MONDAY 30TH MAY 2022

No Plans to Move Our Investments Away from Dollar, Says NSIA James Emejo in Abuja Managing Director/Chief Executive of Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, has said the investment authority has no plan to re-dominate its assets from the United States dollar into other reserve currencies.

There had been speculations that NSIA could consider moving away from the dollar amid the current global dynamics occasioned by the RussiaUkraine crisis, which appeared to have threatened the age-long dominance of the greenback.

However, Orji said he did not foresee an end to the dollar

prominence, adding that the greenback has often been the preferred haven for assets in turbulent times.

Besides, he said many currencies seemed to have underperformed the dollar whenever there was a crisis, as it remained the currency of safety for most people.

Orji stated, “So for the NSIA, I think we are still going to remain fairly heavy on the dollar for some time.

“In terms of moving our investments away from the dollar, I think we are still a long way from any other world reserve currency. It is still complicated for the world to unwind into

something else.

“When there is an economic crisis, there are probably three currencies people tend to hide their assets in: one is the US dollar, second is the Japanese Yen, and third is the Swiss Franc.”

The NSIA boss recently stressed that global inflation remained a significant

disincentive to investments, adding that it has continued to distort the global economy.

He also warned that financial performance of the NSIA in 2022 could be impacted by developments in the global and local environments given Continued on page 5

NCDC Declares Emergency Over Monkeypox Disease... Page 58 Monday 30 May, 2022 Vol 27. No 9911. Price: N250

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Jonathan Not Being Considered as APC Presidential Candidate, Says Lukman…Page 6

2023: Obi's Aspiration Suffers Setback as Fresh Litigation Rocks Labour Party Abdulsalam's ex-deputy vows to obtain new court orders today NLC still in court against Abure, says Falana Sunday Aborisade, Abuja Plans by former governor of Anambra State, Peter Obi, to

contest next year's presidential election on the platform of Labour Party (LP) appeared shaky yesterday, as a faction of

the party threatened to renew its legal battle this week.

Former Deputy National Chairman of the LP, Calistus

Okafor, gave the hint in an interview with THISDAY in Abuja.

Similarly, yesterday, lawyer to Nigeria Labour Congress (NLC)

and Trade Union Congress (TUC), Mr. Femi Falana, confirmed that the case, which the unions instituted against the late

Abdulkadir Abdulsalam leadership of the party, now under the Julius Continued on page 5

Ayu to Tambuwal: 'You’re the Hero of the Convention'

Atiku begins search for running mate, considers south-south, south-east govs Pays Tambuwal ‘thank you’ visit as Anyim, Ihedioha, others congratulate him Southern, Middlebelt leaders say his election an affront on south Peterside castigates Wike for wasting Rivers money See story on page 5 OKOWA

STRENGTHS He is from Anioma, the Igbo speaking part of Delta.

He meets the clamour by south-east and southsouth for the presidency Has extensive administrative experience from local govt level to being a state governor with deep pocket He is well-educated, a trained physician WEAKNESSES Not exposed to national politics Might not be considered 100 per cent loyal considering recent development between him and his godfather

UDOM

OBASEKI

ANYIM

STRENGTHS STRENGTHS STRENGTHS He was a banker before he joined Akpabio’s govt as SSG An investment banker, might have some skills to Has rich public sector experience manage the economy Former Senate President and former SGF He's generally considered a gentleman Critical of the economic direction of the FG He's perceived as a stabilising voice Not seen to be overtly ambitious He's a dogged fighter, defeated his godfather in his Not seen to be overly ambitious An astute player in the power game in the state battle for a second term Aggressively campaigned for presidency to be zoned to S'east Outmaneuvered his godfather to get a second term.

WEAKNESSES WEAKNESSES WEAKNESSES Limited national experience, with no name recognition.

Perceived as a serial betrayal who doesn’t honour his words Doesn’t have deep pocket Has limited name recognition Even though he contested the primaries, he came Has limited experience in national politics Doesn’t have control of his State PDP structure Doesn’t have full grip of the internal politics of his state a distance fourth His party, the PDP is factionalised in home state Lost the battle to present delegates at the Doesn’t have a political base and structure Under investigation by the EFCC for alleged corruption recent convention outside his Akwa Ibom State

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NCC Secured Approval in Principle to Issue ISP Licence to Musk's Starlink

Emma Okonji

Despite the position of the Nigerian Communications Commission (NCC) that it has not concluded on the Internet Service Provider (ISP) licence and other licences with Starlink, Elon Musk’s internet service firm, THISDAY gathered yesterday that the regulator has secured Approval-in-Principle (AIP) from the Ministry of Communications and Digital Economy to issue ISP and other licences to Musk’s company to operate in Nigeria.

With the AIP and issuance of licence, Starlink Internet Limited, which is operated by SpaceX, would be trading as Starlink

Internet Services Nigeria Limited.

After waiting for NCC to announce the licence it issued to Starlink, Musk had last week tweeted that the NCC had issued his firm, Starlink Internet Limited with three licences to operate in Nigeria, a development that NCC refused to confirm.

Although the Director, Public Affairs at NCC, Dr. Ikechukwu Adinde did not respond to THISDAY’s message to confirm the development, a source from NCC, told THISDAY that Starlink met some of the requirements for the licence, but that NCC was yet to conclude on the licences.

Already, SpaceX had indicated interest in providing services in

Nigeria and has applied to NCC for six different licences, which cover the scope of SpaceX’s proposed services.

The licences include: Internet Service Provider (ISP) operational Licence; International Data Access (IDA) operational licence; Full Gateway Operational Licence; Sales and Installation Major (S&I- Major) Licence; Gateway Earth Station (GES) Network Frequency Licence per Gateway the company is to build; and Very Small Aperture Terminal (VSAT) Network Frequency Licence.

Information gathered from the Commission showed that the regulator has secured approval of the Minister of Communications

and Digital Economy for SpaceX to be issued with relevant licences to enable the company to provide services in Nigeria.

Further to this, SpaceX has forwarded applications for the six licences to the Commission and which are at various stages of processing, before the ISP licence and two other licences were issued last week by NCC. While three licences have been passed by Management Licensing and Economic Regulatory Committee (MLERC), the other three licences are still awaiting NCC Board approval.

Commenting after a meeting with SpaceX in March this year, the Minister of Communications

and Digital Economy, Dr. Isa Ibrahim Pantami, was said to have been excited at the development.

“Firstly, if you look at our Nigerian National Broadband Plan (NNBP), 2020-2025, we are ambitious particularly when it comes to broadband penetration. The reason is very clear: broadband penetration is key to economic development,” Pantami had said.

He noted that a report by the World Economic Forum (WEF) and another by the International Telecommunication Union (ITU) had indicated that 10 per cent increase in broadband penetration would catapult appreciable growth in Gross Domestic

Product (GDP).

“Looking at our challenges and the plan of the current administration of President Muhammadu Buhari to continue to develop our economy, we discovered broadband penetration key,” Pantami had further said.

“Based on our discussion with Starlink and SpaceX particularly in Poland in December, 2021 and also my engagement with the EVC of NCC, our plan is to achieve 70 per cent broadband penetration by 2025. But with the satellite, we could be able to achieve even more as we would be more ambitious now in order to ride on our previous achievements,” the Minister said.

stepping down at the presidential primary and said he did so for Atiku, a development that saw the former vice-president poll 371 votes to defeat his closest rival, Governor Nyesom Wike of Rivers State with 237 votes.

But the decision by Tambuwal to step down for Atiku was allegedly masterminded by top northern politicians as the master stroke that ensured victory for Atiku.

Thus, on his visit to Tambuwal, Ayu who first embraced the Sokoto governor warmly and later shook hands with him, first referred to him as “my chairman”, but Tambuwal jocularly retorted,

smiling: “I’m a small chairman, sir.’

Ayu then shook hands with him again and said, “You are the hero of the convention”, a remark to which Tambuwal replied: “Thank you, sir.”

On his visit to Tambuwal, Atiku, who was accompanied by one of his associates, Senator Dino Melaye, and others, had close discussions, especially, on how to move the Atiku campaigns forward.

Also, on the search for a running mate, one of those that followed Atiku on the visit said, the meeting talked about the possibility of early search for a running mate, as the party must ensure it meets the June 17 deadline for all political parties to submit the names of their standard bearers.

But this time around, the search for a running mate, THISDAY gathered, would be less controversial as the process would be inclusive as against the case, when Atiku was accused of unilaterally picking Peter Obi as his running mate without enough consultations with other stakeholders.

The source said one of the problems of Atiku's campaigns in 2019 was the accusations from the chairman of Southeast governors forum, Dave Umahi, that Obi was appointed a running mate without much input from the PDP governors.

"This time around, everybody will be carried along and an acceptable running mate will be appointed," the source said.

On where the running mate could come from, the source said, it was likely to come from one of the PDP governors from the south, pointing to a South-south in particular.

According to the source, "The Delta State Governor, Ifeanyi Okowa, is top on the list, because other governors from the south are already engaged and aligned “The governor of Abia State, Okezie Ikpeazu, is already a senatorial candidate in Abia State.

The Enugu State Governor, Ifeanyi Ugwuanyi, won his senatorial ticket to represent Enugu West and so, it is only the Delta State governor that yielded the Delta North senatorial seat to Ned Nwoko.

"So, by and large, Okowa is among the top contenders, because by 2023, he would be completing his office as a governor for 8 years. Another likely person to be considered could have been Peter Obi, but he has resigned from the PDP and now in the Labour Party. He is out of contention," the PDP source explained.

However, in his message of congratulations to Atiku, Anyim in a statement also commended the 2022 PDP Special Convention Committee for successfully conducting the primary election.

The former President of the Senate said he was proud to have fully participated in the

race to the end and praised his supporters for being with him to the end.

He, however, lamented that voting preferences at the election still reflected old pattern of primordial sentiments, wondering if the national desire to find solutions to her problems would be realised by such actions.

In the statement personally signed, Anyim said, "I must sincerely commend the PDP 2022 Special Convention Committee for doing a great job. I'm proud to have gone through the race to the end.

"However, I am shocked that consideration for voting the PDP presidential candidate was not based on burning national issues and how to resolve them, but still on the old primordial sentiments.

"It appears doubtful if our search for nationhood is yielding any results. I deeply appreciate and thank all those who stood by me throughout this race, especially, those that voted for me at the primary election.

"I want to assure all of you that we shall continue to stand tall until we birth the Nigeria of our collective dreams. Let me also congratulate His Excellency, Alhaji Atiku Abubakar for emerging the PDP flag bearer for the 2023 presidential election," Anyim said.

Ihedioha, on his part, said. “I urge the former vice president of the Federal Republic of Nigeria to swiftly move to reconcile the various interest groups within the party PDP and also call on the party faithful across the country to give their support to His Excellency Atiku Abubakar, former vice-president of Nigeria in line with the desires of Nigerians to actualise the dream for a revamped PDP. I urge him to be magnanimous in victory and unify on all fronts."

AYU TO TAMBUWAL: 'YOU’RE THE HERO OF THE CONVENTION' Deji Elumoye, Chuks Okocha, Udora Orizu in Abuja, Adibe Emenyonu in Benin City and Blessing Ibunge in Port Harcourt National Chairman of the Peoples Democratic Party (PDP), Dr. Iyorchia Ayu, yesterday told the Governor of Sokoto State, Aminu Tambuwal, that he was the hero of the party’s presidential convention, which elected former Vice-President Atiku Abubakar as the PDP presidential candidate for the 2023 general election, weekend.

This is as Atiku has allegedly begun consultations in search for

a running mate, with the Southsouth largely in focus, even as he (Atiku) too had earlier paid Tambuwal a ‘thank you’ visit, for stepping down for him at the convention, a development believed to have aided his victory.

At the same time, a former President of the Senate, Anyim Pius Anyim and former Deputy Speaker, House of Representatives, Emeka Ihedioha, yesterday, joined several other Nigerians to congratulate Atiku on his victory at the convention.

Meanwhile, the Southern and Middle Belt Leaders Forum (SMBLF), has described the emergence of Atiku as the PDP

presidential candidate as a brazing affront on the people of Southern Nigeria by the opposition party.

In a similar breath, a former Director General, Nigeria Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has expressed sadness that despite allegedly spending about N30bn of Rivers' funds, the PDP delegates still rejected the Governor Nyesom Wike of the state.

Ayu, in company of a former Jigawa State governor, Sule Lamido and Ihedioha, among others, had visited Tambuwal to personally thank him for his role in the outcome of the convention.

Tambuwal had announced

NO PLANS TO MOVE OUR INVESTMENTS AWAY FROM DOLLAR, SAYS NSIA its exposure across the three funds under management, namely the Stabilisation Fund, Future Generation Fund, and Infrastructure Fund.

But Orji assured that the authority would take steps to strengthen the resilience of its strategy through diversification, portfolio selection, and other options to enhance the risk/ return profile and liquidity.

He said, “Reactions to the

raging global inflation may lead to recessions in certain economies, as central banks have announced varying measures of rate hikes and halt to balance sheet expansion.

“The human and economic costs of the Russia-Ukraine conflict have continued to escalate, resulting in heightened geopolitical tension, disruption of the global supply chain, inflation, and potential impact on food

security.”

Orji added, “The growth prospect in China will be undermined by its zero-tolerance stance on the emergence of COVID-19, leading to lockdown in different regions and cities.”

However, in view of the positive performances over the years, the NSIA MD said it was considering the idea of paying dividend to the shareholders of the fund, including the federal

and state governments. But he pointed out that the gesture was subject to the approval of the National Executive Council (NEC).

According to him, the single biggest risk for the global capital market was complicated by the Russia- Ukraine war, as well as supply chain issues in China, as it struggles to contain the COVID-19 pandemic. “These are all factors that create headwinds into 2022.”

2023: OBI'S ASPIRATION SUFFERS SETBACK AS FRESH LITIGATION ROCKS LABOUR PARTY Abure faction, was still pending in court.

Okafor, who leads a faction of LP, wondered why Obi failed to carry out due diligence before he, allegedly, identified with a faction of the party, which the factional national chairman described as the wrong faction.

Obi left the Peoples Democratic Party (PDP) last week and announced his readiness to pursue his presidential aspiration in the LP faction led by Abure.

However, Okafor told THISDAY that Obi decided to defect to LP without proper information on the fact that the party's leadership had been a subject of litigation since 2018.

Okafor claimed that he remained the authentic national chairman of the party. He explained that he got the post by virtue of his position as Deputy National Chairman of the party when the late national chairman, Abdulsalam, was in office. He added that Abure, who is currently leading a faction of the party, was Acting National Secretary, when Abdulsalam, died in 2020.

Okafor further claimed that Abure announced himself as National Chairman without recourse to the provisions of the party's constitution, following Abdulsalam's demise. He said the LP constitution stipulated that the deputy national chairman should act and/or replace the chairman in the event of death or resignation.

Okafor explained, "The decision of Abure to make himself chairman, with the active collaboration of some members, actually led to the

current leadership crisis in the LP. "I, Calistus Okafor, approached the court to get a pronouncement to force Abure out and the case has been pending.

"The matter will come up tomorrow (today) at the Federal High Court. There is no way we would allow an Acting National Secretary to forcefully take over the party and replace the late national chairman against the provisions of the constitution of the party.

"I also want to confirm to you that apart from the suit I instituted against Abure and his team, the leadership of the Nigeria Labour Congress NLC) and the Trade Union Congress (TUC) are also in court, to claim ownership of the party."

Okafor urged Obi to thread softly, stressing that he LP, under which he intends to realise his aspiration at the moment, is in a deep crisis that may not be resolved before the 2023 presidential election.

He said, "The NLC and the TUC actually registered the Labour Party in 2006, but they were not the ones administering it.

"Peter Obi, at the moment, has been deceived and he is sitting on a keg of gunpowder and it is a pity. He went to wolves in sheep clothing thinking he was discussing with the right people.

Staying in the PDP would have been better for him.

"The LP has not done any convention since 2014, after the last one it did in Akure, the Ondo State capital.

"In 2017, after the removal of Abdulsalam as the national chairman, Julius Abure, being

the acting national secretary then and myself as the deputy national chairman (South), wrote the Independent National Electoral Commission, to organise a convention for the purpose of electing a new leadership.

"Along the line, Abdulsalam went to the leadership of NLC and TUC, as the people who registered the party, to join him in forcing us out.

"NLC, being smarter than him, demanded a written agreement that he had agreed that the LP actually belonged to the NLC and TUC. He accepted the offer and signed the agreement.”

Okafor further said, "The NLC then approached the court to authenticate the agreement. The court ruled that the organised labour could not run the party but should work with us being the administrators to organise an all-inclusive convention.

"The inability of the party to organise an inclusive convention made it impossible for former Governor Olusegun Mimiko to contest the 2019 presidential election on the platform of the Labour Party.

"It was then that Abure dumped our cause and joined Abdulsalam to organise a National Executive Council congress in Akwanga, Nasarawa State, without carrying other stakeholders along.

"They then notified the INEC that they had elected some people and removed others from the leadership, when they lacked such powers based on the court ruling.

"The crisis lingered until Abdulsalam died and Abure promoted himself to the office

of the national chairman, from his position of the acting national secretary.

"Abure is not qualified to hold the position because in hierarchy, we still have two Deputy National Chairmen and six Vice National Chairmen.

"As we speak, I am in court and

by Monday (today), I will get an order which I will post on the walls of the LP secretariat and gates.

"Peter Obi should know that there is no way for him in the LP and that even if I, Callistus Okafor, did not go to court and he wins, the structure that produced him would be challenged.

"I expected him to investigate properly before joining LP instead of allowing himself to be messed up by hungry wolves."

Several attempts to get the reactions of the NLC leadership and Abure through phone calls and text messages were not successful at the time of writing this report.

Meanwhile, Falana confirmed that the case, which the labour unions instituted against the Abdulsalam leadership, now under Abure, was still pending in Court.

Falana said, "The case is still pending in court. The case we have in court is against the Abdulsalam's leadership.

"That of Okafor could be their own internal affair. We are the people that went to court against Abdulsalam and while the case was pending, they went to do convention in Benin.

"Meanwhile, the court had ruled that parties must have a unity convention and we were not part of it."

‘Atiku’s Candidacy, Brazing Affront on Southern Nigerians’ The Southern and Middle Belt Leaders Forum (SMBLF), has described the emergence of former vice-president, Atiku as a brazing affront on the people of Southern Nigeria by the opposition party.

Following the release of the guidelines for the 2023 general election by the Independent National Electoral Commission (INEC), elders and leaders of Southern Nigeria and the Middle Belt, had made unequivocal proclamations on the need for the presidency to be devolved to Southern Nigeria in 2023, in respect of the time-honoured practice of the rotation and zoning of high political offices between the North and the South by political parties as a way of strengthening national unity, peace and harmony.

SMBLF further recalled that Continued on page 6

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T H I S D AY • MONDAY, MAY 30, 2022

NEWS

2023: Jonathan Not Being Considered as APC Presidential Candidate, Says Lukman Adedayo Akinwale in Abuja The National Vice Chairman, North West, of the All Progressives Congress (APC), Dr. Salihu Lukman, has said as far as the leadership of the party was concerned, former President Goodluck Jonathan was not even under consideration as presidential candidate of the APC in the 2023 elections.

Speculations are rife lately that the power brokers within the party and some elements in the presidency were hell bent on imposing Jonathan as the candidate of the party.

But reacting to the development in a telephone interview yesterday, Lukman said it would be impossible to impose a presidential candidate on the party ahead of the 2023 elections.

He insisted that all the aspirants that have purchased forms would be given a level playing ground.

"As far the leadership of APC is concerned and I am a member of that leadership, that (imposition) is not going to be possible. As far as the majority, indeed all of us (NWC) are concerned, everybody that bought the nomination form will be given a level playing field, so far such a person is qualified to be a member of APC and is qualified to aspire for such an important position.

"The campaign leading to the emergence of the candidate and the eventual trend of delegates to the convention will be driven based

on the aspiration of bringing out somebody that is acceptable to Nigerians on the basis of which the party can win. It is not on the basis of individual scheming."

The party chieftain stated categorically that Jonathan was not qualified to be the presidential candidate of APC. His words: "There are clear

guidelines in terms of how individual members of the party qualified to emerge as the candidate of the party. One, through the sale of nomination

forms. Assuming Jonathan claimed to be a member of the party, he has not bought the forms to the best of our knowledge. How do you come from the back door?

Okowa, Obaseki, Anyim Top List of Atiku’s Preferred Running Mates Emmanuel Addeh in Abuja The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, may pick his running mates from among a list of four eminent Nigerians, THISDAY learnt yesterday.

Amongst those being considered for the position include: The Governor of Delta State, Ifeanyi Okowa, his Edo State counterpart, Godwin Obaseki, Udom Emmanuel and the President of African Development Bank, Akinwunmi Adesina Atiku was elected late Saturday at a special convention of the Peoples Democratic Party (PDP), after beating the Governor of Rivers State, Mr Nyesom Wike, former Governor Bukola Saraki, among others to emerge the party’s standard bearer.

OKOWA

Okowa is the current Governor of Delta State and before then was elected senator for Delta North Senatorial District . A calm politician,

he is an Ika from Owa-Alero and was re-elected as the governor of Delta State on May 29, 2019.

A medical doctor by training, he has been Secretary to the Ika Local Government and then Chairman of the Ika North-East Local Government Council and has consistently remained in the PDP since 1998.

A former commissioner in Delta State at different times, he was elected Delta North Senatorial candidate in January 2011 and clinched the ticket for the gubernatorial election in 2015.

By May 2023, Okowa would have completed his two constitutionally guaranteed terms.

UDOM

Born in July 1966, the Akwa Ibom State Governor, Udom Emmanuel, took office since May29, 2015.

Emmanuel bagged a bachelor's degree in accounting from the University of Lagos in 1988 and is a Fellow of the Nigerian Institute of Management (NIM).

He was appointed in 2013 as Secretary to the State Government of Akwa Ibom and in 2015, he was elected governor of the state, succeeding his benefactor, Godswill Akpabio.

Re-elected in 2019, after defeating 44 other candidates at the poll, Emmanuel was one of the aspirants for the PDP presidential ticket, eventually won by Atiku at the weekend.

OBASEKI

Born in 1957, Obaseki is currently the Governor of Edo State. He had served as the chairman of the Edo State Economic and Strategy Team inaugurated by former Governor Adams Oshiomhole in March 2009.

He holds post graduate degrees in both Finance and International Business and is a Fellow of the Chartered Institute of Stock Brokers, Nigeria.

In addition, he had served as an executive board member of several private companies including Afrinvest. Also said to be cool-

headed, Obaseki is said to be within the radar of the PDP presidential candidate as his running mate.

ANYIM

One time President of the Senate and former Secretary to the Government of the Federation, Senator Anyim Pius Anyim, hails from Ebonyi State in Southeast Nigeria.

A respectable blend between the old and the new generations of politicians, Anyim attended Imo State University, where he studied law and graduated in 1987. And since joining politics in 1998, he has progressed enviably as one of the leading lights from the Southeast geopolitical zone, even though he had a lull for sometime.

With a good grasp of the nation’s complexities and her fault lines, Anyim has proven to also know what the issues are with profound solutions often suggested on the way forward. Thus, as a force from the Igbo-speaking nation, he qualifies as a worthy complement to the PDP presidential ticket.

"Secondly, as far as our memory can recall, the party became popular on the basis of the campaign against the bad governance of Jonathan and nothing has changed that we can now say has qualified him to emerge as the arrowhead of our campaign in 2023.

"As far as I am concerned, these two reasons disqualified Jonathan from even aspiring to become the candidate of the party. I don't know where he is coming from.

Unfortunately, in this country, where there is the mentality that everything is possible, but it must be clearly stated that as far as the leadership of the party is concerned, the person of Jonathan can't be under consideration."

When reminded that the National Chairman of the party, Senator Abdullahi Adamu, last week, said 28 aspirants purchased the presidential nomination forms, including the former president, whose form was bought by a group of Pastoralists and Almajiri communities, Lukman dismissed this claim.

"I am waiting for anybody to present evidence that a form has been submitted for Jonathan before the deadline for submission. I am waiting to see such evidence. You know, such a form will contain all details including the membership details of Jonathan. That I have not seen. Maybe somebody is hiding his form somewhere else. I am not aware Jonathan bought the nomination form," he said.

AYU TO TAMBUWAL: YOU’RE THE HERO OF THE CONVENTION several engagements were held with various stakeholders across the length and breadth of the country on the subject to foster understanding, mutual respect and oneness.

The 17 Southern governors, also in a declaration after their meeting in Asaba, Delta State, in May 2021, backed the rotation of the presidency to the South in 2023.

Thus, the Forum in a statement yesterday and jointly signed by Senator Bassey Ewa-Henshaw (PANDEF/South South); Ambassador Okey Emuchay (Ohanaeze Ndigbo Worldwide/ South East); Comrade Jare Ajayi, (Afenifere/South West); Dr. Isuwa Dogo (Middle Belt Forum) and Hon. Ken Robinson, (Acting Coordinator SMBLF), expressed regret that it appeared the unity and peace of Nigeria meant little or nothing to a segment of the nation’s political elite.

"This was evidenced in the PDP special convention, which was held on Saturday, 28th May 2022, where certain candidates from the North were pressured, coerced, and even intimidated to step down for former Vice President, Alhaji Atiku Abubakar, who eventually emerged as the flag bearer of PDP, in utter derision of the established principle of zoning and rotation of power between the north and south.

"Undoubtedly, the singular motive is to perpetuate the hegemony of the North given that President Muhammadu Buhari, a Muslim from the North and of Fulani origin will be completing his full tenure of eight years by this time next year.

"SMBLF, therefore, totally REJECTS the candidacy of Alhaji Atiku Abubakar of the PDP and calls on our people of Southern Nigeria and the Middle Belt as well as all true lovers of peace and unity NOT TO VOTE for him or any other Northerner in the 2023 presidential election, in the interest of posterity."

Peterside: Wike Wasted Rivers’ N30billon on presidential primary A former Director General, Nigeria Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has expressed sadness that despite allegedly spending about N30bn of Rivers' funds, Peoples Democratic Party (PDP) delegates still rejected the Governor Nyesom Wike of the state.

Peterside, who also congratulated Atiku in a statement, stressed that the outcome of the PDP presidential primary was a proof that, "Wike has shown lack of requisite experience and depth to compete in national politics."

He advised Wike to "quickly return home, shade off his toga of pride, and submit himself to Atiku to be tutored on the dynamics of national politics and the angles to hi-wire deals".

Peterside lamented that giving away about alleged N10bn of public funds in unsolicited charity to states, and about N20bn pursuing his ill-fated presidential bid, confirmed his earlier stance that Wike’s governorship was among Rivers State’s worst era since 1967.

"That Wike could dip his hands that deep into Rivers' treasury to pursue his vaunting ambition is a confirmation of my earlier assertion that Wike’s governorship represents our all-time low moments since the state was created on May 27, 1967.

"I wonder how Wike sleeps at night with Rivers' pensioners going to bed hungry, and sizeable number not waking up again out of frustration. For his personal ego and ambition, he preferred to lavish billions of naira on delegates than attend to those senior citizens.

"Rivers State is so blessed yet our people are leaving in untold hardship and experiencing underdevelopment, because of Wike’s visionless administration

of state resources.’ Peterside added.

Nwobodo: Atiku Capable of Restoring Unity, Security, Economy Elder statesman and former governor of old Anambra State in the Second Republic, Jim Nwobodo, has said the presidential candidate of the PDP for the 2023 elections, Alhaji Atiku Abubakar, has the ability and tenacity to restore the unity, security and economy of Nigeria if elected president.

In a congratulatory message to Atiku, Ayu and the stakeholders in the party on the successful conduct of the election and the emergence of Atiku, Nwobodo said the PDP victory was for all Nigerians.

Encouraging the candidate to follow through with his acceptance speech, Nwobodo, who also served as Senator between 1999 and 2003, enjoined Atiku to reunite all aggrieved members of the PDP, who left the party into their fold just as he asked other contestants of the presidential ticket to rally round him for victory at the polls.

"I congratulate Alhaji Atiku Abubarkar, Waziri Adamawa, on his resounding victory as the flag bearer of the Peoples Democratic Party, PDP at yesterday's primaries.

Congratulations to our national chairman, Dr. Iyorcha Ayu, for his leadership in achieving a successful, transparent and peaceful primaries election.

“I also congratulate the Convention Committee Chairman, Senator David Mark and my Governor, Ifeanyi Ugwuanyi and his deputy. I congratulate all the other aspirants, who contested with Atiku for their spirit of sportmanship and appeal to them to rally round the flag bearer, as this success is success for all of them.

"Atiku's victory is victory for PDP and victory for Nigeria in general. Atiku has the ability, the temperament and the tenacity

to restore the unity, security and economy of Nigeria without which a country does not exist.

I encourage him to follow through with his acceptance speech, to reach out to all the aggrieved members of our party who left the party and bring them back to the PDP family".

Elumelu: Atiku’s Popularity Beginning of PDP’s Historic Journey The Minority Leader, House of Representatives, Hon. Ndudi Elumelu, has congratulated former Vice-President Atiku Abubakar, on his election as the presidential candidate of the PDP for the 2023 general election.

Elumelu, in a statement, commended all the other presidential aspirants at the presidential convention for their courage, patriotism and remarkable spirit of sportsmanship, which they displayed throughout the consultation period up to the convention.

He opined that Atiku's emergence, with his excellent performance record and unmatched popularity across the nation, signaled the beginning of PDP’s historic journey back to power in 2023 to commence the process of rescuing, reuniting, redirecting and rebuilding the nation from the ashes of the misrule of the APC led government.

"There is no gainsaying the fact that all our presidential aspirants are eminently qualified and that their aspirations were driven by patriotism in line with the mission of the PDP to rescue our nation from the catastrophic misrule of the vicious, corrupt and incompetent All Progressives Congress (APC).

“However, the delegates have spoken and resoundingly so in electing His Excellency, Atiku Abubakar as the Presidential standard bearer to lead our Party and indeed Nigerians to victory in the 2023 Presidential election.”

Also, Elumelu, on behalf of

the people of Aniocha/Oshimili Federal Constituency and Deltans in general, congratulated Governor Ifeanyi Okowa of Delta State on the occasion of his 7th anniversary in office.

Elumelu, said within these seven years, God has used Okowa to bring about all-round transformation in all sectors of the economy of the state, through his intensive implementation of his unique and well-thought-out Smart Agenda and Stronger Delta mantra.

Imansuangbon: Atiku's Candidacy Red Flag to APC, Buhari A chieftain of the PDP and former governorship aspirant in Edo State, Mr Kenneth Imansuagbon, has described Atiku's candidacy as a red flat to President Muhammadu Buhari and the ruling All Progressives Congress (APC), adding that now that the primaries were over, the PDP must come together as a strong and united party to send the rudderless APC government packing come 2023.

He also said the emergence of the former vice-president, as the PDP standard bearer signposted the reaffirmation of his nationwide acceptability to rescue Nigeria Imansuangbon, who stated this in his congratulatory statement, made available to newsmen in Benin City, Edo State, appealed to Nigerians to cue behind Atiku to change the negative narrative of underdevelopment and economic woes.

"I heartily congratulate former Vice president Atiku Abubakar and all our PDP delegates for voting massively for the candidacy of Atiku as our flag bearer. As a party we have demonstrated that PDP is the only true Democratic Party that is desirous to correct all the maladies currently faced

by Nigerians.

"The PDP has once again shown by the conduct of its presidential primary in Abuja on Saturday that it is the answer to the setback

that Nigerians have encountered with the coming into power of the All Progressives Congress (APC) since 2015.

"We cannot wait to see Alhaji Atiku Abubakar assume office as the country's next president whereby he will bring in his chains of people oriented programmes that are fashioned towards getting us out of the hordes of crisis we face daily."

Obaseki Congratulates Atiku, Says PDP a Transparent Party Edo State Governor, Mr. Godwin Obaseki, has congratulated Nigeria's former Vice-President, Atiku Abubakar, on his victory at the PDP presidential primary election, saying the party has proven to be transparent.

In his message, the governor hailed other aspirants, who submitted themselves to transparent democratic exercise that has set the PDP as a worthy example to all other political parties in the country.

He said, "I heartily congratulate His Excellency, Atiku Abubakar (GCON) on his victory at the Peoples Democratic Party Presidential primary election.

"The keenly contested process of picking a flagbearer for our great party has again shown the PDP as a party that has enthroned a transparent internal democratic process, which is what our nation now desperately needs for its much-desired rebirth.

"I also hail all the other aspirants, who have submitted themselves to this transparent democratic exercise that has set the PDP as a worthy example to all other political parties in the country.

"The beauty of it all is that the party has put in clear display it's maturity, strength and poise and this is now the time for all aspirants and other stakeholders in the party to pull together as we embark on this all-important mission to rescue Nigeria.

Congratulations," he said.

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NEWS

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

LAUNCH OF MARCELLE RUTH FRIENDS CANCER SUPPORT GROUP...

L-R: Managing Director/CEO, Hairvolve, Mrs. Ocheche Ogunjulugbe; Chaiman/Founder, Marcelle Ruth Cancer Centre, Mr. Bolaji Odunsi; Chairman, Marcelle Ruth Friends Cancer Support Group, Engr. Godwin Ibe; CEO/Co Funder, Marcelle Ruth Cancer Center, Dr. Modupe Elebute Odunsi; and the Director of Nursing, Mrs. Kemi Ogunyemi at the launch of Marcelle Ruth Friends Cancer Support Group held in Lagos ...recently SUNDAY ADIGUN

Avuru: Those Who Cut Corners Find It Easier to Get Regulatory Approval in Oil Industry Alleges judiciary tool in the hands of lawbreakers Insists Nigeria’s regulatory environment steeped in corruption, nepotism Emmanuel Addeh in Abuja Pioneer Chief Executive Officer of Seplat Energy, Mr. Austin Avuru, has alleged that those who cut corners find it easier to get regulatory approval than those who obey the country’s laws in the oil and gas industry.

Releasing excerpts from his book, “My Entrepreneurship Journey,” scheduled to be launched in August, Avuru who reflected on his over 40 years in the industry, noted that while regulatory effectiveness was critical, in Nigeria, operators get punished for doing the right thing.

He explained that a fair industry regulator encourages a free-market economy as it supports fair competition, rewards efficiency, punishes bad and illegal practices and generally promotes value creation.

“But in Nigeria, and in our industry, sometimes you get punished for doing the right thing and too often your competitors smile home with higher rewards because they are allowed to cut corners,” he alleged.

In twisting the rules to suit certain interests, the Chairman AA Holdings noted that assets that although licence renewal was a discretionary nominal sum imposed by the Minister of Petroleum Resources, in 2019, the regulator decided to calculate the fee based on reserves.

“When Seplat Energy bought our assets in 2010, the working interest 2P reserves was 71MMBO. By 2018, after spending some $3 billion, we had increased operated production from 14,000BOPD to 65,000BOPD and quadrupled reserves to 283 MMBO. “Our competitors who acquired assets with three times our reserves size, but who had done nothing to increase production or add to their reserves ended up paying the same renewal fee as us! We were punished for our exemplary investment drive and efficient operation of our asset, leading to substantial value addition,” he alleged.

He noted that while the company was expecting some rewards for its efforts, and as incentive to motivate others, which would have made its renewal practically free, it was literally extorted.

He said while Seplat Energy would pay all its statutory dues promptly, including royalty, taxes, lease rentals, flare penalty and even debt servicing obligations, it benefitted nothing while its competitors got away with failure to make the payments, sometimes for years.

“While you are struggling to balance your books, your less efficient competitors are awash with cash,” he alleged.

Stressing that the industry regulator was selective in dealing with operators in the sector, he explained that due to extremely high operating and capital costs the some operating companies were perpetually in the red.

“All the financial rewards are taken up at the level of rendering services and executing contracts.

The efficient company like ours becomes the ultimate loser,” he stated Avuru alleged that all of these anomalies happened and were in fact prevalent, because of a business and regulatory environment that was steeped in corruption, nepotism and sometimes just sheer incompetence.

“In almost all cases, those who cut corners find it easier to obtain regulatory approvals,” he pointed out.

The geologist stressed that even in cases of asset divestments by international oil companies (IOCs), the company had been involved in transactions where it ticked all the boxes, particularly in demonstrating ability and readiness to pay, whereas another party is chosen which is unable to pay.

“Between 2014 and 2016, we had over $750 million tied down on two assets that we paid for but could not secure regulatory approval for. Eventually we had portions of these monies refunded

to us, but over $200 million remains unrecovered till date.

“But, perhaps the most injurious government segment to productive entrepreneurship and the entrenchment of good corporate governance in Nigeria is the judiciary.

“Too often, the judiciary has become a valuable tool in the hands of those who cut corners to hunt, harass, or simply torpedo the activities of genuine entrepreneurs working to create lasting value.

“After we won OML 53 in a bid conducted by Chevron in 2013, a bidder who did not win sued the sellers and held all of us to ransom for two years way to the Supreme Court just to vacate the injunction! It took

another three years to finally extinguish the case.

“Usually, the suing party has very little to lose, other than legal costs, while you have hundreds of millions of dollars tied down in an asset you cannot take possession of because of the court's injunctive orders.

“Even a simple trade dispute could result in a court shutting down your offices or blocking all your bank account,” he added.

According to him, the sheer knowledge that one’s investments could be totally destroyed by some treacherous judicial pronouncements with a party that was perceived to have the backing of those who will give the approvals, was simply discouraging.

Avuru noted that in geographies where regulations are firm and effective, it would take no more than five years for such businesses to unravel, whereas in Nigeria, it takes as long as 30 years because of the weaknesses within the system.

He observed that in the next 10 to 15 years, although their promoters might amass a lot of wealth, the businesses that fail to build a culture of proper corporate governance would drop off the race while the businesses themselves could collapse.

He also lamented a situation where the chairmen of some oil companies turn out to be the “big man” with a large ego who perceives himself as the big boss to whom the management team,

led by the CEO, reports.

“The board is responsible for the strategic direction of the company and supervises management performance using the appropriate governance structures in place.

“But very often the chairman assumes the clothing of the board, with the CEO reporting to him, as he takes on several executive decision-making roles. This has often led to unproductive tensions and power plays between the CEO and chairman,” he said.

According to Avuru, 20 per cent of his productive time in the industry was spent managing his relationship with the chairman of his company and in some cases by extension, his relationship with the board.

Pat Utomi: EFCC Should Investigate Aspirants, Businesses over N100m Nomination Form James Sowole in Abeokuta A renowned economists, Prof Pat Utomi, yesterday challenged the Economic and Financial Crime Commission (EFCC) to beam its search light on all politicians that paid N100million to purchase nomination forms, probe the types of businesses they do and amount of taxes paid to government.

Utomi threw the challenge while speaking at the 56th World Communications Day, held at Ss. Peter &Paul Catholic Cathedral, Itesi, Adatan Road, Abeokuta with the theme: “Journalism of Empathy in a Troubled Nation".

The political economist blamed all challenges facing Nigeria as a nation on leadership failure.

He said, "We have a nation whose leaders are deaf. Some Nigerians cannot afford one decent meal daily and our leaders 'play games with N100 million for nomination forms.

"Nigeria, today is in trouble because the culture of dignity

and integrity has collapsed. We celebrate money. If care is not taken, very soon, Nigeria would be ruled by criminals and rogues."

He, therefore, said Nigerian media should rise up to their responsibilities to salvage the country and our culture from collapse saying "We should pay enough attention to happenings in the society."

On his part, the Editor-inChief, Vanguard Media Limited and Provost, Nigeria Institute of Journalism, Ogba, Lagos, Mr. Gbenga Adefaye, charged journalists to be professional in discharging their duties.

He called on the Catholic Church to do more in sensitising the public on their duties, responsibilities to nation building.

While positing that journalists are handicapped with different government policies militating against free journalism, Adefaye charged media professionals to discharge their duties, guided with social responsibility.

The Chairman of the occasion

and Ogun State Commissioner for Information and Strategy, Alhaji Waheed Odusile cautioned journalists against giving false news that can ignite chaos, and unrest in the country.

He urged them to always verify the authenticity of news before publication, saying that there are always a consequence for any wrong information release to the society either deliberately or innocently.

Earlier, the Bishop, Catholic Diocese of Abeokuta, Rev. Peter Odetoyinbo, called on Nigerian journalists to be bearers of good news that will promote peaceful coexistence and good neighbourliness among Nigerians.

Odetoyinbo, who made the call, during his homily, said journalists must put the interest of the nation first while discharging their duties.

He lamented the wrong use of different platforms of communication by Nigerians for spreading falsehood, lies, fake news, and pseudo-truth on various issues, stressing

that this has caused more harm and disunity to the peaceful co-existence in the country.

He said, "Indeed, we live in an age of fake news', a sad reality caused by our inability to be truly concerned about helping, our inability to be patient enough to listen and know the truth of a story.

"The events of our country in recent times, evident in the incessant and heartless killing of innocent souls, kidnapping, maiming, religious and political tussle, and many more, call us to reevaluate our sense of listening.

We have indeed been deaf to one another.

“We have sacrificed love and concern for one another on the altar of selfishness. We have closed our ears from hearing the truth of our existence, covered our eyes from seeing the plight of those we are called to help, and sealed our mouth from speaking against the evils of our land. All of these are due to the sad truth that we have stopped listening with the ears of our heart.

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ACCESS BANK LBS MOU...

