MONDAY 13TH JUNE 2022 by THISDAY Newspapers Ltd

Goldman Sachs Forecasts Oil Prices to Surge to Nearly $140 in Weeks National power grid collapses again as Discos apologise

Emmanuel Addeh in Abuja Consumers desperate for relief from the scourge of sky-high petrol prices won’t get it soon, if the latest forecast from Goldman Sachs commodity analysts is anything

to go by. In an update to their outlook for oil prices over the next 12-18 months, the team at Goldman warned that they now expect oil prices, measured by the Brent crude international benchmark

to rise to nearly $140 a barrel as early as the next few weeks. The prediction came just as the national electricity grid in Nigeria collapsed again yesterday, even as a handful of power Distribution Companies (Discos) apologised

to the customers in their various franchise areas. The price of oil and gas has already surged more than 50 per cent so far this year, driving up the average price of goods and services and causing inflation in

many parts of the world. In Nigeria for instance, the price of cooking gas also known as Liquefied Petroleum Gas (LPG) has soared by over 100 per cent in the last one year while the prices of diesel, jet fuel and kerosene

have skyrocketed, increasing by as much as 200 per cent in some cases. But for petrol, Nigeria has continued to subsidise the product, Continued on page 5

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Osinbajo, Others to Nigerians on June 12: Use Democracy to Strengthen National Unity Deji Elumoye, Chuks Okocha, Udora Orizu in Abuja, George Okoh in Makurdi, David-Chyddy Eleke in Awka, Segun Awofadeji in Gombe, James Sowole in Abeokuta, Adibe Emenyonu in Benin City, Fidelis David in Akure and Oluchi Chibuzor Vice-President Yemi Osinbajo, has

charged Nigerians to embrace democracy with a view to strengthening national unity and building social cohesion. Osinbajo, who spoke yesterday at the Church Service to mark this year’s Democracy Day, in Abuja, declared that, “democracy works because the values of justice, equality, fairness and inclusion,

which underpin democratic governance, are also at the heart of our Christian faith” According to him, “Democracy works, all the more so in a heterogeneous union like ours, through negotiations and compromises carried out in good faith. And each year brings us closer to a more perfect union, a

more mature democracy. The Vice President, who was represented by the Secretary to the Government of the Federation (SGF), Boss Mustapha, said, the commemoration provided “opportunity to reflect on how far we have come as a people. It invites sobriety and gratitude. “It allows us to remember

the decades characterised by a lack of freedom, suspicion and uncertainty, and calls to mind the prayers, faith and courageous actions that brought us to a turning point in 1999, one accompanied by hope and promise." Quoting copiously from the Holy Bible, the vice-president

recalled how in Deuteronomy Chapter 16, “God commanded the people through Moses to “Observe the month of Abib, and keep the Passover to the LORD your God, for in the month of Abib the LORD your God brought you out of Egypt Continued on page 6

On Your Marks… Here are the 17 Finalists See story on page 5

Christopher Imumolen (Accord)

Hamza Al Mustapha (AA)

Yabagi Sani (ADP)

Omoyele Sowore (AAC)

Dumebi Kachikwu (ADC)

Asiwaju Bola Ahmed Tinubu (APC)

Peter Umeadi (APGA)

Yusuf Mamman Dantalle (APM)

Peter Obi (LP)

Okwudili Nwa-Anyajike (NRM)

EngrRabiuMusaKwankwasoPhD (NNPP)

Alhaji Atiku Abubakar (PDP)

Kola Abiola (PRP)

Adewole Adebayo (SDP)

Prince Malik Ado-Ibrahim (YPP)

Chief Dan Nwanyanwu (ZLP)

Nigeria Too Deeply Troubled to Be Handed over to Tinubu, Says Ex-PDP Legal Adviser... Page 12

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Election Campaign: Analyst Warns on Impending Credit Crunch, Heightened Inﬂation Dike Onwuamaeze The Centre for the Promotion of Private Enterprise (CPPE) has warned that heightened political activities in the country as the 2023 general elections draw near would have adverse effect on the level of deposits in the banking system and banks’ ability to lend to the private sector. The CPPE, in a statement titled: “Heightened Electioneering Activities: Implications for the Economy,” also said Nigeria might witness accelerate inflationary pressure due to increased liquidity injection into the economy by politicians to execute election

campaign. The statement, which was signed by the Founder and Chief Executive Officer of CPPE, Dr. Muda Yusuf added: “The electioneering and political activities have implications for the level of bank deposits. With the increase in political spending, the banking system is likely to witness considerable withdrawals by the political actors to fund the elections; most of these would be in cash. “This may have an adverse effect on the level of deposits in the banking system and negatively impact on financial intermediation. “There is also implication for credit risk in the financial system. As the tempo of political activities

increase, credit risk to players in the economy becomes heightened, particularly for long term projects because of the growing uncertainty and elevated political risk. Therefore, the economy is likely to witness a deceleration in the credit growth outlook to the private sector.” Yusuf added that the, “economy is witnessing a flurry of cash, in domestic and foreign currency. Cash within the banking system have been significantly depleted in the past one month and trend is likely to continue till 2023. The economy is awash with cash which has implications for liquidity, for aggregate demand and surge in price level.

“Electioneering season unleashes liquidity on the economy arising from a surge in spending, both by the political actors and the electoral body. The economy is already witnessing a significant injection of liquidity to fund electioneering activities by the preparations for the elections. Liquidity surge has inflationary implications.” He also added that the prevailing electioneering mood in the country would affect investments decision in the Nigerin economy as, “the focus of many investors at this time will be short term in order to manage the risk inherent in the uncertainty arising from the electioneering processes and the

impending political transition.” “For investors the level of uncertainty is generally higher in a season like this. It is much more difficult to plan for a long-term horizon because of the elevated political risk in the economy. “Many important business decisions have been put on hold, especially for long term projects. The effect is that the economy suffers as a result of these delayed decisions. This could further dip the growth outlook,” the statement added. Yusuf, who is also the immediate past director general of the Lagos Chamber of Commerce and Industry, pointed out that major economic reform initiatives of the government

would be practically stalled because their perceived political cost would lure the government to jettison them for populist policies at a heavy cost to the economy. “With a weak fiscal space, this would increase the fiscal deficit and plunge the country deeper into a troubled debt situation. “There is a high probability that the apparatus and resources of state are being deployed for electioneering activities by political appointees and elected officials. The opportunity costs of such misappropriation for the citizens are very high, especially in the light of the weak fiscal position of governments at all levels.”

was arrested and tortured. Sowore was also involved in the anti-military protests that followed the annulment of the June 12, 1993 presidential election, which the late Moshood Abiola was poised to win. He was again arrested by the DSS on August 3, 2019, ahead of a planned nationwide #RevolutionNow protest. On September 24, 2019, Sowore was granted bail by the Federal High Court, Abuja. On September 29, 2019, Sowore made his first appearance in the media since his detention. The court again set Sowore free on December 5, 2019, confirming that he had settled his bail terms. On February 25, 2018, Sowore announced his intention to run for president in the 2019 general election. In August 2018, he founded a political party, the African Action Congress (AAC), under which he contested the election.

1994. He returned to Nigeria after Abacha's death in 1998, during the political activities for the transition to the Fourth Republic. He was Governor of Lagos State from 1999 to 2007 and Senator for Lagos West during the botched Third Republic. In 2014, Tinubu supported former military Head of State, General Muhammadu Buhari, leader of the Congress for Progressive Change (CPC) leg of the APC, and in 2015, Buhari drove the APC to victory, ending the 16 years rule of the PDP, and marking the first time in the history of Nigeria that an incumbent president lost to an opposition candidate. In January 2022, Tinubu announced his intention to run for president under APC ahead of the 2023 presidential election, and in June 2022, he was chosen as the APC presidential candidate.

candidate of the Boot Party (BP). Although a businessman from Ogun State, he had very little media presence, and he may not pose any serious challenge.

of the House of Representatives, representing Madobi Federal Constituency. During the 1995 Constitutional Conference, Kwankwaso was elected one of the delegates from Kano, as a member of the Peoples Democratic Movement, led by the late Shehu Yar'adua. He later joined the Democratic Party of Nigeria (DPN) in the political transition programme of General Sani Abacha. Kwankwaso joined the PDP in 1998, under the platform of Peoples Democratic Movement. In 1999, he contested the PDP primaries alongside Abdullahi Umar Ganduje, Mukthari Zimit, Alhaji Kabiru Rabiu. He was governor of Kano State from May 29, 1999 to May 29, 2003. He was elected again in 2011. In August 2013, Kwankwaso was among seven serving governors, who formed the G-7 faction within the Peoples Democratic Party (PDP). In November 2013, he, alongside five members of the G-7, defected to the All Progressives Congress (APC). In October 2014, Kwankwaso contested the APC presidential primaries, where he came second. In July 2018, Kwankwaso alongside 14 serving senators of the APC, defected to PDP. In October 2018, he contested the PDP presidential ticket and lost to Atiku Abubakar. But on February 22, 2022, he set up a national movement against the two major political parties and co-opted the New Nigeria Peoples Party as the political wing of the movement. He first became the national leader of the party on March 30, 2022, and subsequently emerged its presidential candidate.

ON YOUR MARKS… HERE ARE THE 17 FINALISTS Adedayo Akinwale Seventeen of the 18 registered political parties have elected their candidates for next year’s presidential election. One party, Action Peoples Party (APP), will not present a presidential candidate for the poll, as the time given by the Independent National Electoral Commission (INEC) for political parties to conclude their primaries elapsed on June 9. With the emergence of the presidential candidates for the February 2023 general election, the next stage is the choice of their running mates to make up complete tickets, as provided by the constitution. While the politicking for vice presidential candidates goes on, we familiarise Nigerians with the men, who want to lead the country, perhaps, to help the citizens in their choice of preferred candidates. THISDAY presents the 17 men, who seek to succeed President Muhammadu Buhari in 2023.

Christopher Imumolen (AP)

Professor Christopher Imumolen is the presidential candidate of Accord Party (AP). An educationist and entrepreneur, Imumolen holds two doctorates in Engineering Research and Educational Management, in addition to three Master's and Bachelor's degrees in Mechanical Engineering. An indigene of Esan West, Ekpoma, in Edo State, Imumolen started his career as a Plant Engineer at BOC Gases Nigeria Plc in February 2005. In 2009, he established the Joint Professional Training and Support International Limited (JPTS), an educational body that has trained over 30,000 certified professionals. He established the UNIC Foundation in January 2014, as an empowerment and employment scheme that envisions the goal of supporting four million Nigerian businesses every year with grants, and granting reliefs and scholarships to widows and students. The president of Onshore Offshore Oil and Gas Professionals has served as Senior Technical Adviser to the Akwa-Ibom State government on oil and gas matters, and Technical Safety Consultant to NAPECO Kuwait. He is the founder of Global Wealth System, a business network system, with over 450,000 membership, set up to empower entrepreneurs globally. Imumolen said he joined the 2023 presidential race because he believed Nigeria needed a new kind of leadership, since things were not working because there was a leadership gap.

Hamza Al Mustapha (AA)

Maj. Hamza Al-Mustapha was Chief Security Officer to the late Head of State, Gen. Sani Abacha. Al-Mustapha was trained as a military intelligence operative and held various command posts in the Ministry of Internal Affairs; Security Group of the Directorate of Military Intelligence (SG-DMI), 82 Division; Army Headquarters; Ministry of Defence; and the Presidency. He was also involved

in counter-intelligence activities and at least, two investigations of coup attempts, which brought him to the attention of Abacha. He conducted operations in Chad, Liberia, Bakassi, Gambia, and Sierra Leone. Al-Mustapha oversaw the reorganisation of the entire territory of Nigeria into six geopolitical zones. In this, he cultivated a vast network of spies and informants across the federation. He was removed from office and subsequently arrested after the death of Abacha in 1998. On 21 December 2010, Al-Mustapha and his co-defendants were acquitted of most of the charges against them, but they were not cleared of the alleged murder of Kudirat Abiola. On January 30, 2012, the Lagos High Court found Al-Mustapha guilty of the murder and he was sentenced to death by hanging. However, on July 12, 2013, the Court of Appeal in Lagos overturned the high court judgement and acquitted Al-Mustapha of all the murder charges. In 2017, Al-Mustapha joined partisan politics and founded the Green Party of Nigeria (GPN). He emerged the presidential candidate of the Peoples Party of Nigeria (PPN) during the 2019 general election.

Yabagi Sani (ADP)

The presidential candidate of Action Democratic Party (ADP), Yabagi Sani, is also the chairman of the Inter-party Advisory Committee (IPAC) and National Chairman of the party. He started his career as an administrative officer-depot chief at the Petroleum Products Marketing Company (PPMC) depot, Kano, under Nigerian National Petroleum Corporation (NNPC) in 1980. Sani joined politics in 1991, when he was founding member of All Nigeria Peoples Party (ANPP), and member, Board of Trustees of the party. In 1999, Sani was the candidate of APP in the Niger State governorship election. He was the financial secretary of the then Nigeria Liberal Convention (NLC/NRC), and also North-central presidential coordinator of the Alhaji Bashir Tofa campaign in 1993. Sani was the presidential candidate of Action Democratic Party in the 2019 general election. He began his early education at East School, Bida, in 1961, and went to Technical College, Kontagora, in 1970. He graduated from Harvard University and Institute of Technology, New York, in 1976. He graduated from Columbia University, New York, in 1978 with B.Sc in management engineering.

Omoyele Sowore (AAC)

The publisher of Sahara Reporters, Omoyele Sowore, is the presidential candidate of the African Action Congress (AAC) in the 2023 elections. An activist, Sowore took part in students’ demonstrations against the conditionalities of an International Monetary Fund (IMF) loan of $120 million for use in a Nigerian oil pipeline in 1989. He also led 5,100 students in protest against the Nigerian government in 1992. The protest resulted in the shooting and killing of seven protesters by the Nigeria Police. He

Peter Umeadi (APGA)

Dumebi Kachikwu, younger brother to former Minister of State for Petroleum Resources, Ibe Kachikwu, caused a major upset, when he won the presidential ticket of African Democratic Congress (ADC), against Prof. Kingsley Moghalu, who many had believed would win the party’s presidential ticket. Kachikwu joined ADC in October 202. Kachikwu is the founder and Chairman, Roots Television, Nigeria. He was born on December 20, 1970. He promised to initiate wide-ranging public service reforms to eliminate corruption and win the war against terrorism if elected.

Former Chief Judge of Anambra State, and presidential candidate of the All Progressives Grand Alliance (APGA), Justice Peter Umeadi (rtd), will test his might against other political juggernauts in the 2023 general election. Umeadi retired as chief judge on March 1, 2019, and subsequently joined the party in his ward in the Aniocha area of Anambra State. Umeadi was unopposed in the primary, as his candidacy was affirmed by 150 delegates at a special convention of the party in the Katampe area of Abuja. In April, while canvassing for the ticket of APGA, Umeadi described himself as the best candidate to win the 2023 presidential election for the party.

Asiwaju Bola Ahmed Tinubu (APC)

Yusuf Mamman Dantalle (APM)

Dumebi Kachikwu (ADC)

Bola Tinubu, an accountant and politician, is national leader of the All Progressives Congress (APC), which was formed in 2013. Tinubu studied accounting in the United States before working abroad for several years. He returned to Nigeria in the mid-1980s and continued working in financial management before entering politics. In 1992, he was the Lagos West senatorial candidate of the Social Democratic Party (SDP). After Abacha’s dissolution of the Senate in 1993, Tinubu became an activist, campaigning for return to democracy under the National Democratic Coalition (NADECO). Tinubu was forced into exile in

The presidential candidate of Allied Peoples Movement (APM), Yusuf Mamman Dantalle, emerged without a contest. Dantalle, who was the national chairman of the party, was the sole presidential aspirant during the party’s presidential primary. In March 2022, a faction of the National Working Committee (NWC)of the party had suspended Dantalle, and the national secretary, Mr. Oyedeji Adebayo, over alleged misconduct. Dantalle described the suspension as being of no effect.

Sunday Adenuga (BP)

Not much is known about Mr Sunday Adenuga, the presidential

Peter Obi (LP)

Politician and businessman, Mr. Peter Obi was the vice presidential candidate of the Peoples Democratic Party (PDP) in the 2019 general election. He was governor of Anambra State from March 17, 2006 to November 2, 2006, before he was impeached. Obi returned to office from February 9, 2007 to May 29, 2007 after the court overturned his impeachment. Although a fresh election was held on April 29, 2007, Obi was reappointed governor on June 14, 2007, after a court ruled that he should be allowed to complete his four-year term. He was re-elected for a second-term during the February 6, 2010 governorship election. Obi wrote to the leadership of PDP on May 24, resigning his membership of the party, and subsequently joined the Labour Party, where he won the presidential ticket. He attended Christ the King College, Onitsha, where he completed his secondary education, and was admitted into the University of Nigeria, Nsukka, in 1980. Obi graduated with a B.A (Hons) in Philosophy in 1984, and went to the Lagos Business School, Nigeria, where he did his Chief Executive Programme. He was also at the Harvard Business School, Cambridge, USA, where he did two programmes. Obi attended the London School of Economics, and Columbia Southwest School, New York, USA, among others.

Okwudili Nwa-Anyajike (NRM)

The presidential candidate of the National Rescue Movement (NRM), Okwudili Nwa-Anyajike, is a relatively unknown fellow, but has been gaining some conscious media exposure. He said during a recent media interview that he had an agenda that would return the country to the path of progress.

Rabiu Musa Kwankwaso (NNPP)

Rabi'u Musa Kwankwaso made his entry into politics on the platform of the Social Democratic Party (SDP), as a member of the Peoples Front faction of the party. In 1992, Kwankwaso was elected a member

Alhaji Atiku Abubakar (PDP)

Since his entry into politics in 1989, Atiku Abubakar has unsuccessfully contested the office of President of Nigeria five times: 1993, 2007, 2011, 2015 and 2019. In 1993, he contested the Social Democratic Party (SDP) presidential ticket, losing to Moshood Abiola and Baba Gana Kingibe. He was a presidential candidate of the Action Congress in 2007, when he came third to Umaru Yar'Adua of the PDP and Muhammadu Buhari of the ANPP. Atiku contested in the presidential primaries of PDP during the 2011 presidential election, but lost to then President Goodluck Jonathan. In 2014, he joined the APC ahead Continued on page 10

GOLDMAN SACHS FORECASTS OIL PRICES TO SURGE TO NEARLY $140 IN WEEKS which generally still sells for 165 per litre nationwide, although it could more than double that price without the payment of what the government terms under-recovery. This year alone, the federal government is paying roughly 25 per cent of the entire year’s budget on subsidies after it deferred its removal by about 18 months, citing its expected negative impact on the poor as the reason. Despite the growing international price of oil, Nigeria has been unable to take advantage because it’s not able to produce the quota allocated to it by the Organisation of Petroleum Exporting Countries (OPEC).

In addition, the country does not refine a drop of the products it consumes and therefore spends its scarce foreign exchange to import the products amid a weakening dollar/naira environment. Other countries of the world also affected negatively by the soaring fuel prices include the United States, for instance, which has now hit a record of nearly $5 a gallon as oil futures for both Brent and WTI crude were trading near $120 a barrel at the end of the week. Although the longest global oil supply deficit on record ended in April after nearly two years, the Goldman team said it expects a

resurgence in Chinese demand will more than offset the surprising durability of Russian crude exports. “Oil’s structural deficit therefore remains unresolved, with in fact an even tighter oil market through April than we had expected. Supply remains inelastic to higher prices,” the Goldman team wrote. Major oil producers have limited capacity to ramp production further in the near term and those that do have the spare capacity will likely be hesitant to fully use it due to a lack of exemptions from OPEC+ drilling quotas, the Goldman Sachs group said. While OPEC+ agreed during its June meeting to boost production,

members’ ability to aggressively accelerate drilling faces several challenges. One is that drilling activity has languished at half of its level from the first quarter of 2020 for the past 18 months, and any surge in production would likely take months to implement. Another is the lack of an exemption for Russia from its OPEC+ quota at the June meeting. According to the Goldman team, this would suggest that the few OPEC+ members who have capacity to spare won’t be allowed to compensate for the looming jump in demand from China.

T H I S D AY • MONDAY, JUNE 13, 2022

NEWS OSINBAJO, OTHERS TO NIGERIANS ON JUNE 12: USE DEMOCRACY TO STRENGTHEN NATIONAL UNITY by night.” “In Esther 9:20-22, following the great deliverance of the Jews from the devious plots of Haman, it says: ‘Mordecai recorded these events, and he sent letters to all the Jews throughout the provinces of King Xerxes, near and far, to have them celebrate annually the fourteenth and fifteenth days of the month of Adar as the time when the Jews got relief from their enemies, and as the month when their sorrow was turned into joy and their mourning into a day of celebration. “And so in celebrating our Democracy Day, in-line with biblical and historical traditions, we assure ourselves that the hands of God are never too short to deliver and that His grace will always prevail for our good. Equally important, is that we also assure ourselves, that no matter how challenging the situation or moment might be, there is always enough God-given strength within us, as a people, to surmount them".

Ortom Urges Nigerians to Rise against Antidemocratic Forces Benue State Governor, Samuel Ortom has urged Nigerians to be on the alert against anti-democratic forces, saying, “We must guard our democracy jealously." According to him, “By deliberate efforts and design, Nigerians opted for the presidential system of democracy, because it is participatory and representative enough. It is a way of life that must be held sacrosanct." In his goodwill message to Nigerians to commemorate the June 12 struggle, Ortom recalled the tortuous journey to democratic rule and urged Nigerians to rise up to say, “Never again shall we allow undemocratic forces take control of our collective destiny." The governor, however, advocated the need to strengthen democratic institutions in the country “so that the practice of democracy should not be at the dictates or the whims and caprices of a few individuals, who think they will lord it over the general public but the wishes of the people."

Yahaya Tasks Citizens on Active Participation in Electoral Process, Governance Gombe State Governor, Muhammadu Inuwa Yahaya, has enjoined the people of the state to continue to play their role in deepening democracy by actively participating in the electoral process, which he noted has improved over the years. In a goodwill message, to mark the June 12 Democracy Day, which was issued by the Director-General (Press Affairs), Government House, Ismaila Uba Misilli, the governor noted that democracy has come to stay in the country, and called on the people of the state to get involved and remain steadfast as major stakeholders in the process of governance. He also noted with delight the successful conduct of party congresses and primaries, calling on the people of the state to exhibit same maturity as the 2023 electioneering begins soon. While urging the citizenry to take advantage of the opportunity of the continuous voters’ registration, especially, those just attaining voting age or those that had not registered previously, to obtain their PVCs, he said it would make them to be eligible to exercise their rights and contribute to nation-building.

Diri: Leaders Must Be Servants Bayelsa State Governor, Senator Douye Diri, has said the essence of democracy would be lost if leaders failed to be servants to the people. Diri made the remark

yesterday while speaking at a non-denominational Democracy Day service at the King of Glory Chapel, Government House, Yenagoa. The governor charged those occupying elective and appointive offices to see themselves as servants while the people that gave them the mandate as their masters to whom they were accountable. A press release by his Chief Press Secretary, Mr Daniel Alabrah, quoted the governor as saying that elected or appointed officials should regard such positions of authority as a privilege and a platform to better the lot of the people. “Today being Democracy Day, we should all be reminded to continue to give service to our people. If you have been elected or appointed into key government offices and positions, you should note that It is only but a privilege. "In all our actions, we should know that those who have given us the mandate to serve them are our masters and we are their servants. If you make yourselves a demi-god, you are only deceiving yourselves," he said.

Soludo: Democracy is Struggle for Better Society Governor of Anambra State, Prof. Chukwuma Soludo, has described democracy as a continuous struggle for better society. Soludo, who spoke during a special mass at the Anambra Governor's Lodge in Amawbia, in celebration of Democracy Day, stated that it was not only so in Nigeria, but all over the world, as democracy was the only form of government that could guarantee a better society. Soludo said: "Nation building is a consequence of struggle for class, both social and otherwise, and values such as focus, determination and perseverance are indispensable in this kind of struggle. There is no perfect society anywhere in the world, however, contestations and contradictions bring out the best in the society. "Today, as Nigeria celebrates Democracy Day, the sacrifices by the late MKO Abiola and others, in the course of the struggle that gave rise to the Democracy Day celebration will not be taken for granted." The governor said for Anambra, democracy would remain a struggle to build a livable and prosperous homeland, where every one would feel safe in, noting that everybody had very fundamental role to play in bringing it to fruition.

Zulum: Defying Boko Haram for 13 Years Makes Northeast Hero of 23-Year Democracy People of the northeast, particularly, those in Borno State, have spent more than half of Nigeria’s 23 years of uninterrupted democracy, showing “incredible resilience” against vicious attempts by Boko Haram insurgents to undermine democratic institutions, Governor Babagana Umara Zulum said yesterday. Zulum, who is Chairman of the Northeast Governors’ Forum, conveyed these in his Democracy Day message, made public by his spokesman, Malam Isa Gusau, where he described the people of Borno State and rest of the northeast as deserving of being amongst heroes of Nigeria’s 23 years of sustained democracy. “It is now 23 uninterrupted years since Nigeria returned to democratic rule back in 1999. In those 23 years, societies across the country have witnessed different levels of progress and challenges. “In those 23 years, the people of Borno State and other parts of the northeast, have since July 2009, ceaselessly resisted groups of extremely violent insurgents with the determination to wreck massive havoc on communities, pursuing the ultimate objective of bringing

down democratic institutions in Nigeria, and replacing them with violent sovereign doctrines. “In these 13 years, countless number of these citizens as members of ‘Civilian JTF, hunters and vigilantes, have made sacrifices including giving their lives at battle fronts, to protect fellow citizens and to preserve our nation’s sovereignty and democracy. These fallen volunteers alongside those currently in front lines and all citizens of the northeast eminently qualify to be named amongst the heroes of Nigeria’s 23 years of uninterrupted democracy.”

Owie: Those Who Annulled June 12 Election Acted in Bad Fate Former Senate Chief Whip, Senator Roland Owie, has said members of the Military Council, that ordered the annulment of June 12, 1993 Presidential election, were under the control of evil spirit. Owie, who made the declaration in a statement yesterday, in Benin City, Edo State, stated that, "The annulment was to tell the world that those who are evil won't go unpunished. Whatever we sow, we will reap. Therefore, celebrating June 12, is the celebration of ‘retributive justice’. "Beloved, whatever we do in this world we should always remember that there is God! There is Heaven!! There is Hell!!! June 12 Election was a retributive event on the wicked, for The word of God says: "Evil shall slay the wicked: And they that hate the righteous shall be desolate" (Ps.34.v.21).” He added that June 12, 1993, was an event with which The Almighty God showed that all powers belonged to Him. “That event showed that God heard the prayers of our great leaders, amongst whom are, late Chief Obafemi Awolowo, Alhaji Shehu Shagari, Alhaji Adamu Ciroma, Gen. Shehu Musa Yaradua, and millions of Nigerians, who were betrayed at various times by the principal actors and their collaborators, who were to be the major beneficiaries of the success of that election of JUNE.12".

Abiodun Reverses Death Sentence on Six Convicts, Frees 40 Inmates As part of activities commemorating the 2023 Democracy Day, Ogun State Governor, Dapo Abiodun, has approved the committal of six convicts on death row to life imprisonment and also released 40 inmates. The governor made the pronouncement yesterday while speaking at the June 12 Commemorative Anniversary and Nigeria's Democracy Day, held at the M.K.O International Stadium, Abeokuta, Ogun State capital. He explained that the committal to life imprisonment and release of the convicted inmates was in accordance with the provisions of Sections 212 (1) and (2) of the Constitution of the Federal Republic of Nigeria, 1999, (as amended) and Sections 4 and 5 of the Ogun State Advisory Council on Prerogative of Mercy (Establishment Law), Laws of Ogun State 2006. Abiodun, who called on Nigerians to draw strength from the 1993 general election and make the 2023 exercise even better, equally advocated stringent punishment for violators of due process in elections, declaring that people’s ballots must count and be respected in 2023. The governor noted that the struggles of June 12 as orchestrated by late MKO Abiola, gave birth to the seamless democracy Nigeria has enjoyed in the last 23 years, emphasising that "only by upholding the tenets of democracy and ensuring its sustainability that

we can truly honour the memory of those ideals that Chief MKO Abiola and others stood and died for."

Sanwo-Olu: We Must Join Hands to Build the Future We Want Lagos State Governor, Babajide Sanwo-Olu, has said the commemoration of another June 12 occasion must come with a deep reflection of the progress recorded so far in the nation’s democratic experiment, while joining efforts to correct the imperfections yet to be addressed to make the system of government worthwhile. The governor, in a statement to mark Democracy Day yesterday, said June 12 remained a rallying symbol around which Nigerians’ aspirations for unity, hope, better condition of living and true democratic practices were built, including the hope of creating a better country. Sanwo-Olu said such hopes must be rekindled by the sacrifices made by past political actors that laid down their lives, especially, the late Chief Moshood Abiola, who paid supreme price. “The challenge before all of us today, as Lagosians and Nigerians, is that June 12 must become a symbol of unity, of hope, of aspiration for a better tomorrow, one built upon true democratic ideals and practices. The Democracy Day must be a reminder of the importance of joining hands to build the future we want. Twenty-nine years ago on this day, Nigerians trooped enthusiastically to the polls, defying stereotypes of ethnicity and religion to prove to ourselves and the world that a new Nigeria is possible. “Regrettably, the powers-that-be at the time truncated that dream. But it was merely a delay, not a denial. We have since been blessed with a new opportunity to build on the hope and the potential of June 12, 1993. That responsibility is now in our hands, and posterity will not forgive us if we squander it. We have seen our democracy at work. It is not perfect, but no democracy is. There are still gaps to be closed, and processes to be improved upon, but there is no doubt that the journey we started over two decades ago is fully on course and maturing.”

Get Your PVCs, Saraki Tells Nigerians Former President of the Senate, Dr. Abubakar Bukola Saraki, has called on Nigerians across the nation to get their Permanent Voter Cards (PVCs) ahead of the 2023 general election. In a statement by his Media Office in Abuja in commemoration of Democracy Day, Saraki, acknowledged the sacrifice of Nigeria’s past heroes, who have contributed to the development of the nation’s democracy, and called on all Nigerians of voting age to ensure that they exercise their civic duty by voting next year. “As families across Nigeria settle in to commemorate the significance of #DemocracyDay, we all must remember the immeasurable sacrifice of our heroes, as well as celebrate the courage, and persistence of all Nigerians. “This is because, throughout this oft-imperfect journey to institutionalise stronger democratic values in all aspects of our lives, there have been hiccups, yet, Nigerians have always demonstrated an unwavering commitment to forge a better, stronger, safer, and more prosperous nation. “In this regard, as we observe today, remembering that the 2023 general election is just around the corner, I ask all Nigerians of voting age to ensure that they have their PVCs to exercise their civic responsibility by participating in the election of our leaders at the state and federal levels.”

Akeredolu: Democratic Values Must be Deepened, Canvasses Restructuring Ondo State Governor, Mr Oluwarotimi Akeredolu (SAN), has identified restructuring as the only panacea for the array of challenges confronting the nation, particularly, insecurity. The governor, in his June 12 message yesterday by his Chief Press Secretary, Richard Olatunde, said it was time to deepen the democratic values that the Democracy Day represented. “Although we are still mourning, we will not forget to join our voices to address the fundamental issues that have remained a clog in the wheel of the country’s progress. This day represents a watershed in the history of democracy in our country. It also symbolises a total rebirth of hope and aspiration. It reinforces not just an enduring hope, but resilience in the face of daunting challenges. “Today, we must make efforts to ensure that the reason for this day is not defeated. Our focus must shift primarily to the people. We must identify the challenges confronting the nation and be prepared to tackle them for the overall benefit of Nigerians. “No doubt, our country is going through hard times. The issue of insecurity requires our collective efforts. We must renew our commitment to the protection of lives and property. Our country must explore all angles aimed at securing our space against these divisive elements bent on setting the country on the path of conflagration," Akeredolu said.

House Minority Caucus Tasks Buhari on Credible Polls in 2023 The Minority Caucus in the House of Representatives, has called on President Muhammadu Buhari to take very firm steps to put in place all necessary arrangements that will guarantee free, fair, credible and transparent general election in 2023. The caucus, in a statement by its leader, Hon. Ndudi Elumelu, extolled the courage, selflessness and patriotism of Chief MKO Abiola, who made immense sacrifices and paid the supreme price for the entrenchment of democracy in the country. They stressed that the federal government must use the occasion of the June 12 Democracy Day to commit to processes that would check electoral manipulations, guarantee the security of voters and ensure that only votes cast by Nigerians in their respective polling units counted at the end of the elections. The lawmakers also urged leaders at all levels to uphold this legacy by carrying out their responsibilities in line with the demands of justice, equity, fairness and adherence to rules.

Don’t Despair, APC Will Soon Be History, PDP Urges Nigerians The Peoples Democratic Party (PDP), yesterday, urged Nigerians to use the occasion of the June 12 Democracy Day to reaffirm their determination to vote out the anti-democratic, inhumane, lawless and rudderless All Progressives Congress (APC) in the 2023 general election. The party also called on President Muhammadu Buhari to go beyond his usual rhetoric and take practical steps to guarantee the conduct of free, fair and transparent elections in 2023. The PDP, in a statement by its National Publicity Secretary, Debo Ologunagba, reminded President Buhari that Nigerians were more than ever before, determined to

fully entrench the democratic demands of credible elections, which was at the core of the Democracy Day celebration. "June 12 embodies the struggle by Nigerians against corrupt, suppressive and dictatorial forces, against lawless, insensitive, antipeople and terrorism-promoting regime, against injustice, highhandedness, recklessness and incurable impunity, all which the APC has come to represent. "It is unpardonable that the APC administration has arrogantly continued to violate and trample on the substance, value and quintessence of June 12 Democracy Day; the democratic principles of Constitutional Order, freedom, justice, fairness and equity as well as the much-desired national cohesion and tolerance which Chief MKO Abiola personified and died for." The opposition party therefore called on the APC to stop testing the will of Nigerians with its continued abuse of process, violation of human rights, nepotism, electoral manipulations, stifling of freedom of speech, promotion of violence; the very pattern of the dark era of military dictatorship in our country, which Chief MKO Abiola fought against.

Uzodimma: June 12 Resonates Our Collective Struggle, Resilience to Enthrone Democracy Imo State Governor, Hope Uzodimma, has congratulated Nigerians for keeping faith with democracy with June 12, noting that the day resonated the collective struggle and resilience of the people to enthrone and sustain democracy. In his goodwill message, yesterday, he said one of the major takeaways about the Day is that the will of the people in a democracy was supreme and could not be underestimated. He said the fact that Nigeria had experienced 23 years of uninterrupted civil rule spoke to the collective desire of the people to sustain democracy and congratulated them for the sacrifices they made to enthrone democracy. He, however, challenged Nigerians to search their consciences whether, by their behaviour, they have truly internalised the spirit of June 12, even as he reiterated his resolve to sincerely serve the people of Imo State by providing services that would enhance their wellbeing, using his 3-R mantra of rehabilitation, reconstruction and recovery.

Group Tasks Religious Leaders to Egg-on Members to Collect PVCs The Pray Nigeria Movement (PNM), has called on religious leaders across the country to encourage their members to go and collect their Permanent Voter Cards (PVCs). But as the race to succeed President Muhammadu Buhari gathers momentum, it spoke of the need for Nigerians to seek spiritual insight as to who becomes the next President at the forthcoming general election. Speaking at a press conference in Lagos, recently, PNM convener, Prophet Isaiah Wealth, said Nigerians must pray for their country always, adding that, their forthcoming June 12 Fast programme, was a vision for the movement to pray for the emergence of a good leader that would usher the country into a new dawn. “The Pray Nigeria Movement is not a political organisation, and it has no political motivation or affiliation. PNM was born out of the passion to bring Nigeria to its destiny apart from political means.”

MONDAY JUNE 13, 2022 • T H I S D AY

T H I S D AY • MONDAY, JUNE 13, 2022

NEWS

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

DEMOCRACY DAY IN MKO'S HOME STATE... L-R: Former governor of Ogun State, Otunba Gbenga Daniel; Governor Dapo Abiodun; his deputy, Engr. Noimot Salako-Oyedele and younger brother of the matyr of June 12 struggle, Alhaji Tajudeen Abiola, during the celebration of this year's Democracy Day at the MKO Abiola Stadium, Abeokuta...yesterday

2023: SERAP Asks Atiku, Tinubu, Obi, Others to Publish Assets, Reject Vote-buying Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to all the presidential candidates ahead of the February 2023 presidential election, urging them to publish details of their assets and liabilities. It also urged the presidential candidates to publicly commit to rejecting vote-buying and electoral bribery before and

during the elections. In an open letter dated June 11, 2022, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said while there was no constitutional requirement for presidential candidates to publish their assets and liabilities before elections, “doing so would show that you can stand up for transparency in assets declaration by public officers if elected.” The letter read in part:

Edo NEWMAP Beats 22 Other States, Clinches W’Bank Award, Others The Edo State Nigeria Erosion and Watershed Management Project (NEWMAP) has emerged as the World Bank’s overall best-performing state since the inception of the project in 2012, defeating 22 other beneficiary states to clinch the award. According to a statement, at the closing/valedictory session for the NEWMAP project, the state also came out tops in two other categories, including Best in Disbursement/Engineering/ Civil Works/Bio-Engineering and Best in Counterpart Funding. These it stated were in addition to coming as runner-up in several other categories. The honour was the highest winning by any state out of the 23 NEWMAP participating states, the statement noted. The Project Coordinator of Edo NEWMAP, Dr. Tom Obaseki led the project’s monitoring unit and other members of the management team to receive the awards at the Federal Capital Territory, Abuja. “The award ceremony, put together by the World Bank and the Federal Ministry of Environment, is aimed at recognising outstanding states who through the project have positively transformed the lives of residents of benefiting communities, ensuring environmental sustainability through erosion and watershed management infrastructure investments, climate change response and project management,

among others,” the statement added. Presenting the award, the Minister of Environment, Mohammed Abdullahi, who commended Edo State for the exceptional performance, hailed Tom Obaseki for expertly steering the affairs of the project since its inception in 2012. The Minister who was represented by his Special Assistant, Abdulhadi Abdullahi noted that NEWMAP was conceived in 2012 to deal with the ravaging effect of gully erosion and other forms of land degradation in targeted watersheds as well as enhance the livelihood of beneficiary communities. Receiving the awards, Obaseki expressed gratitude to the World Bank and the Federal Ministry of Environment for providing the opportunity for the Edo State Government to enhance the well-being of the people. He commended the Edo State Governor, Mr. Godwin Obaseki, for his relentless support for the project which has served as a major backbone for the successful interventions across the state. On their part, the World Bank NEWMAP task team leader, Dr. Joy Agene, and the National Project Coordinator, Dr. Salisu Dahiru enjoined the governments of beneficiary states to ensure the sustainability of the various projects in their states as the NEWMAP project winds down.

