THURSDAY 9TH MAY 2024

Zenith Bank Delivers on Promise of Shareholders Value With Record Dividend Payout

In his opening statement at the Annual General Meeting, Dr. Jim Ovia, CFR, Founder and Chairman of Zenith Bank Plc, thanked the shareholders for their unflinching support and loyalty to the Zenith brand which has been instrumental

to the bank's consistent superior performance.

The Group Managing Director/ Chief Executive Officer, Dr. Ebenezer Onyeagwu, thanked the Founder and Chairman, Jim Ovia, CFR, for his mentorship, which has been

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under her leadership. I would like to express my profound gratitude to our Founder and Chairman, Dr Jim Ovia, CFR, and to the board, shareholders, customers, and

instrumental to his success in the last five years as CEO, and for providing the pedestal for the bank's continued superior performance. In his words, “As I prepare to pass the baton to Dame (Dr) Adaora Umeoji, OON, I am confident in the bank's trajectory Continued on page 9

Fubara’s Men Upstage Martin Amaewhule, Elect Victor Oko-Jumbo New Speaker

New Assembly head nullifies actions of exspeaker, asks gov to stop dealing with them PDP blasts APC over impeachment threat against Rivers gov Insists state lawmakers illegal before law Elders advise Assembly members to wait for court judgement

Nume Ekeghe Shareholders

and Chairman of Zenith Bank Plc, Jim Ovia, CFR (Centre) flanked by the Group Managing Director/Chief Executive, Dr. Ebenezer Onyeagwu (Left) and the Deputy

Director, Dame (Dr.) Adaora Umeoji, OON (Right) during the 33rd Annual General Meeting of the bank held at The Civic Centre, Victoria Island, Lagos ...yesterday

davidson iriekpen, emma okonji in Lagos, Chuks okocha in Abuja and Blessing ibunge in Port Harcourt Rivers State’s unremitting political cri-

CondolenCe Visit to nsA...

L-R: The Deputy President of the Senate, Senator Jibrin Barau during a condolence visit to the National Security Adviser (NSA), Mallam Nuhu Ribadu, in Abuja, on Wednesday, over the passing of his brother, Salihu Ahmadu Ribadu.

CBN Extends Suspension of Charges on Cash Deposits Above Approved Thresholds to Sept 30

Publishes list of licenced deposit money banks

The Central Bank of Nigeria (CBN) has announced an extension to the suspension of processing fees of two per cent and three per cent previously imposed on all cash deposits above N500,000 for individuals and N3 million for corporates, respectively, with immediate effect.

CBN said the suspension would remain in effect until September 30, 2024, from April 30, 2024.

The bank disclosed the suspension in a circular dated May 6, 2024, signed by CBN’s acting Director, Banking Supervision, Dr. Adetona Adedeji, which was addressed to all banks, Other Financial Institutions (OFIs), and non-bank financial institutions under the apex bank’s regulatory supervision.

The central bank further ordered the financial institutions under its purview to accept all cash deposits from the public without any charges

going forward.

The charges were first suspended in December 2023 amid the cash crunch that hit the banks as customers preferred to keep their money away from the banks, partly, because of the exorbitant charges on deposits, especially those exceeding the approved threshold, following the implementation of the cashless policy.

On December 20, 2019, the central bank introduced the revised "Guide

to Charges by Banks, Other Financial Institutions and Non-Bank Financial Institutions," which had detailed approved charges for banking services.

The document provided a basis for the application of charges on various products and services offered by banks and other regulated institutions under its purview.

The guide, which was first released in 2004, was revised in 2013 and 2017 in the light of market

FMBN to Deepen Housing Financing to Raise Contribution to GDP

emmanuel Addeh in Abuja

The Federal Mortgage Bank of Nigeria (FMBN) yesterday restated its commitment to deepening affordable housing financing to increase its contribution to Nigeria’s Gross Domestic Product (GDP).

Speaking when a team led by the Chief Executive of the Association of National Accountants of Nigeria (ANAN), Olusola Fashola, visited him in his office in Abuja, the Managing Director of FMBN, Shehu Osidi, noted that it provided the opportunity to deepen engagement between both organisations.

Osidi stated that the bank was also eager to learn from the vast experience and wisdom of ANAN and was ready to explore how both bodies could work together to advance shared goals and objectives.

The FMBN chief executive stated that the bank was established to provide affordable mortgages to drive home ownership among Nigerian workers, particularly low and medium income earners.

“In doing this, our overall focus is to deepen the housing finance and mortgage sector to improve its contribution to the GDP, enhance homeownership among Nigerians for wealth creation and economic prosperity and drastically reduce the housing deficit.

“ This is a template we have committed ourselves to implementing through the agenda the current management has set for itself,” he added.

Since the FMBN executive management came in barely 3 months ago, he stated that it had set about conducting the affairs of the bank methodically, concentrating

on seven core but broad agenda to further deepen the ongoing reforms and usher remarkable turnaround.

“These include deepening process automation, promoting cost efficiency, enhancing credit quality & reducing non-performing loans, effective project management, expanding strategic partnerships, enthroning a robust organisational/employee performance management system standardised capacity building/talent management,” he stressed.

He assured of the readiness of the new executive management to deliver on its mandate as encapsulated in the FMBN vision

and mission.

Osidi lauded ANAN for its critical contributions and interventions in the Nigeria's economic landscape particularly in deepening knowledge base and expanding skill sets in the financial services sector.

In his remarks, the chief executive of ANAN, Fashola, said that ANAN was established in 1979 and was chartered in 1993, with over 56,000 members across the 36 states of Nigeria, including the FCT, United Kingdom, United States of America, Canada, and Côte d'Ivoire.

While soliciting FMBN’s partnership, Fashola stated that ANAN was

not just a professional accountancy organisation in Nigeria, but a council member of the accountancy bodies in West Africa.

He noted that the body was set up to professionalise accountancy in Nigeria, stressing that since the Nigerian College of Accountancy was established in Jos, it had run non-stop for the past 30 years.

He explained that on the average, the college has, on a yearly basis, produced 5,000 students. Fashola also stated that the formal process of bestowing a fellowship on the FMBN boss was almost at the verge of completion.

developments, such as innovations in products and/or channels and new industry participants.

The bank pointed out that the charges prescribed in the guide were arrived at after extensive consultation with stakeholders. It said the intendment of the guide was to enhance flexibility, transparency, and competition in the Nigerian banking industry.

Hence, where a charge was stipulated as "negotiable", financial institutions were required to draw the attention of customers to their rights to negotiate and the two parties were required to mutually agree on the applicable charge via a verifiable means.

Although the guide provided for charges on various products and services of financial institutions, it was not exhaustive, the central bank stated.

Financial institutions were required to present any new product, service, or charge not covered by the document to the CBN for prior written approval.

Separately, the central bank also published the comprehensive list of licensed Deposit Money Banks (DMBs) operating within the country.

The list was posted on the CBN website to update the public on the eligible financial institutions operating lawfully.

The publication came amid recent proliferation of financial services institutions, which might not be

licensed by the apex bank, as well as licensed banks, which appeared to have operated beyond their license categories.

The list further categorised the banks according to their licenses. CBN stated that as of April 26, 2024, banks with international authorisation included Access Bank Limited, Fidelity Bank Plc, First City Monument Bank Limited, and First Bank Nigeria Limited.

Others were Guaranty Trust Bank Limited, United Bank for Africa Plc, and Zenith Bank Plc. CBN also listed commercial banks with national authorisation to include Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, Globus Bank Limited, and Keystone Bank Limited. Others included Polaris Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Limited, Sterling Bank Limited, and Titan Trust Bank Limited. Others were Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, Premium Trust Bank Limited, and Optimus Bank Limited.

In addition, commercial banks with regional licenses included Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited. The central bank also listed Mauritius Commercial Bank Representative Office (Nigeria) Limited.

The chairmen of the Peoples Democratic Party (PDP) in Yobe and Borno State have obtained a court order restraining the National Executive Committee (NEC) from removing the acting National Chairman of the party.

On April 18, the NEC of the party directed that a process for the replacement of Illya Damqgum as the acting national chairman.

The NEC-in-Session directed that at the next meeting on August 18 that a new substantive national chairman shall emerge, while Damagum would revert to his earlier position as the deputy

national chairman.

In the SUIT NO: F#C/ ARS/C/579/2024 between UMAR EL-GASH MAINA and ZANNA MUSTAPHA

GADDAMA as Plaintiff and the PDP, NWC, Board of Trustees and INEC dated May 2 2024 gave an interim order thus: "That the Acting National Chairman of the 1st Defendant/Respondent shall not be replaced pending the hearing and determination of the Motion on Notice. "an order of interim injunction restraining the 5th Defendant/ Respondent, its agents, officers or privies from according recognition to any person other than

Amb. Umar Illiya Damagum as Acting National Chairman of the Ist Defendant/Respondent or giving effect to or acting upon any document purporting to be signed by the National Chairman or Acting National Chairman of the 1st Defendant/ Respondent without the name and signature of Amb. Umar Illiya Damagum as the Acting National Chairman pending the hearing and determination of the Motion on Notice.”

Accordingly, the judge, Justice P.O.Lifu of the Federal High Court said, "it is hereby ordered: The Defendants/Respondents are hereby restrained in the interim, from appointing,

selecting, nominating any person to replace Amb. Umar Illiya Damagum as National Chairman or Acting National Chairman of the 1st Defendant/ Respondent pending the hearing and determination of the Motion on Notice already filed which is herein fixed against the 1 4th of May, 2024.

"The Defendants/Respondents by themselves, agents, privies or by any proxy, are hereby in the interim, restrained from according recognition to any person other than Amb. Umar Illiya Damagum as Acting National Chairman of the 1st Defendants/ Respondents or giving effect to or acting upon

any other order.”

The interim order further stated that, "Thirty (30) days after service of this summons on them, inclusive of the day of such service, cause an appearance to be entered for them to this summons which is issued upon the application of the plaintiffs, through their Solicitor, Dr. J.Y.Musa, SAN of Dr. J. Y. Musa, SAN & Co, No. 4, Kano Street, Behind Dr. J.Y. Musa, SAN & Co.” The order of the court was served on the National Legal Adviser, Kamarudeen Ajibade (SAN).

The court adjourned to May 14 2024.

Chuks okocha in Abuja

James emejo in Abuja

JuSticE DongbAn-MEnSEM viSitS AbioDun...

L-R: Presiding Justice, Court of Appeal, Yola Division, Hon. Justice Ita George Mbaba; President, Court of Appeal of Nigeria, Hon. Justice Monica Dongban Mensem; Ogun State Governor, Prince Dapo Abiodun; Chief Judge of Ogun State, Hon. Justice Mosunmola Dipeolu; Presiding

Abiodun in his office at Oke-Mosan, Abeokuta... .yesterday

Bloomberg: MTN, BUA, Cadbury, Others Settling Overseas Debts on Improved Dollar Supply

Emmanuel Addeh in Abuja Companies operating in Nigeria are paying overdue dollar obligations after the recent Central Bank of Nigeria (CBN) reforms led to increased liquidity in the West African nation’s foreign exchange market, Bloomberg reported yesterday.

MTN Nigeria Communications Plc, BUA Foods Plc and Cadbury Schweppes Overseas Ltd.’s Nigeria unit, some of the biggest firms in Africa’s most populous nation, have reported that they are now able to access dollars to meet their foreign currency obligations.

The development marked a reversal of a situation where the scarcity of greenbacks left them unable to repatriate profits or pay foreign suppliers.

THISDAY recalls that in March alone the CBN said the economy recorded over $1.5 billion in foreign exchange inflow, indicating its monetary policy initiatives were becoming effective.

The bank’s acting Director,

Corporate Communications Department, Hakama Ali, was reported to have said that the naira was headed towards the right direction, and the administration of Yemi Cardoso, CBN governor, remained committed to ensuring the stability of the market and the appropriate pricing of the naira against other major currencies worldwide.

At the time, Cardoso said the major objective of the CBN was to manage inflation, but said the bank was not unmindful of the impact that the interest rate increases were having.

MTN Nigeria, the nation’s biggest mobile operator, “utilised the improved liquidity in the foreign exchange market” to reduce letters of credit obligations by 41.6 per cent to $243.4 million from $416.6 million in December, in a bid to curb losses, Chief Financial Officer Modupe Kadiri, said at investor conference, quoted by Bloomberg.

The CBN has since the beginning of this year introduced measures to improve liquidity, including

Berlin 2024 Expo: Nigeria, Germany to Explore Investment Opportunities

Kuni tyessi in Abuja

The Nigerian German Investment and Cultural Expo (NGICE) 2024 is set to open doors to a world of opportunities as Nigeria presents itself as an 'Investors Paradise' in Berlin, Germany.

The event, scheduled from August 20th to 25th at the Helmchen Event Location, is themed "Unlocking Nigeria’s Investment Potentials for Industrial Revolution," with a sub-theme focusing on "Cultural Exports: Key Opportunities for Foreign Direct Investment."

Organized by the Salute Nigeria Initiative, in collaboration with the Office of the Secretary to the Government of the Federation and various federal ministries, NGICE aims to attract foreign direct investment and business partnerships, particularly from the Federal Republic of Germany.

According to a statement issued by the Chairman - planning committee, Mike Okiro, the expo will feature a rich array of activities including presentations, exhibitions, panel discussions, and roundtable sessions on public-private partner-

ships, banking, and finance.

Additionally, he said, there will be cultural displays, a Gala Night-Global Peace Concert & Awards, and strategic visits to companies and organizations.

He added that special daily sessions are planned for State Governments in Nigeria to present and showcase their investment opportunities. The expo will also delve into policy imperatives, legislation for improved foreign direct investment, security management, and German-Nigerian economic cooperation and development.

According to him, the Secretary to the Government of the Federation revealed that the expo is anticipated to bolster bilateral and economic relations between Nigeria and Germany, aligning with Nigeria's Renewed Hope Agenda to diversify and rebuild the economy.

The event is also expected to enhance Nigeria's image globally and attract investments in various sectors including power, renewable energy, mining, marine and blue economy, ICT, automotive, and the creative industry.

raising its benchmark rate 600 basis points to attract capital inflows and dumping the currency’s peg to allow the market to determine the naira’s exchange rate.

This was after years of unorthodox currency management deterred investors and caused a scarcity of the greenback.

“Portfolio flows have responded positively to reforms with increased FX turnover,” Tatonga Rusike, subSaharan Africa economist at Bank of America Corporation, said in an investment note. “The average daily FX turnover has more than doubled from 2023 lows,” Rusike added.

Dollar liquidity jumped 90 per

cent to $160.8 million on Tuesday from a day earlier, Chapel Hill Denham said in emailed note yesterday. The central bank is also selling dollars to money traders to boost distribution to retail users. Still, the naira weakened 1.2 per cent to 1,416 to the dollar Tuesday.

BUA Foods, the country’s biggest food and beverage company, took advantage of the improved dollar liquidity to prune debts by about 6 per cent in the first quarter of this year, Managing Director Ayodele Abioye said.

“Dollar availability will no doubt have positive impact going forward and we are optimistic of

better performance for half-year 2024,” he added.

Similarly, Cadbury Nigeria has been able to access all its dollar needs from the official market since the beginning of the year, Finance Director, Ogaga Ologe told Bloomberg by phone.

“Our local-currency cash has dropped because of us being able to buy foreign exchange in advance for the materials we need,” he said.

“The increased dollar liquidity is providing a respite for companies to pay down debts and cushion the effect of the devaluation,” Adetilewa Adebajo, economist and chief executive at Lagos-based CFG

Advisory, said by phone.

While liquidity has improved, it has to be sustained for the next year to support the turnaround companies desire, according to Adebajo.

“Authorities need to make sure real rates are positive, that the interest rate is matching inflation and fiscal responsibility in terms of government spending is in check,” he stressed.

Last year, after taking over the reins of power, President Bola Tinubu, moved to collapse the multiple FX rate, effectively devaluing the Naira and embarking on a free-floating local currency.

Gateway International Airport to Host Facilities for

Aircraft Maintenance, Flight Training School

James Sowole in Abeokuta

An aircraft maintenance repair facility and a flight training school for young pilots and auto engineers are set to commence operation at the Gateway International Agro Cargo and Passenger Airport soon.

When fully operational, the facility would ensure that aircraft would no longer travel outside Nigeria for routine maintenance, which will now be done at the Gateway International Airport.

The President, Air First Maintenance and Repair Facility, Gbolahan Abatan, made this known in an interview with newsmen shortly

277,862

The Director-General of Plateau State Contributory Healthcare Management Agency (PLASCHEMA), Dr. Agabus Manesseh, has disclosed that significant progress has been made in healthcare accessibility, with over 277,862 beneficiaries enrolled in the social health insurance scheme in the state since its establishment in 2019.

Speaking at a media interface Manesseh emphasized the agency's aim to achieve universal health coverage by 2030 through a comprehensive five-year strategic plan.

According to him, “Our primary goal is to ensure that

after meeting with the Ogun State Governor, Prince Dapo Abiodun, in his office.

Abatan noted that the company was looking forward to working with the state government in the development of the Aircraft Maintenance Facility at the Agro Cargo Airport.

According to him, the company plans to start aircraft assembling at the facility, adding that the company, when fully operational, would create jobs for the locals and indigenes from other states.

He commended Abiodun for building a world-class airport in the state.

According to him, "We had a great discussion, and the encouraging thing is that the governor has given us the assurance that he will give us all the necessary support to get things going.

"So, hopefully, with our certification process in place, we should be able to move in by the end of June to commence our activities at the airport.

"We also want to establish our flight training school for young pilots and auto engineers to be trained as well and we already have some airplanes in mind to use and we will eventually be able to assemble the airplane when we

bring them in parts there to be able to create jobs for the local indigenes and indigenes from other states."

In his remarks, Commissioner for Transportation, Mr. Gbenga Dairo, noted that facilities at the airport are first class with the longest runway in the country, adding that the technology being deployed at the airport for aircraft and airport management is the best.

While noting that Air First has a track record of excellence in aircraft maintenance, Dairo added that the state is delighted with the citing of the foremost aircraft maintenance company at the airport.

every individual in Plateau State, regardless of socio-economic status, can access quality and affordable healthcare services", adding that the significant number of enrolees reflects the agency's commitment to advancing universal health coverage in the state.

“Of the total beneficiaries, 124,000 originate from the formal sector, which encompasses employees and their dependents. Additionally, 8,342 beneficiaries are enlisted from the informal sector, and we have extended coverage to 145,000 through the Basic Healthcare Provision Fund", he noted.

He also outlined the strategic expansion of healthcare infrastruc-

ture to accommodate the growing number of beneficiaries, accrediting a network of healthcare facilities including pharmacies, laboratories, primary healthcare centres, and secondary facilities. Manesseh acknowledged challenges such as delays in payment remittances, lack of operational vehicles, and the need for legislative reviews to enhance premium contributions.

Amidst challenges, he however emphasized significant accomplishments, including clearing payment backlogs and securing government support. He cited the approval of counterpart funds amounting to N327 million by Governor Caleb

Mutfwang to enhance healthcare access for the poor and vulnerable.

In discussing the role of the media in promoting sustainability and development, Manesseh emphasized its importance in promoting transparency, accountability, and inclusivity in healthcare delivery.

He encouraged media partners to provide constructive feedback and emphasized the media's potential to shape public perception and policy discourse. The Director General expressed the agency's commitment to working with the media as a crucial stakeholder in advancing universal health coverage.

Seriki Adinoyi in Jos

Justice, Court of Appeal, Ibadan Division, Hon. Justice Yargata Nimpar, when Justice Dongban-Mensem visited Governor

NNPC Recommits to Building 'Huge' Oil, Gas Infrastructure In-country

Ekpo says public, private sector collaboration needed to meet energy goals

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Ltd (NNPC) yesterday said it will continue to invest in the development of huge oil and gas infrastructure to make it easy for operators and prospective investors to carry out their business in Nigeria.

The Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, disclosed this at the ongoing Offshore Technology Conference (OTC), in Houston, Texas, United States of America, a statement by the Chief Corporate Communications Officer of the company, Olufemi Soneye, said.

Speaking at one of the panel sessions of a luncheon organized by the Petroleum Technology Association of Nigeria (PETAN), with the theme: Sustainable Energy Solutions for Africa’s Future (Nigerian Perspec-

speaker of the House of Assembly, Hon. Martin Amaewhule, whose leadership was recently charged by the All Progressives Congress (APC) in the state to impeach the governor.

In Amaewhule’s place, the Assembly elected Hon. Victor Oko-Jumbo as the new speaker.

The fresh threat against Fubara had come after he said recently that the lawmakers, who had constituted themselves as opposition in the state, did not exist in the face of the law, following a recent court order that nullified their seats after they defected to from Peoples Democratic Party (PDP) to APC.

The development prompted APC in the state, led by Tony Okocha, to direct the Assembly to impeach Fubara.

The situation had since escalated in the state, with different interests rising in support of the governor.

The unsavoury state of play, THISDAY gathered, prompted the decision to elect Oko-Jumbo at the Assembly sitting held yesterday in Port Harcourt.

Subsequently, the new Assembly leadership declared all actions taken by members of the faction led by Amaewhule as void and a nullity in the eyes of the law.

It further called on Fubara to stop dealing with those it called former lawmakers, who had lost their seats following their defection.

At the same time, PDP, yesterday, slammed APC over its directive to the 27 lawmakers in the Rivers State House of Assembly to impeach Fubara, saying the party should perish the idea.

