WEDNESDAY 29TH JUNE 2022 by THISDAY Newspapers Ltd

Two Years After, NUPRC Closes Out 2020 Marginal Oilﬁelds Bid Round Unveils template, procedure guide for host communities’ development trust FG rakes in N200 billion, $7m with 70% full payment Kyari: Over 200 illegal refineries operating in Nigeria Emmanuel Addeh and Udora Orizu in Abuja The Nigerian Upstream Petroleum

Regulatory Commission (NUPRC) yesterday finally closed out the 2020 marginal oilfields bid round two years after the process commenced.

This was just as the Group Managing Director (GMD) of Nigerian National Petroleum Company (NNPC) Limited, Mr.

Mele Kyari, yesterday lamented that none of the government-owned refineries are presently working, even as he revealed that there

were over 200 illegal refineries being operated across the country. With the issuance of the Petroleum Prospecting Licences

(PPL), the winners of the awarded oilfields can now move to site for Continued on page 10

NAICOM Revokes Standard Alliance, Niger Insurance's Operating Licences... Page 5 Wednesday 29 June, 2022 Vol 27. No 9941. Price: N250

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Jonathan: I Didn’t Implement 2014 Confab Report Because I was Conﬁdent of Victory in 2015... Page 42

Desperate to Stave Off Mass Defection, Buhari Meets 22 Aggrieved APC Senators Says their threat to defect can affect party's fortunes Deji Elumoye and Sunday Aborisade in Abuja President Muhammadu Buhari, yesterday, met with 22 angry sena-

tors of the ruling All Progressives Congress (APC) in an attempt to stop their planned defection. The meeting was held at the Council Chambers of State House, Abuja.

The affected senators included Smart Adeyemi, Frank Ibezim, Danladi Sankara, and Ibrahim Oloriegbe. They were led to the meeting by Senate Chief Whip,

Senator Orji Uzor-Kalu. The president noted the concerns of the senators, who failed to secure the party's return ticket to the Red Chamber. He said their exit would

affect the future of the ruling party, saying, however, that he praised the senators’ effort to find a solution. The president assured them that as the leader of the party,

part of his role was to create the environment for members to ventilate their grievances. Continued on page 10

Like Tinubu, APC’s Vice Presidential Placeholder, Masari, Declares Certiﬁcates Missing It’s a non-issue, says Uzodinma Action Alliance asks court to restrain INEC from listing ruling party, Tinubu for 2023 presidential poll Deji Elumoye, Chuks Okocha and Alex Enumah in Abuja In a strange coincidence, documents submitted by the vice presidential candidate of the ruling All Progressives Congress (APC), Mr. Ibrahim Masari, to the Independent National Electoral Commission (INEC) have revealed that the placeholder, like the principal candidate, Senator Bola Tinubu, could not also produce requisite certificates to back his stated academic qualifications. But Imo State Governor Hope

Uzodinma said the certificate debate around his party’s presidential duo was of little or no importance, stressing that Tinubu’s past electoral records would suffice. However, the Action Alliance (AA) asked a Federal High Court to restrain INEC from including APC and its candidates on the ballot for the 2023 presidential election. In an effort to meet the deadline for the submission of nomination Continued on page 10

PRESENTATION OF PROSPECTING LICENCES TO MARGINAL FIELD AWARDEES...

L-R: Minister of State, Petroleum Resources, Chief Timipre Sylva and Commission Chief Executive (CCE), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, at the oﬃcial presentation of Petroleum Prospecting Licences (PPLs) to successful marginal ﬁeld awardees and the unveiling of the Host Communities Development Regulations in Abuja yesterday

Senate: Supreme Court Verdict on Electoral Act, Victory for Democracy... Page 43

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NEWS

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

PRIVATE SECTOR INTERACTIVE MEETING WITH SANWO-OLU... L-R: Vice President, Lagos Chamber of Commerce and Industry (LCCI), Mrs. Bamidele Daramola; Deputy President, Mr. Gabriel Idahosa; Past President, Mrs. Nike Akande; Chief John Odeyemi; Lagos State Governor, Mr. Babajide Sanwo-Olu; President, LCCI, Dr. Michael Olawale-Cole; Director General, Dr. Chinyere Almona and Deputy President, Mr. Knut Ulvmoen, during the LCCI Private Sector Interactive Meeting with the governor at Victoria Island...yesterday

NAICOM Revokes Standard Alliance, Niger Insurance's Operating Licences Appoints receivers/liquidators to wind down firms James Emejo in Abuja The National Insurance Commission (NAICOM), yesterday wielded the

big stick by announcing the cancellation of the operating licences of two insurance companies - Standard Alliance Insurance Plc and Niger

NCDMB Sensitises Law Enforcement Agencies on Local Content Act Olusegun Samuel in Yenagoa The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has called for collaboration between all stakeholders including the law enforcement agencies to ensure that the target of the local content act was achieved. Speaking at a sensitisation program for law enforcement agencies in Yenagoa, Bayelsa state, he said the level of Nigerian content in the oil and gas industry had increased to 42 per cent from just five per cent in 2010, before the passage of the Nigeria Oil and Gas Industry Content Development (NOGICD) Act. With the theme, 'Deploying Multi-Institutional Approach to Nigeria Content Enforcement in the Oil and Gas Industry,' the one-day sensitisation workshop drew participants from all the law enforcement agencies including the Economic and Financial Crime Commission (EFCC), the Independent Corrupt Practices Commission (ICPC) and the security agencies. According to Wabote, the essence of the workshop was to ensure that NCDMB was able to bring in relevant stakeholders to support local content implementation and enforcement for a better result.

He said, "I think the two most important significant ones is to enlighten stakeholders on what we do, how we do it and the results we have been able to achieve. "Then the second is also to highlight to them the role they are required to play and the role to play when that intervention is needed in order to help us strengthen local content enforcement. "We have custom, EFCC, ICPC, DSS, these are all law agencies, they all have a role to play as we implement the Act, so these are the two significant aspect of the workshop.” In his welcome address, Head of Legal Services, NCDMB, Naboth Onyesoh, said it was important that other agencies connected with economic activities understand what the mandate of the agencies was all about so they can support to ensure compliance with relevant requirements within the oil and gas industry. "The idea is that local content is like a big load which no single entity can carry alone, it is a national economic agenda geared towards employment creation, industrialization, ensuring capital retention in the country and so many activities revolving around the oil and gas industry,” he added.

Insurance Plc. The insurance regulator, in a statement issued by its Head, Corporate Communications and Market Development, Mr. Rasaaq Salami, said the revocation took effect from June 21, 2022. Following the development, the Commission further disclosed that it had appointed Sanya, Ogunkuade Esq as the Receiver/Liquidator for Niger Insurance and, Kehinde Aina Esq as the Receiver/Liquidator for Standard Alliance Insurance to

effectively commence the process of winding down both entities. NAICOM also advised all stakeholders to forward their inquiries to the respective Receiver/ Liquidator for each company for their necessary action. The Commission, nevertheless, assured all stakeholders of the safety and protection of their interests. Although no immediate reason was given by the regulator for descending on both insurance

The controversy surrounding the running of the Niger Delta Development Commission (NDDC) with a sole administrator has continued to rage with a group under the aegis of the Niger Delta Elders Forum (NDEF) coming hard on those allegedly supporting it operating without a board. The group in a statement signed by its National President, Chief Tonye Ogbogbula specifically chided the sole administrator of NDDC, Effiiong

Akwa and his Special Adviser, Udengs Eradiri for allegedly claiming that “the existing Act establishing the NDDC is obsolete.” According to the NDEF, such disregard to the extant law was, “most ludicrous affront on the entire Niger Delta region, NDDC, and the subsisting law governing the administration of NDDC.” The elders stated that the, "errant temerity" displayed by Eradiri was a clear and dangerous signal that, "the present administration is unwilling to comply with the present provisions of the extant law

the industry. The company’s financial performance also worsened in 2021 with a deficit of N2.63 billion. In addition, its gross premium recorded in 2021 also dwindled by half to N515.8 million, which was significantly below the N1.03 billion reported during the corresponding period of 2020. Its weak financials reportedly prevented it from paying insurance claims which had were due to clients.

Russia-Ukraine War: Buhari’s Aides Seek Debt Relief, More Rapid Loans for Developing Nations Want int'l financial architecture rejigged Ndubuisi Francis in Abuja Two presidential aides, Dr. Adeyemi Dipeolu and Louisa Chinedu-Okeke, have called on the multilateral financial institutions and the global community to see the ongoing Russia-Ukraine war as an exogenous shock to developing countries deserving of support to help weaker nations weather the storm. Dipeolu is the Special Adviser to President Muhammadu Buhari on Economic Matters, while Louisa Chinedu-Okeke is Special Assistant to the President on Finance. In an article captioned, "Sovereign Debt Sustainability in Developing Economies: The Imperative of Global Action," which was published by

the International Banker magazine, the presidential aides said the shock unleashed by the war called for urgent steps to offer debt relief to emerging markets and developing economies (EMDEs), provide them with more rapid loans under less stringent conditions and issue another large allocation of Special Drawing Rights (SDRs). The presidential aides argued that as a result of the war in Ukraine, the International Monetary Fund (IMF) had reduced its projections of growth in EMDEs by a full percentage point, adding that a worsening of the situation may result in another global slowdown. "This being the case, there is no reason why urgent steps should not be taken to offer debt relief to

Niger Delta Elders Berate NDDC Boss, Adviser for Allegedly Supporting Its Operation Without Board Emmanuel Ugwu-Nwogo in Umuahia

firms, THISDAY however learnt that NAICOM had written to Niger Insurance on March 31, 2022, allowing the company a 30-day period to convince the Commission and the Ministry of Finance that it could resolve its operational challenges. The management had also failed to salvage the company’s fortunes which further nosedived in 2021, after previously recording a N2.09 billion loss in 2020, when the COVID-19 pandemic ravaged

and will continue to operate with an illegal sole administrator ship." While frowning at the NDDC adviser's insistence that the administrator ship would be sustained, "in breach of the existing NDDC Act until it is amended by the federal government,” NDEF said such position was at variance with what Niger Deltans want. Therefore, the group described, "Eradiri’s latest outburst as an unwarranted provocation of no mean proportion on the region, an embarrassment to President Buhari’s Government that prides

itself on adherence to rule of law." The group said it could not understand what emboldened a federal government appointee (Eradiri), "to utter reckless statement that unabashedly rubbishes our nation’s subsisting law - the NDDC Act,” knowing that he is occupying his office "in violation of the NDDC Act" On the forensic report which was submitted to President Buhari on September 2, 2021, NDEF expressed dismay that Eradiri “flippantly" comContinued on page 43

EMDEs, provide them with more rapid loans under less stringent conditions and issue another large allocation of SDRs. "This being the case, there is no reason why urgent steps should not be taken to offer debt relief to EMDEs, provide them with more rapid loans under less stringent conditions and issue another large allocation of SDRs," they said. The IMF had last year issued SDRs which are international reserve assets, totaling $650 billion to help mitigate the impact of the COVID-19 pandemic especially on poor countries. Nigeria benefited from the SDRs to the tune of $3.4 billion. Dipeolu and Chinedu-Okeke also alluded to a looming debt crisis in the EMDES and called on the international community to reconsider the existing financial architecture in a manner that helps to prevent or manage the emerging global debt crisis. The presidential aides explained that the looming crisis had the potential to create widespread economic distress for a majority of the world’s population. "If this was not clear before, it has certainly become clearer after listening to the Managing Director of the IMF, Kristalina Georgieva. At her press conference at the 2022 Spring Meetings of the IMF and the World Bank Group, she stated that 60 per cent of low-income countries are “at or near debt distress” and at least 20 African countries fall into this category. "The situation in Sri Lanka shows just how fraught the situation is

becoming. In April 2022, roughly two years after the onset of the COVID-19 pandemic and about two months after the start of the Russia-Ukraine war, Sri Lanka announced a temporary default in foreign-debt repayments amidst a severe economic crisis. "Inflation has surged, the currency has been devalued, commodities are in shorter supply and citizens have taken to the streets in mass protests. Sri Lanka has a total of $4 billion in repayments falling due within the year, while its foreign reserves are $1.93 billion. "It claims to have been consistent in servicing its debt until recent global events affected its finances. As a result, it is calling for restructuring its debts and will likely need additional loans to revive its economy," they said. They added: "This is just one of many emerging markets and developing economies on the verge of a debt crisis. Sri Lanka maybe one of the more severe cases, but its condition does underscore the scale and severity of the situation of many developing countries, with different situations depending on the currency and composition of debt and national fiscal space." According to them, given the number of countries facing these challenges, a significant portion of the world’s population was at risk of falling into poverty, stressing that at best, a debt crisis of this magnitude threatens economic recovery in EMDEs. Continued on page 6

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NEWS

5TH LAFARGE AFRICA CONCRETE IDEAS HELD IN LAGOS... L-R: Ogun State Commissioner for Works, Engr. Ade Akinsanya; Lagos State Deputy Governor, Dr. Kadri Obafemi Hamzat; Chief Executive Oﬃcer, Lafarge Africa Plc, Mr. Khaled El Dokani; Commissioner for Physical Planning and Urban Development, TPL. Idris Salako and Special Adviser to the Governor on Works and Infrastructure, Engr. Aramide Adeyoye at the 5th Lafarge Africa Concrete Ideas held in Lagos...yesterday

House Invites HoS, Accountant General, DG PenCom, Others over Non-payment of Pensioners’ Gratuities Juliet Akoje in Abuja The House of representatives has invited the Head of Service (HoS) of the Federation, Dr. Folasade Yemi-Esan; Accountant General of the Federation, Mr. Anamekwe Nwabuoku, the Director General of the National Pension Commission (PenCom), Aisha Dahir Umar and the Executive

Secretary of the Pension Transitional Arrangement Directorate (PTAD), Dr. Chioma Ejikeme to appear before its Committees on Pension and Public Service Matters and provide explanations for the non-payment of pensions and gratuities to retired federal civil servants for nine months. The resolution followed the adoption of a motion on the ‘Need

to Investigate the Non-payment of Pension Arrears of Retired Federal Civil Servants by PTAD,’ moved by Hon. Sergius Ose Ogun at yesterday’s plenary. The lawmaker while presenting the motion noted that Section 88 (1) and (2) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) empowers the National Assembly

to conduct investigations into the activities of any authority executing or administering laws made by the National Assembly. Furthermore, he added that Section 14(2) (b) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) provides that the security and welfare of the people of Nigeria shall be the primary purpose of government.

WHO: 30,000 Nigerians DieYearly of Tobacco-related Diseases in Nigeria FG unveils tobacco control dashboard Begins implementation of new tax rate on tobacco Onyebuchi Ezigbo in Abuja The World Health Organisation (WHO) has said an estimated 30,000 Nigerians lose their lives yearly due to illnesses caused by tobacco. The disclosure of the frightening health statistics came just as the federal government yesterday launched an initiative that would ensure the availability of accurate data on tobacco control activities and the disease prevalence are posted on dashboard to help intervention efforts. Speaking on the occasion of this year's World No Tobacco Day held in Abuja, yesterday, WHO Country Representative, Dr. Walter Kazuli Molumbo, expressed worry that non-communicable diseases were increasingly overtaken communicable diseases in terms of the number of deaths they cause in Nigeria. Molumbo said: "Close to 30,000 lives are lost yearly due to tobaccorelated illnesses. This is far more than the 3,000 lives claimed by the COVID-19 in the three years

of the pandemic." He described tobacco as a silent killer which manifests through cancer, chronic respiratory diseases and other ailments. According to Molumbo, this year's event with the theme: “Tobacco: A threat to our environment,” presented an opportunity for Nigeria to right the wrongs of the past when the country failed to take necessary measures to check tobacco consumption. Molumbo however commended the federal government for the current efforts to curb the negative impact of tobacco on the citizen. He particularly commended the setting up of an emergency inter-ministerial committee to Fastrack action on advocacy and sensitisation programme. Molumbo said the next meeting of the United Nations in September may be an opportunity for Nigeria to add her voice to the global efforts to end tobacco consumption. While speaking on the importance of the tobacco monitoring dashboard, the Country Lead

Development Gateway, An IREX Venture, Seember Ali, said the essence of the initiative which was being funded by the WHO and Bill Gates Foundation was to try and fill the gaps in data in relation to damages caused by tobacco consumption in Nigeria. She said the focus was to device a one-stop data shop for gathering of data that would help in antitobacco consumption advocacy. The Executive Director, Corporate Accountability and Public Participation Africa (CAPPA), Akinbode Oluwafemi said one of importance of the tobacco control dashboard was that it would enable advocates to effectively engage policy makers and other stakeholders towards achieving drastic reduction in the health hazards caused by tobacco in Nigeria. On his part, the Minister of State for Health, Senator Adeleke Olorunnimbe Mamora said the prevalence of tobacco use was on the increase worldwide. He said according to WHO,

tobacco epidemic was one of the biggest public health threats the world has ever faced, killing up to half of its users with more than eight million deaths recorded annually around the world. The Minister further said more than seven million of those deaths were the result of direct tobacco use while around 1.2 million were the result of non-smokers being exposed to second-hand smoke or "what some call “passive smoking.” Meanwhile, the federal government has said it had started the implementation of a new tax regime for tobacco products in a bid to discourage consumption of the product in the country. According to him, in compliance with the National Tobacco Act (2015) and Regulations (2019), the government has also commenced screening and issuing operational licences to qualified tobacco businesses in the country with a view to profiling and monitoring the industry activities nationwide.

Buhari Begins Four-day State Visit to Portugal Leads nine-man team to UN ocean conference Deji Elumoye in Abuja President Muhammadu Buhari depart Abuja yesterday as the head of a nine-man Nigerian team on a four-day state visit to Portugal at the invitation of President Marcelo Rebelo de Sousa. On the President's delegation were the Minister of Foreign Affairs, Geoffrey Onyeama; his Information and Culture counterpart, Lai Mohammed; Minister of Industry, Trade and Investment, Adeniyi Adebayo; Minister of Youth and Sports, Sunday Dare and Minister of Communication and Digital Economy, Isa Pantami.

Others were National Security Adviser, Babagana Monguno (rtd); Director General, National Intelligence Agency (NIA), Ahmed Rufa’i Abubakar and Chairman, Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa. The president, according to a statement issued by his spokesman, Mallam Garba Shehu, would hold official talks with his Portuguese counterpart and would be conferred with the country’s National Honour and decorated with ‘Great Collar of the Order of Prince Henry.’ The two presidents are expected to chair an enlarged bilateral meeting and witness the signing

of some agreements bordering on issues of mutual concern. According to the statement, Buhari would also visit the Portuguese parliament and hold discussions with its president, Dr. Augusto Santo Silva, as well as the Prime Minister of Portugal, Antonio Costa. In the course of the visit, the president would address a Forum of Nigerian and Portuguese businessmen and hold separate meetings with select Portuguese Chief Executive Officers and prospective investors to Nigeria. Buhari would also participate in the United Nations Ocean Confer-

ence, which began in Lisbon on Monday, June 27, and runs till July 1. The conference, co-hosted by the Governments of Kenya and Portugal and supported by the UN Department of Economic and Social Affairs (DESA), aims to accelerate the adoption of science-based innovative solutions to challenges facing oceans and the global marine ecosystem. The Nigerian leader is also expected to engage members of the Nigerian community in Portugal on matters affecting them and developments at home. The president is due back in Abuja on Saturday, July 2.

Ogun stressed that Section 32(b) of the Pension Reform Act Cap P4 Laws of the Federation of Nigeria, 2004 saddles PTAD with the responsibility of carrying out functions aimed at ensuring the welfare of pensioners. He said: "Pensioners under the defined benefits scheme of PTAD are reportedly owed monthly pensions and gratuities for a cumulative period of nine months. "The claim that the failure of PTAD to pay pensioners under the Defined Benefits Scheme for the said period of nine months is as a result of technological glitches" He further noted that the failure of PTAD to pay pensioners’ monthly

pensions and gratuities based on technological glitches amounts to gross incompetence and ineffectiveness on the part of PTAD. "The claim by PTAD that the technological glitches which caused it to be in arrears of pension and gratuities is in the domain of the Accountant General of the Federation and Government Integrated Financial Management System (GIFMIS) is unacceptable," he added. The House however mandated its Committees on Pension, Public Service Matters and Legislative Compliance to ensure compliance with this resolution and report back within four weeks for further legislative action.

RUSSIA-UKRAINE: BUHARI’S AIDES SEEK DEBT RELIEF, MORE RAPID LOANS FOR DEVELOPING NATIONS They noted that even of greater worry is that it is a harbinger of serious economic distress and, ultimately, global instability, adding that this is why debt sustainability in developing countries has become an urgent concern, requiring proactive measures to avert a new global debt crisis. The presidential aides stressed that several factors had contributed to creating this troubling situation, noting that prior to the COVID-19 pandemic, alarm bells had already begun to ring about rising debt levels in developing economies. For instance, they cited the United Nations Conference on Trade and Development (UNCTAD), which reported that the total debt service on external debt in the least developed countries rose from $33 billion in 2019 (pre-pandemic) to $50 billion in 202, adding that each figure is a far cry from $10 billion in 2013. "The economic fallout of the COVID-19 pandemic created a difficult situation for countries that were already economically vulnerable due to their limited ability to raise resources domestically as well as huge debt repayments. "During the pandemic, countries took on additional debt to provide some level of stimulus to their hardhit economies. But the troubling thing about the increased debt burden of developing countries is not only the increase in debt-service payments. "There is also the fact that the situation could have been much worse if not for interventions that provided some assistance, such as debt relief, payment suspension and provision of liquidity. "For instance, in addition to being relatively flexible in terms of disbursements under the Rapid Financing Instrument (RFI), the IMF

also issued $650 billion worth of SDRs (Special Drawing Rights), which helped to some extent in improving the external balance situation of many developing countries," they pointed out. Expressing concern over the recent global events which have further worsened the debt situation, they stated that the war in Ukraine was causing ripple effects around the world, with rising food, fuel and fertiliser prices leading to inflation as well as causing balance-of-payments pressures. This, they stressed, was also coming at a time when supplychain disruptions caused by the COVID-19 lockdowns were yet to fully abate, especially as there are continuing COVID-19 lockdowns in China, which they described as "the factory of the world." According to them, the increasing use of food-export bans across the world to mitigate the effects of rising food prices is further complicating the situation. The Buhari aides said the rising inflation was likely to lead to a tightening of monetary policy in the United States and other advanced economies, with the resulting higher interest rates most likely to trigger capital outflows and increase the costs of servicing debt. Put together, they explained that this set of factors were likely to precipitate a debt crisis that would further widen the inequality gap between advanced and developing economies. They observed that with higher borrowing and financing costs increasing their debt burdens, developing economies might need to undertake fiscal-austerity measures, including spending cuts, to meet their debt-financing obligations.

WEDNESDAY JUNE 29, 2022 • T H I S D AY

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AWARD WELL DESERVED... L-R: Vice President, Prof. Yemi Osinbajo; Ogun State Governor, Dapo Abiodun and Secretary to the Federal Government, Boss Mustapha, during the presentation of the Award of Best State in Micro, Small and Medium Scale Enterprises Policy Support for 2022 at the Presidential Villa, Abuja... on Monday

Lagos Set to Unveil 30-year Development Plan State accounted for 71% of Nigeria’s $1.5bn FDI in Q1 2022, LCCI reveals Segun James Lagos State Governor, Mr. Babajide Sanwo-Olu yesterday disclosed plan by the state to unveil a 30-year development plan. Sanwo-Olu said the development plan that would be launched at the forthcoming 9th Economic Summit of the State (known as Ehingbeti), was developed in pursuit of the state’s physical development. This was just as the Lagos Chamber of Commerce and Industry (LCCI) disclosed that the state accounted for over 71 per cent of the nation’s $1.5 billion Foreign Direct Investment (FDI) in the first quarter of 2022. LCCI President, Dr. Michael Olawale-Cole, who disclosed this at a meeting with Sanwo-Olu yesterday, indicated the Chamber’s continued readiness to partner with the governor’s administration for a better business environment. At the meeting which was held in Lagos, at the instance of the LCCI, Sanwo-Olu hinted that each of the four dimensions in the development plan for the state would be achieved through over

400 policy initiatives that would be implemented throughout the30 year period. He said: “The Lagos State Development Plan 2052 has been developed with a set of clear objectives across four strategic dimensions, which are to position Lagos on the track to achieving its vision. “The dimensions to this plan are to keep a thriving economy that will make Lagos a robust, healthy and growing economy with adequate jobs and strategic investments to sustain growth. “We are building a humancentric city in which every Lagosian will have access to affordable and world-class education, healthcare and social services. “There will be deliberate effort to keep modernising our infrastructure, by providing reliable and sufficient infrastructure that meets the needs of a 21st century city. The plan will also bring about sustenance of effective governance. Lagos will have a supportive and enabling environment that creates opportunities for all Lagosians. This is a huge task that must be

achieved between now and the nearest possible future.” Sanwo-Olu believed the plan would not be realised when the private sector – the drivers of the State’s economy – is not carried along in the implementation of the identified policy phases. The governor used the occasion to reel out interventions initiated by the state government in the areas of infrastructure, transportation, education, healthcare, security, environment and technology to improve the ease of doing business in Lagos. “For the first time, we are seeing a sub-national Government building rail lines to improve mobility. Lagos is expecting two

brand-new light rail projects in a few months and we took this audacious decision about three years ago to deliver this important transport infrastructure. “Our intervention in education has yielded a highly encouraging outcome, given the results of our students in national examinations. All of these have confirmed that we are on the right track,” he added. Earlier, Olawale-Cole said Lagos had continued to be the investment haven for FDIs coming to the country. “Policy direction is critical for a thriving and supportive business environment in any economy. The quality of the policy is a key consideration for local and foreign

Edo State has announced that it has recorded an exponential rise in the number of tech startups and a boom in entrepreneurial activities in the state. This it attributed to investments in digital infrastructure as well as

reforms to guarantee the growth of businesses in the state by the Governor Godwin Obaseki-led administration. According to a statement from the state government, with the surge, the state was being

Says application abuse of court process Justice Binta Nyako of the Federal High Court, Abuja, yesterday turned down the bail request by the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu. Justice Nyako in turning down the bail application described it as an abuse of court process, stating that the court cannot continue to litigate on issues it had earlier ruled on. Kanu had in a fresh application prayed the court to release him on bail, pending the determination of his trial on alleged treasonable felony. The secessionist agitator is standing trial on a seven-count charge of alleged treasonable felony. He had pleaded not guilty to the charges following which his lead lawyer,

Chief Mike Ozekhome, had urged the court to admit him to bail. He was first arraigned in 2016 alongside four others and was admitted to bail on health. The court had released him in 2017, after he secured a bail bond of N100 million with three sureties in like sum. He however jumped bail then, after soldiers invaded his family house in Abia State in late 2017, and fled the country. His absence forced the court to separate his trial from the four others. However, Kanu, last year was rearrested and repatriated to Nigeria to continue his trial. On resumption of the trial he had asked the court to release him again on bail to enable him prepare adequately for his trial. He had claimed that conditions

to come out and meet with the investors. The Norwegian who has lived in Lagos for 36 years, said he had witnessed the city transformed before his eyes into a blossoming economy. He said: “The Lagos narrative is a story in progress. The city is now cleaner than it used to be. I implore the government to focus more on education and make it accessible to the teeming young people. “This is what will sustain the city in the long term. Government leaders should demand more than donations from the international community; they must come and create jobs.”

We’ve Recorded Surge in Tech Startups, Says Edo State

Court Turns Down Nnamdi Kanu's Bail Request Alex Enumah in Abuja

investment decisions. “With an improved business environment, Lagos can attract more capital inflows from Nigerians in Diaspora as a more sustainable funding for the provision of required infrastructure. Enormity of needs in Lagos requires the cooperation of both the public and private sector,” he added. The LCCI boss announced that Lagos would be the official chief host of the international tech and telecommunication (ICTEL) expo coming up in August. On his part, the LCCI Deputy President and Group Executive Director at Dangote Group, Mr. Knut Ulvmoen, said Sanwo-Olu took his most important decision

at the Department of State Service (DSS) where he was being held in custody since his repatriation to Nigeria were inhumane, alleging that he was being denied access to his lawyer. In arguing the bail, Ozekhome, stated that Kanu did not jumped bail but had to escape onslaught of soldiers who had killed several person during the raid on Kanu's family house in September 2017. He therefore urged the court to set aside the revocation of the bail earlier granted the applicant. But in its ruling in the fresh application yesterday, the court held that it was not satisfied with the reason Kanu gave for his failure to appear in court for continuation of his trial. The trial judge noted that records of the court, showed that the applicant was represented by

his lawyer on the day his bail was revoked. "In fact, the sureties told the court that they did not know the whereabout of the defendant and even applied to be discharged from the matter. "Therefore, the defendant was not denied fair hearing." While noting that a court could vacate a previous order when confronted with a cogent and verifiable reason, the judge stated that in the instant case, she wasn’t given any reason why she should set-aside the order. "The present application amounts to an abuse of court process for attempting to re-litigate an issue already decided by the court," she held, adding that Kanu could go on appeal if dissatisfied. "This application is accordingly dismissed", Justice Nyako held.

repositioned to become the leading startup ecosystem on the African continent, ready to contribute its fair share to the $6.6 billion Africa’s startup ecosystem. The growth was hinged on the government’s commitment to utilise technology to facilitate economic growth and development, leveraging the state’s youthful population. “The Obaseki-led administration is pursuing nuanced policies to place the state as Africa’s digital hub, expanding internet access, providing digital infrastructure, and ensuring a conducive environment for tech entrepreneurs to drive the state’s digital economy. “The state government, in partnership with leading global tech giants, including MainOne, Facebook and Global Independent Connect Limited (GICL), among others has laid at least 400km fibre optic internet infrastructure (250 miles), aimed at boosting internet connectivity and providing the needed support to grow the tech ecosystem, including technology hubs and parks in the state. “On the back of these investments, The Guardian UK, in a recent report, acknowledged the surge of startups into the state, noting that the government is committed “to building business and technology hubs, expanding internet access for entrepreneurs,

tech workers, government agencies and schools,” the statement added. The UK-based news platform quoted Stephen Osawaru, a 38-year-old entrepreneur and business consultant in Benin City, as saying, “Many internet businesses in education, agriculture, health and finance that didn’t exist five years ago have now taken advantage of the connectivity in Edo.” “The internet is better and cheaper than it was five years ago; internet penetration is growing at an exponential rate and creating more opportunities,” Osawaru, who works with a network of more than 300 startups in the state, added. On her part, the Founder of MainOne, Funke Opeke, described the public-private partnerships in Edo as “a model” for how internet access in Nigeria can be rapidly increased. According to Obaseki, “In Edo State, we are focused on 12 thematic areas, which include reforms of government structure, making government the enabler in the society, creating a citizen-centric leadership structure, and utilising technology and data to drive governance. We are also ensuring that the government focuses on sustainable economic growth and building the physical and digital infrastructure that we require for our growth.”

