MONDAY 25TH MAY 2020

Domestic Investors Dominate as Stock Market Attracts N756bn Goddy Egene The Nigerian equities market attracted a total of N755.54 billion between January and April 2020, showing an increase of 32.7 per cent compared with N569.16 billion invested in the market

in the corresponding period of 2019.

The trading numbers obtained from the Nigerian Stock Exchange (NSE) showed that domestic investors dominated the transactions in the first four months of the year, accounting for N450.48

billion or 59.6 per cent. On the other hand, foreign investors recorded N305.05 billion or 40.4 per cent.

A monthly analysis of the transactions showed that the market recorded N235.46 billion in January, with domestic investors accounting

for N165.14 billion or 70.1 per cent, while foreign investors traded N70.32 billion or 29.86 per cent.

In February, investors executed trades worth N148.50 billion and domestic investors dominated with N77.16 billion or 51.9 per

cent, while foreign investors accounted for N71.34 billion or 48.0 per cent.

The value of trading increased to N242.91 billion in March still led by domestic investors who accounted for N132.69 billion or 54.6 per cent. Foreign investors,

however, traded N110.22 billion or 45.4 per cent.

But the figures went down in April as investors traded N128.67 billion with domestic investors, maintaining the lead, recording N75.49 billion Continued on page 9

South-east Govs Seek Laws for Regional Security Agencies.... Page 8 Monday 25 May, 2020 Vol 25. No 9177. Price: N250

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Assembly Speakers Hail President’s Executive Order on Financial Autonomy Govs yet to discuss presidential directive, Says Fayemi Our Correspondents Speakers of Houses of Assembly have hailed President Muhammadu

Buhari for signing Executive Order No. 10, which seeks to facilitate the implementation of financial autonomy for state legislature and judiciary as

enshrined in section 121 (3) of the 1999 Constitution as amended.

But state governors have maintained silence on the

presidential directive as the chairman of their forum, Nigeria Governors’ Forum (NGF), Dr. Kayode Fayemi of Ekiti State, told THISDAY

that no comment would be made until they meet over it.

“Governors have not met on the order, so we have no reaction,” he said in a text

message yesterday.

The speakers, however, described it as an impetus Continued on page 9

Buhari Laments Rising COVID-19 Cases, Says Upsurge Frightening Patients turned back as hospital beds fill up in Lagos Private healthcare facilities not reporting pandemic deaths for fear of closure Mortuaries full in Cross Rivers, Edo, Imo, Kogi, Lagos 313 fresh cases raise count to 7,839 with 2,263 persons discharged, 226 dead Omololu Ogunmade, Onyebuchi Ezigbo in Abuja, Chinedu Eze and Martins Ifijeh in Lagos Concerned about the unabated spread of COVID-19, President Muhammadu Buhari yesterday described the situation as frightening and appealed to Nigerians to adhere to the guidelines issued by the Ministry of Health to stay safe from the disease.

The president’s concerns perhaps gained strength from reports yesterday that Lagos, the main epicentre of the disease, has run out of beds for patients of the disease, many of who are now being turned back at isolation and treatment centres in the state.

Continued on page 9

THE FIRST FAMILY...

L-R: President’s children, Zahra and Amina; wife, Aisha; President Muhammadu Buhari; other children, Halima, Aisha and Yusuf, during the Eid-ul-Fitr celebrations at the Presidential Villa, Abuja ...yesterday godwin omoigui

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Analysts Urge FG to Boost Food Production to Curb Inflation

James Emejo in Abuja and Nume Ekeghe in Lagos

The latest report on inflation in Nigeria has elicited reactions from stakeholders with analysts urging the federal government to ensure that stimulus packages get to farmers to enhance the production of food locally so as to curtail inflation, which rose to a two-year high of 12.34 per cent in April.

The last time inflation was around this level was in April 2018 when it was 12.48 per cent.

The Consumer Price Index (CPI), which measures inflation further increased to 12.34 per cent (year-on-year) in April compared to 12.26 per cent in the preceding month, according to the statistics released by the National Bureau of Statistics (NBS) last week.

To this the end, experts said it was necessary to stimulate farmers to boost food production considering that the borders may not be opened anytime soon due to the impact of the COVID-19

pandemic.

Commenting on the inflation outcome and its implications on monetary policy, Professor of Finance and Capital Markets at Nasarawa State University, Prof. Uche Uwaleke, told THISDAY that inflationary pressure should be expected in view of the border closure and increased demand for food on the back of the COVID-19 lockdown.

He added that the rate of increase in food inflation could have been higher if the federal government had not released grains from the country's strategic reserves during the lockdown put in place to contain the spread of the virus.

Uwaleke, a former Imo State Commissioner for Finance, said: "The rising inflation rate poses a challenge to monetary policy, especially in the face of the need to stimulate economic activities through a lower interest rate environment and rescue the economy from recession.

"So, it puts the Central Bank of Nigeria (CBN) in a dilemma and I expect the MPC to weigh the balance of risks in favour of economic growth in their next meeting.

"Because the impact of COVID-19 on the economy will feature prominently in the next MPC meeting, my expectation is that members will vote to retain all the parameters, including the MPR at 13.5 per cent to take care of rising inflation and the pressure on exchange rate except the Cash Reserve Ratio, which may be dropped from 27.5 per cent to possibly its previous level of 22.5 per cent to allow the banks more liquidity room.

"I sense the CBN governor may seize the opportunity of

the meeting to announce some heterodox measures aimed at aiding financial intermediation by the banking sector."

Also, the Head of Research at Agusto Consulting, Mr. Jimi Ogbobine, said: “The inflation figures are triggered by three major factors - firstly is that we are just recovering from the lockdown, curfew, and ban on interstate movement.

"And that affected food prices in different parts of the country, especially when you look at the fact that food is produced in the Middle Belt and up north and then transported to the south. “One of the upsides of inflation is that fuel prices have currently dropped due to the overall drop in crude

prices and Nigeria’s new policy of a monthly review of prices. “Long-term inflationary risks are still there. And one of the long-term inflationary risks is the value of the naira, especially when you look at the parallel market and the official market where there is still a widening gap.

"And as many small and medium scale enterprises resort to the parallel market of their goods and series, especially when importation commences, it could portend higher inflationary risk. So, the apex bank has to ensure stability in the foreign exchange market to moderate inflation risks in the later part of the year when we see an improved return to normalcy.�

On his part, the Head of Research, Afrinvest West Africa Limited, Mr. Abiodun Keripe, also called for increased support to food production.

Keripe said he believed the pressure would continue and forecasts an average of 14 per cent for the year 2020.

He said: “The increase was expected and we think this would continue till the half year. Our outlook for the year is that inflation would average about 14 per cent for the year.

"The increase in VAT, higher food prices due to the continued closure of the land borders, and now foreign currency pressure adding to that rate. So, the increase in the inflation rate is expected and it should continue.�

69 Nigerians Trapped in Lebanon Return Home

The federal government has disclosed that 50 female victims of trafficking and 19 other persons who were stranded in Lebanon have been evacuated to Nigeria.

The Minister of Foreign Affairs, Mr. Geoffrey Onyeama, who made the announcement, said they arrived in the country yesterday.

He acknowledged the support of the Lebanese government and the Lebanese community in Nigeria in ensuring safe evacuation of the affected persons.

“With the financial and logistic support of the Lebanese Government and Lebanese community in Nigeria, 50 trafficked Nigerian girls and 19 stranded Nigerians were successfully evacuated from #Lebanon and arrived Nigeria today,� he tweeted. “Profound gratitude to Ambassador Houssam Diad, Lebanese Ambassador in Nigeria and Ambassador Goni Zannabura, Nigerian Ambassador in Lebanon.�

The minister did not give further details on the evacuees.

BARKA DE SALLAH...

Emir of Kano, Alhaji Aminu Ado Bayero (left), and Kano State Governor, Alhaji Abdullahi Ganduje, during Eid-ul-Fitr prayers in Kano‌yesterday

FG Plans to Harmonise Salaries, Wages of MDAs, Says Ngige Onyebuchi Ezigbo in Abuja President Muhammadu Buhari has mandated the presidential committee on salaries and wages to review and realign earnings of employees of ministries, agencies, and parastatals.

Minister of Labour and Employment, Senator Chris Ngige, who disclosed this in an interview with THISDAY at the weekend, said part of the objective is to check disparity in payment of salaries and wages as well as prone the running cost of governance.

He also said the motive of putting together the committee was to address the rising cost of personnel in the budget of the federation.

"The president set up a committee called the presidential committee on salaries and wages last year of which I am a co-chair, it is being chaired by the Minister of Finance and Planning with the Head of Service as a member for us to see how we can address the rising cost

of personnel in the budget of the federation. If you look at the 2020 budget cost, about one third is set aside for the running cost; we are talking of about two-third of the budget being consumed by what you call recurrent expenditure," he said.

Ngige added that the committee had made some suggestions to the federal government on how to fuse some parastatals that are doing the same job.

"We also sent to the government our opinion on the staggering disparity in payment of salaries and wages of people who do the same quantum of work and for people who have the same qualification but one have found himself in the ministry and another has seen himself in an agency or parastatal.

"Some are in the Nigerian National Petroleum Corporation (NNPC) and take humongous pay that is 10 times of their classmates. Some are in the Central Bank of Nigeria (CBN) and some are in other

parastatals in aviation and the differential is much compared to the person in the ministry.

"So, these are the broad terms of references of our work. Part of the work is that we are going to talk about and recommend collapsing or fusion of some agencies that are doing identical works and scrapping of some agencies that are already dead," he said.

Contrary to reports that the federal government has adopted the Oronsaye-led committee's report, the minister said the committee would have to evaluate the role of agencies and parastatals and ensure that they are structured to perform optimally.

He explained that the establishment of the new ministry of humanitarian affairs, disaster management and social development was a product of such creative thinking by the government.

"We are looking at something that is like the work Oronsaye did, but in Oronsaye's committee report there are some good aspects of it and

there are many things that are not good there. Even if you take the White paper, it disagreed in the main with about one-third of Oronsaye's recommendation, about 40 per cent of the recommendation and another 20 – 25 per cent of the recommendation.

"The white paper committee never supported the recommendation or said no to the recommendation they just said noted. So, there is no way one can use it for a very essential report because the white paper committee didn't do good work. What I am telling you, in essence, is the area of reference of the Oronsaye's committee. If our government sets up our own committee like we are doing now in, what the presidential committee on salary and wages are going to do now is to put our recommendation into that of economic sustainability committee. Luckily, the finance minister is a member and I am also a member of the Economic Sustainability Committee (ESC) So, the unions have no need

to cry and shout.

"When such a thing is done it isn't done with a view to creating job losses. Two things can happen: the first benefit to the government is that if you scrap an agency or fuse an agency with another one the running cost will be saved because people don't think about money being given as salary and wages, no; you also talk about the running cost of the agency which is sometimes 50 – 50 with the personnel cost.

So if you remove that running cost the recurrent expenditure would have gone down too. " If you have staff, you have two directors of finance and two directors of this and that, you can move staff from those agencies and go to ministers where there is need for such officers and redeploy them.

For example, we created a new ministry of humanitarian affairs, disaster management and social development and most of the staff in this new ministry were sources from so many other ministries and agencies of government.

"So this is the kind of scenario that will play out when you have this merger and fusion."

With regard to fears being expressed by labour unions over the possible loss of jobs in the federal establishments following the implementation of the report of the committee, Ngige said though job loss was not intended, the mechanism would be in place in such a way that there would be no pain.

"So, the loss of jobs wouldn't be on the front burner, but even if there must be loss of job it will be done in a way that the redundancy law of the country, which is in the trade union act will be applied because people will have to see why they all have to go and some will be offer the opportunity to go away from the job and take upfront benefits like payment of salaries up till the day they go and stuffs like that. The mechanism will be done in such a way that there would be no pain. The unions and workers have nothing to fear," he said.

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South-east Govs Seek Laws for Regional Security Agencies Urge IG to revert to agreement on community policing Christopher Isiguzo and Gideon Arinze in Enugu Governors of the five Southeast states yesterday urged their Houses of Assembly to enact laws to enable them set up a security agency in each of the five states that would offer regional protection to the people.

They said such laws would be in tandem with the South-east Joint Security programme aimed at combating the myriads of security problems facing the region.

The governors, in a communiquĂŠ issued at the end of their closed-door meeting in Enugu, disagreed

with the Inspector General of Police, Mr. Mohammed Adamu, on his recent communication with the governors on community policing composition.

They said it breached the agreement they reached during the IG’s last visit to the zone.

The forum Chairman and Governor of Ebonyi State, Chief Dave Umahi, who read the communiquĂŠ to journalists at the end of their meeting, said the governors would not begin the implementation of the community policing arrangements until the programme reflects their earlier agreement.

Monarch Who Lived 141 Years Dies in Oyo Vanessa Obioha Residents of Kajola Local Government Area of Oyo State were thrown into mourning as the grim reaper paid them a surprise visit. It claimed the life of Onilua of Ilua, Oba Samuel Afolabi.

The monarch, who is believed to be the oldest in the inland state of Oyo in south-western Nigeria, joined his ancestors on the morning of Saturday, May 23.

News about his death flooded online with awe and respect from all. Traditional rulers, who are a major part of the Yoruba political system, are highly revered and oftentimes, expected to live to a ripe old age.

Afolabi, who was aged 141, has become a notable example of a centenarian who defied the odds, particularly at a time when the world is reeling from the devastation

of coronavirus.

Born in 1879 during the reign of Adeyemi 1 of Alowolodu, who was the last independent Alaafin to rule the Oyo Empire, little is known about Afolabi's younger years in the public domain. However, it's reported that the late monarch was a modest farmer, who traded his produce at Arigidana, Baba Ode in Itesiwaju Local Government Area before he was called to occupy the throne after the demise of Oba Majaro in 1981 through the unanimous consent of the kingmakers. He was 102 years old when he became the king in the rock city.

Throughout his 39-year reign, Afolabi didn't steal the spotlight but contributed greatly to the growth and development of Ilualand.

The monarch was said to have died of age-related illness.

“The South-east governors and their leaders request the IG to revert to our initial agreement reached on community policing at Enugu,� they said.

On COVID-19, the meeting, which had in attendance Governors Ifeanyi Ugwuanyi (Enugu State), Senator Hope Uzodinma (Imo State), and Mr. Ude Chukwu (Deputy Governor of Abia State); President General of Ohanaeze Ndigbo, Chief Nnia Nwodo; former governor of old Anambra State, Senator Jim Nwobodo, as well as the Chairman of the Christian Association of Nigeria (CAN), South-east zone, Bishop Goddy Okafor, urged the Igbo living outside

the region to obey all extant pandemic orders, including a presidential directive on interstate movement restriction, WHO and NCDC hygiene protocols, presidential task force and directive of governors of wherever they live.

They also agreed to engage the Nigeria Centre for Disease Control (NCDC) to scale up testing for the virus in the South-east.

On the economy, the governors resolved to set up committees in their various states to work with the federal government, the Central Bank of Nigeria (CBN) and the Nigeria Sovereign Investment Authority (NSIA) in their various programmes lined

up to rejig the economy, especially in areas like agriculture, SME and solid minerals.

They also agreed to hold a virtual meeting with the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, on how to link the Southeast state capitals with the gas pipeline alongside the pipeline programme of the federal government, which is running from Imo State to Lagos State.

The governors applauded President Muhammadu Buhari and the Aviation Minister, Senator Hadi Sirika, on the progress of work at the Akanu Ibiam International Airport, Enugu.

They assured the people that with what has been achieved so far, they were hopeful that the airport would reopen soonest, subject to COVID-19 and federal government's programme.

They also expressed satisfaction with the progress of work at the Second Niger Bridge and commended the president, the Minister of Works and Housing, Mr. Babatunde Fashola, and Julius Berger for their commitment to complete the project on time.

The meeting also asked the leadership of Ohanaeze Ndigbo to submit a working document during their next meeting on the South-east Stabilisation Fund.

WELCOME HOME...

Borno State Governor, Prof. Babagana Zulum (left), and Chief of Army Sta, Lt-Gen. Tukur Buratai, during a visit by the army chief to the governor in Maiduguri‌yesterday

Pantami, Dabiri-Erewa Squabble over Office Space NCC denies ejecting commission Emma Okonji in Lagos and Adedayo Akinwale in Abuja Minister of Communications and Digital Economy, Dr. Ali Pantami, and the Chairman of the Nigerians in Diaspora Commission (NIDCOM), Hon. Abike Dabiri-Erewa, are embroiled in a cold war over office space, THISDAY has learnt.

However, the Nigerian Communications Commission (NCC) has denied that NIDCOM was ejected from the Digital Economy Complex of NCC. But, in a statement yesterday, NIDCOM’s Head of Media, Mr. Abdul-Rahman Balogun, said the eviction of NIDCOM staff from the fifth floor of NCC Annex office in Abuja, was not a mere "allegation" as claimed by the NCC. He explained that the

fifth floor of the complex was allocated to NIDCOM

by NCC in June 2019 and handed over by Mrs. Maryam Bayi, its Director of Human Resources.

Balogun said due to lack of basic facilities in the complex, NIDCOM staff could not move in until October 2019.

He stated that while its chairman was on official assignment with President Muhammadu Buhari in Addis Ababa, Ethiopia on February 9, Pantami gave the staff one week to pack out.

Balogun said within 48 hours of the quit notice, security operatives attached to the complex evicted them on February 11, citing orders from the minister.

