TUESDAY 31TH MAY 2022 by THISDAY Newspapers Ltd

Fuel Subsidy May Hit N6trn in 2022, IMF Warns Nigeria Predicts 100% of country’s revenue may be for debt service by 2026 Nigeria received $6.8bn facilities from global lender in two years Akabueze rejects IMF’s prediction on debt service 80 Million Nigerians facing food insecurity, says UN country representatives Ndubuisi Francis in Abuja and Nume Ekeghe in Lagos With Nigeria's fuel subsidy payout

averaging N500 billion monthly, total expenditure on subsidy could hit a record N6 trillion mark by year-end, the International Monetary Fund

(IMF) warned yesterday. The multilateral lender also revealed that a macro-fiscal stress test it conducted on the country

showed that interest payments on debts in the country could amount to Nigeria using 100 per cent of its revenue to service debts by 2026 if

not closely monitored. IMF’s Resident Representative for Nigeria, Mr. Ari Aisen made these disclosures while presenting the

latest Sub-Saharan Africa Regional Economic Outlook, in Abuja. Continued on page 10

INEC Reacts to Election Guidelines Adjustment, Says It's Not Unilateral…Page 6 Tuesday 31 May, 2022 Vol 27. No 9912. Price: N250

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APC Screens Tinubu, Amosun, Amaechi, Badaru, Nwajuiba, Six Others Screening continues today with Osinbajo, Fayemi, Onu on standby Bakare, Ken-Ohaneye say they won't challenge the party if asked to step down

UNITED WE STAND, DIVIDED WE FALL...

L-R: Former Minister of Police Aﬀairs, Adamu Waziri; National Vice Chairman, Peoples Democratic Party (PDP) for South-south, Dan Orbih; Senator Olaka Nwogu; Rivers State Governor, Nyesom Wike; PDP Candidate for 2023 Presidential Election and former Vice President, Atiku Abubakar, and Former Ekiti State Governor, Ayo Fayose, after a meeting at Wike's residence in Abuja ...yesterday

Adedayo Akinwale in Abuja The All Progressives Congress Continued on page 10

Southern PDP Governors Ganged Up against Me, Wike Alleges My presidential bid sent message to north that south can’t be underrated Tells Atiku many people around him have no electoral value, pledges to deliver party in 2023 Ex-vice president, Rivers governor, Saraki, Anyim close ranks, advance collaboration for next year’s elections Chuks Okocha in Abuja and Blessing Ibunge in Port Harcourt Rivers State Governor Nyesom Wike yesterday accused his southern colleagues of masterminding his failure to win the ticket, saying they

ganged up against him with some vested interests to derail the quest for a southern president. He stated that the effort he put up to clinch the Peoples Democratic Continued on page 10

After Emerging LP’s Presidential Candidate, Obi OFFICIAL OPENING OF PREMIUMTRUST BANK... MD/CEO, PremiumTrust Bank, Emmanuel Emeﬁenim; Executive Governor Delta State, Senator Ifeanyi Okowa; and the General Overseer RCCG, Pastor Enoch Says Emancipation of Nigeria Has Begun ... Page 12 L-R: Adeboye at the oﬃcial opening of PremiumTrust Bank Asaba Branch, Delta State, …yesterday

TUESDAY MAY 31, 2022 • T H I S D AY

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580

NEWS

STRONGER TOGETHER TOWARDS 2023... L-R: Former PDP National Chairman, Alhaji Kawu Baraje; former President of the Senate, Dr. Abubakar Bukola Saraki; PDP Presidential Candidate, Alhaji Atiku Abubakar, and Senator Dino Melaye, during Atiku’s visit to Saraki’s home in Maitama, Abuja.... yesterday

Komolafe: Nigeria Lost N434bn to Crude Oil Theft in Q1 Sylva: Why international oil companies are leaving Nigeria Says fuel subsidy biggest impediment to downstream sector’s growth Dangote calls for single-digit tax regime to encourage investments in petroleum sector Brent crude oil hits $120 as EU meets on Russia sanctions Emmanuel Addeh in Abuja and Peter Uzoho in Lagos The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, has said Nigeria lost about N434 billion (about $1 billion) to oil theft between January and March this year. The huge amount lost to oil theft was disclosed same day the Minister of State, Petroleum Resources, Mr. Timipre Sylva, said international oil companies (IOCs) are leaving Nigeria because the environment was becoming too volatile for their operations. Also, Africa's richest man and President of the Dangote Group, Alhaji Aliko Dagote has advised the federal government to introduce a single-digit tax regime to encourage investments in the downstream and midstream sectors of the Nigerian oil and gas industry. Komolafe was speaking at the Iwereland Petroleum Communities Summit on the implementation of the Host Communities’ Development Trust in oil producing Itsekiri communities under the Petroleum Industry Act (PIA) 2021 hosted by the Olu of Warri, Ogiame Atuwatse III. The upstream regulator disclosed that only about 1.35 million barrels or 71 per cent of the 1.9 million barrels that Nigeria produces, all things being equal, gets to the crude oil export terminals due to massive theft and pipeline vandalism. Stressing that the challenge was hindering Nigeria from meeting her crude oil output capacity, Komolafe said out of about 141 million barrels of crude oil the country produced during the period, about nine million barrels were lost to crude oil theft. Given the prevailing price of an average of about $116 per barrel at the international crude oil market, and an official exchange rate of N415/$, the loss sums up to about N434 billion. “While the commission is prioritising efforts towards increasing oil and gas production and ensuring maximum economic recovery in Nigeria through the optimisation of oil and gas value chain, there have been challenges limiting the country from making the much-desired progress,” Komolafe lamented. Nigeria has under-produced for months now and it had been unable to meet the Organisation of Petroleum Exporting Countries (OPEC) quota. It also means that

the country has not able to reap the full benefits of the rising oil prices. The NUPRC boss lamented that the loss to oil theft could have been available for development of social projects like hospitals, schools, roads, provision of electricity and potable water, to improve the quality of life of the people. Beyond the loss in revenue, he said the sabotage of oil and gas facilities had resulted in additional remediation cost to the government as well as environmental degradation from oil spills. In addition, he listed soil and water pollution, threat to human life, source of livelihood, wildlife and marine life (fishes) and crops as some of the impacts of the increasing theft of Nigeria’s oil. These losses, he said, underscored the need for the government to optimise oil and gas resources development and production through the passage to law of the Petroleum Industry Bill (PIB) after more than 20 years. Komolafe said the enactment of the PIA opened new opportunities in the country’s oil and gas industry, with extensive provisions to foster sustainable prosperity of host communities and enhance peaceful and harmonious co-existence of oil companies with their host communities. Section 235 of the Act, he said, specifically provides for the incorporation of Host Communities Development Trust (HCDT)

by the Settlors (the oil and gas companies) for the benefit of the host communities. He noted that although the responsibility to set up HCDT and appoint the Board of Trustees was vested in the companies in consultation with the host communities, Section 247 of the Act requires the Board of Trustees (BoT) to set up a management committee to handle the general administration of the fund. In addition, he noted that the management committee was required to in turn, set up an advisory committee to advise on activities as well as monitor and report progress of projects in the community to the body. “The law provides that the host communities should be represented in the Board of Trustees, Management Committee and Advisory Committee, while Section 235(6) empowers the NUPRC to make regulations on the administration, guide and safeguard the utilisation of the trust fund and have the oversight responsibility for ensuring that the projects proposed by the Board of Trustees are implemented,” he noted. According to him, the commission has concluded arrangements to ensure the regulations guiding the implementation of the host community development fund under the PIA 2021 comes into effect before the end of June 2022. Komolafe said this would signal the commencement of a

seamless implementation of the host community development fund for the benefit of oil producing communities. He pledged that the commission would focus on working with the host communities and other stakeholders to ensure investments in the oil and gas sector are adequately protected, while ensuring the safety and sustainability of the environment. The chief executive said the commission was committed to ensuring that the three per cent deduction required from the Settlor’s annual operating expenditure (OPEX) was not short-changed and that funds were remitted in good time. He added: “We shall also ensure that projects and programmes proposed by the HCDT are implemented as well as ensure fair and adequate compensation for damaged environment and apply sanctions where necessary on defaulters.”

Sylva: Why International Oil Companies Are Leaving Nigeria

In a related development, Sylva has said IOCs were leaving Nigeria because the environment was becoming too volatile for their operations. In an interview with The Energy Year, a market intelligence organisation, Sylva stated that Nigeria’s situation had become, “precarious” because of the multitude of

challenges besetting the oil sector. The minister noted that while Nigeria was tackling the challenges, the damage being done by vandals was eroding investors’ confidence in the oil and gas industry. “Our biggest problem is the insecurity of our pipelines. There is a lot of pollution due to oil theft and pipeline vandalism, which has placed us in a precarious situation. It is one of the biggest reasons why IOCs leave Nigeria. “They (IOCs) feel that our industry is becoming too volatile and a significant polluter. The criminals who rupture our pipelines to set up illegal refineries which are not regulated are seriously damaging our environment. “It is our duty to ensure that we can tackle this issue, which is mainly a question of law and order rather than production. Once solved, all the production that has been lost will get to our tanks, while restoring investors’ confidence in Nigeria,” he said. According to the minister, while the goal was to restore Nigeria as the leading crude oil producer in Africa, if the country could tackle security and technical issues, it should be able to ramp up production to 2.6 million bpd, and in the long run, boost it to three million bpd. Describing fuel subsidies as, “the biggest impediment to the growth of the downstream sector,” Sylva stated that nobody wants to invest in an industry where they cannot

even recover their cost of production. On the projections for growth, Sylva noted that the Dangote Refinery would come on stream by the end of the year plus a significant number of modular refineries which are also coming on line as well as the rehabilitations of the refineries which are expected to boost local refining. “Once the subsidies are removed and these projects are operational, a golden period for the Nigerian downstream sector will begin,” he maintained. He reiterated that Nigeria has not been able to meet its production quota because it was finding it difficult to restart oil wells it shut down in the heat of the Covid-19 pandemic. “During the pandemic, OPEC asked us to bring down production because oil prices were at a historical low. Unfortunately, Nigerian reservoirs react in a particular way, and when you want to shut down 100,000 bpd, you end up shutting down 300,000 bpd to achieve the desired 100,000 bpd. As a consequence, the drop has been drastic,” he explained. He added that as a country, Nigeria was not taking full advantage of the high oil prices because production is not meeting expectations. “We are now in a very disturbing situation where we cannot meet our Continued on page 42

Okonjo-Iweala Calls for Global Solidarity in Crises Response Oluchi Chibuzor The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has called for global solidarity in responding to crises facing the world, especially the ongoing war between Russia and Ukraine. The DG in a statement issued by WTO yesterday, underlined the important role the global trade body could play in helping to tackle pressing issues such as growing food insecurity, the COVID-19 pandemic, climate change, supply chain disruptions and dwindling fisheries resources. It pointed out that at a Forum at the recently held World Economic Forum, the DG said a theme common to all the major crises

facing the world today was the fact that no single country would be able to resolve the challenges on its own. “You cannot have resilience unless you have global solidarity," she told participants. "It's survival together, it's supporting each other, it's financing together, it's recognising that my resilience cannot happen unless your resilience also happens." The DG reminded participants that world leaders created a set of institutions after the Second World War based on the idea of solidifying international interdependence and solidarity and using these institutions to help solve problems of the global commons. “We have the institutions, we just have not reformed them to

be able to deal with these issues, and my institution, the WTO, is one that I think needs to be made fit for purpose," she declared. According to the statement, the Director-General also participated in a discussion on challenges to trade with European Union Trade Commissioner, Valdis Dombrovskis and Indian Commerce Minister Piyush Goyal. During the discussion, the DG noted that at the MC12, the WTO members would be addressing many crisis issues. These, she said would include the WTO's response to the pandemic, both in terms of addressing trade and health measures, and of a waiver to WTO intellectual property rules for vaccine production; concluding more than two decades of

negotiations on an agreement to eliminate harmful fisheries subsidies; setting the path for future work on agricultural reform; and launching the process for discussions on WTO reform. “Members will also seek to address food security fears by looking at what steps can be taken to facilitate trade's central role in ensuring that food is available to those in need, while also addressing the concerns of producers regarding the need to ensure sufficient domestic supply. "It's very difficult to agree to things multilaterally, and that has been plaguing the WTO. We shouldn't make light of it. That's why we need to find ways forward to agree on some things to show that the organisation can

function," she added. Okonjo-Iweala also underlined the urgent need to address global warming and its impacts during a Forum discussion on climate change. She said climate change should not be sidelined as the world grapples with other immediate challenges. "The consequences of inaction are in front of us every day, on every continent, in so many countries," she added. "It's true that we're in a world of simultaneous crises, climate change, food, the pandemic, international security, but I don't think we can prioritize one over the other because they're all linked, they're all crises of the global commons."

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NEWS

ABIODUN MARKS 62... L-R: Ogun State Deputy Governor, Noimot Salako-Oyedele; daughter of the Governor, Lamisa Abiodun; Governor Dapo Abiodun and his wife, Bamidele Abiodun at the surprise 62nd Birthday of the governor organised by his cabinet members at the Presidential Lodge, Abeokuta... on Sunday

INEC Reacts to Election Guidelines Adjustment, Says It's Not Unilateral Explains PDP is the first beneficiary Chuks Okocha in Abuja In its first official reaction to the adjustment of the general election guidelines, the Independent National Electoral Commission (INEC), yesterday, said it did not act unilaterally or out of sync in adjusting the Timetable and Schedule of Activities for the conduct of the 2023 general election by a few days. The commission also took a swipe at the PDP, which has cancelled all its primary elections in Ebonyi State, saying, "Some of the political parties that criticised the commission despite being part of the pleas for a little adjustment are now taking advantage of and seizing the opportunity of the 6 days grace period or window they criticised to put their house in order by conducting their outstanding primaries." Speaking with THISDAY, the national commissioner in charge of Information and Chairman, Voter Education, Festus Okoye, said, "The Commission understands the mood of the nation and assures Nigerians that going forward, it is determined to follow through with its timelines embedded in the Timetable and Schedule of Activities for the 2023 general election. "The Commission is focused and determined to conduct free, fair and transparent election in 2023," Okoye added. According to him, the commission was resolute and would

not in any way tamper with the critical timelines in the Timetable and Schedule of Activities, adding: "The Commission did not act unilaterally or under any form of pressure or duress in the 6-day grace period granted to the 18 registered political parties. "It is on record that on May 10, 2022, the Commission held a consultative meeting with the leaders of all the 18 registered Political Parties. At the meeting, the political parties requested for an adjustment of the Timetable and Schedule of Activities for the conduct of the 2023 general election. “They requested for 60 days and the Commission turned it down. Thereafter, the political parties requested for a shift of 37 days and the commission turned it down. "At the consultative meeting, where the parties made the request, some of them accused the Commission of endangering democracy by refusing to alter the Timetable and Schedule of Activities. They insisted that they may not have candidates in so many of the constituencies unless they are given a grace period. "Of course, the period for the primaries had started as at the time the political parties unanimously made the request. By the Timetable and Schedule of Activities, the period for the primaries commenced on the 4th of April 2022 and to end on the 3rd of June 2022. None of the Political Parties accused the

Commission of shifting the goal post at the middle of the game. "On the 12th of May 2022, the political parties wrote to the Commission once again requesting for an adjustment of the timelines and the Commission turned down their request. None of the political parties accused IPAC of acting unilaterally or not representing them. "On the 26th of May 2022, the political parties under the auspices of the Inter Party Advisory Council, wrote to the Commission and requested for a meeting to hold on the 27th day of May 2022. IPAC invited their members to the meeting. 15 of the registered Political Parties attended the meeting.

The membership status of the newly elected governorship candidate of the All Progressives Congress (APC) in Abia State, Chief Ikechi Emenike and his loyalty to the ruling party has never been in doubt, the State’s Chairman of Abia APC, Dr. Kingsley Ononogbu has said. He stated this in his reaction to, "a restraining order" issued by an Abia State High Court sitting in Umuahia after the governorship primary had been concluded. The suit was filed by some aggrieved party members in a bid to stop the primary and disqualify Emenike's candidacy on the ground that he had been, "on suspension."

However, a court judgment made available to the media showed that the purported suspension of the Abia APC leader was quashed last November by an Umuahia High Court sitting in Umunneochi. Abia APC faithful were therefore taken aback when a court of concurrent jurisdiction decided to delve into a fresh suit and even issued an order in a matter already decided by another court. Emenike, Ejike Olekanma and Ikenna Emmanuel Anyalewechi had gone to court asking for the nullification of the purported suspension announced at a "kangaroo meeting of the aggrieved" held at Ikwuano in August last year. Joined as defendants in the suit were APC, then Catetaker

He explained that instead of 37 to 60 days, the political parties pleaded for only six days between the 3rd June and the commencement of the upload of nomination forms on our web portal on 10th June 2022. "It is, therefore, not true and cannot by any stretch of imagination be insinuated that the commission bowed to pressure. The commission granted a request and headed the plea by all the political parties in Nigeria to use the six days already provided in the Timetable of which all the parties were aware of. "A passionate plea by political parties for what they called a little adjustment cannot by any stretch of imagination be termed bowing

to pressure. Furthermore, the six days grace period extended to the political parties will not in any way affect any of the timelines in the Timetable and Schedule of Activities of the Commission. "There is no longer any window to play with or any little adjustment to be made. Political parties may find out to their disappointment that they may have no candidates in constituencies, where they are unable to conduct or conclude their congresses and democratic primaries as provided by the Electoral Act 2020. We remind all Political Parties of what happened in some States (Rivers and Zamfara) in 2019," Okoye said.

Moghalu: Alleged $35,000 Bribes for Party Delegates Dangerous Omen for 2023 Says Nigeria needs 21st century president

Emmanuel Addeh in Abuja A Presidential Aspirant on the platform of the African Democratic Congress (ADC), Prof. Kingsley Moghalu, yesterday said doling out $35,000 allegedly to party delegates to sway their votes was a bad omen for the 2023 general elections. In a statement, the former Deputy Governor of the Central

APC: It's Ridiculous to Question Membership Status of Party’s Abia Guber Candidate, Says Chairman Emmanuel Ugwu-Nwogo in Umuahia

“At the meeting of the 27th May 2022, they informed the Commission that they used their own network to invite all the registered political parties. They once again requested for an adjustment of the timelines on grounds that they have problems. "They pleaded and canvassed that the Electoral Act 2022 was being operated for the first time and that most of them have made mistakes in the conduct of their primaries. They pleaded with the Commission to show some magnanimity to enable them have crisis-free primaries and avoid avoidable litigation," the INEC national commissioner stated.

Chairman, Mai Mala Buni (for himself and member of the Caretaker Extraordinary Convention Planning Committee), and Wilson Chimelulam Utaegbulam. In its judgment delivered on November 4, 2021, in the Suit No: HUM/41/2021, the court presided over by Justice Benson Anya, had held that Emenike, who then was the Secretary of APC Contact and Strategy Committee, "is an authentic and bona-fide member of APC." The court held that the defendants had admitted that the claimants were authentic members of APC having failed to file a counter affidavit to challenge the deposition contained in the 22 paragraph affidavit and four exhibits filed by the claimants.

Bank of Nigeria (CBN), explained that what Nigeria needs a modern, 21st century president instead of persons who just want to fulfill their lifetime ambitions, arguing that the presidency is a unique job, not a mere political promotion or an entitlement. In 2023, he said with Nigeria’s present national crisis, its people should elect a president that would fix the economy, unite its diverse peoples, secure its territory and people, and restore its standing in the world. “The desperation of politicians in the 2023 presidential election cycle gives cause for alarm. From N100 million presidential nomination forms to $35,000 delegate bribes and INEC’s shifting of the deadline for primaries, seemingly to accommodate the political party in power today, there are dangerous omens. “It is up to us as Nigerians to decide if we will be fooled again in 2023. To make real progress, we must break from the past. We must now elect leaders who offer us a clear, coherent vision, competence, and a plan,” he stated. As an aspirant for the responsibility of president of Nigeria in 2023, on the platform of the ADC, he stated that he was offering the country a clear vision and plan, articulated in his book “Build, Innovate and Grow (BIG).” “The high office of president of

Nigeria is a job, not an entitlement based on the number of years a candidate has spent in politics or merely on personal ambition. “In 2023 Nigerians should elect a candidate who has the competences, experience and performance track record that is directly relevant to the job,” he noted. According to him, the core functions of the president of Nigeria are: nation-building, which involves managing diversity, building a united nation, and building strong institutions). In addition, he listed national security, economy as well as foreign affairs and international diplomacy as some other functions the president much carry out. Based on the requirements, he stressed that he remained the man for the job, with an excellent worldview, having been a United Nations official for 17 years in New York, Cambodia, Croatia, Rwanda, and Switzerland. He said he led resource mobilisation and the building of global partnerships for the Geneva-based institution, $20 billion Global Fund to Fight AIDS, Tuberculosis and Malaria that has made social investments to support health systems and save lives in 140 countries, including Nigeria. As the founder and CEO of a global investment advisory firm in

the private sector, he maintained that he advised and guided major foreign investors into Nigeria and other African countries. As a Deputy Governor of the CBN from 2009 to 2014, Moghalu stated that he led the execution of extensive reforms that saved the Nigerian financial system from collapse after the global financial crisis of 2008. “I also led the team that developed and introduced the Bank Verification Number (BVN) which now serves nearly 50 million Nigerians in the banking system. “My team and I facilitated the introduction of Non-Interest (Islamic) Banking that advanced financial inclusion, as well as the digitalisation of the payment system that made it possible for nearly 100 million Nigerians to make and receive payments on their mobile phones. “As a member of the Monetary Policy Committee of the CBN, I played an active leadership role, with other colleagues, in economic policy making that successfully crashed inflation from double digits to a single digit of 8 per cent by 2014,” he stated. According to him, his team managed foreign exchange policy successfully, with the naira exchanging to the dollar at a rate in the range of N150-N165 to $1 during his tenure in office.

TUESDAY MAY 31, 2022 • T H I S D AY

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NEWS

BUHARI RECEIVES APC KATSINA GOVERNORSHIP CANDIDATE... L-R: Katsina State Governor, Rt Hon Aminu Bello Masari, President Muhammadu Buhari, and APC Katsina Governorship Candidate, Dr Dikko Radda, during the introduction of the State Party PHOTO: SUNDAY AGHAEZE Candidate for the forthcoming 2023 Governorship election at the State House Abuja... yesterday

In Fresh Video, Abducted Abuja -Kaduna Train Passengers Again Plead for FG’s Rescue John Shiklam in Kaduna One of the abducted victims of the March 28, Abuja- Kaduna train attack, Sadiq Ango Abdullahi, has appealed to the federal government

to do everything possible to rescue them as their health condition was deteriorating. Sadiq who is the son of the Convener of Northern Elders Forum (NEF), Prof. Ango Abdul-

lahi, alongside seven others, made the appeal in a fresh video clip being circulated on the social media yesterday. “We are appealing to the federal government to once again come

to our aid. We have been here for 62 days. “Most of us here are sick and we are not in good condition and every day the situation deteriorates. “We are appealing to the federal

government to please come to our aid before we start losing our lives”, he said in the video. One of the victims who said the Vice President, Prof. Yemi Osinbajo was her classmate at the Nigerian

Edo Govt, APC Trade Words over Land Grabbing Adibe Emenyonu in Benin City The Edo State chapter of the All Progressives Congress (APC) and the State Government yesterday engaged in verbal war over the latter's summoning of church leaders to a meeting at the Government House, Benin City, where Governor Godwin Obaseki told them that he has declared a war on land grabbing. The governor reportedly told the clergymen that the war against land grabbing was his government's move to ensure a safe and conducive environment for Edo people to live and do business without harassment and extortion. A statement by the Governor’s Special Adviser on Media Project, Crusoe Osagie said: The attention of the Edo State Government has been drawn to a statement by the APC in Edo State, condemning the state’s aggressive effort against land-grabbers and other non-state actors responsible for disrupting land administration in the state. “The tirade is not unexpected from the APC in the state, which thrives in lawlessness and disorder and sees nothing gainful in cleaning up a defective and unlawful system that empowered thugs and miscreants, who had hitherto intimidated and fleeced unsuspecting citizens in land and related transactions. “The APC had been in bed with elements in communities particularly the now defunct Community Development Associations (CDAs) who trade in terror to intimidate, cow and dispossess people of their landed property, fermenting trouble that had scared investors from our state and discouraged many Edo sons and daughters especially in diaspora from investing in the state until recently.” The statement added: “Given their peculiar mode of operation, these non-state actors were also known as ‘lions and tigers’ and were as vicious as they were deadly. They amassed a lot of money and influence from their activities, spreading terror and fear. It is these set of persons that the APC is making a case for in their infantile media release. “Where was Edo APC when the state government increased the minimum wage in Edo State

from N30,000 to N40,000 and harmonised the pay of pensioners in the state? Is the impact of this landmark initiative not felt by a lot more people in the state? Why didn’t they speak up at the time this feat was recorded? “On the charge for the state government to deploy its assets to check banditry and herdsmen attacks, the Edo APC is obviously playing the ostrich. In case they have forgotten, I would like to remind them that the federal government – which is controlled by their party, the APC – is constitutionally empowered to address issues of national security. “The APC-controlled federal government is in charge of the machinery of state to fight off banditry and herdsmen/farmer clashes. They control the Civil Defense, Nigerian Army, Department of State Services, Nigeria Intelligence Agency and the Nigeria Police Force. Hence, the criticism should be directed at their party at the national level.” But the APC in a statement

signed by its State Assistant Publicity Secretary, Victor Osehobo, yesterday, said Edo people know for a fact that the reason why land grabbing had being a major challenge in the state was because the Obaseki government was the biggest culprit. "As it were, over time, the government has perfected a policy of grabbing peoples land by demolishing their houses and seizing their plots and in many cases claiming them as government plots. In the process, the state government has earned itself myriads of litigations, which could have been avoided ab initio. "At a time, the Obaseki government contemplated grabbing the lands belonging to these same church organisations and even attempted to relocate many of them over a spurious land use plan. “Now he wants these same bodies, which are duly registered to apply for fresh registration with his government by presenting building plans,” it added.

The APC contended that, "It smacks of cluelessness for Obaseki to announce that he has declared war on land grabbing. What Edo people expected him to declare a war on and long before now was the activities of rampaging criminal herdsmen, kidnappers and bandits, that have been busy terrorising highways across the state. "This is the same Governor Obaseki who could not declare a war in January, when scores of persons, dressed in military uniform and suspected to be herdsmen invaded several farming communities in Ovia North-east Local Government Area of Edo State, chased all the villagers away and took control of their farms, homes and properties. "Mr Obaseki did not also declare a war when last month, more than five persons and several others were maimed as suspected criminal herdsmen attacked Odiguetue, among other agrarian communities in the same Ovia North-East Local

Government Area of Edo State. "Indeed, Governor Obaseki was really busy, politicking, and absent from the state, else he would have known that over 45 communities, including Odiguetue, Ofintebe, Igolo, Okokuo, Abumwenre I and II, Obarenren, Uhiere, Uyimo I and II, all in Ovia Northeast Local government, protested the activities of herdsmen which resulted in killings, destructions of farm produce and forceful evictions from their ancestral homes, by barricading the Lagos - Benin Expressway for hours. "Is there any wisdom in hounding church leaders about the Obaseki government's scam of a Benin master plan? Why his choice of church leaders, if not to garner primitive sympathy? Is it not tragic that Mr Obaseki has just woken up, after six years in office and discovered the Benin master plan? Is this not the same plan his predecessor in office strived to implement to the letter but which he chose to abandon since 2016?"

Law School, broke down in tears as she attempted to speak. The woman who gave her name as Gladys, said her son suffers from sickle cell anaemia and called on the federal government to rescue them. She added, "my name is Gladys. I am pleading particularly to Professor Yemi Osinbajo who was my class mate 78/79 Law School. “You are a grandfather and a father; come to our aid because we have been here for 62 days and I have a son who is a sickler; I don’t know his condition now. “I am pleading that the federal government and Rotimi Amaechi who is the minister of transportation to please come to our assistance. “I am pleading. We are all sick, right now I am even sick too. But for my son who is a sickler, I don’t know his condition. I am appealing to the federal government,” she managed to speak amid tears The terrorists, had last week, threatened to start killing the victims if the federal government does not need their demands. In the new video, a masked terrorist carrying an AK 47 , was seen giving instructions to the captives, the men kneeling and the women sitting on a mat.

Forum Slams PTDF over Exclusion of Southeast from Overseas Scholarship Interviews Says North-west, North-east not safer than South-east Ndubuisi Francis in Abuja The Abia Media Forum (AMF) has berated the Petroleum Technology Development Fund (PTDF) over the exclusion of the South-east in its overseas scholarship interview, citing security concerns. The group described PTDF's action as not only insulting, but unjust, wondering what qualified Kaduna which had been the hotbed of terrorism for such an exercise while no city in the entire south-east was considered safe enough for the same exercise. The PTDF recently shortlisted 8,800 candidates for the 2022 Overseas Scholarship Scheme (OSS) from a pool of over 26 000 applicants. The Manager of the OSS, Bello

Mustapha, said the process which started in December 2021, would see the shortlisted candidates interviewed across centres in Abuja, Port Harcourt, Ibadan, Kaduna and Bauchi, citing security concerns for the exclusion of the South-East. He had said: “We conducted the interviews in the six geopolitical zones of the country, but we are doing in five geopolitical zones of the country this year because of the issues of insecurity in the south-east.” The PTDF official had explained that due to insecurity in the region, candidates in the south-east were advised to pick centres outside the region to enable them participate in the interview process. Reacting to the development, the AMF, a think-tank of top serving

and retired media practitioners of Abia State extraction called on the PTDF to immediately reverse itself and stop the exclusion of the geopolitical zone from what rightly belongs to them. In a statement jointly signed by its chairman, Ben Okezie and Secretary, Kelechi Ogbamgba, the group urged Nigerians of good conscience to join it in asking the PTDF to stop its injustice and insult to the people of the South-east. The group pointedly told the PTDF to shorn itself of injustice and insult to the people of the zone and go to the region to do its interviews just as it did for other regions. The AMF said it considered the PTDF claim that the North-west and the North-east are more secure

than the South-east as ridiculous, adding that it flies in the face of Nigeria’s current history. The statement read: "The Abia Media Forum calls on Nigerians of good conscience to join us in our request that the PTDF stops its injustice and insult to the people of the South-east excluded from the lucrative PTDF scholarships and come to the region to do its interviews as it did for other regions. "The PTDF shocked rational and fair-minded Nigerians last week with its claim that it could not hold interviews for its scholarships in the South-east but did so successfully in the North-east and North-west. "PTDF instead offers persons from the South-east the opportunity

to attend those interviews outside their geopolitical zone. The Abia Media Forum is convinced that the PTDF can and should rise to the constitutional and professional obligation to treat all sections of the country fairly and equitably. "The Abia Media Forum invites PTDF management to apply Section 2 of the Nigerian Constitution which directs all agencies of government to enforce the Fundamental Objectives and Directive Principles of State Policy. In this case, PTDF must ensure via sub-section 10 that, ‘There should not be any discrimination on the grounds of place of origin, sex (gender), religion, status, ethnic or linguistic ties.’ Continued online

TUESDAY MAY 31, 2022 • T H I S D AY

TUESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

TEN SOUTHERN PDP GOVERNORS GANGED UP AGAINST ME, WIKE ALLEGES Party (PDP) presidential ticket sent a strong message to the north, stressing that never again would anyone underestimate the capacity of the south to secure the country's presidency. Wike spoke in Port Harcourt, in his first public comments on the PDP presidential convention at the weekend in Abuja, where he lost the presidential ticket to former Vice President Atiku Abubakar. The governor made the assertions at a reception in Port Harcourt organised by the people of his state to welcome him back from the PDP convention in Abuja. He said he told the PDP presidential candidate, Atiku, that many of the people around him had no electoral value to deliver their states, but vowed to deliver PDP in 2023. The governor’s comments came as Atiku, yesterday, commenced a reconciliatory move to try to get the other presidential aspirants, who contested the PDP ticket with him at last Saturday’s nomination convention, to close ranks behind him for the party’s success in 2023. Atiku had earlier met with Wike, former President of the Senate, Dr. Bukola Saraki, and former Secretary to the Government of the Federation (SGF), Anyim Pius Anyim, in Abuja in what he described as a "continuation of my commitment to bring everyone on board in ensuring that the PDP stands as one united party." Declaring that it is a "continuous process," a post stamped AA read on his official Facebook page. Similarly, the PDP Board of Trustees (BoT), the governor of Benue State, Samuel Ortom, and a senatorial candidate from Delta State, Ned Nwoko, yesterday, congratulated Atiku on his election at the presidential convention on Saturday. But Wike, who spoke extensively on what happened at the convention on Saturday, said it was disheartening that some governors from the south could jettison the collective interest of the people they claimed to represent due to their inordinate ambitions. He added that it was the agreement by the southern governors that the presidency should come to the south that motivated his presidential aspiration. The Rivers governor described as shameful the inability of some of those, who were part of the agreement, to stick to the deal when it mattered, accusing them of betrayal. Wike stated, "I contested in an election (primary) based on the principle and agreement with all southern governors and leaders

of the south that the presidency should go to the south this period. "We have done our part. We never betrayed anybody, because it is not in our blood to betray. But it is a shame to those people, some of the governors from the south; they were the people used to sabotage our course. “Look at a region ganged up, then you, your own region cannot gang up. You became tools to be used against the interest of your people, and you think you have won? You have lost! You will continue to be perpetual slaves. Rivers people, you don’t need to bother yourselves. PDP needs us. If they say they don’t need us, they should wait." Wike explained that his motivation in the presidential race was to offer service and advance the interest of Nigeria. He said, "The winner (of the ticket) also saw it. They underrated us, but now, they will not underrate us again. We have all it takes to do whatever we want to do. It is a matter of you being firm; it is a matter of you being hopeful. There is nobody that is born greater than us in this country; therefore, we cannot answer second-class citizens. We can’t. “We just used this one to tell them that enough is enough. We made them not to sleep. We made them not to eat. We made all of them from wherever they said they came from to know that there is somebody, who can take them on. This country does not belong to one particular zone. If people are afraid of talking, it is their business. I cannot be a second-class citizen in my country. “Some of them, their in-laws are governors in the ruling party, but they want to interfere in what happens in PDP. Some of them their brothers are governors in the ruling party and they want to interfere in PDP.” However, Wike said with the presidential primary over, and given his pledge to work for whoever emerged PDP ticket holder, Rivers State would work to deliver PDP and all its candidates in the 2023 general election. He recalled that in 2019, despite the failure of the presidential candidate he supported to clinch the ticket, Rivers State gave PDP massive votes and refused to negotiate with the All Progressives Congress (PDP) to give them 25 per cent of the votes. Wike said, “In 2019, I was the only governor from the South-south, who never negotiated with the present government. They came, I said no, I was not going to be

party to that. And that is why APC never had 25 per cent in this state. “But in all the other states in the South-south, the president got 35 per cent to 40 per cent. I said I was not going to sit down with them and negotiate.” The governor said he had told Atiku that many of those hanging around him did not have electoral value, advising all members – whether in the north or south – to deliver the kind of votes Rivers State would deliver in the 2023 general election in order for PDP to win the presidency. He also said it was wrong for the party to have allowed the governor of Sokoto State, Aminu Tambuwal, to speak for a second time after the time allotted to each of the aspirants to address the delegates. Meanwhile, Atiku first visited Tambuwal at his Abuja residence on Sunday, to thank him for the role he played in the outcome of the convention. Tambuwal had on Saturday, at the PDP convention, announced he was stepping down for Atiku, a move many believed swayed the votes in favour of the former vice president. National Chairman of the party, Dr. Iyorchia Ayu, also visited Tambuwal to appreciate him for his role, saying, “you’re the hero of the convention.” Some, however, believed Tambuwal’s withdrawal from the race was actually a smart move, which had no defining effect on the emergence of Atiku. Atiku continued with the reconciliation process on Monday, when he visited his closest rivals, Wike, Saraki, and Anyim. During his visit to Wike, the former vice president was accompanied by National Vice Chairman of PDP, Dan Orbih; former Minister of Police Affairs, Adamu Waziri; and former governor of Ekiti State, Ayodele Fayose, among others. The meeting took place in Wike’s private residence in Maitama, Abuja,

among others. He was screened at 8:20 pm, while Sanwo-Olu left at the time the committee was about to screen Tinubu. Tinubu left Transcorp at 8:56pm but refused to grant interview to journalists, who had laid siege to him. But speaking with journalists, Pastor Tunde Bakare said he would not challenge the authority of the party if he was asked to step down for the party to come up with a consensus arrangement, because the party was supreme. Bakare stated, "The party supremacy is the utmost essence. You cannot force your way through a party’s structure. The party has the final say. And when we get to that bridge, we will know how to cross it. "The screening exercise is to check who is guilty and who is not. And it depends on the people, who are doing the screening. By God's grace, we have complied with everything demanded for. We have supplied every information. "And every information given is accurate and there is no miscommunication anywhere. Therefore, we will listen to what they have to say to us. And we trust God for accurate answers and deserving answers to all questions." On her part, the only female aspirant, Ken-Ohaneye, also said she would step down if the party asked her to do so, provided the party would be willing to carry on with her economic blueprints. Ken-Ohaneye said, "I want you to know that we are a family

Board of Trustees (BoT), Senator Walid Jubrin, said the election of Atiku as the presidential candidate was a big success for the party and a good omen for all Nigerians. According to him, "Atiku's success at the recently concluded PDP primaries has opened a good way for all Nigerians, when it comes to 2023 general election, to elect a Nigerian president. "We must remember that Atiku was earlier elected at PDP primaries at Port Harcourt in 2019 but was nakedly sabotaged by APC through an unholy way. We must remember the good performance of Atiku as vice president to President Olusegun Obasanjo, our party must be fully congratulated for playing a good role and, of course, all our delegates across the 36 states and the FCT." The BoT chairman also congratulated Senator David Mark and his committee for organising one of the best electoral national conventions after the Port Harcourt convention chaired by Governor Okowa of Delta State in 2019. Jubrin stated, "My advice as the PDP BoT chairman, the conscience of the party, is that we must come together as one entity fully together as one party, talking with one voice to make our party greatest, not only in Nigeria, West Africa, but the greatest in Africa with no differences in tribe, section or religion. "Atiku would be Nigerian president and never a tribal or any religious president. Finally, the BoT will assist the party and, surely, the Waziri Adamawa himself to come out with very a acceptable vice president from southern Nigeria." Ortom, while congratulating Atiku, in a statement by his Chief Press Secretary, Nathaniel Ikyur, said, "In John 3.27, the Bible says, ‘A man can receive nothing except it's given to him from above’. “So, for the benefit of all Nigerians for whom we strive to make society better, let us now come together under the leadership of the party and be focused to dislodge the APC, who has destroyed the

very essence of our nationhood, by winning the 2023 general election to restore the dignity of Nigerians, both at home and in the Diaspora. “Let me on behalf of myself, the government and people of Benue State, heartily congratulate His Excellency, Atiku Abubakar, the former Vice President of the Federal Republic of Nigeria, on his nomination as the presidential candidate of our great party, the Peoples Democratic Party (PDP), for the 2023 general election. "I believe that with your experience and goodwill across all facets of this nation, your election as the standard bearer of the PDP is a clear indication that our party has begun the historic journey back to power in 2023. "I'm confident that you will put forward your election to restore security in every nook and cranny of the country, revive our collapsed economy, and bring back Nigeria's dignity, where the sanctity of human lives of all Nigerian citizens will be respected. This will also make the social life of every Nigerian much more meaningful as you will rescue Nigeria from bottom to top." On his part, Delta North PDP senatorial candidate, Nwoko, said Atiku’s victory at the convention reflected the choice of the delegates and will of God. Nwoko, in a press statement, said the former vice president earned the victory. He said, “PDP got it right. The hitch-free conduct of the presidential primary should be instructive to other political parties. I found the election transparent and credible. “My belief is that only an electoral process staged without rancour can guarantee popular democracy and enthrone lasting peace, unity and progress in the Nigerian polity. “As we approach the 2023 general election, our creed as the political class must defer to strict democratic principles of rule of law, fairness and people-centred motivations for orderliness in our nation.”

FUEL SUBSIDY MAY HIT N6TRN IN 2022, IMF WARNS NIGERIA He also revealed that Nigeria received a total of $6.8 billion facilities from the IMF following the outbreak of the COVID-19 pandemic in 2020. According to him, Nigeria received $3.4 billion in Special Drawing Rights (SDR) and as well as a loan in the same amount. The IMF chief expressed worry that many African countries, including Nigeria risk sliding into critical debt servicing problem unless urgent actions were explored to significantly raise revenue.

APC SCREENS TINUBU, AMOSUN, AMAECHI, BADARU, NWAJUIBA, SIX OTHERS (APC) Presidential Screening Committee, yesterday, screened 11 of the party’s 23 presidential hopefuls, ahead of the primary election scheduled to take place between June 6 and 8 at Eagles Square, Abuja. The exercise commenced shortly after the committee’s inauguration. The inauguration of the sevenman screening committee, chaired by former National Chairman of APC, Chief John Oyegun, took place at Transcorp Hilton, Abuja, with journalists barred from covering the event and the screening. Those screened yesterday included former Lagos State governor, Bola Tinubu; former governor of Ogun State, Ibikunle Amosun; former Minister of Transportation, Chibuike Amaechi; Jigawa State Governor Abubakar Badaru; and former Minister of State for Education, Chukwuemeka Nwajiuba. Others also screened were Ebonyi State Governor Dave Umahi, Felix Nicholas, Senator Ajayi Borroffice, former Senate President Ken Nnamani, Mrs. Uju Ken-Ohaneye, and former Governor of Zamfara State, Sani Yerima. The screening, which ought to have been done last Monday, started yesterday and was scheduled to end today, with Vice President Yemi Osinbajo, Governor Kayode Fayemi of Ekiti State, and others on standby for today’s exercise. Tinubu, who arrived the venue at 5:50pm, was accompanied by Hon. James Faleke and Governor of Lagos State, Babajide Sanwo-Olu,

where he received Atiku and his associates, Senator Olaka Nwogu, among others. A source privy to the meeting said Atiku pleaded with Wike to work with him for the purpose of rescuing the country, regardless of the outcome of the primary, which saw Wike polling 237 votes to come second. “In continuation of my commitment to bring everyone on board in ensuring that the PDP stands as one united party, earlier today, I visited His Excellency, Governor Nyseom Wike, at his Abuja residence. This is a continuous process,” Atiku said. Atiku arrived the private residence of Saraki about 3.05pm and the duo went into discussion. A post by the presidential hopeful said the visits were to seek the cooperation of all the presidential aspirants in the journey to rescue Nigeria. In his own twitter post, Saraki thanked all the delegates and his supporters, saying, "I thank all our friends and supporters across the nation for keying into our vision to provide #RealSolutions and #FixNigeria! "I congratulate the winner of tonight’s #PDPPresidentialPrimary, His Excellency, our former vice president, Alhaji Atiku Abubakar, on his emergence as the presidential flag-bearer of our party. "As we prepare for the future, I am proud that our message of #RealSolutions and deliberate leadership has resonated with millions of young Nigerians across the nation. Now, we must all rally round all our candidates across the nation to fix our economy, curb the insecurity, and put an end to the rising cost of living." Though the outcomes of the meetings were not made public, a party source hinted that the PDP presidential candidate, who also visited Anyim, would later move to meet the Akwa Ibom State governor, Emmanuel Udoh. Meanwhile, chairman of the PDP

politically, and if I am asked by the party to step down, I will not challenge the party, because, like they say, charity begins at home. "I will never see it as a problem to my party, because I am going to respect them. I am going to do whatever it takes to promote my party and make them relax so that they can make a better decision. "So, if their decision is to ask me to step down, I will not have choice than to step down. As long as they can carry over my blueprints on board, definitely, I will respect my party." She disclosed that the approach deployed by the screening committee was a huge incentive for her, as she was more relaxed in responding to questions and the conversation was very frank and straight to the point. Other presidential aspirants to be screened today are Governor of Cross Rivers State, Professor Ben Ayade; President of the Senate, Dr. Ahmed Lawan; Kogi State Governor Yahaya Bello; Mr. Tein Jack-Rich; former Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu; former Minister of Information, Chief Ikeobasi Mokelu; former Speaker of House of Representatives, Hon. Dimeji Bankole; former Minister of Niger Delta Affairs, Senator Godswill Akpabio, and former governor of Imo State, Senator Rochas Okorocha (if allowed to attend from his detention by the Economic and Financial Crimes Commission, EFCC).

