MONDAY 23TH MAY 2022 by THISDAY Newspapers Ltd

AfDB to Lend $500m to Women in 2022, Says Adesina Says bank will not be defined by lies, biases of mischief makers

James Emejo in Abuja and Dike Onwuamaeze The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, yesterday said the bank would lend $500 million to women this year.

He added that the bank also paid out $483 million to financial institutions to lend to women businesses in 2021. Adesina in a statement he posted on his verified Twitter handle, @akin_adesina, added that with the support of French

President, Mr. Emmanuel Macron and the G-7, the AfDB’s Affirmative Action for Women in Africa (AFAWA) was raising $5 billion for women businesses. Adesina’s remarks came as the bank commences its Annual Meetings for 2022.

He said the board had approved a crisis response facility of up to $10 billion based on rigorous risk assessments when the COVID-19 pandemic struck, adding that it launched a $3 billion COVID-19 social bond on the global capital markets,

the highest ever US dollar denominated social bond in world history. He said, “Our rapid COVID-19 response facility helped towards stabilising African economies. It trained 130,000 health workers. It provided social protection for

about 30 million vulnerable households. It provided advisory support for 300,000 small and medium sized businesses.” He stated that to tackle the food crisis arising from the Continued on page 5

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Blasphemy Now New Ploy to Kill Christians, CAN Alleges…Page 10

Hayatu-deen: I Want to Change the Character, Complexion of Our Politics Former banker and presidential aspirant on the platform of Peoples Democratic Party (PDP), Mohammed Hayatu-deen, says he is in the race to change the character and complexion of

Nigerian politics. Hayatudeen said he was not a career politician, but only out to save the country from collapse, if elected president. He made the assertions

yesterday in Lagos during an interactive session with media executives. Hayatu-deen said as an economist he knew what was needed to kick-start the economy

and ensure Nigerians smiled again. He regretted the current killings in the country, saying it started in a part of Borno State, but has now enveloped

the whole North. The aspirant added that bandits and ISWAP insurgents controlled areas about 40 kilometres outside major cities in the north. He lamented that

Nigerians were only the cities but in the poor and vulnerable mainly children and

safer in villages, citizens, women,

Continued on page 5

Nwajiuba: Tinubu, Osinbajo, Amosun Not Suitable for Nigeria’s Current Work Plan Argues southwest angling for power makes no sense Declares Nnamani, Onu are disadvantaged by age Explains zoning is difficult after people had purchased forms Says bandits attacked Kaduna train because they thought they were delegates coming to collect dollar in Abuja Iyobosa Uwugiaren and Sunday Aborisade in Abuja With just a few days to the presidential primary of the All Progressives Congress (APC), presidential hopeful and former Minister of State for Education, Chukwuemeka Nwajiuba, has described the trio of Vice President Yemi Osinbajo, Bola Ahmed Tinubu, and Senator Ibikunle Amosun – all contenders for the APC ticket – as unsuitable for Nigeria’s current work plan. Nwajiuba, however, described the three contenders to the office of president as nice people. But he insisted that it made no sense for anyone from the South-west

to be pitching for the presidency of the country now, after former President Olusegun Obasanjo’s eight years in office and Osinbajo about to serve out another eight years as vice president. The former minister spoke exclusively to THISDAY in a presidential series interview. He said former President of the Senate, Senator Ken Nnamani, and former Minister of Science and Technology, Dr. Ogbonnaya Onu, were patriotic Nigerians with good intentions, but maintained they were disadvantaged by their ages, as they were above 60 years. On the question of zoning, Continued on page 5

From Tomorrow, THISDAY Analyses Chances of Leading Presidential Aspirants… Watch Out!

AMOSUN WOOS JIGAWA DELEGATES... L-R: APC Presidential Aspirant, Senator Ibikunle Amosun ﬂanked by Emir of Dutse, HRH Dr. Nuhu Muhammadu Sanusi and Governor of Jigawa State, Alhaji Muhammed Badaru Abubakar, during Amosun's visit to Jigawa State …recently

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Downstream/Midstream Commission Set to Release Regulations on Gas Pricing, Others Oil industry lacking strong corporate governance, says Ahmed Emmanuel Addeh in Abuja The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) yesterday said that it was drafting six regulations on midstream and downstream operations to ensure clarity, including on the issue of appropriate gas pricing. The Authority Chief Executive (ACE), NMDPRA, Mr. Farouk Ahmed, who spoke during a meeting with members of the Independent Petroleum Producers Group (IPPG) in Abuja, noted that the new regulations will further improve business processes and ease of doing business in the sector. Ahmed listed the other new regulations as: The environmental management plan, environmental remediation fund, decommissioning and abandonment, gas infrastructure fund and natural gas pipeline tariff. He also informed the group that a working team chaired by the Executive Director, Distribution Systems, Storage & Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, had been set up to review the draft regulations, engage and consult stakeholders for smooth implementation when released. “One of our key concerns is boosting local refining. Dangote and BUA refineries are coming on board; however, we want to see more companies investing in refineries so we can stop the importation of

refined petroleum products, save our foreign earnings, create jobs and add value to the economy,’’ he stated. The NMDPRA also acknowledged the gradual growth of indigenous players in local exploration and production of petroleum products, but said that more needed to be done. Ahmed further pledged the authority’s commitment in making the business climate in the midstream and downstream conducive for local and foreign investment to thrive. Earlier, the IPPG Chairman, Mr Abdulrazaq Isa said the group was an association of 25 indigenous Exploration and Production (E&P) companies with the vision to promote the continued development of the Nigerian petroleum industry for the benefit of industry stakeholders and the nation. Isa noted that timely communication with industry players was important at this time that the authority is going through a transition period. IPPG called on the NMDPRA to, as a matter of urgency, enact regulations on tariffs, domestic gas and clear license issuance modalities, amongst others. Meanwhile, Ahmed has said that the oil sector needs strong corporate governance from the players in the sector to be able to make the needed headway. Speaking when the Advisory

Board of Oil Trading and Logistics (OTL) Africa , led by Dr Mumuni Dagazau, paid him a visit in Abuja, he noted that a situation of unclear lines of authority wasn’t good for the industry. ”We can collaborate on information sharing, from your source, from our source, but it has to be credible, it has to be very transparent, so that anybody who wants to invest in the industry or in the sector, can see the projections based on the factual numbers. ”The industry needs very strict corporate governance, that is what we are lacking. Every player thinks he is indispensable and that is why

we are having some problems regarding distribution of petroleum products. ”Of course they have their own reasons. With due regards they are in the business to make money, they are also in the business to put regulations in place but when the consumer is being taken advantage of for whatever reason, it is not acceptable. ”So I agree with you that strong regulations and corporate governance is necessary in order to have confidence in the industry,” Ahmed said. On the forthcoming OTL Africa Downstream annual event, Ahmed

assured that the authority would take advantage of it and ensure its presence. ”We are always ready to collaborate with stakeholders but we must be mindful of the fact that we are regulators. We will look at your propositions and add where we can latch in because we need to also support our own internal capacities like the OTL,” he said. Earlier, Dagazau, who represented the OTL board chairman, Mr Tunji Oyebanji, called for partnership between the the organisation and the authority, adding that the collaboration would benefit both parties.

Also, Founder, OTL Africa Downstream, Dr Emeka Akabogu, said the organisation had transited to a repository for industry information for the purpose of advancing business, operations and policy. He said the authority has strategic role within the context of the Nigerian midstream and downstream industry and was positioned by virtue of the Petroleum Industry Act (PIA)to be exceptional. ”We want to collaborate with the Authority to ensure competition is effectively regulated, ensuring that the right standards are in place and a whole range of areas which propel the industry are explored,” he said.

APC May Screen Presidential Aspirants Tuesday Lawan appeals to Kano delegates for votes, says he is still in the race Sunday Aborisade, Adedayo Akinwale in Abuja and Ibrahim Shuaibu in Kano Strong indications emerged last night that the All Progressives Congress (APC) may screen all its presidential aspirants tomorrow. The party had yesterday postponed the exercise previously scheduled to take place today. The National Publicity Secretary of the party, Mr. Felix Morka, who announced the postponement, said a new date for the screening exercise

would be announced by the party. But a reliable source in the National Executive Committee (NEC) of the APC, told THISDAY that the screening might hold Tuesday. The National Organising Secretary of the party, Mr. Suleiman Argungun, had last week said the screening for the 2023 presidential aspirants would hold today. But Morka in yesterday’s statement explained: "The Screening Exercise for Presidential Aspirants of the All APC earlier scheduled to be held on Monday, May 23rd, 2022, is hereby

postponed. "A new date for the exercise will be announced shortly. Any inconvenience caused is deeply regretted." As of yesterday, the Screening Committee of the ruling party had not been constituted even before the exercise was postponed. The aspirants contesting on the platform of the party are: Vice President, Prof. Yemi Osibanjo former Governor of Lagos State, Senator Bola Tinubu; former Minister of Transportation, Rotimi Amaechi;

former Minister of Niger Delta Development, Senator Godswill Akpabio; former Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu. Others are: former Imo State Governor, Senator Rochas Okorocha; former Ogun State Governor, Senator Ibikunle Amosun; Pastor Tunde Bakare; Cross River State Governor, Prof. Ben Ayade; Ebonyi State Governor, Dave Umahi; Ekiti State Governor, Dr. Kayode Fayemi; former Continued on page 50

NWAJIUBA: TINUBU, OSINBAJO, AMOSUN NOT SUITABLE FOR NIGERIA’S CURRENT WORK PLAN which some have called an albatross in the party, Nwajiuba explained that it became difficult the moment everyone was allowed to purchase nomination forms. He suggested that the reason bandits recently attacked a Kaduna bound train might be because they thought most of the passengers were delegates heading to Abuja to share from a dollar rain by

aspirants, who had monetised the nomination process. According to the Imo Stateborn lawyer, who resigned his ministerial post to contest for the presidency, “You may be a smart person in the 60s, but the knowledge of economy has moved beyond your era. You might have governed Lagos State before, but those people you trained are also

doing fantastic. “That, then, did not make the knowledge resident in only you. You could have great leaders like Asiwaju Tinubu or men like Ibikunle Amosun, even the vice president, Yemi Osinbajo, who by their nature are very nice persons, they might not be suitable for the work plan now. “There are those, who mean

well but being challenged by the age factor, like the former senate president, Ken Nnamani. He is a lovely person, who has the interest of Nigerians at heart, but he may not be as strong as he used to be when he was in government. So, you must excuse him. “The same thing applies to Ogbonnaya Onu, who also has the challenge of age. They are

AFDB TO LEND $500M TO WOMEN IN 2022, SAYS ADESINA Russian-Ukraine crisis, the AfDB board last week approved a $1.5 billion African Emergency Food Production Facility to support 20 million farmers to produce 38 million metric tons of food. He also said in a bid to help Africa adapt to climate change, the bank is partnering globally with the Global Center on Adaptation, and with former UN Secretary General Ban Ki-moon to mobilize $25 billion in support of Africa. Adesina said, “The African Development Bank was ranked by Global Finance as the Best multilateral financial institution in the world in 2021. The African Development Fund

was ranked by CGD as second best in the world, ahead of all 28 concessional financing institutions in developed countries. “We are a AAA-rated financial institution, the only one in Africa. We have consistently maintained our stellar AAA credit ratings by all major global credit rating agencies, who consistently praise our excellent risk management at the bank. “We have an excellent and robust management and governance system. We deliver great value for our clients in Africa. Over the past six years, through our High five programmes, our work has impacted on 335 million people.

We deliver great value.” The AfDB president also tweeted that independently conducted survey by a global HR firm found 85 per cent of staff are happy with the bank, an exceptionally high level for any institution globally, adding that despite COVID-19 and challenges of working from home, 97 per cent of staff were pleased wit provided by the bank. He said, “IT services support Our achievements, exceptional management, good governance systems, and delivery of the Bank cannot be denied or misrepresented based on externally fabricated lies, distortions, misinformation,

and deliberately orchestrated campaign of calumny to attempt to tarnish our image. “We will tell our story. We will not be defined by mischief makers, lies and biases. We are proudly African. We will continue to make Africa proud as Africa’s only AAA financial institution rated. “As we start the Bank’s Annual Meetings for 2022, I wish to commend the Board of Governors, Board of Directors, Management and all the hardworking staff of the Bank for their relentless work. “I thank all our 81 shareholder countries for their incredible confidence and support.”

HAYATU-DEEN: I WANT TO CHANGE THE CHARACTER, COMPLEXION OF OUR POLITICS were being killed. Hayatu-deen said in the 80s and 90s, Nigerians used to shed tears whenever they heard that limbs were being cut in countries like Sierra Leone or when they heard about the genocide in Rwanda. "But today, we heard deaths in 50s and 60s, which is quite mind-boggling,” he stated. “This is unacceptable and we have to deal with this.” Hayatu-deen added, “And I can tell you that even if you increase the strength of the military by three, you will only be scratching the surface. We must not mistake the symptoms for the cause and that is why we have to look at the issue holistically and solve it once and for all." He stated that for Nigeria to successfully deal with insecurity, it would must create "economic, social as well as gender security".

Hayatu-deen said, "We are a country of 210 million people and from global statistics, Nigeria is one of the highest growing countries in the world if not the highest growing." He said there was nothing wrong with this if the country had the wherewithal to cater for the soaring population. According to him, "High population on its own is not bad as long as the country is ready to cater for the growing population. But the problem here is that we do not have any provision for these young Nigerians. As at now, we have over 170 million young Nigerians." He said there was a connection between insecurity and the growing army of able-bodied young men and women who were not adequately catered for. Hayatu-deen also spoke on the question of gender

security, saying, "Our women are hardworking and doing a lot of things, both for the society and the family. We need to encourage them and ensure they reach their peak. That glass ceiling has to be broken and allow them to reach the top." On his chances as an aspirant for the PDP presidential ticket, Hayatu-deen jokingly said he knew he was the rookie among the many career politicians jostling for the ticket. But he added that he drew inspiration from the likes of French President Emmanuel Macron, who, as investment banker, took the French political space by storm and won the presidency at less than 40 years of age. The former managing director and chief executive officer of FSB International Bank believed a noncareer politician could challenge the status quo and win. He said

he was confident of victory in the race and equally sure of PDP’s victory. He then challenged the media to play its role and ensure that the best candidates emerged in both parties. Hayatu-deen stated, "The media has a lot of role to play in sensitising delegates in both parties to ensure they pick the right candidates. You have to do this for us and ensure that Nigeria is rescued." He said he would not accept any appointment even if his party won the election next year. "My aim is to help my nation. No one would accuse me of being a bystander and didn't join in trying to salvage the nation when it was burning. My father admonished me to see Nigeria as the centre of my universe and that is what it has been. I really love this nation," Hayatu-deen declared.

good men. We also have younger elements, like the governor of Kogi State, who, very agile in his 40s, but he has not garnered a nationalistic experience yet. He must be given room to grow. “There are many constraints for different aspirants. We need somebody, who has the empathy, the energy, the enthusiasm, and exact understanding of the experiences and knowledge that are required.” Still on zoning and why some of his former colleagues in President Muhammadu Buhari’s cabinet opted out of the presidential race, Nwajiuba said, “Yes, maybe because they did not study the time frame very well. I don’t know whether they had certain other interpretations around it. Some may not have enough funds to pay for the forms. “About 3,816 people contributed the money, which I used to buy my own form and I've published their names. People contributed between N5, 000 and N500, 000 each within two weeks across the country. So, if we are going to build a consensus around the 24 aspirants, we will then talk about the location. “Nobody had zoned the positions before people started purchasing the forms. So, you cannot zone after they had purchased the forms. It is from the people, who are now available that you will look at what each aspirant is bringing to the table and how best would they solve Nigeria's problems.” Nwajiuba, who defended the decision by some northerners to join the race, said, “There are three people from the north, who purchased the APC presidential forms: President of the Senate, Ahmad Lawan; Governor of Kogi State, Yahaya Bello; and Governor of Jigawa State, Abubakar Mohammed Badaru. They all have the right credentials to be Nigeria's president. “They are men of foresight. They are from the North-east, North-central, and North-west. They are possibly in the contest to make a statement that if we are talking about national justice and fairness, we should only be

thinking of the South-east. This is because it is the only zone in the south that has not produced president since 1999. “However, for them to be seeing about eight people from the South-west suddenly laying claims to the same argument they had against the north makes it look very silly. This is because you cannot be accusing the north of something you are also perpetrating. “Olusegun Obasanjo had been president for eight years; Osinbajo has been vice president since 2015. Why should the South-west say the north should cede power to the south and that they must be the beneficiary? How does that make any sense of any type? “Yet they are asking the young patriots in the north to cede power to them. I am sure if the South-west pulls out of the presidential race, aspirants from the north would also rest their ambitions and allow the South-east to produce Buhari's successor in 2023.” Addressing allegations that he had not been going round to meet with delegates, probably, because he was complacent that Buhari already had his back, Nwajiuba said, “My job is how to organise the country. We have five delegates from each ward, including the chairman and the secretary. One of the remaining three delegates must be a woman. We were already a factor in every polling unit before the election started. That is how we think in modern times. “If you like buy two aircraft and be crisscrossing the country, once you leave your destination, other people will go and dine there. That is not how politics is done. We don't need to do dollar bazar on the day of the presidential convention. “We don't want the bandits to come and attack us, like they did the last time, when they attacked the train going to Kaduna, because the bandits thought they were delegates, who had come to Abuja to collect dollars. If we insist on bringing everybody here and cause a naira rain in Abuja, how will the poor people survive?” *Read full interview inside

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

PROCUREMENT AS FORCE FOR SOCIAL GOOD... L-R: Head Recruitment, Strategic Outsourcing Limited, Francesca Gabriel; Lead Strategist, So Media Solutions, Aramide Pearce; Managing Director, SupplierGATEWAY, Ade Solaru; Founder/CEO U-Connect Human Resources and Gr8jobsng, Omon Odike; Managing Director, Unilever West Africa, Carl Cruz; Corporate Aﬀairs and Sustainable Business Director, Unilever West Africa, Soromidayo George; Procurement Director, Unilever West Africa, Obinna Emenyonu; Finance/Project Director, Charlotte XpertSolutions Limited, Helen Ojei and HR Director Unilever West Africa, Ola Ehinmoro, at the launch of Unilever’s Procurement as a Force for Social Good in Partnership with SupplierGATEWAY, WIMBIZ, UN Global Compact Network and Nigeria Business Disability Network (NBDN) in Lagos...weekend

Report: Growing Inflation Eroding Purchasing Power of Nigerians Consumer spending now mostly limited to household essentials Emmanuel Addeh in Abuja Most Nigerians are no longer be able to afford major expenditure on discretionary or non-essential goods and services as inflation has continued to take its toll on their purchasing power, a new report by Fitch Solutions has shown. Tagged: “Nigeria 2022 Consumer Outlook: Elevated Inflation Will Weigh On Consumer Spending,” the leading global market and credit intelligence firm made a forecast that real household spending will grow by 3.6 per cent in 2022, a deceleration from the estimated 3.7 per cent growth in 2021. Discretionary spending refers to items such as recreation and entertainment, that consumers purchase when they have enough income left after paying the necessary expenses such as rent and utilities. A THISDAY review indicated that last month, the consumer price index, which measures the rate of increase in the price of goods and services, jumped amid increases recorded in food and energy prices. Last Monday, the National Bureau of Statistics (NBS) pegged the country’s urban inflation rate for April 2022 at 17.35 per cent (year-on-year) while the rural inflation rate was 16.32 per cent. Nigerians have continued to complain as the value of the naira continues to depreciate and the cost of essential goods and services keep skyrocketing. “We note that Nigeria's elevated inflation is a risk to our outlook for consumer spending in 2022 as it will negatively impact consumer purchasing power, limiting spending to essentials,” it stated. However, it noted that despite the erosion of value of the currency and associated inflation, total household spending in nominal terms will reach N150.9 billion in 2022, increasing from N128.5 billion in 2021. In addition, it said that private final consumption is forecast to grow by 3.5 per cent (in real terms) in 2022, consistent with the estimated growth of 3.5 per cent in 2021, aided by rising oil

production. But the report noted that continued forex shortages and slow productivity growth in the agricultural sector, which it said employs almost 35 per cent of the workforce, will prevent a sharper acceleration. “Since the start of 2021, inflationary pressures have been rising in many countries globally, as base effects, higher commodity prices and supply-chain challenges create localised shortages. “The Ukraine-Russia conflict has also significantly impacted

the global supply prices of key commodities, such as oil and gas, fertiliser, wheat, corn and barley. “The commodity price increases are already feeding through into higher consumer prices and will continue to do so over the year. “We believe that rising consumer price inflation is a key risk to consumer spending over 2022, as it has the potential to erode purchasing power and shift spending away from discretionary spending,” it pointed out. Nigeria's consumer price inflation had been trending lower in recent

months before elevating in April to 16.82 per cent, worsened by rising commodity prices and the weakening naira which has increased the cost of imported consumer goods. “In March 2022, Nigeria's food inflation was 17.2 per cent y-o-y due to increases in the price of bread and cereals, potatoes, yam and other tubers, fish, meat and oils and fats. “Our country risk team forecasts Nigeria's consumer price inflation to average 17.2 per cent in 2022, slightly higher than the 2021 average of 17.0

per cent y-o-y. The persistently high inflation will continue to negatively impact consumer spending power over 2022,” Fitch noted. On the back of the Russia-Ukraine war, it stated that supply chain issues and bottlenecks resulted in consumer goods shortages, feeding through into supply-side inflation. “ Fitch Solutions believes the global semiconductor shortage will continue..., putting pressure on the supply of several consumer goods,” it stressed. According to the firm, the Ukraine-Russia conflict is placing

significant supply pressures on key commodities, pushing up final market prices across a spectrum of consumer categories. Earlier in the year, the World Bank predicted that Nigeria may have one of the highest inflation rates globally in 2022, with increasing prices diminishing the welfare of Nigerian households. “In 2022, Nigeria is expected to have one of the highest inflation rates in the world and the seventh highest in Sub-Saharan Africa,” it said in its Nigeria Development Update.

Blasphemy Now New Ploy to Kill Christians, CAN Alleges Christians protest killing of Deborah Kaigama cautions against religious fanaticism Soyinka calls for sack, trial of Imam for Justifying Killing of Deborah Goddy Egene and Onyebuchi Ezigbo in Abuja The Christian Association of Nigeria (CAN) in the 19 northern states has raised concern that false allegation of blasphemy has now become an excuse to kill its members, especially those living in northern Nigeria. This was just as Christians in Nigeria yesterday observed a protest march against the murder of Miss Deborah Samuel Yakubu, a 200-level female student of the Shehu Shagari College of Education, Sokoto, for an alleged blasphemy by some Islamic extremists. Also, Nobel Laureate, Prof. Wole Soyinka, at the weekend called for the removal from office and trial of the Imam of the National Mosque, Abuja, Prof Ibrahim Maqari for incitement to murder for justifying the killing of the late Deborah. According to CAN, false allegations of blasphemy are now being used for blackmail or settling of scores with passive enemies or well-mannered young girls who allegedly refused sexual advances by the opposite sex from another religion. The Vice President of CAN in the 19 Northern States and

Abuja, Rev. Joseph John Hayab, stated this in Abuja, in reaction to the violence that erupted in the Katangan area of Warji Local Government Area of Bauchi State over an alleged blasphemy, few days after the Sokoto incident. The organisation therefore called on government authorities and security agencies to act fast to address what it described as, "this abuse of our constitution," before it leads to a more serious conflict that cannot be controlled. The Bauchi incident came barely two weeks after the gruesome killing of Deborah Samuel by Muslim fundamentalists over alleged blasphemy against Prophet Mohammed. The unrest in Bauchi started following a social media post by a 40-year-old staff of the Medical Department in Warji Local Government, Rhoda Jatau, which was considered as blasphemous to Islam. An unspecified number of people, including a pastor, sustained varying degrees of injury while many houses were burnt. In his reaction Hayab said, "Allegations of blasphemy have now become the new excuse by fundamentalists in northern Nigeria to kill the remnant that

bandits and terrorists have not yet killed. How can you justify the period of what happened in Sokoto, the allegation in Borno, the fake allegation on Babachir Lawal by one northern actor who we have on record how he made blasphemous remarks about Jesus Christ, but quickly went and brought it down on the internet to cover himself before coming out to falsely accuse Babachir Lawal, the former SGF? “And we are seeing another carnage in Bauchi under the excuse of blasphemy. We know and have evidence of how some of these allegations of blasphemy are false and just for blackmail or settling scores with passive enemies or well-mannered young girls who have refused sexual advances by the opposite sex from another religion. "We are also aware of how fanatics have in the past raised lies in the name of blasphemy. CAN wonders if the recent sermons we are getting from some Islamic clerics on what the Holy Quran says about what should be done if anyone is accused of blasphemy is unpopular amongst followers? "The challenge now is for government authorities and security agencies to act fast to address this

abuse of our constitution before it leads to a more serious conflict that cannot be handled.” According to him, "Nigeria’s Christians, most especially those of northern extraction have for ages exhibited tolerance despite many provocations and lack of reciprocation of our love and friendship. “But these new tactics for killing our people from any and every accusation of blasphemy are unacceptable to CAN and all Christian faithful. We will not accept this brutal way of murder and inhuman treatment of our followers to continue. "The government and security agencies should come out to enforce the law on every murderer hiding under religion. We will also wish to appeal to Christian leaders and parents to guide their children to resist any ungodly provocation that will make them say things that blood-thirsty fundamentalist can easily use to kill them." The CAN scribe appealed to religious leaders from both religious divides to intensify teachings about the evil of taking the laws into one hand and killing another person for whatever reason. "Alleged offenders should be reported to security agencies or

taken to any competent court of law for judiciary pronouncement. Nigeria is not a Banana Republic but a nation we believe should be governed by the rule of law," he said. Meanwhile, Christians in the country yesterday observed a protest march against Deborah’s murder. In Abuja, worshippers at the RCCG Central Parish Wuse 11 marched round the church to protest against injustice on Christians in northern part of the country. The Regional Pastor in-charge of the Parish led other worshippers in the protest march with all of appearing in sealed lips. The protest which commenced immediately after the day's Church Service at about 11.30 am saw protesters carrying placards with the inscriptions such as: " Stop the killing, God is watching; Let's be our brothers’ keeper, Don't defend the indefensible, Let's live together in unity, ‘No Killing in God's name," and "God is watching." Archbishop of Abuja Metropolitan Archdiocese His Grace Most Rev. Ignatius Kaigama in homily at St. Peters Catholic Continued on page 51

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NEWS

AMAECHI’S CONSULTATIVE MEETING WITH BORNO DELEGATES... R-L: Presidential Aspirant, Rt Hon. Chibuike Rotimi Amaechi with Borno State Governor, Prof. Babagana Zulum, Sen. Ali Ndume and former Chief of Army Staﬀ and Ambassador to Benin Republic, Lt Gen. Tukur Buratai, at Amaechi’s consultative meeting with delegates of the All Progressives Congress in Borno State,...yesterday

2023: We Won't Be Stampeded into Altering Timetable, Schedule of Activities, Says INEC Chuks Okocha in Abuja Against the backdrop of calls, especially by the Inter-party Advisory Council (IPAC) and the Abuja School of Politics and Social Thoughts, for time extension in the electoral timetable, the

Independent National Electoral Commission (INEC), yesterday, said political parties could not rush it into altering the schedule of activities it released since February 26 on account of their own poor preparations. INEC further said it did not

FG Appoints Nwabuoku to Oversee Accountant-General's Office

Ndubuisi Francis in Abuja

Following ongoing investigation into the activities of the AccountantGeneral of the Federation (AGF), Alhaji Ahmed Idris (AGF) by the Economic and Financial Crimes Commission (EFCC) over alleged financial impropriety, the federal government has appointed Mr. Anamekwe Chukwunyere Nwabuoku to oversee the Office of the Accountant-General of the Federation (OAGF). Idris was last week suspended indefinitely by the federal government following his arrest by the EFCC over alleged diversion of public funds to the tune of N80 billion. But in a letter dated May 20, 2022, and signed by the Permanent Secretary (Finance), Ministry of Finance, Budget and National Planning, Aliyu Ahmed, Nwabuoku was appointed pending the outcome of the investigation. In this position, he is expected to carry out his duty in strict compliance with extant rules and observe the highest sense of professionalism expected of an officer working at his level. A statement released by Yunusa Tanko Abdullahi, Special Adviser, Media & Communications, Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said Nwabuoku was born October 15, 1962 to the family of Mr. Robert O. Anamekwe in Ehime Mbano Local Government Area of Imo State. He holds a Higher National Diploma (HND) in Accountancy from the Institute of Management and Technology (IMT), Enugu and a Master of Science (M.Sc) in Financial Management from Commonwealth University, Belize. He started his civil service career with the Centre for Democratic Studies (CDS) and rose to the position of Principal Accountant

between 1992 and 1995. He was deployed to the Office of the AGF, Abuja from 1996 to 2001 as Assistant Chief Accountant. He served at the National Assembly, Office of the Senate President between 2001 and 2003 as Special Assistant to the Senate President on Public Affairs. His duties included advisory services to the Senate President on media and other issues. He assumed duty as Chief Accountant in the Ministry of Defence Headquarters, Abuja and served as Head of Accounts Administration. Following his promotion to Assistant Director Accounts, he was placed in charge of Funds in the Ministry between 2009 and 2012. He became a Deputy Director (Accounts) in 2012 and was deployed to the Office of the Secretary to the Government of the Federation (SGF) as Supervisory Officer of Ecological Funds Accounts and other related matters. Nwabuoku was promoted to Director (Accounts) in 2017 and was posted to the Office of the Head of the Civil Service of the Federation. He was the Director ( Finance and Accounts), Ministry of Defence, Headquarters, Abuja between May 2019 and March, 2021. Currently, he is Director, Inspectorate Office of the Accountant-General of the Federation, and he is presently overseeing the office of the Accountant General of the Federation (OAGF). Nwabuoku, who has attended several management courses both locally and internationally, is Fellow, Institute of Chartered Accountants of Nigeria (ICAN); Fellow, Chartered Institute of Taxation of Nigeria (CITN), and member of Nigeria Institute of Management (NIM).

receive any complaints relating to the timetable till about April. Speaking with THISDAY, INEC’s National Commissioner and Chairman, Information and Voter Education Committee, Festus Okoye, said the 18 registered political parties had been busy conducting their primary elections and never complained about the timetable. According to Okoye, "The 18 registered political parties are busy with their congresses and primaries and have written to the commission, stressing and affirming their readiness for their primaries. "Some of the political parties have secured, paid for and forwarded the venue of their presidential primaries to the commission. Some of the political parties have concluded and nominated their candidates for state and National Assembly

elections. "There is no cogent and verifiable reason for any extension and the chairman of the commission, Professor Mahmood Yakubu, has made it clear that the timeliness is fixed and firm. "Altering the timelines at this point in time may throw the entire timetable and schedule of activities out of gear. The ppolitical parties must brace up to the challenges of the time and make the necessary sacrifices consistent with this period." He said INEC had already deployed hundreds of its directing and senior management staff as well as other staff to different parts of the country to monitor the congresses and primaries of the political parties. Okoye stated, "It is too late in the day to demobilise them, as the commission has so many other activities needing their

attention. We have the Ekiti and Osun governorship elections in a few weeks. We have to complete the on-going CVR and print the voter’s cards of millions of Nigerians. "We have to get our burnt, damaged and challenged offices ready. We have procurements to carry out." He added that the "challenges are enormous. We expect all the ppolitical parties interested in fielding candidates to conclude their primaries on the 3rd day of June 2022." In like manner, Chief Press Secretary to the INEC chairman, Rotimi Oyekalmi, said, "The timetable and schedule of activities for the 2023 general election was released as far back as February this year – one full year ahead of the election. The conduct of primaries was fixed for 4th April - 3rd June 2022 (two

months). "The extant laws, indeed, give INEC the power, as a regulator of political parties, to determine when party primaries should take place, contrary to the gentleman’s view. "The INEC chairman had on at least three occasions urged the political parties to conduct their primaries within the stipulated timeline, as no extension will be entertained. "The extension being sought, if granted, would disrupt the planning template for the 2023 general election, with dire consequences. "Why is it that the parties cannot conduct their primaries within two months (April and May)? Interestingly, none of them complained about the timeline for party primaries when the timetable was released in February. Why now?"

FG to Complete Work on Two 330KV Transmission Substations in Katsina, Kano in 12 Months Emmanuel Addeh in Abuja The federal government has said that it will deliver two units of 330KV power transmission substations in Katsina and Kano states , to raise power supply in the north-west region in the next 12 months. The Managing Director of the Transmission Company of Nigeria (TCN), Dr Sule Abdulaziz, disclosed this while inspecting the 330/132/33kV Katsina substation project and the Rimi Zakara substation in Kano. Abdulaziz noted the transformers and structures were already in place at the Katsina substation, adding that on completion, it will improve the transmission of bulk power supply to Daura, Dutsinma, Kankara and Malumfashi. "We are willing, and we want to ensure that we finish this substation within one year. We will also invite Mr. President to commission the substation," Abdulaziz noted. He explained that transmission line that will bring bulk supply

to the substation from Kano was earlier affected by Right of Way (RoW) issues, disclosing that TCN and the government were collaborating on the matter. “Processes have been completed and the contractor will be back to site and will soon finish his work and we will be able to commission this substation," he pointed out, explaining that the substation facility has two units of 150MVA power transformers and two units of 60MVA power transformers. At the 132/33KV Kankia substation where the materials for the 330kV Kano to Katsina transmission line are stored, Abdulaziz also said the line was awarded since around 2010, but the RoW issue in Kano affected the project execution. "We have discussed with the Kano government, they have assisted us with paying for the land while TCN has concluded processes to for the structures. So the contractor is now free to come continue construction of towers and eventually the lines. “We want to make sure that within the one year remaining for

this administration, we will be able to complete that transmission line, so that Mr President will commission the project" Also speaking at the 330/132/33KV Rimin Zakara substation in Kano State, the MD noted that the transformers, the switch gears, among others were ready and that it was almost 80 per cent complete. "Everybody knows that after Lagos in Nigeria, the next city is Kano, but it has just one 330kV substation which is not enough, this new substation will bring to two the number of 330KV substations in Kano,” he added. The substation, he said is almost 80 per cent completed and the transmission line that will bring power to substation is being executed, adding that the substation also has two units of 150MVA transformers and two units of 60MVA transformers. Abdulaziz disclosed that the Kano State Government has paid for the land while TCN has concluded processes to pay for structures. “The government has also given land to relocate those

whose lands were directly affected by the substation project. By the time we complete this project, the line to Katsina will start from here and will feed the 330/132/33KV Katsina Substation," said the TCN boss. He also visited the 30MVA 132/33kV mobile transmission substation Bichi, which was executed in-house by TCN engineers. The substation has been completed and will improve bulk power requirement of the state water works, Bichi and environs. Representative of the contractor of the Katsina project, Mustapha Maihajjo, explained that since the coming of this administration, 95 per cent of all the equipment requirements for the project had been procured. Also, Special Assistant on Power and Energy to the Katsina State Governor, Mansur Musa, said that the people had waited for the project for a long time. “We believe that this project will be delivered timely as the contractor and the Managing Director of TCN promised," he said.