L-R: Head, Project and Structured Finance, Access Bank, Gavin Greenway; MD/CEO, Access Bank, Roosevelt Ogbonna; Chief Operating Officer, Lagos Business School (LBS), Charles Ivensom; and Deputy team lead, Sunref, Charles Egonye, during the MoU signing agreement between Access Bank and LBS on the LBS 350kw and 152kwh hybrid power solution project in Lagos... recently

After Gulping CBN’s N1.3trn Intervention Funds, Power Sector Needs to Be Self-sustaining, Say Stakeholders Emmanuel Addeh in Abuja After disbursing about N1.3 trillion to the power sector in the last five years, industry stakeholders have stressed the need for the sector to be selfsustaining from intermittent Central Bank of Nigeria (CBN) intervention.

However, the experts stated

that the sector would have collapsed without loans and interventions by the apex bank in the last few years, commending the bank for the initiative.

In the last couple of years, the CBN had launched the N300 billion Power and Aviation Intervention Fund (PAIF), the Nigerian Electricity Market Stabilisation Facility (NEMSF)

Obaseki Sets Up Drugrevolving Funds Committee Edo tasks workers on performance, efficient service delivery The Edo State Government has inaugurated the Drug Revolving Fund Committee to improve the supply of drugs and address drug shortages in Primary Healthcare Centres (PHCs) across the state.

A statement quoted Edo State Commissioner for Health, Prof. Obehi Akoria, to have said the move would assist the government to achieve sustainable drug supply for PHCs in the state.

She noted that setting up of the committee was in line with the Obaseki-led administration’s efforts to strengthen the health system and enhance access to efficient, quality and affordable healthcare.

The Commissioner disclosed that the inauguration of the committee for the Edo State Primary Healthcare Development Agency fell within the ambit of medical products and technologies and would guarantee a more resilient healthcare system in the state.

Akoria said the mandate of the committee was to ensure the sustainable supply of medicines and related commodities that meet the healthcare needs of all citizens in PHCs, served through efficient, transparent, accountable and equitable systems.

She further expressed appreciation to Obaseki for approving the setting up of the committee.

Chairman, Edo State Drug Revolving Fund Committee,

Dr. Otaniyenuwa Obarisiagbon lauded the initiative, pledging to work with other members of the team to deliver on their mandate and ensure quality-assured health supplies are consistently available to patients in PHCs. Meanwhile, Edo State Government has tasked workers in the state to reciprocate the kind gestures of the state governor in the wake of the increment of the minimum wage in the state from N30,000 to N40,000, by ensuring effective delivery of quality service to Edo people.

The Edo State Head of Service, Anthony Okungbowa, was quoted in a statement to have charged the workers to remain productive and committed to carrying out their duties.

Okungbowa said the Obaseki-led government remained committed to the welfare of workers and pensioners in the state and would sustain programmes and initiatives to improve the living standards of the workers and Edo citizens.

He said, “The Governor Godwin Obaseki-led administration is committed to improving the welfare of workers as the government identifies the civil and public service as the fulcrum of good governance and as such is initiating policies and programmes to ensure that they are positioned for optimal service delivery.”

amounting to N213 billion and the N140 billion Solar Connection Intervention Facility.

In addition, it has paid over N600 billion tariff shortfall intervention to ensure stability in the sector as well as a recent N120 billion intervention designed for mass metering.

“We have disbursed over N1.3 trillion in the last five years to support the sector through the generators or Discos or to acquire equipment, buy meters or to improve what is being paid to electricity generating companies so that they can continue to pay for their gas,’’ CBN Governor, Godwin Emefiele, said recently.

In his intervention, Associate Director, Energy, Utilities and Resources at Pricewaterhouse Coopers, Habeeb Jaiyeola, insisted that providing financial support to industries, especially the power sector remained a welcome development.

However, he highlighted the need to ensure that the facilities are duly paid back, saying that the government’s continued support to power sector would have an overall impact on the sector to facilitate the required progress.

He urged the authorities to clearly outline and monitor the interventions to ensure it achieved projected objectives, adding that the national mass metering programme for instance

may be needed to be checked against some of its set objectives in terms of coverage, availability, and completion time.

He said: “An assessment of the impact of intervention funding in the power sector also needs to be looked into. While government intervention continues to be an important sector catalyst, monitoring impact will ensure government scarce resources are appropriately channelled for the benefit of Nigerians."

According to him, infrastructure funds are used world over for the development of critical infrastructure which guarantee constant returns on investment, adding that a critical element of the success of the funds was adequate planning and strategic contracting.

He added: “The world over, government interventions are used to catalyse economic development. In many cases government interventions are quite critical in controlling cost of borrowing in developing sectors.

“The CBN intervention remains a positive tool for the development of the domestic gas sector. However, the payback has to be enforced to ensure the fund remains available for further critical interventions.”

Jaiyeola stated that to achieve sustainable growth, interventions alone cannot be the solution, adding that an appropriate

pricing system needs to be instituted to enable the forces of demand and supply determine price and enable adequate returns on investment.

Also, an energy expert, Prof.

Wunmi Iledare, noted that while interventions by the CBN as a repayable loan was understandable, the current structure of the electricity market in the country could mar the interventions.

Also, an economic analyst, Stephen Kanabe said the intervention by the apex bank in the distribution segment of the nation’s power sector, especially metering would contribute to significantly reduce the lingering challenges of poor infrastructure and arbitrary billing of end-users.

Former Chairman of the Nigerian Electricity Regulatory Commission (NERC), Sam Amadi had also noted that though the CBN intervention remained a special funding to deal with liquidity crisis and legacy debt in the sector, it would be repaid through a convenient process that would not adversely affect the sector’s investment plans.

“The gains of the fund are two fold: whether CBN is getting repayment as and when due, I think through the escrow the CBN can guarantee itself repayment. But the bigger issue is whether the fund has improved the operations of the Discos,”

he stated.

The apex bank had recently noted that a total of 300MW capacity increase was reported as a result of fund utilisation towards the rehabilitation of plants.

It listed the rehabilitation of seven gas turbines at three major thermal power plants namely: Geregu, Transcorp Ughelli, and Ibom power plants as recent breakthroughs.

In addition, it stated that the intervention had enabled the Distribution Companies (Discos) to provide bank guarantees to the Nigerian Electricity Bulk Trader (NBET) as well as purchase over 171,071 units of meters comprising both maximum demand and single phase meters.

Added to that, it listed the rehabilitation of over 332kms of 11KV lines and 130km of 0.45KV lines; procurement of over 70,310 500 KVA transformers and construction of 34 new distribution substations as well as acquisition of one mobile injection substation as results of its intervention.

On PAIF, it noted that the objectives include fast-tracking of the development of electric power projects, especially in the identified industrial clusters in the country; improve power supply, generate employment and enhance the living standard of the citizens.

FG Introduces New Policies on Procurement Processes Okon Bassey in Uyo The federal government said a new policies and innovations to alter existing procurement value chain for improved procurement and budget implementations has been introduced.

It said the revised methods included Request for Quotation as well as introduction of electronic documentation and packaging of contract procedures.

The Director General, Bureau of Public Procurement (BPP) Mallam Mamman Ahmadu disclosed this at the weekend while at a two-day retreat for Federal Permanent Secretaries held in Uyo weekend.

The retreat had as it theme, "Strengthening Public Procurement for Optimal Effectiveness."

According to him, the better understanding of the new thresholds would make procurement implementation much easier for accounting officers and remove prior regulatory scrutiny on the permanent secretaries.

The DG further said the eprocurement system had been developed by the Bureau in partnership with the World Bank and 10 Ministries , Departments and Agencies selected as Pilot Procuring Entities before the full roll out of the e-system service wide.

He emphasised that one of the objectives of the retreat was to improve procurement implementation in Nigeria and ensure effective execution of annual budget.

"It is rewarding to note that tremendous improvements have been recorded in public procurement process over the years.

"However, there is need to do more to maximize on the gains already recorded and to close gaps on the lapses,” he said.

In her remarks, Head of Service of the Federation, Folasade Yemi- Esan urged the permanent secretaries to demonstrate commitment towards addressing the capacity gaps of all officers involved in procurement cycles .

"This can be done by ensuring frequent training, retraining, tooling/retooling and Performance assessment.

"In line with international best practices and the peculiarities of procurement processes, we

must embrace the emplacement of E-procurement practices and private sector participation."

Akwa Ibom state governor, Mr Udom Emmanuel said the state government was prepared for reforms of procurement services through the enactment of public procurement laws by the state House of Assembly.

Emmanuel, who was represented by the Deputy Governor Mr. Moses Ekpo stated that the state government had domesticated the regulated procurement culture in the affairs of the state .

"Prior to the enactment of the procurement Act , corruption was in procurement according to reports accounted for large fractions of government total budget."

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17 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

How Tambuwal Removed the Carpet from Wike’s Feet to Enthrone Abubakar

Chuks Okocha captures the intrigues that gave the Peoples Democratic Party presidential ticket to former Vice President, Atiku Abubakar and ensured the defeat of Governor Nyesom Wike

Abubakar

Wike

T

he victory of former Vice President, Atiku Abubakar at the presidential primary of the Peoples Democratic Party (PDP) at the weekend in Abuja did not happen by a stroke of luck.

Rather, it was a well articulated decision by Northern stakeholders to retain power by having another Northerner after eight years of President Mohammadu Buhari.

delegates, Atiku and the northern establishment were plotting how presidential aspirants would step down for the chosen one.

The calculation was that the Sokoto state governor should step down for Atiku to enable him focus on the Sokoto south senatorial seat.

The incumbent senator, Senator Danbaba who sensed the hand writing on the wall had defected to the APC, to enable him face Tambuwal at the senatorial election.

The issue was when will the governor announce his stepping and it was agreed that it should be at the venue of the presidential nomination convention. The aim was that it will douse the already electrified support of Wike.

On the other hand, Bala Mohammed had refused to step down for Abubakar, insisting that he would fight to the end, which he did.

However, he discretely asked his delegates to vote Atiku Though, the investment banker, Mohammed Hayatu-Deen was prevailed upon to step down, he

The intrigues The game changer was the governor of Sokoto state, Aminu Waziri Tambuwal and others that discretely stepped down for Atiku before voting started at the presidential nomination convention.

Before the convention kicked off, there were series of horse trading that swung the tide in favour of the former Vice President.

Top northern stakeholders of the PDP had weighed on the two governors: Tambuwal and his counterpart from Bauchi state, Bala Mohammed. Both men were presidential aspirants, as well as, Mohammed Hayatu-Deen On Thursday and Friday preceding the convention, it was already clear that some of the Northern presidential aspirants would step down for Abubakar. Whereas, the governor of Rivers state, Nyesom Wike was seen as buying

Saraki

Emmanuel

however chose to do it in his own way by blaming it on the excessive display of money by his fellow aspirants. He dropped his letter of resignation from the presidential race barely hours to the commencement of the convention.

The position of the PDP northern stakeholders was masterminded by the former National Security Adviser, General Aliyu Gusau and the former governor of Sokoto state, Attahiru Bafarawa.

At the convention venue when all the presidential aspirants had spoken for the allotted five minutes, that they were allowed to speak to the delegates and the voting was about to commence, Tambuwal mounted the rostrum and there was complete silence. The environment was so quiet that one could have heard the drop of a pin.

Every one was anxious to hear what he wanted to say. The timing was perfect. This was because it dwarfed the noisy supporters of Wike who were still dancing and jubilating after his five minutes address to the delegates. Then, came the clincher, the Sokoto state governor picked the microphone and announced his withdrawal from the race.

He equally urged his supporters among the delegates to vote for the former vice president of Nigeria, Atiku Abubakar. Many were surprised

because Wike stood by him in 2018 when he contested and came second.

According to him. “Time has come for us to make sacrifices in the interest of our party and our nation. I have come to the conclusion that I have to step down “Having consulted so many people across the country, the time has come to make the sacrifice for the good of the country and the party and also to minimize rancour and justle for power among aspirants. I have come to conclusion to step down from the race. I urge my supporters to vote for Atiku Abubakar.”

On his own part, Governor Bala Mohammed, though had refused to withdraw, sent words round to his coordinators that they should vote for Atiku.

That was all that was needed to break Wike’s supporters. At the convention, Wike was sure that he will carry the day. In fact, when he entered the indoor sports complex of the MKO Abiola Stadium, his supporters were uncontrollably noisy. The situation almost got out of hand, when he went round to acknowledge greetings from the delegates NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

APC Presidential Primary: Gale of Endorsements for Fayemi Goddy Egene highlights the espoused values of All Progressives Congress Presidential aspirant and Governor of Ekiti State, Dr. Kayode Fayemi

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n the next few days the ruling All Progressives Congress (APC) will hold its special convention to elect the party’s flag-bearer for the presidential election next year. It is a weighty decision to make for the delegates who must decide whether Nigeria will move forward with new ideas on a new paradigm or remain with the jaded past that has produced the problems we face today as a nation.

The party has a rich array of aspirants for the election, but the ticket must neither be treated as a lottery to be given to just anyone who can tell a fancy story or an object in an auction for the highest bidder. It must be taken as a sacred mandate to sell the APC to Nigerians as a viable vehicle for the continued reformation and development of Nigeria. The party must resist the urge to see itself in the mould of a parastatal given to the same staid outlook of traditional Nigerian politics. It must interrogate the competing visions of the aspirants, where they have clearly made their positions known and make a choice for the betterment of the nation.

Those essentially are the positions of Governor Kayode Fayemi, one of the leading presidential

Fayemi

aspirants for the APC’s ticket who has continued to receive endorsements from party stakeholders. Dr Fayemi who holds a PhD in War Studies and has done great work in civil society organisations, academia and journal-

ism, easily needs no introduction. He was the director of research in the 2014 APC presidential campaign that delivered the presidency to the party in 2015. He is a two-term governor of Ekiti State and was Minister of Mines between 2015 and 2018. He is, if you may, a dye in the wool progressive. And as he made his campaigns across the country, the governor was not shy to speak of his progressive credentials and why the party should have him as its candidate. His work in unifying and leading the Nigeria Governors Forum (NGF) at a time of deep ethnic, religious and political divisions has been praised across the country.

His pacifist, unifying and positive message contrasts sharply with those of the other aspirants who have whipped up sentiments to demonize one another. In Osogbo, he told the delegates not to be worried about the perception that contestants from the South-west were at each other’s throats: “We are sons and daughters of Oodua, and our values remain constant. We are leaders in the progressive movement, no one is not eminently qualified right from our leader, Bola Tinubu, the VP, Professor Yemi Osinbajo or Senator Ibikunle

Amosun even Reverend Tunde Bakare…we are driven by the same beliefs, passion and commitment to improving the condition of our people, that is what is driving us.”

He has said repeatedly that his being in the race is not to fulfil an ambition for the sake of it but based on his clear appreciation of where Nigeria needs to go and what the country needs to do to achieve greatness. To him, the contest is not about ambition or acrimony with other aspirants but about marketing their competing visions for the country to delegates.

This clear-headed communication has won Fayemi support from members of the party across the country who see in him a man who can unite the party going into the presidential election and paint a new picture of the APC as a party poised to right the wrongs in the country. It has even won Fayemi endorsements from opposition politicians who see in him a unifying figure with his head on his shoulders.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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INTERVIEW

Bello-Koko: Aiming to Make Nigerian Seaports Most Efficient in Africa The quest to achieve seamless port operations in Nigeria is undoubtedly a daunting challenge, but the Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, is unruffled. His optimism is hinged on the emphasis placed on staff welfare, automation and dedication, which would provide the cushion to accomplish this ideal. In this exclusive interview with Eromosele Abiodun, Bello-Koko listed some of the achievements recorded in his first 100 days in office to include the rehabilitation and inauguration of the Port Training School (PTS), remittance of N45.08 billion to CRF, furnishing and equipping of control towers (LPC and TCIP), deployment of newly-acquired pilot cutters and patrol boats to the Eastern ports, establishment and licencing of 10 export processing terminals, acquisition and deployment of motorcycles to monitor and enforce traffic regulations along the Apapa corridor and many more. Excerpts!

The NPA recently announced a massive improvement in revenue collection with the Authority remitting a whooping N45.08 billion to the CRF. Our readers will like to know what you have done differently that made this feat possible.

Thanks. The first thing we did was to improve the collection mechanism and I said it before that we hold the port managers responsible for revenue generation and we are holding regular virtual meetings. But what we now did was to tell our clients that they needed to pay us on time, pay us or we withdraw their services, and then we minimised cost. Cost minimisation was very key. So, it means if you reduce cost, you are increasing the likely surplus that you will transfer to CRF. We did not minimise cost in areas that were relevant and necessary. We cut down on expense heads we felt (in this year) we needed to slow down spending on.

So, we started by prioritising more. We have always prioritised, but there is more prioritisation this time around. Also, we paid attention to spending on things that will also increase revenue, things that would endear the ports to users. Consequently, there is less debt now than it used to be because we are all getting personally involved in terms of collection. The NNPC was owing the NPA almost N30 Billion and this month we forced them to pay 7 Billion. The NNPC has this 50 per cent rebate and then you we do periodic reconciliation and then they pay. Since 2019, NNPC had not actually paid us, but we have pushed them and decided that they have to pay, or we will stop service.

We have become more aggressive, holding regular meetings and there are no formalities, you just pick up the phone and call the port managers and say where is the money. Same with The JV the Nigerian Petroleum Development Company (NPDC) has, those that are actually operating the fields have been owing us and we made it clear to NPDC that they need to pay. Some of them just paid and the IOCs have not been paying for so long, Chevron and co. So we have made it very clear that they have to pay and in time . And we have become more aggressive in our revenue collection. We have blocked leakages.

In the months ahead, the NPA will remit more revenue to the Federal Government when the Lekki Deep Sea Port takes off.

Let us take a look at the Lekki Port and how it is going to enhance revenue and boost port efficiency What is most likely to happen is that some of the cargoes that currently come into Lagos Apapa port and Tin Can port will move to Lekki. What I am technically saying is that it is the same cargo that is moving, but what we expect in the first two to three months when they start operations is that some of the cargoes we have been losing to ports in neighbouring countries will start coming here, and that is where the increase would come from. And once Lekki port starts operation , everyone will see that they are more efficient, which means that they have the capacity to become a hub.

We have also started discussions with them in terms of applicable tariffs especially for transit cargo. For any port to be a viable transit port or a hub, any cost, if not carefully watched, would make it unattractive.

Therefore, we are working with them to ensure that there is a minimum charge that would encourage someone that has cargo going to the Benin Republic or other counties to bring it here before trans-shipping it to any other country. So we expect that increase not immediately, but maybe three months after they start operations because of the larger capacity they have and also because of other transit cargo they would be handling.

How soon will the Lekki Deep Seaport be coming on stream?

Their cranes are actually arriving this June and they would install them and their target of September, I think is still feasible. So, the first test-run will be in September and commercial vessels will be used to test-run. We are already constructing the 80 Bullard pull Tug boats that would be necessary for use in that location and other marine vessels that are needed there.

How much of a change will this Lekki Port bring about in terms of cargo and efficiency?

The first thing is that the Lekki port will be the first port that is fully automated with little human interference in terms of port operations, that’s is documentation, cargo clearing etc. .

They have also created an office where you do your documentation and everything in a separate location just outside the actual port . They have locations for reefer and containers for perishable goods. And for the first time in Nigeria, we are going to have a port that is going to have ship to shore cranes that can at once load or offload 20 to 40 containers on one movement instead of picking them one by one or two by two. You see, that is efficiency. Less ship waiting time, improved berth occupancy.

Also, the kind of vessels they would be bringing in are larger in size meaning they would pay more, the economies of scale will naturally set in and it also means that the cost of doing business at that port for importers and exporters will be lower. They will be handling containers, General cargo and eventually Liquid bulk cargo in that location. Employment will be created and there will be boost in economic activities.

The game-changing aspect of it here is that every other terminal operators now have real competition because as an importer, I will rather go to a port where I will get my goods out quickly because the port has new equipment, better efficiency and automation and from my bedroom, I can transact with them and go and pick my container whenever it is ready.

What changes also is that these terminal operators are now having discussions with NPA & FMOT on how to rehabilitate Apapa and Tin Can ports to also ensure that they can compete favourably with Lekki. But finally, what will change is turning that place into a hub because they have both liquid bulk, general cargo and containers and they are very serious about what they are doing and they are also in a free zone, which is an added advantage in terms of reduction in cost.

Recently, you moved around some of the Eastern ports as part of your efforts to turn around activities at those ports. Can you also give us an update and tell us about your efforts to meet stakeholders’ expectations?

One of the things we have done along with the FMOT is to hold stakeholder meetings, which took place in Port Harcourt. We have been engaging stake holders . The essence here is to let people understand that it is not just Lagos ports we have and psychologically, I do not know why people just think the only ports we have are in Lagos.

People need to understand that we have ports in the East and they are operational. So apart from selling the ports to them, it’s also to encourage them to import and export through the other ports, we have to make sure that the ports are also operational.

So, if you take only Delta port and the main issue with it, is the collapsed breakwater, and I am very sure that very soon, the design for reconstruction and rehabilitation of the breakwater will be ready.

It collapsed about 10 years ago. They have been doing the bathmetiric and other studies and these studies will soon be ready. But the first thing is to also ensure that we do remedial dredging from the fairway bouy the entrance of rhe breaker and further to the warri port, which the Federal Government approved, and it is already ongoing at 80 per cent. They will soon finish it and when they finish, that means we will be able to maintain that 7- 7.5m draught that has always been there.

Because siltation was so high because of the collapse of the breakwater, some locations locations around the channel was about 5m which makes it quite difficult navigate . We were having many cases of vessels going aground which made it difficult for vessels to maneuver or come to port unless on high tide and there is something that they call nip tide that for almost a week, the tide will not come up. So, we were depending on when tide is

high. Apart from that, channel has not been mapped properly and surveyed. What we have been surveying probably once in a while is from the fairway buoy to the Warri Port, but there is a lot of marine activity and businesses from the fairway buoy to Koko and Sapele.

All those places have not been marked for probably over a decade.

The essence here is for us to understand the drafts in that location and work towards either dredging it.

Something has to be done and by that way, you make those places more viable and there are so many tank farms there that are in need of deeper draught for them to bring bigger vessels and I believe that there are locations there that can be used for marine logistics.

It is a very viable location. We have also very recently deployed more marine crafts boats to that location. We have a third party towage company we have asked to bring in more tug boats to provide towage in order to make it easier for vessels coming in.

We are working with the Nigerian Navy to help us secure our signal stations because communication is very important. Pilots that are bringing in vessels to that location need to have very good communication and that channel is very long, which is about over 100km from the fairway buoy to the ports and it maneuvers from left to right and the Nigerian Navy has actually agreed that we should locate some of our signal stations close to areas of their operations and very close to them for security reasons.

We are also deploying navigational aids in that location.

Although we have high incidences of vandalisim of the buoys in the water. These are markers that guide the pilots. They are mostly vandalised by communities. But we are deploying new sets of buoys to ensure safety of navigations. So by doing this, more shipping lines, more shipping pilots, more pilots will be willing to bring vessels to that location and the same thing with Calabar. In Calabar, we are bringing new navigational aids that would encourage more vessels to come to that location because safety is important. You cannot be driving in the dark without something showing you where to turn left or right. We have also deployed more crafts, more marine vessels to Calabar and appointed a third party towage company to offer services. At both locations we are thinking of what to do about the dredging and for Warri port, we are thinking of how to resolve the issues with the capital and maintenance dredging because what Warri needs is first of all, the capital dredging to get it back to that 7.5m and do maintenance dredging to reduce siltation.

And for Calabar, there is a matter in court that has stopped us from carrying out the dredging. But the FMOT is discussing a likely out-of-court settlement.

For Rivers port, we are working with BUA and he has finally sent his final designs and I believe that within the month of June, he will be getting the final approval after we have checked the designs. But he has already mobilised materials there over three four months ago.

All the materials needed are already available. So, if we can finish constructing that port, it means that we will have healthy berths that have not collapsed, because they have been collapsing for over 10 years since concession. He has not worked on them, but we are sure now that things are picking up and if we are able to do that in these locations, that means we will have better and improved marine services, deeper draught system.

Finally, we are working on what concessionary tariffs we can give that would trickle down to the importers and exporters. What we have done in Calabar has had a bit of an desired impact, but it is not as much as we wanted, because it is the shipping lines that enjoy that, but it has not trickled down to the typical importers and exporters. If an importer or an exporter knows that he gets 10 or 15 per cent less in terms of charges by using those ports, they are most likely to go there.

In the past, What we have done is that we have given it to shipping lines, but they might not have trickle it down. So, we have not felt that impact, but we have seen an increase in businesses in those locations and from the figures we have, there is a surprising increase in business activity there. Onne has been doing very very well and the container business is growing very well.

Continued on page 19

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MONDAY, MAY 30, 2022 • T H I S D AY

INTERVIEW

We Have Become More Aggressive, Holding Regular Meetings and There Are No Formalities, You Just Pick Up the Phone and Call the Port Manager and Say Where is the Money?

So, how do you ensure that the tariff meant to woo shippers to the Eastern ports trickle down to the importers and exporters?

That is what we are working on now. The tariffs and billing department is working on something that can be more direct. For us, most of the charges are either to the Customs, or shipping lines. So, we are thinking of coming out with a tariff review that would trickle down to the end-users Recently, the House of Representatives summoned your parastatal, saying millions of dollars were unremitted in 2019. Can you throw some light on that allegation?

This is something from the audit of the Auditor General of the Federation, and based on the concession agreement signed in 2006. Let me give you a typical example with APMT there is what they call volume change and APMT is supposed to pay NPA a certain amount of money based on their cargo volume. So at the beginning of the year, or at the beginning of the month, you issue them a bulk invoice and it is based on the volume that they determine how much they pay you. Let us assume that it is $40 million every month, based on a predictive quantum of cargoes of let us say 10000 for the sake of example, which is equivalent to $40 million, if they do $6000 instead of $10000, they are going to prorate and pay you. So that difference is what they call volume change.

Secondly, there are some locations where you have leased land to people, let us say 10 hectares of land, but what they have access to is 6 hectares of land, and if they are supposed to pay you $10000, they prorate it and give you $6000. So that is an invoice you have raised in advance but they pay you less and we call it an encumbered area and there are also some tariffs related to land leases that are in contention and the agreement says before NPA increases any lease fees, there should be an agreement with the person that is leasing and so on and so forth.

NPA has gone ahead to increase lease fees without the consent of the other party. The amount they are talking about is an accumulated sum and not just for 2019. So, that report was about accumulated sums and we have written and explained and some of these revenues are uncollectible in the sense that they are actually based on the legal lease agreement signed, you can’t collect that money and then of course, in that report, you have some liabilities and there are some debts and I am sure we have practically collected everything, and we have written already with the explanation and breakdown and so on.

Some of this liability is by NNPC also and they have legacy debts running into billions and then there are other liabilities as I said from 2019 till date.

We are calculating almost N30 Billion or thereabout and of course NNPC is capable of paying and what is remaining is reconciliation. We have asked that NNPC should do what the NLNG is doing, which is pay on account and on a quarterly basis we reconcile, then, whether we carry forward or you pay, it resolves most of these problems.

Has security improved for vessels coming into the country?

When you say secure, safe anchorage, are you saying that the other anchorage recognised by the NPA is not secure and safe? We felt it was wrong and the NPA had argued together with the Federal Ministry of Transport and the President magnanimously cancelled that, and as of now, we have not had any incident of piracy or insecurity at the anchorage. Since Its cancellation we have been here, we have not had any incident. Don’t forget the Deeep blu sea project is also there to secure the anchorage.

There is more patrol by the Nigerian Navy and there is more and better communication in times of distress, and do not forget also that the Deep Blue Project also has helped in reducing some of these things. What we used to have before is people will go to be at the anchorage and all these little vessels will come and attack, organised pirates and all that will be there, but we have not had one single incident yet at that Anchorage. We have not had any and so on. We have been working with the Navy and we have been supporting ourselves and they are actually up to the tasks in terms of securing the Anchorage.

So that secured Anchorage area was just a waste basically or another way of adding cost to shipping companies?

Well, we believe it was just increasing the cost of doing business in Nigeria and that was why we felt it was wrong because they were still paying NPA charges and then staying at an Anchorage that was said to be safe. But we knew our own Anchorage was safe. What we have done was to work with the Navy on the directive of the President and the Navy paid more attention to the Anchorage to increase their patrols.

I can see here that you have dealt with some staff issues such as welfare and gratuity payments.

Why were these payments not made before now?

As at the time it was approved, some staff

felt that as of the day we drew the line in terms of increase as it was approved by the board, they are supposed to solve this. Let us assume that the board approved it on the 1st of June, let us say 2019, between January and May, it means that some staff were not entitled. So, there was this allegation that the committee report actually recommended from January, then the Board approved it in June. We called them and had an engagement with them and we said it will not hurt if we pay them that money. So, we put it in the budget and the next year, we paid them this year. That was what happened.

One of your achievements in the last 100 days is the perfection of IFRS compliance asset register.

Can you tell us about this?

So over time, one of the reasons for qualification of NPA’s audited financial statement is the lack of access register, a comprehensive asset register, which is really very important. The asset register is supposed to have a list of all the assets of the organization categorised into various types of assets, the year of purchase, the value and the assets also. So that way, on click of the button, we will be able to know how many chairs are there, what is the value of the chairs, how do you depreciate them, what is the total value of assets of the organisation. But it has not been available for so long and in fact, when we came to NPA, it was not there. But this year, we have been finally able to do that and we just concluded it and it is a tremendous achievement for us.

So, what we have done is that we have it now and any additional asset will just be added to the register to update it and anything that has been depreciated fully will be taken out of the asset list and anything that is disposed will be taken out of the asset. This is one of the requirements of the international financial regulation and it is a standard that ought to be there.

It took a lot of work and first of all valuing the asset, identifying them, tagging them, dividing them into different asset categories and registering them. So, it is quite an achievement and I am proud of the Financial Department that actually worked with me and every other one that did it. It is a huge success.

The last time we had a chat with you, you spoke about fully digitalising and automating your processes. Tell us how much of that you have been able to implement!

Let us say the software we have, the EBS is Oracle and we have not been able to get the licence for so long. But in the last few months, finally, we got the Federal Executive Council (FEC) to approve the re-licencing of our Oracle Financial, Oracle Hyperion, Oracle HR and all that. So, that means you do not need to go around looking for patches. It is like an iphone, there are regular updates. You could have a problem that you will not be able to resolve because you do not have the licence and it had expired so many years ago. But now, we have an upgraded software, let us say EBS, it means that our processes are faster, our payments are faster, our revenue is faster, reconciliation is better. That is the bedrock first of all.

We also have servers that have reached their end of the life, some of them since 2015. That has gone to FEC, we need to change those servers because we now have an updated and upgraded EBS. It means we have to change our servers. Apart from that, what we have now thought of is to fully automate one of the major functions of NPA which is the Harbour Department. The Harbour Department is not automated, but the Finance and HR Departments are fully automated. So, we have already started the process of automating our Harbour Department. Our Harbour Department, as the International Maritime Organisation (IMO) requires by 2025, we should be able to serially bring in vessels, board, unboard and berth them, sail them away. It should be an automated

process. We started working with the IMO in the past few months and IMO is consulting for the NPA to deploy what they call Port Community System. The first phase was done virtually and the consultants we’re meeting with NPA and we got all the stakeholders, viz. the Nigeria Customs, the shipping lines, the freight forwarders, the clearing agents, the Standards Organisation of Nigeria (SON), the Immigration Service, everybody that is involved in port activities to bring in people to work with us towards the deployment of a port community system. The IMO graciously agreed to fund the first phase, the second phase will start on the 30th of this month and the consultants are coming in from the UK. They are coming to do an on-the-spot assessment of what is available both by the NPA and the Nigerian Customs The Port Community System is a system that allows everybody to plug in. So, when you are looking for information, you are sharing data, you are filling forms, whatever you are doing, it is more like a centralised thing and the Federal Ministry of Transport has also been pushing this and we got approval to go ahead with this. It is a major requirement for you to improve services and reduce time and interference and be more efficient.

They will be here for ten days and the IMO is paying for that, and then the last stage will be paid by the Nigerian government and then we now know where we are and when they come, it will be basically for on-the-spot assessment. We are excited because it will just reduce a lot of human interference, it will improve efficiency, and it will also improve revenue and reduce leakages because you will be able to know what vessels came in.

Every vessel has an IMO number where you will check and see what they are even coming with.

So the Nigerian Customs will be able to access every vessel and check what is coming in, who is coming in, and at what time.

However, what makes this system even very interesting is that it is not going to do away with the existing e-customs or whatever applications or whatever the other stakeholders are using. What they are saying is plug in what you have into this and we all share data and information to do things better and faster. That is really going to improve what we are doing and whatever we have on the ground that has been in silos. We are also integrating because we have had so many things that are in silos, we have the estate module, we have a department that is integrating all of the modules in such a way that we have one compartmentalised operational system, because some of them are in silos and we want all of them to have handshake.

We raised the issue of delays and importers are complaining about cargo clearing. You pledged then that it was something you were concerned about and would act on. Tell us how much has improved since we had that conversation!

First, let me explain how these delays happen.

The delays start from how quickly vessels are brought to the ports. If a vessel comes and it is at the Anchorage for three days waiting, that means we have wasted three days. The second thing is how good is the equipment, the loading and offloading equipment of the terminal operators. If any machine starts working and it breaks down, that means the time has been wasted, then how quickly do they do their own processes in terms of Argo clearing processes. Then how quickly does the Customs also do examinations. So you see it is a chain. That which is within our powers and responsibility, in terms of bringing in the vessels and of course we have been in the harbour department, we have improved their equipment, their communication.

With these, we know that waiting time has reduced in terms of vessels staying at the Anchorage and at the Quay side, we have been monitoring. There is a department of monitoring and regulatory services that has been monitoring the efficiency of terminal operators, the quality of the equipment and so on.

We have had reasons to call terminal operators to say that the equipment is not good, that they need to repair or work on them or you need to increase the number of forklifts or what have you. There are quarterly reviews that we do, and there are boxes we tick, and these have improved that, the terminal operators, some of them have the equipment, but some of the equipment is old. We are watching them to bring in more equipment, better cranes because most of them are using RTG and because of the attention we have paid to Onne and other locations, most of them are bringing bigger cranes and so on and so forth. We are working with the Nigerian Customs and then the ease of doing business PEBEC and the Nigerian Customs seems to be doing a bit better. They have deployed a few scanners; we believe they can deploy more. There is an improvement and we can do far better, but we have seen an improvement in terms of the speed of clearing. Then of course, one of the complaints is even how quickly the truck can leave the port environment.

You can see there is an improvement in terms of the truck movement within the Apapa area because of the e-call up system that we introduced. Also, there have been less and less complaints, but we can still do better and we believe that. Tin Can is where we have a major problem because of the road construction, the system has not been very efficient there because the roads are just terrible, but we are working on that and we have seen that improvement.

The sinking fund for the takeoff of the Lekki Deep Sea port is another achievement that we can point to, can you speak on that?

At the start of the agreement, construction and funding, one of the responsibilities of the NPA was to fund a certain sinking fund, which be held by government and it is more like a guarantee in case of defaults and it has not been funded actually. We are supposed to have started funding it in 2019, but that has not been done. But I am sure now that we have funded it. The first amount was paid in sometime this month and it is supposed to be a quarterly payment of $1.5 million or so and that sinking fund, nobody touches the money, it belongs to the government actually, but it’s just a guarantee, and once that is done and construction is concluded and then, you know they have started repaying the debt, I am sure all of that will be over.

But it is a responsibility and it is more like one of the terms of the agreement that the government will provide a sinking fund and the sinking fund account is in the Central Bank and it is managed by the DMO, NPA and of course the Federal Ministry of Finance.

Most often we hear that ships come into Nigeria with goods and leave empty. It is something that is not good for our country and being in this position, you can see what comes in and what goes out. Give us an idea what the Nigerian export landscape looks like to the international market.

In terms of cargoes and in terms of quantity in tonnage, it is really very small compared to what we are importing and there is no hiding because we all know that Nigeria is an import-dependent nation. But we have also started seeing an increase in terms of percentage increase in export volume, especially in agricultural products. So there has been this effort by government, which has worked towards diversifying to non-oil exports. You can see a lot of programmes by the Central Bank of Nigeria, a lot of programmes by the Nigerian Export Promotion Council (NEPC), a lot of initiatives by the various government agencies.

Our responsibility is to provide an enabling environment to ensure quick processing of export boxes, but the first thing is starting from access to reports. We are building all the attention that is needed so that these boxes can go into the ports and we have created a single line going into Apapa and Tin Can for export boxes, but we also encourage people to go to other port locations and a lot of terminal operators are coming in to do that. We also gave licences to 10 export processing terminals and the essence here is for exporters to a location that is a one-stop location where you can take your exports, where you can sort them, bag them, tag them and put them into the container and that container goes straight into the pot into the vessel and that way, you know, it is a one-stop shop and that is what we have created. Also, because one of the major problems is that you have an export commodity that perishes before it leaves the port, not necessarily because of the inefficiency of the ports themselves, but sometimes also even the exporters. They come to the port without the necessary documentation. There is this NXP form by the CBN that we have found very cumbersome and I know the apex bank was amending and by that way, it makes it friendlier to use. You have to get the approval because the Central Bank has to approve, the shipping company will not take your export out of the country unless that NXP form has been approved showing what you are exporting, the tonnage, the weight, the value, the location and the number of containers.

NOTE: Read full interview in the online edition on www.thisdaylive.com

20

MONDAY MAY 30 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, MAY 30, 2022

21

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

M A Y

S & P INDEX

2 7 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Fixed Income, Currencies Trade by Investors Hit N62.86trn as Pressure Mounts on FX

Kayode Tokede Investors in the Fixed Income and Currencies (FIC) market of the FMDQ Exchange traded a total of N62.86 trillion in the first four months of 2022, representing nearly 7 per cent decline from N67.59 trillion traded in the first four months of 2021.

Contributions to FMDQ’s FIC are Foreign Exchange market, Treasury Bills, Open Market Operations (OMO) and Central Bank of Nigeria (CBN) Special Bills, FGN & Other Bonds.

THISDAY analysis of data released by FMDQ showed that foreign exchange market dominated trading in the FMDQ Exchange’s FIC market, contributing 32.3 per

cent between January and April 2022.

According to FMDQ data, total foreign exchange market turnover increased by 14.6 per cent to N20.33trillion in the first four months of 2022 from N17.73 trillion reported in first four months of 2021.

Analysts noted that increasing business activities played a critical role in the foreign exchange demand, stressing on the Central Bank of Nigeria (CBN) sustained interventions has reduced investors and exporters surge demand.

The Chief operating officer of InvestData Consulting Limited, Mr. Ambrose Omordion, also attributed the growth to increasing demand for foreign exchange

to improvement in the global economy, stressing that the crisis between Ukraine and Russia might affect demand going forward.

According Omordion, the domestic economy has seen more business activities in the first four months of 2022 and demand for foreign exchange has increased significantly.

On his part, analyst at PAC Holdings, Mr. Wole Adeyeye attributed the growth recorded in the total foreign exchange turnover in the first four months to increasing economic activities.

He said: “The demand by investors and exporters foreign exchange in the first four months of 2022 has depreciated the local currency and we have witnessed

volatility in the foreign exchange market.”

With the increasing total foreign exchange turnover in the FMDQ, the Naira has continued to depreciate in 22022.

According to FMDQ report, Naira has depreciated from an average N416.55 against the Dollar traded in January 2022 to N417.55 against the Dollar as of April 2022.

The FIC report noted that Naira depreciated against the US Dollar, losing 0.24 per cent or $1 01/N to close at an average of N417.55 in April 2022 from N416.54 recorded in March 2022.

The report noted that, “Further, exchange rate volatility increased in April 2022 compared to March 2022 as the Naira traded within

an exchange rate range of N416.50 - N419.50 in April 2022 compared to N416.00- N417 00 recorded in March 2022.”

In its recent report, the Chief Executive Officer, Centre for the Promotion Of Private Enterprise (CPPE), Dr Muda Yusuf had highlighted that the country’ s foreign exchange challenges is fuelling inflation, eroding investors’ confidence, aggravating the cost of operations & costs of production and accelerating business mortality.

A member of the MPC, a Professor of Economics at the University of Benin, Mike Obadan had in his personal statement during the March meeting noted that, “The increase in core inflation in the country was strongly linked

to two factors: the high cost of energy products, arising from shortages, and profiteering by economic agents, particularly, relating to petrol, diesel and aviation fuel; and the continuous demand pressure in the foreign exchange market which has led to depreciation of the exchange rate and high prices of imported goods in Nigeria.”

Meanwhile, the FMDQ report stated that total market turnover for all products traded in the spot market was N15.86 trillion in April 2022 representing a MoM increase of 20.89per cent or N2.74trillion from the turnover recorded in March 2022.

Continued on page 22

NIRSAL’s Credit Guarantee Scheme Unlocks N152bn to Farmers, Signs MoU with Moroccan Bank James Emejo in Abuja The Managing Director/Chief Executive, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Plc, Mr. Aliyu Abdulhameed, has said it unlocked

N152 billion to farmers under the NIRSAL’s Credit Risk Guarantee (CRG) facility in the last six years with credit crystallization rate still below 1 per cent.

He also expressed confidence that the innovative financing products

that speak to the peculiarities of agricultural primary production would help financiers to maximize the benefits and incentives in the 75 per cent CRG issued by NIRSAL for primary production projects, as well as Interest Drawbacks (IDB)

of up to 40 per cent that diligent borrowers could enjoy.

This came as NIRSAL and the Morocco bank of agriculture, Credit Agricole Du Maroc (CAM) have signed a Memorandum of Understanding (MoU) geared

toward the promotion of inclusive growth and sustainable development of the agriculture sectors of both countries.