PDP reminded the lawmakers that, just as the governor had said, they did not exist in the sight of the law. It called on the Inspector General of Police, Kayode Egbetokun, to be aware of those he described as subversive elements threatening democracy in Nigeria.

But some elder statesmen in Rivers State, yesterday, called on the lawmakers to drop the impeachment plan and wait for the outcome of the judgement of the Court of Appeal.

Addressing the Assembly, the new speaker said his emergence was in pursuant to the resignation of Hon. Edison Ogerenya Ehie and in line with Section 92(1) of the 1999 Constitution (as amended).

Oko-Jumbo and PDP thanked his new Assembly, with just five members, for the confidence reposed in him, and assured them that he would continue to work with them to move the state forward.

He stated that after the Assembly last sat on December 13, 2023 and adjourned sine dine, there had been an avalanche of legislative rascality perpetrated by the 25 “former” members of the 10th Rivers State House of Assembly, led by the former speaker, Amaewhule.

Oko-Jumbo emphasised that the former members were aware of the provisions of Section 109(1)(g)

tive)”, Eyesan stated that NNPC’s objective was to ensure that there was a healthy balance of energy sources in the country.

She explained that though the oil and gas sector was not where it ought to be, much progress had been made between last year’s edition of the OTC in terms of opening up the sector for investments and infrastructural development.

She identified funding as the major challenge impeding the development of the sector, listing some of the bright spots in the industry to include the Executive Orders signed by the President to open up the sector.

Eyesan also highlighted the imminent resolution of the assets divestment by the International Oil Companies (IOCs) and the aggressive execution of gas infrastructure projects such as the

of the Constitution of the Federal Republic of Nigeria 1999. He said following their defection from PDP to APC on December 11, 2023, Ehie, who then became the speaker on December 13, 2023, wrote to the Independent National Electoral Commission (INEC), declaring the seats of the 25 lawmakers vacant in line with Section 109(1) (g) and (2) of the Constitution of the Federal Republic of Nigeria, 1999. He stressed that there were numerous pending cases in the courts over the defection of the former lawmakers.

Oko-Jumbo stated, "All laws, plenary sessions, and actions taken by the illegal house are hereby declared void and a nullity in the eyes of the law by virtue of the judgement of Lord Denning in the celebrated case of MacFoy v UAC (1961) 3 All ER 1169, which held that ‘you cannot put something on nothing and expect it to stand’.

"If an act is void, then it is in law a nullity. It is not only bad, but incurably bad. There is no need for an order of court to set it aside. It is automatically null and void without more ado, though it is sometimes more convenient to have the court declare it to be so. And every proceeding, which is founded on it, is also bad and incurably bad. You cannot put something on nothing and expect it to stay there. It will collapse."

The new speaker directed the executive arm, the judiciary, and the public to disregard every law purportedly enacted by the illegal Assembly, as they all amounted to nothing but an exercise in futility.

He stated, "Furthermore, this house would want to most respectfully urge and call on

staff for their steadfast support throughout my tenure. I earnestly request that you extend the same level of support to my successor. It has been a remarkable journey, and I am immensely proud of what we have accomplished together. As I commence the mandatory regulatory cooling-off period, I am filled with optimism for Zenith Bank's future, assured that we are on the path to even greater success.”

Speaking on the dividend payout, Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, expressed her delight in the exceptional performance of the bank, as evidenced by the numerous awards received during the 2023 financial year. She remarked, “We shareholders are very pleased today to receive a final dividend of N3.50 kobo from Zenith Bank. Following an interim dividend of 50 kobo paid last December, the total dividend for the 2023 Annual General Meeting amounts to N4.00— the highest in the banking sector to date. We truly appreciate this and are optimistic that the transition

Obiafu-Obrikom-Oben (OB3) Gas Pipeline, which she said would be completed in the next quarter.

Also speaking at the panel session, the Managing Director of SNEPCo, Elohor Aiboni, and the Managing Director of Chevron Nigeria Ltd, Mr. Jim Swartz, stated that their companies’ divestment from onshore and shallow water assets was a general realignment of their portfolios across the globe and should not be misconstrued as exit from the Nigeria.

Speaking further on his company’s commitment to remain in Nigeria, Swartz said: “We are excited about what government is doing to build confidence in investors. We are excited to work with NNPC Ltd.”

Meanwhile, the minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has called for increased collaboration between

His Excellency, the governor of Rivers State, Sir Siminilayi Fubara, to stop dealing with the 25 former lawmakers, in whatever guise.

"Those members are merely floating and do not have any landing ground or anywhere to berth their ship since their defection to the All Progressive Congress on the 11th of December, 2023.

“This house is the legally and constitutionally recognised house by virtue of the defection, and is ready to receive correspondences from and work with His Excellency."

Oko-Jumbo assured Fubara of the house’s “unalloyed and unwavering” support to work with him in moving Rivers State forward and in promoting the progress and welfare of the state.

Speaking with newsmen after the sitting, which held at 10am, Oko-Jumbo called on all Rivers people to support the government of Fubara, as the house was ready to give its best for the service of the state

Chairman of the Business Committee of the Assembly, Hon. Sokari Goodboy, assured the Assembly of their commitment to the advancement of the state, adding that they are ready to support the new speaker.

Goodboy urged Fubara not to have anything to do with the former members of the Assembly in order not to attract the wrath of the new Assembly.

Curiously, the Assembly Sergeant-at-Arms, Mr. David Wariboko, who the Amaewhule-led factional Assembly had suspended, was seen performing his duties with the new Assembly leadership under Oko-Jumbo.

to a Holding Company will bring even greater returns. Zenith Bank’s numerous accolades this year clearly position it as the leading bank in the country. We anticipate that the 2024 AGM, marking the first year as a Holding Company, will be even more promising for Zenith.”

At the AGM, Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), expressed his gratitude to the Chairman for facilitating a seamless succession plan. He stated, “The bank has performed exceptionally well, particularly in terms of succession planning. It’s encouraging to see the new Managing Director promoted from within, reinforcing our belief in the bank’s leadership development. This internal promotion strategy motivates our staff, giving them confidence that they can aspire to the highest levels within the bank.”

Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, praised the Chairman and Management of Zenith Bank for their consistent delivery of value to shareholders. He

public and private sector investors in order for the country to achieve its energy goals.

The minister stated this during the official unveiling of the Gazettes on National Energy Policy and National Energy Master Plan by the Energy Commission of Nigeria at the PTDF auditorium, Abuja yesterday.

Ekpo said the task of creating a Nigeria where citizens have access to cheap, unlimited energy is one that must not be left solely for the government.

Ekpo said: "In order to achieve our energy goals, I implore our respected partners in the public and private sectors to collaborate with one another. To face the difficulties that lie ahead, let's leverage the power of cooperation, creativity, and technology."

The minister described the road to a sustainable energy future as a

Perish the Thought, PDP Blasts APC over Impeachment Threat against Fubara

Peoples Democratic Party (PDP), yesterday, slammed All Progressives Congress (APC) over its directive to the 27 lawmakers in the Rivers State House of Assembly to impeach Governor Siminalayi Fubara, saying the party should perish the idea.

PDP reminded the lawmakers that they did not exist in law.

The party called on the Inspector General of Police, Kayode Egbetokun, to be aware of those he described as subversive elements threatening democracy in Nigeria.

Addressing a press conference, National Publicity Secretary of PDP, Debo Ologunagba, stated, "The attention of the leadership of the Peoples Democratic Party (PDP) has been drawn to a delusional declaration by the chairman of the All Progressives Congress (APC) in Rivers State, Mr. Tony Okocha, wherein he issued a hallucinatory directive that an impeachment proceeding be commenced against the democratically elected governor of Rivers State, Siminalayi Fubara.

"Such reckless and unwarranted statement by the APC chairman in Rivers State exposes the vile desperation of the APC, which is roundly rejected in Rivers State, to use violence, coercion and bullying to undermine the will of the people and forcefully take over the state.

"The fact that the Rivers State APC chairman, in his warped imagination, thinks he can direct impeachment proceeding against a duly elected state governor, not only shows the level of APC’s arrogance and condescension for

noted, “The bank’s rapid growth can be attributed to the diligent oversight by our Founder, who is also a core investor and actively monitors all operations. This growth is further supported by our adherence to strict corporate governance principles. The bank’s performance metrics are clearly delineated and managed by dedicated committees, ensuring accountability and responsiveness. As a stakeholder, I am very pleased with their performance and attentive response to any concerns raised.”

In spite of challenging macroeconomic conditions coupled with economic headwinds, Zenith Bank Group achieved a remarkable triple-digit growth of 125% in gross earnings, from NGN945.6 billion in the previous year to NGN2.132 trillion in 2023. This was driven by a 112% YoY growth in interest income and a 141% YoY growth in non-interest income. Customer deposits grew by 69%, reflecting the bank's market leadership and customers' trust. Operating expenses grew by 32% YoY. Total assets rose by 66%, largely due to growth in total deposits and the revaluation

marathon and not a sprint, saying it calls for unyielding resolve, innovative leadership, and unwavering dedication.

According to him, energy plays a critical role in promoting social development, accelerating economic progress, and protecting the environment.

"Future generations will be greatly impacted by the choices that we make today. We can create a Nigeria where everyone has access to cheap, unlimited energy by working together," he added.

Special Adviser to the President on Energy, Ms. Olu Verheijen who unveiled the Gazettes said the documents would be presented to the public for further consultation.

The Gazettes reveal the direction of government's policies, and also list the several approaches necessary to accomplish the country's energy

the people of Rivers State, but also further confirms APC’s desperation to forcefully annex their democratic rights under the Constitution."

Ologunagba further stated, "In any event, the individuals that the Rivers State APC chairman directed to commence impeachment proceedings against Governor Fubara are not legally members of the Rivers State House of Assembly and cannot contemplate or exercise such powers under the law.

"The unlawful directive by the Rivers State APC chairman to these individuals to commence an impeachment proceeding against the governor is, therefore, a brazen call for anarchy, as it amounts to an attempt to forcefully overthrow a democratic order in clear violation of Section 1 sub-section 2 of the 1999 Constitution (as amended).”

PDP drew the attention of the Inspector General of Police to the subversive utterances of the APC chairman in Rivers State, which it said was capable of triggering crisis and derailing the democratic order in the country.

Rivers Elders Advise Assembly Members to Wait for Court Judgement

Elder statesmen in Rivers State, yesterday, called on the state lawmakers to drop the impeachment plan against the governor and wait for the judgement of the Court of Appeal.

The views of the elders were made public yesterday on the Morning Show of ARISE NEWS Channel.

One of the elders, and National Coordinator, South-south Leadership Forum, Anabs Sara-Igbe, said he led nine others to institute a court

of foreign currency deposits

In 2024, Zenith Bank Group plans to expand its reach following its restructuring into a holding company structure, adding new verticals to its businesses and pursuing growth in all chosen markets, locally and internationally.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as Best Bank in Nigeria, for the fourth time in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards; the Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023, being listed in the World Finance Top 100 Global Companies in 2023; being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 14th consecutive year, in the 2023 Top 1000 World Banks Ranking published by The Banker Magazine; Best Commercial Bank, Nigeria, for three consecutive years from 2021 to 2023, in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance

case against the 27 lawmakers at an appeal court, and that the matter had been reserved for judgement.

Sara-Igbe called on the 27 lawmakers to wait for the outcome of the court case before ever thinking of carrying out an impeachment process against Fubara.

According to him, the seats of the 27 lawmakers have been declared vacant after they crossed from PDP to APC and, therefore, they have no powers to impeach the sitting governor because they are no longer lawmakers in the state.

He said in line with the country’s constitution, “The defected lawmakers are no longer members of the Rivers State House of Assembly. It is for this reason that I led nine other elder statesmen in Rivers State to institute a court case against the 27 lawmakers in an appeal court.

“We are saying that the document, which contains the eight point directives of President Bola Ahmed Tinubu, which seeks to address the political crisis in Rivers State, and which Governor Fubara earlier signed, is illegal and will not stand.

“The 27 lawmakers are no longer members of the Rivers State House of Assembly. When a case is in court, the parties involved must respect the law and wait for the outcome of the court judgement. I expect the 27 lawmakers to understand this and obey the rule of law.

“They cannot be seen as breaking the law, when they are the ones making the law. They enacted laws to favour former Governor Nyesom Wike, and now they want to break the same law because it is no longer in their favour. The people of Rivers State are not happy about the development and we are in court to seek redress.”

Corporate Governance Awards 2022 and 2023; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best in Corporate Governance’ Financial Services’ Africa, for four successive years from 2020 to 2023, by the Ethical Boardroom; Most Sustainable Bank, Nigeria in the International Banker 2023 Banking Awards; Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021; Bank of the Year 2023 and Retail Bank of the Year for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS.

goals.

Present at the event were the Minister of Innovation, Science and Technology, Chief Uche Nnaji; Minister of Defence, Badaru Abubakar; Minister of Budget and Economic Planning, Atiku Bagudu; Director General/CEO of Energy Commission of Nigeria, Dr. Mustapha Abdullahi, among others. Mrs. Eyesan

Seeking Senate Support for Mining exploration funding...

Minister of Solid Minerals Development, Dr. Dele Alake (Right) and Senate President, Godswill Akpabio during an Investigative hearing on "The need to comprehensively review the input and output values of the Nigeria Mining Industry in the light of its central role to economic diversification, foreign exchange earnings and social inclusion" organised by the Senate committee on Solid Minerals Development, at the National Assembly complex in Abuja, Tuesday

Lagos Gets N3.9bn Derivation as New Oil-producing State

Woos foreign investors at US-Africa summit

Segun James

As one of the latest oil-producing states in the country, the Lagos state government yesterday disclosed that it had so far realised the sum of N3.911 billion as derivation, but lamented that production had been hampered by challenges faced by the company managing its exploration and exploitation activities.

The state’s Commissioner for Energy and Mineral Resources,

Mr Biodun Ogunleye, disclosed this during a ministerial press briefing to mark the first year of the second term in office of Governor Babajide Sanwo-Olu at Alausa, Ikeja. He said that Lagos which joined the league of oil-producing states in the country in 2016, received the amount as its share of the 13 per cent derivation fund.

Oil-producing states, including Abia, Akwa Ibom, Bayelsa, Delta, Edo, Imo, Ondo and Rivers, are

entitled to 13 per cent derivation fund from the Federation Account.

Ogunleye said: "Between 20182019, the state government received from the federal government N131 million as part of oil derivation. And, between 2020-2021, the Lagos state government received N3.78 billion.

"But the owners of the assets have been having issues among themselves. And as long as they could not produce, there would be no money for Lagos.

Impending Flood: FG Begins Clearing Water Channels, Dams

The federal government has began clearing water channels and dams of debris as part of its efforts in curtailing the 2024 impending floods as predicted in some states.

Speaking at the national emergency coordination forum meeting in Abuja, the director-general of the National Emergency Management Agency (NEMA), Zubaida Umar, said the interventionist agency will continue to intensify efforts to take proactive measures to reduce the impact of the predicted flooding to the minimal in the event of the occurrence of flood or other disasters.

Her words: “As you may be aware, the Nigeria Meteorological Agency (NiMet) and Nigerian Hydrological Services Agency (NIHSA) have both released the Seasonal! Climate Prediction (SCP) and Annual Flood Outlook (AFO) respectively for 2024.

“The prediction informed that in April, May and June period, 25 states and 72 local government areas (LGAs) are within flood high-risk areas, indicating heightened vulnerability to flooding. This vulnerability is said to persist into subsequent months of July to September with 33 states and 135 LGAs identified as high-risk areas, while the period between October and November has 19 states and 44 LGAs.

“As is always the case, after the releases, the National Emergency Management Agency convened a two-day Experts’ Technical Meeting of relevant stakeholders from Ministries, Departments and

Agencies (MDAs) and the academia on April 17 and 18, 2024 to analyze the disaster management implication of the SCP and AFO predictions.

“The deliberation by the experts brought about the development of 2024 climate-related disaster preparedness and mitigation strategy as it affects agriculture and food security, water resources, transportation, health, telecommunication and power generation and distribution.

“Based on the predictions, various recommendations have been made as preparedness and mitigative actions to be taken by relevant stakeholders to reduce possible impacts. This also serves as early warning message to the general public.

“Some of the recommendations include but not limited to community sensitization and awareness campaign to ensure early desilting

and clearing of debris in water bodies to prevent blockages; monitoring of dam discharge and regulations, as well as creating detention dams, and the need for sub-national entities to mobilize flood prone communities to clear water ways and channels and relocate from flood plains.”

In his goodwill message, the director-general of NIHSA, Engr. Clement Nze, urged the stakeholders to heed the message from NEMA and take seriously the flood predictions generated in the AFO and support efforts towards averting flooding and loss of lives this year.

Also, the director-general, Federal Radio Corporation of Nigeria (FRCN), Dr. Mohammed Babgana Bulama, who was also at the meeting, assured the support of his agency to further the awareness on the dangers of flooding in the country.

"The state government is engaging them to ensure that they return to the field. And we hope that before the end of the year, they will find new technical partners and they can go back to production."

Dwelling on the community electrification programme, the commissioner said the governor had approved the procurement of 20,000 units of prepaid energy meters to target low income communities in the state.

‘’Approval was further expanded to utilise funding to catalyse full metering across the state via collaborations with electricity Distribution Companies (Discos) in Lagos and a leading smart metering solution company, ElSewedy Electric,” he added.

The commissioner, who frowned on the increasing death rate from gas explosions in the state, hinted that the state government will soon introduce stringent measures to regulate the operation of Liquefied Natural Gas (LNG) vendors in the state.

Recall that Yinka Folawiyo Petroleum Company Limited (YFP), a wholly-owned indigenous firm and operator of the OML 113 offshore Lagos, commenced the production of crude oil from the field in 2016.

Meanwhile, the Lagos State government has assured the international business community that as one of the largest economies on the continent, Lagos remains the best choice to do business in Africa.

As part of this move and to increase its economic growth and consolidate its position as Africa's economic hub, the state government called on foreign investors, particularly those interested in investing in Nigeria, to consider

Lagos as the best destination for their investments.

The government committed international investors yesterday during the panel session on “Af- rican Infrastructure Investment: Impacts and Returns,” through the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, and her Innovation, Science, and Technology counterpart, Mr. Tunbosun Alake, at the ongoing 2024 US-Africa Business Summit in Dallas, Texas, United States.

Besides, the state also expressed readiness to partner with any investors with a strong assurance that the government will provide a conducive and friendly business environment for predictable returns on their investments.

Addressing delegates during the panel session that focused on infrastructure as an investable asset globally and how African countries can benefit from over $30 billion fund being set aside by the United States and some partner nations through identified financial instruments, Ambrose-Medebem and Alake expressed Lagos' readiness for business and its openness for new investments by showcasing the potential of the State.

The summit, hosted by Corporate Council Africa brings together political and business leaders from across Africa, the United States, and other regions for high-level dialogue and networking in Dallas Texas, United States of America.

Ambrose-Medebem assured the business community that Sanwo-Olu’s administration in Lagos State had created an enabling environment for investments and businesses to grow

in the state in the past five years. She said Lagos has a huge population of over 25 million people, stressing that more than 60 per cent of the population is youth. She added that Sanwo-Olu and his administration had invested in critical infrastructure projects such as rail, water, health, and housing.

"There is Blue Line rail in Lagos State that takes approximately 500,000 people per day. There is another Red rail line that was just commissioned and will start commercial operations very soon. The new Red Line rail service will move close to 1 million Lagosians daily when it commences operation.

“The Lagos State Government has provided a lot of infrastructure for businesses to thrive in the State. We have done a lot in the areas of health, education, technology, and many other sectors.

“For agriculture, over 200 hectares of land has been allocated to build the largest food hub infrastructure in the eastern part of the State. In addition, we also have the Lekki Deep Sea Port, which is about a $1.53 million investment. Lagos is open for business and investments," she added.

Also speaking, Alake said: "Over the past three and a half years, about $3 billion worth of investment has come into Lagos with high numbers of start-ups and scale-ups in the continent. So, Lagos has a sheer number of start-ups, the largest start-up network in the continent.

"Investments that have come to Lagos over the past three years have created networks of unicorns and high scale up to the combined value of $5 billion and this has created thousands of jobs for young people.

NBTE Initiates Overhaul of Entrepreneurship Education in Nigerian Polytechnics

The National Board for Technical Education (NBTE) has launched an initiative aimed to overhaul entrepreneurship education in Nigerian polytechnics and similar technical and vocational education and training (TVET) institutions.

The Executive Secretary NBTE, Prof. Idris Bugaje, made this statement at the National Workshop for Entrepreneurship Education in Nigeria Polytechnics and Similar TVET Institutions (PHASE II).

With the theme of event, “Mastering Entrepreneurial Skills Development Modules,” Bugaje emphasized that amidst the backdrop of Nigeria's persistent unemployment challenges there is a need to pivot towards a culture of innovation and self-reliance among Nigerian graduates.

According to him, "NBTE has undertaken a comprehensive review of the curriculum, with a renewed focus on integrating entrepreneurship into various disciplines.

“In entrepreneurship, we learn about running a business, and

acquiring the skills or momentum needed to become engaged as an employer and start up a trade after graduation.”

He however addressed the challenges that may occur in the future, acknowledging the need for concerted efforts to overcome institutional barriers and cultural norms that may hinder the adoption of entrepreneurship education in some regions.