T H I S D AY • MONDAY, MAY 23, 2022

NEWS

"FULL COOPERATION" FOR LAWAN IN KANO... Governor of Kano State, Abdullahi Ganduje (L) and Senate President Ahmad Lawan, during a visit by the latter to Kano State to solicit the support of delegates of the All Progressives Congress ahead of the party’s primaries later this month...yesterday.

Audit Queries: House Probes NPA over Nonremittance of Multi-million Dollar Revenue

Udora Orizu in Abuja

The House of Representatives Committee on Public Accounts has commenced investigation into the multi- million-dollar debt owed the federal government by terminal operators and failure by the Nigeria Port Authority (NPA) to remit same to the national treasury. The probe was sequel to 12 audit queries from the office of the Auditor General for the Federation (AuGF) on the financial statement of the NPA for the 2019 financial year. The Committee Chairman, Hon. Wole Oke, asked the management of the NPA to explain why such huge amount of money owed the federal government was yet to be recovered and paid into the federal treasury. But the NPA only responded

to one of the queries on the indebtedness of terminal operators to the government to the tune of $852.094 million and N1.897 billion. The Port Authority said the sum of N269.410 million of the N1.8 billion had been recovered while the balance of N1.6 billion invoices processed on the encumbered areas remained unpaid. The NPA management also said the sum of $504,663,452.37 was volume change on fix lease lease fee payment by APMT arising from clauses in the concession agreement between NPA and APMT out of the total sum of $852,093,730.77. "Bills raised on encumbered areas which remained unpaid is $19,169,459.00. The following has been paid-GMT-$54,707,700.08; unpaid penalties - $11,922,642.68 and unpaid VAT- $28,693,707.07. $92,533,518.72 has been recovered

NBA, Others Condemn Invasion of Appeal Court by Political Thugs We've no record of attack, says Edo Govt

Adibe Emenyonu in Benin City

The Chairman, Benin Branch of the Nigerian Bar Association (NBA), Pius Oiwoh has condemned the alleged invasion of the Court of Appeal in Benin City, Edo State, describing it as an affront against the sanctity of the judiciary. There was a reported breakdown of law and order on Friday, at the Court of Appeal in Benin City as suspected thugs allegedly in connivance with persons in security outfits, invaded the courtroom, and carted away several court documents. But the Edo State Government said it had no record of appeal court attack in Benin City, neither does it have record of the alleged kidnap of an unnamed lawyer, noting that the allegations were fabrications by detractors to serve their selfish ends. THISDAY learnt that some lawyers had approached the appellate court to file an appeal arising from a judgment of the State High Court on issues relating to the crisis rocking the Peoples’ Democratic Party (PDP) in Edo State

as it has to do with which faction of the party have the authentic delegates list to participate in the party primary election. The Edo PDP is currently divided among those loyal to the governor of the state, Mr. Godwin Obaseki and the Vice Chairman, South-South of the party, Chief Dan Orbih. Reacting, Oiwoh said: “I heard the information. We condemn in its entirety the invasion. We see it as an affront against the sanctity of the judiciary and we are not pleased at all. We are disturbed by it. We call on the security agencies to unmask those behind it. The judiciary is sacred and should not be invaded the way it has been so done.” Also, a lawyer who preferred anonymous for security reasons said he was shuttling between a business centre in Akpakpava and the Appeal Court which is temporarily operating from a section of the Edo State High Court premises along Sapele Road as a result of the rehabilitation work going on its permanent premises in Aduwawa area of Benin City when the incident happened.

leaving unpaid lease and throughout fee in the sum of $139,970,637.71 (made up of $113,982,486.82 and $5,988,150.89) respectively," the agency said Not satisfied with the explanation on the issue, the lawmakers directed the NPA management to come and reconcile their position with that of that Auditor General for the Federation and provide evidence of remitting the recovered N269.51 million and $92.534 million to the treasury. The NPA was also asked to furnish the House with contract agreement/service level agreement,

the list of all terminal operators as well as a comprehensive schedule of lease fee that make up the total amount being owed the government by the operators. The Committee is to invite the defaulting terminal operators to come and justify their reason for not paying the fixed lease fee, while the NPA was asked to provide details of community related issues that hindered concessionaires from accessing the encumbered areas. One of the terminal operators, APMT, said to be owing the government a

whopping $504 million was also asked to appear before the committee, while the NPA is to disclose efforts being made to recover the money and list of consultants engaged to assist in the debt recovery. On the outstanding estate rent, shipping dues and service boat of N32,266,183,590.8 billion and $67,425,429.88 respectively, they asked the NPA to provide a comprehensive lists /details/ schedule of debtors who are owing legacy debts to the tune of 7,293,403,552.55, stating the outstanding debt against each

of the defaulters. The committee also directed the NPA to avail it with a comprehensive lists /details/ schedule of debtors who are owing 17,687,440,469.16 being shipping and service boat due. The recovered amount and the outstanding debt must be stated against the name of each debtor, they added. The committee further demanded the current status of the underlisted legacy debts, evidence of remittances of part of the debts to government coffer if any is required.

Sylva: TotalEnergies Has Produced over 3.6 Billion Barrels of Oil in 60 Years Puts French multinational's daily production at over 300,000bpd Urges IOC to bring pending oil assets to production Peter Uzoho The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said French multinational oil company, TotalEnergies EP Nigeria Limited has produced over 3.6 billion barrels of oil equivalent and invested billions of dollars since it began production in the country in the last 60 years. The minister, who put the oil major's daily oil and condensate production in the country at over 300,0000 barrels per day, however, urged the company to double its efforts towards bringing its pending oil assets to production. Sylva stated these in his goodwill message at the TotalEnergies EP Nigeria's 60th anniversary dinner in Lagos, saying the company has maintained a sustainable partnership with Nigeria in the oil and gas upstream sector. Represented at the occasion by the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, Sylva stated: "Available records within the Commission reveals that TotalEnergies has produced a cumulative volume of over 3.6 billion barrels of oil equivalent in Nigeria, with investments running into billions of dollars."

Recognising further, the impact the company had made on the Nigerian economy, the minister added that "With production levels of over 300,000 barrels per day of crude oil and condensate, the company contributes almost a quarter of the country’s current liquid production. However, we believe more can be done to improve your current production." He said the success story of the Nigerian oil and gas upstream sector would not be complete without mentioning the contributions of TotalEnergies from 1962 when it started as Safrap before officially changing names to Elf, Total Fina Elf, Total E&P and now TotalEnergies. According to the minister, the active regulatory compliance by the French oil giant from the days of the defunct Petroleum Inspectorate and the Department of Petroleum Resources (DPR) to the present NUPRC cannot be overemphasised. He noted that that effective partnership and regulatory compliance led to the discovery and development of several fields with huge potentials such as Amenam/ Kpono, Akpo, Usan, and Egina among others. These discoveries, Sylva maintained, had contributed to the growth of the national oil and gas

reserves and production as well as improved revenues for both government and TotalEnergies. He said the company has provided several job opportunities for the Nigerian populace both directly as staff of the company and indirectly as third-party vendors and contractors providing various services with an attendant transfer of skills and knowledge. He noted that that the investments by the oil major contributed significantly to the nation's economic growth and transfer of relevant skills to indigenous Nigerians. "Let me at this time say that TotalEnergies is one of the companies that have weathered the storm in doing business in the Niger Delta. "The sustenance of their operations within the Niger Delta may not be unconnected to the effective implementation of active Memorandum of Understanding (MoU) and carrying out of various Corporate Social Responsibilities (CSR), which has helped in building a friendly relationship and wellbeing with their host communities and the immediate environment," Sylva stated. The minister urged the international oil company (IOC) not to relent on its efforts at utilising

developmental openings in the oil and gas sector in Nigeria. Sylva specifically urged TotalEnergies to double its efforts towards bringing its pending field developments such as the Preowei, Ikike, Egina South among others into production, He reminded the company that the Petroleum Industry Act (PIA) 2021 provided ample opportunities for profitable investment, while the government was also making frantic efforts at improving the security situation within the oil and gas operational areas. The minister expressed belief that the attractive fiscal, regulatory and governance provisions in the PIA, especially as it involves the host Communities and Remediation Funds, would further put to rest all agitations within the host communities and hence foster a more conducive business environment for TotalEnergies and other willing investors in the oil and gas industry in Nigeria. He commended the French multinational for being the first company that has signified interest to take advantage of the new fiscal regime in the PIA to convert from the Oil Mining Lease (OML) to the Petroleum Mining Lease (PML) within the period specified for voluntary conversion in the Act.

MONDAY MAY 23, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY MAY 23, 2022

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

Ministers Who Braved the Odds to Run for Presidency Ahead of the 2023 elections, some serving ministers indicated interest to replace President Muhammadu Buhari in 2023. While some have braved the odds in their quest to realize their ambition, others chickened out before the contest even began, writes Adedayo Akinwale:

Amaechi

Onu

Tallen

Malami

Sylva

Akpabio

Nwajiuba

contributions as cabinet members. I wish you success in the upcoming elections and in your future endeavours.” Despite Buhari expressing confidence that the ministers are well equipped for leadership positions, most of them developed cold feet and dropped out of the race. The ministers that dropped out of the race are: Malami, Slyva, Tallen and Ngige. Consequently, Ngige was at the valedictory session issued a formal statement after the event to say that he had not resigned because he had pulled out of the Presidential race and notified the President. Likewise Malami confirmed that he has gone back on his ambition to contest the 2023 Kebbi state governorship election, while Sylva said he withdrew from the race to support Buhari in his quest to achieve a robust

oil sector. Tallen also chickened out. Nevertheless, analysts are of the view that the ministers did not expect Buhari to pull the rug off their feet, because they wanted to hold on to their positions while they contest the primaries and return to their offices should they lose. But the President’s directive that ministers with ambition should resign forced most of them out of the race. There’s been some kind of hoopla over the ministers who beat a quick retreat from bowing out. There remains a question over whether the President did the right thing by allowing them withdraw their letter of resignation instead of having to submit their names federal legislators for screening all over again.

o fewer than 10 serving ministers initially indicated interest to vie for various political offices ahead of 2023 elections. As a result, the ministers resigned their appointments to pursue their political aspirations. Of the 10 serving ministers, five indicated interest to step in the shoes of President Muhammadu Buhari come. This is the first time this relatively high number of serving members of the Federal Executive Council have indicated interest to take over from their principal. Since the current dispensation of politics began in 1999, only former President Olusegun Obasanjo served out the statutory two tenures of four years each. Buhari is on the verge of equalling Obasanjo’s mark, albeit with a new trend of an impressive number of ministers eyeing his job. The fact that many of the President’s men and lady desired to step into his shoes may be a pointer to his democratic and accommodating disposition which allows those close to him to express themselves. Only a liberal boss would inspire a good number of his subordinates to follow in his footsteps. Buhari believes he has sufficiently impacted on and fired the ambition of his lieutenants. They are: Minister of State for Education, Hon. Emeka Nwajuiba, Minister of Niger Delta Affairs, Godswill Akpabio, Minister of Transportation, Rotimi Amaechi, Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu; Minister of Labour and Employment, Dr. Chris Ngige and Minister of State for Petroleum Resources, Timipre Sylva. Ministers who had their eyes set on other positions are: The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) who was initially contesting for Kebbi state governorship; Minister of Women Affairs, Pauline Tallen contesting Plateau South Senatorial election; Minister of State, Mines and Steel Development, Uche Ogar, contesting Abia governorship seat and Minister for State, Niger Delta Affairs, Tayo Alasoadura, vying for Ondo Central Senatorial seat. At the valedictory session held for former ministers, Buhari said they have been fully equipped to replace him as president and for other political offices.

The President said: “I am happy to note that a significant number of cabinet members have become sufficiently equipped to aspire to higher elective offices, including the Office of the President. This shows the impact of the experience gathered while serving as members of the Federal Executive Council. ”I have no doubt that if the next President emerges from among former members of this cabinet, like any other aspirant, ample competence and outstanding service delivery would be on display. This will be part of our legacies to Nigerians. ”I also wish to thank you for your invaluable services to this nation through your

This is the ﬁrst time this relatively high number of serving members of the Federal Executive Council have indicated interest to take over from their principal. Since the current dispensation of politics began in 1999, only former President Olusegun Obasanjo served out the statutory two tenures of four years each. Buhari is on the verge of equalling Obasanjo’s mark, albeit with a new trend of an impressive number of ministers eyeing his job

Ogbonnaya Onu The immediate past Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu is one of the presidential aspirants from the South-east. While other aspirants are busy consulting and seeking support, Onu has withdrawn back into his shell after making a public bid for the presidency. During his presidential declaration, he practically begged his party to elect him as its candidate to be the chief servant of the nation. “I most respectfully ask my political party, the All Progressives Congress Continued on page 17

T H I S D AY ˾ MONDAY MAY 23, 2022

MONDAY DISCOURSE

Resetting Nigeria: Osinbajo’s Innovative Leadership Style Wale Adeduro takes a critical look at some of the sterling qualities that stand Vice President Yemi Osinbajo out of all presidential hopefuls in the All Progressives Congress

ess than two weeks to the All Progressives Congress (APC) delegates convention, Vice President Yemi Osinbajo has been decorated with honours that reckonises his leadership skills. This is very significant. The first point in this honour is that it has unmistakably confirmed and recognized the VP’s leadership skills, a fact many Nigerians have already taken for granted. What other validation do we need that Osinbajo is a primus inter pares among Nigerian leaders, including those who are in the presidential race. Moreover, the owners of Leadership Newspapers which honoured Osinbajo with the 2021 Leadership Award are northerners who cannot be said to be playing tribal politics with the VP who is from the South-west of Nigeria. The late founder of Leadership Newspapers, Sam Nda-Isaiah, was born in Minna, Niger State which is North Central of Nigeria. Osinbajo’s astute leadership has been acknowledged beyond tribal and regional delineation across the world. Doron Avni, Google’s Government Affairs and Public Policy Director, leading a delegation from Google Global Services in the United States to the State House in Abuja on Thursday, February 13, 2020 affirmed that Osinbajo is “an excellent partner” of Google who had enabled the technology giant to train over three million Nigerians in information technology management. Certainly, more would benefit from such trainings when Osinbajo becomes President. Without any equivocation, the highly coveted 2022 Leadership Award bestowed on the VP clearly indicates that all the other contenders to the presidency (as well as ‘’pretenders, impostors and showmen’’ according to Josiah Dogo) have a lot to learn from the VP. This writer is focusing on the core of the theme of the event organised by the Leadership Group, “Resetting Nigeria: Culture, Politics, Geography and the Role of Big Ideas.’’ To reset means to set something differently from how it has always been. The multifarious challenges of Nigeria cannot be solved without deliberately tweaking our value delivery systems to all the citizens of Nigeria. Our nation requires innovative leadership to reclaim her enviable position in the comity of nations. Innovative leadership entails creative thinking in this moment of VUCA (volatility, uncertainty, complexity and ambiguity). The global challenges have foisted gargantuan risks upon developing nations such as Nigeria. Managing these risks to achieve sustainable growth requires a savvy, competent

Osinbajo

and firm pair of hands on the saddle after President Muhammadu Buhari’s tenure expires on May 29, 2023. There cannot be any better qualified individual, at this time, than Osinbajo who has shown, beyond every reasonable doubt, that he is both knowledgeable and capable of pushing the envelope to advance the corporate fortunes of Nigeria as well as the satisfaction of a larger majority of Nigerians. More than ever before, Nigeria needs several foreign direct investments to reduce her debt burden. Only a leader with untainted international clout and a clear understanding of international finance can reset our economy. Nigeria’s next President must be a man who fluently speaks the language of information technology and easily comprehends global issues like Osinbajo has demonstrated over the years

whenever he was privileged to represent President Muhammadu Buhari in global fora. Osinbajo is skillful at deploying latest technological inventions for governance for harnessing Nigeria’s plethora of natural resources for the good of all Nigerians. He has the clout to attract the flow of foreign direct investments (FDIs) into Nigeria. In February 2020, Google, through its Government Affairs and Public Policy Director, Doron Avni, declared that “Osinbajo is the reason why we are investing in Nigeria.” We do not need any further evidence to prove that Osinbajo, the skillful orator, is also a tested international negotiator who can attract humongous financial and technological resources to Nigeria. As an innovative leader Osinbajo has inspired productivity in new ways and through different approaches among Nigerian

youths in the last seven years. Osinbajo is not risk-averse and is not enamoured about the idea of maintaining the status quo. For him, embracing new ideas for the benefit of the larger majority is what inspires him to do his best. This is why he has earned the honour of being the most impactful and distinguished Vice President in the history of Nigeria.When sworn in as President, Professor Yemi Osinbajo will certainly acquit himself like Lee Kuan Yew of Singapore. Through the adoption of an innovative leadership strategy, Lee Kuan Yew, the pioneer prime minister of Singapore, was able to transform the third world nation into a developed country with a highincome economy within a single generation. In his pursuit of the strategy of innovative leadership, Lee adopted long term social and economic planning. Osinbajo has already set his mind on adopting and executing a long term social and economic plan for Nigeria. This was evident in his acceptance speech at the Leadership Award. He said: “We must create a country that works for all of us – a peaceful and secure society founded on law and order and the rule of law, a society that enables commerce and values productivity, so that large and small businesses can grow and provide jobs and opportunities for young people.” Osinbajo is not only innovative, he is a man of ideas who adroitly communicates his progressive beliefs to persuade people to join him to build a smart and more equitable nation. When necessary, he does not hesitate to roll his sleeves and dirty his fingers to do what is right for the purpose of meeting the ubiquitous needs of a larger percentage of Nigerians home and abroad. To achieve a positive and impactful total reset, Nigeria truly deserves the services of an innovative leader who is also an accomplished solution provider as President. Chidi Amuta, a frontline columnist and a literary critic, in his column in THISDAY on Sunday of the 15th of May, 2022, commenting about the credentials of Osinbajo as a Presidential candidate affirmed that, “Yemi Osinbajo, exemplary Vice President, is an unusual combination of morality, ideas and practical solutions.” Nigerians are depending on the APC delegates to cast a vote for Nigeria’s future of innovative growth by electing Professor Yemi Osinbajo as the presidential flag bearer of APC for the 2023 general elections. He is the only innovative leader in the crowd of contenders, pretenders, impostors and showmen in the race for Nigeria’ presidency in 2023.

Ministers Who Braved the Odds to Run for Presidency (APC), to elect me as its Presidential Candidate, and the people of Nigeria to elect me as the President of the Federal Republic of Nigeria, for me to be the chief servant of the nation. “I am convinced that I have the knowledge, the experience, the credibility, the education having been trained in one of the best universities in the world, the vision, the integrity, maturity and a man who can be trusted,” he said. Onu is not really viewed as a serious contender for the Number One job in the country. Chukwuemeka Nwajuiba The immediate past Minister of State for Education, Hon. Emeka Nwajiuba was the first serving minister to resign his appointment. Even though he refused to channel his resignation to the

appropriate authority- the Secretary to the Government of the Federation. He was the first to obtain the N100 million form. He also appears to be one candidate setting the pace for the others in many respects, an indication he is not in the race to while away time. Of all the presidential aspirants from the South-east, he has an edge. Whereas he has not really been traversing the length and breadth of the country, consulting like other aspirants, it would be a grave mistake to write him off considering the way Abdulahi Adamu emerged as the National Chairman of APC.

Godswill Akpabio The immediate past Minister of Nigeria Delta Affairs, Godswill Akpabio performed very well as a Governor of Akwa Ibom state. But as far as this contest is concerned, he’s not a force to reckon with. After declaring his intention to run for president in his homestead of Ikot Ekpene, he is yet to catch the sort of attention expected to underscore his seriousness. It.was speculated that Akpabio was one of the aspirants recruited by a particular aspirant to play a spoiler ’s game. He is expected to step down for the aspirant when the time comes. Although he has been holding some skeletal consultations in view of his aspiration, Akpabio has not come out as strong as some of the frontliners. Yet, he is not one to be pushed behind in the scheme of things.

He is grounded and understands the terrain as well as its tricks. Rotimi Amaechi The immediate past Minister of Transportation and a presidential hopeful is not a pushover. If there is any aspirant that can give Bola Tinubu, a fellow presidential hopeful a run for his money, it’s Amaechi. He’s a dogged fighter. He knows the game, especially palace politics, and since he declared for the office of the president, he has shown the stuff he is made of. Amaechi is one man to watch out for and whose capacity for showing up insidiously is top notch. He boasts competence too. He has the experience having been in government since 1999. Among all of Buhari’s ministers gunning for the position, he stands a better chance.

M O

MONDAY MA Y 23, 2022 • T H I S D AY

MONDAY, MAY 23, 2022 • T H I S D AY

PHOTOS : SUNDAY ADIGUN

PRESIDENTIAL INTERVIEW SERIES VI

Chukwuemeka Nwajiuba: It’s Diﬃcult to Zone After People Had Purchased Forms

ince stealthily stomping the presidential race as if he was the one they’ve been waiting for, the former Minister of State for Education, Chukwuemeka Nwajiuba, has been described in diﬀerent terms,, such that seek to shift attention to him as a subject j of serious interest. A dark house some would like to say, many others see him as one of the favourites of President Muhammadu Buhari. His dispositions however speak even more clearly to his personality. But whichever description suits whomever, Nwajiuba is arguably one of the presidential forces to reckon with, as the party braces up for its much-awaited primaries this weekend. Thus, speaking with THISDAY, he shares some of his plans on how to Continued on page 20 ﬁx the country if elected president. Excerpts:

MONDAY, MAY 23, 2022 • T H I S D AY

PRESIDENTIAL INTERVIEW SERIES VI

Reinventing the Wheel Will Set Us Back That is terrific. ASUU’s problems are not difficult ones to resolve. It is a problem within a context. If you want to solve the ASUU problems, you must step away from the context. You cannot be doing the same thing and expect different results. However, in the last three years that I came into the Ministry, I made stakeholders look at the paradigm. ASUU has been going on strike since 1984. So, unless you change that format, it would also happen because the issues that ASUU is canvassing are completely legitimate. They are completely needed things. But in the context in which they are asking for them, they cannot be resolved. ASUU wanted the best for the universities established by the federal government, where they are employed. ASUU is demanding proper funding, improvement of infrastructure, upgraded facilities, do NEEDS assessments. They are demanding earn allowances and so on. All the demands are good. However, the resources are not there. There are no endowments in our universities unlike the situation in foreign countries. The funding mechanisms for Nigerian universities need to be altered and shifted from what we have now. The budgeting system for running universities cannot work. A system whereby applications are sent to the office of the Head of the Civil Service of the Federation, when new lecturers are to be employed, while the ministries of labour and finance are carried along, cannot continue to work. What I proposed is that universities be granted full autonomy so that they could actually be autonomous. If we pay the money ASUU is demanding today, who will give them tomorrow? People say I agree with ASUU too much; it is because my own children are all in public universities in Nigeria. I am a product of public universities here. My wife is also a product of public universities here. Two of my children have graduated and are working. One, a civil engineer, the other, a lawyer. They both graduated from public universities in Nigeria. I still have two presently studying in public universities here. They are also at home now, eating plenty of my food. The last-born is about to gain admission into a public university. So, I know the ASUU crisis needs to be solved. I’m only saying that ASUU should not be on strike, because the whole essence of our investment in education is not for decoration but for the production of manpower for the country. As long as ASUU is on strike on account that we’ve not built new structures, accepted UTAS, and paid earn allowances, by the time we pay that money, the children would have already suffered a huge loss. We don’t need a strike. ASUU does not need to be on strike to resolve its demands or requests.

What informed your decision to contest the presidency? There are many people who are interested in helping Nigeria to grow. Anybody that has been in politics like me, since 1992, and can see the trajectory the country is going, would ordinarily offer himself to be part of the workforce that will help Nigeria grow. It is therefore required of us to put ourselves in the service of the country and that is why I am in the race. You were the ﬁrst person to pick the APC forms, but you are yet to tell Nigerians your plans for the country. Are you waiting to become the candidate or emerge the president before unfolding your agenda? There are no plans for Nigerians other than to run the country in the way that it was agreed upon. Everybody mutually recognises that Nigeria already has a manifesto, which is the Chapter 2 of the Objective Principles of the State Objectives. It states principally that the welfare and security of all Nigerians is paramount. You have said nothing if you now wrote a manifesto to say you want to provide welfare for Nigerians. There is a structure already. I, however, sometimes excuse some people who are not lawyers for not realising that what they were promising actually existed in the country’s constitution. It will also become a problem when you promise to do things that are not constitutional and you were required to swear an oath on the day of inauguration. How therefore, do you hope to implement those plans, if you emerge the President next year? There are things an aspirant must ask himself, looking at the objective principles of the state. He must ask himself how he hopes to implement his plans. For someone like me, who probably, is the only Nigerian who has the proper knowledge of the workings of the three arms of government, because my first, second and third degrees are in Law, I have been called to be a Minister in the temple of justice, as a lawyer. So, I am a judicial worker. I have also gone into the legislature since 1999 before I moved from there to the executive. The three arms of government are my domain. It would be very hard to find somebody who has that compass. That in itself, equipped me to appreciate what it is that we need to do. Economically, Nigeria needs to move an inch further, from where it is at the moment, because the social infrastructure that governs how people operate in the economic space, is a ticking time bomb, because we don’t have adequate manpower. There is a disconnect between the fact that we have almost 116 abandoned industries in northern Nigeria and a complete workforce that cannot be integrated. Right from 1992 when I started to oppose privatisation, I did point out that the objective of government cannot necessarily be to raise money. The first objective is to have social and economic welfare. The only way that could be done is not by stripping off the country of its assets. We may not necessarily have a government run a business. I brought up a model in 1992, which was rejected then, but which is still very relevant now. I recommended a government enterprise, which must be run by those who must keep it in production. The only condition to own the Aladja Steel Plant, the Iwopin Paper Plant, Jebba Mill, Katsina Steel Rolling, Jos Steel Rolling Mill, Ikot-Ekpene Aluminum Roofing Mill, and other government-owned enterprises – scattered all over the country, which are just too many, is to ensure that they are operational, optimally. Those who have the capabilities of running those institutions should be allowed to take them over on one condition that Nigerians must be employed there, and they must be at a level of production. They must not have power to sell off any of the assets. That should be for the benefits of Nigerians, because if our people are working, there would be a tax net that would generate revenue to run a country. Right now, it is a complete disconnect, whereby everybody is looking for foreign exchange to bring in goods to feed the people, who are not generating revenue. It is that type of economic conceptualisation that I am bringing to the table. Nigerians and the international community are worried about the growing, frightening insecurity in the country. How do you intend to address this menace? There are three foundations of insecurity. The first is feelings. That is, how people feel about their country. When people feel wrong and disconnected from the system, the security or the intelligence institutions can’t be possibly aided but would rather aid the terrorists above their own institution, because they don’t feel that they are part of the institution. The second is around the North-East and North-West zones. There were children, who were 10 years old, when democracy started in 1999, who didn’t have any school attendance but are now grown-up adults. This happened because Nigeria was running a conservative government up to the first part of 2015. The progressives only took over power in 2015.

The whole idea of social inclusion is the creation of this government. It has not taken root at all. Without social inclusion, and you have a 10-year-old child, who was abandoned and left without education, he would be 25 after 15 years. How do we expect such a person to participate in the economy? At one point, Zamfara State was declared a Sharia state in the days of Ahmed Rufai Yerima. I’m happy he also purchased a nomination form, people need to know that there are consequences for their actions taken 20 years ago. Some gangs of bandits living in the bush were suddenly manufactured. They have nothing to contribute to the economy. They cannot be kept as urchins forever, because they have grown and they would need food. They would need to work and participate in growing the economy. President Muhammadu Buhari promised to lift 100 million people out of poverty in 10 years. He planned to do so by making people to be numerated, literate and skilled to participate in the economy. This is why we have the alternate schools’ programme to have an inclusive system of education. The arrangement would reduce drastically the number of those that fuel that combat, which is the basis for insecurity. If such huge numbers don’t exist anymore, you will have people within the economy, who are happy with the system. Those people became disenchanted. I’m bringing to the table as President, 90 per cent satisfaction of its demographic. My candidacy will appeal to young people, since I’m 55 years old. The second aspect is that people believe that power should rotate to the South now. No other place apart from the South-East, that has not produced a President since 1999.

My emergence will also assuage the feelings of those agitating. Above all, Nigerians are looking for someone, who is extremely dexterous for the kind of problems that we have now. People have over the years checked all the elements required of a good leader. One who is learned and who has had education, proper experience and a product of the society he wants to lead. I am a product of public universities having had my first degree at the Imo State University, second one at the University of Lagos and the third at the University of Jos. I have done everything here. I don’t live abroad. We also need someone, who has the gamut of experience across all the divides. I have been part of the judiciary, legislature and the executive. You have everything you would possibly need in a Nigerian leader in me. People want to know whether you have capabilities and competence. That is what my being in the Ministry of Education in the last three years has shown. I came in as Chairman of TetFund, which is the largest money organisation in Nigeria and I ran it properly. For the first time, all the universities were getting their allocations on time at the highest value since it started. I came into the Ministry of Education and took up all the programmes that we agreed on. For instance, the reduction of the out-of-school children and expanded access to tertiary education. We have in the last seven years established more polytechnics, colleges of education, and universities. But how do you intend to handle Nigeria’s socio-economic and political challenges as president, when you were unable to resolve the ASUU crisis, as a minister of state for Education? How will you explain that in your campaign?

“Nobody zoned the positions before people started purchasing the forms. So, you cannot zone after they had purchased the forms. It is from the people who are now available that you will look at what each aspirant is bringing to the table and how best they would solve Nigeria’s problems”

APC has failed to micro-zone the presidency to the South-East, an action that might have affected the possibility of an Igbo president in 2023. How do you feel? Truth be told, I am positive that most Nigerians want a good country. Everybody believes in a moral society. People actually want some law and order. Some level of rule-based society. What I’m bringing to the table is national cohesion for development. Without a cohesive society, we can’t make progress. Nigerians at the moment are dissipating energies over everything. However, since the constitution of our country agrees to the principles of federal character, where governance must be run with some level of inclusion, and must be on display at all times, people need to trust Nigerians to take the decision. Anybody in Nigeria would like to see a competent man or woman, who has the character, capacity, capabilities to lead the country. Arriving at a consensus for me, will not be difficult at all. We don’t need a micro zone. There were only 24 people who purchased the forms, when we expected about 100 people in the race. Curiously, some of your former cabinet members are already pulling out of the contest. Yes, maybe because they did not study the time frame very well. I don’t know whether they had certain other interpretations around it. Some may not have had enough funds to pay for the forms. About 3,816 people contributed the money, which I used to buy my own form and I’ve published their names. People contributed between N5, 000 and N500,000 each within two weeks across the country. So, if we are going to build a consensus around the 24 aspirants, we will then talk about the location. Nobody zoned the positions before people started purchasing the forms. So, you cannot zone after they had purchased the forms. It is from the people who are now available that you will look at what each aspirant is bringing to the table and how best would they solve Nigeria’s problems. There are those who meant well but are being challenged by the age factor like the former Senate President, Ken Nnamani. He is a lovely person who has the interest of Nigerians at heart but he may not be as strong as he used to be when he was in government. So, you must excuse him. The same thing applies to Ogbonnaya Onu, who also has the challenge of age. They are good men. We also have younger elements like the Governor of Kogi State, who is very agile and in his 40s, but Continued on page 21

MONDAY, MAY 23, 2022 • T H I S D AY

PRESIDENTIAL INTERVIEW SERIES VI

North ’ll Cede Power to S’East if Tinubu, Others Dump Presidential Bids he has not garnered a nationalistic experience yet. He must be given room to grow. There are many constraints for different aspirants. We need somebody who has the empathy, the energy, the enthusiasm and exact understanding of the experiences and knowledge that are required. You may be a smart person in your 60s, but the knowledge of the economy has moved beyond your era. You might have governed Lagos State before; but those people you trained are also doing fantastic. That then, did not make the knowledge resident in only you. You could have great leaders like Asiwaju Tinubu or men like Ibikunle Amosun, even Vice-President Yemi Osinbajo, who by their nature are very nice persons, but might not be suitable for the work plan now. Why are you not consulting your party’s delegates, like many of your colleagues are currently doing? Is it because you’re Buhari’s political son and waiting for him to pronounce you as a consensus candidate? Any one saying that I am not meeting with the delegates is a liar, because I’ve met with the most delegates. I’m the organiser of the forum of former members of the House of Representatives, which constitutes 32 per cent of the entire delegate structure. Over the years, even before I became minister, I’ve been hosting them regularly. Many of them even contributed their own money for my ticket. The structure of my campaigns is headed by former and serving senators. Everybody is working from the experience he or she had. In every state, I have the Local Working Committees that have been working. They are made up of local government chairmen, secretaries of the party, and some statutory delegates. It is their job to fish out the delegates and speak with them. My job is to organise the country. We have five delegates from each ward including the chairman and the secretary. One of the remaining three delegates must be a woman. We were already a factor in every polling unit before the election started. That is how we think in modern times. If you like, buy two aircraft and criss-crossing the country, once you leave your destination, other people will go and dine there. That is not how politics is done. We don’t need to do dollar bazaar on the day of the presidential convention. We don’t want the bandits to come and attack us like they did the last time, when they attacked the train going to Kaduna, because the bandits thought they were delegates, who had come to Abuja to collect dollars. If we insist on bringing everybody here and cause a naira rain in Abuja, how will the poor people survive? Do you honestly believe that your party is interested in ceding power to the South East? There are indications that your party wants to retain power in the North. There are three people from the North, who purchased the APC presidential forms. The President of the Senate, Ahmad Lawan; the Governor of Kogi State, Yahaya Bello; and the Governor of Jigawa State, Abubakar Mohammed Badaru. They all have the right credentials to be Nigeria’s president. They are men of foresight. They are from the North -East, North-Central and North-West. They are possibly in the contest to make a statement but if we are talking about national justice and fairness, we should only be thinking of the South-East. This is because it is the only zone in the South that had not produced a President since 1999. However, for them to be seeing about eight people from the South-West suddenly laying claims to the same argument they had against the North, makes it look very silly. This is because you cannot be accusing the North of something you are also perpetrating. Olusegun Obasanjo had been president for eight years; Osinbajo has been vice president since 2015. Why should the South-West say the North should cede power to the South and that they must be the beneficiary? How does that make any sense of any type? Yet, they are asking the young patriots in the North to cede power to them. I am sure if the South-West pulls out of the presidential race, aspirants from the North would also rest their ambitions and allow the South-East to produce Buhari’s successor in 2023. Some politicians are saying if power won’t go to the South-East, it should remain in the North. Do you agree with them? I’ve heard the argument also, but it is defeatist. Senator Orji Uzor Kalu has said so to justify his support for Lawan. What those who are saying this meant was that the presidency should go to the South-East. They are just using different languages to say that Igbo should produce the next president. Aren’t you worried about the insecurity in the South-East, because with the situation in the zone now, free and fair elections are unlikely? We will not have the same situation we have

“It is a holistic system. It is dangerous to abandon the work we have already done because we need to build on it. If we bring in someone who is not part of the foundation that built it, the person won’t know what we’ve done and will fail” now in 2023, because so many things would have happened. Human beings are a product of their social engagements. The day you engage any aggrieved person, he gets included. Power is for everyone. The day a south-eastern person is the candidate of our party, everybody in the region will participate massively. There were elections in the Boko Haram territories during the 2015 general election. Why are you conﬁdent that your party will win the next election? Don’t you know that Nigerians are not happy with your government? Nigerians are not happy with what they don’t understand. That is the whole nature of man because our psychology works with knowing something, understanding it and appreciating it. Too many people are still out of the food belt. Too many people are not achieving what they want to achieve. Too many people are not engaging government sufficiently because the state governments where all of these reside, have a limited purview of what it is that they are accountable to their people for. Everybody looks up to the federal government. The first thing is to return to productivity so that naira will appreciate against the dollar. If our people are angry, the right thing to do would not be to abandon the progressive work that we have already done, but to bring them hope through people they can identify with. Nigerians are not happy with moneybags whom they believed caused part of their problems. President Buhari at inception, promised to ﬁght corruption but indices from respected local and international organisations indicated that Buhari’s administration stinks; that corruption is more predominant in Nigeria today than ever seen. What happened? Corruption in Nigeria has been a long hub. We started the fight against corruption, when we came into power but it cannot end in one

day. We first of all implemented systematic programmes that can curb corruption like the Treasury Single Account. We also enforced the BVN. The policies had always been in place but were not implemented. The entire system of recovering or stealing money, depends on how the system works. The systematic leakages are what fuels corruption. We are running a cash-based economy, which apart from fuelling corruption, is also fuelling insecurity. None of the transactions for bullets and guns are done through the banks but in cash. It is also fuelling the drug trade. The more the drugs are in the system, the more the bandits would buy. It is a holistic system. It is now dangerous to abandon the work we had already done because we need to build on it. If we bring in someone who was not part of the foundation that built it, the person won’t know what we’ve done and will fail. That was what happened in the case of the late President Umaru Musa-Yar’Adua, who started reviewing everything his predecessor, former President Olusegun Obasanjo, had done. The development caused Nigeria to lose over $16 billion that was invested in power and cancelled all privatised refineries. Looking at the scorecard, do you agree that your government has failed woefully? Well, anybody who tells you that nothing has changed has not read the script very well. In the last five years alone, the total number of Nigerians that has access to the grid has increased by 22.5 per cent. We’ve introduced cash transfer, and broadened access to healthcare facilities. The indices are there. The country did not make more money, in fact, the money reduced. However, the management of our economy increased tremendously, because we don’t owe civil servants their salaries any more. We don’t borrow money to pay them unlike what we experienced during the last administration. The country had never achieved 45 per cent

budget performance until we took over in 2015. Budget performance has exceeded 82 per cent performance on the average in the last five years. It is a fact that the economy has expanded and many people are playing active roles than it was in 2015. Therefore, what is available is less. The economy expanded with the same resources and same infrastructural contents. But, it’s on record that the current government has borrowed more money running into trillions of naira, yet, not enough is on the ground to justify the huge loans. Eighty per cent of the money borrowed by the government is for railway services and we’ve built the largest railway network in the history of Nigeria in the last five years. Itakpe, Ibadan, Kaduna rail lines are working. We came on mass revolution. But your government was not the originator of these projects. Some of these projects were being executed before the Buhari-led government came on board. Yes, but we have to borrow the money to do them. Do you want me to become president tomorrow and choose not to live inside the Presidential Villa, because I wasn’t the one that originated its concept? The country belongs to the people more than the people who are in power. We are doing everything for Nigerians. We designed the Second Niger Bridge since my days in the House of Representatives. It was to cost N120bn. We never knew somebody could come and negotiate it downward, we negotiated the price and have completed it now. Babatunde Fashola has done 25, 000 kilometers of road in the last seven years. We don’t have the resources to do all these, that is why we are bringing in money to execute them. The idea of TSA and BVN were not conceived by Buhari, it was conceived by the Yar’Adua administration and inherited by Goodluck Jonathan. Yet, Buhari insisted that we would implement them. It is not about conception but delivery. Look at the Goodluck Jonathan Expressway in Abuja that was named after a former president, which Buhari has completed now. Other presidents would have abandoned it because it was named after a leader they defeated. But monies were being put into the projects before your administration came on board. There was zero amount in the FCT budget for that project. I have copies of the FCT budgets over the past 20 years.

