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FG Signs $1.5bn Prepayment Deal with Oil Traders Emmanuel Addeh in Abuja with agency reports The federal government has signed a $1.5 billion prepayment deal with Standard Chartered and backed by oil traders Vitol

Group and Matrix Energy. The Nigerian National Petroleum Corporation (NNPC) signed on behalf of the federal government.

A report yesterday by Reuters, quoting persons close to the matter, said it would

be the first such agreement since the COVID-19 pandemic, which would see the country supply a certain quantity of prepaid barrels of oil over time.

The financing package, called ‘Project Eagle,' was also backed by African Export-

Import Bank (Afrexim) and United Bank for Africa (UBA).

Vitol and Matrix will each get 15,000 barrels per day (bpd) of crude as repayment over five years, starting in August with Nigeria’s crude production nearly two million

bpd, minus a recent quota cut agreed by OPEC members.

Nigerian trader, Matrix confirmed its participation in the deal, while Vitol, the world’s biggest independent oil trader declined to comment, Reuters reported.

A spokesman for Standard Chartered declined to comment and Afrexim did not have an immediate comment.

UBA and the NNPC also did not immediately respond to Continued on page 10

Jim Ovia Proffers Ways to Build Sustainable Brands... Page 8 Wednesday 29 July, 2020 Vol 25. No 9242. Price: N250

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Buhari Hails Independent Panel’s Affirmation of Adesina’s Innocence Clearance paves way for second term Omololu Ogunmade in Abuja and Dike Onwuamaeze in Lagos President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, got his

path to a second term of office smoothened yesterday as the independent panel instituted to review his clearance of alleged corrupt practices by the bank’s Ethics Committee affirmed his innocence.

The panel’s report, which became public, early yesterday morning, received an instant endorsement from President Muhammadu Buhari, who said it was an affirmation of the integrity of Nigeria’s

candidate for the headship of the continental development agency.

A petition by anonymous staff of the bank had earlier in the year accused Adesina of corrupt practices in a clear

move to block his second term aspiration. He is the sole contestant in the presidential poll scheduled for May, which now holds in August.

He was, however, cleared of all allegations by the

bank's Ethics Committee.

But the United States, a shareholder in the bank, expressed reservations about the outcome of the committee Continued on page 10

Mamman Daura Seeks Competence over Zoning Denies dictating public policy to president John Shiklam in Kaduna Reputed to be the head of the kitchen cabinet of the President Muhammadu Buhari administration, the president’s nephew, Malam Mamman Daura, yesterday spoke on the vexed issue of zoning and rotation of the nation’s presidency, arguing that competence, not geography should determine the next president of Nigeria in 2023.

“This turn-by-turn, it was done once, it was done twice, and it was done thrice… It is better for this country to be one…it should be for the most competent and not for someone who comes from somewhere,” he told the BBC Hausa Service in an interview.

Dismissing the clamour for power shift, he said it was time

for the country to unite and go for the most competent person to lead the nation.

According to him, since Nigerians have tried the rotational presidency about thrice already, it would be better to go for the most qualified candidate in 2023 irrespective of whether he comes from the North or the South.

This, he said, would be better for the nation’s unity.

He also spoke about his relationship with his uncle, saying contrary to the dominant view in the public domain, he could not possibly dictate public policy to the president.

“Yes, I do visit him to greet him; I do give him advice, but Continued on page 10

No Sacred Cow in Anti-graft War, FG Insists... Page 5

WE SHARE YOUR PAIN...

Kogi State Governor, Alhaji Yahaya Bello (left), and Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, during Bello’s condolence visit to AbdulRazaq in Ilorin…yesterday

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NEWS No Sacred Cow in Anti-graft War, FG Insists Group News Editor Ejiofor Alike

Email Ejiofor.Alike@thisdaylive.com, 08066066268

Says over 1,400 convictions, N800bn recoveries recorded Iyobosa Uwugiaren in Abuja Despite a rash of probes of top government officials for alleged corruption in recent times, the anti-graft agenda of President Muhammadu Buhari-led administration is not flagging, the federal government has said.

It warned critics of the anti-corruption war not to test the resolve of the Buhari administration to curb graft, adding that neither members of the ruling All Progressives Congress (APC) nor top government officials will be treated as sacred cows.

The Minister of Information and Culture, Alhaji Lai Mohammed, while giving an update on the anti-corruption war, a cardinal programme of the Buhari administration, at a press conference yesterday in Abuja, also said the administration had recorded over 1,400 convictions, including high-profile ones, and recovered funds in excess of N800 billion, outside the forfeiture of allegedly illgotten assets.

According to him, unlike under the previous administrations of the Peoples Democratic Party (PDP), the Buhari administration will not cover up for anyone, including members of the ruling All Progressives Congress (APC) facing corruption allegations.

Mohammed spoke against the backdrop of the ongoing probe of the Economic and Financial Crimes Commission (EFCC) acting Chairman, Mr.

Ibrahim Magu, as well as officials of the Niger Delta Development Commission (NDDC) and Nigeria Social Insurance Trust Fund (NSITF) for alleged corruption.

Many analysts have seen the probes as signs that the Buhari-led administration's fight against corruption is waning, with the main opposition, the PDP, latching on it to call for Buhari's resignation.

But the minister said the president, who is the African Union's Anti-Corruption Champion remained the driver of the fight. ‘’Let me state here and now that the fight against corruption, a cardinal programme of this administration, is alive and well. President Muhammadu Buhari, the African Union's Anti-Corruption Champion, who also has an impeccable reputation globally, remains the driver of the fight. ‘’And no one, not the least the PDP under whose watch Nigeria was looted dry, can taint his image or reverse the gains of the fight.

Anyone who disagrees that the anti-corruption fight is alive and well is free to dare us,’’ Mohammed added.

According to him, revelations from recent probes have shown that the Buhari administration is not ready to sweep any allegation of corruption under the carpet.

He said: ‘’There is no sacred cow in this fight, and that- unlike the PDP- we

APC Caretaker Committee on Track, Says Buhari Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday lauded the All Progressives Congress (APC) National Caretaker Committee, chaired by Yobe State Governor, Mr. Mai Mala Buni, on its efforts towards repositioning the party.

The president, during a virtual meeting with the caretakers and governors elected on the platform of the party also hailed the Progressive Governors’ Forum (PGF), led by its Chairman, Governor Atiku Bagudu of Kebbi State, for efforts to participate in the forthcoming governorship elections in Edo and Ondo States.

A statement by presidential spokesman, Malam Garba Shehu, said at the meeting, attended by Vice President Yemi Osinbajo, the president said he was satisfied with the work done so far by the caretaker committee.

He said: “I am pleased with the chairman and the work of the committee. He is highly mobile in the efforts to coordinate and strengthen the party. I am happy with his personal efforts.”

The president appreciated

the efforts of the APC governors over the successful conduct of the party's primaries in Edo and Ondo States, saying, “I am happy that they knew their responsibilities as governors and had identified the right priorities.”

According to the statement, Bagudu thanked the president for taking the right steps to resolve the crisis rocking the party.

The APC governors were also said to have commended Buhari over his handling of security issues and the economy, particularly on how the country was pulled out of 2016 economic recession as well as the ongoing management of the COVID-19 pandemic.

“We are proud of your leadership and achievements,” Bagudu said.

Following the dissolution of the National Working Committee (NWC) of the APC in June, the National Executive Committee of the party had chosen the Yobe governor and others as chairman and members of the caretaker committee as well as of the extraordinary National Convention Committee respectively.

will not cover up for anyone, including the members of our party and government, who face corruption allegations. ‘’Our fight against corruption is blind to party affiliation, position in government and any other consideration. If the nation's anti-corruption czar can be investigated, then the fight against corruption cannot be deemed to be fake, neither can it be said to be waning.’’

Although Mohammed refused to go into the details of the various corruption allegations because they are all still under investigation, the minister explained that the allegations of corruption in NDDC, for example, are not new.

He said: ‘’What is new is the speed and the seriousness

with which this administration has tackled, and is still tackling the allegations. Had such attention been paid to the running of the NDDC by previous administrations, the commission would probably have avoided its present predicament. ‘’Is it not a sad irony, then, that those under whose watch the alleged freewheeling spending by the commission started are now the ones accusing those who are cleaning up after them of corruption?’’

The minister added that the Buhari administration has records to back up its claim of the war against corruption.

The administration, according to him, has recorded over 1,400 convictions, including high-profile ones,

and recovered funds in excess of N800 billion, outside the forfeiture of ill-gotten assets. ‘’Remember, gentlemen, that the fight against corruption is not about loot recovery or convictions alone. We are also putting in place enduring institutional reforms that will deter acts of corruption. ‘’Here we are talking about the Treasury Single Account (TSA), the whistleblower policy, the expansion of the coverage of the Integrated Payroll Personnel and Information System as well as the Government Integrated Management Information System and the Open Government Partnership and Transparency Portal on Financial Transactions, among others,’’ Mohammed stated.

He also cited the Independent Corrupt Practices and Other Related Crimes Commission’s (ICPC) Constituency and Executive Projects Tracking Group, aimed at tracking the performance of publiclyfunded projects, as another way of curbing corruption.

The minister said the commission's escalation of the use of administrative sanctions in the public service by periodically submitting, for sanction, names of public servants being prosecuted had been effective.

He described those celebrating the ‘’so-called waning of the administration's anti-corruption fight’’ as engaging in wishful thinking, adding that they are not seeing the big picture.

PARTY MATTERS...

L-R: Chief of Staff to the President, Prof. Ibrahim Gambari; Vice President Yemi Osinbajo SAN and President Muhammadu Buhari during a virtual meeting with All Progressives Congress governors in Abuja…yesterday

Magu’s Lawyer Queries Secrecy of Presidential Panel’s Proceedings Kingsley Nwezeh in Abuja A member of the suspended Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu's legal team yesterday queried the secrecy surrounding the proceedings of the seven-man presidential panel probing allegations of malfeasance against him.

Magu’s counsel, Mr. Oluwatosin Ojaomo, also raised posers over why the media is barred from covering the panel, headed

by Justice Ayo Salami, since its inception in spite of the constitutional provisions that allows the media unfettered coverage of the panel's proceedings in Section 36 of the constitution.

He also wondered why Magu has not been served with the allegations against him by the panel and why the panel has allowed witnesses testimonies behind him.

The panel is yet to allow Magu to present his defence to the panel, forcing his lead counsel, Mr. Wahab Shittu, to issue a statement that he would make his defence known to the world in addition to daily rebuttals of misrepresentations in the public space.

In an interview with THISDAY, Ojaomo said the panel's proceedings should be open to media coverage.

He said the panel had neither allowed Magu access the allegations against him nor allowed him to present his defence.

"I am being factual. The man (Magu) has not been given a copy of the petition against him. This is a quasijudicial panel. The panel is bound by Section 36 (1) of the constitution.

"The panel is bound to observe the principles of natural justice. These are very important issues to be

considered. The first thing to be done is to confront him with the allegations," he said.

Recalling Magu's initial invitation by the panel, he said: "Don't forget that the first thing he was told is to come and be a witness in an ongoing investigation.

“After his invitation to be at the panel, he is now suspended even when he has not been confronted with the allegations.

"There is a sinister move and Nigerians should be watchful. The people they are bringing to the panel are enemies of Ibrahim Magu."

He queried the mode of the panel's proceedings, saying: "How will there be witnesses testifying in an allegation against you and you are not allowed to be there? Where are the pillars of justice here?"

Ojaomo challenged the media to stand for its right and insist on covering the

panel’s proceedings.

"How do you bar the media from covering the panel? It is your constitutional right under Section 36 of the constitution.

"The media needs to assert itself even under the Freedom of Information Act," he added.

Magu had weekend denied allegations that he misappropriated N329 billion recovered from the Nigerian National Petroleum Cooperation (NNPC) and another N3 billion recovered from the Federal Inland Revenue Service (FIRS).

Magu had alleged that he was a victim of propaganda unleashed by some unnamed publications and interests in spite of his commitment to the anti-graft war as head of EFCC. He had said he would render daily rebuttals of allegations against him and make his defence known to the public.

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Jim Ovia Proffers Ways to Build Sustainable Brands

Obinna Chima

The Founder/Chairman of Zenith Bank Plc, Mr. Jim Ovia, has stressed the need for organisations to be creative, embrace innovation and integrity as well as superior service offerings in order to build sustainable brands.

Ovia said at a knowledgesharing webinar organised by the Nigerian-British Chamber of Commerce (NBCC) with the theme: “Building a Brand,” yesterday that human capital also played a vital role in developing a global brand.

He listed leading brands such as Amazon, MTN, Dangote, Glo, among brands in the world and Africa that have remained innovative.

According to Ovia, the organisations are regarded as the best brands because they offer quality services and they can be trusted.

“These brands have integrity and reputation. Branding goes with success and the successful stories of various products and services and innovation are what makes you develop some of the best brands you can think of.

With the COVID-19, different countries are trying to develop innovative ways to survive.

“It is no longer the survival of the fittest in terms of strength and energy, but what is required in this world of COVID-19 is more of survival of the most creative and the most adaptable.

So, you must adapt to the situation you find yourself.

Yes, the successful ones, their brands would be recognised,” he stated.

Responding to a question on how his personal philosophy has impacted on the Zenith Bank brand, the founder of one Nigeria’s leading financial institution said Zenith Bank was a vision created 30 years ago.

According to him, at that time “we all recall that Nigerians were very doubtful as to whether young boys of our age (we were all in our 30s), if we could really be trusted with depositors’ money and whether we would just wear blue jeans and vanish

from the country.

“But we were determined to prove members of the public wrong. We were determined to make a change. If you recall, it was during the military era. I do know a number of persons who were CEOs of banks at that time that were arrested, tried and jailed because they lost all their depositors’ money.

“The history books are there of the number of banks that were affected. So, we were terrified and for that reason, we needed to be very careful and we needed to display a great deal of honesty and integrity

to continue to do well.

“That was the vision and that was the focus. And in those days, if there are letters from the government or the regulators, you just have to stop what you are doing and read those letters three times, to be sure you knew what they wanted you to do. Otherwise, if you ignore what the letter says, it might render the project you are running useless. So, that was the era we came into banking and those were the situations we met. It was very scary.”

He also emphasised the importance of succession

planning in building a sustainable brand.

“So far, we have done it three times now and remarkably so well. Many assume I am still there, but the last time I ever visited the office was about 10 years ago, when I retired.

Succeeding CEOs have always continued to run the institution even better than the way I did when I was a CEO. Definitely, the brand would continue to be maintained, whether I am there or not,” he added.

Ovia said he did not see fintechs as being destructive to the banking sector.

Bureau Blames Pilot for Crash of Osinbajo’s Chopper Chinedu Eze The Accident Investigation Bureau (AIB) has released the final report on the helicopter crash involving Vice President Yemi Osinbajo, which occurred at Kabba, Kogi State in February 2019, blaming the incident on a misjudgment of distance by the crew members, inappropriate landing techniques and nonadherence to the landing process.

The Agusta Westland 139 chopper with registration number 5N-CML, owned and operated

by Caverton Helicopters Limited, crash-landed at Kabba Stadium.

The chopper had on board Osinbajo and 11 others, including the crew members.

Osinbajo was scheduled to launch the distribution of Traders’ Money to market women in Kogi State.

AIB Commissioner/Chief Executive Officer (CEO), Mr. Akin Olateru, released the report yesterday, with three others involving Aero Contractors and Ilorin International Aviation College.

He noted that the helicopter crew had initially sighted the football field before losing visual contact with the ground and the external surrounding.

According to him, at exactly 1:43 pm, the helicopter experienced a hard landing on the right main landing gear and rolled over.

All the occupants were evacuated unhurt.

Listing the causal factors, Olateru blamed the incident on a misjudgment of distance by the crew members, inappropriate landing techniques and nonadherence to the landing process.

He also said the helicopter operator failed to conduct a risk assessment of the landing preparedness.

The bureau faulted the crew for inappropriate landing techniques and limited planning before the commencement of the flight.

Giving details of what led to the crash in Kabba, Olateru said: “At about 13:46hrs, the helicopter departed Abuja runway 22 for Kabba.

“Onboard were 12 persons,

including the Vice President of the Federal Republic of Nigeria, his entourage, and three crew members (pilot, co-pilot, and an engineer).

“The flight crew stated that they sighted the intended landing area as a result of the cloud of residual dust generated by the downwash of a police helicopter.

“After sighting the football field, the flight crew approached with the speed of 20ft to about a 100ft and entered a hover to land.

“At about 50ft above ground level, a brownout set in. The flight crew lost visual contact with the ground and external surroundings.

“The co-pilot began radio altitude callouts “35, 30, 25, 20 and 15”. At about 14:34h, the helicopter experienced a hard landing on the right main landing gear and rolled over onto its right side. All persons on board were evacuated uninjured.

“The flight crew encountered a brownout condition during the hover to land, which led to the loss of external visual references, spatial disorientation, and loss of situational awareness resulting in a misjudgment of distance and ground clearance, as the flight, the crew tried to control the helicopter’s movements for landing. The helicopter landed hard and rolled over on its right side.”

On other factors that may have led to the crash, he said: “Inappropriate landing technique used, non-adherence to company procedures for known or anticipated brownout condition during landing and lack of risk assessment, limited landing site preparation, and planning prior to commencement of the flight.”

However, the commissioner said 11 days after the crash, the bureau issued two interim safety recommendations in its interim report to the Nigeria Civil Aviation Authority (NCAA) and Caverton.

The other three reports were two incidents involving Ilorin Aviation College at the Ilorin International Airport and Aero Contractor Port Harcourt- Lagos flight, which experienced smoke on board.

WELCOME ONBOARD...

Chairman, Audit Service Commission, Mrs. Oluwatoyin Adegbuji-Onikoyi (left), and Lagos State Governor, Mr. Babajide Sanwo-Olu, during the swearing-in of the commission’s members in Lagos…yesterday

Senate Summons UBA GMD over Alleged N41bn Privatisation Fraud To appear before Ethics Committee Wednesday Deji Elumoye in Abuja The Senate on Tuesday summoned the Group Managing Director of the United Bank for Africa (UBA), Mr. Kennedy Uzoka, to appear before it next Wednesday, over allegation of N41 billion fraud associated with the liquidated Nigerian Telecommunications Limited (NITEL).

UBA via a petition was alleged to have defrauded the liquidated Nigerian Telecommunications Limited ( NITEL) of about N41billion from N42 billion liquidators fund of the telecommunications company deposited thereafter being sold to MTEL. The summon of the bank's GMD was a sequel to the petitions forwarded to the upper legislative chamber by J .U Ayogu and Co, on behalf of NITEL/MTEL and referred to the Senate Committee on Ethics, Privileges and Public Petitions for further legislative action.

The committee Chairman, Senator Ayo Akinyelure, told reporters that the Group Managing Director ( GMD) and Chief Executive Officer ( CEO) of the bank, Mr. Kennedy Uzoka, has been summoned to appear before the committee unfailingly

on Wednesday, August 5, 2020.

UBA, he stated, was alleged to have made unauthorized withdrawals from the accounts of the liquidated telecommunications companies four different times technically stealing N41 out of N42billion liquidators of the forms deposited there.

According to him, as clearly stated and explained in the petition, UBA withdrew N29 billion, N11 billion, N6.8 million and N22 million at different times between 2006 and 2015 from the accounts without relevant tickets or authorizations for that purpose.

He added that liquidators of the firms explained further in the petition that officials of UBA have been hiding under litigated N685million it withdrew from the accounts.

Akinyelure said: "Being a committee adhering strictly to Senate rules, the litigated N685million is not part of what the UBA is being invited for despite even losing to NITEL liquidators at both the Federal High Court and Appeal Courts.

"The Committee's right of investigation under section 88 of the 1999 Constitution will be exercised to the fullest on this matter because the owners of

the stolen monies by UBA are dying".

He explained further that UBA promised to provide the tickets for the withdrawal of N22.5 billion withdrawn from the NITEL accounts without authorisation.

His words: "A human rights lawyer had sent a petition on behalf of the liquidators and creditors of NITEL and MTEL, that if the N685m is a subject of litigation, there is a third account meant for taxation and disasters which has N169m. It was also unilaterally withdrawn by the UBA. Seven years after the withdrawal, they've not provided the tickets, instead, they were asking the liquidators to get the tickets from the dead liquidators, which is wrong. They had yet to provide the tickets.

"In another account which had N29bn, UBA also unilaterally withdrew the money from NITEL accounts without authorization tickets. Most of the creditors of NITEL have sued the liquidators that they've collected money from the UBA without paying them.

"The human rights lawyer wrote on behalf of the dying creditors to the Senate for legislative interventions.

"There is another MTEL

account N11bn withdrawn by the UBA and it has not been accounted for till today. The creditors don't have money to go to court because they are already bankrupt. They sued UBA over the N685m and they won at the Federal High Court, Appeal Court and the Supreme Court. Up till today, they didn't respect the court judgment by not paying the liquidators.

"When the Senate wrote the UBA management, they responded that the matter was in court. The Senate is hereby insisting that the matter is not subjuidice, and we are calling on them to appear before us on August 5, 2020.

"The Group Managing Director should come and explain how the other funds withdrawn was before the court. They are owing the NITEL and MTEL over N41 billion and they should come and explain to Nigerians".

The federal government had after many years of looking for buyers eventually sold NITEL/ MTEL in July 2006 to Transcorp for $750m.

Transcorp, a Nigerian multi-national, multi-sectoral conglomerate emerged the winner in a negotiated bid, beating six other companies to the sale.

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But I don’t go there on my own and insist I must do this or that. No. You don’t do that to the government,” he said.

Daura, an accomplished journalist and businessman, is widely believed to, along with the late presidential chief of staff, Malam Abba Kyari, have the ears of Buhari

and takes the lion share of the blame for perceived missteps of the administration led by his younger uncle.

But in an interview with the foreign broadcast station, he denied teleguiding the president, explaining that while he had access, he was mindful not to take undue advantage of his relationship, pointing out that it would be

inappropriate to intervene in the conduct of public affairs without the request of the president.

Daura clarified his relationship with Buhari: “My father was their mother’s firstborn. Buhari is the last born.” He said he grew up with the president and that they had always been close.

Buhari’s wife, Aisha, has been critical of Daura.

In October 2019, a video of the first lady and Fatima, one of Daura’s daughters, in a heated argument surfaced online.

The first lady claimed she was denied access to an apartment in the Presidential Villa by Daura’s family.

Fatima, however, said

Aisha attacked her inside the villa.

In December 2019, the first lady also accused him of issuing a presidential directive without the knowledge of her husband.

Aisha in a statement accused Daura of issuing a directive to a presidential spokesperson, Malam Garba Shehu, not to recognise her

office.

“Nigeria’s development is hinged on the ability of public officials to execute their mandates professionally, and to be shining examples in their various areas of endeavour. It is not a good sign when officials abandoned their responsibility and start clutching at straws,” the first lady had said.

COVID-19 lockdowns erased nearly one-third of global oil demand.

Prepayments with traders are widely used in commodity finance as banks consider them to be one of the more secure forms of lending in countries viewed as risky.

For trading firms such as Vitol, these loans are ideal for securing long-term supplies and boosting razor-thin margins.

NNPC has been trying to raise cash through prepayments with traders for years.

However, it is believed that the firm’s opaque finances and costly fuel subsidies have made it tough for it to secure private financing on attractive terms.

Nigeria announced the end of subsidies earlier this year.

NNPC will use a large portion of the money to pay taxes owed by its subsidiary Nigerian Petroleum Development Company (NPDC), the sources said while the remainder will go towards operational expenses and capital expenditure.

One of the sources said money from the prepayment

could fund an upgrade of the Port Harcourt refinery.

The Group Managing Director, NNPC, Malam Mele Kyari, in an interview recently, had said the corporation was in the process of securing funding for the Port Harcourt refinery, one of Nigeria’s refineries that has been comatose for years.

Kyari said the NNPC was pursuing “a different model” for the refineries, including the type used by the Nigeria LNG Limited (NLNG), which he said will make them operate more efficiently.

FG SIGNS $1.5BN PREPAYMENT DEAL WITH OIL TRADERS Reuters’ requests for comment.

The prepayment deal will likely weaken longer-term revenues since Nigeria will offer its oil at a reduced price and will miss out on any price increases.

However, the deal would provide Nigeria with upfront cash and guaranteed revenue as it expands its budget.

At the same time, the agreement would assure traders a source of supply at a discount for an extended period of time that they can use for resale in the global market.

Prepayment deals usually

allow traders to establish long-term relationships with producers.

When petro-states are cashstrapped, prepayment deals are not uncommon, with banks and bond markets remaining the top source of financing for the oil and gas sector.

In 2013, Russia’s Rosneft signed a $10 billion deal with Vitol and Glencore and made a similar agreement with Trafigura around the same time.

Venezuela, Ecuador, Colombia, Libya, and Algeria have also utilised similar

pre-payment structures.

Market analysts also, believe that when traders strike prepayment deals with countries like Nigeria, they will enjoy the advantages of a close relationship with a major oil exporter, giving them access to time-sensitive data that will boost their market intelligence and information flow.

The current deal would provide the Organisation of Petroleum Exporting Countries (OPEC) member with much-needed cash after its finances were hit by the oil price crash in April as

BUHARI HAILS INDEPENDENT PANEL’S AFFIRMATION OF ADESINA’S INNOCENCE and requested for a review by an independent panel.

Although the American request was outside the processes of the bank, the board felt it was necessary to carry along all shareholders.

It, therefore, instituted the independent panel, which eventually affirmed the Ethics Committee’s clean bill of health issued to Adesina.

Buhari was excited by this development yesterday, describing the clean bill of health as a further affirmation of Adesina's competence and integrity to lead the institution.

The president's media adviser, Mr. Femi Adesina, in a statement, said Buhari also congratulated AfDB Board of Directors, the Ethics Committee and members of staff for their courage, maturity, and patience during the process of investigations, and acceptance of "Report of Panel of High-Level Independent Experts, which reviewed the Report of Ethics Committee of AfDB, and Dr. Adesina’s response."

The president also hailed Ms. Mary Robinson, Justice Hassan Jallow and Mr. Leonard McCarthy, whom he described as the eminent personalities who handled the review of the report of the Ethics Committee.

He also applauded their sense of professionalism by rejecting support services, and rather proceeding to provide a unanimous report.

According to Buhari, with the conclusion of the review of the investigative report and its output, distractions caused by the allegations for the entire institution for a notable period must now be put behind the bank.

However, he was swift to add that the development should serve as a recipe for a more diligent handling of the bank's responsibilities.

The president said the development should also simultaneously fuel the zeal for a more effective delivery of the promises for a greater Africa.

He encouraged the AfDB president to remain steadfast, dedicated and resolute in the pursuit of his noble goals for the institution, more so with his expected second term in

office, as he assured him of the prayers and support of Nigerians.

The Bureau of the Board of Governors of the bank had on June 4, 2020, mandated the High-Level Panel of Independent Experts (HLPIE) to carry out an "independent review of the report of the Ethics Committee of the Board of Directors on the allegations made by whistleblowers against the President of the AfDB Group."

However, in a report obtained yesterday by THISDAY, the HLPIE absolved Adesina of all charges levelled against him by the internal whistleblowers.

The HLIPE unanimously stated that “it has considered the President’s (Adesina) submissions on their face and find them consistent with his innocence and to be persuasive.”

It added that the complaints, which were made against Adesina, “were correctly dismissed at the stage of preliminary examination.”

It described the allegations against Adesina as lacking “specificity and are not supported by any information or evidence.

Hence do not satisfy the threshold of credibility and substantiation required by the resolution and should be dismissed.”

The panel, headed by a former President of Ireland, Mrs. Mary Robinson, considered the Report of the Ethics Committee of the AfDB on 16 allegations preferred against Adesina and affirmed all the conclusions of the ethics committee that freed Adesina of any blame and culpability.

Other members of the HLIPE were the Chief Justice of The Gambia, Mr. Hassan Jallow and the President of LFMcCarthy Associates, Mr. Leonard McCarthy.

The panel considered each of the 16 complaints of the whistleblowers and dismissed them for either being frivolous, unsubstantiated and factually wrong in some instances.

Robinson expressed the HLPIE’s satisfaction that the ethics committee of the AfDB

considered the complaints received by it on January 19, 2020, in a comprehensive and responsible manner and followed correct procedures.

She said: “The panel (HLPIE) concurs with the committee in its findings in respect of all the allegations against the president (Adesina) and finds that they were properly considered and dismissed by the committee.”

Robinson noted that the panel carried out its work in line with “the terms of reference of the panel as laid down by the Bureau of the Board of Governors of the AfDB on June 4, 2020,” which included “the establishment of the propriety or otherwise of the process undertaken by the ethics committee,” adding that “the ethics committee carefully maintained the confidentiality of their procedures.”

The HLIPE, in its concluding observations on Adesina’s response, said it was mindful of the fact that “absence of evidence is not evidence of absence.”

It noted that “it appears to us to be an undue burden to expect a holder of high office in an international organisation to prove a negative in the absence of sufficient grounds.”

This conclusion implied that Adesina had no case whatsoever to answer as the panel said a distinction should be drawn between alleged institutional failure at the bank and the conduct of its president.

The panel considered the complaints provided to the ethics committee by the whistleblowers and found them to have been “properly considered and dismissed by the committee.”

The panel also frowned on the manner “the whistleblowers’ complaints were wrongly publicised,” stressing that “fairness required that the president be heard.”

The HLIPE said it considered “the president’s submissions on their face and finds them consistent with his innocence and to be persuasive.”

The panel noted that the complainants declined to

provide any evidence in support of their allegation number one on non-respect of internal rules and regulations in recruitment, which alleged that Adesina was “playing a very active role in the recruitment of all managerial positions, acting as the de facto HR manager.”

It affirmed the ethics committee's conclusion that the allegation was unfounded and should be dismissed on the grounds that the staff rules bestowed authority on Adesina as the president of the bank in respect of all staff and gave him the power of appointment and promotion of staff.

It added “that all structures of the bank on appointments and promotions are advisory to the president.”