WEDNESDAY JUNE 29, 2022 • T H I S D AY

WEDNESDAY, ͺ΁˜ ͺ͸ͺͺ ˾ T H I S D AY

TEN LIKE TINUBU, APC’S VICE PRESIDENTIAL PLACEHOLDER, MASARI, DECLARES CERTIFICATES MISSING forms of presidential candidates for next year’s election, Tinubu, who won the presidential ticket of APC, had announced Masari as his running mate. But there were plans to substitute him within the substitution window in the electoral guidelines. Masari is a Muslim from Katsina State in the North-west geopolitical zone, where the current president, Muhammadu Buhari, hails from. The choice of Vice President has become a tough one for Tinubu, following the strong division in the country along religious and ethnic lines. He said recently at the 60th birthday ceremony of Speaker, House of Representatives, Femi Gbajabiamila, that he was still searching for a substantive partner, provided Masari voluntarily resigned in line with the new electoral laws. However, the Form EC9 bearing Masari's particulars revealed that he did not attach any certificate in support of his educational qualifications. Masari, rather, attached a sworn affidavit claiming the loss of vital documents, including his school certificates. According to the court document sighted by THISDAY, Masari claimed to have lost his certificates alongside other documents last July in Abuja. The sworn affidavit deposed to at the Supreme Court, Abuja, read in part, “That sometime in January 2021, while on transit within Wuse Area, FCT-Abuja, I discovered that my original Certificate of Occupancy (C of O) of Plot, No. KT 17522, GRA, Katsina, Katsina State; Certificate of Kaduna State Development Centre from 1994 - 1995; Grade ll Certificate from Katsina Teachers’ College (KTC) from 1978-1983 and First Leaving School Certificate, issued by Masari Primary, Katsina State, from 1972-1978, got lost." Masari added that all efforts to trace the documents proved abortive, hence, the affidavit. Tinubu's Form EC9 published by INEC last Friday, which revealed that the APC presidential candidate did not fill the column for his primary and secondary school education, had generated a lot of controversy, with some political parties and groups

threatening to go to court. The felt the APC presidential candidate could not have left the two spaces blank after listing his primary and secondary schools, with dates attended, in his Form CF 001 for the governorship election in 1999 in Lagos State. But Tinubu had explained that he could not explain the whereabouts of his certificates after soldiers invaded his house while he was in self-exile during the fight against military regime in the country, post-June 12, 1993 presidential election annulment. Uzondinma: Tinubu’s Certificate Saga a Non-issue Imo State Governor, Senator Hope Uzodinma, said those pushing the certificate saga against the APC presidential candidate, Bola Tinubu, were merely trying to create an issue out of a non-issue. Uzodinma said Tinubu, having contested in three different elections in the past, did not need to make fresh submissions if the record keeping system of the electoral body was efficient. He said, “Well, all the things so mentioned are entirely party challenges that will be resolved. But, for my presidential candidate, the issue of a certificate shouldn’t even arise. In 1999, he contested elections and became the governor of Lagos, and in 2003, he contested the election for second-term governor of Lagos. “He ran and won as a senator in the country. Where recordkeeping is efficient, and INEC server functional, he doesn't need to do a fresh submission. However, if whatever he is supposed to submit is not handy, it is not late yet. I’m sure before that time, he will submit whatever is required of him.” Uzodinma also dismissed speculations that APC was on the verge of losing its majority status in the National Assembly over the looming defection of their lawmakers. He stated, “Did some leave the party or are leaving the party? Until they leave. But for those few, who left, of course, there are some others, who left other parties and joined the APC. So, one cancels the other.” On allegations levelled against him by his political adviser that he was running a closed govern-

ment, the governor said, “You know, politics and leadership is a business that thrives on ideology. Sometimes, you hire aides, who by our primary assessment, you think would be able to fit into the ideology and your vision for your people. “So, if the way things are going, to the best of their idiosyncrasies, is not consistent with the thought process, it means that they are licensed to try their luck in another place.” Asked if he had paid the N27 million he was said to owe his former aide, Uzodinma said, “So, this aide, who accused his boss of non-inclusiveness. Unfortunately, we're not running a limited liability company, where shareholders must all vie for… “I accepted his resignation and I wish him the best of luck in his future endeavours and that brings the matter to a close. I don't know how I will owe N27 million to an aide; you are talking

about my political adviser, I don't know what he sold to me that I bought?" Appraising the security situation in his state, Uzodinma said bandits had started laying down their arms and surrendering to the authorities. The governor, who spoke with newsmen on Tuesday after meeting with President Muhammadu Buhari at State House, Abuja, said the ultimatum he gave armed gangs to lay down their arms had started yielding fruit. He said, "Only two days ago, I have already called on the criminal gangs in Imo State, the unknown gunmen and bandits, who are hiding in one way or the other, forests and in the bushes to come out and I granted a 10-day period, during which if they come out and lay down their arms, we will grant them pardon. "As at this morning, I’m told that some people are already sur-

rendering their arms. It is good a development, because we have to attack the situation from all fronts and ensure that innocent citizens are not molested." Uzodinma, however, maintained that the security situation in his state had not degenerated to the level of individuals carrying arms. He said, although he was not in Zamfara State, where Governor Bello Matawalle ordered self-help, and could not say exactly why the government was making the move, his own administration was in control of the security situation in Imo State. Uzodinma said the security situation in the state had greatly improved and there would not be any need for individuals to carry arms as a form of self-defence. He said, “I’m not in Zamfara State to know what exactly is the situation. However, I don't think that the security situation is beyond our security services. "In Imo State, the security agen-

cies have risen to the occasion and we're in charge of the security and, like I told you earlier, the agencies are working in synergy and the situation has been controlled to the barest minimum. "Currently, businesses have resumed and people are going about their day-to-day businesses without any molestation. So I think that we're all working in one accord to ensure that, nationally, the security situation has improved."

Action Alliance Asks Court to Restrain INEC from Listing APC, Tinubu for 2023 Presidential Poll

The Action Alliance (AA) filed a case at a Federal High Court seeking to restrain INEC from including APC on the ballot for the 2023 presidential election. AA also asked the court for an order Continued on page 42

DESPERATE TO STAVE OFF MASS DEFECTION, BUHARI MEETS 22 AGGRIEVED APC SENATORS Emphasising that there must be a winner and loser in any contest, Buhari revealed that he had been inundated with complaints over the primaries, assuring that he would continue to address the challenges through the party machinery. Urging party members to exercise restraint, as justice would be done, the president told the senators, "I thank you for the decision to approach me with your concerns over the future of the party and for pursuing solutions approach for the challenges thrown up by the recent election-related activities particularly, the primaries. "As the leader of the party, one of my primary role is to ensure that our culture of internal democracy and dispute resolution is strengthened by creating the opportunity for members to ventilate their opinions, views and grievances at different levels. "Notwithstanding the fact that we have accomplished 23 years of an uninterrupted democratic governance, our journey is still in a nascent stage and we continue to learn from our challenges and mistakes. "Similarly, our party is still evolving in its culture and practice

and it is my expectation and hope that we should attain a mature level in our internal conduct. "I have noted your grievances, particularly, as it concerns the just concluded processes, the cost to the nation, the threat to the majority position held by our party in the legislative chambers, and likely consequent causes to the electoral fortunes of the party as we approach the general election. We must not allow these dire threats to come to pass. "I must acknowledge that in every contest, there must be a level-playing ground, just as there would be grievances at the end. That is the test of our democratic credentials, systems and practices. "I have since the conclusion of the process been inundated with various reports and complaints. In keeping with our ethos, therefore, I shall continue to address the ensuing challenges and grievances through the party machinery while paying keen attention to the outcomes. "I must also remind you of the primacy of justice in all our actions. If justice is denied, its outcome is usually unpleasant. This is because you, the members, keep the party running.

“I should add that as part of the policy of using the party machinery for effective resolutions of conflict, the chairman and some members of the National Working Committee visited the National Assembly recently to dialogue with our legislators. "The leadership of the party is currently addressing the outcomes as part of the way forward. I am encouraging all the party functionaries to adhere to the truth and to be fair to all parties in any dispute. This is important because our strength and victory in the election lies in the unity of the party and our ability to prevent or heal any injustice perceived unfair. "I urge you and all party members to exercise restraint and continue to demonstrate commitment to the ideals while we continue to build and develop the party and the country. “Finally, Let me assure you that justice shall prevail, aggrieved members shall be assuaged in the interest of the party and the nation shall be protected." Earlier, the leader of the delegation and Senate Chief Whip, Kalu, said at least 22 senators and members of the party were

unhappy with the outcome of the primaries in their states, noting that they felt disenfranchised by the process. He said the legislators had made sacrifices for the growth of the party and democracy in the country, and asked for the president’s intervention. Responding, Kalu stated, “Mr President, in the Senate, we have worked hard and consistently sold your programmes beyond party lines. Be assured always of our support.” In a statement after the meeting, Kalu said the lawmakers told Buhari that they were disenfranchised by the process of the primary and that Buhari urged them to exercise restraint and change their decision to defect from the party. He said, "The aggrieved senators would no longer pursue their defection plans from the APC. Our meeting with Mr President was successful and the issue of defection from our party has been laid to rest." No fewer than six APC senators, including the Senate Leader, Senator Yahaya Abdullahi, had dumped the party, citing poor internal politics during its recent primary elections.

he said. In addition, the NUPRC head announced the unveiling of the Template and Procedure Guide for the Host Communities Development Trust for commencement of implementation of the provisions of Section 235 of the PIA, 2021. He said the commission was committed to transparency in its processes and has therefore, implemented the Beneficial Ownership (BO) reporting, which requires full disclosure of ownership information. “The objective is to ensure financial transparency, accountability, and public financial management among others,” Komolafe stated. Speaking on the sidelines of the event, a former Chairman of the Petroleum Technology Association of Nigeria (PETAN) and an oilfield winner, Bank-Anthony Okoroafor, described the awards as the most transparent process in the history of marginal fields awards in the country, adding that the issue of “forced marriage” has now been resolved. He noted that the IOCs should fully cooperate with the winners by giving them assess for evacuation of crude as far as it was optimal and avail them all the information needed to make it easier to transition to first oil. Okoroafor urged the federal government to solve the issue of crude theft and vandalism as well as declare it a national emergency.

The GMD made this known when he appeared before the House of Representatives Joint Committee on Petroleum Resources (Downstream) investigating the increase in prices of diesel and cooking gas. Addressing the Committee chaired by Hon. Abdullahi Gaya, the GMD said though the situation was regrettable, the NNPC was doing something to bring the refineries back to work. While noting that a good number of illegal refineries had been taken out, he said the company was in the process of doing a quick fix on the Warri refinery. On petroleum supply, the GMD stated that no one could guarantee the security of petroleum supply, as countries are preserving excess volume that they have in their kitty. Kyari blamed the current energy crises on the Ukraine and Russia war which resulted in the increase of petroleum product. He said the solution was to restore

TWO YEARS AFTER, NUPRC CLOSES OUT 2020 MARGINAL OILFIELDS BID ROUND preliminary prospecting activities, THISDAY learnt. In the process of getting to conclude the bid rounds, the NUPRC stated that about N200 billion was raked in from the 57 oilfields to the coffers of the federal government, plus an additional $7 million in signature bonuses and others. In addition, the NUPRC announced the unveiling of the Template and Procedure Guide for the Host Communities’ Development Trust (HCDT) for commencement of implementation of the provisions of Section 235 of the Petroleum Industry Act (PIA) 2021. The unveiling of the template on host communities fund administration was a major development for oil-producing areas of the Niger Delta who are expected to benefit from the three per cent operating expenses of oil companies in the area. Section 235 of the PIA provides for the incorporation of Host Communities Development Trust by the Settlors, that is, the oil and gas companies, for the benefit of their hosts. It places the responsibility to set up the HCDT and appoint the Board of Trustees (BoT) on the companies in consultation with the host communities. In addition, Section 247 of the Act requires the BoT to set up a management committee to handle the general administration of the fund. The HCDT provided by the PIA proposes to advance the development of the host communities within the scope of funds available to the BoTs for such purposes. It is also envisaged that sabotage of oil and gas infrastructure will be reduced since local communities now have a slice of the pie. Since the regulations, which

were officially unveiled by the government are now ready, the managers of the fund should be announced anytime soon. Describing the ceremony as a giant milestone for the current administration, Minister of State, Petroleum, Mr. Timipre Sylva, who spoke during the event, noted that about 70 per cent of the entire bid winners had fully paid up. He recalled that the roadmap of the marginal field awards began with two fields awarded in 1999, adding that prior to the award, 13 fields had been awarded on land, eight fields in swamp and nine fields offshore, leading to a cumulative of 30 marginal fields so far awarded in Nigeria. “It is worthy of note to state here that this present award process saw 57 fields offered and over 70 per cent of them have their signature bonuses fully paid. This indeed is a testament to the increasing interest in our petroleum operations,” he said. With the implementation of the PIA 2021 in top gear, the minister reminded the new awardees that their assets would be fully governed by the provisions of the new law. “As a result, each successful field will be issued a Petroleum Prospecting Licence (PPL) in line with the PIA. This is a complete departure from what used to be where the marginal field owners had no licences. “This marks the beginning of a new era for us in the oil and gas sector and I urge the awardees of the PPL to take full advantage of the opportunities being presented to exploit, develop, and bring the assets to productive use,” he declared. As they move to develop their assets with the Special Purpose Vehicles (SPVs), he urged the award winners to ensure that good oilfield

practice was employed, while environmental considerations and community stakeholders’ management should not be neglected. He charged the commission to provide every necessary support to ease and facilitate seamless upstream petroleum operations in line with the objectives and provisions of the PIA. Some of the winners of the bid rounds included Matrix Energy, SunTrust Oil, PetroGas Energy, Genesis Hydrocarbons, Samora Oil & Gas, Ardova, Terra Energy and Mainland Energy. It also included Energia, Bono, Calm Marine, Virgin Forest, Tempo, Deep Offshore, North Oil, Shepherd Oil, Hilltop Global, Duport, among others. The process which commenced in 2020 had been bogged down by bureaucratic challenges, meaning that the actual drilling for oil had yet to effectively take off after a long time, although 161 companies were eventually shortlisted to advance to the final stage from 591 entities that applied for pre-qualification. The then head of the defunct DPR, which has now transformed into the NUPRC, Sarki Auwalu, had said the exercise was worth roughly $500 million in signature bonuses. But in his remarks at the event, the Chief Executive of the NUPRC, Mr. Gbenga Komolafe, noted that the commission was faced with several constraints during the course of the exercise which have now been surmounted. He listed some of them as the COVID-19 interruption, partial payment of signature bonuses by some of the awardees, and the unwillingness of co-awardees to work together in forming SPVs for field development.

Komolafe explained that historically, the marginal fields award initiative began in 1999 and was borne out of the need to entrench the indigenisation policy of government in the upstream sector of the oil and gas industry and build local content capacity. Besides, the initiative was also targeted at creating employment opportunities and encouraging increased capital inflow to the sector. “Again, it is noteworthy that the 2020 marginal field bid round exercise in respect of which PPLs are being issued today has attracted government revenue of about N200 billion and $7 million respectively,” he stressed. He noted that the NUPRC would continue to provide a predictable and enabling regulatory environment to operators in line with its technical and commercial statutory mandates with a view to optimising the development and exploitation of the nation’s hydrocarbon resources. Komolafe lamented that Nigeria currently wasn’t meeting its oil production quota, stating that it was the reason Nigeria wasn’t feeling the positive impact of the current surge in crude prices. “It is worthy of note that the average price of crude oil in recent months has been above $100 per barrel. This upward swing in market fundamentals is largely associated with the Russian-Ukraine conflict. “However, the impact of the upswing in the crude oil price is not reflecting in the nation’s revenue earnings due to disruptions in our national oil production owing to sabotage, theft, and other operational challenges. “Therefore, potential licensees are urged to take advantage of the current market realities and quickly bring their fields to production,”

Kyari: Over 200 Illegal Reﬁneries Operating in Nigeria

Meanwhile, Kyari, has lamented that none of the government-owned refineries are presently working, even as he revealed that there are over 200 illegal refineries being operated across the country.

Continued on page 44

CORRIGENDUM In the body of our story on the appointment of Olukayode Ariwoola as the acting Chief Justice of Nigeria (CJN), we erroneously referred to former CJN, Walter Onoghen on page 10, yesterday, as late. The error is highly regretted and we tender our unreserved apology to the honourable Chief Justice. Justice Onnoghen is alive and well.

–Editor

WEDNESDAY JUNE 29, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY JUNE 29, 2022

MIDWEEKPOLITICS

Acting Group Politics Editor DEJI OLUMOYE Email: deji.elumoye@thisdaylive.com

08033025611 SMS ONLY

10th Senate As Retirement Haven for 28 Serving and Ex-Governors Baring any unforeseen circumstances, 14 serving and past governors would join their 14 other colleagues, currently in the 9th Senate, to form a formidable and powerful block in the red chamber when the 10th National Assembly is inaugurated next year. Sunday Aborisade reports

Yari

Oshiomhole

o fewer than 28 serving and former governors have been elected as senatorial candidates at the just concluded primaries of the various political parties ahead of the 2023 National Assembly election. The new set of senatorial hopefuls who are, currently serving as governors, are: Aminu Tambuwal (Sokoto), Ifeanyi Ugwuanyi (Enugu) Dave Umahi (Ebonyi), Darius Ishaku (Taraba), Samuel Ortom (Benue), Okezie Ikpeazu (Abia), Sani Bello (Niger), Ibrahim Dankwambo (Gombe), Simon Lalong (Plateau), and Atiku Bagudu (Kebbi). Former governors who are already in possession of senatorial tickets are, Abdulaziz Yari (Zamfara), Adams Oshiomhole ((Edo), Gbenga Daniel (Ogun), and Godswill Akpabio (Akwa Ibom). The former and serving governors will be joining the serving ones in the 9th Senate who include Aliyu Wamakko (Sokoto), Sam Egwu (Ebonyi), Orji Kalu (Abia) Gabriel Suswan

Daniel

(Benue), Adamu Aliero (Kebbi), Ibrahim Shekarau (Kano), and Saminu Turaki (Jigawa). Others are: Seriake Dickson (Bayelsa), Ibrahim Gaidam (Yobe), Kashim Shettima (Borno), Danjuma Goje (Gombe), Tanko Almakura (Nasarawa), Chimaroke Nnamani (Enugu), and Kabiru Gaya (Kano). While some of the serving governors allegedly manipulated the electoral process in their desperate moves to become senators at all cost, one of the former governors currently in the 9th Senate had to defect to another political party when he could not secure the ticket of his party. Specifically, a former governor of Kebbi State, Aliero, dumped the All Progressives Congress (APC) to pick the Kebbi Central senatorial ticket on the platform of the opposition Peoples Democratic Party. The implication of the situation is that the former governors would constitute

about 25 per cent of the 109-member 10th Senate. The decision of the governors to retire into the red chamber had contributed immensely to the loss of institution memory currently hampering the activities of the apex legislative body in the country as the state chief executives are going there to displace the highly experienced, ranking lawmakers, who are even chairmen of critical committees of the Senate. In the case of Edo State for instance, the action of Oshiomhole had forced the Chairman of the Senate Committee on Customs and Excise, Francis Alimikhena, to dump the APC for PDP on whose platform he would contest the Edo Senatorial District. Also in their desperation, Umahi and Akpabio who contested the APC presidential primary election and were humbled by the winner, Asiwaju Bola Tinubu, went back to their constituencies to get the senatorial tickets despite the fact

Shittima

that they did not participate in the primaries that had already produced candidates. The National Chairman of the party, Senator AdamuAbdullahi, however, forwardedAkpabio and Umahi’s names to the Independent National Electoral Commission as the validly elected senatorial candidates respectively. Some other serving governors who would be going to the 10th Senate as fresh lawmakers are: Tambuwal, Ishaku, Ortom, Ikpeazu, Sani Bello, Danwkambo, Yari, Ugwuanyi, Lalong, and Daniel. Some of the ranking Senators who would be displaced by their governors have, however, been reacting to the development. Senator Chukwuka Utazi (Enugu North), said he did not bother himself to obtain the form since his governor had signified interest in the senatorial seat. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Ngwu Seeks to Replace Ekweremadu in the Red Chamber

Udora Orizu highlights the career and political journey of People’s Democratic Party (PDP) ﬂagbearer for Enugu West Senatorial District in the 2023 general elections, Osita Ngwu

t the People’s Democratic Party (PDP) senatorial primary election held in Enugu State on May 24, Osita Ngwu in a landslide victory, emerged as the party’s candidate for Enugu West Senatorial District. If victorious in the 2023 general elections, Ngwu will be replacing Senator Ike Ekweremadu who has been in the Red Chamber since May 2003. The embattled Senator was the Deputy President of the Senate for three consecutive times during the 6th, 7th and 8th Senate. Ekweremadu, who was also a PDP governorship aspirant in Enugu state before announcing his withdrawal a day to the primary election is currently serving out his fifth consecutive and last tenure in the 9th Senate. In the run-up to the 2023 general elections, the search for who will take over the seat which he has been occupying for almost 20 years is already gathering momentum. At the just concluded party primaries, the PDP, All Progressive Congress (APC) and some other political parties through adhoc delegate system of voting fielded candidates to be their flag bearers come 2023. For the People’s Democratic Party, which is the ruling party in the State, the chosen one to represent Enugu West Senatorial District is Osita Ngwu who scored 177 votes to defeat other aspirants such as Hon. Ogbuefi Ozomgbachi, Njeze Fidelis, Ani Chinedu, Eneh Simon, who garnered 53, 3, 13 and 1 votes respectively. The story of Ngwu’s sojourn on earth is one of the abundance of the Grace of God, whose love and blessings has been evident in his life. RG as he’s popularly called is a reputable engineer, astute businessman, fast rising

He’s a member of professional bodies such as Nigerian Society of Engineers (MNSE), Nigerian Mechanical Engineers Association (MNMEA) and Council for the Regulation of Engineering in Nigeria (COREN).

Ngwu

politician and philanthropist per excellence, whose career progression has taken him through both the private and public sectors. He is highly intelligent, diligent and humble, with great passion for public service and philanthropy. Academic Qualiﬁcations Ngwu who’s in his early forties has a Bachelor of Engineering degree from Enugu State University of Science and Technology (2001) and MSc. from the Business School, University of Roe Hampton, London, UK (2016).

Work Experience Ngwu in his 15 years working career as a young and dedicated engineer in the oil and gas industry garnered remarkable cognate experience, rising from trainee engineer to the highest level of Executive Director. In those 15 years, (2003 - 2018), Ngwu served in various and diverse professional capacities in the engineering departments of the Oil and Gas industry, those were years of an outstandingly successful career in the Design, Procurement, Construction, and Management of oil and gas infrastructures in the upstream sector (Offshore and Onshore). From 2007 to 2010, at Baywood Continental Limited, Ngwu was deeply and extensively involved in high-level & multi- volume EPCSS Technical and Commercial Proposals and Coordination, including the Review of Subcontract, Consultancy and Joint Venture Agreements used on Major Oil and Gas Projects. He performed in-depth cost/risk analysis on proposals and ensured that Tenders were submitted as per Clients’ standard instructions, policies, and conditions for Tenders. From 2010 to 2016, he was part of a team at ZB Joint Venture Limited, initially as the Contract Manager but later on as the Project Manager to deliver the Engineering, Procurement, Supply, Construction, and Commissioning (EPSCC) of OML Phase 1 – O.U.R 42” X 45Km Gas Pipeline Project, for Total Exploration and Production

Nigeria Limited. The Project was the first of its kind, and the largest Gas Pipeline to be constructed onshore in Nigeria and entire Sub-Saharan Africa. He further coordinated the Tank Upgrade projects for Shell Petroleum Development Company Limited for another 2 years (up to 2018). In those years of his working career, Ngwu who rose from Trainee Engineer position to Field Engineer, Project Engineer, Senior Project Engineer, Construction Engineer, Project Manager, Commercial Manager, Business Development Manager, Senior Project Manager, Chief Operating Officer, before ending up as Executive Director in a reputable Oil and Gas Company, was involved in managing many projects. As a dynamic leader, Osita believes that if he was considered good at serving other business firms, he would also be excellent in the private sector and service to humanity, through his own business. Consequently, in 2016, he ventured into the private sector, as an entrepreneur. From that year, when he started his production businesses, Ngwu has created a niche in that circle. Currently, he is expanding his fleet of factories, which began as a N50 million per annum business to an enviable multi-billion Naira per annum business in just six years. To demonstrate his patriotism and love of humanity, especially to the youths of Nigeria, he has, at present, 533 workers in his payroll. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY JUNE 29, 2022

POLITICS

Masari’s Silence, Governorship Primary, Put APC on Edge in Katsina

Francis Sardauna writes that a fresh crisis is rocking the Katsina State chapter of the All Progressives Congress (APC) over governorship primary in the state.

Buhari

ith heightened insecurity, worsening economic challenges, poverty and lack of administrative direction and developmental projects, the ruling All Progressives Congress (APC) in Katsina State will be going into the 2023 general election with what political analysts termed an overload of incumbency disadvantage. For the past seven years it has been in power since 2015, arguably, the APC administration in the state has become synonymous with “All promises without fulfilment” as it has failed to fulfil any of its campaign promises of fixing the economy, reviving agriculture and tackling insecurity. The APC’s failure of leadership in Katsina state is not limited to its inability to deliver on its promise of good governance and accountability alone, it actually begins from the home front, as clearly seen in the inability of the ruling party to resolve its prevailing internal crisis. The internal crisis rocking the party has deepened over the outcome of the just concluded governorship and legislative primaries in the state and is threatening the party’s cohesion and chances of winning the 2023 governorship, Senate, House of Representatives and state Assembly polls. Already, some stalwarts of the ruling APC in the state have started leaving the party which came into power with the “change mantra” to the Peoples Democratic Party (PDP) and the New Nigeria Peoples Party (NNPP) over what they described as administrative and leadership failure, irregularities and the inability of Governor Aminu Bello Masari to address the predicaments besetting the masses. Those who jumped ship from the APC to NNP includes the incumbent member representing Bindawa/Mani federal constituency at the House of Representatives, Aminu Ashiru; current member representing Kurfi/Dutsin-Ma federal constituency, Armayau Kado and Babangida Ibrahim Talau of Malumfashi/Kafur federal constituency. Others are the former member Kurfi/ Dutsin-Ma federal constituency, Danlami Muhammed Kurfi; the former zonal Special Adviser to Governor Masari on political affairs and current chairman of NNPP, Sani Liti; former SA to Governor Masari on International Relations and Investment, Ibrahim Zakari and Shuiabu Iliyasu, former member representing Kurfi at the state House of Assembly. Interestingly but considered as a political tsunami by political gladiators, the current senator representing Katsina North senatorial District, (the constituency of President Muhammadu Buhari), Senator Ahmed Babba Kaita, has equally dumped the ruling party to the Peoples Democratic Party (PDP). The former member representing Kurfi at the state House of Assembly, Bashir Mamman also left the APC and joined PDP, among others.

Masari

However, the recent crisis which seems to be annihilating the party’s structures and popularity in the state, started when one of its major governorship aspirants, Dr. Mustapha Muhammed Inuwa, who recently summoned his supporters for a meeting at the Conference Hall of the Katsina Motel, where he said he was betrayed not to have clinched the party’s guber ticket. Inuwa, who was defeated by the erstwhile Director-General and Chief Executive Officer of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Umar Dikko Radda, during the May 26 governorship primary of the party, accused Governor Masari of working with other bigwigs of the party against his lifelong political ambition of becoming the governor of the historic state. The immediate past Secretary to the State Government (SSG) alleged that his political godfathers in the state believed that he could not be controlled by them hence their support for their candidate (Radda) whom he described as clueless and subservient. Miffed by the outcome of the primary, Inuwa said: “I have paid my dues as a true servant of this administration and I challenge any person just once when I failed to undertake my responsibility or cheated the administration. “We conducted 10 by-elections in this state and the last one was the one we conducted in Bakori local government area. I swear, the governor (Masari) doesn’t know how to win elections; we would only bring the results to him.

“We did the 2019 general elections and we got the highest votes in the country and all of you know we got more votes in the second election (2019) than the first (2015). But those we supported and worked for had betrayed us because they think we can’t be controlled”. Sadly, the former SSG who has political structures across the 34 local government areas of the state more than the gubernatorial candidate of the party, vowed to work for the success of his supporters who left the APC for the NNPP because of “injustice” during the party’s primaries. Inuwa’s recent outbursts against Governor Masari and some state APC bigwigs have been predicted by political analysts as a graveyard for the party. Some pundits also argued that the former “engine room” of Masari-led government alongside his teeming supporters may embark on anti-party activities and open a factional secretariat for the party in the state. A credible source within the party told THISDAY that: “Already, there is serious division within the party because Mustapha Inuwa is not happy with the outcome of the primary and I don’t think he will support Dikko Radda to win the election. “He recently declared during a meeting with his supporters at the Motel that he will support even those that left the party and joined NNPP to win election against the APC that built his political career. The way forward is for the governor to call him and other aggrieved members to order” However, Inuwa’s kingsman and State Secretary of the party, Mallam Shitu S. Shitu, who was among the dignitaries that attended the post-primary election meeting, described the result of the APC governorship primary in the state as punishment for the citizenry. Shitu, who denied speaking at the meeting in his capacity as secretary of the party, said: “The result of the governorship primary was perhaps because God wanted to punish the people of the state. That is why the delegates

The APC’s failure of leadership in Katsina state is not limited to its inability to deliver on its promise of good governance and accountability alone, it actually begins from the home front, as clearly seen in the inability of the ruling party to resolve its prevailing internal crisis. The internal crisis rocking the party has deepened over the outcome of the just concluded governorship and legislative primaries in the state and is threatening the party’s cohesion and chances of winning the 2023 governorship, Senate, House of Representatives and state Assembly polls.

voted for “a lioness rather than a lion.” His statements further triggered and worsened the party’s crisis as the camp which produced the governorship candidate of the party, has threatened to sanction members of the party, including those elected on the party’s umbrella during its primaries. The Vice Chairman of the party, Bala Abu Musawa, who gave the warning at a function attended by Governor Masari in Malumfashi, the headquarters of Malumfashi Local Government, admonished the governor who is visibly worried about the crisis, not to intervene in the matter but allow them (supporters of Dikko) to tackle it. But the more the governor remained adamant over the raging crisis, the more it will tarnish his political career, reputation and hamper the party’s chances of retaining the governorship seat in the state as foreseen by a political analyst, Dr. Kabir Musa Yandaki. The Head of Political Science Department, Umaru Musa Yar’Adua University, Katsina, warned that If the crises pervading the APC were not carefully handled and addressed by the leader (Masari) of the party, the ruling party may lose the 2023 elections to other opposition parties in the state. In an interview, Yandaki said: “The state governor, Alhaji Aminu Bello Masari, as leader of the party in the state must intervene to save the party from the doomsday. Now is not a time of crisis for the party, what it needs is unity. “You can see how the major opposition parties have presented popular politicians as their flag-bearers. If you look at the PDP, it has presented a popular gubernatorial candidate, NNPP has also presented a popular candidate as its flag-bearer. “So, if the APC in Katsina fails to reconcile its members ahead of the 2023 general elections, the party will face serious challenges at the polls. In fact, it will lose the election. “Already, the people are aggrieved, believing that the economic hardship faced in the country is a direct result of the party’s failures. With such a crisis raging within the APC, the party should not waste”. Masari’s refusal to announce his preferred governorship candidate even before the commencement of the primary also gave room for speculations and accusations, especially among supporters of both the defeated aspirants and the winner. With this cold war of words among APC chieftains in the state over the governorship primary and other internal problems afflicting the party, there is urgent need for Governor Aminu Bello Masari to intervene in order to save the party from total collapse. Importantly, Radda, who recently informed a forum of Vice Chairmen in the state that his campaign will not be a hard one for them as they did not vote for “mortar” as their flag bearer, should extend the hands of friendship to aggrieved members of the party, if not, he will be the mortar that he claimed not to be.