Balogun said: “On the allegation that NIDCOM did not move into the offices when allocated, this is untrue, false accusation

and contradictory to the statement of NCC to the effect that NIDCOM property was warehoused and intact in the annex. “It is our humble opinion that an agency of government ought not to be shabbily treated in a dehumanising manner. The Hon. Minister should have acknowledged the fact that the aim of NIDCOM for using the office spaces was not for personal functions but rather for governmental functions with regards to Diaspora engagements. “The Hon. Minister should have seen the need to give the chairman of the commission audience so as to allow the commission’s staff to evacuate their belongings by themselves rather than breaking into the offices without their consent.�

But in a swift reaction, NCC Director of Public Affairs, Dr.

Henry Nkemadu, said in a statement yesterday that the commission never ejected the NIDCOM from the Digital Economy Complex of the NCC. He said: “Following the completion of the NCC building at Mbora in Abuja designated as NCC Annex and the acute shortage of accommodation space for the staff of the commission in the NCC Head Office at Maitama in Abuja, the board of the commission directed the decongestion of the head office building. “Some of NCC departments had started moving to the new office complex of five floors when discussions were held between the NCC and the Diaspora Commission to enable the Diaspora Commission also utilise any free offices within the complex.

"The fifth floor allocated to them had to be used to accommodate other departments from the NCC Headquarters to ease the congestion. NCC’s offer to house the Nigeria Diaspora Commission was predicated on the long-held position of NCC that agencies of government will achieve more through strategic collaboration, partnership, synergy and sharing to the extent allowed by relevant laws. “During this period, NCC secured approval for the commissioning of the office complex by President Muhammadu Buhari and the launch of four important projects of NCC. “NCC has not withdrawn the offer but had hiccups arising from the preparations for the visit of President Muhammadu

Buhari to inaugurate the Communications and Digital Economy Complex and launch other projects relating to the mandate of government. “The board and management of NCC took a decision to ensure that every activity in the building was in line with the federal government’s digital agenda.

Incidentally, after the offer of the office spaces to the Diaspora Commission, the Director-General, Mrs. Abike Dabiri-Erewa, had not visited the complex to take possession of any of the office and also the commission had not started using any of these spaces as offices. As it is usual in ensuring security and accountability before, during and after presidential visits, the building had to be cleared to allow for only known and identifiable persons to have access within the complex.�

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PAGE NINE BUHARI LAMENTS RISING COVID-19 CASES, SAYS UPSURGE FRIGHTENING In fact, there has been an uptick in confirmed cases in the last one month with incidences rising from 981 as at April 24 to 7,839 as at yesterday with 313 new cases recorded. Also, 2,263 persons have been discharged, while 226 have died.

The tally, therefore, shows an increment of 6,858 cases in one month on the back of an expansion in the nation's testing capacity. As at yesterday, Nigeria has so far tested 44,458 people for the virus.

According to the Nigeria Centre for Disease Control (NCDC), of the 313 fresh cases recorded yesterday, Lagos has 148 new cases, the Federal Capital Territory (FCT) 36, Rivers 27, Edo 19, Kano 13, Ogun 12, Ebonyi 11, Nasarawa and Delta eight each, Oyo seven, Plateau six, Kaduna five, Kwara four, Akwa Ibom and Bayelsa three each, Niger two and Anambra one.

It said: "Nigeria has so far recorded 7,839 cases of COVID-19, with 2,263 persons discharged, while 226 have unfortunately lost their lives."

Reports are also rife of private health care facilities failing to report virus-induced deaths, preferring to attribute them to other causes, including heart disease, in

order to avoid closure for decontamination.

THISDAY also gathered that morgues, particularly in Lagos, Cross River, Edo, Imo and Kogi states have become full, raising concerns about the impact of the pandemic on the nation’s health system as mortuaries in less endemic states experience a rise in the number of bodies deposited.

Efforts to get reactions from the Minister of Health, Dr. Osagie Ehanire, and Lagos State Commissioner for Health, Prof. Akin Abayomi, last night were unsuccessful as calls and messages to their cell phones were not replied.

But speaking after observing Eid-Fitr prayers in his residence at the State House, Buhari appealed to Nigerians to adhere to the guidelines issued by the Ministry of Health to stay safe from the disease.

The president, who commended the minister of health, whom he said has done well so far, added that the pandemic had brought both the developed and the developing countries to the same level.

Warning Nigerians to be meticulous about the potency of the disease, the president argued that developing countries, including Nigeria,

had a lower rate of casualties than the developed countries.

He said: “Nigerians can see that the COVID-19 has reduced us, both the developing and developed countries, to the same level.

"In fact, we have the least casualties than they have. “So, it’s a very frightening development and I advised Nigerians to be very careful and take the advice of the Ministry of Health.

"Minister of Health has been doing very well, speaking and educating the citizens on the deadly virus. So Nigeria, we should be very careful."

Buhari, who prayed for a favourable raining season this year, expressed his desire for farmers to return to the farm now to pave the way for an abundance of food provisions for all.

According to him, having sufficient food production this season is imperative because Nigeria does not have funds for food import.

He said: “I hope the raining season would be bountiful so that we get a lot of food. “I wish the farmers will go to farms and save our lives so that we can produce what we need in sufficient quantity so that we don’t have to import food. “In any case, we don’t have

any money to import food.

So, we must produce what we are going to eat.’’ Also speaking, the First Lady, Mrs. Aisha Buhari, who observed the Eid prayer with her husband, thanked both the Ministry of Health and the Nigeria Centre for Disease Control (NCDC) for their efforts in containing the disease. “I wish to thank the Federal Ministry of Health and also the NCDC for their efforts in combating the pandemic,’’ she said.

Health Ministry to Receive Malagasy Mixture Wednesday Ehanire has said his ministry would formally receive the Madagascar herbal therapy on Wednesday.

He said on receipt of the herbal mixture, his ministry would forward it to NAFDAC and the Nigerian Institute for Pharmaceutical Research and Development (NIPRD) to proceed with further scientific investigation.

Ehanire, who spoke in a Channels Television programme last night, said he had received some proposals from traditional medicine practitioners on local remedies for the virus and that such

proposals had been sent to NAFDAC and NIPRD for further investigation.

Answering question on the herbal drug from Madagascar, Ehanire said: "Yes, Madagascar drug is supposed to be handed over to the Ministry of Health at the next working day (Wednesday). That is when we will pick it up and send to our research institutes, first to NAFDAC and then to Nigerian Institute for Pharmaceutical Research and Development (NIPRD).�

He said the agencies would validate the drug and determine how it could be used for the treatment of COVID-19.

On the rate of infections in Nigeria, the minister stated that Nigeria has not reached its peak.

Ehanire noted the need for Nigerians to take precautions so as to avoid witnessing horrifying figures as occurring in Europe.

He said no drugs or vaccine had been approved yet, adding that the general belief is that vaccines would not be discovered before the next 18 months.

He added that he had forwarded proposals from traditional medicine practitioners to relevant

institutions for analysis.

On the Chinese medical team, the minister stated that he went to the airport to receive the 16 tonnes of medical supplies from China and not to receive the medical team as being insinuated.

He explained that it turned out that the Chinese medical team was in the same flight with the medical supplies from China.

He said questions about the Chinese team should be directed to the Ministry of Interior.

The minister said the world has not yet found a curative drug for the virus, adding that “as things stand now, the world is not yet near to finding any cure for the virus."

Ehanire said there was a new finding that the virus could be discharged when a person shouts, adding that such a development had reemphasised the need for people to ensure social distancing.

On efforts being made at ramping up testing, Ehanire said the ministry was expecting 100,000 cartridges this week for use in operationalising the GeneXpert machines assembled to assist in increasing COVID-19 tests

House of Assembly’s Committee on Information, Hon. Jeff Mba, said the development would enhance the legislative activities of the assembly.

He said the executive order showed that the nation’s democracy was growing as it would help in strengthening the legislature and stop the over-dependence on the executive for routine financial engagements. “This is indeed a welcome development. It means we’ve started building strong institutions which have been lacking in our system,� he said.

The Speaker of Ekiti State House of Assembly, Hon Funminiyi Afuye, also hailed Buhari’s action, saying it would inject efficiency into law-making for good governance.

According to him, "This action was a constitutional issue and it was in tandem with the rule of law that the legislative arm should be made more efficient.

"But this shouldn't be a reason for legislative autocracy or as a means for conflict between the executive and the legislature.

"The implementation should be geared towards robust inter-governmental relations that will bring about good governance anchored on the rule of law.�

In Osun State, the Speaker, Hon. Timothy Owoeye, described the order as a victory for democracy.

His spokesman, Mr. Kunle Alabi, said the order would enhance the effectiveness of the legislative arm of government. “With this, the principles of separation of power and check and balance will be seen to be in full operation,� Alabi said.

Chairman of Adamawa State House of Assembly Standing Committee on Legislative Compliance and Special Duties, Hon. Alhassan Joda, also commended Buhari for signing the order.

He explained that the executive order would guarantee the financial autonomy of the state assemblies and judiciary.

He said some states could not take independent decisions or perform their constitutional functions without recourse to their governors.

The APC lawmaker attributed the poor performance of state legislatures over the years to not being financially independent.

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ASSEMBLY SPEAKERS HAIL PRESIDENT’S EXECUTIVE ORDER ON FINANCIAL AUTONOMY to boost legislative performance and service delivery by state legislatures.

Chairman, Conference of Speakers of State Legislatures in Nigeria, Hon. Mudashiru Obasa, said the body was excited over the president’s order, adding that it was a Sallah gift to the legislators.

Obasa, who is also the speaker of Lagos State House of Assembly, told THISDAY: "No doubt, this order will further make state legislatures independent of the executive arm of their various governments.

"It would also boost healthy competitions among state legislatures in pursuit of advancements and developments.

"This is the best gift the President, His Excellency, Muhammadu Buhari, has given the legislative arm of state governments at this Sallah. And coming at the end of the Ramadan, it means God truly answered the prayers of the members of state legislatures through the president."

The president had last Friday signed the executive order, directing the Accountant-General of the Federation to give effect to the Fourth Amendment of the Constitution signed in 2018.

The order was a product of the outcome of the implementation committee on

financial autonomy for state legislatures and judiciary set up by the president.

The committee had the mandate to ensure the implementation of the financial autonomy in line with section 121(3) of the constitution as amended.

While commending the members of the implementation committee for putting in their best and meeting its mandate, Obasa urged the state Houses of Assembly to see it as a further push to unite the country and contribute more to its growth, peace, and progress.

Speaker of Ebonyi State House of Assembly, Hon. Francis Nwifuru, described Buhari’s action as a welcome development.

In an interview with THISDAY, the speaker's spokesman, Mr. Leo Oketa, quoted the speaker as saying that the state assembly had been enjoying autonomy under Governor David Umahi. “So, what His Excellency, the president did was giving more clarification and also more directive to make sure that the financial autonomy is implemented 100 per cent.

He exercised his constitutional powers and you must obey based on Section 5 of the constitution that every section of the constitution must be obeyed no matter who the person is and that is what

Mr. President did by issuing Executive Order No. 10,� he said.

The Majority Leader of Kano State House of Assembly, Hon. Kabiru Dashi, told THISDAY in Kano that the executive order was long overdue.

"I can assure you that this financial autonomy will make us more independent and accountable in line with the tenets of democracy as enshrined in the Nigerian constitution,� he said, adding: "Financial autonomy will help us to continue representing our people effectively. This is a victory to all the legislators across the country.�

Chairman of Plateau State House of Assembly Committee on Information, Hon. Peter Dasun, also described it as a welcome development. “Indeed that’s what we’ve been clamouring for. I consider it a victory for democracy because we would have a clear-cut autonomy and authority to decide on what to do with our resources within our arm of government and we would have a wider and better opportunity to deliver the needed dividend of democracy to our people,� he said.

The Speaker of Akwa Ibom State House of Assembly, Hon. Aniekan Bassey, said the new order would reposition governance in the three arms

of government.

"The financial autonomy granted to the two arms of government does not call for ego-tripping, nor for muscleflexing with the executive arm of government. It is meant for cooperation amongst the tripod.

"It is a means to reposition governance in the three arms of government, while each arm works assiduously in changing the social, political and economic narratives of our people," he said.

In Anambra State, the Chairman of the House Committee on Finance, Hon. Obinna Emenaka, praised Buhari for signing the order, saying autonomy of the legislature would enhance both the quality of law and strengthen lawmakers in discharging their duties. “I must commend President Buhari for signing that executive order. I now understand what he meant by belonging to everybody and to nobody. “If I were not a fan of Buhari, the signing of this executive order would have made me become one. Don’t forget that when you are talking of financial autonomy, you are also talking of independence and this is needed for lawmakers to function well,� he said.

In his reaction, the Chairman of Enugu State

DOMESTIC INVESTORS DOMINATE AS STOCK MARKET ATTRACTS N756BN or 58.67 per cent compared with foreign investors that transacted N53.18 billion or 41.33 per cent.

Further analysis of the trading numbers showed that the value of domestic transactions executed by retail investors outperformed institutional investors by eight per cent. However, a comparison of domestic transactions in April and March 2020, revealed that retail transactions decreased by 32.89 per cent from N60.23 billion in March 2020 to N40.42 billion in April 2020. Similarly, the institutional composition of the domestic market decreased by 51.6 per cent from N72.46 billion in March 2020 to N35.07 billion in April 2020.

Market analysts said this was the period of lockdown

as a result of the COVID-19 pandemic that is still impacting the nation’s economy negatively.

NSE Divisional Head, Trading Business, Mr. Jude Chiemeka, had last year expressed worries over the low level of domestic investors’ participation in the market; the exchange had to develop strategies to encourage more investors. “There are about three million retail investors in the Nigerian capital market, representing only three per cent of the total adult population in the country. The exchange recognises the need to improve investor participation, and is leveraging recent capital market initiatives such as the know your customers (KYC) requirements for capital

market investments, as well as promoting the introduction of globally competitive investment products with low entry thresholds, to achieve financial inclusion goals,�

Chiemeka said.

On how to further encourage more domestic investors to play in the equities market, the Group Chief Executive Officer, United Capital Plc, Mr. Peter Ashade, had said policies must be put in place to grow disposable income (lift people out of poverty and improve gross national income). “Moreso, there is a need to increase the penetration of financial literacy and instill investor’s confidence in the financial markets. It is interesting to note that the attitude of Nigerians

towards investing in collective investment scheme has greatly improved in the past few years.

"This is seen in the growth of the Net Asset Value of mutual funds, which had grown by a whopping 330 per cent to about N1.2 trillion between 2016 and now. Clearly, there is still room for improvement and growth, as the total investment remains below 1.0 per cent of the country’s nominal gross domestic product (GDP),� he said.

Ashade explained that the major factors underlying modest interest in investing in mutual funds remain the low level of investor education, the question of trust, and the quick money mentality that dominates the mindset of the uninformed investors.

“Despite the high incidence of poverty rate in Nigeria, individuals that can afford to save and invest are often not aware of the available investment opportunities or do not trust the system, especially as they might have fallen prey to fraudulent money doubling schemes. "The best way to improve this is to promote financial literacy and educate the populace on the advantage of investing and the way they can reap the benefits through investing in mutual funds.

"Additionally, to solve the problem of lack of trust, the investment management firms must be very open with their operations and inform investors that they are regulated by Securities and Exchange Commission (SEC),� he said.

TOP GAINERS NGN NGN % 11PLC 19.40 213.90 9.9 CONOIL 1.90 21.00 9.9 UACN 0.75 8.35 9.8 PZCUSSONS 0.45 5.15 9.5 BUACEMENT 3.40 39.00 9.5 TOP LOSERS NGN % CAVERTON 0.29 2.61 10 AFROMEDIA 0.03 0.28 9.6 SUNUASSURE 0.02 0.20 9.0 ROYALEXCHANGE 0.02 0.20 9.0 MAYBAKER 0.09 3.06 2.8 HPE Nestle Nig Plc â‚Ś1,000.00 Volume: 259.575 million shares Value: N2.881 billion Deals: 5,605 As at Friday 22/5/2020 See details on Page 31

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MONDAY MAY 25, 2020 •T H I S D AY

MONDAY MAY 25, 2020 • T H I S D AY

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T H I S D AY ˾ MONDAY MAY 25, 2020

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

The Weeping Governor of This Era Nseobong Okon-Ekong and Vanessa Obioha write that Governor Ben Ayade of Cross River State may not have done anything new with his recent emotive announcement of tax exemption for Cross Riverians. It is simply a repeat of a promise he made three years ago.

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ver the weekend, Governor Ben Ayade of Cross River State triggered an emotional uproar on social media with the viral video of him lamenting the plight of poor Cross Riverians and waiving the taxes for some low-income earners. It was a good acting that perhaps may land the governor an Oscar if the tears were more emotionally convincing. But in a country like Nigeria where little doses of kindness irrespective of the motive of the giver are greeted with loquacious sentiments, Ayade is vaunted as the ideal leader that Nigerians need, a tactic that worked perfectly for his image launderers.

By now, one must be used to Ayade’s lachrymose disposition. It is becoming a fixture for his campaigners to show that the governor is really working. To be sure, it is not the first time Ayade is announcing his plans to help the poor in the society by waiving their taxes. In 2017, after signing the appropriation bill of N707 billion, Ayade spoke passionately about the low-income earners and how he would love to relieve them of the burden of tax payment. At that January meeting, he warned that anyone earning less than N50, 000 a month, hotels with financial challenges should be excluded from paying tax to the state.

“I have seen poverty in my personal life and I know what that small N2,000 means to them,” he said.

He added that, “no nation, no state and no administrative authority can tax her people to prosperity. God has given us an elevated platform of authority to use our intellects and support them and not to suppress them. Why would the government put a burden on people earning less than N1, 000 a day with wife and children, shopping in the same market with the rich, who earn over N300, 000 monthly? I would rather tax my intellect to prosperity than taxing my people because we have sufficient education, exposure and experience, which we need to bring to bear for the prosperity of our people, which is why they elected us.”

