGISTICS According to NEXIM Bank, the initiative further seeks to build a legacy in the maritime industry and boost the country’s drive to diversify the economy and create jobs as well as modernise shipping and make it more competitive and affordable in the region and the continent in general. Upon assumption of office on May 2, 2017, the bank’s Managing Director/Chief Executive. Mr. Abba Bello had developed a new Strategic Plan (2018 – 2022) to improve its operational performance and achieve NEXIM’s mandate and contribution towards meeting the objectives of the federal government under its growth plans. And as part of the bank’s trade facilitation role towards enhancing Nigeria’s readiness under the African Continental Free Trade Agreement (AfCFTA), the development finance institution has continuously spearheaded

the sealink initiative. Bello said the shipping initiative would foster regional trade connectivity and facilitate inland waterways operations to support hinterland trade and bulk commodities exports, especially of solid minerals. Only recently, the project got a boost with the unveiling of navigational charts for the lower River Niger through the joint efforts by hydrographers of the Nigerian Navy and the National Inland Waterways Authority (NIWA) with financial support from both NEXIM and Afreximbank. The survey comprised 12 paper and electronic charts to ensure navigational safety of the lower River Niger channel to boost both hinterland and coastal trade. Bello pointed out that as a trade policy institution, the bank embarked on the deliberate policy initiative to bridge maritime infrastructure gaps towards lowering logistics costs to foster trade with the promotion of the regional sealink project. He noted that as a Special Purpose Vehicle (SPV) under a public-privatepartnership framework, Sealink will essentially enable the bank to significantly broaden the national export basket. The cessation of the use of the Burutu port in the mid-1970s substantially led to a considerable level of disuse of the river channel for mercantile trade, leading to the siltation of the channel over the years that resulted in navigational challenges. This, therefore, informed the decision of NEXIM to partner with Afreximbank, the Nigerian Navy and NIWA to undertake the survey/ charting exercise. The bank’s efforts at liberating the continent from the complex shipping operations by global fleets promptly received the commendation of the

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who praised NEXIM for its determined drive to implement government policy initiatives and for the inter-agency collaboration on the Sealink initiative. Bello had said that the expected multi-million dollar sealink project, would boost intra-African trade, foster regional trade connectivity and facilitate inland waterways operations to support hinterland trade and bulk commodities exports, especially of solid minerals.

LOGISTIC BARRIERS If anything, the sealink project remained a major step in deepening trade within the ECOWAS sub-region as well as chart an efficient sea transportation system that would enable the ECOWAS sub-region to move goods from one member state to another as well as stop any capital flight within the region as well as provide jobs to the unemployed class in the region. According to the NEXIM Bank MD, the rationale for the project was to deepen trade within the ECOWAS sub-region as one of the major trade barriers identified was how the country could move goods by sea in view of the problem associated with land transportation particularly multiple checkpoints, and harassments by security agencies – and it was impossible to increase trade flows between member states by trucking. The bank said, “One of the major reasons why we have to embark on this is that, if you have to move your goods from Lagos to Kema port or any city in Ghana, it would take you about three days; but if you have to move your goods from Apapa Ports to Tema Port, it’ll take you a minimum of 60 days and the simple fact is that we don’t have Cargo vessels here-they either move

to South Africa or they move to Europe and do a trans-shipment. “Under that kind of scenario, there is no way you can deepen trade; there’s no way you can integrate what even the ECOWAS commission is trying to do.” Missed implementation timelines Nonetheless, the launch of the sealink project has continued to drag on, in spite of its potential to increase intraAfrican trade which remains below 11 per cent at a time other countries are trading 40 per cent to 50 per cent with one another. The project had been scheduled for launch by end of 2021 before the implementation date was later announced for the first and second quarters of 2022.

ANTIDOTE FOR IMPORTED INFLATION At a period when inflation remained a threat to the economy, no doubt, the operationalisation of the sealink concept will curb rising prices of imported commodities from which inflationary pressures were further derived. In a recent chat with THISDAY, Chairperson of the Sealink Implementation Committee, Mrs. Dabney Shall-Holma noted that “A cargo will leave Nigeria and is going to Liberia or Sierra Leone or Côte d’Ivoire or Senegal - and it would go all the way to Europe and be trans-shipped for weeks and sometimes months before the same cargo is brought back to Africa.” Accordingly, the sealink project was conceived to also reduce the cost of shipment among African countries, pointing out that expenses were often three times more when allowing goods meant for destinations within the continent to be shipped to Europe and bring back again home. Bello, however, added that the initiative was conceived, promoted as well as funded by NEXIM to respond to complaints and worries of shipping companies, exporters, and importers whose trade was suffering on account of trans-shipment to Europe.

OKOMU, PRESCO, 3 OTHER AGRICULTURE COMPANIES GENERATED N35.4BN PROFIT IN 2022 Commenting on Presco, Vetiva said, “ Looking ahead, our outlook for domestic and international CPO

prices remains strong, driven by a weak supply of CPO substitutes. However, we expect global prices

to be slightly tempered on the back of increased CPO production. “That said, a headwind to

domestic CPO prices is the reopening of the land borders, which could give rise to

smuggling activities. On the cost front, we expect cost lines to remain pressured in H2’22,

fueled by the rising cost of AGO, fertilizers and overall inflationary pressures.”

WEDNESDAY APRIL 12, 2023 • T H I S D AY

WEDNESDAY, APRIL 12, 2023 ˾ T H I S D AY

BUSINESSWORLD

PERSPECTIVE

Seplat, Roger Brown and Racism: Now, Let the Trial Begin Dr. Law Mefor

“These accusations include racism, favouring foreign workers, and discriminating against Nigerian employees. Testimony was received from several witnesses, which supported the allegations. Mr. Roger T. Brown declined to attend despite two invitations, claiming to be unavailable even though we learned he was in Abuja for other purposes at the time. “Investigation and records in the Ministry also revealed that Mr. Roger Brown had CERPAC that was not based on validly issued Expatriate Quota approved by the Ministry of Interior resulting in the violation of relevant Immigration Laws and Regulations. As a result of these, the Honourable Minister has determined that Mr. Brown’s continued stay in Nigeria is contrary to the national interest. “Consequently, the Ministry has withdrawn the Work Permit CERPAC, Visa, Residence Permit, and all relevant documents that authorised Mr. Roger Thomson Brown’s entry or stay in Nigeria”.

lot has been written and said since the federal government’s action revoking the visa, residence, and work permits of the Chief Executive Officer (CEO) of Seplat Energy Plc, Mr. Roger Brown, following his indictment by the Ministry of Interior for racist practices, discrimination against Nigerians, favouring of expatriate workers, and breach of good governance codes. The Federal High Court order, which barred Brown from parading himself as SEPLAT’s CEO and restrained SEPLAT’s Chairman, Mr. Basil Omiyi, and the Independent Non-Executive Directors from “continuing to run the affairs of SEPLAT in an illegal, unfair, prejudicial, and oppressive manner pending the hearing and determination of the Petitioner’s Motion on Notice for an interlocutory injunction” have also generated interest. While the FG’s action resonated with many Nigerians and SEPLAT Nigerian employees, who are happy to see their government rise in their defence, it has expectedly not gone down well with a few, who have put up all manner of arguments in support of SEPLAT and the embattled CEO. There are a few, who have argued, albeit strangely, that the sanction meted to Brown and SEPLAT, a foremost indigenous oil and gas industry enjoying dual listing on both the Nigerian Stock Exchange and London Stock Exchange could be a disservice to Foreign Direct Investment. Some even challenged the jurisdiction of the court to hear the case brought against Seplat, Brown, the Board Chairman, Basil Omiyi, and others, while some felt the interim order was unmerited. Some narrowed it down to boardroom politics, whereas a few challenged the locus standi of the Petitioners to bring the case. Instructively, the few naysayers were comfortable not to talk about the real issues at stake such as: Are there racist practices at Seplat? Is racism a serious crime against humanity? Should we condone racism and mistreatment of Nigerians on their land as a way of attracting FDI? Did the Ministry of Interior avail Mr. Roger Brown the opportunity of a fair hearing? Did he honour the Ministry’s invitations? Could a Nigerian CEO of a UK company in that country afford to ignore the invitations by the UK authorities to answer to even less grave matters? Do Nigerian and SEPLAT employees deserve justice? Did the Omiyi-led Board try to investigate the matter before and after the Nigerian employees took the matter to the Ministry of Interior and before the aggrieved shareholders took the matter to court? If not, why? It was therefore a welcome development when the media broke the news to the effect that Justice Chukwujekwu Aneke of the Federal High Court, Lagos, had vacated the interim order of 8th March 8, 2023, she had earlier made in Suit No. FHC/L/402/2023 barring Roger Brown from parading himself as SEPLAT’s CEO. In doing so, however, Justice Aneke rejected the submission by the Respondents that the matter should be struck out for lack of jurisdiction, while equally maintaining that the Petitioners - Kenneth Nnabuike, Moses Igbrude, Ajani Abidoye, Sarat Kudaisi, and Robert Ibekwe - who are shareholders of Seplat alleging that the affairs of Seplat were being conducted in a manner that was illegal, racist, oppressive, and unfairly prejudicial to their interests, had the locus standi to file the case. He equally granted the prayer by the Petitioners for an accelerated hearing of the matter to May 16. Justice Aneke ruled: “I find as a fact that the Petitioners’ grouse can adequately be accommodated under the provisions of

THE IMMIGRATION ISSUES REMAIN

Brown and Omiyi

Section 354 of the Companies and Allied Matters Act, CAMA to which provision falls within the jurisdiction of this court. “There is no doubt that the application of this provision can be made by a member of a company, who alleges that the affairs of the company are being run oppressively. “Parties are in agreement that the petitioners are members of the 1st Respondent (SEPLAT), which is within the meaning of the provision of Section 354 of the Companies and Allied Matters Act, CAMA, and this has not been controverted by the Respondents. “It is equally a fact that the averments in support are issues that can be comfortably capsulated under Section 354 of the CAMA. This is because when the entirety of the grouse of the Petitioners are read along with averments in support, they point to the fact on whether the affairs of the First Respondent are being run oppressively, and against the interest of the Petitioners. “I find and hold that the Petitioners have locus standi to bring the petition before the Court. Furthermore, this court has regular jurisdiction to adjudicate on the suit as it falls within the provision of Section 25 (1) of the Constitution. “However, by Order 26 Rule 9 and 10 of the Federal High Court Civil Procedure Rules 2019, the interim order of the court made on 8th March 2023 is hereby discharged and vacated”.

THE STAGE IS SET Consequently, the stage is now set for one legal battle that will occupy news headlines in Nigeria and probably outside Nigeria in the next few months. As earlier stated, the case Petitioners predicated their case on the alleged racist practices and breach of corporate governance codes perpetrated by Mr. Brown and condoned by the Omiyi-led Board. Exhibited in their court processes is the Seplat Nigerian employees’ petition to the Honourable Minister of Interior and the Minister’s letter slamming the

sanctions on Roger Brown. The petition dated 31st January 2023 accused Mr. Brown of intimidation, bullying, and sacking of Nigerian staff of SEPLAT; discriminatory retirement enforcement that sees the Nigerian employees retired at 60 in line with the company policy while expatriates 67- years old Rymll Peter, 62 years old Carl Franklin, 61-year-old Thomas Hywel, and 67 years old Lagos-based Ian Maclean remain in Seplat’s employ; abuse of corporate governance, the relegation of host communities, relocation of SEPLAT technology office to Aberdeen; intimidation of senior staff and members of the senior management team; bullying of Nigerian staff by foreign nationals; spending of over $5 million to shuttle between Lagos and his London home after allegedly collecting a relocation allowance from Seplat, etc. Equally interesting in the long list of infractions by Brown is the alleged plot to sell the company to South African fronts. They wrote: “Mr. Roger Brown has perpetrated abuse of Corporate Governance by giving racist South African investors preferential treatment amongst other shareholders of SEPLAT. He recently brought these investors to Nigeria and took them to our field operations without other investors from Sub-Saharan Africa and Nigeria. This is a gross abuse of corporate governance, which prescribes that all shareholders should be treated equally. This is a Market Practice Abuse by the CEO. There is also information that Mr. Brown wants to secretly acquire Seplat from the Capital Market, using his South African fronts”. Following investigations into the allegations, the Ministry returned a verdict in a letter dated 3rd March reads. It reads: “I write to inform you that the Ministry receives a petition from the Solicitor to the concerned workers and stakeholders of Seplat Energy Plc accusing Mr. Rogers Thomson Brown, the CEO of the company of various allegations.

While Nigerians await the outcome of the trial, it is yet to be seen how the vacation of the court interim injunction would be of use to Seplat since Mr. Brown would still not be able to fly into Nigeria let alone live and work in the country as the immigration papers remained annulled. Another reality is that going by the extent provisions of the Immigration Act 2015, the FG can still slam criminal charges against Seplat and the embattled CEO. Section 58 Immigration of Act 2015 states: “It is an offence for any employer of persons liable to repatriation to discharge any such persons without giving notice to the Comptroller-General of Immigration, or for any such employed person to be redesigned, or change his employment, without the approval of the Comptroller-General of Immigration, and upon conviction, the employer if not a citizen of Nigeria and the employed person, as the case may be and his dependents shall, if the Minister thinks fit, be deported and the business of the employer may be wound up as prescribed by this Act”. Section 105(1) provides: “Where an offence under this Act or any other relevant law committed by a body corporate is proved to have been committed on the instigation or with the connivance of or is attributable to any neglect on the part of a director, manager, secretary of the body corporate, or any person purporting to act in any such capacity, the officer or person is liable on conviction to imprisonment for a term of three years or to a fine of Two Million Naira or both…” Section 105 (2) provides: “Where a body corporate is convicted of an offence under this Act, it is liable to a fine of Five Million Naira and a court may issue an order to wind up the body”. The question then is, even with the vacation of the court order, should Brown still be carrying on as the CEO or an employee of Seplat, a Nigerian registered company when his work permit is already withdrawn? Is it not impunity of the highest order? Can a Nigerian company or employee try this in the UK where he comes from? The answer is negative. Also, why are Omiyi and the Board he leads in continued acting with regard for the Nigerian laws and authorities? Why does the overwhelming rejection of Brown by SEPLAT’s staff appear not to bother them? Only time will tell. But until then, let the actual trial begin. t %S .FGPS B 'PSFOTJD 4PDJBM 1TZDIPMPHJTU JT B GFMMPX PG UIF "CVKB 4DIPPM PG 4PDJBM BOE 1PMJUJDBM 5IPVHIU

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

INTERVIEW Prof Griffith: Leaders Must Think More Strategically for Success During Volatile Times In this interview with Paul Griffith, the world’s first professor of management to lead a team to launch a rocket, insights are shared on how world leaders can better manage change in the present uncertain times at the forthcoming capacity development programme of TEXEM UK.The programme’s title is ‘Strategic Leadership For Enduring Impact During Volatile Periods’. It will be delivered by Ambassador Charles Crawford (winner of the equivalent of two Oscars), Oxford-trained Professor Roger Delves and Prof Rodria Laline, the founding director of the Harvard University Maximise Your Board Programme and Griffith, a London Business School alumnus. How do you foresee the TEXEM April 2023 programme, ‘Strategic Leadership For Enduring Impact During Volatile Periods’, impacting the African leaders? he programme offers a broad range of topics to support African leaders in developing the skills and capabilities required to fulfil their leadership potential in the 21st century. The TEXEM programme will also equip leaders with actionable skill sets that will help them inspire their team and organisation to solve societal challenges better and, in the process, enhance their core competence to harness the limited opportunities available in turbulent times.

combines self-paced study and live sessions. Participants will study for an average of one hour every day between 15 April to 6 May, and there will be live sessions every Saturday for four weeks. The experience has been gamified such that participants will get points ranked on a league table for every article read, video watched, and comment made.

Tell us brieﬂy about your unique experiences and how they will assist the global and African leaders in handling the present leadership challenges they are facing. In my executive career working in the oil & gas, telecoms and space industries, my roles always involved creating new business models, leveraging new technologies and driving profitable growth, so I have actually led organisations in these circumstances. In addition, working as an educator and consultant, I have engaged with global organisations to support their executives in developing themselves and implementing best practice thinking for the benefit of themselves, their teams and their organisations. I will also leverage TEXEM’s proven and tested methodology that has consistently made learning fun, engaging, stimulating, impactful and memorable for over 4000 executives in the past 13 years. How would you advise organisations to position themselves to gain from participating in this programme? Encouraging executives to be lifelong learners is the starting point for any organisation with the ambition to succeed. This TEXEM programme will encourage peer-to-peer learning through the group task that will be assessed and will help participants to enhance their social capital and

How could executives develop strategic leadership for an enduring impact in this volatile period? In this programme, executives will be introduced to tools and concepts – they will benefit most from this programme by experimenting and applying these ideas during their time in the programme so that they feel confident to take them back into their organisation. Furthermore, the TEXEM methodology will enable leaders to quickly spot and equip their team to harness opportunities and manage associated risks despite the operating context characterised by the fast pace and stiff competition. Thus this TEXEM programme will inspire executives with actionable insights that will enable their organisations to navigate uncertainty successfully and win.

Paul Griﬃth help their organisations to forge critical alliances with key stakeholders, which could be a resource that is difficult to imitate and is necessary for unlocking scarce value. What possible experience should executives look forward to during TEXEM’s forthcoming programme titled ‘Strategic Leadership for Enduring Impact During Volatile Periods’, which holds between April 15 to May 6,

2023, for the African leader? Executives can expect to be introduced to new ideas and frameworks that will give them a toolkit to apply in their organisation to drive their strategic leadership capabilities forward. Executives will learn from leading thinkers and educators, sharing best practice approaches to strategic leadership engagingly and practically. The TEXEM’s ‘UK Strategic Leadership for Enduring Impact During Volatile Periods’,

What are contemporary strategic leadership issues affecting ﬁrms that leaders must address, and how can they address them? Examples of strategic leadership issues are understanding strategic concepts and the competitive landscape, developing an innovative culture and engaging with new technologies. To address these issues, leaders need to think more strategically and ask better strategic questions to build an environment of improved psychological safety and agile responsiveness and to develop new business models that embrace digital technologies. Thus, this TEXEM programme on strategic leadership will equip executives with the requisite skillsets that will enable them to optimise their capability to anticipate, challenge, translate, influence, collaborate, relearn and unlearn for the effective and efficient attainment of goals.