He added, "We must differentiate between the internship program and skills development and the

complementary nature of these initiatives in preparing graduates for the realities of the workforce.”

The Executive Secretary TETFund, Arc. Sunny Echono, on his part noted that the vision aims to equip Nigeria's youth with the skills necessary to thrive in a rapidly evolving job market, emphasizing the importance of entrepreneurship and other skills like Artificial Intelligence, AI.

He added that the initiative marks a significant departure from traditional education models,

signaling a shift towards a more innovative and globally competitive workforce.

He said: “The key highlights of the plan include the implementation of a student loan scheme and a comprehensive review of curricula to incorporate entrepreneurship education. By fostering an entrepreneurial mindset from an early age and providing support for enterprise development, the government aims to unleash the potential of the nation's youth to drive economic growth and innovation.”

folalumi alaran in Abuja

kuni tyessi in Abuja

PAnEl sEssIOn On AfrIcAn InfrAstructurE InvEstmEnt...

L-R: Executive Assistant to Governor of Lagos State/Head, State Office of Diaspora Affairs, Mr. Jermaine Sanwo-Olu; Permanent Secretary, Ministry of Commerce, Cooperatives, Trade and Investment, Lagos State, Dr. Oluwagbemiga Aina; Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), Dr. Abike Dabiri-Erewa; CEO of Africa 50, Mr. Alain Ebobisse; Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem; Ex-Minister of Industry, Trade & Investment, Otunba Richard Adebayo; Commissioner for Innovation, Science & Technology, Lagos State, Mr. Tunbosun Alake and Special Adviser to Governor Sanwo-Olu on Media & Publicity, Mr. Gboyega Akosile during a panel session on African Infrastructure Investment: Impacts and Returns, presented by the Corporate Council on Africa at the ongoing US-Africa Business Summit in Dallas, Texas, United States, on Tuesday

FG Rubbishes Binance, Denounces $150m

Bribery Allegation, Says It’s Blackmail

House probes escape of firm’s executive from NSA’s custody Warns terrorists, bandits may shut down schools if attacks persist

Ajimotokan and Adedayo Akinwale in Abuja

The federal government has condemned the $150 million bribery claim alleged by the Binance Chief Executive Officer, Richard Teng, in cryptocurrency payments against unidentified Nigerian government officials to resolve the ongoing criminal investigation against the company.

The rebuttal was contained in a statement issued yesterday by the Special Assistant to the Minister of Information and National Orientation, Rabiu Ibrahim, after Teng made the bribery allegation against Nigerian officials in a blog post that was published by New York Times on Tuesday.

Also, the House of Representatives has launched an investigation into the sudden disappearance and escape of Binance Executive, Nadeem Anjarwalla, from the custody of the National Security Adviser (NSA).

At the same time, the House has called for police/security presence in schools across the nation, to address the worsening security situation in the country, warning that the activities of terrorists and bandits might shut down schools if attacks persisted.

However, in the statement by the federal government, it described the allegation by Binance as an attempted blackmail that was bereft of substance.

It further berated platform of “diversionary tactics” and attempting to launder its tarnished image as an organisation reputed

for not playing by the rules and laws guiding business conduct in sovereign nations.

“In a blog post that has now been published by many international media organisations, in an apparent well-coordinated public relations effort, Binance Chief Executive Officer, Richard Teng, made false allegations of bribery against unidentified Nigerian government officials whom he claimed demanded $150m in cryptocurrency payments to resolve the ongoing criminal investigation against the company.

“This claim by Binance CEO lacks any iota of substance. It is nothing but a diversionary tactic and an attempted act of blackmail by a company desperate to obfuscate the grievous criminal charges it is facing in Nigeria,” the federal government said.

It reminded Binance of the fact that it was being investigated in Nigeria for allowing its platform to be used for money laundering, terrorism financing, and foreign exchange manipulation through illegal trading.

The statement stated further that:

“While this lawful investigation was going on, an executive of Binance, who was in court-sanctioned protective custody, escaped from Nigeria, and he is now a fugitive from the law. Working with the security agencies in Nigeria, Interpol is currently executing an international arrest warrant on the said fugitive.”

It accused Binance saying the phantom bribe claim was part of an orchestrated international

campaign by the company currently charged with criminal prosecution in many countries, including the United States, to undermine the Nigerian government.

The statement recalled that just a week ago, the founder and former CEO of Binance, Changpeng Zhao, was sentenced to prison in the United States, after pleading guilty to charges very similar to what Binance was being investigated for in Nigeria.

House Probes Escape of Binance

Executive

The House of Representatives has launched an investigation into the sudden disappearance and escape of Binance Executive, Nadeem Anjarwalla from the custody of the National Security Adviser (NSA).

The resolution of the House was

sequel to the adoption of a motion of urgent national importance moved at plenary by Hon. Dominic Okafor.

The lawmaker expressed concern that persons suspected to have committed such atrocious crimes against Nigeria with already over-burdened security challenges were kept in a guest house in Abuja instead of lawful custody of the Department of State Service or any other approved custodial facility.

He decried that the escape of the Binance executive from the office of the NSA using a “Smuggled Passport” was, to say the least, most disappointing, embarrassing and disturbing as it portrays the porosity of the security architecture of the country to the world.

In another development, the House has called for police/security

presence in schools across the nation and to address the worsening security situation in the country.

The House made the call following the adoption of a motion of urgent public importance moved at the plenary on Wednesday by Hon. Billy Osawaru.

The call was not be unconnected to the rate of kidnappings and wanton destruction of lives and property across the schools in the country since 2014.

The House lamented students are no longer safe even in their schools especially in places like Borno, Nasarawa, Niger, Zamfara, Katsina and Kaduna States.

Osawaru recalled that on Thursday, 7th of March 2024, about 287 schoolchildren were kidnapped from a government-owned school

in Kaduna State’s Kuriga town. He said before then, on Friday, 22nd of September 2023, about 24 students of the Federal University of Gusau in Zamfara State were kidnapped by bandits. The lawmaker added that in Nigeria, policemen are not guarding most of the schools despite the level of attacks frequently experienced by the schools and the ones in existence are not sufficient in manpower and equipment, hence the level losses incurred any time such attacks occurred.

Osawaeu warned; “If no drastic measure is taken to curb the escalating insecurity situation in the country and in the schools, the entire schools may end up being shut down due to the activities of these miscreants and hoodlums.”

56 Million Women Risk Infections in Nigeria as KSPHDA Commences HPV Vaccination

Ibrahim Oyewale in Lokoja

A total of 56 million women across Nigeria are at risk of infections from the dreaded Human Papillovirus disease (cervical cancer) which is the second fastest killer after the breast cancer in Africa.

The consultant, Kogi State Primary Healthcare Development Agency, KSPHCDA, Dr. Mary O. Alexander, disclosed this while

Firm Expresses Concerns over Nigeria's High Rate of Unwanted Pregnancies

DKT Nigeria has expressed concerns over the high rate of unwanted pregnancies in the country.

In a statement, DKT added that to checkmate the high level of unwanted pregnancies in the community, it organised an outreach programme to give women the power to take charge of their reproductive health and advance the well-being of their families.

According to reports, the rate of unwanted or unintended pregnancies in Nigeria is substantial, ranging from around 11 per cent to over 25 per cent in some regions, with a high proportion of these pregnancies ending in unsafe abortions due to the country's restrictive abortion laws.

The statement also stated that the outreach was to close the knowledge gap among women of reproductive age in low-income areas, raise awareness on the use of modern contraceptives, especially Intrauterine devices (IUDs).

The Hospital Sales and Clinical Service Team, led by Mrs. Faustina Ekundare, gave a comprehensive health talk to women in Makoko and performed free vital checks on them.

She said residents who were willing to adopt a family planning method were also given free contraceptive services along with appropriate counseling from the knowledgeable DKT team.

Ekundare stated that, “The primary aim of this initiative is not just about preventing unplanned

pregnancies, saying that the main goal of the outreach is to foster a positive culture of informed choices and empower individuals to take charge of their health and future.

"Our outreach embodies the belief that every person deserves the right to plan their family on their terms, ensuring a brighter, healthier tomorrow for all.”

In addition to continuing to inform communities about the advantages of family planning and providing them with a full range of contraceptive services, DKT Nigeria is committed to carrying out more outreach programs and training initiatives in other underserved regions of the country to ensure that every provider is well-equipped with adequate training and family planning products.

speaking at one day media dialogue on Cervical cancer disease held in Lokoja, Wednesday.

Dr. Alexander explained that KSPHDA has begun sensitization on Human Papillomavirus Vaccine HPV to prevent cervical cancer diseases across the state.

She explained that the human Papillomavirus Vaccine provides a long-lasting solution against HPV infection and associated diseases, stressing that the HPV vaccination programme is being carried out by KSPHDA in partnership with international donor agencies to curb the menace of cervical cancer

in the state.

According to her, a total of 56 million women across Nigeria are at risk of cervical cancer, noting that there is an urgent need to nip cervical cancer in the bud and that is why the National Primary Healthcare Development Agency and development partners are working to prevent cervical cancer diseases.

She stated that 16 states had earlier midwifed the HPV vaccination programme in 2023, stating that Kogi State was among the 21 others to commence vaccination.27th May 2024. The consultant said the HPV vaccination would be open to only

young girls between the ages of 9 and 14 years in Kogi State. She pointed out that strategies have been put in place to make this programme a success in the State. According to her, “We targeted Schools, Communities , some designated health facilities , while the traditional institutions and members of various communities were carried along.”

She also stated that the Human Papillomavirus has become a threat to women, adding that it has become a global concern and 600,000 have been infected and 59 percent of them died of the disease.

Chisco Transport Chairman Backs Governor Mbah’s Modern Bus Terminal Projects, Says Transport is Life

The Chairman/CEO of Chisco Transport, Chief Chidi Anyaegbu, has commended the Dr. Peter Mbah’s Administration in Enugu State for its effort to reposition the transport and logistics sector in the state, including the administration’s plans to build modern transport interchanges or bus stations in various parts of the state, stressing that “transport is life.”

Anyaegbu noted that as a political leader who came from the business world, he had an unwavering conviction that the governor would drastically change the fortunes of the state for good.

The business mogul stated this while fielding questions from

Government House correspondents during a visit to Mbah on Wednesday, urging the residents and people of the state to continue to accord the governor their total support.

“I came for a private visit to the Executive Governor of Enugu State.

We had a good discussion and I can say that the Executive Governor has a very good intention of how to develop the state, which I also know because he came from the business sector or business environment. He understands how to add value to what he met,” he said.

Speaking on Governor Mbah’s modern transport interchange plans, Chief Anyaegbu said, “His plans

are very good. Transport is life, I have been in Transport for 46 years. I know what transport is. I understand that transport adds a lot to the economy.

“After listening to the governor, I know he has good plans about this and this is why I am telling you that when you give him time, in very short time, Enugu people will see a lot of improvement under his administration.

“He has a lot of plans on logistics and how to develop Enugu State in the area of logistics and every other area he has plans for. I am convinced that all his plans will come to fruition,” he stated.

Olawale

Gilbert Ekugbe

8th DStv MeDia SaleS conference...

L-R: President, Advertisers Association of Nigeria, (ADVAN), Osamede Uwubanwmen; Head of DStv Media Sales, Africa, Kholeka Maringa; EH, Business Enablement, DStv Media Sales, Africa, Nosipho Gama; Executive Head, DStv Media Sales Nigeria, Doris Ohanugo; and Head of Legal, Advertising Regulatory Council of Nigeria (ARCON), Chukwudi Ezeaba, at the

Independent Practitioners Association of Nigeria (MIPAN) Conference in Lagos ... yesterday

Sule: Govs Won’t Jump Gun on Minimum Wage, We Are Awaiting FG’s Committee

Says Nasarawa safest for agric, investment Meets Shettima

Nasarawa State Governor, Abdullahi Sule, yesterday, explained that governors were not opposed to a new minimum wage for public workers, but would not jump the gun either as they were awaiting the recommendation of the federal government’s tripartite committee.

Speaking to newsmen after meeting with Vice-President Kashim Shettima in his office at the State House, Abuja, he also shared an update on the security situation in his state as well as the inauguration of the lithium factory billed to hold on Friday.

There had been concerns in certain quarters lately over the ability of some states to pay the new minimum wage proposed by the Tripartite Committee. Sule, who said he was unaware of any state that could not pay the old minimum wage rate, stated that Nasarawa had been paying the N30,000 minimum wage since 2019 and had also implemented promotions, gratuities, and other benefits for workers.

While explaining that governors have not disagreed on plans to review workers' pays, he stated that a committee established by the federal government was working on

the minimum wage, and governors were waiting for the outcome.

"We’re concerned about the welfare of the workers. In fact, we're paying some special allowances called hazard allowance, even to our medical workers, as I'm talking to you right now.

“So, I don't think governors have any problem with the payment of minimum wage. I don't speak for the governors. Our chairman, the Governor of Kwara, actually speaks for the governors and he will do that at the right time to you.

"But it is incorrect, actually, to say that governors are not interested or are not cooperating. What the

governors keep saying is that there is a committee established by the federal government to work on the minimum wage.

"We are waiting for the outcome of that committee and that committee is not just looking at federal government, it’s looking at the state government and the organised private sector. So, by the time they provide, we don't want to jump the gun and that's why we continue to do that.

ahead of lithium factory inauguration on Friday that somebody cannot be higher than that, dependent on your own cash flow and dependent on your own position. So, I think that’s the position."

"You may find one or two states make certain statements, which is okay perfectly in line. Minimum is minimum, when they say minimum wage, it doesn't mean

Education System Facing Crisis in Kaduna Because of Insecurity, Says Gov Uba Sani

awofadeji in Gombe and John

in Kaduna

Kaduna State Governor, Senator Uba Sani, has lamented that the educational system in the state was facing crisis as a result of increasing insecurity.

This was as the United Nations Children Fund (UNICEF) has expressed worry over the staggering 10.2 million Primary school-age children and an additional 8.1 million at the Junior Secondary level that were out of school in Nigeria.

Speaking yesterday in Kaduna, at a capacity training programme organised by the Nigeria Police Force Schools Protection Squad, Sani said school enrolment in Kaduna has declined because insecurity.

He said in several local government areas, insecurity has forced school consolidation, further pushing up the number of out-of-school children.

The governor said incidents like the recent kidnapping of 135 students from the LEA Primary and Junior Secondary School, Kuriga, Chikun LGA, tragically illustrated the devastating impact of insecurity on access to education and safety in the state.

According to him, no nation could achieve its human capital development goals and make giant developmental strides if it failed to guarantee the safety and security of schools.

“Kaduna is one of the states that has been waging a sustained battle against banditry, terrorism, kidnapping and other forms of criminality.

“These non-state actors have disrupted socio-economic activities in the affected communities and are threatening our educational revitalisation programme.

“Kaduna State's educational system is facing a crisis of declining enrolment, with over 200,000 fewer primary school pupils recorded in the 2022/2023 academic session compared to the previous year.

“This dramatic drop (from 2,111,969 in 2021/2022 to 1,734,704 in 2022/2023) is largely attributed to insecurity.

“In several local government areas, particularly Chikun, Birnin Gwari, Kajuru, Giwa, and Igabi, insecurity has forced school consolidation, further pushing up the number of out-of-school children.

“To ensure that the education of our children in conflicts-prone and terrorists-infested areas is not interrupted, we have commenced the merging of 359 schools with those in safe locations.

“We are also implementing our Safe School Programme to strengthen the security in our primary and secondary schools. We are collaborating with the Nigeria Police Force which is currently training a Schools Protection Squad (SPS)”

UNICEF Worries over Out-of-School Kids

United Nations Children Fund (UNICEF) has expressed worry over the staggering 10.2 million Primary school-age children and an additional 8.1 million at the Junior Secondary level that were out of school in Nigeria.

The disclosure was made yes-

terday by the Chief of Field Office, Bauchi UNICEF Field Office, Dr Tushar Rane in a Goodwill message at the opening of a two-day Regional Stakeholders Engagement Meeting on the Out-of-School Children and the Retention, Transition and Completion Models in Bauchi, Gombe and Adamawa States at Emerald Hotel Hall, Gombe, Gombe State.

Commenting on the security situation in the state, Sule assured that Nasarawa was safe for investment and agriculture, contrary to concerns about security, citing the example of a lithium factory built by foreign investors, which took several years to complete and has become operational.

Reiterating that Nasarawa was the safest state in the country for agriculture and other activities, he attributed the success to improved security in the area, construction of major roads and the establishment of a military super-camp.

To support his claim, he highlighted the state's achievements in agriculture, to include being number one in sesame farming, number two in yam and cassava production, and number five in rice production nationwide, and therefore encouraged skeptics to verify these facts for themselves.

"Coming back to the issue of security that you have mentioned, it took us a while to be able to stabilise the area. First and foremost, they had a very bad road leading to the areas where some of the bandits, kidnappers and so on were settling down.

"We now constructed a major road in the area and the federal

government also constructed the major road that comes all the way from Benue into Nasarawa State, which most of the transporters from the eastern part of the country are actually using at the moment.

"We also established what you call military super-camp in the area so there is presence of the military in the area. So, all those kidnappers, bandits and others have all left, we don't have any as far as that area is concerned.

"Nasarawa State is always considered as one of the safest states to do agriculture and others things. Now, coming back to the agriculture that you have mentioned, since the past two to three years, Nasarawa State, has been leading in so many areas of agriculture.

"Today, I'm happy to tell you that we are number one in sesame farming in the whole federation. Nobody does more than that. We're number two in yam production throughout the country. We are number two in cassava throughout the country and we are number five in rice production.

"So, if people are not going to farms, we’ll not be achieving these kinds of numbers. These are the realities on ground, these are things that you can go and find out on your own. So as far as we are concerned, we're not saying that there are no kidnappings in Nasarawa, from time to time you'll find it here and there.

Terrorism, Violent Extremism Threat to ECOWAS, Says Commandant Kofi Centre

Michael olugbode in Abuja

The Commandant, Kofi Annan International Peacekeeping Training Centre (KAIPTC), Maj. Gen. Richard Gyane, has described violent extremism and terrorism (VET) as the biggest threat to the ECOWAS subregion, Africa and humanity.

Gyane stated this in Abuja during a chat with journalists during a mobile training course on women, youth, and VET, organized by KAIPTC on Wednesday.

Also, Nextier, in its first quarter 2024 Nigeria Violent Conflicts Report, stated there were 5,319 casualties, 3,110 kidnap victims, and 1,500

Incidents of violent conflict between January 2023 and March 2024, However, Commandant Gyane said the security challenges in West Africa had informed KAIPTC’s decision to organise the capacity building for women and youth to build their resilience to tackle terrorism.

He said the training organised in collaboration with the Norwegian Government, would empower women and youth with the requisite knowledge about terrorists’ operations and build their resilience against VET threats.

“If you look at our subregion now, violent extremism is a big threat to

us. If you look at the Sahel nations, most of these countries are virtually taken over by violent groups.

“If you look at Nigeria and the Boko Haram group, and the movement of these groups southwards, it is worrisome.

“Why are we particular about women and youth? They become vulnerable. These are the most vulnerable groups in our society, who are subject to radicalization by VETs.

“The aim is to engage these women and youth especially and let them understand the issues, the recruitment and all that about these groups who want to destroy our

humanity within the subregion,” Gyane said. Nextier, in its first quarter 2024 Nigeria Violent Conflicts Report on Wednesday, said there are 5,319 casualties, 3,110 kidnap victims, 1,500 Incidents of violent conflict between January 2023 and March 2024, The organisation’s Senior Policy Research Analyst, Kenn Maduagwu, while presenting the report in Abuja, lamented that despite decline in Boko Haram's insurgency, the continued threat from ISWAP, evolving tactics, and underlying vulnerabilities had shown that terrorism remained a significant concern in Nigeria for 2024.

8th DStv Media Sales - Media

Segun

Shiklam

Deji elumoye in Abuja

Email: deji.elumoye@thisdaylive.com

Adaramodu: Tinubu Won’t Prevent Ministers from Honouring N’Assembly Summons

Senate Spokesperson, Senator adeyemi adaramodu, in this interview speaks on salient national issues and also clarifies President Bola Tinubu’s recent statement about need for federal lawmakers to reduce their frequent summon of his Ministers and other appointees. Sunday Aborisade brings excerpts:

Will the recent statement by President Bola Tinubu, asking federal lawmakers to reduce their frequent summon of his appointees not hamper the oversight functions of the National parliament ?

A - The President was once a senator. From my own understanding, no minister, no head of any ministry, departments or agencies of the Federal Government will be summoned by the National Assembly without a reason.

Even when we were being inaugurated, the President gave a directive and executive order to ministers and anybody that is managing any MDA to act and attend promptly to any summon and to answer any question that might be raised by the National Assembly.

So in the context, it’s not a negative comment passed by Mr. President. He is only saying that when any MDA head will be summoned, that person will be summoned based on substantial and substantive reasons and matters and that nobody in the National Assembly, no committee will call any head of any agency, frivolously.

In fact, it is just a standing rule in the National Assembly that you cannot call an MDA head without prior notice to them stating the reasons. It’s not going to be by phone call. It is not going to be by text message. It has to be stated in writing. The reasons must be stated in a letter. It is not going to be chairman of a committee’s matter. It is going to be the whole committee’s matter. It must be on policy matter. It must be on delivery matter. It must not be about internal affairs of that ministry or that agency.