The partnership rekindles their six-year partnership, through the facilitation of finance and

investment, trade and support systems across agricultural value chains with emphasis on smallholder farmers.

Abdulhameed, and the Chairman Continued on page 22

M A R K E T D ATA A S AT F R I D AY, M AY 2 7 , 2 0 2 2 BILLS

BONDS DESCRIPTION

Price

Yield

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

110.82

7.66

110.82

10.00

106.15

10.43

119.94

10.43

112.15

10.43

Change Updated Time (%) May 24, -0.01 2022 May 24, 0.07 2022 May 24, 0.00 2022 May 24, 0.00 2022 May 24, 0.00 2022

MATURITY

Discount

Yield

OTC F X F U T U R E S

CPS

Change Updated Time (%)

NTB 9-Jun22 NTB 14-Jul22 NTB 11Aug-22 NTB 8-Sep22

3.06

3.06

0.00 May 24, 2022

3.01

3.02

0.00 May 24, 2022

2.97

2.99

0.00 May 24, 2022

2.93

2.96

0.00 May 24, 2022

NTB 13-Oct22

3.45

3.50

0.00 May 24, 2022

MATURITY DANC CP II 25-MAY-22 TRBH CP V 26-JUL-22 FSDH CP VI 1-AUG-22 NENL CP I 24-OCT-22 FSDH CP VII 27-OCT-22

Discount Yield

Change Updated Time (%)

8.85

0.10 May 24, 2022

11.27 11.50

-0.07 May 24, 2022

8.85

7.78

7.90

-0.09 May 24, 2022

14.52 15.45

0.36 May 24, 2022

8.88

9.23

0.39 May 24, 2022

CONTRACT Current TENOR Contract Rate ($/₦) (MONTH) NGUS JUN 29 1 427.24 2022 NGUS JUL 27 428.93 2 2022 NGUS AUG 31 3 430.63 2022 NGUS SEP 28 4 432.32 2022 NGUS OCT 26 5 434.02 2022

Updated Time

May 25, 2022 May 25, 2022 May 25, 2022 May 25, 2022 May 25, 2022

22

MONDAY, MAY 30, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

SUPPORT FOR THE BAR…

L- R: Group Executive, Retail & Commercial Banking (Lagos & West) FirstBank, Seyi Oyefeso; Executive Director, Treasury & International Banking, FirstBank,Ini Ebong; Deputy Managing Director, FirstBank, Gbenga Shobo; President, Nigerian Bar Association, Olumide Akpata; Chairman, NBA Finance Committee, Seni Adio, and Chairman, NBA Continuous Legal Education Committee, Tobenna Erojikwe, at the signing ceremony of the MOU on the collaboration of FirstBank and Nigerian Bar Association to provide facility to members of the bar held in Lagos… recently

FG: Kano-Jibia to Maradi Railway Line Will Crash Price of Cement Oluchi Chibuzor The federal government has stated that the Kano-Jibia to Maradi railway line when completed would help to crash the price of cement in the country.

Minister of Information and Culture, Alhaji Lai Mohammed stated this during a facility tour of BUA’s Kalambaina Cement Plant in Sokoto State.

According to the minister, the railway line will help reduce the cost of transportation and energy incurred by cement manufacturers since bulk of Liquefied Natural Gas (LNG) would be transported using rail way transportation.

The Minister however stated that the conditions that have made BUA cement to flourish, especially since 2015 when the present administration assumed office, include the fact that BUA was granted Pioneer Status, the ban on importation of cement, government’s divestment from the cement industry and backward integration policy.

“Thanks to these conditions, BUA Cement has recorded a 300 per cent increase in production between 2015 and now. That is from 3.5 million tonnes per annum in 2015 to 11 million tonnes per annum now. For its part, the sokoto plant is operating at over 90 per cent of installed capacity,” he said.

He added: “Because of its location, which is just 100 kilometers to Niger Republic, the plant exports to Niger and Burkina Faso, earning Nigeria much needed forex. Please note

that only excess is exported, especially during the raining season. Other facts include that the company produces all year round, loading between 250 and 270 trailers per day. The plant has 700 trucks for cement distribution.”

He noted that the three million tonnes per annum line (IV) of

the BUA Cement facility takes the combined installed capacity of the factory’s lines 2,3 and 4 to 5 million tonnes per annum, stressing that this is one of the most modern cement plants anywhere in the world.

“It has gas analyzers used in regulating carbon emissions

released into the atmosphere; air purifying mechanisms set up to enhance the quality of air released from the cement manufacturing process. In fact, the plant has filters capable of capturing 99.9 per cent of dust in order to make the environment healthy and conducive for the

workers and customers alike, “he added.

He stated that the plant is the first cement plant in Nigeria to use LNG to generate 50MW of power, thereby replacing coal in its kiln, pointing out that this has made the plant environmentally friendly to also

curbclimate change.

Speaking, the Managing Director and Chief Executive Officer, BUA Cement Plc, Yusuf Binji, said cement producers are still under producing with a demand of 30 million tonnes far below Ghana, Egypt, Senegal and Ivory Coast in terms of per capita consumption.

Investors Reap Over N1.1trn Dividend from Dangote Cement, Others Kayode Tokede Despite economic headwinds, investors in the stock market of the Nigerian Exchange Limited (NGX) have earned over N1.1 trillion from dividend payout by listed companies in Year-to-date (YTD).

This is as Dangote Cement Plc, MTN Nigeria and eight companies emerged as highest companies in terms of total dividends paid to

investors, while Nestle Nigeria Plc, Total Energies Plc and eight others emerged as highest in terms of dividend paid per share.

Dividend payment is one of the very few ways available for investors to earn a constant stream of income. It is also the main reason shareholders hold onto their shares in a company. It, therefore, brings great satisfaction to investors when these companies declare dividend to their shareholders.

According to corporate action from the NGX website, 57 companies across 11 sectors of quoted companies on NGX have so far paid out N1.107 trillion. The data further showed that 22 companies emerged from the financial services sector, 9 companies emerged from Consumer Goods and four emerged from Industrial Goods.

The data showed that Dangote Cement in the Industrial Goods sector recorded N340.8 billion;

MTN Nigeria Communications in the ICT sector posted N174.4 billion; BUA Cement in the Industrial Goods sector posted N88 billion; Zenith Bank Plc in the Financial Services sector recorded N87.9 billion while On the other hand, Nestle Nigeria Plc topped the highest companies in terms of dividend per share with N25.50 per share.

Dangote Cement Plc posted about N20 per share while Total Energies,

Airtel Africa, MTN Nigeria, Okomu Oil, Presco Plc, BUA Foods Plc, Zenith Bank and GTCO followed in order.

Furthermore, four companies emerged from the Healthcare sector, three companies each emerged from the Oil and Gas sector and the ICT sector, two companies each emerged from the Conglomerates, Agriculture and Construction sector while one company emerged from the Natural resource sector.

Pensioners Tasks NRC to Implement Monetisation Policy Ugo Aliogo The Nigeria Union of Railway Workers and Senior Staff Association (ANRS) has called on the management of the Nigeria Railway Corporation (NRC) to begin the process of implementing the housing aspect of the monetization policy of the federal government to the letter.

Also, they urged the NRC management to await the decision

of the Court of Appeal, rather than devise illegal means of ousting the legitimate sitting tenants of the Railway staff quarters.

The pensioners called on the Railway Property Management Company limited to stop negating and frustrating the good intentions of the federal government.

Speaking at media briefing in Lagos, the Chairman of ANRS, Michael Abogoye, appealed with the management of NRC

to desist from interfering with the railway staff quarters and their appurtenances forthwith pending determination of the suit at the Court of Appeal.

He further explained that the federal government, in a deliberate policy to reduce the cost of governance and financial burden of civil servants, relaxed its housing laws for serving and retired staff who occupy federal government staff quarters, “to

actualize this, it initiated a monetization policy in June 2004 which became effective on July 1, 2005.”

Abogoye expressed displeasure that in spite of court orders, the NRC management has been trespassing into their premises in Railway staff quarters and harassing the occupants with evictions and demolition.

The chairman appealed to the NRC to allocate the already built

houses in respective districts to those who were forcefully evicted and for whom the houses have been built, as the corporation and the federal government had undertaken.

He called on the corporation to stop the demolition and nefarious threats of dismissal from the service on Kano serving staff who are presently being coerced to accept N5 million each and give up their monetized quarters.

FIXED INCOME, CURRENCIES TRADE BY INVESTORS HIT N62.86TRN AS PRESSURE MOUNTS ON FX

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)

The report stated that, “The MoM increase in total spot market turnover was driven by the 39 61 per cent or N1.08trillion and 55.96per cent or N1.83trillion

increase in foreign exchange market and money market (turnover, respectively, which offset the 2 39per cent or N0.17 trillion) decrease in fixed income

(market turnover in April 2022.

“The MoM decrease in FI market turnover was driven by the MoM decrease in bonds turnover by 33.71 or N0 60 trillion).

“Although, the turnover for T-bills also decreased MoM by 7.56per cent or N0.09 trillio), total bills turnover increased MoM by 7.85 or N0 42 trillion) due to the

combined MoM increase in OMO and CBN Special Bills turnover by 12.26per cent or N0 51 trillion).”

NIRSAL’S CREDIT GUARANTEE SCHEME UNLOCKS N152BN TO FARMERS, SIGNS MOU WITH MOROCCAN BANK of the Management Board of Credit Agricole Du Maroc (CAM), Mr. Tariq Sijilmassi, both signed the agreement on behalf of their respective institutions, thereby committing to the mutual prospecting and implementation of agriculture-oriented projects that benefit both organisations and their host countries.

The agreement followed a state visit to Nigeria in 2016 by the King of Morocco, His Majesty, Mohammed VI, providing the backdrop for the initial pact between NIRSAL and CAM, forming part of 15 bilateral agreements signed by the King and President Muhammadu Buhari on behalf of their countries.

Six years later, NIRSAL and CAM

met again, this time at the head office of the latter in Rabat, to review activities under the agreement and rekindle the partnership.

However, the latest meeting expanded the scope of their pact to include B2B relationships, capacity building, knowledge transfer, and digital agribusiness risk management solutions.

Among the short and mediumterm undertakings outlined by the MoU, both parties will work towards presenting a common front to the managers of the Land Degradation Neutrality (LDN) Fund in a bid to attract global finance for sustainable agribusiness investments.

CAM’s deep experience in developing solutions for the financial

integration of smallholder farmers in Africa would also benefit NIRSAL in opening up more pathways for critical finance to enter the agricultural primary production sub-sector in Nigeria.

Speaking at the ceremony, Abdulhameed, pointed out that NIRSAL’s areas of need included the development of financing products that suit the seasonality of agriculture and other farming contexts, emphasizing the difficulties smallholders experience in keeping to the terms of conventional bank financing products.

NIRSAL, a pacesetter in the modern, innovative use of blended finance to spur the growth of agriculture, has been a reference

point for emerging Development Finance Institutions (DFIs) across Sub-Saharan Africa.

CAM, however, is a more experienced institution from which, according to Abdulhameed, NIRSAL is eager to learn.

Established in 1961, CAM is a universal bank that finances all sectors, with agricultural expertise as a particular vocation. Within the framework of national investment programme, CAM works to enhance agricultural activities and stabilize rural populations by sustainably improving their standard of living.

Beyond its agricultural expertise, CAM is also involved in several other financing projects, particularly in rural areas, through its network

of 543 branches across the Kingdom of Morocco.

With special abilities in the design and deployment of products and services that are tailored to customers’ needs, it has ingrained itself into the fabric of Moroccan life whilst holding equally sizeable portfolio abroad.

Consequently, through its 60-year existence, the bank has granted over $10 billion in loans, making a profit of $430 million.

The agreement between NIRSAL Plc and CAM draws further relevance and validation from the South-South Cooperation – the technical cooperation among developing countries in the Global South.

T H I S D AY ˾ MONDAY, MAY 30, 2022

23

BUSINESSWORLD

STATUS REPORT

Conoil: Positioned for Growth Despite Decline in Revenue

Kayode Tokede

D

espite decline in revenue and hike in operating expenses, Conoil Plc reported double-digit increase in profits to begin 2022 financial year on impressive note.

The unaudited result and accounts for first quarter ended March 31, 2022 showed a sustained performance in profit & loss figures and balance sheet from what the petroleum marketing company reported in 2021 full year results.

Conoil in the first quarter of 2022 reported 21 per cent decline in revenue to N26.15 billion from N33.09 billion in Q1 2021.

The revenue generated from sale of petroleum products in Nigeria showed that proportion of white products contribution to revenue dropped to 90 per cent to N23.42 billion in Q1 2022 from 94 per cent to N31.16 billion reported in 2021 first quarter.

The proportion of lubricants contribution to revenue increased to 10 per cent to N2.73 billion when compared to six per cent to N1.93 billion reported in the first quarter of 2021.

Conoil also reported 24.2 per cent decline in Cost of Sales (CoS) to N23.3 billion in the first quarter of 2022 from N30.73 billion in Q1 2021. Consequently, the proportion of CoS/Revenue dropped to 89.13 per cent in Q1 2022 from 92.9 per cent in Q1 2021.

This positioned gross profit to N2.8 billion in Q1 2022, an increase of 21 per cent from N2.36 billion reported in 2021 first quarter.

Total operating expenses increased marginally by seven per cent to N1.83 billion in the first quarter of 2022 from N1.72 billion in Q1 2021.

The company reported 19.1 per cent increase in distribution expenses to N519.5 million in the first quarter of 2022 from N436.3 million in 2021 first quarter, driven 22 per cent increase in Freight costs. The petroleum marketing company also reported 2.3 per cent increase administrative expenses to N1.3 billion in the first quarter of 2022 from N1.29 billion in in the first quarter of 2021.

For the 2022 first quarter, finance cost closed at N295.34 million from N55.2 million in the first quarter of 2021.

The growth in finance cost reduced profit before tax to N742.96 million in Q1 2022 from N623.43 million in Q1 2021. Conoil paid a tax of N185.7 million in Q1 2022 from N199.5 million in Q1 2021 to report 31.44 per cent increase in profit after tax to N557.2 million in Q1 2022 from N423.9 million in Q1 2021.

The underlined increase in profits positioned Basic earnings per share (kobo) to N0.80 in Q1 2022 from N0.61 per share in the first quarter of 2021.

GROWTH IN REVENUE The audited result and accounts of Conoil for period ended December 31, 2021 showed a modest growth in revenue, impacted by price adjustment in white products.

The petroleum marketing company has identified itself in three reportable segments that include white products, Lubricants and Liquefied Petroleum Gas (LPG).

The white products segment is involved in the sale of Premium Motor Spirit (PMS), Aviation Turbine Kerosene (ATK), Dual Purpose Kerosene (DPK), Low-pour Fuel Oil (LPFO) and Automotive Gasoline/ grease Oil (AGO).

The products under the lubricants segment are Lubricants transport, Lubricants industrial, Greases, Process Oil and Bitumen. Products traded under LPG segment are Liquefied Petroleum Gas – Bulk, Liquefied Petroleum Gas – Packed, cylinders and valves.

According to National Bureau of Statistic (NBS) the average price paid by consumers for PMS increased by 0.04 per cent on year-on-year basis to N165.77 in December 2021 when compared to N165.70 in December 2020.

The Bureau also disclosed that the average retail price of Automotive Gasoil paid by consumers increased by 28.97 per cent on a year-on-year basis from a lower cost of N224.37 per litre recorded in the corresponding month of last year to a higher cost of N289.37 per litre in December 2021.

Conoil’s revenue from sale of petroleum products in 2021 unaudited results grew by nearly eight per cent to N126.7billion from N117.47billion reported in 2020.

Revenue from White products contributed 92 per cent or N116.97 billion in 2021 as against 93 per cent or N109.56 billion White products contributed in prior year.

Lubricant, out of the N126.7 billion revenue in 2021 contributed eight per cent or N9.73 billion, while Lubricants in 2020 contributed seven per cent or N7.91billion in 2020.

COST OF SALES The Cost of sales (CoS) rose by 7.03 per cent to N115.22 billion in 2021 from N107.65 billion reported in 2020 to bring Conoil’s CoS/Revenue to 90.9 per cent in 2021 from 91.6 per cent in 2020.

The interplay between revenue and CoS positioned gross profit to N11.48 billion in 2021, 17 per cent increase from N9.82 billion reported in 2020.

Other operating income closed 2021 unaudited at N296.24million from N151.7 million in 2020, driven by 494.8 per cent increase in rental income that closed 2021 at N123.6 million from N20.8 million in 2020, while service income moved from N109.1 million in 2020 to N172.64 million in 2021.

The company reported 0.4 per cent decline in total operating expenses to

N7.22 billion in 2021 from N7.25 billion in 2020, driven by decline in administrative expenses.

Conoil reported 0.72 per cent decline in administration expenses to N5.15 billion in 2021 from N5.18 billion in 2020, while Distribution expenses that comprises of Freight costs and marketing expenses up by 0.3 per cent to N2.08 billlion in 2021 from N2.07 billion in 2020.

Finance costs for the period grew by eight per cent to N760.6 million in 2021 from N704.57 million in 2020.

Interest on bank overdraft closed 2021 at N753.8 million in 2021 from N700.5 million in 2020, as accretion expenses moved from N4.04 million in 2020 to N6.8 million in 2021.

According to the company: “Bank overdrafts are repayable on demand.

The average effective interest rate on bank overdrafts approximates 14per cent (2020: 15.5per cent) per annum and are determined based on NIBOR plus lender’s markup.

“The overdraft was necessitated by delay in payment of outstanding subsidy claims from the Federal Government on importation/purchase of products for resale in line with the provision of Petroleum Support Fund Act for regulated petroleum products.”

In all, the company reported 76.6 per cent increase in profit before tax to N3.79billion in 2021 from N12.14billion reported in 2020.

Profit for the period also grew by 111.1 per cent to N3.04billion in 2021 from N1.44billion reported in 2020.

The increase in profit impacted on the Earnings Per Share that moved from N4.38 in 2021 to N2.08 per share in 2020.

The company in its unaudited results has not declared dividend payout to shareholders but it has maintained dividend payout to shareholders since 2001.

However, in 2020 financial year ended December 31, 2021, shareholders of Conoil received a dividend of N1.04 billion. The dividend, which translates to N1.50 kobo per share was recommended following the release of the audited results of the petroleum products marketing firm.

Oil marketing giant had announced a final dividend payment of N2.00 per ordinary share of 50 kobo each for the period ended December 31, 2019.

CONOIL TRADE AND OTHER RECEIVABLES Conoil in its audited result and accounts crossed N50 billion in total assets, driven by 12.2 per cent increase in trade and other receivables to N34.29 billion in 2021 from N30.57 billion reported in 2020.

Meanwhile, the company’s total assets

rose by nearly 10 per cent to N53.69billion in 2021 from N48.86billion in 2020.

Total non-current assets dropped by 22 per cent to N3.85billion in 2021 from N4.94 billion in 2020, while Total current assets that comprises of Trade and other receivables rose by 13.5 per cent to N49.84billion in 2021 from N43.93billion in 2020.

Total equity gained 10.24 per cent to N21.52billion in 2021 from N19.62billion in 2020, driven primarily by Retained earnings that appreciated by 13 per cent to N17.3billion in 2021 from N15.35billion in 2020.

Total non-current liabilities moved from N964.79million in 2020 to N1.01 billion reported in 2021, while Total current liabilities about 10 per cent increase from N28.4billion in 2020 to N31.16billion reported in 2021.

MAINTAINING LEADERSHIP POSITION Meanwhile, the management of Conoil has reiterated its resolve to maintain its leadership position in the downstream petroleum sector by building a stronger financial position and creating higher values for its shareholders.

The company assured its shareholders that conscious efforts will be directed at achieving better execution of value-added products and services especially in the areas of marketing and customer management.

While noting that the challenges ahead given the current state of the nation’s economy, it however, expressed optimism that it would strive hard to maintain profitability.

Spurred by shareholders’ words of encouragement after the meeting had ratified a total dividend cash payment of N1.04 billion, which translates to 150kobo for every 50kobo share held, the company promised to explore opportunities in the coming years to deliver solid financial results and increase competitive returns on its shares.

The Chairman, Conoil Plc, Dr. Mike Adenuga (jnr), had while speaking at the company’s Annual General Meeting (AGM) said the company was fully charged to consolidate its competitiveness in the different segments of its business by exploring and developing emerging markets while holding its grounds in areas where it has competitive advantage.

He hinted that with the changing dynamics in the downstream petroleum industry, Conoil was poised to ensure improvement in its overall performance that would translate to meeting the expectations of all its stakeholders.

“We plan to consolidate on the progress made in the previous years to deliver a strong and sustainable performance that enhances returns to our shareholders,” Adenuga said.

He added that, “Our overriding goal is to ensure the continued delivery of excellent services to our customers. The company will grow its earnings, improve profitability and asset quality and deliver competitive returns to our esteemed shareholders.”

24

MONDAY, MAY 30, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R; First Fellow in Africa, International Facility Management Association (IFMA) Mr. Stephen Jagun;Director Department of Asset Maintenance, Ministry of Works and Housing, Abuja,Mrs. Tina Onokwai; Group Managing Director/CEO, Alpha Mead Group,Mr. Femi Akintunde;President, IFMA Nigeria Chapter, Mr. Segun Adebayo; Dean, Faculty of Environmental Sciences, University of Lagos,Prof. Modupe Omirin and General Manager, Lagos State Infrastructure and Asset Management Agency, Ms. Adenike Adekanbi, at the 2022 World Facility Management Day and 25th Anniversary of IFMA Nigeria Chapter held in Onikan, Lagos… recently

IoD Harps on Digital Competency to Drive Nigeria’s Economic Growth Gilbert Ekugbe The Institute of Directors (IoD) Nigeria has emphasised on the need for economic managers to invest massively into digital economy to achieve accelerated economic growth and development.

Besides, it added that the world has tilted into a knowledge-based economy as digital technology has helped people and businesses cope with challenges in both social and business endeavours.

This was the crux of IoD’s 2022 Women Directors organised by the Women Directors’ Development

Committee (WDDC) in Lagos recently.

The Chairman of the Governing Council, IoD Nigeria, Mrs. Ije Jidenma, explained that for Nigeria to achieve its true potential, it needs to be empowered with the necessary digital competencies.

“We now appreciate the need to identify and appreciate access to digital tools and technologies, while operating within a regulatory environment that protects the safety and interests of all stakeholders. Though digital technology has helped us to cope with the challenges in our social

and business lives, it is essential that the productivity gains from digital technology adoption becomes less divisive, and more inclusive,” she said.

“Therefore, better access to the sources of productivity, inclusive productivity measures, and coordinated and evidence-based policymaking are key to making digital technology benefit all,” she added.

She said this year’s theme tagged ‘Virtually Unstoppable: Defining the New Inclusive Economy’ could not have come at a better time, noting that

technology is clearly one of the major drivers of inclusiveness and a gamechanger for businesses as it eliminates barriers and provide speed and opportunities to scale-up.

In her words: “Since then, technology had become a major agenda item for Boards. Our theme today is therefore apt and will focus on how Boards should organise, leverage, finance and monitor technology and the world of opportunities it creates, particularly for women.”

According to her, the ongoing global digital revolution is no

Intel, AfriLab Sign Pact to Empower African Nations on Emerging Technologies Sunday Aborisade in Abuja Two technology giants, Intel Corporation and a pan-African network organisation, AfriLab have signed a memorandum of understanding to empower African leaders on emerging technologies.

The Director, Government Affairs in Africa, Intel

Corporation, Dr. Bienvenu Soglo, and an Executive Director in AfriLab, Anna Ekeledo, signed the document on behalf of their organisations.

The partnership, according to Soglo, would prepare African leaders for technologies such as AI, Cloud, 5G connectivity, and Intelligent edge such as IOT and cyber security

to drive informed policy making.

In her comments, Ekeledo enumerated roles that AfriLab had played in supporting innovation and entrepreneurship in Africa.

She said the hubs provided by the firm, had provided a conducive, creative and collaborative environment for innovators entrepreneurs, developers

and startups to build innovative solutions that could solve every day problems across various sectors.

She said, “They (hubs) also provide the necessary support needed to build successful tech-driven businesses that create jobs and contribute to the social and economic development of the continent.”

First Bank Reiterates Commitment Towards Creating Wealth for Unbanked Ugo Aliogo First Bank of Nigeria Plc has noted that recreating wealth for the unbanked and improving their standards of living would continue to be its major focus while leveraging digital offerings to drive financial inclusion.

The Managing Director, First Bank Nigeria Plc, Dr. Adesola Adeduntan, stated this during the commissioning of the Institute of Chartered Accountants of Nigeria (ICAN) Entrepreneurship Development Centre (EDC)

situated at Amuwo-Odofin, Lagos at the weekend.

He expressed excitement at the birthing of the project while adding that ICAN is widely acclaimed for supporting national capacity building and economic self-reliance by raising and training astute accounting professionals working tall within and outside the borders of this country.

Adeduntan, who was represented by the bank’s Chief Financial Officer, Patrick Iyamabo, said that First Bank, being a foremost financial institution on the

continent is an ardent proponent of raising and nurturing professionals across all fields, especially in accounting, which is at the center of business anywhere.

According to him, “For over 128 years of First bank’s continuous unbroken operations, many more economic cycles, industry transformations whilst reinventing itself many more times than any financial institution on the continent.”

Earlier in her keynote address, the President of

ICAN, Comfort Eyitayo, while commending First Bank for the joint collaboration of the project, said the EDC is a conscious and deliberate effort to drastically reduce the number of unemployed accountants and other participating public.

“The ICAN EDC is envisioned to provide practical and world class capacity building programs in the areas of professional practice and fintech with a potential of expansion into production activities,” Eyitayo said.

doubt transforming economies and driving innovation across all sectors, adding that despite the nation’s inherent challenges, the country has nevertheless expanded the use of technology to transform all sections and sectors of the economy, be it education, healthcare, agriculture, finance, telecommunications to mention a few.

Also speaking, the Chairman, WDDC, Mrs. Debola Osibogun, said the annual luncheon is a flagship event of the Women Directors Development Committee aimed at effectively supporting

women in their leadership roles in the public and private sectors of Nigeria.

She said women from diverse walks of life come together to discuss issues about broadening the horizon and involvement of female directors.

“The Luncheon therefore, is a forum for knowledge sharing and capacity development for female leaders, as well as an advocacy forum to continuously propound the importance and imperatives in creating gender-inclusive growth as a cornerstone of sustainable development,” he said.

NAICOM Inaugurates Insurance Industry Committee on AFCFTA Ebere Nwoji Insurance sector regulator, the National Insurance Commission (NAICOM) has inaugurated a 15 man committee that will coordinate the activities of Nigerian insurance sector operators in the African Continental Free Trade Area (AfCFTA).

The purpose, Commissioner for insurance, Mr Olorundare Sunday Thomas said, is to ensure that insurance sector operators benefit maximally from the regional trading initiative.

Thomas, who inaugurated the committee in Abuja, said among other things the committee has been charged with the responsibility of liaising with relevant agencies of government and other bodies on the implementation of the AfCFTA agreement in the Nigerian insurance industry.

According to the insurance commissioner, the committee is also charged with the responsibility of developing and ensuring implementation of measures to ensure that the industry effectively exploits the benefits of AfCFTA. The committee is also to engage and/or liaise with relevant bodies and agencies such as the National Action Committee (NAC) on AfCFTA, Nigerian Office

for Trade Negotiations on implementation of the AfCFTA Agreement and any such body.

He further said the committee was to coordinate bilateral negotiations with any interested state party regarding the Nigerian insurance sector.

In addition, Thomas said the commission was to regularly consult with relevant stakeholders to ensure that positions or views canvassed were reflective of the interest of the Nigerian insurance industry as well as attend relevant meetings, seminars, workshops, conferences, etc and articulate the Nigerian insurance industry’s views on AfCFTA. The Insurance Commissioner further charged the new committee with the responsibility of submitting regular updates/reports regarding developments on AfCFTA and activities of the Committee to NAICOM and to carry out such other relevant activity(s) that it may consider beneficial to the Nigerian insurance industry in respect of AfCFTA implementation.

According to Thomas, the Commission has already informed the National Action Committee on AfCFTA of the constitution of the Committee including the membership and Terms of Reference of the Committee.

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NEWS

NIMASA: ISPS Code Key Component of Maritime Security Architecture in Nigerian The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh has stated that the implementation of the International Ship and Port Facility Security Code (ISPS) is a major component of the security architecture NIMASA is implementing in the Nigerian maritime domain.

Jamoh stated this while receiving in audience the Deputy Head of International Maritime Security Operations Team (IMSOT), Jim Hamilton who led a team on a working visit to assess the level of compliance of some Ports facilities in the country with the ISPS Code.

Jamoh who was represented by the Agency’s Executive Director Operations, Mr. Shehu Ahmed, noted that the importance of an effective implementation of the ISPS Code regime cannot be

overemphasized. This, he said, necessitated the Nigerian government to domesticate the ISPS Code Implementation Regulations since 2014, bearing in mind that it is an integral aspect of the Safety of Life at Sea, SOLAS, Convention. He also welcomed the peer review mechanism from IMSOT. “We at NIMASA have such a peer review arrangement with the United States Coast Guard, which has been highly effective in developing capacity for ISPS Code implementation.

We are working to extend the relationship to other countries.

This we believe will ensure that our personnel possess the requisite skills and competencies to execute their responsibilities in line with the mandate of the ICIR 2014. The importance of the exposure of our personnel to the legal regimes and security operations of other contracting governments is not lost on us”. He said.

While assuring the team that steps have been taken to address areas of concerns raised during their last visit in 2018, the NIMASA DG informed the IMSOT team that the Agency is also taking steps to tackle activities of pirates in the Gulf of Guinea through the Deep Blue Project initiative of the Federal Government, in addition to the Suppression of Piracy and other Maritime Offences (SPOMO) Act, which is gradually yielding results.

Speaking after a working visit to some Port Facilities in Lagos, the Deputy Head of International Maritime Security Operations Team, IMSOT, Jim Hamilton expressed satisfaction at the level of cooperation and synergy existing among Government Agencies in the Nigerian maritime industry adding that they will share knowledge with NIMASA to ensure optimum implementation of the ISPS Code in Nigeria.

Corporate Organizations Urged to Leverage Branding to Boost Revenue in Post COVID-19 Economy Hamid Ayodeji

As African brands surged 4 per cent to 17 per cent from all time low of 13 per cent in 2020, corporate institutions have been urged to leverage branding to boost their revenue after the devastating effects COVID-19 on their businesses.

This, the said, has becomes imperative as there is the urgent need to rebuild businesses and key into African Continental Free Trade Area (AfCFTA) which is aimed to drive greater intra-African trade.

Speaking at an event, Founder of Brand Africa, Thebe Ikalafeng pointed out

that as we emerge out of the pandemic and Africa seeks to assert itself, the results are very inspiring and bode well of an African renaissance led by competitive world class African brands.

“So companies must take advantage of these trends of growth the industry is showing after a declining period. After a five year decline, African brands have surged 4 percent to 17 percent from an all-time low of 13 percent in 2020 and 2021 in the 2022 Brand Africa 100, as well as Africa’s Best Brands survey and ranking of the best brand in Africa, ”he said.

Commenting on the data gathering process, the Director

of Research, GeoPoll, Bernard Okasi, said, “With increased number of countries and greater sample size this year, more than ever, and especially so during the pandemic, mobile proved to be the effective tool for us to reach and access respondents across the continent.”

On her part, Chief Growth Officer Africa Middle East for Kantar, Karin Du Chenne explained that despite volumes of brands analysed as a results of increased sample size in terms of respondents and countries, the survey continues to yield a very consistent picture of brands and trends that are transforming the continent.

Ecobank Updates Retail FXTransactions for Foreign Schools As part of its commitment to providing optimum banking experience, Ecobank Nigeria has shared updates to serve its clients better regarding retail foreign exchange transactions for international school fees, accommodation, and upkeep payments, as well as PTA/BTA requests.

The Head, Consumer Banking, Ecobank, a Korede Demola-Adeniyi in a signed statement said “Due to current market trends, we require a 30-day window to complete requests for school fees, accommodation, and upkeep, stating that part of the process involves a review of all documents to ensure compliance with regulatory requirements.

The statement added that “In order to ensure smooth service and allow disbursement of PTA/BTA within the timeline, we request that applications are submitted with the required documentation.”

For PTA/BTA, the requirements include duly completed Form A; duly confirmed return ticket; Nigerian passport bio-data page; letter of authority to debit account; valid visa to destination country and account should have been opened and operational for at least 6 months In addition to the above, the bank requires the following for BTA requests; letter of invitation

from the overseas partner, letter of introduction from the company stating the employee going on the business trip and certificate of incorporation For School fees, upkeep and others, “we require duly completed Form A; students valid Nigerian passport biodata page; letter of admission for course/programme; recent school bill; students valid visa/residence/study permit (for returning students); bank/remittance details of the school; photocopy of 1st degree (in the case of post graduate studies); evidence of relationship if fees are paid by a 3rd party and letter of authority to debit your account, among others.

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BUSINESSWORLD

NEWS

L–R: Chief Executive Officer, Wakanow, Mr. ayo Adedeji; Founder/Organizer, Akwaaba Africa Travel Market, Mr Ukechi Uko; Founder of Nike Art Gallery, Chief Nike DaviesOkundare; and Chief Executive Officer, Enish Nigerian Restaurant in UK and Dubai, Mr. Olushola Medupin, during the Get together organized for the three Travel and Tourism Brands at Nike Art Gallery in Lekki, Lagos… recently

SSBIFI: 70% of Workers in the Financial Institutions are Casual Ugo Aliogo The President, Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), Oyinkan Olasanoye, has stated that the financial institutions are reducing staff strength and working hours to cut down on operational cost while stating that about 60 to 70 percent of the workers in the financial institutions across the country are casual

workers.

She also stated that freelancing jobs dominate the work space while describing the current reality of industrial jobs in Nigeria as a state of manhour lost, unskilled labour acquisition and labour lost.

Olasanoye, who disclosed this yesterday in Lagos during media briefing, said this unprecedented labour lost in the economy is expected to create a solidarity economy

that would promote healthy work environment and decent jobs.

According to her, the youthful workers in the industry are struggling with the job market, hence, this has created more job loss and casualisation of employment in our IT conscious stage.

She said almost all the casual workers in banks are direct employees of an outsource company while stating that this is pointer to job insecurity

as many local companies and factories are currently not working.In her words: “I can tell you that 60 to 70 percent of the workers in the financial institutions are casual workers.

They are not employees of the banks or insurance companies, they are coming to duty with the attitude that they are temporary workers; they are coming with the attitude that they lack job security, so it will be easy for them to be used as Trojan horse.”

She further explained that over 70 percent of Nigerian workers in the financial institutions, including banks and insurance sectors are casuals, noting that many Nigerians mistake all workers in the financial institutions as permanent staff and as such, they are the ones committing internet frauds.

The ASSBIFI boss said bank workers are professionals with grounded ethics of the profession while disagreeing that

50 percent of financial crimes committed in the banking sector are done by sacked workers of some banks, said Nigerians generally are endowed with high skills and intelligence.

Regarding the prevailing high-wired internet frauds been perpetrated in the nation’s banking sector, she said majority of the workers in the sector are not staff of banks, insurance and other financial institutions, rather the outsourcing companies.

Ethiopian Airlines, Boeing Announce NCS Calls for Order for Five 7 7 7 Fr eigh ter s Automation of Electoral Chinedu Eze Ethiopian Airlines, the largest and leading aviation group in Africa, and its longstanding partner, Boeing Inc. has announced that the carrier is further expanding its all-Boeing freighter fleet with an order for five 777 Freighters (current freighters).

Ethiopian Airlines Group CEO Mr. Mesfin Tasew said, ”The addition of these five B777 Frieghters into our cargo

fleet will enable us to meet the growing demand in our cargo operation. While cementing our partnership with the Boeing Company with new orders, the growth of our freighter fleet takes the capacity and efficiency of our shipment service to the next level. We always strive to serve our customers with the latest technology aircraft the aviation industry could offer.

“Our Africa’s largest cargo terminal coupled with fuel efficient freighters and

well trained cargo handling professionals will enable our customers get the best quality shipment service. Customers can rely on Ethiopian for wide-ranging cargo services across five continents.”

Boeing’s market-leading 777 Freighter is the world’s largest, longest-range and most capable twin-engine freighter currently flying with 17 per cent lower fuel use and emissions compared to prior airplanes.

Ethiopian Airlines currently

operates a fleet of nine 777 freighters, utilizing the range of 4,970 nautical miles (9,200 km) and maximum structural payload of 107 tonnes (235,900 lb) to connect Africa with 66 dedicated cargo centers throughout Asia, Europe, the Middle East and the Americas. Ethiopian Cargo and Logistics Services covers 127 international destinations around the world with both belly hold capacity and dedicated freighter services.

Emirates Honours Nigeria’s Leading Travel Industry Agents in Lagos Chinedu Eze Emirates has successfully moved to strengthen the connection between the Middle East mega carrier, the Nigerian travellers and the hospitality industry The world’s largest international airline recently held an event in Lagos to recognise the services and ongoing partnerships of its top travel agents.

The event was the first to take place since the outset of the COVID-19 pandemic, and

gathered the industry’s best, reaffirming the airline’s ongoing commitment to the market and its longstanding partnership with its travel trade partners and their respective agencies.

The event included Lagos’s most prominent travel agencies, the airline’s top management, led by the Senior Vice President Commercial Operations in Africa, Badr Abbas who honoured the contribution of the travel agents to Emirates’ post-pandemic recovery

in characteristic style and elegance.

Commenting on reconnecting in person with the travel industry for the first time since the outset of the pandemic, Badr Abbas said: “Emirates airline and Nigeria share a very special relationship that goes back to almost 20 years, and we have been connecting Nigerian travellers to a global network which now spans nearly 130 destinations, making it easier to connect with friends,

family, trade and tourism opportunities.

“We have been eager to visit Nigeria, a market that is very important to us, to meet with the people that have supported us, even in the most difficult of times.

Throughout this journey, you, our loyal travel agents have been an integral part of our rebuilding efforts, for which we are extremely grateful.

We look forward to your continued support in the years ahead.”

Processes in 2023 Election

Emma Okonji

Following the irregularities in the selection of party delegates and the manner in which the delegates voted in the primary elections across all political parties, the Nigeria Computer Society (NCS), the umbrella body for all Information Technology (IT) practitioners in Nigeria, has called for the automation of electoral processes in the forthcoming 2023 general election.

President of NCS, Prof.

Adesina Sodiya, who made the call during an interview with THISDAY, said automation of electoral processes would help Nigeria to select credible leaders in all elections and address her insecurity challenges.

According to Sodiya, “As a body of Computer Professionals, we are not pleased with what is going on in our electoral processes, especially the manner in which party delegates were selected and the manner in which they voted in the primary elections. All we are seeing across board are primaries fraught with irregularities, where state governors have become so powerful to influence the selection of their party delegates and the manner in which the

delegates cast their votes. If you compare the Nigerian electoral system with that of developed counties, you will see that Nigeria is still far behind in election processes because technology is not driving the process.”

Sodiya further said: “The process for selecting party delegates in all the political parties has been parochial and hinged on money. It is high time Nigeria moves away from the parochial method of selecting delegates and from the voting pattern of the delegates, to an automated system of selection and voting of delegates that is driven by technology.

If we continue to neglect technology in driving our electoral processes, we will not be able to produce credible leaders from the various political party structures.”

Citing the population of Nigeria that is over 200 million people, Sodiya said over 100 million Nigerians have attained the voting age of 18 years, which means that if the process of producing credible candidates at primary elections is faulty, it will also affect the votes of the eligible 100 million adult Nigerians who will vote at the general election.

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T H I S D AY MONDAY MAY 30, 2022 Monday May 30, 2022 Vol 27. No 9913 TR

See page 32 OKOWA AND DELTA: SEVEN YEARS AFTER Delta State has recorded remarkable improvement in the last seven years, reckons RAY UMUKORO See page 32

IT IS ALWAYS ABOUT THE MOMENT Yemi Osinbajo is the man for the moment, contends SIMBO OLORUNFEMI See page 33

IYA YARD – KEEPING IT REAL JOY HARRISON-ABIOLA gives success tips for those who labour in God’s Vineyard See page 33

EDITORIAL NEW RULES ON DIGITAL ASSETS

See page 34

& RE A S O

N

opinion@thisdaylive.com

www.thisdaylive.com

FCT AND POOR SCHOOL INFRASTRUCTURE DORCAS EDET writes that many schools in the FCT suffer from infrastructural decay

UT H

Nigerians should ensure only people with track record of performance are voted into office, writes UGOCHUKWU EJINKEONYE

WHEN WILL NIGERIA’S RECLAMATION COMMENCE? President Muhammadu Buhari’s regime has about a year to hit its expiration point.

Perhaps, the only thing that still retains the capacity to squeeze out some smiles on a couple of faces today is the faint hope that WKH SUHVLGHQW PLJKW HYHQWXDOO\ IXOÀOO KLV SOHGJH WR ÀUPO\ UHVLVW WKH GHDGO\ DWWUDFWLRQ of that poisoned fruit called “tenure elongation.” Indeed, many Nigerians are willing to take the risk of entertaining the optimism that the Abuja regime might be able to overcome the temptation to allow this one promise make a bold appearance RQ WKH ORQJ OLVW RI XQIXOÀOOHG RQHV Despite the blizzard of outrageous claims roughly thrown at Nigerians every other day, it has become just impossible to muster any bit of expectation that this regime might still be able to shock Nigerians with any edifying impact on their lives before it exits. Perhaps, the only reassuring feeling out there emanates from the palpable wish for the days and PRQWKV WR GHYHORS ZLQJV DQG Á\ DZD\ VR fast so that with brightened faces and deep relief, Nigerians can happily embrace and congratulate one another that, eventually, the nightmare is over. The relief alone will be highly therapeutic, in fact, capable of increasing many lifespans.