Twenty Cheers to the EFCC By Williams Oseghale It was the late Afrobeat music icon, Fela Anikpulapo Kuti who in one of his evergreen songs, Authority Stealing highlighted the magnitude of corruption and stealing of public funds by government officials and public servants. In his song, Fela stated that stealing by government officials with the use of pen was more than armed robbery. Permit me to reproduce part of the lyrics here .“Authority Stealing pass armed robbery. We Africans must do something about this nonsense, We say we must do something about this nonsense, I repeat, we Africans we must do something about this nonsense. Because now authority stealing passes armed robbery. Though the song was released in the 1980s, a period when Nigeria’s two most notorious and deadly armed robbers, Lawrence Anini and Shina Rambo held the nation hostage, terrorized the citizens before they met their waterloo, Fela’s song signposted the level of decadence and malfeasance in the country. Matters were made worse with the advent of advance fee fraud aka 419 which became so rampant that, at the international level, Nigeria almost became a pariah nation due to their activities. For many Nigerians who had to travel outside our shores, holding the green passport was akin to being infected with leprosy as they were despised and subjected to all kinds of inhumane treatment at embassies and airports. Foreign investment dried up as Nigeria was considered an unsafe place for investment. Nigeria was hemorrhaging due to corruption. Determined to tame this monstrous cancer, President Olusegun Obasanjo established the EFCC on April 13, 2003 to combat the menace of corruption, economic and financial crimes. Saddled with the onerous task was the no nonsense Nuhu Ribadu, a courageous, intelligent and daring police officer. Ribadu gave the assignment his all and sanitized the space not minding whose ox was gored as those who were hitherto regarded as untouchables were arrested and prosecuted for fraud. This set the tone as EFCC became

EFCC Chairman, Abdulrasheed Bawa a household name with enormous goodwill. The Commission was unyielding as Nigerians saw former governors, ministers and other politically exposed persons, PEPs, arrested and prosecuted. The fear of EFCC became the beginning of wisdom. Truly, the Commission in 20 years has performed creditably in the discharge of its core mandates of prosecution, enforcement and asset recovery. Today, it stands tall in the midst of other anti-corruption bodies globally and can proudly showcase its achievements which include securing thousands of convictions and recovery of monetary and other assets running into billions of naira. Significantly, these convictions cut across all strata, as PEPs, law enforcement personnel, internet fraudsters, bankers and others have been convicted. The Commission expanded the scope of criminal jurisprudence by testing the law in its efforts to get justice and deal with those who infringed on the law. And on the strength of their diligence and knowledge of the law, hordes of Commission’s lawyers have

been appointed judges at state high court and federal high court while a few have been conferred with the revered rank of Senior Advocates of Nigeria. On prevention, the Commission collaborates with relevant agencies and regulatory institutions to nip corruption in the bud. It has also initiated programmes targeted at ensuring that Nigerians buy-in and take ownership of the fight against corruption. It has strategically engaged impressionable young minds through enlightenment and re-orientation to uphold the right values and shun acts of criminality. This success in its core mandate is why Professor LMO Lumumba, former Director of Kenya Anti-Corruption Agency and a renowned public speaker posits that with EFCC, there is hope not only for Nigeria but the entire continent of Africa. “The EFCC stands out as one of the best on the continent. They are the best in the continent, not only because the building that houses them is the biggest in the world, but also because they have demonstrated by word and deed that corruption can be tackled, and tackled without sacred cows.” As the Commission celebrates its achievements, the reality is that corruption, like a cat with nine lives, still permeates every sector of our society. So why does corruption thrive despite concerted efforts to tame the monster? Perhaps, as suggested by a 15-year-old boy whom I met in one of the secondary schools during an enlightenment campaign on the ills of corruption in our society, corruption is in our DNA and may have been inherited from our forebears. I did not agree with his submission as there are many Nigerians who have displayed utmost integrity. We have seen cleaners at the Murtala Muhammed International Airport, on several occasions, return money found at the Airport to the owners. We have also seen taxi drivers return valuable properties left in their cars to their passengers. Of course, Nigeria’s only premier minister, Abubakar Tafewa Balewa who was assassinated in a military coup in 1966, had little or nothing in his bank account when he was killed. He did not amass wealth nor did he bury his money in the sand as many politicians

are doing today. While there is no medical proof that corruption is in our DNA, what is obvious is that there are enablers of corruption around us. It is pathetic and despicable, when society celebrates and eulogizes those who stole our commonwealth rather than loathe them. We have seen situations where hundreds of supporters of a PEP undergoing trial wear aseobi to court to drum up support for the alleged suspect because ‘he is our person’. We have also seen hirelings go on electronic and social media space to castigate the Commission for daring to investigate or prosecute ‘our person’. Recently, some young people bearing posters and banners, demonstrated on the streets because EFCC dared to arrest some internet fraudsters. Though the Commission is undeterred by all this, critics deliberately misconstrued the work of EFCC and termed it asmedia trial. Truly it is difficult to decipher or understand what they mean by media trial. As a law enforcement agency, the Commission is duty bound to be open and transparent in its operations. So when the Commission arrests a suspect for alleged offences or arraigns a high profile suspect in an open court and informs the public about it through journalists whose professional duties it is to report events as they unfold, the EFCC is castigated for engaging in a media trial. If a high profile suspect is invited for interrogation and he chooses to organize a press conference on top of his invitation, or goes to court, seeking to bar the EFCC from performing its statutory duties, the Commission is castigated for engaging in media trial. Fighting corruption has been a herculean task fraught with landmines, challenges and difficulties. But in spite of all, the Commission like the eagle continue to soar higher and break new grounds. Ray Ekpu, one of Nigeria’s foremost journalists, in his opinion piece on the presidential election alluded that the ‘advantage of disadvantage’ was fundamental to the emergency of the winner. For the EFCC, it has been the advantage of many challenges. r0TFHIBMF JT )FBE 1VCMJD "GGBJST #FOJO ;POBM $PNNBOE

T H I S D AY ˾ WEDNESDAY APRIL 12, 2023

EDUCATION Ademola Azeez: Graduates’ Database Will Stem Brain Drain in Nigeria Among the challenges Dr Ademola Azeez is grappling with as the provost of the Federal College of Education, Technical, Akoka, Yaba, is staff attrition, as many professionals are leaving the country for greener pastures abroad to the detriment of the system. He said the government can curb brain drain by having a database of graduates, just as he highlighted his achievements in office so far and other issues affecting teacher education. Uchechukwu Nnaike reports

n May 2019, when he assumed office as the Provost, Federal College of Education, Technical, Akoka, Yaba, Dr Ademola Azeez sought to fulfil the founding fathers’ dreams to fill the gap in technical and vocational needs of the country. This, he said, would enable the graduates to not only teach but also be skillfully engaged anywhere they are employed. Or they can decide to establish their own businesses. Azeez pursued this goal with vigour by strengthening the college’s academic programmes to ensure that most of its departments are better equipped and that lecturers and instructors are given adequate support in terms of teaching and learning facilities and materials. “That is why we focus on also developing the infrastructure of the college because, without infrastructure, there is little or nothing a lecturer can do. We need to also use these infrastructural facilities to enhance teaching and learning so that students can benefit maximally,” he said. According to him, he ensured that infrastructure are evenly distributed among the five schools. The vision also led to the establishment of the Centre for Vocational, Technical and Entrepreneurship Development (CEVTED), where all students are mandated to register for any entrepreneurial skill of their choice, which is different from the normal academic programme. “Whether you are a science or business education student, you must go to that centre to offer a course. And what we do is that we don’t rely on lecturers from the college,” he explained. “We are relying on established instructors from outside who have their own workshops, offices and equipment. We invite them. It’s not really based on an acquisition of paper certificates, but the acquisition of practical skills, and there is a long list of courses they do there.” He said initially, it started as a non-credit programme (practical 80:20 theory). “They’ve been doing it, and they are in the 300 level now. Many of them have been practising what they have learnt there, and they are making money with it. It’s also an aspect that I feel should be keyed into the establishment of the colleges of education (technical),” Azeez said. Considering the cost of equipment for technical and vocational education, the provost said since he assumed office, he has made efforts to overhaul the obsolete equipment in studios and workshops to meet the requirements of running NCE and degree in vocational and technical and science education. “Fortunately for us, the Tertiary Education Trust Fund (TETFund) has been wonderful. If not for TETFund, I don’t know where our higher institutions would have been today. We have been getting our funding from TETFund majorly, especially for the procurement of equipment,” noted the provost. “What we do is allocate a substantial part of that funding for teaching and learning equipment, which are also distributed to various departments.” He desires to make every school have a new infrastructure where students can learn better regarding skills acquisition. “We have technical workshops, we have a new science laboratory; we also have new studios in Agriculture and Fine Arts. We also have a new auditorium/lecture theatre because the students also need a comfortable place to

Dr. Ademola Azeez study,” Azeez stressed, pointing out that it may be in private universities “that you see students taking lectures in air-conditioned rooms.” He added, “When we were in universities in those days, we used to sit in air-conditioned lecture rooms. We are bringing back that tradition to the college so that any student that passes through this place either for NCE or degree will be happy that he or she attended this institution.” For private sector involvement, Azeez said he established the Centre for Endowment Development Advancement and Alumni Relations (CEDAR), a directorate that liaises with entrepreneurs, private organisations and others. “We’re relying on the fact that the college has goodwill; we have tried to attract many of our alumni scattered all over the place to come and do something for their alma mater,” stated the college provost. “As we are also preparing for our convocation on April 26 and 27, we hope that many of them will also be here to support the college. We are hopeful that such support will come because the alumni who have been coming around have seen what we have been able to do with the little resources we have. If we are to be a fully degree-awarding institution, we would have got better funding.” Despite his efforts to reposition the college, the provost decried the staff attrition rate. “For the past two years now, there is no month that my staff don’t resign for one thing or the other, both in academics and administration. They are going for greener pasture,” said Azeez. “Until we are able to value those we have trained; after their training, they must be catered for in terms of remuneration.” He said the government should have a database of its graduates to address Nigeria’s brain drain. “If someone is applying for a visa,

from the database, you would be able to know that this is a Nigerian. Where does he work? If he wants to go for further studies or something else you would be able to know. So, if he’s travelling abroad for this thing, on record, you would be able to ask how many years he is spending,” the provost explained. “What is he going there for? “If he has just finished school and he is going abroad, the government must be interested in where he is going and what he is going there to do; because that person that wants to travel abroad has been trained by the state, with taxpayers’ money.” According to him, there is no database. “When someone graduates, he leaves. Somebody who was even given maybe student loan, there is no record. Nothing. We need that database,” Azeez said. He said he is trying not to let the system collapse, adding that the college needs staff/ lecturers in all departments. “And the staff are not only resigning, some are also retiring; some even died; and for the past three years, there has been an embargo on employment. You cannot employ a single soul now without the head of service’s approval. We have made presentations even to the National Assembly,” stated the college provost. Azeez stated that close to four years now, “I can’t boast that I have employed two or three staff -even though the law allows me to employ certain categories of staff without even going to the council,” explaining that after six months, “then I can now present them to the council. But since the introduction of IPPIS, the story has changed.” He further stated, “We learnt that the embargo had been lifted now, and our college has been pursuing it to make sure that before I even finish my first tenure, let me even employ few staff. In the past three years, about three senior lecturers have retired. As big as this college is now, in academics, we don’t have more than one or two assistant lecturers. And these are the staff that should come in from that level. You would get to a department, maybe the least lecturer there is a senior lecturer. We hope that things would change.” Commenting on parents’ apathy to colleges of education, the provost said no parent wants his or her child to go for the least educational programme in a higher institution. “If you look at the requirements, it’s the same five O’level results that an NCE student possesses that a university undergraduate also possesses. So if you go for JAMB and you score maybe 180 and above, and you’re given admission to the university, you prefer that to the college of education where you will spend three years for the NCE programme (though we’ve been trying to also change that),” said Azeez. “You go for three years for NCE and later another three years, making six years. Somebody in the university would have spent those six years to read medicine - even though ultimately, if Nigeria is able to appreciate teacher education, it’s good for the system.” He said the sad story is that even after spending six years, many NCE graduates are just roaming about the streets, being exploited by private institutions/schools that are not paying them well because there is no serious policy on the ground. He, therefore, called for a system that works

and appreciates and values labour, whether practical or intellectual. “I don’t expect to find a university graduate teaching in primary school or junior secondary school, it should be NCE graduate because they are trained for that purpose; 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,” Azeez said. He argued that education in Nigeria is highly subsidised by the government, but it is not properly coordinated for people to get value for it. “For example, after training medical students here for six, seven years, they start work, there is no programme on the ground before you know it, they are taken away abroad. An average person cannot train his or her child to read medicine abroad. He must be somebody of a higher class; to train a candidate for medicine or any other professional courses. There must be a programme on the ground to ensure that doctors hardly leave the country, and they must be made to sign an undertaking that if they finish the programme, in the next five years they cannot travel anywhere.” Highlighting the projects executed by his administration, the college provost said most of them are either being completed or nearing completion. “I initiated the construction of the technical education workshop, a new structure that is more than 90 per cent completed now. I also initiated the School of Science laboratories for all the departments in the School of Science. We have the Physics Education Department laboratory, Chemistry Education Department lab, Integrated Science lab, Biology lab and the Computer Education lab,” Azeez stated. “They are completed now. I also initiated the construction of a 500-capacity lecture theatre, the first of its kind in the college. It’s been completed and has been handed over to us by the contractor.” He also revealed that he initiated the construction of infrastructure for Fine Arts and Agric Education in the School of Vocational Education, about 90 per cent completed. Azeez also mentioned that he initiated the “Student Activity Centre,” the first in the college. “It’s TETFund-funded. It’s completed now. We are also renovating the auditorium of the School of Education. We have also constructed a new office block for the lecturers there,” said Azeez. On programme accreditation, he said since he assumed office, the college has conducted accreditation for its NCE and degree programmes, affiliated with the University of Benin. “Most of our programmes have been fully accredited. Those that were given interim accreditation before I came in, we made sure we got full accreditation,” he explained. “You know accreditation is usually every five years. All the programmes were not given accreditation at the same time. Maybe this year, we may have one or two programmes.” Apart from staff attrition, he said funding is another major challenge, adding that there are many things the college needs to do, especially in terms of infrastructure. But it is not able to meet up because of lack of funding.

Alake Lauds Buhari for Establishing Federal University of Medicine in Abeokuta The Alake Egbaland, Oba Adedotun Gbadebo, has commended President Muhammadu Buhari for signing into law the establishment of the Federal University of Medicine and Medical Sciences in Abeokuta. In a letter personally signed by the paramount ruler, he, on behalf of the entire people of Egbaland at home and diaspora, expressed his profound gratitude to Buhari for his consent for the newly established university. The first-class monarch said that given the Egbas’ acclaimed penchant for education

for centuries, the new medical university would further cement his domain as a leading citadel of excellence. The monarch said, “Mr President, your gesture underscores your love for humanity, especially for the Egba people. Assuredly, your name shall be immortalized in the Kingdom’s Hall of Fame as a harbinger of education and capacity development.” The bill for establishing the

University of Medicine and Medical Sciences, Abeokuta, was introduced to the Senate by the senator representing Ogun Central and chairman of the Senate Committee on Health (2015-2019) Senator Tejuoso in 2018. His successor, Senator lbikunle Amosun, adopted and concluded the process. Lending his voice to another landmark achievement brought to the region, Tejuoso commended Buhari, the Egba monarch and Amosun, saying that he is grateful to God that the collaborative effort has yielded the desired result.

Buhari

T H I S D AY ˾ WEDNESDAY APRIL 12, 2023

EDUCATION

Kenechukwu Nwosu: I Produce Books with Learners’ Picture in My Mind The chairman of Abia State Universal Basic Education Board, Kenechukwu Nwosu, explained what inspired him to walk the path of his uncle, Prof Chukwuemeka Ike to become an award-winning writer, publisher, educator and administrator, the unique features of his books, among other issues. Excerpts:

dealer in Abia State, and I opened my books unhindered to all public and primary schools in Abia State with government approval. From Computer Education, I wrote books in Basic Sciences, Agriculture, English, story books, moral lesson books and numerous books for nursery schools. From Abia, I got approved by Enugu, Ebonyi, Anambra, Rivers, Bayelsa States and many other states in Nigeria and moved quantities of books into schools.

hen did you discover your passion for writing? My interest in writing books was discovered when while growing up, I usually visited the fully sophisticated library of my mum’s elder brother, Prof. Vincent Chukwuemeka Ike, who was the First Registrar of the West African Examinations Council, President of the Nigerian Book Foundation, who has written numerous books including Toads for Supper, Expo 77, Sunset at Dawn, Chicken Chasers, Naked Gods, Potters Wheel. He also had high stakes in some of Nigeria’s top publishing companies. The vision of being an award-winning writer, publisher and educationist had become imprinted in my dreams from age 15 that someday I will become a popular writer, publisher and education executive administrator. You’ve authored over 40 books, where did you get the inspiration? By age 20, I had already started discovering my strengths in English grammar (an essential tool for writing) through personal studies I did to train myself and also started putting down scripts of books. By 2003, I launched out to put my first book in print, and when a major publishing company in Nigeria asked to take up publishing and marketing to give me some royalty from sales, I thought it better to explore entrepreneurship by having a company which can publish my books and market them. In doing this, I created jobs for my mates I did NYSC with my friend from Bayelsa State, where I served Nigeria to be my pioneer sales staff team to market my books in Aba, Onitsha and as far as Lagos state. Can you share brieﬂy how your books were recommended texts for the Nigerian school curriculum? After putting my first books together, which included Computer Science for Schools at a time when computers were not too common

What are the names of the books you’ve written? The Good Life books 1- 3, Welcome to College Introduction to Computers 1- 6 and JSS 1-3, Basic Agriculture 1-6 and many other books on English Language, creativity and more.

Nwosu in schools. I took these books to the Enugu State Ministry of Education, but unfortunately, by the time I got there, I was told to come back six years after as they had just concluded the book review, so had no option but to wait for six years. While waiting, I decided to travel back to my state Abia to introduce it. There, I discovered that the best way to introduce this subject which was not taught in schools yet as a result of no trained teacher as of 2004, was to train teachers free of charge on this subject area to get the Abia Ministry of Education to approve it as a subject. With this, I quickly penetrated the huge virgin market. I brought computers and trained over 1,500 primary and junior secondary school teachers free of charge. With this, I was the first and only computer books

Why are your books different? My books are unique because of my deep and practical experience in teaching children spanning over 20 years, my graphic and illustrative expertise and my simplified approach towards producing books easy to understand. I produce books with the picture of the learners in my mind and ensure I use feedback from teachers, parents and students to improve my books. I continue to improve my books to match global standards.

Should we expect more books from you in the near future? Yes, I am producing many more books now. The book industry is vast and dynamic. I am converting my present books to electronic copies and putting them in formats to facilitate their use for electronic learning and audio broadcast. I am producing a new set of children’s stories backed with animations for broadcast in my educational media network in full screen and other portable formats. Many children who used my books in their nursery and primary schools have become university graduates in the world today, and that gives me the greatest joy and fulfilment in life for contributing to the educational success of many generations.

In Nigeria, most nursery and primary schools accept books with the British curriculum, what is your view and does that affect you? My books and my personal brand are seals of quality and well sought after by schools. I encourage books on the British curriculum to be used in our schools. Having attended numerous certificate courses with Cambridge Learning and British Council, I fully appreciate the quality of the British education system, which is one of the best in the world. Exposure to diverse systems of learning is encouraged for our children to prepare them for a wider knowledge

How have you given back to society from all your achievements as an author and publisher? I have, over many years, given out thousands of my books free annually to children in rural areas in Abia state, Bayelsa state etc. In 2011, I started a project of giving free books to orphans in orphanages to support their education. I also make time to visit orphanages to read stories to children there and teach them how to write using some books I produced on handwriting. Reading and writing at the Basic Education level remains the foundation for learning, and that’s my major goal in giving back.

Greensprings Anthony Campus Sahara Group Foundation Organises Sports Day to Enhance Inaugurates STEAMers Students’ Mental Capacity Programme 2.0 to Empower Oluchi Chibuzor reduces pressure and stress. African Students The sports day being her Greensprings School Anthony Campus has held its 2023 Sports Day, which created an opportunity for the school to incorporate sports into its educational framework, thereby improving students’ mental well-being. According to the school, sports have a firm place in its curriculum due to their immense benefits to the overall development of students. Also, the sports day saw students representing different houses to encourage loyalty and foster friendly competition, teamwork, and cohesion as the school provided necessary first aid and ambulances for safety. Speaking at the event, the head of the school, Anthony Campus, Magdalene Okrikri, said that given the numerous benefits of sports, the school provides a wide range of opportunities for students to explore or develop their sporting abilities. She noted that this helps improve students’ academic performance and physical health, boosts self-esteem, and

first since her recent appointment, Okrikri maintained that the school focuses on the development of the total child. Hence, it embraces and invests in activities that help to achieve that. According to her, sports and outdoor activities help students develop stamina, flexibility, strength and speed, which are key components of fitness. She added that sports help to develop the spirit of sportsmanship, fair play, resilience and planning skills, among others. “Most importantly, team sports help teach students accountability, dedication, leadership, and problem-solving, amongst other skills. Players also learn to show fairness, respect and generosity towards teammates as well as contesting teams,” stated Okrikri. At the end of the sporting events, Moremi, Amina, Jaja, Azikiwe, Balewa and Enahoro Houses emerged first, second, third, fourth, fifth and sixth, respectively, in the watchful eyes of the Nigeria Association of Athletics Technical Officials (NATO).