Aisen noted that over 80 per cent of the federal government's revenue was committed to debt service, a situation he described as an “existential problem” “It is a reflection of low revenue. It is an existential issue for Nigeria. It is essential for macro-economic stability. It is important for the provision for social service,” he said. Further x-raying the fiscal challenges, he regretted that as an oil exporter, Nigeria was not only unable to take advantage of the current global high oil prices to build reserves, but also confronted by low earnings due to the subsidy on petroleum products. With N500 billion monthly fuel subsidy payouts, he noted that the country might end up with a record N6 trillion subsidy at by year-end. However, he raised optimism that the Dangote Refinery would reduce fuel importation when completed, thereby cutting down the subsidy burden. Speaking on the economic outlook for the continent, the IMF official identified key priority areas as how to reduce debt vulnerabilities, balance inflation and growth; and manage foreign exchange rate pressures. Aisen stated: “Unrivalled potential for renewable energy and an abundance of minerals, a successful transition offers opportunities for diversification and job creation; ensuring the green transition is also a just transition.” He also noted that fragile and conflict-affected African countries were at the risk of falling further behind in terms of development, especially now that the world economy was faced with an unprecedented high energy and food prices. The Fund, he stressed, had done a lot to help to Sub-Saharan African countries, having given them the $23 billion Special Drawing Rights allocation and planning to re-channel additional $100 billion SDR from developed countries. According to him, Africa needed $425 billion to recover from the COVID-19 pandemic. This was in addition to between $30 and $50 billion per year for climate adaptation and $6-10 billion annually

for commodity import. Aisen further said: “I think the biggest critical aspect for Nigeria is that we have done a macro-fiscal stress test, and what you observe is the interest payments as a share of revenue and as you see us in terms of the baseline from the federal government of Nigeria, the revenue almost 100 per cent is projected by 2026 to be taken by debt service. “So, the fiscal space or the amount of revenues that will be needed and this without considering any shock is that most of the revenues of the federal government are now in fact 89 per cent and it will continue if nothing is done to be taken by debt service. “It is a reflection of the low revenue of the country. The country needs to mobilise more revenue to be able to have macroeconomic stability. It has become an existential issue for Nigeria. “The war in Europe is hunger in Sub-Saharan Africa and Africa. So, I think we should pay very close attention to this issue.” He added: “In Sub Saharan Africa, Russia and Ukraine are first and the fifth major sources of wheat imports to Sub-Saharan Africa. “So clearly having this conflict is the epicenter of the wheat-producing countries being hurt, which puts as we said, a big premium on the price of wheat. And it is especially complicated in Sub-Saharan Africa where we have 57 per cent of the population on moderate or severe food insecurity and this is extremely concerning for the IMF because after two years of the pandemic on top of these people already suffering, you have this extra shock affecting the price of basic food items in an already very vulnerable population is something of great concern to us.” Furthermore, he advised Nigeria to in the short-term to prioritise its debt, inflation, growth and foreign exchange management. In his contribution, the DirectorGeneral of the Budget Office, Mr. Ben Akabueze, who disagreed with Aisen on Nigeria’s debt service/ revenue figures, put debt service/ revenue at 76 per cent. He admitted that even at that

level, it was way far too high, adding: “There is no doubt that the debt servicing –revenue is way beyond what we want it to be,” adding that the federal government had taken steps to significantly increase revenue. Akabueze stressed that additional revenue was the only choice before the government, assuring that the nation would not default in its debt service obligations. He expressed regret that vested interests had made the removal of petrol subsidy very difficult over the years. “When you try to remove subsidy or raise tariffs, you get summons, you see resolutions get passed, asking you not to,” he said According to Akabueze, when the executive arm of government prepared the 2022 budget, it was with the understanding that the petrol subsidy would be removed but that somehow, that move was frustrated. In his remarks, the Director of Policy at the Central Bank of Nigeria, Dr. Hassan Mahmoud explained that the recent upward adjustment of the Monetary Policy Rate (MPR) was to ensure an environment in which the nation could still attract investors and to prevent capital outflows that could hurt the nation’s economy. The United Nations Resident and Humanitarian Coordinator in Nigeria, Mr. Matthias Schmale, agreed with the food insecurity raised by the IMF representative, saying there was an urgent need to increase social safety net for the vulnerable population. He said: “By the way, our own analysis is that they are already 15 million people in acute need of food support in the country and that was before the Ukraine-Russia conflict and our prognosis right now is that this may rise to 19.5 million. “Basically, all the 80 million who live below the poverty line in Nigeria are food insecure. So, the currently almost 50 million need help now. If we want to avoid serious damage to the house, and serious hunger, I mean, a few weeks or months. So there needs to be an element of social protection and direct support to these people.”

TUESDAY MAY 31, 2022 • T H I S D AY

TUESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

DINNER WITH THE TOP TRAVEL INDUSTRY PLAYERS... L-R; Chairman, Business Travel Management, Mr Olufemi Adefope; Executive Director,Tour Brokers International, Mrs Odion Chigbufue; Emirates Country Manager, Nigeria, Mr Paulos Legesse; Managing Director, Super International Travels, Mrs Mobisola Shobayo; Senior Vice President, Commercial Operations, Emirates Africa , Mr Badr Abbas and Chief Commercial Oﬃcer, Wakanow.com, Mrs Adenike Macaulay, during a dinner with the PHOTO: ABIODUN AJALA top travel industry players by the visiting emirates senior vice president in Lagos...recently

After Emerging LP’s Presidential Candidate, Obi Says Emancipation of Nigeria Has Begun Declares Nigeria may be hijacked by forces of retrogression Adedayo Akinwale in Abuja A former governor of Anambra State, Mr. Peter Obi, yesterday, emerged the presidential candidate of Labour Party (LP) and immediately declared that the emancipation of Nigeria has begun with his emergence. Obi, who spoke while delivering his acceptance speech after he emerged as the party's candidate at the primaries held in Delta State, said Nigerians remained hopeful for a national rebirth, which implied returning Nigeria to Nigerians – farmers, teachers and students, lecturers, artisans, workers, pensioners and over a hundred million poor Nigerians, who were not sure where their next meal would come from. The Peoples Democratic Party (PDP) vice presidential candidate in the 2019 elections, said, the journey was going to be a collective one and would certainly require the cooperation of critical stakeholders in the country, especially, the youth, whose future has been thoroughly degraded. "Painfully, the current dysfunctional system rewards unearned income and conspicuous consumption allows university lecturers to remain on strike for months; keep our youths at home and owes pensioners, who gave their patriotic sweat and their youthful energy to serve this country. "The despicable contrast is that

those responsible for the mess – those elected to take care of them – have abandoned the national currency and are living in opulence and like kings, spend dollars to buy delegates as well as houses all over the world. Meanwhile, they owe most workers, lecturers and retirees. "Yes, our country stands hijacked by forces of retrogression. We are almost zero in all indices of development. As a result, our future, especially, those of the youth and generations unborn, is in ruins. We have become a laughing stock among other nations, including African countries, where we were once revered," he said. Obi stressed that his governance mission would be twin-tracked, and would aim at securing Nigeria in every ramification: national security, human security, food security and tackling insecurity created by unemployment. He added: "As a party that represents the workers and masses of this great nation, we are people organised and working for our economic rebirth. As I am nominated today, I humbly proclaim that the journey towards the emancipation of the country has begun." Against this background, Obi called for sustained support towards returning Nigeria to Nigerians from forces of bad leadership and retrogression, saying such a noble task brings no conscientious objectors.

According to him, "I hardly use war metaphors for political analysis due to my belief that politics is not adversarial and not war. However, permit me a little indulgence here, to relate what we are embarking on to the ancient battle of Thermopylae, where the Greek forces, conscious of fighting for the life of Greece held on against great odds in the defence of their country. "In the battle to retake Nigeria, the odds are great and seemingly insurmountable, but with our commitment, patriotism and understanding that we are doing, what we are supposed to do for our

on our DVB-T2 technology, which is the highest technology available for DTT. “With this technology, subscribers will experience the digital television revolution from the comfort of their homes, complete with great picture and sound quality”, he said. Ugbe added: “Not only are we offering quality programming, we are also giving them choices with up to four GOtv packages at varying price points. It’s our desire that Lokoja indigenes and residents experience the exciting world of GOtv entertainment.” GOtv Nigeria will launch in Lokoja with over 80 exciting channels covering news, music, sports, documentaries, series, movies, and children’s programmes, which are carefully selected to cater for a variety of different tastes and family viewing needs at a very affordable price. “To access the rich library

Dr. Chike Obidigbo, has described the emergence of Obi as presidential candidate of LP as a divine architecture for a better Nigeria, saying the time has come for the people to rise as true citizens to take back their country. Obidigbo, in a statement yesterday, said no matter how hard forces of retrogression tried, nothing could stop an idea whose time has come, stressing that Obi was coming to mobilise Nigerians for social and ethical change. He said, “I do not think Peter Obi dreamed about the massive momentum his Presidential aspiration is building among Nigerians.

I am sure he did not even plan to leave the Peoples Democratic Party (PDP) the way he did. “One thing is clear, there is always the God factor in the affairs of every nation and people. Nigerians have had it to their throat, whether it is money politics, corruption or irresponsible politicians. The time has come for the people to rise as true citizens to take back their country. "The time has come for Nigerians to take serious thoughts about the kind of country they want,” maintaining that Peter Obi’s message of doing the right thing the right way resonates with the mood of young and well meaning citizens.

Oyetola Releases N1.1bn for Pensions Governor of Osun State, Mr. Adegboyega Oyetola, has released the sum of N1.1 billion as part of his commitment to improve the welfare of retired civil servants and workers in the state. In a statement signed by the Head of Service, Dr. Festus Olowogboyega Oyebade, the sum of N600,000,000 of the released sum was for the settlement of retired primary school teachers and local government workers. He added that an additional N500 million was approved to pay contributory pensions of

GOtv Set to Launch in Lokoja June 1 Digital Terrestrial Television (DTT) service provider, GOtv Nigeria will on June 1, 2022, launch in Lokoja, the Kogi State capital, making it the 46th city with access to its service. According to a statement yesterday, residents of the ‘confluence city’ would enjoy an exciting launch offer on GOtv decoder, GOtenna with one-month Max subscription for N6,900, instead of N9,500, to have access to a wide range of quality local and international programing. Speaking on the latest GOtv roll-out, Chief Executive Officer, MultiChoice Nigeria, John Ugbe, was quoted to have said the move was in line with the company’s objectives to make world class digital television entertainment accessible to more households in the country. “We are pleased that our signals are live in Lokoja and residents can now enjoy quality programming

country, lest she shall die, we shall move on discontent with what is and focused on enthroning what ought to be. In doing this, our battle cry shall remain: get your PVC and become part of this great liberation!." He assured the people that his government would unite the nation by pulling people out of poverty, and creating a new sense of nationalism and patriotism. He expressed optimism that Nigeria shall rise again and her people would be proud to claim ownership of her patrimony. Meanwhile, an industrialist and President of Osisisoma Foundation,

of content, new customers can subscribe to any of GOtv packages such as the GOtv Supa for N5, 500, GOtv Max for N4, 150, GOtv Jolli for N2, 800 or GOtv Jinja for N1, 900, monthly. “Line-up of channels on GOtv packages include Africa Magic Urban, Honey, SuperSport, WWE, SuperSport channels, KIX, StarLife, Cartoon Network, ESPN, Zee World, TeleMundo, CNN International, Al Jazeera, Discovery Family, B4U Movies, TNT Africa, MTV Base, HIP TV, Africa Magic Hausa, Africa Magic Yoruba, Africa Magic Igbo, M-Net Movies 4, ROK, Discovery ID, Nat Geo Wild, Da Vinci Kids, Disney Junior, Nickelodeon, Jim Jam and many more. “GOtv Nigeria services is now available in 46 cities across 25 states in Nigeria, making it the digital terrestrial television (DTT) service with the widest coverage in the country,” the statement added.

retired officers of the civil service and parastatals. According to the statement, the selected retirees are to collect their bonds on June 2, 2022 at the Local Government Service Commission Multipurpose Hall.

It also stated that the list of beneficiaries of the approved sum had been pasted on the notice board of the Ministry of Information and Civic Orientation, the State's Pension Bureau and the Office of the Head of Service.

He assured all workers both serving and retired of Governor Adegboyega Oyetola's commitment to always make their welfare the first priority, adding that nothing would be allowed to obstruct all things essential to make them progress.

Monkeypox: No US-controlled Laboratories in Nigeria, Says Embassy Onyebuchi Ezigbo in Abuja United States government has denied allegations regarding the use of US-assisted Nigerian laboratories in the spread of monkeypox in Nigeria In a statement signed by the Information Specialist, Public Affairs Section (PAS) of the US Consulate General in Nigeria, Temitayo Famutimi, the embassy described as wrong and misleading recent posts on social media speculating on the origin of the current global outbreak of monkeypox disease, and urged the World Health Organisation (WHO) to investigate alleged role of the “US-controlled laboratories” in Nigeria. It said such reports were pure fabrication. "There is zero merit to any allegations regarding the use of U.S.-assisted Nigerian laboratories in the spread of monkeypox. Furthermore, there are no U.S.controlled laboratories in Nigeria. "These falsehoods detract from the work that the United States, in close coordination with Nigerian and multilateral partners, accomplish together on public health,

including in disease surveillance, diagnosis, prevention, and control," it added. While dismissing the allegations, the embassy said the collaborative work between Nigeria and the United States had provided opportunities for technical assistance in capacity building, equipment, commodities/consumables, and funding to critical public health program, hospitals and laboratories. "All of this contributes greatly to the prevention and amelioration of global disease outbreaks. "Monkeypox is not a new disease, nor is it unique to Nigeria or this region, having first been diagnosed in 1970 in the DRC. As we work together to contain its spread, exported cases have been reported in the United Kingdom, United States, and other parts of the world," it said. The embassy said the United States government would continue to lend its support and work closely with the government of Nigeria in responding to the Monkeypox outbreak. It said through the collaborative interventions, US government agencies working in Nigeria

(including the U.S. Centers for Disease Control and Prevention (CDC), United States Agency for International Development (USAID), and the Walter Reed Army Institute of Research Program) and their implementing partners have supported both national and state laboratories with technical assistance and funding. "These laboratories are Nigerian, and U.S. support enables them to provide essential services for the public good and the health of Nigeria’s citizens. "Especially important, our support to laboratories across the country extends to quality improvements that ensure they have appropriate levels of biosafety and biosecurity requirements in place. "We will continue to collaborate with the Nigerian government on the ongoing global monkeypox and COVID-19 outbreaks and intensify support to Nigeria in other areas on which we have proudly partnered over the years, such as HIV epidemic control, tuberculosis eradication, malaria elimination, prevention of vaccine-preventable disease, and enhancing food and nutrition," it added.

TUESDAY MAY 31, 2022 • T H I S D AY

T H I S D AY ˾ TUESDAY MAY 31, 2022

POLITICS

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

On the Spate of Worrisome Killings in Anambra Udora Orizu writes that the increasing attacks and mindless killings by unknown gunmen in Anambra State calls for drastic action by the state government and security agencies to rid the state of criminal elements causing mayhem

Buhari

igeria as a whole is believed to be under siege, as the security situation in the country worsens everyday. In the South-east, security has deteriorated in recent times with attacks by unknown gunmen reported almost everyday across the region. Anambra State seems to have witnessed most of the worst attacks as hardly a day passes without the unknown gunmen causing havoc in different parts of the state. In 2021, the state’s security architecture was put to the test by a surge of insecurity that shook its core. On March 17, former Governor of Central Bank of Nigeria (CBN), Professor Charles Chukwuma Soludo was sworn-in as the Governor of Anambra State. During his inauguration, Soludo vowed to fight all forms of criminality in the state. The Governor, thereafter, called for dialogue with the IPOB group and unknown gunmen and declared an end to the sit-athome order in the state. However residents have continued to obey the Monday sitat-home order in the state and across the region, mostly out of fear. The attacks by the gunmen increased in the state shortly after Soludo’s announcement of an end to the sit-at-home order. While the Federal Government has accused IPOB of being responsible for the deadly attacks in the region, the group has repeatedly denied its involvement in the attacks. The separatist group whose leader Nnamdi Kanu, is currently being detained in Abuja where he is facing trial for treason, is leading agitation for an independent state of Biafra to be carved out from the South-east and some parts of South-south Nigeria. Aside secessionist agitations, the use of targeted assassinations to eliminate opponents or to settle political scores before, during or after elections has added a dangerous dimension to the problem. It is believed that some Anambra politicians are not united, and rival politicians use these criminal elements to their benefit. For many months, these unknown gunmen have turned the once peaceful state into a killing field. Recent Massacres In the last two weeks, Anambra has witnessed unimaginable blood shed in various communities of the state. Gunmen on the evening of May 16 killed four members of a vigilante group in Awka, the state capital. The police spokesperson Tochukwu Ikenga, in a statement said that the police responded to a distress call on the attack on the vigilante

Soludo

members. “Unfortunately, during the encounter (with the gunmen), four vigilante operatives sustained fatal wounds.” He said Ikenga said there was a shootout between the gunmen and the police operatives who responded to the distress call. He said the gunmen, overpowered by the police operatives, fled the scene and abandoned a brown Lexus SUV, black Toyota Corolla and brown Mercedes Benz. On May 22 another attack took place at Abatete in Idemili North local government area while another man was killed at Nanka Orumba North local government area. These gunmen also, attacked a police station in Anaku in Ayamelum Local Government Area and set vehicles ablaze. On May 21, a member of the Anambra State House of Assembly, Okechukwu Okoye, who was earlier kidnapped was beheaded. Until his unfortunate kidnap and death, Okoye represented Aguata North State Constituency, the same community as the Governor of the state, Prof. Chukwuma Chukwuma Soludo. Soludo, who confirmed his kidnap during the presentation of the 2022 revised budget to the state House of Assembly, regretted his abduction and assured that the lawmaker would be rescued as security agencies were working round the clock to ensure his release. But his freshly beheaded head was mounted at the Chisco Park in Amichi community, Anambra State on Saturday. In a viral video circulating online, the freshly beheaded head was seen placed in

Ibezim

a carton by the roadside with a handwritten note placed by the side. The next day unknown gunmen, alleged to be members of IPOB killed a pregnant woman Harira Jubril, her four children, and six other northerners in Anambra. They were killed at Isulo, Orumba North Local Government Area of the state. There have been other reported attacks including a headless body on Nnobi-AlorNkpor road, attack at Onitsha Tollgate, Ogbunike/Nkwelle Junction, attack around Eke Adazi Nnukwu, attack at Ogidi, attack at Aforigwe, Umunnachi. All these dastardly acts happened within 48 hours these communities. Presidency, NEF, CAN, Others Condemn Orumba Killings Following the gruesome murder of the pregnant woman, her four children, and six other northerners in Orumba, President Muhammadu Buhari, the Vice President, Prof. Yemi Osinbajo, Northern Elders Forum (NEF), Christian Association of Nigeria (CAN), and African Bar Association (AFBA) expressed condemnation. The presidency said, in a statement that the security agencies would go after the suspected killers. It said the incident was being investigated to determine its factuality, and warned against any hasty reaction by the public to a viral video of the said killings being circulated on social media. Recent Efforts by Soludo to Curb the Mayhem Aside tasking security agencies to put all hands on deck at ensuring protection of lives and properties, the Governor since assuming office has tried one way or another to ensure that peace is restored to the state. On April 7, 2022, he set up a 15-member Committee on Truth, Justice and Peace. This he said is to enable the state government to interface with agitators, so as to allow peace to return. According to a statement signed by the Secretary to the State Government, Prof. Solo

In the last two weeks, Anambra has witnessed unimaginable blood shed in various communities of the state. Gunmen on the evening of May 16 killed four members of a vigilante group in Awka, the state capital

Chukwulobelu, the members include: Prof Chidi Odinkalu, Chairman; Ambassador Bianca Ojukwu, Member/Secretary; and Dr. Joe Nwaorgu, member. The purpose of the committee is to seek a restorative justice approach for truth-telling or real facts, and for the healing of the victims of the violence. It stated that the committee will account for the responsibility and accountability of the actors, conditional mercy for the repentant perpetrators. It will also handle their restitution for certain losses and rehabilitation to allow restoration of peace and justice as well as the promotion of development in the state, and the region/ Nigeria. It added that given the cross-border nature of the conflict, the focus goes beyond Anambra, and possibly covers the entire South-east. However, it appears that the initiative was dead on arrival, as the Committee hasn’t really done anything since the announcement was made. Also, on May 15, Soludo visited IPOB leader, Nnamdi Kanu, as part of his ‘wider consultations’ with critical stakeholders to ensure lasting peace and security in the South-east. He said Kanu expressed sadness over the spate of killings and other forms of criminalities in the South-east. According to him, “He was in very high spirits and we had quality and frank discussion in a very convivial atmosphere. He expressed sadness over what he described as ‘sacrilegious killings’ of innocent persons, kidnappings and all forms of criminalities, including the brutal enforcement of the senseless ‘sit-at-home’ perpetuated by sundry groups claiming to be acting for or on behalf of IPOB.” The governor said the IPOB leader promised to ‘personally’ prevail on his followers, through a broadcast, to maintain peace whenever he gets the opportunity to interact with them. More Drastic Action Needed While his efforts is commendable, the state of lawlessness that pervades the state has continued. It is obligatory on the state government to secure the lives and property of Nigerians. The police in Anambra must tackle these criminals and ensure that these crimes are curbed or brought to an end. Because if nothing is done to stem the tide of insecurity in Anambra, indigenes might resort to self help and it may also lead to renewed call for emergency rule in the state.

T H I S D AY ˾ TUESDAY MAY 31, 2022

POLITICS

A Look Into the Police Reform Roadmap by Dingyadi Deji Elumoye x-rays initiatives put in place by the Minister of Police Aﬀairs, Alhaji Mohammed Dingyadi, aimed at reforming the Nigeria Police Force

he current security challenges in Nigeria including insurgency, banditry, kidnapping, violent and organized crime make a compelling case for a reorientation and reform of the Nigeria Police Force (NPF). The police and other security agencies in Nigeria are key players in the Federal Government’s efforts to handle the problems threatening our democracy. Ending police abuses and increasing police effectiveness and accountability will help to make democracy more meaningful to the majority of the people, especially the poor and vulnerable. Police personnel are perceived as inefficient and corrupt, previous police reform efforts seem to have been motivated by the need for regime survival, rather than an attempt to make policing more effective. In order for police reforms in Nigeria to be effective, certain structural changes are necessary. key institutional reforms must be implemented for community based policing to be effective, including decentralisation of authority and so on. The task of reforming the Nigerian police began on June 21, 2019, when President Muhammadu Buhari signed the Police Trust Fund bill into law. This law seeks to actualize the vision and mission of Mr President for the police to provide additional sources of funding to mobilize the police force. Recall that the Ministry of Police Affairs was established on the 21st of August 2019 by Mr President to, among other things, give attention to re-equipping and re-tooling the police, remodel policing infrastructure via the government community policing initiative and promote commitment to duty through the improvement of welfare for our policemen and women in this country. The Ministry of Police Affairs has Nigerian Police Force, Nigerian Police Academy and the Police Trust Fund as the three agencies under its supervision and is saddled with the responsibility of supporting the vision and mission of Mr President to ensure that policing

Dingyadi

this country is citizen-centred and civil in the performance of their duties. All these objectives have since been made operational by the ministry manned by Alhaji Mohammed Maigari Dingyadi. Recently, Dingyadi, at the 38th Session of the ministerial briefing organized by the Presidential Communications Team spoke on the current status of policing and security in the country and gave insight on key updates from the Presidential Roadmap on Police Reform, innovative strides currently being executed in the Nigeria Police and the impact the implementation of police reforms would have on internal security in Nigeria. According to him, the overall objective of the implementation phase is to strengthen the effec-

tiveness of the NPF. The framework, he said will develop indicators and tools to capture results, outcomes and impact and identify key lessons in the implementation of the Roadmap. The reform initiative he also said is to create a more effective, accountable and responsive police institution; better able to fight crime and secure the life and property of citizens through operationalization of the provisions of the Police Act 2020. This, he explained requires a transitioning away from the NPF of today to the NPF of the future. The Minister stressed that if meaningful change is to be achieved through the reform of the NPF, attention has to be paid to both the police as well as policing. He further stressed that the reform roadmap for the police must be guided by certain principles which will serve as the salient pillars of the reform effort. The principles include, “Building trust and nurturing legitimacy on both sides of the police – citizen divide is the foundational principle underlying the nature of relations between law enforcement agencies and the communities they serve. If the police are to carry out their responsibilities according to established policies, those policies must reflect community values. The use of technology can improve policing practices and build community trust and legitimacy, but its implementation must be built on a defined policy framework with its purposes and goals clearly delineated. Given the complexity and diversity of the society, policing must be reimagined and reinvented as a partnership between the police and the public. Community policing which emphasizes working with local residents to co-create public safety must be entrenched as a guiding philosophy for all stakeholders. As the scope of law enforcement’s responsibilities expands, the need for expanded and more effective training has become critical. Officers must be trained and enabled to address a wide variety of challenges including international terrorism, communal conflicts, evolving technologies, changing laws, new cultural mores, and a growing mental health

crisis. The welfare and safety of police officers is critical not only for the officers, their colleagues, and the NPF, but also to public safety. The proper implementation of measures designed to guarantee officer wellness and safety is essential to boosting morale and increasing productivity.” Achievements So Far Listing some of the achievements by his ministry, the Minister said that following President Buhari’s assent to the Police Trust Fund bill in 2019, the fund has successfully delivered on its 2020 and 2021 budgets, purchasing operational vehicles, arms and ammunition, bulletproof vests and helmets for police operations. The fund also purchased medical items to meet the health needs of policemen nationwide. In addition, accommodation for the police has also received a facelift. Similarly, he recalled that on September 16, 2020, President Muhammadu Buhari signed the Nigerian Police Bill 2020, which repealed the obsolete police laws of the Federation 2004. This composite document, he said, has elicited an array of ongoing reforms, in the Nigerian police to ensure the sustainable reformation of the police and make it accountable and deeply rooted. The Federal Government also approved the setting up of a police reform technical team in the office of the SGF to coordinate efforts geared towards achieving this lofty aim. His words, “it is gratifying to report that a lot has been achieved in this direction. Of particular reference are the technical assessments of the three premier training colleges in Maiduguri, Kaduna, Lagos, and Enugu. Upward review of recruitment procedures and training curricula in these institutions is also under consideration. Development of promotion and leadership courses at all levels of these institutions are also being reviewed by the technical committee. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Setting Transparency Agenda for APC Presidential Primaries Kehinde Bamigbetan reviews the just concluded presidential primaries of the main opposition political party, Peoples Democratic Party and challenges the ruling All Progressives Congress to put up a better convention

he just-concluded presidential primaries of the Peoples Democratic Party (PDP) has, undoubtedly, thrown a challenge at the ruling All Progress Congress (APC) as it gets ready for its primaries on June 6 and 7, this year. The fundamental.shift in the organisation of the primaries is the massive reduction in the number of delegates due to the removal of the provisions relating to statutory delegates. In the case of the PDP, which adopted one adhoc delegate per.local government, the restriction to elected delegates cut the number from over 5,000 to 767. The APC’s adoption of three delegates per.local government area will produce about 2,322 delegates. In view of the fact that the delegates were elected more thank one week ago, it is important to make available the list of delegates to all aspirants without further delay. The delay in releasing the list could ruin the chances of several aspirants. For instance, a PDP presidential aspirant, A. Nwachukwu told a bewildered audience last Saturday that he couldn’t talk to the delegates because he got the list two days to the primaries. Consequently, he withdrew from the race. The choice of the venue, Moshood Abiola Stadium was equally strategic because it provided enough space for all the participants. The stage was specially built at a vantage location for easy viewing of the processes of the election through the various television networks for viewers at home and those at the scene. A very elaborate decoration of the venue and appropriate signposts to lead partici-

Adamu

pants to where state delegations were expected to sit were provided in a manner depicting the savvy of the organisers. If APC will still use the Eagle Square, Abuja, it is important to provide better ambience than what the PDP did. The event will be live. Clarity of demarcated space and signs will help the viewers and participants perceive the organisation that will go into the management of space. The deliberate use of colours of the party is critical to perception. The compere team at the PDP

primaries ensured the event flow from arrival of party leaders to the adjournment was smooth enabling Nigerians to watch the transparent process through which former Vice President Atiku Abubakar emerged as the flag-bearer. In terms of perception and branding, the PDP lived up to its “democratic” name. This already launched its presidential campaign as a party whose primaries resonated and consolidated its name through its conduct. APC must take serious these issues as it puts together its primaries in the next five days. Its primaries must also ramify its “progressive” nomenclature and demonstrate that it would not allow anachronistic under-the-table malpractices to undermine the goodwill it is courting with the Nigerian voters. APC must recognize the fact that the “republicans”, children born in 1999 when the current civil dispensation began are now of voting age and are watching which party to support. APC must note the much publicised fact that youths below age 30 now constitute over 60 percent of our population, have grown up at a time of unprecedented freedom in which every individual now own his or her own medium and very independentminded in reasoning and judging persons and parties. To appeal to this new generation of voters, the presidential.primaries cannot afford any rigmarole or further false starts. The thinking out there is that the APC postponed its primaries to set up the PDP and use the outcome.of PDP primaries to guide its own choice of flag-bearer. It is difficult to dismiss such a conjecture.

Recall that the APC had given the impression that it had zoned its presidential candidate to the South until the PDP relaxed its own conventional zoning policy. In what still confounds party members and players, the chairman of the APC, Senator Abdullahi Adamu suddenly announced that it was a wrong assumption. To rub it in, the field of presidential aspirants fully occupied by southerners got a Northern joiner in the person of Senate President Lawan, the same distinguished Senator who had praised the frontline presidential contender Asiwaju Bola Tinubu to high heavens when he engaged the senators. These two incidents, if not reviewed by the APC to develop a unilateral strategy, may become a book to hook the line of thought at the party’s secretariat: to know the next move of the APC, check the current move of the PDP! Indeed, the challenge of unilateral strategy is so bad that, even in sourcing presidential aspirants, agent provocateurs in the APC power game, have taken the reckless route of the Mihetti Allah, an assembly of cattle traders, to invite former President Goodluck Jonathan, a sitting member of the PDP Board of Trustees, to fly its flag. In these circumstances, the Senator Adamu-led APC must see the bigger picture that the presidential primaries represent. It is a crucial opportunity to.market the party, its presidential assets and transparent process to the critical electorate, including the new “republicans” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

TUESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

THE ALTERNATIVE

with RenoOmokri

What Is The Origin of ‘Christian’ Cross? E

very day, Christians in their hundreds of millions make the sign of the Cross and think they are performing an act of faith pleasing to God. But is that really what we are doing? I had heard and read about the true origins of the Cross, and in 2019, I travelled to Ethiopia to celebrate Meskel, which is a celebration of the discovery of the true Cross in Ethiopian orthodox Christianity. I am a truth-seeker, and I wanted to get to the truth no matter whose religious feathers are ruffled. I was told that if I wanted to get to the bottom of the mystery behind the Cross, then Israel and Ethiopia were not the best starting point. I was directed to Egypt, and off I went. I engaged the services of a licenced ancient Egyptian historian and we began investigating. And that was when I discovered the Ankh. So, how does the Ankh concern Christ and the Cross? The Ankh is an ancient Egyptian mystical symbol used to represent life. It is most commonly seen being held by Ancient Egyptian gods and was given by them to Pharaohs as an assurance that they (the gods) would sustain the Pharaoh’s life in the afterlife. The Ankh can be found in the temples and tombs of virtually every ancient Egyptian Pharaoh, and I saw them with my own eyes at Tutankhamun’s tomb. Do note that Tutankhamun lived 1300 years before Christ came to Earth. One of the things that will shock many people is the fact that Christ did not die on a Cross. Scripture never said so. I can see you getting agitated. Christ existed. He is the Son of God. He lived, died and resurrected as a propitiation for our sins, and there is no way to God EXCEPT through Christ. I did NOT say The Bible never said Christ died on The Cross. It does. I said the SCRIPTURES never said so. The Bible is a TRANSLATION of the Holy Scriptures. The word used in Scripture is Tree. The original word used in the original Greek Scripture is staurÕ, which may mean a pole, or a stake, or the word xylou, which means tree. The ONLY Old Testament Scripture that prophesied the way Christ would die (Deuteronomy 21:23), uses the Hebrew word yn˙oy (spelt in Roman alphabets as hã-‘ês) which is the Hebrew word for tree. Believe it or not, for the first 200 years of the Church, the Cross was NOT a Christian symbol. The Christian symbol was actually a fish, in reference to Christ’s words in Matthew 4:19 “Follow Me, and I will make you fishers of men.” Please do not take my word for it. Research it. Everywhere you see the word ‘Cross’ in The New Testament, you are reading a word that is translated from either staurÕ or xylou. I encourage you to use a Greek dictionary to find out the meaning of both words. In fact, in the KJV, the translators sometimes forgot to use the ‘official’ word, Cross, and instead used the proper word, tree in Acts 5:30, Acts 10:39, Acts 13:29, Galatians 3:13, and 1 Peter 2:24. So, where did the Cross originate from? I urge you to look at the attached picture of the Theban Trinity of ancient Egyptian demon gods (consisting

The cross of Amun, his consort Mut and their son Khonsu). What are they each holding in their right hands? I urge you to note that these papyrus paintings are over 3000 years old. In Exodus 20:4, Scripture says we must not make an image of anything on Earth or in heaven or under the Earth. That is why Christ and His disciples and the early Church did not use a Cross, whether with or without the image of Christ on it. The usage of the Cross and the Crucifix came from the Roman Emperor, Constantine, who was a pagan and claimed to have converted to Christianity. Thus began the introduction of The Trinity and The Cross into Christianity. Both of which, the Romans and Greeks copied from the ancient Egyptians, not from Scripture. It is an undisputed fact that Christ did not die on a Cross. It is an undeniable fact that the Ankh predated the Cross. It is an indisputable fact that Christ asked us to teach believers “to observe all things whatsoever I have commanded you”-Matthew 28:20. So, my question is who taught us to observe the Cross, and to make the sign of the Cross, and to put it in our places of worship? Certainly not God or His Son. You will never read an account of anybody making the sign of the Cross or putting a Cross in a church or synagogue in Scripture. I challenge you to search the Scriptures. I am a man of known financial means, and I covenant to give $10,000 to anyone who can show me anywhere in Scripture where the sign of the Cross or the Cross was used by Christ or His disciples. It is time for us to purge Christianity of pagan practices and that is why after prayer and fasting, I felt led to travel to Israel, Greece, Spain (Montserrat to see the Black Madonna), Rome, The Vatican, Ethiopia, and Egypt, to gather first-hand knowledge

about the true faith that Christ brought to Earth. We must be like the Berean believers, of whom Scripture said, “These were more noble than those in Thessalonica, in that they received the word with all readiness of mind, and SEARCHED the SCRIPTURES daily, whether those things were so.”-Acts 17:11. Notice that they searched the Scriptures. They did not just swallow everything Paul told them hook, line and sinker. It is that important. Nothing is more important to me than chasing down the truth about God because Christ said in John 4:24 that “God is a Spirit: and they that worship him must worship him in spirit and in truth.” If we are adopting pagan mystical practices, how can we be said to worship God in spirit and in truth.”? My life, my money, my possessions and my time are not as important to me as my God. I believe that if mainstream religion clashes with God, a true believer must choose God. If work time and God time clash, a true believer must choose God. If politics and God clash, a true believer must choose God. If football and God clash, a true believer must choose God. If a friend's demands and God’s requirements clash, a true believer must choose God. If popularity and God clash, a true believer must choose God. So, while I know that what I am writing will not be popular, I must say it, because Scripture says “we are therefore Christ's ambassadors, as though God were making His appeal through us. We implore you on Christ's behalf: Be reconciled to God.”-2 Corinthians 5:20. To me, this is the only way I know how to worship God in spirit and in truth and I urge all my readers not to take my words at face value, but to be like the Berean Christians and “search the scriptures daily, whether those things were so.” We must pay close attention to what Scripture says. Scripture like 1 Timothy 4:1 which reads as follows: “Now the Spirit speaketh expressly, that in the latter times some shall depart from the faith, giving heed to seducing spirits, and doctrines of devils;” How can we have a symbol in churches whose origin is clearly of Ancient Egyptian mystical origins, and we are not asking questions? Some people privately message me and urge me to tread with caution, lest the establishment quietly kills me. But even that warning assumes that I am afraid of death. I am not scared of death. Not at all. What do I want to achieve in life that God has not given me, often on a platter of gold? If I, who has been so blessed by God, cannot risk my life against the establishment for Him, then I am of all men most useless! 2 Chronicles 16:9 says “For the eyes of the LORD run to and fro throughout the whole earth, to shew himself strong in the behalf of them whose heart is perfect toward him.” My body is imperfect towards God. I am a sinner. I freely confess that. But my heart is wholly devoted to God. I have no doubt in my heart that the God of Abraham, Isaac and Jacob, the God and Father of my Lord and Saviour, Yeshua Hamashiach, is the ONLY TRUE God. If I am killed doing what I believe He is leading me to do, then that death will be the sweetest

death possible and I have no fear in my heart if it has to come. We cannot just go along to get along. We must interrogate every aspect of our religion to make sure that it has complete fidelity to Scripture. After all, it is the same Scripture that warns us to “believe not every spirit, but try the spirits whether they are of God: because many false prophets are gone out into the world.”-1 John 4:1. Every piece of information that does not lead to transformation is entertainment. Do not just read this and be entertained. Read this and be spurred on to get to the bottom of your faith. You owe it to yourself because on the last Day of Judgment, every man will independently give an account of his life before God who tries the heart. 2 Timothy 3:16 says “All SCRIPTURE is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness:” Note the word Scripture. Not the Bible (translation of Scripture). That Masons and Rosicrucians dominated the translation of Scripture into the King James Version of The Bible is a historic fact. Research it. Sir Francis Bacon, who was Lord High Chancellor to King James I, was a Rosicrucian. That is a historical fact. The word Rosicrucian simply means "Order of the Rosy Cross". He picked many of the KJV translators. It was their agenda to promote the Cross. The Cross plays a mystical role in their occult world. Many of those appointed into the committee that translated Scripture into KJV were Masons. That is a historical fact. And even Masons themselves regard the KJV as “The Great Light of Masonry”. What is the evilest regime that ever existed on Earth? That would be NAZI Germany. What was their state symbol? You would say a Swastika. And you would be wrong. That is a Hindu word that those outside NAZI Germany used to describe their symbol. The NAZIs called their symbol a Hakenkreuz, which is German for Hooked Cross. It is a known fact that the NAZIs were deeply steeped in the occult. Scripture tells us not to be “be conformed to this world, but be transformed by the renewing of your mind, that you may prove what is that good and acceptable and perfect will of God.”-Romans 12:2. What better way to fulfil the above Scripture than to read Scripture in its original language and “conform” to it? If the original Scripture does not mention the word ‘Cross’, and instead uses the word tree, then who are we conforming to by arguing for and propagating the lie that Christ was killed on a Cross? Certainly not God. Certainly not Scripture. Why can’t we as Christians learn from Muslims by learning and reading Scripture in the original language? I know of 7-year-old Muslim who can read and recite the Quran in Arabic. Why can we not have adult Christians who can read and recite the Holy Scripture in Hebrew, Aramaic and Greek? That is why I respect Apostle Johnson Suleman. He not only taught himself Greek. He went to Greece and stayed in a commune and read the original Scripture in its original language 34 good times! There are some people who say this does not affect salvation. Really? The introduction of occult symbols into Christianity does not affect salvation? Then why does 1 Peter 1:16 say “Be holy, because I am holy”?

NEWS

Zulum Advocates Framework to Guide Issuance of Fatwa Michael Olugbode in Maiduguri

Borno State Governor, Professor Babagana Zulum, has called for government’s establishment of framework to guide the issuance of fatwa. Fatwa, according to Wikipedia, is a legal ruling on a point of Islamic law given by a qualified jurist in response to a question posed by a private individual, judge or government. A jurist issuing fatwas is called a mufti, and the act of issuing fatwas is called ifta. Zulum, who yesterday graced the closing ceremony of a two-day Seminar with the theme: "The Role of Fatwa in Sustaining Peace and Stability", organised by the Indimi Islamic Trust Centre in Maiduguri, said there was the

need for government to establish an institutional framework that would guide the conduct of fatwa. He noted that this should not only be limited to Borno State, but the entire country, disclosing that Borno, had already established the Borno State Preaching Service Board.

Zulum highlighted the importance of the seminar and said there was no better time than now for holding such a seminar in the state. The governor also emphasised the need for understanding the meaning and proper use of fatwas, which he explained as

the opinion cited by an Islamic scholar (a qualified jurist) about some aspects of Islamic law. The governor assured the organisers that the state government would keenly look into the outcome of the communique of the seminar and give its support where necessary, including tabling

relevant recommendations to the Northeast Governors’ Forum. Zulum was accompanied to the seminar by the Secretary to the State Government, Alhaji Usman Jidda Shuwa; Chief of Staff, Professor Isa Marte, and Former Commissioner of Agriculture, Bukar Talba.

The seminar was also attended by top clerics, including Dr. Sani Umar Rijiyar Lemu from Kano, Chief Imam Indimi Mosque, Dr. Muhammad Alhaji Abubakar Alkitab, and the Special Adviser on Religious Affairs, Sheikh Modu Mustapha, amongst other prominent scholars in Borno state.

Ifeanyi Odii, 45-Year-Old Billionaire Clinches Ebonyi PDP Governorship Ticket Ifeanyi Chukwuma Odii, a 45-yearold billionaire, has clinched the governorship ticket of the Peoples Democratic Party (PDP) in Ebonyi State. Odii, a business mogul, who also sits on the governing council of the Lagos State University, his alma mater, polled a total of 349 votes to defeat his closest rival, Chris Usulor, who

scored nine votes. Two other aspirants, Sylvester Ogbaga, a fourth term member of the House of Representatives, got one vote while Chukwuma Nwazunku, who is also a member of the House of Representatives, got one vote. The election took place at the party secretariat in Abakaliki, located along Abakaliki/Enugu expressway, on

Sunday. The astute business man hails from Onitcha Local Government Area of Ebonyi State, in the Ebonyi South senatorial zone where the incumbent governor of the state, David Umahi, comes from. Umahi would serve out his second term as governor next year. Umahi, who was elected on the

platform of the PDP, defected to the All Progressives Congress (APC), in November 2020. Odii was declared winner by the gubernatorial committee chairman for Ebonyi State, Rotimi Olalekan. Olalekan said the exercise was transparent as it was done in the open. He declared, “Ifeanyi Chukwuma

Odii as the winner of the governorship primary election that took place in the State.” In his acceptance speech, Odii promised to reclaim the mandate of the PDP in Ebonyi State. He also reiterated his desire keep his campaign promises and” identify growth opportunities and allocate scarce resources for maximum returns.