“Publicly committing to these issues will also show the voters that if elected you would act solely to protect the public interest; and avoid placing yourself under any obligation to people or organisations that might try inappropriately to influence you in the discharge of your constitutional duties. “It would also show that you would be accountable to the public for your actions and submit yourself to the scrutiny necessary to ensure this.

“Your public commitment to these issues will also demonstrate to the voters that if elected you would act and take decisions in an open and transparent manner, and that you would not withhold information from the public unless there are clear and lawful reasons for so doing. “Now is the time to show the voters that it will be no business as usual, and to make a public commitment on issues that if addressed would strengthen

Nigeria’s anti-corruption and human rights records, and improve access of Nigerians to public goods and services. “SERAP also urges you to publicly commit to probing the spending of security votes since the return of democracy in 1999, and widely publishing details of spending of security votes; finding the missing N11 trillion meant to provide regular electricity supply for Nigerians; as well as obeying court orders and the rule of law if elected.

“Widely publishing your assets before the elections would also show your principled stand on transparency and accountability in the management of the country’s resources. “Making asset declarations open would ensure that leaders do not abuse their powers for personal gain and allow civil society to hold leaders to account. If leaders are seen to live beyond their means, an asset declaration can be a starting point for investigations.''

US, UAE-bound Drugs Seized at Lagos Airport 39 arrested in Abuja raids Michael Olugbode in Abuja A Nigeria-based Congolese, Kandigu Kadi and a Nigerian, Makowulu Anthony have been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) at the NAHCO and SAHCO export sheds of the Murtala Muhammed International Airport, Lagos for attempting to export controlled and illicit drugs to the United States of America and United Arab Emirates. A statement by the spokesman of the agency, Femi Babafemi, yesterday said Kandigu was arrested on May 31st, at the NAHCO export shed for attempting to export 2.1 kilogrammes of pentazocine injection and Makowulu was nabbed on June 3, in connection with attempt to export parcels of cannabis sativa concealed in cereals packs to Dubai, UAE

through the SAHCO cargo shed. According to Babafemi, investigations revealed that the pentazocine consignment was being sent to Kinshasa, Congo, while a similar package containing 200 bottles of pentazocine injection intercepted a week earlier at the airport was heading to the US. He said in his case, Makowulu was caught with eight parcels of cannabis weighing 2.9 kilogrammes concealed in Nutribom Cereals cartons among other natural packs of the cereal, as part of a consolidated cargo meant for different people in Dubai. In other clampdowns, antinarcotic officers in Edo intercepted 10,280 tablets of tramadol, 2000 tablets of diazepam, 300 tablets of Swinol, 5000 tablets of Axol and 10 bottles of codeine based syrup in Irrua area of the state. According to the statement,

the Edo officers also destroyed 5.3 hectares of cannabis farm in Oke forest, Ovia North East local government area, as part of efforts to disrupt all cannabis planting activities for the season in the state. “In Yobe State, NDLEA operatives last Friday, raided Tsohuwar Kasuwa area of Potiskum town, where a notorious drug dealer, Usman Alhaji a.k.a NEPA was arrested and 22 blocks of cannabis sativa recovered from him,” the statement added. Babafemi added that in the past week, no fewer than 39 suspects were arrested across drug joints raided in parts of the Federal Capital Territory and different quantities of assorted illicit drugs recovered from them. He said areas raided between June 4 and June 11, included Apo Mechanic (Cashew forest),

Apo NEPA, Tora Bora, Gishiri junction, Jabi park, Jabi forest, Jabi Gidan Bola, Deidei area, Rugga area, City Gate, Sabon Lugbe, Basa village and Airport road. Babafemi said the raid, which continued across Abuja, was a joint operation between the FCT Command of the Agency and the Chairman Monitoring Special Task Force to rid the capital territory of the activities of drug dealers and peddlers. Commenting on the arrests, the Chairman/Chief Executive of NDLEA, Brig. Gen. Buba Marwa (Retd) commended the officers and men of MMIA, Edo, Yobe and FCT Commands as well as the C-MSTF for their resilience. He, however, charged them and others across all commands to remain vigilant and committed to the collective goal of saving Nigeria from the drug scourge.

Jonathan Felicitates Abdulsalami Abubakar at 80 Former President Dr. Goodluck Jonathan has conveyed his felicitations to Ex-Head of State, Gen, Abdulsalami Abubakar on the occasion of his 80th birthday. Jonathan described Abubakar as a leader who made significant contributions to the growth and stability of the country and the West African sub-region. Jonathan also highlighted Abubakar’s commitment to peace and the deepening of the roots of democracy in the

country, especially his roles in the birthing of the Fourth Republic. The former President who stated this in a goodwill message he personally signed, also prayed God to grant the former Head of State good health, more strength and wisdom to continue his service to the nation and humanity. The message, according to a statement by Ikechukwu Eze Special Adviser to Jonathan

read: “On behalf of my family, I felicitate with you on the occasion of your 80th birthday. “As a selfless patriot and elder statesman, you have made significant contributions to the growth and stability of our nation and the West African sub-region. “Your commitment to our national aspirations and considerable achievements as Head of State at a momentous period in the history of our

nation has continued to be referenced as a watershed in the birthing of the Fourth Republic. “Out of office, you have earned a reputation as a peace maker and nation builder for your key roles in promoting unity, mutual harmony and peaceful elections through the National Peace Committee. As you celebrate, I wish you more strength, wisdom, and sound health in your future endeavours.”

MONDAY JUNE 13, 2022 • T H I S D AY

T H I S D AY • MONDAY, JUNE 13, 2022

NEWS

LAUNCH OF TANTALUM ACADEMY... L-R: Managing Director Parallex Bank, Olumide Bakre; Founder Tantalum Academy, Mr. Mithun Kamath; Co-Founder, Sandhya Rayhumath; Actress, Joke Silva; Director Tantalum Academy, Mr. Folabi Oseni, and Former President, Chartered Institute of Personnel Management (CIPM), Mr. Abiola Popoola, at the oﬃcial launch of Tantalum Academy held in Lagos ...recently

Owo Killings: S’west Governors Meet, Declare 3-Day Mourning Express concern over influx of okada riders Churches record poor attendance over fear of attack Fidelis David in Akure The South-west Governors’ Forum, yesterday, declared a three-day mourning period in memory of the victims of the June 5 terror attack on St Francis Catholic, Owaluwa Street, Owo, Ondo State. A communique issued after a virtual meeting of the governors stated that the mourning period would hold between Monday, June 13, and Wednesday, June 15, to symbolise the collective loss across the South-west. The communique signed by all the governors, led by their chairman and Ondo State Governor, Mr Oluwarotimi Akeredolu (SAN), also expressed concern about the influx of commercial motorcycle (okada) riders in all parts of the Southwest. That was as churches in Owo Local Government Area of Ondo State, yesterday, recorded poor attendance the Sunday during services, perhaps, for fear of another attack, following the attack on St Francis Catholic Church, Owo, which happened during Sunday service. The governors’ communique read, “The recent attack on St Francis Catholic Church, Owaluwa Street, Owo, compels immediate intervention in the whole of the South West to nip the insidious phenomenon of insurgency in the bud. “The meeting, consequently, took decisions, some of which are expected to have far-reaching implications in the quest to protect lives and property in the region." They condemned, in very strong terms, the crime perpetrated by the terrorists against the people and residents of Owo, and, by extension, the people of the South-west. The communiqué said, “The governors agreed to declare a 3-day mourning period in memory of the victims of the 5th June, 2022 terror attack on St Francis Catholic, Owaluwa Street, Owo, Ondo State, starting from Monday, 13th June, to Wednesday, 15th, June, 2022 to symbolise our collective loss

across all South Western States in Nigeria. “The meeting agreed that all the governors should direct the flying of flags at half mast in all public buildings, facilitates and official residences across all the states in the South West in honour of the victims of the Owo terror attack. “We noted, with great discomfiture, the increasing agitations about spaces taken over by unidentified and unknown migrants in all South West States. The meeting, therefore, recommends an increase in the scope of surveillance of the activities of these undocumented settlers by relevant security agencies in all the states. The governors, as Chief Security Officers, resolved to continue to assist the security agencies in the areas of crisis management and intelligence gathering at all times. “The governors reviewed reports from various states on the factors militating against peace and security in the region. They expressed grave concern on the influx of Okada riders into all parts of the South West, especially, the state capitals. The meeting further resolved that efforts be geared toward identity management of Okada riders and stringent regulation put in place for their operation." According to the governors, it is time to reconvene the South West Security Committee to look critically into the creeping menace of insurgency before it blossoms into another intractable social problem. The communique added, "The committee will be expected to submit its findings on the desirability of Okada operations in the region. It is also expected to submit a multi-level template to combat the threat of insurgency and terrorism in the region. The forum agreed to convene forthwith a physical meeting of the South West governors to deliberate on the security challenges confronting the region." Meanwhile, many churches in Owo recorded low attendance during yesterday’s service, as

fears fresh attacks by terrorists, who had attached the Catholic church, lingered. THISDAY visited some churches yesterday, including Saint Andrews Cathedral, Imola Street, Owo; Saint Patrick Anglican Church, Ijebu-Owo; Saint Stephen Catholic Church Oke-Ogun, Owo; the Redeemed Christian Church of God, Pentecost Parish, Folahan Ale street, Oke-dogbon Owo; and New Church Cathedral, Fajuyi, Owo. St Francis Catholic Church, Owo, remained deserted and under lock and key, but armed police officers and soldiers were seen outside the church premises. At the time of filling this report,

THISDAY gathered that no priest had conducted a holy mass to cleans the church of what had been described as a sacrilegious attack in the house of God by agents of darkness. At St Stephen Catholic Church, Oke-ogun, members did not turn up in their usual large number, possibly for fear of attack. Also, when mass for the “Solemnity of the Most Holy Trinity” was going on, the entrance gate of the church was locked. A member of the church, Ejike Nwali, said it would be unchristian for him to stay away from God's house for fear of attack. "Why will I be afraid to go

to church, because St Francis was attacked? To me, to live is Christ. He is my source of joy, my reason to live and to die is to gain eternity," he said. Assistant Pastor at the Redeemed Christian Church of God, His Praise Parish, Oke-ogun, Owo, Mr. Kehinde Ogunkorode, said, “The book of Isaiah 41:10, God instructs the prophet to tell His people not to fear. 'Do not fear, for I am with you; do not be afraid, for I am your God. I will strengthen you; I will help you; I will hold on to you with my righteous right hand', so, you can see us here in our large number, we are not scared." A member of Saint Patrick

Anglican Church, Ijebu-Owo, Mr Ijawoye Mathew, said the low turnout was because many people were still mourning their loved ones, who lost their lives in the horrific attack. Minister of Interior, Rauf Aregbesola, had while briefing State House correspondents last Thursday, after the National Security Council meeting in Abuja, identified ISWAP as responsible for the Owo attack. Although ISWAP has not claimed responsibility, the minister said security agencies, particularly, the police, had been directed to apprehend the perpetrators, adding that the attack has no ethnic-religious connection.

UK and US, and has a strong background in automobiles. AdoIbrahim is currently the CEO of NIGUS International and Executive Chairman of NEXT Satellite TV Ltd, which would soon launch NEXT TV Direct-To-Home (DTH), geared towards generating thousands of jobs in the ICT and entertainment sectors. His tremendous international exposure in private and governmental business and hands-on involvement in generating international finance packages exposed his knowledge of international affairs and conventional and renewable energy. He has a strong international military establishment background and has been involved as a solutions provider in the ECOWAS region. Involved in high profile deals globally, Ado-Ibrahim is a Kogi prince and founder of Bicernergy. He owns Formula One team, Arrows. The son of the Ohinoyi of Ebiraland (Kogi State), he said there was need for Nigerians to put away religious and ethnic diversity, for collective development.

Chairman of the party. In 2004, Nwanyanwu was drafted to lead a party, Social Democracy (PSD), formed by the Nigerian Labour Congress, which led to his emergence as its National Chairman. The party was later renamed Labour Party to reflect its new ideals. Nwanyanwu started from scratch to organise and lead the political party hitherto unknown and at the expiration of his first term, he was re-elected in December 2009 as the party's national chairman at a convention held in Abuja. Under his leadership, the LP secured governorship of Ondo State, with Olusegun Mimiko. At the October 2014 convention of the party, he did not put himself up for re-election as the national chairman, having served two consecutive terms of more than 10 years, even though there was no constitutional impediment against his re-election. He was unanimously elected by the convention in session as Chairman, Board of Trustees of the party. In 2014, he represented the Labour Party at the National Conference as one of the 492 delegates, and in February 2015, he resigned as the Chairman, Board of Trustees of Labour Party and also withdrew his membership of the party. He later formed the ZLP.

ON YOUR MARKS… HERE ARE THE 17 FINALISTS of the 2015 presidential election and contested the presidential primaries, losing to Buhari. In 2017, he returned to PDP and was the party’s presidential candidate during the 2019 presidential election, when he again lost to incumbent President Muhammadu Buhari. In May 2022, Atiku was elected the PDP presidential candidate for the 2023 general election. Atiku worked in the Nigeria Customs Service for 20 years, rising to become the Deputy Director, as the second highest position in the Service was then known. He retired in April 1989 and went into full-time business and politics. He started out in the real estate business during his early days as a customs Oofficer.

Kola Abiola (PRP) Kola Abiola attended the Colorado State University, where he obtained a Bachelor’s degree in Finance and MBA in Business Administration. He returned to Nigeria and started the University Staff School, Akoka, during which time his mother was a lecturer at YabaTech. Kola, the son of the acclaimed winner of the June 12, 1993 election, Chief Moshood Abiola, seems set to take off, where his father left off as he emerged presidential

candidate of Peoples Redemption Party (PRP).

Adewole Adebayo (SDP) Presidential candidate of the Social Democratic Party (SDP), Adewole Adebayo, is a lawyer and founder of KAFTAN Television. On January 15, 2022, Adebayo declared his intention to run for the office of the Nigerian president. A public affairs commentator, he provides advice on national issues on occasion and participates in Nigerian politics as a member of the Third Force. Adebayo began his legal career as a litigation lawyer at Tunji Abayomi and Co in Lagos. After two years of legal practice, he founded his own law firm, Adewole Adebayo & Co., House of Law, in 2002. He sponsored nearly 2,000 young Nigerians in Nigerian to foreign tertiary institutions, in addition to many people he had financially empowered across the country.

Malik Ado-Ibrahim (YPP)

Founder of the Reset Nigeria Initiative, Malik Ado-Ibrahim is presidential candidate of Young Progressives Party (YPP). He was born in Nigeria, educated in the

Chief Dan Nwanyanwu (ZLP)

Dan Nwanyanwu is the presidential candidate of Zenith Labour Party (ZLP), and also

MONDAY JUNE 13, 2022 • T H I S D AY

T H I S D AY • MONDAY, JUNE 13, 2022

NEWS

DOES HE WANT HIS JOB BACK? President Muhammadu Buhari (right) when he received in audience, former Minister of Transport, Rotimi Amaechi at his Aso Rock residence in Abuja…yesterday

SUNDAY AGHAEZE

Nigeria Too Deeply Troubled to Be Handed over to Tinubu, Says Ex-PDP Legal Adviser Insists former Lagos governor’s official age doubtful Emmanuel Addeh in Abuja A former National Legal Adviser of the Peoples Democratic Party (PDP), Mark Jacob, at the weekend took a swipe at the All Progressives Congress (APC) presidential candidate, Bola Tinubu, describing him as unfit to be the country’s next leader. Jacob who spoke when he appeared on Arise Television, THISDAY’s broadcast arm, maintained that given the complex nature of the country and the deterioration in all sectors, Nigeria requires a hands-on person to pilot its affairs. Jacob expressed doubt over the official age of the APC leader, alleging that from official records in the public space, the politician is only about seven to eight years senior to his (Tinubu’s) first daughter. He remarked that rating Tinubu over the PDP’s presidential candidate, Atiku Abubakar, was a wrong calculation, stating that he only made inroads in the north during the primaries of the APC. The ex-legal adviser maintained that when it comes to the general elections, Tinubu would not stand a chance in the north, stressing that the perception that he already has President Muhammadu’s votes in the north locked-in was a myth. “He will make some little efforts. In fact, if it was Prof. Yemi Osinbajo, it is very possible that some young people, some very active people in the north would have supported him. But for Tinubu, what really does he have

that can be compared to Atiku? “The campaigns are already on. Just go on social media. If you understand Hausa, what they are now saying is that we are going from father to grandfather and that is what the APC is giving us. Nobody will buy that in the Nigeria of today. “We have suffered enough in the past seven years in the hands of a baba. We cannot in all honesty, as Nigerians, hand over Nigeria to a grandfather who appears frail and has difficulty managing even his frame. “This country is too complicated to be handed over to somebody who has difficulty managing his health, his life, his person. If you manage a very big company aimed at making a profit, you will be careful who you hand over the running of the company to if you want to make profit. “Nigeria is a serious business concern and cannot be handed over to persons who are having challenges,” he pointed out. Reminded that Atiku is at least six years older than Tinubu, Jacob remarked that put on the same race track, Atiku will outrun the former Lagos governor, since according to him he’s fitter in all respects. “Does he (Atiku) look older than him (Tinubu) if you put them on the race track? His current age is what he has decided to show you and some of us are aware that he’s seven years older than his daughter by the information in the public domain. “When did he marry? When did he give birth to his daughter?

She’s 61 and he’s 69. How can we play with Nigeria like that? People must take this country seriously and people must be serious as to who will handle this very complicated country in the next few years. We can’t joke with it and we cannot toy with it,”he added. Noting that the country is currently at a precipice, the lawyer explained that if Nigerians are serious, they must go beyond the mundane and look at the serious issues at stake, including

the candidates’ health. “How can we hand over our country to persons who can on even simple issues like age not be very forthright when it’s very apparent that it’s different from what you are swearing that you are in your declaration of age. It’s not correct and it’s not fair to the country that we just joke over these things,” he declared. Away from Tinubu, Jacob said that this time , Atiku must consult widely on the issue of his running mate, noting that

in 2019, the choice of Peter Obi was not applauded by most of the governors, a development that impacted the outcome of the election. He stated that the candidate must be a result of consultations, including agreements with PDP governors, the PDP National Working Committee (NWC) as well as the Board of Trustees (BoT) members. He expressed joy that Atiku remains a very good politician who knows the right thing to

do, stressing that the choice of the running mate to Atiku will be a purely political decision. He maintained that Obi, may also not go far because his support is allegedly coming from one zone, but admitted that the votes of the PDP may be diluted by Obi. Jacob stressed that many people who initially rooted for a president of eastern Nigeria extraction are now disappointed since even the delegates from the South-east didn’t vote their own during the special convention.

UBE Act: Five Years Grace for 50% States’ Counterpart Funding Not Feasible, Says Education Consultant Kuni Tyessi in Abuja Education Consultant with Malala Fund, Femi, Aderibigbe has revealed that the five years grace given to state governments for the payment of their counterpart funding in support of basic education was unrealistic in a term of four years. Aderibigbe who stated this at the, ‘Accountability for Good Governance in Education Stakeholders’ validation meeting in Abuja, and which was organised by YouthHubAfrica, said the Universal Basic Education guidelines was not in tune with the political realities of the four-year tenure of governors and so defeats the purpose for its creation.

Lamenting the insufficiency in the education budget, he said increment should be dedicated to the imbalance, adding that this would be the formula with which UBE Act defines how it makes use of the two per cent consolidated revenue it gets from the federal government. "The five-year grace period required for states to provide their 50 per cent counterpart funding as recommended in the UBE guidelines is not in tune with the political realities of the four-year tenure of governors. “If a governor is given a term to complete his five-year payment in four years it defeats the purpose of that provision created," it added. Similarly, Programme

Manager for YouthHubAfrica, Olusegun Medupin, said a citizen participatory framework was underway in the supervision of the budget and its implementation. Noting that the Universal Basic Education Commission (UBEC) had been trying to live up to expectation, the continuous decline in the education budget has been too low for meaningful progress. "Increased budget for Nigeria by 2023 should not just be at the national level but also at the state level. We want a citizen participation framework where citizens will be part of the budgetary process in basic education in all the 36 states if the federation including the FCT.

"From the process of budgeting to the time when implementation will take place, the citizens will be at the demand side of education which includes parents, the community, etc and will be able to track the budget and follow it up in details. "At the end of the day, they will be able to know if the components of the budget have been implemented or not. "The demand side of education are parents, teachers, students, civil society organisations and the community, while the supply side is the government. "Some states have gone to as far as 25 percent in terms of budgeting and not in terms of implementation. States like Kaduna and Kano should be lauded."

CHOGM 22: Rwanda Promises High-level Global Gathering Michael Olugbode in Abuja Rwanda has promised to host a high-level global gathering during the Commonwealth Heads of Government Meeting (CHOGM) in Kigali later this month. Addressing fellow diplomats from Commonwealth nations at the Pre-CHOGM 22 Networking Cocktail Event held in Abuja at the weekend, the High Commissioner of Rwanda to Nigeria, Satnislas Kamanzi said: “The time has come now and Rwanda and her People are poised to host one of the

most high-level global gatherings, the eminent leaders and their delegations would be in attendance. Everything has been carefully set up to ensure a memorable stay and a conducive environment for smooth and successful deliberations.” He added: “Countdown has started as we are now less than two weeks before the Commonwealth Nations rally in Kigali-Rwanda for CHOGM 22. Needless to remind us that Rwanda had been ready to host this high-profile global event a bit more than two years ago, if it hadn't been for the unfortunate surge

of the COVID-19 pandemic and its ensuing destructive footprint.” The envoy said the meeting with the theme: “Delivering a Common Future: Connecting, Innovating, Transforming,” would serve as a wide platform to debate and make game changing decisions on issues of common interest clustered in sub themes including: governance and rule of law; sustainability along the nexus between economy and the environment; health; technology and innovation; and youth. He disclosed that four forums

had been scheduled to hold as follows: The Youth Forum from 19th to 21st June, Women's Forum from 20th to 21st June, People's Forum from 21st to 22nd June, and the Commonwealth Business Forum from 21st to 23rd June. He equally disclosed that the official opening ceremony had been scheduled for June 24, adding that there would be a Heads of Government Retreat on June 25th. He promised that: “Our country will endeavour to take the lead in the necessary engagements to deepen the reflections from

CHOGM22, and to implement agreed upon decisions with a particular focus on harnessing quick wins in the areas of Climate Change, Global Health and Trade inside the Commonwealth and beyond. “Rwanda is with least doubt that our shared values will keep guiding us as we work collaboratively to make significant strides in the socio-economic transformation beneficial to the Commonwealth community.” Also speaking at the occasion, the United Kingdom’s High Commissioner to Nigeria, Catriona

Laing said the UK had been the Commonwealth Chair since 2018 “After a two-year delay, we will hand over the Chair to Rwanda in a few weeks’ time. As Chair, the UK has worked with our Commonwealth partners to champion human rights, boost intraCommonwealth trade and support climate action, particularly in the most vulnerable member states. “We look forward to working with Rwanda as the incoming Chair in Office and the rest of the Commonwealth family to maintain momentum on these priorities.”

MONDAY JUNE 13, 2022 • T H I S D AY

MONDAY, JUNE 13, 2022 • T H I S D AY

INTERVIEW

PHOTOS BY: SUNDAY ADIGUN

Mbah: Pinnacle in Number One Position by Market Share and Volume in Downstream Sector He comes across, unassuming, gentle, soft spoken, but you will be mistaken if you think that is all there is to the man. Beneath that gentle look, lies a burning desire to dominate his operating space. A thinker, an innovator and disrupter. He crept on his competitors and before they realised it, he had displaced them to reach the commanding heights of competition with his unique service offerings. The next level according to him is to disrupt his own offerings with even more innovation and dexterity. Enter the world of work of Mr. Peter Mbah, Chief Executive Officer of Pinnacle Oil and Gas. He was recently elected the Peoples Democratic Party (PDP) governorship candidate of Enugu State. He has a long track record of entrepreneurship and his experience cuts across various sectors and activities including, import trade, oil and gas sales and distribution, and maritime logistics. He also has his footprints on the sands of public service, having served as the Chief of Staff to the Enugu State Governor and Commissioner for Finance and Economic Development of the Enugu State government in the past. In this interview with THISDAY, Mbah speaks about how his company started off as a tiny organisation in a onebedroom studio apartment to becoming an industry leader with 23 per cent market share. He also stresses the need for the federal government to fully implement the Petroleum Industry Act so that the country can reap its expected benefits. Excerpts: Tell us how Pinnacle Oil & Gas Limited started off as a company? Pinnacle commenced operations in 2008 and we started off in a one-bedroom studio apartment somewhere on Ahmed Onibudo Street (where used to be known as Princess Court) on Victoria Island, Lagos. It is a block of studio apartment. So, we took a space there. I started it off with about two other guys -one was my secretary and the other was my dispatch man. That was essentially how we started and what we did was largely the buying and selling of petroleum products. We bought and sold products from the terminals and we also got involved in looking at the movement of the market onscreen. In summary, we started

from that humble background, what you could describe as zero-base and of no reckoning. But we also knew that we weren’t just another oil business firm. We were clear from the outset, even from that humble beginning. We made our mission clear; which was to distribute petroleum products at a price that is unbeatable in the market, and then, we also envisioned that we were going to play a dominant role in the petroleum products market in Nigeria. In the course of growth, the only thing that changed was that we moved the word ‘Nigeria’ to Africa. It got to a point where we felt that the Nigerian market was not going to be our limit, we

started looking at the entire continent as to play a dominant role. That means from that your small corner, you already had a dream to dominate? Absolutely! And that again became largely the driver of a lot of decisions we made. We knew that this market - the downstream oil and gas industry - was a matured market and we already had dominant players. The market was already distributed. The big players had already captured their shares in the market. The question then for us was: how do you become a dominant player in an already matured market? If you were dealing with an evolving market, a

nascent market, it’s easier because everybody is struggling for a market size and companies are trying to capture different segments of the market. But that wasn’t where we were. We were in a space that companies had already taken their positions and had captured their various sizes. So, we knew that growing incrementally was not the option. We knew we needed to come up with a disruptive idea that would help us displace some of the dominant players and take that dominant position that we had envisioned. What we did was to look at the compelling business problems that existed. We observed Continued on page 26

MONDAY, JUNE 13, 2022 • T H I S D AY

INTERVIEW

The Exponential Growth We Sought Could Only Be Brought to Bear By Disruptive Innovation... Why I Want to Be Enugu Governor that those problems, those challenges existed in the operations space. We observed that the industry relied a lot on multiple handlings of cargoes before they get to the end-user, and we felt because of the cost intensity of those multiple handlings, made it largely inefficient. I mean in terms of cost and also time. And so, we felt that the sub-optimisation needed to be disrupted which was how we came up with this idea of eliminating those multiple handlings by creating what is known as an offshore intake facility, or if you will, what is also described as an SPM and CBM. SPM is a Single Point Mooring system and the CBM is a Conventional Buoy Mooring system. The best way to describe them is like an open seaport - a port in the middle of the sea. So, just like you have ports for dry cargo by the shore, the difference with this is that we had to do a subsea pipeline of about 40km network of pipelines. It is subsea, so it’s beneath the seabed. We did that and have what is also known as a pipeline end manifold that sits on the bottom of a sea - where you tie in the pipes that connect to your terminal from the shore, and then you connect your hoses that would hook up to the manifold of the vessel on the same pipeline end manifold sitting on the seabed. These are complex engineering that require a whole lot of data and survey in order for you to even commence the design. But we knew that this was radically going to change the face of the industry. It was going to be a major changer. So, it took our attention away from those huge trading that our colleagues were doing at the time because we knew that ultimately, it was going to be a quantum leap once we got it right. So, we persevered, we carried on. To cut a long story short, by March last year, we operationalised one of the mooring facilities - the CBM. That became operational in March 2021, and by September, what we had envisioned became a reality. We became the market leader by market share and also by volume. We were able to launch this facility that allows us to turn around what typically takes the industry 30 days (the volume that a typical marketer will require 30 days to do), is what we can do in three days. The reason is that those large tankers that normally have to come with shuttle vessels to light at the mother ship, could easily moor at our facility in the open sea, discharge from that point to our terminal. And we have also constructed the largest storage facility in the country. We started with a 300 million litres capacity which is poised to be increased to over a billion litres. That design is already done, the approval got, we are just in the process of implementation now. How long did it take from the time you envisioned dominance to actualising and achieving it? So, looking back at when you took that decision to getting the mooring facilities in place, you must be delighted that you took that decision? Yes, we are excited, and I think that we are just at that position any company would love to be in its industry. Because we are not a company that is basically in a bandwagon kind of thing, where people are already in, you have everybody doing the same thing. At some point, what was fashionable was people trading, going of course, to increase their retail footprint and doing trading, which is on its own not bad. But again, it’s a function of what role you want to play in your industry. If what you wanted was to grow incrementally and to just keep growth rate at maybe, five or six per cent, which is on its own, a beautiful growth rate by any standard, you will be fine. Increasing your retail footprint might be a good strategy for you. However, if your corporate objective is to play a dominant role and that’s your long-term goal, then you must begin to craft strategies that would enable you play that dominant role. Except you only want to pay lip-service to that thing you have envisioned. If you truly want to become the dominant player, that means you want to be the market leader. Your whole strategy would be geared towards ways that you can employ to get to that destination. And that was what we felt at the time, that incremental growth was not the way for us, that we needed that quantum leap, that exponential growth and what could bring it to bear was disruptive innovation: doing things completely different and not doing it in a conventional way. So what we did was largely a disruptive innovation, which enabled us to capture the market share. What is your market share today, and what

think, the closest competitor is perhaps, five per cent. So, we have a considerable market share, and we are not really resting on our oars. We believe that there is still room for improvement as we want to continue to improve what we have on ground. Talking about room for improvement and growth, you know, innovation and expansion are endless things for any corporate organisation. What is your medium to long-term plan to ensure that you either maintain your market share or increase it? Well, I think, the best way to describe our management behaviour is to describe us as a company that has a management structure and a management team that is ambidextrous. We have a strategy that is called ‘exploit and explore’. We continue to exploit the space we are in, continue to incrementally improve on the value that we created and the services that we are providing. But in addition to that, we will also continue to look at ways that we can disrupt our own self, create new things, that’s the exploration part. So, we are ambidextrous by behaviour. If there is someone that is going to disrupt this market in future, it will still be Pinnacle disrupting our current service provision. So, we are not just relying on the fact that we are dominant players, we are number one. But we are looking at other ways we can even disrupt what we have just created, and as we do that, the reason I talked about ambidexterity is that we are also deepening the depth of what we are doing - those incremental improvements that we need to do even in the current value proposition that we have. That is still ongoing. But how did the name ‘Pinnacle’, come about? It’s not by accident, I have to confess. When we were tinkering with names, what struck us was what role did we want to play in the space we were going into? And it became clear that we wanted to be the leader, and we started looking for a word that captures the height of your industry. That was how I was struck by the word, ‘pinnacle’. We conducted a search, it was available and we went for it. But first of all, it was where we wanted to be that led us to the name, pinnacle.

“We were able to launch this facility that allows us to turn around what typically takes the industry 30 days (the volume that a typical marketer will require 30 days to do), is what we can do in three days” were the cost elements of this disruptive innovation - the entire mooring project that catapulted you to this dominant position? Well, in terms of cost, there are a whole lot of things that you have to consider, but in terms of the project size and what we had envisioned it was going to cost in our budget, it’s about a billion dollars. We knew this was going to cost a billion dollars when we started, to be able to realise this full size of project. So, it wasn’t also just spending a billion or more dollars to do this project, it’s also the sheer time it took, the number of regulatory approvals you have to obtain, the data, the surveys you have to do. We got our first concession in 2011, and I told you we started operation in March 2021. That is clear 10 years from when we got the concession from the Lekki Free Zone to do the SPM. Because the SPM is an offshore Port, it goes beyond a ministerial approval. You have to escalate to the Federal Executive Council. So, you need to obtain a presidential approval for the facility sitting offshore in the sea, you have to obtain presidential approval for the Pipeline Right of Way, because you are saying that, that Right of Way in the sea is owned exclusively by Pinnacle and it’s all recognised by the navigational authority that vessels cannot come there because it’s exclusively owned by Pinnacle. And indeed, 500 metres from our right of way is also within our exclusive zone. So, there will be notice issued to mariners that this space in the sea belongs to Pinnacle and of course, vessels in the navigational chart will clearly see it. So, it requires a whole lot of regulatory approvals to get to this point. And again, because things that you do offshore are weather sensitive, you have to be careful about what time of the year you are doing your installation because of the weather downtime. It’s sensitive to a lot of things

unlike the installations you do onshore. This is offshore, so the weather plays a lot of role. On the market share, we currently have 23 per cent of the market share and we believe that, that is a good market share. We also see ourselves increasing that, because we have just done the first phase of this project. We are continuing with the second phase. Do you have any competitor in this country regarding this facility you just described for us? No, we don’t have any marketer in our space that has a terminal that can take a vessel size of 150,000 tons or a vessel size of 90,000 tons without lightering. We have two mooring facilities. One is sitting at a water depth of 17 metres. The other is sitting at a water depth of 23 metres. That is as deep as you can get. Imagine that, deep seaports, their Draft is usually 14.5 or 15 metres. If you have a deep seaport with 12 metres, it’s still significant. But we are talking about a port of 17 metres and 23 metres respectively. So you can take all sorts of vessels. You can bring in your Suez Max, your LR2 (Long-range 2), your LR1 (Long-range 1) Vessels. They can all berth there without worries. You have a market share of 23 per cent. Can you tell us the market share of your nearest competitor for the sake of comparison? I think, again, the market share we enjoy today is largely because of the efficiency of our terminal. What that means is that our turnaround time is much lower, much reduced than our competitors. As I mentioned earlier, what will typically take the market 30 days to turn around, takes us three days. So, I

Is there any benefit the Petroleum Industry Act (PIA) has brought to your expansion drive? And again, are there government policies you want to see to support your business? If the PIA had been implemented as it was envisaged (you know that the PIA came into operation in August last year) and it was envisaged that six months after coming into operation, we are going to have the downstream market deregulated, there will be no more price control. That was what the PIA prescribed. But you know that, that portion of the PIA has been suspended because as you and I know, the market is still regulated and it is still price-controlled. We had hoped that the market will be deregulated because we have created this value. Are we fully capturing the value we have created? The answer is no. The reason is because we are playing in a regulated environment where your prices are controlled. If the market was liberated, we would have been able to feel the actual cost the value we have created is and charge the market for that. But because we don’t have a liberated market, we are still operating as a regulated market. So, we think that once the market is fully liberated, it will enhance our earning potential, it will enhance the full capturing of the value we have created. We look forward to the full implementation of the PIA. Nigeria’s refining capacity has been projected to hit 1.4 million barrels per day in the next couple of years, with this projection hinged on the completion and coming on stream of ongoing refinery projects. If this happens, how will it impact the petroleum marketing business in the country? The infrastructure we are providing is not a substitute for refineries, it’s actually a complement to refineries. Refineries will see them as complementary assets. We look forward to increase in refining capacity because the more availability of products we have locally, the better use or need for our facilities. What we do have is the infrastructure that refineries need to evacuate and to store. So, we are not in competition with refineries. We will actually at some point work with them closely. So the assets are complementary, it’s not the other way round because our facility has bidirectional capability: you can import and you can export. Continued on page 27

MONDAY, MAY 30, 2022 • T H I S D AY

INTERVIEW

Nigeria Bleeding Because of Huge Fuel Subsidy Burden from what we built, I know where the pains are for investors. So, I know those things to enable so that investors will rush and be queuing to come to Enugu State, whether it’s the ease of obtaining your construction permit, the ease of obtaining your registration of property, the ease of enforcement of contracts, the ease of setting up business and also the subunits from a government philosophy point of view. We also intend to be transparent to make sure that people have access to information about what we are doing. So, we are committed to making sure that our budget is known, our budget is monitored, not just by government agencies but also, we will bring in the non-governmental agencies and organisations into it so that we are not acting like an Island. We are an integral part of the society, we will make sure that the people know and understand what the government is doing. How do you intend to unlock the huge natural resources in Enugu State that are untapped? I’m glad you pointed that out. Enugu, unknown to most people has huge mineral resources. We have huge limestone deposit of commercial quantity, we have gladstone, gemstones, alum, we have clean coal. So we have huge resources. We also have oil fields. A lot of people don’t know that. Currently, we have oil fields that are exclusively owned by Enugu and we have the ones that have lateral formation that are owned by Enugu and other states. So our aim will also be to get that part of our economy activated.

