WEDNESDAY 26TH JUNE 2024

Wale Edun: Tinubu's Govt Has Revamped Nigeria's Economy

Says Nigeria's total debt stock dipped by 15% in dollar term Puts outstanding Ways and

DMO: FX, interest rates, securitisation of Ways and Means pushed up public debt

and

Edun, yesterday, painted an optimistic outlook of the country's economy, saying it has been revamped, citing what he called positive trends in key economic indicators.

Edun made the submission while speaking to reporters at State House, Abuja, after the Federal Executive Council (FEC) meeting chaired by President Bola Tinubu.

The minister’s declaration came as the Debt Management Office (DMO) explained that the ongoing economic reforms by the federal government, which had impacted

Julian Assange Leaves Prison in Plea Deal with US Government

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Five Persons Shot Dead, Dozens Wounded as Protesters Storm Parliament in Kenya

To Resolve FX Liquidity Pressures, CBN Orders Banks,

IMTOs to Settle Diaspora Remittances in Naira

Move to boost access, strengthen local currency Provides option for same day settlement

Cardoso: CBN will adhere to conventional methods to tame inflation Optimistic on achieving price stability

James Emejo in Abuja

The Central Bank of Nigeria (CBN) yesterday directed Deposit Money Banks (DMBs) and International Money Transfer Operators (IMTOS) to pay all diaspora remittances in Naira and match with the corresponding foreign currency inflows going forward.

This was as the CBN Governor, Mr. Olayemi Cardoso, yesterday reaffirmed the determination of the Monetary Policy Committee (MPC) to subdue inflationary concerns through conventional methods. The central bank disclosed its directive to all DMBs and IMTOS

ZENITH BANK GROUP CEO VISITS MR GOVERNOR...

L-R: Group Managing Director/CEO, Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, with the Governor of Lagos State, Mr. Babajide Sanwo-Olu during a courtesy visit to the Lagos State Government House ... yesterday.

Continued on page 9 Continued on page 9

Ndubuisi Francis and Deji Elumoye in Abuja Minister of Finance

Coordinating Minister of the Economy, Mr. Wale

Akomas, PhD, FNIM (National Chairman), H.E Alhaji Sule Iyaji (member, BoT), H.E Barr Hazeem Gbolarumi (Deputy Nat.Chairman, South), H.E Barr Mukhtar Shehu Shagar, CFR (Deputy National. Chairman, North), and Hon. Kenneth Ibe-Kalu (Director-General) when the Forum of Former Deputy Governors of Nigeria held its second Joint

Emmanuel Addeh in Abuja

Expedite Action on New Minimum Wage, Labour Tells Tinubu as FEC Steps Down Memo

Federal Executive Council advises president to conduct further consultation with states, LGs, private sector Says executive bill on minimum wage to be forwarded to National Assembly later for approval TUC urges states to be ready to pay NECA demands tax embargo, suspension of new electricity tariff

Deji Elumoye and Onyebuchi Ezigbo in Abuja

As the contentious issue of new minimum wage for Nigerian workers lingers, one of the two main labour centres in the country, Trade Union Congress (TUC), yesterday, appealed to President Bola Tinubu to hasten the process of transmission of the new minimum wage to the National Assembly and its subsequent signing into law.

The appeal by TUC came as the Federal Executive Council (FEC), yesterday, stepped down a memorandum on the report of the Tripartite Committee on New National Minimum Wage for further consultation.

Equally yesterday, the organised private sector, under the auspices of the Nigeria Employers Consultative Assembly (NECA), gave conditions for its acceptance of the N62,000 new minimum wage being proposed by the federal government.

Minister of Information and National Orientation, Mohammed Idris, who disclosed the stepping down of the memo to newsmen after the FEC meeting presided by Tinubu, said this was done to enable the president to consult wider on the issue.

At the end of the tripartite committee’s meeting on new national minimum wage recently, the govern-

ment team and the organised private sector had offered N62,000 from the current N30,000, but organised labour, comprising Nigeria Labour Congress (NLC) and TUC, demanded N250,000 living wage.

But Idris explained that the council took the decision based on the fact that the issue of the national minimum wage was not just for the consideration of the federal government, but involved other stakeholders, like the state governments as well as the organised private sector.

He said the president needed to interact with other wage-paying entities to factor their contributions and circumstances into the executive bill on the matter that will be passed on to the National Assembly for passage into law.

Idris stated regarding the stepping down of the minimum wage memo, “I want to inform Nigerians here that FEC deliberated on that and the decision is that because the new national minimum wage is not just that of the federal government, it is an issue that involves the federal government, the state governments, local governments, and the organised private sector, and, of course, including the organised Labour.

“That memo was stepped down to enable Mr. President to consult further, especially with the state governors and the organised private sector, before he makes a presentation to the National

Assembly, before an executive bill is presented to the National Assembly.

“So I want to state that on the new national minimum wage, Mr. President is going to consult further so that he can have an informed position because the new national minimum wage, like I said, is not just an issue of the federal government.”

Idris said the president had studied the report of the tripartite committee on

minimum wage and wanted to consult wider before a final submission would be made to the National Assembly.

However, TUC appealed to Tinubu to hasten the process of transmission of the new minimum wage to the National Assembly.

TUC stated that the expectation of organised labour was that the new minimum wage bill should be signed into law before July.

The union also urged the states and other employers of labour to start making plans on how they would absorb the additional expenditure after the approval of the new minimum wage. President of TUC, Comrade Festus Osifo, made the assertions yesterday in Abuja, when he received top officials of the Kogi State government, led by Special Adviser to the Kogi

State Governor on Labour Matters, Mr. Onuh Edoka, at the headquarters of the union.

Osifo said TUC expected the new minimum wage to be ready latest July. He said organised labour was already mobilising to enforce the payment of the new minimum wage state-by-state as soon as it was approved.

continues online

NAIC Provides N1.01 Trillion Insurance Cover to Agricultural Projects in 5 Years

James Emejo in Abuja

Managing Director/Chief Executive, Nigerian Agricultural Insurance Corporation (NAIC), Mrs. Folashade Joseph, yesterday said it has provided N1.014 trillion in insurance cover to agricultural projects across the country in the past five years to boost food security.

Speaking during a meeting with a delegation from the United Arab Emirates (UAE), she said about 1.25 million farmers were provided insurance coverage, while about N8.56

billion was generated in insurance premiums over the period.

Joseph also said the corporation incurred claims totaling N3.88 billion, and settled about N3.08 billion in claims.

The NAIC boss said its intervention had impacted over 516,000 farming communities with its sensitization programmes for 129,000 agricultural value chain actors across the 36 states of the federation and the FCT.

She said the comprehensive approach to the administration of agricultural insurance in the country

had recorded a multiplier effects in the economy as farmers and value chain actors who received training during the sensitisation programmes have gone ahead to train others, resulting in improved agricultural productivity.

According to Joseph, “The corpora- tion therefore remains committed to its mission of enhancing agricultural productivity, thereby achieving food security and contributing to the overall growth and development of Nigeria."

She said tbe corporation's activities were in alignment with the Renewed Hope agenda of President Bola Tinubu's administration aimed at achieving food security, economic growth, job creation, poverty eradication, inclusivity, security, access to capital across all segments, and anti-corruption goals.

hydroponics, vertical farming, and controlled environment agriculture.

She said these advancements have not only revolutionised the agriculture industry in the UAE, but have also enabled farmers to cultivate a variety of crops in a more sustainable and efficient manner as well as played a pivotal role in enhancing food security, promoting sustainable development, and diversifying the country's economy.

The MD assured her visitors that the corporation and Nigeria at large remained open to partner them in all of these areas to produce enough for Nigeria and exports.

Seeks Yoruba language, history as compulsory subjects in schools

Fidelis David

The Pan Yoruba socio-political organisation, Afenifere, yesterday, called on the federal government to mandate the Central Bank of Nigeria (CBN) to reverse recent suspension of Heritage Bank’s licence. Afenifere, Ondo State chapter which described the transition of Owena Bank to Heritage Bank, as one of the economic legacies of the first Civilian Governor of Ondo state, Pa Adekunle Ajasin,

also charged the State government to put in place machineries for re-acquisition of the bank.

The group took the decision at its periodic meeting held in Akure which was presided over by the State Chairman, Chief Korede Duyile and attended by chieftains of the organisation who are from Ondo State including Basorun Sehinde Arogbofa and Chief Femi Aluko. Reading the meeting’s communique to newsmen, the State Publicity Secretary of the group,

Mr. Eric Oluwole, said the group wants Ondo State government to liase with the federal government to revive all the economic legacies floated by the Adekunle Ajasin administration.

“The legacies include the licence of the Heritage Bank and we advise Ondo State Government to reverse it to its original founding fathers that is the Ondo State Government. Other industries include ceramic industry, Okitipupa Oil company, and others," it stated. Besides, Afenifere commended

the state government for not relenting its effort on security especially the Amotekun outfit floated by the former Governor of Ondo State, Oluwarotimi Akeredolu.

“The group urged the state government to continue the funding of Amotekun and other security agencies in the state," it added.

On education, Afenifere advised the government to adopt as part of its education policies, the Yoruba language and history as compulsory subjects to be taught at the primary and secondary schools.

In recognition of the significant impact of the corporation on the lives of farmers, Joseph said the management was ready to explore viable opportunities to collaborate with progressive agencies and organisations to consolidate on the gains.

She said, “It is imperative to emphasize that the Corporation is dedicated to continuously reducing the risks associated with agricultural investments in the country.

While recognising the UAE for its remarkable accomplishments in the agricultural sector, she said the NAIC was ready to partner them particularly in the adoption of cutting-edge technologies and innovative farming methods like

Assuring that the investments by foreigners in Nigeria were safe with the corporation as Nigeria's leading agricultural insurer, she said NAIC would continue to play a pivotal role in providing risk management solutions to farmers, agribusinesses, and other stakeholders across the agricultural value chain.

Shr said, “Our comprehensive range of insurance products and services are designed to mitigate the impact of various risks, including crop failure, livestock mortality, and property damage, thereby safeguarding the livelihoods and investments of our clients.

“The corporation is therefore fully committed to supporting initiatives that promote agricultural development, enhance food security, and strengthen the resilience of farmers, especially the smallholders in Nigeria."

in Akure

SanwO-Olu with chilDrEn

Celebrant, the Governor of Lagos State, Mr. Babajide Sanwo-Olu with children living with disabilities during a thanksgiving service to mark his 59th birthday at the Chapel of Lagos House, Marina, Lagos... yesterday

conDolEncE viSiT To ThE SArAKiS...

Tinubu to Send 2024 Supplementary Appropriation Bill to N'Assembly Tomorrow

Cost of one presidential

Sunday Aborisade in Abuja

Barring any unforeseen developments, the presidency has perfected necessary arrangements to send a Supplementary Appropriation Bill to the National Assembly on Thursday ( tomorrow).

Senate Spokesperson Adeyemi Adaramodu had last week, put the size of the proposed money bill at N6.6 trillion.

THISDAY’s checks within the National Assembly yesterday revealed that the purchase of a brand new private jet for the use

of President Bola Tinubu and his deputy, Kashim Shettima, would be included in the money bill.

It was also gathered that three out of the existing planes in the presidential fleet would be put up for sale to enable the government to raise sufficient funds needed to procure the executive jet.

A principal officer off the National Assembly who disclosed this to our correspondent, strictly on conditions of anonymity yesterday, added that the three existing planes would be put in proper shape before they would be sold.

The source said: "Barring any unforeseen circumstances, the two chambers of the National Assembly should receive a Supplementary Appropriation Bill from the presidency on Thursday this week.

"Contrary to speculations that the federal government plans to buy two airplanes for the president and his deputy, only the cost of one VIP jet with necessary security configuration would be included in the Bill.

"It has been established that none of the aircraft in the fleet of the presidential jets is good enough to fly the president and his deputy.

"If you noticed, the last two trips of the president and his deputy were undertaken in commercial aircraft which does not have necessary security configuration and features expected of such air planes.

"You will agree with me that such arrangement, apart from not being too good for the image of Nigeria, also poses a serious national security threat."

The source added that the 2024 Supplementary Appropriation Bill would be read simultaneously on the floors of both red and green chambers when the federal lawmak-

NELFUND Postpones Student Loan Application for State-owned Institutions

Kuni Tyessi in Abuja

The management of the Nigerian Education Loan Fund (NELFUND) yesterday, announced a 14-day postponement of the application process for student loan for state institutions due to low data submissions a statement by the agency revealed in Abuja. The Fund said the decision was necessitated by the failure of several state-owned institutions to upload the required student data and fee information to the NELFUND Student Verification System.

It explained: “To date, only a limited number of state-owned institutions have successfully completed the data submission process. These include 20 state universities out of 48, 12 state colleges out of 54, and 2 state polytechnics out of 49.

“While we acknowledge the efforts of these institutions, the failure to submit data from the remaining state institutions poses significant challenges to ensuring a seamless and accurate verification process for student loan applicants.

“The application window, initially set to open on June 25, 2024, will

now commence on July 10, 2024.”

The Fund said the extension would provide additional time for state institutions to comply with the data submission requirements and ensure their students benefit from the federal government’s initiative.

To facilitate an efficient and errorfree application process, it noted that it would be crucial that all state institutions provide complete and accurate information.

This includes JAMB numbers, matriculation numbers, admission numbers, full names, level, faculties, departments, duration of program,

fees, and gender of all eligible students.

Incomplete or incorrect data submissions would result in application delays and potential disqualification for affected students.

The fund urged all state institutions to expedite their data submission processes and ensure the accuracy of the information provided.

It further warned that institutions that failed to meet the revised deadline risked disadvantaging their students, who depend on these loans to support their education.

President Sets Up 7-man Inter-ministerial Committee to Oversee Cholera Emergency

Deji Elumoye in Abuja

President Bola Tinubu has directed the setting up of an inter-ministerial committee to oversee the cholera emergency operation centre being operated by the National Centre For Disease Control (NCDC).

Health Minister, Prof Ali Pate, who made this known to newsmen yesterday after the Federal Executive Council (FEC) meeting chaired by the president at the State House, Abuja, listed the committee members to include: Federal Ministry of Health, Finance, Water Resources, Environment, Youth, Aviation and Education.

According to him, the committee's effort is in addition to state governments' support towards ensuring that

Nigeria makes progress in reducing open defecation as cholera requires multi-sectoral approach.

He said: "The council then approved a cabinet committee comprising the Federal Ministries of Health, Finance, Water Resources, Environment, Youth, Aviation and Education because some of our children will be returning to school.

“In addition to this, the State government we will co-opt so that Nigeria makes progress in reducing open defecation because cholera is a developmental issue that requires multi sectoral approach.

"The president directed that cabinet committee be set up to oversee what the emergency operation centre led by NCDC is doing and for the resources to be

provided complemented by the statePategovernment. further disclosed that at the moment 31 states have recorded 1,528 cases with 53 deaths.

He said: "At the moment, about 31 states have recorded 1528 cases and 53 deaths in Nigeria that is what we are working on through emergency operation centre that was activated by NCDC on Monday.

"Now we have cholera outbreak and we discussed extensively in the Council in addition to a new emergence of yellow fever specifically in Bayelsa State.

"On cholera we are in the middle of 7th pandemic globally, in 2022 the world had almost 500,000 cases of cholera so it is not only peculiar to Nigeria. In 2023, almost 700,000

cases of cholera were reported by the World Health Organisation (WHO). This year more than 200,000 cases have occurred in five regions of the world".

Also yesterday, FEC approved a total sum of N42.4 billion as cost of variation for three federal roads across the country.

This was made public by the Minister of Works, David Umahi who briefed newsmen after the council meeting.

Umahi said: "Today in FEC we had three approvals for review of ongoing projects, the first one was the review for the construction of Umulungbe - Umuoka road in Enugu state. It was approved for review from

ers resume from their current Sallah break on Tuesday next week.

The Chairman, Senate Committee on Media and Public Affairs, Adeyemi Adaramodu, had last week confirmed that President Tinubu will send the Supplementary Budget to the nation's apex legislative institution for approval after resumption.

The federal lawmakers will resume plenary on Tuesday, July 2.

Adaramodu who put the size of proposed money bill at N6.6 trillion had noted that its details were still being computed by the executive arm of government.

He had said: “The budget would be sent any time we resume after the Sallah recess.

"I believe the bill and other important executive communica- tion will be sent to the National Assembly when we resume in July.

The budget size is N6.6 trillion,” he added.

Similarly, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, appeared before a joint committee of the National Assembly penultimate week and explained that the proposed 2024 Supplementary Appropriation Bill will be partly funded with the N50 billion Presidential Infrastructure Development Fund (PIDF).

He said the PIDF was currently domiciled in the National Sovereign Wealth Investment Authority (NSWIA). He said the N50 billion in the Fund would not be enough to fund the Renewed Hope Transformational Projects hence the Federal Government approached the World Bank for a $2.5 billion loan among others revenue sources.

He further disclosed that the World Bank management would meet soon to take a decision on its approval.

He was at the federal parliament to brief the Joint Senate and House of Representatives Committee's on National Planning and Economic Affairs over the proposed Supplementary Appropriation Bill.

The Minister told the committee members that the entire Supplementary Budget, which is still being prepared, would be spent on four identified transformational projects.

He listed the projects to include Lagos - Calabar Coastal Road; the proposed Sokoto – Badagry Road and the completion of all ongoing railway projects, which the federal government had yet to provide counterpart funding for.

Bagudu also said the proposed bill would fund the rehabilitation and expansion of dams and irrigation schemes in order to support increased production within the economy.

Apart from this, he said the supplementary budget would

provide more money to support Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) projects to provide for more energy competitiveness.

The minister added the transSahara highway which the current administration inherited would also be funded with the supplementary budget.

He said: "The supplementary budget that was announced or rather was mentioned, came about when Mr. President presented a memo to the Federal Executive Council (FEC).

"In the memo, he (Tinubu) said that he inherited the Presidential Infrastructure Development Fund, which was domiciled in the National Sovereign Wealth Investment Authority.

"He has also identified transformational projects, including Lagos - Calabar, Coastal Road; proposed Sokoto-Badagry Road; completion of all ongoing railway projects, which we have not provided counterpart funding.

"We also plan to fund the rehabilitation and expansion of dams and irrigation schemes in order to support increased production within the economy. Last but not the least, more money to support CNG, LNG."

"The three roads, dams and irrigation, and railways, is what Mr. President designated as the infrastructure, renewed health infrastructure priority items.

"So that's what he directed that the ministry prepare for appropriation supplementary appropriation Bill. We have not finished work on the bill, we have not submitted the supplementary appropriation draft to the FEC yet.

"So many people have approached the ministry and indeed leadership of the National Assembly as well as many members asking about the renewed hope the supplementary appropriation.”

The minister also said the current agitation by the organised labour minimum wage agitation might also be considered in the proposed legislation.

He said: "We are not clear how much revenue we have, given the challenges of the moment. Yes, we have done some scenarios given the exchange rate fluctuation and the impact of the budget and even scenarios given the current minimum wage negotiation that is ongoing.

"This is because even at N60,000, even at N62,000, that immediately doubles the minimum wage.

"So it was the forecast that even at the lowest level, it will increase inflation rate and that might affect interest rates which will affect in turn, economic activity, debt surges, among others.”

L-R: Ex-PDP National Chairman, Alh. Kawu Baraje; PDP national chairman, Alhaji Umar Damagun; daughter of the deceased, Sen. Gbemisola Saraki; former Ogun State Governor, Sen. Ibikunle Amosun; son of the deceased and former Senate President, Dr. Abubakar Bukola Saraki; his wife, Mrs. Toyin Saraki; and PDP National Secretary, Sen. Sam Anyanwu, during a condolence visit to the Sarakis yesterday following the death of their mother, Mrs. Morenike Florence Saraki.

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Julian Assange Leaves Prison in Plea Deal with US Government

Emmanuel Addeh in Abuja

WikiLeaks founder, Julian Assange, was released from a British prison and on his way to a remote Pacific island yesterday where he will plead guilty to a conspiracy charge as part of a plea deal with the US Justice Department, according to court documents.

The agreement will free Assange and end the years-long legal battle over the publication of a trove of classified documents.

Assange was charged by criminal information — which typically signifies a plea deal — with conspiracy to obtain and disclose national defence information, the court documents said.

A letter from Justice Department official Matthew McKenzie said Assange would appear in court in the Northern Mariana Islands, a UScontrolled territory north of Guam, at 9 a.m. local time Wednesday to plead guilty.

A plane believed to be carrying Assange landed early Tuesday in the Thai capital Bangkok to refuel. He will later arrive for what could be a final court hearing after spending five years in a British jail, NBC reported.

The islands are 3,400 miles north of Australia, Assange's country of citizenship, where the Justice Department expects he will return following the proceedings.

Australian Prime Minister Anthony Albanese said that "the case has dragged on for too long, there is nothing to be gained by his continued incarceration and we want him brought home to Australia."

Assange's mother, Christine Assange, said in a statement widely reported by Australian media: "I am grateful that my son’s ordeal

is finally coming to an end. This shows the importance and power of quiet diplomacy."

His wife, Stella Assange, is currently in Australia waiting for his arrival, she told BBC Radio 4. "He will be a free man once it is signed off by a judge," she said, adding that she wasn't sure the deal would happen until the last 24 hours.

US charges against Assange stem from one of the largest publications of classified information in American history, which took place during President Barack Obama's first term.

Starting in late 2009, according to the government, Assange conspired with Chelsea Manning, a military intelligence analyst, to use his WikiLeaks website to disclose tens of thousands of activity reports about the war in Afghanistan, hundreds of thousands of reports about the war in Iraq, hundreds of thousands of State Department cables and assessment briefs of detainees at the US detention camp at Guantánamo Bay, Cuba.

Court documents revealing Assange's plea deal were filed Monday evening in US District Court for the Northern Mariana Islands. Assange was expected to appear in that court and to be sentenced to 62 months, with credit for time served in British prison, meaning he would be free to return to Australia, where he was born.

“This was an independent decision made by the Department of Justice and there was no White House involvement in the plea deal decision,” National Security Council spokesperson Adrienne Watson said in a statement.

Assange has been held in the high-security Belmarsh Prison in east London for five years, and he previously spent seven years in

self-exile at the Ecuadorian Embassy in London — where he reportedly fathered two children — until his asylum was withdrawn and he was forcibly carried out of the embassy and arrested in April 2019.

A superseding indictment was returned more than five years ago, in May 2019, and a second superseding indictment was returned in June 2020.

FX

Assange has been fighting extradition for more than a decade: first in connection with a sex crimes case in Sweden that was eventually dropped, then in connection with the case against him in the United States.

In March, the High Court in London gave him permission for

a full hearing on his appeal as he sought assurances that he could rely upon the First Amendment at a trial in the US.

In May, two judges on the High Court said he could have a full hearing on whether he would be discriminated against in the US because he is a foreign national. A hearing on the issue of Assange's free speech rights had been scheduled for July 9-10.

WikiLeaks also published hacked emails from the Democratic National Committee that upended the 2016 presidential race. Russian intelligence officers were subsequently indicted in connection with the hacking in 2018 in a case brought by then-special counsel Robert Mueller.

Scarcity, Naira’s Deteriorating Value, Others Fueling Exodus of Multinationals from Nigeria, Says CIoD

Dike Onwuamaeze

The Chartered Institute of Directors (CIoD) Nigeria has identified lack of an easily accessible foreign exchange market, deteriorating value of Naira, insecurity and poor power supply to businesses as the core reasons multinational manufacturing companies are trooping out of Nigeria.

The Director General/CEO of the CIoD, Mr. Bamidele Alimi, expressed these views in a statement titled, “Position Paper on the Exodus of Multinationals from Nigeria,” in which he urged government to actively engage in public relations campaigns to rebuild confidence among foreign investors while addressing the underlying issues that made the country’s business environment challenging in order to stem the exodus and attract new foreign investments.

Alimi said: “Obtaining foreign exchange is a significant hurdle for multinational companies. The volatility in the exchange rate creates untold hardship for businesses. The lack of an easily accessible liquid forex market, where companies can

easily buy and sell foreign currency at market rates, significantly hinders their operations.

“This makes it hard for them to repatriate profits in Dollars or Euros, impacting their global bottom line.”

He added: “The depreciation of the Naira against major currencies like the US Dollar further compounds the foreign exchange woes.

“This erosion of value means that multinational companies earn less in Dollar terms for their sales, making their operations (in Nigeria) less profitable.”

He further stated that erratic and unreliable power supply is another chronic problem as “frequent outages disrupt production, increase reliance on expensive generators, and raise operational costs for multinational firms.

“This lack of stable electricity makes it difficult to maintain efficient production lines and plan for the future. Manufacturers like Kimberly-Clark, which rely heavily on consistent power for production, might have found this energy situation untenable, leading to their exit.”

The director general also stated

Finima Community Protest Halts Construction Work at NLNG Train 7

The people of Finima community in Bonny Local Government Area of Rivers State have shut down the operations of Saipem, Chiyoda and Daewoo (SCD) JV, the companies handling the construction of the muti-billion dollars NLNG Train 7.

The people who are the host community of the NLNG Trains 1-7, wants the SCD JV to fully implement the Nigeria Oil and Gas Industry Content Development Act 2010, Community Content Guideline 2017, respect the leadership of Finima and display of vendors list approved for the community.

The protest, which started as early as 5am yesterday, led to the barricade of the entrance to the construction site, while several workers were left stranded as staff buses could not pick them up.

Speaking to Journalists, the Chairman of Finima Youth Congress (FYC), Shedrack Brown, stated that the community decided to protest after repeated efforts to make the SCD JV see reason with them on their demands through peaceful approach.

He disclosed that they had written several letters to the management of the joint venture to iron out contentious issues but all were

met with alleged non-compliance and lack of regard for the host community.

According to him, "The entirety of Finima community have come out to protest against neglect by the SCD JV, who over time decided not to have any dealings with Finima. You will recall that in 2021, there was the groundbreaking for the construction of NLNG Train 7 project and NLNG in their wisdom brought the entirety of the team handling this project to Finima community for identification.

"But ever since that was done till date, they have refused to have any dealings, any engagement with

the Finima community, we have written several letters through the Finima Capacity Development Committee, the Finima Youth Congress among others to see that they have engagement with the community, it is unfair, it is unjust that such construction will be going on in the community and they will not want to have any engagement with us."

He also disclosed that they had petitioned the Commissioner of Police in the state, whom he said invited all parties and the JV allegedly refused to honour the invitation.

"Most shockingly, the day we

that infrastructural impediments and bureaucratic bottlenecks were also factors driving out multinational businesses from Nigeria.

He averred that no nation would thrive better than its level of infrastructure and pointed out that, “poor road networks, congested ports, and inefficient logistics create bottlenecks that delay deliveries, increase costs, and disrupt supply chains.”

According to him “complex bureaucratic procedures and regulatory hurdles add to the operational burden for the multinationals.

“Companies that rely on efficient logistics for distribution might have found insufficient infrastructure and bureaucratic processes too cumber-

some, impacting their ability to reach customers effectively.”

He further stated that security concerns were also casting a shadow over business stability in the country. Alimi said: “Rising crime rates and an insurgency and banditry in the northern part, create an unstable environment for businesses.

“This can deter investment, disrupt operations, and increase insurance costs for multinationals.”

He, therefore, urged the government to address these underlying issues that have made the country’s business environment challenging in order to stem the tide of exit of multinational firms and attract new foreign investments.

Ndubuisi Francis in Abuja

The Securities and Exchange Commission has announced the launch of the revamped e-Dividend Mandate Management System (e-DMMS) portal as a bold step to curb the growth of unclaimed dividends and generally improve investor experience in the Nigerian capital market.

Despite previous measures, the challenge of unclaimed dividends has continued, standing currently at over N190 billion.