T H I S D AY ˾ MONDAY MAY 23, 2022

FEATURES

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

Crushing the Burgeoning Menace of Crude Oil Theft, Bunkering and PipelineVandalism in Nigeria (11) To curb the large scale activities of illegal pipeline vandals and crude oil thieves, who economically sabotage the nation of its resources, Operation DAKATAR DA BARAWO, an Hausa word for "stop the thief" kicked off on April 1, 2022. Four weeks in, the Nigerian Navy denied these oil thieves and economic saboteurs an estimated N10 billion and with the extension given the successes recorded, seizures of over 6 million litres of products and stolen crude oil, amounting to N3.2 billion were made in weeks five and six. Chiemelie Ezeobi reports that these gains are indicative of the navy's resolve to ensure zero tolerance for COT, illegal bunkering and other related economic crimes in the nation's maritime area in particular and the Gulf of Guinea waters in general

Two of the illegal reﬁnery sites

hat Nigeria is blessed with an abundance of natural resources is not in doubt. In fact, Nigeria has about 36 trillion barrels and 182 trillion cubic feet of oil and gas reserves with the capacity to produce about 2.4 million barrels and 8 billion cubic feet of oil and gas respectively per day. It is also not in doubt that oil companies operate in excess of 5,779 wells, 9,717km of pipelines, 112 flow stations, 16 gas plants and 126 production platforms offshore. These ordinarily should be a blessing to any nation. But for Nigeria, the hydraheaded menace of pipeline vandalism, crude oil theft and bunkering have turned the blessing to a curse as these economic saboteurs continuously milk the nation's resources to the tune of billions in loss on monthly basis. In the first part of this series published on Monday, May 16, 2022, THISDAY had quoted the Nigeria National Petroleum Corporation (NNPC) Ltd Group Managing Director, Melee Kyari, who revealed that $1.5 billion was lost to oil thieves between January and March 2022. From illegal oil wells to dug out pits and reservoirs, as well as Illegal Refinery Sites (IRS), these crude and criminal way of siphoning the nation's oil products have become a nightmare as they damage not just the economy but also the environment. Operation DAKATAR DA BARAWO Buoyed by the quest to crush out the burgeoning menace of crude oil theft and other related acts of economic sabotage, the Defence Headquarters set up Operation DAKATAR DA BARAWO on April 1, 2022. According to the reason for its set up, Operation DAKARTA DA BARAWO, which means “stop the thief” in Hausa Language, will focus attention on dominating the nation's waterways through aggressive and intelligence driven patrols to curtail pipeline vandalism, illegal oil refining as well as prevent conveyance of stolen oil products to other nations through the sea. At the flag off ceremony at Federal

Vice Admiral Gambo

Ocean Terminal Onne, Rivers State, the Chief of Naval Staff (CNS), Vice Admiral Awwal Gambo, said it was imperative to curtail the incessant crude oil theft, illegal oil refining and other sundry crimes within Nigerian maritime environment and the Gulf of Guinea considering the recent reports of massive revenue losses which compelled all efforts to be emplaced to curtail the wanton theft and illegal oil bunkering of crude oil in the nation’s maritime environment. He said: “It is important to state that the Nigerian Navy

under my watch remains committed to eradicating all acts of criminality in Nigeria’s maritime domain and by extension, the Gulf of Guinea for the economic wellbeing of our people.” “Operation DAKATAR DA BARAWO will involve dominating the nation’s backwaters through aggressive and intelligence driven patrols. It would also be dedicated to monitoring pipelines; block identified strategic estuaries to prevent conveyance of stolen crude oil from inshore to sea and to maintain credible presence along the coastline of areas prone to crude oil theft.” To achieve this, he emphasised the importance of synergy among stakeholders especially NNPC to facilitate the stoppage of oil theft. Meanwhile, given that there is an already existing Operation Delta Safe in that region, the new operation is aimed at reinvigorating it with a view to suffocate economic saboteurs in the Niger Delta region. Other objectives of the new operations include but are not limited to securing critical maritime infrastructure, creating enabling environment for the sustenance of the desired level of hydrocarbon production, safe shipping, and economic activities, and restoring investor confidence in Nigeria Maritime domain. Arrests, Seizures Within two weeks that Operation DAKATAR DA BARAWO was set up, the oil thieves and criminals were denied of about N200 million and $700,000 worth of products within a period of roughly two weeks. In the third week, operatives seized

"It is important to state that the Nigerian Navy under my watch remains committed to eradicating all acts of criminality in Nigeria’s maritime domain and by extension, the Gulf of Guinea for the economic wellbeing of our people"

over 6,000,000 litres of products valued over N3 Billion from oil thieves and economic saboteurs. In the fourth week, the operatives recovered over 2,178,500 litres (13,703 barrels) of stolen crude oil, about 787,500,000 litres of AGO and 20,000 litres of Kerosene all valued above N1.7 billion. However, this caused the migration by operators of Illegal Refining Sites (IRS) from the South-south geopolitical zone to the South-east. Given the gains and successes of the operation in April, the navy extended the duration of the operation beyond the first 30 days. Therefore, for weeks five and six, seizures and arrests of over 6 million litres of products and stolen crude oil were made. Also, more than 20 suspects were arrested and handed over for prosecution. Timeline of Operations, Arrests Recorded Barely three weeks after the operation was launched, the Director of Information (DINFO), Naval Headquarters, Commodore AO Ayo-Vaughan, disclosed to THISDAY that operatives recorded more arrests and seizures. Giving a breakdown of arrests made, he said that as at Tuesday April 5, 2022, the Tactical Riverine Assault Squadron in conjunction with Port Security Officials of the NPA in PH conducted deterrence patrols at Isaka Junction, an area notorious as a hub for violent extortionists and kidnappers. The patrol paid off because as at 1630, the squadron intercepted two wooden boats at Mary Slessor Junction, Indaki in Port Harcourt. The boats were laden with unspecified quantity of product suspected to be illegally refined AGO. They were towed and secured at Taraba Jetty. Also on April 5, 2022, NNS PATHFINDER in Port-Harcourt intercepted nine huge (Cotonou') wooden boats laden with unspecified quantity of illegally refined AGO at Andoki, Bille and other areas within her area of responsibility. Continued on page 23

T H I S D AY ˾ MONDAY MAY 23, 2022

FEATURES

The large scale crude oil theft and pipeline vandalism in Delta

Additionally, Illegal Refining Sites (IRS) with cooking pots, tanks and reservoirs were discovered at in Ketoru Creek. The base also arrested two STARZ marine BOATS DOROH 1 and DOROH 2 for providing illegal escort services within the Bonny maritime area without proper approvals. Also, on April 7, 2022, NNS ABA intercepted and arrested MV ROYAL DIADEM which was laden with suspected illegally refined AGO of unspecified quantity at Bonny area. The vessel was unable to provide appropriate documentation at the point of loading, hence MV ROYAL DIADEM is presently undergoing investigation. Similarly, NNS DELTA at Warri located an IRS around Opumami and Asukpo, Creek laden with about 520,000 litres of suspected stolen crude oil. Also, at Egwa creek in Warri area, an IRS observed to contain several metallic ovens and storage tanks was destroyed. On April 11, 2022, the Forward Operation Base (FOB) FORMOSO acting on intelligence reports raided Fununu Fishing Camp in Akassa, Bayelsa State, a known but suspected hideout for illegal refining operators and sea robbers. In the encounter, a dugout pit containing about 1,258bbls of stolen crude oil was deactivated. In the same vein and on the same day, FOB BONNY destroyed a wooden laden boat with unspecified quantities of suspected crude oil at Nabil creek in Rivers State. On April 15, 2022, NNS SOROH at Yenagoa discovered two stores and assembly points used by illegal bunkerers at Onimbu and Ayama communities subsequently leading to the discovery of 6,000 litres of AGO. The base also arrested three trucks each laden with 35,000 litres of suspected illegally refined AGO. Equally, NNS DELTA at Asugbo, Creek in Warri deactivated an IRS with about 50,000 litres of suspected stolen crude oil and 150,000 litres of suspected sludge. On the same day also, the base deactivated an IRS around Egwa creek in Warri laden with 250,000 litres of stolen crude and about 30,000 litres of illegally refined AGO. Meanwhile, in Akwa Ibom state, NNS JUBILEE intercepted and arrested a wooden boat laden with about 100 drums and sacks of product estimated at about 33,000 litres of suspected illegally refined AGO. Still on April 15, 2022, Nigerian Navy Ship (NNS) DELTA at Warri, deactivated an Illegal Refining Site (IRS) around Sara creek. The IRS had 16 ovens, 16 metal storage tanks and three wide pits filled with about 500,000 litres of illegally refined AGO, as well as 700,000 litres of stolen crude oil, a generator and four pumping machines. According to Commodore Ayo Vaughn, an IRS at Asugbo creek in Warri was also discovered with six ovens, 12 metal storage tanks and five large pits all containing about 600,000 litres of stolen crude oil including 200,000 litres of illegally refined AGO and about 150,000 litres of sludge. On April 19, 2022, sequel to series of air reconnaissance, he said the FOB FORMOSO in Bayelsa State raided an IRS

at Ereweibio creek in Brass LGA. Accordingly, seven large cooking ovens, 10 large metal storage tanks and drums all laden with about 400,000 litres of illegally refined AGO and 20,000 litres of suspected illegally refined PMS were discovered. The site also had five large pits holding approximately 700,000 litres of stolen crude oil. Equally, two pumping machines, one gasoline generator, one submersible pump and one chainsaw machine were discovered at the site and destroyed in situ. Meanwhile, on April 21, 2022, an IRS at Lelemu creek in Warri South-West was discovered. During the operation, 19 ovens, 26 metal storage tanks and two dugout pits laden with about 250,000 litres of suspected stolen crude oil and 50,000 litres of illegally refined AGO were destroyed. To ensure effective deactivation of IRS, NNS DELTA on April 21, 2022 conducted swamp buggy operations during which an earlier identified IRS around Egwa creek in Warri was destroyed. During the operation, 16 ovens, 31 metal storage tanks and seven large pits all filled with about 850,000 litres of stolen crude oil were equally deactivated. On April 22, 2022, the DINFO said around Lelemu creek in Warri South West LGA of Delta State, personnel under NNS DELTA again discovered 22 IRS ovens, 12 metallic storage tanks and five large pits all containing about 150,000 litres of stolen crude oil. At another IRS off Lelemu creek, 19 ovens, 42 storage tanks and 14 large pits containing about 300,000 litres of stolen crude oil, as well as approximately 200,000 litres of illegally refined AGO, 100,000 litres of illegally refined DPK and 100,000 litres of suspected crude oil sludge were all destroyed. In a related but unprecedented development, NNS LUGARD at Kogi State in the course of OPDDB discovered an IRS on 22 April 2022, at a location off Akili-Ozizor community of

Ogbaru LGA, Anambra State. During the operation, four locally fabricated ovens, seven metal storage tanks, four large pits of which two were for storage of about 48,000 litres of stolen crude oil were all destroyed. On the same day, NNS VICTORY in Calabar raided tanker garage along Harbour road in the city and seized a storage tank containing about 45,000 litres of suspected illegally refined AGO. Also, a tanker laden with 33,000 Litres of suspected locally refined AGO was seized and the owner was arrested. Furthermore, about 58 drums of locally refined AGO were also seized. On April 23, 2022, NNS SOROH at Yenagoa, intercepted a wooden boat at Otuokpot Area along Kolo creek. The wooden boat was laden with 60,000 litres of illegally refined AGO together with over 100 sacks of same product. Items on the boat which included one pumping machine, one Yamaha 40HP outboard engine and one locally made boat anchor with the products were destroyed at Ogbia waterside. The base also conducted a search on a Market Boat heading for St Nicolas Axis from Akassa area. About 2,500 litres of suspected illegally refined products stored in gallons and sacks were hidden inside the boat. Accordingly, same were evacuated for destruction. Likewise on the same day, personnel under NNS DELTA on patrol around Jones creek in Warri South West LGA raided an IRS and discovered 33 ovens, 42 metal storage tanks and seven wide pits all filled with about 1,200,000 litres of stolen crude oil, 250,000 litres of illegally refined AGO and about 100,000 litres of sludge. Further combing of the area off Jones creek led to the discovery of another IRS with five ovens, two metal storage tanks and eight large pits with about 150,000 litres of sludge. Both IRS off Jones creek with the discovered items and products were destroyed in situ. Also on April 23, 2022, NNS SOROH at Yenagoa during a patrol of Mbiama , Kiama and Sagbama axis discovered two empty tanker-trucks close to Sagbama waterside which is neither a loading site nor a tank farm. The two trucks were therefore neutralised. Similarly, the base intercepted a Market Boat at Odioma-Diema axis along AkassaBrass route. The boat was laden with over 3,500 litres of suspected crude oil products concealed in drums and gallons which were subsequently evacuated to a river bank and neutralised accordingly.

"For the month of April alone, the Nigerian Navy denied oil thieves and economic saboteurs an estimated N10 billion... for weeks five and six, which saw the extension of the operation given the successes recorded, seizures of over 6 million litres of products and stolen crude oil, amounting to about N3.2 billion were made"

On April 25, 2022, NNS DELTA in Warri deactivated an IRS around Sara creek in Warri South West LGA. A total of 30 refining units/ovens, 35 big metal storage tanks and four large pits cumulatively filled with about 500,000 litres of illegally refined AGO and 700,000 litres of stolen crude oil were deactivated. Also on April 25, 2022, NNS SOROH identified and proceeded to a newly reconstructed IRS off Otuofor creek in Sangana, Brass LGA. The site had two refining ovens, two empty storage tanks and a large wooden boat containing about 100,000 litres of illegally sourced crude oil. These were all destroyed in situ. Thereafter, NNS SOROH searched adjoining creeks around Kotipiri fishing camp before proceeding to another IRS at Ereweibio creek, Sangana Brass LGA. A total of 15 large pits, 10 ovens, seven large metal storage tanks, drums and sacks all containing about 500,000 litres of illegally sourced crude oil, 400,000 litres of illegally refined AGO and 20,000 litres of illegally refined kerosene were discovered and deactivated accordingly. Additionally, one 40Hp Yamaha engine, one Power Series 5,000 Watts generator and one pumping machine were seized from the site. On April 26, 2022, NNS DELTA at Sara creek in Warri SW LGA of Delta State discovered a total of 15 illegal refining units/ovens, 18 metal storage tanks and two large pits all laden with a total of about 150,000 litres of illegally refined AGO and 400,000 litres of stolen crude oil. These were all crushed and destroyed. Also on the same day, the base intercepted one large wooden boat laden with about 200,000 Litres of stolen crude oil hidden in a creek around Ekpemu community in Warri North LGA. Accordingly, the wooden boat and product were destroyed in situ while two pumping machines were seized. On April 30, 2022, NNS PATHFINDER in Port-Harcourt intercepted one wooden boat laden with unspecified quantity of illegally refined AGO at Isaka junction. The Base also conducted swamp buggy operations in Cawthorne channel and later intercepted two wooden boats laden with unspecified quantity of products suspected to be local illegally refined AGO. Also on April 30, FOB BONNY intercepted a large ‘Cotonou’ wooden boat tied to a branch and ladened with about 300,000 litres of product suspected to be local illegally refined AGO. These were all neutralised appropriately. On the same day, NNS DELTA located an IRS around Ogbodede community in Warri South LGA. The site had two ovens, seven metal storage tanks and 10 large pits cumulatively laden with about 275,000 litres of stolen crude oil. The criminals fled before the arrival of the naval patrol team. Nevertheless, the IRS was deactivated. Further exploitation by the base led to the discovery of an inactive IRS off Asisan creek in Warri South LGA. It was observed that the IRS was under construction with one oven already constructed. The site was subsequently destroyed, the DINFO added.

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MONDAY MAY 23, 2022 • T H I S D AY

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T H I S D AY MONDAY MAY 23, Monday May2022 23, 2022 Vol 27. No 9905 TR

See page 28 REVVING UP NATIONAL CONVERSATION PAUL OBI highlights the importance of The Abuja School of Social and Political Thought to the Nigerian discursive space See page 28 THE AGONY OF ZAMFARA KENE OBIEZU writes that the experience of one of Nigeria`s backwater states has been one of malignant terrorism See page 29 MALI AND DEMOCRACY RENAISSANCE There is need for imaginative measures, argues OKELLO OCULI See page 29 EDITORIAL SOKOTO, ZAMFARA AND 2022 WASSCE

See page 30

& RE A S O

opinion@thisdaylive.com

www.thisdaylive.com

APPRECIATION FOR DILIGENCE AND PRODUCTIVITY Mustapha described the special award for COVID-19 conferred on him as an incentive to do more, writes TAJUDEEN KAREEM

UT H

DAVID UGOLOR canvasses the need to move away from the culture that promotes corruption to one that creates incentive for those not willing to induce voters

NIGERIA’S ANTI-CORRUPTION AND SOCIAL REFORM INITIATIVES Last week, our organisation organized a two-day seminar for CSOs and journalists on enhancing advocacy skills on anti-corruption and social inclusive reform issues in Nigeria. It was tagged Enhancing Anti-corruption and Social Inclusive Reform Initiatives in Nigeria. It is designed to enhance local civil society organizations’ ability to be positive and responsible change agents in Nigeria. The Enhancing Anti-corruption and Social Inclusive Reform Initiatives in Nigeria project is designed following the anchor cluster model adopted by Palladium to promote and engage in anti-corruption policy reforms. This project works with us as ‘anchor’ organisation working with eight cluster member organizations spread across six states and the Federal Capital Territory. The States are Abia, Edo, Delta, Imo, Ondo, Rivers and the FCT, Abuja. ANEEJ is working with the eight cluster members located in these states including the FCT to implement and deliver this project. The cluster organisations are: 21st Century Community Empowerment for youth and Women Initiative, Abuja; Community Empowerment and Development Initiative (CEDI), Warri, Delta State; Community Heritage Watch for Development Initiative, (KAI) Akure, Ondo State; Christian Fellowship and Care Foundation (CFCF), Owerri, Imo State; Foundation for Environmental Rights, Advocacy and Development (FENRAD), Aba, Abia State; Gender and Development Action (GADA) Port Harcourt, Rivers State; Joint Association of Persons with Disability (JONAPWD) Edo State Chapter; and New Apostolic Church Centre for Development (NCD), Benin City, Edo State. We consider this project as an important one that seeks to promote and engage in anti-corruption policy reforms at both the national and sub-national levels with an ultimate goal of strengthening governance to deliver development goals to citizens, particularly in addressing poverty and inequality amongst our people. It will interest you to know that aside the anti-corruption component, the project is also designed to address reforms as well as issues of transparency and accountability in the Niger Delta Development Commission (NDDC) and six oil

and gas producing states - Abia, Delta, Edo, Imo, Rivers and Ondo. This explains why participation and cluster members were drawn from these states. During the course of implementing this project, interventions will include advocacy for passage/adoption of pending Anti-Corruption Bills, the National Anti-corruption Strategy (NACS II) and the NDDC Act Amendment Bill currently before the national assembly. The project will also support oversight and implementation of the Nigeria’s International anti-corruption/asset recovery commitments; Oil and Gas Producing Areas Development Commissions, among others. Our cluster currently advocates for the mainstreaming of anti-corruption issues into the country upcoming 2023 general elections discourse. Some of which are already ongoing as CSOs jointly called on political aspirants to mainstream issues of anti-corruption in the upcoming general elections during the learning event held in Benin City in April. If you watched Good morning show on NTA last Tuesday, I spoke extensively about addressing corruption issues during elections, we must move away from the culture and norms that promote corruption and create incentive for those who are not willing to buy votes, induce voters and rig elections. As you know, the Proceeds of Crime

We consider this project as an important one that seeks to promote and engage in anti-corruption policy reforms at both the national and sub-national levels with an ultimate goal of strengthening governance to deliver development goals to citizens, particularly in addressing poverty and inequality amongst our people

Bill (POCA) has just been signed into law by President Muhammadu Buhari which gives a working instrument for the anti-corruption agencies like the EFCC, ICPC and CCB to work collaboratively and solve corruption problems in Nigeria. Since POCA has been passed and assented to, there are others on the queue such as the Whistleblower Protection Bill and the Witness Protection Bill. We should work together to see how RXU FROOHFWLYH HͿRUW FDQ UHVXOW LQ WKH passage of these bills and others. The two-day workshop is VSHFLÀFDOO\ GHVLJQHG IRU &62V DQG MRXUQDOLVWV IURP WKH SURMHFW EHQHÀWLQJ States. We want to see how to enhance your advocacy skills on some of the issues highlighted above and others necessary to advance anti-corruption reforms in Nigeria as well as drive transparency and accountability in management of oil revenues accruing to oil producing states. After the workshop, we want to see change agents from among us here, who, with the right knowledge having been trained can use the acquired knowledge to hold government accountable, advocate and push for reforms and the passage of other relevant pending anti-corruption bills. This is particularly important because the project is hinged on the premix that when CSOs and journalists are trained on anti-corruption and social inclusive reforms issues, and they have the right knowledge and skills to engage government collaboratively based on existing data, they will be able to carry out evidence-based advocacy for reforms. Then, they can also LQÁXHQFH WKH GHYHORSPHQW RI SROLFLHV passage of laws on anti-corruption and social inclusive reforms issues. This is what we aim to achieve with this two-day training and at the end, develop advocacy plan to support the passage of pending anti-corruption bills and other anti-corruption and social inclusive reform issues. I urge Nigerians to participate with keen interest in these issues to put us all on track of the current political economic analysis and how we can collaboratively engage relevant stakeholders at both national and state levels to drive key reforms.

Rev Ugolor is Executive director ANEEJ

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T H I S D AY

PAUL OBI highlights the importance of The Abuja School of Social and Political Thought to the Nigerian discursive space

Mustapha described the special award for COVID-19 conferred on him as an incentive to do more, writes TAJUDEEN KAREEM

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REVVING UP NATIONAL CONVERSATION “Intellectual freedom is the only guarantee of a scientific - democratic approach to politics, economic development and culture” - Andrei Sakharov From time immemorial and historical accounts, societies that have evolved to great nations have achieved that through various layers of intellectual engagement, access to quality education and the enhancement of the discursive space. From the Greek Agora, the Frankfurt School, New School, Council on Foreign Relations (CFR) to new emerging ThinkTanks, the production and distribution of knowledge is at the very core of innovation and intellectual crystallization that has given birth to great nations particularly in western societies. Thus, knowledge production is both an engine room and a lubricant to innovation, development, growth, and even sane society. On a real, knowledge itself is not just a tangible abstract or a supersonic metaphysical concept. Until it’s channel into production, it’s merely a fluidity of no substance. Julian Landry in an edited collection, Critical Perspectives on Think-Tanks: Power, Politics and Knowledge stressed that think-tanks are increasingly becoming enduring fixtures of national and transnational sociopolitical landscape; and although they could be considerably ambivalent, they are social forces geared towards organizing knowledge production, research, ideological advocacy and political mobilization. In the 21st century world, the conceptualization of knowledge has somewhat become the central element of development, and even its existence. Therefore, anything think-tank worth its salt must produce knowledge, or perished in perpetuity. For Nigeria, it’s not about the lack of knowledge, but the advancement of knowledge through the best skills and channels. This gap is evident in the shortage of critical thinking in our being and existence. Although, in the late 1950s, 1960s and 1970s, there was a semblance of intellectual gathering and summoning of ideologies and ideologues. From the Bala Usman flank in Ahmadu Bello University (ABU), Eskor Toyo in University of Calabar, Bolaji Akinyemi in University of Lagos, Tam David-West in University of Ibadan,

It is the Abuja School’s ﬁrm conviction that a new agenda for resetting Nigeria’s national conversation and discourse is guaranteed for the overall good of society Chinua Achebe in University of Nigeria (UNN), or the quattro ring of Achebe - Wole Soyinka - John Pepper Clark and Christopher Okigbo, among other intellectuals, there was an urgency then to project ideas as the forerunner of statehood. But in the 1980s during the catastrophic democratic interruption and the Ibrahim Badamosi Babangida (IBB) chaotic and scorched-earth Structural Adjustment Programme (SAP) and the deep incursion of the military into civil rule in the 1990s, Nigeria’s path to anti-intellectualism kick-started in earnest and took deep roots. What happened was that intellectualism was replaced for gaming the system - and in whatever illicit way. Then, entered school is scam (sic) generation. Despite these efforts against intellectualism, Nigeria’s creative and intellectual DNA never left. Overseas, the Nigerian diasporic community is one of the

most vibrant, creative and intellectually adapt community, maybe second only to India. Back home, Nigerians creativity and innovation in the continent and tech world has been phenomenal. Hence, there is need to crystallize Nigeria’s discursive space for the ideation of thought and our intellectual engagement for the right reasons. It is in the light of the above, that the Abuja School

of Social and Political Thought is stepping in to fill that void and vacuum within the discursive space for a better (de)construction of our sociopolitical, economic and cultural milieu. Leading the pack in the Abuja School, is the Director of the school, Associate Prof Sam Amadi, a Harvard scholar with expertise in clinical jurisprudence; constitutional law, the political economy of human rights; propoor legislative advocacy; legislative theory, energy law, democratic governance; statehood and nation-building; Prof. Udenta Udenta, a Distinguished Fellow and critical theory scholar will focus on the interrogation of culture and cultural politics; the intersection of Nigerian history and democratic journey; global politics and hegemony. Prof Chudi Uwazuruike will be in charge of international relations and politics, exploring diplomacy and Nigeria’s position in a global context. Dr Francis Ohanyido, a public health expert will be researching health governance; vaccination and vaccine equity; health security and global pandemics. There is also Prof Abiodun Adeniyi of Baze University, whose research dwells on diaspora studies and communication; journalism and media studies and strategic communication. There is Prof. Adibe Jideofor; Dr Chizoba Imoka; Dr Law Mefor, Co-Convener of Centre for Liberty; Ariyo Dare Atoye; Barr Victor Okpatare; Director, Initiative for Research Innovation and Advocacy in Development- Electoral Hub, Princess Hamman-Obels; Director of Institutional and Sustainable Development Foundation, Paul Ogwu; Clement Aguiyi; Nze Ugo-Akpe Onwuka; Ndi Kato; Godfrey I. Chidibuwa; Joyce Iwueseter Natu; John Oke; Evangeline Obeta; Mercy Eke; Ngozi Okoye; Dr Kelechi Akubueze; Tochukwu Ifeneme; Rex Odoemenam; Oge Udegbunam, Ose Anenih, among others. For this writer, the research concentration in the Abuja School will be to unpack the interactions involving media, elections, politics and democracy. A focus that will cross-examine the critical role of the media in Nigeria’s democracy and elections. Obi is a journalist, researcher and fellow at the Abuja School of Social and Political Thought interested in media, elections and democracy

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T H I S D AY MONDAY MAY 23, 2022

KENE OBIEZU writes that the experience of one of Nigeria`s backwater states has been one of malignant terrorism

There is need for imaginative measures, argues OKELLO OCULI

THE AGONY OF ZAMFARA Like a cancerous cell, terror has continued to metastasize in Nigeria to leave the Giant of Africa precipitously perched on the edge RI D FOLͿ )RU ZKDW LV WR EH VDLG RI D FRXQWU\ where the poorest citizens have been left at the mercy of ravenous beasts? What words FDQ EH XVHG WR VX΀FLHQWO\ SDUDPHWHUL]H the plight that plagues a country where vulnerable communities have been left at the mercy of gun- crazy and drugdrenched terrorists? Can such a country still be said to have a government? If there indeed remains any detritus of governance in such a country`s corridors of power, isn’t there an urgent need to sweep clean such Augean stables and free them of walking corpses so that a clean slate can be given to those who do not wish to remain stuck in a sorry past? For years now, each time Zamfara State in Northwest Nigeria has thought it had witnessed the zenith of terrorist attacks, a new dimension has been quickly added to the deadly mix. The experience of one of Nigeria`s backwater states in the last few years has been one of malignant terrorism. Students have been abducted from their schools, women have been raped, countless people have been slaughtered and many homes and farms burnt to the ground. In all these, both the Zamfara State government and the federal government have appeared clueless at best and helpless at worst. Sensing the confusion chopping up critical decision making at the highest levels, the terrorists have quickly set up quasi governments in some areas of =DPIDUD 6WDWH 7KH LURQ ÀVW ZKLFK WKH\ have brought on so far appears only a tip of the iceberg on what they will do were they to acquire more territory and power. As surely as the day follows the night, killings have followed killings in Zamfara in recent weeks. About two weeks ago, 48 persons were reportedly killed in three communities of Sabon Gari Damri, Damri and Kalahe in Bakura Local Government Area of the State. A few days ago, terrorists

With an administration that has been mostly clueless about how to handle Nigeria`s multifaced challenges set to leave oﬃce, the heavy sigh of relief Nigerians are preparing to heave must be preceded by the collective demand that those who will lead Nigeria as from next year must show that they have the credentials to combating the corrosive insecurity eating up Nigeria again attacked Kwan-doka, Gidan kada and Kaura-dawa communities of Gusau Local Government Area of the State where they killed about seven persons. Their audacity also saw them move from house to house, searching for valuable food

items as well as carting away animals and food items. The animals rustled included camels. Also at about May 15, 2022, in Faru village of Maradun Local Government Area of Zamfara State, seven persons who had GHÀHG WKH VWHUQ ZDUQLQJ RI WKH WHUURULVWV not to go to their farms were denied the right to life as they were slaughtered by the terrorists. The attacks that convulse Zamfara State practically every week show just how much terrorism has upended Nigerian lives perhaps irreversibly. Every week, all over the country, Nigerians, including security personnel, are killed to compound the country`s insecurity crises. Wherever one turns, death lurks in the shadows. Asking poor innocent villagers whose only means of livelihood is farming not to farm is akin to death. To rustle the domestic animals of people who count animal husbandry, a type of farming, as their means of livelihood is to cruelly leave those already on the breadlines without as much as bread crumbs. While this goes on, the authorities stand by as helplessly as those directly caught in the cycle of violence. For a while now, there have been UHSRUWV WKDW KDYLQJ KDG LWV ÀOO RI GHDWK DQG destruction in Nigeria`s Northeast region, the charabanc of terror was steadily making its way to the Northwest region with Zamfara and Kaduna facing its backlash. With the violence that has steadily gripped both states for some time now, those UHSRUWV ZRXOG DSSHDU FRQÀUPHG Nigeria`s security architecture has been slowly disintegrating for a while now. The slow disintegration has emboldened criminals who were hitherto crawling in the shadows to come out of their hiding and launch attack after attack on innocent Nigerians. Events in Anambra State in the last few months painfully captures this reality. With an administration that has been mostly clueless about how to handle Nigeria`s multifaced challenges set to OHDYH R΀FH QH[W \HDU WKH KHDY\ VLJK RI relief Nigerians are preparing to heave must be preceded by the collective demand that those who will lead Nigeria as from next year at various levels must show that they have the credentials to combating the corrosive insecurity eating up Nigeria. Nigerians can accept no less especially VHHLQJ WKDW WKRVH ZKR ÀUVW SOHGJHG WR combat insecurity and corruption in 2015, rinsed and repeated the pledge in 2019, have joined vulnerable Nigerians to scamper for safety from terrorists after ladling out pardons to convicted thieves. keneobiezu@gmail.com

