TUESDAY 19TH JULY 2022

NNPC Transition: Group CFO Expected to Intensify Internal Checks, Control FG to Halt funding as national oil company transforms fully to commercial entity today Eyes IPO in June 2023 as Kyari assures NNPC will run as world class firm Says Dangote refinery ready Q1, 2023 Emmanuel Addeh in Abuja and Peter Uzoho With the Nigerian National Com-

pany Limited (NNPC) officially transitioning into a private entity that would be regulated in line with the provisions of the Companies

and Allied Matters Act (CAMA) from today, the Group Chief Finance Officer (Group CFO) will be expected to shoulder ad-

ditional responsibilities of not only ensuring the liquidity of the group but efficient allocation of capital to businesses based on rate of return

and business/project priorities.

Also, as the NNPC transitions to a full commercial entity today, the federal government would

henceforth halt all forms of funding for projects and sundry purposes in contrast to what has obtained Continued on page 11

2023: INEC in Talks with CBN over Election Materials Storage, Says Okoye... Page 35 Tuesday 19 July, 2022 Vol 27. No 9961. Price: N250

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Tinubu, Adeboye Meet over Muslim-Muslim Ticket... Page 34

Seven Takeaways from Osun Gubernatorial Election Adedayo Akinwale in Abuja Last Saturday’s governorship election in Osun State, which saw candidate of the opposition Peoples Democratic Party (PDP), Senator Ademola Adeleke, emerged winner,

has left on the political space, some instructive takeaways no one can gloss over at this material time.

Although the takeaways cut across interests and political parties, the inherent lessons addressed some of the mistakes, identified the

strengths that played in, exposed the weaknesses that unsettled certain equations and hinted at the prospects therein for the actors to cultivate and leverage ahead of next year’s election.

The Power of BVAS

Saturday’s governorship election in Osun State, was one of the finest undertakings by the Independent National Electoral Commission (INEC), if and when the success is measured.

This, however, was made possible, largely because of the use of the Bimodal Voter Accreditation System (BVAS), an electronic device designed to read Permanent Voter Cards (PVCs) and also authenticate voters.

The Osun election, to a very

reasonable extent, was credible, free and fair, thus producing the sort of result difficult for any honest competitor in the election to challenge, not even the defeated Continued on page 10

Winners and Losers: How They Shaped Osun Governorship Poll Chuks Okocha Last weekend’s governorship election in Osun State, was a keenly contested exercise, which threw up

quite a surprise, and further left in its trail, natural expectations – winners and losers – but, with a different mix.

Save for some major and defining

amendments to the Electoral Act, which introduced a good use of technology and by implications, plugged avenues for electoral manipulations, there was actually

very few distinguishing markers between the 2018 governorship election in the state and the one held on Saturday, July 16, 2022.

Candidate of the opposition

Peoples Democratic Party (PDP), Senator Ademola Adeleke, was the candidate to beat in both elections.

However, while there were alleged manipulations in 2018, after the

stalemate, which resulted in a rerun and the eventual victory of the outgoing governor, Gboyega Continued on page 10

WINNERS

Muhammadu Buhari

Ademola Adeleke

David Adeleke

Atiku Abubakar

Ifeanyi Okowa

Iyorchia Ayu

Seyi Makinde

Abdullahi Adamu

LOSERS

Bola Tinubu

Gboyega Oyetola

Ayo Fayose

Nyesom Wike

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

FLOURISH AFRICA 5TH ANNIVERSARY AND GRANT AWARD CEREMONY...

L-R: Panelist, Mrs. Ibukun Omololu; Founder, Flourish Africa, Mrs. Folorunso Alakija; Panelists, Mrs. Chinwe Uzoho and Mr. Albert Afolabi, during a session titled, ‘Navigating the Current Economic Crisis: Creating PHOTO: SUNDAY ADIGUN Financial Stability and Longevity in Business,’ at Flourish Africa's 5th anniversary and grant award ceremony held in Lagos...yesterday

AfDB, SEC Sign Agreement on Market Surveillance System Project Ndubuisi Francis in Abuja In a bid to modernise Nigeria’s capital market and ensure that it is well positioned to support economic transformation driven by private sector investment, the Securities and Exchange Commission (SEC) and the African Development Bank Group (AfDB) have signed an agreement for a grant on market surveillance system project.

With this, the bank is providing a $460,000 worth of grant to finance technical assistance and capacity-building for capital markets development under the 'Nigeria Securities Market Surveillance System Project.'

The Director General, African Development Bank Group Mr. Lamin Barrow, said the grant from the Capital Markets Development Trust Fund (CMDTF), a multi-donor trust fund administered by the AfDB and supported by the Ministry of Finance of Luxembourg and the Ministry of Foreign Trade and Cooperation of the Netherlands, would support the acquisition, installation and deployment of a real-time automated securities market surveillance system of the Nigeria capital markets.

A statement from SEC quoted Barrow as saying: "Today's ceremony marks yet another important milestone in our partnership and

efforts to modernise Nigeria’s capital markets and ensure that it is well position to support economic transformation driven by private sector investment.

"The introduction of a surveillance system will enhance oversight over securities trading across all existing and future trading platforms and all tradable securities and products by the SEC. “It will therefore preserve securities market integrity, boost investor confidence and enhance financial inclusion, among other expected outcomes."

According to him, to ensure sound implementation and sustainability, the design of the

technical assistance project embeds training activities to strengthen the capacity of users of the securities market surveillance system, and the preparation of relevant operational manuals and workflow processing and document management for the surveillance solution.

The AfDB Director General said the bank’s support for the project derived from the federal government of Nigeria’s efforts to promote development of a competitive, deep and liquid capital market supported by an enabling regulatory environment that could efficiently mobilise resources from the nation’s fastgrowing institutional investor base,

UBA Group Expands Operations to EMEA, Launches New Branch in Dubai Obinna Chima The United Bank for Africa (UBA) has extended its operations to the United Arab Emirates with the official launch of its new branch at the Dubai International Financial Centre (DIFC).

UBA, which is known as Africa’s global bank, until the latest expansion of its operation had for over seven decades, operated in 20 African countries, the United Kingdom, the United States of America and France.

The UBA (DIFC Branch) would operate under the Category 4 licence and would be regulated by the Dubai Financial Services Authority (DFSA), the financial regulatory agency of the special economic zone, the Dubai International Financial Centre.

The UBA branch in the DIFC would service corporate & financial Institutions and customers across the Middle East with a core focus on correspondent banking, relationship management and advisory services.

Through this new expansion, the UBA Group would be able to harness opportunities in the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of three billion and a nominal GDP of $7.7 trillion and thereby, reinforce its strong franchise as Africa’s Global Bank, facilitating trade and capital flows between Africa and the rest of the world.

Speaking during the launch of the new subsidiary in Dubai recently, the Chairman, UBA Group,

Mr. Tony O. Elumelu, explained that with the Group’s foray into the Gulf Region, UBA continues to focus on its strategic intent to lead the way when it comes to doing business in Africa.

He said “Collaborating with our franchises in 20 African countries and the major financial centres of London, New York and Paris, UBA (DIFC Branch) will facilitate the financing of trade transactions between the Middle East and Africa, enabling trade finance and investments.

“We have been looking forward to this day as it is the first time we will have presence in this part of the world. We know that our international expansion is incomplete if we are not present in the gulf.

“So, today, we are now formally in four continents across the globe and serving over 35 million customers and still growing. Today also shows that UBA is also a strong franchise and we are expanding our reach across the world.

“We are considering other locations that would complement what we are doing. This is just the beginning. On behalf of every one in UBA and our customers that made this happen because without them we would not achieve much, we say thank you to them and thank you to the authorities of UAE for granting us this authorisation to operate.”

According to Elumelu, who is also the Founder of the Tony Elumelu Foundation (TEF), pointed out that UBA is the only bank with Nigerian origin that has extended

out of Nigeria to the UAE. “All others have come through other locations and it shows the strength and respect that the authorities in Dubai have for UBA. We are always very deliberate in executing our strategy. We have a long-term view, but we take them one step at a time.

“That is why you have seen consistent progress by UBA. It is not common to find enterprises with that kind of pedigree.”

Also, UBA's Group Managing Director/CEO, Mr. Kennedy Uzoka, who also spoke at the event said: “Today, we are formally on four continents across the globe, operating in 24 countries, serving over 35 million customers and still growing.

“We are the only bank with Nigerian origin that has extended out of Nigeria to the UAE. Those before us have come through other locations and that shows the strength and respect the Dubai authorities have for UBA. Our presence in Dubai affirms that UBA is a strong franchise, expanding its reach across the world.”

Uzoka added: “The authorities and business environment here in the DIFC is phenomenal and UBA is seeing Dubai as the gateway for Africa and that is why we are here, to be closer to our clients, to be partnering with them and facilitate businesses and trade flows into Africa through the UBA franchise.

So, we are super excited.”

the private sector and international capital to finance sovereign and corporate investment programs.

"The technical assistance support builds on the SEC’s initiatives to strengthen the supervisory and regulatory framework as well as enhance market integrity and transparency under the Nigeria Capital Markets Development Master Plan 2015-2025, with a view to position Nigeria as an attractive destination for portfolio investments.

"It also aligns well the bank’s Country Strategy Paper for Nigeria 2020-2024 which recognises the importance of a sound, well-regulated, resilient, effectively functioning and globally competitive financial markets in Nigeria for sustainable growth and development," he said.

Barrow stated that at a time when economies are buffeted by global shocks, improving the attractiveness of capital markets to domestic and portfolio international investors is imperative for greater resource mobilisation and building resilience to sustain Africa’s economic recovery.

He said the pandemic had reinforced global risk aversion, prompting international investors to move their portfolios into safer assets and havens, expressing the desire to see the growth of the equities market well beyond the current N28.16 trillion underpinned by continued growth of the corporate bond market in Nigeria.

In his remarks, the SEC Director General, Mr. Lamido Yuguda said the Commission was very pleased and thankful to AfDB for providing the grant support to execute the very important projects, particularly

the project to acquire a surveillance solution.

Yuguda said a market surveillance system is required to aid the regulator in detecting and addressing market abuse as quickly and efficiently as possible and to proactively prevent major infractions.

An automated market surveillance tool will enhance the Commission’s role in investor protection, as well as ensure a transparent, fair and orderly market and reduce systemic risk.

According to him, "With the successful acquisition of a surveillance solution for the Commission, the SEC expects the following outcomes: The curtailment of market infractions; a modernised and technology driven regulatory approach which enhances the protection of investors; enhanced investor confidence leading to the increased participation of domestic investors (both institutional and retail) in the capital market."

He said the surveillance solution would also aid an increased impact on gross domestic product (GDP) through the capital market’s role in the efficient intermediation and allocation of capital to the real economy to create jobs, encourage savings and facilitate wealth creation as well as increased investment in the economy through foreign direct investments and growth in the rate of domestic investor participation in the markets.

Yuguda disclosed that the SEC is currently implementing a comprehensive market and institutional reform programme intended to reposition the Nigerian capital market to be globally competitive and an attractive destination for investment activities in Africa.

Buhari Rejoices with New NBA President, Maikyau Hold tenets of law profession with dignity, Akeredolu charges him Deji Elumoye in Abuja and Fidelis David in Akure President Muhammadu Buhari has felicitated with the Nigerian Bar Association (NBA) on the successful conclusion of its conference which culminated in the election of Mr. Yakubu Chonoko Maikyau as president.

The president, according to a statement yesterday by his Media Adviser, Femi Adesina, congratulated the legal luminary for emerging the 31st president of the highly revered association, which has over the years played a major

role in democratic and economic development of the country, with advocacy, counselling and partnership with governments.

Buhari hailed the outgoing president of the NBA, Olumide Akpata, and all the national leaders who took the association to a higher level, particularly with building new partnerships and integration of technology.

The president Buhari said he looked forward to a healthy working relationship with the new national leaders of the NBA, believing the noble and patriotic antecedents of the legal body will be upheld, and

further projected to the world.

In a related development, Ondo State Governor, Mr. Oluwarotimi Akeredolu, yesterday charged the new leadership of the NBA, led by Maikyau, to be above board and hold the tenet of the law profession with dignity.

In a congratulatory message made available to journalists in Akure by his Chief Press Secretary, Richard Olatunde, the governor commended the association for the smooth leadership transition.

The governor also saluted Akpata for consolidating on the gains recorded by past presidents of

NBA and toeing the path of integrity and courage the NBA had been known for.

“I congratulate Mr Yakubu Chonoko Maikyau,SAN. The NBA, over the years, has continued to safeguard human rights and promote the rule of Law. We owe it as a duty not to lose sight of this onerous responsibility.

“As a former President of the Bar, I am aware that the people will always look up to you to speak on their behalf. The Bar has an active role to play in the socio-economic development of the country. We can’t afford to let the people down.

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TINUBU ON CONDOLENCE VISIT TO KEMI NELSON'S FAMILY...

R-L: Senator Remi Tinubu; her husband and All Progressives Congress Presidential Candidate, Bola Ahmed Tinubu, commiserating with the family of late former APC South-west Zonal Women Leader, Mrs. Kemi Nelson at Lekki, Lagos...yesterday

ASUU: NUC Seeks VCs’ Support to End Protracted Strike Northern students’ group direct 19 state chapters to join NLC protest Adedayo Akinwale and Kuni Tyessi in Abuja The Executive Secretary of the National Universities’ Commission (NUC), Prof. Abubakar Rasheed has urged Vice Chancellors of Nigerian universities to intervene in the ongoing industrial dispute between the Academic Staff Union of Universities (ASUU) and the federal government.

Rasheed made the call in Abuja yesterday, at the 2022 Retreat for Vice-Chancellors of Nigerian Universities’ and Directors of inter-university centres.

He described university education as fundamental to the success of any economy.

According to him, nations all over the world explore teaching, research and community service to the developing of technical resources for the development of aspirations and goals.

He, therefore, said there was the need to put in place measures, identify challenges and come up with solutions to reposition the university system.

“This year’s retreat is bordering on area of threat and uncertainty in our public universities, due to the unfortunate strike, especially as ASUU is in its sixth months now.

“And as vice-chancellors, we have a deep understanding of the negative consequences of the prolonged closure of universities.

“We know what it means in terms of our operation as an economy.

“As vice-chancellors, we know what this strike means in terms of our institutions’ reputation but more importantly, we know what it means in terms of the future of the youths.

“Our retreat must, therefore, identify and support ongoing efforts by government and the ministry of education to end this strike, by putting credible measures of ensuring stability in our campuses.”

Rasheed also said the Commission had been involved in comprehensive curriculum review and had created many new academic programmes in the university system.

He identified data science, analytics and mobile communication as programmes now added to the family of information technology in the universities.

He said the commission had also unbundled a number of programmes, especially in Mass Communication and Agriculture to provide for independent degree programmes.

He charged them to fulfil their primary role and their mandate, while sympathising with them on how difficult their role is especially during the currently strike.

He charged them to make use of the retreat to open up the problems and challenges in the system while

coming up with recommendations that would strengthen the Nigerian universities system.

Also, the Minister of State for Education, Mr. Goodluck Opiah, urged the vice-chancellors to maintain their key role in ensuring adherence to their mandate.

Opiah urged the vice-chancellors to manage the day-to-day administration of the universities, by working with university’s council and the government to promote the fortune of the university education.

He also commended the NUC for

its various initiatives in repositioning the university system.

Meanwhile, the student’s wing of the Coalition of Northern Groups (CNG) has directed all its state chapters to mobilise students and parents to join Nigeria Labour Congress (NLC) for a massive protest that would entail the shutting down of activities in all states and National Assembly, major highways, airways and railways.

The NLC has expressed its resolve to hold a two-day national protest, between July 26th and 27th,

Plans strict enforcement across jetties next week Gilbert Ekugbe Expressing concern over the recurring incidents of boat mishaps in the country, the National Inland Waterways Authority (NIWA), yesterday announced the introduction of a new water transport code.

The move according to the Authority was apt following the recent boat mishap that claimed over 19 lives along the Ojo area of Lagos.

The Area Manager, NIWA, Mrs. Sarat Braimah, who spoke at a sensitisation exercise for three communities, stated that the water

transport code gazetted last month would be strictly enforced in all the riverine communities across the country.

"By next week, NIWA will do a thorough enforcement in all the jetties in the country. All the fake and substandard life jackets will be seized and burnt so that we will know that we have eradicated this menace completely to start a new life with these communities," she said.

She also said due to efforts to curb the menace of boat accidents and consequent loss of lives, the Authority had gotten a new law

Governor inspects pace of work on two multi-agency buildings Hamzat, and some members of the Executive Council joined the governor on the inspection.

The Revenue House is a multi-department office complex being put up to accommodate all revenue-generating agencies of the state government under one roof.

The Lagos Inland Revenue Service (LIRS) would be occupying substantial space in the building, while other agencies, including Lagos State Lottery and Gaming Authority, Motor Vehicle Administration Agency (MVAA) and Lagos State Signage and Advertisement Agency (LAASA), among others would share the rest of the space in the complex.

the disadvantages of the closure as disproportionate underprivileged students who have fewer or zero educational opportunities beyond Nigeria as their parents are unable to redirect them to foreign-based/ private owned schools that remain open.

The group lamented that politicians have also been unconcerned about the strike, saying their major concern had been how to secure the next election, rather than securing the next generation and the future of the country.

Boat Mishaps: NIWA Introduces Water Transport Code

Lagos Revenue House Ready in September, Says Sanwo-Olu The comprehensive renovation of the Revenue House of the Lagos State Government would be completed by the end of next month, with the contractor putting finishing touches on the imposing edifice located in Alausa, the seat of government, Governor Babajide Sanwo-Olu disclosed yesterday.

The governor led an on-the-site inspection of the ongoing renovation work at the eight-storey building formerly known as Elephant House, promising that the building would be open for use fully by September.

According to a statement, the Deputy Governor, Dr. Obafemi

to demand the immediate reopening of the country's public-owned tertiary institutions which had been shut down for five months.

Owing to this, the National Coordinator of the group, Jamilu Charanchi in a statement yesterday, observed that the federal government and ASUU have been at loggerheads over the failure of the former to fulfil some of the agreements it made as far back as 2009.

It also observed that the federal government was unconcerned by

Keeping the revenue agencies under a roof, Sanwo-Olu said, was an idea to improve their individual capacity for overall efficiency and collective delivery of their mandates. The Governor said the edifice would offer a one-stop-shop revenue services for individuals and organisations paying taxes to the Government.

He said: “The importance of this Revenue House is that it houses the significant number of our core revenue-generating agencies, with LIRS being the major occupant of the edifice. The whole idea of putting them in one office complex is for them to share facilities together and improve on

their individual capacity.

“More importantly, the singleoffice complex will offer our citizens and organisations a one-stop shop to come in and complete a lot of statutory transactions in this building, which include licence renewal, issues about vehicles, tenement rate, land assessment and general land administration. This is why I am interested to see how faster we can finish this project.”

Sanwo-Olu noted that the renovation work was a bit longer than he had anticipated, but said making the renovation work comprehensive would make the usage of the building to last longer.

to mete out 7-year imprisonment to owners of jetties where boat operators violate regulations.

Braimah said the new legislation was part of government’s effort to curb the incessant loss of lives occasioned by non-compliance to waterway regulations.

“The Ministry of Justice has gazetted a new waterway regulation which stipulates seven years imprisonment for community leaders who operate jetties as well as private operators where boats are overloaded. The same penalty goes for operators and passengers who fail to use lifejackets and other non-compliance to waterway regulations,” the NIWA Area Manager said.

She directed the seizure of substandard life-jackets found at retail stores around the communities even as she described substandard life-jackets to be as deadly as fake drugs.

While donating authentic life-jackets to the communities, the NIWA boss also seized the opportunity to differentiate between fake or substandard life-jackets and standard ones.

Noting that most boat accidents occur at early hours or late at night, she reiterated that NIWA had banned night sailing beyond 7pm.

Speaking at Sagbo Koji, one of the riverine communities visited, Braimah said: “We are here to rub minds with your community in order to curb boat accidents and consequent loss of lives.

“You can tell us where the government has lapses so we can improve, while we work together

to remove the human element problems. Most boat accidents are results of human element which is non-compliance to regulations.”

“We have repeated it severally that there should be no night sailing from 7pm. It is better to stay alive and travel the next day than to endanger your life at night. I’m pleading with the three Baales here to help us achieve this.

“Boat drivers should have licenses because training is key.

Don’t patronize unregistered boats and unnamed boats. There will be NIWA stickers to identify registered boat.”

Addressing boat drivers, she warned them not to drive boats without paddles as they would be unable to ferry such boats to the nearest shore if the boat engine suddenly fails.

Some of the community leaders, Baale Anthony Avime, Sagbo Koji; Baale Houeto Bernard, Whla Koji and Baale Sohome Bishop Koji commended NIWA for the sensitisation visit.

Meanwhile, the Community Youth Leader at Sagbo Koji, Mr. Bobby Sanni has advised the Authority to include youths in their taskforce because most police officers and NIWA operatives close from jetties at 6pm, but the youths could help spotlight nocturnal operations.

In her response, the NIWA Area Manager assured that the Authority would partner the youths in the community to achieve its mandate, even as she led the NIWA team to the Irede community around Abule-Osun, and Ibeshe community for the sensitisation campaign.

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COURTESY VISIT BY AFRICAN PETROLEUM PRODUCERS’ ORGANISATION...

L-R: Acting Permanent Secretary, Ministry of Petroleum Resources, Engr. Kamoru Busari; Minister of State Petroleum Resources, Chief Timipre Sylva; Secretary General, African Petroleum Producers Organisation (APPO), Dr. Farouk Ibrahim, and Acting Chief of Staff to Sylva/OPEC Governor, Dr. Adedapo Odulaja, during a courtesy visit by APPO to the minister, in Abuja...yesterday

Aero Contractors Shuts Down Flight Operations Chinedu Eze Nigeria’s oldest airline, Aero Contractors has announced its suspension of flight operations in the country.

The airline in a statement said this was due to challenging operational environment.

In May this year, THISDAY had reported that barring any intervention that the airline, which had operated for 61 years, might go under.

The company in the statement yesterday, explained: “Due to the impact of the challenging operating environment on our daily operations, the management of Aero Contractors Company of Nigeria Limited wish to announce

the temporary suspension of its scheduled passenger services operations with effect from Wednesday, July 20, 2022.

“This does not in any way affect the maintenance activities of the Approved Maintenance Organisation (AMO) otherwise known as AeroMRO, the Approved Training Organisation (ATO) also known as Aero Training School, the Helicopter and Charter Services operations.

“This decision was carefully considered and taken due to the fact that most of our aircraft are currently undergoing maintenance, resulting in our inability to offer a seamless and efficient service to our esteemed customers.

“We are working to bring these aircraft back to service in the next

few weeks, so we can continue to offer our passengers the safe, efficient, and reliable services that Aero Contractors is known for, which is the hallmark of Aero Contractors Company of Nig. Ltd,” the airline said.

It also explained that the past few months have been very challenging for the aviation industry and the airline operators in particular with the high cost of maintenance, skyrocketing fuel prices, inflation, and forex scarcity resulting in high foreign exchange rates, adding that these are amongst the major components of airline operations.

“In the meantime, we are working assiduously to return to service as quickly as possible, and do assure our esteemed customers

and stakeholders of our determination, that our short absence will not create any major void in the market, as we are coordinating with our business partners to ensure minimum discomfort to ticket holders.

“As members of Spring Alliance (a commercial alliance with member airlines providing mutual support in the area of operations), we are liaising with our partner airlines to minimise the impact on our esteemed customers.

“Our customer service team will be working to help affected esteemed customers reach their destinations. We sincerely apologise for any inconvenience caused to our esteemed customers and promise to return to service as soon as possible,”

Report: NSITF, Immigration Service Yet to Submit Annual Financial Statements in 12 Years Ndubuisi Francis in Abuja

The Nigerian Social Insurance Trust Fund (NSITF) and the Nigeria Immigration Service (NIS) did not submit their annual financial statements to the Fiscal Responsibility Commission (FRC) since 2010, in clear breach of the Fiscal Responsibility Act (FRA, 2007), a new report has revealed.

The Act empowers the Commission to carry out reconciliation of accounts of the ministries, departments and agencies (MDAs) of the federal government, and monitor and ensure that they do not spend outside of the amount appropriated to them.

According to the first part of the report titled, "Where is the Money,"- a revenue remittance compliance index of federal government MDAs, out of the 150 MDAs captured, 58 were categorised as 'Above Average Compliance,' 73 were listed under 'Average Compliance Category' and 19 as 'Below Average Compliance.'

The report, which was a collaborative effort of the OrderPaper Advocacy Initiative (OAI) and its partners in the Growth Initiatives for Fiscal Transparency (GIFT) Nigeria Project, was unveiled in Abuja yesterday.

From a total of 19 defaulting federal agencies listed under the, 'Below Average Compliance Category,' the NSITF came top, having failed to submit its annual financial statements to the FRC

for scrutiny since 2010, while the Nigeria Immigration Service is in default since 2012.

Also, in the 'Below Average Compliance' category were the Central Bank of Nigeria (CBN), Federal Mortgage Bank of Nigeria (FMBN), National Pension Commission (PENCOM), Nigeria Content Development and Monitoring Board (NCDMB), Nigerian Bulk Electricity Trading PLC (NBET), Nigerian Drug Law Enforcement Agency (NDLEA) and the Nigerian Copyright Commission (NCC), among others.

A total of 73 MDAs under the "Average Compliance Category' are agencies that have not submitted their annual financial statements between 2018 and 2020.

Some of others included the Federal Inland Revenue Service (FIRS), Federal Radio Corporation of Nigeria (FRCN), National Youth Service Corps (NYSC); Federal High Court, Abuja; Bureau of Public Enterprises (BPE), Nigerian Ports Authority (NPA); Nigerian National Petroleum Company (NNPC) Ltd.; Nigerian Postal Service (NIPOST), Nigeria Deposit Insurance Corporation (NDIC) National Insurance Commission (NAICOM), Federal Airports Authority of Nigeria (FAAN), Nigerian Customs Service (NCS), Nigerian Investment Promotion Council (NIPC), Nigerian Television Authority (NTA), Securities and Exchange Commission (SEC), and Standards Organisation of Nigeria (SON), among others.

Furthermore, in the 'Above Average Compliance Category,' were MDAs that have no pending annual financial statement to submit or just that of 2021.

Some of them included the Corporate Affairs Commission (CAC), the Nigeria Press Council (NPC), the National Agency for Food and Drugs Administration and Control (NAFDAC), Nigeria Electricity Regulatory Commission (NERC), Joint Admission and Matriculation Board (JAMB), Nigerian Export Promotion Council (NEPC), News Agency of Nigeria (NAN), Nigerian Export Promotion Zones Authority (NEPZA), Nigerian Railway Corporation (NRC), Nigerian Oil Spill Detection and Response Agency (NOSDRA), National Broadcast Commission).

Speaking at the unveiling of the report, the Executive Director, OrderPaper, Mr. Oke Epia said his organisation embarked on the collation of the data to help ensure revenue remittances to the Consolidated Revenue Fund (CRF).

According to him, the passage the reviewed Fiscal Responsibility Act was necessary to strengthen the Fiscal Responsibility Commission to carry out its mandate of policing the MDAs with a view to shoring government revenue.

Epia noted that a rise in government revenue was an incentive to less borrowing.

He pointed out that the index as captured by the report was derived from the FRC and highlights agencies that are defaulting in

the remittance of government revenues.

He said: "We are implementing a project we call Gift Nigeria. Gift Nigeria stands for Global Initiatives for Fiscal Transparency and it seeks to interrogate the issues of transparency and accountability in the petroleum sector especially as it relates to revenue mobilisation and remittances into the Federation Account.

Continued online

the airline stated.

But the signs that the airline would go under was indicative two months ago when the airline fleet was reduced to two aged aircraft - Bombardier Dash 8-300 and Boeing 737-500 - in their early 30s and totally bereft of operating cash, which brought the airline down to its knees and it became moribund.

THISDAY learnt that the airline’s bad situation was exacerbated by the high cost of aviation fuel which has continued to spiral, threatening the operations of other domestic carriers.

The airline, which had provided shuttle service for oil and gas industry for decades and extended its service to scheduled flight operations since 2000, was burdened by about N50 billion debt overhang.

THISDAY investigations revealed that economic recession occasioned by the COVID-19 lockdown and protracted low season after December heavy passenger traffic demand, culminated to the financial drought of the airline.

Before this announcement by the management, the airline was finding it difficult to fuel its existing fleet Two months ago the management of the airline confirmed to THISDAY the precarious state of the airline and identified factors that led to debilitating condition of the indigenous carrier and had pointed out that the Aero could stop operation at any time because the management was finding it increasingly difficult to keep the

aircraft in the airspace.

“Maintenance cost is high, foreign exchange is not available and the high fuel price in addition to the fact that after the high Christmas season, there was low passenger traffic from later January till Easter period. Then we are also contending with overhead, which is so much.

“When you have no traffic and what you are generating cannot defray operating cost, you cannot survive. We are still operating but from the rate we are going we may shut down anytime,” the airline had told THISDAY. THISDAY also learnt that because the aircraft in the fleet were old and breakdown very often, the cost of maintenance was high, “and spares have to be imported and even insuring the aircraft requires foreign exchange.”

Aero Contractors had faced the threat of going under few years ago and had even stopped scheduled flight service when it was rejuvenated when the immediate past CEO of the airline, Captain Ado Sanusi took it over in February 2017. The airline which was under receivership was being managed by the Asset Management Corporation of Nigeria (AMCON), which initially pumped money into the airline, but that effort sustained it for some time, but was fully revived when Sanusi rekindled and expanded its aircraft maintenance branch, which is the department along with charter and training services that would continue to operate after the shutdown of its flight schedule services.

Obaseki’s Civil Service Reforms Get Commendation as Bayelsa Sends Delegates to Understudy Model Efforts by the Governor Godwin Obaseki-led state government to transform the state’s public service and reposition it for efficient service delivery have received commendation from the Bayelsa State Government.

Officials of Bayelsa State who were in Benin City to understudy reforms in the state’s civil and public service, were quoted in a statement to have said the government was recording progress in its vision of making Edo great again.

The delegation led by the Bayelsa State Attorney General, Biriyai Dambo, was received by the Edo State Head of Service, Anthony Okungbowa.

According to the statement, they visited the Office of the Secretary to the Government, Osarodion Ogie; the Treasury House, “where they

had a robust session with Commissioner of Finance, Joseph Eboigbe and the Accountant General, Mr. Julius Anelu; the Edo Data Centre and the Edo State Health Insurance Scheme (EdoHIS) Complex, among others.”

Addressing the delegation, Okungbowa said the state had put in place mechanisms to ensure the transformation of the civil service, ensuring every worker is equipped with the right tools and skills to contribute to the growth and development of the state.

Reassuring the government’s commitment to the welfare of workers in the state, the Head of Service said the, “Government will sustain efforts to strengthen the productive sector and pursue more impactful policies across all sectors of the state to guarantee

better livelihoods for the people.”

Okungbowa highlighted some reforms and programmes embarked on by the state government to ensure a productive service to include the Civil/Public Transformation and Enhancement Programme (EdoSTEP), which is a new initiative to improve efficiency in the state’s civil and public service; the e-governance system, which has helped the government to ensure effective delivery by introducing modern work ethics; the renovation and remodeling of work environment, and the increase in workers’ salaries and allowances.

On his part, Dambo commended the government for prioritising the welfare of workers in the state, hailing the Governor’s transformational strides in civil and public service.

TUESDAY JULY 19, 2022 • T H I S D AY

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TEN WINNERS AND LOSERS: HOW THEY SHAPED OSUN GOVERNORSHIP POLL Oyetola, the 2022 experience played slightly differently.

Like the 2018 election, the buildup to last Saturday’s election, had also placed Adeleke as the candidate to beat, including some polls, which had allegedly indicated that barring any last minute changes, the “dancing senator” would emerge winner.

But unlike 2018, in which the political house of the ruling All Progressives Congress (APC) managed to paper its cracks, the walls were completely broken down in the lead up to the recent election.

With some of the major actors like the Minister of Interior and two-terms former governor of the state, Rauf Aregbesola, playing against some actors in his party, including Bola Tinubu and Gboyega Oyetola, the 2022 election stopped looking good for the APC and its candidate months ago.

Interestingly, it wasn’t all bed of roses for the PDP either. While the party in the state, was largely put together, aside the malcontents generated during the primary election against Adeleke, the PDP was seen to have welcomed more members from other parties. Yet, the subsisting disagreements amongst some of its leaders at the national front, nearly undid things for the party in the state.

But because all politics is local, Adeleke and a few other stakeholders in the state, applied the right adhesive to hold all that they had together and maintained that reality up onto the election, thus leveraging the advantage of one-house and relative support from the rest of the national leadership.

Clearly, these pockets of disaffection in both parties, although a lot more manifest in the APC, gave rise to the cross-over winners and losers across the two parties. In other words, while the winner party had losers in its fold, the loser party also had winners amongst them.

These intricacies have helped, albeit not by default, in the production of winners and losers from last Saturday’s election in both parties.

Also, being the last off-season election before the 2023 national elections, the outcome of the Osun election is also being interpreted variously by the parties, giving fillip to why Osun, at this time, was crucial in the electoral calendar of the country.

THE WINNERS WINNERS THE Muhammadu Buhari

President Muhammadu Buhari is arguably the number winner in the just concluded governorship election in Osun State. He created the environment for a credible, free and fair election through an improved electoral act that is intolerant to rigging or any form of manipulation.

Buhari might have performed below average in many of the boxes of his promises to the Nigerian people, the fact that elections have improved over time is a function of his dedication to a legacy of sound electoral system, which he promised to bequeath on the nation.

Small wonder, he was one of the first persons to congratulate Adeleke, saying the people of Osun had spoken through their ballot and that their will must matter and be respected. It certainly can get better, but this, at least, is noteworthy.

Ademola Adeleke

Outside of his state, candidate of the PDP and winner of the July 16 governorship election, Senator Ademola Adeleke, was given no chance at all in the election. Not a few people thought he was a serious candidate for an office as high as the governor of any state at all.

With a supposedly poor education (whose ante he upped recently), his rather clownish disposition as one who loves to dance and seemingly uninspiring policy (because he never presented any), he was the last person many people would have considered for the office of governor.

The misgivings nonetheless, he remained tenacious and refused to be distracted by some of the unsavoury remarks about him, especially, from those who considered him less fit for the office. And if in

Bukola Saraki

Olagunsoye Oyinlola

spite of this, he still went ahead to win the election, with remarkable votes difference, his victory is worth celebrating.

David Adeleke (aka Davido)

Mega hip-hop star, David Adeleke, whose stage name is Davido, and a cousin to the governor-elect, was a visible factor throughout the campaign period.

Davido used his music and influence to campaign heavily for his uncle and brought many people on his side, especially, the youths, who could relate to his type of music.

Although Davido did not just start the campaign for his uncle, he however stole the show, when he took to streets campaigning for his uncle. He made such an impact in his uncle's campaign and took no prisoners as far as his aspiration was concerned, including challenging other family members, who tried to stand in the way of his favourite uncle.

Atiku Abubakar/ Ifeanyi Okowa

The presidential duo of the PDP, Atiku Abubakar and Ifeanyi Okowa, are also winners in the Osun gubernatorial election. The election was a burden on their career and aspiration, yet, the internal squabbles in the party was almost going to throw spanner in the works for them. But they were not deterred.

Determined, they mobilised to Osun, sold their programmes and party and the result was the outcome of the election. No doubt, the election was a big psychological and moral boost for their quest to become president and vice-president respectively.

Atiku, last week in Osogbo during the PDP campaign, had said a victory for the party in Osun would be a major leap to winning the presidential election next year and so it has happened.

That explains why he cut short his vacation to attend the PDP mega rally, refusing also to attend his graduation ceremony in London.

They are two of the winners.

Iyorchia Ayu and PDP NWC

Before the Osun election, it’s not been the best of time for the National Chairman of the PDP, Dr. Iyorchia Ayu, and the PDP NWC members.

Coming at a time some members of the party were calling for Ayu’s sack over some agreement he allegedly shared to resign should the presidential candidate of the party come from the north, the Osun victory provided some relief, perhaps, temporarily.

This is especially so, since the party in June, lost the governorship election in Ekiti State due to the local politics of the state. Osun, has however, provided a huge psychological boost for a rather wobbling NWC of the party. This has also raised the stakes in the South-west state for the party and a launch pad to return to reckoning.

Bukola Saraki

Kwara State-born former Senate President, Dr. Abubakar Bukola Saraki, is yet another winner. Saraki, unlike many others, worked so hard to ensure the victory of the PDP in Osun.

He left his comfort zone, in company with the governors of Edo State, Godwin Obaseki and the chairman of the national campaign committee, Governor Douye Diri of Bayelsa State, and plotted day and night to ensure victory for the PDP. Aside campaigning for Adeleke, he has also been a peacemaker in the party over time, just so everything could go well. Saraki demonstrated the spirit of a good and patriotic party man and put his all in the

Rauf Aregbesola

collective effort that gave birth to the PDP victory.

Olagunsoye Oyinlola and Co

A former governor of the state, Olagunsoye Oyinlola and some other stakeholders of the party in the state, who had suffered humiliation and relegation, yet, put away their pride to work for the PDP victory. They were some of the unseen winners.

This includes the likes of Eyitayo Jegede, PDP governorship candidate in Ondo State, whoalso worked hard to unite the factions of the PDP in the state and mobilised heavily.

They deserve to be congratulated as part of the brain for the Saturday victory.

Rauf Aregbesola

One of the major factors that undid APC in Osun is the Minister of Interior, Rauf Aregbesola, who a long time ago, parted ways with both outgoing governor, Oyetola, and the presidential candidate of the APC, Bola Tinubu, at an open gathering of party faithful.

Supporters of Aregbesola thereafter went all out to vow to ensure Oyetola did not return. The only caveat they gave for his likely win was if they were the ones, who betrayed him.

Although since the open gathering, where Aregbesola announced his parting of ways with the APC leaders, he had not said anything afterwards, but was believed to have worked against the party, even though no one knew in what way. Plus or minus, Aregbesola is a cross-over winner.

INEC and Security

The duo of INEC and combined security agencies, who conducted the election and secured Osun before, during and after the election, were the real deal. This is because without them, there couldn’t have been winners and losers at all.