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T H I S D AY TUESDAY MAY 31, 2022 Tuesday May 31, 2022 Vol 27. No 9914 TR

See page 24 ATIKU’S VICTORY AND THE TINUBU QUANDARY ETIM ETIM argues that the choice by the PDP offends the nation’s endless search for stability and harmony

See page 24 RETURNING NIGERIA TO THEIR RIGHTFUL OWNERS The struggle continues, writes PETER OBI See page 25

PDP FAÇADE OF TRANSPARENCY AND OTHER ISSUES VICTOR C. ARIOLE contends that leadership value determinants in Nigeria are money, trust and followership See page 25

EDITORIAL PARTY PRIMARIES AND PUBLIC EXPECTATIONS

See page 26

& RE A S O

opinion@thisdaylive.com

www.thisdaylive.com

PDP’S BETRAYAL AND THE CHOICE BEFORE THE APC The APC should do the right thing by giving the ticket to the South or the politically expedient thing by giving it to the North, writes FEMI FANI-KAYODE

UT H

PAUL NWABUIKWU contends that Wike would have found it hard to muster the support of many critical persons if he had won

WIKE’S LOSS, PDP’S GAIN When it became clear to Rivers Governor Nyesom Wike that he had lost the PDP presidential nomination to former Vice President Atiku Abubakar by a sizeable PDUJLQ IROORZLQJ D VXVSHQVH À OOHG SURFHVV last weekend in Abuja, the loquacious “Mr Projects” lost his voice. The man who had dominated the headlines and social media video clips with his scathing putdowns of other candidates, his barbed humour and, on occasion, his gravelly inebriated singing had nothing to say. According to media reports, he “stormed” out of the event. The reports didn’t say, but I suspect he didn’t make any jokes or sing as he made his way out of the MKO Abiola National Stadium. The joke this time was on him. As young people would say, Wike was served a spectacular “breakfast” on national live television. He didn’t see his defeat coming. Like Margaret Thatcher who declared that “the possibility does not exist”, when she was asked about the prospect of Britain losing the Falklands war to Argentina in the 1980s, the Rivers State governor did not believe a loss was even remotely on the cards. His FRQÀ GHQFH ZDV JUDQLWH À UP %HIRUH WKH convention, he had asserted, over and over again, “I am not an aspirant. I am the PDP candidate.” He even demanded that a bemused Seun Okinbaloye of Channels TV congratulate him in advance because “nobody will win me in this election”. One got the impression that Wike had received assurance of victory not only from his political allies, but also from spiritual quarters as well. 7KH VRXUFH RI KLV FRQÀ GHQFH ZDV FOHDU He had invested his war chest, marshalled his forces, cashed his political cheques, reviewed his strategy, conducted pilots to WHVW WKH H΀ FDF\ RI KLV VWUDWHJ\ GHSOR\HG KLV troops and the signals from the frontlines said the same thing: victory was certain. And then came that climactic moment. Sokoto Governor Aminu Tambuwal, his northern political “bestie”, a trusted ally whom he had consistently supported, stood up, made a rambling speech about Nigeria and the imperative of patriotism and crossed over to the Atiku side. That was when the reality hit Wike. As Atiku ally Dino Melaye physically lifted Tambuwal high in appreciation, Wike’s ambitions to replace Buhari were headed in the opposite direction. In the end, it wasn’t even a close contest. Atiku got 371 votes, a whopping 134 votes higher than the 237 votes obtained by the second placed Rivers governor. Bukola Saraki was a distant third with 70 votes. Akwa Ibom governor on the radar during the pre-convention campaigns got 38 votes, almost double the number of Bauchi

Governor Bala Mohammed, a much more YLVLEOH FRQWHVWDQW 7KH GLͿ HUHQFH EHWZHHQ Atiku and Wike was almost half of Wike’s total votes. So he did not get a chance to JR LQWR D UXQ RͿ ZLWK $WLNX ZKLFK ZRXOG have been a more gallant way to lose. Besides his supporters and admirers, others mourned Wike’s loss. Many in the APC also did. The ruling party apparatchiks desperately wanted him to win because he is widely considered a lightweight in electoral terms compared to the battle-hardened Atiku who has been contesting the presidency for almost three decades. In the Social Democratic party nomination contest in 1993, the Turakin Adamawa was third behind MKO Abiola and Babagana Kingibe and his support was critical to Abiola’s eventually getting the ticket. More recently, Atiku, with Peter Obi on the ticket four years ago, had given APC a run for its money, and, many

Wike didn’t see his defeat coming. Like Margaret Thatcher who declared that ‘the possibility does not exist’, when she was asked about the prospect of Britain losing the Falklands war to Argentina in the 1980s, the Rivers State governor did not believe a loss was even remotely on the cards

believe, actually snatched the critical state of Kano before some “government magic” was introduced. It’s easy to see why APC aparatchiks wanted Wike as PDP’s candidate. Like his predecessor Peter Odili in the runup to the 2007 elections, Wike earned a name as the biggest “Donatus” of Nigerian politics, a politician whose path to Eldorado was paved with Naira and dollar notes. Nuhu Ribadu, then EFCC chairman, put paid to Odili’s ambition to become Umar Yar’Adua’s running mate. And so Odili’s ambitions, like Wike’s did 15 years later last Saturday, came to a crashing end. But Odili had something which Wike lacks: the wisdom not to make unnecessary enemies. Wike has a great talent for insulting and alienating friends and foes – not an asset in politics. It was in full display throughout the nomination contest. He mocked, he dismissed, he ridiculed, he taunted. His contempt for other contestants was withering. The other aspirants - Atiku, Saraki, Peter Obi, etc – as well as political foes in Rivers and traditional rulers all felt the rough edge of his rampaging tongue. There is nothing new about insults in politics. Politicians, from Winston Churchill to Bola Ige were famous for their ability to leave gaping holes in the public image of their opponents with exquisitely crafted and impeccably delivered scorn. But for Wike, insults are not an occasional component of a strategy but a default device to hurt and humiliate anyone who catches his fancy. The bottom line is that Wike would have IRXQG LW GL΀ FXOW WR PXVWHU WKH VXSSRUW DQG cooperation of many critical persons in the party if he had won. People rarely forget disrespectful, wounding statements. Beating whoever APC decides as its candidate won’t be easy for Atiku. The ruling party has the edge in incumbency, resources and realpolitik. The last seven \HDUV KDYH VKRZFDVHG $3&·V PDQ\ GHÀ FLWV in governance. Away from the cameras, many top shots are embarrassed about their party’s record. Despite this, APC has also demonstrated WKDW LW KDV D PRUH KDUGQRVHG DQG HͿ HFWLYH grasp of power and propaganda than its rivals. The Obi factor vs the unhappy south east and the many cleavages that dot the country will provide a fertile ground for sundry machinations. But however hard things turn out for PDP, they would have been much harder if Wike had won. PDP dodged a bullet. Nwabuikwu is a member of THISDAY Editorial Board

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T H I S D AY

The APC should do the right thing by giving the ticket to the South or the politically expedient thing by giving it to the North, writes FEMI FANI-KAYODE

PDP’S BETRAYAL AND THE CHOICE BEFORE THE APC With the emergence of a Northerner as its presidential candidate I wonder how Afenifere, PANDEM, Ohaeneze Ndigbo, the Middle Belt Forum and the Southern and Middle Belt Leaders Forum now feel about their favoured child known as the Peoples Democratic Party (PDP)? The virulent and avowed opposition that these august and highly respected bodies had against a Northern presidential candidate has been overuled by their party. Their call for an Igbo presidential candidate has been ignored and treated with contempt and disdain. 7KHLU SUHIHUUHG SDUW\ LV ÀHOGLQJ D Northerner and there is nothing they can do about it. They have been misled, fooled DQG VFDPPHG DQG WKH\ KDYH QR LQÁXHQFH RU SRZHU RYHU WKH DͿDLUV RI WKHLU IDYRXUHG SDUW\ Despite their revered age, wealth of knowledge, profound insight and depth of wisdom their PDP has tossed their collective counsel into the dustbin. Permit me to welcome them to the world of ‘real politik’ and I advise that they stop allowing themselves to be so easily manipulated and deceived. Politics is a game of numbers where words and the knowledge of history alone count for OLWWOH DQG ZKHUH RQO\ LQVLJKW SDVVLRQ D ÀUP resolve and a large war chest coupled with the ability to conspire and the courage to build bridges even with past adversaries and former foes are the keys to success. In this game, like the words of Shakespeare’s witches in his famous play ‘Macbeth’, “fair is foul and foul is fair: hover through the fog and ÀOWK\ DLU µ ,W LV D VWUDQJH DQG GL΀FXOW JDPH ÀOOHG ZLWK intrigue, betrayal and treachery. It is murky, it is foggy, it is dark, it is treacherous, it is full of intrigue and mystery and nothing is as it seems or appears. They thought their PDP would produce a Southern candidate even if the APC failed to do so but now they know that the trust they bestowed on their arrant yet favoured child was misplaced. This was a shocker to them. And let me assure them that more shockers and surprises are coming. I believe it is time that they start thinking GLͿHUHQWO\ DQG DGRSWLQJ D QHZ DSSURDFK LQ order to achieve their noble objectives of a fair, equitable and just Nigeria in which we are all equals regardless of ethnicity or faith. Constantly supporting and relying on the PDP and hoping they will come to power WR GR VRPHWKLQJ QHZ À[ WKH SUREOHPV DQG provide the solutions is an ill-placed illusion and dangerous delusion. It simply cannot work. I advise them to have a rethink and to realign. In doing so they PD\ ZHOO PDNH D GLͿHUHQFH DQG DFKLHYH WKHLU noble objectives. Now permit me to get to the meat of this essay. It is interesting to note and quite an irony that the ruling All Peoples Congress (APC), a party that the opposition PDP has wrongly labelled as a bunch of Northern irredentists and hegemonists, are now the ones that could SRVVLEO\ SURYLGH D 6RXWKHUQHU DV WKHLU ÁDJ bearer. Conversely the PDP, the party that has always claimed to champion the precepts of equity, justice and Southern rights and that has always prided itself on its strong Southern EDVH KDV RSWHG WR JLYH LWV SUHVLGHQWLDO ÁDJ WR

a Northerner. They turned their backs on the people of the South East who have given them more support than any other ethnic nationality in the country over the last 23 years. They spurned the people of the Middle Belt who saw in them a hope of salvation and emancipation. They rejected the people of the South South whose sons and daughters stood ÀUPO\ EHKLQG WKHP WKURXJK WKLFN DQG WKLQ Finally they displayed their usual and utter contempt for the people of the South West who they have always regarded as nothing but the biblical “hewers of the wood and the GUDZHUV RI WKH ZDWHUµ DQG WKH SRRU UHODWLYHV of the party ever since President Olusegun Obasanjo left power in 2007. Worse still they gave their ticket to a man who is the best of friends with Sheik Ahmad Gumi, the defender-in-chief of the terrorists of the North West, they gave it to a man who withdrew a public condemnation of the savage lynching of Miss Deborah Emmanuel in Sokoto and they gave it to a man that refused to condemn the brutal slaughter of a pregnant Fulani lady and her four children in Anambra. They gave their ticket to a man that lost the 2019 election and promptly left the country for three long years for beautiful Dubai, abandoning all his followers and supporters to weather the Nigerian storm and waters. How this man can sleep at night I really GRQ·W NQRZ They gave their ticket to a man who is soft on the terrorists that are butchering the people of the North West and North East and who has RͿHUHG QR VROXWLRQ WR WKH SODJXH RI XQNQRZQ gunmen and terrorists that are slaughtering people in the South East. Is this a party that can be trusted with power? Have they not become the very monster that they once claimed to seek to oppose and destroy? Have the tables not turned? Has the party not been taken over by faceless hardliners with a hidden agenda? Can the people of the South West, South East, South South, North Central or even North West and North East trust Atiku with power? I have my doubts. The truth is that the PDP has been high-jacked by a dangerous cabal who have utter contempt for anyone and everyone that is not part of their inner circle. Many ask, who are those in this cabal? Who are those that now control the PDP and that ensured that Nyesom Wike was defeated and Atiku emerged? The same forces ensured the emergence of Atiku at the Port Harcourt Convention in 2018 by whispering his name at the last minute to the relevant stakeholders and they have done it again in 2022. +RZ FDQ D VHULRXV SROLWLFDO SDUW\ QRW DͿRUG Ayo Fayose, Dele Momodu at least ONE vote each at its presidential primaries simply because they refused to bribe the delegates? How can they lose Rabiu Kwankwaso, Peter Obi and Enyinnaya Abaribe to other smaller and totally inconsequential parties just before their convention? How can they deny Pius Anyim the presidential ticket? How can they not encourage Ifeanyi 8JZXDQ\L ZKR LV WKH EHVW RI WKHP DQG WKH brightest star in the South East, to run for the nomination? Fani-Kayode was a former Aviation Minister

TUESDAY MAY 31, 2022

ETIM ETIM argues that the choice by the PDP offends the nation’s endless search for stability and harmony

ATIKU’S VICTORY AND THE TINUBU QUANDARY Atiku Abubakar’s victory at the PDP primary has excited Bola Tinubu and his supporters in a rather weird manner; so much so that Tinubu was WKH ÀUVW WR FRQJUDWXODWH WKH IRUPHU 9LFH 3UHVLGHQW even before the delegates left the stadium early Sunday morning. Since then, Tinubu’s supporters have been all over the place, celebrating Atiku’s emergence, and generally insinuating that it is only Tinubu that can possibly defeat Atiku at the general election. But it’s not true. Tinubu is a defective candidate burdened with a huge baggage of problems that has become a quandary to his ambition. The undue enthusiasm in the

Tinubu camp is because his supporters see Tinubu in Atiku. For them, the former VP is Tinubu’s alter ego; another version of Tinubu; his alternate personality or persona. The striking similarities between the two men: their character, their kind of politics, their wealth and desperation for power and control have created the weird fascination Tinubu and his supporters have for Atiku. Because Tinubu sees Atiku as a second identity; his own second self or, if you OLNH D GLͿHUHQW YHUVLRQ RI KLPVHOI WKH $WLNX ZLQ over the weekend has rekindled in Tinubu that age-old sense of entitlement to power. In other ZRUGV WKH $3& FKLHIWDLQ KDV VXGGHQO\ VXͿHUHG a recrudescence of an old illness. It is akin to a recovering drug addict in a rehabilitation FOLQLF ZKR VXGGHQO\ ORQJV IRU WKH VWXͿ LI KH sees someone taking it, even if in a movie. This is a very dangerous medical and psychological condition, and I’m surprised that nobody has raised the alarm.

scandalous cases, even when he was Vice 3UHVLGHQW 7KH 37') DQG WKH -HͿHUVRQ FDVHV easily come to mind. As VP, Atiku took on his boss, President Obasanjo, in 2003 and made a bid to overthrow him during that year’s primary election. Obasanjo has written the most damning assessment of him in his memoir, My Watch. Atiku has not changed. The international community and many of Nigeria’s development partners are peeved at the probability of a Tinubu candidacy and they have expressly said so to the authorities in Abuja. Our foreign friends are tired of a giant

of Africa that has been indolent largely due to incompetence and graft. A failed Nigeria would be a major problem to the world. It would trigger waves unprecedentedly massive migrations into Europe, Asia and the Americas. The international community thus wants to see a prosperous and stable Nigeria strong enough to pull the other 53 African countries along. This is why the thought of returning power to dodgy politician rankles the West. They understand the ruinous impacts of corruption and they have a good understanding of the quantum of our resources stashed away in foreign banks and tax havens by some of our ‘’big men’’. Tinubu and Atiku’s unbridled quests for the presidency are alarming. What do they want? While this is Atiku’s sixth attempt, this contest is part of Asiwaju’s ‘’lifelong ambition’’. But Nigerians are not convinced about the nobility of their intentions. Atiku has well known problems. The corruption halo, his loyalty problem will come The next President should up soon in discussions across the country. But be spick and span, without IRU QRZ KLV FKRLFH E\ WKH 3'3 RͿHQGV WKH nation’s endless search for stability, cohesion a whiﬀ of any form of and harmony. There’s no doubt that the fragility of our nation and nationhood would dishonor or scandal, just be further degraded if another Northerner like Buhari himself, and succeeds Buhari. As a country, we must work hard to sustain the alternation of the the Vice President, Prof Presidency between North and South in a Yemi Osinbajo regular rhythm for a very long time in order to enhance inclusiveness and nation building. Atiku’s emergence therefore is an insult to 7KH ÀUVW SUREOHP ZLWK 7LQXEX LV WKDW KH ZRXOG our past heroes. They fought hard to hand have to pair with a Northern Muslim as a running us a united and relatively stable country. mate, but that would pose a serious religious :H FDQQRW DͿRUG WR WR\ ZLWK LW 8QNQRZQ imbalance, trigger tensions and disenchantments to many, some advanced countries have LQ D FRXQWU\ DOUHDG\ GHHSO\ SRODUL]HG DQG D΁LFWHG adopted this practice of rotation to safeguard by many problems. Are you not surprised that their plurality. In Switzerland, the position of his supporters have never broached this issue as the President of Swiss confederation rotates a major drawback of his candidacy? Many senior among the seven Councillors (regional leaders in APC, including governors like Nasir heads) on a yearly basis, with one year’s Vice el Rufai, are very resentful of Tinubu’s insatiable President of Switzerland becoming the next appetite for power, in addition to his total control year’s President of the country. of Lagos. They won’t support him. Etim Atiku has also been embroiled in several is a Journalist

325

T H I S D AY TUESDAY MAY 31, 2022

The struggle continues, writes PETER OBI

RETURNING NIGERIA TO THEIR RIGHTFUL OWNERS The race for the next general elections KDV VWDUWHG 'LͿ HUHQW SDUWLHV DUH SUHVHQWO\ engaged in their primaries to choose those that will represent them. It is therefore right to say that once again, history beckons. In spite the bad governance over the years, Nigerians have remained hopeful for a national rebirth, which implies returning Nigeria to Nigerians – farmers,

teachers and students, lecturers, artisans, workers, pensioners and over a hundred million poor Nigerians who are not sure where their next meal will come from. Therefore, electioneering is seen as a time Nigerians are summoned to patriotic duties towards seeking the desired political emancipation of our dear country, which stands wounded by many years of cumulative leadership failure. Are we ready to do the right thing?

Our governance mission will be twin-tracked. Secure Nigeria in every ramiﬁcation: national security, human security, food security and tackling insecurity created by unemployment Painfully, our current dysfunctional system rewards unearned income and conspicuous consumption; allows university lecturers to remain on strike for months; keep our youths at home; and owe pensioners, who gave their patriotic sweat and their youthful energy to serve this country. The despicable contrast is that those responsible for the mess - those elected to take care of them - have abandoned the national currency and are living in opulence. Like kings, our leaders spend dollars to buy delegates as well as houses all over the world. Meanwhile, they owe most workers, lecturers and retirees. Nigeria has become a butt of dinner jollity among other nations. Yes, our country stands hijacked by forces of retrogression. We are almost zero in all indices of development. As a

result, our future, especially those of the youth and generations unborn is in ruins. We have become a laughing stock among other nations, including African countries where we were once revered. Labour Party, as one that represents the workers and masses of this great nation has the well being of all at heart. We are working for the economic rebirth of the country. As I am nominated today, I humbly proclaim that the journey towards the emancipation of the country has begun. I note with humility that the journey is going to be a collective one that will certainly require the cooperation of critical stakeholders in our country, especially the youth, whose future has been thoroughly degraded. I therefore thank all Nigerians of goodwill and call for your sustained support towards returning Nigeria to Nigerians from forces of bad leadership and retrogression. Such a noble tasks brooks no conscientious objectors. I hardly use war metaphors for political analysis due to my belief that politics is not adversarial and not war. However permit me a little indulgence here, to relate what we are embarking on to the ancient battle of Thermopylae, where the *UHHN IRUFHV FRQVFLRXV RI À JKWLQJ IRU WKH life of Greece held on against great odds in the defence of their country. In the battle to re-take Nigerian, the odds are great and seemingly insurmountable, but with our commitment, patriotism and understanding that we are doing, what we are supposed to do for our country, lest she shall die, we shall move on discontent with what is and focused on enthroning what ought to be. In doing this, our battle cry shall remain: get your PVC and become part of this great libration! Our governance mission will be twin-tracked. Secure Nigeria in every UDPLÀ FDWLRQ QDWLRQDO VHFXULW\ KXPDQ security, food security and tackling insecurity created by unemployment. We will also seek to unite our nation by pulling our people out of poverty, and creating a new sense of nationalism and patriotism. Nigeria shall rise again: and her people will be proud to claim ownership of her patrimony. Doing so is in our collective national interest. As I earnestly thank Nigerians for their faith in me. In the days ahead I will publish our governance manifesto, which will spell out our top governance priorities. I assure you that no region; state, local government or communities will be left behind. I also assure you all that the struggle continues and that victory is certainly in sight towards the guarantee of a meaningful future for our youths and making this country a respected and viable member of a 21st century world, that places high value on production over consumption.

Excerpts from Mr. Peter Obi’s speech after his nomination as the presidential Á DJ EHDUHU RI /DERXU 3DUW\ DW $VDED Delta State

VICTOR C. ARIOLE contends that leadership value determinants in Nigeria are money, trust and followership

PDP FAÇADE OF TRANSPARENCY AND OTHER ISSUES As long as we cannot address the issue of leadership emerging as a result of giving bribe to delegates we can’t get it right …. Senator Shehu Sani on Channels TV Go and meet the man who is our commander, delegates tell Ohuabunwa. The presidential primary of PDP has come and gone but candidates like Mazi Sam Ohuabunwa and Senator Shehu Sani will live long to tell the tales, as more tales are expected from “Stomach Infrastructure” Fayose and Moneybag Wike for a better understanding of what happened. However, the main issues are the “commanders” and the bribes, as alleged by the participants, to have coated a façade on a rotten skeletal system. That rotten skeletal is what Seun Akimbaloye revealed on his programme as the mathematical calculation that ought to usher in tactical operation, creating a done-deal in favour of :LNH EHIRUH WKH À HOG RSHUDWLRQ RI 7DPEXZDO the son of Njewal – the witch - landed the last blow on, that broke the Carmel’s back. No matter how good a façade looks like, a weak skeletal will make it corrosive in no far distance, like a leaking roof created by a weak rafter. Like Wike’s impetuous and bold mathematical equation, like Tambuwal’s factorial disruption, the strings and main frames that hold the roof of the PDP umbrella is still VXͿ HULQJ IURP VNHOHWDO ZHDNQHVV , OLNH WKH way French people express what English put as skeletal – Les Gros Oeuvres (the main structures or the main frameworks). And, in deed, the main frameworks for a winning formula as expressed by Seun gave it out in favour of Wike a week before the election and as buttressed, further, by a lady delegate interviewed by Tope on Arise TV, it was also seen as Wike’s day on the convention arena before Tambuwal’s disruptive factor. Such disruptive factor is what Nigerians should look out for as the quest for 2023 president continues its march. Here, a good strategy failed to make room for operational and tactical disruptions. Tambuwal announcement was against campaigning rules that expect campaigning, canvassing for votes, to end, openly, 24 hours to election date. The main issue here, again is the strength or weakness of the PDP’s choice, as disruptive factors play out. Let legal issues not join it also. On the Nigerian turf, Atiku is a great strategist who knows the ins and outs of Nigeria’s political terrain as well as the economic landscape or ecology. Among the contestants, it must be given to him as the most meritorious while awaiting any integrity test of his person for either debunking it or for acclamation. However, it was surprising to me that he could not garner half of the total accreditable 774 votes if 774 LGAs are the total sum, or even the announced 764 votes. /HW XV DVVXPH WKDW )D\RVH WUDGHG RͿ DOO WKH Ekiti votes as the commander to win a greater stomach infrastructure going by Ohuabunwa’s speculation of a $20k – base bargain that could reach $35k, to Atiku, and that all the northwest or its fragment as seen in Kano’s delegates’ voting or absconding patterns, went to Atiku, it is still a great concern for PDP’s survival if made to face the whole Nigeria. Nigeria voting pattern expects you to win outright majority of the votes cast even if it LV PHUH À UVW SDVW WKH SRVW EDVLV DQG DV ZHOO garner 1/3 of votes cast in 24 states; so how would someone who could not get past the post

at primary level ensure victory at secondary level, national. The implication is that leading Nigeria is either expressed or unexpressed consensus arrangement leading to the appeasement or the disregard of any opposing voice. The strong opposing voice in this PDP case is Wike, and it could have been Atiku if Wike strategy worked. In whichever way, that value matrix that determines the expected make-up of a Nigerian leader is not exclusively money like insinuated by Ohuabunwa as being the culture, for now, of determining who rules Nigeria. Even Senator Shehu Sani agrees that at the time he emerged as the Senator of the most populous place in Kaduna under APC, there was no money factor disrupting his winning plan, it was mostly trust factor that gave it to him. However, under PDP, for the gubernatorial quest, which he contested, the main factor was hinged on $3K for each delegate which was not factorable in his own winning game plan. It takes indeed Chamberlain of Channels to stir-up such muckraking. The take-away items in the PDP presidential primary are that leadership value determinants in Nigeria are: money, trust and followership. Money was available for both Atiku and Wike; the source is what needed to be probed E\ 1LJHULD·V À VFDO DXWKRULWLHV 7UXVW ZDV ZKDW Tambuwal brought in, in favour of Atiku and it says a lot about politics of immediate interest as against permanent interest, and may-be money was also a factor, no one can say. Four years ago, Wike was on the side of Tambuwal to attempt at disrupting Atiku’s winning streak, it did not work. This year, Tambuwal threw his weight behind Atiku to defeat Wike, and at great expense to PDP trust factor for DQ LPPHGLDWH JDLQ JUDWLÀ FDWLRQ RI KLV EDVH as a commander. The followership factor was neither here nor there for both contenders. Internally, Wike has been the bulwark that kept PDP going after it receded to an opposition party. Hence he became a rallying points for other weaklings in PDP as both legal DQG À QDQFLDO EXUGHQ ZHUH KHDSHG RQ 3'3 DQG an arrowhead was needed to show capacity to overcome the turbulent moments. Consistency and faithfulness had been his greatest strength. In contrast, Tambuwal and Atiku had been in and out of PDP looking for greener pastures. Hence, quite unfaithful to PDP but faithful to the Nigerian political culture that does not frown at cross-carpeting or changing parties DW ZLOO 6DUDNL Á RFNV ZLWK WKHP KHQFH ELUGV RI the same feathers. Other fringe candidates like Anyim, Udom and Mohammed – great PDP faithfuls – seem to buttress the fact that crosscarpeting culture in Nigeria’s politics is not a big deal. I expected PDP followers, among the delegates, to accord them great respect and it did not happen hence the questionability of the delegates’ integrity. Yes, the integrity of delegates matters also. Indeed, the delegates were merely obeying their commanders’ voice and if it is how leadership must be selected in Nigeria, then it is neither for patriotic Nigerians nor for servant – leader minded Nigerians. So which way Nigeria – servant leader President or mercantile-minded President? Ariole is Professor of French and Francophone Studies at University of Lagos

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T H I S D AY

TUESDAY MAY 31, 2022

EDITORIAL

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

PARTY PRIMARIES AND PUBLIC EXPECTATIONS Public oﬃcers should do what is right

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From whatever perspective it is viewed, the ongoing monetisation of politics is antithetical to the development of the country 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

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LAWYER A

TUESDAY, MAY 31, 2022

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& RE A S O

WEEKLY PULLOUT

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& RE A S O

SOOB LAW

DELE BELGORE, SAN

JIDE OGUNDIPE

EBUN SOFUNDE, SAN

YEMI AKANGBE

‘Restrict Right of Appeal to Apex Court’

TUESDAY, MAY 31, 2022 ˾ T H I S D AY

IN THIS EDITION

R E Y W A L A

LLOUT WEEKLY PU

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Joint Execution of an Unlawful Purpose: Criminal Responsibility Therein

31, 202 2 TUE SDAY, MAY

SOOB LAW

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E YEMI AKANGB E, EBUN SOFUND

SAN

E JIDE OGUNDIP

t h g i R t c i r ‘Rest o t l a e p p A f o ’ t r u o C x e Ap

, DELE BELGORE

SAN

QUOTABLES ‘This whole “we don’t negotiate with Terrorists”, is actually a lie. The whole idea of a responsible government, is to ensure that the lives of the hostages are preserved….If they are asking for a prison swap, give it to them.’ - Tundun Abiola, Lawyer, Anchor, The Morning Show, Arise TV

NBA Signs MoU With Access, First Bank to Help Lawyers Access Funds

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‘…..Non-State actors like armed bandits, kidnappers, Boko Haram, societal miscreants - they now possess equal, at times, more potent power than the legitimate government. They challenge the sovereignty of Nigeria, as an independent State.’ - Dr Mike Ozekhome OFR, SAN Kubi Udoﬁa PhD Kubi Udofia holds a Doctorate degree in Law from The University of Nottingham, a Certificate in International Risk Management from the Institute of Risk Management, London, a Masters degree in Corporate Law from University College London and a Bachelors degree from University of Uyo in Nigeria. He is a leading and an acknowledged expert, in corporate restructuring and insolvency law in Nigeria. As a scholarpractitioner, Kubi Udofia has extensively researched and written on a broad spectrum of topical issues in corporate restructuring and insolvency law. He is a seasoned transactional and dispute resolution specialist, with extensive knowledge and practical experience in corporate and commercial law. He is a Partner at Babalakin & Co, a leading commercial law firm in Nigeria.

LAWYER

ONIKEPO BRAITHWAITE: EDITOR, JUDE IGBANOI: DEPUTY EDITOR, PETER TAIWO, STEVE AYA: REPORTERS

III

T H I S D AY ˾ TUESDAY, MAY 31, 2022

GUEST COLUMNIST

GEORGE OLATUNDE BABALOLA, SAN, FCARB tbabs2000@yahoo.com

Pre-Election Matters Under the New Electoral Dispensation Simplified Meaning of Pre-Election Matters lection litigation is bound to occur in an electoral process. This is because, before every General Election is conducted in Nigeria, the Political Parties are required by law to conduct internal primary elections to nominate candidates that will represent them at the election. Disputes often arise from issues of qualification, disqualification, nomination, substitution, conduct of primaries and sponsorship of candidates for the election. These are pre-election matters. Thus, pre-election matters occur from preparations towards the general election. In other words, preelection matters are, as the name implies, matters that occurred before the election itself. “They are live issues that must be heard and a judgement delivered. Litigations arising from party primaries, e.g., substitution of candidates. Complaints about the conduct of primaries are pre-election matters.” - per Rhodes-Vivour J.S.C. in A.P.C. v LERE (2020) 1 NWLR (PT. 1705) 254 @ 279. Therefore, matters arising from disputes which arise before the election are referred to as pre-election matters. The following matters have been classified by the courts as pre-election matters: (1) nomination of candidate (2) double nomination of a candidate (3) disqualification of a candidate (4) wrongful substitution of a successful candidate’s name by the Electoral Body (5) wrongful omission of a successful candidate’s name by the Electoral Body (6) complaints about the conduct of primaries (7) false declaration on oath about particulars of a candidate. See APC v LERE (SUPRA), MODIBO v USMAN (2020) 3 NWLR (PT. 1712) 470 @ 500 – 515, GBILEVE v ADDINGI (2014) 16 NWLR (PT. 1433) 394.

decision or action complained in the suit". This provision has come up for consideration before the Supreme Court in a plethora of cases. See GARBA v APC (2020) 2 NWLR (PT.1708) 345 @ 360. The application of the above constitutional provision has resulted in the dismissal or striking out of many cases in court for being statute barred, (even though there is a reasonable, genuine and compassionate cause of action), where the matters are filed outside the prescribed time limit of 14 days. Hence, it is very critical for pre-election matters to be filed within 14 days of the accrual of the cause of action, otherwise no matter how compelling or compassionate the case of the litigant is, the matter will be statute barred and struck out or dismissed by the Court.

Importance of Pre-Election Matters The importance of pre-election matters cannot be overemphasised, as they are live issues which must be determined by the court and judgement delivered even after the election has been conducted and a candidate has been sworn-in to occupy an exalted position, such as a Senator, member of the Federal House of Representatives or Governor. This is corroborated by what transpired after the 2019 General elections, when a Governor was ousted before the swearing-in ceremony, some Senators and Members of House of Representatives were ousted by the Supreme Court, on account of pre-election matters after taking oath of allegiance and after the inauguration ceremony. See P.D.P. v DEGI-EREYMIENYO & ORS (2020) 1 -2 SC (PT. 1), A.P.C V. LERE (supra) and MODIBO v USMAN (supra). Constitutional Provisions for Pre-Election Matters The Constitution of the Federal Republic of Nigeria, 1999 (as amended) (hereinafter referred to as CFRN) makes provisions for pre-election matters, and gives its definition. See Section 285(14) of the CFRN. The said provision of Section 285(14) of the CFRN has been judicially considered by the Supreme Court in the cases of APC v UMAR (2019) 8 NWLR (PT. 1675) 564, KUSAMOTU v APC (2019) 7 NWLR (PT.1670) 51. See also, the Supreme Court decision of APC v DELE MOSES & ORS (2021) 14 NWLR (PT 1796) 278 @ 319 PARAS E-G, Per Augie J.S.C., where the Apex court summarised the meaning of pre-election matters under Section 285(14)(a) -(c) of the CFRN. Analysis of the Constitutional Provision of Section 285(14) of the CFRN By the said provision of Section 285(14) of the CFRN, it recognises three different types of pre-election matters under paragraphs (a) - (c). (1): Paragraph (a): deals with the complaint by an aspirant (directed at his political party), that there has been failure to comply with the Electoral Act, party constitution or party guidelines in the

Chief Justice of Nigeria, Hon Justice Ibrahim Tanko Muhammad CFR conduct of the party’s primary election, in respect of selection and nomination of candidates for the said primary election. The Court has held that in the conduct of its primaries, it will never allow a political party to act arbitrarily. A party must obey its own constitution. See UZODINMA v IZUNASO (NO.2) (2011) 17 NWLR (PT. 1275) 30, APC v LERE (supra). (2): Paragraph (b): deals with the complaint by an aspirant, [directed at the Independent National Electoral Commission, (INEC)], that actions, decisions or activities of INEC did not comply with the Electoral Act, or complaint that the provisions of the Electoral Act or any Act of the National Assembly pertaining to selection or nomination of candidates and participation in an election, have not been complied with by INEC. In other words, this covers complaints about INEC not complying with the provisions of the CFRN and the Electoral Act, pertaining to selection or nomination of candidates and participation in an election. It deals with aspirants who challenge actions, decisions or activities of INEC in respect of their participation in an election. See APC v DELE MOSES & ORS (supra). Thus, an aspirant can rightfully seek redress in court for any of the above infractions by INEC. Typical examples are registration of voters, delineation of constituencies, formation of political parties, updating of voters’ register, regulation of the conduct of political parties etc. (3): Paragraph (c): deals with cases by a political party (directed at INEC) for its administrative decisions or actions regarding a party's candidate's nomination or disqualification. It includes suits by a political party in connection with an election time table, registration of voters and other activities of INEC regarding preparation for an election. In other words, paragraph (c), deals with political parties that challenge actions, decisions or activities of INEC in respect of nominations of candidates for an election, timetable for an election, registration of voters and other activities in respect of preparation for an election. See APC v DELE MOSES & ORS (supra). Analysis of the Provisions of the Electoral Act 2022 on Pre-Election Matters The provisions of Section 285(14) of the CFRN in defining a pre-election matter, is not exhaustive.

“Hence, it is very critical for pre-election matters to be ﬁled within 14 days of the accrual of the cause of action, otherwise no matter how compelling or compassionate the case of the litigant is, the matter will be statute barred….”

Thus, it is humbly submitted that pre-election matters can emanate from other sources in law. This is now contained in Section 29(5) of the new Electoral Act 2022 (EA) which provides thus: “Any aspirant who participated in the primaries of his political party, who has reasonable grounds to believe that any information given by his political party’s candidate in the affidavit or any document submitted given by that candidate in relation to his constitutional requirements to contest the election is false, may file a suit at the Federal High Court against that candidate seeking a declaration that the information contained in the affidavit is false”. The order that the court will make, is provided for in Section 29(6) of the EA. Similarly, Section 84 (14) of the EA provides thus: “(14) Notwithstanding the provisions of this Act or rules of a political party, an aspirant who complains that any of the provisions of this Act and the guidelines of a political party have not been complied with in the selection or nomination of a candidate of a political party for election, may apply to the Federal High Court for redress”. Accordingly, the above provisions create another species of a pre-election matter, which now only clothes any aspirant who participated in the primaries of his political party with the requisite locus standi (capacity to sue) to challenge the information supplied by a candidate of his political party and to challenge the conduct of the primary election of his political party before the election. By the current position of the law, only aspirants are conferred with the requisite locus standi to institute pre-election matters in court under Sections 29 (5) and 84(14) of the EA. Thus, any aspirant who participated in the primaries of his political party and believes that his political party’s candidate has furnished false information in his affidavit on oath or any document, inclusive of his nomination form to INEC, may institute an action against him only in the Federal High Court. Please note that, the EA has limited institution of such pre-election matters only to the Federal High Court. Constitutional Provision on Limitation of Time for Commencement of Pre-Election Matters in Court It is pertinent to note that the CFRN provides for limitation of time for the commencement of pre-election matters under Section 285(9) thereof. It provides thus: "9) Notwithstanding anything to the contrary in this Constitution, any pre-election matter shall be filed not later than 14 days from the date of the occurrence of the event,

Constitutional Provision on Limitation of Time for Hearing and Determination of Pre-Election Matters There is a constitutional provision for the time limit, within which to hear and determine a pre-election matter. That is the time within which the case must be heard, and judgement delivered. This is because in election related matters, time is of the essence. Thus, Section 285(10) of the CFRN stipulates thus: "A court in every pre-election matter shall deliver its judgement in writing within 180 days from the date of filing of the suit". The importance of this provision cannot be overemphasised, as cases (even though compelling) have also been struck out or dismissed by the appellate courts as the case was heard and determined outside the prescribed time limit of 180 days. See USMAN ABUBAKAR TUGGAR v ADAMU MUHAMMAD BULICA CHUWA & ORS (2019) LPELR 47883 Constitutional Provisions on Limitation of Time for Filing, Hearing and Determination of appeals in Pre-Election Matters Finally, there are also constitutional provisions on limitation of time for filing, hearing and determination of appeals in pre-election matters. Hence, Section 285(11) of the CFRN provides: “An appeal from a decision in a pre-election matter shall be filed within 14 days from the date of delivery of the judgement appealed against”. Also, the provision of Section 285(12) of the CFRN provides: “An appeal from a decision of a court in a pre-election matter shall be heard and disposed of within 60 days from the date of filing of the appeal” Hence, the above two constitutional provisions govern limitation of time regarding filing, hearing and determination of appeals in pre-election matters. Accordingly, pre-election matters have been struck out by the appellate courts on the ground that the appeal was not filed within the stipulated period of 14 days or was not heard and determined within 60 days. See TOYIN v MUSA (2019) 9 NWLR (PT. 1676) 22. Conclusion In view of the foregoing, it is pertinent to note that there are two categories of pre-election matters, namely (1) pre-election matters as provided for by the CFRN and (2) pre-election matters as provided for in the Electoral Act, 2022. One fundamental observation and difference, is the locus standi to institute the actions for the two categories. As for the provision of Section 285(14)(c) of the CFRN, it appears that locus standi to file a pre-election matter thereunder is not for aspirants, but for political parties that are aggrieved by INEC’s actions etc. It gives room to political parties to challenge actions, decisions or activities of INEC in respect of nominations of candidates for an election, timetable for an election, registration of voters and other activities in respect of preparation for an election. It is posited that this can be explored by a political party, to challenge the nomination of candidates of another political party. Whereas, the second category as enshrined under Sections 29(5) and 84 (14) of the Electoral Act, 2022 confers locus standi on aspirants only. Therefore, it is crystal clear that pre-election matters occupy a very sensitive and significant position in the Nigerian Electoral Law. Therefore, the political parties, candidates and the electoral umpire, INEC, must ensure that they follow the rules and regulations under the laws. Their watchword must be fairness, justice and adherence to the provisions of the Electoral laws.

IV LAW REPORT

TUESDAY, MAY 31, 2022 ˾ T H I S D AY

Joint Execution of an Unlawful Purpose: Criminal Responsibility Therein Facts The Respondent was the Chairman of the Task Force of the Youths Association of Amaorie Ozziza Community in Afikpo North LGA of Ebonyi State. On 18th September, 2016, they called a meeting of the youths in the community to discuss the building project which was under construction, with a view to completing it. To ensure adequate representation/number of youths, the Respondent led members of the Youth Task Force to go out and compel the attendance of youths of the Community who disobeyed a summons issued earlier for a meeting of the youths. They invaded the home of one Ali Agha, armed with sticks, machetes and axe, to compel him to attend. In the process of compelling Ali Agha to follow them, they inflicted multiple machete cuts on his body and this led to his death. The Police was informed that a certain Ejike Obiahu killed the deceased. However, the Respondent and eight other members of the Task Force were arrested in connection with the incident, and arraigned before the High Court of Ebonyi State on a one count charge of murder contrary to Section 319(1) of the Criminal Code Law of Ebonyi State. At the conclusion of trial, the court convicted the Respondent and his co-accused persons for the offence of murder, and sentenced them to death by hanging. Dissatisfied with the judgement, the Respondent filed an appeal to the Court of Appeal, which court agreed with the trial court that the evidence adduced by the prosecution proved that the deceased was murdered. The Court of Appeal, however, held that the prosecution failed to prove that the Respondent had a common intention with the other youths to invade the deceased’s residence, or that he participated in the act that resulted in the death of the deceased. The appellate court thereby, allowed the Respondent’s appeal and quashed his conviction and sentence. Aggrieved, the Appellant filed an appeal before the Supreme Court. Issue for Determination The Supreme Court determined the appeal on the sole issue formulated by the Appellant as follows: Whether considering all the evidence placed before the court, the Court of Appeal was right in holding that the Appellant failed to prove its case beyond reasonable doubt. Arguments Counsel for the Appellant submitted that by a proper interpretation of Sections 8 and 9 of the Criminal Code Law of Ebonyi State, the Respondent, having participated in the invasion of the deceased’s house, should not have been exculpated from criminal responsibility for the murder of the deceased. Counsel contended that the Court of Appeal was wrong to have exculpated the Respondent from responsibility for the murder of the deceased, despite having concurred with the decision of the trial court that the invasion of the deceased’s residence by the accused persons, including the Respondent was

Honourable Emmanuel Akomaye Agim, JSC In the Supreme Court of Nigeria Holden at Abuja On Friday, the 10th day of December, 2021 Before Their Lordships Mary Ukaego Peter-Odili Ejembi Eko Mohammed Lawal Garba Ibrahim Mohammed Musa Saulawa Emmanuel Akomaye Agim Justices, Supreme Court SC.1149C/2019 Between THE STATE

And

SUNDAY OKO CHUKWU

APPELLANT RESPONDENT

(Lead Judgement delivered by Honourable Emmanuel Akomaye Agim, JSC)

wrong, and it was in the process that the deceased was killed. He submitted that the decision of the Court of Appeal was perverse, and not borne out of the records of the court. He urged the Supreme Court to set aside the said decision, and restore the judgement of the trial court. On the other hand, counsel for the Respondent submitted that there were inconsistencies and material contradictions in the case of the prosecution which created doubts about the guilt of the Respondent, and thereby warranted his discharge and acquittal by the Court of Appeal. He argued that the Appellant failed to prove that the Respondent was complicit, or acted in concert with other accused persons to jointly commit the offence of murder of the deceased. He submitted further that the prosecution had failed to prove the guilt of the Respondent beyond reasonable doubt, hence the Court of Appeal was right to have reached the decision. Court’s Judgement and Rationale

“…..when two or more persons form a common intention to prosecute an unlawful purpose in conjunction with one another, and in the prosecution of such purpose an offence is committed of such nature that its commission was a probable consequence of the prosecution of such purpose, each of them is guilty of committing the offence”

Determining the sole issue, the Supreme Court referred to the provisions of Section 8 of the Criminal Code Law of Ebonyi State which provides that, when two or more persons form a common intention to prosecute an unlawful purpose in conjunction with one another, and in the prosecution of such purpose an offence is committed of such nature that its commission was a probable consequence of the prosecution of such purpose, each of them is guilty of committing the offence. The court relied on its earlier decision in UBIEIHO v THE STATE (2005) 2 SC (Pt. I) 18. The court held further that it is not a requirement for each participant in the prosecution of the unlawful purpose to have had the intention to commit the crime that was committed in the joint prosecution of that unlawful purpose, before such participant can be convicted for the said crime. What the law requires is that, the said offence committed in the joint execution of the unlawful purpose must be of such nature that its commission was a probable consequence of the prosecution of such purpose. In the circumstance, what each of them did in furtherance of the commission of the offence is immaterial - NWANKWOALA & ANOR. v THE STATE (2006)

LPELR – 2112 (SC). Their Lordships reasoned that where the common intention to prosecute an unlawful purpose is not expressed by the group, it can be inferred from their joint execution of the unlawful purpose and the crime committed in the joint execution of an unlawful purpose need not be the common purpose that was commonly intended by the joint action. What matters is that the crime so committed in the joint execution of the unlawful purpose, is a probable consequence of the execution of the unlawful purpose. Every participant in the joint execution of the unlawful purpose will thus, be deemed to have committed the crime irrespective of their specific role in the joint execution of that unlawful purpose. Relating the principles above to the case, the Apex Court held that the common intention to carry out that joint execution was established by the unchallenged evidence showing the decision of the Respondent and other members of his group to go and compel the other youths, including the deceased, to attend the meeting, and the evidence of their participation in the joint invasion of the deceased’s residence to force him to attend their meeting. In their joint invasion of the home of the deceased to force him to attend their meeting, which in itself is an unlawful purpose, and considering the nature of things done by the invaders during their execution of this unlawful purpose, each of them became responsible for anything done by any member of the group to force the deceased to attend their meeting. In a concerted attack to prosecute an unlawful purpose, it is not the law to look for the person who struck the lethal blow. Everyone who partakes in the attack, is equally guilty of the crime committed during prosecution of that unlawful purpose. Given that the killing of the deceased is a probable consequence of what the Respondent and other members of the youth task force did in the joint prosecution of their unlawful purpose, each member of the youth task force that invaded the deceased’s house is guilty of the murder, irrespective of who inflicted the actual machete cut that killed him. The question whether each individual participant in the joint invasion had the intention that the deceased, Ali Agha, should be killed or injured during the invasion or process of compelling him to attend the meeting, is irrelevant in determining the criminal responsibility of each member of the group for the killing or injury of the deceased by their acts to force him to attend their meeting. Appeal Allowed. Judgement of the trial court convicting the Respondent for murder and sentencing him to death, restored. Representation A.O. Odum Esq. with T. Gbashima and F.D. Okeoga for the Appellant. Roy O.U. Nwaeze Esq. with Maxwell Ezumezu for the Respondent. Reported by Optimum Publishers Limited! Publishers of the Nigerian Monthly Law Reports (NMLR)(An affiliate of Babalakin & Co.)