MALI AND DEMOCRACY RENAISSANCE Modibbo Keita, founding leader of postcolonial Mali, joined Sekou Toure of Guinea and Kwame Nkrumah of Ghana to dream big. The ‘TROIKA’ shared a vision of their three countries being foundation stones for the birth of a ‘UNITED STATES OF AFRICA’. It is likely that while still in their mother’s wombs heard them sing of ancient empires of: Songhai, Ghana and Mali. Nkrumah probably remembered that song about constructing empires when as a student in the United States of America he learnt about 13 colonies (on the country’s Atlantic coast), starting a political SAFARI to a vast country. This seized his imagination The proclamation of ‘’GHANA-GUINESMALI’’ became a song blown across Africa. Racist dictatorships by European immigrants from Tunisia, Algeria, Kenya, to Southern Africa went into urgent panic and resolved to ÀJKW WKH LPSHQGLQJ IUHHGRP KXUULFDQH Nkrumah’s 1958 ‘’ALL-AFRICA CONFERENCE’’ attracted charismatic politicians, including: Patrice Lumumba of Belgian Congo; Tom Mboya (from Kenya), Mohammed Babu (from Zanzibar) and

of the PROMISE. In economies in which household farmers are denied the injection of funds for building their income; education, health care and transport; higher conditions of living, combined with a swelling population who ÁHH IURP UXUDO SRYHUW\ EXW EHFRPH WUDSSHG in unemployment, there is lack of capacity IRU UHPRYLQJ IURP SRZHU R΀FLDOV ZKR KDYH betrayed the TRUST and WELFARE of the people. Using claims of upholding ‘’DEMOCRACY’’ to hold on to power, incumbent rulers discredit the credibility and honour of the doctrine. It becomes a bitter slogan in the ears and eyes of the people. In Sudan under Omar Bashir, the facade of democracy also discredited the legitimacy of ISLAM as cloak of legitimacy for the government. In Mali and Guinea, loss of legitimacy ensured popular welcome for the MILITARY COUP which overthrew civilian elites whose corruption denied the military HͿHFWLYH ZHDSRQV IRU SURWHFWLQJ WKH SHRSOH against slaughter by Islamist invaders. The loss of trust also eroded the dignity of ECOWAS in upholding the principle of In 1962, Prime Minister keeping out military coups as a political tool for governance. This was deepened Julius Nyerere resigned after by the silence of ECOWAS leaders when one year in oﬃce; travelled governments were clearly corrupt and not devoted to protecting their citizens. around the country to The situation echoed past criticism of the consult with TANU leaders, Organisation of African Unity (OAU) as a and evolved Creative Club of corrupt leaders who gave priority to protecting each other while ‘’elephants of Competitive elections within poverty trample on their peoples’’. a popular Single Party. In There is need for imaginative measures. 1961 his party won all seats While at the Rockefeller Foundation’s Conference Centre in Bellagio, a Pakistan in parliament in elections PLOLWDU\ 2΀FHU DWWULEXWHG ODFN RI PLOLWDU\ organised by British coups in neighbouring INDIA to an ancient oﬃcials. No votes were cast IDEOLOGY which allocates political rule exclusively to the BRAHMIN Class. However, as in JAPAN, the BRAHMIN class are intensively indoctrinated with VIRTUE and FEAR of losing their status in Franz Fanon (from Martinique-Algeria). This future cycles of life. panicked Colonial fascists which turned to In Japan, Germany, France, Britain and the military coups; assassinations of warriors of United States of America social engineering democracy for enhancing Africa’s sovereignty, to ensure high quality governance converge economic welfare and patriotic struggles. on establishing select universities for the Blood-stained silences took over. most brilliant students who are groomed for Of the TROIKA for realising a United leadership in political and economic sectors. States of Africa, Modibbo Keita and Kwame Their academic training is very rigorous. Nkrumah lost power to military coups. The Stanford University, for example, has an national interest of external countries overrode Internship scheme which attaches students commitments to building democracy. to Members of Congress. Bill Clinton recalls From under this political silence have come WKH SRVLWLYH LQÁXHQFH RI DV D 6HFRQGDU\ PL[HG HͿRUWV WR FRQVWUXFW GHPRFUDWLF SROLWLFV 6FKRRO VWXGHQW ZRUNLQJ LQ WKH 2΀FH RI In Liberia, Sierra Leone, Ethiopia, Somalia, Senator Fulbright. Uganda, Rwanda and Sudan, the gun has In Japan, those trained for the political accompanied governance. In Algeria and sector do not engage in business. Old Boy 6XGDQ UHVLOLHQW PDVV SURWHVWV KDYH GHÀHG ties enable easy dialogue between top guns by incumbent rulers in their thirst for a politicians and top businessmen. ‘NEW DEMOCRACY’. In 1962, Prime Minister Julius Nyerere In Mali and Guinea (Conakry), corrupt and UHVLJQHG DIWHU RQH \HDU LQ R΀FH WUDYHOOHG brutal suppression of critics and opposition around the country to consult with politicians were used to prop up a facade of TANU leaders, and evolved CREATIVE ‘’Democracy’’. Governance eroded the role COMPETITIVE elections within a popular of TRUST by the people for their rulers. The SINGLE PARTY. In 1961 his party won all power of that Trust is in governors serving seats in parliament in elections organised by the material welfare of the GOVERNED. %ULWLVK R΀FLDOV 1R YRWHV ZHUH FDVW The process of elections both serve to put the PROMISE to serve in power, and reviews the Prof Oculi Record of Performance in keeping the sanctity writes from Abuja

4 30

T H I S D AY

MONDAY MAY 23, 2022

EDITORIAL

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

SOKOTO, ZAMFARA AND 2022 WASSCE The states should do more to encourage education

t is most unfortunate that both Sokoto and Zamfara States did not present students from their public secondary schools to sit for the onJRLQJ :HVW $IULFDQ 6HQLRU 6FKRRO &HUWLÀFDWH Examination (WASSCE), which started on 16th May and will end on 23rd June. Students in private schools in the two states however enrolled for the exams, according to the Head of the West African ([DPLQDWLRQ &RXQFLO :$(& R΀FH LQ 1LJHULD 3DWULFN Areghan. Sadly, these are two of the most educationally disadvantaged states in the country. The insecurity situation in Zamfara being bandied E\ R΀FLDOV FRXOG QRW possibly have prevented the state government from compiling the names of all, or at least most, public school students and submitting the list to WAEC before the deadline. Besides, how come that politicians can mount campaigns for various R΀FHV DQG DUH ULJKW QRZ PRYLQJ DOO RYHU WKH VWDWH IRU the votes of delegates at their primaries? According to reports, WAEC refused to accept students from Zamfara State because of accumulated debt owed over several years by previous and current administrations. Meanwhile, there is money for politicians in the state to throw around. In the case of Sokoto, this is the second year in a row that the state government did not present its public schools’ students for the exams. The commissioner for education, Bello Guiwa, was reported as saying WKH VWDWH FKRVH WR SDWURQLVH 1DWLRQDO ([DPLQDWLRQV &RXQFLO 1(&2 DQG 1DWLRQDO %XVLQHVV DQG 7HFKQLFDO ([DPLQDWLRQ %RDUG 1%7( H[DPV VLQFH LW LV QRW mandatory for students to sit for WAEC. While we agree with Guiwa that there is no compulsion on WASSCE, students often sit for its exams because it is older and generally considered more credible than the other ones. It also enjoys more prestige globally and should not have been discarded by the two state

JRYHUQPHQWV RQ ÁLPV\ JURXQGV There is a claim that WAEC refused to accommodate public school candidates from Sokoto State in 2021 because the education ministry failed to upload the mandatory continuous assessment score (CASS) for its FDQGLGDWHV 1R H[FXVH LV JRRG HQRXJK IRU WKLV OD[LW\ While Sokoto State has also experienced insecurity problems, especially on its northern fringes, this could not explain the failure to compile and upload continuous assessment scores. This is a serious indictment on the authorities in the state. In defence, Mohammed Bello, spokesman to Governor Aminu Tambuwal said Sokoto students in public schools were not enrolled because WAEC failed to furnish the state with details RI LWV 7D[ ,GHQWLÀFDWLRQ 1XPEHU 7,1 KHQFH WKH\ had to look for alternative examinations. “Instead of supplying the state JRYHUQPHQW ZLWK WKH UHTXLUHG ÀQDQFLDO SURSULHW\ FRGH LQ FRPSOLDQFH ZLWK WKH VWDWH·V ÀVFDO WUDQVSDUHQF\ accountability and sustainability programme, which VWLSXODWHV IRU FRUUHFWQHVV LQ DOO ÀQDQFLDO GHDOLQJV WAEC chose to ask for an advance payment of 40 per cent on the 30,000 candidates proposed for sponsorship by the government last year,” Bello claimed. But WAEC has countered that “at no time did the council ask for upfront payment. The state government asked for 100 per cent credit facility, and we refused it.” Whatever may be the truth, the authorities in Sokoto and Zamfara States must know that the failure to present students for WASSCE does not portray them in good light with respect to the education of their youths. That private schools in these states are registered for WASSCE indeed indicates that there is no excuse for what can be described as misplaced priorities. We hope the authorities in both Sokoto and Zamfara will work to ensure this does not happen again in the interest of children.

The authorities in Sokoto and Zamfara States must know that the failure to present students for WASSCE does not portray them in good light with respect to the education of their youths T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

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

LETTERS DEBORAH YAKUBU AND THE RELIGION OF ISLAM The recent gruesome murder of Deborah Samuel has once again stirred the conventional debate regarding the ties between Islam and terrorism. The tragic incident had further generated a three-legged reaction internationally DQG ORFDOO\ 7KH UHDFWLRQ RI WKH ÀUVW FDWHJRU\ RI SHRSOH YHhemently alluded Islam to terrorism. This segment of people claimed that Islamic tenet basically preaches violence. Their argument was also buttressed with a reference to the long-standing anarchy and chaos bedeviling numerous nations dominated by Muslims. The second argument revolving around Deborah’s murder didn’t have any iota of religious coloration. The proponents of this argument are also non-muslims. It could be deduced from their reactions that Deborah’s murderers only executed their criminal intent under Islamic guise. They condemned the killing of Deborah and therefore demanded the murderers’ arrest and prosecution. Many UHQRZQHG FOHULFV VXFK DV 3DVWRU (QRFK $GHER\H 3DVWRU 7XQGH %DNDUH %LVKRS 'DYLG 2\HGHSR %LVKRS 0DWWKHZ Kukah amongst others, fell into this category.

The third reaction regarding the unfortunate incident was from the Muslim communities. A segment of Islamic adherents condemned the murder. Amongst them were WKH VSLULWXDO OHDGHU RI 1LJHULD·V 0XVOLPV DQG 6XOWDQ RI 6RNRWR $OKDML 6D·DG $EXEDNDU DQG WKH OHDGHUVKLS RI 1DVUXO /DKL O )DWLK 1$6)$7 LQ 1LJHULD 7KH PXUGHU RQ WKH RWKHU KDQG ZDV MXVWLÀHG E\ VRPH ,VODPLF FOHULFV LQ VRPH quarters. Without minding whose ox is gored, it should EH VLQFHUHO\ QRWHG WKDW WKH ÀUVW FDWHJRU\ RI SHUVRQV ZKR claimed Islam symbolizes violence couldn’t totally be castigated. Deborah’s murder is highly provocative. The extra-judicial killings and unwarranted attacks on the lives DQG SURSHUW\ RI QRQ PXVOLPV LQ 1LJHULD XQGHU WKH JXLVH RI transgressing the Islamic law are alarming. The Christian religious leaders were not driven by emotions in handling Deborah’s matter. The casualties often recorded in the violent attacks usually are executed by misguided fanatics hiding under Islamic toga. Binzak Azeez, Newworth LLP (Legal Practitioners), Onikan, Lagos

ONE VOICE IN OGWASHI-UKWU With strongly educative writings like those of John Milton and Stuart Mill, society, little by little, became informed and educated about freedom of communication or expression and saw the need to allow its unrestricted exercise. With positively non-conforming stands and activities of public spirited and highly courageous men like Socrates, Martin Luther and Galileo, society gradually imbibed the futility of repressing the human thought, conscience and speech. Today, not only are homo-sapiens informed that freedom of expression is the most important bedrock of individual and societal growth, they are also aware that it is a sine qua non for self-government, for peaceful social

and political change. That is why we the members of 2QH 9RLFH 2JZDVKL 8NZX 'HOWD State, have come out as a pressure group to crusade for youth inclusion LQ WKH SROLWLFV RI 2JZDVKL 8NZX DQG WR LQÁXHQFH SRVLWLYH GHYHORSPHQW LQ 2JZDVKL 8NZX :H DUH QRW D SDUWLsan but a patriotic group of sons and GDXJKWHUV RI 2JZDVKL 8NZX ZKR DUH only interested in good governance IRU WKH EHQHÀW RI RXU FRPPXQLW\ DQG posterity. We as youths are saying enough is enough of underdevelopPHQW LQ 2JZDVKL 8NZX DQG ZH ZLOO XVH RXU LQÁXHQFH WR FRQWULEXWH WR WKH development of our homeland. Feyisetan Akeeb Kareem, karfeyio@gmail.com

T H I S D AY ˾ MONDAY, MAY 23, 2022

BUSINESSWORLD R A T E S MONEY MARKET

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N416.75/ 1 US DOLLAR*

OVERNIGHT

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0.03%

YEAR TO DATE

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1028%

MONTH-TO-DATE

– 1.31%

As Scarcity Persists, CBN FX Sales to Authorised D e a l e r s D e c l i n e 24.65% to $21.82bn

Kayode Tokede The Central Bank of Nigeria (CBN) sold a total of $21.82billion foreign exchange to authorised dealers in 2021, compared with the $28.96billion sold by the apex bank in 2020, representing a decline of 24.65 per cent. The CBN in its latest economic report disclosed that total foreign exchange sales to authorised dealers was at $1.65 billion in January, representing a decrease of 3.1 per

cent, relative to $1.71 billion in December 2021. A breakdown of the report revealed that foreign exchange sales at the SME window, interbank/ invisible foreign exchange sales and matured swaps contracts rose by 24.4 per cent, 25.9 per cent, and 60.8 per cent to $0.14 billion, $0.18 billion and $0.21 billion, respectively, in January, relative to the amount in December 2021. The disaggregation of authorised dealers accessing foreign exchange

are those at Investors’ and Exporters’ (I&E) windows, Retail Secondary Market Intervention Sales (SMIS), Small and Medium Enterprises (SMEs) and interbank sales, Swap and the Bureau De Change (BDC) operators. According to the report, “However foreign exchange sales to the I&E and SMIS windows fell by 13.7 per cent and 16.3 per cent to $0.58 billion and $0.54 billion, respectively, in the month under review.

“To enhance exchange rate management and achieve accurate value from import and export items in and out of Nigeria, the Bank introduced e-evaluator and e-invoicing to replace the hard copy final invoice as part of the documentation for trade transactions. “Effective February 1, 2022, import and export operations would require the submission of an electronic invoice (e-invoice) authenticated by the authorised

dealer banks on the Nigeria Single Window portal – trade monitoring system (TRMS).” The CBN in July 2021 had suspended foreign exchange supply to BDC operators, accusing them of rent-seeking behaviour and involvement in money laundering activities. Meanwhile, analysts attributed decline in foreign exchange supply to authorised dealers to suspension of sales to BDCs operators, among other factors, stating its impact on

fall in rates. Speaking with THISDAY, an economist and Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, stated that the drop in foreign exchange to authorised dealers is due to scarcity. Explaining further he said, “The problem of oil theft is affecting production and foreign exchange earnings. Revenue from oil still Continued on page 32

Food Prices: Countries Urged to Expand Production as WTO Downgrade Trade Forecast to 3% in 2022 Oluchi Chibuzor To prevent the acceleration of acute food insecurity trends in the coming months and years, the United Nations has stressed

the importance of expanding food production at the country-level by providing cash and critical inputs for cereal and vegetable production, as well as protecting livestock with treatments, vaccinations, feed and

water. This was emphasized at a United Nations Security Council meeting, held in New York, and chaired by the U.S. Secretary of State Antony Blinken.

The meeting, which also saw the participation of UN SecretaryGeneral, Antonio Guterres and the Executive Director of the World Food Programme (WFP), David Beasley, Food and Agriculture

Organisation (FAO) posited that agriculture was key to lasting peace and security. However, speaking at the UN Security Council debate in New York entitled, ‘Maintenance of

International Peace and Security – Conflict and Food Security’, the Director General, FAO, QU Dongyu noted that conflict remains the main Continued on page 32

M A R K E T D ATA A S AT F R I D AY, M AY 2 0 , 2 0 2 2 BILLS

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Price

Yield

14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027 13.98 23-FEB2028

110.85

7.73

108.85

9.89

106.42

10.35

119.11

11.07

111.18

11.28

Change Updated Time (%) May 20, -0.01 2022 May 20, 0.00 2022 May 20, -0.15 2022 May 20, 0.00 2022 May 20, 0.00 2022

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293,00 296,00

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Change Updated Time (%) 0.15 May 20, 2022

8.75

0.14 May 20, 2022

11.32 11.58

-0.39 May 20, 2022

8.00

-0.43 May 20, 2022

14.13 15.09

-0.16 May 20, 2022

7.86

CONTRACT Current TENOR Contract Rate ($/₦) (MONTH) NGUS MAY 25 1 427.24 2022 NGUS JUN 29 428.93 2 2022 NGUS JUL 27 3 430.63 2022 NGUS AUG 31 4 432.32 2022 NGUS SEP 28 5 434.02 2022

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MONDAY, MAY 23, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS SUPPORT FOR ARTISANS…

L-R: Group Head, Product & Market Development, Polaris Bank, Mrs. Adebimpe Ihekuna; Executive Secretary, LSETF, Teju Abisoye; Executive Director, Lagos Business, Polaris Bank,Segun Opeke and Director of Programs, LSETF, Omolara Adewumi, at the Launch of N1b LSETF/Polaris Artisans Fund in Lagos… recently

BoI Pays CBN, MOFI N7.89bn Dividend as Profit Surged by 75% James Emejo in Abuja The Bank of Industry (BoI) has said its Profit Before Tax (PBT) increased by 75 per cent to N61.15 billion in the 2021 financial year. The bank also declared a dividend payment of N7.89 billion to its two shareholders namely the Ministry of Finance Incorporated (MOFI) and the Central Bank of Nigeria (CBN). The Chairman of BoI, Mallam Aliyu Dikko, at its 62nd Annual General Meeting (AGM) held over the weekend in Abuja, said the dividend payout demonstrated the bank’s capacity to withstand economic headwinds to boost the federal government’s revenue. He told THISDAY, “You know we were just coming out of the COVID-19 pandemic in 2021. In 2020, business was challenging, we had to give a lot of concessions to our customers in 2020. “Even though this continued in 2021, because of the increase in businesses in 2021 when you compare to 2020, we were able to make profits in 2021 better than the previous year. “In spite of all the concessions we have given to our clients, we were still able to manage costs very well as well as recorded these profits.” Also speaking at the AGM, the ban’s Managing Director/Chief Executive, Mr. Olukayode Pitan, said the upward trajectory in the bank’s performance has enabled it to attract local and foreign capital in order to fulfill the obligations

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

of its mandate. According to him, the development finance institution successfully issued a €750 million Eurobond recently to enhance its capital base to support customers and the real sector of the Nigerian economy.

While reaffirming the bank’s continued efforts toward supporting its stakeholders and achieving its mandate, he said, “Our commitment to building a resilient organisation that can respond to the needs of our customers and operating

challenges is unwavering. We strongly believe that we can achieve this with the continuous support of all our stakeholders.” Pitan said, “It is the 62nd AGM of the bank and it was a very successful one. The profit before tax (PBT) for the group

was over N62 billion and this is the best result the bank has experienced since it was set up over 62 years ago. “The balance sheet is roughly N1.7 trillion and has grown in leaps and bounds over the last four years. This year already, we

have raised 750 Euros from the first Eurobond that we did in February this year.” In the year under review, the bank disbursed a total of N213.63 billion to 30,406 Nigerian enterprises through both direct and indirect methods.”

Polaris Bank, LSETF Launch N1bn Fund to Empower Artisans in Lagos Polaris Bank and the Lagos State Employment Trust Fund (LSETF) have partnered to provide N1 billion fund to artisans operating in Lagos state. This was disclosed at a joint media launch of the artisans’ funds and addressed by the Bank’s Executive Director, Lagos Business, Mr. Segun Opeke. Opeke explained that the partnership with LSETF is aimed at providing the much-needed funding to create wealth and empower artisans and players within the MSME space in Lagos

state who have been in business operation for a minimum of one year. He noted that Polaris Bank will be providing N500 milliob counterpart funding in the partnership while LSETF is providing to the fund the same amount. He encouraged artisans in the state to take advantage of the facility. In her presentation at the signing off ceremony, the Executive Secretary of LSETF, Tejumola Abisoye, stated, “LSETF working with the Lagos State Council of Tradesmen and Artisans and the

Ministry of Wealth Creation and Employment is committed to making impact by ensuring it creates access to finance and sustainable job opportunities for artisans in Lagos State. “We are happy to partner with Polaris Bank in ensuring that this mandate is achieved, and we know that through this fund, thousands of artisan businesses across the state can become sustainable. At LSETF, we are open to more strategic partnerships to reduce unemployment by building the capacity and improving the

productivity of Lagos residents.” Explaining the process of accessing the artisans’ funds, the Group Head, Products and Market, Polaris Bank, Mrs. Adebimpe Ihekuna, said the scheme is highly subsidised at less than 1% flat per month and artisans who wish to take advantage of the facility can complete an application form; provide proof of verifiable business location with evidence of tenancy and domiciliation of business account to Polaris Bank. Applicants, she added, are also to provide business plan among

other friendly terms throughout the tenor of the facility. On her part, Director of Programs, LSETF, Omolara Adewumi, expressed appreciation to Polaris Bank for the collaboration and the gesture of coming on board as a financial partner. She noted the role MSMEs play in creating jobs and reducing poverty. “I believe the time for this kind of matching funds which focuses mainly on artisans in Lagos state is now and we know that this collaboration will be a successful one,” she added.

House Calls on Foreign Airlines to Employ Nigerians as Cabin, Cockpit Crew Chinedu Eze House of Representatives Committee on Aviation has urged foreign airlines to employ Nigerians as cabin and cockpit crew, warning that it would audit foreign airlines that are operating into the country to ascertain the number of

Nigerians they employed as part of their cabin staff and technical crew (pilots and engineers). The Chairman of the Committee, Hon. Nnolim Nnaji who disclosed this in a statement in Abuja said, “The parliament would also be interested in finding out the percentage of their tickets that

are sold by local travel agents and at what commission.” Nnaji stated that the audit would be done through the Nigeria Civil Aviation Authority (NCAA) adding that if discovered that Nigeria is being shortchanged in any way the legislators would not allow it. He noted that the country has

been over generous to the airlines with unrestricted access to the Nigeria travel market, which they must reciprocate by engaging indigenous pilots, engineers and licensed cabin crew into their technical staff. “Most of the foreign airlines are granted multiple entry points into the country so as representatives of

the people we will be interested in knowing how such gestures reflect in our economy and labour force It is equally important that we know the percentage of their tickets that are sold by our local agents so that we ensure that what obtains in other climes are same here”, Nnaji said.

AS SCARCITY PERSISTS, CBN FX SALES TO AUTHORISED DEALERS DECLINE 24.65% TO $21.82BN accounts for over 80 per cent of our foreign exchange earnings. Once we have problem with our theft, according to government, it is expected to affect capacity to fund the foreign exchange market. “There is issue of divestment in supply over insecurity and a lot investors at the onshore have moved to another country. All the companies that should produce for Nigeria to earn foreign exchange are moving because of the problems and it is reflecting in our foreign exchange earnings.”

He noted that Nigeria is facing inappropriate policies in the oil & gas sector, leading to the introduction of Petroleum Industry Act (PIA) “It took us a long time to pass the PIA into law and on the implementation, we have been footdragging it. The policy environment has not been favourable to oil & gas affecting foreign exchange to key sectors that are in need of it. “Mind you, at some point in 2021, there was dwindling oil prices. Once you have

such situation, the CBN tends to reduce supply. In addition, there was problem of foreign exchange policy itself. The foreign exchange policy of CBN has not been favourable to non-oil sector. “We have seen a drop in foreign direct investment, foreign portfolio investment and export proceeds due to policies in the foreign exchange. CBN can only give what they have and the factors I have highlighted summarizes it all, ”he said. Commenting, the Head

Financial Institutions’ Ratings Agusto & Co, Mr. Ayokunle Olubunmi, in his response said sources of accessing foreign exchange dropped in 2021 despite steady increase in global oil price amid global economy recovery from COVID-19 pandemic. According to him, “The vandalism in Niger-Delta affected the amount CBN has in its coffer and it affected supply to authorized dealers. It is meanly a function of supply as things are getting tighter. Despite the

increase in global oil price due to Ukraine and Russia war, Nigeria not benefiting due to vandalism.” In addition, the Vice President, Highcap Securities Limited, Mr. David Adnori stressed on the need of effective foreign exchange. He said, “It is through effective foreign exchange market that we can have transparency, accountability and unified change rate can be achieved. The current system is called administrative allocation of hard currency to few authorized dealers.”

FOOD PRICES: COUNTRIES URGED TO EXPAND PRODUCTION AS WTO DOWNGRADE TRADE FORECAST TO 3% IN 2022 driver of global hunger. “Agrifood supply chains and value chains must be strengthened with the engagement of the public and private sector in support of smallholder farmers and households,” he said. Qu also called on the global community to allocate new resources to sustain agricultural production in challenging contexts and to invest more in innovation and new technologies, especially in water management, and in more

transparent market information systems. “Members urgently need to transform their agrifood systems to be more efficient, more inclusive, more resilient, and more sustainable for better production, better nutrition, a better environment and a better life – leaving no one behind,” QU said. Similarly, in meetings last week with the heads of leading UN System international agencies, WTO Director-General Ngozi

Okonjo-Iweala said that cooperation on trade would be critical to addressing global challenges such as high food prices and the ongoing pandemic. DG Okonjo-Iweala shared her views with international agency heads on key issues ahead of the upcoming 12th Ministerial Conference (MC12), to be held between 12-15 June 2022 in Geneva. During a conversation on the state of the world, DG OkonjoIweala pointed to the ongoing

crises in international security, food, environment and climate, public health, and the world economy. She noted that the WTO had had to downgrade its trade forecast, with merchandise trade volumes now projected to grow three percent in 2022, compared to the four point seven percent forecasted last October. Despite the economic and political headwinds facing trade, the DG said, “trade is very much part of the mix of policy

solutions required to deliver the equitable growth, job creation, and environmental sustainability people around the world need.” She added: “Delivering such results is critical for rebuilding public confidence in international cooperation and multilateral institutions. This is why I have been urging governments to invest in the multilateral trading system and the WTO — starting with a successful 12th Ministerial Conference in Geneva next month.”

T H I S D AY ˾ MONDAY, MAY 23, 2022

BUSINESSWORLD

STATUS REPORT

Wema Bank: Positioned for Stronger Return on Investment

Kayode Tokede

ema Bank Plc continued its growth momentum on the keen interest of driving shareholders’ return on investment and stock price appreciation. The lender continued its impressive performance in unaudited first quarter (Q1) ended March 31, 2022 to underlined the relentless spirit and hard work of the management and staff. Despite challenges in the banking sector, Wema bank in its unaudited Q1 2022 reported double-digit growth in profit to emerge as the highest growth in terms of percentage among listed banks on the Nigerian Exchange Limited (NGX). Wema Bank in the period under review reported a profit before tax that increased to N3.3 billion as against N1.5 billion made in prior period, reflecting a growth of 119 per cent. Profit after tax also increased year-onyear (Y-OY) to N2.86 billion in Q1 2022, representing an increase of 118.95 per cent from N1.30 billion in Q1 of 2021. The growth in profits was driven by double-digit growth in gross earnings, interest income and Non-interest income. In the period under review, Wema Bank recorded gross earnings of N29.14 billion, representing a year-on-year increase of 62 per cent as against N17.96 billion recorded in the first quarter of 2021. Other highlights of the bank’s Q1 2022 result include a qualitative rise in interest income to N23.53 billion year-on-year, an increase of 58 per cent compared to the N14.92 achieved in Q1 of 2021. About 39.5 per cent increase in Loans and advances to banks and customers to N18.22billion in Q1 2022 from N13.06 billion in Q1 2021 contributed to the bank’s significant increase in interest income. Further breakdown of interest income reported by Wema Bank showed 156 per cent increase in Investments security to N6.58billion in Q1 2022 from N2.57billion in Q1 2021. Interest expenses grew by 95 per cent to N14.95 billion in Q1 2022 from N7.66 billion in Q1 2021, driven primarily by expenses on customers deposit to N11.97 billion in Q1 2022 from N4.41 billion reported in Q1 2021.

GROSS EARNINGS, INTEREST INCOME The interplay between gross earnings, interest income and interest expenses positioned net interest income to N10.07 billion in Q1 2022, representing an increase

MD/CEO Wema Bank, Mr. Ademola Adebise

of 15 per cent from N8.77billion reported in Q! 2021. Wema Bank reported N9.8billion net interest income after impairment charge for credit losses in Q1 2022 from N8.6billion in Q1 2021. However, net fee and commission income grew by 59 per cent to N4.05billion in Q1 2022 from N2.56billion in Q1 2021 over 45 per cent and 17 per cent gain from fees on electronic products and account maintenance fees to N787.9million and N634.59 million in Q1 2022, respectively. Therefore, operating income gained 32 per dent to N15.39billion in Q1 2022 from N11.62billion in Q1 2022. On operating expenses, Wema Bank reported 20 per cent increase in Q1 2022 to N12.09 billion from N10.12 billion in Q1 2021. The growth in operating expenses was driven by 12.1 per cent increase in Personnel expenses to N4.4 billion in Q1 2022 from N3.9billion in Q1 2021, while Other operating expenses grew by 25.3 per cent to N6.75billion in Q1 2022 from N5.38 billion reported in Q1 2021. From balance sheet position, the bank grew its deposit base year-to-date by six per cent to N1.022 trillion from N968 billion reported in 2021 full year result and accounts for period ended December 31, 2021. Also, on the positive side its loans and advances which rose from N418 billion in 2021 to N433 billion in Q1, 2022. Total assets in the first three months of 2022 rose by eight per cent to N1.25trillion as of March 31, 2022 from N1.16trillion reported in full

financial year result and accounts for period ended December 31, 2021. The bank had reported a superlative result and dividend pay out to shareholders in the 2021 financial year. Improved 2021 performance With the growth in profit, Wema Bank once again paid shareholders a dividend of N0.24 per 50 kobo ordinary share in 2021 financial year. After 14 years of non-payment of dividend, the lender in 2018 financial year declared dividend of N0.03 amid its capital restructuring exercise. Following its consistent impressive performance, the lender in 2019 and 2020 financial year also declared dividend of N0.04 respectively, to underline the management determination to reward shareholders who invested in the bank’s shares. The group’s profit before tax for the period rose by 108.3 per cent to N12.38 billion from N5.9 billion in 2020, while profit after tax also rose significantly by 94 per cent to N8.9 billion in 2021 from N4.6 bilion reported in 2020. The growth in profits was driven by a Year-on-Year growth of 15.35per cent in gross earnings to N92.14 billion in 2021 from N79.88 billion in 2020. Net-Interest Income grew to N39.87billion in 2021 from N30.86 billion in 2020; growth of 29.22 per cent. Non-interest Income also increased from N16.83 billion in 2021 to N18.83 billion representing a growth of 11.91 per cent. The bank in 2021 display a performance capped with strong growth in key financial indices especially in total assets that crossed the N1 trillion mark. Wema Bank reported 20.23 per cent increase in total asset N1.16 trillion in 2021 from N968.58 billion reported in 2020. Extract from balance sheet position revealed that Wema Bank grew its deposit liabilities up by 15.23 per cent to N927.47 billion in 2021 from N804.87 billion in 2020. The bank’s retail deposits make up 31.6per cent of the total whilst corporate deposits make up 68.4 per cent. Current deposits both increased by 14.2 per cent to N242.5 billion (FY 2020: N212.3 billion) and, while savings deposits grew by 26.8 per cent to N152.3 billion (FY 202: N120.1 billion) due to deliberate effort to grow deposits and improve deposits mix. Term deposits grew by 6.1 per cent to N456.1 billion (FY 2020: N429.8 billion) due to growth in customer activities supported by

our digital strategy In addition, loans and advances to customers rose by 16.33 per cent to N418.86 billion in 2021 from N360.08 billion in 2020.

CONCLUSION Commenting on the bank’s performance, the Managing Director, Chief Executive officer of the bank, Mr. Ademola Adebise in a statement attributed the impressive performance to the relentless spirit and hard work of the employees. “Our human capital resource remains the single most important factor in our upward trajectory and improved figures in recent times. They have been cracking difficult business puzzles and providing business solutions that solve business problems in an amazing and incredible fashion, “Adebise said. On his part, the bank’s Chief Finance Officer, Mr. Tunde Mabawonku, explained how the bank employed progressive business development drive and the deployment of cutting-edge technology to deliver superior banking services to their customers. “We have deployed digital banking assets to optimize customer satisfaction as well as to reduce cost and inefficiency. ALAT has been strengthened and has been well received by the business community as well as the youth segment of the market. We hope to build on these successes and deliver greater value and services to our esteemed customers and deliver better returns to our shareholders”, Mabawonku said. Mabawonku noted that, “a key measure of success for us is a consistent growth in our balance sheet and customer base – and we are glad that we are reporting healthy growth in all these areas. Looking forward, we expect that the strong growth will be sustained despite the tough business climate as we execute our customer experience improvement initiatives built around a digital first banking strategy and become first in class in that sphere. “The bank will also continue to focus on our digital business, which is a key boost for customer acquisition, consumer lending and transaction volumes while not neglecting our corporate and commercial play. On our commercial business, we will continue our aggressive strategy to improve our lending business alongside trade and other revenue lines. We have also unveiled our new Mission and Vision statements, which underpins our corporate strategy. We want to be the dominant digital platform in Africa delivering seamless financial service.”