Also, without them, there could have been a clean electoral process.

Without them and their well-trained staff, there could not have been a hitch-free exercise. INEC and the

Mahmoud Yakubu

security agencies had over time risen to the occasion and currently not doing badly at elections. They are very major winners.

Abdulsalami’s Peace Committee

A row-call of the winners at the just concluded Osun governorship election would be incomplete without the National Peace Council (NPC) headed by a former Head of State, General Abdulsalami Abubakar.

Since set up, the intervention of this committee during elections, has always paid off, thus reducing tension and creating a friendly as against an atmosphere of crisis.

Like they were wont to do, they intervened in the Osun election from day one and were involved all through. Even where Abdusalami was not available, his deputy, Bishop Matthew Kukah, stood in and very well so. This committee is by all standards a winner and deserving of commendation, too.

THE LOSERS THE Bola Tinubu

Presidential candidate of the APC, Bola Tinubu, is the number one loser in the Osun election, because the victory would have meant a lot to his presidential bid, especially, coming at a time his preference for a Muslim-Muslim ticket, had become a major national concern and debate.

The defeat was, therefore, a big blow, more so, when he was in the state to campaign vigorously for the APC. To put it succinctly, the loss was a humiliation to Tinubu and no wonder he left Osun hurriedly for Abuja, when he saw the direction things were going, long before the results were announced. Whether or not anyone admits it, the defeat was a set back to his campaign, albeit could be temporary.

Gboyega Oyetola

Outgoing Governor Adegboyega Oyetola, must have been devastated by his loss to a man, he ordinarily

Abdulsalami Abubakar

would have considered less qualified to succeed him.

Although many people believed Oyetola was largely responsible for his own misfortune, because despite having an intel that the election was Adeleke’s to lose and tipped to tidy up loose ends, his campaign was defined by poor planning, chaotic structure, and lack of attention to some of the little things that mattered to his victory.

Not only did members of the different committees set up for the purpose of the election express huge disappointment in the way they were treated; many of them pulled out of their committees in anger. There were complains of the governor being unreachable, compounded by his reluctance to funding key demands of the campaign. They even called him stingy. He lost woefully and should take responsibility for his misfortune.

Ayo Fayose

A rather mercurial former governor of Ekiti State, Ayodele Fayose, had announced his exit from the PDP some weeks ago, over the internal crisis in the party after the presidential primary and pitched tent with the APC and Tinubu.

What that meant was that as a member of the ruling party, regardless of whatever role he played, he shared from the misfortune, given the time he left the PDP, and could also be said to have brought ill-luck to the APC, after extending same to his party in Ekiti, which lost the governorship election over a moth ago. Fayose is a loser, who deserved his plight.

Nyesom Wike

The Rivers State Governor, Nyesom Wike, has remained one unplacatable loser since he was taught rudimentary politics during the PDP presidential primary. His condition was made worse, when the party’s presidential candidate, Atiku Abubakar, didn’t find him a worthy partner. He since became rebellious and refused to campaign

for the party.

He seized every opportunity to not partake in the Osun campaigns, despite being prominently placed as a member of the campaign council.

He had, perhaps, waited to see his party lose and gloat over their misfortune. But he was wrong, the PDP won without him, his money and co-travelers – Okezie Ikpeazu of Abia State and Samuel Ortom of Benue State. They are all class losers.

‘Seyi Makinde

Oyo State Governor, Seyi Makinde, is another loser, who might have further sculpted his own misfortune in regional politics.

The reason Makinde’s case is rather disappointing, if not shameful to many observer, is because as the only PDP governor in the South-West, a lot was expected from him, by way of standing by and rallying round Adeleke. But he was missing at such a critical moment, just to be in solidarity with Wike and co.

Curiously but hypocritically, Makinde was among the first set of people to issue a congratulatory message to Adeleke, when he should have been the one chaperoning him around the zone as his partner. He is a loser, expected to quit his pretence.

The APC Leadership and Governors

This category of losers include the National Chairman of the APC, Senator Abdullahi Adamu; the National Secretary, Iyiola Omisore, who is from the state; Chairman of the Osun Campaign Council, Governor Babajide Sanwo-Olu of Lagos, and the 21 other governors ofthe APC. Adamu had given a very direct charge before the election, urging members of the campaign council, led by Sanwo-Olu to do all that they could do to win the Osun election. But contrary to his wish, they lost at a time, when victory meant everything to them.

Omisore, being an indigene of the state from Ife, did everything humanly possible to assist his party, instead, he suffered humiliation as voters and others booed him, when they suspected he was up to mischief.

Sanwo-Olu’s efforts did not, however, show. Although the Lagos governor was said to have put his all into the campaign, there were other equally engaging demons that dwarfed his efforts.

Over all, the APC lost and dragged all their supporters in the mud.

SEVEN TAKEAWAYS FROM OSUN GUBERNATORIAL ELECTION governor, Gboyega Oyetola.

This is why both the leadership of the Independent National Electoral Commission (INEC), which despite frustrations from certain quarters, stuck to its guns, and President Muhammadu Buhari, who wasted no time in approving it, because it would enhance his resolve to leave behind a legacy of decent electoral culture, are commendable.

Where’re Obi and Kwankwaso?

The Osun election, as critical as it was, being the last off-season exercise before next year’s general election, has exposed the façade of the OBIdient Movement, whose face is the presidential candidate of the Labour Party, Peter Obi, and the much-talked about influence of the strongman of Kano State’s politics, Senator Rabiu Kwankwaso.

While Obi’s Labour Party failed to fly despite fielding a prominent person as its candidate, Hon. Lasun Yusuf, who was at a time a deputy speaker of the House of Representatives, Kwankwaso’s New Nigeria People’s Party (NNPP) was completely not in the equation.

Unfortunately, for these two gladiators, over 3,000 youths in Osun registered for the election, the highest in recent time, yet, those who voted were split mainly between the two big parties – the APC and the PDP. It would appear that the two, especially, Obi is social media tiger with zero ground game. Indeed, they may actually pose no threat in the 2023 elections.

Davido, the Game Changer

Hip-hop mega star, David Adeleke, with the stage-name, Davido, deployed his overwhelming influence and used same to neutralise the opposition for his uncle and winner of the election, Senator Ademola Adeleke.

Davido, many may recall, played similar role in the campaign of his uncle in 2018, when Adeleke gave his first shot at the governorship of the state and lost.

But in the days leading to the Saturday, July 16 election, Davido gave his all, including giving a free show to potential voters, mobilising the youths and coordinating the undecided online, a development many believed greatly impacted the outcome of the election.

Without a doubt, Davido made a huge difference in the victory of his uncle.

Tinubu and Oyetola: Wõn Lu’le

Perhaps, the duo of presidential candidate of the APC, Bola Tinubu and outgoing Governor of Osun State, Gboyega Oyetola, might have fallen at a rather inauspicious time. An election that should have signposted a promising 2023 general election for them became foreboding.

Ordinarily, as the presidential candidate of the ruling party, Tinubu was expected to provide the much-needed coattail for the victory of Oyetola in Osun and by extension, give an indication of the things to come as the nation journeys towards 2023.

But all that failed to give. Instead, they both lu'le in a big way. Question is, was it a sign of potential crisis for the candidate and his party or fatigue has begun to set in for Tinubu? Either way, the outcome of the election was ominous for Tinubu and the APC, lest, they pay attention.

PDP on Rebound?

Perhaps, the election was a clear sign that the opposition PDP was on a rebound, although not yet uhuru. The PDP must have to put its house in order as quickly as possible – assuage frayed nerves and bring everyone together for the challenge ahead.

Suffice it to say that the Adelekes played a major role in the life of the PDP in the state and by implication, the eventual success of their son, Ademola, at the poll. There is, however, no better time for the PDP to do a review and fully get its groove back than now.

The Osun election has shown that 2023 could be anyone’s game and the incumbency factor would be accorded no place whatsoever.

While the election is open to the most hardworking of the parties to take, it goes without saying that the PDP is coming on stronger and better and might as well take its chances.

Religion on Sabbatical

Coming at a time a controversy about the place of religion in the body polity was unceasing, it was shocking to see that religion played no role in the outcome of Saturday’s

governorship election in Osun State.

Although a debate over which faith Ademola Adeleke subscribes to has not been properly exhausted, the general submission is that either as Nurudeen or Jackson, he swings both ways, which makes it easier for him to maintain some sort of balance between the two religions.

That is not to say, however, that Osun could be said to represent Nigeria with all its contradictions and fault lines. It is, nevertheless, exciting to note that religion took the back seat when the fate of Osun was decided at the poll last Saturday.

APC Brand Troubled?

There’s no how the Osun election is analysed and the submission would be kind to the ruling party as it were. The APC, up until Saturday, was the ruling party in both Osun and the federal government and yet, lost the election woefully than it won it in 2018.

Is that some verdict on the government of Oyetola in Osun State and by extension, the government of Muhammadu Buhari? Does it say something about the leadership of the party under the command of Senator Abdulahi Adamu?

Whatever it is and whichever scenario is applicable, there’s an urgent need for the APC to do some introspection and fix things as quickly as possible. Unfortunately, there would be no grounds to re-try its popularity before the general election next year; it can still put in some efforts and hope they turn out well.

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TUESDAY, ͹΁˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

TOUR OF WORK AT MULTIPURPOSE AGENCY BUILDING...

L-R: Lagos State Deputy Governor, Dr. Obafemi Hamzat; Governor, Mr. Babajide Sanwo-Olu and other government officials during an inspection tour of ongoing work at the Multipurpose Agency Building, Alausa...yesterday

Two Nigerian-born American Businessmen Face Jail after Firm’s 'Controversial' $160m Remittances to Nigeria The Founders of Texas-based fintech firm, Ping Express US LLC, Anslem Oshionebo and Opeyemi Odeyale, have pleaded guilty for failing to combat money laundering on their platform.

A statement by the US Department of Justice (DoJ), which was

seen by Business Insider Africa, explained that the businessmen failed to maintain anti-money laundering controls on their platform; a situation that allowed some of their customers to remit large sums of illegally-derived funds to Nigeria.

"The company outlined its anti-

money laundering policy in a memo to state regulators, claiming it would cap first-time customer transactions at $499, cap daily transactions at $3,000, and cap monthly transactions at $4,500. “However, in plea papers, the company admitted it allowed more than 1,500 customers to violate

these rules. In one instance, Ping allowed a customer to remit more than $80,000 in a single month – more than 17 times the purported limit," said a part of the statement.

The DoJ further disclosed that the company was guilty of conducting money transmission services in some

2023: Ogun Former LG Officials Pledge Support for Abiodun Former local government functionaries who served under the administration of the immediate past governor of Ogun State, Senator Ibikunle Amosun, yesterday joined the camp of the incumbent governor, Dapo Abiodun, declaring their readiness to work for victory of the governor during the 2023 poll.

Receiving the former office holders made up of former councilors, secretaries to the local governments, vice chairmen and chairmen at Abeokuta, Abiodun was quoted in a statement to have described them as loyal, dedicated and astute grassroots politicians who, in the past, served the state diligently.

The governor who recalled events

that led to some members of the party going in different directions said, "in 2018, we all went on a journey, but along the way, we did not agree on how to get to our destination and that caused disagreement and division."

"Some of you are paying the price of loyalty to leadership. We don't blame you for the steps you took.

You follow your leaders but having seen that where you were going led to nowhere, you retraced your steps. I hereby receive you fully because your love for the party led to this action," he added While describing the returnees as members of the same big family, the governor urged them to integrate

themselves with the party by going back to their wards, local government areas and join hands with other members to move the party forward.

"Please, go back to your wards, local government and join hands with others by having meetings with them. I am happy that you are joining us at this moment. This administration operates the policy of inclusiveness.

“Our doors, windows and arms remain open to all our members who decide to rejoin the mainstream.

You have come back to your home", Abiodun noted.

The governor, however, called on the members of the APC to accord

the returnees the right of bonafide members, assuring that hard work, loyalty and dedication to the party would be rewarded.

The Ogun State Chairman of the party, Yemi Sanusi, while receiving the former local government functionaries back to the mainstream of the party, said he was glad that they were not forced to return, but did so out of their own volition.

"It is a thing of joy for a father to receive his children back into the fold after disagreement. It is part of the inclusive policy of the governor. I am happy that the aggrieved members decided to come back. Please go to your various wards and join other members," he noted.

Police Arraign Ponzi Scheme Operator, for Allegedly Defrauding Army Colonel, Professor, Others of N1.2bn Wale Igbintade Operatives of the Force Criminal Investigation Department (Force CID), Alagbon, Ikoyi yesterday arraigned before the Federal High Court in Lagos, a Ponzi scheme

operator, Michael Ukiye Diongoli, for allegedly defrauding a retired Army Colonel, two professors and MTN staff co-operative society, among others of the sum of N1.286, 580, 656 billion.

Diongoli was arraigned before

Justice Ambrose Lewis-Allagoa on an 8-count charge of conspiracy, obtained by false pretence, and fraud.

He was arraigned alongside his two firms, UK-Don Group and UK-Dion Investment Limited.

Troops Vanquish Five Terrorists in Benue, Kastina Recover arms Kingsley Nwezeh in Abuja

Defence Headquarters (DHQ) yesterday said troops of Operation Whirl Stroke eliminated five terrorists in Katsina and Benue States.

A statement issued by the Defence Media Operations (DMO) revealed that following credible intelligence, troops conducted a raid operation at Chito general area, Sankera Council Ward in Ukum Local Government Area of Benue State and in the process came in contact with suspected bandits.

It said bandits on sighting the

advancing troops, fired at the direction of the troops.

According to the statement, troops responded with heavy superior fire power and neutralised three bandits while others escaped.

“Troops searched bandits’ hideout and recovered 18 motorcycles used by the bandits to terrorise the general area.

In another encounter, troops of Operation Hadarin Daji in a special operation in the early hours of July 17, 2022, conducted operation at Palale-Jaja village in Jibia Local Government Area of Katsina State and made contact

with terrorists.

“Troops engaged them and neutralised two terrorists. Items recovered includes two AK 47 Rifles, two magazines, 16 rounds of 7.62mm special, six motorcycles, two phones, one clipper, some packets of tramadol drug among other items.

"The military high command commends troops of Operation Whirl Stroke and Operation Hadarin Daji for these feat and encourages the general public to avail troops with more credible information on criminal activities in their areas," it said.

The defendant was accused of defrauding his victims, under false pretence of multiple Returns On Investment (ROI) within the period of six months to one year.

Some of his victims were: Dr. Basil Onugu, Prof. Oneykachi Green Nwankwo, his wife, Elizabeth U. Onyekachi Green, Nnenna Ikubogh, Securities Ltd, Uchenna Nwankwo, Chinyere Oguejiofor, Sekoni A. Adetokunmo, Catholic Charismatic Renewal, Prof. Iloeje Casmir, Lilllan Ofondu, Suliaman Mamman, MTN Employer Cooperative, Gabriel Andrew, Obieme Adaku K., Col. Chukwu Terngu (Rtd) and others.

The prosecutor, Mrs. Ezema Susan, a Chief Superintendent of Police (CSP) while addressing the court stated that the defendants committed the offences between December 2021and April 2022.

The prosecutor informed the court that the offences contravened Sections 8 (a), 1(1) (a) of the Advance Fee Fraud and other Fraud Related to Offences Act, 2006 and Punishable under Section 1 (3) of the same Act. The defendant, denied the allegations and pleaded not guilty to the charges.

US states where it was not licensed to operate.

Within a 3-year period, Ping Express US LLC helped customers to remit a total of $167 million to Africa. Out of this sum, $160 million was remitted to Nigeria. And the company was said to have failed to verify the sources of the funds or what they were intended for.

Interestingly, some of the company's customers have already been tried and found guilty of illegally transmitting funds they earned through romance scams. Two of these three individuals were among the fintech's top customers. One of the customers, Collins Orogun, pleaded guilty and admitted he accepted fees to help romance scam fraudsters to transfer money from the US to Nigeria through Ping Express US LLC.

"In two years, Mr. Orogun received more than $1.3 million in cash, cashier’s checks, and wires into several U.S. bank accounts he controlled, and then quickly moved more than $1 million of the funds to Africa through Ping. He faces up to 20 years in federal prison and is set to be sentenced on Jan. 23, 2023," part of the statement said.

Anslem Oshionebo and Opeyemi Odeyale, who both served as Ping's CEO and COO, have been sentenced to 27 months in prison.

The company's Head of IT and Business Development Manager, Aleoghena Okhumale, also pleaded guilty to knowingly facilitating illegal remittance of fraudulently derived funds.

Meanwhile the fintech company itself is facing a 5-year probation as well as $500,000 fine.

NNPC TRANSITION: GROUP CFO EXPECTED TO INTENSIFY INTERNAL CHECKS, CONTROL in the last 45 years of the national oil company’s existence.

THISDAY findings showed that from the new structure of the NNPC, the Group CFO would have to work closely with the Group Chief Executive Officer (Group CEO) of the company to ensure profitability of the company.

The new NNPC Limited structure which would be launched by President Muhammadu Buhari, is in line with the Petroleum Industry Act (PIA) 2021.

The Corporate Affairs Commission had on September 21, last year completed the incorporation of the NNPC Limited in accordance with the provisions of the PIA 2021.

The PIA was signed into law

by President Muhammadu Buhari on 16th August, 2021, following its passage by the National Assembly in July of the same year.

Specifically, Section 53(1) of the Petroleum Industry Act 2021, requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of the enactment of the PIA in consultation with the Minister of Finance on the nominal shares of the Company.

With the registration by the CAC, the NNPC Limited was floated with an initial capital of N200 billion making history as the company with the highest share capital in the country.

From when the PIA was signed into law last year, the management of the NNPC has taken proactive steps to prepare it for the July 1

take-off as a CAMA company.

However, while the structure of the senior management team of the NNPC Limited would change with its new status, its Board would remain as inaugurated by Buhari.

But the Group CFO position is the next key important position in any CAMA company and the Group CEO and Group CFO must work together to ensure not only the success of the company, but the sustenance of adequate internal checks and controls.

Furthermore, the Group CFO would entail additional responsibility of not only ensuring the liquidity of the group, but efficient allocation of capital to businesses based on rate of return and business or project priorities.

The Board committees had long been set up and in place consistent with Nigeria’s Code of Corporate Governance.

“The new structure will ensure an optimal structure that enables agility and ability to reward performance appropriately,” a top official of the NNPC who pleaded to remain anonymous said.

Group Managing Director of the NNPC Ltd, Mr. Mele Kyari, recently explained: “On 1st of July, we crossed over to the NNPC Limited both technically and financially on every aspect. Not only that, on the 19th of July, I’m inviting all of you to be present. Mr. president will unveil the NNPC Limited to all of us on the 19th of July, and I’m inviting you.

Continued on Page 27

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POLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY)

Take Away from Osun Governorship Poll Yinka Kolawole highlights some take away from the just concluded gubernatorial election in Osun State

Adeleke

L

ast Saturday’s governorship election in Osun state conducted by the Independent National Electoral Commission (INEC) had lots of preparation put in place for the conduct of a credible, free, fair and conclusive exercise.

The election which was a straight battle between the candidate of the All Progressives Congress (APC) and incumbent Governor,Alhaji Adegboyega Oyetola and Senator Ademola Adeleke of the Peoples Democratic Party (PDP) started with voters education by the commission on how the electorates would go about their legitimate right before, during and after the election process.

INEC did not stop at that, it also held stakeholders meeting with all political players as to conduct themselves well in the political activities. Infact before the election, the electoral body organised series of meetings with traditional rulers, religious leaders, media practitioners, security agencies, ad-hoc staff member of NYSC, as well as electorates as to let them know what to do and what not to do before, during and after the election.

They were made to go through electoral needs for the election to be peaceful and acceptable in all ramifications. INEC made all stakeholders realize that the ideas of Vote buying should be discouraged in all forms. It also urged voters to collect their PVC to enable them to vote in their respective polling units.

On the election day, security was beefed up with the involvement of police, Army, NSCDC, Immigration officers, who were all civil in their conduct. Civil societies were also not left out in building good relationship with INEC so as to ensure credible, free, transparent as well as conclusive election.

YIAGA AFRICA Yiaga Africa employed the Parallel Vote Tabulation (PVT) methodology and deployed 500 observers in pairs to a representative random sample of 250 polling units, 32 mobile observers in all 30 local government areas (LGAs) and 30 LGA results collation observers. This deployment strategy enabled Yiaga Africa to provide timely and accurate information on the election day process commencing from the set-up, voter accreditation, voting, and counting and to independently verify the official results for the Osun gubernatorial election as announced by the Independent National Electoral Commission (INEC). The process and results verification statement is based on reports from 247 to 250 (98%) sampled polling units in Osun State.

Yiaga Africa commended INEC for the significant improvement in logistics management for the Osun 2022 governorship election.

The personnel and essential materials, such as the Voter Register, BVAS, voting cubicles and ballot boxes, were deployed early in most of the polling units.

The CSO condemned the cases of violence and disruption of the voting and results collation process by thugs and hoodlums, especially the

Oyetola

violence targeted at NYSC members and INEC staff. Although these cases are isolated, they undermine Nigeria’s electoral reform project.

Yiaga Africa had noted in its pre-election observation statements that the Osun Governorship election will be keenly contested and largely determined by swing LGAs and a small margin in the difference of votes between the top contesting parties. It commended the people of Osun for largely conducting themselves peacefully through the election day voting and counting process. Yiaga Africa also commended INEC and the security agencies for ensuring the voters in Osun exercised their franchise in a transparent and secure environment.

Key Findings on Election Day Process Yiaga Africa’s WTV observers monitored accreditation, voting and counting at polling units in all 30 LGAs. It received and confirmed 29 critical incidents. The following are key observations on election day processes.

Set up and Opening of Polls: Yiaga Africa WTV observed the early arrival of polling officials and materials at polling units across the State. As of 7:30 am, Yiaga Africa WTV observers reported that INEC officials had arrived at 78% of polling units. By 8:30 am, 41% of polling units had commenced accreditation and voting. By 9:00 am 89% of polling units had commenced accreditation and voting.

This, however, increased to 96% by 9:30 am. This is consistent with Yiaga Africa’s observation findings in the 2018 elections, where 91% of polling units opened by 9:00 am.

Deployment of the Bimodal

Voter Accreditation System (BVAS) Yiaga Africa observed the deployment of the BVAS across the polling units visited. At 23% of polling units, Yiaga Africa observed the deployment of 2 BVAS devices per polling unit.

Most of these polling units where 2 BVAS were present had more than 750 registered voters.

In 92% of polling units, the BVAS functioned properly. However, in 7% of polling units, the BVAS malfunctioned, and it was fixed and in 1% of the polling units, it malfunctioned and was replaced.

Deployment of INEC Officials, Security Agents and Party Agents Deployment of polling officials and women representation: 93% of polling units had more than three polling officials present, and 61% of polling units had at least two female polling officials present while 45% of the presiding officers were women.

Deployment of Party Agents: The Party agents of the All Progressives Congress (APC) and the Peoples Democratic Party (PDP) were seen at 99% of polling units.

Deployment of security personnel: Security forces were observed at 98% of polling units. In 97% of the polling units, they were professional and non-partisan.

Access to Polling Units, Secrecy of the Ballots and Results Transmission Access to polling units: In 28% of polling units, individuals had to climb steps to access polling units, which made it difficult for persons with disability.

Upholding the Secrecy of Ballots and Attempts to Influence Polling Officials. 93% of polling units were set up so no one could see how the voters marked their ballot papers. Nevertheless, in 7% of polling units, it was possible to see how a voter’s ballot paper was marked when it was put in the ballot box at some point throughout the day. Voters crowded the polling officials in 21% of polling units. In 37% of polling units, party agents were seen within two meters of the voting cubicle of the ballot box. In 19% of polling units, party agents attempted to influence voters and polling officials.

Polling Units Level Results Transmission : In 83% of polling units, the presiding officers used the BVAS to scan/take a snapshot of the results sheet (Form EC 8A). In 71% of poll-

I commend men and women of goodwill, the young and the old. I am overwhelmed by your love and support. Our state has turned a new page. We have launched a landmark path for progress and prosperity of our people. It is therefore with strong faith in God and trust in our people that I accept my election as the Governor of Osun state. I pledge my total commitment to the best interest of the state and her people

ing units, the presiding officer attempted to transmit/send the result image to the INEC’s online database (IReV) Critical Incidents Reports Yiaga Africa received and confirmed 29 critical incident reports from its WTV observers. The incident reports capture instances of infractions that could undermine the electoral process.

These included: Voter Inducement/Bribery: Yiaga Africa received reports of acts of vote buying perpetrated by agents of the APC and PDP in some polling units. For instance, PU 009, Akinlalu Commercial Grammar School, Ward 01 in Ife North. The party agents strategically positioned themselves by the voting cubicle to see how voters marked their ballots. In PU 003 Opp. At Olomu Mosque in Osogbo, PDP party agents were seen handing out between N2000 and N5000 to induce voters. Also, in Disu Polling Unit 003, ward 7 in Orolu LGA, APC agents were seen distributing N4000 to voters who voted for the party while PDP party agents were seen distributing N2000 to induce voters Secrecy of the Ballots compromised: In Ward 11, Unit 3, Palace Town Hall (old post office Iree) in Boripe, Yiaga Africa observed voters showing how they mark their ballot papers to APC party agents before dropping them in the ballot box.

BVAS Malfunctioned: In Ife North LGA, PU 001 at St. Raphael Primary School Toro, the BVAS malfunctioned at about 11 am. A request was made for a replacement which came at 3:30pm.

Voter Intimidation: At Open Space-Under Tree, Ojude Oke, PU 010, Iragbiji Ward 4, Boripe LGA, thugs associated with the APC threatened to stab any voter who did not vote for the APC. The voters however insisted on casting their votes for the candidate of their choice. Yiaga Africa also received a report from Ogbagba Village, Ward 11, Pu 013 of a thug/cultist affiliated with the PDP coming to disrupt the process.

Also, in Alagbede Compound beside Baptist Pry. School, Ward 05, Unit 007, part agents from APC & PDP were seen intimidating the elderly who were at the polling units to cast their vote.

Interference by Party Agent: At Afaake Town Hall. PU 003 during voting an APC party agent was seen close to the ballot box folding the ballot papers of some voters after they were done thumbprinting their choice.

Turnout and the Results Projection Yiaga Africa’s preliminary estimates indicated that turnout for the Osun gubernatorial election will be between 40.0% and 43.0% based on official turnout figures collected from the PVT’s representative statistical sample of polling units across the 30 LGAs in the state. As such, Yiaga Africa can verify that INEC’s official turnout of 42.09% falls within WTV’s estimated range and accurately reflects the turnout of voters.

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

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TUESDAY, JULY 19, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Sri Lanka Declares State of Emergency Ahead of Choosing New President Sri Lanka’s acting president Ranil Wickremesinghe has declared a state of emergency two days before lawmakers meet to choose a new president for the island nation battling an economic crisis and mired in political uncertainty.

An official announcement late Sunday said that the emergency is being imposed “in the interest of public security, the protection of public order and the maintenance of supplies and services essential to the life of the community.”

Wickremesinghe was sworn in as acting president following the resignation of Gotabaya Rajapaksa on Thursday.

A nationwide emergency was also imposed last week after demonstrators stormed the prime minister’s office. It was the third key government building they overran during a tumultuous week that led to the ouster of former President Gotabaya Rajapaksa.

But the fresh announcement caused surprise -Colombo has been calm since the protestors vacated the buildings saying they want their struggle to remain peaceful.

“A state of emergency should be declared when the country faces a genuine threat. At the moment, while there is political uncertainty, I don’t see the reason for an emergency,” said Bhavani Fonseka, senior researcher at the Center of Policy Alternatives in Colombo. “So, there are real concerns as to why it has been imposed.”

Security had already been stepped up in the capital ahead of the vote for the president that is scheduled to take place Wednesday after nominations are made in parliament Tuesday.

Russia Kills 6 More Civilians in Attack on Toretsk Shelter State emergency officials said six more Ukrainian civilians were killed Monday when Russia shelled a two-story shelter in the eastern town of Toretsk.

The State Emergency Service said on Facebook that rescuers found five bodies in the rubble and pulled three people out alive, but one later died in a hospital.

“The town of Toretsk was under fire today from early this morning. A two-story building sheltering people was destroyed as a shell slammed into it,” the statement said. A photograph showed rescuers digging through the rubble, but the emergency service said the search for survivors had been abandoned.

Russia has denied targeting civilians but bombarded numerous non-military sites in its nearly five-month onslaught, killing hundreds of people.

On the diplomatic front, European Union foreign policy chief Josep Borrell said Monday he hopes there will be an agreement this week for Russia to end its blockade of Ukrainian ports in Odesa and elsewhere, with the lives of tens of thousands of people depending on such a deal amid food shortages in many countries.

Speaking to reporters in Brussels, Borrell said Russia has to allow Ukrainian grain exports or else the international community will have to say Russia is “using food as a weapon without any consideration for human beings’ lives.”

Report: Thai Democracy Activists Targeted by Pegasus Spyware According to an international digital rights group report, dozens of Thai democracy activists were targeted by the controversial Israeli spyware known as Pegasus during the height of intense anti-government protests.

Massive demonstrations engulfed Thailand’s capital Bangkok two years ago as thousands called for greater civil freedoms and a loosening of the strict lese-majeste laws that prevent any criticism of the monarchy.

The report by Canadian cybersecurity watchdog Citizen Lab in partnership with Thai groups iLaw and DigitalReach identified some 30 activists, academics, lawyers and NGO workers – mostly connected to civil rights organisations – whose mobile devices were affected.

“The infections occurred from October 2020 to November 2021, coinciding with a period of widespread pro-democracy protests and predominantly targeted key figures in the pro-democracy movement,” the report stated.

Created by Israeli firm NSO Group, Pegasus software can extract data and activate cameras or

microphones once it has successfully infiltrated a mobile device.

The report stops short of saying definitively who was behind the use of the spyware, though it notes that NSO Group says they only sell the technology to governments.

In its own executive summary of the findings, the Thai NGO iLaw said: “It can be circumstantially concluded that the use of Pegasus against dissidents would be of significant benefit to the Thai government.”

Among those targeted, Citizen Lab said, were the lese majeste lawyer Arnon Nampa, protest leader Panusaya Sithijirawattanakul and activist Jatupat Boonpattararaksa.

Japan, South Korea Agree to Improve Ties The foreign ministers of South Korea and Japan reaffirmed Monday the importance of bilateral ties and the three-way relationship with the United States as they renewed efforts to mend relations amid the war in Ukraine and other global tensions.

Park Jin, South Korea’s top diplomat, and his Japanese counterpart Yoshimasa Hayashi agreed to work together on the nuclear threat from North Korea and on the need to resolve a dispute over Japan’s colonial-era forced mobilisation of Korean labourers, according to the two foreign ministries.

The countries’ ties have been strained mostly over historical issues, including forced labour leading up to and during World War II. South Korean court rulings in 2018 ordered two Japanese companies, Nippon Steel and Mitsubishi Heavy Industries, to compensate forced Korean labourers at the heart of the dispute.

The Japanese companies have refused to comply with the rulings, and the former labourers and their supporters responded by pushing for the forced sale of corporate assets of Nippon Steel and Mitsubishi.

The ministers shared a view that the disputes over the forced labourers must be resolved at an early date, the South Korean Foreign Ministry statement said.

Extreme Heat Overwhelms UK, Disrupts Schools, Travels Millions of people in Britain stayed home or sought shade Monday during the country’s firstever extreme heat warning, as hot, dry weather that has scorched mainland Europe for the past week moved north, disrupting travel, health care and schools.

The red heat alert covers a big chunk of England and is due to last through Tuesday, when temperatures may reach 40 degrees Celsius (104 degrees Fahrenheit) for the first time, posing a risk of serious illness and even death among healthy people, according to the Met Office, Britain’s weather service.

Britain’s highest temperature ever recorded is 38.7 C (101.7 F), a record set in 2019. The country is unprepared to handle such heat — most homes, schools and small businesses in Britain do not have air-conditioning.

London’s Kew Gardens hit 37.5 C (99.5 F) by 3:00 p.m., and Wales provisionally recorded its highest-ever temperature, the Met Office said, a recording of 35.3 C (95.5 F) at Gogerddan on the west coast.

At least four people were reported to have drowned across the UK in rivers, lakes and reservoirs while trying to cool off.

Hot weather has gripped southern Europe since last week, triggering wildfires in Spain, Portugal and France. Almost 600 heat-related deaths have been reported in Spain and Portugal, where temperatures reached 47 C (117 F) last week.

Report: Eritrean Refugees Relocated from Addis Ababa to Dangerous Area Aid group Refugees International has expressed concern about the reported relocation of more than 100 Eritrean refugees from areas near Addis Ababa to camps on the unstable border between Ethiopia’s Amhara and Tigray regions.

Ethiopian authorities are accused of targeting Eritrean refugees by arresting them in the capital and sending them back to the country’s restive north.

Abdullahi Halakhe is the Refugees International senior advocate for East and Southern Africa.

“For the last few days, Eritrean refugees who have been living in Ethiopia for some time now and so the government rounded up these refugees who are in Addis Ababa and (put them) in several buses and took them back to Amhara region.

The Amhara region and the Tigray region border each other, and there is tension,” said Halakhe.

Amhara and Tigrayan forces have been fighting over land and other long-standing disputes.

About 20,000 Eritrean refugees lived in two refugee camps in the Tigray region before the war between Ethiopia’s government and Tigrayan rebels broke out in November 2020.

After Eritrean and Tigrayan forces allegedly attacked the camps, many refugees fled to the Amhara and Afar regions, with others moving to the capital Addis Ababa.

Prince Harry Pays Tribute to Mandela at UN Prince Harry told a United Nations commemoration on Nelson Mandela’s birthday Monday that despite having suffered many injustices in his life, the South African leader always managed to find the light.

“A man who had endured the worst of humanity – vicious racism and state-sponsored brutality. A man who had lost 27 years with his children and family that he would never get back,” Prince Harry, the Duke of Sussex, told the

General Assembly, referring to the years Mandela spent in jail for fighting apartheid.

Yet, in a photo with his mother, the late Diana, Princess of Wales, taken with Mandela in 1997, he said the leader is broadly smiling.

“Still able to see the goodness in humanity, still buoyant of the beautiful spirit that lifted everyone around him,” he said. “Not because he was blind to the ugliness, the injustices of world.

No, he saw them clearly. He had lived them. But because he knew we could overcome them.”

The Queen’s grandson, who left the family fold not long after his marriage to Meghan Markle and now lives in California, was the keynote speaker at the annual commemoration of Mandela that takes place on his birthday. Markle accompanied him to the UN event.

Plane Crash-Lands at Somalia Airport; All 36 on Board Survive Somali authorities say an aircraft carrying 36 passengers and crew crashed at Mogadishu airport Monday, but all on board survived.

The Jubba Airways plane was carrying civilian passengers from the southwestern city of Baidoa when it crashed-landed at Mogadishu’s Adan Adde International Airport on Monday.

Ahmed Moalim, Somalia’s civil aviation director, who spoke to VOA by phone, said the plane crashed around 11:00 a.m. local time while landing at the airport.

According to eyewitnesses, the plane touched down before reaching the runway and flipped over, coming to a halt in an upside-down position.

Witnesses told VOA that the plane caught fire, with firefighters rushing to put out the flames.

Despite the crash and the fire, Moalim said that of the 36 people on board, only three sustained minor injuries.

Lebanon LGBTQ Community Suffers Setback Amid Wider Clampdown Nour never felt entirely safe as a queer person in Lebanon. But in the past few years, the 25-year-old pharmacist had begun letting his guard down, meeting with friends in LGBTQ-friendly spaces in Beirut and even performing in drag shows.

He now opts to stay at home, fearing for his safety more than ever after a wave of anti-LGBTQ hate speech that followed last month’s decision by the Lebanese Interior Ministry to shut down any events aimed at promoting “sexual perversion.”

The setback is part of a broader clampdown on marginalised groups and freedoms that activists say aims to distract the public from Lebanon’s spiralling economic and financial crisis, which has pulled over three-quarters of the population into poverty.

Millions in the once middle-income country continue to struggle with soaring inflation, rampant power cuts, and medicine shortages, while tens of thousands have left the country searching for opportunities abroad.

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See page 20 DIESEL PRICE HIKE AND BURDEN OF FACILITY MANAGERS The high cost of diesel is crippling businesses and making living a nightmare, writes CHARLES JOSEPH See page 20 KASHIM SHETTIMA’S TILT AT WINDMILLS KENE OBIEZU trades words with the APC presidential running mate on his diatribe against Peter Obi See page 21 LASTMA: 22 YEARS AFTER Officials of the agency must discharge their duties with a high level of civility and professionalism, urges KAYODE SOLOMON OJEWALE See page 21

EDITORIAL THE MENACE OF BABY FACTORIES

See page 22

& RE A S O

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opinion@thisdaylive.com

www.thisdaylive.com

NIGERIA’S INFLATIONARY PRESSURES TIMI OLUBIYI examines the growing threat of substitutes and second-hand goods

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Besides local issues, the unhappy Nigerian voter spoke in Osun last week, contends PAUL NWABUIKWU

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The Nigerian voter unhappy with APC’s record of economic incompetence, burgeoning insecurity, political division and the massive mismanagement of the nation’s diversity at so many levels is the main mountain on APC’s path

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2 20

T H I S D AY

TUESDAY JULY 19, 2022

The high cost of diesel is crippling businesses and making living a nightmare, writes CHARLES JOSEPH TIMI OLUBIYI examines the growing threat of substitutes and second-hand goods

NIGERIA’S INFLATIONARY PRESSURES The Coronavirus (COVID-19) pandemic, as well as the economic turbulence, have KDG VLJQLÀFDQW LPSDFWV RQ EXVLQHVVHV manufacturers and households, including individual lifestyle and well-being in recent times. The direct consequence of these impacts has been a very large increase LQ LQÁDWLRQ QXPEHUV LQ WKH FRXQWU\ DQG LW is currently having serious implications.

Globally, no country is immune to LQÁDWLRQ $URXQG WKH ZRUOG LQÁDWLRQDU\ pressure has been experienced in the USA, the UK, and many other developed and developing nations. But in Nigeria, the SHFXOLDULW\ LV WKDW LQÁDWLRQ KDV EHHQ JHWWLQJ higher steadily for the last two years.

