WEDNESDAY 12TH MAY 2021 by THISDAY Newspapers Ltd

UTM Offshore, JGC, KBR Sign First Floating LNG Pre-Feed Contract Emmanuel Addeh in Abuja An indigenous firm, UTM Offshore Limited, has signed a deal with Japan Gas Corporation (JGC), a leading international Engineering Design, Procurement and

Construction (EPC) firm, to establish a Floating Liquefied Natural Gas (FLNG) facility, the first of its kind in Nigeria. This followed the issuance of licence by the Department of Petroleum Resources (DPR) to establish the FLNG facility.

UTM Offshore Limited took a major step to actualise the project yesterday, signing virtually, a landmark preliminary front end engineering design (Pre-FEED) agreement with JGC. According to the agreement,

the Pre-FEED scope would be completed within four months from commencement date. UTM has also engaged Kellogg Brown and Root (KBR) of the UK to provide owner’s engineering services on the project.

KBR is to provide due diligence on the JGC scope by conducting a third-party review of all deliverables from JGC during the Pre-FEED. Speaking at the virtual signing event, the Managing Director of UTM Offshore

Limited, Mr. Julius Rone, said JGC Corporation came highly recommended given the several similar projects the firm had undertaken across the world. Continued on page 43

Transportation Ministry: Why we Want NPA to Procure Equipment , Not Contracts...

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Despite Pandemic, NSIA’s Income Rises by 343% to N160bn Abacha’s $311m refund intact, says Orji

Obinna Chima in Lagos and Emmanuel Addeh in Abuja

The Nigeria Sovereign Investment Authority (NSIA),

manager of Nigeria’s Sovereign Wealth Fund (SWF), yesterday announced its audited results for its 2020 financial year, reflecting a strong financial

performance and consistent implementation of strategic infrastructure investment programmes for the year. The results showed that

despite the challenges posed by the COVID-19 pandemic in the year under review, the NSIA recorded 343 per cent growth in its total income,

which rose to N160.06 billion in 2020, up from the N36.15 billion in the previous year. Also, excluding devaluation gain of N51 billion, the NSIA

made a core income of N109 billion compared to N33.07 billion in 2019. Continued on page 42

Southern Governors Call for National Dialogue, Restructuring, End Open Grazing

Want appointments to reflect federal character Urge Buhari to address nation on insecurity

Omon-Julius Onabu in Asaba

Governors of the 17 southern states under the aegis of the Southern Governors Forum have called on the federal government to convoke a national dialogue as a matter of urgency to address widespread agitations among Nigerians for greater inclusiveness in governance. “The federal government should convoke a national dialogue as a matter of urgency,” they said in a communique at the end of their meeting yesterday in Asaba, the Delta State capital. The governors also called for the restructuring of the country and end to open grazing in the Southern parts of the country to curb the excesses of armed herders. In the 12-point communiqué, the governors stressed the need to review appointments into federal government agencies, including security agencies, to reflect federal character and the heterogeneity of the Nigerian population. Continued on page 42

TRAILBLAZER...

L-R: Member, Nigerian Ports Authority Board, Chief Akin Ricketts; TAMPLARS’ Ms. Yemisi Awonuga; Managing Director/CEO, UTM Offshore Limited, Mr. Julius Rone; Chief Executive Officer, Delta State Investments Development Agency, Mr. Paul Nma; Legal Counsel, UTM Offshore Ltd., Mr. Alecander Utieyin-Scott; and Project Lead Consultant, Dr. Yahuza Kassim, at the signing of the pre-front end engineering design contract of Nigeria’s first floating LNG in Lagos…yesterday

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

NATIONAL DIALOGUE ADVOCATES...

L-R: Governors Godwin Obaseki (Edo), Dapo Abiodun (Ogun), Moses Ekpo (deputy governor, Akwa Ibom), Willie Obiano (Anambra), Duoye Diri (Bayelsa), Dave Umahi (Ebonyi), Kayode Fayemi (Ekiti), Rotimi Akeredolu (Ondo), Ifeanyi Okowa (Delta), Nyesom Wike (Rivers), Babajide Sanwo-Olu (Lagos), Ifeanyi Ugwuanyi (Enugu), Placid Njoku (deputy governor, Imo), Seyi Makinde (Oyo) and Okezie Ikpeazu (Abia) during the Southern Nigeria Governors Forum meeting in Asaba, Delta State…yesterday

Transportation Ministry: Why we Want NPA to Procure Equipment, Not Contracts

Ejiofor Alike

The Ministry of Transportation has explained that it objected to the award of contracts for the management of channels by the Nigerian Ports Authority (NPA) because it is more cost-effective for the NPA to procure necessary equipment and execute the contracts in-house. In a statement issued yesterday by the Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani, the ministry described the allegation that the Minister, Hon. Rotimi Amaechi, recommended two Chinese companies to execute the contracts as malicious, unfounded and a

deliberate attempt to drag the reputation and the integrity of the minister in the mud. The statement disclosed that while channel management contracts had been routinely awarded over the years by the NPA at a cost of between N50 billion and N60 billion on an annual basis, Amaechi had adopted a firm position that the NPA should undertake the job of channel management on an in-house basis through the acquisition of the necessary machinery and professional capacity to stop the humongous annual sums paid out to dredging contractors by the agency. The ministry, in the statement noted that the channel management

contracts for the Lagos, Bonny and Port-Harcourt Channels expired in 2020, while the contractual process for the renewal of the said contracts commenced early in 2021. According to the statement, Amaechi, had while responding to a request for the NPA to provide requisite details related to the proposed transactions directed on January 22, 2021: “There is the need for NPA to know that NPA should purchase their own equipment and not award any contract. “The letter requested the NPA to provide the following information for the ministry’s records and further necessary action: The current status of the managing agent contract

and the measures put in place to cover the vacuum created as a result of the expiration of the contract to prevent revenue loss to the government; “The current status of the Lagos and Bonny/ Port Harcourt Channel management companies and the measures put in place to cover the gap created by the expired contracts to ensure the channels are maintained for safe navigation and efficient service delivery; “The volume dredged annually from the channels and the depths achieved from inception management contracts to date and the amount expended; “The number of wrecks removed annually by the

Channel Management Companies from inception of the contracts and amount spent; and “The total number of buoys replaced or maintained during the life span of the contract and the amount spent. “I am to also convey the directives on the need for the Authority to procure its equipment for the service and cease from awarding any such contract.” The ministry’s statement said despite the fact the above letter was duly received by the NPA on February 2, 2021, NPA did not deem it necessary till date to respond to the ministerial directives. The ministry said in keeping with the best

traditions of the public service, it would not be drawn into an endless media war. According to the statement, the agenda being pursued in the media could best be canvassed before the administrative panel it has set up to unravel issues surrounding the management of the NPA since 2016. “The panel has been charged to be fair and equitable in its deliberations and will certainly, ensure that the primary purpose of the inquiry is the promotion of the principles of transparency and accountability which are strongly espoused in the present political dispensation,” the statement added.

Military Solution Can’t End Insecurity, Says Ex-NHIS Boss Onyebuchi Ezigbo in Abuja A former Chief Executive Officer of the Nigeria Health Insurance Scheme (NHIS), Prof. Usman Yusuf, has advocated a non-military solution to battle the insecurity bedeviling the country. Yusuf, who said he played a key role along with former President Olusegun Obasanjo and Muslim cleric, Sheik Abubakar Gumi, in negotiating freedom for the 27 abducted students of the Federal College of Forestry Mechanisation, Afaka, in Kaduna State, spoke yesterday on ‘The Morning Show,’ a programme on ARISE NEWS CHANNEL, the broadcast arm of THISDAY newspapers. Speaking on what he described as Obasanjo-Gumi peace initiative to arrest the degenerating insecurity in the country, Yusuf said it would be wrong and ill-advised for the federal government to pursue a military option as a means of ending the conflict in the

country. He said though the military could be used to maintain peace and curtail the activities of criminals, ending the threats by banditry, Boko Haram and groups like IPOB and OPC would not require military solution. He said only genuine and properly negotiated reconciliation, rehabilitation and reparations could end the conflict and bring lasting peace to the country. He said: "This is the honest reality. We need to accept that there is no military solution to all the issues of insecurity across the country. We need short-term, medium-term and long-term solutions to the problem. "On short-term, and this exactly what we have started, open a trusted channel of communication and that is what Sheik Gumi has done. Secondly, there is a need to build confidence; there is so much distrust in the country. "The third stage is the

cessation of hostilities and number four - we need to have ceasefire by all. We need to have a ceasefire. Their grievances are mostly local with vigilantes, not with the federal government and we need to open channels of communications and secure ceasefire and that's what we are doing right now. "The next stage or mediumterm, we need to have three R's and one D. The first R is reconciliation and forgiveness all across the country. Fulanis have lived in peace with all people across the country and now they are fighting everybody everywhere they live. We need to have reconciliation and without it, nothing will work and that reconciliation is local and will not come from Abuja." According to him, the second R is reparations, stating that many people have lost their lives and property and need to be compensated. He stated that the third R represents the need for

rehabilitation, adding that various farmers have lost their farmlands and sources of livelihoods. He said the farmers needed to be rehabilitated and made to go back to their farms' businesses and markets for genuine peace to prevail. Yusuf said repentant bandits needed to be rehabilitated as most of them were high on drugs and required special care and attention to restore them to normal lives. Speaking on why Gumi recently visited Obasanjo in his residence at Ota in Ogun State, Yusuf said Gumi held the former president in high esteem and believed that with his credibility and wealth of experience both in resolving conflicts locally and globally, he would be able to help bring peace to the troubled parts of the country. "Gumi went to brief him on what we are doing, solicit his support and to bring him on board," he said. Yusuf identified the final

aspect of the solution as disarmament, which would take the form of bilateral disarmament. According to him, by bilateral disarmament, both the local vigilantes and the bandits would be disarmed simultaneously so that lasting peace could return to communities and to the nation. Yusuf said the process of peace and reconciliation should be spearheaded by religious leaders- Christians and Muslims. He stated that from the experiences and confessions obtained during meetings with the bandits and killer herdsmen, they were ready to accept reconciliation brokered by clerics. Yusuf said he believed that religious leaders would be more effective in negotiating the resolution of the security crisis in the South-east, Southsouth and South-west. Yusuf also spoke on the state of affairs in Kaduna State.

He accused the Governor, Mallam Nasir el-Rufai, of not showing good leadership in dealing with insecurity. He alleged that Kaduna State has become an epicentre of insecurity in the country because of the governor's utterances. "I said that Nasiru el-Rufai is deaf, dumb and blind with the sufferings of his people when it comes to insecurity. These children were in the custody of the bandits in the bush for 56 days and he said he wasn't going to talk to anyone. Five were lost and this was the first fatality in all the seven cases of school abduction so far. "The governor is not showing good leadership when it comes to the issue of dealing with insecurity and securing the people's lives. I have said this before, and I stand by it. He was elected to protect the lives of the people not to endanger their lives but his continued unguarded utterances are endangering the people's lives," he said.

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Banks Slash Dollar-cash Deposits to $5,000 Monthly Obinna Chima Nigerian banks have reduced the amount of United States dollars customers can pay into their domiciliary accounts from the previous $10,000 to $5,000 monthly. A top bank official who craved anonymity confirmed the new policy to THISDAY yesterday. However, the new policy does not apply to customers making electronic transfers as well as oil and gas companies and dollar payments into government accounts. The Central Bank of Nigeria (CBN) directive, according to findings by THISDAY, is to discourage the strong appetite for the greenback, which has continued to rise. A report had revealed that about 40 per cent of bank deposits in the top 10 banks in the country was in dollars. Head of Research at Coronation Asset Management, Mr. Guy Czartoryski, had in the report, said: "We looked at the top 10 banks and the breakdown of their deposits showed that 40 per cent of their deposits are in dollars and it is quite astonishing." The CBN has in recent times been designing policies to encourage further inflows of foreign currencies into the Nigerian economy. Some of the measures

introduced recently included the granting of unfettered access to forex from Diaspora and other money transfer remittances as well as the “CBN Naira 4 Dollar Scheme.” The central bank had explained that the policies were part of efforts to liberalise, simplify and improve the receipt and administration of Diaspora remittances into Nigeria. CBN Governor, Mr. Godwin Emefiele, had said reforms to increase diaspora remittances into the country would support the economy and help reduce the impact of the COVID-19 pandemic. He said if the country could have inflows of about $10 billion to $15 billion, this could boost the economy amidst the current fiscal constraints. The central bank has been insisting that all diaspora remittances must go through the deposit money banks rather than mortgage or fintech institutions. Some of the measures introduced recently included the granting of unfettered access to forex from Diaspora and other money transfer remittances as well as the “CBN Naira 4 Dollar Scheme.” The limitation policy by the banks, according to an analyst at ARM Securities Limited, Mr. Olamofe Olayemi, is expected to discourage the hoarding

of the US dollars as well as reduce pressure in the forex market. Speaking on the latest development on Arise News Channel yesterday, he said: “This has to do with how much confidence the people

have in the naira. Over time, we have seen significant depreciation in the naira. “If you look at what happened in 2020, no one expected that the naira would be devalued twice in that year and even the outlook,

this year is suggesting further depreciation in the naira. “So, it makes sense to a lot of people to store their money in dollars. But, from the CBN standpoint, you agree with me that there is dollar scarcity.” He argued that the policy

might discourage financial inclusion and raise the amount of cash outside the banking system. “Again, it is important for the flow of money to be captured in the system,” he said.

PLOTTING NEW SECURITY STRATEGY... L-R: Chief of Defence Staﬀ, Gen. Lucky Irabor; National Security Adviser, Maj.Gen. Babagana Monguno (rtd); and Acting InspectorGeneral of Police, Mr. Alkali Usman, after a security meeting with President Muhammadu Buhari in Abuja…yesterday

Malabu: British Court Orders JP Morgan to Disclose Bank Records Emmanuel Addeh in Abuja with agency report The federal government yesterday secured a major victory in its case against Malabu Oil and Gas after a United Kingdom High Courtordered JP Morgan Chase, the bank in the middle of the alleged scandal, to release more documents to the lawyers representing Nigeria. Nigeria had asked the UK court to force the United States bank to disclose more records ahead of a trial in which JP Morgan stands accused of enabling the misappropriation of almost $900 million in state funds. The court granted the Nigerian application to secure records from top US executives and compliance officers involved in signing off $875 million in payments between 2011 and 2013 relating to the controversial OPL 245 oil licence deal. Lawyers representing Nigeria said last week that

there had been “serious issues” with the US bank’s approach to disclosure, adding that its focus on documents and interactions between staff in Europe was “unduly narrow.” Delivering the order, Justice Neil Calver said: “A key issue in these proceedings is what JPMC knew and when it knew it,” a report in yesterday's edition of Financial Times quoted him as saying. Calver ruled that certain US compliance documents, the significance of which JP Morgan played down at last week’s hearing, were “likely to be relevant to the case on gross negligence.” The trial is due to start next February after the bank failed in a 2019 attempt to have the lawsuit dismissed. The 2011 deal was an attempt to end a multi-year battle over the ownership of the lucrative OPL 245 oil licence. However, it ensnared European oil majors Royal Dutch Shell and Eni in corruption investigations in

Italy. The licence, in the years prior, was shuffled back and forth between Shell and Malabu, a Nigerian oil company backed by a former Petroleum Minister, Dan Etete, that was first awarded development rights in 1998, when he was still serving under the late Head of State, Gen. Sani Abacha (rtd). A Milan court in March cleared the oil companies and their senior and former executives of any wrongdoing, and Etete of corruption charges. But Nigeria is pushing ahead with its case in London against JP Morgan and seeking compensation of $875 millionplus interest from the bank for facilitating two payments in 2011 totalling $801.5 million and one in 2013 for $74.2 million. The country alleged that it was a victim of a “fraudulent and corrupt scheme” involving bribes paid to former and current Nigerian politicians and oil executives through the

transfer of funds via Malabu accounts. JP Morgan had argued that it received sufficient approvals from Nigerian authorities before allowing the transfer of funds from a government account to those controlled by Etete. Nigeria had also argued that JP Morgan breached its duty of care by going ahead with payments out of the government account despite having reasonable grounds to believe they were intended to defraud it. JP Morgan, the government said in court, “took the irrevocable step of paying vast sums away to Malabu”. It highlighted that JP Morgan had not only notified the UK’s Serious Organised Crime Agency of the proposed payments, it had filed four “Suspicious Activity Reports” in 2011. A US-based compliance officer for JP Morgan also raised a red flag in 2013, saying in a memo revealed in court

that “in light of Malabu’s reported connection to the alleged Nigerian corruption scheme, there would be a great risk presented if JPMC continues to process wires involving Malabu.” The memo was intended to prepare Pamela Johnson, the bank’s global head of financial crime compliance, for a meeting with then Chief Operating Officer, Mr. Matt Zames, indicating the matter had escalated to the highest ranks of JP Morgan. The bank is now obliged to share further documentation linked to Johnson and other top US executives, including Lester Pataki and John Gibbons. In previous hearings, even as the bank said it had “no responsibility” to look behind any payment instructions, the judge said this was not consistent with the agreement the bank had with its client. fter the ruling, Financial Times quoted a representative of the Nigerian government to have said: “It is high time

JP Morgan gave a clear and unambiguous account of exactly how the decisions to make these huge payments were made when it was on notice that to pay out risked its customer, Nigeria, being defrauded.” Last week, fresh documents on the long-standing legal dispute between the federal government and Malabu Oil & Gas showed that JP Morgan may have been alerted by its internal control system that the transfers were questionable. A report by Bloomberg indicated that JP Morgan Chase & Co. was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totalled $875 million to Etete. The federal government had alleged that most of the $1.3 billion purchase price for the licence for the offshore oilfield known as OPL 245 was siphoned off to politicians and middlemen under previous administrations.

OPEC Raises Forecast on Members' Crude Supply Nigeria’s production increases by 75,000 barrels in April Emmanuel Addeh in Abuja The Organisation of Petroleum Exporting Countries (OPEC) yesterday lifted its forecast on its members' crude this year by over 200,000 bpd and now expects demand for its own crude to average 27.65mn bpd in 2021. This is almost 5.2mn bpd higher than last year and around 2.7mn b/d higher than earlier estimate of the group's April production. According to the highlights of the organisation's latest

Monthly Oil Market Report (MOMR), OPEC crude is projected to rise from 26.48 million bpd in the second quarter to 28.7 million bpd in the third and 29.54 million bpd in the fourth quarter of the year. The report also indicated a fall in Nigeria’s crude production from 1.477 bpd in February to 1.473, a difference of just about 4,000 bpd before rising again in April to 1.548 million bpd, to add 75,000 bpd last month. OPEC stated that its upward

revision of members' crude was underpinned by a downgrade in the group's forecast for non-OPEC supply, which it now expects to grow by 700,000 bpd to 63.6mn b/d against last month's report’s projection of a 930,000 bpd rise to 63.83mn bpd. The oil cartel projected that US crude output would drop by 280,000 bpd this year, compared with its previous forecast for a 70,000 bpd decline. On the demand side, OPEC kept its overall forecast

unchanged from last month's MOMR, stressing that it expects global oil demand to grow by 5.95 million bpd to 96.46 million bpd this year, partly reversing last year's 9.48mn bpd drop. Spot crude prices fell in April for the first time in six months, with North Sea Dated and WTI easing month-on-month by 1.7 per cent and 1 per cent, respectively. On the global economic projections, the cartel said stimulus measures in the US and accelerating recovery in Asian economies might

continue supporting the global economic growth forecast for 2021, now revised up by 0.1 per cent to reach 5.5 per cent year-on-year. This comes after a 3.5 per cent year-on-year contraction estimated for the global economy in 2020. However, global economic growth for 2021 remains clouded by uncertainties including, but not limited to the spread of COVID-19 variants and the speed of the global vaccine rollout, OPEC stated. “World oil demand is

assumed to have dropped by 9.5 mb/d in 2020, unchanged from last month’s assessment, now estimated to have reached 90.5 mb/d for the year. For 2021, world oil demand is expected to increase by 6.0 mb/d, unchanged from last month’s estimate, to average 96.5 mb/d,” it said. The report listed the main drivers for supply growth in 2021 to be Canada, Brazil, China, and Norway, while US liquid supply is expected to decline by 0.1 mb/d yearon-year.

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COMMENT

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

GOODNIGHT, INNOCENT CHUKWUMA Kayode Fayemi pays tribute to Chukwuma, a civil rights activist

othing could have prepared Bisi and I for the shocking news of Innocent Chukwuma’s passing, which we received on the morning of April 4, 2021. We were at our country home engaging different grassroots stakeholder groups over the Easter holidays, and the only way I could get through the packed schedule for the day without betraying emotions publicly was to succumb completely to the allure of denial – the momentary coping mechanism that defers dealing with painful realities but does not take the sting away. Only the day before, we learnt of Yinka Odumakin’s passing. It seemed like both legends of the struggle had agreed to serve us their untimely exits back to back, so we could deal with the agony in one season. Pain tugged at our hearts as we tried to concentrate. In between meetings we managed to speak with our sister, his widow Josephine on phone. Since then, I have remained in denial – even after visiting our dear departed friend’s home to commiserate with the family. I am yet to come to terms with the reality of the huge loss which makes penning a fitting tribute in his honor especially difficult. How could Inno be dead? My mind keeps going back to our last engagement on our polity and the fragility of our democracy despite all the work that has been put into the Nigeria project so far. I keep asking myself if he had a premonition this was about to happen? Was he sending a message when he kept encouraging me to hold firm to the ideals and values that we fought for at the barricades, even now that I am in public office? In life, Innocent fought a good fight and had a long winning streak of phenomenal successes as one of the most iconic leaders of civil society out of Africa, before he succumbed to his last fight. He was exceptional – a sagely intellectual, a dogged activist and development practitioner, a prodigious administrator, and a patriotic nation builder. Above all he was my friend – as he was to many people. That for me was what was most remarkable about Inno – his ability to build genuine bonds of friendship with so many people from so many different backgrounds in the course of his work. Every engagement with Innocent left you with the impression that he was not only deeply passionate about collaborating with you on projects and programmes, but he was first interested in you as a human being. His, “Oga Kayode, how are you?” was genuine, and demanding of an honest response about how I as his friend was coping with the vicissitudes of life. It is not surprising therefore, that Innocent Chukwuma had one of the widest networks in the public and civic sectors in Africa. He was trusted by individuals, governments, development agencies, and global non-profits – and he never failed. He got international recognition early, with the award of the Reebok Human Rights prize. As someone who is from that movement myself, I can attest to the fact that his knowledge of the workings of civil society was stellar, and he had this obsession for birthing ideas, nurturing them to the point they can thrive, handing them over to competent successors, and moving on. One of his finest legacies is the CLEEN Foundation, which he set up in 1998 – one of the first African CSOs to focus on public safety, security, and accessible justice in West Africa. CLEEN Foundation was the first African nongovernmental organisation to receive the prestigious MacArthur Foundation Award for Creative and Effective Institutions. Amongst other achievements, Innocent was the foremost authority on police reforms in the country and was a good team player

THE GREATEST TRIBUTE WE CAN PAY THIS NIGERIAN EXEMPLAR IS TO CONTINUE IN HIS WAYS BY BUILDING INSTITUTIONS AND STRUCTURES THAT WILL UPLIFT LIVES AND SERVE THE PURPOSE OF OUR TIME AND BEYOND

and an irrepressible Coalition builders. He was active with us when we established the African Security Sector Network (ASSN) and also played a central role in the work of the reputable polling body Afrobarometer - with CLEEN serving as its Nigerian base. Indeed, there is hardly any civil society organization in West Africa that did not feel Innocent’s impact, and by extension millions of lives that were impacted by their programmes. Long before he became the Regional Director for the West Africa Office of Ford Foundation, he championed several civil society projects including serving as a consultant for DFID in 2008 to design one of its development interventions projects in Nigeria. As a director of the Ford Foundation office for West Africa, Inno facilitated partnership with the MacArthur Foundation and the Open Society Initiative for West Africa (OSIWA) to support President Muhammadu Buhari administration’s anticorruption agenda, especially the Presidential Advisory Committee Against Corruption (PACAC). The support received from these donor agencies accelerated the work of PACAC and the anti-corruption drive of the present administration. As an institution builder, Innocent was instrumental to the establishment of several activist institutions and Civil Society Organisations (CSOs) in Africa. He was the Head, Police Research Project (January 1992 – June 1994), Director of the International Advocacy Program (February 1994 – December 1997), and Acting Executive Director (July 1995 – December 1996) at the Civil Liberties Organisation, unarguably Nigeria’s first human rights organization, where he mobilised intergovernmental organisations to sanction military regimes in Nigeria, especially those of Generals Babangida and Abacha dictatorships. This was a period when human rights were severely trampled upon by the military juntas. Inno also served in various capacities on boards and advisory bodies of international policing and criminal justice organisations, including: Chairperson, Transition Monitoring Group (July 2005 – June 2007); Lead Consultant, Voluntary Policing Sector, DFID’s Justice for All Programme (J4A) in Nigeria (April 2011- December 2012); Board Member, the International Centre for the Prevention of Crime (ICPC); Board Member, African Policing Civilian Oversight Forum (APCOF); Board Member, Open Society Global Criminal Justice Fund; and Member, Africa Advisory Council of Human Rights Watch. He was also the chair of the Altus Global Alliance, a global network of nonprofits. Innocent was gregarious and boisterous, yet patient and gentle all at once. He was infectiously witty, and at the same time deeply caring about people. He was irreverent of power structures when the occasion demanded, but also knew how to court the powers that be and mobilise stakeholders towards achieving any developmental objective. That did not mean that such individuals would not attract his criticism in the course of time if they deviated from doing what was right. Not for him the lazy intellectualism of cloistered academics. He was very much at home lecturing in the hallowed precincts of some of the most prestigious institutions in the world, as he was mobilizing against wrong actions by governments at home. He was always in search of solutions in a variety of ways. When I met him, he was a young activist growing under the wings of Olisa Agbakoba and Ayo Obe, but in no distant period, he soon became a legend in Nigeria’s democratic struggle – indeed a phenomenon. At the time, Nigeria was in deep with state sponsored intimidation of people like Innocent who consistently spoke truth to power. Dr. Fayemi, CON is Governor of Ekiti State

THE DECLINE OF WESTERN CIVILISATION The West has its share of weird behaviour, writes Sonnie Ekwowusi

s you may be aware, the Joe Biden administration has recently instructed the U.S Embassies and U.S Diplomatic Missions across the world to fly the gay flag on same flagpole as the American flag. As I scribble this I am seeing online the American flag flying on the same pole as the Rainbow flag. Que barbaridad! It is amazing how shithole fornication has been arrogated as statecraft in the West. During the European’s colonization of Africa little or nothing was known about the early civilizations that flourished in ancient Egypt, Carthage and other parts of ancient Africa. At that time Africa was simply known as a “Dark Continent” where wild elephants and roaring lions lived together with the stone-age uncivilized Africans. Unfortunately this notion of Africa as a “Dark Continent” without civilization has not been reversed in many parts of the West. This is probably why whenever the CNN or the BBC is focusing on Africa it shows photographs of malnourished African children or African children suffering from kwashiorkor ostensibly as evidence that Africa is still backward. You see, the contributions of Africa to world history and world civilization have constantly been undermined against the Eurocentric assumptions and myths that the West is the sanctuary of the ideals of civilization. This is incorrect. The West still has its own share of savagery, animalism, uncultured behavior, and backwardness. For example, looking at American history, the American courts have been more inclined to protecting marriage between a man

and a woman as the foundation for inculcating moral character in and undergirding American civil society. For example, in 1823 Court decision, John Marshall held that the “sacredness of the connection between husband and wife” would pave the way for a harmonious American society. In the late 1885, Justice Stephen J, Field declared for the US Supreme Court, “No legislation can be supposed more wholesome and necessary in the founding of a free, self-governing commonwealth…than that which seeks to establish it on the basis of the idea of the family, as consisting in and springing from the union for life of one man and one woman in the holy estate of matrimony; the sure foundation of all that is stable and noble in our civilization; the best guarantee of all that reverent morality which is the source of all beneficent progress in social and political improvement.” But unfortunately today shithole fornication and “marriage” between a man and a man or “marriage” between a woman and another woman have been legalized in America and most parts of Europe. Shithole fornication and same-sex marriage are repugnant to African sensibilities but in the West these barbarities have been legalized and imbibed as acceptable human conducts in the name of human right or right to privacy or sexual orientation regardless of the fact that the prestigious European Human Rights Court had ruled in 2015 that shithole fornication and gay marriage are not human rights. Despite this judgment President Biden on coming to power wasted no time in making LGBT1+ the centerpiece of American foreign

policy. He has now ordered that the American flag must be flown together with the LGBT1+ flag. What point is President Biden trying to make, if I may ask? If he and others at the White House are pro-gay or have turned the White House into a Rainbow House, why desecrate American flag and American international image? The national flag of any nation both in international law and in diplomatic circles is not just a mere symbolic representation of the nation but the way the nation portrays itself and its image to the rest of the world. By flying the American flag alongside Rainbow flag, President Biden is portraying America as a homosexual/lesbian country. America used to be appealing to all mankind. America used to be a role model to the rest of the world. By turning America into a gay country President Biden has violated the principles of diversity, inclusiveness, non-discrimination and, above all, the principle of equality enshrined in the American Constitution. America is a multilingual, multi-racial, multicultural and multi-religious society. Many states, institutions, agencies, religions, incorporations in the U.S have their respective flags. There are the Christian flag, Pentecostal flag, Evangelical flag, pagan flag, Satan flag, Presbyterian flag, Buddhist flag, Vatican flag and so forth in the U.S. Besides, America is a secular nation. Therefore it is illogical, illegal and unconstitutional for the Biden administration to choose to fly only the gay flag alongside the American flag. We eagerly await the American Supreme Court judgment on this. It is obvious that since the end of the cold war a

new global cultural revolution-dissemination of new secular ethics, deconstruction of Judeo-Christian anthropology, radical feminism-has ferociously been sweeping across the West. In her seminal work with the title: The Globalization of the Western Cultural Revolution, Marguerite Peters writes that the socio-political dysfunctions confronting governance in the West today stems from a new global cultural revolution. To Peters, Western civilization is suffering the consequences of the widespread new global Cultural Revolution. Why? Because the new global Cultural Revolution has led to the legalization of shithole fornication, safe-sex proselytization in schools, anthropological cataclysm, existential and marital infidelity, marital divorce, abortion, euthanasia, disintegration of the family and so forth in the West. The extent of these dysfunctions, writes Peters, has become so great that an anthropological cataclysm has been unleashed in the West. For example, the anthropological or biological difference between a man and a woman has been blurred in the West. The identity or sex of a man or woman is now a social construct not a biological construct anymore. A woman can claim to be a man. A man can claim to be a woman. A man who feels he is a woman can now enter a female toilet at will and use it. Conversely a woman who feels that she is a man can freely enter a male toilet and use it. In many schools in the U.S and Canada today boys who claim to be girls are being admitted in girls’ schools to be sharing hostels and shower rooms with the girls and competing with them in Inter-Hostel Sports competition.