MONDAY, MAY 23, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R; Lagos State Commissioner for Science and Technology,Mr. Hakeem Popoola Fahm; Group CEO, Red for Africa,Mr. Debola Williams; Marketing Director, Anheuser-Busch InBev, Mrs.Tolulope Tomori Adedeji; ; Founder, Eko Innovation Centre and Curator, MarkHack 1.0,Mr.Victor Afolabi; Winners of MarkHack 1.0, Ernest Ogbanefe; Mr. Shadrach Akao; and Special Adviser to the Lagos State Governor on Innovation and Technology, Mr. Tunbosun Alake, at the maiden edition of the media and marketing Hackathon tagged PHOTO: ETOP UKUTT “MarkHack 1.0” organized by Eko Innovation Centre and GDM Group held in Lagos… recently

FG Vows Support for NEXIM Bank to Raise Non-oil Export Revenues to 30% James Emejo in Abuja The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said the federal government would provide the necessary support to NEXIM Bank to help improve non-oil export revenues to at least 30 per cent in five years. She said, “This, I believe, is possible and government will be willing and ready to give you the desired support to achieve this target. The threat of a mono-product economy is real, and the recent

episode of the COVID-19 pandemic has further is underscored the need for Nigeria to widen its export basket and deepen its export market.” The minister congratulated the entire board, management and staff of NEXIM for the re-appointment of the Managing Director/Chief Executive, Mr. Abba Bello, the Executive Director, Corporate Services, Dr. Bala Bello and the Executive Director, Business Development, Hon. Stella Okotete, by President Muhammadu for their second and final term of

five years which commenced on April 21, 2022. She pointed out that their reappointment, no doubt was a testimony to the high level of professionalism and commitment with which you managed the affairs of the bank in the last five years. Ahmed noted that prior to their appointment; the bank had been confronted with a myriad of challenges including high volume of non-performing loans, inadequate capitalisation, paucity of operational funds and loss of focus on core mandate which

limited its performance. However, she said, “It is, therefore, heartwarming to note that under your stewardship the bank has witnessed a complete turnaround in all areas of its operational and financial indices and is now on the path of growth.” According to her, the bank under the new management now has a healthy balance sheet, which had grown from about N63 billion in April 2017 to the current level of N250 billion. The non-oil export development

bank had also recovered from a loss position of N8 billion in 2016 to sustained profitability, reaching N4.1 billion in 2021, while over N12 billion has been recovered in non-performing loans. Ahmed said, “I wish to specifically commend your efforts towards the realization of policy objectives of government in the areas of economic diversification and creation of jobs for our citizens by attracting concessional funds into the export sector through strategic partnership as exemplified by the following initiatives collaboration

with the Central Bank of Nigeria to manage the N500 billion Non-Oil Export Stimulation Facility and the N50 billion Export Development Fund, which has now been enhanced to N150 billion owing to the excellent performance of the fund.” She said the only way the executive management could reciprocate the confidence reposed in them by Buhari on their reappointment was by redoubling its efforts to consolidate on the earlier performance and take NEXIM to even greater heights.

Nigeria Pushes for Fly-Green Nigeria Group Set to Onboard 10,000 Programme to Reduce Co2 Emission Farmers to Boost Nigeria’s

Chinedu Eze

The Director General of the Nigeria Civil Aviation Authority (NCAA), Captain Musa Nuhu has said that Nigeria is initiating a Fly-2-Green Nigeria Program to help carbon emission reduction. Nigeria, he noted, is faced with a host of climate change challenges, including the highest deforestation in the African sub-region. He stated hat the programme is engineered to launch the first Green Aviation Marketplace program in Africa and promote progressive possibilities that profit the people and the planet through climate

smart ESG efficient programs that guarantee Green and Blue Economic Growth for the United Nations Global Green Goals Agenda. Nuhu who spoke on the theme: “Green Flight to EcoSystem Conservation in Nigeria Mobilizing Market-Based Measures for Sustainable Aviation in Nigeria,” at the just concluded AFI Week in Abuja, said research indicates that the African continent which is responsible for less than 3 per cent of global emissions would bear the brunt of over 60 per cent of global Green-House Emissions effects. He said this would leave the

continent exposed to myriad of socio-economic, environmental, security and humanitarian challenges from desertification, the drying up of Lake Chad and Blue Bio-diversity losses within Pan-African wetlands and ocean shorelines stressing that it was time for Africa to put a “Green Foot forward.” “Nigeria is home to a host of climate change challenges, most of all bio-diversity degradation and pollution. Nigeria holds the record for the African country with the highest deforestation rate hence, the urgency to mobilize a common but differentiated Sustainable Aviation

Solution for Nigeria that is designed specifically to ensure Bio-Diversity Conservation and Restoration across our communities. “Green-Sky-Green is the first EcoCitizen Flyer Miles program that deploys incentive-based voluntary Eco Label tokens to mitigate Aviation Industry Carbon Emission Footprint beyond the ICAO’s CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) scheme in Nigeria through Forest Impact programs that guarantee Bio-Diversity and Eco-System conservation to combat desertification and protect wetlands for SDG Goals 14 and 15.

Expert Harps on eCommerce Channels as Enabler for Future Growth

Emma Okonji

The Regional Risk Officer, Central and Eastern Europe, Middle East and Africa at Visa, Mr. Charles Lobo, has stressed the need for merchants and customers to take advantage of the various eCommerce channels for online shopping experience. He said eCommerce channels will be the next big thing that will boost the next generation online shopping experience. According to him, “Securing eCommerce channels will enable a springboard for future growth.” Analyzing the effect of COVID-19 on businesses, Lobo said the pandemic prompted a massive spike in e-commerce transactions. People who had never shopped online, and businesses

who had only sold their wares from a physical location, were propelled into a brave new world of digital payments. Research from McKinsey shows that organisations leapfrogged five years’ worth of digital adoption over just eight weeks during 2020, Lobo said. He however said the e-commerce boom has intensified the security processes required to make a sale, thus creating uncertainty for businesses. Giving tips on how to ensure a frictionless shopping experience for online customers while safeguarding against fraud, Lobo said: “It’s hard enough to make a sale online – an average of 70 percent of carts are abandoned by online shoppers across nearly 50 different industries, with further password protection, dual-

authentication and other security measures risking another barrier in place of a sale. “A Transmit Security report found that 55 per cent of consumers said they have stopped using a website because the login process was too complex, while 92 per cent said they would rather abandon a website visit than recover or reset their passwords.” He therefore recommended EMV 3-D Secure, as the solution for next generation authentication. “EMV 3-D Secure is a worldclass authentication solution with rich data at its core. The industry-wide messaging standard allows merchants and issuing banks to verify consumer identity before a transaction is sent for authorisation, helping them to detect and prevent fraud while

benefitting consumers with a smooth, consistent user experience across multiple payment channels, including mobile web, in-app and digital wallet payments. “It can also eliminate the need for consumers to type in passwords to complete their online purchases, meaning fewer steps and fewer false declines at online checkout. Additionally, EMV 3-D Secure allows issuers to leverage advanced data models and intelligent rules to make datadriven authentication decisions and reduce friction at checkout,” Lobo said. Stressing the need for the adoption of eCommerce channels, Lobo explained that eCommerce would become a springboard for future growth, and not just supplementary income.

Food Production Capacity Ugo Aliogo As part of efforts to support federal government commitment to drive increased food production, the Oxford Green Farms Group has stated that they want to support the Federal Government’s drive towards self-sustainability in food production. Speaking at the media briefing to launch the group product ‘Agrolyfe’, the Chief Executive Officer, Oxford Green Farms Group, Dr. Goodluck Precious, said the group is working towards acquiring 10 million acres of farmland and onboarding 10,000 farmers on our platform within the next five years. He also stated that they would give farmers that they are on-boarding access to grants and off takers for their farming to boost capacity and output, adding that this would add up to 20 percent boost to Nigeria’s overall food production capacity. He further explained that the organisation’s research team has been relentless in designing an innovative product that is market-fit, appeals to everyone, and creates consistent incomeearning opportunities for

everyone interested, “this is what birthed the product we are launching today, Agrolyfe.” According to him, “AGROLYFE is that child delivered when you marry Agriculture with Real Estate; it is a product that leverages farming and real estate to generate stable and reliable rental income for customers through farmland acquisition. Think of it like this: Buy Land, Rent Out to Farmers for Farming, and Earn Rental on these farms at Short Intervals. Smart, right? That is exactly what AgroLyfe is. With AgroLyfe, you can purchase farmlands from as low as N100,000 to N2,000,000, and earn rentals on it every three months. We immediately flag off with four farm locations, including Ijaka in Aiyetoro, Ogun state, Itele in Ijebu, Ogun state, Imala Town, Oke-Ogun, and Ibadan, Oyo state. And we are adding 20 more locations to this scheme within the next 30 – 60 days.” Also speaking at the event, the Managing Director, AgroLyfe, Mr. Yinka Phillips, noted that the product offering is targeting 10,000 acres of arable land in its pilot phase for this year.

MONDAY, MAY 23, 2022 ˾ T H I S D AY

BUSINESSWORLD

AGRICULTURE

Closing the Maize Demand & Supply Gap in Nigeria Gilbert Ekwugbe

aize farming provides a significant source of income for many farming households, and it is also an important part of many families’ diets. The average Nigerian consumes maize or its derivatives daily with major output from 19 States including Kaduna, Adamawa, Taraba, Anambra, Benue, Kwara, Yobe, Ogun, Osun, and Oyo States. In 2021, Nigeria’s maize output reached its highest level since the country’s independence in 1960, signaling a significant step forward for a country that has struggled for decades with a subpar domestic food supply. The maize production output increased from 12.8 to 13.94 million metric tons between 2020 and 2021 and propelled the country to become Africa’s largest maize producer followed by South Africa, Egypt, and Ethiopia. Nigeria’s agricultural sector currently accounts for a sizable portion of the country’s GDP as agriculture contributed 22.35 percent of total GDP between January and March 2021 and upping it by nearly one percent from the previous year. The agricultural GDP of Nigeria is entirely made up of maize, which accounts for 5.88 percent of the country’s total. According to the US Department of Agriculture, maize output increased by 16% in 2021 over the previous year. The increase comes a year after the Central Bank of Nigeria prohibited the use of government-supplied foreign exchange for maize imports in an effort to reduce imports and boost domestic output. The figure is also significant at a time when global food scarcity is becoming a concern as a result of Russia’s invasion of Ukraine. Despite this stride, local output has trailed consumption for years, sparking importation and having dire consequences for the Naira and job creation. Hybrid maize has been identified as the panacea for closing the maize demand and supply chain gap in Nigeria. This solution could well turn around the fortune of the country

in more ways than one. Hybrid seeds have improved genetics, a higher production potential, and unique trait combinations to combat diseases and poor growing conditions. The quality of hybrid seed, on the other hand, is highly dependent on-field production methods, both in terms of quality assurance and proper agronomic management. If grown properly, hybrids generally outperform open-pollinated varieties in terms of yield. They are uniform in colour, maturity, and other plant characteristics, allowing farmers to perform certain operations, such as harvesting, simultaneously. They are easier and faster to grow than heirlooms, and they produce plants with larger fruit, higher yields, disease resistance, and longer shelf life. In a March 2022 Punch publication, agriculture, and seed specialist, Brighton Karume, urged Nigerian maize farmers to adopt hybrid seed varieties in their operations, stating that the country’s low adoption of improved seed varieties is reducing maize production. According to him, only about 10% of Nigerian farmers use hybrid seeds, which has made it difficult for the country to meet the national requirement for maize output. He argued further that if maize farmers use hybrid maize varieties, Nigeria can double its production capacity and become self-sufficient. Furthermore, at the recently concluded Nigeria Maize Conference, the Head of Product Supply for Africa, Bayer South Africa, Johan Du Plessis, backed Mr Karume’s claim, noting that hybrid maize adoption in South Africa, Malawi, and Zimbabwe is between 50 and 75 percent, while Nigeria, despite being Africa’s leading maize producer, is still struggling to improve on its 10 percent adoption rate. According to Karume, if the foregoing is any indication, Nigeria’s maize demand and supply gap could be closed if all stakeholders collaborated. As a result, Nigeria’s effort to become a global figure in maize production will be sustained, and the country’s economy will benefit significantly.

Henkel Reaffirms Commitment to Quality, Improved Service Delivery Gilbert Ekugbe Henkel Nigeria, the maker of WAW and Nittol laundry detergents, has reaffirmed its commitment towards ensuring its products are made from the highest quality standards to meet the needs of its loyal customer across the country. The Head of Quality, Elijah Egbedeyi, stated this when he received on behalf of the company the National Quality Excellence Award as the best in class quality cleaning soaps production company of the year in Lagos. Receiving the award, Egbedeyi said the recognition is also a reassurance of the company’s resolve to continue producing innovative and quality products to surpass customers’ expectations. He added that Henkel Nigeria aims to develop Nigeria-centric brands and products that are backed by global German product quality and reliability standards. The awards ceremony was organised by the Allied Integrated Promotion and Management Limited, a frontline Quantity Assessment and Promotion company had in attendance top government functionaries, CEOs and Quality Managers. The event themed; ‘The Art and Science of Quality/Marketing’, explored the symbiotic relationship between human and science aspect of quality management. The summit addressed soft

skills, cultural consciousness and leadership offered alongside practical presentations, outlining leading-edge applications and technologies, which helped to bridge the gap between emotional and scientific intelligence, and advanced the quality community’s national standing as a comprehensive resource for progress, innovation and excellence. In 2016, Henkel acquired Expand Global Industries Limited (EGIL). Since then, Henkel has continuously invested in the improvement of the production tools and the SHE standards in its Ibadan site. Thus, contributing to satisfy the local demand in products that combine high performance, reliability, and quality. Through an extensive local distributor network, Henkel provides thousands of jobs across the country as it aims to be a major contributor to the Nigerian economy while supporting its driving forces and empowering talents with the ultimate ambition to produce for Nigerians by Nigerians. In another development, the detergent maker also celebrated the annual World Day for Safety and Health at Work, reiterating its commitment to workplace safety, which has been an integral part of the company’s corporate culture for decades. The Henkel Nigeria Plant Manager, Roman Rylyk, said the company is fully aligned with the theme of the 2022 World Day for Safety and

Health at Work; ‘Act together to build a positive safety and health culture’. “At Henkel, our purpose is Pioneers at heart for the good of generations. “This is built from our roots and carries a longstanding legacy of innovation, responsibility, and sustainability into the future. Leveraging on the health and safety of our workers is central to the sustainability of our business,” he said. He noted that the company does this with the provision of a safe and healthy work environment for the workforce and the collaborative notion of one worker being responsible for the safety of the other. Rylyk further said, “Safety is our utmost priority in our daily operations. We manage, design, and operate our facilities to maximize safety…this includes continuous investment in the improvement of the production tools and SHE standards in our plant.” As a multinational company, Henkel has been able to leverage off of its global best practice to ensure it has a systemic and well-structured local strategy when it comes to safety standards. Rylyk asserted that this consists of, but not limited to, full compliance to local regulation and corporate standards, as well as providing technical solutions to protecting high risk industrial equipment and training their employees on safety requirements and safe operating procedures.

T H I S D AY ˾ MONDAY, MAY 23, 2022

BUSINESSWORLD

NEWS

FG Tasks New NAICOM Board on Good Governance, Insurance Penetration James Emejo in Abuja The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, has charged the newly constituted Governing Board of the National Insurance Commission (NAICOM) to ensure good corporate governance, and support management in creating

enabling environment for both the staff and other stakeholders and ensure harmony within the board. The minister further tasked the board, chaired by Dr. Abubakar Sani, to reciprocate the gesture of President Muhammadu Buhari who had approved their appointments by bringing their

wealth of experience to bear on the activities of the commission and the Insurance Industry at large. Ahmed, at the inauguration of the board of NAICOM over the weekend, specifically tasked the board and management to evolve policies and create new insurance products as well as build the

desired trust and confidence in the minds of Nigerians with a view to enhancing insurance penetration. Thomas, on his part, said, the portal represented one of the initiatives of the commission being pursued to deepen the insurance market and increase the penetration to the level that

is consistent with the country’s economy. He said, “Indeed, this is a welcome development and further demonstration of commitment by development partners to the transformation of the Nigerian economy and the change agenda of the current administration under the leadership of His

Excellency, President Muhammadu Buhari, GCFR. “Honourable Minister, it is expected that the challenges of poor insurance penetration, public trust and confidence in insurance, and inadequate real-time statistical data of the insurance industry will be resolved through the efficient deployment of the portal.”

Lottery Commission Summons Betting Company Over Non-payment of Winnings Kemi Olaitan in Ibadan

THIRD ANNIVERSARY…

L-R: Special Assistant to Oyo State Governor on ICT, Mr. Adebayo Akande; CEO, Chaka Technologies, Mr. Tosin Osibudu, and Business Development Manager, FTX Africa, Mr. Adebayo Juwon, during the FTX Africa third year anniversary, which held in Lagos… recently

The National Lottery Regulatory Commission (NLRC), has summoned one of the betting companies, MSports, over issues pertaining to non-payment of winnings. It was learnt that representatives of the company were invited to a meeting by the Director General of NLRC, Mr. Lanre Gbajabiamila, in order to resolve the issues. The Director General in his remarks, during the meeting, said there have been a lot of complaints by those who stake bet on the betting company, stating that many people complained of not being paid their winnings, which went viral on Twitter. Gbajabiamila added that he summoned the management of the betting company in order to answer to the allegations. According to him, “The

Commission just ended a meeting with representative of MSports, Mrs. Fumilola Akingbelu, where all issues pertaining to non-payment of winnings were resolved. MSports will pay all winnings as soon as possible and unblock all blocked accounts within a short time. “There have been a lot of complaints by those who stake bet on MSports, complaints of not being paid their winnings which went viral on Twitter so the DG summoned the management of the betting company to answer to that allegation.” Akingbelu in her own remarks, said all issues pertaining to nonpayment of winnings have been resolved during the meeting, pledging that MSports will pay all winnings as soon as possible. She added that the company will unblock all blocked accounts within a short time.

Danbatta, Alale Extol Pantami’s Olaniyan Steps Down as Appointment as WSIS Chair MD of Omnicom Solutions Emma Okonji The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, and the the Managing Director, NIGCOMSAT Ltd, Dr. Abimbola Alale, have congratulated the Minister of Communications and Digital Economy, Prof. Isa Ali Pantami, on his appointment as the chairman of the 2022 World Summit on Information Society (WSIS) Forum by the International Telecommunication Union (ITU). Danbatta described the

choice of the Minister to chair the forum as a worthy recognition of Nigeria’s leadership in the world’s digital economy ecosystem, where Nigeria has continued to hold a front-row seat in the area of information and communication technology (ICT) promotion for driving national development. “On behalf of the Board, management and staff of the Nigerian Communications Commission, I want to express our delight and congratulations to the Hon. Minister of Communications and Digital Economy, Prof, Isa Ali Ibrahim Pantami, on his

well-deserved appointment by the International Telecommunication Union (ITU) to chair this year’s WSIS Forum. “The appointment did not surprise us at NCC, given the important role the Hon. Ministry has been playing in driving the digital economy policies, the implementation of which by the agencies under his supervision is helping boosting diversifying the nation’s economy,” Danbatta said. Alale, who on behalf of the board members and staff of NIGCOMSAT, expressed joy and satisfaction on the choice of the Minister said

this was due to his diligent, hardwork and passion in the Information and Communication Technology (ICT) Industry. According to Alale, there couldn’t have been any better choice to lead the Forum Session recognizing the tremendous impact of Pantami’s leadership in the ICT industry in the country. “Since the his assumption as the Minister of Communications and Digital Economy, the focus and direction of the industry on the Nigeria economy has changed to a more fruitful, impactful and growth,” Alale said.

Winner Emerges in DAAYTA Talent Award Emma Okonji ARM has announced the winner of the Deji Alli ARM Young Talent Award (DAAYTA) 2022 programme at the finalists’ pitch event which held recently. Tunde Adeyemi of D-Olivette Enterprise, emerged winner out of seven contestants to claim the N12 million grant. His business idea – D-Olivette is a social enterprise that is accelerating the advent of sustainable domestic

biogas biodigester for clean cooking, electrification, and sustainable agriculture. The enterprise is doing this through the provision of domestic biodigesters innovation exclusively designed to convert household, farm organic waste and biodegradable wastewater into fertilizer and biogas within ten days. DAAYTA 2022 focused on start-ups with a minimum viable product (MVP) and at least one customer. Four hundred and twenty-five

(425) applications from start-up entrepreneurs were received and following a meticulous review process, the top 6 contestants were identified and chosen. These six made their pitches at the event in the hope of winning the N12 million grant. Speaking about the occasion, the Executive Director of ARM Pensions, Osahan Ogiemuda said, “I say a big congratulations to the winner Tunde Adeyemi of D-Olivette Enterprise and

all runners up. We believe that they all have what it takes to make a sustainable impact in their communities. I also appreciate the entire team and partners who have supported this initiative to ensure that we achieve our goal of enabling young entrepreneurs with innovative ideas to change the narrative in their various communities.” The participants went through a selected team of judges who are experts in different fields.

Emma Okonji One of Nigeria’s leading telecom executives, Lanre Olaniyan, has stepped down from his position as the Managing Director of Omnicom Solutions Limited after 14 years of managing the company’s affairs. Confirming the news in a statement, Olaniyan explained that contrary to the usual expectation, he did not quit the company but only decided to step aside to focus on other interests. “I’m still part of the Omnicom team, and I only stepped aside as the MD. Knowing that I have given my best to Omnicom, I believe the stage is set for someone new to run the company and take it to greater heights while I sit on the board and give advisory support. “I am still involved in the business; I am aware of its activities, and I continue to lend my know-how and industry influence to enable the growth of the organization” he explained. Known for his private lifestyle, he further revealed that his decision to step aside had been reached for a while due to several reasons but was only made official in March 2022, describing the development as the latest good news from his over 15-year career in the Nigerian telecom sector, and expressing gratitude to God for the many successes the company achieved under his leadership.

While stressing that the company would remain focused on its vision, the Massachusetts Institute of Technology (MIT) alumnus also provided a brief insight into its history. “Omnicom is my brainchild; I came up with the idea in 2007, and I invited some of my friends to join me, and since then, I’d been the managing partner responsible for the day-to-day operation of the business. I like to see this new development as part of our growth as individuals and as a business,” he said. Olaniyan led Omnicom Solutions from its startup years into a multibillion-naira company with several projects in Nigeria and across the West African subregion, as revealed during its 10th anniversary in 2018. “In the subsector where we work, we are one of the biggest. Pre-Covid, we had more than 500 staff, and even during-covid, while everybody was downsizing, we were hiring more, and we never stopped working throughout the Covid-19 pandemic. “I have poured my ideologies about how a company should be into Omnicom, and they have given us amazing results. Omnicom grew from a fourmillion-naira company to a multibillion-naira company, and I think we have done a lot already. Now, the company can only go higher and get bigger, and I believe I have built the foundation for that to happen.,” Olaniyan added.

T H I S D AY • MONDAY, MAY 23, 2022

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The Nigerian Alternative Space; NTFs and Metaverse

ith the global trend of digitalising access to real-time and universal processes, the need to fully tap into the unlimited potentials of the internet and the usability of this virtual space is top on the list of the world’s most needed engagement. In achieving this, the world has experienced a wealth of evolving inventions, many of which have redefined the outlook of what the future holds for global digitalisation and human interaction with the alternative space. A number of these inventions have gradually opened billions of internet users to several Blockchains. Part of these is the Non-Fungible Tokens (NFTs) and the Metaverse, which are vital contributors to this ever-increasing engagement as they are fast becoming economic drivers. Industries and governmental establishments are beginning to re-address their traditional outlook on products and services as a one-off process that only stirs interest in their customers. Rather, the economic value of product and services now have an interactive value addition for both parties, that is, both the company and the buyer of the product alternatively exchange value. THE NFTS The Non-fungible tokens (NFTs) are patented units of data stored on the blockchain, a digitalised database replacing cryptocurrencies like Ethereum, Bitcoin, Solara, etc. The major difference here is the NFTs’ non-interchangeability, unlike other cryptocurrencies. With NFTs, one can buy or sell digital substances like artworks, tweets, virtual trading cards and images, videos, virtual real estate, records, etc. The NFT market, as of 2021, was worth $24.9 billion globally, with 42 per cent of Nigerians owning one or more cryptorelated products or trading such. This, therefore, puts Nigeria as the foremost crypto-engaged nation in the world, but the story glides into a low when NTFs are concerned. There is a dire need for more Nigerians to engage in the alternative space the same way young artists, musicians, fashion enthusiasts, educators, and organisations are digging deep into this virtual space. A typical testimonial was historically recorded in 2021 when Jacon Osinachi, a digital artist, auctioned a series of NFTs at Christie, London. Another is the collaboration between ART X Lagos and SuperRare to host the first activation platform globally, and the contributions of Michael Ugwu, a pioneer NFT art collector in Nigeria, also widens the scope. These are bits of what could be achieved asides from the jaw-enlarging turnovers that these art pieces pull in. In his book Rolling Stone, author and investor, Larry Dvoskin explained that the goal for NFT is that of building a community. He noted that people invest their time, ideas, collaborations, talks, support, and purchase of other art and projects solely to build a community, the cornerstone behind any success story. He further addressed the fact that with NFTs, the need to be engaged is created for definite interest groups, and with this, global interest as regards the specific group rapidly receives attention. METAVERSE For Metaverse, the focus is on online users having real-life experiences through interconnected virtual and augmented environments. This level of engagement blends the physical and virtual realities in the sense that it connects to every aspect

of human interaction. There is a sort of transition or escape the Metaverse provides for users that creates an alternative world for them and helps them stretch the full potential of the online space through technologies like Virtual Reality and Augmented Reality (AR). The closest we have to this experience is that of the gaming industry, the 3D experience, but the Metaverse provides even more. Another boom that comes with the Metaverse is the integration of the blockchain and the Web3 experiences. Metaverse through the Blockchain helps users decentralise control of what they do in their various virtual spaces, which means roles of tech giants are actively sidelined. On the other hand, the web3 secures the users’ absolute ownership and control of data and the maximum security that comes with encryption. This translates to users deciding when their data is to be used, seen, and shared. The centrality of the Internet of Things (IoT) also comes with web3, which allows for smooth interoperability in the virtual space. The user is not only secured in terms of privacy but also made to engage in value addition and influencing structures of the companies through the help of NFTs and smart contracts. NIGERIA VS NFTS AND METAVERSE Nigeria, as a country, is a potential benefactor of the boom and trending economic injections of NFTs, and the Metaverse opens the global world. Her massive young population agrees with this, but the thorn therein is seen in the under-exploration or redundancy that comes with adapting to the global technological trend. Several reasons are responsible for this, but still, few Nigerians have found their path in redefining the contributions of what the country tends to gain. Some viral pictures of an elderly drummer, Ayangbele ‘Baba Onilu’, were taken by Adisa Olashile, a National Youth Service Corps member

in Ibadan, who converted the pictures to NFTs and sold them for half a million naira. Anthony Azekwoh, one of the most visible digital artists on the continent, also made huge gains from NFTs and has gone on to help emerging artists. Oyindamola Oyewumi, a female ballpoint pen artist hit came to the limelight when she posted her picture of Charles Hoskinson, the co-founder of Ethereum, who later helped her put the picture for sales as an NFT. The list is endless, but the attention given to this easing opportunity is not leading to the needed adaptation necessary for Nigeria to build a wealth breeding digital space. In addition to this, the goal of building a Metaverse is herculean in nature, considering the innate challenges attached to Nigeria’s reality first as a physical entity before considering it to be a virtual conception. Unlike South Africa, which is drastically working at building the African Metaverse called the Ubuntuland, all in amassing the wealth of creativity, commerce, and the economic strength of the cryptocurrencies, Nigeria is still contending with how cryptocurrencies further devalue the worth of the naira. According to an article posted by the APO Group, many multinationals have begun to show interest in acquiring virtual lands. It is pitiable that having a Nigerian alternative virtual space remains a distant reality because the high cost of the internet still cumbers the nation. Despite the able population, the truckload of unemployed individuals put the internet on a luxury list. With the Metaverse comes a need for this population to acquire enabling accessory gadgets which are unaffordable for average Nigerians who earn less than $1 daily. The need for a 5G network is too tall for the crippling adaptation capacity of the Nigerian telecommunication space. Presently, the country is still

transiting a large chunk of its population to the 4G network. We have the issue of constant power supply ravaging this dream because Nigeria cannot generate the needed power to control the country daily; therefore, accommodating the Metaverse is spiking the anguish of the average Nigerian. DESPITE CHALLENGES, NIGERIANS ENGAGING GLOBAL VIRTUAL SPACE Names like Delz Erinle and Niyi Oyewole, co-founders of Astra, a cryptodriven structure that amalgamates fashion and gaming, have made the virtual space necessary. The big dream is to create a multi-chained metaverse that will allow for social events and Metacommerce. While social event hosting allows for the rent of virtual spaces, the latter plunges into creating an in-store shopping experience for users using wearable technologies. For Idiat Shiole, a 3D fashion designer, the Metaverse has opened her to a kind of freedom that traditional and physical fashion cannot give her. Her desire is to create virtual fabric designs that resonates with her language and identity without the poking fear of stagnating commercialisation or acceptability. Music producer Don Jazzy also refused to allow the Nigerian disenabling factor to dissuade him as he purchased some virtual land properties on Dentraland, worth $80,000 on averagely. CONCLUSION The enormous proceeds that will come with the Nigerian government and private institutions adapting to the global trends of the digital sphere, as relating to the booster effects of cryptocurrencies, NFTs, and the need to build a Nigerian alternative space, are significant economic signifiers for a futuristic harvest. There is so much to be earned from owning a virtual space. Young Nigerians are, hereby, challenged daily to forgo the downsized realities of the country and explore the emerging benefits of NFTs and the Metaverse because the future here is an evolving one, and no one knows how big it will turn out to be.

T H I S D AY ˾ MONDAY, MAY 23, 2022

HOMES&DESIGN Africa Re Builds Smart in Abuja

MONDAY, MAY 23, 2022 ˾ T H I S D AY

HOMES&DESIGN

Africa Re Tower: Ambience, Aesthetics and Allure Assembled in Abuja Africa Re spared no expense in delivering its headquarters building in Abuja. Like most modern structures of that statue, it is designed to ﬁt into a green future. Bennett Oghifo writes

he promoters of the Africa Re Head Office building envisage it will comply with the Green Building Initiative and will seek to be LEED (Leadership in Environmental and Energy Design) certified by the USGBC (US Green Building Council). The project is developed by the African Reinsurance Corporation (Africa Re), a leading pan-African reinsurance company and the largest reinsurer in Africa in terms of net reinsurance written premiums. It was designed by Adeniyi Coker Consultants Limited (ACCL). Africa Re Head Office is a 12-floor building (including a basement) set for construction on Plot 1572, Central Area, Cadastral Zone A00, in Abuja’s Central Business District (CBD), next to the Federal Ministry of Finance. The Africa Re Head Office building is designed to have a technical floor that

will house inverters, batteries, air handling units, chillers, and pumps above the 10th floor. The roof has a canopy frame covering the main glazed spaces below, thereby shading them from the sun. The roof also provides a flat platform that will accommodate substantial solar panels to offset some of the energy needs of the building. The building features over 250 carparking spaces sitting on a sloping site of approximately 5,800sqm, spread in the basement floor and upper split-floor levels ending at the third floor of the main building. The building evolved as the Lagosbased Adeniyi Coker Consultants Ltd (ACCL) unveiled its winning design scheme for the proposed African Reinsurance Corporate Headquarters in Abuja. The Africa Reinsurance Corporation

had put out a request for proposal in February 2019 to develop the proposed Africa Re Corporate Headquarters in line with the company’s decision to relocate its head office from Lagos to Abuja. The design scheme by ACCL was selected from the received submissions. Their design fulfilled Africa Re’s brief for a head-office building with a modern and unique design that will provide tier 1 facilities on the one hand and a sustainable and energy-efficient design on the other, making use of smart technology and achieving most especially LEED Certification (Leadership in Energy and Environmental Design). The African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company and the largest reinsurer in Africa regarding net reinsurance written

premiums. Africa Re was set up by 36 African states in 1976, following a recommendation of the African Development Bank (AfDB), to develop the insurance and reinsurance industry in Africa through increased underwriting and retention capacities and support the economic development of the continent. Ranked 36th in the 2019 Standard & Poor’s Global Reinsurance Groups and 41st in the Top 50 Global Reinsurance Groups by AM Best in 2019, Africa Re has a broad-based shareholding comprising: 42 African member States (34.63 per cent); the African Development Bank (8.38 per cent); 114 African insurance and reinsurance companies (34.94 per cent); and three non-regional shareholders (23.05 per cent), including leading global insurers and reinsurers from France (AXA), Canada (FAIRFAX) and Germany (ALLIANZ SE).