If it is going to be internal matter of that ministry or that agency, whoever has any complaint against them must bring it in form of public complaint and through a petition. Such petition will be read by the concerned legislator at the open chamber for all senators to hear and then for it to be referred to the necessary committee to sit on it.

So with this, Mr. President is only trying to tell heads of the MDAs and the legislature to find a coordinated nexus of meeting when and where it is necessary and that result will be gotten to enhance governance and development. So it is not an indictment on the legislature. It is just that some people are trying to misread the semantics of Mr. President’s words.

Are you satisfied with the legislative performance of the 10th Senate so far? Should we expect something different from what usually happens in the past?

The legislature perfoms three-pronged functions. It makes laws, it carries out oversight, and at the same time, it represents the people. Lawmakers ensure that they get across to their constituents always and give them feedback and advocate for them. So those are the three very major functions of the legislator.

On the issue of lawmaking within the chambers, the 10th National Assembly, especially the Senate, has done tremendously well because we have passed a lot of motions, life-changing, lifeenhancing motions. We have passed motions on the economy, on infrastructure, and on security especially. We’ve done a lot. In terms of bills on security, arms proliferation matter, and trust funds. We have also legislated on the petroleum tax law, and several others like that.

On the issue of oversight, yes, we are doing great.

When should Nigerians expect aggressive oversight by lawmakers to the MDAs?

The first budget that the 10th Assembly would pass was the 2024 budget. It will soon start running because the last budget of 2023, which was not passed by the 10th Assembly, is still running. It is until 2024 budget start in full force, that we can start to find the milestones where we are, what we have done. We will look at what the MDAs are doing with it. Apart from that, the oversight functions of the National Assembly is not fully limited to the issue of budgetary performances of the MDAs. Outside that, public interest matters. Like when we talk of labour matters, when we

talk of even electoral matters when we talk about inflationary matters, when we talk about security matters, when we talk about even at times disasters. So those are areas that we have been having oversight.

Some committee chairmen have cited insecurity as reasons they can’t go on oversight. What’s your reaction to this?

I am not sure that is happening. Why I said I’m not sure that is happening is that, some kidnapping incidents occur in Nigeria nowadays on the main road and the committee on works, headed by Senator Barnada Mpigi was with the federal ministry of works staff. They went around to inspect the various road projects that the federal government has contracted. For example, they came to Ekiti, we saw them, we met them, and then we even welcomed them and we spoke with them. So if committee that is saddled to do oversight functions on the road projects, building of road, maintenance of roads in Nigeria could just go out there to the

roads despite the presence of the kidnappers on the roads, they are not in the air.

So definitely, if the committee that is carrying out oversight function on road construction, can be on the roads. So I don’t think the Committee on aviation will now give us the excuse of a worse security situation than that of the road where kidnapping do take place. So that’s why I said I’m not going to aptly agree that any committee chairman could have given that one as an excuse.

Like me, I’m in the Committee on Youth Development and we visited the orientation camps of corps members, all over Nigeria. We have been to East, we have been to the West, and to the North and we are not endangered to the extent that we will not be able to perform our duty and our function as legislators who will do oversight functions on the MDAs. So if those two critical committees could go ahead and then do the oversight no other committee should complain. When the committee on the petroleum matters visited the Port Harcourt refinery, there was never an excuse of maybe the road is dangerous. They got there and then we saw what they did. They gave us report that the refinery, that of Port Harcourt was

Even when we were being inaugurated, the President gave a directive and executive order to ministers and anybody that is managing any MDA to act and attend promptly to any summon and to answer any question that might be raised by the National Assembly. So in the context, it’s not a negative comment passed by Mr. President. He is only saying that when any MDA head will be summoned, that person will be summoned based on substantial and substantive reasons and matters and that nobody in the National Assembly, no committee will call any head of any agency, frivolously. In fact, it is just a standing rule in the National Assembly that you cannot call an MDA head without prior notice to them stating the reasons.

90 per cent complete and that within a few weeks or months, that we will start producing petroleum products from the refinery.

Two senators have been quoted in the media to have supported the Minister of Education that the minimum age requirement for admission into tertiary institutions should be pegged at 18 years. Is that the position of the Senate?

That is a comment. It is not a law. It is just a comment. It’s not a law. By the time the Senate resumes fully, whoever wants to bring that one out to make it a law, will bring it and then the procedures will take place because you can bring whatever to the floor in form of a bill.

When you bring it, there’s going to be public hearing. All the stakeholders will sit down and talk about it, the parents, teachers, legislators, civil society organisations, even foreign organisations. We will sit down and we talk. Even if they say that the minimum wage should be 30 or 12 we will all discuss it at an open forum. It is still a comment which cannot be taken to be the law.

We also learnt that the minister had instructed the JAMB leadership not to release the result of those who are not up to 16 years There is nothing like that. It cannot happen. When the prospective applicants bought their forms, there were no such conditions. So when they have bought forms under one condition, that condition cannot be changed along the line until the current set of candidates have been successfully attended to. When the next engagement is to take place, then if the bill to increase the minimum age requirement is brought either as an executive bill or personal or private bill or the public brings it as a bill, then the National Assembly will now sit down and then allow it to go through the crucible of lawmaking. This is a country, this is Nigeria. So all of us will sit down and deliberate, oh, this is what we want, this is what we don’t want. So, far anything said about it is just a mere comment, it’s just an opinion. It is not law yet. So once something is not law, then there’s the level of jaw jaw that we can do.

Adaramodu

FEaturEs

At TETFUND, the Goal is to Rescue Nigeria's Tertiary Institutions Despite All Odds

Since the administration of President Bola Ahmed Tinubu came into office nearly a year ago, there have been several attempts to disrupt the flow of governance as well as the laid-out policies of the young administration. Some of the tactics adopted include deliberate targeting and demonization of key functionaries of the government, perhaps to put them on their toes.

Over the past few months, several key figures appeared to have been selected as objects for a campaign of calumny – ironically by using the Tinubu government’s stated aversion to corruption to malign these officials. It is in this wise that the Executive Secretary of the Tertiary Education Trust Fund, TETFund, Arc Sonny T. Echono, could be said to have found himself among the select few.

Recently, there has been a flurry of reports alleging that the leadership of the TETFund awarded ‘questionable contracts’ amounting to the tune of N7.6 billion. The agency, it is alleged, usurped the powers of President Tinubu and the Federal Executive Council in doing this, and that the Fund acted outside its mandate in carrying out capacity building programmes in its beneficiary institutions.

One of the stated policy goals of the Tinubu administration is an overhaul of Nigeria’s education system to make it more inclusive as well as responsive to global realities. One of the cardinal pillars of this policy is tertiary education, which had suffered greatly in the recent past from poor infrastructure, poor funding and demotivated staff.

One of the key agencies of government towards awards achieving this transformation of the tertiary education sector is TETFund and this agency has performed creditably – especially since Arc Echono, an experienced technocrat, took over as the Executive Secretary.

One of his early decisions was a reform of the procurement process to make it smoother, eliminate corruption, reduce delivery time of projects, prevent cost escalation and improve general efficiency in the discharge of the Fund’s mandate. As part of the reform process, all projects to be executed by the Fund are planned, packaged and selected by the beneficiary institutions for review and concurrence of the Fund. It also ensures that there are no more TETFund or vendor-promoted projects, as the needs of the institutions shall prevail.

For the umpteenth time, TETFund, has clarified that part of the reforms it carried out was to eliminate the use of vendors and contractors in its academic and professional staff training interventions. Contracts are no longer used for its content-based interventions except in infrastructural projects where the procurement of goods, tools, laboratory equipment and others are needed.

On the sidelines of the 2nd Registrars' Workshop and 75th Business Meeting of the Association of Registrars of Nigerian Universities, recently in Abuja, Echono emphasised that the fund has been leveraging on Memoranda of Understanding to carry out its academic and professional staff training since 2016.

"We do not use contracts. We have eliminated the use of vendors for academic and professional training. We sponsor people for postdoc, for bench work, or even academic degrees: masters and PhDs, and for profes-

sional proficiencies and certification in ICT that will improve employability.

"So, when detractors try to say things like these, they're calling it contracts, because they are trying to criminalise when they knew for example, that contracts you cannot pay more than 30% as advanced payments.

"We have removed all middlemen; people are not happy but I am sorry, that is the job I was asked to come and do. We have removed the wheeling and dealing and have been able to restore the image of our institutions, and we are proud of that achievement," he said.

On the procurement of blackboards, Echono said the fund had MoU with an American company which made the purchase of the boards cheaper, adding that individual institutions wrote TETFund asking to participate in the project and agreed to the terms of payment. The Echono management has also gone into partnership with both local and foreign educational authorities and stakeholders to improve the general standard of tertiary education in the country. Last year, President Tinubu lauded the agency for its foresightedness and dedication to service delivery. The president gave the commendation during the commissioning of projects funded by the Tertiary Education Trust Fund in public tertiary educational institutions in the country.

The President, who was represented by members of his cabinet and other top government functionaries at the different beneficiary institutions across the country, expressed delight at the various projects which he said would further enhance teaching and learning and improve academic standards in the institutions. President Tinubu assured that his administration would continue to provide necessary support towards making Nigerian educational institutions globally competitive for economic and technological development of the country.

Similarly, the National Assembly under the leadership of the Senate President, Senator Godswill Akpabio and Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas has stated that it would continue to provide necessary support to TETFund through the enactment of legislations that would further advance tertiary education in Nigeria. The commissioned projects include those at the University of lbadan and The Polytechnic Ibadan, worth over N650million and N1billion respectively.

The projects are the Department of Architecture building, Faculty of Technology Building at the University of lbadan, and Faculty of Business and Communication Studies Building, Faculty of Financial Management Studies Building and Faculty of Science Building at The Polytechnic, Ibadan.

In Gombe State, 11 projects valued at over N4.5 billion were commissioned by the Minister of Transportation, Alhaji Saïdu Alkali at Gombe State University. At the Ebonyi State University, Abakaliki, the Minister of Works, Senator David Umahi commissioned three projects worth over N1.5 billion.

The Kwara State University, Malete, was beneficiary of three commissioned projects, namely the Senate Building, the College of Engineering Workshop Extension and the Centre for Sustainable Energy Building.

Similarly, projects worth N873.6 million were commissioned at Abubakar Tafawa Balewa University and Abubakar Tatari Ali Polytechnic in Bauchi State; while an array of projects worth N2billion were inaugurated at the Federal University of Technology, Abeokuta and Tai Solarin College of Education.

The raft of support to tertiary education by the Echono leadership was also recognized by the leadership of the 10th Assembly who also participated in the inauguration exercise. The lawmakers expressed excitement that since the enactment of the TETFund Act in 2011, the Fund has performed exceptionally in the provision of physical infrastructure, support for academic staff training and development, book publication, ICT, Research and Development amongst others in public tertiary educational institutions across the country.

Beyond improving infrastructure at various educational institutions across the country, Arc Echono-led TETFund is also taking steps to help fresh graduates secure jobs as a way to address mass youth unemployment in the country. This the agency is doing by implementing the recommendations from its Graduate Employability Benchmark programme conducted in partnership with the International Finance Corporation, IFC, to reduce unemployment rate in Nigeria. This was motivated by the report of the

IFC on Nigerian educational institutions, which indicated that the aggregate average score of Nigerian benchmark institutions across the five dimensions of employability namely relevance of learning, governance and strategy, employer engagement, career services/guidance, and alumni management stood at 2.3 out of 4.0.

This is a little above 2.2 which represents the average of institutions benchmarked globally.

Indeed, the agency was deliberately refocusing its intervention activities to support learning outcomes and employability of Nigerian graduates. The new approach came on the heels of an approval by the Federal Ministry of Education of a strategic and operational plan to refocus TETFund entrepreneurship intervention for employability and innovation.

With his innovative and result oriented leadership, it is not surprising that various stakeholders in the education sector have spoken warmly about the transformational activities of TETFund under Arc. Echono.

In a recent statement affirming its support for TETFund and its management, the leadership of the National Association of Nigerian Students, NANS, commended TETFund for being a “driving force” behind the advancement of higher education in the country. NANS President, Peter Obi said the leadership of Echono has marked significant strides in addressing the pressing infrastructure needs of academic institutions.

“From modernizing facilities to enhancing research capabilities, TETFund has been a driving force behind the advancement of higher education in our nation. It is evident that without the crucial support provided by TETFund, our tertiary institutions would be left vulnerable and ill-equipped to meet the demands of contemporary education.

“Take away TETFund, and our universities, polytechnics and colleges of education will go naked, deprived of the essential resources needed to thrive in an increasingly competitive global landscape,” Obi said.

National Coordinator, Nigerian AntiCorruption Defenders, Leonard Musa has also commended the exemplary performance and technical support provided by TETFund to all the Universities across the country which has facilitated conducive academic activities.

“Drawing from his extensive experience as a former Permanent Secretary in the Federal Civil Service, the Executive Secretary has doubled his efforts in transforming TETFund into a beacon of excellence in tertiary education funding,” NACD said.

TETFund, Musa said, has been driving educational reforms across tertiary institutions in Nigeria and has returned sanity to the sector.

Echono’s detractors might want to reflect on an old wise saying: “It is not in the nature of worms to teach eagles how to fly.’’ Though the dogs might continue to bark, it would not stop the caravan from moving on to its destination.

The managers of TETFUND are experienced, focused and dedicated to making a positive impact on their mandate. They are already making remarkable impacts and no amount of skullduggery by faceless charlatans would make them deviate from this mission to rescue Nigeria’s tertiary institutions.

•Kareem, a public policy analyst writes from Abuja

Tajudeen Kareem

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

THE PLIGHT OF SCHOLARSHIP STUDENTS

The authorities should please pay the allowances of students abroad promptly

It is disturbing that the stipends of Nigerians studying abroad on scholarship have not been paid in the past 11 months by the federal government. “Some students in China have not received any stipends since they arrived in April and May 2023. In Russia, students are struggling with the increased cost of living due to sanctions,” according to their statement referenced by a national newspaper during the week. These are students studying under the federal government’s bilateral educational agreement scholarship with partnering countries, a scheme supervised by the Federal Ministry of Education. “This pattern of delayed payments has persisted for years, diverting our focus from academic pursuits to survival (contemplating our next meal, daily transport, pending payments, medical expenses, and housing.)”

Over the years, unpaid allowances have become a pervasive issue plaguing Nigerian scholars abroad, and impacting badly on their pursuit of academic excellence. These scholars, entrusted with representing their country on the global stage, face numerous challenges when essential allowances, such as tuition and living stipends, remain unpaid. As of today, Nigerian students studying in Morocco, Algeria, China, Russia, Hungary, and other countries, on a federal government scholarship scheme are owed their basic allowances as the culture of delayed payment seems to have taken root.

of Nigerian academia on the international platform. Without financial stability, scholars grapple with stress, distraction, and even potential expulsion due to unpaid fees, hindering their focus on studies and research. Furthermore, the uncertainty surrounding their financial situation erodes their motivation, leading to a decline in academic performance and diminishing the quality of their research output.

For the Nigerian scholars in Russia, the situation is worse given the level of hardship facing the people as a result of the war between Russia and Ukraine. There were reports that some of the students had to settle for menial jobs to survive. According to the spokesperson for the parents' group, Kola Benson, since last June, when the students received their last payment, they have not been paid with most of the parents having to beg relatives to send financial support to their wards.

Without financial stability, scholars grapple with stress, distraction, and even potential expulsion due to unpaid fees, hindering their focus on studies and research

T H I S D AY

EDITOR SHAKA MOMODU

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU

CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI

EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

This delay has also led to dire consequences, especially for those residing in countries like Morocco, where the country doesn’t have adequate provisions for school hostels, unlike the other sister BEA countries. This means that stipends are crucial for covering basic expenses such as housing, electricity bills, handouts, internet bills, water bills, transportation, and food. Many of these students are now going through harrowing times for no fault of theirs.

This systemic issue not only undermines the potential of Nigerian scholars but also tarnishes the reputation

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI

DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE

DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI

SNR. ASSOCIATE DIRECTOR ERIC OJEH

ASSOCIATE DIRECTOR PATRICK EIMIUHI

CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI

DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO

TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor

Curiously, a government that seems to have imbibed a culture of delay in the payment of the allowances for the existing scholars has not deemed it fit to suspend the enrolment of new scholars as it selected a new set numbering 179 to study in various institutions in Russia under the Bilateral Education Agreement (BEA) last November. President Bola Tinubu should wade into this crisis and save the innocent children from avoidable embarrassments in foreign lands. All obstacles to prompt payment of these allowances should be tackled immediately.

To renew the hope of Nigerian scholars, the government should implement transparent budget allocation by ensuring sufficient funds are allocated in the federal budget specifically designated for the payment of Nigerian scholars abroad. The government should also establish an effective monitoring mechanism to track the disbursement of allowances from the federal government to relevant agencies. Again, there is a need to streamline administrative processes involved in disbursing allowances to scholars abroad and improve communication channels between the government, relevant agencies, and scholars abroad.

Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

HEALING

THE RIFTS IN BAUCHI APC

The Bauchi State Chapter of the All Progressives Congress (APC) is at a critical juncture, grappling with internal conflicts and anti-party activities that have undermined its cohesion and effectiveness since 2019. As the party seeks to reconcile its warring factions, a crucial question arises: can reconciliation be achieved without accountability?

The party's woes are well-documented. Infighting, defections, and open support for other parties have eroded its unity and strength. In the last general elections, former Education Minister Adamu Adamu allegedly worked against the party through its former state Chairman, Babayo Aliyu. Throughout the campaign period, Aliyu was conspicuously absent, allegedly doing the bidding of the former education minister.

Former Governor M.A. Abubakar openly supported the PDP against the APC in the last general elections. Senator Halliru Jika defected to the NNPP to fight the APC, only to return after the party lost elections. Currently, federal ministers Muhammad Ali Pate and Yusuf Maitama Tuggar are perceived to be sitting on the fence, romancing both APC and PDP in Bauchi State.

As the APC seeks to reconcile, it is essential to address these betrayals of trust. Reconciliation without accountability would be a hollow exercise, allowing defaulting members to go unpunished and undermining the party's integrity. Party members are right to demand explanations from those who have betrayed the party's trust.

Adamu Adamu, M.A. Abubakar, Halliru Jika, Ali Pate, and Tuggar must be held accountable for their actions. Their explanations will help to heal the wounds of the past and restore trust within the party. Reconciliation with accountability is the only way forward for the APC in Bauchi State. It will demonstrate that the party is committed to discipline, unity, and the principles that brought it to power. Anything less would be a recipe for further wrangling and division. The party leadership must take a firm stance, ensuring that reconciliation is accompanied by accountability. Only then can the APC in Bauchi State emerge stronger, more united, and better equipped to serve its members and the people.

Mukhtar Jarmajo, Wuse 2, Abuja

BANNING THE COLOURS

When does the silliness stop? It's hard to tell which is worse, Gender reveal parties or an attempt to ban them as is proposed in Britain. Strangely for such a modern approach there seems to only be pink or blue versions whereas there are a number of other ways people identify themselves.

In the more saner times, a doctor or nurse would say what the birth gender was and word would spread swiftly amongst the community. Now, as YouTube will verify, there are numerous approaches, seemingly for Social Media usage, and not all of them safe much less sensible.

The ever informative Wikipedia adds more details including, numerous fires and a few deaths from flying components. Surely just telling granny will be faster, more effective, and less dangerous. Banning people from doing stupid things, especially if they get likes, has been shown to be virtually impossible.

Dennis Fitzgerald, Melbourne, Australia

HealtH & lifestyle

To What Extent is Mental Burnout an Identifiable Health Condition?

Aita Unuigbe

Burnout is widely recognized by healthcare professionals, and the general public as a widespread and detrimental occupational state of mind. Even though burnout is widely acknowledged, there are still ongoing debates within the scientific community regarding its definition and the legitimacy of classifying it as a separate mental health condition.

What precisely is burnout? Until recently, burnout has been called a stress syndrome. However, according to the World Health Organization, burnout is defined as “a syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed” in the organizations international classification of diseases diagnostic manual (World Health Organization, 2019). It is included in the 11th Revision of the International Classification of Diseases (ICD-11) as an occupational phenomenon. It is not classified as a medical condition. It is described in the chapter: ‘Factors influencing health status or contact with health services’ – which includes reasons for which people contact health services but that are not classed as illnesses or health conditions.

The WHO goes on to define mental health conditions as a broad term that encompasses mental disorders, psychosocial disabilities, and (other) mental states associated with significant distress, impairment in functioning, or risk of self-harm.

In a New York Times article, “Burnout: Modern Affliction or Human Condition? The Harvard professor of history Jill Lepore writes that to be burned out is to be used up, like a battery so depleted that it can’t be recharged.

According to the Mayo Clinic here are questions you should ask yourself for symptoms of burnout

Have you become cynical or critical at work?

Do you drag yourself to work and have trouble getting started?

Are you irritable or impatient with co-works, customers or clients?

Do you lack the energy to be consistently productive?

Do you lack satisfaction from your achievements?

Do you feel disillusioned about your job?

Are you troubled by unexplained headaches, stomach or bowel problems, or other physical complaints?

Once you have answered yes to more than two of the above questions, you may likely be suffering from job burnout.

