MONDAY 22TH APRIL 2024

The federal government has concluded plans to launch and deploy Compressed Natural Gas (CNG) vehicles for mass transit, starting this May, as part of activities marking President Bola Tinubu’s one year in office.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement, yesterday.

Onanuga said while considering buses and tricycles in addition, the government targeted about one million automobiles by

James

Army: Two Officers, Four Soldiers Killed in Ambush, Fire-fight with Terrorists

Two soldiers wounded, hospitalised Says troops gallantly fought through the ambush, eliminated several terrorists, captured equipment

The Nigerian Army Headquarters said weekend that two army officers and four soldiers were killed during a fire-fight with terrorists in Niger State following an ambush. It said two soldiers were wounded and hospitalised.

A statement signed by Director, Army Public Relations, Maj.-Gen. Onyema Nwachukwu, said six personnel paid the supreme price following the fire-fight. It said troops gallantly fought through the ambush and

eliminated several terrorists and captured equipment.

The statement said, "Troops of 1 Division Nigerian Army deployed at Allawa and Erena, while on a fighting patrol to Karaga Village in Shiroro Local Government Area of Niger State had an encounter in an ambush staged by terrorists on 19 April 2024.

"Troops gallantly fought through the ambush and eliminated several of the terrorists as well as captured some of their equipment.

"Sadly, the troops suffered

a temporary setback as six personnel comprising two officers and four soldiers paid the supreme price."

The statement said the General Officer Commanding 1 Division and Commander, Operation Whirl Punch, Maj.-Gen. Landers Saraso, on behalf of the Chief of Army Staff (COAS), Lt.-Gen. Taoreed Lagbaja, sympathised with the families of the deceased personnel and promised them that the unfortunate setback will be avenged by the troops.

He said the troops were on

the trail of some of the terrorists who survived and fled after the encounter.

Nwachukwu urged the people of the state to go about their legitimate activities and reassured them that the Nigerian Army and other security agencies will ensure their protection at all times.

The Nigerian Army headquarters further stated that in line with customs and traditions, the Nigerian Army had contacted the next of kin of the fallen heroes, while burial

had been conducted for the deceased Muslim personnel with the consent and approval of their family members.

It said the Chief of Army Staff was represented at the burial, which took place at Minna Military Cantonment Cemetery, by Commander, Training and Doctrine Command (TRADOC), Maj.-Gen. Kelvin Aligbe.

The deputy governor, representative of the COAS, GOC, and other senior officers also visited the two wounded soldiers receiving medical attention at the

FIRSTBANK HOLDINGS ANNOUNCES OLUSEGUN ALEBIOSU ACTING CHIEF EXECUTIVE OF FBN

However, the appointment, which takes immediate effect, is subject to the approval of the Central Bank of Nigeria (CBN).

The statement added that the announcement was in accordance with the Rulebook of The Exchange (Issuers' Rules), which required that the Nigerian Exchange Limited and the investing public be duly notified of such development.

military hospital and subsequently paid condolence visits to the families of the deceased.

"We urge the general public, particularly the good people of Niger and contiguous states, to continue to avail the Nigerian Army and other security agencies with actionable and timely information to enhance the operations of the troops," the statement said.

He joined FirstBank in 2016 and has over three decades of banking experience.

"The Board of Directors expressed gratitude to Adeduntan for his exemplary leadership in the last nine years during which he superintended the transformation and growth of the bank and wish him well in his future endeavours," the statement added.

The new acting First Bank

Alebiosu was an Executive Director/Chief Risk Officer who jointly led the transformation of FirstBank over the past eight years, and remained an integral member of the team under the previous CEO's leadership. He is well positioned to deliver on the bank's strategic objectives.

CEO brings to the Executive Management of FirstBank over 28 years' experience in the banking and financial services industry with crossfunctional exposure to credit risk management, financial planning and control, credit and marketing, trade, corporate and commercial banking, agriculture financing, oll and gas, transportation (including aviation and shipping) and project financing.

He commenced his professional career in 1991 with Oceanic Bank Plc. (now EcoBank Plc.).

He is an alumnus of Harvard School of Government and holds a bachelor's degree in Industrial Relations and Personnel Management.

Alebiosu also obtained a master's degree in International Law and Diplomacy from the University of Lagos and holds a master's degree in

Prior to joining FirstBank in 2016, he served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group, and Group Head, Credit Policy and Deputy Chief Credit Risk Officer at United Bank for Africa Plc.

FG TO DEPLOY, LAUNCH FIRST SET OF CNG VEHICLES IN MAY TO MARK TINUBU’S ONE YEAR

2027. He said the committee led by Michael Oluwagbemi was set to deliver cheaper, safer and more climate-friendly energy vehicles.

Onanuga said the committee had fulfilled some foundational reforms to enable the new CNG and electric vehicles deliver the future Tinubu promised.

He added that all was ready for delivery of the first set of critical assets for deployment and launch of the vehicles ahead of the first anniversary of the Tinubu administration on May 29.

The presidential aide assured that from the end of May this year, Nigeria would join the league of nations with large fleets of CNG vehicles.

The federal government provided N100 billion, as part of the N500 billion palliative budget, to purchase 5,500 CNG vehicles, being part of the many intervention programmes to cushion the effect of increase in petrol pump price on the masses. This included buses and tricycles, 100 electric buses and over 20,000 CNG conversion kits, spurring the development of CNG refilling stations and electric charging stations.

Onanuga stated that with necessary tax and duty waivers approved by Tinubu in December 2023, the private sector partners in the Presidential CNG Initiative (PCNGI) had responded with over $50 million in actual investments in refuelling stations, conversion centres, and mother stations.

He stated, “Also, a safety policy document on 80 standards and regulations that must be strictly adhered to by operators has been developed

and approved to ensure CNG conversions are done safely and reliably.

“The deployment of CNG buses and tricycles and the vision to get at least one million natural gas propelled vehicles on our roads by 2027 will mark a major energy transition in our country’s transportation industry.

“The use of more expensive diesel and PMS will gradually be phased out, when many vehicles, including trucks, run on natural gas, which our nation has in abundance in at least 30 out of the 36 states of the federation.”

Onanuga stressed that one of the main causes of air pollution was the amount of gases emitted by gasoline and diesel engines, adding that to mitigate pollution, some countries, like India, China, Iran, Pakistan, Brazil, Argentina, and Italy, have built fleets of natural gas powered vehicles, instead of going the route of relying on liquid petroleum products propelled vehicles, as natural gas vehicles reduce tail pipe emission by up to 40 percent.

He added that Nigeria’s commitment to this course would enable the country meet her nationally determined commitments (NDCs) under Paris Climate Accord to which it is a signatory.

According to Onanuga, “Four plants owned by JET, Mikano, Mojo, and Brilliant EV located in various parts of the country are involved in the assembly of the Semi Knocked Down (SKD) components of the CNG buses.

“JET, which has received the SKD parts, is coupling the buses in Lagos and is working towards delivering 200 units

before the first anniversary of the Tinubu administration.

“Brilliant EV will assemble electric vehicles. It is awaiting the SKD parts, which will arrive in due course. The electric vehicles it will produce are meant for states, such as Kano and Borno, which do not have access to CNG for now.

“They will also be available in key Nigerian cities and university campuses. It must be noted that soon to be completed gas pipeline projects initiated by the Buhari administration and being completed by NNPCL (the AKK Pipeline) will take gas into the hinterlands of North-east and North-west where there is current paucity.”

He said over 600 buses were targeted for production in the first phase that will be accomplished this year while a new plant on the Lagos-Ibadan Expressway will assemble thousands of tricycles.

“The SKD parts manufactured by the Chinese company LUOJIA in partnership with its local partner to support the consortium of local suppliers of CNG tricycles are set for shipment to Nigeria and expected to arrive early in May. About 2,500 of the tricycles will be ready before May 29, 2024.

“Thousands of conversion kits for petrol powered buses and taxis that want to migrate to CNG are also ready with CNG cylinders. The federal government intends to provide them at subsidised rates, especially to commercial vehicle drivers to bring down the cost of public transportation.”

As part of private sector collaboration, NIPCO and BOVAS are involved in offering

refilling services for the CNG vehicles and also serving as conversion centres.

NIPCO is setting up 32 stations nationwide to offer the services. The company has completed the set-up of four of the CNG stations.

“Likewise, BOVAS is setting up eight stations in Ibadan, two each in Ekiti, Abuja and four in Ilorin. MRS is also involved. It is making efforts to announce where its refilling stations and conversion centres will be,” Onanuga added.

He also said NNPC Limited, which had launched an on-and-off CNG initiative in the past, was joining the new initiative and was soon expected to announce the locations for CNG refilling and CNG conversion centres nationwide.

The statement said PCNGI was working with 22 other agency-partners, including the Standards Organisation of Nigeria(SON) and Nigeria Automotive Design and Development Council, to deliver 80 Natural Gas Vehicle Conversion and Associated Appliances Standards for the country.

Onanuga said, “The Tinubu administration is an enabler of the evolving CNG industry. In collaboration with the private sector, the PCNGI is set to deliver 100 conversion workshops and 60 refuelling sites spread across 18 states before the end of this year.”

He explained that the vision of the president to deliver one million gas vehicles could not be possible without the private sector, including the RTEAN, NARTO, NURTW and players in the downstream sector of the transportation chain and financiers.

Development Studies from the London School of Economics and Political Science.

He is a member of various professional bodies, namely, Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN), and Member, Nigeria Institute of International Affairs.

He is a golfer and an adventurer who is happily married with children.

EDUN: NIGERIA SECURES $2.25BN

WORLD BANK CREDIT, PLANS DIASPORA BOND TO BOOST FX INFLOW

single-interest loan from the World Bank.

The minister said the bank's board of directors had approved the credit, currently under processing.

According to him, the facility offers a 40-year-term with 10 years moratorium at 1 per cent interest rate.

Edun disclosed this while briefing journalists at the justconcluded Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C.

He said the loan was virtually a grant, and a “free lunch”, noting that it was the “closest you can get to free money”.

The minister also disclosed that the country was set to benefit from budgetary support and low-interest funding from the African Development Bank (AfDB).

He also said that to boost capital inflows into the country, the current administration was looking to double the current diaspora remittances and expects a substantial and successful diaspora bond issue later in the year.

He said, “In terms of remittances, it is one of how we can boost foreign exchange supply and funding for investment in the country. There are Nigerians abroad, they are doing very well. They have significant funding. There are even Nigerians in Nigeria with funds abroad. That too would be counted as a remittance.

“And to help the issue of supply of foreign exchange to the Nigerian economy, the government is looking at attracting those funds and capturing those funds through a diaspora type of instrument, a diaspora bond.”

Edun pointed out that having achieved some level of success in stabilising the economy, the federal government remained focused on attracting funds to support growth.

He said one of the challenges currently confronting the government was attracting long-term funds for long-term uses, particularly the provision

of low-interest mortgages.

He added that unlocking such funds would help to grow the economy by creating jobs in the medium term adding that while the Central Bank of Nigeria (CBN) is currently focused on curbing inflation, the fiscal side was making efforts to create an enabling environment for investments.

Edun said the government continued to engage with international investors particularly the foreign direct component to attract quality funding to build factories and directly create jobs.

He said these investors have demonstrated greater confidence in the management of the economy, including a renewed willingness to invest in the country.

The minister, however, said Nigeria is expected to receive the largest share of the World Bank’s planned provision of electricity to additional 300 million people in Africa between now and 2030.

He described the World Bank initiative as one of the most exciting developments from meetings, stressing that the outcome was the collaborative efforts between the bank and other development partners.

The minister also said going forward, the fiscal strategy would be focused on increased domestic resource mobilization and prudent management of public finances.

Edun said, “Overall, the Nigerian delegation has received positive feedback from the participation at the 2024 World Bank and IMF Spring Meetings.

“Of course, we took the opportunity to showcase the bold and courageous fiscal consolidation measures that Nigeria has undertaken and explained in clear terms the sequencing of our reforms, the emphasis on domestic resource mobilisation, the ramping up of domestic revenues, efficiency in expenditure.

“And of course the fact that the private sector remains the key engine of growth and therefore attention is being paid to ensure that they have a conducive macroeconomic framework.”

Kingsley Nwezeh in Abuja

Lagbaja

ACCESS HOLDINGS 2ND ANNUAL GENERAL MEETING...

L-R: Executive Director, Access Holdings Plc, Lanre Bamisebi; Non-Executive Director, Access Holdings Plc, Olusegun Ogbonnewo; Company Secretary, Access Holdings Plc, Sunday Ekwochi; Acting Group Chief Executive Officer, Access Holdings Plc, Bolaji Agbede; Chairman, Aigboje Aig-Imoukhuede; and Non-Executive Director, Roosevelt Ogbonna during the Group’s 2nd

Again, NNPC Pledges to Transform Nigeria into Gas-powered Nation

Lagos exchange plans crude oil trading, eyes 50m barrels annually

Addeh

The Nigerian National Petroleum Company Limited (NNPC) at the weekend reiterated its commitment to transforming Nigeria into a gas-powered nation, in line with the country’s enormous natural endowment of over 209 trillion cubic feet of gas reserves.

A statement from the national oil company stated that its Group Chief Executive Officer, Mele Kyari , made the remarks when he received the

Energy Times' GCEO of the Year Award in Lagos. Kyari who was represented on the occasion by the Chief Corporate Communications Officer of the Company, Mr. Olufemi Soneye, highlighted that the NNPC had been in transition since the passage of the Petroleum Industry Act (PIA).

"We are building gas infrastructure such as the OB-3 Gas Pipeline, AKK Gas Pipeline to deepen the use of gas in the domestic market, while we are also promoting the West Africa

Gas Pipeline and the Nigeria-Morocco Gas Pipeline, as well as the Train 7 of the NLNG and number of Floating LNG Projects to deliver gas the global market," Kyari stated.

The GCEO further noted that the NNPC was also aggressively expanding its portfolio in the power sector to make the company a truly rounded energy company.

"Apart from our stakes in a number of Independent Power Plants (IPPs) such as Afam VI, Okpai Phases 1 and 2 with a combined installed

Edo Impresses World Bank with Impact of Education Reforms

State responds to 27 health emergency calls in one month

The World Bank has commended the Edo State Governor, Mr. Godwin Obaseki, for his government’s reforms in the basic education sector, expressing satisfaction with the progress and impact of the reforms in the last six years.

A World Bank delegation led by the Bank’s Education Economist, Martín De Simone, said the state had continued to meet set goals, significantly progressing with its basic education sector reforms and upskilling the state’s teeming youth population through the Edo Basic Education Sector and Skills Transformation (EdoBESST) Programme.

The delegation which is on a four-day working visit to the state is collaborating with stakeholders from the Edo State Ministry of Education, the Edo State Universal Basic Education Board (Edo SUBEB), and other government agencies implementing far-reaching reforms geared at repositioning Edo State in basic education and skills development.

“We are evaluating and reviewing the progress achieved so far in the implementation of the state-wide basic education and skills transformation reform which was launched in 2018 by the State Governor, Mr. Godwin Obaseki.

“We have held extensive meetings with key stakeholders

over the past four days and have identified key areas where progress has been made and areas that need to be further strengthened as we work toward achieving the goals of EdoBESST.

“We are particularly pleased that the data before us shows that there is improvement in the basic education system since the implementation of reform in various areas, including the performance of the pupils in state-owned primary schools,” De Simone said.

After the team visited The Situation Room situated at Block B, State Secretariat at Sapele Road in Benin City, he commended the Obaseki-led administration for creating the facility where activities of the programme are monitored.

De Simone added: “The Situation Room created to monitor teachers, students, and schools’ performance is unique because it helps in real time data gathering, compared to what the bank has seen in other states. “The Situation Room from where activities of teachers, schools and pupils are being monitored will help in improving the overall performance of each school as teachers are cautious because they know their activities are monitored and it will equally improve the performance of the pupils.”

Also, a Senior Education

Specialist with the World Bank, Dr. Olatunde Adekola while commending the governor encouraged the governor to urge UBEC to come learn from Edo SUBEB.

The Executive Chairman of Edo SUBEB, Ozavize Salami reeled out the impact of the programme which was launched six years ago.

She said: “This is the sixth World Bank mission in the course of the EdoBESST programme. The programme has been on for six years and the partnership with the World Bank is for four years now and we have seen the results of what we set out to achieve.

“We established The Situation Room in Edo SUBEB to gather real time data for the Edo Basic Education Sector Transformation (EdoBEST) programme. Now we can track the performance of our teachers, head teachers and pupils directly from our office in Benin City. It provides us with a reliable means of gathering information to guide us in making better policies.

“It also helps us to set realistic goals and monitor our progress in real time. We have redefined school level quality control in Nigeria through The Situation Room. Right now, I can monitor the performance of our teachers, students and schools right from this office.

capacity of 1,420MW, there have plans to build three new power plants in the AKK Pipeline corridor Abuja, Kaduna, and Kano.

“The ground-breaking ceremony of the 1,350MW wholly owned Gwagwalada Power Plant was performed by President Bola Ahmed Tinubu in August last year" he added.

The statement added that the award was in recognition of Kyari’s “commitment to accountability, transparency, and performance excellence.”

Kyari, who dedicated the award to all NNPC staff, thanked the Energy Times editorial board for finding him worthy of the recognition.

He added that it would spur him to work harder towards achieving more for both the NNPC and the

Nigerian oil & gas industry.

Meanwhile, the Lagos Commodities and Futures Exchange (LCFE) plans to offer crude oil and gas trading to deepen access to financing for the industry, the biggest foreign-exchange earner for the nation, Bloomberg has reported.

The LCFE is working with the Securities and Exchange Commission (SEC) to meet trading requirements after obtaining guidance from the Abuja-based agency, its Chief Executive Officer Akinsola AkeredoluAle said.

“The consideration is that 10 to 20 per cent of Nigeria’s crude oil production be provisioned for trading on the floor of the Lagos Commodities and Futures Exchange,” he said in an interview, without being drawn

on when it would start.

It will be the first time the fossil fuel will be traded on an exchange in Africa’s largest oil producer. LCFE was incorporated in May 2015 and was granted full operating Licence on June 14, 2019 by SEC, according to the organisation’s website.

Its main purpose is to enhance the Nigerian income revenue source; create transparency, price discovery, guarantee quality and prompt delivery, put Nigeria on the global revenue map directly and enhance flow of foreign currency into Nigeria. The LCFE will connect oil producers to local and offshore markets, curb default risks, boost product availability and encourage more investments, Akeredolu-Ale said.

Abiodun Flags Off Sale of Rice to Civil Servants at Discounted Rates

James Sowole in Abeokuta

Ogun State Governor, Dapo Abiodun, at the weekend commenced the sale of rice to civil servants in the state at discounted prices, saying it was part of his commitment to the welfare of the workforce.

The event took place at the 'Oja Irorun' Civil Servants Farmers' Market at the Governor's Office, Oke-Mosan, Abeokuta. Abiodun, who was represented by the Head of Service, Mr. Kehinde Onasanya said the occasion was a significant step in the ongoing efforts of the state government at improving the living standards of workers in the state.

The governor praised the dedication and the commitment of the workers to service, whom he noted contributed immensely to the success achieved by his administration.

"Ogun state civil servants' dedication and hard work form the bedrock of the progress and prosperity of our dear state. Recognising this invaluable essence of workers to the actualisation of the policies and programmes of the state government, the administration has graciously approved the sale

of high quality bags of rice at discounted prices exclusively to the workforce," the governor said. Abiodun urged workers across Ministries, Departments, and Agencies (MDAs) to take full advantage of the opportunity and embrace the good gesture by the state government.

In his welcome address, Onasanya, represented by the Permanent Secretary, Bureau of Establishments and Training, Mrs. Lydia Fajounbo appreciated the government for the initiative, which is one of the many interventions by the government to cushion the effect of the fuel subsidy removal for the state workforce.

The Head of Service, however, urged the workers to reciprocate the good gesture of government by remaining dedicated to duty and collectively work for the progress of the state.

In their separate goodwill messages, the Chairman, Joint Public Service Negotiating Council (JNC), Isa Olude and his counterpart from the Nigeria Labour Congress (NLC), Ademola Ahmed-Benco, appreciated the state government for the initiative, which they said, would restore the purchasing power of the people and promote the

welfare of workers.

The union leaders added that the gesture was a testament that the state has a caring and listening governor whom they are proud of, and charged the workers to reciprocate the gesture by effectively and efficiently discharging their statutory duties.

Two of the beneficiaries, Mrs. Temitope Akintayo from the Ministry of Culture and Tourism as well as Mr. Olabanji Sanni, from the Ministry of Environment, thanked the state government for putting the process into motion and promised to keep working assiduously towards effective service delivery.

The bags of rice were handed over to the beneficiaries by Onasanya on behalf of the government while buses were also provided at no cost to convey the workers from the venue of the programme to a reasonable distance. Interventions by the Abiodun-led administration include: Provision of monthly cash palliative, payment of peculiar allowance to deserving workers, provision of CNG buses workers and the citizens as well as the payment of a robust end of year bonus to all civil/public servants of the state last December.

Emmanuel

in Abuja

Annual General Meeting in Lagos, on Friday.

SUNDAY ADIGUN

AFRICAN HERITAGE AWARDS...

L-R: Former President of Botswana, His Excellency, Lt. Gen. Seretse Khama Ian Khama; Chairman of Heritage Times HT, Moses Siloko Siasia; and former President of Ghana, His Excellency, John Dramani Mahama, at the second African Heritage Awards in Lagos ... recently

S&P: Dangote Refinery May Curtail W’Africa’s Reliance on Imported Petrol by 290,000 bpd

Emmanuel Addeh in Abuja

S&P Global Commodity Insights has projected that when the 650,000 Dangote refinery finally ramps up refining activities, it could massively reduce West Africa’s reliance on import of petrol from Europe by as much as 290,000 bpd, thereby becoming a dominant supplier in the sub-region.

S&P analysts, who spoke during a panel discussion themed: “Exploring West Africa's Oil Product Flows in a Changing Refining Landscape”, agreed that although delayed, the $19 billion facility in Lagos will before 2026, significantly change the fuels supply landscape in West Africa.

The panel featured Joel Hanley, Matthew Tracey-Cook, Kelly Norways and Elza Turner, all analysts and contributors at S&P Global.

Also, S&P said that Nigeria has recently cut the maximum sulphur content for gas oil imports from 3,000 parts per million to below 500ppm, thereby significantly stifling import of the product from Europe to Nigeria.

“Once Nigeria sees Dangote reach a steady state capacity, that could

mean some 327,000 barrels per day gasoline (petrol) supply and 244,000 barrels per day of diesel or gas oil. In practice, how that splits between the domestic market and the export market remains to be seen.

“There's a significant amount of pressure from the Nigerian government for significant volumes of that supply to flow to the domestic market to try and solve this cost of living crisis and prevent significant pay-outs that need to be made onto importing those large volumes.

“ But in reality, when we see that start to scale up is still subject to debate. Dangote have been espousing some pretty punchy timelines.

“They've most recently been saying that they're looking to produce gasoline by May latest, but in reality, our analysts expect that that would be something like the fourth quarter of this year and in a more realistic timeline.

“Once we see the refinery ramp up, that could mean that West African gasoline imports or the import reliance that they have at the moment could drop by as much as 290,000 barrels

NAICOM: Operators Laud Ex-commissioner, Expresses Confidence in New Leadership

Ebere Nwoji

Operators in the insurance sector have reacted to the recent change in the leadership baton of the National Insurance Commission(NAICOM), saying the new administrative team led by Mr Olusegun Omosehin, would help in achieving President Bola Tinubu’s target of $1 trillion economy as well as deepening insurance penetration in Nigeria.

The operators also said the erstwhile insurance commissioner, Mr. Sunday Thomas, was not removed from office as some members of the public termed it, but completed his tenure and exited for a new administrative team to take up the commission’s leadership baton.

Some of the operators who spoke to THISDAY on telephone highlighted what they described as some landmark achievements of Thomas and qualities in the new team.

