MONDAY 11TH JULY 2022 by THISDAY Newspapers Ltd

IOCs Killing Local Oil Servicing Companies in Nigeria, Says Wabote Wants 40% costs reduction deal with NNPC, oil majors renegotiated Emmanuel Addeh in Abuja The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote has taken a swipe at international oil companies (IOCs)

operating in the country, urging them to stop the maltreatment of indigenous firms in the sector. Speaking at the just-concluded Nigeria Oil and Gas (NOG) in Abuja, Wabote stated that as the IOCs complain about the inclement

business environment, they must also take cognisance of their negative attitude towards local oil servicing companies. Specifically, the NCDMB helmsman told the oil majors to promptly pay for contracts with

the local entities and stop giving excuses even when they (IOCs) initiated the deals. In some cases, Wabote lamented that the local firms were required to form consortiums, sign performance bonds after borrowing from the

banks, noting that if the IOCs should come into equity, then they must come with clean hands. Reacting to one of the remarks by one of the IOCs that Nigerian firms in the oil industry should form groups to present a stronger front,

Wabote noted that beyond that, the oil majors must begin to treat local firms with dignity, explaining that forming consortiums was not a magic wand. Continued on page 50

Twitter Assembles Legal Team to Sue Musk over Dropped $44bn Takeover…

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Rewane: 2023 May Be Nigeria’s Costliest Elections Ever in History Estimates N6trn to be spent to win presidential election Says moneybags ready to pay whatever price to secure victory Dike Onwuamaeze A member of President Muhammadu Buhari’s Economic

Advisory Council and Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane, has

said the 2023 elections would be the costliest in the country’s history, with the marginal cost of winning the presidential poll estimated at

N6. 094 trillion. Rewane addressed some of the 2023 election challenges in the July edition of the Lagos Business

School’s breakfast presentation to THISDAY at the weekend. titled: “Analysts Bemused, Markets He projected that 34.65 million Confused and Speculators Amused,” Continued on page 5 a copy of which was made available

Tinubu Rewards Loyalty over Competence, Electoral Value, Religious Balance Says ‘spirit of 1993 is upon us in 2023’ Briefs Buhari in Daura, Masari stands down Governors angry over decision, meet president in home state today Senator pulls out of support, campaign groups, APC member quits Inside details of how party candidate fought for choice partner Stakeholders turn down Oshiomhole as likely campaign DG CAN: It’s left for voters to decide; it’s a perfect choice, says Keyamo Atiku cautions against politics of exclusion Deji Elumoye, Chuks Okocha, Onyebuchi Ezigbo, Adedayo Akinwale, Alex Enumah in Abuja, Ugo Aliogo in Lagos, Francis Sardauna in Katsina and Michael Olugbode in Maiduguri In a move that could undo his aspiration and hurt the future of his party, presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, yesterday, announced a former governor of Borno State and Senator representing Borno Central, Kashim Shettima, as his running mate, effectively rewarding loyalty over competence, electoral value and religious balance. Tinubu, who had deliberately stalled the pick of a presidential running mate, on account of the need for more time to further consult, has by this decision, called the bluff of the Christian community, which had been pushing for a representation Continued on page 5

TRADITION AT ITS BEST... Kwara State Governor AbdulRahman AbdulRazaq (right) on horseback with his elder brother and Mutawalli of Ilorin Dr. Alimi AbdulRazaq (left), riding in the long convoy of His Royal Highness Emir of Ilorin Dr. Ibrahim Sulu-Gambari (covered in yellow behind) at the 2022 Durbar celebrations in Ilorin, Kwara State…yesterday

MONDAY JULY 11, 2022 • T H I S D AY

T H I S D AY • MONDAY, JULY 11, 2022

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Twitter Assembles Legal Team to Sue Musk over Dropped $44bn Takeover Twitter Inc. has hired merger law heavyweight Wachtell, Lipton, Rosen & Katz LLP as it races to sue Elon Musk for moving to dump his $44 billion takeover of the company, according to people familiar with the matter. The social media company aims to file suit early this week, according to the people, who declined to be identified because the matter is private. According to Bloomberg, by hiring Wachtell, it gains access to lawyers including Bill Savitt and Leo Strine, who served as Chancellor of the Delaware Chancery Court, where

the case will be heard. Musk has brought in Quinn Emanuel Urquhart & Sullivan LLP. The firm led his successful defense against a defamation claim in 2019 and is representing him as part of an ongoing shareholder lawsuit over his failed attempt to take Tesla Inc. private in 2018. An official for Wachtell Lipton declined to comment, and officials for Quinn Emanuel couldn’t be reached. A Twitter spokesperson declined to comment. Musk and Jared Birchall, the head of his family office, did not respond to a request for comment. Delaware is the corporate home

to more than half of US public companies, including Twitter, and more than 60 per cent of Fortune 500 firms. There, chancery judges -- business law experts -- hear cases without juries and can’t award punitive damages. Based on previous merger fights, efforts to terminate a deal can play out within a few months, often ending with settlements to avoid further wrangling. Savitt, a Wachtell partner, is at the top of select group of A-list chancery court litigators. Companies such as health-insurer Anthem Inc., real-estate giant Sotheby’s and financial titan

KKR & Co. have lined up outside his door when deals turn sour or buyouts get challenged in Delaware. Strine, who spent over 20 years working in the Delaware courts, most recently as Chief Justice of that state’s Supreme Court, helped shape the legal norms that Musk would seek to test by terminating his agreement to acquire Twitter. Strine joined Wachtell in 2020. Before becoming the Chief Justice, he served on the Delaware Court of Chancery as Chancellor from 2011, and as a Vice Chancellor from 1998. Delaware Chancery Court typically frowns on efforts to back out of

merger agreements. It’s possible that one of Strine’s most influential decisions will determine how Musk makes his case for ditching his Twitter takeover. In 2000, Tyson Foods Inc. agreed to acquire rival IPB Corp. Soon after agreeing to the deal, the meat market suffered a precipitous downturn, impacting both companies financially. Tyson argued it had been given misleading information about IBP’s business and was thus no longer obliged to complete the $3.2 billion merger. In court, Strine disagreed that there had been a Material Adverse

Change and ruled that Tyson must follow through with the deal. The ruling became a landmark and the Tyson-IBP case is still the basis for the way courts and corporations interpret the ability of a buyer to terminate a merger agreement. The judges also have a say over whether breakup fees must be paid. In the Musk-Twitter deal, that fee is $1 billion. In a regulatory filing after the official market closed Friday, Musk had announced plans to walk away from his $54.20-a-share offer to buy Twitter, alleging that the company misrepresented user data.

team possible, a team put together with but one overriding purpose: to forever establish just, capable, and compassionate governance for the people of Nigeria without regard to religion, region, or ethnic origin. “In full compliance with existing law and regulation, I submitted all necessary documents regarding my nomination as the APC presidential candidate to INEC. But, as was expected, the choice of my Vice Presidential running mate remained an open and burning question. This gave rise to much speculation and debate. “Recent events (the voluntary withdrawal of my dear friend and brother Ibrahim Masari)mean that I am called upon, today, to put an end to the speculation. I have never been an indecisive man and have no present intention to become one. “What I am, however, is a democrat. And a democrat must listen to, and consult with, the people and his advisors so that he may reform and govern wisely and on their behalf. This I have done. My political career was not built on blind indifference to the views of others. “I appreciate the perspectives of leading members of the party, political allies and key national figures who see Nigeria’s future as I do. They gave me their views so that I might add their valuable insights to mine to reach the best decision possible and do so in a manner that strengthens the institutional fabric of our party as well as accelerating the evolution of our political democracy. “Having now listened to the sage, careful advice of a broad section of the party and of the nation, there are a few points I feel I must make about the exceptional and extraordinary person with whom I will share the APC ticket and the principles of open and good governance that informed this choice. “I realize the momentous times we have entered. I know what lies in the balance. I also know that our political choices and activities send both intended and unintended signals to portions of the Nigerian electorate. “All my life, my decisions regarding the team around and supporting me have always been guided by the principles of competence, innovation, compassion, integrity, fairness, and adherence to excellence. “Our focus, therefore, must be on getting the job done; and that means getting the very best and competent people to do it. In this crucial moment, where so much is at stake, we must prioritize leadership, competence, and the ability to work as a team over other considerations. “I am mindful of the energetic discourse concerning the possible religion of my running mate. Just and noble people have talked to me about this. Some have counselled that I should select a Christian to please the Christian community. Other have said I should pick a Muslim to appeal to the Muslim community. Clearly, I cannot do both. “Both sides of the debate have impressive reason and passionate arguments supporting their position. Both arguments are right in their own way. But neither is right in the way that Nigeria needs at the moment. As president, I hope to govern this nation toward uncommon progress. This will require innovation. It will require steps never before taken. It will also require decisions that are politically difficult and rare.

“If I am to be that type of President, I must begin by being that type of candidate. Let me make the bold and innovative decision not to win political points but to move the nation and our party’s campaign closer to the greatness that we were meant to achieve. Here is where politics ends, and true leadership must begin. “Today, I announce my selection with pride, because I have made it not based on religion or to please one community or the other. I made this choice because I believe this is the man who can help me bring the best governance to all Nigerians, period, regardless of their religious affiliation or considerations of ethnicity or region. “This is why, today, I announce the selection of Senator Kashim Shettima as my partner and running mate in the mission to advance and reclaim the fortunes of this great country and the hopes of its people. “Senator Kasim Shettima’s career in politics and beyond shows that he is eminently qualified not only to deliver that all important electoral victory, but, also, step into the shoes of the vice president. As a man with the talent, maturity, strength of character, and patriotism he has my implicit confidence and faith. “I am aware that many will continue focus on a particular detail, the question of his faith. However, if we truly understand the challenges upon us a nation, then we must also see the imperative of placing competence in governance above religious sentiment. “In 1993, Nigerians embrace Chief MKO Abiola and a fellow Muslim running mate, Baba Gana Kingibe in one of our fairest elections ever held. The spirit of 1993 is upon us again in 2023. “As such, the ticket we present today represents a milestone in our political history. It symbolizes our party’s determination to be a leading light among political parties in Africa. The democratic process and the decorum that characterised our presidential primaries and the selection of our vice presidential candidate exemplifies why we are the party of the people and of the betterment of their future. “With this selection, the All Progressives Congress surely shall continue to be the party that shows the way and carries this nation towards its best future. I implore you all to join with me on this journey to a brighter future.” But the Christian Association of Nigeria (CAN), has said it was left for the Nigerian electorate to decide on the Muslim-Muslim presidential ticket. In it's reaction to the announcement by Tinubu that he had settled for a Muslim running mate, the Media Assistant to the CSN president, Adebayo Ayodeji, said: "It is clear that the situation in the country now is not conducive for a Muslim-Muslim ticket. "It is up to Nigerians to accept or reject. Today's Nigeria is not the same when Nigerians voted Abiola-Kingibe ticket, which was eventually annulled. Our prayers are with Nigeria and Nigerians." Yet, in his reaction, the Minister of State for Labour and Employment, Festus Keyamo, SAN, who said, “HE Sen. Kashim Shettima is the perfect choice as VP”, described

TINUBU REWARDS LOYALTY OVER COMPETENCE, ELECTORAL VALUE, RELIGIOUS BALANCE on the APC ticket and boxed his party into an unsavoury position in the political calculus of 2023. Unfortunately, he has also by this deliberate decision, thrown the party into unintended crisis as some of the APC governors and other members as well as stakeholders of the party, have started to react to the development, with a majority of them describing his move as a miscalculation. The choice of Shettima has since yesterday come under serious attack immediately it was announced. This is because, aside being governor for eight years, a period that could hardly birth any outstanding development strides, nothing seemed to have qualified Shettima more than the others that were bypassed for him, especially, the governors from the North West. Therefore, if it was about competence and capacity for the job, there was no way Shettima could have defeated other preferable choices from areas with better electoral value. Put in context, his electoral value, as at the 2019 elections, the voting strength of North West alone was over 20 million, representing some 24% of the national spread, while the North East boasted a little over 11 million votes, which represented 13.44%. Yet, the only vote that Shettima is known and able to bring to the table is the Kanuri vote, which, sadly, is less than 5%, unlike the other states in the North West and some parts of the North East, which boast the same ethnic stock as Hausa/Fulani and naturally vote along that stretch. Instructively, if the votes from

Bauchi and Adamawa States, were added to those of North West, since they are of the same ethnic stock – Hausa/Fulani – and who are wont to vote the same way, the total voting strength of the North West, would go up by some reasonable percentages, and depleting whatever the extrapolations for North East. In fact, the only reason Borno did well in the 2019 election was, because of the factor of the former Chief of Army Staff, Yusuf Tukur Buratai, who was determined for President Muhammadu Buhari to return and had help to set up IDP camps for people of the state to enable them vote, else, the voting pattern in Borno was not enough to earn Shettima the number two slot. Talking about religious balance, which has also become an even more sensitive issue, given the rise in terrorism and other forms of insecurity, believed to have assumed religious slant, the choice of Shettima has been considered even more insensitive to the current realities in the country as much as the existential fault lines. But, Tinubu, who was in Daura, Katsina State, yesterday, to spend time with President Buhari, during the Eid-el-Kabir celebration, also seized the opportunity of the visit to talk about his partner, stating that, the spirit of the 1993 presidential election, which presented the nation with a rare Muslim-Muslim combination, had come upon the nation in the 2023 polls. Although inside sources claimed that, Tinubu, had long submitted a list of possible running mates to

REWANE: 2023 ELECTION TO BE COSTLIEST EVER IN NIGERIA’S HISTORY voters would be vulnerable to sell their votes, which politicians would be eager to purchase at N1.1 trillion, adding that the eventual winner of the presidential election would recoup his electoral expenditures within two years at a juicy fair return on investment of N1.741trillion. This return on investment, according to him, would represent 40 per cent of two-year capital expenditure (CAPEX) of country’s annual budget of N18 trillion. According to him, “2023 election (is) to be the costliest election in the history of Nigeria. Moneybags are ready to pay whatever price to win it. But it could be a case of ‘damned if I win, damned if I don’t,” adding: “the marginal cost of winning presidential election for a single tenure (is) N6.094 trillion,” in 2023. He also gave the breakdown of the estimated cost of achieving electoral victory in 2023, including the cost of emerging as presidential candidates from various political parties’ presidential primaries that were concluded last month. His words: “Cost of winning party primaries, which included cost of compensating rivals that lost is estimated at N1.178 trillion; Cost of campaign and ground game = N950 billion; Vote buying costs, including logistics for vote buying = N1.1 trillion; cost of electoral victory = N3.288 trillion; cost of litigation N20,000 (sic); cost of funding at 17per cent = N1.104 trillion and fair return on investment of 40 per cent = N1.741 trillion.” Rewane, which tagged the 2023 general election as “weaponising poverty,” arrived at the costs

estimated above based on the following assumptions: total registered voters in 2019, estimated at 84 million; voters turn out in 2019 – 34.75 per cent; expected registered voters for 2023 election (2019 numbers plus 25 per cent) – 105 million; voter turnout in 2015 - 44 per cent; expected voter turnout in 2023 - 57.75 million voters.” He further assumed that 34.65 million voters, representing 60 per cent of eligible voters, would be vulnerable to sell their votes to politicians, projecting that the, “number of years to be used to recover electoral expenses will be two years,” at 17 per cent cost of capital, adding that there was, “high correlation between poverty and vote buying.” The economist stated that the 2023 election could be a referendum on the performance of Buhari’s administration and on the past administration or none of the above, but stressed that, “no matter who wins, reforms are inevitable.” Rewane projected that massive youth voters’ registration would tilt in favour of the newer parties like the Labour Party and the New Nigeria Peoples Party (NNPP), while, “the voting pattern will reflect anger, frustration, poverty, fear, resentment and characteristics similar to the EndSARS protests. “Traditional voting myths and patterns will be shattered. Our model shows that there will be no winner in the first round. In the second round, a simple majority is required. But elections are 220 days away and as Harold Wilson once said. ‘24 hours is a long time in politics.”

the president for some time now, on which Buhari had refused to act, Tinubu, then, seized the initiative since deadline is Friday, July 15, and formally announced Shettima before the cutoff date. Expectedly, the announcement has begun to create row in the party, as some of the governors, who worked tirelessly to ensure Tinubu clinched the ticket, considered the manner he broke the news ‘arrogant’ and against the understanding he had with them. To this end, the governors, a majority of them from the North West, who did not have issues with the choice of Shettima but how Tinubu ignored all the understanding they shared to announce the name, have scheduled to visit the president in Daura, tomorrow to formally register their displeasure, before taking further steps. But that appears to be the start of a new crisis for Tinubu as some members of the party have started to react to the development. While Senator Ishaku Abbo from Adamawa State, has allegedly resigned from all Tinubu’s campaign groups, another member of the party and legal practitioner, Bwala Daniel, has resigned from the party, because Tinubu’s choice was insensitive to the unity of the country. This, nonetheless, other party stakeholders, including the governors, were said to have got into another battle of sort with Tinubu over his suggestion that he would not mind making a former national chairman of the party, Adams Oshiomhole, the director-general of his presidential campaign, as they all objected to the idea. In a related development, presidential candidate of the Peoples Democratic Party (PDP) for the 2023 general election, Alhaji Atiku Abubakar, has cautioned against exclusionist politics in the coming dispensation, saying he considered politics as a corrective mechanism. At the same time, the Presiding Bishop, Christian Global Network, (CGN), Taiwo Akinola, has stated that the same-faith ticket embraced by the APC and its candidate, Tinubu, would further entrench national division, because the church was deeply concerned about the potential consequences of such an arrangement, “thus, we hereby speak up against it before it becomes too late.” The APC presidential candidate had earlier sent the name of a former Welfare Secretary of the party, Ibrahim Kabir Masari, as his place holder for running mate, just to beat the deadline set by the Independent National Electoral Commission (INEC). But, Tinubu, yesterday, unveiled finally Shettima, after Masari had announced his standing down as the temporary running mate, in a statement. Tinubu, who first spoke with journalists after meeting with the president, said he had spoken with Masari, whose name was submitted as a 'placeholder' to enable him and the APC meet the June 17 deadline set by the INEC for political parties to submit the names of their candidates and running mates. Noting that he was in Daura to pay Sallah homage to the President, Tinubu added he was there: "To equally, discuss the question of my running mate, substantive. One of them withdraw today, I mean, the only one as a placement, withdraw

today and there had been already an announcement to replace him fully with substantive. I have already spoken with him (Masari) today to be replaced by a substantive running mate." Asked who the substantive candidate is, the two-time former governor of Lagos State responded unequivocally: "Kashim Shettima," adding: "I have not discussed with him, I have disclosed it to you since I've disclosed it to the President," adding that the choice was based on the competence of the candidate. While stressing that the APC would win the 2023 election, he said he selected Shettima,"because he is competent, capable, reliable and able." When asked if APC was in the right condition to win the election, the standard standard bearer said, "We are gonna win. Insha Allah. We're gonna win." Prodded further on why so much confidence, Tinubu replied: "Because we are a progressive party. We are the focus on Nigerians' problem and we face the challenge squarely. We are not running from it. We have a better programme for the people and about the people and ready to serve. Within a short period of time, there will be a good foundation on infrastructure." On the challenges of terrorism facing the country, he admitted the problem but added that to solve it, you have to be a good thinker and observer. "We face challenges of terrorism. We know that. It's only a poor thinker and observer that will not recognise the challenge. But once you recognise the challenge, you can prepare yourself very well to tackle it and defeat it. And that is what our party is all about." Soon after dropping the hint, Tinubu issued a detailed statement on his new partner and why he settled for him.

Why I Chose Shettima, Explains APC Presidential Candidate

“Fellow Nigerians, we enter a moment of renewed hope. We hold the chance to move the nation and our collective cause forward as never before. Let us seize this moment so that history may write kindly of us. It is time to focus with utmost devotion and love of country to do all we can do to advance the ideals of democratic and progressive good governance in the land. “We must end poverty and bring greater prosperity and more lasting peace. Let us be wise of thought yet courageous in action, as we embark on a collective enterprise that brings jobs, education, food, medicine, hope and belief in a better life to those who need them. “I stand ready to begin this journey with you, hopefully, to lead the nation on this needed path as your next President by the grace of God. I believe this is a pivotal moment at which the dynamics of history and destiny call us forth to reshape our beloved nation. This is our moment. “We all must answer the nation’s call. For some, this requires of us that we step forward, assuming new roles and responsibilities. For others, it may mean something else. For all of us, it requires that we dedicate ourselves to the collective national task as never before. “To re-envision and reshape the nation, I must compose the best

Continued on page 52

T H I S D AY • MONDAY, JULY 11, 2022

NEWS

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

TINUBU PAYS SALLAH VISIT TO BUHARI... L-R: President Muhammadu Buhari; APC Presidential Candidate, Bola Ahmed Tinubu, and Katsina State Governor, Aminu Masari, during a Sallah Homage in Daura, Katsina State … yesterday

MSF Seeks FG, UN Intervention over Rising Malnutrition in Crisis-ridden North-West Says thousands of lives at risk, over 50,000 already treated Buhari’s home state most impacted Emmanuel Addeh in Abuja Médecins Sans Frontières (MSF) translated to mean 'Doctors without Borders,' an international medical humanitarian organisation has raised the alarm over the rocketing number of malnourished children in Nigeria’s north-west. In a statement at the weekend, the body which provides medical assistance to people affected by conflict, epidemics and disasters, called on the Nigerian authorities

and the United Nations (UN) to intervene before the situation becomes uncontainable. “MSF teams in northwest Nigeria are witnessing and treating a growing malnutrition crisis, with thousands of kids’ lives at stake. “The crisis remains largely ignored, with the UN and donors overlooking the urgent needs of the north-west. MSF urges UN and international agencies and donors to immediately scale

Audit Query: Senate Threatens N'Delta Amnesty Programme Boss with Arrest Warrant Sunday Aborisade, Abuja The Senate Public Account Committee (SPAC) has threatened to initiate an arrest warrant against officials of the Presidential Amnesty Programme over their failure to account for a total of N10bn allegedly mismanaged by them. The Chairman of SPAC, Senator Matthew Urhoghide took the decision at the last sitting of his panel recently. His action was based on the failure of the Interim Administrator of the PAP, Col. Milland Dixon Dikio (retd.), to honor the invitation sent to him to explain the alleged financial scandal in the agency. The Committee, according to Urhoghide, had invited the PAP interim administrator to appear on the query raised against the agency in the 2018 report of the Auditor General for the Federation. The Interim Administrator was billed to appear on February 3, in a letter dated January 25, but failed to show up. He also ignored another invitation in a letter dated May 19, asking him to appear on June 16. He also shunned the committee's latest letter dated June 28, asking him to appear on July 5. Urhoghide said his panel's secretariat was in possession of the acknowledged copies of the letters showing that they were all received by the PAP boss. Speaking on the persistent failure of the officials of PAP to appear before the Panel, the SPAC Chairman wondered, "why an agency that come to National Assembly to get appropriation should decline to appear before the National Assembly to give Account of the money it spent."

He said the Committee had no other option than to initiate a warrant of arrest on the Accounting officers of the PAP. The Chairman said, "They have consistently refused to appear before the Committee, which is very unfortunate. "We will start the process of issuing a warrant of arrest on the Accounting officer of the PAP." The query read in part stated: "Audit observed that the sum of N 324,969,190.00 was paid to some members of staff vide six payment vouchers for hosting Ex-Agitators, 150 Leaders of Ex-Agitators, and logistics for various training in 2015 financial year. "However, these vouchers and attached supporting documents revealed that the payments were made into a single person’s accounts on behalf of other beneficiaries. This action is in contravention of the aforementioned provisions. "In the same vein, payment vouchers were raised and paid for the sum of N 3,465,713,500.00 in the 2016 financial year as monthly stipends to ex-agitators in various camps. "These payments were made without due recourse to the e-payment policy of the federal government where the amount should have been paid direct to the accounts of the beneficiaries. "This may lead to diversion of public fund for purposes other than intended. "The Special Adviser is required to explain and justify why payments of amounts totalling N3,790,682,690.00 were made into single person’s accounts on behalf of other beneficiaries instead of individual payee accounts.

up their funding and response support to the crisis in north-west Nigeria,” the organisation stated. It added that a growing, yet largely ignored, malnutrition crisis was unfolding in the region in Nigeria, which it said threatens the lives of tens of thousands of children. “Since January, MSF teams, working in partnership with Nigerian health authorities in five northwestern states, have already treated more than 50,000 children with acute malnutrition, including 7,000 who required hospital care. MSF fears that the situation will soon become untenable without increased lifesaving humanitarian support. “We’re getting ready to treat up to 100,000 malnourished children this year in our nutrition programme in Katsina state alone, and we have expanded our response in Kebbi, Sokoto, Zamfara and Kano states,” the Head of MSF Emergency Operations, Michel-Olivier Lacharite said. The organisation stated that the hunger gap had begun, and the peak of malaria transmission which would further deteriorate the health and nutritional status of children was even yet to come. “Despite our calls in recent

months to both humanitarian organisations and authorities to scale up medical activities, we have not seen the mobilisation needed to avert a devastating nutrition crisis,” said Lacharite. “Acknowledging the acute needs of these children is long overdue, and we strongly urge making lifesaving support a priority now,” the MSF official added. In the area of Gummi, Zamfara State, MSF teams said they conducted a screening of more than 36,000 children under five years old in June, following a nutrition alert. “The results were alarming, as more than half the children were found to be malnourished,” it revealed. Of the total screened children, almost a quarter were severely malnourished and in need of urgent medical care, it said, adding that the organisation in cooperation with the authorities, was immediately launching an emergency response in the area. “In Katsina, the teams quickly had to increase their inpatient capacity from 100 to nearly 280 beds in the last few weeks, but the influx of malnourished children was so significant that restricted admission criteria had

to be introduced for some of the treatment centres. “In Kebbi, where MSF runs an inpatient and two outpatient facilities, about 1,500 malnourished children have been treated since March. “In this chronically foodinsecure region, escalating levels of violence have pushed many communities to their limits, including about 500,000 people forced to flee from home,” it added. The international body noted that in recent years, armed groups that are locally referred to as ‘bandits’ have intensified attacks, killings, kidnappings, lootings and sexual violence. It pointed out that many people cannot farm, cattle are stolen, and markets and trade are disrupted amidst soaring staple food prices – which remain above the five-year average in most Nigerian markets – in an already fragile health context. “If the current humanitarian assistance lags far behind in North-west Nigeria, that’s partly because the UN has failed to include the region in its humanitarian response plan for the country for the current year, which primarily focuses on the critical situation in the

north-east. “As a result, many organisations are struggling to follow up on assessments and secure funding to implement lifesaving support in north-west Nigeria, despite the known acute needs,” it noted. Also, MSF Head Of Mission in Nigeria, Froukje Pelsma, said the plight of malnourished children in North-west Nigeria “cannot continue to be neglected,” calling on international donors and agencies, including the World Food Programme to increase their support to health facilities to provide communities with access to treatment. However, the organisation pointed out that this must be done in collaboration with the Nigerian authorities who must contribute as well. While fighting against malnutrition in Zamfara since 2015, MSF said it had provided additional capacity in Katsina, Kebbi, Sokoto, Zamfara and Kano states in 2021 and 2022. “Today, MSF is running 25 outpatient and 8 inpatient malnutrition services across the five states, and MSF teams treated close to 31,000 children with severe acute malnutrition in 2021.

N22bn Tramadol: Court Remands Billionaire Afam Ukatu in Ikoyi Prison Issues bench warrant against Pius Enidom Wale Igbintade Justice Peter Lifu of the Federal High Court in Lagos has ordered the transfer of suspected billionaire drug baron, Chief Afam Mallinson Ukatu allegedly involved in the N3 billion tramadol deal from the custody of the National Drug Law Enforcement Agency (NDLEA) to the Nigerian Correctional Services (NCOs). Ukatu alongside one of his co-defendants, Sunday Ifeanyi Ibekwute, are to be remanded in Ikoyi prison on the alleged drug-related offences. The judge remanded the two defendants, following their plea of not guilty to the charges of conspiracy, trafficking in 322 kilograms of Tramadol, unlawful dealing, and possession of the said banned drug made against them by the National Drug Law Enforcement Agency (NDLEA). Both Ukatu and Sunday were

arraigned before the court on Friday by the NDLEA During their arraignment, NDLEA Prosecutor, Mrs. Theresa Asuquo, told the court the offences contravened Sections 14(b); 11, and 11(b) of the National Drug Law Enforcement Agency (NDLEA) Act Cap N30 Laws of the Federal on Nigeria (LFN) 2004. NDLEA in the charge marked FHC/L/159c/2021, alleged that Ukatu, Sunday, and one Pius Enidom, who had jump bail, on May 4, 2021, conspired among themselves, trafficking, unlawful possessing and dealing in 322 kilograms of Tramadol. The two defendants denied the allegations and pleaded not guilty to the charges. Following their plea of not guilty, the counsel, Mr. Emeka Opara while moving their bail application, urged the court to admit them to bail in the most liberal terms.

While citing legal authorities, Opara argued that his clients were presumed innocent of the charges against them until the contrary would be proven. He also told the court that the first defendant, Ukatu Mallinson, is an industrialist who is in partnership with the Nigerian Airforce, and with numerous workers. He added that the second defendant, Sunday, is one of the first defendant’s employees. Opara also assured the court that his clients would not jump bail if granted. However, Asuquo opposed the application on the ground that the defendants were a flight risk. The prosecutor further urged the court to take a critical look at some paragraphs of the agency’s counter affidavit to the defendants’ bail application. Justice Lifu, while adjourning the matter till July 18, for ruling

on the bail applications, ordered that both the billionaire and the other defendant be remanded in NCoS’ custody. The judge also issued a bench warrant against Enidom, who had jumped bail and failed to appear in court despite be issued with a hearing notice. Prior to the arraignment of the defendants, who have been in the NDLEA’s custody since April 16, there were heated arguments between the defence team and the prosecutor, over the failure of the NDLEA to produce the defendants in court as ordered by the presiding judge at the last hearing of the matter. The development made the judge, frown at the NDLEA’s disobedience to his order to produce the defendants. Consequently, Justice Lifu stood down the matter for several hours to enable NDLEA bring the defendants to court, for their plea to be taken.

MONDAY JULY 11, 2022 • T H I S D AY

T H I S D AY • MONDAY, JULY 11, 2022

NEWS

DISCUSSING THE FUTURE OF MONEY... L-R: Head, Investment Banking Africa Regions, RMB, Chidi Iwuchukwu; CEO, Central Securities Clearing System, Haruna Jalo-Waziri; Founder, Flying Doctors Healthcare Investment Group, Dr. Ola Brown; Executive Director, Custodian Investment Plc, Adeniyi Falade, and Co-Founder/CEO of Verod Capital, Danladi Verheijen, during the Association of Issuing Houses (AIHN) awards ceremony panel discussion on ‘The Future of Money: Prospects of Equity Capital Raising in Nigeria,’ held in Lagos…recently

Continued Shutdown of Universities Distasteful, Says MHWUN Onyebuchi Ezigbo in Abuja Medical workers under the auspices of Medical and Health workers Union of Nigeria (MHWUN) has described as disheartening the prolonged closure of public owned universities in the country. It said no responsible government would close down

its public tertiary institutions in this 21st century because of patriotic demands for a better funding of its universities and good welfare for its teaching and non-teaching staff. "This is shameful,” the union stressed. In a statement signed by National President of MHWUN, Mr. Biobelemoye

Josiah, the union said it stands in solidarity with the university based unions in the ongoing struggle to emancipate and reposition the public tertiary institutions in Nigeria for progressive development. He noted that the universitybased unions had been on strike for more than five months due to the apparent

Edo to Host over 500 Stakeholders as Film Festival Berths in Benin Don donates 40 books to Edo Polytechnic library

The Edo State Skills Development Agency, EdoJobs in collaboration with the Real Time International Film Festival (RTF) is set to host over 500 stakeholders in the industry for the seventh edition of the Real Time International Film Festival in Benin City. The Managing Director of Edojobs, Ukinebo Dare, said the film festival is a programme by the Edo State government to reposition the state as a choice location for film and television productions. She was quoted in a statement to have revealed that over 500 national and international filmmakers, producers, directors, actors, among other stakeholders in the industry would attend the festival which would be held at the Victor Uwaifo Creative Hub and Sound Stage (VUCHSS), Kada Cinemas, and Edo Film Village simultaneously. She noted that the festival would run for a period of nine days, from August 19th to August 27th, 2022, and would showcase films selected from over 5000 local and international film submissions received this year. She said in the last six years the RTF international film festival has been successfully organised in Lagos, and for the first time, it would be hosted in Edo State courtesy of the partnership between RTF with the Edo State Government. “This partnership seeks to attract the entire film industry to Edo State to expose the

budding talents in the creative sector to the most important stakeholders and veterans in Nollywood and provide them with the opportunity to participate and compete favorably in the Nollywood filmmaking industry,” she said. Dare added, “The festival is an annual event organized to promote independent filmmakers and help them showcase their talents in movies. This year, Edojobs is set to co-host the festival alongside partners like German Cooperation GIZ and Kada Cinemas. “It is being organised as an avenue to promote creative skills development and create job opportunities for the residents of Edo State.” Meanwhile, the Rector of Edo State Polytechnic, Usen, Prof. Abiodun Falodun, has commended Professor of Public Relations and Advertising, Prof. Ezekiel Asemah, for boosting literacy among students at the institution with the donation of forty academic textbooks and journals to the Department of Mass Communication, in the Polytechnic. Asemah is the current Dean, College of Management and Social Sciences, Glorious Vision University, Ogwa, in Edo State. While receiving the textbooks and journals donated by Asemah, a statement quoted the Rector to have said the gesture would encourage research and development in the study of communication. According to Falodun, "The gesture in donating books and

journals by Prof. Asemah is commendable and aligns with the plans of the management of the polytechnic and Governor Godwin Obaseki-led state government in promoting literacy and reading culture among the students and professionals.” The donation, according to Asemah, was aimed to foster reading culture and promote quality education among mass communication students in tertiary institutions.

failure of government to sign the re-negotiated 2009 agreement with ASUU, failure to honour the terms reached at the May 2021 memorandum of understanding (MoU) signed with ASUU, and habitual failure of government to respect collective bargaining agreements willingly signed with Unions. "The leadership of Medical and Health Workers' Union of Nigeria have followed with keen interest the ongoing industrial impasse in the country's public tertiary institutions, which had led to their closure since 14h February, 2022 and the lethargic response of government in addressing the problem. "Also in contention is the refusal of government to adopt the home-grown innovative solutions provided by the unions in the payment of university workers' salaries. "It is equally disheartening to note that since the unfortunate strike started, government actions and response to such a huge national embarrassment had been more of ‘motion without movement’

“If anything, government response has not gone beyond the watery statement of "we are meeting with the unions..." or the usual outdated tactics of blackmailing union leaders as in similar situation. "No responsible government would close down its public tertiary institutions in this 21st century because of patriotic demands for a better funding of its universities and good welfare for its teaching and non-teaching staff," it said. The leadership of the health workers’ union said they were particularly irked that the federal government and the political actors have abandoned the children of the poor masses at home to waste away. "Instead they are seen dissipating energy and resources that could have been used to resolve the issue to fund political tussle to occupy plum offices that previous occupiers have failed to use for the benefit of the masses. "We are more worried with the development because the academic future of the citizenry is being disrupted whereas the

politicians and top government officials have their children mostly in well-funded and equipped oversea schools or in relatively expensive private schools in Nigeria," it said. The union urged the government to implement without further delay all the agreements it had entered with the unions. It also urged the relevant Ministries, Departments and Agencies of government (MDAs) to ensure that President Mohammadu Buhari's earlier directive to resolve all outstanding issues with the unions was backed by immediate acceptable action that would end the stalemate. It condemned the current scarcity of diesel, cooking gas, petrol and aviation fuel and the rising wave of arbitrary prices all over the country. It said there was no better time to end the madness of petrol importation than now. MHWUN further expressed support for the decision of the two Labour centres to work actively to enthone good governance in the next general election.

Community Shuts Down Heritage Energy Operations in Delta Sylvester Idowu in Warri Angry indigenes of Olomoro Community in Isoko South Local Government Area of Delta have shut down operations at the oil mining lease (OML) 30 operated by the Heritage Energy Oil Services Limited (HEOSL). The aggrieved host community indigenes, it was gathered, stormed the premises of the oil firm on Saturday, to peacefully protest an alleged disengagement of eight of their kinsmen working with the company. The protesters who held placards baring inscriptions such as: "Heritage, just reinstate all the indigenous workers," among others said community workers were sacked without any reason and also accused the company of unduly marginalising the host community.