MONDAY, MAY 23, 2022 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

As NNPC Fully Becomes Limited Liability Company Dike Onwuamaeze writes on the expectations from the Nigerian National Petroleum Corporation as it becomes a Limited Liability Company from July

Kyari

he Nigerian National Petroleum Company Limited (NNPC) from July 1, 2022, is expected to become a fully Limited Liability Company whose operations would be fully run in compliance with the provisions of the Companies and Allied Matters Act (CAMA) of 2020. This is in accordance with the provisions of the Petroleum Industry Act (PIA). Indeed, with the passage of the PIA, there’s no gainsaying that the operations of the NNPC would be significantly impacted when the law comes into full swing. Section 53(1) of PIA 2021 requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of the enactment of the PIA in consultation with the Minister of Finance on the nominal shares of the company. The PIA also raised stakeholders’ expectations on the company, even as it has given it a wide room to stimulate investments in the oil and gas industry. Also, Section 65 of the Act encourages NNPC Limited and its joint venture partners to explore the use of incorporated joint venture companies. The NNPC is also required to declare dividends to its shareholders and retain 20 per cent of profit as retained earnings to grow its business like any other incorporated entity incorporated under the Companies and Allied Matters Act, as provided under Section 53(7) of the Petroleum Industry Act. The Corporate Affairs Commission had on September 21, last year, completed the incorporation of the NNPC Ltd in accordance with the provisions of the Petroleum Industry Act 2021. The PIA was signed into law by President Muhammadu Buhari on 16th August, 2021, following its passage by the National Assembly in July of the same year. Specifically, Section 53(1) of the Petroleum Industry Act 2021, requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of the enactment of the PIA in consultation with the Minister of Finance on the nominal shares of the Company. Since the signing of the PIA into law in August last year, there had been several engagements between the NNPC, the Nigeria Downstream and Midstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Ministry of Petroleum, Ministry of Finance, Governors, legislators, host communities and other key stakeholders to understand the impact of the

changes the PIA brings. A PIA transition committee was also set up to drive the transition. The NNPC had also set up an in-house committee supported by consultants that included McKinsey, KPMG, PWC, Wood McKenzie and Olaniwun Ajayi LP, to define and implement the transition roadmap. This roadmap includes valuation of the assets and liabilities, development of corporate governance frameworks, rebranding of NNPC to NNPC Ltd and change management. With the registration by the CAC, the NNPC Limited was floated with an initial capital of N200 billion making history as the company with the highest share capital in the country. As a limited liability company, the NNPC would be required to pay taxes and dividends to its shareholders, including the government, and the new status of the national oil company allows it to be listed on a stock exchange. Also, its operations would not be subsidised by government. With its new structure from July, the NNPC would have reviewed its existing assets and liabilities, determined those that it intend to operate based on sustainable commercial principles and incorporate those assets into its balance sheet. Furthermore, in line with CAMA, the company’s operations would be fully commercialised and operated in line with profit motive. This could definitely lead to an increase in the price of the products and services it offers particularly to Nigerians. However, where there is an impact on prices of petroleum products, the government would determine how the differential would be managed. It might not automatically be transferred to the citizens as the government had always stated its commitment to providing energy security and sustaining the economy. With the NNPC fully transiting to a CAMA company, existing contracts and joint operating agreements with the national oil company would be evaluated and transferred in line with agreed principles to ensure business continuity. Also, what this means is that from July, the monthly remittances the NNPC makes to the federation account during the Federation Account Allocation Committee meeting would be discontinued, while dividends would be paid at regular intervals defined by the approved dividend policy. In terms of investments, it is expected

that the company would take up additional investments in upstream assets to increase gas production in line with the federal government’s ‘Decade of Gas,’ agenda; expansion of its downstream operations to ensure energy security and the development of modular refineries in addition to current investment in rehabilitation of existing refineries, going forward. It is also worthy to note that gas is the new oil expected to drive the strategy in reshaping and optimising the NNPC portfolio. Therefore, the NNPC would thus prioritise acquisition of assets rich in gas, especially those ready for blowdown. It shouldn’t come as a surprise that the national oil company, which is expected to sustain its new status by pursuing new investment opportunities in the oil and gas industry would expand its asset base. In order to reshape its portfolio, it would rely on acquiring assets that have high performance, low vulnerability and huge gas potential. It would also aspire to acquire high performance assets with robust reserves with potential for growth and high performance and operators will be a key priority NNPC would consider in reshaping its portfolio. With this, assets which have minimal vulnerability would be prioritised over assets which have higher vulnerability to security or production loss issues. President Muhammadu Buhari had last year received the certificate of incorporation of the NNPC from the Corporate Affairs Commission (CAC). The president had then pointed out that with the certification of the company, the country expected nothing less from the Board of Directors, the chief executive officer and the chief finance officer, “than the realisation of a global national oil company that this nation desires and deserves”. The president had described the incorporation as “a significant milestone in our quest to create an enduring National Energy Company that can compete with its global peers and deliver value to its shareholders, the Nigerian people”. He said his expectation was for a speedy transition through taking all steps required to transfer assets, human and material, “and without wasting time to capitalize the company as required by the Petroleum Industry Act”. He had expressed the hope that the institutions would immediately take off

to facilitate effective implementation of the provisions of the PIA “on accelerated gas development and optimization of oil production and support for energy transition”. In addition, Buhari had mandated the national oil company to focus on profitability and continuous value creation beyond the simple fulfilment of legal and regulatory requirements. “NNPC Limited is expected to operate at par with its industry peers across the world, while acting as enabler-company that will foster the development of other sectors of our economy,” Buhari had said. Also, the Group Managing Director of NNPC, Mele Kyari, had said the incorporation was, “history made again, a massive transformation from what we know, to where we are going,” under Buhari’s leadership. He added that lots of values had been delivered in the past seven years, “and we still have further accountability and values to deliver.” Kyari had said the company’s operational leaning would henceforth be business-like, with profit motive, as a CAMA entity. He had said under the new arrangement, the company would raise between $3.5 billion and $5 billion in corporate finance to fund major upstream investments under its funding strategy for selected upstream investments. The NNPC strategy, Kyari said, also included investing in strategic assets to address integrity, bottlenecking, and growth issues in the oil industry, such as “rigless” activities and oil drilling campaigns. This saw the company recently securing a $5 billion corporate finance commitment from the African Export-Import Bank (Afreximbank) to fund major investments in Nigeria’s upstream sector. Under the contract, Afreximbank agreed to enter into a finance advisory and fundraising role to raise $5 billion to, “acquire, invest and operate energy producing assets in Nigeria as part of NNPC’s growth strategy following its incorporation as a limited liability company.” Furthermore, the bank committed to underwrite $1 billion as part of forward sales based trade finance transaction. The finance commitment would enable NNPC fund some of its major investments in the country’s upstream oil and gas sector. So, going forward, in line with CAMA, the national oil company would be laying more emphasis on transparency and accountability and would no longer have access to government funding.

T H I S D AY ˾ MONDAY, MAY 23, 2022

BUSINESS SPECIAL

ANALYSIS

Understanding Open Banking Obinna Chima

he Central Bank of Nigeria recently issued regulatory framework for Open Banking in Nigeria as part of its efforts to enhance data sharing across the banking and payments system. The move is expected to promote innovations and broaden the range of financial products and services available to bank customers. The central bank disclosed this in a circular titled: ‘Operational guidelines for open banking in Nigeria,’ posted on its website. The CBN stated: “Open banking recognises the ownership and control of data by customers of financial and non-financial services, and their right to grant authorisations to service providers to access innovative financial products and services. This is anticipated to drive competition and improve access to banking and payments services. “Participants in open banking shall adhere strictly to security standards when accessing and storing data, and shall be subject to minimum privacy standards, operational standards, risk management standards and customer experience standards as prescribed by the Bank.” Open Banking is a system that provides a user with a network of financial institutions’ data using Application Programming Interfaces (APIs). It is the process of enabling third-party payment service and financial service providers to access consumer banking information such as transactions and payment history. It promotes interoperability and networking between banking information and service providers, creating a smoother user experience. The Open Banking Standard defines how financial data should be created, shared and accessed. By relying on networks instead of centralisation, open banking helps financial services customers to securely share their financial data with other financial institutions. Its benefits include more easily transferring funds and comparing product offerings to create a banking experience that best meets each user’s

Emeﬁele needs in the most cost-effective way. To Prof. Yinka David-West of the Lagos Business School, open banking is really about providing access to financial services data through the APIs. According to her, the concept lowers entry barriers for new entrants to the financial services ecosystem, enabling customers to easily decide who has access to their account and transaction data. By breaking current banking monopolies, open banking helps new entrants (without legacy customer data) become more competitive. “As such, older banks will also need to be more innovative and provide more superior

value propositions beyond facilitating transactions. “The prevalence of open banking will provide a more holistic view of any customer irrespective of existing banking relationships,” she had said. Also, one of the promoters of the Open Banking initiative in Nigeria, Mr. Adedeji Olowe, described it as a concept which believes that banks should be open to customers. According to Olowe, bank customers should be able to connect on the centralised platform and transact business with anyone, irrespective of the bank such person is

operating. “And a good example I will give you is that when you have an e-mail on Gmail, if you are using i-phone, you can easily connect it to your iphone and you will be seeing your e-mail. In fact, if you may not need a Gmail app at all. “So, irrespective of the platform you want to use, there is a standard way you can connect and then you are fine. It is the same thing that Open Banking is all about. “The idea is that irrespective of the bank you use, when you see a financial app or you want to pay on a website, you should be able to just put in your details and then you are able to connect to your bank and do the transaction you want,” Olowe had explained. He stressed that the initiative would help accelerate financial inclusion in the country. According to him, in financial inclusion, the idea is to allow people that are less fortunate come into the financial system and carry out transactions at a reduced cost. “Now, the challenge is that when we connect those services to the existing platforms, the platforms try to charge money because they are commercial entities, which makes the cost of financial inclusion expensive. “Open Banking allows operators to connect to the banks directly without passing through any intermediary and the cost of connection to the bank would be free. So, the cost of financial inclusion will reduce. “Nigeria has always taken the lead when it comes to electronic banking. We have that history of always running ahead of everybody,” he added. Thus, to ensure the country harnesses the benefits of this platform, the regulatory environment needs to evolve, which the central bank has done by issuing the guidelines.

Youssef: We’re Focused on Supporting Greater Financial Inclusion in Nigeria Oluchi Chibuzor

billion worth of cryptocurrency, leading to a growth by value of over 1,200 per cent. And at Paxful, Nigeria is its biggest market based on trade volume with nearly two million users and over $760 million in trade volume just last year. Several factors account for the massive adoption in the country, with the intense drive and business aptitude of Nigerian youths at the center. To fuel adoption on the continent, Paxful has built a financial education center in Abuja, Nigeria, hosted dozens of Campus Tours, and attended several community events to listen and learn from the people. Youssef also co-founded the Built With Bitcoin Foundation, a humanitarian organisation devoted to creating equitable opportunity by providing clean water, access to quality education, sustainable farming, and humanitarian support, all powered by Bitcoin. To date, the Foundation has built 10 schools (eight of which are in Africa), seven solar projects, and dozens of water and farming systems across the globe.

ver the last few decades, African countries have faced economic challenges that have prohibited the continent’s prosperity. With a population of over 1.4 billion, the continent’s population lacks comprehensive access to quality healthcare, education, nutrition, and safe drinking water. In addition, unemployment, and underemployment of the youth and women continue to undermine social cohesion and inclusive development. But despite these challenges, the future is bright as Africa youths are discovering alternative methods of generating income, learning new technology, and creating new opportunities to set themselves up for success. Founder/CEO of Paxful, Ray Youssef, in this interview speaks about his confidence in the continent.

CONNECTING TO HIS ROOTS

Originally from Egypt and immigrating to the US at the age of two, Youssef has always been passionate about his home continent of Africa. Growing up in New York, he had humble beginnings, starting his first job at the age of eight, where he ran around the city streets selling heavy stacks of newspapers. “As a young newspaper boy I was able to make decent money. Shortly after, I worked as a teller at my parents’ newsstand. I quickly learned the importance of handling money and connecting to people and the streets. These experiences definitely sparked my entrepreneurial spirit,” he says. As an Entrepreneur, Youssef also experienced hardships, launching eleven start-up businesses, and eventually finding himself couch surfing in the concrete jungle of New York. “It was at this point that I got introduced to Bitcoin by my friend, who convinced me to attend a Bitcoin meetup and see for myself. My friend told me that you could make a 100 per cent profit selling bitcoin for gift cards. I didn’t believe him and then I tried. It worked,” he reminisces. That meetup became a game changer and led to the

LOOKING AHEAD

Youssef birth of Paxful– his 12th and most successful business to date.

BUILDING A FINANCIAL SYSTEM FOR THE 100%

Youssef established Paxful in 2015 alongside his co-founder, Artur Schaback to provide fair and equal access to finance. Through Paxful’s peer-to-peer platform, users from around the globe can instantly and safely connect and use nearly 400 different payment methods to exchange Bitcoin. Narrowing in on Africa, Youssef explained that Paxful is a cure for the

financial crisis that plagues the Global South. He shares, “We created a platform that acts as a global financial passport, providing a solution to the broken financial systems in Africa and giving access to the billions unbanked and underbanked.” True to his projection, today the African continent has become the fastest growing Bitcoin currency economy with the highest grassroots adoption in the world. Between July 2020 and June 2021, Chainalysis, a blockchain research and analytics firm, reported that African countries collectively received around $105.6

Today, Paxful has over nine million users and climbing. For its numerous efforts towards financially empowering communities around the world, the company was recently recognised as Time100 Most Influential Companies as a disruptor, making extraordinary impact around the world. Its emergence on the list follows a careful nomination and evaluation process from across sectors including healthcare, entertainment, technology, etc. On the recognition, Youssef remarks, “I am incredibly proud to work alongside a talented group of individuals to bring global Bitcoin adoption and financial freedom to over nine million people around the world. Financial access should be a human right and Paxful is excited to be included on the Time100 List for our work expanding peer-to-peer finance in support of greater financial inclusion and bridging the economic gap.”

T H I S D AY • MONDAY, MAY 23, 2022

INTERVIEW ADESUWA OKUNBO-RHODES:

My Goal Is to Drive More Investment in Women There’s a lot to admire about Adesuwa Okunbo-Rhodes. She is one of the few African women who have created and managed an investment fund for African women entrepreneurs in the last three years. With a great deal of experience in the finance sector and a passion for promoting gender equality, Adesuwa has focused on changing the country’s narrative for female investors and female-led businesses. Through her fund, she has been able to generate strong financial returns, facilitate job creation and deliver long term positive social and economic impact on the country. A globally-recognised finance expert with a pan-African reach, Adesuwa was recently named on the Black Women in Asset management 40 under 40 list and as one of the Nigerian women breaking the bias by Vanguard Newspaper. Okunbo-Rhodes, in this interview with Azuka Ogujiuba, talks about the positive impact of investing in women and the roles of SMEs as vehicles of growth and economic development. Can you briefly tell us about your background? s a young girl, I always had an interest in finance and economics. This provided a good foundation for my journey into the world of investment banking. I hold a BSc in Economics from the University of Bristol, and during my first year at the university, I started my career in investment banking at Lehman Brothers. Upon graduation from university, I got a job in investment banking with J.P. Morgan, London, where I was involved in $5.6 billion worth of transactions across developed and emerging markets, including Nigeria. From there, I moved to TLG Capital, an Africa-focused private equity fund involved in numerous transactions across Anglophone Africa. At TLG Capital, I made a successful investment in Uganda that generated attractive financial returns and brought about a huge social impact. That experience cemented my interest in impact investing and private equity in Africa. In 2014, I became a co-founding partner at Syntaxis Capital Africa, a provider of growth capital to SMEs in Nigeria and across Sub Saharan Africa and I led transactions totalling over $200 million across SSA. With a wealth of experience spanning 11 years in investment banking and private equity, I launched Aruwa Capital Management with my savings in July 2019. Aruwa Capital Management is a Lagos based, early-stage growth equity and gender lens - a $20 million fund - that invests between $500,000 and $2.5 million in equity and equity-linked instruments into established and rapidly growing businesses within Nigeria and Ghana that are currently overlooked by other private equity funds. Aruwa Capital invests in businesses that either provide goods or services that cater to the untapped $15 trillion female economy or businesses that are founded/led by women or employ women in their workforce/value chain. I am proud to be pioneering with my team, one of the few womenowned funds in Africa investing with this gender lens.

What light-bulb moment motivated you to launch your private equity fund? At Syntaxis Capital Africa, we struggled to fundraise for over four and half years. When I looked around the private equity industry in Africa, I was surprised to see that there were less than 10 private equity funds owned and run by women in Africa that had successfully raised capital. I saw a huge gap in the industry and saw it as an exciting arbitrage opportunity. It was sad to see that in a continent of about 1.3 billion people where women make up 50 per cent of the population and account for the highest percentage of female entrepreneurs in the world (one in four women in Africa are running a business, four times more than Europe) female entrepreneurs were still not able to get access to adequate funds for their businesses. Statistics at that moment showed that women were being underrepresented within the finance sector. The African Development Bank exposed the $42 billion funding gap existing between male and female entrepreneurs on the continent. Aruwa Capital was borne out of my desire to change the narrative. Women face a lot of structural barriers when trying to access funds for their businesses, so I decided to launch my fund in order to provide African female entrepreneurs with easier access to finance. I also wanted to encourage other female fund managers who, despite their track record and expertise

similar to their male counterparts, still struggle to raise funds. My goal is to use our success stories to motivate and inspire others and showcase the business case to drive more investment in women as capital allocators and entrepreneurs. What factors do you consider when selecting a business to invest in? We focus on investing in established, rapidly growing companies within the small to lower mid-market that operate in high-growth industries that have already proven their business model. Our focus on the early-growth segment is intentional because that segment is currently overlooked and underserved as most of the commercial credit and private equity funds target much larger businesses. There are numerous small to midsize businesses in Nigeria that are growing rapidly and have an operating track record of profitability of at least three years but just lack that incremental capital to scale up. Most small to mid-sized companies in Nigeria and across West Africa have limited access to longer-term debt and/or private equity capital to finance their business plans and sustain growth due to the current composition of the industry. Aruwa Capital focuses on providing growth capital to established and proven businesses in this untapped early-stage growth SME segment. We focus on businesses within high growth sectors such as FMCG manufacturing, tech-enabled non-banking financial services, healthcare, essential consumer goods, renewable energy and B2B services. The early-stage growth segment is also mostly free from competition. This is a huge opportunity for us as we are one of the few 100 per cent African women-owned and women-run private equity funds in Africa, so we can easily identify products and services that will benefit women and identify the best businesses that are producing solutions to problems women face. Our network also gives us access to the best female entrepreneurs, and as such, we have a very strong natural competitive advantage in finding and deploying capital to businesses by women and for women. You’re passionate about funding small and medium-scale businesses. How do you see these types of businesses inﬂuencing Africa in the near future? Realising the untapped potential of the SME segment is crucial for Nigeria and the continent to realise its full potential. According to the African Development Bank, over 70 per cent of SMEs in Africa account for a third of GDP and are responsible for under half of total employment. If we can harness growth in the SME segment and provide these underfunded businesses with the flexible and patient growth capital they need, this will be an engine for economic growth and will also foster significant job creation. In Nigeria, the unemployment rate is forecasted to reach 33 per cent. I strongly believe that SMEs that are engines for innovation and disruption can play a crucial role in fostering job creation and ensuring Africa is at the forefront of technology disruptions

in the years to come.

are actively angel investing in Nigeria today.

What’s one thing you would encourage African governments to do to support these businesses? The government should be more intentional in its effort to diversify the economy. There’s a need to support and encourage more businesses that are driving industrialization, e.g., local manufacturing. I strongly believe import substitution will be an engine for growth for Nigeria and Africa at large, where we locally manufacture every day and essential items. There is also a need for reforms within the pensions industry. Nigeria has more than $25billion in pension assets, and we need to better utilise these funds for investments to match the long-term nature of the assets- private equity and infrastructure specifically. Instead of leaving those assets idle in short-term investments, we can raise capital from the pension funds to back industrialisation and invest in infrastructure. Government must also devise policies that would promote private sector development. Without a viable private sector, governments cannot sustain economic growth.

Do you think gender bias in Africa can ever be broken considering our cultures and values? Yes. I believe it can be broken if we use Nigeria as an example. We have seen good strides in the finance and pension industries, where we have a significant amount of women in leadership positions. For gender bias to be broken, we need more women in leadership positions who are making decisions on hiring, promoting, retaining, investing etc. This way, as more women are in decision making roles, they are able to pull other women up and showcase the immense values women can bring to the table across all levels of the economy. I strongly believe the future is female, and Africa is ready to embrace the changes that are ahead for women.

Have you ever faced gender bias within the investment space or as an entrepreneur? Yes, definitely, it was challenging for me, as an African woman, to raise funds within a male-dominated private equity sector. I had to convince institutional investors that I was equal to the task and breakthrough several structural and systemic barriers that exist in our society to get Aruwa Capital to where it is today. To the glory of God, I am very proud of what we have been able to achieve despite the challenges we have faced along the way. We are changing the narrative for female fund managers and using our fund as an example and case study to make the business case to invest in women as fund managers and entrepreneurs. This goal keeps us focused and strong enough to weather all storms that may come our way because it’s not just about us but the impact we will have on others along the journey. There are a lot of female-owned businesses in Africa that are struggling to scale. What advice would you give African female entrepreneurs to help them position their business to be investor ready? Positioning your start-up for investment is all about diligent preparation. I believe female entrepreneurs should focus on being prepared before seeking investments. Knowing every area of your business in significant detail is crucial and also getting your finances and governance in order early in your journey. It is also very important for business owners to have qualified leadership in place and develop a believable, actionable strategic plan that shows significant growth. I believe it’s also easier to get investment if you have some traction first, no matter how small so utilise your angel investing networks, more women and men

What’s the biggest mistake female entrepreneurs should avoid when starting a business? A lot of female entrepreneurs get discouraged very early on in business and may give up or abandon the business because of that. I strongly believe that female entrepreneurs and women everywhere should remain focused and determined. They need to know what they want to achieve and have a dogged determination to achieve it, no matter what. One of my favourite quotes is that “a river does not cut through rock because of its power; it cuts through because of its persistence.” That mindset has guided me in everything I do, and that’s how I have been able to have some of my achievements in my life. My advice would be to never stop believing in yourself, don’t be discouraged by the disappointment or the setbacks. Being a female entrepreneur comes with a lot of responsibilities. How do you manage to achieve a good work-life balance? I am an entrepreneur, CEO, mother, investor and women’s empowerment advocate. It can be challenging to wear many hats as a woman. By the grace of God, I have learned to prioritize over the years. Having the unwavering support of my family and husband has also been very helpful. Most importantly, one has to look up to God for strength and wisdom because it is not easy for a woman to give her best in all situations. It is challenging but with a supportive family, God and determination. You can achieve the balance that works for you. What are the next steps for Mrs Adesuwa Okunbo-Rhodes and for Aruwa Capital Management? The future for Aruwa Capital is to continue to showcase the untapped potential that exists when women are capital allocators. Showing through our investment strategy the seamless intersection we have between a strong financial return, social impact and women’s empowerment. In 2022, we are focused on deploying more capital so that we can have more success stories in our portfolio in addition to the six companies we have today. We are working on attractive investments in consumer goods, agritech and healthcare. For me, the next steps are to continue to build Aruwa Capital to the best of my ability and encourage other female entrepreneurs to bet on themselves. By the grace of God, we will be an example for others to follow.

MONDAY MAY 23, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY MAY 23, 2022

CITYSTRINGS

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

Youths as Necessary Change Agents for Development At the Development Specs Academy roundtable on national issues in Abuja last Wednesday, experts canvassed youths' non-violent interventions in polity for socio-economic development, Sunday Aborisade reports

One of the guest speakers

Participants at the roundtable

peakers drawn from the academia, civil society communities and faith-based organisations, last Wednesday in Abuja, unanimously challenged the Nigerian youths to brace up for the great task of redeeming the country's social, political and economic woes. They spoke on various topics including, the state of the nation, the presidential aspirants, national productivity and value of the naira. Other issues discussed were the youth crises, INEC and 2023 elections, and understanding the wider economy. The speakers bared their minds at the one-day roundtable on national issues, organised by the Development Specs Academy, under the leadership of a former director in the Federal Ministry of Information, Dr. Okey Ikechukwu. Some of the speakers on the occasion included former Secretary of the Catholic Secretariat in Nigeria, Rev.Fr. George Ehusani; Processor of Philosophy at the University of Lagos, Prof Jim Unah, and social commentator-cum-journalist, Dr. Amaechi Anakwue. They also, included a lawyer, who is also a professor of History at the University of Ibadan, Prof. Christopher Ogbogbo; Dr. Amara Albert, Dr. Hyeladi Haruna and former spokesperson for the Nigerian Army, Brigadier Sani Usman (retd.), among others. They addressed participants, drawn from civil society communities, youth-based organisations, youths in politics, social media influencers and promoters of youths activities and events, among others. The experts lamented the current social, economic and political woes bedeviling the country and encouraged the youths to embrace a non-violent expression of interests on national issues. They frowned at the embarrassing, free fall of the naira against the US dollars and blamed the development on misplaced priorities by Nigerians and the managers of the country's economy. The speakers, who noted that productivity remains the major driver of national currency, opined that increased productivity, change in consumption pattern of Nigerians and improvement in national security would create an enabling environment for a reversal of the current state of the nation. They therefore urged the youths to make informed non-violent interventions in the polity with clear goals of development and sustainable social order. The resource persons equally appealed to Nigerians to desist from fake news by taking the advantage of the fact that information could easily be verified to investigate the source of any news item. They described as dangerous, fake recorded audio messages, distorted video clips in circulation, which they argued, usually instigates fake news. They also called for active participation but informed and conflict-sensitive commentary on national issues via social media platforms, just as they charged the government to be proactive in tackling the security challenges. The speakers especially urged the President Muhammadu Buhari administration to ensure

The speakers the release of all those kidnapped on the March 24th train bombings in particular and others in captivity across Nigeria. The former Army spokesperson, Usman, in his submission, specifically described as unacceptable, the inability of the Nigerian government to ensure the release of its citizens still being held in captivity by terrorist from 2014 till date. He said, "Government should intensify efforts to ensure that all those in captivities are not left behind, it should make it a priority, to release the Chibok girls, Leah Sharibu, the March 29 Kaduna kidnap victims and others. " Government should be proactive in information dissemination about what it is doing concerning those in captivity in various parts of the country." He called on the government to be serious in the area of public perception management, crisis and strategic communication and be more proactive in the information dissemination by carrying Nigerians along. Ehusani, in his submission, said the fall of the naira against the world currencies would continue except there was a deliberate move to increase productivity, adding that there must be a change in Nigerian's consumption pattern to shore up the value of the nation's national currency and keep it up in lasting manner. He said, "The CBN has made several interventions in this regard, including,

among others, the Anchor Borrowers Program, which created and capacitated several farmers cooperative and enhanced there access to loans. "It has created millions of jobs, taken many youths off the crime path and rescued many local economies. Only economy-reflating activities, such as the foregoing, in addition to consuming what we produce and producing what we consume, offers the nation the prospect of bringing up the value of the National Currency and keeping it up." In their various responses to questions, fears and concerns raised by the participants, on the type of some characters aspiring to lead Nigeria at the state and federal levels, the speakers noted that aspirants to various political offices have every right to their aspirations in a democracy. They argued that one of them would ultimately emerge but that determining the actual candidate of the various parties is a matter beyond the control of the average citizen. They lamented the cost of forms for contesting various political offices and described them as "being too high, elitist, exclusivist and seems designed to ensure that only individuals and group with heavy war chests can contest for political office." Ikechukwu, the convener, specifically said, " This is wrong. The proposed solutions include outright reduction in the cost of

"...They therefore urged the youths to make informed non-violent interventions in the polity with clear goals of development and sustainable social order..."

forms, by over 95 per cent and return of the balance to the aspirants, except for those of them who may wish to donate such excess to the individual parties concerned." Speaking on youth crises, Ogbogbo said fake news, unverified and correct statements taken out of context, are one of the greatest ills the society is facing at the moment. He said, "This is with regards to the deliberate mischief of iconoclasts, as well as the malevolent machinations of those who distort, misquote of misrepresent audio and video content in order tarnish the image of am individual, or organisation." On the youths participation in politics, Ogbogbo said the Independent National Electoral Commission (INEC) had made tremendous progress in the management of elections. He said, "The introduction of Bivas had increased the credibility of the the electoral process and electoral outcome tremendously. The only suggestion here is that INEC should increase its public enlightenment and political education programs" The fellow of the Society for Peace Studies and Practice added that information about some of the positive strides of the organisation were yet to fully penetrate the society and the political parties. The roundtable rose with a firm resolve to continue driving objective national discourse, informed commentary on national issues, commitment to Chatham House Rules, rejection of hearsay as knowledge and the determination to keep all discussions rancour-free. Concerning fake news, distortions of original media content and the general disregard for verification of sundry media output, the roundtable noted that organisations like the Central Bank of Nigeria, the INEC and several other had been victims of near image damage. In the final analysis, the roundtable advocated a new approach to national conversations, sociopolitical education and citized engagement. The forum also frowned at the continued closure of the Nigerian public universities, noting that the country could have a looming crisis if they were not reopened forthwith. It submitted that the security situation in the country could be made worse if the able-bodied and highly energetic youths are continuously kept idle outside their schools. It therefore advised the Federal Government team negotiating with the striking Academic Staff Union of Universities to conclude their works and accede to the lecturers' requests. The undergraduates in the nation's public universities were also urged to embark on intellectual protest to support their striking lecturers to end the ongoing industrial action. The forum noted that youths face challenges at the levels of capacity, opportunities and wrong role models. It therefore, proposed solutions including the reopening of universities for their continuing education, promotion of vocational skills and innovative entrepreneurship and values reorientation. The experts believe that the development would create the tight mindset that can function successfully in a 21st Century world.

MONDAY MAY 23, 2022 • T H I S D AY

e r d r, C o, s s n e.

T H I S D AY ˾ ˜ MAY 23, 2022

BUSINESS/MONEYGUIDE

FG to Enforce Sale of Agricultural Products via Verified Scale James Emejo ÓØ ÌßÔË The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, has said the memorandum on the sale of tubers and other agricultural products by way of verified scales will soon be implemented nationwide. This, the minister said, was to ensure that buyers of agricultural commodities derive the maximum value for their money and sellers get the correct amount for their products. He said the National Council on Industry, Trade and Investment, had its last meeting held at Ado-Ekiti in November 2021, approved the measures, which would be implemented after the conclusion of the required processes. The minister disclosed this during the commemoration of 2022 World Metrology Day, themed: “Metrology in the Digital

Era,” over the weekend. He said metrology or the science of measurement had contributed immensely to the economic and social development of society. He said, “In the economic space, accurate measurement ensures accountability in the determination of the quantity of mineral resources produced in the country; ensures that the quantity of goods and products purchased by consumers are accurate and just; ensures consumers protection and safety in the aviation sector and ensures that the amount of active ingredients in medicines are accurately determined for the safety of lives and well-being of users.” Adebayo, therefore, stressed need for accurate measurement in aviation, trade, health, oil and gas production, power, transportation, water, banking, telecommunication, food process-

ing among others had become inevitable if the country must move forward. He noted that the adoption of the theme for this year’s World Metrology Day could not have been more appropriate considering the digital revolution experienced in the past two decades. According to him, digital technology has affected positively the way business is conducted. Speaking with THISDAY, however, Director, Weights and Measures Department, Mr. Hassan Ejibunu, said, “We want the whole world to know about legal metrology because legal metrology has not been known in Nigeria and we have been in existence since 1962. He said the decision to take the markets was to ensure that henceforth people are not cheated in the process of buying and selling.

L-R: President of Nigerian Optometric Association (NOA), Dr. Obinna Awiaka; Group Head, Health Finance, Sterling Bank Plc, Ibironke Akinmade; Vice President NOA, Dr. Ogechi Nwokedi and Health Finance Manager, Sterling Bank Plc, Obiora Ezike at a signing of Memorandum of Understanding (MoU) between Sterling Bank and NOA in Lagos... recently

Opara Sworn in as CIBN President

MARKET INDICATORS

Nume Ekeghe

MONEY AND CREDIT STATISTICS

Dr. Ken Opara has been sworn in as the 22nd President/ Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN). Opara took over the CIBN leadership on over the weekend in Lagos from Dr. Bayo Olugbemi his predecessor and promised to transform and move the institute to greater heights. He promised that he would ensure the institute’s primary business shaped the future of financial intermediation. He crafted the strategic focus of his administration in the next two years into the acronym “FUTURE”. Opara, who is also the Executive Director in charge of the

Lagos & Southwest Directorate, Fidelity Bank Plc had served as the First Vice President and Chairman, Board of Fellows and Practice Licenses at CIBN. Opara in his acceptance speech paid tributes to the founding fathers of the Institute who sacrificed and contributed immensely to its growth and development over the years. Opara said: “Our strategic focus is crafted into an acronym “FUTURE” which focuses on six key strategic pillars: Financial innovation and transformation, Dealing with industry Uncertainties, Trade and finance collaboration. Others are: Unveiling pathways for membership growth, Reengineering and Rebranding the industry’s business model around Gen Z and

Ethical conduct and governance.” A former Deputy Governor of the Central Bank of Nigeria (CBN) and Chairman of the occasion, Mr. Ernest Ebi gave the charged the Independent Electoral Commission and other stakeholders to copy the transition of power within the, CIBN, through its peaceful elections. Ebi pointed out that peaceful elections will amount to economic growth and development. In a good will message, Governor Babajide Sanwo-Olu of Lagos State, represented by Lagos state Commissioner for finance, Dr. Rabiu Olowo, applauded the numerous contributions of the banking industry in different areas of the country and Lagos in particular, through the leadership of CIBN.

‘Leaders Must Subject Themselves to Corporate Governance’ Nume Ekeghe ËØÎ Oluchi Chibuzor The Chairperson, Stanbic IBTC Bank Plc, Ms. Sola David Borha has urged women across boards to embrace corporate governance and subject themselves to their organisation’s policies in other to rise above bias in today’s world. She stated this at the bank’s webinar held recently, with the theme; “Rising Above Bais: Excelling in Career and Improving Your Personal Brand,” which attracted participants virtually,

where she noted that when fear is conquered one rises above bias both in the private and public sector. Motivating women, Borha stressed that they must not allow fears of failure to immobilise them towards accepting responsibilities. According to her, women must learn to embrace tasks irrespective of their competence or skill by deliberating and accepting challenges in whatever professions they find themselves in. She maintained that her previous experiences pushed her to accept a role that would have

literally passed her. Recounting lessons she learned from some notable women in the world, who one way or the other could not attain their desired goal due to some mistake they committed, noted that it should spur other rising career women to reflect on. She said: “It is important we must learn from other women who have made mistakes that cost them careers Because it is easier to learn from other people’s experiences than to make your own mistakes.”

Advans La Fayette MFB Unveils Education Loans Nume Ekeghe Advans La Fayette MFB Limited, a leading microfinance bank supporting small businesses, and a member of Advans Group has launched education loan products to assist school owners and parents respectively to run their schools and pay school fees with ease. The new products are Advans Boost, comprising of Advans School Boost and Advans Eduloan. Advans School Boost is designed to provide working and investment capital for school owners while Advans Eduloan is to assist parents to pay their children’s school fees with ease.

The third product is the Advans Kiddies, which is a high-yield savings account to help parents save towards the future of their children while still earning interest. In his welcome remarks at the launch and Stakeholders’ Engagement event in Lagos recently, the Managing Director, Advans La Fayette MFB Limited, Gaëtan Debuchy, said: “We recognized that lack of finance is one of the biggest banes of education. Emboldened by the fact that investment in quality education yields the best dividend, we created these products to offer solutions to the challenge. As

a leading microfinance bank, we are focused on providing premium financial services to our customers.” Speaking at the event, the Project Manager, Advans La Fayette MFB, Fanny Belhomme, said, “Advans School Boost allows school owners to access loans up to 75 million Naira to cover school expenses. The loan has a very competitive interest rate, a flexible repayment plan and no hidden costs. The Marketing and Communication Manager, Advans La Fayette MFB, Kayode Abraham further added: “The process of accessing the education loans is neither rigorous nor daunting.

(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 WEDNESDAY MAY 18, 2022

The price of OPEC basket of thirteen crudes stood at $117.20 a barrel on Tuesday, compared with $113.07 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ˜ Ͱͱ˜ ͰͮͰͰ

NEM Insurance Shareholders Approve N0.22 Kobo Dividend Kayode Tokede The shareholders of NEM Insurance Plc have approved a dividend payment of N0.22 kobo for every ordinary share of N1 each payable in respect of the 2021 financial year. The resolution was passed at the 52nd Annual General Meeting (AGM) of NEM Insurance held in Lagos during the weekend.

The Group’s Profit After Tax (PAT) in the year under review was N4.448 billion compared to N5.084 billion in the previous year representing a decline of 12.5per cent. The parent company also recorded a decline of 12per cent in PAT over the preceding period. That is, N5.075 billion in 2020 against N4.440billion in 2021. This is majorly due to sharp decrease in fair value

P R I C E S MAIN BOARD

F O R DEALS

gain. The insurance company reported a Gross Premium of N27.8billion in 2021 as against N22billion generated in the preceding year 2020; an increase of 26per cent. The Net Premium earned during the period under review was N19.3 billion and 23per cent increase over the preceding period of 2020 which recorded N15.8 billion.

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

QUANTITY TRADED

VALUE TRADED ( N )

Speaking to shareholders at the AGM, the Chairman NEM Insurance, Dr Fidelis Ayebae noted that gross claim by the insurance company was at N11.6billion in 2021 an increase of 26 per cent from N8.4billion reported in 2020. He noted that, “In the same vein, the Net Claims expenses of N5.6billion incurred in 2021 was nine per cent lower than that of the preceding period

T R A D E D MAIN BOARD

A S

which recorded N6.05billion. “The Net Claims ratio for the period under review was 20per cent as against 27% in 2020 due to good claims recovery during the period under review.” He said that, “the company scaled through the hurdle of the rising inflation, insecurity, climate change, Russia/ Ukraine war, hike in fuel pump price, unstable labour

O F

market and new waves of COVID-19 during the year whilst expressing certainty that the company would continue to record enhanced performance.” “As the situation continues to be very dynamic, the company has been working diligently to assess the potential risks posed by COVID-19 to its business on an ongoing basis and to realign its strategies accordingly.

