FRIDAY 21TH JULY 2023

Page 1

Kayode Tokede

FBN Holdings Plc, yesterday on the Nigerian Exchange Limited (NGX), declared N206.3billion profit before tax (PBT) in its unaudited half year (H1) account ended June 30, 2023, which was a new record high for the oldest financial institution in

Nigeria. The PBT recorded was about 213.8 per cent higher, when compared with the N65.7 billion declared by the parent company of First Bank in the first half of 2022. FBN Holdings in 2022 full year result and accounts declared N157.7billion PBT and in 2021, it

Posts New Record in PBT

announced N166.7billion PBT.

Key factors that contributed to the outstanding increase in the FBN Holdings PBT and profit after tax figures included: N656.5billion gross earnings reported in H1 2023, an increase of 83 per cent from N359.2billion reported in H1 2022, and N257.9billion

non-interest income in H1 2023, a growth of about 113.8 per cent from N120.6billion in H1 2022.

The group’s balance sheet position improved significantly, as total assets crossed the N14trillion mark as of June 30, 2023.

FBN Holdings declared N14.18 trillion total assets as of June 30,

2023, an increase of 34 per cent, from the N10.58 trillion reported in 2022 full year.

The increase in total assets was driven by N5.26 trillion customer loans and advances (Net) as of June 30, 2023, an increase of 39 per cent from N3.79trillion and N9.04 trillion customer deposits as of June 30,

2023, a growth of about 27 per cent from N7.21trillion reported in 2022FY.

Group Managing Director, FBN Holdings, Mr. Nnamdi Okonkwo, said in a statement, “FBN Holdings has continued to deliver a strong

NECA to FG: Rising Cost of Living Driving Organised Businesses, Nigerians into Hopelessness... Page

Subsidy Removal: KPMG Calls for Tax Cuts, Transport Vouchers

properly informed and engaged in the decision-making process. The renowned accounting and

Continued on page 5

Tinubu Approves Infrastructure Support Fund for

to Cushion Effects of Subsidy Removal

FAAC shares N907bn among FG, states, LGs for June N1.9tn generated, N790bn to be saved, balance for statutory deductions NEC rejects Buhari’s national social register over integrity concerns

See story on page 5

Endorses deployment of CNG vehicles for public transportation FG to distribute 252,000 tonnes of grains to states FIRS to increase annual revenue generation from N10tn in 2022 to N25tn in 2024

JONATHAN IN BANGKOK ENROUTE TO CAMBODIA...

L-R: Nigeria's Ambassador to Thailand, Amb Oma Djebah and former President Goodluck Jonathan at the Executive VIP Lounge of the Suvarnabhumi International Airport, Bangkok as the former President transits to Cambodia as Head of the election Observation Mission to Cambodia...yesterday

ANOTHER FIRST IN NIGERIA....

Managing Director of UTM Offshore Limited, Mr. Julius Rone,OFR (left), and Group Chief Executive Officer of Nigeria National Petroleum Company Limited, Mr. Mele Kyari, after the signing of Heads of Terms (HoT) agreement by the two companies for the construction of 1.5 million tonnes per annum (MTPA) FLNG (Floating LNG project) in which NNPC is taking 20% stake in Abuja...yesterday

Friday 21 July, 2023 Vol 28. No 10327. Price: N250 TRUTH & REASON Continued on page 5
www.thisdaylive.com
12
PSC Approves Appointment of Two DIGs, 14, 052 Inspectors, Confirms 9,016 ASPs... Page 17
With N206.3bn Half Year Result, FBN
36 States
Emmanuel Addeh in Abuja KPMG a global audit, tax and advisory services firm has called for the deployment of alternatives to money in cushioning the severe impact of the recent petrol subsidy removal. In a report it titled: “ Removing Nigeria’s PMS Fuel Subsidy: We Can’t Have Our Cake & Still Eat it”, the organisation stated that to minimise the negative impacts of subsidy removal, there was a need for a set of coordinated actions that considers the inflationary impact, potential social unrest, and the need for compensating measures to cushion the poor. It stated that the $800 million World Bank proposed “Compact with the People” was therefore a step in the right direction, but noted
communication was also key
ensuring that stakeholders are
that
in
transparency
in managing gains
Says
critical
FRIDAY JULY 21, 2023 • THISDAY 2
FRIDAY JULY 21, 2023 • THISDAY 3
FRIDAY JULY 21, 2023 • THISDAY 4

TINUBU APPROVES INFRASTRUCTURE SUPPORT FUND FOR 36 STATES TO CUSHION EFFECTS OF SUBSIDY REMOVAL

Deji Elumoye, Ndubuisi Francis and James Emejo in Abuja

President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for the 36 states of the federation as part of measures to cushion the effects of the petrol subsidy removal on the people.

The approval was disclosed yesterday in Abuja at the monthly meeting of the Federation Account Allocation Committee (FAAC), where N907 billion was shared among the three tiers of government for the month of June.

The National Economic Council (NEC), also yesterday, resolved to do away with the national social register used by the Muhammadu Buhari administration to implement its conditional cash transfer.

The decision came as the federal government announced that it would distribute 252,000 metric tons of grains to states at subsidised rates in a continued effort to assist the citizenry amid hardship occasioned by removal of petrol subsidy.

Shedding more light on the establishment of the ISF for the 36 states, Special Adviser to the President, Special Duties, Communications and Strategy, Mr. Dele Alake, said, in a statement, "The new infrastructure fund will enable the states to intervene and invest in the critical areas of transportation, including farm to market road improvements; agriculture, encompassing livestock and ranching solutions; health, with a focus on basic healthcare; education, especially basic education; power and water resources, that will improve economic competitiveness, create jobs and deliver economic prosperity for Nigerians.

"The committee also resolved to save a portion of the monthly distributable proceeds to minimise the impact of the increased revenues – occasioned by the subsidy removal and exchange rate unification – on money supply, as well as inflation

and the exchange rate."

Alake disclosed that out of the June 2023 distributable revenue of N1.9 trillion, only N907 billion was distributed among the three tiers of government, while N790 billion will be saved, and the rest will be used for statutory deductions.

He stated, "These savings will complement the efforts of the ISF and other existing and planned fiscal measures, all aimed at ensuring that the subsidy removal translates into tangible improvements in the lives and living standards of Nigerians.

"The committee commends President Tinubu for the bold decision to remove the petrol subsidy, and even more importantly, for providing necessary support to the states to cushion the effects of the subsidy removal on Nigerians,"

Meanwhile, a communiqué issued at the end of the FAAC meeting for July 2023, which detailed the allocations, said a total sum of N907.054 billion Federation Account revenue was shared among the three tiers of government for June.

Allocations are usually shared from the preceding month’s revenue — meaning June allocations were shared in July.

The FAAC meeting was chaired by Accountant General of the Federation, Dr. Oluwatoyin Madein, according to a statement issued by Director (Press and Public Relations), Office of the Accountant General of the Federation, Bawa Mokwa.

The N907.054 billion total distributable revenue comprised distributable statutory revenue of N301.501 billion, distributable Value Added Tax (VAT) revenue of N273.225 billion, Electronic Money Transfer Levy (EMTL) revenue of N11.436 billion, and Exchange Difference revenue of N320.892 billion.