The patron, Olomoro Indigenes Heritage Staff, Mr. Okpogbo Peter told journalists yesterday that the company would not be reopened until the affected staff were reabsorbed. According to him, the disengaged workers were employees of the Shell Petroleum Development Company (SPDC) before it was bought over by the Nigerian Petroleum and Development Company (NPDC) in 2012. He said HEOSL had not employed any Olomoro indigene since it inherited the assets from NPDC in 2017. "Shell requested the workers from the Olomoro Community and transfer their assets and workers to NPDC in 2012. HEOSL bought the facilities in 2017. Since 2017, HEOSL has never employed anybody from Olomoro Community but would rather sack our people

employed by Shell. "We disagree with that. Heritage has not right to sack any of our community workers that were employed by Shell. They are owing Olomoro Community slots, so we are saying the sacked community workers be called back immediately," he said. Peter said the action would be sustained until the workers were reabsorbed. Also, one of the retrenched staff of the company, Mr. Steve Okaro alleged that the Heritage Energy made series of illegal employment over the years which had over-bloated the staff strength. "We learnt that a new company is coming to take over from Heritage but it's like the company is complaining of the staff strength. Now, they want to let some workers go and it is the community workers. Those workers they

employed through the back doors, they did not touch them. "They are owning Olomoro Community more slots and they are dropping our people. We are saying, no way, we cannot take it from them. All the eight sacked workers should be reinstated. "Our President-General, Chief Commander Samuel said we should take it diplomatically with them but they are not shifting ground, hence the protest," he alleged. Fidelis Oghenede, member of the Olomoro indigene Heritage Staff said that the disengagement of their kinsmen by the company was unacceptable. "We the community staff from Olomoro say no. This is unacceptable. Provide more slots for us, employ more people from the community and not pushing them back to the community," he said.

MONDAY JULY 11, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY JULY 11, 2022

Acting Group Politics Editor DEJI ELUMOYE

POLITICS

Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

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

For APC, It’s Tinubu-Shettima Ticket Adedayo Akinwale and Michael Olugbode write on what informed the choice of Senator Kassim Shettima as the running mate to the presidential candidate of the All Progressives Congress, Asiwaju Bola Tinubu

Adamu

fter too much dilly-dally and horse-trading, the presidential candidate of the ruling All Progressives Congress (APC), Asiwaju Bola Tinubu, confirmed the fears of some Nigerians when he announced the former Governor of Borno state, Senator Kashim Shettima as his running-mate ahead of the July 15 deadline set by the Independent National Electoral Commission (INEC) for political parties to substitute their candidates where necessary. Recall that Tinubu had on May 7th defeated 13 other aspirants to clinch the party’s presidential ticket, after scoring 1,271 votes against his closest rival, the former Minister of Transportation, Hon. Rotimi Amaechi who scored 316 votes and Vice President Yemi Osinbajo, with 235 votes. Following his emergence, there have been strong opposition to the Muslim-Muslim ticket that the party was considering in order to boost the its electoral success in the coming elections. Section 29 in subsection (1) of the 2022 Electoral Act says “every political party shall, not later than 180 days before the date appointed for a general election under this Act, submit to the Commission, in the prescribed Forms, the list of the candidates the party proposes to sponsor at the elections, who must have emerged from valid primaries conducted by the political party.” It was against this background that Tinubu and the party leadership settled for a ‘placeholder’ in the person of Kabir Masari to beat the June 17 deadline set by INEC for political parties to submit the names of their presidential candidates and their running mates, while the search for a suitable running mate continues. This, however, has afforded the ruling party the ample opportunity to continue consultation to pick an acceptable running-mate that would complement the strength of Tinubu. But before Tinubu travelled to France, he had hinted that he was still in search of an acceptable running mate ahead of the 2023 elections. How Tinubu arrived at the choice of Shettima Even at that time, it was strongly believed that the presidential hopeful had decided to pick his running mate from the North-east region to whittle down the power and influence of the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar while party leaders from the North-West region are also making a serious push for the position. Ideally, Tinubu ought to have settled for a Christian running-mate, but party sources believed that the APC would lose gallantly in the conservative North if Tinubu were to pick a Christian running mate. The party sources added that North-east, which has the second highest bloc votes in the

Tinubu

country, is predominantly Muslims and would graciously vote for the PDP should APC settle for a Christian running-mate from the north. THISDAY checks revealed that Tinubu settled for Shettima having played a key role in Tinubu’s emergence as the standard bearer of the party. Nevertheless, the politicking, power play and the quest by various tendencies and interest groups in the party to grab the seat delayed the choice of Shettima. At first, the political calculation was for one of the sitting APC governors to replace President Muhammadu Buhari in 2023, but the change in the political dynamics forced the governors to settle for the vice presidential position. The insistence of the governors that they must produce the running mate has been a major cause of delay in naming the running mate for Tinubu. The ruling party presently has 22 governors and 14 are from the Northern part of the country. The northern governors played a pivotal role in ensuring that the presidency was ceded to the South and also foiled the palace coup orchestrated by the National Chairman of the party, Senator Abdulahi Adamu, who almost foisted the President of the Senate, Dr Ahmad Lawal as the party’s candidate on the eve of the presidential primary. North-west push for Vice presidential slot Interestingly, the Governors of APC, ministers and party leaders

Shettima

from the North-West including Kaduna, Kebbi, Zamfara, Kano, Katsina, Jigawa and Sokoto states, recently resolved to engage Tinubu to aggregate the views of the region as the search for a suitable running mate continues. The North-West leaders made their position known in a statement issued and signed by the APC National Vice-Chairman (North-West), Dr. Salihu Lukman after their meeting in Kaduna. The Kaduna meeting had in attendance APC governors, gubernatorial candidates and ministers from the states of the North-West. The leaders said if the contribution of the region to the emergence and growth of APC and its electoral viability, especially with the North-West providing about 39% of the votes the APC recorded in the 2019 and 2015 was anything to go by, there was need to engage Tinubu to aggregate their interest. “The meeting noted the contribution of the North-West to the emergence and growth of the APC and its electoral viability, with the North-West providing about 39% of the votes the APC recorded in the 2019 and 2015 presidential elections. Therefore, the zone resolved to aggregate its interests and vital concerns and engage accordingly with the presidential candidate of the party,” they argued. Notwithstanding the strong opposition to the Muslim-Muslim ticket, the ruling party tested the resolve of Nigerians when Tinubu announced that he has picked Shettima as his running-mate. Although the Christian Association of Nigeria (CAN) warned the APC that such a notion would undermine the Christian community, while other concerned Nigerians also believed that ethno-religious factors are still very much relevant in Nigerian politics and the idea should be jettisoned. Be that as it may, Ganduje confirmed the fears of some Nigerians especially the christian

Shettima, could rightly be said to be the ﬁrst proponent of “Emilokan” (It is my turn to rule which Tinubu came up with when he saw power slipping from him). He had said at the Abuja chapter of the Tinubu Support Groups Management Council (SGMC), that Tinubu deserved the right of ﬁrst refusal for his diligence in birthing the APC and securing the 2015 presidential ticket for President Muhammadu Buhari, and called on the president then to reward the loyalty of the former Lagos governor

community when he hinted at the weekend that Tinubu has agreed to pick a Muslim Vice Presidential candidate. He said: “We have advised him to pick a Muslim deputy and he has agreed. A MuslimMuslim ticket is a reality. It is not something new in Nigeria.” Tinubu’s announcement Tinubu on Sunday confirmed Senator Kashim Shettima as his Vice Presidential candidate. The presidential candidate disclosed his choice to journalists at the Daura residence of President Muhammadu Buhari. Tinubu arrived in Daura Sunday afternoon to pay Sallah homage to President Buhari and intimated him on the choice of Shettima. Shettima: A pearl from the North East Shettima was born on the 2 September, 1966 to the family of Sir Kashim Ibrahim, a Kanuri from Maiduguri, the Borno State. He is married to Nana Shettima, and they have three children: two females and a male. A master’s degree (MSc) holder in Agricultural Economics in 1991 at the University of Ibadan. Shettima joined the University of Maiduguri as a Lecturer with the Department of Agricultural Economics and was in the academia from 1991 to 1993. He was later to join the banking sector in 1993 when he was employed by (now defunct) Commercial Bank of Africa Limited as head of accounts unit at the bank’s office in Ikeja, Lagos State. He left the bank in 1997 to African International Bank Limited as a Deputy Manager and rose to become a Manager in 2001. In 2001, he moved to the Zenith Bank as head of its main branch in Maiduguri. It was from the Zenith Bank that he was picked by Senator Ali Modu Sheriff to become first the Borno State Commissioner for Finance, he later transverse the Ministries of Local Government and Chieftaincy Affairs, Agriculture, Education and Health where he cut his teeth in public administration. He became the gubernatorial candidate of the All Progressives Congress (APC) after the assassination of Modu Fannami Gubio, who was already picked as the flag bearer of the party. Shettima’s election as the party’s flag bearer put pay to his fledging career at the Zenith Bank where he had risen to Senior Manager/Branch Head; Assistant General Manager (AGM)/Zonal Head (North-East), Deputy General Manager/ Zonal Head (North-East) and the General Manager as he had to resign to contest for governorship at the 2011 election. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ MONDAY JULY 11, 2022

MONDAY DISCOURSE

Democracy on Trial in Delta PDP Omon-Julius Onabu writes on the intrigues playing out in Delta State chapter of the Peoples Democratic Party which has culminated in an Abuja Court voiding the choice of Sheriﬀ Oborevwori, as its gubernatorial candidate

Oborevwori

emocracy as a political system is hinged, at least in theory, on majority rule through free and fair elections as well as guarantee of minority rights of the citizens. Multi-party system is often regarded as the hallmark of genuine democracies, though the system has its challenges mainly because parties sometimes engage in fierce contest for control of power. Even at that, struggle for control within a political party is no less fierce; hence the talk about internal democracy mechanism. Currently, democracy is evidently on trial in the Peoples Democratic Party (PDP) in Delta State, the party in power in the state, and indeed has been in power since the restoration of democratic rule in Nigeria in 1999. While other parties struggle with their plans to break PDP’s stranglehold on political power in the state, the party, more often than not, has apparently been unable to evolve a crisis-free and seamless process of selection or election of its candidates for the governorship and other elections. On May 25, 2022, the PDP picked its gubernatorial candidate in the person of Sheriff Oborevwori, who is currently Speaker, Delta State House of Assembly. Although, keen observers believe that the emergence of Oborevwori was actually a culmination of years of scheming and intricate subterranean maneouvre by different power blocs and influential individuals in the party, the successful conclusion of the gubernatorial primary election was regarded as a huge step towards a smooth transition in 2023. It seemed that the party was poised to galvanize its energy and resources towards facing the opposition offered by others like the All Progressives Congress (APC) in 2023. However, that appeared to be the situation until last Thursday’s Abuja High Court judicial pronouncement on the legal implications of the exercise that threw up the state assembly speaker as the PDP standard-bearer. Delivering his ruling on the petition brought before the court by one of the contestants at the primary election held in the main bowl of the Stephen Keshi Stadium in Asaba, Olorogun David Edevbie, the presiding judge, Justice Taiwo O. Taiwo declared that Sheriff Oborevwori was technically unqualified to vie for the govership ticket of the PDP. The court also ruled that Edevbie, as the first runner-up during the gubernatorial primary election, is the authentic candidate of the party. The verdict of the court has definitely upset the applecart for the party. Old wounds have been opened up and it is a no-love-lost situation between the supporters of Edevbie and Oborevwori. Interestingly, it was the state leadership of the PDP that first indicated its readiness to challenge the court judgment, a position echoed by Oborevwori. While the Speaker’s camp, which is synonymous with Governor Ifeanyi Okowa’s political camp, has vowed to quash the verdict of the high court through the

Edevbie

appellate court, David Edevbie has insisted that he actually saved the state PDP’s neck from the political noose on 2023. He said although he was initially reluctant to go to court, the compelling need to stop the opposition from taking advantage of the observed flaws in the process that led to the election of Oborevwori prevailed. “Propelled by the inevitable pall of gloom that hung over Delta State and faced with the real possibility that opposition parties would capitalise on the blindingly obvious situation, I was left with no alternative but to challenge the outcome in the law courts, albeit reluctantly.” While urging the party members to “put our differences aside and work together” in order to win the coming elections, Edevbie said, “Delta State has always been a PDP State and by the grace of God, it will remain so after the next elections.” Rivalry between Ibori and Okowa Although, the two influential political figures in the PDP and Delta State often do not admit it publicly, the fact that former governor James Ibori and the incumbent were not agreed on a particular candidate to fly the party’s flag in 2023 give the lie to such of a harmonious partnership. It is common knowledge that Oborevwori is Okowa’s choice of successor while Edevbie was nominated by Ibori. The déjà vu atmosphere was so palpable, in the countdown to the primary election that it could not be mistaken for an illusion. The activities were reminiscent of the 2014 scenario with the dramatic

personae largely the same, save the absence of Mr Tony Obuh, the deceased technocrat who became an unfortunate pun in the chess game between the major political actors, including ex-governor Ibori and his surrogate, former governor Emmanuel Uduaghan. Although, Dr Ifeanyi Okowa’s role in 2022 has slightly changed from that of 2014, in that his bargaining power has been greatly helped by his elevation in political status as the sitting governor, his active role in the unfolding drama in Delta State simply completed the déjà vu picture. Although, Governor Okowa had persistently given assurance of “a level playing field” for all the governorship aspirants, the body language of the governor and practically all his political appointees showed clearly that Oborevwori was his anointed one. The PDP may have let the cat out of the bag by its response to the March 14, 2022 press statement by APC’s Wilson Omene, entitled, “Delta 2023: Okowa Picked Sheriff Oborevwori to Cover His Tracks”. The statement simply alerted the public to its belief that the Speaker appeared unprepared to meticulously scrutinize every loan request from the governor before granting necessary legislative approval because the governor has anointed him as the PDP governorship candidate and successor-inwaiting. Needless to say, the state party last eadership promptly took the opposition party to task over the claims. To begin with, PDP’s publicity secretary, Ifeanyi Osuoza, titled his response thus: “Delta APC is already scared of facing a new Sheriff Who May Come to Town”. It was understood by many as indicating that the party leadership was biased, despite the spirited attempt to create the impression that the PDP regarded all its gubernatorial aspirants as equally and eminently qualified to govern the state. It also said that the PDP was not like the leaders of the APC in the state known for imposing candidates. Endorsement of David Edevbie by the UPU

Currently, democracy is evidently on trial in the Peoples Democratic Party (PDP) in Delta State, the party in power in the state, and indeed has been in power since the restoration of democratic rule in Nigeria in 1999. While other parties struggle with their plans to break PDP’s stranglehold on political power in the state, the party, more often than not, has apparently been unable to evolve a crisis-free and seamless process of selection or election of its candidates for the governorship and other elections

One month after the controversy over the APC’s criticism of Delta House’s approval of the N12 billion loan facility, the Urhobo Progress Union (UPU) issued a statement endorsing David Edevbie, one of the PDP’s governorship aspirants. Again, the party’s reaction was swift. The chairman of PDP, Delta Central senatorial district, A.P. Fovie, responded the following day, warning the Urhobo socio-cultural organisation to retract its statement as it amounted to “usurping the functions of the party with Edevbie’s endorsement”. This was expectedly amplified by the state publicity secretary. ‘It has come to our notice that the leadership of Urhobo Progress Union (UPU) on Sunday 17th April 2022, via a press statement announced the endorsement of a governorship aspirant under the Peoples Democratic Party (PDP), Olorogun David Edevbie, as the union’s preferred aspirant and in the same token urged our party delegates to vote en-mass for him. “UPU efforts in the affairs of Urhobo nation of Delta Central Senatorial District will always be appreciated if and only if such efforts or interests are not in conflict with the duties and regulations of our party, PDP, and its organs. And in the instant case, we found out that the purported endorsement of our party member who is a governorship aspirant usurped the functions of our party in the ongoing electioneering process leading to the party primaries. “This obvious external interference by UPU and her leadership occasioned by the endorsement of a PDP governorship aspirant in Delta State cannot in any way be encouraged, hence this subtle appeal to the leadership of this great socio-cultural organisation to immediately repudiate and/or nullify the endorsement via another press statement, please”, the PDP said. Evidence that all was not well with the party also emerged a day before the contentious primary when one of the aspirants, Olorogun Kenneth Gbagi, announced his withdrawal from the race, accusing the governor of undisguised bias. Gbagi, who is Urhobo, like Edevbie and Oborevwori, had since pitched tent with the Social Democratic Party (SDP) and become its governorship candidate. Political observers smelt a rat with the selective criticism of the endorsement of Edevbie by the UPU at a time countless number of groups and organisations were “endorsing” different aspirants to various elective positions in the state. For instance, the reported endorsement of Oborevwori by the entire members of the state House of assembly was even published as advertisements in the national dailies. The question was whether the PDP would have been so quick in its condemnation of the official support for Edevbie had UPU endorsed Oborevwori instead of Edevbie. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ MONDAY JULY 11, 2022

FEATURES

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

Prison Breaks in Nigeria, a Ticking Time Bomb Due to the pervasive lack of security in and around correctional and custodial centres nationwide, prison breaks have so far resulted in the escape of over 7,000 prisoners from Nigerian prisons since 2015, with over over 5,000 recorded in just one year-2020. Chiemelie Ezeobi reports that the recent attack in Kuje Prisons that saw the escape of 600 inmates, including 64 sentenced Boko Haram terrorists, has again brought to the fore the worrisome state of the nation's security architecture and the looming danger ahead

Identities of the escaped Boko Haram terrorists

he incessant attacks on custodial facilities of the Nigerian Correctional Service (NCoS) to forcefully spring both convicts and awaiting trial inmates have become one danger too many. Aside the grave danger it portends to the society, it has become source of worry and an embarrassment to the nation's security architecture. Expectedly, with each jail break, the NCoS, formerly known as the Nigeria Prisons Service (NPS), has remained in the eye of the storm. In fact, from September 2015 to July 2022, there have been about 15 jailbreaks across Nigeria, resulting in over 7,000 escapes. From Bauchi to Sagamu, Ogun, Jos, Ondo, Lagos, Ekiti, Minna, Kogi, Benin, Owerri and now Kuje, these jail breaks (not counting the foiled attempted ones), the President Muhammadu Buhari administration has recorded 15 successful prison breaks. Kuje Jail Break The attack on Kuje Custodial Centre last week Tuesday was as damning as it came. From the blues, about 300 armed men stormed Kuje and pomped rocket propelled grenades and improvised explosive devices into the custodial centre. For over two hours they held sway as they went cell by cell to free inmates, including many top Boko Haram commanders held in the facility for years. According to Police Affairs Minister, Maigari Dingyadi, the invaders overpowered the minimal security presence at the facility as a result of their large number and superior fire power. At the end five persons, including an officer of the Nigerian Security and Civil Defence Corps (NSCDC) and four inmates, died during the attack. According to the Commanding Officer of

the Nigerian Army Battalion in Gwagwalada, Lieutenant Colonel Adisa, over three hundred insurgents were behind Tuesday’s attack on the Kuje Prison, adding that only a total of 50 security personnel were on ground when they came armed with Improvised Explosive Device (IED) and other weapons. Escaped Inmates and Controversy over Figures After the break in, several figures were thrown around about the actual number of inmates and convicts who escaped. The Ministry of Interior and the Nigeria Correctional Service gave conflicting figures. The Permanent Secretary of the Ministry of Interior, Shuaib Belgore, said more than 600 inmates escaped from the prison which accommodated 994 inmates. He said many were recaptured and brought back to the prison. But the NCoS spokesperson, Umar Abubakar, said 879 inmates escaped from the Kuje Prison with 551 inmates still in custody. He however claimed they recaptured 443.

Release of Top Boko Haram Terrorists Perhaps, the most alarming part was that top Boko Haram and ISWAP terrorists and their financiers were all released including Boko Haram second in command, Muhammed Sani, as well as Yusuf Ali Yusuf, Mansur Usman, Zakari Nabil, Sadiq Garba Abubakar and Yazid Usman and several others. Identities of Escaped Inmates To expedite action on their re-arrest, the NCoS released a full list of the names and pictures of the escapees. The 69 fleeing inmates with terrorism-related cases were identified as Abdusalami Adamu, Abubakar Mohammed, Abubakar Yusuf, Akibu Musa, Ismail Idris Abdullahi, Abdulkareem Musa, Mustapha Umar, Abubakar Abdulrahman Habibu, Abubakar Mohammed Sadiq, Adam Lawal Muhammad, Amodu Omale Salihu, Bello Haruna, Faruku Waziri, Hassan Hassan, Ibrahim Musa, Idris Ojo, Ishaq Farouk and Mohammed Goni Kyari. Others include Mohammed Guja, Bilyaminu Usman, Bukar Ali, Ibrahim Mohammed, Ikya Abur, Modu Aji, Mohammed Sani, Musa Abubakar, Mustapha Umar, Shehu Abdullahi, Suleiman Idi, Suleiman Zacharia, Sunday Micheal, Yakubu Abdullahi, Yasir Ibrahim Salihu, Yunusa Mukaiya, Abdulmannan Obadiki, Abubakar Mohammed Musa, Abubakar Umar, and Adamu Mohammed.

We had enough men to protect this facility but unfortunately they couldn’t hold their position effectively for defence and that was the reason for the breach

Still on the list was Abdulazeez Obadaki, Auwal Abubakar, Mansur Mohammed Usman, Mohammed Abubakar, Mohammed Jamiu Eneji Sani, Muazu Abubakar, Muhammed Sani Adamu, Muktar Umar, Nambil Zakari Gambo, Sadiq Garba Abubakar, Yazid Muhammed Usman and Yusuf Ali Yusuf. The rest were identified as Ahmadu Hagola, Asama Haruna Kanti, Baluye Modu, Bassey Victor Kingsley, Diko Iko, Alhaji Bukar, Mohammed Saleh Buba, Mohammed Umar, Sani Mohammed, Umar Ahmadu Ladan, Usman Balarebe, Yahaya Adamu Abubakar, Yusuf Yakubu, Mukhtar Ussaini Khalidu, Musa Adamu, Musa Umar, Onyemire Asagba, Rabiu Shaibu and Sahabi Ismail. ISWAP Claims Responsibility After the blast and breakout, the Islamic State in West Africa Province (ISWAP), a breakaway group of the Boko Haram terrorist group, claimed responsibility through a video where they showed themselves chanting their prayer as they shot sporadically into the air and set cars ablaze during the attack. They also reportedly delivered Quranic lecture to inmates before setting them free. Blame Game As expected, blame games were thrown and parried. Throwing the first salvo, President Muhammadu Buhari, under whose watch 15 jailbreaks have been recorded, blamed the intelligence gathering system for the security loophole. During a visit to the incident scene before he jetted out to Senegal, he said: "I am disappointed with the intelligence system. How can terrorists organise, have weapons, attack a security installation and get away with it? Continued on page 21

T H I S D AY ˾ MONDAY JULY 11, 2022

FEATURES

Prison Breaks in Nigeria, a Ticking Time Bomb

President Buhari accompanied by SGF, Boss Mustapha and CoS, Professor Ibrahim Gambari at the scene of the incident I am expecting a comprehensive report on this shocking incident." Buhari was accompanied by Boss Mustapha, the Secretary to the Government of the Federation and Professor Ibrahim Gambari, the Chief of Staff. On Thursday, Senate President Ahmad Lawan, who toured the destroyed facility, also expressed disappointment with the intelligence system. Insider Connivance Still on the incident, the Senate President said it was successful because it was done in active connivance with some insiders at the facility, adding that the incident spoke volume about the failure of the country’s security architecture. No CCTV While the blame game was ongoing, it was the Senate President who delivered the sucker punch with his disclosure that there was no Closed-Circuit Television (CCTV) devices at the Kuje Prison. “Having gone round the facility itself, we are disappointed that there are no CCTV, something that will record or at least give you a view of what is happening and sometimes record the event. “Now, this is a medium-security custodial centre. How on earth does a centre of this magnitude in the FCT not have any CCTV? It means we can say that all other medium security custodial centres across the country do not have CCTV", Lawan queried. He asked the Comptroller General of the NCoS to include a request for the provision of CCTV across maximum and medium correctional centers across the country in its 2023 budget proposal to the National Assembly for approval. A Minister's Disappointment Expressing disappointment, Minister of Interior, Rauf Aregbesola, said it was quite unfortunate that the assorted array of security forces guarding the medium security prison in Kuje could not defend the facility against terrorists attack. He said “A platoon of the Nigerian Army with sophisticated weapons, the Nigeria Police Force, officers of the NSCDC, and armed officers of the Nigerian Correctional Service on ground during the time of the attack. We have a world class facility here by any standard. I am disappointed with the level of defence. “We have enough men to protect this facility but unfortunately they couldn’t hold their position effectively for defence and that was the reason for the breach. Kuje is the most fortified in the country, if fortification for security is the determinant of whether it is medium or maximum. “It is medium by size but maximum by the security being put there. “It is very regrettable that this happened. Let’s put it in context. The nation was experiencing asymmetric warfare. Yes, the insurgents have been degraded in the North-East. “We have 61,000 of them in our custody in the North-East, the effect of the effectiveness itself in degrading them in the North-East is what we are experiencing." Red Alert Given the calibre of escapees, the military,

intelligence and security agencies were immediately placed on Red Alert to curtail any likely attacks. Also, surveillance has been heightened in public places, highways and soft targets such as schools and open markets. In fact, the Commissioner of Police, FCT, CP Babaji Sunday, said the command will intensify “robust stop and search operations, high level visibility policing patrols and surveillance of places of worship, parks, recreational centres and residential areas, and prompt response to any distress calls from across the FCT". Recapture Pursuant to the release of identities, on July 9, 2022 at about 1:30am, one Hassan Hassan whose name and picture was amongst the escapees with Boko Haram/ Terrorism Case was recaptured by the police operatives of the Nasarawa State Police Command at Keffi. The command said the suspect was transferred to a safer location while intensive search for other escapees continues. Calls for Sack Days after the attack, several calls have been made to sack those in leadership- from the minister of defence to his interior counterpart, to the Comptroller-General of the Nigerian Correctional Service, Haliru Nababa. One of those championing the call is the Human Rights Writers Association of Nigeria (HURIWA), who posited that the Minister of Interior, Rauf Aregbesola, must be sacked with immediate effect over his failure to put an end to the incessant attacks on prisons in the country. In a statement signed by its National Coordinator, Emmanuel Onwubiko, the group said “The spate of jailbreaks under President Muhammadu Buhari and Minister of Interior, Rauf Aregbesola, is alarming and condemnable. Even under then-President Goodluck Jonathan, who had no military experience or background, jailbreaks weren’t as rampant as what Nigerians see these days. “The frequent and recurring jailbreaks show the inefficiency of all those President Buhari appointed into office and his unwillingness to sack them show also that the

Minister of Interior, Rauf Aregbesola

CG NCoS, Haliru Nababa

President tacitly want the situation to continue to fester. “HURIWA demands the sacking of the Minister of Interior, Rauf Aregbesola; and his Defence counterpart, Bashir Magashi; for perpetual incompetence. We also call for a broad-based judicial panel of inquiry on prison breaks in Nigeria to be constituted.”

Sadly, of this figure, over 50,000, which loosely translates to about 70 per cent, are awaiting trial (AWT) inmates. Heading the NCoS now is ComptrollerGeneral Haliru Nababa, who was appointed on February 18, 2021 and Confirmed March 24, 2021. What causes the incessant prison breaks in Nigeria one might ask? In most cases, it may be attributed to corruption, poor funding of the prison services, poor prison facilities, inadequate security features such as CCTV, motion sensors, high wall made up of barbed wire and sometimes electric fencing of the wall. Given the abysmal congestion crisis in Nigeria's prison system and the terrible state of its environment, the reason for sending convicts there is most times defeated. Even with the change in nomenclature from Nigerian Prison Service to NCoS, the underlying factor is yet to change- endemic corruption and zero maintenance structure. Beside the degrading prison environment and overcrowding, many correctional centres do not have modern security equipment to forestall such breaches. The officials are also known to smuggle in contrabands including generators and phones.

Grave Implications It would be pertinent to state the grave implications of the jail break given that the criminals returned back to society. Continuous delay in their return means that they will continue to operate under the cloak of darkness to groom and perpetuate more atrocities. These hardened criminals roaming the streets will inadvertently contribute to unprecedented insecurity across board. These breakdown of security across the country has led to a surge in frequent prison breaks, kidnapping and banditry. Timeline of Prison Breaks Under this administration, there has been 15 successful jail breaks with about 7,000 inmates freed. On October 19, 2020, Oko Prison in Edo was attacked during the EndSARS saga; on October 21, 2020, another Benin Prison break saw 1,993 inmates escape from the two facilities; on October 22, 2020 in Okitipupa prison break, 58 inmates were released. Also, on April 4, 2021, in the Owerri prison break, 1,844 inmates were freed; on September 13, 2021 in Kabba prison break, Kogi, 240 inmates were freed; on October 22, 2021 in Abolongo prison, Oyo break, 837 inmates escaped; on July 19, 2021 in Jos maximum security prison break, four inmates escaped. On November 28, 2021 in Jos medium security prison attack, 262 inmates were released and 10 killed; on September 3, 2015 in Sokoto Remand Home break, 13 inmates escaped; on June 4, 2018 - Minna Maximum Security prison break, 210 inmates escaped. On January 2, 2022, Mandala prison in Ilorin experienced jailbreak and three inmates escaped; on May 13, 2022 in Agbor prison, Delta State, fence collapsed and three inmates escaped; on October 7, 2017, the Enugu Maximum prison break happened and two inmates escaped; on December 27, 2017, Ikot Ekpene Prison was attacked and 47 inmates escaped; then on July 4, 2022 Kuje prison Abuja was attacked and about 600 escaped. The Antithesis Called Nigerian Correctional Centres For a nation of over 200 million citizens, Nigeria boasts of 244 custodial centres nationwide. However, even though these centres only have capacity for 50,153 inmates, there are about 75,000 inmates currently.

Kuje is the most fortiﬁed in the country, if fortiﬁcation for security is the determinant of whether it is medium or maximum. It is medium by size but maximum by the security being put there. It is very regrettable that this happened

Way Forward According to stakeholders and security analysts, including those at Nextier SPD, jailbreak has assumed a terrible dimension in Nigeria in recent years. it is quite unfortunate that despite the frequent cases of jailbreaks with an evident likelihood of official collusion, suspects are hardly prosecuted for gross inefficiency, criminal conspiracy or unprofessional misconduct. Stressing the need for the NCoS to partner the International Criminal Police Organisation (INTERPOL) to track escapee prisoners, they opined that the Nigeria Immigration Service should beef up security at the nation's borders in a bid to arrest the inmates. The also noted that there is need for target hardening across the 244 correctional centres given that most of Nigeria's prisons were built several decades ago and so have become weak because of lack of maintenance and neglect by successive administrations. They posited that such facilities are in dire need of an upgrade in terms of better walls, perimeter fences, and solid gates. Stressing that the living conditions of the inmates be updated, they also called for modern equipment in the correctional centres to aid security so that breaches could be easily detected and nipped in the bud. Harping on training for prison officials, the group also charged the NCoS to take serious the data capture of all inmates, adding that government should enrol all inmates into the National Identity Number system. Also harping on inter-agency cooperation, they said it is crucial to reducing and curbing the menace of prison breaks, especially in intelligence sharing and reinforcement, adding that it has become pertinent for quick prosecution of detained suspects across the country's correctional facilities to mitigate the threats arising from incessant jailbreak. Also, HURIWA charged the president to immediately set up a judicial panel of inquiry on prison attacks in the country and ensure that such assaults on the entire security apparatus of Nigeria do not recur.

MONDAY JULY 11, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, JULY 11, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

J U L Y

S & P INDEX

8 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Banks Raise Prime Lending Rate to 11.96% on Inflation, Hike in MPR

Kayode Tokede On the backdrop of economic uncertainty, raising inflation and the hike in Monetary Policy Rate (MPR) to 13 per cent by the Central Bank of Nigeria (CBN), banks operating in the country have responded with prime lending increasing to 11.96 per cent in May from 11.83 per cent reported in April 2022. The prime rate is the interest rate that banks charge their most creditworthy customers, generally large corporations. The CBN had increased the MPR or interest rate to 13 per cent in response to global inflationary pressures, which has continued to hurt economies around the world. The CBN in its “Money Market

Indicators” data revealed that prime lending as of May 2022 reached its highest level this year and 16-month high when the MPR was 13.5 per cent in January 2020. With the prime-lending rate reaching its highest level in 2022, the CBN data revealed that the maximum lending rate dropped lowest in 2022, as banks move to attract more lending to customers. Maximum lending rate dropped to 27.37 per cent, a 0.42 basis points decline from 27.79 per cent reported by CBN in April 2022, while interest on saving deposit closed May 2022 at 1.37 per cent, highest so far this year. The interest rate on treasury bills (T-bill) increased to 2.12 per cent in May from 1.74 per cent in April 2022. The CBN had announced a TBills

for 1-year tenor worth N143.88 billion, which was auctioned on Wednesday, 25th of May 2022, accumulated a total subscription of N210.82 billion, representing 147 per cent of the intended capital raise. According to the result of the auction, the stop rate for the 364-day Tbills was 6.49per cent, which is higher than the 4.7per cent marginal rate recorded in the previous auction. The apex bank recorded a total subscription of N236.97 billion for the three tranches of Tbills auctioned as against the N153.03 billion intended offer. This represents a 155per cent subscription rate, while the final aggregate allotment was N173.48 billion. According to analysts, the decline in maximum lending rate and saving

deposit rate is targeted at attracting more customers borrowing and savings in the banking sector. Speaking with THISDAY, vice president, Highcap Securities Limited, Mr. David Adnori lamented over the increase in prime lending rate to MPR, stressing that gap between the CBN’s lending rate and the prime lending calls for concern in the banking industry. According to “The gap is almost like double-digit and it indicates a serious rant-seeking within the banking industry. “The spread between the prime lending rate and MPR should not be more than 10 per cent but when you have something more than 100 per cent, it means there is a serious rent-seeking activity in the banking

sector that is eroding the nation’s economy of resources.” On his part, the President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka attributed the increase in prime lending rate to uncertainty surrounding and inflation rate in the business environment amid political tension. Ogubunka said Nigeria’s economy in 2022 has not witnessed major improvement to warrant a hike in banking lending rate to the real sector, stressing that the hike in prime lending is expected to impact increase cost of doing business in the country. Also speking, the President of the Association of the Capital Market Academics in Nigeria (ACMAN), Professor Uche Uwaleke said the

decline in maximum lending rate is as a result of excess liquidity in the banking sector, stating that the interventions by CBN also forced banks to cut interest rate on loans to customers. He explained, “When the money supply is high, it is expected to translate into low interest rates on lending to Bank customers. The numerous interventions by CBN have forced down interest rates in the banking sector. The CBN has a lot of its intervention at single digit interest rate; moved from nine per cent to five per cent. When the CBN should have ended that regime of five per cent lending rate, it extended it further. Continued on page 25

NGX Lists N1.08trn New Issuances, $4bn Eurobonds in H1 2022 Kayode Tokede The Nigerian Exchange Limited (NGX) has listed new issuance worth N1.08 trillion and Eurobonds of $4 billion on its platform in the first half (H1) of 2022. The issuances listed across both the bonds and equities markets are essential in deepening the market,

tradability, and improving liquidity as well as increasing access to capital to fund growth returns. In the equities market, NGX started the year with the landmark listing of BUA Foods’ 18 billion shares listed at N40 per share, adding N720 billion to the NGX market capitalisation. Abbey Mortgage Bank also listed

its right issue of about N3.028 billion, while Access Holdings, following its merger and acquisition, listed new shares of 35.545 billion shares valued at N353.675 billion. On the NGX’s bond market, the Federal Government of Nigeria dominated issuances, raising about N2,494,110,547,000.00 locally and listing $4 billion in Eurobonds.