Three years later, Ayade is still repeating his promise with more tears, only this time, it is categorised as a COVID-19 palliative for a state that is yet to record a case of the ravaging Coronavirus.

Prior to his outburst in 2017, Ayade reportedly broke down after visiting one of the camps where the displaced persons of Bakassi Peninsula which Nigeria ceded to Cameroon are kept in 2016.

At the rate of his emotional breakdown, Ayade may well be on his way to replace the late governor of Imo state, Sam Mbakwe as the ‘weeping governor ’ of this era.

Ayade to an extent is a lucky man.

He was raised by devout parents and Catholics who laid the foundation for him to become the man he is today. Having achieved different educational feats as an environmental microbiologist, he ran for a seat in the Senate in 2011 and held the position of Vice-Chairman, Senate Committee on Environment and Ecology; as well as a member of different committees on education and drugs.

The Peoples Democratic Party (PDP) member finally occupied the seat of the Number one Citizen in Cross River in 2015 after defeating the All Progressives Congress (APC) candidate in the state.

He won his second tenure in the 2019 general election.

Ayade

Mbakwe

Like his predecessor, Ayade has his own plans to make the coastal state which has a land area of 7,782 sq, millimetres an attraction to investors, neglecting structures that he met in place. He flaunted the Bakassi Deep Seaport and the 276 kilometres super highway when he assumed office in 2015. The projects are yet to be completed and early this year, he paid a visit to the President Muhammadu Buhari to update him on the progress of the twin projects.

Ayade told newsmen passionately at that January briefing that the projects will be an alternative to the Lagos ports that are overwhelmed with daily demands.

“Nigeria needs to create an alternative corridor so that we can decongest Lagos ports. A major alternative port needs to exist and close to the North and that will link the eastern flank. And Calabar is the closest and with the new superhighway that cuts travel time from seven hours to about one hour forty-five minutes, it is the best option to go with a cargo rail running by the side,” he said.

From the tone of his address, it was apparent that Ayade is confident that these lofty projects will fetch him a place in the stars.

But Cross River state, home to over three million people, is yet to regain the glory of its yesteryears since Donald Duke, the former governor ended his

governorship tenure.

Known as a mini-Nigeria, the state was touted as a tourism and investor hub of the nation with the beautiful landscape that looks like a painting from God’s artbook.

It was Duke that imagined a flourishing state for tourism, investment and urban development. His mantra was to make Calabar the cleanest city and indeed it was for the period he lasted in power.

Duke didn’t make a theatrical display about his projects. He rolled his sleeves and went to work immediately.

He initiated the Obudu Ranch International Mountain Race which attracted contestants and visitors from other countries; created a special reserve fund for the state meant to cushion the effect of unforeseeable economic challenges that may occasion uncertainty in the state’s Internally generated revenue, as well as monthly allocation from the federal government.

To further boost business and tourism in the state, he initiated the Tinapa Free Zone and Resort project which gulped over $350 million on initial development before phase one opened in 2007. The resort was also in association with the Calabar Free Trade Zone to combine business and recreational functions with duty-free shopping but the ambiguity surrounding the true ownership of the FTZ had left the majestic resort in comatose

His insistence that low-income earners should not pay tax is good news to the layman but in essence, Ayade has not done anything extraordinary. Last year, the state internally generated revenue was N22,597,063,882.55, out of which a big junk of that sum came from the broad term ‘other taxes’ which may include levies from traders and okada riders. Pay-As-You-Earn contributed 28.8 percent to the state’s IGR followed by MDA’ revenue and road taxes with 15 percent and 3.8 percent respectively

condition.

Senator Liyel Imoke who succeeded Duke appealed to the Federal Government to take a stake in the project, and to remove uncertainty about Tinapa’s status, which is hindering investment It was Duke who organised Africa’s biggest party known as the Calabar Carnival that was a spectacle to locals and visitors.

Recent editions lacked the Midas touch of Duke and drew little attention.

On his part Imoke built the International Conference Centre in Calabar which in recent times has been used for events.

As it is his turn to also leave an imprint on the state, Ayade is not stopping his ambition at his twin projects but also would like to portray himself as the governor of the people.

His insistence that low-income earners should not pay tax is good news to the layman but in essence, Ayade has not done anything extraordinary. Last year, the state internally generated revenue was N22,597,063,882.55, out of which a big junk of that sum came from the broad term ‘other taxes’ which may include levies from traders and okada riders. Pay-AsYou-Earn contributed 28.8 percent to the state’s IGR followed by MDA’ revenue and road taxes with 15 percent and 3.8 percent respectively.

Ayade’s argument is that the government has not done sufficiently for the citizens, thus does not have the right to burden the less privileged with taxes. By making this statement, Ayade indirectly sings of his incompetence since he assumed office. If the poverty level of the state where he ruled for five years has not improved, then he needs to task his brain harder for the prosperity of his nation.

There is no clear implication of his new exemptions to the coffers of the state government according to a professional accountant Oluwaseun Bakare.

“In reality, the exempted persons contributions have no known value to the state’s IGR. The government makes more from taxes paid by individuals in paid employment and established companies.

We know the situation in Nigeria that most people rarely pay their taxes and the governor is probably aware that the exemptions cost nothing to the state.”

Bakare argued that the people that will mostly be affected by the governor’s order are the middle men who collect these payment dues for the government. “These taxes were not going to the state directly.

They were probably collected by the private primary enforcers and by the time the monies exchanged hands, only a few pennies would get to the state’s pockets at the end of the day. These middle men will bear the brunt of the exemptions.”

In a state where the middle class is in non-existence, such tax exemption for less privileged workers is a piece of good news.

For the hawkers or market traders who may be dues on a weekly or daily basis, having that break is a breath of fresh air. In their eyes, the governor is truly a hero to the poor.

Bakare argued that if the governor wanted to make an impact, he should have done a tax exemption that is encompassing.

“If he should exclude companies and high-income taxpayers, then the state would probably suffer because it is not an untenable plan. The governor is just riding on a wave of popularity with this law.”

MONDAY MAY 25, 2020 • T H I S D AY

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T H I S D AY Ëž Ëœ Í°ÍłËœ Í°ÍŽÍ°ÍŽ

COMMENT

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

FIRS AND ITS CRITICS

Oluwole Osagie – Jacobs argues that FIRS has not done anything arbitrarily “Be thou as chaste as ice, as pure as snow, thou shall not escape calumny� - William Shakespeare.

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he above dialogue between Hamlet and Ophelia in one of Shakespeare’s matured tragedies, Hamlet, depicts the experience of the Executive Chairman of the Federal Inland Revenue Service, Alhaji Mohammed Nami, with critical commentaries of his actions at this time. It is noteworthy that in the first quarter of this year, the Service under his leadership surpassed the revenue of the previous year for the same period. It is a great feat by any metric of measurement. This is in spite of the COVID -19 pandemic lockdown which had an adverse effect on generated revenue. It is indeed sad that such a bright effort is subjected to unfair commentaries in the press.

The article captioned “FIRS Chairman ignores Buhari’s directive, retires nine directors� written by Samson Folarin and published in the Punch of 18th May,2020 is indeed in bad taste.

The caption is tendentious and it is apparent it has its roots from within the Service. There are some staff both past and present who felt they have been undermined by the reforms instituted by the current chairman. These invincible enemies are now out for him to take their pound of flesh.

Previous to the present attack in the press, the chairman had been barraged by strident criticisms for his call for an advanced payment of tax during the COVID1-9 lockdown. He had called attention to the series of palliatives given by the federal government and the FIRS to relieve the burden of tax payers. He then appealed to the patriotic instinct of tax payers that are still making taxable profit to reciprocate this gesture and remit such in advance to the FIRS to assist the government. He became a butt of criticisms of those who saw his appeal for advance taxation as insensitive and careless at this time. But what he said was nothing but the truth. The village idiot knows that the COVID1-9 lockdown would affect differently the businesses of a telecoms service provider and a hotel. While the hotel is closed to customers the telecoms service is unfettered. In fact many have spent more on GSM services during the lockdown.

In the newspaper article under reference, he was accused of the unlawful retirement of nine directors of the agency to pave way for his cronies. It was indicated that he relied on an old civil service rule to retire the directors. This rule made it mandatory for directors to retire after eight years in service. He argued that this rule had been suspended vide a circular from the office of the Head of Service of the federation.

What his accusers are not aware of is that the FIRS is not part of the civil service but of the public service. Some of the agencies in this league are the Central Bank of Nigeria, Corporate Affairs Commission and the Nigerian National Petroleum Corporation. It is self-deceit to think that same rules apply to the civil and public Service. If that is the case then it should affect salaries and other remunerations. A new graduate entrant into the CBN has a take

THE FIRS IS NOT PART OF THE CIVIL SERVICE BUT OF THE PUBLIC SERVICE. SOME OF THE AGENCIES IN THIS LEAGUE ARE THE CENTRAL BANK OF NIGERIA, CORPORATE AFFAIRS COMMISSION AND THE NIGERIAN NATIONAL PETROLEUM CORPORATION. IT IS SELFDECEIT TO THINK THAT SAME RULES APPLY TO THE CIVIL AND PUBLIC SERVICE

home pay more than that of a level 14 officer in the Civil Service.

I know of many middle level staff in the NNPC who earns more than directors in the Civil Service. The salary a new graduate employee will earn in 20 years of service in NNPC will be more than the 35 years salary of a director who has just retired from the Civil Service. Also, these agencies operate under a different act which governs their operations. For example, the FIRS is governed by the Establishment Act 2007 with oversight on the engagement, remuneration and firing of staff. The FIRS will only be bound by Public Service Rule for any matter not covered by FIRS Human Resources Policies and Processes.

The chairman cannot unilaterally retire a director without approval by the board which is constituted by the federal government. I was prompted to write this piece by the tissues of lies in the newspaper article under reference. The writer mentioned that the four newly appointed directors and the special assistant appointed are Nupes. Coincidentally, the director, Finance and Accounts, Ahmed Musa is known to me. He is a pure Fulani man from Bauchi State. If he is now a Nupe then I am a Gwari. I will declare this at the risk of being ostracized by my people. People should treat facts as sacred. Also, some of the new staff under reference had been appointed some months before the retirement of the nine directors.

The truth is that the appointments were contract appointments for two years to carry out specific assignments in line with extant FIRS guidelines. A very important information omitted by the article under reference is the fact that five of the nine directors retired were reengaged by FIRS as coordinating directors or as special advisers. There are six coordinating directors in FIRS and they are next in line to the chairman. Some of these retired directors had been directors for more than eight years.

From my enquiry, the retirements are in the interest of the organization for the reason that it enhances career progression.

Some young promising staff had stagnated in a particular position for many years. This issue of career progression was exhaustively discussed by the new board before a decision was taken to retire the directors.

The Chairmen of Agencies answer the first and the last question in their agencies and take full responsibility for failure. It is the practice to bring in those staff that will be strategic to their success. Most of these appointments are contractual and they are regularized in line with applicable guidelines. It is not happening for the first time in the FIRS. The claim that the new appointments negate the federal character is very laughable. I wished The Punch had asked for the list showing the state distribution of over 10,000 staff in the FIRS. He should have also asked how many Niger State indigenes among who are the Nupes are included in the 750 Chartered Accountants he was told were in the Service. If he had done that I am convinced he would join in the clamor for better representation of northern minorities in federal appointments.

Osagie – Jacobs, an Economist and Chartered Accountant, wrote from Abuja

PALLIATIVES, CHARITIES AND THE FAULT LINES The government should create realistic platforms for enlistment of the poor demographics who need welfare support, writes Ladi Ayodeji

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he administration of palliative measures is never intended to bring a permanent cure or lasting solution, rather they only serve to extenuate or mitigate bad situations. It becomes worrisome when the application of palliative intervention measures initiated by government, are beginning to take precedence over serious problems that demand permanent and urgent, holistic solutions.

The Buhari administration has recently created a Ministry of Humanitarian Services, which is also charged with disaster management and such aberrations. That’s an impressive, realistic, broad base response to desperate human needs arising from force majeure.

The ministry compliments the efforts of other charitable private institutions and multilateral agencies, which is good.

One of the problems facing Nigeria today is efficient disaster management, and taken further, the creation of disaster prevention through proactive measures, and the quest for permanent solutions for the plight of the poor and our most vulnerable demographics. The key word here is permanent solution!

For instance, the federal government’s poverty alleviation programmes like Trader Moni, You-win, etc., are good, but not far-reaching enough, and do not address the core, broad spectrum of the society’s poorest of the poor.

Even, the school-feeding programme, though, encouraging, is restricted to the APC-governed

states, which reduces its impact significantly.

Yet, poverty knows no tribe, state, gender, age, location, or religion. Poverty is everybody’s enemy, including the rich and powerful because its negative impact affects everyone. The fight against poverty is a national emergency that should task the ruling elite across party spectrum. It is not an APC or PDP problem. It affects all political parties with representatives in and out of power.

In a previous essay, I wrote that poverty requires as much attention as the Covid-19 crisis management because both are terminal diseases; just that poverty is insidious, while Covid-19 kills faster. Therefore, all hands must be on deck. Poverty birthed the Boko Haram and the other street crimes like armed robbery, kidnapping for ransom, ritual murders, cybercrime, advance - fee fraud (419), second chance, etc.

These crimes could only be checked by effective policing which is a form of temporary suppression of criminal activities by force of arms. Punitive measures do not stop crime.

The threat of legal sanctions may deter criminal activities to some extent, but they do not prevent crime altogether.

Societies which record low crime rates are the ones which have succeeded in providing efficient social security systems that deal effectively with the welfare needs of their people as a whole, not just a particular demographic.

Therefore, what our country should do is to go beyond palliatives and immediately build

on such temporary measure with far reaching, practical, efficient provision of empowerment projects that could engage the productive capacities of our people, including the so called poorest of the poor.

So far, we do not have a reliable structure on ground that captures the location, number and citizenship status of poor Nigerians, who need welfare support. Since our census figures are not reliable, it is difficult to find the right statistics needed for development, which is why we rely on estimates for all our development programmes. Palliatives can’t even get to a fraction of those who really need them under the present improvised system. The government should now begin to create realistic platforms for factual, reliable and authentic enlistment of the poor demographics who need consistent, permanent welfare support in our country. A proper welfare system is what we need, so that the Nigerian underclass could be protected from the vagaries of an economy that is increasingly getting contracted because of declining oil revenues. If twenty – thirty million destitute Nigerians know that they could get N10, 000 every month from government, they’d feel part of the Nigerian dream.

Right now, the poverty gap keeps expanding and threatening to envelop more and more newly impoverished citizens who have been castrated by the Covid 19 decimation of the economy. Government should start thinking in the direction of lifting more Nigerians of the ditch of instead of making palliative efforts that

amount to mere tokenism.

One big issue we must also address is that our economy is public-sector driven. We have to reverse this trend quickly. Nigeria should make policies that fuel private initiative and empower the private sector. Every developed economy has a vibrant SME sector because it drives the economy; that’s what we ought to be looking at now.

There are millions of retirees who are not yet tired. Even, those who are lucky to live on a pension could still learn new trades or acquire new skills and become wealth creators rather than live on charity. Only those who are physically challenged to the extent of being disabled and unable to function independently are rightly deserving of living on charity. Any individual could be empowered by government to make them creative, effective producers of wealth and contributors to the GDP. This is how nations build prosperity permanently.

Poverty alleviation never develops a nation.

The APC should move to the next level by evaluating all its palliative agencies and collapse them into vibrant, productive national training and empowerment organisation that could in record time, turn our unproductive people into wealth creators, not beggars who live on crumbs. Poverty is infectious. If not dealt with, it could untimely infect others who are made to continue to sustain the poor and eventually risk poverty themselves.

Ayodeji is an Author, Life Coach and Activist. He can be reached on 09059243004

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T H I S D AY ˾ MONDAY, MAY 25, 2020

EDITORIAL VIOLATING NIGERIA’S AIRSPACE The authorities should investigate the breach of the airspace in addition to the sanctions

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he recent violation of Nigeria’s airspace by a UK-based Flairjet, which was carrying out a commercial charter services, is a serious security breach that the authorities must investigate thoroughly. Despite claiming to be conducting evacuation exercise, the aircraft, a 13-seater Legacy 600, arrived Nigeria with passengers and was scheduled to operate flights to UK and Spain. Even though the airline had been sanctioned, questions must be asked of Nigerian Airspace Management Agency (NAMA) officials so as to ascertain if there were complicity in what could compromise the health of our country at a time of global pandemic.

However, there is a need to make a distinction between the private airline that abused its permit for humanitarian flights and the intention of foreign airlines to resume commercial flights. The former is an infringement and sanction had been imposed. The latter is part of a global plan by major airlines to resume international flights all over the world. That plan presupposes that different countries QUESTIONS MUST BE will have lifted the ASKED OF NIGERIAN ban on flights by June.

AIRSPACE MANAGEMENT No flights have taken place yet. Nigerian AGENCY OFFICIALS SO authorities need to be AS TO ASCERTAIN IF THERE WERE COMPLICITY busy keeping track of international trends IN WHAT COULD COMPROMISE THE HEALTH on reopening of the world economy, OF OUR COUNTRY not asserting some meaningless authority. Our preventive measures on Covid-19 should be commensurate with our rate of infection and fatality, not knee-jerk overkills.

On the violation of the airspace, we understand that members of the flight crew have also been quarantined.

Although the Minister of Aviation, Senator Hadi Sirika said the Nigerian Civil Aviation Authority (NCAA) had started investigation into the incident, many Nigerians were aghast that a flight could be given clearance

to land in Nigeria under such deception, especially under a locked airspace due to COVID-19 pandemic.