WEDNESDAY JUNE 29, 2022 • T H I S D AY

WEDNESDAY, ͺ΁˜ ͺ͸ͺͺ ˾ T H I S D AY

TRIBUTE

BRF: The Omoluabi Eko At 59

Hakeem Bello

hat will protect all of us when all is said and done is law and order." If there is a quiz to guess which Nigerian public servant said the above, chances are most will answer: Babatunde Raji Fashola (BRF). Yes, of course. The quintessential lawyer and Senior Advocate of Nigeria (SAN) is not just a champion of Infrastructure development and deep thinker, he is a stickler for law and order. He is 59 today. Quite perceptively and against the run of high public expectation, BRF decided to remain president of his home rather than joining the initially crowded train for the Presidency of the country. But without a doubt, his confidence in, devotion and commitment to the development of Nigeria remains ever unwavering. Indeed, BRF has become a brand name for efficiency, effectiveness, diligence, commitment and tenacity of purpose. The name will continue to resonate long after he leaves public office and whenever and wherever there is a need for devotion to duty, progressive idealism and commitment to Law and Order. Probably because of his desire to serve away from the mainstream leadership - which agrees perfectly with his often-stated philosophy of commitment to service to one’s fatherland even “without a title or an office" - his engagements with the public will continue to revolve around the preoccupation with the attainment of a better society, governed by law and order, for all. Just as Gabfest, a youth-focused conversation platform created in 2016 to commemorate BRF's birthday. This year's edition will explore the theme, “Why am I Voting?” This topic which agrees significantly with the mood of the nation, currently undergoing the processes leading to the 2023 General Elections, will seek to examine the motivations of a cross-section of Nigerians behind their electoral choices. During Gabfest 6, carefully selected panelists will interrogate their personal desires and expectations in relation to the Nigerian elections. Is their focus on transparency? Is it on better power or healthcare? Is potable water their challenge? Do they intend to vote across party, gender or ethnic lines? Have they voted in the past and for what position? These are just some examples of the questions that will hopefully yield a robust and lively discussion. Having addressed such testy questions as, “Restructuring for a Better Life – Lessons from Brexit” and “What can the President Do for me?” in previous public lectures, you can trust Mr Fashola for encouraging a discourse on such a simple yet challenging question as “Why am I Voting?” Perhaps as a prelude to this and a proof of his avowed commitment to the essence of performing basic civic obligations and maintaining order to keep society functioning optimally, Fashola in a virtual presentation he made recently at a symposium in Lagos with the theme, “Driving and the Nigerian in You” interrogated the nexus between individual conduct and public well-being. In the presentation, he sought to graphically illustrate that it is neither solely the failure on the part of government nor lack of good roads that cause traffic jams or road mishaps on the nation’s highways and intra-city roads but the non-compliance to Law and Order by some members of the public including even the supposed law enforcers in some instances. According to him, “We are converting what we built for traffic movement into other uses. It is totally against traffic and all other kinds of laws. So, I still say that traders cannot trade on our streets, buses cannot park on the sidewalks. Pedestrians must leave the roads. They must remain on the sidewalks that separate pedestrians from motorists. If these things happen, we will leave the stress, the tensions, accidents and the deaths that we experience as a result of those anomalies.” The point must, perhaps, be made here that in advocating the adherence to Law and

Fashola Order by the citizens, BRF has not in any way tried to shield the elite and the leadership from the guilt of infractions of law and order in their duties. As a matter of fact, there are very many occasions when in his tour of duties as Governor or Minister, he had personally enforced the law, especially traffic laws, on government officials including high ranking police and army officers. But he, however, maintains that it is incumbent on all citizens to insist on the compliance to Law and Order whenever their rights are being infringed upon by political office holders and those in positions of leadership. And to prove his earlier assertion that 87 percent of road crashes in the country are caused by human factor, he showed an abridged version of the 2021-April 2022 monthly reports of road crashes across the country by the Federal Road Safety Corps (FRSC) saying the situation had been so since he had been Minister. “What I have done is to separate those items which are human causative factors of road crashes and I have come up with 19 of such factors. I listed 13 of these factors which cause up to 87 percent of road crashes. And I say if these are eliminated, we would have eliminated by 87 percent the cause of road crashes,” he said. Fashola, who cautioned against indiscriminate donation of motorcycles and tricycles to illiterate youths by politicians and elites in society in what they refer to

as “Empowerment”, added, “We see a lot of motorcycles now inflicting pains on our lives. But who are the biggest donors of this Korope and Maruwa (Tricycles)? …Politicians, government officials and the elite; they call it empowerment...” Saying all Nigerians have a role to play in bringing about law and order in the country, the Minister recalled an incident in Lagos, when he was State governor, when a citizen, Lanre Adio, insisted on his right of way to Lagos Mainland when a convoy of buses driving against traffic tried to force him out of the way, thereby causing a serious traffic jam on the Third Mainland Bridge. “I had finished my work in Alausa one day and we were heading to the Island on Third Mainland Bridge. Normally at that time on a normal day, traffic would be light on the Island-bound traffic from Alausa. But this night the traffic was heavy. And as we inched towards it, I had to send some of our security details to go and see what was happening; and you can bet or imagine what happened,” the Minister narrated. “Citizen Adio was driving with his daughter on the Mainland-bound side heading for the Oworonsoki end of the road. They were on their right side of the traffic and they were heading home when a long convoy of vehicles, including a public transporter who was driving against traffic was asking those who had the right of way to leave. Many left, but Citizen Adio was scandalised

so he refused to leave.” Fashola said in his presentation that despite invectives thrown at him by passengers in the offending bus, the man stood his ground till he arrived the scene and used his power of law enforcement “to force all the convoy back, made some arrests and then set Citizen Adio on his way.” Posing the question, “Are we ready to act like Citizen Lanre Adio?” he asked his audience and proceeded to list more of the ways through which the high and the low contribute to dysfunctionality in society. “So, we must bring all of these to bear on ourselves. What will protect all of us when all is said and done is law and order, for the rich and the poor. We cannot trade on the streets, we cannot have big men driving unregistered vehicles or they cover their name plates and we cannot identify who did what with the vehicle. It makes crime detection very difficult. And at the end of the day it is just Law and Order.” Rooted in the evergreen definition that “Law and Order exists for the purpose of establishing justice,” BRF has, in his now nearly two decades of public service, preached and led by example the essence of Law and Order as a foundation on which the sustainable development and progress of any nation could be laid. He has continually built on this philosophy, perhaps with the consciousness, without doubt, that when Law and Order fail to establish justice “they become the dangerously structured dams that block the flow of progress”. So, what has all this got to do with the coming General Elections, and what is the relation to the topic of the Sixth Gabfest. The truth of the matter is that this election will afford the people of Nigeria the opportunity to choose leaders that will maintain Law and Order and the Rule of Law. With political parties waiting to begin official campaigns in earnest, BRF could only mean that any conversation involving compliance to Law and Order must involve everyone, including those aspiring to political leadership and those entrusted with the enforcement of Law and Order. And if the topic, “Why am I Voting?” could also be expanded to read “Why am I voting for Candidate A or Candidate B,” then the question challenges all electorate to interrogate their true reason and motives for voting any aspirant to the position of leadership. Can such aspirants fulfill the yearning for security, peace, unity and good governance? In that virtual presentation, BRF also spoke of the importance of continuity in governance especially good governance and knowledge and understanding of leadership. Citizens, he said, must not only appreciate good governance when they experience one but must also insist on it under any leader that emerges after the elections. He elaborates on this by recalling the investments as Governor of Lagos State for two terms of eight years. “When I look back to some of the investments that we made in Lagos and also across Nigeria; the Drivers’ Institute and training schools set up to train people to improve productivity, to set order and separate motorists from motorcyclists and all that, it is really a matter of regrets that we are still where we are. Many of the gains have been rolled back,” he said. Stretched further, the topic, “Why am I Voting?”, could also mean that citizens must be ready to challenge their leaders when they are derailing from the path of good governance; when they deliberately tow the path of negligence in matters pertaining to the interest of the electorates and inclining to situations unacceptable to them. Surely, as BRF turns 59 today, many Nigerians would wish him a happy birthday as a shining example of good leadership in whose steady hands the legacy projects of the current administration of President Muhammadu Buhari in life-defining road transport infrastructure are making rapid progress towards the finish line. They are also looking up to him for dedicated service to the nation at whatever level he chooses to be going forward with or without a title. Happy Birthday, BRF. r.S )BLFFN #FMMP '/(& JT 4QFDJBM "EWJTFS $PNNVOJDBUJPOT UP UIF )PO .JOJTUFS

T H I S D AY ˾ WEDNESDAY JUNE 29, 2022

FEATURES

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

EquippingYouths withVocational Skills the NDYEP Way Mary Nnah reports on the recent move by Niger Delta Employment Pathways, an initiative of the Foundation for Partnership Initiative in the Niger Delta, through its pilot project with funding support from Ford Foundation, to train and equip 4,355 youth with in-demand vocational skills in four growing sectors, which are ICT, building construction, agriculture, and finished leather

o curb unemployment, crimes, and youth restiveness nationwide, the Youth Employment Pathways (YEP), an initiative of the Foundation for Partnership Initiative in the Niger Delta (PIND), has through its pilot project, Niger Delta Youth Employment Pathways (NDYEP) with funding support from Ford Foundation, trained and equipped 4,355 youth with in-demand vocational skills in four growing sectors, which are ICT, building construction, agriculture, and finished leather. A total of 2,033 successful participants were linked to immediate waged employment or supported to commence innovative enterprises of their own. YEP was piloted in two phases between September 2017 and March 2021 as an NDYEP project in three states in the Niger Delta region, namely Abia, Akwa Ibom, and Rivers. Following its success in the pilot states, the project was extended to Delta State in 2021 as the Youth Employment Pathways - Delta. The initiative was designed in emerging sectors of agriculture, construction, finished leather, ICT, and renewable energy that showed great potential for youth employment according to the labor market assessment conducted in the states. One of those involved in the training of the youth, Lady Chigozie Uche, a technical and educational trainer based in Abia State, explained the lack of access to economic opportunities in the Niger Delta, Nigeria’s oil-rich region is one of the leading causes of unemployment. She expressed the belief therefore that the project is a panacea to the twin problems of unemployment and restiveness in the Niger Delta. “We trained about 350 youth in construction fields such as carpentry, masonry, electrical installations, and welding. Out of these youth that we trained, there are about 46 that are working on their own now”, she recalled. “NDYEP has helped to address unemployment in the Niger Delta because these youth wouldn’t have been where they are now without this programme.” Unemployment has always been linked to crimes and militancy in the Niger Delta

PIND's Executive Director, Tunji Idowu, handing over signed MoU to Eno George of Ibiteinye Integrated Farm, during the Niger Delta Youth Employment Pathways Program (NDYEP) scale-up grant signing ceremony held recently in the Niger Delta region, however, Uche, whose Kiara de Luke Academy was recently signed up as an implementing partner in the scale-up of the YEP project, revealed that many youths who hitherto were involved in kidnapping are now coming out to find out about such training opportunities, adding that, they now know that learning a craft is far better than going into crime. “It has reduced crimes and criminality because we can move freely around here now. We had three ex-militants that joined our first training, and today, they are doing well”, she noted. Executive Director of Azure Gold Development Foundation, Fabian Emmanuel, who is also an implementing partner of the project, believes that creating job skills and opportunities can resolve the youth unrest in the Niger Delta region of Nigeria. “Militancy, criminality, and unemployment are linked together. These hitherto idle people and unemployed have been taken out of unemployment,

and are engaged”, Emmanuel said. “They now become very busy, involved in productive activities. It has taken them out of those vices”. While admitting that more needs to be done to address unemployment in the region, he said the YEP is “helping to reduce the unemployment curve in the Niger Delta because some of those we have trained, we have had them in different enterprises”. For Mary Ogbonna, being part of the project was a dream come true because she was never satisfied with working as a salesgirl at the Aba market before coming across the opportunity to be trained under YEP’s pilot initiative, NDYEP. . “Before the NYEP project, I had a life, but it was not the kind of life I dreamt of. I used to be one of those sales girls at the market in Aba to assist my aunty, but then I have always wanted more for myself,” she said. After taking part in the first phase

of the project, she has worked as a market research journalist for Google PPDC and Google digital skills trainer and even cofounded a startup. Buoyed by the success recorded in its pilot phases and the potential for job creation as well as reduction of crimes and militancy, PIND, in March 2022, awarded over N104million in grants to 12 implementing partners to train 1,000 youth in the Niger Delta region in various technical and soft vocational skills for at least six months, starting in May 2022. Tunji Idowu, the Executive Director of PIND, commended the implementing partners whose performance, according to him, precipitated the success of the project. “I would like to acknowledge our implementing partners whose performance during the pilot phase led to its success”, Idowu said at the signing ceremony to onboard the 12 implementing partners involved in the project’s scale-up in Abia, Akwa Ibom, and Rivers states. The partners must improve their service delivery in the scale-up phase to ensure the youth participants make early transitions to jobs and entrepreneurship after vocational skills training. The PIND Chief explained the Foundation’s decision to scale up the project to the original pilot states because there remained a need for such based on the lack of a feasible economic environment that opened doors for waged income. The YEP model has allowed for adequate time for participants to demonstrate competence in their chosen trades. It has helped in providing post-training support such as job linkages and enterprise/ start-up support and mentorship, which are the components that are lacking in most of the other skills acquisition programmes organised by the government and other organisations. PIND said the YEP is an innovative model designed not just to train but to prepare youth with market-relevant skills for securing sustainable jobs. So, implementing partners believe that such a unique model should be sustained and replicated by governments in the Niger Delta region.

Stakeholders Advocate Collaborative Regulatory Environment for Industrial Development Chiamaka Ozulumba

ndustry stakeholders have urged government regulatory agencies to de-emphasise revenue generation and focus more on enterprise facilitation in a bid to ensure industrial and national development. This call was made by a panel of discussants during the recently concluded Nigeria Employers Summit 2020 themed ‘The Private Sector as Engine for National Development’. The summit, which was organised by the Nigeria Employer Consultative Association (NECA), held in Abuja, on June 20 and 21, 2022. Setting the tone for the panel discussion on the topic ‘Building a Collaborative Regulatory Environment for Enterprise Competitiveness, Job Creation and National Development’, the Director-General, Manufacturers Association of Nigeria (MAN), Engr. Segun Ajayi-Kadir, said that the duty of the regulator is not only ensuring that manufacturers do not exploit consumers or take undue advantage of them but to also protect the regulated industries. “It is also the duty of the regulator to

ensure that we have a situation whereby the industry player feels very safe, is legally protected, its assets and investments are secure, and is guaranteed survival. The people also must be protected from manipulation and unfair treatment by the industry,” he remarked. He said further that the regulator must also see to the longtime interest of the industry, noting that paucity of funds by government to maintain regulatory agencies is often responsible for the aggressive and inordinate internal revenue drive. Delivering a policy paper at the session, the DirectorGeneral, Securities and Exchange Commission (SEC), Mr Lamido Yuguda, represented by the Executive Director of Corporate Services, SEC, Ibrahim Boye, said that the SEC has continued to strive to fulfil its mandate in creating an enabling environment

for market operations. Also, in an address at the session, the External Affairs Director, BAT West and Central Africa, Odiri Erewa-Meggison, lauded NECA and MAN for effective representation of the private sector, while calling for greater collaborative regulatory environment between the organised private sector and government agencies. “A collaborative regulatory environment means creating the enabling environment for the organised private sector and government agencies to work together for national development. This involves having a seat at the table when key decisions that impact our industries are being made,” she said. While commending the Nigerian Customs Service (NCS), the Standards Organisation of Nigeria (SON), the Federal Consumer and Competition Council (FCCPC), the National Agency for Food and Drug Administration and Control (NAFDAC), among others, for trade facilitation, Erewa-Meggison also urged government to demonstrate the “willingness to work with private sector players to collaborate in establishing sustainable regulatory frameworks that will secure current investment in the country and

create additional investment opportunities that will benefit our economy.” Earlier in his welcome remarks, the President Nigeria, NECA, Mr Taiwo Adeniyi, said that the inaugural summit will serve as a credible national platform on which the nexus between a healthy private sector and sustained national inclusive growth will be predicated with focus on promoting enterprise development as a major source of national growth. In another panel session titled ‘Deepening Fiscal and Monetary Policies for Enterprise Growth: Imperative for a Collaborative Growth-focused Engagement’ discussants, including the CEO, Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, and Fiscal Policy Partner and Africa Tax Leader at PwC, Mr Taiwo Oyedele, underscored the importance of policy in the investment environment, noting that employment creation, which is expected to be driven by the private sector, can only be achieved in a conducive policy environment. They noted that, apart from infrastructure, fiscal and monetary policies are at the centre of an enabling environment for business.

WEDNESDAY JUNE 29, 2022 • T H I S D AY

WEDNESDAY, JUNE 29, 2022 ˾ T H I S D AY

FOCUS Will New Management Salvage the Reputation of A Dithering Ecowas? By Paul Ejime

r Omar AlieuTouray, a Gambian diplomat and economic development expert should normally be excited as he gets set to assume the Presidency of the Commission of the 15-nation Economic Community of West African States (ECOWAS) in the first week of July 2022. But that excitement will be diluted by the burden of the leadership deficit he inherits from the outgoing management of the regional bloc set up in 1975 to foster economic integration. The fact that Dr Touray is coming with a slimmer seven-Commissioner management, from the wieldy and wasteful 15-Commissioner structure could be a source for hope however. If he succeeds in repositioning the wobbly organization, he will etch his name in gold, but it is a tough call given the level of rot and reputational damage suffered in the last decade by an organization, which hitherto was internationally acclaimed for its peace-keeping, conflict management and resolution credentials. When he hands over to Touray, and moves on to the Central Bank of West African States, BCEAO as Governor, Cote d’Ivoire’s Jean-Claude KassiBrou, the out-going ECOWAS Commission President, would be leaving the organization certainly worse than he and his management team met it four years ago. Some of the major criticisms of the ECOWAS management include lack of capacity, vision and proactivity, and the allegation that manytop-level personnel have become laser-focused on pursuing the narrow interests of their home governments instead of the desired wider, regional, and supranational agendas. This phenomenon has dealt a dangerous blow to the delivery of community projects, with many senior officials more interested in embarking on back-to-back missions that produce little or no benefits for the community other than travel allowances in private pockets. Consequently, it has become commonplace for development partners to complain about ECOWAS’ “lack of absorptive capacity” even when the organization is saturated with “square pegs in round holes.” Hopefully, Dr Touray is well-informed and has come prepared for the monumental task ahead of him. In his Manifesto for the ECOWAS job, entitled “TowardsSharedProsperity,”he acknowledges“prosperity as the security from want with respect to food, shelter,safety of persons, property and the environment.” “Shared prosperitytherefore implies prosperity that is inclusive in a manner that cutsacross geographical, political, social, gender, religious, andgenerational divide,” the in-coming President said, adding: “It is my strong conviction that delivering shared prosperity must constitute the raisond’etre of ECOWAS. To this end, I undertake to focus on streamlined initiatives thatwill, deepen integration; build and strengthen peace and security; promote sustainable productivity and inclusive development;entrench good governance; (and) foster equitable partnerships.” But manifesto and reality are two different animals. For instance, Dr Touray acknowledges that intra-Community trade, economic and monetary integration,and social integration in terms of freedom of movement, residence and establishment would be difficult, when “Intracommunity trade within ECOWAS hovers around USD$180 billion per year, representing barely 28% of regional Gross Domestic Product (GDP) and around 12% of the external trade of the region. No thanks to the foot-dragging by some ECOWAS member States on customs union and other convergence criteria for economic and monetary union, France in cahoots with some francophone countries led by Cote d’Ivoire, has hijacked theECO, which ECOWAS has been positioning as the regional currency. This means further delay to the realization of the common currency project. Also, without operationalization of the customs union protocols, especially the Common External Tariffs (CET) regime and a harmonized regional approach, ECOWAS risks losing out on the benefits of the African Continental Free Trade Area (AfCFTA). Although the organization has recorded considerable achievements in free movement of persons, Dr Touray reckons that “a lot more is required to consolidate the gains in the area of social integration.” Peace and security and political governance are areas where ECOWAS has fared so poorlyin the past decade, especially under the leadership of Brou and the almost two-year tenure of Ghanaian President Nana Akufo-Addo as Chair of the Authority of Heads of State and Government. When tenure elongation is causing political instability in the region, the management of ECOWAS institutions requestedand got three months’ extension this year. Long-overdue institutional reforms linger, while recruitment of new staff is taking place at a time of

AlieuTouray leadership transition. In 2012, ECOWAS launched an ill-advised expansion of the Commission from nine to 15 Commissioners, with all the financial implications. That decision has now been revised to a sevenmember Commission. Dr Touray and his team must prove that a smaller structure is more cost-effective. Another unresolved issue is harmonizingthe leadership recruitment processes for the Commission’s Presidency and Chairmanship of the Authority. While the former has been changed to alphabetical order, the latter is based on language group. For instance, while the Commission has been headed by candidates from one of the region’s three linguistic groups since 2011, the rotational chair of the authority has followed the language group criterion. Furthermore, ECOWAS, which was widely praised for ending the civil wars in Liberia and Sierra Leone, and managing the political conflicts in member states such as Guinea, Niger, Cote d’Ivoire and Guinea Bissau with effectiveness, has fallen short of its standards in the past decade. With the death of Libyan leader Col. Moammar Ghaddafi in 2011, the Western Sahel has become the epicenter of insecurity exacerbated by terrorism, jihadist and separatist insurgencies, which have spilled into much of the ECOWAS region. Instead of leading by example to consolidate democracy in West Africa some leaders have used the so-called democratic principles to undo democracy. They have combined corruption with greed, nepotism, violation of human rights, and disrespect for the rule of law, election rigging, and manipulation of national constitutions to undo the democratic gains of the early 2000s. The region’s inability to deal with insecurity, bad governance and tenure elongation by its leaders have resulted in the resurgence of military incursions with three ECOWAS member States – Mali, Guinea

and Burkina Faso -currently under military rule. Dr Touray’s management must find an effective solution to the unfinished business in these three countries, which have been suspended from ECOWAS and with stifling sanctions imposed on Mali. Some analysts also believe that Nigeria, as the regional power and biggest financial contributor to the ECOWAS budget should not standby and allow the organization to be run aground. Meanwhile, the West African civil society, under the auspices of the ECOWAS Community Citizens has in an open letter to the ECOWAS Chairman condemned the refusal by Togo, Cote d’Ivoire and Senegal to support 12 other member States on the proposed amendment of the regional Supplementary Protocol on Democracy and Good Governance to compel countries to insert in their constitutions provisions for a limit of two terms for the presidency. Should the three countries persist in their objection, the group urged the Chair of the Authority “to invoke Article 20 of the Rules of Procedure of the Conference of Heads of State and Government” and nullify the objection. They cited Guinea, whose former President Alpha Conde, followed the example of Cote d’Ivoire, to ram through a referendum and constitutional amendmentthat enabled him to extend his tenure only to be topped by a military junta. Dr Touray has promised to “give priority to early warning mechanisms and preventive diplomacy that will address risk factors before conflicts break out. Equally, ECOWAS rapid response capability must be strengthened through the operationalization of the regional Standby Force.” He has also assured that “the peace and security architecture of the Community should equally integrate effective measures to combat terrorism and other crimes including money laundering, cybercrimes, trafficking in small arms and light

weapons.” “If any single factor accounts for peace and security,” Dr Touray said, “it is good governance in the political, economic and corporate spheres. In the political sphere, ECOWAS must entrench good governance, rule of law and respect for human rights in the region. Constitutionalism and constitutional order must be promoted and consolidated. Peoples’ will, as reflected in the national constitutions must be respected. And the integrity of elections and electoral process must not be violated,” he affirmed. The Gambian diplomat brings to his new job years of experience, having served as his country’s Ambassador and Permanent Representative to the African Union and Ambassador to Ethiopia with concurrent accreditation as High Commissioner to South Africa and Kenya. He was the Gambia’s Permanent Representativedesignate to the United Nations in New York before being appointed Minister of Foreign Affairs and International Cooperation. The new ECOWAS boss also worked as Regional Policy Advisor at the Regional Bureau for East and Central Africa of the UN Food Programme; Consultant to the UN Economic Commission for Africa; UNDP, Gambia Country Office, and the Commission of the African Union. Until his latest appointment, Dr Tourayworked at the Islamic Development Bank in Jeddah, Saudi Arabia, since 2012. He holds a Ph.D. in International Relations from the Graduate Institute of International and Development Studies, University of Geneva. He also studied Finance and speaks English, French and Arabic. His publications include “The African Union: The First Ten Years” (2016). It remains to be seen how he matches his manifesto with action on the ECOWAS saddle. t1BVM &KJNF JT B (MPCBM "GGBJST "OBMZTU B GPSNFS 8BS $PSSFTQPOEFOU BOE BO *OEFQFOEFOU $POTVMUBOU PO $PSQPSBUF 4USBUFHJD $PNNVOJDBUJPO .FEJB 1FBDF 4FDVSJUZ BOE &MFDUJPOT

WEDNESDAY, JUNE 29, 2022 ˾ T H I S D AY

2023 CAMPAIGN WATCH 24 Years After, Lawan to Bid National Assembly Farewell? SAMUEL AJAYI

E-mail: yemielegance@gmail.com

Mobile: 08033083367

anity seemed to have prevailed last week when the Independent National Electoral Commission, INEC, published the names of senatorial candidates and missing were two very prominent names. These were those of the current Senate President, Ahmad Lawan, and former governor of Akwa Ibom State, Senator Godswill Akpabio. Their names were initially in the list making the rounds. And perhaps, only the ruling All Progressives Congress, APC, and INEC itself could explain how the names of Lawan and that of Akpabio got into the list of those cleared to contest for senatorial seats on the platform of the party in the first place. In fact, more intriguing and surprising was that of Lawan who was busy chasing the presidential ticket of the party when the senatorial shadow election was taking place. While Lawan was in Abuja fighting tooth and nail to win the APC presidential ticket, the senatorial primary elections were held across the country and Bashir Sheriff Machina won the ticket for Yobe North Senatorial seat. The thinking in many quarters was that Machina was holding the ticket in trust for Lawan but after the Senate President lost the presidential ticket bid, he turned his attention back to the senatorial contest and Machina made it clear he was not going to step down for anyone. “I am being approached by some persons but I would not withdraw,” Machina said about a week ago. “As far as I am concerned, I contested for the Yobe North senatorial ticket and won the election. I was confirmed elected because there were other contestants but I was that one that was qualified. I happened to be unopposed.” Lawan has been in the National Assembly since 1999. He was a two-term House of Representatives member before becoming a senator in 2007. And in 2019, he was elected as the Senate President and Chairman of the Ninth Assembly. He did not contest for the senatorial seat as he was busy scheming for the presidential ticket of the APC. And he even got as close as the National Chairman of the party, Senator Adamu Abdullahi, announcing he had been adopted as the consensus candidate of the party before other aspirants vehemently kicked against it. He failed woefully at the presidential primaries before falling back on the senatorial ticket but Machina said he would not step down. However, in a new and strange twist, Lawan’s name had been announced by INEC as the APC senatorial candidate for Yobe North Senatorial District. This was despite the fact that he did not participate in any primary election in the senatorial district. But even at that, his name made it to the list earlier announced by INEC. If that of Lawan was a farce, that of former Akwa Ibom State governor, Godswill Akpabio, was a shocker. Akpabio had withdrawn as a presidential aspirant of the APC, announcing that he was supporting the candidature of former Lagos State governor, Senator Bola Tinubu. Before then, the senatorial primary election for Akwa Ibom North-west Senatorial District had been held on May 27 with Udom Ekpoudom, a former deputy inspector-general, DIG, of police emerging as the winner. INEC even confirmed that its agents supervised the exercise. As at this period, Akpabio was still busy with

Lawan (left) and Akpabio winner. Speaking later, the Resident Electoral Commissioner for Akwa Ibom State, Mike Igbini, said the Commission did not monitor any exercise outside the one held on 27th May which produced Ekpoudom. Hear Igbini: “Senatorial primary was conducted on 27th May; was he (Akpabio) an aspirant on that day? The answer is no and the report of that day has since been written. The event had taken place and concluded before the presidential thing came up. He’s the one people should be asking questions if he participated in that primary. INEC is not involved in the conduct of party primaries. We are just an observer.” It remains to be seen what the two political heavyweights would do now. Would they keep their bid of returning to the Red Chamber alive by decamping to another party and become politically irrelevant after May next year? It remains to be seen. But barring any unforeseen circumstances, both Lawan and Akpabio would not be returning to the Senate next year.

Tinubu his presidential ambition. However, a parallel primary election was held on the same day which allegedly produced one Ekperikpe Ekpo. This was cancelled over irregularities.

TINUBU AND THE GHOST OF 1999 Surprisingly, another rerun was held on June 8, a day after the presidential primaries that produced Tinubu from which Akpabio withdrew at the last minute, and Akpabio was declared the

“While Lawan was in Abuja fighting tooth and nail to win the APC presidential ticket, the senatorial primary elections were held across the country and Bashir Sheriff Machina won the ticket for Yobe North Senatorial seat. The thinking in many quarters was that Machina was holding the ticket in trust for Lawan but after the Senate President lost the presidential ticket bid, he turned his attention back to the senatorial contest and Machina made it clear he was not going to step down for anyone.”

The first time the issue of the primary and secondary schools attended by the presidential candidate of the ruling All Progressives Congress, APC, Senator Bola Ahmed Tinubu, reared its head was shortly after he became the governor of Lagos State in 1999. That time, the late human rights activist and lawyer, Gani Fawehinmi, pursued the matter with so much vigour to the extent of asking the Inspector-General of Police to open an investigation into the matter. Even when the governor was covered with immunity from prosecution going by the provisions of the 1999 constitution. The matter died a natural death until four years later when Tinubu was to seek a second term in office and it came up again. But that time, it did not generate any furore like it did four years earlier. But it was like a ghost that was buried but not destroyed. Fast-forward to 2022, 19 years after he filed for a second term in 2003 and fresh questions have emerged again on whether the former

T H I S D AY ˾ WEDNESDAY, JUNE 29, 2022

2023 CAMPAIGN WATCH

Staying Close With 2023

Aregbesola (left) and Oyetola Lagos State governor actually attended the Chicago State University in the United States and the primary and secondary schools he attended. In the presidential nomination form he completed and submitted to the Independent National Electoral Commission, INEC, Tinubu left the column for primary and secondary schools blank. He only completed that of the university. Now, questions are being asked: which primary and secondary schools did the consummate politician attend? In 2003, he claimed he attended Saint Paul’s School, Aroloya, Lagos. But former military governor of the old Ondo State and a known political opponent of Tinubu, retired Rear Admiral Olabode George, had claimed there was no school called Saint Paul, Aroloya. A civil society organisation has called for the arrest and prosecution of the presidential candidate but his legal team has dismissed this. But more worrisome is the deafening silence from both the Presidency and the party’s national secretariat in Abuja. Will they stand with Tinubu as this saga festers or not? Or is there more to it in the first place?