Furthermore, NPF Microfinance Bank listed 3,107,001,335 ordinary shares of 50 kobo each arising from the offer of 2,286,657,766 ordinary shares of 50 Kobo each at N1.50 per share via a Rights Issue on the basis of 1 new ordinary share for every 1 ordinary share held and public offer of 713,342,234 ordinary shares at N1.50 per share made

by NPF Microfinance Bank Plc amounting N4.66 billion while other memorandum listing stood at N2 billion. According to the NGX, capital is critical for business growth either in form of debt through bonds, or equity through shares. Speaking on the performance, the Chief Executive Officer, NGX Limited,

Temi Popoola noted that the NGX being a significant component of the capital market, will continue to play a significant role in the capital formation process because of the tremendous opportunities that ensue from its activities. “It is expected that a thriving Continued on page 25

M A R K E T D ATA A S AT F R I D AY, J U LY 8 , 2 0 2 2 BILLS

BONDS DESCRIPTION

Price

Yield

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

109.34

8.14

108.07

10.04

104.52

10.92

120.08

10.72

112.78

10.88

Change Updated Time (%) 8, 0.00 July 2022 8, 0.00 July 2022 8, 0.22 July 2022 8, 0.00 July 2022 8, 0.00 July 2022

MATURITY

Discount

Yield

OTC F X F U T U R E S

CPS

Change Updated Time (%)

NTB 11Aug-22 NTB 8-Sep22 NTB 13-Oct22 NTB 10Nov-22

10.00

10.09

-0.01 July 8, 2022

9.75

9.91

-0.01 July 8, 2022

9.00

9.22

0.00 July 8, 2022

3.90

3.95

0.00 July 8, 2022

NTB 26-Jan23

6.84

7.11

0.00 July 8, 2022

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

Discount Yield

Change Updated Time (%)

18.91 19.09

0.02 July 8, 2022

15.28 15.43

0.01 July 8, 2022

19.45 20.64

-0.02 July 8, 2022

13.71 14.30

-0.03 July 8, 2022

12.91 13.44

-0.02 July 8, 2022

CONTRACT Current TENOR Contract Rate ($/₦) (MONTH) NGUS JUL 27 1 429.51 2022 NGUS AUG 31 431.36 2 2022 NGUS SEP 28 3 433.21 2022 NGUS OCT 26 4 435.06 2022 NGUS NOV 30 5 436.92 2022

Updated Time

July 8, 2022 July 8, 2022 July 8, 2022 July 8, 2022 July 8, 2022

MONDAY, JULY 11, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Ardova Reports 6% Increase in Revenue to N192.47bn

Kayode Tokede

Ardova Plc has announced N192.47billion revenue for the year ended December 31, 2021, representing an increase of nearly 6 per cent over N181.66 billion reported the prior year. The company, thus, closed the 2021 financial year with N1.54 billion profit as against N2.06 billion reported in 2020 full year result and accounts. The company also announced first quarter (Q1) ended March 31, 2022 unaudited result and accounts that showed significant improvements as yields from investments made in 2021 contribute to growth in revenue, sales volume, and profits. As revenue grew by 21.4 per cent to N50.6billion in Q1 2022 from N41.65billion reported in Q1 2021, Profit before tax appreciated by 37 per cent to N1.60 billion in Q1 2022 from N1.17billion reported in Q1 2021. Commenting on the 2021 audited financial statement, the Chief Executive Officer, Ardova, Mr. Olumide Adeosun in a statement said, “2021 proved to be an eventful year for Ardova, as it marked the completion of our stabilization strategy, with the consequent strengthened balance

sheet providing the leverage for the inorganic expansion required to evolve Ardova into an integrated energy company. He added, “In the course of the year, we concluded a landmark capital raise of N25.3 billion in an over-subscribed bond that was the largest by any downstream company in Nigeria, and an indication of investor confidence in Ardova’s future. “We also concluded the acquisition of Enyo Retail and Supply Limited (ERSL) in a deal that makes our retail network the largest in Nigeria. The company also made further investments in cleaner energy infrastructure, as it commenced onsite work on its 20,000 metric tonne Liquefied Petroleum Gas (LPG) storage facility in Ijora. Ardova won a license to operate an Oil Marginal Field following a successful bid in the 2020 round, thereby increasing the company’s potential for foreign currency revenue generation.” The Chief Financial Officer, Ardova, Moshood Olajide in the statement said, “The company continued to deliver on profits, as we ended Q1 with a profit-after-tax position of N1.6billion, which is a growth of 37per cent compared to the same period in 2021.

“We also continued to increase our capital expenditure, principally in investments that facilitate our strategic expansion, and we expect to see returns within a three-year window.” Olajide further noted that Ardova’s Q1 2022 results showcased resilience, “as We sustained competitive growth by increasing revenue by 21per cent YoY (Group: 50per cent YoY), with the resulting profit of N1.6billion putting us in a 37per cent growth YoY position. “As a group, we were negatively impacted by our subsidiaries, Axles & Cartage Limited, which faced operational environment issues and the newly acquired Enyo, which is presently undergoing a transformation process to drive operational efficiency and profitability. When subsidiaries are taken into consideration the group loss amounts to N3.8 billion.” Adeosun stated that “the loss experienced in 2021 are an expected reflection of the strategic inorganic growth programme of the company, and do not affect the viability of the company, especially as some of the immediate benefits of this programme were illustrated by the better year on year performance recorded in our Q1 2022 results.”

SDG: Allianz to Commit N11m on Youth Employability Programme Ebere Nwoji Global Insurance giant, Allianz, has said that it will channel part of its Social Impact Fund towards supporting youth employability in Nigeria as part of effort to implement Sustainability Development Goals (SDG 8) across the globe. The Managing Director and Chief Executive officer Allianz Nigeria, Adeolu Adewunmi-Zer, who stated this at a media parley in Lagos said the insurance conglomerate has set aside 28,000 Euros (N11.820 million) under its Social Impact Fund to support youth employability in Nigeria. Adewumi-Zer, who spoke as a special guest at the 2022 Annual General Meeting (AGM) of the National Association of Insurance and Pension Correspondents (NAIPCO) in Lagos, said within the next three years, Allianz would provide differently-abled persons with digital skills that would enhance their ability to earn a living. This donation, she said, would be made from the Allianz Social impact Fund, which was dedicated to the implementation of Sustainability

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

Development Goal (SDG 8) in many countries around the globe. She said SDG 8 recognises the importance of sustained economic growth and high levels of economic productivity for the creation of well-paid quality jobs, as well as resource efficiency in consumption and production. She said in Nigeria, the SOS Children’s Village would benefit from the fund aimed at strengthening holistic youth development with the view to building an interactive inclusive society. She said already SOS Children’s Village and Allianz were collaborating to promote youth employability and this had translated to Allianz making an additional donation to the SOS Children’s Village in Nigeria this year. He added, “As part of social impact project, Allianz Nigeria employees volunteer annually to

join World Clean-up Day. In 2021, over 100 employees across Nigeria picked up waste and gabage on a stretch of seven kilometres each in Lagos, Abuja, Port Harcourt, Ibadan and Benin cities.” Adewumi, said Allianz was a forward looking company which cared for the future of its employees through its employee-focussed initiatives aimed at fostering team spirit, bonding and creativity through Cultural Day engagement activities. She said in terms of business, Allianz was a global brand and had built reputation worldwide and would do everything possible to protect that reputation. She said the firm had come to Nigeria for Continuous selling of generic products and for development of new products especially for small and medium enterprises to ensure their business survival and continuity.

Flourish Africa Fund Empowers 500 Female Entrepreneurs Flourish Africa, the women empowerment movement founded by Apostle Folorunso Alakija, Africa’s leading businesswoman and Philanthropist, has announced the graduation of the first batch of 500 female entrepreneurs and beneficiaries of the Flourish Africa Business and Life Skills Training program. The Business and Life Skills Training programme, targeted at female-owned Micro, Small and Medium Enterprises (MSMEs), was inspired by Apostle Folorunsho Alakija’s desire to raise the next generation of economically empowered women on the continent, starting with Nigeria for the next 5 years. and to provide them with the skills needed to manage successful and financially viable businesses. During the 12-week long intensive training program, the 500 beneficiaries were exposed to world-class coaching and business mentoring from industry experts, including

Apostle Alakija herself. While speaking during the live mentorship session, she urged the women to support one another and exhorted the importance of passing on the lessons they had gained. “Business is God’s Business,” she remarked, emphasising the need to “place God first in business,” explaining that it was the key to her success as an entrepreneur. The Engagement Associate, Flourish Africa, Eloho Iyamu who commented on the program’s success, disclosed that in addition to the training, the graduands would also partake in a business pitch competition where 100 winners will get funding of up to N2 million. In addition, the graduates will also be inducted into the prestigious Flourish Africa Alumnae association, which has been positioned to become a knowledge and expertise powerhouse for African female-owned businesses.

Rights, Responsibilities of Contributors Under The Contributory Pension Scheme The Pension Reform Act 2014 (PRA 2014) confers certain rights on contributors which provide some level of protection and comfort to them and their loved ones during their working years, and upon retirement. These rights cover all employees in the Public Service of the Federation, Federal Capital Territory, and States that have implemented the Contributory Pension Scheme (CPS), as well as the private sector. It is therefore important for contributors to know what some of these rights are, in order to be guided accordingly. Right to Choose a Pension Fund Administrator The contributor’s journey through the CPS begins with the opening of a Retirement Savings Account (RSA) with a Pension Fund Administrator (PFA). Every individual under this Act has a right to choose a PFA, without any interference by their employer or by any third party and is required by the PRA 2014 to register with a PFA, obtain a Personal Identification Number (PIN) for their RSA and provide the details to their employer to commence remittance of their pension contributions. Right to Timely Complete Remittance of Pension Contributions The employer is required to deduct at source from the salary of the employee, an amount comprising their pension contribution, and remit the same along with the employer portion to the Pension Fund Custodian specified by the Pension Fund Administrator of the employee, not later than seven working days from the date salaries are PENCOM DG, Aisha Dahir-Umar paid. The minimum rate of contribution is 18% of the employee’s monthly emoluments where job. This is in line with Section 7 (2) of the PRA 10% is contributed by the employer and 8% is 2014 which states that “where an employee contributed by the employee. The constituent voluntarily retires, disengages or is disengaged of monthly emoluments is as may be defined from employment as provided for under section in the employee’s contract of employment, but 16 (2) and (5) of the PRA 2014, the employee should not be less than the total sum of basic may with the approval of the National Pension salary, housing, and transport allowances. For Commission (PenCom), withdraw an amount of employees whose salaries are not classified into money not exceeding 25% of the total amount basic, transport, and housing allowances, the credited to their retirement savings account. Such pension contributions should be based on the withdrawals can be made if the employee is unable to secure another employment after 4 months gross salary payable. Right to Transfer RSA from One PFA to another of such retirement or cessation of employment. Right to Insurance Cover Contributors have the right to determine which All employees in the Public Service of the PFA manages their pension contributions and retirement benefits. Therefore, if a contributor Federation, Federal Capital Territory, and States feels the need to transfer their RSA from one that have implemented the Contributory Pension PFA to another PFA, they can do so, though, Scheme as well as the private sector, have the no more than once a year. This is pursuant to right under Section 4(5) of the PRA 2014 to have Section 13 of the PRA 2014. In order to facilitate its a Life Insurance policy taken on their behalf by implementation, the National Pension Commission their employers for an insured amount of not less (PenCom) deployed the RTS on November 20, than three times their annual total emolument.” 2020. The RTS is a fully automated, efficient, and The annual total emolument is the total sum of transparent process that has pre-defined timelines, basic salary and all allowances payable as their ensuring the hassle-free movement of RSAs between remuneration for one year, as may be provided PFAs. The transfer process is free of charge and under the salary structure or terms and conditions the contributor has the liberty to choose the PFA of his/her employment. The policy which ensures that dependents of a deceased employee receive they prefer for this purpose. Right to Earn Penalty Charge Of 2% on Late three times his total annual emolument is meant to cushion the effect of death on a deceased Remittance of Pension Contributions Where an employer fails to deduct or remit the worker’s family. Right to Choose Mode of Exit from the CPS contributions within the stipulated time frame of Upon retirement, the contributor has the right 7 working days from the day salaries are paid, they shall in addition to making the remittances to choose the mode of accessing their retirement already due, be liable to a penalty, which shall not benefits. The PFA is to provide information in be less than 2 percent of the total contributions this regard. The responsibilities of the contributors are to that remain unpaid for each month or part of each month the default continues. This amount ensure that they, of the penalty will be recovered as a debt owed i. Provide updates to their PFA in cases of change of employment, personal details, and paid into the employee’s RSA. or contact information. Right to Receive RSA Statement of Account The contributor has the right to receive an ii. Ensure that they receive their quarterly RSA statements from their PFA and review them RSA statement from their PFA at least once every in order to identify any irregularities. quarter. The RSA statement has some minimum information and disclosure requirements mandated iii. Confirm that their employer is making timely, complete monthly remittances to their RSA by the Commission. PFAs may also send RSA i.e. both employee and employer portion as balances via text messages and the contributor stipulated by the PRA 2014. has the option of checking the performance of their RSA online or by physically visiting the iv. Verify that their employer has subscribed to a Group Life Insurance policy for them nearest branch of their PFA to obtain a hard copy and the premium is being paid annually, of the RSA statement. consistent with relevant laws Right to Receive Up To 25% of RSA Balance It is in the interest of employees covered to Upon Temporary Loss Of Employment In the event of temporary loss of employment, a ensure that the aforementioned are implemented contributor may fall back on their RSA balance to and report any breaches via PenCom’s reporting tide them over till they are able to secure another channels in order to have them addressed.

T H I S D AY ˾ MONDAY, JULY 11, 2022

BUSINESSWORLD

STATUS REPORT

Claims Plods AXA Mansard Insurance Profits

Kayode Tokede

ith mounting gross claim expenses and increase in gross premium written, Axa Mansard Insurance Plc reported decline in profits to underline a challenging operating

environment. On declaring decline in profit, the listed insurance company that experienced a volatile earnings season in the financial year ended December 31, 2021 boosted its dividend payout to shareholders to remain as one of the most fundamental insurance stocks on the Nigerian Exchange Limited (NGX). Reporting a profit after tax decline of 17.02 per cent to N3.74 billion in 2021 from N4.5 billion reported in 2020, the management of Axa Mansard Insurance proposed a dividend of N0.25 kobo per N2.00 kobo ordinary share, subject to appropriate withholding tax and approval will be paid to shareholders. The company in 2020 audited financial statement declared a dividend of 5.5 kobo per 50 kobo ordinary share. However, profit before tax also dipped by 4.3 per cent to N5.78billion in 2021 from N6.04 billion reported in 2020 The composite risk underwriter’s profits over the last five-year have witnessed consistent growth in Gross written premium and Net premium income but mounting claims expenses (gross) played a critical role in profits reported in 2021 financial year.

CLAIMS EXPENSES

A major development on the claims expenses (gross) front caused the backward swing in profits declared in 2021 as it covered 48.16 per cent gross premium written as against 44.5 per cent in 2020. Axa Mansard Insurance with 26.5 per cent increase in gross premium written to N60.19 billion in 2021 from N47.58 billion reported in 2020, closed the year under review with claims expenses (gross) of about N28.93 billion in 2021, representing 37 per cent increase from N21.18 billion reported in 2020.

The Non-life Business segment of Axa Mansard Insurance contributed 47.03 per cent or N28.31 billion of its gross premium written in 2021, while Life business added 15.4 per cent or N9.24 billion to its gross premium written. In addition Insurance segment in 2021 contributed 62.4 per cent or N37.55 billion, while Health maintenance added 38 per cent or N23.01 billion to gross premium written in 2021 financial year. The group closed 2021 financial with Gross premium income of about N55.72 billion, representing 22.4 per cent from N45.5 billion in 2021, while Reinsurance expenses rose by 35 per cent to N18.58 billion in 2021 from N13.8 billion in 2020. The interplay between gross premium income and reinsurance expenses positioned the group’s Net premium income to N37.14 billion in 2021 from N31.72 billion in 2020. With the growing claims expenses (gross), the insurance company in 2021 reported Netunderwriting expenses of about N29.77 billion, representing an increase of 15 per cent from N25.94 billion reported in 2020. The group reported 23.3 per cent increase in operating expenses to N9.3billion in 2021 from N7.56 billion in 2020, driven by 28 per cent increase in employee benefit expense that moved from N2.9 billion in 2020 to N3.37 billion in 2021. The increase in total operating expenses dragged Axa Mansard Insurance operating income to N6.07 billion in 2021, representing a decline of 11 per cent from N6.82 billion reported in 2020. In 2021, the company paid N2.05billion in tax expenses, an increase of 33.3 per cent from N1.54billion in 2020. From the profit & loss position, Axa Mansard Insurance closed 2021 with Earning Per Share of N0.35 from N0.53 kobo per share in 2020 financial year.

Q1 2022 MIRRORS PRIOR YEAR’S PERFORMANCE

The company performance in first quarter ended March 31, 2022 reflected prior’s year outcome when profit before tax and profit after tax dropped by 84 per cent and 85per cent respectively. Axa Mansard Insurance saw its profit before tax dropping significantly to N470 million in Q1 2022 from N2.92 billion in Q1 2021, while profit after Tax was at N390 million in Q1 2022 from N2.63 billion in Q1 2021. The decline in profits is a also a reflection of 31 per cent increase in claim expenses (gross) to N8.43 billion in Q1 2022 from N6.42 billion in Q1 2021. The company reported 14 per cent increase in gross written premium to N28.64 billion in Q1 2022 from N25.08 bn in Q1 2021, while Net premium income closed Q1 2022 at N111.57 billion representing an increase of 39 per cent from N8.34 billion in reported in Q1 2021. Axa Mansard Insurance saw its Investment and Other Income dropped by 25 per cent to N1.23 billion in Q1 2022 from N1.64 billion in the first quarter of 2021.

FINANCIAL POSITION STAYS STRONG

Statement of financial position highlights showed total assets of N118.52 billion as of March 31, 2022, up 14 per cent from N104.06 billion in 2021. The group reported insurance liabilities of N50.91 billion, up 38 per cent as of March 31, 2022 from N36.93 billion reported in 2021, while group shareholders’ funds stood at N31.54 billion, up five per cent from N30.07 billion as of December 2021 AXA Mansard’s financials at the end of the first quarter (Q1) of 2022, the Chief Executive Officer, AXA Mansard Insurance, Mr. Kunle

Ahmed in a statement said “We have begun the fiscal year 2022 on a solid footing, although we recorded a temporary setback on PBT despite growing revenue by double digit, this reflects the macroeconomic uncertainties that continue to plague our business environment. “The fundamentals of our business remain strong, and we remain optimistic that, with the support of our partners, we will deliver on our growth numbers on revenue and profitability at the end of the year.” The Chief Financial Officer, Mrs. Ngozi Ola-Israel in a statement said, “We delivered double-digit revenue growth of 14per cent year-on-year (YoY) from N25.07 billion to N28.64 billion and 39 per cent year-on-year net income growth from N8.34 billion to N11.57 billion in the first quarter despite a challenging macroeconomic environment. “We grew our Life and Health businesses by 58 per cent and 24 per cent respectively whilst our P & C business dipped 5 per cent as a result of large unrenewable business written in 2021 and deliberate careful selection of risk in 2022. “The decline of 84 per cent and 85 per cent respectively in the PBT and PAT is largely driven by higher claims experienced in our health portfolio coupled with fair value losses and foreign exchange losses. The core underlying earnings (excluding fair value gains/losses, capital gains/losses and foreign exchange movements) dipped by 22 per cent mainly driven by the higher claims experienced in our Health portfolio. Across all lines of businesses we continue to build necessary actuarial reserves to ensure we have a strong balance sheet. “Looking forward into the rest of the year, we remain optimistic of the value creation possibilities that exist within our business areas and with the continued support of shareholders, customers, and the dedication of staff and other key stakeholders, we will deliver excellent underwriting, investment, and operating performance as we prioritize providing value to our valued customers.”

BANKS RAISE PRIME LENDING RATE TO 11.96% ON INFLATION, HIKE IN MPR “The CBN has been extending loan facilities to key sectors of the economy and a lot of interventions are accessing these funds at single digit interest rate. The banks were forced to reduce interest rate in order to remain relevant in their major core business of lending to the real sector.” He said that the gap between saving and lending rates is massive, stressing that the CBN management have expressed concerns. Commenting on increase in deposit rate, he said that the hike in deposit rate is meant to attract deposits and remain competitive. It is the competition that is pushing up interest on deposits in the banking sector.” The CBN Governor, Mr. Godwin Emefiele had recently admitted that

the hike in MPR would increase cost of borrowing, especially in non-priority sectors of the economy. Emefiele, however added that lending to key priority sectors, which had been identified to boost growth and generate employment, would remain at a single-digit interest rate of nine per cent. He pointed out that the decision to raise interest rate was the last resort and a difficult one for the MPC, which had been crafting policies to stimulate economic growth as well as achieve financial stability. He said the CBN had adopted a contractionary monetary policy stance in view of the aggressive rise in inflation in recent times, which had led to high food and commodity prices in the country. Emefiele noted that CBN’s action

was aimed at curbing inflation, on the one hand, and supporting growth of the economy, on the other. He said the MPC was in a dilemma in arriving at a decision to raise the lending rate. As a result, the apex bank governor explained, a drastic measure such as raising the benchmark lending rate was required to reduce monetary expansion in order to tame inflation. He assured that though inflation was expected to maintain an aggressive acceleration in the coming months, the central bank would not hesitate to return to its accommodative stance whenever it saw a reduction in the headline index. Emefiele said, “The concerns about the global rise in inflation

and price levels; you all would have seen that the price of crude quite unexpectedly has been above $100 per barrel. In fact, Nigeria’s Bonny light yesterday, when we started the meeting, was about $116 per barrel. “What this means is that the standard pricing indicator; yes, whereas crude prices have gone up per barrel, at the same time the cost of refining and ultimate pump price at the station would naturally have gone up.” He added, “For us in Nigeria, you would have observed that in the last two and a half years, what we have been doing is that we want to pursue a policy of price stability that is conducive to growth and that’s why somehow we have used our development finance

intervention facilities, we have actually yielded positive results and helped to drive growth in our economy. “We’ve used that to drive growth while at the same time we try as much as possible to maintain a hold position while looking at the optimum level of liquidity in the industry to be able to moderate inflation at a level that does not hurt the growth and economy of our country. “But with what we have seen globally either in the areas of the supply chain, increases in prices of petroleum products, and the rest of them, we have seen aggressive growth in inflation in Nigeria between March and April of 2022. “And the forecast from our statisticians, including the NBS and

CBN as well as our colleagues in research and monetary policy, is that unless something drastic or significant actions are taken, it will be difficult for us to really rein in inflation if we don’t do something immediately. “This decision has been taken because we felt that there may continue in the next couple of months to be an aggressive acceleration in inflation and we think there is a need to take some drastic actions to reverse it. “If we are able to see a reversal, perhaps, we can say we are returning to what we can call the normal period, when we are looking at using CRR to moderate inflation and at the same time using our development finance to really push for growth.”

will help to drive economic growth and mobilise capital from sectors of surplus to deficit,” Popoola, in January 2022 said. He added that the NGX would also accelerate the digitisation of its processes and operations to attract more investors, especially the

millennials and youths, who are increasingly turning to alternative investment options. He said NGX would work to integrate the market to digital banks and other transactional channels in order to make the market a viable and accessible investment option.

NGX LISTS N1.08TRN NEW ISSUANCES, $4BN EUROBONDS IN H1 2022 exchange will continue to mobilize long-term savings to finance longterm investment by providing risk capital in the form of equity or quasi-equity to entrepreneurs, a role NGX continues to prioritize,” he said. It will be recalled that the NGX

earlier in the year highlighted five major focus areas in 2022 in its efforts to deepen access and attract new generation of investors to the market. Popoola had said the NGX would seek to consolidate its historic status with a new verve of

digitisation by creating innovative and automated access to the market while ensuring overall quality of listed companies and ease of capital raising process. According to him, The Exchange would deploy strategic initiatives to attract financial technology (Fintech)

firms to the stock market, including launching of a Nasdaq-style board for the listing of tech companies. “Today, there are lots of capital raising from tech companies globally. Our market can be a source to raise this capital. SEC has already taken the leadership. It

MONDAY, JULY 11, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

SON: Strict Adherence to Standards Vital for Nigeria’s Global Competitiveness Nosa Elekhuogie The Standards Organisation of Nigeria (SON) has urged local producers and importers to adhere strictly to standards to boost economic growth. The Director General of SON, Malam Farouk Salim, stated this at the flagging off of a campaign tagged, “Standardisation; Panacea for economic growth,” held in Enugu. The SON boss said that adhering strictly to standardisation and quality assurance would make Nigerian products and services more acceptable at the international market. Salim, who was represented by the Director South-East Operations

of SON, Mr Fred Akingbesote, noted that when all products and services conform to standards, the country and her people would benefit tremendously from it. The SON boss said standardisation would also lead to cost reduction, less effort on production, strengthen brands and make it convenient and easy for customers to recognise and pick quality products and services. “If you see any product with SONCAP certification logo, rest assured that you have got a product with quality and satisfaction guaranteed. It provides a company with a competitive edge in the market. Manufacturers and service providers need to ensure that their products and services meet the

right specifications and deliver on their customers’ expectations. “When a company assesses its products and services in accordance with relevant standards, this helps the company to adapt to the latest market trends regarding quality. And avoid the costs related to product returns, buyer complaints, and loss of goodwill in local, regional, and international markets, “he said. Earlier, the Senior Special Assistant (SSA) to the SON DG, Chief Duru Emeka, who doubles as coordinator of the sensitisation, said it was part of the agency efforts to take culture of standardisation to the grassroots. “Once the people in rural areas imbibed standardisation as a way

of life, the fight against influx of substandard products is almost won. We need collaborative efforts to tackle the menace,” he said. Duru said Nigerian products were produced in line with international best practices and enjoy global competitiveness in line with the organisation’s quality infrastructure strategy under the able leadership of Mallam Farouk Salim. The Permanent Secretary, Enugu State Ministry of Commerce and Industry, Dr Godwin Anigbo, urged SON to extend its services to the grassroots by creating more awareness on standardisation of products and services. Deputy Director of National Orientation Agency (NOA) in

Enugu State, Mr Felix Odoh said that SON could leverage on the spread of NOA officials scattered in the 774 council areas to reach Nigerians even in their localities. “This sensitisation and enlightenment should go beyond here and get more Nigerians, especially the people at the grassroots to know the standard for all they produce at their localities,” Odoh said. A consumer, Mrs Vivian Offor, said that the sensitisation would make more meaning if those at the local areas, whose extract raw materials add value to them could achieve quality standardisation. Earlier, the Managing Director of Enugu State Investment Development Authority, Dr

Sam Ogbu-Nwobodo, lauded SON for its consistence on its engagement of Nigerians to do the right thing and reposition the country’s economy. “The issue of standardisation is important and it will be helpful to everybody and we must key into it. ”This is the only way to ensure we grow our economy and ensure conformity of our products and services,” Ogbu-Nwobodo said. An Enugu-based manufacturer, Sir Eric Chime, noted that manufacturers and SON were both partners in progress, adding that SON had continued to ensure Nigerian products met international standard and acceptability.

Nigerian Breweries Market Capitalisation Hits N459.12bn Kayode Tokede

COURTESY VISIT…

CEO of Binance, Changpeng Zhao (left) with the President of Senegal, Macky Sall, during Zhao’s visit to West Africa… recently

With an additional listing of 145,075,002 units shares arising from 2021 scrip dividend election scheme, Nigerian Breweries Plc has crossed N450 billion in in market capitalisation. The listing pushed NB to N459.12 billion in market capitalisation to become 10th most capitalised listed company on the Nigerian Exchange Limited (NGX) and most capitalised beverages--brewers/ distillers company. The company had proposed for shareholders’ approval, the Share for Cash Dividend Election Scheme; a scheme that will allow shareholders to convert final cash dividends to new ordinary shares. The Exchange in a statement said, “Trading License Holders are hereby notified that additional 145,074,002 ordinary shares of 50 kobo each of Nigerian Breweries were on, listed on the Daily Official List of the NGX. “The additional shares listed on NGX arose from Nigerian Breweries’ Scrip Dividend Election Scheme. With this listing of the additional 145,074,002 ordinary shares, the

total issued and fully paid up shares of Nigerian Breweries Plc has now increased from 8,075,831,900 to 8,220,905,902 ordinary shares of 50 kobo each.” The part of resolutions passed at the international breweries 76th Annual General Meeting (AGM) was, “That shareholders entitled to receive cash dividends in respect of the financial year ended 31st December 2021, be offered a right of election to receive ordinary shares in the company instead of cash dividends, and that such New Ordinary Shares be credited as fully paid, which, when issued, shall rank Pari Passau in all respects with the company’s existing ordinary shares. “That the election to receive ordinary shares instead of cash dividends should have been exercised on or before the 12th of April, 2022; The New Ordinary Shares to be received by shareholders shall be determined by their cash dividend entitlements divided by a Reference Share Price, which Reference Share Price shall be the 10-day average (starting on the 10th of March, 2021) of the Company’s closing share price on the floor of The NGX.”

NYSC Urges Corps Members to Acquire Skills Calabar Chamber of Commerce Commends NPA Management

Onuminya Innocent In Sokoto

The Director General of National Youth Service Corp (NYSC) Brig General Muhammad Fadah said today’s economy is more of skills-based, that is not just white or yellow collar jobs. Fadah represented by the coordinator of NYSC Sokoto state Alhaji Muhammad Nakamba stated this at the event where a total of 101 outgoing Batch B, Stream 2,

corps members that participated in various Skills, Aquisition and Entrepreneurship Development (SAED) at post camp training received their certificates at a joint graduation ceremony in Sokoto. The event which was organized by SAED department of NYSC sokoto, Fadah urged the outgoing corps members to utilize the skills learnt during the service year to enable them be self reliance. In his remark, the state coordinator Muhammad

Nakamba speaking through the Assistant Director in charge of SAED Fagge Garba charged the graduating corps members to take the skills they aquired seriously as, white colour Jobs are not really available stressing that the NYSC management in their wisdom came up with SAED programmes in 2012 so that after the service year they will be self employed. On his part the guest speaker, Dr shadi, challenged the corps members to be wealth creators by using the skills they

learnt to set up business that will sustain them and also employ others Fagge further explained the reasons behind the joint graduation, which he said is aimed at evaluating Corps members’ response to post camp training, He noted that the outgoing corps members are opportune to take loans from SAED funding partners such as Nirsal micro finance Bank, Bank of industries,(BOI,) Central Bank of Nigeria (CBN).

SATH Seeks Improved Infrastructure Devt for Enterprise Tech Gilbert Ekugbe Signal Alliance Technology Holding (SATH) has stated that Nigeria lacks the critical infrastructure for enterprise technology to thrive. The Chairman, SATH, Mr. Collins Onuegbu, explained that the federal government must prioritise investment decisions to build the critical infrastructure that Nigeria would ride on for enterprise technology to achieve its full potentials in transforming the country’s economic narrative. “We have to build the infrastructure that Nigeria

needs to develop on and part of that infrastructure is around enterprise. We cannot wish it away otherwise, we run into problems. We need to build the systems that the large corporations will use,” he added. At a press briefing to celebrate its transition into a Holding Company, he said the tech industry is fast evolving, urging tech companies to take advantage of the opportunities in the tech sector. “What we have done in the past one year is break the company into three entities. We are not doing anything

different, we are just breaking the companies and for the past one year, we have tried to stabilise the companies by building the brands and also getting them to work,” he said. The General Manager of one of the subsidiaries, Cloudsa, Mrs Busola Komolafe, pointed out services they offer that SMEs can leverage on and the importance of migrating to the cloud. The General Manager, SAS Ware, Chuck’s Nwafor, also pointed out its growing portfolio of tech start-ups and early stage companies in health tech and fin tech the subsidiary has supported

so far, saying that these tech start-ups are still thriving. Kenneth Ufomba reinstated that his subsidiary; Signal Alliance Consulting is equipped to provide value and technology support to different sectors of the economy, especially enterprise solutions hat will arise in the future. The general managers of the different subsidiaries who were in attendance, acknowledged the importance of technology in every aspect of the economy and how they have positioned their subsidiaries for the future that Technology holds.

The Calabar Chamber of Commerce, Industry, Mines and Agriculture (CALCCIMA) has commended the efforts of the Mohammed Bello Koko led management of the Nigerian Ports Authority (NPA) towards advancing the fortunes of Calabar Port. This was made known by the Vice President of CALCIMMA and Team lead of Calabar and Gulf of Guinea Municipal and Trade Centre Ltd/Gte (C-GoGMTC), Mr David O. Etim during the Calabar Port stakeholders meeting with NPA management on Saturday in Calabar. Speaking earlier, the Managing Director NPA, Mohammed Bello Koko said “The proximity of Calabar Port to the neighboring countries of Cameroon, Gabon, Equitorial Guinea and Cape Verde is a strategic asset to our trade facilitation efforts especially as it positions us to optimize the inherent benefits of the African Continental Free Trade Area (AfCFTA) Agreement. Also important is the fact that Calabar Port

being the nearest to about 16 Northern states supports our quest for seamless porthinterland connectivity”. Koko had earlier drawn attention of the audience to the collaborative engagements the NPA had already established with the Ports of Cameroon which is geared towards formalizing and earning revenues from the passenger boat operations which had been running on an informal basis for so long. The boss paid a courtesy visit to the palace of His Eminence Edidem Ekpo OKoh Abasi Otu V, the Obong of Calabar, where he solicited and got the endorsement of the reverred monarch for the protection of the Authority’s assets such as navigational aids etc that are usually carted away or vandalized. Koko assured the Obong and the good people of Cross Rivers State that, “in keeping with the drive of President Muhammadu Buhari to diversify the economy from oil to non-oil,we will not let the potential of Calabar as rich corridor for export go untapped.”

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See page 28 DAVID VERSUS RENO: AND THE LOSER IS … We should be careful not to lose ourselves this election season, urges AYODELE OKUNFOLAMI See page 28 UNDERSTANDING THE CHOICE OF OKOWA AS ATIKU’S RUNNING MATE Ifeanyi Okowa is fit and proper to work as Atiku’s Vice President, writes PHRANK SHAIBU See page 29 STEERING NIGERIA’S LOWLY FROM POVERTY CHUKWUDI ENEKWECHI writes that the National Social Investment Programme has ameliorated the burdens of the poor See page 29

EDITORIAL SHINZO ABE (1954-2022)

See page 30

& RE A S O

opinion@thisdaylive.com

www.thisdaylive.com

RE-ROUTING NIGERIA’S ECONOMIC VOYAGE TO SRI LANKA Sri-Lanka holds lessons for Nigeria, writes ISIDORE EMEKA UZOATU

UT H

It is large, significant, and too relevant to be ignored, writes TIMI OLUBIYI

THE INFORMAL ECONOMY IN NIGERIA The term “informal economy” covers a vast array of circumstances and events throughout the country. In contrast, working in the informal economy(IE) is IUHTXHQWO\ EDVHG RQ VPDOO RU XQGHÀQHG workplaces, unsafe and unhealthy working conditions, unregulated, low levels of skills and productivity, low or irregular incomes, long working hours, and a lack of access to LQIRUPDWLRQ PDUNHWV ÀQDQFLQJ WUDLQLQJ and technology. Informal activities are those that occur outside of the legal framework and the government regulation. The informal economy can be viewed as either the nature of the enterprise’s operations or the nature of its employee relationships. Consequently, millions of Nigerians, particularly those residing in the economic centre of the country, Lagos State, live, work, and trade in the informal sector and also employ the most vulnerable residents. In terms of employment and output, the informal sector in Nigeria is larger than the formal sector in terms of employment and job creation, according to contextual observations. In certain instances, the informal economy is referred to as a “shadow economy” if it is involved with unlawful and criminal activities such as online scams, black markets, crime, manufacture and smuggling of illegal items, or money laundering. One thing is certain regarding the informal economy: informality provides crucial economic possibilities for the poor and disadvantaged. According to the International Monetary Fund, the informal economy employs approximately 5.5 million people in Lagos State alone—roughly three-quarters of the state’s 7.5 million labour force—and in the country as a whole, with nearly 200 million people, over 80 percent of the population works in the informal sector (IMF). Given the labour intensity, there is little doubt that the bulk of businesses and entrepreneurs are in the informal sector. Unlike the formal economy, the informal economy’s operations are not included in the country’s Gross Domestic Product (GDP). As a result, WKH *'3 ÀJXUH FRPSXWDWLRQ LV D VLJQLÀFDQW underestimate of the country’s GDP when the massive informal economy is excluded. Meanwhile, the country’s informal sector FRQWLQXHV WR ÁRXULVK LQ YDULRXV VLWXDWLRQV and, based on demographic and economic data, may be the biggest in Africa. Agreeably, across the country, it is easy to notice street traders, artisans, vendors, nano and micro-businesses, commercial buses, tricycles, and motorbikes (Okada riders), domestic workers, market traders, among others, all operating informally. Broadly speaking, you can easily see

informality all around the country. In the country, the informal economy has grown dramatically over the last two decades, with the root causes including elements related to the country’s economic context; decreasing levels of market regulation; weak policy frameworks; and socio-demographic drivers such as population growth, urbanisation, rising unemployment, widening inequality between rich and poor; and low-level education, including poverty. The major driver of the informal economy, on the other hand, is that such enterprises do not need to register with any relevant government authorities. :KHQ FLWL]HQV FDQQRW ÀQG MRE LQ traditional wage employment, the requirement for sustenance forces them to look for labour elsewhere. The alternative is mainly in the informal sector of the economy, where there is no minimum wage and workers are unlikely to pay taxes, have no holiday or labour rights, and frequently work in unsafe conditions. Most RI WKH WLPH LW LV GL΀FXOW IRU WKHP WR REWDLQ microcredit since they lack economic stability and concrete employer-employee ties. In the middle of all of this, it merely provides a footing for survival for the most vulnerable and frequently ignored Nigerians. The majority of the elite view the enlarged and vast informal economy to be at the bottom rung of the economic system, whereas in fact, they are the key drivers of the economic system because WKH\ DUH WRR ODUJH VLJQLÀFDQW DQG UHOHYDQW to be ignored. For example, it is unclear whether the country has reliable data on the National Union of Road Transport Workers (NURTW) activities or the volume of transactions in Ladipo auto spare parts market in Oshodi, Lagos State, and the popular computer village in Ikeja, Lagos State, Balogun Market, and

Clearly, there is a need for the government to embark on a series of measures, interventions, and support to encourage the formalisation of these businesses to sustain economic growth and development

Alaba International Market, to name a few. This sector of the economy is notably VLJQLÀFDQW LQ 1LJHULD \HW LW LV QRW VXEMHFW WR comprehensive government controls. Meanwhile, employment in the industry is appealing owing to the simplicity with which operations are carried out as a consequence of the absence of a bureaucratic regulatory framework and OLWWOH RU QR IRUPDO HGXFDWLRQDO TXDOLÀFDWLRQ requirements. There are multiple perspectives on the informal economy. Some associate it with unfair competition, low productivity, human rights abuses, and environmental degradation, while others associate it with entrepreneurship, ÁH[LELOLW\ DQG UHVLOLHQFH 2YHUDOO WKH informal economy is enduring, but suitable regulations and policies are required to improve the sector and introduce formalization. The decision for these businesses to formalise depends on the EHQHÀWV WKDW DUH GHULYHG IURP IRUPDOLVDWLRQ over the risks of remaining in the informal economy. If the former outweighs the latter, only then does formalisation seem like a viable option to the operators. Clearly, there is a need for the government to embark on a series of measures, interventions, and support to encourage the formalisation of these businesses to sustain economic growth and development. As mentioned earlier, this informal sector is too large and LPSRUWDQW WR EH LJQRUHG $ FRQFHUWHG HͿRUW to identify and protect them is crucial for sustainability and economic development because huge potential tax revenue is lost yearly to this informality. In recent times, the consequences of novel coronavirus (COVID19) pandemic, LQÁDWLRQDU\ SUHVVXUHV LQVX΀FLHQW electricity, high fuel cost have negatively impacted these informal businesses greatly. In this context, careful attention must be paid to the informal economy, and policy solutions need to be in place to encourage and induce formalization. Besides, the International Monetary Fund (IMF) is urging national statistical agencies to gather information on the informal economy to help in policy formulations and to gather reliable data for economic planning. Therefore, government may wish to KDYH PDVV UHJLVWUDWLRQ DQG LGHQWLÀFDWLRQ and equally reach out to them through social interventions and palliative care. 7KHVH VXJJHVWLRQV LI H΀FLHQWO\ FRQVLGHUHG might, in turn, reduce the size of the informality in in the country. Dr. Olubiyi is an Entrepreneurship and Business Management expert.