A thorough investigation of the airline, the aircraft and crew should have been carried out before the flight was cleared to come into Nigeria. Meanwhile, it is yet to be ascertained at what point it was discovered that the aircraft was operating charter services and NCAA was now mandated to carry out investigation that it ought to have done before the aircraft was allowed into the country.

S T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA

ince the closure of Nigeria’s airspace on 23 March 2020 to prevent the spread of COVID-19 into the country, there have been series of evacuation flights as nationals from different parts of the world return to their home countries. But industry observers are of the view that a 13-passenger aircraft couldn’t have been detailed to conduct humanitarian evacuation, except for medical emergencies. That should have aroused suspicion. Industry stakeholders also observe that even if there were a precedent where such size of aircraft owned by a private company was deployed for such operation, the need to carry out thorough investigation shouldn’t have been negated. This is because since the beginning of the lockdown, largely wide-body aircraft have been airlifting evacuees in the exercise; so it is a rarity for such a luxury jet to be used to conduct evacuation operation.

Besides, protocols demand that the airline should have had a representative in Nigeria, which usually helps to facilitate a foreign airline non-scheduled operation to receive approvals and necessary clearance.

Nothing has indicated that this particular airline has such representative in Nigeria. This has supported the argument in some quarters that Nigeria’s airspace is porous. Even under a lockdown and strict restrictions, a foreign registered aircraft could use deception and secure approval and clearance to land with a leeway of 48 hours.

We must also think seriously about how to reopen the Nigerian economy to the world. That imperative requires more serious thinking and planning.

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100 Days Of Diri Douye

Sallah Amid Covid-19

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n containment of the novel Coronavirus, the one- month Ramadan fasting is being observed under unusual conditions all over the globe.

It’s undisputable that this Sallah is going to suffer the same fate. No doubt, it is going to be an historical Sallah. This Sallah is going to be the least Sallah an average Muslim will wish the global Muslim community in coming years.

While I was growing up, Sallah used to be one of my happiest days and it is till now. Then, my mum would measure our legs with brooms and took it to the Lagos big market, Idumota, where she bought shoes for us. We’re five. Four boys and one girl. She bought same sets of Ankara for us every year. Once she was back from Idumota, she would ask us to insert our legs in the shoes if they were our size.

Later, she would ask us to take the Ankara materials to our tailors. It was only my elder sister, Fatimah who had a different tailor.

Two or three days to Sallah, we would go back to our tailors to ask if they had sewn it. I used to huff and puff whenever we were approaching our tailors shop. We would go to Fatimah’s tailor before ours.

You know why I huffed and puffed? Our tailor, Mr. Abdullah, did disappoint us sometimes. I can’t even count how many Sallahs we didn’t wear our Sallah clothes because he didn’t sew the clothes. He would ask us to forgive him that he didn’t mean to hurt

us. Our third-born would rage and told him that he shouldn’t expect us during the next Sallah. Once it was a week or six days to Sallah, we would still bundle ourselves to his shop again.

On Sallah, I did wake up as early as possible and scurry to the bathroom. Once I was through, with my modicum towel like a hand towel, wrapped round my waist, I would scurry back to my room.

There, mum would’ve served my hot tea, bread and fried egg on my table. After devouring it, I would wear my Sallah clothes and join my brothers and sister outside, where they stood vivaciously with mats and children glasses glued in their faces.

On our way to the praying ground, we would be eyeing ice cream, doughnuts, sweets, paper caps and other children’s toys that some muslims and non-muslims exhibited by the roadsides. I did ask my brothers to let us get some of these stuff before going to the praying ground. They would say we shouldn’t until we were through with the prayers.

Soon as we were through, we would buy ice cream, doughnuts and others we could afford. From there, we would visit our relatives who gave us money and food. Those were the good old days.

Last year Sallah was as beautiful. There was no Coronavirus. The world economy was stable.

Businesses were lucrative Aremu Lukman Umor, aremulukmanumor@gmail.com

G

overnance in this part of the world is engulfed in a pool of negative public opinion. In most scenarios justifiably so. But there are few exceptions and Governor Diri Douye of Bayelsa State is standing out to be counted.

Aptly called the Miracle Governor due to the intriguing circumstances that surrounded his election, in just100 days in office, it is safe to say that the success achieved thus far even under unfavorable conditions clearly shows the efforts of a leader who understands the true meaning of public service.

Upon the inauguration of the new government, a quick dispelling of the cloud of confusion and negativity was needed. Senator Diri Duoye recognised this need and did exactly what was needed, setting the tone with a powerful inaugural speech of uncompromising reconciliation.

“Where there is darkness, let us bring light,” he said quoting a Catholic friar, St. Francis of Assisi. The government under his leadership is indeed bringing light in these dark times, through actions and policies that are people-centred. Such policies and actions include the much needed albeit commendable cut down of cost of governance. A significant reduction in the number of ministries from 32 to 21 helped to ensure this reduction in cost. The extra funds available will definitely help to drive home other policies

that tend to cater directly for the peoples’ needs.

An example of such is the revolution of the state’s civil service. There is an unwavering assurance of promotion for deserving individuals as at when due and immediate enjoyment of the entitlements that come with new positions. It is worthy to note that all the benefits of the ongoing civil service reforms are not just empty promises as they are already being implemented.

It is rightly said that “real leadership is leaders recognizing that they serve the people that they lead.” This is exactly the part that Governor Douye has decided to follow and it is further shown in pension reforms. These reforms have seen prompt payment of pensions and gratuities to both those currently due and those owed in the past. Such reforms directly affect the livelihoods of the people of the state as does the distribution of the much -needed palliatives and the proper sanitation of the Swali market, the largest commercial center in the state capital. The government is proactive in its actions to try and successfully limit the impact of the coronavirus on the health and welfare of the people and also the state’s economy. These proactive measures enabled the government to implement a partial lockdown, when other states went for total shutdown, crippling businesses and livelihoods.

Allison Abanuam, Yenagoa, Bayelsa

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Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875

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Quick Takes SHAPE 2020 Graduates Donate Sanitisers

STOCK-TAKING

L-R: Chief Executive Officer, Nigerian Economic Summit Group (NESG), Mr. ‘Laoye Jaiyeola; Chairman, Mr. Asue Ighodalo, and Vice Chairman, Mr. Niyi Yusuf, at the Annual General Meeting of the NESG in Lagos...recently ETOPUKUTT

Nigeria, Others Urged to Retool Budgets, Enhance Agric Production Peter Uzoho African countries need to urgently expand food reserves, keep food supply flowing and boost their agriculture budgets to avert a possible hunger pandemic, partly caused by the COVID-19 pandemic, delegates at a two-day webinar hosted by the African Development Institute (ADI) have advised.

They noted that Africa must now, more than ever, develop and implement policies to enhance capacity to compete in the agriculture sector, processing, trade and industry, the speakers said in a clarion call for action.

Noting that COVID-19 has fast-tracked the transition to the fourth Industrial Revolution era, participants also called on African governments to scale up technology for agriculture production, including private

ECONOMY sector-led initiatives, to build resilience and grow the sector to self-sufficiency.

According to a statement, the webinar titled: ‘Building Resilience in Food Systems and Agricultural Value Chains: Agricultural Policy Responses to COVID-19 in Africa,’ examined the impact of the pandemic on Africa’s agri-food systems and offered policy recommendations to make them more resilient and efficient.

The dialogue, which drew 770 experts from 57 countries, was the second in a series ADI organised under its Global Community of Practice (G-CoP) to provide evidence-based policy guidance to African Development Bank Group member countries.

Participants urged governments

to prioritise agriculture and agribusiness in national security agenda by implementing structural reforms. Reforms proposed include merging ministries of agriculture, health, trade and industry and environment into ‘One Health Ministry’ for greater impact.

Introducing trade or non-trade barriers is not a welcome policy in Africa, especially during the pandemics, the forum noted.

It therefore called on Africa to establish green corridors and domestic food systems and keep inter-regional food supply chains open during the pandemic.

Many African countries must import food to meet domestic demand and so face dangerous food shortages due to COVID-19 related supply-chain disruptions.

Further, a number of countries in East Africa and the Horn are grappling with another food security threat: locust swarms.

Participants noted that food insecurity had been a problem prior to the pandemic, as many African countries lack adequate strategic food reserves. Other challenges, including climate change, water scarcity, and poorly developed agricultural markets were also discussed.

These factors driving extreme hunger could kill far much more than COVID-19 in Africa if lockdowns persist without clearing the “choke-points� in the food supply chain to the vulnerable, the meeting observed. “Without COVID-19, many of our people were already hungry.

The pandemic has worsened the situation. Let’s call this an emergency for food production and let this crisis not waste,� they noted.

Speakers likened the pandemic

Graduates of the women empowerment initiative, SHAPE 2020, have received commendations from Yaba residents after successfully producing and delivering bottles of hand sanitisers to members of the community.The donation, which was made to ensure that Yaba residents are equipped with hand sanitisers amidst the Coronavirus pandemic, was also extended to the Sabo Police Station in Yaba, Lagos State.

According to a statement issued by the promoters of the initiatives, the WhiteďŹ eld Foundation – a local NGO, with funding from The Coca-Cola Foundation, kicked o its SHAPE 2020 programme in a bid to empower disadvantaged and unemployed women from local communities between the ages of 18 years and 50 years.

The programme, which was launched in February, was said to have seen 770 women successfully enrolled while subsequently empowering 237 with technical skills and tools, of which 150 businesses have emerged so far. Courses organised include catering, make-up, fashion, hair and wig making, nail care, domestic essentials, event decoration and planning, amongst several other categories.

In light of the global COVID-19 pandemic, the SHAPE 2020 graduates have since continued to support local communities through the provision of free hand sanitisers to frontline security oďŹƒcials and members of the community, as part of relief eorts.

BeneďŹ ciaries of the fashion design course have also recently embarked on the production of fashionable and functional face masks, essential for protection from the novel virus. Additionally, beneďŹ ciaries of the catering course have also stepped forward with their culinary skills, helping to mitigate the eects of the lockdown in their immediate environment.

S’Africa’s GDP May Shrink 4.5%

S&P Global Ratings on Friday said it projects South Africa’s economy to shrink by 4.5 per cent this year as a result of the COVID-19 pandemic that hasimpactedproductionandconsumption.InApril,S&PdowngradedSouth Africa’s credit rating further into non-investment-grade territory, saying COVID-19-related pressures would have signiďŹ cant adverse implications for the country’s already-ailing economy and for tax revenues.

According to Reuters, it lowered its long-term foreign-currency rating on South Africa to “BB-minus� from “BB� and its long-term local-currency rating to “BB� from “BB-plus,� with a stable outlook. “COVID-19willweigh heavily on GDP growth given the strict domestic lockdown that has shut down much of the economy, the markedly weaker external demand outlook, and tighter credit conditions,� S&P said. “As a result, we now project the economy to shrink by 4.5 per cent this year,� it added.

The ratings agency projected growth of 3.5 per cent for 2021. South Africa’s lockdown has entered its ninth week, leaving many businesses and individuals struggling without income in the recession-hit economy.

S&P said the weaker macroeconomic environment would also weigh heavily on ďŹ scal revenues, projecting that the ďŹ scal deďŹ cit would widen to 13.3 per cent of gross domestic product in 2020 —the widest in the country’s democratic history.

S&P estimates net debt levels would rise to over 75 per cent of GDP by the end of 2020.

Tunisia’s GDP Shrank 1.7% in Q1

Tunisia’s GDP shrank by 1.7 per cent year-on year in the ďŹ rst quarter of 2020, the State Statistics Institute said on Friday, as the vital tourism sector has been hit hard by the coronavirus crisis. That compared with growth of 1.1 percent in the same quarter last year.

Authorities in the North African country expect the economy to shrink by 4.3 per cent this year, which would be its steepest contraction in more than 60 years, according to Reuters.

Tunisia started relaxing restrictions on movement and businesses this month, allowing half of government employees to return to work, Continued on page 20 but the pandemic is hammering its tourism sector which contributes nearly 10 per cent of gross domestic product and is a key source of foreign currency.

Tourism revenues fell in the ďŹ rst three months of 2020 by 27 percent compared to the same period in 2019 to 1 billion dinars, as western tourists deserted Tunisia’s hotels and resorts. without broad-scale, coordinated control measures to reduce locust populations and prevent their spread to new areas, potential damages and losses to crop and livestock production and related assets in the greater Horn of Africa, including Yemen, could reach as high as $8.5 billion by the end of this year. “By helping to mobilise a rapid response and more effective locust control measures, anticipated damages and losses will still be an estimated $2.5 billion. This is CEO, Planet Project Limited, why the ELRP will fund measures Mr. Biodun Otunola

W’Bank Announces $500m to Fight Locusts, Preserve Food Security The World Bank Group has approved a $500 million program to help countries in Africa and the Middle East fight the locust swarms that are threatening the food security and livelihoods of millions of people.

The Emergency Locust Response Program (ELRP), approved by the World Bank’s Board of Executive Directors, would focus on providing immediate assistance to help poor and vulnerable farmers, herders, and rural households overcome one of the worst locust upsurges in decades.

The ELRP would provide

AGRIC immediate support to affected households through targeted social safety nets like cash transfers, while investing in the mediumterm recovery of agriculture and livestock production systems and rural livelihoods in affected countries.

According to a statement, the first countries to be financed under the initial phase of the program are Djibouti, Ethiopia, Kenya, and Uganda, with a total financing package of $160 million. “Locust swarms present a

double crisis for countries that are also battling the COVID-19 pandemic,� said World Bank Group President David Malpass. “Together, this food supply emergency combined with the pandemic and economic shutdown in advanced economies places some of the world’s poorest and most vulnerable people at even greater risk.�

East Africa already has 22.5 million severely food insecure people and 10.8 million forcibly displaced people, according to the UN’s Office for the Coordination of Humanitarian Affairs. The World Bank has estimated that,

“If we do not provide a subsidy for transport operators, they will not fully comply with the COVID- 19 regulations�

Continued on page 20

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BUSINESSWORLD NIGERIA, OTHERS URGED TO RETOOL BUDGETS, ENHANCE AGRIC PRODUCTION to “a silent war on the most vulnerable populations without guns.�

Participants offered several policy solutions, including promotion of research; enhancing capacity; and expansion of regional agricultural trade, with the African Continental Free Trade Area representing one pathway to resilient regional food supply chains.

The experts also called for the establishment of national agricultural productivity accelerator funds to support smallholder farmers and SMEs to ramp up production.

Women represent a large share of the agriculture workforce, and participants urged the deployment of funding and technical support, including cash transfers to women and smallholder farmers, to accelerate agriculture and food production. They proposed that long-term contracts should be signed with local producers, urban farmers and suppliers to help safeguard supply.

W’BANK ANNOUNCES $500M TO FIGHT LOCUSTS, PRESERVE FOOD SECURITY

to protect livelihoods of the poor and vulnerable impacted by the locust crisis. “In addition to protecting livelihoods, physical assets and human capital of affected households, the program will deliver seed packages and other inputs to affected households to help restore farm production and livelihoods as quickly as possible. “It will also finance investments to strengthen surveillance and early warning systems so that countries are better prepared to combat future outbreaks,� the statement added.

As of early May 2020, locust swarms have infested 23 countries across East Africa, the Middle East, and South Asia. This upsurge was the biggest outbreak faced by some countries in 70 years.

Favorable breeding conditions through May would likely result in a new round of swarms in late June and July, coinciding with the start of the harvest season.

Group Business Editor

Obinna Chima

NEWS

Experts Proffer Solutions to Nigeria’s Challenges Emma Okonji Some experts have highlighted solutions that will help businesses recover fast from the adverse effect of COVID-19 pandemic on the Nigerian economy.

Speaking during a recent Webinar on the second quarter 2020 economic outlook organised

by Nairametrics, the experts spoke about factors that would drive economic activities post COVID-19.

The Head, Investment Research Arm of Sigma Pensions, Wale Okunrinboye, in his presentation, gave an overview of the current state of affairs in the Nigerian economy. According to him, the drastic decline in global oil prices had thrust Nigeria in a difficult financial position, even as the country’s external reserves continue to deplete.

This, he said, had also resulted in the devaluation of naira’s official rate from N305/$ to N360/$. “Although the revised budget assumes a 40 per cent dip in revenue projections to N5.1 trillion, which is about three per cent of GDP, it amounts to one per cent decline in revenues from 2019 levels, which is about 3.6 per cent of GDP. “Deficit financing remains unclear in the meantime, even though possibilities abound that the federal government may have to borrow heavily to plug the budget hole over 2020.,� Okunrinboye said, adding that recession was imminent for Nigeria.

He attributed it to the volatility in crude oil price and the fact that many Nigerian businesses have been at the receiving end of the negative effects of the pandemic, particularly those in the entertain-

Peter Uzoho Calm Global Information Technologies Limited has announced plan to integrate complete asset management module into its existing financial/investment solution, ‘Yanchi’, to enable portfolio managers and the likes use the solution.

The Managing Director of Calm Global, Mr. Iranloye Godwin, who disclosed this to journalists recently, said the integration would be carried out before year end. He said the feedback from the users of the five-year old solution regarding its performance was excellent. “The performance of the solution is excellent and we have also been able to support our customers real-time using our support and implementation unit.

They are there to support them

Comms/e-Business Editor

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor ((Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

“This again has implications in terms of social unrest, security, and the larger economy. States don’t have as much money. It means that some states will just go straight up and owe staff. “Some states will downsize, and the bottom line is that the unemployment market is going to get much larger.�

Speaking on the country’s electricity and agriculture challenges, a UK-based Nigerian Accountant and Policy Analyst, Feyi Fawehinmi, stated that Nigeria’s lingering power problems could never be resolved without a holistic solution.

According to him, such a solution would only be possible when the big and small consumers are brought together in a single power pool.

He argued that farming should be a choice, rather than the last resort of a wide segment of the population as a way out of poverty.