Nigeria is one of the countries where LQÁDWLRQ KDV JURZQ WKH IDVWHVW DQG LW has been a concern for many businesses, and the government due to its severe impact post -COVID-19. Lately, we have witnessed continued and unexplainable increases in the price of practically every known item and service across the country. The troubling trend is that most of these basic and essential necessities are increasingly out of reach for the majority of people. Indicating that the country’s cost of living has risen at an alarming rate. That is, the rise in household spending required to maintain a consistent and decent quality of life has been a source of anxiety for many.

The National Bureau of Statistics (NBS) VD\V 1LJHULD·V KHDGOLQH LQÁDWLRQ UDWH increased to 18.24 percent on a year-onyear basis as at June 2022. The percentage FKDQJH LV WKH KLJKHVW LQ WKH ODVW ÀYH \HDUV according to the records. :LWKRXW D GRXEW WKH IRRG LQÁDWLRQ trend over the last two years has been overwhelming. The proportion of the majority’s income that is spent on food has remained ridiculously high. The persistent ULVH LQ LQÁDWLRQ UHVXOWV LQ D GHFOLQH LQ WKH buying power of Nigerians, who are therefore getting poorer. Because they will EH IRUFHG WR SULRULWLVH VLJQLÀFDQW VSHQGLQJ DQG WKH DͿRUGDELOLW\ RI HVVHQWLDOV ZLOO continue to decrease. The consequences of KLJK LQÁDWLRQ DUH D VSLNH LQ XQHPSOR\PHQW numbers, a rise in poverty rates, declining savings, a high number of jobless youths, crimes, and unrest.

So, with this trend, the author has noticed a spike and sharp rise in the demand for substituted products and services by the majority of the citizenry in WKH FRXQWU\ 7KH VXEVWLWXWLRQ HͿHFW XVXDOO\ happens when consumers replace very expensive items with cheaper ones due WR SULFH FKDQJHV RU ZKHQ WKHLU ÀQDQFLDO conditions regress, and vice-versa.

However, the point is about the decline LQ SXUFKDVLQJ SRZHU GXH WR LQÁDWLRQ DQG its attendant consequences. The cost of purchasing products and services required to maintain a given quality of life continues to be a major worry for many families and individuals in the country. According to WKH VXEVWLWXWLRQ HͿHFW SHRSOH VZLWFK IURP more expensive products and services to less expensive alternatives when prices rise or income declines.

For the majority of businesses, the SHUVLVWHQW LQÁDWLRQ LQ WKH FRXQWU\ KDV PDGH the high cost of running and maintaining independently generated power unbearable, particularly the cost of diesel.

This has resulted in a high cost of running businesses. However, this cost is passed on to the consumers without notice. When WKLV FRVW LV SDVVHG DQG FRQVXPHUV ÀQG it intolerable, then a change in demand by switching to substitute products and services prevails. The propensity for this trend is high and it has been the order of the day. Substitute products or goods are alternative goods that could be used for the same purpose.

7KHUHIRUH LQ WKH SUHVHQFH RI LQÁDWLRQ substituting means that consumers seek out alternatives that are frequently low in price, most of the time low in quality, inferior, and largely unregulated. The demand for substitutes continues to rise, because the masses need to survive at all cost, so who has the blame? The consumers or the businesses? So long as the price of goods and products continues to increase, demand for their substitutes will continue to rise. Consequently, business operators need to be aware of this. For instance, numerous salary earners have been forced to reduce the quality of the food they purchase, and business owners continue to replace family food basket staples with DQ\ DͿRUGDEOH DOWHUQDWLYH 0HDQZKLOH the expenses of transportation, school fees, electricity, cooking gas, and rent are equally on the rise, adding to the burden.

From a business perspective, substitute products create rivalry, loss of revenue, weak sales, loss of potential customers or consumers, low or no patronage, and threats to business survival. The main absurdity is that businesses cannot even identify the providers of these alternatives, because they remain largely in the dark.

For instance, canned and jarred Sardine Titus is expensive, but Sardine Estus an DOWHUQDWLYH LV DYDLODEOH DQG DͿRUGDEOH EXW the producers are faceless and unknown.

Many of such competitors are available in the Nigerian market with a huge market share and competitive pressure. However, the quality of these readily available cheap DOWHUQDWLYHV LV VLJQLÀFDQWO\ FRPSURPLVHG and market leading companies and SURGXFWV FRXOG HYHQ VXͿHU EXVLQHVV continuity issues if the lower-priced alternative continues to gain market share and interest of the masses.

As a response, it is a time for businesses to re-strategise, engage in high marketing and promotional campaigns, innovate in line with customer expectations and patronage-improving products, and lower prices. Again, businesses can review their pricing model at this time to accommodate consumers and customers with waning purchasing power. It is also important for the government to play a bigger role in regulating substandard, inferior, and bad products, especially those that are dumped on the Nigerian market. Right now, it’s important to look at and understand KRZ VXEVWLWXWLRQ FDQ DͿHFW WKH HFRQRP\ businesses, and environment in order to stop high death rates and illnesses.

Olubiyi, an Entrepreneurship & Business Management expert with a Ph.D. in Business Administration can be reached on the Twitter handle @drtimiolubiyi and via email: drtimiolubiyi@gmail.com

DIESEL PRICE HIKE AND BURDEN OF FACILITY MANAGERS As the excruciating pains of higher Automotive Gas Oil (Diesel) prices bite harder on Nigerians, it has been a tale of lamentation from business owners. Diesel prices skyrocketed from about N260 per litre in 2021 to over N850 in some parts of Nigeria.

Analysts have attributed the current surge in diesel prices to the rise in the price of crude oil in the international market due to the RussiaUkraine crisis. Russia is an oil-producing FRXQWU\ ZKLOH UHÀQHG SHWUROHXP SURGXFWV come from Ukraine and other Western European countries. This has undoubtedly impacted the price of petroleum products in Nigeria. The invasion of Ukraine by Russia has GLVWRUWHG JOREDO ÀQDQFLDO DQG HQHUJ\ PDUNHWV causing oil prices to soar above $100 per barrel, the highest since 2014.

While these factors are not particular to Nigeria, other factors like a reduction in GLHVHO VXSSO\ E\ JOREDO UHÀQHUV WR 1LJHULD LQÁDWLRQ DQG OLPLWHG DFFHVV WR ); E\ GLHVHO marketers work together to make the situation particularly dire for the average Nigerian.

The situation has been exacerbated by the epileptic power supply, which has increased the demand for the product as industries, businesses, and households would need to power their generators. Unfortunately, given the epileptic nature of the national grid, Nigerians have a hard choice of reducing our diesel demand or keeping demand and paying the high price in the face of supply shortages.

The commodity has become gold because virtually all the big generators that can take estates, factories, companies, etc., are powered by diesel. $ VXUYH\ FRQGXFWHG DPRQJ 1LJHULDQ ÀUPV

by Leadership Newspaper last month revealed that many businesses in Nigeria are struggling for survival. At the same time, some have suspended operations due to surging diesel prices.

Following epileptic power supply in the country, most businesses, including large ones and MSMEs, resort to generators, especially diesel-type, to run their operations. For example, some Lagos-based have switched to using fuel-powered generators during the daytime to reduce the cost of operations.

Others stuck with diesel generators have LQFUHDVHG WKHLU VHUYLFH FKDUJHV WR VWD\ DÁRDW In the transportation sector, transport companies are converting diesel engine buses to gas as a way out of the exponential increase in diesel prices. Just recently, the Lagos State Governor, Babajide Sanwo-Olu, authorised the Lagos Metropolitan Area Transport Authority (LAMATA) to convert the current diesel buses in operation in the state’s mass transportation schemes to those of Compressed Natural Gas (CNG).

By the same token, radio stations that used to broadcast for 24 hours have had to reduce the hours they operate.

Governments are not immune from the impact of the high cost of diesel. Recently, the Lagos State Government approved the increase in fares for all Bus Rapid Transit (BRT) and standard routes. Kolawole Ojelabi, Assistant Director, Corporate Communication, Lagos Metropolitan Area Transport Authority (LAMATA), attributed the development to the rising cost of diesel.

“The exponential increase in the pump price of diesel from N187 to N830/litre between August 2020 and June 2022 had JUHDWO\ DͿHFWHG WKH RSWLPDO SHUIRUPDQFH RI the bus operating companies leading to the

withdrawal of buses from operation and longer waiting time at bus stations,” he had said.

The development has undoubtedly put unprecedented stress on the economy, threatening its ability to produce goods and services. Painting a grim picture of what businesses are going through due to a hike in diesel prices, Bright Echefu, Managing Director, TStv Africa PayTV,

said its operations were hampered by the unavailability of power and the high cost of running on generators to serve its customers. According to him, there were months that the organisation relied solely on generators to run its operations.

Hear him: “At TStv headquarters in Idu, Abuja, we consume 45,000 litres of diesel every month... For most of 2021, we spent between N12m and N14m monthly on diesel. Last December 2021, it rose to N14.8m. Abuja Electricity Distribution Company (AEDC) takes an average of N3m to N4m monthly. So in a month, we incur between N15m to N17m on power.

This is outside generator servicing.

“In January 2022, the N17m monthly rose to N24m. I cried. This March 2022, I am pained that diesel for TSTV headquarters has climbed to N36m for the same 45,000 litres we bought in October 2021. From January 2021 to December 2021, TSTV spent N232m on diesel purchases alone.

If you are looking for why Nigeria is ranked 131 among 190 economies in the latest World Bank Ease of Doing Business annual ratings, look no further.

As producers and consumers bear the brunt of the astronomical diesel increase, local manufacturers, the hospitality LQGXVWU\ VHUYLFH ÀUPV DQG UHDO HVWDWH operators, especially those in the servicedapartments sector, are at the receiving end as the situation is causing friction between facility managers and residents. The recent protest by occupants of Ocean Bay Estate, Lekki Lagos, where the Residents Association accused the developer of abandoning them and being ‘insensitive’ by increasing service charges, readily comes to mind.

Some companies are already seeking alternatives to diesel. One of such innovative ways is the gas-powered Independent Power Project (IPP) by Octo5 Holdings Limited at its Ocean Bay Estate in Lagos.

Joseph writes from Lagos

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T H I S D AY TUESDAY JULY 19, 2022

Officials of the agency must discharge their duties with a high level of civility and professionalism, urges Kayode Solomon Ojewale

KENE OBIEZU trades words with the APC presidential running mate on his diatribe against Peter Obi

LASTMA: 22 YEARS AFTER

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22 4

T H I S D AY

TUESDAY JULY 19, 2022

EDITORIAL

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

THE MENACE OF BABY FACTORIES The illicit trade in babies by unscrupulous people is becoming a menace to our society

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confronting the association and Nigerian orphans. We he Delta State Police Command last week hope to bring orphanages across the country together arrested two male suspects and rescued to network and exchange information and ideas that three pregnant women from a ‘baby will provide a way forward to the many challenges factory’. It is the latest in what has become a WKDW DERXQG µ $62+21 KDG SOHGJHG EXW QRW PXFK VFDQGDORXV EXVLQHVV LQ KXPDQ WUD΀FNLQJ seems to have changed. and associated crimes in Nigeria. In We enjoin the authorities and relevant stakeholders several locations across the country today, mostly in to tackle this social menace. Since there is little the South, impregnated girls are held captive until information in the public domain to ascertain they give birth and compelled to give up their babies ZKHWKHU DQ\ RI WKH SDVW RͿHQGHUV ZDV HYHU EURXJKW for varying sums of money per head, depending on to justice, one of the options being recommended is the sex. This illicit trade is part of an international ring diligent prosecution of operators of illegal homes and LQ KXPDQ VODYHU\ DQG RUJDQ WUD΀FNLQJ IRU ZKLFK RXU orphanages. That would serve as deterrent to those country is becoming increasingly notorious. engaged in the nefarious Unfortunately, the trade.

Communities, crime is thriving among individuals and other As the adoption fad assumes a new level of popularity in Nigeria some desperate persons stakeholders could assist by who have come to with the number of potential adopters far exceeding what the informing security agencies regard it as a business. of the growing menace in Members of these legal orphanages could offer, there has been an equal rise in the their neighbourhoods. syndicates also scout for We must stress, however, young and impoverished mushrooming of all manner of motherless babies’ homes that there are many females with unwanted childless couples who have pregnancies to lure them T H I S D AY had, or wish to have, their own babies through the to many of the so-called homes and orphanages where EDITOR SHAKA MOMODU QRUPDO SURFHVV RI DGRSWLRQ DV DOORZHG E\ ODZ $QG they are kept until they are delivered of their babies DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA there are genuine orphanages doing wonderful work which they then buy. In some cases, young men are MANAGING DIRECTOR ENIOLA BELLO for the society in this regard. However, as the adoption DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU brought into the homes to impregnate these girls CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI fad assumes a new level of popularity in Nigeria for fees. By the code of this organised crime, young EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN with the number of potential adopters far exceeding girls are deliberately impregnated for the purpose MANAGING EDITOR BOLAJI ADEBIYI ZKDW WKH OHJDO RUSKDQDJHV FRXOG RͿHU WKHUH KDV EHHQ of producing children that will be taken away from THE OMBUDSMAN KAYODE KOMOLAFE an equal rise in the mushrooming of all manner of them. These children are then traded almost like motherless babies’ homes. In the process, we now commodities. have orphanages, which in a desperate quest for quick ,QGHHG WKH 8QLWHG 1DWLRQV UDQNV FKLOG WUD΀FNLQJ DV T H I S D AY N E W S PA P E R S L I M I T E D money, sell babies, even to known ritualists.

WKH WKLUG PRVW FRPPRQ FULPH LQ 1LJHULD DIWHU ÀQDQFLDO EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA That is why we call on the relevant authorities IUDXG DQG GUXJ WUD΀FNLQJ $W OHDVW EDELHV DUH VROG GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, especially the social welfare departments and ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI each day in Nigeria, according to the UN that has put DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, PLQLVWULHV RI :RPHQ $ͿDLUV DV ZHOO DV WKH 1$37,3 WKH ZRUWK RI WKH JOREDO FKLOG WUD΀FNLQJ EXVLQHVV DW ANTHONY OGEDENGBE the security agencies and the civil society groups to 86 ELOOLRQ DQQXDOO\ 7KH $VVRFLDWLRQ RI 2USKDQDJHV DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI VWHS XS WKHLU VXSHUYLVRU\ DQG PRQLWRULQJ HͿRUWV RQ DQG +RPHV 2SHUDWRUV LQ 1LJHULD $62+21 RQFH SNR. ASSOCIATE DIRECTOR ERIC OJEH these orphanages. The approving authorities should made a commitment to help in combating the ASSOCIATE DIRECTOR PATRICK EIMIUHI equally raise the standard and ensure that certain CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI growing menace of illegal orphanages and homes in DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO minimal conditions are met by would-be operators of 1LJHULD ´2XU JRDO LV WR FKDUW D FRXUVH IRU RXU LQGXVWU\ TO SEND EMAIL: first name.surname@thisdaylive.com orphanages. and brainstorm on actionable solutions to problems

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

LETTERS

APATHY OF VOLUNTARY BLOOD DONORS IN NIGERIA (YHU\ \HDU -XQH WK LV JOREDOO\ UHFRJQLVHG DV :RUOG %ORRG Donor Day, to highlight the importance of blood donation in medical care and appreciate voluntary non-paid donors for WKHLU VHOÁHVV JLIWV 7KLV \HDU·V WKHPH IURP WKH 1DWLRQDO %ORRG 7UDQVIXVLRQ 6HUYLFH 1%76 LV ´'RQDWLQJ EORRG LV DQ DFW RI VROLdarity” in recognition of how blood donation remains an altruistic gesture of kindness from one person to another.

Blood cannot be manufactured in a lab. There are currently no medical alternatives to blood donations for patients in need.

These include women in labour, neonates, surgeries, diseases like sickle cell anaemia, cancer and leukaemia. Most urgently, blood is required for accidents and emergencies as witnessed IROORZLQJ WKH UHFHQW WHUURULVW DWWDFN LQ 2ZR 2QGR 6WDWH ZKHUH dozens of blood donors were needed to help victims.

Despite its importance to sustaining life, Nigeria still grapSOHV ZLWK LQVX΀FLHQW EORRG DQG EORRG SURGXFWV QDWLRQZLGH due to lack of voluntary blood donation. The reluctance of individuals who are potentially eligible to donate blood is regardHG DV GRQRU DSDWK\ :LWK DQ DQQXDO QHHG RI XS WR PLOOLRQ XQLWV RI EORRG WKH 1%76 FROOHFWV RQO\ DERXW XQLWV SHU \HDU OHDYLQJ D GHÀFLW RI PRUH WKDQ PLOOLRQ SLQWV RI EORRG 7KLV LV GHVSLWH D SRSXODWLRQ RI DSSUR[LPDWHO\ PLOOLRQ RXW

of which over half are young people-the best demographic to donate blood.

Voluntary donors are safer and more reliable than people who are paid or coerced into blood donation. However, voluntary donors remain critically low for various reasons: limited information on where to donate, poor hospital reception, cumbersome protocols, limited opening times, inadequate donation centres and long waiting times. In major cities like Lagos, IXOO RI KHDY\ WUD΀F DQG ZRUNLQJ SHRSOH EORRG GRQDWLRQ QHHGV to be easily available on evenings and weekends.

The fear of needles, getting infected or sick after donation also prevents some potential donors. This rarely happens and the ease and safety of blood donation needs to be greater ampliÀHG WKURXJK DGYRFDF\ HVSHFLDOO\ WDUJHWLQJ WKH \RXWK In addition, the lack of commitment to blood donation can be attributed to distrust of the health care system, especially health workers who oversee the collection, storage, and distribution of blood. Health workers are sometimes reported to trade voluntarily donated blood for cash from blood recipients. These few bad apples also disincentivises voluntary donors. The inVX΀FLHQW VXSSO\ RI EORRG OHDGV WR KRVSLWDOV UDWLRQLQJ EORRG or even recruiting paid donors, which is unsustainable for our

health care system.

Finally, socio-economic and security challenges continue to UHPDLQ D KLQGUDQFH WR YROXQWDU\ GRQDWLRQ $V D VLJQLÀFDQW SHUcentage of the population grapples with meeting basic needs, persisting unemployment, rising poverty, and general insecuULW\ ÀQGLQJ WKH WLPH DQG VHOI VDFULÀFH WR JR DQG GRQDWH EORRG for strangers can be a hard encourage.

To solve these complex challenges, countries have invested VLJQLÀFDQWO\ LQ LPSURYLQJ FLWL]HQV· NQRZOHGJH RI YROXQWDU\ blood donation and its importance for the sustenance of lives.

They have developed systems to make donation easy, where donors are assured of their safety and that their donation will save lives. World Blood Donor Day serves as a reminder for DOO VWDNHKROGHUV JRYHUQPHQW 1*2V DQG KHDOWKFDUH ZRUNHUV to work together to appreciate blood donors for their lifesaving gift of blood. $GYRFDF\ RUJDQLVDWLRQV VXFK DV +DLPD +HDOWK ,QLWLDWLYH continue to work on educating the public on the importance of blood donation and facilitating the process for donors and patients including timely delivery of blood.

Bola Olukwewu, recade@yahoo.com

LAWYER TUESDAY, JULY 19, 2022

SENATOR BOLA AHMED TINUBU

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& RE A S O

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WEEKLY PULLOUT

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& RE A S O

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SENATOR KASHIM SHETTIMA

APC and the Insensitivity of a Muslim-Muslim Ticket

II

TUESDAY, JULY 19, 2022 ˾ T H I S D AY

IN THIS EDITION

Circumstances where Compliance with Rules of Court Can be Dispensed With Page IV

NBA 2022 Election: Maikyau Declared Winner!

Page V

QUOTABLE ‘I make bold to say here that, the Legislature has once again suffered losses. The loss really is not for the members who lost, it is a loss to democracy, to the institution, and to the country.’ - Rt. Honourable Olufemi Gbajabiamila, Lawyer, Speaker, House of Representatives, 9th National Assembly, Federal Republic of Nigeria

Nigeria Needs an Automobile Law, ANAMMCO Chairman Page V

LAWYER

ONIKEPO BRAITHWAITE: EDITOR, JUDE IGBANOI: DEPUTY EDITOR, PETER TAIWO, STEVE AYA: REPORTERS

III THE ADVOCATE

T H I S D AY ˾ TUESDAY, JULY 19, 2022

2023 Presidency: As Candidates Firm Up Their Tickets

N

ow that the main contenders for the office of Nigerian President come 2023 are known, and they have now picked their running mates, we thought that we could take a rest from politics until September 2022 when the Presidential campaign opens. Governance, which has been nothing to write home about, has practically ground to a halt, with politics taking the centre stage.

Lack of Governance Almost five months later, ASUU is still on strike with no end in sight (our children have been home idle for so long; while their counterparts in other parts of the continent and the world have completed the 2021-2022 academic session, our children are barely halfway through), and we have one of the highest numbers of out-of-school children in the world - yet, Government is unconcerned about this sad state of affairs. This year alone, we are experiencing our second or third fuel shortage with long queues at the petrol stations across Nigeria, despite being a major oil producing country; Government could not care less about the hardship this has inflicted on the people, nor the decline in productivity that it has occasioned.

These days, nobody in Nigeria is excluded from looking over their shoulders, given the state of insecurity that has permeated the country; Government is nonchalant and lackadaisical about it. I heard one of President Buhari’s spokesmen, Garba Shehu, during a television interview last week, still talking about Boko Haram having a hold of a few local governments in the North East when they assumed office in 2015 (according to him, which they were forced to relinquish upon this administration’s intervention), and that Nigeria is now a safer place! How can any right thinking person, let alone a Presidential spokesperson who is in the know, in all good conscience trivialise the state of our insecurity to that extent, telling barefaced lies? It gives the impression that the Presidency is not abreast, or prefers to turn a blind eye to what is going on in the country; Garba Shehu definitely sounded deluded and rather irritating. His statements smacked of insensitivity to the thousands of lives that have been lost across the country, including women and children and those who are going through untold hardship in captivity in the hands of terrorists/bandits/ kidnappers - uncharitable, thoughtless, detached and unrealistic comments. In 2015, insecurity was predominantly restricted to the North East; today, it is nationwide - the Kaduna train attack, Owo Catholic Church massacre, Abuja Kuje Prison attack, violence and burning of Government installations in Imo State and kidnap of the Methodist Bishop in the South East, are examples of the widespread violence and insecurity that are being experienced across Nigeria today. No part of the country is spared from insecurity.

Marching orders, which will certainly not be obeyed, have been issued by President Buhari to the security agencies (it is impossible to forget how former Inspector General of Police, Idris Ibrahim Kpotum was issued marching orders to relocate to Benue State when they were suffering too many attacks from Herdsmen; he popped into Makurdi for just one day, and when his disobedience became public knowledge, he was neither sacked nor sanctioned for his omission or insubordination; on the contrary, he practically became the President’s shadow, travelling with him on various trips around the country).

Economic development? That is impossible to achieve, without security. The International Oil Companies are dropping their interests in onshore oil assets, like hot potatoes. Whatever profit they were reaping from those assets, are obviously not worth the perils of insecurity, oil theft and corruption. Ethnic and religious violence portrays a country as unstable, and also hinders any worthwhile investment, be it local or foreign; yet, Government does not seem worried. Unless of course, the face that Government shows to the public to preserve their honour and goodwill (which has been seriously eroded) and prevent public panic, is different from what really goes on on the inside.

The health facilities in the country are deplorable, so much so that the President and Government officials, top the list of those who travel abroad on medical tourism - be it UK, USA, Germany, India, Egypt or Dubai. Constitutional crisis and lack of respect for the rule of law, are also the order of the day.

In short, many, if not most of the Fundamental Objectives and Directive Principles of State Policy contained in Chapter II of the 1999 Constitution of the Federal Republic of Nigeria (as amended)(the Constitution), remained largely unfulfilled (not just by this administration, but previous ones too). For this administration, it’s three main campaign promises which are part and parcel of the said Chapter II of the Constitution, fighting corruption and insecurity, and improving the economy, have not been fulfilled.

Running Mate Controversies However, instead of tackling the myriad of problems Nigeria is facing, those who should be so doing are still deeply enmeshed in political controversies, from choosing Party flag bearers to being concerned about the flag bearer choices of other Parties, to the dissension and bickering that has trailed the selection of the running mates. Some Governors have even turned to campaign managers of their flag bearers, thereby leaving governance in their States largely unattended to.

God’s prophet, must be wilful, not by compulsion.

Like I said on this page a few weeks ago, even though I fail to see how the mixed religious Muslim-Christian ticket we have presently, even with a Pentecostal Pastor as our Vice President, has doused the rising religious tension in the country (which is at a crescendo, I might add), the optics of a Muslim-Muslim ticket is bad, and is a cause for discomfort for millions of non-Muslim Nigerians.

They probably find the concept of a mixed ticket soothing and safer, even if it hasn’t been particularly useful in recent times. There is a feeling that the fact that we have a mixed ticket will be a check on religious bigotry, no matter how little or ineffective a check it may be.

ONIKEPO BRAITHWAITE onikepo.braithwaite@thisdaylive. com onikepob@yahoo.com

The

Advocate “……why Senator Bola Tinubu is not Muslim enough for the Muslim North? It has always been acceptable for a Muslim Northerner to choose a Christian running mate; why is it different now?…..Is there discrimination within the religion in Nigeria, pointing to the fact that Southern Muslims are lesser Muslims than the Northern Muslims?”

In the case of the PDP which is the main opposition Party, governance is not too much of their concern presently, not on a national level anyway, since they are not at the helm of affairs.

Apart from the initial objection of a Northern aspirant thereby jettisoning the zoning formula of the PDP, the kick against the nomination of Dr Ifeanyi Okowa by some PDP Party members had to do with the failure to allow for internal democracy within their Party. That majority voted for Governor Wike to be selected, but the Presidential candidate, Alhaji Atiku Abubakar, exercised the right endowed on him by virtue of Section 142(1) of the Constitution and chose Dr Okowa as his running mate instead, thereby ignoring the desire of the majority. Be that as it may, the optics of the selection of Dr Okowa as running mate, are not injurious to the eye.

As for the ruling APC, the choice of running mate, Alhaji Kashim Shettima (immediate past Governor of Borno State) who shares the same religion as the flag bearer, Senator Bola Tinubu aka ‘Emi lo kan’, is another matter. Section 142(1) of the Constitution which provides for the nomination of the Vice Presidential candidate, does not specify that a running mate cannot share the same religion as his Principal; both candidates are only mandated to be of the same political party. However, Section 224 of the Constitution provides that programmes, aims and objects of political parties shall conform to the provisions of Chapter II of the Constitution, which include federal character, promotion of unity, national integration, feeling of belonging and involvement among the various people in the Federation etc, while prohibiting discrimination on various grounds including religion - see Sections 14

Some of the Presidential Flag Bearers

& 15 of the Constitution. Also, see the case of Ugwu v Ararume 2007 12 N.W.L.R. Part 1048 Page 367 at 441-442 per Tobi JSC on the meaning of the word shall in a statutory provision like Section 224; it is a command, it is mandatory.

It is rather sad that where we should be debating and comparing what value the candidates will add to the development of the country, and how they will proffer solutions to our seemingly insurmountable problems, instead the country is distracted and has gone into a frenzy about the religion of the APC ticket. For a country which is supposed to be secular by virtue of Section 10 of the Constitution, and practice federal character because of its heterogeneous nature (Section 14(3) & (4) of the Constitution), these two elements have completely taken us over.

We hope that Nigeria is not edging dangerously close to Rwanda of 1994, or maybe even the European Crusades (series of religious wars) of the 11th - 15th centuries, between the Christians and Muslims.

With the APC Muslim-Muslim ticket, Christians all over the country (and some Muslims too), including APC Party members, have condemned Senator Bola Tinubu/APC’s choice of a Muslim running mate, especially given the religious tensions that Nigeria is presently facing. They consider it to be a huge slap in the face. I have even heard many comments like, “this Muslim-Muslim ticket is an attempt by APC to Islamise Nigeria”. I reiterate the fact that, people cannot be forced to embrace Islam by trick or by force. The Shahada, which is the First Pillar of Islam and profession of faith - declaration of the belief in the oneness of Allah and acceptance of Muhammad (PBUH) as

Strategies? Questions But, if you and I know how unwelcome a MuslimMuslim ticket would be in today’s Nigeria, then surely, Senator Bola Tinubu who is said to be a political master-strategist, would be more aware than we are, of the damage the choice of a Muslim running mate could do to his chances. It seems unlikely that someone would risk flushing their life ambition down the drain, in order to satisfy some ethnic and religious megalomaniacs (see Section 1(2) of the Constitution).

So, was his choice of Shettima just a ruse/risk to satisfy the powers that be within the APC, so that they could hear the resounding public outcry against the folly of such a choice, which could maybe even lead to the loss of the election, and subsequently, capitulate and choose a more suitable Northern Christian candidate? Section 31 of the Electoral Act 2022 (EA) allows a candidate to withdraw his or her nomination in writing 90 days to the election (in February 2023); in this case, Kashim Shettima can withdraw his candidature on or before November 25, 2022, and a fresh running mate can be substituted within 14 days of his withdrawal (Section 33 of the EA).

A question keeps recurring in my mind; the truth they say can be bitter - why Senator Bola Tinubu is not Muslim enough for the Muslim North? It has always been acceptable for a Muslim Northerner to choose a Christian running mate; why is it different now? Why can’t a Southern Muslim, choose a Christian running mate? Is there discrimination within the religion in Nigeria, pointing to the fact that Southern Muslims are lesser Muslims than the Northern Muslims?

Or is the somewhat unpopular choice of a MuslimMuslim ticket a strategy on the part of the Northern powers that be in the APC, to ensure that it’s flag bearer loses the election and keep the Presidency in the North? After all, it is difficult to tell the difference between APC and PDP, since many of the members, including highest ranking Party officials, have gone back and forth between the two parties like yo-yos.

If this be the case, a word they say, is enough for the wise and the master-strategists!

Litigation As for the case in court, seeking to prevent Peter Obi of the Labour Party and Senator Bola Tinubu from replacing their former ‘dummy running mates’ with real ones, I don’t see the case going anywhere.

The aforementioned Sections 31 & 33 of the EA, whether misused or not, permits this substitution.

Conclusion The competition is stiff, for the 2023 Presidential seat. It certainly does not seem as it will be a walk over, for the candidate who will be victorious at the polls. The votes seem to be divided across the candidates for different reasons, even though those who can be identified as the three major contenders for the Presidency all come with their own peculiar impediments. Aside from the ages of the Presidential candidates of APC and PDP, and allegations of corruption levelled against them (which I’m not aware have been proven in a court of law), for PDP, the fact that we have had a Northern Presidency for the past seven years (eight years when President Buhari completes his second term next year), is a minus. For the APC, apart from the issues raised about the health and history of its flag bearer, the Muslim-Muslim ticket is a minus.

And, for the Labour Party, even though Peter Obi has a strong following amongst the Youths, we don’t know if enough of them are registered to vote, and how strong his Party’s structure is across the country, for example, in the North.

Congratulations to Ademola Adeleke of the PDP for winning the Osun State Governorship election. In this case, justice delayed is not justice denied!

Congratulations to the Professor Mahmood Yakubuled INEC as well, for introducing this new system in which the votes of the people actually count. We can see that in 2023, elections are not going to be business as usual. For those who ‘genuinely’ feel that they will be able to impose a Muslim-Muslim ticket on Nigerians because they are the ruling party (and I use the word ‘genuinely’ gingerly with tongue in cheek), the outcome of the Osun election should let them have a rethink. Having a Presidential ticket that is acceptable to the people will definitely not only be a plus, it will be absolutely necessary to ensure victory, as election rigging may not be much of an option in 2023.

IV LAW REPORT

TUESDAY, JULY 19, 2022 ˾ T H I S D AY

Circumstances where Compliance with Rules of Court Can be Dispensed With

Facts

In 2007, the 1st Respondent, as Claimant at the trial court, filed some Writs of Summons together with other originating processes at the High Court of Lagos State Registry for three different suits which mainly were for libel against four Defendants jointly and severally. After the Writ of Summons was sealed, issued and processed for service on the Defendants, the 1st Respondent paid the statutory fees for service, and thereafter, the processes were assigned to the Sheriffs of the High Court in accordance with the rules of court to effect service. The Sheriff served the Appellant, the 2nd, 3rd and 4th Respondent in this appeal with the originating processes, and deposed to an affidavit of service. Three years later, while prosecuting the matter, the Appellant, 2nd, 3rd and 4th Respondent who retained the services of one law firm suddenly filed a Notice of Preliminary Objection, and applied that the names of the Appellant, 2nd and 4th Respondent be struck out because the originating processes were not served on them personally.

In the meantime, the 3rd Respondent informed the Sheriffs that she was authorised by the 2nd, 3rd and 4th Respondent to collect and sign for processes. The 2nd and 4th Respondent neither contested service of the originating processes, nor took steps in the proceedings at all. The 1st Respondent filed a Counter-affidavit to the Preliminary Objection.

In its ruling, the court refused to strike out the Appellant, the 2nd and 4th Respondent’s names. Rather, the learned trial Judge found the services of the originating processes on the 2nd and 4th Respondent only irregular and set them aside, whilst service of the originating processes on the Appellant was held as regular.

Based on the ruling of the trial Judge above, the 1st Respondent filed a motion ex-parte seeking to renew the Writ of Summons, inter alia. The trial court dismissed the application, and ordered that the 1st Respondent was precluded and restrained from proceeding against the 2nd and 4th Respondent with respect to the libel matter.

Dissatisfied with the ruling of court in respect of his ex-parte application, the 1st Respondent appealed to the Court of Appeal. The Court of Appeal gave judgement in favour of the 1st Respondent. Dissatisfied with the decision of the Court of Appeal, the Appellant has appealed to the Supreme Court.

At the Supreme Court, the 1st Respondent filed a Preliminary Objection, where he was argued that the grounds of appeal are of mixed law and facts and no leave was first sought for nor obtained before the filling of the Notice and Grounds of Appeal; hence, the ouster of the jurisdiction of court.

Issue for Determination The following sole issue was raised for determination by the court: Whether the Court of Appeal was right in setting aside the ruling of Honourable Justice O.A. Williams of the High Court of Lagos State, delivered on 29th day of July, 2010.

In view of Order 6 Rules 6 & 7 of the High Court of Lagos State (Civil Procedure) Rules, 2004 and the circumstances of the case.

Arguments Submitting on the issue, counsel for the Appellant contended that the court below gave judgement in disregard of the purpose and effect of the provisions of Order 6 of the High Court of Lagos State Rules, and the reason is that the motion ex-parte for a renewal of an expired Writ of Summons.

Honourable Mary Ukaego Peter-Odili, JSC

In the Supreme Court of Nigeria Holden at Abuja On Friday, the 6th day of May, 2022 Before Their Lordships Mary Ukaego Peter-Odili John Inyang Okoro Abdu Aboki Ibrahim Mohammed Musa Saulawa Tijjani Abubakar Justices, Supreme Court SC./948/2015 Between Mufutau Bamidele Akande 1.

2.

3.

4.

Appellant AND Professor Olugbemiro Jegede Toyosi Ogunseye (Reporter “News Star” Magazine) Carriage Concepts Communications Ltd Respondents (Publishers of “News Star” Magazine) Dele Adeosun (General Manager/Editor-in-Chief, News Star Magazine)

(Lead Judgement delivered by Honourable Mary Ukaego Peter-Odili, JSC)

The trial court considered the supporting affidavit and the circumstances of the case, and found that the grant of the application was against the relevant Order 6 Rules 6 & 7 of the Rules of that court. Counsel argued further that the application for renewal of the Writ, ought to have been made during the life span of the Writ of Summons sought to be renewed. Counsel relied on AJAYI v ADEBIYI (2012) 5 SC (Pt.III) 135.

Counsel also argued that the right to fair hearing is substantially a question of opportunity of being heard, and the right lies in the procedure followed in the determination of a case, and not in the correctness of the decision arrived at in the case.

In response to the above submissions, it was submitted for the 1st Respondent that Rules of Court are for the attainment of justice and advancement of substantial justice, and that the appeal was anchored

"There are thus exceptions to the jurisprudence that rules of court must be complied with. In a circumstance where a party who is unable to comply with the rules of court advances cogent materials for non-compliance, that brings his case within the exception for which the Applicant can get a waiver”

on mere technicality. Counsel also argued that the circumstances of the present case showed the mistake of service of the originating process was that of the court, and so the Respondents were excused on the non-compliance with the Rules of Court, and so the rules of fair hearing had been breached against the Respondent.

Court’s Judgement and Rationale In deciding the preliminary objection, the Supreme Court examined the Grounds of Appeal and held that objection was academic, as the two grounds were grounds of law. Thus, it was not necessary for the Appellant to seek leave of court - ENTERPRISE BANK LIMITED v AROSO (2014) 3 NWLR (Pt. 1394) 256.

On the main issue before the court, the Supreme Court held that it is now notorious and trite law that all rules of court should be obeyed and followed.

This is because rules of court are not for fancy or fun or window dressing, since they are helpful in regulating prosecution of cases in court, such that they occupy a place akin to a roadmap for the quick convenience, fair trial and orderly disposal of cases. Rules of court are part of the support system in the administration of justice. This is particularly important, as courts have departed from adherence to technical justice. However, to achieve the purpose

of obeying the Rules of Court in advancement of the course of justice, the rules of court should not be tyrannical and uncompromising masters, as the Appellant has urged.

This is to avoid a slavish interpretation, defeating the essence and purpose of the rules of court and ultimately the justice system.

There are instances where a party, due to no fault of his, is unable to comply with rules of court. Where there is such non-compliance, the attitude and reaction of the court will depend on the facts and circumstances of such case. The circumstances form part of the sole issue for determination, distilled and formulated by the Appellant in his brief of argument in this appeal. There are thus, exceptions to the jurisprudence that rules of court must be complied with. In a circumstance where a party who is unable to comply with the rules of court advances cogent materials for non-compliance, that brings his case within the exception for which the Applicant can get a waiver. In this regard, the provisions of Order 44 Rule 4 of the High Court of Lagos State Rules 2004, Section 6 (6), 17(2)(e), 36 and 272 of the 1999 Constitution come to mind as they are apposite, relevant and interrelated.