Former Chairman, Nigeria Insurers Association (NIA) as well as Principal Consultant, Carefirst Consult, Gus Wiggle, said: “ it is indeed essential to recognise that Mr. Sunday Thomas, the Commissioner for Insurance, completed his term and was not renewed. Therefore, the term ‘removal’ wouldn’t be accurate in this context.

“Regarding the new administration’s agenda of renewed hope, deepening

insurance penetration in Nigeria and the target of a $1 trillion economy, a plan of the new administration led by President Bola Tinubu, it is just necessary to bring in a new team to achieve this goal.

“The appointment therefore of Mr. Omosehin and the two deputies should not come as a surprise to anyone who has been following these trio in their different positions before now.

“These appointees hold promise for injecting fresh ideas into the insurance landscape, aligning with the administration’s goals. Let’s hope their collective efforts contribute positively to the industry’s growth and development of the Nigerian economy.”

New Chair NIA, Mrs Adebola Odukale, commended the erstwhile leadership of Thomas in NAICOM, describing it as remarkable.

“Thomas’ leadership was quite remarkable with invaluable reforms especially in the space of technology. The NAICOM portal integration with underwriting companies provided enhanced engagement with practitioners’ core activities.

“Thomas was a strong advocate of prompt claims payment and he never missed any opportunity for engagement with the industry to emphasise it. This , he would say is key to continuous growth of the industry,“ she said.

per day between 2023 and 2026. So really, this could become quite a dominant supplier in the West African market, subject to when we start to see those barrels hit the market in Nigeria and the local region,” said Norways, Downstream Sector Oil analyst at S&P.

S&P described the ongoing level of downstream activities in the downstream as a ‘flux’, stressing that the Dangote refinery may also reduce the amount of cargo that often sit off the coast of West Africa.

“ If you've ever been to Lagos, you see these enormous queues of refined products tankers waiting there. Now, one thing that I think people thought might relieve some of the pressure and, as I said, redress the imbalance somewhat would be the

Dangote refinery...

“And it's finally got going, not fully up to speed perhaps, but we started to see a cargo coming out, which is exciting,” stated Hanley, a Director at S&P.

Hanley stated that while the ramp-up is important, it was also important for the firm to look at ‘where the money is.’

“ As you said, there's pressure from the Nigerian government because, of course, they would like this much-vaunted, long-awaited, Waiting for Godot kind of refinery to supply the local market and take some of the pressure off.

“But if the international markets are prepared to pay up for that product, then it's going to be tricky. It's a very tricky balance to decide where that

flow will go,” Hanley added.

With the upcoming Port Harcourt and the Warri refineries, about four major refineries in South Africa, the new refinery in Ghana and Angola’s ongoing three plants, Turner, a Contributor at S&P, stated that the sub-region was undergoing quite a massive change in the refinery landscape.

“They (Angola) 're building three new refineries. There are all sorts of other projects in Africa. Over the years, there have been indications of Russian companies interested in building some of these refineries. There has been hardly any update in the recent years about those.

“

But we have a lot of upgrade programmes in Africa, and quite a few refineries are involved in building

new secondary units,” Turner said.

Another analyst at the firm, Tracey-Cook, noted that: “Russia has completely cut off exports to West Africa, which saw some other regions that we haven’t previously seen exporting take some space in the total export pool”.

“So the Mediterranean, specifically Spain, has been taking a larger role in Europe, exporting gasoline into Nigeria in particular,” Tracey-Cook said.

The much-awaited Dangote refinery last week announced a price reduction of diesel to N1,000 per litre from N1,200 previously and has refuted insinuations that the slash in price was attributable to the high sulphur content of its products.

Segun Awofadeji in Gombe

The Gombe State Government is poised to unlock the full potential of the Wawa-Zange Grazing Reserve towards enhancing food security, economic prosperity, and livestock productivity in the state.

The Project Coordinator explained that the government is determined to address the perennial water scarcity bedeviling the grazing reserve which thwarted and stunted the development of livestock production in the area.

"Water security is a crucial focus of our project. Plans are underway to draw water from the Kupto River and tap into underground water resources. Geological surveys confirm the viability of these options, and industrial boreholes will soon be constructed. This improved water access will benefit animals, surrounding communities,

The Gombe State Coordinator of the Livestock Productivity and Resilience Support (L-PRES) Project, Professor Umar Bello Abubakar, gave this indication while receiving a delegation from Wawa-Zange Community during a courtesy call in his office, weekend. Recognizing the long neglect of animal production in Gombe State, Professor Abubakar highlighted Governor Inuwa Yahaya's commitment to upscaling productivity and ensuring food security while maximizing the benefits of the reserve, which is one of the largest in Nigeria.

and irrigation projects. This will also encourage herders who migrated due to water scarcity to return, further boosting the state's economy", he explained.

Prof. Abubakar also revealed that plans are underway for the installation of solar-powered electricity, establishment of milk processing centre, market, motel, among other facilities in the reserve.

"In addition to making the reserve an effective livestock production center, we plan to turn it into a resort and a tourist attraction site that will pull tourist from within and outside the country", he noted.

Professor Abubakar emphasized the importance of embracing modern

livestock production methods and urged the community to support the L-PRES project and other government policies and programmes for more productivity and economic prosperity. He urged the community leaders to foster peace and collaborate with the government to maintain the tranquility enjoyed in the state, encouraging them to report any suspicious activity that could disrupt peace and progress.

Earlier speaking, Malam Adamu Hassan (Sarkin Fulanin Wawa-Zange), on behalf of the Wawa-Zange Community, extolled the L-PRES project for their unrelenting efforts towards improving livestock production and overall economic prosperity.

The Socio-Economic Rights and Accountability Project (SERAP) has asked Nigeria’s 36 state governors and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to account for how they spent the allocations to them by Federal Account Allocation Committee (FAAC) since 2019.

The group also asked them to provide and widely publish documents on the spending of FAAC allocations received by their states and the FCT since 1999.

FAAC is responsible for reviewing and adopting the allocation of funds to states and

the Federal Government of Nigeria. The requests followed reports that the committee disbursed N1.123 trillion to the federal, state, and local governments for March 2024 alone.

SERAP’s request was contained in the Freedom of Information (FoI) inquiry dated April 20, 2024, and signed by its Deputy Director, Kolawole Oluwadare.

“Without this information, Nigerians cannot follow the actions of their states and the FCT, and they cannot properly fulfil their responsibilities as citizens.

“Trillions of FAAC allocations received by Nigeria’s 36 states and the FCT have allegedly gone down

the drain. The resulting human costs directly threaten the human rights of socially and economically vulnerable Nigerians,” it said.

The group stated that publishing the documents would enable Nigerians to meaningfully engage in the implementation of projects executed with the FAAC allocations collected.

“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter.

“If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel you and your state and the FCT to comply with our requests in

the public interest,” the statement stressed

Part of the FoI request by SERAP said: “Secrecy in the spending of FAAC allocations received by your state and the FCT is entirely inconsistent and incompatible with the Nigerian Constitution 1999 (as amended) and the country’s international anti-corruption obligations.

“Secrecy in the spending of FAAC allocations received by your state and the FCT also denies Nigerians the right to know how public funds are spent. Transparency in the spending would allow them to retain control over their government.

FOR A BLISSFUL UNION...

L-R: Mrs. Wendy Ephraim-Faloughi, Chief Ephraim Faloughi, Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo, Governor Douye Diri, parents of the bride, Chief Harcourt Adukeh and his wife during the traditional marriage ceremony of Initeme Princess-Adukeh and Justin Osagie-Eromhonsele in Yenagoa on Saturday

Why Managing Nigeria’s Airspace is Difficult, NAMA MD, Farouk, Clarifies

Agency may increase navigational charges

Chinedu Eze

The Managing Director of the Nigerian Airspace Management Agency (NAMA), Umar Ahmed Farouk, has explained that the agency was facing challenges in managing the airspace because the navigational and surveillance infrastructure had become obsolete and needed urgent renewal in order not to threaten air safety in the country.

Farouk also regretted that there was paucity of Air Traffic Controllers, who play critical role in managing the airspace, guiding aircraft safely from one airport to another.

To this end, he contended that the agency urgently needed recruitment, training and deployment of the

personnel to the airports in dire need of them.

He also disclosed that NAMA would increase navigational charges in order to generate enough revenue to cover the cost of managing Nigeria’s airspace, stressing that NAMA was not a profit-making organisation but striving to recover expenditures through revenue generation.

Farouk, made this known yesterday in an interview with aviation journalists in Lagos, said the agency was making efforts to improve communication, navigation and surveillance in the airspace, which were critical services it provided for safe flight operations.

The NAMA MD equally explained

the challenges the agency was facing in the area of communication in the airspace and how his leadership had been improving the situation.

“Before now, most of the airlines avoided Nigerian airspace and they found it extremely difficult to communicate with air traffic controllers. The reason was that the communication system was weak, and over-saturated due to demand.

“As the industry is growing, you should expect more routes to open and there was no corresponding facility to match the emerging air traffic. So, what we did was to cause a huge investment in that regard by the federal government.

“We realised that there were so

many openings, so many routes, we had to increase more stations to have signals that would cover the entire Nigeria. The entire communication had been re-designed to make sure that everywhere, every blind spot is covered.

“And where we are today, even if one system fails, the air traffic controller will not notice because there is an overlap and where one overlaps the other; the other one will assist you.

“We realised also that our radios are working well and well positioned and we have addressed the challenges we met but then, we are still having issues. These issues have nothing to do with radios. Now, it has to do with

Tinubu to Open 2-day African Counterterrorism Summit in Abuja Today

African heads of state, UN's Mohammed to attend conference Ribadu, Voronkov to make remarks on day two

Deji Elumoye in Abuja

President Bola Ahmed Tinubu will on Monday declare open the two-day African CounterTerrorism Summit in Abuja. In a statement issued in Abuja on Sunday by presidential spokesperson, Ajuri Ngelale, Nigeria, with the support of the United Nations Office of Counter-Terrorism (UNOCT), is organizing a high-level African counter-terrorism summit under the theme, 'Strengthening Regional Cooperation and Institution Building to Address the Evolving Threat of Terrorism', in Abuja, from April 22 to April 23, 2024. Heads of state and government and high-level government officials across Africa, representatives of international organizations and multilateral institutions, members of the diplomatic corps, and members of civil society groups are expected to attend the summit. The United Nations Deputy Secretary-General, Ms Amina Mohammed will attend the

event while the National Security Adviser, Mallam Nuhu Ribadu and the Under-Secretary-General for Counter-Terrorism (UNOC), Mr Vladimir Voronkov are expected t deliver concluding remarks at the end of the summit.

The objective of the summit is to enhance multilateral counter-terrorism cooperation and reshape the international community’s collective response to terrorism in Africa, while emphasizing the importance of African-led and African-owned

solutions.

The summit will provide a platform to review the nature and severity of the threat of terrorism on the continent, with a view to agreeing on concrete strategic priorities and measures to address this scourge.

It will also foster deeper regional collaboration, enhancing the institutional capacity of member states and facilitating the exchange of best practices and knowledge to combat the multifaceted threat of terrorism in Africa.

Those Suspending Ganduje Are Imposters, Kano APC Insists

Ahmad Sorondinki in Kano.

The All Progressives Congress (APC) in Kano State, has described the recent suspension of the National Chairman of the party, Abdullahi Umar Ganduje, as another case of impersonation.

Speaking with journalists in Kano, yesterday, the state party Secretary, Ibrahim Zakari Sarina, said Mallam Basiru Isah Nuhu and others, whose names were used as the new executive members of the APC

in Ganduje Ward Dawakin Tofa, were impersonators trying to destroy the party. Sarina, insisted that those who recently suspended Ganduje were sponsored by some elements who were not legitimate executives in Ganduje Ward. “It is a case of impersonation still. They were also sponsored to come out and did it late evening on Saturday. We were called and told that this is what is happening.

“Some of them are party

members of the APC but, have never in any way been executives or held any position. Even the so-called chairman has never been an executive member of our party at any level," he said.

The crisis in APC took another twist after a new group emerged and addressed themselves as the executive members of the party in Ganduje ward, slamming a fresh suspension on Ganduje.

The group led by the secretary of the ward, Jaafar Adamu, yesterday, said 11 out of the 27

executive members of Ganduje ward were the legitimate ward exco legally elected on 31st July 2021.

But reacting to the development, Sarina said it was still a case of impersonation sponsored by some elements, who were not legitimate executives in the Ganduje Ward.

While acknowledging some of the said executives to be party members, he said they were not executives and did not hold any position in the party at any level.

electricity,” he said.

Farouk noted that navigational aids needed constant electricity and this has constituted a huge challenge, but to overcome it, NAMA was spending hugely to maintain three layers of power supply, from the grid, generators and solar power.

“What we have decided to do is to deploy solar energy to some of these facilities so that they can function well. We have two sources of power. We have the primary one which is the national grid and we have the second one which is generators, and plants and the third one is solar.

“We deployed all these three because ICAO (International Civil Aviation Organisation) frowns at a situation where you have a blackout even for seconds. So, we make sure that we have an uninterrupted power supply. The funding is not there.

“We are approaching it systematically to make sure that communication is good. At the moment, we have significant improvement but there is still room for improvement. Recently,

the Minister of Aviation, approached the presidency for intervention and N40 billion was budgeted but we are yet to access the money. As soon as it is done, we will be able to tackle safety critical challenges that are before us as far as communication is concerned.

“If you go to Navaids, we are also having obsolete facilities. For an average electronic system, the lifespan is about 10 years. Most of these electronics have been working for the past 15-20 years. You will expect the performance to be below the standard. We are replacing them.

“We have commenced replacement of all these facilities. If not for funding, we would have finished replacing all of them. But for now, we have done almost 80% but the contractors are still working.

“The level of patriotism in them is highly commendable. They have understood us and they are working hard to ensure that they complete the project. Here, we have the surveillance. This is where I have a serious challenge.”

France Expresses Willingness to Partner Nigeria in Arts Development

Michael Olugbode in Abuja

The French Government has shown interest in the Nigerian arts industry, expressing its willingness to collaborate with Nigeria in all areas connecting to that segment of the economy.

Speaking at the inauguration of the Nike Art Gallery exhibition, titled: "Harmony in Diversity,” at the Lycée Français Marcel Pagnol (French School) in Abuja at the weekend, the Chargé d'Affaires of France to Nigeria and ECOWAS, Jean Francois Hasperue, said Nigeria has great potential in all fields of art and was already a force to reckon with globally. He said: “We have already a lot of collaboration between artists. Nigerian artists and the French embassy. We are supporting and promoting artists in Lagos through different programmes.”

Hasperue noted that the French government was willing to assist in nurturing young artists in Nigerian in order to help them to start their activities and to be well known .

He said the French Embassy in Nigeria had been connecting French

artists and their Nigerian counterparts by inviting them to France to some festivals in very different kind of fields of art, be it cinema, animation, e-sports as well paintings.

He disclosed that France has different range of activities and partnership with Nigeria in art.

The envoy stated that Nigeria has no limitation in the arts. “Nigerians are great artists and they have proven it in the art market worldwide. They are quite at a high level,” he said.

He commended the French School in Abuja for its collaboration with the Nike Art Gallery, noting that it signifies all that France stands for in the area of art, and development young talents.

In his opening speech, the school principal, Mr. Alain Chassard, underscored the significance of the exhibition in fostering cultural exchange and collaboration between the French school and Nike Art Gallery.

He commended the efforts undertaken to familiarise the students with Nigerian arts, including immersive guided tours of the Abuja gallery, and expressed gratitude to all who contributed to the realisation of the cultural programme.

Battle For Soul of Kano Begins Ahead of 2027 Poll

The ongoing political battle between the National Chairman of the All Progressives Congress, Dr. Abdulahi Ganduje and the Kano state Governor, Abba Yusuf goes beyond corruption allegations but a fight for the soul of the state ahead of the 2027 general elections. Adedayo Akinwale reports

This might not be the best of times for the National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Ganduje who was recently suspended by the executives of his Ward in Dawakin Tofa Local Government of Kano State.

The decision of the ward executive to stir the hornet’s nest last Monday ensured that the seeming peace enjoyed in the governing party was brought to an abrupt end.

Ganduje’s ward executive had accused him of gross misconduct and misappropriation of public funds during his administration in the state.

For those who have followed the political development in Kano state for a while now, it won’t be too difficult to decipher that the political unrest in the state was a continuation of the political battle and animosity between two former political associates.

For the eight years that Ganduje piloted the affairs of the state, it was a battle royale between him and his erstwhile boss, Senator Rabiu Kwankwaso. Even for some years, Kwankwaso could not come to Kano while Ganduje was governor.

However, since the New Nigerian Peoples Party (NNPP) government in the state led by Abba Yusuf, who happens to be an in-law to Kwankwaso, took over power, things are no longer at ease politically in the ancient city. He had taken the baton and renewed the rivalry between Kwankwaso and Ganduje.

It would be recalled that Yusuf had in his inaugural speech directed law enforcement agencies to immediately take over all land and property allegedly sold to “cronies and agents” of the Ganduje-led administration.

Within 72 hours of the directive, bulldozers were out in force, pulling down structures. Property demolished included a three-storey complex with 90 shops near the Nasarawa GRA, the three-star Daula Hotel reconstructed by the Ganduje administration under a Public-Private Partnership arrangement, a building at the Hajj Camp, and a complex of shops at the Kantin Kwari textile market. An NGO estimated the value of the destroyed property at over N200 billion.

Against this background, it was clear from the onset that Yusuf was on a mission, which was to incapacitate Ganduje politically and also decimate the APC ahead of the 2027 general election.

Surprisingly, Yusuf rolled out more arsenals last Monday when news filtered in that Ganduje was suspended by his Ward executive.

Although, both the ward and local government executives have dissociated themselves from

the purported suspension of Ganduje when they paid him a courtesy visit last Wednesday at the national headquarters of APC in Abuja, the damage was already done.

It was glaring that those used to send shock waves into the ruling party were sponsored by the Kano state government and they did the job perfectly if the recent events at the ruling party are anything to go by.

While APC was still nursing the wound, Kano State High court last Wednesday affirmed Ganduje’s suspension. The judge, Usman Na’Abba, granted an ex parte order restraining the party’s national chairman, Ganduje, from parading himself as a member of the party.

Subsequently, the court ordered Ganduje to desist from presiding over all affairs of the APC’s National Working Committee (NWC).

Ganduje in his reaction to the court order affirming his suspension accused NNPP-led Kano State Government of being jittery over the rising electoral profile of President Bola Tinubu in the state.

He noted: “They are so concerned that we are battle ready to take over the government come 2027. They are so concerned that we got the second highest votes for Mr. President and that

we will get even higher in order to ensure that 2027 is a walk over.

“Their motive is to create confusion in our party so that we won’t have the courage and mind to take over the government of Kano and to also ensure that our president does not have intimidating votes from Kano State. Their intentions will fail.

“We want to assure Mr President that our party in Kano State is intact. It is solid. It is battle ready in order to give the highest votes to Mr President.”

The embattled party chairman described the development as a new destructive phenomenon, saying the APC leadership would ensure that the impersonators are punished.

According to him, this is a new destructive phenomenon in democracy which should not be allowed to thrive, if elements of another political party could sit down and claim that they are executive members of another political party I think this should be checked even by security agencies.

Not resting on its oars, the ruling party in a counter move petitioned the National Judicial Council (NJC) demanding a review of the court order issued by Justice Usman Na’abba against Ganduje.

Similarly, the National Legal Adviser of the party, Prof. Abdulkarim Kana said: “We don’t know where all this is coming from, our preliminary investigation shows that there is fraud. A typical 419 situation here.

“And unfortunately, they’ve also gone too far

“While APC can make an in-road into Rivers State with the help of the Minister of Federal Capital Territory (FCT), Nyesom Wike, Ganduje is much more needed to balance the equation and to make sure the footing of APC is maintained in the state. In as much as Kwankwaso remains in NNPP and with the hope he doesn’t defect to the Peoples Democratic Party (PDP), just as it was witnessed during the 2023 polls, he would neutralise the PDP’s plan of reclaiming the state, while the ruling party focuses on winning other states in the North West. It would therefore be counter productive for the ruling party to trade Kano for Rivers, which has the highest voting block in Nigeria. If there is a time that Ganduje needs the support of Tinubu more, it is now and the President is more politically savvy and won’t be expected to throw his longtime ally under the bus at this time.”

by taking the fraudulent documents circulated to all of you. We’re also hearing this afternoon that they use the same for the document to go to court to obtain an order of the court. We haven’t seen the order, but we have heard about it.

“Whatever order that will emanate from such a document, and all of us know, even a 100 level law student will tell you that an order obtained by fraud is an unlawful order. It will not be enforceable,and it will not be recognised and it will not be respected.”

In continuation of the legal fireworks, another High Court court in Kano has ordered that the suspension of Ganduje from APC be halted. The judge, A.M Liman, said the purported suspension should not be implemented until the case is heard and determined.

“That all the parties are hereby mandated to maintain status quo before the purported emergency meeting of the alleged executive members of APC Ganduje Ward, and to stay action in respect of this matter pending the hearing and determination of the substantive application,” Justice Liman said.

The judge subsequently fixed April 30 to hear Ganduje’s appeal.

Meanwhile, a former National Vice Chairman, North-west of the party, Dr. Salihu Lukman, has called on Tinubu and other party leaders to settle the feud between Kwankwaso and Ganduje.

He said: “If this means another round of negotiation for political alliance or merger with Senator Kwankwaso and NNPP, our leaders should proceed to act accordingly.”

Expectedly, some elements within the ruling party have seized the opportunity to call for the resignation of Ganduje.

While in the midst of the drama, a group of protesters under the umbrella of APC Youth Solidarity Network (APCYSN) stormed the National Secretariat of APC in Abuja to caution the party against the legal implication of Ganduje conducting the forthcoming Ondo State governorship primary election.

The group in a petition jointly signed by the Convener, Danesi Momoh and and CoConveners, Abdulkadir Shuaibu and Adeyeye Olugbenga, insisted that Ganduje lacks locus standi to conduct the primary as that could spell doom for the party in the long run.

Be that as it may, analysts believe that the political battle going on in Kano state between Kwankwaso, Yusuf on one hand and Ganduje on the other hand was purely a fight for the soul of the state ahead of the 2027 polls.

Yusuf

Kwankwaso

Ganduje

Nigerian Navy’s Fleet Recapitalisation as Boost for Blue Economy, Combatting Maritime Threats

In accordance with its fleet recapitalisation drive, the Nigerian Navy recently took delivery of an Offshore Patrol Vessel, OPV, and an Offshore Survey Vessel, OSV, from Turkey and France, respectively. While the first one from Turkey is a 76-metre High Endurance OPV to combat maritime threats, the second from France, a 35-metre 115 OSV would boost the efforts of Nigerian Navy Ship LANA, the nation’s first hydrographic vessel, to chart the course of Hydrography and optimise the functionality of Nigeria’s Blue Economy

Although 70 per cent of Nigeria’s economic growth lies on the waterways, the maritime domain is often fraught with the challenges of maritime illegalities ranging from piracy, sea robbery, smuggling, illegal fishing to crude oil theft and others.

To tackle this, the Nigerian Navy (NN) has had to patrol the endless miles of waterways despite some major challenges like shortage of Offshore Patrol Vessels (OPV), budget constraints, inadequate local ship building capacity for constructing naval vessels and inadequate surveillance.

Asides protecting Nigeria’s territorial integrity, the NN also contributes its quota at the regional level, by patrolling the waters of the Gulf of Guinea (GoG) which is a vast expanse of water stretching almost 6,000km from Senegal to Angola.

But today, some of these challenges are gradually becoming a thing of the past especially when it comes to fleet acquisition, surveillance and ship building capacity.