T H I S D AY • WEDNESDAY, MAY 12, 2021

EDITORIAL COMMITTING CRIMES WITH UNIFORMS The recruitment process should be rigorous and thorough

hree policemen in the Ogun State Command were last week dismissed from service for forcefully extorting the sum of N153,000 from a man travelling from Abeokuta to Lagos. “The money was recovered from them and returned to the victim,” said the Commissioner of Police, Edward Awolowo Ajogun. “They were subsequently arraigned for departmental orderly room trial on a three-count charge of corrupt practices, discreditable conduct and disobedience to lawful order.” This is a recurring problem that needs to be addressed more holistically. Three years ago, the then Department of State Services (DSS) Director of Operations, Godwin Eteng, told a House of Representatives public hearing that staff recruited into the armed forces and other security agencies of government are selling arms to bandits thereby worsening the national security challenges. Eteng further recalled that in an armoury belonging to one of the armed forces, new pistols with quantities of ammunition got missing even though the armoury THERE ARE TOO MANY was never burgled. BAD EGGS WITHIN THESE Yet as scary as those SERVICES THAT NEED TO BE revelations were, WEEDED OUT they appear to be the new normal as hardly a day passes without some personnel of the security services reportedly being involved in alleged heinous crimes. There are several reports of policemen employed to protect the lives and property of the citizens compromising their responsibilities by opening their armoury to criminals to use against the state. More recently, a Police Sergeant at Oworo Police Division, Lagos and a retired Assistant Superintendent of Police were arrested for armed robbery. In many of the states where kidnapping has become a daily trade, citizens are accusing the police and other security agencies of compromise.

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

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Letters to the Editor

hen the alleged kidnap kingpin, Chukwudumeme Onwuamadike, aka Evans, was arrested in 2015, an Army Lance Corporal was alleged to have received various sums of money running into several millions of Naira in three installments as his share of the ransom paid by some of the victims he assisted in kidnapping. Three years ago, three serving soldiers from 9 Brigade Military Headquarters, Ikeja and one dismissed Air Force personnel were among those arrested after a robbery operation. The serving soldiers who were arrested in uniform were reportedly handed over to the army authorities at the Brigade Military Headquarters, Ikeja, for disciplinary action. They were tried and summarily dismissed. In the same week, a soldier who left his Division One, Nigerian Army Base, Maiduguri on Absent Without Leave (AWOL) for fear of being killed by insurgents, was arrested while waiting to deliver a stolen vehicle to another member of a robbery syndicate in Oyo State. Across the country, the prisons where convicts and suspects are sent for punishment or custody have over the years become sources of internal security threat thanks to fire incidents, jailbreaks, and armed terrorist attacks. But, as it also became evident in the 2016 Kuje jailbreak, the most dangerous development is the connivance of some prison staff in aiding these criminals to execute their evil acts with precision. Following the Kuje incident, 14 officers were suspended while the Civil Defence, Fire, Immigration and Prisons Services Board (CDFIPB) approved the suspension of four senior officers. The Comptroller-General of Prisons also suspended 10 junior staff over the incident. While we reiterate our call for professionalism among men and officers in the armed services, it is also important for the federal government to recognise that there are too many bad eggs within these services that need to be weeded out. But much more importantly, what that entail is that there should be a more rigorous due diligence in the recruitment process so that the state does not continue to give arms to criminals who endanger the society.

TO OUR READERS Letters in response to speciﬁc publications in THISDAY should be brief (150-200 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 (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

BETWEEN AMAECHI AND HADIZA BALA-USMAN

he Rotimi Amaechi and Hadiza Bala-Usman fight is a personal one and a power tussle. In 2016, Hadiza’s appointment as Managing Director of Nigerian Ports Authority generated some grumbles from some quarters - many people suggested that Hadiza was appointed because of the Minister of Transportation and Governor Nasir el-Rufai’s influence – and President Buhari will always give the duo whatever they wanted. In 2021, things have changed. Amaechi is now accusing Hadiza of being disloyal. He has been complaining that she is arrogant and that he would cut her wings. And he did - by getting her to ‘step aside’ to allow for a probe of the NPA. The probe-panel has already been inaugurated with some wide mandate which includes examining and investigating the administrative policies and strategies adopted by Hadiza-Usman, and confirm compliance with extant laws and rules from 2016 till date. Many officials of the President Muhammadu Buhari administration and some members of the All Progressives Congress (APC) have also accused Hadiza of being arrogant and often displaying an attitude of ‘The Lady of the House’. Notwithstanding the accusations against her, Hadiza has brought some extraordinary development in the NPA. She saved the SHIN’s fabrication and integration yard of which $270 million was borrowed for the project; the stoppage of INTELS’ monopoly of oil and gas cargo and the compliance to TSA, the stoppage of the contract scam; SAA fees on the Calabar dredging. She has also sanctioned LADOL for violating the terms of the land lease at Tarkwa Bay, near Light House Beach in Lagos. These are Hadiza’s notable achievements in four years plus. The fight between Hadiza (a head of an agency) and Amaechi (a

Minister)is not new in the APC government led by President Muhammadu Buhari. There was that of Dr. Baffa Bichi of TETFUND and Mallam Adamu Adamu, Education Minister. Ibrahim Magu of the EFCC and Abubakar Malami SAN, Minister of Justice and Attorney-General of the Federation, Gur Muhammad of Transmission Company of Nigeria (TCN) and Sale Mamman, Power Minister, Saleh Dunoma of FAAN and Hadi Sirika Aviation Ministry). Others are Munir Gwarzo SEC DG and Kemi Adeosun, former Finance Minister, Prof. Usman Yusuf, NHIS and Isaac Adewole, former Health Minister. As well as many other in-house fights that haven’t been in the public. The big surprise is none of the heads of the agencies survived their minister’s onslaught. Would Hadiza survive Amaechi’s hammer? On the other hand, heads of agencies should learn the art of balancing of loyalty and power-sharing, while ministers should also allow heads of agencies to do their jobs. President Buhari is a man that seems not to have an interest interfering in such ‘fight’ to save the heads of agencies. If Amaechi succeeds in removing Hazida as MD of NPA, we may see many of this kind of ‘probe’ by ministers. If Hadiza succeeds in returning back, she may be more ‘disloyal’ to Amaechi and not forthcoming to those who have earlier accused her of being arrogant. And, at the end, the fight between Amaechi and Hadiza would definitely translate into bigger political and supremacy battles between many parties both in and outside the APC. The big picture: this is a big low for the Buhari government in terms of public image and politics of the APC. Zayyad I. Muhammad, Abuja

STOP

FIGHTING

h, come on! Why are the Palestinians and Israelites fighting and killing people? Isn’t the COVID vaccine already killing enough people? This is one of the few times the world has united to achieve one outcome - defeating COVID and yet some people still want to fight. Stop for a while and work on stopping the pandemic. Don’t worry there will still be plenty of time to fight later but if we don’t stop the pandemic there might not be enough people left to fight. Dennis Fitzgerald, Melbourne, Australia

WEDNESDAY MAY 12, 2021 •T H I S D AY

WEDNESDAY MAY 12, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY MAY 12, 2021

MIDWEEKPOLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

Training Legislators for the Fight against Corruption Udora Orizu writes that in a bid to boost operational capabilities of lawmakers in carrying out its oversight function, Konrad-Adenauer-Stiftung in partnership with House of Representatives Committee on AntiCorruption recently organized a capacity building programme for members of the committee

Kreck

Gbajabiamila

Garba

to effectively discharge its duties. Garba, represented by the Deputy Chairman, Hon. Bagos Dachung said that the importance of capacity building in human life cannot be overemphasised. He said that the target was to broaden the knowledge of the participants. “We all know the dynamics of corruption; hence we need to try every available means to tackle it. This capacity building for lawmakers on Anti-Corruption is a crucial component of this 9th House of Representatives Legislative Agenda on Anti-Corruption,’’ he added

I always make out time to attend the hearings and I will see tonnes of materials, which are presented to the lawmakers. “I don’t know how much research support the lawmakers have to untap the documents so that information there can actually made sense and assist you to do what you’re set up to do. Some people bring these documents in Ghana-must-go bags. I just look at it and shake my head. I say to myself, nobody is reading these things. It’s the same thing being requested over and over again from these institutions. These kind of things diminish the importance of the process. It gives the impression that you just give it to them they won’t look at it. The legislature has the power to investigate and expose corruption at all levels of government. The fight against corruption is our collective responsibility. It’s not the duty of the executive alone. We are happy that the National Assembly understands this and takes up this responsibility as well.’’

he 1999 Constitution of the Federal Republic of Nigeria places enormous responsibility on the legislature as far as the control of public funds is concerned. Under it, there are constitutional, political and operational mechanisms specifically empowering the legislature to hold those saddled with the responsibility of executing laws made by it as well as expending resources appropriated by it accountable. The legislature is the main institutional anchorage provided for in the Constitution for the fight against corruption, hence the legislature is equipped under the Constitution to serve as effective check on the executive and its administrative agencies in all aspects of public administration. This oversight power as conferred on the National Assembly by the constitution enables lawmakers to expose corruption, inefficiency, or waste in the execution or administration of laws within its legislative competence and in the disbursement and administration of funds appropriated by the Acts. As they represent the people, the lawmakers are expected to be exemplary in performing their duties and to adhere to the highest standards of integrity. On assumption of office June 11, 2019, the fight against corruption was one of the priorities listed in the legislative agenda of the 9th House of Representatives. The Speaker, Hon. Femi Gbajabiamila on October 2, 2019 inaugurated 105 standing committees, saying the House intends without reservation, to exercise full authority of the legislature as it relates to the oversight of the Ministries Departments and Agencies (MDAs). Gbajabiamila, however, pointed out that the purpose of such oversight will not be punitive, neither are they intended to be adversarial, but in furtherance of the Green Chamber’s shared objectives of national development, peace, progress and prosperity for all. However, it appears that the legislature at all levels of government have been unable to adequately discharge the onerous duties devolved on it by the Constitution in this regard, as it appears that the oversight function has rather fueled corruption in MDAs. The oversight function of the National Assembly, is seen to have become an avenue for members to enrich themselves, thereby not yielding the desired change that Nigerians want to see in governance. One of the stakeholders involved in parliamentary strengthening programmes, Konrad-Adenauer-Stiftung in partnership with the House of Representatives Committee on Anti-Corruption, on May 6, held a capacity building programme for members of the committee. Before commencing the training, some stakeholders took turns to explain the role of the legislature in the fight against corruption and expectations from the lawmakers after the training. Hon. Garba In his remarks, the Chairman of the Committee on Anti-corruption, Hon. Shehu Garba said that the workshop was to help the committee

Independent Corrupt Practices and other Related Commission In his goodwill message, the Chairman of the Independent Corrupt Practices and other Related Commission (ICPC), Prof. Bolaji Owasanoye, picked holes in the performance of oversight functions by members of the National Assembly. Owasanoye said members of the National Assembly often request for tonnes of documents they cannot review in the course of their oversight. He said: ‘’The oversight function and power of the legislature enables it to take an actual role in understanding the performance of other arms, especially the executive arms. There’s a perception out there that the legislature is either reactive or trying to put out fires and preventing the fires from going out and sometimes dramatic in its approach to oversight functions. ‘’Nevertheless, this oversight functions is critical and very important much more to ensure that we don’t get to where we’ve found ourselves today. The legislature is increasingly stepping up its oversight of Ministries, Departments and Agencies (MDAs) in recent times. There should be concrete reforms where you get to ask concrete questions that you must answer. With that, so many people will seat up and if they don’t like the capacity of the jobs they take, then they should resign and leave the place. ‘’Another thing is the power of investigation, as enshrined in the constitution. Now, this again is very important. However, with all due respect, in recent times, we have seen committees asking for documents all the time.

Hon. Akpatason Countering Owasanoye’s assertions, the Deputy Leader of the House, Hon. Peter Akpatason before presenting the Speaker’s speech said in most cases, agencies supply documents that were not relevant or fail to provide the relevant documents. He said whatever that’s done in the National Assembly goes into the records. His words, “Debates are recorded in votes and proceedings, and documents are available in the Senate and House of Representatives. Secondly, oversight functions by the legislature, in this country in particular has been grossly misunderstood by a lot people. Actually what happens in most cases is that not the legislators that make oversight activities hard but the resistance by agencies who actually have so much to hide and that’s what is responsible for dumping of volumes of documents both relevant and irrelevant documents on the parliament so as to create that challenge for distilling those documents and information to be able to make sense out of it, in those cases request for submission of documents is either deliberately delayed or the ones presented are not the requested ones.’’

Nigeria with its oil and gas industry, billions of dollars flood into the country and especially the state’s coffers every year, could be one of the richest in sub-Saharan Africa, however the country faces immense challenges. According to him, the endemic corruption which has been depriving the country of the resources it needs to develop is largely to blame for the current state of affairs. He said, ‘’In this light, the fight against corruption is one of the biggest challenges that Nigeria faces today. It is, in fact, the key to development. In this regard, the role of the legislature is not to be underestimated

Owasonoye Speaker Gbajabiamila The Speaker of the House, Hon. Femi Gbajabiamila on his part urged anti-graft agencies to organise capacity programmes for legislators to ensure an effective fight against corruption in Nigeria. Gbajabiamila said that Nigerians were desirous of good governance and were looking up to the legislature to serve as agents that would help combat poverty, corruption and other challenges in the country. According to him, the House is working on plans on anti-corruption legislation and the possibility of establishing special anti-corruption courts. He said the House was also considering strengthening the fight against corruption through increased funding for anti-graft agencies and separation of powers through a constitutional amendment to separate the office of the Minister of Justice from that of the Attorney-General. Vladimir Kreck In his welcome address, the Resident Representative Konrad-Adenauer-Stiftung, Dr Vladimir Kreck said Nigeria with its oil and gas industry, billions of dollars flood into the country and especially the state’s coffers every year, could be one of the richest in sub-Saharan Africa, however the country faces immense challenges. According to him, the endemic corruption which has been depriving the country of the resources it needs to develop is largely to blame for the current state of affairs. He said, ‘’In this light, the fight against corruption is one of the biggest challenges that Nigeria faces today. It is, in fact, the key to development. In this regard, the role of the legislature is not to be underestimated. It is the assignment of the National Assembly not only to set the legal framework for an effective fight against corruption in Nigeria, but also to put a successful oversight in place to uncover corrupt forces in the Government and to contribute in this way to the President’s commitment to eradicate corruption in Nigeria.’’ NILDS DG In his goodwill message, Prof. Suleiman Abubakar, Director-General, National Institute of Legislative and Democratic Studies stressed the need for a change of narrative of the legislature. According to him, there is a need to change the narrative that the parliament aims to undermine the strength of anti-graft agencies. “The legislature is doing so much to assist the anti-graft agencies in achieving their mandate through oversight activities and other processes of the National Assembly. It rests on those agencies to work well with the National Assembly by ensuring that those procedures are carried out appropriately and Legislature performs its role, especially in oversight which is key and cumbersome. Not only by cooperating but also canvassing for the National Assembly to get all the support it needs and requires to perform its duties,’’ he said.

T H I S D AY ˾ WEDNESDAY MAY 12, 2021

POLITICS

Lagos Lawmaker Accussed of Hoarding Palliatives Restitutes at Ramadan

GOVERNANCE IN PHOTOS

Tosin Clegg writes that Hon. Sherifat Mojisolaoluwa Alli-Macaulay, member, Lagos State House of Assembly representing Amuwo Odoﬁn 1 Constituency who was accussed of using COVID-19 palliatives meant for constituents as part of her birthday gift pack has a history of charitable deeds which deepens in the last days of Ramadan

Alli-Macaulay

on. Sherifat Kehinde Mojisolaoluwa AlliMacaulay who is the lawmaker representing Amuwo Odofin Constituency I and Chairman, Lagos State House Committee on Women Affairs, Poverty Alleviation and Job Creation has continuously and effortlessly proven to be for her people and works tirelessly to support, empower and use all the resources available to her to do her utmost best. She has an unquenchable passion for social justice, making a tangible difference in the community, resolving people’s problems and also sharing in the weight of their historical, political and socio economic burden. Alli Macaulay began her political career in 2010, with prior experience in handling leadership positions. Amidst her good will and efforts towards governance the controversy of an alleged use of palliatives for her personal use drew negative attention her way late last year. Going further to a push for her recall which was driven with full force. She has however maintained transparency since the situation developed and in an honest effort to dispel the rumor that she used the palliative items meant for her constituents for her birthday celebration last year stating, “I didn’t use palliatives for my birthday. The ceremony was for my birthday and women empowerment and was a coincidence that 90 boxes of indomie off the palliatives came at the time and had to be shared anyway to the rightful owners. I’m a woman of compassion. I cannot take what’s meant for my people! Even before I became a member of the Lagos State House of Assembly in 2019, I have always touched people’s lives.” Mama Amuwo as she is fondly called said, “On my part, my office has reached out to over 3000 people through our empowerment programmes and this holy month of Ramadan is not any different as we will be reaching out to over 1000 women.” According to her, this is the time to remain faithful to God and to forgive one another. It is also a time to ask for forgiveness especially in these last 10 days of this glorious

month to worship and get close to Allah. Alli-Macaulay also prayed for the peace and unity of Lagos State and that of the country generally. She will also be giving out free meals to her constituents in her office in Amuwo-Odofin to break their fast. In the spirit of Ramadan, she will be giving out food items to several people in the next few days, apart from others that will be fed before the end of the holy month. For her, Ramadan period is a time for everybody to show love to neighbors, especially those that are in need, Ramadan is also a good time to pray for Nigeria and the rest of the world against insecurity, poverty and the dreaded Coronavirus pandemic. The lawmaker said that food items that were available for distribution to the people include milk, milo, sugar, spaghetti, garri, semovita, noodles, just to mention a few. She noted that the gesture was not from the assembly but that she was doing it personally. Mojisolaluwa has inspired and empowered thousands of women, children and youths and also pointing them in the direction of positive change in their immediate environment, society and towards nation building. And that’s why she uses every avenue and opportunity to give effortlessly and cheerfully. She admonished the people to develop a heart of giving and help the people around them, especially those who are in need. Alli-Macaulay said that the essence of Ramadan was for Muslims to put themselves in the position of those that were hungry so that they could know how it feels to be in need. Stating that, “Just like Prophet Muhammad (SAW) said that anytime we are in the Ramadan period, we should always remember that there are some people somewhere who do not have food to eat. So whatever you have and no matter how little it is; we should try to share it with the people around us.” For Alli Macauley her act of benevolence is not about politics, religion, gender and that there should be no sentiment in doing things to worship Allah. Alli-Macaulay noted that last year, she gave out pepper grinding machines, sewing machines, hairdryer sets, popcorn machines to empower several women. Concluding she mentioned, “It is not about sentiment, I am just passionate about helping people and putting smiles on their faces. Like I will always say, adding growth to humanity Is greater through political participation, good conscience, diligence and women empowerment” –Alli – Macaulay, so it is important to give women 35 percent chance when considering people for positions of authority especially at all levels of government, according to the accord reached at the Beijing Conference in China, while making reference to the forthcoming local government elections in Lagos State, Alli - Macaulay said that more women should also be encouraged to take advantage of the opportunity of the forth coming local government elections, adding that discrimination against women should be eliminated in our society.”

Delta State Governor, Mr. Ifeanyi Okowa; Ondo State Governor, Arakurin Rotimi Akeredolu; Ogun State Governor, Prince Dapo Abiodun and Lagos State Governor, Mr. Babajide Sanwo-Olu during the Southern Nigeria Governors Forum meeting held at Delta State Government House, Asaba on Tuesday

L-R: Dr. Amobi Nwokafor, an Institute of Chartered Accountants of Nigeria (ICAN) member, Reverend Samson Disiu, Council Coordinator of ICAN, Awka and District Society, Mr. Chukwuemeka Oriaku, the newly inaugurated Chairman of ICAN, Awka and District Society and Valentine Ozigbo, Peoples Democratic Party aspirant for the 2021 Anambra governorship election, at Mr Oriaku’s inauguration at Cihcotel Classique Hotel, Awka

L-R: Member Ekiti State House of Assembly, Hon. Teju Okuyiga; Ekiti State Governor, Dr. Kayode Fayemi; and Abia State Governor Okezie Ikpeazu; during the burial service of retired Commissioner of Police, Chief Benjamin Adeniyi Olatise in Aisegba- Ekiti

Osun State Governor, Mr. Adegboyega Oyetola; his wife, Kafayat; Chairman, Trade Union Congress Osun State Chapter, Comrade Adebowake Adekola and Chairman, Nigeria Labour Congres, Comrade Jacob Adekomi, decorating Governor Oyetola for his andmark achievements in the state, as part of activities marking year 2021 Workers Day, at the Government House, Osogbo

T H I S D AY ˾ ͯͰ˜ ͰͮͰͯ

FEATURES

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

Pogrom in Nasarawa Local government areas of Doma and Keana in Nasarawa State have come under siege of bandits suspected to be herdsmen, whose stock in trade is to invade the Tiv communities, kill the farmers and villagers, as well as displace the living from their ancestral homes, reports Igbawase Ukumba

One of the burnt households during the Ajimaka attack

he rise in insecurity in the local government areas of Doma and Keana in Nasarawa State could be attributed to the influx of persons suspected to be bandits, masquerading as herdsmen, to the council areas as a result of their displacement from other parts of the country. Unfortunately, the evil men seem to be enjoying some degrees of patronage and support from their local collaborators in the communities, thus worsening the situation. Coordinated Attacks Consequently, on April 23, 2021 suspected herdsmen launched a coordinated attacks on Tiv farming community of Ajimaka, in Doma Local Government Area of Nasarawa State, killing 14 Tiv farmers, who included majorly women and children. This was even as several persons were declared missing, while scores sustained various degrees of injuries as houses belonging to the Tiv farmers were burnt by the bandits during the invasion. Also, the militia herdsmen also circulated quit notices to the Tiv farming community in the two local government areas of the state to vacate the axis or face total annihilation. The threat led to the displacement of over 50,000 Tiv farmers from their ancestral abode from the two LGAs. The suspected militia herdsmen, who were said to be carrying sophisticated weapons, invaded the community at about 2:00am of that fateful day, shooting sporadically, killing majorly women and children

despite their efforts to scamper to safety during the invasion. An eyewitness gave names of some persons massacred during the attack to include Tsekaa Chiatyo (m), Kwaghdoo Tsekaa (f), Sewuese Tsekaa (f), Bobo Chiatyo (m), Aondoseer Fidelis (m), Aboyi Aduku (m) and Mwuese Aseer (m). The Governor's Assurance Consequent upon the Ajimaka massacre, the Governor of Nasarawa State, Abdullahi Sule, condemned in strong terms the brutal killings of women and children during the attack on Ajimaka village by the gunmen. In a statement signed by Governor Sule's Chief Press Secretary, Ibrahim Addra, Sule was quoted in the statement as describing the act perpetrated by the gunmen as reprehensible, callous and inexcusable. The governor said: "An attack that does not spare women and children bears the trademark of devilish elements who are bent on truncating the relative peace in the state." Sule however assured that security operatives have since commenced investigations that will expose the criminals with a view to punishing them according to the laws of the land. “My condolences and prayers are with families of those whose lives were lost. I urge them and the rest of our citizens to be rest assured that this administration will do all within its power to ensure justice, peace and security across the state. I therefore call for calm and support to law enforcement agents in the collective fight against evil."

Displaced persons

Recurrent Decimal at Border Towns In the same vein, President of Tiv Development Association (TIDA) in Nasarawa State, Comrade Peter Ahemba, confirmed the incident, while speaking with journalists in Lafia, describing the attack as unprovoked and unfortunate. He regretted that the attacks on the Tiv people of the state, particularly those living at the border areas between Benue and Nasarawa States have become a recurrent decimal despite efforts by the Nasarawa State Governor, Abdullahi Sule and his Benue State counterpart, Samuel Ortom to ensure lasting peace on the borderline of the two states. "Each time the herdsmen have issues relating to implementation of the anti-open grazing law by the Benue State government, they come and attack our (Tiv) people in Nasarawa state. We are indigenous Tiv people of Nasarawa State. We are peace-loving people and the herdsmen must stop attacking our people for things they know nothing about," Ahemba said. The Tiv leader lamented that the ugly development has led to the displacement of thousands of Tiv farmers in the area, regretting that the incident was happening at a critical time farmers were set to commence the current farming season. While acknowledging efforts by the Nasarawa State government to ensure peace and security at the border areas of the state, the TIDA President appealed to the state government to direct deployment

of security operatives to the trouble area to forestall further breakdown of law and order. He however called on the Tiv people of Nasarawa State to remain calm and avoid taking laws into their hands despite the unprovoked attack as the state government was taking measures to restore normalcy in the affected areas. Unfruitful Effort by Police, Security Forces When the Nasarawa State Police Command was contacted over the killings earlier, the Police Public Relations Officer of the command, ASP Nansel Ramhan, said the command was yet to receive any report on any occurrence of such an incident from the area. However, later in the day the command came up with a press statement which the Commissioner of Police, Bola Longe, said the police received a report about the attack around 6:00a.m on Saturday and immediately mobilised personnel to tackle the situation. In the statement signed by the Command's Police Public Relations Officer, ASP Ramhan Nansel, on behalf of the state Commissioner of Police, read: "On 24/4/2021 at about 0600hrs, information was received on same date that at about 0100hrs, unknown assailants attacked Ajimaka village situated at Nasarawa/Benue boundary, Doka district of Doma LGA. Upon receipt of the information, a joint team of police and military personnel were deployed to the scene, where nine corpses were recovered; each with multiple machete cuts." The statement further said the

T H I S D AY ˾ ͯͰ˜ ͰͮͰͯ

FEATURES

Some of the displaced persons

proceeding to Daudu town in Guma Local Government Area of Benue State. Speaking to journalists during a visit to Kadarko town where some of the Tiv farmers were taking refuge, the Nasarawa State TIDA president, Comrade Peter Ahemba said the situation was so pathetic as can be seen by all. He continued that the people were in very deep pains as they were displaced as a result of the crisis in Doma South. He also appealed to them to remain calm as the state Governor, Abdullahi Sule, would respond immediately to their plight to ensure that peace returned back to their various communities. An elderly man, Mr Cletus Wanshima, who was among the displaced persons from Ajikamaka village, told our correspondent at the Kadarko Internally Displaced Persons (IDPs) camp that they woke up on that fateful Saturday to the attack on them by the herdsmen. "They just lay ambush on our people and started killing them. So we have to run for our lives. They have taken over all our houses and are burning and looting our valuables. They invaded our communities matcheting people with cutlasses and gunning down others with their AK-47 guns. They slaughtered a woman in Doka village in my presence, they also slaughtered a man in Ikyayior village," Elder Wanshima recounted.

CP had directed the Deputy Commissioner of Police in charge of State Criminal and Investigation Department (SCID) to move to the area and conduct a comprehensive investigation to unravel the mystery behind the attack and arrest the perpetrators. Sadly, despite deployment of the joint team of police and military personnel to the crisis area, as well as the drafting of the Deputy Commissioner of Police in charge of State Criminal and Investigation Department, reports had it that killings of the Tiv farmers and burning of their houses continued unabated. Statistics Hitherto, the number of persons killed by the suspected herdsmen in the state was reported to have risen to 14 persons as confirmed by chairman of the Ate U Tiv Unity Forum, Bernard Ikyeghna, to THISDAY. He explained that apart from the 11 persons that were massacred in Ajimaka in Doma LGA of the state, two other deaths were recorded in Keana Local Government Area of the state from different attacks which an elderly man was macheted and was receiving treatment in one of the hospitals in the state. According to the Chairman of the Ate U Tiv Unity Forum, "in Keana Local Government Area, one Sabastine Agbaka, an undergraduate of the Nasarawa State University, Keffi was murdered in the Kadarko axis of the council area. Also in Dooshima village, Fidelis Abanka was declared missing when gunmen stormed the area, this was just as at Shatse village, Andrew Yough is lying critically in a hospital as the killer herdsmen attacked him." It was also gathered that a senior staff with the Doma Local Government Area was also reportedly murdered by the suspected herdsmen while going to work from his abode to the council area's headquarters in Doma.