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MONDAY JULY 11, 2022

Sri-Lanka holds lessons for Nigeria, writes ISIDORE EMEKA UZOATU

RE-ROUTING NIGERIA’S ECONOMIC VOYAGE TO SRI LANKA Whoever thought the 16-year reign of the People’s Democratic Party (PDP) would ever be recalled with nostalgia. Truth be told, it was that bad then. So, sans sentiment, the takeover of power from them in 2015 by the All Progressives Congress (APC) raised hopes to the high heavens. :KDW ZLWK WKH IRQG SURPLVHV ÁRDWHG E\ the latter as they campaigned themselves from opposition to power. Top of the table remains the equalisation of the Naira and the Dollar. Not unlike Fela Kuti had visited upon the pant and the trouser in an evergreen song so well cherished by all and sundry. Being ever dependent on importation, the Dollar had us on a bear hug so tight that the mere thought of the possibility elicited frissons close to orgasm. As prominent in the avalanche also was the repair of old, and construction RI QHZ UHÀQHULHV /LNH SURVSHFWHG WKLV will see petroleum products sold at the lowest possible prices in the northern and southern hemispheres of the world. They even boasted the number of these crude oil value-chain drivers they’d put in place per annum! To cut the story short, the truth remains that neither these - nor all their umpteen other promises - have been achieved these seven years on. So much too that in presentday Nigeria it’s only a few compromised GHQL]HQV WKDW FDQ VWLOO DͿRUG WR KRSH let alone dream. Like in the rock/blues standard laid by Eric Clapton, we are all ‘running on faith’ and ‘talking in our sleep’ instead. O yes. Mostly on account of the nonattainment of those lofty campaign promises, most citizens have been overcome by inertia. A situation neither helped nor encouraged by the situation the country’s economy has been deposited in ever since. Without mince, the ordeal has endured for as long as the regime’s tenure has lingered. Like a critic has averred, it appears as though the government in power were the protagonists in that secondary school novel One Week One Trouble by Anezi Okoro. It’s that scary, to say the least. How indeed can anyone still caught within the sleeping giant’s borders dream? Certainly not when it now spends 96 percent of its income to service debts. At the last check, it stood at more than a whopping N40 trillion. 0RVWO\ DWWUDFWHG WR ÀQDQFH RXU VWDJJHULQJ LQIUDVWUXFWXUH GHÀFLW LW QRZ KDQJV RYHU RXU heads like once upon Damocles’ in classical times. The government’s economic team should have known better. After all, according to the World Bank, it’d take $10 billion annually for 10 consecutive years to balance the JDSSLQJ GHÀFLW $QG E\ DELGLQJ SURMHFWLRQV LW·OO RQO\ WDNH D PDWWHU RI \HDUV ÀYH DW WKH most - for the principal to start gulping all our earnings. Of course, the outcome is most worrisome because oil, our erstwhile much ballyhooed cash cow, has taken a back seat. For months now, the NNPC has had to spend all its earnings on the payment of subsidies. And according to much censored reports, there is much more to it than confronts the naked eyes. For instance, it’s rumoured WKDW WKH FRXQWU\ HYHQ ÀQGV LW GL΀FXOW WR PHHW LWV 23(& TXRWD IURP WKH IHZ RͿVKRUH terminals still in operation.

And this only when the rampaging, high-calibre cases of crude theft are let lie. An encumbrance that has reportedly seen vast quantities of the product repeatedly V\SKRQHG RͿ EHWZHHQ VRXUFH DQG YHVVHO loading points. Laying concrete credence to the speculation of our coastal shores being the only veritable venue for black market crude transactions in the world. Yet, like has played out, that side of the swindle pales somewhat when other indices come into play. Like when attention shifts WR WKH LPSRUWDWLRQ RI ÀQLVKHG SURGXFWV Against all expectations, that has become our bane since the entirety of our local UHÀQHULHV SDFNHG RU ZHUH PDGH WR SDFN up. As inferred ab initio, it was a strong point in the ruling party’s propaganda blitzkrieg during their takeover of power bid. In fact, as the new government set up, the kite WKH\ ÁHZ IRUWK ZDV WKDW WKH VXEVLG\ WKHLU predecessors said they were paying to make products accessible was a fraud. However, like it has turned out, to call what they now spend on it scandalous would amount to the canonization of preceding ‘clueless fraudsters’ they swapped positions with. Today the scenario has reached something akin to a critical mass. With the return of fuel queues hither and thither, the problem has come clear. In the worst cases even the already-subsidised components kerosene and AGO - have virtually driven SMEs underground. The aviation fuel sector has only thrived following their quick intervention lest they lost their favourite means of locomotion. The much-touted excuse of the Covid pandemic and the Russia-Ukraine war withstanding, the people are at a loss for explanations. After all, their disadvantages DSDUW WKH\ DOVR GR SURͿHU VRPH DGYDQWDJHV After all, with Russian gas in retreat, we KDYH SXUSRUWHGO\ VWHSSHG LQ WR ÀOO WKH JDS And at last oil prices are on the up. Unless the cheap price of crude under which they had been hiding since they assumed power was also one of information minister Alhaji /DL 0RKDPPHG·V VWRFN LQ WUDGH ÀEV Well, all the foregoing would not have been brought to the fore but for the recent developments in Sri Lanka. Like reported, a chain reaction of factors in their petroleum industry has led to a moratorium being placed on their sale. According to the trending dispatches, petrol sales in the beleaguered country will be rationed for two weeks. The aim, by them, being to save petrol and diesel for emergencies. It came about following a severe dip in their fuel reserves. Supplies were rumoured to be barely enough for one more day. Sadly, it’s certainly impossible to reroute this drift in the little time lag remaining in the present regime’s tenure. Therefore, this clarion call should be of more concern to those presently angling to take over from them in 2023. This is so they can better avoid the shellshock it’ll become if they come unprepared like their predecessors. Uzoatu, the author of Vision Impossible (Lagos: New Gong, 2006) writes from Onitsha, Anambra State

We should be careful not to lose ourselves this election season, urges AYODELE OKUNFOLAMI

DAVID VERSUS RENO: AND THE LOSER IS … Showdown is twitter where they have a combined following of over two million. On the right corner, weighing 77kg and VWDQGLQJ ÀYH IHHW DQG LQFKHV LV D ODZ\HU aged 48, author of half a dozen books, selfacclaimed table shaker, and ever ready to tackle anybody on cyber space is the one and only Reno Omokri. Reno doesn’t shy away from controversial issues be they political, religious, social, or cultural. He never sits on the fence and makes his position known to all. On the opposing corner is a much younger opponent. Aged 32, investigative journalist and author of books that have confronted and uncovered the principalities of Nigeria. In addition to his activism, KH KDV WKLV GD\ SXEOLFO\ LGHQWLÀHG WKH presidential candidate he supports like his older challenger. Having served as aide to former President Goodluck Jonathan, Reno has been more inclined to the Peoples Democratic Party and had openly stated his support for Atiku Abubakar months before the primaries. He had even gone as far as telling Peter Obi to step down his ambition for a repeat joint ticket with Atiku in 2023. But Obi left PDP for the Labour Party. Reno criticised the move and the battleline against Obi-dients was drawn. It was in one of the many twitter back-and-forths that Reno described Obidients as online bullies who told him that if he didn’t shut up they would get David Hundeyin to expose him. Which Reno took as an “exposure challenge”. David, who has a history of boxing above his weight like his Biblical sake, took up the challenge, counterpunching with well worded threaded tweets enough to reduced anybody to size. This got David’s corner excited as his rebuttal with Reno went viral. The Obi-dients had seen a champion to match Reno’s defying and ravenous rants. I doubt if there is a more exciting social media community than Nigeria’s. From skits that now outnumber skit makers to gossips to crowdfunding. These youthful QHWL]HQV NQRFNHG RͿ WKH WDJ RI EHLQJ interested only in entertainment and not governance and politics when they shock the world with #EndSARS. They have carried this momentum into supporting their various candidates leading to next year’s presidential election. They are ObiGHQW $WLNXODWHG %DWLÀHG .ZDQNZDVL\\DQ DQG GLͿHUHQW RWKHU GHPRQ\PV 7KH\ ZDQW to prove that their demography cannot be overlooked or taken for granted and that they are the structure that will enthrone the next president. As encouraging as this, I took my gaze RͿ WKH ULQJ ZKHUH WKH WZR JRDWHHG SXJLOLVWV were slugging it out, to the ringside and further into the excited watchers as they retweeted Reno and David’s gbas gbos. I paused. Looked into the ring again. Both Reno and David are privileged. Schooled in the best of Nigerian schools, graduated from UK universities, comfortably living abroad and won’t vote next year yet giving victims of ASUU strike project topic to develop back home. Reno and David would enter timepredictable public transport from one end of UK to another at any time of the day or night without praying for journey

mercies but the youths taking sides on Whatsapp will speak in tongues and FRXQW WKH URVDULHV IURP Z̹OH WR V̹NDO̥ in intercity commuting. Reno and David have unlimited Wi-Fi everywhere for free. Enter public bus or train, free and unlimited. Enter library, free and unlimited. Enter shopping mall, free

and unlimited. Whereas the Nigerian pays 10 times what Indians pay for internet services and keeps wondering what he pressed that he has 200mb left. Reno is raising his children where light doesn’t blink, the young Nigerian parent JUXPEOHV EHFDXVH KLV EDE\·V ÀUVW ZRUG was “NEPA” and not “Dada”. As much as we cannot fold our hands and lose our nation to the hawks that have mismanaged our collective patrimony, we should be careful not to lose ourselves this election season. There is life after the polls and we should be mindful not to create enemies. We should not look at those not supporting our candidates as unpatriotic, primitive or wanting to maintain the old order. If our preferred doesn’t win, we should not assume the collective choice of the majority was a mistake, attempt to GHOHJLWLPL]H WKH ZLQQHU RU WKDW ´VXͿHU neva tire us”. Let us stop all this toxicity. Truth is that politics like love and religion, is illogical. How would you explain admired democracies like France where a centrist president was voted and in a space of a fortnight, the same electorate voted in extreme right and left legislators handicapping the same president they voted for? Or is it in America where the same pro-life divide is overruling half a century abortion rights yet upholding rights to own guns that keep killing hundreds. Or is it in the UK where the ruling party is losing SXEOLF FRQÀGHQFH DQG VXͿHULQJ E\ elections that could mean bye to their parliamentary majority, yet that same party is voting to keep its leadership whose misbehaviour is the cause of everything. Life’s choices are not black and white. They are not even grey; they are often all black options, and a choice must be made. Ayodele Okunfolami Festac, Lagos

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T H I S D AY MONDAY JULY 11, 2022

Ifeanyi Okowa is fit and proper to work as Atiku’s Vice President, writes PHRANK SHAIBU

UNDERSTANDING THE CHOICE OF OKOWA AS ATIKU’S RUNNING MATE Political jobbers and war hawks are back RQ WKH VZLQJ 0DQ\ SHRSOH KDG KRSHG WKDW with the choice of the debonair Governor RI 'HOWD 6WDWH 'U ,IHDQ\L $UWKXU 2NRZD DV :D]LULQ $WLNX $EXEDNDU·V UXQQLQJ PDWH the party was set for a smooth ride to the YLOOD ZLWKRXW DQ\ WXUEXOHQFH +RZHYHU the reports in the media purporting *RYHUQRU 1\HVRP :LNH·V URPDQFH ZLWK the ruling party suggest the presence of ÀIWK FROXPQLVWV LQ WKH 3'3 EHQW WR WKURZLQJ VSDQQHUV LQ WKH ZRUNV In a way, Thisday Newspaper’s lead story

of Friday, July 1, 2022 hinting of a possible alignment between APC’s Presidential Candidate, Asiwaju Bola Ahmed Tinubu DQG :LNH KDV FRQÀUPHG WKH SRWHQF\ RI D VHOI IXOÀOOLQJ SURSKHF\ ï WKDW WKRVH ZKR do not mean the party well would foment FULVLV IROORZLQJ WKH FKRLFH RI 2NRZD RYHU :LNH 7KHUHIRUH LW LV LQ WKH LQWHUHVW RI DOO of us (lovers of Nigeria) that the ensuing GUDPD LV FRQWDLQHG $QG ZHOO FRQWDLQHG WRR Many of us were so shocked for words ZKHQ RQ :HGQHVGD\ WKH *RYHUQRU RI %HQXH 6WDWH 6DPXHO 2UWRP IDXOWHG WKH SURFHVV WKDW OHG WR WKH FKRLFH RI 2NRZD alluding that the “widening cracks” in the party posed a threat to Atiku’s presidential DPELWLRQ ,I 2UWRP·V GRRPVGD\ SURSKHV\ VRXQGHG like a bad joke, then all I could think of WKH 7+,6'$< UHSRUW RI :LNH·V URPDQFH with Tinubu was Samuel Beckett and his WKHDWUH RI WKH DEVXUG , DP VXUH WKDW HYHQ Beckett would have been so confounded E\ WKH VFULSW LVVXLQJ IURP *RYHUQRU :LNH whom Vice President Atiku Abubakar has WUHPHQGRXV UHVSHFW IRU But as said above, this is one phase in the chain of events leading to VP Atiku’s DVFHQGHQF\ WR WKH QDWLRQ·V KLJKHVW R΀FH WKDW KDV EHHQ ZHOO IRUHWROG , EHORQJ WR WKH Atiku campaign inner circle and at least six out of every 10 key movers and shakers I spoke to told me that an Atiku presidency is a done deal and the current turbulence in the party is at best a bargaining power play E\ VRPH OHDGHUV WR VHFXUH FRPIRUW ]RQHV LQ WKH LPSHQGLQJ $WLNX DGPLQLVWUDWLRQ 7KH 3'3 WRS VKRWV WKDW , LQWHUDFWHG with gave me two interesting reasons for WKHLU FRQFOXVLRQ 2QH LV $3&·V GLVPDO performance especially in the area of insecurity currently ravaging the country and the second reason is the impending implosion within the APC because of the party’s attempt to do a Muslim-Muslim WLFNHW 7R HQVXUH WKDW WKH 3'3 WDNHV DGYDQWDJH of the looming crisis in the APC, Atiku has commenced fence mending moves with a

clear message that he remains a listening leader and would ensure that all grouses DUH DGGUHVVHG JRLQJ IRUZDUG $WLNX VDLG RQ Thursday in a series of tweets “Focus on our DFWLRQV :H DUH WDNLQJ DFWLRQ WR DGGUHVV WKH IHHOLQJV RI DOO SDUW\ PHPEHUV 7KH XQLW\ LQ RXU FRPPXQLW\ LV P\ SULRULW\ 2XU UHVROYH to unify Nigeria starts in our party and PRYHV WR WKH FRPPXQLW\ WKHQ RQ WR VRFLHW\ “Every Governor, Legislator, and other HOHFWHG R΀FLDOV SURGXFHG E\ RXU SDUW\ and party members and loyalists, are much ORYHG DQG UHVSHFWHG E\ PHµ ´:KHQ WKH\ VSHDN , OLVWHQ , GR QRW RQO\ OLVWHQ $SSURSULDWH DFWLRQV KDYH EHHQ WDNHQ are being taken, and will continue to be DGYDQFHG µ $WLNX VDLG This explanation is a forerunner to a series RI HQJDJHPHQWV WKDW ZLOO RͿHU FRQYLQFLQJ explanation as to the altruistic reasons why WKH SDUW\ SLFNHG WKH 'HOWD 6WDWH KHOPVPDQ DV UXQQLQJ PDWH WR $WLNX 7R EH VXUH WKH UHDVRQV DUH VWUDLJKW IRUZDUG 2NRZD LV widely respected among party elite and the larger political class; reason it’s easy to draw HOLWH FRQVHQVXV DURXQG KLP +H·V JHQWOH FDOP DQG FRPHV ZLWK EDUHO\ DQ\ EDJJDJH :LWK VHYHQ \HDUV RQ WKH VDGGOH DV JRYHUQRU 2NRZD KDUGO\ HYHU JUDEEHG WKH KHDGOLQHV IRU DQ\ EDG UHDVRQ 2NRZD KDV KDG DQ XQEOHPLVKHG FDUHHU LQ WKH SROLWLFV DQG SXEOLF VHUYLFH RI 'HOWD DQG DW WKH FHQWUH +H EHFDPH 6HFUHWDU\ to the Ika Local Government and later Chairman of the Ika North-East Local *RYHUQPHQW &RXQFLO ² +H ZDV 'HOWD 1RUWK &RRUGLQDWRU RI WKH *UDVVURRWV 'HPRFUDWLF 0RYHPHQW *'0 +H MRLQHG WKH 3'3 LQ DQG DVVLVWHG LQ *RYHUQRU -DPHV ,ERUL·V FDPSDLJQ LQ +H VHUYHG DV D &RPPLVVLRQHU LQ WKH 'HOWD 6WDWH government for Agriculture and Natural 5HVRXUFHV -XO\ ² $SULO :DWHU 5HVRXUFHV 'HYHORSPHQW $SULO ² 0D\ DQG +HDOWK 6HSWHPEHU ² 2FWREHU 2NRZD UHVLJQHG WR FRQWHVW LQ WKH 'HOWD 6WDWH 3'3 JRYHUQRUVKLS SULPDULHV EXW GLG QRW ZLQ WKH JRYHUQRUVKLS SULPDULHV ,Q -XQH KH ZDV DSSRLQWHG 6HFUHWDU\ WR WKH 'HOWD 6WDWH *RYHUQPHQW +H ZDV HOHFWHG 6HQDWRU UHSUHVHQWLQJ 'HOWD 1RUWK 6HQDWRULDO 'LVWULFW LQ 2NRZD ZRQ WKH 'HOWD 6WDWH Gubernatorial elections in April 2015 and was re-elected in 2019 and has demonstrated through his conduct, that governance is DERXW VHUYLFH WR WKH SHRSOH 7KH SRLQW LV ,I he did all these with patience, perseverance DQG XQFRPPRQ KXPLOLW\ WKHQ KH LV ÀW DQG SURSHU WR ZRUN DV $WLNX·V 9LFH 3UHVLGHQW $JDLQ WKH FKRLFH RI 2NRZD DV $WLNX·V UXQQLQJ PDWH LV LQ D ZD\ D IXOÀOPHQW RI ,JER TXHVW IRU SUHVLGHQF\ 2NRZD LV IURP WKH ,ND ethnic group, a subgroup of the Igbo tribe IRXQG LQ ERWK 'HOWD 6WDWH DQG (GR 6WDWH 6R it makes sense to say that his nomination answers the Igbo presidency question, since, to borrow an American metaphor, a Vice President is just a heartbeat away IURP WKH 3UHVLGHQW·V &KDLU ,W LV WKHUHIRUH XQGHUVWDQGDEOH WKDW 2NRZD·V QRPLQDWLRQ E\ WKH 3'3 LV ZHOO UHFHLYHG E\ VWDNHKROGHUV from the South-South and the South East as ZHOO Shaibu, a Publicist, writes from Abuja

CHUKWUDI ENEKWECHI writes that the National Social Investment Programme has ameliorated the burdens of the poor

STEERING NIGERIA’S LOWLY FROM POVERTY In line with President Muhammadu Buhari’s campaign promise and his overall vision to tackle the scourge of debilitating poverty in our clime, the administration had taken the battle a notch higher with the creation of the 0LQLVWU\ RI +XPDQLWDULDQ $ͿDLUV 'LVDVWHU 0DQDJHPHQW DQG 6RFLDO 'HYHORSPHQW This ministry had thenceforth rolled out several policy initiatives aimed at attaining the objectives for their existence, and ultimately reach the most vulnerable DQG SRRU SHRSOH LQ WKH VRFLHW\ These initiatives were encapsulated under one umbrella programme known as the National Social Investment Programme, which has based on its numerous interventions attained the status of the biggest social protection and poverty eradication programme to be HVWDEOLVKHG LQ WKH FRXQWU\ ,Q IDFW LW KDV been acknowledged as the most ambitious SRYHUW\ DOOHYLDWLRQ SURJUDPPH LQ $IULFD The programme was basically designed to address the immediate and long-term socio-economic needs of the poor and YXOQHUDEOH 1LJHULDQV In doing that over 20 million Nigerians KDYH EHQHÀWWHG IURP WKH SURJUDPPH since its inception, and these are HYLGHQW LQ WKH GLͿHUHQW FOXVWHUV RI WKH 1DWLRQDO 6RFLDO ,QYHVWPHQW 3URJUDPPH They are Conditional Cash Transfers, N-Power Programme, Government and Empowerment Programme (GEEP) and National Home -Grown School Feeding 3URJUDPPH The Conditional Cash Transfers programme has helped to lift many poor Nigerians out of poverty as they now own small businesses thereby improving WKHLU TXDOLW\ RI OLIH VLJQLÀFDQWO\ ZKLOH WKH National Home Grown School Feeding Programme has enabled children in primary 1-3 in government schools across the country to be fed with one nutritious meal a day, thereby improving school enrolment and reducing the much-touted number of out of school children in the FRXQWU\ Furthermore, the N-Power programme has been structured to provide job opportunities for young Nigerians, and those between ages 18 and 34 are PRVWO\ RͿHUHG VXFK RSHQLQJV WR DFTXLUH necessary skills and competencies which are improved through a work-learn entrepreneurship system that has seen over 109,000 from Batches A and B gone DKHDG WR VWDUW WKHLU RZQ EXVLQHVVHV Under the Government Enterprise and Empowerment Programme (GEEP) small business owners and farmers are provided with the opportunity to access loans through the tradermoni, marketmoni and farmermoni initiatives WR H[SDQG WKHLU EXVLQHVVHV 6X΀FH LW WR VD\ WKDW WKHVH DUH GHOLEHUDWH federal government programmes diligently designed and being executed under the Ministry of Humanitarian $ͿDLUV 'LVDVWHU 0DQDJHPHQW DQG 6RFLDO 'HYHORSPHQW DQG SULQFLSDOO\ DLPHG DW providing succour to the needy, poor and vulnerable in the society, a nd generally stimulating the economic development of WKH FRXQWU\ It is necessary to remark that the

National Social Investment Programme was established by the President Muhammadu Buhari administration in 2016 with the aim of addressing immediate and long-term socioeconomic imbalance and inequalities, alleviate poverty and stimulate DFFHOHUDWHG HFRQRPLF JURZWK LQ 1LJHULD The programme which was initially GRPLFLOHG LQ WKH R΀FH RI WKH YLFH SUHVLGHQW 3URI <HPL 2VLQEDMR ZDV ODWHU moved to the newly –created Ministry RI +XPDQLWDULDQ $ͿDLUV 'LVDVWHU 0DQDJHPHQW DQG 6RFLDO 'HYHORSPHQW Since then the ministry has taken several innovative measures to achieve the main objectives contained in the mandate of WKH SURJUDPPH 7KH\ LQFOXGH 2QH LQFUHDVH LQFRPH and improve livelihood of the poor and vulnerable households by providing access to targeted funds, thereby improving households’ ability to absorb VKRFNV 7ZR UHGXFH ,QHTXDOLWLHV DQG ZLGH GLVSDULWLHV 7KUHH LQFUHDVH DFFHVV WR education and health services, as well as empowering vulnerable sectors thereby LPSURYLQJ WKH TXDOLW\ RI OLIH LQGH[ )RXU reduce rate of youth unemployment, linking interested volunteers to DGGUHVV H[LVWLQJ JDSV )LYH HUDGLFDWH malnutrition in school age children by establishing a sustainable school feeding SURJUDPPH 6L[ SURYLGH DͿRUGDEOH credit for MSMEs thereby increasing business revenue and facilitating market OLQNDJHV 6HYHQ VWLPXODWH SURGXFWLYLW\ especially in our rural communities and bringing into visibility those who have never before been registered on any platform by capturing identities for SURSHU SODQQLQJ Even for the ardent critic of the Buhari administration, there is no doubt that these policy initiatives have impacted positively on a huge number of Nigerians especially the youths, farmers, petty traders and the most vulnerable in the VRFLHW\ :KLOH VRPH SHRSOH PD\ GHVFULEH WKH HͿRUWV RI WKH JRYHUQPHQW DV D VFUDWFK on the surface based on the population of the country, yet the point remains that it is under this administration that such bold move was initiated and a standing ministry created for the sustainability of WKH SURJUDPPH So far the National Social Investment Programme has to a large extent ameliorated the burdens of the poor among us despite the debilitating impact of the Covid-19 pandemic ZKLFK DGYHUVHO\ DͿHFWHG WKH IHGHUDO government plans, funding and their H[HFXWLRQ Also the drop in oil revenue did not help matters as far as the comprehensive execution of the programme is concerned, but based on prudent management of scarce resources, the Buhari administration has largely reached its target of tackling the menace RI DEMHFW SRYHUW\ DQG LWV DVVRFLDWHG LOOV It therefore calls for a sustenance of the momentum in executing the remaining DVSHFWV RI WKH SURJUDPPH Enekwechi, JP Kwechis19@yahoo.com

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T H I S D AY

MONDAY JULY 11, 2022

EDITORIAL

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

SHINZO ABE (1954-2022) Shinzo Abe, former Japanese Prime Minister, dies aged 67

and declining productivity. Abenomics had three key hen a man of peace is silenced by DVSHFWV ÀVFDO SROLF\ PRQHWDU\ SROLF\ DQG VWUXFWXUDO the forces of violence and evil, the UHIRUPV 7KH ÀVFDO DVSHFW IRFXVHG RQ SURYLGLQJ H[WHQVLYH world stops in shock. This is perhaps stimulus package to jump start a stagnant economy. The the most apt description of the monetary aspect aimed to inject funds into the economy worldwide grief at the assassination while structural reforms focused on increasing access of former Japanese Prime Minister, to credit and ramping up industrial production. It Shinzo Abe. The longest serving Prime Minister of Japan ultimately helped to increase the work force by adding was last week killed while speaking at a campaign rally two million women and young people. in support of a candidate of his liberal Democratic Party. On the global stage, the late Abe made a deliberate The assassin, a 41-year-old unemployed man, remains HͿRUW WR UHSRVLWLRQ -DSDQ +H OHYHUDJHG WKH VXFFHVV RI in custody as investigations into motives continue. Abenomics to send an unmistakable message to the Preliminary reports world that Japan was back indicate that he may have for business. Abe travelled targeted the former prime the world, visiting over 50 minister whom he killed countries including India with a home-made gun In Abe, the world has lost an illustrious global statesman and and China during his tenure. due to a grudge. In particular, he strove Meanwhile, the shock symbol of peace and progress to strengthen relations of Abe’s assassination with the United States. In is deepened by the fact this regard, Abe strove to that Japan has one of the tamp down memories of world’s lowest records of the lingering animosity of the Second World War. In a gun violence or even general homicide. And targeted series of symbolic historical gestures, Abe walked side killings like that of Abe are rare. The annual homicide T H I S D AY by side with former President Barack Obama to visit EDITOR SHAKA MOMODU rate is less than 10 in a country of 125 million people DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA WKH VLJQLÀFDQW ZDU GHVWLQDWLRQV RI +LURVKLPD DQG 3HDUO ZKHUH D OHJLVODWLRQ RQ WKH SRVVHVVLRQ RI ÀUHDUPV MANAGING DIRECTOR ENIOLA BELLO +DERXU 6LJQLÀFDQWO\ -DSDQ XQGHU $EH EHFDPH D PDMRU VWDWHV ´1R RQH VKDOO SRVVHVV D ÀUHDUP RU ÀUHDUPV RU D DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU SLOODU RI WKH WUDQVSDFLÀF DOOLDQFH sword or swords.” Indeed, owning a gun in Japan takes CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI Elsewhere, relations between Japan and the European EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN a long and tedious process involving joining a hunting MANAGING EDITOR BOLAJI ADEBIYI Union and NATO improved and grew under Abe. On or shooting club, passing a written examination and THE OMBUDSMAN KAYODE KOMOLAFE the continent, Abe is credited for strengthening trade VHFXULQJ PHGLFDO FHUWLÀFDWLRQ DERXW WKH VWDWH RI PHQWDO and diplomatic relations between Japan and Africa health. And civilians are not, on their own, allowed to throughout his reign. The African Development Bank purchase a gun which perhaps explains why Abe’s killer T H I S D AY N E W S PA P E R S L I M I T E D (AfDB) President, Akinwumi Adesina who described used a weapon he probably fabricated. EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA Abe “a powerful voice for good in the world,” has also As Japan mourns one of their most illustrious leaders, GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, said the late Japanese leader was a friend of the continent. ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI the late Abe is best remembered for his signature ´$ JUHDW IULHQG RI $IULFD µ $GHVLQD VDLG ´+H GURYH DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, economic policy that came to be known worldwide ANTHONY OGEDENGBE TICAD for a very strong Japan-Africa partnership. My as Abenomics. The backdrop to the popularity and DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI condolences to his family, the government and people HͿHFWLYHQHVV RI $EHQRPLFV ZDV WKH GHÁDWLRQ DQG SNR. ASSOCIATE DIRECTOR ERIC OJEH of Japan.” It is no wonder then that Abe’s surprising ASSOCIATE DIRECTOR PATRICK EIMIUHI stagnation that characterised Japan’s economic life for many decades before Abe’s advent in 2012. Abenomics CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI assassination has evoked a global torrent of grief and DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO condemnations. In Abe, the world has lost an illustrious was therefore deliberately targeted to tackle these TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com global statesman and symbol of peace and progress. VSHFLÀF SUREOHPV DQG WKH LPSDFW RI DQ DJLQJ ZRUN IRUFH

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LETTERS NIGERIAN CHILDREN DESERVE BETTER For children, Nigeria remains a harrowingly hard place. ConÁLFWV PDQLIHVWLQJ LQ GLͿHUHQW IRUPV KDYH DOUHDG\ FRPSOLFDWHG ZKDW LV QR GRXEW GL΀FXOW FLUFXPVWDQFHV $FFRUGLQJ WR WKH *OREDO Childhood Report by Save the Children, a UK-based non-governPHQWDO RUJDQL]DWLRQ IRFXVLQJ RQ WKH LVVXHV WKDW DͿHFW FKLOGUHQ DQG WKHLU VXUYLYDO 1LJHULD UHPDLQV RQH RI WKH PRVW GL΀FXOW SODFHV WR be a child, ranking below veritable hellholes like Yemen and Syria. As Nigeria has continued to cascade into chaos, one fact has become more obvious than others, and it is that children are disproportionately caught in the middle of the crises. When communities have been attacked and entire families slaughtered, children have been victims. When livelihoods have EHHQ ZLSHG RXW DQG WKH UHDOL]DWLRQ RI 6'*V RQH DQG WZR FUXHOO\ deferred for already impoverished communities, children have borne the brunt. On Saturday July 2, 2022, in the basement of the Whole Bible Deliverance Church located in Valentino Area of Ondo town, Ondo State, no fewer than 77 people were found locked, practically imprisoned. Some of the victims had allegedly abandoned their homes while others allegedly disowned their parents while claimLQJ WKDW WKHLU SDUHQWV ZHUH QRW WHDFKLQJ WKHP WKH ZD\ RI *RG 7KH victims had allegedly been kept in the church for over six months

while some of them had abandoned schooling. Upon the rescue of the victims by the police, the pastor of the Church, David Anifowose and his assistant, Peter Josiah, were also arrested by the police. Of the 77 victims, about 23 were said to be children. The victims were all allegedly hypnotized. Upon their rescue, they were said to have refused to be reunited with their parents, saying they could not leave their pastors in detention. If does appear that whatever was done to put keep children under such desperate conditions crawling with the vilest forms of abuse was done without the consent of their parents. Children born today have a better chance than at any time in history to grow up healthy, educated and protected, with the opportunity to reach their full potential. Even a generation ago, a child ZDV WZLFH DV OLNHO\ WR GLH EHIRUH UHDFKLQJ DJH ÀYH SHUFHQW PRUH likely to be involved in child labour and 20 percent more likely to be murdered. For millions of children worldwide, childhood has ended too soon. The major reasons include ill-health, malnutrition, exclusion from education, child labour, child marriage, early pregQDQF\ FRQÁLFW DQG H[WUHPH YLROHQFH )RU \HDUV DQG FRXQWLQJ LQWHUQDWLRQDO 1RQ *RYHUQPHQWDO 2UJDQL]DWLRQ 6DYH WKH &KLOGUHQ KDV EHHQ DW WKH IRUHIURQW RI HͿRUWV

to make life better for children all over the world. Every year, it UHOHDVHV D *OREDO &KLOGKRRG 5HSRUW ,WV *OREDO &KLOGKRRG 5HSRUW 2021 shed light on the toughest places to be a child in the world. Of course, Nigeria was caught in the glare of the report like a deer caught in the headlights. The report which examined the many factors that robbed children of their childhood and revealed where greater investments are needed to save children from poverty, discrimination and neglect, compared the latest data from 186 countries and assessed where the most and fewest children were missing out on childhood. It certainly rung the alarm bells that the 10-bottom-ranked countries all came from sub-Saharan Africa with children in MadagasFDU *XLQHD %XUNLQD )DVR 1LJHULD 0DOL 6RXWK 6XGDQ 6RPDOLD Chad, Central African Republic and Niger least likely to experience childhood, a time that should be dedicated to emotional, social DQG SK\VLFDO GHYHORSPHQW DV ZHOO DV SOD\ +RZHYHU LQ WKHVH ERWtom-ranked countries among which Nigeria features prominently, FKLOGUHQ ZHUH VKRZQ WR KDYH EHHQ UREEHG RI VLJQLÀFDQW SRUWLRQV RI their childhood. Nigeria certainly needs to do more for its children. Kene Obiezu, keneobiezu@gmail.com

MONDAY JULY 11, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, JULY 11, 2022

BUSINESSWORLD

NEWS

Uphold Good Corporate Governance Principles IoD Urges New, Old Members Gilbert Ekugbe The Institute of Directors (IoD) has charged its old and new members to uphold good corporate governance principles and be guided by the code of ethics of the Institute at all levels in their work places and in their private affairs. The president and Chairman of Council, (IoD), at the July 2022 new members’ induction ceremony charged its new and old members to appreciate the privileged status in the Institute while also urging

the members to remain steadfast and focused in their support of IoD Nigeria for its growth and development. “Our Institute will continue to demonstrate greater concern for and commitment to the governance of all private and public sector organisations in Nigeria, and the leadership of the Institute would continue to appreciate any ideas and input by existing and new members towards the achievement of the Institute’s vision,” she said. She said the advocacy role

of the Institute is evident in the entrenchment of best practice in how its directors lead their organisations through the capacity development programme that its new and existing members are exposed to early enough and throughout their membership of the Institute, stating that the successful trajectory of an organisation rests largely on the performance, competence and integrity of its directors. She pointed out that the admission into the Institute is both a call and admission into the global network

of responsible group of leaders that have committed themselves to be change agents in their business and private lives and have pledged to champion positive changes in their organisations and the Nigerian economy at large. She noted that IoD Nigeria over the years has made tremendous impact in both the public and private sectors of the Nigerian economy, adding that the institute has groomed directors into becoming

highly responsible ambassadors of corporate governance and sound ethical practices as is obtainable globally. According to the IoD boss, in August 2020, the Institute launched its new Code of ethics for members and staff of the Institute, in order to reposition its members and staff on issues bothering on ethical conduct and expectations, stressing that the Institute has been able to sustain a regime of consistent advocacy in this

field with a record of substantial achievement and tremendous progress. Also speaking, the Managing Director, Eko Electricity Distribution Company Plc, Mrs. Tinuade Sanda, during her presentation themed “A Critical Assessment of Corporate Governance and Industry Standards in the Power Sector” said is quite apt, considering how critical the power sector is to the development of the Nigerian economy.