OSUN 2022: DID AREGBESOLA AND OYETOLA ACTUALLY MAKE UP? When photographs of Osun State governor, Gboyega Oyetola, and immediate predecessor and current Minister of Interior, Ogbeni Rauf Aregbesola, surfaced last week, many APC supporters who would rather the two reconcile ahead of the July 16 governorship election in the state. In the said photographs, the two politicians were seen hugging each other, amid applause from the audience. However, words have emerged that the photographs were not recent and that there was no reconciliation between the two; meaning that Oyetola could not count on Aregbesola’s support in his bid to see off the challenge of the People’s Democratic Party, PDP, candidate, Senator Ademola Adeleke. Speaking over the weekend, the leader of The Osun Progressives, a faction of the ruling APC in the state loyal to Aregbesola, Lowo Adebiyi, said there was no reconciliation whatsoever between the two. The Osun Progressives supported the aspiration of Moshood Adeoti during the governorship primary election that produced Oyetola as the governorship candidate of the party. Adebiyi said the pictures of Oyetola and

Fayose Aregbesola in a warm embrace which made many believe the two had made up were not recent. He said the pictures were actually over two years’ old. “They are old pictures. Members of the Ileri Oluwa group are behind it. Disregard them. If there will be reconciliation, it is not pictures that you will see first. Discussion will be held first. No discussion yet. Nothing happened. No reconciliation yet,” Adebiyi said.. Apparently confirming what Adebiyi said, Rasaq Salinsile, the chairman of the APC faction loyal to Aregbesola, told a newspaper correspondent (not THISDAY’s) that the pictures were taken about three years ago when the minister came to the state for an official assignment of his ministry and decided to pay a courtesy call on Oyetola. This won’t be a piece of good news for APC faithful in the state who have been praying the duo reconcile for the good of the party in the coming governorship election. Aregbesola, who did not support Oyetola for second term, had actually supported Adeoti, but basking on the support of the national secretariat of the party, Oyetola had trounced Adeoti in the primaries. While meeting his supporters, Aregbesola had launched a scathing attack against Senator Bola Ahmed Tinubu, the National Leader and presently the presidential candidate of the party. He had accused Tinubu of playing god. Though Aregbesola and Tinubu have been seemingly reconciled by some prominent Yoruba leaders, but it is obvious that the issue is far from being resolved. For instance, supporters of Aregbesola claimed last week that the former governor was not named among the campaign team

set up by the party for the purpose of prosecuting the election. The team was headed by current Lagos State governor, Babajide Sanwo-Olu. A supporter of Oyetola, who did not want his name in print, told THISDAY on Monday that Aregbesola would be “politically disgraced in Osun” on July 16. He said though there were question marks on the Oyetola’s legitimacy with many believing he did not actually win the 2018 election, the fact is that he has really done well and has wormed his way into civil servants’ hearts in the state. As weeks will soon turn into days ahead of the election, it will soon be seen how strong or otherwise Aregbesola is in Osun politics. It promises to be interesting.

EKITI: PDP, FAYOSE AND THE MORNING AFTER It is no longer news that the opposition People’s Democratic Party, PDP, lost woefully the recently-concluded governorship election in Ekiti State. The party actually came third garnering a paltry 62,000-plus votes and finishing, alarmingly, by over 125,000 votes behind the eventual winner, All Progressives Congress, APC’s Biodun Oyebanji. In fact, the Social Democratic Party, SDP, which came second, garnered over 82,000 votes. Even before the election, virtually everyone in the state, even in the rival APC, agreed that Segun Oni, who eventually ran on the platform of the SDP, would have been a better challenger to Oyebanji than Bisi Kolawole who Fayose practically imposed on the party. Against better counsel, Fayose had stubbornly stuck to Kolawole; thereby not only ostracising other major stakeholders of the party but also the national secretariat.

“Though Aregbesola andTinubu have been seemingly reconciled by some prominentYoruba leaders, but it is obvious that the issue is far from being resolved. For instance, supporters of Aregbesola claimed last week that the former governor was not named among the campaign team set up by the party for the purpose of prosecuting the election.”

Former Minister of Foreign Affairs and a major leader of the party, Chief Tom Ikimi, said the national office of the party knew what the outcome of the election would be even before the first ballot was cast. He said Fayose had practically ruined the party with the way he pushed his preferred candidates. He was unsparing in his choice of words: “I am not afraid to say that our problem in Ekiti has been caused by the activities of our past governor, Ayo Fayose. He ended up, on election day, rolling on the floor and crying, but that did not get us anywhere. Put that to rest. The build-up to the choice of the candidate in Ekiti was a big struggle. All kinds of meetings, peace interventions, until we had the heart to push away Segun Oni, who went to SDP (Social Democratic Party) that was not known here. The outcome is clear. He ruined the place before he left office.” It was even reported that the national body of the party did not even bother to set up any campaign committee to help the party and there was no mega rally to galvanise party faithful ahead of the election. However, the woeful performance of the party was sure to have repercussions. And there will also be casualties. Sources told THISDAY that leaders and even foot soldiers of the party in the state have been meeting in order to reorganise the party and also reposition it. And it was a unanimous decision that former Governor Fayose should step aside and allow a new leadership to emerge which will accommodate different tendencies within the party. In fact, even some of Fayose’s supporters have supported the call for the former governor to let the party be and loosen his grip on the party in the state. “Fayose has been the sole decider of whatever happens in the party for the past eight years,” a chieftain of the party told this reporter during a recent trip to Ado-Ekiti, the Ekiti State capital. “In fact, the so-called party exco in the state practically does nothing. All decisions are taken by Fayose; even to the extent of managing the finances of the party in the state. If you want to make a payment, the account they will give you is that of an individual.” From all indications, Fayose himself seems to have read the handwriting on the wall and might be ready to let the party be. But being a fighter that he is, he won’t let go without a fight.

WEDNESDAY, JUNE 29, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Russia Launches New Missile Attacks on Ukraine Russia targeted more Ukrainian civilian sites with missiles on Tuesday, Ukrainian officials reported, a day after a deadly strike on a shopping centre in the city of Kremenchuk that killed at least 18 people. The new Russian attacks killed at least eight civilians, the officials said, in strikes on the southern Ukrainian port city of Mykolaiv and the northeastern reaches near Kharkiv, the country’s second-largest city. Among those killed was a 6-year-old girl, while dozens were injured, including a 3-month-old baby left in a coma. A Mykolaiv regional military administrator said Russia launched at least 11 missiles on targets in the region, with some missiles shot down by Ukrainian air defence systems and others getting through. A military spokeswoman said Russia fired on the city using the same Soviet-era Kh-22 anti-ship missiles used in the strike on the shopping mall in Kremenchuk. Russian forces also shelled civilian areas in the Kharkiv region, Ukrainian officials said, with at least five people killed there in the last 24 hours and another 22 wounded, including three children. The new attacks came as the United States once again ramped up sanctions against Russian defence entities and individuals carrying out Russian President Vladimir Putin’s invasion of Ukraine, now in its fifth month.

survey, which is held every five years, also revealed a growing number of Australians identifying as indigenous. According to the new census data, Australia’s demographics are changing rapidly, and it is becoming increasingly culturally diverse. More than half of its residents were born overseas or have an immigrant parent. Indians are now the second-biggest immigrant population after those from Britain, overtaking settlers from China and New Zealand. More than one million people have moved to Australia since the last census in 2016. The vast majority — about 850,000 — arrived by the end of 2019 before the start of the pandemic and the closure of Australia’s international borders. The research has shown the number of people who use a language other than English at home has increased to more than 5.5 million people since 2016. Of those, 850,000 reported that they did not speak English well or at all. Australian Bureau of Statistics’ deputy statistician Teresa Dickinson told a news conference Tuesday the country is becoming increasingly multicultural. “The number of us who are first-generation Australians — those born overseas — and second-generation Australians — those with one or both parents born overseas, which includes me — has grown and is now over half the Australian population.”

UN: Over 300,000 Civilians Killed in 10 Years of Syrian War More than 300,000 civilians were killed in Syria between March 1, 2011, when that country’s civil war began, and the end of March 2021, the UN Human Rights office reports. A new statistical analysis based on available data has arrived at this figure. This is the highest estimate to date of conflict-related civilian deaths in Syria. Each of the civilian deaths in the report is documented, including the full name of the victim and the date and location of death. UN High Commissioner for Human Rights Michelle Bachelet said the conflict-related casualty figures in the report are not just a set of abstract numbers but represent individual human beings. Her spokeswoman, Ravina Shamdasani, said the high commissioner believes monitoring and documenting these deaths is key in helping families and communities establish the truth about the fate of their loved ones. It will allow them to seek accountability and pursue effective remedies. “This analysis will also give a clearer sense of the severity and the scale of the conflict,” Shamdasani said. “And let us be clear, these are the people who were killed as a direct result of war operations. And this does not include the many, many more civilians who died due to the loss of access to health care, to food, to clean water and to other essential human rights.” The United Nations reports the war has forcibly displaced 13.5 million people as refugees and internally displaced.

Sudan Recalls Ambassador from Ethiopia over Soldiers’ Executions Sudan has recalled its ambassador to Ethiopia after Sudan’s army claimed Ethiopian troops executed seven Sudanese soldiers. Sudan announced early Monday it would recall its envoy from Addis Ababa and summon the Ethiopian ambassador from Khartoum. The move comes a day after Sudan accused troops from Ethiopia of executing seven Sudanese soldiers and a civilian and displaying the bodies in public. Later Monday, the Ministry of Foreign Affairs in Addis Ababa issued a statement expressing regret for the incident but said Ethiopia had been misrepresented. It said, “The Government of Ethiopia categorically rejects the misrepresentation of these facts by the Sudanese defence forces that unjustly put the blame on Ethiopia, while it was the Sudanese army unit that crossed (over) the Ethiopian border, provoking the incident.” It went on to urge restraint and de-escalation on the part of Sudan. Border clashes between Ethiopia and Sudan have been ongoing for years, especially in the vicinity of the al-Fashqa region. A highprofile dispute over the building of the Great Renaissance Dam, which Sudan says could limit its access to water, has also strained tensions between the two countries in recent years.

Attack on Pakistan Anti-Polio Team Kills Three People The Sudanese military had said of the alleged executions, “This treacherous act will not pass without a response.”

UNICEF: Children in Armed Conﬂict Subjected to Unspeakable Horrors The UN children’s fund says more than 266,000 violations were committed against children in armed conflict between 2005 and 2020. An analysis of more than 30 conflicts across Africa, Asia, the Middle East and Latin America finds children continue to bear the brunt of war and are forced to endure what it calls unspeakable horrors. Authors of a report on the subject say the figure in the report represents just a fraction of the violations believed to have occurred and does not reflect the magnitude of the crimes committed against children caught in conflict. Tasha Gill is UNICEF’s senior adviser, Child Protection in Emergencies. She says children are victims of a staggering average of 71 verified grave violations every day. She says the report documents the killing and maiming of more than 104,000 children in conflict. “Between 2016 and 2020, 82 per cent of all verified child casualties occurred in only five situations: Afghanistan, Israel and the State of Palestine, Syria, Yemen, and Somalia. It is also important to note that many children experience more than one violation, increasing their vulnerability,” Gill said. She notes abduction often leads to other violations, such as recruitment and sexual violence.

Cameroon Separatists-for-Hire Suspected in Intercommunal Killings Villagers in a western Cameroon town bordering Nigeria say armed men carried out a series of attacks from June 25 to 27, killing at least 30 people, including five Nigerians, and forcing hundreds to flee. Community leaders in the town of Akwaya say one of two communities fighting over land hired separatist fighters to carry out the shootings, which the rebels deny. Enow Daniel Kewong, the highest-ranking government health official in Akwaya, spoke to VOA via a messaging application. “Since the incident was very horrific, we never had the courage to go to the field, so the injured were actually transported by relatives and villagers to the Presbyterian

Health Center where we attended to them,” he said. “Most of the people that were brought had severe head injuries, chest injuries, while few had minor injuries. The severe injuries, we tried to stabilize them and referred them to neighbouring Nigeria for continuation of care.” Cameroon Presbyterian Church official Samuel Fonki said an unknown number of the injured died while being evacuated to Nigeria. VOA could not independently verify if any injured from the attack arrived at Nigerian hospitals. Fonki said the ethnic Oliti accused the Messaga Ekol people of hiring rebel fighters to carry out the attacks to try to force them from their land. Separatists deny they were responsible for the Akwaya killings and blamed unnamed armed groups operating across the border.

US Pledges $55m to Afghan Quake Response The United States will give nearly $55 million in immediate humanitarian assistance to people impacted by a recent earthquake in southeastern Afghanistan. The funds will be used to deliver essential food items, clothing, cooking utensils, blankets, jerry cans, and sanitation supplies to prevent waterborne diseases in the disaster-hit areas. According to the Department of State, the US has been the largest humanitarian donor to Afghanistan and committed more than $774 million in humanitarian assistance over the past year. “The United States has an enduring commitment to the people of Afghanistan, and we welcome and encourage support from our international partners in this time of great need,” Secretary of State Antony Blinken said in a statement on Tuesday. The US announcement came a day after the United Nations appealed for $110.3 million in urgent humanitarian response to some 360,000 Afghans impacted by the earthquake. Several countries in the region, including China, India, Iran, Pakistan, Qatar and the United Arab Emirates, have responded to the disaster with planes loaded with tents, clothes, medical supplies and food items.

National Census: Indian Migration to Australia Increasing Indian immigration to Australia has surged, overtaking China, according to national census data released Tuesday. The

Gunmen in northwestern Pakistan killed three members of a polio vaccination team and injured another Tuesday, even as the country experiences a fresh outbreak of the infectious, crippling disease. Officials said the early morning shooting incident occurred during a door-to-door immunization drive in North Waziristan, a turbulent district on the border with Afghanistan. It left a health worker and two policemen escorting the polio team dead. The wild polio virus has paralysed eleven children in Pakistan this year, the largest number in the world and all of the cases are from the Waziristan district, according to the national eradication program. No group immediately took responsibility for Tuesday’s deadly attack. The United Nations children agency, UNICEF, condemned the attack on the polio team and expressed its sympathy to the families of those killed, saying they were among thousands of heroes who work selflessly to end polio. In a statement released via Twitter, UNICEF said such attacks “aim to prevent every girl and boy from being protected from polio, a disease that causes lifelong disability.” Islamist insurgents are active in North Waziristan and oppose anti-polio drives as a government effort to collect intelligence on their hideouts. Afghanistan and Pakistan are the only two countries where polio continues to paralyse children, although case numbers in recent years have significantly declined on both sides of the border.

Ex-White House Aide to Testify About 2021 Capitol Riot The congressional panel investigating the January 6 riot at the US Capitol last year is set to hear testimony Tuesday from Cassidy Hutchinson, an aide to former President Donald Trump’s chief of staff Mark Meadows, who was privy to key White House conversations as Trump sought to upend his 2020 election loss. Hutchinson’s testimony is shrouded in secrecy and was hastily scheduled Monday, with the House of Representatives panel declining to identify her publicly and saying only that a surprise hearing would be held “to present recently obtained evidence.” Multiple US news outlets identified her as the new public witness, although the panel has previously shown snippets of her videotaped testimony from three private depositions she gave to the committee’s investigators.

T H I S D AY ˾ WEDNESDAY, JUNE 29, 2022

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0.44%

Electronic Transactions: FBNH, Access Holdings, Others’ Fees, Commission Hit N81.8 Billion

Kayode Tokede Following the growing demand for Electronic transactions in the Nigerian banking sector, FBN Holdings Plc, Access Holdings Plc and eight other banks spent a whopping sum of N81.8 billion on customer’s fees and commission expenses in the first quarter ended March 31, 2022, analysis of the banks’ unaudited result and accounts for Q1 2022 has revealed. This is an increase of 30per cent from N63.02 billion reported in Q1

2021. Fees and commissions expenses are fees charged for the provision of services to customers transacting on alternate channels platform of a bank and on the various debit and credit cards issued for the purpose of these payments. The unaudited result and accounts for the period under review revealed showed that the banks incurred the expenses from electronic transfers and E-banking charges. Further analysis of the unaudited result and accounts for the period

ended March 31, 2022, showed that FBN Holdings, followed by Access Holdings Plc were the two financial institutions that incurred highest fee and commission expenses, given to their expansion across Africa. Other were; United Bank for Africa Plc (UBA), Zenith Bank Plc, Stanbic IBTC Holdings Plc, Guaranty Trust Holding Plc (GTCO), Union Bank of Nigeria Plc, Fidelity Bank Plc, Sterling Bank Plc FCMB Group Plc and Ecobank Transnational Incorporated (ETI). In the period under review, FBN

Holdings reported N23.94billion fees & commission expenses, an increase of 23.1 per cent from N19.45billion in 2021, while Access Holdings reported N13.4billion fees & commission expenses in Q1 2022 from N8.22billion reported in Q1 2021, representing an increase of 63 per cent. A breakdown of FBN Holdings’ fees & commission charges revealed that N11.81billion was spent on acceptance cost (Alternative channels) in Q1 2022 from N10.86billion in Q1 2021, while N7.44billion was

incurred as SMS charge in Q1 2022 from N5.5billion reported in Q1 2021. The Holdings added that it spent N4.64billion on agent banking expenses in Q1 2022 as against N2.7billion in Q1 2021, while internet/web expenses dropped to N44million in Q1 2022 from N365million in Q1 2021. According to FBN Holdings, “Fee and commission expense primarily relates to charges raised by switching platforms on holders of First Bank Limited ATM cards, who make use of the other banks machines while

transacting business, and SMS alert related expenses.” On its part, UBA Plc’s fee & commission expenses grew by 22.05 per cent to N17.81billion in Q1 2022 from N14.59billion reported in Q1 2021, driven by 84 per cent expenses on E-Banking expense that moved from N13.53billion in Q1 2021 to N14.9billion in Q1 2022. Meanwhile, with emergence of Fintech companies’ aggressiveness with customers’ deposit and Continued on page 31

Investors Trade Foreign Exchange Worth N24.93trn in 5 Months on Growing Demand Nume Ekeghe Following growing demand investors have in five months to May 31, 2022, traded Foreign Exchange (FX) worth N24.93 trillion as against N21.36 trillion traded in the same period of 2021 via the Investors & Exporters (I& E) window, indicating an increase of N3.57 trillion or 16.71 per cent. This is according to the FMDQ Exchange Fixed Income and Currencies (FIC) monthly report, made available to newsmen in Lagos. The FMDQ markets comprised

of FX, Treasury Bills, Open Market Operation (OMO), CBN Special Bills, FGN & Other Bonds and money market. The Central Bank of Nigeria (CBN) had in 2017 introduced the I&E window to further deepen the FX market and accommodate all obligations in the country. The CBN had stressed that its purpose was to boost liquidity in the market and ensure timely execution and settlement for eligible transactions. However, in 2021, the apex bank

adopted the I&E as the official rate, stating that it would help boost investor confidence which has been lacking for some time. According to the report, the average turnover trade by investors and exporters in the period under review is N4.99trillion as against N4.72 trillion in the prior year. The turnover of FX trade at its highest and lowest amounts was N7.29trillion and N4.06trillion in April and February 2022, respectively. Comparing the highest and lowest amount of FX turnover

traded in 2021, the FMDQ report had disclosed N5.11 trillion in April 2021 and N5.07trillion in March 2021, respectively. Meanwhile, the increasing total foreign exchange turnover at the FMDQ impacted on the Naira as it depreciated mostly in May 2022. The report disclosed that Naira depreciated against the US Dollar, losing 0.38 per cent or N1 60 to close at an average of US Dollar/N419.15 in May 2022 from US Dollar/N417.55 recorded in April 2022. The report noted that, “Further,

exchange rate volatility increased in May 2022 compared to April 2022 as the Naira traded within an exchange rate range of US Dollar/N417.00421.50 in May 2022 compared to US Dollar/N416.50-419.50 recorded in April 2022.” The report further disclosed that turnover in FMDQ Markets increased by 1.98 per cent or N1.15 trillion to N78.25 trillion in five months of 2022 from N76.74 trillion in five months of 2021. According to the report for May 2022, the turnover in FMDQ markets

for the month ended May 2022 was N15 39 trillion, representing a MoM decrease of 20.42 per cent or N3.95 trillion and YoY increase of 50.29 per cent or N5.15 trillion, respectively The report stated that, OMO, CBN Special Bills and Foreign Exchange (transactions were the highest contributors to the FMDQ markets turnover in May 2022 jointly accounting for 63.03 per cent of the total FMDQ markets turnover. For the spot market, the report Continued on page 28

M A R K E T D ATA A S AT M O N D AY, J U N E 2 8 , 2 0 2 2 BILLS

BONDS DESCRIPTION

Price

Yield

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

109.76

8.00

108.04

10.09

106.57

10.25

120.20

10.72

113.30

10.77

Change Updated Time (%) 24, -0.01 June 2022 24, 0.02 June 2022 24, 0.10 June 2022 24, 0.00 June 2022 24, -0.09 June 2022

Discount

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

300,00 300,00

0.00 June 24, 2022

415,00 417,00

0.00 June 24, 2022

345,00 347,00

0.00 June 24, 2022

465,00 472,00

0.00 June 24, 2022

NTB 10Nov-22

390,00 396,00

0.00 June 24, 2022

Yield

OTC F X F U T U R E S

CPS

MATURITY

Change Updated Time (%)

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

Discount Yield 11.46 11.58 8.03

Change Updated Time (%) 0.00 June 24, 2022

8.10

0.00 June 24, 2022

15.42 16.26

0.01 June 24, 2022

9.71 10.04

0.01 June 24, 2022

8.90

0.01 June 24, 2022

9.18

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

Updated Time

June 24, 2022 June 24, 2022 June 24, 2022 June 24, 2022 June 24, 2022

WEDNESDAY, JUNE 29, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R; Incoming Chairman, Oodua Investment Company, Otunba Bimbo Ashiru; Ogun State Governor, Prince Dapo Abiodun; Ondo State Governor,Mr. Rotimi Akeredolu; Outgoing Chairman, Oodua Investment Company, Segun Aina; Deputy Governor, Ekiti State, Mr. Bisi Egbeyemi; Secretary, Lagos State Government, Mrs Sherifat Folashade Jaji and Group PHOTO: ABIODUN AJALA Managing Director, Oodua Investment Company, Mr. Adewale Raji during the 40th Annual General meeting of the Company in Lagos… yesterday

Isopi: €6bn EU-Nigeria Balance of Trade in Favour of Nigeria Eromosele Abiodun The European Union (EU) Ambassador to Nigeria, Ms. Samuela Isopi, has stated that the balance of trade between Nigeria and the EU reached €6 billion in 2021 in favour of Nigeria. The Ambassador stated this during a press conference to announce its eight edition of the E U business forum scheduled to hold in Lagos. According to her, the European Union as a Bloc is by far the largest trading partner of Nigeria with about €28 billion in 2021. She said the oil and gas sector represents the bulk of the trade adding that Europe accounts for 20 per cent of the overall Nigerian trade with the rest of the world. According to her, “This is an agenda that we are trying to develop further. Discussions are ongoing between the Nigerian government and the European Union on how to develop economic relations.” She noted that the EU is the main investors to Nigeria, adding that plans are ongoing to quantify and measure EU’s contribution to Nigeria’s economic development in terms of job creation. She said one of the tools to reducing migration is to create economic opportunities for the youths, pointing out that a country like Nigeria needs to diversify its economy away from oil to promote backward integration in its quest to boost local production. “Our dialogue with the Nigerian government on migration issues is on course and getting better. We are also expecting a delegation from Brussels to discuss migration. We presented European External Strategy anchored on three pillars, which includes energy efficiency to reduce energy consumption, diversify

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

suppliers and fast-tracking energy transition into renewables. In Africa we are looking at four countries namely Nigeria, Mozambique, Senegal and Angola, “she added. She however tasked the Nigerian government to address its infrastructure and security challenges to boost gas export to Europe. “We think there is a huge opportunity for Nigeria. The current

international situation is creating a huge opportunity for Nigeria, but we need to address the challenges, “she advised. Also speaking, the Team Leader, Green and Digital Economy, Ms. Inga Stefanowicz, said under its new programme and budget of the EU for the year 2021-2027, the EU would be working with the private sector to create employment opportunities,

growth of SMEs. “We are also looking for development of agriculture value chains in horticulture, aquaculture and livestock development under the Team Europe initiatives,” she added. The Trade Counsellor, EU Delegation to Nigeria and ECOWAS, Mr. John Taylor, said the business forum has served as

a strong platform for European and Nigerian businesses to engage with the Nigerian authorities towards improving the business environment, “This year’s event themed, “Nigeria and the New Economy,” will focus on three key sectors, including backward integration policy of the Nigerian government; opportunities to increase gas exports to Europe; and new initiatives in

the agricultural sector. “While these sectors are not new, the potential in them remains largely untapped. During the 8th EU-Nigeria Business Forum, discussions will aim to identify the causes of these hindrances and explore how these opportunities can be unlocked for the mutual benefit of Nigeria and Europe,” he stressed.

Notore Hits Safety Milestone, Records 15m Man-hour without Lost Time Injury Notore Chemical Industries Plc, has announced that it has achieved a new safety milestone, having recorded fifteen million (15 million) man hours without Lost Time Injury (LTI). Group Managing Director/CEO of the company, Ohis Ohiwerei in a statement said the achievement surpasses the previous mark of ten million (10 million) man hours without LTI achieved in March 2020.

According to him, “This milestone reflects the company’s culture of promoting health and safety across its employees, visitors, contractors and other stakeholders.” Ohiwerei acknowledged the unwavering commitment of Notore’s stakeholders who have contributed to the laudable achievement, adding, “The strict safety and health protocols adhered

to by stakeholders aided the company in recording zero cases during Covid-19 pandemic while carrying out its daily operations without disruptions.” Speaking at the company’s 2022 Quality Health Safety and Environment (QHSE) week to mark the monumental achievement, Victor Odiba of National Environmental Standards

and Regulations Enforcement Agency (NESREA) commended Notore’s consistent compliance with regulatory requirements, which contribute to maintaining a safe work environment. Chief Inspector of Factories at the Department of Occupational Safety and Health in the Federal Ministry of Labour and Employment, Simon Ononyaba, said: “Notore has one

of the best operating systems and safety cultures in the country’s industrial sector.” He went on to congratulate the company on achieving another impressive safety milestone. Notore continues to embrace the highest standards of health and safety for all employees, embedding the safety-first culture in the company’s DNA.

AMCON: Josepdam Not Indebted to Us The Asset Management Corporation of Nigeria (AMCON) has declared Josepdam & Sons Limited and Josepdam Sugar Company Limited are free of any debt obligation to the Corporation. AMCON in a letter, referenced; AMC/ABJ/ERM/21/473/ MPE/39831, jointly signed by the Head, Enterprise Risk Management, AMCON, Suleiman Abdul Majeed, and the Group Head, Enforcement, AMCON, Joshua Ikioda, revealed

that the concerned obligors had defrayed the total outstanding balance put at N18.783 billion. According to AMCON, the letter, titled, “Letter of Non-Indebtedness-Josepdam & Sons Limited and Josepdam Sugar Company Limited,” serves to “confirm that Josepdam & Sons Limited and Josepdam Sugar Company Limited, whose loans were sold to AMCON as detailed below has fully liquidated its indebtedness

to the Corporation.” A breakdown of the liquidated loans showed that AMCON purchased a total of N13.479 billion from Wema Bank in respect of Josepdam & Sons Limited; another N4.479 billion from Keystone Bank on behalf of Josepdam & Sons Limited as well as N466.445 million from Keystone Bank in respect of Josepdam Sugar Company Limited. A section of the media (not THISDAY) had recently erroneously

listed Josepdam alongside other obligors that are yet to liquidate their indebtedness to the corporation. The said publication also alleged that Mrs. Josephine Kuteyi and Mr. Saheed Kuteyi were both deceased. However, the Head of Administration of Josepdam claimed that Mr. Saheed Kuteyi was in fact the current Chairman of Josepdam Group and was alive.

She advised authors of the report to learn to verify information before rushing to the press. On whether her company will sue the media house involved for damages, she said the company was not going to waste her time chasing media houses, which are grossly unprofessional and at best only exist in social media space as sane Nigerians do not ascribe any credence to such publications.

APM Terminals Backs FG on Apapa Port Rail Linkage APM Terminals Apapa has expressed support for the federal government’s drive to connect the Apapa Port to the Lagos-Ibadan standard gauge rail line. The Country Managing Director of APM Terminals Nigeria, Mr. Klaus Laursen, said this when the Minister of State for Transportation, Senator Gbemisola Saraki, visited the terminal. He said linking the port to the rail line will facilitate cargo delivery.

Laursen advocated multimodal transportation system to evacuate cargo from the port to avoid port congestion. He said APM Terminals Apapa first restored the rail in the port in 2013 leading to the movement of containers from Apapa port to Kano and Kaduna three times a week. He said connecting the port to the new Lagos-Ibadan standard gauge rail line will offer cost

advantage to consignees and reduce pressure on the road. Speaking with journalists on the sideline of the visit, Laursen said in addition to supporting the use of railway to evacuate cargo, APM Terminals Apapa has encouraged the use of barges to move boxes from the terminal. He also said that APM Terminals Apapa has been transformed into a world-class facility, which the country can be proud of.

“Over the past few years APM Terminals Apapa has been on a remarkable transformation journey. We have led with a strong ambition to become a world-class terminal operator. We enable access to jobs, products, foods, and medicine. “For us, it is not just about moving containers around; we are a heartbeat for the society and we create value for our customers,” he said. On her part, the Minister

of State for Transportation, Senator Gbemisola Saraki, said arrangements have been made to remove the Customs building housing a radioactive scanner that had been obstructing the extension of the rail track to the port quay. “By the end of this month, we want to ensure that the removal of this Customs facility which is on the rail track is resolved. The goal is to have this track operational by the end of this month,” the

INVESTORS TRADE FOREIGN EXCHANGE WORTH N24.93TRN IN 5 MONTHS ON GROWING DEMAND disclosed that a total market turnover for all products traded in the spot market was 13.48 trillion in May 2022 representing a MoM decrease of 15.01 per cent or N2.38 trillion from the turnover recorded in April 2022 The FIC report for May said, “The M-o-M decrease in total spot market turnover was driven by the 27.66 or N1.05 trillion and 30.39per cent or N1.55 trillion decrease in FX market and money market turnover, respectively, which offset the 3.17 per cent or N0.22 trillion increase in fixed income market turnover in May 2022 “The M-o-M increase in FI

market turnover was driven by the M-o-M increase in CBN Special Bills and T bills turnover by 134.97 or N1.65 trillion and 1.70 or N0.02 trillion, respectively. “Although, the turnover for OMO bills, FGN Bonds and Other Bonds decreased M-o-M by 37.34 per cent or N1.29 trillion, 12.74per cent or N0.15 trillion and 36.75 per cent or N0.01 trillion), respectively.” Analysts have expressed that increasing business activities has played a critical role in the FX demand, stressing on the CBN sustained interventions that have reduced investors and foreign pressure.

Analyst at PAC Holdings, Mr. Wole Adeyeye attributed the growth recorded in the total foreign exchange turnover in the first two months to increasing business activities. He said that the slow growth in business activities in the first five months of 2021 affected foreign exchange turnover traded, attributing it to uncertainty in the global economy. He said: “The restrictions had affected investors and exporters’ demand for FX in the first five months of 2022. The war between Russia/Ukraine affected capital inflow into the country and led to

volatility in the foreign exchange market. “However, with the ease of movement in 2022, investors and exporters surge for FX from the FMDQ market increased and it reflected in the amounts.” Analysts at Guaranty Trust Holding Company in a report titled, “Nigeria macro-economic: outlook for 2022,” explained that, “In the light of the gradual improvement in vaccination rates, a better understanding and management of the pandemic, strong oil prices and positive GDP growth albeit on the back of a lower base, the business environment made an

impressive recovery from the weak pandemic-induced performance of 2020.” The Chief operating officer of InvestData Consulting Limited, Mr. Ambrose Omordion, also attributed the growth to increasing demand for FX, maintaining that global economy was expected to have expanded in 2022 but might be slowed down due to the crisis between Ukraine and Russia. According Omordion, “The Nigeria economy has witnessed more business activities in the first five months of 2022 and demand for FX has increased significantly.”