The total deductions for cost of collection for the month was N73.235 billion, while total deductions for savings, transfers and refunds stood at N979.078 billion.

SUBSIDY REMOVAL: KPMG CALLS FOR TAX CUTS, TRANSPORT VOUCHERS

audit company also suggested that the government and other stakehokders will have to increase the minimum wage to cushion the impact of the removal on the purchasing power of consumers.

However, it explained that some of the measures could further worsen inflation that it is intended to resolve by stimulating money supply further, advising that they must be handled carefully.

“Accordingly, we will advocate using alternatives to money supply boosting actions such as transport vouchers for the rural and urban poor and tax cuts (PAYE, VAT, CIT) for the middle class.

“The benefit of this is that it has limiting effects on money supply while at the same time cushioning the negative impact on purchasing power,” it maintained.

However, it stated that the economic challenges precipitated by the naira redenomination cash crunch in early 2023 had a significant and negative impact on growth.

In Q1, 2023, it stated that growth in Gross Domestic Product (GDP) was at 2.31 per cent, year-on-year, slowing down from 3.52 per cent in the 4th quarter of 2022, with agriculture contracting for the first time since 1987 and declining by 0.90 per cent .

KPMG stressed that oil and gas continued to contract at 4.21 per cent, following past contractions of -13.38 per cent in Q4, 2022 and -26.04 per cent in Q1,2023.

It recalled that the services sector remained the major driver of growth at 4.35 per cent as the non-oil sectors grew by 2.77 per cent in Q1 2023, compared to 4.84 per cent in Q4 2022 and 6.08 per cent in Q1 2022 even as Gross Domestic Product (GDP) growth in 2022 was estimated to range between 2.85 per cent and 3 per cent in 2023.

“In conclusion, the removal of subsidies on PMS in Nigeria is a complex issue that requires careful consideration of its potential economic, social, and

From the total distributable revenue of N907.054 billion, the federal government received N345.564 billion, states got N295.948 billion, and the local governments received N218.064 billion.

A total sum of N47.478 billion was shared to the relevant states as 13 per cent derivation revenue.

The statement disclosed that a gross statutory revenue of N1,152.921 billion was received for the month of June 2023. This was higher than the sum of N701.787 billion received in the previous month by N451.134 billion.

From the N301.501 billion distributable statutory revenue, the federal government received N146.710 billion, the state governments received N74.413 billion while the local government councils received N57.370 billion.

The sum of N23.008 billion was shared to the relevant states as 13 per cent derivation revenue.

For the month of June 2023, the gross revenue available from the VAT was N293.411 billion. This was higher than the N270.197 billion available in the month of May by N23.214 billion.

The federal government received N40.984 billion, states received N136.613 billion and the local government councils received N95.629 billion from the N273.225 billion distributable VAT revenue.

The federal, state and local governments also received N1.715 billion, N5.718 billion and N4.003 billion, respectively, from the N11.436 billion Electronic Money Transfer Levy (EMTL) for the month

From the N320.892 billion Exchange Difference revenue, the federal government received N156.155 billion, states received N79.204 billion, and the local government councils received N61.063 billion.

The sum of N24.470 billion was shared to the relevant states as 13 per cent mineral revenue.

unbanked.

Soludo said it was agreed that states should generate registers that were comprehensive and ensured that they were for the vulnerable people only.

Soludo, who spoke in the company of his Bauchi and Ogun states counterparts, Bala Mohammed and Dapo Abiodun, respectively, noted that beneficiaries of the supposedly transferred cash could not be identified in the villages.

He stated, "I'd like to respond to the social register that has been mentioned. I think at the council today, there was almost near unanimity among members that there’s a big question mark about the integrity of the so-called National Social Register.

"We have questions about how those names in the register were brought about and I’m sure one question I hear asked is where it is for the most vulnerable group, and so on and so forth.

"Let's talk about a social register. And then distributing things through the social register by digital means, implying that these people already have account numbers and they have phone numbers. Maybe we are talking about some other people and not Nigerians. The poorest 25 per cent of Nigerians are likely, if not totally unbanked, and don't have access to telephone.

"Now in thinking through that, we felt that sitting in Abuja and calling on somebody in Anambra to compile a list and send it to you and then the person depends on who he brings, and the registers are generated and people go to those villages and ask where are those people and they don't show up. This is stress testing. And we think that we need to go down back to the drawing board.

for each and every state.

"But the fact that the council recognises that this is an issue that each tier of government should now focus on as an area of concern.”

He pointed to mounting concerns about “the cost of running the state, the way we even live. So, some gave an example of a state governor going with more than 20 vehicles in a convoy and all these have to be fuelled, and so on and so forth”.

Soludo stated, "We need to be sensitive to the times, we need to live within the average of the people that we’re governing and so on and so forth and knockoff the waste and the irrelevance, so to speak.

"I will like to give you a simple example, When I assumed office, it cost about N137 million every month to clean up public offices, and so on. Today, in Anambra, we're doing N11 million a month from N137 million on a monthly basis, just an illustration. And it's a thing that we’re persuading each and every one of us to look into, check into our books and look ourselves in the mirror and move with the times.

"And by the way, there's something that I think my colleagues missed out as part of those recommendations over the medium, longer term, and that is the possibility of negotiating a new minimum wage. That obviously will be on the table. But that has to be negotiated through the appropriate structures for doing that over time."

Soludo explained that packages to serve as palliatives were clarified to encourage the tiers of government to implement in accordance with their respective fiscal spaces and fiscal capacities.

for example, we are recommending that they should do so using the framework of the states and local governments that are nearer to the people, so to speak. That's basically that.

“We didn't sit down there to begin to say, oh, okay, this one your transfer will be like what is being bandied around in the media, whether it's 8,000 or 10,000, or 1,000, or whatever. It will depend on what the state… if the state can afford it, and what they can afford. And I guess it’s very important that we communicate this clearly.”

On his part, Governor Bala Mohammed of Bauchi State said the federal government would distribute 252, 000 metric tons of grains to states at a subsidised rate to cushion the effect of subsidy removal.

Mohammed said the National Emergency Management Agency will also make available to the people its package.

Speaking, also, Governor Dapo Abiodun of Ogun State said though the hardship the masses were facing as a result of the removal of fuel subsidy was not the making of the government, as market forces determined the prices, efforts were being made to cushion the effect.

Some of the packages, he stated, included cash transfer to the poorest of the poor by the states, cash award policy for all public servants, which should be implemented for six months, in first instance, payment to public servants on outstanding liabilities, such as pension, allowances, among others.

political impacts. While subsidies have provided some benefits, they have also been a significant drain on the country’s resources and have contributed to inefficiencies and corruption.

“While success at the PMS fuel subsidy removal will require political will and commitment by the federal Federal government, this must be complemented by a robust coordination with the states.

“Coordination by the fiscal authorities and the Central Bank of Nigeria (CBN) in managing the monetary aspects of deregulation and subsidy removal are key. Without foreign exchange reforms, and an elimination of the gap between the official and parallel exchange rate, the reforms will not work,” the report argued.

In addition to demonstrating very clear and unambiguous transparency in the process, the government, it said, will also have to demonstrate that as much as it is rightly asking the public to tighten its belt and expect temporal inconveniences, it also must be seen to be cutting wasteful expenditure and reduce the rising costs of running government.