TUESDAY, MAY 31, 2022 ˾ T H I S D AY

NEWS

L-R: Member, NBA Finance Committee, Tobenna Erojjkwe; Chairman, NBA Finance Committee, Seni Adio, SAN; MD/CEO, Access Bank, Roosevelt Ogbonna; NBA President, Olumide Akpata and Deputy Managing Director, North, Access Bank, at the MoU signing agreement between Access Bank and NBA held at the Access Bank Head Oﬃce, Lagos last Friday

NBA Signs MoU With Access, First Bank to Help Lawyers Access Funds Stories by Steve Aya The Nigerian Bar Association (NBA) has signed a Memorandum of Understanding (MOU) with First Bank of Nigeria and Access Bank, to assist Lawyers who may require loans to meet their working capital and operational needs. The signing of the MOU is in line with the NBA’s access to finance scheme for members as promised by the NBA President, Olumide Akpata, during the NBA electioneering campaign in 2020. The scheme will enable eligible Lawyers to borrow from the two designated commercial

banks. “We are standing in the gap with the bank, on behalf of our members. We all know what access to finance can do for any business, and law is a business. Access to finance will help increase the capacity of our members, and help expand their businesses and do more. These are tough times for the economy, and we know that with little extra money we will be able to achieve our objectives”, Akpata said after signing the MOU. The NBA President said the scheme is open to every financial member of the Association, who is up to date

in the payment of dues. The scheme is structured to enable borrowings of up to N2 million by NBA members, at an interest rate of 9%. The loan has a tenor of up to three years, he said. To be eligible for the loan, the Lawyer will need to provide the participating banks with evidence of payment of practising fees and NBA Branch dues for three years (the year of application and the two years preceding that); signed but undated cheques from the Lawyer’s bankers for

the value of the amount borrowed, a letter from the Lawyer irrevocably domiciling his/her salaries, or law firm receivables with the participating bank, a letter of good standing from the NBA, a copy of Call to Bar certificate of the borrower (in the case of an individual), or of the partners (in the case of a partnership), among other requirements. The maximum amount available to each Lawyer depends on a needs assessment and creditworthiness

of the Lawyer, and will be agreed between the Lawyer and the participating bank, but for proper risk management, will not exceed the sum of N2million per borrower. On the risk of members not paying back the loans, Akpata said measures have been put in place to mitigate the risk. One such measure is that the scheme is backstopped or cash-backed by up to N1.5 billion linked to the NBA Stabilisation Fund. “Even with best intentions,

even if the individual means to pay back, anything can happen. So, we have put structures in place to ensure that; this is why we are standing in the gap, it’s all about risk allocation. NBA is carrying some risk, the bank is carrying some risk, the individual is carrying some risk”, Akpata said. “I think we have had it pretty much worked out. We want to approach this with that mindset that, since we have done our homework, all will be well”, he said.

Supreme Court Upholds Lower Court’s Court Sends Ex-Cop to Judgement on Justice Nganjiwa’s Trial

Life Imprisonment for Defiling a Nine Year Old

Steve Aya

Justice Abiola Soladoye, of an Ikeja Domestic Violence and Sexual Offences Court, has sentenced a dismissed Policeman, Mohammed Alidu, to life imprisonment for defiling a nine-year-old schoolgirl in the Barracks In her judgement, Justice Soladoye, held that Alidu was a disgrace to the Police because he failed to uphold law and order, and went about frolicking with an underaged girl. She maintained that the Prosecution had convincingly proved the charge of defilement against the Convict, beyond any reasonable doubt. She said the survivors’ evidence, was fully corroborated by the medical evidence. “The evidence of the survivor, is the most cwredible evidence in identifying the perpetrator. “The vivid and oral testimony of the survivor, satisfies the court that the Prosecution has proved every inch of the ingredients. “He is a disgrace to the entire Police, because he failed to uphold law and order as he went on a frolic of his own by engaging in bizarre and irresponsible behaviour turning

the Barracks into a sex den. “It is most chilling. The Defendant is hereby sentenced to life imprisonment, without the option of a fine. “He should have his name entered in the Sex Offenders Register of the Lagos State Government”, the Judge held. Four witnesses testified against Alidu, during the trial. The Prosecution team, Mr Olusola Soneye, Mrs Olufunke Adegoke, and Ms Abimbola Abolade, had told the court that Alidu committed the offence on June 29, 2018, on Makinde Police Barracks Road, Mafoluku, Oshodi. They told the court that the Survivor was on her way to school, when Alidu grabbed the Survivor into a wooden house and defiled her. They submitted that the Defendant was apprehended, after the Survivor reported the case at the Police station. The Prosecutors said the Defendant confessed to defiling the Survivor, blaming it on the devil, but later denied it as an afterthought. The Prosecutors said the offence contravened Section 137 of the Criminal Law of Lagos State, 2015.

Steve Aya

The EFCC lost its appeal, as the Supreme Court on Friday, upheld the December 2017 judgement of the Court of Appeal, Lagos which quashed the corruption charge against Justice Hyeladzira Nganjiwa of the Federal High Court, on the grounds that he was a serving Judge. The Court of Appeal had in its judgement, held that under Section 158 of the Constitution, it is only the National Judicial Council (NJC) that has the power to deal with

allegations of misconduct against a serving Judge, and that such a Judge could only be tried in the regular court after the recommendation of the NJC. In their judgement, the seven-member Panel of Justices of the Supreme Court upheld the decision of the Court of Appeal, and dismissed the appeal by the Economic and Financial Crimes Commission (EFCC), the agency that was trying Nganjiwa. The Apex Court held that the appeal lacked merit. Justice Centus Nweze wrote

the lead judgment, which was read by Justice Adamu Jauro. The EFCC, in a 14-count charge, accused the Judge of receiving $260,000 and N8.65 million “from suspicious sources” through his bank accounts between 2013 and 2015. It equally accused Justice Nganjiwa of using the money to enrich himself as a public officer, contrary to Section 82 (a) of the Criminal Law of Lagos State, 2011. The EFCC further accused him of giving false information to its agents. The Judge was arraigned

before Justice Adedayo Akintoye of the High Court of Lagos State in Igbosere on June 23, 2017, during which he pleaded not guilty. Justice Nganjiwa later challenged the competence of the charge through a notice of preliminary objection, which the High Court rejected. On appeal, the Court of Appeal in Lagos upheld his appeal and quashed the charge before the High Court of Lagos, a decision the Supreme Court upheld in its judgement on Friday in the appeal marked: SC/794/2019 filed by the EFCC.

PHOTO NEWS

NBA President, Olumide Akpata and his heartthrob, Osayamon Ogbebor taking their marriage vows before the Registrar on Friday, May 27, 2022 in Lagos

L-R: Ewiyisi Akpata, George Etomi, NBA President, Olumide Akpata and Oghogho Akpata at the traditional marriage ceremony of Olumide Akpata & Osayamon Ogbebor which took place in Benin City, Edo State on May 14, 2022

#upjudicialsalaries “The pertinent question to ask is: who is in dereliction of the constitutional duty to review remuneration, salaries and allowances of judicial ofﬁcers since 2007? The NJC and the Federal Judicial Service Commission, as well as the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) should synergise and introspect, and tell the world why the dereliction since 2007.” - Honourable Justice Ejembi Eko JSC (Rtd)

TUESDAY, MAY 31, 2022 ˾ T H I S D AY

TALKING CONSTITUTIONAL DEMOCRACY DR. MIKE OZEKHOME, SAN

0809 889 8888 SMS ONLY

Presidential Pardon vs Presidential Impunity (Part 1) Introduction The recent presidential pardon made by President Muhammadu Buhari, in favour of two high profile politically exposed convicts in the persons of former Governors Joshua Dariye of Plateau State and Jolly Nyame of Taraba State, stirred the hornet’s nest and ruffled political and moral feathers across Nigeria. Unexpectedly, this is due to the fact that both men were convicted for offences allegedly committed between November 2000 and May 2007, after full trials that ran for many years. Most Nigerians believe that both men, having been properly convicted after full trials using State resources from taxpayers’ money, ought to have been made to serve their full punishment in accordance with our criminal justice and penal systems of justice delivery. They (including my humble self), believe that the presidential pardon amounted to a presidential endorsement of criminality and stealing of our public funds by persons entrusted with managing such funds, for the good of their people who voted them into office. Crimes are vices that should not be tolerated in any society. They are offences against the State, and are punishable under the law. The essence of punishing people convicted of crimes is to serve the criminal just dessert, make restitution to the victims and deter other people from engaging in criminal activities, amongst others. Sometimes, the President and Governor of a State may decide to show the milk of human kindness to people already found guilty of crimes. This practice is, respectively, sanctioned by Sections 175 and 212 of the Constitution of the Federal Republic of Nigeria, 1999, as altered. This practice is even Biblical. For example, Pontius Pilate wanted to grant pardon to Jesus Christ. But, when the mob protested, he released Barnabas instead of Jesus (Mark 15:6). Pardon is an unusual show of kindness, to people whom the State has already condemned for certain ignoble acts they committed. Pardon is a loud statement. The meaning of the statement, is determined by the context and circumstances of the act. For example, in a State where there is a high record of kidnapping and cyber fraud, showing mercy to people convicted of kidnapping and cyber fraud could be construed as State connivance, or an impetus for offenders to commit more of such crimes. Nigeria, for example, is rated the 149th out of 180 most corrupt countries in the world, and the second most corrupt country in West Africa by Transparency International (TI), under its anti-Corruption Perception Index. Granting pardon to people convicted of corrupt practices, whether still serving or having served, may be construed as a tacit approval of such corrupt practices. This becomes more worrisome, under a government which made fighting corruption one of its tripodal mantras. Today, we shall commence our discourse on this vexed issue that has enlisted public interest, outrage, hoopla and ruckus. Meaning of Presidential Pardon A pardon is an executive order, granting clemency for a conviction. It may be granted “at any time” after the commission of the crime. In strict constitutional jurisprudence, the exercise of pardon power amounts to an interference by the executive with the exercise of judicial power. This is in breach of the hallowed doctrine of separa-

Former Governor of Plateau State, Joshua Dariye

tion of powers, ably espoused in 1748 by the great French Philosopher, Baron de Montesquieu. However, such interference is permitted, where it is authorised by this same Constitution that provides for the doctrine of separation of powers. This right of pardon is granted to the Governor and the President, respectively, under Sections 212(1) and 175(1) and (2) of the Constitution, and is legally available to all classes of convicts in Nigeria. It can be obtained by a convict who applies to a Governor or the President, as the case may be, for grant of the prerogative of mercy or pardon in his favour, either personally or through a Solicitor, or even through the prison authorities where he or she is incarcerated and is serving term of imprisonment. For the purpose of exercising this power, Section 153(1)(b) of the Constitution establishes the “Council of State,” which advises the President in the exercise of his prerogative of mercy. The Council, as a Government agency, is composed of highheeled and distinguished Nigerians who are believed to be the have full complement of the country's ethos. Thus, although the President's powers in this area are not subject to the strict approval of the Council of State, he cannot act unilaterally, whimsically, capriciously and arbitrarily. The usage of the word 'shall' in the phrase, “The President's powers under paragraph (1) of this section shall be utilised by him after consultation with the Council of State”, demonstrates this. The exact legal force that the advice of the Council of State bears, i.e., whether it should be taken as limiting the President's powers of pardon, or whether it is merely a courteous procedure to abide by, is a thorny issue amongst analysts. The President's obligatory gazetting in the Official Public Notice of the Government of the Federation concludes the pardoning process. The President, including the Governor, by extant constitutional provisions, have no constraints or hurdles whatsoever on whom they can grant pardon to. State pardon is therefore a discretionary power that must be utilised with utmost

“They (including my humble self), believe that the presidential pardon amounted to a presidential endorsement of criminality and stealing of our public funds by persons entrusted with managing such funds…..”

Former Governor of Taraba State, Jolly Nyame

caution and must accord with the law. It must never be used as a tool of political patronage, nepotic purposes, monetary benefits, or for self-aggrandisement. It must be used in a fair and impartial manner, free of prejudices, bias and public disapproval. It must be strictly in accordance with the best interest of the nation, and the letter and spirit of the Constitution and the code of conduct applicable to all public officers in Nigeria. The Legal Consequences of the Grant of a Presidential Pardon The Legal effect of presidential pardon was expatiated upon in EX-PARTE GARLAND 71 U.S. 333 (1866) thus: “The inquiry arises as to the effect of a pardon, and on this point the authorities concur. A pardon in the eye of the law, cleanses the offender and makes him as innocent as if he had never committed the offence”. Such a convict is like Naaman the leper, who dipped himself in the River Jordan and became cleansed of his leprosy. In FALAE v OBASANJO (1999) 3 LLER 1(CA), the Court of Appeal held that a pardon relieves the person of all sins. Musdapher, JCA (as he then was) said: “In my view, under Nigerian law there is no distinction between “pardon” and “a full pardon.” A pardon is an act of grace by the appropriate authority, which mitigates or obliterates the punishment the law demands for the offence and restores the rights and the privileges on account of the offence. The effect of a pardon is to make the offender a new man, or novus homo, to acquit him of all corporal penalties and forfeitures annexed to the offence pardoned”. In the same vein, the court in OKONGWU v STATE (1986) 5 NWLR (Pt. 44) 721, held that a free pardon had the effect of erasing “all suffering, consequences, and punishments whatsoever that the said conviction may ensure, but not to wipe out the conviction itself” from the pardonee. Thus, even where the fines have been vacated, the conviction will forever remain on the record of the court. Thus, even if a person has been pardoned, he can still legally appeal his conviction. This was why in OKONGWU v STATE (1986) 5 NWLR (Pt. 44) 721, it was held that a free pardon has the effect of blotting out "all suffering, consequences, and punishments whatsoever that the said conviction may ensure, but not to wipe out the conviction itself". The 1999 Constitution in Sections

175 and 212, have made provisions for the grant of pardon, respite or clemency to any person, either free, or subject to lawful conditions as may be determined by the President or the Governor, respectively. Such pardon could be for an indefinite or specified period. They could substitute a lesser form of punishment or remit the whole or any part of such punishment, or substitute a less severe form of punishment. While under Section 175 (2), the President shall carry out such an exercise after consultation with the Council of State, the State Governor shall carry his out “after consultation with such advisory council of the State on prerogative of mercy as may be established by the law of the State”. There is the more worrisome legal conundrum in the entire presidential pardon, as it pertains to the two Governors. This is whether the President could have legally granted pardon to former Governors Joshua Dariye and Jolly Nyame of Plateau and Taraba States respectively, having regard to the fact that both men were convicted for offences allegedly committed between November 2000 and May 2007. The offences under which they were tried and convicted fall under State laws, which took place after the promulgation of the 1999 Constitution during which time they were Governors. Specifically, they were tried and convicted under Sections 115,119 and 309 of the Penal Code Act, Cap 532, LFN, 1990, obviously an existing State law within the meaning, import and true purport of Sections 315(1) (b) and 318 of the 1999 Constitution. This Act which became effective as a State law, is applicable to the FCT and the Northern States. This Penal Code Act, not being a Federal legislation of the NASS, became an existing State law deemed duly enacted by the 19 Northern States by virtue of Section 315(1)(b) of the Constitution. It becomes clear therefore, that only the Governors of Plateau and Taraba State could have legally and rightly granted pardon to Dariye and Nyame, invoking Section 212 of the Constitution; and not Mr President under Section 175 of the Constitution. The doctrine of separation of powers ably propounded in 1748 by Baron de Montesquieu and which is accorded constitutional imprimatur in Sections 4, 5 and 6 of the 1999 Constitution operate here. Should anyone challenge their pardon, an interesting constitutional issue would have been thrown up for constitutional pundits and legal analysts like yours sincerely. Let us now look at the moral implications. The Moral Implications of the Presidential Pardon The moral implications of granting pardon to people, may send different messages and signals to different people. The messages could either be seen as genuine forgiveness, connivance, condonation, conspiracy, or impetus, etc. There is this aphorism often credited to Benjamin Franklin, to the effect that “to err is human, to forgive is divine and to persist is devilish”. This saying is true. It is Biblical that all have sinned and come short of the glory of God. Jesus also admonished that if ‘we’ say that ‘we’ have no sin, ‘we’ make Him (Christ) a liar and the truth is not in us. In the case of a woman caught in the act of adultery brought to Jesus Christ for just determination, Christ demonstrated forgiveness by challenging the mob to first cast a stone at the woman if they had no sin. Shortly after the mob departed, Jesus forgave the woman and commanded her not to go back to her sinful lifestyle. Christ gave this woman who was about to be stoned to death, a second chance to mend her ways. (To be continued). THOUGHT FOR THE WEEK “Justice is itself the great standing policy of civil society; and any eminent departure from it, under any circumstances, lies under the suspicion of being no policy at all.” (Edmund Burke)

VII

TUESDAY, MAY 31, 2022 ˾ T H I S D AY

INSOLVENCY DISCOURSE DR KUBI UDOFIA

INFO@KUBIUDOFIA.COM

A Re-Examination of the Agency of Privately Appointed Receivers Introduction n the context of insolvency and security enforcement, a receiver’s primary duty is to deal with the assets covered by the security and realise them for the benefit of his appointor. A common practice in Nigeria, is for parties to provide in security agreements that receivers appointed by creditors are agents of debtors. This discourse examines the validity of such arrangements against the background of Section 553(1) of the Companies and Allied Matters Act (CAMA) 2020.

Privately Appointed Receivers under CAMA 2020 Receivers may be appointed by court or privately under a power contained in an instrument. A receiver who is appointed by court is deemed to be an officer of the court and must act in accordance with the court’s instructions: Section 552(2) CAMA 2020; E.S. & C.S. Ltd v N.M.B. Ltd [2005] 7 NWLR (Pt 924) 215 at 270B-C. In contrast, a privately appointed receiver is deemed to be the agent of the persons on whose behalf the receiver is appointed: Section 553(1) CAMA 2020. Further, where a receiver is also a manager of the company’s undertaking, he is deemed to stand in a fiduciary relationship to the company and observe the utmost good faith towards the company in transactions on behalf of, and with, the company. Section 553(1) CAMA 2020 replicates section 390(1) CAMA 1990 with two alterations. First, Section 390(1) CAMA 1990 provided that a privately appointed receiver “shall … be deemed to be an agent.” In contrast, section 553(1) of CAMA 2020 says the receiver “is … deemed to be an agent.” This revised phrasing is similar to what is used for administrative receivers in Section 44(1) of the UK Insolvency Act 1986.In reality; the replacement of “shall be” with “is” does not alter the mandatory nature of the provision. Second, CAMA 1990 made Section 390(1) to be subject to Section 393 CAMA 1990. Section 393 dealt with a receiver/manager’s duties and powers. Section 393 CAMA 1990 is re-enacted without revision in Section 556 CAMA 2020. Instructively, Section 553(1) CAMA 2020 is made subject to section 554 of CAMA 2020, an entirely different provision. Section 554 CAMA 2020 (which re-enacts Section 391 CAMA 1990) permits a privately appointed receiver to apply to court for directions in performing his functions. The implication of the alteration is that, notwithstanding that a receiver is privately appointed and deemed an agent of the person(s) on whose behalf he is appointed, he may still seek the court’s direction. This does not appear to be a cross-referencing error. Agency of Privately Appointed Receivers under Common Law It is common in Nigeria for instruments to provide that receivers appointed by debenture-holders/ creditors are agents of debtor-companies. This practice may have been influenced by the position of common law and some English statutes. Under common law, parties may define the agency of a receiver in their debenture/instrument: Lathia v Dronesﬁeld [1987] BCLC 321 at 323. Accordingly, in practice parties usually stipulate in instruments that receivers appointed by creditors would be (deemed to be) agents of debtor-companies. Where parties omit to specify whose agent a receiver would (be deemed to) be, in the event of a dispute, a court would make a determination based on the terms of the instrument: Deyes v Wood [1911] 1 KB 306. In Re Vimbos [1900] 1 Ch 470 and Robinson Printing Ltd v Chic Ltd (1905) 2 Ch 123 where the debentures did not state whose agent the receivers were, the courts held that they were agents of the persons who appointed them and not the debtors. Intercontractors Ltd v N.P.F.M.B

[1988] 2 NWLR (Pt 76) 280 at 292H293A was based on the Companies Act,1968 which had no provision similar to Section 390(1) CAMA 1990 or Section 553(1) CAMA 2020. In that case, Nigeria’s Supreme Court relied on Robinson Printing Ltd v Chic Ltd [supra] to suggest that parties could, in their debenture, appoint the receiver an agent of the company. Receivers in England may also be appointed under statutes which define the receivers’ agency status. An administrative receiver appointed under Section 44(1) of the UK Insolvency Act 1986 is deemed to be the debtor’s agent, unless and until the company goes into liquidation. A receiver appointed by a mortgagee under the power conferred by Section 109(1) of the UK Law of Property Act 1925 (LPA) is deemed to be the agent of the mortgagor-company unless the mortgage deed otherwise provides: M. Wheeler and Company Ltd v Warren [1928] 1 Ch 840 at 844. In Central London Electricity Ltd v Berners [1945] 1 All ER 160, the court explained that whether the receiver which was appointed under Section 109 of LPA was to be deemed the company’s or the debenture-holder’s agent, depended on the terms of his appointment in the debenture. Agency of Privately Appointed Receivers under CAMA 2020 A privately-appointed receiver is deemed to be the agent of the person(s) on whose behalf the receiver is appointed: Section 553(1) CAMA 2020. The pertinent question is: on whose behalf is a receiver typically/ usually appointed? This is not a factual issue. Where it to be a question of facts, the answer would depend on how parties structure their instruments. Parties would, by skilful drafting, pre-determine whose agent a receiver would be. For instance, if the intention is to make

“Stipulating in security agreements that a receiver appointed by a creditor shall be the agent of a debtor, conﬂicts with Section 553(1) CAMA 2020….. Such provision is inoperative and ineffective, but does not invalidate the power/right of the creditor to appoint a receiver under the instrument”

the receiver a debtor’s agent, parties would simply state in the instrument that the receiver would be deemed to be appointed on behalf of the debtor. However, and as explained below, CAMA provides for the appointment of receivers for the purpose of realising the security for the benefit of debenture-holders/ creditors. Interestingly, in Lynson Chemicals Ltd v FBN Plc [1999] 1 FHCLR 243 at 269 and Polfa Nigeria Plc v Lawson [2000] 1 FHCLR 263 at 273, the court held that the “clear meaning” of Section 390(1) CAMA 1990 was that a privately-appointed receiver/ manager is “the agent of the company on behalf of which the receiver/manager is appointed”. Similarly, in Unibiz Ltd v CBCL Ltd (2001) 7 NWLR (Pt 713) at 542CG, the court (relying on English authorities) suggested that a receiver was the agent of the company. In O.B.I Ltd v U.B.N Plc [2009] 3 NWLR (Pt 1127) 129 at 157B-C, the court explained the “law” as being that a receiver was “regarded as the agent of the company for the purpose of dealing with the assets in receivership”: see also CBCL Ltd v Okoli [2009] 5 NWLR (Pt 1135) 446 at 461F-G. In Dagazau v Bokir Int’l Co Ltd [2011] 14 NWLR (Pt 1267) 261 at 347A, the court upheld the provisions in an instrument which made a receiver an agent of the company. Most recently, in ITB Plc v Okoye [2021] 11 NWLR (Pt 1786) 163 at 197F-G, Kekere-Ekun JSC affirmed the statement by a trial court that a suit commenced by a receiver to secure a company’s assets was a claim by the company itself “whose agent the receiver is”. With respect, the debtor-company cannot, by any stretch of reasoning, be “the person or persons on whose behalf a receiver/manager is appointed” under Section 390(1) CAMA 1990 (now Section 553(1) CAMA 2020). “Company” is mentioned three times in section 553(1) CAMA 2020. If the lawmakers’ intention was for the company to be the entity on whose behalf the receiver is appointed, the word “company” would have simply been used and not “person or persons”. In other words, the provision would have read: “A receiver or manager of any property or undertaking of a company appointed out of Court under a power contained in any instrument is ... deemed to be an agent of the company on whose behalf he is appointed”. Further, section 556(1) describes the receiver’s duties as being, amongst others, to “realise the security for the benefit of those on whose

behalf he is appointed”. Similarly, Section 556(2) describes a receiver/manager’s duty as being to manage the company’s undertaking “with a view to the realisation of the security of those on whose behalf he is appointed”. A company cannot take or hold security over its own assets. Consequently, debenture-holders/secured creditors are clearly the persons on whose behalf receivers are appointed as opposed to debtor-companies. . Commendably, there are case laws which have accurately defined a receiver’s agency status under Section 390(1) CAMA 1990 (now Section 552(1) CAMA 2020). In UBN Ltd v Tropic Foods Ltd [1992] 3 NWLR (Pt.228) 231 at 245E, Ejiwunmi JCA stated that a receiver is an “agent of those who appointed him”. Eleven years later, Ejiwunmi JSC echoed this position in Unibiz Nigeria Ltd v CBCL [2003] 6 NWLRR (Pt.816) 402 at 424D-E, 425C. In Tanarewa v Arzai [2005] 5 NWLR (Pt.919) 593 at 640E-641A, the court held that the receiver was the agent of the debenture-holder/creditor which appointed the receiver or on whose behalf the receiver was appointed. The court rejected the contention that the receiver was the agent of the debtor-company. Similar interpretations of Section 390(1) CAMA have been given in Christlieb Plc v Majekodunmi [2008] 16 NWLR (Pt 1113) 324 at 345D; Fadeyibi v Industrial Heritage Ltd [2013] 4 NWLR (Pt 1344) 353 at 374B-D; Jukok Int’l Ltd v Diamond Bank Plc [2016] 6 NWLR (Pt 1507) 55 at 94F-G and Carnco Foods Nigeria Ltd v Mainstreet Bank Ltd (2013) LPELR-20725. More recently in Folorunsho v Rosula Nigeria Ltd (2019) LPELR-47339 (CA) at 46-47, the court overturned the decision of the trial court which had held that the receiver was an agent of the debtor. The court rightly held that parties could not by their contract alter the position of the law under Section 309(1) CAMA 1990 by making a receiver the agent of the party issuing the debenture. The court further stated that whether or not parties made specific provision, the law remained that a receiver appointed by a debenture-holder was the agent of the debentureholder for the purpose of the receivership and a contrary provision would be “ineffective” and “inoperative”. Conclusion Stipulating in security agreements that a receiver appointed by a creditor shall be the agent of a debtor, conflicts with Section 553(1) CAMA 2020 (previously Section 390(1) CAMA 1990). Such provision is inoperative and ineffective, but does not invalidate the power/right of the creditor to appoint a receiver under the instrument.

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L-R: Dele Belgore, SAN, Jide Ogundipe, Ebun Sofunde, SAN and Yemi Akangbe

‘Restrict Right of Appeal to Apex Court’ In a jurisdiction where partnerships do not seem to thrive much, its good to see a partnership that has thrived for several decades. The upscale law firm of Sofunde, Osakwe, Ogundipe & Belgore (SOOB Law) established in 1989 by the name Partners, has weathered the storm for over 30 years and is still going strong. Onikepo Braithwaite and Jude Igbanoi spoke to the firm’s four partners, Ebun Sofunde, SAN, Jide Ogundipe, Dele Belgore, SAN and their new Partner, former Nigerian Bar Association (NBA) Lagos Branch Chairman, Yemi Akangbe, who came on board when one of the founding Partners, Gabriel Osakwe voluntarily retired from active legal practice. The Partners spoke about their areas of expertise, and shared their views on some topical issues, while Mr Akangbe spoke about his experience and some of his achivements as Chairman of the largest Branch of the NBA Ebun Sofunde, SAN

Chief Olanipekun, SAN’s speech at the Supreme Cou;rt during the valedictory session for Mary Peter-Odili JSC, expressly pointed out serious concerns over conﬂicting judgements of the Apex Court. What could be responsible for this, and how can it be addressed? The lower courts are also more guilty of conﬂicting orders and judgements. What is the solution to curb this malaise? What could be responsible for the rate at which conflicting judgements are given by the courts are the following: (a) too much workload for the Judges such that they do not have enough quality time to devote to each case and embark on the necessary research; (b) some Judges do not necessarily place much importance on research and the analysis of previous decisions on a relevant matter; and (c) the Judges are not adequately assisted by counsel who have the duty to draw the court’s attention to previous decisions that are, or appear to be, relevant. Suggested solutions are: (a) in the case of the Supreme Court, to reduce their workload by seriously restricting the right of appeal to it; and (b) in the case of all courts (including the Supreme Court), to encourage the reduction of their workload indirectly by; (i) making it unattractive to file actions and/or appeals that clearly lack merit by awarding proper and realistic costs against the losing party; and (ii) penalising counsel by the award of costs against them personally for bringing or maintaining frivolous actions and/or

appeals, and if necessary, also taking necessary disciplinary proceedings; (c) in the case of all courts (including the Supreme Court) to encourage a more conscious attitude to the analysis of relevant cases by; (i) ensuring that the criteria for the appointment of Judges should consciously include a propensity for research and analysis; and (ii) making it unattractive for counsel to fail in their duty to draw the attention of the courts to relevant decisions. The retirement age of Justices of the Supreme Court was recently recommended by Chief Afe Babalola, SAN to be raised to 75 and Judges of the High Court, 70. Do you agree with this call? The retirement of one of your founding Partners, Mr Osakwe elicited a number of questions. Is it the policy of your ﬁrm that a Partner must retire at 70, or it was just a voluntary decision by Mr Osakwe? I agree with the call for the retirement ages of Justices to be raised to 75 for appellate Justices and 70 for High Court Judges. Now, a lot of experience and maturity is lost with retirement at the current retirement ages. As a matter of fact, the Partnership Agreement that we signed in 1989 provides a clause therein for retirement at the age of 65. However, upon realising much later that 65 was too young an age for a Partner to retire, we did not enforce it. Chief Osakwe voluntarily retired at the age of 70. Can Section 137(3) of the Constitu-

“The pardoning of convicted former Governors sends, in my opinion, completely wrong signals to Nigerians and other people around the world, other than to Nigerian politicians”

tion apply retrospectively? Section 137(3) which reads: “A person who was sworn in as president to complete the term for which another person was elected as president shall not be elected to such ofﬁce for more than a single term” defines or qualifies a substantive right. It has nothing to do with procedure. The reason for this distinction is that any law on procedure is, without more, presumed to be retrospective. However, a law on substantive rights is always presumed to be prospective, unless there is something in its language which, expressly or by necessary implication, makes it clear that the lawmakers intend it to be retrospective. Is there anything in the section that expressly or by necessary implication makes it clear that the lawmakers intend Section 137(3) to be retrospective? The use of the expressions “was sworn in” and “was elected as President” suggest that the section in question applies to an event that had already happened before the law was passed. This would tend to suggest that, this manifests an intention to make that section retrospective. But, if one gives it that meaning, it would be open to a conclusion that it does, therefore, not apply to persons who are sworn in to complete a President’s term after this section came into force. Is that the true intendment of the lawmakers? It is doubtful. In my opinion, the provision is meant to regulate that occurrence whenever it happens. In interpreting it this way, that would tend to make it less evident that the lawmakers intend to make the law retrospective. So, whilst there might be argument in favour of saying that it is retrospective, the argument is not

clearcut. What is your opinion about the new law passed by the National Assembly criminalising the payment of ransom to kidnappers? Should this be so, when people are kidnapped not through any fault of theirs, but because the Government has failed to secure the lives of Nigerians? I am not aware that a new law has been passed criminalising the payment of ransom to kidnappers, but I am aware that it is afoot. Again, without seeing the text of the law, it is impossible to evaluate it. However, in my opinion, it does not sound right to criminalise the payment of ransom. Such people who pay ransom should be treated as victims, unless their intention in paying over the ransom was to enable the kidnappers to be enriched rather than to save the lives and/or secure the release of their loved ones.

Jide Ogundipe

You were recently named a Global thought leader in the ‘Who’s Who Legal’. Please, tell us the signiﬁcance of the recognition, and how does the legal industry in Nigeria beneﬁt from your wealth of experience having been so recognised internationally? Who’s Who Legal (WWL) is a publication that seeks to identify the foremost legal practitioners, in multiple areas of business law. It features over 24,000 of the world’s leading private practice Lawyers from over 150 national jurisdictions. It is impossible to buy entry into any of its guides. So, being recognised by the publication is an honour conferred as a result of colleagues from around the world considering my work to have merit. Being recognised as a “Thought Leader” over the past couple of years in two separate practice areas (Asset Recovery in 2021 and Commercial Litigation in 2022), is a very special honour. I am unsure what, if any benefit, this

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‘Restrict Right of Appeal to Apex Court’ recognition confers on the legal industry in Nigeria, which tends to focus more on legal practitioners recognised by a Judiciary-led Privileges Committee, than those recognised by their peers and clients. Indeed, it is unlikely that many people in the legal profession in Nigeria are even aware of WWL. As my clientele is primarily non-Nigerian, the recognition has helped in directing non-Nigerians seeking legal counsel in Nigeria to making inquiries to my firm. What it might do, is encourage colleagues to seek to provide the levels of professional service that are demanded by clients in the leading commercial markets of the world. This is really important, as legal practitioners from other jurisdictions continue to look to grab more of the most valuable work from Nigerian practitioners. You have expertise in the ﬁeld of asset tracing and recovery. How successful have you been in recovering Nigeria’s stolen assets? People are sceptical in that they believe that the funds recovered are simply relooted by others. Is there any truth to their belief? Or that nothing really comes out of it? For example, the case of the millions of Dollars found in a ﬂat at Osborne Towers, Ikoyi. We never heard what happened to the funds, nor was anyone really brought to book for it after the initial noise making As I indicated earlier, WWL featured me as a “Thought Leader” in the field of Asset Recovery in 2021. I also indicated that my clientele is made up, predominantly of non-Nigerian businesses, governments and individuals. My asset recovery practice has been, primarily, on behalf of private clients. I have had zero success in recovering assets for Nigeria, for the simple reason that I have never received instructions from any Nigerian government, department or corporation to seek to recover assets. In my view, receiving instructions from governments in Nigeria is, to a very significant extent, based on political and personal influence, rather than on any appreciation of abilities or expertise in a particular practice area. Given this, it is unsurprising that there is wide-spread scepticism that there is any true will on the part of the Federal Government, to pursue the recovery of value lost as a result of misfeasance by anybody, let alone by government officials. However, it would be unfair to be completely dismissive of official recovery attempts, as I am aware that there are ongoing efforts to seek recovery of lost value, not only in Nigeria but also in other jurisdictions around the world. Indeed, a very interesting action embarked upon on behalf of the Federal Republic of Nigeria (FRN) (with which I have a very peripheral connection) recently closed in London, and judgement in that case is awaited. If the FRN is successful, it may receive a significant award in its favour. The suggestion that recovered assets will simply be “looted again” is inaccurate, although, it is easy to understand why there should be such a perception. One therefore, needs to take a more nuanced view of what is going on. The “looting” is an ongoing problem, and the perception that anything recovered will simply be misappropriated again, is not aided by what I describe as the Nigerian State’s schizophrenic approach to addressing the problem. On one hand, there appears to be genuine efforts to tackle the problem, and, at the same time, one observes instances where the effort does not seem

Ebun Sofunde, SAN

to be genuine. The Osborne Road case you reference, is an example of this. Authorities discovered (allegedly through a whistleblower) the presence of a huge sum of Federal Government cash in private premises, to where it had been improperly located. The owner of the property, turned out to be the wife of a senior intelligence officer. Once the initial media attention died down, information about the case became difficult to obtain. I am unaware of the current status of the matter, or if there is any actual pursuit of anybody for what appears to have been a most irregular situation. Certainly, nobody is presently standing trial in connection with the discovery. The recent media revelations about the Federal Accountant-General is another instance where we might, once again, witness this schizophrenia. Arrests are made with much fanfare, and then there is no proper follow through with efficient prosecutions. Recently, two ex-Governors were pardoned after being prosecuted up to the Supreme Court and convicted of corruption charges. We understand that it is a prerogative that cannot be questioned. How do you think this kind of pardon reﬂects on Nigeria’s image abroad where assets are traced to for recovery? Do they take us seriously? The pardoning of convicted former Governors sends, in my opinion, completely wrong signals to Nigerians and other people around the world, other than to Nigerian politicians. Quite apart from the fact that Nigerian courts, in my opinion, hand out far too lenient sentences to convicted political office holders, the signal it sends to Nigerian office holders is that one can essentially steal from one’s own people, safe in the knowledge that if caught and successfully prosecuted, a pardon awaits. This is another example of the schizophrenia I mentioned earlier. It is difficult for observers to take such

“The confusion people have over Anyadike J’s judgement on that Section 84(12) of the Electoral Act 2022 issue, is that they have interpreted her views on the constitutionality of that section as the ratio decidendi of the case. It is not, in my view. The ratio is that the Plaintiff in that case, did not have locus standi”

Jide Ogundipe

things, as signalling any true desire to address the problems. How would you rate the success of the Buhari Administration’s ﬁght against corruption? Definitely not an A!

Dele Belgore, SAN

Arbitration is your forte, and you are a certiﬁed Tutor for the Institute. Given the fact that around here most people easily challenge arbitral awards, how well would you say arbitration has been entrenched in Nigeria? How can we ensure that parties have conﬁdence in arbitration in Nigeria? About 25 years ago when we started running training courses for the Chartered Institute of Arbitrators, we were confronted with a number of negative and erroneous perceptions. One, that arbitration is only a tool for Lawyers. Two, that arbitration was only for large money disputes. Three, a reference to arbitration was a challenge to the courts’ jurisdiction. Four, Nigeria lacked the requisite expertise and skill for arbitration. I am happy to say that, these perceptions have largely dissipated. Today, in Nigeria, arbitration and ADR is no longer the preserve of Lawyers or only for large monetary claims, the courts have become supportive of the process, and we have quality arbitrators that are readily benchmarked to international standards. I will admit that incessant challenges to arbitral awards is a problem, but, as our understanding of the process increases and the commercial realities of accepting the finality of an award percolates, I would expect that gradually, we will progress positively in that area too. Acceptance of the finality of awards is obviously an area that has to be improved upon, to bring about greater confidence in the arbitral process. What do you have to say about so many arbitration bodies in Nigeria? How can we ensure cohesion? First, there are not even enough arbitral bodies in Nigeria. With arbitration and ADR, it is “the more, the merrier”. Arbitration is a commercial service that should cater to the needs of various sectoral consumers. So, as the sphere of commercial activity grows and diversifies, so also should be the options of arbitration services available. The UK which has about 20 -25% of Nigeria’s population, has a lot more

arbitral bodies than we have. Why? Because aside from the well-known arbitral bodies, the diversity and strength of commercial activity over there has given rise to various dispute resolution bodies that cater to specific industry sectors, such as those exclusively for the travel industry, for rental disputes, consumer protection, sports and so on. The issue of cohesion therefore, does not arise, so long as the various bodies share the fundamental objective of promoting arbitration & ADR, though their methods and ways of pursuing that objective could be and is expected to be different. People are confused about the recent judgement of the Court of Appeal setting aside Anyadike J’s judgement which declared Section 84(12) of the Electoral Act 2022 null and void, but at the same time heard the matter on its merits and also declared the law unconstitutional for being discriminatory contrary to Section 42 of the Constitution. What is the effect of the intermediate court’s decision? Does it have the effect of restoring Section 84(12) or maintaining the declaration of its unconstitutionality? The heart of the matter to my mind, emanates from decisions of the Supreme Court that enjoins lower courts to deal with all issues presented to them. This makes sense at a practical level, because if a lower court determines the issue of say a Plaintiff’s locus standi solely on the basis that that issue is dispositive of the entire case without bothering to pronounce on the other issues raised, should that matter go on appeal and the appellate finds that the Plaintiff does have locus, the matter would be sent back to the lower court for a determination of the other issues. If then, that court rules on those issues and the matter goes back on appeal, a lot of time would have been spent on what was in essence a preliminary issue. So, the Supreme Court said even if you find that there was no locus, for instance, rule on that, but go ahead to determine the other issues in the event that you were wrong on locus, so that your decision on those issues and the one on locus can all be taken together by the appellate court. This is an eminently sensible principle. The confusion people have over Anyadike J’s judgement on that Section 84(12) of the Electoral Act 2022 issue, is that they have interpreted her views on the constitutionality of that section as the ratio decidendi of the case. It is not, in my view. The ratio is that the Plaintiff in that case, did not have cont'd on page X

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‘Restrict Right of Appeal to Apex Court’ cont'd from page IX

locus standi. All other pronouncements by her are obiter dicta. So, in the strict sense, the constitutionality of the Section 84 matter is yet undecided. If the court process in Nigeria were much quicker than it is, and a matter like locus can be solely determined and disposed of within a very short time, this would not have been an issue because the trial Judge would have dealt with only that issue and within a short time be back to deal with the others in the event that the appeal court finds that she was wrong on locus. You ran for Governor in your State, Kwara, albeit unsuccessfully. Have you put your ambition on hold? Or should we expect you to run again in the near future? I am presently an officious bystander, in matters of seeking elective office. The future is not ours. But, having said that, we should (and must) all actively engage with issues of governance. We must engage the process. Have a voice either directly by seeking office, or indirectly by supporting those you feel can adequately speak for you. Our lives, safety, prosperity and well-being, depend on it. If you allow the neighbourhood idiot to speak for you, you'll only have yourself to blame for the consequent idiotic outcomes.