In the situation under review, the noncompliance with the rules of court as to service of originating processes was at the instance and mistake of the court when a party (a staff of the 3rd Respondent) held out to the Sheriff that he was authorised by the 2nd and 4th Respondent to accept processes on their behalf. In the record of appeal, the court below reproduced the affidavit in support of the motion ex-parte to renew the Writ of Summons and also served the 2nd and 4th Respondent by substituted service, found as a fact that non-compliance with the rules of court was occasioned and caused by the court and not the 1st Respondent. Clearly, the court below was on firm ground, and rightly held in the circumstance of this case, that the 1st Respondent has made a case that a litigant will not be held liable and punished for mistake of the court.

It is now common place and trite in law that, he who comes to equity must do so with clear intentions and be ready to do equity. Should the Appellant, 2nd, 3rd and 4th Respondent wait until almost three years before raising the competence of the originating processes, a period well outside the six months when a Writ of Summons should have been renewed in accordance with the provisions of Order 6 Rules 6 and 7 of the High Court of Lagos State Rules 2004. What is more in taking the appeal to be dismissed? The service of the originating processes that was set aside by the trial court which evoked the motion ex-parte for a renewal of the Writ of Summons, was a mistake committed by the court which should not be visited on the 1st Respondent. This is because the court’s way of doing substantial justice in a matter, has been to move out and firmly so, out of the era of technical justice to the era of doing substantial justice based on the merits of the case. All that the Appellant urged in the entire process, is to make the rules for the sacrifices for justice on the altar of technicality, a situation roundly depreciated and condemned by the court - HDP INEC (2009) 8 NWLR (PT. 1143) 297.

Appeal Dismissed.

Representation Appellant and counsel absent.

A.R. Fatunde with A.U. Umoso for the 1st Respondent.

2nd and 4th Respondents and their counsel absent .

Reported by Optimum Publishers Limited, Publishers of the Nigerian Monthly Law Reports (NMLR)(An affiliate of Babalakin & Co.)

V

TUESDAY, JULY 19, 2022 ˾ T H I S D AY

NEWS

L-R: Director, Anambra Motor Manufacturing Company (ANAMMCO), Mr Uche Okeke; External Auditor, Mr Olufemi Ojolo; Director, MOA, representative of Abia State, Mr Uma Ukonu; Company Secretary, Olubunmi Tadema; Chairman, ANAMMCO Board, Sir L-R: Mrs Jumoke Lambo, Mr Ken Etim, Mrs Kemi Segun, Dr Tominiyi Owolabi, Godwin Ubaka Okeke; MD, Mr Maduabuchukwu Okeke; Punuka, Company Secretary, Sharon Juwah; and Director, Mr Adewale Folowosele, during the 46th Annual General Incoming NBA President, Y.C. Maikyau, SAN Mrs Odunola, Mr Ayuli Jemide, Mr Olasupo Shasore, Mr Baba Alokolaro, Mrs Dolapo Kukoyi, Mrs Kemi Ajayi, Mr Kunle Obebe Meeting of ANAMMCO at Lekki, Lagos last Thursday PHOTO: KOLA ALLI

NBA 2022 Election: Maikyau Declared Winner!

It’s official! Yakubu Chonoko Maikyau, SAN, emerged as NBA President, at the conclusion of online voting by Nigerian Lawyers at midnight last Saturday.

In a swift reaction, his closest contender J-K Gadzama,

SAN complained about irregularities in the election, and in a letter to his supporters, he expressed appreciation for their overwhelming support, urging them to stay calm amidst the complaints.

The President-elect, Mai-

Nigeria Needs an Automobile Law, ANAMMCO Chairman The Chairman of Anambra Motor Manufacturing Company Limited, Chief (Dr) Godwin Ubaka Okeke, MON, has called on the National Assembly to change the 2013 Nigeria Automobile Policy into law.

Chief Okeke made the call while speaking to a cross-section of newsmen, at the 46th Annual General Meeting on Thursday, 14th July, 2022 in Lagos.

He maintained that the policy summersault of the Government, means all that was achieved during the previous years has been lost, as the automobile industry has fallen backward again.

“The policy somersault of Government in applying the same import duty rate of 10% on Semi-Knocked Down (SKD) and Fully Built (FB) buses and trucks took its toll on local manufacture of automobiles, as it was cheaper to import FB units.

Therefore, assembly took a hard hit which can be gleaned from our income from this source plummeting

from N85 million in 2020 to just N3 million in 2021.”

He further stated that because of this same reason, the sector has not witnessed any substantial foreign investment, and no one wants to invest in a place where there are no standing policies to protect their investment. With this, it has become a bit hard to realise the dream of building a 100% Nigerian car.

Also speaking at the media briefing, the Managing Director of the company, Mr Okeke Maduchukwu, further stressed the need for an automobile law. He pointed to the Ghana’s automobile law, which according to him, had seen the country becoming the destination point of major car manufacturers such as Toyota which has set up an assembly plant in the country.

The MD also said that the opening of the new Lagos showroom was purely a business move aimed getting closer to their customers, since Lagos is the biggest market in Nigeria.

kyau, SAN, polled a massive 22,342 votes, followed by Joe-Kyari Gadzama SAN who polled 10,842, with Jonathan

Taidi coming third with 1380 votes.

The elected officials for other offices are as follows:

Lynda Bala Rose — 1st Vice President Clement Chukwuemeka — 2nd Vice PresidentAde Adegbite —

General SecretaryDaniel Kip. — Assistant Secretary Caroline Ladidi Bishop — Treasurer

Court Orders NASS, RMAFC, AGF to Review Judicial Officers’ Salaries The National Assembly, the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) and the Attorney-General of the Federation (AGF), have been ordered to urgently initiate measures to ensure an upward review of the salaries and allowances of Judges in the country.

The National Industrial Court in Abuja gave the order on Friday, in a judgement delivered in the suit before it.

Delivering the judgement, Justice Osatohanmwen ObasekiOsaghae, said that the stagnation of the salaries and allowances of the nation’s Judges since 2008 when they were last increased, is not only embarrassing, but an injustice deliberately done to judicial officers who toil daily to ensure justice for all.

The judgement was on Suit No. NICABJ/142/2022 filed by a Senior Advocate of Nigeria, Chief Sebastine Hon, who argued that since 2008 when Judges salaries and allowances were last increased, inflationary trends and current socio-economic realities have rendered such pay inadequate.

Defendants in the case are the N/Assembly, the RMAFC, the AGF, and the National Judicial Institute (NJI).

Justice Obaseki-Osaghae, directed that her judgement be promptly served on the RMAFC for immediate action, ordered that the highest judicial officer, the Chief

Justice of Nigeria (CJN) should now earn N10 million monthly.

According to the Judge, other Justices of the Supreme Court and the President of the Court of Appeal should earn N9 million monthly, while other Justices of the Court of Appeal and Chief Judges of the High Courts of States and Federal Capital Territory, the President of the National Industrial Court, Grand Kadis of Sharia Courts of Appeal and President of Customary Courts are to earn N8 million monthly.

The Judge further ordered that other Judges of the Federal High Court, High Court of States, National Industrial Court, High Court of the FCT, Sharia Courts of Appeal, and Customary Court of Appeal should earn N7 million monthly.

She also frowned at the disposition of the AGF, the N/ Assembly, and the RMAFC to the case, and dismissed the objections filed by the AGF and N/Assembly, challenging the court’s jurisdiction to hear the case.

The Judge rejected the contention of the AGF, that Judges were workers whose salaries are increased not as of right, but through a negotiation process between the employees and their employers in the form of collective bargaining.

“Justices and Judges, who are judicial officers, exercise the judicial powers of the State. They

are holders of public offices, in the same way as Ministers and Legislators. The Honourable Chief Justice of Nigeria is the head of the third arm of Government - the Judiciary. Justices and Judges are the repositories of the Judiciary.

“The question to be asked, is whether Ministers (representing the Executive) and the Legislators (representing the Legislature) are workers/employees, who should enter into negotiation and collective bargaining for an increase in their salaries as the third defendant (the AGF) has stated that judicial officers should do”, she said.

The Judge said since judicial officers, like Ministers and Legislators are not unionised and have no union to fight their cause, the only way to effect increase in their salaries is by constant review of Certain Political, Public, and Judicial Office Holders (Salaries and Allowances, etc) Act as it applies to them (judicial officers).

“The salary of workers, in the context used by the third defendant is not legislation.

It is therefore very wrong for Justices and judges, who are judicial officers, and who are elevated to a high status by the 1999 Constitution to be referred to as workers by the third defendant (the AGF).

“Justices and judges of the Federal Republic of Nigeria, are definitely not workers in the

context used to address them in the third Defendant’s affidavit and written address.

“There is no doubt that from the evidence adduced, the salaries and allowances of judicial officers and their service conditions have been altered to their disadvantage after their appointment.

“Regrettably, the first, second, and third Defendants (N/Assembly, the RMAFC and the AGF), who the 1999 Constitution entrusted with the task of promoting the welfare and general wellbeing of judicial officers neglected, refused, and failed to do this since 2008.

“Judicial officers of the Federal Republic of Nigeria have, by this failure, been impoverished with the devaluation of the Naira.

“By their status as Justices and Judges, there is no doubt that they must and have suffered financial embarrassment and financial harassment, as a result of their current salaries. It is a national shame.

“There can be no doubt that the poor salaries would have effect on the quality of work and general wellbeing of the judicial officers” , the Judge said.

Justice Obaseki-Osaghae noted that it was strange that the AGF, who is the nation’s Chief Law Officer and the leader of the Bar, who ought to lead efforts to ensure adequate pay for Judges, was against it.

Nigerian Law Firms Must Reposition There is an urgent need for Nigerian law firms to reposition their setup and practices, if they want to make any headway in the fast changing world of law.

These were the general views of both the panel and the audience, at end of a Managing Partner round table discussion organised by the NBA’s Section on Business Law and the Association of Law Firm Administrators Nigeria [ALAN].

In his Keynote Address, the Chairman of NBA-SBL, Mr. Ayuli Jemide, said that the time has indeed come for Nigerian Lawyers to reposition themselves and their law practice, if they intend to remain relevant. He maintained that current trends have shown that, there is more than law practice.

He said the theme for discussion which is ‘Leading the Law Firm of the Future’

is very timely, considering the fast pace at which technology is changing our lives In his contribution, Dr Tominiyi Owolabi, Managing Partner of Olaniwun Ajayi LP, said that Lawyers must see law practice as a business that they have to grow, and make a profit out of. He pointed out that, unlike in the early days, today's law firms are IT-driven, and because of this, there is the need to properly define

and separate the role of the Managing Partners, and the Chief Operations Officers who handle all other matters.

Mrs Jumoke Lambo, a Partner at Udo Udoma & Belo Osagie, in contribution, said training of both management staff and those below, are key to achieving the law firm of the future. This, according to her, is because today’s client is not only about the law, rather they are about everything, and

they are asking questions about everything. The Panelist also stressed the need for a proper balance of work and health, pointing to mental health and depression, as always knocking on the door.

Another Panelists, Dolapo Kukoyi, spoke about succession plan for the future law firm. She opined that Partners can source out their successor anyway they wish, but she preferred the organic way. The Managing

Partner of Detail Commercial Solicitors stated the need for senior Lawyers to improve their relationships with young Lawyers who are always on the move, because the truth is that, they are really in demand.

Other Panelists who spoke at the event include Baba Alokolaro, Kemi Ajayi, Ken Etim, Kemi Segun, and Kunle Obebe.

The discussions was moderated by Mr Olasupo Shasore, SAN.

#upjudicialsalaries “The first task, is for Justice Ariwoola to demand for an urgent review of Justices and Judges’ salaries, emoluments and welfare packages…A positive review of their salaries and welfare packages, would significantly curb temptation and the perceived situations of bribery, corruption and cases of selling justice to the highest bidder.” - Chief Mike Ozekhome OFR, SAN

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TALKING CONSTITUTIONAL DEMOCRACY DR. MIKE OZEKHOME, SAN

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When the Apex Court Rumbles, Quivers and Quakes (Part 2) Introduction We discussed part of this issue last week. o much has gone wrong with our Judiciary, that the onus is now on the acting CJN, Justice Olukayode Ariwoola, to clean up the mess; to deodorise the Augean stable. No doubt, the Judiciary under Tanko Muhammad was mired in many controversies. For instance, the recent judgement by the Supreme Court under his watch, which affirmed the right of Muslims to wear hijab in Secondary Schools in Lagos State, has since resulted in some Lawyers appearing in court in different religious attires, claiming it as their constitutional right.

After all, the hijab which the Supreme Court gave judicial imprimatur to, is not part of a Lawyer’s prescribed accoutrement.

The Indian High Court in Karnataka had on the contrary, ruled that the hijab is not an “essential” part of Islam, and upheld a State Government order which had banned headscarves in classrooms. In the 129 page judgement, the three Judge Bench held that allowing Muslim women to wear the hijab in classrooms would hinder their emancipation, and go against the constitutional spirit of “positive secularism”. It held that wearing hijab was only recommendatory, and not obligatory.

This Apex Court judgement makes a mockery of the Judiciary, and impacts negatively on the temple of justice as a circus show. Besides, there are always conflicting orders from courts of coordinate jurisdiction, including even the intermediate and Apex courts. This manifests more in political cases. There is no longer certainty in the law. Judicial precedent and stare decisis, have been consigned to the vehicle of historical oblivion. However, though very welcome as a refreshing occurrence that has breathed fresh air into our polluted judicial environment, Ariwoola’s emergence has also set a record in succession as the Judiciary has thus, produced three CJNs within a period of three years from 2019 to 2022. What will Ariwoola do now, to right many wrongs?

Today, we shall x-ray the huge task before acting CJN Ariwoola.

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The Huge Task Before Justice Ariwoola Recall that Justice Ariwoola was himself one of the 14 Justices of the Supreme Court, who had protested to retired Justice Tanko Muhammad about the sorry and unspeakable state of Supreme Court Justices. He therefore, obviously knows where the shoe pinches, and where the roof leaks. He has now been given the opportunity, to become the change agent he can decide to be. He is expected to change the narrative. Therefore, the task ahead of the learned Justice is mountainous, but not insurmountable or unconquerable. He has to distinguish himself from past Supreme court administrations, the last of which he joined other Justices to frown at. He has to give Nigerians something refreshingly different and new, which they will be happy about, amidst the abysmal failure of the present Government that has put Nigeria on lifesupport. He must change the narrative of modern-day Nigerian leaders who only think for them, themselves and theirs alone. Yes, leaders whose principle and philosophy of life centre on I, me and myself.

Justice Ariwoola must understand that, public confidence in the Judiciary has

Inside the Supreme Court

waned tremendously and pitiably. It has hit rock-bottom. The Judiciary has almost lost its value, significance and relevance as the third arm of Government, without which the country cannot course forward.

Consequently, there is the need for urgent reforms and rebuilding of public confidence in the battered, torn and tattered house of justice. The surgical operation is the urgency of yesterday. Not one of today or tomorrow.

Justice Ariwoola must recreate Baron de Montesquieu’sctripartite doctrine of the separation of powers into the Executive, the Legislature and Judiciary.

The first task, is for Justice Ariwoola to demand for an urgent review of Justices and Judges’ salaries, emoluments and welfare packages. This is crucial because the impartiality and fairness of the justice system, begins with the Judges themselves.

A positive review of their salaries and welfare packages, would significantly curb temptation and the perceived situations of bribery, corruption and cases of selling justice to the highest bidder. Thank God the National Industrial Court, in a suit filed

by Chief Sebastine Hon, SAN (of which I was part), has just reviewed upwards (in a trademark decision), salaries of all Judges, across board. Justice Ariwoola has to ensure that this new welfare package is activated, and enforced immediately.

The next task for the cerebral grey-bearded Justice of great erudition, is to ensure total independence of the Judiciary. The Judiciary needs its independence, not just in words, but in deed, to be able to freely exert itself on matters, both national and grassroots, without fear or favour, malice or ill-will. The Judiciary must never be a mere toothless bulldog and appendage of the Executive, which can only bark and not bite. It is often regarded as the weakest of the three arms of government (coram Alexander Hamilton, in his Federalist Paper No. 78; because it has neither purse nor sword to enforce its judgements). This was never the intention of the law makers in Sections 4, 5 and 6 of the 1999 Constitution. The Judicary must advocate and insist on its own budget and complete control of its own financial affairs, without any interference whatsoever from the executive or legislative arms of government.

There should also be public oversight, in the manner in which the Judges dispense justice. Aside from the overwhelming

“….. Justice Ariwoola….obviously knows where the shoe pinches, and where the roof leaks. He has now been given the opportunity, to become the change agent he can decide to be”

backlog of cases due to gross shortage of Judges, antiquated manual handling of cases, and the numerous suits being filed daily (some very frivolous), the issue of forum-shopping, Judge-shopping and refusal by Judges to hear urgent cases for political reasons, further add to the slow dispensation of justice. Therefore, there ought to be some supervisory oversight in the way and manner Judges handle their cases. The notion of Judges being the “lord and master” of their courts, should be cast into the garbage heap of history where it rightly belongs. A new era of checks and balances of Judges by a review and supervisory panel or committee, should be ushered in immediately. The Supreme Court and other superior courts should allow a situation where their judgements are subjected to rigorous public scrutiny, incisive intellectually-grounded academic review and fair criticism by intellectuals, the academia and general members of the public. This will keep Judges, forever on their toes.

Of course, it follows from this recommendation, that there is also the need to strengthen the recruitment process by which Judges are appointed. There must be provision of incentives to encourage applications from highheeled private legal practitioners, including SANs, for positions on the Bench. The examples of Justices Augustine Nnamani, Chukwudifu Oputa, Taslim Olawale Elias and Paul Nwokedi. They had emerged either as private legal practitioners, or Judges of High Courts and landed straight on the Supreme Court Bench. They remained as some of the very best Jurists ever, on the Nigerian judicial firmament. Public confidence in a free, fair and impartial Judiciary can only be promoted when the recruitment process itself is fair, transparent and inclusive.

This process must be subjected to the time-tested principles of transparency, accountability and public scrutiny.

The Supreme Court registry comes into play here. It is now common knowledge that some staff of the Supreme Court registry deliberately sit on cases they do not want heard, while fast-tracking other preferred ones.

This trend, which is apparently driven by external forces, must be halted immediately. The new acting CJN should call for all existing live files, and he will be shocked and dismayed as to how some old political cases have been relegated and shelved away to gather dust, while some fresh ones are being given accelerated hearing.

I am a victim of this unwholesome practice, where I have been forced to write several reminder letters for a

mere assignment (for hearing) of a sensitive political case filed nearly three years ago.

Yet, some new ones filed later had since been assigned, fixed, heard and disposed of by the Apex Court. There is the perception that huge money exchanges hands, in this unwholesome practice. Perception, of course, is reality. Justice Ariwoola should timeously step in immediately, to halt this administrative rot.

If these few recommendations are put in place by Justice Ariwoola, the Judiciary will surely take a turn for the better. I do appreciate that Rome was not built in a day, and that the reforms in the Judiciary cannot happen overnight. However, proactive and prompt steps in ensuring quick dispensation of justice would quicken such reforms, and drive the Judiciary in the right direction. This would definitely stamp Justice Ariwoola’s name in history, and make his legacy one not to be forgotten in a hurry. Justice is rooted in confidence.

And, when that evaporates, then we experience a recession and regression into the Hobbesian state of nature, where life was short, brutish, solitary and nasty. May God forbid. (Concluded).

SERIOUS AND TRIVIAL “A king with a defect in one eye and one leg asked all Painters to draw a beautiful portrait of him, but no one was ready to draw, as how to show him beautiful with defect in one eye and a defect in a leg was a challenge.

One Painter, however, agreed and did a classic job. It was such a FANTASTIC painting, that everyone was surprised.

He painted the king as a hunter aiming for a deer in a hunt, targeting with an eye closed and a leg bent. I think we can all paint others like this, ‘hiding their weakness’ and ‘highlighting their strengths’. May we learn to hide other’s weakness and bring their virtues to light.

For in our weakness, the grace of God is made sufficient.”

THOUGHTS FOR THE WEEK “I tremble for my country when I reflect that God is just; that his justice cannot sleep forever.” (Thomas Jefferson) “Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is an organised conspiracy to oppress, rob and degrade them, neither persons nor property will be safe.” (Frederick Douglass) “The glory of justice and the majesty of law, are created not just by the Constitution - nor by the courts - nor by the officers of the law - nor by the Lawyers - but by the men and women who constitute our society - who are the protectors of the law, as they are themselves protected by the law.” (Robert Kennedy)

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n Thursday, July 14th, 2022, the Nigerian Bar Association (NBA) held the Commissioning Ceremony of the NBA Institutes Building located at 9, Oro Ago Crescent, Garki 2, Abuja, consisting of the Folake Solanke Wing, housing the NBA Institute of Continuing Legal Education & the Oluwarotimi Akeredolu Wing, housing the NBA Human Rights Institute. The building was commissioned by the Governor of Ekiti State, Dr Kayode Fayemi.

Here are some of the personalities who attended the event…..

PHOTOS: GODWIN OMOIGUI

L-R: Governor Akeredolu, SAN; NBA President, Olumide Akpata; Chief Solanke, SAN and Governor of Ekiti State, Dr Kayode Fayemi

Honourees, Governor of Ondo State, Arakunrin Oluwarotimi Akeredolu, SAN (Aketi) and first female Senior Advocate of Nigeria, Chief Folake Solanke, SAN who celebrated her 90th birthday recently

L-R: Former Attorney-General of Cross River State, Mrs Nella Andem-Rabana, SAN; Editor of This Day Lawyer, Onikepo Braithwaite and D-G, Nigerian Law School, Professor Isa Chiroma, SAN Mr Niyi Adegbonmire, SAN

Minister of State of Transportation, Mr Ademola Adegoroye

Former Attorney-General of Edo State, Professor Yinka Omorogbe, L-R: Former Attorney-General of the Federation, Chief Bayo Ojo, SAN; Mrs Joyce L-R: Incoming NBA President, Mr Y.C. Maikyau, SAN; Deputy Vice Chancellor, SAN (left) and Member of the NBA Human Rights Institute, Oduah and Mr George Etomi ABUAD, Professor Damilola Olawuyi, SAN and Mr J.S. Okutepa, SAN Professor Joy Ezeilo

Chairman of the NBA Human Rights Institute, Mr Chino Obiagwu, SAN Chief Muyiwa Akinboro, SAN (left) and Professor Ernest and Mr Rafiu Lawal Rabana, SAN Ojukwu, SAN

Chairman, NBA Ibadan Branch, Mrs Folashade Aladeniyi and former NBA General Secretary, Mr Isiaka Olagunju, SAN

General Secretary of the NBA, Mrs Joyce Oduah (left) and wife of the NBA President, Mrs Osayamon Akpata

Governor Fayemi commissioning the building consisting of the Folake Solanke Wing and the Oluwarotimi Akeredolu Wing housing the NBA CLE & Human L-R: Secretary to the Ondo State Government, Mrs Catherine Odu; Chief Solanke, Rights Institutes, with Chief Solanke, SAN (left); Governor Akeredolu, SAN; SAN; Mrs Yewande Zaccheaus; Ms Sharon Ikeazor and Onikepo Braithwaite Mrs & Mr Akpata and Mrs Joyce Oduah (behind) looking on

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APC Presidential Flag Bearer, Senator Bola Ahmed Tinubu

APC Vice Presidential Candidate, Senator Kashim Shettima

APC and the Insensitivity of a Muslim-Muslim Ticket To the chagrin of many, the ruling Party, the All Progressives Congress (APC) made a move that perplexed many, when its Presidential flag bearer, Senator Bola Ahmed Tinubu, after initial prevarication selected Senator Kashim Shettima, former Governor of Borno State and a fellow Muslim, as his running mate. While some bemoan the insensitivity of the APC in featuring a Muslim-Muslim Presidential ticket, some others consider it political suicide, as they believe it will dampen the chances of the Party at the polls. Some APC stalwarts have registered their disapproval of this development, by resigning from the Party in protest. Dr Daniel Hassan Bwala, Inibehe Effiong and Ogedi Ogu, express their views on this rather controversial choice of APC The Audacity of Hypocrisy and the Hypocrisy of Competence Dr Daniel Bwala

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ince my resignation from membership of APC, I have heard from, listened to and read about the rich resources of Nigerians, whose interventions have contributed to the debate on diversity, equity, shared prosperity and inclusiveness. Of all the interventions that at least I have come across, what I find curious is a certain narration that religion is not relevant in politics, that the poor man on the street does not care about religion, that he just wants food on his table; and the funniest of all is the notion that choice and selection of the Vice Presidential flag bearer of APC was made purely on the basis of competence, as against religious consideration. This is what I call, the

audacity of hypocrisy and the hypocrisy of competence.

1. The Audacity of Hypocrisy For avoidance of doubt, hypocrisy is defined as “ The practice of claiming to have higher standards, or more noble beliefs than is the

case”. In other words, the practice of saying we should ignore religious injustice, disregard to diversity and simply focus on issue-based campaign; as if equity, diversity, justice are not issues that affect the electorates and form the bases for their choices and decisions. Everywhere in the world, wherever religion disfavours the minority, it has always been an issue that forms talking points in campaign and solicitations for votes. The hallmark of religious conversation is not only to buttress inclusiveness, but to ensure the protection of religious rights. Today, in both the United Kingdom and the United States, the concepts such as Islamaphobia and antisemitism are core issues that affect Muslims in largely Christian dominated countries and Jews in the society that harbours neo-nazism. Therefore, it has been a campaign issue.

When the various political parties began preparations for primary elections, there were several meetings by different sections, blocs and zones of the country debating

“When the flag bearer of APC stated that the rationale behind his choice of a running mate was competence, I laughed in Chinese, because even on the evidence of a choice of a Muslim candidate, Governor El Rufai is by far a more competent and experienced candidate than the chosen candidate”

around zoning formulae and the need to entrench diversity and opportunities, as in the selection of the various positions ranging from State, National Assembly, Governorship and Presidential elections by political parties to produce candidates for the general contest. Some of the fiercest advocates for zoning then, have now supernaturally turned into experts on competence and compellability. A good example was when politicians from the North were insisting on participating in the Presidential primaries, on account of competence and opportunity; some of the Southern politicians dismissed that and insisted on zoning for equity and fairness. The same politicians who insisted on zoning have suddenly turned 360 degrees, and are now saying that the demand for religious zoning is a non-issue and unnecessary distraction. For example, in APC, when the National Chairman once said the party is likely to field a Northerner if PDP produced a northern candidate, on the ground that its only a Northerner that can defeat a Northerner, the now-competence-advocates were then the-equity and fairness-advocates.

Some even were subliminally suggesting that, fielding a Northern Presidential candidate might destabilise the peace and unity of the country. These equity and-fairness advocates, having eventually achieved their dream, albeit via the cooperation of the Northern Governors’ Forum, have now turned to say the request

by Northern minority Christians for equity is a distraction, and should be ignored. Audacity of hypocrisy. The same can be likened to those who, against the Party’s decision, expressed and worked towards a more fair and equitable outcome, have now seen no reason why the same standards be applied to Northern minority christians. Hypocrisy of competence.

2. The Hypocrisy of Competence The hypocrisy of competence, is the most asinine argument I have ever heard. Hiding behind competence to perpetuate an agenda, as if competence cannot be found in every tribe, ethnic and religious background. Brandishing competence with no criteria, or set standards for decision making. Oftentimes, the outcome shows the very opposite of competence. It has now become a common cliché, in our political processes and participation. When someone wants to perpetuate fraud and injustice, he hides under the guise of competence, as if the principle of federal character has been expunged from our Constitution.

When the flag bearer of APC stated that the rationale behind his choice of a running mate was competence, I laughed in Chinese, because even on the evidence of a choice of a Muslim candidate, Governor El Rufai is by far a more competent and experienced candidate than the chosen candidate. If you stretch the argument further, you then factor Northeastern Christians such as Boss Mustapha who is a serving Secretary to the Government of the Federation with full knowledge

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APC and the Insensitivity of a Muslim-Muslim Ticket and rich experience of the working of the Government of the Federation; Hon Dogara, former Speaker of the House of Representatives, with rich contacts and association across the country and knowledge of parliamentary affairs, with regard to the Government of the Federation. All these people were dismissed with a wave of hand as incompetent, or less competent than the chosen one. The irony is that whilst the flag bearer diverts attention to competence, the real issue is religion, because, szzzzuddenly, those who support his choices could not hide the reality, and had to be all over the media advocating that a Muslim Northerner is required to secure the votes of the Northern Muslims. That’s the issue, religion, which competence-advocates were quick to dismiss. This brazen injustice will run deep in the spines of the Northern minority Christians, and again, scratch the wounds of trust.

The Northern minority Christians have been loyal and faithful, to the northernisation dream of shared prosperity. Since the times of Sardauna of Sokoto, the late Sir Ahmadu Bello who instituted the nothernisation philosophy of equity and shared prosperity, to date and in all strata of our national life, the minority Northern Christians have not only identified with the rest of the North in struggles, but have sacrificed a lot in the endeavour. Now, after more than 60 years, they cannot be trusted to be given their fair share of opportunity in governance. In other words, they are not Northerners because of their religious identity, and you tell me APC is not playing identity politics.

The outcry sought for a fair and equitable leadership that will address it; unfortunately, Asiwaju has demonstrated that an Asiwaju government would not only accept and endorse the injustice, but he will reinforce it under the guise of competence. In APC, clearly there seems to be no path to happiness for any Christian, let alone Christian politician.

I am also surprisingly seeing my Christian brothers, who during the primaries who worked against Asiwaju for their preferred candidates, and knowing what is to come to them now that he is the flag bearer, have taken on the mantle to seek remission of sin and acceptance as the beloved, and are all over the media masturbating asinine arguments in the hope they will be integrated into his plans and government, if and when he wins.

As for me I was already in a place of comfort in Asiwaju’s universe; I fought hard and at the risk of life for his emergence, and was personally promised a leading role in his campaign and government, when I made the decision to resign. Let me close by quoting the holy book Esther 4:14: “For if thou altogether holdest thy peace at this time, then shall there enlargement and deliverance arise to the Christian from another place… and who knoweth whether thou art come to the kingdom for such a time as this” I rest my case.

Dr Daniel Bwala, Legal Practitioner and Barrister Lincoln’s Inn (NP), Abuja

‘Legality’ of the APC’s MuslimMuslim Presidential Candidacies Inibehe Effiong The decision of the All Progressives Congress (APC) to nominate Alhaji Bola Ahmed Tinubu and Senator Kashim Shettima as her Presidential and Vice Presidential candidates respectively, has thrown the country into palpable political and ethno-religious tension; given that both

Dr Daniel Bwala

candidates are of the Islamic faith, which has altered the established political tradition and further jeopardised the delicate structural balance of Nigeria.

Constitutional Requirements for the Office of President and Vice President As the controversy rages on, this op-ed attempts to dissect the legal perspective and the implications of the same faith candidacies adopted by the APC. As a preliminary point, it should be noted that faith or religious identity of a candidate, is not a prerequisite or a qualifying criterion for eligibility into elective offices. Thus, the issue is not whether Kashim Shettima is qualified to be the Vice President within the purview and contemplation of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

The office of Vice-President is established

by Section 141 of the Constitution which states that “there shall be for the Federation a Vice-President”, while Section 142 (1) of the Constitution prescribes the process of nomination and election of Vice President.

Regarding qualification and disqualification, Section 142 (2) read along with Section 131 of the Constitution states that the indices of qualification and disqualification applicable to the office of President shall apply to the office of the Vice-President.

In other words, a person shall be qualified for election to the office of Vice-President if: (a) he is a citizen of Nigeria by birth; (b) he has attained the age of forty years; (c) he is a member of a political party and is sponsored by that political party; (d) he has been educated up to at least School Certificate level or its equivalent.

From the foregoing, there is no doubt that Senator Kashim Shettima has met the constitutional requirements to be nominated as the Vice Presidential candidate of the APC. Principle of Federal Character As earlier cautioned, the real issue is not about qualification; the real question or issue is whether the decision by Tinubu and the APC to select and nominate Shettima as their Vice Presidential candidate despite being of the same faith with the Presidential Candidates, is in conformity with the constitutional principle of federal character?

I will preface my attempt to answer the above question, by drawing our attention

“…..has the APC, by nominating Presidential and Vice Presidential candidates from the same faith promoted national integration, national unity and national loyalty, or has it promoted disunity, sectional loyalty and disintegration?…… the APC has violated the federal character principle”

Inibehe Effiong

to Section 10 of the Constitution which is construed by a jurisprudential school of thought as the provision that entrenches the secularity of the Nigerian state, by declaring emphatically that “the Government of the Federation and of State shall not adopt any religion as State religion.”

In essence, while there is general consensus that Christianity and Islam are the ‘dominant’ religions in Nigeria, the Constitution forbids any act or omission which seek, tend or purport to elevate either religions as State religion.

In discussing Muslim-Muslim ticket, or Christian-Muslim ticket, we should bear in mind that these religions are not the official religions of the Nigerian State and cannot be elevated as such, having regard to the constitutional encumbrance in Section 10.

The federal character principle at the federal level is rooted in Section 14 (3) of the Constitution. For clarity, the provisions are reproduced verbatim infra: “14(3) The composition of the Government of the Federation or any of its agencies and the conduct of its affairs shall be carried out in such a manner as to reflect the federal character of Nigeria and the need to promote national unity, and also to command national loyalty, thereby ensuring that there shall be no predominance of persons from a few State or from a few ethnic or other sectional groups in that Government or in any of its agencies.”

From the above provisions, the composition of the Government of the Federation, and the conduct of its affairs shall be carried out in such a manner as to reflect the federal character of Nigeria, promote national unity, and also command national loyalty, and ensure that there shall be no predominance of persons from a few ethnic or other sectional groups in that Government.

Some commentators have contended that religion has nothing to do with the federal character principle, and that in any event, elective offices are not subject to federal character. This argument is flawed and we shall illustrate this momentarily.

Before exposing the flaws in this argument, there is a fundamental question that must be addressed and it goes thus: what is the federal character of Nigeria?

The word “character” can simply be defined as the attributes, traits, mannerisms, physical makeup, culture or personality of a person, society, nation or thing. The Constitution Drafting Committee (CDC) in its 1977 report, defined Federal Character as follows: “The distinctive desire of the peoples of Nigeria to promote national unity,

foster national loyalty and give every citizen of Nigeria a sense of belonging to the nation notwithstanding the diversities of ethnic, origin, culture, language or religion which may exist and which it is their desire to nourish, harness to the enrichment of the Federal Republic of Nigeria.”

More concisely, Section 14 (3) of the Constitution reproduced supra, is unequivocal on the purport of the federal character principle. The intention of the farmers of the Constitution, is not in doubt. Federal character is intended to promote national unity, and also command national loyalty, and ensure that there shall be no predominance of persons from a few ethnic or other sectional groups in that Government.

It is conceded that the federal character principle in Section 14 falls under the Fundamental Objectives and Directive Principles of State Policy contained in Chapter II of the Constitution, which is non-justiciable. It is non-justiciable because, it cannot ordinarily be enforced in a court of law. This is because by virtue of Section 6 (6) (c) of the Constitution, the judicial powers of the courts shall not extern to any issue or question as to whether any act or omission by any authority or person, is in conformity with the Fundamental Objectives and Directive Principles of State Policy set out in Chapter II of the Constitution. This position was reaffirmed by the Supreme Court in the case of ATTORNEY GENERAL OF ONDO STATE v ATTORNEY GENERAL OF THE FEDERATION (2002) 9 NWLR (PT.772) 222.

However, there are instances where the principles enunciated and provided for in Chapter II will be justiciable. One of such instances, is where the Constitution itself makes a principle in Chapter II justiciable. Another instance, is where the National Assembly enacts a law to guarantee the justiciability of a given matter or item in Chapter II. See the case of AG Ondo State supra and Section 4(2) read along with item 60 (a) Part 1 of the Second Schedule to the Constitution on the exclusive legislative power of the National Assembly to enact a law for the enforcement and justiciability of Chapter II. I have already posited in this piece, that Senator Shettima is constitutionally eligible to be nominated for election to the office of the Vice President. I also espoused that the gravamen of the argument, is not about his constitutional qualification.

Has APC Breached the Principle of Federal Character?

The question begging for answer therefore is, has the APC in any shape or form contravened the Constitutional principle of federal character by opting for Muslim-Muslim Presidential Candidacies, in defiance of federal character and the established political tradition practised since the birth of the Fourth Republic in 1999?

The answer to this poser is not a simplistic cont'd on page X

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APC and the Insensitivity of a Muslim-Muslim Ticket cont'd from page IX

one. However, a community reading of the provisions of Sections 14, 15, 131 (c), 142 (2), 221, 222 (b) and 224 of the Constitution offers not only clarity, but a definitive answer on whether the Muslim-Muslim presidential candidacies adopted by the APC is inconsistent with the spirit and letters of the Nigerian Constitution, particularly as it relates to federal character. I shall now examine the said provisions in brevity.

Section 15 of Chapter II contains the Political Objectives of the country and subsection 2 thereof states that “…national integration shall be actively encouraged, whilst discrimination on the grounds of place of origin, sex, religion, status, ethnic or linguistic association or ties shall be prohibited.” Subsection 4 of Section 15 similarly states that “The State shall foster a feeling of belonging and of involvement among the various peoples of the Federation, to the end that loyalty to the nation shall override sectional loyalties.”

By virtue of Section 221 of the Constitution, only a political party can canvass for votes for a candidate. The combined effect of Sections 131(c) and 142(2) of the Constitution, makes it imperative for any person seeking the office of President and Vice President to belong to a political party and be sponsored by that political party. Section 222(b) provides that no association by whatever name called, shall function as a political party unless “the membership of the association is open to every citizen of Nigeria irrespective of his place of origin, circumstance of birth, sex, religion or ethnic grouping.”

Lastly, Section 224 of the Constitution provides that the Aims, Objectives and Programme of every political party must conform to the provisions of Chapter II of the Constitution. As earlier contended, Sections 14(3) and 15(2) and (4) of the Constitution, fall under Chapter II. I also stated earlier that while Chapter II is not ordinarily justiciable, it becomes justiciable where the Constitution itself (in another provision) creates an exception for justiciability.