Thus, KPMG noted that there must be the courage and political will needed to fully implement the Orosanye report which is estimated to save the government N1.3 trillion.

Nigeria, according to the report, can learn from the experiences of other countries that have undergone subsidy reforms, particularly in the areas of stakeholder engagement, and effective communication.

“With careful planning and implementation, the removal of PMS fuel subsidies in Nigeria has the potential to promote greater economic efficiency, reduce corruption, and create opportunities for more sustainable and inclusive economic growth.

“However, in sum, the PMS fuel subsidy is clearly unaffordable and unsustainable: Nigeria cannot continue trying to simultaneously have its cake and eat it,” it stated.

According to the communiqué, in the month of June 2023, Companies Income Tax (CIT) recorded tremendous increase. Import and Excise Duties, Value Added Tax (VAT), Oil and Gas Royalties increased significantly, while Petroleum Profit Tax (PPT) and Electronic Money Transfer Levy (EMTL) decreased considerably.

The balance in the Excess Crude Account (ECA) stood at $473,754.57

as of July 20, 2023

NEC Rejects Buhari’s National Social Register over Integrity Concerns

The NEC, yesterday, resolved to do away with the national social register used by the Muhammadu Buhari government to implement its conditional cash transfer.

The NEC meeting presided by Vice President Kashim Shettima, at the Council Chamber of State House, Abuja, said the register used by the immediate past administration had integrity issues, as the criteria for its compilation was unclear.

Briefing newsmen at the end of the meeting, Governor Chukwuma Soludo of Anambra State said contrary to what the previous administration projected, it was not possible to digitally transfer money to the poorest of the poor, majority of whom were

financial performance despite the complex operating environment, thanks to our reinforced foundations, deep market understanding, strong risk management, and execution capabilities.

“On the back of this and in line with our focus of driving further improvement in revenue generation and profitability, the group delivered strong growth in gross earnings and profit before tax, resulting in N656.6 billion and N206.3 billion, respectively, for the first half of 2023 financial year.”

Okonkwo added, “Across our businesses, we continue to focus on customer-centric innovations with strong transactional and digital capabilities supported by sound risk management practices to anticipate and creatively deliver products and services that delight the different

"If you are delivering any such national or federal programme from Abuja, it needs to be delivered via the governments that are there using their own format and mechanisms to generate the register that is comprehensive.

"That meets certain criteria that you can stress test and you can call out the people in the village and everyone will confirm that these are the vulnerable people, if you are targeting vulnerable people, as it were.

"So the integrity test is what is missing with that register. Many have just described what is being counted as National Register as bogus, some describe it as phantom, some in all manner of terms. So, we need to face the problem, the fact that we don't have a credible register and get back to work on this."

Soludo said NEC resolved that the states should come up with their own registers using formal and informal means to develop them. He assured that all beneficiaries at the subnational level could easily be accessed that way.

Soludo affirmed that NEC deliberated on ways to cushion the effect of the recent petrol subsidy removal, including reduction in cost of governance.

He said. "The first question that was raised is in relation to cost of governance. I think it's an omnibus concept, and it's not something you sit down in a meeting to legislate

customer segments that we serve. Furthermore, we are committed to leveraging technology via digital platforms to enhance operational efficiency.

“Although the current operating environment remains challenging, we are confident of successfully navigating the terrain in our transformation journey to deliver sustainable value to our stakeholders.”

Further checks revealed that First Bank of Nigeria Limited, the commercial bank subsidiary of the group, declared a profit before tax of N188.8 billion in H1 2023, up 214.6 per cent from N60billion reported in H1 2022, while profit after tax hit N174.9 billion in H1 2023, an increase of 228.3 per cent from N53.3 billion in H1 2022.

Commenting on the results, Chief

He said, "The federal, state and local governments. I want to highlight as well, but that is quite some fiscal surplus that will be coming to the states and local governments and the federal government and we suggested that it will be nice that you can implement cash transfers, subject to your financial capacity based on peculiarities.

"Some might be able to do one, some might be able to do 10. Some might be able to do 20 as the case may be. It depends on their own capacity. Maybe a state, maybe some that are not even in a position to do that now.

"For example, if you have a state that has been owing salary arrears, workers have been owed for three years, or for four years. The priority now is to even start paying some of the salary arrears, or where pensioners have been owed their pension and gratuity for seven years, for example, the priority now might be to use part of the surplus to pay them.

"Then, there are also states that are with bumper harvests and that will say you know what, I want to deploy a chunk of this to implementing cash transfer and several of the other immediate programmes and that's why we couched this point, that this is ultimately still a federation. And the various states and local governments and federal government are at different levels in terms of their fiscal space and fiscal capacity.

“So states, local governments, the federal government, depending on the resources. If the federal government decides to do the same cash transfers,

Executive Officer of First Bank, Dr.

Adesola Adeduntan, in a statement, said, “In the first half of 2023, First Bank Group delivered the strongest financial performance in the almost 130 years of the Bank’s history; with solid business momentum, increased revenue, and excellent returns. The result reflects the continued positive impact of our strategy and the tremendous progress that we have made in growing and transforming the Group. The result also highlights the resilience of our business model, customer relationships and institutional capabilities.

“While the uncertainties in the macroeconomic and operating environment persist, I am confident that our purpose-driven strategy remains the right one and that our strong financial performance,

Abiodun said government was looking at the possibility of funding micro, small and medium scale enterprises (MSME), which he said were the engine of growth for the economy.

He further said government was planning immediate implementation of energy transition plants, converting mass transit buses to Compressed Natural Gas (CNG), adding that the long term vision was to establish electric automobile plants.

According to him, "As a responsible government, we extensively deliberated on immediate steps in appreciation of the fact that our people are already feeling the pains of these very laudable and noble steps and have been very patient with this administration.

"To that extent a sub-committee of the NEC was set up and that sub-committee reported some of the things that the governor of Anambra has shared with us and their report is now the proposal of the NEC and amongst what the governor of Anambra has shared with us.

"We also proposed accordingly that each state should begin to plan towards implementing a cash transfer programme that will be based on the social registers of the states because it is the states that are better positioned to do that enumeration so you can ensure the integrity of the social register.

"Again, it was also proposed by the council that we should implement a Cash Award Policy for all public servants. What's a Cash Award Policy? That would be a policy that allows each sub-national to actually pay the

Continued on page 36

alongside our business model and resilient portfolios, position the Group well to continue to provide the required support to our customers as well as create robust and sustainable value to our shareholders.

“Given our extensive and diversified customer base of over 42 million customer accounts, our digital technology-enabled processing capabilities that ensure we process over 12 per cent of industry’s payment volume, our future-proof and cutting-edge digital banking platforms with over 22 million users that enable us to process more than 95 per cent of customer-induced transactions on digital channels, the robustness of our balance sheet, and our institutionalised risk management culture and capabilities, we see a resilient franchise today and into the future.”

5 FRIDAY, JULY 21, 2023 • THISDAY
PAGE FIVE
WITH N206.3BN HALF YEAR RESULT, FBN POSTS NEW RECORD IN PBT
FRIDAY JULY 21, 2023 • THISDAY 6
FRIDAY JULY 21, 2023 • THISDAY 7

PRESIDENT MEETS WITH SOME GOVERNORS...