The panel also dismissed allegation number two in which the petitioners alleged that a staff member was appointed to the bank despite having been dismissed from the National Pension Commission of Nigeria following allegations of improper conduct and that the president of the bank must have been aware of these circumstances.

It noted that the complainants declined to proffer any evidence of the alleged dismissal of the staff member or of the personal involvement of the AfDB’s president in her recruitment as a consultant to the bank or of any protest or resignation by the head of HR of the bank.

On allegation number four, the panel held that the decision of Adesina to issue the directive to pay a global supplier who delivered seedcoated technology used in the SADC region to prevent spread and infestation of fall army worms was within the confines of his powers.

The panel said Adesina exercised this power “in the best interests of the bank to ward off a possible civil suit against the bank for violating contractual obligations, and to protect its reputation, privileges, and immunities.

The panel considers the president’s account of his actions to be reasonable.”

The HLIPE also dismissed complaint number nine, which alleged that Adesina promoted Nigeria to a fully-fledged region, giving preferential treatment to its nationals.

It agreed with Adesina’s response that these decisions were made under his predecessor’s watch and that he could not have violated the Code of Ethics by a board decision taken before he assumed office.

“On that basis, he (Adesina) is clearly correct,” the HLIPE stated.

Similarly, the panel was satisfied with Adesina’s defence that he donated the two cash awards he received for the World Food Prize and the Sunhak Peace prize (for a lifetime of accomplishments) in 2017 and 2019 respectively, to the World Hunger Fighters Foundation, in order to support young African Agribusiness innovators contrary to the whistleblowers’ allegation number 10 that portrayed the World Food Prize event as being for his personal benefit.

The panel noted that the complainants did “nothing to counter these points.”

The panel also accepted Adesina’s response to the allegation of political lobbying and bribing of some African heads of state, ostensibly to support his candidature in his reelection bid, which Adesina described as fanciful and baseless allegations that impugned the integrity of those persons.

On complaints numbers 2, 3, 5, 6, 7, 8, 11, 12, 13, 14 and 15 that covered a range of human resource administration breaches and alleged preferential treatment and questionable rushed promotions, irregular contracting of consultants, biased confirmation of probationary periods, irregular settlements for staff separations and disregard of rules regarding senior management travel and leave of absence, the panel noted that it has already considered allegation number eight on alleged sexual harassment by a colleague during his probation period, and found it to be lacking in substance.

It said the danger with this type of accusation “is that it later appears to be based on lopsided reasoning.”

The HLIPE observed that Adesina performed his role in the ordinary course of duties of confirming staff appraisals in each case without knowing the staff member in question and “was entirely unaware of the alleged disqualification, and that the whistleblowers got the chronology wrong.

“The complaints appear to be no more than conjecture.

There also appears to be little merit in the allegation of impropriety in the president’s granting of a waiver for the short term recruitment of a retired director general who led the work, to support him in his capacity as chairman of the Multilateral Development Banks…

“The president’s (Adesina) role was to give a final stamp of approval. He executed this fairly and equitably, informed by the fact that all these candidates came with excellent credentials and were highly recommended by the sitting interview panels.”

TOP GAINERS NGN NGN % BERGPAINTS 0.55 6.05 10 MBENEFIT 0.02 0.22 10 UNITYBANK 0.05 0.62 8.7 OKOMUOIL 4.45 74.95 6.3 OANDO 0.12 2.27 5.5 TOP LOSERS NGN % TOTAL 9.70 87.80 9.9 SEPLAT 30.70 282.00 9.8 NPFMFB 0.11 1.31 7.7 UACN 0.50 6.80 6.8 JBERGER 1.00 15.00 6.2 HPE Nestle Nig Plc ₦1,256.80 Volume: 150.398 million shares Value: N1.978 billion Deals: 3,780 As at yesterday 28/7/2020 See details on Page 27

WEDNESDAY JULY 29 2020 • T H I S D AY

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WEDNESDAY JULY 29, 2020 •T H I S D AY

CLARIFICATION OF ISSUES RAISED IN THE PRESS RELEASE DATED 24TH JULY, 2020 ISSUED

BY PRIME GULF INTERNATIONAL (UK) LIMITED AGAINST AQUASHIELD OIL AND MARINE SERVICES LIMITED The attention of Aquashield Oil and Marine Services Company limited (“Aquashield”) and the MD/CEO, Captain Nasir Muhammad Saulawa has been drawn to a press release issued by Prime Gulf International (UK) Limited (“PGI (UK)”) at page 47 in Thisday Newspaper of 24th July, 2020 in respect of matters that are subjudice which were deceptively skewed to achieve a malicious intention.

excess of the Arbitration Award he obtained using PGI (UK). Also, an application seeking to restrain Captain Nalin Abeyratne and PGI (UK) from publishing the Arbitration award in any manner whatsoever and/or carrying out steps that will be prejudicial, embarrassing and occasion financial loss to Aquashield pending the hearing and determination of the suit. The Honourable Court made an order for parties to maintain status quo as far back as 12th July, 2018.

We wish to provide the following clarification; 4.

In spite of 3 above, PGI (UK) and Captain Nalin 1.

The dispute between Aquashield and PGI (UK) Abeyratne obtained a World wide freezing order on 2nd is anchored on the alleged breach of fiduciary duties of November 2018 in the UK Court in total disregard to the an ex-officer/employee of Aquashield in the person of Nigeria Court order and/or pending proceedings.

Captain Nalin Abeyratne who was engaged and funded Also, PGI (UK) without Notice to Aquashield and

by Aquashield to establish PGI (UK) on its behalf as a 5. ship management company. Capt Nalin Abeyratne by with obvious disdain to the Nigeria Court process in Suit his conduct, his UK lawyers and by extension, our UK No. FHC/L/CS/681/2018 as well as with obvious intention solicitors designed an Interim Settlement Agreement to mislead the Court obtained an order recognizing the (ISA) that did not represent nor protect us and Arbitration Award in January, 2020. Thereafter, PGI (UK) subsequently the ISA was made consent order in the UK surreptitiously without notice to Aquashield obtained court without our knowledge. Thus, we have commenced a garnishee order Nisi against several bank accounts appropriate remedial actions both in the UK and Nigeria. operated by Aquashield in Nigeria.

2. Aquashield in exercise of its legal right to challenge the conduct of Captain Nalin Abeyratne as an officer/ employee of Aquashield using Prime Gulf International (UK) Limited in clear contravention of the Companies and Allied matters Act laws of Federation Nigeria have filed a suit (Suit No. FHC/L/CS/681/2018 between Aquashield & Anor. vs. PGI (UK) & Anor.) against Captain Nalin Abeyratne and PGI (UK) at the Federal High Court, Lagos for breach of trust and fiduciary relationship as an officer of Aquashield. This suit is pending and on-going.

3.

There are pending applications in Suit No. FHC/L/ CS/681/2018 to wit; an application seeking restraining orders against Captain Nalin Abeyratne and Prime Gulf International (UK) Limited from taking steps to enforce the Arbitration Award in Nigeria pending the determination of the said suit as the damages claimed

by Aquashield for the conduct of its ex-employee is far in

6.

Aquashield upon being aware of these prejudicial steps taken by PGI (UK) filed an application to set aside the order obtained by PGI (UK) on the ground that the Judge was misled by PGI (UK). The same judge that granted the orders of recognition of the Arbitration award set it aside in May, 2020. PGI (UK) has exercised their right to appeal and have even filed their Brief of Arguments. This appeal instituted by PGI (UK) is still pending.

7.

It is a colossal abuse, de-marketing strategy and bile mischief for PGI (UK) to author a press statement of this nature in total disrespect to processes of Court. Therefore, we view this as an attempt to malign Aquashield and its Principal Captain Nasir Saulawa in order to publicly ridicule them in the eyes of their partners, clients and the entire public. We have instructed our lawyers on the best way to protect the integrity of our company and MD/ CEO as appropriate by the extant laws of Nigeria.

Signed: MANAGEMENT

WEDNESDAY JULY 29 2020 • T H I S D AY

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T H I S D AY Ëž Ëœ Í°ÍˇËœ Í°ÍŽÍ°ÍŽ

COMMENT

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

LEADING FROM THE FRONT

Wale Babalakin pays tribute to Bode Akindele, great entrepreneur and man of courage

I

was very shocked to hear about the passing away of Chief Bode Akindele (CBA). I had seen him regularly at social functions and he never looked an inch older than 70 years even though the last time I saw him, he was 87 years old. His carriage was solid and he always responded to my greetings with his trademark smile.

I had greatly debated with myself whether I should write a tribute to Chief Akindele. This is more so, considering that my close relationship with Chief Akindele was for about five years. I believe that there are so many people who knew him for a longer period of time and thus are more qualified to write a proper tribute.

I resolved to write this tribute primarily to inform the younger generation about the great vision and strides a confident Nigerian businessman can make on the global stage especially when the individual is focused and determined, rather than being weighed down by perceived disadvantages and other misconceptions.

Four Nigerian businessmen have had great effect on my entrepreneurial interest. Chief Bode Akindele was one of them.

The other individual whom I will mention in this tribute is Mr. Wilberforce Olusegun Odulate. It was Mr. Odulate who made me realise that academic disposition and entrepreneurial activities were not irreconcilable. Having been brought up in a family of professionals, all I was primed to do from youth was to be a successful legal practitioner and be elevated to the Bench or remain as a practitioner in the Bar. Mr. Odulate had studied physics in a University in England. He had a very good job but opted to reinvent his father’s business in producing Alabukun powder. At some point, Mr. Odulate was writing a textbook on Physics in England whilst also involved in the business of producing Alabukun in Nigeria.

I met Mr Odulate through his son, Koye, who was my contemporary and friend at Cambridge University. Koye used to pick me up from Cambridge to London and we (i.e. Mr. Odulate, Koye and I) would spend an entire evening till the early hours of the morning discussing Greek Philosophy and sometimes business strategy. These interactions with Mr. Odulate were very unique to me. How could a philosopher be a very successful businessman? I remain grateful to Mr. Odulate for opening my eyes to see that scholarship and business are not irreconcilable. May his entrepreneurial spirit continue to rest in peace.

I met Chief Akindele through a banker who had supported most of his industrial projects in Nigeria. Chief Akindele’s primary legal adviser in Nigeria had just passed away and he had so many legal issues that he wanted resolved. The banker nominated me to Chief Akindele. I can still vividly recall the reaction of Chief Akindele when he saw me. He was expecting a man in his middle age and not a 30-year-old boy. After the first assignment our firm carried out for Chief Akindele, he stopped seeing me as a young man and we simply got on like a house on fire.

Chief Akindele had so many unique qualities and capacities that cannot be described properly in a short tribute like this. I will only highlight a few. Chief Akindele had enormous self-confidence and never felt overwhelmed by expatriates. He could not be a stooge for anybody no matter how highly placed. I saw this attitude displayed when he decided to pull out of a major construction company. Chief Akindele owned 50% of the company and was not going to kowtow to anybody.

The severance was a battle which played out in Lagos, London and Switzerland. His adversaries had a barrage of lawyers from all these jurisdictions.

It also had the support of some high-ranking members of government.

I was with Chief Akindele, as his lawyer, at every forum. This was very encouraging to me. On many occasions, Chief Akindele will say to me, “Wale, I can bet that you can take them all together and carry the day�.

That was a great encouragement for, and confidence in, a 30-year- old man! The Managing Director of the company was so browbeaten by Chief Akindele and his team that he told me at a later stage that in his entire business life, no one had totally dominated him in any sphere of business like Chief Akindele.

Chief Akindele loathed the idea of fronting for anybody. He felt it was very belittling for anybody to be a front. Fronting in Nigeria’s context means that you present yourself as the owner of a business while you

CHIEF AKINDELE WANTED NIGERIANS TO ASPIRE TO ANY LEVEL OF BUSINESS IN THE WORLD AND NOT PLAY SECOND FIDDLE TO ANY PERSON(S). CHIEF AKINDELE’S GROUP LED THE ACQUISITION OF A SWEDISH MATCH MANUFACTURING COMPANY WHICH AT A STAGE CONTROLLED ABOUT 60% OF THE GLOBAL MATCH MARKET. WHAT A PHENOMENON CHIEF AKINDELE WAS!

are simply a lackey to the real owners. Chief Akindele could not understand why anybody could do such a thing when one could build or acquire the business for one’s self.

In this context I also remember another instance our firm provided legal services for Chief Bode Akindele in the severance transaction of a port inspection agency. In that transaction, the other side paraded very important names in the society. Chief Akindele had complete disdain for these men. Whenever they approached him for discussion, Chief Akindele would say to me, “Wale you know that man is a front. He is not a real man.�

Chief Akindele wanted Nigerians to aspire to any level of business in the world and not play second fiddle to any person(s). Chief Akindele’s group led the acquisition of a Swedish match manufacturing company which at a stage controlled about 60% of the global match market. What a phenomenon Chief Akindele was! He was never willing to play second fiddle. Chief Akindele led from the front.

Chief Akindele’s penchant for hard work was indescribable. On one occasion, I was with him in Switzerland for a transaction and we usually commenced our meetings at 9:00am and would only break at 7:00pm for dinner. There was no lunch. We ate cold sandwiches, biscuits, coffee and tea all day.

Chief Akindele’s partner was Dr. Alfred Hartmann who had retired as General Manager of Union Bank of Switzerland and was then sitting on about seven boards of different banks in Switzerland. Even though I was sometimes uncomfortable with eating the biscuits and sandwiches, I could not complain because my very wealthy and older clients endured this situation with ease. I had no locus standi to protest.

After the meeting on a particular day, I had suggested to them that we should take a taxi to the Dolder Grande where we were staying. It was a bitterly cold day in Zurich. The reaction of the duo shocked me.

Dr. Hartmann wondered why we should waste about â‚Ź5 (five euros) when we could enjoy the trek of about two miles to the hotel. I could not understand how two billionaires found it difficult to spend â‚Ź5 on transport. I later learnt that Chief Akindele was extremely prudent with money and this probably explains why, in addition to his phenomenal intellect, Chief Akindele was able to accumulate so much wealth.

I was also very thrilled, if not bewildered by this ability to define relationships and place each relationship in its one compartment.

The Company Secretary of almost all the companies of Chief was his wife, Mrs. Atema Akindele. She was a very outstanding secretary. At official functions, the relationship was so strictly official that you could not imagine that they had a relationship as husband and wife.

Apart from the very challenging work schedule, being with Chief Akindele abroad was always a pleasure. Chief Akindele’s ability to entertain was on a different level. He was well known in all the exclusive restaurants in England and all other leading European Cities.

Chief Akindele and I had a falling out until around January 1994. I believe it was occasioned by poor communication and I never took it against him. I always enjoyed his company. At his daughter, Iyabo’s wedding; I sat with him and Brigadier Oluwole Rotimi (an outstanding solider, military administrator and gentleman). We bantered for most of the evening. I usually approached him at every public function to extend my regards.

When my company won the concession for the Lagos-Ibadan Expressway, Chief Akindele called me and was ecstatic. In addition to congratulating me, he offered to link me up with the best consultants in the development of toll roads. He also prayed that I should not encounter the typical bureaucratic resistance to any solid project in Nigeria. Evidently, Chief Akindele remained warm to me till his last days.

Nigeria has lost a great entrepreneur and a man of phenomenal courage.

Adieu Chief Bode Akindele, Para Koyi Ibadan, Oba Ibomi, Okunrin Mewa, Omo Alhaja Rabiatu. May your enterprising soul continue to soul rest in peace.

Dr. Babalakin, SAN, is a businessman and lawyer

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O

ne thing that easily gives away Pastor Osagie Ize-Iyamu, the candidate of the All Progressives Congress (APC), as the candidate to beat in the September 19, 2020 governorship election in Edo State is preparation. For anybody to succeed in all battles, preparation takes 80 per cent. Leadership is about preparation and preparation is vision.

No one is a leader unless someone is following.

Therefore, leadership is the ability to mobilise others to accomplish a common goal. Successful leadership is vision combined with the resolve, courage and endurance that it takes to accomplish the goal, to press the job until it is finished. But when those who follow a leader begin to leave their leader in droves like what has happened to the candidate of the Peoples Democratic Party (PDP), Mr. Godwin Obaseki, especially the resignation of three commissioners and a special adviser in one fell swoop, such a leader should ask

himself questions.

There will always be leadership. Whenever there is an absence of leadership, it will quickly be filled by someone who is prepared. If the noble could not rule, the profane will. The best men and women in history, as well as the most evil, have used the same principles of leadership. If evil prevails in a place or time, it is because the initiative was seized by the evil while the good wavered.

When good prevails, it is because the good seize the initiative and lead. Leaders are made from those who know what is happening and are not content to sit on the sidelines of life and watch others determine their affairs. They recognise opportunities and seize them with boldness. Leaders are the ones who make things happen. Obaseki, a man with so much ambition but without vision, was put on the captain’s seat. And for four years, Edo State has been sailing without compass because the captain does not know where he is going since he had no plan of where to lead the state to. It

is against this backdrop that we examine Pastor Osagie Ize-Iyamu’s Simple Agenda as a document of consequence.

The Simple Agenda, is therefore a guide to the progressive ideas and themes that are energising him to win the election. These innovative, non-bureaucratic approaches to governance are central to the new thinking that is changing the basic contours of modern politics all over the world. The policy templates in this Agenda are inspired by a new wave of progressive innovation sweeping across the world. From public school choice to tenant management, public housing to security management, Edolites are going to experience new ways of solving their problems. The themes and ideas in The Simple Agenda cannot be easily categorised in conventional political terms. Some may assail them as too liberal, others as too conservative.

This does not mean, however, that Ize-Iyamu’s proposals lie at some mythical midpoint on the political continuum. On the contrary, they call for a

radical departure from the status quo. They are set to upset the comfortable arrangements of politics as usual. The Simple Agenda is not a comprehensive, agency-by-agency guide for managing Edo State.

Instead, it offers highly specific recommendations for tackling the state’s most pressing problems.

The Simple Agenda calls for reinvigorating Edo’s anaemic economy by breaking the fiscal impasse, opening markets and forging a new compact of economic security with Edo workers , harnessing market forces to control health care costs and combat unemployment, revolutionalise Edo’s ailing education system, making Edolites more secure in their homes and on their streets, bolstering families with children, reinventing government to make the public sector a catalyst for innovation rather than an obstacle to it. Taken together, Pastor Ize-Iyamu’s progressive agenda constitutes a new governing philosophy for a new era in Edo politics.

This Agenda is sending jitters down the spines of his opponents. It is a new dawn for our people.

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T H I S D AY ˾ WEDNESDAY, JULY 29, 2020

EDITORIAL A GOVERNMENT IN DISARRAY Government must focus on the people, their safety and welfare

P

erhaps to underscore some glaring failings of the present administration, the main opposition party, the Peoples Democratic Party (PDP), last week asked President Muhammadu Buhari to resign over increasing cases of insecurity and corruption across the country. The party said that the country was on ventilator “gasping for air.” Even though the accusations were motivated by politics, and described by the ruling All Progressives Congress (APC) as “silly,” the statement in some ways captured the public mood.

There are plenty things that continue to disappoint in an administration welcomed with high hopes more than five years ago. The prevalent public disillusion occasioned by severe economic hardship is being capped by losing the dominance of the machinery of violence to non-state actors. A fortnight ago, President Buhari vowed to “wipe out the remaining vestiges” of Boko Haram extremist Islamist group, after they executed another set of aid IN THE MIDST OF THE workers abducted in GROWING HARDSHIP, North-east of Borno PUBLIC FUNDS ARE BEING State. The group’s decade-long insurSTOLEN BRAZENLY AND gency has left more SQUANDERED than 30,000 dead, displaced more than two million others, resulting in a large-scale humanitarian crisis. “Insecurity has made vast swathes of our country uninhabitable for citizens and unattractive to investment,” said Speaker of the House of Representatives Femi Gbajabiamila last week.

To compound the challenge, bandits, kidnappers and other criminals are on a free rein in different theatres across the country. Few weeks ago, a group of gangsters took on the military, killing 23 soldiers in Katsina, the president’s home state. In Niger, Sokoto, Zamfara, Benue, and many other states in the North, lawlessness has seized the streets and farms. In Kaduna, the killings are gradually assuming the shape of premeditated genocide that breeds reprisal attacks

Letters to the Editor

and an endless spiral of bloodletting. A new report released last week by the Global Terrorism Index which measured the impact of terrorism across the world ranked Nigeria the third most terrorised country in the world after Afghanistan and Iraq - with huge economic and financial loss. The report noted that violence between herders and farmers has led to about 300,000 people fleeing their homes.

P T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

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

erhaps overwhelmed, the Chief of Army Staff, Lt General Tukur Buratai has more or less thrown the challenge of security on the laps of the people. Yet over the years, the administration has consistently played down the capacity of the extreme Islamic group and others to continue to wrought havoc, adopting as it were a rule which seems to say: if a plan is not working stick to it. The consequence is an atmosphere wracked with hopelessness.

And there are no reliefs to the agonies. The economy is in deep crisis, reflected largely by the huge numbers of the unemployed.

Nigeria has long been adjudged as the country with the most number of citizens living in extreme poverty.

But the impunity that goes on in government belies this. An administration which came waving a placard of zero tolerance for corruption has been seized, as it were, by the plague on a massive scale. In the midst of the growing hardship, public funds are being stolen brazenly and squandered. Corruption is eating away the ability of many to live a decent life. Even those charged with fighting the plague are neck deep in it. The ministries, departments and agencies are not subjected to internal checks and balances. They have become shorthand for corruption. Almost everyone in key positions – like in the NDDC - is dipping carelessly into the public till. Shouldn’t a government worry about that?

So what has to be done? The strategy of denials-refusing to accept the situation as it is - has become untenable. Even more important, government must focus on the people, their safety and welfare. And it must be accountable to the people.

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

Whither The Niger Delta Development Commission?

C

rude oil or the black gold was first discovered in Oloibiri in the present day Bayelsa State in 1956, four years to the nation’s political independence. Some political analysts have opined that if this discovery had come much earlier, the British would not have left the country but we would have had a metamorphosis of what occurred in South Africa where you have white citizens.

The initial discovery didn’t mean much as the value was not any better than the groundnut pyramids of the north, coal of the east and palm oil of the west.

It was after the successful prosecution of the civil war that the value of the black gold shot up astronomically. So much funds came into the Nigerian coffers that the then Military Head of State, General Yakubu Gowon made a famous remark that the problem of the country wasn’t money but how to spend it.

Ironically, the region where this oil was drilled from – the Niger Delta became one if not the nation’s most impoverished. The multinationals moved in with the speed of light and desecrated their farmlands and rivers rendering the inhabitants economically impotent as their two major sources of revenue – farming and fishing were annihilated.

The criminal neglect by successive governments both military and civilian inadvertently led to the struggle for self-determination of the area by activists for a fairer deal.

It was the struggle for a better Niger Delta that shot Ken Saro-Wiwa to global prominence which made him and eight other comrades pay the supreme price in the hands of the then maximum dark googled ruler, General Sani Abacha.

The return of the country to democracy in 1999 after a 16- year military hiatus brought a ray of hope to the troubled region when the then President Olusegun Obasanjo set up the Niger Delta Development Commission (NDDC) in response to the demands by the region’s leaders for the government to develop the place.

The establishment of the agency aimed at developing the region coincided with the time when the Niger Delta states were getting 13 percent derivation from crude oil and pundits opined that at last the much-needed development will come to the zone.

There are nine states that make up the oil producing areas – the six states of the south-south region as well as Ondo, Abia and Imo. The optimism was that since the management of the commission will be headed by Niger Deltans, they will be altruistic enough to ensure that they use the commission to bring home the bacon for their people.

Twenty years down the line, the commission has tragically not lived up to its much- touted promise as it is the haven for sleaze and all manner of financial impropriety that has done nothing but increase the sufferings of the Man on the Clapham Omnibus in the beleaguered Niger Delta region that ironically produces the goose that lays the golden eggs of the nation.

The top brass in the commission have been reckless with the way and manner they disbursed public funds. Overinflated contracts, the highest case of abandoned projects in the country and mind-boggling corruption running into billions of dollars have made nonsense of whatever good intentions Obasanjo had for the region when he established it two decades ago.

The allegations made by Gbene Joi Nunieh, a former Managing Director of the Interim Management Committee of the Commission

against the Minister for the Niger Delta Affairs, Senator Godswill Obot Akpabio where she alleged that the minister dipped his hands into the commission’s funds is rather tragic. One would have expected that the anti-corruption posturing of this government would have made the president suspend him pending the probe of the allegations by the joint committee of the National Assembly. Alas Akpabio seems to be a sacred cow since he was among the financiers of the President’s second term bid and he also needed to be compensated for his 2019 senatorial loss.

Last Thursday, Chairman of the House of Representatives Investigation Committee Olubunmi Tunji-Ojo said documents at the panel’s disposal showed that the agency spent N81.5 billion and not N40 billion during the said period between January and May this year under the leadership of Professor Kemebradikumo Pondei. The professor ‘fainted’ during the proceedings reminding us of the hilarious moment that erstwhile Senator Dino Melaye gave us in the upper chamber. Why is the so-called ‘Giant of Africa’ with feet of clay so cursed with her choice of leaders?

Akpabio was initially combative during his interrogations by the House of Representatives Committee only for him to recant that he never said that the parliamentarians were contractors.

I opine that a forensic audit should be done from year 2000 till date and those found guilty of dipping their hands into the till should be made to face the music. It is high time we strengthen our fight against the hydra headed monster of corruption. The judiciary has been made a laughing stock as it grants all manner of ridiculous ex parte orders to shield the big crooks from prosecution.

Tony Ademiluyi, Lagos

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MIDWEEKPOLITICS Litmus Test for a Governor

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY GOVERNANCE IN PHOTOS

Igbawase Ukumba writes that on August 8, Governor Abdullahi Sule of Nasarawa State will take his first litmus test to determine his capacity to sustain the leadership position of the All Progressives Congress in the state

Sule

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rior to the election of Governor Abdullahi Sule as the fourth democratically elected governor of Nasarawa State in 2019, it was on record in the annals of Nasarawa State that since creation of the state in 1996, the northern senatorial zone, where Governor Sule hails from, had never governed the state; whereas the southern and western senatorial zones of the state have governed the state right from the inception of the present democratic dispensation.

However, a move by the immediate past governor of the state, Senator Umaru Tanko Al-Makura, in 2018 broke the jinx of political marginalization of the Northern Senatorial Zone of the state, which subsequently paved the way for Governor Sule to finally emerge victorious at the polls in 2019 as governor of the state. He had initially met a brick wall from some political gladiators from the Western Senatorial Zone of the state insisting that the seat of the governor of the state for the 2019 general election should be zoned to their western zone.

Despite the agitations from the Western Zone to have the governor’s seat back after governing the state for eight years, Ex-governor Al-Makura, like other governors in the county, remained resolute and consequently produced his successor, Abdullahi Sule, on the platform of his political party, the All Progressives Congress (APC) in the 2019 polls.

Therefore, following the death of a member of the Nasarawa State House of Assembly, Late Adamu Suleiman, who represented Nasarawa Central State Constituency, by the dreaded COVID-19 pandemic, the Independent National Electoral Commission (INEC) has fixed August 8, 2020 for a bye-election to fill the vacuum. Here lies the task ahead of the governor to prove his worth.

Be that as it may, Governor Sule had met with APC stakeholders in Nasarawa Local Government Area for the nomination of the party’s flagbearer which paid off for a hitch free primaries of the APC, whereas the main opposition political party in the state, Peoples Democratic Party (PDP), on the other hand was engulfed in an internal crisis. However it was gathered by THISDAY that the party had agreed on a consensus flagbearer for the August 8 bye-election.

Nevertheless, the APC selection process, in compliance with the instruction handed down by Governor Sule, produced Mr. Ismaila Ibrahim Danbaba as winner of the primary election. Danbaba polled a total votes of 106 to defeat his close rival, Hajiya Hajara Danyaro who scored 59 votes, with Jibrin Abdullahi coming behind with 37 votes, while Adamu Awaje got 1 vote in that order.

On the other hand, the main opposition political party in the state, Peoples Demo-

cratic Party (PDP), which was engulfed in an internal crisis, also reached a similar consensus arrangement from information reaching THISDAY to nominate Mr Nuhu Bage Bawa as its flagbearer to the August 8 bye-election.

Sadly, the PDP may be going to the polls for the Nasarawa Central State Constituency bye-election with a divided house following a judgement by a state High Court sitting in Akwanga, the headquarters of Akwanga Local Government Area of the state, that annulled the congresses conducted by the PDP in the state.

Presiding Judge of the court, Justice Mustapha Rahamat, had annulled the PDP congresses while delivering judgement in the case brought before the court by some members of the party challenging the congresses held on March 21, 2020. The PDP Chairman of Akwanga Local Government, Alhaji Idris Jidde; and 14 others, had approached the court seeking the court to stop the party from conducting the congresses.

It was on record that the court granted the injunction pending the determination of the matter, but it was alleged that the PDP went ahead and conducted the congresses in violation to the order of the court, hence Justice Mustapha Rahamat said that the wards and Local Government congresses conducted on March 7th and 21st by the party were done in violation of the order of the court.

Justice Rahamat said: “The congresses were done in violation to the order of the court and contrary to the laws of the party. As such, it is therefore illegal and unconstitutional and the party should put machinery in motion to conduct a fresh congresses.”

As the crisis rocking the Nasarawa State chapter of People Democratic Party (PDP) over party congress soars, some concerned members of the party from Nasarawa Eggon Local Goveenment Area of the state had rejected the suspension of Senator Solomon Ewuga from the party for the sake of peace and progress of the party in the state.

In a press statement, chairman of the Concerned PDP Support Group, Adamu Ali Embugu, said the suspension of Senator Ewuga and some party stalwart from the party will cause more crisis and disunity instead of repositioning the party to regain its lost glory. He said the Concerned Members of the PDP in Nassarawa Eggon were committed about returning the party to power; adding that state leadership of the party should allow full participation of people in deciding who spearheads the affairs of the party in the state.