The displaced persons in Nasarawa

Displacement from Ancestral Homes As there was reported sustained attacks on Tiv farmers' settlements by suspected militia herdsmen in both Doma and Keana Local Government Areas of the state, no fewer than 50,000 Tiv farmers in about 13 village settlements were reported to have been displaced from their ancestral homes in Nasarawa State. The displaced Tiv settlements were Dooshima, Antsa, Dooka, Angwan

Yara, Ikyayior, Targema, Tse Tor, Chia, Umurayi, Dooga, Gindan Rai, Ajikamaka and Ankoma all in Ekye Development Area of Doma South in Doma local government area of Nasarawa State. They were said to have been displaced by the rampaging herdsmen and were taking refuge at Kadarko town in Keana LGA and Agyaragu town in Lafia LGA both of Nasarawa State. Others were taking refuge in relations/friends houses in Kadarko and Agyaragu, while others were

Appeal He however lamented the terrible condition in the IDPs camp and called on the government of Nasarawa State and as well as well to do spirited individuals to come to their support. Wanshima said: "We are faced with the problem of feeding even as we sleep on bare floor since our arrival in the camp. We don't have mattresses or mats. It is quite a difficult situation as we are exposed to mosquitoes and all kinds of insects and reptiles during the day and night."

WEDNESDAY MAY 12, 2021 •T H I S D AY

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

REPO 15.25 14.75

CALL 1-MONTH 3-MONTH

14.75 16.50 17.50

A S

A T

S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

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

M A Y 506.41% -0.15 -1.16%

7 ,

S & P INDEX 1/4 TO DATE YEAR TO DATE

2 0 2 1 -9.37% -24.45%

EXCHANGE RATE N379/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes NCDMB Holds STIC Regional Finals

The Nigerian Content Development Monitoring Board (NCDMB) has held its Southern/Eastern Science and Technology Innovation Challenge (STIC), at the board’s headquarters in Yenagoa, Bayelsa State. According to the NCDMB, the competition seeks to motivate and challenge Nigerian undergraduates to imbibe the culture of research and development as well as apply science, technology and innovation to create home-grown business solutions to everyday problems in Nigeria. In his opening remarks, General Manager, Capacity Building Division, NCDMB, Dr. Ama Ikuru, noted that the innovations will go a long way to help in the domiciliation of capacity and also improve lives. He added that the board has continued to back vocational schools in a bid to support and promote skill acquisitions even at an early age. He congratulated all the contenders from the southern/eastern region, noting that they are winners to have reached the ﬁnal phase of the challenge. The acting Executive Secretary, NCDMB, Mr. Patrick Obah, as well as the judges later toured the innovative works that were on display at the venue.

TSI to Empower One Million Children

COURTESY VISIT

Chairman, BUA, Abdul Samad Rabiu, (left), with the new Commander of Nigerian Navy Ship Beecroft, Commodore Bashir Mohammed, during the latter’s visit as the new commander of NNS Beecroft to BUA’s headquarters in Lagos…recently

Advertising Regulation: APCON Takes Step to Deepen Operational Standard Raheem Akingbolu The Advertising Practitioners’ Council of Nigeria (APCON), has tasked leaders of sectoral bodies in the marketing communications industry to brace up and cooperate with various regulatory committees of the council to strengthen operational standards in the country’s advertising landscape. The Registrar of APCON, Dr. Olalekan Fadolapo, who made the appeal during the inauguration of three committees in Lagos, charged members of the committees to develop appropriate strategies as well as deploy “out of the box” ideas/frameworks

ADVERTISING that will ensure that the Council fundamentally improves its regulatory mandates and service delivery. The Committees inaugurated were: The Advertising Standards Panel (ASP), The Advertising Code Review Committee, and The Advertising Industry Standard of Practice (AISoP) Committee. “I am convinced that the teams we have selected here today will approach this assignment with all sense of responsibility and commitment, and serve as enablers for the achievement of the Council’s success.

“I therefore charge all heads of the Committees to ensure that they leave no stone unturned in carrying out their respective assignments,” Olalekan said. The APCON boss explained that in executing the assignment, the Committees were expected to deliver well on their various tasks and within scheduled time as according to him, time was of the essence. He emphasised that the task before the Committees included: identifying peculiar sectoral challenges, suggest immediate and long term implementation policies, recommend action plans that will galvanise the industry and that will improve service

delivery and benefit stakeholders. The Code Review Committee and AISoP were expected to conclude their tasks within three months. He called on the entire industry to put all hands on deck to work together to make the industry an enviable entity. As part of the new strategic moves to deepen advertising practice and realign operations, the council announced Mrs. Omowunmi Owodunni, as the new Chairperson of the Advertising Standards Panel (ASP) - the Statutory Panel charged with the duty of ensuring that advertisements conform to the prevailing Continued on page 24

Insurers Engage States in Fight against Fake Motor Insurance Ebere Nwoji Insurance operators have opened discussions with five state governments to ensure that motorists get their insurance policy from genuine insurers. The Chairman, umbrella body of insurance underwriters, the Nigeria Insurers Association(NIA) Mr Ganiyu Musa, who disclosed this in Lagos, said aside their discussion with the Lagos State Government, the insurers are currently discussing with Kaduna, Niger, Kogi and Ogun state governments to ensure that motorists get genuine insurance cover at the point of

INSURANCE renewing their vehicle particulars at licensing offices across the aforementioned states. Before now, insurers do not have their representatives at the licensing office, a situation which served as opportunity for fake insurers to sell third fake third party motor insurance policy to unsuspecting motorists at any price. Musa, said the industry was embittered about what it is losing to insurance racketeers and non-insurance of vehicles, disclosing that, the association, on

behalf of the insurance industry, was engaging five states with plans to extend to other states as the time progresses. “We are also working closely with the state vehicle Inspection service on enforcement of third party motor insurance in the state. We are also engaging Niger, Kaduna, Kogi and Ogun States, and remain hopeful that other states will see value in the platform and embrace it. “Out of the estimated 13 million vehicles in Nigeria, only about 2,939,767 Third Party Motor policies are in force as at Apr 26, 2021,” he added. Musa, who is also the group

Managing Director/CEO of Cornerstone Insurance Plc, disclosed that the association was also partnering the Federal Roads Safety Corps(FRSC) and the police to give them access to the Nigerian Insurance Industry Portal(NIIP), such that, when a vehicle is apprehended, they can assess whether such vehicle carries fake or genuine insurance certificates. Speaking on the Nigerian Insurance Industry Database /Nigerian Insurance Industry Portal (NIID/NIIP), Musa said: “The Nigerian Insurance Industry Continued on page 24

The Stellar Initiative (TSI), a non-governmental organisation has announced plan to educate one million children on drug abuse. Also, it plans to give five million stationaries to students in disadvantaged communities across Benin, Kano, Oyo, Enugu, Kogi, and other parts of the country through its book tour and movie show project. The organisation in a statement issued recently, disclosed that with the project, students would be thoroughly educated on drug abuse, bullying, self-esteem; as it would leverage on the blockbuster movie, Nimbe which addresses issues associated with drug abuse. Speakingabouttheinitiative,theFounder,TheStellerInitiative,Precious Eniayekan, expressed satisfaction about the project, saying it would positivelyimpactpupilsofruralandurbancommunitiesacrossNigeria. “Studies according to UNICEF have shown that one in every five of the world’s out-of-school children is in Nigeria; this to us means that there’s a need for a major and urgent intervention in the Nigerian educational sector. “EveryNigerianchilddeservestherighttoqualityeducationirrespective of their financial capacities or geographical locations and this is why we do what we do. “We are elated to extend our reach to other regions of the country and are extremely thankful to all our donors and volunteers who have made this possible” she said. Further commenting, she expressed concerns on the need to increase intentionality on how children are raised especially within disadvantaged communities. “Sadly, several communities continue to degrade due to several blue factors ranging from an economic downturn to financial instability, to lack of security and lots more.

Saudi Aramco Beats Proﬁt Forecast

State-run oil producer, Saudi Aramco, has beaten analysts’ forecasts with a 30 per cent rise in its first-quarter net profit and maintained its dividend pay-out, helped by strong oil prices. Net income rose to $21.7 billion for the quarter to March 31 from $16.7 billion a year earlier even though Aramco was expected to post net profit of $19.48 billion, according to an average of estimates by five analysts, Reuters reported. “Given the positive signs for energy demand in 2021, there are more reasons to be optimistic that better days are coming,” Amin Nasser, chief executive of the world’s top oil exporter, said in a statement. “And while some headwinds still remain, we are well-positioned to meet the world’s growing energy needs as economies start to recover,” he added. Aramco, which listed in 2019 with the sale of a 1.7 per cent stake mainlytotheSaudipublicandregionalinstitutions,saidearningswere boosted by stronger crude prices and higher refining and chemicals margins, helping offset lower production.

“The Presidential Power Initiative is a comprehensive programme targeted at the grid, transmission, distribution and grid communications projects that will modernise the grid and unlock 25GW of stable operable capacity over the next five years” Minister of State, Power,

Goddy Jedy-Agba

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BUSINESSWORLD

NEWS

ADVERTISING REGULATION: APCON TAKES STEP TO DEEPEN OPERATIONAL STANDARD

Lagos Wants Partnership to Tackle Waste Management, Climate Change

laws of the federation as well as the Code of advertising ethics of the advertising profession. Owodunni is the first female to head the apex regulatory body’s statutory committee. She succeeded Mr. Charles Abraham who has been Chairman since 2015 and whose tenure witnessed remarkable achievements/developmental strides. Speaking on the appointment, the Registrar said the approval was a mark of confidence on the council by the government and at the same time it demonstrated the Council’s obligation to change the course of history. “We are delighted to vary and to be change makers. Women participation and leadership in the industry must be promoted and fostered so as to bring new perspectives to achieve further progress.

Hamid Ayodeji

INSURERS ENGAGE STATES IN FIGHT AGAINST FAKE MOTOR INSURANCE

database was established to reduce soft market practices and eliminate fake insurance policies. “The association has taken a step further by creating the Nigerian Insurance Industry platform to enable vehicle owners’ purchase their third-party motor vehicle insurance cover from the comfort of their homes and telephones. “So far, we are seeing a lot of traction on the platform across the states of the federation and we are hopeful that other states will key into the project before the end of the year.” On the Marine Module, he said: “As you are probably aware, the Central Bank of Nigeria has since integrated the NIA Marine Module into the National Trade portal and all insurance certificates required for import and export are generated from the Portal. This, no doubt, signals the end of fake Marine Insurance Certificates at the Ports.”

The Lagos State government is seeking the partnership of private and non-governmental organisations in its drive towards developing policies aimed at effectively tackling waste management and climate change issues. The administration revealed that it has been dealing with climate change and waste management through the Lagos State Environmental Protection Agency (LASEPA), the Lagos State Ministry of the Environment and Water Resources and the Lagos State Waste Management Agency (LAWMA), by not merely advocating and sensitising, but also by enforcing policies and regulations across the state. The General Manager Lagos State Environmental Protection Agency, Dr. Dolapo Fasawe, said this during a climate change stakeholders’ forum organised by the French Embassy in Nigeria, recently. Speaking at the event which held in Lagos, she said the state government remains dedicated towards partnering with private and public stakeholders in the waste management and climate change sector in order to ensure it generates and enforces policies that effectively address such

issues in the society. She also explained that the ministry of environment has taken a lot of proactive steps towards the forthcoming raining season, saying there are now primary, secondary and tertiary drainages being cleared on a daily basis in order to ensure free flow of waste and water during the raining season, thereby avoiding floods. “Also, we have six air quality monitoring machines in Lagos

which helps us acquire real time online data, and then we exchange these data with the American embassy. “In addition, in terms of physical economic impact we are seeing some companies have decided not to deal with companies that are not dealing with sustainability in their production,” she said. She further said: “Climate change is an enemy to economic

growth. Imagine all that was lost during the tsunami or floods, or when people spend so much time stuck in traffic due to flooded roads. “Or even health impact assessment as people are getting exposed to ultra-violent rays and getting cancer at a younger age because we are not properly treating our waste,” On her part, the Director, CmDesign Atelier, Tosin Oshi-

nowo, disclosed that Nigeria still builds with the same type of building materials used in the 1950s, such as concrete, saying that was not meant to be so. “We need to look at using more sustainable building materials that are appropriate and conducive for the environment that would keep cool during the day and warm at night while constructing buildings in this era.

MARKET REVIEW

L-R: General Manager, Biogenerics Nigeria Ltd, Osamede Uwubanmwen; Executive Secretary, Advertisers Association of Nigeria (ADVAN), Mrs. Ediri Ose-Ediale; Managing Director, Starcom Media Perspectives, Mr. Jude Odia; Service Line Lead, Innovation Marketing Strategy, IPSOS, Mr. Opeyemi Dairo; and Second Vice Chairman ADVAN/Head Marketing and Corporate Communication Stanbic IBTC, Mrs. Bridget Oyefeso Odusami, at the 2021 ADVAN Market Outlook held in Lagos...recently ETOP UKUTT

UPDC Board Seeks Loan from Majority Shareholders Goddy Egene Shareholders of UACN Property Development Company (UPDC) Plc have authorised its board of directors to enter into loan agreement with its majority shareholders - Custodian Investment Plc and UAC of Nigeria Plc - to discharge its outstanding debt obligations. UPDC, which used to be a subsidiary of UAC of Nigeria Plc, became a subsidiary of Custodian Investment Plc when the investment firm acquired 51 per cent stake last November. The company was recording

losses in recent time until it strengthened its capital structure with completion of the N16 billion rights issue, leading to an 80 per cent reduction its debt from N21 billion to N6 billion. But in order to discharge its outstanding debt obligations, the board of UPDC requested that the shareholders approve that the firm be allowed to enter into a loan agreement with its majority shareholders. The shareholders approved the special resolution at the annual general meeting (AGM), held recently. They authorised

the company, “to enter into a shareholder loan agreement with Custodian Investment PLC and UAC of Nigeria Plc for the provision of a shareholder loan required by the company for the discharge of its outstanding debt obligations;that in furtherance of the foregoing resolution, the company be and is hereby authorised to create a charge over such asset(s) of the company as the directors may determine, in favour of the majority shareholders as security for the shareholder loan.”

The company was equally authorised to create a charge over such its asset(s) as the directors may determine, in favour of the majority shareholders as security for the shareholder loan. The shareholders also authorised the directors to raise additional capital via the issue of debt instruments, preference shares or ordinary shares or a combination of any of these options whether by way of private placements, rights to existing shareholders or offer for subscription at a quantum and price upon such other terms and conditions to be determined at

the discretion of the directors and subject to any requisite regulatory approvals. They also authorised the directors, “to do all such acts as the board may deem necessary or incidental to effect the above resolutions, including without limitation, entering into the necessary agreements and complying with directives of any regulatory authority.” UPDC recorded a revenue of N1.662 billion for the year ended December 31, 2020, down from N2.157 billion and reduced its loss from N15.883 billion to N439 million.

NDPHC to Boost Power Supply to Delta Community with Injection Substation Peter Uzoho

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

The Niger Delta Power Holding Company (NDPHC) has begun the construction of a 1x7.5MVA, 33/11kV injection distribution substation in Orogun, Delta State, to boost power supply to the community. NDPHC disclosed this in a statement that was signed by its Head, Communication and Public Relations, Mrs. Olufunke

Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent

ËÒÏÏ× ÕÓØÑÌÙÖß (Advertising) Correspondents

Chinedu Eze (Aviation) ÜÙ×ÙÝÏÖÏ ÌÓÙÎßØ (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

ÙÝË ÖÏÕÒßÙÑÓÏ (ICT) Peter Uzoho (Energy)

Nwankwo. The statement quoted the Managing Director/Chief Executive Officer of NDPHC, Mr. Chiedu Ugbo, as saying during the groundbreaking ceremony of the project that the injection substation which is an NDPHC/ National Integrated Power Project (NIPP) intervention project, would also boost economic activities in the community. Ugbo, explained that the project

would step down power from the already existing 33KV line to 11kV, disclosing that the project involves the construction of 4km of 11KV line to distribute the power to the community. He said seven distribution transformers would be installed also in the community, stating that, with the injection substation in place, faults on the downstream line will not be allowed to trip the entire network.

He noted that the project followed the, “passionate” intervention of the Deputy Senate President, Senator Ovie Omo-Agege, to have the project in the community. Ugbo said: “We also discovered that it is not adequate for the community hence this purposeful intervention by Niger Delta Power Holding Company at the instance of the Deputy Senate President.” He added that NDPHC

had been engaging the Benin Electricity Distribution Company (BEDC) and had been assured by the Disco that the project aligns with infrastructure upgrade in the community. Also speaking at the event, Omo-Agege, said President Muhammadu Buhari was making significant efforts to end energy poverty in Nigeria by facilitating the provision of electricity to rural communities across the country.

FG Commends MAN on Job Creation Dike Onwuamaeze The federal government has commended the Manufacturers Association of Nigeria (MAN) for providing seven million jobs and contributing about $40 billion to national output. It also assured that the future of the manufacturing sector in the country has a positive outlook in spite of the current debilitating

factors. The federal government’s commendation was conveyed by the Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, at a ceremony that marked the celebration of the MAN’s 50th anniversary, recently, with the theme “Building a Resilient and Competitive Manufacturing Sector.” Adebayo commended members of MAN, “for increasing

national output by at least $40 billion in the past 20 years and employing close to seven million Nigerians.” He said one of the major contributions of the manufacturing sector could be seen, “in its amazing example in the cement industry, which has witnessed an incredible growth to fully cater for local demands,” adding that “the outlook for the manufacturing

sector is positive, especially with the development of private sector led crude oil refining will help to establish Nigeria as one of the manufacturing hubs in Africa.” The President of the MAN, Mr. Mansur Ahmed, said that May 7, 1971, would remain a special in the history of the association as it marked the incorporation of the association

that birthed a private sector led advocacy body for the manufacturing sector in Nigeria. Ahmed said: “From a humble beginning in 1971, MAN has evolved into the authentic voice of manufacturers in Nigeria as a credible platform for the private sector to formulate and articulate policy suggestions that complement government’s efforts in the overall interest of the economy.

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Restructuring Fertiliser Initiative for Better Output Against the backdrop of a directive by President Muhammadu Buhari to undertake an overhaul of the Presidential Fertiliser Initiative, the Nigerian Sovereign Investment Authority saddled with the task, taking up the gauntlet, has recently gone to work, writes Emmanuel Addeh

Orji

t is said that the Nigerian fertiliser industry has a blending capacity of four million tons of Nitrogen, Phosphorus and Potassium (NPK) annually and two million tons of production capacity for urea, with the capacity to employ over 250,000 people in both direct and indirect jobs across the country. However, before the implementation of the Presidential Fertiliser Initiative (PFI), only 10 per cent of the production capacities of the blending plants in operation across the country were being utilised. Prior to the initiative, what the piece of information showed was that most of the country’s stock of blended NPK fertiliser was shipped into the country as fully-finished products, although urea and limestone, which constitute roughly two-thirds of the component of each bag, are available locally. Dissatisfied with the situation, the PFI was initiated to reduce or fully half the importation of blended fertiliser and the initiative appears to be a huge success. To this end, the Nigeria Sovereign Investment Authority (NSIA) was mandated to manage the fund and because it wasn’t the NSIA’s core mandate, a Special Purpose Vehicle (SPV) called NAIC-NPK Limited was established. In order to ensure that the blending plants did not default on their obligations to remit revenues to NAIC-NPK, they were required to submit to NAIC-NPK Performance Guarantees from their banks, as payment security for the raw materials they receive under the PFI. However , a few clarifications need to be made to the effect that the presidential initiative is not a subsidy scheme as there is no subsidy along the production chain. The reduced price of the blended fertiliser arises from the generous discounts negotiated by NAICNPK Limited with the suppliers of the various raw materials, discounts passed on all the way to the farmers as price savings, it was learnt. While it is said that the previous subsidy scheme cost at least 60 billion naira annually to maintain, an amount that can now be deployed for more productive purposes, the Buhari administration reportedly inherited huge sums in unpaid fertiliser subsidy arrears. In the same vein, the federal government is not competing against the private sector, but is partnering with and enabling and supporting the private sector to deliver low-cost fertiliser to Nigeria’s farmers. Without mincing words, it can be said that through the NSIA programme, the federal government is securing a supply of quality fertilisers, stimulating local production, making fertiliser available to Nigerian farmers at affordable prices and in time for the farming season. To remove all doubts, the scheme has also suc-

Buhari ceeded in enhancing food security as a result of the expected increase in food production, reduced food-induced inflation and stimulation of economic activities across the agriculture value chain. But beyond the broader goal of ensuring food security for the country by providing high-grade fertilisers to enhance harvest, what the NSIA has achieved is to reinforce the present administration’s commitment to reviving and diversifying the economy, and creating growth by focusing on agriculture. In this connection the NSIA has said it has saved over $350 million from the erstwhile payments on subsidy and import substitution through the implementation of the initiative. The authority also said it had begun implementing the directive for the restructuring of the presidential fertiliser initiative, which it added had started to yield great returns. Recall that a bid to make the programme more sustainable and following its notable successes and transformative impact over the past four years, the presidency approved the restructuring of the PFI programme starting in the 2021 cycle with various modifications. Under the modifications, the NSIA has been transitioned to an upstream player thereby limiting its involvement to importation, storage and the wholesale of raw materials to blenders. The NSIA subsidiary NAIC-NPK Limited will be spun off to the ministry of finance incorporated. Under the new arrangement, blenders will no longer be paid blending fees by NAIC-NPK as they will recover their costs directly from selling the fertiliser to the market. This, according to the government, will balance the incentives of the business and ensure the blenders build the right capacity to actively participate in the local supply sub-sector. The blending plants are expected to provide bank guarantees to cover requisitioned raw materials demand that are appropriated for their respective production volumes. As part of the new structure and in line with the presidential directive, the federal ministry of finance, budget and national planning and the Central Bank of Nigeria (CBN) are expected to engage commercial banks to facilitate lines of concessionary credits to blending plants for the purchase of raw materials. It is also expected that the CBN will ensure that the foreign exchange needed for the programme is provided as and when needed to cover some raw materials The approval, which takes effect immediately, was communicated in a letter through the Office of the Chief of Staff to the President which was issued in November of 2020. Under the new arrangement, blenders will be responsible for bulk of the activities in the fertiliser production value chain such as transporting the raw materials,

sourcing filler, blending the fertilizer, and selling to off-takers. Also, the federal ministry of agriculture and rural development will perform its statutory monitoring and quality control role over blender activities. The benefits of this new approach include but not limited to unlocking of more development finance (loans and investments) into the local fertiliser blending value chain of Nigeria. It would also strengthen market systems and encouraging actor participation. This will lead potentially to mergers and acquisition and innovation and growth across the industry which will benefit farmers. The new approach would further reduce food price inflation in the market as the availability of fertiliser will drive down the price or cost of food product. It is also expected to reduce the high rate of unemployment as more people will become engaged in the production process. Commenting on the impact of the programme, the Chairman, Implementing Committee of the PFI and Executive Governor of Jigawa State, Governor Abubakar Badaru said that the scheme has further boosted the agricultural base of the country as well as eliminate the wasteful subsidy programme that was previously be practiced. “The programme has in many ways served to augment the administration’s policy-driven programmes to diversify the Nigerian economy. “In the main, the programme has bolstered Nigeria’s industrial base, resuscitated, and strengthened domestic production capacity for fertiliser, eliminated to the huge fertiliser subsidy burden placed on federal government, created thousands of direct and indirect jobs and alleviated the plight of the domestic farmer by ensuring availability of fertiliser. “Clearly, the programme is a strong value proposition for the nation in the agriculture space given the variety of socio-economic benefits it presents. We are grateful to Mr. President for creating this programme and look forwards to supporting the next phase as it evolves,” Badaru stated. Also speaking on the development, the Managing Director and Chief Executive Office of NSIA, Mr. Uche Orji, said with the support of the president, the programme has accomplished its principal objectives. “Having fulfilled the establishment, stabilisation, and market discipline phase of PFI, the primary objective of which was to revive the blending plants and create a viable domestic blending industry, we believe the PFI should gradually evolve into the next phase, which is a tactical withdrawal of intervention in the industry and the emergence of a self-sufficient, sustainable, and efficiently operated market. “NSIA is pleased with the government’s decision

and looks forward to seeing the innovation and creativity which will characterise the open market in the sector,” he said. On his part, the Chairman, the Fertilizer Producers and Suppliers Association of Nigeria, (FEPSAN), Mr. Thomas Etuh, in his remarks, explained that with the initiative, massive production can now be carried out nationwide. “The new approach will afford operators the opportunity to build recognisable and trusted brands while ramping up distribution nationwide,” he stated. Within four years of the initiative, according to the NSIA, the programme has delivered on key outcomes including over 30 million bags of 50kg NPK 20:10:10 equivalent spanning project period and price reduction on fertiliser from over N10,000 to under N5,500. It also said 41 blending plants have been resuscitated from an initial number of four plants at project inception, adding that an estimated 250,000 jobs (direct and indirect)across the agriculture value chain including in logistics, ports, bagging, rail, industrial warehousing, and haulage touch points amongst others have been created. It also said food security has been achieved by facilitating increase in domestic food production through the provision of affordable, high quality fertiliser. Recall that recently, in a bid to boost local fertiliser production, the NSIA signed agreements with an offshore firm, OCP of Morocco, Akwa Ibom State Government, the Nigerian National Petroleum Corporation (NNPC) Gas Aggregation Company of Nigeria, (GACN) to ramp up fertiliser production. Also in the mix were the Nigerian Content Development and Monitoring Board (NCDMB), Mobil and Fertiliser Suppliers Association of Nigeria (FEPSAN) which was geared to the development of a $1.4 billion plant to produce ammonia and di-ammonium phosphate, under the Nigeria’s Gas Industrialisation Strategy initiative. While the first phase of the project is expected to produce 1.5 million tonnes per annum of ammonia in two phases, up to 70 per cent of the ammonia produced will be allocated for export to Morocco and the balance will be routed to the production of 1 million tonnes per annum of Di-ammonium Phosphate (DAP) and NPK fertilisers to feed domestic demand. It is also expected that the project construction would commence no later than Q3, 2021, and would in the first phase of the project, see the investment of $1.4billion will in building the plant and its supporting infrastructure with a target operations-commencement date of 2025. With all the ongoing initiatives, fully backed by the NSIA, it is just a matter of time before Nigeria becomes fully self-sufficient in agriculture and by extension food production.

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Improving Maize Production Dike Onwuamaeze writes on efforts to boost maize production in the country

he Bayer Nigeria Limited (BNL), a subsidiary of Bayer AG, Germany, is spearheading improved cultivation of maize in Nigeria with the introduction of products that are targeted at changing the current narrative of maize farming in country from low yield to increased maize yield through the introduction of the Dekalb, the Lagon, the Decis and the Belt Expert. The BNL said the Dekalb is a quality hybrid maize seed and the Lagon, which is an innovative selective pre-emergence herbicide that is specifically designed for maize and cassava. The Lagon has a broad range of actions against grasses and broadleaves weed present in maize and cassava fields, with possible reactivation after drought. The BNL said that proper application of the Lagon could assure farmers of up to eight weeks weed control. The BNL also said the Decis has demonstrated proven efficacy in protecting crops from a broad range of insects for more than 30 years. It said: “There is no better choice for great yields and excellent quality as the Decis is a flexible and convenient pest management option.” In the same manner, the Belt Expert was described by the BNL as “an innovative and highly effective crop protection product with the most modern chemistry. The Belt Expert sustainablly controls a broad spectrum of chewing and sucking pests with extreme efficacy. It is a unique safe formulation for maximum protection and healthy, high-quality crops.” Apart from introducing good farming products with potential to deliver high yield into the Nigerian market, the BNL is also championing the Nigeria Maize Conference (NMC), which is its brainchild. The third edition of the annual conference was held virtually in Abuja, last month. The BNL’s effort to increase productivity in maize is boldly illustrated by the theme of this year’s Nigeria Maize Conference (NMC) that was captioned, “Much More Maize” (MMM) that is targeted at increasing maize yield for Nigerian farmers. The Managing Director of BNL, Mr. Sefihait Kone, who commented on how the BNL intended to address the maize production challenges in Nigeria, explained that the Bayer has a suite of products which is called the Bayer “Much More Maize” toolkit, specially put together to help farmers protect their crops and boost productivity of their farms from the planting phase through the harvesting stage. Kone said: “We will show how these products, if used properly have the potential to increase the profitability of their farms which translates to higher revenue for them. We hope that once all farmers imbibe these proper procedures, it will have a ripple effect on the economy and increase the food sufficiency of the country.” The NMC is an annual event that is organised by the BNL to bring together stakeholders in the industry and proffer solutions towards maximising the yield of maize production in Nigeria. The BNL said with over three million hectares of maize grown annually at an estimated 15 million tons output, Nigeria is a big market for arable crops. “However, there is still a gap in maize productivity in Nigeria compared to other countries in Africa. “The conference is pivotal to closing this gap by gathering insights, collaborating with key maize stakeholders, and finding a meaningful and strategic path to enter the market and communicate its innovations to the maize sub sector,” it said. This year’s edition of the NMC was aimed at addressing the productivity gap of maize growers in Nigeria through innovative best practices and adoption of quality inputs. In his welcome address, the Country Cluster Commercial Lead for Bayer, Mr. Lauren Parez, said as a responsible and sustainable company, the Bayers has decided to continue with its efforts in West Africa and more particularly in Nigeria to develop maize. Parez said the Bayer wished to promote the culture of providing farmers with highperformance products that would eradicate the environmental constraints in agricultural yields. The Market Development Regional Manager, Bayer Crop Science in Sub-Saharan Africa, Mr.