IGR: New Senate Bill Targets Massive Bitumen Production as Fuel Alternative

Urges local meter manufacturers, other operators to approach CBN, Afreximbank, AfDB for support

Sunday Aborisade in Abuja

The Senate yesterday, set machinery in motion for the diversification of the nation's economy through massive Bitumen production.

The legislation to that effect passed first reading at plenary yesterday.

The bill was sponsored by Senator Jimoh Ibrahim (APC - Ondo South).

It sought the establishment of Bitumen Development Commission for official regulation of Bitumen exploration, development and exportation.

The sponsor of the bill, posited that the proposed legislation was to make Bitumen, an alternative revenue spinning product in Nigeria being the second highest deposit in the world after Canada.

He proposed that the commission should be sited in any of the three towns with high

deposit of Bitumen in Ondo State which are Ode - Irele, Agbabu and Igbotako.

As proposed in the bill, Bitumen Development Commission when established, would also facilitate execution of road infrastructure across the country and also create jobs for Nigerians, particularly Geologists whose expertise would be needed in its exploration .

In a brief chat with journalists after plenary, Ibrahim, said details of intendment of the proposed Commission , would be made in his lead debate for second reading . He said, "If the proposed legislation scales through in both the Senate and the House of Representatives with attendant establishment of Bitumen Development Commission after presidential assent.

"It would be the first law on exploration , development and possibly exportation of Bitumen in Nigeria.”

Meanwhile, the Senate yesterday, urged the Transmission Company of Nigeria (TCN) and other stakeholders in the power sector to negotiate and engage the Central Bank of Nigeria (CBN), the African Export-Import Bank (Afreximbank) and the African Development Bank (AfDB) with a view to accessing a consortium of loan facilities for local metre manufacturers in Nigeria.

The Senate resolution followed a motion by Senator Victor Umeh, titled, "Urgent Need to Protect Local Meter Manufacturers in the ongoing National Mass Metering Programme (NMMP) of the federal government."

The Red Chamber also urged the federal government to urgently suspend TCN Tender for World Bank-funded NMMP Phase two.

It explained that the action became necessary in order to undertake a comprehensive

review of the procurement criteria to prioritise local manufacturing and assembling of prepaid meters.

It said the call for an alternative loan for the local meter manufacturers was because the World Bank loans come with unfavourable conditions.

The Senate therefore enjoined the TCN to access CBN’s intervention funds instead of relying on foreign loans for the NNMP.

Umeh in his lead debate, urged the Senate to note that the industry procurement regulators had critical roles to play in every developing economy.

He said, "First and foremost, it is to protect its local manufacturers and would only try to augment importation of goods and services where there is a clear-cut gap between local production and consumption."

Umeh, insisted that members of Association of Meter Manufacturers of Nigeria

NDDC Pledges to End Flooding in N'Delta

To build dam, transit houses for victims

Blessing Ibunge in Port Harcourt

The new management of the Niger Delta Development Commission (NDDC) under the leadership of Dr. Samuel Ogbuku has expressed the determination of the intervention agency to end the effects of flood disaster on the victims in the Niger Delta region.

This was as the NDDC Managing Director, Dr. Ogbuku has stated that the recent comments on the Commission’s activities by former Rivers State Governor, Mr. Nyesom Wike, served as a push for positive change in driving the development process in the region.

Ogbuku, who spoke yesterday, during a media parley at the headquarters of the commission in Port Harcourt, said the commission has concluded plans to build a dam, as an intervention to save the people in the region from the effects of flood.

The NDDC boss also revealed that in less than three weeks,

the commission would begin the construction of transit camps in four states of the region highly affected by flood, so as to save lives and still give hopes to victims, adding that the project will be ready by November this year.

Ogbuku who expressed concern of the commission on the yearly effect of the flood in the region, said the transit camps would have schools and sick bay in the case of emergency, adding that the dam when constructed would also act as a source of power generation in the region.

"We are very concerned about the welfare of our people when it comes to flood period. So we are also trying to take step to ensure that we have our immediate response and look at the future.

"Looking into the future, we have engaged a consultant on designing a dam because we believe that from the study we have gotten. Most of the studies and advise we have gotten, is that for the Niger Delta to be safe, we need to have a Dam that will control the inflow of

water.

“So, we have already commissioned the consultant to design a dam and with that design we can approach the federal government, the state governments and possibly other international bodies for partnership to build a dam.

"We believe that you cannot be going out to discuss with somebody without showing your level of seriousness. So let us take up that cost of the design first, because we are looking into the future, we are calling that project 'Converting Liability to Asset', because the liability is the flood but in the dam will also be used for power generation, irrigation and therefore it becomes asset, especially, now that the federal government has liberalise power generation, meaning we can also make money out of it.

"But on the short time, we have also made a plan to ensure that we construct transit homes. Those transit homes will shelter our disaster victims, because over the years if you look at the Niger Delta, once disasters

are coming there is possibly no preparation for where to relocate people to.”

On food security, Ogbuku revealed "we have provisions for fertilisers and seedlings, so that after the flood the people will need to survive because flood washes away some of our crops. We want to ensure we encourage our people in agriculture because as you can see the federal government has declared emergency in agriculture.”

Meanwhile, the NDDC boss had commended former Governor Wike for the milestones he achieved in urban centre modernisation, stating that his remarks about the Commission would spur them to positively change the narrative about the interventionist agency.

Ogbuku stated: "We will not join issues with former Governor Nyesom Wike. He has done well for the people of Rivers State, especially in the area of urban modernisation. Rather, we are spurred by his comments to change the narrative about the NDDC positively."

(AMMON) were capable of producing world standard smart meters.

"The TCN and the Nigerian Electricity Regulatory Commission (NERC) under Phase 1 of the Mass Metering Programme of the federal government, issued the Association, after a competitive Bidding Process a ‘Letter of No Objection’ to award four million meters in 2022.

“Central Bank of Nigeria in 2020 undertook to fund the NMMP Phase 1, but after eight months of awards to local manufacturers, withdrew funding, which affected the workability of the programme.

"The World Bank has approved

a loan of $155,000,000.00 for the NMMP. Worried that the Ongoing World Bank funded NMMP Phase 2 seeks to promote foreign companies’ participation against competent and prequalified local meter manufacturers will ultimately result in the loss of jobs and revenue.

"A deliberate policy to prioritise local manufacturing will catalyse job creation and economic growth.”

Senators in their contributions supported the motion and approved that the prayers be adopted by the Senate when they were put to voice vote by Senate President Godswill Akpabio.

BASHCMA, USAID IHP Engage Stakeholders on Improving Health Contributory Scheme Services

Segun Awofadeji in Bauchi

As part of efforts towards increasing enrollment into the Bauchi State Health Contributory Scheme and enhancing quality of care for enrollees, the State Health Contributory Management Agency (BASHCMA), with support from United States Agency for International Development’s funded Integrated Health Program (USAID IHP) have organised a one-day Town Hall meeting on improving the implementation of the scheme for efficient service delivery.

In a welcome address before the commencement of the meeting tagged ‘Providers and Community Forum’, held yesterday, at the conference hall of Jamil Hotel in Azare Town, the Executive Secretary, Mansur Mustapha Dada, said the meeting was to discuss issues around health contributory scheme as it affects service delivery.