In the instant case, the APC as a political party, has an obligation to conform to the Fundamental Objectives and Directive Principles of State Policy in Chapter II of the Constitution, including the federal character principle under Section 14 and the political principles in Section 15 which mandates that “…national integration shall be actively encouraged, whilst discrimination on the grounds of place of origin, sex, religion, status, ethnic or linguistic association or ties shall be prohibited”, and to also foster a feeling of belonging and of involvement among the various peoples of the Federation, to the end that loyalty to the nation shall override sectional loyalties.

The next question that all Nigerians of good conscience must answer with honesty is: has the Muslim-Muslim presidential candidacies of the APC breached the federal character principle? Put differently, has the APC, by nominating Presidential and Vice Presidential candidates from the same faith promoted national integration, national unity and national loyalty, or has it promoted disunity, sectional loyalty and disintegration?

From all that we have witnessed since Shettima’s nomination was made public, it should not be difficult to reach a conclusion that the APC has violated the federal character principle.

It amounts to intellectual duplicity, to argue that religion is not an integral part of the federal character of Nigeria. In 2015, the APC rejected Muslim-Muslim ticket because it violated the federal character principle. If the APC no longer believes in federal character, the starting point should be for the Party to propose a Constitutional amendment to expunge federal character from the Constitution. Quota system should also be abrogated. Until this is done, it is mischievous and dubious for the APC to blatantly ignore the duty imposed on it by the Constitution to conform to federal character, under the ridiculous pretext that it nominated Muslim-Muslim candidates based on “competence.”

Without federal character, Buhari would not be the President today. Bola Tinubu is the

Ogedi Ogu

Presidential candidate of the APC, partly because of federal character. Zoning is a product of federal character. Those who seek to exclude religion from their interpretation of federal character, are doing so dishonestly. If there is nothing wrong with Muslim-Muslim ticket, then there should be nothing wrong with Christian-Christian ticket, North-North ticket or East-East ticket.

Politics and democracy have seen said to be about numbers. But, politics and democracy in a heterogeneous country like Nigeria, must be deliberately tailored to foster a sense of inclusion and national integration. That is why the federal character principle is enshrined in the Constitution. Representation is an indispensable ingredient of democracy.

Those who keep retorting that Nigerians who are not comfortable with the decision of the APC should focus on their preferred political parties, should reread the constitutional provisions enunciated above, including Section 224 which imposes a duty on all political parties to adhere to federal character. It smacks of arrogance and crass insensitivity, to dismiss the legitimate views of those who are justifiably disenchanted by the destructive and dangerous politics of identity and exclusion that the APC has now fully embraced.

Conclusion There is a reason why the framers of the Constitution made it mandatory for the membership of all political parties, to be open to people of all religions. It is to ensure that all religions are treated fairly, in the ‘distribution’ of leadership positions in the country. It is to ensure that a political party, does not operate in a sectarian manner. It is to prevent a political party from projecting itself as a Muslim Brotherhood, or as a Christian Brotherhood, or as a brotherhood for African traditional worshippers.

Since the APC has chosen a sectarian and divisive path, it is left for the Nigerian electorate to determine whether the path chosen by the APC is in the best interest of Nigeria, bearing in mind the multi-religious and multi-ethnic character of Nigeria, and vote accordingly in 2023.

Given the unpardonable mismanagement of Nigeria’s diversity, and the grievous damage that President Buhari and the APC have inflicted on this country in the last seven years, one would have expected the APC to

“The North does not consider a Yoruba Muslim qualified enough to be the Muslim in a MuslimChristian ticket. And, the Muslim Yoruba must therefore, admit same, act and show his nonqualification as seen and held by the North, by picking a fellow Muslim from the North to be so qualified”

read and respect the mood of the nation and be circumspect, and not resort to desperate political gimmicks and divisiveness that will further polarise our country. Shamefully, the APC decided to remind us that allowing it to assume power in 2015, remains a tragic mistake of history.

Inibehe Effiong, Legal Practitioner and Human Rights Activist, Lagos

Muslim-Muslim Ticket, How to Lie to Ourselves!

Ogedi Ogu In all our deliberations, we should not lose touch of the peculiarities of our God given country.

Elsewhere, Political Leaders resign willingly on grounds of incompetence or loss of confidence by the citizenry.

Does it Happen Here?

Here, it is a 'crime' to enquire into the health status of someone aspiring to lead your country.

Here, it is right to prevent someone seeking your vote, from facing the press and speaking to his candidacy.

Here, it is forbidden to enquire as to the source of wealth of someone aspiring to be your President.

Here, it is a crime to enquire as to the true identity, age and qualifications of Presidential candidates. In the countries you refer to as countries that do not mind ethnicity and religious lines, it is a given.

In those countries you may wish to cite, voting counts. Does it count here?

This is why it is always bad argument to use the USA and Europe, as examples in things like this. Nigeria has been polarised along ethnic and religious lines; yet, we think there is nothing wrong with having the two most important offices occupied by persons of same faith, in today's Nigeria!

Worrisome We should be worried about why the North cannot trust a fellow Northerner of the Christian faith. In other words, that the North would not vote-in the APC, if a Christian Northerner is taken as Vice President. But, it is forbidden for a Christian to feel bad about a Muslim-Muslim ticket. I mean, the Christians should feel comfortable with Muslim-Muslim ticket. But, it is right and legal for the North not to be comfortable with Muslim-Christian ticket. Even though the Christian is from the same North.

So, why are we all avoiding the truth...the North does not consider a South Muslim, Muslim enough. You still don't get it? The North does not consider a Yoruba Muslim qualified enough to be the Muslim in a Muslim-Christian ticket. And, the Muslim Yoruba must therefore, admit same, act and show his non-qualification as seen and held

by the North, by picking a fellow Muslim from the North to be so qualified.

I read somewhere, obviously from one of those platforms projecting and trying to justify the ticket, that there is nothing wrong with it, that after all, the power resides in the President and not in the Vice. Waoh!!! What a smart analogy.

So, then, why couldn't a Northern Christian VP be allowed to deputise the Southern Muslim President, hence as reasoned, power will reside in the Muslim President and not in the Muslim Vice President ?

That a man who told us he jettisoned deputising on a Muslim-Muslim ticket in the interest of the country in 2015, could, in 2022, be the one championing and leading a Muslim-Muslim ticket should not be of concern to Nigerians? So, the unity of the country matters not, but his personal ambition on the table of which he has now offered to sacrifice the unity of the country he claimed he once believed in.

Pretence Nigeria, at all times must be construed to ensure justice, fairness and equity. Because, this is the only way we can, as a nation, manage a semblance of accountability.

But, let us continue to pretend that it means nothing, even though we understand that that is by a Party with the power of incumbency, a major political party, a Party with one of the clearest chances and possibility of influencing the election.

Let us continue to pretend that the youths will have access to the collation centres. Let us continue to pretend that every single vote will count. Let us continue to pretend that in Nigeria, when they say 'structure' and 'capacity', it does not actually mean ability to influence and rig elections.

This is just a test of the micro phone, soon we'll see a North/North ticket and there's nothing you'll do about it, after all the essence is to win the election. Just same way we were told that, competency was what informed the appointment of heads of security agencies from one section of the country. Today, we have seen the competency and the true idea behind such appointment.

Lie to Yourself You can lie to yourself, by pretending that the existence of a fact is in itself a lie! You can lie to yourself, by pretending that you do not know that Nigeria has been polarised along ethnic and religious lines. You can even lie to yourself, by pretending that the Nigeria of today is the same of 1993 or even 2015. You can lie to yourself, by pretending that competence can only be found in a particular ethnic group or religion.

You can even successfully lie to yourself by saying that Nigerians should not feel concerned over Muslim-Muslim ticket, after all, there are other parties to choose from, even though you know you would be more discomforted if he had taken a Northern Christian Vice Presidential candidate.

Ogedi Ogu, Resident Director, Advocacy For Justice & Accountability (AJA)

19.7.2022

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T H I S D AY ˾ TUESDAY, JULY 19, 2022

23

BUSINESSWORLD R A T E S MONEY MARKET

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

08056356325

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0.44%

With Current 4,000Mw, Nigeria’s Plan to Grow On-grid Power to 45,662Mw Remains in Doubt

Emmanuel Addeh in Abuja Nigeria’s plan to generate 45,662 megawatts on-grid electricity by 2030 remains in doubt, with just eight years to the ‘magic’ year, given the current generation of 4,000Mw or less on some days.

Latest industry documents obtained by THISDAY indicated that if Nigeria is to experience a marked increase in supply today, it must grow on-grid power to at least 17,556Mw currently, although it is only able to achieve about 20 per cent of that for now.

For instance, the documents which provides an overview of

the current state of the sector showed that available capacity of Generation Companies (Gencos) connected to the grid increased by a meagre 1,425Mw from 6, 175Mw since 2015, growing to just 7,600Mw in the last seven years.

Going by that growth pattern, it could take over two decades to hit the projected 45,662Mw, given that the government has spent trillions to ramp up supply nationwide to even achieve the modest rise in capacity.

THISDAY recalls that the Federal Executive Council (FEC) approved the Power Sector Recovery Plan (PSRP) in March 2017 and made

further amendments in 2019 with strategies to phase-out federal government support to the electricity market by end of 2021.

The federal government further provided a Payment Assurance Facility (PAF) of N701 billion to ensure generation companies are paid to maintain operations for the period 2017 to 2018 in view of insufficient remittances by Distribution Companies (Discos) due to non-cost-reflectivity of tariffs.

The federal government also approved an extension of the PAF by N600 billion subject to the accountability framework that include provisions for Minimum

Remittance Requirements as contained in the successive Tariff Orders.

In addition, the government is currently finalising negotiations to secure a $3 billion loan with the World Bank to support the PSRP. “Available capacity is far still less than the required capacity to meet current energy demand from the on-grid estimated at 17,556MW in 2020 and expected to grow to 45,662MW by 2030,” the data showed.

It further indicated that the actual generation averaged 4,223MW in 2021, which is significantly less than the available capacity 7,600

for the period.

According to the data, the capacity utilisation rate in the Nigerian Electricity Supply Industry (NESI) remained low at only about 54.57 per cent of the available capacity as of 2021 due to technical and operational constraints from gas shortage, transmission and network constraints and commercially induced low load offtake by Discos.

This year alone, the national electricity grid has collapsed at least five times with its associated disruptions to commercial and social activities.

Power supply in the country has always been erratic, although

it has gone worse in recent times, with hope waning as to whether the Muhammadu Buhari-led administration will be able to make any marked difference in the remaining months.

But to improve on the current status of the sector, on July 1, the Nigerian Electricity Regulatory Commission (NERC) commenced the process of gradually activating the NESI contracts to provide certainty to the minimum volume of energy and properly allocate risks among the industry operators. The move has somehow marginally increased Continued on page 25

World Bank, FAO, Others Call for Urgent Action to Address Global Food Security Crisis Gilbert Ekugbe The World Bank Group, the Food and Agriculture Organisation, (FAO), International Monetary Fund (IMF), World Food Programme, (WFP) and World Trade Organisation (WTO), have called for urgent actions to address the global food security crisis.

The Director General of the WTO, Dr. Ngozi Okonjo-Iweala, said that the COVID-19 pandemic’s interruption in international supply

chains, and the war in Ukraine have severely disrupted food, fuel, and fertilizer markets, which are interlinked.

Okonjo-Iweala maintained that

by June 2022 the number of acute food insecure people, whose access to food in the short term has been restricted to the point that their lives and livelihoods are at risk, has increased to 345 million in 82 countries according to WFP. She added that around 25

countries have reacted to higher food prices by adopting export restrictions affecting over 8.0 per cent of global food trade.

She added that the food supply has been complicated by the doubling of fertilizer prices over the last twelve months, reflecting record-high costs of inputs such as natural gas while global stocks, which steadily increased over the last decade, need to be released to bring prices down.

“All this is happening at a time

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when fiscal space for government action is already severely constrained following the COVID-19 pandemic.

Beyond the short term, climate change is structurally affecting agriculture productivity in many countries,” she lamented.

She highlighted four key areas to achieve the Sustainable Development Goals (SDGs) in the short and longterm actions to include providing immediate support to the vulnerable, facilitating trade and international

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supply of food, boosting production and investing in climate-resilient agriculture.

“They should be replaced with cash transfers that reach only the most vulnerable. Over time, effective social protection systems may be expanded to cover more people.

The best systems include strong targeting and efficient enrollment, delivery, and payment systems, often leveraging technology,” the report added.

The WTO boss advocated that in the short term, releasing stocks as appropriate and consistent with WTO rules, and finding a diplomatic solution to evacuate the grains and fertilizers currently blocked in Ukraine, would help to address availability and affordability of food supplies.

She added that facilitating trade and improving the functioning and resilience of global markets for food and agriculture, including cereals,

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N720,000 – N740,000

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N8,500

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N8,500

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N23,000

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N17,000

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N700,000 – N720,000

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24

TUESDAY, JULY 19, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L–R: Head od Projects, HEREL Global, Mr. Osemudiamen Ogbeide;Executive Director, Operations, Ms. Chioma Esike;Executive Director, Marketing and Partnerships, Ms. Deola Aromiwuura;Managing Director, Mr. Olaposi Lawore; and Head, Business Development, Mr. Olatade Daranijo, at the HEREL Global seminar on Project Management, Design and PHOTO: ETOP UKUTT Sales held in Lekki, Lagos… recently

FG, Edo State Partner to Curtail Spread of Tranboundary Animal Diseases Gilbert Ekugbe The Federal Ministry of Agriculture and Rural Development (FMARD) is partnering with the Edo State Government to curtail the spread of trans-boundary diseases in Nigeria.

The Minister of Agriculture and Rural Development, Dr. Mohammad Mahmood Abubakar, said that the ministry has supported Edo State and other states in the South-south geo-political zone with over 1.8 million free vaccines to combat the spread.

Abubakar revealed this during the flag off ceremony of 2022 Nationwide Free Mass Vaccination Campaign against Trans-boundary Animal Diseases in Benin, Edo State, recently.

He said that the Trans-boundary Animal Diseases (TADs) such as Contagious Bovine Pleuropneumonia (CBPP), Foot and Mouth Disease (FMD), Peste Des Petits Ruminants (PPR) and Newcastle Disease (ND) are affecting the livestock population and could be adequately managed with vaccination.

The minister, who was represented

by the Permanent Secretary, FMARD, Dr. Ernest Umakhihe, stated that livestock production is a major means of livelihood in Nigeria.

He added that livestock is a source of protein for growth and mental development of our children, spendable income and the by-products from these animals like hides and skin are used for the production of belts, shoes among other things.

In his words: “Over the years, the policy of CBPP, FMD, PPR and ND control in Nigeria has

been routine annual vaccination; However, the vaccination coverage has been limited by inadequate resources. But going forward, we intend to scale up vaccination coverage as more resources become available.”

In his welcome address, the Acting Governor of Edo State, Mr. Philip Shaibu, who was represented by the Edo State’s Commissioner for Agriculture and Food Security, Mr. Stephen Idenhere commended the effort of the federal government through

the FMARD in controlling animal diseases across the nation.

Shaibu said: “I called on all states within the South-south region, to join hands in the battle as animal disease control is a collective responsibility.

“This synergy would go a long way in enhancing livestock production in the zone thereby improving the socio-economic status of the rural dwellers.”

He revealed that Edo State Government had keyed into the Livestock Productivity and

Resilience Support (LPRES) project of the FMARD and ECOWASPACBAO, which were aimed at improving livestock production and curbing farmers/ herders clashes.

In his good will message, the Permanent Secretary of Cross River State Ministry of Agriculture and Natural Resources, Mr. Jacobs Udida, commended the federal government’s initiative towards the Free Mass Vaccination Campaign against Trans-boundary Animal Diseases

and for providing Primary Health Center, which would go a long way to improve Animal Health.

In her remarks, the Director, Federal Department of Veterinary and Pest Control and Chief Veterinary Officer of Nigeria, Dr. Maimuna Habib, said that the ministry would continue to support and collaborate with states to ensure the good health of livestock in Nigeria through the provision of vaccines, trainings, disinfectants and veterinary drugs as much as possible.

G20 Urged to Support FAO’s Initiative to Reduce Food Import Bills Gilbert Ekugbe The Food and Agricultural Organisation (FAO) has urged the finance ministers and central bank governors of G20 countries to contribute to the fund that would help to reduce the food import bills of 62 most vulnerable countries amid the current global food security crisis.

The Director General of FAO, Mr. Qu Dongyu, stated that the food import bill for 62 nations he described as net food importers in the low and

the lower middle-income groups, has increased to $24.6 billion and affecting 1.79 billion people.

Dongyu said that the Food Import Financing Facility (FIFF) that was proposed by the FAO earlier this year would assist countries in financing their food purchases and minimise any risk of social unrest.

He said: “With your support, it could be implemented by the leading multilateral financial agencies under their balance of payments financial mechanism.”

He noted that the FIFF is also aimed at increasing global agricultural production and productivity in a sustainable way and would be strictly based on urgent needs and limited to low and lower middle-income net food-importing countries.

“In addition, the FIFF is designed to increase future resilience by asking eligible countries to commit to invest more in sustainable agri-food systems,” he added.

Highlighting data from the latest edition of the State of Food

Security and Nutrition in the World (SOFI) by FAO and its partners, Qu noted that up to 828 million people suffered chronic hunger in 2021, maintaining that the figure is an increase of 46 million from 2020 and 150 million from 2019, before the COVID-19 pandemic.

He said: “Around 2.3 billion people in the world were moderately or severely food insecure in 2021 - 350 million more people compared to 2019.

“These stark figures represent

the picture before the outbreak of the war in Ukraine, which has compounded the situation particularly for the poor and most vulnerable. The Russian Federation and Ukraine are important players in the global food and fertilizer markets and the war has multiple implications affecting trade, prices and livelihoods.

“These factors will continue to impact on food security and nutrition for many countries in the months and years to come,” he warned.

Report: PIA Implementation May Negatively Impact Govt Revenues Emmanuel Addeh in Abuja

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)

When it becomes fully operational, the new Petroleum Industry Act (PIA) may significantly reduce government’s revenue and in fact result in a cut in remittances by the Nigerian National Petroleum Company Ltd (NNPCL), a policy brief by OrderPaper, has hinted.

The brief aimed at Mainstreaming Fiscal Responsibility in Nigeria’s

Petroleum Sector, released in Abuja by the organisation which has the objective to improve revenue remittance and transparency in the oil and gas sector, added that the new PIA also has some drawbacks.

“Although the PIA has several good initiatives, there are drawbacks related to revenue mobilisation into the central pool of government.

“The law has serious implications for the public finances of the federation.

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Emmanuel Addeh in Abuja The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Ogbonnaya Orji, has announced that a roadmap on Nigeria’s engagements in the energy transition programme will be unveiled soon.

Speaking in Abuja at a workshop

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held by NEITI in collaboration with Natural Resource Governance Institute (NRGI) based in the United States, Orji explained that the roadmap will contain information and data to drive the implementation of the government’s overall energy transition plan recently approved by the Federal Executive Council (FEC).

The NEITI chief executive also

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disclosed that the workshop was organised to seek the views and advise of NEITI’s board and senior management team as well as the collaboration of the NRGI in relation to the subject matter.

“The transition from carbon-based energy to renewable energy has farreaching implications for the global economy, particularly Nigeria. The

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At the event, one of the speakers, who is an Oil and Gas Governance expert, Mr. Henry Adigun, noted that the failure by the federal government to implement in full the provisions of PIA was already hurting the oil and gas industry.

In his remarks, Executive Director, OrderPaper, Oke Epia, noted that the brief examined the extant fiscal responsibility instruments as they relate to the petroleum sector.

“This is because the sector is not only the mainstay of the economy and major foreign exchange earner but also the pivot upon which diversification and economic growth and development should stand,” he added.

Epia said that the PIA was supposed to reform administration and revenue remittance but that had not happened, noting that, “These are the issues that led GIFT Nigeria to commission the study.”

NEITI to Unveil Roadmap on Energy Transition, Plans National Dialogue

FOOD NAME OF COMMODITY

For instance, the reduction in remittance of collectables by the NNPC Ltd will result in a considerable reduction in revenues available for service delivery by the government,” it stated.

The brief was authored by the OrderPaper with support from United States Agency for International Development (USAID) and Palladium and supported by the Growth Initiatives for Fiscal Transparency (GIFT) Nigeria Project.

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implications for Nigeria, a highly natural resource revenues dependent country, are very huge, especially with regard to energy security, citizens livelihood, job opportunities and economic development,” he noted.

The Chairman of the NEITI Board, Mr. Olusegun Adekunle, in his remarks, reaffirmed the commitment

of the board to provide NEITI with the required policy direction that aids the development of the road map.

He described energy transition as the future of the industry and charged workshop’s participants to take advantage of the programme to build their skills and improve their knowledge on energy transition.

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T H I S D AY ˾ TUESDAY, JULY 19, 2022

25

BUSINESSWORLD

OIL AND GAS

Re-examining Nigeria’s Oil Theft Conundrum The Nigerian economy is currently gasping for breath and in search of rescue owing to the surge in oil losses resulting from activities of oil thieves and their collaborators. More than anytime in the nation’s over 60 years oil production history, the current menace has reached an alarming and unprecedented level and therefore demands urgent attention, writes Peter Uzoho

I

t keeps getting worse by the day for Nigeria’s oil and gas industry, particularly the operators in the upstream, including exploration and production companies, oil majors and independent producers alike.

The cases of oil theft, pipeline vandalism and sundry attacks on oil assets in the Niger Delta by oil thieves who also embark on illegal bunkering, are taking a heavy toll on not only the operators but on the nation’s economy and community development among others.

Many stakeholders had raised the alarm on the massive losses being incurred on a daily basis and the danger of such on future investments in the industry.

The gale of divestments by the international oil companies (IOCs), which has been intense in recent times, is not unconnected to the oil theft menace. The oil majors have always complained that their cost of operation has ballooned and no longer bearable as a result of many security issues they have to deal with.

Figures of oil losses resulting from the menace, which are being reported by the authorities and the companies have reached an alarming rate that should ordinarily elicit concern, worry and deployment of systematic measures to tackle it.

Some concerned industry operators and policy experts had at many fora and at different times called for the designation of oil theft in the country as a national security emergency so as to collaboratively and holistically solve it.

Many had suggested the subjecting of the issue to a forensic and independent judicial inquiry so that everything and everyone involved in the matter will be unmasked, the actual volumes determined and a detailed action plan produced for a lasting solution.

For instance, a former board member of the Nigerian Extractive Industries Transparency Initiative (NEITI) and current Managing Partner at ENR Advisory, Mr. Gbite Adeniji, wondered why the federal government had not been able to subject the massive oil losses and attendant negative impact

on the nation’s economy to an independent judicial inquiry to ascertain the cause and address the menace.

“Why has such a monumentally significant event not been subjected to an independent judicial inquiry to allow the country and the administration to fully understand the remote and the immediate cause of the loss of production of our economic oxygen.

“More also, given its wider applications for national and political security, it’s a big issue, this is a big deal. You cannot lose half of your oil production and just move on,” Adeniji said at a recent function.

IOCS, OTHERS EXPRESS FRUSTRATIONS

Being the most hit by the oil theft challenge owing to the huge investments they had made, the IOCs including Shell, Chevron, TotalEnergies, and ExxonMobil recently made a joint expression of their frustration over the escalating oil losses in the Niger Delta.

Speaking at a panel session at the just concluded Nigerian Oil and Gas Conference and Exhibition (NOG) 2022 in Abuja, the Managing Director of Shell Nigeria Limited, Mr. Osagie Okunbor, said the high oil losses caused by crude theft had resulted to Nigeria’s daily oil production declining from 1.8 million barrels per day in the last five years to just a little over 1 million bpd.

“In three to five years, we were bought from 1.8 million barrels a day to a little over 1 million barrels a day and frankly, most of that comes out of deepwater,” he said.

Okunbo also warned that the new marginal field licensees that will be operating Shell’s Oil Mining Lease (OML) 53 and 57 will experienced difficulties evacuating their products.

“So, our OML 53 and 57 marginal field licensees depending on how quickly they can bring production on stream, those who are on land, swamps and shallow water, evacuation

is going to be an issue. So it’s an existential issue for us,” the Shell chief executive stated.

He pointed out that two of the most important oil pipelines in the country were currently shut down with hundreds of thousands of barrels a day shut-in.

Okunbor said: “We need to address it. If we don’t address it, we can do all the new oil developments, that will continue to occur. But what is really going to move the needle for us in terms of bridging this gap of hundreds of thousands of barrels a day is solving the evacuation problem.”

Similarly, Managing Director of Chevron Nigeria Limited and Chairman of the Oil Producers Trade Section (OPTS), Mr. Rick Kennedy, said while the industry stakeholders collaborate to fine-tune the Petroleum Industry Act (PIA) in a manner that offers encouragement to all players, it was also imperative for the oil theft challenge to be addressed by all parties.

“There is need for an unprecedented level of collaboration and partnership across industry, with the regulators, with the ministry and with the Nigerian National Petroleum Company (NNPC).

“And I think that will do us well going forward as we all take on the challenges ahead of us, including the high crude theft that we are going through. Let’s just carry on that collaborative mindset and ensure we address these challenges,” Kennedy said.

Executive Director at ExxonMobil Nigeria, Mr. Oladotun Isiaka, who represented the Managing Director, Mr. Richard Laing, said stakeholders should work together to tackle the oil theft challenge as it was impacting negatively on investments in the upstream sector.

Isiaka said: “I’m looking at this through the lenses of our own operations. And I see two things; when you talk about production, there are two variables in there. There’s capacity and there’s downtime. So security and the

downtime aspect, and I agree it is existential.

“But when you talk about capacity, the key word I want folks to take away is the perspective of investment. So I just didn’t want the discussion to end there. There’s investment to drive the capacity.

And then there’s the downtime aspect, which comes along with the crude losses”.

In his intervention, Managing Director of TotalEnergies EP Nigeria Limited, Mr. Mike Sangster, said crude oil theft had become an organised crime which was costing Nigeria about $10 million daily in accrued revenue.

He noted that the PIA had made provision for the Host Community Trust Fund which was a step in the right direction to empower the local communities and ensure a clear and consistent framework across the industry.

Sangster, however, warned that the host community provisions would not put an immediate end to the activities of crude oil thieves and pipeline vandals, which, he noted, had transcended into an organised crime and disrupting the operations of oil and gas companies.

He urged the government and industry stakeholders to find a lasting solution to the issue of vandalism in order to make Nigeria an investment destination for oil and gas companies.

IMPACT ON GDP

While the government’s revenues suffer the impact of the oil losses to theft, the country’s Gross Domestic Product (GDP) also feels the impact.

According to the Group Chief Executive Officer of Oando Plc, Mr. Wale Tinubu, the oil production decline has led to 7 to 10 per cent reduction in Nigeria’s GDP. Noting that the decline in the nation’s production was alarming, Tinubu pointed out that there had been 43 per cent reduction in the production from March 2022 to May 2022.

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

WITH CURRENT 4,000MW, NIGERIA’S PLAN TO GROW ON-GRID POWER TO 45,662MW REMAINS IN DOUBT supply to some Nigerian homes this month.

A plan last year to ensure supply of an average generation of 5000Mwh/h by July 1, 2021, did not come to fruition, although it would have helped to meet tariff assumptions and migration of customers to higher bands as well as improve supply of gas

and predictable dispatch by Gencos.

It was also geared toward securing available generation capacity of at least 6,000Mw by January 2022, improve capacity offtake by Discos, create certainty in the gas-power market segment through contracting and grow the electricity market in line with transition requirements.

If fully operational, the document showed that the upside of reliable power supply aside encouraging investment and small businesses could lead to crime reduction.

In addition, it drew a positive correlation between power supply and economic growth, noting that Lagos, the 5th largest economy in Africa is currently allocated more

than 20 per cent of Nigeria’s total available grid capacity.

Before now, Nigerians had expressed high hopes that the national grid could at least deliver up to 10,000Mw of electricity by 2023 and ameliorate the decades of inadequate and unreliable power supply.

But as it is, added to the problem

of capacity, that target is now under serious threat as the national power assets have become objects of attack in various parts of Nigeria.

This year alone, aside gas lines supplying the fuel to thermalpowered facilities, there have been direct strikes on assets run by the Transmission Company of Nigeria (TCN) for which innocent consumers

have suffered the consequences.

But the document noted that although all the objectives of the Nigerian power sector reform are yet to be fully realised arising from a number of structural, regulatory and policy missteps two decades after the commencement of the reform process, substantial progress can be said to have been achieved.

WORLD BANK, FAO, OTHERS CALL FOR URGENT ACTION TO ADDRESS GLOBAL FOOD SECURITY CRISIS fertilizers and other agriculture production inputs are key, as outlined in the WTO Ministerial Declaration on the Emergency Response to Food Security.

Okonjo-Iweala averred that, “the 2008 crisis taught us that imposing global trade restrictions leads directly to increases in food prices.

Removing export restrictions and

adopting inspections and licensing processes that are more flexible help minimize supply disruptions and lower prices. Increasing transparency through notifications to the WTO and improving the monitoring of trade measures will be critical.”

Meanwhile, stakeholders have stressed the need for urgent action to encourage farmers and fishers to

boost sustainable food production in both developing and developed countries and improve the supply chains that connect them to the world’s eight billion consumers is needed.

“This would require affordable fertilizers, seeds, and other inputs through the private sector as the primary actor in these markets.

Providing working capital for competitive producers is also a key priority. Looking forward, disseminating best practice knowledge by FAO, WBG, and others will be key to increasing efficient fertilizer use through the rapid deployment of soil maps, extension services and precision agriculture technology. This will

provide producers with the necessary know-how crucial for maintaining production levels and promoting sustainable use of natural resources.

“Supporting resilient investments in agricultural capacity and providing support to adaptation, smallholder farms, food systems and climatesmart technologies are essential to develop a resilient climate-smart

agriculture that would ensure steady production in the years to come. Work on norms and standard-setting for food safety and on value chain infrastructure (storage facilities, cooling facilities, banking infrastructure and insurance infrastructure) is also important to increase access and reduce inequality, “they said.

26

TUESDAY, JULY 19, 2022 ˾ T H I S D AY

BUSINESSWORLD

ENREGY

Tidying Up Nigeria’s Power Transmission System Emmanuel Addeh writes that transmission, which is one of the tripod on which Nigeria’s electricity supply system rests, could be up for good news soon with the federal government’s renewed focus on ramping up infrastructure in the wholly government-owned outfit.

T

here have been several complaints as to how weak the country’s power supply system has become, from generation to transmission and then to distribution.

But it would appear that there are ongoing efforts to boost the wheeling power of the sector with the ongoing projects around the country, which are capable of increasing supply markedly in the first instance.

This is against the backdrop that the federal government has harped on raising national electricity supply to about 5,000 mw, with the recent binding contracts among the industry operators.

Already, as part of the new lease of life, the Transmission Company of Nigeria (TCN) has pushed forward with the construction several lines, including new 330 and 132 kilovolts (kV) transmission lines and the upgrade of existing ones spanning over 3,306 kilometres.

An analysis of various transmission project reports shows that the transmission lines upgrade and constructions cut across the six geopolitical zones.

While the South-west has 518km power transmission lines projects that have either been delivered or are ongoing, the South-east has 573km length of projects while the Southsouth has 476km span of power transmission projects.

In the same vein, the North-west has 1,204km of delivered and planned projects just as the North-central has 250km length of project and the North-east has a 285km planned project.

To be sure, the TCN operates one of its two licences obtained from the Nigerian Electricity Regulatory Commission (NERC) as the Transmission Service Provider (TSP) for the Nigerian power sector.

This mandates it to provide the transmission infrastructure to evacuate bulk power from the Generation Companies (Gencos) to all the Distribution Companies (Discos) load centres nationwide.

With the transmission lines traversing over 20,000 kilometres in the country and extending to Niger Republic and the Republic of Benin,

the TCN is mandated to build either 330/132kV transmission substations or 132/33kV substations at various locations where the 330kV and 132kV lines drop in.

The bulk electricity from such facility is thereafter supplied a Disco’s interface to get to the final consumers in that location.

In all, there are over 800 of such power transmission substations with the Discos’ interfaces in Nigeria.

Secondly, TCN operates another licence from NERC for the Independent System Operations (ISO) which mandates the sole transmission utility firm in Nigeria to operate and manage the national electricity grid.

A RASH OF INFRASTRUCTURE With the renewed focus to clean up the transmission part of the tripod, several projects are now ongoing. Among them

are the 518km transmission projects in the South-west, including the “reconductored” Ikeja West – Alimosho – Ogba – Alausa 132kV transmission line on an estimated 20km distance within the heavily populated Lagos capital.

The project, after completion, raised the bulk power delivery to Discos within Lagos and Ogun state to 240MW from the previous 120MW, representing a 100 per cent increase in transmission efficiency.

Similarly, the Ikorodu (Lagos) to Shagamu (Ogun) 132kV transmission line has been constructed, raising the conductor strength from 150mm2 single circuit to 250mm2 double circuit line, leaving the 35km line better strengthened for maximum power output for the industrial areas around the environs.

Furthermore, in January 2022, the government company reconstructed five

burnt transmission towers and restrung the 330kV Ikeja West to Akangba transmission line spanning 17km; the line was affected by fire from a vandalised pipeline.

The Senior Manager, System Lines at the Akangba sub-region of the TCN Lagos region, Emmanuel Kuye, said the transmission line was back to service in less than one month after the incident.

The company also constructed a new transmission tower in Ajah and strung an old 330kV line and a new 330kV line on the 76km Egbin to Ajah transmission line route in Lagos this year.

Under the Ogun-Lagos Transmission Project being funded by the Japanese International Cooperation Agency (JICA), TCN says it has progressed on the procurement process of building six substations and their associated 330kV and 132kV transmission lines to further service the Lagos-Ogun industrial hub.

The company adds that it has already completed the payment of compensation for the substations’ land and the right of way for the 90km stretch of transmission lines.

Still in the South-west, the Executive Director, Transmission Service Provider at TCN, Victor Adewumi, during an inspection visit said a 330kV transmission line from Osogbo in Osun state to the new 330/132/33KV Akure substation in Ondo state will be ready in the next five months.

“The 107km transmission line will bring 96MW of electricity from the substation to increase power supply in Ondo and Ekiti state. Also, another 330kV transmission line covering 173km distance is being constructed from Akure to Ihovbor (Benin) in Edo state,” he stated. A further breakdown for the South-east with 573km projects shows that the contract has been awarded and contractors mobilised for the upgrade of the Onitsha (Anambra) to New Haven (Enugu) 330kV transmission line.

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

REAL ESTATE

Blazing the Trail in Nigeria’s Real Estate Industry Purple Group is one of Nigeria’s fastest growing real estate and financial services platforms, undertaking breath-taking real estate investment in the economy. Its recent deal with The Ascott Limited and plans to raise about N30bilion from the capital market as well partnership with Bank of Industry and other major financial institutions in the country to launch PurpleLekki by the end of this year, are expected to take the company to new heights. Ayodeji Ake writes

P

urple Group is Nigeria’s institution at the forefront of real estate investment in the country. The Lagos-based multi-dimensional company is reputed for investment in the development, management, and acquisition of superior multi-purpose properties and infrastructure across a wide range of sectors to democratise access to real estate ownership and investment, breaking down the barriers that prevent investors from the gains of appreciating assets.

STRATEGIC PARTNERSHIPS

Purple is currently executing a deal with Bank of Industry & Keystone Bank, its partners in the public and private sectors, for the completion of PurpleLekki, situated in Lekki Phase 1, Lagos.

Besides, Purple, a real estate investor, has a strategic partnership with The Ascott Limited, an international iconic brand, to deliver Nigeria’s first professionally managed short and long stay. The Ascott Limited (Ascott) is a Singapore company that has grown to be one of the leading international lodging owner-operators. Ascott’s portfolio spans more than 190 cities across over 30 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA. Ascott has more than 70,000 operating units and about 51,000 units under development, making a total of more than 121,000 units in over 770 properties. Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track

record and award-winning brands that enjoy recognition worldwide.

FUNDING

Just before the new partnership with The Ascott Limited, Purple through Purple Urban Limited, concluded its Sukuk bond privately issued to the investing public, raising N5 billion. The bond issue was 100 per cent subscribed and has a maturity date of September 1, 2026.

“The Sukuk bonds were issued to finance the construction of 94 out of 112 housing units in an urban residential development of mainly 4 bedroom semi-detached maisonettes and penthouses, as well as 2, 3 and 4 bedroom apartments just off Freedom Way in Lekki Phase 1, Lagos, Nigeria,” the company said.

The company is completing plans to approach the capital market to raise a hybrid capital of about N30billion as part of money needed to complete its ongoing Purple Lekki project in the Lekki suburb area in Lagos State.

ANOTHER MILESTONE

PurpleLekki, the company’s ongoing project in Lekki, is being built with state of the art exterior & interior pieces driven by cutting-edge technology. According to the developer, the project was designed to provide an infrastructural platform for entertainment, hospitality and retail.

For instance, the Cinema embedded in the project, will bring a refreshing flavour to family and community entertainment patronage and management in Nigeria.

The 38,000 square metre Purple Lekki will encompass a premium 157-unit mixed-use development that blends high-quality residential, retail, entertainment, hospitality and co-working spaces to tap into the increasing demand for all-inclusive living.

The new construction is backed by financing from the Bank of Industry and guarantees from Keystone Bank. It forms part of an ongoing programme to build strategic alliances with domestic and international development partners to construct and deliver premium assets in prime locations.

Located on Freedom way, in Lekki Phase 1, Lagos, the development will feature a selection of new restaurants and concept bars, among other means of entertainment or relaxation, as part of the firm’s experiential offering, Purple Play. In addition to modern private offices, department stores and boutiques, PurpleLekki will include a dedicated tech and data centre to support business tenants and enable collaboration among tech-empowered communities that require state-of-the-art working infrastructure - making Lekki an even more attractive place to live, work and thrive.

The development also includes Citadines, a new serviced apartment offering for occupiers, where a commitment to customer service ordinarily experienced within a high-end hotel setting will be brought to the comfort of occupants living at home. This unique living experience will be delivered in partnership with The Ascott Limited, one of the world’s leading

owners and operators of serviced residences.