In the latest move to stem the tide, the SEC has unveiled the e-DMMS, an initiative it sees as "another important step towards curbing the growth of unclaimed dividend and generally improving investor experience in the Nigerian capital market."

According to the Commission, "the revamped e-DMMS Portal intro-

duces a “self-service interface” that allows investors apply to mandate their accounts for e-dividend virtually, without having to visit a registrar or a bank."

It advised investors whose shareholding accounts appear on the list of non-mandated accounts hosted on the Commission’s website to use the new self-service portal by clicking on the “NIBSS Self Service” link.

"Alternatively, investors may approach their respective registrars or banks to register for collection of their unclaimed dividends and the receipt of subsequent dividends electronically.

"Investors are also encouraged to refer the Frequently Asked Questions (FAQs) provided on the Commission’s website for more information and guidance," the management of SEC said.

Blessing Ibunge in Port Harcourt

L-R: Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Information and National Orientation, Mohammed Idris; Coordinating Minister of Health and Social Welfare, Professor Ali Pate and Minister of state for Environment, Dr. Salako Adeboye, addressing State House Press corps shortly after the Federal Executive Council meeting held at the Presidential Villa, Abuja...yesterday

PHOTO: GODWIN OMOIGUI

NMDPRA Says No Dirty Fuels in Nigeria, Debunks Dangote Refinery’s Claim

Pledges fairness in midstream, downstream regulatory activities

Emmanuel Addeh in Abuja

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) yesterday said there were no dirty fuels, especially diesel being imported into the country, stressing that all imports meet current specifications.

Speaking after a meeting with the oil marketers and local refineries operators in Abuja, the Executive Director, Distribution Systems, Storage and Retailing Infrastructure, Ogbugo Ukoha, insisted that the NMDPRA takes the issue of regulatory compliance very seriously.

Some of those present at the meeting were: The Executive Vice President, Downstream of the Nigerian National Petroleum Company Limited (NNPC), Dapo Segun; the Group Managing Director of Rain Oil Limited, Dr Gabriel Ogbechie as well as the Group Chief Commercial

to pay all diaspora remittances in Naira in a circular dated June 24, 2024, that was signed by the CBN acting Director, Trade & Exchange Department, Dr. W. J. Him, which was addressed to all DMBs and IMTOS.

The apex bank noted that the move was part of CBN's commitment to the smooth functioning of the foreign exchange markets and enabling greater remittance flows through formal channels.

Specially, the central bank pointed out that it has implemented measures that would enable eligible IMTOs to access Naira liquidity through the apex bank.

Consequently, the CBN said henceforth, eligible IMTO operators would be able to access the CBN window directly or through their Authorised Dealer Banks (ADBs) to execute transactions for the sale of foreign exchange in the market.

To further smoothen the process, the circular among other things set out a compliance regime.

The CBN stated that the option of same day settlement would be available for transactions executed and confirmed before 12 noon on

an attempt to enter the parliament compound.

Citizen TV later showed damage from inside the parliament building, which had been partially set ablaze.

Protests and clashes also took place in several other cities and towns across Kenya, with many calling for Kenyan President, William Ruto, to quit, as well as voicing their opposition to the tax rises, Reuters reported.

In a televised address to the nation, Ruto said security was his "utmost priority". He maintained that the tax debate had been "hijacked by dangerous people".

The president said, "It is not in order, or even conceivable, that criminals pretending to be peaceful protesters can reign terror against the people." He said pledged a swift response to the "treasonous events".

Police in Nairobi opened fire after tear gas and water cannon failed to disperse the crowds. They eventually managed to drive protesters from the parliament building and lawmakers were evacuated through an underground tunnel, local media said.

Later yesterday, Defence Minister Aden Duale said the army had been deployed to help the police deal with a "security emergency", which had resulted in the "destruction and breaching of critical infrastructure".

Reuters said one of its journalists counted the bodies of at least five protesters outside parliament.

The Kenya Medical Association said at least five people had been shot dead while treating the injured, and that 31 people had been injured, and another 13 shot with live bullets and four with rubber bullets.

Officer, Dangote Group, Rabiu Umar.

The response is coming against the backdrop of claims by the management of the Dangote Refinery last Sunday that the regulator was still allowing the importation of what it described as ‘dirty fuels’, despite the fact that the local refinery has better quality diesel.

Specifically, the Vice President, Oil and Gas, at Dangote Industries Limited (DIL), Devakumar Edwin, said that the NMDPRA had been granting import licences 'indiscriminately' to oil marketers to keep bringing in the products, including diesel and aviation fuel.

But the NMDPRA stated that it always ensures that only quality petroleum products are supplied and consumed in Nigeria, explaining that current imports were still far below the 50 Parts Per Million (PPM) allowable sulphur limit.

“There is no dirty fuel that we

a trading date.

The circular also stated that pricing for transactions executed with the CBN would be based on prevailing Nigerian Autonomous Foreign Exchange Market (NAFEM) rates, as referenced by an observable and acceptable market benchmark.

It added that the operation of the market segment followed the existing arrangement in place for authorised dealers with foreign portfolio investment participating in the primary market securities auctions.

The central bank also stressed that regulatory returns to be submitted to it by all participants daily was mandatory and expected to contain all the relevant information on the sources of funds.

It stressed that all interested IMTOs were required to confirm their partner banks and advise standard settlement instructions to facilitate the smooth implementation of this initiative, adding that participants in this segment were limited to IMTOS, ADBs and the CBN.

Recently, Cardoso, disclosed that the apex bank had productive

The association called on the authorities to establish safe medical corridors to protect medical staff and ambulances.

Ruto won an election almost two years ago on a platform of championing Kenya's working poor, but had been caught between the competing demands of lenders, such as the International Monetary Fund (IMF), which continued to urge the government to cut deficits to obtain more funding, and a hard-pressed population.

Kenyans have been struggling to cope with several economic shocks caused by the lingering impact of the COVID-19 pandemic, the war in Ukraine, two consecutive years of drought, and depreciation of the currency.

The finance bill aimed to raise an additional $2.7 billion in taxes as part of an effort to lighten Kenya's heavy debt load, with interest payments alone consuming 37 per cent of annual revenue.

In Washington, the White House said the United States was closely monitoring the situation in Nairobi and urging calm. Ambassadors and high commissioners from countries, including Britain, the US and Germany, said in a joint statement they were deeply concerned by violence they had witnessed during recent anti-tax protests and called for restraint on all sides.

Kenyan activist Auma Obama, the half-sister of former US President Barack Obama, was among protesters tear-gassed during the demonstrations, a CNN interview showed.

Internet services across the East African country experienced severe

would encourage to come into Nigeria. And there is no dirty fuel being brought in,” Ukoha stated.

Giving a background on the current specification, he explained that the Economic Community of West African States (ECOWAS) Heads of State in 2020 endorsed a declaration adopting the Afri-5 fuel roadmap that requires that certain products have a minimum 50 ppm.

The declaration, he said, encouraged almost an immediate enforcement against imports to comply with the standard, but deferred enforcement for local refineries up to December 31, 2024.

“So as the Authority, what have we done since we came into being? We started by engendering compliance. We saw a downward trend up to December 2023. In December and in January of this year, we noticed a spike in the sulphur contents of products being imported. And we

discussions with IMTOs, where, "we collectively committed to doubling remittance flows through formal channels into Nigeria in the immediate short to medium term.

“This target is both ambitious and achievable, and we're wasting no time in setting up a collaborative task force, reporting to myself, to drive progress and address any bottlenecks that hinder flows through formal channels," he had said.

The central bank had introduced several initiatives aimed at improving capital inflows into the country through diaspora sources.

In June 2023, the apex bank had also announced the introduction of its digital currency known as the eNaira as a payment option to recipients of diaspora remittance.

The central bank had said the move was in furtherance of efforts to liberalise the payout of diaspora remittance.

Meanwhile, Cardoso, yesterday reaffirmed the determination of the MPC to subdue inflationary concerns through conventional methods.

In an interview with Bloomberg in London, the CBN governor shared

disruptions during the police crackdown, internet monitor Netblocks said. Kenya's leading network operator Safaricom said outages had affected two of its undersea cables but the root cause of the outages remained unclear.

Parliament approved the finance bill, moving it through to a third reading by lawmakers. The next step was for the legislation to be sent to the president for signing. He can send it back to parliament if he has any objections.

The government had made some concessions, promising to scrap proposed new taxes on bread, cooking oil, car ownership and financial transactions. But that had not been enough for protesters.

The finance ministry said the concessions would blow a 200 billion Kenyan shilling ($1.56 billion) hole in the 2024-25 budget, and compel the government to make spending cuts or raise taxes elsewhere.

Tuesday's protests began in a festival-like atmosphere, but as crowds swelled, police fired tear gas in Nairobi's Central Business District and the poor neighbourhood of Kibera. Protesters ducked for cover and threw stones at police lines.

Police also fired tear gas in Eldoret, Ruto's hometown in western Kenya, where crowds of protesters filled the streets and many businesses were closed for fear of violence.

Further clashes broke out in the coastal city of Mombasa and demonstrations were held in Kisumu, on Lake Victoria, and Garissa in eastern Kenya, where police blocked the main road to neighbouring Somalia's port of Kismayu.

again now began strong enforcement from February 1.

“I am happy to tell Nigerians that up until as we speak in June, the average sulphur content in every Automotive Gas Oil (AGO) or diesel that is brought into Nigeria, the average is far below what the 50 ppm provision is in the law.

“With the local refineries, remember that declaration deferred it and so they continue to produce at a higher level. But we are not very anxious about that because even the new refineries that are coming in have within their design of the plant, desulphurisation units that will see in the nearest future that sulphur going down as low as 10 ppm,” he stressed.

To guarantee the wellbeing and health of Nigerians, the NMDPRA said that it takes the matter of quality of imported fuels very seriously.

“There is no dirty fuel that we

key insights on the current state of the market, mainly focusing on the stability of the Naira and inflation rates.

He noted a deceleration in the month-on-month inflation rates, which he termed a positive development.

Cardoso further assured that the MPC members remained vigilant in monitoring inflation trends and ensuring a moderation of inflation numbers.

He said, "MPC members will continue to monitor the trajectory and are determined to ensure that they put inflation under control."

The central bank governor also expressed optimism about recent improvements in liquidity and return of confidence to the market, emphasising a period of stability following previous volatility in the foreign exchange market.

He attributed the new development to increased liquidity and a calmer approach from market participants on both the buy and sell sides.

He said, "In the past, people were

indices that had beclouded the true state of the economy, and said the administration had straightened out practices that had hitherto burdened the economy.

According to him, the country's total debt stock in US dollar terms decreased by 15 per cent in the first quarter (Q1) of 2024, a development he described as "very positive".

He, however, pointed out that when factoring in exchange rate movements and domestic debt issuance, the total debt stock in naira terms, increased by 25 per cent.

Edun stressed that the government's revenue collection mechanism had been robust due to technology-driven initiatives, adding that expenditure controls are also being implemented.

He stated that the federal government had not relied on Ways and Means advances to fund its operations, a departure from past practices.

The minister highlighted that the current administration inherited a legacy of N22.7 trillion in outstanding Ways and Means, which were being audited and securitised. He further explained that despite this, the current Ways and Means deficit stood at N3.4 trillion, which was offset by operating surpluses from revenue-generating agencies.

According to the minister, "I gave the council a verbal briefing that I'm giving now, and I will start by saying that when we interrogate the figures over the first quarter of this year, starting end of December and end of March, if we want to be positive, all we will say is that the glass is half full.

"We are halfway there. If not, we can be negative and try and say the glass is half empty.

“Why do I say this? The debt stock, the total debt stock of Nigeria in US dollar terms fell by 15 per cent. That

would encourage to come into Nigeria and I have given you the statistics for June. What we have on the average from imports have continued to go down from 200 ppm on the average and now we have it far below the 50 ppm that is provided under the law.

“And then with the refineries, there is no need to enforce that until the end of this year. But they themselves are already taking steps to see that that is also guaranteed,”

Ukoha explained.

On the outcome of the meeting, the NMDPRA official said it was aimed at promoting collaboration to ensure that there’s fair competition in the downstream.

He said: “Our discussions covered considerable issues, very significant and profound issues of pricing, competition issues have been raised and we will continue to engage with every operator to

panicking and front-loading their requests," he explained, stressing that "Now, a lot of that has calmed down. There's no inclination to do that because liquidity has returned to the market."

He further pointed to the significant achievement of merging disparate exchange rates into a more unified system.

Cardoso said, "We had two different rates; right now, we more or less have one rate. And we believe that this is good. It allows companies to plan."

He also emphasised the importance of a predictable exchange rate for economic planning and investment.

He reaffirmed his confidence in the current market dynamics, where willing buyers and sellers operate freely, noting that it had contributed to the stability of the Naira.

He, however, stressed the importance of continuous observation and management to ensure the market benefits all participants.

Cardoso, stressed the crucial

is very positive, any rating agency, any creditor, any investor looking at that will see it as a positive move.

“We're a country that has petrodollars. We have ability to earn in dollars. So it's highly relevant that we look at what is our exposure in dollar terms. On the other hand, given the exchange rate movements, even though there was like an N8 trillion increase in actual debt issuance, the total debt stock, when you count domestic debt, which, as I said, there was increase in issuance. When you count the total external debt and domestic debt in naira terms, it has increased by 25 per cent.

“That’s mainly due to the foreign exchange movement, which can change tomorrow, as we know.

Linked to that is the all-important question of the government's capacity to pay its way, debt.”

Edun maintained, "Credit is all about the revenue to service and, of course, to use those funds properly, judiciously, accountably and in a way that gives positive returns.

“I can say quite categorically that under President Bola Tinubu, the federal government does not rely on Ways and Means in order to fund itself. At no time have we gone to Mr. President and requested permission to seek funding from central bank to pay anybody, be it external debt service, be it share capital cash calls, or any other of the liabilities that the government has.

"As with all agencies, we are focused on ensuring that the revenue that is due to the federal government is collected robustly, using technology, avoiding the blockages, which manual processing can cause, and it has led to a very robust revenue effort and likewise, we are implementing expenditure controls, also very ably empowered by technology.

Ogbugo Ukoha

see that we land at a place that is ultimately beneficial to Nigeria and Nigerians.”

The single objective, he said, was to continue to plan, collaborate and work together in a manner that ensures and guarantees energy security within the country.

role of coordinated monetary and fiscal policies in achieving economic stability, adding that the collaboration was essential for managing the macroeconomic fundamentals that influence the market, aiming to provide the best value for the Naira.

The country's annual inflation rose to a 28-year high of 33.95 per cent in May 2024, according to data from the National Bureau of Statistics (NBS).

However, recent data revealed that the month-on-month inflation rate had slowed for the third consecutive month, validating the effectiveness of the apex bank's monetary policy tightening measures.

The central bank has increased the Monetary Policy Rate (MPR), the benchmark interest rate for the third time in a row under Cardoso to curtail rising prices which have made life difficult for Nigerians in recent times.

The commitment will reconvene next month to review its policy options and way forward for the economy.

“So within that context, what we have is that we had legacy. Mr. President inherited a legacy of N22.7 trillion in outstanding Ways and Means, which have been securitised on the eve of the entry of President Tinubu’s administration.

“Naturally, we are auditing, we're doing a forensic audit and interrogating that figure, because it's a liability which we have to pay interest on...But as a matter of fact, the current Ways and Means deficit is N3.4 trillion.” The minister also explained, “As I said, we collect the operating surpluses of revenue generating agencies by law under the Fiscal Responsibility Act and other legal guidelines and when we look at how much is outstanding, and how much is owed, we are actually positive.

“The amount that is owed and that we are claiming far outweighs the N3.4 trillion in Ways and Means and as I've said before, we do not rely on Ways and Means to pay salaries.

"We don't rely on it to pay external debt servicing or other obligations. That is the situation, the finances of Nigeria have been revamped.” Hower, DMO said the ongoing economic reforms by the federal government, which had impacted foreign exchange (FX) and interest rates, partly contributed to the latest spike in public debt stock, citing the depreciation in the official naira exchange rate from N899.39/$ in Q4, 2023 to N1,330.26/$ in Q1, 2024. According to the latest figures released last weekend, total public debt, comprising that of the federal government, the 36 states of the federation, and the Federal Capital Territory (FCT), stood at N121.67 trillion as of March 31, 2024, compared to N97.34 trillion in December 31, 2023 (Q4,

F I ve Per S on S S H o T De AD , Dozen S Woun D e D AS Pro T e ST er S S T orm P A rl IA men T I n Ken YA

A CONDOLENCE MESSAGE AND TRIBUTE

The Family of Ichie Daniel Obiesie Orjiako (KSJI) of Uli, in Anambra State Commiserate with Dame Emere-Owa Patience Ngochindo, all her children, grandchildren and the entire Ngochindo family of Eleme in River State, on the demise of

Sir Festus

NGOCHINDO

(Emere Egbere Onei Akara III Emere Esuri Njiran 1 of Eleme)

who passed on recently.

Sir Festus Ngochindo was a renowned economist and statesman who served the River State Government Civil Service and Nigeria with his talent and selfless commitments at all times.

He left a bold legendary foot prints of Honour and integrity on the sands of time.

SIGNED FOR THE FAMILY :

PROF MRS. CHRISTINE

(Adadioranma)

DR. OLIVER IKE ORJIAKO

(Oluoha of Umuaku Uli)

MAY HIS SOUL REST IN PEACE

Challenges Before New Leadership of Southern Governors’ Forum

Kunle Somorin writes about the need for the new leadership of the Southern Governors’ Forum to wake the body up from almost three years of slumber.

Governor Dapo Abiodun of Ogun State commenced the week on a positive note. His fellow governors from the 17 states in Southern Nigeria entrusted him with leadership for the next few years.

Elected as the new chairman of the Southern Governors’ Forum, with Anambra State Governor, Professor Charles Soludo as his deputy, Abiodun’s election within the confines of his own courtyard in Abeokuta is no small achievement. I extend my congratulations to this esteemed leader.

Succeeding a man of remarkable intellect like former Ondo State Governor, Rotimi Akeredolu, and having a world-class economist such as Chukwuma Soludo as his second-in-command, presents challenges beyond mere ceremonial duties. This is a weighty call to service - one that demands more than street-smarts, eloquence, or business acumen. Abiodun, however, recognizes the gravity of the tasks ahead.

In expressing his gratitude to the governors, he vowed to justify their trust.

In his own words: “I want to thank all the Governors for convening in Abeokuta today for our first meeting in approximately three years. This gathering underscores our commitment and determination to ensure that the Southern States occupy their rightful place… I also express gratitude for the confidence placed in myself and Professor Soludo, and I pledge that we will prove worthy of this trust.”

The fact that the governors conducted their meeting behind closed doors - with 13 sitting governors and three represented by their deputies - highlights why the five executive hours should be a topic of public discourse. Abiodun and Soludo inherit a comatose Southern Governors’ Forum, which, despite its noble founding purpose in 2000 - to foster regional cooperation and unity among the 17 southern states in Nigeriahas become a cacophony of voices. Initially formed to coordinate the fight for resource control, advocate for devolution of powers, and address the onshore/ offshore dichotomy, it now grapples with duplicity, treachery, and undermining of its core ethos due to political expediency. These internal challenges weaken the collective bargaining power of the forum.

Consider the case of former Governor Ifeanyi Okowa, who initially championed the SGF’s resolution demanding a Southern presidency in 2023, when he hosted their meeting two years earlier. Against the Asaba Declaration, the resolution he personally read and became the most vociferous advocate, he later switched allegiances, becoming the running mate to former Vice President Atiku Abubakar - a northerner - thereby contradicting his earlier stance.

Okowa’s reversal has been perceived as a betrayal by his fellow Southern governors, who once regarded him as a crucial ally in their pursuit of power-sharing. His shift appears driven by political expediency, prioritising his own relevance over the collective interest. That is the SGF that has been thrust on the slender shoulder

of the gangling businessman-turned-politician.

The SGF not only faces ineffectiveness in addressing regional issues, including insecurity and economic development, but also lacks cohesion and consistency in common things like meetings and decisions. Having its last meeting convened over three years ago reveals internal political differences and rivalries among member states. Enforcing agreements, such as the ban on open grazing, remains a challenge. Additionally, limited engagement with other regional bodies like the Northern Governors’ Forum and the federal government underscores the need for Abiodun and Soludo to find solutions. The hiatus can be seen in the absence of Rivers state governor, Siminalaye Fubara and having their meeting on the day the North Western Governors’ Forum had their own meeting on a disparate agenda are more than meet the eyes occurrences.

For me, the most pressing challenges confronting Governor Abiodun’s Southern Governors’ Forum at the time of AbiodunSoludo’s election should be the minimum wage question and the legal action instituted against state governors regarding local government autonomy. The longstanding dispute between the two tiers of government pertains to the allocation and control of funds designated for local governments, which has sparked intense controversy.

In accordance with the constitution, local governments are entitled to a degree of autonomy in their administration and finances, distinct from state governments. However, this has not been consistently observed, as governors have persistently sought to exert control over this tier of government, often to the dismay of advocates for democratic and federal principles.

In some instances, elected officials have been

supplanted by caretaker committees, further exacerbating the issue. Governors have been accused of infringing upon local government autonomy, misappropriating funds intended for development projects, and abusing their power, to the extent that some have concluded that that tier of government is dead.

In response, the Federal Government feels legal action is the propitious path to thread in order to enforce compliance with constitutional provisions and prevent further abuses. The governors have offered their defence, but the Supreme Court will ultimately adjudicate the matter.

The significance of local government autonomy in ensuring effective governance, development, and service delivery at the grassroots level is unequivocal. By pursuing legal action, the Federal Government seeks to promote transparency, accountability, and good governance practices in Nigeria’s local government system. The manner in which the SGF under Governor Abiodun addresses this issue will indelibly mark his legacy. He will also be subjected to scrutiny from the court of public opinion and the weight of moral accountability of workers’ welfare package.

Nigeria, a nation blessed with abundant human and natural resources, has long grappled with governance challenges and one of the most critical issues facing the country is the failure of governors to effectively govern their states and drive meaningful development.

The SGF, established to foster collaboration and synergy among governors from the southern region, has failed to meet expectations. Governors have been accused of misappropriating state funds for personal gain, leading to a lack of transparency and accountability in government. Even when all of them will vow with their parent graves not many citizens are pacified by their alibi.

This has hindered development in various states, as funds intended for infrastructural development, healthcare, and education have been diverted at the discretion of the Governors, who claimed they augment federal allocation to LGAs to ensure their survival.

Whatever the decisions of the governors may be, one undisputable platform to stamp his name in gold, after his tenure is for Governor Abiodun to initiate and institutionalise a Governors’ peer review mechanism. This is a vital component of good governance, ensuring accountability, transparency, and informed decision-making. Through regular review and feedback, governors can learn from each other’s experiences, adopt best practices, and hold each other accountable. This fosters a culture of responsibility, transparency, and trust, leading to more effective collaboration and better outcomes for citizens.

Furthermore, governors have demonstrated a lack of political will to implement meaningful reforms, prioritising the maintenance of their power and influence over policies that benefit the people. This has resulted in stagnation in key sectors such as healthcare, education, and agriculture. The SGF has also failed to effectively address regional challenges, hindered by infighting and a lack of consensus on key issues.

Besides the five-point agenda that Governor Abiodun set, to address these failures, concerted efforts are necessary to promote transparency and accountability in governance, renew focus on policy implementation and reform, and foster unity and collaboration among governors. After all, these are the services they were voted into offices for.

Whatever the decisions of the governors may be, one undisputable platform to stamp his name in gold, after his tenure is for Governor Abiodun to initiate and institutionalise a Governors’ peer review mechanism. This is a vital component of good governance, ensuring accountability, transparency, and informed decision-making. Through regular review and feedback, governors can learn from each other’s experiences, adopt best practices, and hold each other accountable. This fosters a culture of responsibility, transparency, and trust, leading to more effective collaboration and better outcomes for citizens. By sharing knowledge and experiences, governors can develop innovative solutions to common challenges, improving governance and enhancing the quality of life for citizens. Peer review also promotes consensus and cooperation among governors, facilitating collective action and more effective problem-solving.

Ultimately, embracing peer review enables governors to provide more effective governance, leading to a brighter future for all. By recognizing the value of peer review, governors can unlock its potential, driving progress and improvement in governance. Through this collaborative approach, governors can ensure that citizens receive the best possible service, cementing trust and confidence in government. By this approach, the SGF can redeem itself and drive meaningful progress in Nigeria. Undoubtedly, this honour bestowed on my governor is well-deserved, but the true test lies in transforming the fortunes and reputation of the Southern Governors’ Forum. Governor Abiodun must demonstrate exceptional leadership, vision, and dedication to the progress of our great nation. His developmental paradigm should be the touchstone for others to follow.

While the people of Ogun State are thrilled to see their governor assume this critical role, which will indubitably showcase his administrative sagacity and competence to foster unity among his peers, they also expect him to uphold the Ogun standard of excellence in promoting harmonious relationships between states, driving economic growth, and addressing the pressing challenges facing our country. That’s my take about the mandate the other 16 southern governors gave my governor!

• Somorin writes from Abeokuta

Abiodun

Soludo

How Access Bank is Promoting True African Identity

In commemoration of the 2024 Africa Day Celebration, Sunday Ehigiator writes on how Access Bank Plc, leading pan-African financial institution, stands at the forefront of promoting true African identity across the continent

Access Bank Staff all Dressed in African Attire

Africa Day (formerly African Freedom Day and African Liberation Day) is the annual commemoration of the foundation of the Organisation of African Unity (OAU) on May 25, 1963.

It is usually celebrated in various countries on the African continent as well as around the world. The organisation was replaced by the African Union (AU) on July 9, 2002, but the holiday continues to be celebrated on May 25 of every year.

Each year, the AU adopts a theme to highlight a particular problem the continent faces and work together towards a solution. The theme for the year 2024 is ‘Education Fit for the 21st Century: Building resilient education systems for increased access to inclusive, lifelong, quality and relevant learning in Africa’.

The education theme underscores the importance of education for the continent, especially as a catalyst for growth and socioeconomic transformation. The theme also aligns well with the aspirations of African Agenda 2063, and one of the core pillars of Access Bank’s social responsibility.

THE ACCESS STRIDES

In furtherance of its commitment to education, Access Bank has recently made a very significant investment in African education, empowering over 90,000 children across 20 states in Nigeria and five other African countries with financial literacy skills, comprehensive training, and promoting early savings habits, demonstrating its commitment to financial inclusion and securing a brighter future for the next generation.

Before his demise, Africa’s great, and one of the founders of the bank, Herbert Wigwe, made a foray into education, with a substantial $500million investment in a private university.

Similarly, the bank in 2019, joined forces with the United Nations Children’s Education Fund (UNICEF) and Fifth Chukker to bolster the educational sector through enhanced funding.

With the ultimate goal to revitalise and fortify the educational system, increase access to formal education and reduce child delinquency, Access Bank raised funds to invest in school infrastructures, providing facilities and teaching materials, and constructing new schools in various rural communities.

This is not to mention the bank’s investment in promoting Africa’s culture with investment in projects like the Access Bank ART X Prize, an annual art prize which honours and rewards outstanding African artists, fostering the growth and recognition of African art on a global stage.

The bank also supports African fashion through the Access Bank Lagos Fashion Week,

an event that showcases the talent of African fashion designers and highlights the continent’s unique style to the world. These initiatives not only celebrate African creativity, but also enhance its visibility worldwide.

Access Bank’s commitment extends beyond the arts to the economic empowerment of Africans. The Access Bank SME programmes provide crucial financial support and mentorship to small businesses, fostering entrepreneurship and innovation.