Interestingly, this is one regime for which quite a number of Nigerians and nonNigerians had staked their well-cultivated reputations to saddle with a salvaging mission, without, however, pausing to determine whether the loud power mongers had, at least, a simple direction or the capacity to comprehend the most basic issues in governance, or even just a sincerity of purpose.

In fact, Barack Obama must be wondering how his administration got itself so easily seduced with drab propaganda that it had to naively advertise undue partisanship in Nigerian politics to aid the emergence of a regime under which everything a nation should hold dear and sacred has been so incredibly devalued, in fact, far below what anyone could have imagined was possible in a country with a constituted authority.

In their favour, Candidate Buhari and his party were quite unable to disguise the obvious fact that they were too absorbed with capturing power to bother about what to do with it, but, sadly, their intoxicated supporters were too infatuated and mesmerized to notice all the red ÁDJV $QG VR ZKHQ WKH ,QGHSHQGHQW National Electoral Commission (INEC) surprised them with the news that they have captured the presidency, for over six months, Nigerians could only watch a piteously dazed gaggle of power seekers still stuck in a campaign mood, dissipating excess energy attacking the former regime

and looking bewildered like kids that just received a complicated toy from Daddy.

And till today, the APC regime is yet to demonstrate that it possesses the FDSDFLW\ WR À[ WKH PRVW EDVLF SUREOHPV plaguing the country. It still seeks refuge in infantile propaganda aimed at stampeding Nigerians into the false belief, against the glaring evidence on the ground, that a failed country is up, working and ÁRXULVKLQJ %XW ZKDW LV FOHDU WR HYHU\RQH is: if some bit of edifying adjustment has occurred in the country in the past seven years, we would not require any statements, often couched in very clumsy SKUDVHV IURP $EXMD WR NQRZ If the APC regime had laboured, at least, to sustain the condition they met Nigeria in 2015, that in itself would have, in fact, amounted to a “monumental DFKLHYHPHQW µ $W OHDVW PDQ\ IDPLOLHV would still be able to purchase bags of rice DQG RWKHU IRRG LWHPV DW DͿRUGDEOH SULFHV instead of being callously tantalized with a distasteful celebration of “Rice Pyramids” which has not translated to a lower price of the commodity. Also, the naira would not be gasping for breath each time it made contact with other currencies, some of which held it in high esteem only a few years ago. Yes, several new, direct investments would have been welcomed in the country to boost the economy and provide employment to the teeming number of jobless youths.

At least, the National Grid would not have contracted the “falling sickness” (to quote Brutus in Shakespeare’s Julius Caesar), which regularly plunges the country into deeper darkness each time it collapses, killing industries by hiking the cost of production and joining hands with

Who wants to put his hard-earned funds in a country plagued by boundless insecurity and perennial darkness, where bandits, violent herdsmen and terrorists are treated with kid gloves instead of confronting them headlong and containing their menace?

worsening insecurity to drive away foreign establishments to even less endowed African countries. Was it not shameful that the other day, the federal government was complaining that Ghana and other African countries were persuading foreign investors to avoid Nigeria and come to their own countries? If Nigeria was conducive for business, would any investor need any persuasion to take his investment elsewhere? Who wants to put his hard-earned funds in a country plagued by boundless insecurity and perennial darkness, where bandits, violent herdsmen and terrorists are treated with kid gloves instead of confronting them headlong and containing their menace? Life has become so worthless in Nigeria. People are slaughtered, maimed or kidnapped every other day; communities are razed and sacked; women and girls are brutally violated with chilling regularity. The federal government is still content with the banal condemnations it issues each time these tragedies occur, the dry condolence messages it throws at the families of the victims and the perfunctory assurance that “everything will be done to bring the perpetrators to book.”

By the way, how many weeks did it take our smaller neighbour, Chad, under Idriss 'HE\ WR ÁXVK RXW %RNR +DUDP IURP KHU territory and even recover some Nigerian communities captured and annexed by the terrorists? Nigeria must by now be earning almost zero revenue from tourism. Is it not a huge shame that Nigeria still retains the star prize as the country with the worst electricity supply in the entire continent?

To compound matters, Buhari has ERUURZHG WKH FRXQWU\ LQWR YHU\ ÀQDQFLDO enslavement. Yet, there is almost nothing on ground to justify such humongous indebtedness that can only keep the country perpetually stuck in the sticky mud of retrogression. Only recently, Gen Ibrahim Babangida, once reputed to have supervised over the worst corrupt regime in Nigeria, boasted that given the dizzying reports of massive corruption emerging with revolting regularity from the APC UHJLPH KLV WKHQ ZDV D UHJLPH RI VDLQWV Should it then be shocking that anybody that is able to put some sentences together today wants to be Nigeria’s president?

The argument out there is: if Nigerians can endure the Buhari Kindergarten Show for eight years, then the presidency has VLPSO\ EHFRPH DQ DOO FRPHUV· DͿDLU ,Q IDFW WKH HQWU\ TXDOLÀFDWLRQ KDV EHHQ ORZHUHG WR ]HUR Ejinkeonye, a journalist and writer, is the author of the book, “Nigeria: Why Looting May Not Stop”

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T H I S D AY

MONDAY MAY 30, 2022

DORCAS EDET writes that many schools in the FCT suffer from infrastructural decay

Delta State has recorded remarkable improvement in the last seven years, reckons RAY UMUKORO

FCT AND POOR SCHOOL INFRASTRUCTURE

OKOWA AND DELTA: SEVEN YEARS AFTER

Recently, one of HipCity Innovation Centre’s Community Monitor sent in pictures taken in a couple of primary schools in the FCT. These pictures showed pupils learning under deplorable conditions. The classrooms were overcrowded and at least half the class was VLWWLQJ RQ WKH ÁRRU $FFRUGLQJ WR WKH 0RQLWRU the overcrowding was due to the fact that some of the school classroom blocks had had WKHLU URRIV EORZQ RͿ E\ WKH ZLQG OHDYLQJ WKHP exposed to the elements; and in a bid to ensure that the pupils do not completely miss out on their lessons despite the lack of functional

classrooms, the schools’ management crammed them in the few available classrooms to learn.

As you can well imagine, it was a sorry sight and particularly saddening to this writer who happened to have attended one of the schools growing up, some 18 years ago. Well, then the roofs were intact, even though like today, SXSLOV KDG WR PDNH GR ZLWK WKH ÁRRU VLQFH WKHUH were never enough desks to go round. In fact, ‘snagging’ a desk for the day used to be a major motivator of punctuality for us pupils, because the earlier you came, the higher your chances of sitting on a desk for the day. Little wonder in the four years I spent there, I could barely spell “is” and when at last my folks decided to do something about my poor educational and cognitive performance, I got enrolled in a private school.

Within the space of three months, which is one term, I had accomplished what I could not accomplish in four years in that public VFKRRO :KDW FKDQJHG" 1RW WKH FXUULFXOXP certainly, not even the teachers per say, but the environment. I moved from overcrowded classrooms to a classroom with less than 15 pupils. Everyone had a desk to sit on, one did not have to come to school early in order to ÀQG D GHFHQW SODFH WR VLW RU EH EXOOLHG RXW RI D sit by the “bigger boys”. Teachers knew every pupil personally - their proclivities, quirks, weaknesses and strengths because of the small class size. We also had swings and many other playground equipment to play with at breakWLPHV DQG P\ SOD\ URXWLQH FRXOG ÀQDOO\ PRYH beyond “suwe” and “tinko tinko”. Suddenly, VFKRRO VWRSSHG EHLQJ DERXW VWXͿ\ FODVVURRPV bullies, anxiety over sitting arrangements, QRLVH GLUW\ ÁRRUV ODFN RI EDVLF DPHQLWLHV OLNH water, electricity to power bulbs and fans and a functional toilet; it became fun. Where before, I had to be prodded to go to school, now, I could QRW JHW HQRXJK DQG RI FRXUVH LW UHÁHFWHG RQ my academic performance.

My story is an example of the importance of D FRQGXFLYH HQYLURQPHQW RQ WKH HͿHFWLYHQHVV of learning. As with any endeavor, the place of a comfortable environment cannot be

overlooked if the goal is to achieve any sort of success or positive result. This therefore leads one to wonder why something as pressing as a whole school block losing its roof should be allowed to linger to the point where the ideal classroom pupil to teacher ratio was compromised repeatedly. That is, if said ratio ZDV HYHQ PDLQWDLQHG LQ WKH ÀUVW SODFH EHFDXVH with these public primary schools, one can never be too sure. In my day, we could not have been less than 100 in any of the classes in the school and yet the highest we had then were two teachers to a class. Although the education guideline stipulates a 1:35 teacher to pupil ratio, it is also common sensical that the smaller the class, the easier for the teacher to perform his/ KHU GXW\ HͿHFWLYHO\ $ JRRG SXSLO WHDFKHU UDWLR is no doubt an apt measurement of the quality of education a child stands to get in any school.

Various international conventions and national legislations in both the state and federal levels agree that education is indispensable in the development of any nation and specify that basic education should be made compulsory and free. The most popular of such legislation is the Universal Basic Education Act 20041 which not only delineates government’s role and shares responsibility between the three tiers, but also highlights the role of parents/ guardians and how this basic education is to be ÀQDQFHG $FFRUGLQJ WR WKH $FW EDVLF HGXFDWLRQ starts from pre-primary to junior secondary school and the federal government is tasked ZLWK HQVXULQJ XQLIRUPLW\ DQG RͿHULQJ VXSSRUW to the state and local governments whose duty it is to provide this free education and ensure that every parent and guardian avails their FKLOGUHQ ZDUGV WKH RSSRUWXQLW\ WR EHQHÀW from the free education provided, or risk being sanctioned according to the provisions of the Act. The Act also made for the establishment of the Universal Basic Education Commission 8%(& WR RYHUVHH LPSOHPHQWDWLRQ DW WKH federal level and the State Universal Basic (GXFDWLRQ %RDUG 68%(% DW WKH VWDWH OHYHO The federal government is mandated to ÀQDQFH WKH 8%( WKURXJK D EORFN JUDQW RI DW least 2% of its Consolidated Revenue Fund, local and international donor grants, and funds in form of federal guaranteed credits.

However, these funds can only be accessed by the state government if they can themselves provide 50% of the total amount required to carry out their projects. Sadly, despite this available fund, the lack of infrastructure and basic amenities in schools across the nation DQG WKH )&7 VSHFLÀFDOO\ FDOOV IRU FRQFHUQ Most schools in the FCT were built in the 80s and 90s and many of them have never been holistically refurbished till date. Rather, what we see is the school management patching up leaking roofs, constructing makeshifts and mending sagging walls here and there or selfKHOS HͿRUWV RI WKH SDUHQWV WHDFKHUV DVVRFLDWLRQ in many of the public primary schools. Until the advent of COVID19, water, sanitation and hygiene concerns in schools were treated with so much levity, that it became common to see pupils urinating and defecating all around the school compound, especially in the backyards where waste are usually disposed. The truth is, what choice do these pupils really have, when in some cases there are no toilets at all and where there are, they are usually not functional or LQVX΀FLHQW WR FDWHU WR WKH VFKRRO·V SRSXODWLRQ" Edet LV 3URJUDP 2΀FHU DW +LS&LW\ ,QQRYDWLRQ &HQWUH $EXMD

7KHUH LV VR PXFK GLͿHUHQFH WKDW JRRG leadership can make in a nation, state, in fact, in any community. It’s the same with corporates.

Ifeanyi Okowa has proved this in his seven years as governor of Delta State.

Leadership coaches and experts from John C. Maxwell to Seth Godin, Jack Welch and Dale Carnegie all agree on one thing: Where there is good leadership, there is development. This best illustrates the story of Delta State. As a major oilproducing state, many expect the state to rank high in human development index, infrastructure, quality education, healthcare delivery and general

rural and urban transformation. Carved out from the old Bendel State on August 27, 1991 by the military government, Delta has struggled to improve the lot of the people.

1RW HYHQ WKH ELUWKLQJ RI GHPRFUDF\ LQ 1999 has helped to pull her from the stumps of underdevelopment. The military halo of negligence haunted the state and it showed on the dashboard of development that Delta needed a jab to spring her out of the doldrum of development stasis. By 2010, Delta was ranked WK LQ WKH 1DWLRQDO 3RYHUW\ ,QGH[ GDWD IURP WKH 1DWLRQDO %XUHDX RI 6WDWLVWLFV 1%6 7KLV PHDQW that Delta was 10th among the least poorest states, according to the data. However, the story changed when Governor Okowa mounted the saddle in 2015. As someone who has been around for decades in the state, he understood the needs of the people. He did not mince words during the electioneering days. He promised to run a people-centric government, create an ecosystem that would challenge the youth to unleash their creative energies to create wealth. He promised a SMART Delta. And Okowa, a man not given to noise-making and empty grandstanding, went to work.

Fast forward from 2010 to 2020. The narrative FKDQJHG LQ MXVW ÀYH \HDUV DV JRYHUQRU 6SHFLÀFDOO\ WKH 1DWLRQDO 3RYHUW\ ,QGH[ VDZ 'HOWD OHDSIURJ WR VHFRQG OHDVW SRRUHVW VWDWH VWDWH ZLWK ORZHVW QXPEHU RI SRRU SHRSOH LQ 1LJHULD 7KLV came as no surprise to many Deltans. Between 2020 and now, the state’s development fortune has continued to nose up courtesy of a carefully planned and painstakingly executed development roadmap of the Okowa government. ,Q WKH ODVW VHYHQ \HDUV WKH GLͿHUHQFH EHWZHHQ what Okowa inherited and what is today, is akin WR WKH GLͿHUHQFH EHWZHHQ GD\ DQG QLJKW 7KH gulf is as divergent as the variable between light and darkness. Yet, some persons masquerading as analysts and commentators, but who are indeed delusional ombudsmen, still scour the social media space to spew bovine criticisms all marinated with lies and fatuous falsehood. They say Okowa has done nothing. But that’s the lot of paid pipers and hungry hirelings. They dance

to the drumbeats of hell. They convulse on social media to convince their paymasters even when they know that their homily and hymnals are pathetic lies and jejune blabs of toxic propaganda. They serve no good.

Yet, they refuse to notice the obvious transformation of Delta in seven years of Okowa. Their bile blinds them to the network of roads and sturdy bridges and constellation RI LQIUDVWUXFWXUH WKDW QRZ GHÀQH WKH VWDWH D signature of the Okowa government which has earned bipartisan commendations from Vice President Yemi Osinbajo, Senator Bukola Saraki and other top politicians, including the clergy, traditional rulers and sundry professional bodies.

Okowa’s critics pretend not to notice the network of roads and sturdy bridges innervating the state, from riverine to XSODQG FRPPXQLWLHV )RU WKH ÀUVW LQ WKHLU history, riverine communities in Delta can now access other parts of the states through bridges. These critics turn a blind eye to the revolutionary rebirth of educational and healthcare delivery excellence in the state

by Okowa. Improved funding for education has necessitated the establishment of more technical colleges, universities, polytechnics and medical science institutions in the state which in the golden years of old Bendel was a model state for others in the country in HGXFDWLRQ DQG VSRUWLQJ UHÀQHPHQW Obviously, these critics bear logs in their eyes so they cannot see the urban renewal and infrastructural transformation in Asaba, Warri, Ughelli, Sapele and Agbor, the top ÀYH FLW\ FHQWUHV LQ WKH VWDWH 1HLWKHU ZRXOG they notice the ongoing makeover of rural communities, some of which have never had asphalted roads since their existence.

Perhaps, they need to be reminded that the tag Roadmaster placed on Okowa was earned, not a political title. Delta in her over 30 years history has never seen a governor so bullish with infrastructural development like Okowa.

Pity is the feeling for anyone who would see good and call it bad. And that’s the feeling for Okowa’s critics who fail to see the majesty of the Professor Chike Edozien Secretariat, sitting on 45, 000 square metres landmass. For a state that has never had a secretariat of her RZQ WKLV LV QRW RQO\ KLVWRULFDO EXW LW WHVWLÀHV to the truism that something good can come RXW RI 'HOWD $QG IRU WKH ÀUVW WLPH HYHU DOO WKH 27 ministries and their commissioners and permanent secretaries will be housed in one place specially designed and equipped with all the ergonomics of a modern workplace.

With nine seminar/conference rooms, a training room, clinic, creche, banking hall, three restaurants, car park with capacity to accommodate up to 1,000 cars, electricity supply powered by 8.5 Megawatts Asaba Independent Power Plant, internet-enabled systems, the Secretariat stands out not only as an architectural majesty and a worthy DGGLWLRQ WR WKH HPHUJLQJ PDJQLÀFHQFH RI Asaba landscape, it is also a model of what DQ R΀FH FRPSOH[ VKRXOG EH LQ D GLJLWDO DJH In seven years, Okowa has transformed Delta. Though it’s still morning on creation day but the auguries are bright and beautiful.

Umukoro writes from Warri

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T H I S D AY MONDAY MAY 30, 2022

Yemi Osinbajo is the man for the moment, contends SIMBO OLORUNFEMI

JOY HARRISON-ABIOLA gives success tips to those who labour in God’s Vineyard

IT IS ALWAYS ABOUT THE MOMENT

IYA YARD – KEEPING IT REAL

“It is my respected view that to build a new Nigeria, we need a new tribe; one tribe of men and women of all faiths, of all tribes, of all ethnicities committed to a country run on high values; high values of integrity, of hard work, of justice and of love of country.”

- Prof Oluyemi Osinbajo Without a doubt, the moment presently upon us is weighty in many respects. It is so, not just for the calibre of political gladiators presently in the ring, the moment is weighty because of where we are as a nation, with opposite tendencies seemingly at par, each with equal chance of overcoming the other, depending on the direction the pendulum eventually swings. A wrong step can tilt the balance in the wrong direction, which might push the country down a fatal slope.

Between the attendant challenges posed by the deteriorating security and climatic VLWXDWLRQ LQ WKH 6DKHO WKH WLGH RI WHUURULVP DQG WKH LQYHUWHG QDWXUH RI JOREDOL]DWLRQ PDQDJLQJ WKH HFRQRPLF ÁDQN ZLOO EHFRPH even more challenging, making it imperative WKDW WKH OHDGHUVKLS RI WKH FRXQWU\ FRPH be entrusted into a steady pair of hands ,QGHHG LW LV WKH PRQXPHQWDO VLJQLÀFDQFH that a wrong choice can birth for the future of this country that compels upon us a close attention to what the moment portends, such that our choices can be led more by a consensus forged around what it says than sentiments that are largely primordial and we end up shooting ourselves in the foot. The weighty nature of this moment compels upon us the need to not let the moment slip.

I have argued, with political history as guide, that it is always more about the moment than the man. That no matter how prepared a man might be or how long he has been at it, success often boils down to what WKH PRPHQW GHVLUHV DW WKDW VSHFLÀF WLPH $ ORRN DW 1LJHULD·V SROLWLFDO KLVWRU\ OLNH WKDW RI other countries, tend to suggest that those who emerge as political leaders tend to be more of products of the moment than of their own ambitions. Indeed, so weighty is the hand RI WKH PRPHQW RQ 1LJHULD·V SROLWLFDO KLVWRU\ that even in the era of military rule, most of the leaders who emerged, found themselves in power, not necessarily on account of their roles in the putsch, but based on consensus within the oligarchs around what the moment demanded.

1R PDWWHU TXDOLÀHG D PDQ LV KH FDQ HDVLO\ be consumed by the conspiracy of wrong timing, if the moment is not in his favour. Just as the moment, on its own, can pick on a man who is not as keen, so can it turn down another simply because the moment does not favour him. Indeed, a man might be well-prepared, he might have sown seeds near and far, but if the timing of his quest does not coincide with the colour of the moment, it will most likely be a labour in vain.

The moment is usually a child of FLUFXPVWDQFH Á\LQJ RQ WKH ZLQJV RI LWV RZQ volition at a higher altitude than the wheeling and dealing of everyday politics. It is beyond WKDW ,W FDQ ÀQG D ZD\ WR VLGHVWHS WKH URXWLQH machinations and manipulations, except where there is a coincidence of purpose or objective. Without the moment opening its ÁDQNV \RX FDQ KDUGO\ IRUFH D PDQ RQ WKH moment. Where force is applied, it is either he fails the moment, or the moment fails him.

The moment might have its eyes trained on the future, but it is a child of history. While

LV WKH IXWXUH LWV XPELOLFDO FRUG LV WLHG WR the political circumstances that played out EHWZHHQ DQG :KLOH WKDW PRPHQW might, at the time, have been taken as a standDORQH LQ 1LJHULD·V SROLWLFDO KLVWRU\ WKH SROLWLFDO JHRJUDSK\ RI WKH HOHFWLRQV ZRXOG WKURZ up future opportunities that neither gladiators nor strategists saw at the time of setting the WDEOH LQ DQG WKDW KDV QRZ EHFRPH WKH GHÀQLQJ IDFWRU IRU WKH HOHFWLRQV ,Q WKH SUHOXGH WR WKH HOHFWLRQV LW KDG EHFRPH HYLGHQW WKDW WKH WUDMHFWRU\ RI ZRXOG LQÁXHQFH WKH GLUHFWLRQ RI VR HͿRUWV ZHUH made to redirect the journey ahead of time, but they failed, as it is never easy to abort the moment once it takes on form. The moment always has a mind of its own.

Yet, this is not an argument that the moment is cast in stone, with gladiators expected to IROG WKHLU DUPV DQG JD]H DW WKH ÀUPDPHQW waiting for power to be served on a platter.

While the moment might be saying one thing, intervening variables or force majeure can force the hand of the moment in another direction for reasons beyond the original contemplation.

Of course, there are always those who will FKRRVH WR VWDQG XS WR WKH PRPHQW LQ GHÀDQFH no matter how eloquently contrary, its WRQJXH LV %XW WKH PRPHQW GRHV ÀQG D ZD\ WR DFFRPPRGDWH OHJLWLPDWH GHÀDQFH HLWKHU ÀQGLQJ UHVROXWLRQ IRU RU DURXQG LW ZLWKLQ the larger democratic framework or having the last laugh with its verdict. But where the LQVWUXPHQW HPSOR\HG LQ LQVWLJDWLQJ D GHÀDQFH of the moment is autocratic, the philosophy behind it is contrary to the spirit of due process or the result is anti-people, the consequences can be dire, as seen with the annulment of the -XQH HOHFWLRQV 'HI\LQJ WKH PRPHQW KDUGO\ has a happy ending. *LYHQ WKH SK\VLRJQRP\ RI 1LJHULD WKH geo-political contours that have become too familiar, the overbearing religious sensitivities we are contending with the current tide pushing people apart and the demands that the future is asking of us, it becomes imperative for the choice of the next President WR QRW EH UHGXFHG WR D ÁLPV\ ZKLPVLFDO RQH founded on emotion. I believe that the choice of the next President must be made with eyes wide open, with consciousness of the character and characteristics of the battle ahead. I believe that the moment speaks to the fact that the presidency, especially at this time, should be carefully entrusted into the hands of a steward prepared by circumstances and experience for a time such as this, with quality eyes trained on charting a path that will birth the kind of IXWXUH 1LJHULD DQG 1LJHULDQV WUXO\ GHVHUYH Olorunfemi works for Hoofbeat Dotcom, a Nigerian Communications Consultancy and publisher of Africa Enterprise

Iya YARD is the nickname given to the wife of a clergy in an Orthodox Church for the extraordinary care and attention they give to the upkeep of the Church yard and the Church community in general. I have had a few people fondly call me Iya YARD with a glint of unmistaken mischievousness in their eyes.

To be honest, I had a love relationship before I became Iya YARD aka Preachers Wife (“PW”). It was quite an intimate relationship.

The hot and spicy type. The type you never quite recover from, that makes you smirk often, asking; - “Is this for real?” If I am to be completely honest, often when it becomes very challenging being a PW, I still go there. I trace my steps right back there. Like in those dreary nights when you can hardly see any stars in the cloud. Those days when you are put on a stand or when you put yourself on the stand and you feel awkward. Those days when someone unwittingly twists the knife on a stab wound that you thought had healed and you feel the pain all over again.

Those days when a thousand demons seem to be mocking you and chanting, “go up, bald head,” “go up, bald head.” Those times when it feels that solace is elusive. At those WLPHV P\ IDOOEDFN LV WKDW DͿDLU , KDG DW , go there and when I go there, I bounce back.

I revive. The power to go forward comes to me. <RX VHH P\ MRXUQH\ LV D ELW GLͿHUHQW Everybody’s journey, no matter how similar, LV GLͿHUHQW <RX PXVW UHVSHFW WKDW $W , was the sweet and innocent Joy, with the constant simple “didi” hairdo. I do my “kpatewo” or “all back” hairstyle and I sit where I am asked to sit. However, I had a secret life which I could not share. One with the bully Viviana Dikenna in it, who can get WKH VKRHV RͿ P\ IHHW MXVW E\ DVNLQJ DQG , ZLOO lie to Mom that it was stolen on the school ÀHOG 2QH ZLWK .DFKL 2QXJZDHP LQ LW WKH \HDU ROG QHLJKERU ZKR ZDV JUDGXDOO\ luring me into sexual activities. One with WKDW FOHUN LQ WKH EXUVDU·V R΀FH WKDW , QHHGHG to avoid, the one with long distasteful manicured nails, constantly inviting me to KLV R΀FH ,Q P\ QRUPDO OLIH , ZDV LQ 1166 grappling with school work, trying to cope with my “burgee” (bourgeoisie) friends and with Mom who always insisted we are at Church three times a week.

5HPLQLVFLQJ , KDG D IXOO OLIH DW 7KHQ .DFKL 2QXJZDHP JRW VLFN DQG GLHG VXGGHQO\ , OHDUQW IRU WKH ÀUVW WLPH ZKDW death and fear were. You see, we had become FORVH 7R FRQVROH P\VHOI DQG ÀOO WKH YRLG , gradually slipped into masturbation. Mom who had been ill of acute ulcer (who we ZRXOG ZDWFK UROOLQJ RQ WKH ÁRRU ZULWKLQJ LQ pain, in constant fear of losing her) became born again – she took the decision to complete dedicate her life to the Lord Jesus Christ and she got healed miraculously. Till this date, Mom’s before and after are still very clear in my mind.

That was when it happened. I met him. I really met him. There was no go between. It was just us. Lying on my bed in the middle of the night. I saw an apparition. He introduced +LPVHOI DV -HVXV RI 1D]DUHWK , NQHZ DERXW +LP , KDG ÀYH \HDUV RI 6XQGD\ VFKRRO XQGHU my belt. He showed me His wrist, pierced ² D KROH WKURXJK LW 6KRZLQJ LW WR PH , ZLOO QHYHU IRUJHW +H VDLG ´6HH WKLV LV DQ HWHUQDO proof of my love for you.” I felt so much

light and love pouring through me. That ZDV WKH QLJKW RQ -XQH UG , ZHQW RQ my knees beside my bed, alone, weeping uncontrollably and gave my life to Jesus Christ. Handed control over to Him. I was not led by anyone. After doing that, I laid back and slept. I woke up the following PRUQLQJ ZLWK D FRPSOHWHO\ GLͿHUHQW feeling, outlook, and determination. I was RQO\ 7LOO WRGD\ , GR QRW XQGHUHVWLPDWH \HDU ROGV Mom did not need to force me to go to Church anymore. I took my Assemblies RI *RG 6XQGD\ 6FKRRO FODVVHV &KULVW Ambassador and Missionnette Bible schools very seriously. I spent the next four years in intense pursuit of God. On my back, on my knees, mostly alone with my William 6FKDPEDFN 0DU\ 0FNHH WDSHV DQG P\ %LEOH $W , ZDV DOUHDG\ LQ WKH 8QLYHUVLW\ DV D 6WXGHQW &KULVWLDQ 8QLRQ OHDGHU Being a PW in an African Church can be very demanding. More so if you have a career separate from Church work, like 3ULVFLOOD LQ 6FULSWXUHV &KXUFK PLQLVWU\ LWVHOI LV D GHPDQGLQJ MRE 6XGGHQO\ HYHU\RQH LV calling you, “Mummy,” even people that are much older than you, which in my view is added pressure. You are expected WR EH HYHU\RQH·V 0RWKHU 6LVWHU IULHQG DQG PD\EH FRQÀGDQW <RX DUH H[SHFWHG WR model perfection but you are not perfect.

Below are a few advisory from my journey so far – One, understand and accept that you are not perfect yet. You are not the perfect wife, mother, daughter, sister, prayer warrior, singer, teacher/preacher, administrator, counsellor, etc. You are a good work in progress. You struggle. Do not be afraid to show you are human. I know I am not the best cook or housekeeper. I know I am not the best manager of time. I know I am not the most diligent. I am trying to be. Just bring your best self to the job.

Two, do not take on stereotyped roles that you know you are not good at. That you are the PW does not mean you must be the Women leader and a Pastor too. Play to your strengths. However, “to thyself be true” is not an excuse for mediocrity. You must be constantly learning, up skilling and updating yourself. You cannot compromise on prayer and the word. You cannot be a novice either. Be teachable. Be creative but be You, not someone else. Be a great listener.

Learn to love people sincerely. You will need a large heart to contain many tales. Develop your people skill. Learn to give counsel but be ready to point them to the right person or place when you do not have the answer. , KDYH EHHQ D 3: IRU RYHU \HDUV DQG GR not have all the answers, believe me. I have more questions each day.

Three, be very careful of accolades.

6RPHWLPHV \RX JHW VR PXFK KRQRU WKDW you do not know what to do with it. It is not really because of you. It is because of WKH R΀FH \RX RFFXS\ ,W LV EHFDXVH RI WKH job and our culture of respect. That is when you should be more careful and practice humility. You will also meet people who do not believe you qualify for the job and as much as they may try to hide it, it may show in more ways than one.

Harrison-Abiola is a leading legal management professional

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T H I S D AY

MONDAY MAY 30, 2022

EDITORIAL

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

NEW RULES ON DIGITAL ASSETS Even though the new guidelines appear favourable, there must be adequate safeguards against criminality

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sing peer-to-peer networks, Kucoin in April 2022 reported that 33.4 million Nigerians traded or owned crypto assets despite restrictions on cryptocurrency transactions by the Central Bank of Nigeria (CBN). In the same month, Paxful, another crypto trading platform, rated Nigeria as the largest crypto-trading country in Africa with a volume exceeding $760 million in 2021. According to Paxful, in the same year, Nigeria recorded over 16,000 trades across the country each day. Many reasons account for the increasing resort to trading in digital assets in the country, one of which is to hedge against the precipitous loss of value of the local currency.

Apparently due to the increasing volume of trading, and as part of its HͿ RUWV WR UHJXODWH GLJLWDO virtual assets such as Bitcoins and non-fungible tokens (NFTs), the Securities and Exchange Commission (SEC) recently issued guidelines on their issuance and custody LQ WKH FRXQWU\ 7KH GRFXPHQW FODVVLÀ HV GLJLWDO DVVHWV such as Bitcoin and other crypto assets as securities that are regulated by the commission.

The new rules appear to be a consummation of SEC declaration two years ago to take a three-pronged approach to regulating innovation in the crypto sector, including safety, market deepening and providing solutions to problems. The new guidelines which GHÀ QH GLJLWDO DVVHW DV ´D GLJLWDO WRNHQ WKDW UHSUHVHQWV assets such as a debt or equity claim on the issuer,” are LQ À YH SDUWV %XW WDNHQ WRJHWKHU WKH\ HͿ HFWLYHO\ OHJDOLVH digital assets such as cryptocurrencies and NFTs in Nigeria, which were hitherto prohibited by the CBN. But there are questions as to whether these guidelines IRU WUDGLQJ LQ FU\SWR DVVHWV FDQ VWDQG HͿ HFWLYHO\ ZLWKRXW the concurrence of the apex bank.

At its last Monetary Policy Committee (MPC) meeting, the CBN had been expected to take a position on the

new SEC regulations on digital assets, but that was not to be. Meanwhile, in February 2021, following the October 2020 ‘EndSARS’ protests, the CBN had issued D UHPLQGHU WR EDQNV DQG RWKHU À QDQFLDO LQVWLWXWLRQV WR prohibit dealings and payments in cryptocurrencies.

That action led to calls on the SEC to clarify whether there was a contradiction in the policies of the two regulators. Consequently, SEC said it would partner with the CBN to analyse and better understand the LGHQWLÀ HG ULVNV RI FU\SWRV WR HQVXUH WKDW DSSURSULDWH regulations are put in place if transactions in crypto assets were allowed in future. It was on that basis that SEC suspended the approval of cryptocurrencies and related products after the CBN ordered banks to terminate accounts connected to digital assets.

In the light of the foregoing, there are salient posers arising from the issuance of the new guidelines. In coming up with the new guidelines, did the SEC follow through its assurance to partner with the &%1 WR DQDO\VH DQG EHWWHU XQGHUVWDQG WKH LGHQWLÀ HG risks of cryptocurrency to ensure that appropriate regulations are put in place? Since the CBN directive to À QDQFLDO LQVWLWXWLRQV WR WHUPLQDWH DFFRXQWV FRQQHFWHG WR digital assets subsists, how are the new SEC guidelines expected to operate? Are there adequate safeguards against associated risks in digital assets trading?

Part of the fears against digital assets is the potential to provide incentives for criminal elements, including terrorism sponsorship. Coming at a time the International Monetary Fund (IMF) has called for the development of a new public infrastructure to connect various payment systems, including digital currencies, the timing of SEC’s new guidelines appears auspicious, but there must be fool-proof measures and adequate safeguards to checkmate possible infringements against investors as well as criminality. We hope that SEC has worked with the CBN to put those measures in place before the new rules were released to the public.

In coming up with the new guidelines, did the SEC follow through its assurance to partner with the CBN to analyse and better understand the identified risks of cryptocurrency to ensure that appropriate regulations are put in place?

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 THE CASH AND CARRY DELEGATES 7KH À UVW VLJQDO ZKLFK LQGLFDWHV WKDW JHQHUDO HOHFWLRQV ZLOO go for the rich or wealthy class is the cost of nomination forms of the two dominant parties. The ruling APC and opposition PDP pegged the price of their forms at N100million and N40million respectively. Notwithstanding, the high cost of forms has neither deterred nor discouraged our politicians. Thousands of aspirants EHVLHJHG WKH SDUWLHV· R΀ FHV WR REWDLQ WKHLU IRUPV %\ WKH WLPH WKH sales of forms were closed, the two political parties had raked in billions of naira. Though, the increase in the price of forms came at a wrong time when the country’s economy was bad and had attracted mixed reactions from Nigerians, no any political parties VDZ WKH ZLVGRP WR UHGXFH RU PDNH LW DͿ RUGDEOH WR PDQ\ 1LJH rians. During the primaries, aspirants have to meet the delegates and solicit for their votes. In the past, it took aspirants little time and token to convince or woo delegates.

7KHUH LV QR GRXEW JHQHUDO HOHFWLRQ ZLOO EH TXLWH GLͿ HU ent from the previous ones. The delegates who sometimes vote aspirants with little money, conviction or based on recognition have suddenly become kings. The ongoing parties’ primaries have shown only the money bags politicians can win. Delegates

who are supposed to select competent and saleable candidates for their political parties have abandoned such role. Instead, delegates now look for politicians who will give them more cash in exchange of their votes. The struggle for who will clinch or get KLV KHU SDUWLHV WLFNHW LQ WKH MXVW FRQFOXGHG 1DWLRQDO $VVHPEO\ and gubernatorial primaries witnessed the splashing of naira and dollars to the delegates in many states. Delegate in hottest contests reportedly got between N500,000, N2million and in some cases even higher. No wonder, former Senator Shehu Sani, who aspired to get his party’s ticket, could only muster two delegates at the end of the primaries. But the former senator must have shot himself right from the beginning. Prior to the primaries, Sani boldly told the delegates he did not have money to splash on them.

The monetization of Nigerian democracy will not augur well to the growth and development of the country. For someone to ZLQ DQ HOHFWLRQ LQ 1LJHULD KH QHHGV WR KDYH À QDQFLDO PXVFOH WR purchase the exorbitant form, bribes delegates with naira and dollars and above all, induce voters during elections. With politicians spending huge resources before they can win an election,

Nigerians should expect little democracy dividends from them.

While our electoral laws have stated the required minimum camSDLJQ IXQGV LW LV VLOHQW RQ WKH SROLWLFDO SDUWLHV· SULPDULHV À QDQFH where the highest bidders carry the day. One of the implications of monetization of delegates system is the recruitment of incompetent candidates into the various leadership positions. The delegates always go for higher bidders whether the candidate is qualLÀ HG RU QRW 7KH DWWHPSW WR UHIRUP RXU HOHFWRUDO ODZV E\ 3UHVLGHQW Muhammadu Buhari which would have allowed political parties WR DGRSW GLUHFW SULPDULHV PHW VWLͿ RSSRVLWLRQ IURP WKRVH ZKR IHOW the system would not favour them.

The Nigerian conversation should centre on qualitative leadership recruitment and how the country can develop economically, socially and politically and not monetization of our democracy.

The delegates should know or bear it in mind that by collecting huge funds and electing incompetent candidates, they are indirectly mortgaging the future of our children.

Ibrahim Mustapha, Pambegua, Kaduna State

T H I S D AY • MONDAY, MAY 30, 2022

35

This Week In Tech Tech Top 5 News 08097710984

NCC APPROVES ELON MUSK’S STARLINK LICENSE TO OPERATE IN NIGERIA igerian Communications Commission (NCC) has approved the licence of Starlink, a satellite internet constellation operated by SpaceX, to operate in Nigeria.

Elon Musk tweeted this announcement via his Twitter handle as the company has been providing satellite Internet access coverage to 32 countries.

Starlink provides high-speed, low-latency broadband internet across the globe. Orders are fulfilled on a first-come, first-served basis within each coverage area.

The company received two licences, the International Gateway licence and the Internet service provider (ISP) licence, and will be trading as Starlink Internet Services Nigeria Ltd. According to NCC, the International Gateway licence has a 10-year tenure, while the ISP licence lasts five years. Both licenses take effect from May 2022 and may be renewed after the expiration.

With high speeds and latency as low as 20 minutes in most locations, Starlink enables video calls, online gaming, streaming, and other high data rate activities that historically have not been possible with satellite Internet.

Users also have the option to take Starlink with them via the Portability feature or Starlink.

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ICT SECTOR CONTRIBUTES 16% TO NIGERIA’S GDP IN Q1 The Information and Communications Technology (ICT) sector made a 16.20 per cent contribution to Nigeria’s gross domestic product (GDP) in the first quarter of 2022.

According to a new report by the National Bureau of Statistics, the Information & Communication sector in the first quarter of 2022 recorded a growth rate of 12.07 per cent in real terms, year-on-year. From the rate recorded in the corresponding period of 2021, there was an increase of 5.60 per cent. Quarter-on-Quarter, the sector exhibited a growth of -9.09 per cent in real terms, revealing that the information and communication sector outperformed the agricultural and manufacturing sectors.

The agricultural sector in the first quarter of 2022 achieved a 3.16 per cent growth (yearon-year) in real terms. This is an increase of 0.88 per cent from the corresponding period of 2021 and a decrease of 0.42 per cent from the preceding quarter, which recorded a growth rate of 3.58 per cent.

It grew on a quarter-on-quarter basis at -28.90%.

The non-oil sector comprises economic activities in Information and Communication, Agriculture, Mining & Quarrying, Manufacturing and Education etc.

NBS data revealed that the non-oil sector – in real terms – posted a 93.37 per cent contribution to the nation’s GDP in the first quarter of 2022. This represents a 2.62 points increase to the share recorded in the first quarter of 2021 – 90.75 per cent.

According to the report, the non-oil sector grew by 6.08 per cent in real terms during the reference quarter (Q1 2022). This rate was higher by 5.28 per cent points compared to the rate recorded in the same quarter of 2021 and 1.34 per cent points higher than the fourth quarter of 2021.

The ICT sector posted a significant contribution – 16.20 per cent – to the impact made by the non-oil sector in the Nigerian GDP Report Q1 2022.

FG SECURES DEAL TO CREATE DIGITAL MARKETPLACE FOR CREATORS The Federal Government has secured a three-year exclusive Intellectual Property Right (IPR) deal with Developing Africa Group (DAG).

With the newly-secured agreement with DAG, Nigerian photographers, actors,

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Tech Personality of The Week CONFIDENCE STAVELEY

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his week’s tech personality is the Founder and Executive Director of CyberSafe Foundation, Confidence Staveley.

Cybersafe Foundation is a NonGovernmental Organisation on a mission to facilitate pockets of changes that ensure a safer internet for everyone with digital access in Africa.

Through their flagship initiative, #NoGoFallMaga, they have in the recent past launched cybersecurity awareness campaigns reaching over 20,000,000 people, organised cybersecurity awareness training for over 4,000 small and medium-sized enterprises (SMEs), and educated over 9000 employees of these organisations, and launched Africa’s first storified cybersecurity awareness.

NoGoFallMaga is a national movement of young people to combat preventable digital fraud with consumer-centred sensitisation and education.