Funmi Ogundare

Sahara Group Foundation has inaugurated the second edition of its Science, Technology, Engineering, Arts and Maths (STEAM) educational initiative, themed ‘Sahara STEAMers Programme’, designed to inspire, equip and empower young African students with the practical knowledge, skills and innovative mindset required to proffer sustainable solutions to the communal and societal problems affecting Africa. The Sahara STEAMers programme, launched in Nigeria, Kenya, Uganda and Tanzania, is in partnership with STEMCafe, a non-linear learning centre, to create an opportunity for young people to have access to worldclass maker labs, participate in a deep dive learning experience and get immersed in a practical classroom that would inspire them to tackle prevalent challenges within their communities. The programme participants will engage in a series of practical workshops, vision boarding exercises and mentoring sessions involving STEMCafe trainers and Sahara Foundation staff

base. Many Nigerian children who have travelled out to seek higher education have not found British learning systems strange. The availability of these British-tailored curriculum books also strengthens us as Nigerians to improve and appreciate the high quality of our indigenous Nigerian national curriculum also, which can stand any national curriculum globally. Worthy of note is the fact that Nigerian students compete favourably with other students when they travel abroad and even set new records in foreign schools.

volunteers. Speaking during the programme, the director of Sustainability and Governance, Sahara Group, Ejiro Gray, noted that the initiative aligns with Sahara Group’s commitment to promoting sustainable development in Africa by helping to raise a new generation of social innovators capable of accelerating Africa’s development. ‘’At Sahara Foundation, we believe in the potential that Africa’s young generation has in shaping the continent’s development,” said Gray. “Through STEAMers, we can help them tap into that potential because they possess the ideas, creativity and great energy to generate widespread positive social change in Africa’.” Addressing the students, the founder of STEMCafe, Bosun Tijani, stated, “This partnership has given us the opportunity to expose more young secondary school students across the continent to STEAM education and its application towards solving real-life problems, thus, helping us to raise a new generation of changemakers across Africa.”

VC Lauds ICA for Establishing Nigeria’s Chapter in UNIPORT Blessing Ibunge in Port Harcourt

The Vice-Chancellor of the University of Port Harcourt (Uniport), Prof Owunari Georgewill, has commended the leadership of the International Communication Association (ICA) for the inauguration of the Nigeria chapter of the group in the institution. Georgewill, who made the commendation in his remarks at the inauguration held in Uniport said the establishment of ICA in Nigeria was apt in light of the rapidly changing world where global interconnectedness and technological advancements have reshaped the landscape of higher education. He said ICA would bolster the responsibility of the University to prepare its students for “this ever-changing world” by providing them with the knowledge, skills and experiences they need to succeed both as individuals and professionals. Georgewill thanked the ICA for the interest and choice of the University as the host for the ICA Regional Hub, which according to him, “reflected the University of Port Harcourt culture of excellence in character and learning.” He said the programme had

motivated the institution continued commitment to creating a vibrant and creative community where different perspectives and ideas are embraced and celebrated. ICA Nigeria chair, Ekaete George, lauded the ICA for its initiatives in Nigeria and promised to pursue its ideals for excellence in communications research and scholarship in Nigeria. Ekaete further encouraged new members to be tenacious in their quest for opportunities in ICA that will enable them to make an impact locally while staying globally oriented. She informed the participants that the chapter would regularly provide updates on programmes and activities. While inaugurating the first chapter in Africa, the ICA President, Prof Noshir Contractor, expressed joy for the organising skills of the organising team and the enthusiasm of the members of the ICA Nigeria. He said establishing regional chapters is part of the quest for the internationalization of the ICA, which debuted in 1950 as the National Society for the Study of Communication, USA.

T H I S D AY ˾ ͯͰ˜ ͰͮͰͱ

CITYSTRINGS

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Tunde Adeniji: Cinematographer Extraordinaire and All Round Good Man Pa Tunde Adeniji was until his glorious transition on March 6, 2023, the stabilising pillar that held the Adeniji family together. A cinematographer extraordinaire, he was also a chorister, lover of church music, sportsman Nonpareil in athletics and football, journalist with the magical camera, Argonauts President and Trustee, Trustee of Men’s Auxiliary Society, as well as Coordinator of the Harvest Singers, all rolled into one. Precious Ugwuzor reports that his legacy would remain an inspiration for his family, friends and associates celebrating the life he lived and the gift he was to many

eaven just gained a cinematographer and chorister that loved God and humanity selflessly. He lived to sing, dance and create indelible memories. The Arts fired his curiosity and creativity, giving expression to numerous Tunde-esque productions. There will certainly be a different tune of African praise and colourful display of exquisitely choreographed dances and celestial rhythms. The lead conductor and composer of the heavenly spectacle will be Tunde Adeniji. The angels will wonder and applaud, and the Most High will be lifted high above the heavens! It was Mr. Adegoke Adeniji, brother to the late scion of the Adeniji family, the Late Olatunde Adeniji that described the latter as a cinematographer extraordinaire. But to many others, he meant more than that and rightfully so. He was a Chorister and Lover of Church Music, Sportsman Nonpareil in athletics and football, Journalist with the Magical Camera, Argonauts President and Trustee, Trustee of Men’s Auxiliary Society and Coordinator of the Harvest Singers, all rolled into one. But he was first and foremost a family man who placed premium on those he loved and by extension, those they loved. Early Life Born on Thursday, July 29, 1937, into the family of teachers- David Oladokun and Funmilayo Adeniji, née Ejiwunmi, Tunde, as he was fondly called, started school at the St. Jude’s School, Ebute Metta under the very strict headmastership of Mr. Sofoluwe. He later moved on after five years into Ibadan Grammar School in 1951. According to Adegoke, the late Tunde had a fun-filled schooling experience among peers at home and in the community. School, home and church were integral to the total education of the child and Tunde graduated a well-rounded product of this triangular mould. "Tunde was an all-round sportsman, representing his school in football and athletics at the Aionian Games, Grier Cup and Hussey Shield Competitions. He held tight to his passion for singing in the choir of All Saints’ Church, Yaba and he was a star in the Literary and Debating Society of the school." Incursion into the Media "Upon a successful completion of the West African School Certificate, he worked in the media and media-related industry from newspaper through television and film production to advertising. "He won a Western Nigeria scholarship to study filmmaking at the London Film School and the BBC Training School, London. When he returned home, he joined the WNBS/WNTV where he cut his teeth in professional filmmaking," he disclosed. Consummate Filmmaker He added, "a complete and consummate filmmaker, he was Assistant Film Director with Ossie Davies on the set that produced the first film adaptation of Chinua Achebe’s novel “Things Fall Apart” and later “Bullfrog in the sun”. At Calpenny Films, he was also in the crew that shot Wole Soyinka’s Kongi’s Harvest. What a busy world of filmmaking! "He concluded his very busy professional career with a short stint in advertising among his friends Kola Onikoyi, Femi Williams, Tola Olujobi and Johnson Aroloye in the OBM stable with the production of highly creative advertisements that captured several high level media spaces in Nigeria for a long time!" Life After Retirement Leaving when the ovation was loudest, he said Tunde retired quietly into his home at Onike, Yaba with "his darling wife and love of many

Pa Adeniji years, Victoria Modupeola (née Coker), Director Vic-Abi Productions and his children Tejumade and Olaitan the Heavywind, with a host of friends accumulated over years for a blissful and quiet end to a busy life. "My brother Tunde still kept himself busy consulting semi-professionally while devoting time to light social engagements and church activities. He settled back in his youthful church where he started off as a chorister in the 1940s All Saints Church Yaba, closing up as Trustee of the Argonauts Society of Nigeria, Men’s Auxiliary Association, and Coordinator of the Harvest Singers, altogether ensuring a formidable merry singing troupe for a lifetime of hymn singing and choral music. "For many years, he was a member of the great Oluyole Club of Ibadan, Ikoyi Club 1938, Lagos, FF Club, Lagos, and University of Lagos Senior Staff Club, Akoka, his chosen social den for chilling with friends ancient and modern! Tributes In series of tributes that poured in on the created portal, they were unanimous in their description of the deceased - firm yet loving, jovial, kindhearted, disciplinarian, God-fearing, good cook, family man, and an all round gentleman. As opined by his cousin, Jumoke Ali Baba (née Ejiwunmi), "our faith lies in the willingness to trust God when the pieces do not fit, as well as willingness to trust when life moves along smoothly. "It is not so important to know why God permitted suffering as it is to accept the tension and anguish it has created and transform it…for us all, suffering must become creative." In another tribute titled to an “Officer and a Gentleman”, the writer said the deceased scion did not suffer fools gladly yet was "the coolest Uncle ever". He was also described as the General of the Adeniji family, "the glue that held us together. You were the main reason

why all the cousins grew up as brothers and sisters. I have many fond memories of Christmas day at Ilupeju. You cooked up a storm….which was the same way you would cook for us when we came to spend the weekend at yours. You made me believe that it was cool for Alpha Males to cook". Yet for many others, it was his devotion towards his wife, Dupe, that earned him their respect. One of the tributes captured this as "Your love and devotion towards Aunty Dupe was an inspiration and a lesson. I cannot recall ever seeing you without her and vice versa. You were always a gentleman". Kun Laa, which she revealed was the name the deceased gave her), added, "You have certainly left a huge void and big shoes to fill. We will miss you. We thank God for the blessing that you were to our family. We thank God for the full and impactful life that you lived. I trust that you have joined the Choir of Heaven singing songs of praise. Rest in perfect peace dear Uncle Tunde." Titi "A-titus, Titius" Shonubi wrote, "I will miss you, the life & light that you bring, your love for singing hymns at the top of your voice, you calling out the funny names you have for me." Niran Adeniji Snr. on his part waxed poetic about his brother with this - "Man’s first step to his grave begins the day he is born. Some in minutes, hours, gone days weeks months, others brave Many count in years, decades. Few defy the prescribed seventy. Even fewer grind on to eighty. Olatunde strode past five and eighty. To march, an inspiring legacy. To God be the glory "To God Almighty. Tons upon thumping tons of gratitude. For situating Tunde in our family. For his children and ‘children’ gratitude. The bigger family he shepherded. For the lives he touched. Lives he changed. His unfettered love and empathy. Even to his dying minutes. Eternal Gratitude." Kolawole Ejiwunmi wrote that the deceased lived a long and fulfilling life, leaving behind a legacy that will not be forgotten, adding that "Pa Olatunde Adeniji was a man of great wisdom and kindness. He had a contagious smile that could brighten up anyone’s day, and a heart full of love for this family and friends. He was a devoted husband, father, grandfather, great grandfather and friend to many. "Throughout his life, Pa Olatunde Adeniji inspired others with his unwavering strength, his unwavering faith, and his unwavering commitment to his community. He lived a life of service, always putting the needs of others before his own." "He was a role model and mentor to many, and his impact on those he touched will be felt for generations to come". Pastor Funmi Green wrote, "Mr. Tunde Adeniji was not only an amiable in-law in the Tunde Green family but a wonderful brother to me and great father to Tokunbo. He was also well-respected by my siblings. "He was God-fearing, honest and reliable. The greatness of his life we are celebrating today was built on Godly principles, good deeds and grace of God. Bros T as I used to call him, was a jolly good fellow, full of life, kindness. "You will forever be remembered for your amazing positive character embedded in the

Throughout his life, Pa Olatunde Adeniji inspired others with his unwavering strength, his unwavering faith, and his unwavering commitment to his community. He lived a life of service, always putting the needs of others before his own

word of God and His Spirit. May all you left behind be well-preserved by God’s grace." In a comprehensive tribute that encompassed their years together, his best man and best friend, Otunba Olujimi Olajide Oduba (SAN) said the deceased went to be with two of their quartet as saints in heaven- Biodun Teje Baby Tejuosho and Olus P Olumide Pereira. He further reminisced on his journey from secondary school to education abroad and then foray into journalism programs. He also briefly touched on his love for Church music, hence his patronage of the Harvest Singers. On the part of the in-laws, Captain and Mrs. Abiodun Lisk-Carew (Rtd) wrote, " We were first introduced to Pa Olatunde and his loving wife when our dear son, Architect Akintunde Lisk-Carew, embarked on his journey of love with their cherished granddaughter, Yimika Daranijo. "As their love bloomed and blossomed into marriage, we became part of an extraordinary family union, eventually welcoming their beautiful son, our beloved grandson, Josiah, into the world. "Throughout the years, we witnessed firsthand Pa Olatunde’s unwavering devotion to his faith and his family. A man who carried God in his heart and sought to please Him in all his actions, Pa Olatunde dedicated himself to lifting up his wife, children, and grandchildren, including little Josiah, in prayer. His kindness and generosity extended beyond his family, touching the lives of countless others in his community." Writing about who her grandfather was, Adeyoola Adeniji said: "I miss you. I miss our calls and banter. I miss you forcing me to speak in Yoruba. Teasing me when I said oko ofurufu when I could just say airplane, and celebrating me when I said the most basic Yoruba phrases. "You were witty, sharp, funny, and generous. Thank you for embodying what it means to care for your family, what it means to give without expecting anything in return. You showed me the love that I should expect in the way that you loved Grandma. And per our ongoing joke, when we were together, we knew how to “enjoy life.” Yimika Lisk-carew wrote, "To my Angel Grandpa, I thought about this message long and hard and to be honest, words cannot describe how much of an influence you were throughout my whole life. You were a kind, gentle, generous, incredibly funny and family orientated grandpa. "You taught me how to be patient, calm, and how be grateful to God through all things and also how a woman should be treated with the way you treated my grandma. Your character really commanded a room even if you never really spoke much. Your subtle laugh and jokes alone would light up any room. "Growing up, you were like my second father. Always there to comfort, encourage and advise me through every stage of my life. Your presence and voice would be greatly missed grandpa. You have left a very big legacy for us to fill and I promise to do my best to live up to it. "Seeing the relationship you had with my mum and how you were a very hands on dad really melted my heart. You were both very close, spoke every day and she would sing your praises daily. I am truly grateful to you for all the love and comfort you gave her which she passed onto myself and my brothers." Given the avalanche of tributes, perhaps that of his daughter Tejumade best captured his essence. From his being hands-on, to the morning calls that were as constant as the rising sun, she said her father was her hero in every sense of the word. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ ͯͰ˜ ͰͮͰͱ

CRIME

Abuja Businessman Petitions AGF, IGP, DSS over Assault, Threat to Life Precious Ugwuzor

n Abuja-based businessman, Alhaji Mubarak Musa, the Chairman, Al-Mubee Group, has petitioned the Inspector General of Police, Usman Baba, the Attorney General of the Federation, Abubakar Malami, as well as the Department of State Service over threat to his life and family. According to Musa, it was pertinent to make those petitions because one Achema Stephen Akpa had on two occasions stormed his construction site in Abuja and physically assaulted him, destroyed his properties and made threats to his life. In a series of petitions addressed to the Office of the Attorney General of the Federation and the Inspector General of Police, the complainant had alleged that the said Akpa had not just intimidated him but also went a step further to assault him physically, after which he made threats to his personal life and property. The petitions which were sighted by the paper, were filed by Mustapha Mahmud Ibrahim Chambers, for the said incident that happened on December 1, 2022 and February 4, 2023. In the petition titled: "Petition against Achema Stephen Akpa for Criminal Intimidation, Assault and Threat to my Personal Life and Property", the solicitors craved for the intervention of the AGF and the IGP. The petition read thus, "We are the Solicitors of on whom we represent and hereby write to your good office for your kind intervention. "Our client is a law-abiding citizen who is into Real Estate management here in Abuja. Our client and Mr. Achema have been good friends for awhile until this afternoon around 12.40 pm when Mr Achema stormed our client's site located at Emperor City and Almubee Estate in Wuye district of Federal Capital Territory Area of Abuja with hoodlums in their numbers. "To my greatest surprise as Achema Stephen came down from his Vehicle, he came to me directly and started chanting all sort of words and before could realize, he slapped me and started punching me with some heavy blows on my face together with his boys. "Infact, they chased those who wanted to come to my aid away. I was humiliated in front of the public mercilessly for reason I don't know. "Afterward, he returned to his vehicle and told to watch out what will happen to me within 24 hours. He then said to me "I will kill you". I immediately reported

IGP Usman Baba

to the Police at Wuye Division for swift action. "After assaulting me, Mr. Achema left with a serious warning that he will come back to finish what he has started, threatening that I should either leave Abuja now or he will wipe me out with my family entirely from the face of the earth. "Sir, I don't want to take this threat with laxity because of what my eye saw today, therefore I am pleading with the Inspector General of Police to kindly order for the arrest of Achema Stephen with his criminal gang to ascertain what is really happening and to ensure the safety of my life and that of my family." In another petition to the Commissioner of Police, FCT Command, he said Achema allegedly made a return but this time to his site in Wuye Abuja with three vehicles loaded with arm thugs and started destroying properties. The petition also read thus, "I wish to bring to your notice that as a law abiding citizen,

the above Achema Stephen Akpa has been threatening to kill me and take over my properties since last year which necessitated my petitions to the Minister of Justice/ Attorney General, Inspector General of Police, Department of State Security Service DSS dated December 1, 2022, seeking the intervention and investigation from the relevant authorities." He lamented that rather than arresting and inviting Achema for investigation, he moves around in disdain for constituted authority, "resorts to names dropping that he has all the law enforcement senior officers in his pay roll and that his senior brother is a military general. "On February 4, 2023 at about 11:40 am he went to my site in Wuye Abuja with three vehicles loaded with arm thugs and started destroying my properties, shooting into the air, attacking my private guards and workers in the site with cutlass, iron rod and sticks. " The private security guard responded and overpowered and chased away the arms thugs and fled leaving Achema Stephen Akpa before police men from Wuye Division brought the situation to normalcy. "My private security guard and other workers on the site who sustained various degrees of injuries from the attack were

rushed to hospital for medical attention. "I am using this medium to call on the commissioner of police to use his office to urgently arrest this ugly situation before it degenerate to loss of life." He further alleged that he once received a message from a man claiming to be a DSS personnel and requesting him to report in his office tomorrow morning. "The text reads thus: My name is Julius. I am directed to invite you to the DSS FCT command, Asokoro by 10 am tomorrow Friday, December 2022"." Based on the foregoing, he craved the indulgence of the IGP and DSS to swiftly intervene on the matter. Afterwards, Musa went a step further to request for armed policemen to reinforce security in his company given the existential threat facing him. In another petition to the IGP sighted by this paper, he applied for armed policemen from the Special Protection Unit ISPO Bases 7 and 20 to provide guard and escort duties to his company, AL-MUBEE Group. The said company specialises in general contract and merchandise with a good number of expatriate Indigenous staff and engineers who manage the affairs of the company. In the petition requesting for police protection, the company said since their services require that they move from one place to another while discharging our legitimate duties, "our request is necessitated by the prevailing security breach across the country and in order to ensure that our expatriates and indigenous staff as well as the Chief Executive Officer of our company are safe and able to carry out our duties without fear of attack by hoodlum". Meanwhile, in a letter of invitation by the IG Intelligence Response Team (IRT) and signed by the Commander, CP Tunji Disu, then a DCP, dated December 5, 2022, which was sighted by this paper, Achema was invited to come in for an interview. The invitation read thus, "This office is investigating a case of criminal conspiracy, breach of trust, issuance of dud cheque, obtaining by false pretence, cheating and intimidation against you. "In furtherance of investigation, you are kindly requested to interview the officer in-charge FIB-Intelligence Response Team (IRT)... in order to respond to the allegation. Kindly report to Inspector Julius Ishaya... on arrival. Your cooperation in this regard will be highly appreciated, please." However, despite the invitation, Achema did not turn up. Also, a text message sent to his to address the petition was not replied to as at press time.