Atiku Gets ICT Prosperity Enabler Award, PledgesYouth Support Emma Okonji The former Vice President, under the Chief Olusegun Obasanjo democratic government, (19992007), Alhaji Atiku Abubakar, the Waziri Adamawa and presidential candidate of the Peoples’ Democratic Party (PDP), last week in Lagos, acknowledged the role he played as the administration’s Head of the Economy in ensuring that the ICT sector is set on a sound foundation to flourish. He pledged to continue in that stride of making Nigeria a more digitised country, and provide enablement for the youths to prosper through enhanced and pervasive digital platforms, if he becomes the president in 2023. As a head of the economy, Atuku supervised the liberalization and deregulation process that saw to the emergence of the GSM and digital revolutions. Atiku spoke through Barrister Uyi Giwa- Osagie, who represented him at the launch

of a book titled Nigeria Drivers of Digital Prosperity, where he received an award as Nigeria Digital Prosperity Enabler for championing the liberalization of the telecom sector. Apart from forestalling efforts by some in government to scuttle the GSM license on the day it held, Atuku said: “In February 2002, I inaugurated a 22-member Telecommunications Sector Reform implementation committee, aimed at increasing access to phone services for Nigerians, primarily through the GSM, and further facilitated all necessary licensing for the GSM to come into effect in Nigeria”. Heaping praises on the Author of the Book, Aaron Ukodie, Nigeria’s pioneer ICT journalist, Atiku said: “This very important book that truly resonates with me, and I am particularly thankful to the author of this book who has taken the initiative to document the historic journey of Nigeria’s ICT and Telecommunications

prosperity and how this has inspired our achievements in this sector till date” Atiku said the introduction of the GSM revolution made possible by Digital Mobile Licensing, has reshaped the economic and social wellbeing of Nigerians and Nigeria as a country. Atiku expressed gratitude for being honoured and acknowledged through the book as one of the pioneers of and contributors to Nigeria’s digital transformation within the ICT sector, in addition to the efforts of the Nigerian Communications Commission (NCC). He said he was proud to be associated with something so significant in Nigeria’s history, saying some of the insights of the book, accurately tells the true story of the digitization journey. He applauded the writer in “the delivery of this piece, which boldly encapsulates his mastery and experience as a journalist for decades”.

L-R: Immediate Past President, Lagos Business School Alumni Association (LBSAA), Clare Omatseye; President, LBSAA, Agada Apochi; Outgone President, LBSAA, Frank Aigbogun; Vice President, LBSAA, Owen Omogiafo and Dean, Lagos Business School, Prof. Chris Ogbechie during the handing over ceremony to Apochi as the new president of the alumni association in Lagos… recently

Experts Advocate Cross-Industry Synergy to Solve Waste Management Challenges Oluchi Chibuzor For the country to solve its waste management challenges, experts have advocated the need for a cross-collaboration effort among various stakeholders in the industry. According to them, a robust effort and strategy play an important role in instilling values in the system and thereby aid in combating climate change, reducing the volume of waste being sent to landfills and the misuse of tyres for social vices. Disclosing this in Lagos, at an event that heralded a change of name for the firm from Freetown Waste Management Recycle Limited to FREEE Recycle Limited, the Managing Director,Mrs. Ifedolapo Runsewe, said they are poised to solve improper disposal of tyres worldwide. According to her, as a pioneer

player in the waste tyre recycling and manufacturing industry in Nigeria, “we tasked ourselves with developing an innovative operational structure and a strategic plan that would meet our stakeholders needs, product quality, customer needs and profitability aspirations. “Today, Freetown Waste operates a 5 acre state-of-the-art Tyre recycling, Rubber Mat making and Tile Manufacturing facility at Apata, Ibadan, Oyo State. We currently have an installed tile production capacity of 400m2 per day and a mat production capacity of 3200m2 per day. Additionally. “Freetown Waste has maintained a reputation as an organization that is fully compliant with the relevant regulatory laws in Nigeria. We have successfully acquired all relevant permits and

licenses including our Pioneer Status Certificate from the Nigerian Investment Promotion Council, Production Day Certificate & Manufacturer’s Certificate from the Federal Ministry of Industry Trade and Investment. Our pioneer status allows a tax break of up to three years.” Runsewe, whose firm operates a five million dollars facility noted that they actively contribute to the reduction of environmental pollution caused by inappropriate disposal of waste and thereby utilising it to create economic value in Nigeria. She maintained that their recycling operation has a direct impact on the environment through the prevention of CO2 emission, from burning discarded tyres and the implied impacts on emissions from landfills.

Broadband Penetration on Steady Rise, Say Danbatta, Ndukwe Emma Okonji Nigeria’s broadband penetration recorded a quantum leap in the last seven months from November 2021 with a record of seven million new subscriptions, indicating a steady rise in nation’s quest to achieve 70 per cent national coverage by 2025. Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, who presented the figures in Lagos recently at the launch of a book on the impact of broadband on the economy, said: “The steady growth in broadband penetration is positively impacting other sectors of the economy such as healthcare, education, agriculture, finance, transportation, commerce, governance, and other sectors.” The event was chaired by the former EVC of the NCC and current Chairman of MTN Nigeria, Dr. Ernest Ndukwe,

who also applauded the steady rise in broadband penetration. Danbatta said the sector had impressive statistics as he presented the keynote at the 11th eWorld Forum, which featured the launch of a book: “Nigeria Drivers of Digital Prosperity: The Trajectories of the Digital Evolution, Sector Analysis and Players Contributions”, authored by the convener of the forum, Mr. Aaron Ukodie, a veteran Information and Communication Technology (ICT) journalist and publisher of eWorld News Online. “Internet subscribers have grown from 90 million in 2015 to 150.36 million as at May 2022. Also, within the period under review, broadband penetration increased from 8 per cent to 43.67 per cent, indicating that over 83.3 million subscribers are on broadband networks of 3G and 4G. Indeed, between November 2021 and May 2022, the networks have added 7 million new users,” Danbatta

said. Danbatta, who was represented by NCC’s Head, Spectrum Administration, Abraham Oshadami, informed the audience that in the fourth quarter of 2021, the sector contributed 12.61 per cent to the Gross Domestic Product (GDP), a reasonable leap from 8.50 per cent in 2015. Active mobile voice subscription also increased from 151 million in 2015 to over 204 million as at May 2022, while teledensity is 107.17 per cent. On universal access and service, the NCC chief executive said the Commission, through the Universal Service Provision Fund (USPF), recorded huge successes towards ensuring that telecommunications services are accessible to a large number of people (and communities) at affordable prices, in addition to various projects being implemented by the Commission to increase universal access and service as well as to enhance government efforts in poverty reduction.

MONDAY JULY 11, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, JULY 11, 2022

HOMES&DESIGN NNPC TOWERS:

High-rise Made from ‘Pure Black Gold’

Four sturdy towers aggregate as the headquarters complex of the Nigerian National Petroleum Corporation (NNPC)’s corporate headquarters. They signpost economic vibrancy and national development. Bennett Oghifo writes

he four NNPC Towers rise to 74.981 metres high, arranged in a square and deliberate architectural rendition to provide security and exquisite aesthetics. Built in 1996, the iconic towers stand elegantly on Herbert Macaulay Way in Abuja’s Central Business District. They tell the sweet story of Nigeria’s exploits as a foremost oil-producing country. A fine mix of reinforced concrete and glass brightens the towers. According to experts, the glass facade is used in ‘Building Envelope Design and Construction’, which has become a specialised field with several codes emphasising energy efficiency in buildings

both on a mandatory and voluntary basis. Glass is an energy-efficient material that lends aesthetic and functional value to a building. It is extensively used in buildings, and it will need to be aligned, including the right selection, analysis, and facade design. Interestingly, professionals have noted that in the past few decades, the use of glass in buildings has remarkably increased. As a result, several transparent buildings have been constructed, and the materials have almost disappeared. More transparent buildings have been constructed, in which the visual presence of materials has decreased.

To refine the design and construction of transparent buildings and modify their structural behaviour, both before and after damage and all the remaining opportunities should be carefully identified. For this purpose, this study analyses the opportunities presented by recent advancements to improve the appearance and efficiency of glass buildings. It then predicts how each novel approach can affect the future of transparent buildings. The use of reinforced concrete in the towers is also very important. Reinforced concrete is a combination of reinforcement and concrete and finds application

in various types of construction works. Reinforced concrete is an important material often preferred during steel construction mainly due to its versatility, adaptability, and resistance to fire and corrosion, resulting in negligible maintenance costs. According to experts, developing betterquality cement has resulted in better concrete strength and durable concrete for use in different types of structures. Reinforced concrete is used to construct foundations for the rooftops of buildings, in the construction of highways, roads traffic, precast structures, floating structures, hydro-power tunnels, irrigation canals, drains, and all other conceivable structures.

MONDAY, JULY 11, 2022 ˾ T H I S D AY

BUSINESSSPECIAL

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

Herbert Wigwe: Driving Bold Transformation Obinna Chima writes on the expected beneﬁts of Access Bank’s transition to a holding company

ith the changing face of banking globally, operators are constantly looking for ways to ensure that they maintain relationship with their customers. Additionally, with digitisation transforming business models and processes in new and greater ways, banks are innovating and adopting models that would enable them achieve competitive advantage. One of such innovative models is the holding company (Holdco) structure which some forward-thinking bank chief executive officers in the country have made their organisations to embrace. Access Corporation (formerly Access Bank) is the latest in the league of HoldCos in the financial services sector. Under the new re-organisation, Access Corporation now serves as the parent company for the group and its subsidiaries are: Access Bank Group; Access Payco Group; Access Lendco; Access Insureco; Access Real Estate, and Others (e.g., ecommerce). Over the past 26 years, Access Corporation has evolved from an obscure Nigerian Bank into a world-class African financial institution. Today, the financial institution holds one of the five largest banks in Nigeria in terms of assets, loans, deposits and branch network; a feat which it achieved through a robust longterm approach to client solutions – providing committed and innovative advice. Access Corporation has built its strength and success in corporate banking and is now applying that expertise to the personal and business banking platforms it acquired from Nigeria’s International Commercial bank in 2012. The past two years were spent integrating the business, investing in infrastructure and strengthening the product offer. As part of its continued growth strategy, Access Corporation is focused on mainstreaming sustainable business practices into its operations. The institution under the leadership of Herbert Wigwe, strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant. From a tiny bank in 2002, Wigwe who took over from his close friend and business partner, Aigboje Aig-Imoukhuede, in 2014, has completely transformed then commercial bank which was ranked 65th among 89 banks operating in the country then, to a financial supermarket. “So, what the Holdco strategy allows us to do is to begin to look at new markets and new opportunities that a traditional bank cannot offer. So for us, we are setting up a lending company. It must create its own customers outside of what exists in Access Bank to compete for market share. “So, there would be a lot more financial inclusion, a lot more lending to young people, a lot more ease in terms of opening accounts, among others. The traditional banks are very heavy in terms of cost and expectations, compliance, etc, but what this type of institution does is that it provides the opportunity to support the mass market already, whether it is a pay day loan, you want to fix your car or buy a car. “Now our payment company, which is the PayCo, is one that would be supporting our Business-to-Business and Business-to-Customers relationship, customer-merchant acquisitions, etc. It is going to be settling payments across the continent. It is not just about Access Bank, they are also going to create a global access payment gateway to ensure that payments are settled not just within Nigeria, but across the entire continent. “What PayCo does for us is that it would enable us have in-roads into businesses where didn’t have capacity. I will give you an example, today if you use your Access Bank mobile phone, you can make payments to anybody and anywhere in the world. So, what we are trying to do is to push and support payments, whether it is by way of trade, diaspora remittances across the entire continent. “Our insurance brokerage business is to help us preserve monies that ought to be paid to other firm. And the final one is our pension

Wigwe

company. Obviously, because of our size and our platform and the opportunities, we are going to be playing big in the PFA market. “All of these things are complementary and the bank is going to build on all of these things to get the full benefits of the HoldCo and the different investments. Obviously, things around agility, taking advantage of the scale of the parent company which is Access Bank are important, managing talents are also very important. “If you take technology for instance, most of the talent in that market don’t want to work in traditional banks. So, what we have done is to create a structure where we can take them, train them and create a proper career path for them for the benefit of the entire group,” Wigwe explained. Wigwe, who is the Group Managing Director/Chief Executive Officer of Access Corporation, is one of the most respected bankers on the continent, without a shadow of a doubt. Indeed, he clearly understands that without embracing change and having foresights, banks would not be able to compete and would be left behind by their peers. This, would definitely impact customer satisfaction, operational efficiency, and revenue growth negatively. This was why he continuously ensured that Access Bank under his watch grew to become one of Africa’s leading financial services groups. He has shown a relentless pursuit for growth, but in a measured and calculated manner. Wigwe has helped to develop some of Africa’s biggest companies in the construction, telecommunications, energy, oil and gas sectors through Access Bank. The CEO of the financial institution strongly believes in the vast opportunities across Africa, which was why he aggressively drove its expansion. According to Wigwe, Africa has enormous potential and there are opportunities for an African bank that is well run, that

understands compliance and has the capacity to support trade and the right technology infrastructure to support payments and remittances, without taking incremental risks. Access Corporation, which builds on Access Bank’s scale and ethical standards has portfolio companies with significant complementarities, allowing the ecosystem to walk with customers across their life cycle while delivering value to stakeholders. Wigwe said: “We have set our sights on and delivered ambitious plans to transform the African financial services sector over the last 20 years. Until now, we have concentrated on banking, with the goal of becoming the World’s Most Respected African Bank. “Our banking subsidiary is now Nigeria’s largest bank by assets and Africa’s largest in terms of customer base. “It is now time for us to take the next transformative step, where we provide our customers with beyond banking services delivering new interconnected financial services across customers’ needs.” The Corporation would comprise verticals cutting across banking, payments, consumer lending, insurance brokerage and asset management. Access Bank Group would continue to operate in Nigeria and through its subsidiaries and business offices in Africa, Europe, and Asia. These businesses, when combined, would position Access Corporation to provide banking services, including intra-and inter-Africa trade, consumer lending, payments services, and insurance services to our customers, thereby improving wealth diversification and preservation. Looking ahead five years, Access Corporation is expected to be a leading financial and ecosystem player, with services spanning B2B and B2C marketplaces, B2B services, health, housing, digital, mobility content, mobility, core banking offerings, and other financial services such as insurance and wealth management.

Wigwe added: “We recognise and embrace the change that is currently happening and, as we have previously demonstrated, we will lead. Access Corporation will be a driving force in the ongoing digital revolution to the benefit of our stakeholders. “This transition will allow us to offer more career development opportunities across portfolio companies for our employees, allowing us to attract and retain the best talent in an increasingly global marketplace. “We will unlock more value for our customers by focusing on distinct business opportunities with high growth rates globally, such as payments and consumer lending.” Indeed, the focus of Access Corporation is to become an aggregator in Africa and it is building a global payment gateway and providing trade finance support and correspondent banking across the continent. The approach is that in any country it is present, it would have the right skills and it would not just be a drop in that country, but would make sure it has impactful presence in each of the major countries it has chosen to plant its subsidiary. In doing this, Access Corporation is also mindful of the country is going to so as to make sure that it is able to reap the desired benefit. In addition, it has diversified its earnings away from volatile markets as well as orchestrated its operations from the global payments gateway by ensuring that using Access Bank UK, providing corresponding services from digital platforms, it gets the overall profitability of its franchise. Speaking on AfCFTA, Wike said the bank would use its digital framework to benefit from the deal. “So, we are moving from just being a Nigerian institution, to creating a much-more diversified institution in scale, scope and the nature of things that we do. Access Bank is basically transforming and we are now creating a holding company and I will give you some of the reasons we are doing what we are doing. First of all, the world is changing and technology has changed how things happen. “I recall that about 25 years ago, if you wanted to sell debit cards, it was impossible. But that is gradually becoming extinct because a lot more payments are happening digitally. Secondly, if you look at the demography in the world, what they are asking for is digital payments and they are not waiting for the traditional banking system. That is, for them to be able to do several things through the touch of the button. “So, the world is changing and if you as an institution is not part of that change, you may wake up one day and find out that you don’t have an institution. We are all used to when we used to have VCRs where people play video games and you rent films from mega plazas during the weekends, just to watch movie. “The world has gone away from that and today, you can just go online to do whatever you want to do. Now, banking is changing and it is evolving rapidly. Technology has made it such that you can serve customers, even from the most remote village. So, there is a big change happening at a faster pace than we can imagine in the banking sector. “If you look at the way banks are valued, they are always valued from the traditional banking mindset, meanwhile they have the capabilities of creating institutions that can compete with fintechs and provide additional revenue over and above what they were doing as banks,” he explained. No doubt, Access Corporation is creating strong and reliable institutions that would ensure that customers’ expectations are met. This natural evolution would ensure that the Holdco continues to use digital tools and its partnership with fintechs to support customers’ lifestyles outside of the banking system.

T H I S D AY ˾ MONDAY, JULY 11, 2022

BUSINESS SPECIAL

ANALYSIS

Broad Street

Examining Suru Worldwide, AMCON’s Tug-of-War Dike Onwuamaeze writes on the ongoing dispute between the Suru Worldwide Venture Nigeria Limited and the Asset Management Corporation of Nigeria

game of intrigues! This is the apt description of the goings on between the Suru Worldwide Venture Nigeria Limited and the Asset Management Corporation of Nigeria (AMCON) over a loan Suru borrowed from the defunct Oceanic Bank in 2007. The loan was later sold to the AMCON in 2010 by the Managing Director of Oceanic Bank, Mr. John Aboh, even though it was alleged to be a performing loan. The matter has been argued in multiple numbers of courts since 2010- from two Federal High Courts to the Appeal Courts. Currently, two appeals on this matter are pending before the Supreme Court. One of them would come up in the apex court on September 23, 2022. The legal tussles between Suru and the AMCON had their origin in 2007, when Suru obtained a loan of N13.3 billion from the Oceanic Bank under the stewardship of Mrs. Cecelia Ibru, former managing director of the bank. Initially the relationship between the lender and the borrower was warm and friendly. But this took a different turn in 2009 when a new Governor of the Central Bank of Nigeria (CBN), Mr. Lamido Sanusi (now dethroned Emir of Kano), intervened in the operations of the Oceanic Bank, sacked Ibru and appointed Aboh as its new managing director. The Group Managing Director of Suru Group Limited, Mr. Edward Akinlade, said, “early in 2007, Suru took a loan of N13.5 billion from the defunct Oceanic Bank under Dr. Cecilia Ibru, to buy over 25 acres of land in the GRA, Ikeja, Lagos State, and to build one hotel in Allen Avenue, Ikeja, called Best Western. “The loan was basically doing well until 2010 when we got a letter that it has been sold to AMCON, which is not supposed to buy a performing loan. What then happened was that Aboh, in order to collect money from AMCON, sold all the loans to AMCON irrespective of whether they were performing or not. Another thing Aboh did at that time was that he took all our credits.” However, in its response, AMCON argued that all the facts being peddled by Suru Worldwide Ventures Nigeria Limited and its promoters are false and intended to mislead the public. Akinlade alleged that the Suru has drawn N10 billion before the loan was sold to AMCON, leaving N3.5 billion to be drawn. But to his chagrin, the group received letters two months after its loan was sold. One of the letters was from the AMCON, which, “wrote us that they have bought our loan.” Another letter also came from the Oceanic Bank said that “our loan has been cancelled because they do not have money due to the CBN’s intervention in their operation.” Akinlade had a meeting with the first Managing Director of AMCON, Mr. Mustapha Chike Obi, to make it clear that AMCON could not buy the loan. Chike Obi told him that Suru’s loan was bought from Oceanic Bank at N8.3 billion. Akinlade alleged that Oceanic Bank hyped the loan balance to N15 billion.

THE INTRIGUE

He alleged that Chike Obi asked him to pay some amount so that AMCON would release N3.5 billion to Suru to complete its unused credit. “I was excited, and in my foolishness sold eight of our beautiful acres in the GRA to Multichoice and sent N2.2 billion to AMCON leaving a balance of N6.3 billion. From 2013 to 2015, AMCON was not picking my calls and any attempt to see its managing director was unsuccessful,” he alleged. The matter, according to Akinlade, became complicated when Mr. Ahmed Kuru became the managing director of AMCON. He alleged that Kuru took the matter very personal and refused to release the N3.5 billion unused credit. Rather, Kuru told Suru to pay N2.3 billion to AMCON. Akinlade quickly made contact with First Bank, London, and raised $50 million. “I came back to Lagos and went to AMCON and said ‘here is your money.’ But AMCON rang First Bank, London, to remind it that there is a rule in Nigeria that anyone owing AMCON should not get a loan from Nigerian bank. The London bank rang me and announced that my loan has been cancelled,” he alleged.

LITIGATIONS

The next thing AMCON did was to sue Suru before Justice J. Idris seeking a declaration that it has purchased loan within the law. That case was dismissed by Justice Idris and AMCON never appealed against the judgment. Then Suru Group sued Oceanic Bank (now Ecobank) for N39 billion for selling its loan to AMCON illegally before Justice M. S. Hassan of the Federal High Court. Within one month of that case, AMCON came to be joined and counter sued Suru for N27 billion. The case before Justice Hassan was still pending when AMCON went to another court to sue the inspector general to help them take possession of Best Western Hotel without naming or joining Suru as a party to the case. AMCON got a favourable judgment which Suru appealed against. “We appealed against that judgment on the ground that our name was not included. The Court of Appeal set aside the original ruling stating that AMCON should go back to the Federal High Court to originate a new case with our name. AMCON appealed to the Supreme Court and the case will come up on September 23. Justice Hassan delivered a judgment that dismissed AMCON’s case against Suru. Justice Hassan ruled on March 22, 2018, that the AMCON’s “claims have been dismissed. It goes without saying that the application for injunction dated 25/5/2017 but fled on 23/5/2017 is dismissed. It is common saying that you cannot put something on nothing and expect it to stay. It will definitely collapse. That is my considered ruling.”

AMCON appealed the judgment delivered by Justice Hassan at the Court of Appeal, Lagos Judicial Division, before Honourable Justices Biobele Abraham Georgewill, Frederick Oziakpono Oho and Folasade Ayodeji Ojo, and lost the appeal. In a lead judgment on April 19, 2021, that was written by Justice Oho, the Court of Appeal affirmed the judgment as delivered by Hassan and declared AMCON’s appeal moribund. Oho said: “There is no gain saying the fact that this appeal is moribund and completely lacking in merit. It is accordingly dismissed and the decision of the FHC, Lagos Division, delivered on May 22, 2018 Coram: M.S. Hassan J in Suit No. FHC/L/CS/450/2011 wherein the court dismissed the appellant counter claim dated June 16, 2016 and the appellant motion on notice dated May 22, 2017, seeking injunctive orders to restrain 1st, 2nd Respondents from dealing with properties which are the res of the suit at the lower court during the pendency of the suit is affirmed.”

AMCON’S POSITION

However, described Suru as a recalcitrant debtor whose activities, if not tamed, were capable of completely destroying the financial services in Nigeria. “It is pertinent to state that, by the provision of Section 5 of the Asset Management Corporation of Nigeria Act, 2010 (as amended), AMCON is empowered to acquire Non-Performing Loans of financial institutions. Indeed, the outstanding indebtedness of Suru to Ecobank, at the time, came within the ambit of non-performing loan, which AMCON was mandated and entitled to acquire, in law. “It will be recalled that, the creation of AMCON became expedient about a decade ago when financial institutions in Nigeria, especially commercial banks, became very burdened by debts of some customers like Suru who believed that bank loans were simply their share of the national cake and not to be repaid. “Contrary to the fallacy contained in Suru’s publication, AMCON does not stand the chance to reap any benefit from hunting down any business in Nigeria. In fact, AMCON has, through its appointed Receiver/Managers, successfully managed and resuscitated several moribund companies with the aim of recovering its debts from the said companies. Some of these companies are spread across the oil and gas sector, steel sector, aviation sector, to mention a few. “It is, therefore, untrue to allege that AMCON is interested in a “pull him down syndrome.” AMCON took over all of Suru’s assets, which were pledged as security for Suru’s indebtedness, which stood at a whooping sum of N24,237,390,635.67 as at 14th of January, 2016. This fact has never been denied by Suru. “Rather, Suru has variously acknowledged

and admitted its indebtedness to AMCON. The taking over of Suru’s pledged assets is not a matter of witch-hunt, but an exercise, which was sanctioned by court orders,” the Corporation stated. Shedding more light on the matter, AMCON in a statement explained: “In the first place, taking over pledged assets is the last option when it becomes so clear that the obligors are not willing to pay even when they have capacity to do so. In many instances when AMCON takes over assets of debtors, the debtors approach AMCON for reconciliation and restructuring. “In Suru’s case, despite acceding to its several restructuring requests, it has persistently failed to honour any of its obligations to AMCON. All that Suru wants is for AMCON to treat it like a special debtor and ask it to “go and sin no more” despite the huge indebtedness of over N24,237,390,635.67. AMCON, as an institution created by law, will not allow any obligor to “go and sin no more.” “Suru’s claim of running down its business is another puerile attempt to gain underserved public sympathy while failing to honour simple business agreements. Since Suru has subscribed to the enterprise of purveying falsehood to the public, we think that Suru owes the public a duty to show them proofs of how it has repaid its humongous indebtedness to AMCON. “Suru has continued to write petitions to several public institutions in Nigeria to prevail on AMCON to release its assets to it without paying a dime. All these petitions have been dismissed as lacking in merit. Most of these public institutions recognise the fact that, debtors like Suru are responsible for the dwindling growth of the financial services in Nigeria and have made it very unattractive for foreign investors. “However, the era of “borrow and not-pay” in Nigeria has gone for good. How can we progress as a nation when we have huge budget deficits every year while over N4trillion is in the hands of few Nigerians?” it added. AMCON alleged that, “Suru, in its usual characteristics, has tried to lie to the public by alleging that AMCON failed to appear before the House Committee on Public Petitions. It is true that AMCON was invited to appear before the Committee on the 21st of October 2020. However, the hijacked #Endsars protest prevented AMCON’s officials handling Suru’s account to fly from Lagos to Abuja. Nevertheless, the Corporation has responded to the petition and filed a formal written response before the Committee. “We advise the public to disregard all the attempts of Suru to misrepresent facts of its N24,237,390,635.67 indebtedness to them. Obligors like Chief Akinlade who have brazenly decided to appropriate our commonwealth to fund their expensive lifestyles while the majority of Nigerians are living below the poverty level should not walk freely around just as we must not allow them to curry public sympathy from the backdoor.” For now, only time will tell in whose favour the justice will fall on.

MONDAY, JULY 11, 2022 ˾ T H I S D AY

BUSINESS SPECIAL

ANALYSIS

FMBN Set to Deploy Core Banking Solution to Improve Affordable Service Delivery John Terhemen Ikyaave

financial reporting. Standardising reporting requirements gives business entities the same leverage international companies have as well as a greater level of confidence by market operators, potential investors, and analysts. This Integrated solution would allow for quick decision-making by management by providing various management and financial reports in record time. Automating financial reporting would eliminate many mundane and time-consuming processes associated with manual accounting. It would help improve audit readiness and promote reliable consolidation of financial statements, team sharing, optimised collaborations, electronic review, and monitoring while ensuring transparency and credibility of financial data. The entire process of preparing accounts becomes faster, and reports can be generated instantly at the click of a button.

digital Federal Mortgage Bank of Nigeria (FMBN) is now in sight. After decades of unsuccessful efforts to modernise its operations and business processes to meet global banking standards, Nigeria’s apex mortgage Bank, the FMBN, has begun digitising its business processes. The historic development followed the rapid implementation of the 2020 federal government’s approval for the bank to procure and deploy a core banking software application. According to the new Managing Director/ Chief Executive of the FMBN, Mr. Madu Hamman, contract implementation for the core banking solution is at an advanced stage. Some components of the enterprise banking system are already undergoing live testing while others are due to go live before year-end. The FMBN MD/CEO gave the progress update last month while hosting the leadership of the Mortgage Banking Association of Nigeria (MBAN) at the bank’s headquarters in Abuja. “To bolster FMBN’s operational efficiency, we have prioritised speedy implementation of the FMBN Core Banking Software since we assumed office. We are happy to report that the first module covering Treasury Services and FINCOM is live, and we are currently posting to it. “The next module to go live covers credit and NHF, which form the engine room of FMBN’s operations. Other modules, including budgeting and human resources, are planned to go live within July and August this year. By September, we hope to be fully online with the core banking software,” Hamman, the FMBN MD/CE. Implementing the Core Banking System for FMBN will have a significant and farreaching impact on Nigeria’s housing and mortgage market. Once operational, the digital banking system will help the FMBN create an integrated and technology-driven platform to drive its operations. The Bank would then have the capacity to tackle the many systemic challenges it has had to contend with over the years due to the largely manual nature of its operations. REAL-TIME ACCESS TO NHF ACCOUNT TRANSACTION DETAILS Top on the list is fixing the longstanding inability of the Bank to update, in real-time, subscribers’ monthly contributions to the National Housing Fund (NHF) Scheme. The scheme was set up by the federal government in 1992 and all Nigerians who are above eighteen years and work in the public, private and informal sectors of the economy are eligible to register and participate by contributing 2.5 percent of their monthly incomes. The NHF scheme presents a convenient and cost-effective opportunity for Nigerians, especially those within the low- and mediumincome segment, to become homeowners. Six months of consecutive contribution to the NHF Scheme qualifies a subscriber to apply and access a suite of affordable home loans on offer by the FMBN. This includes the FMBN’s NHF Mortgage Loan which provides up to N15 million at a six percent interest rate to NHF subscribers to purchase their dream homes; the FMBN Individual Home Construction Loan designed for NHF contributors that have unencumbered land, legal titles, and approved building plans to undertake self-construction and the FMBN home renovation loan which provides up to N1million to beneficiaries who already own

Hamman

their homes to carry out improvements. Recent FMBN product additions available to NHF subscribers include the Diaspora Mortgage Loan and the Interest-free Rent-to-Own scheme. Recent statistics show that over five million Nigerians contribute to the scheme. As manager of the NHF Scheme, the FMBN has drawn much flak from workers, stakeholders, and the general public regarding the operations of the NHF scheme. Much of these issues arise from the multi-stakeholder structure of NHF operations as it empowers employers in public and private sectors deduct and remit to FMBN 2.5 per cent of the monthly income of their workers, who are registered contributors to the NHF Scheme. NHF subscriber complaints and investigations have shown that many employers are dutiful and prompt in shaving off the 2.5 per cent of workers’ monthly salaries but sluggish and unwilling to remit the amounts to FMBN. The Subscriber Management Component of the Core Banking Solution is set to fix this issue in a sustainable manner. It will ensure seamless back-end integration with employers to ensure timely deductions from workers’ salaries and transparent remittance to the FMBN. Once functional, it will ensure that NHF subscribers get real-time alerts on all transactions on their NHF Accounts and stay informed on the status of their accounts. REDUCED TURNAROUND TIME FOR MORTGAGE LOAN APPLICATIONS The core banking system would help redress the time it takes for subscribers to access credit from the Bank. The FMBN management projects that the software application would streamline the multi-

layered mortgage loan process steps and eventually crash the time it takes NHF subscribers to access credit to less than two weeks when implemented. The result will be faster mortgage loan application processing and disbursements, leading to enhanced customer satisfaction and experience. SEAMLESS BUSINESS TRANSACTIONS Besides improving turnaround time, the credit risk management component of the core banking system will aid digital credit scoring and appraisal for improved accuracy. It will also enhance the visibility of NHF subscribers’ credit performance in the records of primary mortgage banks, as well as ensure early warning to primary mortgage banks where the likelihood of delinquency is observed on specific subscriber loans. Equally important would be its ability to ensure better management of credit collaterals and online interactions with stakeholders, and collateral valuation entries and alerts. The application also includes the ability to help the bank achieve efficient document management systems by enabling it to work paperless in loan documentation, appraisal, disbursement, remediation, and loan recovery processes. STANDARDISATION OF FINANCIAL REPORTING Standardising financial reporting is another essential improvement the core banking system would help the bank achieve. Once implemented, it will aid the bank in keeping proper records of its financial transaction of payments and receipts, general ledger, etc, that would provide the base for

INTERNET BANKING CAPABILITIES AND IMPROVED TREASURY MANAGEMENT Other notable components of the system include the internet banking system which would provide seamless NHF customer contributions and loan activities from the comfort of their homes. It would allow NHF customers to make remittances to the bank by leveraging Internet technology to make the payments through digital platforms such as mobile phones, laptops, tablets, personal computers, etc. Other components include the treasury management system for better management of the bank’s activities related to investment. The data warehousing and business intelligence platform would drive business analytics and provide a data-driven decision-making process using big data to achieve insight into crucial business objects and trends for better strategic management and profitability. Also, the treasury management module of the core banking is crucial because it would help aggregate financial and investment data and improve its accuracy, reduce the bank’s exposure to credit and market risk, and strengthen security. Overall, the implementation of the FMBN core banking solution would mark a historic shift in the style of the bank’s operations. On the back of a modern digital enterprise banking system, the nation’s apex mortgage institution would make a clear break from its largely manual history of operations. The benefits of the technology infrastructure would make it better positioned to deliver quality and timely service to the millions of NHF subscribers there by boosting confidence and by extension participation in the NHF scheme. The bank’s innovative new product additions such as the Diaspora Mortgage Loan and the Interest Free Rent to Own Scheme would be fully provisioned online to ease access. Furthermore, the core banking system would help FMBN as a wholesale mortgage financial institution to forge a more seamless integration with key housing industry stakeholders especially the primary mortgage banks through whom it lends to Nigerians. The broad implication is that it would usher in a new era where FMBN’s operations become more transparent to industry stakeholders, regulatory institutions such as the Central Bank of Nigeria (CBN) and its owners the federal government thereby paving way for increased investment and turbocharging of the bank’s affordable housing interventions to meet the housing deficit. t *LZBBWF JT B IPVTJOH QPMJDZ BOBMZTU CBTFE JO "CVKB BOE DBO CF SFBDIFE WJB IPVTJOHUPEBZ!HNBJM DPN

MONDAY JULY 11, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY JULY 11, 2022