According to the statement, “in the best interest of democracy and constitutional means we proposed that the national leadership should dissolve the Francis Orogu led Exco and constitute a caretaker committee to oversee the affairs of the subsequent congress in the state.”

“We are calling for fresh ward congress so as to have a harmonious party structure at all levels in Nasarawa State. Any attempt to hold on to the suspension of Senator Solomon Ewuga, Honourable Elayo, and Honourable Onawo would suffer resistance and possibly collapse of the PDP in Nasarawa State.”

Meanwhile, devastated by an envisaged collapse of Nigeria’s former ruling political party in Nasarawa State, the chairman of the Board of Trustees of the PDP, Senator Walid Jibrin, stood up to his responsibility in order to contain any possible exit of party stalwarts from the political scene of the state as he assured all members that he will work hard with the National Working Committee (NWC) of PDP to see to an end of the crisis rocking the party.

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

Bayeisa State Governor, Senator Douye Diri (left), presents a special souvenir to the new Assistant Inspector -General of Police, in charge of the newly established Zone 16, Nigeria Police Headquarters, Yenagoa, AIG Austin Agbonlahor, during a courtesy call at the Government House, Yenagoa

L - R: Minister of health, Osagie Ehanire , Deputy Speaker, Rep. Ahmed Idris Wase, Rep. Nkiruka Onyejeocha, Speaker, House of Representatives, Rep. Femi Gbajabiamila & Secretary to the Government of the Federation, Mr. Boss Mustapha at the retreat for leadership & members of the House of Representatives on the updated Legislative agenda ( 2020 - 2023 ) in Abuja

From left, Osun State Chairman, All Progressives Congress, Prince Gboyega Famodun; the Olobu of Ilobu, Oba Ashiru Olatoye Olaniyan; Deputy Governor Benedict Alabi; Governor Adegboyega Oyetola; the Olufon of Ifon, Oba Almoroof Adekunle Magbagbeola; Osun Commissioner of Police, CP Undie J. Adie and others, during a peace meeting between the two royal fathers, at the Banquet Hall, Govrnment House, Osogbo

L-R; Ekiti State Commissioner for Women and Social Development, Mrs Moji Fafure; Deputy Commissioner of Police in charge of the State CID, Amaechi Oliver; Deputy Commissioner of Police (Finance & Administration) DCP John Ayuba Babangida; Ekiti State First Lady and Chair, Ekiti State Gender-Based Violence Management Committee, Erelu Bisi Fayemi; and State Attorney-General / Commissioner for Justice, Mr Olawale Fapohunda; during the presentation of a hilux van, and office equipment to the State Juvenile and Women Welfare centre by the GBV Management Committee in Ado-Ekiti

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

Passion for Development While the three flyover bridges simultaneously under construction in Port Harcourt are yet to be completed, Rivers State government has approved N18billion for the construction of the fourth one, Davidson Iriekpen writes

Governor Wike inspecting some of the bridges in Port Harcourt

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or Governor Nyesom Wike of Rivers State, there is no limit to what he can do for his state and people. Last week, he again approved N18billion for the construction of fourth flyover at the GRA Junction along the Port Harcourt-Aba Expressway to address the perennial the traffic problems usually experienced in the axis by the people of the state.

Giving details of the project, the state Commissioner for Information and Communications, Mr. Paulinus Nsirim, said the approval would cover the dualisation of Tombia Extension Road to Ikwerre Road and Ezimgbu Link Road to Stadium Road. He said the projects which would be executed by Julius Berger Nigeria Plc, would expand the length of the roads by 680 meters while that of the flyover would be 502 meters.

Nsirim who added that the state government took the decision to further strengthen its infrastructural development drive, revealed that 20 indigenous engineers would be trained by Julius Berger Nigeria Plc during the contract as part of government’s policy on youth empowerment and skill acquisition. He also said that the government approved the building of a new legislative quarters for members of the House of Assembly following the dilapidation of the former quarters, adding that the move was in line with Wike’s commitment to ensure that the three arms of government worked in synergy for the overall development of the state.

Currently, the Wike government is embarking on the construction of three flyover projects at Rumuogba (Artillery Junction), Rumuokoro Roundabout (Okoro-nu-odu), and Rebisi (Garrison Junction), aimed at addressing the traffic problems in the city of Port Harcourt.

The projects when completed will put a smile on the faces of the people who are currently going through hell moving from one point to another.

The projects, which were initially scheduled to be completed in February 2021, would now be delivered before the end of the year.

Just when many were thinking that the government would allow the three flyover projects simultaneously going on to be completed before embarking on another one, the governor approved the construction of a new one. This, to many observers, indicates Wike’s passion for development.

Wike while speaking to journalists after inspecting the flyover bridges recently, said his administration was mindful of every promises made to Rivers people which include delivering critical infrastructure that would improve the economic status of the state and the life of the people.

"If you look at the Rebisi Flyover at Garrison junction, you'll see that they are working hard to finish with the concrete super structure by October so that motorists can ply the bridge.

That's what I've always said, when you give work to good contractors, you will be comfortable that those jobs will be delivered. From what I have seen, ahead of their schedule of the work, it is important to know that Julius Berger is committed to make sure they handover the projects even before the time scheduled," he said.

Commenting on the Rumuola flyover that is billed for expansion, the governor said the chaotic traffic situation experienced there would be addressed with the planned expansion.

"Rumuola flyover was built under the military government. When there is maintenance work to do or a vehicle breaks down, it causes a lot of traffic jam, so the need to expand the flyover became necessary. The contract papers have been signed and I believe they are preparing to

One of the bridges under construction go to site within the next few days. Generally, we are happy to achieve such feat within the shortest possible time and with the of quality job done. We want the people to be confident that we will not take their mandate for granted and they will not regret reelecting us," he added.

Regional Manager, Julius Berger Nigeria PLC, Mr. Juergen Fischer, said they have increased the pace of work at their sites and with the concrete super structure laid, the Rebisi flyover will be delivered at the end of October 2020. He explained that while the Rumuogba Flyover will completed one month later, the Rumuola flyover will be expanded to allow for service lanes, a new roundabout, and installed traffic light.

Anybody who knows Port Harcourt well, know that traffic challenges are the city’s greatest headache and this is what Wike is trying to tackle head on. For those who live and do business in the state, modern urbanisation has made the flyovers an inevitable infrastructural development component because they are built over man-made structures such as roads and intersections, to prevent congestion and provide a more convenient way to navigate through the traffic. They are also built to provide safe and convenient passage for the pedestrians, help to streamline the traffic control system by reducing traffic gridlock and minimise the risk of off-road crashes, amongst other advantages.

One of the key pledges Governor Wike made to Rivers people when he assumed office in 2015, was to embark on comprehensive urban renewal as well as actualise the age-long yearnings of the indigenes and residents of the local government areas to be able to connect and access the rest of the state by tarred roads and durable bridges.

Five years into his tenure, the urban renewal programme in the capital city and indeed the interconnectivity across the length and breadth of the state is on course.

The capital territory of Port Harcourt and Obio/ Akpor is undergoing massive construction as restoration works, including underground drains, sidewalks, green areas and street lights on most of the roads in the old and new Government Reservation Areas are all at very advanced stages of completion. This is in addition to the three flyovers that are progressing simultaneously and expected to beat the deadline of February 2021.

The construction of the fourth flyover bridge across GRA junction and accompanying dualisation of Ezimgbu road and the dualisation of

Tombia Extension, GRA to link Ikwerre will all be delivered on schedule.

There are other road projects simultaneously going on across the state. For instance, construction work including the dualisation of Kira-Sapkenwa-Bori-Kono, straddling three Local Government Areas in Ogoni heartland, has almost been completed and the construction of Oyigbo (Mbano camp) to Iriebe, linking Oyigbo and Obio/Akpor Local Government Areas of the state, has already been completed and would have been inaugurated if not for the outbreak of COVID-19.

Also completed virtually, are Alesa- Agbonchia - Oyigbo road linking Eleme and Oyigbo Local Government Areas of the State; and the Rumuakunde and Isioudu communities’ roads in Emohua Local Government Areas of the state.

Similarly, the second phase of Isiokpo community internal roads in Ikwerre Local Government Areas have been completed and the construction works on the 16.85 kilometers Rumuji-Ibaa-Isiokpo road in Emohua and Ikwerre Local Government Areas have passed the 90 per cent completion level, while the dualisation of the 23 kilometers Omoku-Egbema road in Ogba/Egbema/Ndoni Local Government Area has progressed beyond 50 per cent.

In Etche Local Government Area, the 21.3 kilometers Odufor/Akpoku/Umuoye road has since crossed 70 per cent construction level, while the Aker-base road in Obio/Akpor Local Government, the Ula Ehuda-OdiokuAnwunugboko-Ubeta-Ihuechi-Odiereke road; the Odiokwu internal road network in Ahoada West Area as well as the Abonnema ring road in Akuku Toru Local Government Area, and the Umuma road in Omuma Local Government Area, and the Sime-Eteo-Nonwa road connecting Tai and Eleme Local Government Areas, are all virtually ready for inauguration once the coronavirus threat is successfully mitigated to allow for such activities.

With s visionary drive to ensure the delivery of excellent and legacy infrastructural projects, the Wike administration has pursued the accomplishment of its promise to complete the long-abandoned roads to the coastal communities of Opobo and Andoni in Opobo/Nkoro and Andoni Local Government Areas of the State and the Ogoni-Andoni-Opobo (Unity) road. In fact, citizens of Opobo Ancient Kingdom drove home for the first time in centuries only last year.

The many projects the governor is embarking on simultaneously has made infrastructural development in the state an inclusively holistic and contrary to the notions and misleading opinions of critics, who have not traversed the state to see and confirm for themselves, the transformational and aesthetic metamorphosis which is not just taking place all over the state, but opening up and interconnecting the entire state into one cohesive entity.

Lagos State has often served as a reference index in developmental analysis, but many will agree that, despite the impressive strides it has achieved, there is still the excruciating hardship and suffering of endless and frustrating gridlock, because of the absence of well structured roads and bridges network, thus leading to uncontrollable congestion on the few alternative outlets out of the city.

This is exactly what the Rivers State Government, already conscious of the traffic build-up that overwhelms critical points of the city even now, is taking concrete and proactive measures to address and resolve in future, with the construction of the flyovers.

In addition to easing the traffic tension, the projects are also mainstreaming youth empowerment and skill acquisition for indigenous engineers, apart from generating employment and empowering local contractors.

For instance, 20 indigenous engineers would be trained by Julius Berger Nigeria Plc during the contract period as part of government’s policy on youth empowerment and skill acquisition and that is just the initial projection. The prospects had been more expansive and comprehensively favourable, if not for the coronavirus outbreak that has drastically impeded robust operations and activities.

For many who do understand what the governor is doing, he is definitely building for the future. The capital city and territory is expanding rapidly and population explosion with its attendant challenges in a burgeoning commercial hub, which almost every part of the state is gradually transforming into with the brilliant economic module of strategically concessioning major government owned assets to willing and capable private investors, is a critical futuristic component that must be addressed today.

Observers believe that all what Wike is doing now are what his immediate predecessor failed to do. They contend that if his predecessor had done a quarter of what he is doing now, even with all the resources at his disposal, the state would have been better for it.

Justice Suzzette Eberechi Wike, while hosting women and children in 2015 had expressed confidence that based on her husband’s antecedence and passion to satisfy others, he would unleash positive development strides on state.

She said: “I know the man I am married to.

He is a determined and focused man. He will continue to deliver in line with the promises he made to the people. I know he will live up to the expectations of the people.�

This, to many observers, is what the people of the state are witnessing today. “In a very long time to come, it would be difficult to have a governor like Wike who is very passionate to develop the state. He is a rare gem.� “When his wife, Justice Wike, in 2015 told us that her husband, based on his antecedence and passion to satisfy others, would wonders in the state, I thought it was just another political talk. I know better now. The governor is simply unequalled and unparalleled,� said Nnamdi Ogbu.

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Deceased Rangers Player and Ugwuanyi's Lifeline to His Family Samson Ezea

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nugu Rangers Football Club's striker, George Ifeanyi Onwubiko was as of January this year alive, energetic and fit. He was playing for his club Enugu Rangers. With the abrupt outbreak of COVID-19 pandemic, the Nigerian Professional Football League (NPFL) 2019/2020 was suspended. Having been away from his family for long, the young Onwubiko in March decided to use the opportunity of the league suspension to travel and reunite with his family in Lagos.

Unfortunately and sadly, Onwubiko met his untimely demise in a ghastly auto crash at Abudu, Edo State on his way to Lagos.

His demise left his family, friends and relations heartbroken, helpless and devastated.

To his team mates, Rangers management team and family members, it was a prime and one death too many.

This is not because George Onwubiko died young and suddenly, but because other Nigerian home based players, who died in active service were neither honoured, remembered nor their families taken care of after, not even by the government. That has been the case before now.

Such sudden death of Nigerian home-based players in active service have always left their immediate families sorrowing and suffering endlessly. Because of this, many Nigerians had expected that late George Onwubiko's case won't be different.

Afterall, Onwubiko was playing for a government owned-club, before his sudden demise. Besides, players of many government and individually-onwed football clubs in Nigeria were being owed sign-on fees, salaries and allowances.

So not many were expectant or optimistic of any lifeline or immediate relief for George Onwubiko's family, not from government especially now that COVID-19 pandemic has made nonsense of every cash receipt projections.

But Enugu State Governor, Rt. Hon. Ifeanyi Ugwuanyi has once again shown that he is different, that he is a visionary leader with tact.

He is the man who sees tomorrow and always plan ahead of time. That he is hardly taken or caught unawares, especially when it has to do with the welfare or wellbeing of the people.

Abigail George, daughter of the deceased Rangers Player, Ifeanyi George Onwubiko; Enugu Rangers Manager, Davidson Owunmi; Enugu State Commissioner for Sports, Manfred Nzekwe and others during the presentation of N20million cheque to the family of the deceased in Enugu recently This he demonstrated, when his government in 2017 approved and arranged life assurance cover package for Enugu Rangers players and officials of which George Ifeanyi Onwubiko was one of them. He did this without any inkling that any of the Rangers players will die soon. But he knows that death is inevitable for every human, especially for club players that are always on the move from one state to another to play league matches.

So with Onwubiko's demise in March, his immediately family was provided with lifeline recently with the presentation of a cheque of N20m insurance package in Rangers Camp at Nkponkiti Road, Enugu in a sobered and emotional atmosphere by the Premier Brokers limited alongside Rangers management team and Enugu State Government functionaries.

The event which took place on July 21, 2020 also coincided with Onwubiko's posthumous birthday.

The sum represents the player’s life insurance policy which Enugu State Government

led by Ugwuanyi, graciously approved for each player and official of Enugu Rangers.

Speaking at event, Enugu Rangers manager Prince Davidson Owumi thanked Gov. Ugwuanyi for his approval of the Insurance and subsequent renewals of the policy that started since 2017/2018 football season.

With this proactiveness, Ugwuanyi's administration has not only motivated the Rangers players and officials to continue to put in their best in their assignments, he has shown and assured them that their future and that of their families are secured in the club and their commitment and industry to the success of the club can never be in vain.

The insurance package to late Onwubiko's family which is first of its kind in the country's professional league by a government to a deceased player will set a new standard in the hiring and management of players and officials in Nigerian National League.

It will spur and challenge local club owners in Nigeria, be it government, individual or

organisation to emulate or follow the path of Enugu State Government by approving and packaging comprehensive life assurance cover for their players and officials. This will not help to improve the league, such will help to provide the needed succour or lifeline to the family and dependants of the players and officials of the clubs in case of eventuality or the unexpected happens.

If properly invested and managed, the N20million insurance package will not only keep late George Onwubiko family and dependants going and comfortable, it will lift them into the millionaires status in Nigeria.

This timely lifeline to a young, bereaved and depressed family of late Onwubiko by a visionary, proactive and compassionate leader, will remain evergreen in their family members' memories and remain a reference point in the country's football circle. ...Ezea, wrote from Independence Layout, Enugu.

CSP Oyin Honoured with Doctorate Degree by American University Sunday Ehigiator

...Distributes palliatives to Lagos communities

he Divisional Police Officer (DPO) of Aswani Division (Area ‘D’ Command), CSP Oyin Francis, has been conferred with an Honorary Doctorate Degree by the European American University, Commonwealth of Dominican Africa Regional Operation, for her outstanding contributions to national development in Nigeria.

CSP Oyin, as she is popularly called was among other recipients of the Doctor of Arts Honorary Award as bestowed by the university at the event which took place over the weekend in Lagos The University’s Coordinator in Nigeria, Dr. J.C. Egbuta, while conferring the award said “Oyin was found worthy in character and recognised for her contributions to the

economic, political and social welfare of the society.�

CSP Oyin is a graduate of Sociology and holds a Masters Degree in Industrial Labour Relations both at Delta State University, Abraka.

She enlisted into the Nigeria Police Force as a cadet (ASP) Assistant Superintendent of Police in 2002, and rose through the ranks.

Speaking to THISDAY, CSP Oyin who was a one-time Public Relations Officer of Police Officers Wife Association (POWA), and presently the Social Secretary of POWA Lagos State Chapter described the recognition as distinguishing.

According to her, “I am very delighted to have been so recognised. It is very distinguishing to be this honoured by an international

Divisional Police OďŹƒcer (DPO) of Aswani Division (Area ‘D’ Command), CSP Oyin Francis

CSP Oyin distributing relief materials to beneďŹ ciaries

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university of this magnitude. It only means more work for me in protecting the lives and properties of every Nigerian.�

The multiple award winning officer also said, the “Nigeria Police is an organisation that should be appreciated rather than dishonoured. “While the police is busy pursuing strategies to enhance operations for the safety and security of citizens, critics are busy looking for opportunities to condemn policemen and officers�.

She however noted that, if the people really understand the extent of sacrifice and risk that police do and face, “they will appreciate us better�.

Meanwhile, with the aim of easing the effect of the COVID-19 pandemic on the people,

and also collaborating government efforts in curbing further spread of the virus, CSP Oyin donated some relief items to residents of Aswani and Okota communities.

In the recently held outreach tagged, ‘COVID-19 Outreach’, she gave out thousands of sanitizers, cooked food packs, foodstuffs, cartons of noodles, among other items.

According to her, the outreach was also a platform to preach to the residents to ensure social distancing, to wear face masks, wash and sanitize hands regularly with 80 per cent alcohol based sanitizers etc. “Collective prevention and care will help defeat the coronavirus pandemic and help return our once safe environments. Whatever anyone does well is a function of divine enablement.�

She concluded that, “whoever finds delight in giving, even out of his or her little resources, does God’s work and surely makes the world a better place.�

Among several beneficiaries of her charitable gesture was a middle-aged woman, simply identified as, Mrs. Tomori. She expressed delight and fervently prayed for more of such largesse from benevolent members of the public. “It is the first time this kind of gesture is coming to us from the police and a woman to be precise. I am grateful and so happy to have benefited from this gesture. “May God continue to bless her, and I pray that more people emulate her especially now that things are becoming more difficult for us. These foodstuffs would go a long way to sustain me and my family but we need more of this. “I am currently not working because the company I used to sweep for has asked me to stop working because of the pandemic. My husband is also not really doing well at the moment in his trade and my two kids are still young. So we need this type of consideration especially from the government.�

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BUSINESSWORLD

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875

Í° Ͳ Ëœ Í° ÍŽ Í° ÍŽ MONEY MARKET OVERNIGHT OBB

REPO 2.20 1.60

CALL 1-MONTH 3-MONTH

3 4 6

S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

587.32% 0.00% 4.35%

S & P INDEX 1/4 TO DATE YEAR TO DATE

4.35% 22.06%

EXCHANGE RATE N381/1US DOLLAR* ĚŠ

Quick Takes Wema to Hold Educational Award

PROJECT INAUGURATION

L-R:ExecutiveViceChairman,NigerianCommunicationsCommission(NCC),Prof.UmarDanbatta;Governorof BornoState,Prof.BabaganaZulum;Minister ofCommunicationsandDigitalEconomy,DrAliPantami; MinisterofFinance,BudgetandNationalPlanning,ZainabAhmed;MinisterofWorksandHousing, Babatunde Raji Fashola, and Managing Director, Nigcomsat, Mrs. Abimbola Alale, during the virtual inauguration of ITprojects executed across the county, heldinAbuja...recently

CBN Disburses N635bn to 608 Projects in Agric Credit Scheme Obinna Chima The total amount released by the Central Bank of Nigeria (CBN) to farmers under its Commercial Agriculture Credit Scheme (CACS) since inception stood at N635.39 billion as at the end of the first quarter 2020.

The CBN disclosed this in its first quarter 2020 economic report.

In all, a total of 608 projects benefitted from the project.

On the other hand, the total amount repaid under the CACS since inception stood at N406.29 billion as at the end of March 2020.

According to the report, a total of N539.8 million loans was also guaranteed to 3,161 farmers under the Agricultural Credit Guarantee Scheme (ACGS) in the first quarter of 2020. This represented a decrease of 53.9 per cent and 34.8 per cent below the levels in the preceding quarter and the corresponding period of 2019, respectively.

ECONOMY The sub-sectorial analysis showed that food crops obtained the largest share of the total, with N291.6 million (54.0 per cent) guaranteed to 1,958 beneficiaries; followed by the livestock, N115.2 million (21.3 per cent) guaranteed to 430 beneficiaries; and cash crops, N64.9 million (12.0 per cent) guaranteed to 335 beneficiaries.

Fisheries, mixed crops and ‘Others’ received N36.1 million (6.7 per cent), N16.8 million (3.1 per cent) and N15.3 million (2.9 per cent), respectively, guaranteed to 121, 233, and 84 beneficiaries.

Analysis by state showed that 30 states and the Federal Capital Territory benefited from the scheme in the review quarter, with the highest and lowest sums of N54.8 million (10.2 per cent) and N1.8 million (0.3 per cent) guaranteed to Ogun and Nasarawa states, respectively.

It stated that agricultural

activities in the first quarter of 2020 were predominantly preparation of land for early wet season planting, harvesting of tree crops and irrigation-fed vegetables.

In the livestock sub-sector, farmers continued to intensify efforts towards raising of poultry birds and cattle in preparation for the 2020 Easter festivity.

During the quarter, the African Development Bank (ADB), in collaboration with the Federal Government, signed a US$500 million memorandum initiative to develop four Special AgroIndustrial Processing Zones in the country. “The Special Agro-Industrial Processing Zones are designed to concentrate agro-processing activities within areas of high agricultural potentials to boost productivity, integrate production, processing and marketing of selected commodities. “The initiative is capable of boosting the structural trans-

formation of the economy by providing opportunities for public and private sector investments,� it added.

According to the report, following the outbreak of the COVID-19, which led to lockdown in major cities around the globe, the Nigerian agricultural sector in Q1 2020, witnessed a huge demand uptick arising from panic buying, mostly for essential commodities.

The panic buying was fueled by the speculations of economic slow-down. “The development has also led to increase in commodity prices in the market. However, towards cushioning the effect of the COVID-19 pandemic on the economy, the CBN, in support of palliative measures, put in place by the government, reviewed interest rates on all applicable intervention facilities to all sectors from nine to five per cent, per annum for a period of one year, starting with the review quarter.

FMDQ Restates Commitment to Derivatives’Market Development Goddy Egene The Group Managing Director/ CEO of FMDQ Holdings Plc, Mr. Bola Onadele. Koko, has expressed the company’s commitment to the development of a thriving derivatives market in Nigeria by launching new hedging products in 2020.

Onadele made the commitment while speaking at the annual general meeting (AGM) of the group in Lagos, noting that with the support and collaboration of its stakeholders, it would further transform the derivative market.

According to him, the group would continue to enhance the readiness of FMDQ Clear to operate a fully-fledged central counterparty (CCP) upon regulatory approval, whilst making efforts through FMDQ Depository to facilitate interoperability amongst the central securities depositories in Nigeria to enable

ECONOMY seamless processing of clients’ transactions. “Also, with the incorporation of its newest wholly owned subsidiary, FMDQ Private Markets Limited (FMDQ Private Markets) in January 2020, the group shall focus on promoting the development of organised private capital, providing the much-needed transparency in the market for private debt and equity securities, by eliminating information asymmetry and ultimately improving credibility in the market for private issuances,� he said.

Presiding over the FMDQ Group AGM, the newly appointed Group Chairman of the Board of Directors, Dr. Kingsley Obiora, presented the financial statements for the year ended December 31, 2019, saying FMDQ

achieved a resilient performance amidst the challenging operating environment, due to strategic initiatives implemented in its first strategic lustrum (2015 - 2019).

He said: “2019 was a year of growth, expansion, and reorganisation for FMDQ, with the consolidation of its flagship wholly owned subsidiary, FMDQ Exchange, the second year of the operationalisation of its wholly owned subsidiary, FMDQ Clear, and the activation of another wholly owned subsidiary, FMDQ Depository, making significant progress in its bid to help de-risk the financial markets by constructing market infrastructures in all components of the capital market value chain, from pre-trade, trade to post-trade.�

He further stated that through FMDQ Securities Exchange, the group admitted a total of 84 securities split across bonds, commercial papers (CPs), and

funds from various sectors for listing and quotation on the platform of its platform, in addition to the registration of several CP Programmes. “2019 also saw the strengthening of the operational and strategic capacities of FMDQ’s clearing, settlement, and depository businesses in line with their drive to create value for stakeholders in the Nigerian financial market. Consequently, FMDQ Clear focused on building operational readiness and capabilities to extend its services from just clearing and settlement to providing CCP services in the near term, whilst FMDQ Depository leveraged the digitised and integrated structure of FMDQ Group to operationalise its new business; yielding positive results and further paving the way for the Depository to actualise its vision of becoming the Depository of Choice in Nigeria,� Obiora said.

Wema Bank is set to award 20 school children with a N50, 000 School Support Fund in its educational award. The annual award, which is available to holders of the bank’s Royal Kiddies Account is to hold in September, 2020.

A statement from the bank explained that to qualify, parents and guardians are to open a Royal Kiddies Account in any Wema Bank branchclosetothemwithaminimumofN100,000beforeSeptember, According to the bank, parents and guardians who already have a Royal Kiddies Account can top up their balance to N100, 000 before the deadline to also qualify. The winning accounts would be notiďŹ ed of their reward after the ďŹ nal selection which is set to hold on September 18, 2020.

The Royal Kiddies account, a savings account opened by parents and guardians enables them to save up for their children’s education. As a Royal Kiddies account holder, a child gets to enjoy a competitive interest rate of 4.75 per cent on savings, an e-Purse for electronic transactions and many other incentives including an opportunity to win the annual Wema Educational Award. “It is our way of supporting parents in educating their children and we are happy with the impact we have made in the past years. “This year, education has been greatly hampered by the breakout of the COVID-19 pandemic and we hope this will go a long way to support this year’s winners as they settle into the new normal.

Under 40 CEOs Marks Fifth Anniversary

Under 40 CEOs, a business platform for young business leaders and aspiring entrepreneurs, is celebrating its ďŹ fth anniversary. It explained that since its launch in 2015, the platform has fostered an activecommunityofyoungpeoplewhoareleadingthetransformation of African economies. It is also nurturing the next generation of trailblazers and change drivers.

Over 100 episodes of media content—featuring inspiring stories of young business leaders from East, West, and South Africa—have been recorded. And several curated events have been organised.

These include the Under 40 CEOs Forum, Under 40 CEOs Live, Under 40 CEOs Networking Events, and an International Women’s Day event in Nigeria, Ghana, Rwanda, and South Africa.

Speaking on the anniversary, the Executive Director Under 40 CEOs Africa, Familusi Akin Babajide, said: “Five years is a great milestone to recommit to our vision and mission. In these times, especially, young African business leaders have had to show resilience. At the Under 40 CEOs, we will continue the work of supporting these businesses to ensure that they not only survive but thrive.â€? “Ahead of the milestone celebration in October, the governing body of the Under 40 CEOs is opening up its platforms to several young entrepreneurs and aspiring executives, who possess the entrepreneurial qualities and drive, to spotlight and enable their businesses. It will also reward current members and new ones with premium oerings, as well as funding,â€? a statement quoted the organisation to have said.

New Amber Drink Gains Market Traction

Barely a month after its launch, the new Amber Energy Drink has started gaining traction and driving sales. This was the situation during a recent market check of the product in major Lagos stores.

The new entrant is a major boost to the energy drink sector which market research forecasts a yearly consumption growth of over 6.5 per cent by 2022. This is slightly an increase from the ďŹ ve per cent annual growth experienced between 2014 and 2016, which puts the average consumption level at about 25.5 liters according to the World Health Organization (WHO) latest report.

Speaking at the oďŹƒcial launch of the product, the General Manager of Amber Drinks, Ms. Lola Adedeji, had stated that the new product oered a healthier option for beverage and non-beverage lovers.

She said, “the new drink parades natural ingredients, essential Vitamins and nutrients in addition to Guarana spice- a natural caeine, leaving consumers active, energised and healthy all day. “It is scientiďŹ cally formulated to provide an incredible energy boost for those who lead active and exhausting lifestyles, ranging from sports to entertainment.â€?

“COVID-19 may have necessitated consumers to adopt electronic payments for the first time but as the impact of the virus wears off eventually�

Founder/Group Chief Executive Officer, Interswitchr,

Mitchell Elegbe

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Oyegunle Unveils Agenda for CIIN Stories by Ebere Nwoji The new president of the Chartered Insurance Institute of Nigeria (CIIN), Muftau Oyegunle, has disclosed his six point agenda for the institute during his two years.

In his acceptance speech during his recent investiture as the 50th president of the institute, Oyegunle, who took over from the erstwhile president, Eddie Efekpha, said, “current development in the world call for our collaborative efforts to reinforce professionalism.� “The Nigerian economy in general and the insurance industry is not immune from the vagaries of the social and economic disruptions caused by the pandemic. “The resultant harsh

business environment has become a threat which we must collectively confront for survival. “The theme of my presidency is therefore borne out of the conviction that we can achieve greater successes for our industry and profession if we reinforce professionalism and ethics in reaction to the new order.�

Anchoring the theme of his administration on, ‘reinforcing professionalism and ethics in the new order,’ the CIIN president, listed his focus to include digital transformation of the institute, reinforcement of the relevance of professionalism, re-energising the institute’s administrative structure, insurance awareness and youth mentorship initiatives,

infrastructural development and advocacy and collaboration with various associations in the private sector.