Police in Anambra Arrest Six Notorious Armed Robbery Gang Precious Ugwuzor

n armed robbery gang that had been terrorising the Eziowelle Communitysnd its environs in Anambra State, was over the weekend picked up by police operatives. Known for their notoriety, their reign of terror was sqaushed after the police carried out a raid on them. The police also recovered weapons like three English pump action rifles and other dangerous weapons which they used for their operations. It was gathered that the criminals were rounded up after the state Commissioner of Police , Echeng Echeng received reports about their criminal activities in the area. According to reports, the notorious gang had for long, been using an illegal vigilante group to kidnap, rob, intimidate and harass people in the community. They were also alleged to have broken into homes of prominent individuals in the community, stolen their properties, raped female members of their families and kidnapped others who will later be

forced to part with huge sums of money as ransom. Sources said that one prominent man in the area that claims to be a Pastor also controls his own gang that have been indulging in criminal acts in Eziowelle for long with the tacit support of some leaders of the community who always claimed to have contacts with security agencies in both Anambra state and Abuja that will protect them. They reportedly made the town so hot that many indigenes both in Nigeria and abroad, ran away from their homes for fear of being kidnapped and forced to pay ransome under the guise of being a vigilante group. Some of their victims were not only abducted at midnight, but were taken to offices of some security agencies where they were tortured, harassed and intimidated into parting with huge sums of money to buy their freedom.

One of their victims was said to had been abducted from his house one midnight, last year, taken to the office of a security agency in another town where he was subjected to torture along with many others in an underground cell and later brought before the police on trumped up charges. The police, however, freed them after carrying out thorough investigation into the case. Sources said that when report of their criminal activities was received by the Commissioner of Police, Echeng Echeng, he swiftly directed the Commander of Anti cult Unit in the state, CSP Uche Noah to swing into action and round up all the criminals involved in the nefarious acts. Their operations reportedly paid off after CSP Uche stormed the town in an operation described as 'unprecedented in execution' and rounded up the suspects. This, according to sources, was after they gave the police team stiff resistance and confronted them with hot exchange of firepower that lasted for hours. It was gathered that the police team succeeded in routing them and arrested

six of their kingpins while others escaped with serious bullet wounds. Police sources said the operations will be continued until they are flushed out and their financiers rounded up to make Eziowelle a peaceful town. CP Echeng on his part gave stern directives to go ahead and arrest all those, remotely or otherwise, involved in turning Eziowelle into a hot zone no matter how highly or lowly placed and charge them to court without delay. Meanwhile, it was learned that decoy teams have penetrated the town and it's environs and more arrests will soon be carried out. Confirming the raid, the state spokesman, Tochukwu Ikenga said the operatives indeed raided Eziowellle community and arrested six suspects, who are in custody. He said the operatives also recovered three pump action guns, one Barretta pistol, ammunition and other incriminating items. "There are so many other operations going on in the state. We urge Anambrarians to sustain the tempo by giving us relevant information," he added.

WEDNESDAY, APRIL 12, 2023˾ T H I S D AY

BUSINESS/MONEYGUIDE

NAICOMGivesInsurers Deadline for Migration to IFRS 17 Finance Reporting Standard Ebere Nwoji The National Insurance Commission (NAICOM) has said that Insurance Managers would effect from June this year submit their annual reports and accounts based on Financial Reporting Standard (IFRS)17. The operators have been preparing and submitting their companies’ reports and accounts based on IFRS14 and are expected to be allowed to submit their 2022 report to NAICOM using the IFRS 14 model. NAICOM stated this at the recent meeting with Directors of various insurance firms in Lagos. NAICOM, which at the meeting discussed other vital issues affecting insurance business in the country also harped on the need for the directors and managers of various insurance firms to build public confidence through transparency in claims settlement. NAICOM Director General, Mr Sunday Thomas

said as a way of building public confidence and trust in insurance industry, the directors could advertise outstanding claims in their books so that the policyholders who have any claim would be aware to go for it. NAICOM which informed the media of the outcome of its meeting with the insurance directors through a member of Publicity and Sub Communication of the Insurers Committee, Mr Ben Ujoatuonu, gave other highlights of the decisions taken at the meeting saying it was agreed that efforts should be geared up to ensure harmonisation of claims payment processes and make it very seamless and easy to understand. On customer service and engagement, Ujoatuonu said the commission encourage the insurers to come up with initiatives that would enhance customer-operators relationship, help to endear the operators to their customers as well as boost customer retention.

He said such relationship and publicity should be deployed to the marketing of the Third Party Motor Insurance, adding that the market has been given the go ahead to publicise not only the upward review of the premium payable but also the value and benefits the policyholders stand to gain. He said the house would meet further in a smaller committee to finalise the arrangements, stating that the campaign might commence in the month of May. Ujoatuonu said the third batch of underwriters had received letter of visitation by NAICOM in its on going efforts to cover the market and ensure compliance with risk based supervision model. The commission further informed the insurers that its portal was running and that the compliance level was high but not without some challenges, adding that the Commission was working assiduously to address those challenges.

FBNQuest Promotes Financial Literacy for Sustainable Economic Growth In a bid to promote financial literacy amongst the younger generation, FBNQuest, the investment banking and asset management subsidiary of FBN Holdings Plc, recently collaborated with the United State Agency for International Development (USAID) Youth-Powered Ecosystem to Advance Urban Adolescent Health (YPE4AH) program designed to educate preteens and teenagers on how to preserve, save and grow money. In commemorating Global Money Week and as part of the organisation’s Corporate Responsibility & Sustainability (CR&S) activities, to promote financial literacy FBNQuest

employees volunteered to teach Youths from the Araromi Youth Training Hub in Gbagada, Lagos and provided insights and techniques on how they can commence their journey to financial independence. The organisation continues to show its commitment to improving and deepening the financial knowledge of Nigerian children through its support of Global Money Week. The Chief Financial Officer of FBNQuest Merchant Bank, Olamide Adeosun and other employees of the organisation through the employee volunteering initiative volunteered to train over 400 students on Financial Literacy

across Nigeria. This year’s event was themed, “Plan your money, Plant your future.” Commenting on the Partnership with USAID, Head Marketing and Corporate Communications at FBNQuest Merchant Bank, Barbara Ezeife stated that “At FBNQuest, one of our pillars as responsible corporate citizens focuses on driving financial literacy, as we believe it is pivotal to building sustainable economic growth and personal development. We remain committed to contributing to this collective goal by participating in more trainings that will enable us add value to individuals across the country.”

‘Bincom Focused on Helping Nigerians Secure UK Talent Visa’ Kayode Tokede As skilled talents from around the world are in high demand by advanced nations, Bincom Dev Center said it is focused on helping Nigerians secure UK Global Talent Visa Advanced nations such as the US and UK are in high demand for skilled talents, hence the rise of visa programmes including the Global Talent Visa, Innovator Founder visa and Startup visa route among others, to avail qualified individuals the opportunity for global impact. With the wide pool of varying tech solutions, the demand for skilled tech talents

is unmatched, compared to the demand for other skilled talents in developed societies. In a recent open day session themed ‘Understanding the UK Global Talent Visa’, Bincom Dev Center stated that it sought to bridge the information gap by providing tech talents the information they require to chart their careers on a global scale. The event was hosted by Product Manager, Mudiaga Ogboru who noted that the session will be beneficial for both experienced and early-career tech professionals who are looking for available visa routes to build a globally attractive career.

According to him, “At eMigr8, our aim is to help tech professionals and beginners understand what Global Talent is, and to access and interpret the Tech Nation visa route on; how to get recommenders, how to identify and provide the appropriate requirements, how to appraise your profile, and other key pointers to becoming globally attractive”. A coach on the eMigr8 platform and co-founder at Social Lender, Bade Adesemowo pointed out that “every forwardthinking country of the world has discovered that talent and intellectual property is the new oil.”

Visa Foundation to Support Women Entrepreneurs in Africa Visa Foundation announced that it expects to contribute $5 million in grants and impact investments in Africa that will support women’s participation in the digital economy. The Foundation investments were made in connection with United States Vice President Kamala Harris’s trip to Africa and the creation of a new Women in the Digital Economy Fund and follows Visa’s recent pledge to invest $1 billion in

Africa to advance resilient, innovative, and inclusive economies. Visa Foundation’s support would focus on increasing access to financial solutions and other services for women entrepreneurs in Sub-Saharan Africa, to drive equitable digital financial access as countries continue to digitize. The contributions will be allocated to programs that address the digital gender

divide, and support women’s full participation in the 21st century economy “Expanding access to digital financial services lies at the core of Visa’s purpose, and our company and Visa Foundation are committed to helping address gender disparity and connecting more people to the global economy,” said Aida Diarra, Senior Vice President and Head of Sub-Saharan Africa at Visa.

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).

T H I S D AY ˾WEDNESDAY, APRIL 12, 2023

MARKET NEWS

Stock Market Down N569bn on Loss In Airtel Africa Kayode Tokede Opening the week, yesterday, investors profit-taking in Airtel Africa Plc continued to dominate the Nigerian stock market as the overall capitalisation declined by N569 billion. The N569billion decline in market capitalisation yesterday makes it sixth straight session loss as investors divest to money market instruments.

The NGX All Share Index (ASI) fell by 1,041.14 basis points 1.96 per cent to close at 51,952.99 basis points. Accordingly, investors lost N569 billion in value as market capitalisation declined to N28.300 trillion. Market breadth closed negative as four stocks gained relative to 28 decliners. Airtel Africa led the losers’ chart by 10 per cent to close at N1,198.00, while Royal

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

Exchange and Consolidated Hallmark Insurance followed with a decline of 9.09 per cent each to close at 60 kobo each per share. Multiverse Mining and Exploration shed 8.75 per cent to close at N2.40, while Neimeth International Pharmaceuticals shed 8.28 per cent to close at N1.33, per share. On the other hand, Caverton Offshore Support Group

recorded the highest price gain of 8.25 per cent to close at N1.05, while Nigerian Aviation Handling Company (NAHCO) followed with a gain 3.06 per cent to close at N10.10, per share. Transnational Corporation (Transcorp) appreciated by 2.19 per cent to close at N1.40, while Sterling Financial Holdings Company gained 1.35 per cent to close at N1.50, per share. Meanwhile, the total volume

S E C U R I T I E S

T R A D E D

QUANTITY TRADED

VALUE TRADED ( N )

MAIN BOARD

of trades increased by 545.60 per cent to 1.723 billion units, valued at N4.790 billion, and exchanged in 4,286 deals. Transactions in the shares of Transcorp topped the activity chart with 1.554 billion shares valued at N2.102 billion. Zenith Bank followed with 44.457 million shares worth N1.134 billion, while United Bank for Africa (UBA) traded 20.984 million shares valued at N179.518 million.

AS O F

Fidelity Bank traded 8.395 million shares valued at N44.552 million, while Royal Exchange transacted 6.434 million shares worth N3.879 million. This week, United Capital Plc said “we expect the bearish sentiments to continue in the market, supported by the illiquidity in the financial system. Subsequently, investors may favour the fixed-income market over the equities market.

1 1 / 0 4 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˜ ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

Wednesday, April 12, 2023

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ /ŶĚĞǆ ŝƉƐ ϰ͘Ϭй dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞǆ ĚĞĐůŝŶĞĚ ϰ͘Ϭй ƚŽ

THISDAY AFRINVEST 40 INDEX

Ϯ͕ϱϱϰ͘ϳϵ ŝŶĚĞǆ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůŽīƐ ŝŶ /Zd > &

;ͲϭϬ͘ϬйͿ͕ 'd K ;ͲϬ͘ϰйͿ͕ ĂŶĚ t W K ;Ͳϯ͘ϰйͿ͘ ƵͲ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ŵƵůĂƟǀĞůǇ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϯϴ͘ϳй ŽĨ ƚŚĞ

Price Previous Current Price Change Change Price Weighting YTD Index to Change Date

Ticker

Current Price

THISDAY AFRINVEST 40

2335.91

ŝŶĚĞǆ͘

-3.98%

26.0%

133.6%

ROE

ROA

23.6%

P/E

4.7%

4.8x

P/BV

Divindend Earnings Yield Yield

0.8x

8.4%

14.7%

dŚĞ ĞĂƌƐ ,ŽůĚ ^ǁĂǇ͙ ^/ ĚŽǁŶ Ϯ͘Ϭй dŚĞ ĚŽŵĞƐƟĐ ŵĂƌŬĞƚ ĞǆƚĞŶĚĞĚ ŝƚƐ ďĞĂƌŝƐŚ ƌƵŶ ǇĞƐƚĞƌĚĂǇ͕ ĚŽǁŶ Ϯ͘Ϭй ƚŽ ϱϭ͕ϵϱϮ͘ϵϵ ƉŽŝŶƚƐ ĨŽůůŽǁͲ ŝŶŐ ůŽƐƐĞƐ ŝŶ /Zd > & ;ͲϭϬ͘ϬйͿ͕ t W K ;ͲϭϬ͘ϵйͿ͕ ĂŶĚ ^^ KZW ;ͲϮ͘ϮйͿ͘ Ɛ ƐƵĐŚ͕ ƚŚĞ zd ƌĞƚƵƌŶ ǁĞĂŬĞŶĞĚ ƚŽ ϭ͘ϰй ;ƉƌĞǀŝŽƵƐůǇ͗ ϯ͘ϰйͿ ǁŚŝůĞ ŵĂƌͲ

ŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚŝƉƉĞĚ ʬϱϳϵ͘ϲďŶ ƚŽ ʬϮϴ͘ϵƚŶ͘ DĞĂŶǁŚŝůĞ͕ ĂĐƟǀŝƚǇ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƐƵƌŐĞĚ ϱϰϱ͘ϲй ĂŶĚ ϭϰϴ͘ϯй ƚŽ ϭ͘ϳďŶ ƵŶŝƚƐ ĂŶĚ ʬϰ͘ϴďŶ͕ ƌĞƐƉĞĐƟǀĞůǇ͘ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ƉƵƌǀŝĞǁ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ ϱ ŝŶĚŝĐĞƐ ůŽƐƚ ǁŚŝůĞ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůŽƐĞƌƐ͛ ĐŚĂƌƚ͕ ƚŚĞ &ZͲ/ d ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ĨĞůů ϱ͘Ϭй ĂŶĚ ϭ͘ϴй ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ /ZͲ

d > & ;ͲϭϬ͘ϬйͿ͕ // K ;Ͳϱ͘ϬйͿ͕ ĂŶĚ ,/W> ;Ͳ ϵ͘ϭйͿ͘ ůƐŽ͕ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ ^^ KZW ;ͲϮ͘ϮйͿ͕ t W K ;ͲϭϬ͘ϴйͿ͕ ĂŶĚ E ;Ͳϭ͘ϯйͿ ĚƌĂŐŐĞĚ ƚŚĞ ĂŶŬŝŶŐ͕ /ŶĚƵƐƚƌŝĂů͕ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ

ůŽǁĞƌ ďǇ ϯϰďƉƐ͕ ϱϳďƉƐ͕ ĂŶĚ ϭϲďƉƐ͕ ĂĐĐŽƌĚŝŶŐůǇ͘ KƵƚůŽŽŬ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ

ďƌĞĂĚƚŚ͕ ǁĞĂŬĞŶĞĚ ƚŽ ͲϬ͘ϯϰǆ ĨƌŽŵ ͲϬ͘Ϭϰǆ ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ ϭϰ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ͕ Ϯϭ ĚĞĐůŝŶĞĚ

T ic k er

ǇŝĞůĚƐ͘

P ric e C hg %

C A VER T ON

1.05

8.2%

T R A N SC OR P

1553.9

2.2%

NA HCO

10.10

3.1%

Z EN IT H B A N K

44.5

0.0%

T R A N SC OR P

1.40

2.2%

UB A

21.0

0.0%

8.4

-0.2%

FB NH

11.10

0.0%

F ID ELIT YB K

R ED ST A R EX

2.77

0.0%

R OYA LEX

6.4

-9.1%

6.1

-2.2%

D UN LOP

0.20

0.0%

A C C ESSC OR P

B ER GER

7.00

0.0%

A IIC O

5.5

-5.0%

LA SA C O

5.1

-2.5%

GT C O

5.0

-0.4%

OA N D O

4.8

0.0%

D A N GC EM UN ION D IC ON

270.00

0.0%

8.95

0.0%

A F R IP R UD

6.10

0.0%

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

A IR T ELA F R I C H IP LC

P ric e 1198.00 0.60

P ric e C hg % -10.0% -9.1%

R OYA LEX

0.60

-9.1%

M ULT IVER SE

2.40

-8.7%

N EIM ET H

1.33

-8.3%

F T N C OC OA

0.25

-7.4%

C WG

0.93

-7.0%

T ic k er

Value

P ric e C hg %

T R A N SC OR P

2101.6

2.2%

Z EN IT H B A N K

1133.6

0.0%

A IR T ELA F R I

348.8

-10.0% 0.0%

UB A

179.5

124.1

-1.4%

GT C O

120.9

-0.4%

M TNN

113.0

0.0%

102.8

-0.9%

UA C N

8.00

-5.9%

J B ER GER

A IIC O

0.57

-5.0%

WA P C O

89.7

-3.4%

-5.0%

A C C ESSC OR P

53.8

-2.2%

P R EST IGE

ĨƌŝŶǀĞƐƚ tĞƐƚ ĨƌŝĐĂ >ŝŵŝƚĞĚ

Vo lum e

P ric e C hg %

T ic k er

ůǇƐƚ ŝŶ ƚŚĞ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ĂŶĚ ƌŝƐŝŶŐ ĮǆĞĚ ŝŶĐŽŵĞ

T ic k er

P ric e

ǁŚŝůĞ ϳϰ ĐůŽƐĞĚ ŇĂƚ͘ dŽĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ďĞĂƌŝƐŚ ƌƵŶ ƚŽ ďĞ ĞǆƚĞŶĚĞĚ ĚƵĞ ƚŽ ůĂĐŬ ŽĨ ƉŽƐŝƟǀĞ ĐĂƚĂͲ

T o p 10 T r a d e s b y V o l u m e

T o p 10 G a in e r s

0.38

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ĂŵŝůĂƌĞ ƐŝŵŝǇƵ ͮ ĚĂƐŝŵŝǇƵΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ

WEDNESDAY, APRIL 12, 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 06Apr-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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 12.37% AIICO Balanced Fund 3.85 3.91 13.00% 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 6.59% Anchoria Equity Fund 153.89 155.29 6.17% Anchoria Fixed Income Fund 1.25 1.25 1.50% 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 23.71 4.88% ARM Discovery Balanced Fund 540.99 557.30 3.79% ARM Ethical Fund 46.19 47.58 2.38% ARM Eurobond Fund ($) 1.14 1.14 1.46% ARM Fixed Income Fund 1.13 1.13 1.83% ARM Money Market Fund 1.00 1.00 10.42% ARM Short Term Bond Fund 1.05 1.05 1.67% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 97.2 97.2 2.21% AVA GAM Fixed Income Naira Fund 1,131.33 1,131.33 0.44% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.16 2.16 4.33% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.38 2.43 6.69% 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 2.30% 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 4.30% Women's Investment Fund 152.99 155.21 2.86% CHD Nigeria Bond Fund 102.45 102.45 12.36% CHD Nigeria Dollar Income Fund 1.00 1.00 11.00% 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 9.26% Cordros Milestone Fund 142.90 143.82 3.79% Cordros Fixed Income Fund 108.16 108.16 9.55% Cordros Halal Fixed Income Fund 104.91 104.91 6.28% Cordros Dollar Fund ($) 114.83 114.83 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 9.85% Coronation Money Market Fund 1.23 1.24 2.58% Coronation Balanced Fund 1.38 1.38 -1.80% Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1518.14 1518.14 11.95% FBN Balanced Fund 209.32 210.84 4.82% FBN Halal Fund 126.98 126.98 12.53% FBN Money Market Fund 100.00 100.00 10.75% FBN Dollar Fund 122.52 122.52 6.97% FBN Smart Beta Equity Fund 175.20 177.49 5.79% FBN Specialized Dollar Fund 106.87 106.87 9.60% 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 N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A 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 4,404.18 3,789.67 100.00

Offer Price 4,431.95 3,789.67 100.00

Yield / T-Rtn 17.02% 7.63% 11.34%

FSDH Dollar Fund 1.15 1.15 5.57% 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) N/A N/A N/A Norrenberger Money Market Fund (NMMF) N/A N/A N/A 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 131.05 134.14 4.25% 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 3,831.50 3,857.35 12.95% Stanbic IBTC Bond Fund 247.97 247.97 5.26% Stanbic IBTC Ethical Fund 1.50 1.52 19.84% Stanbic IBTC Guaranteed Investment Fund 338.13 338.13 7.98% Stanbic IBTC Iman Fund 277.80 280.57 18.81% Stanbic IBTC Money Market Fund 1.00 1.00 9.12% Stanbic IBTC Nigerian Equity Fund 12,851.76 13,003.90 17.69% Stanbic IBTC Dollar Fund (USD) 1.39 1.39 7.61% Stanbic IBTC Shariah Fixed Income Fund 123.05 123.05 5.25% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 117.78 117.78 10.72% Stanbic IBTC Absolute Fund 4,682.23 4,682.23 10.06% Stanbic IBTC Aggressive Fund 3,417.34 3,458.40 22.89% Stanbic IBTC Conservative Fund 4,391.16 4,407.35 15.34% 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 8.63% United Capital Balanced Fund 1.57 1.60 14.53% United Capital Wealth for Women Fund 1.27 1.29 9.19% United Capital Sukuk Fund 1.14 1.14 10.72% United Capital Fixed Income Fund 1.99 1.99 7.31% United Capital Eurobond Fund 127.41 127.41 6.05% United Capital Money Market Fund 1.00 1.00 9.67% 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 14.55 14.69 4.91% Zenith ESG Impact Fund 16.54 16.71 4.65% Zenith Income Fund 24.00 24.00 1.88% 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 N/A N/A N/A Vetiva Consumer Goods Exchange Traded Fund N/A N/A N/A Vetiva Grifﬁn 30 Exchange Traded Fund N/A N/A N/A Vetiva Money Market Fund N/A N/A N/A Vetiva Industrial Goods Exchange Traded Fund N/A N/A N/A Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund N/A N/A N/A REITS NAV Per Share

Yield / T-Rtn

115.40 53.52 101.31 9.95

1.31% 4.74% -12.87%

Bid Price

Offer Price

Yield / T-Rtn

16.97 137.62 109.41 17.40 16.40

17.07 139.99 111.27 17.50 16.50

9.65% 7.83% 9.41% -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.