In the agricultural sector, the bank’s programmes offer financial assistance and technical support to farmers, promoting sustainable agricultural practices and improving livelihoods. These initiatives are pivotal in driving economic development and reducing poverty across the African continent.

PROMOTING OF AFRICAN IDENTITY

The bank’s dedication to promoting African identity is also evident in its branding and marketing efforts. Access Bank’s investment in sports with the annual Lagos Marathon, featuring African athletes from various African countries also symbolises the rich promotion of Africa’s cultural identity.

The bank’s marketing campaigns that incorporate African music and art further reinforce the bank’s commitment to celebrating and promoting African identity globally.

AFRICA’S DAY CELEBRATION WITHIN ACCESS

In a statement released by the bank in commemoration of the Africa Day Celebration, the bank said, “this year’s theme is a poignant reminder of Africa’s diversity and the need to address the educational challenges faced across the continent.

“Africa is a vast and complex continent of over 1.2 billion people speaking more than 3,000 languages across 54 countries. Despite shared challenges, each nation contributes uniquely to the continent’s rich cultural and historical mosaic.

“Unfortunately, education remains a significant hurdle. According to UNESCO and the African Union, over a quarter of school-age children in Africa were out of school in 2023, and 90 per cent of children were unable to read or write by age ten. This stark reality underscores the need for urgent educational reforms to equip future generations.

“In alignment with this educational drive, Access Holdings will once again

host the Access Bank/UNICEF Charity Shield Polo Tournament starting from the Children’s Day Anniversary on May 27, 2024, in Kaduna.

“This event, which will culminate at the Fifth Chukker Polo & Country Club on June 9, will bring together over 150 school pupils and their teachers for a day filled with sports, art activities, and messages promoting child welfare, such as ‘Stop Child Abuse’ and ‘Childhood Isn’t Meant to Be a Nightmare’.

“As the largest charity polo tournament in Africa, this event highlights Access Bank’s commitment to supporting underprivileged children, having donated over N700 million towards building schools and providing social amenities for surrounding communities in the past seven years.

“Beyond education, there are numerous aspects of African heritage and achievements that deserve celebration. In Angola, known for its vast oil reserves, Angola is also home to the ancient Tchitundo-Huluvilo Caves, a significant cultural landmark showcasing prehistoric art.

“In Botswana, celebrated for its stable democracy established by Sir Seretse Khama, Botswana is also renowned for producing world-class athletes like Amantle Montsho, a former world champion sprinter.

“In Cameroon, home to the towering Mount Cameroon and the legendary musician Manu Dibango, Cameroon has made significant contributions to global music and boasts rich natural beauty.

“In Democratic Republic of Congo (DRC), known for its rich copper reserves and the majestic Congo River, the DRC is also the birthplace of Patrice Lumumba, a pivotal figure in Africa’s fight for independence.

“In Gambia, famous for its beautiful beaches and vibrant culture, Gambia is also making strides in education and tourism, becoming a notable destination in West Africa.

“In Ghana, a beacon of democracy and economic growth in West Africa, Ghana is also celebrated for its rich history, including the Ashanti Kingdom and significant cultural festivals.

“In Guinea, with its rich mineral resources, particularly bauxite, Guinea is also known for its vibrant music and dance traditions that play a crucial role in cultural identity.

“In Kenya, renowned for its breathtaking landscapes and wildlife, Kenya is a leader in environmental conservation and home to world-renowned long-distance runners.

“In Mozambique, known for its

stunning coastline and rich cultural heritage, Mozambique is also recognised for its vibrant arts scene, including music and dance.

“In Nigeria, Africa’s most populous nation, Nigeria is celebrated for its diverse cultures, Nollywood film industry, and significant contributions to literature and music, including figures like Chinua Achebe and Fela Kuti. Nigeria is also home to Dangote Petroleum Refinery, the continent’s largest petroleum refinery.

“In Rwanda, a symbol of resilience and progress, Rwanda has made remarkable strides in economic development and technological innovation, becoming a model for other African nations.

“In Sierra Leone, known for its rich history and natural beauty, Sierra Leone is also making progress in education and healthcare, contributing to a brighter future for its citizens.

“In South Africa, famous for its stunning landscapes and diverse cultures, South Africa is a global leader in mining and a symbol of freedom and reconciliation, epitomised by Nelson Mandela.

“In Zambia, renowned for its spectacular Victoria Falls, Zambia is also making significant strides in economic development and conservation efforts.

“Access Holdings is proud to operate in these African nations contributing uniquely to the continent’s narrative, from historical landmarks to modern achievements in various fields.

“As we continue to consolidate the discourse around the 2024 Africa Day theme, the Group calls on Africans to unite, invest in our incredible human resource even as we work to take our rightful place on the table of deliberations of global significance.”

CONCLUSION

Access Bank’s multifaceted approach underscores its significant role in fostering African identity. The bank’s initiatives in the arts, fashion, entrepreneurship, sports, and agriculture collectively contribute to a broader recognition and appreciation of African culture and heritage.

These efforts also align with the bank’s vision of driving economic growth and improving the quality of life across Africa.

As we continue to celebrate Africa Day, it is important to acknowledge the contributions of Access Bank and similar organisations dedicated to promoting African culture and identity. Their efforts not only celebrate Africa’s rich heritage, but also pave the way for a brighter and more inclusive future.

Access Bank’s initiatives exemplify how corporate responsibility can intersect with cultural promotion and economic development, creating a positive and lasting impact on the continent.

It is essential to keep our hopes alive, writes RONKE BELLO

THE CURRENCY OF HOPE (4)

It is so relieving that the much anticipated first year anniversary of the Tinubu administration has come and gone. The event, happening just a few days apart from the Democracy Day Celebration made it more festive. Equally, the very present leadership style of President Tinubu rose up to the occasions that indeed in the realm of leadership, Napoleon Bonaparte's famous words, "Leaders are dealers in hope," remain as relevant as ever.

This is much so because all leaders that deliberately aim to succeed understand that instilling hope continually in the people consequently leads to increased motivation, faith, a call to duty and participation in their country’s growth and development. A larger part of the Presidential team also used the occasion to attempt to renew the hope of the masses in areas of work being done towards fast tracking the economy, etc.

A very robust and all inclusive MinisterialBriefing was well covered by most Nigerian news outlets unfortunately watched majorly by the elites who had alternate power supplies. The matter of continuous blackout in most Nigerian cities, town and villages and how it hampers major information dissemination by government in today’s supersonic and high tech world is an issue for another day.

Impressive outings nevertheless which would have been an all round success if only these laudable wins and projections were supported with such wins at the sub nationals and by the legislative arm whose now seemingly aborted “Constituency Briefings” were so robust, rich and impactful at the states and local governments levels in the early years of this 4th Republic.

Some of these laudable wins, actions and policies that have been started were well established in my Pre- First Year Anniversary publication “The Currency of Hope 3”.

I guess these articles, having served as a member of the Tinubu/Shettima Campaign team and most importantly as a participant in various duties in and on behalf of Nigeria for few decades now caught the attention of four Nigerian huge and well established Television Organizations that have both local and international mileages: The NTA, AriseTv, TVC and The AIT.

I found myself on all four in a space of a few days and the panel discussions or interviews were one and same: How far with the “candidate” now government you marketed to Nigerians? Like many we marketed these statesmen on conviction and that conviction has not changed that President Tinubu means well for Project Nigeria and will (with the help of his privileged team ) not drop the ball!

Though many can’t see this promised egalitarian society when it is hard to survive each day especially in the light of the chock - holding prices of food items and healthcare which are directly tied to life itself. In fact on one of the platforms a caller reminded us that “even spiritual fasting has a timeline and deadline”. Besides this is a bias that has gone viral that Tinubu government will be a ‘Lagos for Lagos Affairs’ when it comes to appointments and benefits. In addressing this, we

will have to keep faith with President Tinubu as a Patriot, Elder Statesman and Nationalist who has promised a fair reward system.

Basically, what are the timelines, milestones and mileages for our renewed hope journey? Yes, the people keeping faith read the government policy thrusts and are excited by some of them, but the majority of the people seem lost in their thoughts when they weigh their present day living conditions viz- a- viz the laudable agenda. Though good and sustainable leadership takes time to institutionalize, the reality is the citizens’ hope also dwindles when they consider such hope as farfetched. A case of “Hope delayed makes the heart sick”. Owing to this, the grassroots seem cut off from governance and that exactly is where the people (the true measurement of Nigerians) are. It is reassuring that the People’s President himself at an event alluded to this by saying: “When we want the votes, we go to the locals; when we get the votes, we move to and focus on Abuja,” -President Bola Ahmed Tinubu.30th May 2024, Abuja.

As matter stands today, the hardest part is an attempt to explain to, or refocus the thinking of the people at the grassroots to focus more and demand qualitative leadership from their local government bosses and their Governors. The fixation on Abuja , the Federal team and indeed the President is unequivocally large. Many will readily quote the Federal Government Budget than the states or local governments’ own. It seems indeed that “all rises and falls on Federal leadership! It is however a great thing to note that the third arm of government i.e the Judiciary is expected to soon assist in interpreting some laws especially as they affect the autonomy of the local governments.

The Tinubu’s first year anniversary was met with potpourri reactions of some sort. While some said the not too new government was doing fairly well, some ascribed its challenges and rather bumpy ride thus far to the issues inherited. Others could not just see that tiny light that is showing through our telescope that indeed there will be light at the end of the tunnel. Some others pointblank have written off our renewed hope agenda and can’t wait for the next two years to hit the streets campaigning and preparing for the next elections.

As obvious, other issues on the citizens/leaders table range from security to infrastructure and the “Japa syndrome “ that has seen what can be described as a huge generation’s belief that in a sense even if hurriedly with little research anywhere on the surface of the earth is better than Nigeria.

My outings on these platforms received some pats and some hard knocks. These are all welcomed for our task is to keep listening and engaging our people at all levels. After all, as Woodrow Wilson put it, “The Leader’s ear must ring with the voices of the people”. President Tinubu has re-emphasized this continually that he hears the people loud and clear! Let’s keep faith with him.

As patriots it is a matter of duty to keep our hopes alive. As members of the renewed hope team we owe the people those deliverables as promised. Not necessarily because another election will soon come and our party will have to win the hearts and votes of the people but because Nigeria should work and become greater in our own time so that history when written will be kind to us.

A major take away from the rare and privileged outings and interactions with Nigerians( home and Diaspora ) to which I am most humbled is the “Need For Speed “ in actualizing the good words and intents of this administration as many refused to buy the line that one year was relatively too short to write off the administration.

Bello, (PhD.), academic, publicist, policy analyst and author writes from Abuja

Ministers trade words over ownership of AI implementation platform,writes SONNY ARAGBA-AKPORE

MINISTERS AT WAR

The proposed implementation strategy and platform to grow Artificial Intelligence (AI) is now a source of disagreement between immediate past Communications & Digital Economy Minister,Isa Pantami and his successor ,Bosun Tijani.

When he spoke at the end of a four-day National Artificial Intelligence Strategy (NAIS) workshop hosted recently,Tijani said the workshop besides being a wake- up call,was designed to formulate a strategy on addressing the needs of Nigerian citizens and communities to look ahead to the beauty and importance of AI.

While stating the benefits of adopting cutting-edge technologies such as AI “in raising the productivity of users for our collective prosperity,”the Minister noted the increased attention on AI across the world and growth in investments in the technology in Nigeria saying: “Over 1 Petabyte of storage is already being allocated to AI projects in Nigeria by Galaxy Backbone Limited. And the Pilot Compute Programme that we are undertaking, which is seeing 21st Century Technologies invest over $2 million in Graphics Processing Unit (GPU), is also going to put us in a position to start building and narrating the story for why we need to invest in our computing power as a nation.”

To fast track the adoption and implementation of the AI,the minister announced the relaunch of the National Centre for Artificial Intelligence & Robotics (NCAIR) saying:“The relaunch of new and improved capacity at the National Centre for Al and Robotics (NCAIR) is to better fulfil its mandate” adding:“the Centre is a special purpose vehicle created to promote research and development on emerging technologies and their practical application in the areas of Nigerian national interest. As a digital innovation and research facility, NCAIR focuses on Al, Robotics and Drones, Internet of Things (loT), and other emerging technologies, aimed at transforming the Nigerian digital economy”.

But his immediate predecessor,Isa Pantami disagrees strongly saying in a tweet that it was unnecessary for Tijani to relaunch a project(NCAIR) that he had started followed by a proper launch done by President Muhammadu Buhari and wondered why a relaunch.

In what looked like jostling for ownership,Pantami said that: “The National Centre for Artificial Intelligence and Robotics has been built and commissioned in November 2020, almost four years ago.

“The first of its kind in Africa. It has been very effective, and thousands of Nigerians have been trained and trained. Legacy is achieved, not claimed.”

Tijani thinks differently saying the relaunch has multiple deliverables including but not limited to the AI Collective:“which is a community of practice collaborating towards accelerating the nation’s collective prosperity through an inclusive Al Ecosystem. The Collective will harness the power of Al to drive economic prosperity, accelerate innovation and social development, and position Nigeria as a leading force in AI for good globally.”

Tijani explained that“We need to make sure that as a nation, we are well structured to govern this (Artificial Intelligence) technology which is special.

AI by nature, is a tool to support productivity across different sectors, and Nigeria is a country that has always talked about diversification of our economy, so this is a unique opportunity for us to allow a technology that can help us to raise the level of productivity in agriculture, public health, education and many others, to the level that we truly want it to be, and that is what we are going to do”.

The AI Strategy he explained further is what the country needs now adding “Nigeria needs the appropriate policies to government for the deployment and use of AI at the Federal level and at subnational levels.”He highlighted the need to build platforms that can aid and support those who want to innovate so that they can thrive.

The NAIS workshop brought together over 120 Artificial Intelligence researchers and practitioners, technology companies, civil societies, and other groups from across the world to co-create a comprehensive national AI strategy. Outcomes from the workshop include a draft national AI strategy document defining the strategic imperatives, policies, investments, implementation road map, governance structures, and necessary steps to catalyse Nigeria into an AIdriven economy.

It is not clear what the quarrel is between the two officials.

If one says he launched it and the other relaunched it,are both not working for Nigeria?

It is not out of place to assume that one is weighed down by “ownership mentality“and the other by “self centredness” and both are Nigerian syndromes.

Both men are self serving and that is the tragedy of lack of interest in service for humanity.

At the launch of NCAIR on November 13,2020,Pantami said “NCAIR will serve as a leading hub of innovation, research and development, knowledge transfer, and training in the areas of Artificial Intelligence, Robotics and other emerging technologies.

“Our adoption of regulatory sandbox frameworks for testing technology in a controlled environment will enable the Center accelerate the progress we are making in the development of our digital economy,” he said.

Pantami claimed then that the Centre was fully equipped with a digital innovation Lab, which will serve as a one-stop shop for digital innovation support; a Makerspace and Fabrication Lab (Fab Lab) Infrastructure that will support InnovationDriven Enterprise (IDEs) for potential entrepreneurs to convert their ideas into products and services; Printed Circuit Board Facilities; 3D Printer; Co-working space for startups, and training facilities.

At NCAIR,s launch in November 2020,Pantami explained that “Artificial Intelligence is the refinery of the digital economy while Robotics is very useful in supporting companies in carrying out their repetitive tasks.

“These are two very important emerging technologies that will shape the face of future technologies and we have decided to be proactive to enable us to play a key role in how these technologies evolve.

“The Fourth Industrial Revolution, fuelled by Big Data, propelled by robust computing capacity, advanced software and Artificial Intelligence is ushering new ways of living, well-being, learning, travelling and working.”

Pantami had also said that the centre would serve as a leading hub of innovation, research and development, knowledge transfer, and training in the areas of Artificial Intelligence, Robotics and other emerging technologies.

Aragba-Akpore is a member of THISDAY Editorial Board

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

HELPING THOSE ADDICTED TO DRUGS

All the critical stakeholders should do more to stem the drug menace

As drug abuse and illicit trafficking become more prevalent in the country, today’s ceremony is important, even when many may not pay attention in Nigeria. In 1987, the International Conference on Drug Abuse and Illicit Trafficking recommended a day to observe the importance of the battle against drugs. They chose June 26 as the date to commemorate the dismantling of the opium trade in Guangdong in 1839. Some of the measures recommended by the United Nations Office on Drugs and Crime to mark this year’s occasion include educating children and other young people about the dangers of drugs, donating to an organization that raises awareness of addiction and reaching out to people within our community who are affected by drug addiction.

As countries all over the world mark the 2024 International Day against Drug Abuse and Illicit Trafficking, stakeholders in Nigeria must pay more attention to the consequences of ignoring this menace. Hard drugs, ranging from cannabis – often called Indian Hemp - to cocaine, heroin and amphetamines–are increasingly available on the street and abused by both the young and the old across the country. These are drugs that affect behaviour, mood, thoughts, and perception. Their abuse has also become a serious health challenge for the country. We therefore appeal to our regulatory authorities to help in tackling this menace that has implications both for national security and the health of our people.

of Tramadol by many of our young people may lead to intoxication like other opioid analgesics with the consequence of the breakdown of central nervous system (CNS), depression, coma, cardiovascular collapse, seizures, and respiratory depression up to a respiratory arrest.

Hard drugs are essentially poisonous and cause serious problems for the user and the society at large. Statistics are hard to come by but there is a correlation between the abuse of drugs and organised crime. Indeed, many of the audacious crimes including vicious robberies and murders, raiding of banks, prisons, churches and kidnappings, are said to be aided by drugs. Many homes, families, relationships and careers have been shattered by those who find it difficult to wean themselves of the stuff.

There is a need to review our value system, particularly at home and in schools. Parents have the obligation to discreetly vet the kind of company their children keep as a safeguard from being introduced to drugs and crimes

T H I S D AY

EDITOR SHAKA MOMODU

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU

CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI

EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

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

Not too long ago, the National Drug Law Enforcement Agency (NDLEA), the National Agency for Food and Drug Administration and Control (NAFDAC) as well as the United Nations Office on Drugs and Crime (UNODC) called for the strengthening of legislations and an aggressive public education in the war against illicit drugs in the country. The World Health Organization (WHO) has also repeatedly warned that the growing abuse

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, 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

Nigeria is one of the largest growers of cannabis in the West African subregion. And because the weed is grown locally, it is easily available, cheap and therefore the most abused of the illegal drugs in the country. Hitherto, it used to be smoked in dark street corners and hide-outs. Not any more as the habit seems to be spreading, particularly among the youths who openly wrap the substance, sometimes called “pot” and puff away, anywhere – at car wash spots, at parks, on the street, to get “stoned” and sometimes with even law enforcement agents looking away.

Tackling the problem is a task for everyone. The Standard Organisation of Nigeria (SON) must be diligent in regulatory compliance while the Nigeria Customs Service (NSC) that is obsessed with generating revenue should be more proactive in checkmating the activities of importers of these drugs into the country. There is also a need to review our value system, particularly at home and in schools. Parents have the obligation to discreetly vet the kind of company their children keep as a safeguard from being introduced to drugs and crimes. Over and above all, prevention remains the best cure.

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.

SOKOTO STATE GOVT AND THE SULTAN

This is to express concern and equally condemn the move by the Sokoto State government to also depose the Sultan of Sokoto, Muhammad Sa’d Abubakar. after dethroning 15 traditional rulers.

Sokoto State Governor, Ahmed Aliyu, should reject any thought of deposition of our Sultan, who is also the President General of the Nigerian Supreme Council for Islamic Affairs (NSCIA).

The Sultan’s stool is not only a religious one, but steeped in tradition and being the spiritual head of all Nigerian Muslims, his jurisdiction goes beyond Sokoto because it covers the whole of Nigeria and even beyond.

The Vice President Kashim Shettima has thankfully and timely said that the throne of the Sultan is an institution that must be jealously guarded and protected.

Therefore, any governor who tampers with the stool of the Sultan will reckon with the wrath of Nigerians because the position is a sacred one, very much unlike the political one that the governor occupies - that of four or eight years only and at the mercy of the electorate.

For the avoidance of doubt, this wrong move has immediately dis-

tanced the governor from the people because Sultan Muhammad Sa’d Abubakar’s leadership has warmed him into the hearts of Nigerians.

This is therefore a call for the National Assembly members, including the Presidency, to, as a matter of urgency, move to amend the Nigerian Constitution in such a way that our traditional institutions be only answerable to the Presidency, and not the state governors.

This will make it impossible for any governor to harass or intimidate our revered and age-old traditional institutions, because the power and influence of governors over traditional rulers have become absolute and totalitarian in recent times.

It is arbitrary, irrational and condescending for state governors, using any flimsy excuses, to possess the power to dethrone the leader of all Muslims in Nigeria. So even when the state government says that there is no plot to dethrone the Sultan, the damage has been done already. Enough is enough.

Alh. Abubakar Mohammed, Kubwa, Abuja

Donald Trump has said that he was willing to undergo a test for performance enhancing drugs before the debate. He can save time as there is absolutely no evidence of enhanced performance and if he were taking such drugs he should ask for a refund.

The only performance enhancing drug most of us come into contact with is coffee and it is very addictive as I and billions have found.

Dennis Fitzgerald, Melbourne, Australia

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS

Amid High Interest Rate, Investors Staked

Kayode Tokede

Despite rising inflation, high interest rate and attractive returns on government securities, foreign and domestic investors staked a whooping N2.25 trillion in the Nigerian equities market in five months of 2024.

This represents about 115 per cent increase over the N1.04 trillion recoded in the first five months of 2023.

With inflation reaching its highest peak this year, the Central Bank of Nigeria (CBN) has increased monetary rate to 26.25 per cent, leading to over 20 per cent yield on one-year Nigerian Treasury Bills (NTBs) and the Federal Government of Nigeria (FGN) Bonds.

Recently, THISDAY exclusively reported N15.25 trillion overall gain in market capitalisation in the first five months of 2024 as fundamental companies recorded

an unprecedented growth in stock prices.

The N15.25 trillion market capitalisation growth is coming on the backdrop of rising insecurity, inflation, swing in CBN monetary policy rate, among other macroeconomic challenges and global uncertainty.

Nigeria’s inflation rate, according to the National Bureau of Statistics (NBS), currently stands at 33.95 per cent as of May 2024, driven by money supply, exchange rate, net exports, interest rates, fiscal factors, agro-climatic factor and real output.

The 33.95 per cent inflation rate in Nigeria makes it 17th straight month acceleration, the highest reading since March 1996.

However, the Nigerian Exchange Limited (NGX) report tagged, “Domestic & Foreign Portfolio Participation in Equity Trading,” revealed that domestic investors still dominated the stock

market, transacting about N1.79 trillion from N945.02 billion in five months of 2023.

The report revealed that foreign investors staked about N458.29 billion in five months of 2024 as against N99.34 billion to underline the effect of foreign exchange reforms by this present administration of President Bola Tiinubu.

The NGX report revealed that out of the N2.25 trillion transactions, foreign investors’ contribution increased to 20.37 per cent in five months of 2024 from 9.51per cent in five months of 2023.

The report showed that domestic institutional investors’ contribution shrank to 79.63 per cent in five months of 2024 from 90.49 per cent reported by the Exchange in five months of 2023.

In terms of inflow, foreign investors ‘ stake reached N190.82 billion in five months

of 2024, while outflow increased significantly to N267.47 billion in five months of 2024 from N50.04 billion reported by exchange in five months of 2023.

Analysts said reforms by the Tinubu administration, “are good for the economy and will in the long run good for markets.”

Speaking, the Vice President, Highcap Securities, Mr. David Adnori stated that the foreign exchange policy of this present administration has restored confidence in the stock market with foreign investors’ massive participation.

Adnori stated that the emergence of Tinubu as president further energised the stock market, since market participants had confidence in his ability to rejig the economy and implement economy-friendly policies.

Adnori was also optimistic that the stock market might maintain its positive momentum

in the second quarter of 2024, against the backdrop of banking sector recapitalisation that is expected to trigger investors buying rights issues from listed banks.

“We need foreign investors at the same time, we need local investors to dominate the stock market. The mixed exposure of our local market is creating room for liquidity to flow and price discovery which is what the stock market is all about,” he said.

Analysts at Coronation Asset Management in a report titled, “Investment Opportunities from FX Liberalisation,” said foreign investors were still a significant factor in the Nigerian stock market in 2017; much less now, although recent data showed a net inflow of foreign investment into the stock market.

They noted that the monetary authorities were also able to engineer market interest rates

above the rate of inflation; something to which investors usually respond positively

“This begs one question about the second half of 2023. Which way are interest rates going to move? A liberalised foreign exchange rate points to elevated interest rates in order to make it worthwhile holding money in naira. Fuel subsidy removal, effective May 31, 2023 suggests that cost pressures will push inflation upwards, which also argues for elevated interest rates.

“Against this, the All Progressives Congress (APC) manifesto proposed low interest rates to encourage economic growth. We do not know, at this stage, how the APC administration and the CBN will resolve this critical area of policy.

Nume

A member of the Monetary Policy Committee (MPC), Ms. Lydia Shehu Jafiya, has raised concerns about the current state of domestic financial conditions, which she said are tight and may be exerting upward pressure on public debt service.

Jafiya, in her personal statement at the last MPC meeting, stressed that with such strain, there is a need for continued monetary policy tightening.

She also emphasised the Nigerian

government’s on-going investments in affordable public transportation, infrastructure development, and security improvements to support economic activities.

She further reiterated that the MPC’s strategy of tightening monetary policy, alongside the government’s supportive fiscal measures, aims to create a stable economic environment.

These efforts, she said, are expected to restore investor confidence, alleviate the pressure

on public debt service, and promote sustainable economic growth.

She stated: “There is no gainsaying that domestic financial conditions are tight and may be putting upward pressure on public debt service, however, further tightening of monetary policy will help restore investor confidence and sustainable recovery of output growth.

“While the current specter of inflation is driven by both monetary and structural factors, the Government remains committed to

providing the right fiscal support to address structural side bottlenecks.

For instance, most fiscal revenue collection platforms have been automated to improve revenue generation and facilitation of non-oil export trade.”

She also highlighted that inflation is being driven by both monetary and structural factors.

“In response, the government is implementing robust fiscal measures to address these issues. One significant step is the automation of

fiscal revenue collection platforms, which has substantially improved revenue generation and facilitated non-oil export trade.

“Indeed, revenue generation has witnessed enormous improvement which has enabled the government to meet its debt obligations and thus ease pressure from the tight financial conditions associated with tighter monetary policy. It also continues to invest in affordable public transportation systems, infrastructure development, and

improvement of the security situation to support economic activities, “she said.

Jafiya added: “The economy has sustained a positive growth trajectory since exiting the COVID-19 induced recession.

Even though headline inflation year-on-year, rose at a moderated pace, the significant decline in the month-on-month measure, indicates that the monetary policy tightening of the last two MPC meetings has started to impact on prices.”

ekeghe

The Nigerian Upstream Petroleum Regulatory Commission’s focus on production bonus rather than high signature bonus in Nigeria’s oil block bidding process will no doubt encourage early development of oil and gas fields, Ejiofor Alike writes.

Before now, high signature bonus was the determinant factor in Nigeria’s oil bidding process and this had hindered early development of oil and gas fields. Signature bonus is the single, nonrecoverable lump sum payment made upfront by oil companies to the government for the rights to develop an oil block commercially after successfully winning the asset.

To encourage investors, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has now removed all the entry barriers that impeded the development of oil and gas assets, including the slashing of the signature bonus to only $10 million for deepwater assets and $7 million for shallow water and onshore assets.

The commission’s targets include: To grow oil and gas production, enhance Nigerian Content Development, attract Foreign Direct Investment (FDI), contribute to long-term global energy sufficiency, expand opportunities for gas utilisation, and create employment opportunities and also add value to government and investors.