2 0 / 0 5 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

MONDAY MA Y 23, 2022 • T H I S D AY

MONDAY, MAY 23, 2022 • 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 19May-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 8.32% AIICO Balanced Fund 3.76 3.83 6.29% 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 4.48% Anchoria Equity Fund 157.21 159.03 12.90% Anchoria Fixed Income Fund 1.20 1.20 4.89% info@anchoriaam.com 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 23.36 24.07 15.18% ARM Discovery Balanced Fund 521.52 537.24 15.59% ARM Ethical Fund 44.32 45.66 13.77% ARM Eurobond Fund ($) 1.06 1.06 -2.02% ARM Fixed Income Fund 1.04 1.04 2.40% ARM Money Market Fund 1.00 1.00 6.01% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.3 105.3 8.17% AVA GAM Fixed Income Dollar Naira 1,106.59 1,106.59 10.66% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.12 2.12 8.57% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.43 2.48 31.28% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund 1,005.75 1,005.75 3.45% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 3.14% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 6.79% Paramount Equity Fund 21.14 21.53 21.22% Women's Investment Fund 157.84 159.78 11.15% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.79% Cordros Milestone Fund 139.33 140.19 11.56% Cordros Dollar Fund ($) 109.43 109.43 5.14% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A 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 4.36% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 5.07% EDC Nigeria Fixed Income Fund 1,155.90 1,167.14 -0.82% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1452.28 1452.28 10.47% FBN Balanced Fund 200.65 202.16 14.49% FBN Halal Fund 119.65 119.65 9.20% FBN Money Market Fund 100.00 100.00 5.80% FBN Dollar Fund (Retail) 123.76 123.76 5.16% FBN Nigeria Smart Beta Equity Fund 175.88 178.23 15.02% 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 1.00 1.00 5.98% Legacy Debt Fund 3.97 3.97 -0.79% Legacy Equity Fund 2.02 2.06 16.34% Legacy USD Bond Fund 1.22 1.22 1.46% 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 Balanced Fund Coral Income Fund Coral Money Market Fund

4,362.50 3,550.80 100.00

4,431.06 3,550.80 100.00

32.03% 6.24% 6.24%

FSDH Dollar Fund 1.10 1.10 3.71% 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 4.66% Vantage Balanced Fund 3.17 3.24 18.15% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 140.23 140.23 2.34% Vantage Equity Income Fund (VEIF) - June Year End 1.37 1.41 15.18% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 4.12% 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 1.59 1.61 11.76% Lotus Halal Fixed Income Fund 1,159.58 1,159.44 3.47% 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 N/A N/A N/A Meristem Money Market Fund N/A N/A N/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.65 101.65 6.63% Norrenberger Money Market Fund (NMMF) 100.00 100.00 7.41% 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 1.75 1.78 10.78% PACAM Fixed Income Fund 11.39 11.41 1.90% PACAM Money Market Fund 10.00 10.00 6.62% PACAM Equity Fund 1.61 1.62 12.93% PACAM EuroBond Fund 116.39 119.23 2.20% 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 135.48 138.93 11.09% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 9.25% 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 3,854.59 3,900.62 12.01% Stanbic IBTC Bond Fund 238.67 238.67 1.25% Stanbic IBTC Ethical Fund 1.57 1.60 21.92% Stanbic IBTC Guaranteed Investment Fund 319.76 319.76 2.05% Stanbic IBTC Iman Fund 289.34 293.72 19.53% Stanbic IBTC Money Market Fund 1.00 1.00 3.67% Stanbic IBTC Nigerian Equity Fund 13,141.70 13,330.85 18.32% Stanbic IBTC Dollar Fund (USD) 1.32 1.32 1.81% Stanbic IBTC Shariah Fixed Income Fund 118.38 118.38 1.21% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 109.26 109.26 2.61% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.13 1.16 21.93% United Capital Balanced Fund 1.58 1.61 16.25% United Capital Wealth for Women Fund 1.27 1.29 16.47% United Capital Sukuk Fund 1.10 1.10 2.81% United Capital Fixed Income Fund 2.01 2.01 2.53% United Capital Eurobond Fund 124.79 124.79 2.00% United Capital Money Market Fund 1.00 1.00 5.78% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 14.54 14.69 10.29% Zenith ESG Impact Fund 16.73 16.93 14.59% Zenith Income Fund 22.60 22.60 2.61% Zenith Money Market Fund 1.00 1.00 5.50% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 4.26 4.36 6.03% Vetiva Consumer Goods Exchange Traded Fund 6.86 6.96 17.21% Vetiva Grifﬁn 30 Exchange Traded Fund 20.90 21.10 18.07% Vetiva Money Market Fund 1.00 1.00 5.33% Vetiva Industrial Goods Exchange Traded Fund 22.84 23.04 14.20% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 152.58 154.58 -3.27%

REITS NAV Per Share

Yield / T-Rtn

122.16 53.16

1.62% 0.82%

Bid Price

Offer Price

Yield / T-Rtn

16.51 155.71 123.57 25.04 23.31

16.61 159.53 126.26 25.14 23.41

17.97% 18.28% 19.24% 0.00% 0.00%

NAV Per Share

Yield / T-Rtn

107.55

12.10%

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 MERGROWTH ETF MERVALUE ETF

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

T H I S D AY • MONDAY, MAY 23, 2022

NEWS

ALL FOR AFRICA MAGIC… L-R: Chief Executive Officer, Most Influential People of African Descent (MIPAD), Kamil Olufowobi; Global Director of Content, MIPAD, Toyosi Etim-Effiong; Hollywood Actress, Tasha Smith; Hollywood Producers, Sidra Smith and Grant Housley; Chief Executive Officer, MultiChoice Nigeria, John Ugbe; United States Ambassador to Nigeria, Mary Beth Leonard; and Executive Head, Content and West Africa Channels, Busola Tejumola during a visit to the US Consulate in Lagos as part of activities for the recently concluded 8th Africa Magic Viewers' Choice Awards. Editor’s Note: This photograph appeared on the front page of THISDAY edition of Friday, March 20, wrongly stating it was taken at the Africa Magic Viewers' Choice Awards (AMVCA) ceremony. We have since been notified that it was actually taken at the US Consulate as part of activities leading to the ceremony. The mixup is regretted.

Perish Your Tenure Elongation Plot, PDP Slams APC Accuses Ruling Party of Planning to Stall 2023 Elections Chuks Okocha in Abuja The Peoples Democratic Party (PDP) has warned the ruling All Progressives Congress (APC) to perish the thoughts of subverting the electoral process as part of its desperation to elongate its tenure

beyond May 29, 2023. "Our party cautions the APC to note that its plans have been exposed and that Nigerians will never allow it to perpetrate its misrule through an orchestrated tenure elongation," stated the opposition party.

The party alerted Nigerians of the plot by the APC to use orchestrated insecurity and political uncertainties to derail the electoral process, stall the 2023 general election and create a situation to justify a tenure elongation.

"There are revelations that desperate APC leaders are behind the delay by President Muhammadu Buhari in signing the amendment to the Electoral Act 2022 so as to frustrate the smooth conduct of primaries by political parties and derail the

Edo PDP Divided as Party Conducts Parallel Primaries for State Assembly, House of Representatives Candidates Adibe Emenyonu in Benin City The division in the Peoples Democratic Party (PDP) in Edo State reared its head yesterday as the party reportedly conducted parallel congress to elect candidates to fly its flag for the House of Assembly and House of Representatives. The parallel elections were conducted by the two factions loyal to Governor Godwin Obaseki and the supporter of the party Vice Chairman, South-South, Chief Dan Orbih. Findings revealed that parallel primaries took place in almost all the local governments except Ikpoba-Okha, Egor, Oredo in Edo South Senatorial district.

For instance in Oredo local government area which has two constituency seats for the State House of Assembly and one seat in the House of Representatives, Sunny Aguebor emerged as the House of Representatives candidate while Dr. Aisosa Amadasun emerged as the House of Assembly candidate for Oredo West and Uyi Omosigho for Oredo East constituency. In Egor and Ikpoba-Okha, Henry Okhuarobo emerged as the House of Assembly candidate while Natasha Osawaru clinched the ticket for Ikpoba-Okha and the ticket for Egor/Ikpoba-Okha federal Constituency went to Jude Ise-Idehen. But in Edo Central, where

Speaker of the State House of Assembly, Marcus Onobun, an acolyte of Obaseki emerged as the candidate for House of Representatives for Esan West/ Esan Central/Igueben Federal Constituency, there was a parallel primary election held by the Orbih-led group. It was the same result in Edo North as Obaseki’s men including former Speaker, Kabiru Adjoto emerged as House of Representatives candidates for Akoko-Edo federal constituency while former deputy speaker, Yekini Idaiye and current Commissioner for Community and Chieftaincy, Donald Okogbe emerged as candidates for House of Assembly for Akoko-Edo

Constituency I and II respectively. In Owan Federal Constituency, Hon Jimoh Ijegbai emerged as the candidate for the House of Representatives while Blessing Agbebaku emerged as the candidate for Owan West for the House of Assembly. The Commissioner for Information, Adaze Ewanta described the exercise as a free and fair and denied report of parallel congress. “Here in Egor, this is the designated place for the primary. All the security agencies are here as you can see so I am not aware of any primary,” while Ise-Idehen said his nomination for Egor/ Ikpoba-Okha federal constituency was for him to do more.

A P C P O ST P O N E S S C R E E N I N G O F P R E S I D E N T I A L AS P I R A N T S Minister of State, Education, Hon. Emeka Nwajiuba; former Senate President, Senator Ken Nnamani; Kogi State Governor, Yahaya Bello; Jigawa State Governor Abubakar Badaru; former Zamfara State governor, Sen. Ahmed Yerima. The aspirants also include: Senator Ajayi Borroffice; the only female aspirant, Mrs. Uju Kennedy; Pastor Nicholas Nwagbo; former Speaker of the House of Representatives, Hon. Dimeji Bankole; Senate President, Dr. Ahmed Lawal; former Minister of Information, Chief Ikeobasi Mokelu and Mr. Tein Jack Rich. Meanwhile, Senate President, Dr. Ahmad Lawal, has said his mission in Kano was to interact with the party delegates on his presidential bid ahead of the primaries and therefore pleaded with them to swing their votes in his favour. Lawan spoke on Saturday night, while visiting the state to interact with delegates ahead of the 2023 primaries for his Presidential

ambition. According to him, "I'm here to see and interact with all the 500 delegates from Kano State and I cannot agree more with my leader, when he said this is the largest subnational democracy in Nigeria. I imagine that it could also be the largest subnational democracy in Africa. "When His Excellency, our governor was rounding up his speech, he said Kano is a swing state and it can determine not only the primaries, with 500 delegates, but also the general election. “Your Excellency, it will swing to my side by the Grace of God. I want all the 500 delegates. In Fact, I need all the 500 delegates, Your Excellency. If I can't have the 500, please let me have at least 400.” Ganduje, on his part, assured the Senate President of "full cooperation," over his presidential ambition. In a related development, the Ahmad Lawan Presidential

Campaign Organisation, yesterday said the Senate President had not dumped his presidential ambition contrary to reports in some sections of the media. A statement by the spokesperson of his campaign team, Mr. Iyke Ekeoma, in Abuja, dismissed the possibility of Lawan running for another term in the Yobe East Senatorial District. The statement specifically refuted reports of the Senate President, withdrawing from the presidential race to pursue another term in the senate Ekeoma said Lawan had encouraged his supporters not to entertain fear as he was working tirelessly to emerge the presidential candidate of the APC. He described as mischief, the reports that he had withdrawn from the race. Ekeoma also noted that those who planted the report were jittery of Lawan's political popularity, regional acceptance and dominance

in political space. He said the fake report was created to cause confusion. Part of the statement read: “Nigerians should ignore the sponsored lies by some aspirants to distract the Senate President, Dr. Ahmad Lawan from his quest to succeed President Muhammadu Buhari in the next presidential election. “Contrary to their unnecessary fabrications against the nationally accepted Presidential ambition of Senator Lawan, we restate for the pleasure of progressive Nigerians that the falsehood trending currently in the Social Media that Senator Lawan had dropped his ambition to run for another term in Yobe East Senatorial zone is false. “It is understandable that Lawan’s entrance into the presidential race to compete against 25 other aspirants has become the major discussion as his entrance has changed the political dynamics of the nation.

entire electoral process," said PDP in a statement by its National Publicity Secretary of PDP, Debo Ologunagba. "It is not surprising to the PDP that Mr. President was again 'absent' having travelled to the United Arab Emirates and abandoned his constitutional duty of signing the crucial amendment to the Electoral Act." It added, "This attitude of Mr. President to an issue that is critical to our electoral system is consistent with APC’s plot to cause confusion in the polity, orchestrate an unconducive environment for elections, stall the 2023 general elections and achieve a rumoured third term agenda." The opposition party said the regularity of the electoral process and the confidence of the people in the certainty of timelines and outcomes of elections are the hallmarks of democracy, which the APC has been dislocating apparently with the view to undermining the electoral process. "It is clear that the APC has already commenced this ignoble plot with its desperation to use the Court to overthrow the outcome of the FCT Area Council election

held on Saturday, February 12, 2022, which was overwhelmingly won by candidates of the PDP, halt the swearing-in of the newly elected Chairmen and Councilors and impose an undemocratic government in the FCT," the statement further noted. The PDP also expressed concern about the alleged APC’s plot to deploy underhand methods to subvert elections in 2023 where they do not favour APC candidates. "It is now clear that the APC administration has been compromising our security system, opening our nation up to attacks and permitting shared sovereignty with terrorists over large portions of the territory of the Federal Republic of Nigeria, apparently to further orchestrate a security situation that will justify the stalling of elections in 2023," claimed PDP. "This probably explains why President Buhari has failed to confront terrorists, contrary to his promise to lead the fight against terrorism from the front and why he remains 'absent' and 'weak' as terrorists pillage our citizens in various parts of the country."

2023: PDP Conducts Peaceful State Assembly, Reps Primaries in Enugu Peoples Democratic Party's National Working Committee's electoral committees for the conduct of the state House of Assembly and the House of Representatives primary elections in Enugu have expressed satisfaction, describing the polls as peaceful and transparent. Yesterday, the two electoral committees commended Governor Ifeanyi Ugwuanyi for galvanising the delegates in displaying utmost commitment, discipline and comportment during the peaceful exercises. Speaking at Udenu Local Government Area, where Hon. Solomon Onah was unanimously elected as the party’s candidate for Udenu Constituency in the House of Assembly, the Chairman of the PDP National Electoral Committee, Barr. Uche Igbokwe, lauded the electoral process of the primary, expressing delight at the presence

of the officials of the Independent National Electoral Commission (INEC) at the event. In Nsukka LGA, where the primary elections for Nsukka East and Nsukka West constituencies were held, Igbokwe also commended the exercise. Led to the venue of the primary election by the PDP Deputy Chairman in Enugu, Hon. Innocent Ezeoha, and the state's Organising Secretary, Dr. Christian Iyiani, the committee applauded the delegates for being orderly. In Enugu East LGA, the parliamentary primary committee commended the process. Supervising the House of Representatives primary elections in Enugu, the National Electoral Committee led by Hon. Aminu Koko described the exercise as peaceful, transparent and credible. Koko expressed satisfaction with the primary.

T H I S D AY • MONDAY, MAY 23, 2022

NEWSXTRA

TINUBU IN BORNO IN PURSUIT OF HIS LIFELONG AMBITION... R-L: Borno State Governor, Prof. Babagana Umara Zulum; Shehu of Borno, Alhaji Abubakar Ibn Umar Garbai El-Kanemi; All Progressives Congress National Leader and top Presidential Aspirant, Asiwaju Bola Ahmed Tinubu; former governor of Borno State, Senator Kashim Shetima, former governor of Nasarawa State, Senator Tanko Al-Makura, when Asíwájú visited the Shehu of Borno's palace in Maiduguri, Borno State, on the sidelines of his meeting with APC delegates...yesterday

2023: With You, Everything will Work, Yahaya Tells Amaechi Buratai woos Zulum, Borno delegates for ex-minister We’re waiting for Buhari’s instruction, says Zulum Gombe State Governor, Alhaji Inuwa Yahaya, weekend, said with the former Minister of Transportation, Chibuike Rotimi Amaechi, as President, Nigeria would be a better place for all. The governor said, having been in public office over the years with impeccable achievements, Amaechi would deploy his wealth of experience to piloting the affairs of the country to greater heights. Speaking at a meeting with delegates at the Government House, Yahaya said, "Going by the trajectory on which your life is built, from Speaker to Governor and to Minister, and if you get to that level that you are aspiring to get to, that means everything is settled. “You have shown capacity, you've shown energy and passion and you

have shown the capacity to deliver on any assignment or political mandate that is given to you. Our delegates, knowing how you handled the previous assignments given to you and the capacity that you have proven to have, will give them the cause and confidence to go with you, because we know with you, everything is settled. “Gombe is your second home. You stood to fight and brought in Mr. President, and by so doing you’ve shown commitment, you’ve shown capacity. "Gombe State is ready for you. These array of supporters that you see here are delegates. So, I make bold to say as the leader of this party, that these delegates that you see here are speaking with one voice and they know you have the capacity to deliver.”

Again, Reps Minority Leader, Elumelu Wins PDP Ticket

Similarly, Chairman of the party, Nite Amangal, said there was no doubt the former minister would deliver on good governance if given the opportunity due to his experience in public office. "Your Excellency, Gombe is your second home. The delegates of Gombe will speak with one voice, and we know you have the capacity and experience to be the President of Nigeria. We pray that God will lead you through to be on the seat by 2023,” he said. Amaechi, while addressing the delegates, assured them that if elected President, he would complete the Port Harcourt-Maiduguri rail line, which goes through Gombe. “Vote for me, so that I can fly the party's flag and become the President of the country. If you support me, if you vote for me, rest assured that I will deliver. I am not from the North, I am not from the South, I am not from the East, I am not from the West, I am

from Nigeria. It simply means that I will represent you, whether you are a Christian or Muslim. "Take the assurance that I understand the pains of poverty, get the assurance that I will bring my wealth of experience to bear. The federal government has approved the contract for the Port HarcourtMaiduguri railway. “It has been awarded, the contractor is on site. I hope they will continue to pursue the loan the way I was doing before I resigned. If they don't complete that project, when I become President, rest assured that I will complete it,” Amaechi stated. Meanwhile, a former Chief of Army Staff (COAS), Lt Gen. Tukur Yusuf Buratai, has urged the the Borno State Governor, Professor Babagana Zulum and delegates from the state to vote for Amaechi to emerge as the party’s standard bearer for the 2023 presidential election.

Buratai, who is now Nigeria’s Ambassador to Benin Republic, said Amaechi was one Nigerian that could change things for good in the country, if given the opportunity to serve as President. Speaking at a consultative meeting with Amaechi, Zulum, leaders and delegates of the APC in Maiduguri, Borno, yesterday, Buratai narrated how Amaechi as Governor of Rivers State, succeeded in curbing militancy, kidnapping and others forms of criminality, restoring sanity to the state within few months of assuming office. The former COAS, who was then Brigade Commander of the Nigerian Army in Rivers State, said he saw in Amaechi the resilience and determination to do things right, urging the governor and delegates to give him all their votes and see for themselves the change that would occur when Amaechi gets the ticket and eventually becomes president. “Your Excellency, we will not

share any votes. Give hundred per cent of your votes to Rt Hon. Rotimi Amaechi, and I will tell you the reasons why. Here with us is the man of the moment, who is ready to serve, and has shown the determination in his exploits and his experience over the years, as Speaker, as a Governor and as Minister. He has led his peers –governors – twice. He has also led his colleagues in parliament as Chairman, Conference of Speakers twice. “He has that experience and very importantly he has remained loyal to President Muhammadu Buhari. On two occasions, in 2015 and 2019 as campaign Director General, he delivered President Muhammadu Buhari. “You know the history of Borno, we have always gone along with the winning team. Do not follow any other person apart from Amaechi, who is here. We must align ourselves with Amaechi; we must be with the man of the moment,” he said.

Okowa's daughter, Anyafulu pick assembly tickets BLASPHEMY NOW NEW PLOY TO KILL CHRISTIANS, CAN ALLEGES them to kill their fellow human be tried under any existing laws Uduaghan's daughter fails Assembly bid in Warri North Church, Nukkai, Jalingo in Taraba without any protest march. state, said some persons have CAN President, Rev. Samson beings under religious guise." that approximate hate rhetoric, Ibori’s daughter, Igbakpa tie in House of Reps seat contest become fanatical and aggressive Ayokunle, had in a statement incitement to murder and abuse

Omon-Julius Onabu in Asaba The Minority Leader, House of Representatives, Ndudi Elumelu has secured a return ticket as candidate of the Peoples Democratic Party (PDP) for a third term to represent the Aniocha/Oshimili Federal Constituency. Elumelu yesterday polled a total of 80 votes out of the total votes cast by 132 delegates during the House of Representatives primary elections held in Asaba, Delta. Also, Governor Ifeanyi Okowa's daughter, Marilyn Okowa-Daramola and former Commissioner for Child's Rights Matters under the Okowa administration, Bridget Anyafulu, yesterday emerged among successful candidates out of the handful of female aspirants that contested different tickets for Delta State House Assembly on the platform of the Peoples Democratic Party (PDP). Okowa's daughter, who is a lawyer, won the party's ticket for Ika North-East while Anyafulu, a lawyer and journalist, won that

for Oshimili South constituency. However, attempt by Orode Uduaghan, daughter of former governor, Dr. Emmanuel Uduaghan was unsuccessful as she could only garner seven votes in the primary election for the Warri North state constituency won by Fred Martins, who scored 25 votes to beat the other contestants. Erhiatake Ibori-Suenu, Daughter of former governor James Ibori and the incumbent, Ben Igbakpa, reportedly tied in a fiercely contested primary election for the Ethiope (Ethiope West and Ethiope East) federal constituency forcing the party to withhold declaration of results of the exercise. Mrs. Shimite Bello, a visible figure in the Okowa’s administration, also failed in her attempt to clinch PDP’s ticket for Oshimili North as she was beaten by Frank Esenwah. The immediate past Commissioner for Works, James Augoye, won the ticket for Okpe constituency while Bernard Odior won the Isoko North PDP ticket.

about religion due to ignorance. “We must make the distinction between essentials and nonessentials in religion. The Apostles made it clear to the entire body of Christ that true religion is that which lives according to the dictates of the spirit of truth. "Hence, while it acknowledges the importance of religious traditions, norms and practices, it is above all concerned with the meaning or the spirit behind the worship that we offer to God. "In the different religions we have always witnessed the presence of certain individuals who are out to distort the message of their scriptures with falsehood, tainted by crass ignorance or fanatical aggression," he said. Kaigama enjoined Christians, to amidst the world’s confusion listen to the voice of the Holy Spirit and allow it to guide them. The tempo of the protest was however affected by the last minute change of plan for the protest by CAN as most of the churches observed their normal services

on Saturday, directed Christians not to assemble for protest at the association’s headquarters as previously scheduled due to possible clash with some Muslim groups. In his statement, to the Church/ Denominational leaders, CAN president had urged them to: “Observe the peaceful protest in your church. You are all aware that some Muslims had sent out information that they were going to counter our peaceful protest on Sunday, May 22. Their intention is to cause chaos and attribute it to us. "In view of the foregoing, I urge you all to do the protest of placard carrying within the premises of your local churches or your CAN Secretariat. "However, where it is unsafe to do the protest in the premises of your church or CAN Secretariat, you may carry the placards inside your church and pray for justice for Deborah Samuel who was wickedly and extra judicially slain. Pray as well for a change of heart for the wicked who find it convenient for

Soyinka Calls for Sack, Trial of Imam for Justifying Killing of Deborah In a related development, Nobel Laureate, Prof. Wole Soyinka has called for the removal from office and trial of the Imam of the National Mosque, Abuja, Prof Ibrahim Maqari for justifying the killing of Deborah over alleged blasphemy. Speaking at the weekend in Abuja, during the one-year remembrance of the late former Chief of Army Staff, Lt.-Gen. Ibrahim Attahiru, Soyinka said Maqari should be sacked with immediate effect, labelling the Imam an “apostate of the creed of humanity.” Soyinka, whose speech was titled: “In Time Of Crisis: Civilian and Soldier,” said by his comment, Maqari directed his followers to take the law into their own hands in the name of religion. He said: “The Grand Seer of Abuja mosque should be hounded from office. He should

of office. It is no longer sufficient for all to declaim that Islam is this and that, that the Sharia is thus and thus, that Prophet Mohammed set this or that example and made this or that humanistic pronouncement. We have gone beyond theocratic rhetoric that merely pays lip service to civilised norms. Let all pietistic denunciations be backed by affirmative action.” According to the playwright, the Islamic cleric had done nothing but encourage his followers to kill anyone that blasphemes Prophet Muhammad. “Prof Maqari, however, insists, with a handful of others including vocal serving policemen quite recently that there is no remorse involved in the torture and lynching of a young student on this earth. “Maqari has implicitly directed his followers to take the law into their own hands in the name of religion, and innovation. That is the message of a supposedly holy man to a nation embroiled in his madness of multiple incidences,” he said.

T H I S D AY • MONDAY, MAY 23, 2022

NEWSXTRA

GOVERNOR OF THE YEAR... L-R: Former governor, Akwa Ibom, Obong Voctor Attah; Deputy Governor of Ogun State, Noimot Salako-Oyedele; winner of the Vanguard Governor of the Year Award, Dapo Abiodun and one of his predecessors, Olusegun Osoba at the Awards Night in Lagos ...weekend

Banditry: 13,500 Katsina IDPs Taking Refuge in Niger Republic Masari, UNDP parley on education for orphans Earmark N100m for rehabilitation Francis Sardauna in Katsina The Katsina State Governor, Aminu Bello Masari, has said some 13,500 people sacked by terrorists from their ancestral homes in Shinfida community of Jibia Local Government Area of Katsina State, were currently taking refuge in neighbouring Niger Republic. He added that although some of the internally displaced persons (IDPs) had started returning to the ruined community, many were still refugees in

neighbouring communities in Niger Republic. Masari, who disclosed this yesterday while in an audience with the Governor of Ekiti State and APC presidential aspirant, Dr. Kayode Fayemi as well as delegates of the party in the state, at the Government House, Katsina, said the affected persons had lost their means of livelihood. He told Fayemi, who was in the state to solicit the support of the delegates ahead of the party's presidential primary, that

the critical and urgent need of the state was the rehabilitation of the rural economy of the most affected victims. The governor lamented that residents of the state, particularly, those living in 13 local governments that bordered Rugu forest, covering Katsina, Zamfara and Kaduna States, had suffered severe attacks and killings by the terrorists. He, however, said the state government was spending over N100 million on the rehabilitation of the Shinfida community and restoring peace and normalcy,

declaring that the hoodlums had completely sacked the community. Masari also noted that the state government in collaboration with the United Nations Development Programme (UNDP) would prioritise the education of the banditry-orphaned children and widows across the frontline local governments of the state. He reiterated that his government and the UNDP would ensure compulsory and free education of each orphan from primary to secondary level

while providing the widows financial support to start local business that would make them self-reliant. "We have completed a census of all women, who lost their husbands. We have the list of all the orphans, widows and the destroyed houses. We already started work with UNDP, who are coming in to help in some of the areas particularly, education of the orphans. "Currently, we are spending over N100 million to rehabilitate Shinfida village, which was sacked and burnt by bandits

that forced 13,500 people to move to Niger Republic. I have to suspend everything and meet the political leadership of those communities. "We have sent food to them, and we have started bringing them back. The military are back in Shinfida. When the Shinfida people left, the bandits burnt the village and vandalised everything. Critical to us is the security and rehabilitation of those villages and communities, restoring their economic way of life and providing basic education," he stated.

EFCC Warns Politicians Against South-east APC Presidential Aspirants Meet in Using Its Name to Campaign Abuja, Vow to Support Party’s Favourite from Region located at Otigba and Zik Avenue Kingsley Nwezeh in Abuja The Economic and Financial Crimes Commission (EFCC) has warned politicians to play by the rule and desist from dragging the agency into the political arena. The warning followed the arrest of an outdoor advertisement executive over political advertisements that appeared on two billboards in Enugu bearing the name and logo of the EFCC. "Politicians (are urged) to play by the rule and refrain from dragging the EFCC into the political fray. It reiterates that apart from issues of economic and financial crimes which fall within its purview, the commission has no role in the political process and should not be distracted," the EFCC said in a statement. The anti-graft agency said the two super 48 sheet billboards

Junctions in Enugu bore offensive messages using the name of the EFCC to threaten the aspiration of some politicians in the state in the build-up to the 2023 general elections. One of the messages stated, "2023: Enugu PDP Learn from 2007 election… EFCC is Coming with Koboko on corrupt candidates." The commission said following credible intelligence received by the commission, EFCC operatives on Saturday arrested the alleged billboard designer, Baron Nnamdi, printer and owner of the billboards hosting the offensive political campaign messages. He said he was contracted by the media aide to a former Enugu deputy governor with governorship ambition, revealing he was N160,000 for the job. The EFCC disclosed that it had pulled down the billboards.

Emmanuel Addeh in Abuja

Presidential aspirants of Southeast extraction under the All Progressives Congress (APC) yesterday resolved to support anyone among them eventually selected as the party's candidate in the upcoming 2023 poll. The meeting which took place at the Abuja residence of former Governor of Imo state, Chief Rochas Okorocha, was chaired by the erstwhile Minister of Science and Technology, Ogbonnaya Onu. Others who attended the event included: Former Senate President, Ken Nnamani, former Minister of State, Education, Chukwuemeka Nwajiuba, Ikeobasi Mokelu and Mrs Uju Ken-Ohanenye, the only female APC aspirant. Although the Governor of Ebonyi State, Mr Dave Umahi was not physically present, Okorocha told journalists that he

had joined the meeting earlier via videoconference and was fully in alliance with the resolutions. A brief communiqué after the meeting read on behalf of the group by Nnamani, while lauding those who have wholeheartedly supported the aspiration of the South-east presidential hopefuls, stated that the aspirants were hopeful that the right thing will be done. “At its review meeting held today, the 22nd of May, 2022 at the residence of Senator Rochas Okorocha, under the chairmanship of His Excellency Ogbonnaya Onu, the aspirants agree to make the following statements: “That the president of the federal republic of Nigeria and the APC and its National Working Committee as well as the teaming members of the party are commended by the entire people of the South-east

on their avowed commitment to the unity of Nigeria and the inclusion of all parts of Nigeria in the governance architecture of the country. “That we commend all Nigerians who are committed to the Nigerian project by the wholehearted support of the aspiration of the south-east to produce the next Nigerian president in 2023. “That in furtherance of these commitments, all aspirants here commit to align with any of the south-east aspirants that is accepted by and chosen by other Nigerians to fly the APC flag,” the communiqué read. Speaking earlier KenOhanenye noted that she joined the group because every of such coalitions need the kind of motherly care which only a woman can give, noting that Nigeria currently lacks that kind of arrangement.

On his part, Nnamani stressed that being an election year with all its pressures, all journalists who are contributing to deepening democracy should be commended, promising that at all times politicians should give them factual and relevant information. In his short remarks, Okorocha stated that from the gathering, it was obvious that the Southeast parades some of the most brilliant human beings in the country. “It's obvious that the Southeast has some of the best hands to pilot the affairs of this country. It's the first time we are coming together like this and we are all lovers of this nation and we want Nigeria to hear all of us and do the needful. “In case you were in doubt, there's no division. We are one. In terms of exposure, the South-east has some of the best,” he noted.

SERAP Writes INEC, Seeks Political Parties’ Details of Financial Transactions Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged the Chairman of the Independent National Electoral Commission (INEC) Prof. Mahmood Yakubu to publish reports on the accounts and balance sheet of every political party submitted by the Independent National Electoral Commission (INEC) to the National Assembly since 2015. The All Progressives Congress (APC) recently collected N100

million for its presidential form while the opposition Peoples Democratic Party (PDP) collected N40 million for its presidential form for the 2023 election, with the political parties raking in billions of naira from the process. However, in a letter dated May 21, 2022, and signed by its Deputy Director, Kolawole Oluwadare, SERAP urged Yakubu to examine the books and records of financial transactions of political parties, and to make public the outcome

of any such examination. SERAP also urged him to provide details of the guidelines and steps that INEC was taking to prevent vote buying in the forthcoming elections in Ekiti and Osun states and the 2023 general elections, and to prosecute vote buyers and other electoral offenders. The organisation said Nigerians have the right to know about the accounts and financial transactions of their political parties, especially the major parties with a

strong possibility to assume government in the future. According to SERAP, transparency and accountability of political parties was important to achieve greater transparency in public life, curb the influence of money in politics, promote a level playing field, and remove the risks to the independence of political actors and would-be public office holders. The letter read in part: “When a political candidate decides to buy the support

of the people rather than contest fairly for their votes, there are possibilities that such candidate will show a disregard for democratic rules and a disposition to adopt illegal means becomes inevitable. “Vote buying and related electoral offences encourage poor governance and weaken citizens’ capacity to hold their elected officials accountable for their actions. “SERAP urges you to urgently take measures and to collaborate with appropriate

anti-corruption agencies to ensure the effective prosecution of any outstanding cases of vote buying and related electoral offences allegedly committed in the context of the 2019 general elections. “We would be grateful if the recommended measures are taken within 14 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel INEC to comply with our request in the public interest.”

MONDAY MAY23, 2022 ˾ T H I S D AY

NEWS

Jihadists Operating in the South-east, Group Alleges Kingsley Nwezeh in Abuja A human rights advocacy group, the International Society for Civil Liberties and Rule of Law, at the weekend raised the alarm that the pattern of killings in the south-east bore all the hallmarks of jihadists, alleging the strong presence of the group in the region. It further alleged that 200 defenceless civilians had been killed while property worth N16 billion were destroyed between January and April, 2022. The group said the killing and destruction of the property of Igbo people in Dei-Dei Timber Market in Abuja, Kano and Bauchi, were part of the orgy of violence unleashed on the ethnic group. It also accused security forces of failing to take necessary steps to contain the situation. A statement issued by Intersociety, said that, “not less than 200 defenceless civilians were killed between January and April, 2022, while 400 houses and other properties valued at N16 billion were destroyed in the south-east. “The security forces particularly soldiers and police have also in the past seven days (12th-19th May

2022) killed not less than 50 members of the defenseless civilian Igbo population, labeling them IPOB/ESN members.” It further alleged that, “the onslaught of the Nigerian

security forces on southeast lives and properties is atrociously and selectively perpetrated against members of the defenseless civilian population while turning blind eyes on real criminal entities

terrorising the innocent and defenseless civilian population of the region. “Among the real criminal and atrocious entities holding the region and its citizens and properties hostage are

Fulani jihadists, who have now laid permanent siege on Isikwuato, Uturu, Okigwe and Okigwe-Arondizogu and Okigwe-Umunze axis, among others”. The statement signed by

one of the Principal Officers, Mr. Emeka Umeagbalasi, said students, lecturers and travelers in the area were facing kidnapping and other terrorist activities almost on daily basis.