Just recently, in line with its fleet recapitalisation drive, the NN took delivery of an OPV and an Offshore Survey Vessel, OSV, from Turkey and France, respectively. While the first one from Turkey is a 76-metre High Endurance OPV to combat maritime threats, the second from France, a 35-metre 115 OSV would boost the efforts of Nigerian Navy Ship LANA, the nation’s first hydrographic vessel, in charting the course of hydrography.

COMBATTING MARITIME THREATS WITH NEW 76-METRE HE OPV

Just last week Friday on April 19, 2024, the NN launched a 76-metre High Endurance (HE) Offshore Patrol Vessel (OPV) built for the Nigerian Navy (NN) in DEARSAN Shipyard Turkey, to boost maritime security.

The launch was graced by the Minister of state for Defence, Dr Bello Muhammed Matawalle; the Chief of the Naval Staff (CNS) Vice Admiral Emmanuel Ikechukwu Ogalla; the Charge D’Affair, Nigerian Embassy Turkey, Ambassador Zayyad Habu Abdulsalam and other dignitaries.

According to the Director of Information (DINFO), Commodore Aiwuyor Adams-Aliu, with crew capacity of 47 and endurance of 16 days (which means that the vessel can stay for such long at sea without berthing to refuel and restock), the general specifications of the newly launched OPV include length of 76.90m;

width of 11.90m; draught – 3.60m; speed of 28knots; Propulsion System – Combined Diesel and Diesel (CODAD); and range of 2500 nautical miles.

While the ship was launched by the First Lady, Senator Oluremi Tinubu, last Friday, it brought memories of the first OPV built by the same DEARSAN Shipyard that was launched on October 26, 2023.

According to the CNS, the launch of the 76m OPV marks a significant milestone in Nigeria’s commitment to safeguarding her territorial waters and combating maritime threats.

Speaking further, the CNS noted that the construction of the 2 x OPVs commenced in 2022, adding that uaf he was particularly pleased that the milestones on the vessel

construction have been met.

He said: “The construction of the vessel will boost NN fleet renewal efforts for fulfilment of her constitutional mandate and ensure maximum presence at sea to curb illicit acts such as oil theft, piracy, sea robbery, illegal fishery as well as smuggling of Small Arms and Light Weapons among other crimes in the vast 84,000sqnm of Nigeria’s maritime environment.”

While adding that it would “also facilitate harnessing the enormous potentials within Nigeria’s maritime domain in support of FG’s Blue Economy initiatives”, the CNS further expressed sincere gratitude to the President, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency, Bola Ahmed

Tinubu, GCFR, for his support towards ensuring the completion of the construction of the OPVs and his commitment to NN fleet renewal aspirations.

He also extended his appreciation to the Special Guest of Honour the First Lady of Nigeria Senator (Dr) Oluremi Tinubu CON for accepting the invitation to perform the age long naval tradition of launching a ship into water for the first time, a role often reserved for female leaders.

WITH NEW OFFSHORE SURVEY VESSEL, IT’S BOOST FOR HYDROGRAPHY

In another move towards optimising the functionality of Nigeria’s Blue Economy, the NN took delivery of a state-of-the-art OSV recently. A French shipbuilding company OCEA SA, successfully delivered the cutting-edge OSV 115 vessel to the NN in Apapa, Lagos on April 17, 2024.

According to Commodore Adams-Aliu, the OSV 115, designed and manufactured by OCEA SA, is a 35-metre vessel built for scientific hydrographic and oceanographic missions. “Equipped with progressive technology, including medium/shallow water multi-beam echo-sounders and other essential survey equipment, the vessel is primed to conduct in-depth surveys in shallow and medium waters.

This latest addition to the NN fleet will operate in tandem with the OSV 190 “NNS LANA,” also built and delivered by OCEA in 2021. The primary role of the new vessel is to conduct hydrographic and oceanographic surveys, supporting the ongoing NN efforts to safeguard Nigerian territorial waters and optimise the current administration’s Blue Economy initiatives.

“It should be recalled that the NN commenced local production of internationally recognised nautical charts in 2019 and the newly acquired OSV will further improve NN hydrographic charting proficiency. The delivery of the OSV 115 vessel comes with comprehensive support services, including training, spare parts, tooling, and necessary documentation, ensuring seamless integration and operation within the Nigerian Navy’s fleet.

“The CNS remains grateful to the President, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency, Bola Ahmed Tinubu, GCFR, for his unwavering support to the NN in her fleet renewal aspirations.”

First Lady, Senator Oluremi Tinubu and the Chief of Naval Staff, Vice Admiral Ikechukwu Ogalla, at the launch in Turkey, last week

The newly acquired Offshore Survey Vessel to boost hydrography

The new OPV launched by the Nigerian Navy to combat maritime threats

HAFIZ BAKARE urges government to keep doing the right things

POSITIVE SIGNALS IN THE ECONOMY

The reactions of some of our compatriots to the rebound of the naira after the initial turbulence can be typified by the Yoruba saying: “Ajanaku koja mo ri nkan firi, t’a ba r’erin e je a pe a r’erin”. This is roughly translated as follows: “An elephant is too massive in size and majestic in strides for anyone to simply claim to have seen “something” fleetingly in a split second. If we have seen an elephant, let’s be honorable enough to admit that we have seen an elephant”!

There is obviously still a lot to be done in many areas but the skepticism of some of us is bewildering. The same people complaining sometime ago are struggling to acknowledge clear progress when confronted with it, almost as if they never wanted a solution in the first place! And for most of them, that is the truth that is quite difficult to hide now given the reactions.

Even those who claim to be neutral as policy analysts have resorted to the clever point of view that there is nothing to acknowledge in a government correcting its mistakes because it was the policy and/or implementation missteps that worsened the economy significantly in the first place. Indeed, that it’s only when the exchange rate gets back to pre-May 2023 level of N700/$1 that they can accept that the government is just starting!

This argument refuses to put our situation in context. If a man has been able to take care of his family for a long time simply because he has been irresponsible in borrowing money all over the neighborhood and brazenly defaulting over the years, the family would be inconsiderate to expect that things must remain the same initially when he decides to stop living a false life and enhances the credibility of his family by meeting his obligations to his debtors. A counter narrative to this by some of our people is that he shouldn’t have done everything to clean the slate of his obligations all at once and should have sequenced implementation just like the observations made about the government.

But from events in the last couple of months, while there are always areas for improvement, it is obvious that the sequencing which has been much touted as a sure way to have lessened the pain might not really have changed the course of events. What we saw in reaction to the twin policies of fuel subsidy removal and floating of the currency was extreme opportunistic behavior by some of our citizens and in many cases outright sabotage riddled with malice as many refused to move on after the last election. This behaviour was pervasive among a number of citizens resident in Nigeria and abroad including collusion by institutions.

Sequencing would not necessarily have dealt with this and government perhaps in good faith initially underestimated the extent of opportunistic tendency of individuals and institutions (including

some of the banks unfortunately) in both the private and public sector as well as the extreme malicious intent of those who would rather the country failed if their candidate was not in the saddle. Once government realized the extreme nature of the citizens’ reactions along these two dimensions of opportunism and malice/sabotage, decisive steps taken with ruthless efficiency have resulted in the progress we are experiencing. That is the context that should not be ignored!

When the CBN first started involving the EFCC and NSA after realizing what the country was up against with respect to Binance and BDCs as well as even banks, many of these analysts (naively or otherwise) and those citizens who knew that their game was about to end, criticized the involvement of law enforcement as a pointer to the “incompetence” and “cluelessness” of the CBN and the administration, wondering how law enforcement could be expected to play any role in matters that were perceived strictly in the realms of monetary policy!

We all know that virtually everything in Nigeria depends on the exchange rate which is what also drives domestic inflation. There was ample evidence that apart from the manipulation from BDCs and the Binance platform, pressure on the exchange rate was also driven considerably by many of our public officials who were taking the extra allocations they had been getting since the removal of subsidy (because the constitution compelled the Federal Government to share based on an agreed formula) to BDCs for dollar exchange at any rate available. Rather than the masses benefiting from the increased allocations since June 2023, the people felt little or no impact despite empirical evidence of significant increase in FAAC allocation to states and the Federal Government.

The relatively high increase in interest rate along with the scrutiny on BDCs and Binance was therefore meant to discourage the undue focus on forex by those with excess naira to “invest” and direct their attention to naira based investment. Since the rate hike, we’ve seen the effect as most investors have shifted to take advantage of high Treasury Bills rate in the local market, leading to over-subscription. The effect is also being felt in the stock market which has dipped considerably as investors continue to take advantage of high rates in the local money market. There is a disincentive to keep investing in dollars with the DSS, EFCC and NSA scrutiny on BDCs when you can lock in high rates in naira.

The cumulative effect of this has been the steady appreciation of the naira against the dollar and a much desired pause in the pervasive hopelessness before the rate hike and other co-ordinated policy measures from CBN including the collaboration with law enforcement. It would ultimately calm domestic inflation as we are gradually seeing signs of prices dropping here and there even though there is usually a lag period for optimal effect in terms of lower inflation numbers as well as reduced cost of living.

This wasn’t a result of “burning foreign exchange reserves to defend the Naira“ as some of our biased and ill-informed Nigerian writers in Bloomberg and similar organizations would have us believe, because the reserves were utilized mainly to clear fx backlogs with some debt service and very little channeled into the market.

Bakare, a Banker and public policy analyst, writes from Lagos.

The military has made so much gains in the war against the insurgents, reckons AHMAD SAJOH

WAR ON INSURGENCY

Nigeria seems suffused with so much activity that many have not noticed the recent gains made by the military against insurgents. Giving a breakdown recently, Major-General Edward Buba, Director of Defence Media Operations, said that in the first quarter of 2024, “We have employed significant firepower to neutralise several terrorists and disrupt their activities. Indeed, significant terrorist commanders killed include and are not limited to the following: Abu Bilal Minuki (aka Abubakar Mainok)-Head of Is-Al Furqan Province (ISGS and ISWAP) and Haruna Isiya Boderi, who was described as “a notorious terrorist who operated along Birnin Gwari forest in Kaduna State as well as the Abuja-Kaduna Highway.”

This decapitation of the operational command of the insurgents also extended to Kachallah Damina, Kachallah Alhaji Dayi, Kachallah Idi (Namaidaro), Kachallah Ubangida, Alhaji Balsu, and 50 otters who terrorised the northwestern part of the

country. There have been further victories since then with Damana Hanun Giwa, Ali Kawaje, Yallo Nagashi, Maikusa Katsina, Sai Dangote and others eliminated by the troops, in what had been hailed as a major victory. Between January and March 2024, 2351 terrorists were killed, 2, 308 persons arrested and 1241 kidnap hostages rescued. Significant also is the report that a substantial amount of armoury has been seized from the insurgents, including 2,847 weapons and 58,492 ammunitions.

The military also showcased gains in the battle against bunkers and economic saboteurs resulting in the recovery of millions of stolen crude, diesel, kerosene and petrol.

Given that the current political and military leadership have been in office for less than a year, the results are indeed heartwarming that Nigeria may soon see the back of its insecurity challenges. Credit for this certainly goes to President Bola Tinubu who has, as it were, appointed a focused defence team under the leadership of Mohammed Badaru Abubakar, Minister of Defence. In this position, he doubles as the coordinating Minister for National Security, along with a new crop of service and intelligence chiefs. Badaru-Abubakar has delivered the President's mandate to the security forces and in a quiet, unobtrusive manner, presided over a turnaround that has delivered results.

When he and his colleague, the Minister of State, resumed barely eight months ago on August 22 at the Ministry’s headquarters, Badaru told his audience, the top brass of the military at his inaugural meeting with them, that the days of having military campaigns without firm timelines were gone, echoing the concerns of Nigerians in the last few years since the uptick in the insurgency that there must be a clear timeline for getting the few remaining places still troubled by terrorists back to normalcy.

The minister charged the service chiefs to give him a timeline and their requirements to solve Nigeria’s security challenges, stating emphatically,

"This timeline and target will be passed on to the president. The president is ready to give us all the needed support to achieve success because he is an achiever and doesn’t have the patience for failure. For the sake of our country, we know that without security, there will be no investment, and without investment, there will be no economic growth.”

He promised to change the narrative and the evidence seems to bear him out. Aside from the provision of equipment and motivation of the troops, it would seem that there is more inter-agency cooperation among the armed forces, a point Buba, the head of the military’s media operations, made in his press statement.

According to the Report on Quarterly Review of Joint Task Force Operational Activities, the victories were due to the effective synergy of joint operations of the country’s security assets. According to Buba, they “were achieved through synchronised strikes between ground and air forces on terrorist enclaves.”

The emphasis on joint operations and effective collaboration among the forces is one that Badaru-Abubakar has pushed since he assumed the headship of the Defence portfolio. He reemphasised that point recently at the Air Power Consult Senior Leadership Forum on Emerging Trends and Threats in the Battle Space and their impact on the employment of Airpower.

According to the Minister, no modern conflict can be successfully prosecuted using only one element of national power, adding that: “In reality and concomitant to this reality is that, in the use of the military element of national power, no single service can hope or expect to successfully overcome the modern hydra-headed complex conflicts. Therefore, we need to move away from paying mere lip service to something as fundamental to our success as a sector as Jointness. We are using it in our training; we must adopt it in our operations. The Ministry of Defence will continue to enhance jointness within the armed forces, building upon the existing collaboration and cooperation that has been a hallmark since the inception of the present administration.”

The new verve he has brought to defence operations bears recalling the essential BadaruAbubakar. When he was appointed Defence Minister, surely some felt a civilian in that portfolio was a poor choice. Yet, his record on security as the immediate past Governor of Jigawa State is stellar. Though not much known because of his self-effacing demeanour to his public duties, it is important to state that Jigawa, a state in the northwestern region which is challenged by banditry and terrorism, was one of the most peaceful compared to neighbouring states, with negligible reports of bandit activities on account of Governor Badaru-Abubakar’s proactive steps while in office. Badaru has taken that quiet approach to his job, preferring to let the successes speak for his behind-the-scenes leadership where he meets military top brass and other defence allied agencies to draw and follow up plans to achieve the administration’s objective that no section of the country will be held captive by insurgents and bandits. Nigeria is certainly not out of the woods but the signs are good and encouraging.

Mallam Sajoh writes from Abuja, can be reached at aisajo2@gmail.com

The proposed national identity card is one too many

For more than a decade, Nigerians have repeatedly been asked to provide their biometric data for some forms of about the time, money and energy being three new national identity cards, subject to the approval social programmes including cash transfers, and an technical adviser, media and communications, holders to prove their identity, gain access to government stated that the target is to provide about148 million to eliminate the duplication which has continued unabated with every government agency taking the same biometric data of citizens and residents without

their biometrics, some of which clearly bordered on where more than 100 million Nigerians biometrics basic identity infrastructure that would be available decade of operations it is apparently yet to deliver on

After more than a decade of operations NIMC is apparently yet to deliver on its full mandate - harmonising biometric data in Nigeria into the National Identity Database

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

As things stand, the government and private ventures are still incurring to all commercial deposit banks across the country to policy involved capturing customers’ biometric data for captured cannot be fed into a central database for further recently, public anxiety was raised with reports of some

CHALLENGES FOR NEMA'S NEW LEADERSHIP

Nigeria grapples with a complex web of emergencies,

securing better funding and optimizing resource alloca Also, multiple agencies play a role in emergencies, but lack of clear protocols and communication gaps can between various response agencies lead to delays and in

Another challenge is that public awareness and pre paredness for emergencies remain low, making com education campaigns can be used to empower commu communities about potential hazards and fostering a cul ture of preparedness give citizens the opportunity to play

collection and analysis hinder proactive measures and

velop an accurate and reliable data on risks and vulner

local governments and communities with resources and training to allow for faster initial response and reduce

straints, streamlining communication, and prioritizing

Nigerians deserve a future where emergencies are met with immediate, coordinated action – a future where

Mukhtar Jarmajo, Wuse 2, Abuja

POLITY

The Debt Conundrum in Kaduna, as Debt Overhang Rears its Ugly Head

Ayoola Ajanaku

“The bad workman always blames his tools”Our success or failure is determined not by what we have to work with, but by how we employ what we have....

The dust is yet to settle following the abduction and release of 137 school children from Kuriga School nestled in Chikun LGA earlier when the bombshell was dropped on Kaduna State’s debt portfolio and it’s near impairment to meet salary obligations. For any third party observer this was a colossal digression from the issues at hand during the Town Hall meeting anchored by the helmsman of Kaduna State, Senator Uba Sani while he was sandwiched by the Deputy Governor, Dr. Hadiza Sabuwa Balarabe and other top government functionaries at the Kashim Ibrahim House.

This latest “dramatis personae” revolves around Senator Uba Sani’s alarm that his administration inherited a huge debt burden of $587 million, N85 billion, and 115 contractual liabilities from the previous administration of Mallam Naira El-Rufai, making it difficult for him to pay workers’ salaries now.

He, however, said that despite the humongous debt burden on the State government, he was yet to borrow a single kobo in the last nine months of his administration. He, however, assured that the debt burden not withstanding, his administration remained resolute in steering Kaduna State towards progress and sustainable development, as the government has conducted a thorough assessment of the situation and it was sharpening its focus accordingly.

According to the governor, “despite the huge debt burden of 587 million Dollars, 85 billion Naira, and 115 Contractual Liabilities sadly inherited from the previous administration, we remain resolute in steering Kaduna State towards progress and sustainable development. We have conducted a thorough assessment of our situation and are sharpening our focus accordingly.

“It gladdened my heart to inform you that, despite the huge inherited debt on the state, till date, we have not borrowed a single kobo.

Recall that the immediate-past Governor Nasir El-Rufai had said he left a domestic debt of N80.60bn and a foreign debt of $577.32m for his successor during his handover to the new govenor last year.

El-Rufai also said as much that he left N5bn and $2.05m in the state treasury to a teeming audience when he handed over the reins of power to his

Gov. Sani

successor much earlier.

For starters, it would take a Houdini act for Senator Uba Sani to extricate himself from the actions and locomotion of Mallam Nasir El-Rufai as Kaduna’s erstwhile helmsman.

Firstly, as Special Adviser, Political Affairs then as Senator representing Kaduna Central senatorial district from 2019 to 2023. Uba Sani was a bulwark that worked tirelessly to ensure the said World Bank 350 million US dollars credit facility came to fruition following the opposition to this development much earlier by the trip of Senators Shah Sani, Suleiman Hunkuyi and Danjuma La’ah. The kernel of this submission will come back to this window later. To garner contextual and editorial alignment, this author seeks reference to Uba Sani’s tweets via Twitter then (now X) on 4th February 2020 where he joined his distinguished colleagues in the Senate Committee on Local and Foreign Debts to receive submissions on loan requests from a high powered delegation from KDSG and honourable ministers.

Furthermore, he stated therein that Senator Clifford Order painstakingly went where through the requests and sought for clarifications where necessary. Questions asked centered around the

purpose for the loans, impact on the people and economy, repayment plan, and sustainability. In his own words, he also added that officials of KDSG put up a strong defense in respect of the $350 million World Bank loan request aimed at addressing infrastructure challenges in critical areas such as education, security, and healthcare.

He wrapped up his treatise that he was confident that with the articulate presentation from KDSG officials and their responses to questions asked, the Committee would have no hesitation in recommending to the Senate for approval to the loan request.

It beat’s one’s imagination when Uba Sani makes such a pronouncement in public domain. The question that’s begging for answers is why not frown at such landmark decision(s) when it was at its embryonic stage. Why wait until when all is said and done to aim at the underbelly of a decision where he was a player, actor and integral entity.

Love or hate Mallam El-Rufai, with the benefit of hindsight he had premonition on this latest development either by clairvoyance or gut feeling. In his handover speech to Senator Uba Sani on 29 May 2023, he stated: “My friend and brother, I commiserate with you. You have a huge task ahead of you, but I am confident you will be luckier in the next eight years than I have been in the last eight years. Remember you cannot do this job alone. Your team, if competent and capable, will focus on delivering results and little ease. If you are unlucky enough to choose people you like that have no capacity, they will resort to blaming every other person for failures than the real culprit, which is the team itself. Be careful and watch out for this”.

Alas, before the eyes of all and sundry, the doomsday prediction is playing out before our very eyes. If a predecessor in a open, fair and transparent manner elucidates and articulates on touch points of public accounting in public domain then the onus is on the successor to leverage on such learning curves going forward to achieve development via the HDI index. Now is the time to appoint round pegs in round holes to address the accounting and budgetary deficits of KDSG. Primordial tendencies should be dumped like a bad habits when it comes to financial engineering to balance the books.

At this juncture, this author will be subject to

poisoned darts and vitriol of the governor’s armada of Vuvuzela’s and hallelujah boys who sing his praises whether he’s right or wrong. The hard truth still remains that how does a sub-national entity that spent about 11.8 billion Naira on palliatives last week claim to be broke and unable to pay salaries? How can a sub-national entity embark on building an event centre worth 7 billion Naira within the confines of power claim to be broke? It should be amplified for whoever cares to listen that it’s a security threat in the scheme of affairs. The debt portfolio of KDSG is no secret; it’s in public domain as Mallam El-Rufai stated these accounting obligations in black and white at Murtala Square much earlier. Like the old mantra that states: “Governance is a continuum” - The encumbrance is on Senator Uba Sani to verify claims of contractual obligations and settle the said contractors. The debt servicing benchmarks can be regineered by well-grounded financial experts, while the revenue base of Kaduna State can be broadened via stimulation of Kaduna State Investment Promotion Agency (KADIPA) initiatives to earn the requisite FDI’s.

Now is the time to start the real work, as the clock is ticking, tick tock, tick tock. This can be engineered via cabinet reshuffle where capable, tried, tested and well trusted hands are incorporated to achieve KPI’s and OKR’s, while deadwood can kiss governance goodbye. The one-year in office anniversary is under our nose and the jury will be out in full force that Mr. Governor - What have you achieved in terms of democratic dividends. The demonization and criminalization of debt portfolio that appears to be judiciously implemented for infrastructural projects is beyond beggar’s belief.

This author will not import words, comments, innuendos, aspersions, slurs and the storm of reactions that this development has generated since the announcement was made during the weekend. A word is enough for the wise as they say. One does not need to go far or wide to digest lessons on sub-national development. The second highest liabilities accrue to Lagos State after the Federal Government of Nigeria, yet there’s no fuss about it as the said credit facilities are serviced as at when due and governance is running smoothly therein. On a broader scale, the largest economy in the world, the United States of America carries a budget deficit of over 22 trillion US dollars - Now go figure it out.

•Ayoola Ajanaku is a Communications and Advocacy Specialist based in Lagos.

UK Consultancy Firm Guides Nigerian Leaders on Winning Amid Uncertainties, Crises

Amidst skyrocketing costs and high currency risks, senior leaders require tailored winning strategies to navigate uncertainty effectively and successfully.

The United Kingdom-based leadership development organisation TEXEM UK is set to empower individuals and Nigerian organisations to thrive in these volatile times.

As we all know, optimised strategic leadership core competence is a veritable source of valuable resources that is difficult to imitate. Also, with a massive staff exodus and geopolitical disruptions, senior leaders must possess exceptional crisis management skills to position their organisations for success.

Towards this end, the organisation is bringing Prof. John Peters, former chairman of the Association of MBAs in the UK, to Lagos on April 24 for a programme tagged ‘Strategies For Sustainable Organisational Success’. This programme will equip participants with the leadership capabilities to lead through crises and ensure organisational excellence despite adversity.

‘Innovation for Profitable Growth’ is also another resource that is very valuable and imperative in turbulent waters. This programme fosters a culture of innovation and provides practical guidance on harnessing adversity as a catalyst for profitable growth. Participants will learn to turn challenges into opportunities, driving sustained profitability for their organisations. In a volatile business landscape, resilience and effective risk management are crucial. Through interactive sessions and case studies, this programme would help senior leaders develop unshakable leadership qualities, enabling them to navigate uncertainty and

mitigate risks effectively and confidently.

In a recent interview, TEXEM’s Director of Special Projects, Caroline Lucas, told the News Agency of Nigeria that the programme is tailored for senior executives and organisations to optimise individual, team and organisational performance.