You can receive products from vessels and you can also load back products to vessels. So, it has bidirectional capability. It’s also a resilient infrastructure. How is the current Russia-Ukraine war affecting the importation of petroleum products into the country? Also, what is your take on the issue of energy transition? First, on the Russia-Ukraine war, obviously, you noticed that the price of crude has hit the roof and the products that we market are derivatives of crude. What it means is that the commodity price right now is at its peak, it’s really high. That’s the way it impacts the sector. So, you now need a lot more capital outlay to import, like the deregulated products - the Automotive Gas Oil (diesel) which is not within the purview of the regulated products. But of course, you know, gasoline which is popularly known as Premium Motor Spirit (PMS) or petrol, is regulated. So, for us as marketers in Nigeria, we are not impacted one way or the other, but as a country, yes, you noticed that the money that the government is paying on subsidy has kind of ballooned. The reason is because of the high cost of the commodity in the international market. So, the gap between your landing cost and what the regulated price is today has widened, it’s growing bigger. If your landing cost was at N300 per litre when the market was stable, you will notice that the pump price today is at N162 per litre. So, what the government will be paying as subsidy will be the difference between N300 and N162. But if your landing cost today is N600, based on what the crude oil price is doing, what that means is that what the government is paying today as subsidy is the difference between N162 and the N600. Whereas it hasn’t impacted the market because the market is regulated, as a country, we are bleeding because of the huge burden on the economy. You notice also that the president went back to the National Assembly to ask for additional N2.4 trillion to be able to cushion the effect of subsidy. That’s with respect

to the Russia-Ukraine effect on the market. And then you talked about energy transition. We really do have major challenge here in Nigeria in even getting access to energy. I think the first thing for us is to even have access to energy before we begin to talk about transition because we don’t have enough electricity, we don’t have enough oil, we don’t have enough gas. So, whatever energy source you are dealing with here, we still don’t have sufficient access. It is when we have enough access to energy that we could then begin to be selective as to whether it’s clean, whether the level of carbon emission each energy source that we are deploying is small or big. But the challenge is still enormous. We are still struggling to even have access, and I think that, we will get to that point when we would have had access and we can begin to say, let’s be selective, let’s be sensitive. So, access is still a major challenge. You are running a very successful business by all indications and you are playing a dominant role in your industry. Why did you choose to go into politics? Thank you for that question, and I get to provide an answer to this always. Just as you have pointed out, I guess anybody in my shoes today would truly wish he continues to do what they are doing. Because you wake up in the morning and you are looking forward to coming to your office because you are in an industry where you matter, where mentioning your name kind of means a lot to your competitors. And I think that is the delight of any CEO playing in a space where you are relevant and not just being relevant but where you have taken the number one position. So, to see that you are leaving all that to go into the uncharted waters or if you will, the murky waters of politics, you must have something driving you. And maybe, I should share some of those drivers. I’m largely driven by transcendent values. I have interest in making sure that the life that I live, the decisions that I make, things that I

“We have a strategy that is called ‘exploit and explore’. We continue to exploit the space we are in, continue to incrementally improve on the value that we created and the services that we are providing. But in addition to that, we will also continue to look at ways that we can disrupt our own self, create new things, that’s the exploration part. So, we are ambidextrous by behaviour”

do affect others, not necessarily self. So, my decision to go into politics in my home state or to go and serve my people in my home state is driven exclusively by service. And that service is beyond self, it is beyond Peter Mbah. It’s about several millions of people that we have, to ensure that we make decisions that will impact positively on them. So, I’m hoping that with the indication I have received, having been nominated by my party as the standard-bearer, I hope that the people of my state will also elect me in next year’s general election to serve them, and we can then offer our humble service to them. What is that vision you have for Enugu? My vision is clear. I envision an Enugu State that is going to become one of the top three states in the country in terms of Gross Domestic Product (GDP). I also envision an Enugu State that we will achieve a zero per cent rate in our poverty headcount index. What that really means is that we currently have a GDP size of $4.4 billion, and if we are going to be one of the top three states in the country, it means we have to grow our GDP at a minimum of $30 billion. I’m sure you would also think it’s crazy. But before you jump into conclusion, what will give credence to what I’m saying, that I’m not just making a loose speech, is what I did in the private sector. When I came in, I recall, on one of our strategy retreat sessions, where we brought in some resource people to train us on strategy. We expressed to them how we wanted to grow our revenue then, from N29 billion to N600 billion annually, and they thought it was mad, that it was only crazy people that could imagine such a thing, because you don’t grow at that rate. If you did a 10 per cent growth rate, you are a first star company. But growing from N29 billion to N600 billion is like growing at more than 150 per cent per annum. We did that. Today, we have beaten that number. We are not even at N600 billion; we are well above that. So, what I say to people is, before we jump into conclusion as to whether it’s possible to grow the Enugu economy from $4.4 billion to $30 billion, you have to look at what we have done in the private sector to give credence to what we are saying. It will require not incremental growth as I said, but will require taking disruptive decisions, doing things that are creative, making Enugu State the preferred destination for investors, for businesses, for living and also for tourism. Whatever we are going to do in Enugu State will be world-class, whether it’s the enablers, the pillars of our development, the education we provide, will be world-class, the healthcare services will be world-class. And we know that some of the things we have to enable in order for investors and businesses to be attracted to Enugu is the ease of doing business. And because I have been an investor myself, I have invested hugely in Lagos State as you can see

Now that you have ventured into politics which you know is different from the private sector, you have to deal with a whole lot, the lawmakers, the vested interests and all of that, are you prepared to face those vested interests? I don’t think they are radically different because even as a CEO, I also have to manage my board. I also have to make sure that we practice effective corporate governance and in doing that, it’s also my ability to sell my project to my board to be able to negotiate with them, convince my board members why this is good for the company. So, to that end, I don’t think they are radically different. You will need engaging, getting the people, the other institutions of government that you need to carry along, making sure they understand what your priorities are and ensure that you guys work as a team. So there will be collaborative effort, reaching out to those other arms of government that you need to work with in order for us to achieve our common goals. How do you intend to sustain the peace that Enugu State is having, considering the current insecurity in the South-east and you know security is key consideration for any investment? I think it’s important to point out that this current administration has achieved a lot, not just in terms of peace and safety of Ndi Enugu. If you look at it in terms of the new infrastructure that this current administration has done and indeed the maintenance of the existing facilities, you notice that it is something that you will be wondering how are they able to achieve that with the paucity of fund we have today in the country, particularly receipts from the Federal Account Allocation Committee (FAAC). But you also notice that these things are happening on account of prudent and creative management of our resources. You notice that Enugu is one of the few states in the country that discharge their obligations to the teeming workers you have in their states. And we do not only do that but it’s timely and in full. It is not common. In fact, by the 25th of every month, workers in the state get their salaries, no matter what. This current administration has zero tolerance for delay of Enugu staff salaries. They have discharged that obligation creditably. Again, the security we enjoy in Enugu State today cannot be taken for granted and it’s not a happenstance that we have that security. It is a deliberate strategy by this government to ensure that, because you know that all the fine things we talked about that will attract investors, businesses, cannot happen if you don’t have peace. You cannot have sustainable development without peace. So, in order for us to sustain what this current administration has achieved, the good thing is that we are one political family. You will notice that what the policy of this government is, like this policy that you have identified, that kind of stands Enugu out, we will have to continue it. There is going to be that continuity, we have to do everything to sustain and build on it.

T H I S D AY ˾ MONDAY JUNE 13, 2022

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

How Tinubu Survived Adamu’s Sordid Schemes

Adedayo Akinwale writes on the ignoble roles played by the National Chairman of the All Progressives Congress, Senator Abdullahi Adamu, which were aimed at truncating Senator Bola Tinubu’s emergence as the presidential candidate of the party in the 2023 national elections

Tinubu

he Special National Convention of the ruling All Progressives Congress (APC) may have come and gone, with the former Governor of Lagos State, Senator Bola Tinubu having the last laugh. He emerged presidential candidate of the party, in spite of the strong opposition. Tinubu last Wednesday defeated 13 other aspirants to clinch the party’s presidential ticket, after scoring 1,271 votes against his closest rival, the former Minister of Transportation, Hon. Rotimi Amaechi who scored 316 votes and Vice President Yemi Osinbajo, with 235 votes. The Special National Convention of the party had suffered many shifts and postponements due to power play and politicking amongst various interests in the party. Many had thought the convention would lead to fragmentation of the party and brutally bruised ego of its leading members. Forty-eight hours to the party’s convention, the fear of party members was confirmed when the National Chairman of the party, Senator Abdullahi Adamu descended hard on Tinubu for allegedly insulting President Muhammadu Buhari. Addressing a press conference in Abuja, Adamu said Tinubu’s utterances were unbecoming and he might be punished for that. From that moment, there was apprehension concerning the political fate of the former Lagos State Governor, making it, arguably, the longest 48 hours in his life. The aggressive attack on Tinubu by Adamu followed from a meeting with delegates in Ogun State ahead of the presidential primary election, which provided Tinubu the opportunity to bare his mind in an explosive manner. In a rare fit of anger, Tinubu recounted his very important role in the emergence of Buhari as president of Nigeria in 2015. He said if not for his support, Buhari would not have become President. The ink had hardly dried on the paper on which Tinubu’s statement was printed when Adamu fired back, hinting that the ruling party would be on the lookout to punish Tinubu or any other aspirant that made a similar statement. Though quickly apologized and maintained that he has utmost respect for President Buhari, Adamu did not show similar remorse. The odium created by his utterance had become firmly established at a deep level that attracted bad blood to Tinubu in some quarters. Adamu said: “Social media have been

Adamu

inundaunted with the report of one of our leaders Asiwaju Bola Tinubu, former Governor of Lagos State when he went for his campaign in Abeokuta, in the course of his address, he went as far as to mention what happened between him and President Muhamadu Buhari. He went as far as to tell his audience how Buhari went to him, even prostrating in tears, begging him to endorse him for the presidency. He claimed that Buhari went to him. The words in Yoruba... the interpretation was very insulting, very unbecoming of a person of that standing to do what he did to a sitting president produced by the votes of APC. It is amazing how a fellow APC person can make that kind of comment about the president. We take exception to this and this doesn’t show any appreciable level of respect for the office of Mr. President and the person of Mr. President.” Adamu’s Stunt Not satisfied with tonguelashing Tinubu for his outburst which the APC National Chairman used as an excuse stop his bid to get the party’s presidential flag, Adamu went ahead to pull a stunt when he told members of National Working Committee (NWC) that Buhari had endorsed Senate President, Ahmad Lawan as the consensus candidate of the party, against the known but unwritten ar-

Lawan

Fayemi

rangement that the presidential ticket should be ceded to the South. After Adamu succeeded in creating the confusion, other members of the NWC stood their ground and insisted that all the aspirants should be given a level playing field by going into the election to test their popularity. At this point, the plan by Adamu to seal the fate of Tinubu and other presidential aspirants hit the brick wall when other members of the NWC refused to ratify Lawan as the consensus candidate of the party, just a few hours to the party’s convention. The National Organising Secretary of the party, Mr. Suleiman Argungun, who alongside other members of the NWC including the National Vice Chairman, South-south, Chief Victor Giadom, National Vice Chairman, South-west, Isaacs Kekemeke, National Vice Chairman, North-west, Dr. Salihu Lukman, among other NWC members were forced to address the press insisting that Lawan was never adopted by the NWC as a consensus candidate. He said: “It is just an information that he (Adamu) gave us. It is not an issue that has to be deliberated by NWC. It is an information. All of us are entitled to our opinion. We are all democrats. This decision was never taken by the NWC. That is just an information, not an issue that was discussed by the NWC. Just recently, the northern governors had their meeting. We, as members of the NWC, are with the governors on what they have said.”

governors elected on the platform of the APC moved in to reaffirm their positions on the need to cede the presidency to the South. The governors also scheduled a meeting with Adamu at the party’s secretariat. But Adamu shunned the planned but impromptu meeting with the APC governors. The governors left the party secretariat for his house after about one hour. However, the Governor of Ondo State, Rotimi Akeredolu said Adamu was on a frolic of his own by taking a flight of fancy and decided to make a pronouncement beyond his competence. He insisted that Adamu’s alleged pronouncement ran contrary to the position of the majority of Northern governors in APC and their counterparts in the South.

Northern APC Governors Intervention Following the atmosphere of confusion created by Adamu, the Northern

Not satisﬁed with tongue-lashing Tinubu for his outburst which the APC National Chairman used as an excuse stop his bid to get the party’s presidential ﬂag, Adamu went ahead to pull a stunt when he told members of National Working Committee (NWC) that Buhari had endorsed Senate President, Ahmad Lawan as the consensus candidate of the party, against the known but unwritten arrangement that the presidential ticket should be ceded to the South

Buhari Denies Endorsing Lawan At the nick of time, the President saved the day when he cleared all doubts about where he stands on the choice of a presidential candidate. He told the party’s 14 governors of northern states that he has “no preferred candidate,” and has “anointed no one”. He insisted that he was determined to ensure that “there shall be no imposition of any candidate on the party.” The President said he had a clear mind about what he was doing and asked the APC governors to feel the same way: “You were elected as I was. Have a clear mind as I have. God gave us the chance; we have no reason to complain. We must be ready to take pain as we take the joy. Allow the delegates to decide. The party must participate, nobody will appoint anybody.” Tinubu’s Master Stroke While confusion reigned in the ruling party, Tinubu and some South-west elders were busy meeting with presidential aspirants from the region to queue behind Tinubu. The meeting made a major breakthrough when news filtered into the air on Tuesday evening that the Governor of Ekiti state and a presidential aspirant of the party, Dr. Kayode Fayemi had stepped down. The official announcement was delayed till the night of the convention when the aspirants were asked to woo the delegates with a-five minute presentation. Fayemi’s decision to step down was the final stroke that secured the victory Continued on page 29

T H I S D AY ˾ MONDAY JUNE 13, 2022

MONDAY DISCOURSE

With Dauda Bello as His Running Mate, Can Tinubu Soar Like Abiola? On June 12, 1993, the marriage of a Yoruba and Kanuri, Chief Moshood Abiola and Ambassador Babagana Kingibe gave Nigeria its acclaimed freest and fairest election. Thirty years after, with a possible Bola Tinubu-Dauda Bello combination are the gods jointly making a secret plan to have another freest and fairest election, asks Nseobong Okon-Ekong

ith its internal quest for a flag-bearer done and dusted in Abuja last week, Nigeria’s ruling All Progressives Congress (APC) will naturally shift its focus to selecting a befitting runningmate for its Presidential Candidate, Senator Bola Ahmed Tinubu. In this search to pair up Tinubu with a capable co-pilot for his party’s flight to the 2023 polls, three qualifications must naturally spring to the mind of those saddled with this responsibility. Being from the South-west, Tinubu would need a running-mate from not just the North but the North-east in particular, because that zone has never produced a civilian occupant in Aso Rock, Nigeria’s throne room. Being an elderly candidate, Tinubu would need a partner appealing to the youth and satisfy that demographic clamour for a generational shift and generational representation in governance. Being from the Action Congress of Nigeria (ACN) tendency within APC, the Presidential Candidate will need to balance out the ticket by co-opting someone representing the party’s second wing, President Muhammadu Buhari’s springboard platform, the Congress for Progressive Change (CPC). So far, one man will comfortably fit these prerequisites. Originally, Dr. Ibrahim Bello Dauda had thrown his hat into the ring as a contestant for the APC presidential ticket. However, he pulled back when unmistakable signals revealed that the President and the party would settle for none but a Southerner as its standard-bearer. For this reason, this Management Consultant did not even bother to purchase the N100 million nomination forms. Being a stickler for party supremacy and collective arrangements, he chose not to follow the trail of some recalcitrant Northern aspirants who forged on and ended up on the wrong side of the party’s rotational principle. Despite having to lower his ambition, however, Dauda still burns with his original zeal to lift Nigeria and Nigerians out of the doldrums. His integrity, youthfulness, resourcefulness and political sagacity may just be what Tinubu needs. In the Trenches with Buhari in ANPP, CPC Despite just being 50 years this month, Dauda easily ranks as a veteran of the struggle. Between 2003 and 2007 he had served in Buhari’s ANPP as the Plateau State Coordinator of The Buhari Organisations (TBO), a support group for the party’s Presidential Candidate. Later, he worked within the Congress for Progressive Change (CPC), founded by Retired-Major General Muhammadu Buhari in 2009 as a vehicle to vie for the presidency in the April 2011 elections. That dream tanked. However, Dauda had in CPC served as a member of the National Convention Committee in 2013, Executive of the National Registration and Membership Committee in 2013. Subsequently,

of the world. He as well has about 13 honorary awards and decorations. He currently sits as President of the Platinum Vault Group of Companies that he co-founded in 2015. As its head and Chief Executive Officer, Dauda has turned the firm into an octopus that has blossomed into 10 companies with tentacles in oil and gas, agriculture, mining, power generation, telecommunications, logistics, construction, business and management consulting. As Chairman of the board, he oversees four vice presidents who handle: Corporate Services, Finance, Business Development and Operations.

Bello

Dauda followed his hero when CPC joined forces in 2013 with the Action Congress of Nigeria (ACN) and other interests to establish APC. Here too, Dauda served in 2014 as National Secretary of the Buhari Support Group Centre (BSGC) and National Coordinator of the Buhari Support Organisations (BSO). Later, in 2019 he became National Secretary of the APC Women and Youth Presidential Campaign Team, Member of the Support Groups Directorate of the APC Presidential Campaign Council and Director of Operations to the Buhari Support Organisations. It all paid off when the APC alliance successfully wrested power from the ruling Peoples Democratic Party (PDP) in 2015. Who is Dr. Ibrahim Bello Dauda? A Kanuri, whose lineage traces its roots to Gora Town in the Shani Local Government Area of Borno State, Dauda began life in Jos North area of Plateau State, where he was born on June 3, 1972. Beginning education at Roman Catholic Mission Primary School Giring Abattoir Jos, Plateau State, he later attended Army Secondary School Chindit Barracks Zaria. He returned to Jos to study Accountancy at the School of Accountancy and Management Studies (PSAMS) and acquired OND and HND qualifications in Financial Management and Accountancy. Academically, this AccountantAdministrator comes eminently qualified. He obtained his doctorate degree in Business Administration from the Cornerstone University in Israel, and has no fewer than 27 professional and academic certifications from Nigeria, several African countries, America and other parts

Philanthropy and Human Capital Development A tireless philanthropist, he is President of the Almajirai Empowerment Foundation (AEF), established to assist the over 10 million Almajiri children in Nigeria and help equip them with education, reorientation and skills acquisitions. He is also the Director General of the Sahelian Centre for Leadership and Development, and is focused on the mentoring and development of young people. It serves too as a centre of excellence on policy, strategy and development. Endorsements Dauda’s track record in three decades of social networking has made him a darling of Nigerians from several works of life. In fact, they actually piled pressure on him to seek political leadership. Groups and individuals are falling over themselves to endorse his politics –from youth groups, to artisans, to farmers, to ethnic groups and religious organisations. They pray for him to rise to the commanding heights of national service. Of him, the Yoruba General Assembly (YGA) said: “Dr Ibrahim Bello Dauda’s humane character and humility have endeared him to us all. The ancestral and distinguished Yoruba General Assembly Worldwide, having gone through his antecedent and pedigree, cannot but stand out firmly today to endorse him publicly and to assure you that we will mobilise our people and ride with you all the way!” Signing to his political elevation, also, is the Coalition of Nigeria Youth Leaders (CNYL). This is an umbrella having within its ranks several youth civil society groups, notably: National Youth Council of Nigeria, Creative Centre Against Poverty and Underdevelopment, Youth Advocacy for Credible Leadership, Youth for Peace and Security Development Initiative, Empowerment for Unemployed Youth Initiative and the North/South Youth Integrity Forum. Others on board include hardcore political wings, including the APC Youth Integrity Network, APC Youth Vanguard, APC Young Professionals Movement, APC Unity Group for Goals, APC Youth Support Group for Better Nigeria, Muhammadu Buhari Youth Emancipation Strategic Movement, as well as Partners for Legislative Agenda in Nigeria. Describing Bello as a young adult imbued with impeccable leadership credentials, the group offered, “Having identified a young

Nigerian of unassailable leadership credentials, we find it right and righteous to choose and stick with our own for the job of the Nigerian presidency. This endorsement is not just about being young. It is about possessing the requisite credentials and capacity to lead the country at a time that dynamic and digital leadership is most desirable.” Ude-Umanta, spokesman for the coalition, at a press conference earlier this year, publicly reminded President Muhammadu Buhari that in assenting to the “Not Too Young To Run Bill (now Act),” he had sought the youth’s support, promising to reciprocate in due course. “That was a promissory note and cheque,” Ude-Umanta said. “It is time to cash it and there should not be any bankruptcy about it. We hereby remind Mr. President and the APC of this promise, and we urge them to honour it now that the youths have presented somebody who is eminently qualified to lead. He will no doubt ensure massive youth support for the party; and victory in the 2023 elections would have been assured before voting starts.” The All Farmers Progressive Association (AFPA) that strings together agriculturists from various regions also vouch for him. AFPA National President, Chief Ogbo Joseph Douglas, said in a statement, “We have decided to endorse and stand by Dr. Dauda as the candidate that can guarantee Nigeria’s resurgence as an agricultural power house and leader in the comity of agriculture exporting nations. Anywhere he goes, we go with him... we will vote for his party.” His cosmopolitan outlook also won the heart of the Northern Christian Group. It has had the same effect on Nigerian students, who under the aegis of the Coalition of Students Bodies, also, expressed their love, saying, “After due scrutiny of all and sundry contenders for the highest office in the land, we have found one man that has shown a rare light on our path through his professionalism, his politics, his sagacity, diligence, charisma and love for country.... Having a tested and trusted capacity and competence, we believe that he possesses the intellectual dexterity and calibre to restore Nigeria’s lost glory by grappling head on with the multiple crisis bedeviling the country, from the tertiary education and ASUU crisis, persistent insecurity, economic development, youth empowerment and job creation, fighting corruption, among others.” The June 12 Coincidence Coincidentally, Dauda and Tinubu will have the same combination as the ticket that produced the world-acclaimed June 12 free, fair and credible election won by Bashorun Moshood Kashimawo Olawale Abiola. Like Abiola’s running-mate and Vice President-elect, Ambassador Baba Gana Kingibe, Dauda hails from the Kanuri stock in the North-east state of Borno. A marriage of Yoruba and Kanuri gave birth to June 12 in 1993. Who doubts that the same combination will work 30 years later in 2023? In a Tinubu-Dauda ticket, are the stars just conspiring to make Nigeria’s freest, fairest election happen again?

How Tinubu Survived Adamu’s Sordid Schemes that was already in sight. Other Aspirants Step Down Aside Fayemi, other aspirants that stepped down for Tinubu included, the former Minister of Nigeria Delta Affairs, Senator Godswill Akpabio, the former Governor of Ogun State, Senator Ibikunle Amosun, former Speaker of the House of Representatives, Hon. Dimeji Bankole, Governor of Jigawa State, Abubakar Badaru and the only female aspirant, Uju Ohanenye. They all stepped down for Tinubu.

Adamu’s Attack on NWC Members After his failed coup, Adamu while still nursing his bruises launched a tirade of abuse on other members of the NWC at the convention ground. He said washing the party’s dirty linens outside was irresponsible. According to him, “On the 20th of April this year, I drew the attention to the need for our party to be disciplined…

that a political party such as APC, the ruling party, at the heart of our national development must be exemplary, disciplined and have fidelity in its core values. Washing our dirty linens in the public is not a mark of courage, it is a mark of irresponsibility, indiscipline and indiscrimination to obey extant rules and regulations and play by them.” With Tinubu’s victory, Adamu was forced to eat the humble pie when he said his victory has vindicated the ruling party’s nationalistic outlook and

patriotic posture. He said: “I present to Your Excellency, Senator Bola Ahmed Tinubu, my compliments and those of the members of the National Working Committee of the All Progressives Congress, in the best of traditions. Your victory has vindicated our party’s nationalistic outlook and patriotic posture as the party of choice for every Nigerian. I am pleased that the party spoke with one voice when the delegates voted overwhelmingly to nominate you as our presidential candidate.”

T H I S D AY ˾ MONDAY JUNE 13, 2022

CITYSTRINGS

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

Harrowing Activities of Terrorists in Zamfara Despite efforts by Governor Bello Matawalle to tackle insecurity in Zamfara, the state remains a hotbed of terrorists, writes Francis Sardauna

or over twelve years now, residents of Zamfara State, particularly peasant farmers, have been experiencing different forms of crimes ranging from armed banditry, cattle rustling, kidnapping and arson orchestrated by marauding terrorists who operate in broad daylight in farming villages and communities across the state. The nefarious activities of the terrorists began like the usual perennial clashes between herders and farmers after harvesting of farm products especially where farm products were not moved out from the farmlands. This scenario often resulted in deaths of either the Hausa farmers or the Fulani herders in most parts of the state. Although there are conflicting accounts of how the hitherto herders/farmers' skirmishes turned deadly in the state, security experts from the state believe that it all began in Dansadau community of Maru Local Government Area of the state where the Hausa who, in their quest for farmlands, reportedly indiscriminately encroached into cattle routes and grazing reserves and that triggered friction between them and the Fulani herders. Credible reports also indicate that a former District Head of Dansadau, Alhaji Shafiu Salihu, further ignited the problem after he authorized a self-defense outfit called ‘Yan-Sakai’ to kill any thief even if it was a chicken or goat he stole. The activities of the outlawed group apparently prompted the Fulani herders to join forces against its members who were predominantly Hausa people. It took a different dimension when some of the Fulani herders in the community formed their enclaves in adjoining forest between Zamfara, Katsina and Kaduna and started moving around Zamfara communities in broad daylight brandishing their AK 47 rifles and other sophisticated weapons. As they moved freely, they told the villagers to mind their businesses and not interfere with theirs or risk being killed. Today, there is no part of the state that is not affected by either banditry or abduction for ransom. The socio-economic activities of the state have been negatively affected because thousands of shops and houses had been destroyed by the rampaging terrorists who displaced thousands of rural dwellers from their places of abode. Consequently, residents of the state, particularly those living in frontline local governments, are now in perpetual fear. Even when they go to bed to sleep; they are afraid to close both eyes because many have been violently killed in their sleep and their houses razed. Educational activities are grounded in most local governments following the closure of many primary and secondary schools by government due to the prevailing terrorists' attacks on learning facilities in the state. Several communities have been destroyed and attempts to go to farms have become life-threatening ventures even as thousands of domestic animals have been rustled and farmers displaced from their ancestral homes in Tsafe, Anka, Zurmi, Shinkafi, Bukkuyum, Maru, Bakura, Bungudu, Kaura Namoda and Birni Magaji Local Government Areas of the state. Our correspondent, who visited the state, reports that in Tsafe for instance, residents of Magazu, Keta, Kizara, Danjibga, Bilbis, Kucheri, Yankuzo and Yanwaren Daji and Marke communities have fled their homes over the incessant raids and attacks of the armed terrorists who operates mostly in broad daylight. Terrorist attacks in Tsafe are more frequent than in other parts of Zamfara, which is plagued by worsening insecurity. The story is not different in Anka Local Government because residents of Yargalma, Bagega, among other communities, have vacated the villages to other communities perceived to be safe by them. In Bungudu, Gada, Nahuche and Kekun Waje communities have become a safe-haven for the criminals and animals as inhabitants fled to the local government headquarters for safety. In Zurmi, the nefarious activities of the monsters had forced hundreds of residents of Gurbin Bore, Magarya, Rukudawa, Dunburum, Dauran, Gisan Jaja and Moriki to leave their ancestral homes. In Bakura, residents of Dambo, Damri and Dakko communities are currently taking refuge in the headquarters of the local

Gov Bello Matawalle government as internally displaced persons (IDPs). While thousands of peasant farmers in Sakajiki, Kuryar Madaro, Magizawa, Tubali, Katuru, Shanawa, Birnin and Yero communities in Kaura Namoda and Shinkafi Local Government Areas respectively have left their farmlands as well as houses and become tenants in other cities across the state. Thus, the throes of anguish that have enveloped residents of the affected communities are at a level that is nigh unimaginable. The fear and hurt families go through over the loss of a member that make up the more than 3000 reported deaths makes the killings way more than a little violence. Besides, some communities in the state have that sombre, ghoulish look with their inhabitants unsure of their safety. These citizens are uncertain of far too many things: if their husbands at the farm would make it back home safe; if they would make it through the night without a saw cutting through their door with terrorists barking orders. Notably, the abduction of 279 schoolgirls from Government Girls Science Secondary School, Jangebe, in Talata Mafara Local Government Area of the State on February 26, 2021, was one of the major attacks by terrorists that placed the state on national and international stage negatively. In fact, the tales of the hollowness caused by deaths and kidnappings are numerous as it has remained a daily occurrence in

almost all the 14 local government areas of the state. Meanwhile, Governor Bello Mohammed Matawalle has adopted a carrot and stick approach to curb the security challenges. At some point, he tried the line of dialogue and encouraged terrorists to surrender their arms. He equally shut down telecommunications services across the 14 local governments of the state and suspended mining activities. He also constituted a Peace and Reconciliation Committee with membership drawn from different security agencies, government and traditional institutions. He dethroned some traditional leaders who were alleged to have been aiding the terrorists in their chiefdoms. The dethroned traditional leaders are the Emir of Zurmi, Abubakar Atiku and the Emir of Dansadau, Hussaini Umar. The District Head of Birni Tsaba, Sulaiman Ibrahim, was also suspended by the government for similar acts. The state Commissioner for Information, Mr Ibrahim Dosara made the announcement at the end of the State Executive Council meeting in Gusau. According to him, the government has also ordered that all land titles issued by the affected traditional leaders be revoked. “The State Executive Council has also directed the state Ministry of Justice to issue an executive order to back up the council’s resolution,” he added. Unfortunately, all these security measures taken by Governor Matawalle to end the

Consequently, residents of the state, particularly those living in frontline local governments, are now in perpetual fear. Even when they go to bed to sleep; they are afraid to close both eyes because many have been violently killed in their sleep and their houses razed

bloodbath in Zamfara State have not provided the desired results as the motorcycle-riding terrorists are gradually spreading their mat of heinous activities to all parts of the state, including Gusau, the state capital. Unarguably, police and troops as well as local vigilante groups continue to carry out operations in the state in order to ward off the scourge, but terrorists' leaders like Dogo Gide who was born and raised in Babbar Doka village under Dansadau District and the notorious Ali Kachalla from Madada village under the same district are still launching deadly invasions on communities across the state. Investigation by THISDAY further revealed that the terrorists have a permanent route in Gidan Giye along Tsafe-Funtua highway where they cross everyday in broad daylight to their enclaves after hours of sting operations in some communities of the state. Sometimes, they force motorists plying the ever-busy road to stop and allow them to pass or risk being killed. Evidently, on February 2, 2022, the armed terrorists, numbering about hundreds, blocked the Tsafe –Funtua road along Gidan Giye at about 3:45 p.m and robbed innocent commuters of their belongings and warned them against calling security personnel. When the hoodlums run short of arms and need funds to procure more, they kidnap helpless travellers on the highway and make fortunes from their families in ransom. Sadly, security agencies have not been able to tame these daredevil men terrorising communities in the state without a definite ideology in spite of the different operational approaches that both the police and army have launched in recent times. Therefore, whatever the government of Matawalle is doing towards the development of the state is arguably been overshadowed by the activities of these terrorists' leaders who are said to have recruited hundreds of unemployed youths into the nasty business. These criminals have taken delight in snuffing life out of innocent and helpless villagers and destroying their properties in the state.

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T H I S D AY MONDAY JUNE 13, 2022 Monday June 13, 2022 Vol 27. No 9927 TR

See page 32

HAPPY DEMOCRACY DAY NIGERIA! TIMI OLUBIYI argues that e-governance and the use ICT will make government services easily available to the public See page 32 NATIONAL INTELLIGENCE AGENCY AT 36 WALE OLOKO pays tribute to the pioneering officers of the NIA See page 33 JUNE 12 AND THE SOCIAL DEMOCRATIC PARTY Can the SDP bounce back after 30 years? asks MARTIN IORSAMBER

See page 33 EDITORIAL AS EKITI STATE GOES TO THE POLLS…

See page 34

& RE A S O

opinion@thisdaylive.com

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OBI AND NIGERIA’S CRITICAL CHOICE It is time to seek a new beginning, writes ANTHONY OLISA OKOLO

UT H

There is remarkable improvement in security around the airports nationwide, writes DAN AIBANGBE

FAAN: BRACING THE CHALLENGING TIMES At the inception of this administration, the challenges were daunting, but the enthusiasm of Captain Yadudu, helmsman at the Federal Airports Authority of Nigeria (FAAN), was infectious. It was obvious that the Minister for Aviation, Hadi Sirika and his team had made a good choice in the incumbent. Hadi Sirika made clear his expectations in the three areas of VWDͿ GHYHORSPHQW LQIUDVWUXFWXUH XSJUDGH DQG expansion as well as equipment modernization. Today, we can clearly showcase the milestones and future deliverables with boldness and a great sense of achievement. in an earlier article titled ‘New Era in Nigerian $YLDWLRQ %HFNRQV )$$1 +HOPVPDQ 3RLVHG to Consolidate on Industry’s Milestones’, I was able to survey the sector using the tripodal tool of human capital, infrastructure, and protocol (that is, policies, processes and procedures). At that time, I was able to obtain the clear plans and purposes of the new administration. And in a follow-up at about the end of the second year of the life of that administration, I wrote ¶0HWDPRUSKRVLV RI )$$1 7ZR <HDUV 8QGHU Captain Rabiu Yadudu’ where I compared results and the status to what was obtainable abroad. We all know that in aviation, safety and security are sine qua non. Without any doubt, there has been great improvements in terms of the overall security architecture and most of the aviation facilities nationwide. Notable improvements observed here are the automated luggage scanners and the Corp of Specialist Aviation Security Agents (AVSEC). The training facility for WKLV VHW LV ,&$2 &HUWLÀHG DQG FDQ VHUYH ERWK WKH local personnel and international trainees! The protocols deployed around the services are also aligned to international best practice, with the ideals of customer-centrism as the focal point. Within the last 365-day period, FAAN has WUDLQHG DQG FHUWLÀHG $96(& 3HUVRQQHO DW WKH newly accredited local training facility. In fact, the graduation of 67 FAAN Aviation Security 2΀FHUV DIWHU WUDLQLQJ RQ ,&$2 VWDQGDUG 673 %DVLF DQG 5HIUHVKHU &RXUVH WR LPSURYH OHYHO RI VHFXULW\ DW DLUSRUWV LV YHU\ VLJQLÀFDQW LQ WHUPV of foreign exchange conservation, prestige for the domestic industry and the opportunity to grow this cadre of specialized personnel at will. An unprecedented number of 4,500 personnel, constituting at least 50% of the workforce underwent various degrees of training within ODVW \HDU 7KH GLYHUVH ÀHOGV UDQJH IURP VDIHW\ WR VHFXULW\ WR ÀUH DQG HYHQ SXUH HQJLQHHULQJ Beyond this, a select number are actually being developed as professional instructors under the auspices of ICAO and the Airport Council ,QWHUQDWLRQDO FHUWLÀFDWLRQV 7KLV LGHD LV WR HQVXUH that world-class training is cascaded down to the entire workforce on a continuous and sustainable FRVW LQ WKH ÀUVW LQVWDQFH 6HFRQGO\ LW LV DLPHG at ensuring that Nigeria becomes the expert resource base for the Africa Aviation Region for ICAO and the Airport Council International &HUWLÀFDWLRQV Another audacious development relating to

human resource improvement is the open-door approach to training needs analysis. The entire VWDͿ LV HQFRXUDJHG WR H[SRVH WKHLU NQRZOHGJH DQG VNLOO GHÀFLHQFLHV LQ FRPSDULVRQ WR ZRUOG best practices to enable cogent development. In fact, questionnaires have been developed and administered to reveal knowledge and skills gaps which have helped fashion the appropriate training courses required to bridge the gaps. The immediate result has been the harvest of about seven international awards and recognitions ZLWKLQ WKH ODVW PRQWKV )RU LQVWDQFH $EXMD Airport now ranks among the top three in airport service quality in Africa, as well as ACI recognition in safety and the human resource award for diversity with the largest percentage of ZRPHQ VWDͿHUV The attention being paid to human capital GHYHORSPHQW LQ WHUPV RI VWDͿ PRWLYDWLRQ DQG general well-being has started yielding better results. For example, the FAAN Football team, ZRQ WKH *ROG DW WKH )HGHUDWLRQ RI 3XEOLF 6HUYLFH *DPHV )(36*$ )$$1 DOVR ZRQ WKH Lateef Lawal Award for Airport Manager of the <HDU DW WKH WK /$$& &RQIHUHQFH 'XULQJ WKH same period, four of the airports successfully underwent the Airports Council International $&, $LUSRUW +HDOWK $FFUHGLWDWLRQ 3URJUDPPH 7KH )$$1 0' FRQVLGHUV WKH RSHQ GRRU SROLF\ as a catalyst for systemic development to be his PRVW LPSRUWDQW DQG VLJQLÀFDQW DFKLHYHPHQW A new level of noticeably higher level of transparency and accountability has been ushered into FAAN human resource system. The hitherto

The organisation has now ensured that the entire workforce is tuned to competing with the world on technical know-how, rather than just being local champions

centralized medical supplies system has been decentralized, resulting in greater responsiveness and elimination of wastages in terms of expired or redundant drugs. Today, each airport has its RZQ WHDP RI HOHFWHG VWDͿ ZHOIDUH FRPPLWWHH FKRVHQ ZLWKRXW VHJUHJDWLRQ DPRQJ WKH GLͿHUHQW cadres. These committees ensure transparency in medical supplies distribution, safety, security and environment. The organization has now ensured that the entire workforce is tuned to competing with the world on technical know-how, rather WKDQ MXVW EHLQJ ORFDO FKDPSLRQV $QRWKHU H[WHQGHG DVSHFW RI VWDͿ ZHOIDUH LV WKH establishment of scholarship scheme to sponsor WKH XQLYHUVLW\ HGXFDWLRQ RI WKH EHVW ÀYH VFKRODUV in each of the four aviation administrative UHJLRQV LQ WKH FRXQWU\ $V VXFK ZH QRZ KDYH new FAAN scholars every year! On the aspect of human resource assurance and safety, FAAN is now partnering with Global Safety Network to develop a robust DQG FRPSUHKHQVLYH VHOI VX΀FLHQW V\VWHP IRU engaging and managing all risks associated with personnel recruitment and availability across all functional areas. The arrangement covers training of FAAN internal personnel for deploying and managing the entire system knowledge-base that is recognized as global standard. On the side of physical infrastructure, the present regime has made no pretensions on its intentions to return the nation to its glorious days. Adequate attention has been paid to transportation in general –roads, rails, water and air. The investments have been huge. So has been the result. Existing infrastructure such as terminals, runways, hangars, fences and equipment have all received the required attention. Some have required redesign; other additions and many fresh locations are springing up. In fact, it is clear that Nigerian aviation is witnessing a boom. Among the plethora of physical improvements and additions which occurred in the last 365 days alone, the automation of Murtala Muhammed $LUSRUW·V +DMM &DUJR 7HUPLQDO $FFHVV *DWH Commissioning of the Birds and Wildlife 0DQDJHPHQW (TXLSPHQW 1HZ ÁHHW RI 9,3 DLUVLGH buses for Nnamdi Azikiwe International Airport, $EXMD 8SJUDGH IURP 6,7$ WR $LUOLQJWRQ 5(6$ &KHFNLQJ 6\VWHP 6HYHQ 8QLWV RI 3DVVHQJHU capacity co-buses for Nnamdi Azikiwe ,QWHUQDWLRQDO $LUSRUW $EXMD &RQVWUXFWLRQ RI &DUJR 7HUPLQDO DW WKH 3RUW +DUFRXUW ,QWHUQDWLRQDO Airport, Omagwa, Rivers State; completion and commissioning of the second international terminal at MMIA, Lagos; rehabilitations of restrooms at Nnamdi’s Azikiwe International $LUSRUW $EXMD FRPSOHWLRQ DQG FRPPLVVLRQLQJ RI DLUOLQH R΀FHV VFKRRO EXLOGLQJ IXOO\ HTXLSSHG OLEUDU\ FRPSXWHU URRP VWDͿ TXDUWHUV ERUHKROH DW the Margaret Ekpo International Airport, Calabar deserve special mention.