Physical symptoms of Burnout

The Queensland Government Darling Downs Health lists emotional symptoms of burnout as

Helplessness

Cynicism

Sense of failure or self-doubt

Feeling detached or alone in the world

Loss of motivation

The same article lists behavioural signs as Reduced performance in everyday tasks

Withdrawal or isolation

Procrastination

Outbursts

Using substances to cope

In countries like Sweden, burnout is relevant enough that it is considered valid grounds for sick leave. On the other hand, countries like the United States do not have such policies yet, as burnout is not recognized as a mental disorder by the DSM-5, published in 2013, and though there are ongoing conversations that it could one day be added, many psychologists object, citing the idea’s vagueness. A number of studies imply that burnout can’t be distinguished from depression, which makes it, as a clinical term, imprecise, redundant, and unnecessary.

A Personal experience narrated

Anne- Laure an ex-google employee and the founder of Ness Labs, blogs about her experience of burnout and how reaching out to her manager helped turn things around for

her. Anne Laure narrates her story of how when she first started her job at google, she started doubting herself. She felt there were so many smart and talented people and felt sooner or later they would soon realise she wasn’t really good enough. At the time, she didn’t know but these were classical symptoms of imposter syndrome. This made her work harder and take on more tasks then required. She would say yes to everything, if someone needed a hand on a project, she was happy to help. At some point she was sent out of the country on training and was working and in order to keep up, she worked round the clock to keep up with two time zones.

It was starting to tell on her, and she realised there was a problem when she broke down in tears when a colleague questioned the methodology she used on a small project. “I was lucky that I had an amazing manager that was I was feeling close to. We had started at Google on the very same day, and she too was working really hard. When I got back to London, I decided to tell her about what I was going through. She was incredibly understanding. We sat down and reviewed all of my projects together. Which ones actually aligned with our core business objectives? Which ones would be better managed by someone else?

“There were things that were so new to me that they were taking me hours, whereas someone who had been at Google for years could do it with their eyes closed. She taught me that work is all about finding the right people for the right tasks, not about trying to do as much work as possible yourself.”

Today she runs her own company and still applies the rules that she learned, which is prioritization and self-care in one’s day to day work and she regularly writes about mental wellness to share some of those experiences with others who may be going through those same challenges. This story was particularly interesting to me as google is a big, recognised company and one that I particularly like, and I have always been curious of how the work life balance is. It’s encouraging that such a big and successful company as google would have manager(s) as sympathetic as Laure’s manager(s) was.

Prevention of Burnout syndrome

There are lots of warning signs that individuals ignore which eventually leads to burnout due to negligence and ignorance. If one is aware of the warning signs, then it is easy to take preventive measures such as these:

Relaxing morning rituals that are not chores but pleasurable such as stretching, meditation, yoga, journaling, exercise, praying, music therapy or even watching television

by chronic stress which is long-term stress and work related. However, depression isn’t usually caused by a single activating event but rather different things leading to it.

Some contributing factors include genetics, traumatic events, family issues, culture, medication etc. The major similarity is the loss of interesting and impaired concentration. The key difference to remember about both burnout and depression is that burnout relates to a specific situation whereas depression is more generalized.

Where burnout may cause a person to feel negative about a specific situation depression causes a person to gain a negative attitude towards a lot of different things at once, burnout may also cause a person to feel less confident about completing particular task, depression causes a person to lose confidence in their ability to do anything at all.

Healthy eating and living

Setting boundaries, this is where it is important to know when to say no, when to say I need help or when to say yes.

Treating oneself to what is pleasurable such as doing something creative, reading, nature walk, a day at the spa. Otherwise known as self-care

Taking vacation time. This can be staycations or travelling away

Sleep. Incorporate at least 8 hours of sleep every night

Work with purpose - Look at the deeper impact of what you do and how it impacts others.

Perform a job analysis - Identify what your role is so that you can delegate task that aren’t part of your role

Give to others - Acts of kindness often reenergises and helps put meaning to your work.

Take control - Effectively prioritize and manage your time. Implement a task list.

Burnout in comparison to depression a recognized mental health condition

A prevalent issue of particular relevance for psychiatry is the link between burnout and mental illness. In my extensive reading on burnout, as I did more research on if mental burnout is an identifiable mental health condition, I pondered on the actual definition of mental health condition. What does mental health condition mean?

According to the Mayo clinic’s definition, “Mental illness, also called mental health disorders, refers to a wide range of mental health conditions- disorders that affect your mood, thinking and behaviour. Examples of mental illness include depression, anxiety disorders, schizophrenia, eating disorders and addictive behaviour.”

Although burnout has not been classified as a mental health condition which answers my question, it shares many similarities to some identifiable mental health conditions such as some mentioned above, case in point depression. This often leads to a confusion when the disorder takes place. To help understand this further, I decided to investigate the relationship between both to see why burnout can mirror depression in many cases and even create the wrong diagnosis. Interestingly enough, most symptoms of burnout and depression are ever so similar. It appears some people may experience one but not the other or both at the same time and it is often difficult to distinguish between the two. Burnout as mentioned earlier is caused

In an article in the New York times, it further spotlights that burnout is an “occupational phenomenon” not a medical condition where depression however is a clinical diagnosis. Sufferers of depression may often experience anhedonia, the inability to enjoy activities they once did. “You can be reading a book you used to love and now you hate it” said Dr Jessi Gold, a physiatrist at Washington university. In the case of a burnout individual, you may have a lack of energy for hobbies whereas with depression you may not find it fun at all, said Jeanette M. Bennett, an associate professor who studied the effects of stress on health. People with depression may segregate themselves from others and may often feel intense sadness, hopelessness and worthlessness and these feeling could last up to two weeks however burnout symptoms are more short-term and get better when you step away from work according to Dr Rebecca Brendel.

With burnout a change of circumstance may cause you to feel better however with depression even taking a holiday or changing of circumstance doesn’t make a difference. It is worth noting that in clinical practice, exhausted employees are being diagnosed with burnout and frequently, in order for the clinicians to proceed with their treatment, they turn to alternative diagnoses like the ones of depression or exhaustion (Kaschka et al., 2011). From my readings, I found that one can be depressed about a particular situation so even in the workplace working on a project with say group A may be depressing but once that is done, that feeling is better. However, burnout is more long-term as you are disconnected and even the completion of the task doesn’t fix the emotion.

Burnout made its way to the famous medical TV series ‘Greys Anatomy’. In season 18, episode 16, it covered the topic and used the World Health Organizations’ definition to start the show. It ended with a great quote “put simply burnout comes from a deep imbalance, too much stress with too few rewards. You are exhausted, depleted, you no longer have patience, pleasure of serotonin.” - Meredith Grey

To conclude, burnout remains categorized often times as a form of depression rather than a differentiated type of pathology. Thus far, burnout is only limited to workplace alas no scientists or researchers have been able to add any other categories to it. It is without doubt that results of various research have shown that burnout needs to be addressed at both individual and organizational levels as it is a growing issue that affects individuals across various industries and professions. To mitigate the effects of burnout, it is important for individuals to prioritize self-care, establish boundaries between work and personal life, and seek support from friends, family, and mental health professionals. Employers also play a crucial role in preventing burnout by creating a supportive work environment, encouraging work-life balance, and providing resources for employee well-being. Addressing burnout is not only important for individuals to lead fulfilling lives, but also for organizations to maintain a productive and motivated workforce.

•This is an abridged thesis by an 18-yearold Miss Unuigbe as part of her extended project qualification for A Levels

Two-years After 5G Launch, More Nigerians

Emma Okonji

In spite of the many advantages of the fifth generation (5G) technology, as reeled out by telecommunications operators, only few Nigerian telecoms subscribers have access to 5G technology, two years after its launch in the country.

Majority of the subscribers are still utilising the second generation (2G) technology to access telecoms services across networks, according to the latest statistics released by the Nigerian Communications Commission (NCC).

Following the orders from the NCC, that all licensed 5G operators must roll out 5G services in 2022, MTN Nigeria Communications Plc, had a pilot rollout of 5G services in August 2022, before the commercial rollout of its 5G services in Lagos, in September 2022, with a promise to roll out in six other states before the end

Emma Okonji

Cybervergent, a foremost technology company, providing automated cybersecurity solutions, has revealed a troubling trend in the financial sector that shows a spike in attacks utilising the deceptive Remote Control and Surveillance Access Trojan (Remcos RAT) in Q1, 2024.

The findings affirm a stark forewarning to the financial institutions and organisations in the African continent, Nigeria inclusive,

of that year.

In June 2023, Airtel Nigeria also rolled out its 5G network in four states in Nigeria, with plans to cover the entire country by the end of 2022.

Both MTN and Airtel hyped so much on the benefits of 5G network, and they encouraged telecoms subscribers to connect to 5G and enjoy the new possibilities and experiences that 5G brings.

According to the telecoms operators, “5G is not just about speed. 5G will help people do more with their devices, unlocking a whole new world of possibilities for society. 5G connectivity will pave the way for life-altering advancements, bringing in high speed of connectivity with lower latency, and giving customers nearinstant access to the things they care about and downloads that take seconds, instead of minutes.”

But in spite of the hype, only

urging heightened vigilance and proactive measures to mitigate potential escalating risks.

Previously marketed as a legitimate software, Remcos got co-opted by malicious actors and is now a prevalent tool in cybercrime campaigns. The remote access tool grants attackers hidden entry into victims’ devices, allowing them to seize control, pilfer sensitive data, and even introduce stealthbackdoors to compromise entire systems. The capabilities of Remcos are diverse and frightening, ranging from

few telecoms subscribers have been connected to the 5G network, as majority of subscribers are still on 2G network.

Advancement in technology started with GSM technology, and later advanced to 2G, 3G, 4G and 5G technologies, with each technology promising better customer experience.

But the recent statistics released by the NCC, which THISDAY obtained from its website, showed that majority of telecoms subscribers are still accessing telecoms services via the 2G technology, despite the hype on 5G technology.

According to the statistics, as at March 2024, 2G penetration across networks is 56.97 per cent, while 3G penetration is 9.04 per cent. The 4G penetration is put at 32.74 per cent, while 5G penetration, which is the latest technology with so much hype was put at 1.24 per cent penetration.

disabling vital security features like User Account Control (UAC) to covertly recording user activities.

Chief Solutions Officer at Cybervergent, GbolaboAwelewa, said: “As vigilant cybersecurity gatekeepers, we have observed a significant surge in attacks leveraging the Remcos RAT malware. Financial institutions are particularly targeted due to the sensitive nature of their data and assets. Organisations must remain diligent and adopt proactive monitoring measures to safeguard

From the statistics, one year after the commercial launch of 5G network in Nigeria, its penetration level was 0.88 per cent as at September 2023, when 2G penetration level was already at 60.08 per cent and 4G was at 28.47 per cent penetration level.

However, 2G penetration started sliding from October 2023 at 60.00per cent, to reach 57.84 per cent in December 2023, with a further slide to 57.78 per cent and 57.55 per cent in January and February 2024 respectively, before sliding again to 56.97 in March 2024.

But 5G technology continued to grow, though slowly, as it grew from 0.88 per cent in September 2023 to 0.90 per cent in October 2023, with a further slight growth to 0.96 and 1.04 in November and December 2023 respectively. There was a further minimal growth in 5G technology to 1.11 per cent in January 2024, and another minimal growth to 1.18

against such threats.”

The proactive approach adopted by Cybervergent’s Cyber Operations Centre involves meticulous analysis of attacker tactics, constant updating of threat intelligence, and implementing robust endpoint security solutions. These measures are designed to detect, prevent, and neutralise Remote Access Trojans like Remcos, ensuring the continued security and compliance of organisations in the face of evolving cyber threats.

“Our mission is to fortify our

per cent in February 2024, before reaching 1.24 per cent penetration level in Mach 2024.

Despite the slide in 2G technology penetration level, beginning from the commercial launch of 5G in September 2022, the NCC statistics however made it clear that more subscribers are still connected to the 2G technology at 56.97 per cent penetration level, compared to 5G penetration level at 1.24 per cent as at March 2024.

Giving reasons for the slow growth of 5G technology, despite the hype about its benefits, the Chairman, Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, blamed the slow growth in 5G penetration, on three factors, which he listed to include lack of capital investments in telecoms, high cost of 5G-enebled devices, and the attempt to manage the disposable income of 5G users.

He said, “Telecoms operations

clients’ defenses and ensure the seamless operation of their organisations. By staying ahead of emerging attack vectors and vulnerabilities, we empower businesses to take proactive measures and protect their valuable assets,” Gbolabo further said.

require huge capital investments, but in the last two years, investments in telecoms dropped. Because of the state of the economy, people are not investing in telecoms business, and telecoms operators are not able to invest either, by way of network expansion. 5G for instance, requires heavy investments, but the high cost of 5G equipment is hindering telecoms operators from investing in 5G network.

“The second factor is about the high cost of 5G enabled devices, which is limiting majority of the telecoms subscribers from upgrading to 5G network. 2G enabled devices like smartphones and tablets are much cheaper and because of the low income of many Nigerians, they can only afford to buy 2G enabled devices and therefore prefer to remain on the 2G network.

Looking ahead, Chief Executive Officer of Cybervergent, Adetokunbo Omotosho, emphasised the firm’s focus on empowering organisations to navigate the complexities of cybersecurity and compliance with dexterity and confidence.

“Cybervergent’s assurance and compliance team has demonstrated unparalleled leadership in the cybersecurity domain, achieving significant milestones and delivering transformative solutions. Our journey through Q1 reflects a deep commitment to advancing the state of cybersecurity compliance, paving the way for a secure and resilient digital future for organisations in Africa and across the world”, Omotosho added.

L-R: Former Chairman, Vitafoam Nigeria Plc, Dr Dele Makanjuola; Immediate Past Chairman, Vitafoam, Prof. Rosemary Egonmwan; Group Head,  Admin & Legal Services, Lekan Sanni; former Managing Director, Vono Nigeria Limited, Titilope  Bakare; Group Managing Director and Chief Executive Officer, Vitafoam, Taiwo Adeniyi;  Supply Chain Director, Ola Ogunfeyitimi; Commercial Director,  Dahiru Gambo and Operations Manager, Vono Nigeria Limited, Raji Shina at the launch of remodelled Vono Showroom in Lagos… recently

How Rotary Int’l Leverages Technology to Address Local Needs

Stories By Emma Okonji

Rotary International District 9110 has explained how the charitable and Non-governmental Organisation (NGO), is leveraging technology to execute its various service projects in Nigeria that have addressed the local needs of majority of people and communities.

Speaking at a press conference in Lagos, to announce its next district conference in Abeokuta, Ogun State, the District 9110 Governor, Rotarian Ifeyinwa Rita Ejezie, said technology has helped them to speed up processes in their various project executions and has helped in successfully completing such projects in record time across Lagos and Ogun states.

“Technology has helped us to partner seamlessly with physicians

that are specialised in mental health from America and from across the globe, to organise hybrid webinar, where they educated Nigerians on mental health issues, which is one of our eight areas of focus for the year. We are also leveraging the global radio of District 9110 to communicate real time to a global audience and local audiences about our humanitarian activities that are touching lives. We are also leveraging on social media in educating the public and for mass publicity of our activities.

This year, we have partnered with eye doctors in Nigeria to carry out over 3,000 cataracts eye surgeries free of charge in Lagos and Ogun states and several fibroid operations for women, while using modern technology equipment for the health sector. Last year, we flew in 50 medical consultants from

America in partnership with Rotary to perform various surgeries in 10 hospitals in Lagos and Ogun states for one month, using the latest equipment supported by emerging technologies like Artificial Intelligence (AI) and Blockchain technologies,” Ejezie said.

Speaking about the conference, tagged ‘Actualisation Conference’, Ejezie said the conference would enable the NGO to look at its stewardship for the year, and to re-strategise on its goal of touching lives and humanity.

According to her, during the conference, two new districts, District 9111 and District 9112 will be created out of District 9110, and their governors unveiled, a development that will bring to an end, the existence of District 9110 in Nigeria, after the Rotarian year, which ends June 30th 2024.

Ransomware Payments Increase 500% in One-year, Says Sophos

Sophos, a global leader of innovative security solutions that defeat cyberattacks, has released its annual ‘Stateof Ransomware 2024’ survey report, which found that the average ransom payment has increased 500 per cent in the last year.

According to the report, organisations that paid the ransom reported an average payment of $2 million, up from $400,000 in 2023.

“However, ransoms are just one part of the cost. Excluding ransoms, the survey found the average cost of recovery reached $2.73 million, an increase of almost $1 million since the $1.82

million that Sophos reported in 2023.

“Despite the soaring ransoms, this year’s survey indicates a slight reduction in the rate of ransomware attacks with 59 per cent of organisations being hit, compared with 66 per cent in 2023.

“While the propensity to be hit by ransomware increases with revenue, even the smallest organisations (less than $10 million in revenue) are still regularly targeted, with just under half (47 per cent) hit by ransomware in the last year,” the report said.

The 2024 report also found that 63 per cent of

ransom demands were for $1 million or more, with 30 per cent of demands for over $5 million, suggesting ransomware operators are seeking huge payoffs.

Analysing the report, Field CTO at Sophos, John Shier, said: “We must not let the slight dip in attack rates give us a sense of complacency. Ransomware attacks are still the most dominant threat today and are fueling the cybercrime economy. Without ransomware we would not see the same variety and volume of precursor threats and services that feed into these attacks.”

SHELT SI Achieves Cisco Select Partner Certification

SHELT System Integration (SHELT SI) has announced its achievement of Cisco Select Partner certification in Nigeria, marking a significant milestone in its commitment to delivering top-tier networking and security solutions to businesses across the region.

The certification underscores SHELT SI’s dedication to excellence in providing innovative networking and security solutions tailored to meet the evolving needs of the market.

Cisco Nigeria General Manager Sebastine Nzeadibe, said: “We are delighted to welcome SHELT SI to the ranks of Cisco Select Partners

in Nigeria. Their demonstrated commitment to excellence and customer satisfaction aligns perfectly with our values, and we look forward to collaborating closely together to empower businesses with transformative networking and security solutions.”

CEO of SHELT, Youssef Abillama, said: “Achieving this certification strengthens our relationship with CISCO and is a testament to our team’s dedication and expertise in delivering bestin-class solutions. This milestone reinforces our commitment to empowering businesses

in Nigeria with innovative technology solutions that will enable them to thrive in the digital age through cutting-edge technology solutions.”

SHELT’s Country General Manager, Walid Bou Abssi, added: “The Cisco Select certification empowers us to provide an increased level of support and further enhances our ability to address the requirements of our clients’ evolving needs in Nigeria. It is an acknowledgement of the ability of our pre-sales, sales, and client support teams to design, quote, deploy, and support Cisco solutions.”

Smile to Reward Excellence in Public Sector with New Campaign

Smile Communications, the leading 4GLTE telecommunications company, has announced a new campaign tagged #SmileSalutes, aimed at recognising and rewarding excellence among workers and teams within the public sector in Nigeria.

The #SmileSalutes campaign is a testament to Smile Communications’ commitment to supporting and acknowledging the hard work and dedication of public officers who strive to make a positive impact on society. Through this initiative, Smile Communications aims to encourage ordinary citizens to nominate deserving

public officers or teams for their outstanding contributions to their communities.

Giving details of how the campaign works, the telecoms company, in a statement, said individuals could nominate any hardworking public officer or team within Nigeria by simply posting their nomination on social media platforms such as Instagram (IG), X and Facebook (FB) using the hashtag #SmileSalutes. Additionally, nominees are encouraged to rally support from their networks, including friends and associates, who can show their appreciation by

engaging with the nomination post through likes, comments, shares, and other interactions. Head of Marketing Operations at Smile Communications, Goke Olaleye, said: “We are excited to launch the #SmileSalutes campaign to shine a spotlight on the remarkable work being done by public officers and teams across Nigeria,” said “Through this initiative, we hope to inspire a culture of excellence and appreciation within the public sector while fostering positive relationships between citizens and government officials.”

Airtel Hosts Interactive Session in ICT for Secondary School Girls

As part of its commitment to empowering and mentoring women to become global leaders while breaking stereotypes and closing gender gaps, the Airtel Women Network, a platform comprising female employees of Airtel Nigeria, welcomed girls from Airtel’s adopted school, Alaba Oro Comprehensive Senior High School, Ajegunle,, to commemorate International Day of Girls in ICT recently.

Led by the telecoms company’s IT Director, Kemi Ariyo, the session emphasised the need for the rise of influential female role models in driving progress within Science, Technology, Engineering, and Mathematics (STEM) careers.

It also served as an avenue to inspire young girls about the vast opportunities within the Information and Communication Technology (ICT) field.

During the session, Director of Enterprise and President of the Airtel Women Network, Ogo Ofomata, shared insights on the significance of the 2024 commemoration with the students.

“Leadership entails leading yourself to do the things you have to do. With regard to the theme of this year’s International Girls in ICT Day, which is Leadership, our goal is to empower young girls and women to become programmers, coders, designers and to pursue careers in the ICT sector, ultimately

becoming leaders in the IT sector,” she said.

The highlight of the event was a thought-provoking session led by IT Director at Airtel Nigeria, Kemi Ariyo, emphasising the importance of technological knowledge in addressing various global challenges. Also speaking at the event, Chief Financial Officer, Airtel Nigeria, Phanindra Nichanametla restated Airtel’s tagline ‘A Reason to Imagine’, reassuring the students of Airtel’s commitment to encouraging positive imagination. “A very important note to take home from this event is that Airtel is here to change your imagination and give you opportunities to imagine more,” he said.