He said transformation of the institute digitally, would see his administration completing the institute’s computerisation projects .

He added that it will also involve continuation of the institute’s e-library project as well as commencement of e-examinations.

Reinforcement of the relevance of professionalism, according to him, will involve surveying and bridging the gap of the technical skills of insurance professionals.

According to him, it will also entail harnessing the knowledge of insurance senior professionals as well as commencement of technical research for the insurance industry.

Leadway Advises Operators to Prioritise Cyber Risk Insurance Business operators have been advised to priorities cyber risk insurance as part of risk mitigation system.

The Executive Director, General Business, Leadway Assurance, Adebola Adegbayi, who gave the advice during webinar on the rising incident of cyber-risk organised by her company, said this became necessary especially now that business operations are delicately hinged on remote accesses. “The shrewdness of the company’s management over the years has informed several innovations that would soothe any impending crisis in businesses and individual lives. “Cyber-risk insurance policies have been robustly re-engineered for organisations and individuals in the face of rising cyber-attacks and fraud on businesses,� she said. Adegbayi, revealed that Leadway cyber-risks insurance policy is now optimised to provide first-party coverage and third-party liability risk covers on cyber-perils for organisations, while the

individual policy coverage is on the verge of introduction into the market once approved by the National Insurance Commission.

Speaking during the discourse, Partner, Technology Advisory Services, KPMG Nigeria, John Anyanwu, said: “Since the start of the pandemic, there have been increased dependency on the internet and mobile apps, and more reliance on digital channels. This has brought about a noticeable increase in cyber-attacks globally, and it has posed potential risks to businesses.�

He added that every organisation needed to implement prevention, detection, and responsive measures against the risks of cyber-driven attacks and fraud, noting that if organisations implemented the right cybersecurity measures, they would function with confidence regardless of the times.

Also speaking, IT-Security expert, Africa and the Middle East, Munich Re, Tariq Fadai, gave insight into how cyber

attackers operated, recommending defense mechanisms organisations could adopt.

He further suggested that organisations with poor security hygiene need to change, noting that with the pandemic forcing corporates to deploy remote-work conditions and routines, systems have moved to cloud services with an increasing reliance on third party services. “There is a risk of unavailability of services due to overcrowding, and several organisations might experience data loss as well.

Every business owner should understand and make good use of important cyber-attack controls�, he added.

Also speaking, Head, Cyber Risks and Technical lines, Chubb Eurasia and Africa, Gilbert Flepp, emphasised on the need for organisations to institute maintenance of cyber-security protocol, endpoint detection and response tactics like implementing robust antiMalware control and learning how to administer a disaster recovery plan.

Veritas Kapital Assurance Posts N253m Profit Veritas Kapital Assurance Plc has recorded an improvement in its operations, recovering from a loss position in its 2019 financial year. It recorded with an increase in profit before tax of N253 million, compared with a loss of N50 million in the previous year.

This is even as it recorded a decline in management expenses by four per cent to N1.462 billion in 2019, from N1.530 billion the previous year, with a two per cent increase in net assets which during the year under review stood at N7.947 billion as against N7.781 billion in the previous year.

The company, disclosed these during its 43rd Annual General Meeting (AGM) in Abuja.

At the meeting held in line with the COVID-19 rules and

guidelines, the Chairman of the Board, Thomas Etuh, said the focus of the company for the year 2020 is “simply innovative�

According to him, “Innovation is how we will win in the highly competitive environment that we operate in that is also further challenged by the effects of the novel coronavirus pandemic. “This will include innovation in processes, enhancement of our product portfolio, development of mutually beneficial partnerships and collaborations, while ensuring simplicity in all areas of your company’s operations. We are confident that the future remains ours to shape.�

He said in spite of the pandemic, and the associated lockdown imposed

on a significant portion of economic activities by the federal government, the company has been providing seamless and uninterrupted service to customers and stakeholders.

He said though Nigeria’s insurance industry was yet to exceed a penetration rate of one percent, his company, expects that several nonregulatory growth drivers would reverse these trends, pointing out that microinsurance and index insurance in the agriculture sector are potential growth areas for the industry.

Also speaking, the company’s Managing Director, Kenneth E. Egbaran, said that the 2019 result was a great improvement when compared to where the company was coming from.

Corruption is Destroying Us A close friend of mine called me last week lamenting about the spate of corruption in the country. He had just watched the tragicomedy at the National Assembly where highly placed Nigerians entrusted with our national patrimony were ‘fainting’ and being revived.

According to him every week a new case of graft is unearthed. Being a man of the Christian fate, he likened corruption to the pestilence that walks in darkness and the destruction that lays waste at noonday.

Corruption in Nigeria is pervasive and its impact debilitating. It has deranged the economy, it is ravaging the quality of life of the people and assaulting our collective sensibilities with brazenness and impunity. The sad part is that it appears to be rising and unstoppable.

In recent times, we have been regaled with televised proceedings at various investigative panels at the National Assembly. The Magu Presidential Investigative panel, The Keyamo face off with the Senate Committee charged with oversight functions over the Ministry of Labour and Productivity. And the latest one trending, the NDDC probe.

The drama at the NDDC probe will win an award at the Oscars. It was a drama scripted with twists, subterfuge, denials, claims and counter claims and a breath-taking cliff hanger where the protagonist ‘faints’ but is revived and fit enough to walk briskly away from the venue of his ‘trial’.

And as we have not had enough of the shenanigans, the Lagos State Commissioner of Health, Professor Akinola Abayomi , disclosed while briefing the media on COVID-19 update last Thursday, that the state government spends about one hundred thousand Naira daily on managing each COVID-19 patient with mild to moderate symptoms and patients with severe cases could gulp as much as a million Naira daily at the different Isolation centres in the State. While it is a known fact the management of COVID-19 is expensive globally, one cannot help but wonder if the cost in Nigeria has not been ‘padded’.

The Nigeria I find myself in today is crippling.

It’s like we have lost all morals and nobody seems to know what to do about it. We have several crusaders who have put their lives and safety on the line to check corruption but their voices seem to be whispers in the wilderness.

Nothing is working!

A major challenge we have is that the people involved in corruption seem to be proud of themselves, promote themselves and show-off their ill-gotten wealth at every given point in time.

The public has also accepted corruption.

There is a pervasive mindset that the only way to get things done in the public or private sector is to offer some form of inducement otherwise what you want done will be pending for long or might not even get done.

The facets of our lives that corruption continues to destroy include: Service quality Getting good quality is a herculean task.

There is a belief that you must pay extra for services for which people are paid to deliver in the normal discharge of their duties. Nobody wants to work. You go to a restaurant, the security guard greats you profusely with the hope of getting money out of you, the store clerk serves you churlishly except you grease his palm, the gateman refuses to open the gate promptly for you because he was not given money the last time.

The quality of education has been eroded.

Parents cheating, students cheating, schools cheating is now the new normal. The first time I learnt a parent paid for his child to cheat was when I lost all hope for education in Nigeria.

The medical profession is not left out in poor service quality and the corruption pandemic. A mother recently shared the story of going to a hospital for a leg injury and saw that COVID was written as the cause of ailment for her son. When she challenged the attendant at the hospital, she was told not to worry about it, that it was what they had been advised by the higher ups to write. I have also seen instances of hospitals concocting bills and writing ailments they did not treat to enable them collect hefty sums from health insurance companies. Let’s not even talk about the counterfeit drugs that kill indiscriminately.

Thousands of people have lost their lives through corruption perpetrated by regulatory agencies. Tragic building collapses and fake drugs kill hundreds of Nigerians yearly because contractors use substandard building materials and importers bring in fake drugs while officials of regulatory agencies issue fake permits or take bribes.

Our Justice System Lacks Justice Corruption in the judiciary system leads to mis -carriage of justice. And the victims of offence suffer. They are either given unjust sentences, not tried or the guilty are let go after huge sums are paid to the members of the judiciary who have been entrusted to uphold the law. We have seen dirty cases of judges being accused of taking bribes to mete out crooked rulings.

The police in Nigeria is so corrupt that talking about them is almost a waste of time.

We all have so many stories about the police falling short of their mandate. My daughter recently reported a civil case to the police.

By the time the alleged suspect was visited, the police found enough evidence to show that the suspect was a serial fraudster. The suspect was non plussed and it was clear she was in cahoots with the police. No prize for guessing, no action was taken by the police.

This is just, one story, I have many and many of us have stories to tell.

The resultant effect is that criminals and culprits roam free and even commit more crimes.

I can go on and on, truth be told there is no silver bullet to fighting corruption, but we must end the brazenness by effective law enforcement to punish the corrupt. I recently watched in the news a Nigerian Senator in plenary passionately advocate for the implementation of the mosaic or sharia law of amputation of the limbs of corrupt persons. While I may not necessarily share his views, it shows the level of despondency our nation has sunk into.

We must promote transparency and openness; many government agencies have not had their books audited in decades. Kudos to the NNPC that published its 2018 audited report after several long years. How else would we have known that the nation’s three refineries recorded combined losses of N154 billion with the derelict Kaduna refinery was generating zero revenue but spending billions of naira as operational expenses.

To mitigate corruption, we must first interrogate our value system and ask ourselves simple but soul-searching questions. We must seek to answer questions like how greed and our propensity for corruption will affect our fellow man and posterity. It was Lakhdar Brahimi who said’’ I think a failed state is the responsibility of the people who have made that state fail, and those are generally the people of that country’’ We must not allow corruption to destroy us. t.BSJF 5IFSFTF 1IJEP JT B 4BMFT .BSLFUJOH 4USBUFHJTU BOE #VTJOFTT $PBDI &NBJM NQIJEP!FMFWBUP DPN OH 5XFFUFS IBOEMF!PTBU 5FM UFYU POMZ

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PEBEC and Urgency of Institutionalising Business Reforms Chukwuemeka Uwanaka

T

he extant 1999 Constitution of the Federal Republic of Nigeria, and previous Nigerian constitutions, identiďŹ es the economic development of Nigeria as one of the primary responsibilities of the government. Section II of the 1999 Constitution makes it the responsibility of government to promote national prosperity, and make policies that promote economic development.

Nigeria is classified as one of the low human development countries of the world, ranking 158 out 189 in the Human Development Index of the United Nations Human Development Programme.

With an understanding of the country’s economic history, as well as the collapse of the communist bloc led by the defunct Soviet Union in 1991, the Nigerian government has become more conscious of the role of the private sector in job creation and economic development.

This appreciation of the private sector influenced the establishment of the Presidential Enabling Business Environment Council (PEBEC) by government in July 2016. The Council has a mandate of proposing and coordinating reforms that will remove bureaucratic constraints, and make it easier and more enabling for organizations, businesses and investors to do business in Nigeria, as measured by the World Bank Doing Business Index.

This inter-ministerial and intergovernmental Council is chaired by the Vice President of Nigeria and comprises 10 ministers, the Head of Civil Service of the Federation, Governor of the Central Bank of Nigeria, the National Assembly, some state government representatives and the private sector.

The Enabling Business Environment Secretariat (EBES) is the operational arm of the Council, and is headed by the Special Adviser to the President on Ease of Doing Business.

PEBEC’s reform propositions are contained in its National Action Plans (NAP), and five of such have been launched since the establishment of the council. They include NAP 1.0 for February – April 2017 with a revised success rate of 82 percent; NAP 2.0 for October 3 - December, 2017 with a success rate of 52 percent; NAP 3.0 for February 5 - April 5, 2018 with 68 percent success rate; NAP 4.0 for March 1 – April 29, 2019; and NAP 5.0 for February 5 – April 4, 2020. The methodology for the work the council does is closely aligned with the ‘Ease of Doing Business Rankings’ (EoDBR) published annually by the World Bank.

The indices used in assessing how easy and enabling it is to do business in a country include starting a business; dealing with construction permits; getting electricity; registering property; and getting credit. Other indices are protecting investors; paying taxes; trading across borders; enforcing contracts; and resolving insolvency.

From her ranking of 169 out of 190 countries on the EoDBR for 2016 when PEBEC was established, Nigeria’s ranking has moved to 145 in 2017, 146 in 2018 and 131 out of 190 countries surveyed in the EoDBR for 2019. Nigeria has also moved from the ‘very difficult’ category on the Index in 2016, to the “medium� category in 2019- which represents significant improvement.

While Nigeria’s improvement on the EoDBR is appreciated, it is important to note that reforms require time for traction to be gained and sustained.

The nature of reforms contained in the NAPs cut across different sectors and ministries such as Transport, Aviation, Finance, Communications, Industry, Trade and Investment.

Registering a business now takes a shorter time and can also be done electronically, and chances of access to credit and resources for especially MSMEs that constitute a larger part of the economy are enhanced by both the Credit Reporting Act and Collateral Registry Act of 2017.

On the other hand, the use of Nigerian ports, especially the Lagos Port Complex, remains tedious and inefficient, making it less competitive for businesses to import and export raw materials and finished goods. Contracts enforcement and access to electricity also remain challenges. It therefore becomes imperative for the efforts made by PEBEC to be institutionalised, for increased chances of sustainability. This is especially so, as policy inconsistency remains one of the impediments to business development and investment promotion in Nigeria, and a lot of these inconsistencies occur when new administrations assume office.

An assessment of some of the socioeconomic development policies of previous governments demonstrates how inconsistency can be a challenge for attaining similar goals of government. Peoples

Osinbajo

Bank of Nigeria of 1989, Better Life Programme for Rural Women of 1987 (though not officially government owned), Directorate of Food, Roads and Rural Infrastructures of 1987 and National Poverty Eradication Programme of 2001 have similar objectives as the Development Bank of Nigeria and some of the current National Social Investment Programmes (NSIPs). Many are repetitions, and would have been more impactful if sustained by law.

Indeed, some effective and efficient entrepreneurial schemes from a previous government such as YOUWIN have been discontinued.

To further appreciate the importance of institutionalising reforms, some reform efforts by previous governments will be assessed, especially in the critical sectors of communications, finance and education.

The liberalisation of the communications sector can be traced to the Decree 75 of 1992 that led to the establishment of the Nigerian Communications Commission.

It further enabled the National Telecommunications Policy (NTP) of 2000, which was given legal backing by the Nigerian Communications Act (NCA) of 2003 that brought the NTP into legal force. Due to these reforms, Nigeria has moved from 400,000 fixed phone lines and less than less than 200,000 regular internet users in 1999, to 190million phone users and 122million internet users in 2019. Also, the sectors’ contribution to GDP has risen from 0.67 percent in 2001 to 11.48 per cent in 2019, with the attendant increase in number of jobs, tax revenue and contribution to the effectiveness and efficiency of other critical sectors of the economy.

The financial sector liberalisation reforms under the same Babangida administration led to the emergence of ‘new generation banks’, which were more tech savvy and innovative, and provided good competition to older banks.

The branch expansion approach of many of the newer banks enhanced the real estate sector of the economy, as well as the ability of Nigerian banks and financial institutions to finance major economic and business undertakings.

With industry staff strength of 77,690 employees in 2017, the reform towards the independence of Central Banks and backed by the Banks and Other Financial Institutions Act 1991 (and amended in 1997, 1998, 1999, 2002 and 2004) ensured that the regulator was able to make good and independent decisions that have enhanced the growth and performance of the financial sector.

Pension reforms were backed by law with the Pension Reform Act of 2004 (amended in 2014), which led to the establishment of the PENCOM. The Act also led to the significant resolution of embarrassing pension delays.

During the tenure of one of the recent DirectorGenerals of PenCom, the number of pension contributors rose from five million to about eight million, while assets under management grew from $19.3 billion to a record $42 billion.

For the media, similar liberalizing reforms such as the partial commercialization of public media stations in the 1980s and the Decree No. 38 of 1992 establishing the National Broadcasting Commission, have endured. This has led to the expansion of the media space, job creation, social enlightenment, democracy, free speech and liberty, with spin-offs in broadcast revenue for sports and entertainment. This is in contrast to days of only government owned media such as Daily Times and NTA, which allowed for too much government

interference. Similar reforms also occurred in the education sector following the promulgation of Education (National Minimum Standards and Establishment of Institutions) (Amendment) Decree No. 9 of 1993, which repealed Decree No. 19 of 1984, and stipulated new guidelines on establishment of private universities, thereby increasing access to education for Nigeria’s growing population, Research and Development, as well as providing alternatives and much needed healthy competition for public schools.

These liberalised sectors contributed to making Nigeria the largest economy in Africa, after the rebasing of GDP in 2014, with increase in aggregate output from $270billion to $510billion. Telecoms accounted for more than a quarter of the increase, and the policies when given more life from May 1999, also contributed to reverse migration.

Given the circumstances under which the Babangida administration had to ‘step aside’ from office in 1993, it is most unlikely that these beneficial economic reforms in communication, finance, media and education would have been sustained, if they had not been institutionalised by law or decrees.

As the Vice President of Nigeria constitutionally leads on the economy, the PEBEC structure facilitates inter-agency cooperation, which is required to sustainably resolve such business inhibiting challenges, as against the inter-agency rivalry that may and sometimes plays out. The slim PEBEC bureaucracy is ideal and PEBEC should be passed into law, possibly as a commission.

Not every policy should and can however become law. The declining state of public finance in Nigeria is responsible for the Presidential Committee on Restructuring and Rationalisation of Federal Government Parastatals, Commissions and Agencies, and the report of the committee, otherwise known as ‘Oronsaye Report’ of 2014 recommended a scrapping and merging of 220 out of 541 government agencies. A cost benefit

analysis of PEBEC however demonstrates its very significant positive contribution to the Nigerian economy, and therefore should be backed by legislation to continue its work. “Though Nigeria’s ranking on the World Bank Doing Business Index has improved, there is still a lot more work for PEBEC to do, in supporting the actualization of Nigeria’s socioeconomic aspirations.

Appropriate legislation to support and strengthen the Council will therefore be adroit.

While there is some concerned perception about the appropriateness of the relationship between the executive and current national legislature, especially when conceived within the classic framework of separation of powers, this ‘cordiality’ between both arms of government however offers a strategic opportunity for economic reforms to be institutionalized. The urgency of seizing the ‘diplomatic moment’ is occasioned by the fact that such moment may not last for too long.

Already, the recent disagreements between some members of the executive arm of government and members of some parliamentary committees may have begun to test the cordiality between both arms of government.

With the leadership contests in the ruling political party and political moves towards the 2023 general elections starting rather too prematurely- events Professor Assisi Asobie will describe as the ‘intensity of politics’, the window of opportunity required to institutionalise PEBEC reforms may the smaller than thought- hence the need for urgency.

The PEBEC and executive arm of government, should quickly initiate the necessary executive bill(s) that will be sent to the National Assembly, possibly utilising the National Assembly Business Environment Roundtable (NASSBER). Time, as the legal term says, is of the essence.

Uwanaka, a policy and management analyst, writes from Abuja and can be reached through chukweks@yahoo.com

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Assessing Three Years of Reforms at FMBN John Ikyaave

instant notifications, check records of NHF contributions on the go, update NHF personal records, check NHF balance of contributions, register and retrieve NHF numbers, request for statements of account, calculate home affordability and mortgage payments, and obtain latest NHF-related information from the FMBN Bulletin Board online service.

Recently, the Executive Management Team of the Federal Mortgage Bank of Nigeria (FMBN) under the leadership of Arc. Ahmed M. Dangiwa clocked three years in office.

Within this period and under the supervision of the Minister of Works & Housing, Babatunde Fashola, he team of experienced professionals have posted remarkable performance by pursuing bold, dynamic, and strategic Institutional reforms. From unprecedented levels of mortgage loan disbursements to stronger collaborations with industry stakeholders, innovative housing product designs, financial transparency, and broad institutional reforms, the FMBN Board and Management team have built and sustained a trajectory of strong corporate performance across key indicators.

Mortage Loan Disbursements Between April 2017, when the Executive Management team took charge of the bank to March 2020 (a three-year period), FMBN leveraged funds accruing to the National Housing Fund (NHF) Scheme to record over N90billion in various loan disbursements. The figure comprises: NHF Mortgage Loans totalling N32.38 billion granted to 4,236 beneficiaries; Home Renovation Loans totalling N37 billion granted to 43,920 beneficiaries; Estate Development Loans totalling N8.71billion for the construction of 1,692 housing units. Others are Cooperative Housing Development Loans totalling N6.76 billion for the construction of 1,048 housing units; and Ministerial Pilot Housing Scheme loans totalling N4.77 billion for the construction of 793 housing units.

The size of mortgage loans disbursed within the three-year period is remarkable at many salient levels. First, it accounts for over 30 percent of the N249.5 billion loan portfolio that the Bank has recorded within the 25-year life span of the National NHF Scheme.

Secondly, the amount translates to over 60 per cent increase in the cumulative value of mortgage loans totalling N152.5 billion in April 2017 when the Management team came on board to N249.5 billion as at March 2020.

The speed of processing, size of the loan approvals and disbursements are all unprecedented in the history of the Bank.

Speedy Processing of Refunds to Retired NHF Contributors The past three years have witnessed improved efficiency in the management of the National Housing Fund (NHF) Scheme that requires workers to contribute 2.5 per cent of their monthly income, which qualifies them to access all FMBN products and services. One notable area is the departure from the perennial problem of long delays in processing refunds to retired workers, who contribute to the NHF scheme.

In line with the policy of the current Board and Management of FMBN to prioritise these payments to retirees, the Bank recorded over N23.8 billion in NHF refunds in three years to 162,992 people. The figure represents a 220 percent increase from N10.8 billion recorded by previous managements over a 25-year period to 132,605.

Five-Year Strategic Plan In a bid to reform and reposition the bank, FMBN engaged the services of a reputable International Consultancy Firm, Messrs. KPMG Ltd to produce a five-year Strategic Turnaround Plan for the Bank.

The plan was approved for implementation at the 202nd meeting of the Board of Directors in May 2020.

A notable component of the strategy blueprint includes the financing of 100,000 housing units by year 2024. Second is growing the number of NHF contributors from the current five million

Implementation of National Affordable Housing Delivery Programme To strengthen stakeholder participation and confidence in the operations of the National Housing Fund (NHF), the FMBN in conjunction with the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and the Nigeria Employers’ Consultative Association (NECA) embarked on the National Affordable Housing Delivery Programme for Nigerian Workers.

In the first phase of the programme, about 2,600 housing units are being delivered in thirteen (13) states across the six geopolitical zones of the country in addition to Lagos and Abuja, in batches of a minimum of 200 units per zone.

House types include finished semi-detached bungalows as well as 1-, 2- and 3-bedrooms in blocks of flats.

Dangiwa

to 31.6 Million and aggressively transforming the mixture of formal/ informal sector contribution from 8:20 to 50:50 by the year 2024 through widening informal sector participation, given that this sector comprises over 80 per cent of the working population in Nigeria. Furthermore, the plan projects to accelerate the growth of NHF contributions from annual collections of N48.8 billion in 2019 to N284.7 billion by the year 2024.

Review of Equity Requirement for Accessing Housing Loans Relatedly, in a strategic move designed to lower the financial burden on potential home-owners within the low and medium income segment of the economy seeking FMBN housing loans, the FMBN within the period under review proposed and secured approval for a reduction of equity requirement for accessing mortgage loans. Notable aspects of the approval which has been in effect since 2018 are as follows: Mortgage loans of N5 million and below attract zero (0%) equity contribution, a downward review from the 10 per cent previously required as loan down payment; and Mortgage loans of over N5 million to the maximum amount of N15 million now attract a flat equity contribution rate of 10 per cent down from the 20 per cent and 30 per cent previously mandatory to access the loan facility.

The historic downward review of equity requirement for accessing the NHF mortgage loan has made it more accessible and affordable to Nigerian workers within the low- and mediumincome brackets. This implies that workers who contribute to the National Housing Fund (NHF) consistently and are up-to-date are eligible for up to a N5 million loan without having to put down a single kobo as equity while those seeking for loans above N5 million to N15 million will only put down 10 per cent as equity.

Introduction Innovative Housing Products After decades of pushing and promoting legacy housing loan products, the current Board and Management opened a new vista of innovative home loans designed to create a good fit between what the bank is offering and the income capacity of workers who subscribe to the NHF scheme.

This new management thinking, and focus led to the creation of more worker-friendly home loan products with more flexible payment conditions.

The first to consider is the FMBN Rent-ToOwn’ Homeownership Product. The rent to own product offers a cost-friendly housing loan which

ensures a convenient re-payment arrangement for Nigerians. The product makes it possible for a Nigerian worker that contributes to the National Housing Fund (NHF) Scheme to move into an FMBN-owned housing property as a tenant and conveniently pay towards ownership of the property in monthly or annual instalments over as long as 30 years at an interest rate of just 9%!

The second is the Individual Home Construction Loan. The loan enables NHF contributors with unencumbered land, appropriate land titles and approved building plans to undertake self-construction. The loan provides up to N15 million to contributors to the National Housing Fund (NHF) scheme at 7 percent interest rate.

Beneficiaries can pay back over a period of up to 15-years depending on their age and number of years left in service.

Another equally worker-centric affordable home ownership product that FMBN has upscaled is the Home Renovation Loan. The loan provides up to N1million to enable beneficiaries who already own their homes to carry out improvements.

About 43,000 Nigerians have benefitted from this facility in the last three years.

FMBN has also revamped its legacy Cooperative Housing Development Loan (CHDL) in line with the initiative of Fashola to adopt cooperative societies as the channel for the aggregation and delivery of houses to members of cooperative societies.

The FMBN Cooperative Housing Development Loan (CHDL) enables a cooperative society that has acquired a plot of land to develop houses for allocation to its members. Key features include tenors of up to 24 months with a moratorium of 12 months and interest rate of 10 per cent.

Up to N500 million is accessible by qualified cooperative societies under the facility subject to review upon judicious assessment of utilization of funds earlier disbursed.

Leveraging Technology Another notable achievement of the FMBN within the past three years is the launch of FMBN Digital Platforms.

Key components of the FMBN Digital Platform Solutions Suite of services include the following: The *219# USSD Short Code service via GSM mobile networks; the NHF Mobile Apps available on android & iOS platforms; The online Self-Service Kiosk via the Bank’s web portal and SMS and email notification services to NHF customers.

The platforms enable contributors to receive

Resumption of Defaulting States in NHF The FMBN Board and Management have worked hard in the past three years to rebuild stakeholder confidence in the National Housing Fund (NHF) Scheme. As a result, six (6) States re-joined the NHF Scheme. This includes Borno, Niger, Edo, Ondo, Kebbi and Lagos bringing the total to thirty-four (34) States and the FCT. The Management is sustaining efforts for two remaining states (Kano and Oyo) to resume their workers’ contributions within the current year. The Bank added over 513,416 additional subscribers to the NHF scheme within the past three years alone, bringing the total to a record 5,052,500.

Updating Financial Accounts of the Bank It is important to note that when the current Management assumed office, four years of corporate financial statements were in arrears for the period 2013 – 2016. Within the past three years, the Management team has worked hard to update the accounts. Currently the 2013, 2014 and 2015 FMBN audited financial accounts have been approved by the Central Bank of Nigeria (CBN) in accordance with the banking regulations. Those for the year 2016, 2017 have been prepared and submitted to the CBN for approval while the 2018 accounts have also been approved by the Board and are being signed off for submission to CBN. In the same vein, audit field work for the 2019 account is set to commence in July 2020 while the accounts (2019) will be concluded before the end of the year (2020).

Improvement in Process Turnaround Time The Bank observed annual management retreats in years 2017, 2018 and 2019 to review business processes. The retreats identified process bottlenecks and streamlined business processes leading to reduction in turnaround time by as much as 40-60 per cent. For instance, the NHF refund process reduced from an average of 6-12 months to the mandatory 90 days and less in some cases. FMBN’s remarkable turnaround is significant for the growth of the housing industry and rapid delivery of affordable housing in the country. Given the urgent need to address the huge housing deficit, estimated to range between 17 million and 22 million, the repositioning of the FMBN to better play its role as a catalyst for affordable housing delivery inspires optimism. t*LZBBWF JT B QVCMJD QPMJDZ SFTFBSDIFS BOBMZTU CBTFE JO "CVKB

RIMAN Appoints Board of Trustees Nume Ekeghe The Risk Management Association of Nigeria (RIMAN), has appointed Professor Olayinka David-West, Mr. Austin Okere and Mrs. Stella Ojejwe-Onyejeli to its Board of Trustees (BoT).

The appointment was approved by the association at its 20th annual general meeting held recently in Lagos.

The appointment of the trio to the Board was in line with the quest of the association to promote best practice risk management, capacity building, risk advocacy and strengthening the association.

David-West is an information systems professional with over two decades experience in the Nigerian IT industry. She is currently a senior fellow in the

Operations, Information Systems and Marketing Division of Lagos Business School. She is also the Academic Director at Lagos Business School and Enterprise Development Centre (EDC) of the Pan-Atlantic University.

Okere is the Founder & Executive Vice Chairman, Computer Warehouse Group (CWG) and Entrepreneur in Residence, Columbia Business

School, New York. He is also a member of the World Economic Forum Business Council on Innovation and Intrapreneurship.

Ojekwe-Onyejeli is the Executive Director and Chief Operating Officer of Nigeria Sovereign Investment Authority (NSIA). She brings more than 25 years of financial advisory, controls, governance and risk management experience to the

Board.

Other eminent professionals also had their appointment on the Board renewed at the AGM, these are BoT Chairman, Ms. Folakemi Fatogbe, who is the Director of Risk Management, Central Bank of Nigeria (CBN); RIMAN President, Mr. Magnus Nnoka, who is also the Chief Risk Officer, Coronation Merchant Bank.