Aibangbe, a Media and Public Relations Consultant, writes from Lagos

2 32

T H I S D AY

It is time to seek a new beginning, writes ANTHONY OLISA OKOLO

OBI AND NIGERIA’S CRITICAL CHOICE :H EHOLHYH WKDW WKH LVVXHV LQ WKH national election cut across ethnic, religious, DQG SDUW\ OLQHV 1R QDWLRQ LQ KLVWRU\ KDV HYHU VXUYLYHG WKH PXOWLSOH VHFXULW\ WKUHDWV GHSULYDWLRQV GLVFULPLQDWLRQ DQG FRUUXSWLRQ WKDW KDYH EHFRPH WKH KDOOPDUN RI WRGD\·V 1LJHULD $OO DURXQG WKH IHGHUDWLRQ WKH ÁRZHU RI RXU \RXWK LV SD\LQJ WKH SULFH IRU RXU JRYHUQPHQW·V SRRU GHFLVLRQV :H DUH VXͿHULQJ FULSSOLQJ IXHO VFDUFLWLHV a crashing Naira and a rising double digit LQÁDWLRQ 7KH SROLFH GR QRW SURWHFW WKH citizens and our universities are shut due to un-ending strikes. Insecurity is the watch word everywhere, yet our rulers say ZH VKRXOG WUXVW WKHP WR NHHS WKH SHDFH , wonder who among the many who have died in killings, train massacres, or at Owo, DW WKH KDQGV RI VSRQVRUHG EDQGLWV WKLQNV

WKHUH LV D SHDFH WKDW VKRXOG EH PDLQWDLQHG" 7KHUH FDQ EH QR UHDO SHDFH ZKLOH RQH 1LJHULDQ LV G\LQJ RU ZKHQ JURXSV RI LQGLJHQRXV QDWLRQDOV DUH VWULSSHG RI WKHLU rights. It is time we asked ourselves if we still NQRZ ZK\ ZH IRXJKW IRU LQGHSHQGHQFH $UH ZH OLYLQJ WKH IUHHGRPV WKDW ZHUH intended for us by the founding Fathers RI WKLV JUHDW QDWLRQ" :LOO 7DIDZD %DOHZD 1QDPGL $]LNLZH 2EDIHPL $ZRORZR DQG ,VDDF $GDND %RUR UHFRJQL]H WKH VKDOORZ DQG ZHDN SHRSOH ZH KDYH EHFRPH" 7KLV SDWK LV not the one that they meant for us, and we must correct course. Democracy as an ideal that government LV EHKROGHQ WR WKH SHRSOH LW KDV QR RWKHU VRXUFH RI SRZHU H[FHSW WKH VRYHUHLJQ SHRSOH DQG LW LV VWLOO WKH QHZHVW DQG WKH PRVW unique idea in all the long history of man’s relation to man. Democracy as an ideal, FDQ RQO\ EH DFKLHYHG ZLWK HTXLW\ MXVWLFH and fairness as its foundations. In the context of our federation, where our futures have been decided for us for so long, by a FRUUXSW PLOLWDU\ HVWDEOLVKPHQW ZLWKRXW WKH FRQVHQVXV RI WKH SHRSOH WKHVH YLUWXHV DUH HYHQ PRUH LPSRUWDQW We shall decide in the next election: Whether we structure our nation on the SULQFLSOH WKDW WKH PRVW YDOXDEOH UHVRXUFH ZH KDYH IRU RXU SRVLWLYH GHYHORSPHQW LV WKH SHRSOH DQG WKHUHIRUH WR EXLOG D QDWLRQ that works for and achieves our beliefs IRU WKH IXWXUH RI RXU SHRSOH 2U ZKHWKHU ZH FRQWLQXH RXU GRZQZDUG VSLUDO LQWR ROLJDUFK\ ZKHUH WKH VDPH UHF\FOHG SROLWLFDO URJXHV RI RXU LQJORULRXV SDVW ZLOO VHOHFW themselves as overlords over us. Sadly, there DUH PDQ\ RI XV OLNH VKHHS ZKR GHVSLWH WKH IDFW WKDW WKH\ WRR IHHO WKLV ELWLQJ KDUGVKLS have embarked on this downward course.

7KH ROG JXDUG RI SROLWLFLDQV KDYH QRWKLQJ WR RͿHU XV 7KH\ DUH ROG VLFN LQ PLQG DQG ERG\ RXW RI WRXFK 7KHLU UKHWRULF LV HPSW\ DQG WKHLU DFWLRQV QHYHU PDWFK WKHLU ÁRZHU\ words. It is time to move beyond their hold RQ SRZHU DQG WR VHHN D QHZ EHJLQQLQJ :H must end this system. <RXQJ SHRSOH DUH VKRZLQJ WKDW ZH DUH XS WR WKH WDVN 7KLV QHZ JHQHUDWLRQ LV ÀOOHG ZLWK WKH VSLULW RI ´1$,-$µ ZKLFK UXQV WKURXJK WKH YHLQV DQG DUWHULHV RI RXU SHRSOH 7KLV VSLULW DOORZV RXU SHRSOH WR SURXGO\ KDUQHVV our similarities for good, but not without UHVSHFWLQJ WKH GLͿHUHQFHV ZKLFK PDNH HDFK indigenous nationality unique. To do things GLͿHUHQWO\ ZH PXVW GHVWUR\ ROG P\WKV VROG WR XV E\ WKLV FRUUXSW PLOLWDU\ HVWDEOLVKPHQW and their civilian successors. (YHU\ZKHUH 1GLJER VRMRXUQ ZH SD\ IDLU SULFH IRU WKH ODQGV ZKHUH ZH OLYH DQG work and have committed all our resources to building estates, towns, and markets all across the federation. Like every decent and honest Nigerian, we too have everything WR JDLQ LQ D IHGHUDWLRQ WKDW HQMR\V SHDFH VWDELOLW\ DQG SURVSHULW\ ,W LV WKLV \HDUQLQJ IRU D SURVSHURXV MXVW DQG HTXLWDEOH 1LJHULD WKDW ZRUNV IRU HYHU\RQH QRW MXVW WKH fortunate few; that informs our desire for a national rebirth, led by men and women of SULQFLSOH 7KLV LV ZK\ ZH DUH QRZ SUHVHQWLQJ WR \RX 3HWHU 2EL +H UHSUHVHQWV DOO WKH SRVVLELOLWLHV WKDW ZH KRSH IRU RXU IHGHUDWLRQ +H ZLOO break this myth that Nigeria’s diversity cannot be harnessed to create a new vision for all of us. He is mindful of the national rebirth that is necessary to return Nigeria to DOO LWV FRQVWLWXHQW SDUWV +H LV RQH RI XV 21( RI XV ZKR ZLOO EUHDN WKLV P\WK WKDW Nigeria’s diversity cannot be harnessed to create a new vision for Nigeria, one that IRFXVHV PRUH RQ GHYHORSLQJ RXU YDVW KXPDQ FDSLWDO DQG IRFXVHV OHVV RQ EHLQJ WKH HUUDQG ER\V WR IRUHLJQ SRZHUV 2QH RI XV ZKR ZLOO DOORZ WKH SUHVV LWV IUHHGRPV WR UHSRUW DQG FULWLFLVH LQ SURPRWLRQ RI IUHH VSHHFK RQH who will diversify the economy to enhance RXU LQWHUQDO WUDGH %XLOGLQJ VHDSRUWV DQG WUDQVSRUW OLQNV DFURVV WKH IHGHUDWLRQ WR DOORZ JRRGV SURGXFHG LQ RQH SDUW RI the federation to be traded wherever it is QHHGHG TXLFNO\ VDIHO\ DQG FRVW H΀FLHQWO\ 2EL·V DGPLQLVWUDWLRQ ZLOO VXSSRUW WKH H΀FLHQW GLVWULEXWLRQ RI ZHDOWK WR WKH SHRSOH WR HQVXUH WKDW DQ KRQHVW ZDJH LV SDLG IRU DQ honest day’s work, and that the farmer gets fair value for their sweat, the teacher for their vocation and the civil servant for their duty. He is one of us who will be keen to SXVK 3ROLFH UHIRUPV WR HQG 6$56 DQG RWKHU TXDVL OHJDO VHFXULW\ RXWÀWV E\ IRFXVLQJ RQ WKH ZHOIDUH RI WKH SROLFH DQG LQFUHDVLQJ WKH quality of the force through training and education. 1GLJER KDYH IDLWK LQ \RX $QG ZH NQRZ WKDW GHHS GRZQ \RX KDYH IDLWK LQ XV :H NQRZ \RX ZLOO DFFHSW WKH EHVW ZH KDYH WR RͿHU DW WKLV WLPH 7RJHWKHU OHW XV VKRZ WKH world that we have the dignity and the right to make our own decisions and determine RXU GHVWLQ\ HDFK DW RXU RZQ SDFH Okolo, a lawyer and Vice President, Alaigbo Development Foundation, writes from Aberdeen, Scotland, United Kingdom

MONDAY JUNE 13, 2022

TIMI OLUBIYI argues that e-governance and the use ICT will make government services easily available to the public

HAPPY DEMOCRACY DAY NIGERIA! Democracy Day is observed to commemorate the country’s restoration of democracy in 1999, and it has become an annual event since. True democracy, on the other hand, comes when the environment HQFRPSDVVHV VDIHW\ DPSOH HFRQRPLF EHQHÀWV free, fair, and trustworthy voting system, as well as the decrease of the hydra-headed GL΀FXOWLHV PRVW QRWDEO\ WKH UDYDJLQJ SRYHUW\ DQG XQHPSOR\PHQW LQ WKH FRXQWU\ (OHFWURQLF governance is one of the methods that may be used to achieve full and true democracy. 7KH :RUOG %DQN GHÀQHV HOHFWURQLF governance as “the government’s use of information technologies (including Wide $UHD 1HWZRUNV WKH LQWHUQHW VRIWZDUH DSSOLFDWLRQV FORXG LQIUDVWUXFWXUH DQG PRELOH FRPSXWLQJ WR WUDQVIRUP UHODWLRQV VDIHW\ DQG communication with citizens, businesses, and other government agencies.” It may seem overwhelming, but if the nation is genuinely GHGLFDWHG H JRYHUQDQFH PD\ LPSURYH SXEOLF access to government services, information, GHSHQGDEOH VHFXULW\ DGHTXDWH RYHUVLJKW UROHV accountability, and regulations. To name a few, WKH VFRSH RI H JRYHUQDQFH PD\ LQFOXGH VLPSOH FLWL]HQ LGHQWLÀFDWLRQ H UHJLVWUDWLRQV H YRWLQJ H FRXUWV H SROLFLQJ H OLFHQVLQJ H WD[DWLRQ e-mobilization; e-education; e-service delivery; e-feedback; intelligence collection; and the DQDO\VLV RI SXEOLF ÀQDQFLDO UHFRUGV Passionately, governments around the ZRUOG DUH WDNLQJ VWHSV WR LQFRUSRUDWH WHFKQRORJ\ LQWR DOO JRYHUQPHQWDO SURFHVVHV ZKLFK LV D VHDPOHVV VHUYLFH RSWLRQ DV ZHOO DV a way to achieve a meaningful data-driven decision-making system at a low cost and with less human interactions, which ordinarily DLGV FRUUXSWLRQ DQG EULEHU\ :KDW LV WKH VLJQLÀFDQFH RI WKLV H JRYHUQDQFH" )RU H[DPSOH WKH JRYHUQPHQW FDQQRW IXOO\ SURYLGH VRFLDO infrastructure unless it knows the nation’s SRSXODWLRQ RU KRZ PDQ\ SHRSOH OLYH LQ WKH FRXQWU\ DQG LW FDQQRW DGHTXDWHO\ SURYLGH educational infrastructure until it has data on FKLOGUHQ 0RUH VR WKH QXPEHU RI DXWRPRELOHV URDG XVHUV XQHPSOR\HG \RXQJVWHUV DQG HYHQ the country’s unbanked and illiterate rates must be known for adequate and meaningful SODQQLQJ SXUSRVHV &LWL]HQ GDWD LQ P\ YLHZ LV D GHYHORSPHQW LQIUDVWUXFWXUH DQG D UHDO DVVHW WKDW WKH JRYHUQPHQW PD\ HPSOR\ WR increase economic well-being. Because it could WHOO XV D ORW DERXW KRZ SHRSOH DFW ZKDW WKH\ GR DQG KRZ WKDW DͿHFWV VRFLHW\ DV D ZKROH ,W LV ORQJ SDVW WLPH IRU DOO OHYHOV RI JRYHUQPHQW to think about how to use technology through e-governance in running the country. No doubt, Nigeria has the fastest growing information and communication technology PDUNHW LQ $IULFD SDUWLFXODUO\ LQ ÀQDQFLDO technology (FinTech), according to reliable records. However, the country still ranks ORZ LQ WHUPV RI SURYLGLQJ H JRYHUQDQFH services to its citizens. So, it is only necessary IRU WKH 1LJHULDQ JRYHUQPHQW WR DGRSW digital innovation and fall in line, like other FRXQWULHV ZKHUH WHFKQRORJ\ JUHDWO\ VXSSRUWV JRYHUQDQFH YLD H JRYHUQDQFH 0DQ\ FRXQWULHV and government agencies around the world rely more and more on electronic methods and WHFKQRORJ\ WR NHHS UHFRUGV SURYLGH VHUYLFHV and communicate with their citizens. Nigeria VKRXOG QRW EH DQ H[FHSWLRQ HVSHFLDOO\ EHFDXVH of the constant security issues. 1LJHULD KDV D ODUJH SRSXODWLRQ ZKLFK LV SURMHFWHG WR EH PLOOLRQ E\ ,W LV FOHDU WKDW GLJLWDO DSSOLFDWLRQV LQ QDWLRQDO SODQQLQJ are critical and unavoidable for the country to

achieve the needed growth and stability. Because current infrastructure is more likely to be overstressed in the absence of a reliable data-driven decision-making V\VWHP DQG DGHTXDWH VFLHQWLÀF SURMHFWLRQV So, e-governance and the use of information and communications technology (ICT) LQ JRYHUQPHQW RSHUDWLRQV DUH QHHGHG WR make government services more available WR WKH SXEOLF Therefore, if e-governance is fully LPSOHPHQWHG LW FDQ KHOS LQ WKH DUHDV RI VHFXULW\ GHIHQFH MXGLFLDU\ HFRQRPLF PRQLWRULQJ VRFLDO DQG QDWLRQDO SODQQLQJ DV LW UHODWHV WR GHPRJUDSKLFV HOHFWLRQHHULQJ and even tax administration. Furthermore, LI LPSOHPHQWHG GDWD VXFK DV RͿHQGHUV FULPLQDOV DQG YLRODWRUV· OLVWV PD\ VLPSO\ be shared and made available where necessary. This will aid in not having SHRSOH ZLWK GXELRXV FKDUDFWHULVWLFV RU criminals in areas they should not be. ,W LV LPSRUWDQW WR VWUHVV WKDW QR PHDQLQJIXO JRYHUQPHQW FDQ LPSURYH the lives and livelihoods of its citizens without reliable citizen data and a national GDWDEDVH SRUWDO $V LW VWDQGV D ODUJH number of Nigerians are still without JRYHUQPHQW UHJXODWHG LGHQWLÀFDWLRQ DQG WKLV LV D KXJH ULVN WR QDWLRQDO GHYHORSPHQW VHFXULW\ DQG SODQQLQJ ,Q UXUDO ORFDWLRQV DQG VRPH DUHDV SHRSOH DUH JHQHUDOO\ ERUQ grow, reach maturity, retire, age, and die without the government knowing or being aware of their existence. This should not be the case; birth data is crucial and should VHUYH DV WKH IRXQGDWLRQ IRU RWKHU W\SHV RI registrations and records in the country. $V WKLQJV VWDQG ZH PD\ KDYH DOO NLQGV RI IRUHLJQHUV SUHWHQGLQJ DQG FODLPLQJ WR EH Nigerians. 7KHUHIRUH LW LV D FOHDU DQG LQGLVSXWDEOH fact that to be able to govern with any degree RI PHDQLQJIXO LPSDFW WKH JRYHUQPHQW needs to be able to know and be able to identify not only its citizens but all other SHRSOH OLYLQJ ZLWKLQ LWV ERUGHUV ,W DSSHDUV QDWLRQDO LGHQWLÀFDWLRQ QXPEHU UHJLVWUDWLRQ alone cannot adequately achieve this without formally having a national census and resident survey. The government VKRXOG WKLQN DERXW H JRYHUQDQFH SROLFLHV HVSHFLDOO\ WKH H FLWL]HQ SRUWDO ZKLFK ZLOO PDNH LW HDV\ IRU SHRSOH DQG EXVLQHVVHV WR use all government services in the country. Thus, it is beyond doubt that the LPSOHPHQWDWLRQ RI H JRYHUQDQFH DQG D QDWLRQDO GDWDEDVH SRUWDO LV LPSHUDWLYH DQG FUXFLDO IRU QDWLRQDO GHYHORSPHQW 0RUH VR e-governance can smoothen the working SURFHGXUHV RI WKH JRYHUQPHQW DQG DOVR reduce crime and insecurity in the country due to the availability of intelligence and information for the government to use from time to time. If well managed, it will be extremely useful in administrative, OHJLVODWLYH DQG MXGLFLDO DJHQFLHV LQFOXGLQJ both federal and local governments). %HVLGHV H JRYHUQDQFH ZKHQ LPSOHPHQWHG ZLOO KHOS LQ GHYHORSPHQWDO SROLFLHV WR À[ RU DOOHYLDWH VRFLDO LVVXHV KHOS ZLWK LQHTXDOLW\ VRFLDO LQWHUYHQWLRQ LPSURYHPHQW DQG GHWHUPLQLQJ WKH UDWH RI XQHPSOR\PHQW LQ the country meaningfully, among others. Dr. Olubiyi is an Entrepreneurship and Business Management expert

333

T H I S D AY MONDAY JUNE 13, 2022

WALE OLOKO pays tribute to the pioneering officers of the NIA

NATIONAL INTELLIGENCE AGENCY AT 36 $W WKLV GL΀FXOW WLPH LQ WKH KLVWRU\ RI WKH country, it is a bit problematic to convince the average Nigerian that any arm of the security and intelligence agencies in the country is actually working and can be relied upon, if what they read and hear every day are kidnappings, beheadings and ritual killings. It is therefore a tough DVVLJQPHQW WR ZULWH D ÀWWLQJ WULEXWH WR WKRVH public servants that need to be celebrated especially when they have recently taken a bow from the services of the National Intelligence Agency (NIA), one of the foremost security and intelligence services in the country and perhaps worldwide. I have decided to pay tribute to the XQVXQJ SDWULRWV ZKR VXͿHU GD\ DQG QLJKW and keep awake both at home and abroad IRU XV WR EH DOLYH 7KHVH DUH WKH LQWDNHV

of the NIA, among whom are my friends WKDW KDSSHQHG WR EH SLRQHHU R΀FHUV RI WKH Service. I came to know one of them, the anchor upon which I have become close to a few. On that basis, I can testify to the fact that these are indeed gentlemen, in spite of what you read about the covert DFWLYLWLHV RI ,QWHOOLJHQFH 2΀FHUV ,Q P\ several assignments both at home and abroad, I have come in contact with them in tedious situations, never complaining but painstakingly carrying out their DVVLJQPHQWV ÀUVW WR HQWHU WKH IUD\ DQG WKH ODVW WR OHDYH WKH GDQJHU ]RQH 7KLV -XQH PDUNV \HDUV RI WKH creation of NIA by the administration of former Head of State, Ibrahim Badamasi %DEDQJLGD 7KH VHUYLFH UHPDLQV D SULGH RI the nation, unfortunately it cannot blow its trumpet. It has achieved much in the ODVW \HDUV &KHFN KLVWRU\ DQG ÀQG RXW DERXW 1LJHULD·V SHDFH HͿRUWV LQ &KDG DQG Somalia that paved way for Felix Malloum and Siad Barre to live and later died in 1LJHULD \RX ZRXOG ÀQG LQ 1,$ PRUH WKDQ D IRRWQRWH 7KH $JHQF\ ZDV WKH DUURZ head of the creation of the Committee of Intelligence and Security Services of Africa (CISSA). It can now compete favourably with the well-established intelligence agencies in the world. When the Attorney General of the Federation told the press on 29th June, 2021 that the security services of the country were instrumental in the apprehension of a fugitive outside the country, only discerning minds will attest to the counter intelligence operations that can RQO\ EH GRQH E\ WKH 6HUYLFH 7KH $JHQF\ has projected an image of respectability, professionalism and clandestinity until the one or two issues that have been

confronting the service lately. First, the Ikoyi saga of 2017 and secondly, the appointment and renewal of the tenure of the current Director General (DG). On these two issues, I rely on my “dependable sources” and can say for free that the Ikoyi incident cannot be described DV D VOHD]H DV JRYHUQPHQWV XVH LQWHOOLJHQFH VHUYLFHV IRU SXUSRVHV WKDW WKH FLWL]HQV PD\ not appreciate or understand. Also, the substantive DG did not retire from service because he failed promotion examinations. He did pass promotion examination, but was denied promotion because of limited vacancy for directors at the time. While NIA does not need any individual to defend it in the public domain since it is capable of doing so, it is pertinent to note that the Ikoyi saga was very much an unfortunate and regrettable occurrence. It was an inter-service rivalry taken too far and history will not forgive the traducers who in their haste to get recognition threw FDXWLRQ WR WKH ZLQGV DQG DOPRVW VDFULÀFHG entire institution which even if it was not in existence would still have been created. 7KLV LV EHFDXVH RI WKH GRFWULQH RI QHFHVVLW\ that any country worth its salt ought to KDYH DQ HͿHFWLYH LQWHOOLJHQFH DQG FRXQWHU LQWHOOLJHQFH VHUYLFHV $VN WKH FLWL]HQV of US, UK, Israel, Russia, South Africa, Ethiopia and you will get the answer. 7KH RQO\ UHJUHW DFFRUGLQJ WR P\ IULHQGV who were in service when the incident happened was that the then DG NIA did not order his men to use the superior weapons in their possession to defend the assets of the service, the same way Mr Lawal Musa Daura, former DG SSS did when the exuberant acting chairman EFCC directed the raid on the house of his immediate predecessor. At worst, there would have been a shootout and casualties on both sides and at best tactical withdrawal. I guess, lessons have been OHDUQW DQG WKH $JHQF\ ZRXOG GHÀQLWHO\ KDQGOH WKH VLWXDWLRQ GLͿHUHQWO\ LQ IXWXUH 7KH PDMRU OHVVRQ DV IDU DV P\ IULHQG is concerned however, is not to allow an uninformed and ill-tempered person to head an arm of government so vital to the economic interest of the country, not someone who is on record to have claimed that Covid-19 was a creation of a corrupt mind, thus disputing the validity of science. Notwithstanding the little distractions, let me use this opportunity to pay tribute to the pioneer DG of the service, who recently turned 80 years and by providence enabled the recruitment of my friends into the elite service, majorly based on merit arising from the competitive recruitment exercise shortly after the creation of the service. According to my friend, the young and brightest Nigerians were selected from the then 19 states of the Federation DV SLRQHHU R΀FHUV LQ RQ HTXDO EDVLV 7KH QXPEHU RI FDQGLGDWHV UHFUXLWHG DV far as my friend is concerned remains FODVVLÀHG 7KH\ WKHUHIRUH MRLQHG WKH IRXQGDWLRQ R΀FHUV WKDW FURVVHG IURP WKH old Nigerian Security Organisation (NSO) and the former Research Department of WKH 0LQLVWU\ RI )RUHLJQ $ͿDLUV Oloko, a Policy Analyst, lives in Lagos and writes via strategicassociates@gmail.com

Can the SDP bounce back after 30 years? asks MARTIN IORSAMBER

JUNE 12 AND THE SOCIAL DEMOCRATIC PARTY It was on 6 June 2018 that President Muhammadu Buhari, the 15th President of the Federal republic of Nigeria declared June 12 the day of democracy in Nigeria. During the declaration, the president also conferred a posthumous title of Grand Commander of the Federal Republic (GCFR) on Chief Moshood Kashimawo Olawale Abiola. With this declaration, Chief M. K. O. Abiola has been R΀FLDOO\ UHFRJQL]HG DV WKH ZLQQHU RI WKH -XQH 12, 1993 presidential election which has been adjudged as the freest and fairest in the history of the country. Before President Buhari’s declaration, June 12 was observed as a public holiday across the six states of the south west.

fourth republic. Even the governors of the southwest region who kept declaring public holidays on June 12, never remembered the SDP. In 2014, a new party emerged in the name of SDP. It was formed by a coalition of 13 parties and contested posts in the 2015 general elections. A chieftain of the SDP and one of its ÀUVW SUHVLGHQWLDO DVSLUDQWV &KLHI 2OX )DODH was quoted to have said SDP was revived to address the failings of the two prominent parties; PDP and APC and to provide credible alternatives to Nigerians, as the SDP predates both the APC and PDP and has a history of winning elections. However, the winning

With the presidential declaration, the day has been set aside as a public holiday throughout the country. Chief MKO Abiola ran his presidential campaigns on the platform of the Social Democratic Party of Nigeria, commonly known as the SDP. It was created alongside the National Republican Convention NRC by then military president Ibrahim Badamosi Babangida. During the third republic, the SDP was seen as a moderate party attractive to young radical intellectuals and socialists. In LWV PDQLIHVWR LW FDOOHG IRU FRQFHUWHG HͿRUWV WR LPSURYH ZHOIDUH DQG ÀJKW IRU VRFLDO MXVWLFH 7KH party manifesto cut across areas of energy, rural development, mining and petrochemicals, employment and workers’ welfare, education, GHIHQVH DQG 3ROLFH UHIRUPV 7KH SDUW\ ZDV out to end the issues of poor pay for workers DQG XQHPSOR\PHQW LQ WKH FRXQWU\ 7KH 6'3 won 57% of Senate seats and 53% of House of Representatives seats in the 1992 National Assembly election. 7KH IURQWOLQH PHPEHUV RI &KLHI $ELROD·V Social Democratic Party then included Atiku Abubakar, Jerry Gana, Abubakar Rimi, Rabiu Musa Kwankwaso, Umaru Yar’ Adua, Abdullahi Aliyu Sumaila, Dapo Sarumi, Sule /DPLGR 0DJDML $EGXOODKL 7RQ\ $QHQLK Lamidi Adedibu, Albert Legogie, Iyorchia $\X )LGHOLV 7DSJXQ 0RVHV $GDVX %RVV 0XVWDSKD %ROD 7LQXEX 0RKDPPHG $U]LND DQG DPRQJ RWKHUV 7KHVH SHRSOH KDYH MRLQHG other political parties in the fourth republic and left the ideologies of the SDP. For instance, Iyorchia Ayu is the national chairman of the Peoples Democratic Party; one of the Presidential aspirants of the SDP in 1992 Mr Atiku Abubakar is the presidential candidate RI WKH 3'3 0U %ROD 7LQXEX ZKR ZDV HOHFWHG senator on the platform of the SDP in 1992 is now the presidential candidate of the All 3URJUHVVLYHV &RQJUHVV 7KH 6'3 ZDV WKHQ completely forgotten by the founders in the

prowess of the party is yet to be felt. As we mark the 29th anniversary of June 12, a curious observer may ask, what are the possibilities of the Social Democratic Party gaining back her glory in Nigeria’s democracy in a situation where its founding PHPEHUV VXFK DV ,\RUFKLD $\X %ROD 7LQXEX and Atku Abubakar are taking prominent UROHV LQ RWKHU SROLWLFDO SDUWLHV" 7KH DQVZHU lies in the hands of young Nigerians. In 1989 when the SDP was formed, most of its members were young people in their thirties, IRUWLHV DQG HDUO\ ÀIWLHV 7KH SDUW\ DWWUDFWHG young radical intellectuals and socialists who wanted a better country for themselves and WKHLU JHQHUDWLRQ 7RGD\ RQH PD\ ZRQGHU LI the youths or young people in their thirties DQG IRUWLHV DUH UHDG\ WR WDNH RYHU WKH DͿDLUV RI the country for good by grouping themselves into an ideological movement like the SDP. In the end, the baton still lies in the hands of young intellectuals, young business men and young socialists to rise up like Abiola and his comrades did. Abiola played his part and left, the problems he came to solve are still staring in the face of Nigerians. It is left for young people of the day to join ideological parties like the SDP and make it a viable platform. Luckily, the presidential candidate of the SDP Barr. Adewole Adebayo is also a young man who has just clocked the golden age of 50. It is therefore time to rally round the young people of Nigeria into one voice in reinventing the social justice platform under which Abiola won his election so that by 2023 during the 30th anniversary of June 12, Nigerians will be remembering the day with a president on the platform of the Abiola party and not necessary with a president who is one of Abiola’s friends. Comr Iorsamber is Convener, Movement for Advancement and Peaceful Nigeria

4 34

T H I S D AY

MONDAY JUNE 13, 2022

EDITORIAL

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

AS EKITI STATE GOES TO THE POLLS… It is another opportunity for INEC to test its preparedness for the 2023 general election

ome Saturday, the people of Ekiti State will go to the polls to elect a successor to the incumbent Governor Kayode Fayemi. Unlike in the past when bloodletting and large-scale thuggery dominated such exercise, the campaigns have so far been largely peaceful. While we commend this development, we also hope that the police and other law enforcement agencies will be professional in their conduct before, during and after the polls are closed. No matter how well the Independent National Electoral Commission (INEC) prepares, once the security agencies are partisan or compromised, there are usually problems. This election is particularly important because, as YIAGA Africa QRWHV ´LW ZLOO EH WKH ÀUVW election to be conducted under the Electoral Act 2022 and the second statewide election to be conducted using the Bimodal Voter Accreditation System (BVAS).” We also agree that the election will be a litmus test to assess the role of security agencies, “and the commitment of political parties to electoral integrity, stakeholder engagement and citizen participation.” It is also particularly noteworthy that the election is coming shortly after the conclusion of the congresses and primaries of the political parties and the QRPLQDWLRQ RI WKHLU FDQGLGDWHV IRU YDULRXV R΀FHV IRU the 2023 general election. Incidentally, while there are 16 local government areas in Ekiti State, there are DOVR FDQGLGDWHV RQ WKH EDOORW UHSUHVHQWLQJ GLͿHUHQW political parties. But the contest may just be between Abiodun Oyebanji of the ruling All Progressives Congress (APC), Olabisi Kolawole of the main opposition Peoples Democratic Party (PDP) and former *RYHUQRU 6HJXQ 2QL ZKR LV Á\LQJ WKH ÁDJ RI WKH 6RFLDO Democratic Party (SDP). Other contenders and their parties have not been visible in the campaigns. Despite the posturing by principal actors, one fact about the coming election in Ekiti State which also is

true with such election elsewhere in the country, is that it is not going to be fought on ideological platforms. None of the political parties whose candidates are jostling for power can be described as ideology-driven by any stretch of the imagination. For that reason, it is important that the candidates allow the electorate to decide their destiny for the next four years and there should be no room for coercion and violence. Meanwhile, there is great optimism that the new HOHFWRUDO ODZ ZLOO KHOS WR UHVWRUH WKH FRQÀGHQFH RI Nigerians in the ballot box. Section 50 now gives legal backing for electronic transmission of election UHVXOWV 2WKHU VLJQLÀFDQW breakthroughs include the empowerment of INEC to review results declared under duress, determination of overvoting by tribunals based on total number of accredited voters instead of the number of registered voters, legal backing for smart card readers and other voter accreditation technologies. However, as we have always stated, an improved electoral system does not only rest on laws. It is good that INEC and many stakeholders have invested a lot of time and energy in getting the electoral act passed. But the success of the gubernatorial election in Ekiti will depend not only on the enabling law EXW DOVR WKH FRQGXFW RI ,1(& R΀FLDOV 0XFK PRUH importantly, it will signpost what will happen at the Osun State gubernatorial election next month and the 2023 general election. That is why INEC and other stakeholders must get it right. The message is simple: If the commission can conduct the Ekiti State polls without hitches, then Professor Mahmud Yakubu would have proved that the commission has indeed learned useful lessons for the future. INEC particularly needs to use Saturday’s election to test its preparedness for future elections. At the end, the choice of who governs Ekiti for the next four years is that of the residents of the state to make. May the best candidate win.

The success of the gubernatorial election in Ekiti will depend not only on the enabling law but also the conduct of INEC oﬃcials T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

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

LETTERS ZAKARI AND RISING INSECURITY ACROSS THE NATION On Saturday June 4, 2022, Mr. Zakari Umaru-Kigbu, a former Federal Commissioner with the National Population Commission in Nasarawa State was shot dead before his famLO\ PHPEHUV LQ WKH $]XED %DVKD\L /DÀD 1RUWK 'HYHORSPHQW $UHD LQ /DÀD /RFDO *RYHUQPHQW $UHD RI WKH VWDWH E\ VXVSHFWHG assassins. He was also a campaign agent to Mr. Labaran Maku, former Minister of Information and ex-governorship aspirant of the Peoples Democratic Party in Nasarawa State. With the 2023 general elections well around the corner, it appears Nigeria`s premier political assassins are cleaning up their guns and rehearsing their rusty killing routines which have been dormant since the 2019 general elections which ushered in more turmoil for Nigeria at the hands of bad leadership. $FURVV WKH FRXQWU\ ZLWK GLͿHUHQW FRQWHVWDQWV ÀJKWLQJ WRRWK and nail in their bid to ascend to power from where they can cast condescending looks on Nigerians, there is no limits to what some can do to get power. 1LJHULDCV GL΀FXOW KLVWRU\ ZLWK GHPRFUDWLF HOHFWLRQV KDV repeatedly shown that politically motivated assassinations herald election seasons as contestants who are prepared to ÀJKW GLUW\ GR ZKDWHYHU WKH\ IHHO WR JHW SRZHU ,W LV XVXDOO\ QR longer enough to assassinate character. In many instances, the

opponent has to join his ancestors, or someone of strategic importance to such an opponent has to be mowed down. It has EHFRPH D ÀUP IHDWXUH RI HOHFWRUDO FRQWHVWV LQ 1LJHULD For instance, in the run up to the 2007 Governorship elections in Lagos State, frontline candidate Funsho Williams was found bound, strangled and stabbed. His assassins have never been found. It loudly tells the story of Nigeria`s criminal justice system that those who assassinate others here are hardly ever found or convicted for their iniquitous crimes. That they do these things, retreat into the shadows and emerge only to repeat their crimes tell of just how cheap life has become in Nigeria. According to Mr. Maku, while the gunmen who murdered Mr. Zakari tried to break into his house, some of his neighbours went to report at the police station in the area. On noticing that the criminals were armed to the teeth and were in no mood for any jokes, the two personnel sent from the police station with only one gun between them beat a hasty retreat. It was just the next morning that terrorists swooped down on a Catholic church in Owo, Ondo State and mauled down about 40 worshippers. In a country where citizens have practically been left to their own devices with ruthless killers lurking, who will come to the rescue?