They also recently launched the Pan-African cybersecurity awareness tool called The Sabi Toolkit.

This tool provides the user with proactive preventive measures and practical steps to stay safe as they navigate the digital world. Confidence is also passionate about closing the gender gap in technology and has launched two initiatives: DigiGirls and CyberGirls.

With Cybersafe Foundation as an implementation partner and in partnership with the UK, FCDO and KPMG, she played a major role in launching a cybersecurity toolkit for SMEs in Nigeria.

Staveley won Cyber security Woman of the Year 2021 and was included as one of the top 50 women in cyber security Africa 2020 finalists.

Staveley secured over £100,000 from the UK government’s funding for cyber security. She was recently a speaker at the world bank’s first cybersecurity event, the ‘DiGiTalk’ Series. and other creators can now sell their registered Intellectual Property (IP) for royalties and proceeds.

This agreement would see Nigeria develop its official platform and launch a nationwide wallet where people upload any form of IP rights; sell or exchange them abroad while collecting royalties and proceeds in digital tokens or cryptocurrencies.

According to reports, the agreement covers trademarks, patents, and copyrights such as songs, lyrics, videos, shows, lectures, podcasts, and all forms of streamable content created and registered within the country.

This development came up two weeks after the Securities and Exchange Commission (SEC) released its longawaited Digital Asset regulation to guide how digital assets such as cryptocurrencies are regulated in the country.

DAG CEO Ben Oguntala said the IP platform would be built on the Algorand Blockchain, which provides the performance, scalability, security, and functionality required to implement such a large-scale project but is also environment-friendly.

He further revealed that they selected an Argentina-based software company, Koibanx, as the tokenisation and payments engine for the platform.

UBER HITS ONE BILLION RIDES IN AFRICA Uber has announced hitting a milestone of one billion rides in Africa nearly ten years after its debut on the continent. It has also covered about 10 billion kilometres of distance across the continent.

The ride-hailing giant, which made

this announcement in a statement recently, explained that the app doesn’t just support entrepreneurs and mobility but also makes mobility more affordable for the people on the African continent.

Uber is now present in seven other countries in Africa and has expanded to thirty cities across its major markets this year, including over 21 cities in South Africa, two cities in Ghana, and four cities each in Kenya and Nigeria (Uyo, Warri, Enugu and Kano).

Uber and Uber Eats have collectively reached over thirty million riders and eaters in SubSaharan Africa (SSA) during the same period.

In a statement, the Head of Communications, East and West Africa, Uber, Lorraine Onduru, said, “Since entering the market in 2013, we have created over six million economic opportunities in over fifty SSA cities that we are present in.

We pride ourselves in building locally using global expertise. Each country’s needs are unique, so we take the time to understand each of the market’s needs so we can be responsive and adapt accordingly.”

The company also shared that the most popular time users requested rides was 2:00 p.m, Friday was the most popular day users requested rides, the average trip time was 24 minutes, the longest recorded trip was over 492km, and the most popular drop-off destination was the OR Tambo International Airport in Johannesburg, South Africa.

The company’s first-quarter earnings report showed that the company doubled revenue to over

$6.9 billion compared with the first quarter of last year.

AUTOCHEK ACQUIRES KIFAL AUTO, EXPANDS TO NORTH AFRICA Nigerian automotive technology company Autochek has acquired Morocco’s KIFAL Auto for an undisclosed amount.

This acquisition represents one of the first major expansions of a West Africa-based start-up into North Africa. It facilitates effective Pan-African collaboration to drive innovation across the continent’s growing automotive market.

Autochek is an automotive technology company making car ownership more accessible and affordable across Africa, while KIFAL Auto facilitates the purchase and sale of used cars, covering financing, warranties, insurance, and other services.

Commenting on the acquisition, Autochek CEO and co-founder Etop Ikpe explained that he was excited about this new partnership and was looking forward to a long and mutually beneficial relationship for years to come.

“The first interaction with Nizar and his team at KIFAL Auto, I was so impressed by their passion for delivering effective solutions and their commitment to innovation. They have built an excellent platform, and we are thrilled to have them onboard at Autochek to support the work we are doing to improve the automotive finance value proposition in Africa. There are so many parallels in our individual stories,” he said in a statement.

Autochek has existing operations across West and East Africa (Nigeria, Ghana, Ivory Coast, Kenya, and Uganda), with over 1,500 dealers as partners across its markets.

It also has partnerships with more than 70 financing partners, including Access Bank, Ecobank, and UBA.

36

T H I S D AY ˾ MONDAY, MAY 30, 2022

HOMES&DESIGN The Audacity Skyline Illuminates into Eko Atlantic

MONDAY, MAY 30, 2022 ˾ T H I S D AY

37

HOMES&DESIGN

Eko Atlantic And The Audacity Skyline The 100-storey skyscraper known as The Audacity Skyline by LandWey Investment Limited is a proposed edifice that will rise high above other sturdy structures in Eko Atlantic City, Lagos, Bennett Oghifo writes

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he Audacity Skyline, a hundred storey building, complete with all the luxury accessories that should fit into a facility of that stature, will adorn the famous Eko Atlantic City off the Atlantic coast in Lagos. Audacity is conceived and designed as a mixed-use high-rise with beautiful penthouses, apartments, a nursery area, and a gym, presenting an unfettered panoramic view of the city, Victoria Island and the Atlantic Ocean.

The very thought of actualising this tall building is shocking but exciting, as it will be the first of its kind in the growing city.

The edifice has “magnificent designs that take your housing experience from zero to hero.”

This iconic high-rise results from a detailed building design and construction process serving the highest living, leisure and work standards.

The Audacity has one, two and three-bedroom apartments ideal for “a go-getter, fun lover, or a family seeking convenience, pleasure and the urban lifestyle.

In addition to the pent-houses, there will be commercial spaces and multi-level parking, and construction is expected to start in August this year and will be complete in two years.

The proposed Audacity Skyline will be built on 3,500 square metres of prime land, according to Landwey, which operates in the commercial and residential property market.

The Audacity defines fitness at its peak, LandWey officials said.

It is about “redefining wellness from the Zenith.” The audacity gym is swamped with ultramodern gym tools and generous space suited to welcome you with jaw-dropping views leaving you spoilt for choice.

The facility has a spa and sauna in excellent quality. Peace and relaxation “is the hallmark” at The Audacity.

The pent lounge and pool provide an escape from the buzz and fuss of Lagos’ everyday life routine. It is a place to meet, with separate sitting, recreation, and play corners.

38

T H I S D AY ˾ MONDAY, MAY 30, 2022

HOMES&DESIGN

Going Green: The Benefits of Bringing the Outdoors In

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e have all felt the calming benefits of being outdoors, surrounded by greenery, and most of us could probably do with getting out into nature more often. Getting outside for our daily dose of green can sometimes be quite tricky with the demands of work and life, and especially if you don’t have your own outdoor garden. A simple solution is to make your indoor space a green one!

There is a substantial amount of evidence out there showing that indoor plants are very beneficial to our health and wellbeing. The positive effects of indoor plants have been demonstrated in a variety of settings including offices, hospitals,

school classrooms and our homes. These effects include; greater productivity, fewer sick days and reduced levels of stress. Indoor plants can also help in other ways - Improve air quality (by helping to purify the air), help fight the phenomenon of Sick Building Syndrome (SBS), reduce carbon dioxide levels, increase humidity, reduce airborne dust levels, help keep air temperature down and reduce background noise.

It is only natural to want the air we breathe to be the best quality possible, and plants can help us do this. Many of the air pollutants we are exposed to daily are associated with a variety of harmful symptoms suffered by

those exposed to them, especially over the long term. These include: Trichlorethylene, benzene, xylene, and ammonia. These chemicals are released from many everyday objects around the home and workplace. Inks and dyes, varnishes and paints, fabrics, rubber, leather, and cleaning products. Houseplants have been shown to help reduce the levels of these chemicals in the air. This not only improves air quality, but also reduces the risk of unwanted symptoms associated with exposure. All plants help improve indoor air quality, but some are better at it than others.

These include: r "MPF 7FSB r *WZ EFWJMT JWZ &OHMJTI JWZ r .PUIFS JO MBX T UPOHVFr 3FE &EHFE Dracaena r 8FFQJOH àH r $ISZTBOUIFNVNT r #BNCPP 1BMN r #SPBEMFBG -BEZ 1BMN According to research done by the Silverado 3PVOEUBCMF B HSPVQ PG XPSLQMBDF HSFFOFSZ experts) having plants nearby helps impress clients, attract talent, increase energy, enhance productivity, reduce fatigue and improve mental health.

1MBOUT BOE JOEPPS HSFFOT DPOUSJCVUF UP the positive emotional well-being of the workforce. According to the World Health Organization, 19% of the factors affecting our health and well-being are directly related to the environment in which they are built, and architects and designers make a significant contribution to the protection of public health. This creates a valuable PQQPSUVOJUZ UP HFU UIF NPTU PVU PG JU 1FPQMF have found themselves happier and more productive when working from home in a safe BOE DVTUPNJ[BCMF FOWJSPONFOU &NQMPZFFT want to stay comfortable, and employers want people to work together again in a fair environment for everyone.

Workers who want to work in-office again need a space that allows them to do that.

1MBOUT BSF BO FTTFOUJBM QBSU PG B IFBMUIZ working environment, and it is key for design professionals to incorporate more greenery into the office remodelling process,

post-pandemic. It is about creating the healthiest, most comfortable yet productive environment for the workplace as the public health crisis recedes.

Indoor plants reduces health risks such as anxiety, stress, headaches and effects of noise. &WJEFODF IBT TIPXO UIBU UIF IFBMUI CFOFàUT PG living and green walls can’t be overemphasized, concluding that simply being surrounded by greenery has a calming effect. This is known as the biocompatibility hypothesis and suggests that humans “strongly react to natural shapes, processes and patterns.”

Whether it’s a green roof or a living wall, there are ways to design spaces for even greater health benefits. For example, growing fruits and vegetables on rooftops and integrating herb gardens into wall units support not only a balanced diet, but also clean air and wellbeing. You can plant plants and seeds to create patterns, logos, or images, each of which is unique to your customer. A study focusing on the relationship between acoustics and health also concludes that improving acoustics can lower blood pressure and reduce stress. It is also supported by green walls and green roofs as the plants reflect and absorb sound energy. Therefore, by incorporating more green into the design of the building, the noise and reverberation of the city can be reduced, the office becomes a quieter work space, and the house allows the occupants to sleep soundly.

Now that our society has a better understanding of mental health, air pollution and acoustics, we need to design buildings that reflect this. A good way to support this is to incorporate more green, whether internal or external. This not only supports the health of the inhabitants, but also has environmental benefits.

There are never too many foliage plants, but it is also important to make sure that the house is physically and visually connected to the PVUEPPS HSFFO TQBDF $SFBUJOH TUSPOH JOEPPS BOE outdoor connections means that you will always be surrounded by green landscapes, inviting more natural light and a refreshing breeze to your home, bringing all these health benefits to bear.

1MBOUT DBO SFBMMZ JNQSPWF UIF PWFSBMM MPPL PG B space. Hardly anyone wants to work or live in a plain, boring, sterile environment, surrounded by white walls. The introduction of green plants adds color to the office. Of course, flowering plants bring even more colour.

In summary, adding green space to the workplace PS IPNF IBT OVNFSPVT CFOFàUT 1MBOUT DBO SFMJFWF stress, make you happy, increase productivity, make your space more beautiful, improve air RVBMJUZ BOE QSPWJEF DPNGPSU $IPPTF ZPVS GBWPVSJUF plants and see how they make a difference in your space. Whether you’re just putting a few plants on your desk or designing an entire green wall, the possibilities for designing a green space at work and home are endless.

MONDAY, MAY 30, 2022 ˾ T H I S D AY

39

BUSINESSSPECIAL

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

Gua r d in g a g a i n s t Il l e g al Financial Market Operators Obinna Chima writes on the need for Nigerians to become security conscious and be able to identify fraudsters and fraudulent investment schemes

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overty, lack of financial literacy and greed have been identified among the reasons for the growing number of persons that fall for the activities of illegal investment companies as well as Ponzi scheme operators.

In addition, the undying and unrestrained appetite for get-rich-quick syndrome has also seen operators of such schemes swindle unsuspecting members of the public. Ponzi scheme operators also capitalise on the harsh economic environment to offer unrealistic returns on investments to gullible persons with Nigerians reported to have lost billions to criminals masked as investment portfolio managers. These illegal schemes have also expanded through the use of online services.

Unfortunately, there had been reported cases of retirees who have fallen victims by mistakenly ‘investing’ their severance package on such schemes and are either heartbroken or had been forced to commit suicide.

A Ponzi scheme, according to Investopedia, is a financial arrangement where investors contribute money to portfolio managers who promise them high return and are paid out with the incoming funds contributed by later investors. It is closely related to a pyramid because it revolves around continuous recruiting, but in a Ponzi scheme the promoter generally has no product to sell and pays no commission to investors who recruit new members. Instead, the promoter collects payments from a stream of people, promising them all the same high rate of return on a short-term investment.

In the typical Ponzi scheme, there is no real investment opportunity, and the promoter just uses the money from new recruits to pay obligations owed to longer-standing members of the program. The Mavrodi Mondial Movement (MMM) which saw Nigerians lost billions of naira is an example. Other Ponzi schemes to which many Nigerians had in the past lost monies included the popular Nospecto, Galaxy Transport and Famzhi Interbiz Limited, MBA Trading & Capital Investment Limited, Imagine Global Solutions, Chinmark Investment, Chymall, among several others.

Indeed, the pervasiveness of Ponzi schemes undermines regulatory efforts in developing the capital market, and also negatively impacting investors’ confidence.

That is why regulators have continued to use every opportunity to warn Nigerians against the activities of these corporate fraudsters.

For instance, the Central Bank of Nigeria (CBN) had issued several cautions, warning unsuspecting members of the public to beware of the so-called financial providers who’ll go at great length to induce and deceive prospective customers with mouth-watering returns that cannot be matched by authorised and registered institutions and operators in the financial services playing field.

The CBN has also through its Financial Services Regulation Coordinating Committee (FSRCC), been advising and persuading Nigerians to stop dealing with such firms.

The FSRCC had stated: “The general public is advised to refrain from dealing with unlicensed or illegal financial operators, who lure and defraud unsuspecting members of the public by offering extra-ordinary returns on investments as bait,” and had called on members of the public to visit the websites of the CBN, the Securities and Exchange Commission (SEC) and other relevant member agencies of the FSRCC to verify the registration and license status of such companies and schemes before investing in them.

“You are also advised to report any individual or entities suspected to be involved in such nefarious activities to the law enforcement agencies,” it added, pointing out that the financial regulatory agencies would continue to carry out all necessary due diligence before registering or licencing any operator under their regulatory purview.

Similarly, the Director, Corporate Communications Department, CBN, Osita Nwanisobi, advised Nigerians to play a role in stopping some of the Ponzi scheme institutions.

“You must be conscious of any institutions that ask you to bring your money with an extremely very high interest rate. CBN licenced institutions are recognised and regulated. So, it is your responsibility to ensure that wherever you are putting your money, or whoever you are doing any financial business with is recognized by the CBN,” Nwanisobi said.

Also, the Director-General of SEC, Lamido Yuguda, said the devastating impact of the Covid-19 pandemic on the economy, the low-interest-rate environment coupled with the increasing use of online services spurred the

CBN Governor, Godwin Emefiele resurgence of illegal investment outfits.

He urged Nigerians to stay away from fake financial experts who would promise to double their money within a short time.

The Nigeria Deposit Insurance Corporation (NDIC) has also advised Nigerians not to patronise services of Ponzi schemes and illegal fund managers also called “wonder banks.”

To Ayodeji Ebo, an analyst at Chapel Hill Denham, Ponzi scheme operators take advantage of low interest rates period by providing attractive interest rates to investors and working on the desperation of the investors to beat inflation rate or multiply their savings.

This, he said, has negative impact on the economy as funds that should support productive activities are taken away fraudulently. In addition, investor education is key. Investors should seek professional advice when in doubt.

On his part, Relationship Manager, Corporate Banking at FSDH Merchant Bank, stressed that Ponzi schemes and activities of illegal finance houses are not good for the economy and the financial markets.

He added: “Real wealth takes time to build. And it can only happen through long term consistent investments in products that contribute to economic growth and through licensed operators.”

Chief Research Officer, Investdata Limited, Mr. Ambrose Omordion stated, “In the first place, people who fall victim to these schemes are people who are either greedy or do not have knowledge of other certified investments. They also do not know much about the capital market and how they can get returns on investment from it.

“The SEC has been preaching against it for years now and so the onus is on Nigerians to be very careful about investing in these fraudulent

outfits or wonder banks. The federal government should keep working and finding out the culprits behind these schemes and they also have to make the capital market more liquid by creating the awareness on the benefits of investing in the capital market.”

Also, the Chief Executive Officer, Centre for Promotion of Private Enterprises (CPPE) and Economist, Dr. Muda Yusuf said the development calls for tight regulatory action.

“There should be much greater consequences for those committing infractions in the name of investment. There is also the aspect of citizens themselves. They get carried away by the so-called returns on investment. They refuse to learn from the experiences of the past.

“Investors should be less greedy, be more cautious in investing and be more realistic in their expectation of the return on investment so as not to fall prey to these schemes. Before investing, it’s good cross check first from due diligence about those companies asking people to invest.

“Many of them are not registered, they are not under the regulatory radar of the regulatory institutions. So, citizens have a part to play in safeguarding their own interest. Within the economy more and more people are losing their money. It’s like fraud. It’s a crime. When you offer people returns that are not sustainable, it’s an act of criminality and any act of criminality has an impact on the economy. So there has to be consequences.

“If the rules are not tight enough, let us tighten the rule so that anybody caught will face the law. Once people know that there are consequences for flouting the rule, they will sit up. The problem in the country is that people

commit crime and get away with it. If we have a more effective consequences management system, it will ensure there are consequences for infractions, so that we don’t create room for people to rip people of their money and go free.”

In order to address the proliferation of illegal investment outfits and ensure that the apex regulator is well equipped to stem the tide, the National Assembly is proposing a bill that will empower SEC to impose stiffer punishment on promoters of Ponzi schemes and other unregistered investment schemes.

This was part of an amendment to the Investment and Securities Act 2007, being proposed by the House of Representatives.

The bill was proposed by Babangida Ibrahim representing MalumFashi/Kafur Federal Constituency, Katsina State.

According to Ibrahim, the proposed legislation was necessitated by lots of complaints by Nigerians on the activities of illegal investment schemes that promise unreasonably high returns but rather fleece Nigerians of their hard-earned money.

Under the document – ‘A bill to repeal the Investment and Securities Act 2007 and to enact the Investments and Securities Act, 2021’ – SEC will be empowered to address the challenges of Ponzi schemes.

However, in order to avoid becoming a victim of investment fraud, members of the public are advised to use only licenced, registered and trusted financial companies; shun investment windows that promise returns t that is unnaturally high or steady, the warning alarm should start sounding.

Individuals nearing retirement should be especially wary of their investment status. Chances are, you are counting on the money you’ve invested to guide you during your retirement years. Make sure all investment decisions are made with sound judgment.

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T H I S D AY ˾ MONDAY, MAY 30, 2022

BUSINESS SPECIAL

ANALYSIS

NSIA: Transitioning from Fund to Asset Management Company “Looking ahead to 2022 and beyond, we believe inflationary pressures will persist for much of this year, affecting the performance of all asset classes. We remain committed to strengthening the Authority’s performance by strengthening our risk management teams.”

Orji

Ifeanyi Onuba

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rom every indication, the global economy is currently struggling with the recessionary forces and weak economic outlook.

The Managing Director of the International Monetary Fund, Kristalina Georgieva gave credence to this when she said the global economy faces its “biggest test since the Second World War.” The invasion of Ukraine by Russia has compounded the residual economic effects of Covid-19 crisis, dragging down growth and driving inflation to multi-decade highs.

While spiraling food and energy prices are squeezing households around the world, central banks are tightening monetary policy to rein in inflation, exerting further pressure on indebted nations, companies and families.

But in the midst of these economic headwinds, the Nigerian Sovereign Investment Authority has continued to show resilience, a feat attested to by the Authority’s 2021 financial performance.

The NSIA is an investment institution of the federation set up in 2012 to manage funds in excess of budgeted hydrocarbon revenues.

Its mission is to play a leading role in driving sustained economic development for the benefit of all Nigerians through building a savings base for the Nigerian people, enhancing the development of Nigeria’s infrastructure, and providing stabilization support in times of economic stress.

The NSIA operates three mandate funds.

They are the Stabilization Fund, the Future Generations Fund, and the Nigeria Infrastructure Fund.

Amidst the challenging operating environment which has tested the resilience of institutions and businesses globally, the NSIA has continued to weather the storm as it posted its nine consecutive year profit of N153.56bn in the 2021 financial period.

In spite of a tough and volatile market, the NSIA’s investment strategy has proved to be resilient, and this has enabled the Authority to deliver favourable outcome as shown by the 2021 financial statement.

For instance, the Authority which was set up in 2012 to manage Nigeria’s Sovereign Wealth Fund achieved core income of N100.8bn in 2021 compared to N109.6bn in 2020. This excludes

foreign exchange gains of N45.8bn in 2021 and N51.2bn in 2020.

The NSIA also achieved a 19.02 per cent growth in Net Assets to N919.73bn in 2021 from the N772.75bn recorded in the preceding period of 2020. Total assets rose by 25 per cent to close at N1.228 trillion up from a position of N981.78billion in 2020.

The funds performed excellently on an individual basis with the Future Generation Fund (FGF) growing by 11.98 per cent to N976.868bn in 2021 while the Stabilization Fund (SF) and Nigeria Infrastructure Fund (NIF) grew by 1.60 per cent and 4.64 per cent to hit N278.827 billion and N962.778 billion respectively.

The NSIA surpassed major milestones across domestic infrastructure projects specifically in motorways, agriculture, healthcare, technology, gas industrialization among others.

Speaking on the financial performance, the Managing Director of NSIA, Uche Orji said despite the challenging year, the Fund was able to finish strong with a solid financial outcome for its contributors.

In terms of the details, he stated that Presidential Fertiliser Initiative ran successfully in 2021 and further eliminated the need for government subsidy. He noted further that as backward integration strategy, the Authority made significant progress on the joint development of the US$1.4 billion Ammonia and Di-Ammonium Phosphate production plants set for construction in Ikot-Abasi in partnership with OCP under the Authority’s gas industrialization programme. At completion this will strengthen food security and enable full domestic production of fertilizer which is a major input in Nigeria’s food production value chain.

Orji spoke on the 2022 investment year, saying the rising global inflation will require delicate management Central Banks and alluded to the ongoing Ukraine-Russia conflict as further catalyst to sustained surge in global commodity prices.

According to Orji, “2021 marked the end of another solid fiscal year at NSIA. In the period, the Authority delivered a strong performance. While the results are in line with the Authority’s expectations,

strong performance of our developed market investments were offset by challenges in our emerging market asset allocation, particularly in China equities, which saw significant underperformance by technology company stocks.

“Looking ahead to 2022 and beyond, we believe inflationary pressures will persist for much of this year, affecting the performance of all asset classes. We remain committed to strengthening the Authority’s performance by strengthening our risk management teams.

“In addition to expanding our direct investment footprint in innovation and technology in Nigeria, we have also designated ESG as an investment focus area. We will remain unrelenting in our quest to deliver the Authority’s clear 3-fold mandate. I am confident that the actions we are taking will create value for all our stakeholders in the medium to long term.”

Orji said the NSIA is transforming itself from being a Fund Manager to an Asset Manager. To achieve this, he said the Authority is being positioned to take over, manage and create value in critical assets for the both the federal and state government.

For instance, he said that the NSIA has opened discussions with the federal government to manage some of its assets in the power sector, real estate, and industrial sector among others. Some of these assets, according to him, have been under-utilized for many years without adding any economic value to Nigeria.

According to him, asset transfers will be an important component of the NSIA growth strategy in the medium to long term as the Authority sees significant opportunities in the federal government’s portfolio of power and real estate assets.

He said, “The NSIA is transitioning itself now from a fund management company to an asset management company. We are hoping to engage with the government to look at certain assets that we can manage on their behalf, and we believe that we have shown a lot of competence in asset management because that is some of the things we have done with some of the presidential programmes that we have run.”

The NSIA Boss also stated that abandoned power plants would be looked into so that more profit can be maximized for the government.

He said the NSIA is being positioned as an Asset Management Company in line with one of Singaporean Sovereign Wealth Fund Temasek Holdings, which manages about $405bn worth of assets.

Nigeria has unproductive assets scattered across various parts of the country, which the government can leverage to grow its revenue stream and fulfil its financial obligations.

He added, “So, there are quite a number of things that looks like opportunity for the NSIA to do to expand its footprints and grow its assets as opposed to its cash. Power for example, watch the space and there is one or two power plants that is almost near completion but abandoned. So, we hope to take over those power plants, finish it, run it, create value and that value comes back to the NSIA. “Real estate is another area where we are going to be very active. The federal government owns a lot of real estates in many parts of the world and many of them under-utilized, under managed and even locally not well managed.

So, we are approaching them to run it. These are assets that should be managed. And then industrial assets that are just allowed to rot away, many of them are still in decent position.

“So, there are things that can be done with regards to asset management and I think this for us remain something to pursue.

“Singapore has two Sovereign Wealth Fund.

One is GIC and the other one is Temasec which manages their assets and that is the model many of us want to copy. So, instead of asking for cash, we ask you to give us your assets, attract capital and fix those assets.”

He also said that the NSIA as an Asset Manager will be open to managing the assets of state governments since they have almost the same ownership of the Authority as the federal government.

Orji added, “We are open to providing the same type of access to state governments because they are equal owners of the Fund. So, any state that has an asset, we are open to it. We have already been engaging some of the states in this area actively. We know we don’t have a huge amount of money ourselves and we will work with the states, attract capital and make them viable.”

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MONDAY, MAY 30, 2022 ˾ T H I S D AY

BUSINESS SPECIAL

ANALYSIS

Zenith Bank: Sustaining Industry Leadership Zenith Bank under the leadership of its Group Managing Director, Ebenezer Onyeagwu has maintained its leadership position as evidenced by its financial results as well as the awards it has been winning both locally and international, writes Hamid Ayodeji

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enith Bank Plc recently emerged as the Best Bank in Nigeria in the Global Finance Magazine’s Best Banks Awards 2022, retaining the award for a third consecutive year.

The bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its 29th Annual Best Bank Awards Winners.

Ebenezer Onyeagwu since his appointment as the chief executive officer of the bank has maintained his commitment towards ensuring that the bank retained its leadership in the industry.

Under the leadership of Onyeagwu, Zenith Bank has continued to receive recognitions, both home and abroad.

To the editors of Global Finance, the decision to reward Zenith Bank was made after extensive consultations with corporate financial executives, bankers and banking consultants and analysts worldwide. Global Finance said it considered factors that ranged from the quantitative objective to the informed subjective in selecting the top banks. The objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

Commenting on the award, the Group Managing Director, Zenith Bank, Onyeagwu said: “This award is a testament to our tenacity despite a very challenging macroeconomic environment. Indeed, being recognised, for the third consecutive year, is an acknowledgement of the resilience of the Zenith brand as the leading financial institution in Nigeria.”

He lauded the contributions and efforts of the bank’s key stakeholders – the Founder and Chairman, Jim Ovia, CON, for his pioneering role in building the structures and laying the foundation for an enduring and successful institution, the Board for the outstanding leadership they provide, the staff for their commitment and dedication as well as the Bank’s customers for their unwavering loyalty and support.

The special recognition came within the period the bank announced its unaudited results for the first quarter (Q1) ended 31st March 2022, with an impeccable growth of 22 per cent in gross earnings, from N157.3 billion reported in Q1 2021 to N191.5 billion in Q1 2022.

From the unaudited statement of account presented to the Nigerian Exchange Limited (NGX) recently, the strong double-digit growth in the results, which was a reflection of the hard work by the Onyeagwu-led management and staff, culminated in an increase in the bottom line. The Group recorded an 11 per cent year-on-year (YoY) increase in profit before tax, growing from N61.02 billion in Q1 2021 to N67.99 billion in Q1 2022. Its profit after tax also grew by 10 per cent, from N53.06 billion to N58.19 billion over the same period. The growth in the topline arose from both interest income and non-interest income.

Interest income grew by 25 per cent, from N101.12 billion in Q1 2021 to N126.38 billion in Q1 2022, while non-interest income grew by 12 per cent, from N51.20 billion to N57.23 billion.

The growth in interest income and non-interest income arose from the combined effects of an improvement in interest income on loans and advances (as risk assets continue to grow and

Ebenezer Onyeagwu

“Going into the remainder of 2022, the Group would continue to focus on sustainable growth across all its business segments and deploy technology platforms and digital assets intuitively to serve its various customers’ needs to deliver enhanced returns to its stakeholders.”

pricing is gradually improving) and an improvement in non-interest income as the bank continued to deploy its retail strategy, thereby acquiring more customers and expanding its electronic banking income from the increased volume of transactions across all its channels.

Zenith Bank’s total assets grew by nine per cent, from N9.45 trillion to N10.32 trillion in 2022, mainly driven by growth in customers’ deposits. Customer deposits grew by 12 per cent, from N6.47 trillion in December 2021, to N7.25 trillion in March 2022. Savings account balance, which is solely retail grew by over N68 billion and was a validation of the robust customer acquisition strategy and versatile electronic platforms and digital channels. In addition, its loans and advances grew by six per cent, from N3.5 trillion in December 2021, to N3.7 trillion in March 2022, boosting the Group’s interest income and displaying the Group’s appetite for high-yielding risk assets creation.

This development also helped to boost the net interest margin (NIM), as it improved from six per cent in March 2021, to 7.3 per cent in the current period, while the capital adequacy ratio improved slightly from 21.1 per cent to 22.1 per cent.

“Going into the remainder of 2022, the Group would continue to focus on sustainable growth across all its business segments and deploy technology platforms and digital assets intuitively to serve its various customers’ needs to deliver enhanced returns to its stakeholders,” the bank stated.

Indeed, in terms of leadership, Onyeagwu, has continued to demonstrate that he has a midas touch considering the strong financial performance the bank continues to churn out. The bank places a premium on its core business strategy anchored on people, technology and service, to create value for its numerous clientele. With a team of dedicated professionals, the bank leverages its robust Information and Communication

Technology (ICT) infrastructure to provide cutting-edge solutions and products through its network of branches and electronic/digital channels.

Zenith Bank under Onyeagwu’s watch has remained committed to sustaining the legacy of its visionary Founder and Chairman, Mr. Jim Ovia, whose pioneering and foundational role in building the structures and laying the foundation ensured an enduring and very successful institution.

In order to meet customers’ rising expectations and expand its reach in the retail segment, Zenith Bank Plc recently introduced another season of its savings promo. The bank which remains a clear leader in the digital space with several firsts in deploying innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions, has been making significant progress in its retail banking drive. This is evidenced by remarkable growth in transaction volumes and value across its digital platforms and strong growth in customer acquisition.

That was why it re-introduced its Zenith Bank Beta Life Promo Season 2. The reward scheme is a bi-weekly raffle promo wherein the bank would give gifts worth N150,000 each to 20 customers from February 1, 2022 to January 31, 2023. The raffle draws hold on the second and fourth Friday of each month.

To qualify, customers are expected to simply open a Zenith Bank account; fund the account with a minimum of N5,000 for the period; request and collect a Zenith Bank Debit Card (virtual or physical).

The promo is open to new and existing Zenith Bank customers that maintain a minimum deposit of N5,000 for the period; request and collect a Zenith Bank Debit Card (virtual or physical) and download and register on the Zenith Bank Mobile App or register for *966# EazyBanking.

“If you do not have a current or savings account with us, or have a dormant or

zero balance account, this is the best time to open an account, fund or reactivate your account to win exciting rewards every week.

Rewards will be allocated to the winning accounts chosen via raffle draw by our computer program designed specifically for the purpose of the Promotion.

“The random selection and allocation of Prizes to the respective Winning Customers will be verified by external auditors. Customers must maintain an active account with N5000, get a card and register for USSD or download the mobile app to become a winner. You can open an account by just dialing *966# on your phone and following the prompts, or you can open an account on our website,” the bank stated.

“This is possible. However, you are encouraged to make additional deposits in subsequent weeks,” it added.

This followed its recent introduction of an Artificial Intelligence (AI) powered Chatbot on WhatsApp named ZIVA (Zenith Intelligent Virtual Assistant), which enables customers to perform financial transactions and enjoy real-time customer service from their mobile phones.

With this solution, customers would be able to enroll by simply adding the bank’s verified WhatsApp mobile number 07040004422 on their mobile devices, agree to the legal terms of use and then initiate a conversation.

This product provides the convenience for the bank’s customers to interact and transact on a 24 hours basis on the encrypted WhatsApp platform, it added.

The bank further explained that with the capability to respond to chats/queries anchored on the existing WhatsApp platform, customers would be able to open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and top up airtime. They would also be able to confirm cheques, pay bills, apply for loans, block their accounts, and request mini statements, amongst other banking services.

It is expected that the bank would maintain the momentum with Onyeagwu at the helms of affairs.

T H I S D AY ˾ MONDAY MAY 30, 2022

42

CITYSTRINGS

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

Clarion Call for Peace, Justice in Nigeria To register their grievance and pain over the recent murder of Deborah Samuel Yakubu in Sokoto State for alleged blasphemy, some Civil Society Organisations like Catalyst of Peace and Justice in collaboration with Charlie Boy Foundation, Women Advocates Research and Documentation Centre, Muslim Peace Initiative, Committee for the Defence of Human Right, and Enough is Enough Nigeria recently held a protest in Lagos. Rebecca Ejifoma reports that in their clamour for justice, they also sued for peace nati

W

hen on Thursday, May 12, 2022, Nigerians woke up to the gory viral video of the vicious murder of the 200-level student of Home Economics from the Shehu Shagari College of Education, Deborah Yakubu, it left most people in shock.

The young student and only daughter of the family of nine was accused of blaspheming Prophet Muhammad and thereafter lynched by irate religious fanatics right within the walls of the college.

Victims Lynched for Alleged Blasphemy Regrettably, Deborah is not the first victim of such a dastardly and primitive act. On June 2, 2016, 74-year-old Bridget Agbahime was ambushed by an irate mob for allegedly blaspheming the same prophet. She was the wife of Mike Agbahime, a pastor of Deeper Life Bible Church in Kano.

Bridget was said to have asked a young man practising ablution in front her shop to move away.

The man was said to have raised a false alarm that Bridget had cursed their prophet. And she was immediately stoned, dehumanised, and set ablaze in broad daylight. The only five suspects arrested in connection with this act have since been set free by the government.

In the same year, nine people were burnt alive in Zamfara State in the North-west for allegedly cussing Prophet Muhammad. And till date, no punishment in the slightest was meted out on them.

Yet again, on March 21, 2007, Christiana Oluwasesin from Ekiti State was lynched by Yan Kalare boys and other extremists for allegedly touching the Quran at a secondary school in Gandu, Gombe State.

Oluwasesin, a mother of two, was assigned to supervise an Islamic religious knowledge exam.

When one of the students wanted to enter the exam hall with his books, Oluwasesin collected them and threw them outside. The students claimed that one of the books was a copy of the Quran. This elicited emotions and immediately the popular Yan Kalare stabbed her to death.

Demand for Justice It was, therefore, to register their lingering grievances and call for an end to incessant killing that a group of concerned citizens took to the field in Lagos to demand for justice and an end to extrajudicial killing.

They included the Catalyst of Peace and Justice (CPJ) in collaboration with Charlie Boy Foundation, Women Advocates Research and Documentation Centre (WARDC), Committee for the Defence of Human Right (CDHR), Enough is Enough Nigeria, and Muslim Peace Initiative.

Part of their demands include the immediate and unbiased prosecution of the perpetrators in the killing of Yakubu and David Imoh, as well as a decent society for everybody. Unanimously, the protesters called for a fairer, just, and better society irrespective of religion Speaking, Convener, Catalyst for Peace and Justice (CPJ), Abraham Sam Aiyedogbon, noted, "We are coming out as a social justice initiative in collaboration with other human rights and civil society associations".

As the Senior Pastor and General Overseer, Realm of Glory, Aiyedogbon added "let's do it the way they say it. We just want a system that works. Does anywhere in the constitution say we should be raping women, kidnapping women.

Leah Shuaibu is still in captivity. That's one out of many".

Bemoaning that the nation is currently in disarray with the continuous killings in the South-east, Aiyedogbon quizzed, "Is that what the constitution prescribed? Is that what the people in government promised us?"

The convener insisted that Nigerians are in desperate need of a system where basic life is possible and valued. "We need extraordinary faith,

Cross section of protesters at the Protest against Violence and Wanton Killings held at Okota, Lagos State extraordinary prayer to live ordinary life.

No light, no road, no school. ASUU is on strike, they are not paying them. And people are using N100m to get form for APC, we aren't talking about campaign money."

Speaking at the demonstration tagged "Deborah Yakubu: Protest against Violence and Wanton Killings", Charles Oputa also known as Charlie Boy, reminded the nation of Matthew 22 verse 39 which says "One thing I take away from the Bible is 'Love your neighbour as you love yourself'."

While narrating the many tales of woes, he bewailed that things have been going wrong for long while everyone looks on.

"Whether we shout from now till tomorrow, these leaders will not change. Sadly, God punished us in Africa with horrible leadership".

During the protest, Charlie Boy charged the protesters with songs of solidarity, lamentations and dirge like "When I remember Deborah water run away me eye o", "Today, today. Our mumu don do today", "All we are saying, give us justice" among several others.

Amplifying his voice exuberantly before a large crowd in Okota area of the state, he queried Nigerians on what they are doing to get the kind of change they are canvassing.

The entertainer, therefore, urged everyone to get his or her Permanent Voters' Cards (PVC) and get those failed leaders out.

"How could we sit, they killed someone in Sokoto and nothing was done. In Lekki, a young man was killed in the same manner and everyone passed by. Nothing is given to you. You will go and take it. Get your PVC and vote them out. This is the time for awakening. Wake up!"

Chorusing his views, the Chairman of

Muslim Peace Initiative, Abuja, Mr. Mojeed Dahiru, argued that "There should be no room for religious laws that are in contravention with the constitution of Nigeria because we are a country of laws."

He also reminded the government of its duty to enforce law and order impartially without favour on the basis of religion and ethnicity. "This should be the core responsibility of the government".

According to Dahiru, "there is no law that prescribes death for blasphemy in the constitution. If there is any other law anywhere that prescribes such, it has no space in the Nigerian state.

"This particular murder was done not just extra-judiciously, but in the most horrendous of ways. Deborah Yakubu was murdered and I expect justice for her by bringing the perpetrators to book and justice should be carried according to the laws of Nigeria."

"Anything short of this is not justice", he cautioned, adding that " government at all levels must ensure that justice is done in order to rest the memory of Deborah Samuel and they must prevent all forms of killings in Nigeria, especially those that are contributed by hate and intolerance".

Describing it as a mockery to democracy, Comrade Dele Farotimi sobbed. "There are times when one is lost for speech. I was left with nothing to say for a couple of days with the immediate aftermath of Deborah's murder. If Deborah's killing were to be an outlier, we would probably have been left outraged. Then one would have had something to say out of anger and emotions.

"But as it pleased the Almighty God, it was not an emotional reaction. The responses to Deborah's murder is one that is more

"A whole generation of Nigeria has been indoctrinated that it is right to kill for God...The government can no longer sit back and allow religious leaders to incite hate or incite people to kill in the name of God. No religion asked any human being to kill"

driven by the intellect than by emotions. She was from Kebbi State, Zuru," he recounted. This is as he blamed not only the perpetrators for executing the crime, but also "Those in leadership who are supporting the murder as killed her.

"The Nigerian police bluntly refers to people as hooligans once they have killed such a person.

The Nigerian army refers to them as terrorists once it has killed them. It appears the only way you legitimise murder in northern Nigeria is to label the person as blasphemous. " What is the purpose of the state when the state itself becomes an enabler of crime? The blame for this lies with those who presume to rule Nigeria. And in this case it is Muhammadu Buhari. Nigeria is at war. And the reality is that lives and properties are no longer safe in the Nigerian safe".

"Deborah's case calls for very deep reflection", Malachy Ugwumadu, the immediate past National President, Committee for the Defence of Human Rights (CDHR) said, adding that "we have come to mourn and agonise the death of Deborah Samuel.

This demonstration, which is our fundamental inalienable right, will make the government know we are here. And they need to up their game".

Measures against Killing in the Name of Blasphemy According to Dahiru, the country needs to begin the process of spiritual faith dialogue, adding that "government must begin to take more interest in the kind of preaching, hateful messages that are churned out in the name of religion.

The chairman of the Muslim initiaive bemoaned that a whole generation of Nigeria has been indoctrinated that it is right to kill for God. "The government can no longer sit back and allow religious leaders to incite hate or incite people to kill in the name of God. No religion asked any human being to kill".

And while Nigerians are wondering why the federal government is yet to launch a military induced-resolution in the North just like the "Operation Python Dance II" and "Operation Crocodile Smile II" in 2017 and 2020 the same way it launched into the South-east, the aggrieved group laid their request.

Unanimously, they charged the government.

"At this point, the government must take a definite stand on the proliferation of religious laws in this country", emphasising that Nigeria is a constitutional democracy and supreme law of the land, hence, no other law should be permitted.