CITYSTRINGS

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

Gombe's Magic Wand as Epicentre of Peace, Development Depsite the security challenges facing the North-eastern region, Segun Awofadeji examines how Governor Inuwa Yahaya turned Gombe to epicentre of peace and development

ombe State, popularly called the Jewel in the Savannah has been described as one of the most peaceful states in the country considering many critical security indices that placed the state high on the ranking. This position was made clear in a report published by Eons Intelligence, a media organisation and a strategic intelligence and advisory group which specialises in analysis of crimes, political, economic risk and opportunities in Nigeria. The report analyses the crime incidences to include kidnapping, and other heinous crimes that result into death of people for the month of January, 2022. The report revealed that, Niger State had the highest crimes rate in the country in the month under review with a total of 396 kidnap victims and 267 total death cases, followed by the North Western States of Zamfara and Kaduna respectively. Despite sharing boarders with the insurgencystriken Northeastern States of Borno, Yobe and Adamawa, Gombe maintains a rather peaceful serenity where the state recorded zero death, and zero kidnapping incidences in recent times. As paradoxical as it may sound, Ismaila Uba Misilli, Director-General (Press Affairs), Government House Gombe, told THISDAY in an interview that "this development is not a mere coincidence but a result of well planned security policies and strategies by Governor Muhammadu Inuwa Yahaya administration". "Recall that, during the 2019 campaigns, Inuwa Yahaya vowed to reduce crime rate to the barest minimum and mitigate security threats, thus guaranteeing the security of lives and property for all people of Gombe State", the Director General declared. The Eons Intelligence's report came at a time when the governor flagged off the Gombe State Security, Traffic and Environmental Corps, GoSTEC Programme in which not fewer than 2,000 youths across the 11 local government areas of the state will be trained and engaged into various developmental activities including security where they will assist the statutory security outfits in the state. Recall also that recently, Gombe State was adjudged as the most peaceful state in the North-East by the forum of State Directors of Security ( SDS) after their meeting in Gombe. This is in addition to the fact that Gombe is the reigning number one state in the ease of doing business ranking in Nigeria. Again, despite the security vulnerabilities and infractions of Gombe State due to its central location in the insurgency-wrecked Northeast region, THISDAY checks revealed that the state is enjoying relative peace. And as paradoxical as it may sound, the development is not a mere coincidence or a work of luck, rather a result of well planned security policies and strategies of Governor Muhammadu Inuwa Yahaya (Dan Majen Gombe). This reporter recalls that before he came to power in 2019, Governor Inuwa Yahaha vowed to reduce crime rate to the barest minimum and mitigate security threats, thus guaranteeing the security of lives and property for all people of Gombe State as was rightly captured in his campaign manifesto. Therefore the creation of the Ministry of Internal Security and Ethical Orientation in September, 2019 was an attempt made to facilitate proper coordination of security affairs in the state. The ministry works handin-hand with all formal and informal security organisations for proper and effective security services. In addition, the ministry trains youths to prepare them for possible recruitment into the military and para-military services at the national level. Aware that majority of the people of Gombe State engage in agriculture, and there had been clashes between farmers and herders which claimed lives and properties, the governor reconstituted Farmers-Herdsmen Prevention and Settlement of Disputes Committee at the state level and re-established same in all the

Gombe State Governor Alhaji Muhammadu Inuwa Yahaya 11 Local Government Areas of the state. This effort promoted understanding and peaceful co-existence between different communities in the state. Another aspect where the state government got it right is Community involvement/participation in security matters. Here Governor Inuwa Yahaha has succeeded in creating a strong platform where community and religious leaders participate in the formulation of security related policies and their implementation. Community policing is part of the security framework that reflects community participation in security matters. Community security committees were put in place and were equipped with dedicated telephone lines for reporting security breaches by members of the public. This has helped security operatives to nib any infraction in the bud. Importantly too, from the outset, the state government under the leadership of Governor Inuwa Yahaya adopted dialogue as an effective strategy for settlement of communal disputes. It's on record that in many instances, disputes on land, tribal or ethnic grounds in the state were settled through engagement of traditional and community leaders. All security institutions require adequate funding to operate effectively. Huge amount of money is allotted every year to support security institutions. Police, Army, Civil Defence and other Security outfits are under Federal Government, but to consolidate on what the Federal Government is doing, Governor Yahaya always supports the security agencies operating in Gombe state. Meanwhile, other non formal organisa-

tions like vigilante and others are also supported in every way possible to ensure effective security service. Also, worthy of mention is the activities of restive youths and political thugs, popularly known as ‘Yan Kalare’ who are known for committing many atrocities and politically motivated violence have been posing a security threat. Governor Yahaya believes that engaging youths will help in reducing violence and increasing human capital in the state. So, in line with this, the Governor Inuwa Yahaya-led Administration has established a Citizenship and Leadership Training Centre at Boltongo of Yamaltu Deba Local Government Area for regular training of youths on early warning systems and quick response to security challenges. Another thrust in that regard is the homegrown human capital development initiative of Governor Yahaya, the Gombe State Security, Traffic and Environmental Corps (G-STEC) which will engage over 2000 youths in the state. This is in addition to collaborative programmes with so many international and domestic development partners to establish training centers, provide technical support and facilities to the teeming youth in the state. With community involvement, youth training and engagement, establishment and strengthening of security institutions and many more integrated approach to security, Governor Muhammadu Inuwa Yahaya was able to create a peaceful state where people live in peace and harmony with one another; thus becoming a model to other states. At a public function recently, Governor

With community involvement, youth training and engagement, establishment and strengthening of security institutions and many more integrated approach to security, Governor Muhammadu Inuwa Yahaya was able to create a peaceful state where people live in peace and harmony with one another; thus becoming a model to other states

Yahaya spoke on how his administration has taken effective measures to maintain the prevailing peace in the state, and turn Gombe to epicentre of development despite the insecurity in the North-east region. He stated this while delivering a keynote address at the 2022 annual security conference and recognition awards ceremony organised by People’s Security Monitors, where the governor bagged the Security Ambassador of Nigeria ( SAN) award. The event, which took place at the National Merit House in Abuja had in attendance security top brass, enthusiasts and diplomats. Governor Inuwa, who chaired the event said “We thank God for helping us as far as the issue of security is concerned. We are in the midst of the north-east, sharing borders with the frontline states of Borno, Yobe and Adamawa. So, we’ve tried as much as possible to manage security in Gombe state. We are happy and by the grace of God, we shall try to sustain that". The Governor acknowledged the support of security agencies in facilitating peace and harmony. He said despite religious, social, ethnic and other differences that normally cause friction among the people, Gombe State has been able to surmount the challenges with the understanding of its people. The governor disclosed that the government adopted a holistic approach by enhancing its internal security architecture. “ In addition to the novel ministry of internal security and ethical orientation which we set up on coming on board in 2019, we have security management committees in place, comprising traditional rulers from the ward, to districts, emirates and chiefdoms, up to the state level. Therefore, we share information and manage whatever decision we take, and whenever there is an issue, we nip it in the bud without allowing it to get to an alarming level. Historical memories have revealed that despite the highly sensitive and inflammable nature of religion in the country, the perception of the citizens of Gombe and by extension the entire State regarding religious tolerance is moderately liberal. This religious tolerance played out when the Christian Association of Nigeria, CAN in conjunction with the Pentecostal Fellowship of Nigeria, PFN, Gombe State chapters organised a 2-day mega crusade tagged "Light Up Gombe". The peaceful atmosphere that enveloped the two days Light Up Gombe Crusade was not achieved overnight but through a long term systematic plan and processes engineered by Governor Inuwa Yahaya. One of such strategies was the establishment of the Ministry of Internal Security and Ethical Orientation alongside other numerous physical and moral support aimed at boosting security network and apparatus in the state and guaranteeing peace, law and order. Overtime, the idea of when to worship, how to worship and where to worship have brought about suspicion, acrimony and animosity especially between the two major faiths of Islam and Christianity in the state. Indeed, the peaceful, harmonious and warm welcoming atmosphere that greeted the two days Gombe Light Out crusade was infact incredible and an indication that Nigerians can co-habit together irrespective of their religious affiliations. At the moment, Gombe has been described as one of the most peaceful states in country as it recorded zero crime rate in the month of January amid critical security indices according to a report by Eons Intelligence, a media, strategic intelligence and advisory group, in its January analysis of crimes, political, economic risk and opportunities in Nigeria. The unrelenting effort of the Gombe State government under the leadership of Governor Muhammadu Inuwa Yahaya towards maintaining peace and tranquility in the State has once again paid off and reinforced the much touted Gombe as a cosmopolitan state where all men and women of goodwill, good conscience are welcome for the social, economic and spiritual benefit of all.

T H I S D AY ˾ MONDAY JULY 11, 2022

SECURITY

The Raging Controversy over Late Bank Anthony’s Estate For some weeks now, the news space has been fraught with the battle over the estate of late Mobolaji Bank Anthony. For Queen Irene Cole, who took on the case as one of the trustees, it has become pertinent to shed more light on the matter giving the recent dissenting voices from the some descendants of the late sage and philanthropist. In an interview with select journalists, she said her initial reaction was to ignore the claims of the descendants but for the fact that her silence will definitely worsen the plight of beneficiaries of the will that have been denied for long. Precious Ugwuzor brings excerpts:

ecently, some people that claim to be descendants of Sir Bank Anthony disowned you and condemned your activities on the issue of his will, what is your take on that? The first and foremost statement on their press release that I am not a trustee of the estate is a lie. I am Queen Irene Cole, the executive trustee of the Estate of Sir Mobolaji Bank Anthony, first by divine favor and with the judgment of justice S.A onigbanjo. Whoever that claims to be a descendant of Sir Mobolaji Bank Anthony must be aware that there is a lead trustee of the estate who is an elder member of the family that was nominated in Sir Mobolaji Bank Anthony's will and who is now in charge of the estate. So, any group of people claiming to be descendants of Sir Mobolaji Bank Anthony should be aware that the dead spoke 29 years ago but the people whom he nominated and trusted them to carry his will did not tell the fourth nominated trustee until I started searching for the truth about what happened to the estate. Mr. Babatunde Oluwajimi Bank Anthony claiming to be the grandson of late Sir Mobolaji Bank Anthony could really be his grandson. However, the elder which he claimed to be his grandfather nominated an elder and who has been received legally and probated, why is he not following due process of law? Now, 30 years later, the spirit of Sir Mobolaji Bank Anthony declared in his will which leader he wants to handle his Estate. Please note that the estate of Sir Mobolaji Bank Anthony is completely distinct from the family of Sir Mobolaji Bank Anthony. What do you mean? In most estates, the trustees use their discretion to handle the affairs of either the family or the beneficiaries so as not to confuse the cooperate entity that demarcates what family wants to do and what the owner wants to do. In Sir Mobolaji Bank Anthony Estate, he has specified distinctly the beneficiaries of his Estate and they include but not limited to: Ijebu-Ode Grammar School, Ogun state –The SIR Bank-Anthony Library, devised quarterly benefits for equipping the library, SIR Mobolaji Bank-Anthony Cancer Research Funds at the University of Ibadan, Oyo state, The SIR Mobolaji Bank-Anthony Graduate Fellowship Scholarship for Eurology, Nephrology and Forensic Medicine at the University of Ibadan, Oyo state, Nigerian Academy of Science c/o The Facultyof Science, University of Lagos, Akoka, Lagos –cash benefit yearly, The office of the Vice-Chancellor, Ahmadu Bello University, Zaria, Kaduna; The Nigerian society for the blind, Paccelli school for the blind, Boys Scout of Nigeria, National Post Graduate Medical College of Nigeria, Lagos (Cash benefit yearly), Provisions made to build a school in Lagos to be called The Alhaja Abiodun Bank-Anthony girls school, a mosque to be developed from one of Sir Bank’s properties to be called Alhaja Rabiatu Mosque and many others. So, what really happened? Sir Banks gave the trustees leverage of discretion as to handle affairs. When a group of people get together and disobey the law in Nigeria without rhyme or reason than to muddle up since they have no legal entity. If anyone calls me a fraudster, are they not supposed to expose where and when the offense took place? Nigeria has law even though we are seriously challenged but the only reason I did not serve them contempt of court actions is because they claim to be descendants of my Godfather. I do not have any enemies with the children of Sir Mobolaji Bank Anthony. The onslaught on my character was heavy, They even tarnished my image in an investment I made in Ghana- 441 hectars of land to build a resorts. I refer to the article of Wale Ojo Lanre on September 15, 2009 which will give you the true story-the challenges after such an aspiration to build a resort. I now face the challenges of cancer. I not only survived it, I learnt to walk, talk and do everything again in life. I still own my

Sir Bank’s Estate is in very good hands and there is no need for anger and bitterness. There is room for everyone on the table. If you are ready to work hard, join us. If you are not, stop spreading lies and rumors and get legal advice. We are working for the legacy of Sir Mobolaji Bank-Anthony in blessed memory.

Queen Irene Cole

Late Mobolaji Bank Anthony title of 441 hectars till date despite all aggression. Everything that has been happening is by His grace, please think about it. Funmiade Bank Anthony did an interview on July 13, 2019 telling the whole world that Sir Banks died with 48 properties and didn't give her family anything. God Almighty opened the door of one cooperate beneficiary and they gave me a power of attorney because we found out that the people nominated by Sir Mobolaji Bank Anthony didn't even bother to get probated and have been deceiving the family for over 30 years and haven't paid any beneficiary. This elder is now in the custody of Alagbon FCID Ikoyi. These children going on social media to destroy my name don't realize that legally, they have no claim to anything unless they obey what Sir Banks wants them to do for the fourth and last trustee, to obey and follow the fourth nominated trustee in the Will page 2, who is an elder of the family. Other elders, now deceased, and the remaining one is now corrupting these children

with money telling them that I want to take over the money for the beneficiaries and he can share properties to them. He has been lying for 29 years, he will continue to lie. There is no way without being probated that he can structure the estate. I have explained to the children that they don’t have to worry about the real beneficiaries Sir Banks gifted these even when they see me as an enemy. I am not. They have to team up with the lead trustee that is legally appointed by the law by Justice S.A Onigbanjo. The real enemies of the Estate and or the family want to shut me down. All the social degradation of my name is because they know that the estate is coming for the money for the beneficiaries. The registrars and the banks and those harboring properties that don't belong to them are really worried about me and they should be because after such a social media onslaught, I know who my enemies are and I will not challenge the children and Sir Banks. All the newspapers that don't quickly extend their apologies for false information are those whom I hold responsible within seven days without a retraction or apology, they will make me very rich. I mean additionally extremely rich and or make themselves bankrupt because the children will never be liable in my eyes because Sir Banks is my Godfather. They said you are not a trustee of the estate…. I say to all the family members of Sir Banks, you are his descendants and if you follow the law that your grandfather provided for you to read and follow in his will. That is if you claim you are children and want to obey the Law. Your grandfather has appointed a leader that anyone can access in your grandfather or father's will and you want to join with a Criminal to give you properties that he did not devise to us by law because of gratification. This is bad. Forget about the deceit by the elder, this is now about you. You have to follow the law because the new Lead is a mother and not a trouble maker and is doing all to make sure that the family is intact. There is no reason to be bitter and angry. The Judge has spoken. God ordained it for no appeal. We should all join hands together and should work together.

Sir Mobolaji Bank Anthony, in his inﬁnite wisdom, programmed a Will that can beneﬁt millions of Nigerians for eternity, not one generation not two generations but for eternity

What about this elder that you kept on mentioning? The elder that keeps deceiving the children especially Abubakar is already in custody of the Federal government high court with charge no. LD/181034 2020. I hereby extend my sincere apologies to the team of legal officers that have been working only by his grace but without money. I apologize on behalf of my Godfather because I know that with about three senior advocates of Nigeria, millions of naira spent and everything that has transpired, I, Queen Irene Cole, personally apologize to the lawyers and also if these barristers were not contracted by God, there is no way they can be victorious. They have been working for close to four years scraping from my pension and any little recovery to sustain the estate. The Estate profusely apologizes for the defamation of your names. For anyone to recover an estate that had been hijacked for over 30years ago with all legal ramifications, it's strictly divine especially because of the kind of money the fraudulent trustees have been spending. I declare to the world that Sir Mobolaji Bank Anthony, in his infinite wisdom, programmed a Will that can benefit millions of Nigerians for eternity, not one generation not two generations but for eternity. Unfortunately, with all the ocean of wealth he provided, one of the surviving trustees was taking teaspoon of money and depreciated all the properties. There is no way he could have worked legally being unprobated with any of the registrars or banks so we now have a situation where beneficiaries have never been paid. The registrars and banks are so used to keeping Sir Bank’s money that they thought that when we got the court victory, they would not comply. The corruption in the banks and the registrars are deep seated. We must realize that this is a crime that has been over 30 years but for the interview by Funmiade Bank Anthony making a false claim because she had been deceived to believe that the corrupted elders had purported false claims with regards to the will and stated that Sir Banks left this world without leaving his family anything even with 48 properties. I want everyone to understand me, I know most people that knew Sir Banks knew that he was an honorable man. The so -called families that are now destroying me on social media claiming that I am a fraudster, where were they? I know many Nigerians benefited from the anointing of Sir Mobolaji Bank Anthony so I kept waiting when the negative reviews that followed that interview would be challenged, negated. I thought even the government would look into a response into people calling him negative names but nobody answered, I was depressed, I spoke to Funmiade Bank Anthony when eventually I found the will and the truth at probate registry. I don't know what spirit took over us to reveal and recover the truth. Funmiade and Abubakar agreed with us and we engaged a lawyer at the Sheraton hotel though we didn't have any money except my pension but the lawyer, Barrister kayode Fasetire, agreed to do pro bono(without fees). What are you doing next? Sir Bank's Estate is now enforcing the law and we want everyone to know our legal team, our investigations team, our administrative team, our field team, our development team to name a few. We are all ready to enforce the law in any of the properties, registrars and or banks that think they are going to face us through me because they are not just facing Queen Irene Cole, they are facing an Estate and this is Sir Mobolaji Bank Anthony recovered Estate. Anyone who wants to go to jail should feel free.

T H I S D AY ˾ MONDAY, JULY 11, 2022

BUSINESS/MONEYGUIDE

InfraCredit,AFD SignTechnical Assistance Agreement to Support Sub-national PPP Projects In Nigeria InfraCredit, and the Agence Française de Développement (AFD), the development agency of the French government and the main implementing agency for France’s official development assistance, have signed a Technical Assistance Financing Agreement. According to a statement, AFD will provide project preparation and development technical assistance support for InfraCredit’s prospective pipeline of public private partnership (PPP) projects in selected state governments that require support to improve their bankability and attract private sector participation. Thus, it will enable them reach financial close and access long term local currency financing from the domestic debt capital markets. The successful implementation of the project will support

eligible projects with technical, legal and feasibility studies for PPP projects to be selected in agreement between InfraCredit and AFD. This will enable eligible sub-national infrastructure projects reach financial close, support new job creation, and enable more capital markets instruments to be issued to institutional investors. InfraCredit’s Annuity PPP Guarantee was developed to facilitate the sustainable financing of new infrastructure projects alongside subnational governments in Nigeria. It is done through technical assistance and catalytic capital to accelerate state supported and private sector led development of bankable, revenue generating infrastructure projects under design, build, finance, operate and maintain (DBFOM) arrangements by the private partner, supported by

a transitional annuity revenue assurance by the state government to be replenished from the future cashflows generated from the project. Such eligible projects could benefit from InfraCredit’s guarantee, which can mobilise up to 20-year local currency financing from the domestic debt capital markets. Speaking on the Agreement with AFD, the Chief Executive Officer of InfraCredit, Chinua Azubike, stated that, “To date, InfraCredit’s guarantees have enabled the issuance of up to USD266 Million (NGN Equivalent) of local currency infrastructure bonds, of which 61% include PPP projects, however an increasing pipeline of sub-national infrastructure projects require project preparatory support to deliver well-structured bankable projects that can access the debt capital markets.

L-R: Country Director of Agence Francaise de Developpement(AFD) in Nigeria, Xavier Muron, and CEO of Infrastructure Credit Guarantee Company Ltd ( InfraCredit), Chinua Azubike, exchanging documents after signing a technical assistance agreement in Lagos…recently

MARKET INDICATORS

GAIN Partners DBN to Train 200 Women on Entrepreneurship Kuni Tyessi ÓØ ÌßÔË Grand Africa Initiative (GAIN), has secured a partnership with the Development Bank of Nigeria (DBN) to build and strengthen the entrepreneurship skills of 200 Nigerian women. Executive Director of GAIN, Ms. Chinwe Okoli, in a statement explained that the entrepreneurship course will run for six weeks, starting in July, thus calling on interested women to submit application via www.grandafrica. org or www.bit.ly/GAINDBN. She also explained that the training will cover areas critical to

the success of MSMEs including ideation, legal services, branding, marketing, communication, accounting, modeling, staffing, structure, etc. She said: “this program, women empowerment, is in line with one of the focus areas of GAIN. The participants will benefit from a faculty of experts in various aspects of the business. They would enjoy training and mentorship sessions some of which will be held virtually. “Eligible for the program are women who have a business or an idea, and are between 22 to 45 years of age, and have a demon-

strable interest in business, access to the internet-enabled device, and electricity to participate in the program. Meanwhile, Managing Director, DBN, Dr. Tony Okpanachi, described the partnership with GAIN as a major achievement and a step towards the empowerment of women. He said: “We are excited about this initiative which speaks directly to our mandate of building the capacity of MSMEs. The GAIN initiative has become imperative to reach as many women as possible by leveraging technology and promoting gender equality.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

NDLEA Apapa Decorates Okonkwo as Anti-drug Patron

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

Chinedu Eze

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

The National Drul Law Enforcement Agency (NDLEA) has decorated Dr. Emeke Daniel Okonkwo (popularly known as E-Money), Chairman/Chief Executive Officer, Emmy Cargo Bonded Terminal as a Patron of the War against Drugs Abuse (WADA) The decoration was done by NDLEA Apapa Special Area Command. The agency said WADA is the pet advocacy program of Brig. General Mohamed Buba Marwa (Rtd.), Chairman/Chief Executive Officer, NDLEA which adopts a whole-societyapproach in the fight against Drug Abuse and Illicit Drug

Trafficking. Commander of Narcotics and Area Commander Apapa, Inalegwu Ameh at the decoration noted that E-Money in addition to being a key-player in the maritime industry commands a massive social media followership, which is a veritable platform for changing thinking in favour of drug use prevention. “You are by this decoration enjoined to lead the charge against drug abuse and illicit drug trafficking,” the Area Commander maintained, adding “the maritime industry where you are a key player is being invaded by unscrupulous drug merchants to ship in drugs. And the youth

population that you are one of the influencers is the most vulnerable age group.” The agency said in a statement that Okonkwo was full of appreciation to NDLEA for considering him worthy of what he described as “a mark of great honour”. “Permit me to note that this decoration is not an accident. I have had cause, many years back to hand over some unscrupulous elements who wanted to use my premises to ship in drugs. I would like to assure you that I am committed to taking this anti-drug crusade to millions of my followers, especially the 12 million Nigeria youths who follow me on social media, ”he promised.

Stakeholders Set to Hold Policy Dialogue on Nigerian Health System Against the backdrop of how countries including Nigeria were particularly affected and caught unprepared for a pandemic of the speed and scale witnessed by the COVID-19 pandemic, the leading advocacy health platform, Nigeria Health Watch, is set to host a health security forum. Themed, “Decentralising Health Security, Lessons from COVID-19,” the forum will take place on the 14th of July 2022 in Abuja, Nigeria, and will bring together stakeholders from across the national and subnational level, the private sector, development partners/donors,

and civil society organizations. COVID-19 has had wideranging health and socioeconomic impact on societies globally, setting back some of the efforts and health gains as countries continue on their path towards achieving universal health coverage (UHC). Speaking about the forum, Managing Director, Nigeria Health Watch, Vivianne Ihekweazu, said: “We cannot overlook the fact that the health sector in Nigeria has been historically underfunded. The COVID-19 pandemic revealed how much more work and investments need to be made,

to strengthen our health system, enabling the country to be better prepared to respond to future epidemic outbreaks. Vulnerable and marginalized populations were hit particularly hard by the pandemic and pre-existing inequalities were further exacerbated. We are hosting this health security policy dialogue because we need to ensure that the lessons learnt during the COVID-19 pandemic are applied to future epidemic outbreaks and the strengthening of the country’s health security architecture becomes a national priority”.

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY MAY 30, 2022

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

T H I S D AY ˾ MONDAY, JULY 11, 2022

MARKET NEWS

Stock Market Down N139bn on Profit-taking in FBN Holdings, Others Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) closed on a negative note from the prior week in four out of five trading sections due to continued sell-off in some stocks by investors who are beginning to position for the earning season. The market capitalisation dropped by N139billion Week-on-week (WoW) to close

at N27.803trillion, while the NGX All-Share Index shed 0.53 per cent W-o-W to close at 51,557.41 basis points. Particularly, sell-offs in International Breweries, Union Bank of Nigeria (UBN), FBN Holdings (FBNH), FCMB Group and NASCON Allied Industries led the weekly loss. Sectoral performance was largely bearish. The NGX Banking index declined by 0.31 per cent. NGX Insurance

P R I C E S MAIN BOARD

F O R DEALS

index recorded a weekly loss of 2.53 per cent, while NGX Oil & Gas index dipped by 0.41 per cent. On the other side, the NGX Consumer Goods Index and NGX Industrial Index rose by 1.42 per cent and 0.15 per cent respectively W-o-W. The market breadth for the week was positive as 31 equities appreciated in price, 26 equities depreciated in price, while 99 equities remained unchanged.

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

QUANTITY TRADED

VALUE TRADED ( N )

Academy Press led the gainers table by 48.82 per cent to close at N1.89, per share. UPDC followed with a gain of 20.39 per cent to close at N1.24, while Learn Africa went up by 11.11 per cent to close to N2.50, per share. On the other side, R T Briscoe led the decliners table by 22.73 per cent to close at 34 kobo, per share. International Breweries followed with a loss of 14.29 per cent to close at N5.40, while MRS

T R A D E D MAIN BOARD

A S

Oil Nigeria declined by 11.08 per cent to close at N14.45, per share. Overall, a total turnover of 822.404 million shares worth N10.366 billion in 20,643 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.348 billion shares valued at N24.487 billion that exchanged hands previous week in 22,155 deals. The Financial Services Industry (measured by volume) led the

O F

activity chart with 491.270 million shares valued at N 4.499 billion traded in 9,961 deals; contributing 59.74 per cent and 43.40 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 81.698 million shares worth N218.285 million in 605 deals, while the Consumer Goods Industry pulled a transaction of 55.052 million shares worth N855.318 million in 3,093 deals.

0 8 / 0 7 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

T H I S D AY • MONDAY, JULY 11, 2022

PROFILE

Shettima: A Pearl from North-East

Shettima

Michael Olugbode Born September 2, 1966, to the family of Sir Kashim Ibrahim, a Kanuri from Maiduguri, the Borno State, and married to Nana Shettima, with children, Kashim Shettima comes to the stage with a well-off resume. He attended Lamisula Primary School, Maiduguri from 1972 to 1978; Government Community Secondary School, Biu in southern part of Borno State from 1978 to 1980; transferred to Government Science Secondary School, Potiskum (now in neighbouring Yobe State), where he completed his secondary education in 1983. Shettima studied at the University of Maiduguri and earned a Degree (BSc) in Agricultural Economics in 1989. He had a year compulsory youth service at the defunct Nigerian Agricultural Cooperative Bank, Calabar, capital of Cross River State in South-south, Nigeria, from 1989 to 1990. He further obtained a master's degree (MSc) in Agricultural Economics in 1991 at the University of Ibadan. Shettima joined the University of Maiduguri as a Lecturer with the Department of Agricultural Economics and was in the academia from 1991 to 1993. He was later to join the banking sector in 1993, when he was employed by (now defunct) Commercial Bank of Africa Limited as head of accounts unit at the bank's office in Ikeja, Lagos State. He left the bank in 1997 to African International Bank Limited as a Deputy Manager and rose to become a Manager in 2001. In 2001, he moved to the Zenith Bank as head of its main branch in Maiduguri. It was from the Zenith Bank that he was picked by Senator Ali Modu Sheriff to become first the Borno State Commissioner for Finance. He later traverse the Ministries of Local Government and Chieftaincy Affairs, Agriculture, Education and Health, where he cut his teeth in public administration. He became the gubernatorial candidate of the All Progressives Congress (APC) after the assassination of Modu Fannami Gubio, who was already picked as the standard bearer

of the party. Shettima’s election as the party’s flag bearer put paid to his fledging career at the Zenith Bank, where he had risen to Senior Manager/ Branch Head; Assistant General Manager (AGM)/Zonal Head (North-East), Deputy General Manager/Zonal Head (North-East) and the General Manager as he had to drop his resignation to contest for governorship at the 2011 election. Shettima, who was elected with a vision to transform Borno, could not however turn his dream into reality as Boko Haram almost overran the state and at a point in time, controlled a larger stretch of the state. At a particular time in the history of the state, it was like a bet between him and Boko Haram, who would win the battle of building and destruction. Whenever he built, Boko Haram would destroy, and the battle has yet to subside even after he left office. He limited himself to Maiduguri, the state capital and a few other local governments and he was able to make Maiduguri, a place of pride in spite of the crisis. Shettima, a highly emotional person, could not but cry in those days, when almost on a daily basis, he had condolence visits to make and subjects to bury. No wonder he became popular with few challenges of the military and the C-in-C, President Goodluck Jonathan, whom he fell out with during the kidnapping of the Chibok schoolgirls. Many strong supporters of Jonathan largely still see Shettima as an instrument used by the APC to rubbish Jonathan. This would take time to change. Shettima and Tinubu became soulmates, when Shettima was seeking his reelection in the days of the formation of APC and Tinubu stood by him to ward off the threat from Ali Modu Sheriff, who was waiting to take a pound of flesh off him. It was this that, perhaps, pushed Sheriff into the PDP and support for Jonathan that failed and he later retraced his steps back to the APC. Shettima, who was governor of Borno State between 2011 and 2019, ran his government on

the similar template used by Tinubu in Lagos. Among his closest aides were an Ibo Christian from Anambra State in the Southeast, an Urhobo Christian from Delta State in the South-South, a Fulani man from Gombe in the northeast and a Hausa man from Zamfara State in the northwest were all his image managers. He also had Yoruba Christians from the Southwest as friends. Shettima's leadership credentials have attracted positive recognition within and outside Nigeria. He emerged the 2014 Governor of the Year (Leadership Newspapers), Governor of the Year, 2015, (Nigeria Union of Journalists, national body); Governor of the Year, 2015 (NewsWatchTimesNewspapers); Governor of the Year, 2015 (Vanguard Newspapers); Governor of the Year, 2016 (Tell Magazine); 2017 Zik Prize for Leadership; Kaduna NUJ Award for courage and exceptional leadership (2017), FCT NUJ Merit Award for exceptional Leadership, 2017. After the completion of his stewardship in Borno, he left for the National Assembly as a senator representing Borno Central and has not performed badly. There is hardly any arguments you can win against Shettima, whose first hobby is reading and the second, memorising all he read and third, delivering what he read. The issue of Tinubu’s Presidency threw him up again into National limelight, when he was among the first known voices in support of the now presidential candidate of the APC. He was among the first voices from the North to say it amounted to injustice if the power was not allowed to move to the South, and he was surely at his oratorical best, when at a launch of Tinubu presidential aspiration, he said the job of the president is not that of bricklaying. Senator Shettima, could rightly be said to be the first proponent of “Emi lokan” (It is my turn to rule, which Tinubu came up with when he saw power slipping away from him). He had said at the Abuja launch of the Tinubu Support Groups Management Council (SGMC), that Tinubu deserved the right of

first refusal for his diligence in birthing the APC and securing the 2015 presidential ticket for President Muhammadu Buhari, and called on the president then to reward the loyalty of the former Lagos governor. When the campaign was getting tougher in the APC and some were ready to opt for either the Vice President, Yemi Osinbajo or the Senate President, Ahmad Lawan, it was Shettima that came out to take the bullet and described the presidential contest as not one for selling ice-cream and tomatoes. “Nobody has doubted the competence of Proessor Osinbajo. He’s a very cerebral person, but we believe that in terms of intellect, capacity, reach and the ability to move this nation forward, and most importantly, for us to win the upcoming election, the best candidate that the APC has is Asiwaju Bola Ahmed Tinubu. “Mind you, the dynamics has changed with the emergence of Atiku as the candidate of the PDP. We need someone who can match and even overshadow him in terms of brand name recognition, in terms of capacity. This is why we are championing the cause of Asiwaju Tinubu. Osinbajo is a good man; he’s a nice man. But nice men do not make good leaders, because nice men tend to be nasty. Nice men should be selling popcorn, ice cream. “But he’s a very decent person. I can’t doubt that. He’s my personal friend and I’ll rather not comment on his person. But he’s a very decent man. That I can tell you.” Shettima, many believe, merited his position as he saw ahead of others, and was quick to identify with Tinubu and was ready to mount the podium to sell what he believes as well asgo to the public to take the bullet for him, when the situation calls for it. His choice as the APC vice presidential candidate is a reward for dedication and support, in addition to competence and capacity. Perhaps, the latent pearl in Shettima has been unearthed for the nation to see what still made Borno, in spite of all the crises of Boko Haram, home to many.

T H I S D AY • MONDAY, JULY 11, 2022

NEWSXTRA

EIDL-ADHA PRAYERS… L-R: Emir of Kano, Alhaji Aminu Ado Bayero; Governor of Kano State, Dr. Abdullahi Umar Ganduje; Senator Kabiru Gaya and Senator Jibrin Barau, during the Eidl-Adha Prayers at Kofar Mata Eid Prayer ground, in Kano… recently

Lawyers Ask Court to Nullify Acquisition of Union Bank by Titan Trust Bank Wale Igbintade Some senior lawyers have approached a Federal High Court in Lagos, asking the court to nullify the approval given by the Central Bank of Nigeria (CBN) for the acquisition of Union Bank by Titan Trust Bank. The lawyers led by Mr. A.M Makinde, for Dr. Charles Mekwunye, in a motion sought a declaration that the CBN's approval of the transaction was in flagrant disrespect to the authority, sanctity, dignity, and powers of the Court and therefore unlawful, unconstitutional, null and void. Specifically, they contended that the sales of Union Bank to Titan Trust Bank by Union Global Partners and Atlas Mara Ltd did not follow the extant laws of Nigeria regulating such transactions. Mekwunye had earlier dragged Union Global Partners Ltd (1st defendant) and Atlas Mara Limited (2nd defendant ) to the court over the sales of their majority shares in Union Bank (4th defendant) to Titan Trust Bank (3rd defendant). In the suit, Mekwunye, also

a Union Bank shareholder, had contended that Union Bank's sales to Titan Trust Bank by Union Global Partners and Atlas Mara Ltd did not follow extant laws of Nigeria regulating such transactions. He also contended that Titan Trust Bank which was granted a banking licence two years ago with two branches has not broken even and does not have the financial capacity to acquire Union Bank. According to court processes filed by Mekwunye, the sale of the combined shares of Union Global Partners and Atlas Mara Ltd, in Union Bank were made by private treaty instead of being traded on the floor of the Nigerian Exchange Limited, as required by law thereby making the transaction invalid and unlawful. The CBN was joined in the suit number FHC/L/ CS/674/2022 as a co-defendant and was serviced with the court processes and interlocutory injunction seeking a stay of all actions on the transaction pending the determination of the suit. However, while the suit was

still pending before the court, the CBN announced the official approval of Union Bank sales to Titan Trust Bank. Mekwunye's motion was brought pursuant to Order 35 Rules 1 & 2 of the Federal High Court Civil Procedure Rules 2019 and Section 36 (1) of the Constitution of the Federal Republic of Nigeria, 1999. The plaintiffs are, "an order of Mandatory Injunction for a return to status quo by setting

aside the approval of the Sale and Transfer of shares of the 4th Defendant by the 1st and 2nd Defendant to the 3rd Defendant by the 5th Defendant having been unlawfully approved in contempt of Court. "An order of Mandatory Injunction nullifying all steps and/or measures taken by the defendants to consummate the transaction of transfer and sale and/or acquisition of shares of Union Bank by

The Institute for Peace and Conflict Resolution (IPCR) has enjoined Nigerians to remember the importance of unity, peace and security in a nation’s development. The Director-General of IPCR, Dr Bakut T. Bakut, in a statement to mark the Eld-el-Kabir, said: “As Nigerians join the rest of the world to mark this year Eldel-Kabir, I enjoined the citizens to remember the importance of unity, peace and security in a nation’s development.” Bakut while urging Nigerians to keep the flag of unity high,

stressed that unity and peace remain the hallmarks of a progressive nation. He noted that insecurity was an aberration to any nation that has the drive and desire to grow and break the vicious circle of underdevelopment. The Director-General urged Nigerians to use this period of Eid-el-Kabir celebration to pray for the peace, unity and progress of the nation. He reminded fellow citizens that nation-building was the responsibility of all and therefore, every Nigerian should rise to the occasion to build a Nigeria of

Respondent as evidenced by the 4th Defendant’s circular of June 2, 2022, inspite of the suit pending before the Court, including the Motion on Notice for Interlocutory injunction filed on May 11, 2022 which is pending before this Court. "An order that the Defendants’ failure and/or refusal to maintain “status quo” in the pending suit before the Court undermines the powers and authority of the Court."

Candidates Jostle to Replace UK PM Johnson in Packed Race The contest to replace British Prime Minister Boris Johnson gathered pace yesterday as five more candidates declared their intention to run, with many pledging lower taxes and a clean start from Johnson's scandalridden premiership. Johnson had on Thursday said he would resign as Prime Minister, after lawmakers and cabinet colleagues rebelled over his handling of a series of scandals, including breaches of lockdown rules in gatherings at his Downing Street office.