Addressing the issue of investment, Dr. Ola Orekunrin Brown of Flying Doctors, approached her discussion from the healthcare standpoint by emphasising that the virus does not move unless people move; hence, the need to maintain social distancing.

both online offline, remotely and digitally. “Before the end of the year we ought to integrate complete asset management model to the system so that portfolio managers, asset managers, mutual funds users can use the solution. People that have different investment classes can use the solution to manage their assets,� Iranloye said.

He explained that Yanchi, which is an Hausa word for freedom, was one of the solutions it deployed across four sectors for ease of operation.

He said a number of stockbroking firms were currently using Yanchi for their transactions and that the company was one of the first independent stockbroking vendor certified by the Nigerian Stock Exchange to deploy solutions for the investment sector for convenient business transactions.

According to him, a lot of

stockbroking firms are currently using the solution because of its unique security and other user-friendly features.

Iranloye added: “It has general ledger (GL). It has customer service information that complies with the CBN rules. Calm Global Information Technologies is one of the first few independent stock firm vendors that were certified by the Nigerian Stock Exchange (NSE) to deploy this solution. “Any company that is managing finance can use this solution.

It has general ledger, so they can do their balance sheets, they can do their tri-balance, they can do profit and loss, they can pass the normal GL entries; you can manage people’s deposits and manage loans, it can manage portfolio and manage mutual funds, it can manage bonds, treasury bills and different asset classes.

“It has full asset management module. So it is not only for stockbroking firms, it is for any investment or any company that does financial transactions.�

He maintained that with the Yanchi, users could do their transactions in the comfort of their homes as there was no need of physical visitations to offices to undertake a transaction.

He further said that Yanchi was riding on the Financial Information Exchange (FIX) introduced five years ago by the NSE to encourage the adoption of digital stockbroking operations.

He further said: “The Nigerian Stock Exchange some four or five years ago introduced what we call FIX. FIX is an acronym for Financial Information Exchange, such that if you have the application on your phone as a shareholder you can place your buy or sell order from

the convenience of your room. “And it doesn’t need to go to the stockbroking firm. There is what we call ‘ORS’ (Order Routing System), and what that ORS will do is to take the order from the shareholder, route it to the stock exchange using FIX. And then, when it gets to the stock exchange, the system is looking at who has placed the contract order. “So if I say I want to buy something it means that there is somebody that should have said: ‘I want to sell something’, and then there is an exchange once the terms and conditions match. It comes back to you almost immediately as the shareholder and says that this your order has become a trade because it has been executed. If you are buying, your account is debited; if you are selling, your account is credited.�

DBN: We Created 3,192 Jobs in 2019

Goddy Egene

Senior Correspondent

caused interest rates and capital importation to go down. Some of the implications of Nigeria’s depleting foreign reserves and the exchange rate crisis, have being the fact that Nigeria’s federal allocations are increasingly becoming smaller. “There was a devaluation in between February and March this year, So, because of that devaluation, the March figures appear to be higher. “But if you convert everything to dollar at the prevailing rates of such sharing, you will find that the money is actually consistently getting smaller.

Calm Global Deploys Solution for Asset Managers, Others

Capital Market Editor

Emma Okonji

ment, tourism, and international trade spaces.

Also speaking during the webinar, the Lead Partner at SBM Intelligence, Cheta Nwanze, examined the series of unfortunate developments that have been working against the Nigerian economy since the outbreak of the Coronavirus, including the decline in oil prices, Nigeria’s lack of preparedness to handle the outbreak, the adverse effects of the weeks-long lockdown across the country, and even Nigeria’s rising inflation.

According to Nwanze, “Nigeria’s rising inflation has

The Development Bank of Nigeria (DBN) Plc said it supported micro, small and medium scale enterprises (MSMEs) with the disbursement of over N100 billion to over 100,000 businesses.

This, according to the agency resulted in the creation of 3,192 additional jobs in 2019.

The Managing Director, Tony Okpanachi, disclosed this in his address at DBN’s first virtual third Annual General Meeting which held recently in Abuja.

While giving a scorecard on the development bank’s activities and contribution to the Nigerian economy, he said the institution working through its Participating Financial Institutions (PFIs) has facilitated an increase in MSME revenue, as well as assets.

He stated that DBN has focused on engendering gender equality in its loan distribution and empowered youths with 52 per cent of the total loan disbursed to these segments in 2019.

“Through our 27 Participating Financial Institutions, over N100 billion was disbursed last year, impacting cumulatively over 100,000 MSMEs. “So far, 3,192 jobs have been created leading to an increase of 10 per cent in MSMEs revenue and 6.8 per cent increase in the value of their land assets. “Also, 52 per cent of loans disbursed in 2019 were to youths and women-owned businesses.

This is in our bid to promote

economic empowerment and gender equality,� a statement quoted him to have said.

He further stated that DBN has also set up a Credit Guarantee Subsidiary, Impact Credit Guarantee Company Limited with the aim of de-risking the MSME sector by sharing risks with the PFIs to encourage them to lend to this critical sector of the economy. He added that DBN also delivered capacity building programs for MSMEs

across the six geopolitical zones of the federation.

Okpanachi, assured shareholders that the Bank was on the right trajectory and focused its strategy on driving sustainable economic growth. In his remark, Chairman of the Bank, Dr Shehu Yahaya, commended the federal government for its commitment and efforts as well as the selfless health workers for their dedication towards tackling the deadly COVID 19 pandemic.

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MONDAY INTERVIEW

Egube: Focus Will Be on Job Creation after Restarting the Economy Lagos State Commissioner for Economic Planning and Budget, Mr. Sam Egube, in this interview sheds more light on the proposal to revise the state’s 2020 budget which has been presented to the House of Assembly for consideration. Obinna Chima brings the excerpts: What informed the decision to propose a reduction in the size of the budget?

What we are proposing to the House of Assembly is a budget review because the size of the budget is going to change. And it is going to change largely due to external pressure that have now become internal pressure, arising from the coronavirus pandemic. I have always said that what is about to happen is a combination of a health pandemic and an economic pandemic.

Even after COVID-19 is gone, the economic effect of it would always outlive the health effect. So, in life generally, it is not what you are going through that makes you happy or sad, it is the meaning that your mind attaches to it. And in Lagos, it appears that in envisioning what we wanted to do, the Governor saw tomorrow. What I mean by that is that there is really nothing that would change in our broad objective. It is just that certain aspect of it has now been heightened. For example, the actions that we would be taking on health, are same actions. It is just that now; we must accelerate it because we did not think of COVID-19 when the budget was being planned. As you are aware, the story of COVID-19 started in Wuhan, China.

The implication of that was that factories had to shut down. This lockdown we are seeing now, started much earlier in places like China and Europe. The meaning of it was that once those factories began to shutdown, almost two-third of world’s production capacity was shutting down. Nigeria is import-dependent.

So, our manufacturing immediately began to slow down because the slow down because the supply chain was slowing down. No matter how strong our economy is, even if COVID-19 did not come into Nigeria, we would be unable to produce much if our inputs were not coming in.

Now, COVID-19 did another thing – it slowed down movement around world. Now, when movements are slowed down, what it means is that the need for energy drops. When that happened you now have nearly a glut in the oil market because the demand for crude oil would go down. So, the combined effect of all of these was that activities in the Nigerian economy slowed down. Our revenue has dropped and our Gross Domestic Product (GDP) would also shrink. When we did the financial modelling and worked on the scenarios, even though the World Bank and IMF had said Nigeria’s GDP would go down as much as about 3.6 per cent, for us in Lagos, we felt it would be about three per cent and that for Lagos is equivalent to N2.3 trillion in output loss. That loss has a direct relationship with unemployment. Of course, when we were preparing the 2020 budget, we didn’t have COVID-19 in mind and not having that in mind meant that we expected that things would be normal. So, we looked at revenue projection of N1.017 trillion and our budget size was N1.168 trillion. So, we felt that Internally Generated Revenue would drop between 21 and 30 per cent and that would result in shrinkage in the budget. So, what you would then see is that after a lot of permutations and adjustment, you can see that revenue is going to drop by 24 per cent in the current proposed budget and we expect the budget size to drop by 21 per cent. Of course if the revenue drops by 24 per cent and the expenditure drops by 21 per cent, it means it is being covered by an increase in deficit from nine per cent, to 11 per cent. So, despite the COVID-19, we need to adapt going forward. But to move forward, three things were clear to us. Firstly, we needed to maintain a very strong pandemic response. Secondly, we needed to restart the Lagos State economy and thirdly, we needed to re-imagine the way Lagos state operates. It was our view that you cannot run the COVID-19 race as if it is a sprint. And we felt that if it is a marathon, lockdown would not be a viable option and therefore we would need to re-imagine what operating in Lagos would look like. But to do all of that, the first thing to do was to lockdown so that you can first of all assess what is going on and how we intended to

how revenue would be impacted.

Is the personnel budget affecting by this proposed budget review?

To cut personnel budget means you want to sack people and we don’t intend to sack anybody.

This is not the time to sack people, but the time to intervene with people. So, you have to keep people on their jobs. Even if you send them away, you will still need to be sending palliatives to them wherever they are. So, we didn’t touch our personnel cost. Overhead is to come down by 20 per cent and capital expenditure came down by 29 per cent and the outcome is the deficit moving from N97.5 billion to N108 billion.

Of course, when you look at the things we are cutting, that is the drop in revenue which is N248 billion, you would be wondering why the deficit is less than N10 billion. The reason is that there is also a fiscal consolidation meaning that we have cancelled certain cost that we feel are not essential and we are prioritising things that are going to be essential.

Egube proceed. So, there is going to be a shift and we are proposing to the state House of Assembly, a reduction in our budget from N1.168 trillion, to N920 billion, which is a 21 per cent drop. If you look at the Lagos State 2020 budget, you will see that the revenue is N1.1 trillion. That is broken down largely into federal transfer of about N185 billion and Internally Generated Revenue of N886 billion. What that means is that the proportion stimuli that would affect our total revenue is a small portion, which is about 18.5 per cent. The plan was to use N418 billion for recurrent; N711 billion for capital, leading to a deficit of 98 per cent.

How did the budget perform in the ďŹ rst quarter of 2020?

When we did our first quarter review, things still looked quite firm and despite the challenges,

It was our view that you cannot run the COVID-19 race as if it is a sprint.

And we felt that if it is a marathon, lockdown would not be a viable option and therefore we would need to re-imagine what operating in Lagos would look like

somehow, Lagos was still able to come out with a positive variance on our revenue – about six per cent more than our target. So, we achieved 106 per cent of the expected outcome on our revenue. Our recurrent expenditure was at 80 per cent target, but our capital expenditure which has to do with projects largely was at 41 per cent of expectation. That was so largely because the first quarter is a little bit slower. So, even though we expected a capital to recurrent expenditure of 61:39, what we saw was 44:56. And because we had the monies waiting to meet those projects, we had a surplus of N119 billion instead of our planned deficit of N24 billion. So, when we did the first quarter budget review, our target was N267 billion, but we achieved N282 billion, basically six per cent above the expectation. That happened as a result of our capital receipt and basically because we had our bonds and loans which were budgeted as brought forward for prior year intact and dusted. However, our IGR did drop because of the headwinds and first quarter federal transfers dropped. Now, the expenditure, on the recurrent side we had almost 80 per cent, but on the capital side it was only about 41 per cent achievement in the drop.

But how will this budget review affect Lagosians?

The GDP is what affects us a lot in Lagos.

When you look at the correlation between GDP and unemployment, you are then able to put your finger on how GDP affects unemployment.

Generally, the income distribution of Lagos is about N46,000 per average for about six million people that are working. That begins to tell you

So, what are the sectors you are prioritising?

Now, there are a few things that are going to be important going forward. We are aggressive in our health response. We felt we needed to support business and the idea was to use the Lagos State Employment Trust Fund (LSETF) to do some support. But in the meantime we are going to allow filing extension so that people would not be under pressure in filing their taxes and then working capital for SMEs. But going forward, we need to take a very strong approach to the crisis and we need to restart the state economy. So, our safety commission is doing a lot of work to try and codify what living with COVID-19 in the workplace should look like.

Lagos is a service centre and the things that make Lagos bubble are our hotels, our bars, night clubs, restaurants. Now, if that sector is challenged globally, then you are looking at a challenge in the economy. But beyond that, we also need to re-imagine the way Lagos State would operate going forward. So, in our area of response, we are going to protect Lagos State food supply. So, we are going to be looking at things around our food production. We are also going to look at how to take care of our vulnerable. Lagos is a big population and quite frankly, a lot of the people in Lagos are poor. We are going to prioritise our T.H.E.M.E.S agenda.

Now, in restarting the economy we feel the focus should be on job creation. What jobs do is that it stimulates consumption and consumption is what makes production possible. There are sectors that are heavy in terms of job creation, such as SMEs. Construction is also strong and it has several characteristics. It can employ people and provide a platform for tomorrow’s growth.

So, we would be looking a lot at agriculture and we would try to support and retrain our people.

Let’s face it, the way people work would change and so we all need skills that would help us work in the new environment that COVID-19 has created. So, one of the things COVID-19 will do for us is that we would be like a city that hosted the Olympics or World Cup, it would leave us with infrastructure that are better – our hospitals would be better, our primary healthcare centres would be better for it and our capability to deal epidemics would be stronger and our health professionals would be more robust, haven gone through an experience like this. But revenue is dropping, so there must be consolidation. You must rationalise your expenditure in favour of your most critical sectors.

When you go through a shock, you tell yourself that you won’t let it happen again. So, one of the things we are doing in the proposed budget is to create a Stabilisation Fund of one per cent of our internally generated revenue, that would help us cope with shocks as we go on and hopefully we would have legislation around how this Fund can be assessed. So, in this proposal that is going to the House of Assembly, there is a line for the Stabilisation Fund that is required.

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T H I S D AY Ëž Í°ÍłËœ 2020

BUSINESS/MONEYGUIDE

CSCS Shareholders Approve N4.3bn Dividend Payout Goddy Egene The Central Securities Clearing System (CSCS) Plc recently held its 26th annual general meeting (AGM), where shareholders approved N0.86 dividend per share recommended by board of directors. The dividend amounted to N4.3 billion and is 22.8 per cent higher than N3.5 billion or 70 kobo per share paid in the previous year.

Speaking on the performance of the company, the Chairman of the Board of Directors, Mr. Oscar Onyema, noted the resilience of CSCS’ performance amidst market volatility and waning transaction volumes in 2019. “This set of results and impressive returns to shareholders are commendable, particularly when put in the perspective of

the relatively weak liquidity in the market in 2019. This feat reflects the tenacity of the management in diversifying the business and commitment to cost efficiency.

Whilst transaction fees waned, it is satisfying that CSCS sustained both top and bottom-line growths, with revenue and profit before tax of N9.1billion and N6.3 billion respectively,� he said.

Also commenting on the results, the Managing Director/ Chief Executive Officer, Mr. Haruna Jalo-Waziri said: “My colleagues and I remain committed to our earnings growth and cost efficiency philosophies, as we driven by the ultimate objective of creating superior value for shareholders and enhancing market efficiencies. “I am pleased with the 165 per cent growth in non-core

earnings, reflecting our tenacity towards diversifying the business.

More importantly, the overall performance reflects the pay-off of our painstaking investment in people and new technologies, as we strengthen our capacity to serve our participants better and meet anticipatory need of the market.� “Notwithstanding the inflationary environment, we closed 2019FY with 31.5 per cent cost-to-income ratio, demonstrating continuous improvement in cost efficiency. As we deliver on our strategic initiatives aimed at enhancing the post-trade segment of the Nigerian capital market, we are upbeat on the earnings outlook of the Company, with expectations of delivering superior returns to shareholder over the long term,� Jalo-Waziri added.

Trading oor

‘Banks Offering Access to Low Interest Funds’ Ugo Aliogo As part of measures to cushion the impact of the coronavirus pandemic, the Chief Executive Officer, FirstBank Nigeria, Dr. Adesola Adeduntan, has disclosed that banks are currently offering customers access to low interest funds.

In addition, he said banks have been restructuring the loans of their customers to meet the specific needs of each customers’ cash flow situation.

Adeduntan, said this during a recent webinar.

He revealed that banks are also waiving late repayment fees and charges for customers who

are able to make loan repayment within 90 days of the original due date. The FirstBank CEO said banks are offering accelerated working capital facility approval for selected businesses impacted by the lockdown to enable them meet overhead expense commitments. He further said banking institutions have witnessed increased pressure on revenue and profitability given the rapid decline in economic activities; with the attendant negative impact on net interest income, trading income, and commission/ fee income, as well as higher operating costs.

According to him, “The COVID-19 crises led to the

credit rating downgrades of most vulnerable developing countries, including Nigeria.

The downgrade implies a higher country risk premium for Nigeria with the attendant implication on financial institutions’ foreign currency funding cost and access. “Financial institutions may face potential decline in asset quality due to curtailed economic activities, credit exposures and credit rating downgrade of customers in sectors that have been worst hit by the COVID-19 crisis. “Financial institutions are facing the COVID-19 challenges of keeping employees safe and at the same time meeting the increasing expectations of customers.

Aella Launches Health Insurance Scheme Fintech start-up, Aella has launched its own health insurance scheme in partnership with Hygeia, a foremost HMO in Nigeria.

A statement from the organisation noted that as Nigeria battles the Covid-19, the pandemic continues to reveal the cracks in the country’s healthcare sector. One such challenge is the lack of financial protection for the healthcare needs of a vast majority of the population through an effective social health insurance scheme.

Commenting on the initiative, the CEO of the company, Akin Jones said: “We have a responsibility to our customers, employees and communities

to build businesses that have a positive impact on daily life.