David Wangila, who commented on how maize productivity could be increased through good agronomic practises, stated that the BNL’s integrated maize portfolio and hybrid seeds are the solutions. Wangila said the hybrid seeds had the yield potential of up to 10.9 tons per hectare and were also tolerant to striga, leaf diseases, Maize Lethal Necrosis (MLN) and the maize streak virus. Similarly, the Agronomic Operations Manager (East, West and Central Africa) Field Solutions for Bayer, Mr. Joseph Kibaki, warned that whilst the hybrid seeds were tolerant to some of these viruses, it would also be important to ensure proper seed treatment in order to protect the potential of valuable seeds. Kibaki specified how seed treatment could target some relevant pests and highlighted the importance of managing insect pests before they would destroy the maize yields. He also highlighted the need for effective weed control that would ensure that the weeds were not competing with the maize crop for scarce resources and nuitrents. He stated that with, “proper implementation of the Much More Maize portfolio and good agronomic practises, farmers could see results in as little as four weeks with appreciable growth of their maize crops along with an increase in profitability.” The Director General of the National Agricultural Seed Council, Dr. Olusegun Ojo, who

Nigeria is yet to reach its full potential in terms of maize productivity, for example where a hectare of farmland in Egypt can yield up to 7 metric tonnes per hectare, a farm of the same size in Nigeria only produces around 1.8 metric tonnes per hectare which is one of the lowest among the top 10 maize producers in Africa

participated in the recently concluded NMC, emphasised the importance of seeds in the agricultural revolution of a nation. Ojo stated that the development, production and dissemination of quality maize seeds amongst others is central to providing adequate response to the many growing threats to food production from climate change to increasing drought and negative impacts of pest as well as the decreasing gains in productivity. He pointed out that, “the growth of this sector would be hampered without a proper structured seed system to support the industry.” The director general agreed with the BNL’s theme for this year’s edition of the NMC which was tagged “Much More Maize” because “much more maize is needed to feed the needs of our increasing global population.” He, however, said that productivity had not yet peaked in Nigeria when compared with other countries. He said: “Averagely, in Nigeria the yield potential of maize varieties ranges from 2.8-3.2Mt for OPV, which is very low and unacceptable if we are to maximise productivity. “According to studies by the Dutch governmentfunded seed roadmap, the OPV system in Nigeria is saturated, but of course the yields cannot ensure sustainability while the hybrid maize has a seed gap of 90 per cent in 2020, which is expected to increase if concerted efforts are not taken. “A decentralised seed quality assurance system has been proposed as one of the ways to mitigate the seed gaps challenges in Nigeria.” The Country Sales Manager of the BNL, Mr. Temitope Banjo said, “Nigeria is yet to reach its full potential in terms of maize productivity, for example where a hectare of farmland in Egypt can yield up to 7 metric tonnes per hectare, a farm of the same size in Nigeria only produces around 1.8 metric tonnes per hectare which is one of the lowest among the top 10 maize producers in Africa.” He went on to say that even though Nigeria is presently the largest producer of maize in Africa, the country is still not able to meet up with its domestic and industrial needs for the crop. He stated that the challenges with maize production in Nigeria are mainly due to poor agronomic factors and the use of bad seeds during planting and cultivation, and there is a need to educate our farmers on how they can increase the productivity and profitability

of their farms, hence the theme for this year’s conference. The President of the Maize Association of Nigeria (MAAN), Mr. Bello Abubakar Annur, outlined the challenges facing the industry and the efforts of the MAAN to tackle and overcome these challenges. Annur stated that maize production declined in 2020 from 12.6 million tons produced in 2019 to 12.4 million tons, representing a 1.555 per cent reduction due to rainfall deficit and low-level cultivation of improved and drought tolerant maize varieties. He said that the challenges facing maize productivity and the inadequate supply of certified seeds in Nigeria were the catalysts that spurred the BNL to conceive and gave birth to the NMC. Annur disclosed that Nigeria’s annual productivity of maize has been growing steadily since 1999 when constitutional democracy was re-introduced in the country. He said: “Our yearly national production figure doubled between 1999 when the country returned to democracy and 2019. The figures in the last five years are the highest ever. This streak of high production between 2014 and 2019 has taken Nigeria to the second spot among maize producers in Africa, behind South Africa, with an average of 12.9 million metric tons per year; and then, Nigeria’s yearly average was 10.8 tons. “Nigeria’s production figures rose from 10.1 tons in 2014 to 10.6 tons in 2015 and 11.6 tons in 2016. The country’s production figure rose from 10.1 tons in 2014 to 10.6 tons in 2015 and 11.6 tons in 2016. In 2017, the figure fell to 10.4 tons but leapt in 2018 to 11.0 tons, a figure maintained in 2019. “However, maize production declined from 12.6 million tons in 2019 to 12.4 million tons in 2020, representing a 1.55 per cent reduction arising from rainfall deficit (prolonged dry-spell) in the South-West and some parts of the South- East zones, flooding in some parts of the North-East and North West zones and inadequate fertiliser application on maize farms.” He also highlighted some of the achievements of the MAAN in tackling these challenges. These achievements included the facilitation of access to mechanisation, capacity building of its members on good agronomic practices and the empowerment of more than one million farmers through the CBN Anchor Borrowers programme.

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Empowering MSMEs to Stimulate Economic Growth Though the new National Policy on MSMEs came with mouth-watering promises to reposition the sector and make the operators better prepared to compete favourably with their peers at the regional and global stages as well as create job opportunities, the faithful implementation of the framework by relevant agencies of government at both the federal and state levels will determine its success, writes James Emejo

s pointed out by the Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum, at the 27th edition of the National Micro, Small and Medium Enterprises (MSMEs) Clinic in Gombe State, creating opportunities for MSMEs is critical for increasing productivity, job creation as well as boosting the economy. She noted that the contribution of small businesses to the country’s Gross Domestic Product (GDP) has increased to about 50 per cent and accounts for over 80 per cent eighty per cent of employment. Thus, they should be provided the enabling environment to thrive. Although the minister had assured that the federal government is not relenting on its efforts to partnering stakeholders across all sectors to ensure that MSMEs have the support they need to grow, the operators are still faced with a myriad of challenges which had limited the positive results expected from them as catalysts of growth. Further buttressing the constraints confronting the sector, Vice President Yemi Osinbajo, had December last year, called on government regulatory agencies to do more to improve the ease of doing business for small businesses rather than constitute bottlenecks to their smooth operations in the country. Though, he acknowledged the fact that the Federal Ministry of Industry, Trade and Investment was working to remove obstacles in the operation of small businesses, he added that, “We need to take a second look at the way we regulate SMEs in the country.” The vice president, during inauguration of the Abuja Chamber of Commerce and Industry (ACCI) Convention Center in Abuja, said government policy and private sector investments in small businesses would go a long way in determining the country’s economic trajectory. Osinbajo, particularly maintained that businesses cannot thrive if “government officials considered small businesses as obstacles” adding that government regulations must not constitute roadblocks to the growth of SMEs but rather serve as business facilitator going forward. In the same vein, the Managing Director/ Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, said there are presently too many problems confronting businesses in the country, especially MSMEs, which the government had continued to pay deaf ears to. He said the menace of multiple taxation at both the federal and states levels remained a major source of concern to investors especially start-ups. According to the former Director General, Abuja Chamber of Commerce and Industry (ACCI): “When a new business starts and there are too many taxes coming on their heads, of course, you don’t expect that business to grow. “Many times, taxes or levies we’ve never heard about will be imposed on businesses that are just starting today or tomorrow.” Even though the MSMEs sector had witnessed unprecedented funding intervention by the government, the Central Bank of Nigeria (CBN) and private sector in recent times, following the devastating impact of the COVID-19 pandemic, the Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Umar Dikko Radda, believed that the stringent requirements put in place by commercial banks as well as high interest rates had made it difficult for small businesses to meet most of the requirements for proper financing. It is against the backdrop of these constraints to the development of small businesses that the emergence of the much-awaited National Policy on MSMEs (2021-2025), ushers in tremendous hope and opportunities to reset the sector towards playing its important role in national development. According to Radda, the revised framework will ensure that small businesses are henceforth recognised by their turnover rather than asset base.

Radda The federal government, also approved for the split of micro enterprises into Nano/ Homestead and Micro Enterprises. Giving reasons for the choice of turnover over asset base in identifying MSMEs, moving forward, the SMEDAN DG, whose agency spearheaded the development of a new roadmap for the sector, fingered the rising inflation and currency devaluation among others for the decision. He said: “Inflation and naira devaluation have eroded the asset levels set in 2007 when the first national policy was approved. “As a result, comparison of new investments with the old becomes clumsy and misleading – that’s not the case when comparing turnovers of the same time; certifying asset values are more complex than determining turnover values.” Under the new regime, MSMEs are further categorised as nano, micro, small and medium enterprises. The nano/homestead business units are required to have one to two employees with turnover of less than N3 million, while micro enterprises are required to employ three to 25 staff with turnover of N3 million to N25 million. Also, small enterprises are required to employ between 10 to 40 staff with turnover of over N25 million while medium enterprises are to have between 50 to 199 staff and turnover of over N100 million before they can be qualified as such. Among other things, Radda, said fintech and other tech-driven companies have distorted the traditional relationship between asset base

As a result, comparison of new investments with the old becomes clumsy and misleading – that’s not the case when comparing turnovers of the same time; certifying asset values are more complex than determining turnover values

Katagum and business turnover, adding that experience from comparable countries, including India, showed they have all shifted from using assets in classifying their MSMEs. Radda, added that the company income tax waiver/incentive for small businesses under the Finance Act 2020 is also tied to turnover and not asset base. Beneﬁts of new policy Essentially, the new national policy on MSMEs will facilitate the creation of a minimum of 41 million jobs within the next three years. Radda, also said framework will facilitate an enabling environment for small businesses to function at maximal capacities as well as address grey areas in their operation, pointing out that the multiplier effect a healthy business environment will allow the MSMEs to boost employment opportunities in the country. He further explained that issues that border on compliance by small and growing businesses and the need for more innovative funding windows had received significant attention in the revised policy blueprint which also initiated a symbiotic relationship and synergy among all key MDAs with mandates that influence the performance of MSMES. He noted that the desire to consistently and sustainably realise the agency’s mandate and ensure that MSMEs contribute significantly to the national GDP and economic growth, formed part of the several reasons SMEDAN embarked on the review of the policy. He noted that the review had become inevitable to address certain interventions, initiatives and socio-economic issues both at the national and global space with implications on the operations of the MSMEs and large enterprises. Further expatiating on the framework, SMEDAN boss said: “You know initially we had the definition of MSMEs based on asset and labour. But now because it’s no more visible – you will see a one-man business but has a turnover of about N100 million or N1 billion. So we are classifying it now based on the turnover as well as the number of people employed.” He pointed out that SMEDAN remains the custodian of the policy on MSMEs, stressing that the SMEs policy was first developed in 2006, with the support of the UNDP and other development partners. He added that the policy had been due for a review in order to reflect new realities after it was altered in 2010 and later in 2018.

He stressed that the performance and wellbeing of the enterprises are largely dependent on the existence and implementation of a functional national policy on MSMEs. Katagum, however, assured that said the approval by the Federal Executive Council (FEC) of the MSMEs policy provided the framework to resolve the challenges faced by the sub-sector. The minister said the revised policy which accommodates key changes that have occurred in the national and international socio-economic scene, was a product of deep and wide consultations with critical stakeholders across the country such as MSMEs operators, policy makers, academics/researches and development partners, both local and international. But, as correctly observed by the minister, it is purely through implementation of the policy that MSMEs would be set on the path of sustainable growth and development. Yet, the big elephant in the room, has remained the effective implementation of the policies by the government - an issue which has retarded projected successes of several other blueprints in various sectors of governance and the economy in particular. As rightly alluded to by Radda, “there is no doubt that painstaking efforts have gone into the preparation of this document. “Our desire that it should not turn out to be another document that will end up in the shelf is the reason we are using this opportunity to reach out to every stakeholder at all levels.” “Implementation is very critical and we are confident that every stakeholder will willingly execute assigned responsibilities as detailed in the Implementation Matrix.” He said one principal area of action was the active engagement of the states in implementing the policy “because we are aware that the practitioners and stakeholders are residents in the states.” “Consequently, we are pushing the states to set up State Implementation Committees and to revive moribund committees in the where they have been inaugurated but not active. “In the past few months, we have inaugurated State Implementation or State Council on MSMEs in Kwara, Osun, Benue, Jigawa and Abia States. This is addition to the 17 State Committees that were already in existence. “Let me use this opportunity to appeal to States that are yet to inaugurate their Committees to do so within a reasonable time to enable seamless implementation of the newly revised policy.”

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BUSINESSWORLD

PERSPECTIVE

Taxation of Digital Economy in Re: CBN and Corporate Cover Up Nigeria, Need for Certainty Paul Nwabufo

Tayo Ogungbenro Digital economy no longer needs introduction. We will therefore not be spending time trying to define neither the term, scope nor coverage. But its pervasiveness and disruption of established business norm is no more demonstrated by the recent valuation of Paystack, a fintech company in Nigeria, with less than ten-year track record. Stripes, a US-based major investor in the payment technology industry recently paid a whooping US$200m (approximately N76 billion at current official exchange rate) to acquire the company. The value of a relatively unknown company set up by young graduates was more than the combined net asset value of at least three non-first tier banks in Nigeria, each of which has been in existence for more than three decades. Digital economy is literally displacing the brick and mortal forms of business all over the world. Uber is shutting down yellow cab taxi drivers in Lagos. The traditional media houses are competing for space within the social media channel. The telecommunication companies (telcos) have been granted a form of banking licence by the Central Bank of Nigeria. The major reason why the telcos have not displaced the banks is due to the limitation in the scope of what the telcos are permitted to do. Nevertheless, the fact that the telcos outlets in cash dispensing far exceeds the ATM machines and available in remotest part of Nigeria is a wake up call that banking in Nigeria will no longer be the same. The Nigeria tax system however lacks a coherent system of taxation for the players in the digital economy. It is still rooted in the past seeking for the traditional ways of tracking income derived, earned, received or brought into Nigeria. The common factor about each of the basis for identifying a taxable income for companies in Nigeria is ability to identify a particular place or trajectory of where an income is earned within the geographical space of Nigeria. This is where digital economy escapes from tax net of the country. The situation in Nigeria is extremely critical. The tax laws, sadly, do not guarantee certainty in tax payable by the companies. The problem ranges from identification of the particular legal entity that should account for the tax, to the determination of the taxable income, tax-deductible expense, documents and information required to be filed for tax purpose, among others. Concept of Signiﬁcant Economic Presence Earlier this year, the Minister for Finance, Budget and National Planning, Zainab Shamsuna Ahmed, tried to address the problem by issuing Regulations (Companies Income Tax (Significant Economic Presence) Order 2020) that will define the basis that will make some of the non-resident companies operating within the digital economy space to be deemed to be deriving income from Nigeria. The regulations moved away from the traditional permanent establishment or fixed base concept to economic substance. It sets various digital criteria by which such companies would be deemed to have Significant Economic Presence (SEP) and therefore liable to tax on income derived in Nigeria from such activities. Specifically, the Order provides that a foreign company shall have a SEP in Nigeria in any accounting year, where it a. derives N25.0million (approximately $65,000) annual gross turnover or its equivalent in other currencies from any or combination of the following digital activities: i. Streaming or downloading services of digital contents, including but not limited to movies, videos, music, applications, games and e-books to any person in Nigeria; or ii. Transmission of data collected about Nigerian users which has been generated from such users’ activities on a digital interface including website or mobile applications; or iii. Provision of goods or services other than those under sub-paragraph 5 of the Order, directly or indirectly through a digital platform to Nigeria; or iv. Provision of intermediation services through a digital platform, website or other online applications that link suppliers and customers in Nigeria. However, this is where certainty in respect of taxation of the players in this economy ends under the current tax legislation and regulations as explained further below. Uncertainty in taxation still holds sway The affected Non-Resident Companies (NRCs)

will be liable to tax in respect of profit derived from the SEP activities in Nigeria as clearly noted in each of the criteria above. The major issue is how to determine the revenue that will be deemed to be derived in Nigeria. Even if we assume that this is determinable, the other issue is the determination of tax-deductible expense. CITA requires tax-deductible expense to be those wholly, reasonably, exclusively and necessarily incurred for the purpose of generating the taxable income. It is however difficult, if not impracticable, for the NRCs to determine with reasonable degree of certainty, the portion of their expense incurred across international boundaries that will perfectly meet these conditions. Thus, if it is difficult to determine both the taxable income and tax-deductible expense, the resulting taxable profit will always be a subject of controversy with the tax authority. In the remaining part of this article, we have analyzed some of the challenges of determining each of these variables – taxable income and taxdeductible expense. In order to avoid unnecessary controversy where one may be tempted to focus on the messenger rather than the message, we will avoid mentioning any of the affected players in the digital economy space whilst illustrating the issue with real life situation. Our first example relates to an NRC digital player develops and sells an Enterprise Resource Planning (ERP) software to multinational enterprises (MNEs) operating across multiple jurisdictions. Usually, the agreement will be concluded and signed with one legal entity within the group and the software deployed to all operating companies in different jurisdictions. In practice, the operating companies will usually pay their respective share of the expenditure to the contracting company within the group for onward remittance to the ERP software developer. Currently, there are few Nigeria headquartered MNEs in this situation. Whilst the operating subsidiaries in Nigeria use the ERP, all the operating companies outside Nigeria also use it for their respective businesses in the host country. Thus, the benefits of the expenditure extend beyond the shores of the country. However, to the extent that the payment is made from Nigeria, such transaction will be assumed by the Nigeria tax authority and other regulators to be derived in the country. In another instance, an NRC digital player has facility for advertisement. The process is simply to place advert on their platform and make the information available to targeted and potential customers spread all over the world. When an MNE does this with a digital player, the company is able to reap the benefit of increased patronage across multiple jurisdictions especially where it has operating companies that can provide the service. Similar to above, the Nigeria’s tax authority will deem the expenditure as an income derived by digital service provider from the country and therefore subject it to tax therein. t0HVOHCFOSP JT B QBSUOFS JO UIF 5BY 3FHVMBUPSZ 1FPQMF 4FSWJDFT %JWJTJPO PG ,1.( "EWJTPSZ 4FSWJDFT JO /JHFSJB )JT BSFB PG TQFDJBMJTBUJPO JODMVEFT UBYBUJPO PG QMBZFST JO UIF EJHJUBM FDPOPNZ )F JT BMTP BDLOPXMFEHJOH UIF DPOUSJCVUJPOT PG "LJOXBMF "MBP &MJ[BCFUI 0MBHIFSF BOE 7JDUPS "EFHJUF NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

I was filled with apprehension and anxiety when I saw the above online publication in the Guardian Newspaper of 3rd May 2021, written by Geoff Iyatse (Assistant Business Editor). I was apprehensive because I thought that a massive fraud perpetrated by the Central Bank of Nigeria had been uncovered. I was also anxious because of the magnitude of damage such exposure would cause the financial system and the economy. The opening paragraph of the write-up actually heightened my apprehension and anxiety, see: ‘Until last week, many Nigerians without insider knowledge of what goes behind the banking halls thought the country could count on a stable financial system as it pulls through the battered economy’. In the next paragraph, I was expecting a bombshell of dirt dug up by this ‘investigative journalist’ only to be confronted by his confusion and pedestrianism: ‘Sadly, the Central Bank EXPOSED (emphasis mine) what has become clandestine affairs (sic) between it and the country’s topmost old generation financial institution, First Bank of Nigeria Limited’. So, it was actually the central bank that ‘exposed’ itself and not the result of any painstaking investigation? Why on earth should a business writer describe the relationship between a regulator and a deposit money bank as ‘clandestine affair?’ I’m wondering; is this a business editor’s language or that of a junk news reporter? Isn’t the central bank the regulator of the financial system in any economy? Isn’t the maintenance of financial stability a core function of CBN? Is this major role lost on this writer to the extent of describing the relationship of CBN and a bank in such vulgar language? As you read along, you’ll further discover his obvious bias when he out rightly impugned the maturity, wisdom and integrity of the central bank with this closing sentence in the paragraph; ‘....... which raises a question on the genuineness and sincerity of the intention of the Regulator’. What was the issue that led to all the brickbat? According to him, ‘ the Bank (First Bank) rejigged the board with Gbenga Shobo who was the Deputy Managing Director elevated to the position of Managing Director and Chief Executive Officer’. He agreed that this appointment among others were ‘awaiting regulatory approval’ and that it was made contrary ‘to an existing understanding between the board and the Central Bank of Nigeria’. Without giving any serious thought to this position, he continued his deprecatory remarks thus: ‘For years, the Central Bank of Nigeria in a fashion typical of a civil society organisation exchanged memos with an institution it has regulatory oversight over but was either too timid to invoke relevant provisions of the law or too partisan to act as expected’. ‘Act as expected’ by who?’. So, beyond being ‘civil’ by ‘exchanging memos’, you expected them to use armed men to ‘scatter’ the place? Arrest everyone and lock up the place so they won’t be seen to be ‘too timid’ or ‘too partisan?’. He continues; ‘this raises the question as to how many other regulatory breaches the central bank is covering up and how many more years the regulator would have looked the other way while the financial system was subjected to systemic risks supposing the board continues to pander to the undeclared interest of the Regulator’. Meanwhile, the Central Bank Governor had in his press release of 29th April 2021 titled, ‘Governor’s Statement on the Purported Management Change at First Bank of Nigeria Limited,’(copy must be with this editor), clearly explained and stated the reasons why the regulator had to intervene by reinstating the erstwhile Managing Director, he said amongst other things, ‘Ordinarily, the board is vested with authority to make changes in the management team subject to CBN approval. However, the CBN considers itself a key stakeholder in management changes involving FBN due to the forbearances and close monitoring by the bank over the last five years aimed at stemming the slide in the going concern status of the bank. “It was therefore surprising for the CBN to learn through media reports that the board of directors of FBN, a systemically important bank under regulatory forbearance regime had effected sweeping changes in executive management without engagement and/or prior notice to the regulatory authorities. “The action of the board of FBN sends negative

signal to the market on the stability of the board and management and it is in the light of the foregoing that the CBN queried the board of directors on the unfortunate developments at the bank.” He went further to state the various measures taken by the regulator to stabilise the bank as follows: I. Change of Management team under CBN’s supervision with the appointment of a new Managing Director/Chief Executive Officer in January, 2016. II. Grant of regulatory forbearance access to enable the bank work out its non performing loans through provision for write-off of at least N150bn from its earnings for four consecutive years III. Grant of concession to insider borrower to restructure their non performing credit facilities under very stringent conditions IV. Renewal of the forbearances on a yearly basis between 2016 and 2020 following thorough monitoring of progress towards exiting from the forbearance measures. With all these pieces of information at the fingertips of this editor, you begin to wonder the exact purpose of the write-up. Was it to give the central bank a bad name or give balanced information as it relates to the issue at hand? He acknowledges that First Bank is a ‘systemic important bank’ but fails woefully to connect the actions of the central bank to the preservation of the healthy status of the bank knowing that doing otherwise would affect the whole financial system. Isn’t he aware that since the global financial crisis of 2008-2009, every financial system throughout the world is taking robust measures to avoid bank failures of any type particularly those in the class of ‘systemic important banks?’ Perhaps the editor does not fully comprehend the regulatory role of the CBN as stipulated in the Banks and Other Financial Institutions Act 2020. If he did, he would have appreciated the effort of the CBN in following due process in firstly bailing out a systemic important bank as well as checkmating the impending boardroom imbroglio that would have caused chaos in the banking system. Indeed, no regulator of any financial system in the world would sit back and watch the board of a bank run the affairs of the bank without check, nor will it allow a Shareholder who will not subject him/herself to regulatory control and authority to remain a director of any bank. Why then should one make light of the enormous contributions of men and women at the Central Bank who work tirelessly to ensure systemic and financial stability? Criticism, particularly of an institution like the Central Bank must be made of sterner stuff. The least we should do is to use opportunities available to us to put down people and institution doing everything possible to protect the banking system, the financial system as well as the entire economy. In the instant case, the central bank has disclosed that its various interventions and windows created since 2016 at the commercial bank are paying off, particularly with the collaboration and understanding of the reinstated Managing Director and the board. Fruits of intervention activities everywhere in the world take time to fully mature. First Bank with the regulatory direction of the Central Bank of Nigeria is moving in the right direction so, why try to upset the applecart? t/XBCVGP B mOBODJBM BOE QVCMJD BGGBJST BOBMZTU XSPUF JO GSPN "CVKB

WEDNESDAY MAY 12, 2021 • T H I S D AY

WEDNESDAY MAY 12, 2021 •T H I S D AY

WEDNESDAY MAY 12, 2021 • T H I S D AY

IMAGES

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Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

L-R: Coordinator-General, Enugu Youth Forum (EYF), Comrade Onyeabochukwu Christian; Chairman of the All Progressive Congress and Patron EYF, Dr Ben Nwoye; and Federal Commissioner, Public Complaints Commission, Chief Chidi Ekwe, during EYF Summit in Enugu...recently

L-R: Fashion and brand Inﬂuencer, Akin Faminu; Senior Brand Manager, Heineken, Aishat Anaekwe; Senior Media and Brand PR Manager, Sandra Amachree and Media Personality, Olisa Adibua at the Heineken Fashion Party, during the just concluded Heineken Lagos Fashion Week in Lagos...recently

L-R: Treasurer, Nigeria School Sport Federation; Dr Obafunsho Usman; Winner Best Athlete Junior Boys Category Okon Moses; and Brand Manager, Maltina, Nigerian Breweries Plc Chiamaka Efulu at the Maltina School Games 2020 Prize Giving Event in Lagos…recently

L-R: Mr. Bode Olubiyi; Dr. Timi Olubiyi; Senator for Lagos West, Senator Olamilekan Yayi Adeola; Mr. Niyi Oyetayo and Mr Tobi Olubiyi, during the one year remembrance service for Late Chief Sehindemi Awe Olubiyi at Vaults and Garden Cemetery, Ikoyi Lagos...recently

President, Association of Telecoms Companies of Nigeria (ATCON), Mr. Ikechukwu Nnamani (right), presenting a plaque to the Group Managing Director/CEO of VDT Communications Limited, Mr. Biodun Omoniyi, during a courtesy visit of ATCON’ national executive council representative to VDT Communications in Lagos...recently

L-R: Daughter of Bashorun Asika Ogoeh/Managing Director oF DESOPADEC, Winefred Asika Ogie, and Representative of Rivers State governor and the Commissioner for Information, Rivers State, Paulinus Nsirim, during the presentation of the Year Infrastructure Award to Nyesom Ezenwo Wike, Governor of Rivers State, at the Independent Awards 2020 in Lagos...recently

L-R: Comfort Alalade, Akunna Okechukwu; Public Relations Manager, GOtv Nigeria, Jennifer Ukoh and another ﬁnalist, Faith Mac during the Nigerian Idol Top 11 Meet & Greet at the Ikeja City Mall, Lagos...recently

L-R: Groom’s father, Mr. Oludele Adeogun; bride’s mother, Pastor Mrs. Modupe Gbadegesin; newly wedded couple, Pastor Samuel Adedapo Adeogun; his wife, Pastor Mrs. Lydia Doyinfunmi Adeogun; bride’s father, Pastor Dr. Jide Gbadegesin; and groom’s mother, Mrs. Esther Adeogun, during the wedding of their children at the Christway International Church, Ile-Ife, Osun State...recently

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L-R: Director, Legal Services Department, Federal Ministry of Science and Technology, Mrs Yvonne OduThomas; Permanent Secretary, Federal Ministry of Science and Technology Mr Edet Akpan; Minister of Science and Technology, Dr Ogbonnaya Onu; and Chairman, Ministerial Technical Committee on Job Creation in Nigeria, Dr Ekanem Udoh, during the presentation of the Technical Committee Report on Job Creation to the Minister in Abuja...recently

L-R: Chief of Staﬀ to the Kogi state Governor, Phamacist Abdulkarim Asuku; Initiator, Eradication of malaria in Africa, Prince Ned Nwoko; Kogi State Governor, Yahaya Bello; and Welfare Manager, Ned Nwoko Malaria Eradication Project, Ms Nora Okolo after a collaboration meeting in Abuja...recently

Muslims shopping for Eld el-Fitri celebration at Balogun Market, Lagos....recently

L-R:Commandant of Army War College, Maj.-Gen. Solomon Udounwa; Former Minister of Interior, retired Lt.-Gen. Abdulraman Dambazau; and Chief of Army Staﬀ, Lt.-Gen. Ibrahim Attahiru and , during the Groundbreaking of Army War College Nigeria residential quarters in Abuja...recently

L-R: Representative of the Director-General, Raw Materials Research and Development Council (RMRDC), Mr Chuks Ngah and Chairman, Police Community Relations Committee (PCRC) Suleja Area Command in Niger State, Prince Mohammed Abubakar, during the visit of the PCRCs delegation to the Director-General’s Oﬃce in Abuja...recently

Governor of Kano state, Abdullahi Umar Ganduje (right) presenting letter of permanent and pensionable appointment to KHADIJA UMAR YAKUBU, a temporary worker at Local Government primary Health Care Unit who sustained injury as a result of motor accident which led to the amputation of her two legs, during the May Day celebration in Kano...recently

L-R: Chairman, Special Visitation Panel on the appointment of the 9th Vice Chancellor of the Lagos State University (LASU), Prof. Bamitale Omole presenting the report of the panel to the Lagos State Governor, Mr. Babajide Sanwo-Olu, at Lagos House, Ikeja...recently

A scene of a derailed train loaded with water pipes at Unguwan Kanawa by Sultan Bello Mosque in Kaduna... recently