Yemi Akangbe

As NBA Lagos Chairman, you inherited the huge project of building a beﬁtting Secretariat for the Branch. How far did you take this project before you left ofﬁce? We ask because many Branches, including a sister Branch, took many years to complete theirs, and such projects are often trailed with massive corruption which mostly end up in litigation. Over the years, successive administrations of the Branch had made attempts to construct a befitting Bar Centre for the Lagos Branch, but it has proved somewhat elusive to achieve. My administration was able to break the jinx by commencing the project, unfortunately, we could not conclude it before the end of our tenure. Hopefully, the new administration will conclude the project. One of the main reasons for our inability to conclude the project was because in the first year of my administration, we were focusing on getting land within the vicinity of the High Court, so, we were considering some of the Federal Government properties around the Lagos High Court, We engaged the Minister for Works and Housing, Mr Babatunde Raji Fashola, SAN, but, we were not able to get a suitable property in that vicinity. By the second year of our administration, we then took the decision to commence construction on the land in Lekki given to the Branch by the Lagos State Government. With regard to allegations of corruption in the process of building a Bar Centre in other Branches, I cannot speak about other Branches, as I have no knowledge about their internal affairs. However, I can speak about the Lagos Branch, which is considered as the number one Branch in Nigeria, in all respects. I can boldly say that we have not had a case of corruption in our Branch to date, and this project is given further credibility by the eminent members in the Project committee, ably Chaired by a seasoned builder, in the person of Dr Wale Babalakin, SAN, Mrs Mfon Usoro as Vice Chair, Babasola Alokolaro as Secretary, and other members such as Mr

Dele Belgore, SAN

George Etomi, Prof Gbolahan Elias, SAN, Mr Dele Belgore, SAN, Mr Val Obi, SAN, Mrs Chinyere Okorocha, Messrs Tony Nwaochei, Tobenna Erojikwe and Kehinde Daodu to name a few of them. I believe that with the efforts shown thus far by the new administration, we should have a Bar Centre of ours in no distant future. Pls, Share with us your experience administering the largest of the 126 Branches of the NBA, given especially the cosmopolitan nature of Lagos. It is indeed, a rare privilege to have led not only the largest Branch of the NBA with over 10,000 members, but also the largest Association of Lawyers in sub-saharan Africa. Of course, an Association of that size presents one with its own challenges. But, when I look back, I feel gratified by the many achievements and successes recorded by the Branch under my leadership. I recall that my decision to run was simply borne out of belief in the saying that “if you want a thing done well or properly, do it yourself”. I did not want to sit on the fence and criticise the system like many people do, so I decided to throw my hat in the ring. I campaigned on the slogan of “providing platforms for upliftment of our members and increase their social mobility”. All my manifesto promises were fulfilled and just to mention a few: Continuous Professional Development Committee: This committee, under the chairmanship of Tobenna Erojikwe, recorded many successes. For the first time in the history of the NBA or any of its 125 other Branches, we collaborated with other professional institutes to train and certify our members in other vocations. One of such collaborations, was the signing of a memorandum of understanding with the Chartered Institute of Arbitrators in training and certifying

“…. the NBA is the foremost pressure group in Nigeria, and the choice of its leadership is critical to its contribution to nation-building and the sustenance of our democracy”

Yemi Akangbe

our members in the field of Arbitration and ADR. The Branch sponsored 100 members on that training, and those 100 members now practice in that space. We were in the process of signing such understanding with the CITN and ICSAN when Covid struck, and the eventual lockdown forestalled the process. We also had many group mentoring sessions for our younger members, the one-on-one mentoring sessions where we paired younger Lawyers with senior Lawyers for a duration under a unique mentorship system. We were again, on the verge of commencing the law firm mentorship programme, where we would have paired small law firms with established law firms, in order to shadow and mentor the small ones, when the lock down commenced and that could not be achieved. Welfare of members: For the first time in the history of the NBA, our administration embarked on health care insurance cover for our members. We decided to provide members, with an affordable health care service. We signed a memorandum of agreement with Hygeia, to provide medical insurance to members at a negotiated rate of N20,000 per year, to cover our members and their spouses. With that cover, our members had access to medical facilities with top grade hospitals in Lagos. Again, that was a first in the history of the NBA or any of its 125 other Branches. Automated Branch Activities: Our administration ensured a construction of the Website for the Branch, and made sure that all Branch activities could be carried out electronically. Payment of Branch dues, application for letters of good standing, identity cards et al are now obtained on the website, without the need to go over to the Branch physically. Again, no previous administration in the NBA or any of its other Branches had done that before., These are just some of the many firsts recorded by the Branch, under my leadership. So, looking back, I am glad that I was able to contribute positively to our dear profession, and I believe that if we all can emulate that, we might be able to contribute to fixing the larger Nigerian society. Societal changes can only be achieved through common will, so if we all come together and

fix our homes, organisations, associations, our sphere of influence, we might just get that change that we have been yearning for, as a country or as a people. The NBA is in the process of electing its national ofﬁcers in the next couple of weeks. As one who has held an important ofﬁce in the Association, what would be your advice to young Lawyers as they make their choices? My advice for young Lawyers, is to exercise their choice wisely. The position of the leader of the NBA is very important to members of the profession, as well as to the citizenry of the country. I say this because, the NBA is the foremost pressure group in Nigeria, and the choice of its leadership is critical to its contribution to nation-building and the sustenance of our democracy. We are the only profession trained to administer and advance the cause of justice and the rule of law, to that extent, we have to play an active role in ensuring that only altruistic, credible and competent persons lead the Association. In addition, the profession itself is at a point where it is being confronted with too many challenges; and without a true leader to steer its ship, it may sink. We have issues such as encroachment into our market by both foreign firms that want to come and take over our space and other professionals within the country, encroaching on our space, such as accountants, estate agents to name a few. There is the major issue of remuneration of young Lawyers, how to ensure they earn a living wage during a period of tutelage. We are also confronted with Executive lawlessness and rascality, disobedience of court orders by Government and citizens, issues of indiscipline by Lawyers themselves. When you weigh up all theses challenges confronting the profession, one will realise that except we get our choice of leaders right, we may not have a profession one can be proud of in years to come. Thus, it is incumbent on members of the NBA, whether young or otherwise to ensure that the most credible candidate becomes the next President at the forthcoming election. I implore members not be passive on this occasion, they must interrogate the candidates, their background, track record and their programmes before pitching their tent. Hopefully, we will have a President that can continue with the giant strides that the Olu Akpata administration has recorded. Thank you All.

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IMAGES

XIII Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Principal Consultant, NECCI Consulting, Mrs. Nkechi Ali-Balogun; President of African Public Relations Association and Group Managing Director, CMC Connect, Mr. Yomi Badejo-Okusanya; President/Chief Executive Oﬃcer, Global Alliance for Public Relations and Communication Management, Justin Green; and Tanzania Deputy Minister of Information, Communications and Technology, Kundo A. Mathew, during the presentation of the Global Icon Award to Badejo-Okusanya at the African Public Relations Association (APRA) conference 2022 in Tanzania…recently

L-R: National Coordinator, Indomie Fans’ Club (IFC), Mrs. Faith Joshua; Lagos State First Lady, Dr. Ibijoke Sanwo-Olu; and Group Corporate Communications and Events Manager, Duﬁl Prima Foods Plc, Mr. Tope Ashiwaju, at the 2022 Indomie Children’s Day celebration in Lagos…recently

L-R: Director, Laboratory Services, Standards Organisation of Nigeria (SON), Dr. Barth Ugwu; Director, Standards Development, SON, Mr. Dauda Yakubu; Representative of SON director-general and Director, Management System Certiﬁcation, SON, Felix Nyado; Senior Country Manager, International Finance Corporation (IFC), Mr. Kalim Shah, and British Deputy High Commissioner in Lagos, Mr. Ben Liewellyn-Jones, at the handover of the Standalone Solar products test laboratory and inauguration of Market Surveillance Plan, a collaboration of SON and the Africa Clean Energy (ACE) programme, held at SON lab in Ogba, Lagos... recently

L-R: Assistant Operations Manager, Frapapa Bet, Yusuf Usman; Captain of Ipakodo All Stars Football Club, Abiodun Fatai-Abatan; football referee, Makinde Kazeem; Customer Service Representative, Frapapa Bet, Dorcas Azuango; and Captain of LASPOTECH football team, Yusuf Raﬁu, after a novelty match to launch Frapapa Bet new retail betting shop in Ikorodu, Lagos...recently

L-R: Executive Director, Corporate Services, Alpha Mead Group, Dele Aloko; Managing Director, Alpha Mead Facilities, Wole Olufore; General Manager, Lagos State Infrastructure Management Agency, Adenike Adekanbi; Managing Director, Alpha Mead Group, Femi Akintunde; Managing Director, Alpha Mead Development, Wale Odufalu; and Vice President, IFMA Nigeria, Olalekan Akinwumi, at the 10th Nigerian Facilities Management Roundtable organised by Alpha Mead Facilities in Lagos...recently

L-R: Chief Executive Oﬃcer, Oriental Energy Resources, Mr. Mustafa Indimi; CEO, ND Western, Mr. Eberechukwu Oji; acting CEO, Eroton E & P, Mr. Emeka Onyeka; CEO, First Exploration and Petroleum Development Company, Mr. Ademola Adeyemi-Bero; Chief Executive of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed; Chairman, IPPG and Waltersmith Group, Mr. Abdulrazaq Isa; and Executive Director, Hydrocarbon Processing Plants, Installations and Transportation Infrastructure of NMDPRA, Mr. Francis Ogaree, during a courtesy visit by a delegation of Independent Petroleum Producers Group (IPPG) to the oﬃce of NMDPRA in Abuja...recently

XIV

T H I S D AY ˾ DAY MAY 31, 2022

FEATURES

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

Mayhem at Abuja Plank Market Lives were lost, assets and goods worth millions of naira destroyed, just as shops were also looted when business owners, commercial motorcycle operators and street urchins clashed at Dei-Dei International Market. The violence rocked Abuja to the core of its foundation, Olawale Ajimotokan reports

Goods and machinery go up in ﬂames at the market

A trader giving own version of how the crises engulfed the market

ei-Dei International market is considered as one of Nigeria’s largest independent building materials markets. The bustling market is located off the Inner Northern road collectively known as ZubaKubwa Expressway. It is a one-stop market where building and construction materials in Abuja, including timber and wood can be bought in affordable and large quantities. However, on May 18, commercial activities at the market were grounded after traders and commercial motorcycle operators, known as Okada riders, clashed after a woman died in an accident. The violence warranted the FCT Minister Mohammad Musa Bello to order the indefinite closure of the market. On that fateful day, tempers flared beyond the point after the woman passenger, who was heading for Dutsen Alhaji, in Bwari Area Council, bumped off a motorcycle and was crushed to death by an approaching articulated vehicle on the Kubwa Expressway. The death of the woman, identified as Bukky, triggered fracas across the Dei-Dei timbre market and the surrounding markets. The commotion escalated when some bystanders, out of rage, burned the motorcycle. The other motorcycle riders showing solidarity with their colleague launched a reprisal which embroiled into a row and inevitably a large scale riot. The situation was later hijacked by hoodlums, who capitalised on the mayhem to loot by setting rows of shop and sheds stockpiled with planks, timbres and other building materials on fire. Many vehicles parked within the vicinity were also set ablaze. It was a day residents of Dei-Dei and its environs and visitors caught in the web of the rage will never forget. The news of the riot also reverberated all over the social media creating an impression that it was an inter-tribal feud between the Igbo traders and mainly Hausa commercial motor cycle operators and their sympathisers. Apart from paralyzing business activities in the market, the riot disrupted traffic along the Kubwa Expressway after police officers mobilised to prevent the crisis from escalating, set up roadblock that led to a traffic build up of nearly 15 kilometres from Dei-Dei to the Katampe end of the road. Many traders lamented that they suffered huge losses on account of the riot. One of the victims, Obiora Nnaemeka said he lost timber goods worth several millions of naira during the fracas. In his own account, the Secretary Tomato and Onions Sellers Association, Dei-Dei Market, Dahiru Garba Mani said four persons were killed by the hoodlums during the riots. He said the victims died from gunshot injuries inflicted on them by the attackers. Also the Vice Chairman Timber Shed Market,

FCT Minister, Mohammed Musa Bello addressing the victims and leaders of Dei-Dei community over the market fracas Ifeanyi Chibata, said between 45 and 50 shops were burnt while 25 vehicles were set ablaze during the riot. Chibata said industrial machines and eight trailers of bonded plywood that were unloaded two days before the turmoil were among some of the valued items razed by fire. He estimated that the total value of planks and building materials that were destroyed in the fire was over one billion naira. “Two Okadas that were trying to manoeuver themselves collided and unfortunately the woman that was on the back of one of the bikes fell and a trailer drove on her head and she died on the spot. " Immediately the accident happened, a motorcycle was burnt and other Okada started to gather, harass people and foment trouble. In the process, one of them was killed. We called the Road Safety people. They responded and picked the dead one and those that were also injured. Another corpse of an Okada person was picked and brought into the market because the ambulance could not take him.

"All of a sudden, Okada people were everywhere. The woman that was killed had no means of identity. We even searched her to see if she had a phone, but she had none. “It was later that one Okada man came and said he was the person that brought the loads that the woman was taking to her house. He was the person that confirmed the woman was from Dutsen and she was taking those loads to her house. "So it was when they saw that we took these people out of the road that Okada operators gathered here,” said Chibata, who has been selling at Dei-Dei for over 25 years. The FCT Minister, Musa Bello, who as a result of the crisis summoned an emergency security meeting with the Police Commissioner FCT Command, Babaji Sunday and Director DSS FCT Command, Alhaji Ado Muazu, fiercely disagreed with the insinuation that the crisis had ethnic undertone. He later led a delegation, comprising the Police Commissioner, the Chairman Abuja Municipal Area Council (AMAC), Abdulahi Adamu Candido, Vice Chair-

"I am appealing to other communities within the FCT that there is no tribal or religious misunderstanding because all the leaderships of various communities have lived here in peace for many years. This is simply the matter of criminals and hoodlums taking the laws into their hands"

man AMAC, Lawrence Onuchukwu, the Chief of Jiwa Chiefdom, Alhaji Musa Idris, the FCT Permanent Secretary, Mr. Olusade Adesola and other political leaders to the affected communities. “I have met the leadership of the market and the leadership of the communities. I have also met the political leadership as represented by the chairman and vice chairman of AMAC Area Council in Abuja and what really came out very clearly was this is an accident that occurred, unfortunately when a lady on a commercial motorcycle fell off, and I think, a vehicle ran over her and unfortunately she passed away. “I am appealing to other communities within the FCT that there is no tribal or religious misunderstanding because all the leaderships of various communities have lived here in peace for many years. This is simply the matter of criminals and hoodlums taking the laws into their hands” he said. He also urged the community and market leaders to fish out the hoodlums who carried arms and indiscriminately shot innocent people, describing the episode as very sad and totally unacceptable. The minister enjoined FCT community leaders to identify miscreants, drug pushers, drug dens and drinking joints where crime and criminality were taking place in the territory as police and the military could not be everywhere simultaneously. “As community leaders, you have to identify all those who are creating confusion here, whether they are Gbagyi, Fulani, Igbo, Hausa, Gwandara –whether they are from anywhere because you are the people who know them, their fathers, where they sleep and where they are staying. So after that, we will come back to review, but meanwhile, we will also try to see that justice is done for those who lost their relatives. I have already told the Police Commissioner what to do. " This whole place is going to be cordoned off and for the next two to three days no market activities here until we sort it out. And after that we will see which market will open and under what conditions, including all the shops and markets from the main express way up to this way.” Bello said. He tasked the market leaders to instill disciple in the markets, adding Dei-Dei used to be one of the most peaceful places in the FCT until all kinds of rancours started to play out because of the apathy of the leaders, who outsourced their responsibility for youths with no meaningful economic activities, apart from drug peddling and other vices. On his part, Sunday said it was an accident that escalated the crisis at the market. The police commissioner appealed to the leaders of the community and the market to always find ways of resolving communal disputes before things go out of hand. He also urged all the residents and members of the affected community to maintain law and order.

T H I S D AY ˾ DAY MAY31, 2022

PERSPECTIVE

CBN as Pivot of Buhari’s Economic Diversiﬁcation Policy Jackson Ugbechie appraises the pre and post Covid-19 pandemic interventions of the Central Bank of Nigeria under Godwin Emefiele and concludes that the cup is half full, not half empty, for President Buhari’s economic diversification drive

Buhari

ecently, while playing host to the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala at the headquarters of Central Bank of Nigeria (CBN), Godwin Emefiele, the CBN Governor outlined the efforts of the apex bank to fix the deficiencies in the nation’s economy. From the 1980s till 2015, Nigeria has operated a mono-product economy, relying solely on sales from crude oil production. Not even warnings from economists and financial experts persuaded successive Nigerian governments to diversify the economy, promote robust primary sector, boost agriculture and invest in infrastructure and innovation. The governments simply shared the money as they came in. This consumption philosophy as opposed to production-inspired economic management became the model for successive governments such that many farmers left their hoes and tractors and migrated to Lagos and Abuja to chase petrochemical-related contracts; became importers of all manner of products including agricultural produce that could easily be produced in the country. Some ended up as forex traders, fixers and launderers. Fortunately, the price of crude oil, the only significant Nigeria export, remained high within the intervening years. The bubble, however, burst in 2015 when crude oil prices crashed globally in a manner that shattered most national economies including the economies of advanced nations. Emefiele had been appointed CBN Governor in 2014 by the PDP government of Goodluck Jonathan. In reality, he came at the time of scarcity. Barely one year after his appointment, oil price tumbled to an all-time low, hitting as low as $20 per barrel. To make matters worse for the incoming Muhammadu Buhari government, the previous PDP government spared no kobo. They shared all the money including cash in the excess crude account. By 2015 even before the inauguration of the Buhari government, Nigeria was already broke. This is the context Nigerians should appreciate the efforts of Emefiele and the CBN at taking some hard decisions to keep the economy afloat and weather through the headwinds. Nobody saw it coming in the monstrously excruciating manner it did, but the global economic spiral of 2015 dealt a heavy blow on major economies across the globe. Nigeria, a monolithic economy primed on crude oil price was hard hit. Some countries are yet to recover from that historical oil price dip. Venezuela is a case in point. Nigeria economy could have gone the same way but for Emefiele’s interventions and innovative paradigm shifts which re-directed the national economy from consumerism to productivity with special focus on boosting local production and discouraging importation of those items that the nation can produce. The over 30 interventions of CBN marked a turning point in the nation’s quest for genuine economic diversification. According to Emefiele, the interventions,

Emeﬁele “particularly in the manufacturing and the agriculture sectors, significantly helped to encourage continuous improvements in growth in these two key sectors of our economy. “Today, our food production systems have become more sustainable due to the improved output at our farms and local factories. Output of staple commodities such as rice, maize, palm oil and tomatoes have grown significantly, and we have also seen increased efforts of our local manufacturing firms to engage in backward integration efforts. "Second, a visit to any major retail chain will reveal an increasing number of high quality made in Nigeria products relative to imported goods, which is helping to increase domestic production, generate employment and wealth in our country. If these intervention efforts were not carried out by the monetary and fiscal authorities, our economy would have been in a grim state,” Emefiele said at a CIBN dinner in November last year. One audacious step taken by Emefiele to promote and boost local manufacture was the 2015 listing of over 40 items as ‘not valid for forex.’ The items included rice, cement, margarine, palm kernel/palm oil products/ vegetable oils, meat and processed meat products, vegetables and processed vegetable products as well as poultry (chicken, eggs, turkey), private airplanes/jets, Indian incense, tinned fish in sauce (Geisha)/sardines), cold rolled steel sheets, galvanized steel sheets, roofing sheets, wheelbarrows, head pans, metal boxes and containers enamelware, steel drums, steel pipes and wire rods (deformed and not deformed). The rest are iron rods and reinforcing bars, wire mesh, steel nails, security and razor wire, wood particle boards and panels, wood fibre boards and panels, plywood boards and panels, wooden doors, furniture, toothpicks, glass and glassware, kitchen utensils, tableware, tiles (vitrified and ceramic), textiles, woven fabrics, clothes, plastic and rubber products, cellophane wrappers, soap and cosmetics, and tomatoes/tomato pastes. A scrutiny of the items showed that all of them, without exception, can be produced in Nigeria, from steel to rice and maize. Therefore, it is in the interest of the nation that the items are not funded from the

depleting forex reserve of CBN. Whereas the apex bank did not impose a blanket ban on the over 40 items, the policy allows importers and business people to source their forex outside the CBN window. It was a masterstroke aside being a tough call to make. It made Emefiele very unpopular among different strata of economic saboteurs, especially those who had made the CBN their forex ATM for the importation of all sorts of commodities in addition to money laundering. Some simply procure forex at official CBN rate and sell same at incredibly high rate at the parallel market. Emefiele’s policy was bad market for the forex grifters and import merchants who would prefer the local industries to die just so they can continue, unchallenged, in their illegal forex business and import racketeering. But the ‘zero forex funding’ ban placed on the over 40 items had a rainbow side. In a manner that stands it out as the most innovative strategy at economic diversification since the 1980s when Nigerian governments at various cycles began to pay lip service to the mantra of economic diversification, the policy triggered a revolutionary shift from importation to local production. Many local industries, once comatose, sprang back to life. Examples abound of indigenous companies that racked up production and became more profitable on account of the policy. One of them is Baton Nigeria, an Ogun state-based toothpick manufacturing firm. It commenced operation in August 2016 barely one year after the policy became effective and all too soon, became a major employer of labour and was able to increase production throughput in no time as there was patronage from the local market. The not valid-for-forex policy aside helping to conserve as well as increase the nation’s external reserve also encouraged local grains production especially with the concomitant launch of an ambitious Anchor Borrowers’ Programme (ABP) which gave a huge push to local production and processing of grains and other agricultural produce. Since the launch of the ABP in 2015 by President Buhari, over 4.8 million smallholder farmers across Nigeria have benefited and this has helped to boost local production of 23 agricultural commodities. Earlier this year, while unveiling stacked

"Emefiele’s approach is simple: target economic growth mostly in the agricultural, services, infrastructure, power and health care sectors of the economy"

paddy rice pyramids produced by rice farmers under the ABP initiative across the country in Abuja, the President gushed at the success of the programme, ascribing the huge jump in rice production in the last six years to the effectiveness of the ABP initiative. “The Anchor Borrowers Programme has so far supported over 4.8 million smallholder farmers across Nigeria for the production of 23 agricultural commodities, including maize, rice, oil palm, cocoa, cotton, cassava, tomato, and livestock. Today, rice production in Nigeria has increased to over 7.5 million metric tonnes annually,” an elated Mr Buhari said. The gain is not only in the volume of grains produced but also in the vastly improved quality of these grains. Prior to the launch of ABP, locally produced rice was largely poorly processed with heavy presence of impurities especially stones. The ABP helped to improve quality of rice and other grains by encouraging the sprouting of processing plants at the different major hubs of rice production. Kebbi state, famed for grains production, became the hub of rice-growing and processing with other active players in the value chain Since the launch of the ABP, rice importation has dropped significantly, thus saving the nation billions of dollars in forex. By end of 2021, rice import bill had dropped from $1 billion to $18.5 million annually. The ABP also ensured a sharp decline in the nation’s major food import bill from $2.23 billion in 2014 to US$0.59 billion by the end of 2018. The trend continued in the following years. Emefiele’s approach is simple: target economic growth mostly in the agricultural, services, infrastructure, power and health care sectors of the economy. The CBN also initiated and revved up the agribusiness/small and medium enterprise investment scheme, the non-oil export stimulation facility, and the targeted credit facilities operated across the 774 Local Governments. Other growth strategies and initiatives include: r *O UIF NBOVGBDUVSJOH TFDUPS UIF $#/ m #0* (Bank of Industry) N200 billion facility financed the establishment and operations of 60 new industrial hubs across the country, creating an estimated 890,000 direct and indirect jobs. r 5IF $#/ T / CJMMJPO UFYUJMF TFDUPS JOUFSvention facility increased capacity utilisation of ginneries from 30% to nearly 90%. On account of these steps, Nigeria’s Gross Domestic Production (GDP) sustained a six-month positive growth to record a 3.11 per cent in the first quarter of 2022 at a time some advanced economies, including the United States, are said to be slipping into recession. The latest NBS report says Nigerian economy has maintained a positive trend for the sixth consecutive quarter after the economic shock by the COVID-19 pandemic. This is something to cheer and it’s all down to the fighting spirit of an unflinching Emefiele. -Ugbechie public policy analyst, writes from Abuja.

XVI

T H I S D AY ˾ TUESDAY MAY 31, 2022

PROPERTY & ENVIRONMENT Corruption: NIQS Wants Constituency Projects Warehoused in a Speciﬁc MDA Bennett Oghifo

he procurement process for public goods and services in the country is still enmeshed in corruption regardless of the existence of the Public Procurement Act, instituted to check it. The President of the Nigerian Institute of Quantity Surveyors (NIQS), Olayemi Shonubi, stated this at the quarterly interactive forum organised by the Property and Environment Writers’ Association of Nigeria (PEWAN) at Lagos Chambers of Commerce and Industry (LCCI) Events Centre at Alausa, Lagos, recently. Shonubi, who was the special guest at the PEWAN forum, also said it

was imperative for the constituency projects undertaken by members of the National Assembly be warehoused in a specific ministry, department or agency for easy monitoring to stem corruption. He said it would appear the Nigerian government and the private sector are meeting the best practices in public procurement, but that it was not so in reality. “On the surface, one is tempted to say yes, given the existence of the BPP Act which governs procurement in the public sector. But in reality, given the reports from the Project Tracking exercises organised by the ICPC in conjunction with our Institute, the NIQS and some CSOs, our public funded projects are still enmeshed in corruption.

“A situation where MDAs undertake projects outside their areas of operation leaves room for a lot of underhand deals, aside from further increasing the administrative costs of running such projects. The private sector situation, where no law binds the award and execution of contracts other than the basic corporate governance code, is more abysmal. “However, because the spotlight is usually on the public sector, the tendency is to believe that corruption exists only in the public sector. There is the need for all procurements for constituency projects to be warehoused under a specific MDA for effective monitoring and supervision.” Also addressing the Executive Order on National Infrastructure

and Building Maintenance signed recently by the federal government, Shonubi said the NIQS supports it. “We support the Executive Order 11, as it is called, and believe that it is long overdue in coming as it will not only create job opportunities for the unemployed artisans who will be engaged in the maintenance of these assets of government but will also ensure that the value of these assets appreciates over their lifetime unlike what hitherto obtained. There are many linkages that are likely to result from this initiative, for instance, our Paint manufacturers are most likely to attract more patronage, as well as other building component manufacturers. The maintenance of government assets will further demonstrate the conscious efforts by the

government towards meeting some of the sustainable development goals enunciated by the United Nations.”

Shonubi

UNILAG’ll Explore Avenues to Promote New Courses on Glass Technology, Says Ogundipe Bennett Oghifo The Vice Chancellor of the University of Lagos, Professor Oluwatoyin Ogundipe has said that the university would do its best to boost existing

Ogundipe

programmes that have glass as part of their curriculum while pushing to explore avenues for boosting our capacity to promote new courses in glass technology for entrepreneurship. Prof. Ogundipe stated this during the celebration of the International Year of Glass organiised recently by the United Nation Information Centre in Lagos is collaborating with the University of Lagos, Lagos State Government, Arcline Beehive Design and other stakeholders to enhance awareness and education about glass while celebrating its contribution, especially to the United Nations 2030 Sustainable Development goals (SDGs). The VC, who was represented at the celebration, said UNILAG “is pleased to be involved in this noble cause.” The United Nations General Assembly, he said, adopted a resolution on 18th May 2021 declar-

ing 2022 as the International Year of Glass to “shine a light on the role of glass in our societies” and show how glass can contribute to sustainable development. This has drawn attention to its importance in various sectors, from aerospace and automobile industries to healthcare and architecture. The fact that glass has always been with us though poorly recognised is the reason 2022 will be celebrated as the UN International Year of Glass (IYOG). This year the UN celebrates the essential role of glass through the ages from Mesopotamia to Rome, to Europe, the near and far East, Africa and the rest of the world. Adding to this perspective, the Director, United Nations Center, Nigeria (UNIC), Mr. Ronald Kayanja stated that “On May 18, 2021, the General Assembly of the United Nations adopted the UN

resolution 75/279 declaring 2022 the International Year of Glass to “shine a light on the role of glass in our societies” and show how technologies like glass can contribute to sustainable development. “Our vision of the United Nations International Year of Glass (IYoG2022) is to celebrate the past, present, and future of this transformative material following the United Nations’ goals in Agenda 2030. Specifically, to: Demonstrate the role of glass in advancing civilization throughout recorded history. Organise international glass science and art festivals, with workshops to excite and inform the public of this rich history, and highlight links between glass, art and culture. Stimulate research on glass amongst organizations in education, industry, research and the public domain, including museums, to address

the great challenges the world faces: achieving sustainable and equitable growth, and improving the quality of life everywhere. Build worldwide alliances focused on science and engineering for young people, while addressing gender balance and the needs of developing countries/emerging economies. The spotlight on glass is meant to highlight how a traditional product can be a part of sustainable development. Humans have been using glass for thousands of years. Today, glass is an important part of our lives: We use glass to build cars and aeroplanes, houses and sculptures; we use it to communicate at the speed of light using fiber optics in our internet cables; we use glass to see more with microscopic lenses and to save energy with insulation.

IFMA Celebrates Facility Management Day, Empowers 25 Technical Students Fadekemi Ajakaiye In commemoration of International Facility Management Association (IFMA) Nigeria Chapter’s silver jubilee which coincided with World Facility Management Day. The association celebrated the milestone achieved over the years at the MUSON Centre, Onikan,

Lagos, recently. The theme of the programme: Leading a Sustainable Future, aimed at strengthening goals to achieve an improved facility maintenance culture in Nigeria. IFMA Nigeria was founded in 1995 by a special group of professionals drawn across the industries within the built environment including Archi-

tects, Civil Engineers, Electrical Engineers, Builders, amongst others who had a burning desire to provide Nigeria with the opportunity of developing a maintenance culture that will shape the future of the country. The association, in collaboration with University of Lagos, has pioneered a professional master’s degree programme in

Dim Your Light for Migratory Birds, NCF Urges Nigerians Bennett Oghifo The conservation of birds in Nigeria was once again brought to the fore as a major concern among conservationists, stakeholders and students when the Nigerian Conservation Foundation (NCF) hosted the World Migratory Bird Day (WMBD) on Friday, 13th May 2022 at Lekki Conservation Centre, Lagos. The World Migratory Bird Day is an annual event used to raise awareness on bird migration and the importance of protecting the flyways (which is the route they utilise for these trips), and habitats utilised by birds during this seasonal

experience. Migration is a regular and seasonal movement of birds between their breeding sites, which is where they give birth to their young and their wintering sites. The North to the Southern ends of Nigeria always host these wintering birds, thus, in addition to raising awareness for protecting habitats for resident birds, we must also do same for these migrants. The Director General of NCF, Dr. Muhtari Aminu-Kano, represented by the Director of Business Development and Communications of NCF, Mr. Uchenna Achunine expressed utmost concern on the chal-

lenges the birds are facing, especially migratory bird. Challenges such as but not limited to loss of habitat, persecution, famine, pollution – which led to this year’s theme. He said, “This year’s theme, “Light Pollution: dim the light for birds at night”, is a clarion call to action for all to jointly participate in bird conservation. Research has shown that birds do have accident flying at night because of illumination from cities. When we switch off light bulbs that are not so useful, we help to reduce the chances of the birds having head-oncollision with buildings, trees, and other infrastructures.”

Facility Management. The anniversary celebration was adorned with professionals across the construction industry, real estate, and facility management professionals including Ms. Nike Adekanbi, the General Manager, Lagos State Infrastructure and Asset Management Agency; Engr Femi Akintunde, Group Managing Director/ CEO, Alpha Mead Group; Professor Modupe Omirin, Dean of Faculty of Environmental Sciences, University

of Lagos; Arc. Tina Onokwai, Director Federal Public asset Maintenance in the Ministry of Works & Housing and other members of the association. In his welcome address, Mr. Segun Adebayo, the President of IFMA, Nigeria Chapter applauded the Federal Ministry of Works and Housing under the leadership of Mr. Babatunde Raji Fashola, the Minister of Works and Housing for a commendable job in ensuring the assent of Executive order 11

on National Public Buildings Maintenance. “The effort of the Ministry of Works & Housing on this laudable achievement has indeed renewed our hope of providing professional attention to the Country’s numerous facilities and her growing infrastructure. In fact with this feat, I am delighted to say that maintenance culture has fully resurrected in our nation, “the President of IFMA Nigeria said.

L-R: Chairperson, Corporate Communication Committee, Mrs Nsima Ogedi-Alakwe; President / Chairman of Council, Mr. Idorenyen Enang; Chairperson, Conference & Events Committee, Mrs Adenike Olufade; Registrar, Mr Sidney Ogodo, all members of the National Institute of Marketing Nigeria (NIMN) at a media parley on the forthcoming annual Conference/AGM of the Institute, held at their secretariat in Lagos… recently

T H I S D AY ˾ TUESDAY, MAY 31, 2022

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

3 0 , 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%

3.65m Barrels Production Shut-in at Bonny Terminal Raises Nigeria’s April Crude Losses by 300%

Emmanuel Addeh in Abuja With over 3.65 million barrels of crude oil shut-in at the Bonny Terminal during the March/April productions circle, Nigeria’s total losses, month-on-month rose by over 300 per cent. A THISDAY analysis of the latest figures from the Nigerian National Petroleum Company (NNPC) indicated that the huge loss was due to a force majeure on the critical line,

which supplies a substantial part of the country’s export. Overall, between March 3 and April 1, the production curtailment pushed the country’s total loss to 5.545 million barrels of crude for the month under review as opposed to 1.69 million barrels previously. The development meant that crude oil production at Bonny terminal dropped significantly while the operators declared force majeure on all outstanding agreements for

the period. It came a month after Nigeria recorded significantly less oil production losses in the February/March drilling cycle, with shutdowns arising from sabotage, force majeure, crude production assets’ breakdowns and community issues markedly down to 1.69 million barrels for the entire month. Force majeure refers to a clause in contracts that allows both parties to walk out of the contract when an

extraordinary event or circumstance beyond the control of the parties happens. It was seen as a major improvement on the January 2022 high of 7.5 million barrels lost to the phenomenon, a development that has negatively impacted the country’s capacity to export the commodity. Nigeria has for months been unable to meet the production quota allocated to it by the Organisation of Petroleum Exporting Countries

(OPEC) due to losses to facilities’ breakdown, vandalism and outright sabotage as well as community issues. The menace has further impacted on government institutions as well as individual operators who have recently raised the alarm over the humongous losses the nation and private entities are being subjected to. Among those who have raised the alarm over the situation in recent times were the Governor of the Central Bank of Nigeria (CBN), Godwin

Emefiele as well as the Chairman, Independent Petroleum Producers Group (IPPG), Mr Abdulrasaq Isa. Further lamenting the situation recently were the management of Aiteo Eastern Exploration and Production Company (AEEPCO), operators of the Nembe Creek Trunk Line (NCTL) pipeline, one of the most impacted by the activities of vandals. Continued on page 28

CBN Tightens Monitoring of Discos’ Utilisation of Intervention Funds Peter Uzoho The Central Bank of Nigeria (CBN) has embarked on a tour of the power Distribution Companies (Discos) to monitor and evaluate how the Discos utilised the capital expenditure (Capex) intervention funds provided by the apex bank to enable the Discos upgrade their networks for improved supply to customers.

Already, the CBN’s monitoring team led by the Director of Finance, Mr Yusuf Yila has visited the two Discos serving Lagos State and adjoining locations -Eko Electricity Distribution Company (IKEDC) and Ikeja Electric (IE). The apex bank had embarked on several performance improvement projects to reduce the various challenges plaguing the electricity industry in Nigeria.

The CBN intervened by funding the procurement, installation, rehabilitation, and replacement of some electricity distribution infrastructure such as 11kv and 33kv feeders, switchgear, and many more to assist the Discos’ capacity in the delivery of adequate and reliable power supply to Nigerians. In addition, the CBN commenced phase zero of the National Mass Metering Programme (NMMP) in

FOOD

COMMODITIES

NAME OF COMMODITY

SIZE

STATE

PRICE

NAME OF COMMODITY

RICE

100KG

ABUJA

N23,000–N25,000

SORGHUM

50KG

OYO

N22,000-N25,000

50KG

PLATEAU (JOS)

N23,500-N25,000

50KG

KWARA N24,000–N27,000

50KG

LAGOS

50KG

RIVERS N23,000–N26,500

50KG 50KG

N23,000–N26,500

SOKOTO N11,500–N13,000 EDO

N17,000–N20,000

2020 to address the problem of metering and help solve the high Aggregate Technical, Commercial and Collection (ATC&C) losses in the Nigerian Electricity Supply Industry (NESI). Speaking during the visit to EKEDC headquarters in Lagos, after getting briefings from the Disco’s Chief Executive Officer, Dr Tinuade Sanda, the leader of the CBN team, Yila, commended

SIZE

PRICE

STATE

100KG JIGAWA

the Disco for its sheer effort towards the achievement of the Federal Government/CBN intervention schemes. According to him, the team came to the Disco to “ensure that the funds disbursed are adequately utilised, and to listen to the challenges that have emanated in the course of implementing these projects.” Yila also emphasised that the

NMMP was very important to the CBN as the tour was also meant to carry out due diligence on the execution of phase zero of the scheme and how the apex bank and the Disco can collaborate better in proceeding to the next phase. Earlier, the EKEDC CEO had expressed her appreciation to the bank for its effort in improving the Continued on page 28

T O D AY

PRICE

NAME OF COMMODITY

N9,000

C O C OA

SIZE

STATE

PRICE

1 TON

ONDO

N740,000 – N760,000

1 TON

OSUN

N730,000 – N750,000

1 TON

EDO

N720,000 – N740,000

100KG

BENUE

N8,500

100KG

KADUNA

N8,500

50KG

ENUGU

N23,000

50KG

LAGOS

N17,000

1 TON

CROSS RIVER

N700,000 – N720,000

100KG

DELTA

N23,000

1 TON

AKURE SOUTH, ONDO

N730,000 — N755,000

TUESDAY, MAY 31, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS FOOD

NAME OF COMMODITY

PALM OIL

SIZE

STATE

PRICE

25CL LAGOS N20,000-N25000 25CL

NAME OF COMMODITY

TOMATOES

N21,000 – 24,000

COMMODITIES SIZE

STATE

40KG BENUE

PRICE

N15,000

40KG

KADUNA

N5,000

40KG

ABIA

N18,000

25CL IBADAN N18,000-N22,000 25CL

IMO

N21,000–N24,500

25CL

EDO

N17,000–N20,000

25CL ABUJA

N19500- N25000

25KG LAGOS

N9,500

40KG DELTA

N17000

PRICE

T O D AY

NAME OF COMMODITY

SIZE

STATE

PRICE

ONIONS

100KG

IBADAN

N25,000

100KG

KANO

N10,000

100KG

BENUE

N27,000

100KG GOMBE

N12,000

100KG DELTA

N21,000

100KG LAGOS

N25,000

100KG ENUGU

N15,000

100KG

N29,000

ABIA

NAME OF COMMODITY

MAIZE

LOCATION

PRICE

100KG JIGAWA

N9000

100KG ENUGU

N24000

100KG DELTA

N15000

100KG ABIA

N14000

50KG LAGOS

N13500

SIZE

Global Carbon Pricing Generates Record $84bn in Revenue Emmanuel Addeh in Abuja Global carbon pricing revenue in 2021 increased by almost 60 per cent from 2020 levels, to around $84 billion, a new World Bank report, has shown. The World Bank document noted that this provides an important source of funds to help support a sustainable economic recovery, finance

broader fiscal reforms, and invest in communities. According to the World Bank’s annual “State and Trends of Carbon Pricing” report, there are 68 direct carbon pricing instruments operating today including 36 carbon taxes and 32 Emissions Trading Systems (ETSs). Four new carbon pricing instruments, it said, were

implemented since the release of the 2021 State and Trends of Carbon Pricing report: one in Uruguay and three in North America. It explained that while carbon prices hit record highs in many jurisdictions, the report found that less than 4 per cent of global emissions are currently covered by a direct carbon price in the range needed by 2030 to

meet the temperature goal of the Paris Agreement. “The past year has seen some very positive signs, such as the significant increase in revenue that can be invested in communities and in supporting the low carbon transition. “There is also good progress towards resolving cross-border issues related to carbon pricing and the

adoption of new rules for international carbon markets that was agreed at COP26 in Glasgow, which helps set a clearer policy direction,” said Bernice Van Bronkhorst, Global Director for Climate Change at the World Bank. “It is important now to build on this momentum and really ramp up both the coverage and the price levels to unlock the full potential of

carbon pricing in supporting inclusive decarbonisation,” she added. Key topics covered in the State and Trends of Carbon Pricing 2022 include cross-border approaches to carbon pricing, challenges and opportunities from rising energy prices, and new technologies and governance frameworks shaping carbon markets.

Report: Oil, Gas Investment Set to Rise by 20% in 2022 Despite Uncertainties Emmanuel Addeh in Abuja Global oil and gas investment is set to rise by 20 per cent this year, according to Rystad Energy, a research and business intelligence company providing data, tools, analytics and consultancy services in the energy industry across the globe. Rystad noted that the growth will be driven by

soaring oil prices and big money flowing into projects in West Africa Brazil, Guyana and Australia. Earlier this year, Rystad had forecast 8 per cent growth for 2022, but, with Brent consistently topping $110 and West Texas International (WTI) flirting with the same levels, it said the world was witnessing the highest growth rate forecasts

since 2008. Globally, the biggest uptick in investment, it said, is coming from places like Guyana, where ExxonMobil has witnessed a string of major discoveries over the past seven years. “This year alone, Exxon, with partners Hess and CNOOC, has made five oil discoveries in the Stabroek Block offshore Guyana, now

updating resources to nearly 11 billion barrels, ”it said. Meanwhile, oil-producing countries like Nigeria, which are already slowed down by the reduction investment in fossil fuels, may have more to contend as rich countries continue to withdraw investment abroad. Members of the Group of Seven industrialised nations, known as G7,

has pledged to end public financing for fossil fuel projects abroad by the end of the year to help combat global warming. “We commit to end new direct public support for the international unabated fossil fuel energy sector by the end of 2022,” G7 energy and climate ministers said in a joint statement. The term “unabated”

refers to projects that do not employ techniques to offset some of the pollution caused by carbon dioxide emissions. Ending subsidies for the international fossil fuel energy sector was already part of a series of commitments agreed to by around 20 countries at last year’s COP26 climate summit in Glasgow.

Stokman Harps on Improved Operational Efficiency in Midstream-Downtown Oil Sector Peter Uzoho Chief Executive Officer of OVH Energy Marketing Limited, Mr. Huub Stokman, has stressed the need for petroleum marketing companies in Nigeria to retool their service models to ensure excellent customer satisfaction and improved operational efficiencies. He stated that with the proposed deregulation of the downstream sector backed by the Petroleum Industry Act

(PIA), Nigeria would soon have a functioning refinery landscape which will create value for the country. Stokman stated these in Lagos while speaking as a panellist at the just-ended Nigerian Content Midstream and Downstream Oil and Gas Summit, with the theme, “Maximizing Potential in the Midstream and Downstream Oil and Gas Sector – A Local Content Perspective.” The even was organised by

the Nigerian Content Development and Monitoring Board (NCDMB). Contributing on the topic, “Opportunity Areas and Challenges of Investment in the Petroleum Product Marketing and Bunkering Sector,” Stokman said stakeholders must properly capture the upcoming value in the downstream sector through safe and sustainable operations down the value chain to avoid waste.

He explained that once deregulation happens, the price of petrol -which currently sells for the government’s approved price of N165 per litre, would probably increase, arguing that when that happens, the consumer would naturally request more value for money. He said: “The retail forecourt offerings in the industry are not on par with those of other countries on the continent. Once deregulation

happens, the price of premium motor spirit will probably increase. “When this happens, the consumer will naturally request more value for money. When we pay more, we typically want more. To satisfy the consumers demand, industry players must guarantee the quality, quantity, and excellent customer service in a safe and secure environment”. Stokman, however, highlighted key challenges facing

the manufacturing industry that supports the oil and gas industry, including reliance on import of critical raw materials, inflation and currency devaluation, as well as industry skills shortage arising from skilled Nigerians moving overseas. He noted that investments done by the oil and gas industry in upskilling existing manpower will contribute to build in-country people skills availability.

3.65M BARRELS PRODUCTION SHUT-IN AT BONNY TERMINAL RAISES NIGERIA’S APRIL CRUDE LOSSES BY 300%

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)

Also adding their voices to draw attention to the negative impact of the menace were the Founder, Heirs Holdings ltd, Mr Tony Elumelu, Co-founder and former Chief Executive Officer of Seplat Energy Plc, Mr Austin Avuru and the General Overseer of the Redeemed Christian Church, Pastor Enoch Adeboye. Nigeria’s upstream petroleum sector has struggled in the last one year, due to deteriorating facilities occasioned by waning investment as well as oil theft, sabotage and community issues. Since this year, the NNPC has failed to remit its statutory funding of the Federation Account, a joint pool collectively operated by the federal, state and local governments since

the beginning of this year despite the rising international prices of oil. But Bonny which lost the highest amount of oil for the period, according to the THISDAY review, was followed by Odudu terminal which experienced a whopping 937,663 barrels leakage due to what the NNPC described as maintenance work. At the Excravos end, Nigeria shed as much as 329,832 barrels due to community issues, with roughly 9,000 barrels shut in per day, according to the document. In addition, Jones Creek lost 227,000 barrels due to the stalling of production at Ugwocha for three weeks. The story was not different in

Ukpokiti which lost 210,000 barrels as a result of a fire incident as well as 180,000 barrels in Brass due to tank management issues, while Aje and Bonga lost 11,000 barrels and 174 barrels respectively. Meanwhile, exports of Nigerian Forcados crude are due to rise in July while volumes from the Bonga stream will fall slightly, preliminary export programmes seen by traders, have shown. Forcados will load 263,000 barrels per day (bpd) in July, up from 245,000 bpd in June, while Bonga will load 123,000 bpd in July, down from 127,000 bpd the previous month. Last month, the Group Managing Director, NNPC, Mr Mele Kyari

while appearing before the House of Representatives Committee on Petroleum (Upstream), confirmed that Nigeria can only get 3,000 barrels out of 239,000 barrels injected into the pipeline from Bonny Terminal. He further disclosed that the country lost $4 billion to theft at the rate of 200,000 barrels per day in 2021. He added that the country already lost $1.5 billion so far in 2022 because, according to him, vandalism had escalated. “Indeed what is happening are massive acts of vandals and thieves on our pipelines that have first made us lose our volume. Secondly, it forced us to shut down production. “The difference between the

current production of 1.49 million and our potential that we can easily do –close to 1.8 million or so—at an independent level is not necessarily stolen and they are not within the reach of ordinary vandals. “What has been in massive difficulty is the production from the independents and the Joint Ventures. Unfortunately, except for the ExxonMobil production, most of our JVs are onshore. This is where we have the challenge,” he said. He said the rate of vandalism has forced the NNPC and its JV partners to shut down two production fields, stressing that the NNPC had to abandon the lines because removing the breach will not deter the oil vandals.