MENTORING THE YOUTHS…

L-R: General Secretary/CEO, The Bible Society of Nigeria (BSN), Pastor Samuel Sanusi; Founder, Mount Zion Faith Ministries, Evang. Mike Bamiloye; his wife, Gloria Bamiloye; General Overseer, Foursquare Gospel Church in Nigeria, Rev. Sam Aboyeji; his wife, Olabisi Aboyeji, and Group Managing Director, SystemSpecs, Mr John Obaro, during the maiden edition of the “Switch”, a non-interdenominational youth summit aimed at mentoring younger and upcoming ministers and leaders in Lagos… recently ABAYOMI AKINYELE

Use Your PVC to Vote Out Police Arrest Kidnappers of Chinese Contractor, 29 Others in Ekiti Failed Politicians in 2023, Onoja Tells Kogi Youths Victor Ogunje in Ado Ekiti

Ibrahim Oyewale in Lokoja

Piqued by the level of underdevelopment in Igala/ Bassa land, the President of Enemona Humanitarian Foundation, Gabriel Onoja, has urged Kogi East youths to mobilise against politicians who have failed in current positions from emerging during the 2023 general elections. In a statement signed by the Executive Director of the Foundation ,William Illah, a copy of which was made available to journalists in Lokoja, yesterday, he expressed regret over the

poor state of infrastructure in Kogi East Onoja was quoted to have said this while speaking at the First Igala National Youth Summit, with the theme: “The role of the youth in Kogi East development Agenda” held at Lagos, at weekend. Onoja, who was the guest of honour at the summit said, the zone would be developed, if only the youths could identify and work for the emergence of those with integrity, compassion and capabilities to effect sustainable development to the zone.

Nasarawa Female Aspirant Alleges Intimidation by Men Igbawase Ukumba inLafia A female aspirant for the seat of Akwanga/Nassarawa Eggon/ Wamba federal constituency, Mrs. Dorathy Gabriel, yesterday raised the alarm that she was under intimidation from men for contesting the House of Representatives seat of the constituency. Dorathy, who is aspiring to represent the federal constituency on the platform of the All Progressives Congress (APC), raised the alarm in Akwanga, when interacting with journalists.

She said: “Honestly, it has not been easy from the beginning up to now. Most of the men I solicit support from were not accommodating. They turned out to scaring me away from the race. In fact, there has been intimidation here and there from the men on me. “However, their intimidation is giving me more courage and determination to continue with my aspiration. In Nasarawa State at the moment, the percentage given to women in political activities is less than one percent.”

I’m Not for ‘Fire for Fire’ Politics, Says Osun Gov

Yinka Kolawole in Osogbo

Governor Adegboyega Oyetola of Osun State, has said he is not ready to engage in “fire for fire politics “ that some politicians have already declared ahead of the forthcoming July 16 governorship election in the state. Oyetola said that the desperation of some politicians in their campaign to engage in do-or-die politics was not in his character. He said decency should be the watchword in political space

rather than use of inciting words that can lead to unrest. The governor said this during an engagement programme with members of Osun Chapter of Young Farmers Association of Nigeria yesterday in Osogbo. Represented by his Special Adviser on Civic Engagement, Mr. Olatunbosun Oyintiloye, the governor said that he would rather engage in issue-based discussions regarding his achievements and prospects ahead, and will not involve in campaign of calumny.

The Police in Ekiti State have arrested a prime suspect, Samuel Omoyoyinbo, who allegedly led a criminal gang that kidnapped a Chinese expatriate and contractor handling the new Ado-Ado Iyin dualisation project in Ekiti State. Also arrested were 29 other suspects for offences relating to robbery, kidnapping, cattle rustling, motorbike stealing, among others. Parading the suspects in Ado Ekiti at the weekend,

the Police Commissioner(CP), Mr. Morounkeji Adesina, said Omoyoyinbo and his gang allegedly abducted the Chinese expatriate while working on the site on May, 2020. Adesina, represented by the Command’s Public Relations Officer, Sunday Abutu, revealed that on 29 March, 2022, at about 11pm, a gang of armed men numbering about six stormed Maxwell Hospital, Nova Road, Ado-Ekiti and robbed Dr. Ojo Emmanuel, Balogun Ahmed and other staff and patients in the Hospital of their belongings

such as mobile phones, laptop computers, and a sum of N50,000. Upon their departure from the Hospital, the CP revealed that the armed robbers also hijacked one Toyota Corolla car valued at N3 million. “Further investigation led to the arrest of one Lasisi Afeez and one itel phone belonging to one of the victims which was carted away from the scene of crime was found in his possession,” he said. The commissioner added further that during interrogation,

the suspect confessed to be among the armed robbers that robbed the hospital alongside one Omotoyinbo Samuel, Ajewole Peter and one Ladele, who is currently at large. “Investigation led to the arrest of Omotoyinbo Samuel in Lagos by the Command’s RRS operatives alongside his wife Omotoyinbo Omowumi. Omotoyinbo Samuel, who was the leader of the gang, confessed to the commission of the crime that took place at Maxwell Hospital, AdoEkiti.

Lagos APC Stakeholder Condemns Sham Congress,Warn against Imposition

Members of the All Progressives Congress (APC), Lagos State chapter has warned against sustaining the culture of imposition by claiming to have conducted any congress to elect “phantom delegates”. A leading stakeholder from Alimosho Local Government Council, Alhaji Gbolanhan Lawal, said: “Any congress that does not carry the entire party members along will not

be accepted in Lagos State, let us make this point very clear.” This is coming on the heel of a statement credited to Yesiro Kuramo, speaking on behalf of a faction of the party in Lagos. In the statement, which was circulated on social media, the Acting Publicity Secretary claimed to have conducted what he called “successful delegate congress” within

the Lagos axis and falsely claimed that the exercise had the blessing of people from the National Headquarters. He said: “We want to state categorically that this is not the era of past chairmen that were heavily compromised; this is the era of Senator Abdullahi Adamu, a man who has a track record of being upright and straight forward, adding that such a national figure with such

tremendous reputation cannot be easily corrupted.” Gbolanhan further explained: “We uphold the tenets of durable and enduring democracy; We do not subscribe to high handed measures employed to deny peaceful and loyal members of the party from enjoying dividends of democracy” stressing that they will not accept any result from this flawed process.”

NDLEA Uncovers 4.56kg Cocaine in Lawnmower Tyres Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA) have intercepted 24 parcels of cocaine concealed in 12 tyres of lawn mowers imported into the country through the Port Harcourt International Airport by a Brazilian returnee, Okechukwu Amaechi. Forty-five years old Amaechi,

has just finished serving his jail term for drug trafficking in the South American country. He was arrested at the Port Harcourt airport on Saturday 7th May upon his arrival from Brazil via Doha onboard Qatar Airline flight QR1433. The spokesman of the NDLEA, Femi Babafemi in a statement said preliminary investigations revealed Amaechi, who was

arrested and convicted in Brazil for drug offences completed serving his jail sentence in March 2022, after which he decided to return to Nigeria with three new lawn mowers where he concealed 24 parcels of cocaine weighing 4.56 kilogrammes. Babafemi said each parcel concealed in the tyres of the three lawn mowers bears some unique inscriptions, which are believed to

be means of identification of the owners of the drug., adding that the two parcels in one of the tyres of the first lawn mower bear “O LORD” and “HAVE MERCY”. The parcels in one of the tyres of the second mower bears the inscription “IN GOD” and “WE TRUST”, while the third mower has “IJIOMA” and “186.6” inscribed on the two parcels hidden in one of its tyres.

2023: No Ogun West APC Senatorial Aspirant will be Disqualified, Say Elders

JamesSowoleinAbeokuta

Leaders of the All Progressives Congress (APC) in Ogun West Senatorial District and members of the Governor’s and Elders Advisory Council, at the weekend, said they would not allow any of the aspirants contesting for the senatorial seat in the district, to be disqualified, under any disguise.

The leaders, declared specifically, that the stage, had been set for all the aspirants to go to the field and test their popularity, among delegates of the district in a free, fair and credible primary. The declaration, was given sequel to a communique, purportedly issued by a group, Committee of Concerned Ogun West Patriots under the umbrella of Ogun West Elders, Leaders and Stakeholders in theAPC,

accusing the party leaders of working to skew the party’s senatorial primary in favour of Senator SolomonAdeola. The group also claimed that the party in Ogun West was enmeshed in controversy and acrimony, and demanded that Senator Adeola be excluded from taking part in the primary as he is a “stranger and foreigner.” But refuting the allegations to

newsmen after a meeting held in Ilaro, Yewa South Local Government, a former Chairman of the Ogun State Universal Basic Education Board (SUBEB) Chief Muftau Ajibola, said that all the claims by the group led by Senator Iyabo Anisulowo and Mrs. Mary Ogunjobi, were not only bogus, but a futile attempt to discredit the genuine APC leaders in Ogun West.

MONDAY MAY 23, 2022˾ T H I S D AY

NEWSXTRA

‘How Gov’t Agency Sold over N2bn Assets for N13m’ Juliet Akoje in Abuja The Ogun-Oshun River Basin Development Authority sold government plant, property and equipment (PPE) valued at over N2 billion by the office of the Auditor General for the Federation for a paltry sum of N13.618 million. The Managing Director of the agency, Olufemi Odumosu, told the House of Representatives Committee on Public Account that the PPE were disposed off through public actions carried at by the auctioneers appointed by the Federal Ministry of Water Resources, who also approved the auction. According to the records of the PPE, the auctioned revealed that an 800 KVA Perkins Diesel generating set brought by the agency in 2006, for an undisclosed amount was sold for N550,000 in 2018 after being branded unserviceable. Also, a CAT Payloader bought for N70,000 in 1982 was sold for N40,000, while other earth-moving equipment like bulldozers, graders and escalators were sold for between N350,000 and N550,000 as unserviceable items. In addition, he revealed that a Toyota Camry 2.5L bought in 2013, for N8.150 million, with a book value of N1.222

million which would have cost the agency N1.2 million to repair was sold for N22,500; while trimmers bought in 2004 and lawn mowers bought in 2005 were sold for N2,000 and

N6,500 respectively. Similarly, three Peugeot 504 station wagon bought for N2.9 million each and we’re still in serviceable condition at the time of sale were sold for N26,400

each, while a Mistubushi canter lorry which cost the agency N8.55 million was sold as scrap for N80,000, while a DAF (1000) Lorry bought for N5 million was sold for N90,000.

Also, a Toyota Hilux bought for N3.75 million and would have cost the agency N187,500 to repair was sold for the same N187,500. Odumosu who appeared

before the Public Accounts Committee of the House of Representatives said the auction was transparently carried out under the supervision of the Ministry of Water Resources.

PROUD PARENTS…

An MBA Graduate of Columbia University, New York, Mr. Idunnu Olayinka, with his parents, Mr. Olaniran Olayinka(right), who is Group Managing Director/ CEO of Keystone Bank, and Mrs. Olayinka Olayinka, during the 268th Commencement ceremony of the Ivy League University in New York City…recently

Swimming Expedition Claims Four Dead, Five Rescued from Collapsed Building in Lagos Teenager’s Life in Kwara Traders defy court order re-occupy distress building Hammed Shittu in Ilorin

A 17-year-old boy identified as Abdulkadir has drowned after an ill-fated swimming expedition in Kwara State. The incident, according to THISDAY checks, occurred around 4 p.m. at Ora village in Monasara, Ifelodun Local Government Area of the state at the weekend where he had gone to write the ongoing West Africa Senior School Certificate Examination (WASSCE). According to a village source, “Abdulkabir begged one of the resident, Tosho, 10, and his friend

to take him to a river and swim. “On their way, they met one of the school teachers who enquired where they were going and they lied to him that they were going to buy bread. “But he eventually died in the process. His corpse has been recovered.” It was gathered that his father, Mr. Abdulsalam, who resides at Idi-Ape area of Ilorin, had given approval for the son to be buried by the river side. It was further learnt that the other two boys had since been detained at the local police post where the matter was reported.

Ijaw National Congress Castigates Governor Wike Olusegun Samuel The President of the Ijaw National Congress (INC), Prof. Benjamin Okaba, has described the outbursts of the Governor of Rivers State, Nyesom Wike, as unfortunate, adding that his ‘erratic comments’ show that “those who ordinary should be in the psychiatric hospital are in the corridors of power.” Okaba, in an interview in his office in Yenagoa, Bayelsa State, stated that when a man quarrels with virtually everybody in the country, it shows that he

is either influenced by alcohol or ungodly spirit. He said the INC has made their position clear on the issues of the arrest of the member of the House of Representatives, Farah Dagogo, saying due diligence should be followed in the case. According to him, “I think we have made our position very clear, which iås that due diligence should be applied in addressing the issue. The utterances of the governor of Rivers State before the arrest clearly portray some elements of victimisation.”

Gunmen Abduct Cleric, Son, Demand N10m Ransom in Ondo

Fidelis David inAkure

A Christian cleric, identified as Venerable Olu Obanla and his son have reportedly been kidnapped along Ifon-Okeluse Road in Ose Local Government Area of Ondo state. THISDAY gathered yesterday that the victims were traveling along the road on Saturdaywhen the hoodlums accosted and dragged them into the bush to an unknown destination. A source said shortly after the

abduction, the gunmen contacted the family and demanded a sum of N10million for the release of the victims It was learnt that the family were unable to get the money as they could only gather N1million which was refused by the abductors. When contacted, the Police Public Relations Officer in the state, Funmilayo Odunlami, who confirmed the incident, said efforts were ongoing by the operatives of the command to rescue the victims.

Bennett Oghifo and Wale Igbintade

Four bodies were recovered and five people rescued from the rubbles of a four-floor building, under construction, that collapsed shortly at 4 Alayaki Lane, Freeman Street, Lagos Island. The Permanent Secretary Lagos State Emergency Management Agency (LASEMA), Dr Olufemi Damilola Oke-Osanyintolu informed THISDAY of this development in a message on WhatsApp, stating “We are

now in ground zero, Operation completed.” According to Oke-Osanyintolu, “The Agency responded to the above incident (the building collapse) which was already in violation of building safety protocols. It was discovered that the building had been captured by the Lagos State Building Control Agency (LASBCA) District Office and served with all Statutory Notices, Sealed at District and Central Enforcement Level. “Further investigation determined that the developer had

continued clandestine operations mostly at night and on weekends.” However, a professional in the building industry and strong advocate against building collapse, Kunle Awobodu said buildings have been collapsing around the Freeman Street axis and that the last time it happened at Ita Fagi, the Lagos State Government marked 100 buildings as defective and for demolition. “They have not done so, and now this tragedy has happened at a building site under construction. The collapse of existing buildings and those

under construction has made the situation very complex and difficult to predict.” Awobodu, who was the president of the Building Collapse Prevention Guild, and former President of the Nigerian Institute of Building, said these ugly occurrences make professionals in the building industry to wonder why they happen even after their continuous campaign over the years against collapse of buildings that ought to enlighten people to go through the due process so that lives are not lost.

A’Ibom Guber Aspirant Alleges State’s Neglect Okon Bassey in Uyo An All Progressives Congress (APC) governorship aspirant in Akwa Ibom State, Professor Chris Ekong, has stated that there is no economic plan for the state despite its potential. Ekong, who is a Professor of Economics, regretted that over 52 percent of the youth population in the state is

unemployed, describing industries embarked upon by the present administration in the state as phony and overrated. Speaking with journalists in Uyo at the weekend, the governorship hopeful challenged the state government to publish the equity share and Internally Generated Revenue (IGR) from the acclaimed industries. “There is a difference between

an industry and a shop. What we are witnessing in this state is very heartbreaking. “Industry is not about open today for groundbreaking and closing tomorrow. If they are sincere, they should tell us their equity participation, how many people they employed, their turnovers, and where they sell the products. “Even the recently inaugurated

coconut Refinery in Akwa Ibom State has no equity participation. If it has let them show us. How can they plant on salty soil? I don’t know who gave them such an idea.” Ekong maintained that his emergence is to redeem the state by righting all the wrongs against the people of the state in all sectors of the economy.

Rivers PDP Holds Successful Primaries for State Assembly, House of Reps Amadi (Obio/Akpor II), Franklin The primaries elected 32 candidates George.

BlessingIbungeinPortHarcourt

The Peoples Democratic Party (PDP) yesterday conducted a peaceful primaries to select candidates to fly the party’s flag for State House of Assembly and House of Representatives at the 2023 general elections. THISDAY observed that the PDP conducted the election at the various constituencies across the 23 Local Government Areas of the state.

for state Assembly and 16 candidates for House of Representatives. Some of the flag bearers for the House of Assembly seats include: Dominic Iderima (Abua/Odual), Queen Williams ( Ahoada East I), Ehie Edison (Ahoada II), Sokari Goodboy Sokari (Ahoada West), Major Jack (Akuku-Toru I), Opuende Lolo Isaiah (Akuku-Toru II), Ofiks Kagbang (Andoni), Tekena Granville ( Asari-Toru I) and Enemi Alabo

Others are: Victor Oko George (Bonny), Abbey Peter (Degema), Igwe Aforji (Eleme), Justina Emeji (Emohua), Onwuka Ignatius (Etche I), Chimezie Nwankwo (Etche II), Maol Dumle (Gokana), Prince Lemchi Nyeche (Ikwerre), Barile Nwakor (Khana I) Dinebari Loolo (Khana II) and Amaehwule Martin (Obio/Akpor I). Also to fly PDP’s flag at the state assembly’s election are: Emilia Lucky

Nwabochi (Ogba/Egbema/Ndoni I), Nkemjika Ezekwe (Ogba/ Egbema/Ndoni II), Davies Okobiriari (Ogu/Bolo), Somiari Steward Linda (Okrika), Nwankwo Sylvanus (Omuma) Orubienimigha Adolphus (Opobo/Nkoro), Gerald Oforji (Oyigbo), Solomon Wami (Port Harcourt I), Tonye Adoki, (Port Harcourt II) Azeru Opara (Port Harcourt III) and Ngbar Baridemaue (Tai).

Community Decries Influx of Miscreants into FCT Tourism Sites Olawale Ajimotokan in Abuja

Leaders of Mpape community has decried the return of miscreants and suspected criminals to the crush rock spring water tourism site few months after they were dislodged by the Federal Capital Territory Administration (FCTA) Task Force on enforcement. The rocky location prone to

seismic stress is a man-made tourism site that has been attracting visitors in droves with potential to generate large revenue annually. They made the outcry yesterday when Mpape Paramount Ruler, Chief Musa Ahmadu, had an audience with the Senior Special Assistant on Monitoring, Inspection and

Enforcement to FCT Minister, Ikharo Attah, requesting the FCTA to send bulldozers to the site. They lamented that the joy of a serene environment devoid of street urchins and traffic gridlock that followed the last massive clean-up exercise in the area had been shortlived with a spike in criminal activities.

Ahmadu expressed dismay that all the places where the Taskforce dislodged the illegal occupants had been fully rebuilt against their wish. He also fumed that the miscreants had even deepened their criminal activities at the tourism sites and were deterring potential tourists from visiting the area.

MONDAY, ͺͻ˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

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

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Man City Survive Aston Villa Scare to Win Fourth Title in Five Seasons Spurs grab UCL ticket

Duro Ikhazuagbe withagencyreport Manchester City survived a two-goal down to fight back to a 3-2 victory over a stubborn Aston Villa on the final day of the 2021/2022 Premier League season. Three goals in five minutes brought City back from the dead and their fourth title in five seasons. With Liverpool winning 3-1 at Wolves Pep Guardiola’s men revved up their firing power to refocus their sail on the way to retaining the title. It was indeed a dramatic evening at Etihad

Premier League Man City 3-2 A'Villa Liverpool 3-1 Wolves Arsenal 5-1 Everton Brentford 1-2 Leeds Brighton 3-1 West Ham Burnley 1-2 Newcastle Chelsea 2-1 Watford C'Palace 1-0 Man Utd Leicester 4-1 S'thampton Norwich 0-5 Tottenham

PREMIER LEAGUE Stadium. The prospect of ending the season empty-handed was real in the first 70 minutes of the game. Goals from Matty Cash in the 37th minute and Philippe Coutinho in the 69th put Villa 2-0 ahead and in firm control. And at it looked as if Villa Manager, Steven Gerrard, might help his former club Liverpool secure the title. But City turned the game on its head in an atmosphere bordering on hysteria. Ilkay Gundogan, on as a substitute for Bernardo Silva, gave City hope with a far-post header in the 76th minute, and Etihad Stadium was a wall of noise when Rodri drove a low finish past Villa keeper Robin Olsen two minutes later. The title-winning recovery was complete with nine minutes left as Gundogan once again arrived at the far post to put City in front, the decisive contribution on this nerve-shredding final day. City did need those three points as Liverpool beat Wolverhampton Wanderers - with City boss Guardiola overcome with emotion and breaking down in tears at the final whistle. At the Emirates, Arsenal

Madueke, MaryLove Win CBN Senior Tennis Open Olawale Ajimotokan in Abuja Nonso Madueke and MaryLove Edwards over the weekend emerged winners of the 44th CBN Senior National Open Tennis Championship male and female singles’ in Abuja. After nearly three hours of fierce exchanges, fourth seeded Madueke, clinched the championship in the third set after number one seed Henry Atseye retired and conceded the match due to injury with Madueke ahead 2-0 via match points. Before retiring from the match, power-playing Atseye easily took the first set 6-2 while Madueke took the second 7-6 via an entertaining tie breaker (12-10) that dragged into the night and got the spectators at the centre court of Moshood Abiola National Stadium Abuja, on the tenterhook. Atseye had come into the game with a lot of confidence after an energy-sapping 4-6, 7-6(6), 6-4 victory against Wilson Igbinovia in the semi-final. The 18-year-old Igbinovia’s dream of a second championship win within the space of two weeks after winning the second edition of the DavNotch Open

was cut short earlier on Saturday. Madueke, had quite an easy ride to the final as he dismissed unseeded Philip Abayomi 6-0, 6-0 in the other semi-final encounter. “It was a difficult match, but I knew that as long as I kept on fighting, I was going to scale through. “We both had to play two consecutive matches today and even though my opponent’s semifinal game was quite tougher than mine, I knew that I couldn’t rest on my oars. I had to keep pushing and stay focused. Thank God I had the victory at last,” Madueke said. In the women’s single’s category, MaryLove Edward defeated Aanu Aiyegbusi 6-3, 6-4 to emerge champion. The 17-year-old MaryLove had earlier given sign of what to expect in the final when she outclassed the defending champion and three times winner, Oyinlomo Quadre, 2-6, 6-2, 6-4 in one of the semi-final matches while Aiyegbusi stopped Oiza Yakubu 6-1, 6-1 in the second semis. The CBN Governor, Godwin Emefiele, was represented at the presentation by Dr Isa Abdulmumini.

Arsenal, Man Utd for Europa League thrashed Everton 5-1 but it was too little too late, as they were pipped to the last Champions League place by their North London rivals Tottenham Hotspur. A win for Arsenal against Everton while a defeat for Spurs

at already relegated Norwich, would have seen them qualify for a first Champions League since 2017. But Spurs hammered Norwich 5-0 at Carrow Road to beat their bitter rivals and claim fourth place while Arsenal

finished fifth. Despite Manchester United’s 1-0 defeat at Crystal Palace, Brighton’s 3-1 defeat of seventh placed West Ham ensured the Red Devils qualified for the Europa League while West Ham are to play in

14-year-old Hana Goda will vie for honours in the championship. El-Salhy also said the tournament serves as the continental qualifiers for the endof-the-year WTT Cup Finals which will have 28 men and 20 women from 13 countries competing for the singles titles. Assar, who recently moved

the Europa Conference. And in the relegation fight, Leeds stayed up after defeating Brentford 2-1 away while Burnley dropped to the Championship no thanks to a 1-2 home loss to Newcastle United.

Manchester City’s players celebrating winning the 2021/2022 Premier League season last night after ﬁghting back from two goals down to beat Aston Villa 3-2 at the Etihad Stadium.

Bayelsa Queens are NWFL Super 6 Champions

The CEO of Tulcan Energy Resources, Mr. Tayo Adiatu (right), presenting the NWFL Premier League’s trophy to the Captain of Bayelsa Queens, Joy Jerry, at the Samuel Ogbemudia Stadium in Benin City...yesterday

Bayelsa Queens have emerged the 2021/2022 NWFL Premiership Super 6 champions with an emphatic 2-1 win against Nasarawa Amazons in the last match of the season’s prime event decided on Sunday at the lush pitch of Samuel Ogbemudia Stadium in Benin City, Edo State. Gift Monday’s first half brace in the 25 seconds and 25th minute proved decisive to hand the fourtime champions the coveted trophy and the championship top cash prize of Five Million Naira while Basirat Amoo scored the consolation for the Lafia side in the 16th minute of the keenly contested matchday 5 clash. Monday’s 25seconds goal went down in history as the fastest goal of the 2021/2022 NWFL Premiership Super 6 championship. As first runners-up, the two-time champions, Nasarawa Amazons pocketed the championship cash prize of Three Million Naira while the second runners-up and now dethroned champions, Rivers Angels went home with Two Million Naira. The Yenagoa-based side 100

ITTF Africa Cup Table Tennis Championship Serves off in Lagos Today The much-celebrated 2022 ITTF Africa Cup table tennis championship will serve off today at the Teslim Balogun Stadium, Surulere, Lagos. Speaking at a media parley in Lagos yesterday, the President, ITTF Africa, Khaled El-Salhy, revealed that top ranked tennis players such as Aruna Quadri, Omar Assar and

Burnley drop

to Germany after playing two seasons in the French league will be championing the North African onslaught alongside defending champion Ahmed Saleh and Mohammed El-Beiali. Assar who is Lagos fans’ favourite will be hoping to regain his top spot in the continent after being displaced by Quadri Aruna

in 2020 and the 2019 Africa Cup champion has been warming up for the tournament in Germany. 14-year-old Hana Goda and African champion Mariam Alhodaby will be making their debut at the tournament while women’s defending champion, Dina Meshref, will be hoping to put the disappointment of 2021

behind her and aiming to hold on to the title she had won for more than six-times. The ATTF Africa boss commended the Main Organising Committee, headed by Barrister Wahid Enitan Oshodi for making Nigeria and Lagos State in particular the destination of choice for table tennis.

percent performance at the annual NWFL prized football fiesta confer on them as Nigerian champions as well as the nation’s candidates for the sub-regional WAFU Zone B playoff for the second edition of CAF Women’s Champions League. Rivers Angels had the enviable honour as champions to have represented the nation at the maiden edition in the North African nation of Egypt. Aside being the newest champions, Bayelsa Queens players claimed all the individual awards in the championship. Loan player and FC Robo Queens lethal finisher, Gift Monday won the NWFL Premiership Super 6 Highest Goal Scorer (HGS) award with a massive 12-goal, Most Valuable Player (MVP) as well as the Woman of the Match (WOTM) in the last day clash against Nasarawa Amazons. Bayelsa Queens’ Cameroonian goalkeeper import, Gabrielle Ange Bawou won the championship goalkeeper of the season award. The newest championship amassed a total of 15 points having won all their five matches against challengers, Nasarawa Amazons, Rivers Angels, Delta Queens, Edo Queens and the whipping child of the championship and newcomers, Naija Ratels. Naija Ratels lost all their five matches and had the ignoble record of not scoring a goal in the championship. All the six participating teams in the Tulcan Energy sponsored NWFL Premiership Super 6 were given One Million Naira each courtesy of the league body, NWFL.

Monday, May 23, 2022

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MISSILE Gov Obaseki to FG, ASUU

“The strike is one of the factors that is driving the use of illicit drugs in our state. I therefore… appeal to ASUU and the Federal Government to please end this strike as soon as possible for the interest of the children of this country so that we don’t keep them at home, destroying their lives. The idle mind is the devil’s workshop” – Edo State Governor, Godwin Obaseki, blamed the rise in drug abuse on the ASUU strike.

MAHMUDJEGA VIEW FROM THE GALLERY

If Priests Can’t Vie, Who Can? T

his crucial week when we are about to see our legislative, governorship and presidential aspirants pruned down from several thousands in 18 political parties to a very manageable four thousand, I thought we should cast our nets wide to find the best material from every available sector of national life that holds the key to the solution to our national problems. Imagine my disappointment, therefore, when the Roman Catholic Church’s Gboko Diocese in Benue State indefinitely suspended Rev. Father Hyacinth Alia for declaring his intention to run for governor in next year’s elections. Rev. Alia paid N50 million and picked up the nomination form of All Progressives Congress, APC. He passed the screening process and was cleared to participate in the party’s primary this week, alongside 11 other aspirants. But the church was of the view that he erred in going into politics as an ordained priest. Bishop of the Gboko Diocese, Bishop William Avenya then sent Alia a letter, dated May 20, suspending him from public ministry “after a series of admonitions to him” were ignored. Avenya wrote that “The Mother Church does not allow her clerics to get involved in partisan politics on their own.” Alia was therefore suspended because of “the spiritual and pastoral needs of the Church…This canonical suspension takes effect from the moment it is communicated to him and lasts until he ceases from contumacy.” I was not totally surprised to read about the Gboko Bishop’s action because some years ago, at a public event in Abuja, I heard the then Archbishop of Abuja Diocese, John Cardinal Onaiyekan, say the same thing, flatly, that “other churches may have different rules but in my own church, we don’t permit priests to dabble into politics.” He was referring to the then notorious case of Reverend Father Ejike Mbaka of Adoration Ministry, Enugu, who became known nationally for taking sides in political contests through both prophesies and activism. That this latest clerical suspension took place in Benue State was a bit of a surprise because there was historical precedent in that state. In late 1991, the [now late] Reverend Father Moses Adasu was elected Governor of Benue State on the platform of SDP, and he went on to govern the state for two years until General Sani Abacha sacked the Third Republic in November 1993. What is it that the church is afraid of? Is it that Father Alia paid N50 million for expression of interest and nomination forms, when the salary of a priest is just enough to prevent him from starvation? Priests have no labour union recognized by NLC. Even though they minister to ASUU members, they have never embarked on a warning, limited or indefinite strike to press for earned clerical allowances, supervision fees, hazard or other allowances. Is the church saying that Father Alia cannot combine his

Rev. Fr. Hyacinth Alia

spiritual duties with election campaign when in Nigeria, people with much wider public duties have been combining that with campaigning, to the detriment of the latter? Or maybe the church is afraid of scandal. Not long after Father Adasu became Governor of Benue, he fell out with Godwin Daboh, now late too. Daboh shot into national reckoning in 1974 when he filed an affidavit alleging corruption against the then Federal Commissioner for Communications, his fellow Tivman Joseph Tarka. According to a newspaper story in 1992, Daboh, who was President of the Nigeria-Israel Friendship Association, told Governor Adasu not to dissolve the board of the Benue State Agricultural Development Authority, of which Daboh was chairman, because the Israelis made his stay a condition for their continued support for the program. Adasu refused, insisted on dissolving the boards of all government agencies, but said he will “consider” what Daboh said when reconstituting the boards. Days later, The Broom newspaper published by Daboh went to town with serious allegations

against Adasu, which I do not want to repeat here. I understand that the church does not want that to happen to Father Alia in case he wins the election. I do not begrudge the Catholic Church its desire to protect its priests and itself from the ravages of politics. If priests contest and win elections, it is not impossible that one day, EFCC will “invite” some of them to answer to allegations of money laundering and economic sabotage. If you are a governor in Nigeria, many things will be done in your name, with or without your knowledge, that will one day invite the attention of criminal investigators. EFCC agents can be sacrilegious; they hauled the Accountant General of the Federation away from an airport, so they may think nothing of pulling a priest from the altar. Hence the church has to be careful. My only worry is, too many sectors of our national life are being closed to recruitment of future leaders, hence the space is severely constricted when NGOs are calling for the “widening of political space” in this country. If priests, who are the most cocksure of people, are not available to be elected as leaders, who else is? Priests deliver their message to congregations with the utmost certainty. They are the only ones who rule, definitively, on who is going to heaven and who is going to hell. Many people are confused because there are so many religions and so many sects within the religions but each one is cocksure of its message. Look, people who are so sure about who is going to heaven and who is going to hell, sure they should know who is a terrorist, who is a bandit, who is a kidnapper, who is a Yahoo boy and who is going to loot the treasury when he becomes governor. Clerics’ message includes more certainty than those merely promising change and progress. We should consider them for election, please. You want to exclude priests when so many other sectors have already been excluded from elections? The Constitution says civil servants, millions of them, must resign at least 180 days before the elections. The Constitution was being clever by half

The Mother Church does not allow her clerics to get involved in partisan politics on their own.”Alia was therefore suspended because of “ the spiritual and pastoral needs of the Church…This canonical suspension takes effect from the moment it is communicated to him and lasts until he ceases from contumacy

because any civil servant who waits until 180 days to the election is already out. This is because the parties would have concluded their primaries and the same Constitution says one can only contest the general elections if he is sponsored by a political party. Not satisfied with this upper cut, the National Assembly inserted a section into the Electoral Act that excluded ministers, commissioners, ambassadors, advisers and assistants from seeking election unless they resign from their posts, thus further shrinking the space. Up to ten ministers pretended not to know about that provision and ran around campaigning while still in office, but President Buhari waded in with a directive that they must resign. His [extra-constitutional] concern was probably that his Administration’s work was suffering because ministers were off campaigning. National Assembly was so busy trying to throw ministers out of the election process that it scored an own goal, i.e. forgot to include statutory delegates in party congresses and conventions. That includes the MPs themselves. They hastily passed an amendment last week to include statutory delegates but despite the urgency, the president left for Abu Dhabi without signing it. Then when he came back, he referred it to INEC and the Attorney General for advice. How can the Attorney General, who was forced out of a governorship race by a National Assembly manoeuvre, ever recommend anything that MPs ever pass for assent? Soldiers and policemen are not available to be chosen as our next leaders. Some people are even complaining that a former Chief of Air Staff should not be in the race for Governor of Bauchi, because he still smells of Airforce uniform and Ambassador’s diplomatic garments. ASUU members cannot seek election because they are the reservoir from which INEC appoints returning officers. In order to do their extra-academic election duties unhindered, ASUU will probably prolong its strike until after the election, since its members will be paid for earned election allowances not through IPPIS. NYSC members cannot vie for election either because INEC draws its presiding officers from that pool. It is now known that anyone who drops out of NYSC and becomes a legislator or a minister will face legal, media and NGO music. Ask the eaglet Finance Minister Mrs. Kemi Adeosun and Alhaji Adebayo Shittu. Clerics can’t run. Ministers can’t run. Ambassadors can’t run. Civil servants can’t run. Soldiers and policemen can’t run. Academics are out. Statutory delegates are out. NYSC members are out. Millions of Nigerians without secondary school education are out. Many more millions with the education but under 35 years of age are out too. Every Nigerian who does not have N100million to buy a form is also out. Who then is left to run for President of Nigeria?

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