“Participants will learn practical skills and actionable insights from the eminent TEXEM faculty and gain valuable insights from their

professional exchange with critical partners and colleagues. This programme aims to help develop leadership strategies to drive optimum performance for success in an era of uncertainty.

“Its focus is to help the participants develop a clearer understanding of how to manage and deploy the available resources more efficiently for optimal impact in volatile times,” Lucas said.

She said TEXEM’s tested and proven methodology, comprising case studies, will be deployed during the programme. Lucas said this would encourage participants to enhance their cognitive skills, improve their analytical rigour and evaluation skills, and assist them in better managing ambiguity.

Speaking on impact, she said at the end of the programme, participants will be able to develop leadership skills that will assist them in making better decisions.

Lucas added that they would possess survival skills that would enable them to pull out their organisations during emergencies.

“Among the benefits participants will take away from this impactful programme is that for individuals, it will unlock your potential in adversity, lead through transformation, and achieve profitable growth.

“As for organisations, it will turn their challenges into opportunities, foster innovation, and drive sustained profitability. The programme is strategic because adversity is the mother of innovation. The programme empowers individuals and organisations to thrive in volatile times, fostering innovation and sustained profitability,” the TEXEM director said.

Lucas said TEXEM has collaborated with leaders and organizations in Nigeria and other African countries to produce the best leaders in governance and business. “Through our services, we have collaborated with hundreds of organisations in the UK and Africa and helped them achieve their goals efficiently and effectively to overcome adversity and achieve prosperity,” she added.

This impactful programme will help unlock potential in adversity, empower them to lead through transformation and equip them with the ability to develop strategies to achieve profitable growth for individuals and their organisations by enabling participants in, firstly, optimising resource utilisation: With the cost of resources soaring, it’s essential for organizations to optimise their resource utilization. This programme offers insights on managing and deploying available resources more efficiently, ensuring optimal impact even amidst cost pressures.

Secondly, strategic decision-making: Decisive problemsolving is paramount in today’s environment. Through peer-to-peer learning and observation practice, this programme enhances participants’ decision-making capabilities, empowering them to make better decisions that drive organisational success.

Lastly, networking and professional exchange: Beyond the curriculum, participants will have the opportunity for professional exchange with critical partners and colleagues. Networking with industry peers enhances learning and provides valuable insights into different approaches to overcoming challenges, enriching the overall learning experience.

For more information, visit texem.co.uk or email exec@texem.co.uk

John Peters

Caroline Lucas

BUSINESS WORLD

Despite Economic Challenges, 17 Insurance Firms’ Profit Up 238% to N98.33bn

Kayode Tokede

The stellar peformance recorded by players in the financial service sector in 2023 despite economic upheavals extended to the insurance sector as 17 insurance companies listed on the Nigerian Exchange Limited (NGX) generated N98.33 billion profit before tax (PBT) in 2023, a 238 per cent increase from N29.07 billion reported in the 2022 financial year.

However, the companies have not announced their audited result and accounts for the period ended December 31, 2023 to the investing public, contributing to delayed dividend payout to shareholders and dwindling insurance index performance on NGX.

But most of the companies have written to NGX on delayed audited accounts, citing challenges

Gilbert Ekugbe

Maritime stakeholders have expressed concerns over Nigeria’s inability to take advantage of the $14 trillion global shipping industry.

The immediate past President, Ship Owners Association of Nigeria (SOAN) Dr. Mkgeorge Onyung, at SOAN’s inauguration of its new executive council members in Lagos, said Nigeria is lagging behind among its contemporaries to tapping into the trillion dollar shipping industry, stating the urgent need to deploy the use of the cabotage fund to unlock

associated with the implementation of the International Financial Reporting Standard 17 which require several changes in the disclosure methods.

The deadline for filing audited December 31, 2023 was at March 31, 2024, the National Insurance Commission (NAICOM) has obtained, a general approval for an extension of the time for submission of the accounts on behalf of the insurance companies.

Specifically, the NGX Insurance Index has dropped Month-till-Date (MtD) to 5.99 per cent as of April 19, 2024 as most paying dividend insurance companies recorded significant profit-taking on the bourse.

Analysis of the underwriting firms’ results showed that NEM Insurance, Cornerstone Insurance, and Axamansard Insurance Plc

Nigeria’s economic fortunes in the global shipping industry.

Also speaking, the immediate past Executive Secretary of the Nigerian Shippers’ Council (NSC), and the Chairman of the National Fleet Implementation Committee, Mr. Hassan Bello, stated that Nigeria could earn over $9.1 billion annually from freights. Bello who also doubled as the Chairman Inauguration Committee, called on the federal government and stakeholders in the maritime industry to increase their level of collaboration to achieve the enormous task of making Nigeria

reported significant increase in PBT amid significant increase gross written premium.

Coronation Insurance Plc and Guinea Insurance Plc were the only two insurance companies that migrated from losses in 2022 to profitability in 2023.

In its unaudited 2023 results, NEM Insurance posted N20.79 billion profit before tax, a growth of 252 per cent from N5.9 billion reported in 2022 financial year, while profit reached N18.5 billion in 2023, an increase of 252 per cent from N5.25 billion declared in 2022.

The growth in NEM Insurance PBT and profit is on the backdrop of N62.95 billion gross written premium in unaudited 2023 financial year, representing nearly 89 per cent from N33.4 billion reported in 2022 and N10.78 billion

a force to reckon with in the global shipping space.

“We must work for this and indeed it is an enormous task which would require government support too. I will advise SOAN not to wait for the government,” he advised.

He pointed out the need for having an effective participation in international trade, maintaining that 90 per cent of international trade is done via the sea through the use of ships.

“We have been missing in action and that is the whole issue. We need to be unequivocal and deliberate

foreign exchange gain in 2023 from N296.74million declared in 2022.

Meanwhile, Cornerstone Insurance, declared N18.05 billion PBT in 2023, a growth of 518 per cent from N2.92 billion in 2022, while Axamansard Insurance in 2023 declared N17.9 billion PBT in 2023 unaudited, representing a significant increase of 402 per cent from N3.6 billion in 2022.

Despite challenges posed by the macroeconomic environment, the 17 insurance companies declared N84.11 billion profit in 2023, a significant increase of 216 per cent compared to N26.63 billion in 2022.

In terms of profit, NEM Insurance also led others with N18.5 billion profit after tax in 2023, a growth of 252 per cent from N5.25 billion in 2022, followed by Cornerstone Insurance that declared N15.7 billon profit after tax, an increase of 516

in our efforts and that is why it is important for this association to see one of the efforts to take us out of the doldrums,” he urged.

According to him, Nigeria is faced with negative indices ranging from high inflation, unemployment, insecurity, energy crisis, disruption of monumental proportion and declining manufacturing and export. “Nigeria operates a mono economy that is only dependent on the export of a single commodity which is crude oil. The vagaries of international occurrences especially wars determines how our economy fares and this goes to show that we

per cent from N2.54billion recorded in 2022. The Chief Executive Officer, Highcap Securities Limited, Mr. David Adnori expressed that these insurance companies should take pride in their achievements and resilience displayed amidst the rapidly changing macro environment in 2023.

“Last year Nigeria recorded a prevailing economic landscape, market and inflationary trends influence customer spending leading to shifts in consumer demand.

Despite challenges posed by the macroeconomic environment and supply constraints, these listed insurance companies delivered strong performance, maintaining a disciplined approach to strategic investments for the future hence upholding the strength of our balance sheet,” he said.

He added that insurance sector over the years in Nigeria remained a hard sell despite significant changes and advancements.

“However, embedded insurance holds the potential to address these challenges by integrating insurance products with existing services and increasing awareness, accessibility, and trust in the insurance sector,” Adnori said.

On his part, the Chief Operating Officer of InvestData Consulting Limited, Mr. Ambrose Omordion noted that the insurance sector performance on the NGX is purely market dynamics, stressing that, though penetration maybe weak, a little off these companies are introducing products and services to drive top-line.

do not have the economy in our hands. Today’s event is significant because it is an illumination to drive away the darkness that has engulfed us,” he added.

On his part, a former president, SOAN, Craig Ogbeifun, said the only way to tap into the global shipping industry is for shipowners to see themselves as an association of global trading shipowners. He stated the present administration has given maritime stakeholders the platform to take advantage of the global shipping opportunities, tasking shipowners to act as vanguard of engagement

for stakeholders sensitisation, government strategic engagement to break the jinx of foreign dominance.

“It is safe to say that the majority of shipowners in that space are Nigerian shipowners as opposed to those days when it was foreign dominated. This government has given us the platform to step out and why should we be happy that all the cargoes going out and coming in are carried by foreign shipowners. We must start talking about the global space,” he added.

Agric Ministry, NiMet Intensify Partnership to Reduce Climate Change Impacts on Farmers

Gilbert Ekugbe

The Ministry of Agriculture and Food Security and Nigerian Meteorological Agency (NiMet) have strengthened their partnership to boost agricultural production and mitigate the impact of climate variability on farmers’ livelihoods in the country.

The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, at a press briefing on the 2024 NiMet Seasonal Climate Prediction (SCP) in Abuja, revealed that the Ministry and NiMet signed a Memorandum of Understanding (MoU) on March 3, 2022, to collaborate in various areas, including the development of a dashboard for early warning systems, capacity building for Ministry staff and other stakeholders in accessing and interpreting meteorological information as well as provide

agro-meteorological advisory services to farmers on specific agricultural commodities.

He stated that the collaboration between the Federal Ministry of Agriculture and Food Security and NiMet underscores the importance of interagency cooperation in addressing challenges related to agricultural production and food security.

The Minister pointed out that the partnership would focus on enhancing data dissemination, capacity-building, and stakeholder engagement to ensure that Nigerian farmers have access to actionable weather and climate information.

He added that the Ministry’s 10 Automatic Weather Stations had been handed over to NiMet to expand its capacity in data and information gathering in the agricultural sector.

Kyari pointed out that the

SCP would provide valuable information about rainfall patterns, growing seasons, and potential dry spells, assisting farmers in making informed decisions to enhance their adaptive capacity.

In his remarks, Director-General, NiMet and Nigeria’s Permanent Representative with the World Meteorological Organization (WMO), Prof. Charles Anosike, stated that NiMet is committed to reaching out to as many Nigerians as possible with timely and accurate weather and climate information.

Anosike highlighted NiMet’s efforts in disseminating seasonal climate predictions through formal engagements with farmers through various media channels. He also emphasized the need to equip Nigerians, especially farmers, with information and resources to enable them to make climateresilient decisions.

PalmPay Unveils First Set of Winners in Eid Mobile Promo

Emma Okonji

PalmPay has announced the first set of winners in its ongoing Eid campaign tagged PalmPay Eid Bonanza, which kicked off on April 10th and will run until April 30th, 2024.

Since the start of the bonanza on April 10th, five lucky winners have emerged daily simply by performing tasks on the PalmPay App such as transferring funds, airtime and data purchases, bill payments, and savings.

Comfort Udoh from Lagos, one of the proud recipients of an iPhone

15 Pro, expressed her sheer delight. “I simply won by recharging my phone with airtime on the PalmPay app. I received the exciting news via a call from PalmPay Nigeria. I thank them for the generous reward of a brand new iPhone 15 pro,” Udoh said.

Also, Mr. Abegurin Patrick Segun’s winning entry came about when he placed a N100 bet using his PalmPay app. It was a delightful surprise for him to receive a call from PalmPay Nigeria, informing him of his victory in the daily raffle draw, and he’s now the proud owner of an Infinix Hot 40i.

Head of Marketing and Communications at PalmPay Nigeria, EnakenoUmuteme, said: “Our primary objective is to reward and acknowledge our loyal customers. This campaign stays true to its promise of appreciating Nigerians who are PalmPay users. PalmPay offers an array of services including money transfers, bill payments, credit services, and savings on its app and via its mobile money agents. Since its inception in Nigeria in 2019 under a Mobile Money Operator license, the platform has amassed over 30 million app users as part of its cashless payment ecosystem.”

Group Unveils Digital Store Platform

Ugo Aliogo

Ushoppen has launched an allinclusive digital store builder.

Speaking at a media briefing in Lagos during the unveiling of the platform, the founder, Oghoghozino Otefia, noted that the platform is designed to empower businesses of all sizes, adding that the it provides a user-friendly platform to create, manage, and grow your online presence.

He also noted that to celebrate the launch, they are giving away 100 deluxe Ushoppen packages absolutely free for one month.

Otefia further explained that Ushoppen simplifies store creation, management, and business growth, with Ushoppen, you can sell your products both online and offline,

bridging the gap between the virtual and physical retail worlds.

The Ushoppen founder remarked that the platform offers users the leverage to own not just an online store, but a digital store at a rather affordable price, adding that users can seamlessly create their own digital store, “as we provide you with the tools essential to effectively manage and build your business.”

According to him, “To solve the diverse problems and high costs associated with building an e-commerce business; from hiring a developer to purchasing a server, to figuring out how to collect payment online, to cyber and data security. These can be pretty burdensome and somewhat vexatious! But with Ushoppen, the whole process has

CPS Eases Job Loss Impact: N14.2bn Paid to 8,651 RSA Holders in 3 Months

An integral feature of the Contributory Pension Scheme (CPS) is the provision of social security through benefits payments during temporary job loss. This innovative measure mitigates the impact of unexpected unemployment on Retirement Savings Account (RSA) holders and helps alleviate the broader effects on theNigerian economy. This social security for CPS participants underscores the scheme’s commitment to supporting individuals during challenging economic periods, promoting stability, and fostering resilience within the workforce.

The Pension Reform Act 2014 (PRA 2014) allows pension contributors to access 25 percent of the balance in their RSA due to a temporary job loss.

utilities, and other living costs during the period of job loss. The withdrawal option cushions the financial impact of job loss, reducing the stress and anxiety associated with sudden unemployment and enabling individuals to maintain financial stability. Significantly, accessing a portion of the RSA balance ensures that individuals can continue to maintain their standard of living and meet basic needs while seeking new employment opportunities.

KayodeTokede(CapitalMarkets)

James Emejo (Finance)

Ebere Nwoji (Insurance)

Reporters

Peter Uzoho (Energy)

Ugo Aliogo (Development)

been made simple and stress-free with our innovative. Answer-andBuild System.

“One of the benefits of the platform is build a stunning online store in minutes, no coding required. It helps brands showcase their unique brand identity with a customizable storefront. It helps to simply answer questions, upload products, and the store is ready. Ushoppen handles the technical aspects, allowing you to focus on your business. Eliminate expensive developer fees and server costs. Accept payments securely with various popular gateways. Easily track stock levels and manage product availability. Configure flexible shipping options for your customers.

Firm Bags Tourism Devt Award in Oyo

A foremost destination management firm, UfitFly, has been honoured by the Oyo State government for its efforts in promoting inbound and outbound tourism in the state.

The Managing Director /Chief Executive Officer of the company, Ajibola Ogunkeyede, was presented with the award by the Deputy Governor of Oyo State, Barrister Adebayo Lawal, during the first International Tourism Summit, organised by the state government in Ibadan, the state capital.

The state Commissioner for Culture and Tourism and Chairman of the Planning Committee of the event, Dr. Wasiu Olatunbosun, said it was to publicly acknowledge the contribution of individuals and corporate bodies to the growth of the state’s tourism sector, stating that UfitFly has contributed greatly to the growth

of the sector in the state.

Ogunkeyede in his remarks after receiving the award, said tourism is life because when people move money also moves, assuring that the company would continue to do its best to add value to the tourism sector in the state.

He maintained that the private players and investors play a major role in tourism development anywhere in the world, noting that it is important for government provide the enabling environment for business to thrive.”

He said, “I was invited to participate at a high level meeting with Governor Seyi Makinde during the first International Tourism Summit in Oyo with the theme : ‘Repositioning Tourism as a Driver of Sustainable Development in Oyo State. And we had a good discussion on how we can partner with the government to further explore the tourism potentials in the state to generate more IGR.

Section 7 (2) of the PRA 2014 states that “where an employee voluntarily retires, disengages or is disengaged from employment as provided for under section 16 (2) and (5) of the PRA 2014, the employee may, with the approval of the Commission, withdraw an amount of money not exceeding 25% of the total amount credited to his RSA, provided that such withdrawals shall only be made after 4 months of such retirement or cessation of employment and the employee does not secure another employment.”

The above provision of the PRA 2014 is one of the novel changes made by the CPS. Unlike the old Defined Benefits Scheme (DBS), which left many employees who lost their jobs without retirement benefits. Section 7(2) of the PRA 2014 guaranteed financial security to employees under the CPS as they have their RSA balances to fall back on in case of temporary job loss. It is pertinent to note that RSAs are individualised; therefore, account holders can change employers without the fear of losing their retirement benefits.

The National Pension Commission (PenCom) approved the payment of N14.20 billion to 8,651RSA holders who were disengaged from work in the first quarter of 2024. The beneficiaries were under 50 years old and did not secure jobs within four months of their disengagement. Fromthe inception of the CPS to the end of March 2024, Pension Fund Administrators (PFAs) paid N238.19 billion to 518,850 RSA holders who sought to access 25 percent of their RSA balances due to temporary loss of employment.

Accessing 25 percent of RSA balance in the event of a temporary job loss offers several significant benefits. It provides financial support to RSA holders facing temporary unemployment, helping them cover essential expenses such as rent,

In addition, by accessing funds from the RSA, individuals can avoid falling into debt or resorting to high-interest loans to sustain themselves during the period of unemployment. By supporting individuals during temporary job loss, the CPS contributes to economic recovery by reducing the negative impact of unemployment on households and communities. Furthermore, having access to financial resources during unemployment can positively impact mental health and well-being, reducing stress and promoting resilience.

PenCom’s swift and impactful response to the financial needs of unemployed RSA holders underscores the importance of a progressive and adaptable regulatory environment. With its commitment to empowering workers, PenCom continues to pave the way for a more secure and promising future for all RSA holders.

However, the PRA 2014 provides that where an employee has accessed the 25 percent for temporary loss of job, such employee shall subsequently access the balances in the retirement savings account only at the time of retirement.

Notwithstanding the provision of section 7(2) of the PRA 2014, it is pertinent for RSA holders to understand that the CPS is designed to cater for life at retirement. Therefore, the RSA is unlike the regular savings account with a commercial bank, where a customer deposits and withdraws funds at any time. Consequently, all withdrawals from an employee’s RSA are based on conditions allowed under the PRA 2014, including the 25% access for temporary job loss.

Notably, an employee who had accessed his RSA balance due to job loss is expected to resume pension contribution once he secures another employment by providing his new employer with his RSA details. Overall, accessing 25 percent of the RSA balance in the event of temporary job loss under the CPS provides essential financial relief and support, fostering economic stability and individual resilience in challenging times.

Kemi Olaitan in Ibadan

World Bank: Support for Innovative Financial Tools Could Generate $70bn

Eromosele Abiodun

The World Bank Group has announced that a new financial instrument designed to boost its lending capacity and enable it take on more risk for shared global challenges have received a significant endorsement.

Speaking at the just concluded, Spring Meetings in Washington DC, United States, World Bank Group President, Ajay Banga, said 11 countries have announced commitments for the Portfolio Guarantee Platform, hybrid capital mechanism, and new Livable Planet Fund totaling $11 billion.

He said the World Bank Group’s unique leveraging capability enables the resources pledged to hybrid capital and the Portfolio Guarantee Platform to be multiplied six to eight times over 10 years. Under certain conditions, the leverage amount could reach tenfold.

According to the World Bank, “The resources pledged today could provide up to $70 billion in urgently needed funds, which can be deployed to address crossborder challenges and advance development goals.”

“We worked hard to develop these new financial instruments that boost our lending capacity, multiply donor funds, and ultimately allow us to improve the lives of more

people. The generosity of these countries is both an endorsement of the progress we have made to reform the Bank, and a sign of their shared commitment to development globally,” said Banga.

The bank added, “Belgium, France, Japan, and the United States pledged to the Portfolio Guarantee Platform, while Denmark, Germany, Italy, Latvia, the Netherlands, Norway, and the United Kingdom made commitments to hybrid capital. Japan is committed to providing the first contribution to the new Livable Planet Fund. “The World Bank Group has implemented a series of reforms and developed innovative financial instruments as part of the Capital Adequacy Framework review, which was recommended by the G20 Expert Group. These reforms include: Adjusting the loan-to-equity ratio to secure $40 billion over 10 years from the IBRD’s balance sheet, Increasing the bilateral guarantee limit by $10 billion, Working to maximize callable capital benefits by publishing a detailed report for rating agencies to better assess its potential value and the Bank’s financial capacity and introduced hybrid capital, giving shareholders and partners an opportunity to invest in bonds with special leveraging potential among others.

Axxela Completes N16.4bn 10-Year Series 1 Fixed Rate Bond

Axxela Funding 1 Plc’s (“the Issuer”), a funding vehicle incorporated by Axxela Limited, sub-Saharan Africa’s leading gas and power portfolio company, has achieved a significant milestone with the successful completion of its N16.4 billion Series 1 Fixed Rate Bonds due 2034 (the “Bond Issuance” or the “Transaction”). The Transaction was issued under its newly established N50 billion Multi-Instrument Issuance Programme. Acting as the Lead Issuing House for the Bond Issue, Stanbic IBTC Capital, the investment banking subsidiary of Stanbic IBTC Holdings, alongside seven Joint Issuing Houses, played a pivotal role in the transaction with Stanbic IBTC Bank and Ecobank Plc serving as the transaction banks. Commenting on the bond issuance, Chief Executive Officer, Axxela Limited, Bolaji Osunsanya, said, “We extend our heartfelt gratitude to the investor community for their support and continued confidence in Axxela’s long-term vision and strategy. The success of the transaction underscores the trust placed in our management team and our commitment to driving sustainable growth in Nigeria’s energy sector. We are very proud

of this transaction and the trust of investors in our business model and growth prospects.”

Chief Financial Officer, Axxela Limited, Timothy Ononiwu said, “We are grateful for the success of the Transaction which speaks to the investors’ recognition of Axxela’s operating and financial performance over the years and the significant growth prospects across our value chain. We will continue to explore opportunities to diversify our funding sources and optimise our funding structure towards achieving our financial objectives. We are also thankful for the support of our advisers who guided us through this process and the investors who continue to believe in our story.”

Dele Sotubo, Chief Executive of Stanbic IBTC Capital, highlighted the significance of the transaction in demonstrating the depth, liquidity, and resilience of the Nigerian debt capital market.

He added that, “Stanbic IBTC Capital is delighted to have played a key role as Lead Issuing House and adviser to Axxela Limited in facilitating this Transaction, At Stanbic IBTC, we are committed to the development of Nigeria’s energy sector and the broader economy.”

“The World Bank Group has taken the additional steps to develop IBRD 50-year loans at

no additional cost for borrowers. These loans will be utilized for projects that provide cross-border

benefits. Additionally, we created a system to reduce interest rates for projects that address global

challenges, which will be partially funded through the Livable Planet Fund.”

LASEPA Boss Cautions Industries on Effluent Discharge

Funmi Ogundare

The General Manager, Lagos State Environmental Protection Agency (LASEPA), Dr. Tunde Ajayi, has cautioned the industries to treat their waste water before discharging it to the public drains as their failure to do this may produce chemicals that would be harmful to the ecosystem.

Ajayi made this known, at a one-day capacity building themed, “Effective Operation of Effluent Treatment Plants,” for Effluent Treatment Plant (ETP) operators, maintenance officers, supervisors, quality assurance officers, engineers, environmental consultants, HSE officers, facility managers among others, in the value chain, in collaboration with the Lagos state Ministry of the Environment and Water Resources; and FUMMAN Nigeria Limited.

He expressed concern that

some industries push out chemical effluent that may be toxic to the environment, adding that it is their responsibility to adhere to the best global standard practice to safeguard the well- being of the citizenry, protect the environment against further degradation and safety of the ecosystem.