Reduction of signature bonuses also became necessary in view of the dwindling capital for oil and gas projects caused by the rising Capital Expenditure (CAPEX) being channeled by investors into funding alternative renewables under the global energy transition.

NUPRC’s innovation aligns with trends in other countries, where the governments have drastically reduced signature bonuses to attract investors and financiers.

For instance, in the Middle East and North Africa, signature bonus currently stands at about $10 million while Thailand and Indonesia have about $3 million and N1.5 million, respectively.

With NUPRC’s action, Nigeria’s oil and gas

operating environment is now in alignment with the rest of the world.

Commenting on the development, the Executive Chairman, African Energy Chamber (AEC), NJ Ayuk, said: “Nigeria has established a robust framework that is set to attract foreign exploration companies with modernised fiscals that are competitive for deepwater exploration. We the AEC believe the most lucrative balancing point between creating a welcoming environment for international companies and achieving Nigeria’s own national goals is important.

“Key to this bidding round will be the role of independents and indigenous players when it comes to exploration. The bidding round also paves the way for gas monetisation that will bring amazing benefits to Nigeria and also international markets.”

On his part, the Executive Director, Emmanuel Egbogah Foundation for Petroleum, Prof. Wumi Iledare, said: “A high signature bonus is regressive. It does make a petroleum province with a high signature bonus less attractive.”

Similarly, the National President of the Oil and Gas Service Providers Association of Nigeria (OGSPAN), Mazi Colman Obasi, said: “Investors need a conducive environment to put their money. Once the right environment exists, foreign capital will begin to flow in.”

Speaking at the recent pre-bidding conference in Lagos, the Chief Executive Officer of NUPRC, M. Gbenga Komolafe, said: “A review of Welligence Energy Analytics reports on licensing rounds across the globe, including Brazil, Guyana, Angola, Middle East, North Africa, South East Asia, revealed that the era of huge front-loaded signature bonuses is over.

“Accordingly, Nigeria under President Bola

Tinubu, as the Minister of Petroleum Resources has proactively and intuitively vacated the barrier to entry for investment in exploration blocks being offered, in both the 2022 deep offshore bid round and the 2024 licensing round, in line with international best practices.”

He said: “President Bola Ahmed Tinubu and Minister of Petroleum Resources, have embarked on a transformative agenda that aligns with the most stringent global standards and commitments. The recent Presidential Executive Orders issued in March this year, aimed at improving the efficiency and attractiveness of Nigeria’s oil and gas sector, were generously targeted to incentivize oil and gas development, introduced measures to balance the implementation of Nigerian Oil and Gas Industry Content Development Act, 2010 to ensure that oil and gas development is not hindered by local content bottlenecks. The Executive Orders also include directives on the reduction of contracting costs and timelines to enhance the global competitiveness of our oil and gas industry and achieve a higher rate of return on oil and gas investments.

“Nigeria is endowed with abundance of Crude Oil and Condensate Reserves and of Natural Gas Reserves representing above 30 per cent and 33 per cent, respectively of the entire Oil and Gas reserves in Africa aside from an abundant mix of other renewable energy resources. In a bid to exploit and optimize these abundant Hydrocarbon resources, Section 7(t) of the Petroleum Industry Act (PIA) empowers the NUPRC, the Industry Regulator to conduct bid rounds for the award of PPLs and PMLs under the Act and applicable Regulations.

“It is on this premise that the Federal Government of Nigeria through the NUPRC

Uyi Akpata, the immediate past Country Senior Partner of PwC Nigeria, is set to retire on 30th June 2024. This marks the end of an impressive 40-year career with the Big Four firm. The reach of Uyi’s career extends far beyond the confines of the corporate world.

His transformational leadership left a lasting impact on everyone he encountered, from business leaders like Uju Ifejika, CEO of Brittania-U Nigeria Limited, to young Oweye Dorcas, a pupil of Christ Church Primary School in Sabo Molode, Ijebu-Ode. The scope of Uyi’s influence extends to helping to strengthen various sectors of the Nigerian economy. This is in addition to helping to shape the trajectory of various governments including sub-nationals, and positively influencing business leaders, colleagues, associates, friends, family, students, cricketers, and golfers, to mention but a few.

The Uyi Akpata’s story--one of vision, dedication, and relentless pursuit of making a positive impact-began in May 1964. Born in Benin City, Edo State, Uyi is the son of the late Justice Ephraim Akpata, a highly respected Justice of the Supreme Court and former Chairman of the Independent National Electoral Commission (INEC), and the late Mrs. Patricia Akpata.

Uyi’s formative years were spent in Benin and Warri. He credits his grandmother for instilling strong values in him during his early childhood.

“My dad’s work as a judge required him to travel extensively”, Uyi explained. “So I was privileged to have my grandmother’s discipline and guidance during those formative years. Of course, my mother also played a significant role in shaping my values.”

Reflecting on his family upbringing, which instilled a strong sense of love and discipline, Uyi said: “It was fun—a combination of allowing you to thrive in whatever you want to do. But more importantly, making sure your academics were first on the agenda.”

This strong emphasis on education led him to Federal Government College (FGC) Warri for his A-Levels after completing his O-Levels at Edo College, Benin City. His academic achievements earned him a place at the University of Lagos, where he graduated in 1984 with a Bachelor of Science degree in Accounting.

Becoming an accountant wasn’t a straightforward path for Uyi. His father believed Uyi’s talents were suited for law and actively encouraged him in that direction. After his A-Levels, his father even bought a JAMB form and filled it out for Law, hoping to steer Uyi’s path. However, having grown up witnessing his

influential father’s hard work in the legal field, Uyi knew that wasn’t the life he desired. Inspired by his close friend, His Excellency Akinwunmi Ambode (former governor of Lagos state), Uyi secretly used his own money to purchase another JAMB application, choosing Accounting as his field of study. His professional journey commenced at Coopers and Lybrand, a legacy firm of PwC, in October 1984. And his first assignment was in Kaduna, Nigeria. By 1986, Uyi had become a member of the Institute of Chartered Accountants of

Nigeria (ICAN) and achieved the distinguished honour of being a Fellow of the Institute a few years after.

Uyi Akpata’s experience broadened significantly from 1988 to 1990 when he went on secondment to Liberia. An expat posting, which was previously the preserve of professionals from the UK firm. In Monrovia, he gained valuable exposure working with multinational corporations like Firestone and Mobil, while also building strong relationships. In 1990, Uyi Akpata rose to become a manager. After returning to Nigeria from Liberia just about the time the Civil War began in that country, with plans to seek other foreign engagement, providence will lead him to meeting his wife Obosa Akpata and that played a part in keeping him back in the country. Uyi credits the unwavering support of his wife as arguably the most significant factor, in his words, “behind and beside” his many achievements.

PwC provided Uyi with a platform to develop his well-rounded auditing expertise across various sectors, with a particular focus on the oil and gas industry. Uyi’s natural leadership talents were nurtured, allowing him to support major multinationals like ExxonMobil, Chevron, and ENI, as well as regional firms like Oando and Sahara Group. Through these engagements, Uyi not only made significant contributions to these companies but also played a key role in advancing professional accounting standards in Nigeria.

Uyi’s hard work and leadership skills propelled him through the ranks at PwC Nigeria. His expertise, combined with his leadership qualities, earned him a place on the global PwC oil and gas leadership team. Throughout his rise in the firm, he held several significant leadership roles, including Head of Energy Utilities and Mining Services; Chairman of the Governance Board of PwC Africa Central, playing a key role in negotiations that led to the creation of PwC Africa; and Deputy Country Senior Partner, PwC Nigeria.

On July 1, 2014, Uyi Akpata was named Country Senior Partner for PwC Nigeria and Regional Senior Partner for the West Market Area. This well-deserved appointment was a testament to his dedication and impactful contributions to the growth of the firm. Over the next nine years, Uyi steered the affairs of

recently announced the commencement of the 2024 Licensing Round both in-country and outside the shores of the nation. It would be recalled that we commenced the announcement at the maiden edition of the NEITI Dialogue Session, 2024, where the bid processes were thoroughly interrogated by civil society and the media,” he explained.

According to Komolafe, the commission aims to project and attract robust local and foreign investors who will be participating in the bid exercise.

He also said: “The NUPRC on behalf of the Federal Republic of Nigeria is committed to conducting the licensing round in a fair, competitive and transparent manner and ensuring a level playing field for both indigenous and international investors. Our approach is underpinned by the robust legal framework of the Petroleum Industry Act 2021(PIA), which ensures compliance with best practices to boost investors’ confidence.”

Speaking on the assets being put on offer, Komolafe said: “Each block has been chosen for its potential to bolster our national reserves and stimulate economic vitality.” He reminded bidders that the deadline to register/submit Pre-Qualifications documents is June 25, 2024.

“Interestingly, the Commission, in partnership with its multi-client partners, has acquired more geological data resulting in the identification of more prospective blocks. The newly identified blocks will be added to the pool of blocks originally scheduled for the bid exercise, and their details will be made available on the bid round portal. In addition to these blocks, the seven deep offshore blocks from the 2022 MiniBid Round Exercise which covers an area of approximately 6,700 kilometres in water depths of 1,150m to 3,100metres shall also be concluded along with this Licensing round.”

Uyi Akpata: Leader, Luminary and Legend Unlocking Oil Assets through NUPRC’s Innovations in Bidding Process

PwC Nigeria with stellar leadership, transforming the company into the premier professional services firm in the country.

Uyi Akpata’s distinguished career and life have been marked by numerous accolades and recognitions, reflecting his significant contributions to accounting and beyond. He established the PwC Experience Center Lagos, a hub for innovation and technology, and provided business advisory services to Lagos and Edo States, supporting sustainable policies and projects. As a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), he has contributed to various ICAN initiatives and boards. He instituted a 10-million-naira endowment fund for ICAN students in governance and ethics. He led several communitydriven initiatives, including the private sector-driven Ebola response efforts and charitable programmes. He also inspired PwC’s sponsorship of various initiatives, including the support of chess, journalism, the Youth of Enterprise Internship Programme, Nigeria British Chamber of Commerce Tech Academy, and the GenU Programme with UNICEF. Under his leadership, PwC Nigeria became a leading employer, supporting young professionals’ development and continuous growth. His efforts earned PwC several recognitions, including Jobberman’s 2018 top 10 places to work in Nigeria and the “Best Company for Working Moms” award from Working Moms Africa Magazine.

Acknowledging the support of Tola Ogundipe, his late deputy senior partner, Uyi Akpata, reflected on his tenure’s successes with gratitude. As he looked back on his accomplishments, three things stood out to him: handing over the firm to a capable new leadership, the significant growth in gender diversity, and the exceptional people of PwC.

He recalled a key moment in 2013 when a new joiner asked him a question that stuck with him. During his strategy presentation to the class, he proudly displayed a slide showing the firm’s leadership, but a lady in the audience pointed out the glaring absence of female partners. Though taken aback, Uyi responded diplomatically, highlighting PwC’s commitment to creating opportunities for growth. However, the question lingered in his mind, and he recognised a pressing issue that needed attention.

“I wish I could remember the lady’s name,” Uyi said. “I also wish I could go back and show her our numbers now and thank her for asking that question”.

Akpata

Stakeholders Harp on Child Online Safety, Abuse Reporting

Agnes Ekebuike

Industry stakeholders have stressed the need for child online safety and timely abuse reporting in Nigeria.

The stakeholders reconvened at a Fireside Chat webinar to discuss the implementation and recommendations from last year’s COSPRA 2023 Summit, which focused on digital literacy and child online safety in Nigeria.

The gathering provided an opportunity for speakers to reflect on the progress made and the challenges still facing online safety in Nigeria. Regional Lead for Anglophone West Africa at Paradigm Initiative, Khadija El-Usman, highlighted the fragmented efforts in digital literacy across Nigeria.

She stressed that children often have to source information from multiple channels, which is inefficient and potentially harmful.

Head, Internet Governance Unit, New Media and Information Security Department of the Nigerian Communications Commission (NCC), Dr. Ibiso Kingsley-George, addressed internet accessibility as a right for Nigerian children.

President and CEO of the High Tech Centre for Nigerian Women and Youths, Dr. Hassan Wunmi, emphasised the importance of foundational digital infrastructure in schools. She argued that both public and private schools need robust digital frameworks to enhance literacy, safety, and overall connectivity.

Legal perspectives were

provided by the Co-founder of the Digital Rights Lawyers Initiative, Solomon Okedara, who discussed the critical role of schools and parents in ensuring the online safety of children.

The Head, Department of

Paediatrics from the Federal Medical Centre in Ebute-Metta, Lagos, Dr. Nnenna Ndukwe Kalu, spoke on the necessity of open communication between children and parents. online abuse.

Accion MfB Declares N6.17bn Gross Earnings for 2023FY

Sunday Ehigiator

Accion Microfinance Bank (MfB) has announced a Gross Earnings of N6.17 billion for the year ended December 31, 2023 compared to N6.96 billion recorded in 2022.

The bank also announced a Profit Before Tax of N503.6 million, a decline from the N1.55 billion recorded in 2022.

Similarly, the bank’s deposits and loan portfolio slightly declined to N4.30 billion and N11.69 billion, respectively as against the N4.54 billion and N11.69 billion apiece recorded by the bank in 2022.

The bank’s return on equity was placed at 6.91 per cent, with a loan loss provision of 73.6 per cent.

The bank said it recorded growth in unique saver numbers and accounts, with a 5.6 per cent and 26.2 per cent increase, respectively.

Commenting on the report, the Chairman of the Board of Directors, Christian Ruehmer noted that, “Nigeria’s economy weakened in 2023 as macroeconomic indices worsened. This was demonstrated by several factors, including slower GDP growth, rising inflation, a severe lack of foreign exchange, increasing

debt, instability of the Naira, reduced foreign portfolio investments, and foreign direct investments.

“The effects of the CBN naira redesign at the end of 2022 and the twin policy reforms of removal of PMS subsidies and exchange rate unification of the current government led to increasing inflation and devaluation of the Naira. These reduced disposable incomes for consumers lowered the aggregate demand in the economy and slowed down business activities.

“Even though the country has been dealing with growing price levels since 2022, government policy reforms exacerbated inflation pressures. The painful but necessary reforms pushed more and negatively impacted Nigerians significantly, putting a strain on food prices, with headline and food inflation closing at 28.92 per cent and 33.93 per cent, respectively, as of December 2023.”

He added, “In reaction to the spike in inflation, the CBN tightened financial conditions by hiking the MPR four times, from 16.5 per cent in 2022 to 18.75 per cent in 2023, while also mopping up liquidity in the open market and enabling long-term bill rates to climb.

Dexdee Court Enters Benin Property Market

The real estate market in Benin City has gotten bolder with the introduction of an exquisite property known as the Dexdee Court that is located in the lush landscape of Ekae GRA in the city. Interestingly, the block of flats is located at Dexdee Golf Resort, Ekae, overlooking the 9hole golf course. The Resort is fenced and has a C of O.

The facility is being built offplan and because of the few units available, it’s first come first served, said the Chief Executive Officer of Dexdee Fountains Estates Ltd, Desmond Odiase, owner of the property.

The first phase of the Court has a block of 12 flats of 2 bedrooms and each comes with a living room, two bedrooms, a kitchen and three toilets.

Residents of this fine piece of real estate would have access to the Resort’s golf course, tennis court, bicycle precinct at discounted rates.

The resort is 25 minutes from the Benin City Ring Road/Oba Palace and 22 minutes from the Benin City Airport.

The flats are being developed off plan and completion period is 18 months. Subscribers are required to pay in four installments- 40%; 30%; 20%; and 10% the collection of keys.

Cavalli Begins Construction of The Bellagio Lagos, Luxury Highrise Residential Facility

Bennett Oghifo

Cavalli Group recently began the construction of The Bellagio Lagos, a luxury high-rise residential facility located on Ahmadu Bello Way, Victoria Island, one of the prominent locations of Lagos.

Cavalli Group is a leading player in major sectors of the economy, including Real Estate, Consultancy, Facility Management, Construction, Infrastructure and Energy.

The Bellagio Lagos is conceived as a magnificent development made up of sophisticated apartments meant to redefine luxury living experience.

The Bellagio is made up of three iconic towers of 10 floors each, with each tower offering a seamless fusion of space, comfort, functionality and world class amenities including rooftop helipad, swimming pool, a spa, a 24/7 security surveillance, multisport court, fully equipped gym, and fully fitted kitchens. Other amenities include a 5-star café and restaurant, interior designed by

Roberto Cavalli, custom Italian bathroom design, as well as a panoramic view of the ocean and the city.

Cavali, according to officials, will render the building to the maximum, as it did not overlook any details or spared any quality.

The Bellagio has been described as a powerful statement that will soon grace the Lagos skyline.

At the groundbreaking ceremony, the Group Managing Director of the Cavalli Group, Emmanuel Odemayowa, said the project is divided into two phases. “The first phase, for which the foundation was laid, included The Bellagio Lagos, the residence, also known as ADRAO Tower. It will be situated at the back and will consist of 9 suspended floors. The ground floor will be a recreation area, and the remaining floors will be residential apartments. “The second phase, the main Bellagio, comprising the hotel, apartments, and office spaces, will be situated in front, where our show office is being set up. We will commence that second

part of the project soon,” he said.

“The Bellagio Lagos is a one-of-a-kind development that guarantees its residents worldclass amenities and a perfect balance between serenity and fast-paced urban living. The apartment ranges from the luxury two, three bedrooms to fivebedroom maisonettes. It will house 60 exclusive residences comprising 36 units of two-bedrooms, 18 units of three-bedroom apartments and 6 units of five-bedroom maisonettes, with each apartment offering grand living spaces that are strategically placed in the corners of the residences to maximize multiple panoramic ocean and citywide views”, Odemayowa revealed.

According to Odemayowa, “The Bellagio Lagos is a home for those seeking a new standard of city living, a beautiful place you will love with incomparable views and designed to stand the test of time. The façade exterior of each tower allows for energy efficiency and adaptability to

climate heat conditions. The Bellagio Lagos spares no expenses in the design and provision of topnotch services for occupants to relax and unwind, while having the city at their fingertips.”

He said, “For the smart and discerning investor, The Bellagio presents the perfect investment opportunity, not only due to its prime location and loads of commercial activities within the same vicinity. We all understand what the Bellagio brand stands for; it is a prestigious name. Our goal in Nigeria is to represent this brand and see how much of an impact we can make in our environment, providing value, delivering returns to our investors and partners, and ensuring the enjoyment of those who will live here. Bellagio Lagos, known globally for its hospitality, will feature apartments branded as a hotel. Our vision is to offer our investors and residents a permanent vacation experience in their apartments.”

“Upon completion you are allowed to use your flat for serviced apartment and rake in a minimum of N24 million/ year. Cost of the flat off plan is N56

Fadekemi Ajakaiye

Pumpkin Properties, a Nigerian real estate company, has launched the Rockview Estate in Kaduna State.

Rockview Estate, the company said is “a pocket-friendly, innovative property”, promoted as part of its dedication to providing affordable and accessible properties to investors.

The estate, which is particularly perfect for everyone because of its flexible payment plans, is equally ideal for low income earners who want to become home owners on a pristine landscape that is a match with any property anywhere in the world.

Nestled amidst picturesque landscapes and lush greenery, Pumpkin Rock View represents a visionary fusion of cutting-edge technology and holistic wellness.

Also, sitting on 121 hectares of land and comprising about 2000 units of house types such as (1) 4-bedroom Detached Bungalow and (2) 4-bedroom Detached Duplex with BQ, each plot of land at the

estate measures 450 sqm and sells at very affordable rates. Moreover, the estate comes with several social amenities for all investors such as: Good Road Network; Security; Water; Electricity; Gym; Worship Centers; Clinic; Schools; Shopping Area; Banks; Children Park and Green Area; and Sport Area

The CEO, Pumpkin Properties, Engr. Oladeji Bamidele, said their mission is to make everyone a comfortable home owner. According to him, “Our mission at Pumpkin Property is to make homeownership attainable for everyone, regardless of their financial background.”

He noted that his company is breaking the barriers to real estate by providing estates with affordable payment plans. According to him, “By providing affordable land with flexible payment plans, we are breaking down the barriers to real estate ownership and creating opportunities for smart investors and low-income earners alike.

Gboyega Fatimilehin, the cofounder of Diya, Fatimilehin & Co. has stated that the major problem of Nigeria is lack of development planning.

He said this at a symposium that was held by his friends and associates to mark his 70th birthday. The theme of the symposium, which was held in Lagos recently. was, “Let Us Rebuild: Future Focused Solutions for Economic Growth”. He stated that the government should endeavour to plan effectively and ensure that funds are channelled to appropriate sectors in order to have the desired effect and everyone

will be happy for it. He said the practical pathway to rebuilding is having a diversified income stream that will enrich the economy rather than its dependence on fossil fuels.

He stated that for us to rebuild, we have to go back to the roots, have people with the understanding of development run the economy. ‘We need to work on housing as it employs between 25 -30% of the populace,’ he said. He mentioned that affordable homes is a must as this can only come alive when jobs are created. He also stated that labour is so fluid that it can’t be curtailed except by giving incentives to make

it stay. This can help reduce the ‘japa syndrome’.

Dr. Olusegun Mimiko, the former governor of Ondo State, stated that “the theme is very apt as we are still a poor country with GDP per capita of $1700, the worst among the LMICs.”

He mentioned that the theme emphasises how the economy needs rebuilding which means that there are obvious signs of cracks and imminent collapse.

“One possession that we can convert to assets is our youth population, which is a demographic dividend. We must invest massively and deliberately in the education and skills of our youths in order

for them to fill up the demographic deficit in the Industrial North to be able to control the industry in the next century,’ he said.

“We must address the issue of capacity and character deficit in government at both the political and bureaucratic levels as they’re major deficits that hamper development,” he said.

He mentioned that Investment in agriculture was key. “We must also invest in technology and incentify local professionals and businesses to grow,” he stated.

Other speakers also shared ideas and ensued discussions to help catalyze a transformational rebuild effort across the country.

Fadekemi Ajakaiye

The Managing Director and CEO of Afriland Properties Plc, Uzo Oshogwe, has once again championed the cause of women’s empowerment and inclusion within the real estate sector. Oshogwe reiterated her call recently, at an event organized by Women, Wealth and Real Estate aimed at fostering female empowerment within the industry, during a panel session on “Promoting Women’s Inclusion for Africa’s Collective Prosperity.”

During her address, Oshogwe underscored several critical strategies for advancing women’s roles and success in the real estate industry, beginning with the importance of building robust support networks. She highlighted

the necessity for women to balance their professional and personal lives effectively, stating, “Whether from the home front or the work front, it is essential to have a support system.” This, she emphasized, is crucial for maintaining a healthy work-life balance and achieving professional success.

Oshogwe also spoke passionately about the power of mentorship and professionalism. She urged women to be deliberate in finding mentors and in mentoring others. “Mentorship is a powerful tool for empowering the next generation and creating value and wealth for women in society. Women should view mentorship not just as guidance but as a strategic empowerment tool,” she noted.

Fadekemi Ajakaiye

Bennett Oghifo

Dexdee Court, Benin City

million,” Odiase said.

EDUCATION

Afe Babalola: How ABUAD Sustained Best Nigerian University Position for Three Years

Gbenga Sodeinde in Ado Ekiti

The founder and Chancellor of Afe Babalola University, Ado Ekiti (ABUAD), Aare Afe Babalola (SAN), has revealed how the university has continued to stand out since it was ranked the Best Nigerian University three years ago and is maintaining its status as the Best University in Nigeria for the third time.

ABUAD was the Best Nigerian University in 2022 and 2023, and for the third time, in 2024, it emerged as the first university globally for SDG 7 on Affordable and Clean Energy, Outreach Programmes, with 98 per cent, and Stewardship Programmes, with 98.2 per cent.

Babalola revealed that the university was able to sustain national and global excellence because of the quality of graduates it produced through impactful education and training, which is not only for degrees but also in character and industrious moulding.

The legal icon, and a former two-term prochancellor of the University of Lagos, stated this while briefing journalists on the ranking of the university as number one in the world for Sustainable Development Goal SDG 7 and number one in Nigeria for three consecutive years in 2022, 2023 and 2024, attributed the rise in the ranking of ABUAD.

He attributed the feat to its quality curriculum and stable and predictable academic calendar.

Babalola said, “We are here today to share some good news for the third consecutive year. Part of it is that our 15-year-old university has again been ranked as the number one university in Nigeria and number 142 in education generally in the world. The above notwithstanding, our ranking position has changed significantly. The reason is because this year, our ranking has gone beyond the shores of Nigeria and, now gone global.”

He added, “This result constitutes a challenge to all Nigerians, particularly our universities. We are all aware of the economic doldrum that the country is battling with. I must stress that education is the panacea to all the ignorance,

extremism, poverty, religious bigotry and tribalism among other problems, confronting the country.”

He explained that it “is my conviction that if people can emulate the type of complete and innovative education system, hard work, honesty, and faith exhibited in ABUAD, Nigeria would have been better for it,” encouraging his staff to see “our current ranking as a call to duty, so that

apart from remaining number next year, we will be number one in other areas, and number one globally in everything.”

Corroborating Babalola in an interview, the Vice-Chancellor of ABUAD, Prof. Smaranda Olarinde, commended him for deploying his hard-earned resources in championing the needed revolution in the education sector with the establishment of the university.

Olarinde, who had just clocked their

second year in office as VC after acting for three years, said the institution’s management and staff would continue to justify Babalola’s huge investment by working harder towards making the institution one of the best 100 in the world.

She said it would be a disservice for any higher educational institution, as endowed as the country is, to produce regular graduates.

“In ABUAD, our role in the educational sector in the country and in Africa is to transform the entire educational system. It is the belief of our founder that you do not transform something by doing everything the usual way,” Olarinde stressed. “Olarindeyou can only transform something by doing things the excellent and the uncommon way.

“We at ABUAD have achieved this enviable level of national and global excellence because of the quality of graduates we turn out through impactful education and training, not only for degrees but also in character and industrious moulding.”

She added, “We commenced academic operations at ABUAD approximately 15 years ago. In those short 15 years, we rose from nothing to being continually ranked high by the global body, the Times Higher Education Impact Ranking, and even agencies of government in Nigeria.”

According to her, out of thousands of qualified universities globally, ABUAD has always effectively come ahead of several other universities, both in Africa, Asia, Europe, and the United States. We are just starting. Olarinde pointed out that in a few years, “we shall be talking of ABUAD being in the top 100 universities globally,” vowing not to rest “until we have achieved this goal.”

Olarinde, a former head of Department, of Public International Law at the University of Ibadan, and Dean of Law Faculty at ABUAD, described as a great challenge and unique call to service, her current position as a female Chief Executive Officer of the university, promising to continue to use her wealth of experience to deliver on the responsibilities attached to her office.

MTN Nigeria Hosts High-level Forum to Innovate Digital Education

Funmi Ogundare

Fmi Ogundare Key stakeholders from the public and private sector, academia, government agencies, as well as officials of MTN Nigeria recently converged on Rooftop MTN Plaza, Ikoyi, for a highlevel focused group discussion on education.

It aimed to ensure the co-creation of ideas that would enhance digital learning for pupils.

Speaking with journalists, Aisha Mumuni, Chief Digital Officer of MTN Nigeria, expressed enthusiasm about the engagement, emphasising the need for accountability in

government policy formulation and bridging the gap between the public and private sectors.

She noted, “Engagements like this begin with intention. Nigerians often rely too much on the government, forgetting that it cannot address issues alone. The private sector must ask what we can do and how we can help, aiming to close the divide with our ongoing conversation.”

Mrs. Toyosi Akerele-Ogunsiji, the founder of Passnownow.com and lead consultant of #MTNFGDonED, described education as the epicentre of the development of any country, saying that there is a need for

collaborative efforts from all stakeholders to create value and ensure that there is a solution to the problems affecting learning.