And other Bot members renewed were Partner, Risk Consulting, KPMG Mr. Olumide Olayinka; Executive Director, Heritage Bank Dr. Jude Monye; Executive Director/ Chief Risk Officer, Access Bank Plc Dr. Greg. Jobome and Director of Enterprise Risk Management, Nigerian Deposit Insurance Corporation (NDIC), Mr. Usman Maitambari.

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IMAGES

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Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

L-R: First son of the elder stateman, Dr. Alimi Abdulrazaq; Kwara State Governor, Abdulrahman Abdulrazaq and Speaker, House of Representatives, Femi Gbajabiamila during the arrival of the remains of the late Abdulganiyu Abdulrazaq at the llorin international Airport..recently

L-R: Wife of Edo State Governor, Mrs. Betsy Obaseki; Governor Godwin Obaseki; Catholic Archbishop of Benin City, Augustine Obiora Akubueze; Deputy Governor, Rt. Hon. Comrade Philip Shaibu, his wife, Mrs. Maryann Shaibu, and Secretary to the State Government, Osarodion Ogie Esq., during the governor’s visit to the Archbishop in Benin City...recently

L-R: Olobu of Ilobu, Oba Ashiru Olatoye Olaniyan; Osun State Governor, Mr. Adegboyega Oyetola; Chairman All Progressives Congress, Prince Gboyega Famodun and the Olufon of Ifon, Oba Almoroof Adekunle Magbagbeola, during a peace meeting between the two royal fathers, at the Banquet Hall, Govrnment House, Osogbo...recently

Nigerian Defence Academy’s 67 Regular Course and Nigerian Army Short Service Course 46, during a simulation exercise at the Shooting Range in Kachia forest, Kaduna state...recently

Ambassador of the Bolivarian Republic of Venezuela to Nigeria, Mr David Nieves VelĂĄsquez Caraballo (right), addressing some diplomats during a lecture in commemoration of the Venezuelan Independence Day in Abuja...recently

L-R: Executive vice Chairman Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta; the Governor of Borno State, Prof. Babagana Zulum; Hon Minister of Communications and Digital Economy, Dr Ali Isa Ibrahim Pantami; Hon. Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed; Hon Minister of Works and Housing, Hon Babatunde Raji Fashola,SAN, and Managing Director, Nigcomsat, Mrs. Abimbola Alale during Virtual Commissioning of Six IT Projects Executed across the County by Agencies under the Ministry in Abuja yesterday 23rd July 2020 at the Communications and Digital Complex, Abuja... recently

L-R: Senior Special Assistant to Lagos State Governor on Agriculture, Mr. Gbolabo Olaniwun; Member, Lagos State House of Assembly, Representing Eti-Osa 2, Hon. Gbolahan Yishawu; Lagos State Acting Commissioner for Agriculture, Ms. Abisola Olusanya and Permanent Secretary, Ministry of Agriculture, Dr. Olayiwole Onasanya and during the oďŹƒcial ag o of Eko City Farmers Market, Ileya edition at Ikoyi Falomo in Lagos... recently

Executive Director, National Primary Health Care Development Agency (NPHCDA), Dr Faisal Shuaib (left), and the newl WHO Head of Mission and Country Representative to Nigeria, Dr Kazadi Mulombo(right) during the visit of Mulombo to NPHCDA headquarters in Abuja...recently

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EDUCATION JAMB to Score another First with 2020/21 Admission Exercise As the Joint Admissions and Matriculation Board kicked off the admission exercise for the 2020/2021 academic year for tertiary institutions, Raheem Akingbolu reviews the examination process, which many believe has been smooth all the way, despite all odds

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very year, examination bodies nationwide, including the Joint Admissions and Matriculation Board (JAMB), face many challenges, especially in the area of examination malpractices and coping with huge population of applicants.

In the last few years, JAMB under its current Registrar and Chief Executive Officer, Prof. Is’haq Oloyede, has reduced the problem of examination malpractices to the barest minimum through cutting edge innovations and monitoring. Since assumption of office, Oloyede has not minced words for a second on his determination to end examination practices. As a result of this, the board has continued to strengthen its capacity to frustrate the effort of saboteurs.

Though Computer-based Test (CBT) centres were innovatively created to frustrate malpractices, JAMB was quick to strengthen the centres’ capacity when it was discovered that some operators were still serving as saboteurs to the lofty idea. On finding out last year, that some of the operators were tampering with the closed-circuit television (CCTV) cameras mounted at their centres, as a way of covering up their crime, the body had wielded the big stick and delisted 133 of such CBT centres for committing various examination malpractices. Between then and now, JAMB has made many promoters of unethical practices within and outside the body, to face sanctions.

As part of the build up to the 2020 edition, the examination umpire had insisted that only candidates with National Identity Number would be registered for the 2020 Unified Tertiary Matriculation Examination (UTME).

According to the body’s spokesperson, Fabian Benjamin the essence of the NIN for registration was to curb cases of multiple registration and other forms of malpractices perpetrated in the UTME process. But in response to the yearnings of stakeholders who expressed displeasure over the difficulties faced by applicants as a result of shortage of manpower at the National Identity Management Commission (NIMC), JAMB took a detour and suspended the exercise, adding that NIN would now be considered a prerequisite for registration from 2021.

However, while the preparation for the 2020 UTME was going on, the rampaging Coronavirus pandemic rared its ugly head in Nigeria. Rather than suspending the process, it simply sent JAMB management back to the drawing board. At the peak of the global crisis, there were uncertainties in some quarters that some students could miss the examination, but Prof.

Oloyede and his team were quick in assuring the affected students and their parents that the crisis would not disrupt the examination.

Meanwhile, before the UTME, JAMB had promised that due to the coronavirus scare, it would provide hand sanitisers and face masks for its workers and candidates. To complement the body’s effort, Oloyede in a recent interview, had admitted that during a visit to CBT centres while the examination was on, he discovered that operators of the centres were on top of the game. “It had been very helpful to put those measures in place and I ap-

Oloyede

preciate the CBT centres. I went to a CBT centre and I discovered that even as good as our own precautionary measures were, the school proprietress provided better facilities in terms of screening and the layout was very impressive. I understand that many of the CBT centres made separate provisions against the coronavirus.

You can trust Nigerians that when it comes to protecting our lives, we don’t joke with that,� he said.

As the coronavirus outbreak spread nationwide, JAMB had responded swiftly to the laid down global rules for safety by pruning down on crowds at

the CBT centres. According to Benjamin, the body started with 250 persons at various centres at the beginning of the exercise, but the numbers were later reduced to ensure that candidates were not unnecessarily crowded in a place.

After the examination, JAMB put in place all necessary arrangements to ensure that its services are not only active and available online, but are not disrupted in any way as a result of the COVID-19 pandemic.

Oloyede, who made the clarification in a statement, reiterated the body’s determination to ensure that

it delivers on its mandate of providing quality service to Nigerians. He said by implication, Nigerians can access all its services from the comfort of their homes as they stay at home to be safe. “The SERVICOM Unit of the board could be reached round the clock through our ticketing platform to receive complaints and enquiries. The board would promptly attend to it.�

Oloyede therefore called on the public to take full advantage of these channels for fast and efficient service. He affirmed that the board, as a responsive organisation is duty-bound to support the efforts of government in mitigating the spread of COVID-19 by not encouraging or sanctioning needless assemblage of people at its various offices.

With the commencement of the 2020 admission exercise, as announced by JAMB and the revenue generated by the body for the economy, many observers believe that the 2020 process has been a success story all the way.

Reviewing the exercise, a Senior Lecturer at the Department of Chemistry, Ekiti State University, Dr. Mayowa Akeem Abdul-Azeez said the body’s performance in 2020 has been excellent, but tasked the examination body to strengthen its website to make it more accessible for prospective candidates. “Though there are little hitches here and there, but in the overall, Prof. Oloyede and his team have demonstrated through the 2020 exercise that JAMB is responding well to global trend that is largely driven by technology. While I will appeal to the examination body to upgrade its website, I will also appeal to parents and guardians to encourage their children to deepen their knowledge in ICT ahead of the computer-based tests. “With this year ’s achievement despite various challenges, other agency of government should borrow a leaf from JAMB,� Azeez stated.

School Resumption: Lagos Charges Teachers to Adopt Innovative Strategies Funmi Ogundare

The Lagos State Ministry of Education recently organised a virtual training for public school teachers and stakeholders in the sector ahead of schools resumption on August 3, 2020.

The move was aimed at strengthening their capacity while also preparing them ahead of post-COVID-19 and integrating strategies to enhance teaching and learning.

Addressing the participants, the Commissioner for Education, Mrs. Folasade Adefisayo said the training was designed to develop teachers’ competencies, as well as inform them on best practices towards managing challenges posed on the education sector by COVID-19.

According to her, “this seminar will prepare the teachers ahead of resump-

tion, updating them with trending facts to upscale their teaching skills towards managing the children for better performances in academics.�

She said the theme of the webinar, ‘Mitigating Strategies against Erosion in the Education Sector ’, became imperative in view of the current global crisis and the need for stakeholders in the sector to stay safe, sane and healthy during this period.

Adefisayo acknowledged the state government’s efforts towards reducing the spread of the virus and seeking lasting solutions to the pandemic, adding that with students’ long stay at home and closure of schools for such a long period of time, students are likely to be faced with challenges ranging from hunger, sexual abuse, domestic violence, emotional, social

and psychological vices. “This necessitated the urgent need to prepare the minds of teachers to adapt to the demands of the new normal by empowering them on possible ways of dealing with the students, extending love and assuring them that this phase cannot hinder their bright future.�

The training focused on three key dimensions with emphasis on ‘Graphology: An Essential Tool in Predictive Learning, Effective Communication for Developing’, ‘Maintaining an All-round Stable Learner and most importantly Child’s Right’, ‘Laws (Where to Find Help for the Unstable Learner).

The commissioner affirmed that each session was facilitated by well-seasoned and experienced professionals in child development. “The objective is to remain relevant and productive during the post-COVID

era, hence the urgent need to equip our teachers with necessary skills to face and overcome challenges posed by the pandemic become imperative.�

She appealed to the participants to be innovative and maximise the opportunity for the effective running of the sector.

Earlier in her remarks, the Permanent Secretary, Ministry of Education, Mrs. Abosede Adelaja expressed optimism that the webinar will enable stakeholders discover new methods of relating with students and think of what to do to survive the new normal.

She urged participants and teachers to utilise opportunities derived from the three-day training programme, as the state will not relent in its commitment to the improved standard of teaching and learning outcomes.

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EDUCATION

The Professor Lale You Did Not Know Professor Kiikpoye Aaron

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iterary scholars have observed that the epic hero typically overcomes physical and spiritual obstacles to restore normalcy to his community through fulfilment of self. Professor Ndowa Ekoate Lale’s appointment and service as Vice- Chancellor of the University of Port Harcourt largely followed the archetype of the epic hero- from the selection phase to the battles he was forced to contend with as he established legacy projects and reforms.

In 2015, when Professor Lale applied for the post of Vice-Chancellor of the University of Port Harcourt, many conceded that he was the best man for the job, but very few believed he would be appointed. It was felt that despite his academic credentials and demonstrable administrative competence, his brutally frank, play by the books character would work against him.

Just for the records, Professor Lale is a world class academic and consummate administrator. He graduated with a First Class Honours and went straight to the PhD programme. His publications have appeared in premium journals globally and have been cited by many academics in his field of specialization. The founding Dean of the Faculty of Agriculture, University of Port Harcourt, he started the faculty, literally with bare hands.

Today, the faculty has the enviable status of full accreditation for all its programmes, due largely to the quality of staff recruited under his supervision. Only the best and brightest were employed, irrespective of ethnicity or state of origin.

Lale’s contributions at the congress meetings of the Academic Staff Union of Universities (ASUU) were unequivocal in advancing the perennial struggle for a better university system in Nigeria. In the Senate of the University of Port Harcourt, he built a reputation for speaking truth to all issues and persons. As a member of the Appointments and Promotions Committee, he fought for the qualified but victimized staff in their quest for promotion and prevented the promotion of undeserving people, through reasoned, evidence-based arguments. It was therefore no accident that in the ASUU referendum for the choice of a vice-chancellor, Professor Lale recorded a resounding victory over nine others.

Ironically, this reputation did not endear him to the Governing Council of the University of Port Harcourt in their preference for a VC. Despite his unassailable performance in the selection interview, the selection committee ensured that he was placed second.

It was only when it became clear that the preferred candidate could not fly, that council reluctantly pronounced him vice-chancellor in its meeting of May 26, 2015.

Even after his emergence as vice-chancellor, some members of the council tried to make it impossible for him to do his job. He was regularly harassed in council so much that attending council meetings became an ordeal for him. Land mines, baited traps as well as booby traps were arrayed against him. He fell to none. The student unrest of April 11, 2016 in the university provided the veneer to get rid of him. Consequently, he was hastily suspended from office without a query - the most basic expression of the right to fair hearing in administrative settings.

Since it was difficult to justify the removal of a vice-chancellor on grounds of student protest, some reasons had to be invented to legitimize that illegality. In a letter personally signed by the Pro-Chancellor and not the Registrar and Secretary to Council as should normally be the case, he was accused of approving expenditure beyond his approval limit. More to the point, council suspended him for approving the purchase of a Toyota Prado and furniture for himself, expenditure that was clearly above his approval limit of N2,500,000. These were lame allegations.

Professor Lale was ushered into his official vehicle at the end of the ceremony of his investiture as VC. It was unimaginable that he approved the funds for the purchase of his official vehicle before he assumed office.

Clearly, the council had acted beyond its lawful mandate in purporting to suspend an innocent man and appointing an acting vicechancellor. For this misadventure, the council found itself under the hammer of the federal

Professor Lale government: the council was dissolved.

The dissolution of council removed the strictures preventing Lale’s journey to realizing his vision for UNIPORT, captured in his inaugural address entitled ‘A Wholesome and Prosperous University of Port Harcourt is Possible’. Before the reconstitution of a new council, he commenced the building of 32 units of flats for staff accommodation and renovation of hostel blocks that for many decades had remained decrepit. All these were done within the requirements of extant Public Procurement laws and regulations.

It might be worthwhile to address the issues at the heart of the student protest. Before Professor Lale became the vice-chancellor, the Senate of the university had decided that only registered students would be allowed to write examinations in the school. Being a registered student meant that the applicable fees and charges would have been paid by the student.

Lale’s administration did not increase the charges before or after the students protest – till he left office. This contradicts the false narrative that he increased fees and charges in utter violation of the federal government’s recommendation of not more than N45,000 only. His only offence was that he courageously implemented a decision taken by the University Senate! This was the false propaganda by which they sought to define and present Lale to the public.

In reality, Professor Lale is an affable, fair-minded and fine gentleman, with a deep commitment to integrity, ethics and values.

Like all humanity, he might not be perfect.

However, the Professor Lale I know is one who would do the right thing and displease you than please you and do the wrong thing.

In the context of Nigeria as we know it today, my impression, based on my close interaction with him is that Lale is a man ahead of his times.

Professor Lale’s Legacies The archetypal epic hero is usually appreciated by his bequest to posterity, when he has left the scene of battle. Professor Ndowa Lale’s stewardship at the University of Port Harcourt bears close resemblance to the epic hero. It is trite for good leaders to be thought of as bad guys while taking decisions that hurt people. They are often remembered long after they have left. I am of the firm conviction that several years down the road, people will look back at his era and say ‘here was a man.’ The following specific decisions may well be remembered as Lale’s lasting legacies.

As part of the last minute project commissioning by his predecessor, a gas power plant was handed over to him. It became operational almost as soon as he became the vice-chancellor. The terms of the contract required that the university pay the contractor N53 million monthly for power supply. He struggled to honour the contract but after the first few months it became apparent a N53 million monthly bill for energy alone could not be paid by a cash-strapped, poorly funded university. To make matters worse, contrary to expectation, the power supply was neither sufficient nor stable. This contract, it must be mentioned, was entered into for a period of ten years. The Lale-led management took a hard look at the project and engaged the company for a re-negotiation of the terms, particularly the monthly bill. First, they made a case for the bill to be scaled downwards.

While this was still not a feasible thing to do given the lean resources of the university, he summoned up courage and made a case for outright termination of the contract. But for this drastic decision, Lale would have been reduced to an electricity bill paying VC. While this was an act of courage and pragmatism, it earned him the ire of some members of the council and other powerful interests.

That apart, Prof Lale took on the Physical Planning and Development (PP&D) Unit and initiated reforms that have proved very beneficial to the university. Until the reform, this unit was made up of the Estate Department, Physical Planning and TETFund. For some reasons, this unit had proved very inept in the management of TETFund projects, making it impossible for the university to access its funds at TETFund. Indeed, at some point, the University of Port Harcourt account at TETFund was frozen. Professor Lale unbundled the unit and created a desk office solely for TETFund. The university was subsequently able to access all its funds with TETFund. With those funds, the university became, as it were, a vast construction site, with both completed and on-going buildings.

Another legacy of Professor Lale is the positive disposition of students to payment of charges and fees. For many years, students of UNIPORT were accustomed to a culture of non-payment of school charges. They would normally register properly in the first year and no more. Upon graduation, they would pay petty bribes to some university officials and have their clearance forms signed.

The university was losing millions of naira annually in revenue, not because of the absence of policies to address this challenge; but because of the absence of courage to implement the regulations. To be sure, before Professor Lale became the Vice-Chancellor, there was the extant rule of ‘no fee, no exam’.

Convinced that lawlessness should not define the products of the university, Professor Lale insisted that the Senate rule be implemented.

This was what his traducers used to mobilize students, staging an extremely destructive and violent protest in the university.

In hindsight, his insistence that the policy be implemented was the right thing to do.

Today, a new culture has been enthroned in UNIPORT. Students now pay their fees within the specified periods and register their courses online. Three things flow from this singular decision. First, fraud has been eliminated in the process of clearing students upon graduation. Second, the process of result computation has been vastly improved, making many UNIPORT graduates to proceed on National Service faster than was the case before him.

Most importantly, by paying their charges, the university is in a better position to provide for municipal services more regularly than the pre-Lale years.

Another lasting legacy of Professor Lale is the redefinition of attitude of students and staff to their studies and work, respectively.

For many years, the first three or four weeks of resumption of academic activities in the university would be wasted. Neither students nor lecturers would be available or willing to learn or teach. Even if there were students willing to learn they would be so few that lecturers would consider it a waste of breath to teach. Professor Lale felt this was unacceptable and empowered the Quality Assurance and Quality Control (QAQC) Unit to address the anomaly. Students now return to school from the first week and active teaching and learning begin immediately. The result is that Professor Lale is leaving behind, a more stable and predictable academic calendar in the university.

Furthermore, Professor Lale introduced a merit-based system in the career progression of staff. There have been instances in the past when ‘loyal’ candidates for professorial assessments would arrange with their deans and heads of department to send their assessments to their friends to speedily and without regard to acceptable standards, conduct the assessment of staff. All that changed under Professor Lale. At the point of sending the papers out for external assessment, he would personally call fellow vice-chancellors to supply him with names and credentials of experts in the fields in which professorial candidates would be assessed. He supplemented this by making use of the compendium containing the names of Nigerian professors

and their fields of specialization published by the National Universities Commission (NUC).

The result is a more merit-based assessment process and thus better quality of professors.

With regard to non-academic staff, progression to the positions of Deputy Bursar and Deputy Registrar was based on subjective evaluation which easily lent itself to abuse. The Professor Lale-led management introduced a meritbased system in which candidates are to write a competitive examination, which, among other skills, required demonstrable competency in Information and Communication Technology (ICT). As is to be expected, those who could not pass the examination would think of him as a bad person.

Again, Professor Lale lawfully recovered university land that had been encroached upon by host communities and land speculators. Whenever the courts gave the university judgment, he ensured the illegally built structures on university land were promptly demolished. Today, the University of Port Harcourt land is no longer attractive to land speculators as the law would be invoked against them.

It would be hard to chronicle the achievements of Professor Lale without a mention of the relative peace that reigns on campus since he assumed duty as vice-chancellor. Elimination of cultism in UNIPORT can be attributed to his zero-tolerance stance on cult-related activities. Throughout the period of Prof Lale, UNIPORT students enjoyed unprecedented peace due largely to the absence of cult activities on campus.

Staff discipline was also a priority. Staff who went against the rules of the public service or professional ethics and values were subjected to appropriate disciplinary proceedings.

Professor Lale’s administration has been courageous in applying the processes, rewards and sanctions prescribed by the public service rules. It is this army of bad guys that constitutes the forces against Professor Lale. The result is that while it cannot be claimed that staff with the proclivity to be unethical have been totally eliminated, those who do so are much more circumspect when the temptation to be unethical in their conduct tempts them.

Above all, a much more enduring legacy of Professor Lale is the redefinition of the role of council in the administration of Nigerian universities. Until Professor Lale became ViceChancellor and throughout his early months in office, the council awarded contracts where the value of the contract exceeded the vice- chancellor’s authorized limit. In the eyes of the law it was wrong. It is actually the Tenders Board that is saddled with the responsibility of procurement matters. This realization came after Professor Lale took a good reading of the relevant provisions of statute following his bitter experience with the first council that was dissolved during his stewardship. The university has been better for it as the processes of contract award have been properly streamlined.

Undoubtedly, being a stickler for due process, Professor Lale was often vilified by those who would rather operate under the business as usual mode. He was the subject of more petitions than were written against any other vice-chancellor in the history of the university. Written with the wrong motives, the petitions were often dismissed as lacking in merit in the relevant quarters. In some cases, the petitions boomeranged. For example, two governing councils that were poised to kick him out of office were themselves kicked out.

You may call him a bad man if your opinion has been influenced by the propaganda of traducers. Those who know Professor Lale as I do can only think of him as simply an ordinary man with extra-ordinary commitment and courage to leave the University of Port Harcourt better than he met it. In spite of the plethora of distractions that came his way, I am confident that the verdict of history on Lale’s stewardship as Vice-Chancellor of the University of Port Harcourt would be more than fair.

As Professor Lale bows out as the 8th ViceChancellor of the University of Port Harcourt, ladies and gentlemen, join me to celebrate this academic giant, this administrator par excellence, a man of unusual courage, and veritable beacon of hope!

-Professor Aaron teaches Political Science at the University of Port Harcourt

30

WEDNESDAY JULY 29, 2020 •T H I S D AY

WEDNESDAY JULY 29 2020 • T H I S D AY

31

32

T H I S D AY Ëž Í°ÍˇËœ 2020

BUSINESS/MONEYGUIDE

Analysts Anticipate Pressure on Nigerian Banks’Revenue Nigeria’s banks are expected to take a big hit to revenues and face rising borrowing costs this year as Central Bank of Nigeria’s (CBN) measures to support the naira squeeze lenders already hit by fallout from coronavirus and the oil price shock, analysts told Reuters.

Banks in Africa’s largest economy - a mainstay for equity and fixed income frontier market investors - have learned to navigate challenges in a country that has long struggled with dollar shortages and multiple exchange rates.

But the prospect of anaemic growth, dwindling oil revenues, declining remittances and dollar shortages exacerbated by the central bank’s latest action aimed

at curbing naira liquidity and currency speculation are putting pressure on lending by banks and the quality of existing assets.

The central bank has sucked as much as N900 billion out of the local banking system since raising the cash reserve ratio (CRR) by five per cent to 27.5 per cent in January, according to analysts’ calculations. “General sentiment in the markets is that CRR debits are carried out quite close to FX auctions to prevent the banks from presenting large ticket FX demands at auctions,� said Nkemdilim Nwadialor at Tellimer Capital.

Those debits also hamper wider lending, going against central bank measures of lowering banks’ loan

to deposit ratios, she said. “Banks are dealing with slow growth, fall in lending, a lack of forex in the market and asset quality issues,� senior director EMEA bank ratings at Fitch, Mahin Dissanayake said.

He expects banks’ revenues to drop at least 20 per cent this year, though he did not expect any to make a loss.

Some banks had already indicated they expect a hit.

In April, mid-tier lender Fidelity Bank had warned 2020 profits would drop by 15 per cent.

Bankers said lenders were relying on existing customers to weather the storm as new lending looked risky with the economy expected to tip back into recession.

UBA Announces Global Management Appointments The United Bank for Africa Plc (UBA) has announced the appointments of Rokia Hacko, Chioma Mang, Chinedu Obeta, Bode Aregbesola, Kingsley Ulinfun and Usman Isiaka as chief executive officers of six of its 20 subsidiaries across Africa.

The appointments are however subject to regulatory approvals.

The new CEOs will drive the Group’s strategy and activities in Mali, Uganda, Zambia, Senegal, Tanzania and Sierra Leone respectively.

In addition, a statement from the bank revealed that Ogechi Altraide has become the new Head, Retail Banking; Amadao

Konate, Head, Treasury & International Payments for UBA America.

It explained that the international appointments complimented the prior appointments of Sola Yomi-Ajayi as the CEO of UBA America, and Patrick Gutmann as the CEO of UBA UK. Earlier this month, UBA had announced the appointment of Ayoku Liadi and Oliver Alawuba respectively, as Deputy Managing Directors in charge of the Group’s Nigeria and Africa businesses, attesting to the importance of UBA’s African business and its strategic positioning as “Africa’s Global Bank�.

Commenting on the appoint-

ments, UBA Group Chairman, Tony Elumelu, said: “The appointments further reflect the strong growth of the Group’s pan-African businesses, currently responsible for over 40 per cent of total Group revenue and the increasing importance of our international businesses in London, Paris and New York, offering superior treasury, trading and corporate banking solutions to clients globally. We are committed to catalysing growth on the African continent and the new CEOs are taking up roles at a very exciting period, as the Group executes its innovative digital play across the African continent’’.

Eatrich Farms Introduces New Investment Initiative for Nigerians Peter Uzoho Agribusiness firm, Eatrich Farms, has rolled out a new investment platform, ‘Green Africa Project (GAP).’ The Chief Executive Officer, Eatrich Farms, Mr. Sam Afolabi, disclosed this in a statement, explaining that, �GAP is one of many projects handled

by Eatrich Farms to further its goal of feeding the future with freshness�.

Afolabi said the company created the project to maximise investment and minimise risk, with the end goal of improving socio-economic situations through agriculture.

He stated: “We have compart-

mentalised the GAP city into three different phases based on its well worked-out plan for each year.

The phase one focuses on Fish Farm, phase two on chicken and turkey farm (livestock), and phase three on pig farm. “Other investment channels with the company are the maize farm and the sold-out commercialscale feed mill, among others. But the fish farm is currently active and open to investors/partners.�

According to Afolabi, a fish farm will be set up for an individual with a one-time investment of N9.5 million.

He explained further that, “Each investor has nine ponds, and each pond has 800 fishes.

Invariably, you’re going to have 7,200 fishes at harvest. With a onetime investment of N9.5 million, you’re going to be earning N2 million every year for 20 years.�

On business security, the CEO said investments with Eatrich were insured by Leadway Assurance and projects would be handled by personnel that have requisite skills and cognate experience.

Afolabi added: �GAP investment is smart, safe, and profitable.

Eatrich is a company that puts its investors/partner at its core. In the last four years, the company has remained committed to not just satisfying investors/partners but amazing them.�

Bulk Buyers Connect Unveils Brand Ambassadors Bulk Buyers Connect has unveiled its brand ambassador. The unveiling ceremony took place in Abuja recently.

Bulk Buyers Connect was created to support very busy professionals, business men and women who need a trusted online platform to shop for their regular family groceries without having to visit the markets at very affordable prices.

The Chief Operating Officer of the company, David Egwu, explained that part of the goal of the company was to build a community of clients that can develop the culture of planning their purchases and thus cut costs.

According to him, the essence of the Bulk Buyers Connect was

to leverage the power of numbers in negotiating best possible prices for their clients.

Egwu, also highlighted the feedback generated from customers already as a further confirmation of the commitment of the company to excellent services. He added: ‘’We are raising the bar and we are challenging ourselves to serve our clients with unprecedented creativity and excellence, we believe that every Nigerian deserves the best possible service there is while staying safe given the recent pandemic that requires people to avoid crowded areas like markets. “Today, we unveil two very fine and inspiring creative Nigerians

Stars in the person of Mollybrown Malumi (a fast rising gospel Artist) and Ace Abuja based comedian Shortcut. “We believe that many more Nigerians need to know about our services and that the introduction of these two ambassadors will help extend the visibility of our brand and services so that many more Nigerians can leverage on our platform to save time and money while focusing on their areas of productivity. “As part of our efforts to alleviate the sufferings faced by some Nigerians as a result of the Covid-19 pandemic, we deliver all products ordered via our website and app free to any part of Abuja.�

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

SEPTEMBER 2019 Money Supply (M3)

35,029,779.72

-- CBN Bills Held by Money Holding Sectors

7,374,356.91

Money Supply (M2)

27,655,422.82

-- Quasi Money

116,533,891.21

-- Narrow Money (M1)

11,121,531.60

---- Currency Outside Banks

1,625,047.69

---- Demand Deposits

9,496,483.91

Net Foreign Assets (NFA)

13,911,335.83

Net Domestic Assets(NDA)

21,118,443.89

-- Net Domestic Credit (NDC)

35,918,179.45

---- Credit to Government (Net)

10,452,199.38

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

11,007,422.79

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

25,465,980.07

---- Credit to Private Sector (CPS)

-14,799,735.56

--Other Assets Net

7,000,253.07

Reserve Money (Base Money

2,005,600.83

--Currency in Circulation

4,677,530.81

--Banks Reserves

317,121.43

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

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

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE Ëœ Í°Íľ Í°ÍŽÍ°ÍŽ

The price of OPEC basket of thirteen crudes stood at $43.14 a barrel on Monday, compared with $43.38 the previous Friday, 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), ZaďŹ ro (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).

SOURCE: OPEC headquarters, Vienna

33

T H I S D AY Ëž Í°ÍˇËœ Í°ÍŽÍ°ÍŽ

Lafarge Africa Grows Profit by 89% to N23 Billion Goddy Egene A cost efficient strategy boosted the profitability of Lafarge Africa Plc despite the margin rise in revenue for the half year ended June 30, 2020. The unaudited results showed a revenue of N120.54 billion in 2020, up 2.3 per cent from N117.885 billion in the corresponding period of 2019.