“ What we are saying is that they have to treat the waste water to remove the harmful chemicals before sending it to the public drains,” he said.

The training he stated, was to strengthen their capacity for compliance so that when his office goes out on industrial monitoring, they would have been better equipped.

“ Overtime, we will make a training like this more robust and make it a prerequisite for people. We traditionally go out for monitoring and enforcement. We do it daily. It

is our statutory role and we will continue to engage the industries by updating their knowledge and building their capacity in their field of operations,” the General Manager stated.

The programme, he added, would help industries to design and implement a post production effluent treatment system that would be environmentally friendly and conform with the best practices in other civilised climes.

According to him, “ the state government is very much concerned about the discharge of toxic waste into the environment. Before now, we used to sanction the industries, but we thought of the need to bring them into the system and train them on how to properly treat their industrial waste in a way that will beneficial to the environment.

He recalled that on assumption of office, he took an inspection

tour of the state’s industrial areas especially, manufacturing organisations to inspect the way their effluent is being treated as part of the agency’s proactive measures to combat the menace of environmental pollution.

Ajayi stated,” I realised that most of the effluent plants in those manufacturing organisations visited were either not working for mechanical faults or completely abandoned for lack of technical know- how and training on their effective operations “ “ What is discharged into the environment, has a lot of impact on the health of Lagosians. There is need for us to monitor and bring the industry into the system so that they will understand what is expected of them. That importance can not be overemphasized and that is the reason for the workshop,” he stressed.

Experts: Stable FX Regime Will Trigger Nigerian Breweries, Others’ Return to Profitability

Financial analysts have been talking up a return to profitability for Nigerian Breweries Plc and other multinationals that were hit by a gale of foreign exchange headwind in the 2023 financial year.

This is coming as the company has announced strategic business recovery plans designed to return it to profitability following a loss of N106 billion in the 2023 business year, mostly as a result of the foreign exchange headwinds that occasioned a steep fall in the value of the Naira.

The recovery plans, among which are the raising of N600 billion through Rghts Issue, the inclusion of a whiskey portfolio in the basket of offerings, and the temporary closure of two of its nine breweries, are envisioned to

return the business to the green columns.

Nigerian Breweries, like many other companies in the Nigerian fast-moving consumer goods value chain, was forced by the steep plummet in the value of the naira to post losses, with the brewer announcing a loss of N106 billion, a result that sent tongues wagging as to the possibility of a positive performance in the 2024 financial year.

Analysts have however been sharing their views on the future of the conglomerate in 2024, asserting that with a more stable foreign exchange market, the brewer, like most other big corporations will return to profitability in 2024, Speaking to journalists on the

impact of the naira exchange on corporate performance, the Managing Director and Chief Executive Officer of Lyceum Alliance Limited, a financial advisory and management consulting firm), Dr. Jekwu Ozoemena expects a positive economic outlook as the country’s currency continues to stabilize against the dollar and other major international currencies.

Jekwu, who was at one time the Managing Director of Access Bank Zambia, blamed the poor performance of Nigerian Breweries on the steep drop of the naira in the foreign exchange market, blaming it for more than 90 percent of the loss the company posted.

“If you look at the 2023 annual

result of Nigerian Breweries, for instance, the company performed well on most critical performance indicators but was shaken off the profits path by the external factor of naira depreciation. For example, this company recorded a significant growth of more than N1 billion in assets, from N621 billion in 2022 to N797 billion in 2023. It also made significant savings in the marketing side of the business, spending N51 billion in 2023 as against N57 billion in 2022. This means that the company, given all other factors, would have made more profits in 2023 than in 2022, but these were undone by the rapid decline in the value of the naira between August and December 2023,” he stated.

BOP2024 Celebrates Success, Sets New Industry Standards

Mary Nnah

The Business of Photography Conference 2024 (BOP2024), a Conference designed to advocate the creative industry in Nigeria with a focus on the photography and videography industry and enhancing its recognition as a formidable business sector in Nigeria and Africa, concluded with resounding success recently in Lagos.

The conference, being the

fifth edition, attracted industry leaders, policymakers, creatives, and aspiring photographers and videographers, showcased insightful discussions, thoughtprovoking panels, and networking opportunities, cementing its reputation as a premier event in the creative industry calendar.

Mr. Kola Oshalusi, the convener of the BOP Conference, set the tone with his opening remark, emphasising the importance of harnessing Nigeria’s cultural

wealth for economic prosperity. He said: “The creative industry in Nigeria has the potential to employ everyone who doesn’t have a job if only it is explored and that is the basis of this conference.”

Throughout the day, attendees were treated to a diverse array of perspectives and expertise, beginning with Bola Yinka Obebe’s illuminating speech on Speak Ede, followed by Obi Asika’s, Director General, National Council for Arts and Culture, captivating Keynote Address on the

Nigeria, we’re working to see more platforms to provide better opportunities for Photographers”

L-R: Product Development Portfolio Head, Rand Merchant Bank (RMB), Kevin Holmes; Board Member, Network of Practicing Non-Oil E xporters of Nigeria (NPNEN), Omolara Ololade Akanji; Chief Executive Officer, Wemy Industries, Paul Odunaiya; Group Head, Transaction Banking, FirstBank, Mobolade O jeahere and Chairman & CEO, Multimix Group, Obiora Madu during the GTR West Africa 2024 at the Eko Hotel and Suites, Victoria Island, Lagos… recently

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 18-April-2024, 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.

Hydrogen, CcHUB Harp on Fintech Adaptability for Economic Growth

Emma Okonji

Hydrogen, a card payment solution company and CcHUB, a technology incubation company have stressed the need for startups in the Fintech sector to adopt a sustainable business model that will help them scale up their businesses while addressing specific challenges.

Speaking at a panel session organised by Hydrogen, and hosted at CcHUB in Lagos recently, where different startups are developing solutions for the Fintech industry, the panelists who are experts in Fintech solutions, addressed the potential risks and opportunities for startups and advised on the need for startups to develop business models that could scale across different economic climes.

Moderated by the Digital Marketing Manager, Hydrogen, Miracle Ezechi, the panel session

addressed dominant issues about the theme: ‘Adapting Fintech Business Models to Economic Climes: Flexibility, Agility and Customer-centricity’.

Group Director, Digital Transformation, ARM HOLDCO, Mr. Ina Alogwu, who spoke as a panelist at the session, stressed the need for startups to develop sustainable products and solutions that will help them remain competitive in an environment that is faced with harsh economic realities.

“Startup businesses are bound to fail, but startups should not be discouraged, but rather develop the culture that will encourage them to accept failure and learn from their mistakes. Again, startups should not be too rigid with their solutions, and should be ready to accept changes that will drive innovation,” Alogwu said.

Chief Technology Officer,

Hydrogen, Mr. Emeka Awagu, who also spoke as a panelist, addressed the issue of customercentricity, which according to him, is key to Fintech growth. He advised startups to listen to customer demands and understand their needs, in order to develop the right solutions that will address customer needs.

“Innovation is key for startup growth. Understanding customers’ needs and change in behaviour will help the startup to innovate better. Startups must be flexible and agile to develop solutions with high interoperability and processing speed, and they must be ready to learn from startups that have failed,” Awagu said.

Addressing the issue of funding, amid dwindling financial inflow for startups, Alogwu advised startups to cut down on cost and find local alternative to sell their solutions and products.

Olam Agri Reaffirms Commitment to Food Security

Olam Agri in Nigeria, an agribusiness in food, feed and fibre has reaffirmed its commitment to helping Nigeria achieve food security. The company made the pledge during a recent meeting with the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.

The meeting, which is part of the agribusiness strategic engagements with critical stakeholders had in attendance the Managing Director of Olam Agri in Nigeria, Anil Nair, the Chairman of Federal Inland Revenue Service, Zacchaeus Adedeji, the Accountant General of the Federation Oluwatoyin Sakirat Madein, and the Director

Corporate & Regulatory Affairs

Olam Agri, Ade Adefeko. The latest engagement came on the heels of a courtesy visit to the Vice President of the Federation, Sen. Kashim Shettima, and a tour of the agribusiness rice farm and mill by the Honourable Minister of Agriculture and Food Security, Sen. Abubakar Kyari.

Speaking during the meeting, the Minister of Finance and Coordinating Minister of the Economy, implored Olam Agri to leverage its impressive scale with presence in the Rice, Sesame, Animal and Fish Feed, Wheat Milling value chains as well as biscuits confectionery

and culinary product manufacturing.

In response, the Managing Director of Olam Agri in Nigeria, Anil Nair, said, “Our commitment to driving food security is evidenced by the sprawling investments we keep making to raise productivity in the rice, animal feed and protein, wheat and flour milling, sesame, and edible oils value chains. We consistently scale this investment as well, as we expand involvement in various out-grower programmes, research & development, partnerships, collaborations, and the integration of smallholder farmers into various empowerment initiatives for the betterment of Nigeria.”

Esan Holds Real Estate Cash Flow Master Class in Lagos

Self acclaimed, World’s No1 Legendary Closer, Massive Wealth Creator and 7-figure Income trainer, Tade Esan known largely in the industry as Tade Cash recently held a Master Class on the lucrative and viable market of Real Estate.

The three days empowerment and enriching experience was held at the prestigious Lagos Marriot Hotel, Ikeja from the 12th to 14th of April 2024. The real estate bootcamp, led by industry giants overseeing a collective real estate portfolio

worth over $1 billion, featured seasoned trainers and experts including Kola Ojo, Ugochukwu Omeogu, Olumide Emmanuel, Femi Okanlawon, and Tope Mark Odigie. Attendees were guided through various sessions aimed at enhancing their knowledge and skills for achieving unprecedented success in the field

On what birthed the idea of the MasterClass, Esan shares that it was birthed by focusing on the main thing, “So for me in the business frame work no matter how much hope you

have for tomorrow today must be taken care of. It’s just like having employees you would pay every 30 days and by having them you can’t pay them on hope as you have to pay them on what comes in predictably. So this was done to be able to create a financial fortress and for you have to one you must generate cash flow. So it’s a maiden edition where we show people how to build cash flow and raise money that can build cash flow.”

Providusbank Provides Platform for Creativity, Learning

Mary Nnah

The Hive by ProvidusBank, held over three exhilarating days, emerged as a testament to the vibrancy and dynamism of Nigeria’s cultural landscape. Attendees from all walks of life converged to experience a diverse array of activities, from shopping among unique vendors to indulging in culinary delights and immersing themselves in captivating entertainment. Day one kicked off with a bang as attendees flocked to shop among unique vendors and indulge in a variety of culinary offerings. The Kids Village was a hub of non-stop fun with activities ranging from bouncy castles to face painting, ensuring that every child could participate and

enjoy the festivities to the fullest. Wellness expert Jade Phillips led a masterclass on relaxation techniques, while Chef Chi demonstrated the art of cooking. Renowned fashion designer Ugo Monye shared his insights, and the night ended with electrifying performances by EDM DJs and DJ Obi.

Day two saw a continuation of the excitement, with attendees enjoying more shopping, delicious food, and engaging activities at the Kids Village. Kitchen Muse’s Bukie Akinmade hosted a cooking masterclass, while beauty expert Banke Meshida showcased beauty tools and techniques.

The runway came alive with collections from Trax Apparel, Henri Uduku,

and Mak Afrika. The day concluded with a Fireside chat on digital commerce and a high-energy performance by DJ Dope Caesar and Teni.

On the final day, the event reached its peak with a fresh lineup of vendors, delectable food options, and engaging activities for children. Fashion masterclass by Kolapo Olabintan, cooking demonstrations by Chef Yeide Kuti and Dr. Chef Chi, and hair styling tips by Kotty Signature kept attendees entertained and informed. The runway featured stunning collections from Titi Belo, Jon Pelumi, Cladini, and Ohlanna, the runway was graced by the presence of ProvidusBank staff, showing their support for the talented fashion designers and adding an extra touch of elegance to the event.

Transcorp Hotels Divests 100% Stake in Calabar Subsidiary

Kayode Tokede

Transcorp Hotels Plc, has announced the divestment of its 100 per cent interest in Transcorp Hotels Calabar Limited to Eco Travels and Tours Limited, an indigenous hospitality company.

Company Secretary, Transcorp Hotels, Mr.

Stanley Chikwendu in a statement posted on the Nigerian Exchange Limited (NGX) stated that Eco Travels and Tours has a diversified portfolio including hotel management, wellness and fitness facilities, familycentric spaces, and interior and exterior design and decoration.

Chikwendu in a signed statement said Transcorp Hotels strategic focus is on Abuja and the significant continuing investment in the iconic Transcorp Hilton Hotel and in development opportunities in Lagos.

According to the company, in its published 2023 audited

financial statements, the Company recorded 36per cent revenue growth and with the ongoing execution of its business strategies and optimization of new business opportunities, will continue to deliver even greater value to all its stakeholders.

The Managing Direc -

tor/CEO of Transcorp Hotels, Dupe Olusola had stated that “This consistent financial upswing reinforces our dedication to excellence and resilience in the face of economic challenges. We have remained nimble, adapting quickly to meet the dynamic preferences of our

guests”.

According to Olusola, the Company continued to experience strong performance in its International Business Travel segment, as it took advantage of renewed investor confidence in the Nigerian economy as a new government resumed office.

PRICES FOR SECURITIES TRADED ASOF APRIL 18 /24

HOMES & DESIGN

17-Floor Bridge

Tower Lights Up Ikoyi

Bridge Tower is a 17-floor mixed use development laid close to the iconic Lekki Link Bridge. It is designed to simply dazzle. Bennett Oghifo writes

Bridge Tower is an exquisite development conceived and being rendered by Orangeline Dev. Ltd., that rates itself as a frontrunner in the off-plan design and development of contemporary luxury residential and commercial units spread across Ikoyi/Victoria Island environs.

Bridge Tower is located on 50A Alexander Old Ikoyi, a 17-floor waterfront mixed-use development with an exclusive view of the iconic Lekki Link Bridge. When fully built, Bridge Tower will offer exquisitely finished, well-spaced, efficiently-laid out luxury units of

varying sizes, according to the developer. Orangeline Limited is an up-scale design and development firm with a portfolio of luxury residential and commercial developments across the Ikoyi environs. Orangeline was established in 2005 as a subsidiary of PM+ CDC Associates, and is committed to the delivery of commercial and residential developments to international standards by leveraging the professional capabilities and track record of PM+ CDC Associates in liaison with our financial partners to achieve our objectives.

BUSINESS SPECIAL

Banks’ Recapitalisation as Panacea for Economic Sustainability

In this piece, James Emejo writes on the current move by the apex bank to recapitalise the banking industry to enhance its contribution to the economy

If anything, the Central Bank of Nigeria (CBN)’s resolve to significantly boost the capital base of the banking sector didn’t catch the banks napping as this had already been foretold.

Recapitalisation refers to the process of strengthening a bank’s capital base - the difference between its assets and liabilities and essentially represents the bank’s net worth or equity. This is often achieved by raising new equity, retaining earnings instead of paying them out as dividends, or converting debt to equity, among other methods.

Mandating commercial banks to recapitalise is a measure to ensure that the banking sector is resilient, capable of supporting economic activities, and prepared to withstand financial shocks, thereby safeguarding the overall health and stability of the financial system.

In an era where Nigerian financial institutions appeared to have failed in their responsibility to play an effective role in funding key sectors of the economy, the proposed consolidation becomes inevitable.

Last November, while speaking at the Chartered Institute of Bankers of Nigeria (CIBN) 58th Annual Bankers’ Dinner and Grand Finale of the Institute’s 60th Anniversary, held in Lagos, CBN Governor, Mr. Olayemi Cardoso, signaled the intention of the apex bank to have the banks recapitalised to effectively play their intermediation role in the envisaged $1 trillion-economy which President Bola Tinubu’s administration hopes to realise.

The administration’s Policy Advisory Council report on the national economy had set an ambitious goal of achieving a Gross Domestic Product (GDP) of $1 trillion over the next seven years, with clearly defined priority areas and strategies.

Cardoso explained that attaining the substantial target required sustainable and inclusive economic growth at a significantly higher pace than current levels, pointing out that the current administration had commenced the journey through fiscal reforms, including the removal of petrol subsidy and the unification of the foreign exchange market rate.

He said given the policy imperatives and the projected economic growth; it was crucial for the apex bank to evaluate the adequacy of the banking industry to serve the envisioned larger economy.

He said it was not just about the stability of the financial system in the present moment, as current assessment had further demonstrated the resilience and stability of the sector.

Cardoso said:“However, we need to ask ourselves: Will Nigerian banks have sufficient capital relative to the financial system’s needs in servicing a $1.0 trillion economy in the near future? In my opinion, the answer is “No!” unless we take action. Therefore, we must make difficult decisions regarding capital adequacy. As a first step, we will be directing banks to increase their capital.”

Also, The Monetary Policy Committee (MPC) of the CBN at its last meeting in March 2024, further reviewed developments in the banking system and concluded that the industry remained safe, sound, and stable, and further urged the central bank to sustain its surveillance and ensure compliance of banks with existing regulatory and macroprudential guidelines.

The committee specifically encouraged the apex bank to expedite action on the recapitalisation of banks to strengthen the system against potential risks in an increasingly globalised world.

RECAPITALISATION ORDER

Therefore, matching words with actions, the CBN on March 28, 2024, announced new minimum capital requirements of N500 billion and N200 billion for commercial banks with international and national authorisation respectively.

The apex bank further unveiled a new capital base of N50 billion for banks with regional licenses. The fresh capital hurdles were disclosed in a circular addressed to commercial, merchant, and non-interest banks and promoters of proposed banks, which was signed by the CBN Director, Financial Policy and Regulation Department, Mr. Haruna Mustafa.

The central bank also pegged the new minimum capital for merchant banks at N50 billion, while non-interest banks with national and regional authorisations are mandated to raise their capital thresholds to N20 billion and N10 billion, respectively and gave the banks up till March 31, 2026 to fully comply with the new capital requirements.

The CBN urged the banks to consider injecting fresh equity capital through private placements, rights issues and/ or offers for subscription; mergers and acquisitions (M&As); and/or upgrade or downgrade of license authorisation to enable them to meet the new capital requirements.

Furthermore, the circular disclosed that the minimum capital shall comprise paid-up capital and share premium only, adding that the new capital base shall not be based on the shareholders’ fund, adding that additional Tier 1 (AT1) capital shall not be eligible for meeting the new capital threshold.

Notably, the proposed recapitalisation drive comes 20 years after a similar exercise in 2004 when the central bank raised banks’ capital base to N25 billion under the

former CBN Governor, Prof. Chukwuma Soludo.

PRESIDENTIAL APPROVAL

No doubt, the current recapitalisation drive, which had already witnessed positive traction by some banks, has the express approval of President Bola Tinubu, who recognised the role of the industry in realising his administration’s huge financing needs to build infrastructure.

In his remarks at the recent 29th Nigerian Economic Summit (NES#29), with the theme: “Pathways to Sustainable Economic Transformation and Inclusion”, the president emphasised that the prospects for a $1 trillion - Nigerian economy by 2026 was feasible, including a $3 trillion - economy within a decade.

He promised to work closely with the private sector, particularly the banking sector to finance the $3 trillion National Infrastructure Stock in 10 years rather than the anticipated 300 years.

According to the president, building megacities in every geopolitical zone of the size and scale of Lagos must not take the country another six decades.

Tinubu said:”We can do it in one decade. A fully networked and connected Nigeria by rail, gas, fibre optics and road network can be constructed in less than 20 years. Establishing thriving industrial zones in every part of Nigeria is possible before 2030.

“We can do it with double-digit, inclusive, sustainable and competitive growth.”This is our agenda, and I would like to charge you, the captains of industry here present, to commit and redouble your commitment to our vision of a renewed and more prosperous Nigeria, a better Nigeria for all.

“For us to successfully deliver our promise to Nigerians, we recognise that it is imperative that we foster a highly collaborative relationship with the private sector. We must work together.”

IMPERATIVES FOR IMPROVED CAPITAL BUFFERS

Essentially, central banks may require commercial banks to recapitalise to ensure the stability and health of the financial system.

The move is also determined to enhance banks’ financial stability, improve risk management, maintain confidence of the financial system, as well as enhance compliance with regulatory requirements.

In addition, banks’ recapitalisation is intended to boost their capacity to support economic growth and address asset quality issues as well as enhance their competitive position.

HOW POPULAR IS THE RECAPITALISATION DRIVE?

The popularity of the proposed capital beef-up by the banks is already measured in the manner the stakeholders have welcomed the announcement by the central bank.

Almost everyone agrees that the recapitalisation of the financial institutions was long-overdue especially given the long-term financing needs of the country.

Already, there are indications that banks including Fidelity Bank, First Bank of Nigeria (FBN), United Bank for Africa (UBA) Guaranty Trust Bank (GTB), Access Bank and Zenith Bank have long commenced the process of beefing up their capital bases. So far, there have not been major dissenting voices to the recapitalisation programme.

ANALYSTS’ PERSPECTIVES

Reacting to the drive to boost banks’ capital thresholds, analysts who spoke to THISDAY applauded the apex bank’s policy resolve particularly considering recent devaluations of the Naira amid other headwinds.

Wealth Management and Business Development Consultant, Mr. Ibrahim Shelleng, described the move as a step in the right direction.

He said: “I believe it is the right move by the CBN. I have always been of the opinion that despite the size of the Nigerian economy, our banks do not have the capacity to really drive the economy to exponential growth.

“This is despite the fact that they are some of the most profitable institutions on the continent and have consistently made profits during numerous economic downturns in Nigeria. However, as of December 2022 figures, no Nigerian bank features in the top 10 largest banks in Africa based on Tier 1 Capital.

“The Naira devaluation will likely see Nigerian banks drop even further in 2023 numbers. The implications of this are that there are certain transaction ticket sizes that are beyond the capacity of Nigerian banks to fund even with syndication.”

Shelleng said: “This is why there has been an over reliance on DFI funding such as the African Development Bank, Afreximbank, IFC among others, for infrastructural and other developmental projects.

“The Nigerian economy is vastly untapped, and without strong, well capitalised financial institutions, it will be tough to grow the economy beyond its current limitations.”

Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, said the exercise was over-due.

He said: “Our country is overdue for a capital raise for banks. The reason is that the depreciation of the Naira eroded the value of the capital base of Nigeria banks.

“The asset size of the Standard Bank Group of South Africa at $170 billion is more than the total asset size of all Nigerian Deposit Money banks at $140 billion. Again, no Nigerian bank is ranked between first to 10 in size of both assets and capital base in Africa.

“The foregoing answers the question of whether

the new capital regime of banks is justified. It will enable Nigerian banks to expand their capacity and business frontiers to grow our economy.”

On his part, President, Association of Capital Market Academics of Nigeria, Prof. Uche Uwaleke, welcomed the recapitalisation drive, saying it would help strengthen the country’s financial system and potentially boost the stock market.

He said: “In view of naira devaluation following unification of exchange rates, the newly calibrated minimum capital requirements seem okay unlike the uniform capital base of N25 billion stipulated in 2005.

He, however, urged the apex bank to allow the inclusion of retained earnings on the condition that they are not impaired by losses. This, he said, will make it easier for the banks to comply with the new capital requirement.

He said it was also important that the federal government provided the banks with some sort of tax incentives to aid compliance as well as to ensure that the costs of recapitalisation are not transferred to bank customers.

Uwaleke said: “The Shareholders’ Funds comprise paid up share capital plus reserves. If my memory serves me right, this was permitted in 2005 but now disallowed possibly from the experience of the last exercise.

“Nevertheless, in order to make it easier for the banks to comply, the CBN should allow the inclusion of retained earnings on the condition that they are not impaired by losses.

“I believe the FUGAZ (FBN, UBA, GTB, Access and Zenith) banks with international authorisation will have no difficulty meeting this requirement.

“The stock market (Option 1) presents the most feasible option as few will likely go the M&A route. I also think the two years period allowed is sufficient to implement recapitalisation.