She commended the MTN team for the initiative, saying that digital capacity depends on people’s ability to learn independently.

“With our mobile phones, we want to completely revolutionise how we deliver learning in a seamless way to the Nigerian child. MTN wants to work in the digital space to co-create and transform its approach to delivering education,” she stated.

Dr. Ossom Ossom, Director of Social Mobilisation at the Universal

Basic Education Commission (UBEC), expressed concerns about the disconnect between the public and private sectors. He noted that many Nigerians rely on the government to resolve educational issues. He warned that if parents depend solely on the government for their children’s education, future outcomes may be disappointing.

“If everyone is doing their best, why are we still struggling with education quality and the number of out-of-school children? There is a critical need for this conversation to merge ideas and find effective solutions,” stated Ossom.

He said traditional learning

approaches are ineffective. UBEC has established digital centres nationwide and is ready to partner with stakeholders to enhance its efforts.

“We need a paradigm shift from current practices. The capabilities of phones, data, and other technologies offer significant opportunities to transform our thinking and learning processes,” Ossom stated.

He recalled that the ministry of education, at both federal and state levels, along with SUBEB and faith-based organisations, once successfully operated schools, but government policies have since reduced their effectiveness.

“It’s now imperative to cocreate. The organised private sector and MTN must foster open dialogue to drive essential changes. Otherwise, our future may not be one we can take pride in,” Ossom stressed.

UNICEF Chief Field Officer Celine Lafoucriere highlighted its digital learning solutions, including the Nigeria Learning Passport (NLP), which ensures continuous access to education and has been deployed in 19 states across the country. “There is a plethora of digital solutions available. We need to explore where MTN can partner,” she said.

AISA Restates Commitment to Empowering Students to Attain Full Potential

American International School of Abuja (AISA) has reiterated its commitment to empowering students to reach their full potential both academically and beyond.

The school gave the assurance as it bid farewell to its graduating class of 2024, in a ceremony filled with pride and promise for the future, and amid cheers and applause.

The event was said to be significant, as the institution, a premier co-educational international school in the Federal Capital Territory (FCT) was established 30 years ago.

The ceremony was attended by the families and friends of the graduating students, as well as other distinguished persons, who were received by the Head of School, Greg Hughes, Chair of the Board of Trustees, Ndubisi Anyanwu and other members of the school’s leadership.

A hallmark of AISA’s record of academic excellence is its tradition of facilitating admissions to prestigious universities worldwide.

This year’s cohort is no exception, with students securing coveted spots in renowned institutions across the United States, Canada, the Netherlands,

Spain, Ireland and England.

The graduating class earned notable scholarships to numerous universities, including admissions to Oregon State University, the University of British Columbia, Baylor University, and University College Dublin, among many others.

This underscores AISA’s commitment to nurturing academic excellence and facilitating students’ pathways to success.

While most of the graduates earned their college admissions based on academic merit, this year one of the school’s student-athletes, Agib Hughes, was admitted to

North Carolina A&T University for his sporting prowess, where he will join their NCAA Division One golf programme.

Agib has won golf tournaments in numerous countries and is currently Nigeria’s top-ranked amateur golfer according to the World Amateur Golf Rankings.

One of the prominent guests was USAID Mission Director, Melissa Jones. Her speech was an unforgettable blend of hope and optimism for the future, tinged with the sadness of bidding farewell to such a talented cohort.

“This day is a testament to your hard work and resilience,

and it is also the unwavering support of your families, friends and educators.

“Each one of you has completed a rigorous and internationally recognised curriculum, further developed your skills, expanded your knowledge, and honed your character.

“This moment marks a significant milestone, not just in your academic careers, but it has also laid the foundation for your next chapter…”

She urged the students to be lifelong learners because “the world is constantly changing… Stay curious, seek out new knowledge

and experiences, and never stop growing.”

A notable trend at AISA is the increasing enrollment of students in grades 11 and 12, as families recognize the value of early preparation for tertiary education. By leveraging the school’s resources and guidance programmes, families aim to optimise their children’s chances of securing admissions to prestigious institutions worldwide.

As AISA bids farewell to another cohort of graduates, it expressed pride in their accomplishments and confidence in their ability to thrive in their chosen paths.

James Emejo in Abuja

Babalola

Sokoto University Gets NUC Accreditation for 18 Programmes

The Sokoto State University has secured full accreditation for all 18 undergraduate programmes the institution runs. This development follows the National Universities Commission’s approval conveyed to the university in a letter to the Vice-Chancellor, Prof. Bashir Garba.

According to a release by the university’s Information Officer, Zayyanu Shehu,

the accredited programmes include Computer Science, Biochemistry, Biology, Chemistry, Mathematics, and Microbiology. Others are economics, Political Science, Sociology, Arabic, Hausa, History, and Islamic Studies. The rest are Education Computer Science, Education Mathematics, Education Physics, Education Biology, and Education Chemistry.

Professor Garba expressed the institution’s excitement about the outcomes of the exercise by NUC, saying

that the institution remains committed to excellence towards attaining all NUC requirements for global ranking.

He stressed that scoring full accreditation status for all the programmes presented to the NUC required commitment and dedication.

The vice-chancellor said the institution is ready to invest more time, energy, and resources in the accredited programmes and the 60 other undergraduate and postgraduate courses

that are due for accreditation soon.

”We have really come a long way and are determined towards providing quality education and producing graduates who can compete globally,” Garba said.

He commended Governor Ahmed Aliyu and the university’s founder, Senator Aliyu Magatakarda Wamakko, for their foresight, visionary mind, and support of the institution’s growth while acknowledging the contributions of development

iLift Foundation Inaugurates DLEI to Equip 2,000 Students with Digital, Leadership Skills

Funmi Ogundare

iLift Foundation, a nongovernmental organisation (NGO) dedicated to empowering youth in underserved African communities, has launched its ‘Digital, Leadership, and 21st Century Empowerment Initiative (DLEI)’.

In collaboration with Terra Academy for the Arts (TAFTA) and the Lagos State Ministry of Basic and Secondary Education, this year-long programme aims to equip 2,000 public school students aged 16 and above across four educational districts with essential skills for the digital age.

The districts include Kosofe,

Surulere, Amuwo-Odofin, and Oshodi-Isolo LGAs. The training will commence in July in the Maryland school district.

Mojisola Ojo, Executive Director of the foundation, expressed her enthusiasm about the initiative’s launch in partnership with the Lagos State Ministry of Education and TAFTA. She emphasised the importance of equipping young minds with the necessary skills to thrive in the digital era.

Ojo highlighted that this collaborative effort represents a significant step towards providing the necessary tools, training, and opportunities for success.

“We are committed to continuously supporting these

young individuals, ensuring they can start and upscale their lives and ultimately contribute meaningfully to society,” she stated.

She further noted that the initiative addresses pressing educational and economic challenges youth in underserved communities face. Without timely and effective intervention, many public schools students risk dropping out, falling into multigenerational poverty, and engaging in unlawful behaviour.

Since its inception in 2021, Ojo stated that the iLift Foundation has focused on bridging educational and entrepreneurial gaps for disadvantaged youth, empowering over 3,000 individuals with job-

ready skills, healthcare access and educational opportunities.

She added that the initiative targets the digital divide and gender disparity, equipping both male and female students with the tools needed to transition smoothly from secondary education and reducing the number of youths resorting to street life.

“By the end of the programme, participants are expected to demonstrate proficiency in basic digital skills, including web and graphic design, script writing, and art entrepreneurship. The programme fosters creative expression, leadership skills development, and community engagement.”

Osun Varsity Provost Urges Collaboration to Develop Educational Systems

Yinka Kolawole in Osogbo

PProf. Florence Adeoti Yusuf has called for collaborative efforts to address the challenges confronting educational systems globally.

Yusuf, the provost of the College of Education at Osun State University, said this at the 2024 International Conference on Education, which the college hosted. She stressed the need to bring together stakeholders from diverse backgrounds to facilitate meaningful dialogue and the exchange of ideas and forge partnerships to pave the way for a more sustainable and equitable future for education in Nigeria and globally.

The professor of Guidance and Counselling spoke on the conference theme, ‘Our World is Our Effort: Achieving Sustainable Educational Development through Partnerships’.

The conference, which brought together educators, stakeholders and participants from various parts of Nigeria, provided a platform for educators and stakeholders to share knowledge, ideas, and best practices.

She further emphasised the need to look forward to future collaborations and initiatives that will shape the future of education in Nigeria and beyond.

In his remarks, the ViceChancellor of Osun State University, Prof. Clement Adebooye, said that the theme of the conference was very apt, adding that universities can collaborate with one another to enhance teaching and research outputs and collaborate with industries to produce skilled graduates.

Adebooye was represented by

Prof. Adetunji Lawrence Kehinde Deputy Vice-Chancellor (ARIP).

The lead paper presenter, Dr. Elyse Connors of Western Michigan University, focused on inclusive and sustainable education for blind and visually impaired students.

The keynote speaker, Prof. Olanrewaju Olaniyan, ViceChancellor of Emmanuel Alayande University, Oyo, also emphasised the need for stakeholders to partner with universities to revitalise Nigeria’s educational system.

The second keynote address was delivered by Ms. Nor Nazeranah Haji Omar Din from Nilai University, Malaysia. Her presentation focused on inclusive education, sustainable development goals, and the importance of partnerships in achieving quality education in Nigeria.

The chairman of the occasion

was Osun’s Commissioner for Education, Hon. Adedipo Eluwole, the mother of the day, Osun’s first lady, Chief (Mrs.) Titilola Adeleke, represented by the wife of the Chief of Staff, Dr. (Mrs.) Balikis Akinleye reiterated her commitment and dedication to supporting the growth and development of education.

At the conference, the award of recognition was presented to Senator Dr. Kamorudeen Olalere Oyewumi for his significant contributions to societal growth and his commitment to further support. He was honoured with the distinguished award for Adult Education and Community Development.

He promised to assist the College of Education, Osun State University, sustain adult education and infrastructural development.

partners, particularly the Tertiary Education Trust Fund (TETFund), in transforming the educational landscape in Nigeria.

The NUC accreditation team visited the university between

October and November 2023 to assess the quality and content of 18 of the 78 undergraduate and postgraduate programmes offered by the institution which informed the university’s current accreditation status.

Savannah Launches Environmental Awareness Clubs in Akwa Ibom Secondary Schools

Savannah Energy PLC, the British independent energy company focused on delivering projects that matter, has launched Environmental Awareness Clubs (EAC) in 20 public secondary schools in Akwa Ibom.

The programme aims to inspire the students to make career choices and instil environmental consciousness and career awareness.

The EAC is part of the broader Savannah Energy Education and Internship Training Programme (SEE-IT), which is being executed in collaboration with the Inoyo Toro Foundation, a non-profit educational foundation based in the state.

The programme will feature various educational and practical activities, including career day events for club members, tree planting and environmental awareness walks, radio programmes to discuss topical issues on climate

change, pipeline protection and safety, hydrocarbon and the Akwa Ibom State government ARISE agenda, as well as quiz competitions.

The club activities will commence in June and culminate in the presentation of cash prizes to winners of the quiz competition in August.

The Head of Stakeholder Relations and Regional Manager (Nigeria) of Savannah Energy, Nkoyo Etuk, said, “Education is an important part of Savannah’s sustainability strategy, where our first pillar focuses on promoting socio-economic prosperity within the countries in which we operate. We are optimistic that the Environmental Awareness Clubs will help to improve enlightenment about environmental issues and the solutions, and inspire future leaders.”

MACBAN Urges Fulanis to Embrace Western, Islamic Education

Segun Awofadeji in Bauchi

Fulanis in Nigeria have been challenged to embrace western and Islamic education to make them a people with respect in the face of ethnic profiling.

The National President of Miyyeti Allah Cattle Breeders Association of Nigeria (MACBAN), Baba-Othman Ngelzarma said this while addressing members of the association in Bauchi during the election and inauguration of new leaders.

He was in Bauchi alongside other national officers to supervise the conduct of the state chapter election.

He charged the newly elected state leaders to be united and focused on issues that bring them together rather than divide them.

According to him, “It is time for us to embrace education, enrol our children in schools so that they will get education and become our leaders in the future. Education is the key to development.”

He regretted that Fulanis, especially cattle breeders have been

given bad names in the country, saying that the only way out for them is to be well educated in order to defend the race.

The MACBAN national president stressed that due to modernization and development, the cattle routes and grazing forests have been taken over leaving the Fulani with little or no forest to graze his cattle.

He stressed that there is the need for government to intervene in the crisis and ensure that Fulani cattle breeders have access to grazing forests across the country in order to minimise the herders-farmers clashes.

To lead the association in Bauchi for the next four years is Mohammed Kabir who was unanimously elected as the chairman, while 21 others were elected to support him from across the 20 LGAs of the state.

In his post-election speech, Kabir thanked the members for the confidence reposted in him and others elected assuring them that they will offer a purposeful leadership.

Onuminya Innocent in Sokoto

L-R: Vice-Chancellor and President, Loughborough University, Professor Nick Jennings; Global Engagement Officer - Africa, Florence Mutero; Senior Lecturer, Water and Environmental Engineering and University International Special Envoy to Sub-Saharan Africa, Dr Sola Afolabi; and Dean, School of Architecture, Building and Civil Engineering, Professor Malcolm Cook, at a press meet in Lagos, during their visit to Nigeria

Application Open for Access Bank’s Womenpreneur Pitch-A-Ton Programme

Nume Ekeghe and Oluchi

Chibuzor

In a bid to inspire, connect and empower women, Access Bank has opened the portal for registration for season six of its Womenpreneur Pitch-A-Ton programme.

The program has produced 645 mini-MBA winners across six geo-political zones in Nigeria as well as 10 other African countries, 65 grant winners, and as well as 40 other consolation prize winners from 2019 to 2023.

Speaking at a media parley with journalists in Lagos, the Group Head, Women Banking, Access Bank, Abiodun Olubitan, said 120 finalists would receive free business coaching throughout the period

of the MBA.

She said that the programme was a once-in-a-lifetime opportunity to give women’s businesses the boost it deserves.

According to her, “In Nigeria, 120 women will earn a free mini-MBA certified by the International Finance Corporation. N17.5m will be awarded in business grants to 10 winners, 20 other women will win consolation prizes such as free website development and free promotional materials.

“All 120 finalists will receive free business coaching throughout the period of the MBA as well as close monitoring and evaluation of their business from a certified consultant for the period of 6 months. People should start applying now as entry closes on the 9th

of August 2024.”

Olubitan, however, explained that for businesses not shortlisted for the Mini-MBA, would be automatically included in the Access Banks Womenpreneur community database.

According to her, 20 other women will win consolation prizes such as free website development and free promotional materials.

Responding on the impact of the programme since inception, she acknowledged that the impact has been enormous.

“It has exposed the participating businesses to new and international clientele and markets. We have had participants who had opportunities to launch their businesses in the international market,” she stated.

CEOs, Entrepreneurs Headline Daystar Bootcamp

As part of efforts to support business owners in cushioning the effects of the increasingly challenging economy, Daystar Christian Centre has announced that it is putting together a business boot camp that will provide a significant capacity boost for business owners.

The boot camp, themed, “Blossoming Through Chaotic Times,” is scheduled to be held on Thursday and Friday, June 27 - 28, 2024, at Plot A3C, Ikosi Road, Oregun, Ikeja, Lagos.

The Senior Pastor of the church, Sam Adeyemi, noted that, “We are in dire economic times globally, and these have a harrowing impact on most businesses. For over a decade, Daystar Business Academy (DBA) has empowered countless business owners. Recognising the current economic challenges, we are bringing our DBA alumni, DBC members and entrepreneurs, and business owners from the wider society to this intensive two-day bootcamp.”

common purpose: to be role models for economic and social transformation. Their creed is that business can be a force for good, creating prosperity and opportunity for all.

The Daystar Business Community (DBC), is a vibrant community of faith-driven business leaders united by a

The Head of the Daystar Business Community, Dr Blessing Ayemhere, hinted that “our upcoming business Bootcamp is a unique opportunity designed to equip participants with the tools they need to thrive in today’s complex economic climate. This Bootcamp is designed for both startups and established businesses.”

BudPay to Powering African Businesses with BudPay Business

BudPay, a leading provider of business payment solutions for local and global enterprises in Africa, has reiterated its commitment to connecting African businesses to global opportunities today.

BudPay in a statement said its payment infrastructure is uniquely designed to cater to the constantly evolving needs of the African market has been instrumental in enabling corporates, SMEs, and startups to accept payments in 100-plus countries.

Commenting on the company’s achievements, Wale Hassan, CEO of BudPay, stated, “We are humbled and at the same time proud to have earned the trust of over 20,000 businesses across 3 markets

in the last 2 years. While the payment industry is already quite robust, we identified a distinctive opportunity to redefine the global payments landscape for African businesses. The astounding feedback from our merchants on the business impact of integrating BudPay into their payment systems has been very validating. Despite these milestones, we remain relentless. Our mission is to power global trade and drive economic growth beyond borders.”

“BudPay Business boasts a suite of unique solutions that streamline payment processes and enhance business efficiency. These include Invoicing and Payment Links, which allow businesses to generate and

share digital invoices and secure URLs for customers to make payments online without needing a dedicated e-commerce website. The platform also offers a versatile Payment Gateway/Checkout Modal with various payment options, including Cards, Bank Transfers, USSD, and Mobile Money. Additionally, BudPay Business provides team collaboration features enabling businesses to add team members to delegate payment operations effortlessly.

BudPay is committed to global best practices for the security and compliance of its infrastructure. This has been a key factor in the success of its operations over the years.

2024FY: Neimeth Targets 127.7% Growth in Turnover

Kayode Tokede

Neimeth International Pharmaceuticals Plc said it aimed to grow its turnover by more than 127.7 per cent in the 2024 financial year compared to what it made in 2023. The company plans to generate sales of N5 billion in the current business year against a turnover of N2.2 billion it made in the prior year, from this quantum leap the company hopes to make a profit of N211million.

The Managing Director/Chief Executive Officer of Neimeth International Pharmaceuticals, Pharm. Valentine Okelu, disclosed this at the 65th Annual General Meeting of the company held in Lagos. He added that

these ambitious targets signal a bold step towards solidifying the company’s position as a leading healthcare provider in Africa.

“We have planned to move the company on a severe growth trajectory. For instance, for 2024, we plan to deliver N5billion revenue. We are looking at delivering N211million as profit and if we stretch it up to 2028 to 2029, we are projecting N700million in profits,” he stated. Okelu remarked that despite facing challenges related to the operating environment especially of 2023 business year, Neimeth remained undeterred in its pursuit of growth.

He said the company is growing its production capacity to effectively meet demand of the market. Neimeth he said recently

undertook a facility upgrade of its Oregun, Lagos factory increasing installed capacity by about 300 per cent.

“After our factory upgrade we are now working on capacity upgrade to overcome the challenges of meeting customer demands,” he explained. In line with this positive projection the company recorded a turnover of N771million for the three months period ended 31st December 2023.

This represents the highest sales revenue achieved in a single quarter for the year and a growth of 39 per cent over quarter three (Q3). Compared to the earlier quarters of the year, it also represents 64 per cent and 58 per cent growth over the revenues achieved in Q2 and Q1 respectively.

The price of OPEC basket of twelve crudes stood at $87.33 a barrel on Monday, compared with $86.00

Saharan Blend

Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Sterling HoldCo Gets Shareholders Approval to Raise N200bn Fresh Capital

Kayode Tokede

Major shareholders of Sterling Financial Holdings Company Plc., approved the management decision to raise N200 billion fresh capital at its recently held inaugural annual general meeting (AGM).

The shareholders expressed their delight with the leadership and financial performance of the group on the backdrop of continued abilities to post impres-

sive growth numbers in its first full year of operations, despite a challenging macro-economic environment.

The holding company delivered a 36per cent increase in its assets size, growing to N2.5 trillion, and a 26.6% rise in its earnings to deliver N221 billion. Both figures represent a significant increase in the group’s performance as contained in its annual report and financial statements for the 2023 financial year.

Dissecting the numbers further, the group earned N156 billion and N 65.7 billion in interest and non-interest income respectively, representing a growth of 21.5per cent and 40.6per cent from the 2022 financial year’s numbers. It achieved this while attracting N 1.8 trillion in customers’ deposits into its two banking subsidiaries: Sterling Bank and The Alternative Bank.

These have helped the group post N21.6 billion in profit, and an

admirable 75 kobo in earnings per ordinary share for 2023. Numbers which signify continued growth of 11.8per cent an 11.9per cent for the respective performance metrics from the publicly traded company’s 2022 postings.

Commenting on the company’s immediate plans, Sterling HoldCo’s Group Chief Executive Officer, Yemi Odubiyi, said in his statement to the company’s shareholders, “In line with evolving regulatory standards and the recent introduction of

minimum capital requirements by the Central Bank of Nigeria (CBN), we will be seeking shareholders’ approval to raise up to N200 billion from the market. This capital infusion will strengthen and position us for sustained growth.”

Odubiyi also highlighted the performance of the holding company’s current subsidiaries; Sterling Bank, a conventional bank, and The Alternative Bank, an ethical banking business, and intimated shareholders on

the group’s intentions to build non-banking revenue lines to progress the group’s rapid growth and capture even more value for shareholders by offering a wider range of services under the trusted Sterling brand.

The Group CEO stated that the group will continue its current trajectory by maintaining a customer-centric approach, while making strategic investments in sustainable ventures that align with the company’s core values.

Crime&Punishment

Davido, Sophia in Messy Legal Fireworks over Child Custody

Wale igbintade

Ending a long-term relationship is always hard, but sometimes, it gets really unpleasant. This is the case with Afrobeats star David Adeleke, popularly known as Davido, and the mother of his first child, Sophia Momodu, over who takes custody of their child, Imade.

For the duo, this is not the first time the issue of child custody has been thrown into the air. On January 3, 2016, when Imade was barely seven months old, Sophia and

her uncle, the renowned journalist Otunba Dele Momodu, raised the alarm and alleged that Davido and his family were trying to “smuggle” the child, Imade, outside the country without her mother’s consent.

According to the then-21-year-old Davido, he alleged that cannabis was found in their daughter. But Sophia, six years older than the ‘Unavailable’ crooner, fired back in a series of tweets revealing how Davido was disrespectful to her and her family. To douse the tension, wellmeaning Nigerians waded in, and

the problems were resolved.

But the anger of eight years ago resurfaced recently when Davido approached the Lagos high court in a suit marked LD/1587PMC/2024, again seeking custody of the daughter.

The suit has been assigned to Justice Abisoye Bashua of the Sabo Division of the Lagos High Court. In an originating motion filed by his team of lawyers led by Dr. Olaniyi Arije at the Lagos High Court, dated April 17, 2024, Davido is praying to the court for “an order granting

joint custody of Miss Imade Adeleke to the applicant.

In the alternative, the singer prayed to the court for “an order granting to the applicant unfettered and unrestricted access to Miss Imade.”

The originating motion was supported by a 44-paragraph affidavit deposed to by Davido himself.

He narrated that though he had a relationship with Momodu that led to the birth of their child on May 14, 2015, the relationship had

Ex-Punch Staff Remanded in Prison over Alleged N998m Fraud

Funke Olaode

For alleged fraud of N998 million, the former employee of Punch Nigeria Limited, Olusegun Ogunbanjo, was arraigned before the Ikeja Division of the Special Offences Court.

Earlier, the prosecution informed the court that the defendant, along with others still at large, allegedly committed the offences between January 2017 and December 2022 in Ikorodu, Lagos.

Ogunbanjo was arraigned on eight counts bordering on conspiracy to commit felony, including obtaining under false pretence, stealing, and forgery.

The prosecution said the defendant’s offences were contrary to sections 411 (2) 314, 285, 287 and 365 of the Criminal Laws of Lagos State 2015

But he pleaded not guilty to all

the counts charged before Justice Ismail Ijelu.

Following his not-guilty plea, the prosecution counsel, Mrs. Q.T. Shomade, prayed the court for a trial date and that the defendant be remanded in prison, pending the hearing and the determination of his bail application.

Responding to her submission, the defendant’s counsel, Mr. T.E. Okeke, told the court that he was appearing for the first time in the matter and that he needed time to file the bail application.

He urged the court to set a short date for him to file and move the bail application on behalf of his client.

After listening to their submission, Justice Ijelu ordered that the defendant be remanded in Kirikiri Correctional Centre pending the hearing and determination of

his bail application.

The court said he would have looked into the bail application if it had been ready.

“If you had your application, the court would have looked into it but while we wait for it. The defendant should be remanded at the correctional facility,” he said.

The judge subsequently adjourned the case to October 16, 2024, for the commencement of trial.

The prosecution said that the defendant fraudulently obtained N417 million from one Mr. Durodola Balogun on the pretext that he was going to use the money to purchase stationery and supplies to finance a Local Purchase Order from Punch Nigeria Limited.

The defendant was also accused of fraudulently obtaining N581 million from Mr. Olusola Ikuyajesin under the guise of purchasing

stationery and supplies to finance a Local Purchase Order from Punch Nigeria Limited.

The prosecution alleged that the defendant stole and converted thousands of US dollars, Ikuyajesin’s property, to his personal use and forged Punch Local Purchase Orders.

The defendant’s offences contrary to sections 411 (2) 314, 285, 287 and 365 of the Criminal Laws of Lagos State 2015

Meanwhile, on June 19, Ogunbanjo was remanded in Kirikiri Correctional Facility after the Department of State Services (DSS) arrested him and brought him to court.

The court issued a warrant of arrest against the defendant, Ogunbanjo, on May 28, 2024. He had refused to appear in court to answer the criminal charge against him since November 2023.

For Kidnapping, Defiling Minor, Court Sentences Driver to Life Imprisonment

Funke Olaode

The Ikeja Division of the Sexual Offences and Domestic Violence Court has sentenced a 24-year-old commercial driver, Abdul Hudu, to life imprisonment for defiling and abducting a 10-year-old girl (name withheld) for three days.

Justice Rahman Oshodi held that the prosecution proved beyond reasonable doubt the two-count charge of adduction and defilement against Hudu.

The court sentenced the convict to two years imprisonment on count one while he was sentenced to life imprisonment on count two Oshodi, in his judgment, said that the facts of the case were distressing as Hudu cruelly abducted the 10-year-old victim from the safety

and care of her parents, for three agonising days.

The judge said, “Her father could not eat and her mother cried incessantly, sick with worry over their missing child. The callous disregard you showed for a child’s well-being and the emotional torment inflicted on her parents is shocking, and worse still, during those three days, you repeatedly defiled and sexually assaulted this vulnerable young girl at the tender age of 10. She experienced unthinkable trauma and violation at your hands, which no child should ever have to endure, and her innocence was stolen.”

The judge added, “Throughout this trial, you have shown no remorse. You lied blatantly in your testimony, denying the clear

evidence against you, including your prior statement to the police. The web of falsehoods you spun to evade responsibility only compounded your culpability.”

Oshodi held that it was a severe case of child abduction and defilement, and the law viewed the offences as deserving of severe punishment to reflect society’s abhorrence to punish the offender and to protect other children from suffering a similar fate.

He held that the fact that the convict was a first-time offender did not deflect the preceding.

He said, “In light of the gravity of the offences, the aggravating features and the absence of remorse, I sentence you as follows: On count one, the offence of abduction contrary to section 141, I sentence

you to two years imprisonment, and it shall commence on the date of your arrest, July 23 2019, as shown in exhibit A-A1.

“On count two, the offence of defilement contrary to section 137, I sentence you to the mandatory sentence of life imprisonment, and you shall also be registered as a sex offender. The sentences are to run concurrently. You will serve your custodial terms at the Maximum-Security Custodial Centre or wherever the Nigerian Correctional Service may direct you.”