Of course, for a long time, suspicion has swelled and swirled that institutionalized corruption has reduced Nigeria`s security agencies to neutered bulldogs. In a country where it increasingly appears there is a terrorist, or a terrorist collaborator in every neighbourhood, the danger is real and present for many. Innocent blood continues to be spilled in Nigeria with very little consequences for those who do so. The perpetrators are hardly ever brought to book. The gravity of the situation is graphically expressed by the fact that many Nigerians are now so used to death that all it ever draws from them these days is a shake of the head or a shrug. The trauma of having a loved one gruesomely murdered before one`s eyes in such cold blood is better imagined. Mr. Zakari`s family members have joined many Nigerians who have had to witness this and unless something decisive is done very soon, many more will join the ever-growing list. That Nigerians are killed every day shows that those charged with protecting lives and property are either derelict of their duties or worse, complicit in the chilling crimes being committed against Nigerians. Kene Obiezu, keneobiezu@gmail.com

T H I S D AY ˾ MONDAY, JUNE 13, 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

J U N E

S & P INDEX

1 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%

Experts Raise Alarm as Political Spending, Others Push Currency in Circulation to N3.31trn

Kayode Tokede Economists have expressed concerns over the exponential increase in currency in circulation, which reached N3.31 trillion in April 2022, attributing it to political spending towards political parties’ primary elections. Currency in circulation has been on the increase in 2022, adding 0.62 per cent or N20.5billion from N3.29 trillion in January 2022 to N3.31trillion as of April 2022. Currency in circulation reached the historical N3trillion mark in November 2021 as banks customers withdraw physical cash amid festive period. According to the CBN’s ‘Money and Credit Statistics’ currency in

circulation in Year-on-Year (YoY) performance increased by 18.13 per cent from N2.79 trillion it was April 2021. The CBN had reported N3.25 trillion and N3.245 trillion in circulation between February and March 2022, respectively. Also, currency outside the banking sector moved to N2.78trillion in April 2022, an increase of about 0.03per cent or N771million from N2.779 trillion CBN reported in January 2022. Nigeria’s currency circulating in the economy has recorded significant growth since the CBN maintained its dovish monetary approach as a means to ensure the recovery of the nation’s economy, following the recession recorded in 2020, caused by the covid-19 pandemic.

Several intervention policies pushed currency in circulation to its highest level in history in December 2021. Economist and President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka believe spending towards the primary elections of political parties was the major driver of the increase. According to him, “Politicians are spending more money and it will definitely affect not just currency in circulation alone but the foreign exchange market. “It will get worst when politicians start the main campaign towards 2023. As you likely know, the online system has not been effective and even it does, cash will still be the main drivers for politicians and it

has its implications on our national economy.” Speaking, Prof. Hassan Oaikhenan of the Department of Economics, University of Benin, said the hike in currency in circulation cannot be split from political season, stressing the dwindling Naira also cannot be divorce from the political tension in the country. “It is an undesirable state and added to that the looting in the system to win a political position in the country, ”he said. In addition, the Chief Operating Officer, InvestData Limited, Mr. Ambrose Omordion noted that political spending this year has impacted on currency in circulation and dwindling foreign exchange. According to him, the political

activities were peaceful but currency in circulation was on increase as candidates spent to outshine each other. “The increasing spending by politicians is not helping our economy,” he added. Analyst at PAC Holdings, Mr. Wole Adeyey hinted that a doubledigit inflation rate is responsible for hike in currency in circulation, stressing that political spending also played its role. He also expressed that most banks in Nigeria showed a significant rise in ATM withdrawals and this could be linked to increase in currency in circulation According to him: “Many things may have contributed N3.31trillion in currency in circulation. The

inflation rate at 16.83per cent is still on high and it has reflected in the prices of goods and services that have increased significantly in the market, hence people need to spend more money. Also, the persistent depreciation of Naira in the foreign exchange market shows that people need more Naira to exchange for one US dollar. “Also, data from most banks in Nigeria showed a significant rise in ATM withdrawals and this could be linked to increase in currency in circulation. In addition, the increase in domestic credit may have contributed to higher currency in circulation.” On his part, the Vice President, Highcap securities limited, Mr. David Continued on page 37

Fidelity, Unity Bank, 7 Others Report N226.12bn Insider Loans to Directors, Related Entities Nume Ekeghe Fidelity Bank Plc and eight other deposit money banks in Nigeria granted a sum of N226.12billion loans and advances to entities controlled by key management personnel and related parties in 2021, analysis of the banks’ 2021 financial accounts has revealed. This is an increase of 11.5 per

cent from N202.73billion loans and advances granted by the nine banks to key management personnel and related parties in 2020. The other banks are Unity Bank Plc, Wema Bank Plc, Access Holdings Plc, United Bank for Africa (UBA) Plc, Zenith Bank Plc, Guaranty Trust Hold Plc (GTCO), FCMB Group Plc and Sterling Bank Plc. Analysts believe Nigerian banks

might be giving out loans to key management personnel at belowmarket interest rates. Banks are required to report inside loans and advances in compliance with the provisions of Central Bank of Nigeria (CBN) Circular BSD/1/2004 dated February 18, 2004 on ‘Disclosure of insider related credits in the financial statements of banks.’

In the year under review, Fidelity Bank, according to THISDAY analysis, led other banks in loans and advances granted to entities controlled by key management personnel and related party. For instance, Fidelity Bank in its 2021 financial statement disclosed N194.33billion loans and advances from related parties, representing an increase of 20.7 percent from

N194.33billion reported in 2020. The breakdown revealed that loans granted to entity controlled by key management personnel rose by 20.7 per cent to N96.6billion in 2021 from N80.02billion reported in 2020, while loans granted to related parties rose by 20.6 per cent to N97.73billion in 2021 from N81.01billion reported in 2020 financial year. Most of the loans obtained by key

management personnel and related parties at Fidelity Bank comprise term loans and overdrafts. According to the 2021 audited financial statement, the Managing Director, Fidelity bank, Mrs. Onyeali-Ikpe Nnekachinwe; two executive directors, Hassan Imam Galadanchi and Kenneth Onyewuchi Continued on page 37

M A R K E T D ATA A S AT F R I D AY, J U N E 1 0 , 2 0 2 2 BILLS

BONDS DESCRIPTION

Price

Yield

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

110.10

7.93

108.01

10.14

106.48

10.30

120.26

10.74

113.18

10.81

Change Updated Time (%) June 9, -0.01 2022 June 9, 0.04 2022 June 9, 0.00 2022 June 9, 0.07 2022 June 9, 0.00 2022

MATURITY

Discount

Yield

OTC F X F U T U R E S

CPS

Change Updated Time (%)

NTB 14-Jul22 NTB 11Aug-22 NTB 8-Sep22 NTB 13-Oct22

2.59

2.60

0.00 June 9, 2022

3.35

3.37

-0.15 June 9, 2022

3.45

3.48

0.00 June 9, 2022

3.76

3.81

0.17 June 9, 2022

NTB 10Nov-22

3.76

3.82

0.00 June 9, 2022

MATURITY TRBH CP V 26-JUL-22 FSDH CP VI 1-AUG-22 NENL CP I 24-OCT-22 FSDH CP VII 27-OCT-22 SIBP CP III 27-OCT-22

Discount Yield 11.19 11.35 7.76

Change Updated Time (%) 0.00 June 9, 2022

7.85

0.00 June 9, 2022

14.49 15.33

0.00 June 9, 2022

8.77

9.07

0.00 June 9, 2022

7.96

8.21

0.00 June 9, 2022

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

Updated Time

June 9, 2022 June 9, 2022 June 9, 2022 June 9, 2022 June 9, 2022

MONDAY, JUNE 13, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Fixed Income Traded on NGX Rises by N687bn in May Kayode Tokede As the stock market continued to gain momentum in 2022, investors traded N687.1billion worth of fixed income on the Nigerian Exchange Limited (NGX) in May when its market capitalisation increased to N22.44trillion from N21.75trillion reported in April. Despite a 12.12 per cent increase in total deals to 74 in May from 66 deals in April, total value traded depreciated by 33.67 per cent to N393.3million in May from N260.86million in April 2022. Also, total volume traded at the fixed income of the NGX depreciated by 34.84per cent to close May at 246,038.00 from 377,566.00 reported in April. According to the Exchange monthly statistics, the Exchange Traded Products (ETPs), market capitalisation added N247.9million

or per cent to close May at N7.39billion from N7.14billion in April. As ETPs value traded rose by 553.25 per cent to N15.99bmillion in May from N2.45million in April, its volume traded also appreciated significantly by 356.20 per cent to 115,624.00 from 527,481.00 In the stock market segment, the market capitalisation rose by N1.81trillion or 6.75 per cent to close at N28.57trillion in May from N26.77trillion it closed in April 2022. The statistics disclosed that volume and value traded rose by 197.64 per cent and 195.07 per cent to 36.16billion and N303.94billion in May 2022, respectively. The President of the Association of the Capital Market Academics in Nigeria (ACMAN), Professor Uche Uwaleke, had said investors reacted following a strong international crude oil price

which reduces the risk of external shocks, stressing that the insignificant impact of the Russian-Ukraine war on the Nigerian economy played a critical role in stock market growth in five months of 2022. He added other factors that include, “Relatively low interest rates in the fixed income market. However, this may reverse soon following the recent hike in the Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). “Effective regulation on the part of the SEC has helped to boost confidence.” He added that, “Perhaps, the strongest driver has been improved corporate performance of many quoted companies. So, a lot of investors have engaged in bargain hunting in search of undervalued stocks thereby pushing up stock prices.”

NATIONAL PENSION COMMISSION

Micro Pension Plan as Buffer Against Old Age Poverty

NDIC to End Forbearances on Premium Payment to Banks Nume Ekeghe With the effects of the Covid-19 pandemic reducing, the Nigeria Deposit Insurance Corporation (NDIC) has announced that it will end forbearances on premiums given to some banks by next year. Speaking at the stakeholders’ retreat with members of Senate Committee on Banking, Insurance and Other Financial Institutions, the Executive Director Operation, NDIC, Mustapha Ibrahim said the banking industry in the country has become resilient. Ibrahim who represented the Managing Director and Chief Executive of the NDIC, Bello Hassan said: “We have tried to immunise the system to withstand whatever shocks that may be impacting on the Nigerian economy and the financial system. During the

COVID era, we jointly actually took some measures in terms of extending forbearances, especially in the banking sector, and facilities extended by banks or insurance institutions generally to their customers. “The NDIC also took the initiative to grant some kind of forbearance temporarily to some banks in terms of their premium payable during the period. Now that we are in the post-COVID era, definitely some of these forbearances, we will in collaboration with the central bank, begin to wind them down, possibly commencing next year. For now, some of these measures are still there, because just after the pandemic, we are now grappling with the Russia and Ukraine war, and of course in this impacting globally, including Sub-Saharan Africa and Nigeria in particular is not an exception.”

Stating that regulators in the financial industry have a very robust supervisory framework, he said: “The risk based approach is actually proactive. For the most part, we try to anticipate all these risks, macro and micro as well as global, and domestically, to address continuously.” Speaking, the Senate Committee Chairman, Senator Uba Sani said the committee in its efforts towards regularly engaging critical Stakeholders in the financial and banking sectors jointly organises retreats of this nature for discussion and painstaking analysis on a wide range of issues whose outcome will be of great benefit to the sectors and the Nigerian economy at large. He noted that progress has been made in forging a solid, sustainable and workable relationship in the overall interest of the nation.

‘COVID 19 Changed Face of Annuity Business in Nigeria’ Ebere Nwoji The Managing Director and Chief Executive Officer, AIICO

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)

Insurance Plc, Mr. Babatunde Fajemirokun has said that the outbreak of COID19 pandemic has changed the face of annuity business in Nigeria adding that events during the COVID 19 pandemic opened people’s eyes, inspired them to save through annuity plan. Fajemirokun stated this at the 3rd Edition of AIICO Annual Media Training organised for members of the National Association of Insurance and Pension Correspondents (NAIPCO), in Lagos. He said since after the COVID, number of those who willingly buy annuity almost doubled because of their experience during the COVID lock down. He said those who were at the fore from of positive attitude towards the annuity plan purchases were proprietors of private schools, owners of hotels, fast foods, restaurants and cinema houses. These people according to him suffered luck down more than others during the COVID period.

Fajemirokun, who was represented by the Head, Strategic Marketing and Communications, Mr. Segun Olalandu, said AIICO Insurance was doing everything possible to deepen annuity business in order to take advantage of its inherent opportunities. He said AIICO Insurance was commitment to providing a robust annuity service that meets customers’ expectations as well as drives the growth of insurance in the country. The AIICO Insurance boss, who described annuity business as a game changer for everybody, noted that the insurer is committed to a robust and effective annuity service. Speaking on the training tagged, “Understanding Annuity Business,” Senior Manager, Business Development, AIICO Insurance, Mr. Victor Owotorose, stressed the importance and benefits of annuity to the clients and the growth of insurance industry. Annuities, he stressed, were insurance contracts that promise to pay you regular income immediately or in the future.

PENCOM DG, Aisha Dahir-Umar The World Bank report of 2021 entitled, “Long Shadow of informality, Challenges and Policies,” estimated that over 80.4 percent of Nigeria’s labour force is in the informal sector. Persons involved in the sector do not have access to any formal pension protection or coverage for old age. The result is old age poverty, especially with people living longer due to improved medical care. To address the situation, the National Pension Commission (PenCom) introduced the Micro Pension Plan (MPP), a long-term voluntary financial plan that would enable informal sector workers participate in the Contributory Pension Scheme (CPS). This initiative of PenCom is in line with the provisions of Section 2(3) of the Pension Reform Act (PRA 2014), which allows selfemployed persons and employees working in organizations with less than 3 workers to participate in the CPS in accordance with the Guidelines issued by PenCom. Before the launch of the MPP, these categories of workers, along with those of organisations that employ less than three workers were not mandatorily covered by any retirement benefit scheme. PenCom initiated the MPP to provide financial stability to these workers in their old age. An informal sector participant interested in joining the MPP is required to enroll by completing the registration forms, accompanied with a valid means of identification (International passport, Driver’s License or National ID card) with any PFA of his/her choice. Such individual should be at least 18 years of age and resident in Nigeria. Once the RSA is opened, the Micro Pension Contributor (MPC) is issued with a Personal Identification Number (PIN) by the PFA. It is important to note that upon securing employment in the formal sector with any organisation that has three or more employees, the MPC will be eligible to participate under the mandatory CPS. However, once the MPC joins the mandatory CPS, he/she cannot convert back to the MPP. The non-homogenous nature of the informal sector participants with respect to regularity of income was considered in the design of the MPP. Under the MPP, contributions have been made easy - there is no stipulated minimum amount of contribution and the MPC can make contributions on a daily, weekly or monthly basis, as may be convenient. These contributions can be made by cash deposit, or electronically, through any payment platform/agent approved by the Central Bank of Nigeria. Micro Pension Contributions are invested by the PFAs in safe investment outlets that are stipulated by the PenCom. The savings are expected to increase over time due to yields from the investments, thereby affording contributors

to build up savings from which to draw retirement benefits and pension MPP contributions are split into 40 per cent for contingent withdrawal and 60 percent for pensions. The Contingent portion is available for withdrawal to ease financial pressures or needs of the contributor before his/her retirement. The MPC is qualified to access the contingent portion of the contribution three months after making the initial contribution. Subsequently, contingent withdrawals can be made once in a week. The retirement/fixed portion of the RSA balance on the other hand, can only be accessed by the contributor upon retirement. PenCom’s Guidelines on MPP provides that the Micro Pension Contributor (MPC) is eligible to access his RSA for retirement upon attaining the age of 50 years and or on health grounds The MPC can choose to convert the contingent portion of the RSA to the retirement benefits portion at the end of every year, and may also transfer his/her RSA from one PFA to another in line with the RSA transfer regulations. Also, upon retirement, the MPC has the option of transferring part or all of his/her outstanding balance in the contingent portion to his/her retirement benefits portion. In the event of the death of an active or retiree MPC, the balance in the RSA shall be paid to the legal heirs of the deceased/ contributor as may be appointed by a Will or Letter of Administration granted by a Probate Registry or as may be directed by a court of competent jurisdiction in the State of residence of the deceased contributor, as the case may be. This means that the MPP also offers financial security to relatives of deceased informal sector workers. The expectation is that the features of the scheme such as flexibility of contributions and access to a portion of the funds in the participants’ Retirement Savings Accounts (RSA) before retirement would obviate the restrictions of the mandatory CPS. The MPP has provided hope for millions of Nigerians operating in the informal sector. While they do not retire in the conventional sense, they however need to ensure their old age is lived-out in dignity. It is important that informal sector workers register for the MPP to secure their financial security at old age. It is never too early or too late to begin saving for retirement. The sooner, though, the better. As PenCom intensifies the implementation of the MPP, there is huge optimism about consistent growth in the number of participants and attendant accumulation in the MPP assets. t 'PS NPSF JOGPSNBUJPO PO UIF .JDSP 1FOTJPO 1MBO QMFBTF WJTJU UIF /BUJPOBM 1FOTJPO $PNNJTTJPO T XFCTJUF XXX QFODPN HPW OH

T H I S D AY ˾ MONDAY, JUNE 13, 2022

BUSINESSWORLD

STATUS REPORT

Red Star Invests in Future, Grows Asset Base

ed Star Express, the only indigenous logistics company to be listed on the Nigerian Exchange Limited (NGX) has grown its total assets to almost N8 billion, as the company continues to invest in the future, and set new benchmarks in innovation and technology growth. In what can be aptly described an apparent resilient performance, the group reported strong revenue and earnings for the last quarter of its business year. Group turnover jumped to over N12.6 billion, and Profit before tax stood at N393 million for the year ended March 31, 2022 from N220.8 million reported in 2021 financial year. RSE recorded a turnover revenue of N12.6 billion (an impressive lift of 34per cent over the corresponding period of last year) while Net cash provided by operating activities of N740 million against N726 million in the prior year (an improvement of 16 per cent compared to the prior year) Details of the revenue split include the following; Red Star Courier that grew by 38.8 per cent to N7.38 billion in 2022 from N5.31billion in 2021, while Red Star Freight that grew by 33.5 per cent to N1.7billion in 2022 from N1.28billion reported in 2021. Other contributing factors to revenue are Red Star Support Services that appreciated by 13per cent to N1.66 billion in 2022 from N1.46 billion in 2021, while Red Star Logistics rose by 37per cent to N1.92billion in 2022 from N1.4 billion in 2021. It is pertinent to note that global economies have faced very trying times since 2020, following the unfavorable outbreak of the COVID-19 pandemic that practically grounded many businesses in Nigeria and all over the world. Only the most resilient have managed to stay profitable. Red Star demonstrated a very robust and healthy balance sheet, ending the period, with cash and cash equivalents of N761 million, increased profit before tax margin of three per cent, as against 2.2 per cent in the prior-year period and earnings at 28 kobo per share, a 75per cent increase over the prior year at 16 kobo. In the period under review, the company invested in operating assets of over N700 million to expand

its operations. The results come as the industry continues to grapple with supply chain headwinds and inflationary pressures. Investment Reflects in Total Assets Red Star’s commitment to investing in the future was reflected in its non current asset base, which climbed to N3.2 billion, while current assets rose to over N4.5 billion. Total assets thus jumped to a record level of over N7.8 billion in 2022 from N billion reported in 2021. The prudence of the company’s leadership is also reflected in the revenue reserve now standing at almost N2.6 billion. Shareholders’ funds also rose in the reporting period. At a time when many companies were spending more on recurring expenditure, Red Star continued to pursue a strategy of investing in technology and assets. Counting as strength on the company’s side is its strong sense of innovativeness and strategic partnerships. Red Star has efficiently developed strategies that impact not only on its business but essentially on the economy and its prospective customers. A good example is the ongoing support it provides to small and medium enterprises (SMEs), which it began since 2018 and enhanced over the last three years. By specially focusing on what it refers to as the ‘lower SMEs’, Red Star has captured the segment of investors that constitute a significant economic power house. The outcome is a commendable robust relationship between the company and thousands of SMEs, working with its e-commerce department.

SUPPORTS IN THE NON-CORE SECTOR

Red Star has also continued to support the agricultural sector, targeting farmers and agro entrepreneurs and having its in-house experts offer them free assistance in ensuring that rudimentary processes such as business documentation/

certification are in place in other to help them grow their businesses, even to the export levels. These efforts are expected to yield positive company yields in the near future. The company’s further investments in cold chain trucks (its brand new trucks, plying the roads as ‘Red Star Cargo – cold chain services), though futuristic is already yielding a positive outcome. The company’ trucks/cold store storage which on the onset began by essentially transporting perishable farm produce such as tomatoes, recently with the advent of COVID, cashed in to a more strategic function of providing indispensable cold storage facilities to pharmaceuticals and makers of other goods that require strict temperature control. Red Star has therefore, sufficiently deployed investment in assets to give its business the required momentum. Utmost importance is paid to deploying huge asset investments to the e-commerce sector which it considers, and aptly so, to be about the most important driver of growth in the new era. There is probably no gainsaying that the RSE has successfully positioned as the industry backbone. The company’s new Managing Director, Mr. Auwalu Babura however emphasized that Red Star’s key success factor and differentiator is the resilience of its people and the company’s none negotiable commitment to putting people first above all else. He noted that, “Red Star is driven by its sound philosophy of PSP- People, Service, Profits. We have long realized that when you take care of the people, they will take care of you. In the logistics business, the consequence of error is very high. We believe that if the team is well-fired up, we can continue to deliver extraordinary and bestin-class services.

RESILIENT TURNOVER, REVENUE

Describing the company’s latest result as, ‘a

resilient turnover revenue and earnings growth,’ the Chief Executive Officer of Red Star Express enthused that: “Given our momentum, we are optimistic about our business, particularly in light of our operational improvements and the business process reengineering. While we acknowledge the challenges of the persistent inflationary cost pressures, with rising energy prices, we believe we are well-positioned to deliver on growth investments with good returns to shareholders.” According to Babura, Red Star’s enduring success story is indeed attributable to its futuristic approach, strategic planning, agile management style and bold investments in the future. It has continued to withstand the storm with no capital erosion and with very low staff turnover. “With a human resource vision and culture that views its staff as its greatest asset, heavy investments are usually made on human capital development.” The Head of Finance, Mr. Valentine Onyibo echoed that, “despite the rising cost due to inflation and other negative business indices, Red Star has maintained improved margins and further enhanced its financial position. The portfolio continued to perform well and we recorded several positive earnings across the company and its subsidiaries.” Red Star Express Plc is a Licensee of Federal Express (FedEx) Corporation, the world’s largest delivery solutions provider. It has over 150 offices in Nigeria; with international offices in Niger Republic, Burkina Faso and Benin Republic. Its network spans over 1,500 communities in Nigeria and 214 countries worldwide. Red Star Express is made up of 4 divisions and business units specializing in areas such as Express Delivery, Logistics, Freight, Outsourcing services, Supply Chain Management, E-Commerce Facilitation, Printing and Packaging, E-Archiving, as well as Agro Trade Logistics. In view of the foregoing, Babura‘s prediction of better years ahead is definitely not farfetched. “I envision a stronger Red Star - bigger in terms of size, revenues and investment in technology, ”he said.

EXPERTS RAISE ALARM AS POLITICAL SPENDING, OTHERS PUSH CURRENCY IN CIRCULATION TO N3.31TRN Adnori attributed hike in currency in circulation to money created by the CBN to finance federal government budget and intervention by the apex bank in some key sectors. In his words: “In my own view, the money created by CBN through lending to banks to assist them finance some key projects in the economy might increase physical currency.”

Meanwhile, the CBN had warned banks against accepting mutilated naira notes, explaining that they were not the real currencies in circulation. In a circular to the Deposit Money Banks (DMBs), titled, “Treatment of composed banknotes,” it said, “The management of the Central Bank of Nigeria observed with concern the increase number of composed

banknotes deposited by DMBs and request for replacement of such banknotes by members of the public. “The existence of composed banknotes in the economy falsifies the true value of currency in circulation and can also be avenue for fraudulent activities. A composed banknote is a banknote that comprises of several parts of different banknotes of the same denomination put together with

the intention of receiving value.” Consequently, it added that any composed banknote discovered in the deposit of DMBs would attract a penalty of 400 per cent of the value. Currency in circulation is defined as currency outside the vaults of the central bank; that is, all legal tender currency in the hands of the general public and in the vaults of the Deposit Money Banks, according

to the apex bank. The CBN stated that it employed the “accounting/statistical/withdrawals and deposits approach” to compute the currency in circulation in Nigeria. This approach involves tracking the movements in currency in circulation on a transaction-by-transaction basis. It said for every withdrawal

made by a bank at one of CBN’s branches, an increase in the CIC was recorded, adding that for every deposit made by a bank at one of CBN’s branches, a decrease in the CIC was recorded. The transactions are all recorded in the CBN’s CIC account, and the balance on the account at any point in time represents the country’s currency in circulation.

FIDELITY, UNITY BANK, 7 OTHERS REPORT N226.12BN INSIDER LOANS TO DIRECTORS, RELATED ENTITIES Opara; two Non-Executive Directors, Kings Chukwu Akuma and Chidozie Bethram Agbapu were related party that made up of key management personnel that access loans and advances. Others are; Reginald U. Ihejiahi, Ikemefuna A. Mbagwu, Ichie Nnaeto Orazulike, Chief Charles Chidebe Umolu, Okonkwo Nnamdi John, Odinkemelu Aku, Adegbolahan Simisola Joshua, Obaro Alfred Odeghe, and Yahaya Umar Imam are all former directors at Fidelity listed as key management personnel. As regarding entity controlled by key management personnel that were granted loans & advances, Mr. Ernest Ebi who the bank’s chairman outstanding loans and advances in seven entities that comprises of Agric Int’l Tech and Trade, Dangote Industries Limited, Dangote Fertil-

izer Limited, Dangote Oil Refining Company Limited, Dangote Cement Plc -Obajana Plant, Dangote Agro Inputs Limited and Dangote Sugar Refinery Plc, borrowing rose by 15.46 per cent to N81.17billion in 2021 from N70.3billion in 2020. Fidelity Bank, thus, reported 31 percent drop interest income in entity controlled by key management personnel to N10.2 billion in 2021 from N14.74billion reported in 2020, while interest income from loans & advances to related parties also went down by 30.6 per cent to N10.26 billion in 2021 from N14.78 billion in 2020. Similarly, Sterling Bank grew its secured loans and advances transactions with key management personnel to N600million, an increase of 60.4 per cent from N374million in 2021 while Zenith Bank reported

N1.69 billion loans & advances on insider-related transactions, an increase of 3.5 percent from N1.63billion in 2020. As these three banks grew lending to insider parties in 2021 financial year, the likes of Unity Bank, Wema Bank, Access bank, FCMB group, UBA, GTCO, Stanbic IBTC Holdings cut their exposure, following the adoption of Banks and Other Financial Institutions Act (BOFIA) 2020, among other banking related matters. The BOFIA Act 2020 bars a bank from lending more than five per cent of its paid-up share capital to any one of its directors or significant shareholders. Furthermore, a bank’s aggregate exposure in lending to its directors and significant shareholders must not exceed 10per cent of its paid-up

share capital. The Act also provides that credit extended by a bank to any of its directors or significant shareholders must be on the same terms and conditions as those prevailing at the time for comparable transactions by the bank with persons who are not directors or shareholders of the bank. According to the 2021 financial statement of Unity Bank, it reported a 29 percent drop in loans & advances to N5.35billion in 2021 from N7.55billion in 2020. Access Bank’s inside party transactions dropped significantly by 88 per cent to a sum of N268.2million in 2021 from N2.23 trillion reported in 2020, while Wema Bank reported N589million insider related loans & advances in 2021 from N2.02billion reported in 2020. Stanbic IBTC Holdings and FCMB

Group also reported a 50.4 percent and 56 percent decline in directors and staff-related loans & advances to N39.86billion and N1.15billion in 2021, respectively. In addition, UBA reported a sum of N15.28l billion loans and advances to key management personnel/ Related parties and insider-related credits in 2021 from N17.4 billion in 2020, while GTCO reported 13 percent drop in its insider-related loans to N6.86 billion in 2021 from N7.86 billion in 2020. GTCO in its audited financial statement stated: “During the year the Group granted various credit facilities to companies whose directors are also directors of Company (Director Related) ‘or related to a Key Management Personnel (Insider Related) at rates and terms comparable to other facilities in the Bank’s portfolio.

“An aggregate of N6,853,722,000 (31 December 2020: N7,864,207,000) was outstanding on these facilities at the end of the year. The bank earned a sum of N10,258,000 (December 2020: N10,157,000) on insider-related facilities during the Year.” During the public hearing on the bill to amend the BOFIA, the Nigerian Deposit Insurance Corporation (NDIC) had submitted a memorandum to the Senate Committee on Banking, Insurance and other Financial Institutions, seeking the express prohibition of insider loans in the banking industry. In the memorandum, NDIC proposed criminalisation of insider lending by directors of a bank, making it an offense punishable with both imprisonment and fines. The proposal was obviously rejected, as BOFIA 2020 permits insider lending.

MONDAY, JUNE 13, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R: Medical Director, Bridge Clinic, Dr. Toyin Ajayi; General Manager, Rose Ogbeche; Head of Clinic, Lagos, Dr. Tunde OgunniranL Bridge Clinic, Ambassador,Mrs Emekwe Ifeoma; Bridge Clinic, Ambassador, Mrs Ifeyinwa Kpajie; Head, Counsellor, Bridge Clinic,Mrs Etang Abang and Fertility Doctor, Bridge Clinic, Dr. Olayinka Ayo during the Bridge Clinic, world Fertility day and 3,000 live Births Celebration, held in Lagos… recently

Zenith Bank Surpasses 10 Other Companies in N92.71bn Unclaimed Dividend Kayode Tokede Following inadequate sensitisation, a total of 11 listed companies on the Nigerian Exchange Limited (NGX) reported accumulated N92.71billion outstanding unclaimed dividend in 2021. The 11 companies reported N78.2 billion outstanding unclaimed dividend in 2020, representing an increase of 19 per cent when compared to 2021 unclaimed dividend. Unclaimed dividend is the dividend, which is being paid by the company but the shareholder has not claimed the dividend. Unclaimed dividend is to be paid by the company as and when demanded and hence is a liability for the company. Unclaimed dividends, according to the Director-General, Securities & Exchange Commission (SEC), Mr. Lamido Yuguda are caused by multiple subscriptions, in which some investors used various methods to subscribe for, more than the allowed amount of shares during public

offerings. THISDAY analysis of the 11 companies’ audited result and accounts for the period ended December 31, 2021, revealed that Zenith Bank Plc, followed by Access Bank Plc have the highest amount of unclaimed dividend in the banking industry. Dangote Cement Plc, followed by Nestle Nigeria Plc have the largest amount of unclaimed dividend in the manufacturing sector, given the years both companies have been rewarding shareholders with dividend payout and bonuses on their investment. Other notable companies with unclaimed dividend are United Bank for Africa Plc (UBA), FBN Holdings Plc, Nigerian Breweries Plc, Stanbic IBTC Holdings Plc MTN Nigeria Communication Plc, Lafarge Africa Plc, and Seplat Petroleum Plc. According to 2021 audited results, Zenith Bank’s unclaimed dividend hits N28.65 billion, representing an increase of 2.2 per cent from N28.04 billion reported in 2020. Access Holdings reported N17.28 billion unclaimed dividend in 2021, an

increase of 9.8 per cent from N15.73 billion in 2020. Access bank in its audited 2021 FY stated that, “Unclaimed dividend is the balance of dividend declared by the Bank but yet to be claimed by shareholders. “The amount relates to the portion that has been transferred to the Bank by the Registrar in accordance with SEC guidelines on Return of Unclaimed Dividends for the corresponding assets with Asset Managers. The amount is payable on demand to shareholder.” However, FBN Holdings reported 24.2 per cent increase in unclaimed dividend to N11.95billion in 2021 from N9.62billion in 2020, while UBA’s unclaimed dividend rose significantly by 49.8 per cent to N11.5billion in 2021 from N7.68billion in 2020. As Dangote Cement reported N4.6billion unclaimed dividend in 2021, an increase of 15 per cent from N4billion in 2020, Nestle Nigeria reported N6.6billion unclaimed dividend in 2021 from N5.57billion in 2020.

Nigerian Breweries closed 2021 with N4.6billion unclaimed dividend from N900 million reported in 2020, as Stanbic IBTC Holdings grew its unclaimed dividend by 11.09 per cent to N3.54 billion in 2021 from N3.18billion in 2020. MTN Nigeria Communication’s unclaimed dividends outstanding as at December 31, 2021 stood at N1.65billion from N1.36billion in 2020. In addition, Lafarge Africa reported N1.43billion outstanding unclaimed dividend in 2021 from N1.27billion in 2020, while Seplat Energy reported N920 million ($1,567,445.75 and N291,913,855.20.) unclaimed dividend in 2021 from N856million (US$593,230.86 and N642,070,562.85) in 2020. According to capital market stakeholders, as these companies declared dividend payout in audited results for period ended December 31, 2021, unclaimed dividend in the Nigerian capital market is expected to soar when audited results for period ended December 31, 2022 are released to the investing public.

They maintained that these unclaimed dividends reported by these companies are accumulated amounts mostly constituted before Securities and Exchange Commission (SEC) introduced Electronic-Mandate initiatives, targeted at tackling unclaimed dividend menace in the Nigerian capital market. They added that multiple subscriptions securities, incorrect data and sensitisation by market regulators are majorly the challenges contributing to unclaimed dividend in the Nigerian capital market. Speaking from a shareholder’s perspective, the National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Dr. Anthony Omojola said many shareholders have not keen into the E-mandate introduced by SEC, blaming it on Annual General Meeting (AGM) held proxies. The Managing Director/CEO of First Registrars & Investor Services Ltd, Mr. Bayo Olugbemi in a chat with THISDAY said, “There is need to find out the percentage of the outstanding to how much was

declared by these companies. “If companies keep declaring dividend, certainly there will be an increase in unclaimed dividend. They might be out of the country, in jail for years and some other reasons. Once a shareholder does not give his bank mandate to his/her registrar, the dividend remains unclaimed.” The CEO, Wyoming Capital & Partners, Mr. Tajudeen Olayinka said, “The truth is that some investors are yet to actualize the E-dividend mandate by SEC, and they appear to be in large numbers. Some of them are outside Nigeria, and have been away from the country for quite a long time. Some are late, while some others may have reasons for temporarily staying away.” Analyst at PAC Holdings, Mr. Wole Adeyeye said the E-mandate was a game changer in the capital market, calling on shareholders to valid their information on the portal. He also urged market stakeholders to further sensitize shareholders to update their information with their stockbroker or at any nearby registrar.