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EDUCATION Learn at Home: Eliminating Odds against Continuous Learning with Tech As schools struggle to recover lost ground and regularise their academic calendars after the disruption caused by COVID-19, Uchechukwu Nnaike highlights the initiatives by Data Science Nigeria, and other bodies to provide access to online learning for all children, so as to fill the void created by the prolonged schools closure

ducation witnessed an unprecedented disruption across the world for the better part of 2020, as schools were shut for more than six months to check the spread of COVID-19, which ravaged the world. However, learning did not come to a complete stop in advanced countries as it did in most developing countries like Nigeria. According to 2020 data from UNESCO, nearly 40 million primary and secondary students in Nigeria were affected by the school closures, including those in internally displaced camps. For many of these school children, particularly those in disadvantaged rural communities, learning came to a complete halt. The closure of schools ushered educators into the era of new normal, teachers quickly adapted to the use of technology; they used devises at their disposal to ensure that learning never stops for their students, but not for children in remote areas who could not afford the devises, who didn’t have electricity and have no access to data to take advantage of the online learning. In fact, many of them reside in distant communities where fast 4G networks, which the prominent platforms recommend for smooth usage, is largely inaccessible. For some who have the devises, constant purchase of data became a problem, as many parents lost their sources of income and could not afford data. So, most students missed out of the online intervention. To eliminate these barriers and provide free, online and unlimited learning access to more than 100 million Nigerian youths, Data Science Nigeria, in collaboration with MasterCard Foundation recently launched a first of its kind audio e-learning platform (www.learnathome.radio) to provide curriculum-based educational aid and resources for pupils and students from primary one to senior secondary three (SS3). Some unique features of the platform include that it functions in line with the national mobile phone penetration and basic feature phone requirements. It can be activated on mobile phones operating on the EDGE or 2G network and low data. The organisation also partnered MTN, one of the youth-friendly service providers to provide free access to the platform. With this, it said children in rural and remote communities can learn from the highest quality teachers at their own pace and prepare for important examinations with the best resources and educational aids developed based on the approved curriculum The platform is a continuum of Data Science Nigeria’s successful ‘Learn at Home’ initiative, in partnership with the Mastercard Foundation, that provided learning to millions of Nigerian pupils amid the COVID-19 disruptive restrictions. Already, more than four million students have joined audio classes with USSD/SMS

Learning never stops with technology support, where they receive educational materials on key subjects, based on the Nigerian Educational Research and Development (NERDC) curriculum for primary and secondary school students. On the platform, pupils and students from primary one to senior secondary three (SS3) will gain access to a special examination readiness series that include a collection of solved past questions in WAEC, NECO, BECE and Common Entrance from 2009 to 2020. Expert teachers have been engaged to provide answers and explanations to the past questions in a step-by-step and easyto-understandformat, with complementary live classes that enable each student to learn at a preferred pace irrespective of location and socio-economic conditions. Besides the examination preparation series, www.learnathome.radio features a wide variety of content, including amazing global facts, inspirational quotes, current affairs, common errors in the English Language, and much more. Some of the youths who could not return to school after the pandemic for reasons beyond their control, and still desire to learn, can also take advantage of the plaform to stay informed, pending when they can return to school. According to the Country Head, Mastercard Foundation Nigeria, Chidinma Lawanson, “the disruption of the pandemic did not only halt learning for many, but also revealed and exacerbated existing inequalities in learning opportunities. The purpose of www. learnathome.radio is to ensure that children

have equal, convenient, and affordable access to quality learning.” Speaking on the initiative, the Executive Director of Data Science Nigeria, Toyin Adekanmbi described it as “a creative and innovative approach to democratize learning in Nigeria and provide an effective solution to the challenge of unequal distribution of learning and education opportunities in rural and urban communities.” She said: “The Learn at Home audio elearning initiative will build on the clear successes we recorded in the quest to ensure ongoing learning for children during the pandemic restrictions, particularly those who are economically disadvantaged, through our audio classes in several cities in Nigeria. Describing the initiative as a welcomed development, the Chairman, Lagos State Universal Basic Education Board (LASUBEB), Hon. Wahab Alawiye-King said children need all the support they can get to help bridge the learning loss that has occurred as a result of the pandemic. “The government has embraced blended learning and we are excited to have other well-meaning organisations support towards the collective goal that every child has sufficient access to quality education”, he added. According to him, upon resumption after the statewide closure of schools as a result of COVID-19, over 21,000 of primary school pupils did not return back to school due to various impacts of the pandemic. “In reaction to this, LASUBEB launched

the Project Zero initiative, a programme designed to identify, track and bring back out of school and not in school children back to school. The project helps to provide school uniform, socks, writing materials and school bags to pupils at the verge of dropping out of school, due to socio-economic reasons. “The initiative, as well as other aggressive sensitization and advocacy programmes in collaboration with the School Based Management Committee, has so far helped to bring back over 14,000 (and counting) of the pupils back into school. The first Phase of Project Zero was fully supported by corporate bodies, non governmental organisations, education enthusiasts and many well meaning individuals.” A teacher, who pleaded anonymity, said the learn at home radio will help people who could not return to school after the pandemic to learn on the go. “Some girls in secondary schools were married off, some became pregnant, while others started their own businesses and saw no need to return to school. This learn at home radio will help those of them that still have the desire to learn. They can learn at there own pace, and who knows, may decide to return to school and complete their secondary education.” One of the parents already taking advantage of the platform, Mr. Nwachukwu, lauded it as a breakthrough innovation. “Before, platforms like this one were usually only for those who could afford expensive laptops or smartphones and daily internet subscriptions. Now, everychild, every where can learn.”

FUPRE to be Among 400 Best Varsities Globally by 2025, Says VC Sylvester Idowu in Warri The Vice-Chancellor, Federal University of Petroleum Resources (FUPRE), Effurun, Delta State, Professor Akpofure Rim-Rukeh, has said the vision of his administration is to make the specialised university to be among the best 400 universities in global ranking in the next four years. Rim-Rukeh, made this known while briefing journalists to

mark his first year in office as vice-chancellor of the institution. To achieve the vision, he disclosed that the best world university ranking organisation, Times Higher Education, has been selected for FUPRE University ranking, adding that the requirements of the Times Higher Education are being thoroughly studied and the key areas of assessment being addressed. According to him, one of the

benchmarks for qualification in Times Higher Education World University Ranking, which is to have published at least over 1,000 articles in Scopus indexed journals in the last five years at anytime, covering different subject areas, have been taken care of. To further position the university for the world ranking, Rim-Rukeh, listed some of the projects his administration had initiated for the past one

year to include construction of 1,500 capacity convocation arena- phase I; procurement and installation of laboratory equipment for Marine Engineering; completion of university electrification works. Others, he said included general electrification and external beautification/car park for the blocks of classrooms and offices; construction of standard basketball court and construction of standard lawn tennis court, while efforts

are on to complete the College of Science Phase II and the 750 capacity students hostel. “The construction and furnishing of Administrative Building; the construction and furnishing of 500 capacity students hostel through the intervention of the Tertiary Education Trust Fund (nearly completed) and construction and furnishing of University Library complex.” Rim-Rukeh stated that the ICT under his leadership has

become innovative hub, with huge investment in ICT infrastructure and development of networking capabilities required for building a community of solution providers. He commended the principal officers of the institution for their continuous support and sacrifice; for always standing strong even in the face of difficulties, while thanking the staff and students for inspiring them to deliver quality service.

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EDUCATION

Visitation Panel Solicits Support of UNN Nigeria Debuts Locally Made Plagiarism Community, Calls for Memoranda Uchechukwu Nnaike Members of the University of Nigeria, Nsukka (UNN) community have been called upon to take advantage of the Federal Government’s Visitation Panel to the institution by submitting their memoranda and participating, actively in the process for the university’s overall future development. Chairman of the panel and former Vice-Chancellor of the University of Abuja, Professor Gambo Laraba Abdullahi, who said this in a statement signed by the Secretary, Mrs. Bukola Olatunji, described the visitation as a very important assignment, which promises

to, among others, address the challenges facing public university education in the country, in order to proffer solutions to them. She therefore urged all relevant stakeholders of UNN to play their parts in ensuring that the objectives of the exercise are achieved. The panel is to review the performance of each institution and advise the federal government in the areas of governance, academic standards, quality assurance, management of finances, relationships between management, staff and students, as well as conditions of physical infrastructure and instructional facilities, among others.

The federal government had constituted visitation panels to all federal tertiary institutions and they were inaugurated by the Minister of Education, Mallam Adamu Adamu on Monday and Tuesday, April 12 and 13, 2021, at the National Universities Commission (NUC), Abuja. Given 60 days to submit their reports, covering 2011 to 2015 and 2016 to 2020, their terms of reference are: To inquire into the level of implementation of the white paper on the last visitation report; to look into the leadership quality of each university in terms of the roles of governing council, the vice-chancellors and other principal officers; to look into the

Prof Gambo Laraba Abdullahi

financial management of each institution, including statutory allocations and internally generated revenue over the recommended period and determine whether it was in compliance with appropriate regulations Others are: To investigate the applications of funds, particularly the special grants and loans meant for specific projects in order to determine the status of such projects and their relevance for further funding; to examine the adequacy of the staff and staff development programmes of each university; to determine the relationship between the university and the various statutory bodies it interacts with, according to its Law for the purposes of supervision, planning, finance, discipline, guidance and any other relationship (i.e. governing council, NUC and Federal Ministry of Education); to examine the Law establishing the University, including the relationship between the various internal organs, units and offices and indicate the ways the Law has been observed by the competent authorities and also suggest any modifications to the Law. The visitation panel is also expected to trace the historical evolution of the university and take stock of its net achievements and problems, as well as its style and direction; to examine the general security in the university and how the university has dealt with it and recommend appropriate measures; and to examine the process and structures of discipline of students in each university, in line with due process of the rule of law. Other members of the UNN Panel are: Professor Prekeyi Tawari-Fufeyin; Alhaji Jimoh Ayinla Bankole; Professor Danladi Slim Matawal; Professor Osy Ezechukwunyere Nwebo; and Barr Abdul Ibrahim Radda.

Software Kuni Tyessi in Abuja

Days of fraudulent acts of plagiarism might have come to an end in the nation’s ivory towers as Nigeria has launched a homegrown plagiarism detection software code named EagleScan. The cost of development, deployment, maintenance and marketing of the software over the next three years is projected at a total of N251,298,000. Launching the software in Abuja, the Vice-President, Prof. Yemi Osinbajo stated that plagiarism is a form of corruption, describing the act as stealing of intellectual properties of others without acknowledgements. Osinbajo, who was represented by the Executive Secretary of the National Universities Commission (NUC), Prof. Rasheed Abubakar, said it is an initiative that announces the zero tolerance for plagiarism. According to him, the federal government is fully committed to supporting all initiatives that will continue to build and enhance the integrity of higher institutions. “Let me also say that the government will give all that is needed to ensure that anti-plagiarism measures are instituted across the country,” Osinbajo added. The Executive Secretary of the Tertiary Education Trust Fund (TETFund), Prof. Elias Bogoro, said the fund in respect to plagiarism is delighted to work with the Committee of Vice-Chancellors (CVC).

According to Bogoro, the fund is not only committed to the initiative, but has effectively promised and proceeded to make funding commitment towards the project. “TETFund recently realised the need for software on antiplagiarism for the National Research Fund, we are also working on a software to package the impact of research, but in respect of plagiarism, we are happy to work with the CVC. “We are convinced of deepened content of academic engagement particularly research. The idea of operations must stop, hence the establishement of the Research and Development Committee,” Bogoro added. The Secretary General of the Committee of Vice-Chancellors, Prof. Yakubu Ochefu said “the cost of development, deployment, maintenance and marketing of the software over the next three years, is projected at a total of N251,298,000. “A substantial part of this cost is for licensing closed user databases and repositories. For now, CVC Secretariat is hosting the secretariat for the Eagle Scan Technical Team.” The main features of the software include, Plagiarism Checker, Peer Review, Document Comparison, Grammar Checker, Similarity Index, Grade Mark, Local and foreign Language Support/Converter, Local/Global Repository, Title/ Abstract Validation, LMS Integration, Report Download, User Account Management, and Self-Archival Interface.

Foreshore School Boss Gombe Gov Hosts FUK Management, Visitation Commends Pupils, Teachers Panel, Pledges Support for Success in Cambridge that the institution does not versity to have a link with the management of the university Segun Awofadeji in Gombe only provide tertiary education Leventis Foundation in Tumu for and to intimate the governor Checkpoint Exam Gombe State Governor, Muham- to the people of the state, but its sugar research programme, the on the vision of the new team Funmi Ogundare The Director of the Foreshore School, Ikoyi, Ms. Oyindamola Egbeyemi has congratulated the teachers, parents and year six pupils for the feat achieved at the Cambridge Checkpoint Examinations, conducted in April. She said taking the examinations was a significant achievement to the school because of the creativity, innovation and teamwork that was applied to ensure that the pupils were ready and confident enough to write the examinations. Egbeyemi, who said this in a release made available to THISDAY, recalled the challenges faced by the school occasioned by the COVID-19 pandemic. According to her, “at The Foreshore School, the challenges were dire and the state of confusion was so immense that the core of the school’s existence, which is a family values-based system, was threatened on multiple occasions. This was a true test of trust, resilience and the strength of the foundation that was laid when the school was established 14 years ago. “At the beginning of the pandemic in March 2020,

the outlook for Africa was tremendously bleak, especially for its most populous nation, Nigeria. Fear and caution then became watchwords for most of the past year. Educators were inevitably in the same dire state of confusion that all organisation leaders had to forcibly go through.” She said despite the challenges, the school had to brace up to maintain standards, fill gaps, rebuild and sustain relationships among its stakeholders so as to survive and thrive. “This was the mindset and driving force during the pandemic, and the momentum has been sustained now that we are recovering from it.” The director expressed excitement about the school resuming physically, with a hybrid learning option available for families who prefer their children to learn from home, adding that children are happy to be back and interact with their friends and teachers. Egbeyemi also recalled the conversations around education during the pandemic, saying that everyone simply needed to do what they thought was the best that they could, in order to survive.

madu Yahaya has promised that his administration will continue to work in partnership with the Federal University of Kashere (FUK), so that the institution can keep providing quality education for the people of the state. He stated this recently, when he granted audience to the joint delegation of FUK management and the Presidential Visitation Panel to the university, led by the Vice-Chancellor, Professor Umar Pate, at the Council Chamber of the Government House. The governor assured the visitors that the state government under his leadership will continue to support the university based on the fact

also employment to its citizens. He said the presence of the university in Gombe has helped in reducing the risk attached to distant travels in search of tertiary education and has ultimately provided less financial obligations on parents who will rather patronise the institution than send their children far away to acquire university education. On some of the challenges confronting the university, Yahaya assured the management of the institution that his administration will do everything necessary to ensure that the institution is allocated additional land for expansion. On the request by the uni-

governor said the initiative was in line with his administration’s Agricultural Entrepreneurship Training Centre, adding that the State government will look at the best way possible to collaborate for optimal results. He said despite the paucity of funds being experienced by the state, in the midst of many demands, his administration will remain resolute towards supporting the university, as what goes into the institution will eventually trickle down to the people of the state. In his remarks, Professor Umaru Pate said they were at the Government House to officially introduce the new

going forward. This vision as explained by Pate is to develop the university and to consolidate on past achievements in the institution, saying that anything less will not be accepted by his leadership. Also speaking, the Chairman, Presidential Visitation Panel to FUK, Dr. Mac John Nwobiala said the six-man panel will appraise the performance of the institution in terms of leadership qualities of the vice-chancellor, principal officers and governing councils with a view to ascertaining the extent to which they have fulfilled their mandate for public good during the period under review spanning 10 years.

NDDC Donates Multi Million Naira Science Equipment to 46 Secondary Schools in Niger Delta Sylvester Idowu in Warri The Niger Delta Development Commission (NDDC) has donated science equipment to some selected schools in the Niger Delta region. During the flag-off of the donation/distribution of essential science equipment to selected secondary schools in

the Niger Delta Region, Effurun near Warri, Delta State, the Interim Administrator of NDDC, Mr. Effiong Akwa said the commission was donating the equipment to 46 schools across the region, adding that the goal of the commission is to facilitate effective teaching and learning of science subjects in order to stimulate and foster

the interest of young minds in the study of sciences. He said the NDDC recognises that the youths are the future leaders and key players in the regional growth strategies, adding that there should be efforts to ensure that the Niger Delta Region reaps adequate reward from its natural riches.

“The relevance of science education to our lives and its capacity to apply vital life skills to everyday activities indeed, cannot be over emphasised. That is why we must equip our laboratories with modern science equipment. That is why we must promote the teaching and learning of science subjects in schools,” he added.

WEDNESDAY, MAY 12, 2021 ˾ T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 10May-2021, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 5.16% AIICO Balanced Fund 3.35 3.51 -5.56% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 1.31% Anchoria Equity Fund 127.56 129.03 -4.10% Anchoria Fixed Income Fund 1.05 1.05 -21.24% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 19.00 19.57 4.76% ARM Discovery Balanced Fund 413.94 426.42 3.39% ARM Ethical Fund 36.87 37.98 9.36% ARM Eurobond Fund ($) 1.08 1.09 -11.49% ARM Fixed Income Fund 0.96 0.96 -14.54% ARM Money Market Fund 1.00 1.00 2.95% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 104.03 104.03 2.28% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 1.95 1.95 -26.90% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.17 2.21 -8.27% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 3.36% Paramount Equity Fund 15.82 16.10 -1.12% Women's Investment Fund 131.54 132.92 -1.21% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 3.89% Cordros Milestone Fund 2023 113.93 114.63 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 106.36 106.36 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 1.73% Coronation Balanced Fund 1.16 1.17 -3.29% Coronation Fixed Income Fund 1.34 1.34 -15.28% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 3.18% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 2.80% EDC Nigeria Fixed Income Fund 1,158.41 1,164.90 -3.32% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,364.24 1,364.24 8.69% FBN Balanced Fund 184.80 186.06 -1.54% FBN Halal Fund 109.27 109.27 3.98% FBN Money Market Fund 100.00 100.00 5.18% FBN Nigeria Eurobond (USD) Fund - Retail 124.61 124.61 3.29% FBN Smart Beta Equity Fund 151.23 153.36 0.03% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A FSDH Treasury Bills Fund N/A N/A N/A

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 3.80% Vantage Balanced Fund 2.75 2.81 19.70% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 148.18 148.61 -4.66% Vantage Equity Income Fund (VEIF) - June Year End 1.21 1.25 28.13% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 5.98% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.36 1.38 0.00% Lotus Halal Fixed Income Fund 1,133.02 1,133.02 2.61% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 10.65 10.72 1.84% Meristem Money Market Fund 10.00 10.00 4.89% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.62 1.64 7.36% PACAM Fixed Income Fund 12.39 12.45 2.13% PACAM Money Market Fund 10.00 10.00 2.22% PACAM Equity Fund 1.56 1.57 -1.22% PACAM EuroBond Fund 110.50 112.01 0.46% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 129.31 131.51 5.43% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 2.49% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,132.86 3,157.64 -2.59% Stanbic IBTC Bond Fund 229.01 229.01 1.85% Stanbic IBTC Ethical Fund 1.17 1.19 0.00% Stanbic IBTC Guaranteed Investment Fund 300.18 300.18 1.87% Stanbic IBTC Iman Fund 214.45 217.06 -1.87% Stanbic IBTC Money Market Fund 100.00 100.00 4.29% Stanbic IBTC Nigerian Equity Fund 10,168.83 10,296.56 -3.18% Stanbic IBTC Dollar Fund (USD) 1.25 1.25 1.99% Stanbic IBTC Shariah Fixed Income Fund 113.46 113.46 2.14% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 100.84 100.84 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.34 1.36 -2.12% United Capital Bond Fund 1.93 1.93 2.23% United Capital Equity Fund 0.89 0.91 2.69% United Capital Money Market Fund 1.00 1.00 5.38% United Capital Eurobond Fund 120.20 120.20 2.66% United Capital Wealth for Women Fund 1.08 1.10 -0.57% United capital Sukuk Fund 1.04 1.04 4.20% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.03 12.13 1.37% Zenith Ethical Fund 13.32 13.43 9.00% Zenith Income Fund 24.33 24.33 1.43% Zenith Money Market Fund 1.00 1.00 3.07%

REITS NAV Per Share

Yield / T-Rtn

122.84 53.12

1.74% 1.37%

Bid Price

Offer Price

Yield / T-Rtn

12.49 123.31 96.99

12.59 123.31 98.75

-5.49% 1.29% -2.42%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.77 5.56 16.94 1.00 19.08 158.91

3.81 5.64 17.04 1.00 19.28 160.91

-0.38% -2.21% 3.64% 2.67% -6.98% -27.30%

NAV Per Share

Yield / T-Rtn

107.52

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

WEDNESDAY MAY 12, 2021 • T H I S D AY

T H I S D AY ˾ ͯͰ˜ ͰͮͰͯ

CITYSTRINGS

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Ekweremadu @ 59: A Journey with Destiny Uche Anichukwu

ames such as Chinedum (God leads me), Chibuike (God is my strength), Mmaduabuchi (No man can successfully play God), Chidera (God has the final say or what God has written is already written), Osinanchiadimma (God bestows good fortunes), etc. underscore Igbo’s belief in the supremacy of God in the affairs of men. Nevertheless, they believe that one should not imitate the praying mantis that went to sleep because her co-wife promised her some pounded yam. She did not as much as venture into her mate’s hut to find out if the food was ready. She kept stretching her neck in expectation. That was how the praying mantis developed a long, lean neck from hunger and protracted giraffing. In Chinua Achebe’s Things Fall Apart also, Unoka, the loafer father of Okonkwo, clears the farmland when others are already planting. He flutes away his time. Expectedly, he is debt-ridden and without a title or a place of honour among real men in Umuofia. He dies a man whom Okonkwo is too ashamed to identify with as his father. However, there are many, who, like the great men of Umuofia, are not just on a rendezvous with destiny, but whose cocktail of determination, courage, vision, intellect, humility, and industry also blend with grace and destiny in perfect proportions. Each time destiny leads opportunity to their doorsteps, it always finds in them willing and well-prepared partners, even if disguised as humble responsibilities. Senator Ike Ekweremadu is one of such men. At a valedictory service for a set of graduating secondary school students of Boys Secondary School, Umueze Awkunanaw, Enugu State around 1980, the officiating priest had asked the young men to ask God for anything as they began their journey into the world. The young Ekweremadu scanned the circumstances around him, his hometown, and locality with his mind’s eyes and prayed Jabez’s kind of prayer: “Oh, that you would bless me and enlarge my territory; that thou would use me as an instrument of transformation for my people and I would in return build a place of worship for You”. Anybody who has followed his political rise or knew Mpu and Aninri in particular as well as Enugu West in general before the rise of Ekweremadu would agree that God is a keeper of covenants indeed. As a nine to 10-year old boy, Ekweremadu’s mates in Mpu had already elected/appointed him Chairman of their age grade association. As he grew into a man, the people of Mpu, on their own, beckoned on him to lead the community as the town union President General. He occupied the position for so many years at the pleasure and insistence of the community. In 1996, he was the secretary of the movement for the creation of Aninri LGA to bring development to the towns of Ndeaboh, Mpu, Oduma, Okpanku, and Nenwe. He was also chosen to make Aninri’s presentation before the visiting Abuja panel. Upon the creation of the local government by the Gen. Sani Abacha regime, thanks to people like the late Prof. Samson Ukpabi, a delegation of Aninri elders came to him with a message to provide leadership for the new LGA as its pioneer elected Chairman. He contested and won the Council election in 1997. The Military Administrator was shocked to meet and commission a brand a new Council secretariat at Ndeaboh, the Aninri LGA headquarters during his tour of local governments in Enugu State. He was even more surprised that Ikeoha did not take any loans to accomplish such feat.

Ekweremadu

Ekweremadu was voted the Best Council Chairman in 1997 and the footprints of that stewardship are still very visible till date. Upon the sudden dissolution of the Councils by General Abdulsalami Abubakar, following the death of General Sani Abacha, Ekweremadu re-contested for the position during Abdulsalami’s transition to civil rule programme in order to continue with his good work, but was practically stopped through brigandage, escaping death by the whiskers. However, that loss was actually destiny taking him on the path of higher political ground. To cut a long story short, Ekweremadu was later to link up with Dr. Chimaroke Nnamani and became the DirectorGeneral of his governorship campaign organisation. Nnamani had during a January 2019 visit by Ikeoha narrated how he found himself in a fix in finding a role for Ikeoha in his government after the election as some powerful political forces blocked the position he was pencilled down for in a pre-election understanding. Worse, although Ikeoha could have taken Enugu’s ministerial slot as requested by Chief Olusegun Obasanjo, he (Nnamani) said he felt Ikeoha would be key to the success of his administration. Thus, that slot was given to Chief Dubem Onyia, who was second on the list. As he rode in the same car with Ekweremadu from the old Governor’s Lodge to the Government House one day (around Bisala Road), the Radio Nigeria network news announced the appointment of a Chief of Staff and a spokesperson by Obasanjo. Greatly relieved that he finally found a role for Ikeoha, Nnamai immediately took a cue from Obasanjo, appointing Ikeoha the first Chief of Staff to a governor in Nigeria. Governors used to have only Principal Secretaries. Ekweremadu emerged the Secretary to the Government (SSG) in a dramatic fashion when that position became vacant in the course of Dr. Nnamani’s first tenure in 2001, as he strongly declined. Another person, who later became the Attorney-General during Governor Sullivan Chime administration,

was picked. Ekweremadu was seeing him off after the kitchen cabinet meeting, hoping to head to the Enugu State Broadcasting Service to submit the new appointment for announcement. But on their way out of the Lion Building, the man said he didn’t want the office, as it would appear that he masterminded Chief Onyemuche Nnamani’s removal. Consequently, Ikeoha was appointed the SSG despite his initial refusal. Senator Adolphus Wabara was favoured by the Peoples Democratic Party (PDP) leadership as the President of the 5th Senate, leading to the withdrawal of other interested persons. Ekweremadu also lost the contest for the Senate Presidency to his kinsman, Senator Ken Nnamani, following Wabara’s removal in 2005. But ahead of the inauguration of the 6th Senate in 2007, the position of the Deputy President of the Senate landed on his laps. It was the late Senator Kanti Bello (PDP, Katsina), who came to inform him that party leaders had chosen Senator David Mark as incoming President of the Senate, while also endorsing him (Ikeoha) as deputy on the recommendation of Mark, who spoke so highly of his brilliance and unalloyed loyalty to his Governor, Nnamani, in the 5th Senate. However, Ekweremadu once told the story of how the former Chairman of PDP BoT, the late Chief Tony Anenih, invited him to a breakfast meeting a day to the inauguration of the 6th Senate. Anenih informed him that party leaders and President Umaru Yar’Adua had changed their minds. Senator George Akume would now become the President of the Senate, also with Ekweremadu as his deputy. But Ekweremadu respectfully declined and asked that leaders should as well get another Deputy for Akume because he could not in good conscience abandon Mark at that point. Although deserted by many, both men, through God’s grace of God and strong support of some party leaders and their colleagues turned things around. Mark beat Akume 68 to 39 votes, while Ekweremadu emerged unopposed. The rest is history. Ikeoha was re-elected unopposed as Deputy President in 2011. In this capac-

ity and having earlier served as a First Deputy Speaker, ECOWAS Parliament, it was another date with destiny for him, as he was also unanimously elected as Speaker of ECOWAS Parliament when it was Nigeria’s turn to occupy the office in 2011. Since the office rotates among the 15-member nations in alphabetical order, it would take about 60 years from the end of Ekweremadu’s tenure in 2015 before another Nigerian occupies the seat. After PDP’s devastating loss of the presidency and majority status in the National Assembly in 2015, some political rivals and pundits declared that it was the end of the road for Ikeoha. But he re-emerged Deputy President of the 8th Senate as an opposition leader in an intrigues-soaked politicking. Then, they said he would not survive more than six month. But God saw him and Senator Bukola Saraki through the tribulations and diabolical political machinations, while he also showed himself a truly principled politician by refusing to abandon his party at its most trying period. Instead, he dug in and fought for PDP’s eventual revival. Indeed, running for dear life with family and surviving the civil war, which broke out when he was about five, disappearing from his father’s home years after the war on a day he was to be taken for apprenticeship by a trader (whereas he preferred to continue his education) and reappearing a day after, buoyed by destiny, benevolent spirits and destiny helpers; equipped with LL.B, B.L, LL.M, PhD. (Constitutional Law), fortified by experience, and armed with enviable record as the longest serving presiding officer, the question on the lips of many as Ikeoha clocks 59 on 12th May is: What next? As Ikeoha rightly stated during a radio interview in Enugu last year, this is a question, which even himself cannot answer. As a man on a journey with destiny, his future is in the hands of God. Happy birthday, Your Excellency, Ikeoha Ndigbo. -Anichukwu is Media Adviser to Ekweremadu

T H I S D AY ˾ ͯͰ˜ ͰͮͰͯ

CRIME&SECURITY

How Safe is Oyo under Makinde?