“A number of banks including FBN, Access and Fidelity had already commenced the process of recapitalisation before now, especially since the CBN governor made the announcement in November last year.

“In view of the young age of Non-Interest Banks in Nigeria, they should be allowed a longer period, say, three years to meet the minimum capital requirements. I also think the CBN should extend the 30 days period it gave banks to come up with an implementation plan given that it would take some time to obtain the consent of shareholders.”

He said: “It’s also important that the CBN provides some incentives to banks to facilitate the recapitalisation exercise as was done in 2005. This can take the form of tax incentives and ensuring that the overall cost of recapitalisation is low by seeking the cooperation of relevant regulatory authorities such as the Federal Inland Revenue Service, the Securities and Exchange Commission, the Nigerian Exchange as well as the Federal Competition and Consumer protection Commission given that banks have the option of raising funds via the capital market or through mergers and acquisitions.”

Also speaking to THISDAY, Managing Director/ Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, said the exercise will help to expand the economy.

According to him, “The recapitalisation of banks in categories is long overdue and advocated for the expansion of our economy. The Tier 1 banks operating internationally have already envisaged this process and have started making provisions early enough.

“Nigeria has the highest GDP in Africa and for us to maintain that position and also operate a trillion-dollar economy then the banks must be adequately capitalised.

“A trillion-dollar economy must have local capacity to initiate and execute million dollar transactions locally without foreign intervention in key areas of development like oil and gas, steel production, mining, mega construction projects and Public Private Partnerships with the government.”

Gbolade said: “This can only materialise if we have adequately capitalised banks that can rise to the occasion. Nigerian banks also need to take their pride of place in Africa as regards capitalisation because presently Nigerian banks are not among the most capitalized in Africa. Therefore, this new recapitalisation policy will adequately position our banks for the emerging economy that will adequately equip them to take on large ticket transactions in Nigeria and African continent.

“The exclusion of retained earnings or shareholders’ funds as additional tier 1 capital shows the CBN wants to distinguish fresh funds from existing funds which could be subject to regulatory infractions because shareholders’ funds are not a statutory capital base.

“CBN also wants to trace the legitimacy of funds for the recapitalisation process by banks. The time frame is adequate for most of the international and national bank categories to adequately recapitalise.

“They can explore various options to raise transparent and legitimate funds from the Nigeria stock exchange, private placements or through mergers and acquisitions.

“I am of the strong opinion that recapitalisation will strengthen and enlarge our economy because of the critical roles our banks play in oiling the economy.”

Cardoso

UNLOCK TRAINING PROGRAMME...

An Entrepreneur, Mr Seyi Tinubu (left) and the Senior Special Assistant to the President on Technical, Vocational and Entrepreneurship Education, Madam Abiola Arogundade, during his visit to address participants on Day Ten of the Unlock Training Programme at the SSA-TVEE’s office Asokoro, Abuja on Friday

After Her Recall from Eko Disco, Power Firm's Parent Company, WPG, Fires Tinuade Sanda

Emmanuel Addeh in Abuja

West Power & Gas (WPG), the parent company of Eko Electricity Distribution Company (EKEDC), has fired the embattled former Managing Director and Chief Executive of the power distribution company, Dr Tinuade Sanda, weeks after she was asked to return to the firm (WPG).

But on its website last night, WPG which still listed Sanda as its Chief Finance Officer, said the consortium of local businesses owns a 60 per cent stake and controlling interest in Eko Disco.

However, THISDAY gathered that Sanda, who has been in the eye of the storm, following a boardroom crisis at the distribution company, was relieved of her duties at WPG via a letter dated April 17, 2024 and signed by the company’s Chair, Charles Momoh.

With the latest development, close followers of the events that culminated in Sanda’s removal are hopeful that peace will eventually return to the company which mainly supplies electricity to Lekki, Ibeju, Lagos Island, Orile, Ijora, Apapa,

Mushin, Festac, Ojo, Ajah and Agbara.

The first woman to hold the chief executive position since her appointment in 2022, THISDAY gathered that Sanda joined WPG around 2013, holding several positions at the company before she was seconded to EKEDC, where she was initially deputy MD and then substantive CEO.

“We refer to your contract of employment dated April 1, 2022, signed between you and WPG Limited.

“We hereby advise you that your services are no longer required and accordingly your employment with WPG Ltd is hereby terminated effective April 17, 2024, in accordance with clause 10.2 of the Contract.

“WPG Ltd is obligated to pay you three months salary in lieu of notice and hereby advise you that the due amounts have been credited to your account.

“You are requested to kindly return all company's properties (whether WPG or EKEDP) in your possession which will include but not limited to laptops, identity card, and status car upon your receipt of this

Abiru Hails Ikorodu-born Chess Master, Onakoya’s Feat

The lawmaker representing Lagos East Senatorial District, Senator Adetokunbo Abiru, yesterday commended the 29-year-old Ikoroduborn chess master and coach, Tunde Onakoya, for setting a global record in the chess game.

Onakoya broke the world record for the longest chess marathon after playing unbeaten for about 60 hours in New York City’s Times Square to raise money for underprivileged children.

The lawmaker in his congratulatory message, saluted the courage and determination of Onakoya, despite the adversities he faced while growing up in Ikorodu, a statement released by his media aide, Mr. Enitan Olukotun stated.

Abiru noted that the rare feat has once again given a ray of hope for many young folks, particularly those from less-privileged homes who are striving to fulfil their dreams and aspirations.

The founder of SAIL Innovation Lab in Ikorodu, noted that Onakoya has become a beacon of hope for many young people who are working

towards global relevance in their respective endeavours.

According to him, the lab has trained hundreds of young people in tech talent development, data science, games development and other tech and digital skills, with lucrative job placements in the field of Artificial Intelligence and other sectors.

He said:“ On behalf of the good people of Lagos East Senatorial District, I congratulate the Ikoroduborn global Chess Champion, Tunde Onakoya for setting a world record for winning a longest chess marathon.

“This feat has set the stage for many young people in Ikorodu, Lagos East Senatorial District and beyond to reach for the top. He has demonstrated that adversity can never conquer a determined and courageous person. I am proud of his remarkable accomplishment and the honour he has brought to our dear nation.

“I join his family, and all Nigerians in celebrating this great ambassador, who has become a great source of inspiration for many Nigerians, particularly young people.”

letter. We wish you all the best in your future endeavours,” the letter titled, ‘Termination of Contract of Employment,’ stressed.

Earlier, noting that he was acting on the strength of a letter from the Nigerian Electricity Regulatory Commission (NERC), Chairman of the Board of Directors, Dere Otubu, had directed Sanda to leave her position as MD/CEO of EKEDP, since she was seconded from WPG.

Blessing Ibunge in Port Harcourt

The Indorama Eleme Petrochemicals and Fertilizer Limited has dismissed allegations that its operations are polluting the environment of the host communities.

The Head, Corporate Communication, Indorama - Nigeria, Dr. Jossy Nkwocha, dismissed the allegations yesterday, when some investigative journalists visited the facility in Eleme, Rivers State.

Some individuals from non-host communities had dragged Indorama to a Federal High Court in Port Harcourt, alleging that the operations of the company was causing pollution in the host communities environment.

The matter registered in suit number FHC/PH/CS/23/2024 was adjourned till June 6, 2024, for hearing.

The decision led to what appeared like factions within the board, with some members supporting Sanda’s exit and others faulting the chairman’s directive.

“We have received a NERC directive dated March 21, 2024, which instructed Eko Electricity Distribution Plc inter alia... that all staff working for the utility are employed by the utility directly, bound by applicable service conditions that are applicable

to the employees of the utility and paid through the utilities payroll.

"The Disco is obligated to obey these directives due to the powers of NERC as stipulated in the Electricity Act 2023. In compliance with the above directive, all seconded staff from WPG Ltd are being released by Eko Electricity Distribution Plc and returned to WPG Ltd.

"You are hereby relieved of your role, office, and position at Eko

Electricity Distribution Plc effective immediately and returned to WPG Ltd your employer,” a March 25, 2024, memo by the chairman to Sanda read.

However, before the NERC directive, a crisis which was triggered by the issue of suspected ghost workers was already rocking the power distribution firm, after a few employees were alleged to have been complicit in siphoning funds and paying the ghost workers.

Meanwhile, during the investigative tour on the facility, Dr. Nkwocha said their operationalization is environment-friendly and have been operated under national and international standards. He said as a responsible organisation, Indorama is committed to the goal of zero harm, safe and healthy environment by implementing effective environment management system as an integral part of their operations.

Nkwocha explained that to achieve their commitment, the company continues to implement a robust environment management and monitoring system, stating that the environmental performance is acknowledged by regulators and lenders.

Listing the key strategies of the company, Nkwocha said: "We are

in compliance with all applicable national and state environmental regulations and adherence to good international best practices.

"Environmental performance is the major criteria considered for plant technology selection for new development. The environmental criteria considered are low energy per ton of production, low water consumption and minimum effluent generation, low noise from plant operation, minimal purge, and emissions. Extensive environmental and risk assessment studies and incorporation of recommendations in plant design and operational monitoring.

"It also includes installation of best-in-class available detection and control systems for effective operational control and prompt actions. All pollution abatement

equipment is designed for appropriate capacity considering the worst-case scenario. Installed detectors across the plants and all safety devices are designed considering worst-case scenario.

“Before embarking on a new project, detailed Environmental and Social Impact Assessment Study as per the Federal Ministry of Environment guidelines, which is inclusive and covers study of environmental and social components including stakeholder engagement under supervision of Federal Ministry of Environment and Rivers State Ministry of Environment."

Nkwocha added that periodic preventive maintenance of pollution abatement and pollution control infrastructures is carried out in the facility regularly to ensure optimal functionality.

The overall Business Facilitation Act (BFA) performance results for 2023 which was released weekend by the Presidential Enabling Business Environment Council (PEBEC) has indicated that only 10 out of 39 Ministries, Departments and Agencies (MDAs) scored above 50 per cent.

PEBEC, therefore urged MDAs to take concrete steps to improve efficiency and transparency ratings before the end of the 2024 reporting period.

"With only 10 MDAs scoring above 50 per cent and a weighted average score of 34.87 per cent across the 39 MDAs, strategic measures to enhance sector-specific metrics will need to be prioritised. Thus, MDAs must take concrete steps to improve efficiency and transparency ratings before the end of the 2024 reporting period.

"Most importantly, MDAs should as a matter of urgency set-up BFA Implementation Reform Committees. These committees will be responsible for steering BFA implementation initiatives in the MDAs, accelerating the strides taken in promoting a culture

of transparency and accountability.

"This will be in furtherance of the implementation strategies of the eightpoint agenda of the administration of President Bola Tinubu, designed to boost economic reforms for sustained inclusive growth across all sectors,” PEBEC advised.

It urged the MDAs covered in the report to draw insights from empirical data and past BFA reports since 2018 to drive essential improvements in efficiency and transparency.

However, the report indicated that the Nigerian Content Development and Monitoring Board (NCDMB)

had the highest score of 70.07 per cent, placing the agency on top of the chart in efficiency and transparency compliance ranking scale among the others MDAs in the country.

Notably, the detailed analysis of the latest result covering January 2023 - December 2023 also showed other commendable performances as: Standards Organization of Nigeria (SON) 69.5 per cent, Corporate Affairs Commission (CAC) 65.12 per cent, Federal Competition and Consumer Protection Commission (FCCPC), 65.04 per cent, and Nigerian Export-Import Bank, (NEXIM) 63.51 per cent.

Folalumi Alaran in Abuja

STANBIC IBTC ENERGY AND INFRASTRUCTURE BREAKFAST SESSION...

Dangote Mulls Investment in Cement Production Facility in Gombe State

Explains why he slashed diesel price Yahaya says Gombe prime destination for investors

Segun Awofadeji in Gombe

Africa’s richest individual, Aliko Dangote, at the weekend indicated his company's readiness to take advantage of Gombe state’s favourable business environment by locating a cement manufacturing plant in the North-east state.

Speaking to newsmen after a closed-door meeting with the state Governor, Inuwa Yahaya, the businessman noted that Gombe state under the current leadership, has provided a good template for his company to invest.

He maintained that the time was therefore ripe to take full advantage of the huge limestone, coal and gypsum deposits in the state and commence cement manufacturing.

Dangote noted that the governor had provided the necessary investment atmosphere and infrastructure needed to attract and keep

manufacturing companies functioning to the maximum capacity, especially with the setting up of the Muhammadu Buhari Industrial Park, which he described as a novel project. The foremost industrialist praised Yahaya's business acumen and his pragmatic governance style, saying that although government has no business in investment endeavours, yet the governor had been exemplary in his investment drive.

"I commend Governor Inuwa Yahaya for doing his best in terms of laying down the policy framework for a good investment environment. We have had fruitful discussions on our investment plans with the governor.

“In fact Gombe state should be one of the highest producers of cement in the country. It is one of the very lucrative areas for us in terms of cement production. The state has a location advantage; it

is close to Borno and other North-eastern states as well as Cameroon and so on.

“ So, if we produce 20 per cent of what we need here, it will be about the cheapest instead of bringing them over here from other locations. So if we have the opportunity to do so, we will definitely start production here," he assured.

Shedding light on the significant reduction in diesel prices by his company, Dangote said the move was a patriotic gesture that will effectively lower transportation costs and subsequently reduce food prices because of the widespread impact of diesel on everyday commodities.

He cited transportation as a significant contributor to the high cost of goods, particularly in urban centres, stating that by slashing its price, it will help reduce financial burdens on consumers and foster economic stability.

“It is just to demonstrate that we are very patriotic

and when we look at it, the business actually affects the lives of everybody. To produce anything, the major cost is diesel.

“So, when we looked at it, I said we should try and bring down the cost. Because people who have held on to the business for a very long time were profiteering and we decided that we can afford to sell diesel at N1,000 per litre.

“It is about 60 per cent drop; areas like here (Gombe), Borno, Bauchi and the rest, it was selling between N1,700 to N1,800 but right now, I am sure in the next few days, you will not buy diesel at more than N1,100/ litre,” he said.

Also speaking, the Gombe State Governor, Yahaya, appealed to Africa's richest man and President of Dangote Group, Dangote, to consider investing in the state. Yahaya, who painted a compelling picture of the state as a prime destination

IMF, World Bank Must End Colonial Rule, Says ActionAid

Michael Olugbode in Abuja

A group, ActionAid, has said the time was up for the International Monetary Fund (IMF) and the World Bank to stop perpetuating colonial rule on the world.

The call was made at the weekend as the two global financial institutions conclude their Spring meetings in Washington DC this week.

ActionAid, in a statement, said for the last 80 years the IMF and World Bank, had been in existence, not much has changed as global South countries have been pushed further into debt and reeling from the impacts of IMF-imposed austerity measures.

In its 2023 report, Fifty Years of Failure, ActionAid found that despite following the IMF’s advice for decades,

many African countries were in debt distress or facing a high risk of debt distress.

“Austerity measures have blocked the recruitment of teachers, doctors and nurses, even in countries with severe shortages, and has squeezed public sector salaries at a time of a rising cost of living,” it noted. Global Lead on Economic Justice and Public Services at ActionAid International, Roos Saalbrink, said: “Countries in the global South have since the structural adjustment progammes been in perpetual austerity, eroding public health and education.

“At a time of unprecedented climate crisis and debt crisis in the global South, the Bretton Woods Institutions continue to oil the wheels of colonial

exploitation and extraction.

“At the same time global South governments have very little say in the policies coming from these institutions at the centre of the international financial architecture. 80 years is enough.”

The statement said ActionAid was also concerned about a ‘gentleman’s agreement’ which has ensured that the IMF managing director has for 80 years been European and the World Bank president a US national.

Country Director of ActionAid USA, Niranjali Amerasinghe, said, “Kristalina Georgieva's appointment is a continuation of the colonial era ‘gentleman’s agreement’, where rich western powers have the most say.

“It is unacceptable that 80

years later we are still having to call this out. The IMF must change its leadership selection process, its decision-making model, and the harmful practices that keep developing countries in a cycle of crisis.

“As the climate crisis wreaks havoc, global South countries are so deep in debt that they cannot adapt to these impacts. We are calling for debt cancellation and tax justice to help these countries free up the finances needed to build resilience to climate impacts.

“We need to see an overhaul of the international financial architecture with a proper debt workout mechanism, a UN tax convention, to ensure global South governments have a say over policies impacting them disproportionately.”

for investment and economic prosperity, highlighted its remarkable business-friendly environment as well as its status as the best state in ease of doing business in Nigeria. The governor emphasised Gombe's abundance of solid mineral resources as well as the impressive infrastructure, including the sprawling 1,000-hectare Industrial Park situated near the 40-megawatt Dadinkowa power plant. He argued that the strategic

location not only offers ample space for industrial expansion but also ensures access to reliable power supply, a crucial factor for sustained industrial operations.

Besides, Yahaya highlighted the centrality of Gombe State in the North-east, serving as a commercial nerve centre with peaceful environment and positioning the state as an attractive destination for investors seeking stability and growth opportunities.

Firm Restates Commitment to Tackling Growing Demand for DNA Testing Services

Mary

Nnah

Smart DNA, a leading DNA testing centre in Nigeria, has reaffirmed its commitment to tackling the growing demand for DNA testing services in Nigeria with the recent opening of its new office in the Lekki area of Lagos State.

The new facility, it said. aims to serve the Lekki, Ajah, and Epe areas, as well as surrounding communities.

With its commitment to providing fully accredited DNA testing services by the highest international standards, Smart DNA's expansion into Lekki, it said, underscores its dedication to making its comprehensive range of DNA tests more accessible to residents across Lagos and beyond.

“We are thrilled to open our new office in Lekki, bringing our trusted DNA testing services closer to the vibrant communities of this rapidly developing area.

“This strategic expansion aligns with our mission to offer convenient, accurate, and confidential DNA testing solutions to individuals and families across Nigeria.

“At the new Lekki office, clients can access Smart DNA's full suite of DNA testing services, including Paternity Testing, Maternity Testing, Sibling Testing, Grandparent Testing, Diagnostic,

Wellness & Disease Predisposition Testing.

“Smart DNA takes pride in its commitment to simplicity, accuracy, confidentiality, and affordability,” Client Experience Manager at Smart DNA, Esther Ehimare said.

With non-invasive sample collection methods, fast turnaround times, and competitive pricing, the company said it aims to provide a seamless and trustworthy DNA testing experience for its clients.

"We understand the importance of reliable DNA testing results and prioritise maintaining the highest standards of quality and privacy," stressed the Operations Head at Smart DNA, Elizabeth Digia. "Our new Lekki office will ensure that residents in the area have access to our top-notch services, delivered with the utmost care and professionalism.

"Smart DNA's expansion into Lekki is part of its ongoing effort to enhance its nationwide coverage and bring its cuttingedge DNA testing solutions closer to communities across Nigeria,” Digia noted.

Smart DNA was formed in partnership with preeminent biotechnology companies and labs worldwide, offering reliable and accurate results while ensuring confidentiality and affordability for its clients.

L-R: Managing Director/CEO, Tulcan Energy Resources; Dr Tayo Adiatu; GMD, Rainoil Limited, Mr. Gabriel Ogbechie; Chief Executive Stanbic IBTC Holdings, Dr. Demola Sogunle, FNSE; CEO, Geoplex Drillteq Limited, Engr. Wole Ogunsanya; and Managing Director/CEO, Skystone Finance Company Limited, Mr. Ola Olabinjo, during the Stanbic IBTC Energy and Infrastructure Breakfast Session held in Lagos…. recently

2024 MEDIC WEST AFRICA EVENT...

Damagum Survived Because PDP is Bigger Than Atiku, Wike, Abba Moro Says

Explains why FCT minister was at caucus

Chuks Okocha in Abuja

Senate Minority Leader, Abba Moro, has said the acting National Chairman of the Peoples Democratic Party (PDP),Umar Damagum, survived the plot to remove him last week, because the relevant stakeholders of the party unanimously agreed to save his job.

Moro also said the national caucus of the party allowed the FCT Minister, Nyesom Wike, into its meeting last week because he had not been found guilty of any crime to warrant being penalised by the party.

candidate in the 2023 general election, Atiku Abubakar.

Moro, who represents Benue South Senatorial District reacted to reports in some quarters that Damagum’s survival, against call for his resignation, was victory for Wike, and a defeat for PDP presidential

Moro who spoke on Arise News Television Saturday night, said the activities and inactivity of PDP should not be translated to Atiku and Wike, saying the whole issue was not about victory or defeat for anybody but about PDP about providing an alternative formidable platform for Nigerians to look up to.

According to the Senate minority leader, “We cannot translate the entirety of PDP’s activities to Wike and Atiku, out of millions of other members of the party across the country who also have their own thinking and reasons for being in the party.

"The whole issue was not about Wike or Atiku, or victory for Wike or defeat for Atiku, the issue was

Marafa Hits Matawalle for Calling Northern Elders Lightweight Politicians

Asks minister to tender unreserved apology

A founding member of the All Progressives Congress (APC) and coordinator of the Tinubu/ Shettima 2023 Presidential Campaign in Zamfara State, Senator Kabiru Marafa, has countered the Minister of State for Defence, Mr Bello Matawalle, over his alleged offensive remarks on members of the Northern Elders Forum (NEF).

Marafa, in a statement in Abuja, yesterday, argued that Northern elders were neither a burden nor paperweights whatsoever, as alleged by Matawalle.

The Defence Minister had, in a statement with the title, 'Tinubu

Presidency: Northern Elders Forum, a political burden to the North, they do not speak for the region', described the northern elders as 'paperweights and a burden'.

However, Marafa said rather than negatively portray the northern elders, Matawalle should have listed the achievements, programmes and policies, projects of President Bola Ahmed Tinubu in the North and the country as a whole in the first 10 months of his administration.

He said calling the elders of the region, which had and gave the highest number of votes to ensure victory for the Tinubu presidency, was counterproductive.

Marafa alleged that

Matawalle's statement was and a great disservice to the president, who is working tirelessly towards addressing the numerous challenges facing all segments and sectors of the country, among them terrorism, insurgency, economic and financial malfeasance and infrastructural decay, to list a few.

At the moment, Marafa insisted that what President Tinubu needed from his appointees was support, loyalty and hard work to actualise the Renewed Hope agenda conceived to return the country to the path of progress and prosperity, not sycophancy and unguarded statements.

Marafa, who represented Zamfara Central Senatorial District

between 2011 and 2019, called on the minister to withdraw the offensive statement and tender, without delay, an unreserved apology to the Northern elders and Northerners in general.

"In the last one week, I have been inundated with calls from well-meaning and prominent stakeholders in our region and party, the APC, who know my relationship with the President.

"They are worried and disturbed that the unfortunate statement by the Minister of State for Defence, if not addressed, could affect the president's electoral fortunes in our region because it will be seen as if the minister spoke the mind of the president or the presidency.

Navy Holds Route March, Warns Criminals to Steer Clear of Maritime Area in Delta

Sylvester Idowu in Warri

Officers and ratings of the Nigerian Navy Ship Delta (NNS Delta), weekend, held a route march to keep fit with a warning to criminal elements to leave its Area of Responsibility (AOR) or be crushed.

The Naval personnel, who left NNS Delta Base, Warri as early as 6 am, marched along Esisi, Estate, Airport and NPA roads, which spanned over three

kilometers and were led by NNS Delta Commander, Commodore Abba Muhsin and other top officers.

The route march was part of the Nigerian Navy ideals to keep the officers and ratings physically fit and prepared for the task ahead.

Speaking at the end of the exercise, NNS Delta Commander expressed satisfaction with the fitness of his officers and ratings. He said they were prepared

to confront any untoward challenges in the course of securing the maritime domain in its Area of Responsibility, particularly in Delta State.

Commodore Muhsin, therefore, advised criminal elements to leave its Area of Responsibility peacefully and allow peaceful people of the state to live peacefully, conduct their activities and have a conducive environment to operate.

"I will advice those who don't want to change their behaviours for good that NNS Delta Area of Responsibility (AOR) is not for them. So, we are calling on them to leave peacefully so they allow peaceful people live in conducive environment.