Dada, implored stakeholders to open up and contribute in the discussions, pointing out that, "it is an avenue to voice out your concerns, advises on how to improve on what BASHCMA is implementing at the health facilities and challenges encountered at both community and facility level.

In a keynote address, State Director of USAID IHP, Dr. Alhassan Siaka, expressed hope that the meeting would come up with ways on how to increase enrollment into the State Health Contributory Scheme.

Siaka, wondered how Bauchi was still lagging behind in the

implementation of the scheme despite the political will demonstrated by the State.

"As stakeholders in the scheme, your voices can be heard at the highest level of Governance. This Forum provides such opportunities for you to share your experiences regarding the implementation of the scheme in your communities and health facilities.

“It also serves as a feedback mechanism aimed at improving the implementation of the Scheme in Bauchi State," Siaka added.

In a goodwill message, Bauchi State Coordinator of the National Health Insurance Authority (NHIA), represented by the Head of Department, Standards Quality Assurance of the office, Dr. Hassan Shuaibu Musa, charged participants to be proactive in mobilising their communities to enroll into the scheme so that they could access quality health care services. He assured them that the NHIA would always be there to provide support for BASHCMA in the implementation process when the need arises.

While intimating participants on the essence of the meeting, Health Financing Specialist of USAID IHP Bauchi, Pharmacist Khalid Kasimu said the objective of the meeting was to increase understanding of the State Health Insurance benefit package and, services to enrollees and also increase health insurance awareness among Ward Development Committees (WDCs).

8 FRIDAY, JULY 21, 2023 • THISDAY NEWS Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322
L-R: Chief of Staff to the President, Femi Gbajabiamila; Special Adviser, Special Duties, Communications and Strategy, Dele Alake; Ogun State Governor, Prince Dapo Abiodun; Former Kano State Governor, Abdullahi Umar Ganduje; Vice President, Kashim Shettima; President Bola Ahmed Tinubu; Senate President Godswill Akpabio; Kwara State Governor, AbdulRaham AbudulRasaq; Imo State Governor, Hope Uzodimma, and Lagos State Governor Babajide Sanwo-Olu, during the governors' meeting with the President at the Presidential Villa Abuja...... yesterday GODWIN OMOIGUI
FRIDAY JULY 21, 2023 • THISDAY 9

25TH LAUNCH OF GLOBAL TECH...

Pitan: Bank of Industry Grew Assets to N3.29tn in Seven Years

Maintains 2% non-performing loan rate at half-year Harps on implementation of innovative financing mechanisms

James Emejo in Abuja

The Managing Director/Chief Executive, Bank of Industry (BoI), Mr. Olukayode Pitan, yesterday disclosed that since it commenced its innovative financing mechanism, the bank’s total assets grew by 381 per cent between 2017 and the first half of 2023.

The total assets reached N2.38 trillion by 2022 and N3.29 trillion in June this year.

Speaking at the opening of the 3rd Annual General Assembly of the Association of Nigerian Development Finance Institutions (ANDFI) 2023, with the theme: “Innovative Financing for Developmental Impact” in Abuja, he said the equity position also grew 188 per cent from N220 billion in 2017 to N634 billion in H1 2023.

Pitan, said the creation of quality risk assets helped the bank to maintain a non-performing loan

(NPL) rate of about two per cent at half-year, adding that this fell below the regulatory threshold of five per cent.

He said the bank maintains a strong corporate governance structure as its accounts are audited by one of the big four firms and rated by international and local rating agencies including Fitch, Moody’s & Agusto & Co.

The BoI MD noted that for development finance institutions to deepen activities in innovative financing, they must foster mutual support and encourage cooperation among members.

He said this could be achieved through the exchange of technical expertise between member DFIs and similar organisations globally. He said, “Likewise, we must prioritise the professional advancement of our members while leveraging on the knowledge from best-in-class economies that have adopted innovative financing initiatives.”

Buratai: Porous Borders, Poverty Responsible for Organised Crime

Kuni

Tyessi in Abuja

A former Chief of Army Staff, Lieutenant General Tukur Buratai, has disclosed that porous borders, poverty, unemployment, greed and the pursuit of personal gains, were among the leading causes of the proliferation of criminal networks.

Buratai, who also listed absence of effective law enforcement such as the police, weak deterrence mechanisms and weak governance structures as contributory factors to organised crime, argued further that these were some of the reasons criminality has persisted in the country.

Speaking at a one-day International Conference organised by the Igbinedion University in partnership with the Buratai Centre for Contemporary Security Affairs, yesterday in Abuja, with the theme: 'Organised Crime Network as Emergent Threats to National Security', he said, "The causes of organised crime in the Sahel, particularly in Nigeria, are undoubtedly multifaceted.

"One of the primary contributory factors is the existence of porous borders, which allows for the easy movement of criminals and illegal goods across national boundaries.

"Also, prolonged conflicts in countries like Somalia, DR Congo,

Libya, Mali, Burkina Faso, and now Sudan, have a direct impact on the rise of organised crimes.

"Additionally, the prevalence of poverty and unemployment within the region creates a desperate environment that can push individuals towards criminal activities as a means of survival.

"The influence of jihadist groups in the Sahel, who exploit vulnerable populations and use violence to achieve their agendas, also plays a significant role in fueling organised crime.

"Furthermore, greed and the pursuit of personal gain contribute to the proliferation of criminal networks, as individuals are enticed by the potential financial rewards.

"Lastly, the absence of effective law enforcement (police), weak deterrence mechanisms and weak governance structures further enable criminal organisations to operate with impunity.”

While noting that "The impact of the COVID-19 pandemic in 2020 led to a significant transformation in organised crime,” he added that, "One notable consequence was the exponential growth of cyber criminal activities, taking advantage of the large number of individuals compelled to operate online for work, leisure, and commerce.”

He stressed that over the years successfully raised funds from the international capital market, which allowed it to not only fill critical gaps and provide the necessary funding for transformative projects, but also exposed the bank to global best practices and innovative solutions that promote institutional development, and improve the effectiveness of developmental initiatives.

The BoI boss said Nigeria is currently home to an estimated 200 million citizens and is projected to experience the largest population growth in Africa by 2050 to about 400 million people.

He said, “As we strive to achieve sustainable development goals and address global challenges, it has become increasingly clear that traditional

financing models are inadequate. “We need fresh ideas, creative approaches, and collaborative efforts to bridge the financing gap and drive the transformative changes our country desperately needs.

“This is where innovative financing mechanisms that will complement traditional DFIs funding sources come to play. By utilising specialised funding arrangements complemented by non-financial services, we as DFIs are able to act as growth catalysts to the development of the Nigerian economy.”

He said, “Though innovative financing presents a veritable tool for DFIs to raise additional resources for development, specific market failures and institutional barriers prevent private investment from flowing to developing

countries.

“Key challenges that have impacted development aspirations include asset deterioration, weak corporate governance and risk management frameworks, and so on. These issues have also influenced the success and growth of DFIs and private sector players in the Nigerian economy, which is one of the issues we plan to discuss today.”

Pitan further emphasised that DFIs play a significant role in ensuring sustainable economic and social development as evident in developed and developing economies where they remain instrumental to their economic successes.