Abbey Mortgage Bank Grows Obiora: Nigeria’s Digital Payment Valued at $2.4 trillion Profit Before Tax by 116% Nume Ekeghe

Abbey Mortgage Bank Plc, Nigeria’s leading non-aligned Primary Mortgage Bank in Nigeria (PMBN) has released its financial results for the year ended December 31, 2021 showing profit before tax (PBT) growth of 116 percent. The company recorded PBT of N661.063 million from a loss

before tax (LBT) of N4.297billion in FY’2020. The annual report also shows that as at December 31, 2021 the bank’s total assets stood at N34.460billion as against N18.520billon in 2020, which represents an increase by 86.07percent. Profit after tax of

N622.198million in 2021 as against a loss position of N4.301billion in 2020 represents an increase by 114.46 per cent. Cash flow from operating activities increased by 54.15 per cent to N7.291 billion in FY 2021 from N4.730 billion in 2020. Commenting on the impressive scorecard, Managing

Director, Abbey Mortgage Bank Plc, Bolaji Adewumi, said, “the report is evidence of the hard work that every staff of the company has put in over the past year.” According to him, “there’s still a lot of work to be done but we remain steadfast to our commitment to a new and reenergised Abbey”

Heifer Assists in Compensation of Smallholder Farmers with Over N100m In its resolve to help smallholder farmers mitigate loss of harvests due to poor weather conditions, pest and diseases, Heifer International has announced payment of over N100 million as insurance compensation payout from Leadway Assurance to 3, 110 smallholder rice farmers operating in Benue and Nasarawa states of Nigeria under its pay-at-harvest Area Yield Index Insurance (AYII) project being a component of Heifer’s Naija Unlock Signature Program for

Nigeria. AYII was launched in Nigeria in 2021 by Heifer International in partnership with OLAM, Leadway Assurance and PULA as a solution to mitigate climate change-induced losses among smallholder farmers and restore investors’ confidence in rice farming. Speaking during the farmers insurance claim payout ceremony held in Makurdi, Benue State, Heifer’s Country Director, Rufus Idris confirmed that a total of 4,358 hectares of

farmland belonging to 4,354 smallholder rice farmers in Benue and Nasarawa states were insured during the 2021 wet farming season under the project, among which 3,110 smallholder rice farmers suffered losses due to soil moisture stress. According to Head Agric and Micro Insurance for Leadway Assurance Limited, an implementing partner for the insurance scheme, Mr. Ayoola Fatona, “today marks a major milestone in the Nigerian Agriculture Insurance space. Leadway wishes to

reiterate our commitment to assisting smallholder farmers in guaranteeing the food security of the nation by leveraging on this type of partnership with Heifer International.” Reji George, Olam’s Vice President for Farming Initiatives added, “Olam is excited about this collaboration with Heifer International and we will remain committed to supporting the growth of smallholder farmers that we do business with as we contribute our quota to transforming Nigeria’s agricultural sector”

The Deputy Governor, Economic Policy Directorate, Central Bank of Nigeria (CBN), Dr. Kingsley Obiora has noted that Nigeria’s sophistication in digital payments has seen it grow from around $324 billion in 2008 to $2.4 trillion presently. He said this over the weekend at the virtual International Monetary Fund (IMF) African Department Speakers Series. The session, which was moderated by the Director of IMF’s African Department, Abebe Selassie, was titled, “Central Bank Digital Currency (CBDC) and Private Digital Payments in Kenya and Nigeria: Challenges and Opportunities for Sub-Saharan Africa.” Obiora said: “Nigeria is building one of the best payment systems in the world as we speak. Even in digital payments, we’ve seen the value of our digital payments grew from around $324 billion in 2008 to about $2.4 trillion now, so Nigerians are already very used to digital payments. As you know, even within the continental have one of

the largest FinTech companies flutterwave and a lot more or Opay, Paystack stack come on board every year.” He also added that the Central Bank of Nigeria (CBN) has announced plans to introduce an unstructured supplementary service data (USSD) code to improve the adoption of its eNaira. He noted that the introduction of the USSD code is crucial to improve financial inclusion in the country and to ensure people without smartphones could still transact on the eNaira platform. “We have made serious progress in the last seven to eight years because when the current governor resumed in 2014, one of the pillars of his vision was to significantly improve financial inclusion. “So at the time, we were at 48 percent of our population within the financial system and given several policies that he conceived and implemented, we are almost at 70 percent. That still leaves us with about 30 percent of our population out of the financial system and we believe the CBDC can help reduce that number even more, “he said.

MONDAY, JUNE 13, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

The Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello Koko in a handshake with the visiting Director General, Bureau of Public Service Reforms (BPSR), Dr. Arabi Ibrahim Dasuki at the Corporate HQ, NPA, Marina, Lagos

CITN Hopeful of Economic Growth amid Rising Inflation Omolabake Fasogbon The Chartered Institute of Taxation of Nigeria (CITN), has expressed optiism on improved growth in Nigeria’s economy inspite of rising inflationary challenge. In March 2022, inflation rose to 18.17% from 17.33% recorded in February 2022. This represents 0.82% points higher than February figure, according to Consumer Price Index report released by the National Bureau of Statistics. Despite this trend, President of CITN, Adesina Adedayo maintained that Nigeria’s economy was on the path to growth across all indices, with right policies in place

and well implemented. Adedayo who was speaking at the institute’s Annual General Meeting, AGM noted that circumstances around the economy has a major influence on the growth and development trajectory of the institute. He stated that inspite of economy challenge, the institute was fixed on becoming one of the foremost professional institutions in Africa and beyond, hence its appreciable strides in the year under review. Adedayo listed part of institute’s achievements in the year as meeting and forging strategic partnerships with key stakeholders and relevant government agencies, including Federal Inland Revenue Service,

State Revenue Authorities, Action Aid and regional and international professional bodies, amongst others. He said, “The institute’s views and opinions on tax matters remained widely respected and sought after by the government and other stakeholders in the Nigerian tax system”. Earlier, Treasurer of the institute, Simon Kato, stated that the institute recorded an operating surplus of N145 million, representing an increase of 28.82 per cent as against N113 million recorded in 2020. He said that the institute’s total assets had improved from N1.56 billion to N1.824 billion between 2020 and 2021.

Lafarge Africa Rewards Customers for Top Performance Kayode Tokede In a bid to celebrate high performers and support the business growth of its trade partners, the leading innovative and sustainable building solutions company, Lafarge Africa Plc., has rewarded its performing trade partners for excellent performance in the year 2021. The Customer Awards ceremony held in Lagos recently, was an opportunity for the company to appreciate its customers who had consistently demonstrated high volumes across the four regions of the country. The star prize for the National Volume Champion was a 2022 Lexus LX570, while the 1st and 2nd National Volume RunnersUps, both received a Toyota Land Cruiser. Also, the Regional Champions across the 4 regions of the country were presented with Hyundai SantaFe cars. Other non-volume related

awards were also presented. In addition to trade customers, the company’s key account customers were also rewarded for volume recognition and value adding in the category. The 2022 awards are significant and mark another milestone in the history of the company as it was the first time the company celebrated key customers from its ReadyMix Operations and Mortar operations. Speaking at the event, Country CEO, Lafarge Africa, Mr. Khaled El Dokani appreciated the dealers for their immense contribution to the growth and success of the company in the previous year. “Last year was remarkable for our dear company, sales increased significantly as market demand remains strong with about 90% of cement sold and utilized by individual home builders, with some growth in infrastructure projects. This feat would not have been possible without the efforts of you valued men and women here seated.”

“We will continue to support and stand with you in every way. We ask that you work together with us as committed partners while counting on your support to achieve our desire for customer alignment, market expansion and the synergy of our processes for the benefit of all our stakeholders,” he stressed. Also speaking at the event, Commercial Director, Lafarge Africa, Gbenga Onimowo, commended the distributors for the effective delivery of the company’s products to the end users. “I am particularly proud of the synergy that exists between you and our team. From overseeing the movements of products from our plants to the points of sale and managing all attendant risks, our distributors have been able to bring real value to the end user and in good time too, which has helped to enhance our reach and ensure year-round availability of our leading product brands across the country.”

FCNL Wins Double Awards,Vows to Scale Up Services in Oil Sector Emmanuel Ugwu-Nwogo in Umuahia The Chairman of Future Concerns Nigeria Limited (FCNL), Engr Anthony Oguike has said that the firm was poised to scale up its services following the double awards it won at the 2022 Shell Leaders and Contractors CEO Conference held in Port Harcourt. The FCN Group bagged two leadership awards in two categories-Leadership and learner mindset as well as wellness and care responsibility awards - at the event held recently in the Rivers State capital as part of the CEO leadership charter. Oguike stated that FCNL has continued to strive in its efforts “to bridge the gap between knowledge, leadership, and learning as well as achieve results by empowering

young vibrant and veteran professionals with leadership skills and values”. According to him, imparting such skills and values was aimed helping the professionals to make long-lasting strides and contributions within society, and ultimately toward ensuring high performance at the client location. “We insist on not just professionalism, excellence as a habit, but integrity, happiness, knowledge, commitment, honesty, and innovation,” he said. The FCNL Chairman noted that “leadership and learning are indispensable to each other which is what drives us to collaborate and to innovate solutions for our clients”. “Leadership around here means that for everything we start, we will finish and learner mentality has

helped us adopt winning ways and best practices from clients and Shell is at the pinnacle of such transfer of knowledge,” he added. Engr Oguike explained the the growth of the firm “stems from our mantra - CRIC- which stands for Competence, Respect, Innovation, and Client-focus, all these drive everything we do”. While expressing his gratitude to Shell for the accolades, awards and for providing industry relevant trainings through the years, Oguike also assured Shell that FCNL would post “better performance moving forward”. In attendance at the conference was Mrs. Eunice Ekwenugo, Chief Operating Officer, COO Future Concerns Safety Center who was acknowledged for 25 years of meritorious service at The Future Concerns Group.

T H I S D AY ˾ MONDAY, JUNE 13, 2022

BUSINESSWORLD

NEWS

IARA: Strong International Traffic Propels Continuing Air Travel Recovery Chinedu Eze The International Air Transport Association (IATA) has announced that air travel resumed its strong recovery trend in April, despite the war in Ukraine and travel restrictions in China. This was driven primarily by international demand. It stated that total demand for air travel in April 2022 (measured in revenue passenger kilometers or RPKs) was up 78.7% compared to April 2021 and slightly ahead of March 2022’s 76.0% year-over-year increase. April domestic air travel was down 1.0% compared to

the year-ago period, a reversal from the 10.6% demand rise in March. This was driven entirely by continuing strict travel restrictions in China, where domestic traffic was down 80.8% year-to-year. Overall, April domestic traffic was down 25.8% versus April 2019. International RPKs rose 331.9% versus April 2021, acceleration over the 289.9% rise in March 2022 compared to a year ago. Several route areas are actually above pre-pandemic levels, including Europe – Central America, Middle East – North America and North America – Central America. April 2022 international RPKs were down

43.4% compared to the same month in 2019. “With the lifting of many border restrictions, we are seeing the long-expected surge in bookings as people seek to make up for two years of lost travel opportunities. April data is cause for optimism in almost all markets, except China, which continues to severely restrict travel. The experience of the rest of the world is demonstrating that increased travel is manageable with high levels of population immunity and the normal systems for disease surveillance. We hope that China can recognize this success soon and take its own steps towards normality,” said

IATA’s Director General, Willie Walsh. Looking at the market by regions, IATA stated that European carriers’ April international traffic rose 480.0% versus April 2021, substantially up over the 434.3% increase in March 2022 versus the same month in 2021. Capacity rose 233.5% and load factor climbed 33.7 percentage points to 79.4%. Asia-Pacific airlines saw their April international traffic climb 290.8% compared to April 2021, significantly improved on the 197.2% gain registered in March 2022 versus March 2021. Capacity rose 88.6% and the load factor

was up 34.6 percentage points to 66.8%, still the lowest among regions, while the Middle Eastern airlines had a 265.0% demand rise in April compared to April 2021, bettering the 252.7% increase in March 2022, versus the same month in 2021. April capacity rose 101.0% versus the year-ago period, and load factor climbed 32.2 percentage points to 71.7%. Meanwhile, the North American carriers’ April traffic rose 230.2% versus the 2021 period, slightly above the 227.9% rise in March 2022 compared to March 2021. Capacity rose 98.5%, and load factor climbed 31.6 percentage points to 79.3%

and Latin American airlines experienced a 263.2% rise in April traffic, compared to the same month in 2021, exceeding the 241.2% rise in March 2022 over March 2021. April capacity rose 189.1% and load factor increased 16.8 percentage points to 82.3%, which easily was the highest load factor among the regions for the 19th consecutive month. Also, African airlines’ traffic rose 116.2% in April 2022 versus a year ago, which is acceleration over the 93.3% year-over-year increase recorded in March 2022. April 2022 capacity was up 65.7% and load factor climbed 15.7 percentage points to 67.3%.

Lekki Port Celebrates World Environment Day With Beach Clean-up

L-R: Executive Director, Technical, Prestige Assurance Plc, Mr. Raja Vadlamudi; Managing Director/CEO, Mr. Rajesh Kamble; Acting Chairman, Sir Muftau Oyegunle; and Acting Company Secretary, Mrs. Chodinma Ibe-Louis, at the 52nd PHOTO: ETOP UKUTT Annual General Meeting of Prestige Assurance Plc held in Lagos… recently

To celebrate World Environment Day 2022, Lekki Port teamed up with African Marine Environment Sustainability Initiative (AFMESI) to carry out a clean-up exercise of the beach and coastal environment of Magbon Segun and Oke Segun communities in the Ibeju Lekki area of Lagos State. The theme for this year’s World Environment Day, which was June 6, 2022 is ‘Only One Earth’, and it is a call for collective, transformative action on a global scale to celebrate, protect and restore our planet. The clean-up initiative was put together as part of Lekki Port’s efforts to ensure environmental justice. Lekki Port is continually committed to the environment by upscaling its investment in the sustainability of its host communities through the creation of better household waste management and awareness of

the impact of waste on humans and the environment. Speaking at the event, the Managing director of Lekki Port, Du Ruogang, said the initiative was Lekki Port’s contribution to take care of the earth and its natural resources. He said, “We thank our Baales and the host communities for allowing us to carry out this clean-up event in their space and we will surely ensure that it is not a one-off occasion. We are all enjoined to celebrate, protect and restore our planet starting with our immediate environment.” AFMESI Founder/President, Dr Felicia Mogo, said this initiative was borne out of the need to curb waste dumping with intervention programmes set in place to support the communities, such as the provision of waste bins and tools while creating awareness of the impact of waste.

Araoye: Nigeria Can Achieve $500bn Non-oil Inflow High Ticket Costs, Travel

Nume Ekeghe

The Managing Director of Lotus Bank, Ms Kafilat Araoye has said the country is able to achieve beyond the goal of $200 billion inflow from non-oil exports over the next two to five years with the collaboration of stakeholders in the economy. Araoye while speaking at the Lotus Bank Exporters’ Forum 2022 over the weekend in Lagos, said with the resources of the country, Nigeria is able to achieve

up to $500 billion over the next five years, if the non-oil export sector is enabled. He was corroborated by the Director, Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji in her keynote address titled, “Identifying and Overcoming the Challenges of Non-Oil Export Trade.” Nnaji said the apex bank is willing to partner with all stakeholders in order to deliver on the mandate. The CBN had earlier this year introduced the RT200,

which is targeted at achieving $200 billion in non-oil export foreign exchange inflow over the next two to five years. According to the Lotus Bank MD, Araoye, this is a feat that is achievable if the county taps into the several natural minerals that abounds in it as well as the diverse exportable agricultural products. “We are a country that needs to generate revenue, and one way to generate revenue, especially in foreign exchange so that the naira can appreciate is the non-oil export area.

Yes, we are an oil-producing country but we don’t want to be predominantly oil. The non-oil export is so critical to growth that the CBN has taken a very bold initiative with the RT200. “Before the RT200, some of us have been clamouring for the need to emphasise more on non-oil export to save the country from trade deficit. We need to be made exporters and not just importers. We are happy to cooperate with the CBN, and as a bank, we are going to be supporting the real sector, “he said.

Techhaven Empowers Over 300 Nigerian Youths with Digital Skills Emma Okonji No fewer than 389 Nigerian youths have benefitted from the mentorship programme organised by Techhaven, a Non-profit Technology Education community, set up to empower Nigerian youths with digital skills and enable their transition into careers in the technology sector. Founded in 2017 by Imole Oluyemi, Techhaven through the free annual mentorship programme, empowered Nigerian youths with high in-demand technology skills such as Product Design, web and mobile app development, which enabled them to land

roles in top companies in Nigeria and overseas. The 2022 edition tagged: “Techhaven 3.0 Mentorship Programme” which held recently, targeted youths across Nigeria, but unlike in the previous editions, it was 100 per cent virtual and focused on empowering participants to transition into No-code and Low-code roles in Product Design, Product Management and Cybersecurity. The mentorship programme, which lasted for nine weeks, saw over 200 youths participating, receiving mentorship from top industry professionals including Helen Oluyemi - a

cybersecurity professional whose experiences cut across Telecom, Consulting, and the Financial sector in Nigeria and the United Kingdom; Tomisin Agbaje, one of Nigeria’s most experienced and versatile Product Managers and Ridwan Egbeyemi - a highly experienced Product Designer and entrepreneur with experience spanning several industries. Other facilitators included Kehinde Odewole - a Techhaven alumnus and Product Designer with experience spanning Finance and logistics industries in both Nigeria and Germany.

Other guest facilitators who shared their wealth of knowledge with the students during the programme included Senior Product Manager at Craneware, Seunla Osinowo; Product Manager at Topflight Apps, USA, Tobi Esho; Senior Product Manager at Paystack, Nigeria, Temi Giwa and Senior Product Designer at Babylon Health, UK, Hugh Leoidsson. Speaking on the programme, the founder, Imole Oluyemi said: “This period presents an opportune time to equip Nigerian youths with the relevant digital skills needed to play an active part in the global digital economy.”

Apathy Responsible for Low Traffic in Africa, Says AFRAA Chinedu Eze African Airlines Association (AFRAA) said that Africa passenger traffic volumes remain low because of the high-ticket cost and travel apathy, giving hope that with the continued relaxation of lockdown and Covid-19 restrictions in many countries, traffic would increase “as we approach the summer holiday peak season.” High fuel cost due to the Russia-Ukraine war and the fact that many African countries import petroleum product, including Nigeria, which is a major export of oil and gas, reflect the high international prices in the domestic airfares and this has driven up the fares. AFRAA said airline revenues remained low with many operators battling with cashflow issues, adding that full year revenue loss for African airlines for 2022 is estimated at $4.1b, equivalent to 23.4% of the 2019 revenues. “In 2021, African airlines cumulatively lost $8.6b in revenues due to the impact of the pandemic, representing 49.8% of 2019 revenues,” AFRAA said. as a way of improving air travel in Africa, AFRAA stated that Chinese authorities have set out plans to ease Covid-19 restrictions in stages for a return to more normal life from 01

June 2022. But Eastern Asia and America are facing rising number of cases of COVID-19. Europe is envisaging a new wave of contamination due to two Omicron sub-variants and has initiated measures for closer surveillance. “Worldwide, the cumulative number of Covid-19 cases has reached 523 million of which 12 million are in Africa. The global recovery rate is 98.8% compared to 97.9% in Africa. “In other developments, average jet fuel price continues to rise globally, impacting on airlines operating costs. From the mid-May average price of 146.5/bbl, as Platts estimated the impact on airlines 2022 fuel bill is $121.1 billion. “In the month of May 2022, AFRAA estimates that African airlines’ capacity deployed reached 76.6% of 2019 capacity. Traffic recovery is now at 66.3% of 2019 pre-Covid level,” the regional body said. AFRAA also observed that domestic markets remain dominant in both capacity and actual passenger carried. “Domestic demand at 42.1% outperformed intra-Africa and intercontinental which remained subdued at 30.2% and 27.7% for intra-Africa and intercontinental respectively. The percentage of international routes operated by African airlines is estimated to reach an impressive 92.2% in May 2022 compared to Feb 2020,

MONDAY JUNE 13, 2022 • T H I S D AY

MONDAY JUNE 13, 2022 • T H I S D AY A D V E R T O R I A L

MONDAY JUNE 13, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, JUNE 13, 2022

HOMES&DESIGN

OXYGEN APARTMENTS:

Breathing Life into Lagos Skylines Oxygen Apartments/Towers is a development imbued with an exclusive lifestyle and nestles on the serene waterfront at Lekki Phase 1, Lagos. The towers exude sheer grandeur. Bennett Oghifo writes

xygen Towers is a 10-Floor highrise fitted with a selection of one, two, and threebedroom apartments and four-bedroom maisonettes, all rooms ensuite. Each has a generous layout with wide terraces, unrivalled opulence, and grandeur in an enchanting contemporary architectural design. The apartments are an airy, spacious mixture of elegance, class, style, and a perfect blend of living, work and play environments. Its proximity to upscale shopping malls,

fine restaurants, lounges, bars, exquisite cafes, and world-class cinemas emphasises the edifice promoters’ model to promote a lifestyle. Oxygen Towers is also located in Periwinkle Lifestyle Estate in Lagoon District, Lekki Phase 1, a luxurious residential scheme in Lagos. Situated next to Victoria Island and Ikoyi, it is considered one of the most expensive areas in Nigeria. This is due to its proximity to highbrow business areas and expensive properties. The neighbourhood is

popular for business, recreational and fun activities. There are two blocks of apartments sitting on 4000m2. They are the East and West wing blocks. The East and West blocks are nine suspended floors, with the ground floor designated for parking and recreation. The East and West wing are a mix of one, two, and three-bed apartments with four-bedroom maisonettes, all rooms ensuite. The promoters said that both are highly sought after by the young, upwardly mobile

bluechip employees and others buying for investment. There are state-of-the-art facilities in the towers, and the exquisite property states out among others of its stature in the area. There is a 24-hour power supply; stylish red interlock road; 24-hours security; efficient lighting; sewage treatment; heat/smoke detectors; adequate parking; covered drainages; landscaping; fibre optics; swimming pools; CCTV; electronic access control; stylish waterside living; and highpressure water, among others.

MONDAY, JUNE 13, 2022 ˾ T H I S D AY

BUSINESSSPECIAL

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

Glazebrook: There are Great Investment Opportunities in Nigeria

The Chief Executive of the Commonwealth Enterprise and Investment Council, Mrs. Rosie Glazebrook, was in Nigeria recently to drum support for the Commonwealth Business Forum 2022 holding in Rwanda this month. She spoke with journalists on the objectives of the business forum. Dike Onwuamaeze brings the excerpts: You have just been appointed the chief executive of the CWEIC. What will partners be expecting from you? aybe I can start with a little bit of background about the Commonwealth Enterprise Investment Council (CWEIC), which gives the context about how we work with our strategic partners. We are an industry body that exists to connect businesses and governments across the 54 Commonwealth countries. We reach out to a huge population across the world. We see a great advantage, which we call the Commonwealth advantage through our shared language and shared legal system and history, and longstanding links together. In total, we have about 100 strategic partners of which we have a lot number in Nigeria, which is one of the purposes of my visit here. This time we have 15 in Nigeria. And also I want to mention that we have 10 hubs around the world, including here in Nigeria where we have representatives, and across the world from United Kingdom, Australia, India, Singapore, Malaysia, Sri Lanka, Malta, Gibraltar, Ghana, etc. So, we have a wide network of hubs that is available for our strategic partners to work closely with. The purpose of my visit this time is to meet the strategic partners we have in Nigeria. I am very pleased to be meeting many of our Strategic Partners and also potential strategic partners. There are a number of businesses being invited to join our network as strategic partners in the several meetings I have had since arriving Nigeria to understand our priorities. The other activities that are helping to achieve these are to raise awareness of the Commonwealth Business Forum (CBF 2022) and also to bring some of my understanding to the Nigerian market by listening to some of the needs of our strategic partners who are here. We also have a Nigerian International Advisory Council which constitutes of all our strategic partners in Nigeria.

has multiple members of law professional firms in the CWEIC’s strategic partnership that have Nigerian representatives on it. So we bring together people with common aims and also provide visibility and access to key decision-makers in government and other businesses.

You said you are here to create awareness for the council. What is CWEIC offering to Nigerian businesses? What CWEIC offers is a number of key things. The first is facilitating access to the top level of government. To give you an example, on May 23 we had a roundtable at 10 Downing Street in London, with the Prime Minister of the United Kingdom attending. And some of our strategic partners from Nigeria will be attending that event. We are able to connect businesses at the top level of government. That gives you a flavor of how we support our strategic partners. The CBF 2022 will be taking place in Kigali, Rwanda. Can you throw more light about the forum? I am delighted to talk about this. The Commonwealth Business Forum (CBF 2022) is organised by CWEIC in partnership with the Government of Rwanda. The CBF 2022 will address the Commonwealth Head of Governments Meeting (CHOGM) theme: “Delivering a Common Future: Connecting, Innovating, Transforming,” with a focus on rebuilding and reinvigorating the global economy post COVID, and the leadership role the Commonwealth and the Commonwealth private sector can play in accomplishing this.

Glazebrook This is the first time the Commonwealth Head of Governments Meeting (CHOGM) will be returning to Africa after quite a long time and the business forum is for three days before the CHOGM meeting. We are delighted that His Excellency, President Paul Kagame of Rwanda will be opening the business forum while The Prime Minister of the United Kingdom, Mr. Boris Johnson, will be attending the CBF 2022 as well as The Prince of Wales. One of the key themes at the CBF is energy and energy security. It is a very big program of different events involving speakers and our Nigerian strategic partners will be sitting on panels and contributing at this event to a global audience of key leaders across the Commonwealth’s biggest businesses. It is a very important flagship event for all Commonwealth countries and His Excellency, President Muhammadu Buhari, will also be attending the CHOGM. I think from the perspective of the CWEIC, we want to encourage as many businesses from Nigeria to bring delegations and to have their voice heard at this very important event. I am delighted that so many of them are planning to attend. How will the CWEIC help Nigeria to improve its Ease of Doing Business? The first thing to say is that the CWEIC is an enabler and makes the introductions where there are obstacles that might do with policy issues or challenges of having visibility at the right place, we are able to use our hub network and access to different organisations at very senior levels, for example, the Commonwealth Business Forum, to really facilitate that. This will help Nigerian companies have their voices heard in an international context. We have the Commonwealth Law Network (CLN), which

Over the years we have seen an increased interest in the transition from fossil energy to cleaner energy sources. How will the CWEIC help Nigeria to accelerate its transition to cleaner energy? I joined very recently. This is my first visit since I took on the job this May. During COVID-19 pandemic, we put together a series of webinars and in particular those around energy security and other aspects with our strategic partners, and now we are able to work in person it will be something we will be discussing in the next few months. And looking forward is how we can make sure that the voices of our Nigerian strategic partners and businesses are part of that conversation. And certainly in my meetings with our strategic partners in Nigeria during my visit this issue of sustainability was a common theme across many of our strategic partners who are working in the energy sector. So, we will be looking to bring together different views and working with experts in the field to encourage sharing of information and best practice and knowledge. And that is one of the key themes we will be looking at. Is Nigeria still attractive to the Commonwealth for investments given the country’s rising economic relation with China? There are great investment opportunities in Nigeria from a CWEIC perspective. We see huge opportunities here. We have talked about energy transition and that is certainly a key area for opportunities for us to do more work with Nigeria. And having meetings with some of our strategic partners, there is desire to expand their connections in an international context that we can help. And that is bringing opportunities back into Nigeria. I met with some leaders in the chambers of commerce and we were discussing how we can work together to bring knowledge to Nigeria. In answer to your question, yes we see opportunities here. But I cannot comment on Nigeria’s relationship with China. But from the CWEIC perspective, we will prioritise our relationship with Nigeria. This is my first overseas visit and we see fantastic opportunities to build our relationship together. Why did you choose Nigeria as your ﬁrst overseas destination? It is because we have very strong relationships with our strategic partners here. We have the potential to grow our relationship with future strategic partners, and that is why we have had the whole series of meetings over my short time here. We really want to encourage trade and investment opportunities between different Commonwealth countries. And Nigeria is

very well placed in Africa for me to see how we can do that. My background is in interfacing businesses and governments. But I am also interested in my meetings in Nigeria around professional services and standards. That is something that I will like to understand more about how we can work together across the Commonwealth to build some further links. There is also the Commonwealth’s standard network and I am also involved in the British Standards institutions. So, that seems to be an area that I am interested in Nigeria. It is very much about encouraging the Nigerian community to prioritise going to the business forum in Rwanda on June 21 and 23. The program will reflect the interest of businesses here and our Strategic Partners are part of that program. What sectors are you targeting within the next 12 months? That is a very good question. We talked a bit about energy security and I am sure that will certainly be one of them. Another area that we are looking at in our program is professional services. The other area is food security and how that will be impacted by the events in the world today. I think the other area for some of our members is tourism, particularly in the 32 smaller Commonwealth countries. The other key theme is around sustainability and climate change making sure that it is kept at the forefront. We are also looking at financial services and fintech and making sure that we listen to our strategic partners and picking areas that are particularly of interest to them and where we think that we can add the most value. We are really going to prioritise some of these. What is your message of hope to Nigeria’s business community? My message of hope to the Nigerian business community is that there are such opportunities coming out of the pandemic and being able to make these connections really work for businesses. My message of hope for Nigerian businesses is “please come to the Commonwealth Business Forum (CBF 2022) to have the maximum visibility and connections that we think that we can really help businesses here to have. We hope that we are doing really valuable work for the Nigerian business community and the list of our strategic partners is evidence of the importance they put on the success of our network. How can the CWEIC intervene to enhance the capacity of Nigerian youths? One area where we are very interested also in prioritising is skills in young people and we collaborate closely with the Association of Commonwealth Universities. One of the areas we will be looking into to do more on is forming partnerships between academic partners, the universities, and the business sector. And that may take the form of internships and upscaling stuff within some of the industries here and elsewhere and that is another area that I am particularly interested in going. Nigeria has a very young workforce and education is very much prioritised here. So, I am hopeful that that might be an area that we look to do more on.

Nigeria’s Regulatory ‘Crypto-twisting’ Fist Awele Ohaegbu

he Central Bank of Nigeria (CBN) on 5th of February 2021, instructed the identification of individuals and platforms engaged in cryptocurrency transactions with the aim of stopping its trade and facilitation. The CBN’s stance may be justifiable, as there was a growing risk and the perceived need to control what seemed like an offthe-radar path to escaping financial

regulation through cryptocurrency transactions. This decision however sparked outrage, controversy and some setback for the rapidly growing financial technology sector, which is said to have attracted more than $600 million in foreign investment between 2014 and 2019. In what was perceived as an attempt to cushion the crackdown, the e-naira was launched on the 25th of October 2021 as a Central Bank Digital Currency (CBDC), issued and regulated by the apex

body and pegged to the value of the naira. Although a CBDC is not a cryptocurrency, it is best described as a crypto-asset or digital asset. So, within one year, the CBN clamped down on the country’s bustling cryptocurrency engagements, it also became the first African country to own a national digital currency. On May the 11th, 2022, the Securities and Exchange Commission (SEC) published rules on the issuance, offering and custody of digital assets on its website. The 54-page document

targets sponsors, issuers, domestic and international platforms that facilitate digital asset transactions, including cryptocurrencies. In what seemed to be a coincidence, these new guidelines came immediately after the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva urged countries to look into the digital future and adopt public digital platforms to connect payment systems. She emphasised that even though the risk of fragmentation exists, it is worth

exploring the idea of a platform that connects diverse forms of money for different categories of people in all countries. With a gradual trend of corporations keeping cryptocurrencies as assets, even declaring the same on their balance sheets, it is clear that the mindset is tilting towards wider acceptance, despite sanctions to discourage full adoption. H. Pierson Associates commends SEC for its new guidelines that will strike the balance between regulatory standards

and cryptocurrency operations in Nigeria. It is recommended that conventional financial institutions acquire requisite knowledge to fully harness the benefit and opportunities of digital assets. This recommendation is imperative because with a cryptovibrant youthful population such as ours, liquid currency advocates can only gain fewer counterparts. t %S 0IBFHCV B 4FOJPS Consultant and Practice Lead at H. Pierson Associates Limited, wrote in from Lagos.

T H I S D AY ˾ MONDAY, JUNE 13, 2022

BUSINESS SPECIAL

ANALYSIS

Emodi: Insecurity in Nigeria Hurting Investors’ Confidence Azubike Emodi is the Managing Director of Anchoria Asset Management. He has over 15 years’ experience in the financial service sector. Prior to his present role, he had worked as the Managing Director of VFD Microfinance Bank. In this interview, he speaks about investment opportunities in the Nigerian economy as well as the recent relaunch of his organization. Excerpts: What is your assessment of the performance of the Nigerian economy so far in the first half of 2022? espite a moderate growth of 3.40 per cent in 2021, the economy continues to grapple with severe economic challenges in the current year some of which include the increasing inflationary pressure, the forex liquidity challenges and rising fiscal debt. Amidst these, the 2022 budget grew by 18.5 per cent to N17.3 trillion, committing another N7.3 trillion in deficit in the face of a rising debt profile and low revenue generating capacity. Also, the myriad on new taxes introduced to broaden the country’s revenue base - like the N10/litre sugar tax on non-alcoholic drinks, and the six per cent tax on digital services, may further stifle output growth and contribute to the rising cost of doing business in the country. Furthermore, we saw stand-out policies like the Forex Repatriation Initiative, RT200, created to support forex supply and alleviate currency pressures. While some of these policies are commendable, I believe they are insufficient, considering our unsophisticated export basket and sustained underinvestment in the oil sector.

What are those attributes or unique selling points that set Anchoria Asset Management apart from its peers in the market? At Anchoria Asset Management, we deliver best-in-class innovative investment products that create, grow, and preserve wealth for our clients. We are particular about what our customers want and what products will be beneficial to them at every stage of their life.

Looking at the Nigerian economy, what policies would you recommend to policy makers to stimulate growth? I will recommend a policy that tackles the unreliable agricultural infrastructure across the states, as this will help achieve our long-standing objective of self-sufficiency and expand our export base. Next on my list is insecurity. This challenge threatens major business activities and investors’ confidence, a policy that addresses this will help contribute considerable growth. Also, I think a marketbased and transparent forex policy is imperative to address the underlying issues behind the forex crisis and provide incentives for foreign direct investments into the economy. Lastly, I believe we need to prioritize development of our education and health sector for effective human capital development and growth, as the current negligence towards the sector is engendering economic prosperity for the future of Nigeria. So, what is your assessment of the present investment climate and what form of advice will you give to someone looking for where to invest? Investors can consider foreign currency denominated investments. These investments can be either mutual funds, equities or Eurobonds investments. Investors can earn returns in the form of interest payments, capital appreciation, or coupon on the bonds. We have also seen the Nigerian stock market return over 20 per cent so far, owing to improved domestic participation, impressive corporate earnings results, high dividend yields, unattractive fixed-income yields, as well as some other corporate actions. Year-to-year, few top performing stocks include

Can you take us through some of your products? Like I mentioned earlier, we have a product for everyone. Some of them are: Portfolio Management: Our team of experienced wealth advisors can help clients invest their funds in various profitable investment instruments. They leverage their extensive understanding of the local and global markets, returns and risk appetite of the clients to make these decisions. Mutual Funds: We have 3 products in this category. The Equity Funds, Fixed Income Funds & Money Market Funds. The risk on these funds ranges from low-moderate and you need just N5,000 to begin investing in any of these products. The mutual fund is a perfect option to start small and earn more on periodic savings. Eurobond Linked Notes: This is a perfect option for investors who will like to diversify their investment in a dollar denominated fund. This fund invests in dollar denominated securities like Eurobonds and investment grade corporate bonds. Fixed Term Deposit: This fund allows clients invest for a fixed period to earn interest of up to 13%. The tenure ranges from 30 -365days and it is also a low risk investment. For more information on our products, prospects can visit anchoriaam.com to learn more.

Emodi GUINNESS (+123.33%), SEPLAT (+100.00%), AIRTELAFRI (+85.30%), PRESCO (+84.51%), and FIDSON (+76.85%). Additionally, investors can consider investments in commercial papers, such as treasury bills. They offer better yields when compared to treasury bills instrument and further reduces the impact of inflation on investment. For context, the yield on commercial papers averages about 12 per cent compared to the average yield on treasury bills of three per cent. Also, due to the expectation of higher yields in the fixed income space closely linked to the government’s high domestic borrowing plan and high inflationary pressures, the returns on fixed income mutual funds are expected to improve, providing investors with yet another good investment opportunity. What informed the decision to relaunch Anchoria Asset Management few weeks ago? Given our track record of success since

inception, it became important for us to reinstate our experience in the industry, reintroduce our products and services and enlighten the public on our plans. We decided to re-announce our existence in the industry. What are your expectations from the brand going forward? For us at Anchoria Asset Management, the promise is simple; Excellence. Our different products have been created to suit the lifestyle of our clients at different stages of their lives. Whether Portfolio Management, Fixed Term Deposit, Eurobond Linked Notes, Treasury Bill Linked Notes, Fixed Income Investment, Mutual funds or investment advisory, there’s a product for everyone. We also recently launched our mobile app, SEEDs that helps our clients easily subscribe to any of our products and manage their investments on the go. This app is available to download on Play and App store.

In the next three to ﬁve years, where do you think the company would be? In 3-5years we intend to be the leading asset management company deploying innovative products, solutions and opportunities that result in sound rewarding investment decisions for our clients. In terms of policy expectations, what types of favourable policies do you think your regulator(s) can introduce to support the sector? As the year continues to unfold, prioritizing these policy mix in the medium term should bode well for the sector. Clearly, the long-term policy of a stable exchange rate with multiple windows has produced limited benefits and created uncertainties in the financial sector, hence a gradual approach to establishing a unified and clear exchange rate regime would moderate the premium demand in the parallel market and even help drive the stability of the sector.