Selling and marketing expenses were reduced by 9.9 per cent from

N1.720 billion to N1.550 billion, while administrative expenses declined by 30.6 per cent to print at N7.830 billion, compared with N11.289 billion in 2019.

Net financing cost dipped by 67.3 per cent to N4.052 billion, from N12.395 billion in 2019. Following the significant reduction in financing cost, Lafarge Africa Plc ended the half year with a profit before tax of N28.757 billion, showing an increase of 86.1 per

P R I C E S MAIN BOARD

F O R DEALS

cent. Profit after tax grew faster by 89.2 per cent from N9.0 billion to N23.329 billion.

The performance was expected given the efforts made by Lafarge Africa Plc to restructure its balance since last year. The cement manufacturing firm sold its subsidiary in South Africa Plc and also injected equity funding through a rights issue, actions that led to a return to profitability and payment of 100 kobo dividend

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

QUANTITY TRADED

VALUE TRADED ( N )

for 2019 financial year.

The company recently assured shareholders of improved performance and higher returns on investments having significantly strengthened its balance sheet.

Addressing shareholders at the company’s 61st annual general meeting(AGM), the immediate past chairman, Mr. Omobolaji Balogun, said Lafarge Africa was now in a vantage position to face the future despite the cur-

T R A D E D MAIN BOARD

A S

rent challenges brought on by the global pandemic- COVID-19. “The underlining strength of the company’s turnaround and cost-reduction strategy in full year 2019 and the divestment of the South African business have placed Lafarge on more solid financial footing even as the company continues to create more opportunities in the Nigerian market on the basis of its global capabilities in product innova-

O F

tion,� he said. Also speaking, the Chief Executive Officer of Lafarge Africa, Khaled El Dokani, commended the shareholders for their continued confidence in the company. “Our shareholders have been supportive over the years and we look forward to more robust years in our collective commitment to improving lives as we implement initiatives that will keep us on a growth trajectory.

2 7 / 0 7 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, JULY 29, 2020

34

Wednesday, July 29, 2020 Thisday Afrinvest 40 Index Declines... Down 81bps

THISDAY AFRINVEST 40 INDEX

The Thisday Afrinvest 40 Index lost 81bps in yesterday͛s trading session to close at 1,073.36 points, driven by lossess in MTNN (1.7%), GUARANTY (-3.0%) and FBNH (-1.0%). These stocks ac-

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

count for 45.0% of the index.

Sell-ŽīƐ ƌĂŐ DĂƌŬĞƚ WĞƌĨŽƌŵĂŶĐĞ͘​͘​͘ ^/ ĚŽǁŶ Ϭ͘ϱй The benchmark index declined by 54bps ƚŽ ƐĞƩůĞ Ăƚ Ϯϰ͕ϲϱϬ͘ϭϲ points due to sell-ŽīƐ ŝŶ MTNN (-1.7%), GUARANTY (-3.0%) and ^ W> d (-ϵ͘ϴйͿ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ŝŶǀĞƐƚŽƌƐ ůŽƐƚ േϲϵ͘ϲďŶ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĨĞůů ƚŽ േϭϮ͘ϵƚŶ ǁŚŝůĞ zd ůŽƐƐ ǁŽƌƐĞŶĞĚ ƚŽ -ϴ͘Ϯй͘ ĐƟǀŝƚLJ ůĞǀĞů ǁĂŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ ϭϭ͘ϱй ĂŶĚ ϭϳ͘ϭй ƚŽ ϭϱϬ͘ϰŵ ƵŶŝƚƐ ĂŶĚ േϮ͘ϬďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ MBENEFIT ;Ϯϲ͘ϵŵ units), FBNH (17.0m units) and ACCESS ;ϭϭ͘Ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ

MTNN

;േϵϯϵ͘ϱŵͿ͕

GUARANTY

;േϭϵϬ͘ϰŵͿ

and t W K ;േϭϯϬ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ ŽŶůLJ ƚŚĞ /ŶƐƵƌĂŶĐĞ ;нϬ͘ϰйͿ

ŐĂŝŶĞĚ

ĚƵĞ

ƚŽ

ƉƌŝĐĞ

ĂƉƉƌĞĐŝĂƟŽŶ

in MBENEFIT (+10.0%) and // K (+1.1%). On the other hand, the Oil & Gas (-ϱ͘ϮйͿ ĂŶĚ &Z-ICT (-0.9%) indices declined on the back of losses in ^ W> d (-9.8%), dKd > (9.9%) and MTNN (-1.7%). The Banking (-0.5%) and Consumer Goods (-0.1%) indices also lost ŽǁŝŶŐ ƚŽ ƐĞůů-pressures in

GUARANTY

(-3.0%),

Current Price

THISDAY AFRINVEST 40

FBNH

(-1.0%),

W

(-3.7%)

and GUINNESS (-1.8%). Lastly, the Industrial Goods index closed ŇĂƚ͘

Price Previous Current Change Price Weightin YTD g Change

ROA

P/E

P/BV

Divindend Earnings Yield Yield

-0.81%

-26.9%

7.3%

118.00

-1.7%

33.4%

12.4%

8.3%

104.9%

13.3%

2 Airtel Africa PLC

348.00

0.0%

18.2%

16.4%

16.4%

9.4%

3.1%

3 Guaranty Trust Bank PLC

22.60

-3.0%

9.2%

-23.9%

-22.6%

31.1%

5.2%

3.2x

1.0x

12.4%

31.0%

4 Zenith Bank PLC

16.35

2.8%

6.3%

-12.1%

-12.6%

24.5%

3.2%

2.5x

0.6x

17.1%

40.7% 4.7%

5 Nestle Nigeria PLC

3.8x

0.5x

7.5%

20.4%

11.7x

12.3x

4.2%

8.5%

3.3%

1,175.00

0.0%

4.4%

-20.1%

-20.1%

73.6%

24.3%

21.2x

16.4x

6.4%

141.80

0.0%

5.0%

-0.1%

-0.1%

26.9%

12.0%

11.6x

3.3x

11.4%

8.6%

6.30

0.0%

3.0%

-37.0%

-37.6%

16.1%

1.4%

2.2x

0.4x

10.3%

45.4%

6 Dangote Cement PLC 7 Access Bank PLC 8 United Bank for Africa PLC

6.15

0.0%

2.7%

-14.0%

-14.6%

15.6%

1.5%

2.4x

0.4x

16.3%

41.1%

9 FBN Holdings Plc

4.95

-1.0%

2.4%

-19.5%

-23.8%

13.3%

1.3%

2.6x

0.3x

7.8%

39.0%

10 Nigerian Brew eries PLC

31.00

0.0%

1.6%

-47.5%

-47.5%

7.8%

3.3%

18.2x

1.4x

6.5%

5.5%

11 Lafarge Africa PLC

12.00

0.0%

2.4%

-21.6%

-13.0%

44.7%

24.1%

8.4x

0.5x

8.3%

11.9%

12 SEPLAT Petroleum Development C

282.00

-9.8%

1.2%

-57.1%

-52.4%

8.2%

4.9%

3.4x

0.2x

13.2%

29.6%

13 Stanbic IBTC Holdings PLC

30.00

0.0%

1.7%

-26.8%

-25.0%

25.9%

3.7%

4.2x

1.0x

10.0%

23.7%

14 Flour Mills of Nigeria PLC

17.00

0.0%

1.0%

-13.7%

-13.7%

3.6%

1.3%

13.2x

0.5x

7.0%

15 International Brew eries PLC

3.30

-1.5%

0.4%

-65.3%

-65.3%

-30.1%

-8.6%

16 Ecobank Transnational Inc

4.25

-1.2%

0.7%

-34.6%

-35.1%

12.4%

0.8%

1.5x

0.2x

17 Fidelity Bank PLC

1.70

-1.2%

0.7%

-17.1%

-15.8%

12.4%

1.3%

1.8x

0.2x

11.8%

55.8% 13.0%

7.6%

0.5x

-81.9% 66.5%

173.40

0.0%

0.9%

17.2%

17.2%

21.1%

9.1%

7.7x

1.5x

5.0%

19 Okomu Oil Palm PLC

74.95

6.3%

0.9%

34.8%

34.8%

20.0%

13.9%

10.2x

2.3x

2.7%

9.8%

20 Dangote Sugar Refinery PLC

11.95

0.4%

0.5%

-12.1%

-14.6%

19.7%

10.4%

6.6x

1.2x

9.2%

15.2%

0.4x

1.6%

0.64

3.2%

0.4%

-35.4%

-40.2%

22 Unilever Nigeria PLC

21 Transnational Corp of Nigeria

12.25

0.0%

0.3%

-44.3%

-40.8%

-11.5%

-7.2%

23 Guinness Nigeria PLC

13.50

-1.8%

0.2%

-55.1%

-55.1%

3.0%

1.6%

11.4x

0.3x

11.3%

8.8%

1.95

1.0%

0.4%

5.4%

7.1%

9.5%

1.1%

2.1x

0.2x

7.2%

48.7%

24 FCMB Group Plc

1.1x

-11.8%

25 Sterling Bank PLC

1.18

0.0%

0.2%

-40.7%

-37.9%

8.4%

0.8%

3.6x

0.3x

2.5%

28.1%

26 UAC of Nigeria PLC

6.80

-6.8%

0.3%

-20.9%

-23.6%

-6.3%

-3.0%

2.1x

0.4x

1.5%

47.9%

27 Custodian and Allied Insurance

5.50

0.0%

0.3%

-8.3%

-8.3%

13.0%

4.7%

5.7x

0.7x

8.2%

17.6%

47.45

0.0%

0.3%

-0.1%

-0.1%

12.5%

5.3%

13.6x

1.6x

4.4%

7.3%

5.40

0.0%

0.2%

-10.0%

-10.7%

8.6%

1.2%

6.4x

0.6x

4.9%

15.7%

87.80

-9.9%

0.2%

-20.8%

-20.8%

5.7%

1.1%

20.1x

1.2x

7.6%

2.27

5.6%

0.1%

-43.1%

-43.1%

14.5%

2.6%

1.0x

0.1x

9.60

0.0%

0.1%

-25.9%

-25.9%

15.1%

4.9%

6.8x

2.2x

4.2%

14.6%

15.00

-6.3%

0.1%

-9.5%

-24.6%

22.6%

2.6%

5.9x

0.6x

10.8%

16.8%

0.52

0.0%

-23.5%

9.3%

0.7%

2.5x

0.4x

7.7%

39.5%

0.0%

0.1% 0.1%

-29.7%

13.45

-25.7%

-25.3%

6.5%

1.9%

16.2x

1.1x

5.3x

0.9x

28 Presco PLC 29 Union Bank of Nigeria PLC 30 Total Nigeria PLC 31 Oando PLC 32 NASCON Allied Industries PLC 33 Julius Berger Nigeria PLC

35 Ardova PLC 36 Continental Reinsurance PLC

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ

ROE

1,073.36

34 Wema Bank PLC

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ hŶĐŚĂŶŐĞĚ

Price Change Index to Date

1 MTN Nigeria Communications PLC

18 11 PLC

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

ŝŶĚĞdž

Ticker

5.0% 102.3%

6.2%

0.0%

37 Beta Glass PLC

61.55

0.0%

0.1%

14.4%

14.4%

17.2%

11.7%

38 Notore Chemical Industries Ltd

62.50

0.0%

0.1%

0.0%

0.0%

-17.3%

-5.1%

39 AXA Mansard Insurance PLC

1.44

0.0%

0.0%

-27.3%

-27.3%

13.7%

3.7%

40 Transcorp Hotels Plc

4.00

0.0%

0.0%

-18.4%

-18.4%

-0.6%

-0.3%

4.3x

0.0x

18.7%

1.6x

-9.5%

0.6x

23.0%

0.5x

0.0x

-1.2%

ĚĞĐůŝŶĞ ƌĂƟŽͿ ƌĞŵĂŝŶĞĚ ƵŶĐŚĂŶŐĞĚ Ăƚ 0.8x as 14 stocks advanced

against

the

ǁĞƌĞ

MBENEFIT

17

decliners.

(+10.0%),

The BERGER

top

gainers (+10.0%)

and UNITYBNK ;нϴ͘ϴйͿ ǁŚŝůĞ dKd > (-9.9%), ^ W> d (-9.8%) and EW&D Z& < (-7.7%) lost the most. We believe the perforŵĂŶĐĞ ŽĨ ƚŚĞ ŵĂƌŬĞƚ ƚŚŝƐ ǁĞĞŬ ǁŽƵůĚ ďĞ ŵĂũŽƌůLJ ĚŝĐƚĂƚĞĚ ďLJ ƚŚĞ trend in earnings releases.

ŽƌƉŽƌĂƚĞ ĐƟŽŶƐ DƵƚƵĂů ĞŶĞĮƚ WůĐ ;hŶĂƵĚŝƚĞĚ YϮ͗ϮϬϮϬ ZĞƐƵůƚͿ͗ 'ƌŽƐƐ WƌĞŵŝͲ

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

T o p 10 G a i n e r s P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

M B EN EF IT

0.22

10.0%

M B EN EF IT

26.9

10.0%

B ER GER

6.05

10.0%

FB NH

17.0

-1.0%

UN IT YB N K

0.62

8.8%

A C C ESS

11.2

0.0%

OKOM UOIL

74.95

6.3%

WA P C O

10.6

0.0%

8.5

-3.0% -1.7%

T ic k er

T ic k er

OA N D O

2.27

5.6%

GUA R A N T Y

C OUR T VILLE

0.21

5.0%

M TNN

8.0

UC A P

2.86

3.2%

Z EN IT H B A N K

6.6

2.8%

T R A N SC OR P

0.64

3.2%

T R A N SC OR P

5.5

3.2%

Z EN IT H B A N K

16.35

2.8%

F ID ELIT YB K

5.4

-1.2%

ET ER N A

2.03

1.5%

UB A

4.7

0.0%

Ƶŵ tƌŝƩĞŶ ƌŽƐĞ ϭϲ͘Ϭй LJͬLJ ƚŽ േϰ͘ϲďŶ ĨƌŽŵ േϰ͘ϬďŶ ŝŶ YϮ͗ϮϬϭϵ

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

T o p 10 L o s e r s

ǁŚŝůĞ ƉƌŽĮƚ ĂŌĞƌ ƚĂdž ŝŶĐƌĞĂƐĞĚ ϭϳ͘ϵй ƚŽ േϲϯϱ͘Ϭŵ ĨƌŽŵ

T ic k er

േϱϯϴ͘ϳŵ ŝŶ YϮ͗ϮϬϭϵ͘

T OT A L SEP LA T

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

87.80

-9.9%

M TNN

939.5

-1.7%

282.00

-9.8%

GUA R A N T Y

190.4

-3.0%

/ŶƚĞƌŶĂƟŽŶĂů ƌĞǁĞƌŝĞƐ WůĐ ;hŶĂƵĚŝƚĞĚ YϮ͗ϮϬϮϬ ZĞƐƵůƚͿ͗ ZĞǀĞͲ

NP FM CRFB K

1.31

-7.7%

WA P C O

130.8

0.0%

ŶƵĞ ĚĞĐůŝŶĞĚ Ϯϰ͘ϳй LJͬLJ ƚŽ േϮϱ͘ϯďŶ ĨƌŽŵ േϯϯ͘ϱďŶ ŝŶ YϮ͗ϮϬϭϵ

UA C N

6.80

-6.8%

Z EN IT H B A N K

107.7

2.8%

J B ER GER

15.00

-6.2%

FB NH

84.2

-1.0%

69.8

0.0% -9.8%

ǁŚŝůĞ ůŽƐƐ ĂŌĞƌ ƚĂdž ƐƚŽŽĚ Ăƚ േϯ͘ϳďŶ ĨƌŽŵ േϮ͘ϵďŶ ŝŶ YϮ͗ϮϬϭϵ͘

J A IZ B A N K

0.57

-5.0%

A C C ESS

NA HCO

2.10

-4.5%

SEP LA T

67.1

3.90

-3.7%

NB

57.3

0.0%

GUA R A N T Y

22.60

-3.0%

J B ER GER

56.1

-6.3%

GUIN N ESS

13.50

-1.8%

D A N GC EM

46.5

0.0%

PZ

Afrinvest West Africa Limited

Brokerage

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com

Oluwarotimi Ashimi | oashimi@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

35

WEDNESDAY, JULY 29, 2020 ˾ T H I S D AY

MARKET NEWS

Q1: Airtel Africa Records $851m Revenue, $57m Net Profit Goddy Egene Airtel Africa Plc has reported a net profit of $57 million for the first quarter (Q1) ended

June 30, 2020, showing a decline of 56 per cent compared with $132 million in the corresponding period of the previous year.

The telecommunications firm

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

posted an increase of 6.9 per cent from $796 million to $851 million in the corresponding. The growth in revenue was largely supported by healthy growth

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 27Jul-2020, unless otherwise stated.

in Data (up 28 per cent) and Mobile Money (20.0 per cent) while Voice revenue (down 3.2 per cent) declined.

Higher depreciation (up 8.8

per cent, higher net finance costs (up 20.7 per cent) and absence of exceptional non-operating income affected the pre-tax profit, declining by 33.5 per

cent to $111 million from $167 million. Net profit dipped 56.8 per cent to $57 million from $132 million as a result of a 57.3 per cent jump in tax expenses.

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 118.09 122.26 -7.67% Afrinvest Plutus Fund 100.00 100.00 2.33% Nigeria International Debt Fund 359.39 359.39 25.78% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 6.41% AIICO Balanced Fund 3.05 3.11 23.78% 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 6.20% Anchoria Equity Fund 96.93 97.26 -5.16% Anchoria Fixed Income Fund 1.30 1.30 12.31% 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 14.09 14.52 -8.01% ARM Discovery Fund 334.38 344.46 -3.20% ARM Ethical Fund 30.36 31.27 4.39% ARM Money Market Fund 1.00 1.00 4.77% 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 92.90 93.55 -3.31% AXA Mansard Money Market Fund 1.00 1.00 5.01% 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 2.16 2.16 21.73% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 1.83 1.85 6.44% 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 0.06 0.04 5.71% Paramount Equity Fund 10.80 11.00 -13.70% Women's Investment Fund 109.00 109.94 -1.29% 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 4.93% Cordros Milestone Fund 2023 99.96 100.19 Cordros Milestone Fund 2028 100.58 100.81 Cordros Dollar Fund ($) 101.33 101.33 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 3.78% Coronation Balanced Fund 0.94 0.95 1.39% Coronation Fixed Income Fund 1.59 1.59 19.65% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 4.27% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 4.66% EDC Nigeria Fixed Income Fund 1,180.02 1,190.63 6.30% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,386.21 1,387.45 13.64% FBN Balanced Fund 150.14 151.29 2.26% FBN Halal Fund 107.78 107.81 7.78% FBN Money Market Fund 100.00 100.00 0.00% FBN Nigeria Eurobond (USD) Fund - Retail 118.26 118.72 1.88% FBN Nigeria Smart Beta Equity Fund 111.95 113.71 -13.97% 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 4.11% Legacy Debt Fund 3.79 3.79 3.83% Legacy Equity Fund 1.09 1.11 -3.77% Legacy USD Bond Fund 1.11 1.11 2.92% 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 Growth Fund 3,096.48 3,128.59 1.80% Coral Income Fund 3,204.78 3,204.78 4.19% FSDH Treasury Bills Fund 100.00 100.00 4.42% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A 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 4.07% Vantage Balanced Fund 2.30 2.34 5.15% Vantage Guaranteed Income Fund 1.00 1.00 8.07% Kedari Investment Fund (KIF) 148.81 149.43 3.78% 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 1.24 1.26 6.23% Lotus Halal Fixed Income Fund 1,122.74 1,122.74 6.10% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.35 1.38 10.95% PACAM Fixed Income Fund 12.03 12.09 6.69% PACAM Money Market Fund 10.00 10.00 3.60% PACAM Equity Fund 1.00 1.01 PACAM EuroBond Fund 106.33 108.74 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 113.40 115.48 -2.07% 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 1.01 1.01 5.73% 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 2,521.35 2,532.80 0.36% Stanbic IBTC Bond Fund 210.33 210.33 0.49% Stanbic IBTC Ethical Fund 0.88 0.89 0.57% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 0.60% Stanbic IBTC Iman Fund 154.92 156.64 0.38% Stanbic IBTC Money Market Fund 100.00 100.00 4.56% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 -0.34% Stanbic IBTC Dollar Fund (USD) 1.16 1.16 0.38% Stanbic IBTC Shariah Fixed Income Fund 118.18 118.18 0.00% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.13 1.15 -5.27% United Capital Bond Fund 1.83 1.83 6.02% United Capital Equity Fund 0.64 0.65 -9.66% United Capital Money Market Fund 1.00 1.00 5.08% United Capital Eurobond Fund 113.55 113.55 3.94% United Capital Wealth for Women Fund 1.02 1.03 -2.64% 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 Equity Fund 10.20 10.31 -0.78% Zenith Ethical Fund 11.63 11.69 -0.10% Zenith Income Fund 24.45 24.45 9.83% Zenith Money Market Fund 1.00 1.00 4.79%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

116.57

4.01%

53.25

2.31%

Bid Price

Offer Price

Yield / T-Rtn

9.16 83.00 66.36

9.26 84.76 67.55

5.18% -2.34% 0.53%

Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.78 3.99 11.28 1.00 11.34 189.88

2.82 4.07 11.38 1.00 11.54 191.88

-21.45% -32.28% -6.81% 5.19% 9.01% 0.68%

NAV Per Share

Yield / T-Rtn

108.03

16.90%

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.

36

WEDNESDAY JULY 29, 2020 â&#x20AC;¢T H I S D AY

WEDNESDAY JULY 29 2020 â&#x20AC;¢ T H I S D AY

37

38

WEDNESDAY JULY 29, 2020 â&#x20AC;¢T H I S D AY

WEDNESDAY JULY 29, 2020 ˾ T H I S D AY

39

NEWSXTRA

Loan Agreements: House Uncovers Clauses Conceding Nigeria’s Sovereignty to China Summons Amaechi, Ahmed, Pantami Udora Orizu in Abuja The House of Representatives yesterday raised the alarm over clauses in Article 8(1) of the commercial loan agreement signed between Nigeria and Export-Import Bank of China, which allegedly concedes sovereignty of Nigeria to China in the $400 million loan for the Nigeria National Information and Communication Technology (ICT) Infrastructure Backbone Phase II Project, signed in 2018.

The controversial clause in the agreement signed by Federal

Ministry of Finance (Borrower) on behalf of Nigeria and the Export-Import Bank of China (Lender) on September 5, 2018, provides that: “The Borrower hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets.”

The House of Representatives has therefore summoned the

Minister of Transportation, Mr. Rotimi Amaechi; Minister of Communication, Ali Isa Pantani; and Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed.

The ministers are expected to provide answers on $500 million loan to be sourced from the Export-Import Bank of China for railway lines in the country.

Also, summoned alongside the ministers is the director general of the Debt Management Office (DMO), Ms. Patience Oniha.

They are also to provide details on the agreement signed between the federal ministry of transport and the China Civil Engineering Construction Corporation (CCECC) in respect of some railway projects in the

country.

The projects involved are the Abuja-Kaduna, Lagos-Ibadan, Ibadan-Kaduna and Kaduna-Kano railways lines.

Amaechi has however warned that the Chinese authorities may not sign the $5.3 billion Ibadan-Kano rail line loan if the lawmakers continue to investigate the agreement.

Chairman of the House committee on Treaties, Protocol and Agreements, Hon. Ossai Nicholas Ossai issued the summons yesterday at the public hearing with MDAs on review of Nigeria’s bilateral loan agreement.

Ossai said they are expected to appear on August 17, unfailingly with details of the contracts concerned.

Nigeria’s COVID-19 Cases Rise by 624 to 41,804 MartinsIfijeh Nigeria has recorded 624 new cases of COVID-19, bringing to 41,804 the number of confirmed cases in the country.

Announcing this yesterday, the Nigeria Centre for Disease Control (NCDC) said Lagos recorded 212 new cases; Oyo, 69; Niger, 49; Kano

and Osun, 37 each; Federal Capital Territory (FCT), 35; Plateau, 34; Gombe, 33, Edo and Enugu, 28 each; Ebonyi, 17; Delta, 10; Katsina, nine; Ogun, eight; Rivers, seven; Ondo, five; Kaduna, four; and Nasarawa, two.

It said: “Nigeria has so far recorded 41,804 new cases of COVID-19. 18,764 patients have been discharged, while 868 persons have died.”

Killings: Call El-Rufai to Order, Southern Kaduna Elders Tell Buhari

CAN, northern christian elders seek end to killings

Onyebuchi Ezigbo in Abuja and John Shiklam in Kaduna The Southern Kaduna Elders Forum (SOKAF), led by a former military governor of old Rivers state, Gen. Zamani Lekwat (rtd), has broken its silence over the killings and wanton destructions in the area, calling on President Muhammadu Buhari to call the Kaduna State Governor, Mallam Nasir El-Rufai to order.

The southern Kaduna elders, Christian Association of Nigeria (CAN) and Northern States Christian Elders Forum (NOSCEF), have also called on Buhari to take urgent steps to stop the killings.

In a statement issued yesterday in Kaduna, the southern Kaduna elders said, it cannot continue sitting and folding its arms in the face of continued violence that portends a bleak future for generations yet unborn.

The statement was signed by the secretary of the forum, Mr. Peter Buba.

Buba said “Southern Kaduna has been in the eye of the storm over the incessant attacks and massive destruction of lives and property in the past few weeks” stressing that “as elders of the area and indeed Kaduna state, we are greatly disturbed by the unfolding tragedy ripping across our land”.

“We cannot therefore, afford to continue sitting and folding our arms in the face of the continued violence that portents a bleak future for future generations” the statement added.

The elders also asked, President Buhari to call Nasir el-Rufai, the Kaduna state governor “to order to live up to the tenets of his office being the Chief Security Officer of

the state on this serious destruction of lives and property of citizens.”

“What is more, he (el-Rufai) once publicly confirmed the knowledge of where the bandits come from and even paid them money to stop the killings which still persists on a massive scale.

“All in all, the heartless destruction of lives and property in Chikun, Kajuru Zangon Kataf, Kauru, Kaura, Sanga and Jema’a LGAs, despite the curfew, is a serious embarrassment which should worry the power that be.

“The time for government to justify the confidence reposed in it by the people is therefore, overdue” the statement said.

The elders commended the Southern Kaduna Peoples Union, an umbrella body for ethnic nationalities in the area, saying “We have come to acknowledge SOKAPU as the voice and hope for Southern Kaduna. And we call on our people to support SOKAPU for the good work it has been doing.”

“As everyone knows, in their oaths of office, Mr. President and all the 36 state governors undertook to create a conducive environment for the peaceful co-existence of all citizens irrespective of creed, religious or ethnic, to ensure a seamless development and healthy growth of our country, given the fact that we have lived together in an integrated and symbiotic manner until the brutal invasion of our communities by those who government have come to confirm as foreign Fulani.

“What is happening in Southern Kaduna today and by extension some states of the federation is at variance with the above laudable objective,” Buba said.

STRENGTHENING REGIONAL TIES...

President Muhammadu Buhari (left), and the Executive Secretary of the Gulf of Guinea Commission , Mrs. Florentina Adenike Ukonga, during the virtual meeting held at the Presidential Villa, Abuja...yesterday GODWIN OMOIGUI

Anxiety as FG Moves to Recover 149 Illegally Occupied Properties Alex Enumah in Abuja There is palpable fear as the federal government has commenced the process of recovering about 149 of its properties that are illegally occupied across the country.

Investigation reveals that the government through an agent has initiated a lawsuit at the High Court of Lagos State for the recovery of possession of the properties through Order 57 of the Civil Procedure Rules of the High Court of Lagos State.

The suit No: ID/2543LMW/2020 involves Nurudeen & Co. Nigeria

Limited v. The Occupier/Persons in Occupation Before proceeding to court, the Federal Ministry of Justice through the Attorney-General of the Federation, Mr. Abubakar Malami (SAN), recently commissioned an agent “to identify and recover possession of landed properties belonging to the federal government within all the states of the federation and which are currently being used and occupied by unauthorised persons who do not have the license or authority of the Federal Government of Nigeria to occupy

the properties”.

A document obtained by THISDAY showed that out of the 149 properties currently being occupied by unauthorised persons, over 120 of them are located within Ikoyi in Lagos State.

One of the lawyers to the government, however stated that the agent had earlier published steps which an occupier or an interested person in any of the identified properties can take in order to ensure that its interest in the property is adequately protected.

Some of the properties

affected include: 8A, Bedwell Avenue Ikoyi; 3, Bourdillon Road, Ikoyi; 6, Bourdillon Road, Ikoyi; 10-11 Bourdillon Road, Ikoyi; 16-18 Bourdillon Road, Ikoyi; 34, Bourdillon Road, Ikoyi; 26, Cameron Road, Ikoyi; 17A, Cooper Road, Ikoyi; 17B, Cooper Road, Ikoyi; 17C, Cooper Road, Ikoyi; 2A, Falomo, Ikoyi; 2, Fowler Road, Ikoyi; 4, Fowler Road, Ikoyi; 1, George Street, Ikoyi; 2A, George Street, Ikoyi; 6, Glover Street, Ikoyi; 7, Glover Street, Ikoyi; 9, Glover Street, Ikoyi; 43B, Glover Street, Ikoyi.

COVID-19: Hydrochloroquine’s Efficacy Claim Unproven, Says Guild of Medical Directors

Martins Ifijeh

The Guild of Medical Directors (GMD) has called on Nigerians to disregard claims in a viral video that hydroxychloroquine, zinc and zithromax are effective in the treatment of COVID-19.

The viral video had showed a doctor, Stella Immanuela, who during a press briefing in Washington DC, said her hospital in Houston,

Texas successfully treated 350 COVID-19 patients with hydrochloroquine, zinc and zithromax, and that the drug regime cures the disease.

But in a statement made available to THISDAY yesterday, the President, GMD, Prof.