The judge further said that he had brought the punishment upon himself through the convict’s wicked actions.

“I hope you will use your time in custody to reflect and reform,” Oshodi said.

ended some years ago “while we resolved to take care of our child as biological father and mother.”

Davido said it was on record that “I have been responsible for the payment of all the school fees of my daughter to provide her with the best education possible and to meet all her educational needs without a hitch.”

The singer said that because of his love for Imade, he purchased and offered the mother a N200 million apartment in a gated condominium community with a swimming pool and 24-hour power and water supply at Oniru, Victoria Island, Lagos. He claimed the offer was turned down.

He said, “The respondent rejected the offer to stay and live at the above-described secured Oniru apartment, which had been purchased already, but demanded that I continue to pay N5,000,000 annually for a rented facility as my own contribution towards my daughter’s accommodation.”

Wale igbintade

The Lagos Division of the Federal High Court d, presided over by Justice Yelin Bogoro, today ordered the remand of two traders, Friday Emmanuel Chieze and Nnam Ifeanyi Kingsley, in prison custody until July 1st, 2024, when the court will rule on their bail application.

The defendants, Chieze and Kingsley, were arraigned by the National Food For Drug Administration and Control, NAFDAC, for allegedly selling cosmetics, including Riggs Body Spray, without registration.

When the matter came up for trial today, NAFDAC’s counsel, Ngozi Emma-Afoke, told the trial judge that the prosecution has a three-count charge before the court and urged the trial judge to allow the charge to be read.

Consequently, the three counts were read, and the defendants pleaded not guilty to the same.

Following the defendants’ not-guilty plea, the prosecutor, Ngozi Emma- Afoke urged the court to remand the defendants in the custody of the Nigerian Correctional Service, pending trial and for a trial date.

However, the defence counsel, Kingsley Oyemaechi, informed the court that he had a bail summons filed on behalf of the defendants and pleaded with the court to allow him to move the bail application.

After moving the bail application, which was not opposed by the prosecution, Justice Yelin Bogoro adjourned ruling on the bail application until July 1, 2024.

said to ensure that the interest of Imade was well-catered for, he bought a Range Rover SUV for the use of the child and the respondent to meet the transport needs, including transportation of the child to and from school.

He added that sometime last year, he received a call from her daughter’s school that Imade had been absent for two weeks, and upon his inquiry from Momodu, “She began to make excuses and complained that the Range Rover SUV was not in a good condition, however, she refused to inform me about that.”

He added, “That sequel to the information about the said condition of the vehicle, I provided another vehicle, Highlander SUV, and in addition, the sum of N5.8 million as requested by her for the repair of the Range Rover SUV, making it two vehicles in the custody and use of the respondent and our daughter.”

She further ruled that the defendants be remanded in the facility of the Nigeria Correctional Services.

The charge sheet said, “That you, Friday Emmanuel Chieze, Male, 28 Years old of Brono Plaza, D007, Balogun Business Association, Trade Fair Complex, Lagos, and Nnam Ifeanyi Kingsley, Male, Adult, of No A27, Imo Plaza, Balogun Business Association, Trade Fair Complex, Lagos, on or about the 18 January, 2024, at the above-named address, within the jurisdiction of this Honourable Court, did sell cosmetics to wit: Riggs body spray, without registration and thereby committed an offence contrary to Section 1 (1) of the Food, Drugs and Related Products (Registration, ETC) Act, Cap. F33, LFN, 2004 and punishable under Section 6 of the same Act.

“That you, Friday Emmanuel Chieze, Male, 28 Years old of Brono Plaza, D007, Balogun Business Association, Trade Fair Complex, Lagos, on or about the 18 January, 2024, at the above-named address, within the jurisdiction of this Honourable Court, did store cosmetics to wit: Riggs body spray, which products contain substance that may cause injury to the health of the users ‘ when used, for such purpose and by such methods of use as are customary and thereby committed an offence contrary to Section 1 (4)(a)(ii) of the Food and Drugs Act, Cap. F32, LFN, 2004 and punishable under Section 17(1) of the same Act, Cap F32, LFN 2004, and punishable under section 17(1) of the same Act.”

Davido

Access BAnk’s working visit to the BAnk of tAnzAniA...

L-R: Managing Director, BancABC Tanzania,Mr. Imani John; Executive Director, African Subsidiaries, Access Bank Plc, Mr. Oluseyi Kumapayi;Governor, Bank of Tanzania, Mr. Emmanuel Tutuba; Deputy Governor, Financial Stability and Deepening, Bank of Tanzania, Sauda Msemo; Director, Financial Sector Supervision, Bank of Tanzania, Mr. Sadati Musa; and Chief Financial Officer, African Subsidiaries, Access Bank Plc, Adesuwa Asemota, during Access Bank’s working visit to the Bank of Tanzania office in Dar es Salaam… recently.

Payment of Withheld Salaries: ASUU Berates FG on Unjustifiable Delay

Raises alarm over collapsing varsities system

hammed shittu in Ilorin and kemi olaitan in Ibadan

The Academic Staff Union of Universities (ASUU), University of Ilorin Branch, yesterday berated the federal government unjustifiable delay in payment of the outstanding balance of the three and half months of withheld salaries of the members in the nation's universities.

Addressing a press conference in Ilorin, at the main office of the union at University of Ilorin, the branch chairman of the union, Dr. Alex Akanmu, declared that, "The unjustifiable delay in payment of our due remuneration only mirrors attempt to frustrate the commitment and dedication of the academic staff who have continued to

fulfill their responsibilities to students and the broader academic community".

According to him, "We are convinced of this legitimate demand for the payment of our withheld salaries and condemn this slave-master attitude of the government".

In another related development, ASUU, yesterday, also raised an alarm that the universities system across the nation is gradually collapsing due to the failure of the government to address outstanding issues with the union.

This is just as it called on concerned stakeholders to prevail on President Bola Tinubu and state governors to address the outstanding issues with the union to avert unnecessary industrial crises and total breakdown of the universities system.

The Chairman, Emmanuel Alayande University of Education (EAUE), Oyo Chapter of the union, Dr. Michael Ojo, while speaking with journalists on Tuesday, called on President Tinubu to as a matter of urgency rescue the Nigerian university system that is bleeding to death, maintaining that one of the ways to address the bleeding was for the President to rise up and sign a renegotiated agreement with ASUU.

The Ilorin varsity branch chair, Dr. Akanmu stated that, "it is twenty months and few days of resumption from the 2022 industrial action with no positive development from the government on our demands of payment of outstanding Earned Academic Allowance (EAA) in spite

of being captured in the 2023 Budget and or mainstreaming to our salaries with effect from 2022.

"The payment of our EAA till date remains a mirage while the government has acted unconcerned in the face of stringent economic situation."

The chairman however said that, "the leadership of the union has commenced consultations and mobilisations across all other branches in the country in order to enable the federal government realise the need to fulfill their demands".

Akanmu also berated the insensitivity of the federal government towards the demands of the ASUU in the past few years despite various agreement reached but not long fulfilled.

According to him, "Needless to bother you about the open secret

Customs Official Dies During House Committee Investigative Hearing

Tinubu, Senate, Adeniyi mourn

Deji elumoye, James emejo, Adedayo Akinwale and sunday Aborisade in Abuja

An official of the Nigeria Customs Service (NCS), Deputy Comptroller Etop Essien, who served as the Deputy Comptroller in charge of Revenue in the Account Unit of the service, died yesterday, during an investigative hearing by the Public Account Committee (PAC) of the House of Representatives. It was gathered that about three minutes into his presentation to the committee, the late Deputy Comptroller requested for water and showed signs of discomfort. Despite immediate efforts to assist him, he unfortunately passed away.

The spokesperson of the House, Hon. Akin Rotimi in a statement explained that during the engagement, which occurred around 1.00pm, the official developed sudden health complications.

The spokesperson stressed that the House extended heartfelt condolences to the family, friends, and colleagues of the deceased during the difficult time. Rotimi stressed that the House recognised the significant contributions he made to the Nigeria Customs Service and to the nation.

He explained: “During the engagement, which occurred around 1.00pm on Tuesday, June 25, 2024, the official developed sudden health

complications.

“Despite the immediate and diligent efforts of first responders and medical personnel at the National Assembly Clinic, he unfortunately passed away.”

The Spokesperson added that the Speaker of the House, Hon. Abbas Tajudeen expressed his condolences, stating: "We are deeply saddened by the sudden loss of a dedicated public servant. Our hearts go out to his family during this difficult time."

President Bola Tinubu has also said he received the news of the passing of the Deputy Comptroller with profound sadness.

The president, in a release issued by his Media Adviser, Ajuri Ngelale extended his heartfelt condolences to the family of Essien, and described his passing while on an official assignment as most distressing. Tinubu also commiserated with the Comptroller General of Customs, Bashir Adeniyi, as well as the officers, men, and women of the the service, praying for the repose of the soul of the deceased officer and comfort for his family.

Also, the Senate through its committee on Customs and Excise Duties, has commiserated with men and officers of the NCS over demise of Essien at the National Assembly.

The Chairman, Senate Committee on Customs, Excise and Duties, Isah Jibrin (APC Kogi East ), in a statement, said the death of Essien was shocking

, more so, while performing national duty at the House of Representatives wing of the National Assembly .

Part of the statement read: "That the deceased died while carrying out important assignment before the House Committee on Public Accounts , shows that he gave his all , to Nigeria generally and the Nigeria Customs in particular .

"The service of such a dedicated public officer, must definitely not be

allowed to go in vain. On behalf of the Senate Committee on Customs , Excise and Duties, I commiserate with the Comptroller-General of Customs , Mr Bashir Adeniyi , entire officers and men of customs and most importantly, the family of the deceased.”

Meanwhile, Adeniyi, yesterday extended his heartfelt condolences on behalf of the service to the family of the deceased.

of our demands that led to the last industrial action for which government is still owing us three and half months already devalued withheld salaries, but we should inform you that nothing has changed and indeed, the situation is getting worse by the day given the insensitivity, carefree and recalcitrant posture of the government.

"Barely a year ago when the present administration was inaugurated, hopes were high on timely resolution of our demands and agitations given the pseudo democratic roles played by some prominent elements, now in government.

"True to nature, they acted contrary and have been more anti-labour in their operation. With joint efforts supplied from the understanding that we have a country to rescue, we assure you that we shall overcome.

"For avoidance of doubt, few of our issues with the government are here again brought to the attention of the public especially the FGN-ASUU renegotiation of 2009 agreement.

"It is no longer a secret that our negotiated take home pay since 2009 has not changed (15 years ago!). The government, instead, of committing itself to negotiated welfare packages including our take home, revitalization of our institutions and proper funding in addition to stoppage of proliferation of institutions without structure to support such, has conscientiously maintained lines of frustration, blackmail and use of hunger as weapons to demystify the essence of our struggles.

"Moving from Babalakin to Jubril and late Briggs Committees, we have remained on the same spot of

failed promises and deceit from the government".

The chairman added, "You recall the role played by the then Minister of Labour and Employment to truncate the negotiation, causing division among members and blackmailing our union for legitimate demands.

"He is today on the wrong side of history and generations to come shall be reminded of their fathers’ actions in the shortest possible time. It is scriptural to remind all other agents of government that old prophets and forefathers do not live forever!

"The consequences of this needless and prolonged negotiation are, first, the avoidable exodus of scholars and, second, low morale of the workforce who are left behind in giving the very best to the system.

"We therefore call on the government to, without further delay, sign and execute the Briggs’s report which itself will be due for review in a short time from now. Government should be aware that there is nowhere in the world where wage award replaces negotiated wages".

On his part, the chairman, Emmanuel Alayande University of Education (EAUE), Oyo Chapter of the union, Dr. Michael Ojo, said that salary awards are not substitutes for a negotiated agreement as each negotiated agreement between the federal government and ASUU is a comprehensive package that captures not just salary component but also a gamut of requirements for benchmarking a competitive university system designed for addressing the developmental challenges of Nigeria.

Group to Commence Anambra Schools’ Campaign Against Drug Abuse

David-chyddy eleke in Awka

The Adorable Foundation International (AFI), a non-governmental organisation (NGO) has disclosed it is starting a school-to-school campaign in Anambra State to sensitize students on the dangers of drug Abuse.

The founder of the organization, Princess Ada Amam, revealed this during a press conference in Awka, yesterday, to introduce the group's beauty pageant which will hold, Wednesday, to mark the International Drug-free Day.

She said: "We are here to introduce to you the Queen of ASACADA

beauty pageant, which is a brain child of AFI. ASACADA means A Societal Awareness Campaign Against Drug Abuse.

"We noticed that drug abuse among young people is on the rise, and this is not limited to males only, but females too. The goal is to fight drug abuse using the youths who are those mostly involved.

"The pageant will come up on Wednesday and one of the many contestants will be crowned as Queen of ASACADA, and the winner will move from school to school to sensitize students on the dangers of drug abuse."

Amam said the group was founded in 2017 by like minds who came together to help drug agencies like the National Drug Law Enforcement Agency (NDLEA) sensitize youths against use of illicit drugs.

President of Anambra State Association of Town Unions (ASATU) youth wing, Mr. Ken Okoli, described the project as a laudable one, promising to join in advocating against drug abuse in all the communities, insisting that youths must be part of the campaign. He said: "Peer group pressure is the biggest influence in drug abuse. We must let our youths know that

drug can take their vision and mission in life.

"Drug abuse has caused a lot and the bad thing is that the ladies are more in number in the drug abuse these days.

"The wife of the governor of Anambra State, Mrs. Nonye Soludo, is an advocate of healthy living and campaigns against drug Abuse. "I promise to facilitate a meeting between this group and the next Queen of ASACADA, so that you can receive the support you need to be able to carry out the campaign against drug abuse in your school-to-school campaign exercise."

AFRICA GAS INNOVATION SUMMIT...

L–R: Senior Technical Adviser to the Honourable Minister of Petroleum (Gas) Mr. Abel Nsa; Chairman, Society of Petroleum Engineers (SPE), Nigeria Council, Salahuddeen Tahir; Chief Investment Officer, Nigerian National Petroleum Company (NNPC) Gas & Power Investment Services. Dr Salihu Jamari; Permanent Secretary, Ministry of Petroleum Resources, Amb. Nicholas Agbo Ella; Executive Secretary Nigerian Gas Association (NGA), Mr. Taji Ogbe and President, Association of Local Distributors of Gas (ALDG)/Chairman, Falcon Corporation Ltd, Prof. Joseph Ezigbo, during the maiden edition of Africa Gas Innovation Summit (AGIS 2024) held in Abuja...recently

I Can't Tell If Emefiele's Wife Signed Documents Relating to Architekon, Witness Tells Court

Alex Enumah in Abuja

Mrs. Abibia Ockiya-Ogeleye, a witness of the federal government in the trial of the immediate past Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday, admitted she could not tell whether Emefiele's wife signed documents of a firm, Architekon Nigeria Limited, allegedly linked to her.

Ockiya-Ogeleye, who is a legal practitioner and Ninth Prosecution Witness (PW9) of the federal government, stated this under cross examination by Emefiele's lawyer, Mr. Mathew Burkaa, who is a Senior Advocate of Nigeria (SAN).

Emefiele is standing trial on an alleged 20-count amended charge, preferred against him by the office of the Attorney General of the Federation (AGF).

He was alleged to have engaged in criminal breach of trust, forgery, conspiracy to obtain by false pretense and obtaining money by false pretense, when he served as the apex bank's boss.

Besides he is also accused of using his office as CBN governor to confer unfair and corrupt advantage on two companies; April 1616 Nigeria Ltd and Architekon Nigeria Ltd.

While the prosecution had linked one Mrs. Saadatu Yaro, a public servant and Director in CBN to April 1616, it had linked Architekon with Emefiele's wife, Margaret Omoyile and Emefiele's brother-in-law, Mc Combo Omoyile.

Both April 1616 and Architekon were awarded contracts for the supply of vehicles, furniture, landscaping, provisions of dedicated power lines amongst others during Emefiele's tenure as CBN governor.

The federal government by the charge claimed Emefiele conferred undue advantage on himself and the two companies by approving the award of the contracts to them.

To prove its allegations, the prosecution led by Mr. Rotimi Oyedepo (SAN), yesterday, called Ockiya-Ogeleye who claimed to have rendered some services to Architekon for quite sometimes.

She claimed that she had in times past, "filed annual report, change the director and shareholders of the company."

Adding that: “Sometimes in 2021, one madam Esther called me to effect a change in the company by adding her as a director of the company.”

The witness told the court that prior to 2021, Architekon had only two directors.

She tendered a CAC document, which contained the names of Margaret Omoyile, Mc Combo Omoyile and Esther Oyeladun Adeoun as shareholders; another document containing the record of transfer from Combo to Margaret, dated March 4, 2021, as well as another document containing the resolution of the company on Esther's admittance as a director of Architekon.

Besides, the witness presented to the court a copy of the email wherein she claimed Esther sent her requesting that she (Esther) be added as a director to the company.

However, during cross examination by Burkaa, the witness said she did not see both Margaret and Mc Combo execute any of the documents she tendered before the court.

Also when confronted with her statement wherein she claimed that a resolution was passed by Mc Combo and Margaret because their signatures were on the documents, the witness said, "I can't tell the court whether they were at the meeting and signed the resolution."

"Does that applies to documents sent to you on every Architekon documents? she was asked and the witness’ response was “Yes.”

She was further asked: "Are you aware that Margaret was not in the country? And the response was “Yes.”

Burkaa further confronted the witness with her statement wherein she alleged that Esther had told her that Margaret was not in the country.

"Was Margaret copied in that email?, the witness: was asked and her response was: “The only name on the mail is one Chioma.”

"Do you know where Margaret

is?” she was further asked and her response was “No, I don't even know her.”

She admitted that all the instructions she took were from Esther.

Earlier, a Compliance Officer with Zenith Bank Plc, Mr. Umar Abba Tilda, tendered three bank documents before the court which included a copy of Emefiele's bank statement.

Tilda, citing a portion in Emefiele's bank statement informed the court that there was a N4 million

transfer from Emefiele's account with the bank to Architekon on January 13, 2015.

However, when asked by Emefiele's lawyer if he knew what the transfer was meant for, he said he does not know.

Also when asked if he knew that the accounts he listed as belonging to Emefiele were salaries accounts, investments, savings and dividends, he said, "I wouldn't know.”

He also confirmed that some of the accounts contained Capital

Interest Credit. He also confirmed that a transaction of N15 million debit, dated April 13, 2015, in account number 2020000064 was part of the litigation. Meanwhile, the court adjourned till October 21, for continuation of trial.

The court however, would on July 8, hear an application by Emefiele seeking the release of his international passports to enable him travel overseas for medical care.

Don't Amplify Terrorists’ Nefarious Activities,

The Minister of Information and National Orientation, Mohammed Idris, Tuesday, appealed to media owners and journalists in the country not to amplify the nefarious activities of terrorists, bandits, and other non-state actors striving to distort and distabilise the nation’s peace, economic growth, and sustainable development.

He also noted that terrorism is not merely a physical threat, but also ideological battle of the mind with the extremist groups exploiting vulnerabilities, spreading fear, and propagating messages that present them as fighting for a social cause, in order to further their depraved agenda.

The minister made this appeal while declaring open a two-day capacity building on, "Effective Reporting Towards Strengthening Alternatives to Terrorist Ideology," organized by National Counter Terrorism Centre, Office of National Security Adviser (NCTC-ONSA), in collaboration with Institute for Peace

Information Minister Begs

and Conflict Resolution (IPCR). Idris told the defence and diplomatic correspondents that to counter this extremist ideology, "we must offer compelling, positive alternatives that resonate with the same audiences targeted by terrorists. Therefore, your reporting plays a pivotal role in this endeavor".

According to him, "The media holds an immense power to influence minds, shape narratives, and promote peace. In the fight against terrorism, the media can either undermine or bolster our collective efforts to provide alternatives to extremist ideologies. Through your reports, images, and commentaries, you have the unique ability to educate, inform, and inspire resilience among the public".

In a keynote address, the National Security Adviser, Mallam Nuhu Ribadu, said media content can change people’s perception and attitude, galvanize solidarity, mutual trust, patriotism and national cohesion.

Represented by the National Coordinator, National Counter Terrorism Centre, Office of the National

Northern Group Passes Vote of Confidence on IGP Egbetokun

Segun

Awofadeji in Bauchi

The Northern Youth Association of Nigeria has urged President Bola Ahmed Tinubu to disregard any calls for sack of the Inspector General of Police (IGP) Kayode Egbetokun and order full-scale investigations into allegations of corruption in the constable recruitment exercise.

Speaking to Journalists in Bauchi, Tuesday, the president of the group, Comrade Godiya T. Adams, said the call for the sack of the IGP was uncalled for and selfish.

“Permit me to thank you all, members of the press present at this

briefing, I salute your sagacity at making sure the right information is passed to the public,” he stated. According to him, “Our attention has, in recent days, been drawn to news making rounds of a group of unpatriotic and disgruntled individuals asking President Tinubu for the sack of the IGP.

"Here, we want to state without equivocation, fear or favour, that such actions is not only malicious but selfish and self-centered and we are hereby calling on our father, the President and Commander in Chief to disregard such action and to even call such individuals to order

as their actions undermines the effort of the IGP to bring the Nigerian Police to global reckoning.”

“We are very much aware of the irregularities and corruptions perpetrated by these elements of retrogressive character in the conduct of the recruitment processes of citizens into the Nigerian Police and the only crime of the IGP was to reject such flawed processes. As Nigerians, we want to assure the IGP that we are solidly behind him on this as things must been done in the proper way.

“There have been positives with the Nigerian Police under the stewardship of IGP Kayode Egbetokun

and Nigerians are very happy with the way the Police have conducted themselves in the discharge of their duties.

“We urge the IGP to remain focused on giving Nigerians the best police/citizens relationship as these individuals might stop at nothing to tarnish his hard reputation as a police chief of impeccable antecedents.

“We call on Mr. President to constitute a panel of investigation that will properly look into these allegations of misconduct and corruption that had marred the recruitment process and bring defaulters to book.”

Security Adviser, Maj. Gen. Adamu Laka, the NSA noted that the media is also expected to mobilize support for government and national security efforts, and strongly help to dissipate ignorance that makes some persons susceptible to terrorist appeals and violent extremism narrative.

Ribadu said terrorist groups have continued to provide dysfunctional information through social media platforms, networking sites, and online propaganda including mainstream and traditional mediums of communication in such manner appealing for easy recruitment of many, especially among the youths.

According to him, this is a situation

that we must jointly combat to attain a safe and peaceful society that will guarantee sustainable socioeconomic development.

Earlier in his address of welcome, the Director General, Institute for Peace and Conflict Resolution (IPCR), Dr. Joseph Ochogwu, said Nigeria’s democracy is being seriously challenged and her peace, constantly threatened by the activities of terrorist groups.

Represented by the Director, National Peace Academy, Dr. Bosede Awodola, the DG said the problem is increasingly pervasive with associated criminality that is heightening the fear and insecurity in the country.

Insecurity: Ozigbo Knocks Soludo, Says Anambra Deserves Better

David-Chyddy Eleke in Awka

A chieftain of Labour Party in Anambra State, Mr. Valentine Ozigbo, has criticized the governor of the state, Prof. Chukwuma Soludo, over the wave of insecurity in the state.

Ozigbo, a frontline hopeful in next year's governorship election in the state admonished Soludo to pay more attention to security and take positive action towards tackling it.

In a press release he signed, Ozigbo said: "Soludo has broken his contract with Anambra people especially on security. Anambra is still bedeviled with kidnapping for ransom, banditry, farmer-herders clashes, cult and drug related criminality and communal disputes.

"He has clearly broken the contract with Anambra people which are encapsulated in his governing documents - Anambra Vision 2070 - a 50-Year Development Plan, The Soludo Solution: and The Transition

Committee (Combined) Report.

“Looking at his performance indices on his personally assigned goals, the governor has been very tall in rhetoric and very short in execution.

"In some cases, he is the direct cause of the disorder. What the governor has failed to realize is that when it comes to issues of security, certain truths are better left off the public domain.

“What is required are firm, resolute and sustainable decisions and actions executed outside public glare but which enhance the wellbeing of the people. It is becoming crystal clear that there is no solution by Soludo to the issue of insecurity in Anambra State.

"It is either he thinks words alone would make insecurity go away or he doesn’t think it deserves enough attention, which is not good enough for Ndi Anambra.”

He urged the governor to brace up and give hope to people of the state.

Ikechukwu Aleke in Abuja

Celebration of Seafarer Day...

L-R: Director General, NIMASA, Dr. Dayo Mobereola; Representative of Minister of Marine and Blue Economy/Director, Maritime Safety and Security, Mr. Babatunde Bombata; Chairman, Senate Committee on Marine Transport, Senator Wasiu Sanni Eshinlokun and Executive Director, Finance and Administration, NIMASA, Mr. Chudi Offodile during the celebration of the 2024 Seafarer Day with the theme on Navigating the future; Safety first, held in Lagos...yesterday.

LP: We’re the Only Party That’s Produced Its Presidential Candidate for 2027 Elections

transition team storms meeting

Chuks okocha and onyebuchi ezigbo in Abuja

The leadership of the Labour Party (LP), yesterday, said it remained focused on the 2027 general election, hence it was the only party in the country that has produced a presidential candidate, apparently referring to Mr. Peter Obi, the same candidate it fielded in 2023.

Also, yesterday, Obi, said he convened a meeting of stakeholders to reconcile aggrieved members, saying every discord within the ranks of the party would be addressed soon.

In a statement by LP’s National Publicity Secretary, Obiora Ifoh, Abure expressed satisfaction on the leadership roles Obi has been playing in the party in making sure that the party returned to a formidable entity capable enough to engender the new Nigeria hoped for.

"Labour Party is happy with your reconciliation project and we will give you all the supports. We are not the aggressor here, we have always wanted peace because we

At the same time, the National Transition Committee formed by the Nigeria Labour Congress (LPNTC), yesterday, stormed the party headquarters and demanded that the embattled National Chairman, Julius Abure, should resign.

can't go into future elections with a divided loyalty.

"We have said that we are focused on 2027, that is why we are the only party that has produced its candidate for the 2027 presidential election. We know where we are going and we have refused to be distracted. We will definitely get to our destination of giving Nigerians a better nation," Abure said.

Obi, who addressed the labour leaders outside the party secretariat, said he convened the meeting in order to reconcile aggrieved members.

The former Anambra State governor tasked the leadership of the party to continue in its efforts

towards reconciling all aggrieved party members and supporters, even as he pledged to ensure that every discord within the party was addressed in no distant time.

While noting that the leaders of the party must sit at a table to decide the future of the party, Obi said the reconciliation between the party and its estranged former leaders, led by former Deputy National Chairman (South), Lamidi Apapa,was a welcome development, insisting that the reconciliation was for the greater good of the party.

"Let me tell you one thing, their reconciliation is all about our party and I can assure you that everyone

Despite Economic Headwinds, AMCON Posts Impressive 2023 Financial Result

nume ekeghe

Despite challenging macroeconomic conditions coupled with economic headwinds, the Asset Management Corporation of Nigeria (AMCON) achieved a remarkable triple-digit growth of 202 per cent from N34.730 billion in the previous year to N108.433 billion in 2023.

This was disclosed in a statement issued yesterday, by the Head Corporate Communications Department of the debt recovery agency of the federal government, Mr. Jude Nwauzor.

A breakdown of the performance showed that AMCON, which is currently led by Mr Gbenga Alade as Managing Director/Chief Executive

Officer achieved a Year-on-Year (YoY) growth in profit of 212 per cent, from N34.730 billion in the financial year, which ended on December 31, 2022, to N108.433 billion in the period ended December 31, 2023.