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA:

Date: All fund prices are quoted in Naira as at

May-2024, unless otherwise stated.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

Chisco Transport Chairman Backs Mbah’s Modern Bus Terminal Projects

Oluchi Chibuzor

The Chairman/CEO of Chisco Transport, Chidi Anyaegbu, has commended the Dr. Peter Mbah Administration in Enugu State for its effort to reposition the transport and logistics sector in the state, including the administration’s plans to build modern transport interchanges or bus stations in various parts of the state, stressing that “transport is life.”

Anyaegbu noted that as a political leader, who came from the business world, he had an unwavering conviction that the governor would drastically change the fortunes of the state for good.

The business mogul stated

this while fielding questions from Government House Correspondents during a visit to Mbah yesterday, urging the residents and people of the state to continue to accord the governor their total support. “I came for a private visit to the Executive Governor of Enugu State. We had a good discussion and I can say that the Executive Governor has a very good intention of how to develop the state, which I also know because he came from the business sector or business environment. He understands how to add value to what he met,” he said.

Speaking on Governor Mbah’s modern transport interchange plans, Anyaegbu

said, “His plans are very good. Transport is life, I have been in Transport for 46 years. I know what transport is. I understand that transport adds a lot to the economy. And which I will repeat myself again, after listening to the Executive Governor, I know he has good plans about this and this is why I am telling you that when you give him time, in very short time, Enugu people will see a lot of improvement under his administration.”

“He has a lot of plans on logistics and how to develop Enugu State in the area of logistics and every other area he has plans for. I am convinced that all his plans will come to fruition,” he stated.

Ukrainian Firm Bids to Invest in Nigeria’s Energy Sector

A Ukrainian company has offered to generate between 350-500 megawatts of renewable energy in solar and wind technology in Nigeria which will transform it into a power efficient nation.

The Director EDS Ukraine Power and Engineering, Olexandr Zapyshnyi made the offer in Abuja at a media briefing organised by the Ukraine-Nigeria Business Council to present the firm to the government of Nigeria. Zapyshnyi, who was accompanied by the Second Secretary of the Embassy of Ukraine

Davyd Hohiia and the Head of the Nigerian Office, Ukrainian Chambers of Commerce and Industry, Olena Nedryhailo said the company was generating about 40 megawatts of its own in Ukraine and was interested to provide the investment in Nigeria.

He said the company had for 15 years been working in different fields of renewable energy and thermal energy and remained operational in Ukraine in spite of the ongoing war with Russia.

The President UkraineNigeria Business Council, Mr Ben Gbade-Ojo, who attributed Nigeria’s industrial

and economical challenge majorly to poor electrical power supply, said EDS should be commended for starting its African investment and roll out of technology and expertise in Nigeria.

He said that the firm planned to immediately initiate its enterprise first in the FCT and Lagos with other states to follow.

The Ukrainian- Nigerian Business Council also urged the federal government to carry out a comprehensive audit of all power infrastructure assets in the country to ensure improvement in power supply.

FG OpensTalks withVendors for Supply of 85,000 Farm Equipment

James Emejo in Abuja

The federal government has opened discussions with Chinese agricultural/construction machinery vendors to boost the current administration’s agricultural transformation agenda as well as achieve food security.

This followed a closed-door session between top officials of Federal Ministry of Agriculture and Food Security led by Director, Mechanisation Department, Mr. Sule Majeed, and officials of Tee-Pama Nigeria Limited, vendors of the Chinese YTO Group Corporation in Abuja.

Addressing journalists after the meeting, the ministry’s Head, Procurement and Administration Department, Mr. Akintunde Akinkumi, said the government remained committed to fostering partnerships to effectively drive the agriculture mechanization in the country. He said under the partnership agreement, Chinese Group will through their local

partner, supply 85,000 farming and construction machineries and implements to boost the current administration’s Renewed Hope agenda, particularly in revolutionizing the sector.

He told THISDAY that the supply would be carried out within two years with back up components and spare parts to be distributed to the 774 Local Government Areas with one- or two-years warranty to the federal government.

Akinkumi said, “A large number of YTO tractors samples were to be procured by the federal government for about five state governments which included Kaduna, Zamfara, Kano, Ebonyi among others, as the preliminary phase for the implementation of the Agricultural Mechanisation System (AMS).

“The outstanding performances of the YTO tractors led to the tripartite Memorandum of Understanding (MoU), among the federal government, states and

YTO CAMACO in 2016 for the supply of 80,000 YTO tractors.

“Although the MoU could not be fully realised due to the recession in Nigeria at that period, nonetheless the preliminary tractors supplied have maintained their performances.”

During the meeting, Niger State Commissioner of Agriculture, Hon. Salihu Bosso said the government was cultivating 250,000 hectares of land across the state in the first year of the present administration stressing that the state would become the agriculture food hub in Nigeria in the next few years.

Bosso said, “We are happy that we are here to collaborate to ensure that we redirect the minds of our people into agriculture. His Excellency, the farmer Governor Mohammed Umaru Bago is committed to solving the critical problems bedeviling the society using agriculture as a strategy to ensure that our people can feed themselves all-round the year.”

Dada Emerges President of Chartered Institute of Stockbrokers

In line with its seamless succession policy, and brand positioning, Chartered Institute of Stockbrokers (CIS), has elected a core finance professional, Mr. Oluropo Dada, as its 13th President and Chairman of the Governing Council.

Dada’s election was announced in a statement, signed by the Institute’s Registrar and Chief Executive, Mr Josiah Akerewusi, after the Annual General Meeting (AGM) today. Dada, the Institute’s former 1st Vice

President, succeeded the erstwhile President, Mr. Oluwole Adeosun, whose tenure was characterized by many laudable achievements.

Under the new change of baton, the Institute’s 2nd Vice President, Mrs Fiona Ahimie, has also emerged the 1st Vice President.

By the Institute’s tradition, Dada shall be formerly decorated with the paraphernalia of office in a high profile event called investiture at a later date.

Earlier in his Statement, during the Annual General

Meeting, Adeosun thanked all members of the Institute’s working committees and staff of the secretariat for their commitment and excellent job during the review period, saying: “ I re-affirm that the Governing Council and Office Holders shall continue to work hard towards getting the Securities and Investment profession registered family in the hearts of young Nigerian scholars as their career of choice, and CIS as the model for other professional bodies to follow.”

Arabia), Murban (UAE) and Merey (Venezuela)

L-R: Research Analyst, Fund Managers Association of Nigeria (FMAN), Mr. Chidi Emenike; Administrative Officer, Securities and Exchange Commission (SEC) Lagos Zonal Office, Mrs. Amaka Okechukwu; Manager, Monitoring Unit, SEC Lagos Zonal Office, Mrs Uroro Obaji; Chief Operating Officer, FMAN, Mr. Oludare Moses-Adenekan Administrative Officer, FMAN, Ms. Gift Imoukhuede and Administrative Assistant, FMAN, Ms. Felicia Samuel during a discussion on capital market inclusion in Lagos…recently

Olawale Ajimotokan in Abuja

NGX, Others Collaborate to Deepen ETF Market

Kayode Tokede

In line with its mandate to develop and deepen the Exchange Traded Fund (ETF) market, Nigerian Exchange Limited (NGX) in collaboration with Vetiva Capital Management Limited organized a capacity-building webinar to equip stakeholders with requisite knowledge of the ETF market.

The virtual event held recently and themed ‘Unlocking ETF

Opportunities in Nigeria: Structuring and Application Process was designed to provide participants such as Brokers, Asset Managers, and other operators and intermediaries in the Nigerian Capital Market, with a comprehensive understanding of ETFs.

Additionally, the webinar aimed to provide insights on structuring exchange-traded funds (ETF) and the necessary documentation required for ap-

plication to the Securities and Exchange Commission (SEC)

In his opening remarks, the Acting CEO of NGX, Mr. Jude Chiemeka noted that over the years, ETFs have gained more acceptability among institutional and retail investors worldwide due to their cost-effective approach to providing exposure to a diverse array of underlying asset classes.

“Since the inception of ETFs in Nigeria in December 2011, the market has grown steadily, with

a total market capitalization of N35.76 billion as at April 2024.

“The Exchange currently offers 12 ETF asset classes, consisting of equity-based commodity and bond ETFs, providing investors with limitless opportunities to diversify their investments. We aim to further deepen the ETF market by providing an attractive environment to support listing additional ETFs, hence providing more investible products for investors. “

According to ETFGI, the global ETF industry is on an impressive growth trajectory, surpassing the $13 trillion mark in assets under management as of March 2024. This dynamic industry now encompasses over 12,127 products, listed on 80 exchanges across 63 countries, and provided by 741 ETF providers. Notably, March 2024 saw ETFs attracting net inflows of $144.94 billion, indicating a rising appeal to institutional and retail investors.

In March, Equity ETFs saw significant net inflows of $94.62 billion, contributing to a yearto-date (YTD) total of $235.75 billion. This marks a remarkable 678 percent increase compared to the same period in 2023 when net inflows stood at $30.31 billion. Meanwhile, Fixed-income ETFs have accumulated net inflows of $61.85 billion YTD 2024, while Commodity ETFs have reported net inflows of $1.15 billion over the same period.

PRICES FOR SECURITIES TRADED ASOF MAY 08 /24

Gamin G Week

Edited by nseobonG okon-ekonG | gamingweek1117@gmail.com

| Tel: 08114495324

How May

Day Theme, ‘People First’,

Resonates with Gaming Industry

Nseobong Okon-Ekong extracts comments on the theme of this year’s International Workers’ Day celebration, particularly from the incoming leadership of the National Union of Gaming and Lottery Workers (NUGLOW) led by Comrade David Omaghomi

In commemoration of this year’s International Workers’ Day celebration on the First Day of May, organized labour held solidarity rallies and other activities across the country to draw attention to the welfare of workers. All stakeholders centred their engagement on the theme for this year’s celebration, ‘People First’.

President Bola Tinubu assured the organised labour that their understanding, patience, commitment and support in the course of implementing his administration’s policies and programmes are not taken for granted.

He applauded the Nigerian workers for their contributions to ongoing efforts by the government to save the nation’s economy, describing them as “an indispensable component of the nation’s engine,” in the bid to build a just and progressive society.

Speaking through Vice-President Kashim Shettima who represented him at the event at the Eagle Square, Abuja, Tinubu commended the choice of the theme for this year’s May Day celebration, ‘People First’, saying it did not only resonate with his administration’s agenda, but also

demonstrates that “the working class holds a central position in the affairs of this nation.” The president’s address was titled, ‘Solidarity in Action: Collaborative Governance, Empowered Workers’.

Noting that it was the first May Day under Tinubu, the Minister of State for Labour and Employment, Hon Nkeiruka Onyejeocha, pointed out that the president “believes that every worker deserves to work in an environment free from exploitation, discrimination, and oppression,” noting that the government is “creating workplaces that offer respect, job

security and inclusivity for all.”

NLC president, Comrade Joe Ajaero, and TUC President, Comrade Festus Osifo, said, “Leadership is about the people. There is no other measure for success in government except its impact on the lives of the people.”

They urged the government to swiftly conclude negotiations on a national minimum wage that reflects economic realities for Nigerian workers.

“People should be at the heart of every policy. Without making them. the centre of every government policy, the society suffers adversely,”

Ajaero said. Incoming President of the National Union of Gaming and Lottery Workers (NUGLOW), Comrade David Omaghomi, said the theme of this year’s Workers Day celebration resonates well with workers in the gaming industry in Nigeria. The gaming ecosystem which contributes in no small measure to good causes and the GDP of the country is powered by people, regardless of the technology, it is people who administer tickets. It is workers who ensure casinos are open. It is people who work as operators, as regulators, who do monitor to ensure the gaming ecosystem is sanitized. It is people who play the games. Regardless of every other aspect of the industry, it is people that matter most. This year’s theme resonates aptly as the people in the gaming industry matter most.

Omaghomi said, “Since the last May Day, we have recorded very remarkable progress in our relationship with operators and regulators. We have also been able to attend two stakeholder dialogue sessions; one organised by the National Lottery Regulatory Commission (NLRC), as well as the Africa Gaming Expo Lagos, which was organised by the Lagos State Lottery and Gaming Authority. Both events gave us room to meet with other stakeholders and sell the values of the gaming and lottery workers union to the workers in the industry. We received lots of new members into our fold.

Omaghomi added, “We believe that with such progress, as we soon announce the date for our national delegates conference, which is meant to elect new leaders into the union, this engagement will help us see participation from more operators and more regulators across the country. This has been one of our worthy achievements and it led to a higher turnout during the May Day rally of this year in Abuja, Lagos, Delta and Edo states, we had members of the National Union of Gaming and Lottery Workers in their numbers.”

Taking a peep into the future, the leadership of NUGLOW foresees improvement in the condition of workers in the days ahead.

“The level of sensitivity to the light of workers in the gaming industry has increased. There is better understanding now by the regulators and the operators alike that the union is not there to antagonize anyone, but rather to protect the ecosystem, to protect businesses, to help in managing the lowest but most important layer of the ecosystem, which is

the workers, with improved working conditions. There is also the drive for a new minimum wage across the country. It also means that the workers in the system will get better results and with a more satisfied workforce, there are more sustainable businesses. Not just for the workers, I foresee improvement in the gaming environment as a whole.”

For now, Omaghomi would not be persuaded to name operators that have been outstanding in their welfare package for workers. He said, “We only name them after our national delegates conference, so we do not pre-empt some regulators or operators to think we are promoting any particular one. However, there has been an improvement in welfare packages by most operators. I don’t want to mention any particular one. After our delegates conference, we will provide this information.”

Once the NUGLOW leadership team is properly inaugurated, it is set to go full blast with plans to protect the job and contracts, while instituting micro pension schemes, health insurance; giving workers industry protection from harassment by security agents or touts, as well as prevention against double taxation.

One of Omaghomi’s lofty dreams is the gaming workers’ institute.

“Once we get the necessary accreditation and regulatory support, we will be introducing it to ensure that workers are now able to undertake programmes that will better position them to offer excellent service delivery regardless of where they belong,” he explained.

“We are also engaging with labour centres owned by government. It means that the minimum wage that operators and/or sub-agents will give to their workers will also increase.”

Omaghomi commended the contribution of GAMING WEEK, the media platform for collating news, events and features on the industry.

He said, “We want you to continually shine the light on the existence of workers in the industry and their very important role to its development. We will be sharing details of the forthcoming national delegates conference for wider visibility, so that more operators and regulators can send in their delegates to come forward and take elective positions; be part of the incoming leadership of the union and also participate as we work together to develop the ecosystem.

David omaghomi, incoming President, national Union of Gaming and Lottery Workers (nUGLoW) with hand raised flanked by members of his union at this year’s may Day rally

Enhancing Betting Experience: Integration of Live Stats and Analytics

In the fast-paced world of sports betting, staying ahead of the game is essential. To meet the evolving demands of bettors, sportsbooks have begun integrating live in-game stats and analytics directly into their platforms. This technological advancement revolutionizes the way bettors engage with sports events, empowering them to make more informed decisions and enhancing their overall betting experience, writes Davidson Abraham

In the fast-paced world of sports betting, staying ahead of the game is essential. To meet the evolving demands of bettors, sportsbooks have begun integrating live ingame stats and analytics directly into their platforms. This technological advancement revolutionizes the way bettors engage with sports events, empowering them to make more informed decisions and enhancing their overall betting experience, writes Davidson Abraham

Gone are the days when betting decisions relied solely on gut feelings or historical data. Today, bettors have access to real-time information that provides invaluable insights into the dynamics of the game. By integrating live stats and analytics, sportsbooks offer bettors a comprehensive view of the action as it unfolds, enabling them to assess trends in momentum, team performance, and player statistics.

One of the primary benefits of integrating live stats and analytics into betting platforms is the ability to observe shifts in momentum during a game. Momentum swings play a crucial role in determining the outcome of sporting events, and bettors who can accurately predict these shifts gain a significant advantage. With live stats updating in real-time, bettors can identify momentum changes as they happen, allowing them to adjust their bets accordingly.

The integration of player statistics enhances the betting experience by offering bettors deeper insights into individual performances. By tracking key metrics such as points scored, rebounds, assists, and shooting percentages in real-time, bettors can assess the impact of each player on the outcome of the game. This level of detail enables bettors to make more nuanced bets, such as predicting player performance in specific game situations or betting on player prop bets.

Furthermore, the availability of live

stats and analytics enables bettors to implement more sophisticated betting strategies. Instead of relying solely on pre-game analysis, bettors can now adjust their bets based on evolving game dynamics. For example, if a team that was trailing at halftime starts to gain momentum in the second half, bettors can capitalize on this shift by placing live bets that reflect the changing odds. This real-time engagement enhances the thrill of betting, as bettors feel more connected to the game and the outcomes of their bets.

From a strategic standpoint, the availability of live stats and analytics enables bettors to implement more sophisticated betting strategies. Instead of relying solely on pre-game analysis,

bettors can now adjust their bets based on evolving game dynamics. For example, if a team that was trailing at halftime starts to gain momentum in the second half, bettors can capitalize on this shift by placing live bets that reflect the changing odds.

Moreover, sportsbooks can leverage live stats and analytics to offer bettors a wider range of betting options. In addition to traditional bets on the outcome of the game, bettors can place bets on various in-game events, such as the next team to score, the total number of points scored in a quarter, or even individual player performances during a specific timeframe. This diversification of betting options caters to a broader range of bettors and enhances the overall

“Good causes are projects meant to promote social inclusion for all Nigerians. These projects cut across health, education, social services, welfare, relief and disaster management. Good causes are meant to bring support to needy Nigerians. We have to target the poorest of the poor who are vulnerable and require the support of the National Lottery Trust Fund to make life better for them. This is why this current administration, led by President Bola Tinubu through the Renewed Hope Agenda, has directed the agency to work on specific special interventions for women and children. The reason for that is to see how we can grow our economy around our women and our youths, who, of course, remain the most vulnerable and who are the least employed in our job market. If you empower women, they are likely going to empower our nation through resilience and through some of the businesses that they do on a daily basis. If you loan money to a woman, she is likely going to multiply it and make it bigger. That will also enhance the welfare of that family, and eventually, the nation will grow from it. The same thing if you empower a youth; they are the engine room of growth of any economy in the world. They constitute the largest demography in our population. If you empower them through scholarships, loans and capital, they are going to drive and re-energise the economy of this nation.”

– Dr. Bello Maigari, Executive Secretary, National

Lottery Trust Fund

betting experience.

While the integration of live stats and analytics offers numerous benefits, it also presents challenges. Maintaining real-time data feeds and ensuring the accuracy of the information requires robust technological infrastructure and data management systems. Sportsbooks must invest in cutting-edge technology and employ data experts to manage and analyse the influx of real-time data effectively.

Additionally, there are concerns about the potential impact of live stats and analytics on the integrity of sports events. The availability of real-time data could potentially be exploited by individuals seeking to manipulate the outcome of games for their financial gain. Sportsbooks must implement stringent security measures and collaborate with regulatory bodies to safeguard the integrity of sporting events and protect bettors from fraud.

In conclusion, the integration of live stats and analytics into sports betting platforms represents a significant advancement in the industry. By providing bettors with real-time insights into game dynamics, team performance, and player statistics, sportsbooks enhance the betting experience and empower bettors to make more informed decisions. While challenges exist, the benefits of integrating live stats and analytics outweigh the risks, paving the way for a more immersive and engaging sports betting experience.

Courtesy: Digitain

SOLAR PANEL MANUFACTURING CONTRACT...

L-R: Managing Director, TRANOS, Mr. Jude Abalaka; Director, JVG, Mr. Patrick Thoma; and Director, TRANOS, Mr. Babatunde Edun, at the signing of the contract between TRANOS and JVG for the supply of equipment for TRANOS’ 400MW Solar Panel Manufacturing Factory, in Germany...recently.

Oborevwori Tells Okuama People: You Can Now Return to

Home as Military Pulls

Out

Commends President Tinubu Delta villages allege being overrun by kidnappers

Sylvester Idowu in Warri

Delta State Governor, Hon. Sheriff Oborevwori, yesterday, directed the people of Okuama community in Ughelli South Local Government to return to their homes

The directive, according to him, was after many deliberations and collaborations between the state government and the military leadership and the resolve of the Nigerian Army to withdraw its officers and men from Okuama.

He, therefore, expressed appreciation to President Bola Tinubu and the military high command on the withdrawal of troops from the troubled Okuama community.

But villages in Ika North East and Ika South Local Government Areas of the state have lamented the rise in cases of kidnappings within their territories, noting that they could no longer visit their farms owing to fear.

Oborevwori, in a statement yesterday stated that he spoke with the Chief of Army Staff, Lt. Gen. Taoreed Lagbaja on Monday and that, as of 8 of May, 2024, the military had withdrawn from Okuama.

“With this development, the people of Okuama can now safely return to their homes and begin the process of reintegration and rebuilding their homes," he said.

Oborevwori expressed gratitude to the President, Bola Tinubu, the COAS, and the hierarchy of the Nigerian Army for their understanding and cooperation.

"In my engagements with them, they demonstrated the highest level of concern and care for the plight of the displaced persons. To God be the glory that we have achieved an amicable resolution," he said.

He also expressed appreciation to the members of the National Assembly, Nigerians, traditional rulers, and other leaders of thought who stood with Delta during her travails, adding: "Your words of encouragement and prayers are greatly appreciated."