We originally launched Aella as a micro-lending app, but we soon realised that 25 per cent of loans were being used to foot medical bills, second only to small business loans and other bill payments.�

Aella stated that it was set out to reverse this negative trend by entering into a partnership with Hygeia, one of the HMO’s with the widest reach in the country, with nearly 2000 clinics, pharmacies and hospitals in its network. “This formidable partnership aims to bring over 500,000 Nigerians under its Health Insurance coverage in the first year, protecting them from the

rising costs of healthcare services in the Country. Diseases such as Cholera, Malaria and Typhoid are killing numerous Nigerians every day due to lack of access to prepaid healthcare and Aella wants to put a stop to it. “As of 2016, only three per cent of Healthcare expenditure in Nigeria was paid for using Health Insurance. To bridge this gap, Aella is using a four-pronged approach, namely: Trust, Access, Pricing and Education.�

Jones said the Aella Health Insurance plans recording a large number of sign-ups via its mobile app, which further confirmed its drive to insure half a million Nigerians before the end of the year.

Caverton Records 36% Rise in Profit in 2019 Chinedu Eze Caverton Offshore Support Group Plc, (COSG) has announced that it recorded increased its pre-tax profit by 36 per cent, to N7.2 billion in its 2019 financial year.

This was disclosed in its audited financial results for the year ended December 31, 2019.

According to the company, its after-tax profit was N4.3 billion.

Besides, its revenue increased by five per cent, while direct operating costs increased by three per cent supporting the earnings

per share, which also grew by 15 per cent when compared to 2018 financial year.

Commenting on the recent events, the COSG’s Chief Executive Officer, Mr. Bode Makanjuola said: “Coming off the back of a good year end we were looking forward to the next decade with immense optimism. “Our Maintenance, Repair and Overall (MRO) facility was due for completion and we were to take delivery of the first ever helicopter flight simulator in sub Saharan Africa. We also anticipated good fortunes for

our marine business, as we had been pre-qualified for a number of contracts. “Unfortunately the coronavirus pandemic sweeping across the globe has turned 2020 to an annus horribilis, which has seen project dates pushed back and potential contraction and indefinite suspension of some contracts.�

Makanjuola, also explained that as the world comes to terms with the unprecedented effects of the COVID-19 pandemic and its negative impact on economies, financial prudence would be its watchword.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

SEPTEMBER 2019 Money Supply (M3)

35,029,779.72

-- CBN Bills Held by Money Holding Sectors

7,374,356.91

Money Supply (M2)

27,655,422.82

-- Quasi Money

116,533,891.21

-- Narrow Money (M1)

11,121,531.60

---- Currency Outside Banks

1,625,047.69

---- Demand Deposits

9,496,483.91

Net Foreign Assets (NFA)

13,911,335.83

Net Domestic Assets(NDA)

21,118,443.89

-- Net Domestic Credit (NDC)

35,918,179.45

---- Credit to Government (Net)

10,452,199.38

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

11,007,422.79

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

25,465,980.07

---- Credit to Private Sector (CPS)

-14,799,735.56

--Other Assets Net

7,000,253.07

Reserve Money (Base Money

2,005,600.83

--Currency in Circulation

4,677,530.81

--Banks Reserves

317,121.43

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Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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OPEC DAILY BASKET PRICE AS AT TUESDAY, 19 MAY 2020

Vienna, Austria, 20 May 2020--The price of OPEC basket of thirteen crudes stood at $28.43 a barrel on Tuesday, compared with $28.21 the previous day, according to OPEC Secretariat calculations.

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

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MARKET NEWS

United Capital Plc Raises N10billion in Series 1 Bond Issuance Goddy Egene United Capital Plc has successfully raised the sum of N10 billion in its Series 1 Bond issuance under a N30billion Medium-Term Debt Programme registered with the Securities and Exchange Commission (SEC).The bond issuance, which opened on Monday, May 4, 2020 and closed on Friday, May 15, 2020,was oversubscribed by 24 per cent, making United Capital the first non-bank issuing house to issue a corporate bond

in the history of the Nigerian capital market.

Commenting, Group Chief Executive Officer, United Capital Plc, Peter Ashade said: “The bond issuance, which signifies the first by any investment bank in the history of the Nigerian capital market solidifies our performance track record as a formidable ally in the investment banking industry.

With an oversubscription by 24 per cent investor orders, we believe this milestone accentuates the confidence in our Institution,

P R I C E S MAIN BOARD

F O R DEALS

and its ability to diversify our corporate funding sources, provide innovative financial solutions and our unwavering commitment to our esteemed clients�.

Also commenting on the transaction, Managing Director, Investment Banking, Babatunde Obaniyi, said:“The bond issuance adds to the impressive portfolio of innovative and landmark transactions we have structured, and once again highlights our capabilities in the successful execu-

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

QUANTITY TRADED

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tion of novel debt capital market transactions. As a joint issuing house/book runner on the deal, United Capital advised on the transaction structure, securing regulatory approvals and marketing strategy for the bonds including market timing, investor road show and crafting an appropriate and compelling business case for the issuance.� “The Series 1 bonds, which have a tenor of 5years,recorded a 124 per cent subscription,

T R A D E D MAIN BOARD

A S

with commitments received from Pension Funds (comprising 64 per cent of the issue), other financial institutions as well as high net worth individuals. This very strong outcome further affirms buy-side investors’ confidence in United Capital Plc, and a testament to the leading role the organization continues to play in the financial services space,� he said.

United Capital Plc is a leading financial services group in Africa, focused on leveraging

O F

technology to empower businesses, individuals and governments with excellent financial services in investment banking, asset management, trusteeship, securities trading, wealth management and consumer finance, while contributing to economic growth and prosperity across Africa by supporting financial inclusion.

Since it was founded over 50 years ago, United Capital has cultivated and sustained a heritage of excellence in the finance space in Africa.

1 9 / 0 5 / 2 0 2 0 DEALS

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NEWS

Navy Recovers N75bn Stolen Petroleum Products Destroys 2,287 illegal refineries Kingsley Nwezeh in Abuja Nigeria Navy has said it recovered N75 billion worth of stolen petroleum products in five years. The products recovered between 2015 and 2019 include crude oil, diesel and petrol.

It said a total of 2,287 illegal refineries were discovered and destroyed within the same period.

Speaking in Abuja as part of activities to commemorate the 64th anniversary of the Nigerian Navy, the Chief of Naval Staff, Vice Admiral Ibok-Ete Ekwe Ibas, said the recoveries boosted the economy and denied criminal oil entrepreneurs of N75 billion.

The naval chief, who was represented by the Chief of Policy and Plans, Rear Admiral Ifeola Mohammed, said 2,287 illegal refineries were destroyed between 2015 and 2019.

He added that the highest number of 1,218 refineries

were destroyed in 2017 but decreased in 2018 and 2019 as a result of the swamp buggy operations in the Niger Delta, which made it difficult to reactivate illegal refining sites.

"The Nigerian Navy also recorded successes in anticrude oil theft operations and illegally sourced petroleum product, which has reduced illegal oil dealings within the Nigerian maritime environment from 2017-2019.

"For instance, in 2017, the NN denied criminal oil entrepreneurs dealing on illegal oil about 218,057 barrels of crude oil valued at about N3,724,413,560 and 60,553,415 litres of Automotive Gas Oil (AGO) valued at N11,807,915,925.

"Similarly, in 2018, illegal oil dealings of about 295,028 barrels of crude oil valued at about N5,039,078,240 and 23,991,325 litres of AGO valued at N4,678,308,375 were denied the criminal oil entrepreneurs by the NN.

"In the same vein, in 2019, the NN denied criminal oil entrepreneurs dealing on illegal oil 296,192 barrels of crude oil valued at about N5,058,959,360 and 42,729,530 litres of AGO valued at N8,332,258,350," he said.

He added that it was evident that the number of barrels and litres of crude oil and AGO denied the criminal oil entrepreneurs by the Navy decreased from 2017-2019.

"This could be attributed to the increased efforts of the operational bases and sensitisation and directives to all bases on zero tolerance to COT and illegal bunkering activities.

"The reduction in the number of illegal refineries located since 2018 is attributable to the success of Operation River Sweep, which resulted in the impounding of approximately 9,406,810 barrels of crude oil, 130,517,570 litres of AGO, 897,475 litres of PMS and 3,407,500 litres of DPK from

2017 to 20 May 2020," he said.

On refineries, the naval chief said naval operational bases deployed in the Niger Delta region cumulatively destroyed a total of 2,287 illegal refineries between 2015 -2019, adding that the operations are complemented with a series of swamp buggy operations in the areas where illegal refineries were discovered.

He said: "The breakdown of the destroyed illegal refineries from 2015 to 2019 shows that in 2015, about 140 illegal refineries were destroyed and 128 illegal refining sites were destroyed in 2016.

"However, in 2017, a total of 1,218 illegal refineries were destroyed, while 383 and 418 illegal refining sites were destroyed in 2018 and 2019 respectively.

"From records, 2017 recorded the highest number of illegal refining sites destroyed. This figure decreased in 2018 and later increased slightly in 2019.

"The reduction in the number of illegal refining sites destroyed from 2017 to 2019 could be attributed to the ongoing swamp buggy operations in the Niger Delta which makes it difficult for perpetrators to reactivate destroyed illegal refining sites."

Responding to a question on how the recoveries had impacted the economy, Ekwe Ibas said the Navy's intervention had led to a spike in oil output as the products, which would have been carted away were curtailed.

He said vessels were arrested and handed over to the Ministry of Justice for prosecution.

He said the vessels, depending on the nature of their cases paid fines and charges to the federal government.

On the activities of the Navy’s 64th anniversary, the naval boss said the current COVID-19 pandemic had necessitated a review of the

initial plan for the anniversary, noting that it would be limited to only a few activities to reflect the sombre mood in the country. “All ships would be dressed overall from May 25 to June 1. It is pertinent to state that this period will also witness the distribution of palliatives and donation of Personal Protective Equipment (PPE) by the NN. In this regard, the NHQ and all commands will further engage with designated authorities in host communities for distribution of palliative and PPE from May 28 to 29. “The NN will also commission a COVID-19 Isolation Centre in Lagos. This is with a view to supporting the federal government’s fight against COVID-19 pandemic.

Lastly, a modified and highly restricted ceremonial sunset will be held at command level on June 1 to mark the end of the week-long activities of the NN 64th anniversary,� he said.

NNPC Denies Favouritism in New Recruitment, Promotions Emmanuel Addeh in Abuja The Nigerian National Corporation (NNPC) yesterday denied allegations of lack of transparency in its recent graduate trainee employment process as well as top management promotion exercise executed by the corporation.

The national oil company listed unblemished academic competence, logical thinking, ability to engage meaningfully in problem solving, in addition to federal character, as key to becoming an employee of the corporation.

It said that to make progress in the management cadre, professional competence, accountability and transparency as well as

ensuring national spread in top management positions are critical factors that are not negotiable.

The House of Representatives had a gee days ago, said it would conduct a forensic investigation into the recent recruitment of graduate trainees by the NNPC with a view to determining how many persons were recruited from the various host communities.

But the NNPC's Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, in a statement in Abuja, stated that the basic academic requirement for newly employed graduate trainees in the corporation is a minimum of a Second-Class, Upper Division, or an Upper

Credit for Higher National Diploma (HND) certificate holders.

He said that alternatively, a candidate holding a Second Class Lower Division degree or an HND Lower Credit Diploma holder, must in addition have acquired a Master’s degree in a relevant field.

He said that was applicable in the last recruitment exercise where qualified applicants undertook computer-based test conducted by a neutral national examinations body, following which the best performers were further taken through a formal interview session to ensure their suitability.

Obateru stated that the end product of the 'rigorous

exercise' was the new set of employees who have shown a lot of promise since the beginning of the onboarding programme which started earlier this month.

According to the corporation, the testimonies of the new recruits attested to the transparency of the process.

The corporation further explained that the principle of federal character was also a factor in the progression of the newly appointees.

Throwing more light, the NNPC stated that many top management officers of the corporation were moved to new positions while some were promoted based on their verifiable track records of performance.

For instance, the corporation said that the erstwhile Chief Operating Officer (COO), Upstream, Mr. Roland Ewubare, was posted to the Ventures and Business Development Directorate as COO. "Under the arrangement, Ewubare, in the new order got an additional responsibility of business development, besides managing the group’s ventures" it said.

The NNPC maintained that Ewubare’s position as COO Upstream was taken over by Mr. Adeyemi Adetunji, erstwhile Chief Operating Officer in charge of Downstream directorate.

Obateru stated that the recent top management appointment also received

affirmative action with the redeployment of Ms. Lawrencia Ndupu to the Downstream.

According to him, changes were also spiced with the appointment of Mr. Bala Wunti, the erstwhile Managing Director of the Petroleum Products Marketing Company as the new GGM of the National Petroleum Investment Management Services (NAPIMS).

The corporation listed another top employee promoted on the basis of merit as Mr. Lawal Sade, Managing Director of the NNPC Trading Company, a subsidiary of corporation, while Mr. Adokiye Tombomieye, from the South-south, is still Group General Manager, Crude Oil Marketing.

flights available.�

The group said the trial would involve people of all age demographics — from children older than five years to the elderly — to help test the effectiveness of the vaccine, called ChAdOx1 nCoV-19, in a wider variety of people.

The vaccine, which was developed using an altered virus that affects chimpanzees, combined with the virus that causes COVID-19 in humans, SARS-CoV-2, had positive effects in animal trials.

It would now be given to subjects alongside a licensed vaccine, MenACWY, which is used to combat meningitis and blood poisoning, which would serve as a ‘control comparison.’ The head of the Oxford Vaccine Group, Prof. Andrew Pollard, said: “The clinical studies are progressing very well, and we are now initiating studies to evaluate how well the vaccine induces immune responses in older adults and to test whether it can provide protection in the wider population. “Preparation for mass production of the vaccine is already underway in anticipation of the trial proving successful.�

BUHARI LAMENTS RISING COVID-19 CASES, SAYS UPSURGE FRIGHTENING in the country.

Lagos Discharges 31 Additional COVID-19 Patients Lagos State Government has discharged 31 additional COVID-19 patients from its isolation centres, bringing to 738 the total number of successfully treated patients in the state.

Announcing this yesterday, Lagos State Governor, Mr. Babajide Sanwo-Olu, said the recovered patients were 12 females and 19 males, and all Nigerians.

He said: "Thirteen of the patients were discharged from the Onikan Isolation Centre, 11 from Gbagada General Hospital, five from Agidingbi Isolation Centre, one each from the Mainland Infectious Disease Hospital, Yaba and the Lagos University Teaching Hospital (LUTH).

"With this, the number of patients successfully managed and discharged from our isolation facilities has risen to 738.

"The discharge of COVID-19 patients is encouraging and we thank our front line health workers for the remarkable progress, we have made."

Bauchi Spends N4,500 Daily to Feed Each Patient Bauchi State Primary Healthcare Development Agency has said the state government spends N1,500 per meal or N4,500 daily to feed each COVID-19 patient on admission in the state.

The Chairman of the agency, Dr. Rilwanu Mohammed, in an interview with News Agency of Nigeria (NAN) in Bauchi yesterday, said Governor Bala Mohammad approved the sum in order to ensure that all the COVID-19 patients in the state were well fed.

He said the idea was to make sure that they feel more at home and avoid a replica of the protest by COVID-19 patients in some other states. “It was the state governor that ordered us that we should put N1,500 per single meal in a day. “That is, N1,500 meal during breakfast, the same amount for lunch as well as dinner because he doesn’t want anybody in isolation to suffer or complain so that we won’t have any riot like in some other states.

“This brings the total amount of money on meal per day to N4,500 on a single patient,� Mohammed said.

UK to Evacuate Additional 900 Citizens from Nigeria The United Kingdom has said it has organised three more charter flights to evacuate 900 British citizens from Nigeria.

According to a statement from the UK Embassy in Lagos, hundreds of more British travellers are set to return home from Nigeria.

More than 1,700 British travellers have already returned to the UK on special charter flights between April and May. Details of the new flights are: Friday, May 29: LagosLondon; Monday, June 1: Lagos-London and Saturday, June 6: Abuja-London.

The statement said a UKorganised special internal charter flight would travel from Port Harcourt to Abuja on June 6 to enable British nationals based in, or near, Port Harcourt to join the flight from Abuja to London.

Commenting on the new development, the Minister of

State for Africa, Mr. James Duddridge, said: “Brits in Nigeria will now have access to additional repatriation flights, meaning hundreds more will be able to fly home.

We’ve already arranged for around 1,700 people to return home to their friends and family and continue to support British nationals who remain in the country. “Our next phase of the UK government charter flights will mean another 900 British travellers are able to return home from Nigeria. We appreciate this has been a difficult time and will continue to work closely with the Nigerian authorities to support those wishing to return to the UK.�

The British High Commissioner to Nigeria, Catriona Laing, also expressed delight at the arrangement.

She said: “I am delighted to announce a third wave of flights to take more of our British travellers home from Nigeria – adding to the 1,700 people we’ve already helped since airports closed on 23 April. If you are eligible and wish to return to the UK, I’d urge you to book seats on these flights as they are likely to be the last charter

Breakthrough Beckons as UK Vaccine Trial Reaches Second Phase There seems to be a ray of hope in the fight against COVID-19 as a vaccine trial by a team of British researchers has entered the second phase following preliminary testing on a small sample size of 160 patients.

The researchers are aiming to produce their first one million doses of the COVID-19 vaccine by September if the trial is eventually successful.

The pharmaceutical giant, AstraZeneca, said it has the capacity to make a billion doses of the Oxford vaccine as it has secured an agreement to produce at least 400 million doses when the trial is complete.