MONDAY MAY 30, 2022 • T H I S D AY

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MONDAY MAY 30 2022 • T H I S D AY

MONDAY MAY 30, 2022 • T H I S D AY

45

T H I S D AY ˾ ˜ MAY30, 2022

46

BUSINESS/MONEYGUIDE

LFZC Completes N25bn Series II, 20-Year Corporate Infrastructure Fixed Rate Bond Kayode Tokede Lagos Free Zone Company (LFZC), has announced the successful issuance of a N25 billion 20-Year Series II Senior Guaranteed Fixed Rate Corporate Infrastructure Bonds Due 2042 (LFZ Bonds) under a N50 billion Debt Issuance Programme.

The Chief Finance Officer (CFO) of LFZC, Mr. Ashish Khemka at a press briefing in Lagos said, “This is a milestone transaction for us at Lagos Free Zone Company and it is a testament to the capacity of the Nigerian debt market as a veritable source of domestic capital for infrastructural development in Nigeria.

“The response to this bond program further strengthens our commitment to realize our vision and thereby enhance Nigeria’s competitive positioning with our continuous focus on Ease of Doing Business parameters.

LFZ further underscores Nigeria as a compelling industrial hub within the West African coast and

ideally orients itself in anticipation of the imminent single market regime under AfCFTA. “We are particularly excited by the confidence demonstrated by pension fund managers and other institutional investors at this milestone issue and we appreciate the team at InfraCredit, StanbicIBTC Capital and other parties to the transaction for this novel structure, which helps to de-risk the transaction and aligns the interest of different stakeholders.”

The CEO of InfraCredit, Mr. Chinua Azubikesaid, “It has been exciting working with Lagos Free Zone Company on this landmark transaction. It further demonstrates our commitment towards inclusive access to long term local currency finance for infrastructure development.

Interestingly, LFZC has set a new benchmark in the Nigerian domestic debt capital market with the second issue of the N50billion series 2 bond, as the first 20-Year Corporate Infrastructure Bond in Nigeria, elongating the corporate

bond yield curve and reinforcing the prospect for Nigerian Corporates to raise long term finance within the local market.

The LFZC Bonds validates the appetite of domestic pension funds and other institutional investors in financing viable long-term infrastructure assets.

We would continue to partner with all relevant stakeholders in executing novel strategies towards unlocking domestic capital for infrastructure finance, in addition to creating quality asset classes for diversifying investment portfolios of local institutional investors.”

Also commenting on the transaction, Chief Executive of Stanbic IBTC Capital Limited, Funso Akere said: “Stanbic IBTC Capital, FBNQuest Merchant Bank and Radix Capital Partners are delighted to have advised LFZC on this landmark 20-year Infrastructure Bond issuance, which evidences the depth and liquidity of the Nigerian debt capital markets and aligns with the pension fund industry’s growing demand for quality long-dated assets.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS

FBN Holdings Announces 68.4% Increase in Profit to N151.08bn Kayode Tokede FBNHoldings has reported 68.4 per cent increase in profit to N151.08 billion in its audited result and accounts for full year ended December 31, 2021, representing an increase of 68.4 per cent from N89.73billion reported in 2020 financial year.

From the profit and loss figures, the group reported an increase of 99 per cent to N166.66billion in profit before tax from N83.7billion reported in 2020.

The growth in profits was driven by 905.15 per cent increase in other operating income to N149.42 billion in 2021 from N14.87 billion reported in 2020 and 28 per cent growth in gross earnings to N757.3billion in 2021 from N590.66 billion in 2020.

FBN Holdings announced N141.03billion recoveries in 2021 from N11.24billion in 2020.

According to the financial institution, the recovery in 2021 by the banking subsidiary was on the Atlantic Energy Ltd loan, which was previously written off.

The Group from its balance sheet position reported 16.2 per cent increase in total assets to N8.9trillion in 2021 from N7.69trillion reported in 2020.

The Board of Directors recommended a dividend of 35 kobo per ordinary share of 50 kobo each, amounting to N12.56billion in 2021 financial year from N16.15billion in 2020.

Commenting, the Group Managing Director, FBN Holdings, Mr. Nnamdi Okonkwo in a statement said, ““I am very proud to have assumed the role of Group Managing Director of this great organisation in January 2022 and I am excited about building on the momentum of recent positive developments.

Our performance over the course of 2021 is reflective of the resilience of the Group and underpins our growth strategy to generate sustainable value for all our stakeholders.

“As a Group, we are acutely aware of the macroeconomic challenges facing businesses and remain focussed on carefully

navigating the environment through innovation and by putting our customers at the centre of our attention.

“As a financial service holding company, driving synergies remains a critical part of our strategy and has been integrated into every aspect of our delivery model.

“We pride ourselves in the uniqueness of our diversified portfolio and the collaborative ecosystem that we have built around our lines of business, our customers, and the unique value proposition that we deliver. “ “We are also increasingly leveraging technology – artificial intelligence, robotics, and other next-generation technological advancements, to deepen collaboration and further drive operational efficiency across the Group.

“Highlighting revenue and profitability, the Group delivered a stellar performance growing gross revenue by 28.2per cent to N757.3 billion and profit before tax by 99.1per cent to N166.7 billion.

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

To encourage and simplify vehicle ownership for personal use by millions of Nigerians, First City Monument Bank (FCMB), has said it now offers auto loans of up to N30 million at a reduced interest rate.

In a statement, FCMB said the auto loan supports acquiring brand new and pre-owned vehicles (popularly known as “Tokunbo”), with N500,000 as the minimum loan amount that a customer can access for a repayment duration of up to 5 years.

This, FCMB said, affirms its commitment to improving the social well-being of individuals and enhancing access to credit for higher standard of living for families.

Divisional Head, Personal Banking of the Bank, Mr Shamsideen Fashola, in the statement said, “Vehicle ownership is one of the most exciting moments in a person’s life. Yet, many people struggle to save up for

a long time to make this dream come true. To bridge this gap, we created a value proposition that is flexible, convenient and empowers individuals, families and businesses to achieve the dream of vehicle ownership.

Nigerians can now finance their dream vehicle with an auto loan from FCMB at a low-interest rate with monthly or yearly payment options depending on their income. We, therefore, urge the populace, including, but not limited to salaried individuals, to take advantage of this opportunity to fulfil their vehicle ownership dream.”

He added, “FCMB Auto Loan empowers qualified Nigerians to part-finance the purchase of brand-new and pre-owned vehicles while spreading the repayment between one and five years. The loan, which is dependent on the type of vehicle to be purchased, is open to salaried individuals and self-employed Nigerians.

“According to the National Bureau of Statistics (NBS), the number of registered vehicles in Nigeria is 13 million. However, vehicle ownership in the country has been declining because of increased prices. This is due to foreign exchange and importation challenges, leading to a drastic reduction in purchasing power and sales decline in the auto industry.”

A purpose beyond profit commercial banking institution, First City Monument Bank is a member of FCMB Group Plc, led

by Ladi Balogun as Group Chief Executive. The Bank is committed to COVID-19 recovery, income equality and poverty reduction by easing credit constraints to disadvantaged individuals and small businesses. The intervention of FCMB in the automobile sector aligns with Goals 3 and 10 of the Sustainable Development Goals (SDGs), which focus on well-being and reduced inequalities.

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

FCMB Offers ConvenientVehicle Buying Opportunities for Individuals

(MILLION NAIRA)

JANUARY 2021

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY MAY 23, 2022

The price of OPEC basket of thirteen crudes stood at $114.79 a barrel on Friday, compared with $112.04 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).

47

T H I S D AY ˾ ˜ ͱͮ˜ ͰͮͰͰ

SEC: Efficient Capital Markets In W’African Demands Regular Assessments Kayode Tokede The Director-General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, has said efficient functioning of capital markets in the West African Region demands a regular assessment of policies and programs to fit current realities, and address the region’s peculiar challenges.

He stated this at the West

African Capital Markets Conference with the theme: “Deepening and Strengthening the Capital Markets Across West Africa through Effective Regulation,” held in Accra, Ghana.

The conference was organised by the West Africa Securities Regulators Association(WASRA).

The SEC DG who is also the WASRA Chairman, said the

P R I C E S MAIN BOARD

F O R DEALS

need for regular assessment necessitated the revision of the WASRA/WACMIC (West African Capital Markets Integration Council) Road Map to reflect current developments and include specific initiatives that will further improve the successful implementation of integration and other efforts.

He reiterated that against the backdrop of innovation and dynamism in the capital

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

QUANTITY TRADED

VALUE TRADED ( N )

markets, there is the need for regulators to keep pace with this trend.

Yuguda stated that the WACMiC periodically presents members with an opportunity to explore the role that financial markets should play in supporting the growth of the real sector of the respective economies and indeed the sub-region in general.

According to him, “We

T R A D E D MAIN BOARD

A S

are not unaware that in some member states, capital markets activities are still in their nascent stage. In collaboration with ECOWAS, efforts are being made to encourage these jurisdictions to join WASRA. We intend to engage and partner with them to build capital markets that will support the growth and development of their respective countries while advancing our

O F

regional market integration efforts.

“As the region continues to expand in market size and influence, it becomes increasingly more important to focus our attention on developing world class markets by looking at innovative ways to address critical issues such as systemic risk, market integrity, investor protection, Fintechs and disruptive technologies.

2 7 / 0 5 / 2 0 2 2 DEALS

MARKET PRICE

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MONDAY MAY 30 2022 • T H I S D AY

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MONDAY, MAY 30, 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 26May-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 8.34% AIICO Balanced Fund 3.74 3.80 5.64% 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 3.96% Anchoria Equity Fund 153.24 155.00 10.05% Anchoria Fixed Income Fund 1.20 1.20 4.87% 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 22.71 23.40 11.97% ARM Discovery Balanced Fund 516.97 532.55 14.59% ARM Ethical Fund 43.95 45.27 12.81% ARM Eurobond Fund ($) 1.06 1.06 -1.92% ARM Fixed Income Fund 1.04 1.04 2.51% ARM Money Market Fund 1.00 1.00 5.99% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.41 105.41 8.28% AVA GAM Fixed Income Dollar Naira 1,108.91 1,108.91 10.89% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.12 2.12 7.73% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.40 2.45 27.27% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund 1,008.51 1,008.51 3.75% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 3.28% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.01% Paramount Equity Fund 20.64 21.02 18.35% Women's Investment Fund 154.87 156.74 9.05% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.11% Cordros Milestone Fund 136.98 137.82 9.78% Cordros Dollar Fund ($) 109.52 109.52 5.10% 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 4.43% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 5.52% EDC Nigeria Fixed Income Fund 1,157.40 1,169.13 -0.67% 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 1.00 1.00 8.14% Emerging Africa Bond Fund 1.04 1.04 7.82% Emerging Africa Balanced Diversity Fund 1.07 1.07 17.35% Emerging Africa Eurobond Fund 102.40 102.40 4.34% 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 1455.06 1455.06 10.43% FBN Balanced Fund 196.66 198.06 12.21% FBN Halal Fund 119.85 119.85 9.21% FBN Money Market Fund 100.00 100.00 5.73% FBN Dollar Fund (Retail) 123.86 123.86 5.31% FBN Nigeria Smart Beta Equity Fund 170.21 172.46 11.72% 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 4.86% Legacy Debt Fund 3.96 3.96 -0.99% Legacy Equity Fund 2.00 2.04 15.08% Legacy USD Bond Fund 1.23 1.23 1.56% 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

4,259.12 3,555.02 100.00

4,324.21 3,555.02 100.00

23.73% 6.25% 6.11%

FSDH Dollar Fund 1.10 1.10 3.74% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 3.61% Vantage Balanced Fund 3.11 3.16 15.55% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 140.38 140.38 2.45% Vantage Equity Income Fund (VEIF) - June Year End 1.35 1.38 13.26% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 4.17% 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 1.55 1.58 9.59% Lotus Halal Fixed Income Fund 1,160.72 1,160.72 3.57% 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) 101.78 101.78 6.72% Norrenberger Money Market Fund (NMMF) 100.00 100.00 7.51% 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 1.72 1.75 9.17% PACAM Fixed Income Fund 11.75 11.78 5.15% PACAM Money Market Fund 10.00 10.00 6.60% PACAM Equity Fund 1.54 1.56 8.26% PACAM EuroBond Fund 116.10 118.97 1.96% 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 133.78 137.26 11.96% 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 1.04 1.04 8.54% 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 3,775.84 3,819.54 9.70% Stanbic IBTC Bond Fund 238.81 238.81 1.31% Stanbic IBTC Ethical Fund 1.52 1.55 18.08% Stanbic IBTC Guaranteed Investment Fund 320.10 320.10 2.16% Stanbic IBTC Iman Fund 280.31 284.23 15.73% Stanbic IBTC Money Market Fund 1.00 1.00 3.67% Stanbic IBTC Nigerian Equity Fund 12,752.72 12,931.69 14.79% Stanbic IBTC Dollar Fund (USD) 1.32 1.32 1.91% Stanbic IBTC Shariah Fixed Income Fund 118.44 118.44 1.26% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 109.39 109.39 2.74% 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 1.10 1.13 18.67% United Capital Balanced Fund 1.54 1.57 13.15% United Capital Wealth for Women Fund 1.24 1.26 14.35% United Capital Sukuk Fund 1.10 1.10 2.94% United Capital Fixed Income Fund 2.01 2.01 2.64% United Capital Eurobond Fund 124.99 124.99 2.17% United Capital Money Market Fund 1.00 1.00 5.60% 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 14.24 14.38 8.03% Zenith ESG Impact Fund 16.47 16.66 12.73% Zenith Income Fund 22.62 22.62 2.70% Zenith Money Market Fund 1.00 1.00 5.64% 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 4.20 4.30 4.76% Vetiva Consumer Goods Exchange Traded Fund 6.76 6.86 15.51% Vetiva Griffin 30 Exchange Traded Fund 20.16 20.36 13.91% Vetiva Money Market Fund 1.00 1.00 0.00% Vetiva Industrial Goods Exchange Traded Fund 22.68 22.88 13.45% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 153.02 155.02 -2.99%

REITS NAV Per Share

Yield / T-Rtn

116.31 51.67

2.79% 1.61%

Bid Price

Offer Price

Yield / T-Rtn

15.78 151.19 119.17 17.20 16.50

15.88 154.90 121.76 17.20 16.50

12.78% 14.85% 14.99% 27.00% 12.42%

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.

50

T H I S D AY ˾ MONDAY MAY 30, 2022

FEATURES

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

Charting Way Forward for the Burgeoning Menace of Crude Oil Theft, Bunkering and PipelineVandalism in Nigeria (111) With over 14 billion naira worth of stolen products recovered from pipeline vandals, crude oil thieves and bunkerers in six weeks in the ongoing Operation DAKATAR DA BARAWO, Chiemelie Ezeobi reports that beyond these successes, there is need for the establishment of Maritime Courts to ensure speedy dispensation of justice and rid the Nigerian Navy of the burden of housing these seized vessels, products and even crew. While it is also imperative for a comprehensive database for such maritime criminals given the intensity and trans-national nature the theft has assumed, it has become pertinent to ponder if legalising and monitoring these illegal modular refineries will help curb the excessive waste of the nation's rich oil resources

Naval operatives with some of the recovered pumps

One of the illegal oil wells

A

seized over 6,000,000 litres of products valued over N3 Billion and 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.

Given the gains and successes of the operation in April, the navy extended the duration of the operation beyond the first 30 days to May. In weeks five and six, the Director of Naval Information (DINFO), Commodore Ayo Vaughn, said 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.

s already established, pipeline vandalism, bunkering and crude oil theft are thriving illegal activities that have put a huge dent on the nation's economy.

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 products have also damaged the environment.

However, with the recent set up of Operation DAKATAR DA BARAWO, which means "Stop the Thief", the navy has dealt a huge blow on these saboteurs.

Set up to support the existing structure on ground, Operation DAKATAR DA BARAWO has focused 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.

As reiterated by the Chief of Naval Staff (CNS), Vice Admiral Awwal Gambo, 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.

But their arrests and seizure of operational equipment has thrown up so many posers like; What next? Is damaging the products the way out? What about the seized products?

Are they not constituting risks on navy jetties and even the environment? Why can't the FG approve these modular refineries but ask them to get permits and environmental approvals?

In the first part of this series published on Monday, May 16, 2022, which highlighted the dangers posed by pipeline vandalism, bunkering and crude oil theft, 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.

Also in the second part of the series published on May 23, 2022, THISDAY had also highlighted the successes recorded by the

Vice Admiral Awwal Gambo Nigerian Navy through Operation DAKATAR DA BARAWO, which means "Stop the Thief".

In this third and final part of the series, THISDAY posits the way forward while advocating the need for Special Courts to ensure speedy prosecution of such maritime criminals. Also, THISDAY ponders if legalising and monitoring of such crude refineries will curb the menace as against destruction of the recovered products.

Arrests in May While 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

Blow for Economic Saboteurs Within the space of four weeks and some days, the operatives caused severe havoc on these oil thieves and criminal economic saboteurs.

Summarily, with respect to previous seizures and recoveries during OPDDB for the month of April alone, the Nigerian Navy denied oil thieves and economic saboteurs an estimated ten billion, seven hundred and one million, seven hundred and ninety-three thousand, fifty-two Naira, five kobo (N10,701,793,052.5kobo) worth of crude oil and related products for the period under review.

The breakdown, which was made available to THISDAY reads as follows: while AGO recovered was 6,558,000 litres at 720 per litre which amounts to N4,721,760,000; Crude Oil was 16, 423, 414 litres (103,291.91 barrels) at $105/barrels, which amounts to $10,845,650.55 (N5,965,107,802.5k); DPK was 319,150 litres at N235 per litre which amounts to N7,500,250; and PMS was 45,000 litres at N165 per litre, which amounts to N7,425,000.

The total figure amounted to ten billion,

"For Vice Admiral Gambo, the successes recorded despite the flashes of resistance by the vandals, will in no way deter the NN from ensuring zero tolerance for COT, IRS, illegal bunkering and related economic crimes in the nation’s maritime environment and adjoining territory"

seven hundred and one million, seven hundred and ninety-three thousand, fifty-two Naira, five kobo (N10,701,793,052.5k).

Meanwhile, the sludge recovered amounted to 650,000 litres while the Illegal Refinery Sites (IRS) that were deactivated were 148 while wooden boats destroyed were 36.

Therefore, 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 were made. Also, more than 20 suspects were arrested and handed over for prosecution.

Breakdown made available to THISDAY by the DINFO read thus; Crude oil was 2, 475, 000 litres (15,567.03 bbls @ $105/bbl) which amounts to $1,634,538.15 (N 678,333,332.25); DPK of 625 litres @ N 565/ltr, amounting to N 353,125; AGO was 3, 575, 587 litres @ N 720/ltr, amounting to N 2,574,422,640; while PMS was 180,000 @N 165/ltr amounting to N 29,700,000.

Therefore the total value of products denied oil thieves in weeks five and six was N 3,282,809,097.25 (Three Billion Two Hundred and Eighty-Two Million Eight Hundred and Nine Thousand Ninety-Seven Naira Twenty-Five Kobo Only).

Wooden boats seized were 32 and one market boat and six speed boats were also recovered, while six trucks and a Ford model bus was also mopped up.

The operatives also shut down 16 IRS, 85 ovens, 114 storage tanks and 46 dug out pits.

For Vice Admiral Gambo, the successes recorded despite the flashes of resistance by the vandals, will in no way deter the NN from ensuring zero tolerance for COT, IRS, illegal bunkering and related economic crimes in the nation’s maritime environment and adjoining territory.

Reiterating NN's resolve to ensure zero tolerance for COT, illegal bunkering and related economic crimes in the nation's maritime area and the South-south geopolitical zone in particular, he noted that with all the arrests made, economic saboteurs and their sponsors are therefore warned to desist from these unpatriotic and criminal acts or face the wrath of the law.

Dangers Posed by Seized Vessels on Continued on page 51

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T H I S D AY ˾ MONDAY MAY 30, 2022

FEATURES

Recovered stolen products Naval Jetties But despite the level of successes recorded, housing these seized vessels pose a grave disadvantage for the navy.

Due to lack of space by prosecuting agencies, these seized vessels are most times left in the care of the navy. Aside the manpower it costs the navy (because personnel are often mounted on duty on each vessel), it poses danger to the shorelines and naval jetties.

Shipwrecks have been known to cause multiple accidents at sea. Several cases abound of passenger boats that capsized after ramming into the wrecks that dot the maritime domain, especially those that have sunk into the water and are undetected on the surface level.

The questions usually are; why are there wrecks at sea? Where do they come from?

Firstly, most of these wrecks are formerly vessels that were operational. While most of them were arrested for various maritime crimes, others were faulty and left to go aground because of paucity of funds or lack of needed spares.

However, most of the wrecks were caused by delay in prosecution of arrested vessels.

For instance in NNS DELTA, in the ongoing Operation Swamp Buggy, several persons have been arrested for various maritime offences and handed over to prosecutorial agencies, while the vessels were being kept in trust for the agencies in line with the Harmonised Standard Operation Procedure (HSOP).

But that is where the problem lies; holding the vessels in trust for the prosecuting agencies is costing the NN so much money to maintain the vessels to avoid their going aground.

THISDAY had once reported that some of the vessels have been in the jetty for up to nine years with 185 outboard engines, hoses and other equipments recovered from the suspects or sites.

In NNS PATHFINDER, it was no different.

The base also battled with prolonged stay of arrested vessels in its jetty, which poses threat to mariners along that channel.

In fact, in 2019, the Department of Petroleum Resources (DPR) had at that time been contacted to evacuate products from some of the vessels arrested since 2015 to no avail.

This means that these wrecks will continue to litter Nigeria’s coastal waterways and they can’t be removed at whim because of legal bottlenecks. But apart from endangering shipping, most of the wrecks constitute environmental pollution and hazards.

However, the Hydrography office of the navy, in line with its statutory responsibilities, has already identified most of these wrecks and with the recent entrance of NNS LANA, the navy's state-of-the art hydrographic vessel, the sea bed would soon be mapped totally so that seafarers can navigate safely.

Already, the department had surveyed the Lagos Port and Badagry creek channels of the Western waters where 35 wrecks including masts, ships and obstructions constituting life threatening threats to mariners were discovered and with NNS LANA, have even done more.

Need for Special Maritime Courts Given the number of arrests made, it is also pertinent that the law runs its course and speedily too. This is because most times, these cases stagger in court, sometimes dragging

Handing over of some of the recovered products to the NSCDC up to six years and even more, thus incurring huge financial loss for the navy.

This and more are some of the reasons why the navy has continuously advocated for Maritime or Admiralty Courts, to focus solely on maritime crimes.

Given that the regular court processes delay the disposal of seized vessels in the navy’s custody, coupled with the fact that their maintenance costs the navy huge amounts of funds to keep them in good shape, these special courts will come in handy.

In fact, when he disclosed the alarming loss of over $1.5 billion to oil theft between January and March 2022, NNPC GMD, Abba Kyari also reiterated the Nigerian Navy's continuous clamour for special courts to unmask those behind illegal crude oil refining and prosecute them, stressing that "we must have special courts to try those behind this business.

This is an elite business. It is not done by poor people".

For those in the know, once a vessel is arrested on any suspicion of crime or illegal activities, they are arrested by patrol units and preliminary investigation is carried out. As soon as a case is established, the vessel is handed over to the appropriate prosecution agency.

However, that is where the main challenge comes as most the prosecuting agencies do not have holding bay for vessels. Also, most times they refuse to take the crew and the responsibility of feeding them.

But with the Maritime Court, the vessel will be held on bond and whenever the crew or the vessel are required in court, they will be made available.

Giving Navy Prosecutory Powers for Maritime Crimes For many stakeholders, one of the ways to tackle maritime crime is to give the navy prosecutory powers. And to do this, the House Committee on Navy is already on course to review the Armed Forces Act. According to the reps committee on navy, this will empower the navy to tackle the challenge of maintaining vessels seized during operations on the waterways.

The House of Representatives

committee chairman on Navy, Rt. Hon. Yusuf Adamu Gagdi, recently said the review of the Armed Forces Act has passed through the first reading and second reading has been debated on with hopes for it to be subsequently passed after meeting the requirements.

In the review, a provision in the Act was created to empower the NN not to handover any vessel to any agency but to strengthen its legal department to prosecute any maritime crime that they arrest.

Is Legalising Modular Refineries the Way Out? But beyond the aforementioned measures, one thing has been germane in tackling crude oil theft: legalising but monitoring these illegal modular refineries.

While some believe legalising them will spur them to become worse, there are yet many others who think it will at least tame the widespread theft once proper monitoring is done.

Already, the federal government is mulling legalising these modular refineries as a way to curtail the huge waste of the nation's economic product.

Sometime in 2020, Sen. Ita Enang, the Senior Special Assistant to the President on Niger Delta Affairs, had said the federal government was amenable to such given that they had engaged some of these artisanal illegal oil refiners in the Niger Delta region and had seen the need to legalise their operations as they can produce chains of petroleum products and supply them for consumption in the country.

He was of the opinion that engaging them would go a long way to save cost for the country and boost revenue generation because although they may not produce much for large scale commercial quantity, they will help curb capital flight as the nation would not pay for import or export, as well as port charges. This effectively eliminates subsidy and brings down the cost of refined petroleum products.

Need for Comprehensive Database for Maritime Criminals As part of long term measures to completely ameliorate these tripod menace, the CNS recently advocated for a database for maritime criminals given the intensity and trans-national nature of maritime crimes within the region.

He posited that the fight against maritime crimes like piracy, crude oil theft and pipeline vandalism, amongst others, require a more diligent record and data capturing identity of perpetrators.

The CNS who spoke at the 10th SECUREX West Africa, an international security exhibition held at the Landmark Centre, Victoria Island, Lagos, aptly delivered a keynote

"While the laudable efforts by the operatives and in turn, the Nigerian Navy must be commended, it is also pertinent that they do not rest their oars, rather tackle the root of this economic sabotage- the sponsors and owners of these illegal oil refineries"

paper titled "Protecting Critical National Infrastructure: Tackling Maritime Crimes; Protecting Nigeria’s Ports."

In his lecture, he revealed that most of the criminals migrate to other countries within the sub-region to continue their activities once they have been arrested, convicted and done their times, thus the need for a comprehensive database.

He said: "Despite the Nigerian Navy's (NN) effort at ensuring that maritime crimes are reduced, new challenges continue to unfold due to the dynamic nature of criminals.

The intensity and trans-national nature of maritime crimes within the region requires a more diligent record and data capturing identity of perpetrators.

"Sadly, lack of adequate database on identified criminals has allowed perpetrators of maritime crimes to relocate from one country to the other without being identified.

Some persons who have been prosecuted for maritime crimes on completion of their jail terms have resumed their criminal activities in other countries unnoticed..."

"This gap within the West African subregion needs to be given more attention and addressed. Clearly, with improved database and information sharing on persons prosecuted for maritime crimes, it would be easier to track and apprehend such persons, should they continue to live a life of crime.

"It is envisaged that the threats may mutate in form and structure depending on where the naval forces are most effective. This brings to fore the need for a viable naval force in other countries within the GoG so as to establish credible presence within our collective maritime domain."

However, he said the navy has continued to refine its procedures in terms of strategy, operations concepts and doctrinal practices, adding that it also ensures ports facilities protection through the Secured Anchorage Area initiative in collaboration with the Nigeria Ports Authority (NPA).

Way Forward Industry watchers and stakeholders want pipelines to be more secure, urging security agencies to go beyond arresting to successfully prosecuting.

Also, there is a continuous need for speedy dispensation of justice and forfeiture of vessels used in the crime. In such cases, the navy has appealed to the judiciary and prosecuting agencies to fast-track the trials to save the cost of maintaining, securing the vessels and other exhibits the prosecution agencies do not have facilities to keep.

Stakeholders also suggest partnership among security agencies, not leaving the fight to the navy alone. Also, the agencies cannot successfully tackle the criminals without citizens, traditional rulers, community leaders' support.

While the laudable efforts by the operatives and in turn, the Nigerian Navy must be commended, it is also pertinent that they do not rest their oars, rather tackle the root of this economic sabotage- the sponsors and owners of these illegal oil refineries.

Also, with when this prosecutory powers are gotten, the navy must also go after the end-users and fuel stations, as well as vessels who are used as conduits to siphon the nation's common wealth. Only until these are done will the nation be finally rid of these crude oil thieves and economic saboteurs.

52

MONDAY MAY 30 2022 • T H I S D AY

MONDAY MAY 30, 2022 • T H I S D AY

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54

MONDAY, MAY 30, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Plane with 22 People on Board Missing in Nepal’s Mountains Rescuers zeroed in on a possible location of a passenger plane with 22 people aboard that is feared to have crashed Sunday in cloudy weather in Nepal’s mountains, officials said.

The Tara Air plane, which was on a 20-minute scheduled flight to the mountain town of Jomsom, took off from the resort town of Pokhara, 200 kilometres (125 miles) east of Kathmandu. The turboprop Twin Otter aircraft lost contact with the airport tower close to landing in an area of deep river gorges and mountaintops.

An army helicopter, as well as private choppers, were taking part in the search, the Civil Aviation Authority of Nepal said in a statement.

Army troops and rescue teams were headed to the possible site of the crash, believed to be around Lete, a village in Mustang district, Narayan Silwal, the army spokesman, said on Twitter.

“Poor visibility due to bad weather is hindering the efforts. The plane has not yet been located,” he said. Rescuers were trying to reach an area where locals allegedly saw a fire, although it is still unclear what was burning, Silwal added. He said officials could only verify the information once the troops reached the location.

In 2016, a Tara Air Twin Otter flying the same route crashed after takeoff, killing all 23 people aboard. In 2012, an Agni Air plane also flying from Pokhara to Jomsom crashed, killing 15 people. Six people survived. In 2014, a Nepal Airlines plane flying from Pokhara to Jumla crashed, killing all 18 onboard.

Ukraine Mounts Counter-Offensive in Russia-Held Kherson Ukraine mounted a new counteroffensive Sunday to reclaim land around the southern port city of Kherson. Russian forces shelled targets in eastern Ukraine in an attempt to capture Sievierodonetsk, the last Ukrainian-controlled city in the Luhansk region.

Kherson has served as a staging ground for Russian forces in southern Ukraine, the first major city to fall to Moscow’s forces as they swept north out of Crimea more than three months ago.

But Sunday, the Ukrainian military said on Twitter, “Hold on Kherson, we’re coming.”

Meanwhile, Sievierodonetsk was a main focus of Moscow’s offensive and is now under heavy assault. The governor of the Luhansk region, which along with Donetsk, makes up the Donbas region, said Friday that Russian troops had entered Sievierodonetsk.

“If Russia did succeed in taking over these areas, it would highly likely be seen by the Kremlin as a substantive political achievement and be portrayed to the Russian people as justifying the invasion,” the British Defense Ministry said Saturday.

Meanwhile, Ukrainian President Volodymyr Zelensky made a rare visit outside the capital, Kyiv, on Sunday to meet Ukrainian forces in the eastern city of Kharkiv, a trip meant to highlight the success of Kyiv in driving Russia away from Ukraine’s second-largest city.

Far-Right Israeli Lawmaker’s Visit Sparks Jerusalem Unrest A far-right Israeli lawmaker, joined by scores of ultranationalist supporters, entered Jerusalem’s most sensitive holy site early Sunday, prompting a crowd of Palestinians to begin throwing rocks and fireworks toward nearby Israeli police.

The unrest erupted ahead of a mass ultranationalist Israeli march planned later Sunday through the heart of the Muslim Quarter of Jerusalem’s Old City. Some 3,000 Israeli police were deployed throughout the city ahead of the march.

Israel says the march is meant to celebrate Israel’s capture of east Jerusalem, including the

the price for a government decision to cut irrigation for agricultural areas by 50 per cent.

The government took the step in the face of severe water shortages arising from high temperatures and drought — believed to be fueled by climate change — and ongoing water extraction by neighbouring countries from the Tigris and Euphrates rivers.

Old City, in the 1967 Mideast war. Israel claims all of Jerusalem as its capital. But Palestinians, who seek east Jerusalem as the capital of a future state, see the march as a provocation. Last year, the parade helped trigger an 11-day war between Israel and Gaza militants.

Sunday’s unrest occurred in a contested hilltop compound revered by Jews and Muslims. The compound is home to the Al Aqsa Mosque, the third-holiest site in Islam. It also the holiest site for Jews, who call it the Temple Mount and revere it as the home of the biblical Temples. The competing claims to the site lie at the heart of the Israeli-Palestinian conflict and have triggered numerous rounds of violence.

Itamar Ben-Gvir, leader of a small ultranationalist opposition party and a follower of the late rabbi and political extremist Meir Kahane, entered the compound early Sunday along with dozens of supporters.

Shanghai to Lift ‘Unreasonable’ Curbs on Firms Shanghai said on Sunday that “unreasonable” curbs on businesses would be removed from June 1 as it looks to lift its COVID-19 lockdown, while Beijing reopened parts of its public transport and some malls and other venues as infections stabilised.

The Chinese commercial hub of 25 million people aims to end from Wednesday a two-month lockdown that has severely damaged the economy and seen many residents lose income, struggle to source food, and cope with the isolation.

The painful coronavirus curbs in major Chinese cities run counter to trends seen in the rest of the world, which has largely tried to return to normal life even as infections spread.

Shanghai, China’s most populous city, will end many conditions for businesses to resume work from June 1. The city also launched measures to support its economy, including reducing some taxes on car purchases, accelerating the issuance of local government bonds, and speeding up approvals of real estate projects.

Shanghai will ask banks to renew loans to small and medium firms worth $15 billion this year.

“We will fully support and organise the resumption of work and production of enterprises in various industries and fields,” vice mayor Wu Qing told reporters, adding that “unreasonable” COVID restrictions on businesses would be lifted.

Wu did not give details of which restrictions would be cancelled.

Shanghai in April started publishing “white lists” of important manufacturers in the auto industry, life sciences, chemicals and semiconductors allowed to resume

operations.

But many of the priority companies had suppliers who were unable to reopen, and so they still faced logistical bottlenecks.

US Gulf Coast Preps for Another Dangerous Hurricane Season “Typically, I feel prepared,” Susan MorleyZender, a New Orleans, Louisiana, resident, told VOA when asked about the upcoming start of hurricane season, “but this year I’m much more anxious.”

Hurricane season is a six-month window – from June 1 through the end of November – in which the US states along the Gulf of Mexico and much of the Atlantic seaboard are at the greatest risk of being devastated by a tropical storm or hurricane.

Meteorologists poring over data and weather models agree 2022 could produce an especially treacherous season for Texas, Mississippi, Alabama, Florida and – historically one of America’s most storm-ravaged states – Louisiana.

“We’re predicting a 65 per cent chance that the 2022 hurricane season will be above normal,” Matthew Rosencrans, lead hurricane outlook forecaster for the US National Oceanic and Atmospheric Administration (NOAA), told VOA. If Rosencrans is correct, this will be the seventh consecutive year above normal.

While unable to predict the exact number of storms that will make landfall, NOAA released an outlook this week that projects 14 to 21 named storms, six to 10 hurricanes and three to six major hurricanes will form in ocean waters around the region this year.

It’s frightening news for south Louisiana residents who are especially exposed due to their proximity to the Gulf.

“And the news is even worse because we’ve had a few difficult years in a row,” Morley-Zender noted.

Severe Water Shortages Strain Wheat Harvest in Iraq Salah Chelab crushed a husk of wheat plucked from his sprawling farmland south of Baghdad and inspected its seeds in the palm of one hand. They were several grams lighter than he had hoped.

“It’s because of the water shortages,” he said, the farm machine roaring behind him, cutting and gathering his year’s wheat harvest.

Chelab had planted most of his 10 acres (4 hectares) of land, but he could only irrigate a quarter of it after the Agriculture Ministry introduced strict water quotas during the growing season, he said. The produce he was growing on the rest of it, he fears, “will die without water.”

At a time when worldwide wheat prices have soared due to Russia’s invasion of Ukraine, Iraqi farmers say they are paying

UK Companies to Trial 4-Day Workweek Louis Bloomsfield inspects the kegs of beer at his brewery in north London, eagerly awaiting June when he will get an extra day off every week.

The 36-year-old brewer plans to use the time to get involved in charity work, start a long-overdue course in particle physics and spend more time with family.

He and colleagues at the Pressure Drop brewery are taking part in a six-month trial of a four-day working week with 3,000 others from 60 U.K. companies.

The pilot — touted as the world’s biggest so far -- aims to help companies shorten their working hours without cutting salaries or sacrificing revenues.

Similar trials have also occurred in Spain, Iceland, the United States and Canada.

Australia and New Zealand are scheduled to start theirs in August.

Alex Soojung-Kim Pang, a program manager at 4 Day Week Global, the campaign group behind the trial, said it would give firms “more time” to work through challenges, experiment with new practices and gather data.

He told AFP that small organisations should find it easier to adapt, as they can make big changes more readily.

Pressure Drop, based in Tottenham Hale, is hoping the experiment will improve their employees’ productivity and well-being.

At the same time, it will reduce their carbon footprint.

Another participant in the trial, the Royal Society of Biology, says it wants to give employees “more autonomy over their time and working patterns.”

Both hope a shorter working week could help them retain employees when UK businesses are confronted with severe staff shortages and job vacancies hitting a record 1.3 million.

Colombians to Vote for President Amid Discontent Colombians emerging from the coronavirus pandemic will vote for their next president Sunday, choosing from six candidates who promise various degrees of change amid rising inequality, inflation, violence and discontent with the status quo.

The ballot includes former rebel Gustavo Petro, who could become Colombia’s first leftist president Sunday if he can get the 50 per cent of the votes needed to win in the first round. If no one gets more than half the votes, a runoff between the two top vote-getters will be held.

Pre-vote polls show Petro ahead but failing to get 50%. Behind him are a populist real estate tycoon promising monetary rewards for tips on corrupt officials and a right-wing candidate who has tried to distance himself from the widely disliked conservative current president, Iván Duque.

This is the second presidential election since the government signed a peace agreement with the Revolutionary Armed Forces of Colombia, known as FARC, but the divisive agreement was not a central campaign issue as matters like poverty and corruption garnered attention.

It will be Petro’s third attempt at becoming Colombia’s president. He was defeated in 2018 by Duque, who is not eligible for reelection.

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NEWSXTRA

DINNER WITH THE TOP TRAVEL INDUSTRY PLAYERS...

L-R: Chief Operating Officer, Touchdown Travels, Mr Olufunso Ekundayo; Country Manager, Emirates Nigeria, Mr Paulos Legesse; Managing Director, Finchglow Travels, Mr Bankole Bernard; Senior Vice President, Commercial Operations, Emirates Africa, Mr Badr Abbas and Managing Director, Dees Travels and Tours, Mr Daisi Olotu, during a dinner with the top travel industry players by the visiting emirates senior vice president in Lagos...recently.

ABIODUN AJALA

Church Reacts on Death of 31 over Stampede in Rivers Blessing Ibunge in Port Harcourt King's Assembly, a new generation church, that hosted the free food items distribution, where about 31 persons died in a stampede, has expressed surprise and sadness over the incident.

In a statement by the church Director of Administration, Chimeka Elem, the church has

set up a team of safety specialists to establish the immediate causes of the stampede to enable them provide the authorities all required information in compliance with public safety laws.

He stated that the church organised the programme to reach the less privileged public but regretted the numbers of persons that died in the process.

"The King's Assembly is

Okechukwu: Buhari Must Support Consensus in APC to Save Naira from ‘Dollarised’Presidential Primaries Says PDP will be punished for abandoning zoning Onyebuchi Ezigbo in Abuja A chieftain of the All Progressives Congress (APC), and Director General of the Voice of Nigeria, Mr. Osita Okechukwu, has pleaded with President Muhammadu Buhari to support the consensus option in choosing its presidential candidate in order to rescue the Naira from dollarized presidential primaries as recently exemplified by the Peoples Democratic Party (PDP).

Speaking on the outcome the presidential convention of the Peoples Democratic Party (PDP), last weekend, Okechukwu also said with the emergence of former Vice-President Atiku Abubakar, PDP has set itself against its members from the south for ignoring zoning.

He noted that a nation’s currency was one of the critical indices of measuring the general health of its economy, stressing that when the currency nose-dives, it leads to hype-inflation, gross unemployment and abject poverty, thereby worsening the nation’s security.

In a statement last night in Abuja, Okechukwu decried the dollar rain during the recent Presidential primary of opposition Peoples Democratic Party (PDP) at the National Stadium Abuja.

He cited the withdrawal comments of Mohammed HayatuDeen, a financial guru, saying President Buhari should support the use of consensus method to ensure that the forthcoming APC presidential primary does not follow the PDP’s highest bidder Dollar Rain.

Okechukwu stated: “Albeit, our sister opposition political party has every constitutional right to elect whoever they want as their flag bearer, the Dollar rain is worrisome as noted by Mohammed HayatuDeen, who dubbed it obscenely

monetised presidential primary.

“Sincerely, I congratulate His Excellency, Atiku Abubakar on his emergence from the opposition party primary. But, as a patriot and stakeholder in the Nigeria project, I am worried by PDP’s induced Dollar Rain, which led to unprecedented depreciation of the Naira.”

Therefore, Okechukwu called on President Buhari to consider the consensus option to be adopted in the APC presidential primary election to save the Naira.

He lamented the monumental harm PDP’s Dollar Rain did to the nation’s economy, saying,“if that could happen in a party with about 731 delegates, imagine what will happen if APC with about 2, 322 delegates is allowed to indulge in Dollar Rain.