WEDNESDAY, JUNE 29, 2022 ˾ T H I S D AY

BUSINESSWORLD

PERSPECTIVE

Understanding CBN Perspectives on RT200 Barnabas Eke

ith the current unstable accruals in the Foreign Exchange (FX) Reserves; dwindling from $39,650 billion in April to $38,540 billion in May 2022, and compounded by the volatile exchange rate of the Naira, the newly introduced monetary policy intervention by the Central Bank of Nigeria (CBN) referred to as ‘Road To $200 billion’ (RT200), promises to be the masterstroke strategy to shore up the nation’s exchange rate and boost the FX Reserves. No doubt, this is one of the manifest efforts, in the recent past, by the CBN to tangibly promote diversification of the economy given that crude oil sale dominates sources of FX inflow to the economy. The policy, therefore, gives impetus to investors in the non-oil sector whose products are meant to be exported. Apart from the value addition of these products, they must also comply with international standards before the exporter would be qualified to earn the maximum benefits equal to the earnings of competing exporters of rival products from other countries. According to the CBN policy guidelines for RT200 released in February 2022, it is a non-oil exports proceeds repatriation rebate scheme that is part of the apex bank’s effort to reduce exposure to volatile sources of FX and to earn more stable and sustainable inflows of FX into the country. The shift in strategy, at this point, is vital given the fact that the volatility of sources of FX impacts the exchange rate of the Naira, the accruals to FX reserves as well as the inflationary trends in the country. The policy “aims to raise $200 billion in Foreign Exchange (FX) earnings from Non-Oil Proceeds over the next 3-5years” according to CBN documents. A major anchor of the program is the Non-OIl Export proceeds repatriation Rebate Scheme. The rebate scheme is designed to incentivize exporters in the Non-Oll export sector to encourage repatriation and sale of export proceeds into the FX Market. The policy is borne out of the need to mainstream

CBN Governor, Godwin Emeﬁele export-bound non-oil sector products as a means of earning more stable and sustainable FX inflows to insulate the Nigerian economy from shocks and FX shortages. The desired outcome would be to enhance Foreign Exchange inflow, diversify the sources of FX inflow, increase the level of contribution of non-oil exports to economic growth and Gross Domestic Product, ensure stability and sustainability of FX inflows, and support export-oriented companies to expand their export operations and capabilities. In order to ensure value addition under the non-oil exports, the approved products, goods, and services must be finished and semi-finished goods wholly or partly processed or manufactured in Nigeria, permissible and excluded under the existing export prohibition list. The incentives available to qualified companies in the scheme are derived from quarterly payment by the CBN of N65 for every US$1 repatriated and sold at the Investors’ and Exporters’ ( I & E) Window to Authorized Dealer Bank (ADB) for other third-party use, and N35 for every US$1 repatriated and sold

into (I & E) window for the Exporter’s use on eligible transactions only. Of course, the incentive payments for every dollar repatriated and sold at the designated banks encourage repatriation of profits and discourage capital flights just as it ensures adequate account of repatriated FX to fund economic growth rather than being frittered away in the open FX black market. However, this is not an all-comers’ participation affair. Consequently, there are certain operational safety nets embedded in the scheme to ensure that it is not abused or derailed. It is also designed to boost the revenue base of dedicated exporters of non-oil products, goods, and services through payments of rebates for each repatriated dollar. One of the safety nets of the scheme is that although it is categorically stated that “the CBN (Trade & Exchange Department) shall be responsible for the day-to-day administration of the Scheme”, the ADBs are reposed with further gatekeeping functions. For instance, all applications/requests for participation are routed through the ADBs which scrutinize them to ascertain compliance with CBN specifications, the veracity of documents submitted, determination of eligibility of products and exporters (applicants), as well as the verification and confirmation of participating exporter (s) due for payment of rebate by the CBN. The exporters must also receive credits on agreed amounts through their accounts domiciled with the ADBs. The complementing but overlap of functions between the Apex Bank and the ADBs adds credibility to the overall process. The apex bank is responsible for the policy measures and issuing of updates from time to time while also taking into consideration the recommendations of the ADBs in the process of effecting payment of rebates to beneficiaries. The CBN can also impose sanctions on any ADBs found guilty of any infractions or attempts to circumvent the intent of the Scheme. Sanctions may include suspension from the FOREX dealership license for a period of

24 months. The apex bank can also sanction any Exporter who presents fraudulent document(s) in an attempt to undermine the scheme with a ban from accessing the incentive for upwards of 24 months. The banks are expected to play pivotal roles in assuring that the policy objectives of RT200 are realized on or before the cut-off time of the scheme in 2026. To this effect, the CBN has reposed on the ADBs the responsibilities of interfacing with the apex bank and Exporters. Under this role, the ADBs oversee that application procedures and eligibility criteria conform with the standards and meet qualifications specified by the apex bank. In other words, ADBs must not only ensure that potential exporters provide verifiable documented proof of their eligibility and that of their products but are also ascertainable and authenticated by the banks for recommendation to CBN. In addition, banks process requests, render periodic reports on disbursements of rebates and make regular recommendations on the operational guidelines to the CBN. Barely two months after its introduction, statistics released in April 2022 by the Bankers Committee indicate that 150 exporters have repatriated $60 million in export proceeds which qualified them for the quarterly payments of N3.5 billion FX rebate and the rebates have been ordered to be released to them by the CBN Governor, Godwin Emefiele. This was confirmed by the Managing Director/Chief Executive, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe in her briefs after the Bankers Committee meeting on the performance of the RT200 program in the 1st quarter of 2022. The outlook is eliciting positive interest across the industry. To future-proof the scheme, the Director-General of Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona, advises the CBN to take cognisance that critical export infrastructure, international trade diplomacy, and adequate funding are prerequisites for sustaining and optimising the scheme. It is hoped that similar suggestions will be accommodated by the CBN, and hopefully, constitute parts of the considerations to look out for in the CBN’s future updates on the guidelines. t #BSOBCBT &LF JT B mOBODJBM FYQFSU BOE public affairs commentator based in Lagos.

Ayida: Why Berger Paints Adopted Four-day Work Week A leading manufacturer of coated paints and allied products, Berger Paints Nigeria Plc has blazed the trail as the first company in Nigeria to adopt a four- day work week. In this interview, the company’s Chairman, Abi Ayida, explains how the innovative work plan will enhance productivity of the Staff and boost shareholder value ity caused by the lost hours. Perhaps, I could illustrate, say we have a prospective client in Ajah, a visit in person from our office in Ikeja could well turn out to be a 5hour adventure on a bad traffic day of which the actual visit may be under an hour. In that time -frame the sales person is mostly unproductive for 80% of that time window. Unfortunately, this scenario affects all our people even those who are just commuting daily. Productivity is adversely impacted and from the employees’ perspective this has an unrelenting cumulative negative effect. From the company’s perspective you do not have to be a rocket scientist to know the situation is very bad for business.

How has Berger Paints be coping with the inclement operating environment since the outbreak of Covid-19 pandemic and its variants ? hank you for the question. Without a doubt you appear to have chosen a rather benign adjective to describe the current operating environment. The ongoing Pandemic does seem, in hindsight, to be a mere precursor to absolutely dire global macroeconomic headwinds. We have always operated in a challenging environment but the current situation is unprecedented in the unrelenting nature of the disruptions. There are simply no positive signals currently and we have the cherry on top of the peculiar country risk associated with a Nigeria on the cusp of elections and all that entails. As an organization we are coping and I use that word only if the ability to pivot in decision-making virtually instantaneouslywithout the comfort of any predictability is considered coping.As an organization we are focused on thriving despite the environment and that can only be achieved through meticulous preparation, a very dynamic and infinitely flexible approach to strategy design and implementation and most importantly a healthy dose of luck.

The Pandemic and resulting lockdowns led to a fundament change in attitudes to ﬂexible working practices. How has this affected the employees of BPN? One of the first significant decisions I made when I became Chairman was to lead a transition to more flexible working practices. In 2018, we made the decision to invest in fully interactive Board and Management meeting rooms with full virtualcapabilities. By the time the Pandemic came along 15 months later we had already fully embraced hybrid or virtual meetings with our external stakeholders who had that capability. This is probably not the immediate image that comes to mind when you think of a traditional paint manufacturer in Nigeria and till this day our clients who come in for physical meetings are still surprised by meeting with us in a room that would not look out of place in a well-resourced Tech Startup. We cascaded this flexible work approach to our people and recognized that full adoption would take time

Ayida but it does appear that the pandemic helped to catalyze this process in a good way as wider acceptance became the norm with our external partners and stakeholders. Prior to the new era of work-from-home, traffic congestion has always taken significant part of workers’ official hours in Lagos. To what extent has this affected the employees’ output? Our transition to more flexible working practices was initially primarily driven by the mobility challenges that are the outcome of perennial traffic congestion. We continue to have a firm understanding that this was a significant but not easily quantifiable, real cost to our business. What is often underestimated is just how much extra investment in people, assets and materiel is required to compensate for diminished productiv-

Given that there is no solution in sight to this, how do you see ﬂexible working practices as a way to partially solve this? Our environment is very detrimental to work-life balance. We fully understand that at the leadership level and I must say I am very fortunate to have colleagues on the Board that are very forward-looking and provide the cognitive diversity that is required for better outcomes in these extraordinary times. We have thought long and hard on how we can better take care of our people in an impactful and lasting way. I am therefore pleased to announce that we will from next month be the first Nigerian company, that I am aware of, to permanently change to a four day work week. As a manufacturing company, a significant segment of our staff by the nature of their jobs are involved in repetitive tasks as part of the manufacturing process. In order to maintain our consistently high quality levels, very high levels of concentration over extended periods are required. As you well know, the unrelenting and deteriorating nature of our harsh operating environment has a cumulative corroding effect on an employee’s physical and mental well-being. We believe this initiative will go a long way in redressing this imbalance and is not only beneficial to the employee but will also benefit the company. For far too many employees their

place of work represents the only setting where they are assured of basic services like power, water and security. Human capital is our most precious resource as a companyand we intend to nurture and protect our people in any way we can. Will the proposed new work- hours lead to staff rationalization? Absolutely not. The intended outcome of this change is enhanced productivity from better rested people. Rest and recovery is a key metric of sustained performance. Get that balance wrong and you are locked in a spiral of diminishing returns. I would also like to point out that all our employees will remain on their full remuneration. There will be no loss of pay for a single employee. What are the advantages of this work model ? There are a lot of advantages and I have a given a couple of examples but I am mindful that we operate in a very competitive space and would rather be circumspect about giving too much away. What I would add is that our customers and other external stakeholders would not be impacted in any way as we will be providing a full week of services in certain core functions related to customer fulfillment. Hope the workers have keyed into this novel idea? Fundamental change is very challenging as we are dealing with an existing framework that has been in place from the earliest days of formal employment. We instituted a robust change management program and recognized that for culture change, time is the key metric. We are blessed with an ideal blend of very experienced and new dynamic entrants in our workforce and we have significantly invested in transparent communication of our objectives and how the outcomes are beneficial. We are confident that we have enrolled enough advocates and change agents in the process. Ultimately the reality will set in when the additional day of rest crystallizes for our people and they start to feel the impact. When is the commencement date? We start from July.

T H I S D AY ˾ WEDNESDAY, JUNE 29, 2022

BUSINESSWORLD

INTERVIEW

Ejibunu: Legal Metrology Will Enhance Nigeria’s Trade, Economic Competitiveness Legal metrology which is a regulation guiding measurements for accuracy and fairness in trade transactions had been in the country for decades but had not been enforced across the board. In this exclusive chat with James Emejo, Director, Weights and Measures Department, Federal Ministry of Industry, Trade and Investment, Mr. Hassan Ejibunu, among other things, shares his plan to reposition and strengthen its practice in order to enhance the nation’s economic potential and competitiveness and ensure value for money for consumers and manufactures alike What is it about the practice of legal metrology? hank you for this important question. Legal metrology has to do with the science of measurement; it is about accuracy and fairness in trade, in all-measuring equipment that is used for trade. Recently, we celebrated World Metrology Day and the issue of measurement came about since 1875 by 17 nations of the world. And now because of its importance, all the countries of the world have keyed into the issue of measurement. Biblically and in the Quran, the Lord God enjoins us to ensure that whatever we sell to people is accurate so that we will not cheat them. So, this is the word of God that whatever you are selling to people make sure you don’t cheat them because if you cheat them, the blessings of God that should go into it would not be there – And who is that human being who wants to refuse the blessings of God? We used to say that if you are a trader and you sell your goods to people, even if it is one Kobo that is your profit and the blessings of God are there; it is more than one million naira. So, legal metrology has been in existence during the colonial administration in Nigeria. Hitherto, the police used to practice this measurement to make sure that whatever you sell to the members of the public is accurate; then it was excised and put as a division in the ministry of commerce and later it was made a department and it has rules and regulations guiding it as it is under Item 65 of the 1999 Legislative List of the Federal Republic of Nigeria. The law has been there since 1962 but what baffles me is that Nigerians have not taken note of what this department can do for them in terms of ensuring that they are not shortchanged as a customer and as a consumer of goods and also that even the sellers of the products too are not shortchanged because it is a two-way thing – you as the marketer of the products, maybe you are buying in large quantity; where you are buying it from should not shortchange you and you that are

Ejibunu servicing the end-user should not also shortchange the customer. So, legal metrology is about the accuracy, and fairness in trade. Only until recently when you assumed ofﬁce, the practice of legal metrology was barely known

in the country, why was this so? Thank you. You see, there are three aspects of legal metrology; we have scientific metrology, we have industrial metrology and we have legal metrology. Industrial metrology is under the purview of the Standards organization of Nigeria (SON) while the scientific metrology has to do with the tertiary institutions- those that make research concerning metrology while legal metrology, which is the science of measurement, is domiciled in the Weights and Measures Department, Federal Ministry of Industry, Trade and Investment. As I have told you, you can see that SON has been on doing its own bit – SON was actually excised from the ministry and became an agency of government and you see that since its creation, it has been on trying to ensure that things that are brought into Nigeria are standardized, making sure that whatever you are bringing into the country are not sub-standard and they’ve been working in that direction and you have been hearing their name. But, the legal metrology which has to do with trade and covers all sectors of the Nigerian economy be it telecommunications, transportation, safety, environment and trade among others, is never known to people. Like I told you, legal metrology was being undertaken by the Nigeria Police before that power was transferred to the ministry of commerce and it was a division before eventually becoming a department. Well, I will say that all the past ministers of trade had been trying their best but I will give kudos to this present administration under the leadership of the Minister of Industry, Trade and Investment, His Excellency, Otunba Adeniyi Adebayo, who is ably supported by the Honourable Minister of State for Industry, Trade and Investment, Her Excellency, Ambassador Mariam Katagum and the Permanent Secretary, Dr. Evelyn Ngige. The department has been very lucky to have these three persons superintending over the affairs of the ministry. The way they see things differ, and coupled with the presidential directive that they must ensure that anything that will enhance the work of Mr. President in the trade and investment sector – they’re given the mandate of Mr. President to go headlong in ensuring that. And you can agree that industry is very key in any society and trade and investment are very key too and you cannot be an island to yourself; whatever we produce in Nigeria, we must make sure that we export them and through that, we will get the desired revenues. And if your goods and services are not in line with international best practices, nobody will look at your goods. And that is why the three principals of the ministry have been trying their best to ensure that they give the necessary support to the weights and measures department so that the Nigerian society as a whole will know much better about the department. I came on board in August last year; I was posted here by the Office of the Civil Service of the Federation by Dr. Folashade Esan, Head of the Civil Service of the Federation, to come and head this department. Coming on board, I have my own vision for the department and one of the things I did was to call for e general meeting of the department, comprising the zonal coordinator and state offices because in the department we have seven zonal offices and 36 state offices including the FCT. So we brainstormed and some of the issues that were raised were about publicizing the activities of the department and after the meeting, I had to write a report and made certain recommendations to the management of the ministry and my recommendations were upheld and one of the things was that we should go ahead and embark on adequate publicity about the activities of the department; we should engage with the relevant stakeholders that we deem fit and moreover, hold a national conference to bring people together to know about the activities of weights and measure. Bringing out the activities of weights and measure is to enable people to know about their rights- that whatever you are doing – buying goods in the market or buying your LPG, you are going to the filling station to fuel your vehicle; making sure that your 25-liter is indeed 25 liter – not that someone will sell you 25 liter and at the end of the day you will see it’s 20-liter. That is what weights and measures frown about; weight and measures is about accuracy and fairness. Even sweets that you lick have components of legal metrology. If you buy Tom-Tom and you see that the Tom-Tom is broken or not up to the size that it is supposed to be, you are at liberty to report to weights and measure and we can take it up with the manufacturer of Tom-Tom because by that you are deceiving members of the public. You can see that legal metrology covers all aspects. If you are buying cement and they say 50KG and you see 40KG or 45KG – if it is less than 50KG, you are at liberty to make a report for a remedy because the manufacturer has gone ahead to shortchange you. Even the bottled water that you are buying, it’s not

up to the 35CL that you are buying, you are at liberty to make representation at the department will take it up with the manufacturers of those things. How could legal metrology determine Nigeria’s Trade competitiveness on the global stage? You see, Nigeria is now a member of the African Continental Free Trade Area Agreement (AfCFTA) and one of the things is that you have to open your borders to all goods and services from other African states. We are in a world of competition and if Nigerian industries are to get it right, they have to follow after policy and that is why some of our industries are coming here for concessional approval because in the whole of Africa right now if you are doing prepared goods, there is a certain permissible error that is allowed. For example, if you are producing detergent right now and your milligram is not up to the approved standard, it will be rejected. And if your own is over and you allow other African nations to bring the one that is lesser than you own; your own industry will be at a loss and that is why since Nigeria has keyed into this African trade agreement, all these industries involved in the production of prepared goods are coming to the department for concessional approval because they have to compete with other sister companies in Africa and we will not allow Nigeria to be a dumping ground and we will not allow our companies to run at a loss. Whenever we receive such approval, we evaluate and recommend our recommendation to the honourable minister; the minister will now give the final approval based on our recommendation. What could Nigeria lose by not conforming to best practices in weights and measurements? When we say these goods are made from Nigeria and do not comply with international best practices, nobody would look at your goods. Just like a familiar narrative that Nigerian yams are cultivated and harvested here in Nigeria when the same yams are transported out of the country to Europe, they will be rejected. But the same Nigerian yam, take it to Ghana and repackage it well, the same Nigerian yam would be accepted over there in Europe. This is why the government is working assiduously through a sister department in the ministry known as the Commodity and Export Department (CED) to ensure that all these problems about the rejection of Nigerian exports of goods and services become a thing of the past. And the department has been working assiduously to ensure that; you can see that we have received fewer complaints about Nigerian goods being rejected overseas because we have to comply with general best practices and if you don’t comply, nobody will look at your goods. See, even footwear that you wear; do you know some of the shoes are produced in Aba here but immediately you put made in Aba, nobody will buy them. But they will transport the same Nigerian shoes to Dubai and still export the same back and they will put made in Italy, made in Spain yet they are footwear made in Nigeria. So, the issue is the packaging. If we are able to package our goods very well and with the kind of incentive the government is trying to give to small-scale industries, I am sure that if we do the right thing, Nigeria will get it right and we will be able to surmount this issue of rejection of Nigerian goods. So far, what has your department done in terms of enforcing compliance in the area of legal metrology to ensure that sellers and services providers no longer take advantage of Nigerians? Yes, when I came on board, we took some newsmen around Abuja where the Liquified Petroleum Gas (LPG) retail outlets, and it was found that some of them were under-dispensing. And when we saw that, what we did was to seal the pumps that were under-dispensing and make sure the owners of the station were penalized. We sealed the station and made them pay certain charges. They had to rectify the offending pump and they had to rectify the scale they used because before you even go to refill your cylinder, it is statutory for them to first test your empty cylinder and after the cylinder has been filled, it is statutory for you to determine whether they sold for you at 12.5KG and for it to be tested. This is because they tamper with some of the scales and so we make sure that they rectify the scales and the pumps that dispense and then pay to the government for under-dispensing to members of the public. And when we did that, some of them rushed to the department because we were putting them out of business, and we made them pay fines to the Treasury Single Account (TSA) before we unseal the taps and my officers in all the states of the federation embark on surveillance which is a routine practice and those found wanting are meant to be corrected and are equally fined for tampering with the scales and pumps. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY, JUNE 29, 2022

BUSINESSWORLD

SPECIAL RELEASE

Sokin Expands Payments Partnership with Mastercard Across the Region Emma Okonji ‘Sokin has teamed up with Mastercard to connect consumers in 39 new markets to payments services that are more open and transparent, removing the barriers that have historically hindered access and financial inclusion. The partnership has been expanded to help consumers make transactions on their own terms.’ Sokin, the new generation fintech payment firm, has signed a comprehensive partnership agreement with Mastercard to support the rollout of its fixed-price payment services across new markets in the Middle East and Africa.

Sokin will leverage Mastercard’s trusted and secure digital-first banking solutions and card services to expand its footprint and launch its next-generation card programs for businesses and consumers. The Sokin Card will be available in 39 countries in the Middle East and Africa, including Gulf Cooperation Council (GCC) countries, Nigeria and South Africa. The multi-year agreement will see Mastercard collaborating with Sokin to offer costeffective solutions to the more than 35 million migrant workers in the Middle East and Africa, while

also supporting those who regularly transfer and receive money to loved ones around the world. Sokin also looks to transform the Middle Eastern and African financial services landscape on a local scale by giving the region’s 578 million population an alternative to traditional banking services. “The obstacles to accessing opportunities in the global payments ecosystem have resulted in the exclusion of millions of people that are unable to easily, and instantly, make essential payments and transfers. We’ve launched this progressive partnership with Mastercard

to boost financial inclusion, helping our customers to access a wider range of financial service products across different markets, and we’re excited to provide digital payment solutions to people in the Middle East and Africa,” said Kaushik Sthankiya, Chief Commercial Officer, Sokin. From 2022, Sokin will offer consumers in 39 new countries unlimited international money transfers and payments with no mark-up on transactions or hidden fees. Its proprietary technology makes the process easy, hosted in a secure, universal peer-to-peer mobile app. Customers can access a large portfolio of

currencies via an app interface which remains the same - no matter the user’s location – and is accessible in five languages: English, French, Portuguese, Spanish and German. A universal tool, Sokin’s payments solution has been designed to encourage and help people around the world – no matter location, circumstance, or economic status - to fulfil their financial potential. “As the partner of choice for fintechs around the globe, we are proud to support Sokin’s expansion to the diverse markets in the Middle East and Africa, connecting its people to global payment solutions in a digitalfirst, transparent and

safe way. Mastercard is passionate about driving innovation through partnerships. By combining Mastercard’s trusted and secure solutions with Sokin’s innovative services, consumers will be able to benefit from wider choice and greater convenience,” said Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East and Africa, Mastercard. The collaboration is an extension of existing agreements previously announced in the UK, Europe, South Asia, Singapore, Latin America, Mexico and Brazil, to help consumers make transactions on their own terms.

CPPE Seeks Legislations to Compel Large Companies ‘Economic Prosperity Dependent on Security, Good Leadership’ to Sub Contract Some Operations to SMEs Ugo Aliogo The Chief Executive Officer, Centre For The Promotion of Private Enterprise [CPPE], Dr. Muda Yusuf, said there should be policies and legislation compelling large enterprises and foreign companies alike to sub contract aspects of their operations and activities to the indigenous Small and Medium enterprises (SMEs). Yusuf, who stated this weekend in Abeokuta, the Ogun State Capital during the Annual Workshop OF Labour Writers Association of Nigeria (LAWAN), said the move was necessary to foster linkages and to build inclusiveness in the country’s industrialization process. He also noted that the systemic

issues of infrastructure should be addressed as a matter of utmost priority, adding that immediate focus should be on electricity supply and logistics. He said unless the economy has these two critical infrastructures in place, it would be very difficult to ensure a competitive SME growth, especially in the real sector. Yusuf urged the Central Bank of Nigeria (CBN) to fix the foreign exchange liquidity and currency depreciation issues, stating that it is a serious challenge impeding growth of SMEs across sectors especially manufacturing, trade, agricultural value chain, ICT and other service sectors. CPPE boss further explained that structural issues on infrastructure

should be addressed to improve productivity and competitiveness of manufacturing firms, noting that there is need to address concerns about unfair competition from imported finished goods. He advised government to address regulatory and institutional problems, challenges of access to credit, cost of credit and tenure of funds which are affecting SMEs. According to him, “We should focus on labour-intensive industries to enhance job creation and promote economic inclusion. Government should ensure that there is adequate investment in core industries such as Iron and steel and petrochemical. We should take full advantage of the large Nigerian market to scale up our industrial capacity utilization.

Nume Ekeghe The MD/CEO of Heritage Bank Plc, Ifie Sekibo has said that the most effective way to boost economic prosperity and peace in the country is to start addressing leadership challenges and insecurity. Sekibo stated this during the second Edition 2022 Forum, a one-day International Colloquium organized by The Men’s League of Christ Church Port Harcourt recently tagged, “What do Nigerians Want?” extensively brainstormed on the kind of leadership the country needs and how to rescue the country from its current debacle. Sekibo said: “The economy

of Nigeria needs to break forth is important to achieving the transformation the country needs, there was urgent need to address insecurity, which according to him, is the foundation of prosperity, as no nation can achieve much where the is no peace. Sekibo, represented by the Divisional Head, Strategy & Business Solutions, Segun Akanji emphasised that for security purposes, there must be an established functional and value-adding identity system in place. He added: “On a higher note, I think one of the things that we need to achieve as a country is the issue of functional and value adding identity management,

which is still far away from us, although, some people know that we have BVN, NIMC and a few other identity capture systems but they have not been as functional and value-adding, like the social security number that most people in advanced economies carry,” he stated. Sekibo further explained that to achieve a prosperous economy, Nigeria needs to find ways and means through policies to build dual circulation economy, which thrives on three pillars. According to him, we need to focus on building dual circulation economy where we can expand domestic production and demand by making sure that the masses are employed.

ELECTRONIC TRANSACTIONS: FBNH, ACCESS HOLDINGS, OTHERS’ FEES, COMMISSION HIT N81.8 BILLION withdrawal, the 10 banks in the period under review generated N399.06 billion fee & commission from customers, representing an increase of 24 per cent from N321.6 billion reported in the prior period. Key contributing factors to banks fee and commission are credit related fees and commissions, Account maintenance charge and handling commission, electronic banking income, commission on foreign exchange deals, among others. The reported growth in fee and commission income impacted on these banks Non-Interest Income (NII). Extract from Q1 2022 unaudited result and accounts revealed that FBN Holdings generated N140.57billion fees & commission income from customers in Q1 2022, an increase of 24.16 per cent from N113.2billion reported in Q1 2021, followed by Access Holdings that generated N56.3billion as fee, commission from customers in Q1 2022, an increase of 45 per cent from N38.95billion

in Q1 2021. FBN Holdings in a presentation to analysts/investors explained that E-banking revenue grew by 15.8per cent to N56.4 billion from N48.7 billion reported in full year ended December 31, 2021, driven by higher transactional volume in a highly competitive environment “Account maintenance stemming from our global and large customer base continue to increase Annuity income from Asset Management, Trustee and Custodian grew 17.7per cent to N13.9 billion (Dec 2020: N11.8 billion billion) further supporting our revenue diversification drive “Focus remains on sustaining non-interest revenue drive through innovations, synergies and collaboration across our businesses, ”FBN Holdings said in a presentation. Fees from channels and other electronic- business income contributed 35.7per cent to Access Holdings fee & commission to N20.13billion in Q1 2022 from 46 per cent to N17.92 billion reported

in Q1 2021. Access Holdings in 2021 financial year generated N159.2 billion fees and commissions from customers’ transactions, representing an increase of 36 per cent compared to N116.7 billion in 2021. Speaking with investors/analysts, the Group Executive Officer, Access Holdings, Mr. Herbert Wigwe had said the growth was largely underlined by income from increased transaction velocity across all channels and other e-businesses as well as credit related fees and commissions which grew by 33per cent. According to him, “We will continue to gain traction on our income from these lines as we extend our retail and loan offerings.” ETI’s fee and commission from customers grew by 21.6 per cent to N55.48billion in Q1 2022 from N45.62billion in Q1 2021. The Pan-African bank in a statement explained that : “Noninterest Income was $198 million

(N82.23billion) for the first quarter of 2022, increasing by 15per cent or $25 million (N69.29billion), by 25per cent on a constant currency basis, boosted by the continued robustness in client and customer activity following the lifting of most of the Covid-19 pandemic-induced restrictions. “As a result, net fees and commission income increased by 16per cent or $16 million to $116 million, with fees generated on Cards rising by 30per cent to $24 million, credit-related fees increased by 17per cent to $37 million, and cash management fees rose by nine per cent to $54 million. “Additionally, NIR benefited from net trading income, which increased by 12per cent or $8 million to $72 million, predominantly driven by a 216per cent increase in fixed-income trading to $34 million, partially offset by a decrease in client-related foreign-currency sales of 29per cent to $38 million. “As a result, the contribution

of non-interest revenue to total net revenue (the NIR ratio) was 45per cent versus 42per cent in the year-ago period.” As UBA grew fee and commission income from customers to N42.1billion in Q1 2022 from N34.96billion in Q1 2021, Zenith Bank reported N33.49billion fee and commission from customers in Q1 2022 from N28.69billion in Q1 2021. According to Zenith bank: “Going forward into the rest of the year, the Group will continue to focus on sustainable growth across all its business segments, deploy technology platforms and digital assets intuitively to serve the needs of its various customers in order to deliver enhanced returns to its stakeholders.” Stanbic IBTC Holdings emerged stronger in the period under review reported N23.13billion fee & commission income from customers in Q1 2022 from N22.17billion reported in Q1 2021. Fidelity Bank reported 32 per cent

fee and commission income from customers increase in Q1 2022 to N7.9billion from N6.01billion in Q1 2021, while Sterling Bank reported N5.13billion fee and commission income from customers in Q1 2022 from N3.65billion in Q1 2021. The MD/CEO of Fidelity Bank, Mrs. Nneka Onyeali-Ikpe had explained that, “Digital Banking has continued to gain traction YoY driven by our nimble retail strategy. 56 per cent of our customers are enrolled on the mobile/internet banking products and over 90per cent of customer-induced transactions were done on digital platforms with digital banking business contributing 33.2per cent to non-interest revenue.” In addition, FCMB group reported 34 per cent increase fee and commission income from customers transactions to N10.23billion in Q1 2022 from N7.66billion in Q1 2021, while Wema Bank reported N4.05billion fee and commission in Q1 2022 from N2.56billion in Q1 2021.