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

CONDOLENCE VISIT TO THE OKUNBOS ON THE PASSING OF FAMILY MATRIARCH... L-R: Engr. Kingsley Ehi Okunbo; Dr. Tinyan Okunbo; Edo State Governor, Mr. Godwin Obaseki; Mr. Osahon Okunbo; Chief of Staﬀ to the Edo State Governor, Hon. Osaigbovo Iyoha, and Chairman, Edo State Taskforce on Internal Revenue, John Inegbedion, during a condolence visit to the Okunbos on the passing of the family matriarch, Mrs. Helen Osazemwinde Okunbo in Benin City, ... yesterday

World Medical Association Attacks Lawmakers over Bill Restricting Doctors to Nigeria Says it’s a blot on Green Chamber Blames insecurity, low wages, inclement environment for brain drain Emmanuel Addeh in Abuja The World Medical Association (WMA) yesterday took a swipe at Nigeria’s House of Representatives, describing the proposed law to restrict the country’s medical doctors to Nigeria for five years before they are allowed to travel abroad to practice, as a blot on the hallowed chambers. President of the group, Dr. Osahon Enabulele, who spoke on Channels Television, insisted that the bill was ill-advised, badly researched and therefore ran contrary to the constitution of Nigeria. In addition, the WMA president characterised the proposed law as not only outlandish, but totally retrogressive, stressing that the figure of Nigerian doctors resident in the country quoted by the sponsor of the bill was bogus. The Green Chambers had passed for second reading, a Medical and Dental Practitioners Act (Amendment) Bill, that seeks to make it compulsory for graduates in medical and dental fields to render services within Nigeria for five years before being granted full licence. The amendment, sponsored by Ganiyu Johnson of the All Progressives Congress (APC), Lagos is proposing that Nigerian-trained medical doctors must serve in the country for five years before they are given a full practising licence. Johnson said it was only fair for medical practitioners, who enjoyed taxpayer subsidies on their training, to give back to the society by remaining to practice in the country

for a number of years. The lawmakers said despite the shortage of medical personnel in the country, Nigeria continues to experience a mass exodus of healthcare professionals, especially doctors, pharmacists, and nurses. A 2017 survey by the Nigerian Polling Organisation (NOI Polls) in partnership with Nigeria Health Watch, revealed that about 88 per cent of medical doctors in Nigeria were seeking work opportunities abroad at the time. Last year, the Medical and Dental Consultants Association of Nigeria (MDCAN) said more than 100 of its members left the country within 24 months. Similarly, in 2018, the National Association of Resident Doctors (NARD) said at least 12 of their colleagues left Nigeria every week to practice medicine overseas. However, Enabulele, a former President of the Nigerian Medical Association (NMA), said the bill was not only watery but ill-conceived. “So I think there's also room for us to reflect and say, look, we will make use of our research abilities. Do we make use of the resources available to us so that when you come up with something within the precincts of the House of Representatives, it is serious business. “It is what I consider a blot on the House of Representatives because inasmuch as our representatives have a right to formulate bills, but the kind of bills you formulate will tell the kind of quality, character and of course, the whole essence of that

chamber,” he argued. He added: “I think this bill, seriously speaking was ill-advised, I mean, it was not well thought-out and clearly not well researched and we should not be talking about going to the public hearing because I wonder how the House of Representatives would carry its face at the end of the day.” He stressed that the data released by the group pushing for the bill was incorrect, maintaining that although the organisation notes the concern of the lawmakers , it was the wrong

way to go about it. “ Because clearly it shows that from even the statistics reeled out by the House of Representatives, they said we have have less than 10,000 doctors in Nigeria, clearly it flies in the face of reality. Where did they get their figures from? “That is not to say that we did not appreciate the passion with which they tried to push it, but obviously they were offering a cure that was even going to be worse than the aim that it sought to address,” he said. Enabulele indicated that all the

issues are already well known, pointing out that the political will to make the difference was absent. “Clearly, the issue of brain drain is well known to us. For over two decades, we have been talking about it. So I expect that all they needed to have done at the very least is to google and see all the challenges that have led to this phenomenon,” he added. He explained that African countries have failed to address the reasons their medical personnel were leaving the continent, stressing that not only

LP, PDP File Petitions to Challenge Sanwo-Olu's Electoral Victory Labour party candidate argues Sanwo-Olu not qualified to contest Adediran wants all votes cast for Lagos gov, Rhodes-Vivour declared wasted Wale Igbintade The Labour Party’s (LP) governorship candidate, Gbadebo Patrick Rhodes-Vivour has filed a petition before the Lagos Governorship Election Tribunal challenging the results of election held on March 18, 2023. Similarly, Dr. Abdul-Azeez Adediran and his party, the Peoples Democratic Party (PDP), in their petition stated that the Governor

of Lagos, Babajide Sanwo-Olu and his deputy, Obafemi Hamzat were at the time of election not qualified to contest. In his petition marked EPT/ LAG/GOV/04/2023 dated April 9, 2023, Rhodes-Vivour asked the tribunal to hold that Babajide Sanwo-Olu was not qualified to contest the election. Aside Sanwo- Olu, other respondents in the suit are the Independent National Electoral

Commission (INEC), Dr. Kadiri Obafemi Hamzat and the All Progressives Congress (APC) as first to fourth respondents. In his petition, the LP candidate stated that he was aggrieved with the outcome of the election and the return of Sanwo-Olu (2nd respondent) as the winner of the election. He stated that, "The 2nd respondent did not satisfy the mandatory requirements of the

AGILE Initiative Will Help Stamp Out Teenage Pregnancy, School Dropouts, Says Ekiti Deputy Governor Gbenga Sodeinde in Ado Ekiti The Ekiti State Deputy Governor, Mrs. Monisade Afuye has said the full implementation of the World Bank partnership programme, the Adolescent Girls Initiative for Learning and Empowerment (AGILE) would boost girl child's access to education in the state. She also said, the educational programme, codenamed 'AGILE', would help in tackling the noticeable exponential spiraling of teenage pregnancy, early marriage and school dropouts in Ekiti, regarded as cankerworms destroying the society and creating gender imbalance. Afuye, spoke, yesterday in Ado Ekiti, while presenting her goodwill message during the official launch of AGILE project and distribution

of laptop computers to students by the Ekiti State First Lady, Dr. Olayemi Oyebanji. The Deputy Governor in a statement by her Media Aide, Victor Ogunje, bemoaned that thousands of girls who drop out of schools due to poverty, saying AGILE would offer veritable opportunity for girls of poor background to climb the ladder of education without encumbrance. Afuye, stated that teenage pregnancy and early marriage were two worrisome plagues militating against the society, Ekiti inclusive, saying the adoption of AGILE would reduce the ills and promote gender balancing in the education sector. She added that the programme which include distribution of laptop computers to students, would help in catapulting e-learning concept to

doctors were involved, but almost all professions. “There are push factors pushing Nigerians away from Nigeria, not just doctors. Today, we're talking about the whole issue of insecurity that is enough to push anybody away from Nigeria. “There are people who are kidnapped. You pay ransom, they kidnap us and nobody assists you, even the government turns a blind eye to it. And when you are now recovered, how do you expect the physician to feel?

higher pedestal, for Ekiti students to compete with their counterparts in other climes. She said; "AGILE is a programme that is coming to change the face of education in Ekiti. It is regrettable that a lot of girls that are of school age are not in school due to poverty. “Many parents and guardians cannot afford to pay the school fees of their children, buy required textbooks, uniforms, footwears, school bags among other basic needs. "It is therefore heartwarming to note the intervention of the world bank to address some of these challenges through the AGILE programme. This will go a long way in complementing the free education programme of the present administration.

"Other challenges confronting our girls are the issues of teenage pregnancy, and early marriages. These are part of the reasons why girls drop out of schools. I therefore appeal to handlers of AGILE to carry out advocacy programme to create awareness of the negative effect of unwanted pregnancy among teenagers. "Our dear state is lucky to be one of the seven states and the only state in the Southwest geopolitical zone that is participating in AGILE project. I congratulate my boss, Governor Biodun Oyebanji on this achievement. This feat, no doubt, is the fruit of unrelenting efforts of our progressive governor. "I am aware that her Excellency, the wife of the governor, Dr. Olayemi Oyebanji will distribute laptop

computers to some famale students. I urge the students to utilise the laptops for studies and learning and not for home theatres or to watch films. "I am appealing to our parents to monitor and support this programme, so that it is not turned into another thing. The computers are not to be used for Internet fraud called yahoo yahoo or for other criminal practices", the deputy governor warned. The Ekiti State First Lady, Dr. Olayemi Oyebanji, said she particularly took interest in the programme being her primary constituency as an educationist, saying no education can function optimally when the primary and secondary cadres are not strengthened enough.

Constitution of the Federal Republic of Nigeria, 1999 (As Amended), the Manual for Election Officials 2023, the Regulation and Guidelines for the Conduct of Elections, 2022 as well as the terms of the Mandamus Order of the Honourable Justice P. O. Lifu of the Federal High Court of Nigeria sitting at Abuja on 8th March, 2023 directed the enforcement of the statutory stipulations and Guidelines. "The election of the 2nd respondent was invalid by reason of corrupt practices or non-compliance with the provisions of the Electoral Act 2022 and Constitution of the Federal Republic of Nigeria, 1999. The 2nd respondent was not duly elected by majority of the lawful votes cast at the election." Aside LP candidate, others who filed petitions challenging SanwoOlu victory were the PDP and its candidate, Adediran, the Allied People’s Movement (APM) and the Action People’s Party (APP). The petition filed by Adediran and his party was based on two grounds. They stated that SanwoOlu and his deputy, Obafemi Hamzat were at the time of election not qualified to contest. Adediran also stated that the governorship candidate of the Labour Party, Gbadebo RhodesVivour who was declared by the 1st respondent (INEC) as having scored the second highest number of votes was, at the time of the election also not qualified to contest. Continues online

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

EDO SECURITY COUNCIL MEETING... L-R: Controller, Correctional Service, Edo State Command, Emehinola; Commanding Oﬃcer, Nigeria Army 4 Brigade, Brigadier General Danlami Ndahi; Edo State Governor, Mr. Godwin Obaseki; his Deputy, Philip Shaibu; Edo State Commissioner of Police, Mohammed Dankwara, and Commander of Narcotics, National Drug Law Enforcement Agency (NDLEA), after the monthly Security Council meeting, at the Government House, in Benin City.... yesterday

Buhari, Atiku, Ohanaeze Mourn as Ex-Anambra Gov, Mbadinuju, Dies at 78 Deji Elumoye, Chuks Okocha in Abuja and David-Chyddy Eleke in Awka A former governor of Anambra State, Dr Chinwoke Mbadinuju, yesterday, died at the National Hospital in Abuja, at the age of 78, while surrounded by his family

members. President Muhammadu Buhari, former Vice-President Atiku Abubakar, and a foremost Southeast socio-political group the Ohanaeze Ndigbo, have sent their condolences messages to the family as they joined them in mourning.

A press statement by his son, a lawyer, Cheta Mbadinuju, who signed on behalf of the family, revealed that Mbadinuju, who was governor of Anambra State, between 1999 and 2003, died after a brief illness. The release read: "With heavy hearts but utmost gratitude to

God for a life well spent, we announce the passing of our father, grandfather, uncle, friend and associate, Dr. Chinwoke Mbadinuju, a former governor of Anambra State and elder statesman. "Odera as he was fondly called, passed peacefully at the age of

Labour Party Holds Parallel Screening for Imo, Bayelsa, Kogi Guber Aspirants Aspirants attend double screening Emameh Gabriel in Abuja Two factions of Labour Party (LP) yesterday simultaneously held parallel screening at different locations in Abuja, ahead of its April 15 gubernatorial primaries for apirants in Imo, Kogi and Bayelsa State. The exercise was conducted to screen eligible aspirants for the governorship elections in the affected states. This was just as the Bashiru Lamidi Apapa-led National Working Committee (NWC) warned that aspirants who failed to turn up for the screening would have themselves to blame at the weekend. THISDAY gathered that over 20 aspirants loyal to the Abure-led NWC were at the party's campaign office for the screening, but also later appeared before the Apapa screening committee at the party's national headquarters. As at the time of filling this report, over 13 aspirants had been screened by Apapa at the party's national headquarters with all of them expressing confidence in the process. Some of the aspirants were: Engr. Udengs Eradivi from Bayelsa State; Chief Ikechuwku Ukaegbu from Imo State; Ihechi Ike from Imo State; Sen. Nneji Achonu, from Imo state. Others were Chief Diekivie

Ihiogla from Bayelsa; Col Abu Vincent Enemona from Kogi State; Donald Daunemigha; Ari Marshel Isaac Aifia, from Kogi state; among others. Addressing journalists briefly before the screening commenced, Apapa said the total number of candidates to be screened were 24 from the three states: Imo Kogi and Bayelsa. He expressed optimism that the exercise would go seamlessly, adding that there would be a committee to address grievances, should any arise after the primaries. He explained: "Right now we have screened four gubernatorial aspirants, we have screened two from Bayelsa and two from Imo state. So far, they have all done their best and they have convinced us and the committee has screened them and they are qualified to appear for the primaries that will come up on the 16th of this month. "We are expecting 13 aspirants from Imo State and we are equally expecting nine aspirants from Bayelsa and we are also expecting two from Kogi State. They are 24 altogether. If anybody has an issue, he/she should bring his appeal by tomorrow and the committee is already waiting to attend to those that have an issue," he added. An Imo State aspirants, Ukae-

gbu, who spoke to pressmen after the exercise, said if considered as the party's candidate, he would channel efforts towards ensuring that the spate of insecurity in the state was addressed. Ukaegbu, who described himself as a teacher and a trader, also expressed optimism to emerge winner of the gubernatorial election in Imo state. He said: "Being a teacher and a trader you must know that as a teacher you must be conservative and what governance is all about is for you to be conservative so that you can take care of the people. I acquired such experience as a trader and that will help me manage money. "I am the financial stakeholder of the Labour Party in Imo State and I have been in the Labour Party for over 14 years. I am well prepared for this governorship, not those who heard of Peter Obi so they came in. “I am prepared to govern Imo State and in Imo State today I am the owner of Imo solution. I have my structures in all the 27 local governments, 305 wards and 4738 booths in Imo state. "And you cannot be talking about winning elections when you don't have a structure. So, I am not an opportunist. I have planned to govern Imo state and I am ready." While speaking on how he

would end the spate of extrajudicial killings in the state, he said: "Insecurity is a problem. But, the only way you can be able to handle insecurity is to project the private sector. By projecting the private sector, you create jobs so that the youths can be gainfully employed." Meanwhile, while the screening continued at the party's headquarters in Abuja, the Apapa-led NWC has warned aspirants to show up for the screening to avoid being disqualified at the primaries. Speaking with pressmen after the second batch of screening, the National Publicity Secretary, Abayomi Arabambi, said the party would only accept aspirants who presented themselves for screening ahead of the April 15 primaries. He said: "So far we have screened 12 aspirants, one is still under screening and we are expecting others before we closed screening today. "For us, as far as we are concerned only 12 that showed up for this screening but for the 12 that came these are the people that will go to their state and do primary and the primary, we have scheduled it for April 15. "Anybody who is not screened here at the party's national headquarters, is not qualified to contest, he said.

78 years on the morning of the 11th of April, 2023 at the National Hospital Abuja after a brief illness, surrounded by his family and loved ones. "At this trying time, we pray for God's grace and mercy upon him and those left behind to mourn him. His funeral arrangements will be announced in due course by the family." Buhari, in a release yesterday by his Media Adviser, Femi Adesina, believed that the late Mbadinuju’s legacy of bringing peace and development to the state, including ending the long years of violent conflict in Umuleri and Aguleri, during his administration as governor from 1999 to 2003, would forever remain an important part of the history of Anambra. “He will also be remembered for his vision for the people of the state and beyond on quality education and entrepreneurship, leading to the establishment of the Anambra State University, now Chukwuemeka Odumegwu Ojukwu University,” he said. Paying tribute to the dogged determination of the seasoned academic, journalist and lawyer in inspiring and empowering many young people to believe in the power of their dreams and achieve their potentials, Buhari urged family, friends, colleagues and well-wishers to reflect on the contributions of the former governor in building lives and communities. The president prayed that the memory of the departed will be a blessing and inspiration to all that mourn.

Atiku, in a statement, mourned the death of the former governor and seasoned intellectual of the Ekwueme school of politics. According to Atiku, Mbadiniju was a quiet politician of note, who saw no need for unnecessary bickering and crisis-ridden politics in Anambra State, when he lost the 2003 election. The Waziri of Adamawa noted that, “It was glaring Mbadinuju had learnt the politics of compromise from the great political leader and late former Vice President Alex Ekwueme under whom he received political tutelage.” He however, expressed his condolences to the Mbadinijus, the government and people of Anambra State on the loss of their illustrious son and father who still had much to contribute in the development of the state in particular, and Nigeria in general. He also urged the family to bear the loss with fortitude and prayed to God to grant Dr Chinwoke Mbadinuju a peaceful repose. Acting President General of Ohanaeze Ndigbo, Chief Damian Okeke Ogene, in a press statement, described the former governor as good man, saying, "Mbadinuju played his own role in the socioeconomic development of the state. "Well, death is a due everybody must pay and you don't know when. It is sad that Mbadinuju is dead, but I must say that he was a good man and he did a lot for the socio-economic development of Anambra State. We pray God to give him eternal rest and we console his family members to bear the lost with fortitude," he said.