CBN TIGHTENS MONITORING OF DISCOS’ UTILISATION OF INTERVENTION FUNDS power sector, pointing out that the bank’s funded Capex projects had aided the Disco in improving its supply to meet the high demand for electricity in its network. Sanda said the projects had

brought about the rehabilitation and replacement of obsolete equipment, adding that “the NMMP came at the appropriate time to reduce our losses and cushion the effect of the Service Reflective Tariff.”

Sanda assured CBN that EKEDC was fully committed to the achievement of the projects, which some of them were still ongoing, stating that the rationales for the projects aligned with the Disco’s corporate

goals and objectives. She admitted that the apex bank was diligently working to ensure that the projects were contributing to the company’s growth via the establishment of a market review

committee. This it said would evaluate the performance of the company monthly as well as a prepaid meter monitoring team that ensures meters installed are not bypassed.

T H I S D AY ˾ TUESDAY, MAY 31, 2022

BUSINESSWORLD

OIL & GAS

NNPCVs Seplat: What Exactly is the Endgame? The spanner thrown in the works of Seplat Energy, a private oil firm, in its bid to acquire assets owned by Mobil Nigeria Limited, at a time the nation is in dire need of private investment, will have consequences for the oil industry, writes Emmanuel Addeh

lthough Charles Dickens may not have had the oil industry in mind when he wrote his opening lines “It was the best of times, it was the worst of times”, in “A Tale of Two Cities”, however, that clearly depicts the oil industry at the moment. It’s the best of times for most oil-producing countries because as the price of oil continues to stabilise above $100 for months, a rarely seen phenomenon, they have literally continued to cash out. But in contrast, it’s also the worst of times because globally, investment in fossil fuels, of which oil is chief, is gradually drying up amid the rush for renewable sources of energy and efforts by world powers to cut carbon emissions. Therefore, many Nigerians who follow the oil industry closely were excited earlier in the year, when information leaked that Seplat, an indigenous oil company was in the process of acquiring the entire offshore shallow water business of ExxonMobil in Nigeria. But for industry players who believe in free enterprise and the massive breakthrough that the deal represented for wholly Nigerian-owned businesses, the elation was short-lived: The staterun Nigerian National Petroleum Corporation (NNPC) had placed a cog in the wheel of the progress of the process.

THE DEAL

Essentially, Mobil holds a 40 per cent stake in four oil mining licences, including more than 90 shallow-water and onshore platforms as well as 300 producing wells in the country. In the agreement, seen as the first since the signing of the Petroleum Industry Act (PIA) by President Muhammadu Buhari in August last year, Seplat Energy Offshore Limited, a subsidiary of Seplat Energy Plc, had entered into a Sale and Purchase Agreement to acquire the entire share capital of Mobil for a purchase price of $1.283 billion plus up to $300 million contingent consideration. The transaction, the document stated, encompassed the acquisition of the entire offshore shallow water business of ExxonMobil in Nigeria. According to the sponsors, the deal was supposed to create one of the largest independent energy companies on both the Nigerian and London Stock Exchanges, and bolster Seplat Energy’s ability to drive increased growth, profitability and overall stakeholder prosperity The deal, at the time THISDAY exclusively reported it, was expected to deliver 186 per cent increase in production from 51,000 bpd to 146,000 bpd or 170 per cent increase in 2P liquids reserves, from 241 MMbbl to 650 MMbbl. In addition, it was expected to deliver a 14 per cent increase in 2P gas reserves from 1,501 Bscf to 1,712 Bscf, plus significant undeveloped gas potential of 2,910 Bscf (JV: 7,275 Bscf) Furthermore, it would increase by 89 per cent, the total 2P reserves from 499 MMboe to 945 MMboe, including offshore fields with dedicated, MPNU-operated export routes offering enhanced security and reliability. In the oil industry, 2P reserves are the total of proven and probable reserves while probable reserves are less likely to be recovered than proven reserves. Being the first transaction to be announced since the Nigerian government’s recently ratified PIA, the company stated that the deal will support Nigeria’s energy transition and objectives of the new Act. In summary, the assets primarily comprise a 40 per cent operating ownership of four oil mining leases (OMLs 67, 68, 70, 104) and associated infrastructure with NNPC being owner of the rest 60 per cent. It includes the Qua Iboe Terminal, one of Nigeria’s largest export facilities as well as a 51 per cent interest in Bonny River Terminal and Natural Gas Liquids Recovery Plants at EAP and Oso. According to the document, the cash consideration payable under the transaction will be funded through a combination of existing cash resources and credit facilities of Seplat Energy, and a new $550 million senior term loan facility and $275 million junior offtake facility. It was to be funded through a global financing syndicate comprising Nigerian and international banks, as well as commodity trading companies, while contingent payments, if materialised on Brent oil price annual average above $70/bbl, will be funded through share of net cash flows from operations. Under the Sale and Purchase Agreement, Seplat Energy was expected to pay a deposit of $128

has been missed. “Great opportunities in the past that would have moved the oil and gas industry to a higher level and increased government revenues have been carelessly been allowed to slip off the country’s hand in the past because of lack of vision,” he added.

FORGING AHEAD

million, which will be applied towards the purchase price on closing.

BAD NEWS

But the federal government has now turned down the application for ministerial consent necessary to seal the planned $1.3bn planned deal. Among others, it cited overriding national interest as one of the reasons for rejecting the deal. In two separate letters, the Chief Executive, Nigerian Upstream Regulatory Commission (NUPRC), Mr Gbenga Komolafe, addressed to Seplat, the commission listed various reasons, mostly technical, for its actions. Not a few see these reasons as merely attempting to throw the baby away with the bathwater. In summary, the federal government listed overriding national interest, failure to follow due process and alleged inappropriate application as its reasons for rejecting to append the much needed ministerial consent, a requirement for the consummation of the deal. On the issue of overriding national interest, NUPRC acknowledged that although Mobil remains the assignor of the asset under the Nigerian law, national interest must override every other consideration. It insisted that this principle will always be the compass through which decisions are taken. But the term national interest remains a weird and ambiguous term and many say that in this case, it has not been properly defined. The regulatory commission stated that until an assignment was completed, including the granting of ministerial consent to such assignment, the leaseholder remains the registered owner of the asset and the only one with the locus to interact with the government in respect of the asset. On the second point, NUPRC stated that Mobil failed to follow due process in its plan to acquire the assets. ”We also note that MPNU failed to follow the procedure for assignments laid down in the guidelines by not providing the requisite notices to the commission at all relevant stages of the transaction. “Even if the transaction has been between Seplat Energy Offshore Limited and the MPNU shareholders, responsibility to ensure compliance with Nigerian laws, rules and regulations always remain that of MPNU, the entity that was awarded the assets,” it noted. Yet, on the third issue of inappropriate application, in the letter to Seplat, the commission while highlighting relevant sections in the guidelines and procedures for obtaining minister’s consent, stated that it would have been the duty of Mobil to bring the application to the minister and not Seplat. It added: “Thus, regardless of the mode of the transaction, MPNU, remains, to all intents and purposes, the assignor under Nigerian law and is the proper person to bring an application for ministerial consent to the transaction, not Seplat. “Consequently, you are hereby requested to revert to MPNU, the assignor, to receive updates on your application,” the federal government agency stated. Then the killer blow: “We regret to inform you that His Excellency, the Minister of Petroleum Resources has declined his consent

to the transaction,” the letter stated.

REACTIONS QUENCES

AND

CONSE-

Although the federal government has not foreclosed the chance that the process could be reworked and hadn’t completely put a lid on the deal, the decision to effectively halt the process came as a shock to Nigerians. At a time investment in fossil fuels is waning and Nigeria had continued to complain about the development, it was thought that the deal would be supported by the federal government. A handful of energy experts have also lent their voices in condemning what seemed an abrupt end to what could have created a pathway for more Nigerians to own assets being disposed by the IOCs. Analysts believe that the move by the NNPC will not only discourage would-be indigenous investors, but would constrain lenders from taking such decisions when uncertainty still rules in the industry. It is argued that with the nature of the arrangements in the sector, the NNPC literally runs things and has not fully justified its participation therein and therefore would be asking for too much if it is allowed to muscle private enterprise because of yet unclear reasons. “I doubt if the NNPC has the financial backing to complete the transaction. We are talking about $1.3 billion worth of assets. For instance the NPDC financials and it still has close to N2.3 trillion in receivables. “ I don’t see where the money is coming from. The NNPC may be biting more than it can chew with this move” an Oil and Gas Analyst with Chapel Hill Denham, Mustapha Wahab, told Arise Television, THISDAY’s broadcast arm. Still on capacity, he noted that there was no doubt that the private company has shown capacity over the last 10 years, especially given that oil prices are skyrocketing which is driving robust economics of the company. Also, a former Senior Technical Adviser (Upstream Gas Policy and Regulation) under the immediate-past Minister of State for Petroleum, Dr. Ibe Kachukwu, Gbite Adeniji, and ex-board member of the Nigeria Extractive Industries Transparency Initiative (NEITI) has faulted the move by the authorities. The former Managing Partner at ENR Advisory, said the ministerial consent denial in the deal was telling, stressing that the message implied that real players and investors were not wanted or desired in Nigeria. He spoke in Lagos at the public presentation of a book written by a former Managing Director of the Nigeria Liquefied Natural Gas (NLNG) Limited, Dr. Godswill Ihetu. According to him, the refusal of the minister, President Muhammadu Buhari, to grant Seplat the go-ahead with the asset purchase deal with ExxonMobil would send wrong signals to foreign investors. “And it was interesting on today’s headline, about the denial of ministerial consent to the sale of Exxon’s interest in MPNU to Seplat, and that’s telling. “The message seems to be that real players are neither wanted nor desired in Nigeria. We need to be worried”, he stated. He argued that the deal presents the country with one of the great opportunities of boosting and bringing more investment to the oil industry, but that the opportunity

But forging ahead, the indigenous firm has assured its shareholders that it is hopeful that it will complete the acquisition of the assets of Mobil Oil Producing Nigeria Unlimited (MPNU). During its Annual General Meeting (AGM), held in Lagos, recently, its Chief Executive, Roger Brown, said the energy industry in Nigeria has a bright future and as Nigeria’s indigenous energy leader, the company has set its sight on powering the country’s energy transition and future prosperity. “Once we have completed our acquisition of MPNU, we will add significant production from offshore assets with dedicated export terminals that also have higher availability and lower reconciliation losses,” Brown stated.

AN END FORETOLD

While the business community was upbeat that a wholly Nigerian company was taking over the shares of an international oil company that had operated for about six decades in the country, there were already signs that the NNPC may have created a wedge in the highly acclaimed transaction. At the time, THISDAY had learnt from reliable sources that the state-owned oil giant had opted to exercise its Right of First Refusal (RFR) on the sale of the assets. The RFR is reportedly contained in the Joint Operating Agreement (JOA) of the Joint Venture (JV), which represents NNPC’s position on the planned sale of the shares to Seplat Energy Plc. As usual the national oil firm will rarely directly address the public on topical issues of national concerns, but will rather go through minions and third parties. However, the contention is that whereas the NNPC has right of pre-emption over the sale of assets, it does not have right over sale of shares, which Seplat says the extant deal which involves the company buying ExxonMobil’s shares is all about. However, a reliable source told THISDAY that the politics underlying the stoppage of the deal could markedly derail the new verve the Petroleum Industry Act (PIA) was expected to bring to the industry. It was surprising therefore, a source said, that the NNPC, which has not shown much capacity to get results, having failed in all its targets in recent years, would be stopping a deal applauded by most Nigerians. But a letter signed by the Group Managing Director, Mele Kyari, and addressed to ExxonMobil, had quoted NNPC as reiterating its resolve to take over the company’s share of the assets. “We are aware that you reached an agreement to divest from onshore and shallow waters JVs,” the letter read, adding, “Clearly we are interested.” Publisher of the Africa Oil and Gas Report, Toyin Akinosho, who had spoken on Arise News Channel, had also raised the alarm over what he described as the national oil company’s attempt to crowd out private investors, saying that enough space should be created for some level of diversity in investment. “That alarm has now proved to be a wakeup call on increasingly seemingly grab all posture,” he said, urging the NNPC to free the space for entrepreneurs to come in and insisting that the company already has a lot in its basket and was even finding it difficult to cope. Akinosho maintained, “NNPC is in JV with companies that produce at least 45 per cent of our crude. That’s a lot of material for them already. The assets they operate are the least optimised of all the assets in the industry.” Wood Mackenzie, a company providing insights on the world’s natural resources, while lauding the deal had described it as a win-win for Seplat, ExxonMobil, and the Nigerian government, offering huge upside for oil and gas. “Because this is a corporate acquisition, NNPC has no rights to pre-empt a deal under the Joint Operating Agreement (JOA), which governs the JV. “This means that ministerial consent would be the only hurdle remaining, although nothing can be taken for granted. Alas, many Nigerians who were upbeat about the deal took this for granted too early. So, what next? Will the NNPC through the federal government agencies kill the deal? The next few months will tell.

TUESDAY, MAY 31, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

ALL EYES ON HIGHER RETURNS…

L- R: Executive Director/Chief Operating Oﬃcer (COO) ,11PLC, formerly Mobil Oil Nigeria Plc, Ramesh Virwani; Non-Executive Directors, Lawal Idrissu , Abdulkadir Aminu; Company Secretary,Olumayowa Meseko; Non-Executive Director, Paul Obi, and Managing Director, Tunji Oyebanji, during the company’s 44th Annual General Meeting in Abuja… recently

IITA Unveils New Varieties to Boost Cassava Production Gilbert Ekugbe The International Institute of Tropical Agriculture (IITA) has unveiled new cassava varieties developed by the NextGen project to boost cassava production in the country. In a statement, IITA during a farmers’ field day and product launch excited farmers in Kogi and Benue States as they expressed awe at the large sizes and number of roots produced by the new cassava varieties. The farmers spoke about the difference between the new varieties and the old ones, saying Baba 70 and Game Changer yielded more than local varieties, which they were used to. Some took a few stems to plant in their fields, saying they

would love to adopt the new varieties. According to the breeders, while Game Changer can produce 32 tonnes per hectare, Baba 70 can produce 38 tonnes per hectare. It was also proven that the new cultivars were droughttolerant and resistant to the virus diseases of cassava. Speaking at the event, a Molecular Geneticist and Plant Breeder with IITA, Dr. Ismail Rabbi, stated that years of consumer preference studies were conducted before releasing the varieties. Rabbi said: “In addition to high yield and stress tolerance, we found that these varieties are suitable for several agro-ecologies. Farmers, processors and consumers love these varieties because they were high-yielding, stress-tolerant,

and disease-resistant and had the right food properties.” The Head of IITA GoSeed, Dr. Mercy Diebiru-Ojo, said that the varieties would help to raise the livelihoods of farmers. “I am confident that farmers who adopt these varieties will make more profit and improve their livelihoods. These varieties are also a huge contribution to food security,” she added. Speaking on the field, the Product Manager for Crop Variety Development, IITA, Dr. Vishnuardhan Banda, expressed joy that the farmers and processors were happy with the new varieties and eager to plant them on their farms. Banda, however, urged them to always send feedback on the performance of the varieties to the researchers. His words: “We want you

to work with us. You are very important in the process of crop improvement. You are the farmers and the first consumers. We urge you to always tell us how these varieties are performing on your various farms. You have seen that these are very good varieties but we know that in years to come, you would need something new. Just keep giving us feedback about farmers’ choices and complaints, and we the breeders will be working with that information to give you new and better products.” The former Nigerian Ambassador to Brazil, Paraguay and Bolivia, Ambassador Jaiyeola Lewu, was present at the event, commended the NextGen project and the IITA and NRCRI scientists.

AfDB Calls for Strengthening of Seed Councils, Stricter Quality Seed Control Gilbert Ekugbe The African Development Bank (AfDB) has called on African governments to strengthen their seed councils to enable them to achieve greater outputs in the continent’s bid to attain food security. The AfDB also stated the need for these councils to enforce stricter seed quality control measures to test for purity and germination. The Director, Agriculture and Agro-Industry, AfDB, Dr. Martin Fregene, said at the Technologies for African Agricultural Transformation (TAAT) investors’ forum that certified seeds required regulation. Fregene maintained that African governments should create a level playing field in

order to attract the private sector into the sector. He said: “Why will a seed company want to sell certified seeds when I know all my competitors are selling grains and nobody is checking them. So we need not just laws, we need also the physical infrastructure, the human resource to enforce those laws. Do you know that out of six fertilizer samples, only one actually have the nutrient they claim to have the NPK somebody has to enforce quality controls.” He also highlighted the need for African governments to address trade barriers that have hindered the facilitation of intra-African trade, and pointed out that these barriers have made the agricultural sector

unattractive to the private sector. He added: “The private sector needs financing to be able to invest in this sector as well as bringing their equity. They also need financing working capital and for a very long time, Africa has always been seen as a high-risk environment. Some countries have gone ahead to create risk sharing facilities.” Fregene advised governments to prioritise agricultural development by enforcing laws that would encourage commercial banks to lend a certain percentage of their deposits to the sector. According to him, “there is a need for policy to force commercial banks to lend to the sector or pay fines if they do otherwise. This

is the way it has been done in developed economies.” Earlier, the Head, TAAT Clearinghouse, Dr. Innocent Musabyimana, said that TAAT is planning to use the investors forum to specifically bring together the technology developers and the private sector. Musabyimana said: “We are trying to bring all these technologies that are proven and ready to be used and into the hands of millions of farmers on the continent and the good news is that this is already happening. We have started to reap some impacts and positive impacts by bringing technology developers and TAAT is putring in place a mechanism for deploying this technology into the hearts of millions of farmers.”

Lewu described the varieties as game changers in the agricultural sector, saying that farmers would benefit immensely from them. In his response, the Advocacy Outreach and Promotions Lead of the IITA Building an Economically Sustainable Integrated

Cassava Seed System, Phase 2 (BASICS-II) project, Dr. Godwin Atser, who spoke on behalf of the Project Manager, Prof. Lateef Sanni, stated that the BASICS-II project would use its seed system model (BASICS model) to ensure that farmers get access to new and improved varieties.

Nigeria Committed to Attaining Self-sufficiency in Sugar Production, Says NSDC Boss James Emejo and Joel Ita in Abuja The Executive Secretary/ Chief Executive, National Sugar Development Council (NSDC), Mr. Zacch Adedeji has said reiterated the commitment of the current administration towards achieving self-sufficiency in local sugar production. Speaking when the management of the Abubakar Tafawa Balewa Teaching Hospital (ATBTH) paid him a courtesy visit, he said the country needed to cultivate 250,000 hectares of land to attain self-sufficiency in sugar production. He said the continued importation of raw sugar into the country remained a major limitation towards the development of the industry as jobs are being exported to other countries. Nonetheless, Adedeji said with the 150,000 hectares of acquired land dedicated for irrigated sugarcane cultivation, the sector would meet 50 per cent of local consumption demands. He added that the four licensed sugar producers in the country refine more than what is consumed in the

country annually although new investors are welcomed. He said, “Before the Sugar Master Plan, what normally happens is to import refined sugar into the country. But since 2013, we have stopped the importation of refined sugar. Subsequently, the sugar companies focused on refining, so, the capacity all have doubled, to 3.5m metric tons, our consumption, which means we have enough capacity to export outside Nigeria. However, Chairman of ATBU’s Governing Board, Abba Lawal, said the visit was to solicit ways the hospital could upgrade to curb medical tourism among Nigerians. He said deliberate efforts were being made to accommodate mandate teaching, research and services, adding that the hospital doesn’t have adequate facilities and equipment to treat patients in the state and neighboring communities presently. As a result, he said the hospital had been losing a lot of VIP patients that had to seek alternatives measures given the inadequate facilities at the health institution.

T H I S D AY ˾ TUESDAY, MAY 31, 2022 BUSINESSWORLDNEWS

FG, IFAD, Disburse Agro Inputs to 958 Farmers to Boost Rice Production James Emejo in Abuja No fewer than 958 vulnerable farmers in Kogi and Niger States have accessed agro-inputs to sustain rice production in order to enhance food security in the country in the aftermath of the COVID-19 pandemic. The intervention is made possible through the International Fund for Agricultural Development (IFAD) COVID-19 Rural Poor Stimulus Facility grant. Speaking at the flag-off of the programme in the states, the acting National Programme Coordinator, FGN/IFAD Value Chain Development Programme, Dr. Fatima Aliyu, said the grant is meant for vulnerable farmers in VCDP states including Enugu, Kogi, Nasarawa, Anambra, Benue, Niger, Taraba and Ebonyi, to sustain production and help them recover more quickly from the impact of the pandemic. She said the project aims to improve the incomes and food security of poor rural households engaged in the production, processing and marketing of rice and cassava on a sustainable basis. She noted that in early 2020, there was an outbreak of the COVID-19 pandemic which affected the world and disrupted farming activities and food systems. As a result, to cushion the effect of the pandemic on farmers, IFAD gave a grant tagged Rural Poor Stimulus Facility (RPSF) to VCDP through the Federal Ministry of Agriculture and Rural Development. Through the RPSF, 2,793 vulnerable farmers will receive agro-inputs to support their farming activities. These inputs distributed free of charge consist of 40kg of certified rice seeds, two liters of herbicides, two bags of NPK and one bag of Urea fertilizers. Aliyu said 560 farmers benefitted from the intervention in Kogi including 398 in Niger. The VCDP will also provide extension services to targeted farmers who will receive training on good practices in the application of fertilizers and agro-chemicals as well as farm management and climate-smart agriculture. According to the national coordinator, to enhance transparency in the process, the programme had engaged International Fertilizer Development Centre (IFDC) for the effective management of the input - supply, redemption and delivery in all the nine states through the voucher input redemption system. She further pledged an unwavering collaboration with the states to improve the livelihoods and income of farmers and implore them to make judicious use of the inputs. She added, “The inputs are not meant to be sold out but for you to use them on your farms. We are going to support you with extension services and monitor your progress to ensure you have better yields to enhance your food security and incomes and ultimately your standard of living.” She also appreciated the support of IFAD in the country’s quest to improve the livelihoods of smallholder farmers and specifically to mitigate the effects of COVID-19 pandemic on the agricultural sector particularly for VCDP farmers.

TUESDAY, MAY 31, 2022 ˾ T H I S D AY

BUSINESSWORLD

INDUSTRY

More Troubles for Manufacturers The Manufacturers Association of Nigeria has decried the recent monetary policy decision of the Central Bank of Nigeria and appealed the apex bank to reduce the stringent conditions for accessing available development funding windows to the manufacturing sector at single digit interest rate, writes Dike Onwuamaeze

embers of the Manufacturing Association of Nigeria (MAN) are worried about the recent decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to tighten its monetary policy stance on May 24 by increasing the Monetary Policy Rate (MPR) to 13.5 per cent from 11.5 per cent. The MPR has remained at 11.5 per cent since September 2020. The Governor of CBN, Mr. Godwin Emefiele, who announced the hike in MPR rationalised the increase on the need to dampen the expectation of inflationary pressure in the economy an avert a sharp rise in capital outflow and faster dry-up of foreign credit lines. Emefiele said that the MPC felt that tightening would help moderate the inflationary trade-off from the steady growth recovery so far. MPC also feels that tightening would help rein in inflation before it assumes a galloping trend. Headline inflation (year-on-year) ticked up to 16.82 per cent in April 2022 from 15.92 per cent in March 2022. This is the third consecutive increase in inflation since the commencement of the year 2022, attributable to the rise in both the core and food components to 14.18 and 18.37 per cent in April 2022 from 13.91 and 17.20 per cent in March 2022, respectively. He said: “After carefully reviewing the developments of the last two months and the outlook for both the domestic and global economies, as well as the benefits and downsides of each policy option, the committee decided to raise the MPR to rein in the current rise in inflation as members were of the view that the continued uptrend would adversely affect growth.” But MAN, in its preliminary position on the MAY 24, 2022, MPC decision stated that this is another level of increase in interest rates on loanable funds, which would no doubt upscale the intensity of the crowding out effect on the private sector businesses as firms have lesser access to funds in the credit market.

THE POSITION OF MAN The Director General of MAN, Mr. Segun Ajayi-Kadir, who expressed the concerns of the members of the association’s stated clearly that the increase in MPR has widened the journey farther away from the preferred single digit interest rate regime. Ajayi-Kadir said: “It is not manufacturing friendly considering the myriad of binding constraints already limiting the performance of the sector. MAN is therefore concerned about the ripple effects of this decision and

its implications for the manufacturing sector that is visibly struggling to survive the numerous strangulating fiscal and monetary policy measures and reforms.” He suggested that the stringent conditionalities for accessing available development funding windows with the CBN would be relaxed to improve the flow of long-term loans to the manufacturing sector at single digit interest rate. He advised that future adjustments of MPR takes into consideration the trend of core inflation rather than basing decision on headline and food inflation. This will no doubt shield the sector of the backlashes from the 13.5 per cent MPR, ramp up production and guarantee sustained growth in the overall best interest of the economy.

IMPLICATIONS The director general of MAN also argued that the current decision would have a telling effect on both the economy and the manufacturing sector. It pointed out that this would spur upward review of existing lending rates dependent obligations of manufacturing concerns, which would drive costs northward. It would also intensify demand crunch emanating from the heavily eroded disposable income of Nigerians, constrained access of households and individuals to cheap funds and lead to rising cost of manufacturing inputs, which will naturally translate to higher prices of goods, low sales and enormous volume of inventory of unsold products. Moreover, it would exacerbate the intensity of idle capital assets, worsen the already declining profit margin of private businesses and heighten the mortality rate of small businesses. He said that it would “further reduce capacity utilization, upscale the rate of unemployment, incidences of crime and insecurity as the capacity of banks to support production and economic growth is heavily constrained “Reduce the pace of full recovery of the real sector, make manufacturing performance to remain lackluster and of course lead to leaner contribution to the GDP.”

LCCI’S POSITION Similarly, the Lagos Chamber of Commerce and Industry (LCCI) in its reaction stated that the hike in the interest rates would normally “mean less credit to

the private sector and that can translate to reduced investment and constrained production in the economy, at least in the short term.” The Director General of the LCCI, Dr. Chinyere Almona, said that “this action also has implications for economic growth, job creation, and revenue generation for the government. “When the MPR was 11.5 per cent some credit lenders charged as high as 25 per cent maximum rate to small companies. With the benchmark interest rate at 13 per cent, we may likely have rates climb beyond 30 per cent for SMEs. “While we agree with the proposition that a lower interest rate in Nigeria compared with higher rates in developed economies would lead to capital flight, we must restate our recommendation that interest rate hikes will not on their curb inflationary pressures. The supply-side challenges like insecurity, forex scarcity, and uncertainties from the inconsistent policy environment must be tackled to curb the rising inflation. This is the more sustainable solution to the rising inflation in Nigeria.” “In the coming months and into the third quarter, the CBN should expand its targeted intervention schemes to support the productive sectors of the economy to reduce the cost of production. Beyond the role of price stability, the CBN must pay attention to sustaining economic growth that can create jobs and boost government revenues. Again, we reiterate that hikes in rates alone will not tackle the neargalloping inflation trend in Nigeria. We need interventions to boost the supply of goods and services, build critical supportive infrastructure, and resolve the illiquidity crisis in the forex market.”

CPPE APPLAUDS CBN However, the Centre for the Promotion of Public Enterprise (CPPE) has said that the hike in MPR understandable in order to curb inflation but doubted whether it would have expected impact on the inflation. The Chief Executive Officer of CPPE, Dr. Muda Yusuf, noted that already, bank lending has been constrained by the high Cash Reserve Ration (CRR) as many operators in the sector claimed that effective CRR is as high as 50 per cent or more for many banks. Moreover, the discretionary debits by the apex bank, the 65 per cent Loan to Deposit Ratio (LDR)

and liquidity ratio of 30 per cent. Lending situation in the economy is already very tight. Yusuf said that the Nigerian economy is not a credit driven economy, unlike what obtained in many advanced economies which have much higher levels of financial inclusion, robust consumer credit framework and strong correlation between interest rate and aggregate demand. He, however, said: “The level of financial inclusion in the Nigerian economy is still quite low, access to credit by households and MSMEs is still very challenging, and the informal sector accounts for close to 50 per cent of the economy. “The transmission effects of monetary policy on the economy are therefore still very weak. In the Nigerian context, price levels are not interest sensitive. Supply side issues are much more profound drivers of inflation. “What the recent rate hike means for the economy is that the cost of credit to the few beneficiaries of the bank credits will increase which will impact their operating costs, prices of their products and profit margins. Investors in the fixed income instruments may also benefit from the hike. There would be some adverse effects on the equities market.”

CBN SUPPORT FACILITY Perhaps the CBN was mindful of the concerns being expressed by manufacturers and operators of the private sector. Emefiele said that to support the growth of the manufacturing sector, the bank disbursed the sum of N436.85 billion to 34 new projects under the N1.0 trillion Real Sector Support Facility (RSSF). This was utilised for both greenfield (new) and brownfield (expansion) projects under the COVID-19 Intervention for the Manufacturing Sector (CIMS) and the Real Sector Support Facility from Differentiated Cash Reserve Requirement (RSSF-DCRR). Cumulative disbursement under the RSSF for the financing of 402 real sector projects across the country, whichcurrently stands at N2.10 trillion. The CBN also “disbursed N55.34 billion, under the 100 for 100 Policy on Production and Productivity (100 for100 PPP), to 44 projects, comprising 24 in manufacturing, 17 in agriculture, 2 in healthcare, and 1 in the services sector. In the domestic economy, data on key macroeconomic variables indicate that the recovery of output growth will continue, probably at a more subdued pace, considering the unfolding domestic and external shocks to the economy.”

TUESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

Tuesday, May 31, 2022

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ &Ğůů Ϭ͘ϯй dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϰďƉƐ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ Ϭ͘ϯй ƚŽ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ ϭϰďƉƐ ƚŽ ƐĞƩůĞ

THISDAY AFRINVEST 40 INDEX

Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ Ϯ͕ϱϮϳ͘ϰϱ ŝŶĚĞǆ ƉŽŝŶƚƐ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ DdEE ;Ͳϯ͘ϬйͿ͕ t W K ;Ͳϭ͘ϲйͿ͕ ĂŶĚ ^d E / ;Ͳϭ͘ϰйͿ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘ ƵŵƵůĂƟǀĞůǇ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϭϭ͘ϴй ŽĨ ƚŚĞ

Current Price

Ticker

ŝŶĚĞǆ͘ ^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

dŚĞ ĞĂƌƐ ŽŵŝŶĂƚĞ͘͘͘ ^/ ĚŝƉƐ Ϭ͘ϲй WƌĞǀŝŽƵƐ

ĚĂǇ͕

ƉƌŝĐĞ

ƵƉƟĐŬ

ŝŶ

THISDAY AFRINVEST 40

,KEz&>KhZ

zĞƐƚĞƌĚĂǇ͕ ƚŚĞ E'yͲ ^/ ĨĞůů Ϭ͘ϲй ƚŽ ϱϯ͕ϳϳϮ͘ϭϰ ƉŽŝŶƚƐ ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ

ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ DdEE ;Ͳϯ͘ϬйͿ͕ WZ ^ K ;Ͳ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ

2527.45

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

ϭϬ͘ϬйͿ͕ zd ƌĞͲ ^ŚĂƌĞ ĂŶĚ t W K ŝŶĚĞǆ ;Ͳϭ͘ϲйͿ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ ƌŽƐĞ ďǇ

-0.33%

ROE

ROA

P/E

36.3% 152.7%

1,767.00

0.0%

230.00

-3.0%

74.25

0.0%

22.90

-0.4%

4.6%

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC 5 Zenith Bank PLC 6 Dangote Cement PLC 7 Nestle Nigeria PLC

Price Previous Price Current Change Price Change Weighting Index to Change YTD Date 45.0%

5.3x

Dividend Earnings Yield Yield

P/BV

0.8x

6.1%

17.4%

85.0%

18.2%

6.2%

1.2%

7.6%

16.8%

105.6%

13.9%

14.5x

17.9x

5.7%

6.0%

10.7%

19.1%

11.2%

35.7x

6.7x

3.8%

2.8%

-11.9%

19.8%

3.2%

3.8x

0.8x

13.1%

26.5% 33.3%

6.9%

23.85

-0.2%

4.5%

-5.2%

20.6%

2.6%

3.0x

0.6x

13.0%

297.00

0.0%

4.0%

15.6%

37.7%

16.4%

13.4x

4.9x

6.9%

7.4%

1,400.00

1.8%

2.5%

-10.1%

112.8%

16.1%

24.3x

28.3x

3.6%

4.1%

ƚƵƌŶ ƚŽ ƉŽŝŶƚƐ͘ Ϯϱ͘ϵй ŽŶƐĞƋƵĞŶƚůǇ͕ ;ƉƌĞǀŝŽƵƐůǇ Ϯϲ͘ϲйͿ ǁŚŝůĞ ϭϭďƉƐ ŵŽĚĞƌĂƚĞĚ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ zd ůŽƐƐ ŝŵͲ

8 FBN Holdings Plc 9 Lafarge Africa PLC

11.85

3.0%

2.8%

3.9%

20.1%

1.9%

2.6x

0.5x

3.1%

39.1%

27.70

-1.6%

3.0%

15.7%

15.5%

11.1%

7.5x

1.1x

7.2%

13.3%

ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ĚŝƉƉĞĚ ŵĂƌŬĞƚ ʬϭϲϴ͘ϴďŶ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƚŽ ʬϮϵ͘ϬƚŶ͘

10 Access Holdings PLC 11 United Bank for Africa PLC

10.00

1.5%

2.3%

7.5%

17.9%

1.6%

2.2x

0.3x

7.0%

45.8%

7.90

-0.6%

1.7%

-1.9%

15.6%

1.4%

2.3x

0.3x

12.7%

44.1%

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ sŽůƵŵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϵ͘ϰй ƚŽ ϮϮϳ͘ϱŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

12 Stanbic IBTC Holdings PLC 13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC

ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ϰϱ͘ϳй ƚŽ ʬϯ͘ϬďŶ͘ ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ ƵůůŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘

ŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ ǁŚŝůĞ Ϯ ŐĂŝŶĞĚ͘ dŚĞ &ZͲ/ d ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ůĞĚ ůĂŐŐĂƌĚƐ͕ ĚŽǁŶ ϭ͘Ϯй ĂŶĚ Ϭ͘ϯй ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ DdEE ;Ͳ

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŝŶŐ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĨĞůů ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ Ϭ͘ϭй ĂƉŝĞĐĞ ĚƵĞ ƚŽ ƐĞůůͲŽīƐ ŝŶ t W K ;Ͳϭ͘ϲйͿ ĂŶĚ Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ƚŚĞ ĚŽǁŶ ϰ͘ϲй ĂŶĚ ,KEz&>KhZ ;Ͳϲ͘ϯйͿ͘ ŽŶǀĞƌƐĞůǇ͕ /ŶƐƵƌĂŶĐĞ ĂŶĚ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ

Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϳй ĂŶĚ Ϭ͘ϭй ƌĞƐƉĞĐƟǀĞůǇ ĨŽůͲ >/E< ^^hZ

;Ͳϲ͘ϰйͿ͕

8.8%

13.9%

3.0x

2.6%

3.4%

1,300.00

0.0%

2.5%

100.0%

7.5%

3.6%

13.4x

1.0x

3.2%

7.5%

11.90

-0.4%

1.5%

36.8%

18.4%

1.0%

2.5x

0.4x

5.5%

39.2%

KƵƚůŽŽŬ

0.0%

1.4%

59.6%

-9.9%

-3.4%

0.0%

1.3%

51.4%

43.6%

25.5%

11.2x

4.7x

35.70

0.0%

1.0%

25.9%

15.9%

4.5%

5.5x

0.8x

1.5x

-6.8% 4.0%

3.30

-2.9%

0.6%

29.4%

13.3%

1.2%

2.5x

0.3x

10.6%

2.12

4.4%

0.4%

-8.6%

2.9%

0.9%

20.2x

0.6x

11.8%

4.9%

17.00

0.0%

0.4%

-2.3%

16.7%

6.6%

9.1x

1.5x

5.9%

11.0%

3.50

0.0%

0.4%

17.1%

10.7%

1.1%

13.45

5.1%

0.4%

35.9%

87.10

0.0%

0.6%

123.3%

1.22

-6.2%

0.3%

27.1%

17.8%

8.1%

13.0x

0.3x

5.7%

3.4x

11.2%

2.1x

0.5%

0.5x

1.6%

84.5%

7.6x

3.8x

4.1%

13.2%

-2.7%

18.5%

5.7%

12.9x

2.3x

3.1%

7.7%

0.69

-1.4%

0.2%

-1.4%

21.1%

3.6%

28.0x

0.6x

2.9%

3.6%

29 TotalEnergies Marketing Nigeri 30 Custodian and Allied Insurance

234.50

0.0%

0.2%

5.7%

1.7x

8.1%

7.00

0.0%

0.2%

-11.4%

19.5%

5.5%

4.1x

0.8x

7.1%

24.3%

31 Vitafoam Nigeria PLC 32 Unilever Nigeria PLC

22.55

0.0%

0.2%

50.3%

19.0%

4.2x

2.1x

6.7%

23.9%

14.95

0.0%

0.1%

3.1%

8.8%

5.4%

29.2x

1.3x

3.3%

3.4%

33 Julius Berger Nigeria PLC 34 Union Bank of Nigeria PLC

26.25

-0.6%

0.2%

17.4%

18.1%

2.3%

5.8x

0.8x

10.0%

17.2%

6.25

0.0%

0.1%

5.9%

6.1%

0.7%

9.8x

0.7x

10.2%

5.70

0.5%

0.1%

29.0%

14.5%

2.6%

2.5x

0.3x

40.7%

3.40

-6.8%

0.0%

372.2%

15.6%

0.9%

12.6x

1.8x

7.1%

7.9%

3.82

0.0%

0.1%

-15.1%

22.3%

12.9%

3.9x

0.8x

5.8%

25.3%

1.9x

0.3x

6.6%

53.3%

1.51

0.7%

0.1%

0.0%

9.9%

0.9%

62.50

0.0%

0.1%

0.0%

-17.7%

-4.1%

5.85

0.0%

8.7%

-9.5%

0.9x

1.2%

T o p 10 T r a d e s b y V o l u m e

T o p 10 G a in e r s T ic k er

Vo lum e

P ric e C hg %

0.78

9.9%

T R A N SC OR P

70.1

NP FM CRFB K

1.80

9.8%

A C C ESSC OR P

21.2

1.5%

UA C N

11.50

9.5%

J A IZ B A N K

16.3

9.0%

J A IZ B A N K

0.85

9.0%

ST ER LN B A N K

10.5

0.7%

ŵĂŶĐĞ ƐƚĞŵŵŝŶŐ ĨƌŽŵ ƚŚĞ ŐƌĂĚƵĂů ŝŵƉƌŽǀĞŵĞŶƚ ŝŶ

LIVEST OC K

1.60

6.7%

R OYA LEX

10.2

6.1%

R OYA LEX

1.04

6.1%

FB NH

8.0

3.0%

ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ͘

UC A P

-0.4%

ƐĞƐƐŝŽŶ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ Ă ƌĞďŽƵŶĚ ŝŶ ŵĂƌŬĞƚ ƉĞƌĨŽƌͲ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲǆ ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ

ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

T ic k er

1.8x

P ric e

ŐĂŝŶĞĚ͕ ϭϳ ůŽƐƚ ǁŚŝůĞ ϲϲ ĐůŽƐĞĚ ŇĂƚ͘ /Ŷ ƚŽĚĂǇ͛Ɛ ƚƌĂĚŝŶŐ

ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ

^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůǇ ǁŝŶĚƐ ƵƉ͘

13.45

5.1%

GT C O

6.2

0.21

5.0%

F ID ELIT YB K

6.0

-2.9%

N IGER IN S

0.21

5.0%

H ON YF LOUR

5.6

-6.3%

CHA M S

0.23

4.5%

FCM B

5.6

0.0%

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s T ic k er P R ESC O

P ric e 162.00

P ric e C hg % -10.0%

T ic k er

Value

P ric e C hg %

N EST LE

821.9

1.8%

526.5

-3.0%

UP L

2.60

-8.8%

M TNN

F T N C OC OA

0.32

-8.6%

A C C ESSC OR P

212.4

1.5%

M A YB A KER

4.01

-7.6%

GT C O

142.3

-0.4%

WEM A B A N K

3.40

-6.8%

OKOM UOIL

123.1

0.0%

H ON YF LOUR

3.28

-6.3%

Z EN IT H B A N K

106.9

-0.2%

T R A N SC OR P M TNN F ID ELIT YB K WA P C O

Afrinvest West Africa Limited

-6.2%

M ULT IVER SE

< Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ

7.7%

0.2%

T R A N SEXP R

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

39.9%

0.4%

ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ

ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ Ϭ͘ϭϮǆ ĨƌŽŵ ͲϬ͘Ϭϭǆ ĂƐ Ϯϱ ƐƚŽĐŬƐ

8.9% 18.3%

0.0%

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ĂƉƉƌĞĐŝĂͲ

7.90 215.00

-10.0%

ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

ƉƌŝĐĞ

1.1x

29.8x

12.85

39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ

ďǇ

7.2x

3.9%

162.00

;нϬ͘ϱйͿ͘

ĚƌŝǀĞŶ

2.1%

10.5%

27 NASCON Allied Industries PLC 28 AIICO Insurance PLC

37 NEM Insurance PLC 38 Sterling Bank PLC

ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

ϭ͘ϴй

15.6%

38.6%

22 FCMB Group Plc 23 United Capital PLC 24 Guinness Nigeria PLC

ůŽǁŝŶŐ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ D E^ Z ;нϰ͘ϰйͿ ĂŶĚ K E K

ƵƉ

-5.6%

38.6%

19 Fidelity Bank PLC 20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC

35 Oando PLC 36 Wema Bank PLC

Ğƌ͕

-5.6%

1.8%

25 Transnational Corp of Nigeria 26 Presco PLC

ϯ͘ϬйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ t D E< ;Ͳϲ͘ϵйͿ͘ dƌĂŝůͲ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

;Ͳϯ͘ϱйͿ͕

1.2%

0.0%

17 Okomu Oil Palm PLC 18 Flour Mills of Nigeria PLC

ƵŶŝƚƐͿ͕ ĂŶĚ ;ϳ͘ϯŵ ƵŶŝƚƐͿ ƉĞƌĨŽƌŵĂŶĐĞ ǁŚŝůĞ E ^d> ǁĂƐ ;േϮ͘ϮďŶͿ͕ ĐƌŽƐƐ ŽƵƌ K E K ĐŽǀĞƌĂŐĞ ƐĞĐƚŽƌƐ͕ ďĞĂƌͲ

hE/> s Z

-1.4%

15 Ecobank Transnational Inc 16 International Brew eries PLC

ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ

ϵ͘ϭйͿ͕

34.00 69.30

1.22

-6.2%

FB NH

91.8

3.0%

230.00

-3.0%

T R A N SC OR P

85.1

-6.2%

3.30

-2.9%

A IR T ELA F R I

83.0

0.0%

27.70

-1.6%

P R ESC O

74.9

-10.0%

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

T H I S D AY ˾ ˜ MAY 31, 2022

BUSINESS/MONEYGUIDE

CBN: ABP, Other Interventions Will Boost RT200 Policy Nume Ekeghe The Director of Banking Supervision Department, Central Bank of Nigeria (CBN), Mr. Mustapha Haruna has stated that economic interventions by the CBN such as anchors borrowers’ program, Real Sector Support Facility Discretionary Cash Reserve Ratio (RSSF- DCRR), amongst others willboast its RT200 policy. Also, the Director, Trade and Exchange Department, Ms. Ozoemena Nnaji alluded that some companies who had gotten intervention to grow their businesses are now enabling Nigeria increase its non-oil export earnings. They said this over the weekend at CBN’s on-site monitoring and evaluation of Pinnacle Oil and Gas FZE, The Candel Company, Sana Building Systems (SBS) all in Lagos free zone. Speaking on the sidelines after the assessment tours of the Candel company, Haruna said: “There is a clear validation of the strategic

wisdom behind the various interventions of the Central Bank of Nigeria particularly to support the real sector. Candle stands at two critical junctures. One is the manufacturing outfit, as you recall recently, the central bank introduced the RTX 200 policy designed to boost the non-oil sector and what Candel is doing here is quite complementary to that policy.” On her part, Nnaji after the assessment tour of SBS, said: “SBS is actually exporting some of their products here to our neighboring countries, and that will earn us some foreign exchange. we hope also that can benefit from it RT200 export more, so that I can get the benefit of the rebate. “Also, the multiplier effect of the company is huge, because we have people building this product to neighboring countries of Cameroon and Ghana where they have done business, and also have companies here that is utilising their materials and their product.”