Makinde inspecting the newly-established Oyo State Security Joint Force Base at Mamu Village on the Oyo/Ogun States border

Donation of nine operational vehicles to the Oyo State Security Joint Force as part of efforts to secure the state's entry-exit points

Aderonke Ajayi

yo State people are an interesting lot. They boast that they don't copy anyone while all others are free to struggle to do as Oyo does. Whenever the nation is in the labour room preparatory to birthing a major occurrence, Oyo, especially, Ibadan, its capital, is a barometer to measure it. Nigeria is in the middle of a security crisis and the South West is in it too, very involved. It is thus necessary to look at how Oyo is beating back or beating off the wind of insecurity blowing everywhere in Nigeria. Nigeria's south is no stranger to battling serious security problems. In recent times, a particularly baffling one had presented in the form of herdsmen killing people and laying waste to farms. That problem was anticipated to go into a suppressed state with the advent of the regional security network, the Amotekun Corps. And the initiative of the South West governors is truly proving to be so much help in keeping farmers and other residents safe and the murderous herdsmen at bay. However, governments in the region had no foreboding that they would soon have more on their plates in terms of abnormally frequent cases of kidnapping - undoubtedly the biggest security threat the country is facing today. The reason for this lack of suspicion is not far-fetched: not so long ago, this particular 'strain' of crime appeared to be a problem that was peculiar to the North. A report headlined 'Spotlight on Nigeria's Diverse Security Challenges', which was written by Mark Duerksen and posted on the website of the Africa Center for Strategic Studies, in March 2021, looked at the beleaguered North's gradual descent into its present criminal and abysmal kidnap-forransom enterprise. A part of the report reads: "Exploiting a security vacuum, criminal gangs in North West Nigeria have been behind a surge of kidnappings for ransom targeting boarding schools. "In the last five years, the North West has experienced the greatest concentration of kidnappings in Nigeria. The ransoms collected through these mass abductions have become a means of business for these criminal gangs. "Mass kidnappings in Zamfara, Niger, and Katsina states have emulated 2014’s infamous kidnapping of the Chibok schoolgirls by Boko Haram and have forced the government to respond. Government spokespeople deny paying ransom to secure the release of the children, but on-theground accounts contradict this. "Moreover, government officials may benefit from the large amounts of cash used to secure hostages’ release. As in the North East, kidnapping for ransom has made highways in the region too dangerous for travel, and airlines now operate short flights from Abuja to Kaduna." But current realities have left no one in doubt that the South, especially the South West, is not immune to the problem of kidnapping and the enormous threat its prevalence poses to its citizenry in spite of

CCTV cameras installed at the Joint Security Post at Mamu village – a border community between Ibadan and Ijebu Ode in Ogun any previous indications or expectations to the contrary. Today, for government at all levels in the country, finding solutions -- elusive, as it were -- to the problem of kidnapping is on the front burner, with nearly all other governmental functions, economic or social, relegated to the background. However, the recent discovery of major kidnap locations in Oyo State is presently being viewed by stakeholders as a game changer in the resolve of the state government to fight the crime of kidnapping head-on. Feelers from the circle of security experts in the state also indicate that this newfound ace in hands of the state government is expected to be deployed in tackling other crimes that are distracting it from real matters of growth and development. It was gathered that the locations that were discovered to be majorly targeted for kidnapping in the state are in Ido and Oluyole local government areas, as well as Igangan axis and other parts of Ibarapa areas around the boundary between Oyo and Kwara states. All routes into the Oke-Ogun zone are said to now be hotbeds for kidnapping. Recent cases of kidnapping in the state include that of a female student of a health institute in Eruwa. She was kidnapped on Igboora-Eruwa Road. There was also the report of the abduction of two other persons who were travelling on the same road. Also recently, three women were kidnapped at Onipe community in the Idi Ayunre area of Ibadan. A hotelier, his wife, and seven other members of his family were also reported kidnapped in Ajaawa on April 24. Governor Seyi Makinde, a couple of weeks ago, inspected a security base established primarily to check kidnapping on Ibadan-Ijebu-Ode Road. The base is located in Mamu, a village in Oluyole Local Government Area. It is a border community between Oyo and Ogun states. At the event monitored by one of our correspondents, the governor said the base was a pilot project and the intention of the government was to secure all entry and exit points in Oyo State.

According to him, the joint security base has a Close Circuit Television (CCTV) and cameras that are being monitored from the state’s control room in Iyaganku, Ibadan. He stated that the personnel manning the security base were expected to call for reinforcement in dealing effectively with any suspicious movements or criminal activities. To ensure the presence of security agents at the base 24 hours a day, a joint team of men of the police, civil defence and military will be operating in shifts. Locals in the areas around the base will also be collaborating with the security agents in terms of providing useful information in a timely fashion. While inaugurating the base, Governor Makinde said: “This particular place has really been in the news for kidnapping, people coming across the border to perpetrate evil. “This is a pilot project and we want to secure all the entry and exit points to Oyo State. This is the border with Ogun State. If everything works well, because we have CCTV Cameras out there that are being monitored from the control room. “If anything is going on here, they can alert us so that the security agencies can deal with the situation appropriately. But for us, if we know people coming in and we can trace them or if any crime is committed inside the state and they want to run out, we can activate the process whereby they can be apprehended at the entry/exit points.” The governor presented five operational vehicles to the state police command and three to the Nigeria Security and Civil Defence Corps (NSCDC)vin the state to support the security base. Governor Makinde is also presently heading an 11-man security task force as part of measures to address security challenges in the state. The wise learns from others' misfortune and takes protective measures. A measure of the pacesetting culture of Oyo is the recent decision of the governor to weave a special security cordon round schools, especially the very vulnerable ones across the state. At the inauguration of the security

task force in his office in Ibadan, recently, Makinde said the body was set up to address the various security challenges and ensure that the state was always on top of security situations. He said that with recurring incidents of kidnapping, especially of students in the North, the state had to be on its toes to prevent such kidnappings and tackle all other forms of criminality. He added that the committee would regularly link with traditional rulers, stakeholders across all local councils, political stakeholders, and different ethnic nationalities to have requisite information on happenings across the localities. The state Commissioner of Police, Ngozi Onadeko, in what seemed to be in furtherance of the state government's crusade against kidnapping and other crimes, also visited an Ibarapa community, Ayete, on Thursday, May 6, where she urged the residents to partner with the police in solving the security problems that are being experienced in the areas. Onadeko had visited the town on Thursday for a firsthand assessment of the situation on the ground and to meet with other security agencies, traditional rulers, community leaders, indigenes and residents of the surrounding towns and communities, especially in Ibarapa North Local Government Area. According to the police commissioner, the visit became necessary following the incessant kidnappings occurring in Ibarapa towns and communities. In attendance were other security agencies, traditional rulers, community heads, religious leaders, social workers, local government representatives, local hunters and vigilante group members. “I have been concerned and worried about the spate of kidnappings and other violent crimes going on here. It is no use sitting down in Ibadan and issuing directives. It is better I come here and we all sit together, talk as a family, advise one another and find a solution to what is going on in our community,” the commissioner said. She said she was in Ayete to seek the people’s support “so that we can all work together and see how we are going to stop this issue of kidnapping and other crimes." Security experts who spoke with our correspondents agreed that the effectiveness of the newly established security base in Mamu will determine how the government will secure other entry and exit points across the state. One of the experts expressed the view that proper funding is a critical element in the success of the security project. He also also said that synergy among the security agencies as well as the cooperation of their local helpers would be crucial in successfully stopping the influx of bandits, kidnappers and other criminals into the state. He, however, warned the state government against losing sight of criminals and other miscreants that still constitute nuisance to security in towns and communities. r"KBZJ B TFDVSJUZ BOBMZTU XSJUFT GSPN 0HCPNPTP

T H I S D AY ˾ ͯͰ˜ 2021

BUSINESS/MONEYGUIDE

Kwara Offers Young Entrepreneurs Interest-free Loans Hammed Shittu ÓØ ÖÙÜÓØ Kwara State Government has rolled out plans to support young entrepreneurs in the state with interest-free loans ranging from N350,000 to N3,000,000 each, depending on the scale of their proposed businesses. Already, about 300 young entrepreneurs are set to benefit from the first phase of the programme and it will be for three months only. A statement issued in Ilorin, signed by the Acting General Manager of the Kwara State Social Investment Programme (KWASSIP), Alhaji Mohammed Brimah stated that, “An ambitious plan of Governor AbdulRahman AbdulRazaq to invest in and raise a new generation of successful young men and women.” He said that, “One of Nigeria’s biggest investment in businesses owned by young people, Kwapreneur is open

to Kwarans with viable and scalable business ideas and are not more than 35 years old. “Registration is open through http://www.Kwapreneurs.com. Application runs from May 10 to May 18, 2021. “The first phase of the programme targets at least 300 youngsters with viable business proposals, the statement said, adding that at least 1,200 young people will benefit from the initiative over the next four years.” Brimah added, “Successful applicants will be trained and supported with interest free loans ranging from N350,000 to N3,000,000 each, depending on the scale of their proposed businesses.” He said, “Kwapreneur has been designed to harness the potentials of enterprising youths and raise a new generation of leaders through sustainable empowerment, thereby spurring socio-economic

growth and job creation in the state. “Young people are to the nation what the heart is to the body. They drive and make it beat. Kwara under this administration believes in the talent and industry of her youths. “To hasten economic development, we need them to become employers of labour. This is why we are to support young people with visionary ideas with interest- free loans for their businesses”. He stressed that, “The application process will be in stages, including idea pitching and presentations, and training on business development before receiving funds. “The youths-oriented programmes under KWASSIP are numerous. We have previously organised training for about 15,000 youths in basic digital skills, while we are looking to hit the 30, 000 mark in the next two years.”

MARKET INDICATORS

Guinness Nigeria Grows Profit by 35% to N1.8bn in Nine Months Goddy Egene Guinness Nigeria, a subsidiary of Diageo Plc, is on the way to delivering a bounteous harvest to shareholders for the year ending June 30, 2021, given its results for the nine months to March 31, 2021. The total beverage alcohol company, posted a revenue ofN114.956 billion, representing a growth of 20 per cent above the N96.019 billion recorded in the corresponding period of 2020. The company reported a profit before tax (PBT) of N4.463 billion, which was 123 per cent above the N2.005 billion in the corresponding period of 2020. But profit after tax (PAT) grew slower by 35 per cent from N1.362 billion to N1.838 billion because of higher tax charge. The company said the perfor-

mance, which was a significant improvement when compared to the same period last year, was a testament to an unwavering commitment to meeting consumer demands as well as the company’s resilience in a challenging operating environment. Managing Director/CEO, Guinness Nigeria Plc, Mr. Baker Magunda, said: “In the months ended 31 March 2021, Guinness Nigeria has delivered a growth of 54 per cent in the face of the challenging operating environment leading to a turnaround in the overall performance of the business in the nine months of our financial year so far. This stellar growth in the third quarter of our financial year is the main driver of the year to date 20 per cent revenue growth. “The growth is encouraging, however, considering varying degrees of Covid-related

restrictions which remain. Growth was primarily driven by increased off-trade channels sales and at home consumption. The strong growth is also partly because of a weak third quarter of the previous financial year, when VAT increase took place and COVID lockdown commenced.” According to him, they have delivered broad-based growth driven by double digit growth across all their focus brands and categories, which has further showed that their strategy is sound, and they are making unswerving moves to ensure their long-term competitiveness in Nigeria. “Despite reduction in exports, Guinness delivered double digit growth in volumes and revenue with the new Guinness Smooth innovation contributing significantly to this”.

S&P: FBNH, First Bank Boards’Changes Ensured Stability S&P Global Ratings yesterday said changes to the boards of FirstBank of Nigeria and FBN Holdings PLC (FBNH), recently directed by Central Bank of Nigeria (CBN), addressed the banking group’s corporate governance challenges and ensures the Nigerian banking sector’s financial stability. In a statement yesterday, it stated that its ratings on FBN and other Nigerian banks remain constrained by shortcomings in corporate governance and transparency, among other factors. The CBN recently replaced

the entire boards of FBN and FBNH, and reinstated the former executive directors and CEO, Dr. Adesola Adeduntan. The CBN had also requested FBN unwind certain exposures and divest from its participation in a non-permissible company, also pointing to potential corporate governance lapses at the bank. “However, Dr Adeduntan’s reinstatement and the re-appointment of the other executive directors underscores the CBN’s confidence in the existing management team to continue the turnaround of the

third-largest banking group in Nigeria, which has total assets of Nigerian N7.7 trillion. “We are of the view that the CBN’s historical approach has been more reactive than proactive, as illustrated by the Skye Bank episode. That said, recent actions, while disruptive in the near-term, may signal a more direct and possibly decisive supervisory approach to alleged failings in the management and governance of regulated institutions,” it stated. It, noted that FBN’s overall credit profile has gradually stabilised since 2016.

Rand Merchant Bank Wins Award Rand Merchant Bank Nigeria (RMBN) has announced that it recently won the ‘Outstanding Transformation by a Transaction Bank – Africa,’ award. According to a statement, the award was part of the inaugural Digital Banker Middle East & Africa Innovation Awards 2021. The awards honor and celebrate the region’s preeminent banking institutions, identifying best-in-class performance, innovation, delivery and execution in transaction banking and risk

management. RMBN was honored for its platform - RMBN Digital - an online banking platform that enhances the transactional banking experience of its clients. Head of Corporate Banking, RMBN, Taiwo Shote, said: “We center our business around our client needs and built an online banking offering from scratch in response to this. “This was an important transformation for our business, and we are thrilled to be

recognised as an innovative and outcome-driven bank.” He added: “RMBN’s online banking offering promotes efficient cash management through adequate and accurate financial reporting as well as the timely processing of transactions. “We created a digital banking platform for our clients that allowed them to access and activate banking transactions on the go, while having a full view of all their transactions across different sectors and markets.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY, 10 MAY 2021

The price of OPEC basket of thirteen crudes stood at $67.10 a barrel on Monday, compared with $66.57 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY ˾ ͯͰ˜ ͰͮͰͯ

FSDH Funding SPV Lists N12bn Bonds on FMDQ Exchange Goddy Egene FMDQ Securities Exchange Limited has approved the listing of the FSDH Funding SPV Plc’s N7.05 billion Tranche A and N4.95 billion Tranche B Series 1 Fixed Rate Bonds, under the company’s N30 billion Debt Issuance Programme on its platform. FSDH Funding SPV Plc is a special purpose vehicle set up to raise capital from the

Nigerian debt capital market for FSDH Merchant Bank Limited. Speaking on the issuance of the bonds, the Director, FSDH Funding SPV Plc, Mr. Adekunle Awojobi, said they were pleased about the successful N12 billion capital-raise under the FSDH Funding SPV Plc’s N30.00 billion Debt Issuance Programme. “The bond issue is the first series under the programme and comprises of two tranches (Tranche A & B) of subordi-

P R I C E S MAIN BOARD

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DEALS

nated and senior bond notes, each with a 5-year tenure. The listing of the bonds on FMDQ’s platform will help provide visibility and enhance the liquidity of the bonds. The net proceeds of the bond issue will be used to fund the growth of risk assets of the sponsor, FSDH Merchant Bank Limited. A portion of the bond issuance will serve the dual purpose of shoring up the bank’s Tier 2 capital, in line with its internal

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capital adequacy assessment process,” he said. He commended Union Capital Markets Limited for facilitating the listing of the bonds on FMDQ Exchange and the issuing houses, Stanbic IBTC Capital Limited, FSDH Capital Limited, Rand Merchant Bank Nigeria Limited, and United Capital Plc for their support in ensuring the successful capital raise”. Speaking in the same

T R A D E D MAIN BOARD

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vein, the Director, Union Capital Markets Limited, Mr. Egie Akpata, said: “We are delighted at the successful listing of the N12.00 billion FSDH Funding SPV Plc Series 1 bonds on FMDQ Exchange. The listing of the bonds on the exchange allows for liquidity and trading of the bonds which is positive for the investors. We are glad that Union Capital Markets Limited was instrumental in

O F

the successful listing of the bonds on FMDQ Exchange and thank the board and management of FSDH Merchant Bank Limited for the opportunity to work with them.” Meanwhile, trading at the stock market remained bullish as the Nigerian Exchange Limited (NGX) All-Share Index appreciated by 0.2 per cent to close at 39,382.96, while market capitalisation added N36.6 billion to be at N20.5 trillion.

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WEDNESDAY, ͹ͺ˜ ͺ͸ͺ͹ ˾ T H I S D AY

PAGE FOURTY-TWO

Security Chiefs Get Three Weeks to Curtail Rising Insecurity Get approval for fresh measures to curb strife in South-south, South-east Nigerian, Nigerien armies to collaborate to rescue Katsina abducted worshippers Deji Elumoye and Kingsley Nwezeh in Abuja The nation’s security chiefs yesterday got a fresh ultimatum of three weeks to abate the worsening insecurity in the country. This was one of the conclusions of the National Security Council (NSC) meeting presided over by President Muhammadu Buhari in Abuja. The council has, therefore, given them a mandate to evolve new measures to combat insecurity in all the 11 states in the South-south and South-east. The mandate to the security chiefs came against the backdrop of the rising cases of attacks by non-state actors on police and other agencies' facilities as well as personnel, especially in the South-east. However, the Nigerian Army has said it will collaborate with its counterpart in the Niger Republic to track fleeing bandits who kidnapped 45 worshippers from a mosque in Jibia, Katsina State, and rescue the remaining 10 victims in custody. The NSC at the meeting in Abuja also decided not to publicise henceforth measures to be deployed to tackle insecurity in the country for a more effective result. Acting Inspector-General

of Police, Mr. Alkali Usman, who briefed newsmen after the meeting, alongside the National Security Adviser (NSA), Maj. Gen. Babagana Monguno (rtd), and the Chief of Defence Staff, Gen. Lucky Irabor, stated that Buhari approved the overhaul of the security apparatus in both South-south and South-east. The security chiefs were also joined by Buhari’s Special Adviser on Media and Publicity, Mr. Femi Adesina, who stated that the president, by presiding over the council meeting three times in two weeks, “shows the premium the president and the administration have placed on security issues.” Usman said the meeting assessed the situation in the country, particularly in the South-east and South-South, as it affected law and order. He said: “We have some measures, which we have outlined and have been approved by the council and we'll see how we can change the narrative within the quickest possible means to restore law and order and restore peace in that area. We solicit all law-abiding citizens to work with us to identify and deal with the situation. That is that; I may not go into the details of how we will do that.” The NSA said the meeting emphasised the need to address

the security challenges facing the country, particularly those that cropped up in the last few months. Monguno said the president gave marching orders to deal with the emerging problems physically. He said: “The first two meetings were inconclusive, but today's meeting is the final in the three meetings. Again, Mr. President’s concern at the growing trend of insecurity has been highlighted and the meeting, basically, was briefed by the National Security Adviser, the Chief of Defence Staff and the Inspector General Police. “I briefed the meeting on strategic issues in relation to security, while the Chief of Defence Staff briefed on operational issues, and InspectorGeneral of Police briefed on constabulary matters. On my part, I briefed council on the enablers of crime and the need to find quick responses with a view to mitigating the growing threats to society. “These enablers are discussed in detail and Mr. President has already given direction on how to deal with them, specifically issues of drug abuse as propellants for crime, how to make the criminal justice system much more effective, as well as looking at issues of

unemployment, which of course, the Federal Executive Council had given approval, through previous memos on how to get 100 million people out of poverty, was also discussed. Then, again, the lack of an effective crime reporting system. “Again, the president has given direction on how to make these things effective. Already, the Nigeria Communication Commission (NCC) has been given certain instructions on how to deal with this, but by and by, the council has agreed that the level of insecurity in the country, especially in the last one month, is something that has to be addressed with the immediacy that it requires and at the operational level, of course, the Chief of Defence Staff has been working with the service chiefs and the recommendations they’ve made to the council are already being handled.” Also speaking, the CDS stated that decisions have been taken to boost the operations of the security agencies. Irabor said: “No doubt, farreaching decisions were made. On our part, just as the National Security Adviser indicated, I briefed on various measures that the armed forces, in partnership with other security agencies, the measures we’ve taken to stem the tide of insecurity across the

country. “The council was pleased with the actions and of course, the prayers that were made, which council has also graciously undertaken to look into. These, of course, have to do with manpower development, training and equipment issues, and thankfully, the glow on my face should, of course, give you an indication as to the graciousness of the National Security Council, in relation to the briefings that we've given in this regard and I believe that going forward, we shall be translating that and it will have some great impact on the security disposition across the country.”

Nigerian, Nigerien Armies to Collaborate to Rescue Katsina Abducted Worshippers Meanwhile, the Nigerian Army has said that it will collaborate with its counterpart in the Niger Republic to track fleeing bandits and rescue their victims. The Army high command has also said that troops of 17 Brigade, in conjunction with the police, averted a planned attack by bandits on Magama Central Mosque in Jibia Local Government Area of Katsina State where people had gone to

observe the late-night Ramadan prayers. It said the situation was under control as reinforcements had arrived the area. The bandits had on Monday abducted 45 worshippers, but the police said 35 of the victims were recovered while 10 were still with the bandits. A statement signed by army spokesman, Brig. Gen. Mohammed Yerima, said the army was collaborating with Niger Republic military to track the kidnappers, with a view to rescuing the victims. It said the bandits were forced to withdraw following the superior firepower from a combined team comprising troops and police personnel, who were tactically deployed in the town following earlier intelligence received on the planned attack. "On getting the information, the combined team mounted a pursuit on the bandits, forcing them to abandon most of the hostages while fleeing with an unknown number. The rescued victims have since been reunited with their families while further efforts are ongoing to rescue the others in collaboration with neighbouring military establishments, including those of Niger Republic," the army said.

SOUTHERN GOVERNORS CALL FOR NATIONAL DIALOGUE, RESTRUCTURING, END OPEN GRAZING They said in the communiqué, read by the Chairman of the forum and Ondo State Governor, Mr. Rotimi Akeredolu, that they had resolved to foster cooperation among the Southern states and the nation at large. The communiqué added that the governors reviewed the situation in the country and deliberated on the current security situation, agitations/ restructuring, prospect for inter-state collaboration and partnerships as well as on the incidence of the COVID-19 pandemic. Their conclusion: “We affirm that the peoples of Southern Nigeria remain committed to the unity of Nigeria on the basis of justice, fairness, equity and oneness, and peaceful coexistence between and among its peoples with a focus on the attainment of shared goals for economic development and prosperity.” Observing that the incursion of armed herders, criminals, and bandits into the Southern part of the country has presented a severe security challenge such that citizens are not able to live their normal lives, including pursuing various productive activities leading to a threat to

food supply and general security, the governors said open grazing has to stop. “Consequently, the meeting resolved that open grazing of cattle be banned across Southern Nigeria,” they said, noting that development and population growth has put pressure on available land and increased the prospects of conflict between migrating herders and local populations in the South. Given this scenario, they said, it has become imperative to enforce the ban on open grazing in the South, including cattle movement to the South by foot. The governors also recommended that the federal government should support willing states to develop alternative and modern livestock management systems. They added that the progress of the nation requires that urgent and bold steps be taken to restructure the Nigerian federation leading to the evolution of state police, review of revenue allocation formula in favour of the sub-national governments and creation of other institutions which legitimately advance the commitment to and practice of true federalism.

“In deference to the sensitivities of our various peoples, there is a need to review appointments into the federal government agencies, including security agencies, to reflect federal character as Nigeria’s overall population is heterogeneous.” They expressed concern over the continued gridlock on the Oshodi-Apapa Expressway and the chokehold, it exerted on the nation’s economy being the sole outlet from Apapa Wharf. To ease the gridlock, the governors recommended the activation and establishment of ports in other states of the federation to create new jobs and promote socio-economic activities in the country. The governors also expressed concern over the economic implications of another lockdown on the country, and suggested greater coordination and cooperation between the federal and state governments in evolving strategies for dealing with the pandemic. They further “expressed very grave concern on the security challenges currently plaguing the nation and strongly urged that Mr. President should address Nigerians on the challenges

of insecurity and restore the confidence of our people. Besides Akeredolu, other governors at the meeting were Dr. Okezie Ikpeazu of Abia State;; Chief Willie Obiano of Anambra State; Senator Duoye Diri of Bayelsa State; Chief Dave Umahi of Ebonyi State; Mr. Godwin Obaseki of Edo State; Dr. Kayode Fayemi of Ekiti State; Hon. Ifeanyi Ugwuanyi of Enugu State; and Mr. Babajide Sanwo-Olu of Lagos State. Others are: Prince Dapo Abiodun of Ogun State; Mr. Seyi Makinde of Oyo State; and Chief Nyesom Wike of Rivers State. However, Prof. Ben Ayade of Cross River State and Mr. Adegboyega Oyetola of Osun State were absent, while Mr. Emmanuel (Akwa Ibom) and Senator Hope Uzodimma (Imo State) were represented by their deputies.

ACF Backs Ban on Open Grazing, Supports Restructuring Meanwhile, the Arewa Consultative Forum (ACF) has endorsed the position of

the southern governors' forum on the ban on open grazing of cattle. Spokesman of the ACF, Mr. Emmanuel Yawe stated this while reacting to the outcome of the governors' meeting in an interview with THISDAY yesterday. He however said before a decision should be taken on restructuring, Nigerians should first agree on whether the country should remain one before deciding on what structure to adopt. “On the issue of the ban of open grazing, I don't think there is much problem here with the stand of the ACF. “At our last National Working Committee meeting in Kaduna, the National leader of Miyetti Allah Cattle Breeders Association of Nigeria spoke to us at length and he said he and his organisation have decided that the only way forward and that is in the interest of MACBAN, is to embark on ranching and that they were waiting for governments policy on this”, Yawe said. He stressed further that, “If MACABAN wants open grazing banned, not only in the southern part of Nigeria

DESPITE PANDEMIC, NSIA’S INCOME RISES BY 343% TO N160BN In addition, it achieved 33 per cent growth in net assets to N772.75 billion, compared with the N579.54 billion it achieved in 2019. NSIA Managing Director, Mr. Uche Orji, said at a virtual media briefing yesterday that the organisation received an additional contribution of $250 million and provided the first stabilisation support to the federal government of $150 million withdrawn from the Stabilisation Fund, in the year under review. Similarly, the NSIA received $311 million from funds recovered from late Gen. Sani Abacha from the United States Department of Justice and Island of Jersey for funding of Presidential Infrastructure

Development Fund (PIDF) projects such as Abuja-KadunaKano Highway, Lagos-Ibadan Expressway and the Second Niger Bridge. “COVID-19 adversely affected logistics around infrastructure projects, especially the toll road projects, and the presidential fertiliser initiative. In response to COVID-19, NSIA partnered Global Citizen, a not-for-profit group, to form the Nigeria Solidarity Support Fund. Separately NSIA acquired and distributed oxygen concentrators to 21 teaching hospitals as part of corporate social responsibility, in addition to staffing support to the Presidential Task Force on COVID-19,” Orji said. Giving a highlight on the activities of Nigeria Infrastructure

Fund (NIF), he said projects under construction in the country had reached major milestones across domestic infrastructure projects in motorways, agriculture, and healthcare. According to him, in 2020, there were improved contributions from subsidiaries/ affiliates such as Infrastructure Credit Guarantee Company (InfraCredit), Nigeria Mortgage Refinance Company (NMRC) and Family Homes Funds Ltd (FHFL). The NSIA, he said, invested additional capital into NG Clearing, the first derivative clearing house in Nigeria to maintain NSIA’s shareholding at 16.5 per cent following the company’s rights issue of 2020.

Orji said the NSIA in 2020 launched its Nigeria Innovation Fund to address investment opportunities within Nigeria in information technology with an immediate pipeline that included data networking, data centres, software, and services as well as agri-tech and biotech. It also made progress on developing the ammonia and diammonium phosphate production plants in partnership with OCP in the review year, as it selected Ikot Abasi in Akwa Ibom as the venue after an extensive review of several other locations. He said: “In the year under review, COVID-19 adversely impacted NSIA key infrastructure projects, with

significant disruptions to the supply chains and logistics of NSIA’s key projects. NSIA maintained its three-pronged investment approach: direct investments, co-investment with partners, and creation of financial institutions to fill critical institutional voids in the infrastructure landscape. In 2020 the Authority recorded significant progress on all fronts. “Over the past six years, the Authority has invested significantly in crucial subsectors of the financial landscape with the intention of bridging critical voids that otherwise constrain investments and smooth operations in the sector.

“In 2020, the access roads Continued on page 43

but all over Nigeria, who are we to say otherwise? “We are therefore in support of the stand of MACBAN and the Southern state governors.” He however said, on the issue of dialogue and restructuring, “the ACF has always believed in this if the aim of the dialogue is to promote the unity and progress of the whole country. “Our forum will dialogue with any state and group of people that share our cherished ideals of unity, justice, peace and progress”, Yawe said. On restructuring, he said “the ACF believes that before we make a decision on this, we should agree on whether Nigeria should remain one country before deciding on what structure Nigeria should take. “Our position on this is informed on the facts that some of the advocates of restructuring are at the same time advocating the dissolution of Nigeria. “Are they believers in Nigeria at all? We must all agree to let Nigeria be before we move forward.”