APC Denies Adamu's Resignation Adedayo Akinwale in Abuja The National Publicity Secretary of the All Progressives Congress (APC), Felix Morka, has denied the rumour making the rounds that the National Chairman of the party, Senator Abdulahi Adamu, has resigned his position Adamu traveled out of the country last week for medical attention. But the rumour about

his alleged resignation gained traction yesterday when it circulated on the social media, especially WhatsApp. However, Morka said the rumour should be ignored because it was untrue. "Are you calling me because of the rumour?" he asked THISDAY, adding: "Ignore it, it is not true. It is just some people posting rubbish," Morka said

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

MARRIOTT HOTEL IKEJA WINS 2022 HOTEL OF THE YEAR AWARD... L-R: Chief Operating Officer/ Owner, Franchise Services Europe Middle East and Africa (EMEA), Phil Andreopoulos; Chief Lodging Officer( EMEA), Arielle Quick; President/CEO, Marriott International, Anthony Capuano; General Manager, Lagos Marriott Hotel, Ikeja, Aditya Chacko; Chairman, Marriott International, David S. Marriott; President (EMEA), Satya Anand; Chief Human Resources Officer (EMEAN), Francisca Martinez at the General’s Manager conference held in Abu Dhabi, Dubai where the Lagos Marriott Hotel Ikeja won the 2022 Hotel of the Year award…. yesterday

Wike Mocks Melaye over Kogi Governorship Ambition Stay in your lane or you’ll be tamed, ex-senator retorts Chuks Okocha in Abuja and Blessing Ibunge in Port Harcourt Governor Nyesom Wike, yesterday, mocked Senator Dino Melaye over his ambition to become the governor of Kogi State in the forthcoming governorship election in the state. But Melaye in his reply has asked Wike to either mind his business or be tamed. Wike, who spoke during a media chat in Port Harcourt, revealed that the acting National Chairman of the Peoples Democratic Party (PDP), Umar Damagum recently called him and expressed concern about attempt to manipulate the Kogi State governorship primary in favour of Melaye. The governor noted that it would be difficult to defeat an incumbent governor or president and the ruling party in a state, adding that Melaye was a joker and did not have the tenacity to win such seat in Kogi, adding that PDP was doomed to lose the election if it made Melaye its standard bearer. "Changing delegates list to favour a particular person will further cause crisis in our party. Giving PDP governorship ticket in Kogi State to Dino Melaye is like planning to fail the election, because Dino doesn’t have what it takes to become governor of Kogi State. “Tomorrow you begin to cry that you were rigged, but you’re already rigging yourself by changing the delegates list to favour someone, who cannot win election,” he said, adding that the party should give the governorship ticket to the most qualified and not ruin their chance of victory in name of compensation. On the ongoing plans by the

opposition parties to produce the leadership of the 10th National Assembly, Wike declared that the lawmakers from the state would not be part of such disruptive scheme. He disclosed that though he was not a member of APC, prominent members of the party interested in the office of the Senate President and Speaker of the House of

Representatives have reached out to him to indicate their interest. However, responding to Wike in a statement personally signed and titled: "Wike and the effluent from an unsound mind", Melaye said, "Wike, stay on your lane. I am Daniel Dino Melaye. My specialty is to tame lions, whether they be white or black, dwelling in rocks or floating on Rivers."

Describing Wike as an unstable mind that has the misfortune to govern Rivers state, Melaye said the "simultaneous appearance of Nyesom Wike on some national television in Nigeria earlier today is a sad reminder of the misfortune that the people of Rivers State have suffered in having an unstable mind and a prodigal head as the Governor of the State for the past

The 23 Armoured Brigade, yesterday, arrested 24 suspects including a Kidnap Kingpin named Salihu Ibrahim, who was Found in possession of a submachine gun with five rounds of 9mm ammunition and a baretta pistol. The brigade commander, Brigadier General Mohammed Jibrin Gambo, made the disclosure in a press briefing at the bridge headquarters in Yola Adamawa State He further explained that the suspected kingpin has been on the force watchlist for the past three years, adding that the suspect has

interloper, who probably out of schizophrenic impulse engage in pitiable melodrama whenever he steps away from the intoxication of his bottle companions. "He has suddenly become the self-appointed public office regulator, who could determine what would happen in states not in any way contiguous to his colonised State,” Melaye stated.

Kogi Assembly Sets Aside Kabba/Bunu VC's Suspension Ibrahim Oyewale in Lokoja Kogi State House of Assembly has set aside the suspension of the Vice Chairman of Kabba/Bunu Local Government Area, Hon Bimpe Alfred who was suspended by the Chairman of the council, Hon Moses Tolorunleke. The Speaker of the State Assembly, Matthew Kolawolwe who made this known during plenary, directed that Alfred should resume her duties. Kolawole directed that after contributions of legislative members urged the Vice Chairman to appear before the House Investigative Committee and if found guilty of the alleged offences, she would go in for it. Also speaking, the representative of Igalamela/Odolu State constituency, Atabor Cosmas Ilemona said Local Government Chairmen has no power to suspend or sack the Vice Chairmen ,just the same way the President and Governor's cannot suspend or sack their deputies. "If there is any issue , they should approach the House that has the powers of impeachment," Atabor added.

He added, "He should be told what the law says and instructed properly. The House should discountenance with his suspension order" Also contributing, the Deputy Speaker, Rt Hon Alfa Momoh Rabiu, said the action of Moses Tolorunleke, was constitutionally

wrong and that he was scheduled to have interface with the House Investigation Committee. Similarly, candidate of All Progressives Congress for Ogori/ Magongo State Constituency, Major Olafimihan Akerejola, has partitioned the House, requesting for the suspension of councilors who are

been identified as the mastermind behind most of the kidnappings in the area and even in southern parts of the country "Intelligence personnel have been monitoring his movement for the past one month and he was in Port Harcourt for about three weeks before his arrival at Naude on April 7th and subsequent arrest on 10th April 2023." "Following his arrest, a Nigeria Army-led joint operation for recovery of arms was launched along Naude Hills, where he described as the place where his cattle, his brother and other accomplices were camped. "Although most of the suspects

APC members in his constituency. According to his petition, Eunice Ezekiel, Bernard Aturu, David Ejika, Sunday Ajaguna and Atiku Abubakar engaged in anti-party activities during the state assembly election of March 18th. Olafimihan urged the House to take a cursory look at the actions

of the councilors, noting that failure to punish them might make others act the same way. The House invited the councilors for investigation. Also, Kabba/ Bunu legislative council petitioned the State Security Adviser, Rtd Comm Jerry Omodara for anti-party activities.

LAWMAKERS SUMMON FINANCE MINISTER, AGF, OTHERS OVER WHISTLEBLOWER POLICY, $2.4BN ILLEGAL CRUDE OIL SALE The Speaker who was represented by Hon. Ibrahim Isiaka, further lamented that in the light of dwindling revenue accruing to Nigeria from crude oil sales, it was quite alarming to learn about whistleblower allegations that over $2.4 billion in possible revenue by the country was lost from the sale of 48 million barrels of Nigeria’s crude oil cargoes in China. He said though these were unverified allegations, the however was on the House of Representatives to carry out a thorough investigation to ascertain the veracity. While promising whistle-blowers that volunteered information to the parliament of maximum legislative protection and confidentiality, Gbaja-

biamila said the recommendation of the Committee after its investigation would no doubt, guide the House in making an informed decision in considering the Whistle-Blower Bill currently before it. Addressing the lawmakers earlier, Federal Commissioner in charge of monitoring and inspection, Code of Conduct Bureau, Agbonayimma Ehiozumu lamented that Nigeria was bleeding as cabals had derailed the wheels of progress of the country. Ehiozumu who was a member of the 8th National Assembly narrated how a committee was set up to look into this same matter in the past Assembly with the outcome of the investigation submitted to the Committee of the Whole back then.

Army Arrests Kidnap Kingpin On Watchlist in Adamawa Daji Sani in Yola

8 years. "In the end, all that the indecorous Wike achieved was to buy precious media time to vent his spleen on fellow Nigerians, who are more qualified than him to be governors in Nigeria "Hallucinated by the patrimonial resources of the good, but impoverished people of Rivers State, Wike has turned himself into a depraved

deserted the camp on arrival of the troops, the aforementioned weapons were recovered with suspected rustled cattle and sheep that have been handed over to the Miyetti Allah under the supervision of the joint forces," he said The commander said this briefing was necessary because of the special incidents recorded during several internal security operations carried out by the bridge and also to provide an avenue for interaction between the brigade and the general populace. He said the brigade has also intensified efforts to ensure the activities of miscreants were reduced to the barest minimum

within Adamawa Gambo said in the past eight months, the brigade had recorded successes in taming the tide of criminal attacks on communities and individuals within its operational areas, using both Kinetic and nonkinetic operational approaches to achieve successes which led to the arrest of 22 syndicates of kidnappers , some with AK-47 riffles , others with locally made weapons "While some good numbers of them were with cash amount ranging to millions of naira, which they collected from their victims as ransom, these items have been handed over for investigation and subsequent prosecution," he said.

While frowning at the fact that the matter hasn't been resolved after so many years, he fingered some agencies such as the Nigerian Petroleum Development Company (NPDC) to be part of the problem. He urged the lawmakers to move the litigation to the United States of America, claiming that there are people here blocking the process, such as International Oil Companies (IOCs) who allegedly worked with Nigerian lawyers to defraud Nigerians. He said, "Nigerian Petroleum Development Company (NPDC), they were owing the federal government, when we investigated this matter. The indebtedness of DPRO as at 30th September 2017 by NPDC, royalty gas was over $4 billion. It will amaze you that NPDC refused to pay this money back to federation account. “By our intervention they said they have agreed to be paying $10 million every month. But the question was that where are you going to be getting the $10 million that you’re going to be paying back every month. “What happened to the four billion where did it go. As at then that was when the MD came to my office and threatened me that I should leave this matter. Where is this money now? As at 2017 they had balance of $1.7 billion yet to be paid, have they paid that money till today?" Meanwhile, earlier in the day, hundreds of George Uboh Whistleblowers’ Network, had stormed the main entrance to the National Assembly to protest against the probe. The protesters led by Ambassador Joseph Peter Umoh, carried placards

with inscriptions denouncing the setting up of the adhoc Committee by the House of Representatives when the crime according to them, is already being litigated against in the court of law . Addressing journalists, Umoh said as whistleblowers, they blew open the stolen crude oil and illegal sales in China to the parliament and Nigerians generally. According to him, the lawmakers rather than carry them along in the planned investigation, decided to do it alone, raising suspicion of vested interests. "The whistleblowers who furnished Hon Mark Gbillah the information germane to the 48 million barrels of crude oil stolen did not file any petition to the National Assembly for any investigation or hearing, neither were they called as witnesses to testify during hearing. Because Gbillah did not follow this sacrosanct due process, the purported public hearing by the ad hoc committee is a sham predicated on unilateral action driven by greed. "Therefore we the whistleblowers at this protest, authoritatively assert that the National Assembly should does not hear or deliberate on any matter in court. Two different competent courts of jurisdictions, are already handling the case filed against the Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari to account for proceeds from the stolen crude oil which are roughly estimated to be $2.4billion at $50 per barrel and $4.8billion at $100per barrel," he said.

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

INSPECTING COMPUTER-BASED EXERCISE... Executive Secretary, Edo State Primary Healthcare Development Agency, Omosigho Izedonmwen (left) visits candidates during the computer-based test exercise held at the Edo State Secretariat Complex, in Benin City, … yesterday

Amaechi Remains APC Leader in Rivers, Says Party Chief Blessing Ibunge in Port Harcourt A chieftain of the the All Progressives Congress (APC), Chukwuemeka Eze, has insisted that the immediate former Minister of Transportation, Chibuike Rotimi Amaechi, remained the leader of the party in Rivers state. Eze dismissed the insinuations that the Rivers APC has been divided into factions. In a statement by the APC chieftain, yesterday, he dismissed the claim by the Coordinator, South-South, of Bola Tinubu Vanguard in the February 25, presidential election, Tony Okocha, that he was now the leader of the party in Rivers. The party chief said Okocha's claim as leader of the Rivers APC "is a needless, undeserving noise

so abhorrent to every right-minded member of society and stirs positive antagonism." He advised the media "to be more concerned about the troubling situation in the country especially Rivers, where the glaring usurpation of democracy by a desperado, who wants to remain in power by proxy against the wishes of the people by securing the illegal support of the police force and the electoral umpire through bribery to commit electoral fraud, is grossly underreported. "It is unheard of that a party, which claimed to have won the guber poll by popular votes will go to the extent of using the police and thugs to kidnap and arrest Lawyers, illegally detain their briefs prepared to establish the

case of the APC at the tribunal and hold protests to block the APC from accessing, inspecting and obtaining the Certified True Copies of materials used to conduct the election over which they claimed victory".

The APC chieftain said, "That alone is enough fact to establish fraud perpetrated by Governor Wike in connivance with INEC and the police." On the allegation of anti-party activities against Amaechi, Eze

said such report only existed in the figment of the imagination of the schemers, who were only working to curry relevance in Tinubu’s camp and nothing more. He therefore, called on the public to discountenance any

report of wrongdoing against Amaechi by those he described as 'rabble-rousers' and attention seekers, who have no stake in the Rivers APC, stressing that the party remained intact under the former Minister.

Obaseki Condoles Okunbo Family over Passing of Matriarch The Edo State Governor, Mr. Godwin Obaseki, has condoled with the family of late Captain Hosa Okunbo over the passing of the family matriarch, Mrs. Helen Osazemwinde Okunbo. The governor, who paid a condolence visit to the residence of the family of the deceased in Benin City, encouraged members of the family to be thankful for a life well spent.

He said, “We are here to pay our condolences to the children and family of Mrs. Helen Osazemwinde Okunbo, mother of late Captain Hosa Okunbo, who passed on at the age of 85. “We thank God for her life; she was ever so pleasant, so warm, so motherly, and we thank God she lived to a ripe old age. She left very successful children behind.

She did everything she had to do in her lifetime. “We should celebrate her and celebrate her values - what she stood for and what she represented - and not be sad that she has passed on.” Obaseki added, “I am glad that, as expected, decisions have been made on her burial and we will be here to support and be with you throughout the events.”

Son of the deceased, Dr. Tinyan Okunbo, expressed appreciation for the governor’s visit, noting, “On behalf of the Okunbo family, I say thank you for coming to express your condolences to the family. We pray that God continues to bless and guide you as you continue the good work you are doing and God will make people appreciate the work you’re doing.”

INEC: NO ACT OF INFRACTION SUBSTANTIAL ENOUGH TO NULLIFY 2023 PRESIDENTIAL POLL it declared Tinubu winner of the election, having failed to score 25 per cent of votes cast in the FCT, INEC submitted that the provisions of the constitution applied to the FCT as if it were one of the states of the federation and the use of the word “AND” in section 134 (2) of the constitution indicated nothing more than that in construing two-thirds of the states of the federation in which a candidate was required to score one-quarter of the votes cast, the FCT was considered as if it were one of the states of the federation. INEC said, "The intention of the framers of the constitution is for a presidential candidate to have a national geographical spread and broad acceptability from the Nigerian electorate and not meant to bestow a veto power on the FCT or it electorate over the election of a candidate at a presidential election, who has otherwise scored one quarter of the votes cast in two-thirds of the 36 states, except in the FCT. "The 1st Respondent further states that the Federal Capital Territory, beyond being the capital of Nigeria, has no special status over and above the other 36 States of the Federation to require a candidate in the presidential election to obtain at least 25 per cent of the votes cast in the FCT before being declared winner of the presidential election. "The 1st Respondent shall also contend at the trial of this suit that the Federal Capital Territory is regarded as the thirty-seventh (37) State of the Federation and as such, a candidate needs to score 25 per cent of the valid votes cast in at least two-thirds of 37 States (24. 7% States) to be declared as winner in the presidential election. The 1st Respondent avers that the 2nd Respondent scored 25 per cent of the valid votes cast in 29 states

of the federation as stated above. "The 1st Respondent states that having scored at least one-quarter of the valid votes cast in 29 states, which is over and above the 24 2/3 states threshold required by the constitution, in addition to scoring the highest number of the lawful votes cast at the election, the 2nd Respondent was properly declared winner and returned as the president-elect of the Federal Republic of Nigeria. "The 2nd Respondent, having scored 25 per cent of the valid votes cast in the 29 states listed above, has satisfied the requirement of the constitution to be declared winner of the presidential election, thus, rendering the requirement of having 25 per cent of the valid votes cast in the Federal Capital Territory unnecessary. "The 1st Respondent pleads and shall at the trial of this petition rely on the particulars of the votes contained in all the electoral forms, including but not limited to forms EC8A, EC8B, EC8C, EC8D and, EC8E used in the conduct of the presidential election held on February 25, 2023."

Atiku Contends Presidential Petitions Put Judiciary on Trial

At a meeting with select media houses, Director of Research and Strategy of the Atiku/Okowa Presidential Campaign, Dr. Don Pedro Obaseki, said, "They (Supreme Court and Court of Appeal) must understand that the 2023 presidential election tribunal proceeding is not just the petitioner and the respondent that are on trial. It is the Nigerian judiciary that is on trial. "This is why I called my friends as well as those who are the fourth estate of the realm and those who must be the fore bearers of the conscience of this country, so that

we begin to talk and interrogate the facts and issues that surround our petition at the tribunal and not be dwarfed in the noise the APC is dishing to the public on the election. We'll demonstrate the real election result, not the ones that Mahmood Yakubu announced. "It is important that we put the Nigerian judiciary on notice that the Justices of the Supreme Court and Court of Appeal, who are the primary and final arbiters in this election imbroglio, that the onus lies upon them to look at both the spirit and letters of the law and the very marginalised feelings of every Nigerian and do what is right and correct in the public domain so as to save this country and the sanctity of our commonwealth. "I was in charge of strategy – from drafting, to curating and monitoring of the elections from all the 176,000 plus polling units across the country. I know who won, not only because the person is my principal but because the truth must be told. We can no longer continue in this brigand disregard of our people." Specifically, he said, "I will give a very simple example. In Zamfara State, in one of the LGAs, Atiku had 46,070 votes, Tinubu had 3,006 votes and they were written in black ink. And in the BVAS, the uploaded result, a blue ink was used in striking out the zero from Atiku’s 46,070 and arrived at 4,607 votes while using the same blue biro to add zero to Tinubu’s 3,006 to now arrive at 30,006. Immediately, the election result in that very area was upturned by men of darkness, by men who want to see this nation that is already sitting on a keg of gun powder implode. What do you now have? A man who scored 46, 070 votes is suddenly deleted to read 4, 607, while the

party that scored 3,006, a zero is added and the election result in that place is turned to 32, 060. That is the humongous monumental, devilish act by anybody. “Nigeria is becoming the laughing stock of all comity of nations simply because a simple civic duty earnestly engaged in by millions of Nigerians had been stolen by a few, who are bent on foisting on our nation a rulership, a dictatorship via the pretences of the ballot box. This must be heard." Obaseki explained further, "If, for example, we have a situation of this nature, what would a recognised electoral body do? Like they did in certain instances only where it didn’t favour their preferred candidacies, you will stop the elections as it is written in the Electoral Act and prescribed in the constitution of our country.”