Eliminating Food Insecurity in Nigeria Hamid Ayodeji

he recent statistics by the National Bureau of Statistics (NBS) revealed, said the inflation rate rose to 15.92 percent in March 2022, representing a 0.22 percent point rise when compared to 15.7 per cent recorded in February 2022. The Bureau also said that the composite food index rose year-on-year (YoY) by 0.09 percent points to 17.20 percent in March 2022 from 17.11 per cent in February 2022. In its Consumer Price index (CPI), the bureau said the rise in the food index was due to increases in prices of bread and cereals, food product, potatoes, yam and other tubers, fish, meat, oils, and fats. The above statistics are manifest with a panoramic view of the present state of livelihood in Nigeria, which gives a glimpse into the level of poverty ravaging the nation with respect to food security. Staple foods such as garri, corn, rice, yam, beans, millet,

potatoes, and others have all jerked up with prices above the common man’s pocket. With the rising food inflation, it is not uncommon that some households could have been forced to the ratio of 0.0.1 or 0.1.0 for their daily meals. This is chiefly associated with shrinking income or stagnated income that is no longer sufficient to meet the rising cost of food products. Also in recent times, a report processed by the United Nations Food and Agriculture Organisation (FAO) in collaboration with the Federal Ministry of Agriculture and Rural Development (FMARD) disclosed that about 18 million people will face food insecurity across Nigeria between June and August 2022. The stakeholders’ report laid emphasis on acute food and nutrition insecurity in the Sahel and West African region. The report said the food crisis will affect Nigerians in 21 states and FCT including, 416,000 Internally Displaced Persons (IDPs). It noted that about 14.4 million people including 385,000 IDPs in 21 States

and FCT of Nigeria are already in the food crisis till May 2022. The analysis for the month of March covered states such as Abia, Adamawa, Benue, Borno, Cross-River, Edo, Enugu, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Lagos, Niger, Plateau, Sokoto, Taraba, Yobe, Zamfara, and the Federal Capital Territory (FCT). Not forgetting that in the 2021 Global Hunger Index, Nigeria ranks 103rd out of the 116 countries with sufficient data to calculate 2021 GHI scores. With a score of 28.3, Nigeria has a level of hunger that is serious. This narrative is obvious and needs to be changed with all hands-on deck to bring about actions that will take Nigerians out of hunger. These various reports are very timely warnings to save the nation and the West African region from impending famine. Whilst this is frightening, it does not call for quivering but swift action to avert the danger of a famine outbreak. The call and clamour by the Federal Government in recent times for individuals and corporates to

invest in agriculture and drive towards attaining food sufficiency and reducing imports have become a public outcry. The time is now for us as a nation to take the bull by its horns to employ all necessary tools and technology to maximise food production. With modern technologies and the deployment of the right tools in place, farmers can boost productivity and achieve greater crop yield through the practice of Precision Agriculture (PA). according to the National Research Council, 1997, Precision Agriculture is “the application of modern information technologies to provide, process and analyse multi-source data of high spatial and temporal resolution for decision making and operations in the management of crop production.” With the adoption of the science and art of precision agriculture through innovative technology such as FarmSense, a technology developed by AirSmat to address the need to increase efficiency and sustainability of the farming

business by offering extraordinary access to real-time information that can help guide in-season decision making. FarmSense is a device that will be placed on the farmland to help in the gathering of useful information from the farm, stores and transmits the data to the farmers in real-time on their smartphones so they can improve their crop productivity and secure the supply chain of the future in Nigeria and across Africa. With FarmSense, farmers will be able to maximise yields, conserve resources such as water and fertiliser application, reduce waste, and enhance productivity. FarmSense is an IoT (Internet of Things) device. The functionality of the product is powered by GSM and Satellite which enables instant connections to the internet anytime and everywhere FarmSense is deployed providing 99.9% data updates. There is an agronomic requirement for three sensors per acre providing accurate data on the farmland. Through the data

collected, farmers can work smarter with decision-taking as regards areas that need attention to boost soil nutrients with the application of fertiliser and water. This further save time and cost from guess works which is the application of these soil enhancements at random times instead of precisely to specific areas of the farm. The quest to combat food insecurity in Africa is a dare passion for AirSmat to ensure that in the near and long term, with the technological application, the continent would attain food security to feed its population. AirSmat offers holistic services and solutions for intelligent and precision agriculture using artificial intelligence. The primary goal of the agri-tech start-up is to assist farmers and farm owners in making informed decisions to maximise yields and ensure food security while increasing the bottom lines of agricultural businesses and balancing the demand-supply and price ratios in the market.

T H I S D AY ˾ ˜ JUNE 13, 2022

BUSINESS/MONEYGUIDE

Baobab Microfinance Bank Task FG on Interest Rate, Tax Incentives Gilbert Ekugbe

The Managing Director and Chief Executive Officer, Baobab Nigeria, Dr. Kazeem Olanrewaju, has called on the federal government to as a matter of urgency formulate fiscal policies aimed at reducing interest rate in the country. He added that the recent hike in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN) from 11.5 per cent to 13 per cent would make cost of fund within the financial sector expensive. Olanrewaju stated this on the sidelines of bank’s customers’ forum 2022 in Lagos over the weekend. “It is time for the apex bank to formulate policies to reduce interest rates, make loan cheaper for willing entrepreneurs across the country to create employment opportunities. Maybe if people can access loans faster and cheaper, the issue of kidnapping, banditry and insecurity would subside,” he said. In his words: “The government is an enabler and they need to play that role to stimulate economic

activities in the country where people will be gainfully employed that would translate to economic prosperity to the lives of the citizens.” The Baobab boss also charged economic managers to focus on creating tax incentives to encourage a lot of investors that are going to support the economy. According to him, the current economic situation in Nigeria needs urgent intervention to achieve accelerated economic growth and development. He added that banditry and kidnapping are scaring of local and foreign investors, pointing out the urgent need for federal government to attract investors with tax incentives. “You need to put something on the table such as tax incentives. In the context of what is happening in Nigeria, we need new ways of creating economic opportunities to make Nigeria a destination for investment,” he stated. “The confidence that people have in the economy needs to increase and part of the reasons

why we are probably having a lot of devaluation in the country is that, a lot of people who really do not need foreign exchange are hoarding it and we also need to reassure the people that the economy is robust to gain back investors’ confidence,” he added. He also tasked the federal government to make available a pool of cheap funds to support the microfinance subsector. “Maybe accessing funds is not the problem, the cost of the fund might be the problem, so the government needs to also look at that area to make funds cheaper for entrepreneurs, maybe risk bearing with the banks. There are so many things that can be done. Create the enabling environment for the private sector, put something on the table and then you would see people show interest in the economy” he stated. Speaking on the customer forum, he said is an event organised annually in each of the regions to interact with its customers in a bid to get customer feedbacks.

R-L: Kwara State Deputy Governor, Mr Kayode Alabi; General Manager, Lagos and South West, Sundry Foods Limited, Mr Jubril Shoaga and Mr Babarauf Abdulrazaq during the oﬃcial openings of two branches of Sundry Foods brands in Ilorin, Kwara State capital...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

Nasarawa Launches Pitch Competition to Strengthen MSMEs Igbawase Ukumba ÓØ ËʨË The Nasarawa State government has launched a pitch competition to strengthen the Micro, Small and Medium Enterprises (MSMEs) sub-sector of the state. Managing Director/Chief Executive Officer of the Nasarawa State Investment Development Agency (NASIDA), Mr. Ibrahim Abdullahi, disclosed this last week when presenting cheques to three winners of the competition in Lafia, reiterating the state’s

commitment to that effect. The Managing Director of the state investment agency consequently presented cheques worth $10,000 to the three winners of its MSMEs Challenge Competition. Speaking shortly after presenting the cheques to the winners, Abdullahi noted that apart from the $10,000 prize monies, the agency would provide non-financial support centering on advisory, training and networking which are core to

the growth of small businesses. He said: “The MSMEs Challenge organised by the agency is a pilot project that the state hopes to use to encourage the formation of new enterprises and to urge existing ones extend their service offerings in keeping with its economic develpment plan. “The state government hopes to replicate this project. This is one way we feel we can effectively reach out to businesses that impacted on the economy of the state.”

Sterling Bank Partners Firm to Feed 500 Malnourished Children Nume Ekeghe Sterling Bank Plc has partnered with Community Pot, a social impact project, to launch a pilot project in Lagos to feed 500 malnourished children across Nigeria. Speaking at the launching of the project with the theme: Adopt a Child to Recovery,Chief Executive Officer of Sterling One Foundation Mrs. Olapeju Ibekwe said Sterling Bank is extremely passionate about children and their health. She said the bank was excited to be a part of the project and would support the Community Pot project to feed 200 children for about three months by providing

them with a baby feed known as Toddler Protein. Also speaking, convener and initiator of the Community Pot project Mrs. Kemi Jeje,said, “We want to make impact. We want to make a difference through the initiative.” She noted that at least one of the 17 Sustainable Development Goals (SDGs) of the United Nations (UN) is in alignment with the purpose of the project. “According to statistics, 420,000 children die yearly in Nigeria as a result of malnutrition and until one sees one of them, it is just a number one is hearing,” Jeje observed.

She said about 2.5 million children in the country are deemed to be malnourished and the project would try to reach as many of these children as possible. She described Community Pot as a social impact project that is not-for-profit. “It is what we want to do to add value to the community,” she said. Mrs. Precious Ogbo, a nurse with the Primary Healthcare Centre in Opebi, Lagos, spoke on the benefit of breast feeding children at an early age in life before giving them solid food. She remarked that nursing mothers who could not afford infant formula should add Soya milk to pap drink for their babies so that they could eat healthily.

Sundry Foods Unveils 2 Branches in Ilorin,Applauded by Kwara State Govt Sundry Foods Limited (SFL) has expanded its footprint across the country with the opening of two branches in the ancient city of Ilorin northcentral zone of the country. Deputy Governor of Kwara State, Mr Kayode Alabi said while delivering his speech as the special guest of honour at the official opening ceremony held in Ilorin, the state capital that the state government is delighted to be associated with SFL because of the high standards the company had set in the food services industry in the country. SFL said in a press release signed by Mr Nduka Mokwunye, Head Marketing, that the two new branches are located at 8, AsaDam Road and Post Office

Junction in Ilorin, respectively to offer popular SFL food brands including Kilimanjaro, Pizza Jungle, KiliGrill and Nibbles Ice Cream to its numerous customers and the general public. “As a government, we recognize the potentials of food in bringing people of diverse settings and communities together and that is why we are excited to have Sundry Foods Limited headquartered in Port Harcourt, the Rivers State capital establish presence in our state. ‘’Kwara State government under the leadership of His Excellency, Governor AbdulRahman AbdulRazaq (SAN) has designed a number of proactive investment attractive policies for businesses established in the state to thrive

and our administration remains committed in making business environment in the state safe and conducive for investors,’’ the Deputy Governor said Earlier in his welcome remarks, the Executive Director of Sundry Foods Limited, Mr Nnamdi Opara , said that the two branches were the first to be opened in the state as part of the company’s 2022 planned expansion effort expected to cover major cities in the country. ‘’The event of today is motivated by our strategic expansion effort designed to increase our presence in the north central zone and to give our customers of Kwara State extraction the opportunity to stay connected with our services,’’ he said.

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY MAY 30, 2022

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 ˾ ˜ ͯͱ˜ ͰͮͰͰ

NGX Urges Corporates to Take Positive Actions Towards Sustainability Reporting Kayode Tokede The Chief Executive Officer of Nigerian Exchange Limited (NGX), Mr. Temi Popoola, has called on businesses to adopt sustainable business practices and report sustainability performance to stakeholders to promote inclusivity in transformational initiatives for the economy and society. He made the call while

speaking at the Digital Closing Gong Ceremony, organised by NGX in celebration of the 2022 World Environment Day, themed, “Only One Earth” Popoola noted that the critical roles required of the private sector in actualising the Sustainable Development Goals (SDGs) and the Paris Agreement now enjoys some clarity and as such businesses would need to incorporate environmental

P R I C E S MAIN BOARD

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and social factors into their operations and activities. He said, “we have only one earth and we all have a part to play in preserving it. For this reason, NGX created the Facts Behind the Sustainability Report platform to promote transparency in Environmental, Social and Governance (ESG) disclosures by showcasing the sustainability performance and reporting amongst companies

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listed on NGX. In developing this unique platform, the Exchange’s objectives were to mainstream the adoption of sustainability reporting amongst listed companies so as to increase the availability of decision-useful ESG data that investors can utilize in making investment decisions.” Speaking, the Group Managing Director, Courteville Business Solutions, Dr. Adebola Akindele,

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discussed initiatives embarked on to align his organisation with the SDG goals, such as setting up a social capital management team that trains stakeholders on sustainable business practices, workplace diversity, and cultural background and language. He further suggested the introduction of active carbon trading equipment for motorists to regulate vehicular carbon emissions.

O F

“We are at the forefront of demonstrating sustainable behaviour at Lafarge Africa Plc”, said Country CEO, Lafarge Africa Plc, Mr. Khaled El Dokani, represented by Chief Finance Officer and Executive Director, Lolu Akinyemi, who highlighted some strategies deployed by Lafarge Africa towards providing sustainable building solutions, creating a zero-waste initiative.

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MONDAY JUNE 13, 2022 • T H I S D AY

MONDAY, JUNE 13, 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 09June-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 8.18% AIICO Balanced Fund 3.75 3.81 5.91% 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 N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A 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 22.34 23.02 10.15% ARM Discovery Balanced Fund 517.25 532.85 14.65% ARM Ethical Fund 43.44 44.75 11.50% ARM Eurobond Fund ($) 1.06 1.07 -1.76% ARM Fixed Income Fund 1.04 1.05 2.73% ARM Money Market Fund 1.00 1.00 6.29% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.64 105.64 8.50% AVA GAM Fixed Income Dollar Naira 1,113.55 1,113.55 11.36% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.12 2.12 7.51% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.36 2.42 20.26% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund 1,012.03 1,012.03 4.08% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.05 1.05 3.80% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 6.99% Paramount Equity Fund 20.47 20.84 17.36% Women's Investment Fund 153.45 155.40 8.08% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.07% Cordros Milestone Fund 135.85 136.71 8.93% Cordros Dollar Fund ($) 109.74 109.74 5.10% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1460.3 1460.3 10.46% FBN Balanced Fund 194.62 196.01 11.05% FBN Halal Fund 120.25 120.25 9.24% FBN Money Market Fund 100.00 100.00 6.13% FBN Dollar Fund (Retail) 124.06 124.06 5.49% FBN Nigeria Smart Beta Equity Fund 167.48 169.67 10.12% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,228.78 3,563.62 100.00

4,291.06 3,563.62 100.00

19.74% 6.26% 6.19%

FSDH Dollar Fund 1.10 1.10 3.85% 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 4.30% Vantage Balanced Fund 3.07 3.11 13.66% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 140.68 140.68 2.66% Vantage Equity Income Fund (VEIF) - June Year End 1.34 1.37 12.17% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 4.13% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.20 102.20 7.61% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.05% 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 130.85 134.11 9.68% 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 3,730.46 3,772.99 -1.12% Stanbic IBTC Bond Fund 239.12 239.12 0.11% Stanbic IBTC Ethical Fund 1.49 1.51 -0.66% Stanbic IBTC Guaranteed Investment Fund 320.79 320.80 0.15% Stanbic IBTC Iman Fund 275.26 279.02 -0.47% Stanbic IBTC Money Market Fund 1.00 1.00 3.67% Stanbic IBTC Nigerian Equity Fund 12,459.12 12,630.60 -1.53% Stanbic IBTC Dollar Fund (USD) 1.32 1.32 0.14% Stanbic IBTC Shariah Fixed Income Fund 118.59 118.59 0.09% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 109.67 109.67 0.19% 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 1.07 1.09 15.04% United Capital Balanced Fund 1.51 1.53 10.58% United Capital Wealth for Women Fund 1.22 1.24 12.10% United Capital Sukuk Fund 1.11 1.11 3.22% United Capital Fixed Income Fund 2.01 2.01 2.90% United Capital Eurobond Fund 125.31 125.31 2.43% United Capital Money Market Fund 1.00 1.00 6.60% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 14.08 14.21 6.77% Zenith ESG Impact Fund 16.26 16.44 11.31% Zenith Income Fund 22.67 22.67 3.28% Zenith Money Market Fund 1.00 1.00 5.28% 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 4.10 4.20 2.22% Vetiva Consumer Goods Exchange Traded Fund 6.42 6.52 9.76% Vetiva Grifﬁn 30 Exchange Traded Fund 19.59 19.79 10.73% Vetiva Money Market Fund 1.00 1.00 5.45% Vetiva Industrial Goods Exchange Traded Fund 21.89 22.09 9.50% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 152.93 154.93 -3.04%

REITS NAV Per Share

Yield / T-Rtn

116.80 51.75

3.19% 1.76%

Bid Price

Offer Price

Yield / T-Rtn

15.42 147.86 117.38 17.10 16.40

15.52 151.44 119.90 17.20 16.50

10.20% -2.11% -1.26% 24.07% 11.73%

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.

MONDAY JUNE 13, 2022 • T H I S D AY

T H I S D AY • MONDAY, JUNE 13, 2022

NEWSXTRA

BUHARI RECEIVES LAWAN… President Muhammadu Buhari receives the President of the Senate, Dr Ahmad Lawan at the Presidential Villa.... yesterday

Terror Attacks Won't Stop Christians from Worshipping God, Says Kaigama Declares corruption tainted Democracy Day Onyebuchi Ezigbo in Abuja The Catholic Archbishop of the Abuja Metropolitan Archdiocese, Most Rev. Ignatius Kaigama, yesterday said no amount of threats or attacks on the church would stop Christians in the country from worshipping God. Speaking on the commemoration of June 12 Democracy Day, Kaigama said the celebration would have been a very joyful one but for the unabating corruption in the electoral process. Against the background of the recent unprovoked attack and killings of worshippers at St. Francis Xavier Catholic Church, Owo Local Government Area of Ondo State, Kaigama urged Christians to remain steadfast in faith, worshipping God and in speaking the truth. The Archbishop spoke while delivering his homily to parishioners of St. Augustine’s Parish, Dutse-Sangbagyi, in Bwari Area Council of the Federal Capital Territory (FCT), Abuja. Kaigama said it was common knowledge that some other prominent religious leaders and

other Nigerians had suffered similar fate, yet, very little had been done to identify the culprits or to take solid proactive measures to stop the next attack. "Following last Sunday’s unprovoked attack and killings of worshippers at St. Francis Xavier Catholic Church, Owo Local Government Area of Ondo State, one is tempted to ask if the motive was a deliberate attempt to scare us away from worshipping God our way. "If that was the aim, my beloved parishioners, I am here to encourage you to remain steadfast in faith and to continue to gather like this in worship irrespective of the series of unprovoked attacks and killings we have suffered over the years. "If these persistent attacks on the catholic church by those who kill and believe they are offering an excellent service to God are meant to scare us not to worship again or to speak out in favour of justice, it should be clear that nothing will stop us worshipping God and speaking the truth," he said. The Archbishop recounted that

on the 11th of March, 2012, 14 people were killed in a bomb attack on Finbarr’s Catholic Church, Rayfield, Jos, Plateau State. He also recollected the Christmas-day suicide bombattack in 2011, on St. Theresa's Catholic Church, Madalla, Niger State followed, which led to the killing of 39 parishioners. He also said on September 23, 2012, a suicide-bomber drove a car into the Church gate of St. John’s Catholic Cathedral, Bauchi, Bauchi State, killing four worshippers and injuring over 40. Similarly, Kaigama pointed out that on April 24th, 2018, two catholic priests and 17 parishioners were killed at St. Ignatius' Catholic Church during the Holy Mass in UkporMbalom Parish, Gwer East Local Government Area of Benue State. According to Kaigama several priests have been kidnapped, some killed and some still in captivity, including Rev. Sisters, seminarians, catechists and lay faithful. He said there had been several efforts and initiatives deliberately to foster interreligious harmony. He said the church has established specialised universities

in Islam and Arabic studies deliberately to foster interreligious harmony, with the Pope in the forefront. "Many wonder why the concentration of attacks on the catholic church, knowing that the catholic church is in the forefront of interreligious dialogue, and is famous for its social services, educational and medical work. "It is well known too that the Catholic Secretariat of Nigeria, the organ of administration of the Catholic Bishops Conference of Nigeria has structures such as Justice, Development and Peace departments, concerned with social justice issues, democracy and credible elections. "The interreligious department engages Muslims and followers of the African Traditional Religions in dialogue. Many of our priests have studied African Traditional Religion and Islam," he said. Kaigama lamented the inability of relevant government authorities to unmask the unknown gunmen who have earned the diabolic distinction of murdering innocent people without qualms, adding that the fact that God has not

Bandits Abduct 30 Passengers Along Sokoto–Gusau Road 11 killed by suspected herdsmen in Benue Onuminya Innocent In Sokoto No fewer than 50 persons were on Saturday abducted by terrorists along Sokoto - Gusau road. However, while 20 persons out of those abducted escaped into the bush with different degree of injuries, the terrorists succeeded in taking away 30 persons who are currently in captivity. According to one Ibrahim Shehu who escaped during the incident, the abductees were wedding guest coming from Tambuwal local government of Sokoto State. He explained that the terrorists intercepted the coaster bus and other vehicles conveying the people at Dogon Awo in Tureta local government area of Sokoto State. He stated that the wedding guests abducted were indigenes of Zamfara state. According to him, after intercepting the vehicles, the terrorists started shooting sporadically to see whether there

would be response from security agencies, but there was none before they went away with the victims. Meanwhile, the Coalition of Communication, Zamfara state chapter has given Zamfara State Government 48- hours to rescue those abducted. The Union of Communication Zamfara State chapter gave ultimatum while briefing journalists in Gusau over the incident that happened to their members at Tureta, when they were returning from Sokoto to Gusau after a wedding fatiha of one of their colleagues in Sokoto State. According to the Secretary of the Union, Ashiru Shuiabu the incident occurred when their bus developed a fault around Tureta in Sokoto State, they got a mechanic to fix the vehicle which they spent about 40 minutes before the vehicle was fixed. He also explained that they had started moving when the suspected

terrorists launched an attack on the bus between Tureta and Bakura area, abducted over 50 persons, while “20 persons escaped into the bush with different degree of injuries while the terrorists succeeded in taking away 30 persons who are currently in captivity.” Shuiabu told journalists that the suspected terrorists made contact with them yesterday, using the mobile phones of five of their victims to reach out to them, that their members were in their hands. However did not demand for any ransom yet. The Union wants the Zamfara State Government to immediately dialogue with the terrorists or direct the security agencies to ensure the safe release of 30 of their members who are in the terrorists' enclave. The 30 Persons abducted last Saturday about 6pm local time along Sokoto-Gusau road were mostly youths from Zamfara State.

Efforts to get the Sokoto State Police command to confirm the incident were not successful as the Police Public Relations Officer Deputy superintendent of police (DSP) Sanusi Abubakar did not respond to calls or text messages sent to him. Meanwhile, suspected herdsmen yesterday killed eleven residents of Igama communty in Okpokwu local government area of Benue State. Local residents disclosed that the attackers levelled the whole community as there was no building standing after their operation. The people killed, according to eyewitness were all youths while the suspected herders left the children and women to escape unhurt. “The attackers are Fulani herdsmen they stormed the community in a commando manner between 4am and 6am this morning (Sunday).

punished them instantly does not mean he does not know who they are or where they are. He also said the fact that Christians had refused to retaliate does not mean that they were cowards or "don’t know how to use destructive weapons; but because we see the evil attackers as children of God in need of salvation." "It is not conceivable that without provocation, defenseless people worshipping their God on a Pentecost Sunday, not wielding guns other than the weapon of prayer could be gunned down.

"It is more disheartening that there are no immediate verifiable security evidence of who the attackers are and this continues to happen, with increasing frequency to the extent that people are no longer able to feel safe in places of worship, at home, on the streets, in the farms, at markets and schools; yet, all that our leaders care about now is guaranteeing their political future, and oblivious of the rude happenings, they go on to spend incredible amounts in both local and foreign currencies to get elected," he said

UK University Appoints Ekweremadu Visiting Professor Deji Elumoye in Abuja A former Deputy President of the Senate, Senator Ike Ekweremadu, has been appointed a Visiting Professor of Corporate Governance and International Linkages by the University of Lincoln in the United Kingdom. The ranking Senator's appointment was conveyed in a letter dated May 26, 2022 and signed by the Deputy Vice Chancellor of the university, Professor Andrew Hunter. The appointment letter was presented to the Chairman of the Senate Committee on Environment in Abuja on Sunday by the Head of International, Lincoln Business School, Professor David Rugara, on behalf of the Pro-Vice Chancellor of the School, Dr. Craig Marsh. The letter by Prof. Hunter read in part: “I am delighted to inform you, on the recommendation of the Lincoln International Business School, that the Professorial Committee has agreed to confer on you the title of Visiting Professor of Corporate Governance and International Linkages from May 2022 to May 2025. “A Visiting Professorship is one which is awarded to distinguished individual of recognised academic and/or professional standing, whose association with a department of the university will support its academic endeavor and provide the highest source of advice and wise counsel in that discipline. “I would like to take this opportunity to welcome you to

our academic community and thank you for your willingness to be associated with the University of Lincoln”. Speaking after receiving the appointment letter, Ekweremadu said he was proud to be associated with the academic pedigree and core concept of the University of Lincoln and pledged to go to work in earnest. According to him: “A call to render any service in the educational sector is a call to serve humanity and I am always highly appreciative of it. “I do hope that this is just the beginning of our relationship; and I equally hope that more opportunities will come for more Nigerians to play role in increasing the academic activities of the university in Nigeria and beyond”. Ekweremadu had earlier in 2018 been appointed a Professor and Mentoring Scholar of E-Governance and Strategic Government Studies by the Southern University, Baton Rouge, Louisiana, USA. A fifth-term senator, former three-term Deputy President of the Nigerian Senate, and former Speaker of the Parliament of the Economic Community of West African States, ECOWAS Parliament, Ekweremadu holds a doctorate degree in Constitutional Law. He taught Constitutional Law and Labour Law at his al mater, the University of Nigeria, Nsukka, from 1991 until 1997 when he joined active politics and was elected the pioneer Chairman of Aninri Local Government Area.

T H I S D AY • MONDAY, JUNE 13, 2022

NEWSXTRA

LINCOLN UNIVERSITY'S VISITING PROF. EKWEREMADU... Former Deputy President of the Senate, Senator Ike Ekweremadu (Right), receiving letter of appointment as a Visiting Professor of Corporate Governance and International Linkages, University of Lincoln, UK, from Head of International, Lincoln Business School from Prof. David Rugara (left) in Abuja…yesterday

2023: Muslim Running Mates will Set Nigeria on Fire, CAN, Bishop Warn Osinbajo: We are a nation in hands of God Olawale Ajimotokan in Abuja and David-Chyddy Eleke in Awka Ahead of the 2023 general elections, the Christian Association of Nigeria (CAN) has warned political actors of the consequences of a MuslimMuslim ticket being speculated by some of the major political parties. President of CAN, Rev. Dr. Samson Supo Ayokunle described such arrangement as a ticking time bomb that will set the country on fire. Similarly, the presiding Bishop and General Superintendent of Grace of God Mission International, Bishop Paul Nwachukwu has stressed that Nigeria is a secular state, adding that a MuslimMuslim running mates for the 2023 presidential election would be unacceptable to Christians. Ayokunle issued the warning yesterday at the Interdenominational church service marking the 2022 Democracy Day at the National Christian Centre, Abuja, where he was the guest speaker. His speech was delivered by the founder of the Sword of the Spirit Ministries International, Bishop Francis Wale Oke. Ayokunle, who lamented that the Church was being persecuted, described the speculated Muslim– Muslim ticket as an existential treat for Nigerian Christians who he said would be reduced to second class citizens in their country. He vowed Nigerian Christians would resist such arrangement if it is eventually adopted by any of the political parties for the Presidential election. “A Muslim-Muslim arrangement is a potential time bomb that can set this country on fire. Every part of the country has capable people that lead and occupy high political offices. Let it not be that Christians are going to be relegated to second class citizens in Nigeria. “Those seeking to lead us in 2023 should address this issue. A Muslim-Muslim ticket is at the heart of our existence as a nation. In fact, it is an existential threat that can blow our country apart. It is an invitation to chaos and it will not fly because it will set the country

on fire. Please don’t alienate the Church,” Ayokunle warned. He also said Nigerian Christians disagreed with the notion that the Church was not under any persecution in spite of the recent terrorist attack on St Francis Xavier Catholic Church, Owo, Ondo State, that left many worshippers dead and several others injured. He said the country was on a precipice and in urgent need of courageous leadership that can avert inequalities facing it and take decisions that will galvanise it into a nation all Nigerians are proud of. He urged political aspirants in the 2023 elections to address the concerns about the hardships in the polity. “The youths are despondent and looking for the slightest opportunity to leave the country, the education is in shambles; schools closed for months –this needs to be addressed decisively. “Our health system is not for the people as doctors are migrating to other lands, vagabonds are filing in the gap and our people are feeling the brunt. The national debt is climbing on daily basis. And the Bible is very clear on this that the rich rules over the poor and the borrower is a servant to the lender. Our nation collectively is becoming servant to the people that are giving us money or we are borrowing from. “Our debt now is in trillions of dollars. This needs to be addressed decisively by our leaders. Come to talk of insecurity. It is an inferno engulfing the whole nation. Every part of the nation is without effective response to stop it. We look around and we see so much of insecurity and this is escalating and Nigerians are restless and we are calling on our leaders to do something very decisive. “I think we are tired of feeble responses and condolence that is dished out when mass killing and mindless kidnappings take place. We want something to be done. These are issues that call for decisive leadership to take decisions that are fair and just,” he said. He lamented the fate of Leah

Sharibu, abducted since 2018, for refusing to renounce her faith as well as the killing of Deborah Yakubu by a mob in Sokoto for committing an alleged blasphemy, saying the latter should not be happening to any Nigerian in the 21 st century. Meanwhile, the Vice President, Prof Yemi Osinbajo in his remarks during the church service said Nigeria was in hands of God. He assured the people that no matter how challenging the situation or moment might be, there is always enough God given strength within the people to surmount them. His address was read by the Secretary to the Government of the Federation, Mr. Boss Mustapha. He said Nigerians have always risen to the occasion even when they subjugated and lorded over by colonial powers over their resources. “We rose to the occasion, following the ravages of a civil war, to rebuild a united country, no matter how imperfect, we rose to the occasion, when you are a military dictatorships push us to the Age of Extinction and negotiated our way into a democratic democracy that provides a platform for us to build a country we can all be proud of. And we have come this far because of all of us, from the north, to the south,” Osinbajo said. Quoting several Biblical verses, said the democracy day set aside to commemorate Nigeria’s transition from military rule to democratic governance provides an opportunity to reflect on how far Nigerians have come as a people.

Muslim-Muslim Tickets Unacceptable to Christians, Bishop Warns PDP, APC In a related development, Nwachukwu stressed that a Muslim-Muslim running mates for the 2023 presidential election would be unacceptable to Christians. Nwachukwu admonished the two leading political parties that had chosen Muslims as their

standard bearers to remember that choosing Muslims as their running mates would amount to neglect of Christians. Delivering his sermon yesterday titled: 'The battle I will like to lose,' he said: "I want the political class to bear in mind that Nigeria is a secular nation, and that in choosing their running mates, another Muslim would not be tolerated. "Nigeria belongs to all of us, and every part of the country and religion is important. Choosing Muslims as their running mates will amount to neglecting

Christians," Nwachukwu said. While the Peoples Democratic Party (PDP) recently chose Alhaji Atiku Abubakar, a northern Muslim as presidential candidate, the ruling All Progressives Congress (APC) settled for a southern Muslim, Asiwaju Bola Tinubu. The Bishop charged Christians all over the country to ensure they have their PVCs, saying this is not the time not to be interested about whether to participate in electoral processes or not. He told his congregation that their only chance of participating in choosing a leader for the country

was by participating in the ongoing voter registration exercise. He also called on INEC to make the process seamless for the people, noting that the electorates were now aware and ready to participate in the processes that would lead to the enthronement of a new leader in 2023. The Bishop blamed the resurgence of idolatry on recent barbaric killings in the country, especially the attack in Owo, Ondo State, saying it was targeted at Christianity as a religion, while urging to rise up and fight their battle spiritually.

Bakare: I Confidently Wear My Zero Vote as Badge of Honour Believes a new Nigeria still possible despite outcome of APC primary Says Tinubu’s victory a testament to his significant contributions Serving Overseer of the Citadel Global Community, Pastor Tunde Bakare, yesterday, said because the means has always been as important as the end for him, was the reason he confidently wore his “zero votes as a badge of zero tolerance for a certain kind of politics.” Bakare, who, for the first time shed light on the outcome of last week’s presidential nomination convention of the All Progressives Congress (APC) in Abuja, and concluded that regardless of whatever happened, a new Nigeria was possible, also congratulated the winner, Asiwaju Bola Tinubu, saying his victory was an evidence of his contributions to the politics of Southwest and beyond. The man of God noted that, since the conclusion of the APC primaries, he had received an almost endless stream of visitors and shared various impressions, but “I have not made any official public statements until today. As the main constituency and core group I am accountable to, I deem it appropriate to share a few thoughts with you first.” According to him, “In the course

of my lifelong commitment to serving my nation, Nigeria, I have found these words telling. Yet, I remain convinced now more than ever that the quest to serve our beloved nation, Nigeria, has been a worthy adventure for a worthy cause. As a presidential aspirant in the Special Convention of the All Progressives Congress (APC), it has been a great honour to be the standard-bearer of the message of a New Nigeria; a Nigeria that works for every Nigerian. “I congratulate the winner of the APC presidential primaries, Asiwaju Bola Ahmed Tinubu, for his victory. His emergence as the flagbearer and presidential candidate of the APC is a testament to his significant contributions to the cause of the South West as well as his labour towards the formation and establishment of the APC as I have said in times past. I, therefore, extend best wishes to him as he proceeds on the campaign trail towards the 2023 general elections. “To my supporters across the nation and in the diaspora, I thank you for your unalloyed support despite the challenges leading

up to the primaries. Our heads remain unbowed,because we did not compromise on the values that are integral to building a New Nigeria. For us, the means has always been as important as the end. This is why we confidently wear our ‘zero votes’ as a badge of ‘zero tolerance for a certain kind of politics.’ “It is to Almighty God I will ultimately give account, and it is in Him I will continually trust despite what may today appear to be a setback. There is still a cause and there is still a nation to transform. This is not the work of just one man or woman or just one party, but the calling upon every Nigerian worthy of the name. “In the words of Martin Luther King, Jr., it is my earnest prayer that the good Lord will bless Nigeria with ‘leaders not in love with money but in love with justice. Not in love with publicity but in love with humanity. Leaders who can subject their particular egos to the pressing urgencies of the great cause of freedom.’ May we all find it within ourselves to become these leaders no matter the temptation to be less than.”

T H I S D AY • MONDAY, JUNE 13, 2022

NEWSXTRA

FINAL FAREWELL TO MRS. ODUYEMI... L-R: Daughter of the deceased, Mrs. Abiola Ayeni: her husband, Dr. Olatunde Ayeni; Ogun State Governor, Chief Dapo Abiodun; and husband of the deceased, Chief Michael Adewale Oduyemi, during ABAYOMI AKINYELE the funeral Service for Chief Mrs. Fadeke Amope Oduyemi at the ECWA Family Church, Ikoyi at the weekend

INEC Rejects Akpabio, Recognises Ekpoudom as APC Akwa Ibom North West Senatorial Candidate Okon Bassey in Uyo The Independent National Electoral Commission (INEC) has rejected the primaries which produced Senator Godswill Akpabio as the All Progressives Congress (APC) candidate in Akwa Ibom North West senatorial district. DIG Udom Udo Ekpoudom (Rtd) and the immediate past Ministry of Niger Affairs, Akpabio had been laying claim to the Senatorial ticket of the party. While Ekpoudom said he duly participated in the Akwa Ibom North West APC Senatorial District Primary Election held on May 27, 2022, in line with the 2023 Election Timetable and Guideline of our party, Akpabio was said to have emerged winner in the rescheduled primary for the senatorial district held last Thursday. The State APC Chairman, Mr. Stephen Ntukekpo, had said he was directed by the party at the national level to carry out a re-run

over alleged infractions in which Akapbio had emerged winner with 478 votes, while Ekpoudom got just three votes. However, the Resident Electoral Commissioner, Akwa Ibom State, Mr. Mike Igini, said INEC would only recognise the winner of the primaries it monitored, denying claim that INEC monitored the re-run APC senatorial primaries that produced Akpabio. He added: “The primaries was concluded on the 27th of last month. The one that was conducted was monitored by INEC and the report has been submitted to Abuja. INEC is not aware of any senatorial primaries conducted on Thursday (June 9) that was monitored by INEC.” Igini reiterated that APC has no governorship candidate in the state, saying the governorship primary that produced Akanimo Udofia was not monitored by INEC. Meanwhile, the 2023 DIG

World Day Against Child Labour: Obaseki Harps on Sustainable Investments in Social Systems The Edo State Governor, Mr. Godwin Obaseki, has said the state government’s investments in education and the enforcement of the Child Rights Law will ensure the protection of children from abuses, especially child labour. The governor said this in commemoration of the 2022 World Day Against Child Labour, marked every June 12, by the International Labour Organisation (ILO), and observed across the globe. He said, “In commemoration of the World Day Against Child Labour, we will continue to commit ourselves to the protection and welfare of our children, through programmes and policies that bequeath them with basic social and technical skills required to actualize their dreams. “As a government, we will continue to invest in education which is critical to the development of a child. We are transforming our school system, offering every Edo child the requisite knowledge and skills to compete with their peers in a technology-driven 21st century. “We have expanded the Edo Basic Education Sector Transformation (Edo-BEST) programme to give more children

the opportunity to get quality basic education. Our commitment to technical and vocational education will ensure the construction of 20 more technical colleges that will allow children to acquire technical skills as part of our drive to promote industrialisation.” Obaseki said the state government will not fail to prosecute parents and guardians of out-of-school children, as it will deploy necessary steps to take all children off the streets and improve access to education. He noted, “The implementation of the Violence Against Persons (VAP) law also protects our children from all forms of abuse which include the use of children for cheap labour.” According to the United Nations, “the 2022 theme of the World Day Against Child Labour calls for increased investment in social protection systems and schemes to establish solid social protection floors and protect children from child labour. While significant progress has been made in reducing child labour over the last two decades, progress has slowed over time, and it has even stalled during the period 2016-2020.”