WEDNESDAY JUNE 29, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY JUNE 29, 2022

EDUCATION GEP3: Changing Education Narratives in Ingawa Girls’ Education Project (GEP3), backed up by the United Nations Children’s Fund, has renewed interest in formal education in the North-west state of Katsina. Kuni Tyessi writes

ngawa is about an hour’s journey from the heart of Katsina. A sleepy and peaceful local government area, despite the presence of bandits in some LGAs, has indigenes, particularly children of school age, that exhibit nothing but the hope of a bright future which must not be thwarted or sacrificed on the altar of politics. Although all of them in public schools were sitting on worn-out mats on the floor, they greeted in English when THISDAY came visiting. The United Nations Children’s Fund (UNICEF), through its Girls’ Education Project (GEP3), which is in its third phase of encouraging girl child education through the provision of basic needs, has provided instructional materials such as books, pencils, and chalks, and has embarked on the training and retraining of the teachers. In some cases, it has provided toilets, water through the drilling of boreholes and other key sanitation components. At a media dialogue on Girls’ Education supported by UNICEF and UKAID, education manager, UNICEF field office, Kano Michael Banda, emphasised that the programme, which had been on and taking different phases, had begun since 2012 and is creating opportunities for girls to stay in the system and transit to secondary school. “Very few girls were transitioning in the education system. A larger proportion of girls dropped out when going into JSS 1 despite the GEP2 and three,” said Banda. With this gesture and goodwill, the number of school enrolment for girls increased from 690 to 878, as revealed by the head teacher and documented evidence in the school’s register of the 1925 established Dambo Tukur Model Primary School, Aliyu Muhammadu. To support UNICEF and partner it in the drive for more school enrolment and retention, the School-Based Management Committee (SBMC) chairman at the local government and state level, Bello Ciroma, revealed the ongoing plans of the state government. He said, “The state government had directed that any school being built must go along with chairs and other furniture, nothing that this has been captured in the budget.” Similarly, the headmaster of Ingawa Pilot School, Yahaya Hassan, revealed that the GEP programme, which started in 2014, has recorded successes. He said, “The programme has been useful

Some of the beneﬁciaries of GEP3 at Dambo Tukur Model Primary School, Ingawa since 2014 when it started. Girls’ enrolment had increased compared to that of boys. Initially, it wasn’t so. Initially, we recorded less than 1000 students, but now we have 1,320 pupils and parents transferring their wards here too.” Similarly, ‘haske’ is a Hausa word which means ’light’ or ’illumination’. It could not have been chosen in error when mothers in the Ingawa local government area of Katsina and, by extension, other local governments within and around the state sought to stand in the gap for their daughters’ education. Over time, the perception that a woman’s place is in the kitchen and bedroom has since changed with exposure and enlightenment. To break the vicious cycle of illiteracy and its attendant consequences,

which include poverty, unemployment, crime, low self-esteem, diseases and, in extreme cases, death, mothers in Ingawa have made it a point of duty to tax themselves for the sole aim of the continuity of their daughters in school after the basic nine years free education. They had concluded that indeed, not only do individuals benefit from such programmes, but the benefits are also shared by their respective communities and the country. Better educated women tend to be more informed about nutrition and healthcare and have fewer children, many at a later age. They contribute N50 per week towards this gesture which has turned out to be no mean feat. A member of the mothers’ association, Rabi Muhammad Ingawa, explained that support did not only stop for the girls but for mothers among them who were indigents with no form of trade or income. For the need of the N50 per week, the association also taxed itself and gave starter packs to such mothers, and this was usually in the form of groundnuts, which were often processed into oil, while the residue was

used for other edible condiments up for sale. With the falling rate of the naira almost daily, one might wonder about the strength of the N50 and what it stands to achieve in a dwindling economy. Ingawa reveals how the weekly contributions have assisted the group in supporting six of the girls presently in senior secondary school classes and how nine were supported to graduation. She said, “We believe in western education, and we have witnessed its importance over the years. We also wanted it for our female children, who have often dropped out of school after the completion of their primary school education due to a lack of funds and support.“ She added, “As mothers under the body of ‘haske’, we decided to meet every weekend and tax ourselves N50. With this, we have been able to support six girls in secondary school and nine of them who have since graduated.” One of the beneficiaries of the GEP and the mothers association, Saratu Usman, is presently running a B.Sc. programme at the Abubakar Tafawa Balewa University, Bauchi, after completing her secondary school with the support of the association. Expressing her gratitude to UNICEF for the scholarship of fifty thousand for three consecutive years, she says without such support, she couldn’t have been a student of the Isa Kaita College of Education and today possesses a certificate of education in Primary Education Studies. Like several of her contemporaries, Saratu is married and declared that marriage is no barrier to pursuing education. Hussaina Mamman Ingawa is another beneficiary who claims that the support from UNICEF has improved her life in all spheres. “UNICEF intervention through scholarship has enabled me to read Healthcare Child Education at the Isa Kaita College of Education. I have improved in all spheres, and I pray I can do for others what UNICEF had done for me,” she noted. With or without foreign aid, the federal and state governments will see the need to invest more in education as the education budgets of 2021 and 2022 do not reveal the stories of commitment. The government also needs to be reminded that no matter its investment in other sectors, no country can run faster than its citizens, particularly in technological advancement, if the citizens are lagging educationally.

Gombe Committed to Transforming Education, Says Governor Segun Awofadeji ÓØ Ù×ÌÏ

Governor Muhammadu Inuwa Yahaya has reiterated his administration’s commitment to improving the quality of education in Gombe. He stated this as Gombe marked the International Day of Education, pledging that his government would not relent until the goal of repositioning the education sector for effective and efficient service delivery is achieved. “When we came into office on May 29, 2019, I made it categorically clear that the present state of the Education sector in Gombe State was totally unacceptable. We met an education system that was ravaged by inadequate and decayed infrastructure, a large number of outof-school children, an absence of instructional materials and basic facilities, as well as a teaching workforce that was poorly trained and ill-motivated,” stated the Gombe governor. “For years, Gombe State continued to sit at the bottom of the National Education rankings like the National Common Entrance Examination the WAEC or NECO.” The declaration of a state of emergency in education in Gombe by the governor reportedly saw a sudden departure from the prism of a narrow window dressing to a broad and holistic approach towards addressing the numerous challenges confronting the sector, especially at the basic level, which is the most critical stage in human development. “Through concerted efforts, we declared a state of emergency in the education sector

and deployed a multi-disciplinary approach to deal with our educational challenges. On the one hand, we rolled out the Better Education Service Delivery for All (BESDA) project in order to mop up out-ofschool children and increase basic literacy and numeracy. On the other hand, we ramped up investment in school infrastructure by renovating over 400 schools through the effort of the State Universal Basic Education Board(SUBEB) in conjunction with the Universal Basic Education Commission(UBEC),” explained the Gombe governor. During the opening ceremony of the 36th round of the National Qur’an Recitation Competition held in Bàuchi, Yahaya stressed the importance of both religious and western education in the quest to promote societal growth and development. Furthermore, the Gombe State Executive Council presided over by Yahaya recently approved the payment of external examination fees for 23,680 final year students of secondary schools across the state. The State Executive Council also expeditiously granted N435,272,900 for the payment of WAEC, NABTEB and NBAIS examination charges. The Gombe government signed a

public-private partnership (PPP) agreement with the Lincoln University College of Malaysia to prop up academic activities at the Gombe State University of Science and Technology Kumo, which was established and abandoned by the immediate past administration in the state. While assessing the present administration’s performance in the education sector, THISDAY checks revealed that of the campaign promises for the education sector, the administration was able to fully deliver five while the remaining four are ongoing, with appreciable progress. For instance, on teachers training which is the sine qua non to effective teaching and learning, the administration of Governor Inuwa Yahaya has established a state-of-the-art Teacher Resource Centre in Kwami, which is currently providing regular comprehensive training to teachers across the state while on free and compulsory education, the Gombe government through the BESDA has since mopped up over 300,000 out of School children and established 676 non-formal girl- child and Almajiri learning centres. In addition, during this period under review, the government constructed and renovated and fully equipped 584 classrooms in 156 schools across the state. It provided over 30,000 students with furniture in various schools and informal learning centres. The Yahaya administration also drilled boreholes and built VIP toilets in selected schools across the 11 Local Government Areas of the State. This is in addition to the systematic renovation and upgrade of five

legacy schools to special schools. Similarly, in the last few years of the administration of Yahaya, the education sector has seen an increase in budgetary allocation by more than 50 per cent. This has led to an improved learning outcome, as evidenced in the rapid improvement in students’ performance, especially in the 2020 and 2021 national examinations. The payment of bursary to students of Gombe origin is another area in which the Yahaya government has been giving adequate attention. To this day, the administration of Governor Muhammadu Inuwa Yahaya has paid over N119 million in student bursary. It is, therefore, not a coincidence that the education sector in Gombe is receiving so much attention and face-lift. The government places a high premium on developing the education sector to enviable heights and is undoubtedly ready to shore up productivity to expedite general performance. Describing education as the cradle upon which development indices are measured, the governor, at a stakeholders engagement in the state capital, recently assured that his administration would continue to take measures that will address all gaps and challenges bedevilling the sector. “Our government would not relent in its efforts at ensuring that our youths are given qualitative education to enable them to excel in all their endeavours. This is part of our vision to provide sound education to our teeming youths for productive and capital development,” said the Gombe governor.

T H I S D AY ˾ WEDNESDAY JUNE 29, 2022

EDUCATION

Governor Emmanuel Kidnapping: Lalong Orders Security Increases Akwa Ibom Beef Up at Plateau Polytechnic University’s Subvention Seriki Adinoyi in Jos

Okon Bassey in Uyo Governor Udom Emmanuel has increased subvention to the Akwa Ibom State University (AKSU) with effect from July. The governor said the increment would enable the university to function effectively. Emmanuel disclosed this during a courtesy call on him by the National Board for Technical Education (NBTE) at Government House, Uyo. The governor noted the reforms of NBTE in polytechnics. He commended the board for the accreditation of programmes in the state’s polytechnic, emphasising the need for skills and technology acquisition as the bedrock of development. “Let me thank you for the full accreditation of programmes in our polytechnic, and since you have accredited all the programmes we were running, we add new ones. We just increased the subvention that

we are giving to Akwa Ibom State University, effective from July 1, 2022, to enable them to run more efficiently. We are going to do a lot more,” Emmanuel explained. The governor added, “We are trying to bridge the gap between secondary education and tertiary education in terms of skills acquisition which is why we are building one of the best skills centres in Nigeria that I will open soon.” He assured of regular payment of salaries to lectures of the state tertiary institutions and promised to improve manpower and personnel further. The governor equally noted the contributions of the Tertiary Education Trust Fund (TETFUND) to the development of tertiary institutions in the country. He appealed to (TETFUND) to consider Akwa Ibom State Polytechnic (AKWAPOLY) as one of the best in terms of skills and technical knowledge.

Governor Simon Lalong of Plateau has directed the Governing Board and Management of the polytechnic in Barkin Ladi to ensure that the institution’s security is tightened to avoid students’ kidnapping. The governor stated this at the 2012/2013 to 2020/2021 combined convocation ceremony of the polytechnic held at the institution’s main campus at Barkin Ladi. He demanded that all the

porous areas around the school campus be fortified, and the students also carried along in the security architecture of the institution. The governor also expressed displeasure at the polytechnic’s inability to conduct convocation ceremonies in eight years. Lalong said, “This unacceptable situation informed the government’s directive and approval for today’s convocation to hold, which offers the institution the opportunity to immediately clear

all the backlog of graduation and certificate awards.“ He directed all state-owned tertiary institutions to hold convocation ceremonies at the end of each academic year. “This is a sure way of building confidence, maintaining standards and motivating the graduands to pursue their careers with zeal and contribute to the development of the state and nation at large,” added the governor. Lalong also addressed staff turnover, financial liability to

part-time lecturers, accreditation and re-accreditation of programmes by the National Board for Technical Education (NBTE), renovation and upgrading of infrastructure, laboratories and workshops, etc. “We are also working very hard to ensure that all labour issues concerning the staff of the Polytechnic are addressed once and for all in order to forestall strikes that have become a major setback to sustaining a stable academic calendar,” he assured.

Pan-Atlantic University Turns 20, Seeks Partnership with Industries Funmi Ogundare

The Vice-Chancellor of PanAtlantic University (PAU) Lagos, Prof. Enase Okonedo, has called for partnership between the institution and industries for research and more sustainable practices. “We hope to partner industries on research about ways to include more sustainable practices in their management of things and the use of resources, in the way they recycled things and in the use of how they power their gas,” said Okonedo during a media parley to commemorate the institution’s 20th anniversary. She added, “For such a project, we welcome partners that can come to brainstorm and discuss so as to bring about sustainable business practices in organisations in Nigeria.” The VC explained that the

university evolved into an institution with just one school but now has six main units and a museum, adding that it has a strong Christian identity. “What Pan-Atlantic University shares as an institution are not only common to Christianity but other religions. The university has a strong pluralism and aims to approach the education for students in freedom and with freedom,” Okonedo noted. The Director of Enterprise Development Centre (EDC), Dr. Peter Bamkole, noted that “ethics is a course taught across all EDC programmes and instilled into the minds of business owners.” He also mentioned the school’s plans to open an innovation hub on campus, “where businesses or individuals can bring real-life business ideas and issues for students and researchers to work on and solve.”

Winner Emerges in FONDCUP Schools Quiz Mary Nnah

Gloria Ofili, an SSS3 student of Word of Faith group of schools, Benin City in Edo, has emerged the winner of the N200,000 grand prize at The Clan Quiz competition, organised by Face of Niger Delta Cultural Pageant (FONDCUP). The event, a pet project of the first runner-up of the Face of Niger Delta Cultural Pageant (FONDCUP), Miss Faith Etinosasere Iguodala, kicked off the first edition to celebrate the cultural heritage of the Niger-Deltans. Iguodala said the competition was initiated to promote, advocate, create awareness and project the rich culture, values, traditions, and history

of the Niger Delta people in SSS3 and JSS3. According to her, the quiz competition focuses on the region’s values, history, culture, and tradition that is gradually going into extinction. Miss Iguodala said through the quiz competition, “we celebrate Niger-Delta culture, and culture is an agent of creativity and social change.” This year’s first edition was “fun-filled, educative, and entertaining because the participants were enlightened on the fact of our history, culture, tradition, and values as a region.” She commended Ofili for being such an intelligent young maiden from the Niger Delta region.

R-L: The Vice-Chancellor, University of Lagos (UNILAG), Prof. Oluwatoyin Ogundipe; Mayor of Schmalkalden, Thomas Kaminski and Nigerian Consul-General to Frankfurt, Germany, Ambassador Wahab Akande when Ogundipe was presenting a gift to Mayor Kaminski during a summit tagged ‘Partnership for Change’ a collaboration between UNILAG and German Universities, held at Goethe University, Frankfurt, Germany... recently PHOTO FUNKE OLAODE

Greensprings School Premieres ‘It Still Takes a Village’ Series on YouTube In its quest to raise awareness of the importance of creating an enabling society that protects children and encourages every child to prosper, Greensprings School Lagos is set to release a short drama series titled ‘It Still Takes a Village’. The all-student-cast series, scheduled to premiere tomorrow, June 30, on the school’s YouTube channel, highlights the values of the age-old communal parenting where parents

cared for one another ’s children. Disclosing the series premiere, the institution’s Chief Strategy Officer, Uche Ogbu, observed that the culture of collectively raising a child through shared responsibility by various members of the society is being eroded by modern technologies and lifestyles. “As a family-oriented and child-centred institution, we are always trying to explore opportunities to strengthen the family

unit because that is the primary foundation that can determine the success of any child,” Ogbu. “This time, we chose to explore the African proverb which states that ‘it takes a village to raise a child’, and we observed that the societal application of this concept is on a fast decline due to a plethora of factors, ranging from change in lifestyles, adoption of technology, excessive working hours, the proliferation of mobile phones, social media binge,

to child abuse.” He added, “Therefore, we decided to do something about it by putting together a short drama series titled ‘It Still Takes a Village’. Our goal is to emphasise the need for an environment where the voices of our children are heard and taken seriously, with the help of multiple stakeholders comprising concerned parents, extended families, neighbours, teachers, professionals, and other members of the community.”

Old Students Donate Laboratories, Art Studio to Oduduwa College Yinka Kolawole in Osogbo

Old students of Oduduwa College, Ile-Ife, through the national body, have fulfilled their pledge to equip the school laboratories with modern equipment. Disclosing this in Ile-Ife during the annual general meeting of the association, Mr. Sooko Adefolahan Ibiyemi, chairman of the ad hoc committee and the chairman of the board of

governors of the school, said the science laboratories and the art studio were equipped with modern facilities to enhance the teaching of science. Also speaking, the Ooni, represented by Oba Olusegun Layade, commended the old students for their commitment to the development of their alma mater and prayed for their prosperity to do more. The Baba Oba of Ife, an

old student of the college, Prince Oluropo Ogunwusi, eulogised the entire body for its untiring efforts at developing the school infrastructure for better performance of the students. Another old student, Sheik Saka Fawole, expressed his satisfaction with the efforts. The late Justice Bola Babalakin was inducted into the college’s hall of fame. The prizes were awarded to outstanding students

and staff to encourage high performances from the rest of the staff and students. While speaking to journalists after the event, Mr Sooko Ibiyemi expressed satisfaction with the AGM. A member of the association’s board of trustees, Pa Julius Adefiranye, advised the college’s students to justify the association’s huge investment by studying hard to get good grades in their examinations.

T H I S D AY ˾ WEDNESDAY, JUNE 29, 2022

BUSINESS/MONEYGUIDE

AIO: Insurance Operators Urged to Promoting Environmental Sustainability in Africa Ebere Nwoji Insurance and reinsurance operators across Africa have been challenged on the need to promote environmental sustainability in the continent in line with the UN’s principle of sustainable insurance initiative. The insurers were given the challenge at the on going Africa Insurance Organisation’s (AIO) conference holding in Nairobi, Kenya. The regional insurers were informed that the 2012 UN’s principles of sustainable insurance were dedicated to helping insurers manage sustainability risk while seizing opportunities to move towards a more climate resilient economy. The Chief Administrative Secretary, The National Treasury

and Planning Kenya, Eric Simiyu Wafukho who challenge the regional insurers at the conference noted that the theme of the conference which is, “Insurance and Climate Change: Harnessing the Opportunities for Growth in Africa,”was apt in addressing the current global challenges affecting the continent. “The insurance industry has a critical role to play in helping companies and nations manage, measure and reduce the impact of climate change. We therefore cannot continue with business as usual in the face of increasing frequency and scale of risks caused by climate change.We must adjust our business models to better support environmental , social and governance (ESG) issues, Wafukho stated.

He highlighted the UN’s four principles for sustainable insurance as including ESG issues that are relevant to insurance business into decision making process, working with clients and business partners to raise awareness of ESG issues, manage risk and develop solution. In his remarks, the AIO President Mr Tope Smart, said the AIO, was established in 1972 with the objectives of developing a healthy insurance and reinsurance industry and the promotion of inter-African co-operation. He said the African insurance industry remained one of the least penetrated in the world, with an average of around 2 percent which is low compared to the global average of around 7 percent.

FBNQuest Merchant Bank Partners USAID to Advance Urban Adolescent Health Program In line with its commitment to deliver impactful communityfocused initiatives, FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, has partnered with the United States Agency for International Development (USAID) on its Youth-Powered Ecosystem to Advance Urban Adolescent Health program being implemented by Development Alternatives, Inc (DAI) in Lagos State. The bank in a statement said it believe the initiative is one that would ultimately drive economic growth in Nigeria and equip young adults with life-long skills. “In line with the bank’s

Corporate Responsibility and Sustainability efforts, the firm continues to seek opportunities to give back to our community and the USAID Youth-Powered Ecosystem program presents the platform to achieve this goal. The organisation is thrilled with this partnership as it is targeted at young adults with the aim of ensuring that they are not only equipped with a skill but are also inspired to prepare for their future, “the statement reads. A representative from DAI stated that, “At DAI we are pleased to collaborate with a reputable organisation like FBNQuest to provide hope for the future of out-of-school

adolescents that USAID through the Youth-Powered Ecosystem to Advance Urban Adolescent Health Project is programming for, especially through its livelihood trainings and empowerment.” Commenting on the partnership, Managing Director/CEO, FBNQuest Merchant Bank, Kayode Akinkugbe stated, “We are pleased to have partnered with USAID on this laudable initiative that will promote and drive knowledge and skill development. We recognise programs such as these plays a vital role as a catalyst for growth, and we remain committed to equipping our youth with the relevant skills needed to excel.

Stanbic IBTC Pension Pledges Commitment to Enhancing Organisations’ Welfare Nume Ekeghe Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings, has reiterated its commitment to the well-being of its customers. Chief Executive, Stanbic IBTC Pension Managers, Olumide Oyetan, stated this at the 2022 edition of the Stanbic IBTC Pension Managers Employers Forum. The virtual event which was themed ‘Pension Smart: Equipping your Employees for a Better Future’ dissected topical industry issues, exploring new and efficient ways to better serve customers. Acknowledging the role employees play in the efficient operation of any organisation,

Oyetan noted that the survival of business enterprises depends on ensuring the general well-being of their staff and having a pension fund provides an avenue for employers to plan for the future of their employees. “For employers, the importance of planning towards the well-being of their employees remains paramount to the survival of such organisations. Having a pension system in an organisation demonstrates the employer’s commitment to the future of its employees,” Oyetan said. While appreciating employers for the confidence bestowed upon Stanbic IBTC Pension Managers, Olumide Oyetan, noted that the organisation has continued to

demonstrate its ability to deliver value, being the largest pension fund administrator in Nigeria, both in volume of Retirement Savings Accounts (RSA) and value of Assets Under Management (AUM) based on the 2020 Annual report of the National Pension Commission (PenCom). Highlighting the organisation’s capabilities, Oyetan said: “We at Stanbic IBTC Pension Managers have continued to demonstrate excellent leadership in pension management in Nigeria. Through our technological offerings, we have continued to unbundle the challenges associated with pension administration as contributors can access their funds from any part of the country.

CBN, Bankers Committee Sensitises Lagos Markets on ENaira Nume Ekeghe In a bid to enhance the adaptation of eNaira the Central Bank of Nigeria (CBN) in collaboration with the Bankers Committee over the weekend conducted an eNaira roadshow at Balogun and Tejuosho markets in Lagos State. The team, comprising CBN staff and representatives of some commercial banks over the weekend took the roadshow to Tejuosho market, Yaba market. Speaking at the sensitisation exercise, the Brand Ambassador

for eNaira, Gabriel Afolayan, urged Nigerians to accept the CBN digital currency, “as it is a very good platform for customers and buyers. eNaira is the way to go now because a lot of people don’t want to move around with liquid cash. It’s mainly for people that are into business because sometimes even when you order for stuff and the money doesn’t get delivered on time, eNaira will solve that problem with just sharing code between the buyer and the seller as well. “So right now, in 2022 and

beyond, eNaira is the way to go; that is the easiest way to buy stuff without having to look at your back that you have somebody who wants to steal from you. All you need to do is just communicate with who you’re transacting with, and once you share your barcode, business is solved.” He urged people to go to the play store and apple store to download the app, saying it was not complicated, rather easy to operate, just like a one speed dial.

EXCITED OVER HIGHER RETURNS…

L - R : Group Executive Director , NIPCO Plc, Alhaji Abdulkadir Aminu; Managing Director , Mr. Suresh Kumar ; Chairman of the company, Chief Bestman Anekwe ; and Company Secretary, Mr. Paul Obi, during the company’s 18th Annual General Meeting held in Abuja …recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY MAY 30, 2022

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

T H I S D AY ˾ WEDNESDAY, JUNE 29, 2022

MARKET NEWS

Shareholders Excited as NIPCO Pays N3.25k Dividend Per Share Ejiofor Alike Shareholders of NIPCO Plc, an integrated downstream operator in the Nigeria’s oil and gas industry, have approved the payment of N3.25 kobo per share as cash dividend for the financial year that ended in December 2021. This represents an increase of 25k per share from the dividend paid for the year that ended in

December 2020. The increase in the company’s dividend payment was a demonstration of the company’s unwavering commitment to grow the investment of the shareholders. The shareholders at the recent 18th Annual General Meeting (AGM) held at Transcorp Hilton Hotel in Abuja, approved the dividend payout and all the resolutions before them at the

P R I C E S MAIN BOARD

F O R DEALS

meeting. Speaking at the statutory meeting, the Chairman of NIPCO Plc, Chief Bestman Anekwe said the board proposed the total dividend of N609.9million, translating in N3.25k per share, despite the harsh operating environment over the years He applauded the exemplary performance of the management team and the entire workforce

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

QUANTITY TRADED

VALUE TRADED ( N )

for turning in higher returns for the company. Anekwe said the company would remain committed to strengthening and expanding its operations in both white products and gas across the country. “We have been able to penetrate into most areas in the country thereby increasing our customer strength while maintaining the stellar performance we are noted

T R A D E D MAIN BOARD

A S

for,” he said. In his own remarks, the Managing Director and Chief Executive Officer of NIPCO Plc, Mr. Suresh Kumar said the company would take advantage of the opportunities in the Petroleum Industry Act (PIA) to further drive its mission of meeting the needs of stakeholders in the deregulated downstream sector . “This year 2022 will be sig-

O F

nificant for operators in the Oil and Gas industry with the PIA implementation and attendant reforms . “We hope to harness the business opportunities in the country and significantly expand our investment in the industry within the framework of right operating which is key to boosting investors’ confidence,” Kumar explained.

2 8 / 0 6 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY JUNE 29, 2022 • T H I S D AY

WEDNESDAY, JUNE 29, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 27June-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 196.34 197.49 17.61% Afrinvest Plutus Fund 100.00 100.00 6.32% Nigeria International Debt Fund 320.20 320.20 5.13% Afrinvest Dollar Fund 106.02 107.17 7.45% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 3.20% Anchoria Equity Fund 146.77 148.41 5.40% Anchoria Fixed Income Fund 1.21 1.21 5.40% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 22.12 22.78 9.03% ARM Discovery Balanced Fund 513.92 529.42 13.91% ARM Ethical Fund 43.65 44.97 12.05% ARM Eurobond Fund ($) 1.06 1.07 -1.54% ARM Fixed Income Fund 1.04 1.05 2.99% ARM Money Market Fund 1.00 1.00 6.47% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.94 105.94 8.80% AVA GAM Fixed Income Dollar Naira 1,118.47 1,118.47 11.85% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.09 2.09 4.04% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.39 2.44 20.75% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.05 1.05 4.21% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.10% Paramount Equity Fund 20.14 20.37 15.09% Women's Investment Fund 151.10 153.00 6.42% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.53% Cordros Milestone Fund 136.36 137.28 9.34% Cordros Dollar Fund ($) 110.02 110.02 5.11% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.02% Emerging Africa Bond Fund 1.05 1.05 8.64% Emerging Africa Balanced Diversity Fund 1.06 1.06 16.52% Emerging Africa Eurobond Fund 102.65 102.65 4.58% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1468.51 1468.51 10.62% FBN Balanced Fund 195.32 196.69 11.45% FBN Halal Fund 120.80 120.80 10.14% FBN Money Market Fund 100.00 100.00 6.79% FBN Dollar Fund (Retail) 124.36 124.36 5.85% FBN Nigeria Smart Beta Equity Fund 165.98 168.20 9.25% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 4.75% Legacy Debt Fund 3.87 3.87 -3.25% Legacy Equity Fund 1.95 1.95 10.94% Legacy USD Bond Fund 1.23 1.23 2.09% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,177.88 3,574.50 100.00

4,238.36 3,574.50 100.00

15.01% 6.27% 7.23%

FSDH Dollar Fund 1.11 1.11 3.93% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 4.43% Vantage Balanced Fund 3.03 3.07 12.30% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 141.07 141.07 2.94% Vantage Equity Income Fund (VEIF) - June Year End 1.30 1.33 9.09% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 4.07% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.60 1.63 12.57% Lotus Halal Fixed Income Fund 1,174.74 1,174.74 4.77% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.55 12.62 14.85% Meristem Money Market Fund 10.00 10.00 8.45% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.59 102.59 8.63% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.48% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 127.86 130.69 6.26% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.05 1.05 8.54% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,698.04 3,740.31 -1.98% Stanbic IBTC Bond Fund 239.46 239.46 0.25% Stanbic IBTC Ethical Fund 1.47 1.50 -1.66% Stanbic IBTC Guaranteed Investment Fund 321.54 321.55 0.39% Stanbic IBTC Iman Fund 276.20 280.21 -0.09% Stanbic IBTC Money Market Fund 1.00 1.00 3.67% Stanbic IBTC Nigerian Equity Fund 12,414.69 12,586.46 -1.88% Stanbic IBTC Dollar Fund (USD) 1.32 1.32 0.39% Stanbic IBTC Shariah Fixed Income Fund 118.77 118.77 0.24% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 110.17 110.17 0.64% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.00 1.03 13.04% United Capital Balanced Fund 1.36 1.39 4.20% United Capital Wealth for Women Fund 1.16 1.18 12.23% United Capital Sukuk Fund 1.06 1.06 3.55% United Capital Fixed Income Fund 1.89 1.89 3.18% United Capital Eurobond Fund 121.63 121.63 2.69% United Capital Money Market Fund 1.00 1.00 7.11% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.99 14.13 6.12% Zenith ESG Impact Fund 16.24 16.42 11.13% Zenith Income Fund 22.78 22.78 3.79% Zenith Money Market Fund 1.00 1.00 5.84% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.92 4.02 -2.22% Vetiva Consumer Goods Exchange Traded Fund 6.18 6.28 5.72% Vetiva Grifﬁn 30 Exchange Traded Fund 19.17 19.37 8.33% Vetiva Money Market Fund 1.00 1.00 5.44% Vetiva Industrial Goods Exchange Traded Fund 21.46 21.66 7.35% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 154.36 156.36 -2.15%

REITS NAV Per Share

Yield / T-Rtn

117.13 51.68

3.47% 1.63%

Bid Price

Offer Price

Yield / T-Rtn

15.26 144.59 114.86 17.10 16.40

15.36 148.09 117.32 17.20 16.50

9.07% -4.28% -3.39% 21.74% 4.54%

NAV Per Share

Yield / T-Rtn

107.55

12.10%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY, ͺ΁˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

AFRICA BUSINESS INTEGRITY... L-R: Head, X-Academy, Nigerian Exchange Limited (NGX), Ugochi Obi; Africa Regional Director, Centre for International Private Enterprise (CIPE), Lars Benson; Country Director, Omowumi Gbadamosi; National President, Nigerian Association of Chamber of Commerce, Industries, Mines and Agriculture (NACCIMA), Ide John Chinyelu Udeagbala, and Divisional Head, Capital Markets, NGX, Jude Chiemeka, during the Africa Business Integrity Network (ABIN) Corporate Awards hybrid event held in Lagos...yesterday

Jonathan: I Didn’t Implement 2014 Confab Report Because I Was Conﬁdent of Victory in 2015 Says he wanted to use his second tenure for implementation Blames PDP-elected lawmakers Iyobosa Uwugiaren and Emameh Gabriel in Abuja For the first time since he left office in 2015, former President Goodluck Jonathan, yesterday, said his administration could not implement the 2014 National Conference report, because he was confident that he would win the 2015 presidential election and use the first two years of his second tenure to implement the report.

Jonathan, however, explained that with a new government, it would have been easier to achieve the implementation of the report, saying one of the problems of the country was that Nigerians liked playing politics with things that had very much to do with national interest. The former president, whose speech, was delivered by a former Senate President, Anyim Pius Anyim, was a guest speaker at

a public presentation of a book titled: “The National Conversation”, authored by the former spokesman for the 2014 National Conference, James Akpadem and the Communication Strategist for the conference, Sam Akpe, in Abuja. “When I contested the 2015 elections, my expectation was that I would win a second term within which period I would have worked for the implementation of the confab report. I felt that within the next

four-year mandate, my first two years would have been dedicated to implementing a reasonable part of the recommendations. “If we take politics out of our national calculations, we would all agree that with a fresh government, it would have been easier to achieve the implementation of the report. One of the problems of this country is that we like playing politics with things that have very much to do with national interest.