TOP GAINERS NGN NGN MEYER 0.05 0.57 PRESCO 6.90 78.90 UPDC 0.07 0.83 AFRIPRUD 0.55 6.55 UNITYBANK 0.05 0.60 TOP LOSERS NGN REGENCY 0.03 0.31 HONEYWELL 0.07 1.13 CUTIX 0.11 2.10 UNITEDCAP 0.24 5.76 CORONATION 0.02 0.51 HPE Nestle Nig Plc ₦1,420.00 Volume: 296.60 million shares Value: N3.36 billion Deals: 4,265 As at yesterday 11/5/2021 See details on Page 31

% 9.6 9.5 9.2 9.1 9.0 % 8.8 5.8 4.9 4.0 3.7

WEDNESDAY, ͹ͺ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Payroll Review to Remove Ghost Workers, Illegal Allowances, Says Ngige Onyebuchi Ezigbo in Abuja Minister of Labour and Employment, Senator Chris Ngige, yesterday shed more light on moves by the federal government to review payrolls and cut the cost of governance, allaying fears that the federal government would prune workers' salaries as part of the cost-saving measures. Rather, Ngige said at the opening of a meeting of the Presidential Committee on Salaries and Hazard allowance for the Health Sector, in Abuja that the federal government would only remove ghost workers from the payroll and also check illegal allowances

that are outside the approved template, as part of its costsaving measures. The organised labour had kicked against what it described as moves by the federal government to slash workers' salaries as a way of reducing the cost of governance. The organised labour was reacting to last week’s statement by the Minister of Finance, Budget and National Planning, Zainab Ahmed, at the National Policy Dialogue on Corruption and Cost of Governance in Nigeria, organised by the Independent Corrupt Practice Commission (ICPC), in Abuja, that President Muhammadu Buhari had directed the

National Salaries, Incomes & Wages Commission (NSIWC) to review the salaries of civil servants as well as the number of federal agencies. Besides, the federal government also intends to remove some superfluous items from the budget in order to cut the cost of governance. But Ngige, who dismissed reports of an imminent slash of workers’ salaries, said at no time did the government propose any pay-cut measure. The minister added that what the federal government was planning to do was to fish out fictitious workers and those earning unapproved allowances. The minister said the

government was also reviewing enterprises to know those productive and those that should be scrapped. According to him, rather than slashing the salaries of workers, the federal government will encourage productivity in the public service. He said: "I want to use this medium to dispel the erroneous report ascribed to the Minister of Finance and Budget Planning who is also chairman of the Presidential Committee on Salaries that the federal is planning to slash salaries of its workers. "I am the deputy chairman in that committee and there was never a time government said

it was going to slash salaries of the public servant. We never said so. “If anything, we are holding meetings like this to increase hazard allowance for those who are deserving, for those who are working and experiencing hazards in their place of work, those who are exposed to disease infections which may even cause their death. So, we did not in the Presidential Committee on Salaries say that we are going to slash salaries." The minister stated that the federal government was taking steps to carry out a personnel audit and an appraisal of their allowances to identify real

workers and fictitious ones. He said the plan was not to cut salaries. "Rather, what we are trying to do is to make sure that we know the actual quantum of persons who are labelled civil servants; that they exist. We want to have the actual figures. "We don't want to have ghost workers as they used to call them or fictitious workers. “Secondly, there are establishments or organisations where people have fixed their own allowances that did not pass through the normal channels - which did not go to the government's salary fixing agency, the Salaries, Incomes and Wages Commission.

to key players in the national petroleum industry, notably the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, and the Director of Department of Petroleum Resources (DPR), Mr. Sarki Auwalu, for their support for the FLNG project. According to him, other partners and critical stakeholders that are supporting the FLNG project include Afreximbank, NAPIMS, Templars, Vitol, Yahaska Energy Services Limited and the government of Delta State. “I am particularly thankful to the visionary Governor of Delta State, His Excellency, Dr. Ifeanyi Okowa, who from Day One, believed in our dream of building the first Floating LNG in Nigeria and has been of immense support since then. “We cannot thank him enough. Indeed, we are assuring all our partners and

stakeholders that we will not let them down,” Rone said. Auwalu, who attended the event virtually lauded Rone and his team for blazing the trail in building Nigeria first Floating LNG. He said: “It is a historic event today as UTM Offshore working with our support is actualizing Mr. President vision not just for gas and the diversification of our economy. “Mr. President has promised to migrate Nigeria to gas and that is what UTM Offshore is doing with the decision to build and operate and FLNG. It is a tortuous process but I can confirm that UTM Offshore has met all the requirements and that is why DPR gave the firm license to proceed with the building of the FLNG. “At DPR we have been monitoring closely what UTM is doing and we are very happy that they are working with the best firms and consultants in the world, in fact, first-class and globally

renowned firms are working with UTM Offshore to actualize this FLNG. DPR shall continue to guide and encourage UTM on this project.” An executive of JGC Corporation of Japan, Mr. Koji Sakrai, praised the vision and tenacity of Rone and his firm, pledging the commitment of his company to deploy the latest and costeffective engineering design and constructions modules in undertaking the project and assured that the task would be completed within schedule. Present at the agreement signing were the representatives of the GMD of NNPC, Mr. Abubakar Umar; representatives of Vitol, Mr. Chibuzor Ifeanyi; while Mr. Steve Brown also of Vitol joined virtually. An Executive Director, Afrexim Bank, Mr. Ibrahim Sagna, joined virtually, while Mr. Peter Olowononi and Mrs Ngozi Kalu-Mba, also from the bank attended the event.

opportunities to create value by the NSIA.” Orji also shed more light on the NSIA’s financial performance when he appeared yesterday on ‘The Morning Show’ on ARISE NEWS CHANNEL, the broadcast arm of THISDAY Newspapers. He explained that some of the NSIA’s portfolios were up by as much as 50 per cent in dollar terms in 2020, predicting that although the financial technology sector ruled the market last year, there will be a broader profit ecosystem this year as countries continue to open up on the back of increasing COVID-19 vaccine jabs. According to him, the body has been aggressive in terms of its focus on international equities, private equity investments, venture capital and direct investments in the international market, where much of the profits came from. He said with the exception of just one or two portfolios, every single asset class made substantial returns to the NSIA last year, with net profit of N108.9 billion. He predicted a broader recovery for the equity side of the investments this year, saying that although stock market growth in 2020 was largely anchored on technology, activities in 2021 will be driven

by aviation and the industrial sectors as the world opens up again. Uche stated that fixed income should be closely watched by investors, except for the impact of inflation, which he predicted would make interest rates go up and make fixed income instruments fall. "My view is that on the balance of risk, we are more likely to see interest rates go up than go down," he added, noting that venture capitalist funds are also being explored by the organisation. "On the average, we had almost 30 per cent returns in dollar terms and we are going to be more aggressive in venture capital,'' he said. Uche stated that the NSIA is also investing in fintech, software services, data networking as well as biotech and pharmaceuticals. Besides, the NSIA has also intervened in the diagnostics and radiology centres in Kano and Umuahia and the cancer centres at the Lagos Nigeria University Teaching Hospital (LUTH). It is also discussing with the University College, London, to develop pharmaceutical industries in Nigeria. On the Abacha loot, he stated: "The Abacha fund was $311 million that was returned to Nigeria by the

US Department of Justice and Island of Jersey and the agreement was to spread the money in equal measures across three projects. "These are the Lagos-Ibadan Road, Abuja-Kano Road and the Second Niger Bridge. Each of them will get $103million-$104 million. To spend the money, we have been required to have external auditors aside from our in-house auditors as Deloitte to monitor the disbursement of that fund. "A civil society group, CLEEN foundation has been appointed by the Ministry of Justice and also with the US government to also supervise the disbursement of the fund. So, you can imagine that every single pair of eyes possible are overlooking how these funds will be disbursed. "The fund is still there intact. Not a dime has been spent. It is being held in our accounts with the central bank." He added that another €4.2 was being expected to be repatriated, which the authorities have agreed should come to the NSIA to be used for the three projects. According to him, the NSIA is planning to invest more in healthcare sector this year, with the ramping up of infrastructure in Abuja and an eye on 20 such centres nationwide.

UTM OFFSHORE, JGC, KBR SIGN FIRST FLOATING LNG PRE-FEED CONTRACT “What UTM is doing is largely novel. It is the first of its kind in Nigeria and we are very excited about this trail-blazing project: The opportunity to build from the scratch, the first floating liquefied natural gas facility in Nigeria is humongous. That is why we cannot afford to settle for less hence our resolve to contract JGC Corporation, one of the leading firms in the LNG Construction sector in the world, to provide the Pre-Front End Engineering Design Services for this first Floating LNG facility in Nigeria,” Rone said. UTM Offshore Limited is pioneering the development of the FLNG facility in collaboration with LNG Investment Management Services (LIMS), a subsidiary of Nigeria National Petroleum Corporation (NNPC). The facility, a newly-built vessel, will receive gas feedstock from an existing offshore facility, treat it to

required LNG standard, liquefy the gas, store the LNG and offload to LNG carriers. According to Rone, the floating LNG, when fully completed shall have an LNG production capacity of 1.2 million metric tonnes per annum (mmtpa), Turret and Mooring System, Gas pre-treatment modules, LNG production modules, living quarters, self-contained power generation and utilities as well as capacities for LNG storage and offloading. At the landmark agreement signing event, Rone thanked President Muhammadu Buhari for creating an enabling environment for indigenous firms like UTM Offshore to equitably operate in the very sensitive and competitive upstream sector of the petroleum industry. He said that the resolve of UTM Offshore to embark on the huge project is steeped in the National Gas Policy of the Buhari’s administration.

Rone said: “At UTM Offshore, we completely agree with Mr. President that given Nigeria’s potential of about 600 trillion cubic feet of gas, the commodity has the enormous potential to diversify our country’s economy. “We also agree that the rising global demand for cleaner energy sources has offered Nigeria an opportunity to exploit gas resources for the good of the country. “We thank the president for making gas development and utilization a national priority to stimulate economic growth, further improve Nigeria’s energy mix, drive investments, and provide the much-needed jobs for our citizens in the country.” He expressed appreciation to the Minister of State for Petroleum Resources, Chief Timipre Sylva, for tenaciously driving Mr. President’s vision in the petroleum sector, particularly the gas policy. He also expressed gratitude

DESPITE PANDEMIC, NSIA’S INCOME RISES BY 343% TO N160BN to the Second Niger Bridge, 2A and 2B, 17.5 kilometres (Km) each (totaling 35km), were added to PIDF scope of work. "These had initially been part of scope expected to be carried out by the Federal Ministry of Works but owing to several challenges they have been unable to commence the projects leading to a transfer to the NSIA. The original scope of NSIA’s section was 10.7KM of bridge and road, bringing the entire project to more than 45Km. “As of year-end 2020, the original scope of 10.7km Second Niger Bridge is at 53 per cent completion with a completion target of 2022. The Lagos-Ibadan Expressway is at 66 per cent completion and is expected to be completed in 2022.” He added: “The initial scope of the Abuja-Kaduna-Kano Highway is at 66 per cent completion. However, please note that the scope of the project has been expanded from the rehabilitation of 92.5km along the three sections of the road to the full reconstruction of the entire stretch of 375km, as directed by Mr. President; this has extended the completion date. The NSIA is exploring options to shorten the completion timeline for the project.” According to him, the NSIA

ran the Presidential Fertiliser Initiative (PFI) from December 2016 to December 2020, adding that the operator company NAIC-NPK - has now been spun off to the Ministry of Finance Incorporated (MOFI). “The Authority’s role in the programme has shifted upstream. NSIA’s role is limited to importation, storage, and the wholesale of raw materials to blenders. In essence, blenders are expected to build the capacity to actively participate in the sub-sector. “Over the period it ran, 42 blending plants were enlisted under the programme while a total of 30 million 50kg bags of NPK 20:10:10 fertiliser were made available to the Nigerian farmers. Beyond serving a proof of concept for import substitution in the fertiliser space, the programme led to the creation of thousands of direct and indirect jobs across the agriculture value chain including in logistics, ports, bagging, rail, industrial warehousing, and haulage touchpoints amongst others. It also enabled the country to conserve foreign exchange that would have otherwise been used for subsidy payment,” he said. Commenting on his outlook for 2021, he said the NSIA would raise fund by issuing a Sukuk bond.

He stated: “Although NSIA believes the market is unlikely to repeat some of the performance of 2020, it is more likely that a broader market recovery will occur with economies opening unlike the case in 2020 in which technology stocks drove market performance. “In the Future Generations Fund, we expect to allocate more capital to venture capital, global equity markets, and increasing exposure to European equities where we had been underexposed in 2020. NSIA believes that the broad opening of the markets will provide a comprehensive lift to equities. “In the Nigeria Infrastructure Fund, the Innovation Fund is expected to be very active as we see opportunities in data centers, data networking, software, pharmaceutical manufacturing, and many others. “NSIA expects to complete concession, capital raise and operationalisation of the three PIDF road projects: Lagos-Ibadan Expressway, Second Niger Bridge and Abuja-Kaduna-Kano Highway. "Despite concerns around new waves of COVID-19, the Authority remains confident that with widespread vaccination programmes, global economies will continue to reopen and create more

WEDNESday MAy 12, 2021 • T H I S D AY

NEWSxtra

Afenifere Restates Call for Buhari’s Resignation James Sowole in Akure The apex Yoruba socio-political group, Afenifere, yesterday

restated the call for President Muhammadu Buhari to resign or step aside over his alleged inability to address insecurity

Tackle Break-up Agitations with Improved Security, Economy, Employment, JNI Tells FG The apex Islamic body in Nigeria, Jama’atu Nasril Islam (JNI), under the leadership of the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, has asked the federal government to address agitations for break-up of Nigeria by improving security, tackling the economic hardship and addressing the massive unemployment in the country. The Islamic body in its end of Ramadan fasting message said addressing those challenges would reinvent the spirit of patriotism among the citizens for an indivisible Nigeria. The statement signed JNI Secretary-General, Sheikh Khalid Abubakar Aliyu also urged Muslims to give out Zakatul-Fitr (Ordained Alms Giving at the end of Ramadan Fasting) despite the economic and intractable security challenges bedeviling the country. According to JNI, “bearing

in mind that by Allah’s will, tomorrow Wednesday, 12th May or next tomorrow Thursday, 13th May, 2021 shall mark the end of Ramadan fasting, to witness Eidel-Fitr celebration in-shaa’Allah. In the light of which Jama’atu Nasril Islam (JNI) under the leadership of His Eminence, the Sultan of Sokoto and the President-General, uses this medium to, once again show gratitude to Almighty Allah, the Exceedingly Merciful for sparing our lives to have observed the 2021 Ramadan Fasting – Alhamdulillah. “This however, shows the mortal nature of man and that time is transient. The valuable lessons learned in this year’s Ramadan fasting is that despite the seeming economic hardship and pervasive insecurity, the fasting was observed well and almost all mosques observed the Tahajjud (night) prayers.

Attacks on Military, Declaration of War, FG Warns Olawale Ajimotokan The federal government has issued warning to separatists and militant groups across the country that it would henceforth declare any attack on the military as an attack on the state and a declaration of war against the country. The Minister of Information and Culture, Alhaji Lai Mohammed issued the warning yesterday in Lagos at a press briefing with online publishers on national security. He condemned the growing trend in some parts of the country where military personnel whose responsibility was to protect the country were either maimed or killed by militants and separatist groups. He said the practice would no longer be condoned as its purpose was to instill fear in

the public and create a sense of insecurity among the public. Mohammed warned that the groups engaged in such dastardly act would pay dearly for their actions whether they were known or unknown gunmen. “Now, there is a growing dangerous trend which I will like to comment on. It is the practice of launching deadly attacks against the nation’s security personnel. Soldiers as well as police, customs and other security agents have been killed and maimed in some parts of the country in this growing trend of targeting security forces. I want to say, unequivocally, that any attack on our security men and women is an attack on the state and a declaration of war against the nation. It follows, therefore, that this will be countered with overwhelming force.“

Military Repels Boko Haram’s Attempt to Capture Maiduguri Michael OlugbodeinMaiduguri An attempt by Boko Haram fighters to infiltrate Maiduguri, the Borno State capital and the birthplace of the insurgency group was repelled by the military yesterday evening. THISDAY gathered that the attack, which lasted for over 30 minutes, left many houses burnt, while many children and women were declared missing. Residents of the Maiduguri were thrown into panic when the outskirt of the town, Jiddari Polo was attacked at about 6pm. Many people fleeing from the area into the main town, lamented that their homes were attacked. They alleged that the insurgents shot sporadically in the area, and threw powerful explosive devices

on some of the houses. As the sound continued to echo all around the town, women, children, and the aged persons were seen trooping into the city centre for safety. A source told THISDAY that many residential houses were completely burnt down at Jiddari Polo. It was however difficult to ascertain the number of casualties on the side of the combatants and civilian as it was already dark when the shooting ceased and soldiers had already condoned off the area. However, a lot of pictures were shared on social media among people in the town with some people in camouflage believed to be insurgents, felled by bullets.

and the dwindling economic challenges facing the country. The call was made during the 95th birthday celebration of the leader of the group, Chief Reuben Fasonrati, and the dedication of a church in his honour in Iju/Ita Ogbolu in Akure North Local Government Area of Ondo State. The Acting National Leader of the group, Chief Ayo Adebanjo, said the Buhari-led government had incapacitated the country

and had failed to address the increasing wave of insecurity and downturn of the economy. Adebanjo said that with the series of challenges confronting the country, Buhari ought to have resigned long ago without being forced to. He said the President had failed the people of the country, adding that there is no better time to leave but now. He argued that Buhari’s government can no longer handle

the situation. Adebanjo said ” I have told them that in a better and civilised country, he should have gone long ago. If he has self-respect, he should have gone because everything has to fall. “What is he presiding over? Is it over corruption, security, education? Law and order have broken down in the country for the past three years. It is only because Nigerians are over tolerance of despots; that is

why he is still there”. He berated the youth for failing the country, stressing that “the younger generation has failed the country. The country was not as bad as this when we were demonstrating for self-governance. “They want the old men to fight their cause for them. “Why should people like me be in the trenches at 93 and Baba Fasoranti at 95? Where are those in their 40s and 30s?

DEEPENING TIES…

Minister of State for Petroleum Resources, Chief Timipre Sylva (left); and the Korean Ambassador to Nigeria, Mr. Kim Young-Chae, during the envoy’s courtesy call on the minister at the Nigerian National Petroleum Corporation (NNPC) Towers, Abuja…yesterday

Tears as Remains of Pastor Dare Adeboye were Laid to Rest Chiemelie Ezeobi Despite efforts to maintain a stoic mien, tears poured in torrents as the remains of late Pastor Oluwadamilare, the son of General Overseer of Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, were laid to rest yesterday The third child of the family, P Dee, as he was fondly called, died last Wednesday in Eket, Akwa Ibom State, where he lived with his family and operated as the

Assistant Pastor in charge of Region 35. The 42-year-old, who fathered three daughters with his wife, Temiloluwa, was buried yesterday after a farewell service at the Youth Centre, Redemption Camp, along the Lagos-Ibadan Expressway . Prior to the funeral, the church, especially the youth wing, had organised service of songs and night of tribute, championed by the deceased’s brother, Leke Adeboye. At the funeral, the sermon

was delivered by Pastor Kola Oyeneyin, while the Presiding Bishop of Living Faith Church, a.k.a, Winners Chapel, Bishop David Oyedepo, prayed for the family. Tears poured as he was committed to mother earth after the farewell service. Among the dignitaries on ground were Oyedepo; his wife, Faith; Pastor David Oyedepo Jr; and Senior Pastor Covenant Christian Centre, Pastor Poju Oyemade; as well as thousands of worshippers and well-wishers, who connected

physically and virtually. In her tribute, the widow waxed poetic about the lengths her late husband often went to ensure she was happy. She wrote, “I write this with a heavy heart because I never knew it would be this soon. I can’t believe I have to talk about you in past tense. “I thank God for the wonderful life you lived. You were amazing inside and out. Yes, we had our differences and we fought.

FG Approves New Retirement Age for Health Workers To meet with workers over hazard allowance on June 1

Onyebuchi Ezigbo in Abuja The federal government has reached agreement with stakeholders in the health sector to grant new retirement age for workers in the sector. Under the new condition of service, the retirement age of health workers has increased from 60 years to 65 years. Also the retirement age for medical consultants is 70 years. Government also requested for three weeks to consider proposals

made by health workers under the auspices of the Nigerian Medical Association (NMA) and Joint Health Sector Unions (JOHESU) regarding enhanced hazard allowance. Speaking to journalists after a meeting between the Presidential Committee on Salaries (PSC), relevant federal government stakeholders, health sector professional associations and trade unions on the issue of hazard allowance and retirement age for health sector workers in government health establishments

at the Presidential Villa in Abuja yesterday, Minister of Labour and Employment, Dr. Chris Ngige said that federal government had acceded to the request by the unions in the health sector to extend the retirement age of the workers. “We made a lot of progress at today’s meeting, including approving new retirement age for health workers and taking their proposals on the new hazard allowance which the government side will go and study and come back with a

decision on June 1”. THISDAY gathered that NMA has proposed that health workers from level 1 to 6 be paid N60,000 monthly hazard allowance, while those from level 7 to 9 should earn 70 per cent of their consolidated basic salary as hazard allowance. NMA also asked that its members on level 10 to 12 be paid 60 per cent of their consolidated basic salary and that others on COMES 5 - 7 be paid 60 per cent of their consolidated basic salary as well.

Olawepo-Hashim Rallies Political Leaders to Save Nigeria Dike Onwuamaeze A former presidential candidate in 2019 general election, Mr. Gbenga Olawepo-Hashim, has called on political leaders in the country to unite and save Nigeria from imminent collapse. Olawepo–Hashim, who was the presidential candidate of the Peoples Trust (PT) in the last presidential election, reiterated his belief in a united and indivisible Nigeria and noted that “it is unfortunate that many are still

carrying on as if it is business as usual, while it is not!” He made this remark yesterday while expressing his views to journalists in Lagos that the time has come for political leaders in the country, irrespective of their political or ideological leanings, to put heads together and agree on a workable agenda that would stabilise this bleeding nation. “The nation is on fire and we must put it out right now! Nigeria’s political leaders across political lines in government and

out of government must urgently arrive at a consensus to secure the country and return it to a path of peace and unity in order to give hope to the citizens who desperately need to be assured that their father land can still work for them.” He added that the challenges confronting Nigeria would require the goodwill of all patriots to resolve because they “are larger than any particular political party in government or in opposition. They are bigger than any group’s

interest or ambition. Olawepo–Hashim also recommended a six point agenda as a pathway to security and peace in Nigeria, which include the establishment of a Defence Co-operation Agreement (DCA) with countries that are friendly to Nigeria in order to halt the threatening insecurity in the country. He said that those who are fighting Nigeria are from all over the world and multinational in their composition.

WEDNESDAY MAY 12, 2021 ˾ T H I S D AY

NEWSXTRA

PDP Insists on Electronic Transmission of 2023 Election Results Says invasion of Presidential Villa shows Buhari can’t secure Nigeria Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday said that the Independent National Electoral Commission (INEC) should

not have excuses not to use the electronic direct transmission of results in 2023 general election and other future polls. The party has also said it was alarmed by the invasion of

Mbaka Proceeds on Prayer Retreat, Shuts Down Adoration Ministry Christopher Isiguzo and Gideon Arinze in Enugu Enugu State-based Catholic Priest, Rev. Fr. Ejike Mbaka, has finally bowed to the directive of the Catholic Bishop of Enugu Diocese, Rt. Rev. Callistus Onaga, as he has proceeded on a one-month prayer retreat. The priest also announced the shutting down of the Adoration Ministry for the period of his retreat. Mbaka had last Sunday apologised to the bishop for the alleged destruction of facilities at the Bishop’s Court during a protest

by his supporters last week when his whereabouts was unknown. The ministry had sent out a notice early yesterday morning informing members of the church that Mbaka was proceeding on a one-month private prayer retreat. A message to that effect read: “Our Spiritual Director, Rev Fr Ejike Mbaka, wishes to inform his beloved adorers that he has embarked on a private prayer retreat that will end on June 10, 2021. “Consequently, no ministry activities shall be held in the ministry ground pending his return.

the Presidential Villa by bandits and armed robbers, describing the development as a further pointer to the collapse of security command structure under President Muhamamdu Buhari’s watch. The party’s position is predicated on INEC’s announcement of its readiness to conduct online (electronic) registration of voters for future elections. The PDP, in a statement by its

National Publicity Secretary, Mr. Kola Ologbondiyan, stated that since INEC could deploy technology to conduct online registration of voters, which entails electronic transmission of voter’s data to its central server, it should also conduct an electronic transmission of results directly from the polling unit to its central server. The PDP said: “Our party calls the attention of the commission to the fact that it no longer has

any excuse not to employ the direct transmission of results from polling units, which will ensure credible elections by eliminating manipulations, alterations, switching and the disappearance of election results during manual collation processes.” It added that if INEC could use the electronic platform for registration of voters, it could as well deploy the same technology

for electronic transmission of results in future elections, including those of 2023. Meanwhile, the PDP has said it was alarmed by the invasion of the Presidential Villa by bandits and armed robbers, describing the development as a further pointer to the collapse of security command structure under President Muhamamdu Buhari’s watch.

PROVIDING HOSPITALITY….

L-R: Group Executive Director, Corporate Services, Sifax Group, Mr. Bode Ojeniyi; General Manager, Lagos Marriott Hotel Ikeja, Mr. Janse Van Rensburg; Executive Director, Strategic Planning, Sifax Group, Wumi Eniola-Jegede; and Managing Director, Mac-Folly Hospitality Ltd. Mr. Chike Ogeah, at a press conference to announce the opening of Lagos Marriott Hotel, Ikeja, Lagos…yesterday SUNDAY ADIGUN

Boko Haram: Security Agents to Intensify Screening ofVehicles, Persons in N’Assembly Bawa: States Should Get Assets Recovered from Ex-govs Security agents at the National Assembly have introduced measures to verify and identify vehicles and persons entering the complex in response to Boko Haram threats. Following this development, circular titled: ’Strict Compliance with Security Protocol in the National Assembly,’ has been addressed to all senators, honourable members; Deputy Clerk to the National Assembly, Clerk, Senate Clerk, House of Representatives; all secretaries; Deputy Clerk, Senate Deputy Clerk, House of Representatives; all directors (including clerks to committees); and all members of staff. The Clerk to the National

Assembly, Mr. Amos Ojo wrote the memo dated May 7, 2021, through the Secretary, Human Resources and Staff Development, Abiodun Oladoyin. The circular read, “I am directed to inform all legislators and staff that in view of the prevailing security situation in the country and the National Assembly in particular, it has become imperative to beef up security measures to prevent the infiltration of undesirable elements into the National Assembly complex. “Consequently, security personnel have been mandated to search all vehicles and persons entering into the National Assembly.”

FG Rolls out National Action Plan for Mercury Use, Solid Waste Management Michael Olugbode and Kasim Sumaina in Abuja In order to eliminate poisonous gaseous emission into the air, the federal government yesterday rolled out the National Action Plan (NAP) for the reduction and eventual elimination of mercury use in the artisanal and small-scale gold mining sector of the country. The government also on unveiled the national policy on solid waste management and national policy on plastics waste management. The roll outs were done in conjunction and collaboration with the United Nations Industrial Development Organisation (UNIDO) with the presentation of the Nigeria’s National Action Plan (NAP) on Mercury in the Artisanal and Small-scale Mining Sector (ASGM). The NAP was successfully

completed by the UNIDO in collaboration with the Federal Ministries of Environment, Mines and Steel Development, and Health, and the World Health Organisation, which is an obligation to the Minamata Convention on Mercury to which Nigeria is a signatory. Speaking on the documents, UNIDO said it would chart a path to the future of gold mining and environmental sustainability in the country. The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite, in his good will message at the event, said NAP on Mercury in the Artisanal and Small-scale Gold Mining (ASGM) is a wellarticulated document which was put together based on baline data obtained from surveys of ASGM operators across the Nigeria gold mining belt.

The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, has stated that the position of the law is that recovered assets should be returned to the owners. Speaking on the issue of asset recovery when he featured on One-on-One, a programme on Nigerian Television Authority (NTA), Bawa said the law states

that assets recovered from former governors should be returned to the affected states. “When it comes to this issue of recovered assets, the provision of the law is very clear. There are victims of these crimes. Somebody has gotten somebody’s money fraudulently and assets are recovered from that individual. Of course, it will be returned to

him (the victim),” Bawa was quoted as saying in EFCC ALERT, according to The Cable. “State government lost money through its former governor; assets are recovered from that former governor. Of course, it will be returned to the state. Other assets that are recovered for the federal government, it will

be returned to the federal government. “But there are stages. Issues of identification, tracing, and recovery of assets are there; all these are stages. Of course, before trial is concluded in court where matters are charged, those assets recovered through interim forfeiture are managed by us.”

US Expresses Interest in Passage of PIB Ndubuisi Francis in Abuja The United States of America has declared its interest in the passage of the much-awaited Petroleum Industry Bill (PIB) in order to provide a clear roadmap for the Nigeria’s oil and gas sector as well as stakeholders. This is coming as the Minister of Niger Delta Affairs, Senator Godswill Akpabio, stated that it is in the interest of the global community to ensure a peaceful

Nigeria. The US Ambassador to Nigeria, Mary Beth Leonard, gave the indication in Abuja, yesterday when she paid a courtesy call on Akpabio. The envoy observed that making the PIB a reality was of interest to her country to ensure that clear-cut conditions for entry into the petroleum industry as well as operational guidelines are spelt out. She said: “I think that we

are all looking forward to the Petroleum Industry Bill becoming a reality so that there can be a predictable basis for entrance for companies entering or operating in the industry, and sort of predictable expectations for the population of the Niger Delta in that regard.” The envoy stated that she had visited Akwa Ibom State last week to be acquainted with some of the activities of the Ministry of Niger Delta

Affairs, noting that she was aware of a roadmap for the region that was supposed to come on stream in 2020, but may have been disrupted by the COVID-19 pandemic. Leonard stated that: “I know there had been a roadmap that was supposed to take place in 2020. Many of us had experienced our plans for 2020 not going exactly how we planned given the global pandemic.”

Igbo Group: Shoot-on-sight Order will Worsen Insecurity in South-east Sunday Ehigiator

A think-tank of Igbo intellectuals and professionals, Nzuko Umunna, yesterday wrote an open letter to the Chief of Army Staff, Lt. Gen. Ibrahim Attahiru, over the alleged shoot-on-sight

order against Igbo youths to the soldiers in the South-sast and South-south. It said such an order amounts to a declaration of war on Ndigbo if it was true. It also said the directive was tantamount to extra-judicially

exterminating innocent citizens, as there is no telling who might be part of the collateral, unintended casualties. The open letter titled, ‘Shoot-onsight order and ongoing extra-judicial killings in the South-east zone’, was signed on behalf of the group by Dr. N Odumuko and Dr. P. Mbanefo.

The letter was copied to the Chief of Defence Staff, Minister of Defence, Chief of Staff to the president, United Nations Agency on Human Rights, Human Rights International and United State’s Embassy in Nigeria.

Edo PDP Alleges Plot to Dissolve Party’s Structure Adibe Emenyonu in Benin-city Edo State chapter of the Peoples Democratic Party (PDP) has written to the National Secretariat of the party in protest against alleged plot to dissolve the leadership of the party at the ward, local government and state levels by the state Governor, Godwin

Obaseki. The party also frowned at the delay in the appointment of commissioners by the governor, which it alleged has completely excluded members of the party from the scheme of things in the affairs of the state The protest came barely three weeks after the state Chairman

of the party, Dr. Tony Aziegbemi, said the party is with the governor over the delay in constituting the state executive council. In a strongly-worded letter to the National Chairman of the party, Prince Uche Secondus, and signed by the state Chairman and Secretary of PDP, Tony Aziegbemi and Hillary Otsu respectively,

after a resolution passed in an emergency and expanded State Working Committee (SWC) of the party, the state PDP frowned at a purported state leaders meeting held in the Government House last Saturday, where it was allegedly resolved that the leadership of the party at all levels be dissolved.

SALLAH MESSAGES...

WEDNESDAY MAY 12, 2021 ˾ T H I S D AY

SALLAH MESSAGES...