He said DFIs must continuously work together, leveraging on members’ expertise, resources, and networks to unlock transformative

projects by working in synergy with the organised private sector and our respective governments. “Collectively, we can deliver the level of sustainable social and economic development that Africa needs,” he said.

He also stressed on the importance of international cooperation and solidarity in advancing innovative financing for developmental impacts. He noted that developed countries can support developing countries by providing resources, technology transfer, and capacity building.

As a result, he said multilateral institutions have a critical role to play in coordinating efforts, mobilising resources, and ensuring the effective implementation of innovative financing mechanisms.

NNPC Merges Select Business Units to Cut

Overhead Costs, Tackle Headwinds

Reorganises shipping, data services SBUs for optimum performance

The Nigerian National Petroleum Company Limited (NNPC) has continued its in-house reorganisation in its efforts to meet the new operational demands as a commercial entity, with the rationalisation of a number of its Strategic Business Units (SBUs).

Insider sources with deep knowledge of the workings of the national oil company told THISDAY on Thursday that the move which affected its data services unit, shipping departments and refineries management, among others was in line with the firm’s recent halt of its operations as a corporation.

Previously perceived as wasteful, the oil company had recently disclosed that it was repositioning itself as a commercially driven entity under the new Petroleum Industry Act (PIA).

In February this year, NNPC Limited officially took over the assets of the corporation after 46 years of its operations in that status after attaining legal requirements within the stipulated 18 months, in line with section 54 (3) of the PIA 2021.

It has now transitioned into a company whose operations will be regulated by the Companies and Allied Matters Act (CAMA),

prompting the leadership to take a rash of decisions to reposition the company.

Aside the recent change of nomenclature of the NNPC’s top officials, it was gathered that the rationalisation of the departments affected the former refining and petrochemical directorate which has now been merged with downstream operations.

In addition, to curb inefficiency brought about by unwieldy units, the three refineries which are currently undergoing rehabilitation are currently being managed as rehabilitation projects supervised by a refinery coordinator.

In November 2018, the firm under a separate management disclosed that it would shut down its business units that were not performing according to set standards at the time.

It noted that this was to ensure that all its Autonomous Business Units (ABU), and Strategic Business Units (SBUs) align with the new standards. But nothing much was heard about the move after then.

However, in line with the new direction of the company, the source stated that cutting costs and inefficiency within the NNPC was inevitable if it will meet its new status as a major competitor within the oil and gas industry.

“Yes, in a bid to optimise and reduce overhead costs, a couple of companies were merged and others were optimised for better operability and profitability.

“The former refining and petrochemical directorate was merged with downstream for better alignment with an improved cost effective structure.

“The three refineries are currently undergoing rehabilitation and are managed as rehabilitation projects supervised by a refinery coordinator. Once completed , the plan is to hand the assets over to reputable third parties with experience to operate and maintain them,” it stated.

Besides, THISDAY learnt that NNPC’s shipping companies, Nikorma Shipping Services Ltd., NIDAS shipping services as well as Marine Logistics have been merged so as to cut inefficiencies within its shipping operations.

“To streamline our shipping operations, three entities: NIDAS , NIKORMA and Marine logistics were merged to become NNPC shipping company.

“ But the most notable merger of all is that of the Integrated Data Services limited (IDSL), NNPC oil field services, and Frontier Exploration to become NNPC Services Limited (EnSERV) with a focus on exploration, seismic data

management, and general oilfield services,” the insider source noted.

This, it said led to the strengthening of the unit which has recently recorded feats with exploration activities in Kolmani in Gombe state, Ebenyi in Nasarawa and Wadi B in Maiduguri within the past one year.

On the allegation of nonremittance and discrepancies in payments to the federation account, the source responded that President Bola Tinubu had recently set up a panel to sort out the differences and that the committee is currently at work.

“NNPC has called for reconciliation of finances. The claims are subject to reconciliation with federal agencies as approved by the presidency. Preliminary investigations showed that NNPC is owed N4.2 trillion in terms of subsidy and gas to power debts. NNPC owes government N2.8 trillion, thus giving a net figure of N1.3 trillion being owed to NNPC by the Federation,” it added.

The company’s minders have recently been playing up the new status of the NNPC as a commercial and competitive player and would henceforth become a competitor to the International Oil Companies (IOCs) and other indigenous players in the industry.

NEWS
L-R: Director General of NITDA, Inuwa Kashifu Abdullahi; U.S Consul General, Will Stevens and President, Ascend Studios Foundation and Implementation Partner for GTA, Dr Inya Lawal during a press briefing heralding the July 25th launch of Global Tech Africa, an initiative of the Future Map Foundation designed and implemented by Ascend Studios Foundation Emmanuel Addeh in Abuja
10 FRIDAY, JULY 21, 2023 • THISDAY
FRIDAY JULY 21, 2023 • THISDAY 11

PRESENTING NOVA’S SCORECARD...

NECA to FG: Rising Cost of Living Driving Organised Businesses, Nigerians into Hopelessness

Pro-Tinubu protesters besiege N’Assembly, say president’s policies in right direction Group asks Tinubu to review FX policy Fuel price hike taking toll on Nigerians, PDP chieftain Tells FG

Chuks Okocha, Sunday Aborisade in Abuja, Dike Onwuamaeze in Lagos and Sylvester Idowu in Warri

The Nigeria Employers' Consultative Association (NECA), yesterday, expressed concern that the rising cost of living in the country was driving Nigerians and businesses into hopelessness and having a negative impact on Nigeria's poverty and production index.

This view was expressed in a press statement that was issued yesterday by the Director-General of NECA, Mr. Adewale-Smatt Oyerinde.

It stated that. “while we commend the removal of fuel subsidy, renewed efforts at curbing oil theft and the ongoing attempt to reform the tax administration system with the appointment of Mr. Taiwo Oyedele as chairman of the Tax Reform Committee, it is, however, important that government should take more drastic steps to stop the slide into hopelessness by Nigerians and indeed organised businesses.”

Adewale-Smatt added that “it is instructive to note that businesses and households are currently being over-stretched beyond their shock buffers. Already, there is a drag on business operation as production plans are persistently displaced by frequently changing factor costs, and households are constantly adjusting consumption to accommodate their inadequate real income."

He averred that, "in the last one year we have witnessed perpetual rising inflation, commodity price instability, reduced industry capacity utilisation and a gradual dwindling of the purchasing power of Nigerians, all of which has further dragged many enterprises out of existence and Nigerians below the poverty lines.”

Oyerinde, therefore, advised that the current President Bola Ahmed Tinubu’s administration should

focus its policy plans to improve the living standards of the masses with deliberate and quick responses, “as it is obvious to all, there is rising agitation owing to the rising cost of living, compounded by the increasing cost of PMS and threat of increment in electricity tariff amongst others.”

He further suggested that, "at this breaking point, it is imperative for government to quickly take deliberate actions to mitigate the persistent rise in inflation so as to address the fast-accelerating cost of living in the country.

“Such actions may include price stability mechanisms, periodic feedback on the progress of the ongoing work at the refineries, reversal of the VAT on AGO (diesel), and suspension of the planned upward review of electricity tariff.

“More importantly, government must conclude all palliative measures, which we expect should provide some immediate respite to both individual and corporate citizens.”