The scientists from the Jenner Institute at Oxford University in collaboration with the Oxford Vaccine Group said the research had been ongoing since January and that they were now looking at recruiting over 10,000 people to take part in further trials following preliminary efforts in April.

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MONDAY MAY 25, 2020 ˾ T H I S D AY

NEWS

Military Killed 1,015 Boko Haram Terrorists in Two Months, Says Buratai Michael Olugbode in Maiduguri The Chief of Army Staff (COAS) , Lt . Gen. Tukur Buratai said yesterday that he led Nigerian troops in major victories that claimed the lives of 1,015 terrorists and also led to the arrest of 84 of their collaborators.

Buratai, who hosted troops of

Operation Lafiya Dole to Sallah Lunch, however lamented the loss of 11 soldiers and injuries to several others in the operations he had led since April 4, when he relocated to the troubled region to confront the terrorist group.

The Army Chief said despite the physical challenges that come with the spiritual exercise

of Lent and Ramadan, troops demonstrated “resilience, doggedness, as well as mental alertness” to successfully execute the operations in the past two

months against Boko Haram and ISWAP terrorists .

He said: “ Since the commencement of the special operations in the past two

months on my arrival on April 4, we have all put in concerted efforts, which have resulted in the killing of 1, 015 Boko

Haram/ISWAP terrorists and the arrest of 84 logistics suppliers and informants operating with the terrorists.”

UK May Seize Licence of Flairjet as FG Sanctions Airline Chinedu Eze The UK Civil Aviation Authority may seize the operating licence of the charter airline, Flairjet, which violated the rules in Nigeria by illegally operating charter service instead of evacuation it got approval for a week ago.

The federal government has reported the matter to the UK government and it may lead to a temporary seizure of the operating license of the airline.

The Minister of Aviation, Senator Hadi Sirika, who

stated this yesterday on his verified twitter account, disclosed that in addition to reporting Flairjet to the UK authorities, the airline has also paid penalties of N500, 000 each for violating two Nigerian Civil Aviation Regulations: IS 1.3.3 (a) Table 2 (IV) 7 (a) and IS 1.3.3 (a) Table 2 (VIII) (4).

“The maximum penalty for each is N500, 000. We caused them to pay and reported their callous misdemeanour to UK CAA, MFA and UK High Commission,” Sirika said.

Rivers Asks EFCC to Stop Media Trial Rivers State Government has condemned what it described as a fresh wave of media trial by the Economic and Financial Crimes Commission (EFCC).

In a statement issued yesterday by the state Commissioner for Information, Mr. Paulinus Nsirim, the state government cited a recent claim by the anticorruption agency that the state refused to release top officials for interrogation in connection to the withdrawal of N118 billion in cash between 2015 and 2018.

“We have repeatedly said that the state government will not release its officials to the

EFCC for investigations until the commission approaches the court to set aside subsisting orders of perpetual injunction granted by various courts of competent jurisdiction restraining the EFCC from investigating or inquiring into the financial transactions of the Rivers State Government, including its ministries, departments and agencies. In view of these subsisting judgments, it would amount to an act of brazen illegality for the EFCC to insist on interrogating any official of the Rivers State Government,” the commissioner explained.

Lagos Closes Marine Beach Bridge for Repairs The Lagos State Government has announced partial closure of the Marine Beach Bridge by Total Gas, inwards Apapa for five months to pave the way for emergency repair works.

The closure takes effect from Wednesday, May 27 to Wednesday, October 21.

Commissioner for Transportation, Dr. Frederic Oladeinde who made this known yesterday, said the repair works by the Federal Ministry of Works, is long overdue and vital for the safety of residents, especially

motorists that ply the bridge.

He also explained that necessary palliative works have been carried out on all alternative routes around the construction site, making them to be in good motorable condition to ease motorists’ movements during the construction period.

According to Oladeinde, the repair works, which comprised of bearing and expansion joint replacement is planned to be executed in two phases; with each phase focusing on one lane of the Bridge at a time.

Committee of Friends Congratulate Abe at 55 Committee of Friends of Senator Magnus Ngei Abe, the indefatigable crusader and Apostle of internal democracy in the All Progressives Congress (APC), has sent a message of congratulations to the Senator as he celebrates his 55th birthday.

The Committee of Friends, in a statement titled: “We are proud to associate with you: A purist,” which was signed on its behalf by Chief Tony Okocha, described Abe as a man who is able to hold strongly

to his opinion to the conviction and acceptance of all.

The statement further stated: “Your disposition to politics of all inclusion, without bitterness and rancor has created a place for you in our hearts.

“We have taken a second look at the six points communiqué reached at ‘The Meeting’ in Port Harcourt two years ago and we are convinced to say, that it was the right decision.

SECURITY ON THEIR MINDS...

L-R: Former Governor of old Anambra State, Senator Jim Nwobodo; Obi of Onitsha, Igwe Alfred Achebe; Deputy Governor of Anambra State, Dr. Ikem Okeke; Governor Ifeanyi Ugwuanyi of Enugu State; Chairman of South-east Governors’ Forum and Ebonyi State Governor, Mr. David Umahi; Governor Hope Uzodimma of Imo State; Deputy Governor of Abia State, Hon. Ude Oko Chukwu; and President-General of Ohanaeze Ndigbo, Chief Nnia Nwodo, during the expanded meeting of the South-east Governors’ Forum, held at the Government House, Enugu... yesterday

EFCC Urges Nigerians to Expose Foreign Assets of Corrupt Politicians KingsleyNwezehinAbuja The Economic and Financial Crimes Commission (EFCC) weekend said it was prepared to provide business intelligence to prospective investors in order to build confidence in the Nigerian business climate.

The anti-graft agency also urged Nigerians in diaspora to put more pressureonauthoritiesandgovernments

in their countries of residence to prosecute corrupt Nigerians hiding abroad.

Speaking weekend during a virtual town hall meeting with Nigerians in diaspora, anchored in London by the Host/Moderator of the group, Prince Ade Omole, the acting Chairman of EFCC, Mr. Ibrahim Magu said the commission was aware of the frustration, uncertainty and risks,

local fraudsters posed to prospective investors willing to invest in the Nigerian economy.

“The EFCC is ready to offer intelligence services to anyone seeking genuine business partners in Nigeria.

“Profiles of potential business partners in Nigeria would be obtained and delivered to the foreign-based investors and this would assist them in

taking decisions on whom to partner with locally”, he said.

Magu disclosed that the commission “can also offer intelligence on any line of business desired by the Nigerians in the diaspora. We are ready to do all these to encourage credible and serious investors who do not want to be defrauded by fraudsters at home”.

Italian Prosecutor Disclosed Adoke’s N300m Mortgage to Court, Says Coalition Davidson Iriekpen with agency report The key evidence in the trial of former Attorney General of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke, by the Economic and Financial Crimes Commission

(EFCC) has been presented to an Italian court by the prosecutor, a coalition of local and international anti-corruption movements, said yesterday.

The coalition, which has been working on the Oil Prospecting Lease (OPL) 245 issue, said contrary to media reports, the

evidence that the transaction traced to Adoke’s account was indeed a mortgage is now before the court trying Shell and ENI for alleged corporate corruption.

The coalition include: Human and Environmental Development Agenda (HEDA), Re-Common, Cornerhouse and Global Witness.

The EFCC had charged Adoke to court in Nigeria, accusing him of collecting N300 million bribe in the OPL 245 transaction but the former minister of justice has always maintained that the money traced to his bank account was a failed mortgage transaction.

Sanwo-Olu to Mark OneYear in Office With Inauguration of Projects Governor Babajide Sanwo-Olu attains one year in Office on May 29, 2020.

To commemorate the event, a number of programmes have been slated, starting with an address by the governor.

During the week-long ceremonies, Sanwo-Olu will

embark on virtual and on-site commissioning of Housing, Education, Transportation and Road projects in fulfilment of his promises to renew infrastructure in critical sectors of the economy.

According to a statement by the state Commissioner for Information and Strategy, Mr.

Gbenga Omosho, the governor will visit Ikorodu to inaugurate the 360-unit Lagos Homes, Igbogbo Baiyeku IIB Estate.

In Lekki, the Courtland Villas in Femi Okunnu Estate will also be launched to mark the first year anniversary of this administration.

In the Education sector, Sanwo-Olu will conduct virtual commissioning of completed classroom blocks in Maya Secondary School, Ikorodu; Eva Adelaja Junior School, Bariga; and Saviour Primary School, Ifako-Ijaiye, among others.

Legal Battle over First Guarantee Pension Resolved Kashim Ibrahim takes over as board chairman Iyobosa Uwugiaren in Abuja The seemingly legal war and boardroom politics that threatened billions of naira of pension contributors of First Guarantee Pension Limited (FGPL) for 10

years has finally been resolved, with the regulatory agency, National Pension Commission (NPC), giving the reconstituted board headed by Alhaji Kashim Ibrahim Iman few months to bring normalcy to the company.

In a letter with reference number: PenCom/NSP/ SURV/2020/511 dated May 1, 2020 and addressed to Chairman, Board of Directors, First Guarantee Pension Limited, Alhaji Kashim Ibrahim Imam, the NPC noted

that its regulatory intervention in FGPL, which resulted in the appointment of an Interim Management Committee (IMC) to superintend over the affairs of the company had been concluded.

Elumelu Moderates as Global Leaders Convene at UBA Conference The President of Senegal, Mr. Macky Sall; President of Liberia, Mr. George Weah and United States Senator, Chris Coons will form part of a high-level leadership panel to be moderated by the

Chairman, United Bank for Africa (UBA) and Founder of the Tony Elumelu Foundation, Mr. Tony Elumelu to discuss Africa’s economic recovery in the 2020 edition of UBA’s Africa Conversations.

The African Presidents and global leaders will be joined on the panel by other global leaders including the President and Chairman of the Board of Directors of the African Export– Import Bank (AFREXIMBANK),

Professor Benedict Okey Oramah; President, International Committee of the Red Cross (ICRC), Mr. Peter Maurer and President and Founder, Africa CEO Forum, Amir Ben Yahmed.

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SALLAH MESSAGES...

MONDAY MAY 25, 2020 ˾ T H I S D AY

SALLAH MESSAGES...

Muslims Shun COVID-19 Protocols, Storm Prayer Grounds Our Correspondents Despite the warning by the Presidential Task Force on COVID-19 headed by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, that Muslims should maintain social distancing, Muslims in many states still observed their prayers at the prayer grounds without observing the COVID-19 protocols.

The Nigeria Supreme Council for Islamic Affairs (NSCIA), through its Deputy Secretary General, Prof Salisu Shehu, had also urged Muslims to avoid massive gatherings at one Eid ground in a big city, insisting “rather the Eid could be performed in area mosques to avoid unmanageable crowds.”

However, in some northern states, particularly Katsina, and Zamfara, Muslims gathered in their large numbers at prayer grounds in violation of the guidelines of the Presidential Task Force on COVID-19 and the directive of the Muslim leadership.

In Zamfara State, prayers were performed at Juma’at prayer grounds, without the use of face masks or maintaining social distancing.

Also in Katsina State, Muslims were seen in large numbers at Eid grounds without observing social distancing.

Ugwuanyi Calls for Prayers, Abiding Faith in God On the occasion of this year’s Eid-el-Fitr, which marks the end of Ramadan, Governor Ifeanyi Ugwuanyi of Enugu State has enjoined Muslims and indeed all Nigerians, to remain resolute in their abiding faith in God, through prayers and sacrifice, as the nation battles to contain the spread of the novel Coronavirus disease otherwise known as COVID-19).

In a statement yesterday, Ugwuanyi, who congratulated President Muhammadu Buhari and other Muslim faithful on the successful completion of Ramadan, added that the religious exercise would go a long way in the nation’s collective efforts to winning the war against COVID-19 as well as sustain the peace, unity and progress of the country.

AbdulRazaq Greets Muslims, Says Ban on Large Gatherings Stays Kwara State Governor, AbdulRahman AbdulRazaq, has felicitated with the Muslim community over the completion of the Ramadan fast, praying the God to reward and grant the supplications of the faithful.

The governor however, called on Muslims to observe their Eid prayers at home as the ban on large social and religious gatherings — as is typical of the end of Ramadan prayers — remains in place as part of the measures to curtail the spread of COVID-19 pandemic.

“We congratulate our Muslim brethren on the successful completion of Ramadan fasting, and pray the Almighty Allah to accept it as an act of worship, forgive our excesses, grant all our supplications during and after the holy month, and gift us long life and good health to observe several Ramadan in the best state of faith in God,” the governor said in a statement by his spokesman Rafiu Ajakaye.

Fayemi Felicitates with Muslims, Urges Modest Celebration Ekiti State Governor, Dr. Kayode Fayemi, has felicitated with Muslim faithful in the state and in the country on the celebration of Eid-el-Fitr, which marks the end of the holy month of Ramadan.

The governor in his Eid-el-Fitri message, in Ado-Ekiti on Saturday, congratulated the Muslim faithful on the completion of the 30-day fast, stressing that the spiritual exercise had drawn them closer to Allah.

Fayemi who is the Chairman of the Nigeria Governors’ Forum admonished Muslims to put the teachings of the holy month to good use in all undertakings.

Tambuwal Salutes Muslims, Health Workers for their Courage The Governor of Sokoto State, Aminu Waziri Tambuwal, has felicitated with Muslims Ummah as they joined the world to celebrate Eid-el-Fitri In a state wide broadcast in the early hour of Sunday, Tambuwal urged them to imbibe the spirit of godliness, perseverance and intercession.

He thanked Almighty Allah for His innumerable mercies and for making it possible for them to witness the blessed day after the mandatory Ramadan fast.

He enjoined the people to remain steadfast in imbibing the culture of compassion, honesty and peaceful coexistence, as salient lessons of the Ramadan.

He equally saluted the courage of people to complete this year Ramadan despite the challenge posed by the outbreak of coronavirus .

CELEBRATING AT A DISTANCE…

L-R: Personal Assistant to Osun State Governor on Domestic Affairs, Alhaji Kazeem Badiru; Aide-De-Camp, Mr. Jimoh Akinloye; Governor Adegboyega Oyetola, and his driver, Mr. Adebisi Fatai, during the Eid-ul-Fitr prayer in Osogbo…yesterday imbibe the spirit of forgiveness, love, generosity and respect for

El-Rufai Commends Muslims for one another.

Obaseki Lauds Muslims for their Fasting Under Quarantine Devotion, Resilience Amid Pandemic Governor Nasir El Rufai of Kaduna State has commended the patience and understanding displayed by Muslim faithful in observing this year’s Ramadan fast under quarantine.

In his Eid-el-Fitr message signed by the Special Adviser on Media and Communication, Mr Muyiwa Adekeye, the governor “Prayed that Almighty Allah will amply reward and bless these efforts.’’

El Rufai ‘’praised the spirit of sacrifice and resilience displayed by the community during the fasting period and called for continued adherence to public health guidelines to protect citizens from Covid-19.’’

The governor noted the challenges that the COVID-19 pandemic has created which limited the traditions associated with fasting and the celebration of Eid-el-Fitr this year.

The governor commended the Muslim community “for abiding with the public health guidelines, and avoiding congregational worship and communal gatherings to break the fast.’’

Bagudu Admonishes Muslims to Sustain Lessons Learnt During Ramadan Governor of Kebbi State, Atiku Bagudu, has admonished the Muslim Ummah to sustain the noble lessons learnt in the holy month of Ramadan, to outlive the period.

Listing the lessons to include: Patience, perseverance, piety, philanthropy and good neighborliness, Bagudu said the prayers during Ramadan was not in vain, stressing that as of now, only five COVID-19 patients remain in the Isolation Centre in Birnin Kebbi, the state capital.

The governor, in his Sallah message to the people of the state delivered shortly after the Eid prayers in Birnin Kebbi, expressed happiness with the development, saying, “this shows that, we in Birnin Kebbi are winning the war against the dreaded pandemic.

He appealed to the people of the state to sustain the current tempo of invaluable support to the fight against the disease.

Agba Preaches Peace, Love, Brotherhood The Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, has congratulated Muslim faithful on the successful completion of the Ramadan.

In the minister’s Eid-el-Fitr message, contained in a press statement signed by his Special Assistant (Media), Sufuyan Ojeifo, he urged them to take the opportunity provided by the season to engender the spirit of peace, love and brotherhood in their relationship with adherents of other faiths.

He quoted the minister to have said: “I congratulate our Muslim brothers and sisters on the occasion of this year’s Eid-el-Fitr, and I pray that the blessings of Ramadan will be with them.

“May Allah accept your fasting and pray for you to witness many more occasions of Ramadan in good health and prosperity.

Bauchi Gov Urges Muslims to Emulate Prophet Muhammad Bauchi State Governor, Senator Bala Abdulkadir Mohammed, has enjoined Muslim ummah in the state to emulate Prophet Muhammad by making sacrifices for the benefit of less-privileged members of the society as they celebrate this year’s Eid-el-Fitr.

The governor in a goodwill message on the occasion of the 2020 Eid-el-Fitr celebration, urged them to use the celebration to reflect on their past activities so that they may take corrective measures towards improving their relationship with their creator.

According to him, Eid-el-Fitr celebration marks the end of the mandatory fasting which entailes abstinence from some of the most basic human needs such as eating, drinking and pleasure of the flesh during the day.

He also called on them to consider the occasion a period to

The Edo State Governor, Mr. Godwin Obaseki, has felicitated with Muslim faithful on the Eid-el-Fitr celebrations, after the completion of the Ramadan fast amid the coronavirus (COVID-19) pandemic.

In a statement, the governor urged Muslims to promote a life of sacrifice, charity and love for one another.

According to him, “On behalf of the government and people of Edo State, I felicitate with our Muslim faithful on the occasion of Eid-el-Fitr after completion of the Ramadan fast, a major pillar of Islam. It is impressive that the Ramadan fast was observed most devotedly amid the coronavirus pandemic, with the relevant government regulations observed by Muslim faithful in the state.