Ekweremadu: House Invites Onyeama, Others, Seeks Consular Service for Embattled Senator, Wife Criminal charge doesn't constitute conviction, says Gbajabiamila Udora Orizu in Abuja The House of Representatives yesterday resolved to invite the Minister of Foreign Affairs, Geoffrey Onyeama; the acting Comptroller General of the Nigerian Immigration Service (NIS), Issa Jere and the Chief Executive Officer of the National Identity Management Commission (NIMC), to brief them on necessary actions taken regarding the travails of former Deputy Senate President Ike Ekweremadu and his wife, Nwanneka, who are detained London. The couple was arraigned at the Uxbridge Magistrate Court in London on charges of conspiracy and organ harvest last week. The House mandated the Federal Ministry of Foreign Affairs and the High Commission of Nigeria to the United Kingdom to take all necessary steps possible to ensure that Senator Ekweremadu and his wife were provided all consular services as they may require in this critical time. The lawmakers also requested that the agencies of the federal government of Nigeria and relevant corporate bodies and particularly the NIMC, NIS and banks act swiftly to respond to legitimate request for information to facilitate the prompt resolution of the charges against the Senator and his wife. They further urged the Ministry of Health and Nigerian Embassy in UK to provide care for Ekweremadu's daughter pending the court case. The resolutions of the lawmakers were sequel to adoption of a motion of urgent national importance sponsored by Hon. Abdullahi Abdulkadir Ningi and seconded

by Hon. Haruna Mshelia at plenary. Moving the motion, Ningi noted the arrest of Senator Ekweremadu, a Nigerian citizen and serving senator of the federal republic of Nigeria, former Deputy President of the Senate and former Deputy Speaker of the ECOWAS parliament, by the metropolitan police in the United Kingdom. He said the House was aware that the Metropolitan police and the Crown Prosecution Service (CPS) had charged the Ekweremadu's of offences relating to human trafficking and exploitation and have had them detained pending the determination of the jurisdiction issues by the attorney-general of England and Whales. He said the intent of his motion was for justice and fairness of all, saying from what was happening so far, he felt all the privileges and status that Ekweremadu was supposed to enjoy had been thrown to the dustbin. The lawmaker said, "Aware of Senator Ike Ekweremadu unblemished record as a constitutional lawyer, ranking legislator at the highest level in Nigeria, West Africa sub-region and various international parliamentary bodies and foremost advocate of the right and dignity of man. Mindful of the value of human life. “It is imperative that Miss Ekweremadu who has a life threatening ailment is not allowed to come to harm’s way due to the unavailability of parental care owing to their continuous detention in the United Kingdom. "We cannot have a situation where

a simple allegation that has not been thoroughly investigated would result in a high ranking public officer who has served and is still serving the Nigeria public, the Nigerian State and he has a diplomatic passport. “We cannot allow this to happen. If it can happen to someone of Ekweremadu’s status, I wonder what would happen to ordinary Nigerians. Hopeful that the authority in the United Kingdom will work with their national security and intelligence counterpart in Nigeria to conduct a holistic and thorough

investigation to ascertain all the fact relating to the allegation in order to make a fair determination on the issues in the best interest of equity and justice for all concerned." Contributing, the Deputy Minority Leader, Hon. Toby Okechukwu (PDP, Enugu) agreed with the sponsor, saying someone should not unduly and hastily be put in such a position that he would have suffered some jeopardy before he now have a finding of innocence. Continued online

“We play politics with our security. We play politics with our economy. We play politics with almost everything. That, definitely, is not the way to go, if we must make progress in realising our national aspirations and goals.” Explaining how his efforts to implement the report were frustrated, Jonathan disclosed that he was handicapped not only because of the political environment at the build-up to the 2015 general election at the time, but was also betrayed by members of his party, the Peoples Democratic Party (PDP), especially, PDP-elected members of National Assembly. The Jonathan administration had in 2014 organised a national dialogue to deliberate on and recommend ways to resolve some of the challenges facing the country, many of which were rooted in history and disenchantment in some sections of the country, and arguably multiplied by the failure of his administration. According to him, “The essence of the 2014 Confab was to encourage a healthy conversation among the populace, address the queries agitating the mind of Nigerians and mend fences, where possible. As at that time, it was obvious that the ethnic nationalities were singing discordant tunes on the state of the nation and future of the country. “The widening fault lines posed

a clear threat to the stability and existence of our dear nation. In responding to the yearnings of the people, my administration inaugurated the conference to provide the opportunity for Nigerians to discuss their issues and agree on the way forward. “My message to the conference was very clear; that they could discuss everything, save for the sovereignty of our great country, Nigeria. I believe, like most Nigerians, that we are better off as one united country.” Jonathan argued that the ethnic diversity and population of the country could be deployed to enhance its economic development and relevance in the global scheme of things, adding that on the contrary, disintegration into smaller fragments would diminish the status of Nigeria and its standing in the world. Expatiating further on why he could not implement the recommendations of the report as being canvassed by some people, he said his feeling was either those people did not understand the political environment at that time, the length of time it would take to implement the report of a conference like that or probably were just playing politics with such an important matter. Continued online

LIKE TINUBU, APC’S VICE PRESIDENTIAL PLACEHOLDER, MASARI, DECLARES CERTIFICATES MISSING restraining the electoral umpire from accepting the name of Senator Bola Tinubu as candidate of APC in the forthcoming presidential election. The plaintiff, in the Writ of Summon, marked, FHC/ABJ/ CS/954/2022, predicated its request on the claim that both APC and Tinubu were not qualified to participate in the 2023 presidential election because of alleged forgery committed by Tinubu in 1999. The suit filed on behalf of the plaintiff by its lawyer, Mr Upkai Ukairo, claimed that Tinubu forged his University of Chicago certificate he submitted in 1999 in aid of his qualification for the 1999 governorship election in Lagos State, which he won. The suit, dated and filed June 21, had INEC, APC, and Tinubu as first, second, and third defendants, respectively. In a 16-paragraph statement on oath deposed to by one Kalu

Agu, the plaintiff submitted, “The third defendant is a person, who is not qualified for election to the office of President of Nigeria on the grounds of alleged forgery.” According to the deponent, the third defendant provided false information and attached forged documents in the Form CF 001 he submitted to INEC in 1999 in aid of his qualification for the governorship poll. Agu stated that the claim by Tinubu that he possessed BSc degrees in Economics and Business Administration from the University of Chicago and Chicago State University in 1976 and 1979, respectively, were false. “The third defendant knew he did not possess all the educational qualifications he listed in the said INEC form,” Agu added. The deponent further claimed that the matter of false information by Tinubu was once reported to the Inspector General of Police and the Lagos State House of

Assembly, wherein the latter set up a committee, which in its report on Page Two, stated , “The governor of Lagos State stated his evidence by admitting full responsibility for some of the needless errors being pinpointed in recent publications and which formed the basis of the allegations against him.” The plaintiff contended that, arising from the above, the third defendant was not qualified for election into the office of President of Nigeria, and, therefore, prayed the court to declare that the third defendant’s claim that he attended Government College, Ibadan, and University of Chicago in his INEC Form CF 001 in 1999, which he presented to INEC, was false. He also urged the court to further declare that the alleged false information on Tinubu’s INEC Form CF 001 about his BSc degree in Economics from the University of Chicago “is a forged certificate”.

The plaintiff said in view of Section 137(1)(j) of the 1999 Constitution, the court should declare that the third defendant, “Having in 1999 presented a forged certificate to INEC, is not qualified to contest for the office of president.” He sought, “A declaration that by virtue of Sections 224, 23 and 24 of the 1999 Constitution and the Constitution of the APC, the office of the President of Nigeria is to be occupied by a man of integrity and impeccable character.” While the plaintiff prayed the court for an order of perpetual injunction restraining INEC from publishing the name of Tinubu as candidate of the APC in the 2023 presidential election, AA prayed for another order of perpetual injunction restraining INEC from listing APC as a political party on the ballot for the 2023 presidential poll. No date has been fixed for the hearing of the suit.

WEDNESDAY, ͺ΁˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

PRESENTATION OF THE NATIONAL CONVERSATION... L-R: Author, Sam Akpe; Hon. Sam Chinedu Onwuso; Co-author of the Book, James Akpandem; Senator Bob Eﬃong; Chief Timi Alaibe; Dr. Akilu Ndabawa; Representative of former President Jonathan, Former SGF, Senator Anyim Pius Anyim; Senior Special Assistant to the President on Niger Delta, Senator Ita Enag, during Book Presentation of the ‘National Conversation, Interests and Intrigues that PHOTO: KINGSLEY ADEBOYE Shaped the 2014 National Conference in Abuja... yesterday

Senate: Supreme Court Verdict on Electoral Act, Victory for Democracy N’Assembly will amend law to remedy weaknesses, says Lawan Sunday Aborisade in Abuja The senate, yesterday, commended the Supreme Court over its latest judgement on the controversial Section 84 (12) of the Electoral Act 2022 saying it was victory for democracy. The red chamber gave the commendation after a matter of national importance was brought to the floor by Senator Yahaya Abdullahi (APC, Kebbi North). President of the Senate, Ahmad Lawan, then said efforts would be made by the National Assembly to amend the electoral act to serve as safeguard against weaknesses identified in the law. Lawan, in his remark, described the judgement by the Supreme Court on Section 84(12) of the Electoral Act as a “landmark” judgment that vindicated the National Assembly. According to him, further amendment of the Act would strengthen it ahead of the 2023 general election. He said, “Let me say that this is one major landmark judgement by

the Supreme Court, that the National Assembly had done their job and the court upheld it. The idea of what method of primaries should be adopted at the moment is entirely left for the political parties to decide. “But as we implement the Electoral Act 2022, we are supposed to be very observant of the strengths and weaknesses of the law. This law is supposed to improve on the electoral processes and procedures in our country. “So, it is for us to ensure that, where there are weaknesses, we try to come up with measures, amendments to deal with the issues of weaknesses in the law. And, I’m sure it will come full circle, when the 2023 elections are held. “I have no doubt in my mind that all of us in the National Assembly, not only in the Senate, but in the House as well, feel that we must do everything and everything possible to make this electoral act serve the purpose for which it was passed and assented to. “Therefore, I believe that we

NIGER DELTA ELDERS BERATE NDDC BOSS, ADVISER FOR ALLEGEDLY SUPPORTING ITS OPERATION WITHOUT BOARD mented on it, insinuating that "the FG wants to amend the NDDC Act before inaugurating the Board of the NDDC” when it should abide by the provisions of the extant law. According to the group, by his unguarded comments, Eradiri also “brazenly contradicted and made a mockery of President Buhari, who unequivocally, on June 24, 2021 promised to inaugurate the substantive board of NDDC upon receipt of the forensic audit report. The report has been on his table since September 2, 2021.” The president had made the promise when he received in audience the leadership of the Ijaw National Congress (INC) in Aso Rock, Abuja during which he had lamented, "the mismanagement that had previously bedeviled the NDDC," hence the need for a forensic audit. With no NDDC board yet in place, NDEF aligned with the Ijaw National Congress (INC) which had already been compelled to describe the delay in the inauguration of the Board as a, “clear betrayal of trust and display of state insensitivity on the Ijaw nation and Niger Delta region.” Similarly the Niger Delta United Congress (NDUC) supported the position of INC, saying that it, “represents the collective position

of Niger Deltans, not the subterfuge from a puppet and beneficiary of the current illegality in NDDC who unabashedly sings the deleterious tunes of his paymasters to suppress Niger Deltans and deprive them of the benefits accruing from their God-given natural resources.” The Elders’ Forum therefore wondered where the NDDC adviser derived his authority and urged the federal government to call Eradiri to order, saying he has no authority to be making, "outlandish statements that have become huge embarrassment to President Buhari and the federal government." “What the NDDC Act provides is that the Board and Management (Managing Director and two Executive Directors) of the NDDC at any point in time should follow the provisions of the law which states that the Board and management is to be appointed by the President, subject to confirmation by the Senate. "In effect, the current Sole Administrator (Effiong Akwa), or his Special Adviser (Udengs Eradiri) are not recognised by the law setting up NDDC, the NDDC Act, and therefore lack the authority, and even moral standing to begin to pontificate on the appropriateness or otherwise of a subsisting law which he and his master currently violate," the Niger Delta Elders said.

should work tirelessly to take note of those areas that we feel are not strong enough – that are weak points in the law – with a view to strengthening them before we finally take our exit in 2023.” Abdullahi lauded the 9th Assembly for resisting the pressure from the executive to amend section 84(12) of Electoral Act 2022, and applauded the Supreme Court for the clarity, decisiveness and unanimity of its verdict in upholding the separation of powers’ principle enshrined in the nation’s 1999 constitution.

He said the Supreme Court verdict was a major victory towards true democratic governance anchored on the rule of law. “In my view, the Supreme Court verdict should be celebrated for the following reasons. It restored and anchors the power of making laws to the National Assembly; and establishes a principle that once the President accents to a Bill he/she can't approbate and reprobate, i.e. he/she cannot go to the courts to amend/reject the Bill in part or in whole,” he said.

He, however, underscored the need to amend the Electoral Act to revert to the Direct mode of primaries. “One issue still remains outstanding, and that is amending the Act (after the 2023 elections) to revert to our earlier stance on Direct primaries. Our recent nasty experience of the misuse of consensus and delegate system has vindicated our earlier position on the merit of direct primaries provided that a verifiable membership register of political parties kept simultaneously at the

Ward level and with INEC with all the necessary safeguards against corruption and data manipulation, is put in place. “As the political process towards 2023 unfolds, the National Assembly needs to be observant of the loopholes and weaknesses of the 2022 Electoral Act, so that a comprehensive assessment is undertaken to provide adequate grounds for making amendments to the Act before the end of the term of office of the 9th Assembly in May 2023,” the lawmaker added.

TUC Issues Strike Threat to Fayemi over Unpaid Workers' Benefits Victor Ogunje in Ado Ekiti The Trade Union Congress, Ekiti Chapter has advised Governor Kayode Fayemi to pay backlog of arrears of workers as promised during his electioneering campaign in 2018, before the expiration of his tenure on October 15, 2022. The labour union said redeeming such pledge would further reinforce workers' trust in the All Progressives Congress-led administration in Ekiti and smoothen relationship with the incoming governor, Hon. Biodun Oyebanji. However, sequel to government's

inability to meet some pending workers' demands, the TUC issued a 21 -day ultimatum to Fayemi to pay all arrears of salaries, deductions and promotion, failing which industrial harmony could no longer be guaranteed. These were contained in a statement made available to newsmen in Ado Ekiti yesterday, after the union's State Executive Council's meeting, signed by its State Chairman, Mr. Sola Adigun. The trade union congratulated Oyebanji on his victory in the just concluded governorship poll, urging him to be magnanimous

in victory by being inclusive in governance and forming robust alliance with opposition to build Ekiti of his dream. The council condemned in strong terms, the rate of kidnapping of citizens in the state, urging Fayemi to devise means to curtail the nefarious act that was threatening peaceful coexistence and investment drives. "The TUC commends the government's prompt payment of salary since the inception of this outgoing administration in Oct 2018 till date. However, the TUC reminds Governor Fayemi of

Edo PDP Crisis: Justice Ekwo Threatens INEC Insists ‘my order must be obeyed’ Chuks Okocha in Abuja Reprieve came the way of the People Democratic Party (PDP) in Edo state as Justice Ekwo of the Federal High Court 5, Abuja, yesterday ordered the Independent National Electoral Commission (INEC) to accept and publish the names of Hon. Ogbeide Ihama, Pascal Ugbome, Chief Mike Onolememen, Patrick Giwa, Hon. Lucy Omagbon, Barrister Nosa Adams and others as candidates of the party for Edo State in 2023 general elections. Justice Ekwo frowned at INEC for disobeying his early order to accept and recognise the PDP primary conducted by the Chief Dan Orbih faction for the purpose of electing candidates for next year's election. Ihama, Ogieva, Omagbon, Giwa

and others had approached Justice Ekwo of the Federal High Court 5, Abuja, seeking an order for INEC to only recognise the Dan Orbihled faction of the party’s primary conducted on May 18, 2022. Justice Ekwo in the Suit no. FHC/ABJ/CS/808/2022 had earlier issued an order directing INEC to only accept and recognise the candidates that emerged from the Dan Orbih faction, which was not complied with . The judge frowned at the failure of the commission to obey his order and threatened to wield the big stick if at the next hearing it was not complied with. INEC’s lawyer, Abdul Sani told the court that the commission had written to Dr. Iyiochia Ayu-led National Working Committee to forward the particulars of the

candidates with whom an order was made for them to upload and display for claims and objections as provided for by the electoral act. Sani also tendered before Justice Ekwo a letter written by the Commission to the PDP National Chairman demanding for the particulars of said candidates. The Judge adjourned sitting till July 7, 2022, for hearing of the case. But when contacted, INEC’s National Commissioner for Information and Chairman Voters’ Education, Festus Okoye said the Commission was not aware of the court order. He also said no court order have been served on the Commission. Okoye reiterated that the INEC did not publish any list for Edo state candidates because of a subsisting court order served on the commission.

his initial promise to offset all arrears payment before the expiration of the tenure. "But we note with dismay, the refusal of the government to remit the already deducted dues such as co-operative deductions, contributory pension, bank loans repayment, NHF fund, to the appropriate quarters, thereby making life becoming unbearable for workers. "We equally frown seriously at the refusal of the AccountantGeneral of the State to continue with cooperative savings update of Ekiti workers, due to the alleged presence of some syndicate operating in her office. "Most members of TUC have not benefited from the new minimum wage after almost two years of implementation in the state, thus we call on the government to implement the minimum wage across the board for all workers without further delay.” The TUC added: "We note that the financial backing given the 2018 - 2019 promotion exercise was selectively implemented. Hence, we call on government to ensure that others exempted should be immediately captured for financial remuneration. "The TUC also demands that the facilities in the health institution especially the teaching hospital be upgraded to meet up with the expected standard of best practices. "Finally, the meeting demands that the government should set machinery in motion within the next 21 days to meet up with the above demands, failing which industrial harmony will no longer be guaranteed."

WEDNESDAY, ͺ΁˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

BUHARI MEETS AGGRIEVED APC SENATORS ...

L-R: Secretary to Government of the Federation, Mr. Boss Mustapha; Senator Ibrahim Yahaya Oloriegbe; President Muhammadu Buhari; Chief Whip of the Senate, Senator Orji Uzor Kalu; Senator Frank Ibezim; Senator Ibrahim Hadeja; Senator Danladi Sankara and some others, during an audience with the president at the State House in Abuja…yesterday PHOTO: SUNDAY AGHAEZE

Senate: Ex-CJN’s Resignation Won't Stop Probe of Alleged Corruption Sunday Aborisade in Abuja The Senate, yesterday, vowed to proceed with its ongoing probe of corruption allegations levelled against the immediate past Chief Justice of the Federation, Justice Ibrahim Tanko Muhammad. The red chamber had at its

plenary last Thursday mandated the Senate Committee on Judiciary, Human Rights and Legal Matters to probe allegations of corruption raised in the petition by the 14 justices of the Supreme Court. The ex-CJN resigned his appointment on Monday on health grounds, although new developments have

indicated otherwise. The Senate at its plenary, however, said the resignation not withstanding, its committee would still go ahead with the probe. The upper chamber took the decision after considering a motion by the Chairman of the Judiciary, Human Rights and Legal Matters,

Senator Opeyemi Bamidele. It also tasked the Committee to interface with the three arms of government, as well as at the Bar and on the Bench to collate aggregate views and positions on the short term, medium term and long term measures needed to decisively address the crisis facing

the Judiciary. The senate said such measure must include the immediate fiscal intervention as well as long term and sustainable budgetary allocations, required for the optimal performance of the Judiciary, in line with global best practices. Coming under Orders 41 and

House to Consider Bill Seeking Establishment of Electoral Offences Commission

Russia, Ukraine War: Lawmakers ask FG to reverse decision on degrees from online medical schools

Udora Orizu in Abuja The House of Representatives may this week consider for first and second reading a bill seeking the establishment of an Electoral Offences Commission for the investigation and prosecution of electoral offenders. This followed the adoption of a motion titled, ‘Rescission on Referral of a Bill for an Act to Establish Electoral Offences Commission and for Related Offences’ presented by Chairman Rules and Business, Hon. Hassan Fulata at yesterday’s plenary. The lawmakers had at the plenary last week, stepped down the bill over sponsorship controversy. Hon. John Dyegh had raised a point of order, informing the Speaker that he had sponsored the bill severally in previous and present Assembly, wondering why his bill was not among those consolidated. He said, "I sponsored this same bill in previous assembly, it went through all the readings and got to the point of it being signed by Mr. President and the President referred it back for it to be included in the electoral act, it came back and was included, unfortunately it wasn’t signed. “I brought it up again in this assembly and it was cleaned up, only remaining for the report to be taken and it was deliberately stepped down and I don’t understand. Today so many bills are coming up on the same matter." Gbajabiamila in his response agreed that Dyegh's bill should be consolidated and his name added to the list of sponsors, hence the bill should be stepped down and presented again this week. At the plenary, the Chairman Committee on Rules and Business, Fulata presented a motion of rescission to that effect for further consolidation of the proposed

legislation to include Dyegh's bill. He said, "Notes that on Wednesday 14 July 2021, a Bill for an Act to Establish Electoral Offences Commission: and for Related Matters was referred to the Committee of the Whole. Also notes that bills on the same subject matter are pending before the House, hence the need to rescind the resolution on the Bill to further consolidate with other Bills." Also at the plenary, the House in adopting a motion sponsored by Hon. Olukemi Taiwo urged the Federal Ministry of Information and Culture to establish Nigeria Television Authority in Lanlate, Ibarapa Area of Oyo State. It also mandated the Committee on Information, National Orientation, Ethics and Values to ensure the establishment of NTA in Lanlate and report back within six weeks for further legislative action. Russia, Ukraine War: House Asks FG to Reverse Decision on Degrees from Online Medical Schools Meanwhile, the House of Representatives has called on the Medical and Dentistry Council of Nigeria (MDCN) to reverse its earlier decision by allowing Nigerian students in the sixth and final year of their programmes at various Ukrainian Medical schools, that have completed their final exams to register for the MDCN and allow them prove themselves. The House also urged the MDCN to allow students in the fifth year of their medical programmes in Ukraine to be absorbed into Medical Schools in Nigerian universities. It further urged the federal government through relevant MDAs, to discuss with Ukrainian authorities for universities to release the transcripts of years completed from year 1 to Year 6 (as applicable) for Nigerian students willing to transfer to medical schools in Nigeria or other nations. The resolutions of the lawmakers

were sequel to the adoption of a motion of urgent national importance sponsored by Hon. Tajudeen Yusuf, who sought for solution to the decision by the federal government rejecting the medical and dental degree certificates issued through online training by Medical Schools in Ukraine and other countries of the world. Moving the motion, Yusuf noted with serious concerns the plight of Nigerian youths studying medicine, dentistry and similar courses in different universities in Ukraine, whose academic pursuits had been thrown into uncertainty, confusion and threats by the MDCN. He observed that there are thousands of Nigerian youths

studying medicine and related courses in Ukrainian universities, who by the MDCN regulation would not only be affected but their academic pursuits may be thrown into serious jeopardy. According to him, by this policy, the MDCN intends to truncate the academic dreams of thousands of Nigeria medical students in Ukraine and if allowed to take effect, the overall consequences on Nigeria's educational development, image amongst comity of nations and more would be staggering. He said, "That the MDCN (the body which regulates Medical profession in Nigeria), through a statement on its Twitter handle declared that Medical and Dentistry

degree certificates obtained from Ukrainian Universities from 2020 by Nigerians will NOT be honoured by the Council until when normal academic activities resume. “Further notes that the MDCN in the same statement resolves not to recognise any online medical training (no matter how short) by Nigerian youths in Ukraine and any part of the world.” Adopting the motion, the House mandated its Committees on Education Tertiary, Health Institutions and Foreign Affairs to engage with the leadership of the MDCN, the concerned Ukrainian Students’ Parents Forum Nigeria and other relevant MDAs to find lasting solutions to the challenge.

51 of the Senate Standing Orders 2022, as amended, Bamidele recalled that the Senate President, last week, drew the attention of the chamber to media reports on the state of affairs in the Supreme Court of Nigeria. He noted that poor welfare of Judicial Officers would adversely affect the output of Judiciary in service delivery. Opeyemi said, “The Judiciary, which is the epicentre of the temple of justice, should be preserved by the Senate through appropriate legislative measures in order to safeguard this highly revered institution and prevent it from being ridiculed.” He stated that the committee, in taking steps to look into the matter as directed by the Senate President, has started the process of making arrangement to interface with relevant stakeholders both at the Bar and on the Bench. He added that the resignation of the Chief Justice of Nigeria, Muhammed, on Sunday 27th June, 2022, “will not prevent the committee from going ahead with it’s assignment in the quest to finding a probable lasting solution to the matter. "Even though Hon. Justice Tanko Muhammed has stepped down as CJN, most of the Issues raised by the Justices of the Supreme Court and other stakeholders within the Judiciary, still remain and need to be addressed urgently to prevent an eventual shut down of the Judiciary.”

TWO YEARS AFTER, NUPRC CLOSES OUT 2020 MARGINAL OILFIELDS BID ROUND crude oil production, and for the Central Bank of Nigeria (CBN) to create more dollars, adding that there was a massive intervention that was ongoing to see if the issue would be resolved by the end of July. He explained, "Community members are not the thieves, absolutely not. Everything we are doing is to incorporate the communities into the process of protecting these assets. “The National Assembly in its wisdom also included Trust Fund for the communities in the Petroleum Industry Act (PIA) so that they become parts and parcel of the system. Criminals in the Niger Delta come from all parts of the country. At these illegal refineries there are people from all works of life there. "Many of these people are completely armed and the community members cannot even report them, they are helpless because if they report them, they will come after them. “My suggestion this moment is deliver supply, make sure oil

marketers are also able to import, and there’s need to engage the CBN to create more dollars, once we do these, dollars will be allocated for the import of AGO, the will also dampen the effects of going to buy dollar in the open market. “So you can have cheaper dollar and definitely it will affect the price. Secondly, the regulatory institutions, the authority, Consumer Protection Council and NNPC, I suggest we need to sit jointly to see how arbitrage can be managed so that the end user is not completely exploited.” Speaking further, Kyari ruled out the possibility of returning to the regime of subsidising diesel and LPG. "Today countries are toying with subsidy because prices are so high because they don't think they can manage inflation associated with it," the GMD added On his part, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NPRA), Mr. Farouk Ahmed agreed with the GMD that the invasion of Ukraine by Russian

contributed to the energy crises, due to fact that Russia is a major producer. Ahmed also blamed supply disruption, the rise in the barrel of crude oil price to as high as $120 and the prevailing naira exchange rate for the energy crisis in the country. He opined that the availability of adequate foreign exchange at official rate of N410 to the dollar and the revitalisation of the nation refineries remained the panacea to the energy crisis in the country. According to him, "it is important to stress that the country has no control over the price of AGO or any other petroleum products at the international market. “However, countries all over the world are making various efforts at easing the present global high crude oil prices on domestic petroleum products prices. The following are recommended initiatives to address the current high prices of AGO and LPG in the country. "Required amount of FX for importation of the petroleum products be made available to the genuine importers at CBN

official rate; encourage establishment of more local refineries and LPG processing facilities to meet domestic demands, and increase LPG supply from major domestic producers including NLNG, BRT processing, CNL LPG FSO. Consequent upon the foregoing, an extensive consultation is required amongst key Stakeholders, towards lessening the present tension being generated by the global high oil prices." In their presentations, some of the oil marketers appealed to the lawmakers to urge the CBN to make FX available to them, in order to make the importation of petrol into the country competitive, reduce the rising cost of the product, and stop the overdependence on NNPC. Earlier in his remarks, Gaya noted that Nigerian has refining capacity but because none of the refineries were functioning was what placed the country in its sorry state. He said there was need to find solution to the high cost of diesel and cooking gas in a bid to cushion the effect on the generality of Nigerians.

WEDNESDAY JUNE 29, 2022 ˾ T H I S D AY

NEWS

Closely Monitor 2023 Elections against Manipulations, PDP Tells UN Chuks Okocha inAbuja The Peoples Democratic Party (PDP), has called for the United Nations (UN) continued support in Nigeria’s electoral system, urging it to closely monitor the 2023 general election against any form of manipulation. The party’s acting chairman, Amb. Umar Damagum, made the appeal while receiving a team of Special Representatives of the United Nations (UN) SecretaryGeneral, led by the Head of the UN Office in West Africa and the Sahel Region (UNOWAS), Ahmad Annadif, on Tuesday in Abuja. Damagum, who is the party’s Deputy National Chairman (North), said the UN and international community must play a major role in the conduct of 2023 general election in Nigeria. Urging the UN to advise INEC to ensure that the 2023 general election was credible and transparent, it said, “UN

development organisation is one of the organisations that ensures that things are done rightly and that is

why it plays important role in the conduct of 2023 general election. “We need your support to

ensure that INEC is truly an election empire. There are a lot of reforms that have taken place,

which will be put to test in this coming elections. We hope with the signing of the new Electoral

Act, those reforms will alleviate some of our fears in the coming elections.”

FIDELITY BANK PROMO WINNERS…

L-R:Head, Savings and Sales Fidelity Bank Plc, Mr. Ukpai Ibe; Deputy Director, Federal Competition and Consumer Protection Commission, Mrs. Susie Onwuka; Winners of the One Million Naira, Mr. Hililary Udekwere; Mr. Festus Adione; Regional Bank Head, Fidelity Bank Plc, Festac, Mr. Paschal Nzeribe, and representative of National Lottery Regulatory Commission, Mrs. Odo Chinyere, at the Fidelity Bank Get Alert in Millions Season 5 Promo monthly prize presentation in Lagos… yesterday ETOP UKUTT

Stakeholders Urge National NLC, TUC Express Support for Peter Obi’s Presidential Bid that they would campaign NLC President, Mr. Ayuba labour to fully participate in Assembly to Pass Bill on Senior Onyebuchi EzigboinAbuja Obi and do everything within their Wabba, described Obi as one the campaign process to ensure presidential bid of the powers to ensure that Labour of the finest Nigerian and the that the candidate whose mantra Secondary Education Commission The Labour Party candidate, Peter Party wins the forthcoming 2023 first presidential candidate of would make life better for his

Kuni Tyessi in Abuja

Stakeholders in the education sector have called on the National Assembly to reconsider the resuscitation of the National Senior Secondary Education Commission (NSSEC) Act which was described as inoperative since its enactment in 1999, and pleaded for the passage of the bill. This was made known in the stakeholders’ submissions to the Senate Committee on Education during a public hearing in Abuja recently. In a statement, which was signed by its Head of

Media and Public Relations, Fatima Bappare, the Executive Secretary of the commission, Prof. Benjamin Abakpa, stated that the bill seeks to repeal the National Secondary Education Commission Act N0 47 of 1999 LFN CAP N73 2004 and enact the name: National Senior Secondary Education Commission (NSSEC). Abakpa stated further that: “The bill seek to infuse and expand the functions of the commission in line with the present reality in the country and also seek to stream line the composition and functions of the state Senior Secondary Education Board.”

Obi yesterday got a big boost as the two labour centres in the country, the Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC), declared their support for him The two labour centres assured

presidential election. They declared their support yesterday in a separate speeches made by their presidents in Abuja, at the 10th anniversary lecture in honour of Late Pascal Bayau. Delivering his speech, the

Labour Party to be recognised by the labour centres. Furthermore, he stressed that the NLC would fully mobilise to ensure the victory of the party in the 2023 general elections. Wabba said it became pertinent for the organised

members and Nigerians at large wins the election. According to him, the union had realised that strikes and protests alone cannot change the narratives in Nigeria, especially as it concerns workers’ welfare and fair treatment to the working people.

Rivers Court Grants N20m Bail to Farah Dagogo amid Tight Security Blessing Ibunge inPortHarcourt A Rivers State High Court in Port Harcourt yesterday granted bail to the embattled National Assembly member, Hon. Farah Dagogo, after spending 62 days in prison custody. Dagogo, who represents Degema/Bonny federal constituency, is standing trial on a two-count of conspiracy and

cultism, filed by the Rivers State Government. The trial Judge, Justice Chinwedu Nworgu, in his ruling on the bail application by the defendant counsel, Cosmos Enweluzo, granted the lawmaker bail in the tune of N20million, and one surety, who must deposit a passport photograph alongside the defendant. The Judge also directed that

the surety must be an indigene of Rivers State, who owes a landed property within Port Harcourt valued at nothing less than N20million. Justice Nworgu also ruled that Dagogo must not be allowed to travel outside the country without the court knowledge, and should deposit his international passport with the court. Speaking to journalists outside

the courtroom, counsel for Farah Dagogo, Cosmos Enweluzo, expressed satisfaction as his client has been granted bail despite the enormous condition as ruled by the court. On his part, the prosecution counsel, Chidi Ekeh, said they were not worried over the bail granted to the defendant, but would be happy if the defendant continues to appear in court to face his trial.