The report disclosed that fair valuation gains on Eligible Bank Assets (EBAs) increased to N40.9 billion in 2023, from a loss of N187.9 billion in 2022. Equity portfolio recorded 82 per cent growth in 2023 amounting to N43 billion, compared with N7.9 billion in 2022. The significant trading gains was as result of an improved performance in the stock market.

Interestingly, the Corporation achieved a favourable reduction in total liabilities, from N6.282 trillion in 2022 to N5.739 trillion in 2023,

primarily due to repayments of the N500 billion Central Bank of Nigeria (CBN) loan. The Corporation also achieved 89 per cent achievement of its revenue budget in 2023 as the total recovery in 2023 stood at N125.2 billion.

A breakdown of the recovery showed that AMCON achieved N81.65 billion in collections from various obligors; N17.8 billion from share sales; N15.5 billion reinvestment income; N6 billion as proceed from sale of properties; N3.8 billion dividend income and N0.5 billion from rental income despite the country’s challenging economic environment, occasioned by the removal of subsidy and floatation of the naira.

Alia, Ortom, Feud over State’s Debt Profile

George okoh in Makurdi

Benue State Governor, Hyacinth Alia and his immediate predecessor, Samuel Ortom, have disagreed over the debtprofile of the state.

While Alia has accused Ortom of leaving over N359 billion in salary arrears for him, Ortom has refuted the claims.

The governor stated in Okpoga, headquarters of Okpokwu Local Government Area recently during a ‘thank you’ tour of Ado/ Okpokwu/Ogbadibo Federal Constituency that he inherited

the bogus amount. He alleged that previous administrations in the state lied to the people that the federal government denied them funds to pay salaries.

But Ortom has challenged the claims and accused him of lying.

In a statement by his media aide, Terver Akase, Ortomchallenged Alia to publish the allocations received since his assumption of office.

Ortom, who described the claim as nothing but a tissue of lies, said Alia, by his claim, had created the impression that he did not pay his salary for five years.

He said his successor has been bandying his administration, which shows that the governor was obsessed with his name.

The former governor recalled that the Alia administration had admitted that he (Ortom) left N187.56 billion in debt when he assumed office in 2023 and expressed worries about the new figure the governor dropped during his thank-you tour.

“We challenge the State Government under Governor Alia to publish the allocations they have received since May 2023 and how the funds are being expended.”

The executive management of the Corporation led by Alade said AMCON was strategically positioned to continue with the positive trajectory achieved in the year 2023, with special emphasis on improved recoveries and efficient realisation of value from disposal of forfeited assets in furtherance of the Corporation’s mandate.

must reconcile with each other. During our meeting before we learnt that our people were outside, I told them that my first assignment was reconciliation.

“My second assignment was reconciliation and my third assignment, reconciliation and I can tell you that what you witnessed earlier is a normal thing in our lives, I do the same thing.

"It is what I do every day even in our families. When we quarrel with our wives and children, we reconcile. Even today during the meeting, I made one instance which is that I have come to start the work of reconciling the family.

"So these people here are members of the family, who we must reconcile with. We are going to sit down around a table and decide the future of our party. I am ready for a reconciliation meeting any day you choose.

"And I like what happened here today. This means we have just started the reconciliation process and what we achieved today was so much. As I told you, sometimes it happens in my house and I allow it because that is the only way I know how mature my children have become."

Meanwhile, the labour leaders, who stormed the venue of the meeting of the National Working Committee of the party in Abuja convened by Obi, insisted that the

tenure of Abure and others would expire by end of this month.

Chairman of the committee, Comrade Abdulwahed Omar, while addressing journalists, said the committee would “either find our way forward or we make our way forward.”

In a bid to disperse protesters, who attempted to force their way into the party premises, the police fired teargas.

Omar, who was at a time president of the Nigeria Labour Congress, said, “The issue at hand is that the tenure of Abure and the National Working Committee, has expired by the end of this month. And there cannot be a vacuum in leadership.

“We have tried to do it peacefully. As much as possible, if we can resolve this issue without fighting, that will be good but from what we have witnessed today, it appears certainly that it is either we find our way forward or we make our way forward. This I assure you.

“We will not tolerate lawlessness but if anybody decides to be lawless because he has power and subvert our efforts, I want to assure that we are also capable of doing whatever anybody can do we can do more,” he stated.

Omar said the committee had been given the mandate by stakeholders to conduct a new and an all-inclusive national convention.

In View of Recent Devts, Atiku Seeks Reform, Protection of Traditional Institutes

In apparent references to the threat to depose the sultan of Sokoto and the crisis rocking the Kano Emirate, former Vice-President Atiku Abubukar, has called for protection and reformation of the traditional institutions in the country

Atiku, the Peoples Democratic Party (PDP) presidential candidate in the 2023 general election, explained that though there was no constitutional roles for traditional institutions, it was clear that they perform a crucial role in governance.

He specifically called for the protection of the traditional rulers from the arbitrariness of state governments, while appealing to state governments to give respect to the traditional institutions.

In a statement personally signed,

Atiku said, "Recent developments in the country has seen a growing tendency of state governments exerting influence in distorting the modalities of enthroning traditional stools.

"It is a reality that stares us in the face from every corner of the country. While it is understandable that the institutions of traditional rulership is in the exclusive purview of the state government, although through the local government authorities, it must be established that traditional institutions constitute a component of our governance structure.

"And thus, traditional institutions must be protected from the arbitrariness of state governments that threaten their stability. When the structure of ascension of traditional rulers is unstable, it will become equally difficult to maintain peace

and orderliness in communities.

"Although our constitution, in its current format, does not ascribe any recognition to traditional institutions, yet our experiences show clearly that they perform enormous roles in the economic life of their domains, as well as maintenance of peace and security in communities.

"I wish to remind that the traditional institutions formed the governance structures before the advent of the colonialists. And they governed well. Consequently, they are institutions we must protect and preserve and not destroy.

“It is, therefore, on this basis that I lean towards the advocacy that calls for constitutional reform that will not just recognise traditional institutions in our body of laws but also define the responsibilities of their offices," Atiku stressed.

PhOTO: ABIODuN AjALA

Chuks okocha in Abuja

lAunch of olumIDE-ojo’S nEw book tItlED: ‘StEp forwArD: mArkEt plAcE rEADInESS’...

L-R: Lagos State Coordinator, National Youth Service Corps (NYSC), Mrs Yetunde Baderinwa; Corporate Executive and Founder of the LightHouse Network, Mrs Nkiru Olumide-Ojo; and Founder of Ruff and Tumble, Mrs. Adenike Ogunlesi, at the launch of Olumide-Ojo’s new book titled: ‘Step Forward: Market Place Readiness’ in Lagos…recently

Sanwo-Olu Celebrates 59th Birthday With Children Living With Disabilities, Teachers

Holds thanksgiving service with family, cabinet members Tinubu rejoices with Lagos governor

Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday, celebrated

his 59th birthday with children living with disabilities at the Lagos House, Ikeja. This was as President Bola

Tinubu congratulated him on his 59th birthday, and wished him more wisdom and energy in his service to Lagos State and the nation.

Army: Viral Audio on Alleged Recruitment of Insurgents False, to Incite Religious Crisis

Ikechukwu Aleke in Abuja

The Nigerian Army has discredited the viral audio message on how it was recruiting jihadists and Islamic extremists into its fold.

The Service also noted that the intendment of the originators of the falsehood was to incite religious disharmony in the country.

A statement by Director Army Public Relations, Maj Gen Onyema Nwachukwu, said the narrative depicted in the footage, was not in any instance a reflection of the true values and standards of the NA.

He added that it was targeted at sparking palpable anxiety and fear, sowing discord and mistrust amongst personnel, eroding public confidence in the integrity of the NA, particularly among Christian and non-Muslim communities, who might feel their lives and faith are under threat, and ultimately engender religious crisis in the country.

2023). This represents an increase of N24.33 trillion in the country’s debt portfolio within three months (January to March 2024).

DMO, in a statement issued yesterday, said it was important to recognise the fact that Nigeria had undergone some major reforms, which had impacted economic indices, such as the dollar/naira exchange rate and interest rates.

The statement, titled, "Explaining the Q1 2024 Public Debt Data,” read, "The Total Public Debt Data as at March 31, 2024 (Q1, 2024), showed that the total public debt in Naira terms stood at N121.67 trillion compared to N97.34 trillion as at December 31, 2023 (Q4, 2023).

"While detailed information was provided on the data, such as the split between external and domestic debt, as well as the fact that the debt stock includes the domestic and external debt stock of the 36 states and the Federal Capital Territory, it

He said, "The attention of the Nigerian Army (NA) has been drawn to an audio-visual recording circulating on various online platforms, purportedly showing a misleading report suggesting that the NA is recruiting Islamic fundamentalists and jihadists.

“The footage also falsely portrayed an officer calling on Muslim young men to join the military to protect and propagate Islam. Considering the gravity of these falsehood, the NA wishes to clearly state that the narrative depicted in the footage is not in any instance a reflection of the true values and standards of the NA.

“It is targeted at sparking palpable anxiety and fear, sowing discord and mistrust amongst our personnel, eroding public confidence in the integrity of the NA, particularly among Christian and non-Muslim communities, who might feel their lives and faith are under threat, and ultimately engender religious

has become imperative to provide some explanations.

"It is important to recognise the fact that Nigeria has undergone some major reforms, which have impacted economic indices, such as the USD/ Naira Exchange Rate and Interest Rates. These two, in particular, affect the Debt Stock and Debt Service."

DMO explained that returning to the trend in the total debt data between Q4 2023 and Q1 2024, the increase in naira terms of N24.33 trillion was being misinterpreted as New Borrowing. According to the agency, only N2.81 trillion of the new debt stock emanated from New Borrowing as part of the N6.06 trillion New Domestic Borrowing captured in the 2024 Appropriation.

The DMO added that another New Domestic Borrowing of N4.90 trillion was part of the securitisation of the N7.3 trillion Ways and Means

crisis in the country."

Nwachukwu said the NA remained steadfast in upholding professionalism and impartiality as an institution devoid of ethnic and religious bigotry.

Tinubu, in a release by his Media Adviser, Ajuri Ngelale, prayed for many more years in good health for the governor.

However, the event organised by the Lagos State Executive Council was attended by about 250 special needs students and their teachers, who sang various thanksgiving songs and displayed their talents to celebrate the governor.

Accompanied by his wife, Dr. Ibijoke Sanwo-Olu, and the wife of the Deputy Governor, Mrs. Oluremi Hamzat, Sanwo-Olu cut his birthday cake surrounded by the children with special needs from different

schools in Lagos State. He pledged to continue to prioritise the welfare and access of children, particularly those with special needs, to qualitative and free education in the state.

Sanwo-Olu, had earlier attended a thanksgiving service held at the Chapel of the Lagos House, Marina.

The service tagged 'Celebration of God's faithfulness' was attended by Deputy Governor, Dr. Obafemi Hamzat; First Lady, Dr. Ibijoke Sanwo-Olu; Chief of Staff, Mr. Tayo Ayinde; and the National Youth Leader of the All Progressives Congress (APC), Mr.

Dayo Israel. Also, at the service were the Bishop of Lagos Diocese, Anglican Communion, Rt. Revd Ifedola Okupevi; Special Adviser to Governor on Religious Matters (Christian Affairs), Very Revd Bukola Adeleke; members of the Lagos State Executive Council, Special Advisers, Permanent Secretaries, party members, religious leaders, close aides, families, friends, and staff of the celebrant. The service was also attended by special children from Army Command School and Ereko Methodist School in Lagos.

Akpabio Distances Senate from House’s Panel Proposal on New Aircraft for Tinubu, Shettima

President of the Senate, Godswill Akpabio, has distanced the Senate from the report of the House of Representatives Committee on National Security and Intelligence, which recommended the procurement of two airplanes for President Bola Tinubu and Vice President Kashim Shettima.

Akpabio, according to a statement from his Media Office, spoke in

Advances approved by the National Assembly.

It stated, "The amount actually represents New Borrowing of N2.81 trillion as part of the New Domestic Borrowing of N6.06 trillion provided in the 2024 Appropriation Act, New Domestic Borrowing of N4.90 trillion as part of the securitisation of the N7.3 trillion Ways and Means Advances approved by the National Assembly, as well as, the depreciation in the official Naira Exchange Rate from USD/899.39 in Q4, 2023 to USD/ N1,330.26 in Q1, 2024.

"Consequently, whereas, the Total External Debt Stock was relatively flat at USD42.50 billion and USD42.12 billion in Q4, 2023, and Q1, 2024, respectively, the naira values were significantly different at N38.22 trillion and N56.02 trillion respectively, representing a difference of N17.8 trillion.

"This explains the perceived sharp increase of N24.33 trillion in

Maiduguri, Benue State, shortly after leading a delegation of senators to pay a condolence visit to Senator Tahir Monguno over the death of his father.

The statement quoted the Senate President as saying, "a news report which indicated that the 10th Senate was proposing new aircraft for Tinubu and Shettima is false."

The House Committee on National Security and Intelligence had in its report, published by Premium

the total debt stock in Q1 2024. The difference in the Exchange Rate for the two periods also explains why in US Dollar Terms, the Total Debt Stock actually declined in Q1, 2024 (USD91.46 billion) when compared to Q4, 2023 (USD97.34 billion)."

While the debt stock was growing, DMO pointed out that it should be understood that this was coming from approved new external and domestic borrowing, as well as the securitisation of the Ways and Means Advances.

The various measures to attract foreign exchange inflows should increase external reserves and support the naira exchange rate, it stressed.

Meanwhile, the latest debt figures showed that Nigeria's multilateral debt obligation stood at $20.82 billion or 49.45 per cent of the $42.115 billion external debt burden as of March 31, 2024.

Multilateral debts are those owed to international creditors, such as

Times, last week, asked the federal government to immediately procure two airplanes for Tinubu and Shettima to secure the transportation of the country’s top officials.

The proposal triggered widespread criticisms by some Nigerians, who questioned the wisdom in buying new aeroplanes at a time Nigeria was facing severe economic hardship.

The Chairman, Senate Committee on National Security and Intelligence,

the World Bank Group (WBG), International Monetary Fund (IMF), African Development Bank (AfDB), Islamic Development Bank (IsDB), International Fund for Agricultural Development (IFAD), and European Development Fund (EDF), among others.

Latest data released by DMO showed that Nigeria's total external debt obligation to multilateral agencies stood at $20.82 billion at the end of March 2024. Of this amount, the World Bank Group, comprising the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD), accounted for $15.102 billion, followed by IMF at $2,032 billion, and the AfDB Group with $1.628 billion.

The latest DMO data actually indicated that Nigeria's external debt obligation posted a decline in real terms, despite recent borrowings by the federal government.

Senator Umar Shehu Buba, who spoke on Saturday night from Saudi Arabia, where he was performing this year’s hajj, was also quoted to have supported the planned procurement of the aircraft.

The Senate panel chair was quoted to have argued that "not quickly overhauling the presidential air fleet could endanger the lives of President Tinubu and his deputy."

But Akpabio, while reacting to the development in Maiduguri, said, "the report was from propagandists and fifth columnists."

He stressed that the Senate was focused on delivering legislation that would support the actualisation of President Tinubu’s Renewed Hope Agenda.

Akpabio, who expressed satisfaction with the present security situation of Borno State, urged Nigerians to continue to pray for the present administration.

“I want to dispel the rumour that you are hearing that the Senate President said he will buy a new plane for the President and his Vice, irrespective of the fact that Nigerians are hungry or whatever.

“I never said that. I was actually in Zanzibar, Tanzania, (when the rumour spread). It is the handiwork of propagandists and fifth columnists, who never see anything good in what we are doing.

"Rest assured, pray for the government, have patience and be assured that the combination of Tinubu and Shettima will bring wealth and prosperity to all.”

Deji Elumoye in Abuja

Sunday Aborisade in Abuja

20TH ANNIVERSARY LECTURE OF BRIDGE HOUSE COLLEGE...

L-R: Wife of the former Governor of Cross Rivers State, Mrs. Onari Duke; Chairman, Heirs Holdings, Mr. Tony Elumelu; Executive Director, Bridge House College Ikoyi, Dr (Mrs.) Foluke AbdulRazaq; and Mutawalle of Ilorin, Dr. Alimi AbdulRazaq at the 20th Anniversary Lecture and prize giving ceremony of Bridge House College Ikoyi Lagos, at Muson Centre Onikan, Lagos…….yesterday

In Cryptic Message, Fubara Insinuates Wike Frustrated Amaechi’s Effort to Develop Rivers

Urges politicians to shun politics of bitterness, promote improved economy

Blessing Ibunge in Port Harcourt

In a cryptic message, the Rivers State Governor, Siminalayi Fubara, yesterday, insinuated that his predecessor, Nyesom Wike, frustrated efforts by his own predecessor and former Minister of Transportation, Rotimi Amaechi, to bring development to the state on account of politics.

He however, advised politicians not to be involved in politics of bitterness, but engage in activities that would promote peace and economy of the state and the nation at large.

Fubara gave the advice yesterday, when he received a delegation of the House of Representatives Committee on Ports and Harbours, led by its Chairman, Hon. Nnolim Nnaji, on

a courtesy visit to the Government House, Port Harcourt.

The delegation was in Rivers State for oversight functions at the Port Harcourt, Onne Sea Ports, and Bonny channels, under their preview.

Fubara said the Sea Ports were essential facilities that would contribute to harvesting the rich gains of the blue economy, adding that those who delighted seeing them remain inactive and moribund did not mean well for the state and the country.

"About nine years ago, if you understand the calculation, somebody here was the senior Minister of Transport, nothing happened at our ports. Every progress that was supported to come to the Sea Ports here, because of bitter politics was

stopped. That is why our ports are moribund today.

"Today, after another eight years, which this other person suffered, we have entered into another similar era. If you love this state, it is normal to support everything that will bring progress and development to this State."

He emphasised that it was not about who governed the state but the interest of the State.

"If the state continues to go down, what is the interest? The only reason why we are struggling is because of the allocation.

"The only reason why we are struggling is to make sure that you have control of the treasury. But the treasury will also get fat if the sea

Approves $1.442m for

ports are working. Revenue will increase. Your plan for expansion will also become large with internal revenue.

"So, I want everybody to understand that politics of bitterness will not take us anywhere. It is only a thing that will lead you to early grave because once joy is taken away from a man's life, it is anger, and anger leads to destruction of souls.

"So, please, for those of you who took this bold decision to come to see us and to make this possible, we want to thank you and assure you that no matter what it takes, we will not take the path of bitter politics."

The governor insisted that politics should be rightly situated as a game

with a winner to emerge at any particular time, and those who may not be lucky with winning should not indulge in acts that will destroy the system.

Earlier, Chairman of the House of Representatives Committee on Ports and Harbours, Nnolim Nnaji, said they were on familiarisation visit to the Government House and to conduct oversight functions of the Port Harcourt Ports, Onne Ports and the Bonny Channel. "We also use the opportunity to encourage the State to support the programme of ports because we believe that new programme on Blue Economy will attract trillions of dollars when fully invested in," he said.

Provides N1.99bn CNG vehicles for agency Okays N985m for body scanners in Lagos, Abuja airports Bans single-use plastics in MDAs

The federal government, yesterday, approved $1.442 million for the procurement of arms and ammunition for the National Drug Law Enforcement Agency (NDLEA).

Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, who made this known to newsmen after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the State House, Abuja, explained that his ministry submitted three memoranda on behalf of the NDLEA.

The AGF said FEC further approved a total of N1.9 billion for the purchase of 33 CNG-compliant vehicles for the use of the agency.

It also okayed the sum of N985 million for the procurement of two full body scanners for the Murtala Muhammed International Airport, Lagos, and the Nnamdi Azikiwe International Airport, Abuja.

He said the other two approvals were also in favour of the NDLEA, aimed at making improving the agency's operations.

"We discussed some other items today, three items in respect of the National Drug Law Enforcement Agency, otherwise known

as NDLEA. The first one is the procurement of 33 Mikano Maxus E60 motor vehicles, to boost the operation of the NDLEA at N1.9 billion.

"You will agree with me that it is important that we give support to the activities of NDLEA so the Council considered this and gave approval for the purchase of 33 Mikano vehicles and they are all CNG compliant.

"The second one is, again, purchase for the NDLEA this time is for the procurement of arms, ammunition and anti-riot equipment for counter-narcotics operations for the NDLEA. This is for the sum of $1.442 million.

"The third in the series is the procurement of two units of full body scanners at both Abuja and Lagos international airports to boost the operation of the NDLEA. This is at a cost of N985 million," the minister said.

FEC also approved a ban on the use of single-use plastics, also known as on-the-go plastics, in all federal ministries, agencies, and departments.

Minister of State for Environment, Adekunle Salako, who disclosed this at the post-FEC briefing at the State House, explained that the

move was in line with the 2022 National Policy on Plastic Waste Management and demonstrated the government's commitment to addressing the triple crisis of climate change, pollution, and biodiversity loss.

According to him, the ban aimed to reduce plastic waste, which is a significant contributor to flooding, ocean pollution, and human health issues.

"The Federal Ministry of Environment proposed and the Federal Executive Council approved that a ban be placed on the use of onthe-go plastics, what we know as single-use plastics, in all ministries, agencies and departments of the federal governments. This is in line with the 2022 National Policy on Plastic Waste Management.

"We must say that the discussion in EXCO was very smooth because all members of EXCO including Mr President was very enthusiastic about this ban. This ban is also in line with the commitment of Mr. President to ensure that Nigeria plays its part in ensuring that the triple crisis of climate change, pollution and biodiversity loss is frontally address.

"As you know, plastic is one of the key challenges that we face

when we go to our drains and when we talk about the issue of flooding, we find out that plastic waste is heavily incriminated. We also find out that plastic pollution is a major issue in our oceans, is a major issue affecting human health affecting our environment.”

Gideon Arinze in Enugu

Stakeholders in the nation’s gaming industry have said that the maiden Enugu State Gaming Conference, will open up opportunities that will contribute to Governor Peter Mbah’s $30 billion GDP target.

Executive Secretary of the Commission, Prince Arinze Arum, made this known while addressing newsmen ahead of the conference on Monday, June 27. Arum described the state as a land of opportunities, noting that the administration was determined to expand the opportunities further by positioning the state as a hub for gaming tourism.

Arum noted that the administration’s $30 billion GDP target would not only come from a single sector

but also other economic opportunities available to the state.

His words: “The conference, which will hold at the Amadeo Event Centre is poised to bring together industry stakeholders from both private and public sectors across the country and beyond to explore new opportunities and collaborations within the gaming sector. This reflects our commitment to fostering growth and development within the industry.”

Speaking further, he said that the forthcoming conference will not only showcase the immense potential of the gaming industry in Enugu State, provide a platform for meaningful discussions and collaborations, but also help to unlock the economic benefits and pave the way for Enugu State to become a gaming tourism destination.

Ahmad Sorondinki in Kano

In a surprise, albeit compassionate move, the Kano State Governor, Alhaji Abba Kabir Yusuf, has rescued Zainab Ado Bayero, daughter of the late Emir of Kano, Alhaji Ado Bayero, by settling her rent, a few hours to the deadline of her eviction notice. Yusuf, who is a cousin brother to the Bayero family, intervened following an outcry by the princess and her aged mother, who reside in Lagos.

A statement by the governor's spokesperson, Sanusi Bature, narrated how he met with the General Manager of the apartment, where the Ado Bayero family lived since

early this year, Mr. Sunel Kumar, who vowed to evict them by 3pm today.

"The governor's intervention followed an outcry in the newspapers by Princess Zainab Bayero on behalf of her mother and brother who were neglected by the royal family after the death of late Ado Bayero. "Zainab, her brother and her mother have been facing difficult times since the demise of the late Emir of Kano Alhaji Ado Bayero, due to the denial of their inheritance and being abandoned by the royal family," the statement stated.

According to Bature, Zainab Ado Bayero, a passionate documentary producer, recently worked on the

personality profile and documentary of her late father, Ado Abdullahi Bayero.

Receiving the representative of Kano State Governor, Bature, added that Zainab and her mother deeply appreciated the kind gesture of Yusuf, which came at the right time.

"You came at the right time. We were about to be forcefully evicted from the facility for our inability to pay the rent. They said today is final, we must move out by 3:00 pm and you came just fifteen minutes to the time, they have already mobilised youths to remove us out of the apartment. Alhamdulillah for your arrival," the statement added.

Deji Elumoye in Abuja

OLCA COACHING EXPERIENCE…

L-R:

Family Alleges Forceful Arrest of Son, Army Links Arrest to IPOB Activities

Ikechukwu Aleke in abuja

The family of Obinna Obi yesterday alleged that the military forcefully whisked away their son to an unknown location. Obinna Obi, an architect, is the President General of Umuaku Isuochi Development Union, in Umunneochi Local Government

Area of Abia State.

A statement by the family further said that their son was forcefully whisked away by military personnel led by a major without disclosing his offence or where they were taking him. The statement captioned “Save Our Souls,” also disclosed that Obi was arrested by the army and tied

Kogi Raises Revenue Base to N23.5bn Per Annum

Ibrahim Oyewale in Lokoja

Kogi State Internal Revenue Service (KGIRS) has disclosed that the Service has moved the revenue generation of the state from N6.5 billion to N23.5 billion per annum.

The Executive Chairman of KGIRS, Salihu Enehe, stated this during the 2024 stakeholders’ interactive session organised by the revenue body in Lokoja, Kogi State yesterday.

He explained the revenue generation of the state as at 2015 was pegged at N6.5 billion, stressing that due to the commitments and reforms introduced into tax collection the revenue tremendously improved to N23.5 per annum.

The executive chairman noted that the state government in the last eight years has used the tax payers money in providing infrastructure, quality education,

health, agriculture among others, appealing to tax payers in the state to endeavour to pay their taxes as at when due to enable the government do more for the people.

The Director in charge of MDAs and other Revenues, Dr. Olubunmi Ajayi, in his presentation on ‘Continuous Stakeholders’ Engagement for Effective Tax Administration’, urged tax payers not to pay cash to revenue officials.

He stated that the instruction was to eradicate all forms of illegality within the system, adding that the service had simplified process of tax payment through the banks, PoS and other means.

“Our taxpayers remains our valued assets in generating the necessary funds for social and economic development of the State, as they perform their civic responsibility in paying their tax obligations,” he stated.

on their truck and drove away.

The family said: “Nobody knows where they have taken him, nobody knows his whereabouts up till now. His

Edo

wife and children are in severe panic and can’t sleep anymore. Our aged mum in the village is equally in shock and panic over the sudden action of the

military. Little information we got is that this raid was carried out by an army major that is in charge of a military post at Lomara junction, along Isuochi.”

They further disclosed that he was picked up in Umuaku Market Square in front of his friend’s supermarket in broad day light.

PDP Candidate, Asue Ighodalo Engages Diaspora Community in Europe

Adibe EmenyonuinBenin-city

The candidate of the Peoples Democratic Party (PDP) in the September 21 governorship election in Edo State, Dr. Asue Ighodalo, shone brightly last Monday night at his first engagement with Edo Diaspora Community in Europe. The meeting, whichwas held at the Reggio, Emilia Via Cherubino

Forzani, Reggio Emilia in Italy, and monitored by THISDAY via zoom, recorded an impressive attendance. Ighodalo, who was accompanied by his wife, Mrs. Ifeyinwa Ighodalo, to the meeting, spoke extensively on his plan for Edo State to intermittent rapturous applause from the attendees.

The meeting, which coincided with the release of his widely

acknowledged Manifesto, ‘The Pathway to Prosperity for All’, saw him make copious references to the document which enjoyed massive rave review on social media upon release.

Ighodalo appealed to his audience to support his dream to make Edo State a first world sub-national in Nigeria, insisting that it’s doable.