Ortom Calls for Sustained Fight against Pandemic Benue State Governor, Samuel Ortom, has urged them to continue to observe COVID-19 protocol to prevent the spread of the disease.

The governor implores the Muslim faithful and other Benue people to adhere to preventive measures such as social distancing, wearing of facemasks, the use of alcohol based sanitizers and hand washing with soap.

He made the call in Makurdi even as he commended the people of the state for the impressive level of compliance with the measures taken by his administration to curb the virus.

Governor Ortom felicitated with all Muslims for the successful completion of Ramadan fast, and admonished them to promote the values of piety, tolerance, peaceful coexistence and justice, as Prophet Muhammad exemplified.

Malami Urges Muslim to Be Law-abiding Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami yesterday felicitated with Muslims faithful all over the world on the occasion of this year’s Eid-el-fitr, urging them to be law-abiding anywhere they found themselves Malami in a statement issued by his media aide, Dr. Umar Gwandu, noted that Ramadan fast comes with numerous lessons including sincerity, honesty, commitment, sacrifice, selflessness, introspection and empathy, among others.

He therefore urged Muslims as they celebrate Eid-fitr to continue to be law-abiding, have sober reflection and exhibit the imbibed lessons learnt during the period of Ramadan fast.

“In view of the COVID-19 pandemic, Malami charges Muslims to observe all laid down safety protocols and guidelines issued by the authorities with a view to contain the spread of the disease in the country.

MONDAY MAY 25, 2020 • T H I S D AY

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MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

GUINNESS BOOK PROJECT

FG Tells Bash Ali to Look Elsewhere for Sponsorship Duro Ikhazuagbe Federal Government yesterday foreclosed any involved in the proposed Guinness Book World Boxing Project being promoted

by Nigeria’s former World Cruiserweight champion, Bash Ali. John Joshua Akanji, the Special Adviser on Media to the Minister of Youth and Sports Development, stated in a statement on Sunday that the proposed fight falls under the purview of the Nigerian Boxing Board of Control (NBBofC) which is purely a business concern.

Bash Ali in 1985 made history as the first World Boxing Federation (WBF) cruiser-weight boxing champion from Africa. The 63-year old pugilist has not had any professional fight in the last one and half decades.

He has kept this dream of a place in the Guinness Book as the oldest boxer to win a world title going for more than 15 years with no clear sign of the bout taking place.

According to the ministerial aide, the government position is not new as the Federal Ministry of Youth and Sports Development had in previous documents and correspondences with Bash Ali, through his lawyer, B.O. Nafagha & Co., notified him of the decision not to be involved in the proposed fight. “ We are using this medium to ask Bash Ali to refrain from acts that interfere with the activities of the Federal Ministry of Youth and Sports Development, where the former World Cruiserweight Champion has been pressuring officials to endorse the fight,� observed Akanji in the statement.

He said Bash Ali has now lost the ability to coerce the Ministry into supporting the novelty bout.

He said that the ministry was directed by the Presidency not to interfere in a matter over which another organization has jurisdiction. “The situation has been made worse recently when the boxer showed up at the Ministry with a bag that he claimed contained N2million which he said was the balance left from a N15 million out-

Bash Ali has been snubbed by the FG in his quest to become the oldest boxer to win a world title ďŹ ght

of-court settlement after paying his lawyers,� claimed the Special Adviser to the minister.

Ali was advised to use the Remita platform if he was interested in making refunds to the Federal Government in line with the Treasury Single Account practice.

A letter written to Bash Ali’s lawyer read in part: “the Ministry under the directive of President

Muhammadu Buhari in a letter dated 10th March, 2020 made it clear that it is not the proper platform for your client to realize his pet project.�

It further said “And as a final note I am directed to advise your client to restrain from engaging in any act capable of creating a difficult atmosphere for the Ministry and its staff to carry out their functions.�

Lille, NFF Commiserate with Osimhen over Dad’s Death The management of Lille and the Nigeria Football Federation (NFF) have sent condolence messages to Super Eagles forward, Victor Osimhen over the death of his father Patrick Osimhen on Saturday evening.

The Nigeria and LOSC player announced the passage of his father via his official Twitter handle on Sunday morning. “Rest in peace dad. I have no words to describe this feeling,�

Osimhen wrote on social media.

Few moment after the announcement, Lille paid homage to the deceased Patrick Osimhen on Twitter, stating : “ Today we learned with great sadness of the passing of @ victorosimhen9’s father. “The entire LOSC family is joined in grief with Victor and his family. He has our full support during this difficult time.�

Similarly, while also reacting to the sad news, the NFF wrote on the federation’s verified Twitter handle: “Our thoughts and prayers are with you and your family at this time. Take heart and stay strong @victorosimhen9.�

Just at the weekend, the

Victor Osimhen...loses dad Under-17 World Cup winner at Chile 2015 now on the radar of several top European clubs was nominated for Lille’s Player of the Season for the 2019-2020 campaign.

The former Wolfsburg starlet, who scored 18 goals in all competitions last term, was named Lille’s Player of the Month for August and September 2019.

Meanwhile, Lille have offered their prized Nigerian forward a private jet to come to Lagos to be with his siblings.

President of the NFF, Amaju Pinnick, confirmed it in the federation’s condolence message issued yesterday.

Uzoho Dismisses Rivalry with Akpeyi, Ezenwa but Okoye Femi Solaja with agency report Super Eagles’ first choice goal keeper, Francis Uzoho, yesterday dismissed any threats from the duo of Ikechukwu Ezenwa and Daniel Akpeyi but would rather be wary of Maduka Okoye when the international window resumes after the Covid-19 era.

The lanky goal keeper who is expected to return action after a long spell on the side line with inury in an interview with www. owngoalnigeria.comyesterday explained that the duo of Ezenwa and Akpeyi who shared the goal post with him during the last AFCON 2019 tournament in Egypt are not his main rival but the young Okoye.

The trio of Uzoho, Akpeyi and

Ezenwa all played a part at the last AFCON tournament where Nigeria won the bronze.

The third placed match against Tunisia was Uzoho’s only match since after the World Cup finals in Russia where he was strongly criticised by Nigerian fans for below average performance.

Uzoho who has alternated his role as first choice with the duo insisted that he doesn’t see them as his competitors because they are way older than him.

He said only Okoye who is about his age is the only one he sees as the main threat of becoming the first choice goalkeeper of the national team.

Uzoho said he has seen enough of Okoye in training to suggest that the 20 year-old who is close to joining Sparta Rotterdam on a free

transfer from Fortuna Dusseldorf has what it takes to upstage him. “It is different. I am a young guy and still have a long way to go. Daniel (Akpeyi) is 32 years old and Ezenwa is his thirties so they are not going to be there for a long time. That is why I was a little less worried�, he said. “Assuming it was, say, Maduka (Okoye) or someone else within my age that stripped me of my position I would have been more bothered. “Maduka is close to my age. If he was the one that stripped me, I would have been a bit more worried because of the competition. I am not saying Daniel and Ezenwa are not in competition, but they are above 30 so I have enough time to play my game and get my shirt back,� Uzoho concluded.

Monday May 25, 2020

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Price: N250

MISSILE

SERAP to Wike

“Wike is using COVID-19 as a pretext to step up repression and systematic abuses against the people of Rivers State, including by carrying out mass arbitrary detention, mistreatment, forced evictions, and imposing pervasive controls on daily life” – Socio-Economic Rights and Accountability Project suing Governor Nyesom Wike for violating the rights of the people of Rivers State.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

From Madagascar With Love “Herbal medicine has been around for thousands of years! Indeed, it has and we tested it all, and the stuff that worked became “medicine”. And the rest of it is just a nice bowl of soup and some potpourri” Dara O Briain “The person who takes medicine must recover twice, once from the disease and once from the medicine”- William Osler

T

he Republic of Madagascar is an Island country off the coast of East Africa.

She is a former French Colony that secured independence in 1960. Their main economic resources are textiles, tourism, agriculture, and mining. About 52% of the population practise traditional religion while the rest are predominantly Christians. It has a population of about 26 million people and covers an area of 592, 800 square kilometers (for proper context Nigeria covers an area of 923,768 square kilometers making Madagascar 64% the size of Nigeria). Still on the comparative plane, Madagascar has 44,000 people per square kilometre while Nigeria has 216,500 people per square kilometre. An interesting fact about Madagascar is that it is blessed with various plants and animals that can hardly be found anywhere else in the world. No less than 170 palm species can only be found in Madagascar.

In fact, it is on record that more than 80% of the country’s close to 15,000 plant species are endemic, meaning they can only be found in Madagascar. Many of these plants over centuries, have been used as natural herbal remedies for different ailments. Some popular drugs for the treatment of leukemia and other types of cancer are made from Madagascar Periwinkle, a plant whose scientific name is “Catharanthus roseus”. Madagascar Periwinkle is also used for treatment of diabetes, sore throat, cough, and lung congestion.

The advent of the novel Coronavirus Pandemic has once more brought to the fore, the debate about the efficacy and safety of traditional healing methods as against the seemingly more sophisticated and modern orthodox medicine.

Some people refer to them as alternative medicine versus western or conventional medicine. We are of the view that Western medicine would always find itself on a collision course with traditional healing therapy as the latter would not always lend itself to scientific tests and proofs. This becomes even more so as the steps for scientific examination and tests are set by western medicine itself.

I recall vividly, a lecture delivered at the end of February this year, by Mr. Ugochukwu Okoroafor, a retired Director of the Central Bank of Nigeria, at the graduation ceremony of students of the Faculty of Pharmaceutical Sciences of the University of Port Harcourt. Excerpts of that lecture, ‘Facing the Brave Future’, were published on the back page of this newspaper on March 7, 2020. That lecture was delivered just before Covid-19 was declared a pandemic and his observations could not have been more prescient! He had challenged the fresh pharmacists interested in pharmacology, to embark on ‘Herb and Lab’ initiatives, in which they would pay more attention to the discovery and mainstreaming of the bounties of the African rainforests which habour numerous herbs and plants that could hold the solutions to many of the world’s intractable diseases and illnesses.

He also warned against the persisting ‘Illicit Gin Mentality’, in which we have been brainwashed into accepting everything from the West as superior, while rejecting our age-old solutions

Buhari and alternatives. According to Mr. Okoroafor, “those familiar with history will recall handily that one way the colonialists protected their export market, like Nigeria, for their infamous ‘fire water’ – gins, whisky and schnapps, was to slam their local equivalent, with the demeaning name of ‘illicit gin’. For good measure, the subliminally powerful word, ‘Imported’ was put on such foreign tipple. Somehow, the sobriquet and the mentality of ‘illicit gin’, has remained with us long after colonisation”. We have been made to perceive most of our indigenous practices and products as ‘illicit’. In the search for a cure for Covid-19, the ‘Illicit Gin mentality’ seems to be playing out once again. We must guard against that and ensure that we champion our own brew. This could be the clarion call to banish that mentality for good!

The Madagascar Covid -Organics (CVO) is said to be the cure for Covid -19. Madagascar had touted this therapy as being efficacious in the control of the Pandemic in the country. As at the time the country was pushing the CVO therapy, Madagascar had very low numbers of infections and no death related to the pandemic.

Recently, the country has recorded two deaths and hundreds of infections. But they still believe that their therapy works and have been promoting it particularly in Africa. Early adopters of the Madagascar therapy include Tanzania, The Republic of Congo (Brazzaville), and Senegal.

In fact, the case of Senegal is interesting because it has done a good job of local production of cheaper alternatives in the fight against the Pandemic. It is reported that Senegalese scientists invented a $1 dollar testing kit that produces quicker results than the huge PCR molecular testing machine that is not only very expensive but relatively inefficient, in terms of getting test results.

Senegal also locally produced cheap ventilators that cost about $60 a piece as against imported ones that cost around $16,000. Not too long ago, Nigeria joined the other African countries to place orders for the CVO. The consignment, which was delivered by the President of Guinea Bissau, Umaro Embalo to President Buhari was accompanied by an invoice of 170,000.00 Euros, (about N78m).

The CVO is a herb therapy from a plant known as Artemisia Annua. Artemisia is not new to the medical world as it is a herb that has malaria treatment capability. The use of Artemisia dates back to 340BC when it was identified as part of Chinese traditional anti malarial medicine.

The more familiar drug Coartem designated by the World Health Organisation(WHO) as one of the most effective anti-malarial treatment, comes from Artemisia therapy. Also, from this family is another anti malaria drug known as Artesunate. Orthodox Medicine has, however, refused to accept CVO as a cure for Covid-19.

The President of Madagascar, Andre Rajoelina has consistently accused WHO of refusing to recognise the homegrown therapy because it is made in Africa. WHO on its own part continues to warn against the use of Covid-Organics as a cure because it has not gone through the approved protocols that would enable it to be certified as a course of treatment for Covid-19. The protocols are like a book work. Unless it satisfies the rigorous scientific process, WHO cannot lend its name to it. This process relies heavily on clinical tests, more tests and replications, just like any other laboratory work. It is imperative that for a drug to be certified by WHO, that drug must go through the rigor of clinical tests and it takes time. Sometimes, you would be talking about 12 to 24 months. The other observable challenge is that herbs, plants and other traditional medication would find it difficult to pass the tests and get certifications. But we are all witnesses to the efficacy of traditional or alternative medicine in dealing with common ailments in Africa.

Some of us as young people and growing up in villages, hardly visited hospitals nor took western medication. If one had malaria which was the common disease at that time, one was made to take drinks from some medicinal plants like Agbo or Dogonyaro, also known as Neem leaf. Other leaves and plants that are known to be medicinal are Bitterleaf, Bitter kola, Moringa, Aloe Vera, Scent leaf, Candle plant, Lettuce, Mint leaf, Water leaf and so on.

Alternative medicine seems to be losing its place in most parts of Africa. In the first place, the blurred line between divinity, spiritualism, mysticism, magic and herbalism did not help traditional African medicine. So, when the traditional healer also administers herbs and plants, he is derogatorily described as a native doctor. But we know that a lot of the western medicine as we know them today have something to do with herbs, plants and other naturally occurring substances. The blanket perception of herbs and plant therapy as inferior to the western medication has left our God given resources and the intellect that goes with it, fallow. We believe that this is the perspective from which the Madagascar President has been fighting. We believe that we should not leave Madagascar alone to wage this war. It may be true that Madagascar has not treated enough people with CVO to warrant its proclamation. It may even be that the therapy is not an effective treatment for Covid-19, but just like President Trump would ask when he was being pilloried for pronouncing HydroxylChloroquine the treatment for Covid-19, what do you have to lose? Some of these therapies are taken as tea, coffee, soft drinks or even as they are, so the argument of side effects and safety hold no water. Again, some recovered patients have claimed that their symptoms were similar to malaria symptoms and they recovered after taking drugs used for malaria treatment and since Artemisia is a proven therapy for malaria, it won’t be unreasonable to expect that the CVO would work.

There are no less than eight lessons to learn from Madagascar with respect to their therapy.

The first is that, as a country blessed with natural resources and not just oil, but plants and leaves, we should recognise the medicinal qualities of these resources. These qualities had

always been there as explained earlier. Secondly, we should invest in research and development using the skills of our brilliant human resources to convert them into medicines for treatment of common diseases that afflict us instead of waiting for western medicine which may rely on the same resources found at our backyard.

Third, we should not underrate the place of packaging. The way Madagascar bottled and branded the Organics makes it very attractive even to those who would rather describe it as quackery . Fourth, we should stand up and defend our innovations and civilizations against attack by forces outside our influence and not be intimidated into adopting only what they approve. Fifth, even when we don’t get the approval or recognition of the western world or even China for that matter, Africa, with a population of over 1.3 billion people and of course Nigeria with 15% of that population, is a large enough market for our products and innovations and we should work to capture the local market first even if the rest of the world refused to patronise us. The sixth lesson is that forthrightness pays. This is borne out of the fact that WHO, an institution which refused to pay attention to the Madagascar formulation just a few days ago, has finally started to engage the government of Madagascar. It has been reported that theWHO Director General, Dr. Tedros Ghebreyesus, has had a virtual meeting with President Rajoelina on the Covid Organics formulation where the former agreed to sign a confidentiality agreement and promised to support the clinical observations in Africa. There’s no doubt that this concession by WHO only happened because Madagascar stuck to its guns, started shipping the therapy to African countries and carried out a strong campaign for its use, a campaign which many African countries signed on to. The seventh lesson from Madagascar is that we should pay more attention to the political economy of the whole medical and pharmaceutical industry than anything else including saving lives. That is why no matter how much we try to fight it, the conspiracy theories do not seem to want to go away. Some people have even argued that the virus was manufactured to enable the big pharmaceutical industry do more business. It is therefore imperative to understand that any inventions not coming from ‘the usual suspects’, would find it difficult to be accepted. Meanwhile, the direction from where vaccines and cures are expected, says we should wait another one year even as more deaths are recorded daily.

The eight and final lesson from Madagascar is that there is no free lunch even, as they say, in Freetown. When the campaign to ship CVO to African countries started, some of us thought Madagascar was sending free samples to brother African countries to test and confirm the efficacy of the therapy and then decide to place an order or not. That was not going to be! If we were in the shoes of Madagascar, we would have been generous enough to despatch the formulation free of charge. Madagascar is not wired that way. As you received your consignment, you received an accompanying bill with it. That was why our own portion came with an invoice.

Given that it was going to be paid for, recipient countries would take it seriously and Madagascar will remain in business.

Now, to our Covid experts, we have a question for you: how is the Madagascar therapy is doing?

Please permit me to wish our Muslim faithfuls a happy Sallah celebration. Eid Mubarak.

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