He said he would stay on until a new leader was elected. A member of a Conservative party committee which sets the rules for leadership elections said on Sunday the final result would be announced in September. According to Reuters, Junior Trade Minister, Penny Mordaunt officially declared she was running on Sunday, joining Transport Secretary Grant Shapps, Finance Minister, Nadhim Zahawi and former ministers Jeremy Hunt and Sajid Javid, who had announced their candidacies for

Eid El Kabir: IPCR Charges Nigerians to Embrace Unity, Peace, Seeks Improved Security Michael Olugbode in Abuja

the 3rd Defendant in flagrant disrespect to the Court. “An Order of Mandatory Injunction returning the parties to the status quo as at the first date CBN appeared in court through its Counsel in response to the Originating Summons of May 24, 2022. "An order that the CBN is in contempt of Court for approving the unlawful transaction, resulting in the 3rd Defendant's acquisition of the 4th Defendant/

our dream. He said: “As an Institute, we are aware of the enormous challenges bedeviling our country, nevertheless, we should keep hope alive and continue to have faith that a new Nigeria will rise from the ashes of these challenges. Let our thoughts and actions be peaceful, tolerant, and receptive towards one another as this is the only organic means to change the dangerous narrative that has eaten deep into our social fabrics and national cohesion.” IPCR also urged Nigerians to take a sober reflection, and connect their hearts to God in

the spirit of the season for the restoration of our dear country. The Director-General observed that if over 200 million Nigerians would stand for peace henceforth, then the implication was that a circle of peace would encircle the nation and fill up not only the violent spaces but also, reposition the country on the path of peace and progress. The Director-General implored Nigerians to continue supporting the effort of the president and security agencies by providing the right and timely Intel to the appropriate authorities to enforce action.

the leadership in time for the Sunday newspapers, taking the total to nine. "This is a critical inflection point for our country. I believe that a socialist or socialist-led coalition government at the next election would be a disaster for the UK," Mordaunt said in a statement. "We must win the next election." The Conservative Party's 1922 Committee of legislators, which sets rules for the party in parliament, would set out the exact timetable after a meeting on Monday. Bob Blackman, an officer on the 1922 Committee's executive, said that nominations would close on Tuesday evening, followed by a process to whittle candidates down to a final two by July 21. Party members would elect a new party leader over the summer, who would then become prime minister. "We'll (select the final two) by the 21st of July, to allow the party membership sufficient time to have husting sessions and a postal ballot to then lead to a new leader being in place by the fifth of September," he told Sky News. Entering the race, Shapps, Zahawi, Hunt and Javid all pledged tax cuts, setting them against current favourite, former finance minister Rishi Sunak, whose budget last year put Britain on course for its biggest

tax burden since the 1950s. "I believe in a lower tax, lower regulation, cut-the-red-tape economy," Shapps told Sky News, adding he would hold an emergency budget to bring forward a one pence reduction in the income tax rate which is currently planned in 2024, freeze a planned rise in corporation tax and look to reduce the size of the civil service. Hunt, a former foreign minister who came second in the leadership contest in 2019 when Johnson came to office, and Javid, who twice resigned from Johnson's government, both said they would cut corporation tax to 15 per cent. Hunt said no Conservative should either raise taxes or offer unfunded tax cuts. Asked if cutting taxes would lead to inflation, Hunt said: "I don't agree with that when it comes to business taxes." "If you stimulate consumer demand, when there's some demand-led inflation, there is that risk, but we must bear down on inflation. That's why I'd be very careful not to promise (tax) cuts that would stoke inflation," he said. The Mail on Sunday said Foreign Secretary Liz Truss would launch her campaign on Monday with a promise to cut taxes and tackle the cost-of-living crisis, while one of her main rivals for the role, Defence Secretary Ben Wallace, has ruled himself out.

T H I S D AY • MONDAY, JULY 11, 2022

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OBSERVING EID-EL-KABIR PRAYERS… L-R: Mr. Tunde Fagbenro; Mr. Wahab Okoya; Chief Rasaq Akanni Okoya; Alhaji Tajudeen Okoya and Alhaji Adigun Osho during the Eid el-Kabir prayer to mark Muslim festival held at Olorunishola MUBO PETERS Estate in Lagos... yesterday

INEC to Decide on Continuous Voter Registration Wednesday Chuks Okocha in Abuja The Independent National Electoral Commission (INEC) would on Wednesday, after the ruling of a Federal High Court, presided over by Justice Mobolaji Olajuwon, decide on the continuous voter registration (CVR) in the country. This was disclosed exclusively to THISDAY by the INEC National Commissioner in charge of Information and Chairman, Voter Education, Festus Okoye. He said the suit before the Federal High Court, has been adjourned to 12th July 2022, for judgement, adding: "So, the commission will take a final decision on the terminal period of the CVR after the judgement." Justice Olajuwon’s Federal High Court, Abuja, had on the 20th of June 2022, granted an exparte application restraining the Commission from stopping the CVR on the 30th day of June 2022

or on any other date pending the hearing and determination of the Motion on Notice filed by SERAP and other individuals. Tomorrow, Tuesday, July 12, is a public holiday, therefore, it is expected that the matter would be heard the next day being Wednesday, due to the urgency of the suit to the forth coming general election next year. Ordinarily, the CVR ought to have ended on June 30, since the online registration ended May 31, save for the restraining order by the Federal High Court in Abuja. According to Okoye, "It is pertinent to point out that section (9)(6) of the Electoral Act makes it mandatory that the registration of voters, updating and revision of voters shall stop not later than 90 days before any election covered by the Act." He said the the operative word in section 9(6) was not later than,

Court Restrains Oyo Govt, Firm from Meddling with Contract A High Court of the Federal Capital Territory in Abuja has restrained Craneburg Construction Co. Limited, Oyo State Government and two others from meddling with a contract awarded to ENL Consortium Ltd pending the hearing and determination of a Motion on Notice and the substantive suit. Justice Enobie Obanor gave the ruling after listening to the plaintiff’s counsel on a motion ex-parte numbered FCT/HC/M/8903. It was pursuant to the suit numbered FCT /HC/CV/2133/ 2022 in the case of ENL Consortium Ltd. V Craneburg Construction Co. Ltd and four others. The counsel told the court that ENL Consortium Ltd was awarded a Build-Operate and Transfer (BOT) contract to construct the Ibadan outer Ring Road measuring 32 Kilometres. The counsel said: "In the course of executing the contract with finances sourced by the contractor, there was a change of administration in Oyo State from the Governorship of Chief Abiola Ajimobi of the All Progressives Congress (APC), whose Government awarded the contract, to that of Governor Seyi Makinde of the Peoples Democratic Party (PDP), and the latter did not hide the fact that his administration did not want the Plaintiff to conclude and benefit from the contract. "Consequently, by some contrivances set out in the statement of claim, the Oyo State Government purported to revoke the contract and re-award same to Craneburg Construction Co Ltd, an Abuja based company, despite the fact that the contract was still subsisting and not

resolved through the arbitration clause in the contract, which the OYSG is yet to take advantage of. The claimant seeks the following reliefs against the defendants jointly and severally.” After hearing the Motion, Justice Obanor said: “The court is satisfied that the application is meritorious and it is hereby granted and Order made as prayed pending the hearing and determination of the Motion on Notice." The defendants are Craneburg Construction Company Ltd, Fadi Khalil, Mohammed Abdul, Government of Oyo State and Attorney-General of Oyo State. Justice Obanor adjourned till July 15 for hearing of the Motion on Notice. A High Court of the Federal Capital Territory in Abuja has restrained Craneburg Construction Co. Limited, Oyo State Government and two others from meddling with a contract awarded to ENL Consortium Ltd pending the hearing and determination of a Motion on Notice and the substantive suit. Justice Enobie Obanor gave the ruling after listening to the plaintiff’s counsel on a motion ex-parte numbered FCT/HC/M/8903. It was pursuant to the suit numbered FCT /HC/CV/2133/ 2022 in the case of ENL Consortium Ltd. V Craneburg Construction Co. Ltd and four others. The counsel told the court that ENL Consortium Ltd was awarded a Build-Operate and Transfer (BOT) contract to construct the Ibadan outer Ring Road measuring 32 Kilometres. The counsel said: "In the course

explaining further that the framers of the law deliberately gave the Commission the discretion, the leeway and elbow room to stop the registration of voters earlier than 90 days before any election covered by the Act. "The framers of the law understand that there are other activities that are critical to the compilation of the voters register that must be undertaken before the expiration of the mandatory period for the stoppage of registration. "This is exemplified and poignantly made in section 19(1) of the Act which provides that the Commission shall, not later than 90 days to a general election, appoint a period of seven days during which

a copy of the voters’ register for each local government, area council or ward shall be displayed or published for public scrutiny at registration area and on its official website or any website established by the Commission for that purpose. "The Commission cannot mandatorily stop the registration of voters, updating and revision of the voters register 90 days to an election and at the same time be displaying the register for claims and objections. "These processes must be completed earlier than the 90 days. In the view of the clear provisions of section 9(6) and 19(1) of the Act, it is imperative that the Commission shall stop the registration, updating

and revision of the register of voters ahead of the 90 day period to enable the Commission carry out the critical task of displaying the voters register in the 774 local government areas of the country and in the 8,809 electoral wards of the country. “It is also fundamental for the Commission to subject the register to de-duplication using the Automated Biometric Identification System (ABIS) to remove double and multiple registrants," Okoye stated. He said it was important to begin the printing of the Permanent Voters Cards of the new registrants and those that did transfer, or lost their PVCs or complained of damaged PVCs and make the Cards available

for collection. His words: "It will be an exercise in futility to continue with the voters registration process too close to the terminal period and be unable to display the register for claims and objections, clean it up to remove multiple and double registrants and make the Permanent Voters Cards available to the registrants. "The Commission is of the firm view and belief that a credible, clean and acceptable voter’s register is the foundation of a good electoral system. The Commission will, therefore, not compromise on the compilation of a good voters roll for the country and will continue to improve on its electoral service delivery," Okoye stated.

Police Confirm Kidnappers Released Girl After Killing Siblings, Shooting Father Daji Sani in Yola Adamawa State Police Command, has confirmed the release of the kidnapped 13-year-old daughter of Pastor Daniel Umaru, after a huge ransom was allegedly paid to her abductors The kidnappers, had shot the cleric, killed his two sons and kidnapped his only daughter last week in Mubi, Adamawa State. Police Public Relation Officer (PPRO), Superintendent (SP) Suleiman Nguroje, who confirmed the released said, the police had

already deployed investigation team to uncover and bring the perpetrators to book. He assured the general public that with the intelligence report at the command's disposal, the perpetrators of the unfortunate crime would be brought to book within three days. "I am assuring the general public that with the intelligence report at our disposal, in three days’ time, we’ll arrest the perpetrators of the unfortunate crime," he said Meanwhile, the remains of

the cleric’s two sons, who were shot dead had been buried by relations and friends according to eyewitness, who said they were buried side-by-side at the church cemetery in Kwarhi, near Mubi. Reports from the affected areas had revealed that gunmen shot Pastor Umaru, gunned down his two sons and kidnapped his 13-year-old daughter in Adamawa State. The sons died while the pastor was taken to hospital, where he has been fighting to survive. Mother of the deceased was said

to have suffered trauma following the tragedy that befell the family. It was learnt that the gunmen stormed the residence of Umaru of the 'Eklesiya Yan'uwa A Nigeria' (EYN), also known as Church of the Brethren, at Njairi in the Mubi Local Government Area and carried out the dastardly act. A family source, who also confirmed the released of the victim on Sunday morning said the kidnapped minor was set free by her abductors after collecting a huge ransom, but did not disclose the amount paid.

IOCS KILLING LOCAL OIL SERVICING COMPANIES IN NIGERIA, SAYS WABOTE “So creating a consortium is not a magic wand. It requires all the serious commitments to have a project of that magnitude. While there are challenges in doing business in Nigeria, I think we all have a share of the blame and we must accept that. When we are talking, we need to put that on the table,” he noted. According to him, in the height of the Covid-19 pandemic, many costs by service providers were reviewed downwards. However, Wabote explained that since oil price hit new heights, there had been no plan to increase it for local companies. “I give you an example, some of the companies, when oil price came down, the IOCs and the NNPC (Nigerian National Petroleum Corporation) demanded a 40 per cent reduction in costs. “Some of them were providing them vessels for about $20,000 to $25,000 per day. We negotiated down to $12,000 or $15,000 per day and they did that because they wanted to remain in business. Oil price was $27 and at some point it was negative.

Now, it’s $110, where is the marching order to renegotiate those contracts with those local operators? “On top of that they still squeeze them, but because there are no jobs and jobs are limited, you cannot park your facility in your garage, even if you do it somewhere, you still spend money to do so. “Out of that, these companies still struggle and make little or nothing in terms of margins. They have to service loans. So the onus is also on the IOCs and service providers to say, this is what is possible. “If you leave it to me, I will fix a price to it because it has to move in tandem with the oil price. When it goes up, it should also go up with service providers vice versa. That's the way to keep local businesses from going underground,” he argued. On the issue of piling debts, the NCDMB boss stated that it was unfair for the IOCs to initiate contracts and not pay for upwards of six months, stressing that Nigeria Agip Oil Company (NAOC) remains a major culprit. “The other one is about payments.

We don’t pay these local contractors. They work six months and don’t get paid. I don’t think NAOC is here because they are the biggest culprits. “Meanwhile, they will demand for the service and the local companies will provide them the service, but when it is time to pay, the don’t. When I ask questions they say their joint venture partners have not paid their cash calls. “So, why did they demand for the service? Why didn’t they wait until they get the cash calls payments? These companies are going under because they take loans, they do the business, but by the time you pay them, the capital and the profit are all gone,” Wabote lamented. He noted that the situation had become so bad that he had been joined in several lawsuits by the affected companies even though the NCDMB had no hand in such bad deals. “So these are things we need to also address. As we point fingers, we should also look inwards in terms of making sure that local businesses also survive because at times I can

tell you I wasn't joking when I said I get sued in court as a co-defendant because Agip is not paying and in some certain instances, they put my name to appear in court. “Sometimes they call me to intervene and I call the companies and say why are you not paying, they say, we are not being paid cash call. But you give out the service to these people who will take loans to provide the service. “So it's a two-way street. While we are talking about ease of doing business, those are the factors that make doing business a lot more difficult. If you're paying me and I am dealing with the community and dealing with all those, I don't care, so long as I am getting the money to solve the problems. “But if you are not paying me and these problems are there, it is actually frustrating and I feel their pain,” he added. Wabote further posited that the entire industry needed to come together to address the outstanding issues “so that we can get local businesses to continue to do business rather than just wither away.”

T H I S D AY • MONDAY, JULY 11, 2022

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FILM FESTIVAL BERTHS IN EDO... L-R: Managing Director of EdoJobs, Ukinebo Dare; Edo State Commissioner for Arts, Culture and Diaspora Aﬀairs, Hon. Bamidele Obaitan, and Convener, Real Time International Film Festival, Stanlee Ohikhuare, after a meeting in Benin City…recently

Kuje Prison: ASCAB Tasks Malami, NASS on Prosecution of Alleged Terrorism Sponsors Alex Enumah in Abuja A civil society group, the Alliance on Surviving Covid-19 and Beyond (ASCAB) has called on the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, to commence the immediate prosecution of alleged sponsors of terrorism. ASCAB predicated the call on last week's attack on the Kuje Prison, Abuja, where over 600 inmates including 64 Boko Haram members were freed by alleged terrorists. The group in a statement signed by its Chairman, Mr. Femi Falana, which faulted the poor security apparatus at the Luke Correctional Center, lamented the frequent attacks on Correctional facilities across the country of recent. "Before the attack on the Kuje Correctional Centre, terrorists and other armed criminal gangs had successfully attacked 14 other Correctional Centres and freed thousands of convicts and awaiting trial inmates in many states of the Federation. “In order to secure all correctional centres in the

country in line with the aforementioned provisions of the Nigerian Correctional Service Act the Federal Executive Council should urgently approve fund for the purchase and installation of the necessary security equipment "However, having regard to the security implications of the escape of the freed terror suspects the Nigerian people have expressed concern. “Since only 64 terror suspects are detained in Kuje Correctional Centre, the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami should disclose to Nigerians where the 400 sponsors of terrorism and the 800 terror suspects who were due to be arraigned in the Federal High Court last year are being detained. "Before then the 10 soldiers led by an Army Captain who ambushed and killed the three police officers who had arrested an alleged kidnap suspect, Bala Hamisu (a.k.a.Wadume) in Jalingo, Taraba State in August, 2019 were not arraigned in the Federal High Court even though a charge was filed against them

Court Halts BEDC Takeover Alex Enumah in Abuja In an action commenced by Vigeo Power Limited, the majority shareholder of Benin Electricity Distribution Company Plc (BEDC), the Federal High Court, Abuja on last Friday issued an order restraining Fidelity Bank Plc and others from taking over the power distribution company, pending the hearing and determination of the motion on notice dated July 8, 2022. While other defendants in the suit are the Nigerian Electricity Regulatory Commission (NERC), Corporate Affairs Commission (CAC), Henry Ajagbawa, Charles Onwera, Yomi Adeyemi, K.C. Akuma, Yomi Adeyemi, those affected by the order include the Bureau of Public Enterprises (BPE) and the Nigeria Police Force (NPF). The plaintiff, Vigeo Power Limited who are the majority shareholder in the BEDC, in the suit No. FHC/ABJ/CS/1113/2022, is praying the court for an order of interim injunction restraining Fidelity Bank Plc, whether directly or indirectly, through its directors,

managers, officers, employees, servants, consultants, attorneys, agents, representatives, privies, however so-called, persons acting under its instructions and control, including the entities set out in this application from altering or further altering the board composition of BEDC or working in concert with any person or party to alter the board composition of BEDC. Besides, BEDC also prayed for an order of interim injunction restraining NERC and CAC, from registering or recognizing Henry Ajagbawa, Charles Onwera, Yomi Adeyemi, K.C. Akuma, Yomi Adeyemi as directors of BEDC pending the hearing and determination of the motion on notice dated July 8, 2022. The plaintiff further asked for another order of interim injunction restraining Henry Ajagbawa, Charles Onwera, Yomi Adeyemi, K.C. Akuma, Yomi Adeyemi, from parading themselves or holding themselves out as directors of BEDC pending the hearing and determination of the motion on notice dated July 8, 2022.

by the police. “In fact, the case was discontinued against them by the Attorney-General of the Federation in a purported exercise of his powers under section 174 of the Constitution. It has been confirmed that Wadume one of the terror suspects who escaped from Kuje Correctional Centre last week", the statement

read in part. Falana while observing that majority of the alleged terrorism detainees had been detained for over 10 years, wondered why the suspects were kept by the federal government when the governors of the north-east region had requested for the fiat of the Attorney-General of the Federation to have the

suspects tried by the respective State Ministries of Justice. "But for some inexplicable reasons, Mr. Malami turned down the request. Hence, the suspects have been abandoned in prolonged detention. "In view of the foregoing, we are compelled to call on the Attorney-General of the Federation and Minister of

Justice, Mr. Abubakar Malami SAN to ensure that the indicted sponsors of terrorism and terror suspects are charged before the Federal High Court. "We also call on the members of the National Assembly who have been appropriating fund for the prosecution of terror suspects to monitor the prosecution of the indicted terror suspects".

11 More Bodies Recovered from Lagos Boat Mishap Rebecca Ejifoma Eleven more bodies were yesterday recovered from the ill-fated boat sailing from Mile 2 to Ibeshe in Ojo area of Lagos state. Following a search and rescue operation on Saturday, four bodies were found. This brings the number of rescued bodies to 15. The acting Coordinator of the Lagos Territorial Office of the

National Emergency Management Agency (NEMA), Ibrahim Farinloye, confirmed the development. "It is likely that two more bodies have been sighted. But it is until final recovery is done before that can be confirmed," he added. Farinloye, however, highlighted that findings showed that illegal operators carrying services after the end of official hours, 7pm, permitted by the Inland Waterway

operation rules were being violated. He said: "It was revealed that the regulatory bodies have tried to stamp out illegal operations of small boat operators who hardly use life jackets after official hours. They do not heed to efforts put in place." The NEMA coordinator insisted that wooden boats are not permitted to be used as passengers’ boats.

"But only at these odd hours the illegal operators always put the lives of unsuspecting passengers at risk," he added. Farinloye assured newsmen that efforts are on to address the gaps with all stakeholders such as the Nigerian Navy's Special Boat Service, Association of Boat/Ferry Operators of Nigeria, LASWA, NIWA, NEMA and Marine Police to address the situation.

Fifteen Shot Dead in South African Township Bar 14-year-old fatally stabbed in New York subway station At least 15 people have been shot dead in a bar in the South African township of Soweto, police say. Police said gunmen entered the Orlando East tavern in the early hours of Sunday morning and started firing randomly at a group of young people. They then fled the scene in a white minibus. No motive for the attack has been established, police said. Several more people are in a critical condition in hospital, the BBC reported. The victims were believed to be between 19 and 35 years old. "Bodies were on top of each other with blood all over. We were looking for our loved ones, we had to jump over bodies looking for our brothers," said local resident Ntombikayise Meji. Gauteng province's head of police, Lt-Gen Elias Mawela, told the BBC the shooting appeared to have been, "a cold-blooded attack on innocent tavern patrons." A statement released by his office said the gunmen had been armed with rifles and 9mm pistols when they entered the bar. Police are searching for the suspects, whose identities remain unknown, it said. Thaban Moloi, a community leader in Soweto, was angered by

the amount of time it took police to arrive at the scene. "It's terrible, I'm telling you. People don't know what to do. If you were there you could see women and children crying," he said. Moloi said the attack happened at 23:00 local time (21:00 GMT) on Saturday but police didn't arrive until 04:00 on Sunday. "It took five hours for them to come, honestly," he said. A relative of one of the victims shot dead in a tavern in Soweto reacts next to the crime scene in Soweto Four other people were killed in a separate tavern shooting in the south-eastern province of KwaZulu-Natal, police said on Sunday. President Cyril Ramaphosa expressed his condolences to the relatives of victims of both shootings. "As a nation, we cannot allow violent criminals to terrorise us in this way, regardless of where such incidents may occur," he added. Shootings are not uncommon in South Africa. They are often linked to gangs or alcohol. But this is an exceptionally high death toll and comes soon after the death of 21 teenagers thought to have been either gassed

or poisoned at another bar in the city of East London. South Africa is a very violent country at the best times, but this particular incident, coupled with another shooting in Pietermaritzburg, has shaken many.

14-Year-Old Fatally Stabbed in New York Subway Station

Meanwhile, a 14-year-old boy was stabbed to death on Saturday afternoon inside a train station in Harlem, officials said, adding to a wave of high-profile attacks in the New York City subway system that has rattled riders in recent months. The police were called to the 137th Street-City College station at about 3 p.m. and when officers arrived, they found the teenager on the northbound platform of the No. 1 line with a stab wound to his abdomen. He was taken to Mount Sinai Morningside hospital, where he was pronounced dead, the police said. The New York Times revealed that Police officials did not identify the victim and said no one had been charged. The police said they believed the boy and his attacker knew each other, though they did not know a motive.

The killing came after a series of violent episodes in the city’s mass transit system, including the random and unprovoked fatal shooting of a Goldman Sachs employee on his way to brunch in May, a mass shooting on a train that injured at least 23 people in Brooklyn the month before and the fatal shoving of a woman at the Times Square station in January. Those episodes have subway riders worried about their safety at a fraught moment for the transit system. The attacks have also presented a major political problem for Mayor Eric Adams, who vowed during his campaign to make the city safer. In surveys, transit riders and employers have said subway safety is a top concern. About 74 per cent of commuters said they felt less safe using public transit now than they did before the pandemic, according to a March survey by the Partnership for New York City, an influential business group. In addition to those concerns, many riders still fear the spread of the coronavirus. About 79 per cent of subway riders who had not returned to trains said social distancing was one of the top factors keeping them away, according to a customer survey conducted in the fall.

T H I S D AY • MONDAY, JULY 11, 2022

NEWSXTRA

IN SOLIDARITY WITH INEC… L-R: Chairman of Igbo-Eze North Local Government Area, Ejike Itodo; Governor Ifeanyi Ugwuanyi of Enugu State and member representing Igbo-Eze North/Udenu Federal Constituency, Simon Atigwe, when the governor inspected the Igbo-Eze North LGA Oﬃce of the Independent National Electoral Commission (INEC) recently burnt by hoodlums… yesterday

PHCCIMA Advocates Affordable, Sustainable Power Supply in Nigeria Blessing Ibunge in Port Harcourt The Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA) is advocating for an affordable and sustainable power supply in Rivers State as well as Nigeria in general. The group noted the need for Public-Private-Partnership (PPP) to woo investments into the various options of power supply, including introduction of Modular Power Plants as a means of providing

adequate, affordable and sustainable power supply, thereby solving the power problem in the state. President of PHCCIMA, Mr. Mike Elechi made the call at the weekend, while speaking to journalists ahead of the 2022 Power-to-Power summit with the theme: "Exploiting Business Opportunities in the Power Industry," scheduled to hold between August 11th and 12th, in Port Harcourt. According to Elechi, PHCCIMA in partnership with Dorisdesmond Nigeria Limited (DDN) would be

organising this year's summit. He said Nigeria’s Energy and Petroleum sector leaders would be in attendance at the programme to define solutions and propel the industries through innovative thought leadership to industry excellence. Elechi noted some of the key challenges facing the power sector as, "inadequate power generation capacity and distribution, ineffective legislation, poor collection rates, higher diesel price, inadequate

transmission and distribution infrastructure." He said, "As a result of the inadequate power supply majority of households and businesses in the State rely on expensive self-generated electricity. Nigerians have resorted to powering themselves at various levels, some are using kerosene, lanterns, candlesticks, with majority using darkness." The PHCCIMA boss stressed that, "the session will proffer solutions to these challenges and also accentuate

the state government’s commitment in collaborating with the private sector to tackling the state’s power problems with the view of providing adequate power supply in realising the vigorously pursued state urban renewal programme, light for all citizens’ project and promoting higher productivity in the state." He explained that, "The 2022 Power-to-Power Summit shall host discussions centred on ‘Power Sector Untapped Business Potentials, Rethinking Global Consumption,

Production and Distribution Investments in the Nigerian Power Sector." Other topics include, "Opportunities and Responsibilities with Sustainable Investing in the Electricity Industry, Harnessing the Benefits of Innovation and Technology in the Power Industry, Integrating Cities, Customers and Technology, Investment Opportunities in Nigeria Power Sector and Exploring Renewable Energy Options."

rejected by almost everyone he had broached it with. Tinubu, while meeting with some of the stakeholders, the governors inclusive, had mooted the idea of appointing Oshiomhole to lead his campaign. But the people he ran the idea by immediately protested, saying Oshiomhole would kill his presidential dream. But the presidential candidate had given as his reason for wanting an Oshiomhole to lead his campaign, the “need for a mad man” that could contain the opposition, intimidate them and lead the party to a resounding victory in 2023. But they immediately told him that, while they agreed that Oshiomhole had the stamina, he was too combative and disruptive to undertake such an assignment, adding also that as a southerner presidential candidate, picking a southerner as DG, especially, after a Muslim-Muslim ticket, might have begun to awkwardly tilt the balance and present a wrong impression overall – to the voting populace. Instead, they suggested a Christian northerner, in which case could be one of them – talking about Lalong of Plateau – or any other prominent Christian northerner, who is not seeking an elective office, so he could concentrate on the campaign 100 per cent. Therefore, while the issue of running mate. Might have been finally laid to rest with Shettima fitting Tinubu’s bill, the choice of who becomes the DG has yet to be addressed as the party gears up for campaign proper.

"So, while our opponents might think that there is an easy road to victory in divisive politics, we must get the message across to them that Nigeria has seen the worst shade of exclusionist politics and the road ahead is the path of inclusive and unifying politics. That is what we stand for. "Politics is meant to be a corrective mechanism. So, even when we are upset about the inexcusable low that the ruling All Progressives Congress (APC) has brought us in the past seven years, we must ensure that we insulate our politics from the corrosive effect of the ruling party’s failures. A society cannot progress if its politics is convoluted. "The journey that we have signed on to undertake together is not one that we can accomplish by threading the inglorious path of exclusionist politics. This journey, our campaign, is a rescue mission for our great country and it is a mission that must involve all Nigerians." The former vice president said in such a time when Nigeria is going through a very difficult time, that it is important that Nigerians do not allow any kind of primordial sentiment to becloud it's politics, adding: "We are the unifiers and the bridge-builders and we represent the future of a peaceful and prosperous Nigeria." Meanwhile, Atiku has indicated plans to be on the ground to lead the PDP rally for the Osun governorship election in Osogbo on Thursday. THISDAY gathered that the PDP presidential candidate would be cutting short his vacation to lead the charge in the Osun gubernatorial election slated for the 16th of July 2022. Other PDP governors are expected to be part of the rally, which is seen as part of the road to reconciliation in the party. Contrary to some media reports that Atiku Abubakar was vacationing in Dubai, he was actually spending his vacation in Europe. When contacted, his Media Adviser, Paul Ibe, also confirmed that Atiku would be in Osogbo in person to lead the mobilisation of the people of Osun to cast their votes for the PDP candidate, Adeleke.

TINUBU REWARDS LOYALTY OVER COMPETENCE, ELECTORAL VALUE, RELIGIOUS BALANCE him thus: “Quintessential banker and economist, suave gentleman and politician, intellectually fertile, economically sound, intergenerationally mobile (he’s young, yet experienced), fiercely loyal, phenomenally complimentary to @officialABAT.”

Governors Angry over Decision, Meet Buhari Today in Daura

Some APC governors, who were unhappy with the announcement of Kashi Shettima by Bola Tinubu as his running mate, have scheduled to meet with President Buhari today in Daura, to formally register their displeasure befoe taking the next step. THISDAY gathered that the governors and Tinubu had been back and forth on the choice of running mate, and while they were naturally opposed to the idea of two former governors pairing, they had started considering pandering to Tinubu since his sentiment appealed to Shettima. But to do this, the governors were said to have agreed with Tinubu that the unveiling would be done with them present, to show consent and agreement. However, going ahead to announce as if they did not matter in the equation, more so that some of them were uncomfortable with the Muslim-Muslim idea, has further angered them. But they first wanted to intimate the president with this before deciding what to do next. Aside the governors, Senator Abbo, from Adamawa, who was on some of the Tinubu support groups and committees, has sent a scathing message to the group, in which he expressed his disappointment in Tinubu, for going against popular counsel to choose a Muslim-Muslim ticket. Abbo, who promised to formally send in his letters today, said if as an ordinary citizen, Tunubu has refused to listen to counsel, then, he would be worse as president and subsequently resigned his membership of all the committees. Similarly, a lawyer and member of the party, Daniel, who tweeted via his verified account @BwalaDaniel, immediately after the unveiling of Shettima, posted: “Tonight, I officially

resigned my membership of @ OfficialAPCng on principles and conviction that I hold so dear. At this time of our national existence, our efforts and energy should gravitate towards uniting our people “Asiwaju has announced Kashim Shettima as his running mate. Kwankwaso is planning to announce a Pentecostal bishop as his running mate. Interesting times lie ahead.”

Masari Stands Down, Writes Tinubu

Masari, while stepping down yesterday, in a statement, stated: “This is to inform our esteemed party leaders under our able President Muhammadu Buhari, teeming party members and the great people of Nigeria, of the outcome of a crucial discussion I just had with the flag-bearer of our great party, All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu. “Recall that I had the singular honour and privilege of being nominated as the running mate to Asiwaju Tinubu last month after a keenly contested presidential primaries ahead of the 2023 general elections. “But, after much reflection and wider consultations, I now wish to step down. I realised that my decision will enable Asiwaju have more latitude to give more accommodation and inclusion that will position our party to win the coming elections, with the support of the people of Nigeria. “In stepping down, I believe I can still serve our party and the country in several other capacities. I wish to confirm that I have submitted my withdrawal letter and affidavit to that effect as the Vice Presidential Candidate to Asiwaju Bola Ahmed TInubu in the coming elections. “On behalf of myself and family, I wish to sincerely thank Asiwaju Tinubu — the Incoming President, Insha Allah — for his trust in me and we promise to remain steadfast in our support for him and the party.” Interim National Coordinator of Bola Tinubu Campaign Organisation, Honorable James Faleke, also confirmed Masari’ withdrawal as Tinubu’s running-mate. Faleke’s words, “This is to inform and confirm that Alhaji Ibrahim

Masari has stepped down as Vice Presidential nominee to the flag-bearer of APC in the 2023 presidential elections, Asiwaju Bola Ahmed Tinubu. “Alhaji Masari has communicated his decision to us from Saudi Arabia where he is presently performing the lesser hajj. While saluting Alhaji Masari’s sacrifice, we believe this will give Asiwaju Tinubu an opportunity to take a decision that will further enhance the chances of our great party

How Tinubu Fought for Shettima

Settling for Shettima seemed as difficult as Tinubu’s emergence as the APC presidential candidate, but sources in the party claimed that, Tinubu knew all along that a Muslim-Muslim was his best bet, but the religious politics introduced to it as well as the position of the governors, was what delayed the announcement as he sought more time to convince people to buy into Muslim-Muslim idea, before picking the lucky candidate. While the governors were not very keen about the role of religion in the pairing, they, at many of their meetings with Tinubu, objected to the idea of running with a former governor since Tinubu himself is a former governor. To that extent, the governors said while Tinubu as the candidate represents the former governors on the ticket, he should pair with a sitting member of the Nigeria Governors’ Forum, for some sort of balancing, which they reckoned would give them a sense of belonging in the Tinubu administration, if he won. Thus, they suggested to him, either the Governor of Borno State, Professor Babagana Zulum, a Muslim, or his Plateau State counterpart, Simon Lalong, a Christian. But they both represent the class of the sitting governors as NGF members. Yet, they saw problem with the choice of Zulum, since his benefactor and predecessor, Shettima, is also in consideration for the job and might set them against each other. Besides, some had also argued that cancelling out Zulum would not be as difficult since he had personally come out to opt out of the consideration for

running mate to Tinubu. In a statement widely circulated, Zulum, had thanked those touting his name as possible running mate to the APC candidate, saying if there was anything he wanted, it was to return to Borno to finish off the development he had started and this position, he was said to have personally relayed to Tinubu, when he visited Borno to poach delegates ahead of the convention, When it was clear to the governors that Tinubu was not comfortable with the two suggestions (Zulum and Lalong), sources said, they further suggested to him another sitting governor, albeit from North West, he quickly retorted that he could never pair with the particular governor, who many people, including his colleagues considered controversial. According to the source, Tinubu told them that he could not afford to have the very governor in question in a position he could not fire or reprimand him, whenever he misbehaves, hence, he did not think it was smart to pair with him on the presidential ticket, knowing he would be protected by immunity. But, with the deadline staring them in the face, Tinubu, did not relent on his push for Shettima as he continued to call the governors and other stakeholders, seeking their consent on the choice of the former Borno State governor, whom many believed had since positioned himself for the job. Even more instructive is the fact that, while many of the governors wanted one of them to be on the ticket, they were willing to defer to Tinubu on his choice for running mate, since he's the candidate. However, after securing the tacit consent of the governors and other stakeholders, who were also of the view that the candidate should be allowed to choose whoever he could work with, Tinubu then went for Shettima, whom he had always wanted and also resolved to brief Buhari on his choice partner, before a formal announcement is made ahead of the deadline this Friday. Meanwhile, another hurdle more difficult to cross for Tinubu is the thinking he could make Oshiomhole, an intending senator, his campaign DG, an idea, which has been roundly

Atiku: No Room For Exclusionist Politics

Presidential candidate of the PDP for 2023 general election and former vice-president, Atiku Abubakar, has described politics as a corrective mechanism and therefore cautioned exclusionist politics in the coming dispensation. Atiku, who is expected to lead all the PDP governors to Osun State on Thursday to campaign for the governorship ambition of Senator Ademola Adeleke, further cautioned against primordial sentiments. According to a statement personally signed, Atiku said,

MONDAY JULY 11, 2022 ˾ T H I S D AY

NEWS

Police Bursts Kidnap Syndicate, Kill One in Edo Recover weapons in Delta

Adibe Emenyonu in Benin City Edo State Police Command has killed a kidnapper along Benin-Auchi expressway. In a statement that was issued yesterday by the Deputy Police Public Relations Officer, ASP. Jennifer Iwegbu, said that the kidnapper was killed by the police operatives at Iyuku Road by Imeke Junction, Benin-Auchi Expressway on Saturday at about 19:20 hours, during a routine patrol. The statement reads: “As a fallout of the recent strategic engagement of stakeholders in Edo State Security by the Acting Governor, Rt. Hon Philip Shaibu, and Command Commissioner of Police, CP. Abutu Yaro, a kidnapper was decimated at Iyuku Road by Imeke Junction, Benin-Auchi Expressway, on 09/07/2022 at about 19.20 hours while operatives of the command were on routine patrol; others were wounded and took to flight. “Subsequently, during bush combing along that axis, a corpse on black mask suspected to

be one of the hoodlums was discovered. A locally made pistol was discovered on him.” Iwegbu noted that the commissioner of police has reassured the general public of the command’s unalloyed commitment to ensure a peace in the state for Edo people. She called on the people to avail the command with credible information. Meanwhile, the Police in Delta said it recovered a stolen Lexus 350 SUV and assorted weapons from suspected armed robbers in the state. The Spokesman of the command, DSP Bright Edafe disclosed this to newsmen yesterday in Warri. Edafe said the vehicle was recovered on Wednesday by police operatives attached to the Otu-Jeremi Division in Ughelli South Local Government Area of the state. He said investigation revealed that the vehicle was earlier snatched from the owner on the Ughelli-Warri Road. “On July 6, 2022 at about 1:47 p.m. operatives attached

to Otu-Jeremi Police Station while on stop and search duty on the Owawha/Okwagbe Road, sighted a Lexus 350 SUV

with Registration Number: LG 31 GRA. He said the driver made a U-turn and sped off on noticing

the police. According to him, the action aroused the suspicion of the policemen who gave them a

hot chase. Edafe said the hoodlums abandoned vehicle at Imode Road and escaped into the bush.