Udom Udo Ekpoudom (Rtd) Senatorial Campaign Organisation in a statement at the weekend described as ridiculous and highly provocative conspiracy with respect to the APC Akwa Ibom North West Senatorial District Senate primary election it stated was allegedly won by Ekpoudom. The campaign organisation noted that the primary election was properly monitored by INEC as constitutionally required, and “Udom Ekpoudom, was victorious and declared the winner and the

party's flagbearer.” The statement signed by the Director General, Hon. Uwen Udom, Secretary General, Obong Godwin Etokakpan and Director, Media and Publicity, Peter Udiong noted that at no time did the party, "put our candidate, on notice of any cancellation of the Primary Election or that of conducting another Senatorial primary for the Akwa Ibom North West Senatorial seat. "We want to put it on record that the mandate given to Udom Ekpoudom by the good people of

Akwa Ibom North West Senatorial District remains sacrosanct and is judiciously guarded and protected. "We hereby assure our party men and women and the good people of the Senatorial district that DIG Udom Udo Ekpoudom (Rtd) will under no circumstance, relinquish, withdraw or be substituted no matter the degree of pressure and inducement dangled by anyone. "He believes in the mandate, and in the mandate, he shall stand to provide leadership and accelerate development for the

senatorial district. "Most importantly, the purported "scam election' held on Thursday, 8th June, 2022 at the Skills Acquisition Centre in Ikot Ekpene is nothing but illegal, deceitful, unconstitutional, and legally defective. "We hereby appeal to our supporters to remain calm and steadfast as the standard bearer is prepared to defend his mandate freely given to him by the good people of Akwa Ibom North West Senatorial District.", the statement added.

AGF Takes over Alleged Forgery Case against Anambra Varsity Professor, Four Others Alex Enumah in Abuja The Attorney-General of the Federation (AGF), Abubakar Malami has taken over the prosecution of Prof. Obiajulu Obikeze and four others standing trial on alleged forgery of chieftaincy documents. The five defendants before now were been prosecuted by the Police before Justice Inyang Ekwo of the Federal High Court, Abuja. However, when the matter came up for hearing last Friday, Mr. Joe Agi, SAN, who announced appearance for the prosecution, told Justice Ekwo that he had been authorised by the AGF to take over the matter. “In the circumstances, I will be

taking over from the police and asking for an adjourned date,” he said. Responding, Mr. Kelvin Nwufo, SAN, representing the defendants, said though he had heard the information earlier, he would have loved to move his motion before adjournment. On his part, Police counsel, Mr. Celestine Odo, said he was just told in the morning by the senior lawyer representing the AGF, adding that they will arrange to go back and do the handing over. Since there were no objections, the judge subsequently adjourned the matter until July 20 for the AGF to review the case and report back to the court. While noting that the trial

which commenced on May 23, had suffered a setback, Nwufo, said though he was ready for the trial, the prosecution was yet to respond to his motion filed, seeking for an order dismissing the charge, for which the court had fixed on June 10 for hearing. Other defendants in the suit included Dr. Raymond Ofor, Chief Ezue, Sir Amobi Nwafor and Okafor Bethram as 2nd to 4th defendants respectively. Obikeze, who works with the Chukwuemeka Odumegwu Ojukwu University, formerly known as Anambra State University, Igbariam in Anambra, was arraigned on February 22 alongside others on 11 counts charge. In the charge marked: FHC/

ABJ/CR/184/2021 dated and filed on July 6, 2021, the defendants were alleged to have committed the offence around Jan.15, 2019, at Awa, Orumba North Local Government Area of Anambra. In count one, the five defendants, and others now at large, were alleged to have conspired to commit forgery, an offence contrary to Section 3(6) and punishable under Section 1(2) (c) of the Miscellaneous Offences Act, Cap M17 Laws of Nigeria, 2010. While count two accused them of uttering forged documents, count three accused them of making, “a forged letter to the Special Adviser to the Governor of Anambra State on Chieftaincy and Towns Union Matters.”

Tinubu Campaign Organisation Disowns Viral Unofficial Manifesto Adedayo Akinwale in Abuja

The Tinubu Campaign Organisation (TCO) has said the manifesto of the All Progressives Congress Presidential (APC) candidate, Senator Bola Tinubu, being circulated on social media was not the official campaign manifesto of the presidential candidate. In a statement issued yesterday by the Director of Media and Communication, TCO, Mr. Bayo Onanuga, it noted that it was merely a draft proposal and suggestions on the programme he should implement, when elected

in February 2023. He said Tinubu, in consultation with the party, experts in various fields and a broad section of the populace, through empirical and evidence-based approach, was working on an all-embracing manifesto that would be presented to Nigerians before the official campaign begins in September. While acknowledging that the manifesto in circulation was prepared by some senior associates of the APC presidential candidate, Onanuga said the document was a private initiative, which Tinubu had not personally endorsed and

accepted. He said: "I want to place it on record that the manifesto being circulated via social media platforms and already published by a section of the mainstream media is not the official Manifesto of Asiwaju Bola Tinubu and All Progressives Congress for 2023 general election. “While our presidential candidate appreciates the spirit and efforts of his associates that produced the document being passed around mostly on WhatsApp, we want to clearly state that the document is an unofficial document and Tinubu cannot be held accountable on any

of the issues raised in the document. “The presidential candidate and APC are currently working on an all-embracing manifesto that will inspire the confidence of Nigerians. When the official policy document of Tinubu is ready it will be formally presented to Nigerians and our candidate will be in a position to defend every word that will be contained therein. “We appreciate the interest and enthusiasm of Nigerians to know about the programmes and policy options Asiwaju Tinubu will pursue in government when elected."

MONDAY JUNE 13, 2022 ˾ T H I S D AY

NEWS

Irabor: Security Forces Foiled Plot by Terrorists to Attack Abuja, Kano Kingsley Nwezeh in Abuja

The Chief of Defence Staff, Gen Lucky Irabor, has said security forces averted a plot by terrorists to attack Abuja and Kano. He said the planned attack in Kano would have been “the most catastrophic incident” in the country. The revelation came just as former Chief of Army Staff, Lt. Gen Tukur Buratai (rtd), advocated a combination of kinetic and non-kinetic measures as a way of tackling the challenge of insecurity in the country. He also proferred local manufacture of military equipment as a panacea to raging criminalities in the country. Irabor, who spoke during an interview with Channels TV, said the catastrophe was averted in Kano state the same week gunmen opened fire on worshippers at the St Francis Catholic Church of Xavier in Owo, Ondo State. According to Irabor, the security situation in Nigeria has improved in the last one year, adding that the incident in Owo did not take away that fact. “Perhaps, you may not know that just only the same week of

the Owo incident, in Kano, for example, given the intelligence available to security agencies, we were able to botch what would have been the most catastrophic incident within our country,” he said. Recounting how the process went, he explained that “in that operation, we recovered Improvised Explosive Devices (IEDs) making materials. “We recovered a large quantum of arms and ammunition and other materials which, of course, the criminals were intending to use in various parts of the country, including Abuja. That the Owo incident happened does not imply that improvements have not happened. “Let me state that this is a process, and if you could take a look at the war stage in countries around the world, you will find incidents of violence and criminality in one way or the other.” On the claim by the federal government that ISWAP was responsible for the Owo attack of worshippers, he said the attack was one of the similar crimes perpetrated by terrorists whom he said would be wiped out of

the country. He stressed that the security forces lived up to their responsibility in securing the nation, although they were

working towards ensuring a crime-free society. The defence chief solicited the support of Nigerians and relevant stakeholders in tackling insecurity

and urged them to focus on things that matter. “I will say that a lot has happened. There has been quite a lot of improvement in terms

of the armed forces and other security agencies doing all that is necessary to bring peace to the various troubled regions of the country.

ON INVESTMENT DRIVE…

L-R: Andrew JR Onespot Xakiji Sidodi of Tsuut’ina Nation, Calgary; Olu of Warri, Ogiame Atuwatse III, and his wife, Olori Atuwatse III, during the Olu’s visit on investment drive to Canada...recently

Abe: Tinubu is Next Progressives PDP House Caucus to Endorse President of Nigeria Wike as Atiku’s Running Mate Blessing Ibunge in Port Harcourt

Former representative of Rivers South-east Senatorial District at the National Assembly, Senator Magnus Abe, has expressed confidence that the candidate of the All Progressives Congress (APC), Ahmed Bola Tinubu will be the president of Nigeria come 2023. Senator Abe assured all that the former Governor of Lagos State, Tinubu has all the needed criteria to lead the country successfully, stressing that the APC presidential candidate has impacted so much in many lives,

including to nation building which he said have paved way for him. Abe stated this yesterday, during a thank- ou visit to supporters at Bera, Gokana Local Government Area of Rivers State. He recalled how he predicted the victory of Tinubu, saying that what the country needs now is a leader that will help the nation in peace and development and not those interested in looting government assets. “First, I want to congratulate the candidate of the APC, Asiwaju Ahmed Bola Tinubu. I told you people from the beginning that Asiwaju will be the candidate of our party.

Burna Boy’s Police Escorts Shoot Two, Artiste Absconds to Spain

Rebecca Ejifoma

Police escorts attached to Nigerian Grammy Award winner, Damini Ogulu popularly known as Burna Boy, have shot at two men after one of them complained that the singer made passes at his wife at Club Cubana in Victoria Island, Lagos State. The victims were identified as 27-year-old lrebami Lawrence and Tolu. Meanwhile, the five policemen attached to the singer have been detained at the State Police Command for attempted murder.

Trouble was said to have started when Burna Boy and his escorts visited the nightclub around 4am on Wednesday, June 8. While four policemen waited outside, one of them, identified as Inspector Ibrahim on mufti, accompanied the artiste into the club. Reports have it that the singer was in the VIP section with three women when he spotted another. He was also said to have instructed Ibrahim to invite the woman to join him.

Atiku is Strongest, Most Progressive Candidate, Says Group Ahead of the February 2023 presidential election, a grassroots political advocacy group, People For Atiku (PFA) has justified its support former Vice President and the Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar. PFA said yesterday in a statement that they are endorsing and supporting Atiku Abubakar for President of the Federal Republic of Nigeria in the 2023 elections because he is the strongest and most progressive force among the candidates. The statement signed by the PFA’s Executive Director, Barrister

Ozi Nwadike, called on all Nigerian progressives to “be wise as a fox,” adding that Atiku must be the first choice if Nigerians “must take back our country.” Citing the fundamental objectives and directive principles of state policy contained in Chapter II of the Nigerian Constitution which specified that sovereignty belongs to the Nigerian people, every citizen shall have equality of rights, obligations and opportunities before the law, media freedom and others, PFA stated it inspired the struggle to end injustice, tribalism and religious intolerance in Nigeria.

Chuks Okocha in Abuja

As the search for the running mate to the Presidential candidate of the Peoples Democratic Party (PDP) , Alhaji Abubakar Atiku, continues, the Caucus of the Progressives in the House of Representatives is to meet in Abuja today to endorse the candidature of the River State Governor, Nyesom Wike for the position. The special committee set up by the PDP will unveil its

report Tuesday This was contained in a statement made available to news men in Abuja yesterday by the leader of the group, Hon Busayo Oluwole Oke, the member representing, Obokun/ Oriade Federal Constituency of Osun state under the platform of the PDP. According to Hon Oke, who is also the Chairman of the House of Representatives Committee on Public Accounts, the endearment is coming ahead

of the deadline given to a high powered committee already put in place by the leadership of the party on the selection of a suitable candidate for the position. He explained that the membership of the caucus comprising committed party faithful across the six geopolitical zones of the country in the Green Chamber resolved to endorse Governor Wike after in depth consideration of his immense contributions to the

growth of the party over the years and his capability of leading the party to total victory at the polls. “We, the progressives at the green chamber of the National Assembly under the umbrella of our great party, (PDP) are meeting on Monday(today) in Abuja to endorse the candidature of the River State Governor, His Excellency, Nyesom Wike as the vice presidential candidate of our party.

PDP Guber Candidate Calls for Fresh LG Election in Kwara

Hammed Shittu inIlorin

Governorship candidate of Peoples Democratic Party(PDP) in Kwara state in the next year general elections, Alhaji Shuaib Yahman Abdullahi, has appealed to the state governor, Alhaji AbdulRahman AbdulRazaq to obey Supreme Court’s ruling that void the continue using of Transitional Implementation Committee(TIC) in the 16 local government councils and conduct

fresh local government councils poll in the state. The apex court had about three months ago quashed the continue using of TIC in the 16 local government councils. The apex court also ruled that the continue using of TIC in the 16 local government councils in the state was illegal and hence called for the conduct of local government councils poll in the state so as to return democratic governance at the grassroots.

Since the ruling on the issue, the state governor, Alhaji AbdulRazaq is yet to implement the court ruling in the state. But, in a statement issued in Ilorin yesterday to mark the 2022 Democracy Day celebration, the PDP canddiate said that, “the return of democratic governance to the 16 local government councils will go a long way of stopping further pilfering of collective patrimony of the state.” The statement read: “Today

is another wonderful day when we remember the labour of our heroes past, their sacrifices for us to live a life of freedom and equal opportunities, and strive even for a better future. “As we remember their sacrifices, we should work in unison to fight corruption, lawlessness and executive rascality prevalent in our State of Harmony, Kwara State. It is our collective responsibility to make the state better and the future of children secured.

NIPOST, Partners Sign Agreements to Boost Postal Business The Nigerian Postal Services (NIPOST) has signed a fresh Memorandum of Understanding (MoU) over technology-based delivery and self-service systems. While the postal agency signed an agreement with e-Gate over last mile delivery services, it signed one with Access Solutions which now makes available self-service kiosks for daily need transactions and another one with Lleida.net

on Registered Communication System, respectively Speaking at the signing ceremony in Abuja, Postmaster General of the Federation and Chief Executive Officer, NIPOST, Dr. Ismail Adebayo Adewusi, said a strong technology system must be put in place as an efficient engine of digital economy growth. He said this is a fact which has been recognized by the

driver of the national digital economy policy and strategy of President Muhammadu Buhari’s administration, the Minister of Communications and Digital Economy, Prof. Isa Pantami. Explaining the essence of the new partnerships, Adewusi said the event was a step forward in NIPOST’s reengineering process toward enhanced corporate excellence.

“It is also a manifestation of success attained through a dedicated partnership between NIPOST and three partners; e-GATE Egypt on the digital transformation of its last-mile delivery value chain, Access Solution Ltd on the provision of self-service kiosks and the third company, Lleida.net on registered communication system respectively,” he said.

Osun 2022: I’ll Fulfil My Campaign Promises to Electorate, Says Oyetola The Governor of Osun State, Gboyega Oyetola, has that if re-elected in July 16 he will never betray his conscience in fulfilling his campaign promises to the people. Oyetola said the falsehood being peddled around by the opposition parties that he would not fulfill his campaign promises, when re-elected, should

be disregarded. The governor said this during an engagement programme with members of Osun State Automobile Technician Association yesterday in Osogbo. Represented by his Special Adviser on Civic Engagement, Mr. Olatunbosun Oyintiloye, Oyetola said his journey into politics was for service delivery and not for

personal gain or deception. The governor, who specifically assured civil servants and retirees in the state of his commitment to their welfare, urged them not to fall into the antics of the opposition parties. Oyetola said since beginning of his administration in the last three and half years, he had not renege in the payment of

pension and salaries of workers. He said the rumuor by the opposition parties that he would stop the payment, when re-elected is a dirty politics taken too far. The governor, who said he would still do more in his second term, urged the electorate not allow desperate politicians to deceive them.

MONDAY JUNE 13, 2022˾ T H I S D AY

NEWSXTRA

Ekiti 2022: Police, Army, NSCDC Take over Ado Ekiti over Killing of Driver Victor Ogunje in Ado-Ekiti

The combined force of the Nigerian Police, Nigerian Army, and Nigerian Security and Civil Defence Corps (NSCDC) yesterday took over some suspected flashpoints in Ado Ekiti, the capital city of Ekiti State, following the violent protest staged by driver unions over the killing of a member, Mr. Tope Ajayi.

Tension rose in the early hours of yesterday as the protest staged by driver unions and the All Progressives Congress (APC) members triggered by the fear of a possible reprisal on members of the Social Democratic Party (SDP). Ajayi, who was a member of the Road Transport Employer Association of Nigeria (RTEAN), was allegedly shot dead in ItajiEkiti by political thugs when the

Tinubu’s Victory Excites Edo APC Senatorial Candidate

Edo Central Senatorial Candidate on the platform of All Progressives Congress (APC), Monday Okpebholo, has expressed excitement over the victory of Asiwaju Bola Ahmed Tinubu who emerged the winner at the APC presidential primary held last week. He has therefore congratulated Tinubu, saying that his wealth of experience will certainly be critical in APC’s continued efforts to attain a more secure and prosperous Nigeria. Okpebholo said: “I congratulate Asiwaju Bola Ahmed Tinubu on his victory at our party primary and his emergence as the presidential candidate and standard-bearer of our great party, the APC for the forthcoming 2023 presidential elections. I also congratulate

President Muhammadu Buhari and all leaders of the APC for a successful special convention and presidential primary. For many decades, our standard-bearer has shown passion, patriotism, courage and determination in the cause of nation-building. His sterling contributions to our democracy and its progress stand him out. His wealth of experience will certainly be critical in our party’s continued efforts to attain a more secure and prosperous Nigeria,” he said. “To all members of our great party, regardless of who you voted for at the primaries, I urge us to now unite behind our presidential candidate and standard-bearer to ensure victory for our party in the 2023 elections.”

APC and SDP clashed in the town. The protest forced many people to cancel their churches and mosques services, as well as putting their residential buildings under lock and key to avoid being caught in the web, while the streets were deserted. The roads to major places

She was also nominated for the African CEO of the Year Award alongside Ade Ayeyemi (Ecobank Transnational Corporation), Adebola Williams (Red For Africa), and Jean-Luc Konan (Group COFINA) who emerged winner in that category. Sanni has prior to now been declared the All Africa Business Woman of the Year

Nigerian Army, Police and NSCDC swiftly mobilised to some flashpoints like Ijigbo, Atikankan, Basiri, Ajilosun and Ilawe road in the state capital with a view to avert looming reprisal. Besides patrolling the streets in Hilux trucks to restore calm and normalcy, three Armoured

Personnel Carriers (APCs) were stationed in various strategic locations in the state capital. Normalcy has gradually returned to various parts of the Ado as residents, motorcyclists and motorists carried on with various activities following this swift deployment of security forces.

Delta Community Raises the Alarm as Ocean Washes away Houses Sylvester Idowu in Warri The people of Ogulagha, a coastal community in Burutu Local Government Area of Delta State have raised the alarm over erosion of their area by ocean surge eroding their houses and cemeteries into the Forcados river. Ogulagha is a major host to the Forcados terminal and about 3.30 hours to Warri in Warri South Local Government area of the state.

Chairman of Ogulagha, John Bebapere raised the alarm in an interview with THISDAY recently during a one-day dialogue tagged “Fishnet Community Dialogue” organised by Health of Mother Earth Foundation (HOMEF) to mark this year’s United Nations World Oceans Day 2022, held in the community. He therefore, called on relevant government agencies and oil companies to come to their aid, saying erosion

has almost taken over their community. Bebapere requested for shoreline protection to protect the community from the surging erosion from the river. He said so far, they had lost uncountable houses and about 200 corpses to erosion sweeping through the community’s burial ground and appealed to relevant agencies to urgently intervene. The community leader also lamented the impact of

oil spill on their river, adding that the pollution had created huge economic problem for the predominantly fishing community. “The oil companies operating here are contributing largely to the pollution of our river. We suffer erosion problem here. Swift erosion is washing away our corpses. Our greatest fear now is that the erosion should also not start coming to sweep human beings into the sea,” he said.

NMA Worries over Non-release of Kidnapped Doctor in Abia Onyebuchi Ezigbo in Abuja The Nigerian Medical Association (NMA) has lamented the inability of the security agencies to rescue Dr. Uwadinachi Iweha, who was kidnapped in Abia state over week now. In a statement signed by its president, Dr. Uche R.

Toyin Sanni Wins Best Woman Leader in Africa Award in Paris The Group Chief Executive Officer and Executive ViceChair of the Emerging Africa Group, Toyin F. Sanni, was recently declared the ‘Best Woman Leader’ in Africa at the 5th Africa Investment Forum and Awards in Paris, France. The Africa Investments Forum and Awards (AIFA) has in the last five years brought together annually high-profile nominees of over 700 top-level public and private decision makers, CEOs, managing directors, investment directors, international directors, business experts, and institutional players globally. The awards winners are selected by independent jury panels made up of more than 80 sectors experts from numerous countries, with investment interests in Africa. For this year’s edition nominees for the awards in the Category Best Woman Leader in Africa, were Sanni (Emerging Africa Group) Déborah Diallo (Diallo Law Firm); Gwen Mwaba (Afreximbank); Lamia Merzouki (Casablanca Finance City); Laureen Kouassi-Olsson (Birimian Holding), Ola Brown (Flying Doctors Healthcare Investment Company) and Marie Alix De Putter (Bluemind Foundation) Special Mention. However, Sanni emerged the Gold Award Winner and was named Best Woman Leader in Africa.

like Ijigbo, Odo-Ado, Okeyinmi, Atikankan and Ajilosun areas were blocked by the protesters, who brandished dangerous weapons, which forced motorists and commercial motorcyclists to take a detour to escape the beleaguered scenes. Following the report, the

2017 at the AABLA Awards in Johannesburg, the Pearl CEO of the Year, 2017 in Nigeria, Tech Times Africa CEO Influencer 2020 and 2021 amongst other Awards. Emerging Africa is a Pan African Investment & Financial Services Group deepening access to finance through ESG focused Investment and financing solutions.

Ojinmah, NMA said it had followed keenly for a week the unfolding saga following the kidnap of the Iweha. It urged the security agencies to redouble their effort in securing the release of the doctor from captivity. NMA said the InspectorGeneral of Police should create a deliberate policy to prevent

the kidnap of doctors, other Health care workers and their families as a tool for reduction of the medical brain drain in Nigeria “We have noted the spirited efforts by our Abia State branch to secure his release which has, for now, yielded no fruit. The NMA condemn the kidnap of Dr. Iweha and calls

on the government of Abia State and security agencies to redouble their effort in securing the release of our distinguished medical elder. “We call on the kidnappers to search their conscience and see if it is right to keep in forced captivity an elder that has spent most of his life in the service of humanity.”

MONDAY, ͹ͻ˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

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

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Peseiro Warns Eagles to Underrate São Tomé & Principe at their Own Peril Wants all three points in the bag 'no matter how achieved' A F C O N 2 0 2 3 Q UA L I F I E R Femi Solaja Ahead of today’s clash with Sao Tome and Principe, Super Eagles Head Coach, Jose Peseiro, warned his players never to underrate the “Falcons & Patriots” in their second Group A fixture of the AFCON 2023 qualifier at the Adrar Stadium, Agadir, Morocco. The “hosts” were battered 5-1 by Guinea Bissau in their first game of the group while Super Eagles laboured to a 2-1 victory over Sierra Leone in a not too impressive encounter at the MKO Abiola Stadium in Abuja. But the Portuguese gaffer who is desirous of lifting the 2023 AFCON in just his first term with Nigeria insisted yesterday that Super Eagles must put in their best to pick all three points at stake. “Sao Tome have good players in their team. We saw their last game, even though they lost, they didn’t play too badly. We respect them. It’s good to respect your opponent in football,” Peseiro told a press conference in Morocco ahead of the match yesterday. “We need to be at our best to beat them. We have to show strong desire and determination,”

continued the former Venezuela coach recommended to Nigeria by Jose Mourinho. “We don’t think about 1-0, 2-0 or 5-0 we want to win, we want to score, we want to play well and we don’t want to concede a goal,” Peseiro further warned Eagles. The three-time African champions are going into the game without their deputy skipper William Troost-Ekong and midfielder Innocent Bonke who have returned to their respective bases in England and France respectively to attend to their injuries. Bonke was injured in the friendly against Mexico in Dallas on 28th May, while Ekong suffered a groin strain in the 2-1 defeat of Sierra Leone in Abuja on Thursday. Meanwhile, the Confederation of African Football (CAF), has appointed Liberian official Hassen Jinnah Corneh as referee for the encounter, with his compatriots Joel Wonka Doe, Ephraim Grant Whengar and Moses Forkpah as assistant referee 1, assistant referee 2 and fourth official respectively. Alim Konate Aboubakar from Cameroon will be match commissioner. The match starts at 1pm in Morocco (2pm in Nigeria).

StarTimes have promised their subscribers to air the AFCON 2023 Qualifier between the Super Eagles of Nigeria and São Tomé & Príncipe starting today at 2pm live and in HD on its World Football channel Nigeria’s Super Eagles kicked off their qualifying campaign on a winning note after coming from behind to defeat the Leone Stars of Sierra Leone 2-1 at the MKO Abiola Stadium on Thursday evening. However, São Tomé and Príncipe began their qualification campaign on an unimpressive manner, as they lost 5-1 to Guinea-Bissau. Even though it was a victory against Sierra Leone, Super Eagles team displayed a lacklustre performance. After the match. Super Eagles’ head coach, Jose Peseiro, said he would be happy to see his team not just winning matches but also playing well to

secure more victories. Ex-Nigeria midfielder Henry Nwosu has warned the Super Eagles against underrating Sao Tome & Principe in their next Group A 2023 Africa Cup of Nations qualifier scheduled for Monday. Meanwhile, Rangers midfielder Joe Aribo believes he and his teammates will improve after their 2-1 victory against Sierra Leone. "It's our first game with our coach, with all of us together, we are going to improve, and we are going to get better in the games to come. We can always improve, we are definitely going to get better and stronger in the games to come." Football lovers in Nigeria can look forward to this exciting showpiece on StarTimes. The match can also be viewed on the StarTimes-ON mobile app.

Super Eagles have been warned never to underrate São Tomé & Principe as they clash this afternoon in Morocco

Mikel Showers Prizes on Youngster ...Nigeria Vs Sao Tome at Back2Base Talent Hunt Programme Live on StarTimes Former Super Eagles Captain, John Mikel Obi, at the weekend showered prizes on outstanding athletes at the maiden edition of the Back2Base talent hunt programme which held at the UNILAG Sports complex, Lagos. Mikel who was present all through the three-day talent hunt programme also had the Sports Minister, Sunday Dare, in attendance in the final day on Saturday, said he was very impressed with the skills exhibited by the youngsters who participated across the three sports; Football, Basketball and Tennis. While the former Chelsea star promptly fulfilled his cash promises to the outstanding athletes across the three sports, he also promised to do his best to ensure they are given more platforms to actualise their dreams of becoming superstars in their chosen fields. “I am very happy with the suc-

22ND AFRICAN ATHLETICS CHAMPIONSHIPS

Enekwechi Wins Shot Put Gold Medal as Nigeria Maintain Third Spot Chukwuebuka Enekwechi successfully defended his Shot Put title in a record breaking fashion as the curtains were drawn yesterday on the 22nd edition of the African Athletics Championship in Mauritius. The 29-year-old threw 21.20m to erase the 21.08m championship record he set four years ago in Asaba, Delta state and has now become the first Nigerian to successfully defend a Shot Put title in the history of the championship. Enekwechi’s golden effort increased Nigeria’s medals to five gold while high jumper Mike Edwards won a silver medal and the 4x400m men and women’s relay teams got bronze to ensure an under strength Nigerian team finished third in the medal table for the third consecutive editions.

Meanwhile, Kenya ended top of the medals table for a second straight time as the African Athletics Championships came to a close in Mauritius on Sunday.

The Kenyans won their tenth gold medal, and 23rd in total, on Sunday to finish ahead of South Africa, who had one gold medal less but a superior 36 overall.

Enekwechi...retains African Athletics Championships shot put gold in Mauritius

John Mikel Obi (left) and Sports Minister, Sunday Dare, in a group photograph with some of the outstanding athletes at the Back2Base talent hunt programme in Lagos ...at the weekend cess of this first edition. For me, all the children that participated are winners because they are talented one way or the other and have shown they all have bright futures ahead of them. "I hope to see them get good clubs here in Nigeria and also abroad so they can continue to improve on their skills,” he noted further. Mikel who was last year appointed as Youth Ambassador by the Federal Government assured

young Nigerians that he plans to accommodate more youngsters in subsequent editions of his new project. Emma Jebutu and Toyin Asogba emerged as the most outstanding boy and girl in the tennis category while Mathew Abamu and Destiny Okhinye were the runners up in the Tennis event In the Basketball event, Ayomide Lasisi, Chika Okafor and Kunle Adesuyi were selected as the top three performers

On their part, the trio of Abebayo Mubarak, Monday Pius and Samuel Adefeso were the top three players selected from the football event. CEO and Founder of Avianna & Harvey Entertainments, Ahmed Fadekemi who nurtured the Back2Base talent hunt programme to fruition said that aside from the N6million shared across the outstanding athletes, the youngsters will also have a dinner date and mentorship session with Mikel.

Noel Okorougo, NFA’s NIKE Facilitator, Passes on Noel Chukwuemeka Okorougo, the marketer who helped the then Nigeria Football Association (NFA) broker the first NIKE contract in the early 1990s passed on last Wednesday, June 8 in Geneva, Switzerland. He succumbed to death from his long battle with cancer. Okorougo would have celebrated his 70th birthday on Christmas day if he had made it till December 2022. Okorougo’s long associate and now Saturday Vanguard

Editor, Onochie Anibeze broke the news of Okorougo’s death to THISDAY. “Duro, we have lost a good friend, Noel (Okorougo) is gone. He lost the battle with cancer. So sad,” mourned the veteran Vanguard editor yesterday. Noel’s bother, Ujunwa Okorougo described the late sports financier and marketer as “a mentor, brother and friend to many who will sorely miss him.”

Late Okorougo

Monday, June 13, 2022

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MISSILE CAN to APC, PDP

“Politicians can talk politics but we have stated our view long before now. Any party that tries the same religion ticket will fail. This is not 1993. Even when we have joint Muslim/Christian ticket, the church still goes through hell. Only God knows the number of Christians that have been killed in the last seven years with no one apprehended or prosecuted” – Christian Association of Nigeria (CAN) National Secretary, Joseph Bade Daramola, warning the parties against the same religion ticket.

MAHMUDJEGA Tricky Choice of Running Mate VIEW FROM THE GALLERY

n the early days of the Second Republic when the presidential system of government was new to Nigeria, there was some confusion as to the meaning of running mate. One newspaper published a cartoon alleging that a state governor was asked about his running mate. He apparently thought that his running mate was the rival party candidate that he ran against, because he boasted that he left him far behind in the polls! A running mate is the person who runs WITH you on the same party ticket, without which your nomination is not valid. I hope the English is correct. I say so because there was a story I read many years ago about Britain’s wartime Prime Minister Sir Winston Churchill, who was believed to have four times the vocabulary of an average English speaker. While World War Two was raging, Churchill received an intelligence report that said “our troops are fighting with the Germans in a small village in Italy.” Churchill took his pen, crossed out WITH, and added a note saying, “We fight either FOR or AGAINST the Germans, but not WITH them.” INEC said on Friday that all presidential candidates must conclude the choice of their running mates and upload to its portal by June 17. When the extended nomination window closed on Friday, 16 of the 18 registered parties had nominated their presidential candidates. [One party exceeded expectations by nominating two presidential candidates]. Remember, in most countries, you become a “candidate” as soon as you start running for office. It is only in Nigeria that the then National Electoral Commission [NEC] Chairman Prof Humphrey Nwosu forced us to make a distinction between an “aspirant” and a “candidate.” Nigerian politicians and the media have been making that unnecessary distinction for 32 years now. Once you become a presidential or, for that matter, a governorship candidate in Nigeria, the first task before you is to visit the houses of your defeated party rivals and plead with them to support you. We have already seen PDP’s Atiku Abubakar and APC’s Bola Tinubu doing the rounds. I didn’t see pictures of small party candidates doing similar rounds because most of them were unopposed in their primaries. Once you finish the fence-mending rounds, you come to your first big challenge, which is to nominate a running mate. In many cases, a victorious candidate would have promised that position to one of his supporters as part of his drive to win the nomination. A candidate could soon find out that he cannot fulfill that promise. Why because, party elders immediately come at you and advice you to nominate a defeated rival as running mate in order to prevent a crack in the party. Chief Abiola discovered soon after winning the SDP nomination in 1993 that he could not fulfill his pre-election pact with General Shehu Yar’adua to make Atiku Abubakar his running mate. In the US for example, the balancing act is ideological. Both Republican and Democratic

Tinubu parties have members spread across an ideological spectrum, from conservative to moderate to liberal. A liberal Democrat such as John Kennedy balanced his ticket with the more conservative Texas Democrat Lyndon Johnson in 1960, while conservative Republican Ronald Reagan balanced his ticket with moderate Republican George Bush Senior in 1980. However, when Democrats nominated the moderate Bill Clinton in 1992, he calculated that his position on the party’s ideological spectrum was so advantageous that he nominated Al Gore, another moderate Democrat, as his running mate. TIME magazine said at the time that rather than balance the ticket, he intensified it. In Nigeria, the balancing act is not ideological but regional and religious, with gender and age advocates sniping from the sidelines. The most settled question about a Nigerian presidential ticket is that it must be North/South, in whichever order. Even that, let’s remember, was once honoured in the breach. In 1978, UPN presidential candidate Chief Obafemi Awolowo nominated Chief Phillip Umeadi as his running mate, what

today we would have called a South/South ticket. He only corrected it in 1983. The next, nearly accepted balancing act is the Muslim/Christian, in whichever order. Never mind that adherents of traditional African religion have been totally marginalized. I said “nearly accepted” because it was breached several times by some of this country’s most adored politicians. Both Awolowo and Umeadi were Christians, for example. In 1979 too, Dr Nnamdi Azikiwe had Prof. Ishaya Audu of Kaduna as his running mate, another Christian/Christian ticket. Both shining examples do not receive a lot of mention these days perhaps because they did not win the election. In 1979 and again in 1983, NPN’s Shehu Shagari, GNPP’s Waziri Ibrahim and PRP’s Aminu Kano however balanced their tickets regionally and religiously. The 1993 MKO Abiola/Babagana Kingibe “Muslim/Muslim” ticket gets a lot of mention in Nigerian politics because it won the election, which was later annulled. Regional and religious balancing aside, there are other, unspoken factors in the balancing act of Nigerian political parties. Most of the time, a party nominates its presidential candidate and his running mate only from areas where it has significant following. However qualitative an aspirant is, he stands almost no chance of winning his party’s ticket unless it has demonstrable following in the locality where he comes from. This was why, during the recent major party primaries, candidates from South East had a realistic chance only of winning PDP’s ticket, but not APC’s, because of what President Buhari once called “those who gave you 97% and those who gave you 3%” of their votes. It was fairly clear that if APC zoned its ticket to the South, effectively that meant South West, 5 of whose 6 states are APC controlled. An exception to this rule was Olusegun Obasanjo in 1999, who was nominated by PDP despite the party’s lack of strength in his native South West. Nothing can be done now about the presidential candidates, because they were elected by party conventions. However, since a running mate is chosen essentially by the candidate, regional and religious groups have rushed in to pile up pressure on the candidates to do their bidding. Most strident

While a Muslim/Muslim ticket would attract intense media and Christian community hostility for Tinubu, it may in a perverse way assist his election chances. Especially if, as he privately assured, religion is not a big political factor in Yorubaland. This is not to say he must try it.

in this regard are the Christian Association of Nigeria, CAN, and Southern and Middle Belt Leaders’ Conference, so-called. The major party candidates, both being Muslims, must nominate running mates from the Christian faith, they said, or else. Former Secretary to the Government of the Federation Babachir Lawal also pitched in with the same argument. The way things stand, PDP candidate Atiku Abubakar will have no problem meeting this demand. He is already looking South, for that matter to the majority-Christian, PDP-supporting South East and South South for a running mate. He is also very unlikely to look to the South West because PDP is not strong there. Clearly, CAN’s agitation is directed at Tinubu. He is looking North for a running mate, but not automatically a Christian one, because of some hard political calculations. You see, CAN and SMBLC’s concern is not whether or not Tinubu wins the election, but that he must make a statement by nominating a Christian running mate even if that is not in his best electoral interest. Tinubu’s concern however is to win the election by any legal/political means possible, so his goal and CAN’s are diametrically opposed in this case. He must be looking at the map. Even though, as he infamously boasted at Abeokuta, Yoruba votes enabled President Buhari and APC to finally cross the line in 2015 and 2019, most APC votes came from North West and North East. It was mostly delegates from these regions that got Tinubu elected at the APC convention. To boot, it is only massive support from voters in these Muslim-majority regions that could elect Tinubu as president. Plus, the added risk that Atiku could peel away millions of voters in these regions if Tinubu falters. Now, the trick is, do you intensify this advantage Clinton-style, or do you make a statement that could imperil it? A question that Tinubu could ask CAN is, if I choose a Christian running mate at your prompting, will you promise me that you will deliver millions of votes to our ticket? I don’t think CAN can do so because, while choice of a running mate has tremendous psychological and media propaganda value, in reality most people vote for the presidential candidate, not running mate. So, while a Muslim/Muslim ticket would attract intense media and Christian community hostility for Tinubu, it may in a perverse way assist his election chances. Especially if, as he privately assured, religion is not a big political factor in Yorubaland. This is not to say he must try it. There could be a way round the problem. If the people who helped you to win nomination really care for your success in the general election, you can call upon them to make more sacrifices. Such as Chief Obasanjo did in 1999 when, soon after he defeated Dr. Alex Ekwueme for the PDP ticket with the help of Northern leaders, he again asked them to cede the Senate Presidency to South East in order to retain Igbo support for PDP. It is a formula Tinubu can try, with uncertain success.

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