The governor assured all Deltans and residents in the state that his administration was irrevocably committed to enhanced peace and security in the state as contained in his MORE agenda.

“It is also pertinent to point out that matters of security are better handled with tact, wisdom, and

patience; it is not meant to be a subject of daily media discuss as some would have wanted.

“As the people of Okuama start the process of returning to their homes, I pledge the commitment of the Delta State Government to make that process smooth and seamless," he assured.

THISDAY gathered that the military pulled out of the community on Tuesday.

Meanwhile, the Delta communi-

ties, in a statement by the Secretary General of the International Law Association, Nigeria Branch, Mr. Clement Osuya, lamented that those living in Boji Boji Owa and Agbor in Ika South local government area of Delta State, along with the neighbouring villages were facing a dire humanitarian crisis.

While urging the Delta State government and security agencies to come to their rescue, the communities said the situation, has

become highly dire, as kidnappers were not only abducting individuals, but also murdering families that were unable to pay the ransom.

“These areas have been overrun by a wave of kidnappers who are causing terror among the citizens by breaking into their homes, carrying out abductions, and committing violent crimes.

“The situation has become highly dire, as the kidnappers are not only abducting individuals but

also murdering families who are unable to pay the ransom.

“This has caused the local residents a deep sense of fear and insecurity, compelling them to abandon their farms and restrict their movements.

“Consequently, agricultural productivity and economic activities in the region have drastically decreased, resulting in a severe food shortage and a possible humanitarian crisis," it stated.

NAPTIP Says Police Need Broad Understanding of Issues Around SGBV for Successful Prosecution

The Director-General, National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Prof. Fatima Waziri-Azi, has said for successful prosecution of sexual and gender violence in the country, the police need a broad understanding of issues surrounding it.

Speaking in Abuja on Wednes-

day at a 3-day training for 30 Federal Capital Territory (FCT) Police Gender Desk Officers and Police Prosecutors on Handling Sexual and Gender-Based Violence Cases, a programme funded by the Ford Foundation, in partnership with the Nigeria Police Force, NAPTIP and Justice Research Institute (JRI), Waziri-Azi said “Police officers, especially gender desk officers, need continuous

Senator Jimoh Ibrahim Asks Court to Nullify Gov Lucky Aiyedatiwa’s

Accuses APC of failing to comply with Electoral Act, own guidelines

Alex Enumah in Abuja

An aspirant in the forthcoming governorship election in Ondo State, Senator Jimoh Ibrahim, has asked a Federal High Court, Abuja, to nullify the April 20, primary election that produced incumbent the governor, Mr. Lucky Aiyedatiwa, as candidate of the All Progressives Congress (APC). Ibrahim hinged his request on the grounds that the primary election for the selection of the APC standard bearer was done with substantial non-compliance with the Electoral Act, 2022, as

well as the APC constitution and guidelines for selecting candidates for elective positions. In the suit marked: FHC/ABJ/ CS/588/24 and filed by his team of lawyers led by Chief Chris Uche, SAN, the plaintiff, described the APC primary election that held on April 20, as a sham, adding that the primary was deliberate skewed to favour the incumbent governor.

The APC, Aiyedatiwa and the Independent National Electoral Commission (INEC) are 1st, 2nd and 3rd defendant respectively, in the suit filed on May 3.

In an affidavit deposed to in support of the suit, Senator Ibrahim submitted, "That the results of the Governorship Primary Election Committee used in declaring the winner were not product of collation of results by the Local Government Electoral Committee at the designated Collation centres.

"That being in a hurry to generate and allocate scores to aspirants according to their preference, 1st Defendant’s agents allocated total number of votes higher than total number of accredited members in a number of Ward, which incident

of over-voting spreads across the 18 Local Governments and occurred in more than 100 wards which include but not limited to Wards 3,4, 5, 6, 7, 8, and 10 of Akure South; Wards 3, S, 7, 8, 10 of Owo Local Government; Wards 1, 3, 5, 8, 9, 10 Ose Local Government; Wards 1,2,5,7, 11, 14, 15 Akoko South West; Wards 3,4,5,6,8,10 Ondo West, Wards 1 -10 Akoko North West.

"That by the Guidelines, these incidents of over voting in the above wards vitiate the results generated and declared in those wards by the 1st Defendant."

training to understand relevant laws, protocols, and investigative techniques to gather evidence, conduct interviews, and handle the legal aspects of SGBV cases effectively.”

She added that: “Investing in comprehensive training for police officers on handling SGBV cases is essential for promoting accountability, preventing further victimization, and advancing justice for victims.

“As the implementing agency for the Violence Against Persons Prohibition Act, 2015 in the FCT, NAPTIP has been collaborating and would continue to collaborate with the Nigeria Police to ensure that incidences of domestic and sexual violence are reduced in the FCT”.

She explained that the training is aimed at enhancing the strategic efforts of the police gender desk officers and prosecutors in the prevention of, response to and prosecution of sexual and genderbased violence cases in the FCT.

She recalled that in May 2022, NAPTIP and JRI conducted an intensive 10-day residential training of 40 gender desk officers from the 36 states and the FCT, noting that the training focused on steps in responding to SGBV cases, investigation, communication techniques for successful handling of SGBV cases, and data collection and

management.

On his part, the Executive Director, JRI, Mr. Ikem Isiekwena, said: “The project to strengthen the capacity of the Nigeria Police Force and Federal Capital Territory Sexual and Gender-Based Violence Response Team to effectively respond to violence against women and girls in Nigeria, commenced in 2021 with support from Ford Foundation. This training is one of the outcomes of the project targeted at strengthening the capacity of police to effectively respond to violence against women and girls.”

He added that: “The training would help police officers adopt a victim-centered approach, focusing on the needs and well-being of victims. This approach prioritizes the safety, dignity, and rights of survivors throughout the investigation and legal process.” Resources developed by the project were formally presented and they include: Training Manual on Preventing, Responding and Prosecuting SGBV Cases; Standard Operating Procedure on Preventing, Responding to, and Prosecuting SGBV Cases and a demonstration and handing over of the E-Training Portal for SGBV Courses to enhance the knowledge of police officers on how to prevent, respond, and prosecute gender-based violence.

Michael Olugbode in Abuja

sTL assET MaNaGEMENT LaUNCHEs MUTUaL FUNds…

L-R: Head of Investment, STL Asset Management Limited, Oluwaseun Magreola: former Director at the Securities and Exchange Commission and Chairman, STL Asset Management Mutual Funds Investment Committee, Mallam Adamu Sambo; Managing Director, STL Asset Management Limited, Ahmed Olaitan Banu; Non-Executive Director, STL Asset Management Limited, Funmi Ekundayo, and Chairman, STL Asset Management Limited, Dr. Temitope Oshikoya at the launch of STL Mutual Funds in Lagos... recently

NEMA: 25 States, 72 LGAs Prone to Flooding this Year

Laleye dipo in minna

At least 25 out of the 36 states in Nigeria would be prone to flooding during this year’s raining season.

This was disclosed yesterday in Minna, Niger State, by the National Emergency Management Agency (NEMA), which added that 72 local government areas would be mostly affected by the flooding out of the 774 LGAs in the country.

The Director General of the NEMA, Ms. Zubaida Umar, disclosed this while handing over the federal government’s approved grains and food items to the Niger State Government in Minna.

Umar said that state governments should begin to take proactive measures to mitigate the effect of the impending flood.

Goldberg Sponsors 10th Edition of AMVCA

sunday Okobi

Goldberg, Nigeria’s iconic lager beer, has proudly announced its sponsorship of the 10th edition of the Africa Magic Viewers’ Choice Awards (AMVCAs) scheduled on May 10th and 11th, 2024, at the Eko Hotel and Suites, Lagos.

This prestigious event celebrates the excellence and innovation of African storytelling, and Goldberg’s involvement underscores its unwavering commitment to supporting and nurturing African culture.

A key highlight from this

sponsorship is Goldberg rewarding the best-dressed male and female attendees at the AMVCAs’ Cultural Night event, slated to be held at Eko Hotel & Suites on Friday, May 10, 2024, with N1 million each.

As the Omoluabi brand from Nigerian Breweries stable, Goldberg has consistently championed a vibrant and dynamic cultural scene, sponsoring various events such as music concerts, comedy shows, cultural festivals, and even making its presence felt in the Nigerian football space with the Super Eagles.

Kebbi Gov Appoints Ex-Gov Dakingari, Amirul Hajj

Onuminya innocent

The Governor of Kebbi State, Nasir Idris, has approved the appointment of a former Governor Saidu Dakingari as 2024 Amirul Hajj and leader of the state delegation for the Hajj exercise in Saudi Arabia.

The appointment is contained in a statement signed by the Executive Chairman of Kebbi State Pilgrims Welfare Board, Alhaji Faruku AliyuEnabo, which was made available to newsmen in Birnin Kebbi.

The Executive Chairman said that the Permanent Secretary in the State Cabinet Office, Alhaji Malami Shekare-Muhammad

would serve as Secretary of the delegation.

The statement further said that Justice Umar Abubakar would serve as Deputy Amirul Hajj for the exercise.

Aliyu-Enabo listed members of the delegation to include: Abubakar Mohammed-Kana, Alhaji Usman Baraya, Muhammad Bello-Yakubu, Abubakar Aminu-Gulumbe, and Abubakar Sulaiman-Fana.

Others are: Garba Abubakar Talba, Mohammad MusaTungulawa, Justice Suleiman Ambursa (rtd), Muhammad Fanna-Zaruma, Aishatu AbubakarGunabi and Rufa’i Aliyu-Yauri.

Emore Grammar School Old Students Inaugurate Corpers’ Lodge

The Corpers’ Lodge built and equipped by the Lagos branch of the Emore Grammar School, Oleh Old Students Association will be inaugurated tomorrow, Friday, May 10, 2024 at 11.00 a.m by the Delta State Co-ordinator of the National Youth Service Corps (NYSC) Mr. Olusegun Aleo as special guest of honour.

According to a statement by Chairman of the Commissioning Committee, Comrade Emmanuel Ekebe, the event will take place at the School Ground, Oleh Headquarters of Isoko South

Local Government Area.

The event will be chaired by Grand Patron of the Isoko Development Union (IDU), who is also a pioneer student of the school, Isoko High Chief Iduh Amadhe, South Local Government Area.

The statement also disclosed that the Corpers’ lodge is being named after the pioneer principal of the school, the Late Dr. Obaro Aso, while the Odiologbo of Oleh, His Royal Highness Williams Ovrawah, Omogha 1 will be the Royal Father of the day.

She informed Governor Mohammed Umar Bago that 12 out of the 25 local government areas in the state are very prone

to the flood.

“This year’s high probable flood risk areas in Niger States are Agwara Bida, Magama,

Munya, Agaie, Shiroro, Bosso, Kontagora, Gujarat, Chanchaga ( Minna) Rafi and Lavun local government areas “

Umar called on Niger State’s governor to take proactive and necessary mitigating measures in addressing the issue.

NAFDAC Assures Nigerians of Drop in Cost of Medicines, Frowns on Spiral of Fake Drugs

ayodeji ake

The Director-General of, the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye, has assured Nigerians that the current high cost of medicines in the country will become a thing of the past as the agency in partnership with the pharmaceutical industry working hard to bring down the cost of drugs, just as it frowns at the polarisation of fake medicines in the market

various policy measures already put in place by the President Bola Tinubu administration would soon begin to reflect positively on the cost of essential medical commodities.

Speaking in the same vein, the Coordinating Minister of Health and Social Welfare, Prof Ali Pate, also assured Nigerians that the

The duo made the assertions at the webinar lecture organised by The Cable Newspaper to celebrate its tenth anniversary with the theme: ‘Addressing Costs of Medicines’.

Prof Adeyeye identified the rejuvenation of the local pharmaceutical industry as a panacea for the high cost of medicines in the country. She said locally manufactured medicinal products would be more accessible and affordable than imported drugs.

EFCC Arraigns Ex-court Registrar over N3.8m Fraud

Onuminya innocent

The Economic and Financial Crimes Commission (EFCC) has arraigned a former Registrar of the Upper Sharia Court 1 Gusau, Zamfara State, Mr. Abubakar Garba Dandare, on a two-count charge for allegedly stealing the

sum of N3, 837,634.

Dandare’s arraignment was sequel to the offence he allegedly committed while as registrar, Upper Sharia Court 1 Gusau, Zamfara State.

He was arraigned before Justice Bello Muhammad Shinkafi of the Zamfara State

High Court.

The anti-graft directorate explained that the problem of Dandare began when a petitioner alleged that he dishonestly misappropriated the money being retention fee paid by the Ministry of Finance Zamfara State for the family of late Alhaji Ladan Mada, who was a contractor to the state government.

Mada, who died on May 13, 2010, was awarded a contract by the Zamfara State Government for the construction of two student hostels at Government College, Talata Mafara.

Boundary Demarcation: Stop Attacking Our Officials, Ekiti Warns

Gbenga sodeindeinadoEkiti

Following recurrent cases of attacks being suffered by government officials while demarcating boundaries in towns locked in land tussles, the Ekiti State Government has declared that it is illegal for anyone to harass

officials while performing their statutory duties that are in the interest of the state.

Describing such unwholesome conduct as an affront on the state, the government, said perpetrators of such dastardly act would no longer be tolerated nor spared from sanctions.

The Ekiti State Deputy Governor, Mrs. Monisade Afuye, handed down the warning yesterday while interfacing with stakeholders from Efon and Ipole Iloro Ekiti to settle the dispute arising over the ownership of Iwaji community.

In a statement that was signed

by her Special Assistant on Media, Victor Ogunje, Mrs. Afuye recounted how members of the Boundary Commission Technical Committee dispatched to Iwaji community to delineate the boundary narrowly escaped being attacked by irate youth a couple of months ago.

Abiodun Makes Case for Ogun Division of Court of Appeal

James sowole in abeokuta

The Ogun State Governor, Mr. Dapo Abiodun, has solicited the creation of the Ogun Division of the Court of Appeal to aid quick dispensation of justice in the state.

Abiodun made the request

yesterday when he received in his office at Oke-Mosan, Abeokuta, the President of the Court of Appeal, Justice Monica Dongban-Mensem.

He said that the setting up of the Ogun Division of the court, would ease the work load of judges in the Ibadan Division.

“My plea is that this initiative that you have resuscitated, perhaps we can have it repeated periodically and this will be as a precursor to the request that we made sometimes in 2020 when I wrote to the then President asking that he should please

consider setting up the Ogun State Division of the Court of Appeal and I think that request is strengthened by your trip here because you also alluded to the fact that when you were in Ibadan Division, most cases were from Ogun State,” the governor said.

Alleged Perjury: IG to Arraign Two Directors of Fenchurch Energy Today

Wale igbintade

The Inspector General of Police (IG) has filed a two-count charge of conspiracy and perjury against a limited liability company, Fenchurch Energy Nigeria Limited, and two of its Directors, Babafunsho Adeyemi and Olufemi Bakare. The three defendants will be

arraigned today before Justice Daniel Osiagor of the Federal High Court in Lagos.

In the two-count charge number FHC/L/265C/2024 filed before the court by the combine team of Police Prosecuting counsel from Legal/ Prosecution Section, Kafaru Tinubu House, and Force Headquarters Abuja, Kyije Roland Abang and Chibuike

C.Amuka, the defendants, were alleged to have conspired together to commit perjury.

According to the charge, the defendants, Babafunsho Adeyemi, Olufemi Bakare, and their company, sometime in February 2023 conspired together to commit perjury when they, in order to mislead the court, allegedly stated on oath in suit number: FHC/L/

CS/319/2023 in paragraph 24 of their affidavit deposed to before the court that “the shareholding of the 1st Plaintiff/ Applicant and Bastanchury Limited in the 1st defendant as altered by the Shares Subscription Agreement dated March 15, 2019, ought to be registered at the Corporate Affairs Commission with the relevant documents and filings made thereon.

Otti Vows to Revive Osisioma Industrial Layout, Flags Off Strategic 3.5km Road

Emmanuel Ugwu-Nwogo in umuahia

Abia State Governor, Mr. Alex Otti, has said that the moribund Osisioma Industrial Layout would be reactivated in the next 12 months with the

reconstruction of the arterial road leading to the estate, NNPC Depot and beyond.

Otti gave the assurance yesterday when he flagged off the reconstruction of the 3.5km Osisioma-Ekeakpara Road, which links the industrial layout to Rivers, Imo and other neighbouring states.

He said that the reconstruction of the road was in continuation of the ongoing consistent efforts of his administration to transform the infrastructural landscape of Aba, the

commercial and industrial nerve centre of Abia. The Osisoma-Ekeakpara Road is considered among the strategic roads in Aba as it provides access to the NNPC Depot, industries and other business outfits in the industrial layout.

IMPROVED HEALTHCARE ON THEIR MINDS…

L-R: Head of Operations, Leadway Health HMO, Dr. Gideon Anumba; Special Adviser (Health) to Governor of Lagos State, Dr. (Mrs.) Kemi Ogunyemi; Co-Founder and Chairman, Marcelle Ruth Cancer Centre and Specialist Hospital, Mr. Bolaji Odunsi; Co-Founder and CEO, Marcelle Ruth Cancer Centre and Specialist Hospital, Dr. Modupe Elebute-Odunsi, and Chief Executive Officer of Leadway Health HMO, Dr. Olatokunbo Alli, at the official unveiling of comprehensive healthcare partnership between Marcelle Ruth and Leadway Health HMO in Lagos...recently

Senate Okays Bill, Seeking Protection for Domestic Workers, Employers

Sunday Aborisade in abuja

The Senate yesterday passed a bill seeking proper documentation and protection for domestic workers and their employers in the country.

It would also respect their fundamental human rights and safety of their employers.

The bill, sponsored by Senator

The bill, when signed into law, will serve several purposes, including keeping full records of the identities of domestic workers.

Akume Tells Gov Ododo to Stay Focused

The Secretary to the Government of the Federation (SGF), Senator George Akume, has hailed the performance of the Kogi State Governor, Ahmed Usman Ododo, in his one hundred days in office as the governor of the state, urging him to stay focused on performance and ignore detractors.

Senator Akume gave the commendation when he received Governor Ododo on a courtesy call to the SGF’s office in Abuja

This was contained in a statement signed by the Special Adviser the Governor on Media, Ismaila Isah, and made available to journalists in Lokoja yesterday.

Akume noted with admiration the drive and positive disposition of Governor Ododo to accord topmost priority to the welfare of the people of the state which he said is the hallmark of good governance.

The former governor of Benue State expressed his well wishes to the Kogi State Governor, adding that his record of performance has already set him on a good trajectory as an emerging leader in Nigeria.

“Do not be distracted by criticisms because you have started remarkably well, and I am sure you will continue this way till the end of your tenure in office; may God be with you,” Akume said.

Crisis Rocks Yola Federal Civil Service Club

The federal public servants in Adamawa State have written a complaint letter to the office of Federal Head of Civil Service through the Committee of Heads of Federal Establishments in the state, seeking the conduct of free and fair elections to end the current leadership tussle bedeviling the management of the Federal Civil Service Club in Yola.

Hussaini Babangida-Uba (Jigawa North-West), was titled: ‘A Bill for an Act to Provide for the Documentation and Protection

of Domestic Workers and Employers and for other Matters Connected Therewith, 2024’. Babangida-Uba told his

colleagues that the bill would safeguard the interest of both the domestic worker and the employer by addressing

recurring abuses and tragedies such as home helps killing their employers and disappearing with their valuables.

Ex-Abia PDP Chairman Chides Defectors for Jumping Ship after Destroying Party

Former Chairman of the Peoples Democratic Party (PDP), Abia State, Senator Emma Nwaka, has hit hard at members of the party who are leaving in droves

“after destroying the party.”

He said that the current exodus in the state PDP was symptomatic of a party being undermined by self-centred, fair weather politicians, who are only interested in what they could gain from the party without

House C’ttee Seeks Central

Juliet Akojeinabuja

The House of Representatives Committee on Intergovernmental Affairs has called for the establishment of a central monitoring system for the sports betting industry in the country. The Chairman of the Committee,

making personal sacrifice.

The PDP, which controlled Abia State for over two decades has been battling with the problem of keeping its members together after it lost power to the Labour Party in 2023.

Several party chieftains with their supporters have abandoned the PDP and embraced the All Progressives Congress (APC), the latest being the immediate-past Speaker of the Abia State House of Assembly, Rt Hon Chinedum Orji, who defected last Tuesday.

Monitoring System for Sports Betting in Nigeria

Hon. Canice Moore Chukwugoze Nwachukwu, during its session yesterday said the committee was not going to call for the shutting down of the sector but must ensure it follows laid down rules so it does not become inimical to society.

Nwachukwu said: “We are all Nigerians. We would not go against

people doing their business. The have rights to exercise their franchise. But what we are saying is that we have to play within the rules of the game. We have to arm the system to control and enforce all the provisions that would allow gaming and betting to flow smoothly without becoming a social menace.

“I am not going to be here to say we are going to shut gaming and betting and people operating in that sector. What we would do is to make sure there is a level playing ground whereby all the mechanisms that should be out in place to ensure it does not become inimical to the society.

Adeleke Lauded over Osun Disability Prohibition Bill

Kemi Olaitan in Ibadan

The Special Adviser on Special Needs to Governor Ademola

passage of the Osun State Discrimination Against Persons with Disabilities (Prohibition) Bill, 2024.