WORKING FOR A BETTER ABIA…

Governorship candidate of the All Progressives Congress in Abia State (left), and the Deputy Governor of Abia State, Sir Ude Oko Chukwu, when he hosted Emenike and other APC leaders in Nkporo, Abia State…recently

NPC Begins Advocacy Osun 2022: IG Deploys Four AIGs, Others, Redeploys CP for Successful Conduct of Trial Census in Enugu Gideon Arinze inEnugu

The National Population Commission (NPC) has commenced advocacy visits to local government chairmen and other relevant stakeholders of select council areas as part of efforts to ensure the smooth conduct of the trial census in Enugu State. The commission began the advocacy with a visit to the Chairmen of the three LGAs selected in Enugu East Senatorial Zone including Isi-Uzo, Enugu North and Nkanu West. Speaking when he led his team to Isi Uzo yesterday, Federal Commissioner of the NPC in Enugu State, Ejike Eze said that NPC had since intensified

preparatory activities for the successful conduct of the first digital census in Nigeria. Eze reiterated that the engagement was also intended to seek the support of communities under the LGA towards achieving good results during the trial and general census exercise. He maintained the commission was working hard to ensure that they get accurate data which would help in proper planning for development across the country. “Census is important, hence any country that wants to progress must have data and that is why the national chairman of the commission has deemed it necessary to conduct the exercise,” he said.

The Inspector-General of Police (IG), Usman Alkali Baba, has deployed the Deputy InspectorGeneral of Police(DIG) in charge of the Force Criminal Investigation Department and the supervisory DIG for the South-west Geo-Political Zone, DIG Johnson Kokumo, for the Osun State governorship election. Also deployed to the state

are four Assistant InspectorsGeneral (AIGs)of Police, four Commissioners of Police, 15 Deputy Commissioners of Police(DIGs), and 30 Assistant Commissioners of Police. The Force spokesperson, Muyiwa Adejobi, in a statement yesterday , said adequate police personnel of the rank of Chief Superintendents of Police

and below have equally been deployed for the election. He also announced that the Osun State Commissioner of Police, Olawale Olokode, who had been enmeshed in controversies has been temporarily moved to the Force Headquarters until the conclusion of the election. “DIG Kokumo is responsible

for overseeing the implementation of the Operation Order evolved from the Election Security Threat Assessment, to ensure a peaceful and conducive environment devoid of violence and to guarantee law-abiding citizens in the state of a secured space to freely perform their civic responsibilities without molestation or intimidation.”

Insecurity: ‘Ordinary Citizens No Longer Safe in Nigeria’ Francis Sardauna in Katsina A former Wazirin Katsina, Professor Sani Abubakar Lugga, has expressed worries over the rising security and economic challenges in Nigeria, saying the nation is under security, social and economic emergency. He described the attack on President Muhammadu Buhari’s advance team in his home state

and call by governors for citizens to acquire weapons and defend themselves against terrorists as attestations to the “helpless security situation” of the country. Lugga, a professor of conflict management, while addressing journalists weekend at his residence in Katsina, said Nigerians should stop deceiving themselves that the country is safe because both President Buhari and ordinary

citizens are no longer safe. The fifth Wazirin Katsina, in February 2022, dumped the prestigious title which he had held for over 20 years over a query he got from the ancient palace following his comments on the state of insecurity in Katsina. During the media chat, Lugga said that the country was facing a divine curse that needs serious repentance, prayers, righteous deeds

by all Nigerians, especially political and religious leaders, irrespective of religious, tribal, political and geographical differences. The state patron of the Nigeria Union of Journalists (NUJ) explained that Nigeria cannot enjoy relative peace, stability and development where unemployment, poverty, corruption, pen robbery and injustice had upset its socioeconomic order.

The Ekiti State chapter of the International Federation of Women Lawyers (FIDA), has granted free legal services to secure justice for victims of rape, domestic violence, child trafficking and other Gender Based Violence(GBV) acts in the state. FIDA said these were cases that were reported to it between

and were addressed following intervention, mediation and litigation procedures to halt the nefarious acts and get justice for the victims. The Chairperson of FIDA in Ekiti, Barrister Oyinade Olatunbosun, said this yesterday at a separate GBV sensitisation rallies held at Erinmope and Ilawe Ekiti to boost the awareness of the residents.

composed GBV committees in some towns to interact with the people and halt the upsurge of rape, child labour, domestic violence, female genital mutilation, child trafficking, forced and teenage marriages. She said: “We received a total number of 78 GBV cases from December 2021 to February 2022, while some are concluded, a

still pending with interventions, mediations and litigations ongoing. “These cases confirmed that GBV is high in Ekiti and we have a lot of work to do. The first thing is for our people to speak up. Anybody that is experiencing any of these violent cases should report to the committees and we will take it up.

APC Condemns Communal Ekiti Female Lawyers Offer Free Legal Services to 78 Rape Victims, Others Clash in C’River December 2021 and February 2022, Olatunbosun said FIDA had substantial part of the cases are Victor Ogunje in Ado Ekiti

Chairman of All Progressives Congress (APC) in Cross River, Mr. Alphonsus Eba, has condemned the communal clash between Ijegu and Yabu communities in Yala Local Government Area of the state. Eba, in a statement issued yesterday in Calabar by his Special Assistant on Media, Mr Egbara Emmanuel, urged the warring communities to sheath their swords and eschew violence. He said it was sad and regrettable that the two communities, which had co-existed for decades, could take up arms against each other. The APC chairman said that

the clash over land matters was uncalled for, calling on leaders of both communities to resolve the issues through dialogue. He advised the warring communities to shun other acts capable of breaching the peace in the area. Eba, however, warned that the government and people of the state would not fold their arms and watch residents being killed by their neighbours. “This is man’s inhumanity to man. It is disheartening that this kind of thing will be happening in our society,” he said.

Sokoto Residents Chase after Moving Water Tankers as Supply Dries Up As water scarcity bites harder, Sokoto residents chase after moving water tankers to get supplies. The Sokoto Water Board has not been able to pump water through the pipeline network since contractors stopped supplying expensive diesel to pump water. The News Agency of Nigeria (NAN) reports that because of the unavailability of diesel, the water board resorted to distributing water using tankers that go to households. Residents have been seen

chasing after water tankers at Masallacin Shehu, Atiku UbanDoma, Sabon Birni, Aliyu Jodi and Kofar Kade among other residential areas. Other residents troop to the Water Board headquarters and to water treatment plants on Illela Road to fetch water. A source at the Water Board told NAN that aside unavailability of diesel, other logistics like debt owed to contractors supplying water treatment chemicals were challenges being faced.

Abia Deputy Gov Hosts Emenike, Supports Efforts to Make Abia Better

Emmanuel Ugwu-Nwogo in Umuahia

The governorship candidate of the All Progressives Congress (APC), Chief Ikechi Emenike, was yesterday hosted by the Deputy Governor of Abia State, Ude Oko Chukwu, to discuss the good of Abia.

Emenike was also hosted by the Abia deputy governor in continuation of his statewide engagements to meet with men and women of goodwill across party lines with the aim of rescuing the state. Welcoming Emenike, Oko Chukwu said: “Abia belongs to all of us” hence the need for

everybody to be concerned with the affairs of the state. Whatever we can do to make this state better we will join hands and do it. We must do everything to raise the bar (of development) in the state and whoever is doing it I’m a partner.” He described the APC governorship standard-bearer as “a

brother and friend” commending him for his forthrightness and rewarding of hard work. Responding, Emenike told his host and other stakeholders of Nkporo that his intention was to bring on board all well-meaning people of Abia irrespective of political affiliations to join hands and save the state.

Bayelsa PDP LG Chairman Resigns over Internal Crisis

Olusegun Samuel

The crisis rocking the Bayelsa State Chapter of the Peoples’ Democratic Party (PDP) in Bayelsa State has forced the Chairman of the Brass Local Government Council Area, Hon. Victor Inodunimi Isaiah, to quit the party over lingering internal

crisis and segregation. Isaiah announced that he, and his supporters, would pitch their tent with the Social Democratic Party (SDP), which he alleged is more progressive than the All Progressive Congress (APC) and the PDP. He said in his letter to the Ward 3 Chairman of the PDP in

Brass Local Government Area dated July 8, 2022, that does not see the PDP as a party on whose platform he could actualise his desire to serve the people. Isaiah noted that it is unfortunate that his political history would be incomplete without mentioning the PDP

Ward One. He said, “Most of us are in politics to bring infrastructural development and other democratic dividends to our people, and a political party remains the platform through which one can wield the needed political power to actualise this desire.

MONDAY JULY 11, 2022˾ T H I S D AY

NEWSXTRA

NDLEA Arrests Drug Mule Enroute Dubai at Lagos Airport Michael Olugbode in Abuja An attempt to use an orphan as drug mule into Dubai, United Arab Emirate through the Murtala Muhammed International Airport, Lagos has been thwarted by the operatives of the National Drug Law Enforcement Agency (NDLEA) A statement yesterday by the spokesman of the anti-narcotics agency, Femi Babafemi, said the attempt by a human trafficker, Matthew Bassey to export illicit drug to Dubai, United Arab Emirate by planting same in the luggage of an orphan, Ms. Peter Gift Eno recruited for a phantom job in the Arab nation has been thwarted by operatives of the agency at the Lagos airport. He disclosed that Bassey, 29, was arrested last Wednesday following the interception of Eno at the departure hall of the Lagos airport. When Eno’s luggage was searched, 50 parcels of cannabis (2.8 kilogrammes) concealed in food items were discovered while there were discrepancies between the age she declared and the date of birth on her international passport.

He said when the interrogation of Eno revealed that the human trafficker who recruited and brought her to the airport, Mathew Bassey was still lurking around the airport, waiting for her departure, the

operatives promptly tracked and arrested him. He said Investigations revealed that Eno, who is Bassey’s kinswoman recently lost her mother and as a result made it easy for Bassey to recruit

her with the promise of securing her a job in Dubai, UAE. Babafemi said it was further discovered that the recruiter leveraged on the Eno’s, who was apparently a victim, naivety and planted drugs in her bag for

onward delivery to his contact in Dubai. In a related development, the desperate bid by a drug trafficker, Aloysius Onyekwe (a.k.a Kelvin) to travel by road to Algeria through Sokoto state

with ingested 47 wraps of cocaine in his stomach has been frustrated by NDLEA operatives who intercepted him in Ibadan, Oyo state following intelligence shared by the Department of State Security, DSS.

YOUTH EMPOWERMENT…

L-R: Project Manager, Asteven Renewable Energy, Dominica Una; Chief Executive Officer, Asteven Renewable Energy, Dr. Sunny Akpoyibo, and President, National Youth Council of Nigeria, Mr. Solomon Adodo, during the unveiling of a nationwide renewable energy youth empowerment training programme in Abuja...recently KINGSLEY ADEBOYE

Expert Advises on Cargo Claims, Health Workers Union Threatens to Embark Limits of Admiralty Jurisdiction Act on Strike in Solidarity with ASUU, Others Kasim Sumaina in Abuja A maritime law expert, Dr. Emeka Akabogu, has encouraged Judges to acquire better appreciation of the Admiralty Jurisdiction Act, which conferred jurisdiction on the Federal High Court to determine admiralty claims. Akabogu, who is the senior partner of Akabogu and Associates, explained yesterday in Abuja that admiralty claims are claims that arise from the carriage of goods by sea and all other aspects relating to maritime. He said: ‘’I will like to advise and encourage all judges at the high court level and appellate level to better appreciate the

significance of foundational maritime laws, particularly the Admiralty Jurisdiction Act which confers jurisdiction on the Federal High Court to determine such matters.” He disclosed that the Admiralty Jurisdiction Act would enable them to make better decisions that would impact on free flow of goods, quick vessel turnaround, trade facilitation and better business enablement at the ports. ‘According to him, “a lot of port congestion and associated constraints arises from people who have rights which have been breached but which cannot be fully ventilated at that point.

The Medical and Health Workers Union of Nigeria (MHWUN) has said it will go on a solidarity strike in support of the Academic Staff Union of Universities (ASUU), and other unions. MHWUN National President, Mr Biobelemoye Josiah, issued the threat in a statement he jointly

signed with Acting Secretary General of the union, Mr Auwalu Kiyawa, yesterday in Abuja. The statement is entitled; “MHWUN stands in solidarity with the university based unions in the ongoing struggle to emancipate and reposition the public tertiary Institutions

in Nigeria for progressive development’’. The News Agency of Nigeria (NAN), reported that ASUU, and other unions in public universities, polytechnics and colleges of education, have been on industrial action for more than six months over alleged failure

of the Federal Government to meet their demands. The unions are demanding funding of the revitalisation fund, earned allowances, implementation of the University Transparency Accountability Solution (UTAS) scheme, as well as promotion arrears.

Ebonyi APGA Threatens to Boycott LG Elections over Fees Benjamin Nworie in Abakaliki Ebonyi State chapter of the All Progressives Grand Alliance (APGA) has threatened to boycott the forthcoming local government election in the state over alleged exorbitant fees placed on the nomination forms by the State Independent Electoral Commission (SIEC).

The state Chairman of the party, Mr. El-Stevenson Okorouka, stated this while addressing the State Working Committee (SWC) of the party in Abakaliki, the state capital. He stressed that APGA would not participate in the elections if the amounts are not reduced. The SIEC had earlier informed political parties that nomination

form for chairmanship would cost candidates N1 million each while councillorship forms would cost N200, 000 each. The APGA chairman described it as an attempt to abort democracy, uproot fair play and discard level playing ground in the process. He, therefore, asked EBSIEC to remove the exorbitant fees immediately so that all parties

can participate in the process, declaring that APGA would take EBSIEC to court if it fails to do so. “We’ll take EBSIEC to court if they fail to allow other parties participate in the upcoming local government chairmanship and councillorship election by refusing to remove and/or slash the exorbitant fees,” Okorouka said.

Following the growing level of insecurity in Edo State with the recent kidnapping and killing of a reverend father, the Acting Governor of Edo State, Mr. Philip Shaibu, has given marching orders to all traditional rulers across the state to engage local hunters and vigilantes to flush out criminals

Shaibu gave the marching order after an emergency security meeting with traditional rulers, opinion leaders and security agencies in the state. Part of the resolutions, which was made available to journalists on Sunday, also directed heads of the 18 local government councils in the state to provide stipends

vigilante and hunters on a monthly basis to comb the forests and flush out the suspected criminals. He said that traditional rulers would henceforth be held responsible for any act of kidnapping and terrorism that occurred in their domain. Other parts of the resolutions read: “That everybody currently

State in the guise of camping should vacate such areas with immediate effect. The acting governor mandated all acting local governments’ chairmen to use all the security apparatus including the police, army, vigilante groups, hunters and others to forcefully remove any airing groups or individuals within the next 10 days.

Ugwuanyi Inspects Burnt Urged to Engage Hunters, Vigilance Group to Fight Insecurity in Edo INEC Office in Enugu Monarchs herders in all the forests in the state. and other needed resources to the residing in any forest in Edo Adibe Emenyonu inBeninCity

Governor Ifeanyi Ugwuanyi of Enugu State, yesterday visited the recently burnt office of the Independent National Electoral Commission (INEC) in Ogrute, Igbo-Eze North Local Government Area of the state. Gov. Ugwuanyi, who was received by the member representing Igbo-Eze North/ Udenu Federal Constituency, Hon. Simon Atigwe and the

Chairman of Igbo-Eze North LGA, Hon. Engr. Ejike Itodo, among others, went round the building to ascertain the level of damage at the INEC facility. The governor thereafter moved round the council area where he assessed and interacted with the residents on the need to continue to encourage and support the security agencies to safeguard life and property.

Feto Maternal Medicine Specialists Meet The Association of Feto Maternal Medicine Specialists of Nigeria has been enjoined to uphold professional ethics and uphold highest standards of subspecialist practice. The Chairman 5th Scientific Conference Local Organising Committee (LOC) of the association, Dr Femi Oloyede, made the call in a statement, which also announced the 2022 annual general meeting of the association. According to him, “ the theme for 2022 annual general meeting of AFEMSON is ‘The Placenta : Exploring the fetal maternal nexus’ and the conference is slated to hold between July 13 to 16, 2022 in Abeokuta, Ogun State.” Oloyede further added that the conference shall feature scientific

papers presentations by various foreign and national experts on modern practice on fetal medicine, such as placenta ultrasonography, nuchal translucency scan and umbilical artery Doppler scan. Some of the international speakers expected are: Prof. Dilly Anumba from UK, Dr Shady Saleem from Egypt, Dr from Belgium and National speakers are : Prof Femi Kuti (Ife), Bose Afolabi (LUTH), Jamilu Tukur (Katsina), and Hadiza Galadanci (Kano) The Governor of Ogun state, Prince Dapo Abiodun is expected to declare open the conference and AGM while Ogun State Commissioner for Education, Dr Tomi Coker, is the keynote speaker.

Osun Election: Candidates to Sign Peace Accord Wednesday

Ahead of the July 16 governorship election in Osun State, political candidates and their parties will on Wednesday sign a peace accord to commit themselves to the smooth conduct of the exercise. Chairman of the National Peace Committee(NPC) and former Head of State, General Abdusalami Abubakar (rtd),

stated this via a statement issued yesterday, according to Channels Television news. “The NPC hereby wishes to announce that a peace accord will be signed by the various political parties and stakeholders on 13th July 2022, in Osogbo, Osun State,” he said. Abubakar also called on the Independent National Electoral

Commission, (INEC) and all stakeholders to consolidate on the success of the recently held Ekiti State governorship poll. He equally appealed to the electorate to come out en masse, exercising their civic rights to vote, without fear of violence and with the understanding that the structures for growth are dependent on peace, and also

expressed concern over the growing trend of vote-buying. The NPC further called on all stakeholders in the traditional institutions, media, and civil society to be alert to their responsibilities as envoys of democratic values which are the means to attaining good governance, resulting in the nation’s collective growth and development.

Group Advocates Artisanal Refineries Legalisation to Check Fuel Scarcity

The federal government has been urged to legalise the operations of illegal crude oil refineries in order to make petroleum products available and affordable in the country. The President of Peoples Movement for a New Nigeria (PMNN), Alhaji Yahaya Ndu made the call in a statement yesterday. According to him, the call had

become imperative following challenges being faced by Nigerians due to the fuel scarcity which had lingered for several weeks leaving commuters stranded. Ndu, who is also the Director, Institute for African Renaissance Studies and Realization at the Gregory University Uturu, decried the enormous amount of money being spent by Nigeria

on petroleum subsidies. He said many years of government neglect and unemployment in the Niger Delta region coupled with other factors had given rise to a widespread industry of illegally refining stolen with many attendant risks. Ndu said: “I call on the government of Nigeria to get realistic and immediately put all necessary machinery in motion

to legalise, standardise, regulate and monitor all so-called illegal refineries in the country, a great majority of which are in the Niger Delta. “We have been told that petroleum subsidy grew by 349.42 per cent in three years. From N350 billion in 2019 to N1.573 trillion in 2021. Also, the cost of subsidizing the product in 2022 was N450 billion.

MONDAY, ͹͹˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

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

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Super Falcons Crush Burundi 4-0 to Qualify for Q’finals Duro Ikhazuagbe Nigeria’s Super Falcons crushed Burundi 4-0 last night to qualify for the quarter finals of the ongoing Women’s Africa Cup of Nations (WAFCON) in Rabat Morocco. The cup holders totally dominated the final Group C match to set up the last Four clash with familiar foes, the Indomitable Lionesses of Cameroon. The winner of that game will not only qualify for the semifinal but will also have in the bag one of the tickets to represent the continent in the FIFA Women’s World Cup. The win took the champions to six points and five goals advantage, but South Africa’s 1-0 win over

WA F C O N 2 0 2 2 Botswana meant the Banyana Banyana finished on maximum nine points and topped the group, setting up a clash with Tunisia in the last eight. Nigeria dominated to an embarrassing degree and should have been ahead by two goals before Rasheedat Ajibade won and scored a penalty in the 25th minute after she was upended by onrushing goalkeeper Jeanine Irakoze. Earlier, the very busy Ifeoma Onumonu shot over the sticks when clear on goal in the second minute and Peace Efih had an opportunity to rifle into the net four minutes later but opted

to pass, which effort was cut off. Four minutes after Ajibade scored from six yards, Peace Efih scored from a goalmouth melee after another dashing run and cross into the box by Ajibade. Less than 60 seconds after, Nigeria were 3-0 up after Ajibade hugged the byeline and threaded the ball into the box for advancing Uchenna Kanu to hook into an empty net. Kanu thought she had made it four in the 38th minute but her effort was ruled offside, and then came very close in the 40th and 43rd minutes only to miss from close range. In the second half, the Falcons started the way they left off in the

first period, with Ajibade lifting the ball into the box for Kanu to rifle past substitute goalkeeper Amissa Inarukundo with only 22 seconds gone. The Falcons then took their feet off the pedal as the match

puttered and petered out, even as Christy Ucheibe’s rasping drive was finger-tipped to the upright by Inarukundo in the 56th minute and Macleans Chinonyerem made a hash of a great pass from Gift Monday with five minutes left.

Q’FINAL PAIRINGS Morocco Cameroon Zambia S’Africa

Vs Botswana Vs Nigeria Vs Senegal Vs Tunisia

...Nigeria Draw Cameroon in Battle for World Cup Ticket Femi Solaja Following Super Falcons’ 4-0 defeat of Burundi in WAFCON 2022 Group C final game last night, defending champion Nigeria have been lined up to play Lionesses of Cameroon in one of the quarter final matches beginning from Wednesday. In the fixtures released by CAF before this stage of the tournament, it is the second placed teams in Group B and C that will play in the last of the four quarter finals fixtures on Thursday 14th July. Interestingly, the fixture has recorded the highest head-to-head encounter more than any other in the history of Nigeria’s 12th participation in the now biennial women’s continental football. On record, the neighbouring countries have met 12 times with Nigeria winning 10 times, drew

once and lost just one time to the emerging power house in African football. Nigeria got the better of the Cameroonian in the maiden edition of the tournament in 1991 when Super Falcons won 2-0 and 4-0 over two legs to book a slot in the FIFA Women Football tournament in China. Both sides did not meet again until 1998 when Nigeria hosted the tournament in Ijebu-Ode and Kaduna and Falcons recorded 6-0 win against Cameroon at the Ahmadu Bello Stadium where the two semi-final matches were played. Nigeria won 3-0 again in the group phase in South Africa in 2000 and four years later in the Rainbow nation both side played out 2-2 draw in the group phase and qualified into the knockout stage. But the Central African nation were not lucky in 2006 as Nigeria

secured 5-0 win in the semi-final clash with Perpetual Nkwocha scoring a hat-trick and two years later, both teams played 1-1 score-line in third placed match but Nigeria won 4-3 on penalties. Nigeria secured 5-1 win against Cameroon in 2010 in semi-final clash and Nkwocha recorded another hat-trick in South Africa and two years later in Equatorial Guinea, both teams met twice with Nigeria won the group phase match 2-1 but lost the third placed match to Cameroon by a lone goal scored by Gaelle Enganamoiut. But 2014 in Namibia, Nigeria bounced back to winning way with a 2-0 victory Just Falcons won by a lone goal in 2016 edition hosted by Cameroon with only goal scored by Desire Oparanozie. At the last edition in Ghana, both teams played out a goalless semi final clash but Nigeria won 4-2 on penalties and went ahead to win the cup against South Africa in the final match.

BLUE-HAIR ASSASSIN... Rasheedat Ajibade scored Nigeria's ﬁrst goal and was involved in the other three goals as Super Falcons

crushed Burundi 4-0 to reach the quarter ﬁnals of the ongoing WAFCON 2022 in Morocco...last night Elephant Girls Lift Sam Oguche Basketball Tourney My Goal Against Oliver Kahn Introduced Me to Europe, Says Okocha FirstBank Female Basketball team, the Elephants Girls, proved once again that they are a team to reckon with in the Nigeria basketball circle with their victory over the hard fighting MFM Queens in the final of Sam Oguche Basketball competition. The event which held at the indoor sports hall of the National Stadium in Lagos saw the Bankers overrun Olukoya Queens by 52-40 in the keenly contested encounter. The match, dubbed a one-sided affair by fans commenced on a fast pace mode with the former African Champion dominating in their opponent in the first quarter by 16-6. The Second quarter saw the Bankers consolidating their hold on the lead with another excellent performance winning 28-14. Though the MFM Queens fought back in the third quarter, but their resolve had little or no effect as FirstBank Female Basketball team

held on to the lead. Urged on by their teeming fans in the fourth quarter, the Elephant Girls show their resolve to continue to maintain their position as the best female basketball team in Nigeria and one of the best in the continent with the victory winning by 52-40. Satisfied with the performance of her girls, Coach Lati Erinfolami said the team will continue to work hard to maintain the high standard they are noted for. “It was a good game. The girls were determined to excel and that was why they dominated from the beginning to the end. I will continue to encourage them to work. This is just the beginning for us”, said the elated Coach. Already, there are signs that the team will replicate their victory runs in the ongoing Dr. D.K Olukoya Basketball Tournament currently ongoing at the National Stadium in Lagos.

Kunle Adewale Nigeria's football legend, Austin Jay Jay Okocha has joined forces with Bundesliga to discover a budding talent capable of stepping into his shoes. Okocha said this on Saturday at the opening ceremony of a new five-a-side football pitch in Lagos built by Bundesliga, the topmost German Football league that airs exclusively on StarTimes. Okocha became an instant household name in Germany when he scored one of the most iconic goals in football after a sensational dribble of five defenders and goalkeeper Oliver Kahn before he found the back of the net. Okocha stated that he met with the goalkeeper after that game, and emphasised that they remain as friends. "Well, I’ve seen him after that.

L-R: Manager Experiential Marketing & International Club Activities, Bundesliga, Fabian Pliz; Bundesliga Legend, Austin Jay Jay Okocha, Asst. Marketing Director, StarTimes Nigeria; Bose Adewara and PR Manager, StarTimes Nigeria, Lazarus Ibeabuchi, at the unveiling of a new ﬁvea-side football pitch built by Bundesliga in Lagos at the weekend We are not enemies; we are all just doing our jobs and I’m delighted I scored that goal. It was a goal that

Road to NPFL: Alli Calls for Massive Support Against Ikorodu City As Bendel Insurance prepare to host Ikorodu City FC in the Nigeria National League Week 20 fixture at the Samuel Ogbemudia Stadium on Wednesday, July 13, 2022, the Chairman of Edo State Sports Commission, Yussuf Alli, has called on sports loving Edo people, including ardent fans and supporters to come fill the stadium to cheer their darling club to victory. The Sports Commission boss made the call ahead of the club's crucial fixture against Ikorodu Utd FC. A win for the Edo Arsenal

will guarantee their promotion with two matches to spare. The former Team Nigeria Captain who is still basking in the euphoria of Insurance FC victory against their strongest foe, Gateway Utd, 4-0 last week craves for full capacity stadium during the midweek tie. The Benin Arsenals need just three points to seal their promotion ticket to NPFL and a win against Ikorodu Utd FC on Wednesday would guarantee that. "We are expecting a full house on Wednesday. The fans have

shown tremendous support and understanding this season and this match against Ikorodu will be fitting end to a glorious outing. "So we are calling on football loving Edo people to fill the Stadium on Wednesday, the players need an electric atmosphere to crown their promotion in style," the record holding long jumper added. The Chairman further disclosed that fans and supporters will as usual, go home with free matchday jerseys for keeping faith with the club.

"We are all going forward together and we need you to remain faithful as we enter the promised land. "Outside football, we are also doing everything to resurrect the spirit of champions and make Edo State the Number 1 destination in sports." Insurance have had impressive run this season, posting four away wins and draws, two away loss and have maintained hundred percent home victories including last Wednesday 4-0 thrashing of Gateway Utd.

introduced me to Europe and it’s still a special goal,” recalled the former Nigerian Captain. The new pitch built at LSDPC Estate, Meran, Lagos, is part of Bundesliga’s programme for global pitch refurbishment activation in support of football, with the novel event tagged “Common Ground”. The Bundesliga legend noted the facility will “keep the youth away from trouble.” He promised to visit the pitch “from time to time. The community also noted the structure will help curb menace while promising to maintain it. “Bundesliga didn’t just put this here. They are exposing us to the world,” a representative of the youth said. According to Public Relations Manager of StarTimes, Lazarus

Ibeabuchi, the pitch is one of many developmental projects that StarTimes is in partnership with. "StarTimes realises the huge potential Nigeria has to offer the world. Thus, as media partners and exclusive broadcaster of Bundesliga in Nigeria, we are committed to see the next Okocha emerge. We are also passionate to see that all Nigerians can afford to enjoy their favourite sports at home. Thus, we have made our football offerings very affordable for all,"observed the StarTimes spokesman. Meanwhile, Bundesliga will take a sensational turn in the new season starting in August as Sadio Mane and other top stars join the league. All Bundesliga matches are to be aired live and in HD exclusively on StarTimes.

Monday, July 11, 2022

UT H

& RE A SO

Price: N250

MISSILE Baba-Ahmed to Tinubu, Atiku

“In 2023 elections, all I can see is Peter Obi, with due respect to the others. I have worked with Atiku, he is knowledgeable and a master politician. Tinubu is a real master politician but he didn’t have to bring a Buhari as president because he wants to be president. If he was that good, he should have taken the presidency in 2015; why bring in Buhari?” – Labour Party Vice Presidential candidate, Yusuf Datti Baba-Ahmed, eulogising his principal, Peter Obi.

MAHMUDJEGA VIEW FROM THE GALLERY

Big Bowl of Oily Meat M

edical doctors in Nigeria are grimacing this week at the prospect that many more patients will come in complaining of chest pain, high cholesterol levels, irregular heartbeats and the danger of heart attacks. Doctors have already ordered their pharmacists to bring out coated aspirins, Lipitor and other statins in readiness for the deluge. The doctors’ ache is the ram sellers’ gain. Throughout last week, there was a Berlin Conference-style scramble by millions of people in Nigeria to find and buy the oiliest rams. As Eid el-Kabir approached, ram markets sprung up in every corner of Nigerian cities, towns and villages. Parks, open spaces and roadsides all became emergency ram markets. In millions of Northern Nigerian homes, especially in the rural areas, rams are specially bred throughout the year with the aim of making a killing during the Sallah period. These are however not enough to meet the Sallah need, so rams from as far afield as Chad and Niger Republics are imported into the country. Ram sellers are expert salesmen who guide buyers to the choicest rams. They have one unchanging admonition, “This one is very oily. Buy this one.” I had been accompanying my grandparents and uncles to ram markets for two decades and have been going to ram markets myself for two decades now, but I have never been able to figure out how to determine which live ram is oilier than another. At first I thought it was correlated with fatness. You see a ram bulging with meat in the tummy, neck, shoulders and thighs but a ram seller will overlook that one, go for a leaner ram, grab its tail, feel for something just above its tail and say, “This one has more oil.” What is it located above a ram’s tail that tells anyone that it has oil? I was a university lecturer in Zoology for seven years, and I took several courses in animal anatomy before that. I did not see any large layer of adipose tissue above a ram’s tail, such as you see in a human’s hind section. A ram does not need much fat around the tail because it does not sit on its behind the way a human does. A ram’s behind also does not serve purposes of aerodynamic balancing, since it does not walk around on two legs. My Polish Physiology professor Robert Miodonski once said that human females tend to have more adipose tissue on their behind because of the need to aerodynamically balance the mammary glands protruding out in front. I cannot see any such need in rams because the ewe carries its mammary glands at the bottom of the abdomen, quite close to the tail.

President Buhari set to slaughter ram to mark the Eid-el-Kabir celebration

While buying a Sallah ram in Kaduna some years ago, I came to the conclusion that ram sellers tailored their claims of a ram’s oil to the suspected depth of a buyer’s pocket. They will first ask you the price range of the ram you are looking for. It is within that price range that they will tailor their claims about oily rams. If you mention a low price range, the seller will walk right past huge rams, which obviously have a lot of oil, and direct you to a smaller ram and claim that that one is oilier. In the end you get to know which ram is oilier only after they are slaughtered on Sallah Day. The butchers will skin, wash and lay the rams out to dry in the sun before they are hacked into pieces, ready for the huge frying pans and pots. Even at that stage you can see which ram has a lot of fat under its skin. Some rams have so much fat that the flesh looks white, instead of the reddish colour of real flesh. By the time the meat ends up in the pot, some rams can almost fry themselves in their own fat. Now, in the Sokoto area [which for this purpose includes Kebbi and Zamfara states], Sallah meat is handled differently from all other places. After the rams are slaughtered, skinned and washed, they are not cut into pieces but are hung face down on huge racks. Usually, neighbours will pool all their rams together for the tareni, a collective barbeque. A very hot fire made from specially chosen logs will be set in

the centre, with the slaughtered rams surrounding it. The tareni lasts from midday until sunset with the caretakers adjusting and replacing the blazing logs every now and then. At this stage you really see which ram is oily. As kids we used to place containers under each ram to collect the dripping oil. From my observation at that stage, the biggest and fattest rams are always the oiliest, never mind what the ram sellers say in the market. The tareni is removed from the fire in the evening and guarded in a secure room until morning. Guarded from dogs and rats that is, but kids and the men in charge of the barbecue have the license to cut and eat oily portions of the rams called rebu. The oiliest portion is usually around the waist. Almost without fail, whoever eats a lot of rebu will have running stomach the next day, even though a medical doctor later told me that it is because of microbial contamination, not the fat. Besides rebu, kids and the men handling the barbecue are also entitled to many portions of the rams such as neck, gonads, kidneys and a small portion of the intestines. The first time I knew that people in other parts of the North did not do tareni was in 1970 when the Lukman family moved into our Clapperton Road neighbourhood in Sokoto. I thought it was scandalous when they sent raw ram meat to our house on Sallah Day. But my Mum, who lived at Kongo in the 1950s, said, “They are Zaria people.

They don’t do tareni there.” Tareni is quite wasteful in energy terms and I hope the Energy Commission of Nigeria will teach Sokoto people how to do a barbecue with much less fire. The day after Sallah is devoted to sharing of meat. Back in those days, my grandfather will assemble his barbecued rams, usually four, and have them cut into pieces, separating the thighs, front legs, ribs and large pieces of flesh. Magatakarda will have a long list of names in a notebook and will assign a piece to each name. His brothers and closest friends will get as much as a thigh, and he will send us kids to go round and distribute it. The rest of the meat will be fried and shared to family members. Some uncles sat in their houses and when we took the meat to them, they also cut pieces of their rams and sent us back with it to Magatakarda, so we often returned with as much meat as we went out with. Our grandmothers had a way of preserving meat for weeks until some absent grandchildren come home. Throughout last week, Nigerian newspapers, radio and TV stations had one standard headline for their Sallah stories, “Prices of rams shoot up.” The stories alleged that most people could not afford to buy rams. Trouble is, newspapers have been saying the same thing for decades and yet, every year, most of the rams vanish from the markets into people’s pots. Even though many Nigerians were struggling last week with high food prices, fuel shortages and in some cases unpaid salaries and pensions, most of the rams in the markets were sold. That is because millions of people will cough out, save, vie, borrow, beg, blackmail or even steal in order to get a Sallah ram. Why should that be so when the Islamic injunction is clear, that one should only slaughter a sacrificial ram if he or she can afford it? The deceased singer Gambu, praise singer of thieves, best summed up this dilemma when he told the story of how the notorious thief Dikko Chanda brought two stolen rams to him for Sallah. According to Gambu, he complained that God will not accept such a sacrifice. Dikko Chanda retorted that he should not worry about Allah’s reward but should worry about the shame he will feel if neighbours see that he did not slaughter a Sallah ram. On Sunday, the day after Sallah, I found a big bowl of fried ram meat in my bedroom. I was in quandary. The aroma is very sweet but since 2012 when I experienced sudden chest pain, a doctor ordered me to cut red meat consumption and stick to fish and chicken. He did not provide the money, which made it difficult to adhere to his costly prescription. Please advise me. Should I leave this meat on the say so of a doctor?

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