Olufemi Emmanuel Babalola said her claims were not scientifically proven and were her personal and unsubstantiated opinion, which

must be taken with a pinch of salt.

He said: “We have watched with dismay the viral video of Dr. Immanuel, a doctor in the US. The video has been shared all over the country and led to many people justifiably asking the question: ‘What do you think, doctor?

“The video was part of a news conference held in America. The event was hosted

by the Tea Party Patriots.

The organisation, America’s Frontline Doctors, a group founded by Dr. Simone Gold, a board-certified physician and attorney, and made up of medical doctors, came together to address what the group calls a ‘massive disinformation campaign’ about the coronavirus. Dr. Immanuel was among the doctors who spoke.

Senate Summons Ahmed, Fashola, AGF over N2.7tn FG’s Legacy Road Projects The Senate yesterday summoned the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, over the funding status of three federal government legacy road projects estimated to cost N2.7trillion.

The Chairman, Senate Committee on Finance, Senator Solomon Adeola (Lagos West) gave the directive during the panel’s interactive session with

the Managing Director of the Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, in Abuja.

Also to appear before the Committee are the Minister of Works and Housing, Mr. Babatunde Fashola; Accountant General of the Federation, Ahmed Idris and the NSIA boss, Orji.

The legacy projects are the

Abuja-Kano road, Lagos-Ibadan expressway and the Second Niger Bridge.

Orji told the lawmakers that the federal government established the Presidential Infrastructure Development Fund (PIDF) in February 2018, to accelerate the execution of “certain critical, strategic infrastructure projects essential to the rapid growth and

modernization of the nation’s economy.”

He said that the PIDF is being managed by the NSIA to develop the Lagos-Ibadan Expressway, Second Niger Bridge Project, Abuja-Kaduna-Zaria-Kano road, Mambilla Hydro-Power Project and the East West Road.

According to him, the total cost of the projects is estimated to be N2.7trillion.

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Former UK Prime Minister Endorses Okonjo-Iweala for WTO Job New director general to emerge in November

Dike Onwuamaeze Despite the fact that United Kingdom has a candidate vying for the upcoming World Trade Organisation (WTO) directorgeneral election, former Prime Minister, Mr. Gordon Brown, has endorsed Nigeria’s candidate, Dr. Ngozi Okonjo-Iweala for the position.

This is coming as the WTO has indicated that its substantive director general would be chosen

by November 7, 2020, to replace the outgoing Director General of the WTO, Mr. Roberto Azevedo.

The Times, a British newspaper, quoted Brown as saying Okonjo-

Iweala has a record of delivering results in “the toughest of jobs”.

Former UK Trade Secretary, Liam Fox, is the British candidate in the WTO election.

Brown said Okonjo-Iweala is respected across the world and that she would make an “outstanding success” of running WTO, which is facing an existential crisis while searching for its next director-general and grappling with the global economic disruption caused by COVID-19.

Meanwhile, the WTO has indicated that its substantive director general would be chosen

by November 7, 2020, to replace the outgoing Director General of

the WTO, Mr. Roberto Azevedo.

Azevedo announced in May that he would be resigning his appointment on August 31, a year ahead of the end of his tenure.

This November 7 date for the emergence of new director general was disclosed yesterday

during a press conference by the WTO’s Head of Press Section, Mr. Daniel Pruzin, who stated that the selection process would be guided “what we did in 2013” when the incumbent director general was chosen.

Pruzin also said that the

selection process of the new director general has entered its third phase that would run between July and September 2020.

He also disclosed that the third phase would consist of a three stage process that would prune the number of the candidates

from eight to one. It would also be a period when the troika (a committee of three) would ask the candidates a single question: “what are your preferences? And they will not be expected to put negative preferences.”

Akinyemi Wants Scientists, Experts to Lead CITIZENS’ ENGAGEMENT...

Task Force on COVID-19 L-R: Secretary to the Enugu State Government, Prof. Simon Uchenna Ortuanya; Enugu State Deputy Governor, Mrs. Cecilia Ezeilo; Deputy Martins Ifijeh A former Minister of External Affairs, Prof. Bolaji Akinyemi, has said Nigeria will do better in the management of COVID-19 if scientists and health experts lead the Presidential Task Force currently coordinating response against the pandemic.

Speaking on Arise Television, the broadcast arm of THISDAY, yesterday, he said although Nigeria was not doing badly in managing the virus, the idea of policy makers leading the fight against COVID-19 has led to serious problems in the United States and Brazil.

Prof. Akinyemi said: “Nigeria has not had too many problems because we have not been overwhelmed by high numbers of COVID-19 cases. But things could be managed better by core experts.

My own discernment is that we seem to be following western countries on how they are handling the disease. As at now, no country knows what the best method is

against the virus.”

He explained that it would have been a good idea if Nigeria was also championing research and development to find a solution to the pandemic, adding that: “We don’t put money into research and development. In the 1950s, University College Hospital (UCH) Ibadan was one of the best in the world, but now it is not more than a place where drugs are dispensed.

“See how much countries are putting into vaccine research. If we had put money into research, by now, we would be having conversations around producing vaccines and drugs. We should start teaching secondary school students about research and development.

That is the way Japan started.”

He said despite priority not given to the health sector, the country still produces one of the best doctors globally, noting that this has attracted the United States and the United Kingdom, which take them to their countries. “We are not treating researchers in any field well here,” he added.

Okowa Salutes Asaba Monarch, Edozien at 96 Omon-Julius Onabu in Asaba Delta State Governor, Dr. Ifeanyi Okowa, has joined eminent Deltans and Nigerians to congratulate the Asagba of Asaba, Obi (Prof) Chike Edozien, on the occasion of his 96th birthday.

Okowa said the Asaba monarch has in 29 years on the throne of his ancestors “provided purposeful, courageous and tenacious leadership” to his people and therefore deserved to be celebrated on this special occasion of his birthday anniversary.

In a statement issued by his Chief Press Secretary, Mr. Olisa Ifeajika, in Asaba yesterday, Okowa commended the monarch for making Asaba peaceful and investment-friendly during his reign.

He joined the Edozien family and people of Asaba at home and in the Diaspora in celebrating the nonagenarian monarch, “scholar per excellence, bridge-builder and elder statesman on this outstanding point in the journey

of his life.”

He prayed that the traditional ruler would remain in good health, wisdom and strength to continue leading the people of his kingdom.

The governor lauded the erudite professor and monarch for his contributions to the development of Asaba and for being a good host to Deltans and Nigerians as the traditional ruler of the capital city of Delta State.

Okowa noted that the Asagba of Asaba has distinguished himself by initiating series of cultural and traditional reforms for the enhancement of the living conditions of the people of the kingdom, and ensured their appropriate recognition and strategic relevance in the everimportant traditional institution in the society.

According to Okowa, “On behalf of the government and people of the state, I warmly felicitate with His Royal Majesty Obi Chike Edozien CFR, the Asagba of Asaba, on the occasion of his 96th birth anniversary.

Speaker of the state House of Assembly, Hon. Uche Ugwu; and Chairman, Enugu State Council of Traditional Rulers, Igwe Lawrence Agubuzu, during the citizens’ engagement on the 2020 revised budget in Enugu... yesterday.

Appeal Court Jails Ex-NAF Chief, Mamu The Court of Appeal in Abuja has reversed the discharge and acquittal of former Group Managing Director of the Nigerian Air Force (NAF) Holding Company and Air Force Commanding, Training Command, Air Vice Marshal

Alkali Mohammadu Mamu on corruption charges by Justice Salisu Garba of the High Court of the Federal Capital Territory (FCT).

The three-man panel of the Court of Appeal, in a unanimous judgment on July 15, 2020,

convicted and sentenced Mamu to two years’ imprisonment in respect of one, out of the four counts, in a charge marked: FCT/HC/CR/182/2016 on which he was arraigned by the Economic and Financial

Crimes Commission (EFCC).

The appellate court acquitted him on three other counts – one, three and four – on the grounds that the prosecution failed to prove those counts.

One Killed as Soldiers, Police Repel Bandits’Attack on Plateau Farmers Seriki Adinoyi in Jos Over 200 farmers in Miango community of Bassa Local Government Area of Plateau State last Monday escaped mass attack by bandits as a combined team of soldiers and policemen repelled the attackers suspected to be herdsmen.

Following the exchange of gun fire, a mobile policeman was allegedly killed.

Chairman of Miango Youths

Development Association in the area, Mr. Nuhu Nkali, confirmed the development in Jos yesterday.

Nkali said a mobile police officer identified as Mr. Abdul, was however not lucky, as he died a few hours later following complications he suffered during the attack.

He said trouble started when the farmers, who were mostly youths, were working on a community farm in Miango community when over one

hundred cows belonging to the Fulani herders invaded the farm.

According to him, “The cattle were arrested by the soldiers, but a few minutes later the Fulani herders responded resulting in a gun battle targeted at over 200 youths who were weeding the farm and preparing it for fertiliser application.

“All workers in the farm ran for their lives while the military engaged the Fulani herders in gun battle for about 20 minutes.

“In the process, a mobile police officer involved in the gun battle and whose name was given as Abdul, was rushed to the hospital.

But this morning, (Tuesday), he was confirmed dead as a result of complications he suffered during the incident. It was really an unfortunate incident.”

However, spokesman for the state Police Command, Mr. Gabriel Ubah Ogaba, did not respond when contacted on phone for confirmation.

A’Court Affirms Adeyemi’s Election as Kogi West Senator The Abuja Division of the Court of Appeal yesterday dismissed the appeal filed by former senator representing Kogi West, Dino Melaye, challenging the victory of his successor, Senator Smart Adeyemi, at the November 2019 by-election.

The Justice Ibrahim Saulawa-led three-man bench, in its judgment on the appeal, affirmed the June 10, 2020 judgment of the Kogi State National Assembly Election Petitions Tribunal, Abuja, upholding Adeyemi’s election.

The panel, before dismissing

the appeal, unanimously resolved all the seven issues considered in the case against the appellants – Melaye and his party, the Peoples Democratic Party (PDP).

It also awarded the cost of N50,000 against the appellants and in favour of the respondents.

Although, the tribunal had ruled in favour of Adeyemi in the conclusion of its judgment, the senator had filed a crossappeal against some portions of the judgment he considered unfavourable.

But the Court of Appeal in a

separate judgment dismissed the cross-appeal for being incompetent as it was filed out of time.

The judgment of the Court of Appeal on disputes arising from state Houses of Assembly and National Assembly elections is the final, as further appeal to the Supreme Court is not permissible under the law.

The three-man panel of the tribunal led by Justice Isa Sambo, had on June 10, 2020 unanimously affirmed Adeyemi’s election as the winner of the disputed poll.

The rerun, which held in 53 polling units on November 30, 2019, was ordered in the judgment of the Court of Appeal, which nullified Melaye’s victory in the main election earlier held in March 2019.

The Independent National Electoral Commission had declared Adeyemi of the All Progressives Congress, who garnered 88,373 votes as the winner of the poll.

INEC declared that he defeated Melaye of the Peoples Democratic Party who polled 62,133.

Malabu Scandal: Nigeria Expecting $200m from Netherlands, Switzerland, Says Malami Alex Enumah in Abuja The Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami has said that Nigeria is awaiting the return of $200 million from The Netherlands and Switzerland as proceeds from Malabu Oil deal, involving Oil Prospecting Lease (OPL) 245.

Malami made this known

yesterday while declaring open a capacity building workshop and interactive session with judiciary correspondents in Abuja.

The minister, who gave a scorecard of the ministry in the past one year, disclosed that “due to the anti-corruption crusade of the present administration, we facilitated the recovery of $62 billion arrears from oil companies as part of federation government

Production Sharing Agreement (PSA).

“Also recovered within the period is the sum of $311 million from the U.S. and New Jersey, in the third phase of Abacha loot and another $6.3 million Abacha loot from the Republic of Northern Ireland”.

Malami said the monies have been paid into the federal government treasury for utility

development such as LagosIbadan Expressway, Kano-Abuja Expressway and the Second Niger Bridge in line with the agreement reached with the foreign partners.

He further disclosed that over N685 million was recovered through the help of whistleblowers within the last one year while N500 million was recovered from forfeited vessels, trucks, and barges.

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Military Blames Limited Manpower for Southern Kaduna Killings John Shiklam in Kaduna The Commander of Operation Safe Haven in Kaduna State, Major General Chukwuemeka Okonkwo, has revealed that the military does not have enough manpower to tackle the violence in the southern part of the state.

Speaking with reporters after a security meeting presided over by Governor Nasir el-Rufai, Okonkwo said the military is strategising on how to boost security.

The commander said more soldiers will be deployed in the area to tackle the “criminal elements” responsible for the killings and destruction in the area.

“What we have were attacks on some communities and reprisal attacks. You have Kataf youths, Fulani militias and the criminal elements of both sides,” Okonkwo said.

“Any incident is enough to spark off crisis in that area; there have been lingering disputes and animosities, banditry and cattle rustling there.

“We have reviewed our operations. We are going to close ranks. We are going to be more robust in the days to come. If one or two attacks took place, three were prevented. If you know the area very well, the communities are far and dispersed, they are

Rivers Courts Sentence Four to Death by Hanging for Kidnap, Murder Ernest Chinwo in Port Harcourt Two Rivers State High Courts in Port Harcourt yesterday sentenced four persons to death by hanging for the kidnap and murder of a lawyer, Sampson Worlu, as well as the murder of a woman, Helen Ibiba Bobmanuel.

Justice Chiwendu Nwogu, who presided in High Court 21, sentenced the three personsChiwendu Alozie, Wilfred Jumbo and Gift Amadi-to death for the murder of Worlu in 2015.

In High Court 3, Hon. Justice Silverline Iragonima also sentenced Telema Amaso to death for strangling late Bobmanuel to death in 2013.

Iragonima also sentenced one Ndubisi Chukwuemeka to 14 years in prison for being an accessory to the murder of Bobmanuel. She also sentenced the accused to seven years in prison for stealing.

In his judgement, Nwogu said the court relied on the evidence provided by the prosecution team and the confessional statements made by the accused to arrive

at the conviction.

The trial judge said the court is convinced that they committed the crime and the law cannot look the other way round.

One Chijioke Wisdom, who was arrested along with the three convicted persons, THISDAY gathered, died while in prison custody awaiting trial.

In her own judgement, Iragonima said the first and second defendants were convicted because overwhelming evidence before the court, including the confessional statements given to the police, indicted them of committing the crime.

She said even though the first defendant, Telema Amaso, denied and retracted his confessional statements, he failed to convince the court that he never committed the crime.

On the conviction of the second defendant, Chukwuemeka, for stealing, Justice Iragonima said the court found him guilty because his claims that he never knew that the first defendant has committed crime did not convince the court to discharge him of the offence.

Ondo Guber: INEC to Unveil Candidates of 17 Political Parties Chuks Okocha in Abuja The Independent National Electoral Commission (INEC) said yesterday that it would release the details of the 17 political parties that have conducted their governorship primary elections on Friday.

The INEC’s National Commissioner and Chairman Information and Voter Education Committee, Mr. Festus Okoye, said that the list and personal particulars of the candidates as submitted to the INEC by the 17 political parties would be uploaded on the commission’s website and published in its Ondo State Office in Akure on Friday 31 July 2020.

Okoye explained that this is in compliance with section 31(3) of the Electoral Act 2010 (as amended), adding that the list would also be published on the commission’s social media platforms on the same day.

He explained that by

section 31 (5) and (6) of the Electoral Act, a person who has reasonable grounds to believe that any information given in the affidavit or any of the documents submitted by any of the candidates is false, may file a suit in the law court seeking a declaration that such information is false.

“If the court determines that the information is false, the court shall issue an order disqualifying the candidate from contesting the election,” he explained.

Okoye said that the INEC’s meeting that took place yesterday deliberated on a number of issues which include the Nasarawa Central State Constituency Election scheduled for August 8, 2020, the preparations for the Edo Governorship Election holding on September 19, 2020 and the conduct of party primaries for the Ondo State Governorship Election scheduled to hold on October 10, 2020.

several kilometres apart from each other. The terrain is difficult to access with vehicles.

“And we have limitation of manpower but of course you

know that we are committed.

But be that as it may, we are going to get more troops. “We are strategising, we will deploy as much as possible to shorten

our response time. Perhaps, we used to respond a bit late, but if we had not responded, we could have had more casualties.”

The commander called on

communities in Southern Kaduna to embrace peace, adding that a conducive atmosphere will be created for them to meet, dialogue and resolve issues amicably.

GIVING BACK TO SOCIETY...

L-R: President of Rotary Club of Abuja Metro, Rtn. Iheazor Obioha; District Governor, Rotary International District 9125,Rtn. Jumoke Bamigboye; and District Secretary, Rtn. Dolu Oyeyiola, during the Rotary Club of Abuja Metro’s free medical service for Hepatitis virus test to mark the World Hepatitis Day 2020 in Abuja... yesterday.

House urges Nigerians to Disregard Akpabio’s Contract Allegations Udora Orizu in Abuja The House of Representatives has urged Nigerians to disregard the letter recently made public by the Minister of Niger Delta Affairs, Senator Godswill Akpabio, naming the lawmakers that allegedly cornered 60 per cent contract of the Niger Delta Development Commission (NDDC).

Akpabio, had on Monday, released the full version of the letter that he sent to the House of Representatives, naming lawmakers who allegedly got contracts from commission.

The House, in a statement that was issued yesterday night by its spokesman, Hon. Benjamin Kalu, described the allegation as spurious and a calculated

attempt to distract Nigerians from the ongoing investigation.

It said the minister should stop deflecting attention from the demand to give an account of how the commission spent N81.5 billion.

The House also said that projects presented by the minister are not within the scope of the investigation

and have not addressed the leadership’s ultimatum for him to publish the list of names of the members who he claimed took 60 per cent of NDDC projects from January to May 2020.

The House stated that it is still considering the documents submitted by Akpabio and would sue him if the circumstance demands.

Pro-Chancellors Want 78 Private Varsities Reopened Victor Ogunje in Ado Ekiti The Committee of Pro Chancellors of Private Universities (CPCPU) in Nigeria, have pleaded with the federal government to reopen the 78 private universities in the country.

These universities have been closed alongside other educational institutions in Nigeria since March 23 due to the spread of COVID-19 pandemic disease in the country.

In a communiqué issued at the end of its emergency virtual

meeting on July 25, the CPCPU made it abundantly clear that the private universities are ready to reopen having put in place all the necessary requirements and protocols specified by the Presidential Task Force on COVID-19 to ensure a safe and secure campus.

“We are prepared to open in phases, first with the graduating students, and probably with the first year students,” the communiqué said.

The plea became imperative

because the CPCPU affirmed that its members around the country had made sustained efforts to comply with the guidelines for the reopening as detailed in the template it submitted through the Executive Secretary of the National Universities Commission, NUC, to the federal government.

The communiqué, which was signed by a former Minister of Education and Pro-Chancellor of Afe Babalola University, Ado Ekiti, ABUAD), Prof. Tunde Adeniran, highlighted the overwhelming

contributions that private universities have continued to make in the manpower training and development in Nigeria.

Adeniran stressed that the private universities remained fully committed to producing competent graduates in a timely manner through their ethical standards and settings that would build credible leadership and followership for a better Nigeria. This, Adeniran said, called for the full support of government as is the case in advanced countries of the world.

Court Orders Arrest of Former National Assembly Clerk Alex Enumah in Abuja A High Court of the Federal Capital Territory (FCT), has issued a bench warrant for the arrest of the immediate past Clerk of the National Assembly, Mr. Mohammed Omolori.

The warrant, which was issued on Monday by Justice Suleiman Belgore was sequel to an ex parte

application filed by the Economic and Financial Crimes Commission (EFCC) seeking an order of the court for the arrest of Omolori.

The anti-graft agency in the motion marked M/8728/2020, alleged that the respondent had ignored its invitation for him to report to the EFCC’s office over an investigation of a petition.

According to the commission, Omolori is being investigated

over his alleged complicity in the diversion of 14 Toyota Hilux vehicles and 13 Peugeot 508 valued at over N400 million.

The EFCC said that it has invited the Secretary of the National Assembly Commission, Mr. Adamu Mohammed Fika; Mr. Oluseye Ajakaye and others to its office.

It further stated that the invitees made revelations

indicting Omolori, upon which, letters were sent to him on November 4, 2019, which he failed to honour.

He was accused of dishonouring a similar letter dated March 16, 2020.

In view of his failure to honour the invitations, the EFCC stated that it was left with no option than to approach the court for warrant of arrest to be issued

Edo 2020: Obaseki Creates Women Wing Campaign Council Chaired Adibe Emenyonu in Benin City The Edo state Governor, Mr. Godwin Obaseki has created the Women Wing Campaign Council of the Peoples Democratic Party (PDP) ahead of the September 19 state’s governorship election The PDP’s women campaign council was structured to cover the senatorial zones, local governments as well as the wards and unit

levels.

The inaugural meeting of the women wing was chaired by Her Excellency, Betsy Obaseki and supported by the PDP Board of Trustees members, former Senator of the Federal Republic of Nigeria, Professor (Mrs) Stella Onu and former Minister of Women Affairs, Mrs. Josephine Anenih.

The First Lady of Edo State urged council to rise up as things

are now different and politics in Nigeria is changing.

Mrs Obaseki said that her interest is not just politics whenever she is in the midst of women but on how to deliver to Nigerians the results desired from politics.

She said: “Some people play politics for their personal gains.

They think only of their stomachs, only of themselves. But politics

is changing in Nigeria whether we like it or not. The decent and patriotic ones are more in numbers. Those supporting good governance are more in number, they just happen to be decent.”

Onu, in her address to the women, said that the Edo State Governor, Mr. Godwin Obaseki, is a treasure that must be preserved at all cost.

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Nigerian Students Now Beggars in UK, Dabiri-Erewa Tells NDDC The Chairman of Nigerians in Diaspora Commission (NiDCOM), Mrs. Abike Dabiri-Erewa, has appealed to

the Niger Delta Development Commission (NDDC) to pay the allowances, tuition fees and other incentives of

students on its scholarship schemes.

In a statement signed by the spokesperson of NIDCOM,

FG Plans $3bn Budget for Immunisation Says 20m Nigerians suffer hepatitis Onyebuchi Ezigbo in Abuja The federal government has expressed its commitment to spend $3billion to scale up immunisation in the country.

It said the programme would be implemented through the ‘Nigeria’s Strategy on Immunization and PHC Systems Strengthening (NSIPSS)’.

The government also said the number of Nigerians suffering from acute hepatitis infection as at 2018 was 20 million.

It stated that a National AIDS Indicator and Impact Survey conducted in 2018 showed a prevalence of 8.1 percent for Hepatitis B (HBV) and 1.1 percent for Hepatitis C (HCV).

The Minister of Health, Dr. Osagie Ehanire, gave the statistics at this year’s World Health Organisation (WHO) virtual high-level commemoration of the World Hepatitis Day and the launch of the guidelines for

prevention of mother-to-child transmission of hepatitis B, saying the federal government is working in alignment with regional resolutions to reduce chronic hepatitis B virus infection to less than 2 percent in children under five years by the end of this year.

Ehanire said: “One of the major challenges of hepatitis B birth dose vaccination was the inadequate domestic contribution to finance vaccines and expand access to services. In recent times, Nigeria has made important progress in this area. We are committed to a $3billion Nigeria Strategy on Immunization and PHC Systems Strengthening (NSIPSS).”

He explained that the plan is for the transitioning to financial ownership of the immunisation and primary health care system over a ten-year period from 2018 to 2028.

According to him, the plan is aimed at addressing inequities

in the uptake of routine vaccines and improvement of coverage for HBV birth dose, adding that in 2019, hepatitis B HBV birth dose coverage was 59 percent.

He said Nigeria is endemic for both viral hepatitis B and C. According to Ehanire, “In 2018, Nigeria conducted a National AIDS indicator and impact survey which showed a prevalence of 8.1 percent for hepatitis B (HBV) and 1.1 percent for hepatitis C (HCV). We could estimate that about 20 million people are chronically infected.”

He said Nigeria was one of the first African countries to introduce a birth dose of HBV vaccine in 2004.

The minister noted the the country followed up by establishing the National Viral Hepatitis Control programme in 2013 to coordinate all national efforts, and through this, developed national documents, including policies, strategic plan, guidelines, training materials and treatment centre directory.

Mr. Gabriel Odu, DabiriErewa said NDDC should intervene by promptly paying other incentives of students on their scholarship scheme to guarantee their stay and education in the United Kingdom.

According to her, she had in a letter to the Minister

of the Niger Delta, Senator Godswill Akpabio, in June, drew the attention of NDDC to the plight of the students that are under its scholarships scheme.

“The commission counts on the minister’s assurances that all outstanding payments to affected students will be made.

At the moment, there have been persistent calls by the students for urgent intervention.

“The deadline for payment of the fees of some of the students have expired or about to expire, non-payment of their allowances have turned many of them to virtually beggars,” she said.

Ex-NBA President Endorses Adesina for Bar Presidency Gboyega Akinsanmi in Lagos A former President of Nigerian Bar Association (NBA), Mr. Joseph Daudu (SAN) yesterday threw his weight behind Mr. Dele Adesina’s bid for election as the NBA President.

Daudu, who presided over the Bar between 2010 and 2012, justified his decision to support Adesina on the grounds that the association “needs a leader with tested ability to lead learned colleagues acquired from the grassroots.”

He endorsed Adesina, NBA’s former General Secretary in a statement yesterday, urging lawyers nationwide to elect him overwhelmingly on the account of his experience, integrity and maturity.

In his two-page statement, NBA’s former president admitted that the Bar was divided between the leadership rank of SAN and non-SANs among other criteria or factors at least for the office of President.

He, also, acknowledged that the Bar “is embroiled in a crisis of sort with the Corporate Affairs Commission (CAC). The beneficiaries of the legal economy emanating from the CAC are largely the exclusive preserve of young lawyers.

With the crisis the NBA has at hand, Daudu argued that the ‘Aluta’ strategy of resolution adopted by the young lawyers “is only fanning the resolve of management of CAC not to compromise its stand.”

On these grounds, NBA’s

president noted: “It will take the maturity and experience of a tested leader such as Dele Adesina (SAN) to resolve this and several other issues confronting lawyers and Nigeria as a nation.”

Besides Adesina’s capacity to manage the NBA with experience and maturity, Daudu observed that Nigeria “is in dire straits. As a result, this is not the time to have the Bar led by novices in the art of conflict management.”

He noted that the country “is plagued by severe security challenges in the nature of unrestrained kidnapping of our citizens, highway robbery, financial defalcations and malfeasances in government circles and the frittering away of the common patrimony of Nigerians.”

Sallah: FG Declares Thursday, Friday Public Holidays FAAN urges dignitaries, VIPs to adhere to COVID-19 guidelines at airports The federal government has declared Thursday and Friday, July 30 and 31, 2020 as public holidays to mark this year’s Eid-el-Kabir celebration.

This was disclosed yesterday in a statement signed by the Permanent Secretary, Minister of Interior, Georgina Ehuriah.

This is coming as the Federal Airports Authority of Nigeria (FAAN) has advised dignitaries and VIPs to ensure compliance with the airports’ protocols for their safety and that of other passengers during the Eid-el-Kabir

celebration The Minister of Interior, Mr. Rauf Aregbesola, while making the declaration of public holidays on behalf of the federal government, congratulated Muslim faithful and all Nigerians – both at home and abroad – on the occasion.

“He called on the Muslims to continue to imbibe the spirit of love, peace, kindness and sacrifice, as exemplified by the Holy Prophet Muhammad (Peace be upon Him) and to also use the period to pray for peace, unity, prosperity and

EXIT OF CHINWENDU HOSPITAL AND MATERNITY FROM NATIONAL HEALTH INSURANCE SCHEME

This is to notify that National Health Insurance Scheme Abuja; the Enugu State Zonal and State Offices and all the Health Maintenance Organizations we partner with and Guinea Insurance Company and the General Public that CHINWENDU HOSPITAL AND MATERNITY LTD, 29, Imo River Street, Housing Estate, Abakpa Nike Enugu State that our hospital has exited the scheme for now.

the stability of the country especially as the world is witnessing global health challenges caused by COVID-19 pandemic,” the statement said.

According to the statement, Aregbosola assured that the administration of President Muhammadu Buhari is fully committed to battling the scourge with the cooperation of all Nigerians.

He “emphasised that government would continue to foster peaceful coexistence, national cohesion and stability in its march towards actualising the full potentials of the country.”

Meanwhile, FAAN has advised dignitaries and VIPs to ensure compliance with the airports’ protocols for their safety and that of other passengers during the Eid-el-Kabir celebration.

The General Manager in charge of Public Affairs at FAAN, Mrs. Henrietta Yakubu, made the appeal in a statement issued yesterday in Lagos.

Yakubu said that the authority would no longer tolerate the harassment of protocol officers

by VIPs at the airport.

She said: “We will also like to re-state that protocol officers and orderlies of dignitaries will not be allowed into the airport - except if they are travelling alongside their principals, as only travelling passengers will be allowed into the airports.

“Also, dignitaries and VIPs are enjoined to please ensure compliance with the airports’ protocols for their safety and that of others.”

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INSECURITY AND IDENTITY POLITICS The government should work harder on the material and structural basis of insecurity and the separatist impulses.

Many compatriots (experts and non-experts alike) have been drawing the link between the abysmal lack of social security and the increasing threat to physical security.

Besides, the mismanagement of the identity politics by the Buhari administration has compounded the problem. One consequence of it is that criminality is being decorated with ethnic, religious and regional labels. Terrorists, bandits, armed robbers, kidnappers etc. are all criminals. They should be treated as such according to the law. The process of justice is not enhanced by the ethnic or religious identity of the suspected criminal.

The capacity of the state to perform its constitutional duty of ensuring the security of all is weakened by linking insecurity with the identitarian politics that is fast growing in the land.

In the circumstance, one could imagine that the job of law enforcement agents would become more problematic.

For instance, the religious and ethnic identities of the killers and the victims in southern Kaduna have eclipsed the heinous fact of criminality taking place in that part of Nigeria.