“If the Naira is already bleeding because of Dollar Rain on 731 delegates, please, better imagine the degree of depreciation of the Naira if another blitz of Dollar Rain is allowed to be splashed on 2,322 delegates? This is the farming season, as such the Buhari’s Agrarian Revolution would also be at risk if the Naira is allowed to depreciate further. Prices of fertilizer, seedlings and other farm implements will hit roof top.”

Still on consensus as against direct or indirect mode, the DG VON said: “All the three are democratic and are in our law books. Please, is it not paradoxical that the governors, and exgovernors who oppose consensus had adopted same consensus and even outright imposition to select their successors?

“To me they have lost the moral high ground to oppose Mr President from adopting such legal mode of primary election. One’s appeal is that politically correct aspirant should be consensually presented.”

deeply saddened by the stampede incident that happened in the early hours before the commencement of our benevolence and outreach programme called Shop-for-Free at Polo Club, in Port Harcourt on Saturday, May 28, 2022.

"The purpose of this nondenominational event is to share with the less privileged the gifts provided by our members, friends, and partners.

Unfortunately, lives were lost and several people sustained varying degrees of injuries.

"Our Medical Team has been working with medical volunteers and the Military Hospital in Port Harcourt to provide emergency medical services to those affected in this incident.

"While the incident has been reported to the Nigerian

Police Force, the church has commissioned a team of safety specialists to establish the immediate causes of the stampede to enable us to provide the authorities all required information in compliance with public safety laws.”

N E W S A N A LY S I S

Elon Musk Internet Firm’s Entrance into Nigeria as Game Changer?

Emma Okonji At the weekend, the world’s richest man, Elon Musk, announced via his twitter handle that the Nigerian Communications Commission (NCC) has issued Internet Service Provider (ISP) licence to his Internet Firm, Starlink, to operate internet service in Nigeria.

With the approval and issuance of licence, Starlink Internet Limited which is operated by SpaceX, will be trading as Starlink Internet Services Nigeria Limited.

Aside the ISP licence, NCC also issued Starlink with additional two licences, while three other licences are still pending, waiting for approval from the NCC Board.

The first three licences include: Internet Service Provider (ISP) operational Licence; International Data Access (IDA) operational licence; and Full Gateway Operational Licence. The other three licences include: Sales and Installation Major (S&I- Major) Licence; Gateway Earth Station (GES) Network Frequency Licence per Gateway the company is to build; and Very Small Aperture Terminal (VSAT) Network Frequency Licence.

Information gathered from the Commission showed that the regulator secured approval of the Minister of Communications and Digital Economy for SpaceX to be issued with relevant licences to enable the company to provide services in Nigeria.

Further to this, SpaceX has forwarded applications for the six licences to the Commission and which are at various stages of processing, before the ISP licence and two other licences were issued last week by NCC. Starlink is global internet firm that offers satellite internet access coverage to 32 countries. It also provides high-speed, low-latency broadband internet across the globe.

Starlink enables video calls, online gaming, streaming, and other high data rate activities that historically have not been possible with satellite internet.

Users also have the option to take Starlink with them via the portability feature of Starlink.

In May last year, Starlink’s Market Access Director for Africa, Ryan Goodnight along with SpaceX consultant, Levin Born paid a visit to the NCC where they expressed interest to obtain a license to operate the satellite internet in the country.

Prior to the visit, the NCC and the space company have been discussing the issue virtually before approval for a physical meeting was granted by the NCC. After SpaceX representatives provided an overview of its plans, expectations, licensing requests, and deployment phases, the Executive Vice-Chairman, NCC, Prof. Umar Danbatta, represented by the Executive Commissioner, Technical Services, NCC, Ubale Maska, then promised them that the NCC would work on necessary modalities to ensure that it balances the need for healthy competition vis-a-vis the entry of new technologies, in order to protect all industry stakeholders.

The Game Changer The entrance of Musk’s firm into Nigeria’s internet service market in Nigeria has been described by the federal government and industry stakeholders as the game changer that would provide ubiquitous internet access to Nigerians at a faster speed and expected to be much cheaper, when compared with the current cost of internet service delivery that is put at N288 per 1GB. Satellite internet, though more expensive to deploy, when compared with terrestrial fibre optic cable deployment, offers

faster penetration and ubiquitous access, penetrating even to the remotest part of any community, where fibre optic cannot easily reach. This means that Starlink would be able to offer internet services in rural communities, thus providing deeper internet and broadband penetration in rural communities, at cheaper cost.

Satellite internet would eliminate the additional cost of laying fibre optics broadband cable and digging up of roads in urban and rural communities for fibre cable laying, thus making internet service a lot more cheaper to deploy and access.

FG’s Excitement Pleased with the coming of Starlink to Nigeria, the Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami, said the new satellite service offerings from Starlink, would make broadband penetration much easier.

He said Nigeria has been encountering challenges such as the issues of right of way (RoW), vandalism of infrastructure, among others over the years but noted that the current administration has significantly addressed the challenges, and that Starlink will further overcome the challenges, through its satellite.

“With satellite infrastructure, broadband penetration could be much easier and by implication, it would make broadband services much cheaper. In 2019, based on a report I received from NCC, the average price of 1GB of data was N1100 compared with another most recent report from the Commission has indicated that broadband has been reduced to N288 per 1GB. “This is less than 30 per cent of what we used to pay. This is an indication that the prices are coming down and with the Starlink satellite, we do hope that it will continue to come down and by implication, it will support our

economic development,” Pantami said.

Linking the coming of Starlink with Nigeria’s National Policy on 5G, Pantami said: “With 5G policy in place and the satellite that we have, this will support our security institution to leverage on emerging technologies such as Robotics, Artificial Intelligence (AI), Augmented Reality, Virtual Reality, Internet of Things (IoT), and many more to handle security challenges and to facilitate their activities in control of communication, computing, information gathering, intelligence gathering, surveillance and reconnaissance.”

He said all these operations can easily be conducted with broadband from space, 5G technology in place and other emerging technologies and will go a long way in supporting Nigerian country in two ways of fasttracking economic development and handling security challenges.

“Based on our discussion with Starlink and SpaceX particularly in Poland in December, 2021 and also my engagement with the EVC of NCC, our plan is to achieve 70 per cent broadband penetration by 2025. But with the satellite, we could be able to achieve even more as we would be more ambitious now in order to ride on our previous achievements,” the Minister said.

Stakeholders’ View Some stakeholders who are licenced ISP operators welcomed Starlink, saying its entrance would bring about competition. “Yes we are pleased with the coming of another ISP into the Nigerian space, especially when it is coming through the firm of the world’s richest man, Elon Musk.

What this means is better market competition because the market is big enough to accommodate all ISPs,” one of the licenced ISPs said in anonymity.

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NEWS

INAUGURATION OF THE ULTRA MODERN HALL BUILT BY THE SAGAMITES CLUB...

L-R: President, The Sagamites Club, Otunba Seni Adetu; Ogun State Governor, Prince Dapo Abiodun; the Akarigbo and paramount ruler of Remoland, Oba Babatunde Ajayi and Asiwaju of Remoland, Chief Solomon Onafowokan, during the 50th anniversary and official inauguration of the ultra-modern hall built by The Sagamites club in Sagamu, Ogun State...recently

Security Forces Repel Attack by 100 Motorcyclists on Abuja Estate Two houses razed over death of two colleagues FCT Police chief visits scene of attack Kingsley Nwezeh in Abuja Security forces yesterday repelled an attack by over 100 motorcyclists on Global Estate in the Lokogoma area of Abuja The attackers razed down two houses in the estate before a combined detachment of soldiers and policemen repelled the attack.

The Federal Capital Territory Police Commissioner, Mr. Sunday Babaji, also visited the scene of the mayhem with a large deployment of police operatives for on-the-spot assessment of the situation.

The incident happened after a motorist reportedly ran over two Okada riders and sought refuge inside the estate.

Residents of the estate said the motorcyclists attacked the estate in their bid to apprehend an unknown motorist.

They said the motorist

was chased by a crowd of motorcyclists after he hit two of their colleagues.

"Over 100 Hausa bike riders attacked our estate some hours ago. They tried to burn down the estate by putting fire to two buildings.

“They pulled down our gate and started stoning people’s houses. We couldn’t stop them until the police and the army intervened.

“We later learnt that they attacked our estate because two of their colleagues were knocked to death by a motorist, who ran to our estate for safety as he was chased with big stones and other dangerous weapons.

“The motorist, who is not even a resident of our estate ran into the estate because he noticed a police post in front of the estate", one of the residents said.

In a statement, the FCT Police Command said "the

unrest followed a hit-and-run fatal accident that occurred around Same Global Estate, Dakwo, Galadimawa, at about 1:30 pm on Sunday.

The command assures residents that normalcy has been restored to the affected

area".

"The FCT Commissioner of Police, CP Babaji Sunday, was on the ground with a heavy deployment of operatives for an on-the-spot assessment. It is imperative to equally state that contrary to information

filtering about, no house was burnt," it said.

The CP assured residents of the command's commitment to the safety of lives and property within the FCT under his watch while urging well-meaning members of

the public to remain calm and go about their lawful businesses without the fear of harassment and molestation.

He also urged them to remain vigilant and report any suspicious or abnormal occurrence to the police.

Suspected Killer of Anambra Lawmaker Arrested David-Chyddy Eleke in Awka A leader of the high profile terrorists group commonly referred to as ‘unknown gunmen’ that had been terrorising Anambra State has been allegedly apprehended.

The apprehended terrorist who claimed to be a commander in the group was said to have been arrested yesterday, and confessed to being a part of the gang that killed and beheaded the lawmaker.

A Facebook user, Mr

Ikechukwu Onyia who shared pictures and videos of arrested commander said: "At about 1.35pm, today at EbenatorUdene Village, Amichi, Nnewi South LGA, Nnahadi Michael, was arrested by special tactical teams.

"He was unveiled as part of gang operating as unknown gunmen (UGM) while enforcing Sit-at-Home order at Amichi, extorting money and causing mayhem."

In the video, the culprit confessed to having only killed three persons since he

joined the group.

Speaking in Igbo, the culprit said: "We only tied them to confess if they were politicians, but two died. It was only one that was shot dead.

"As for the one that was beheaded, it was not me that beheaded him. I had not been made the commander then, but I joined them during that operation. Our commander then is now dead," he said.

Onyia in his post stated that the culprit's main cohort, Chikwendu Mbonu, a witch doctor of Obiagu was still

at large but his Shrine was destroyed, while the suspect is presently in command custody for further interrogation.

Meanwhile, the Anambra State Police command spokesperson, DSP Toochukwu Ikenga said he could not confirm the authenticity of the video, saying that the Imo State Police command was responsible for the arrest.

Calls to the spokesperson of Imo State Police command, CSP Abattam was not taken nor text messages replied.

Killing of 32: Zulum Visits Kala-Balge, Meets Bereaved Families Offers 100% increase for resident medical workers Gives deadline for reopening of hospital, school Borno State Governor, Prof.

Babagana Umara Zulum yesterday travelled to Rann, headquarters of Kala-Balge Local Government Area, to commiserate with mourning communities and families of 32 metal scavengers killed by Boko Haram/ISWAP last week.

In all, 32 persons from Kala-Balge were ambushed at a deserted Mudu village in Dikwa Local Government Area, which is located about 45 kilometres away from Rann.

They were believed to have been shot at close range.

Zulum was in Kala-Balge alongside the Majority Leader

of Borno State House of Assembly, Dige Muhammed, who hail from Kala-Balge, the member Federal House of Representatives representing Bama, Ngala and Kala-Balge, Dr Zainab Gimba, and former Commissioner for Higher Education, Science, Technology and Innovation, Dr Babagana Mustapha.

Zulum met community members and conveyed his sympathy.

The governor, whose visited Kala-Balge for the seventh time in three years, urged residents to desist from going to deserted villages, especially to scavenge

for metals because insurgents are engaged in searching for the same materials and can lay ambush.

“The insurgents and their collaborators used to scavenge for metals and other abandoned household materials in deserted villages. These serve as raw materials for their fabrications.

I urge you to desist from going to such places”, Zulum cautioned.

Zulum during the visit, held a meeting with Captain Mohammed Haruna Jibrin, the military’s commanding officer in Kala-Balge, involved with ongoing operations against

insurgents.

Zulum in all his trips to local government areas, usually meets with heads of the military to discuss and identify gaps in security arrangements for the purpose of strengthening them.

While in Kala-Balge, the governor inspected essential public facilities and announced 100 per cent increase in salaries for health personnel resident in Rann General Hospital.

“Any health worker that is willing to work here, we will double his or her salary and we will, insha Allah, make sure that there is a routine shift to

allow them to visit families,” Zulum assured.

Zulum also gave two months deadline for the reopening of the completed hospital and schools as well the completion of any ongoing projects in Rann, Headquarters of Kala-Balge LGA. The governor was dismayed by the absence of some basic social amenities in the local government headquarters.

“We have completed the general hospital, schools, the council secretariat while some other projects are ongoing.

These projects should be completed in two months,

insha Allah. This is the only LGA in Nigeria that doesn't have a functional school and this is unfortunate. We will do everything possible, insha Allah, to ensure basic amenities are functional”, Zulum said.

The Permanent Secretary, Ministry of Works, Engr. Goni Dunoma, had earlier explained to the governor that officials could not complete some ongoing projects because of difficulties in accessing the town.

He however assured the governor that they would soon complete some that have reached advanced stages.

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NEWSXTRA

TRADE ON THEIR MINDS… L-R: Economic Officer, US Embassy in Nigeria, Megan McPhee; US Ambassador to Nigeria, Mary Beth Leonard; Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo; Director of Trade, Ministry of Industry, Trade and Investment, Aliyu Abubakar and Director of Legal Services, Saheed Gegele, during the visit of the Ambassador to the Minister at the weekend.

NAFDAC Rejects Iwu's Claim on Cure of COVID-19 with Detox Tea Says two more herbal drugs listed for clinical trial Onyebuchi Ezigbo in Abuja The National Agency for Food and Drug Administration and Control (NAFDAC) has denied the claims of efficacy of IHP Detox Tea for the cure of COVID-19 patients allegedly made by the Chief Executive Officer of Bioresources Development and Conservative Programme, Prof.

Maurice Iwu. It said the first stage of the clinical trial so far carried out on the product was not enough to confirm its efficacy until the Phase 3 Clinical Trial had been conducted with enough sample size.

It also said it discovered 17 lapses during an inspection visit to the company.

In a statement signed by NAFDAC's Resident Media Consultant, Sayo Akintola, yesterday, the agency frowned at media reports ostensibly

circulated at the instance of the promoters of IHP Detox Tea which claimed that the herbal medicine was the only product approved by the agency for the treatment of COVID-19.

It quoted the Director General of NAFDAC, Prof. Mojisola Adeyeye to have said: "Only NAFDAC has the mandate to make any pronouncement on the quality, safety, and efficacy of all regulated products that showed satisfactory scientific evidence."

In the letter addressed to Iwu, Adeyeye said NAFDAC was the only authorised agency by law allowed to make any pronouncement on safety and efficacy of all regulated products with satisfactory scientific evidence (Clinical Trial).

She said it was worrisome that such unguided statement was made without the stated fact that no product could be

approved by NAFDAC without satisfactory clinical evidence.

The NAFDAC boss however explained that three herbal formulations were approved for clinical trial studies during the COVID-19 Pandemic.

She also said while two studies had commenced including the IHP Detox Tea, the third clinical trial study was yet to start.

According to her, the IHP Detox Tea clinical trial study at CMU/LUTH and NAUTH, approved for Iwu’s company, was only a pilot study, (that is still ongoing), with a small sample size that was inadequate to make pronouncement on safety and efficacy of the product.

She insisted that only a NAFDAC approved Phase 3 Clinical Trial with enough sample size could be used to make such claims on efficacy, after regulatory approval of the study outcomes.

Adeyeye noted with dismay that the World Health Organisation (WHO) team and other well-meaning individuals in the research space had found the claim of efficacy of the IHP Detox Tea misleading, adding that the agency was saddled with the responsibility to provide oversight and deter such inaccurate information on regulated products in the country.

She disclosed that preparatory to the WHO’s teams visit to Nigeria for the study, NAFDAC officials on inspection of the clinical trial site of IHP Detox Tea had found some lapses.

"We discovered some 17 lapses during our inspection visit. We passed the lapses to them as compliance directive to address,” she said, adding that the company was yet to respond to the identified lapses by the regulatory authority before

Soludo: Criminals Terrorising Anambra Want to Enthrone Idolatry over Christianity David-Chyddy Eleke in Awka Anambra State Governor, Prof Chukwuma Soludo yesterday partly attributed the activities of criminals terrorising the state to the move to enthrone idol worshipping over Christianity.

Soludo stated this at the Second Session of the Sixth Synod of Anglican Diocese of Aguata, held at St James' Church, Nanka, Orumba North Local Government Area.

He urged Christians in the state to unite to defend their faith in the face of evil and quest to intimidate the people back into idolatry.

He said: "The last institution those causing mayhem in the state want to exterminate is the church, but they will not succeed.

Anambra is a Christian state, and will never succumb to idolatry."

There has been a resurgence of traditionalists in the state recently, with many youths resorting to

fetish practices that had long been abandoned by their forefathers.

Soludo had earlier stated in a statewide broadcast that part of the strategy of the criminals was to instill fear in people, through traditional religious practices, which involves swearing people to oaths and human sacrifices.

Soludo addressing the church, however, stated that following his recent declaration of state of emergency on criminal elements operating in the state, security

forces were already taking the war squarely to the hideouts of those terrorising the state, saying most of them have been arrested.

"The quest to secure Anambra State is a collective fight. I urge ndi Anambra to report activities of those who have seen criminality in the state as a lucrative enterprise.

"Despite scanty resources, we are determined to give ndi Anambra a state to be proud of," Soludo assured.

UBA Rewards Loyalty as Customers win N16.6m in Promo The United Bank for Africa (UBA) Plc has rewarded its loyal customers in the just concluded UBA Super Savers draw, giving out a total of N16.6 million in cash prizes.

The computerised draw held at the Tony Elumelu Amphitheatre at the UBA Head Office at the weekend, was witnessed by members of the press as well as representatives of the National Lottery Regulatory Commission

(NLRC) and the Consumer Protection Council (CPC).

A breakdown of the prizes comprised 12 new millionaires who won a total of N13.2million; one person got N500,000; 20 Bumper Account holders smiled home with N100,000 each totalling N2million; 10 Savings Account customers were lucky to win N1million totalling N10million; and 5 NextGen customers will get N15,000 per person every month

for a year, totalling N900,000.

For the Bumper account draw, Elisha Zari Yusuf, a UBA Bumper account holder, emerged winner of the N2m prize; Naomi Ogoma Aba, another loyal customer of the bank won N1.2m; while Veronica Misimawu Logbo, was rewarded with N500,000 at the draws.

The 20 winners of N100,000 each were: Oluchukwu Philomena Aliuna; Olewu Stella Chinyere; Sola Friday

Bamidele; Sarafadeen Emitomo Sunkanmi; Jamila Usman; Rabiu Ibrahim Mahammed; Fine Ughelli; Anietie Sunday Akaninyi; Gloria Folake Oteji; Rabiu Ahmed Imam; Prestige Chukwuemeka Chima; Ifeanyi Okechukwu; Titilayo Mufutiat Leyeni; Aminat Abisola Adenusi; Nasir Umar Ismail; Musa Salisu; Chibueze Emeka; Ali Isla; Onireti Babatunde Charles and Ayoola Daniel Oyemomilara.

making pronouncement that the product was efficacious for the treatment of COVID-19 patients.

She however, asked Iwu to retract the statement on the same newspapers and any other platform used for such improper and misleading representation of the IHP Detox Tea study within 48 hours from the receipt of the letter and inform the agency on the action to avoid further regulatory sanctions.

The statement quoted Iwu to have admitted that NAFDAC remained the only authorised

agency by law allowed to make any pronouncement on quality, safety and efficacy of all regulated products with satisfactory evidence.

Iwu was also quoted as having disowned the report describing it as, "an unsolicited and independent editorial decision of the newspaper."

Iwu was also quoted to have said his company was not in a position to compel the newspaper to retract its story nor retract a story not published by it or at its instance.

Experts to Develop Framework for Transitional Justice in North-east Michael Olugbode in Abuja A group of Senior Legal Academics, Solicitor Generals/ Permanent Secretaries and personalities from related fields have converged in Abuja to develop a suitable framework for a successful transitional justice programme in north-eastern Nigeria.

The strategic experts’ meeting for the development of transitional justice framework is one of the activities under a project titled: “Promoting Transitional Justice and Reconciliation in Adamawa, Borno and Yobe State.” The project is being implemented by the National Human Rights Commission (NHRC) in Partnership with United Nation Development Programme (UNDP) and supported by the European Union (EU).

The Executive Secretary of the NHRC, Chief Tony Ojukwu, while delivering a welcome address at the meeting said the Commission was pleased to host the highest level of experts as far as justice machinery in the three states of Adamawa Borno and Yobe was concerned.

Ojukwu, who was represented at the event by his Senior Special Adviser, Mr. Hilary Ogbonna who also doubles as the Project Coordinator, stated that: "It is highly imperative to design a framework that will best suit the communities ravaged by insurgency," noting that, "the framework should be in

conformity with the values, beliefs, culture and tradition of the people, this will make it easy for the community to adapt."

He also stressed that, "the framework must be predicated on the principles of natural justice, fair hearing, victim justice, survivor justice, equality etc."

In his remark, the representative of the UNDP, Mr. Elia Von Rota applauded the effort of the Commission in bringing such calibre of intellectuals together to develop the framework, saying he would be pleased to be an observer at the meeting.

In his goodwill message, the Permanent Secretary and Solicitor General of Adamawa State Samuel Yaumande, said the initiative was the first of its kind in the North-east. He pointed out the need to have in place an effective justice system that would reconcile and reintegrate members of communities who have experienced gross human rights violations as a result of the insurgency.

He advised that, “in designing the framework, it is necessary to take into consideration the need of the victims to enable them pick up their pieces of lives and move forward.”

Similarly, his Yobe State Counterpart Hajiya Kadija Alkali said the programme could not have come at a better time than now, due to the recent massive surrender of many insurgents.

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NEWSXTRA

8TH EDITION OF THE MALTINA TEACHER OF THE YEAR...

L-R: Sustainability and CSR Manager, Nigerian Breweries Plc, Annabelle Umoetuk; Chairman, Nigeria Union of Teachers(NUT), Lagos State, Hassan Akintoye; Company Secretary/ Legal Director, NB Plc, Uaboi Agbebaku; Lagos State Coordinator, Teachers Registration Council of Nigeria(TRCN), Adaobi Ekwuno and Head of Integrated Communications, NB Plc, Uchenna SUNDAY ADIGUN Ibemere, during the flag-off of the 8th edition of the Maltina Teacher of the Year held in Lagos… recently

NCDC Declares Emergency Over Monkeypox Disease Onyebuchi Ezigbo in Abuja Nigeria Center for Disease Control (NCDC) said it has activated a national multisectoral Emergency Operations Centre for Monkeypox (MPX-EOC) at level 2 to strengthen and coordinate ongoing response activities in-country.

It said that genomic surveillance is ongoing at NCDC’s National Reference Laboratory in Abuja and so far all of the cases have been confirmed to be caused by West Africa clade Monkeypox virus.

A statement issued by the centre last night said that the measure was based on the report of a preliminary risk assessment

done by a group of Subject Matter Experts from the NCDC, relevant government Ministries Departments and Agencies and partner agencies.

According to the statement obtained from the website of the NCDC, it said that : "0n 26th May 2022, the Nigeria Centre for Disease Control and Prevention (NCDC) activated a national multisectoral Emergency Operations Centre for Monkeypox (MPX-EOC) at level 2 to strengthen and coordinate ongoing response activities incountry while contributing to the global response. This was based on the report of a preliminary risk assessment done by a group

of Subject Matter Experts from the NCDC, relevant government Ministries Departments and Agencies and partner agencies".

It said that, as at 29th May 2022, a total of 21 confirmed cases with one death have been reported from 9 states and the FCT - Adamawa (5), Lagos (4), Bayelsa (2), Delta (2), Cross River (2), FCT (2), Kano (2), Imo (1), Rivers (1). The death was reported in a 40-year-old patient who had underlying co-morbidity and was on immunosuppressive medications. NCDC said that genomic surveillance is ongoing at NCDC’s National Reference Laboratory in Abuja and so far all of the cases have been confirmed

Primaries: Catholic Church Slams Politicians for Promoting Money Politics Condemns alleged dollar rain on delegates Onyebuchi Ezigbo in Abuja The Catholic Church in Nigeria has expressed worry over what it described as greedy and transactional politics as exemplified from the outcome of the various party primaries conducted by the political parties.

Speaking in an interview with journalists shortly after the church service at the St. Gabriel Chaplaincy, Catholic Secretariat in Durumi, Abuja, to mark this year's World Communication Day, the Director of Social Communication of the Catholic Secretariat of Nigeria, Fr. Mike Umoh, said the level of abuse of the democratic process was becoming worrisome.

He said: "Politicians are at it again playing their music, dancing and listening to themselves. What is going on at the moment with the primaries is very disheartening to say the least. The manner the primaries are proceeding simply boils down to the fact that we are not listening.

"Our politicians are not listening to the people. Our politicians keep drumming to themselves and dancing to their drums, not to the people. The signs from the primaries so far are very disheartening and worrisome.

"We just hope and pray that even if politicians refuse to listen to them, the people themselves should decide to listen to their own song and do the right thing because no politicians will indeed succeed without using the same people they are oppressing."

Umoh said the philosophy

behind the relationship between the oppressed and the oppressor was that the oppressor would never relinquish power to the oppressed, unless the oppressed realises himself, his needs and wants and work to wrestle that power away.

He, however, lamented that from the way things were going, many of the oppressed were still allowing politicians to play bread and butter politics with them.

In reference to what went on during the presidential primaries of the Peoples Democratic Party (PDP) at the weekend, the cleric alleged that dollars and naira could be seen exchanging hands, adding that it was clear that the delegates were not choosing persons who would help the people, they are simply voting for people who gave them money. He said by their action, the delegates were mortgaging their future and prolonging the terrible situation of the country.

According to the priest, what was happening calls for more conscious efforts by the people to wrestle power and fight against these oppressors.

Speaking on this year’s World Communications Day, Umoh said Pope Francis proposed the theme “Listen”, urging all Catholics and the whole of humanity to cultivate the habit of listening with the ear of the heart.

The Catholic Bishops Conference of Nigeria (CBCN) has taken this initiative a step further by expanding the universal one-day celebration of the media to a one-week celebration.

Thus, they came up with the Communications Week (ComWEEK) programme and the maiden edition concludes today.

On his part, the Secretary General of the Catholic Secretariat of Nigeria, Rev. Fr. Zachariah Samjumi said the main focus of this year's Communications day was summed up in the injunction given by Pope Francis urging citizens of the world to learn to listen to one another.

to be caused by West Africa clade Monkeypox virus. The May 2022 Monkeypox situation report can be assessed.

Among the 21 cases reported in 2022 so far, there has been no evidence of any new or unusual transmission of the virus, nor changes in its clinical manifestation documented (including symptoms, profile and virulence).

Prior to the activation of the MPX-EOC, a multi-agency Technical Working Group (TWG) coordinated at the NCDC led Nigeria’s efforts to improve the detection, prevention and control of Monkeypox. Nigeria’s national surveillance system, the Surveillance Outbreak Response Management and Analysis System (SORMAS) was first deployed in response to the 2017 Monkeypox outbreak to improve the timeliness and completeness of case reporting, as well as facilitate the overall response.

In addition, it said that the pilot project informed the nationwide scale-up of SORMAS to enable real-time reporting of surveillance data for prompt public health response to infectious disease outbreaks including COVID-19.

"Following the detection of the index case on September 22, 2017 and the effective containment of the 2017 outbreak in Nigeria, the NCDC through the Monkeypox TWG worked on various interventions to gain a better

understanding of the epidemiology of the virus to inform preparedness and response in-country.

"The TWG coordinated the development of national Monkeypox guidelines, capacity building of healthcare workers and surveillance officers on case detection, sample collection, laboratory testing for confirmation and sequencing of the virus at NCDC’s National Reference Laboratory and intensified public awareness through risk communication.

"Furthermore, a national One-health risk surveillance and information sharing (NOHRSIS) group has been inaugurated to facilitate timely information exchange on all prioritised zoonotic diseases. NOHRSIS will also strengthen the collaborative efforts of the One health/IHR Unit at the Point of Entry to intensify surveillance for the disease in animals as well as ensure minimal contact with suspected animals.

In addition, the One Health Animal Surveillance team including Federal Ministry of Agriculture and Rural Development, Federal Ministry of Environment, National Veterinary Research Institute and partners commenced operational research on Monkeypox virus prevalence in small mammals at the human-animal interface since October 2018. This research has been completed in 7 states with

a planned roll out in all other states to commence soon.

According to NCDC, although Nigeria’s risk of exposure to the Monkeypox virus is high based on the recent risk assessment conducted at NCDC, the current situation in-country and globally has shown no significant threat to life or the community that can result in severe disease or high case fatality rate. The EOC will continue to monitor the evolving situation to inform public health action accordingly.

Symptoms of monkeypox include sudden fever, headache, body pain, weakness, sore throat, enlargement of glands (lymph nodes) in the neck and under the jaw, followed by the appearance of a rash (often solid or fluid-filled at the onset) on the face, palms, soles of the feet, genitals and other parts of the body.

The NCDC emphasises that members of the public should remain aware of the risk of Monkeypox and adhere to public health safety measures specifically, report to the nearest health facility if you notice the known signs and symptoms of the disease. Healthcare workers are to maintain a high index of suspicion for Monkeypox and report any suspected case to the relevant state Epidemiology Team for prompt public health intervention including sampling for confirmatory testing.

Ekweremadu's Demand for APC Guber Ticket Evil, Says Agballa Gideon Arinze in Enugu The Chairman of the All Progressives Congress (APC) in Enugu State, Ugochukwu Agballa has described as evil, moves by former deputy president of the senate, Ike Ekweremadu to clinch the ticket of the party.

Ekweremadu had withdrawn from the governorship primary election of the People's Democratic Party (PDP) hours before it was held on Wednesday, May 25.

After his withdrawal, it was rumoured that he had plans to defect to the APC to contest the party’s governorship ticket. He was reportedly spotted at the campaign office of the chairman of the Abuja chapter of the APC holding talks in what appeared

to be a last-minute effort to join forces with the APC. However, while addressing newsmen yesterday, on the outcome of the party's primaries, Agballa said he had led a delegation to meet Ekweremadu before the primary election and advised him to join the APCas he didn’t stand the chance to clinch the governorship ticket under the PDP. "But rather than accept to take part in the primaries, he asked that the party give him the it's ticket" he said. "But I told him it wasn't possible".

Agbballa said the party had held a primary that produced a candidate and was observed

by INEC, adding that it was not ready to give Ekweremadu a

waiver and undo what it had done.

He maintained that the former deputy president of the senate was not a member of the party and that he is trying to muscle his way and get the ticket of the party.

"It is repugnant to natural justice and an evil that we had resisted,'' he said. " The party was not ready to deny anybody a candidate the right to contest in the primaries".

Speaking further, Agballa said it was clearly against the provisions of the electoral act which he was actively involved in.

"It is sad that he is trying to subvert section 84 of the act" he said. "While we want him to be a member of the party, we

cannot give him the ticket to the party and his actions are typical of Nigerian politicians who do not practice what they preach".

He said Ekweremadu has been in power for over 20 years and should give other people the chance to also lead as Nigeria does not operate a monarchy.

He said the party, under his leadership, was ready to resist all attempts to bring back the political dynasty that brought sadness, tragedy and brutalisation to the people.

"We have repositioned our party to take over power in Enugu state and we will provide a platform of choice for the people and also bring to an end the monopoly that the PDP has enjoyed over the years" he said.

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NEWS

Wanted Drug Pusher Arrested in Ondo, Italybased Nigerian Excretes 95 Pellets of Heroin Michael Olugbode in Abuja

Wanted drug kingpin behind the 2000.6 kilogrammes cannabis sativa seized in a concrete mixer truck in Adamawa State last December, Henry Okamaru (a.k.a. Lawrence Ik Okamaru) has been arrested in Ondo state after five months of manhunt by operatives of the National Drug Law Enforcement Agency (NDLEA).

Two suspects, Matthew Donuwe and Friday Nmborgwu were arrested in connection to the consignment last December and had confessed that the concrete mixer truck with Lagos registration number SMK 890 XB was loaded with the illicit drug in Ogbese, Ondo state while they travelled for two months on the road before arriving Adamawa where they were eventually arrested by NDLEA operatives.

A statement yesterday by the spokesman of the NDLEA, Femi Babafemi, said investigations have revealed that Okamaru is one of the leaders of a cannabis cultivation cartel that operates in the Ondo-Ekiti axis, and shuttles between Osun, Ondo, Ekiti, Edo

and Delta State from where he coordinates supplies of illicit consignments to Northern parts of the country and Lagos State.

According to Babafemi, the drug lord has also been identified

as a member of an international drug trafficking ring, and shuttles between Nigeria and South Africa where he settles his family. He has a strong control and stake in cannabis cultivation in Ondo, Edo,

Ekiti, Osun and Oyo States with large storage facilities in Lagos and Abbi in Delta State from where his consignments are distributed year round.

Also, a 36-year-old Nigerian

based in Italy, Nwakanma Uche has been arrested at the Nnamdi Azikiwe International Airport, Abuja for ingesting pellets of heroin.

Nwakanma was nabbed while

trying to board Air France Airline enroute Abuja-Paris-Milan, Italy on Sunday 15th May 2022. He was thereafter kept under observation during which he excreted 95 pellets of the illicit drug.

ECOLOGY CONFERENCE…

L-R: Chancellor, Lagos Archdiocese, Reverend Monsignor Anthony Obanla; Catholic Archbishop of Lagos, Rt Rev Dr. Alfred Adewale Martins; Lagos State Commissioner for Health, Prof. Akin Abayomi; Coordinator, Ecology Work Group, Mrs. Marie Fatayi-Williams and her husband, Mr. Allan Fatayi-Williams, during the Archdiocese of Lagos Ecology Work Group Conference 2022 in Lagos....recently BABIODUN AJALA

Bayelsa West: YPP Female Gunmen Kill Former NPC Commissioner in Nasarawa Candidate Vows to Defeat Senator Dickson Emmanuel Ukumba

Sunday Aborisade in Abuja

The candidate of the Young Progressives Party(YPP) for the Bayelsa West Senatorial District in the 2023 election, Mrs. Tombra Mohammed (nee Waritimi), has explained why she would defeat the incumbent, Senator Seriake Dickson at the poll.

Mohammed told THISDAY in an exclusive interview in Abuja that it was the time for the former governor of the state to leave the stage baecause his style of politics had become old fashioned.

The entrepreneur described

her entrance into politics as a divine inspiration as she had not held any elected political office before.

She, however, said since she grew up in the village and actively participated in their activities and trade, her people would trust her to manage their affairs better, having known that she has always identified with them.

Mohammed said: “When I see Senator Dickson, I see him as someone who should leave the stage for a better idea. My father used to say, it is better to leave when ovation is loudest.

Lagos Senator, Daniel, Salisu Win Ogun APC Senatorial Tickets James Sowole in Abeokuta The Senator Representing Lagos West in the National Assembly, Solomon Olamilekan Adeola, the former Governor, Gbenga Daniel and the former Chief of Staff to Governor Dapo Abiodun, Shuaib Salisu, have won the All Progressives Congress (APC) Senatorial tickets in their respective Constituencies.

While Adeola, popularly known as Yayi, defeated the incumbent Senator, Tolu

Odebiyi, in Osun West, Salisu won in Ogun Central while Daniel won in Ogun East.

At the Ogun West exercise, conducted at the ancient Orona Hall, Ilaro, Yewa South Local Government area of Ogun State, all the accredited delegates from .the five local government s that made up the district, voted for Adeola.

Specifically, Adeola, who is a second term senator, polled 194 votes while his opponent, did not secure anyå vote.

2023: Omo-Agege Optimistic APC Will Unseatprimaries PDPinin Delta the state, and Deji Elumoye in Abuja Deputy President of the Senate and Delta state governorship candidate of the All Progressives Congress (APC), Senator Ovie Omo-Agege, has expressed optimism that the APC will unseat the Peoples Democratic Party (PDP) during the general elections in the state next year.

The ranking Senator, in a statement felicitated APC candidates that emerged victorious in the party’s

expressed confidence that the standard bearers would defeat the PDP in Delta State and emerge victorious in the various elections come 2023.

Describing the APC primaries as a sign of good things to come in the state, Omo-Agege stressed that the outcome of the elections is a victory for the Delta APC family, as it has demonstrated the capacity to work together for the good of the party and the state as a whole.

Gunmen in the early hours of yesterday reportedly invaded Azuba satellite town of Lafia and killed Mr. Zakari Umaru Kigbu, a former commissioner who represented Nasarawa State at the National Population Commission (NPC), and abducted his two daughters to unknown destination.

THISDAY learnt that the incident occurred at about 12:20a.m. at the deceased’s resident

in Azuba Bashayi, about four kilometres away from the city centre of Lafia, the Nasarawa State capital.

It was further learnt that the gunmen stormed the deceased resident with sophisticated weapons and shot sporadically into the air to scare the neighborhood before gaining entrance into the deceased’s compound and shot him and subsequently abducted two of his daughters to unknown destination.

A family member, who didn’t want his name mentioned, confirmed the incident.

He said: “Umaru-Kigbu was killed by unknown gunmen last night in his resident at Azuba Bashayi and two of his daughters were taken away by the gunmen to an unknown destination.”

The murdered Kigbu was one time president of the Eggon speaking group’s socio-cultural organisation: Eggon Cultural Development Association (ECDA) worldwide.

Confirming the incident in a telephone conversation, the Nasarawa State Police Command Public Relations Officer, ASP. Ramhan Nansel, said that the incident took place and investigation was ongoing to ascertain on whether the victim was assassinated by gunmen or not.

The police image maker also confirmed that two of the deceased’s daughters were taken away by the gunmen to unknown destination.

Kwara Central Senator Oloriegbe, Loses Bid to Return to Senate, Mustapha, Ashiru, Sodiq Win Hammed Shittu in Ilorin The Senator Representing Kwara Central in the National Assembly, Dr. Ibrahim Yahaya Oloriegbe, at the weekend suffered defeat in his bid to return to the Senate in 2023.

Oloriegbe scored the least

votes amongst the three All Progressives Congress’ (APC) aspirants that participated in the senatorial primary that was held in Ilorin, Kwara State.

A former National Chairmanship Aspirant of the APC and the Turaki of Ilorin, Mr. Saliu Mustapha,

scored 136 votes to emerge the winner of the senatorial shadow election.

A Business Mogul, Mr. Yahaya Seriki, scored 78 while Oloriegbe scored only 15 votes.

In Kwara North, the Incumbent Senator, Mr. Suleiman Sodiq Umar, scored

202 votes to emerge the winner while his rival, Hon. Tauheed Daudu Toyin, scored 75 votes.

Also, another Incumbent Senator Representing Kwara South, Mr. Issa Lola Ashiru, polled 158 votes to beat his opponent, Hon. Raheem Ajulopin, who scored 154 votes.

Southern Kaduna Youths Urge Uba Sani to Choose Ashafa as Running Mate The Kaduna State All Progressives Congress(APC) Governorship candidate, Senator Uba Sani, has been advised to choose Alhaji Isma’il Yusuf Ashafa as his running mate in the forthcoming 2023 election.

A group, Southern Kaduna Progressive Youths, made the call at a press conference in Kaduna.

“If chosen to serve as the running mate of distinguished Senator Sani in the forthcoming 2023 Kaduna State gubernatorial election, Alhaji Ashafa has all it takes to contribute positively to

the development of the state,” the group said.

According to the group, having carved a niche for himself, he has always believed in the spirit of togetherness and since braveryy is the soul of wit as postulated

by Williams Shakespeare in his novel Hamlet, Ashafa is a man with the natural intelligence and endowed with the talent to make the state great via his positive contributions if given the opportunity to jointly serve the state alongside Senator Sani.

“Therefore, it is no surprise

that there are growing calls and agitations amongst the youths of Kaduna State and Southern Kaduna in particular for Alhaji Isma’il Yusuf Ashafa (Sardaunan Ikulu) to join His excellency Senator Uba Sani as a running mate in the race to occupying the Sir Kashim Ibrahim House come 2023,” he said.

They said that as youths of Kaduna State and their zone, Southern Kaduna, they are at this juncture with a unanimous voice and in one accord, endorsing the calls

and yearnings of the people for Alhaji Ismail Yusuf Ashafa (Sardaunan Ikulu) to run with Distinguished Senator Uba Sani in the build up to the 2023 elections.

The group added: “We also want to urge Distinguished Senator Uba Sani to consider picking Alh. Ismail Yusuf Ashafa (Sardaunan Ikulu) as his running mate for the elections, a joint ticket which in our firm believe holds greater chances to a landslide victory at the polls come 2023.

Osun 2023: Oyetola Warns Opposition Parties against Violence

The Osun State Governor, Adegboyega Oyetola, has warned opposition parties against political violence ahead of July 16 governorship election in the state.

Oyetola said that his administration will no longer tolerate the repeat of an attack on journalists as well his supporters by an opposition party which occurred during

his campaign in Gbongan town last Monday.

The governor said this during a meeting organised

by Osun Civic Engagement Office with members of Nigeria Professional Photographers and Videographers Association Osun Chapter on Sunday in Osogbo.