"So, for us they should leave. This is a simple task. They should just leave us alone. But as long as you say you will stay with us then definitely we are going to crush you," he warned.

existential. We came together and reasoned together, that in the present scenario where Nigerians are hurting due to the maladministration of the APC government, what do we do to provide an alternative platform for Nigerians to look up to? In that circumstances, we decided to thread with caution so that we don't throw away the baby with the bath water,” he said.

On Wike, he said if the party’s disciplinary committee, headed by Senator Bukola Saraki found Wike guilty of the alleged antiparty activities and sanctioned him, he will stop attending the party’s meetings.

“The constitution of our party is very clear on who is a member and who is not a member of the caucus

of the party and I dare say, at this point, that as a former governor, who is still a member of the party, Nyesom Wike, is a member of the National Caucus of the party.

“If actions had been taken immediately after the elections and people who are perceived to have acted contrary to the desires and yearnings of the PDP have been sanctioned, then we can say that having been expelled or suspended, you can’t be here. but as it is, non of such actions has been taken, so you can’t just ban people from attending meetings.

On expectations from the next NEC meeting scheduled for August 15, he said the party's constitution had a well spelt out succession plan.

Iwuanyanwu: No Faction in Ohanaeze

Commends Igbo patriotism

The President General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu, has said there was no faction in the leadership of the ethnic group.

The retired politician and prominent businessman, said those advertising division in the organisation were economic adventurers who were seeking means to exploit money from the enemies of the Igbo.

Iwuanyanwu, who spoke with journalists yesterday in Port Harcourt, during his first official visit to Rivers State after assuming the office of president general, cautioned the public against listening to those he described as imposters bent on causing disunity among the Igbo.

"The story of faction is funny, there is no faction. Myself, Emmanuel Chukwuemeka Iwuanyanwu, I am the President General, unanimously elected by all the people. The first time everybody supported one person, that is me. Five governors from South East, all the people.

"There are some people who make money by this faction, they

are just using it to make money. For instance, if Ohanaeze takes decision on an issue, they go and take money from enemies of Ohanaeze and write something and claimed is Ohanaeze. Is a criminal matter because they know they never contested an election. They are economic adventurers."

He however, eulogised the Igbo ethnic nationality across the country for their patriotic efforts in nation building.

Noting that the Igbo are scattered across local government areas in Nigeria, Iwuanyanwu said they contributed more to the Internally Generated Revenue (IGR) and GDP of several states in the country than any other ethnic group.

"We have our people all over the world. People have come to accept that Igbo are good neighbours. When they come to a place, they participates with all honesty in developing the place.

“When they make money in a place, they don't carry the money to Igbo land, they invest it there in developing the land with business and houses, and that I think the Igbo should be complimented for that.

Blessing Ibunge in Port Harcourt

Chuks Okocha and Sunday Aborisade in Abuja

L-R: Chief Executive Officer, ABCHealth, Mories Atoki; Head of Specialised Sectors Business and Commercial Banking, Stanbic IBTC, Jane Ike-Okoli; Group Head, Commercial Banking Division (Lagos 2), Access Bank PLC, Ralph Opara; Executive Director, MTN Foundation, Odunayo Sanyo; Group Head, Health Finance, Sterling Bank, Ibironke Akinmade; and MD/CEOm, Aliko Dangote Foundation, Zouera Youssoufou at the 2024 Medic West Africa Event hosted by ABCHealth in partnership with Informa Markets in Lagos…weekend

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L-R: Vice Chancellor, Usmanu Danfodiyo University, Sokoto, Prof. Lawal Bilbis; former President United Nations General Assembly and former Vice Chancellor, Usmanu Danfodiyo University, Sokoto, Prof. Tijjani Bande; and former Director General, National Broadcasting Commission, Dr. Nasir Danladi Bako, at the 38th, 39th, 40th and 41st convocation ceremony of the university in Sokoto…weekend

After Initial Commotion, Aiyedatiwa Wins Ondo APC Governorship Primary Election

Fidelis David in Akure

After the initial dispute that fraught the first round of the exercise, incumbent governor of Ondo State, Mr. Lucky Aiyedatiwa, has been declared winner of the governorship primary of the All Progressives Congress (APC) in the state.

Kogi State Governor, Usman Ododo, who was also the Chairman of the seven-member committee set up by the national leadership of the party to supervise the exercise to elect a standard bearer for the November 16 election in Ondo, announced the winner of the election around 12:43this morning, in Akure, the state capital.

The announcement came hours after Ododo ordered a rerun election in all the 13 Wards of Okitipupa Local Government with total validated registered members of 9,515, because of validated reports that the exercise did not hold in the local government due to late arrival of materials and personnel as a result of logistics challenges.

According to Ododo, Aiyedatiwa polled 48,569 votes to defeat 15 other aspirants in the contest.

The result also showed that Aiyedatiwa won in 16 out of the 18 council areas in the state, while Oke won in only Ilaje local government but came third after polling a total of 14,915 votes in the election.

However, a former member of the House of Representatives, Mayowa Akinfolarin, came second with a total of 15,343 votes, while Senator Jimoh Ibrahim, polled 9,456. A former Commissioner for Finance, Wale Akinterinwa, polled 1,952 votes.

Ododo, while charging the aspirants to set aside their

differences and unite behind the candidate, appreciated all those who participated in the election.

"Your dedication to the service of Ondo State and commitment to serving the people under the platform of our great party are truly commendable.

"We are grateful for your courage and determination to be part of this important process. Let us remember that the real work lies ahead of all of us as members of this great party.

"We must follow the words of

our leader and president, Bola Tinubu, who has maintained that a political contest is a quest to serve as brothers and sisters from the same family, but leaving in different rooms and must therefore remain in the same house after the election has been won and lost.

"So, we are all from the same family and as such, we have no need to abandon the party irrespective of the outcome of the election. We must set aside our differences and unite behind

our candidate," he said.

Meanwhile, the declaration of result came amid controversy and protests by some aspirants, who called for the cancellation of the exercise over alleged irregularities and the replacement of Usman Ododo as chairman of the committee.

Aiyedatiwa alongside 15 others contested the governorship election through a direct primary election.

The aspirants included former Commissioner for Finance, Wale

Akinterinwa; Olusola Oke (SAN); former member of the House of Representatives, Mayowa Akinfolarin; Senator Jimoh Ibrahim; former National Vice Chairman (Southwest), Isaac Kekemeke and former Commissioner, who represented the State on the governing board of the Niger Delta Development Commission (NDDC), Gbenga Edema. Others were Gen. Ohunyeye Olamide Felix, a current member of the House of Representatives,

Jimi Odimayo, Olusoji Adewale Ehinlanwo, Morayo Lebi, Diran Iyantan, Prof. Francis Faduyile and Ifeoluwa Oyedele.

The two female aspirants among them were Funmilayo Adekojo, and Mrs. Funke Omogoroye Judith.

Aiyedatiwa was sworn-in as governor of Ondo State, on December 27, 2023, following the death of his principal, former governor, Oluwarotimi Akeredolu, SAN, who died in Germany after a protracted illness.

Despite Conflicting Orders, Appeal Court to Hear Case in EFCC's Bid to Arrest Bello Today

Alex Enumah in Abuja

The Court of Appeal, Abuja, will today commence hearing in the appeal by the Economic and Financial Crimes Commission (EFCC) seeking to arrest the immediate past governor of Kogi State, Mr. Yahaya Bello.

The hearing is coming against the backdrop of two conflicting orders in the anti-graft agency’s bid to get the former governor to stand trial in the alleged money laundering case to the tune of N80.2 billion.

Last week, Justice Isa Abdullahi of the Kogi State High Court had in a judgement restrained EFCC from harassing, detaining or prosecuting Bello, while Justice Emeka Nwite of the Federal High Court, Abuja, in a ruling delivered same day, ordered the anti-graft agency to arrest and produce Bello for arraignment in court last Thursday.

Ruling in the motion marked:

FHC/ABJ/CR/98/2024, Nwite held,

"It is hereby ordered as follows: ‘That an order of this honourable court is hereby made directing and/or issuing a warrant for the immediate arrest of the defendant to bring him before this honourable court for arraignment. That case is adjourned to the 18th day of April 2024 for arraignment."

The commission had mentioned Bello as the one "at large" in an ongoing trial of the current Chief of Staff to Governor Usman Ododo of Kogi State and one other.

However, due to the inability of the commission to effect the arrest order, the court, last Thursday, adjourned till April 23 for ruling on substituted service of the charge.

At Thursday's proceedings, EFCC's counsel, Mr Kemi Piniero, SAN, who narrated the ordeal of his client at arresting the defendant, due to the intervention of a person that had immunity, hinted of the possibility

of engaging the military in effecting the court order.

He urged the court to compel Bello's lawyer to accept service of the processes, since it had been impossible to serve the charge sheet personally on the defendant.

But Bello's lawyer, AbdulWahab Mohammed, objected to the arraignment of his client before the Federal High Court, Abuja, on grounds of jurisdiction.

While arguing that his Notice of Preliminary Objection must be taken before any other motion, Mohammed faulted the warrant of arrest issued against his client, and maintained that he was not a fugitive.

But Nwite, who said he was yet to read the Kogi State High Court judgement, held that all parties, including the former governor, had to be formally before the court.

What the appeal court would, however, commence hearing in, was

JAMB Sanctions Officials for Barring Hijab-wearing Candidate from UTME Site

Kuni Tyessi in Abuja

The Joint Admissions and Matriculation Board, JAMB, has sanctioned some of its officials for asking a candidate wearing hijab to remove their head cover during the accreditation process before being allowed into the examination hall.

JAMB’s Public Communications

Advisor, Dr Fabian Benjamin, said in a statement on Sunday that the incident occurred at Bafuto Institute, Ile-Iwe Bus Stop, Ejigbo, Lagos.

According to Fabian, the sanctions

were necessary to serve as a deterrent to others, who might wish to toe the same line going forward.

“It’s worthy of note that the Board, as a national institution, has no policy barring candidates from sporting the religious paraphernalia peculiar to their religious persuasions as these are the facts of everyday life in Nigeria, which everyone should have been familiar with by now.

“Furthermore, the Board assures the general public that this issue

would be properly investigated, as it had done in past incidents, to prevent a recurrence and nothing would be swept under the carpet,” he said.

The JAMB spokesman expressed the board’s deep regrets over the incident, stating that upon investigation, the board discovered that the incident or others in the past, is not linked to any of its examination guidelines but rather a product of the misplaced priority of some of the Board’s accredited partners or

officials who claimed ignorance of the Board’s guidelines on accreditation.

He said JAMB’s guidelines on accreditation ensures that all candidates are screened, allowing only female officials to screen female candidates before allowing them to gain entrance into the hall.

He, however, noted that the situation was promptly addressed by a senior official of the board at the centre and the candidate in question allowed in after the usual checks with her hijab.

the motion seeking to set aside an interim order of Abdullahi delivered on February 9, which restrained the anti-graft agency from harassing, arresting, detaining or taking any step against Bello.

Ozekhome Denies Report Linking Him to Call for Mattawale’s Arrest

Alex Enumah in Abuja

Human Rights activist and senior lawyer, Prof Mike Ozekhome, SAN, has dissociated himself from an online publication, quoting him as saying, ‘Why Has EFCC Not Arrested Yari and Mattawale Bello Despite Similar Court Order’.

While describing the article as disturbing and shocking piece of trash allegedly authored by him, he said, "I did not, never did, nor will I ever contemplate spewing out such odious inanity and banal statement devoid of common sense and reasoning."

Ozekhome, in a statement in Abuja, described the write-up as a "Lie from the pit of hell.” He said, "How can I, Matawalle's friend and lawyer of many years, utter such nonsense? How could I be linked with a statement suggesting meddling into a matter that is subjudice; or media trial, ad homine application of laws; or conviction before trial,when the whole world knows me for preaching and writing human rights, due process democracy and good governance for over four decades? I hereby wholly denounce the writeup." To that extent, Ozekhome

urged the public to ignore the statement and its banner headline, because it is false, baseless, unfounded and simply idiotic.

According to him, the report constituted nothing but hallucinations from the fertile imagination of the writer.

"Such statements are spewed by faceless idle internet crawlers that Nobel Laureate, Prof Wole Soyinka, once historically described as "millipedes of the internet.

"It is apposite to note here that the issue of me being the author cannot even arise because the faceless author still quoted an alleged earlier statement purportedly made by me of I defeating the EFCC 11 times.

“I couldn't have been authoring a statement, yet quoting myself, saying, ‘No wonder the renowned senior advocate, Mike Ozekhome described the anti-graft agency with the following statement, EFCC is a paper tiger, I have taken them to court eleven times and defeated them - Mike Ozekhome SAN.

"Please, ignore the statement and consign it to the trash can of history, where it rightly belongs," the statement added.

Their lead counsel, Chief Jibrin Okutepa, SAN, argued that EFCC was empowered to investigate and prosecute economic crimes as set out under sections 6 and 7 of the EFCC's Act.

NIGERIAN-HUNGARIAN CHAMBER OF COMMERCE OPENS IKOYI OFFICE...

L-R: Second Vice President, Nigerian-Hungarian Chamber of Commerce (NHCC),Mr. Stanley Adeyemi; Board Secretary, NHCC, Stella Ebrimoni; First Vice President, NHCC, Mr. Clinton Peters; Director, Nigerian-Hungarian Chamber of Commerce NHCC, Mrs. Izabella Abia-Okon;Hungarian Honorary Consul in Nigeria and Executive Secretary, NHCC, Chief Billy Aigbe; Hungarian Ambassador to Nigeria, Dr. Lorand Endreffy; his wife Mrs Rita Endreffy; President, NHCC, Mr. Spencer Onosode; Dirctor, Mr. Yomi Fadojutimi, and Barrister . Reginald Nwobi, during the official inauguration the chamber’s Ikoyi office in Lagos… recently

Police Rescue Mother, Two Kids from Suspected Kidnappers in Kwara

Hammed Shittu in Ilorin

Operatives of Kwara State Police Command at the weekend rescued kidnapped woman and her two children in the Oko-Olowo area on the outskirts of Ilorin, the state capital.

The suspects, Isah Umaru and Umaru Maanu, were also alleged to have abducted a man identified as Sarafa Atilola in Paasa area of Asa LGA.

Parading the suspects in Ilorin,

The police, however, said that men of the command were able to arrest two suspects through diligent investigations and cooperation of the communities where the abductions took place

Abia PDP Condemns Killing of Businessman

Emmanuel Ugwu-Nwogo in Umuahia

The Abia State chapter of the Peoples Democratic Party (PDP) has expressed “deep sadness over the killing of an Aba-based businessman by a trigger-happy police officer.

Mr. Emmanuel Okocha died last Friday at a hospital in Aba after succumbing to mortal wounds from bullets fired by a policeman identified as Corporal Obagi Njok. The victim was said to have been shot on April 17, 2024, at a police check point in front of Abayi Girls

Secondary School on Aba-Owerri Road, Aba.

An eye witness said Okocha was shot as he was about to enter his vehicle for refusing “to settle” even after his vehicle particulars had been checked and found to be in order.

In a statement issued by the state Vice-chairman/acting Publicity Secretary, Abraham Amah, the state PDP described the death of Okocha as “tragic and senseless.” He stated that: “The incident, which occurred on Aba-Owerri Road is shocking, highly unfortunate, and we condemn this act of violence in the strongest terms.”

President Tinubu Urged to Intervene in Benue APC Crises

George Okoh In Makurdi

President Bola Tinubu has been called upon to intervene in the lingering crises that is threatening to tear the All Progressives Congress (APC) apart in Benue State.

The former APC Youth Leader of Benue South and a Director of Operations, Alia/Ode Campaign Organisation ,Hon Anthony Adah made the call yesterday while interacting with reporters in Makurdi.

He said that if Tinubu do not interven now then the party should forget winning the 2027 elections in the state.

He called on party leaders involved in the crises to sheathe their sword and embrace peace ahead of the next general elections in the State.

He noted that the lingering internal crises rocking the party in the state is getting messier and capable of affecting the well being of the party.

“I humbly call on the president to intervene in Benue state just like he did in Rivers state. Today the state governor has brought in a factional chairman as against the party guidelines that recognised the seating chairman,” he said.

Ododo Vows to Prevent Youth Restiveness in Kogi

Ibrahim Oyewale in Lokoja

Kogi State Government has said the present administration will resist any attempt to derail the prevailing peace and security of lives and property in the state

The state Governor, Usman Ododo, disclosed this during an interactive session with youths and student leaders at the government house in Lokoja at the weekend.

Ododo has ordered the immediate payment of bursary to all students of Kogi State origin in higher institutions across the country.

He also directed that all arrears

of subvention to youths and students associations in the state to be paid immediately.

The governor, who decried attempts by those he described as unpatriotic persons to breach the prevailing peace and stability in the state, vowed to resist any attempt to instigate violent protests in any part of the state under any guise.

Governor Ododo called on security agencies to arrest and prosecute anyone found responsible for any form of public misconduct, capable of negatively impacting the prevailing peace and security of lives and property in the state.

the state Commissioner of Police, Mr. Victor Olaiya explained that “The suspects, Isah Umaru and Umaru Maanu, were also alleged to have abducted a man identified as Sarafa Atilola in Paasa area of Asa LGA”.

He noted that the suspects

allegedly kidnapped Atilola late last year while they abducted the woman and her children in March this year.

He said: “The woman was identified as Afusat Lawal while her children are Taofik Lawal and Aliyu Lawal.

Olaiya said the suspects made use of Atilola’s phone to contact the husband of Mrs Lawal, Hon. Ayansola Lawal, to demand ransom for the release of his wife and children.

Olaiya explained that the police were able to arrest the suspects

through diligent investigations and cooperation of the communities where the abductions took place.

He also disclosed the arrest of a 24-year-old man who planned his own kidnap so he could benefit from the ransom that would have been paid for his release.

Navy Warns Criminals to Stay Away from Maritime Area in Delta

Sylvester Idowu in Warri

Officers and ratings of the Nigerian Navy Ship Delta (NNS Delta) at the weekend held a route march to keep fit with a warning to criminal elements to leave its Area of Responsibility (AOR) or be crushed.

The naval personnel, who left NNS Delta Base, Warri as early as 6 am, marched along Esisi, Estate, Airport and NPA Roads, which spanned over three kilometres and were led by NNS Delta Commander, Commodore Abba Muhsin, and other top officers.

The route march was part of the Nigerian Navy ideals to keep the officers and ratings physically fit and prepared for the task ahead.

Speaking with journalists at the end of the exercise, NNS Delta Commander, Commodore Abba Muhsin, expressed satisfaction with the fitness of his officers and ratings. He said they were prepared to confront any untoward challenges in the course of securing the maritime domain in its Area of Responsibility, particularly in Delta State.

52 Contractors Jostle for Osun RAAMP Road Constructions

Yinka Kolawole in Osogbo

A total of 52 contractors at the weekend participated in the bid opening exercise for the construction of rural roads to aid access and movement of agricultural produces by

the Osun Rural Access and Agricultural Marketing Project (ORAAMP) held at its head office in Osogbo, the Osun state capital. The exercise, according to the Project Coordinator, ORAAMP, Rasaq Okediya, was done in

compliance with the provision of Public Procurement Act 2015.

He said the agency under his watch is committed to fairness and integrity in the selection process, noting that “every contractor will be treated equally as there is no

preference whatsoever among them. “Whoever win any of the bids will do so on the strength of capacity, antecedent and convincing presentation through the documentation that a good job will be done,” he said.

NDLEA Arrests Three Wanted Kingpins, Intercepts Oman-bound Drug Consignment

Michael Olugbode in Abuja

The National Drug Law Enforcement Agency (NDLEA) has arrested three members of an organised criminal organisation which specialises in illicit drug trafficking across Nigeria, South Africa, Mozambique, Europe and America over two months after they were declared wanted. Their arrest followed the recent seizure of the single largest consignment of heroin at the Murtala Muhammed International Airport, Lagos. A statement issued yesterday by the spokesman of the anti-narcotics agency, Femi Babafemi, said a total of 51.9 kilogrammes of heroin had been recovered from members of the drug cartel in an operation that began on February 10, 2024, at the SAHCO Import Shed of the Lagos airport’s Cargo Terminal.

He recalled that the consignment was concealed in 15 cartons of 2300-watt metal cutting machines, with no less than 45 blocks of the illicit substance weighing 49.70 kilogrammes recovered from the equipment, while additional 2.2 kilogrammes was seized at the syndicate’s warehouse in Ayobo area of Lagos.

NHCC Inaugurates New Office to Promote Economic Benefits

Ayodeji Ake

The Nigerian-Hungarian Chamber of Commerce (NHCC) has pledged to foster a cordial business relationship that will bring economic and commercial mutual benefits.

The President of NHCC, Mr. Spencer Onosode , made the pledge and inauguration of the chamber’s Ikoyi office, saying that the opening of the new office was cement the bond between Nigeria and Hungary through sustainable growth in bilateral trade and economic relations.

UgoAliogo

The new office was inaugurated by the Ambassador of Hungary to Nigeria, His Excellency Endreffy Lorand. Onosode restated the function of NHCC as the central organisation for collecting, distributing, and disseminating information of a business nature, and providing access to valuable resources, and relationships that help businesses save money and market their products.

He said: “Hungary is a central European country rich in diverse, beautiful landscapes and natural resources. Part of Schengen and European Union (EU).”

Lagos Calabar Coastal Road: FG Urged to Stick to Original Plan

The Labour Party governorship candidate in Lagos State in 2023 general election, Gbadebo RhodesVivour, has urged the federal government to stick to the original plan of 1.5 kilometres of the 700 kilometres of the project that is actually going through Water Corporation Drive. He averred that if the government stick to the original plan, it would preserve all the businesses, ecosystem and the land for the people of Lagos, adding that there can still be a coastal road and beach where families can come and have leisure time together. He remarked that the coastal road and beach can co-exist, but the way the federal government is embarking on the project shows that there is another interest that they are not being open and honest about that is creating this kind of motivation for this to happen. Rhodes-Vivour, who disclosed this yesterday in Lagos during a media briefing, expressed displeasure that the president is just creating a situation for his friends to appropriate land, and that is what it is starting to look like because there was a road that is supposed to go through Water Corporation Drive that would preserve all of these small, medium-sized businesses, and land.

Wale Igbintade

One of the leading pan-African financial services institution, United Bank for Africa Plc (UBA), said it has filed an application to halt the sale of the assets of a construction firm, Borini Prono and Company

Nigeria Limited over alleged N831,024,818.30 judgment debt.

The bank stated that it has approached the court to vary its ex parte order being relied upon by a purported Receiver Manager, to sell the firm’s assets.

It said it informed the Federal

High Court sitting in Lagos in suit number FHC/L/CS/2628/2023 that the said court order obtained on January 11, 2024, “was obtained by suppression and concealment of material facts.”

The bank warned persons intending to purchase the assets

BACKPAGE CONTINUATION

CLIPPED MANE OF WHITE LION

encomiums on the new governor. It was a cruel twist of fate that Melaye released a viral skit on social media last week mocking Yahaya Bello and gloating over his current troubles. One commentator said it was because Bello “permanently retired Dino from politics,” forcing him out of APC, back to PDP and to a humiliating third place finish in last year’s off-season governorship election.

Within weeks of Bello’s governorship, I personally wondered if his youthfulness was an asset or a liability. In March 2016, a local Kogi newspaper led with a story about how Bello sent bulldozers to tear down six roundabouts around the state capital, Lokoja. When I wrote a column about it, I received a call from a man who said he was the governor’s close friend. He said, “You Mahmud, you don’t know Igalas! Do you know what they buried inside those roundabouts? Do you know that we found bloodstained amulets inside the Government House when we came in?”