Ramadan Fast Continues, Sallah Holds Tomorrow, Says NSCIA

Our Correspondents

The Nigerian Supreme Council for Islamic Affairs (NSCIA) has said the Eid-el Fitr festival will hold tomorrow (Thursday). It asked Muslims in the country to observe Ramadan fast today (Wednesday). The NSCIA, which made the clarifications in a statement in Abuja, said the crescent has not been sighted to end Ramadan fast. The statement was signed by the Deputy Secretary-General, of NSCIA, Prof. Salisu Shehu. The NSCIA said: “The Nigerian Supreme Council for Islamic Affairs (NSCIA) – under the leadership of its President-General and Sultan of Sokoto, His Eminence, Alh. Muhammad Sa’ad Abubakar, CFR, mni – wishes to inform the Nigerian Muslim Ummah that there was no proven report of the sighting of the crescent of Shawwal, 1442 AH on the 29th of Ramadan, 1442 AH.

Gbajabiamila, Secondus Call on Muslims to Pray for Nigeria The Speaker of the House of Representatives, Hon. Femi Gbajabiamila and the National Chairman of the Peoples Democratic Party (PDP) Prince Uche Secondus, have urged Nigerians, especially Muslims, to use the period of Eid-el-Fitr and pray for the country to overcome her challenges. In a statement by his Special Adviser on Media and Publicity, Lanre Lasisi, the Speaker called on Muslims to ensure peaceful coexistence with their neighbours. He said after supplications during the just concluded month of Ramadan, it was incumbent on the Muslims to pray that the Almighty Allah brings peace to the land. He said, ‘’Nigeria faces challenges at the moment, which is why as citizens, we should pray to our Creator for solutions even as leaders try their best to address the issues. I congratulate Nigerian Muslims for the successful completion of fasting in the Holy Month of Ramadan, praying that Allah would accept their acts of ibadah during the period.

Sa FACILITY MANAGEMENT IN FOCUS…

L-R: Chairman, Nigerian Institute of Architect, Lagos State, Mr.David Majekodunmi; Faculty Member, Department of Estate Management, University of Lagos, Prof. Modupe Omirin; Chief Engineer, Park Inn by Radisson, Abeokuta, Ogun State, Dr. Felix Elerunndu; President, International Facility Management Association, Nigeria Chapter (IFMA),Mr. Segun Adebayo; General Manager, Lagos State Infrastructure Asset Management Agency (LASIAMA), Mrs. Nike Adekanbi; and Past President, IFMA, Mr. Stephen Ola Jagun, at the 2021 World FM Day at the University of Lagos… yesterday ETOP UKUT prudent management of resources and commitment to the welfare of the poor. The governor said this in Ilorin at the distribution of Ramadan gift, tagged ‘Baba for all’ to the vulnerable, physically challenged, widows and less-privileged across the 16 local government areas of the state. Governor AbdulRazaq added that the president has done exceedingly well in the area of infrastructure.

FCTA Bans Eid Prayer at National Prayer Ground

Uzodimma Salutes Muslims, Urges Prayer for Nigeria

The Federal Capital Territory Administration (FCTA) has banned Muslim worshippers from converging at the National Prayer ground along the Umaru Musa Yar’Adua Expressway (Airport Road) for the end of Ramadan fasting Eid prayers. The decision was taken on Monday at a meeting that took place between the Minister of the FCT Malam Muhammad Musa Bello and a delegation from the FCT League of Imams Initiative led by its Chairman, Imam Tajudeen M.B Adigun, to discuss the modalities of holding Eid prayers for the upcoming Eid-el-Fitr celebrations. In a statement signed yesterday by FCT spokesman, Anthony Ogunleye, all worshippers are enjoined to hold Eid prayers outdoors within the premises of their neighborhood Juma’at mosques. The minister said the decision was taken to prevent a possible third wave of COVID-19 as is being witnessed in some countries across the world.

Imo State Governor, Senator Hope Uzodimma, has called on the Muslim community to devote their time to praying for the unity of Nigeria, particularly in the face of current challenges posed by insecurity that threatens her oneness. Felicitating the Muslims for successfully completing their Ramadan Fast, Uzodimma also admonished them to reflect deeply on the teachings of Prophet Mohammed as they concern love for one another and peaceful coexistence. The governor recalled that the Covid-19 pandemic which is still ravaging parts of the globe, including Nigeria, and the threat of insecurity in different parts of the country, clearly test the resilience, dedication, patience and self-sacrifice of Muslims as true believers in the teachings of Prophet Mohammed. He then advised them to hold tenaciously to those positive attributes which their faith espouses.

Makinde Calls for Prayers to End Insecurity

Tambuwal Prays for Buhari, Sues for Peace, Security

Oyo State Governor, ‘Seyi Makinde, has congratulated Muslims in Oyo State and across the country, on the completion of the Ramadan fast and the celebration of Eid-el-Fitri. Makinde said it was a thing of joy that Muslims and nonMuslims have witnessed another celebration of Eid-el-Fitri, calling for prayers to end insecurity in the country. A statement by his Chief Press Secretary Mr. Taiwo Adisa, the governor enjoined Muslim faithful in the state and Nigerians to reflect the spiritual benefits of Ramadan, which include love, peace and justice in their daily living and through this, contribute to the development of the nation. He equally called on all Muslims not to depart from their good ways exhibited during the 30 days of spiritual exercise, which, he said, had drawn them closer to almighty Allah (SWT) with a lot of lessons learnt in the process.

Governor Aminu Waziri Tambuwal of Sokoto State has appealed to the Ulama in the state and everywhere in the country to sustain the tempo of the prayers that they have been offering for the peace and progress of the country. Recognising the uncommon efforts the Ulama has been making in ensuring that peace reigns in the country, in the face of unbridled banditry and sundry security breaches, the governor told the Islamic scholars that they should also not give up in praying for President Muhammadu Buhari. He made the calls when he hosted the Ulama to iftar (Ramadan breakfast) on the 28th day of the Holy Month of Islam at the Presidential Lodge of Government House, Sokoto on Monday. “God knows that both in private and in public we have Mr President’s safety and well-being at heart. We will continue to pray for his good health so that his wisdom and ability to pilot the affairs of state will not wither or flounder,” the governor stated.

Ortom Urges Nigerians to Pray for Peace, Security As Muslims celebrate this year’s Eid-el-Fitr, Governor Samuel Ortom of Benue State has called for sustained prayers to end insecurity in parts of the country. The governor in a statement by his Press Secretary, Mr. Terver Akase, believes that with prayers and commitment on the part of government and the people, the wave of killings, kidnappings, herdsmen attacks and banditry will be surmounted. He said the peace, security and unity of the country must be placed above personal and sectional interests, as keeping Nigeria safe and united is a task for all its citizens. The governor urged Muslims in the state to promote the values and lessons of Ramadan such as piety, generosity, peaceful coexistence and justice.

AbdulRazaq Hails Buhari’s Commitment to a Better Country Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, yesterday cautioned against disparaging of the person of President Muhammadu Buhari for no just cause. He said that the president as the leader of the country, deserves some respect and not denigration, especially in the light of his

Be True Agents of Change, Unity, Southern Senators Tell Muslims As Muslims all over the world end their 30 days of Ramadan fast, National Assembly members under the aegis of Southern Senators’ Forum (SSF), have advised the adherents of Prophet Mohammed to act as true agents of unity. The forum said shunning religious fanaticism by both Muslim and Christians remains the best weapon that can keep Nigeria a united nation, saying religious bigotry has done incalculable damage to Nigeria’s image, politics and economy . This was contained in a message issued by the forum’s Chairman, Senator Opeyemi Bamidele, congratulating the Muslims on eid-el-fitr celebration. Bamidele said the essence of Ramadan is to maintain piety among Muslim ad h e r e n t s a n d b r i d g e t h e g a p b e t w e e n t h e r i c h a n d t h e p o o r, a d v i s i n g t h a t t h e h o l i n e s s e x h i bited by Muslims during the 30 days fasting should be sustained in the

overall interest of the country.

Ekiti Monarch Sues for Peace The Chairman of Ekiti State Council of Traditional Rulers and Alawe of Ilawe, Oba Adebanji Ajibade Alabi, has congratulated Muslims in Ekiti State and throughout Nigeria on the celebration of Idel Fitri to mark the end of the Ramadan and urged the people to continue to pray for peace in Nigeria. Oba Alabi noted that the current spate of banditry, kidnapping, unwarranted killings and terrorism in the country calls for incessant prayers from religious leaders. He remarked that no tangible development can be recorded in a nation devoid of peace, stability and love. He therefore urged the Muslim faithful and other Nigerians to continue to preach and embrace peace.

Police Deploy 4,500 Personnel to Cover Celebration in Nasarawa The Nasarawa State Police Command yesterday said it had strategically deployed about 4,500 personnel to cover this year’s Eid-el-Fitr celebration in the state. The state Commissioner of Police, Bola Longe, disclosed this in statement signed by the command’s Public Relations Officer, ASP Ramhan Nansel, and issued to journalists in Lafia. According to the police commissioner, “the 4,500 police personnel are to cover major towns, Eid praying grounds, junctions, recreational centres and other public places. While rigorous patrol will be sustained on our highways for the safety of travellers. “Furthermore, undercover operatives have also been deployed to nook and crannies of the state for surveillance and information gathering.”

Kwara Police Warn Politicians against Turning Eid Praying Ground into Campaign Arena The Kwara State Police Command has warned politicians across the state against turning the Eid praying ground into a political campaign arena during the forthcoming celebration of Eid-el-Fitr in the state. The police command also said that it had deployed over 2,000 personnel that would keep vigil during the celebration as anyone caught with dangerous weapons at the Eid praying ground would be treated as criminals and would face the full wrath of the law. In a statement issued in Ilorin yesterday signed by the Police Public Relations Officer, Ajayi Okasanmi also warned trouble makers to stay away from the state as anyone caught will be made to face the full wrath of the law.

NASFAT Preaches Love for Nigerian Leaders The Chief Missioner of Nasru-Lahi-l-Fatih Society, NASFAT, Imam Abdul-Azeez Onike has urged Nigerians to fervently pray for the leadership of the nation at all levels for Allah to direct their affairs so that they can diligently discharge their duties and conduct themselves purposefully for the benefits of all. In his Sallah message, Onike noted that the Holy Prophet said everyone was a shepherd and was responsible for his flock, adding that the leader of people is a guardian and should be responsible for his subjects. Onike asked specifically for prayers for President Muhammadu Buhari who is the leader of the nation and prayers for other leaders in government, at home, workplace or in the society. He said that the call became necessary in view of the myriad of problems besetting Nigeria at this moment. He recalled that at this moment in time banditry, kidnapping for ransom, violent agitation for selfdetermination by some sections of the country, cultism, terrorism, gangsterism and many more vices have been the order of the day.

WEDNESDAY MAY 12, ͺ͸ͺ͹˾ T H I S D AY

WEDNESDAYSPORTS

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Iheanacho: Ndidi and I Never Lost Faith in Me

Nigeria and Leicester City’s inform striker Kelechi Iheanacho insists he never gave up hope that he would return to form even during his lowest ebb. Iheanacho, 24, was overlooked by Nigeria for the 2019 AFCON in Egypt after finding himself on

the fringes with the Foxes. In recent months though his fortunes have changed as he was named March’s Premier League player of the month, signed a new deal to keep him at Leicester until 2024 and is on course for a double award

N W F L P R E M I E R S H I P P L AYO F F

Pelican Stars, Abia Angels Survive Relegation Adibe Emenyonuin Benin City The duo of Pelican Stars Football Club of Calabar and Abia Angels of Aba yesterday escaped relegation at the University of Benin Sports Complex and thus will remain in the elite women’s league. Pelican Stars finished tops with five points on the table after playing a goalless draw against Ibom Angels in their last Playoff game. They went into the match with four points from two matches. Abia Angels of Aba finished second place with four points and zero goal difference to join Pelican Stars as the second team to escape relegation and remain in the NWFL Premiership. Abia escaped by the whisker as they lost 3-2 to Dreamstar Ladies in the last game of the Playoff . Abia opened a two-goal lead in the first half, only for Dreamstar Ladies who are

masters of the second half, to pull the two goals deficit back and shot into lead with a third goal to keep scores at 3-2. Dreamstar Ladies only needed to score just one more goal to pull through. They would have been on same minus one goal difference and would have won on head-tohead permutations. Unfortunately, by the time they shot into lead at 3-2the game was left with 2 minutes of pay on the watch. The Lagos team that also finished with four points, slided into relegation with a minus one inferior goal difference. Dreamstar Ladies and Ibom Angels will now play in the NWFL Championship next season, while Pelican Stars and Abia Angels will continue their sojourn in the NWFL Premiership League. The final matches of the NWFL Premiership Playoff officially marked the end of the Women’s Premiership League.

Leicester Defeat Man Utd to Crown Man City Premier League Champions Manchester City have won a third Premier League title in four years after closest challengers Manchester United were beaten 2-1 by Leicester City yesterday. Pep Guardiola’s side are now 10 points ahead of second-placed United, who have just three games remaining. It is the seventh time City have finished top of the English football pyramid and the fifth in nine years. Manchester City were crowned Premier League champions for the third time in four seasons as Leicester City secured their first Old Trafford victory over Manchester United since 1998 to take a major step towards a place in next season’s Champions League. Defeat for United means they are 10 points behind City with only three games remaining. Caglar Soyuncu’s far-post header was enough to bring a smile to Brendan Rodgers’ face and that of Pep Guardiola, whose dominance of the English

game is increasing. A United side showing 10 changes to the team that won at Aston Villa two days previously battled hard, with Mason Greenwood levelling after fellow 19-year-old Luke Thomas had put the visitors in front with a fantastic far-post volley into the top corner. Ironically, Leicester’s winner came from a corner that was delayed by the introduction of two United substitutes by manager Ole Gunnar Solskjaer. One of them, Marcus Rashford, was initially marking Soyuncu at the corner but lost the Turkey international in the build-up and Nemanja Matic was unable to repel the goal threat. Rodgers’ side now only require four points from their final two games to secure a top-four finish, although before that quest resumes, they will attempt to win the FA Cup for the first time in the club’s history against Chelsea at Wembley on Saturday.

for the month of April. “I think a lot of people wrote me off, but I never lost faith in myself,” Iheanacho told BBC Sport Africa yesterday. “I was going through a crazy and difficult time when things just didn’t work out for me. “But I’ve worked extremely hard, and also have the manager and other staff at Leicester, and most importantly brother and friend Wilfred (Ndidi) who stood by me. “It’s been a really tough ride but I’m just delighted it’s all come together for me.” Iheanacho is the Foxes’ top scorer this season with 18 goals, the first time since 2014-15 that Jamie Vardy has been in danger

of not leading the way. A far cry from a striker who had to wait 14 months for a Premier League goal between September 2018 to December 2019 leading to some severe criticism. Among those who criticised Iheanacho was the Nigeria manager Gernot Rohr who publicly questioned his commitment and professionalism to the national team back in 2019. Having helped Leicester City to their first FA Cup final appearance since 1969 and playing a huge role in their quest for Champions League football, the player believes his latest form goes some way to answering his

critics. “It was truly a bad patch and we all know that some people are always too quick to judge,” he said. “To hear some people come out now and start saying positive things again is only normal but I don’t even bother. “I only have to prove to myself that I can do this consistently, continue to grow, help my club and country when I get the chance to play. “We have a lot ahead of us. It’s that time of the season where you want to fight for everything in front of you and not get carried away.” Iheanacho has made 125 appearances, scoring 38 goals

and providing 19 assists, since moving to Leicester from Manchester City on a five-year contract in 2017. At international level, he has scored nine goals in 30 appearances for Nigeria since making his senior debut against Swaziland in November 2015. He starred as Nigeria won the 2013 Under-17 World Cup for a record fourth-time and emerged as the tournament’s outstanding player, being voted the Most Valuable Player. He also scored six goals to secure the Silver Boot as the competition’s second-highest goal-scorer.

Kelechi Iheanacho (left) and Wilfred Ndidi were both on duty as Leicester City defeated Manchester United 2-1 to crown Manchester City champions of the 2020/21 Premier League season

ANOCA Confers Highest Honour on Nigeria’s Sports Minister Olawale Ajimotokanin Abuja Minister of Youth and Sports Development, Mr Sunday Dare, has been honoured by the Association of National Olympics Committees of Africa (ANOCA) with the Highest Order of Sports Administrator Award for his immense contributions to the growth of the Olympics Movement and Sports in Africa. Conferring the Award on the Minister during a courtesy visit to his office in Abuja on Tuesday, President of ANOCA, Mr. Mustapha Berraf, said “ANOCA is happy with the role you played in ensuring the completion of our headquarters in Abuja. We are very proud of all that you have done for sports development in Nigeria and Africa. “We hereby present this award to you for your great

work and contributions to sports development. We are very proud of you and look forward to an enduring relationship for the future of our sports.” In his response, Mr. Dare said “Thanks for this honour and award which is quite special. When I met you in Morocco few months on assumption of office, the chemistry was spontaneous because of our love for sports development in Africa. Since I met you, I’ve learnt alot about sports in Africa and it’s bits of politics. You need an undying spirit to succeed in sports. “ANOCA has grown from strength to strength and we are proud of hosting ANOCAoffice on our soil. We sincerely thank the IOC President and yourself for the role you played in making Nigeria the Olympics capital of Africa. Thank you so much for the partnership you offer us,” Dare concluded.

On the 2020 Tokyo Olympics, Mr Dare said “Your visit is timely, coming at a time we are preparing for the Tokyo Olympics to use the power of sports and give hope to people that sports can conquer Covid-19. “As we look forward to Tokyo,

I wish that as Nigeria excels, Algeria can also excel so that we all can celebrate Africa’s success. I look forward to the invitation to the ANOCA meeting in Cairo, Egypt as well as the African Athletics Championships in Algiers.”

President of ANOCA, Mr. Mustapha Berraf (right) presenting the ANOCA Award to Nigeria’s Sports Minister, Mr. Sunday Dare in his oﬃce in Abuja...yesterday

Africa Needs Sustainable Sports Facilities, Says Egbe The Chief Executive Officer of Monimichelle, Ebi Egbe, has declared that his outfit is building sustainable facilities that are going to outlive tournaments, even as he insists that is what Nigeria and Africa need now. Egbe whose outfit constructed the Enyimba Stadium turf as well as several

other seven other pitches around the country said yesterday that Nigeria does not need what he called ‘tournament pitches’ which wither away the moment the tournament for which they are constructed is over. “Constructing tournament pitches is nothing but a

waste of money. What we do in Monimichelle is that we construct pitches which are sustainable. For over five years, our pitch in Aba has remained top notch...go and ask countries like Angola, Equatorial Guinea and Gabon what has happened to the pitches they constructed during the Africa Cup of

Nations. “The way forward is the nature pure hybrid synthetic pitches which we construct. They are FIFA certified, the ball behavior and foot stability are not in anyway different from a properly manicured natural turf pitch. Our pitches have zero undulation and very

safe for the end users, the players,” Egbe said. Egbe’s outfit is at the moment constructing the Awka City Stadium in Anambra State as well as the FIFA Goal Project edifice in Ugborodo-Escravos in Delta State. On the Awka City Stadium, Egbe disclosed

that the stadium would have the latest state of the art Monimichelle nature pure hybrid synthetic playing turf, even as he added that the arena would be the first stadium in the country that is special athletes friendly as this was put into consideration in the architectural design.

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Afenifere to Buhari “I have told them that in a better and civilized country he should have gone long ago. If he has self-respect, he should have gone because everything has to fall. What is he presiding over? Is it over corruption, security, education?” – The Pan Yoruba socio-political group, Afenifere, restating its call for President Muhammadu Buhari to resign.

KAYODEKOMOLAFE So, Who Will Speak up for Nigeria? S THE HORIZON

ince independence the unity of Nigeria has hardly ever been taken for granted. This topic is being revisited here because it is even dangerous to have false assumptions today about a united Nigeria under the watch of President Muhammadu Buhari. The basis of unity in the country is being called to question in virtually every part of the country. Therefore, it’s time those who genuinely believe in the unity of Nigeria spoke up for the beleaguered country. Unity has always been a prominent item on the national agenda in peace time and during crisis. The tragic civil war was fought to unite the country following the declaration of the Republic of Biafra with General Chukwuemeka OdumegwuOjukwu as the Head of State . Millions of lives were lost in the crisis. During the war the battle cry of the federal government was this: “To keep Nigeria one is a task that must be done.” More than 50 years after the war, it is unthinkable that the type of force, which the government of General Yakubu Gowon employed to keep Nigeria as one nation, could be applicable anymore. Instead, what is required at this conjuncture is playing the politics of national unity with the due sense of historical responsibility. In particular, Buhari should consciously give presidential leadership to promote national unity. His tenure may ultimately be defined by what he does or fails to do to promote national unity. At least, he could sow the political and social seeds that could germinate and grow to become trees in the forest of national unity. For instance, he could begin the process of restructuring by implementing the report of the 2014 national conference. He has more than 700 days to do so. After all, it took President Franklin D. Roosevelt only 100 days to lay the foundation of the New Deal for which he is remembered in history. Admittedly, Roosevelt had a clear vision of America that he pursued with policies and programmes. At the end of the Nigerian civil war, the nation was reunited. However, it has subsequently witnessed a lot of bloodletting in the course of crises in which national integration has been a factor. All the constitutions written for Nigeria have always have had provisions to strengthen national cohesion. Policies and programmes have been designed and executed to promote national integration. Some provisions in the Chapter II of the 1999 constitution are meant to bolster oneness in the country as one of the “Fundamental Objectives and Directive Principles of State Policy.” National broadcasts by elected presidents and military heads of state have been laden with exhortations about the imperative of national unity. For instance, on October 1, 1980, President Shehu Shagari, listed maintaining national unity as of the achievements of his government. This was just a decade after the civil war. Shagari’s National Party of Nigeria (NPN) fought the 1979 elections on the platform of national unity. Members and supporters of NPN were proud of the proclaimed achievement. The opposition parties, of course, would like Shagari to point to more “concrete achievements.” The party’s slogan was “One Nation, One Destiny.” The question of unity was also central to the politics of the second most popular party. The party answered the question with its name, Unity Party of Nigeria (UPN). The presidential candidate of UPN, Chief Obafemi Awolowo, campaigned on an unimpeachable social democratic platform. He sold the ideas of free education, free healthcare, full employment and integrated rural development. His traducers could not effectively fault him on what he called the “cardinal programmes.” Awolowo’s opponents, however, steadily put him on the defensive on the question of national unity. They accused him of

kayode.komolafe@thisdaylive.com

Buhari being an ethnic chauvinist who could not be more than a Yoruba leader. “Awo is a tribalist (sic)” was the common campaign against the UPN leader. Today virtually everybody is a believer in “true federalism.” It’s now little remembered that Awolowo was once crucified for his position as an unwavering federalist. He theorised about federalism and worked hard to put into practice when he had the job of the chief executive office as premier of the old western region (the present southwest and Edo and Delta). The point at issue here is that advocates of federalism were once accused of not being fully committed to national unity. The military regimes worsened the matter with their impolitic and mechanical drive for “unification.” Today, “true federalism” has been elevated to level of a panacea to Nigeria’s problems. Historically, however, some partisans of national integration used to be impatient even with the federalist idea. The foregoing is to demonstrate that the unity of Nigeria was once considered to be worthy of defence. On the contrary, to defend the unity of Nigeria is no more fashionable today because of the fissiparous ferment on the national horizon. Some strange tendencies in the crisis of nationhood are often ignored by pundits. One of such tendencies is for those who have the privileged of holding high national positions of responsibility and sensitivity to regress into being ethnic champions in retirement. Here we are talking of those who history had once put in vantage positions to see the complexity of Nigeria because of the responsibilities assigned them and information available to them. This tendency is immoral and indefensible. In the situation, a Nigerian who has commanded the Nigerian army or who was once the inspector-general of the police or the head of a security agency doesn’t see anything awkward in spewing ethnic prejudice against other groups in defence of its own ethnic or regional group. Similarly, something is wrong with a nation in which those who have headed the national parliament making laws for the federation transmute into regional champions and ethnic irredentists. Nobody thinks anything

Buhari should consciously give presidential leadership to promote national unity

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is strange for a one – time minister of the federal republic who was in charge of the formulation and execution of policies with great impacts (negative or positive) on the political economy and the society now supporting secession. In fact, it should be considered a political abomination for any former commander-in-chief of the Nigerian armed forces to ever belong to an ethnic or regional organisation. It is morally untenable. When you listen to some former national office holders on issues bordering on national unity you wonder how they managed to formulate or implement national policies in good faith with this mindset. The same principle also applies to those who have had the honour of representing Nigeria outside as symbols of the nation’s sovereignty. How can you build a nation when those who once managed the affairs of the nation are not willing to wave the nation’s flag anymore? The other day there was a referendum on the separation of Scotland from the United Kingdom. Significantly, two former British prime ministers of Scottish origin, Tony Blair and Gordon Brown, campaigned vigorously in support of Scotland remaining in Britain with a greater devolution of powers and other political reforms. As intangible as this point may appear, it is firmly at the root of the present grand assault on the idea of national integration. After all, every nation is built by its people with some persons thrown up by history to play decisive roles. To the separatists, it is naïve if not outdated to speak in favour of the unity of Nigeria. The most disastrous naivety, however, is to ignore the grave danger of anarchy that may descend on Nigeria in the event of disintegration. Whatever deficits this present dispensation may have recorded since 1999, it is still better than mobocracy (that is the democracy of the mobs) and the reign of ethnic warlords. With the heavily poisoned public sphere and free flow of arms it is sheer fantasy to imagine a neat and bloodless separation of any part of Nigeria. Worse still, separatist agitations that used to be on the margin of the political landscape are creeping to the centre stage with public intellectuals busy rationalising mob actions. Specifically, those who have proclaimed the republics of Oduduwa and Biafra with flags, passports and currencies in the cyberspace should ponder a point made about the fate of Nigeria by a fellow columnist on this page, Olusegun Adeniyi, when he spoke on May Day at the Platform, a programme of the Covenant Christian Centre in Lagos. Adeniyi concluded his highly perceptive presentation like this: “There is enormous strength in our diversity. If we get our acts together Nigeria will certainly be more than the sum of its parts.” Unfortunately, Buhari has grossly mismanaged the nation’s diversity. The agitators of Oduduwa and Biafra republics should, however, be persuaded to accept the proposition that Nigeria needs every part to be a great country just as every part needs Nigeria in the context of the nation’s history. Bishop Mathew Kukah is quite right when he says that it is “cheaper for Nigeria to remain united” than to disintegrate. Those who want the two major ethnic groups in the south to be carved into different republics seem not consider judiciously the fate of the dozens of minority groups in the south, not to speak of the northern ones in the event of national disintegration. In a most provocative manner, some intriguing maps of the proclaimed Oduduwa Republic include the geo-political space of ethnic groups in Edo and Delta states as if they are ethnically Yoruba. Similarly, the land areas of ethnic groups in the

south-south are included in some nostalgic maps of Biafra. The Yoruba and the Igbo are ethnic groups of tens of millions of people. There are other ethnic groups in the south that are only in hundreds of thousands; some are even in tens of thousands. And poignantly, some of these ethnic groups are located in the oil-producing areas of the Niger Delta where the environment is degraded and exploited and the people live in poverty after decades of extraction of petroleum from their backyard to sustain the Nigerian economy. Now it is projected that fossil fuel will substantially lose value in a matter of a decade. Essentially, the proposition of the Yoruba and Igbo separatists is that the ethnic groups of the Niger Delta become micro republics of poverty. That is a selfish proposition. These other groups are as different from one another as the Igbo and Yoruba are different from each other. In such a scenario, does anyone expect a neat emergence of a plethora of republics? While the Nigerian state should be told that unity cannot be forced or decreed into existence, it is also very important to make the separatists to see the futility of using violence to pursue their dreams. Neither the advocates of unity nor the separatists would benefit from the looming anarchy. In championing the cause of their respective ethnic groups, Ohaneze Ndigbo and Afenifere have wisely articulated the case for restructuring. The two organisations whose memberships include statemen have rejected secession. These ethnic organisations have sustained the clamour for restructuring in the most civilised culture of debate. Away from ethnic solutions, the debate has even been deepened and enriched from a populardemocratic perspective . For instance, remarkably from the Left, Comrade Edwin Madunagu, a Marxist, has been writing on restructuring in the last 35 years. He engaged the late Chief Anthony Enahoro who also made important contributions to the debate including giving the shape of a restructured Nigeria. Madunagu, who incidentally will turn 75 on Saturday, once encapsulated his propositions in many essays as follows: “Nigeria will remain a federal republic; the current principles of citizenship, fundamental human rights and principles of state policy will be enhanced; the federal government will give up a substantial fraction of its current appropriation to the states and local governments. The states, in turn, will finance the zones and the local governments will finance the communities. Finally—and this is the “magic” of popular democracy—the “cost of governance”, both in relative and absolute terms, will be much less than what it is at present.” The elites of the Yoruba and Igbo ethnic groups should be wary of the danger of the budding fascists in their midst waving the flags of ethnic liberation. There is this astonishing tendency of members of the elite conceding leadership to the mob out of frustration with the state of things in Nigeria. It’s a destructive path to take in the circumstance. All told, the collapse of governance at all levels is a major factor in the crisis plaguing the land. Burgeoning poverty demonstrates the failure of years of experimentation with neo-liberal socioeconomic policies. Doubtless, mass poverty is fuelling the soaring wave of insecurity which in turn exacerbates the threat to national unity. The Nigerian condition today is a bitter proof that unity can only be sustained on the basis of social justice and equity using the instrumentality of inclusive policies. Buhari’s professed agenda comprises Security, Economy and Anti-corruption (SEA). The President should be suggestible enough to add National Unity to its policy plate for the next 24 months. After all, SEANU doesn’t look a like a bad acronym!

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