On his part, speaking during a visit to Candel Company Limited, Head, Legal Services Department of CBN, Mr Kofo Salam-Alada, called on banks to support Nigerian companies to grow production in the country. “With what the company is doing I believe that bankers should actually start coming for them; it’s not just the Central Bank’s Intervention Funds, Nigerian banks should actually seek them to see how they can partner with them to drive it forward,” he said. President SBS, Mr. Ken Krieger praised the inventions of CBN in the reals sector and his company. He said: “This factory is the result of the funding that we’ve received and without that support, honestly, we could not have made it happen. So, we’re very grateful that the CBN is diligent in building the economy. We are now exporting into Cameroon, currently, we have projects quoted for Ghana and the Ivory Coast also.”

L-R: CEO, Sterling One Foundation, Olapeju Ibekwe; Team Lead, Wholeeats, Kemi Jeje; CEO, Marvel Natural Products, Temitope Akinyemi and Representative of Lasuth Director, Mrs Omolara Sholaja, during the Community Pot pilot launch by Wholeeats in Lagos on Friday

MARKET INDICATORS MONEY AND CREDIT STATISTICS

UnskilledYoung Population Bane of Nigeria’s Unemployment Crisis Oluchi Chibuzor As the future of work continues to go digital and the Nigerian youth unemployment rate remains at 53.40 percent, unskilled technological young demographic population has been identified as bane to the rising unemployed people in the country. In view of this, the need for the country to train its youthful workforce on emerging skills that will be ready to attract foreign investment remains a remedy to unemployment challenges facing the country. To this end, the Senator Abiru Innovation Lab (SAIL), a digital innovation pilot programme has entered into partnership with CoCreation Hub in an effort that is aimed to transform Ikorodu a community in Lagos state to a software engineering valley in the country. The partnership which is coming at the time the country is witnessing massive talent drain in the digital space, is geared towards providing a solid foundation for youths to

get dignified jobs, build businesses that will scale to employ hundreds of unemployed people and develop solutions that will solve the myriad of challenges facing the country. Speaking at an interactive session with the maiden group of SAIL programme who are on six month incubation training on software engineering, the Chairman, Senate Committee on Industries, Senator Adetokunbo Abiru, said he resisted the temptation of replicating ICT centers that abound all around without really addressing the dearth in digital and technology skills. He stressed that in line with the future of work in the fourth industrial revolution personally scouted for the best institution with proven track records in training and placements of tech talents for the programme. For the co-founder, Co-Creation Hub, Olatunbosun Tijani, the world is waiting for a software engineer who can deliver and meet employers’ job requirements. He opined that it remains the best avenue to lift many out of

unemployment as the country can leverage the future of work to attract huge inflows into the country. Tijani, noted that those, who are not digitally inclined would be disadvantaged seeking jobs in the new era of digital innovation. He however challenged the female participants to ensure they are more successful in their journey as a software engineer in order to counter people’s opinion that engineering is not for women. “The world is going digital and with the skills you have acquired in this hub, if you dig deeper into yourself through learning more without doubt all of you will not regret joining this training. From my experience in tech, it is not productive alone when we do not have more women in tech as they play a critical role in the digital economy. “I want to challenge all the seven women that what you are doing here is not for yourselves it goes beyond but to inspire many other women that believe they can be part of engineering, “he added.

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

Month

March 2018 15.16

African Guarantee Fund Set to Empower 80 Young Entrepreneurs

Minimum Rediscount Rate (MRR)

Nume Ekeghe

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

The African Guarantee Fund for Small and Medium-sized Enterprises (AGF), with the support of the African Development Bank’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, launched a training and mentorship program for youthled start-ups and micro, small and medium-sized enterprises in Nigeria. The African Guarantee Fund is implementing the year-long training and mentorship series expected to provide capacitybuilding support and coaching to 80 youth entrepreneurs across the country. According to Nigeria’s Ministry of Trade and Investment, more than 37 million micro, small and medium enterprisesaccount for more than 84 percent of jobs in the country. Micro, small and medium enterprises also account for about 48.5 percent of the gross domestic product and

more likely to secure financing. The consulting firm also aims to link youth-led startup leaders to local financial institutions and private equity funds. “Our team is committed to supporting the Youth Entrepreneurship and Innovation initiative. This program is in tandem with the values of FRAGG, which is entrenched in the triple bottom approach of people, profit, and the planet,” FRAGG Managing Director Franklin Odoemenam said. “We are pledging our organisations’ support in equipping Nigerian youth entrepreneurs with training that will position their businesses to be investor-ready, in order to access financing.” The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund Youth-led Micro, Small, and Medium Enterprises, Training and Mentorship Program is rolling out programs in Ghana, Mali, Togo, and Zimbabwe in 2022.

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Inter-Bank Call Rate

about 7.27 percent of goods and services exported. Program organizers said the training and mentorship program will boost this group’s contribution to Nigeria’s overall economic growth and development. AGF Deputy Group CEO, Constant N’zi said: “Youths who comprise over 50 percent of the Nigerian population have a critical role to play in the development of the country. The objective of AGF’s partnership with FRAGG is to build the capacity of youth entrepreneurs so that they are equipped to access financing for their sustainable growth.” Fragg Investment Management Limited, the program’s coordinating partner for Nigeria, will match program participants with business coaches and mentors, as well as teach them the technical skills needed to submit bankable business proposals – plans

(MILLION NAIRA)

JANUARY 2021

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ͱͮ˜ ͰͮͰͰ

The price of OPEC basket of thirteen crudes stood at $118.84 a barrel on Friday, compared with $116.50 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ˜ ͱͯ˜ ͰͮͰͰ

Honeywell Flour Mills Announces N983.8m Loss in 2022 Kayode Tokede With growing cost of sales, Honeywell Flour mills in its financial year for the period ended March 31, 2022 has announced N983.8million loss, representing a 188per cent decline from N1.13billion profit reported in the full year ended March 31, 2021. The Flour processing company on the Nigerian Exchange

Limited (NGX) yesterday in its profit & loss figures also announced N172.14million loss before tax in 2022 from N1.58billion profit before tax reported in 2021. The losses reported by Honeywell Flour mills can be attributable to 32.9per cent hike in cost of sales to N124.86billion in 2022 from N93.97billion in 2021. The audited results revealed

P R I C E S MAIN BOARD

F O R DEALS

a 34.8per cent increase in Honeywell Flour mills’s raw and packaging materials consumed to N111.44billion in 2022 compared with N82.66billion in 2021 and it contributed 89.3per cent of the overall cost of sales in the year under review. Cost of sales witnessed an increase at Honeywell Flour Mills three operational factories in Apapa, Ikeja and Sagamu.

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

QUANTITY TRADED

VALUE TRADED ( N )

Cost of sales in Apapa factory rose by 36.3 per cent to N99.56billion in 2022 from N73.02billion in 2021, while Ikeja factory witnessed a significant increase of about 49 per cent in its cost of sales to N6.99billion in 2022 from N4.7billion in 2021. In addition, the company factory in Sagamu reported a 14.6 per cent increase in cost of sales to N18.3billion in 2022

T R A D E D MAIN BOARD

A S

from N15.98billion in 2021. However, the company closed the 2022 financial year with N136.43billion revenue, 24 per cent increase from N109.59billion in 2021, driven by revenue generated from the company’s factory in Apapa. Revenue generated at the company’s Apapa operational factory rose by 28 per cent to N108.8billion in 2022 from N85.02billion in 2021.

O F

The Ikeja segment manufactures paste/noodles and the Sagamu segment manufactures Paste, while Apapa segment manufactures Flour, Semo, Wheat mean, Brown flour and Baker’s delight flour. On the backdrop of increase in cost of sales, the company’s gross profit dropped by 25.9 per cent to N11.57billion in 2022 FY from N15.62billion in 2021 FY.

3 0 / 0 5 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

TUESDAY MAY 31, 2022 • T H I S D AY

TUESDAY, MAY 31, 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 27May-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 8.35% AIICO Balanced Fund 3.77 3.84 6.58% 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 3.97% Anchoria Equity Fund 153.06 154.81 10.05% Anchoria Fixed Income Fund 1.19 1.19 4.32% 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 22.68 23.37 11.83% ARM Discovery Balanced Fund 521.90 537.64 15.68% ARM Ethical Fund 43.82 45.14 12.49% ARM Eurobond Fund ($) 1.06 1.06 -1.87% ARM Fixed Income Fund 1.04 1.04 2.55% ARM Money Market Fund 1.00 1.00 6.14% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.42 105.42 8.29% AVA GAM Fixed Income Dollar Naira 1,109.24 1,109.24 10.92% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.12 2.12 7.74% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.41 2.47 26.98% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 3.35% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.01% Paramount Equity Fund 20.67 21.04 18.49% Women's Investment Fund 156.23 158.13 10.01% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.25% Cordros Milestone Fund 136.84 137.68 9.67% Cordros Dollar Fund ($) 109.54 109.54 5.04% 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 4.41% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 5.68% EDC Nigeria Fixed Income Fund 1,156.46 1,168.27 -0.75% 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 7.85% Emerging Africa Bond Fund 1.04 1.04 7.87% Emerging Africa Balanced Diversity Fund 1.08 1.08 18.36% Emerging Africa Eurobond Fund 102.43 102.43 4.36% 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 1456.24 1456.24 10.42% FBN Balanced Fund 196.60 197.99 12.18% FBN Halal Fund 119.93 119.93 9.21% FBN Money Market Fund 100.00 100.00 5.80% FBN Dollar Fund (Retail) 123.91 123.91 5.28% FBN Nigeria Smart Beta Equity Fund 170.19 172.44 11.71% 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

4,261.74 3,555.64 100.00

4,326.91 3,555.64 100.00

23.74% 6.25% 6.10%

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 4.21% Vantage Balanced Fund 3.10 3.15 15.19% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 140.41 140.41 2.46% Vantage Equity Income Fund (VEIF) - June Year End 1.36 1.39 13.60% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 4.10% 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 1.56 1.59 10.22% Lotus Halal Fixed Income Fund 1,159.66 1,159.66 3.48% 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 13.00 13.05 18.51% Meristem Money Market Fund 10.00 10.00 8.01% 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) 101.81 101.81 7.42% Norrenberger Money Market Fund (NMMF) 100.00 100.00 7.43% 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 N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A 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 132.72 136.06 10.55% 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 3,774.27 3,818.01 9.65% Stanbic IBTC Bond Fund 238.82 238.82 1.31% Stanbic IBTC Ethical Fund 1.52 1.54 17.69% Stanbic IBTC Guaranteed Investment Fund 320.25 320.25 2.21% Stanbic IBTC Iman Fund 279.77 283.69 15.51% Stanbic IBTC Money Market Fund 1.00 1.00 3.67% Stanbic IBTC Nigerian Equity Fund 12,765.39 12,944.24 14.91% Stanbic IBTC Dollar Fund (USD) 1.32 1.32 1.96% Stanbic IBTC Shariah Fixed Income Fund 118.47 118.47 1.28% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 109.45 109.45 2.79% 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 1.11 1.13 19.06% United Capital Balanced Fund 1.54 1.57 13.17% United Capital Wealth for Women Fund 1.24 1.26 14.38% United Capital Sukuk Fund 1.11 1.11 2.96% United Capital Fixed Income Fund 2.01 2.01 2.66% United Capital Eurobond Fund 125.00 125.00 2.18% United Capital Money Market Fund 1.00 1.00 5.61% 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 7.99% Zenith ESG Impact Fund 16.47 16.66 12.76% Zenith Income Fund 22.58 22.58 2.52% Zenith Money Market Fund 1.00 1.00 5.66% 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 5.22% 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

116.40 51.67

2.86% 1.61%

Bid Price

Offer Price

Yield / T-Rtn

16.09 150.31 118.71 17.20 16.50

16.19 153.98 121.30 17.20 16.50

14.95% 14.17% 14.55% 29.14% 13.96%

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.

TUESDAY, MAY 31, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Over 100 Gold Miners Killed in Chad Clashes last week between gold miners in the country’s north left more than 100 people dead, the Chadian government said. The clashes took place May 23 and 24 in the Kouri Bougoudi district, near the border with Libya. The area is home to many unregulated mines where people search for gold. According to a government fact-finding mission, Chad’s minister of defence said Monday that more than 100 people were killed and 40 others injured in the fighting. Minister Daoud Yaya Brahim said the fighting broke out at night in the mining sites but did not identify the cause of the violence. Chad’s communication minister said last week that the clashes were between Arabs who crossed the border from Libya and the Tama community who hail from eastern Chad. Chadian authorities have suspended informal mining operations in Kouri Bougoudi and evacuated people from the area. Chad is involved in a fight against terrorism and rebel groups who threaten to topple the interim government led by the son of late president Idriss Deby. However, there was no indication that terrorist or criminal groups played a role in the mining violence. 21 Bodies Recovered in Nepal Plane Crash Rescuers searching a mountainside in Nepal on Monday recovered the bodies of 21 of the 22 people who were on board a plane that crashed a day earlier, officials said. The search is continuing for the remaining person, Kathmandu airport spokesman Tek Nath Sitaula said. Recovery efforts were delayed because some bodies were pinned under the plane’s wreckage. Rescuers working with their bare hands had difficulty moving the metal debris. Aerial photos of the crash site showed aircraft parts scattered on rocks and moss on the side of a mountain gorge. The Tara Air turboprop Twin Otter lost contact with the airport tower on Sunday while flying on a scheduled 20-minute flight in an area of deep river gorges and mountaintops. Relatives waited most of the day at the airport for news of their loved ones. Four Indians and two Germans were on the plane, Tara Air said. The three crew members and other passengers were Nepali nationals, it said. German news agency dpa reported that the two Germans were a man and a woman from the western state of Hesse. Local news reports said the passengers included two Nepali families, one with four members and the other with seven. The army said the plane crashed in Sanosware in Mustang district, close to the mountain town of Jomsom, where it was heading after taking off from the resort town of Pokhara, 200 kilometres (125 miles) west of Kathmandu. According to tracking data from flightradar24. com, the 43-year-old aircraft took off from Pokhara at 9:55 a.m. and transmitted its last signal at 10:07 a.m. at an altitude of 3,900 meters (12,825 feet). Taiwan Jets Scramble as China Air Force Enters Air Defence Zone Taiwan on Monday reported the largest incursion since January by China’s air force in its air defence zone, with the island’s defence ministry saying Taiwanese fighters scrambled to warn away 30 aircraft in the latest uptick in tensions. Taiwan, which China claims as its own territory, has complained for the past two years or so of repeated missions by China’s air force near the democratically governed island. The jets often fly in the southwestern part of Taiwan’s air defence identification zone, or ADIZ, close to the Taipei-controlled Pratas Islands. Taiwan calls China’s repeated nearby military

activities “grey zone” warfare, designed to both wear out Taiwan’s forces by making them repeatedly scramble and also to test Taiwan’s responses. The latest Chinese mission included 22 fighters, as well as electronic warfare, early warning and antisubmarine aircraft, the Taiwan ministry said. The aircraft flew in an area to the northeast of the Pratas, according to a map the ministry provided, though far from Taiwan itself. Taiwan sent combat aircraft to warn away the Chinese aircraft, while missile systems were deployed to monitor them, the ministry said. It was the largest incursion since Taiwan reported 39 Chinese aircraft in its ADIZ on Jan. 23. There was no immediate comment from China, which has in the past said such moves were drills aimed at protecting the country’s sovereignty. China’s military said last week it had recently conducted an exercise around Taiwan as a “solemn warning” against its “collusion” with the United States. Fierce Fighting Erupts on Streets of Sievierodonetsk in Eastern Ukraine Fierce fighting has erupted on the streets of the eastern Ukraine city of Sievierodonetsk, with Kyiv’s forces trying desperately to fight off the Russian onslaught. Ukrainian President Volodymyr Zelenskyy characterized the situation as “indescribably difficult.” In a televised speech, he described capturing Sievierodonetsk as “a fundamental task for the occupiers” and said Ukraine was doing all it could to protect the city from a Russian takeover. Russian troops have entered the city, power and communications have been knocked out and “the city has been completely ruined,” Sievierodonetsk Mayor Oleksandr Striuk told The Associated Press in a phone interview. “The number of victims is rising every hour, but we are unable to count the dead and the wounded amid the street fighting,” the mayor said. Striuk said 12,000 to 13,000 civilians remain in the city that once had 100,000 residents. They are sheltering in basements and bunkers to escape the Russian assault. Striuk estimated 1,500 civilians in the city have died since the war began, from Russian attacks as well as from a lack of medicine or treatment. Sievierodonetsk, the last major Ukrainianheld population centre in the eastern Luhansk province, has become the focus of Russian attacks as Moscow attempts to control the Donbas region after failing to topple Zelenskyy or capture the capital, Kyiv, during more than three months of fighting. Sievierodonetsk is about 140 kilometres from the Russian border.

Luhansk Governor Serhiy Haidai said Russian troops “use the same tactics over and over again. They shell for several hours — for three, four, five hours in a row — and then attack. Those who attack die. Then shelling and attack follow again, and so on until they break through somewhere.” Zelensky Seeks More Help from Europe “Ukrainian President Volodymyr Zelensky is set to address the European Council Monday as he pushes for more help for Ukraine and more pressure on Russia to end its invasion. European Council President Charles Michel said in a letter ahead of a two-day session that Ukraine is “showing incredible courage and dignity in the face of the Russian aggression and atrocities.” “One of our most pressing concerns is assisting the Ukrainian state, along with our international partners, with its liquidity needs,” Michel said. “We will also discuss how best to organize our support for Ukraine’s reconstruction, as a major global effort will be required to rebuild the country.” Michel said the meetings would include addressing high energy prices linked to the conflict and a need to “accelerate our energy transition” to phase out European dependence on Russian fossil fuels, as well as discuss ways to deal with food security and price issues hikes. In eastern Ukraine, Luhansk governor Serhiy Haidai said Monday fighting was intense in Sievierodonetsk, the last Ukrainiancontrolled city in the region, with Russian forces reaching the city’s outskirts. Zelensky said in a video address late Sunday that seizing the city “is a fundamental task for the occupiers” and that Ukraine will do all it can “to hold this advance.” He said Russian attacks had damaged 90 per cent of the buildings in Sievierodonetsk, knocking out telecommunication and destroying more than two-thirds of the city’s housing. Russian Foreign Minister Sergey Lavrov told French TF1 television Sunday that Russia’s “unconditional priority is the liberation of the Donetsk and Luhansk regions.” He said Russia views the areas as “independent states.”. Popular Indian Rapper Sidhu Moose Wala Shot Dead at 28 Indian police are investigating the murder of a popular Punjabi rapper who blended hip-hop, rap and folk music a day after he was fatally shot, officials said Monday. Shubhdeep Singh Sidhu, also known worldwide by his stage name Sidhu Moose Wala, was killed Sunday evening while driving his car in Mansa, a district in northern India’s Punjab state. Moose Wala, 28, was rushed to the hospital, where he was declared dead.

Punjab state’s top police official VK Bhawra said the initial investigation revealed the killing was an inter-gang rivalry. A day before the attack, the Punjab government had pulled security cover for over 400 individuals, including Moose Wala, to clamp down on VIP culture, local media reports said. Moose Wala started as a songwriter before a hit song in 2017 catapulted his singing career, making him well known among the Indian and Punjabi diaspora in countries like the United Kingdom and Canada. Most of his singles have an English title even though the songs were mainly sung in Punjabi. His glossy music videos were most famous for his rap lyrics and often focused on macho culture. His debut album in 2018 made it to Canada’s Billboard Albums chart. Moose Wala was a controversial figure, in part due to his lyrical style. In 2020, police charged him under India’s Arms Act for allegedly promoting gun culture in one of his songs. His latest track, “The Last Ride,” was released earlier this month. The rapper joined India’s Congress Party last year and unsuccessfully ran in the state’s assembly elections. Punjab’s chief minister Bhagwant Mann said, “no culprit will be spared” and that he was deeply shocked and saddened by the murder. Rahul Gandhi, a senior Congress leader, took to Twitter to express his condolences over the killing. Pakistan, Militants Halt Peace Talks for Internal Discourse Amid Cautious Optimism Pakistan’s direct peace talks with an outlawed alliance of insurgent groups, being mediated and hosted by Afghanistan’s Taliban rulers, have reportedly made progress, with both sides agreeing to pause the process for internal deliberations and return to the negotiating table by mid-June. The several days of discussions between Pakistani security officials and commanders of the Tehrik-i-Taliban Pakistan (TTP), or the Pakistani Taliban, concluded over the weekend in the Afghan capital, Kabul, with both sides pressing their set of demands and promising to adhere to an ongoing temporary cease-fire to preserve the progress, officials and militant sources said Monday. The meeting marked the second round of talks between the two rivals since early this month, when they first came to the negotiating table at the request of the Afghan Taliban, a Pakistani official told VOA on condition of anonymity because he was not authorized to talk with the news media. The peace process has led to the temporary cease-fire, the release of dozens of militants from Pakistani jails and a significant reduction in TTP attacks in Pakistan. The Pakistani official said the nearly month-long truce was due to expire Monday but would likely be extended to help prevent derailment of the fragile process. He noted that even if there were no formal militant announcement about an extension of the cease-fire, there would be no “major” counter-militancy operations” by Pakistani security forces, nor would the TTP carry out attacks against them. The Pakistani official hailed the host Taliban government for making “utmost efforts” to ensure relevant TTP commanders were present at the table to carry the dialogue forward productively. He noted that acting Afghan Interior Minister Sirajuddin Haqqani “is playing the key role” in mediating the talks.

TUESDAY MAY 31, 2022 • T H I S D AY

TUESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

IN PURSUIT OF HIS LIFELONG AMBITION... All Progressives Congress Presidential Aspirant, Bola Tinubu (left) appearing before the party's Presidential Aspirants Screening Committee at the Transcorp Hilton Hotel, Abuja… yesterday

Buhari: Nigeria Engaging Navies across Gulf of Guinea for Maritime Safety Blessing Ibunge in Port Harcourt President Muhammadu Buhari has eulogised the Nigerian Navy for its commitment in ensuring the safety of the nation's waterways. The president stressed that the Nigerian Navy partnering other Navies across the Gulf of Guinea was in the right direction to enhance

capacity that would guarantee a collective maritime defence. Buhari spoke yesterday, through the Minister of Defence, Bashir Salihi Magashi, at the 2022 International Maritime Conference in commemoration of the 66th Anniversary of Nigerian Navy, held at Onne, Rivers State. Speaking further, Buhari said the

conference would fashion out the best way for collaboration among security architecture and curb maritime crime in the collective maritime environments. He said: "To this end, we owe a strong reason to support the Nigerian Navy and I make bold to commend the Nigerian Navy for their giant strides in maritime

security operations, which resulted to several arrests of economic saboteurs, perpetrators of illegal bunkering, smugglers, pipeline vandals, and other miscreants in the fight against illegality in the Gulf of Guinea maritime domain. "The efforts has brought about decline in piracy and ultimately delisting of Nigeria from the In-

Alleged N2.9bn Fraud: Court to Hear Okorocha's Bail Request Today Ex-Imo governor slams N1bn suit against FG over alleged unlawful arrest Alex Enumah in Abuja and Wale Igbintade Justice Inyang Ekwo of a Federal High Court, Abuja, yesterday adjourned to today, to entertain the bail application of former Imo State Governor, Rochas Okorocha. However, the Senator representing Imo West District has instituted a legal action against the federal government over his alleged unlawful arrest and continued detention in the custody of the Economic and Financial Crimes Commission (EFCC). The judge fixed the date after the Senator representing Imo senatorial district was arraigned before him on corruption charges. The EFCC had arraigned Okorocha on a 17-count charges bordering on alleged diversion of the sum of N2.9 billion belonging to the state government. According to the charge, Okorocha had diverted the funds from the Imo State Government House Accounts and that of the Imo State Local Government Joint accounts to private companies. The alleged fraud was said to have been perpetrated by Okorocha and one Anyim Inyerere with the use of their private companies between 2014 and 2016, when he held sway as the Executive Governor of Imo State. He, however, denied all the charges preferred against him by the EFCC. Following his not guilty plea, EFCC counsel, Gbolahan Latona asked the Judge for an adjournment to enable him assemble his witnesses that would testify in the case. According Latona, the Commission have listed 15 witnesses to testify against the APC presidential aspirant.

He added that most of the witnesses were outside the court jurisdiction because of the peculiar nature of the charge. Responding, Okorocha's counsel, Okey Amaechi told the court that he had filed application for Okorocha's bail and had also served same on EFCC. He attempted to argue the application but was opposed by the anti-graft agency which claimed that it intends to file counter affidavit against the bail issued. Although, the EFCC'S lawyer sought adjournment to June 1 for arguments on bail, Justice Ekwo ruled that he would take all the bail applications on May 31, and directed the EFCC to endeavor to file its opposition within time. Justice Inyang Ekwo subsequently ordered Okorocha's further detention with the EFCC till May 31, when his bail application would be argued. Meanwhile, Okorocha, in a legal action filed by his lawyer, Chief Mike Ozekhome, SAN, is seeking the sum of N1 billion as compensation for the invasion of his Abuja, and subsequent arrest and detention by operatives of the EFCC without any legal justification. The EFCC and the Attorney General of the Federation are listed in the suit filed on May 27 as 1st and 2nd defendants respectively. The presidential aspirant among others is asking the court to declare that the action of the EFCC violates his fundamental rights of movement, association, owning of property amongst others. He is also seeking an order of perpetual injunction restraining the defendants from threatening or harassing, arresting and detaining him in respect of the same or similar matter pending before the court or any other matter for which he

knows nothing about. In an affidavit of urgency deposed to in support of the fundamental enforcement right suit, the deponent, Mrs. Uloma Nwosu, claimed that the action of the EFCC was targeted at incarcerating the federal lawmaker and prevent him from participating in the presidential primary election of the APC slated for May 30 and 31. According to the deponent,

Okorocha has committed no known offence that would warrant the siege of his residence and subsequent arrest and detention, adding that the EFCC to her knowledge did not invite the former governor for investigation or explanation on any alleged crime. She therefore urged the court to grant the application in the interest of justice.

ternational Maritime Bureau of piracy list in March 2022. “The Nigerian Navy is the pertinent agency in the marine sector that has the responsibility in the constitution to check threats in the maritime threats.” He added: “These threats have become transnational and beyond the scope and capability of one nation to deal with. The situation therefore calls for international collaboration and this conference therefore symbolises strategic collaborative initiative between the Nigerian Navy and other international maritime stakeholders, to mitigate the increasing vulnerabilities in African water especially in the Gulf of Guinea." Earlier in his remarks, the Chief of Naval Staff, Vice Admiral Awwal Gambo, noted that this year's international maritime conference with the theme: "Optimising collaboration for maritime security and socio-economic development in Africa," was apt and timely. Gambo noted the increasing demand for effective collaboration in maritime policing, stressing that the current security threat in the

Gulf of Guinea was of serious concern to the larger Africa and global Communities. "Typically, maritime threats within the Gulf of Guinea have become transnational and are evolving beyond the scope and combat capability of one nation. "One of the major implications is the increasing demand for effective collaboration in maritime policing, the present situation calls for greater international collaboration as well as intelligence cooperation within states." The CNS also regretted that in the past decade, a huge capacity gap had emerged amongst the Gulf of Guinea of Navies at Portugal in efficient discharge of its mandates. According to Gambo "The conference will provide a veritable platform to collectively proffer way forward in addressing the major challenges in the maritime environment. "It is hoped, that this forum will facilitate the much needed discuss towards identifying variable concept and constructive action plans that will support this initiative."

KOMOLAFE: NIGERIA LOST N434BN TO CRUDE OIL THEFT IN Q1 OPEC quota, but we are working assiduously on this by looking at all the relevant issues. For example, we are tackling the problem of crude oil theft, which has seriously affected our production,” he said. On local content, he pointed out that Nigeria has made significant progress in 10 years, growing local participation in the oil and gas sector from 3 per cent to 35 per cent, saying that a target of 70 per cent has been set for the near future. He added that the concluded 2020 marginal field bid round will bring local companies into the production space by allowing them to learn how to operate with smaller fields and prepare them to take over any assets divested by IOCs.

Dangote Calls for Single-digit Tax Regime to Encourage Investments in Petroleum Sector

Meanwhile, Dangote has advised the federal government to introduce a single-digit tax regime to encourage investments in the downstream and midstream sectors of the Nigerian oil and gas industry. The promoter of the 650,000 barrels per day Dangote Refinery and

Petrochemical Plant, also emphasised the need for the government to invest more on quality infrastructure to reduce importation of refinery equipment that would ordinarily be sourced in Nigeria. Dangote made the call in Lagos while speaking at the just-ended Nigerian Content Midstream and Downstream Summit organiser by the Nigerian Content Development and Monitoring Board (NCDMB), with the theme: "Maximising Potentials in the Midstream and Downstream Oil and Gas Sector – A Local Content Perspective." The Director, Corporate Communications, Dangote Group, Mr. Tony Chiejina, in a statement stated that the President of Dangote Group was represented at the event by the Technical Consultant, Dangote Industries Limited, Mr. Babajide Soyode. Dangote noted that the development of specific, sustainable equipment manufacturing and services should be the focus of the NCDMB and the federal government. “Funding of a project should be to ensure that substantial part of the product plant must be of Nigerian origin; the same applies to goods and services.

“Government should ensure a single digit tax regime to encourage investment in the downstream sector,” Dangote said. He, however, stated that the coming on stream of his refinery would expose Nigeria’s midstream and downstream sectors to the international markets. He maintained that the refinery currently under constructed in Ibeju-Lekki, Lagos, would guarantee availability of high quality environmentally compliant products in Nigeria, regional markets in West Africa, Southern Africa and inter-continental markets. Dangote said the refinery would promote competition of local refining in Africa by encouraging existing large refineries to upscale, which would result in surplus products for exports. “Dangote Petroleum Refinery will guarantee adequate fuels production for domestic consumption and availability of excess products for export which will help to stabilise our domestic currency. “It will lead to upgrading and expansion of Nigerian National Petroleum Company Limited's refineries and promotion of prospects of Nigeria’s transformation to

a regional refining hub,” Dangote stated.

Brent Crude Oil Hits $120 Per Barrel

Oil prices climbed above $120 a barrel yesterday, hitting their highest in more than two months as traders priced in expectations that the European Union would eventually reach an agreement to ban Russian oil imports. Brent crude futures contract for July, which would expire today, was up $1.35, or 1.1 per cent, at $120.78 a barrel. The August Brent contract , which was more active, rose $1.27 or 1.1 per cent to $116.81 a barrel. Also, United States West Texas Intermediate (WTI) crude futures jumped $1.11 or one per cent to $116.18 a barrel, extending solid gains made last week. The EU is meeting to discuss a sixth package of sanctions against Russia for its invasion of Ukraine, which Moscow calls a “special military operation”. “Europe has been haggling about this for the better part of a month, but increasingly the market is pricing (additional sanctions) in as a risk,” said Daniel Ghali, senior commodity strategist at TD Securities in Toronto.

TUESDAY, ͻ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

NWAPALLY IS 50... L-R: CEO Momoh Autos Gani Momoh; the celebrant and CEO Pally Agro, Nwapally Onyeagwu, and CEO XO Pub, Akunna Anazia, at Onyeagwu’s 50th birthday anniversary celebration…recently

Gunmen Attack Anambra State-owned Broadcast Station, Burn Vehicles, Building One policeman killed, riffle stolen David-Chyddy Eleke in Awka Unidentified gunmen in the early hours yesterday, invaded the

premises of Anambra Broadcasting Service (ABS), Awada, Onitsha station, burning two vehicles and a building in the compound.

Group Seeks Tourism Promotion as Tool for National Devt lenges hindering the progress of Oluchi Chibuzor

The Malaysia Chapter of the Oodua Progressives Union (OPU) yesterday stressed the need for the country to achieve its national development programme and reduce its dependence on foreign loans through cultural promotion and tourism. The OPU also reaffirmed its commitment to the Yoruba cultural identity through promotion of culture and tourism. Speaking at the 2022 edition of the OPU Malaysia day, with the theme: “Uniqueness of Yoruba Cultural Heritage for National Development,” Dr. Ayokunmi Khumalo, re-affirmed the strengths of Yoruba race as a people. He insisted that Yoruba from time immemorial, remained a race of distinguished citizens with records of successes in education, health, sports, science and technology, politics as well as human growth and development. Examining how the Yoruba rich cultural heritage could be used for national development, he noted that it was critical to provide concise, but succinct solutions to the chal-

the Yoruba race. According to him, the challenge was that the developmental efforts had been hampered by the country's extreme poverty and unequal distribution of resources. “Since all development theories have failed to work for us and foreign loans have increased our debt, we should look inward for our development drives. Tourism through cultural heritage promotion can help our inward- looking development drive," he added. Proffering solutions, he stated that the best solution to address these issues would be for those in charge of the country's affairs to embrace what is truly theirs and also desist from seeking solutions through loans and other forms of financial assistance from international communities. "We can use both tourism and cultural promotion as tools to achieve development through tourism. This will undoubtedly have a positive impact on income generation, job creation, and the improvement of people's living standards.

The gunmen believed to be part of those terrorising the state for over a year, forced their way into the complex, burning a building, a company bus, and another vehicle parked in the premises belonging to a staff, who had worked overnight. Though no life was lost, the gunmen brutalised the staff they met in the premises, who worked nightshift, inflicting injuries on them. As at the time of filling this report, a staff, who begged for anonymity said they were being

interrogated by security agents over the attack. Meanwhile, gunmen on Sunday afternoon, killed an unidentified policeman at Ogidi, Idemili North Local Government Area of Anambra State, dispossessing him of his riffle. A source, who spoke to THISDAY said the gunmen stationed themselves close to Ogidi Town Hall, where some policemen usually man a checkpoint. "They stayed there for a long time, waiting, until they sighted one of the policeman, who they

shot dead, and dispossessed him of his AK 47 riffle, before they fled," the source said. The spokesperson of the state police command, DSP Toochukwu Ikenga, confirmed both incidences, saying the state police command was on top of the situation. While reacting to the killing of a policeman, he confirmed that there was a gun duel between policemen of some hoodlums, which led to a fatal wound on one of the policemen. "Information before me states that on 29/05/2022 at about

12:50pm, Police Operatives on observation patrol along Abatete expressway, Ogidi engaged some armed hoodlums. "Unfortunately, during the gun duel one of the police operatives was fatally wounded and due to the superior fire of the police, the gunmen were made to flee the scene," he said. Ikenga, however, said operation at the scene was still ongoing and patrol has been intensified in the area, even as he promised that, further developments would be communicated.

A'Ibom Plans 10 Aircraft to Expand Ibom Air’s Fleet Okon Bassey in Uyo As part of efforts to dominate the air space, the Akwa Ibom State Government has disclosed of plan to add 10 new aircraft to the fleet of the state-owned Ibom Airlines Limited. The State Governor, Mr. Udom Emmanuel, said this during a broadcast to the people of the state yesterday, to mark his seven years in office. The airline which already has five Bombardier aircraft and two Airbuses has become a toast of the county's aviation industry since it commenced commercial operations three years ago. He noted that the establishment of Ibom Air had become a testament to the creativity and

strategic planning of the present administration in the state. "Today, Ibom Air with a fleet of seven aircraft, comprising 5 CRJ 900 Bombardier series and two brand new Airbuses A300220 series with ten more brand new Airbuses soon to be added to its fleet, has raised the profile of our state, and has made the ease of doing business in our state, appealing. "It has provided jobs to hundreds of our people. Our youths are being trained in aircraft maintenance and in flying schools to become commercial pilots. Ibom Air represents and has made manifest the biblical assertion that ‘when men are cast down, then thou shalt say, there is lifting up.’

"We are embarking on total aviation development. Our MRO, (Maintain, Repair and Overhaul) facility is 85 per cent complete. Once commissioned, hopefully by October this year, this facility will again create jobs for our people and bring in foreign exchange to our state," he said. The Victor Attah International Airport Terminal, with a capacity to process at least one million passengers a year, the governor said would be the smartest and most intelligent in the country when commissioned. "With the capacity to process over one million passengers a year, and fitted with the most current technology available, The Akwa Ibom Airport is poised to make our state an aviation hub in the

Gulf of Guinea. "This facility has also provided hundreds of jobs to our teeming youths, and once completed, would add hundreds more, thus fulfilling one of the central campaign promises we made: Job creation. Our Taxiway, the longest in the nation’s aviation space, will soon be commissioned. "There is no doubt that in seven years, the story of our growth in the aviation sector is being written in golden lines and more chapters will be added. We should feel proud of this huge achievement," he explained. He warned against toxic comments and actions that could pitch the people against themselves and impact negatively on the prevailing peace in the state.

OPINION

The EU Should Forget About Sanctions –They’re Doing More Harm Than Good Simon Jenkins

ix million households in Britain face the possibility of morning and evening blackouts this winter to maintain sanctions against Russia, as do consumers across Europe. This is despite Europe pouring about $1 billion a day into Russia to pay for the gas and oil it continues to consume. This seems crazy. Proposals by the EU to halt the payments are understandably being opposed by countries close to Russia and heavily dependent on its fossil fuels; Germany buys 12 per cent of its oil and 35 per cent of its gas from Russia, figures that are much higher in Hungary. The EU in Brussels seems not to know what to do. A diplomatic compromise has been raised – exempting sanctions on imports via pipeline,

which would spare Hungary and Germany – but no practical plan has been agreed. The real reason is that arguments over the sanctions weapon have been reduced to macho rhetoric. They are supposed to induce a foreign regime to change some unacceptable policy. This rarely if ever happens, and in Russia’s case it has blatantly failed. Apologists now claim that sanctions are merely a deterrent, intended to work in the medium to long term. As war in Ukraine shifts into a different gear, that term could be long indeed. Sanctions may have harmed Russia’s creditworthiness, but the 70 per cent surge in world gas prices alone has supercharged its balance of payments. Its current account trade surplus, according to its central bank, is now over three times the pre-invasion level. At the same time, sanctions are clearly hurting countries in western

and central Europe who are imposing them. It is absurd to expect Hungary to starve itself of energy and, as it says, “nuclear bomb” its economy, with no fixed objective or timetable in sight. Sanctions have an awful habit of being hard to dismantle. Worse is to come. Russia’s reaction to sanctions has been to threaten to cut off gas to Europe, further driving up prices to its advantage. It is already blockading the Black Sea ports, from which millions of tons of Ukrainian grain are normally shipped to the outside world. This blockade has seen cereal prices rise 48 per cent on their 2019 base, devastating markets, particularly across Africa. This in turn has increased the value of Russia’s own massive grain exports. Russia has offered to lift the blockade if sanctions are lifted. Whether it means this is moot, but the west cannot be blind to the unintended

consequence of its sanctions war. Nato has been sensibly scrupulous in not escalating the war in Ukraine into a Europewide conflict. Sanctions know no such subtlety. Millions of innocent people across Europe and far from its shores will suffer as food and energy prices soar. Supply lines are disrupted. Trade links collapse. The victims are overwhelmingly the poor. The objective – to compel Russia to withdraw its forces from Ukraine – has patently not been achieved. Military aid has been far more effective in that respect. But the harm done to the rest of Europe and the outside world is now glaring. The EU should stick to helping Ukraine’s war effort and withdraw economic sanctions against Russia. They are self-defeating and senselessly cruel. Culled from The Guardian, UK

TUESDAY MAY 31, 2022 ˾ T H I S D AY

NEWS

Methodist Prelate, Other Abductees Regain Freedom in Abia Emmanuel Ugwu-Nwogo in Umuahia The Prelate of the Methodist Church Nigeria, His Eminence Samuel Kanu Uche has been set free along with two other clerics and his driver who were abducted on Sunday. News of their release filtered in last night just as the Church leadership was already mobilising members to raise N100 million ransom demanded by the kidnappers. It also not clear if the ransom was eventually raised and paid. The Police Public Relations Officer(PPRO) Abia State Command, Mr. Geoffrey Ogbonna, confirmed the cheering news to THISDAY when contacted on phone but declined to give details of how the clerics regained their freedom. “All I can confirm to you now is that they have all been released,” he said. Similarly the Presbyter of Wesley Cathedral Umuahia, Very Rev. Aaron Akabuokwu confirmed the release of the head of the Methodist Church in Nigeria. He told THISDAY that it was really true that the evil men that laid their hands on the men of

God have set them free to the glory of God. “Information reaching us is that he (Prelate) and the others with him have been released,” he joyfully announced, adding, “I don’t have details for now” on where and how they were released.

Before the release of the prelate and others, the Secretary of the Conference, Rt. Rev. Michael Akinwale, appealed to all parishioners to rise up and help in raising the N100million ransom. He said: “The devastating news of the abduction of our Prelate, the Bishop of Owerri,

and the Prelate’s Chaplain has left everybody in shock. “This is a period of trial in which the Church must cry out that ‘the Lord that answereth by Fire’ must be our God to destroy all the manipulations of the adversary. Let us all arise and cry out to the Lord!

“As we engage in prayer warfare, this serves to notify you that the abductors have demanded a ransom of N100 million. “In view of the urgency and the dire need to arrest the situation for the safety of our prelate and other abductees, it has become

imperative to seek your urgent response to raise the N100 million ransom. “The safety of the prelate and other abductees must be of paramount concern to all, and your contributions spiritually and monetarily shall not go unrewarded.”

COURTESY VISIT TO MAN…

L-R: Director, Corporate Services, Manufacturers Association of Nigeria (MAN), Mr. Ambrose Oruche; Chairman / Managing Director, Henkel Nigeria, Mr. Rajat Kapur; Director-General, MAN, Mr. Segun Ajayi-Kadir; Head, Manufacturing, Henkel Nigeria, Mr. Roman Rylyk, and Head, Research and Development, Henkel Nigeria, Mr. Innocent Ojiaku, during a courtesy visit by the company to MAN in Lagos… recently ETOP UKUTT

2022: Buhari Won’t Rig Ekiti Shina Peller Loses Election, Alleges Assassination Attempt Poll for APC, Says Oni Udora Orizu in Abuja andKemi OlaitaninIbadan

Victor OgunjeinAdoEkiti A Former Governor of Ekiti State and Candidate of the Social Democratic Party (SDP) for the June 18 governorship poll, Mr. Segun Oni, has boasted that those who thought that President Muhammadu Buhari would rig the impending election for him would be disappointed. Oni said that Buhari is a man of integrity and that he would resist attempt by some people to enlist him into any alleged invidious act to rig the June 18 election in favour of the All Progressive Congress (APC) Governorship Candidate, Mr. Biodun Oyebamiji. In the same fashion, a pro-Oni group under the name Ekiti Build Back Better (EBBB), has said that the people of Ekiti would not elect an “absentee governor” as being currently witnessed under the administration of Governor Kayode Fayemi. In a statement made available to journalists in Ado Ekiti, yesterday,

the Director of Media and Publicity, Segun Oni Campaign Organisation, Mr. Jackson Adebayo, said that those allegedly piling pressure on the Inspector General of Police (IGP), Mr. Baba Alkali, about Ekiti’s election would meet their waterloo, saying security institutions belong to all Nigerians and that they could not be manipulated for any contestant. Oni said: “Governor Fayemi had boasted at the meeting he held with some key members of the Biodun Oyebanji Campaign Organisation at Lady Jibowu Hall in the Government House, Ado Ekiti, that he has the IGP, the Chief of Army Staff and the Director-General of DSS in his pocket as the chairman of the Governors’ Forum. “We are aware of their moves to truncate the Ekiti election in case they did not get the expected response from the Presidency. We, however, warn him to shelve the idea because Ekiti people will not take it lightly with him and his co-travellers.