Meanwhile, protesters under the aegis of Stand Up Nigeria stormed the National Assembly yesterday, in support of the fuel subsidy removal and the policies of the Tinubu’s administration.

They insisted that Tinubu acted in good faith to save the nation's fragile economy from collapse.

They caused a slight disruption at the National Assembly's main entrance.

The convener of the group, Sunday Attah, said his members decided to hit the streets to show solidarity with the president, over the removal of fuel subsidy.

He said the President made the right decision by removing the ‘canker worm’ that had eaten deep into the economy.

Attah said, “The announcement on the 29th May 2023, by President Bola Ahmed Tinubu, that the subsidy on fuel has been removed has come

with mixed feelings.

“While some have hailed it as apt and timely others have expressed reservation that it may cause further hardship on the citizenry.

“After observing the initial reaction to the measure and the attendant panic buying and other impacts on the socio-economic life of Nigerians, we wish to state that the President has done the right thing by removing the subsidy as the advantages of doing so outweigh the disadvantages.

“We believe other measures would follow that will make Nigerians willing to see the increase in the price of petroleum products as a necessary sacrifice for growing the economy.”

On the contrary, the Human Rights Writers Association of Nigeria, (HURIWA), yesterday, asked Tinubu to review the naira devaluation and the hurriedly executed removal of subsidy on petrol which it argued have impoverished millions of Nigerians in the last seven weeks since the president’s assumption of office.

HURIWA, in a statement by its National Coordinator, Emmanuel Onwubiko, said it was painful that the Tinubu-led administration was totally disconnected from the masses and the harsh economic realities that over 200 million Nigerians have been subjected to in the last 50 days since the

inauguration of the All Progressives Congress government.

HURIWA’s Onwubiko said, “President Bola Tinubu must quickly revise his straight jacket devaluation of Nigeria's national currency to save the Naira from crashing to the crisis point that the Zimbabwean currency. Tinubu must act fast before Nigeria gets to that Zimbabwean situation.

“Tinubu must restore the people’s confidence in the financial system by naming a substantive CBN governor, and a minister of finance, and constitute a strong economic management team. It is not enough to declare state of emergency on food, or hand out

N8,000 palliative to over 12 million households, the President must ensure that the high inflation stops.

“HURIWA also calls for comprehensive probe of the refineries and the humongous amount of public funds that went into the so-called turn around maintenance of the four refineries yet none is refining petrol making Nigeria to rely entire on imports which is a way to drive millions of Nigerians into desperate poverty.”

On his part, the Chairman of DAS Energy Services in Udu near Warri, Delta State, Chief Sunny Onuesoke, lamented that the hike in the pump price of petrol was taking a devastating toll on Nigerians.

NUT Seeks 20% Budgetary Allocation to Education Sector

Blessing Ibunge in Port Harcourt

The Nigeria Union of Teachers (NUT) has called on the federal government to consider increasing budgetary allocation to the education sector to 20 per cent.

This call was made yesterday, at a one-day workshop on 'Privatisation and Commercialisation of Education', organised by NUT in collaboration with the Education International (EI), Friedrich and STIFTUNG.

The workshop was for teachers from nine states of South-south and South-east, held in Port Harcourt.

The workshop also noted the need to end the ongoing privatisation and commercialisation of education in the country, adding that it was not healthy for the nation's educational sector.

The teachers further urged governments at all levels to make better investment in education in order to make public schools lucrative, regretting that proliferation of private schools may have led to the loss of some educational values.

In his remarks, the National President of NUT, Audu Amba, expressed concern with the proliferation of private schools, stressing that education has been turned into commodity only for profit-making. Amba said: "As we embark on the campaign, we are not unaware of the fact that the country's National Policy on Education provides for participation of private education providers to complement efforts of government, but what has become worrisome and unacceptable is the ugly trend where education is turned into a commodity for sale with the motive of making profit, coupled with the glaring failure of public authorities to regulate and monitor the activities of non-state actors in order to protect the right to education of our children through the provision of adequate funding and investment in quality public education.

"I wish to specially acknowledge at this juncture the importance of education as a veritable instrument

for human capital development and pivot of national development. Our country, Nigeria cannot afford to mortgage the future of our children and youths by failing to accord the education sector it pride of place in the nation's development agenda. We must brace up as a country to ensure the provision of free and qualitative public education."

On safeguarding the right to education, Amba demanded an improved budgetary allocation for education, adding that improvement on the environment and learning facilities in the public schools would bring an end to existence of private schools.

On his part, the African Director of Education International, African Regional Office, Ghana, Dr. Dennis Sinyolo, argued that public schools were sustainable because they cater for the needs of everybody irrespective of gender, social class of ethnicity.

Sinyolo, said in many countries, public schools are free, adding that private school are there for profit-making from parents and

communities.

He added: "Why we have private schools is that the government Nigeria is not investing sufficiently in education. For example, internationally through the United Nations, nation's agreed to invest at least 20 per cent of their national budget on education, but the government of Nigeria is investing less than 10 per cent."

He regretted that Nigeria was the least country in Africa in terms of investment in education, saying private schools were flourishing because the government lacked the will to make meaningful investment in the education sector.

In what appeared like a protest, the teachers displayed, placards with different inscriptions, 'Don't Mortgage the Future of our Children', 'Say no to Privatisation and Commercialisation of Education,' 'Education is not a Tradable Commodity, Shun Commercialisation of Education,' 'Education is a Common Good, Support Quality Public Education for All," and others.

Obaseki: Benin Mall 75% Complete, to Be Opened Before Year-end

Expresses satisfaction with pace, quality of work

Edo State Governor, Mr. Godwin Obaseki, has expressed satisfaction with the pace and quality of work at the Benin City Mall, noting that the project on completion would further strengthen the state’s position as one of the best retail hubs in the country.

The governor said this when he inspected the ongoing development of the Benin City Mall, situated along Sapele Road in Benin City.

Obaseki was accompanied by the Commissioner for Finance, Budget, Economic Planning and Development, Mrs. Adaze AgueleKalu, and other top government officials.

According to a statement, the governor said, “I am glad and impressed that Edo is taking its position as a retail hub and Edo people will not leave their State for other States to experience retail hub

to buy things from large malls. We are building a mall that is larger and better than any other one you can think of.

“We are building a mall that has a lot of entertainment space. What makes the Benin Mall unique is the presence of a library where parents can bring their children to have the library experience. This will be part of the revamp of Edo State Library which is going to be

largely an e-library.

“We are expected to have more than six million titles which can be accessed electronically. This is one of the branches to be opened here as we work to resuscitate other libraries across the State. Perhaps the mall is the only mall in the Continent where you have a library.”

Obaseki added: “Here, we would have the educational, retail, and

entertainment experience with four world-class cinemas and are looking forward to the second Edo International Film Festival where we have not less than seven cinema halls in the State to review all the films entered in for the competition.

“We are repositioning Edo State and Benin City to take its place in the Country as a destination for young people to come and have business experience and all

other experiences they want in the World.”

On her part, Adaze Aguele-Kalu said, “The Benin Mall will be ready for launch before the end of this year. For Christmas, be ready to have a nice lit-up mall. It will cater to different fields and sectors within the retail industry. This is one of the governor’s passionate projects and very soon, we will be commissioning this.”