Purple’s upcoming mixed-use oasis, Citadines Purple Lekki will play host to the new, refreshing living experience, which blends the convenience and hospitality of traditional hotels with the comfort of being in your very own home, says the local developer.

There are also plans by Purple to introduce home ownership arrangements by way of Fractions.

According to the firm, Fractions solves the issue of access on the buyer and seller side and provides a level-playing field as well as gives an easier path to exiting real estate transactions.

As part of the plan under the Fractions model, it revealed, Purple would be launching a home ownership scheme with over N30 billion worth of properties listed.

COMMENTS

Chief Executive Officer, Purple, Laide Agboola, hosted the signing event recently in Lekki to mark the occasion and led a tour to showcase the project.

In his remarks, he reaffirmed Purple’s mission and increased ambition to scale up investment and accelerate growth in Nigeria’s real estate sector.

“PurpleLekki enables holistic living, encouraging inclusion and communities, best-in-class entertainment and productive atmospheres for work that enable social and economic mobility and opportunity,” he said.

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

27

TUESDAY, ͹΁˜ ͺ͸ͺͺ ˾ T H I S D AY

THE ALTERNATIVE

with RenoOmokri

Religiosity Versus Spirituality T

ry this physical experiment. Plant two seeds. Water one daily, then pray on it.

Pray on the other one daily, but don’t water it. Then see which one grows.

The result will teach you a spiritual principle established in Genesis 8:22-“As long as the earth endures, seedtime and harvest, cold and heat, summer and winter, day and night will never cease.”

If you want your life to grow, stop relying on prayer alone. Plant a seed of effort. Then pray. God always ensures that effort, plus prayer equals success.

The reason I just asked you to try this exercise is because Nigeria has become an increasingly religious society, yet, we are a very carnal nation. We hardly have any spirituality.

If you go through the statistics of paternity fraud, gay and straight pornography, online fraud, and money rituals, you will find us at or near the top.

Yet, at every other corner in Nigeria, there is a church or mosque. Nigeria is a very religious nation that is also uber-carnal.

In fact, the only times many Nigerians ever fast, is when they want God to deal with their enemies.

Not only will they fast, they will meditate and sow seeds. They plot. And pray in tongues over their plots. But our people, with exceptions, tend to be unwilling to apply the same effort for God to help them deal with their poverty.

Recently, an African-American preacher named Creflo Dollar, admitted that he had been in error over his teachings on the issue of tithing. He not only made the admission, he also asked those who had bought his tapes and books on the subject to bin them.

This comes two years after the famous televangelist, Benny Hinn, made a similar public admission. In his case, he lamented that he had spent his career largely teaching the wicked prosperity Gospel.

In both instances, the Nigerian evangelical and Pentecostal churches hit back with such vicious ferocity. As I observed their ferocity, I wondered where it was during the Deborah Samuel affair.

I have literally gone round the world on my own dime (if anyone has given me a penny, speak now or forever remain silent) pleading for world leaders to help me put pressure on the Buhari government to secure the release of Leah Sharibu, the Christian girl abducted by Boko Haram from Government Girls' Science and Technical College, Dapchi, on February 19, 2018.

How many of these men of God who were vituperating when Creflo Dollar threatened their bread and butter have spoken up for Leah Sharibu?

Yet, Christ said: “When did we see you sick or in prison and go to visit you?’ “The King will reply, ‘Truly I tell you, whatever you did for one of the least of these brothers and sisters of mine, you did for me.’-Matthew 25-39-40.

And then we wonder why Nigeria is the world headquarters for extreme poverty. Can Scripture lie?

What does Scripture say in Proverbs 14:34?

“Righteousness exalts a nation, But sin is a reproach to any people.”

CAN President, Dr. Samson Supo Ayokunle Japan is 1% Christian. But the Japanese are some of the most righteous people on Earth. They are notoriously honest and hard-working.

Prince, the late singer, once talked about how he performed a concert at a 30,000-seat stadium in Japan, and being the eccentric that he was, he insisted that a tambourine be placed on each seat, so the crowd could play along with his song, Tambourine. After the concert, not one tambourine was missing.

I do not know of even one Christian nation, with perhaps the exception of Ethiopia, where this can be possible.

Can you forget your phone and return back to get it in many of today’s mega churches? Their mega is maga!

The Japanese reflect righteousness, not religion.

And that is why God has exalted them.

Scripture says: “for when Gentiles, who do not have the law, by nature do the things in the law, these, although not having the law, are a law to themselves. ”Romans 2:14.

Christianity that has both morality and prosperity is the ultimate. However, a Christianity that has morality, even if it lacks prosperity, is preferable to a Christianity that has prosperity, and lacks morality.

We cannot keep gaining the world and losing our souls. But, whether you pursue morality, or prosperity, do not forget eternity!

Recently, I had to counsel a Christian who claimed

he was being haunted by his village people. I asked him why he felt so. He responded that a bird usually comes every night and makes weird noises on the roof of his house.

He has been binding and praying.

But all over Nigeria, forested areas are being deforested at a ferocious rate and state governments are doing nothing about it. Where do we think birds live? Largely in forests.

And when we destroy their habitats, where do we expect them to live?

When I explained this to him, his response was ‘but why must it make weird noises?’

The truth is that the noise from a human will be weird to a bird and the noise from a bird will be weird to humans.

Many Nigerians do not even read Scripture. There is nothing in Scripture about witches or demons turning into birds. Belief in such comes from pre-Christian African and European superstition.

You go to the average Nigerian church, and you will find that members have read all the books written by their founding pastors, yet, have not read Scripture from beginning to end. So, when the pastor goes off script from Scripture, they all follow along unquestioningly, because he (or she), has become their standard, rather than Scripture!

Yet, Acts 17:11 says: “Now the Berean Jews were of more noble character than those in Thessalonica, for they received the message with great eagerness and examined the Scriptures every day to see if what Paul said was true.”

The greatest idolatry in Nigeria does not happen in a fetish shrine. It happens in Nigerian Pentecostal and Evangelical churches where people worship men of God, instead of God. We no longer call on the God of Scripture. We instead call on the God of the pastor so and so!

Am I lying?

Some persons may respond and say but Elisha called on the God of Elijah. Yes. That happened once. But have you considered that Elisha called a bear to kill youths who mocked him (2 Kings 2:23-25)? Would that be okay by you today? Elisha, unlike you and I, did not have DIRECT ACCESS to God because the Messiah had not come-John 16:23.

The enemy does not care how you commit your idolatry, as long as you commit it.

This does not mean that we should do away with the Old Testament. Far from it.

The Old Testament should not be scrapped. Rather, it should be adapted to the New Testament. When they clash, the teachings of Christ ALWAYS prevail.

Just imagine a High Court and a Supreme Court.

In the RARE event that they clash, the ruling of the Supreme Court will prevail. Not because the High Court is or was wrong. But rather because the knowledge available to the Supreme Court is more than that available to the lower court. We see this in Isaiah 28:10.

Scripture makes a very big distinction between religiosity and spirituality. 1 Corinthians 2:14 says: “But the natural man does not receive the things of the Spirit of God, for they are foolishness to him;

nor can he know them, because they are spiritually discerned.”

Without going into too many details (because I do not want to offend members of certain denominations), a lot of doctrines that many ‘Christians’ believe today are not even of Scriptural origin. And when they were first introduced, people who refused to believe them were killed in the most horrible manner.

It was not faith that made the remaining people believe them. It was fear. The fear of being killed. What mainstream Christendom (different from Christianity) did to propagate these beliefs (which are really of pagan origin) is worse than any Jihad ever carried out in the Islamic world. Please research this.

Forget about Reno Omokri. Forget about your church denomination. And get Scripture in the original language and read it yourself. Let me shock you.

The King James Version was not even translated from the original Scriptures. It was largely translated from the Latin Vulgate, and other TRANSLATIONS. Mind you, Latin was not used in any of the original Scriptures.

That is just like making a photocopy from different photocopies, instead of the original. The challenge with Christians is that we are largely not ready to put in the effort to study Scripture in the original languages.

I was moved to study Scripture in the original language after seeing a girl (not a woman, a girl!) recite several surahs of the Quran in Arabic, from memory, in Sokoto in 1994.

And from that time till today, my spirituality has deepened, and my religiosity has loosened.

Except you do that as a follower of Christ, you might inadvertently spend your life following men, and or church denominations, and think you were following Christ.

Reno’s Nuggets Learn From Davido. Use your influence and money to support your family. Build each other up. Don’t tear each other down. Don’t wash your dirty linen in public. Do not even let your wives or husbands come between you and your BLOOD family. Unite. Don’t divide. Be greater together.

Don’t let the hater be the victor. Congratulations go to the entire Adeleke family!

Senator Adeleke won partly because of Davido.

Going forward, Davido will win more because of Governor Adeleke. But look at your family.

Whatever energy, money, and influence you have is dedicated to pulling each other down. Learn from the Adelekes!

How many celebrities could have done for their families what Davido did for his? Some even publicly fight their blood brothers. Others fight their own birth parents. Moral of the story: One family member who is committed to you is better than millions of fans who are interested in you! #RenosNuggets #OsunDecides2022 #FreeLeahSharibu #TableShaker

We Were Unaware of Lawsuit, Court Order against Our 10th AGM FBN Holdings Maintains Kayode Tokede Following the ex parte order a Federal High Court granted against FBN Holdings Plc, the management of the holding company said it was never briefed of any lawsuit or court order, until about 3pm yesterday.

The Acting Company Secretary, FBN Holdings, Adewale Arogundade, while responding to the court ruling that granted an ex parte order on the decisions taken at the AGM in a statement posted on the website of the Nigerian Exchange Limited stated: “FBN Holdings remained unaware of any lawsuit or court order against it until 3pm today when a copy of same was served on it.”

Justice Akintoye Aluko last Friday granted the order following an exparte application filed by an aggrieved shareholder of the financial institution, Mr. Olusegun Onagoruwa, who alleged that the affairs of the bank are being run illegally.

The applicant, through his lawyer, Mr. Ebun-Olu Adegboruwa (SAN), is asking the court to set aside the resolutions reached at the just-concluded annual general meeting (AGM) of the 1st respondent (FBN Holdings Plc) held on Monday, June 20, 2022.

Arogundade in the statement noted that, “without prejudice to the said court order, FBN Holdings confirms that the subject AGM

was duly and validly held with all requisite regulatory and statutory parties in attendance.

“FBN Holdings has briefed its

lawyers to review the said exparte order to ensure its full representation in court on July 22, 2022 to which same was adjourned.”

He reassured the investing public and other stakeholders of the management's continued effort to discharge its responsibilities in

compliance with regulatory authorities in the manner expected of a company listed on the premium Board of NGX.

NNPC TRANSITION: GROUP CFO EXPECTED TO INTENSIFY INTERNAL CHECKS, CONTROL “The meaning of this to our industry is that you’re going to have the partner of choice, the partner that will support you, the partner that will be the largest capitalised company in Africa. Not only that, a partner that will be born of best practice, of everything that you can think of because we’re going to be a CAMA company. We are going to be another Shell, decision making would be easy, finances will also be easy.”

FG to Halt Funding as NNPC Transforms to Full Commercial Entity Today

Meanwhile, as the NNPC transitions to a full commercial entity today, the federal government would henceforth halt all forms of funding for projects and sundry purposes in contrast to what has obtained in the last 45 years of the national oil company’s existence.

The new NNPC which would now operate as a limited company, the Group Chief Executive Officer,

Mallam Mele Kyari, disclosed last night, would be completely set for an Initial Public Offer (IPO) by June 2023 to boost its capital base.

Speaking on Channels Television, Kyari boasted that with a N200 billion initial capital outlay as well as $5 billion initial debt funding, the new NNPCL would be one of the most efficiently run entities globally.

He also said the Dangote refinery would commence operation in the first quarter of next year, which according to him would positively impact Nigeria’s foreign exchange supply situation.

Before now, Kyari stated that every effort to make sure that the company became a fully commercial company didn't work out because there wasn’t the enabling environment or the enabling legislation to support it.

Like its many global and local partners, who the GCEO stressed are operating without losing money, the NNPCL head noted that the firm has huge assets, and will have

access to huge capital and the trust of the global business community unlike in the past.

Kyari stated that it was difficult to borrow before now because the NNPC was not a fully commercial company, assuring that there will be ease of transacting business with the new NNPC. Although in its teething stages the NNPCL would still be largely owned by the federation, he noted that the NNPC will no longer require the approval of the executive or the National Assembly to borrow or seek financing for projects.

“There is a space for private people to take equity in this company. But as we speak now, the shareholders are the over 200 million Nigerians. There can be a second level of private ownership, that is by selling down some of these equities so that people can take it in their individual capacity not in the collective capacity as a nation.

“So definitely the whole gamut of the changes will happen. And this company must be IPO ready immediately before you can talk

about selling down of interest,” Kyari stated.

According to him, the new company was already working towards making sure it expands its capital base by allowing private equity in the firm and operate profitably.

“We're already on the positive trend and by the middle of next year, I'm very, very confident that this company will be in a place to say we're ready for IPO and it will be the decision of the nation to go private completely in the sense that we can now sell their equity, which is different from being owned by the generality of Nigerians,” he explained.

From now on, he disclosed that the National Assembly will no longer need to pass the appropriation for the purpose of its contribution to the joint ventures, cash calls and all other obligations in the various business agreements.

“What that means is that the NNPC must now look for financing without recourse to the state. And

indeed, the law is very, very clear that we will have no recourse to public funds.

“We cannot go to government anymore for financing. The reason is very simple that we can no longer ask for sovereign guarantee anymore. So the sovereignty vanishes,” he explained.

With the new status, he noted that the company’s interaction will be based on value addition, ability to pay back loans and general business credibility, dismissing insinuations that the non-functional refineries would impact on its core business.

“Firstly, refineries, and then filling stations, actually, they're the least of our assets. Although I clearly agree that they are the most visible of our assets,” he stressed, adding that the real business is in the upstream.

Kyari stated that rather than rush into eliminating its hydrocarbons because of the so-called energy transition, at some point, there will be conversion of certain assets to process cleaner fuels, insisting that fossil fuels are not vanishing soon.

28

T H I S D AY ˾ TUESDAY, JULY 19, 2022

BUSINESS/MONEYGUIDE

FG Reaffirms Commitment to Achieve National Food Security Gilbert Ekwugbe The Permanent Secretary, Federal Ministry of Agricultural and Rural Development, (FMARD), Dr. Ernest Umakhihe, has emphasised the commitment of the Ministry to attaining national food security.

Umakhihe said that the ministry has mapped out strategic policies such as the Agriculture for Food and Jobs Plan (AFJP), the Green Imperative, Agricultural Promotion Policy, NATIP as well as the Presidential Fertilizer Initiative (PFI) among others.

He stated this during the flag off the distribution of free agricultural inputs and quality seeds in in Benin City, Edo State.

The permanent secretary said that the distribution of agricultural inputs would enhance food and nutrition security, economic growth and job creation, especially during the Post COVID-19 era.

The event featured distribution of equipment such as food dehydrator, motorised oil palm

harvester, cashew cracker, three HP water pump, knapsack sprayers, agro chemicals, growth enhancers, power tillers, cassava stems, planters and cassava processing equipment among others.

Umakhihe said: “The smallholders are the most vulnerable in times of crisis, it become imperative for the federal government to support them with the much-needed inputs especially seeds, which is the most important factor that influences farmers’ yield in order to enable them to recover quickly from the set back of the COVID-19 pandemic and the effect of the insecurity.”

He revealed that 35 per cent of the inputs were targeted at women farmers and processors in line with the targets set in the National Gender Plan and Policies (NGPP) aimed at ensuring increased opportunities for women.

“Similarly, 10 per cent is targeted at persons with special needs and this has been communicated to the

Farmers’ associations to act accordingly,” he said.

In his welcome address, the Commissioner of Agriculture and Food Security, Edo State, Mr. Stephen Idehenre, stated that these initiatives were designed to provide critical support to smallholder farmers in the state, leverage land assets towards driving development and diversify the economy with a focus on sustaining food security.

Earlier, in his goodwill message, the Chairman, All Farmers Association of Nigeria, Edo Chapter, Mr. Bako Dogo, commended the federal government under the leadership of President Muhammadu Buhari for its progressive and pragmatic policies in the agriculture sector, which is geared towards diversification of the economy, increased production and income for farmers in the country.

One of the beneficiaries, a physically challenged farmer, Mr. Efosa Baldwin, thanked the ministry for the free agricultural inputs and pledged to make judicious use of the inputs.

SON Urged to Upgrade ICT Infrastructure for Easy Interface With Customs The Comptroller General of the Nigeria Customs Service (NCS), Col Hameed Ali (Rtd) has urged the Standards Organisation of Nigeria (SON) to upgrade its IT infrastructure to enable a smooth interface with the NICIS II platform of the service.

The customs boss stated this when the Director-General of SON, Mallam Farouk Salim, along with his management team, visited the customs headquarters in Abuja.

The SON Director-General emphasised the strategic role played by the Nigeria Customs Service in the fight against the importation of substandard

products.

He also acknowledged the historical support given to his organization while requesting for more strategic engagement in the light of their recent return to the ports.

Hameed Ali agreed that synergy between critical government agencies at the ports will greatly enhance efficiency and would do much good in protecting the nation as well as its citizens.

The CGC emphasised the need for SON to upgrade its IT infrastructure to enable a smooth interface with the NICIS II platform of the NCS.

The DG promised to do all in his power to make this a reality while also requesting for Customs Officers to be trained in ISO certifications.

The meeting corroborated the readiness and willingness of the Nigeria Customs Service to discharge its statutory responsibilities of protecting the national economy through trade facilitation, revenue generation and anti-smuggling activities while providing the needed support in safeguarding the nation from the importation of substandard goods through collaboration with SON as the designated authority.

STOAN Congratulates New Minister of Transportation The Seaport Terminal Operators Association of Nigeria (STOAN) has felicitated with the new Minister of Transportation, Engr. Mu’azu Jaji Sambo, and the Minister of State for Transportation, Mr. Ademola Adewole Adegoroye, on their appointment by President Muhammadu Buhari.

In a statement, the Chairman of STOAN, Princess Vicky Haastrup, expressed confidence in the ability of the new Ministers to fulfill the vision of President Buhari for the transportation sector.

Haastrup said that Sambo’s previous rich work experience in the maritime industry will help him succeed in the new

task assigned to him.

“We are particularly happy with your appointment considering your rich work experience and numerous contributions to nation building both within and outside the maritime industry.

“With your experience as the immediate past Honourable Minister of State in the Federal Ministry of Works and Housing, and previous work experience in the Nigerian Ports Authority (NPA), Savannah Bank, Allied Bank, NICON Insurance Corporation, and as the General Manager Lagos Zone, National Inland Waterways Authority (NIWA), where you meritoriously retired from public service in 2019; we

have no doubt that you will make significant positive impact as the Honourable Minister of Transportation,” the STOAN Chairman said.

She assured the new Ministers of the full cooperation of port terminal operators in the discharge of their duties, even as she prayed for God’s guidance for the duo in their new assignment.

Both Sambo and Adegoroye were deployed to the Federal Ministry of Transportation as Minister and Minister of State respectively on July 6 after President Muhammadu Buhari inaugurated new Ministers and effected a minor cabinet reshuffle.

Mamador Launches New Communication, Inspires Nigerian Women Staying true to its promise of empowering Nigerian women, premium food brand Mamador produced by PZ Wilmar launched a new communication titled ‘Explore your Flavour’.

The communication, which is a wake-up call for women to experience life outside of routines and step into a world of endless possibilities was launched via a digital campaign recently.

The digital launch featured empowering conversations leveraging notable personalities/ influencers; veteran Nollywood

Actor Ufuoma McDermott, Chef Ifeyinwa Mogekwu of Ify’s Kitchen and many others, share their exploration stories and inspire/motivate women to explore the limitless sides of themselves and aim to achieve fulfilment in their chosen endeavours.

The brand equally released a television commercial with the intention of reaching every Nigerian woman and ushering her into an era of exploration and self-fulfilment.

Speaking to the new com-

munication and the commitment of the brand to inspiring Nigerian women, Head of Marketing PZ Wilmar, Chioma Mbanugo, stated that the idea behind the ‘Explore your flavours’ theme was born out of a need to inspire women to pursue those forgotten passions and dreams that may have been pushed aside due to circumstantial coercions and life pressures.

“The average Nigerian woman is nurturing a potential talent or two which she refuses to explore due to circumstances or maybe societal pressure.

L-R: RCH Ikeja 1 Zone, Wema Bank Plc,Mr. Olukayode Adebayo; Representative of FCCPC,Mrs. Susan Onwuka; Divisional Head, Retail and SME Business, Wema Bank Plc, Mr. Dotun Ifebogun and Representative of National Lottery Regulatory Commission,Ini Ibok at the Wema Bank 5for5 Promo draws held in Lagos...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY MAY 30, 2022

The price of OPEC basket of thirteen crudes stood at $118.84 a barrel on Friday, compared with $116.50 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

29

T H I S D AY ˾ TUESDAY, JULY 19, 2022

MARKET NEWS

AfDB, SEC Collaborate on Market Surveillance Project With $460,000 Grant Kayode Tokede In a bid to modernise Nigeria’s capital markets and ensure that it is well positioned to support economic transformation driven by private sector investment, the Securities and Exchange Commission (SEC) and the African Development Bank Group (AfDB) have signed an agreement for a grant worth $460,000 on market surveillance

system project.

The grant is to finance technical assistance and capacity building for capital markets development under the “Nigeria Securities Market Surveillance System Project”.

Speaking at the ceremony, Director General, AfDB, Mr. Lamin Barrow said the grant from the Capital Markets Development Trust Fund (CMDTF) - a multi-donor

P R I C E S MAIN BOARD

F O R DEALS

trust fund administered by the African Development Bank-and supported by the Ministry of Finance of Luxembourg and the Ministry of Foreign Trade and Cooperation of the Netherlands, will support the acquisition, installation and deployment of a real-time automated securities market surveillance system of the Nigeria capital markets.

According to Barrow, “Today’s ceremony marks yet another

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

important milestone in our partnership and efforts to modernize Nigeria’s capital markets and ensure that it is well position to support economic transformation driven by private sector investment.

“The introduction of a surveillance system will enhance oversight over securities trading across all existing and future trading platforms and all tradable securities and products by

T R A D E D MAIN BOARD

A S

the SEC. It will therefore preserve securities market integrity, boost investor confidence and enhance financial inclusion, among other expected outcomes.

The AfDB DG said to ensure sound implementation and sustainability, the design of the technical assistance project embeds training activities to strengthen the capacity of users of the securities market surveillance system, and the preparation of

O F

relevant operational manuals and workflow processing and document management for the surveillance solution.

In his remarks, Director General of the SEC, Mr. Lamido Yuguda said the SEC is pleased and thankful to AfDB for providing the grant support to execute these very important projects, particularly the project to acquire a surveillance solution.

1 8 / 0 7 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

30

TUESDAY, ͹΁˜ ͺ͸ͺͺ ˾ T H I S D AY

Tuesday, July 19, 2022

dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ƌŽƐĞ ϯϭďƉƐ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϭϰďƉƐ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞdž ŐĂŝŶĞĚ ϯϭďƉƐ ƚŽ

THISDAY AFRINVEST 40 INDEX

Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ Ϯ͕ϱϯϴ͘ϴϴ ŝŶĚĞdž ƉŽŝŶƚƐ ĚƵĞ ƚŽ ŐĂŝŶƐ ŝŶ 'd K t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ

;нϭ͘ϵйͿ͕ & E, ;нϬ͘ϵйͿ͕ ĂŶĚ ^ W> d ;нϭϬ͘ϬйͿ͘ ƵͲ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

ŵƵůĂƟǀĞůLJ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϵ͘ϯй ŽĨ ƚŚĞ

ŝŶĚĞdž͘

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

THISDAY AFRINVEST 40

;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ

ŝŶŐ ǁĞĞŬ ŽŶ Ă ƉŽƐŝƟǀĞ ŶŽƚĞ ĂƐ ŐĂŝŶƐ ŝŶ ^ W> d ŝŶĚĞdž

ƌŽƐĞ

ďLJ

8 FBN Holdings Plc 9 Nestle Nigeria PLC

ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ďLJ Ϭ͘Ϯй ƚŽ ϱϮ͕ϯϭϵ͘ϵϰ ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ

10 SEPLAT Energy PLC 11 Access Holdings PLC

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƉŽŝŶƚƐ͘ >ŝŬĞǁŝƐĞ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

ʬϱϲ͘ϱďŶ ƚŽ ʬϮϴ͘ϮƚŶ ǁŚŝůĞ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ

15 Ecobank Transnational Inc 16 Stanbic IBTC Holdings PLC

ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ

17 International Brew eries PLC 18 Flour Mills of Nigeria PLC

ƚŽ ϮϮ͘ϱй ;ƉƌĞǀŝŽƵƐůLJ͗ ϮϮ͘ϮйͿ͘ DĞĂŶǁŚŝůĞ͕ ŵĂƌŬĞƚ ĂĐƟǀŝƚLJ ĚĂŵƉĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ;േϮ͘ϮďŶͿ͕ ƚƌĂĚĞĚ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d>

ĚĞĐůŝŶĞĚ ϯϴ͘ϴй ĂŶĚ ϭϲ͘ϭй ƌĞƐƉĞĐƟǀĞůLJ ƚŽ ϭϭϲ͘ϯŵ E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

69.30

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

EĞŐĂƟǀĞ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

WĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂĐƌŽƐƐ ŽƵƌ ĐŽǀĞƌĂŐĞ

27 Transnational Corp of Nigeria 28 PZ Cussons Nigeria PLC

ƐĞĐƚŽƌƐ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ /ŶĚƵƐͲ ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ

29 Cadbury Nigeria PLC 30 UAC of Nigeria PLC

Ğƌ 'ŽŽĚƐ ĂŶĚ ŝŶĚĞdž /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ϰ͘ϲй ĂŶĚ ƚƌŝĂů 'ŽŽĚƐ ĐůŽƐĞĚ ŇĂƚ͘ ĚŽǁŶ dŚĞ ŽŶƐƵŵĞƌ

31 TotalEnergies Marketing Nigeri 32 Julius Berger Nigeria PLC

ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ůŽƐƚ Ϭ͘ϲй ĂŶĚ Ϭ͘ϱй

33 Custodian and Allied Insurance 34 Unilever Nigeria PLC

ϵ͘ϭйͿ͕

ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƉƌŝĐĞ ĚĞĐůŝŶĞ ŝŶ E ;Ͳϱ͘ϭйͿ͕

35 Jaiz Bank PLC 36 Oando PLC

,KEz&>KhZ ;Ͳϵ͘ϭйͿ͕ // K ;Ͳϲ͘ϯйͿ͕ ĂŶĚ ,/W> ;Ͳ

37 Union Bank of Nigeria PLC 38 Sterling Bank PLC

ϰ͘ϭйͿ͘ ůƐŽ͕ ƐĞůůŽīƐ ŝŶ DdEE ;ͲϬ͘ϭйͿ͕ t' ;Ͳ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞdž ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d

>/E< ^^hZ

;Ͳϲ͘ϰйͿ͕

ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ

ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ ϭϬ͘ϬйͿ͕ E/d, ;ͲϬ͘ϵйͿ ĂŶĚ h E ;ͲϬ͘ϵйͿ ĚƌĂŐŐĞĚ Ğƌ͕ &ZͲ/ d ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ŝŶĚŝĐĞƐ ďLJ ƉƌŝĐĞ ƚŚĞ ĂŶĚ ĂŶŬŝŶŐ ĚŽǁŶ ĂƉƉƌĞĐŝĂͲ ďLJ ϱďƉƐ ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

36.9% 153.9%

P/E

Divindend Earnings Yield Yield

P/BV

20.2%

4.1%

10.0%

18.2%

6.2%

16.8%

0.0%

105.6%

13.9%

14.5x

17.9x

5.7%

3.4%

-3.6%

23.3%

12.1%

26.1x

5.9x

4.2%

3.8%

4.2%

-17.9%

4.1%

19.8%

3.2%

3.5x

0.7x

14.1%

28.4% 36.1%

48.0%

99.5%

-0.1%

7.6%

0.0%

5.5%

21.35

1.9%

5.6x

0.8x

6.3%

4.1%

-12.5%

1.4%

20.6%

2.6%

2.8x

0.5x

14.1%

0.0%

3.6%

3.1%

-3.6%

37.7%

16.4%

12.0x

4.4x

7.5%

8.3%

25.85

0.0%

2.8%

7.9%

-2.1%

15.5%

11.1%

7.0x

1.1x

7.7%

14.3%

11.00

0.9%

2.4%

-3.5%

-5.2%

20.1%

1.9%

2.4x

0.4x

3.2%

42.1%

0.0%

2.5%

-10.1%

0.0%

112.8%

16.1%

24.3x

28.3x

3.7%

4.1%

1,430.50

10.0%

2.7%

120.1%

10.0%

7.5%

3.6%

14.5x

1.1x

2.9%

6.9%

9.25

0.5%

2.1%

-0.5%

-0.5%

17.9%

1.6%

2.0x

0.3x

7.6%

49.5%

7.45

0.7%

1.6%

-7.5%

0.0%

15.6%

1.4%

2.1x

0.3x

13.3%

46.8%

53.00

-5.1%

1.3%

6.0%

-9.9%

10.5%

3.9%

22.8x

2.3x

3.0%

4.4%

216.90

0.0%

1.4%

52.7%

0.0%

43.6%

25.5%

11.3x

4.8x

4.1%

8.8%

10.60

0.0%

1.3%

21.8%

0.0%

18.4%

1.0%

2.2x

0.4x

6.4%

44.8%

6.7x

1.1x

9.5%

15.0%

0.8x

6.3%

19.2% 41.4%

31.55

0.0%

1.1%

-12.4%

-6.0%

15.6%

2.1%

5.80

0.0%

1.0%

17.2%

-7.9%

-9.9%

-3.4%

34.00

2.4%

0.9%

19.9%

4.6%

15.9%

4.5%

1.1x 5.2x

-9.2%

3.18

-0.3%

0.6%

24.7%

-7.0%

13.3%

1.2%

2.4x

0.3x

11.0%

90.50

0.0%

0.7%

132.1%

0.0%

17.8%

8.1%

13.5x

2.2x

0.6%

7.4%

158.40

0.0%

0.4%

80.4%

-4.0%

7.3x

4.4x

4.2%

13.8%

2.1x

6.0%

6.8%

0.2x

6.6%

4.00

7.0%

0.5%

455.6%

25.4%

15.7%

0.9%

3.03

1.0%

0.4%

1.3%

-12.4%

10.7%

1.1%

2.9%

0.9%

14.7x

2.00

1.5%

0.4%

-13.8%

0.0%

12.85

1.6%

0.4%

29.8%

0.8%

16.00

0.0%

0.4%

-8.0%

-1.8%

1.22

-1.6%

0.3%

27.1%

-0.8%

10.40

0.0%

0.3%

70.5%

8.3%

17.10

0.0%

0.2%

94.3%

-0.9%

12.1%

4.1%

11.10

0.0%

0.2%

16.8%

0.0%

5.2%

2.3%

12.5x

234.50

0.0%

0.2%

5.7%

0.0%

16.7%

19.1x

0.6x

12.5%

5.2%

6.1x

2.9x

11.7%

16.3%

8.6x

1.4x

6.3%

11.6%

0.5x

1.6%

7.9x

1.2x

2.5%

12.6%

18.3x

2.1x

3.1%

5.5%

0.7x

5.9%

8.0%

1.7x

8.3%

6.6%

27.10

0.0%

0.2%

21.3%

2.3%

18.1%

2.3%

6.0x

0.8x

9.2%

16.6%

7.30

0.0%

0.2%

-7.6%

4.3%

19.5%

5.5%

4.3x

0.8x

6.8%

23.3%

15.50

0.0%

0.1%

6.9%

4.7%

8.8%

5.4%

48.2x

1.3x

3.2%

2.1%

0.87

-1.1%

0.1%

55.4%

-4.4%

17.4%

1.3%

6.7x

1.2x

4.6%

14.9%

5.19

-5.6%

0.1%

17.4%

-8.5%

5.40

-0.9%

0.1%

-8.5%

-12.2%

6.1%

0.7%

8.5x

0.6x

1.55

2.0%

0.1%

2.6%

2.0%

10.3%

1.0%

3.1x

0.3x

-17.7%

-4.1%

62.50

0.0%

0.0%

0.0%

0.0%

6.25

0.0%

0.0%

16.2%

0.0%

P ric e

-21.5%

-173.2% 11.8% 6.5%

1.8x 1.1%

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

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg % -0.7%

3.74

10.0%

C A VER T ON

47.5

1905.40

10.0%

GT C O

14.8

1.2%

UP D C

1.26

8.6%

UB A

14.7

-1.3%

C H A M P ION

3.85

8.5%

T R A N SC OR P

13.1

-1.6%

P R EST IGE

0.41

7.9%

A C C ESSC OR P

10.8

-0.5%

IN T B R EW

5.80

5.5%

WEM A B A N K

7.8

10.0%

A IIC O

0.64

4.9%

J A P A ULGOLD

7.7

3.8%

KƵƚůŽŽŬ

R ED ST A R EX

2.60

4.8%

C UT IX

7.0

-4.7%

J A P A ULGOLD

0.27

3.8%

M TNN

6.6

0.0%

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ

C H IP LC

0.74

2.8%

FB NH

5.8

0.0%

Θ 'ĂƐ ŝŶĚĞdž ĂĚǀĂŶĐĞĚ ϰ͘Ϭй ĐŽƵƌƚĞƐLJ ŽĨ ďƵLJ ŝŶƚĞƌͲ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

ĞƐƚ ŝŶ ^ W> d ;нϭϬ͘ϬйͿ͘

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲdž ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ

ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

;ƉƌĞǀŝŽƵƐůLJ͗ ͲϬ͘ϭϮdžͿ ĂƐ ϭϲ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ ϮϮ >/s Ͳ ůŽƐƚ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ ^dK < ϲϳ ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ǁŚŝůĞ ĐůŽƐĞĚ ŇĂƚ͘ dŽĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ďĂƌŐĂŝŶ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ

ŚƵŶƟŶŐ ĂĐƟǀŝƟĞƐ ƚŽ ƐƵƐƚĂŝŶ ƚŚĞ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌͲ ŐƌĂĚƵĂůůLJ ǁŝŶĚƐ ƵƉ͘

ŵĂŶĐĞ͘

P ric e C hg %

T ic k er

Value

F ID SON

9.41

-10.0%

M TNN

1528.9

0.0%

NNFM

8.60

-9.9%

D A N GC EM

704.7

-3.6%

LIN KA SSUR E

0.53

-8.6%

A IR T ELA F R I

664.2

10.0%

-7.8%

GT C O

310.0

1.2%

124.8

0.5%

T ic k er

C OUR T VILLE

P ric e

0.47

P ric e C hg %

H ON YF LOUR

2.75

-7.4%

Z EN IT H B A N K

ST A N B IC

31.55

-6.0%

UB A

109.4

-1.3%

99.3

-0.5% -0.7%

C WG

0.90

-5.3%

A C C ESSC OR P

C OR N ER ST

0.57

-5.0%

C A VER T ON

64.6

-4.7%

FB NH

61.6

0.0%

-3.6%

SEP LA T

50.8

0.0%

C UT IX D A N GC EM

Afrinvest West Africa Limited

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

T o p 10 L o s e r s

ďƌĞĂĚƚŚ͕ ŝŵƉƌŽǀĞĚ ŵĂƌŐŝŶĂůůLJ ͲϬ͘Ϭϵdž < Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ƚŽ ůĞĚ ŐĂŝŶĞƌƐ

2.25 265.00

32.7% -9.5%

1.0x

A IR T ELA F R I

6.9%

-0.9%

WEM A B A N K

ĂŶĚ ϰďƉƐ ƌĞƐƉĞĐƟǀĞůLJ͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ƚŚĞ Kŝů

10.8%

1.1%

22.00

T o p 10 G a in e r s T ic k er

ROA

1,400.00

19 Fidelity Bank PLC 20 Guinness Nigeria PLC 21 Presco PLC

25 United Capital PLC 26 Dangote Sugar Refinery PLC

ROE

265.00

22 Wema Bank PLC 23 FCMB Group Plc 24 AXA Mansard Insurance PLC

ƵŶŝƚƐ ĂŶĚ ʬϯ͘ϱďŶ͘

;Ͳϯ͘ϱйͿ͕

230.00

12 United Bank for Africa PLC 13 Nigerian Brew eries PLC 14 Okomu Oil Palm PLC

ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ

hE/> s Z

0.0%

5 Zenith Bank PLC 6 Dangote Cement PLC 7 Lafarge Africa PLC

;нϭϬ͘ϬйͿ͕ 'd K ;нϭ͘ϵйͿ͕ ĂŶĚ & E, ;нϬ͘ϵйͿ ůŝŌĞĚ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ zd ůŽƐƐ ŝŵͲ

0.31%

1,905.40

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĐŽŵŵĞŶĐĞĚ ƚŚĞ ƚƌĂĚͲ ^ŚĂƌĞ

2538.88

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

WƌĞǀŝŽƵƐ ĚĂLJ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ ƵůůƐ KƉĞŶ ƚŚĞ tĞĞŬ͙ ^/ ƵƉ Ϭ͘Ϯй

Price Previous Price Current Change Price Change Weighting Index to Change YTD Date

Current Price

Ticker

Investment Research

Brokerage

Asset Management

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

31

TUESDAY, JULY 19, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 15July-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 195.38 196.53 17.04% Afrinvest Plutus Fund 100.00 100.00 4.97% Nigeria International Debt Fund 320.90 320.90 5.63% Afrinvest Dollar Fund 106.13 107.28 7.55% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 8.14% AIICO Balanced Fund 3.75 3.81 10.13% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 4.45% Anchoria Equity Fund 145.79 147.41 4.69% Anchoria Fixed Income Fund 1.21 1.21 5.57% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 22.60 23.28 11.43% ARM Discovery Balanced Fund 520.22 535.90 15.31% ARM Ethical Fund 43.74 45.06 12.29% ARM Eurobond Fund ($) 1.07 1.08 -0.80% ARM Fixed Income Fund 1.05 1.05 3.26% ARM Money Market Fund 1.00 1.00 6.87% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund N/A N/A N/A AVA GAM Fixed Income Dollar Naira N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.09 2.09 3.46% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.39 2.44 17.81% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.05 1.05 4.61% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.55% Paramount Equity Fund 19.99 20.36 14.63% Women's Investment Fund 150.49 152.37 5.98% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.97% Cordros Milestone Fund 135.77 136.74 8.91% Cordros Dollar Fund ($) 110.30 110.30 5.06% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 7.87% Emerging Africa Bond Fund 1.05 1.05 9.05% Emerging Africa Balanced Diversity Fund 1.07 1.07 17.08% Emerging Africa Eurobond Fund 102.79 102.79 4.72% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1476.75 1476.75 10.69% FBN Balanced Fund 194.59 195.88 11.03% FBN Halal Fund 121.45 121.45 10.17% FBN Money Market Fund 100.00 100.00 7.15% FBN Dollar Fund (Retail) 124.73 124.73 6.13% FBN Nigeria Smart Beta Equity Fund 163.14 165.17 7.60% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 4.91% Legacy Debt Fund 3.88 3.88 -3.07% Legacy Equity Fund 1.95 1.98 11.89% Legacy USD Bond Fund 1.23 1.23 2.17% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,173.03 3,585.00 100.00

4,234.42 3,585.00 100.00

13.44% 6.26% 7.74%

FSDH Dollar Fund 1.11 1.11 3.95% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.61 1.64 13.52% Lotus Halal Fixed Income Fund 1,153.06 1,153.06 5.10% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.50 12.59 14.50% Meristem Money Market Fund 10.00 10.00 8.28% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.00 101.00 1.72% Norrenberger Money Market Fund (NMMF) 100.00 100.00 7.68% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 126.44 128.61 5.19% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.05 1.05 8.32% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,688.51 3,731.26 -2.23% Stanbic IBTC Bond Fund 239.94 239.94 0.45% Stanbic IBTC Ethical Fund 1.47 1.49 -1.99% Stanbic IBTC Guaranteed Investment Fund 322.69 322.70 0.75% Stanbic IBTC Iman Fund 273.83 277.87 -0.94% Stanbic IBTC Money Market Fund 1.00 1.00 5.75% Stanbic IBTC Nigerian Equity Fund 12,346.16 12,517.93 -2.41% Stanbic IBTC Dollar Fund (USD) 1.33 1.33 0.66% Stanbic IBTC Shariah Fixed Income Fund 119.01 119.01 0.45% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 110.66 110.66 1.09% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.00 1.02 12.48% United Capital Balanced Fund 1.36 1.38 3.98% United Capital Wealth for Women Fund 1.16 1.18 12.28% United Capital Sukuk Fund 1.07 1.07 3.90% United Capital Fixed Income Fund 1.90 1.90 3.47% United Capital Eurobond Fund 121.95 121.95 2.95% United Capital Money Market Fund 1.00 1.00 7.72% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.96 14.09 5.83% Zenith ESG Impact Fund 16.16 16.34 10.59% Zenith Income Fund 22.86 22.86 4.11% Zenith Money Market Fund 1.00 1.00 6.23% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.91 4.01 -2.50% Vetiva Consumer Goods Exchange Traded Fund 6.08 6.18 4.07% Vetiva Griffin 30 Exchange Traded Fund 19.20 19.40 8.51% Vetiva Money Market Fund 1.00 1.00 5.39% Vetiva Industrial Goods Exchange Traded Fund 20.67 20.87 3.42% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 153.40 155.40 -2.75%

REITS NAV Per Share

Yield / T-Rtn

117.74 51.82

3.98% 1.90%

Bid Price

Offer Price

Yield / T-Rtn

15.19 142.75 112.93 17.10 16.40

15.29 146.19 115.34 17.20 16.50

8.60% -5.50% -5.01% 21.93% 3.99%

NAV Per Share

Yield / T-Rtn

107.55

12.10%

Fund Name SFS REIT Union Homes REIT

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

32

T H I S D AY ˾ TUESDAY JULY 19, 2022

PROPERTY & ENVIRONMENT Community Controlled Clean Energy Crucial, Says Group Bennett Oghifo

O

rganising and building community owned and controlled clean energy systems are the keyways forward in the quest for a transition from fossil fuels.