A member of the House of Representatives from Iseyin/ Itesiwaju/Kajola/Iwajowa federal constituency, Honourable Shina Peller, has revealed there was an attempt to assassinate him on his way from Ibadan to Oke Ogun on Sunday 29th May 2022. In a statement he made available to journalists, the legislator also insisted that there was no All Progressives Congress (APC) Senatorial primary election in

Oyo North. Regarding the report on the assassination attempt on his life, he said: “This was true. I was at Premier Hotel in Ibadan for the meeting with otherAPC Oyo North Senatorial aspirants who were not satisfied with what happened in Iseyin on Saturday. After the meeting, I left Premier Hotel for Oke Ogun in my convoy. However, a few minutes after we had left, I got an intel that six vehicles (Four cars, and two buses) loaded with thugs and ammunition were on my trail to take my life. They gave

the description of the vehicles, and I passed the information to my security details. “When we got to the spot, we actually noticed that the vehicles in question matched the same description we had been given earlier and had campaign stickers and face caps of Senator Teslim Folarin. My security details then decided to disarm and arrest them. My life is seriously being threatened just because I am trying to protect the interest of my dear people from the Oke Ogun region. I am using this opportunity to call

on President Muhammadu Buhari, relevant stakeholders and security agencies to call Senator Teslim Folarin and his evil machinery to order, as people will hold him accountable if anything happened to me, my family or my aides.” Speaking further, he said there have been calls from loved ones, supporters, close associates and family about the controversy surrounding the APC) Oyo North Senatorial Primaries which was scheduled to hold on Saturday 28th May 2022 at the Iseyin District Grammar School (IDGS).

2023: I’ll Retire Shekarau, Kwankwaso from Politics, Zaura Boasts

Ibrahim Shuaibu in Kano

A candidate for Kano Central Senatorial District in All Progressives Congress (APC), Abdulsalam Abdulkarim Zaura, has boasted that he will defeat a serving Senator, representing the zone in the senatorial Ibrahim Shekarau in 2023 election and retire him and former Kano State governor, Rabi’u Musa Kwankwaso in politics. Zaura said he is not threatened by the political

merger of the two political giants in the state. Speaking to journalists in Kano, Zaura said the 2023 senatorial election would be the time he would send Kwankwaso and Shekarau parking and retire them in politics. According to him, the time of Kwankwaso and Shekarau in politics is up, urging them to leave it to youths, who are coming up to dominate. “Kwankwaso and Shekarau,

the two former governors and senators. I think their time is up. Everything has its own time. This is our time. “In the general contest, we will send them packing. We will send them to rest. It is a very good time for them to rest. If we go there, we can do better, in fact, we will do better “I respect all of them. They are my fathers, but I think it is time for them to rest from politics,” Zaura said. He, however, said his

opponents, including those within APC, had engaged in campaigns of calumny against him, expressing gratitude that “in the end, I have succeeded.” “To God be the glory. Despite what they did to me, I am extending my hands of cooperation to them that they should come and join the winning train because ours is the winning team God willing. “Let them come and join hands for the success of our great party, the APC,” he added.

Oni raised the alarm in a letter addressed to the PDP National Chairman, Dr Iyorchia Ayu and made available to journalists, in Abeokuta, asking the party to intervene urgently before the deadline set by the Independent National Electoral Commission (INEC), for submission of candidates’ name for the 2023 Election. In the Oni’s letter dated 24th May, 2022 and which was received and acknowledged on 26th May, 2022, he said he made himself

available at the designated venue for the primary, but had to leave, when the officials appointed by the PDP National Headquarters, did not report for the exercise. The aspirant’s claim, was corroborated by the Chairmen of PDP in the three local governments that constituted the Federal Constituency and the Ogun Central Senatorial Chairman, in another letter, dated 24th May, 2022 addressed to the Ogun State Chairman of PDP, Alhaji Sikiru Ogundele and signed by the

official of the party in the state. The four party officials that signed the letter entitled ,”Nonconduct of House of Representative Primary Election Abeokuta North, ObafemiOwode and Odeda Federal Constituency”, are: Hon Akinlabi Taiwo (Ogun Central Senatorial Chairman), Hon Muyiwa Ojebiyi (Chairman, Obafemi Owode Local Government), Hon Akeem Anifowose (Chairman, Abeokuta North) and Hon Adesina Adebayo (Odeda Local Government).

NSCDC Sensitises Traditional Rulers to Peaceful Resolution PDP Chairmen, Aspirant Raise Alarm over Non-conduct of Primary in Ogun The Kwara Command of the of families and individuals are Nigeria Security and Civil Defence Corps (NSCDC) has sensitised some traditional rulers in Ilorin to peace and conflict resolution. The sensitisation programme was organised by the Peace and Conflicts Resolution Unit of the command, at a Town Hall meeting in Ilorin yesterday. The state NSCDC Commandant, Mr Makinde Ayinla, appealed to the Baloguns, Mogajis, Alaguas and other traditional heads to always make use of peaceful resolution means to resolve any dispute that might arise on land matters in their respective areas. Ayinla, who was represented by DCC Adeoye Fatai, Head of Unit of Peace and Conflicts Resolution, decried growing number of land related issues and matters which the unit was handling. He informed the forum that the issue of government taking over landed properties

for the development of the town. The state commandant explained that notable and major development had been done by the government, including job opportunities that the town had benefited from giving up their landed properties. “We want to appeal to the forum to always make use of alternative dispute resolutions and not to use any violent method when dealing with government or individuals. “I also want to assure you that when government takes over any landed property belonging to family or individuals, compensations will be paid,” he said. AlhajiZulukarnainiAbdulRahman, the Chairman of Alangua/Mogaji Forum, expressed gratitude for the programme and assured that the forum and entire people of the town would work together with the unit.

James Sowole in Abeokuta

Barely a week after the primary for the election of candidates of the Peoples Democratic Party (PDP), for House of Representatives, had been held, an aspirant, for the Abeokuta North/Obafemi Owode/Odeda Federal Constituency in Ogun State, Hon Oluwafemi Abiodun-Oni, yesterday alerted the National Chairman of the party, that the exercise, was yet to hold in the constituency.

Court Jails Three Fraudsters over Cybercrime in Kwara A Federal High Court sitting in Ilorin has convicted three persons over offences bordering on cybercrime. The Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC) secured the conviction yesterday. The convicts are: Pelumi

Omoniyi from Ekiti State, Oluwadamilola Faloye from Akure, Ondo State, and Lukman Olanipekun from Oke-Iyin, Ekiti state. The defendants pleaded guilty to their respective charges. The presiding judge, Justice Muhammed Sani, in his judgment said that the

available facts and proof of evidence presented had proved the cases beyond reasonable doubt. The judge sentenced Omoniyi, Faloye and Olanipekun to oneyear in prison, with option of N200,000 fine each. Sani ordered that all the sum of money and gadgets

recovered from the proceeds of the convicts’ unlawful activities be forfeited to the Federal Government. The prosecutors, Messrs Innocent Mbachie and Andrew Akoja, had prayed the court to consider the extra-judicial statements of the defendants and convict them as charged.

TUESDAY MAY 31, 2022 ˾ T H I S D AY

NEWSXTRA

Alleged Fraud: EFCC Declares Ex-lawmaker, Chuma Nzeribe, Wanted

Former member of the House of Representatives, Chief Chuma Nzeribe, has been declared wanted by the Economic and Financial Crimes Commission, EFCC. Justice Yusuf Y. Halilu of the Federal Capital Territory High Court, Maitama, Abuja had on May 23, 2022,convicted Nzeribe for fraud in absentia. However, Head of Media and Publicity, EFCC, Wilson Uwujaren, in a statement yesterday, said

Nzeribe, 62, jumped the court bail granted to him by the FCT High Court, Maitama and has since not been seen. “His last known address is at Block M7, Flat 8, NNPC Housing Estate, Area 11, Garki, Abuja,” the spokesperson said in public notice. Uwujaren called on the general public to assist in apprehending former lawmaker. “Anyone with useful information as to his whereabout should please

contact the Commission in its offices or report to the nearest Police Station and other security agencies,” he said. Nzeribe was first arraigned by the EFCC on October 16, 2020, on a four-count charge bordering on possession of fraudulent document, forgery, using as genuine and cheating by impersonation, punishable under section 6, 8(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under section 1 (3) of the same Act.

Katsina Judiciary, ICPC Partner to Fight Corruption Francis Sardauna in Katsina The Katsina State judiciary has pledged to partner the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to curb corruption in the state. The state Chief Judge, Justice Musa Danladi Abubakar, made the pledge yesterday when he received in audience the state Resident Commissioner of the ICPC, Mustapha Abubakar Wala, and other members of the commission in his office. He explained that the partnership with the anti-corruption agency would go a long way in fighting corruption-related cases and create awareness for the public on the need

to shun depravity. The Chief Judge said ICPC as an institution saddled with the responsibility of handling corruption cases would be accorded the needed cooperation in the state to fight corruption and other related offences. He said: “We had attended training; retraining, and workshops with the ICPC, and we have observed that when the judiciary is in isolation without rubbing minds with the ICPC, it cannot succeed, neither does the ICPC. “So, it is a necessary partnership, but we want it to go on a smooth path, and that has been going on. Now that you are close to us, I want to assure you that you will

receive the maximum cooperation from us.” He, however, said the state Sharia Commission would also partner the ICPC on the training of the newly elected local government area chairmen and councillors to tackle corruption in their respective areas. He decried that previous local government officials in the state awarded contracts without paying the contractors, warning that anyone found wanting among the newly elected officials would face the wrath of the law. Earlier, the state ICPC Resident Commissioner, Wala, admonished the Chief Judge to designate Judges that would hear cases of corruption to enhance speedy dispensation of justice in the state.

2023: Accord Party Unveils Hakeem Dickson as Governorship Candidate Rebecca Ejifoma The Accord Party (AP) yesterday unanimously unveiled former Chairman of Surulere Local Government, Hakeem Olaogun Dickson, as governorship candidate for Lagos State for the 2023 gubernatorial election. Dickson is a seasoned accountant, politician, and health and safety practitioner. He was nominated at the party’s primaries which was held at the Airport Hotel, Ikeja. The Chairman of the Electoral Committee of the party, Comrade Lanre Ogundare, declared, “By the power vested in me, I, hereby, declare Hon. Hakeem Olaogun Onikoyi

Dickson as the governorship candidate of Accord Party for the 2023 General Elections.” Reacting to the nomination, Dickson tendered his acceptance speech. “With a grateful heart and the sole obligation to devote every effort of my body, mind and spirit to lead our party to victory in 2023 and our State back to greatness, I humbly accept the nomination.” According to the candidate, with this kind of a unity among members of Accord, “We are ready and eager to take on the APC, PDP and other 15 political parties next year 2023.” He envisaged, however, that 2023 can be a year of inspiration and hope. He added that it would be a year of

concern, quiet and sober reassessment of “Our State’s” character and purpose. “It has already been a year when voters have confounded the experts. And I guarantee you that it will be the year when we give the government of this State back to the people of this State,” Dickson said. He assured the party members that there is a new mood in the state. “Our people are searching for new voices and new ideas and new leaders. “Although the government has its limits and cannot solve all our problems, we Lagosians reject the view that we must be reconciled to failures and mediocrity, or to an inferior quality of life,” he said.

Ex-APC Legislators Decry Attempt to Stop them as Delegates Ibrahim Shuaibu in Kano The Forum of Former Legislators, First Republic to Date (APC members) have protested against recommendations by the National Assembly to President Buhari to remove their members as delegates to vote for the Presidential candidates of the ruling All Progressives Congress(APC). The recommendation is said to be awaiting the approval of the President and the forum called on him not to heed to the house’s request. This is contained in a statement signed by the Chairman of the Forum, Mr. Umar Sadiq, and

made available to THISDAY in Kano yesterday. The forum dissociated itself from any arbitrary move that would remove its members from exercising their rights as members of the APC. It made reference to the party’s Constitution Chapter 12 which stated the roles of the former legislators as accredited delegates in the state congress and national convention, describing attempts to remove them as a violation of their fundamental rights and by extension a violation of the Nigerian Constitution. The statement reads: “That any member of our great party, the

APC, calling for our removal from being delegates is doing so to suit his or her desire to tarnish the good image of our party in an attempt to sabotage its chances of winning the general elections come 2023, as it will reduce the chances of participating in a democratic process of the majority choosing a leader for our great country Nigeria. “Since we have exercised and enjoyed the rights of being delegates in previous dispensations, we do not see any need for our party to change course when the need is even more important at this time of our general elections.

Bago: I Will Increase Niger GDP by 30% within One Year Laleye Dipo in Minna The All Progressives Congress (APC) governorship candidate for next year elections in Niger State, Alhaji Mohammadu Umaru Bago, has stated that he will increase the Gross Domestic Product (GDP) of the state by 30 percent in his first year if he emerges the governor of the state in the election. Bago made the promise yesterday when he met journalists for the first time since he picked the ticket of the party last week. The APC standard bearer, who did not give details of the plan because “I have a blue print that I

will soon be unveiled,” added that: “I will come out with a robust plan that will revive the economy,” submitting also that his administration will be “women-friendly, and will provide employment for the youths in the state. “We will look for a way that within six months, youths will be engaged gainfully,” adding that the state has the capability to generate N30billion monthly to fund the scheme. Bago also promised to tackle insecurity in the state, “so that people in areas under terrorists and bandits’ attacks will return to their ancestral homes and begin normal

lives,” insisting that conventional and unconventional approaches will be adopted to check insecurity in the state. The APC standard bearer said if he becomes the governor in 2023, “it is going to be a new Niger State project,” and therefore, called for collaboration between him and the media in the state. He disclosed that he would construct a journalist village in the state where all facilities would be available for members of the media and their families. “We want positive criticism, as it is the only way we will know where we are going,” he added.

TUESDAY MAY 31, 2022 ˾ T H I S D AY

NEWSEXTRA

One Officer Killed as Police, Military Clash in Adamawa Daji Sani in Yola

One military officer was yesterday killed in a skirmish between the Nigeria police and military officers, which resulted in an exchange of gunshots between operatives of the two forces on the Numan Road in Adamawa State. The state Commissioner of Police, Sikiru Kayode Akande, disclosed this in a statement signed by the spokesperson of the state Police Command, DSP Suleiman Nguroge, yesterday. According to statement, “The CP strongly condemned the recent conflict between police and military officers on Numan road, which resulted in an exchange of fire, and the unfortunate murder of military officer who were all in their line of duty to protect the citizenry. “Consequently, the CP has ordered an arrest and investigation into the matter with a view to ensuring that peace and justice reign.” The state police boss also ordered the suspects involved in the conflict to report to the headquarters for further actions.

He warned that attacks on all security officers in the line of duty would no longer be tolerated under any guise, as the Command holds the lives of all security personnel sacrosanct,

and such unwarranted conflict would be strictly treated in accordance with the extant laws. Akande equally reiterated the commitment of the Command to protection of

lives and property, stressing that it is vital to work with other sister security agents to protect the fundamental rights of security operatives in order to enable them advance their

sacred mandate of serving and protecting the citizens better. He appealed for calm as the top managements of both security agencies are doing everything legally possible

to address the situation. However, every attempt to get the military authorities to respond to the unfortunate incident was fruitless at the time of filing this report.

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Civil Unrest: Bauchi Establishes Police Arrest Suspected Armed Robbers, Recover Arms, Ammunition in Lagos Police Outpost in Yelwan Tsakani Rebecca Ejifoma

Segun Awofadeji inBauchi

Bauchi State Governor, Bala Mohammed, has ordered for the immediate establishment of police outpost at Yelwan Tsakani area of Bauchi Local Government Area. He also pledged to procure operational vehicles for the police and other security agencies to intensify operations in the area to guarantee peaceful coexistence. The governor, who addressed the community members separately, enjoined them to be their brother’s keeper irrespective of any difference, even as he enjoined parents and other stakeholders to ensure the proper upbringing of their children and wards for sustainable growth

and development. He made the commitment while inspecting the level of damage caused by the civil unrest which resulted in the loss of three lives, destruction of houses and other property in the area recently. According to him, “We must learn to live together as one irrespective of any difference, for peace to reign supreme and to enable the government continue with the good work it is doing.” On the 24-hour curfew imposed on the area, the governor said it would continue for a few days until normalcy returns to the area, saying: “We did not do it to make you suffer; it is for our collective good.”

Group Tasks INEC on 18,857 Void Votes in Ekiti

Victor Ogunje inAdoEkiti

A group, YVote Naija, has tasked the Ekiti State stakeholders to tackle the twin evils of outrageous void votes and worrisome voter apathy being witnessed in the state. It revealed that it was disturbing that the Independent National Electoral Commission (INEC) allegedly declared 18,857 as invalid votes in the 2018 governorship poll in the state, which the group said confirmed poor voter education and awareness. In the election, the state Governor, Kayode Fayemi, of the

All Progressives Congress (APC), defeated his main challenger, Prof Kolapo Eleka, of the Peoples Democratic Party, and others. The Team Lead of the nongovernmental organisation, Mr. Habeen Adewale, raised the concern during an advocacy workshop held in Ado Ekiti, the state capital, yesterday. Adewale posited that the workshop was mooted to sensitise the women, People Living With Disabilities (PWDs) and youths, who constitute over 80 percent of the population to boost their participations in the electioneering process.

Another Explosion Rocks Kogi Community Ibrahim Oyewale in Lokoja

Barely two weeks after the bomb explosion that rocked the ancient town of Kabba, the headquarters of the Kabba/ Bunu Local Government Area of Kogi State, the state has experienced another explosion at a beer parlour opposite police station in the town. Sources said the explosion, which occurred at Odo Akete in the centre of Kabba town at 9: 15 p.m., was the second explosion in the community in the last two weeks. The first explosion which

has continued to generate controversies as to whether it was a bomb or a gas cylinder, occurred on May 11 at a beer parlour around Lewu Junction in Kabba Town, which claimed three lives out of the 16 persons affected in that explosion. However, the last explosion did not claim any lives, but the building was badly damaged. The Kogi State Police Command Public Relations Officer (PPRO), SP William Aya, who confirmed the incident, said there was no casualty in the explosion.

Officers of the Aswani Division of the Lagos State Police Command have arrested two suspected armed robbers, 24-year-old Marshal Sunday and 39-yearold Amaechi Obi, on May 22 this year. As noted in a media release its Spokesman, SP Benjamin Hundeyin, issued yesterday,

the suspects were arrested at 4.40pm or thereabouts at Five Star bus stop along Oshodi/Apapa expressway on the said date. They were nabbed after the officers flagged down an unregistered mini bus, popularly known as Korope, “On reasonable suspicion that the occupants were up to mischief. “After a thorough search, a Browning pistol and three rounds

of 7.65mm live ammunition were discovered in the vehicle”, the statement read. The Police also confirmed that one Fidelity Bank ATM card and one Itel mobile phone were found with the suspects. While two of the three occupants were arrested, the third gang member escaped. The release further stated: “Investigations have been intensified to arrest

the fleeing suspects and arraign them in court.” The Lagos State Commissioner of Police, Abiodun Alabi, commended the officers and men of the Command for their doggedness in the fight against crime. He, however, charged them to double their efforts towards annihilating crime within the state.

No Evidence I Stole N2.9bn from Eunisell, Ex-MD Tells Court Wale Igbintade

A former Chief Executive Officer (CEO) of Eunisell Limited, Kenneth Amadi has urged Justice Ambrose Lewis Allagoa of a Federal High Court in Lagos to uphold his ‘no case submission,’ insisting that he has no case to answer in the alleged N2.9 billion charge filed against him by the Attorney General of

the Federation (AGF). He further maintained that the prosecution through the evidence before the court did not establish any prima facie case against him. Defence counsel O.J. Akinwale moved the application dated and filed April 7, 2022, and a reply to point of law dated May 23, 2022. There was an affidavit in support of the motion and a written address with list of

authorities in support to uphold the no case submission of the defendant. The defence counsel submitted that there was no essential element of the offence charged. He stated that prosecution witnesses while giving evidence before the court testified that the N2.9 billion was not stolen, and that there was no money with the defendant.

He said: “There is no evidence before the court showing that the defendant committed the alleged offences in counts one, two, three, four and five. “The complainants contradicted themselves, blowing hot and cold. At one time they said money was stolen and in the evidence of the prosecution witnesses before the court, no money was stolen.”

Residents Protest Five Months Power Outage, Insecurity in Ondo Fidelis David in Akure

Angry residents of Irese town in Ifedore Local Government Area of Ondo State yesterday protested against an eight months power outage in the community. The residents, particularly the youths of the town, trooped out in their large numbers to

barricade the main roads for several hours, thereby impeding vehicular movements. The protest forced residents to hurriedly close their shops, while the aggrieved residents lamented that the community had been in total darkness for lack of power for five months. They berated the authorities of the Benin Electricity

Distribution Company (BEDC) for being insensitive to their plight. A resident of the community, Ms. Ifeoluwa Olomofe, said the lack of power, which enveloped the community for long, had increased the level of insecurity thereby necessitating the protest. She explained that the five months power outage

had adversely affected their businesses, especially the artisans, in the community. Olomofe said: “For close to five months now, the residents of Irese community have been in total darkness, a situation that has paralysed local businesses while some were even shut down and heightened insecurity in the town.

Crisis Erupts in Osun APC, Aspirants Call for Cancellation of Primaries Yinka Kolawole in Osogbo No fewer than 10 aspirants in the All Progressives Congress (APC), Osun State, have jointly called for the cancellation of the House of Assembly and National Assembly primary elections of the party, which they described as a sham. The aspirants, who were made up of 10 for House of Assembly and two for House of Representatives, pointed

accusing fingers on Governor of Osun State, Mr. Adegboyega Oyetola, and alleged acts of impunity and total disregard to democratic principles on the conduct of the primaries. The aspirants, yesterday, contended that the direct primaries were conducted without any election material or party document like membership register, result sheets, among others. The aspirants included

Hon. Waseeu Gbola Adebayo, (Olorunda State Constituency); Mr. Owoade Ademola Adeyemi, (Irewole/Isokan State Constituency); Mr. Wahab Kazeem Olanrewaju, (Ifelodun State Constituency); Mr. Babalola Iqmal Opeyemi, (Ede South State Constituency) and Mr. Kolawole Olalere Victor, (Ilesa East State Constituency. Others were Mrs. Adesola Arawole Adegbite, (OdoOtin State Constituency);

Mr. Olaoye Abdulhakeem, (Osogbo State Constituency); Mrs. Olaniyi Shariat Olanike (Ayedaade State Constituency); Mr Kasali Nurudeen Adelaja (Iwo State Constituency); Mr. Opadola Abdullahi Amobi, (Olaoluwa State Constituency); Hon. Komolafe Akinlabi Richard, (Ijesha-South Federal Constituency) and Mr. Ibrahim Oyekunle, (Ayedaade/ Irewole/Isokan Federal Constituency).

NECO Extends Registration Deadline for 2022 Kuni Tyessi in Abuja

The National Examination Council (NECO) has extended the deadline for the 2022 Senior School Certificate Examination (SSCE) schoolbased registration.

The SSCE enrollment was initially scheduled to close yesterday, Monday 30th of May 2022. It will now close on Monday, June 20. NECO’s head of information and public relations division, Azeez Sani, disclosed this in

a statement yesterday. Sani said: “State ministries of education, principals, commandants, and stakeholders are enjoined to note that there would be no further extension after that.” The forthcoming SSCE

exam will commence on June 27 and end on August 12, 2022. The statement noted that candidates sitting for the exam will be examined in 76 subjects during the examination.

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Peseiro Advocates ‘Attacking’ Football with Super Eagles

Femi Solaja Newly appointed Super Eagles’ coach, Jose Peseiro, has said that he has the desire to make the national team a more attacking side because he is an advocate of attacking football. Eagles lost their opening match 1-2 on Sunday to Mexico and will play Ecuador on Thursday before returning home for the AFCON 2023 qualifying round of matches. The Portuguese tactician thinks that the Super Eagles are blessed with talented players that will dominate

games if well-coordinated. At the post match briefing last Sunday at the AT&T Stadium, Arlington, Texas, the coach said he loves to attack and pressure his opponents and that is how the Eagles will play henceforth. “My philosophy as a coach is to play attacking football,” he explained. “I love my team to score and pressure the opponent, this is the best way to unsettle your opponent and win games,” he remarked. In the match, Peseiro opted for a flexible and interesting 3-5-2

formation, with Moses Simon and Calvin Bassey deployed as wing backs, and Joe Aribo, Alex Iwobi and Innocent Bonke serving in midfield. Cyriel Dessers and Terem Moffi searched for the goals. “That is how we played in the second half against Mexico and and we will work more ahead of the Ecuador game.” Peseiro lost in his first match in charge of the Eagles and he said he will take the blame for this. He maintained that stand-in captain William Troost-Ekong

should not be blamed for the team’s loss because he scored an own goal. “I will not blame Ekong or any player for the loss,” the coach said. “I take the responsibility of whatever happened to the team as the coach. “Because Ekong scored an own goal does not mean he is a bad player, he did well for the team. Every player in the world makes mistakes and that is not the end. He will come back stronger. “Every time people want players who committed error

to be singled out for a loss, it is not like that for me. It’s a team game and errors can happen to any player.” Watford defender Ekong scored

an own goal which happened to be the winning goal for Mexico as he tried to clear a cross. Nigeria will play Ecuador at the Red Bull Arena in Harrison.

Benzema Deserves to Win Ballon d'Or, Says Messi Real Madrid's French striker Karim Benzema deserves to win the Ballon d'Or this year after helping to guide his team to the Champions League title, seven-times winner of the award Lionel Messi said yesterday. Benzema had the best season of his 13-year career at Real, scoring 44 goals with 15 assists in all competitions as they won a LaLiga-Champions League double. The 34-year-old topped the scoring charts in both competitions and netted hat-tricks against Paris St Germain and Chelsea in the knockout stages to secure Real's progress. "There are no doubts, it's very clear that Benzema had a spectacular year and ended

up victorious in the Champions League," PSG forward Messi said on Argentine television. "He was fundamental in all the matches from the round of 16 onwards. I think there is no doubt this year." The Ballon d'Or award for the best soccer player in the world will be presented on October 17, with the nominees set to be revealed on August 12. The prestigious trophy will now be awarded on the basis of a regular season from August to July rather than a calendar year. Read full story Real Madrid's victory over Liverpool gave them their 14th European Cup triumph – twice as many as the next most successful team AC Milan.

French Sports Minister Blames Liverpool Fans for UCL Chaos

El Moutaraji double gives Wydad African Champions League title

Wydad Casablanca Wins CAF Champions League Pitso Mosimane’s Al Ahly succumbed to a 2-0 defeat at the hands of Wydad Casablanca in the final of the 2021-22 CAF Champions League, played at the Stade Mohamed V yesterday night. A brace of goals from Zouheir El Moutaraji secured a third CAFCL crown for the Red Castle, adding to titles in 1992 and 2017. Mosimane and the Red Devils,

meanwhile, missed out on making history: Ahly, who already have a record 10 Champions League titles to their name, were hoping to become the first club to win the competition three times in succession, while the South African tactician was unable to equal Manuel Jose’s record of four CAFCL titles as a coach. The Portuguese won the

continental tournament in 2001, 2005, 2006 and 2008 with Ahly, while Mosimane’s three triumphs have come with Mamelodi Sundowns in 2016 and Ahly in 2020 and 2021. Wydad started the stronger of the two teams but had to wait until the 11th minute for a first shot in anger, with Guy Mbenza letting fly from just outside the

penalty area and rattling the crossbar – with Ahly goalkeeper Mohamed El Shenawy beaten all ends up. Yet the Red Castle had to wait only a few more minutes to claim the lead in spectacular style, as Zouheir El Moutaraji fired home a brilliant strike from long range on the quarter-hour mark to put the Moroccan side in charge.

K.I.O Consult Abuja Inter Schools Athletics Championship Holds June 4 Olawale Ajimotokan in Abuja The coast is now clear for the inaugural Abuja Inter-Secondary Schools Athletics Championship billed for MKO Abiola National Stadium, Abuja on June 4. The event is a boys and girls athletic championship to feature 14 secondary schools in Abuja and open for student athletes who must not be older than 18 years old. The managing partner of KIO Consult, Kesiena Oghoghorie, who is facilitating the championship, said AISSAC is designed to be the breeding ground for Nigerian athletes, along the line of the Jamaica Inter-Secondary Schools Boys and Girls Championship that produced the likes of Usain Bolt and Yohan Blake among others.

Oghoghorie, who was a former captain of University of Kent Athletics team, said the championship will be organised in conjunction with the Athletics Federation of Nigeria will equip the youths with life challenges and develop their personal, interpersonal skills and talents. The championship is to be organised according to World Athletics standard. In addition starting blocks would be provided for student athletes who may want to use, so as to start getting them acquainted with what is obtainable at the global athletics level. The events on the schedule include: 100m, 200m, 400m, 4 x 100m Relay,4 x 400m Relay, 4 x 400m (Mixed Relay), Long Jump and Javlin. Oghoghorie said he is motivated into the project to

address the huge decline in school athletics competition in Nigeria, which has adversely affected the country’s performance at the global level. He said AISSAC is out to rekindle athletics interest in the country as well as keep the youths engaged with a view to deterring them from engaging in social vices. He identified poor funding, late preparation, lackluster coaching, policy inconsistency and arguably the most fundamental, the lack of an active school sports system as one of the reasons for the decline of athletics in Nigeria. “School sports are the bedrock of any sports development programme in any nation. Nigeria, during its glory days of athletics, had a very robust and vibrant school

athletics system. There was, for example, the Empire Day competition in the colonial era, the Grier Cup Competition in the Western Provinces in 1933, the Fisher Shield in the East and the Hussey Shield athletics competition between teams representing the schools in the North and South of Nigeria, among others,” Oghoghorie noted. He said the numerous school athletics competitions at the time contributed, in no small way, to Nigeria’s success at the global athletics level as most of the student athletes who participated at the school competitions eventually went on to compete for the country. He described AISSAC as a new peg of paving the path for re-negotiating the fortune of school athletics in the country.

French Sports Minister Amelie Oudea-Castera has claimed that the crowd trouble ahead of the Champions League final was sparked by the presence of 'thousands' of Liverpool fans who turned up without legitimate tickets. Kick-off was delayed because of significant clashes between supporters and police outside the Stade de France, with Liverpool demanding an independent investigation into the incident after witnesses accused the local authorities of unnecessarily escalating the situation. UEFA put the blame on the presence of Liverpool fans who

turned up with fake tickets or without anything at all, and Oudea-Castera has echoed that sentiment. "What happened, first of all, was this mass gathering of the British supporters of Liverpool, without tickets, or with fake tickets," she told French radio RTL. "Between 30,000 and 40,000 people, it is considerable. "Because the tickets were fake, the turnstiles were blocked and that created a concentration outside the stadium. When you have this mass of people, there are attempts at forcing entry and young people from the neighbourhood tried to rush in."

Lewandowski Conﬁrms Bayern Exit Striker Robert Lewandowski said on Monday that his story with Bayern Munich was over and that he could not imagine staying on with the German champions. "One thing is certain today -- my story with Bayern is over. After everything that has happened in recent months, I cannot imagine further good cooperation," Lewandowski said during a news conference on international duty with Poland. "I realise a transfer will be the best solution for both sides." Bayern sports director Hasan Salihamidzic said earlier this month that Lewandowski

informed the club's boss that he wanted to leave, confirming reports the Bundesliga's secondhighest career scorer could be on his way out despite having a contract until 2023. Barcelona boss Xavi Hernandez said the club are interested in signing Lewandowski and confirmed negotiations had begun. "Yes, Lewandowski is an option," Xavi told a news conference earlier this month. "He has already said he wants to leave, there are negotiations, but he still has a contract at his club. It won't be easy, being Bayern, but it's an option."

Surbiton Trophy: Murray Begins Wimbledon Warm-up with Win over Rodionov Andy Murray began his build-up to Wimbledon with a routine straight-set win over Austria's Jurij Rodionov in the first round of the Surbiton Trophy. Former world number one Murray, 35, triumphed 6-2 6-1 in just 57 minutes. The three-time Grand Slam winner broke Rodionov's serve twice in each set to comfortably beat the world number 125. Murray elected to skip the French Open and instead enter the ATP

Challenger Tour event in London to concentrate on the grass-court season. He had not played since withdrawing from a third-round match with Novak Djokovic because of illness at the Madrid Open at the start of May. But despite a rain delay pushing his match back to late afternoon, Murray, currently ranked 67th in the world, had little trouble despatching Rodionov.

Tuesday, May 31, 2022

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Clark to Nigeria

“I gave about 70 years to the services of Nigeria. A Nigeria where people are dying, nobody cares, a Nigeria where anybody can do whatever he likes, there is no more law and order. A Nigeria where someone who has no means, just because he is a Minister; a party man could bring out N100 million and waste it away wanting to be President of Nigeria. One is very unhappy…” ---South-South Leader, Edwin Clark, decrying the Nigerian situation.

TUESDAY WITH REUBENABATI abati1990@gmail.com

Echoes From Party Primaries N

igeria’s 18 registered political parties have been busy, in recent times, with their primaries, in line with the schedule of activities approved by the Independent National Electoral Commission (INEC), the regulatory and oversight body in charge of general elections in the country. The Commission had set a deadline of June 3 for the completion of all party primaries. This was so until May 27, when INEC announced a six-day extension of the deadline, a development which in no way violates any law, but which nonetheless raised questions of bias and collusion between INEC and the ruling All Progressives Congress Party (APC). The matter is as follows: In the first week of May, the Inter-Party Advisory Council (IPAC), the umbrella body for all the 18 registered parties had pleaded with INEC to extend the deadline for primaries and the submission of names of elected candidates by another 30 or 67 days which would then place the deadline in August, to enable the political parties tidy up their affairs. The parties said they were facing serious constraints. INEC refused. Its excuse was that any extension at all would disrupt the schedule of activities and that the electoral process being time-sensitive was not something the Commission or anyone could toy with. Political parties were further admonished to develop a culture of discipline and respect for rules. Other political parties began the rush to meet the stated deadline. One party, the ruling party was the most laggard of all. It kept changing and adjusting its plans, programmes and activities. As of Thursday, May 26, the party had conducted only its primaries into the House of Representatives, the Houses of Assembly and Gubernatorial positions. It was yet to conduct Senatorial primaries and the screening of the remaining 23 Presidential aspirants that bought its most expensive nomination and declaration of interest forms for N100 million. Some of the original 28 aspirants had chickened out and forfeited their deposits. Meanwhile, the party had eventually announced May 29 and 30. It clearly faced the prospect of conducting a Presidential Primary without screening the aspirants, which was unthinkable. On Friday, INEC announced an extension of the deadline for primaries by six days relevant only to primaries that had not been conducted, and to create room for INEC to train three officials from each party, on how to load names of candidates and their affidavits on the INEC Nomination of Candidates Portal. INEC argued that it was merely using an open window of six days in its schedule of activities. INEC may not have broken any law, but those who are suspicious about its volte face have a point. The case against the Commission is circumstantial but not without value. The extension was announced on the eve of the PDP Presidential Convention after the party was no longer in a position to shift its own programme. So, at what point did it occur to INEC that a six-day extension was possible? This was at a point when the main opposition party could no longer benefit from the extension, and its rival, the ruling APC would have the opportunity of spying on the outcome of the neighbour’s primary. To the extent that INEC is expected to be completely neutral and independent, its decision to shift the goal-post in the middle of the game was ill-advised. Its duty is to create a level playing field, not give unnecessary advantage to any party. It may insist that it remains independent but that is enough -it must be seen to be so. No one should be surprised if this shifting of the goal post, INEC affirming its position one week, and recanting another week, becomes a measurement of its performance. Going forward, INEC must eschew the tendency to vacillate or demonstrate suspicious malleability. In politics, the law is as important as other considerations ex facie curiae- of morality, confidence and trust, and the integrity

INEC Chairman, Mahmood Yakubu of institutions. INEC is perhaps a bit too busy at the moment to pay quality attention to these fine details, busy as it is preparing for off cycle Gubernatorial elections in Ekiti State on June 18, and Osun State on July 16, but those fine details are critical and we have seen quite a few in the primaries conducted so far and their fall-outs. Let us begin with the excessive commercialization, the “obscene monetization” of the Primaries process, to borrow a phrase from Alhaji Mohammed Hayatudeen, who had to withdraw from the PDP primary on that account. Money has always been an issue in Nigerian politics, but the obscenity of money in the 2022 party primaries is unprecedented. Civil society groups had argued for a repeal of the 2010 Electoral Act and a new Electoral Act with an intention to correct many of the direct and indirect ills in Nigeria’s electoral process. One of the lessons we have learnt in recent days in the course of the party primaries, is that not even the new law corrects the problems. The way money - not Naira, but dollars - has been flowing up and down since the party primaries commenced is frightening. Nobody has accused the lesser known political parties, 16 in total, of money politics, maybe it is the scale that is manageable, but in the two major political parties, the process has been dictated by dollar currency. It is now popular opinion that Nigeria is an emerging two-party state, and except something else happens, Nigeria is currently divided between PDP and APC. In-between, in the last two weeks, are the monetized, over-dollarized, party delegates who make a choice on behalf of party members. Who is a party delegate? Under Section 84(8) of the Electoral Act 2022, a party delegate is someone who is duly elected, at the local government level in a democratically organized congress, and who is eligible to participate in the congresses, conventions and meetings of the party under an indirect primary system as defined in Section 84(12) of the Electoral Act, which expressly also prescribes the direct, indirect and consensus modes of holding a party primary. The exclusion of statutory delegates – persons holding public office from the Presidency, to local councilors to party structures and the failure so far of the attempt by the National Assembly to re-integrate them, grants special advantage to delegates who are beneficiaries of that omission. The President having also so far not signed the re-amended Section 84(8), and he has not broken any law in

that regard, means that in the primaries that we have witnessed so far, only elected delegates have been the major players. In one or two states, direct primaries have been adopted, but for the most part, the mode of primaries has been indirect. Getting a consensus has been very difficult, except that where we have seen certain aspirants returned unopposed, without consensus, there have been problems. The adoption of an indirect mode of primary should be noted in terms of the reduction in the number of delegates. The process so far has also been swift and manageable because of the adoption of an indirect system. The inclusion of statutory delegates would have been unwieldy and problematic. It has also meant that the aspirants have had to spend less money. But even then, the quantum of election spend has never been more embarrassing. The extent is demonstrated by some of the melodrama on display. The best job today in Nigeria is to be a delegate at a party primary, at any level. It is a limited, time-specific assignment but it is proving to be a lucrative enterprise. In the absence of statutory delegates, most delegates are at best agents of stakeholders. They are ordinary party members who have no idea what happens within the party and whose assigned task is to vote at a primary, and for them, whatever happens after the event holds no meaning. What is meaningful to them is the fact that they get paid handsomely for the job at hand. A direct primary mode as argued for in places like Ogun (APC), and Sokoto (APC), would have prevented this to some extent, but the indirect primary has meant that the ignorant and unconcerned delegate is the king in the current candidate selection process. He or she is available for sale to every bidder. He or she can choose to collect money from every aspirant and yet choose to vote as the spirit directs. This has created problems in many cases between the sponsor and the agent. In Kaduna North Federal Constituency, for example, Adam Namadi Sambo, son of former Vice President Namadi Sambo, reportedly gave out N2 million each to 38 delegates, and yet he got only two votes and lost. He has since insisted that his money should be returned! In Ondo state, one aspirant Senator, Ondo Central (PDP), Ayo Akinyelure seeking second term, bought vehicles for party leaders. He lost. He has since asked that his cars should be returned. In Oyo State, a serving Senator who gave out money to aspirants lost woefully. He started gasping for breath. He was revived by concerned supporters who took on the task of fanning him with paper and any available object. In Delta, a House of Reps aspirant was so shocked by his loss that he fainted! There have been reports of aspirants who sold houses and other prized possessions only to lose and end up in hospital wards. Most delegates simply obeyed the law of the stomach – man must eat, and danced to the tune of the highest bidder. Someone I know, who took part in the primaries, seeking a Senatorial position, said he had never seen anything so absurd. “It was like an auction process at Sotheby’s”, he said. “The delegates would come to you and ask you to pay a certain amount because your opponent has offered a certain amount. If you play ball, they will leave you alone for a while only to return later to say that a candidate in another party had made a higher offer, and you are expected to add more to your bid. If you again play ball, it would not be long before they would return to ask for more money.” My friend said that at some point, he had to give up. He had not seen anything more bizarre. The delegates were not even asking for inducement in Naira, they preferred US dollars! He concluded that the average delegate was the problem. He or she would have to be transported to the venue of the primary, housed, fed, and paid. The more delegates you could bribe, the better your chances. No wonder there were very loud quarrels over delegates lists in Ogun, Lagos, Rivers

and Ebonyi! However, many aspirants lost their deposits because the delegates got better offers. In Nigerian politics, things get worse, always. It has been recommended that all the delegates who took part in the current primary process should be probed. They have made too much money and are beginning to misbehave, eyeing other people’s women, and disturbing neighbourhoods; some have even bought new cars, and thrown celebratory parties. Their bank accounts should be scrutinized. The aspirants should be probed too. On Saturday, May 28, officials of the Economic and Financial Crimes Commission (EFCC) stormed the MKO Abiola Velodrome - venue of the PDP Presidential Convention in search of suspicious distribution of money to induce delegates. Their velvet vests stood out conspicuously. Many politicians are laughing at their exhibitionism. Who catches a thief by being so physically present? And in any case, election money is not distributed in the open. It is done overnight, long before the event - in hotels, government lodges and other hidden places. What may be admitted, however, is that the presence of the EFCC at the PDP Presidential Convention has sent a strong signal that the current electoral process is corrupt. EFCC should adjust its strategy. It should follow the money electronically. It should target the aspirants before the event, and be more discreet in doing so. We may well have to get to a point whereby aspirants have to declare their assets before obtaining the declaration of interest and nomination forms, and after participating in party primaries. Nobody should also be allowed to use the electoral process for the purposes of corrupt self-enrichment, or fund-raising, simply because the law is silent in that regard. If anything has been proven, it is that the Electoral Act 2022 still needs to be reviewed. There is however no law, no matter how beautifully crafted that Nigerians cannot circumvent. A law serves its purpose only if it is enforced. The party primaries were marred by violence in many states, including Lagos, Ogun, Taraba, and Rivers. Deaths have been reported. In Taraba (PDP), the Governor’s convoy was pelted with stones during the governorship primaries. In Ogun (PDP), and Rivers (APC), there was pandemonium and gunshots as well. In Akwa Ibom (APC), Kano (PDP), and Ogun (PDP), there were parallel primaries. In Rivers (APC), the Magnus Abe faction boycotted the primaries. In Lagos (APC), two governorship aspirants were disqualified. They have since threatened to go to court. In Delta and Sokoto, Gubernatorial aspirants – Festus Keyamo, Cairo Ojougboh in Delta and Abubakar Gada and Balarabe Salame in Sokoto also boycotted the process. In Anambra (PDP), Enugu (PDP), Ebonyi (PDP) and Abia (PDP), there have been defections (Senator Enyinanya Abaribe) and protests - (Sen. Ike Ekweremadu). Whatever anyone thought a new, updated, and improved Electoral framework would bring has been shown to be defective from the start of its implementation. The National Assembly has since regretted its amendment of Section 84 (8) of the Electoral Act, the own goal it scored against itself and traditional, statutory delegates. It is also in court over the controversial Section 84(12) of the Act. The same Governors and Godfathers that the law was meant to keep at bay are ironically the ones dominating the process. The law has not checked money politics. It has also not checked the demons of ethnicity, regional politics, primordial sentiments, godfatherism and clientelism as amply seen in the just concluded PDP Presidential primary in Abuja. Thus, there has been no stronger case made for change and renewal in Nigeria. The entire Nigerian political class is guilty. Where is that saint, with the magic spell, that would save Nigeria? We search in vain for change and progress, especially now that politicians are even trying to create dynasties for their children from Oyo to Jigawa. And who says the chosen aspirants would be good for Nigeria?

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