APC Defends Tinubu’s Victory, Wants Opposition’s Petitions Dismissed

APC, while defending Tinubu’s victory at the poll, claimed the presidential election was conducted in substantial compliance with the Electoral Act, 2022. APC and INEC, in their separate replies, asked the court to deny Peter Obi and Labour Party (LP) all the reliefs sought on the grounds that their petition was "devoid of any merit and also founded on frivolity." Besides its reply brief to the petition, APC also filed a Notice of Preliminary Objection to the hearing of the petition on the grounds that the petition was incompetent and lacking merit. It added also that the tribunal lacked necessary jurisdiction to entertain the petition in the first place. Among others, APC claimed that

LP lacked the necessary locus standi to initiate the suit against the outcome of the presidential election on the grounds that it did "not present a valid candidate for that election." APC, in the reply filed by Mr Thomas Ojo from the chambers of Lateef Fagbemi, SAN, claimed that Obi was still a member of the PDP as at the time he was sponsored by LP. The ruling party claimed, "The 1st Petitioner herein resigned his membership of the PDP on May 26, 2022 and joined the Labour Party the following day being May 27, 2022. The 2nd Petitioner herein conducted its Presidential Primary on May 30, 2022, which produced the 1st Petitioner as the candidate it intended to sponsor in the general election. "By section 77(3) of the Electoral Act, 2022, the 2nd Petitioner is mandated to have submitted its comprehensive register of members to the Ist Respondent 30 days before its presidential primary. That is to say the said register of members must have been submitted to the 1st Respondent on or before 30th April, 2022. "The 1st Petitioner as at April 30, 2022 was still a member of the PDP and his name was not and could not have been in the register of members submitted by the 2nd Petitioner to 1st Respondent." In another ground, APC argued that the LP and Obi petition was defective because they failed to include Atiku, who came second in the presidential election with 6,984,520 votes as against the petitioners who came third with 6,101,533 votes. APC submitted, "For the tribunal to grant prayer (iii) of the petitioners, the tribunal must have set aside the scores and election of Alhaji Atiku Abubakar. Ahaji Atiku Abubakar

must be heard before his votes can be discountenanced by the tribunal. "The petition is incompetent for failure to join as a party to the petition the presidential candidate of the Peoples Democratic Party (PDP) Atiku Abubakar the 1st runner up and his political party Peoples Democratic Party (PDP) as a Respondent whose right would be affected by the reliefs sought in the petition." On the alleged unlawful nomination of the vice presidential candidate, Senator Kashim Shettima and allegations of conviction involving the president-elect, APC argued both issues were outside the jurisdiction of the election petition tribunal. APC claimed that complaints bordering on disqualification, nomination and sponsorship of candidates for an election were pre-election matters that could not be raised or canvased before an election tribunal as purportedly done herein by the petitioners. In addition, the APC claimed that the issue had become statute barred having not been filed within the time provided by law. On the issue of alleged conviction and forfeiture involving the president-elect, APC said, "Facts pleaded in paragraphs 28-32 of the petition alleging conviction of the 2nd respondent in 1993 is not pleadable as fact to support grounds of disqualification of the 2nd respondent. "The issue of forfeiture raised against the 2 Respondent in their petition are already pending before the Federal High Court in suit number FHC/ ABJ/CS/206/2023 between PEOPLES DEMOCRATIC PARTY V CODE of CONDUCT TRIBUNAL & 6 ORS and raising same before this court is an abuse of court process.”

WEDNESDAY APRIL 12, 2023 • T H I S D AY

WEDNESDAY APRIL 12, 2023 ˾ T H I S D AY

NEWS

RECOGNISING WOMEN IN MARITIME AND ENERGY SECTORS…

L-R: General Manager, Nigeria Ports Authority, Funmilayo Loremikan; Director, Governance and Sustainability, Sahara Group, Ejiro Gray; Head, Strategic Procurement and Supply Chain Management, Oando Energy Resources, Modupe Oyeneyin; Director-General, Nigeria Chamber of Shipping, Mrs. Vivian Azubuike-Chibuike; Business Development Manager, David Almond Consulting, Mrs. Abiola Soremekun, and Deputy Director, Nigerian Maritime Administration and Safety Agency, Mrs. Chizoba Anyika, at the Women in Maritime and Energy Awards held in Lagos…recently

Troops Kill Two Notorious Bandits, Recover Arms in Kaduna John Shiklam in Kaduna Troops of the Joint Task Force Operation Whirl Punch have killed two notorious bandits terrorising Sabon Birni, Igabi Local Government Area of Kaduna state. Acting Deputy Director, Army Public Relations, 1 Division Nigerian Army, Kaduna, Lt. Col. Musa Yahaya, made this known in a statement yesterday. He said the killing of the two bandits leaders followed “a tip-off from a human intelligence source.”

He added that the bandits were ambushed and successfully neutralised while their arms, ammunition and other equipment were recovered. Yahaya said: “Intelligence source revealed that the bandits leader, Danwasa intended to send his errand boy Yunusa to purchase some arms and ammunition in Kaduna town.” He said the errand boy was subsequently trailed and picked up by plain cloth soldiers and later used to lure two of the bandit’s kingpins to a selected ammunition collection point.

APC Chieftain Assassinated in Delta

Sylvester Idowu in Warri

Gunmen suspected to be hired assassins have killed a chieftain of the All Progressives Congress (APC), Chief Sylvester Efeurhobo in Delta State. The APC stalwart was reportedly murdered between 8.00 pm and 9.00 pm last Sunday at his country home in Agbarho, Ughelli North Local Government Area of the State. It was gathered that the APC faithful was shot by his assailants in his residence at Agbarho shortly after he returned from an outing. Community sources said that the deceased was the Chairman of a pro-APC Support Group, known as the Achievers Group, in Agbarho. It was learnt that the deceased

, shortly after he returned home from an outing received a “friendly” call which made him to step out of his compound only to be shot severally by yet to be identified gunmen. The source disclosed that the shots did not penetrate the body of the deceased which made his assailants to drag him to a nearby bush where he was axed severally leading to his death. Delta State Police Public Relations Officer (PPRO), Edafe Bright, a Deputy Superintendent of Police (DSP), confirmed the incident, noting that three suspects have been apprehended in connection with the gruesome murder. “Confirmed, we are still investigating, so far three suspect have been arrested,” he said.

“Upon their arrival, troops who had laid an ambush engaged the criminals with superior firepower and neutralised the two bandits leaders”, the army spokesman added.

Yahaya said items recovered from the criminals include one motorcycle, two AK 47 rifles, six AK 47 magazines, 250 rounds of 7.62 mm special, one power bank, two charm vests and the sum of N200,000.

He said the General Officer Commanding (GOC), 1 Division Nigerian Army, who is also the Force Commander, Joint Task Force Operation Whirl Punch, Major. Gen. Taoreed Lagbaja, commended

the troops for their professional conduct and perfect execution of the task. He said Lagbaja further charged the troops to go after all bandits and show them no mercy.

Chief of Staff Position Tears Tinubu’s Camp Apart

Adedayo Akinwale in Abuja

An ongoing cold war is currently tearing the political camp of the president-elect, Asiwaju Bola Tinubu apart following media reports he has penciled down the Speaker of the House of Representatives, Hon. Femi Gbajabiamila as his Chief of Staff (COS) ahead of his takeover on May 29.

However, Gbajabiamila has said that he knew nothing about the reports of him lobbying to be appointed as COS. But the cold war between the camp of Gbajabiamila and the loyalists of the lawmaker representing Ikeja Federal Constituency in the House and the Secretary of Presidential Campaign Council (PCC) of the ruling All Progressives Congress

(APC), Hon. James Faleke, has continued unabated. While loyalists of Faleke claimed that Gbajabiamila was nowhere to be found when people like Faleke were busy working for the emergence of Tinubu as the president, but he was now trying to position himself as the COS. On the other hand, those loyal to Gbajabiamila were of the views

that the same people that planted the story are the ones accusing Gbajabiamila of planting the story. A source close to Faleke said some party stakeholders were angry when they saw the story in the media that Gbajabiamila was already functioning as COS. The source said: “Gbajabiamila went to the media, I think that made a lot of people angry. He planted the story.“

Ekiti Varsity Students Protest Late Registration Fee, Others Gbenga Sodeinde in Ado Ekiti The students of Ekiti State University (EKSU) have been protesting against the late registration fee allegedly imposed on them by the school authorities. The students shut down University Road in Ado Ekiti for more than three hours in protest of what they described

as extortion by the school management. When THISDAY visited the scene of the protest, the visibly angry students were seen caring placards bearing different inscriptions such as: ‘Late registration should be for a student whose school fees is 20k, 30k not for a student whose school is 200k’, among others.

The school gate was shut down preventing both lecturers and students gaining entrance into the school premises. Specifically, the students in their hundreds armed with various placards says they are opposing the idea of N5,000 payment for late registration, as they decried the huge amount required for school fee, internet

services, and other payments they said they were compelled to pay. Findings by THISDAY have it that the students were totally against the N5,000 late registration fee allegedly imposed on them as they described it as “unbearable in face of a hike in their school fees.”

Bauchi WarnsTheClerics against Inciting Utterances government also directed state security council meeting based clerics, maintained that Segun Awofadeji in Bauchi Bauchi State Government has threatened to take decisive action against any cleric using inciting statements in the name of religious preaching, warning that such action could ignite crisis among the people of various Faiths.

security agents to deal with hoodlums otherwise called Sara Suka groups and individuals terrorising innocent persons especially in the state capital. The Secretary to the State Government (SSG), Barrister Ibrahim Kashim, who gave the warning shortly after the

in Bauchi yesterday, said: “As far as we are concerned, it is not the issue of ‘Akida’ or politics, but is about inciting statements that are bound to create divisions between our people.” Kashim, who expressed displeasure over the mode of preaching by some Bauchi -

government would not allow such actions to cause conflict and disunity among different sects. According to him, religion is a sensitive issue hence the move by government to ensure preachers are respecting the views of one another to guarantee peaceful coexistence.

(INEC) in Port Harcourt. In a statement by the spokesperson of the APC in the state, Darlington Nwauju, the party said that the comments by the state governor on a media chat allegedly confirmed that PDP, police and INEC collaborated in attempt to manipulate the results of March 18, 2023 elections in the

state. Nwauju alleged that the PDP allegedly connived with the police to thwart the will of Rivers people, adding that the protesters are at the INEC office to aid the manipulation of results. The APC spokesperson stated: “By virtue of his live media chat today(yesterday), Gov Wike

confirmed that he, INEC and the Nigeria Police arrested the three APC lawyers ostensibly to obtain our party’s evidences of the electoral heist that took place in Rivers State through coercion. “By his own admittance, he connived with the operatives of the Nigeria Police to steal APC documents.

Tekedia Capital Facilitates Funding for Startups in Africa Rivers APC Tackles Wike over Defence of PDP Protest at INEC Office

United States (US)-based venture capital firm, Tekedia Capital, has launched a new syndicate funding cycle to attract individuals and organisations to co-invest in early-stage tech startups across the world. This is to advance the spirit of entrepreneurial capitalism through the creation of viable funding opportunities to deepen economic growth and advance local communities across Africa. The Tekedia Capital Syndicate investment cycle, which will end on May 8, 2023, seeks to pool funds from investing entities to upscale the business activities of promising African-based tech firms irrespective of the sectors they operate in. This is in a bid to leverage the firm’s extensive grassroots connections to enhance the process of building tech unicorns out of Africa. Speaking on the launch of the

new funding cycle, the Chairman of Tekedia Capital, Prof. Ndubuisi Ekekwe, noted that there was a dire need to support early-stage tech companies across the African continent. “Economic projections about Africa indicate that the continent is on the path to economic ascension due to the innovation and ingenuity of young people. This is made evident as recent developments reveal that the African continent is experiencing a Cambrian moment where tech-anchored startups are rapidly re-wiring markets, leading to transformations in industrial sectors. It is against this backdrop that we at Tekedia Capital support these companies, and are inviting interested persons, organisations, and governments to co-invest through our syndicate funds in these tech companies.”

Blessing Ibunge in PortHarcourt

The All Progressives Congress (APC) in Rivers State has criticised Governor Nyesom Wike over his defensive response on the ongoing protest by supporters of the Peoples Democratic Party (PDP) at the office of the Independent National Electoral Commission

Group Faults Garba over Claims Tinubu Got 8,000 Votes in Abia SundayAborisadeinAbuja

The national support group of the Senate Chief Whip, Orji Kalu has debunked claims by a former member of the House of Representatives, Adamu Garba that the President-elect, Asiwaju Bola Tinubu, got only 8,000 votes from Abia State. The political pressure group

known as “OUK Grassroots Movement” in a statement in Abuja, described Garba’s statement as not only erroneous but ignorant. It clarified that the former Abia governor and Senate President hopeful contributed over 300,000 votes to the victory of the Tinubu. The group’s national leader Alhaji Murtala Mohammed in a statement yesterday, said apart

from his error ridden comment, Garba has no moral standing to advise the party leadership as he had recently dumped the party over selfish reasons only to return a month after. Explaining further, Murtala emphasised that Orji Kalu gave the president-elect over 300,000 votes rallied by the Movement from across Nigeria during the presidential

election held on February 25. 2023 Murtala carpeted the ex House of Reps member’s comment on Channels TV programme Politics Today where he said that members of the All Progressives Congress (APC) in the South-east did not do enough to give them the right to demand that the office of the Senate President should come to the South-east.

WEDNESDAY APRIL 12, 2023 ˾ T H I S D AY

NEWSXTRA

CAMPAIGN AGAINST ALCOHOL ABUSE…

L-R: Deputy Director, Public Affairs, National Agency for Food and Drug Administration and Control (NAFDAC) , Mrs. Christiana Obiazikwor; Executive Secretary, Distillers and Blenders Association of Nigeria (DIBAN),Mr. John Ichue; representative of the Minister of Health, Mrs Olubunmi Aribeana; Advocacy Lead, DIBAN, Mobolaji Alalade, during the launch of the third phase of campaign against underage drinking and excessive consumption of alcohol in Lagos... recently ETOPUKUTT

Benue Government Suspends Operation of State -owned Livestock Guards George Okoh inMakurdi

Following renewed attacks by suspected herders in many communities in Benue State, the state government has announced the immediate suspension of operations of the Livestock Guards. The Livestock Guards was established by the government to ensure the compliance of the State Anti-open Grazing Law. Governor Samuel Ortom who

disclosed while briefing newsmen after the State Security Council meeting yesterday said the suspension is for two weeks, to allow for reduction in the high influx of cattle into the State. He said it is part of measure to ensure that all those who came in with cattle leave so that the people can have peace. The Council frowned at the rustling of cattle by indigenes and urge security agencies to

‘Adeleke Pleased with Crackdown on Criminals in Osun’

Yinka KolawoleinOsogbo

Osun State Governor, Ademola Adeleke, has commended security agencies for their proactive actions to tame recent wave of insecurity in the state, even as he lauded the police for the arrest and prosecution of suspects in recent crimes. Speaking on behalf of the governor, the Secretary to the State Government (SSG), Hon Teslim Igbalaye, said the state governor is happy with the arrest of kidnapping gangs, the tracking and apprehension of some criminals in Oyo State, and the nabbing of some cultists involved in recent criminal acts. According to him, “The reports from the field showed that the police and other security agencies have been up and doing in combating crimes. The government

is particularly happy that suspects are being arrested and arraigned. This will strengthen the faith of the citizenry in the capacity of the state to protect them. “It is also pleasing to report that security operatives are hunting down criminals who engage in hitand-run operations with their base outside Osun State. Our security personnel are hunting such evil men across Ekiti, Oyo and other adjacent states. We commend the gallantry of the police and other security services in the state. “Governor Adeleke has further directed the security agencies to sustain the ongoing onslaught against men of the underworld. In pursuance of the directive of the governor, we are interfacing with the service commanders with a view to getting further immediate results.”

Mbah: I Performed NYSC Duties and Was Discharged Honourably Governor-elect of Enugu State, Peter Mbah, has said he performed his one year compulsory service and was honourably discharged by the National Youth Service Corps (NYSC). Mbah said though he broke in his service due to his Bar studies, he later completed it and was accordingly issued with a discharge certificate. He said: “I did my NYSC. I served and was honourably discharged. I have my discharge certificate. My place of primary assignment was Udeh and Co. I think the confusion was because I had a break. As an overseas graduate, when we were done with our Bar Part I, the next thing was for us to do Bar Part II, but we were just completing Bar Part 1 when the Bar Final students started. So,

we were encouraged by the then deputy director general (DDG) of Nigerian Law School, Kole Abayomi, who was the DDG of Lagos campus where I did my Bar Part I, to go and do our youth service. So, we went to start our youth service. “Eight months into the youth service, we were told to come back to do our Bar Final. We started the Bar Final and the honourable thing for me to do was to basically write to the NYSC to say, ‘Please, I am going to do my Bar Final and I want to break my service year’. The letter is still documented. So, I went and completed my Bar Final and went back and completed the remaining months of my service. I still have the letter of NYSC remobilising me to go and finish from where I stopped.

apprehend any culprit. It also, observed and condemned the act of connivance with youths, traditional rulers and stakeholders to rustle cattle and called on security agencies

to apprehend such persons no matter how highly placed. “We commend security agencies for being proactive. We urge our Volunteer Guards to be of good behavior. We condemn any unholy

alliance of some of our youths to rustle cattle of herdsmen. “We condemn acts of some traditional rulers and stakeholders who are found wanting and charge security agencies to apprehend

anyone involved in this act. No one should be harassed for doing their business. All those conniving with Fulani herdsmen to engage in unholy act should be brought to book.

Election Observers Task Imo Tribunal on Fairness, Justice Coalition of Independent National Electoral Commission(INEC)accredited domestic election observers, yesterday tasked the Election Petition Tribunal for Imo on fairness and justice during hearings. The coalition’s Team Leader, Victor Kalu, stated this at a news conference on their observations on the February 25 Presidential

and National Assembly elections. Kalu said that the group noticed some irregularities in the conduct of the senatorial elections in some local government areas in Imo, stressing the need for the tribunal to be thorough in its assignment. He said having observed the elections in Imo, the group was dissatisfied with the outcome of the national assembly elections,

especially that of Imo North Senatorial District and more importantly, in Okigwe Local Government Area. “Imo North senatorial district comprise six local governments: Obowo, Ihitte Uboma, Ehime Mbano, Onuimo, Okigwe, and Isiala Mbano. “As INEC-accredited foot soldiers and electoral process

stakeholders, we are miffed by the results churned out by INEC, concerning winners and losers in that electoral contest. “To the best of our knowledge and understanding, the result of Imo North senatorial district, as dished out, completely ran ultra vires, when compared with the collated results at the polling units and the collation centres.

INEC Ad-hoc Staff Protest Non -payment of Allowances in Delta SylvesterIdowuinWarri

Ad hoc staff of the Independent National Electoral Commission (INEC) in Warri South Local Government Area of Delta State yesterday staged a peaceful protest in Warri against non-payment of their allowances by the electoral body. The protesters, who carried

placards, alleged that the INEC Electoral Officer in the locality had refused to pay their allowances for the February 25 and March 18 general election. The protesters rounded off their protest at the Delta State Broadcasting Service (DBS), Edjeba Office in Warri. Speaking on behalf of the protesters, Messrs. Wilfred

Akponuko and Testimony Okorugbo alleged that four weeks after the general election, they were yet to receive their allowances of N26,000 each for both elections while their counterparts in other local government areas have since been paid. They further alleged that the INEC Electoral Officer for Warri South Local Government Area

paid some selected persons from his personal account. The protesters said when accosted, the INEC official resorted to threatening them. The protesters appealed to the state Governor, Dr. Ifeanyi Okowa, and the Chairman of Warri South Local GovernmentArea, Dr. Michael Tidi, to prevail on the official to pay them their money.