Adeleke of Osun State, Hon. Kamil Aransi, has lauded the Speaker of the Osun State House of Assembly, Rt. Hon. Adewale Egbedun, over the successful

According to him, “All we want is for justice and rule of law to prevail. We only want elections-enough is enough. Our mother, the Head of Service, should please come to our rescue as the present interim managers have boasted of connection in Abuja. Do you know that the Federal Civil Service Club has no bank account after generating millions of naira? The monies are paid into personal accounts. This is unacceptable.”

One of the aggrieved federal civil servants called on the Head of Federal Civil Service of the Federation, Dr. Folashade Yemi, to step into the crisis which have turned the federal civil service club into a war zone among workers in Adamawa State over the leadership tussle in the state

Gov Yusuf Earmarks N4bn for Second Batch of Pension, Gratuity

Ahmad Sorondinki in Kano

The Kano State Governor, Alhaji Abba Kabir Yusuf, has allocated an additional five billion naira for the disbursement of a second installment of pension gratuity to retired workers in the state.

In a statement issued by the governor’s spokesperson, Sanusi Bature Dawakin Tofa, Governor Yusuf announced this decision at the commencement of the 14th State Executive Council meeting held at the Government House yesterday.

He said: “It is worth noting that last year, the government disbursed six billion naira to settle outstanding payments for thousands of retirees who had not received their entitlements during the previous eight years of the immediate-past administration.

“These payments were made to support retirees and bring joy to their lives, as many had endured years of waiting without receiving their rightful dues despite their dedicated service to the state during their working years.”

Aransi, in a release made available to the media in Ibadan, also commended the lawmaker representing Obokun State Constituency, Hon. Adewumi Adeyemi (Irekandu), and other members of the House of Assembly.

The special adviser, who could not hide his joy and excitement over the passage of the bill, described it as a better approach to assist the government and people with disabilities in their journey of inclusion.

He appreciated Adeyemi for sponsoring the bill, and stated that he has no doubts that the bill would not only secure the welfare, health and education of every person with disability in the state but also protect their rights.

Cherubim and Seraphim Movement Prays for Sanwo-Olu, Tinubu

SundayOkobi

The Cherubim and Seraphim Movement Church (Surulere District) in Lagos has commended the administration of Lagos State Governor, Babajide Sanwo-Olu, for the developmental strides in the state. The religious body expressed

appreciation to the governor for the efforts of the government in securing lives and property, from man-made and environmental hazards.

The church made the commendation during the constitution of an Investiture/Inauguration Committee for the upcoming programmes.

Michael Olugbode in abuja

A journalist with Vanguard Newspaper, Ms Victoria Ojeme, has appealed to the authorities to protect her from the “hands of faceless, unscrupulous and callous individuals” who have continued to send threat messages

to her over the alarm she raised about the senseless killing of her kinsmen in a bloody communal crisis.

Ojeme had last February raised the alarm over the crisis in her community following the bloody clashes between the people of Mbarvu and Mbasombo

The District Chairman/General Leader of the church, Special Apostle George Oluwadare Ogunleye, in a statement said: “As we pray and commend the governor for his efforts to move the state forward, we will intensify prayers against the incessant fire disasters in the state, for return of abundance in the land and that peace and brotherly love continue to reign supreme in our dear Lagos State.

“Permit me to use this opportunity to sincerely appreciate all our elders, male and female, Investiture/ Inauguration Committee, the entire church as well as all our friends and well-wishers who have been praying with us.

Benue Killings: Journalist Raises the Alarm over Threat to Life

communities in Gwer East Local Government Area of Benue state that claimed the lives of many including those of her loved ones.

According to her, among those killed in one of the attacks was her Aunt, the only surviving woman in her father’s house.

She had called for an end to the

senseless crisis, which had led to the sacking of communities and displacement of the people from their ancestral homes over disputed farmlands.

She said some faceless persons have not been comfortable with her outburst and outcry and have been sending threat massages to her.

Akin Fadeyi Foundation Inaugurates ‘Impact Series’ Debut with Afe Babalola

Funmi Ogundare

Akin Fadeyi Foundation is set to kick off it’s ‘Impact Series’, a digital footprint celebration of living icons with the Founder of Afe Babalola University (ABUAD), Chief Afe Babalola (SAN). The initiative is aimed at

celebrating excellence, benevolence, as well as fostering the culture of appreciation for living legends.

Speaking at the virtual inauguration yesterday, the Founder of Akin Fadeyi Foundation (AFF), Mr. Akin Fadeyi, explained that he was motivated by Afe Babalola’s exceptional qualities and achievements, adding that part of his accomplishments was how he donated £10 million to establish a learning centre at King’s College, London, in March last year, to enable young Africans to access education and opportunities which they might not be able to achieve.

Fadeyi recalled how one of the projects he handled ran into murky waters with a former minister in Nigeria, saying that the minister had brought state machinery on him and even wrote several institutions, including the Inspector General of Police (IG), to blacklist and tag him an enemy of the state.

Ibrahim Oyewale in Lokoja

Emmanuel Ugwu-Nwogo in umuahia

Daji Sani in yola

Joselu’s Late Brace against Bayern Sends Real into Final

Duro Ikhazuagbe

Real Madrid’s substitute, Joselu, scored two late goals in three minutes last night to give the Spanish La Liga champions a dramatic 4-3 aggregate victory over Bayern Munich at the

Santiago Bernabeu. The victory is also Madrid’s 18th Champions League final and sixth in the last 11 years. It certainly was

a night of nostalgia for

of

Dortmund on Saturday, 1 June at Wembley. With the first leg deadlocked at 2-2 from Allianz Arena, it was obvious that this semi

Boniface Target Semi-final Victory over Roma Tonight Live on GOtv

Nigerian forward, Victor Boniface will be hoping to fire his side, Bayer Leverkusen to victory when they host Roma at the Bay Arena tonight in the second leg of their UEFA Europa League semi-final clash. The match will be broadcast live on GOtv.

Xabi Alonso’s men triumphed 0-2 away at the Stadio Olimpico despite conceding possession for a large spell of the match. Goals from Florian Wirtz and Robert Andrich gave the German Bundesliga champions victory over the Italians, thereby extending their run without loss in the Europa League to 13 matches (W8 D4).

Leverkusen equalled Benfica’s 59-year-old 48-game unbeaten streak last weekend when they defeated Eintracht Frankfurt 5-1 in the Bundesliga. The German champions will be keen to break the record against Roma. Tonight’s game will be live on GO La Liga (ch 62) at 7:55pm.

On the other hand, Roma are keen to overturn the deficit as they look to make their third consecutive European finals. The allure of stopping Leverkun’s unbeaten streak may serve as additional motivation for Danielle De Rossi’s men.

an

ended 1-1.

Marseille’s coach, Jean-Louis Gasset will be worried about his side’s away record in Europe having won only one of their six games on foreign soil in the competition this season, losing at Villarreal in the last 16 and Benfica in the quarter-finals. He will be banking on tournament top scorer, Pierre-Emerick Aubameyang to fire the team to another European final. In the Conference League, the last English team in Europe, Aston Villa face an arduous task of overturning a 2-4 first leg defeat at home when they visit the Karaiskakis Stadium to take on Olympiacos.

Flamingos

off to Bamako as CAF Changes Match Official

Nigeria’s U17 girls, Flamingos, will today depart the shores of the country for Bamako, capital of Mali ahead of Saturday’s FIFA U17 Women’s World Cup African qualification series third round, first leg encounter against Burkina Faso. The Nigerian girls have failed to appear in only one edition of the competition (Uruguay 2018) since it was launched in New Zealand in 2008, and are set for a handsome win in the Malian capital to make the return leg in Abuja on 18th

May a formality. Despite a 9-1 hammering of their opponents in a preparatory game, Head Coach Bankole Olowookere insisted his girls have to realise there is a difference between training sessions and match situations and learn to convert all their opportunities during games. Meanwhile, the Confederation of African Football (CAF) has made a change to the fourth official of Saturday’s match at the Stade on 26 March in Bamako. Originally,

Joselyn Nsabimana was to be the fourth official alongside Burundi compatriots Suavis Iratunga, Fides Bangurambona and Alida Iradukunda who will be referee, assistant 1 and assistant 2 respectively. However, CAF has now appointed Teneba Bagayoko from Mali to be the fourth official. Oumou Souleyman Kane from Mauritania and Aya Irene Ahoua from Cote d’Ivoire have been retained as match commissioner and referee assessor respectively.

first blood. With a barren first half, Bayern returned from the break more determined to set up an all-German Champions League final following Dortmund’s defeat of PSG in the first semifinal on Tuesday night.

Alphonso Davies fired the Germans into the lead in the 68th minute when he cut in and blasted past Andriy Lunin after England captain, Harry Kane, had found him with a superb pass.

That goal puts Bayern at advantage and were looking good to carry the day until when Joselu came on as substitute for Federico Valverde in the 81st minute. Seven minutes later, Joselu grabbed the

equaliser when he reacted quickest after Bayern goalkeeper Manuel Neuer, who had been excellent up until then, fumbled Vinicius Jr's effort. There was even more drama to come two minutes later when Joselu, a former Stoke City striker, swept home from six yards out from Antonio Rudiger's square pass to put the 14-time European champions another final.

The goal had originally been given as offside only for a video assistant referee decision to show that Joselu was onside, sparking incredible scenes of celebration in the Bernabeu, with Real hanging on to win 4-3 on aggregate.

Chelsea have dropped the idea of offering Romelu Lukaku as a makeweight in a possible deal for Napoli's Victor Osimhen.

The Blues are desperate to sign a top striker for next season and the Nigerian forward, Osimhen topped the list of likely big signings by the London side who aim to regain the club's dwindling fortune.

But negotiations are not underway yet with Chelsea considering several striker options and assessing their summer budget.

The London club are believed to be mulling paying Osimhen 10 Million Pounds a year, which will be more than match what PSG plan to table before him.

Napoli inserted a release clause worth at least £100m into a new contract which Osimhen signed earlier this year and is still insisting it's paid in full in order for a sale to occur this summer.

According to90min.com, reports from Italy claimed Wednesday that Chelsea have offered Napoli the chance to acquire Lukaku, who they signed for £97.5m from Inter back in 2021, to try and bring that sum down, but 90min understands this has not been the case to date.

The interest in Lukaku stems from new Napoli Sporting Director, Giovanni Manna, who recently joined from Juventus. Manna tried to sign Lukaku for Juve last summer, leading to Inter backing out, and Lukaku actually ended up joining Roma.

Lukaku, for his part, would prefer to stay at Roma once his season-long loan expires at the end of the season, but has not shut the door on another Italian club and is reconsidering Saudi as an option as well.

Chelsea have a verbal clause in place allowing Lukaku to go to any club for £38million but the Giallorossi are expected to try and reach an agreement at a lower price. Chelsea's search for a striker is ongoing and they retain a strong interest in Benjamin Sesko, who could leave RB Leipzig this summer. Arsenal and Manchester United also have the Slovenian on their respective shortlists.

Despite a lowkey season, Brighton & Hove Albion’s Evan Ferguson is also under consideration at Chelsea, with several members of the club's recruitment team fans of the 19-year-old.

Liverpool's Darwin Nunez is another historical target for Chelsea, but sources say he is unlikely to be on their list of options despite recent suggestions he could leave Anfield.

The Liverpool hierarchy view Nunez as an important part of their future in the post-Jurgen Klopp era and believe he is an highly under-appreciated player who brings a lot to the team outside of just his goals.

Real Madrid’s Joselu (in front) celebrating his goals with teammates after the Spanish champions defeated Bayern Munich aggregate 4-3 to reach the final of the Champions League...last night

Also this evening, Ademola Lookman’s Atalanta will be banking on the home crowd to stir them to a first European final when Marseille come visiting. The home side failed to defend

early lead at Stade de Marseille last week as the match

Victor Osimhen...Chelsea set to meet Napoli’s demand

Many Nigerians were aghast when they learned that military authorities had begun the controversial ‘Operation Safe Corridor’ initiative to ‘rehabilitate and reintegrate surrendered and repentant Boko Haram terrorist members.’ But it had the backing of President Muhammadu Buhari with Governor Babagana Zulum of Borno State also fully embracing it the moment he got to office. While I understand the social problems Zulum may have been attempting to solve, I have always believed that the entire programme is wrongheaded. Any policy based on appeasing criminals at the expense of justice for their victims cannot, in my book, be justified.

Incidentally, many stakeholders in Borno State, the epicentre of the Boko Haram insurgency, were also critical of the idea. For instance, the Shehu of Borno, Abubakar El-Kanemi, is on record as saying it would be difficult to cohabit with ‘repentant’ killers. “Many people were killed along with their property. And you people (government) and the media expect us to forget and forgive the repentant terrorists?” he queried. Senator Ali Ndume (currently the senate chief whip) was no less vehement in his opposition. “I am completely against the idea. You are just telling people to go and join Boko Haram and then repent…that’s a totally unacceptable way of solving problem.”

In February 2020, Ndume publicly denounced the announcement by the military that another batch of 603 ‘repentant’ insurgents had completed their de-radicalisation programme. He alleged that most of those earlier integrated into the communities had gone back to their old ways. “Many among those released have since run away. The government should know what to do about them, but not reintroducing someone to you, who has killed your parents or your relations”, said Ndume who recounted the atrocities committed by Boko Haram in his community. “In my village, mallams that are Muslims, not ordinary Muslims but mallams, elders above 60, were taken to an abattoir and slaughtered by Boko Haram. 75 of them... Not that they even apologised to you, they apologised to the government with the thinking that government has failed and that is why they are being pampered. They are like Kharajites. They will never repent.”

That ‘prophesy’ came to pass last week Tuesday night when ‘repentant’ Boko Haram insurgents (who dressed in military uniform) invaded a police station in Maiduguri to set free eight of their colleagues who had been arrested earlier with 476 grammes of illicit substances.

“Thereafter, they went and attacked Nigeria Immigration Service and NDLEA check points after the welcome to the township gate and they burnt it down,” according to the Police Public Relations Officer in Borno State, Kenneth Daso who said arrests were made. Although Daso was silent on injuries and death, there are reports of fatalities.

I have on three occasions deployed Ndume’s argument to oppose this warped idea, especially given the factor of timing and the issue of justice. You don’t pamper killers with goodies and send them back to the families of their victims in the middle of a war that has no expiry date, I warned. De-radicalisation, as I also pointed out in the past, is never an easy option, even in advanced countries that have all it takes. To effectively

“These accusations or rather, viewpoints, are, to say the least, intrinsically superficial, baseless, self-serving and politically motivated…it will not be immodest to state that the former vice president displayed the highest level of hypocrisy and was out to mislead and brainwash the unsuspecting members of the public, especially the gullible, for selfish political reasons”—TheMinisterofWorks, againrespondingtothelatestsalvofromtheformerVicePresidentwhoinsiststhatthecontroversial Lagos-CalabarcoastalhighwayismotivatedbyPresidentTinubu’spersonal/businessinterest

The ‘Repentant’ Boko Haram Fighters

tackle the issue of ‘reformed terrorists’, according to Sabariah Hussin, a research analyst at the International Centre for Political Violence and Terrorism Research (ICPVTR) in Singapore, the authorities must be well equipped to handle the various reintegration challenges. “This requires strong political will, adequate resources and the involvement of the wider community,” Hussin wrote. “An under-appreciated aspect of the reintegration process involves community engagement.”

It is evident that in Nigeria, we do not have what is required for a proper deradicalization process, which also takes time. It’s certainly not about preaching sermons to killers. Former Thursday,

Following my last Thursday column, ‘The Billionaire Police Commissioner’, Mr Aderemi Adeoye responded on his Facebook page, apparently for the benefit of his Alpha Trust Investment Club members who then circulated the message. “The publication (my column) is nothing but junk journalism. I will be appearing on Arise Television by 9am tomorrow Friday 3rd May 2024 to show how unintelligent the article is and throw light on all issues surrounding renegade members antics to blackmail us,” Adeoye wrote on the platform. “If you are interested in knowing the truth in a no holds barred manner, please tune in.”

Last Friday morning, I watched Adeoye on ARISE as he tried to justify his actions and I leave readers to their judgement of his performance. But I need to clarify a few issues concerning my column. One, did I check for the registration of Alpha Trust Investment Club at the Corporate Affairs Commission (CAC)? Yes, I did. The search came up with five companies with similar names:

Agriculture Minister and then chairman of the Arewa Consultative Forum (ACF), Chief Audu Ogbeh spoke to this same issue three years ago. “We are currently witnessing large scale surrender of large numbers of Boko Haram insurgents, among whom are bomb makers, commanders, arsonists, rapists, and child snatchers,” said Ogbeh who then asked: “Do we have good reason to cheer and hope for an end to this decade-old insanity? Is ‘I am sorry’ enough to bring relief to Nigerians and the thousands of dead and maimed?”

The unjust nature of the idea was further elaborated upon by Mr Abba Ali at one of the Internally Displaced Camps (IDPs) in Maiduguri called ‘Bakassi’ in 2020. “Imagine you had your children murdered, your wife raped and killed. The culprits are arrested, and the government tells you they are now repentant. And while you are still at an IDP camp, with your family disorganised, and you are struggling to get food to eat, the government brings the culprits, feeds, and clothes them, gives them education and money to start a business and sends them to come and be your neighbours” Ali told VANGUARD newspaper. “I learnt that many of them who pretended to surrender were not only given money and certificates after their graduation from a radicalization centre in Gombe, but they were also allowed to be reintegrated into the society to mingle with their victims. It is very shocking to me.”

It would be shocking to every rational person. And with what happened last week, it is now obvious that the suggestion that anybody can appeal to the conscience of these criminals is ludicrous. Meanwhile, the same formula was tried with bandits in the Northwest before it exploded in the faces of everyone. “With good engagement, education and enticements like jobs and other things, they will leave this work. But we need a partner, and we need the government to understand”, Sheikh Abubakar Gumi once rhapsodized while pushing a case for negotiations with bandits. “To secure schools, why not engage the bandits? Engage them; they are not many. You can count them with your

fingers. How can you guard schools? It is not possible.”

I wonder what Gumi would now say to Governor Dikko Radda of Katsina State who last week accused unnamed government officials and security personnel of aiding banditry, which he described as “a business venture for the criminals and a business venture for some people who are in government and some people who are in the security outfits and some people who are responsible for the day-to-day activities of their people.” These are weighty charges coming from a governor, but the greater concern is the extent to which the problem has grown in a state where former President Muhammadu hails from. “…in Katsina, we have more than 100 different camps that are being led by somebody. So, they have many leaders, many camps and if you’re negotiating with camps A and B and don’t negotiate with camps C and D, it will not bring any lasting peace,” said Radda. “Even if you negotiate with the leaders, the other leaders may not necessarily comply with the directives of the leader. So that is what makes the negotiation very difficult. That is why I said I would never go into negotiations with any criminal at the point of weakness.”

A combination of porous borders, weak signal and technical intelligence, lack of proper data regarding who exactly is a Nigerian and the influx of illicit drugs including Tramadol have given rise to sundry cartels of opportunistic criminals. I commend the military for their efforts and the sacrifices they make on behalf of our nation. But it was always obvious that a policy of appeasement cannot work with insurgents in the Northeast or bandits in the Northwest. As I have often argued on this page, the connecting thread for the variants of violence we are witnessing across Nigeria is the loss of what Max Weber described as “the legitimate use of physical force” to criminal cartels. And until we muster the requisite capacity and political will to effectively confront those who trouble the peace of our country, we will continue to be at their mercy. But for now, the federal government must discontinue this ill-advised policy.

Alpha Trust Nigeria Limited; Alpha-Trust Divine Resources Limited; Alpha Trust Company Nigeria; Alpha-Mage Trust Insurance Brokers Limited and Alpha Intercity Trust Securities Limited. But Adeoye made some clarifications on ARISE. “The name of this organisation is Alpha Trust Investment Club. Our loan arm is registered as ATIC Cooperative Multipurpose Society Limited, which is registered with the Lagos State Government. We carry on investment under the business name of ATIC Ventures and Business Services and that is the name that is registered with the Corporate Affairs Commission (CAC)”, Adeoye said on ARISE. So, I concede that the business is registered, even though with a different name. But the devil, as they say, is in the details. This business (ATIC Ventures and Business Services) has only three people listed as proprietors (not investors) at the CAC: Aderemi Olufemi Adeoye, David Kaykay Egbele and Akanbi Babatunde Olanrewaju. “Principal business activity: Real estate and importation of vehicles.” That’s what is on the official record with

nothing about Alpha Trust Investment Club there. If Adeoye says this company belongs to 1400 Facebook members, I choose not to contest that. The fact that he controls a business worth N20 billion doesn’t mean he is a billionaire, Adeoye told ARISE. That is also a valid point, especially since he explained that the 11 million shares that he alluded to in his PUNCH interview do not belong to him. Incidentally, a friend forwarded this message to me last Thursday for my response: “Good afternoon, Sir. I just went through this (link to my column added). Please, if you don’t mind. Can I have a brief audience with Mr. Segun Adeniyi? I don’t mind a tripartite call. I also don’t harbour any grievance based on the content of his piece. I only want to explain a few things. My brother is definitely not a billionaire, among other things. The investment club is registered with LASG as a cooperative. It’s not a company.” I declined speaking with the said brother but appreciated his point…

NOTE: Piece concluded online

Dave Umahi to Atiku Abubakar