The Director, Health of Mother Earth Foundation (HOMEF), Nnimmo Bassey stated this while welcoming participants to a programme, “the School of Ecology on Propelling the Energy Transition, Overcoming Climate Action Inertia”, which was held recently.

A statement issued by Media/Communication Lead, Kome Odhomor quoted Bassey as saying, “While tak-

ing these actions, citizens must consistently resist expansion of fossil fuel fields and also denounce the presentation of fossil gas as bridge fuel.”

He said climate change is a result of human activities with reference to production, movement, and consumption of goods. “A whole lot of these goods are products of transformation of natural resources, not to meet the basic needs of humans but to aid the drive for dispossession, accumulation, power, and despoliation.

“Climate change is the outcome of fractured socioeconomic systems. If this is accepted, it should be expected that it is within human capacity to act in ways that would stem the

tide, mitigate the impacts, and build resilience. Rather than do this, we are seeing a rise of arguments claiming that market forces can solve the climate polycrisis. It is clear that market environmentalism cannot solve problems created by the failure of markets.

“The unholy wedlock between fossil fuel industries and governments has locked societies on the fossil pathway and made it seem like dependence on dirty energy is both inevitable and unavoidable.

In Nigeria and other African countries, we hear top political leaders insisting that moving away from fossil fuels will spell economic doom, intensive energy deficits and a reign of poverty. It is not hard to see how false these

arguments are. The average Nigerian has been plunged into excruciating poverty and massive energy deficit despite 64 years of fossil fuel extraction and exports.

Politicians cannot convince anyone that two more decades of destructive extraction and pollution would suddenly turn the horrible indices around.”

He said the School of Ecology on Propelling the Energy Transition aims to force change from bad or dirty to good or renewable energy, he said.

“With our partners in Latin America, Southeast Asia, and Africa, we believe that there are lessons that can be learned from available wisdom and applied to fundamentally tip the scales away from polluting and harmful activities. We

are actively learning from indigenous wisdom which largely encourages living within planetary limits and in harmony with Nature.

Our youths can pick up the wisdom of the elders, process and adapt them in innovative ways to bring about the needed change.”

Bassey said the indications from multilateral actions prompted by the Paris Agreement of the UNFCCC are tilting more towards the perpetuation of polluting activities and then embarking on carbon removal from the atmosphere, or at pollution sources to buy time by delaying climate action while offloading the impacts on the youths and children.

“This school denounces the

intergenerational crimes connected to insistence on energy firms that harm humanity and the Planet. You have heard of ongoing moves towards divestment which the Niger Delta Convergence Manifesto characterizes as criminal flight, a move to profit from avoiding responsibilities for current and historical ecocide.

Still in Africa, there is a push for exploitation of oil in the Okavango Basin in Namibia/ Botswana, and insistence on drilling in Virunga (DRC) and in the Saloum Delta in Sénégal. We are already seeing the fires in Cabo Delgado in Mozambique and the resistance in South Africa. All these at a time when investment should be in clean energy modes.”

FIABCI-Nigeria Elects new Executive Members for 2022/2023 Fadekemi Ajakaiye The International Real Estate Federation Nigeria Chapter -FIABCI Nigeria has elected new Executive and Board Members to manage its affairs in 2022/2023.

The new members that were elected during FIABCI Nigeria’s Annual General Meeting held in Lagos recently included: President - Mr Gladstone Opara; Vice President - Mr Akin Opatola; Secretary General - Mr Ayodele Olamoju; Treasurer - Mrs Tolu Dima-Okojie; Publicity

Secretary - Mr Bawa-Allah; and Assistant Secretary General - Mr Alfred Osagie.

The Board Members are: Immediate Past President - Mr Adeniji Adele; Immediate Past Secretary General - Mr Ayodeji Odeleye; Immediate Past President FIABCI-Africa and Near East - Mr Joseph Akhigbe; and Young Member Committee President - Mrs Rei Obaigbo.

The Un-official Members are: Mr Gbenga Ismail; Mr Bolu Olanrewaju; Ms Ivie Idike; and Mr Frank Okosun.

The new executive team of FIABCI Nigeria, after their election… recently

Adeyoye: Annual Infrastructure Budget About 10% of National Requirement Bennett Oghifo The average annual budget on infrastructure in Nigeria is about 10 per cent of national requirement, with approximately $3 trillion required to close the infrastructure gap over the next 30 years.

Engr (Mrs) Aramide Adeyoye, Special Adviser, Works and Infrastructure to Lagos State Governor, Babajide Sanwo-Olu, stated this while discussing “the Impact of Infrastructure Collapse on Nigeria: How Professionals can Salvage the Situation”, at the 2022 Engr. Dr T.M. Olatunji Distinguished Annual Lecture, organised recently by the Nigerian Society of Engineers Ikeja branch.

Adeyoye described as apt and interesting the theme for this year’s lecture ‘The role of Professionalism in the prevention of infrastructure collapse in Nigeria – A call to action’.

According to her, “Recent data puts Nigeria’s infrastructure stock at 25 per cent of Gross Domestic Product (GDP) compared with 70 per cent which is the international benchmark. We cannot therefore as a nation afford continued Infrastructure collapse when there is a huge deficit.

It is instructive that Infrastructure must be sustained if it is to benefit coming generations and its provision must be seen as an investment that will pay off many times over in the future.

The prevention of infrastructure collapse as prevalent in Nigeria and other developing nations is therefore a matter to be looked at critically. The construction industry responsible for these infrastructure also accounts for a major proportion of the GDP of Nigeria.

“Therefore seeking to improve the efficiency of the industry is very essential in promoting the growth of the Nigerian economy. Infrastructure collapse occurs when the structure is no longer serviceable and unable to perform optimally the purpose for which the structure has been designed. This development portrays a bad image for the construction industry and professionals saddled with

this responsibility as huge resources, time and labour are wasted and the citizens are made to face the resulting hardship brought about by the infrastructure collapse.

She said there are several factors that could lead to infrastructure collapse varying from design error, wrong or non adherence to specifications, lack of quality control and quality assurance, little or no maintenance strategy in place, local and environmental conditions and abuse. It is important for professionalism to be exhibited in all stages of the infrastructure project cycle right from concept to planning to design to construction and maintenance stages.

“Professionalism is key to ensuring sustainability of infrastructure and professionals are therefore expected to exhibit a high level of professionalism by adhering to their professional ethics when discharging their duties. We have seen the collapse of new and existing infrastructure across the country because we are lacking from point of design to periodic assessment and maintenance.

“To curb incessant infrastructure collapse, using road infrastructure as reference, we in Lagos State Government from the planning stage of our road projects have adopted measures to curb their early deterioration Such measures include giving quality control and quality as-

surance high priority in our execution of road projects. Public Works Corporation for instance has an ISO certified laboratory that tests and ensures that all construction materials specifications are strictly adhered to in production and execution, and this explains the high premium asphalt being turned out by the agency for their construction and rehabilitation works.

Adequate provision is constantly made in the BEME for contracts to ensure the contractors test all materials being used at every stage of construction. We have also improved on our road specifications to ensure they last longer by enforcing use of interlocking stones of 45 MPA crushing strength.”

Julius Berger Extends CSR Initiative to FCT Schools As part of its planned and ever-expanding Corporate Social Responsibility, CSR initiatives, and in furtherance of its determination to meaningfully contribute and enhance the visionary development of students in its operational communities, Julius Berger Nigeria Plc has again donated educational books and writing materials to students of Government Secondary School Gwarinpa, Life camp, FCT, Abuja.

Addressing pupils and staff of the school, the leader of Julius Berger CSR team at the

event, Mr. Kola Balogun said the aim of the donation was to help the students improve in their literacy level and writing skills. He said, “Here at Julius Berger Nigeria Plc, the students’ wellbeing has always been our major concern and providing the necessary educational materials for conducive learning remains our priority. The Julius Berger literacy campaign will aid the students to always be at their very best performances. We are here to helpfully enable the students to put more efforts in their reading skills.”

Responding, the Principal of the School, Mrs. Irene Mojisola Akerele, appreciated the efforts made by the company saying, “Julius Berger has made a lasting donation in our school and I want to sincerely appreciate the company for its efforts and contributions so far. We are happy that the company has never stopped giving, especially to the schools in the FCT. These books will go a long way to assist the students’ and drive their zeal for reading. We thank Julius Berger for introducing this literacy campaign drive

to schools, because we desire that passion for reading in our students need to be boosted continually”. The principal added that,” …the donation of these books and writing materials to the students by Julius Berger will positively affect their academic development.” Mrs Irene Mojisola Akerele also noted that “…it is not the first time that Julius Berger has done remarkable contributions to our school and we will not forget the basketball court the company gave to us some years back.

Julius Berger is unknowingly creating lasting legacies that would not be forgotten in a hurry.”

The Vice Principal Admin, Mrs. Ugwu Josephine Chizoba, described the day as a very special one for the school. “I want to sincerely appreciate the management of Julius Berger Nigeria Plc for making today a very special day for our school.

The company has added a shine to the school by coming up with the Julius Berger literacy campaign to improve the learning ability of the Nigerian child.

As part of its Corporate Social Responsibility, the company has taken it upon itself to do this campaign and we are so privileged to be chosen as part of the schools to benefit from this developmental gesture. We are grateful to the company and we pray that God blesses the company tremendously.”

The Julius Berger delegation to the event was led by Mr. Kola Balogun. Other Julius Berger Nigeria Plc officials present at the event include, Michael Ashofor; Sunmonu Ayomide and Uzoma Olivia.

33

T H I S D AY ˾ TUESDAY JULY 19, 2022

FEATURES

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

FIDA: Fighting for Rights of Women, Children The International Federation of Women Lawyers, FIDA, Nigeria, Badagry Branch, recently held its maiden 2022 Law week where stakeholders explained why they are making concerted efforts to promote, protect and preserve the rights, interests and wellbeing of women and children in the society. Funmi Ogundare reports

Members of International Federation of Women Lawyers ( FIDA) Nigeria, during 2022 Law week of the Badagry Branch held in Lagos... recently

P

eeved by the spate of insecurity in the country, the International Federation of Women Lawyers ( FIDA) Nigeria, Badagry Branch, recently held its maiden 2022 Law week, themed, Insecurity and its Impact on Women and Children'.

The three-day programme, was aimed at promoting, protecting and preserving the rights, interests and wellbeing of women and children using the legal framework to ensure that they live free from all forms of discrimination, violence and abuse.

In his remarks, the Chairperson, FIDA Badagry, Mrs. Adaku Mbama said women and children are most vulnerable and at the receiving end having to grapple with incessant violence and apprehension of fear not knowing where, when and how the next form of insecurity and violence will come from.

She said the group offers pro- bono legal services including assistance to victims of domestic violence who have filed private criminal complaints against their abusers, assistance to victims/ survivors of Sexual Gender Based Violence ( SGBV), community education/ advocacy/ sensitisation on the rights of women and children, among others.

She stated that right from the school system, the girl-child should be empowered to be anything they want to be irrespective of their gender. " There has to be a reorientation of the girl-child that they can be the president of Nigeria and anything they want to be so that they don't feel inferior or see themselves as second class citizens, " she said.

The Vice Chairperson, Mrs. Carolyn Ibeh said the intervention of FIDA Badagry to end violence against women has directly led to transformational change in the lives of so many women and girls in some communities since its inauguration in September last year.

"FIDA is working at meeting the needs of women and girl survivors of violence by providing accomodation and empowering them. From inauguration till date, FIDA Badagry has handled over 70 cases, most

of them on domestic violence, child molestation and rape. " Some of these cases are settled after mediation, while those not settled by media, are filed in court for settlement."

In his keynote, a partner in the Dispute practice of Aluko and Oyebode, Mr. Chukwuka Ikwuazom, stressed the need for the federal government to make concerted efforts to recruit, train and deploy adequately equipped customs and immigration personnel across borders.

Ikwuazom who was represented by a Partner at Aluko and Oyebode Legal Practitioners, Mrs. Imabong Haastrup said the government needs to invest in more effective security technologies, which will benefit border security.

"The insecurity challenge in Nigeria has become a formidable challenge for the Nigerian government and peoples. I believe that same can be combatted through solidified border security, human and infrastructure development.

"The federal government must face the immediate challenge of boundary porosity and capitalise on demographic dividends by investing in health, education and livelihoods, especially for our young people."

He also stressed the need to draw a national development plan that requires the three levels of government, adding that there should be development projects in important sectors of national

life all at the same time.

The programme witnessed a panel discussion titled, 'Nigerian 2023 General Election: The Role of Women in the survival of Nigeria', where the panelists stressed the need for women to be the change they want to see through their strategic approach.

Chairman of the panel and a partner in the Dispute Resolution and Tax Practice Group of Templars Barristers and Solicitors, Mrs. Igonikon Adekunle affirmed that women should be on top of their game, be able to hold political offices and should not be projected as weaker vessel.

"There may be rules set by the men for the men, but women too must be able to play by the rules as men. As women, we need to begin to change the narrative and portray ourselves as equal and people will listen to you if they see the serious mindset."

She said women may have to compete with their male counterparts on established rules, as they have the power to influence the society.

"We must act in a way that will make us to be reckoned with. Women are generally hardworking and are capable of holding leadership positions. We should shun all forms of corruption which destroys many systems and nurture other young women.

The men are doing it, so we should also do that too," the chairman said.

She expressed concern that Nigerian women sometimes do not support their own saying that this explains why there is poor representation in public offices, adding that more advocacy and women empowerment drives, need to be carried out to ensure their participation in politics.

"We need to empower women and have structural arrangement and ensure review of legislation that will promote the growing

Right from the school system, the girl-child should be empowered to be anything they want to be irrespective of their gender

trend of women participation in politics.

We should begin to make our votes count." she said.

Adekunle said they should make conscious moves to promote hardwork and transparency as well as getting empowered, rather than be intimidated.

Principal Partner of Adeleke, Adegbite and Co, Mr. Adeleke Yusuf said women must be the change they long for and be directly involved in advocating change, adding they must also be the catalyst for the change process.

He emphasised on the number of women who had vie for public offices in the past, saying that they are very few compared with their male counterparts.

He admonished the women to grab the opportunity by being taking strategic steps to hold public offices rather than just voting alone.

"They must come up and participate effectively as power is not served a la carte.

There must also be strategic engagement with policy makers on the five gender bills, as well as a mindset change by dealing with religious and cultural prejudices," he stressed.

Principal Partner of Henry Ezulu and Associates, Mr. Henry Ezulu expressed concern that women are a bit laid back, induced by money and controlled by men which explains why women find it difficult winning an election in the country.

He listed some of the qualities women must have to be reckoned with, including being tactical, strategic and having good character. " As leaders, they must be honest, selfless, decisive, persevere, transformative and also be part of policy makers."

He explained that they should be able to look beyond their cultural and religious challenges demeaning women.

He said the girl-child should also be educated so as to give them a voice.

The three- day event witnessed the group's visit to Kirikiri Correctional facility to donate foodstuff to inmates, as well as a dinner.

34

TUESDAY, ͹΁˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

NDLEA CELEBRITY DRUG-FREE CLUB CONFERENCE...

L-R: Zonal Commander, NDLEA Zone B, Yola, Idris Bello; Comedian, Gbenga Adeyinka; CEO, Healthgarde International, Nneka Lovelyn Nwarueze, and Zonal Commander, NDLEA, Lagos, Segun Oke during the NDLEA Celebrity Drug-free Club Conference Against Drug Abuse held in Lagos ….yesterday

Tinubu, Adeboye Meet over Muslim-Muslim Ticket Adedayo Akinwale in Abuja

Presidential candidate of the All Progressives Congress (APC), Bola Tinubu, has met with the

General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, following the controversy trailing the Muslim-Muslim presidential

preference of the ruling party.

THISDAY had reported yesterday that Tinubu had set up a team of eminent persons with whom he was scheduled to meet

the Christian leaders within the party and faith-based organisations like the Christian Association of Nigeria (CAN), Pentecostal Fellowship of Nigeria (PFN) and the

Catholic, to appeal to them and secure their buy-in.

A source in the Tinubu Campaign team, who pleaded anonymity, informed THISDAY

Oyo Gets New Deputy Governor, Lawal, as Assembly Removes Olaniyan Kemi Olaitan in Ibadan Oyo State Chief Judge, Justice Munta Abimbola, yesterday swore in a former Attorney General and Commissioner for Justice, Chief Bayo Lawal, as the new Deputy Governor of the state.

Lawal, until his swearing-in, was the Chairman, Oyo State Housing Corporation and also recently announced as the running mate to Governor Seyi Makinde, for the 2023 governorship election.

The swearing-in and oath of office took place at the Executive Chamber of the Governor’s Office, Agodi Secretariat, Ibadan, Oyo State.

The event followed the removal from office of the former Deputy Governor, Rauf Olaniyan, after the members of the state House of Assembly, adopted the report of the seven-man panel set up by the Chief Judge to investigate him.

The panel, in the report, said Olaniyan was guilty of all the allegations leveled against him, which included gross misconduct, insubordination, financial recklessness, and abandonment of duties, among others.

Present at the swearing-in were top government functionaries like the Speaker, Oyo State House of Assembly, Hon. Adebo Ogundoyin, who led other principal officers of the Assembly, service commanders and party chieftains, among others.

Makinde, in a brief remark at the event, said the new deputy governor was chosen as a result of the successes he achieved in other capacities he had served under the current administration.

He said to his administration, the reward for hard work is more work, noting that the position of the deputy governor is that of trust while announcing some capacities and ministries that would be under the watch of the new deputy governor.

According to him, "I want

to start by welcoming our new Deputy Governor, His Excellency, Barrister Bayo Lawal, to the Oyo State Executive Council. I know you operated from this Exco chamber from 1999 to 2003 and I am sure a lot of things have changed between then and now.

"As we all know, you are already a part of this administration as the chairman of the Oyo State Housing Corporation. Your new position is evidence that you excelled in your role. But for us, as the saying goes, the reward for hard work is more work, and that is why we are giving you more work.

“The position is that of trust.

Our masters are the people of Oyo State and our responsibility is to continue to serve them to the best of our abilities and deliver good governance to them.

“Let me encourage you to put the interest of the people of Oyo State first. You will continue to supervise the Housing Corporation even from this position. Also, the Oyo State Road Maintenance Agency, OYSTROMA, will be under your direct supervision.

“Finally, you have operated as the Attorney-General of this state before. So, the Ministry of Justice will also be under your watch.

Our people expect so much from us because to whom much is given, much is expected. This is the campaign season but here in Oyo State, we will continue to work for the good of our people throughout this season."

Olaniyan, while speaking with journalists shortly after the swearing-in ceremony, appreciated Makinde for nominating him as his running mate for the 2023 governorship election, saying his debt of gratitude was limitless.

“I have to give my gratitude to His Excellency, the Governor of Oyo State, who nominated me as his running mate towards 2023.

My debt of gratitude is limitless.

“As you have witnessed this happen, I did not notice he was monitoring my activities as the chairman of the Housing Corporation, but it was manifested today."

He vowed not to abuse the privilege given to him as Deputy Governor, as according to him, the position of the Deputy Governor is meant to advise and assist the governor of the state and a trust to the constitution and the governor of the state.

“This is a challenge to me as a person and to all of us in Oyo State to cooperate, with the view of moving the government forward in all ramifications,” he said.

The state woke up to a surprise yesterday morning, when the state lawmakers during plenary presented the report of the panel for consideration.

It could not, however, be confirmed when the report was submitted to the Assembly.

The panel which was set up on Thursday, July 14, started and finished its work within five days out of the three month maximum lifespan given to it by the House.

Heavy security presence was observed at the House of Assembly complex with many security patrol vans stationed at the entrance and strategic locations around the complex.

No fewer than 23 lawmakers of the ruling Peoples Democratic Party (PDP) attended the plenary.

The eight lawmakers on the platform of the opposition All Progressives Congress (APC),however, boycotted the plenary.

It was learnt that the panel began its sitting immediately after it was

inaugurated last week Thursday and sat all through the weekend.

The impeached former deputy governor had last week Friday raised the alarm that he received an invitation letter to appear before the panel about 15 minutes to the time of the sitting.

It was gathered that while the panel announced the House of Chiefs Complex as the venue for its sitting, it held its sitting in a private facility within the House of Assembly complex.

The lawmakers, after announcing the removal of Olaniyan, went on a short recess indicating that the office could not be left vacant.

While reconvening about 30 minutes later, the house presented a nomination letter from the governor communicating Lawal as a replacement to Olaniyan.

that the plan, which was going to be a holistic approach to the crisis, was to make the Christian community see reasons behind the Muslim-Muslim ticket, adding that Tinubu decided to lead a team to appeal to the Christian community.

But THISDAY yesterday gathered that the meeting with Adeboye was actually held on Sunday at the Redemption camp.

A reliable source, who also pleaded anonymity, told THISDAY that the meeting with Adeboye was very fruitful, adding that the clergy was not against a Muslim-Muslim ticket.

Though THISDAY could not confirm those on Tinubu's entourage to the meeting with Adeboye, it was reliably gathered that the wife of the presidential hopeful, Senator Oluremi,was there.

"He met Adeboye on Sunday.

The meeting was very fruitful. He (Adeboye) is not against MuslimMuslim ticket," the source said.

Asked who was with Tinubu at the meeting with Adeboye, the source insisted "his wife", stressing that Tinubu would soon meet with the leadership of CAN.

How Nerds Unite 2022 Highlighted Power of Global Interconnection for W’African Businesses The critical role of infrastructure for the global interconnection of West African enterprises to achieve borderless growth was the main theme of the keynote address at MainOne’s Nerds Unite 2022, held recently.

The event which took place recently, was MainOne’s flagship customer event that brought industry experts together with MainOne customers to discuss trends and opportunities in the Digital economy.

In this year’s keynote speech

by Vice President, Growth and Emerging Markets at Equinix, Judith Gardiner, was quoted in a statement to have said Equinix would be a prime mover in interconnecting Africa with the rest of the world on its global digital infrastructure platform, enabling access to virtual network services through the MainOne data centers

and network.

She emphasised the role that Equinix had played in other geographies, adding that the acquisition of MainOne was a key part of Equinix long-term strategy to become a leading African carrier-neutral digital infrastructure company in Africa.

“Businesses in Lagos, Accra, and Abidjan now have equal access to the power of Platform Equinix’s entire data center network, connecting into the same network as some of the biggest multinational companies in the world,” she added.

“By supporting the growth and maturity of digital infrastructure in Nigeria and West Africa, we believe that the Equinix acquisition of MainOne will be transformational across several sectors of the economy including financial services, content and digital media and many of the enterprise sectors,”

she said.

Globally, the Equinix Platform is comprised of over 240 data centers, providing digital infrastructure, colocation and interconnection services to over 10,000+ companies including more than half of the Fortune 500 and more than onethird of the Forbes Global 2000.

The two-hour virtual event featured two-panel sessions. The first panel included top executives from Meta, Tizeti, Lagos Free Zone, Eko Electricity Distribution Company discussing the theme “Unlocking Growth through an Interconnected Global Digital Infrastructure” - expanding on the opportunities that global digital infrastructure offers to Pan-African focused organisations.

The second panel focused on “Maximising Business Efficiency and Minimizing Talent Drain and Rising CAPEX through IT

Outsourcing,” and included a discussion with executives from leading businesses such as HPE

by Selectium, Access Bank, NIBSS, and Deloitte shed light.

Funke Opeke, CEO of MainOne, an Equinix company, maintained that with the pandemic induced recession and high rates of inflation, technology will be responsible for propelling the growth of many African economies. MainOne will continue to drive this tech-fueled growth through the expanded capabilities now available to West African enterprises. In her words, she highlighted the Equinix entry into Africa through MainOne, with the objective of integrating MainOne facilities into the global Equinix Fabric platform. Businesses can now enjoy borderless growth right here in our region through the power of global interconnection that Equinix brings.

35

TUESDAY, ͹΁˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

DUTY TOUR...

Edo State Acting Governor, Philip Shaibu (left), during an inspection of ongoing project at the Benin Technical College, in Benin City…yesterday

2023: INEC in Talks with CBN over Election Materials Storage, Says Okoye Chuks Okocha in Abuja National Commissioner for Information and Chairman, Voter Education of the Independent National Electoral Commission (INEC), Festus Okoye, has said the commission was going to have talks with the Central Bank of Nigeria to try and resolve issues concerning

the storage of election materials ahead of the 2023 general election.

In June, the INEC Chairman, Professor Mahmood Yakubu, had stated that sensitive election materials would no longer be “routed” through the apex bank as the “current circumstances”, would require an alternative by the body for its storage solutions.

This followed the controversy surrounding the CBN governor, Godwin Emefiele’s alleged political ambition for the presidency.

Speaking in a television programme monitored in Abuja, Okoye said INEC was in for a logistics nightmare if it didn’t have a form of parley with the CBN over its election materials

storage issues.

According to the INEC national commissioner, “It’s going to be a huge logistics nightmare. What we intend to do, going forward, since there are issues with keeping our materials with CBN. “We have not had enough opportunity to sit down with the Central Bank to review the

Wike to Award Contract for Two More Flyovers Blessing Ibunge in Port Harcourt Rivers State Governor, Nyesom Wike, yesterday said the state government has concluded plans to award contract for two additional flyovers to reduce traffic congestion in Port Harcourt and its environs.

The governor said the two flyovers which would be the eleventh and twelfth respectively to be awarded by his administration since 2019, would be located at Rumuokuta and NTA-Choba Road in Obio-Akpor Local Government Area, and expected to be completed within the next 10 months.

Wike disclosed this after inspecting ongoing construction work at the Dr. Peter Odili Cancer

and Cardiovascular Disease Diagnostic and Treatment Centre, the Ogbum-nu-Abali sandfill, Rumueprikom, Orochiri-Worukwo, Nkpolu-Oroworukwo flyovers in Port Harcourt.

He maintained that his administration’s huge investment in infrastructure in the past seven years had undeniably laid solid foundation for sustainable growth of Rivers State.

According to him, the performance of his administration would indisputably ensure the electoral victory of the Peoples Democratic Party (PDP) candidates for the office of the governor, Senate, House of Representatives and State Assembly in the 2023 general elections.

“We are going to award 11th and 12th flyovers any moment from now. I have made the promise before and I am not going to go back. It will be record breaking in the history of this country that a State government was able to embark on 12 flyovers, not in 8 years.

“You'll remember these flyovers started in 2019, my second tenure.

It is not that we started in 2015.

“For you to do 12 flyovers in four years time, I don't see who has broken that kind of record. It is commitment. This is the campaign for us. This is the campaign for those who are running for Senate, campaign for those who are running for House of Reps, campaign for

Nigeria Needs More Lawyers, Says Azinge As law school class of '80 holds anniversary, announces N5m endowment fund for law school students Alex Enumah in Abuja A Professor of Law and former boss of the Nigerian Institute of Advance Legal Studies (NIALS), Prof. Epiphany Azinge, yesterday stated that the current number of practicing lawyers in the country was not enough to meet the demand for legal services in the country.

Azinge, who stated this while responding to journalists' question on the alleged proliferation of law faculties, especially by private universities, described the over 100,000 lawyers in the country as a, "drop in the ocean."

The law professor was addressing journalists on the schedule of activities for the celebration of the 42nd anniversary of the Law School Class of 1980.

Azinge said, "with Nigeria's

population of about 200 million, the present number of lawyers which is around 100,000 plus is just like a drop in the ocean. So, you see, we need more lawyers."

He, however, appealed to relevant authorities and institutions to make standard the watchword, particularly at the primary and secondary school levels.

The former NIALS boss also commended the recent judgment of the National Industrial Court, that ordered for the increase in the salaries and allowances of judicial officers.

According to him, the nation's judiciary deserves the best and should be treated as such.

He argued said the government cannot be accusing judges of corruption and at the end of the day still starving them of funds.

"Free them, give them what

they are entitled to and then allow them to express themselves then you will see that all things about corruption on the bench will go away," he stated.

Azinge, however, disclosed that as part of activities of the Class of 1980, a special endowment fund of N5 million would be donated to the Law School to provide yearly award for the best female and male students.

He argued that if others are making regular contributions to the law school or other places they belong, they would be contributing to the development of the country.

The set, he further disclosed would visit the Law School Headquarters in Abuja and other places of interest in the FCT as well as hold public lectures on current national issues.

those who are running for House of Assembly, campaign for those who are running for governor. We have shown to the world that we can do it and we have done it.

“And I do know my successor will take from what we have done because he is part of what is going on in government. He knows everything. He will not want to bring down the standard.

The standard we have set in this state, it will be difficult for anybody to bring it down. For me, I am very happy."

Wike revealed that the state government would through an irrevocable standing order fund the two additional flyovers from its internally generated revenue.

He expressed delight that his administration has been able to fulfil its social contract with the people of Rivers State, whose support in the last seven years have been overwhelming.

“You must give the people the best. Rivers people deserve the best and whatever it takes for me to give Rivers people the best I will do it; it doesn't matter how much it will cost me. What is important is Rivers people getting the best in their lives.

“And nobody in Rivers State today, except you're very wicked, except in your DNA is wickedness, that will not be happy with what we have done," he added.

Wike noted that Nigerians were beginning to prove that politicians cannot no longer take them for a ride by making promises that they cannot fulfill. According to him, the PDP in the State has performed and Rivers residents could attest to it.

The governor declared that Rivers people will never allow those who conspired with their cronies to defraud the state of its assets while in office to impose a governor on them.

entire issue surrounding moving our material with the Nigerian Air force.

“We are definitely going to do that. If at the end of the day, we are not satisfied with the arrangement, then, we are going to look for a new logistics pathway for how to manage logistics during the 2023 elections. But no decision has been made," Okoye said.

Okoye also insisted that in the recently concluded governorship elections in Ekiti and Osun, the storage measures for the two states would not be tenable, going into the general election in 2023.

He stressed further that, “You cannot use the Ekiti governorship election and Osun governorship election as a measure of what will happen in 2023. This is because, for

instance, in the Ekiti governorship election, we had less than a million registered voters. In the Osun governorship election, we were shy of two million registered voters.

“These are stand-alone elections.

For the Ekiti election, we utilised the service of the Nigerian Air force and they flew the materials into Akure airport. We did the same thing with the Osun election, and we moved the materials to our state offices.

“But for the 2023 general election, we are going to have over 95 million ballot papers printed for the presidential election. Over 95 million will be printed for the senatorial election; over 95 million papers will be printed for the house of representatives election. Then it goes down.”

Flood Control: Lagos PPP Office Warns Residents against Clogging Drainages The Lagos State Government through the Office of Public-Private Partnerships (PPP) has again warned residents of the state to refrain from clogging drains with silt in order to prevent flooding and the attendant threat to lives and property during the rainy season.

Special Adviser to the Governor on Public-Private Partnerships, Mr. Ope George, who gave the advice against the backdrop of recent flash floods witnessed across the state as a result of heavy downpour, also appealed to motorists to avoid driving through flooded areas during rainfall in order to prevent avoidable accidents and loss of lives.

George, in a statement issued by the PPP Office, frowned at the indiscriminate dumping of refuse in drainages by some disobedient residents despite strident awareness and warnings by the state government on the dangers of clogging the drains with refuse.

While lamenting the poor attitude of many residents to the environment, he stated that the recent flooding and the subsequent loss of lives and property were avoidable if all residents had heeded the advice not to block the drains with waste.

“We are all aware that Lagos is vulnerable to the effects of climate

change. The rains are here again, and the weather forecasts have shown that we should expect a lot of rain this year.

“Clogging the drains with silt and refuse puts all of us at risk of preventable flooding and attendant threat to lives and property during the rainy season. Therefore, let us desist from indiscriminate dumping of refuse on water channels. Motorists should also avoid driving through flooded areas during rainfall in order to prevent avoidable accidents and loss of lives,’’ he pleaded.

George further decried the poor attitude of many residents to the environment as impacting negatively on the efforts and huge investments made by the state government to ensure a flood-free Lagos. ‘‘Flood control is a key component of the T.H.E.M.E Agenda of Governor Babajide Sanwo-Olu's administration because a flood-free Lagos is critical to the realisation of the Greater Lagos vision.

“A good environment will promote the inflow of foreign and local investments as well as raise the quality of life for Lagos residents. So, as citizens, we must play our part by ensuring we clean, clear, and dredge our drains and major collectors for the proper discharge of rain waters,’’ he said.

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NEWS

Army Repels Bandits Attack on Military Base in Niger Laleye Dipo in Minna Scores of bandits yesterday morning attempted to invade the military base in Sarkinpawa town in the Munya Local Government Area of Niger state but were repelled by soldiers according to reports from the area.

The Niger State Commissioner for Internal Security and Humanitarian Affairs, Mr. Emmanuel Umar confirmed to THISDAY on phone that the “attack took place but there is no casualty on the part of the soldiers “The bandits suffered heavy losses, but i am yet to get the number of people that were killed” Umar said before adding that the Brigade Commander confirmed the incident to him.

The Chairman of the local government, Alhaji Garba Mohammed, when also contacted confirmed the story, saying the terrorists invaded the camp on foot.

According to Mohammed, the terrorists demobilised the vehicles and motorcycles in the camp and started shouting

Alahu Akbar before embarking on sporadic shooting Mohammed confirmed that the soldiers did not suffer any casualty but that some shoes and caps belonging

to the terrorists were seen on the ground in the camp, adding that “ We also saw many patches of blood on the ground”.

One of the Co- conveners

of the Concerned Shiroro Youths, Comrade Salis Sabo, in a statement also confirmed the attack on the military base in Sarkinpawa.

In the statement Sabo

said: “In the wee hours of today(yesterday) at exactly 2:15am, terrorists in an attempt to lay ambush on our security men, invaded the military camp in Sarkin Pawa, the

headquarters of Munya Local Government of Niger State.

“Unfortunately for the terrorists, the gallant soldiers were on alert even at that late hours of the night.”

MEDICAL OUTREACH...