Nigeria Info Organises Nationwide Round Table Conference Tension As Soldiers Allegedly Kill 27-year-old Man in Delta Nigeria’s leading talk station, the aim of addressing peculiar Nigeria Info, has announced the first edition of its nationwide Round Table Conference (RTC). This is a bid to champion conversations around the socioeconomic and political state of the nation while also proffering sustainable solutions that will address the already identified problems plaguing the overall growth and development of the nation. The RTC, which is scheduled to hold between June 28 and June 30, 2022, is a platform designed to feature all of Nigeria Info’s presenters across Lagos State, Rivers State, and Abuja with

issues of national concern that has happened within the first half of this year. Speaking on unveiling the first national edition of the RTC, the Group Brand Manager for Nigeria Info, Sandra Ezekwesili, stated that this nationwide broadcast seeks to bring pressing national issues to the front burner in order to drive solution-based conversations. “We, as a leading broadcast brand, understand the critical role we play in shaping the perceptions of the masses through the news content we churn out via our broadcasts on a daily basis across the nation.”

Tricycle Riders Protest Exploitation in Adamawa Daji Sani in Yola Tricycle riders protested over exploitation in the name of taxes in Adamawa state. The action carried out by Tricycle riders paralysed business activities in the state capital over the numerous dues being paid by them. The riders forced business owners to shut down for fear of vandalism. The protesters barricaded all the four roads linking the Mubi roundabout causing traffic jam

in Jimeta modern market. Usman lbrahim one of the leaders of the tricycle riders said: “We are protesting because of the charges we are being subjected to pay every day” “We pay N100 in the morning and by noon, they ask you to pay another N100. More worrisome is that if you ride into Yola South from Yola North, you pay another money even when you can hardly differentiate between the two local government areas,” he said.

Police kill driver, motor boy in Ogun

SylvesterIdowuinWarriandJames SowoleinAbeokuta Palpable tension enveloped Ogulagha community in Burutu Local Government Area of Delta State yesterday as soldiers attached to the Forcados terminal allegedly killed a 27-year-old man identified as Endurance Oweiye Kalaepele. In a similar development, confusion ensued yesterday in

Itori area of Abeokuta-SangoLagos Expressway in Ewekoro Local Government Area of Ogun State, following the killing of a truck driver and his motor boy by yet-to-be-identified policemen. The incident led to protest by youths of Itori who barricaded the highway and disrupted vehicular movement on the busy road. THISDAYgathered that the young man killed in Burutu was shot twice

at closed range by the soldiers at about 10 p.m. on Monday. Sources disclosed that the deceased was among six others who were returning from snail hunting in the bush close to the terminals when the incident occurred. The Youth President of Ogulagha Community,Mr.ThankGodIyaragba, has decried the incident, noting that the youths of the area were angry and wanted to resort to violence

but for the quick intervention of the elders and leaders of community. Iyaragba explained that at about 10 p.m. on Monday, six of the community boys went to the bush behind Forcadoes Terminal, the Pipeline bush, for snail picking, but were intercepted on their way back by the military men adding that one of the boys, Endurance, tried to run out of fear but was shot twice at close range.

YabaTech Signs MoA with Bionomics to Boost Security on Campus Funmi Ogundare

Yaba College of Technology (YabaTech) yesterday signed a Memorandum of Agreement ( MoA) with Bionomics, an innovative technology company to enhance the security architecture in the college. The organisation would be installing 300 Closed Circuit

TV (CCTV) cameras around the campus with 75 poles which would be fixed with LED lights. Speaking with journalists at a brief ceremony held at the college’s Council’s Chambers, the Rector, Mr. Femi Omokungbe said the MoA would go a long way in enhancing security, adding

that the LED lights would also help monitor the perimeter of the college. “The LED will serve as digital marketing advertisement to recoup the money they have invested.” He stated that security had been a challenge in the country, adding that the college wasn’t an exception.

“If we can have a situation to upgrade the security architecture of the college, we will welcome that,” he added. He said the project would not extend beyond its Yaba campus, adding that the initiative was mooted two months ago when the organisation approached the management on it.

NCDC: Nigeria Records 288 Monkey Pox Cases, Nine Deaths in Five Years Onyebuchi EzigboinAbuja

The Nigeria Centre for Disease Control (NCDC) has revealed that the country has so far recorded 288 confirmed cases of Monkey Pox since its first case in September 2017. It said out of the 716 suspected cases, there have been 288 confirmed cases of the disease

(40.2 percent) In addition, the NCDC said from September 2017 to June 26th, 2022, a total of nine deaths had been recorded in Nigeria. According to the latest epidiomological report on Monkey Pox disease infection issued yesterday by the centre, the confirmed cases were from

25 states - Rivers (57), Bayelsa (48), Lagos (40), Delta (34), Cross River (18), Edo (14), Imo (10), Akwa Ibom (7), Oyo (7), FCT (10), Plateau (7), Adamawa (6), Enugu (4), Abia (4), Nasarawa (5), Benue (2), Anambra (2), Ekiti (2), Kano (2), Niger (2), Ogun (2), Taraba (2), Ebonyi (1), Ondo (1) and Katsina (1).

It said the nine deaths which amounted to 3.1 per cent were recorded in six states - Lagos (3), Edo (2), Imo (1), Cross River (1), FCT (1) and Rivers (1). The centre said the one death was recorded in a 40-year old man with co-morbidity that was receiving immune-suppressive treatment. `

WEDNESDAY JUNE 29, 2022 ˾ T H I S D AY

NEWSXTRA

Governor Matawalle: Why We Directed Citizens to Acquire Guns Gov. Bello Matawalle of Zamfara has said that the state gsovernment relied on an extant legislation to direct residents to acquire weapons to defend themselves. This is contained in a statement issued by the Chief Press Secretary to the Governor, Jamilu Magaji, and made available to newsmen yesterday. Magaji stated that the governor made the remark while inaugurating some security committees in Gusau. The statement explained that the governor’s directive was part of the administration’s efforts to tackle protracted security challenges in the state. It added that the State Government was aware of the misgivings expressed in some quarters regarding the new measure. It noted that the measure was meant “to encourage the communities suffering almost daily from the inhuman aggressions from the bandits to acquire firearms to defend their communities. “Self-defence is a natural instinct and has always been part of human survival strategy. “As those entrusted with the safety of lives and property

of the people, we will do everything possible to uphold this responsibility within the ambit of the law. “We are also aware that the security forces are doing their best to combat this formidable

challenge. “Their efforts are, however, hampered by the lack of adequate modern warfare equipment and the dearth of personnel. “Our decision to mobilise people to secure their communities

is, therefore, for the people to complement the efforts of the conventional security forces in dealing with banditry and fishing out informants “The acquisition and usage of firearms by the public, who

desire to do so, would be governed by the Nigeria Firearms Act,” he further stated. The statement added that the state government had explored all options to address the issue to no avail.

It explained that apart from dialogue, reconciliation and disarmament, the government also had regular engagement with Federal Government and neighbouring states, including the Nigerien authorities.

TRAINING ON AIDS PREVENTION...

L-R: Participant, Miss Opara Blessing; Chief Executive Oﬃcer, Lagos State AIDS Control Agency (LSACA), Dr. Monsurat Adeleke; Participant, Mr. Junaid Adebowale; Sign Language Interpreter, Temitope Abiodun, at the HIV prevention training for the hearing and visually-impaired community in Lagos…recently ETOP UKUTT

Azubogu: I Saved Anambra Military Operations ‘ll Continue in Warring from N100m Monthly Loss C’River Communities, Says Ayade to Ghost Workers, Schools Bassey Inyang in Calabar

David-Chyddy ElekeinAwka The member representing Nnewi North, Nnewi South, Ekwusigo Federal Constituency, Hon. Chris Azubogu, has narrated how he helped to stop N100 million monthly losses in Anambra State. Azubogu, who is also a senatorial candidate, said that before 2007, Anambra State was losing the humongous amount to ghost workers and ghost schools monthly. He said that used to exist only on paper while funds mapped out for them and staff of such

schools was pocketed by certain individuals. Azubogu said: “Between 1999 and 2003, Anambra State civil servants severally went on strike; at a point, schools were closed and students were at home for over one year. “As a young Tech Entrepreneur running an IT firm in Port Harcourt, Rivers State, and specialising on the use of IT to solve private and public organisational problems, I was so concerned about the unpalatable situation in my state and thinking of how to use my talent and IT solutions to solve the problem.”

Bandits Invade Farm, Rustle 200 Cows, 180 Rams in Sokoto Onuminya Innocent In Sokoto Armed bandits invaded Adiya farm located behind Sultan Sa’ad Abubakar 111 international airport , Sokoto , carting away no fewer than 200 cows and 180 rams early hours of yesterday. The farm which is 10 kilometres away from Sokoto metropolis is owed by a business mogul Dr. Abdullahi S D Adiya . Addressing newsmen and security agencies at the site, Adiya said he left the farm around 12:30am yesterday morning but received a destress

call by one of his staff members that armed bandits invaded the farm and went away with animals. He lamented that what he laboured for many years have been taken away by criminals. He noted that some people have paid for some of the rams, cows in preparation for the forth coming Sallah celebration. He further disclosed that the farm has about 100 workers, stressing that the criminals meant to cripple his business and take some people off their jobs.

The Cross River State Governor, Professor Ben Ayade, has said that soldiers sent on troubleshooting mission between the warring communities of Nko and Oyadama in Yakurr and Obubra Local Government Areas, respectively, will sustain their operations up until those who shot at six of the soldiers

are apprehended. Ayade stated this yesterday in Calabar in the first official reaction of the state government to the communal crisis between both communities. A press release to this effect signed by the Deputy Chief Press Secretary to Governor, Mr. Linus Obogo, also stated that Ayade has ordered the dethronement and de-

certification of the Obol Lopon Nko, and the Clan Head of Oyadama. The release stated that the ownership of the disputed land has been revoked and taken over by the state government for overriding public interest. “Additionally, government has ordered the sustenance of army operation in Nko

community until those behind the shooting of the six military personnel are produced or fished out,” the release stated. Nko community has been deserted following allegation that soldiers have invaded the community, a development that has resulted in the death of some persons and the burning of residential and commercial buildings and other properties.

Gunmen Attack Ebonyi Communities, Kill Three Persons Suspected gunmen attacked Ngbo community in Ohaukwu Local Government Area of Ebonyi, killed three persons and destroyed properties believed to worth millions of naira. Spokesman of the State Police command, SP Chris Anyanwu, told the News

Agency of Nigeria (NAN) in Abakaliki yesterday that the command was aware of the incident. According to Anyanwu, the incident occurred at Ojiogu and Okpochiri Ukwagba Ngbo communities on Monday and `few persons` have been

reported dead. “Yes, we have some details. It happened on Monday. Two houses and one shop were burnt. Two motorcycles and one tricycle were also burnt by the hoodlums. “The DPO in the area said there are few dead bodies seen

on the ground. The police are working round the clock to ensure the restoration of peace in the area,” the Police spokesman said. Executive Chairman, Ohaukwu Local Government Area, Mr Clement Odah, condemned the incident.

Aregbesola Advocates 12-month Timeline for Dispensation of Justice on Criminal Cases Michael Olugbode in Abuja The Minister of Interior, Rauf Aregbesola, has called on the judicial arm of government to support the ongoing reform in the Nigeria Correctional Service (NCoS) through timely conclusion of criminal cases. Aregbesola specifically advocated a 12-month timeline for dispensation of justice on criminal cases brought to the court. The minister spoke yesterday at a two-day Controller General of Corrections’ Retreat held in

Sokoto, Sokoto State. According to Aregbesola, the judiciary should ensure that from the arrest of suspects to conclusion of their cases in court, the maximum time spent on their trial should not be more than 12-month. He called on personnel of the correctional service to begin the advocacy for a year dispensation of justice on criminal cases. Aregbesola, while stating that he was a victim of delay in justice delivery, recalled that his case on the restoration of his stolen mandate in 2007

activated the judiciary to peg the conclusion of election cases to a year. The former governor of Osun State said timely dispensation of justice on criminal cases will not only reduce the number of awaiting trial inmates and decongest the correctional facilities but will also save the service a lot of money. Speaking on the condition of correctional facilities in the country, Aregbesola said that beyond the law, attitudinal change is required from the society and personnel of Nigeria

Correctional Service to drive the needed reform. He said majority members of the society do not have correct understanding of what the correction centres should be, noting that this is responsible for some negative comments on some issues involving activities of the NCos personnel. Aregbesola, who decried what he described as unbefitting status of some of the correctional facilities, urged the NCoS personnel to mobilise community efforts to change the facial appearance of their facilities.

The Peoples Democratic Party (PDP) Senatorial candidate for Ogun Central, Ogun State, Chief Olumide Aderinokun, has called on the state Governor, Dapo Abiodun, to prioritise and pay attention to the grievances of the state workers. Reacting to the workers’ resolution to embark on an indefinite strike from yesterday, Aderinokun noted that he observed that the state government is making life harder for public employees

“that has not been reviewed in years.” The organised labour held a peaceful gathering at the Arcade ground, Abeokuta, last Monday which had leaders of the National Labour Congress (NLC), Trade Union Congress (TUC) and Joint Negotiating Committee (JNC) present. The gathering ended with a decision to start an indefinite strike which will leave all public buildings, including schools, hospitals among others closed. Worried by the decaying

State, Aderinokun admonished Abiodun-led government to honour the Memorandum of Understanding (MoU) signed with the organised Labour in 2020. According to the PDP chieftain, “A government that prioritises the people’s needs would have averted this industrial action, because it is the least action the people deserve at this time of harsh economic circumstances. “As a matter of fact, no one will question the workers for demanding the full payment of

reality we are facing in the country. “Ogun State workers deserve better welfare and attention, just like on Monday when no government official answered their call at the Arcade ground. Civil servants are key players in the socio-economic development of the state. “The government needs to honour the agreement they signed with organised Labour in September 2020. It is that simple, and a great leader should care for his workforce.”

Cooperate to End Fuel Scarcity, FG, Oil Marketers Urged Ogun Workers are Right to Demand their Entitlements, Says PDP Chieftain Chairman, Skymark Energy to be patriotic and support Sunday Okobi by deducting from their salaries public service system in Ogun their salaries with the current and Power Limited, Mr Muhammad Saleh-Hassan, has urged oil marketers and other stakeholders in the energy sector, to cooperate with the federal government in order to end fuel scarcity in Nigeria. The energy stakeholder, who made the call in Abuja , stressed that oil marketers had a major role to play in ending recurring fuel scarcity in the country. Saleh-Hassan noted that the energy crisis appeared to have defied government’s efforts, and urged oil marketers

government by shunning sharp practices and putting the people’s interests above high profit-making targets. ”In this circumstance that we have found ourselves, the marketers and other stakeholders should be patriotic by supporting government in the interest of the masses. “A critical situation like this is not a time that we should be thinking of our personal interests and gains. We should also think of the interests of the nation and the people.

WEDNESDAY, ͺ΁˜ ͺ͸ͺͺ ˾ T H I S D AY

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£45m Jesus Now a Gunner, Through with Arsenal Medical

Gabriel Jesus had a medical at Arsenal last night before a £45million move away from Manchester City. The 25-year-old Brazil forward has been wanted by a number of clubs, both in the Premier League and in Europe, but has opted to

join the Gunners. Jesus has made 236 appearances and scored 95 goals for City since moving from Palmeiras in January 2017. He has won four Premier League titles during his time at Etihad Stadium, plus three League

TRANSFER NEWS Cups and the FA Cup. His playing time next season was likely to be limited after City signed Norway forward Erling Haaland from Borussia Dortmund.

Jesus previously worked with Arsenal Manager, Mikel Arteta, during the latter's time as a coach at City. The Spaniard is trying to

boost his side's attacking options following the departures of forwards Alexandre Lacazette and Pierre-Emerick Aubameyang on free transfers. The club have already signed midfielder Fabio Vieira from Porto for £34.2million this summer and

have also been linked with Leeds United playmaker Raphinha. Arsenal finished fifth in the Premier League last season and narrowly missed out on qualifying for the Champions League to north London rivals Tottenham Hotspur.

NFF Appoints Falode as Falcons Chef de Mission for Morocco 2022 the organisation and advancement The President of the Nigeria Football Federation (NFF) Amaju Pinnick, has officially announced the appointment of NFF board member and the Chairperson of the Nigeria Women Football League, Aisha Falode, as the Chef De Mission/ Leader of Delegation for the Super Falcons trip to Morocco for the 2022 CAF African Women Cup of Nations (WAFCON). Pinnick, noted that Falode was the Leader of Delegation to the Ghana 2018 Women's Nations Cup which Nigeria won, and she has been found worthy to help motivate Nigeria to yet another victorious edition of the Women's Nations Cup especially as the Super Falcons team is going for the 10th title of the Nations Cup. "She, in her capacity as Leader of Delegation can ask anybody not part of the team to leave the team's camp. She is the eye of the Nigerian government for the team in Morocco. "She is going to be with the team from the beginning to the end of the tournament. Ofcourse, you know her antecedent, she was in CAF for 10 years even before I came into CAF. She has been able to rebuild and rebrand the women league in Nigeria, Africa and indeed in the world as one of the best. "I believe strongly that in the nearest future, she is going to be rewarded for changing the fortune of women's football league, by CAF and FIFA. And also for her ability and leadership capacity in

of women's football in Africa." Falode in her response promised to ensure total harmony in the team's camp as Leader of Delegation, with the aim of encouraging the Super Falcons win their 10th title and also qualify for the World Cup in Japan among other accolades at Morocco 2022 "Nigeria, as defending champions, we are going to Morocco with the trophy and by hard work, dedication and grace of God, we shall come back with the trophy and the 10th title after playing in Morocco as one family. With this spirit, the team will surely play as one unit, one family, with one love, the chemistry to win all games and the spirit of Nigeria,” she concluded.

Dare Hosts Victorious Eaglets, Splashes N2m on Squad Praises NFF for implementing agreed principles on youth football devt Olawale Ajimotokan in Abuja

Aisha Falode...Falcons’ Chef de Mission to Morocco

Amstel Malta Ultra Charges Falcons to Go for Glory Amstel Malta Ultra, the official Malt drink of the Super Falcons has charged the nine-time African champions to go all out for glory at the 12th Women Africa Cup of Nations taking place in Morocco between July 2nd and 23rd. The Super Falcons arrived Rabat, Morocco on Monday in high spirits. Amstel Malta Ultra believes Coach Randy Waldrum and his Ladies are capable of making the country proud. Amstel Malta Ultra from the stable of Nigerian Breweries Plc has been a keen supporter of the Nigerian National Women's team since February of 2018 and would be doing more as the team begins her campaign in Morocco next Monday. Brand Manager Amstel Malta, Maire Abia-Bassey, said the Super Falcons have shown great promise with their unrelenting work ethics and while she admits they would face a stern test in Morocco, she remains positive they would conquer the continent once more. "We are very proud to be one of the few brands that has thought it wise to support our ladies the best way we can, we are backing them to go all the way not just to qualify for the World Cup but return with the trophy again" Maire stated. The Super Falcons will

Former Manchester City player, Gabriel Jesus (right) with Arsenal Sporting Director, Edu, shortly after completing his medical at the North London club...yesterday

confront South Africa’s Banyana Banyana in their first match of the tournament on Monday, 4th July before other games against Botswana (7th July) and Burundi (10th July). All four semi-finalists at the championship in Morocco will qualify to represent Africa at the 2023 FIFA Women’s World Cup in Australia and New Zealand.

Minister of Youth and Sports and Youth Development Minister, Chief Sunday Dare, has heaped plaudits on the leadership of Nigeria Football Federation for making merit and competence its watchwords in selection of coaches for the agegrade national teams, as agreed with the Ministry, and which has started to bear fruits with excellent performances at U20 and U17 levels of recent. Dare made this pronouncement yesterday while hosting players and officials of the Golden Eaglets to a reception following their victory at the WAFU B U17 Championship in Cape Coast, Ghana. “I want to give credit to the NFF for implementing the cardinal principles that we agreed at meetings on youth football development. Now, we can see that the emphasis on merit and competence has started to bear fruits. The U17 and U20 girls have qualified for their FIFA World Cup competitions with aplomb and the U17 and U20 boys have won

WAFU B U17 regional tournaments in emphatic manner, with promises of what we can look forward to at their African championships next year. “Our hard focus on grassroots development in all sports will continue. I congratulate the players and coaches of the Golden Eaglets for winning so convincingly in Ghana and I want to charge you to remain focused for the continental championship in order to get the ticket to the World Cup. For you players, you must stay humble, hardworking and obedient to

your coaches.” On his part, the Permanent Secretary in the Ministry, Alhaji Ismaila Abubakar, warned the players against allowing distractions from all manner of agents and player-managers, and rather be dedicated to improving their craft with temperance, endurance and a level head. Abubakar also announced a cash reward of N2million (Two Million Naira)for the team owing to their exemplary performance at the tournament. NFF General Secretary, Dr Mohammed Sanusi, introduced each player and team official

for special handshake with the Minister, stating that Head Coach Nduka Ugbade was the captain of the first Nigerian team to win the FIFA Cadet World Cup, and was also assistant coach to Manu Garba when Nigeria triumphed in the United Arab Emirates in 2013. “He is also a global consultant on football science.” Ugbade hailed the event as “a special occasion” and said the team is encouraged to do its utmost to continue to bring honour to the nation, first by putting up a stellar outing at the U17 AFCON in Algeria and then going on to hold its own at the FIFA World Cup finals in Peru.

HiFL 2022: UAM Tillers, DELSU Titans Qualify for Round of 16 The maiden champion of the Higher Institutions Football League (HiFL), UAM Tillers from the University of Makurdi has qualified for the round of 16 of the 2022 season. The Tillers will be joined by 2019 and 2021 quarter finalist UNILORIN Warriors from the University of Ilorin and the LASU Blazers from the Lagos State University. DELSU Titans from the Delta State University and UNIPORT Sharks from the University of Port Harcourt will be staging a comeback after missing out from the round of 16 since their first appearance in 2018. Speaking on the games, the Chief Operating Officer at Pace Sports and Entertainment Marketing Limited,

Goodness Onyejiaku said all the qualified schools have demonstrated their commitment to growing the league despite the challenges. "We are pleased that HiFL has now broken a few records for the calibre of players the league is putting forth. Scouts from all across the nation are now watching games more closely to spot talent, especially for kids who have decided to pursue a career in football. We truly appreciate the support of our sponsors, particularly StanbicIBTC, Bold and the Lagos State Inland Revenue Services. We are also quite pleased with our partner, the Nigeria University Games Association (NUGA) which has ensured that we get the games going" Onyejiaku said.

Sports Minister, Chief Sunday Dare (middle), ﬂanked by other dignitaries, players and oﬃcials of the Golden Eaglets during the reception for the team at the Moshood Abiola Stadium in Abuja...yesterday

Ahmed Musa Lifts 5,000 Widows, Less Privileged Women with N100m A member of Musa Ahmed’s individuals to support the poor Kunle Adewale In continuation of his policy to lift less privileged in the society, Super Eagles Captain, Ahmed Musa, has donated N100million to 5,000 widows and other less previleged women in Plateau State. The Fatih Karagumruk of Turkish Super Lig made the donation as part of his philanthropic gesture aimed at cushioning the hardship being faced by the beneficiaries.

media team, Williams Gyang, made the disclosure in Jos yesterday. Gyang explained that the beneficiaries cut across various religions, saying that hunger, poverty and squalor knew no tribe or religion. ”The economic hardship that people are facing is huge and this is my little way of showing love and care for widows and less privileged persons in our society. ”So, I want to call on spirited

ones in the society,” Ahmed Musa was quoted in an official statement on the donation. One of the beneficiaries, Maryam Abdullahi, thanked the footballer for his gesture and described him as “God sent.” “We are finding it difficult to feed our families because of the high cost of living. ”This money will go a long way to alleviate our sufferings and boost our petty businesses,” she said.

Wednesday, June 29, 2022

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PDP to Abdullahi Adamu

“It is pertinent to remind Abdullahi Adamu that election is not warfare. Directing his party members to ‘go down to the trenches’, in the Osun State governorship election and brazenly asserting zero tolerance for election defeat cannot ﬁnd accommodation within the ambits of the law. It is distressing that the APC has become so chaotic in the pursuit of its territorial occupation agenda…” --- PDP National Publicity Secretary, Debo Ologunagba, accusing the APC Chairman of inciting the Osun electorate.

OKEYIKECHUKWU EDIFYING ELUCIDATIONS

okey.ikechukwu@thisdaylive.com

As Emeﬁele Has Been Saying T

here are three broad scenarios in the economics of survival and avoidable dependency that the Igbo man understands and lives by. The first is that whoever develops a taste for what grows in another man’s farm should procure same legitimately and nurture it for himself, through diligence and patient effort. The second is that the man with a badly managed taste for what grows in the farm of another, but who does not wish to work for it, is in danger of eventually becoming a thief. The third is that if you insist on eating what is produced by others as often as possible, and you are not producing and exchanging things of commensurate value, you will always be in the debt of those who produce what you are crazy about. The above, in a nutshell, even if couched in characteristic traditional Igbo common sense, is what the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has been saying for a long time now about the relationship between our national productivity, consumption profile and the value of the Naira. As we consume more than we produce, import more than we export, buy more than we sell, harvest less than we plant because of security and other challenges, and run a monocultural economy amidst great possibilities of diversification, our economy grows ever weaker. Thus shall it remain, no matter the ingenuity and efforts of its central monetary and fiscal regulatory mechanisms, until the right things are done across several frontiers. Yes, the CBN is doing quite a bit on several fronts but, as Emefiele himself said at the maiden bi-annual non-oil export summit, last week: Monetary policy alone cannot solve our FX challenges or, single-handed, reflate the Nigerian economy. Hear him: “These problems call for urgent design and steadfast implementation of other supportive, structural, and complementary policies that are broad based, coordinated and focused on complementing the work of the monetary authority.” The impact of the COVID-19 pandemic on global logistic value chains and local security challenges are real. So is the urgent need for a more diversified economy; and monetary policy alone simply cannot carry the full weight of what it takes to navigate the current challenges of the Nigerian state, especially against the background of its existing political economy. Only a cocktail of strategies that can help the country earn more stable and sustainable inflows of foreign exchange can make a difference today. The fact that the nation recorded a significant increase in non-oil export repatriation within a short period of implementing the Non-Oil FX Rebate Scheme is a pointer to what is possible. This does not remove the fact that Emefiele’s call is not new. What is perhaps of desperate concern today is its urgency. The stridency of his calls is driven by the fact that we now have a larger cocktail of economy-impeding factors than at any other time in our national life. Besides the fact that the person who produces less has less to sell, you have the unique situation where farms are raided by marauders; such that there is actually nothing to harvest and, therefore, nothing whatsoever to sell. Thus inflation, joblessness and crime walk the land. The central narrative of Mahatma Gandhi to his people was that they create jobs in order countries when they patronize only foreign-made goods. It took some time for the message to sink in, but it eventually did. That was how India’s cotton farms and textile mills roared back to life. That was

Emeﬁele how unemployment declined, local earnings grew, family wealth multiplied, overall national income blossomed and India’s reckoning in international trade rose. The story is the same for all nations that have risen out of dreary economic waters in the last fifty years. It can be Nigeria’s story, also. Tata Motors was a laughing stock when it started. Remember what it was like for that company 60 years ago? Look at it today. We cannot continue on the path of low productivity, high consumption of what we do not produce and unbelievable internal security problems, retain a monocultural economy and then expect (and even demand) that the national currency should magically gain in value. What did we sell two weeks ago to earn the amount of dollars deployed in the party primaries of our political parties? Has the dollar come down from that new high yet? The national assembly cannot decree that the dollar should drop in value. A presidential fiat will be as useless in that regard as well. Expressions of anger, and even calls for the head of the CBN governor, will not remove or address the structural, institutional and other challenges that are rooted in the political economy of the Nigerian State as it exists today. Perhaps a new CBN governor will set up his own armed forces to protect farmlands, and farmers from bandits and herders? Oh, no, I get it: he will announce a new value for the Naira and make sure everyone complies with the directive? Let us look at recent measures taken by the bank to: (1) Raise

the cost of borrowing so we will borrow a bit less and (2) increase the interest we get from savings. The idea is to make people save more. It is also intended to make people invest more. This means more pressure on the cashflows, as higher debt service obligations will mount. And, wait for this, equity investors will be more demanding because the cost of capital will shoot through the sky. With higher costs of borrowing, and the consequent increased financial risk for companies, everyone will be careful where he puts his money. So, logically speaking, it should all reduce how much money is in circulation. This is expected to impact inflation and lead to an overall brighter economic outlook. That is, logically speaking. The real issue on the table, however, is that we simply must wake up to the fact that expansion of the earning capacity of the economy, through wider commodity options, must compliment the best monetary, or other, policies anyone can design. Out national road infrastructure must come back to motorable life. The insecurity in the land does not conduce to any form of productivity or developmental initiatives. The power sector must be rescued from its current state of “powerlessness”. We need realistic and sustainable investments in education, health and other social schemes, to save the Nigerian state today. As Emefiele said: “These problems call for urgent design and steadfast implementation of other supportive, structural, and complementary policies that are broad based, coordinated and focused on

complementing the work of the monetary authority.” As was said on this page seven months ago, under the title: “What the CBN Cannot Do”: “When financial outflows into the agricultural sector do not yield the expected returns due to insecurity, the projected gains in terms of food availability, food security and forex earnings from food exports go up in smoke. Thus a “silo” conversation on diversification of the national economy, especially with agriculture in focus, which does not also simultaneously address security and national road and transport infrastructure is an exercise in self-delusion. You do not drive foreign exchange earnings … when farmers cannot go to their farms.” And it is not the business of the CBN to provide national security, or protect local farmers. While it is true that the CBN’s Anchor Borrowers Programme, among others, has created millions of jobs, taken the youths of many communities, especially rice farming communities, off the crime path and rescued many local economies, it is also true that Nigerians need to better understand what the issues really are. As was said here, back then: “Only economy-reflating and socially impactful efforts, as seen in such initiatives, in addition to consuming what we produce and producing what we consume, will give us the prospect of bringing up the value of the National Currency and keeping it up”. A nation with a predominantly consumption-driven economy cannot suddenly catapult itself into the Neverland of foreign exchange El Dorado. You make money from what you produce and sell, or from what you can do and be paid for. You also buy with what you have earned from either goods or services you offered. You get paid nothing when you produce nothing. You spend more than you earn when you produce and sell far less than you buy. The person who produces nothing and earns nothing, but buys a lot, must be getting the money for his purchases from somewhere. If in addition to producing nothings the person also has some savings, then he must be depleting his savings. But what if this person also has no saving, in addition to producing nothing, that means he must be borrowing. And to borrow is to get credit for present needs, with payment deferred to a future date, right? Well, that is our lot in Nigeria today. And we are still borrowing! We shall end on the very conclusions drawn and presented by a Non-Partisan RoundTable on pressing national issues, which was organized by Development Specs Academy, and which held on May 19 in Abuja: “(1) Increased productivity is a critical success factor for any nation that wants a strong and stable national currency, (2) Consumption patterns and product preferences have a direct impact on a nation’s Balance of trade, especially with regards to deficits, (3) The Nigerian State, and the citizenry, must consume mostly what they produce and produce mostly what they consume, or retain some of the economic debilities on the table at the moment, (4) the public is only interested in measuring the value of every economic intervention against the background of impact, (5) The operating environment, in our own case an environment where insecurity threatens national productivity in the area of agriculture and food security, can undermine the best policy initiatives and economic intervention programmes.” The above conclusions are valid. They reinforce, and reiterate, Emefiele’s repeated calls. Let us pay attention to the things that really matter.

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