Police Nab Masterminds of Cult Clashes, 15 Others in Ekiti The Police Command in Ekiti yesterday confirmed the arrest of alleged masterminds of cult clashes, and 15 others in connection with different crimes across the state. Addressing newsmen in Ado-Ekiti, the Commissioner of Police, Ogundare Dare, said the arrested suspects included

kidnappers, robbers, rapists and notorious cultists, among other criminals. Represented by the command’s Public Relations Officer, DSP Sunday Abutu, said the Rapid Response Squad (RRS) team of the command, arrested the suspects on April 6, through a bush combing

operations. He named the arrested suspects as Augustine Agboobo, Olamilekan Adeniyi, Friday Williams Ukeuima and Gabriel Ademoh, nabbed inside the forest close to Igede farm settlement. Dare said the suspects during interrogation confessed to be

members of a kidnapping syndicate, who had carried out series of kidnapping operations around the state. He said that the suspects confessed to have kidnapped one Adeleke Ajibade on June 6, 2022, at Igede farm and others and collected ransom before their release.

Police Arrest Two for Allegedly Lynching Suspected Internet Fraudster in Ondo Fidelis David inAkure Ondo State Police Command yesterday said it has arrested two people in connection with the lynching of a suspected internet fraudster, identified as Olorunfemi Tope, who killed two people in an accident on Ijoka road in Akure, the state capital last Monday. The accident involved a Toyota

car, suspected to belong to the 35-year-old alleged fraudster, who rammed into about five commercial motorcycles carrying different passengers at different spots at Ijo-Mimo, through Sunday Bus stop, off Ijoka road in Akure. THISDAY reported that the victims died on the spot, while six others sustained series of injuries. It was also reported that the

driver of the Toyota car, who did not sustain any injury, was trying to escape from the scene before he was caught by angry mob, beaten to a coma and stoned to death while his vehicle was also set on fire. Meanwhile, some of the injured persons were rescued to University of Medical Sciences Teaching Hospital (UNIMEDTH), Akure

annex, while the lifeless bodies were taken to the morgue. Giving an update on the incident, the state Police Public Relations Officer (PPRO), Mrs. Funmilayo Odunlami-Omisanya, said: “Yes two suspects have been arrested in connection with the case of jungle justice in the state while effort is ongoing to arrest others.

INEC Fixes Saturday for Supplementary Election in Rivers Blessing Ibunge inPort Harcourt The Independent National Electoral Commission (INEC) said it would hold supplementary election in Port Harcourt II and Khana/ Gokana Federal Constituencies on Saturday, April 15, 2023. This was disclosed yesterday in a statement signed by the

Resident Electoral Commissioner (REC) in Rivers, Dr .Johnson Sinikiem. According to the REC, the election will commence at 8.30am in the LGAs and Registration Areas. He noted that election will be held at Khana Wards 04 and 07, across 42 polling units. In Port Harcourt, Sinikiem

explained that election will be held in 377 polling units within Wards 05, 10 and 28. Assuring commitment of the INEC in the supplementary poll, the REC urged voters from affected areas to come out enmasse and exercise their franchise on Saturday. “The Management of the Independent National Electoral

Commission (INEC), Rivers State wishes to inform all political parties and the entire public that the supplementary election for Port Harcourt II and Khana/Gokana Federal Constituencies earlier announced by the Commission will hold this Saturday April 15, 2023 by 8.30am in the following LGAs/ Registration Areas.

WEDNESDAY, ͹ͺ˜ ͺ͸ͺͻ ˾ T H I S D AY

WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Osimhen Left Out of Napoli Squad against AC Milan Tonight Femi Solaja with agency report Top Nigerian International and Napoli forward, Victor Osimhen, will be sorely missed tonight in the all-Italian UEFA Champions League quarter final derby clash against AC Milan at the San Siro Stadium in Milan. Napoli manager, Luciano Spal-

C H A M P I O N S L E AG U E letti, said the gangling Nigerian is yet to be fully fit and will not risk the talented forward in what could be the most important match of the club so far this season. Osimhen who is Serie A's top scorer this season with 21 goals,

has missed this month's league games against Milan and Lecce due to a thigh strain he sustained on international duty with Nigeria last month. In a post on their website, Napoli said Osimhen "worked separately"

from the team during Tuesday's training session. Giacomo Raspadori is expected to lead the line against Milan, with Argentine striker Giovanni Simeone also side-lined due to a thigh issue. Napoli beat Eintracht Frankfurt 5-0 on aggregate in the last 16 last month to reach the quarterfinals of the Champions League for the first time. Meanwhile, Milan are expecting a different approach from Napoli in tonight’s match despite thrashing the Naples-based team 4-0 away in a Serie A game earlier this month, manager Stefano Pioli insisted yesterday. Fourth-placed Milan earned a superb Serie A victory over the leaders Napoli on April 2 but were well below par on Friday when they were held to a 0-0 stalemate by visitors Empoli. "I believe we will regain balance, but Wednesday is another challenge, 180 minutes long," Pioli told a news conference yesterday ahead of the game at San Siro. "(Napoli are) a team of the

Victor Osimhen...not ﬁt for the all-Italy Champions League quarter ﬁnal clash at San Siro tonight highest calibre, the team that have scored the most goals in the Champions League, and won the most games after Bayern," Pioli said. "We must play a focused game in every aspect. The opponents

have great quality and they know how to take advantage of every mistake and be dangerous. We cannot afford to drop our concentration levels because the stakes are very high."

...Man City, Inter Take Charge as Bayern, Benﬁca Fall KING HAALAND... Erling Haaland scored his 45th goal of the 2022/23 season to become all time highest scorer in one year in England as Manchester City defeated Bayern Munich 3-0 to put one foot in the Champions League semi ﬁnals

Manchester City and Inter Milan took giant strides toward the Champions League semi-finals with outstanding performances last night. City overpowered Bayern Munich 3-0 while Inter gained 2-0 edge over Benfica respectively last night. At the Etihad Stadium, Erling Haaland, inevitably, was on target with his 45th goal of the season to make him the highest scorer in all

Super Falcons Extend Winning Streak with Superb Victory over New Zealand On a day that world-governing body FIFA marked exactly 100 days to the biggest FIFA Women’s World Cup finals in history, Nigeria’s Super Falcons spanked World Cup co-hosts, New Zealand 3-0 in a friendly in Antalya, Turkey that also marked a third consecutive win for the nine-time African champions. Captain Onome Ebi, who is heading to her record sixth FIFA World Cup finals in Australia and New Zealand, headed the Super Falcons in front after 34 minutes

at the Mardan Sports Complex. She turned the game around after the New Zealanders had put some pressure on the Nigerian defence in the first quarter-hour. Spain-based forward Rasheedat Ajibade missed narrowly with a left-footed shot in the 21st minute, but there was no stopping the inspired Ebi 13 minutes later as she nodded in a cross by Toni Payne. Jennifer Echegini, strong on the left side of the Nigeria defence, made it two for the Super Falcons in the

48th minute after some excellent wing play by Michelle Alozie. Hannah Wilkinson came close to reducing the tally in the 62nd minute but goalkeeper Chiamaka Nnadozie intervened quickly to keep the scoreline at 2-0. The Super Falcons continued to launch onslaughts into the Ferns’ half of the field after Gift Monday replaced Asisat Oshoala and Ngozi Okobi-Okeoghene came in for Toni Payne, and Glory Ogbonna replaced Michelle Alozie.

Power forward Desire Oparanozie, returned to the fold after 18 months, had the last laugh with a typical goal in added time, holding up the ball and slicing past the goalkeeper even with a defender stuck on her. The Falcons have now scored six goals in their last three matches, conceding only one. At the FIFA World Cup finals (from 20 July to 20 August), Nigeria will play in Group B against co-hosts Australia, Republic of Ireland and Canada.

‘Sports Industry Policy Will Ensure Our Sporting Infrastructure Are Never Abandoned Again’ The Minister of Youth and Sports Development, Chief Sunday Dare, has said that the new reclassification of sports from recreation to business as contained in the Sports Industry Policy will ensure the country’s sporting infrastructures will never suffer any neglect again. “With the incentives that have been approved by the Federal Executive Council (FEC) kicking in shortly, we will be able to leverage on private sector financing of stadium and other infrastructure,” observed the sports minister during the inspecting renovation work at the National stadium in Surulere, Lagos. The stadium, built some 51 years ago has been abandoned to rot away for almost 18 years with most

of the critical infrastructure either stolen or are in a state of disrepair. In other climes with flourishing sports culture, the standard years for a stadium before major renovations is 30 years. The National Stadium in Surulere is 51 years old. It has been left unmaintained for 18 years But Dare insisted that sports as business and the enactment of the Sports Industry Policy will be a major achievement under his watch as Sports Minister. Instead of towing the easy ways of previous Ministers in the Sports Ministry, Dare took the bull by the horn to rehabilitate Nigeria's major sporting infrastructures. ' “A lot of people supported me for starting the journey to renovating the National Stadium in Lagos, Abuja

and Ibadan. Yes,it was a bold move in the face of dwindling government revenue and we had to think of an alternative way of starting it. “I can understand why the place has been abandoned for years. The cost of renovating stadiums all over the world is enormous. The Santiago Bernabue stadium in Madrid is estimated to cost $700m while a 15,000 capacity Maldives stadium will cost $25m. The estimate we got for National stadium in Lagos is $41m, which is about N21 billion. How much did it cost to rebuild Wembley Stadium? The stadium was built by Australian firm Multiplex at a cost of £798 million (£1.27 billion). Two partially retractable roof structures over the east and west ends of the stadium

can be opened to allow sunlight and aid pitch growth. The Tottenham Hotspur 61,000 capacity Stadium in London, with building started in 2013 and finally completed six years later in 2019 costs an astronomical $1.4 billion. “We wanted 10 sponsors to take up different sections of the stadium but only Chief Adebutu Kessington hearkened to our call,” the minister recalled. “I also want to stay a special thank you to Alhaji Aliko Dangote who came in for us and the youths of Nigeria by fixing the Moshood Abiola stadium. Julius Berger who constructed the stadium submitted a bill of N1.2b yearly as maintenance cost. That amount will be close to N5b in 2023,” revealed Dare.

competitions in a single campaign since the Premier League began 30 years ago, surpassing Mohamed Salah and Ruud van Nistelrooy. Man City, however, gave a powerful all-round team display while Bayern, under new coach Thomas Tuchel, face a mountainous task of how to turn this quarter-final slip around in the second leg at the Allianz Arena. Rodri broke the deadlock in spectacular fashion with a curling left-foot drive into the top corner after 27 minutes while Bayern had chances of their own, especially former City forward Leroy Sane, who brought a vital save out of Ederson early in the second half. City were always a threat and extended their lead with 20 minutes left, Haaland crossing perfectly for Bernardo Silva to head home after Jack Grealish stole possession off Dayot Upemecano. Haaland was not to be denied and he pounced for City's third six minutes later, getting on the end of John Stones' headed knockdown to

sweep a finish past Bayern keeper Yann Sommer. In Lisbon, Romelu Lukaku scored an 82nd-minute penalty as Inter Milan put themselves in a strong position to advance to the semi-finals of the Champions League after securing a deserved win away at Benfica. In a tightly contested tie, Nicolo Barella's downward header stunned the Portuguese league leaders and gave Inter a priceless advantage. Benfica struggled to dictate play in front of their own fans as Inter produced a defensive masterclass in Lisbon.

RESULTS Benfica 0-2 Inter Milan Man City 3-0 B’Munich

TODAY @8pm AC Milan v Napoli Real Madrid v Chelsea

IMC Slams Wikki with Three Points Deduction, Fined 2.5m Wikki Tourists became the third club in the Nigeria Premier Football League (NPFL) 2022/23 season to face points deduction for violent conduct of their fans. In a Summary Jurisdiction yesterday, the Interim Management Committee (IMC), in a statement signed its Head of Operations, Davidson Owumi, said that Wikki faced a monetary fine totalling 2.5m, three points and three goals deduction and closure of their home stadium to fans for the rest of the season. This followed a review of the findings of the official reports for the Match-day 13 fixture between Wikki Tourists and Bayelsa United on April 9, 2023. Wikki Tourists was found in breach of Rule B8.21, Rule C11, B13.52 and B13.18 of the NPFL Framework and Rules. For breach of Rule B8.21, the club was fined 1million for failing to provide adequate

security for the match officials before, during, and after the match which resulted in the assault of the match officials. In a second charge for breach of Rule C11, Wikki Tourists was ordered to be deducted three points and three goals for assault on Match Officials by the fans. In the third finding for breach of Rule B13.18, the club was fined 500,000 for failure to provide adequate security and implement effective crowd control resulting in the fans throwing objects on to the field of play, targeting Match Officials and disrupting play. Wikki was also ordered to make a compensatory payment totaling 1million to the four Match Officials at 250,000 for each. Wikki Tourists are required to within 48 hours and in accordance with Rule C26, communicate in writing to the IMC, submitting to the ruling or electing to be dealt with by a disciplinary panel.

Wednesday, April 12, 2023

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MISSILE Wike to NASS Leadership Aspirants “I have heard and read people saying that the opposition parties are meeting to take over the leadership of the National Assembly…I will not support that kind of move where you want to take over the leadership of the National Assembly as an opposition” – Rivers State Governor Nyesom Wike objecting to the speculated moves of opposition parties to produce the leadership of the National assembly (NASS).

SAMAMADI GUEST COLUMNIST

Rule of Law Before Democracy W ith the conclusion of the 2023 general election, it is time to review what has happened to our democracy. Since 2015 we seem to be on a climb towards consolidating democracy. This sentiment is supported by the fact that we have completed for the first time a ‘democratic’ transition from one party to another. In Africa, democracy’s major challenge is for incumbents to be defeated and they go home peacefully. Nigeria achieved that in 2015. This achievement is not a trifle. Joseph Schumpeter considers it the essence of democracy. In his view, democracy is the reality that incumbents can be defeated, and they willingly go home. In many SubSaharan African countries, the reality is that attempts to defeat incumbents in elections have easily led to civil conflicts and the loss of democracy itself. But this singular achievement, significant as it is, does not mask the fundamental flaws of Nigerian democracy. The practice of democracy in Nigeria leads objective assessors to the conclusion that Nigeria is not yet a democracy. If democracy is measured by free and fair elections that are grounded in protection for fundamental human rights and impartial working of state institutions, then Nigeria is not yet a democracy, in spite of the fact of party-to-party transition. Nigerian elections always fall far short of democratic quotients. Robert Dahl lists six conditions of democracy: effective participation, equality in voting, gaining enlightened understanding of public issues, exercising final control over the agenda and inclusion of adults. For there to be equality of votes, you must guarantee to citizens opportunities to freely form opinions, freely express those opinions and organize themselves publicly in defense of such opinions. Where there are legal or illegal prohibitions of the right to organize or where state authorities repress opponents of incumbents and confer advantages to incumbents, there is no free and fair election and no equality of voting. Dahl admits that there is no ideal democracy where there is complete political equality yet argues that there must be sufficient institutionalization of these features in a polity to qualify as a democracy. To be a democracy it is not enough to have laws that promise citizens fundamental rights, or laws that declare equal citizenship. Those laws must be faithfully implemented. The reality of these rights and not their mere articulation in sacred texts and constitutional documents is the measure of democracy in a society. This brings democracy closer to the rule of law. It is not a happenstance that there has been no truly democratic society that is not a rule of law society. Of course, we will continue to argue about the reality of the enjoyment of these rights as many members of the society are excluded, whether women and children, as in Athens, or women children and blacks in Antebellum United

INEC Chairman, Professor Mahmood Yakubu

States. But until there is significant rule of law, democracy can never take shape. The struggles of many post-colonial African countries with democracy may be explained by their weakness institutionalising the rule of law. Although these countries, like Nigeria, may have incorporated bill of rights in their constitutions, their politics lacks the effective checks and balances that undergird and define democracy. Democracy would be thoroughly lacking in a society where there is no separation between public and private spheres, where state institutions are normatively oriented to serve the political interests of the ruling elites and where the coercive force of the society is neither professionally managed nor diffused. Democratic elections require that there is competition and contestation. Where there is monopoly of power or total control of state institutions, especially those that punish or reward, then there can be no competitive election in the real sense. If incumbents are not constrained by either administrative rules or by balance of force, it means that

there would be no real competition and contestation. Therefore, there will be little prospect for effective participation and equal voting. This is the case with the 2023 general elections. In the February 25 Presidential and National Assembly Elections, the election management body helped to rig the election for the incumbent political party by mysteriously shutting down the technological safeguard of transparent and credible election- the electronic transmission of result in real time. This undermined the integrity of the election results. Why would a commission that issued a regulation on electronic transmission of results and officially communicated to Nigerians and diplomatic community its commitment to follow through on the regulation now refused to activate that guarantee of transparency and credibility of results? In March 18 Governorship and House of Assembly Election, voters of Igbo ethnic descent were forcefully prevented from voting because the presidential candidate, the incumbent Governor of Lagos and his political surrogates accused Igbos of interfering in Lagos politics and mobilized the people to resist that. The Police did not intervene to protect the citizenship rights of Igbos. The story above illustrates the truth of the insights from Robert Dahl who argued in his book, Polyarchy: Participation and Opposition, that democracy (polyarchy) is only possible where there is real contestation for power. There will be no contestation unless the institutions of coercion have internalized the norms of neutrality and professionalism or there is a diffusion of power such that no single person or group has overwhelming control of the economic or coercive power of the state. In the 2023 elections, we learnt a hard way that unless we can guarantee the professionalism of the security agencies and the election management body, that is ensure that they are operationally neutral of political and economic interests in the society, we cannot have any realistic prospect of having democratic election. The rule of law approach to state building provides better perspectives to understand the failures we have suffered as a nation. Since the end of colonialism there has been a strong advocacy for democracy. The democratization movement has been largely a failure in some of the transitional and so-called emerging democracy. The problem is that democracy proponents have lost of the history democracy. Democracy

“The manner the police, the election management body and other institutions that intervene in election matters deliver their mandates is the real determinant of free and fair election”

is a struggle for equality. This struggle is practical but results in basic changes in law. The underlining institutions of democracy, the reason democracy works, are defined by transformations in law. Without the Magna Carta, with the Bill of Rights in the US Constitution and without the laws that expand the franchise to excluded persons, there would have been no democracy in the western democracy. The law reform project failed in Nigeria and the rest of Africa as highlighted by Mamdani Mahmood and other African scholars. This failure, as Robert and Ann Seidman wisely noted, is the failure to use law to redefine the institutions of coercion and production and distribution in the post-colonial African states. Free and fair election requires that the security agencies are created and defined in a particular manner that guarantees that they are professional and neutral. Now professionalism and neutrality may sound like technical concepts. But they are first and foremost a matter of legal institutionalization. The manner the police, the election management body and other institutions that intervene in election matters deliver their mandates is the real determinant of free and fair election. The construction of these institutions in a manner that promote political equality is the essence of the rule of law. After the shambolic 2007 presidential election, President Yar’Adua instituted a comprehensive review of the electoral system. This resulted in the radical propositions in the Justice Uwais report. The report was largely unimplemented. The proposals by Justice Uwais committee if fully and wisely implemented would have transformed the legal institution of elections in Nigeria. Those reforms that changed the legal relations in society are the heart of rule of law reform. As Professor Douglas North makes clear, institutions include all rules, procedures and humanly designed constraints and enablers of action. When we speak of the critical institutions of democracy, we mean those legal relationships in the society that prevent certain actions and mandate others. If such legal relations are wise, effective and make political equality a reality, then we are getting closers to democracy. If state governments can easily mobilize state institutions to work for them, then there is no rule of law. If rules and norms constrain them from so utilizing these institutions to terrorize their opponents, then that is a rule of law state that promotes electoral democracy. Rule of law has the dimension of substantial justice because it aims at the promoting civil and political as well as social economic rights of the people. If our laws do not actually protect these rights, then we cannot get to electoral democracy. This invariably means that being truly a rule of law state precedes being a democratic state. If we don’t first ensure that our institutions work according to the principles of the rule of law, we cannot transition to democracy.

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