L-R: Keynote Speaker, Prof. Ayoola Olurotimi Coker; Executive Director, Boskoh HMI, Mrs. Nike Osa; Chairman, Lagos State Primary Health Care Board, Prof. Akin Oshibogu, and First Lady of Lagos State, Mrs. Ibijoke Claudiana Sanwo-Olu, at the volunteer training to kick start 2022 Boskoh HMI Medical Outreach in Lagos… recently ETOP UKUTT

Walid Jibrin: PDP Will NSCDC Apprehends Eight, Seizes Seven Trucks of Adulterated AGO in A’Ibom Arrests suspected kidnapper in Kwara Sweep 2023 Polls John Shiklam in Kaduna The Chairman of the Peoples Democratic Party (PDP) Board of Trustees (BoT), Senator Walid Jibrin, has said that the victory of the party in the just concluded Osun state governorship election is an indication that the PDP will sweep the 2023 polls.

He also said the MuslimMuslim ticket of the ruling All Progressives Congress (APC) will not work as it will further divide Nigerians along religious line.

In a statement yesterday, congratulating Senator Ademola Adeleke, for winning Saturday’s governorship election in Osun, Jibrin said he was optimistic

that Adeleke will win.

He decried politics of religion, saying it is “the highest level of division among citizens and capable of breeding confusion and war on a people that have been existing peacefully.”

Jibrin said: “When you look at the life of our Prophet Muhammad, when they were killing Muslims in Mecca, he (Prophet Muhammad) asked them to come and he gave them a letter to give to one Christian King and the Muslim who were being killed in Mecca went to that Christian King, the king received them, gave them land, he gave them everything, he lived with them. Is there any division there?

2023: Nigerians in Diaspora Declare Support for Atiku Adedayo Akinwale in Abuja

Nigerians in Diaspora under the aegis of Democracy Vanguard of Nigeria in Diaspora (DVND) has declared support for the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, saying his aspiration raised hope.

The group in a statement issued yesterday by its Director-General, T.A Sule and Vice President, Prince Anozie Ugenyi vowed to raise funds in support of the project.

It said Abubakar has historically remained the one political leader whose every action and utterance,

has reflected an understanding of Nigeria’s deep-rooted challenges.

It stated: “It is to this end that we have decided to mobilize our relatives back home to get their PVCs and go out in their numbers to exercise their franchise in order to guarantee a safer, more united and prosperous country.

“We also hereby declare to raise requisite funds to support this project as we all look forward to one day returning to a safer, more united and prosperous country. It is an exciting certainty that we who live in other countries share Atiku’s vision of an all-inclusive plan for us.”

Kano Bans Tricycles Operations after 10pm

Ibrahim Shuaibu in Kano

The Kano State Government has banned the operation of commercial tricyclists, popularly known as “A Daidata Sahu,” from 10 p.m. to 6 a.m. with effect from Thursday, July 21, 2022.

A statement by the Kano State Commissioner for Information, Mr. Muhammad Garba, which was made available to THISDAY yesterdayday, indicated that the decision was reached after the State Security Council’s (SEC) meeting.

Garba explained that the

measure was part of an effort to ensure security of lives and property in the state and urged the tricyclists to comply with the new directive because security agents would enforce the ban without compromise.

THISDAY in Kano discovered that phone snatching with dangerous weapons among miscreants popularly known as “Yandaba” has now become a daily phenomenon.

This act, which is being perpetrated by miscreants, had led to the killing of unsuspecting persons especially in Kano metropolis.

Ahmed Shitu in Ilorin

The Nigeria Security and Civil Defence Corps (NSCDC) has apprehended eight suspects and impounded seven trucks containing 315, 000 litres of suspected adulterated Automotive Gas Oil (AGO) in Akwa Ibom.

This is just as NSCDC Kwara Command arrested a 40-year-

old suspected kidnapper at Owode near Banni in Kaiama Local Government Area.

The NSCDC Commandant in Akwa Ibom, Mr Suleman Mafara, disclosed the arrest in Akwa Ibom yesterday while addressing newsmen at the command’s exhibits yard in Uyo. Mafara said the suspects were arrested based on intelligence and surveillance by operatives

of the Anti Vandals unit of the NSCDC Akwa Ibom command on July 7 along Calabar-Itu highway, barely 24 hours after his assumption of duty in the state.

He said that the command would not relent on its mandate of protecting government critical assets and infrastructure from vandalism.

He said the activities of

vandals and criminals were economic sabotage, adding that the command would not give them any breathing space to operate in the state.

“Today being Monday 18 July, 2022 the Nigeria Security and Civil Defence Corps (NSCDC), Akwa Ibom Command is parading eight suspects arrested in possession of AGO obtained through illegal means.

Police Arrest Husband of Woman Who Allegedly Committed Suicide in Edo Adibe Emenyonu in Benin City

A 27-year-old woman identified as Mrs Cynthia Agho, has allegedly committed suicide in Benin City, the Edo State capital.

However, the husband of the woman, Emmanuel Omoru, has been arrested by the police following rumour that he may have killed the wife but faked it as suicide.

It was gathered that the woman was found dangling with a rope on her neck tied to the ceiling fan in her bedroom apartment along Lucky Way area of Aduwawa, Benin City.

The Edo State Police Spokesperson, Chidi Nwanbuzor, who confirmed the incident, said it happened at No 10, Omozese street, off street 2, off Lucky way, Aduwawa areas of Benin City,

According to Nwabuzor, “It is a case of suspected suicide.

On July 7, the control room of Aduwawa police station received a distress call that a certain woman committed suicide by hanging at No 10, Omozese street, off street 2, off Lucky Way, Aduwawa Benin City.”

He said: “When the police visited the scene of the crime, they met a certain woman

who was later identified by her husband, one Emmanual Omoru as Mrs. Cynthia Agho, 27, swinging in a rope tied to the ceiling fan inside in her bedroom.

“A stool was found under the ceiling fan, the corpse was photographed, lowered down and evacuated to the police hospital morgue for autopsy.

No written note was found at the scene.”

YIAGA Africa Wants INEC to Audit Newly Created Polling Stations Chuks Okocha in Abuja and Yinka Kolawole in Osogbo YIAGA Africa, a pro election coalition group that monitored last Osun State governorship election has called on the Independent National Electoral Commission (INEC) to audit the newly created polling stations across the country for the purposes of ensuring

equitable distribution of voters during election.

In a report by the YIAGA chair, Hussein Abdu and Executive Director Samson Itodo made available said: “YIAGA Africa calls on INEC to audit the newly created polling units and ensure equitable distribution of voters to the polling units. In cases where voters have been allotted

to new polling units, INEC should update the voter records on its website and communicate the changes to prevent voter disenfranchisement,” the group stated.

YIAGAAfrica also commended the people of Osun for their resilience and commitment to a non-violent election.

They said: “We encourage the

voters to sustain their participation in the electoral process beyond the elections by holding political parties and candidates accountable for their campaign promises.

YIAGAAfrica would like to thank the many Nigerians across the state who volunteered to serve as non-partisan WTV citizen observers on behalf of all the people of Osun. “

Diri Gets Rousing Welcome after Osun Election Victory Olusegun Samuel inYenagoa The Bayelsa State Governor, Senator Douye Diri, who was the Chairman of the National Campaign Council of the Peoples Democratic Party (PDP) for the Osun State Governorship election, arrived Yenagoa, the state capital to a rousing welcome from thousands of party faithful for his role in the

victory of Ademola Adeleke in the Osun State Governorship election on Saturday.

Diri, who was caught unaware by the multitude of supporters at the Bayelsa International Airport and the Peace park, venue of the welcome rally, declared that the victory of the PDP’s candidate, Senator Ademola Adeleke, was due to prayers and hard work by party faithful at the

state and the national levels.

The governor revealed that when naysayers were predicting a loss for the PDP because he was made the Chairman of the National Campaign Council of the Party, he went to God in Prayers and his prayers were backed with the resolutions of frictions within the party in Osun.

He said: “God answered our prayers because we challenged Him

that naysayers were challenging Him and not PDP or myself.”

The Bayelsa governor also commended the Independent National Electoral Commission (INEC), the security agencies and others involved in the conduct of Osun election, insisting that the election in Osun was the first properly conducted by the electoral commission in years.

Cultism: Police to Investigate Portable over ‘One Million Boys’ Formation Sunday Ehigiator and Rebecca Ejifoma The Nigeria Police Force has revealed that it shall commence investigation on a Nigerian controversial singer, Habib Okikiola, popularly known as ‘Portable’, over

his claims of founding a notorious cult group known as ‘One-million Boys’ in Lagos state.

This was made known through a statement signed by the Force PRO, CSP Olumuyiwa Adejobi.

The ‘Zazu Zeh’ crooner had

claimed in a trending video uploaded on his Instagram handle @portable, that he not only founded the dreadful ‘Ajah Boys’ cult group but likewise the ‘One-million Boys’ cult group which both terrorized some parts of Lagos State, during the

COVID-19 lockdown in 2020.

In the video, which is now deleted, Portable, who spoke in Yoruba dialect, boasted: “Open your ears and hear me. Have you heard about Ajah Boys, One Million Boys, I founded them. Go and ask Sammy Larry.”

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NEWSXTRA

NDLEA Witness Testifies in Alleged Drug Deal against Abba Kyari, Others The National Drug Law Enforcement Agency (NDLEA)’s first prosecution witness, Mrs. Patricia Afolabi, yesterday testified in the alleged drug offence preferred against Deputy Commissioner of Police Abba Kyari and others.

Afolabi, who is a Commander of Narcotics in the agency, was led in evidence by prosecution counsel, Sunday Joseph, before Justice Emeka Nwite of a Federal High Court, Abuja.

The witness told the court that part of her job specification involves receiving and conducting forensic analysis on drug exhibits.

She told the court that she had on February 7, received from the Forensic Liaison Officer of the agency, Abubakar Aliyu, one sealed transparent evidence pack containing 24 dispensing pack each.

She said that each of the parks contained white substance measured at 0.5grams.

She said the package also contained a request form for

analysis.

“From the analysis I conducted, which were labelled Exhibit A-X, I found out that 21 of the exhibits contained cocaine, while Exhibit H to G were found to be negative.

“I then issued an analysis report of my findings, which I signed and sealed. I repacked them as exhibits in a large envelope and addressed it to O.C. NDLEA Abuja,” she said.

Joseph, who is the director

of Legal and Prosecution Department of the NDLEA, apply to tender the 21 cocaine packs in evidence.

The defence counsel did not object to the application, Justice Nwite admitted the exhibits in

evidence.

While cross examining the witness, Kyari’s lawyer, Onyechi Ikpeazu, SAN, asked her if it was true that every suspect in a drug deal must be present before analysis is conducted, a

question the witness answered in the negative.

She said it was not customary that all suspects would be present when substances are also handed over for analysis.

CELEBRATING WORLD PR DAY. . .

L-R: Managing Director and Editor-in-chief, The Guardian Nigeria, Martins Oloja; Founder and CEO, LSF PR, Bidemi Zakariyau Akande; Founder and CEO, BHM Group, Ayeni Adekunle; Managing Partner, GLG Communications, Omawumi Ogbe; Group CEO of RED | For Africa, Adebola Williams, and Africa Regions Executive Head, Brand and Corporate Communications, Standard Bank Group, Nkiru Olumide-Ojo, at the World PR Day Cocktail Reception organised by GLG Communications in Lagos…recently

A’Ibom Senator Dumps Sack Leaders Blaming Insecurity Victims, Kwankwanso Tells Nigerians Formally unveils VP candidate PDP for YPP Okon Bassey in Uyo

After months of rumours, the 2023 Frontline Gubernatorial Aspirant of the Peoples’ Democratic Party (PDP), Akwa Ibom State, Senator Bassey Albert Akpan, has officially dumped the party for the Young Progressive Party (YPP) in the state.

Akpan, who is representing Akwa Ibom North-east (Uyo) Senatorial District in the National Assembly, announced his movement to the YPP with his wife and no fewer than 5, 000 supporters yesterday.

Akpan, popularly known as ‘OBA,’ reportedly resigned his membership of PDP on July

15, 2023.

He was welcomed into his new party in a ceremony held in his hometown, Ibiono Ibom Eastern Ward 1, and witnessed by crowd of supporters and well-wishers.

The senator and his wife, Imaobong, who enjoy mass followership of their people, picked membership cards number 3887 and 5006, respectively.

After the duo had completed the party membership registration formalities before the ward chairman, their cards were later presented to them by the State Chairman of YPP, Pastor Nyenime Andy, on behalf of the party.

Kuni Tyessi in Abuja

Ahead of the 2023 presidential elections, the presidential candidate of the New Nigeria People’s Party (NNPP) Sen Rabiu Musa Kwankwanso has called on Nigerians to sack leaders that have continuously

blamed victims of insecurity in the country.

According to Kwankwanso, instead of fixing the insecurity challenges, the leaders who have failed are now blaming the victims of insecurity, ignoring their plight.

Speaking during the

unveiling of his presidential running mate, Bishop Isaac Idahosa in Abuja, Kwankwanso said they will leave no stone unturned to rescue Nigeria from bad leaders.

“Together, we must leave no stone unturned for a new and

a better Nigeria where justice and fairness rule, a Nigeria where peace, security is guaranteed. We want a Nigeria where unity and opportunity is available, a Nigeria which can be ruled by selfless leaders with integrity and competence, “ Kwankwanso said.

Terrorists Abduct Four Housewives, Five Others in Katsina Community Francis Sardauna in Katsina No fewer than four housewives and five other residents of Shema Quarters in Dutsin-Ma Local Government Area of Katsina State were last Sunday abducted by gunmen suspected to be terrorists who defied a heavy downpour to attack the residential area.

The suspected terrorists, who

stormed the quarters located in Dutsin-Ma town about 11:30a.m. in large numbers, were said to have operated for about three hours before the arrival of some security operatives.

A credible source told THISDAY in a telephone interview yesterday that the hoodlums invaded the quarters during a heavy downpour brandishing AK-47 rifles, arrows

and machetes when most of the residents were asleep.

The state Police Public Relations Officer, SP Gambo Isah, also confirmed the incident, saying: “Yes, there was an attack.

I am aware of it but I can’t give the full account of it because the report I have is still sketchy.”

But the source said the terrorists ransacked the residence of one Usman Abdullahi Yarima

and abducted his two wives and three other members of the family before moving to Abdulraziz Lawal’s house, where they also kidnapped his two wives and two other relatives.

He added that husbands of the abducted housewives, who were overpowered by the motorcycle-riding terrorists, scampered for safety which led to the abduction of the victims.

Government Area of the state, would be running alongside Mr. Hakeem Oladimeji Lawal, the scion of former Governor of Kwara State, Late Muhammed Alabi Lawal, who emerged the governorship flag bearer of the party in its May 31 primaries.

A statement that was issued in Ilorin yesterday and signed by the Chairman of the SDP,

Mr. Azeez Afolabi, said that the deputy governorship candidate is a University of Ibadan trained lecturer and clergyman, who rose through the ranks to become a Chief Lecturer at the Kwara State College of Education, Oro, before his retirement in 2008.

The statement said that Olakunle also bagged a Bachelor of Library and Information Science (LIS) and

Masters in Religious Studies from the prestigious University of Ibadan in 1983 and 1988 respectively, and a Postgraduate Diploma in Education from University of Ilorin in 1994.

The statement described him as an “astute academician is a passionate community leader who has served Kwara South socio-cultural groups and Igbomina land.”

Another Rivers APC Chieftain, Tolofari, Resigns Former CAN Leader Named SDP Deputy Governorship Candidate in Kwara Transport Minister, Chibuike Rotimi Blessing IbungeinPortHarcourt Former Rivers State Commissioner for Transport, George Fubara Tolofari, has dumped the All Progressives Congress (APC).

Tolofari in a resignation letter addressed to the Chairman of his APC Ward 12, Bonny Local Government Area yesterday, said he decided to quit the party because he was no longer convinced of the APC led federal government promises to salvage the country of insecurity, corruption and injustice.

Tolofari, who is a strong supporter of the immediate past

Amaechi, noted that the mentioned vices has continued to threaten the existence of Nigeria as a nation.

He said: “Joining the APC was based on personal conviction, but having reviewed the general state of affairs of the APC led government in the country, I’m no longer convinced of my continued stay in the party.The APC came on the mantra of anti-corruption, justice, equity and insecurity. But today that hope is dashed as insecurity, corruption and injustice stare us squarely in the face and threaten the very existence of our beloved country.”

Actress Ada Ameh of ‘The Johnsons’ Dies in Delta Sylvester IdowuinWarri The entertainment industry has again been thrown into a state of mourning as another famous Nollywood actress, comedian and television personality, Ada Ameh is dead.

She died at about 11 p.m. on Sunday in Warri, Delta State after she was rushed to the hospital.

According to sources, Ameh had been a guest of an oil company when she suddenly collapsed.

It was gathered that she was immediately rushed to the Nigerian National Petroleum Corporation’s

hospital where she was confirmed dead.

Ada Ameh, 48 years, who became popular for her role in the sitcom “The Johnsons” currently showing on Africa Magic, not too long, shared a video on Instagram saying that she is “facing a problem that’s about taking her life”.

The actress, who lost her only child in 2020 stated: “ I have an issue right now and it’s taking my life but I no go die. We would get over it. I was given a job but I didn’t do it because I have mental health issues.

Hammed Shittu inIlorin

A former leader of the Christian Association of Nigeria (CAN) in Kwara State, Rev. Joshua Olakunle, has been named the deputy governorship candidate of the Social Democratic Party (SDP) for next year’s general election.

Rev. Olakunle, who hailed from Ora in Ifelodun Local

Stakeholders Back Emenike’s Abia Guber Candidacy Emmanuel Ugwu-Nwogo in Umuahia

Stakeholders from across Abia State have continued to drum support for the governorship candidate of the All Progressives Congress (APC), High Chief Ikechi Emenike, saying that if elected governor next year his administration would yield

bountiful dividends for the state.

Stakeholders, who spoke at a meeting held in Umuahia expressed their delight that Abia APC has finally got it acts together and has, for the first time, entrusted its governorship ticket to a capable hand, in the person of High Chief Emenike.

Minority Leader of Abia House od Assembly, Hon

Chijioke Chukwu noted that the emergence of Emenike as the APC governorship standard-bearer has sent strong signal to the ruling party that the game is over as their occupation of government house would end next year.

“The battle has just started. We must work very hard to to sing victory song in 2023,” he said, adding that the past electoral

disappointments have been put behind as APC is now more formidable with Emenike leading the charge to uproot the ruling party from Abia government house.

“Yesterday is gone. Today is ours and tomorrow will be better,” the lawmaker, who represents Arochukwu state constituency, declared.

Police Confirm Killing of Polytechnic Lecturer in Adamawa Daji Sani in Yola Adamawa State Police Command has confirmed the death of the state polytechnic lecturer, Mallam Bzegu, who was killed by gunmen at the early hour of last Thursday at his Bajabure residence, a suburb of Yola metropolis.

The confirmation was

made by the spokesperson of the state Police Command, SP Sulieman Nguroje, who identified the deceased as a lecturer with the department of Mechanical Engineering in the state polytechnic Yola.

While confirming the incident, Nguroje said: “The state Commissioner of Police, Sikiru Akande, visited the crime

scene earlier today (yesterday) and directed that immediate investigation be conducted with a view to apprehending the perpetrators of the crime.

“Killings by gunmen are increasing in the state and causing sleepless nights to many residents.”

Meanwhile, an eyewitness said the assailants reportedly

broke into the lecturer’s house and fired multiple shots into his chest until he was dead, while his wife looked haplessly.

According to the eyewitness, “The gunmen stormed the deceased residence at about 3a.m. last Thursday and broke into his house,” adding that they only murdered the lecturer but did not take any of his belongings.

TUESDAY, ͹΁˜ ͺ͸ͺͺ ˾ T H I S D AY

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TUESDAYSPORTS

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

0811 181 3083 SMS ONLY

Morocco Edge Gallant Super Falcons in Shootouts Atlas Lionesses to play Banyana Banyana in Sunday’s final

Duro Ikhazuagbe

Nigeria’s Super Falcons lost there bid to advance to the final of the 2022 Women’s Africa Cup of Nations (WAFCON) in Rabat as they were beaten 5-4 in penalty shootouts. Regular and extra time had deadlocked at 1-1 after 120 minutes.

The gallant Nigerian ladies were reduced to nine players after both Halimat Ayinde and Rasheedat Ajibade were sent off for dangerous play deep into

WA F C O N 2 0 2 2 the second half.

Yet the Moroccans with full capacity home support, could not defeat Falcons until top striker, Ifeoma Onumonu missed her penalty kick in the shootouts. Atlas Lionesses goalkeeper, Khadija Er-Rmici, denied Onumonu in the shootouts. Rita Chikwelu, Regina Otu, Ashleigh Plumptre and Gift Monday all converted their own kicks.

Morocco took the game to the nine-time African champions from the onset, but the Super Falcons somehow weathered the storm and even began to threaten the goal of their opponents.

Super Falcons however got the lead on 62 minutes in fairly comical circumstances.

Rasheedat Ajibade’s cross was headed goalwards by Onumonu but the ball rebounded off the post. Uchenna Kanu looked set to pounce on the loose ball, but as Morocco defender Hanane

Aït El Haj tried to clear the ball, she succeeded only in kicking it into the face of teammate Yasmin Mrabet and the ball ended up in the back of the net.

That Nigerian lead lasted only four minutes before the home side hit back to send the crowd into delirious celebrations.

Ayane broke down the right-hand side and when her low cross was not collected cleanly by Nigerian goalkeeper Chiamaka Nnadozie, Sanaâ Mssoudy turned home the loose ball.

Thereafter, with pressure of two players down now having telling effects of the Falcons, they had to resort to defending for the remaining minutes of the game until the shootouts.

The Falcons will battle Zambia who lost in the other semi final to South Africa in the third place match on Sunday.

The Banyana Banyana booked their place in the WAFCON final via a contentious injury-time penalty against Zambia.

After a lengthy Video As-

sistant Referee (VAR) review, centre referee Lidya Tafesse, pointed to the spot for a penalty.

Linda Motlhalo kept her cool to convert in the 94th minute kick and send the four-time WAFCON runners up into Sunday's final to face host Morocco.

In a match of few clear chances in Casablanca, Zambia goalkeeper, Catherine Musonda, made a fine save to deny Hildah Magaia late on after Grace Chanda had shot narrowly wide at the other end.

Akuneto to Receive Eunisell’s N3.8m, Boot as 2021/22 NPFL Top Scorer Eunisell, organisers of the prestigious annual Eunisell Boot award, on Monday announced Rivers United star, Chijioke Akuneto, as winner of the just concluded 2021/22 Nigeria Professional Football League (NPFL) season.

Instituted by Eunisell, West Africa’s largest independent chemical as well as oil and gas engineering solutions company, the Eunisell Boot Award seeks to instill greatness in players in the domestic top flight and celebrate their success story.

Eunisell placed a premium value of N200,000 for each goal scored by the top scorer.

For his feat, Akuneto will receive replica of the reputable Eunisell Boot as well as the sum of N3,800,000 at a date and venue to be announced by Eunisell.

According to a statement

from the organisers: “Eunisell is passionate about the Nigerian League and believes Nigerian players deserve to be celebrated.”

High flying Akuneto scored 19 goals during the just concluded season to finish ahead of other combatants to emerge as the Eunisell Boot award winner.

Akuneto scored a brace on Match- day 37 on the road at Shooting Stars to take his tally to 18 goals and moved ahead of others. He then scored his 19th goal on the last day of the season at home against Gombe United, last Sunday to consolidate.

Junior Lokosa won the inaugural edition of the Eunisell Boot in 2018 after similarly scoring 19 goals for Kano Pillars and it has since remained an annual award for the highest goal scorer in the Nigerian topflight league.

Morocco’s Atlas Lionesses celebrating reaching the final of the WAFCON 2022 after defeating the Super Falcons 5-4 in penalty shootouts...last night

New Champions Crowned in Douye Diri Scrabble Championships Olusegun Samuel in Yenagoa

Chijioke Akuneto...winner of Eunisell Boot award

Akwa Ibom-born Nsikak Etim has emerged the new champion of the Masters category in the second edition of the Governor Douye Diri National Scrabble Championship which ended last night in Yenagoa, Bayelsa State.

The player recorded 12 wins at the DSP Alamieyeseigha Banquet Hall in the Bayelsa State capital with a plus 1082 cumulative spread to win the

trophy and N500,000 star prize and the winner's trophy.

Etim dethroned Oshevire Avwenagha won the maiden edition with 11 victories of 617 cumulative at the Harold Dappa Biriye Conference Centre, Onopa.

Akpofure Orughele from Delta State won the intermediate category while Jacob Jonah was the winner of the veterans' category, just as Burogha Douglas from Bayelsa State was the opens event champions.

...Egbe Congratulates Remo Stars on Continental Ticket Sports facility expert and Chief Executive Officer of Monimichelle Group, Ebi Egbe, has congratulated Remo Stars on their continental ticket.

Remo over the weekend defeated Niger Tornadoes by 3-0 to finish third on the Nigerian

Professional Football League (NPFL) log, thus securing ticket to play in the CAF Confederation Cup. Interestingly, the Ikenne Warriors only made their return to the Nigerian topflight league this season.

Speaking on the feat, Egbe said he is proud of Remo Stars and the club’s President, Kunle Soname, who he described as one who has a lot of passion for the round leather game.

Egbe whose outfit constructed Remo’s Ikenne stadium turf

noted that given the state-ofthe-art pitch Remo play on at home, the performance of the club is not coming as a surprise.

“I congratulate them and I am happy Monimichelle is part of the club’s success story just like Enyimba,” concludes Egbe.

There was also a new champion in the student category as Adeleke John from Federal Government College Odi dethroned Ikoko David who won the category last year.

Young chess prodigy, Deborah Quickpen, and Sunshine Ekperi got consolation prices.

Declaring the Championship close, Governor Douye Diri reiterated the state government's commitment in using sports to combat crime as well as develop the skills and talent of the youths.

The Governor who was represented by the Deputy Governor, Lawrence Ewhrudjakpo, stated that Bayelsa was open to host more national sporting activities, noting that the state had recorded landmark achievements in sports in the last two years.

He urged all the winners to be focused and to not see their

success as the ultimate goal but aim to become world champions.

In an interview, the winner of the masters category Nsikak Etim, a graduate of the University of Lagos asserted that he was elated for emerging victorious in a competition that had African champions in attendance.

He explained that he won the championship with a hydrocarbon word "Neoprene" which according to him was the game clincher.

About 272 scrabble players from across the country participated in five categories: Masters, Intermediate, Open, Schools and Veterans in the two-day event which took place at the DSP Alamieyeseigha Banquet Hall, Yenagoa.

Winners were rewarded with trophies and total cash prizes amounting to five million Naira.

TUESDAY JULY 19, 2022 • T H I S D AY

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MISSILE

Catholic Bishop to FG

“Catholic Priests are Christ’s representatives on earth. Killing them amounts to killing Christ a second time. You are abducting and killing them because they are doing Christ’s work on earth? What wrong have they done? It is really abominable to maim a Priest. Their cries will reach the heavens and the heavens will fight their battles. Nigeria government should be very careful” --- Catholic Bishop of Awka Diocese, Most Revd. Paulinus Ezeokafor, bemoaning the killing of Priests across the country.

TUESDAY WITH REUBENABATI abati1990@gmail.com

Nigeria and The New NNPC T

his day, July 19 should go down as a special moment in the economic history of Nigeria – the day when the country’s main vehicle for economic survival, the Nigerian National Petroleum Corporation (NNPC) is officially unveiled by the incumbent President as a commercial venture. The transition took effect on July 1, in line with the provisions of the Petroleum Industry Act (PIA), 2021. But by noon today, NNPC would have formally made that transition from being a corporation to become a limited liability company, a company limited by shares, to be known hereafter as NNPC Limited, that is a commercial venture. In some of our media platforms in the last few days, the NNPC hierarchy has been staging a song and a dance over the fact that the NNPC was indeed about to become a new entity. What does this mean in real terms for Nigerians? While we are all obsessed with politics, the Osun Gubernatorial election being the latest menu on the plate of the commentariat and the political elite, it seems to me that the transition that is to be unveiled today at the NNPC deserves some interest. Established in 1977, 45 years ago, the NNPC manages Nigeria’s crude oil, gas and petrochemical resources, the joint venture between Nigeria and oil multinationals, and also engages in petroleum exploration and production through the country’s four refineries.

Crude oil accounts for more than 80% of the country’s foreign exchange earnings. With Nigeria identified as the sixth largest oil producer in the world, and with the country blessed with the sweet, low-sulphur, top grade Brent Crude variety, crude oil was effectively Nigeria’s equivalent of manna from Heaven. In due course, we were told that Nigeria is even more of a gas producing country than an oil dependent country. Milk and honey practically flow under Nigeria’s soil. It has been NNPC’s business to manage all of that, and bring profit to the country.

Nigeria is not the only country that has been so privileged. They have oil and gas in Saudi Arabia, Russia, Qatar, UAE, Venezuela (bad reference in the circumstance), Libya, Kuwait, the United States, Norway and quite a number of other countries. Whereas oil and gas resources have brought some countries power and glory, Nigeria’s experience has been mixed and problematic. From being a resource-rich country in the 70s and 80s, crude oil in particular has turned out to be a source of agony and pain for Nigeria. We squandered the riches. A terrible economy developed over the years around oil and gas. Politics, ethnicity, greed, corruption and all the other ailments that assail the country found a home in the oil and gas sector. This should not be surprising. The easiest way to make money in Nigeria is to get into the oily business. It was a matter of time before the people would begin to agitate for reforms and a change of regime. And it happened. Oil resource became the target of seething anger within the system. Those who believe that the oil and gas that come from their soil in the Niger Delta is theirs see no reason why anyone, any group or any region that does not produce oil and gas should benefit from other people’s endowments in a supposedly federal system.

Oil became political. Politics became oily and gassy.

Right at the centre of this conundrum was the NNPC, and the country’s Ministry of Petroleum Resources and everything attached thereto.

To address both the sentiments and the substance around this issue, there have been calls for resource control. From Adaka Boro to Ken Saro-Wiwa and beyond, there have been calls for true federalism, secession, respect for the rights of ethnic minorities, and counter arguments along geographical lines with the North pitched against the South on the question of who owns what, who should get what, and what share – Nigeria’s main revenue being oil and gas. In due course, the Petroleum Industry Bill was introduced to address many of the issues: governance, regulatory

GMD, NNPC, Malam Mele Kyari frameworks, community relations and management.

When President Muhammadu Buhari unveils a new NNPC this morning, with a new brand, logo and identity, NNPC Limited emerging in place of the Nigerian National Petroleum Corporation, he would be giving effect to a major plank of the Petroleum Industry Act (PIA). President Buhari can comfortably claim the PIA as one of the achievements of his administration. For decades, Nigerians complained about the need for reform in the oil and gas sector.

They asked for a review of joint venture frameworks.

They wanted a new NNPC that would be organized for productivity and efficiency and not a mere government parastatal bogged down by politics and graft. Oil bearing communities also had their demands relating to justice, equity and fairness and how these have been treated shabbily within the larger Nigerian equation.

For decades, the Nigerian legislature toyed with the law. Under Buhari, the law was passed. It seeks to provide a new governance framework in the oil and gas sector. The law removes the subsidy in the downstream sector especially with regard to petrol.

It decrees a transformation of the NNPC into a profit making, independent, commercial venture. Before now, the NNPC has been run as a cash cow for the Nigerian Government, as a dependent public sector agency. It manages the oil and gas resources of the country, makes money, transmits same to the Treasury. Every month, state governments carry bowls in hands, rush to Abuja and at what is called the Federation Accounts Allocation Committee meeting (FAAC), collect their own share of the national cake.

Everyone got so greedy, everything got so mismanaged, NNPC got to a point it started protesting that there was very little to share or add again. For months, the NPPC using the excuse of under-recovery and subsidy has not been able to contribute as much as it should to the national purse. This is one reason why its reform is imperative. The PIA has offered a window but how open is that window?

The unveiling of a new NNPC should be seen correctly by industry watchers as a positive development. The need for the transition as proposed is justified by how Nigeria’s national oil company performs badly against its peers. In the wake of the Russia-Ukraine war, Russia has been using its energy resources as a weapon against Europe which depended on Russia for about 40% of its energy needs. Russia simply turned off the Nord Stream 1 pipeline for routine maintenance, and asked for payments in rouble, to push Europe into confusion,

and energy prices to the roof. Countries with high demand for energy are groaning. Countries that are rich in oil and gas are smiling: Saudi Arabia and other countries of the Middle East are being wooed as the West looks for alternative sources of energy.

The United States is wooing Saudi Arabia afresh. It has tried to soften a bit on Venezuela. Sri Lanka in the Indian sub-ocean is in trouble in part because it cannot provide fuel, food and medicines for the people. Pakistan is hanging on to the IMF to bail it out. Cost of living crisis is a major issue in Great Britain. While Europe is looking towards Algeria, Tunisia, and Angola for solutions and alternatives, Nigeria has been caught flat-footed. Rather than turn the current global crisis into an advantage, we are busy here lamenting that rising oil prices amount to a curse for Nigeria. We are not befitting because we are not ready. In today’s global energy mix, Nigeria pays a huge price for its own failures in managing its main resource and the plain view reason is this: the failure of leadership.

NNPC wears a new toga today. We have made that point. Restructuring of the public sector has been a recurring decimal in Nigeria’s economic history.

The question has always been: how can public enterprises be made more profitable: commercialization, privatization or liberalization? Liberalization as in the telecommunication sector has resulted in growth and innovation and the end of the inefficiency of the old, state-owned NITEL. That is one good example. In a deregulated regime, the state has no control over price. It can only regulate quality.

Under a privatization regime, the state can regulate, but the entity is controlled by its shareholders. The fundamental thing is: a private entity is after the maximization of profit and minimal cost. What has happened to the NNPC is commercialization, not privatization. But don’t get it twisted: NNPC still remains in the public sector. That is why it is still called Nigerian National… The only difference is that as a commercial entity, it will now have to pay more attention to its profit and cost centres.

While there is a limit to which it can dictate price and profit, it must be noted that it can no longer do business as usual.

What is also new is that while the NNPC may still have a relationship with government, the same government can no longer have control over the staffing of the NNPC. The control of the Minister of Petroleum will be limited. As a commercial entity, the NNPC is beholden to its shareholders. Competence, quality will determine recruitment. The old practice of anyone in government sending notes for NNPC allocation or positions would be untenable under the new arrangement. Nobody can send in a note anyhow. The influence of rent collectors would be watered down, if not completely eliminated. It also means that the country can no longer depend mainly on NNPC for Federation Accounts returns (FAAC).

The Federal Government would be entitled strictly to returns on its shares. In all of these regards, today’s development, NNPC’s transition into a commercial entity is a laudable development. The Group CEO of the new company, the erstwhile Group GMD of the NNPC whose title has thus changed, has alluded much to this when he made it clear in the past few days that (i) NNPC going forward is responsible to its shareholders as a limited liability company, (2) whatever service it provides for the Federal Government would be for a fee, (3) subsidy is not the responsibility of the NNPC, but that of the Federal Government and (iv) NNPC is committed to transparency and accountability, and accounting rules.

At the unveiling today, the Buhari government can commend itself for seeing through the PIA. But the skeptics are unrelenting and they have raised issues that we need to worry about. They argue for example that it is indeed a good and proper thing to seek to make the NNPC as efficient and

as profitable as Saudi Arabia’s ARAMCO and other peers elsewhere but the problem is that NNPC is still tied to the apron strings of government. Most of the workers are still workers of the Nigerian government. As a commercial entity, it should be possible for the company to source its own expertise, consultants and staff from anywhere without the Nigerian government imposing the constraints of ethnicity and federal character. The NNPC of old ran a Nigerian-factor regime where some characters thought access to political power and influence granted them automatic control over the resource management company. Such a system would not be acceptable under the new mode of doing business.

That has to change forthwith, to send the strong signal that it is indeed no longer business as usual.

Second, the much-talked about NNPC shareholders are the Ministry of Finance Incorporated (MoFI) and the Nigerian Treasury, which are both government entities. NNPC says it will send debit and credit notes for services rendered to demonstrate its own accountability and commitment to EITI principles. MoFI can claim that it represents the Nigerian people. What will NNPC Ltd do if government fails to pay – this same government that does not pay electricity bills or ASUU salaries? And as things stand, it looks like NNPC truly can no longer be held responsible for monthly contributions to the Federation Account.

Nonetheless, the NNPC as a commercial entity can only succeed as much as the Federal Government wants it to. As long as the NNPC is government-linked, there will be issues. For the NNPC to succeed, it needs to function under a government that understands the meaning and implications of profit and loss. There is a need for deep reform, for the people’s overall benefit. The meaning of the new dispensation is that NNPC would have no option but to send debit notes to the Federal Government, because the company won’t be able to hide the gaps in its balance sheet.

The Buhari government does not have this profit and loss orientation mindset that is required to birth a new NNPC. The responsibility for that would have to be taken up perhaps by a new government. We can only hope that the would-be next President of Nigeria, whoever he turns out to be, is thinking of this, from both an economic and national security perspective. A food for thought is the position that in the long run, the NNPC must be privatized. Its board must not be a political Board, it must be a commerce-oriented Board. The experts must be allowed to do their job, not politicians, seeking rent.

NNPC shares must be sold directly to the public as a company under the Companies and Allied Matters Act (CAMA).

There is the unresolved issue of refineries. There is nothing wrong in Nigeria having a national oil company, but to save the NNPC, it is important to keep the fundamentals in mind. NNPC’s transformation comes at a time when the world faces an energy crisis, and a cost-of-living dilemma. It makes no sense that the country’s four refineries are grounded, or running at a loss. It is shameful that Nigeria cannot meet its OPEC quota. It is scandalous that it is only just now that we are beginning to talk more seriously about transparency and accountability in the management of the country’s most strategic resource. The emergence of a new NNPC is a good idea, but it seems to me that the best that the Mele Kyari-team can do, for now, is to lay the foundation for a more far-reaching process. Under Mele Kyari’s watch, the NNPC published its first audited accounts in 43 years in 2020! The new NNPC is expected to do things differently to attract investment, promote innovation, eliminate corruption and inefficiency, and ensure clarity. It must measure up like Saudi Arabia’s Aramco, and Brazil’s Petrobras. Its business model must work for the country’s benefit. The new NPPC must represent a transition in real terms into a new style and philosophy.

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