That was probably why the Commander of Operation Safe Haven, Major General Chukwuemeka Okonkwo, is reportedly making the efforts to deny that the killings in Southern Kaduna are not “ethnic cleansing.”

According to the general, what happened “were activities of criminal elements on both sides.” He attributed the violence to the attacks and reprisals by communities.

The job of soldiers, policemen and other security agents sent to keep peace in crisis zones would be made easier if their mission were perceived by all residents as that of rooting out the criminals troubling the communities.

The political solution is, of course, beyond the state agents. They should, however, avoid getting embroiled in the identity politics.

It is the job of political, religious, regional, ethnic, and community leaders to work peacefully against playing identity politics with criminality. In that wise, it would be easier to isolate the criminals for who they are while the law takes its course.

The danger of playing identity politics (of ethnicity, religion, regions etc.) with explosive security questions should be clear to all by now.

The victims of insecurity are spread all over Nigeria, although the incidence of criminality could be relatively higher in one part than the other at a particular time.

Terrorists have not stopped killing in the northeast, banditry is still rife in Katsina, and highways and communities across the country remain unsafe because of the activities of kidnappers and armed robbers.

For clarity, identity politics is squarely legitimate. Those playing it are only exercising their constitutional freedom of association and giving expression to their group interests.

So ethnic and regional groups are performing their self-assigned historical roles. They have elected to speak for their ethnic groups or regions.

It is the moral and political duty of those entrusted with managing the affairs of this nation and all those convinced about the rationality of integration to speak for Nigeria.

Buhari should give leadership in this direction. The President and Commander-in-Chief should take the promotion of national unity as a cardinal programme. He should be keenly conscious of the public perception that he is not doing enough in this respect at the moment In their words and actions, security agencies should, therefore, be wary of being perceived as criminalising the legitimate activities of those who champion their group interests.

Given the degree of the ethnic and regional contradictions worsened by the manipulation of the elite, Buhari’s response to the practioners of identity politics should not be mere rhetorical dismissal.

The President should respond by action of effective governance based on social justice to all persons and equity to all parts of the country. In any case, that is the duty assigned to him by the constitution. It is a symptom of lack of effective governance that the state appears so incompetent in dealing with the killers and other criminals. If the state performs its duty there would be no basis for any one to play politics of religion or ethnicity with insecurity.

So, governance is the word.

In his later years, eminent historian, Tekena Tamuno, published volumes of his reflections on governance, nation-building and security. You may not agree with all his conclusions, but you cannot ignore the sweep of his analysis. The quote above is from one of the volumes entitled Stakeholders at War in Nigeria: From Lord Lugard to President Jonathan Goodluck, published three years before he died in 2015.

Now this reporter finds the description of citizens as “stakeholders” somewhat problematic.

The category stakeholder suggests a tansanctional relationship between the nation and its citizens. Nigeria is not a business. It is a country of people with interests which are sometimes antagonistic. Each group or class could pursue its interests within the limit of the law.

“Dedicated caretaker” is, therefore, a more dialectical categorisation.

It is worth pondering Tamuno’s analysis of Nigeria problems that more caretakers are needed than those struggling for their narrow stakes instead of the national interest.

In the present situation of insecurity and divisive politics, the President should rise to the occasion and be the chief dedicated caretaker of the federal republic.

ISMAILA ISA FUNTUA: TELLER OF TRUTH TO POWER Beginning from United Nigeria Textile Limited (UNTL) in Kaduna in 1974, he proved to be a committed advocate and defender of the interests of the workers’ union, even though he sat among the “oppressors”. As UNTL’s Personnel Manager, not less than 8,000 workers - mostly low level - were at his mercy. I was privileged to be the chairman of the local union of workers then.

In those golden days of UNTL as the flagship of the nation’s then bourgeoning textile industry, workers ran three shifts daily, contributing in no small measure to the national economy.

It was perhaps a measure of the creativity and vigor of the management in which Mallam Funtua was an influential voice, that UNTL grew to add Zamfara Textile, Funtua Textile and Ikorodu Textile to its holding as a group.

At critical moments, Mallam Funtua always sided with the union. In the management, he was among the few who could look the Chinese bosses straight in the eyes and tell them off on matters affecting junior workers’ welfare or rights. He constantly opposed high-handedness as regard discipline and atonement for misconduct. As Personnel Manager, he insisted no worker could be fired summarily without being availed of the dignity of fair-hearing. A stickler for due

process. Termination of employment could only be initiated after failure to satisfactorily answer a query.

Whenever the year was drawing to an end, we could always count on Mallam Funtua to impress it on the management to give generous Christmas bonus. In fact, our expectations were often exceeded.

Once, just when the union was still contemplating how to word a petition with a view to extracting a concession from the management ahead of the approaching Christmas, came the staggering news that the Personnel Manager had beaten us to it by convincing the management to pay, not 100 percent, but 300 percent as Christmas bonus! So, that uncommon bonanza meant that workers received 13th,14thand15thmonthinDecember.

ItwasatraditionhepersuadedUNTLto sustain throughout his stint as Personnel Manager.

To tell you the distance Mallam Funtua would go to make peace, here is an untold story. Even when many had given up on the prospects of reconciling me with Governor Godwin Obaseki of Edo State, he made one last-ditch effort. He must have thought Governor Kayode Fayemi of Ekiti, being not just our mutual friend but also the Chairman of the Governors Forum, could break the tie.

So, early this year, he invited me to an exclusive meeting with Fayemi in Abuja. Without mincing

words, he asked the Ekiti governor why the difficulty in settling us, to which the latter expressed frustration with Obaseki, claiming that he had resisted all entreaties from him and other peacemakers.

“If you say you want peace between Adams and Godwin in Edo, how come the stories flying around that you’re part of the people trying to remove Adams from his position asAPC National Chairman?,” he pointedly asked.

Responding, Governor Fayemi denied being part of any gang-up against me. He stated that both of us had had close relationship as fellow governors in the past. He admitted that we might have had some differences lately pertaining to party matters, but that we remained close friends.

Well, the rest is now history.

At 78, there is no doubt that Mallam Funtua had lived a great life. We are unlike unbelievers who will question God’s will. Much as we would have wished he was still with us, we are however comforted that he raised worthy children and lived long to see his children’s children. More importantly, he left in multitude of others the legacy of service and truth.

I can only pray that God comfort the bereaved family, President Buhari, the Nigerian media and his numerous associates over this colossal loss.

Farewell, “My Oga”.

45

WEDNESDAY JULY 29, 2020 ˾ T H I S D AY

24 HOURS...

24 HOURS...

ASUU Accuses FG of Aiding Secret Recruitment in UNIPORT Ernest Chinwo in Port Harcourt The University of Port Harcourt chapter of the Academic Staff Union of Universities (ASUU) has accused the federal government of being behind the ongoing secret employment of academic and nonacademic staff in the university.

It also accused the federal government of allegedly compounding the problems

facing the university by its failure to inaugurate the governing council of the university despite inaugurating same in 13 other federal universities in the country.

Chairman of the University of Port Harcourt chapter of ASUU, Dr. Austen Sado, while addressing journalists in Port Harcourt yesterday, said a few individuals within the university system had hijacked the employment

exercise in the university, jettisoning transparency and equity in the guise that the government had directed against advertising the process.

Sado noted that if the illegality was allowed to continue, it would further deepen the crisis currently rocking the university.

He said: “We are disappointed that the government inaugurated a governing council of 13 universities but completely left out the

constitution of a governing council for the University of Port Harcourt.

“By that neglect or omission, the government has given the impression that it is in support of the violation of due process in the university system.

“If the government truly intends to solve the myriad of problems in the University of Port Harcourt and put the institution in the pedestal of excellence in teaching and research,

then the governing council is an indispensable part of that equation.

“We, therefore, call on President Muhammadu Buhari to constitute a governing council for the University of Port Harcourt.”

Sado stated further that the ASUU, being a critical stakeholder in the institution, could not ignore acts capable of truncating the quality of teaching and research in the university.

He said: “Apparently, the soliciting for applications is a smoke screen and those applications are destined to end up in the trash bin.

“ASUU UNIPORT as a critical stakeholder in the university will not turn a blind eye to this manifest violation that is capable of affecting the quality of teaching, researching and other administrative duties in the university.

Recent Uncovered Corruption Can Lead to Militancy, ActionAid Warns

Maina Regains Freedom after Nine Months in Detention

Michael Olugbode inMaiduguri

A former Chairman of Pension Reformed Task Team (PRTT), Mr. Abdulrasheed Maina, has been released from Kuje Correctional Centre in Abuja, nine months after his arrest.

The Economic and Financial Crimes Commission (EFCC) had arraigned Maina before Okon Abang, a judge of the federal high court, Abuja, on October 25, 2019.

He was arraigned alongside Faisal, his son, and firm, Common Input Property and Investment Ltd. In an interview with the News Agency of Nigeria (NAN), Maina’s lawyer, Mr. Adeola Adedipe, said his client was released on Monday evening after completing the necessary documents for his bail.

Adedipe said his client ought

The gale of corruption recently uncovered at the Niger Delta Development Commission (NDDC) and other federal government’s agencies might unleash militancy, economic downturn, trust deficits in governments, heightened poverty and exacerbate inequality gap.

This view was expressed yesterday by a Non-Governmental Organisation, the ActionAid Nigeria.

A statement by the ActionAid said: “While we welcome policy interventions by past and present governments in setting up institutions and designing of policies to address the lingering poverty of the people of the Niger Delta and Nigeria at large, we are really worried with the allegations and counter-allegations of corruption

and the indictment of institutions and individuals saddled with the responsibilities of addressing the excruciating poverty problems in the Niger Delta regions as well as other parts of the country.

“These current gales of accusations and indictments have corroborated a study carried out

by ActionAid Nigeria in 2015 that revealed the strong correlation between corruption and poverty in Nigeria.”

The statement added that: “We like to infer from the study and in line with what is currently playing out with the Economic and Financial Crime Commission (EFCC), the Federal Ministry of Justice (FMoJ), The Niger Delta Development Commission (NDDC0, the Nigeria Social Insurance Trust Fund (NSITF), the Ministry of

the Nigeri Delta (MoND) and the National Assembly ( NASS), that the country may be heading in the wrong direction to achieving the Sustainable Development Goals (SDGs), with the leadership crisis, regional conflicts and state of anarchy.

“The federal government still has the responsibility to do more by ensuring the region overcome the challenge of infrastructural deficit, environmental degradation, loss of means of livelihood etc.”

It lamented that: “Over the years, trillions of naira has been appropriated through budgets towards the development of the country. Yet the state of roads, electricity and water supply, schools, and hospitals remains inadequate to meet even the basic needs for a large part of the population.

to have been released on July 24 but it was delayed due to administrative procedures.

“It was already late last week Friday so they now have a new timeline shifted at 6 O’clock. We went there and everything was done,” he said.

On why Maina had been kept in detention after Abang further varied his bail conditions on June 29, the lawyer said: “It was also administrative. There were lapses here and there; transmission of processes from one department of government to another.”

Adedipe expressed delight over his client’s release, saying it would not only afford him the opportunity to get adequate medical attention but also enable him prepare for trial.

“We can only thank God and

this is good for us because we will now have time to prepare for his defence; we will now have good conferencing on the matter,” he said.

“We will have a better perspective of what the case is all about. And this will also allow him to treat himself you know he has been very ill in order to stand the trial.”

Afam Osigwe, another counsel of Maina, also confirmed his release from the correctional centre.

“Yes, Maina came out yesterday (Monday). We have met all the bail conditions but they did not release him until yesterday,” he said.

Through Joe Gadzama, another of his lawyer, Maina had on June 23, informed the court that Senator Ali Ndume, representing Borno South, had decided to stand as surety for him.

46

Ë&#x153; ͺΠË&#x153; ͺ͸ͺ͸ Ëž T H I S D AY

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

NFF Annuls Anambra State FA â&#x20AC;&#x2DC;Electionâ&#x20AC;&#x2122; As 22 delegates claim to have re-elected Senator Ifeanyi Ubah

The Nigeria Football Federation (NFF) has stated categorically that there has been no election into the executive committee of the Anambra State Football Association.

Chairman of Chairmen of Nigerian Football, Alhaji Ibrahim Gusau minced no words in declaring that what took place in the state on Monday, 27th July 2020 and which some stakeholders styled â&#x20AC;&#x2DC;an electionâ&#x20AC;&#x2122; was a charade of very low grade, and the NFF would never recognise such a sham. â&#x20AC;&#x153;That was an act of brigandage and the NFF fully dissociates itself from it. The Electoral Committee sent to the NFF a letter which they received from the Anambra State COVID-19 Task Force, requesting that the elections

into the State FA and the local football councils be postponed, in line with the situation in the country, as the ban on sporting activities and mass gatherings was still alive. â&#x20AC;&#x153;The same Electoral Committee issued a press statement on Monday, 27th July 2020 informing the general public that the elections would no longer hold, and regretted the inconvenience that the sudden postponement may have caused the candidates, delegates, observers, stakeholders and the general public. â&#x20AC;&#x153;In view of these, it is incomprehensible how anyone could have gone ahead with the charade they are calling â&#x20AC;&#x2DC;electionâ&#x20AC;&#x2122;, and you begin to wonder who actually conducted the so-called election,â&#x20AC;? Gusau

Ndidi Takes Consolation in Leicesterâ&#x20AC;&#x2122;s Europa Ticket Nigeria and Leicester City midfielder, Wilfred Ndidi who has been touted to be the missing link in Manchester Unitedâ&#x20AC;&#x2122;s engine room has described the Foxesâ&#x20AC;&#x2122; fifth place finish in the just ended English topflight as not a bad one altogether despite missing the ticket to the UEFA Champions League.

The Super Eagles enforcer who was adjudged the best tackler in the English Premier League this season took to Twitter to thank Leicesterâ&#x20AC;&#x2122;s loyal fans for sticking with the team through tick and thin. â&#x20AC;&#x153;We are a bit disappointed to finish 5th. â&#x20AC;&#x153;But overall, it was a great season,â&#x20AC;? Ndidi said on his Twitter handle.

Despite hanging on to the Top Four for much of the season disrupted by the Covid-19 pandemic, Leicester capitulated on the seasonâ&#x20AC;&#x2122;s last to Ole Gunnar Solskjaerâ&#x20AC;&#x2122;s Manchester United 2-0 to miss the money spinning Europeâ&#x20AC;&#x2122;s premier club competition. â&#x20AC;&#x153;I want to first of all thank our fans for being with us even when the stadiums were empty due to the pandemic, it was indeed a season to learn from and grow into next season.

said on Tuesday.

Gusau, who is also a Member of the NFF Executive Committee, stated further: â&#x20AC;&#x153;That was an affront on the Government and the NFF will never be part of it. The Anambra State COVID-19 Task Force made it clear that there should be no such gathering.

It is irksome, and let it be said without ambiguity that the NFF does not recognize such a sham and it cannot stand.â&#x20AC;?

However, in what appears to be a total disregard to the directive of the Anambra State Covid-19 Task Force that no election should take place in view of the prevailing pandemic in the country, Chairman of the Anambra FA, Senator Ifeanyi Ubah, was reported by a section of the sporting media to have been returned unopposed for another term in office.

Ubah was reported to have been re-elected by 22 delegates who snubbed the directive by the state government.

In his post election speech, the senator representing Anambra South in the upper legislature promised to revolutionise Anambra State Football by promoting massive grassroots development of the game. â&#x20AC;&#x153;I promise to accelerate the development of football in Anambra State with a view to providing jobs for the teeming

unemployed youths. We all know that football, if properly managed, could be the bedrock of the stateâ&#x20AC;&#x2122;s economy. Going forward, it is going to be football

revolution,â&#x20AC;? the owner of Ifeanyi Ubah FC said.

His assurance to harness talented Anambra youths and use football as source of

employment, has also received a boost as the Grand Patron, Prince Arthur Eze, doled out N10 million donation in support of the new executive.

Georgia Oboh...to play amongst Europeâ&#x20AC;&#x2122;s ďŹ nest golfers in Scotland

Golf: Oboh Earns Invitation for Scottish Open Olawale Ajimotokan in Abuja Wilfred Ndidiâ&#x20AC;Śconsoled by Europa ticket

Thanks for the support,â&#x20AC;? said a thankful Ndidi who most pundits have been tipping to be the perfect pair for Harry McGuiire in Unitedâ&#x20AC;&#x2122;s defensive midfield role.

Premier League champions Liverpool, Manchester City, Manchester United and Chelsea will represent England in Europeâ&#x20AC;&#x2122;s elite club competition next season.

Aside Leicester, Tottenham Hotspur will also be in the Europa League and could be join by Arsenal if they beat Chelsea in the FA Cup final

Nigeriaâ&#x20AC;&#x2122;s Georgia Oboh has secured one of the final two invitations for the Aberdeen Standard Investments Ladies Scottish Open taking place next month between August 13 and 16 at The Renaissance Club in North Berwick, as professional womenâ&#x20AC;&#x2122;s golf returns to Scotland for the first time since the 2019 Solheim Cup last September.

The second slot went to Scotlandâ&#x20AC;&#x2122;s highest ranked player on the Rolex Rankings, Gemma Dryburgh.

Oboh is the first Nigerian golfer to win her card on the Ladies European Tour (LET).

She berthed the tournament as an invitee of the tournament sponsor, Aberdeen Standard Investments for the accolades

she has received in her short professional career and to provide inspiration and opportunities for the next generation of talented women to participate in events of this stature. â&#x20AC;&#x153;I am really grateful to receive this invitation into such an important event on the LET and LPGA Tours. I have been working very hard to be ready to play amongst so many of the worldâ&#x20AC;&#x2122;s best players and I think it will give me invaluable experience as I work towards achieving my dream of being the first Nigerian to win on the professional golf circuit,â&#x20AC;?

Oboh said.

Jill Maxwell, Head of Brand Activation at Aberdeen Standard Investments, expressed delight to welcome both Gemma and Georgia into the Ladies Scottish

Open field.

She also noted that inviting Georgia as one of the highest ranked African golfers, implied that the sponsorship of the Ladies Scottish Open will offer opportunity for the development of talented players and that golf, as a sport, is increasingly accessible to everyone. â&#x20AC;&#x2DC;â&#x20AC;&#x2122; Both Gemma and Georgia are great female role models, paving the way for other girls from all backgrounds to achieve their dreams too,â&#x20AC;? Maxwell said.

The field for the 2020 event is even stronger than last year with three of the worldâ&#x20AC;&#x2122;s top ten ranked players on the Rolex Womenâ&#x20AC;&#x2122;s World Golf Rankings in the field â&#x20AC;&#x201C; Japanâ&#x20AC;&#x2122;s Nasa Hataoka,(No.4) Americaâ&#x20AC;&#x2122;s Danielle Kang (No.5) and Australiaâ&#x20AC;&#x2122;s Minjee Lee. (No.8)

There are 22 players ranked within the Worldâ&#x20AC;&#x2122;s Top 50, seven of the top 10 players currently leading the LPGA Race to CME and all of the top 20 on the final 2019 LET Order of Merit.

The other two tournament invitations were awarded last week to Japanâ&#x20AC;&#x2122;s Hinako Shibuno, the AIG Womenâ&#x20AC;&#x2122;s Openâ&#x20AC;&#x2122;s defending Champion and Scotlandâ&#x20AC;&#x2122;s Catriona Matthew, a two-time winner of the Aberdeen Standard Investments Ladies Scottish Open in 2011 and 2013 and a Womenâ&#x20AC;&#x2122;s British Open winner in 2009.

This yearâ&#x20AC;&#x2122;s tournament is going ahead as a made for TV event following close consultation and collaboration with the Scottish Government, Aberdeen Standard Investments, VisitScotland, the LPGA and

Dare Assures Stakeholders Sports Industry Policy will Accelerate Investments in the Sector A new dawn beckons for the Nigerian sports with the presentation of the new Sports Industry Policy to the Minister of Youth and Sports Development, Mr. Sunday Dare.

Speaking while receiving the draft of the National Sports Industry Policy, Mr Dare said the policy would accelerate sports development and add value to the talents of our sports men and women.

The minister described it as a milestone, with the capacity to change the face of the running of sports business in Nigeria.

While congratulating members of the steering committee of the Sports Industry Working Group (SIWG), the minister praised the policy validation committee and the National Sport Industry Policy Drafting Committee, the relevant MDAs, and ministries for their commitment in bringing the draft into reality. â&#x20AC;&#x153;On behalf of the Federal

Ministry of Youth and Sports Development, I congratulate all members of the committee for this giant stride, your commitment, dedication and doggedness to bring this draft sports policy to reality. Your efforts are highly appreciated.

Dare further described the policy as a new dawn that will drive the process of moving sports away from being recreational to business. â&#x20AC;&#x153;I recall the opportunity I had during the 25th Nigerian Economic Summit, to chair its Sports Industry Business Roundtable Session. The session featured various speakers from all sectors emphasizing the challenges in developing sports as a viable business sector capable of attracting investments and delivering returns to investors. This gave birth to setting up various groups to review our 2009 Sports Policy which no doubt is now obsolete. â&#x20AC;&#x153;However, this draft of the

National Sports Industry Policy is a review of the 2009 and 2018 editions and the exercise is principally intended to update the norms and values in the sports industry in achieving the mandate, vision and mission of the Federal Ministry of Youth and Sports Development in line with international best practices.

Most importantly is to inject a business model into our sports development. â&#x20AC;&#x153;It is important to note that this reviewed National Sports Industry Policy will proffer solutions to four key issues: 3 I (s) and I(p) that will take sports to the next level â&#x20AC;&#x201C; Infrastructure, Investment, Incentives and policy.â&#x20AC;?

The Minister also commended the Permanent Secretary, Mr Gabriel Aduda, the Cochairman, Mr Ufot Udeme and other members of the committee for their valuable contributions towards the drafting of the new National

Sport Industry Policy The National Sports Industry Policy will be unveiled to the

general public and the National Council of Sports for comments and feedbacks before it would

be officially presented to the Federal Executive Council (FEC) for final approval.

Permanent Secretary, Federal Ministry of Youth and Sports Development, Mr. Gabriel Aduda (left) presenting the Draft of the New Sports Industry Policy to Youth and Sports Minister, Mr. Sunday Dare, at the Ministerâ&#x20AC;&#x2122;s OďŹ&#x192;ce in Abujaâ&#x20AC;Ś yesterday

WEDNESDAY JULY 29 2020 â&#x20AC;¢ T H I S D AY

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Wednesday July 29, 2020

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Southern Kaduna Elders to FG “All in all, the heartless destruction of lives and property in Chikun, Kajuru Zangon Kataf, Kauru, Kaura, Sanga and Jema’a LGAs, despite the curfew, is a serious embarrassment which should worry the power that be” – Southern leaders led by Zamani Lekwat, a former military governor of Rivers State, breaking their silence over the killings in the area.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Insecurity and Identity Politics In the midst of …clear and present dangers nationwide, Nigerians whilst ignoring their common perils, continued to produce and reproduce more and more nominal stakeholders than dedicated caretakers of their sorely distressed fatherland or motherland.

– Tekena Tamuno

T

he administration of President Muhammadu Buhari faces two mutually reinforcing problems among others. These two issues, to which the government should pay a greater attention, are worsening insecurity and serious obstacles to national integration.

These are really not fresh developments as such for the administration, you may say. But the dimensions of the crises of the Nigerian state have taken in recent times should compel an urgent rethink of things.

This is necessary if the administration is to avoid being defined ultimately by these problems.

All that Buhari and his advisers need to do is learn simple lessons of history.

In the last 60 years of independent Nigeria, successive administrations have been irretrievably defined by certain developments. The president should, therefore, studiously prevent his era being defined by insecurity and polarisation of the nation.

It is not too late for the President to reboot the dynamic of his administration.

Buhari should be conscious of his place in history.

The urgency of the matter is perhaps demonstrated by the statements from the crucial apparatuses of the Nigerian state in the last 48 hours.

Buhari On Monday, the State Security Services (SSS) warned groups and personalities against destabilisation of the country by pitching nationalities and groups against one another.

According to the SSS, the state would not permit “planners of mayhem” from carrying out their plans. The agency restated its “commitment” to the internal security of the nation while asking those with useful information on those allegedly instigating violence to make them available to the state.

It was essentially a reassurance to the to the public that the state is firmly in charge.

Barely 24 hours later, the defence headquarters reminded members of the public and the armed forces that “all officers and men of the Nigerian Military swore to an oath of allegiance to be

totally loyal to the civil authority of the Federal Republic of Nigeria and protect the constitution.”

According to the military authorities, the implication of the oath is “unalloyed loyalty to the President Commander in Chief and full subordination to the civil authorities of the Federal Republic of Nigeria.”

In fact, the defence headquarters were referring to a newspaper report with the following caption: Nigeria Needs a Rawlings Now – NDP’.

The National Chairman of National Democratic Party (NDP), Chidi Chukwuanyi, reportedly said: “the state of corruption in the country calls for the replication of the Ghanian experience under former President Jerry Rawlings in Nigeria’.

Now the Rawlings metaphor should be situated in its proper historical context. In 1979, a lanky Flight Lieutenant Jerry John Rawlings appeared on the political firmament of Ghana after the botched coup of May 15 that year. Rawlings and his collaborators were arrested and sentenced to death. They were to be executed by firing squads. During the trial Rawlings made a speech against injustice and corruption which galvanised public support for the cause of the rebels. Five weeks later, he escaped from custody to lead the June 4 coup. As part of his “house cleaning exercise,” three former heads of state (Lt. Gen. Akwasi Afrifa, General Ignatius Acheampong and Lt. Gen. Fredrick Akuffo) and eight other officers were executed by the Rawlings Armed Forces Revolutionary Council (AFRC). Other killings followed as Ghana came under military rule.

Rawlings later contested and won democratic elections in 1992 and 1996. So, he was actually an elected president of Ghana between 1993 and 2001. But this was not the Rawlings referred to in the NDP statement. It was the 1979 Rawlings

that employed violence to assume power and stabilise himself in power. That was the Rawlings of the age of military violence and dictatorship in Africa.

In the reckoning of many political forces, that was a bygone epoch. A resurgence of such bloody political culture would certainly not be welcome today by democratic forces.

Nigeria aspires to build a liberal democracy.

The NDP statement should, therefore, be roundly condemned as all it could achieve in the Nigerian context today is anarchy. It is simply not permissible in a liberal democratic setting. Its language is not that of democracy.

The approach is an utter negation of the liberal democratic principles on the basis of which the party was registered in the first place.

Political parties, civil society organisations and individuals have constitutional rights to mount pressures on government and push for a change from a wrong direction. The NDP and other parties have the rights to begin to strengthen their organisational capacity, win more members, design saleable programmes for the people and work towards defeating the party in power in the next election. All that should be done within the ambit of the same constitution from which the rights are derived.

Maybe, the defence and security agencies should not overact to such inappropriate statements from marginal political elements.

As the security agencies perform their duties, the focus should be more on the basis of the rising pressures in the society. The fact is that Rawlings and his collaborators did not issue any statement before they took the political stage in Ghana.

Continued on page 44

ADAMSOSHIOMHOLE GUEST COLUMNIST

Ismaila Isa Funtua: Teller of Truth to Power

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othing sounded strange. There was no foreboding in Auchi’s night skyline last Saturday when his commanding voice came on the line.

“Adams, where are you?,” asked Mallam Isa Funtua.

“In Edo,” I replied, thankful to God for journey mercies to have safely arrived the land of my birth from Abuja enroute Benin City. “In fact, I’m just approaching my countryhome in Iyamho now. Good evening sir, my Oga.” “Good. Now, Adams!, Adams!! Adams!!

How many times did I call you?”

“Three times sir.”

“Good,” he continued “I called just to be sure you’re already on ground in Edo. Please, please, make sure you remain there and make sure APC wins back Edo before you return to Abuja. We believe in your ability.”

“By God’s grace sir and the continued support of the people of Edo, we shall recover the

state for APC.” Given that assurance of support and the expression of solidarity, nothing could, therefore, have prepared me for the breaking bombshell news 48 hours later (Monday night): Mallam Isa Funtua is dead!

What?!

But his voice sounded so clear and firm, his spirit so inspiring in our phone conversation last Saturday night. Little did I know that would be our parting words.

Fleeting as the foregoing exchange might sound, it is quite illustrative of the special relationship I had with Mallam Funtua for close to five decades - first through the labour movement and later the public service.

All through my sojourn as chairman of workers union in Kaduna, leader of the national textile union, two-term president of Nigerian Labour Congress, two-term governor of Edo State and later National Chairman of All Progressives Congress (APC), he was a pillar of support,

sincere counsellor, cheer-leader in good times and consoler in bad times. An instinctive peace-maker.

Compulsive bridge-builder. A study in loyalty and solidarity. Just as he never spared you when he felt you had fallen short of his own standards which were understandably high.

I always addressed him as “My Oga” and he treated me more as a younger brother, offering an affectionate shield of a true comrade.

Even though he was unarguably one of President Muhammadu Buhari’s confidants, Mallam Funtua kept and maintained deep relationships with friends in other political parties outside APC. So, the durable bridges he thus built across ethno-religious and political boundaries over the years and his uncanny ability to network over party lines meant those of us who had access to him could sit at his feet to sip from a deep fountain of wisdom. Or perch on his broad shoulders to gain extraordinary insights into national issues.

Nothing perhaps vividly demonstrates his liberal spirit - this tolerance of opposing views - than the freedom he gave The Democrat (of which he was Chairman) to pen scathing editorials against institutions or businesses he had interest while the publication lasted. His passion for the media was outstanding. Little wonder he was decorated as Life Patron of the Newspaper Proprietors Association of Nigeria (NPAN).

Someone described him as fearless and assertive by instinct. No epithet could be truer. Of folks I have encountered, only few would compare to Mallam Funtua in clarity, consistency and brutality to tell the truth always as he saw it, regardless of whose ox was gored. He never suffered fools gladly.

Part of his uniqueness was that his ability to throw hard truth punches was proportionate to his capacity to receive and absorb same.

Continued on page 44

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