Represented by his Special Adviser on Civic Engagement, Mr. Olatunbosun Oyintiloye, the

governor urged the opposition parties to play the game of politics according to the rule of the game.

He said:”I want to say this, very important, I want the opposition parties to please play the game according to the rules.

“I don’t want any violence in Osun. We are a peace loving state. We are seen to be one

of the most peaceful state in Nigeria.

“I don’t want anything that will affect the peace of our state.

Do your campaign as expected.

The incident in Gbongan will never be tolerated again.

“We’ve been going about doing our campaigns peacefully.

I expect the opposition parties to emulate our peaceful campaign across the state.

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Gunmen Kill Lecturer, Abduct His Daughters in Nasarawa Methodist Church Prelate, Two Others Abducted in Abia

clergyman was abducted abduction of the clergymen people of the state to provide Abia State.

Gunmen have killed a lecturer, the abducted victims.

The Police Public Relations alongside two others, the as unfortunate but gave an the police with useful Meanwhile, a Prelate of Zakari Kigbu, who before his demise, worked with the Isa the Methodist Church of Officer in the state, Geoffrey Bishop of Methodist Church, assurance that the police information that could lead Mustapha Agwai Polytechnic, Nigeria, Dr Samuel Uche, Ogbonna, confirmed it in Owerri Diocese, and the were already making efforts to the release of the prelate and the two others, as well as to ensure their safe return. has been kidnapped by Umuahia, the state capital. prelate’s chaplain.

Lafia in Nasarawa state.

He also appealed to the the arrest of the kidnappers.

Ogbonna described the According to him, the Channels Television yet-to-be-identified men in reported that the gunmen also abducted two of his daughters during the attack.

The Police Public Relations Officer, Rahman Nansel confirmed the incident.

He said: “We got a distress call at about 12:20 am about the attack and reacted swiftly by mobilising our patrol teams and the military to the scene.

“Upon arrival, it was discovered that the victim had been shot in his abdomen. He was rushed to the hospital and confirmed dead while his two daughters were abducted to an unknown destination.”

Nansel added: “The command has commenced an intensive manhunt for the perpetrators of the dastardly act.”

The commissioner of Police has since visited the scene, condoled with the bereaved and assured the family of the victim that a comprehensive investigation will be carried L-R: First Chairman, CMC Connect (Perception Managers), Billy Lawson; Executive Director, Raheem Olabode; former Director, Tunde Dabiri; former Director, Mrs. Elizabeth out and no stone will be left Lawson; Current Chairman, Mr. Akin Opeodu; Group Managing Director, Mr. Yomi Badejo- Okusanya, and former shareholder, Sir Steve Omojafor, at the 30th anniversary of the ABIODUN AJALA unturned in order to rescue company in Lagos…recently

CMC CELEBRATES 30TH ANNIVERSARY...

Police Arrest 11 Suspected 2023: Ex-INEC Commissioner, Civil Defence Boss, Cultists for Killing in Abeokuta Scholars List How to Overcome Security Challenges James Sowole in Abeokuta Operatives of Ogun State Police Command have arrested 11 members of Eiye Supreme Confraternity, who were allegedly responsible for the killing of one Olaosebikan Tejuosho, at Isale Abetu area of Abeokuta on March 25, 2022.

The arrest of the suspects was disclosed by the Ogun State Police Public Relations Officer (PPRO), Mr. Abimbola Oyeyemi.

Oyeyemi gave the names of the suspects as Mr. Quadri Ogunsanya a.k.a Oguns, Mr. Jamiu Kehinde a.k.a General

Smart, Mr. Adenekan Samuel a.k.a Adiye, Mr. Waris Ismail, Mr. Olamilekan Hamsat a.k.a Diara, Mr. Bamidele Waliu, Mr. Makinde Azeez, Mr. Makinde Ifajimin, Mr. Makinde Fashakin, Mr. Makinde Faleke and Mr. Ajeifa Arifasope.

He said that they were arrested at Itoku area of Abeokuta meåtropolis following credible information received by anticultists section of the command that the cultists who were said to have been involved in series of bloody cult clashes within the metropolis were planning another onslaught at Itoku area.

2022: PDP Candidate Unveils Manifesto, Says He Won’t Be Fayose’s Stooge Victor Ogunje inAdoEkiti The Governorship Candidate of the People’s Democratic Party (PDP) in the oncoming June 18 election in Ekiti State, Hon Bisi Kolawole, unveiled his six-point agenda on Saturday and restated that he would not be a surrogate to former Governor Ayodele Fayose if elected governor.

Kolawole disclosed that standing on the shoulders of a “political giant” like Fayose would be a plus to his administration in terms of guidance, advice and contributions

to governance based on the former governor’s experiences as a two term state’s chief executive.

The PDP candidate said this in Ado Ekiti while unveiling his manifesto that would serve as the compass and policy thrust of his administration if he emerged victorious in the poll.

The former commissioner revealed that his six-cardinal agenda is anchored chiefly on participatory governance, security of lives and property, and agricultural development and food security.

Judge Hands Off Ex-Lagos PDP Governorship Candidate, Gbadamosi, Ex-Wife Family Crisis settlement they both signed.

Wale Igbintade

A Judge of the Federal High Court in Lagos, Justice Ayokunle Faji, has recused himself from family dispute involving a chieftain of the Peoples’ Democratic Party (PDP) Babatunde Olalere Gbadamosi, and his estranged wife, Folashade.

Justice Faji disqualified himself from further hearing the matter since efforts by the court to help the couple reach an amicable settlement failed.

Their lawyers had informed the court that they were unable to settle amicably and accept terms of

Consequently, Justice Faji transferred the suit to the Chief Judge for reassignment to another judge.

Folashade had through her lawyer, Dr. Bayo Adaralegbe, dragged Gbadamosi before the court alongside two firms, Redbrick Homes International Limited and Ashlead Estates Limited, in a suit numbered FHC/L/CS/752/21, seeking for an order of perpetual injunction against her estranged husband from laying claims to the legal, equitable or beneficial ownership or Directorship of Redbrick Homes International Limited, Ashlead Estates Limited.

Goddy Egene

Security experts, election managers and scholars have said that the Nigerian government must, as a matter of urgency, rally all stakeholders to ensure better security in the country ahead of the 2023 general elections.

They spoke during an online symposium with the theme: 2023 General Elections: Enhancing Internal Security for Credible Polls.

Speakers at the event include a former National Commissioner of the Independent National Electoral Commission, (IDEC) Prof Lai Olurode, a Professor of Political Science at the Usman Dan Fodio University, Sokoto,Ilufoye Sarafa Ogundiya; a Senior Research Fellow at the Nigerian Institute of Social and Economic Research (NISER), Dr. Hakeem Tijani, and the Commandant General of the Nigerian Security and Civil Defence Corps, Dr.

Abubakar Ahmed Audi.

At the virtual event which was organized in honour of the Minister of Interior, Ogbeni Rauf Aregbesola who clocked 65, Ogundiya, in his paper, noted that Nigeria must as a matter of urgency, allow democracy to make sense to the people for them to embrace peaceful elections.

He said: “Where democracy is yet to make sense, elections won’t make any sense,” adding that the general insecurity in the

country and especially in the North poses a major challenge to credible conduct of elections.

Ogundiya alluded to a recent alarm raised by the Chairman, INEC, Prof Mahmood Yakubu, over the threats to the exercise.

Giving statistics, Ogundiya said between 2011 and 2021, 58,562 persons were killed by terrorists in seven Northern states of Borno, Zamfara, Kaduna, Adamawa, Yobe, Benue and Plateau.

For Unity, Fairness, Group Restates Calls for Southern Presidency Sunday Okobi The Nigeria Equity Group (NEG) has reinstated that for the sake of the Nigerian unity, political inclusion and fairness, the presidency should be zoned to Christian South.

The group said it considered it to be very inequitable, unfair and potentially dangerous for the presidency to remain in the North after President

Muhammadu Buhari’s tenure.

In a statement issued and made available to THISDAY yesterday, which was signed by its National Convener and National Secretary, Dr. Emeka Nwosu and Alhaji Mohammed Mubarak respectively, NEG said: “We wish to respond to the emergence of the former Vice President Atiku Abubakar as the presidential candidate of the Peoples

Democratic Party (PDP) for the 2023 presidential election. We wish to draw attention to the fact that the NEG has campaigned vigorously for equity, fairness and inclusion in our body polity.

“In our several interventions over the years, we have appealed to the major political parties to be mindful of the complex heterogeneous Nigerian society and to work out a political solution that will be fair, inclusive

and equitable to all.”

It added that: “In this case, we believe that what is just and fair is for presidential powers to be zoned to the South, specifically to a southern Christian, after the eight-year rule of President Buhari, a northern Muslim. We consider it to be very inequitable, unfair and potentially dangerous for the presidency to remain in the North after President Buhari’s tenure.

Group Urges Defeated A’ Ibom APC Guber Aspirants to Unite for Victory A group, Transparency Watch, has urged aspirants who lost out in the recently concluded governorship primaries of the All Progressives Congress (APC) in Akwa Ibom State to embrace the winner and collapse their structures into his structure to enable the party clinch the governorship position in next year’s general election.

In a statement released by its spokesman, George Emmanuel, the group said that since a winner, Obong Akanimo Udofia , had

emerged during the governorship primaries, the proper thing to do as democrats is to support him in the overall interest of the state.

The group said that by extending an olive branch to his co-aspirants despite winning the primary in a landslide, the renowned businessman and philanthropist, Udofia, had demonstrated his recognition of the fact that winning the 2023 governorship election required unity of purpose within the Akwa

Ibom APC family.

The group said: “The battle ahead is a tough one and since a winner has emerged, it is incumbent on all aspirants, including Senator Ita Enang, Senator Akpan Udoedehe and Professor Chris Ekong, who are all distinguished statesmen in their own right, to bury the hatchet and take the next step in kicking the Peoples Democratic Party (PDP) out of power in the state.

“In a contest such as this, only

one person can emerge winner and, what is more, those who have lost out today can emerge winners tomorrow.

“The 2023 governorship election is a contest with deep implications for the future of the Akwa Ibom people and all APC members must sheathe their swords at this time and work together as one body, particularly as Akwa Ibomites are looking towards the APC for succor, and to redeem the battered image of the state.

N84bn Fraud: EFCC Arrests Ex-Zamfara Governor Yari

The Economic and Financial Crimes Commission (EFCC) has arrested a former Governor of Zamfara State, Abdul’aziz Yari.

Sources within the antigraft agency said the former governor was arrested for his alleged role in the N84 billion fraud involving a former Accountant General of the Federation(AGF), Ahmad Idris.

According to Channels Television, Yari was said to

have been picked up at about 5pm yesterday for allegedly benefitting to the tune of N22 billion from the N84 billion which the former AGF reportedly paid to one Akindele.

According to the sources, the anti-graft agency also arrested one Anthony Yaro who is the Chairman and Managing Director of Finex Professional, the company through which

former Governor Yari allegedly benefited from the fund.

Yari’s arrest came barely a day after he won the ticket of the All Progressives Congress (APC) to contest for one of the three senatorial district seats of Zamfara State in the National Assembly.

Channels Television had reported that the primary was witnessed by Governor Bello

Matawalle of Zamfara alongside party officials from both the APC national headquarters and the state executives, among others.

Yari contested for the APC ticket unopposed at the exercise monitored by a team of officials of the Independent National Electoral Commission (INEC) and security agencies in Talata Mafara Local Government Area of the state.

MONDAY MAY 30, 2022, ˾ T H I S D AY

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Ijaw Congress Hails Emergence of Governorship, Senatorial Aspirants in Niger Delta Olusegun Samuel in Yenagoa The Ijaw National Congress (INC) has congratulated Ijaw governorship, House of Representatives, and senatorial aspirants who emerged as candidates in the primary election conducted by their political parties in the Niger Delta region for the 2023 general election.

The President of the INC, Professor Benjamin Okaba, commended them during an interview with journalists at the Bayelsa State International Airport shortly after his arrival from an assignment in Abuja at

the weekend.

Okaba particularly expressed delight over the emergence of riverine governorship candidates for the All Progressives Congress (APC), the Peoples Democratic Party (PDP) and Accord Party (AP), among others in Rivers State.

He lauded the parties, political leaders and the people and government of Rivers State for the significant choice of eminent Ijaw sons as the standard bearers of the political parties for next year’s general election.

He also expressed confidence in the capacity and ability of the

standard bearers to effectively govern the state if any of them is elected governor.

According to him, the process for their emergence was largely devoid of rancour and violence, which was hitherto the unfortunate scenario in previous years.

He thanked politicians who lost their election bids in the exercise for demonstrating the spirit of sportsmanship.

The INC chief also urged the parties and political actors to shun political thuggery and ensure a peaceful environment as the build-up to the forthcoming polls gathers momentum.

2023: Serving Rep, Others Threaten to Dump APC over Alleged Imposition Onuminya Innocent in Sokoto Member of the House of Representatives representing Illela/Gwadabawa federal constituency, Dr. Balarabe Salame, has sponsored the training of no fewer than 557 youths on various skills acquisition programme in Sokoto.

The exercise, in collaboration with Free Light of Nigeria Youth Foundation (FLONY), a non-governmental organisation (NGO), has trained the people on baking of cake, soap making and other skills.

At the end of the one week

training on Yesterday, the lawmaker expressed happiness over the exercise, saying the gesture has impacted on a lot of the youths.

“I am very delighted with the commitment of the youths to learn new skills toward improving their living standard.

“This gesture is part of the President Muhammadu Buhari’s agenda toward reducing the number of unemployed youths and eradicates poverty in our society.

“We really appreciate FLONY’s dedication and generosity in making it possible for our teeming

youths across the country to gain new skills for our country’s best future,” he said.

Salame added that the beneficiaries of the training will be supported each with N20,000 under the President Buhari’s Poverty Alleviation Programme.

He urged the beneficiaries to judiciously utilise the opportunity toward supporting their family and the society at large.

In her remarks, the FLONY National President, Hajiya Farida Jauro, thanked the lawmaker for making it possible for the NGO to succeed in the assignment.

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MONDAYSPORTS

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

0811 181 3083 SMS ONLY

Peseiro Reveals Major Takeaway from Super Eagles Loss to Mexico

Super Eagles coach, Jose Peseiro, has said he liked the response of his players in the second half and credited their desire and character in the game.

Mexico pegged the Super Eagles back as early as the 12th minute as young attacker, Santi

Gimenez gave Sl Tri the lead.

Nigeria came out better and more alert in the second half and scored in the 53rd minute through Cyriel Dessers before losing the parity three minutes later through an own goal.

There were however positives

Oshoala Makes History with Barcelona in Cup Triumph Super Falcons striker, Asisat Oshoala has celebrated another trophy triumph after Barcelona thrashed Sporting de Huelva 6-1 at the Estadio Santo Domingo in Alcorcón to lift the Copa de La Reina on Sunday.

Only eight days ago, the Spanish champions were defeated 3-1 by French giants Olympique Lyonnais to surrender the UEFA Women Champions League trophy they won last year. Oshoala was a halftime substitute in that encounter.

The Nigeria international striker then scored the last goal as Barcelona recovered from the Lyon loss to thump arch-rivals Real Madrid 4-0 in the semifinal of the Copa del la Reina in midweek.

Oshoala was, however, an unused sub in the final as

It was a loss but I’m happy with the performance of my players.

They showed character because after what Mexico did to us in the first half, we improved much in the second half.”

The Super Eagles will next face Ecuador in another friendly game with more players expected to have arrived camp while the team is also expected to have had more training sessions.

Meanwhile, President of the Nigeria Football Federation, Amaju Pinnick has expressed positivity with the performance of the Super Eagles in the game against Mexico.

Pinnick, impressed by the team spirit said; “I am happy with what we put up out there. It was the first time after the disappointment of the World Cup playoff and

you can say this is a makeshift team, while Mexico had their full-strength squad out there,” “I like what I saw today and I have confidence that we have appointed the right coach that can restore the glory of the Super Eagles and make them start winning once more.”

Peseiro’s first game in charge and he said he was proud of the team’s performance too.

goalkeeper Fisher’s own goal and strikes from María León, Crnogorcevic, Pina, Martens, and Alexia powered Jonatan Giráldez’s Ladies to another dominant win.

The victory secures Oshoala and Barcelona all three Spanish domestic titles this season – the Super Cup, the League title, and now the Queen’s Cup. Barcelona, with their latest exploits, stroll into the record books with their ninth Women Championship honours, the fifth League and Cup double, and the second time in history that any team would claim the domestic treble.

On a personal note, Oshoala closes an incredible campaign that sees her finish as the League’s top goalscorer with 20 goals in 19 games.

Police Wins IGP Kickboxing Championship The Nigeria Police machine team at the weekend surpassed all oppositions to emerge champions at the 1st Inspector General of Police National Open Kickboxing Championship held at the police college ground Ikeja, Lagos. with seven gold, seven silver and one bronze medal while Delta State came second with six gold and three silver.

The third position went to Edo Black Scorpions club that picked five gold, seven silver and five bronze medals.

The Minister of Sports, Sunday Dare, commended the Inspector General of Police, Alkali Baba Usman for sponsoring the championship.

Represented by Mrs. Nkana Mbora, the Lagos Liason officer

to take from the game according to the coach.

“In the first half, Mexico was much better than us. In the second half, I think we had more balance. We had better control of the ball. Our team cannot stay everytime but we had much control of the ball. ”In the second half it was much better. We lost and I think Mexico had more opportunities.

of the Sports Ministry at the final, the minister thanked the IGP for collaborating with the Kickboxing Federation of Nigeria in putting up the championship.

Usman has really proven himself as a true lover of sports hence, he should keep it up.

Encouraged by the large turnout of participants, the chairman of the Nigeria Police Kickboxing Association, ACP Abubakar Yakubu, thanked the IGP for giving members of the Nigerian Police force the platform to exhibit their God given talents by repositioning of sports within the Force.

Over 150 kickboxers drawn from across 18 states and 12 club sides across the country, took part in the weeklong exercise held from May 23-28.

The top three winners of the 8th Okpepe Road race receiving their dummy cheque from the Deputy Governor of Edo State, Phillips Shaibu (right).... at the weekend

AFN Lauds Organisation of 8th Okpekpe Road Race Adibe EmenyonuinBeninCity The President of Athletics Federation of Nigeria, AFN, Mr Tonobok Okowa has hailed the organization and performances of athletes at the just concluded 8th Okpekpe Road Race.

The AFN boss said: "We at AFN are happy that the race is not just back but better. I was scared that it might not come out well as we haven't had it in the last two years, but it came better than it used to be. More so, Nigerian Athletes did better than they use to do. They all returned with their personal best time, which is a great

improvement. And seeing the massive support from the local community, gladdens my heart.

“Going forward, AFN would advocate that all states should have one road race, so we can train more athletes and perform well at the international stage."

In his reaction, Edo State deputy governor, Mr. Philip Shaibu, who participated in the VIP category noted that the state government is already taking advantage of the Okpekpe road race to domesticate some sports in parts of the state.

According to him, "In Okpekpe, the topography is good for marathon race and so the area has

been mapped out for camping and training of long distance runners.

Edo Central is for gymnastics while Edo South is for swimming. We are gradually domesticating and relocating sports to areas where they have comparative advantage and the people of that area can take advantage of opportunities those sporting activities brings.

Ethiopian duo of Jasim Haji and Dessie Adchiniau emerged winners in both male and female categories of the Okpekpe 10 kilometers Road Race.

In the male category, Jasim Haji finished with a time of 29:05 to come first, while Elvis Cheboi from

Kenya ran 29:20 to come second and another Ethiopian, Derekek Mego came third in 29:30 minutes.

In the female category, Ethiopian Dessie Adchiniau ran 33:09 minutes to pick the top prize, Dorcas Kimeli also from Ethiopia came second in 33:33 while Abigael Jelimo from Kenya ran 33:53 minutes to come third.

In the local category, Ismail Sanjo ran 31:12 minute to come first in the male category while Rose Atuche ran 36:40 minutes to come first in the female category.

The top prize winner of the 8th edition of the Okpekpe Race won $13,000.

Goda Sets New Record at ITTF Africa Cup as Assar Retains Title Fourteen-year-old Hana Goda became the youngest winner of the ITTF Africa Cup after the Egyptian claimed her first senior continental title at the 2022 edition held in Lagos, Nigeria.

Also, Omar Assar reclaimed his men’s singles title after beating Nigeria’s Quadri Aruna 4-3 in the final held at the Molade Okoya-Thomas Hall of Teslim Balogun Stadium in Lagos.

Goda, who made her first appearance at the Africa Cup was number two seed in the women’s singles and she was at her best from the group matches to the final to become the youngest at 14 years and five months to win the continental tournament at the expense of former champions.

Despite her smooth ride from the group to the semifinal stage where she was pitched

against defending champion and compatriot Dina Meshref, Goda faced a stiff competition.

Despite going down in the first game, the world number cadet player cruised to victory after a 4-3 (7-11, 11-2, 14-12, 5-11, 15-13, 14-16, 11-9) to hit her second final at the senior continental tournament.

Goda who narrowly lost to Mariam Alhodaby in the women’s singles final of the 2021 African Championships in Cameroon had it easy in the final when she defeated surprise player of the tournament Nigeria’s Fatimo Bello 4-0 (11-7, 11-5, 11-4, 11-6) to emerge as the new champion and secured her place at the 2022 World Table Tennis (WTT) Cup Finals later in the year.

The men’s singles final turned out to be another classic in Africa

with the continent’s best two players going up against each other in one of the most exciting table tennis finals in the world.

The venue was electrified with the ever-supporting Lagos fans who continuously motivated the players with their support from the stand.

The 2000-capacity venue was filled up with the atmosphere well charged for the epic final between the continent’s most successful players.

At the 3-3, Aruna was leading 4-1 in the seventh game when he copped a thigh injury that scuttled his chance of reclaiming the title, he won last in 2014 but the injury slowed down his performance for him to concede defeat to Assar who retained the title he won in 2019 at same venue.

A disappointed Aruna said:

“Of course, I gave almost everything, from when I could move, to when I couldn’t move very well again. I was already feeling tightness from my thigh.

Despite that, of course I never gave up, as I was still fighting on until finally at 3-3, and at 4-0, I was leading… It is one of those things in sports, but I am very happy with my performance.”

An excited Assar said: “I am very happy to perform here in Lagos, and I believe here is the place I have received the most support in my career. It has been so long a time since I last played here because of the COVID-19 pandemic. I believe here is the best place to play in Africa because the people love table tennis and they always love to watch the sport, and the hall is always filled up, which you don’t see often in Africa.

“I am happy that I won today, but at this time, I am worried about Aruna’s injury. Aruna and I are very close friends outside the court. To me, the most important thing is that he is healthy and that he is not in pain. I wish him all the best and soonest recovery,” he said.

For Goda, winning her first continental title in front of the Lagos fans was exciting. “I am very excited and very thankful that I won. Everything here in Lagos is so good. From the organisation to the hospitality, everyone here is so kind and the fans, they make you feel so ready in the match. Before the final I was really motivated with the fans' support and I'm going to remember this place forever because when you win your first senior title, you will be happy in it forever,” Goda said.

HANA GODA...

New African table tennis sensation

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MONDAY, ͻ͸˜ ͺ͸ͺͺ ˾ T H I S D AY

SPORTS

NPFL: Rivers Utd Edge Closer to Title, Beat Dakkada FC 3-2 Rivers United continued to exert their superiority over other teams with their fifth away win of the season in a 3-2 victory in Uyo over Dakkada. But in Jos, Plateau United protected their impressive record before their fans after a 4-0 home win over Enugu Rangers, in one of the Matchday 30 fixtures were decided across Nigeria.

They retain their seven points advantage at the top, which they could extend to 10 with a home win over Plateau United next Wednesday in Port Harcourt.

MFM left the bottom of the log for the first time in recent weeks

to occupy the 19th spot with 31 points after they grabbed their eighth home win of the season in a 3-1 success over Gombe United in a tie decided earlier on Saturday at the Otunba Dipo Dina Stadium, Ijebu Ode. It was a fantastic weekend for Fidelis Ilechukwu and his men after Plateau United inflicted on Enugu Rangers their biggest loss of the season in a 4-0 home win to ensure they have picked up all available 45 points from the 15 games played at the New Jos Stadium.

Plateau United remain in

the second spot with 57 points opening a nine-point lead between them and their defeated foes.

Rangers continued to occupy the third spot with 48 points despite the loss after fourth placed Remo Stars suffered an embarrassing 3-1 home defeat to Kano Pillars.

The Sky Blue Stars were beaten only for the second time this season and it was the rejuvenated Sai Masu Gida that thumped them in Ikenne.

At the Dan Anyiam Stadium, Owerri, troubled Heartland FC secured their fourth successive home win after they came back

from a goal down to beat Shooting Stars 3-1.

Sunshine Stars bagged a routine 2-0 home win over Katsina United through the goals of Afeez Ajagbe and Ugochukwu Leonard with the latter getting his ninth goal of the season from the penalty spot five minutes from normal time.

Kwara United had Samad Kadiri to thank for their home win over Akwa United in Ilorin. The former Enyimba star notched his eighth goal of the season from the penalty spot in the 35th minute.

Kwara United are on the fifth spot with 46 points but the reigning

league champions slipped to the seventh spot with 44 points.

At the Tafawa Balewa Stadium, Bauchi, Wikki Tourists marked their return to their home ground with a lone goal win over Abia Warriors. Fuad Ekelojuoti's strike in the 33rd minute proved to be the difference. Wikki are in 10th spot with 41 points. Abia Warriors are in the 15th spot with 36 points and only two points away from the drop zone.

At the Enyimba International Stadium, Aba, Enyimba and Nasarawa United played an entertaining game that produced five goals in regulation time.

Enyimba moved a step up to the sixth spot with 45 points but are still three points away from the top three while Nasarawa United slid a spot down to the 13th spot with 38 points.

A total of 30 goals were scored

NPFL Matchday 30 Results MFM 3-1 Gombe Utd Sunshine 2-0 Katsina Utd Kwara Utd 1-0 Akwa Utd Heartland 3-1 3SC Remo 1-3 Kano Pillars Dakkada 2-3 Rivers Utd Plateau Utd4-0 Rangers Enyimba 3-2 Nasarawa Wikki 1-0 Abia Warriors from the nine completed games in the Matchday 30 fixtures to make it one of the most productive weeks in the league this season with Matchday 31 fixtures already fixed for midweek.

First International Goal for Super Eagles Delights Dessers KRC Genk attacker, Cyriel Dessers was delighted to have scored his first international goal for the Super Eagles in the 2-1 loss to Mexico.

Dessers scored a header from a Calvin Bassey cross in the 53rd minute to help Nigeria restore parity in the game. It was his first goal in the Nigerian shirt and it happened on his full Super Eagles debut.

The attacker who had a good season the last time has been subject of a transfer merry-go-round

Victor Moses was in action as Spartak Moscow won the Russian Cup... yesterday

between Genk and Feyenoord, but he has put that behind him for now to focus on the Super Eagles.

“Mexico v Nigeria, couldn’t be more proud to score my 1st international goal,” Dessers wrote in a tweet.

The forward was also impressive in the game as he provided a number of options for the coaching crew to ponder about going into the future and beginning with the next game against Ecuador.

Sets up Djokovic's Marcelo Leaves Real Nadal French Open Q'finals Madrid after 15 Years Marcelo will leave Real Madrid this summer, he confirmed on Saturday, after winning a record-breaking 25th trophy at the club in their 1-0 Champions League final victory over Liverpool.

The veteran defender was an unused substitute in Madrid's win in Paris but lifted the trophy -- his fifth Champions League having been involved in 2014, 2016, 2017 and 2018 -- as club captain.

Marcelo, 34, had said earlier this week that he wanted to stay at the Bernabeu with his contract due to expire next month, but said after the game that he would be leaving Madrid after 15 years.

"It's an incredible emotion because it's my last game at Real Madrid," he told journalists in the mixed zone at the Stade de France. "Leaving with a Champions League is a huge joy. It isn't a sad day."

The left-back became the most decorated player in Real Madrid's history when he overtook legendary winger Paco Gento's 23 trophies as the club won LaLiga last month.

His trophy haul now stands at five Champions Leagues, four Club World Cups, three European Super Cups, six league titles, two Copas del Reys and five Spanish Supercopas.

Marcelo had been widely expected to move on this

summer -- having lost his firstteam place to Ferland Mendy in recent seasons -- but said in the aftermath of Madrid's league title celebrations that he wanted to continue.

"You talk about things," he said on Saturday. "We've spoken and we've decided it's best like that. I've already done everything I had to do at Madrid. I've been lucky to be here for 15 and a half years at the best club in the world."

Marcelo joined Real Madrid from Fluminense in January 2007. He has been linked with a return to Brazil, although his family are settled in the Spanish capital, with son Enzo starring this season for Madrid's under-13 team.

Rafael Nadal sets up a French Open quarter-final against long-time rival Novak Djokovic after winning an absorbing five-set battle with Canada's Felix Auger-Aliassime in Paris.

Spain's Nadal, 35, dropped sets for the first time at this year's event but recovered to win 3-6 6-3 6-2 3-6 6-3.

Top seed Djokovic moved up a gear to beat 15th seed Diego Schwartzman.

The 35-year-old Serb produced his best level so far in the tournament to win 6-1 6-3 6-3 in his

Forrest Seal Premier League Return after 23-year Wait Marcelo leaving Real Madrid after 15-year trophy-filled career

Moses Wins First Trophy in Russia as Spartak Moscow End 19-year Cup Wait Former Nigeria international, Victor Moses secured his first trophy win in Russia after helping Spartak Moscow beat Dinamo Moscow 2-1 to win the Russian Cup inside the Stadion Luzhniki in Moscow on Sunday.

With Dinamo Moscow finishing the Premier League season in the top three and Spartak managing a disappointing tenth position, Moses and co were the underdogs going into the final against their city rivals.

fourth-round match.

Fifth seed Nadal fixed up a 59th career meeting with Djokovic - a men's record by beating ninth seed Auger-Aliassime later on Sunday.

Elsewhere, Alexander Zverev booked his place in the quarterfinals despite a patchy display against Spanish qualifier Bernabe Zapata Miralles as the third seed triumphed 7-6 (13-11) 7-5 6-3.

The 25-year-old German will next face the winner of Sunday's night session encounter between Spanish teenager Carlos Alcaraz and Karen Khachanov.

But goals from Sobolev and Promes either side of halftime sandwiched Zakharyan’s 55thminute effort for Dinamo and powered Spartak to their first Russian Cup triumph since 2003.

Victor Moses saw every minute of action in the encounter, playing as a wing-back.

The 2022 Russian Cup is the first trophy Moses will win since he joined Spartak two years ago from Chelsea first on loan and then permanently for €5 million

a year later. The former Crystal Palace winger only picked up a Premier League runners-up medal in his first season with the Gladiators.

Before arriving in Moscow, however, Moses won the Europa League, the Premier League and the English FA with Chelsea.

The 32-year-old was also a member of the Super Eagles squad that lifted the 2013 Africa Cup of Nations in South Africa, Nigeria’s third continental title.

Nottingham Forest ended their 23-year wait for Premier League football with a narrow win over Huddersfield Town in the Championship play-off final - a victory worth about £170m - at Wembley.

Promotion back to the top flight caps a brilliant turnaround to their season, which had started with six defeats in seven.

"Levi Colwill's own goal from James Garner's cross was the decisive moment.

Town improved after the break but struggled to create a big chance.

Their best opportunity saw Harry Toffolo booked for diving in the area by referee Jon Moss, officiating for the final time before retiring, and, although replays suggested Jack Colback had made some contact, it was not overturned by VAR. Forest held out in the face of mounting pressure to spark

scenes of jubilation and end their two-decade exile from the Premier League.

Relive Forest's play-off final win over Huddersfield Steve Cooper has completely turned the club's fortunes around after taking over from the sacked Chris Hughton in September.

They were not at their best in their first appearance at Wembley in 30 years but the game's big moment went in their favour before the break.

The impressive James Garner, on loan from Manchester United, whipped in a dangerous ball from the inside left position and Town defender Colwill could only divert the ball past his goalkeeper Lee Nicholls under pressure from Ryan Yates.

The Terriers had more possession and carried more threat after half-time but could not force Brice Samba or his replacement Ethan Horvath into a save of note.

TR

Monday, May 30, 2022

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Price: N250

MISSILE Political Activist to APC, Jonathan

“What will APC tell Nigerians? That they have brought back Goodluck Jonathan to repair the damage they said he did to Nigeria? All things considered, the idea of a Jonathan presidential run on the platform of the APC looks untidy and would take a miracle to succeed at the 2023 poll. It does not look good for either Jonathan or the APC” – Political Activist, Ebiowei John, berating APC and Jonathan, for their unholy alliance for the 2023 poll.

MAHMUDJEGA VIEW FROM THE GALLERY

No Fire; What Consumed Charcoal?

F ormer Vice President Atiku Abubakar’s clinching of the PDP presidential ticket early Sunday morning climaxed a week of high drama in Nigerian politics, which produced many firsts on the turbulent political scene.

One high drama that captured the essence of the season unfolded in Kaduna. Adam Namadi, son of former Vice President Namadi Sambo, lost his bid for PDP’s Kaduna North House of Representatives ticket after showering two million naira on each delegate. He promptly demanded for a refund. There is a Hausa adage that says where there is no fire, what was it that consumed the charcoal? According to Senator Shehu Sani, Adam managed to gather back his money by employing hunters and vigilantes.

These tough men temporarily abandoned the hunt for kidnappers and bandits that have been terrorizing Kaduna and instead went after duplicitous delegates, who reluctantly refunded the money.

A man showered N2 million on each delegate and still lost a House of Representatives primary?

Because other aspirants paid more. Another aspirant was said to have paid N2.5 million each while the eventual winner allegedly paid N3.5million to each delegate. So the highest bidder won.

Unlike his taciturn, scandal-averse father, the former vice president, Adam Namadi is a newbreed politician who does not fear controversy. When one newspaper described his demand for a refund as dramatic, Adam wrote to it, saying, “There was nothing ‘dramatic’ about the request…Delegates themselves are aware of the directives given by major PDP stakeholders in Kaduna North that any sums given to delegates by various aspirants for their support should be returned to those unsuccessful in their primary elections.” In other words, party elders officially sanctioned the monetization of primaries, up to and including a rule that money spent by losing aspirants should be refunded. Politics couldn’t sink lower than that.

Similar drama unfolded in Ondo State when PDP Senator Ayo Akinyelure lost his reelection bid. Akinyelure got 58 votes while Ifedayo Adedipe, SAN, got 82 votes.

The senator’s men quickly retrieved a Lexus car from a delegate, Chief Segun Adegoke.

They also gave Adegoke a 24-hour ultimatum to return the dollars he reportedly collected.

Akinyelure was as straight-faced as Adam Namadi; his spokesperson Charles Akinwon said the delegates did not fulfil their part of the bargain.

All over the country last week, no occupation had a higher status than “delegate.” According to social media wags, a young man went looking for a wife somewhere in Nigeria and when he was asked what he does for a living, he said he is a delegate! Just like dollar, the exchange value of delegate appreciated when President Buhari failed to sign the last-minute amendment to the Electoral Act which would have increased their number three or four fold by introducing statutory delegates. This artificial scarcity of delegates thus led to a dollar-style stiff value appreciation.

Adam Namadi Senator Shehu Sani, who took to Facebook to reveal Adam Namadi’s novel debt collection strategy, himself got 2 votes in the same contest. He did not embark on any debt collection because he had earlier declared that, as an adherent of new politics, he will not give money to any delegate. When he however promised to show gratitude to the two anonymous delegates that voted for him, more than 30 delegates came forward and claimed they were the ones! Delegates are no better than bandits, Sani declared. While Shehu Sani got two votes, Senate Leader Dr. Yahaya Abdullahi, Mallamawan Kabi, got zero vote in Kebbi APC’s governorship primary.

His supporters promptly cried foul.

Drama aside, other consequential things happened on the political scene last week.

With a few days to PDP’s convention, Mr. Peter Obi suddenly quit the presidential race and the party. That removed the most serious South East contender from the PDP race. There was a lot of speculation that Obi would team up with Rabi’u Musa Kwankwaso in NNPP but he eventually pitched tent with Labour Party. The last time LP recorded success in an election was when Olusegun Mimiko clinched

the governorship of Ondo State on its ticket, a decade and a half ago. Obi’s arrival quickly raised the party’s profile, even though he is not exactly the kind of left-wing flagbearer envisioned by LP’s trade union founders.

A gale of withdrawals and defections in both major parties followed last week’s primaries.

Former Deputy Senate President Ike Ekweremadu quit PDP’s Enugu governorship race. Senator Eyinnaya Abaribe quit PDP’s Abia governorship race. Former Kebbi State governors Muhammad Adamu Aleiro and Sa’idu Dakingari quit Kebbi APC’s senatorial races. Two days to the convention, Mohammed Hayatudeen quit PDP’s presidential race. As the PDP convention got underway, Sokoto State Governor Aminu Tambuwal called it quits. While some of them blamed happenings within the primary process for their decision to quit, Hayatudeen blamed the monetisation of politics. Surprising for a banking guru, who should be at home with anything to do with money.

At the weekend one presidential aspirant, Owelle Rochas Okorocha, was cooling his heels in EFCC detention after a spectacular operation on Wednesday to capture him from his house. While EFFC agents laid siege to his house because he jumped bail, Okorocha broadcast an appeal to them on social media to allow him to finish his screening for the APC presidential primaries. This was brushed aside and the court remanded him in custody.

All first term governors in both major parties secured their parties’ return tickets. Mai Mala Buni in Yobe, Babajide Sanwo-olu in Lagos, Dapo Abiodun in Ogun, AbdulRahman AbdulRazaq in Kwara, Mohammed Inuwa in Gombe, Abdullahi Sule in Nasarawa, Babagana Zulum in Borno and Bello Matawalle in Zamfara all secured APC return tickets with relative ease. Seyi Makinde in Oyo and Ahmadu Fintiri in Adamawa also secured PDP return tickets. One first term governor, Bala Mohammed of Bauchi, went for a hat trick. While contesting for PDP’s presidential ticket, Bauchi PDP elected his SSG Ibrahim Kashim as governorship candidate. Now that Bala has lost the ticket, watch out for a PDP substitution drama in Bauchi.

In states where the governors were not eligible to run, no one formula defined success in last week’s major party primaries. The deputy governor clinched APC’s ticket in

There was nothing ‘dramatic’ about the request…Delegates themselves are aware of the directives given by major PDP stakeholders in Kaduna North that any sums given to delegates by various aspirants for their support should be returned to those unsuccessful in their primary elections

Jigawa. In Sokoto, the SSG got PDP’s ticket.

In Kebbi APC, it was a trade unionist. In Niger APC, it was an MP. In Benue PDP, State Assembly Speaker Titus Uba defeated the deputy governor. In Rivers PDP, Wike anointed his Accountant General. In Katsina, Director General of SMEDAN defeated a crowded field of aspirants including Masari’s SSG and Managing Director of the Mint. In Abia PDP, it was former Vice-Chancellor of Abia State University, Professor Uche Ikonne. In Enugu PDP, it was former Finance Commissioner Peter Mba. In Delta PDP, it was State House of Assembly Speaker Sheriff Oborevwori. In Ebonyi APC, it was former State Assembly Speaker Ogbonna Nwifuru, with former Revenue Mobilisation, Allocation and Fiscal Commission [RMAFC] chairman Elias Mbam nominated by a rebel faction.

The most spectacular primary election win was probably in Adamawa APC where Senator Aishatu Dahiru Binani defeated four big male aspirants, including former EFCC chairman and former ACN presidential candidate Nuhu Ribadu, former state governor Mohammed Jibrilla Bindow and former House of Reps spokesman Abdulrazaq Namdas. Some newspapers said her’s was the first major party primary election win by a female. That is erroneous; the late Mama Taraba, Aisha Jummai Alhassan was APC’s 2015 governorship candidate in her state. Another spectacular win, of Benue APC’s guber ticket, was by suspended Roman Catholic priest Hyacinth Alia, who defeated former PDP national chairman Barnabas Gemade and former Attorney-General of the Federation Mike Aondoakaa.

There were spectacular loses as well. Highflying ex-senator Dino Melaye lost PDP’s ticket in Kogi West while Senator Smart Adeyemi lost APC’s ticket in the same district. In Jigawa, the sensationally comical Mohammed Gudaji Kazaure lost APC’s ticket for Kazaure/ Roni/ Gwiwa/Yar’kwashi federal constituency. If APC knew what it was doing, it should have ensured a consensus nomination for this national asset, who makes the most downto-earth contributions in the House. APC and PDP are fielding strong candidates in some states that they don’t control. They include Zamfara PDP’s Dauda Lawal, Bauchi APC’s Air Marshal Sadique Abubakar, Kebbi PDP’s Major General Aminu Bande and Kano PDP’s Mohammed Abacha.

There was some indication last week that political dynasties are taking shape in Nigeria.

Among the persons who won various party tickets were General Sani Abacha’s son in Kano, former governor Sule Lamido’s son in Jigawa, Governor Nasiru el-Rufa’i’s son in Kaduna, former governor Abiola Ajimobi’s son in Oyo, former governor James Ibori’s daughter in Delta, Governor Abdullahi Ganduje’s son in Kano, Governor Ifeanyi Okowa’s daughter in Delta, former governor Adebayo Alao-Akala’s son in Oyo, former governor Ayo Fayose’s son in Ekiti as well as former governor Ahmed Sani, Yariman Bakura’s son in Zamfara.

For the biggest of all political drama, we are looking forward to APC’s special convention early next week.

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