He offered to handover the phone to the governor for more explanation, but I said there was no need, let me just offer a piece of personal advise. If your predecessors buried amulets inside round abouts, you didn’t have to demolish the round abouts. Since it is spiritual and not physical, why not bring your own marabouts and babalawos to shout incantations, sprinkle water or oil and spiritually destroy the buried amulets, instead of ripping apart roundabouts built by your military and civilian predecessors?

A month later, in April 2016, there was serious altercation in the Kogi State House of Assembly, apparently between pro and anti-Bello factions, leading to its shutdown and policemen taking over the premises. The House of Representatives even ordered the Police Inspector General to shut

down the assembly to avert break down of order. Three years later in 2019, Bello got the Assembly to impeach and remove his deputy governor, Simon Achuba. A court however quashed the removal a year later but it was Pyrrhic victory because Achuba’s term in office has already expired. Among other controversies, Yahaya Bello was said to be at loggerheads with his own traditional ruler, Ohinoyi of Igbirra Alhaji Ibrahim Attah, who died last year. Ahead of last year’s general election, there was the outrageous spectacle in Kogi when Governor Bello sent bulldozers to rip off the road leading to PDP candidate Natasha Akpoti’s village in order to deny access to her and to election officials.

Then there were loud cries from Kogi that Bello was not paying salaries as and when due, that pensioners were being owed their dues for months or even years on end. Even when, in 2015 and 2016, President Buhari advanced loans to state governments to clear the debts, Kogi civil servants and pensioners were still being owed. Given that kind of record, no one expected Yahaya Bello to be re-elected in 2019. In the event, Kogi State’s off-season governorship election of 2019 was probably the most shameful in this country since NPN’s “win” of Ondo State in 1983. Thugs unleashed violence all over the state. Remarkably, Yahaya Bello’s supporters publicly celebrated the chaos, with one women’s group posting a video of themselves, dancing and singing that anyone who opposed Bello will hear ‘Ratatata,” i.e. the sound of gunfire.

Then came the Covid-19 lockdown of 2020. Governor Yahaya Bello, without any supporting medical evidence, declared that Kogi State was free of Covid. This was most improbable, since Covid had been detected all

THE NAIRA ABUSE PALAVER

Naira abuse. Why selectively arrest the duo when everybody is involved in some form of Naira abuse either by trampling, spraying ,mutilation or rumpling ? Truth is that it is nearly impossible for any law enforcement organisation to find and apprehend every perpetrator. Resources exist in limited supply . It is simple wisdom to begin with people who have disproportionate influence. This is perhaps what EFCC has done. First common ground is that both of them enjoy considerable social media influence whether for positive or negative reasons depending on your own value system. These two cases, though similar, are following different paths. Bobrisky, in court, pleaded guilty and has since been handed six months imprisonment. Cubana Chief Priest did not plead guilty, so his case will go to full trial, putting the law to the test. This court case will assist us in providing answers to some critical questions: what are the societal ramifications of Naira spraying, and how can Naira misuse be proven? Is there need to amend the existing law and make it more relevant to the challenge? Will this fresh wave of enforcement stop the epidemic of Naira abuse ? Regardless of how the legal proceedings turn out, they have highlighted how important it is to take the triplet societal plague of poor social behaviour, Naira abuse, and their ancestor-mother corruption very seriously.

I have identified six pillars to control or stop Naira abuse: Fight corruption because it is an enabler for abuse of the Naira. The incestuous relationship between corruption, illicit financial transactions and Naira abuse is well established . Second,the government should deepen knowledge and change people's orientation by embarking on mass enlightenment, people must understand clearly what constitutes Naira abuse and what the punishment is for such offence . Third, address cultural issues relating to Naira abuse through community engagement. People gifting money to celebrants at occasions is no crime but the manner of gifting is the issue. Fourth, government should renew the push for digital transactions. Fifth, government must strengthen the structures of law enforcement. It is not just police and EFCC matter . The

the way from the coast to the Sahel, and Kogi is smack in-between. When a medical team from the anti-Covid task force in Abuja arrived in Lokoja to discuss the matter, Bello detained all of them, saying they must be quarantined lest they import Covid into his state. He was the only governor in Nigeria who adopted this stance. His colleagues were scrambling to build Covid testing facilities and treatment centers. In contrast, I was in Akwa Ibom State at one time and saw the great lengths which then governor Udom Emmanuel went to erect Covid treatment facilities, including oxygen generating plants.

Then there was Yahaya Bello’s incredible run for the presidency in 2022. Given his rather sorry record of rule as governor, it was remarkable that he thought of himself as presidential material. When Northern APC governors near-unanimously brushed aside President Buhari’s wishes and conceded their party ticket to the South, Yahaya Bello was the lone rebel. There was a viral video of him storming out of the meeting, shouting invectives, while Borno State Governor Babagana Zulum pursued him, pleading with him to be patient and accept his colleagues’ decision. Hausa social media wags claimed that Zulum said, “Kiyi hakuri!” playing on Kanuri speakers’ tendency to mix up genders when speaking in Hausa. Yahaya Bello then erected a splashy campaign secretariat at Wuse Zone 2. I don’t know if it is one of the houses that EFCC seized. Hafsat Abiola-Costello, late MKO’s daughter, was his campaign’s director general. I received an invitation to attend a meeting at the place and meet Yahaya Bello, which would have been my first time ever of seeing him. When we turned up at the appointed hour, Mrs. Costello said the governor suddenly travelled out of Abuja that morning, but that a new meeting would be set up. It was never done. On the night of the APC convention, while nearly 20 aspirants were stepping down one by one for Asiwaju Bola Tinubu, Yahaya Bello gave a fiery speech, said he did not come that far to step down and he bagged 47 votes. His supporters are now saying that EFCC is pursuing him at the behest of the Tinubu Presidency because of that stance. In fairness to EFCC, it long ago charged his nephew and friend to court for alleged money laundering but could not charge Bello alongside them because he had immunity from prosecution.

judiciary must upend its knowledge on the subject matter . Sixth, government must be impartial and objectively enforce the law to change cultural norms and public behaviour that defaces the Naira. This may entail revisiting and improving the law.

CBN , Police and the EFCC should study different models of changing public behaviour in the past and draw up a model and strategy to deal with the issue of Naira abuse, especially since it has become embedded in some cultures. Good examples abound abroad and in Nigeria. The British government employed various strategies to change public behaviour

regarding spitting and other personal vices. Spitting in public places was prohibited by local bylaws or municipal regulations but it is social persuasion that gave the result . These laws serve as deterrents and can result in fines or other penalties for offenders. They launched public awareness campaigns, collaborated with community stakeholders, and monitored and enforced the law. However, most of all, they leveraged social norms and peer pressure to influence behaviour and encourage individuals to conform to accepted standards of behaviour by highlighting the societal consensus against spitting and certain destructive behaviours and

Unless he flees from Nigeria, Yahaya Bello is likely to be in court soon. The man who hid him, Governor Ododo, is in Akure to conduct controversial APC governorship primaries. His action last week is likely to haunt Ododo for a long time, a governor who willfully obstructed anti-corruption agents from performing their duty in the service of his political godfather. As for Yahaya Bello, whose rich White Lion’s mane has been severely clipped by recent events, he could draw some comfort from the fact that dozens of former state governors were charged to court for alleged corruption since 2007 but only six of them were ever convicted, one of them by a foreign court. Three did time, one paid a small fine in lieu and one got the conviction quashed. One former governor even got a perpetual injunction to stop all security agencies from charging him to court, and that order is still subsisting after nearly two decades. With his loyal godson ensconced in Government House of a state where incumbents tend to have their way, the White Lion of Kogi could yet regrow his mane.

showcasing positive role models who embody desirable conduct. Today, the practice of spitting publicly, urinating on the road corners, and other public nuisances are controlled to the barest minimum.

In Nigeria, good examples of efforts to change public behaviour can be seen around us. Most were successful to a greater degree. The government should revisit some of these campaigns and learn from them.

A model that seems to be working in Akwa Ibom State is the State Ethical and Attitudinal Reorientation initiative . Before 1999, the Akwa Ibom people experienced a severe social epidemic, "The Pervasive and prevalent House help Syndrome," which gained widespread notoriety and led to the dubbed moniker "Ekaette" for nearly every female domestic helper. The administration of Obong Attah took up the task of reorienting the Akwa Ibom people's mindset. He established the Ethical and Attitudinal Reorientation Commission (EARCOM) in Akwa Ibom and gave them the responsibility of raising public awareness about the importance of "minoring" vices and "majoring" in moral principles.

The struggle has persisted throughout the regimes, and Pastor Umo Eno's present administration appears to be taking it to newer, more profound heights by hiring assistants for each ward and unit and charging them to carry out the Commission's work of value reorientation in remote areas. As bait, he is using the incentivization and social support model, drawing on the country's current food and hunger crisis to reach out with the message of value reorientation. Today, a negligible number of Akwa Ibom daughters are house helps , and the majority are highflyers in the professions and business.

The success story of Akwa Ibom is a model that the federal government can replicate. Changing public behaviour requires a multifaceted approach that combines legislation, education, community engagement, social support and enforcement efforts. By addressing the underlying factors contributing to undesirable behaviours and promoting positive alternatives, governments can effectively shape public attitudes and foster a more socially responsible society.

Bobrisky

Former Eagles Defender, Kingsley Onye, Tips Amuneke for Eagles Job

Femi Solaja

Former Nigerian international, Kingsley Onye, has thrown his weight behind Emmanuel Amuneke to emerge as the new Super Eagles head coach.

Onye, fondly called ‘Mature’ in his days with Enugu Rangers, was one of the star players for Flying Eagles at the Under-20 World Cup in Moscow in 1985.

Speaking with THISDAY last night on telephone, Onye stressed that Amuneke have all the requisite qualifications to lead the senior Nigerian team.

“Amuneke is the right man for the job of the head coach of the

Super Eagles because he has been there before,” began Onye. He stressed that “Amuneke started out with the Nigeria youth team, the Golden Eaglets by assisting Manu Garba to win the U-17 World Cup in 2013 and as head coach, led the same Golden Eaglets to win the cup again in 2015. “As a senior team coach, he qualified a long-standing absentee team, Tanzania for the 2019 Africa Cup of Nations. His record as a player is also very impressive with AFCON 1994 and Olympic Games in Atlanta in 1996 and was also the first Nigerian to score two goals at the World Cup,” Onye pointed out in the telephone chat.

He also pointed at Amuneke’s rich CV to include playing at the African Games and for top clubs in the continent as he was a member of the Egyptian giants, Zamalek.

“In Europe, he played for Sporting Clube de Portugal and then Barcelona before an injury ended his career.

“He can get the players to be in fraternity the way he speaks with them. You also know that

United scraped into the FA Cup final after defeating Championship side Coventry 4-2 in penalty shootouts last night.

The Red Devils threw away a three-goal lead against Coventry in an epic semi-final at Wembley. Regulation time ended 3-3 before the shootouts.

In a very modern-day thriller, United came out on top in a penalty shootout they were losing at one stage after Casemiro started the spot kicks tamely.

But after Bradley Collins saved

United's first kick, from Casemiro, Andre Onana denied Callum O'Hare, then unsettled Ben Sheaf with some verbal jousting - and the Coventry captain missed - allowing Rasmus Hojlund to win it. What the watching United coowner Sir Jim Ratcliffe made of it would be interesting to know. Thirty-four years ago, Mark Robins' goalscoring heroics in the FA Cup kept Sir Alex Ferguson in a job. Who knows what damage Robins' Coventry side have done to Erik ten Hag's chances of keeping his?

The newly inaugurated Acropolis Gardens and Residences Golf Course in Okija, Anambra State has been receiving support from new partners with the plan of deepening the impact of the game of golf in the country.

Nonso Osanakpo, the Business Development Manager of Kates Associates Industries Limited, has said that the facility complements one of the core existence of his organisation, as a promoter of personal care, hence their need to partner with the project.

According to him “As the number of golfers grows through the establishment and promotion of great facilities like this, the personal care of the people would be impacted. This project complements the objective that we have pursued as an organisation for the past five decades.

“While our company has several products that can support this project, the Doobai perfume and roll-on is what we believe tallies with the planned golf development activities in the state and the country,” he noted.

Obioma Ogakwu, Acting Facility Manager at Acropolis said that the support, further confirms that the golf project is worthy of all the investments.

“It has been encouraging so far. We have had several organisations including the Professional Golfers’ Association (PGA) of Nigeria, the Nigeria Golf Federation, and other key stakeholders in the golf industry in the country throw their weight behind us since the golf course was commissioned on April 6th in Okija.

most players in Nigeria have ego problems. But not with Amuneke because he has seen it all at top club like Barcelona and also, can communicate with the players to act the way he desires.

“Those pushing for the appointment of a foreign manager instead of an indigenous coach should consider that the Nigerian economy of the Nigeria Football Federation can not sustain the hiring

of a foreigner. We cannot afford to spend our scarce foreign exchange paying for a coach who will most of the time stay abroad while his bill is running here and then only saunter in when there is a match,” Onye pointed out.

Nigeria Football Federation (NFF), has admitted that a substantive head coach will be announced for Super Eagles in the next few days ahead of Match-day three and

Rivers United now have 37 points from 25 matches, while Sunshine Stars were sucked into the drop zone after they were held to a 1-1 draw ANOTHER

She said, apart from Doobai, Nestoil and Tecon have also shown support for the project.

BELLINGHAM WINS CLASICO FOR REAL...

Jude Bellingham scored a late winner as Real Madrid defeated Barcelona 3-2 in a Spanish El Clasico...last night

NPFL: Enugu Rangers Falter, Enyimba Narrow Gap at the Top

Rivers United made their way out of the relegation zone after a 2-0 home win over NPFL leaders Enugu Rangers, while Enyimba stayed on course to challenge for the title after hard-fought 1-1 draw at Sunshine Stars in Akure.

Nigeria’s Motorsports promotion outfit, Work and Play, has said the recently concluded 8th Ondo Auto Rally in Ilara-Imokin, has helped it to deepen inclusion and collaboration among different industry players.

Ade Ojuoko, the President of the group speaking on the impact of the Ondo Auto Rally concluded earlier in the month, said that the event had the biggest attendees compared to the other editions.

According to him, “Growth comes in different forms and for us, it has been interesting considering that we are experiencing it both in inclusion and collaboration across the Motosports space.”

He said that the 8th Ondo Auto Rally as the single biggest gathering of the Motorsports community includes Racers, enthusiasts, tourists, and lately service providers, needed to consistently explore more innovative offerings for its ardent followers.

“This year, we expanded the offering of the event to host the second edition of the X-kart Series that debuted in Shagamu a few weeks back, along with some of the traditional races that the Ondo Auto Rally is reputed for,” he added The Director General and Chief Executive of the National Automotive Design and Development Council,

Joseph Osanipin, also commended the use of the Motosports platform to create a sustainable traction for tourism, employments and commerce in Ondo State.

“Its is a great feat to have sustained the idea after eight years. The Work and Play deserve must be commended and we encourage more stakeholders to partner them.

He said they need to infuse the X-Kart calendar into the Ondo Auto Rally as a way of pursuing collaboration and ultimately lending support to an important aspect of the Motorsports project development that will benefit the industry and the country at large.

The Jos club now have 50 points from 31 matches.

Super Eagles forward, Cyriel Dessers, scored twice as Rangers cruised to the final of the Scottish Cup at the expense of Hearts who lost 2-0 on Sunday evening.

Dessers opening effort in the fifth minute was a cool finish from inside the box. He then smashed home also from inside the box his second goal in the 78th minute.

Rangers will now battle bitter city rivals Celtic in the final next month.

Dessers has now netted 19 goals for Rangers this season.

Emmanuel Amuneke... tipped to step into Jose Peseiro's shoes by visiting Enyimba. The away draw by second-placed Enyimba meant they are now two points behind Rangers. Plateau United climbed to fourth position after a 1-0 home win over Remo Stars.

Kano Pillars were comfortable 4-0 winners against bottom club Gombe United, Kwara United improved their survival hopes with a 1-0 home win against Akwa United, while Katsina United saw off Sporting Lisbon 2-0. Veteran Rabiu Ali rolled back the years with a brace for Pillars against Gombe.

Organisers of the first Rivers State International Marathon have said that the state is extending its frontier as the treasure base of Nigeria to becoming an international destination for sports. Idah Peterside, head of media of the first full International Marathon to be held in the South South region of Nigeria says the event is a confirmation of the state's intention to make it a destination of sort for sports globally.

“The International Marathon has come at a time we have become, undisputably, the most performing state in sports in Nigeria. This has contributed, immensely, to the peace the state is enjoying now

especially since His Excellency Siminalayi Fubara came on board as the Executive Governor of the state,” said Idah. Idah stress that “it is time to let the whole world see how beautiful and peaceful Rivers State is as well as open up its tourism potential.

“A healthy state will undoubtedly be a wealthy state. Sports, all over the world has helped in keeping people healthy and one of the surest ways of encouraging people to keep and stay healthy is through road running events.

The former Super Eagles goalkeeper, media officer and pundits on cable television, Supersports, stressed that the introduction of the 5km race was designed to get the young and the not too old to join the race as Rivers State hopes to encourage regular kip fit events after the race.

Meanwhile, registration is still open for intending runners, both professional and social, who want to make history at the race.

“Regular running strengthens your heart, increases your aerobic capacity and helps maintain healthy blood pressure and cholesterol levels. It boosts one's immune system and enhances fitness. We want to create a culture of regular running and jogging and we want to kickstart it with the Rivers International Marathon,” added Idah.

MISSILE

Agbakoba to Aviation Minister

“ThejoboftheMinisteristocreatethepolicyenvironmenttoenableactorstonow play. If Keyamo wanted to do a national carrier now, we would still be where we are. But he realised that it wasn't his role. His role was policy. So, he took the Chairman of Air Peace, Allen Onyema...in London, and said to them, this is the man who we want to givetherightstofly,andheinsisted..." -FormerNBAPresident,OlisaAgbakoba,urges theAviationMinister,FestusKeyamotoenacttheFly Nigeria Act.

VIEW FROM THE GALLERY

Clipped Mane of White Lion MAHMUDJEGA

The biggest drama on the Nigerian national political scene last week was Wednesday’s botched attempt by the Economic and Financial Crimes Commission [EFCC] to arrest former Kogi State Governor Yahaya Bello and charge him to court on charges of allegedly laundering N80 billion. That is a staggering amount. Bello, whose personal alias is White Lion, ruled the state for eight years, during which it received a few billion naira every month as Statutory Allocation from the Federation Account, plus a much smaller internally generated revenue, IGR. To be able to siphon away N80 billion, the lean Kogi treasury must have staggered and reeled.

The spectacle of EFCC agents laying a siege on Bello’s Abuja house while his police and DSS guards prevented entry, his protégé and kinsman Governor Ahmed Usman Ododo arriving with a large contingent of police escorts and an army of thugs to spirit Bello out of the house while the EFCC men stood askance, only to later declare Bello wanted, to get Attorney General of the Federation to advise

him to surrender and advise all Immigration posts to look out for him in case he tried to flee from the country, while two courts in Lokoja and Abuja issue contradictory orders to arrest

and not to arrest Yahaya Bello, was a script fit for a Nollywood epic.

Was this all what it came to, after a glorious and sobbing start? Yahaya Bello’s governorship of Kogi State should not have been but for the most spectacular case of Divine Intervention in Nigeria since the death of General Sani Abacha in 1998. APC candidate Alhaji Abubakar Audu had virtually won the November 2015 off-season election when he died. If he had been declared winner, his running mate Abiodun Faleke would have inherited the mandate, just like Supreme Court made Boni Haruna to inherit Atiku Abubakar’s abandoned governorship mandate of Adamawa State in 1999. But because the election was declared inconclusive, APC was asked to nominate a replacement and, with President Buhari’s hidden hand, it nominated Bello, a former member of Buhari’s CPC who finished second in its primary election.

On the day of Bello’s swearing-in on January 27, 2016, the media celebrated him as the youngest governor in the country. Some of that youthfulness manifested very early. While delivering his inaugural speech, Yahaya Bello

DAKUKU PETERSIDE

BENEATH THE SURFACE

broke into a trembling sob as he paid tribute to his mother. Ok, because of the age factor, most of the people who get to become governors in this country do not have their mothers around to witness the glorious moment. The luckiest men in this regard were Alhaji Umaru Yar’adua and Dr. Goodluck Jonathan. Not only did their biological mothers witness their rise to governorship, but also witnessed their rise to the Presidency. While President Jonathan’s mum lived in the Glass House of Aso Rock Villa, Yar’adua’s mum, who is still living, only managed to make a journey to Otta, at the head of a family delegation, to thank former president Olusegun Obasanjo for railroading her son into State House. Sometimes a governor’s living mum complicates governance matters. Such as Abia State Governor Orji Uzor Kalu’s mum, who was said to have wielded enormous influence when her son was governor in 1999-2007.

While Yahaya Bello sobbed at his inaugural, the occasion’s master of ceremony, Senator Dino Melaye, electrified the event and poured

The Naira Abuse Palaver

There is no disputation that Naira abuse or more specifically the act of spraying money at social events has become an acceptable norm or cultural practice in Nigeria. Nigerians have a cultural affinity for lavish social gatherings. Many people regard these occasions as a means of displaying social status and wealth. Spraying Naira notes, and other currency notes, at events progressively appear to be the ultimate way to flaunt your social standing. Even burials that are supposed to be sober moments have been turned into considerable fanfare. This has created a new industry of mint note trading and events management. All of these constitute the social infrastructure of Naira abuse. A new dimension of the social infrastructure of Naira abuse is the arrival to the scene of the nouveau rich. Society has labelled them with all sorts of nomenclature: Yahoo Boys, Yahoo Plus, and 419.

Nigeria has since recognized the dangers of Naira abuse but that is not the focus of this

piece. The government has made rules and laws to check it and provided enlightenment campaigns to educate people. The Central Bank of Nigeria( CBN) gave Naira abuse as one of the reasons why it is pushing for digital-based financial transactions. Naira abuse, like its ancestor-mother social epidemic of corruption, has remained stubborn and refused to go away.

There is ambiguity about what constitutes Naira abuse. The Central Bank of Nigeria Act of 2007 in Section 21 of the CBN Act 2007 clearly defines Naira abuse and prescribes various punishments to deter citizens from abusing the Naira. They include - spraying banknotes at events; writing on banknotes; stapling banknotes; tearing banknotes; dancing or stamping on Naira; defacing the bank notes with substances or ink, oil; selling currency banknotes; mutilation of the Naira note; money bouquets. However, law enforcement has been lax. It is commonly believed that the laws against Naira abuse are either symbolic or desuetude because

no one is held accountable, everyone gets away with it, and things have normalised.

The social phenomena of Naira abuse, especially the spraying of money, have become an epidemic in Nigeria. Lately , it is of significant concern. We have exported this to many parts of the world, and social media is replete with evidence of this in weddings and other social events attended by Nigerians in different parts of the world.

Malcolm Gladwell's book, "The Tipping Point: How Little Things Can Make a Big Difference" explores the idea that social phenomena, like trends and epidemics, often reach a tipping point where they suddenly become widespread. He identifies three key factors that contribute to this tipping point: the Law of the Few (the idea that a small number of people have a disproportionate influence), the Stickiness Factor (how messages or ideas stick in the minds of people), and the Power of Context (how the environment influences behaviour).

Through engaging anecdotes and research,

Gladwell illustrates how understanding these factors can help individuals and organizations create or manipulate trends and epidemics. The book emphasizes the importance of paying attention to small details and understanding the social dynamics behind spreading ideas and behaviours. The fundamental concepts of the book about Naira Abuse are twofold. First, the cultural context or external environment provides the soil for bad or good behaviour to grow and spread. Second, key people with remarkable personalities can cause or stop social epidemics because of their social profile or social network.

There is a link between the recommendation of Malcolm Gladwell and the arrest and prosecution of Idris Okuneye better known as Bobrisky, a cross-dresser and social influencer, for Naira abuse, and the arrest and ongoing prosecution of Cubana Chief priest Pascal Okechukwu in connection with

Yahaya Bello