According to him, “Our idea of a pathway to prosperity for all is done with a view to plan and implement the next phase of our journey towards becoming a first world sub-national.

“We have to harness our God-given resources and the immense potential of our people, and translate them into shared and inclusive prosperity for all.

Naira Abuse: Court Strikes Out Charge against Cubana Chief Priest, Fined N10m

Wale Igbintade

Justice Kehinde Ogundare of the Federal High Court in Lagos has struck out a charge against celebrity bartender, Pascal Okechukwu (Cubana Chief Priest) over alleged abuse of the Naira.

The judge struck out the charge

following the adoption of terms of settlement between Cubana and the Economic and Financial Crimes Commission (EFCC).

The EFCC had arraigned Okechukwu on April 17, on a three-count charge of allegedly spraying and tampering with the Naira notes during a social event in Lagos.

He had pleaded not guilty to the charge and was granted bail in the sum of N10 million.

At a last adjourned date on May 2, defence counsel, Mr Chikaosolu Ojukwu (SAN), had informed the court that parties were exploring settlement and had applied that

the matter be settled pursuant to the provisions of section 14(2) of the EFCC Act. Following the position, defence counsel had then applied for a withdrawal of a preliminary objection filed by defence, and since there was no objection from the prosecution, the court granted same.

Musawa, Hamza Idris, Others, Proffer Solutions Security Challenges

Agnes Ekebuike

Minister of Art, Culture and the Creative Economy, Hannatu Musa Musawa, has highlighted the vital role of cultural integration in promoting peace and security in Nigeria.

The minister made this

known at the North-west Peace and Security Summit, held in Katsina state from June 25 to 26, 2024, which brought together top government officials, security experts, and stakeholders to address the region’s security challenges.

A statement by the minister’s

Special Adviser on Media and Publicity, Nneka Ikem Anibeze, said Musawa, during a panel discussion titled ‘Exploring Kinetic and Non-Kinetic Strategies for Advancing Peace and Security’ Minister emphasised the vital role of cultural integration in promoting peace and security.

“The North-west region of Nigeria is at a crossroads, facing significant security challenges that have caused profound disruption. Yet, within this adversity lies the potential for transformation and renewal. Today, I emphasise the vital

Niger IDPs Lament Shortage of Food, Medicals, Calls for Govt’s Intervention

Laleye Dipo in Minna Internally Displaced Peoples(IDPs) in Niger State have cried out over lack of food and medicals in their camps and have therefore called on the government to salvage the situation.

Investigations revealed that the IDPs numbering over 42,000 are being camped in educational institutions and religious places of worship in Shiroro, Munya and Rafi local government areas of the state.

The IDPs, mostly women and children, were displaced

from their ancestral homes as a result of banditry and terrorist attacks which led to the killing of several men in the communities.

The investigations revealed that apart from shortage of food items and medicaments the IDPs also complained of

congestion with not less than 80 of them being accommodated in one classroom. Already cases of malnutrition are being reported in the camps with 50 children from the Zumba IDP camp reported to be undergoing treatment for lack of adequate food.

NYSC, Military, DSS, Police, Collaborate to Guarantee Corps Members’ Safety

Onuminya Innocent

inSokoto

The Sokoto State Coordinator of the National Youth Service Corps, (NYSC) Alhaji Usman Yakubu Yaro , has said thaty the Service is in touch with the Nigerian Military, the

Department of State Service (DSS), the Nigeria Police Force (NPF), and other critical stakeholders to guarantee the safety of corps members deployed to the State for 2024 Batch ‘B’ stream 1 orientation exercise.

Usman made the disclosure yesterday in his office while briefing Journalists in preparation for 2024 Batch ‘B’ Stream 1 orientation exercise, stressing that arrangements have been concluded to ensure the safety and security of corps

members posted to the State. He explained that the service had written to the various sister security agencies, asking them for security in all the routes that corps members utilise to reach their various camps.

Students, Gwallameji Residents Protest Incessant Armed Robbery Attacks, Rape

Segun Awofadeji in Bauchi

Apparently disturbed by incessant armed robbery attacks in Gwallameji community, the settlement hosting the Federal Polytechnic, Bauchi, students and

other residents of the community yesterday trooped to the main gate of the institution, blocked the federal highway to protest.

THISDAY checks revealed that the protest was against several cases of armed robbery attacks on about

35 different students lodges in Gwallameji, located outside the campus of the polytechnic in the state capital.

THISDAY learnt that the protesters used old tyres and other items to block free-flow of

traffic on the busy Bauchi -Tafawa Balewa road thereby paralysing commercial and social activities for a few hours before the arrival of a team police personnel which used canisters of tear gas to disperse the crowd.

Housekeeping Manager at Black Diamond, Sabine Bacha; Group Human Resource Director, Black Diamond, Titi Awe; Chief Catalyst at OLCA Coaching Limited, Dr Lanre Olusola, and General Manager, Farfallino Restaurant, Bernard Zaaatar, at the OLCA Experience Coaching Master class in Lagos…recently

NBA Draft: Will Bronny Joins Dad LeBron at Lakers?

The American National Basketball Association (NBA) draft takes place this week and many fans will be eager to find out where LeBron James' son Bronny ends up. The first-round draft starts today, June 26, with the second round on Thursday 27.

One common theory is that Bronny could be picked by the Los Angeles Lakers to play alongside his father for what is predicted to be LeBron's final year on-court.

The 19-year-old has completed his first year of college basketball with the University of Southern California

Trojans, where he averaged 4.8 points and 2.1 assists per game.

Unlike his father, who stands at 6ft 9in and is the NBA's leading all-time scorer, Bronny is 6ft 1in and is more of a defensive player.

However, being the son of a fourtime NBA champion and four-time Most Valuable Player brings extra attention along with it.

Bronny has 7.7 million Instagram followers and pundits have followed his journey for years.

Despite that, his path has not been entirely smooth. Bronny had a cardiac arrest in training last July,

meaning he was only cleared to return to basketball last November, having been found to have a congenital heart defect.

Lakers veteran LeBron, 39, is likely entering the final year of his career and could become a free agent this summer by declining his $51.4m (£40.6m) player option when the window opens at the end of June.

But could Bronny be used as a makeweight to tempt LeBron into a new contract?

Following the All-Star game in 2022, the four-time NBA champion told reporters, "my last year will be

played with my son".

Earlier this month, the Lakers named television pundit and former player JJ Redick, who also co-hosts a basketball podcast alongside James, as their new head coach.

With no prior coaching experience, the 40-year-old former Orlando Magic and LA Clippers shooting guard may look to build a team around LeBron.

The Lakers have the number 17 and number 55 picks in the draft . They are also one of only two teams, along with the Phoenix Suns, who Bronny has worked out with before the draft.

Uninspiring France Second in Group D, Austria Stun Netherlands

Belgium, Ukraine, others battle for Round of 16 live on GOtv

A Kylian Mbappé penalty was cancelled out by Robert Lewandowski's spot kick as already-eliminated Poland held France to a 1-1 draw in Dortmund on Tuesday, meaning the French finish second in Group D.

Elsewhere in the group, Austria produced a hugely impressive performance that will make others take notice at Euro 2024 as they beat the Netherlands 3-2 to progress to the last 16 as Group D winners.

Despite being handed a tough draw with the Dutch and France, Ralf Rangnick’s side won two of their three games to finish top of the standings.

The Netherlands had already guaranteed their progression to the last 16 but they will now go through as one of the best third-placed sides.

Mbappé broke the deadlock in the 56th minute with his first European Championship goal -- and the first scored by a French player at Euro 2024 -- when he calmly slotted home a penalty given for Jakub Kiwior's clumsy challenge on Ousmane Dembélé.

But Dayot Upamecano brought down Polish substitute Karol Swiderksi, which allowed Lewandowski to level from the spot in the 79th minute -- after his first effort was saved by Mike Maignan, who was adjudged to have advanced off his line too early.

The draw means France finish second in Group D behind Austria and will face whoever comes second

RESULTS

EURO 2024

in Group E, where Romania, Belgium, Slovakia and Ukraine are all on three points.

It is the first time France have failed to finish top of their group at a major tournament in 12 years under manager Didier Deschamps.

It was another uninspired performance by France, who lacked imagination from top to bottom. They dominated possession but were denied by Poland's excellent goalkeeper Lukasz Skorupski who made a string of decent saves to deny Mbappé, Theo Hernández, Ousmane Dembélé and Bradley Barcola´s close-range efforts.

Meanwhile, the quartet of Romania, Belgium, Slovakia and Ukraine will grapple for victory today to earn a coveted slot in the Round of 16 of the ongoing Euro 2024 tournament. The matches will be broadcast on GOtv.

Each of these teams is tied on three points each in Group E having recorded a win and loss in their first two games in the group.

Romania commenced their campaign with a 3-0 victory over Ukraine, while Belgium slumped to a 0-1 defeat against Slovakia. The Red Devils redeemed their image with a 2-0 victory over Romania in the second game, while Ukraine earned their first three points in a 1-0 win over Slovakia.

The final round of games in the group will see Slovakia take on Romania on GO Select 2 (ch 64), while Ukraine and Belgium will clash on GO Football (ch 61) simultaneously at 5 pm.

In Group F, the trio of Turkiye, Czech and Georgia will be jostling to join Portugal in the Round of 16.

Portugal’s bid for a second Euro title got off to a blistering start as they opened their campaign with a 2-1 victory over Czech and then followed it up with a 0-3 victory over Turkey.

Propel Applauds Elegbeleye on Record Number NPFL Matches Live Streaming

Femi Solaja

A major feat in live coverage of matches of the Nigeria Premier Football League (NPFL) was accomplished on the final matchday of the 2023/24:season by Propel Sports Africa which streamed nine of the 10 games in its NPFL_Live app.

It is an achievement that got stakeholders applauding the NPFL Streaming Broadcast partners as such number of matches have never been achieved on any platform in the history of the league.

new season.

"We look forward to the 2024/2025 season and beyond for further growth and success as we seek to invest in more sophisticated infrastructure to offer viewers an improved broadcast on the OTT platform," he continued.

He went on to describe the just ended season as a learning curve

which turned out to be a huge success.

"It is the first time in Africa, if not globally, that AI Cameras have been deployed in this magnitude to cover over 300 matches in a season and we are proud of our Nigerian crew who learnt and operated the facilities within a very short period",

the Propel boss reflected. He said the company investment includes the deployment of 10 AI Cameras in Nigeria; hiring and training over 80 Technicians and Commentators and investment in local telecommunications and Starlinks for broadcast streaming uploads.

The leadership of Football Coaches Association of African Nations (FCAAN) has congratulated two of its members Fidelis Ilechukwu and Ekene Ikedilichukwu, Enugu Rangers’ Head Coach and Team Scout respectively over the Flying Antelopes victory in the 2023/2024 NPFL season.

FCAAN President, Dr Terry Eguaoje, while congratulating the duo, said the 2023/2024 NPFL season was highly competitive and challenging.

He commended Rangers doggedness which saw them emerging champions of the N150million price-tagged league.

Eguaoje said Ilechukwu has remained consistent as top coach

in the Nigerian league and was not surprised that he led Rangers to an outstanding season to emerge champions and also pick a ticket to represent Nigeria in the money spinning CAF Champions League next season.

Eguaoje said the entire FCAAN family felicitated with Rangers and urged the team to improve on its grey areas and bolster the squad with quality players to give Nigeria a good representation in the prestigious Champions League. The win for Rangers is their second in 30years after the team picked a total of 70 points to emerge as the champion of the 2023/2024 NPFL season.

Chairman of Propel Sports, Basil Kabbani, explained that the company chose the final day to push for total coverage to ensure that millions of soccer loving Nigerians are able to see their beloved teams perform and watch the final climax to the season.

"With the most sophisticated Artificial Intelligence (AI) cameras employed, we aimed to make Nigeria one of the world leaders in sports broadcasting, and Propel salutes the wisdom and courage of NPFL Chairman, Hon Gbenga Elegbeleye and the NPFL board, GTI and the President of the NFF, Alhaji Ibrahim Gusau in championing this fabulous initiative", Kabbani remarked.

He assured the clubs and fans that Propel would be investing more on infrastructure to ensure seemless Streaming of more matches in the

Chairman of Nigeria National League (NNL), Mr. George Aluo, has charged NNL side, El Kanemi Warriors of Maiduguri to go all out and win this year's President Federation Cup.

The finals of the most glamorous football competition in the country tagged the “Battle of the Warriors’' will take place on Saturday, June, 29, 2024 between El Kanemi Warriors and NPFL side Abia Warriors at the Mobolaji Johnson Arena (Onikan), Lagos.

El Kanemi who have won the competition twice in 1991 and 1992 got to this year's finals by eliminating fellow NNL side, Kebbi United 5-4 on penalties after their semi-final game ended goalless at regulation time while Abia Warriors playing their first ever cup finals beat fellow NPFL side, Kano Pillars 4-3 on penalties after their game ended 0-0.

Speaking on the finals, Aluo noted

that the fine run of El Kanemi in both the second tier league and the Federation Cup is an indication that they can lift the trophy for the third time, urging them to maintain their winning run in the finals just as he stated that their victory would further prove that NNL is truly the most important league in the country.

According to Aluo, the number of NNL teams that made it to the quarter-finals and semi-finals of the FA Cup shows how solid the league is and the good work done by the league body and expressed confidence that the three other promoted teams will do well in the NPFL next season.

"As football fans eagerly awaits the finals of this year's Federation Cup, I must commend the NFF and their strategic partners, GTI for what they have done to bring back the glamour of the most prestigious football tournament in the country.

"History will always remember them as those who changed the narratives of Nigerian football and I will be ever grateful to them", he concluded.

The winner of the President Federation Cup will represent Nigeria in the CAF Confederation Cup along side Enyimba FC of Aba.

The NNL boss also commended Nigeria Football Federation ( NFF) and their strategic partners GTI Assets Management & Trust Limited for bringing back the glamour of the most prestigious football tournament in the country.

Captain Kylian Mbappe (right with ball) scored as France were pecked in the 1-1 draw with Poland at the ongoing EURO 2024 in Germany

LeBron James (left) and his son Bronny on the path to playing together in the NBA next season

MISSILE

Shehu Sani to Atiku, Buhari

“The recent visits by some prominent northern politicians (Atiku, El-Rufai) to Daura... it’s surreptitiously a new attempt...to challenge and evict President Tinubu’s government in 2027. Buhari’s reign ensured nepotistical placement, installation and dominance of northerners at strategic positions of authority and power for eight years...they only enriched themselves, pillaged the economy of the country” --FormerSenatorShehuSani,allegesthat AtikuAbubakarandCo’svisitstoBuhari,IBB,Abdulsalami,partofnorthernplotfor2027.

ERICTENIOLA

gu EST COL um NIST

National Anthem and the Military Legacy

On Friday November 18, 2011, Asiwaju Bola Ahmed Tinubu, former Lagos State Governor and National Leader of the Action Congress of Nigeria, ACN, called for a referendum to gauge the preference of Nigerians on the two national anthems that the country has had since independence.

Asiwaju Bola Tinubu made the call while presenting a paper, titled “MANAGING NIGERIA’S PLURALISM FOR PEACE AND NATIONAL DEVELOPMENT”, at the Nigerian Institute of Policy and Strategic Studies, NIPSS, Kuru, Jos, Plateau State.

According to Asiwaju Bola Tinubu, managing Nigeria’s pluralism for peace and national development is an issue that should be deeply examined.

“From the beginning of our journey to nationhood, the founding leaders built a country diverse but united. The opening lines of the national anthem we had at independence in 1960 drove home this diversity and our fraternal resolve to build one nation” he stated.

Asiwaju Bola Tinubu, however, explained that the pogrom in the mid-60s in some parts of the country and the attendant civil war showed that as a people, we have failed to live up to the spirit of that anthem.

“It showed that the leaders and the followers at the time only paid lip service to the injunction of the anthem: Though tribe and tongue may differ, in brotherhood we stand. We failed miserably to deploy this mantra for peaceful co-existence and national development, Asiwaju Bola Tinubu said.

The ACN leader said abandoning the postindependence anthem, which arguably evoked a strong spirit of patriotism and brotherliness, to compose a very drab replacement, is far less inspirational.

“It was an example of the inconsistency in government thinking; moments when our leaders make unjustifiable about turns as Fela, the afro-beat musician would have put it” he stated.

The ACN leader challenged the graduating class and the alumni of NIPSS to develop new ideas towards accelerating national development and promoting peace in the country.

“In several areas, Nigeria is stuck in the past, applying decadent policies to new, and more virulent problems. But at moments like this, the nation turns to the National Institute for new ideas that should make us break from the moribund past” Asiwaju Bola Tinubu stated.

While marking his first anniversary as President of the nation on Wednesday 29th May, President Bola Tinubu signed a Private Member Bill on National Anthem. With the signing of the Bill, he turned the old anthem to a new one and the new one to an old one.

The old anthem of the NIGERIA WE HAIL THEE was adopted as Nigeria’s National Anthem on October 1, 1960. The anthem’s lyrics were written by Lillian Jean Williams, a British expatriate who lived in Nigeria when it achieved independence. Frances Brenda composed the music for “NIGERIA, WE HAIL THEE.” She got a prize of $280 American dollars for composing the song. Six Judges made the selection of Frances Brenda’s entry as the winning music for “NIGERIA, WE HAIL THEE.” The Judges were Professor Fela Sowande, Mr. O. Omideyi, Mr. T.K.E. Phillips, Mr. W.C. Echazona, Mr. M.C. Majekodunmi and Mrs H. Lawson.

One of the Judges, Professor Olufela Obafunmilayo “Fela” Sowande MBE (29 May 1905 – 13 March 1987) was a Nigerian musician and composer. Considered the father of modern Nigerian art music, Sowande is perhaps the most internationally known African composer of works in the European “classical” idiom. Professor Sowande was born in Abeokuta, the son of Emmanuel Sowande, a priest and pioneer of Nigerian church music. As a child he sang in the Choir of the Cathedral Church of Christ, Marina, Lagos. He studied at the C.M.S. Grammar School and at King’s College, Lagos. The influence of his father and Dr T. K. Ekundayo Phillips (composer, organist and choirmaster) was an important factor in his early years. Through Phillips, Professor Sowande was first exposed to European church music like Bach and Rheinberger. At that time, Professor Sowande was a

chorister and was introduced to new Yoruba works being introduced into the churches. Under Phillips’ tutelage, Professor Sowande earned the Fellowship Diploma (FRCO) from the Royal College of Organists. At that time, he was also a bandleader, playing jazz and popular highlife music.

In 1952, Professor Sowande became musical director of the Nigerian Broadcasting Service; in 1955 he was appointed MBE in the 1955 Queen’s Birthday Honours for this work. In 1962 he travelled to the United States on a Rockefeller Foundation fellowship. In 1968, he moved to Howard University in Washington, D.C., then to the University of Pittsburgh.

His colleagues included Samuel Akpabot (1932-2000), Ayo Bankole (1935-1976), Lazarus Ekwueme (born 1936), Akin Euba (1935-2020), Adam Fiberesima (1926-1975?), Josiah Ransome-Kuti (1855-1930) and Ikole Harcourt Whyte (1905-1977).

He composed several songs including his famous song OYIGIYIGI OLU ORUN, ATOBAJAYE ATOBIJU, a popular gospel Yoruba song.

The Anthem lasted till October 1, 1978 when General Olusegun Obasanjo GCFR, discarded the “NIGERIA, WE HAIL THEE” and replaced it with “ARISE O COME PATRIOTS”.

ARISE, O COMPATRIOTS was the national anthem of Nigeria used from 1 October 1978 until 2024 after NIGERIA, WE HAIL THEE was relinquished. On 29 May 2024, “ARISE, O COMPATRIOTS” was officially relinquished and replaced by the first national anthem, “NIGERIA, WE HAIL THEE” which was earlier used from 1960 until 1978.

General Olusegun Obasanjo changed the National Anthem on October 1, 1978, twelve months before handing over to President Usman Aliyu Shehu Shagari GCFR (25 February 1925 – 28 December 2018).

In 1978, General Obasanjo, initiated moves to change the national anthem of “NIGERIA WE HAIL THEE”. He called for entries. He said at that time that a new national anthem was required because the previous one was composed by a British expatriate. The lyrics of the anthem were taken from five of the best entries in a national contest. The winners were P.O. Aderibigbe, John A. Iliechukwu, Dr. Sota Omoigui, Eme Etim Akpan and B.A. Ogunnaike.

A police officer, Benedict Odiase (August 25, 1934 – June 11, 2013) was tasked with putting the poem to music. He did this by creating a melody that would capture the patriotic and aspirational spirit of the poem. In 2001, he received the Order of the Niger Award by President Olusegun Obasanjo for his composition of the National Anthem.

However, General Olusegun Obasanjo did not change the lyrics of the National Pledge which was created by Professor (Mrs) Felicia Adebola Adedoyin in 1976. Professor Adedoyin who was born on the 6th of November, 1938 is the second of 6 children and a princess from the Iji ruling house of Shaki in Shaki West Local Government of Oke Ogun area of

Oyo State.

Her children were already acquainted with reciting the Oath of Allegiance in their school in New York, USA and also the State Pledge (Which was introduced on 1 June, 1976) in Achimotu School in Accra Ghana. Instinctively, out of childhood inquisitiveness and assertiveness, they sought to know why they didn’t recite any Pledge while they were in Nigeria. Of course their mother told them the home truth; their fatherland had no National Pledge. They eventually provided the necessary challenge that propelled their mother to conceive and originate a National Pledge for Nigeria, which she achieved in June 1976.

Her creative work while aged 38, was featured in the Daily Times of July 15, 1976 in an article titled “Loyalty to the Nation, Pledge”.

Barrister Adewusi who was a mutual friend of the Adedoyins and Gen. Olusegun Obasanjo, read the Daily Times article and eventually presented it to General Obasanjo in August 1976.

Gen. Obasanjo, who was then Head of State, accepted the work and modified it.

In September 1976, he decreed that all school children should recite the Pledge in their assemblies daily. Gen. Obasanjo acknowledged this in his book “Not My Will” (1990 at pg. 118).

On May 23, the House of Representatives passed a Private Member Bill to revert to the old National Anthem. The Bill quickly passed first, second and third reading within minutes. It was unprecedented. The lead debate for a return to the old anthem by the House Leader, Professor Julius Ihonvbere, pointed to the need for Nigerians to see the anthem as a national symbol and sign of authority, one which does not deny the realities.

On May 28th, the Senate passed the same Bill into Law. It was introduced by the majority Leader in the Senate, Senator Michael Bamidele Opeyemi(60) from Ibedoyin quarters Ward B, Iyin Ekiti in Irepodun/ Ifelodun Local Government Area(Araromi LCDA) of Ekiti State. At present he is representing Ekiti Central in the Senate.

Asiwaju Ahmed Tinubu has always been his Godfather. He made him a Commissioner in Lagos state and he has always piloted his political career till date.

His 406-page book titled “LEADERSHIP THROUGH COMMMUNICATIONS”, in two volumes with ten chapters, is a good read.

The man who hurled a flaming spear into a hornets’ nest by sponsoring the bill on National Anthem is Professor Oluwakayode Julius Ihonvbere (68), a man who is always on the move. He is representing Uzebba in Owan Constituency in the House of Representatives.

Uzebba is a Town in the Owan local council of Edo State. Uzebba, along with its neighbouring towns and villages, Avboisi, Okpuje, Ukhuse-Osi, Ukhuse-Oke in Owan, Etsakor, and Akoko Edo, are known as Afemai. They collectively make up Edo-North Senatorial District.

Uzebba is the last border post between Edo state and Ondo state. A long bridge separates Uzebba in Edo state and Ifon in Ondo state. The last time I passed through that road in 2006 was when I attended the funeral of the former Secretary to the Government of the Federation, Chief Gray Adetokunbo Eromose Longe, who served as SGF between January 1 1984 and January 11 1986, at Sabongida Ora.

Owan has produced eminent sons and daughters including Frank Aigboje Aig-Imoukhuede, Grace Alele-Williams, Francis Abiola Irele, Olusegun Olutoyin Aganga,Mai Atafo Yisa Braimoh, Michael Imoudu, Dele Momodu, DJ Neptune, Aize Obayan, J. D. ‘Okhai Ojeikere, Modupe Ozolua, Mabel Segun, Ambrose Vanzekin and others.

Professor Ihonvbere was born in the ancient city of Oyo in Oyo state. He attended CMS Primary School in Oyo, St. John’s CAC School, Warri, and Edo Boys High School in Ugbowo, Benin City, where he obtained the West African School Certificate. He took his B.A. Combined Honors degree in history and political science from the University of Ife (now Obafemi Awolowo University).

He is a disciple of Professor Claude Ake (February 18, 1939-November 7, 1996) from Omoku in Rivers State, the famous novelist who died in a plane crash. Professor Ihonvbare is also very close to Mr. Patrick Ayodele Aderinwale, executive director Leadership Forum in Ota, Ogun state. who is equally close to former President Obasanjo. He was one of the speech writers of the former President. The two others were Mr. Ad’Obe Obe and Dr. Stanley Macebuh, who died on March 7, 2010 at 67.

In THE VILLA then, the speech writers were designated as special advisers to the President on Policy and Programmes Monitoring. While Mr. Ad’Obe Obe published a book “A NEW DAWN” in three volumes, Professor Ihonvbere published “STANDING TALL”. In a foreword to the book, which was published in March 2005, he declared “Politics is more than just elections, counting th votes and being sworn into office. To be sure, these aspects of politics are important. However, in developing social formations, politics should and must be about people, community and society. Politics must reflect the basic elements of service, mobilization, education, inclusion, and healthy competition for power. It must be about platforms and programmes as well as training for new leaders. Politics must be an opportunity for the marginalized and voiceless to reach some accommodation with their leaders and for political parties to identify, select and present the best candidates for political office. Electioneering campaigns, through ultimately about the contestation for power, should be about health rivalry, articulation, processing and delivery of realistic and sustainable programmes that will impact on and improve the lives of the majority. Finally, politics, in plural societies like Nigeria, must be about opportunities to construct and nurture bridges between not just the islands of integrity but also between communities and constituencies.

Unfortunately for many countries, they never go near these attributes or features of politics. Political opportunities are simply squandered on the altar of political greed and rascality, policy indiscipline, intolerance, limited vision, and the subversion of a sense of a nation. The net result, quite often include the delegitimation of the state, its institutions and custodians, the reification and abuse of power, misplaced priorities, instability, corruption, and uncertainty. The implications of these trends and tendencies are very well known to many Nigerians as have gone down this path before. However, history can be kind to a people, though not for too long. Some luck nations even get a second chance to put things right, learn from the past; restructure the present and reposition society for a progressive future. This is the case with Nigeria. We are getting not just a second, but a third chance to reposition the country for the greatness that God has rightly given to us and for which we have sacrificed so much in the past.

There are of course, several obstacles to repositioning Nigeria for growth, stability, and democracy. First is the rather pedestrian understanding of democracy. Often, Nigerians confuse it with its ephemeral features thus neglecting the deepening and grounding that is required for consolidation and sustainability. Second, is that the long years of military dictatorship, political rascality among the elites, insensitivity to the plight of the poor and the cultivation of culture of waste and corruption had built in the people an attitude of “I know everything,” “all public officers are thieves,” “it will soon fail,” “ and “dem go soon taya”. Trust, tolerance, mutual support and confidence have been eroded from the system through bas governance and poor leadership. A third problem is that Nigerians, over the last four decades got used to doing things the wrong way, came to like it and found easy scapegoats for their failures. Consequently, people have designed extra-legal coping mechanism and strategies for survival in an increasingly tough socio-economic environment. The direct consequence of this strategy of survival is that less attention is paid to safety nets, productivity, accountability, and due process.

President Bola Tinubu