NEWS
12 FRIDAY, JULY 21, 2023 • THISDAY
L-R: Executive Director, NOVA Merchant Bank, Emmanuel Onokpasa; MD/CEO, Nath Ude; Independent Non-Executive Directors, Funmi Oyetunji; Gbemisola Laditan; Chairman, Phillips Oduoza; Executive Director, Funke Okoya, and Company Secretary/Legal Counsel, Nnadozie Ohaji, during the company’s 6th Annual General Meeting held in Lagos… Wednesday
FRIDAY JULY 21, 2023 • THISDAY 13
FRIDAY JULY 21, 2023 • THISDAY 14
FRIDAY JULY 21, 2023 • THISDAY 15

FLAG-OFF OF UBA FOUNDATION’S TREE PLANTING INITIATIVE...

L-R:: Executive Director/GCOO, United Bank for Africa(UBA),

Court Orders DSS to Allow Kanu Access to Personal Physicians

Alex Enumah in Abuja

Justice Binta Nyako of a Federal High Court, Abuja, yesterday, ordered the Department of State Service (DSS) to allow the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, access to his personal doctors.

Nyako made the order while delivering ruling in an application for an order

of mandamus compelling the secret service to allow Kanu, whose health was said to be deteriorating in custody of the DSS, meet with his personal doctors.

The IPOB leader, who have been in custody of the DSS since he was rearrestednearly two years ago, was challenging the refusal of the agency to allow him have unhindered access to his private physicians.

Delivering ruling in the

NOVA Merchant Bank to Transition to Commercial Banking

NOVA Merchant Bank has received approval from its shareholders to transition to commercial banking. The shareholders gave their unanimous approval during the company’s 6th annual general meeting (AGM) held in Lagos .

According to them, the bank remains well-positioned to sustain and build upon its growth legacy.

At the AGM, the company’s Board of Directors unveiled a comprehensive restructuring plans on how the bank would transition from a merchant bank to a commercial banking license.

The Chairman, NOVA Merchant Bank, Mr. Phillips Oduoza, who addressed shareholders, explained that the decision to transition would help the bank to further streamline its operations, bolster its financial stability, and foster sustainable growth across its businesses.

He said: “I am excited about the prospects of NOVA as we embark on this new growth phase. This strategic move is in line with our vision of expanding operations and diversifying services while providing exceptional services to our valued customers.

“The management of the bank has firmly established a remarkable legacy of growth since its inception and has consistently demonstrated its ability to achieve substantial progress across various parameters and the commercial banking license

will strengthen the bank’s revenue base, entrench value creation, impact earnings growth and sustain higher returns for the shareholders, while affording more banking customers across the nation the opportunity to enjoy the products and services of NOVA Bank.”

Also speaking, Managing Director of NOVA Merchant Bank, Mr. Nath Ude, said, with the new licence, the bank was poised to extend its comprehensive range of financial services throughout Nigeria and cement its position as a leading player in the Nigerian banking industry.

“The resounding approval from the shareholders for the transition to a commercial bank reflects their confidence in NOVA’s ability to thrive in the evolving financial landscape. The bank remains resolute in its pursuit of sustainable growth, while continuing to provide its customers with innovative financial solutions. As we transition into a commercial bank, NOVA aims to expand its services and further enhance its position as a trusted provider of cutting-edge financial solutions in Nigeria,” he stated.

Ude restated the bank’s commitment to continue to invest in new technologies, including our robust digital platform, to create exceptional service experience for its customers.

application, the court held that Kanu was entitled to a medical doctor of his choice, adding that such expenses should be borne by the applicant (Kanu).

Nyako held that Kanu while under the investigative custody of the DSS, was entitled to medical examination at his cost.

The court further held that medical examination of

kanu outside the facility of DSS should be supervised by Kanu's team of medical doctors and the reports should be sealed for security reasons.

“On the whole, this application succeeds and is hereby granted,” Nyako held, having dismissed the preliminary objection by the DSS.

The court held that the case

involving the IPOB leader before the High Court of Umuahia in Abia State was different from the present case, adding that, parties might be the same, cause of action was different.

Reacting to the judgement, Kanu’s lead Counsel, Prof Mike Ozekhome (SAN) commended Nyako for her

courage and godliness in the judgment.

He also observed that the earlier judgment of the court, which struck out eight of the 15 counts charge against Kanu as well as the judgment of the Court of Appeal which struck out the remaining seven counts have now become a new case study in the legal practice.

Tinubu, Service Chiefs, NSA to Attend Conference on Security in Africa

Olawale Ajimotokan in Abuja

President Bola Tinubu, the service chiefs and the National Security Adviser (NSA) will be among other guests that will parley on improving security in Africa at the ASIS International Sub-Saharan African conference in Abuja from July 26 to 28.

Chairman of American Society for Industrial Security (ASIS), Edward Orim,said yesterday that the conference would help identify vulnerabilities and support government to curtail insecurity with new ideas that would help improve security in Africa.

FCTA Permanent Secretary, Olusade Adesola, is among the keynote speakers at the conference themed: “Managing security risks in Volatile, Uncertain, Complex, Ambiguous, Digital (VUCAD) Africa” expected to draw participants from Ghana, South Africa, Europe and other parts of the world.

“We normally have conferences between Africa, Europe, Asia and America, but for now we are having the African conference, which Abuja is hosting. In Nigeria, the current administration they are taking fight against bandits and criminal elements very seriously.

“Recently, the new chief of

Army Staff said there is no going to be any negotiation with these guys again, as they should surrender their arms.

“So, I think this is what this conference will help to highlight and encourage. This is why we are having a military and law enforcement dinner to appreciate them that they are doing the right thing, which they should continue,” Orim said.

He said the association which is an industrial security body that is recognised all over the world, with about 34,000 members intends to have the international conference in Dallas, USA in September.

"I will like to encourage

members of the public and law enforcement agencies to find time and get into the links to register, and come in person for the conference, as there are a lot of things they will benefit from participating.

"One of the main benefits we need to gain is to have members have networking, and most times those working government, by the time they are getting to retire, they come out and cannot fit into society, and they will start going into farming and so on. But this body is certified which helps members to be able to have a plan for life after active service,” he said.

NSCDC Ready to Collaborate on Safe Schools Programme

Michael Olugbode in Abuja

The Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr Ahmed Abubakar Audi, has expressed willingness to work collaboratively with local and international partners to enhance effective and successful implementation of the Safe Schools programme in Nigeria.

The CG stated this during a working visit of the Head of Advocacy and Campaigns Impact, Accountability and Learning, Save the Children Ankara Turkey, Mr

Vahit Kutluer, to the National Safe Schools Response Coordination Centre (NSSRCC), at the NSCDC National Headquarters, Abuja. Represented by the Commander of the Centre, CSC Tersoo Shaapera, PhD, the CG said he was delighted with the contributions of Save the Children International (SCI) for its role in sponsoring efforts aimed at protecting children globally and stressed that the centre welcomes partnership from local and international stakeholders like the SCI.

"With the establishment of the centre, schools have been

securitised, thus placing high premium on the protection of students, teachers, workers and communities," the CG said. He announced the determination of the Corps to synergise with other security agencies and critical stakeholders in ensuring maximum success of the programme.

The Head of Advocacy and Campaigns Impact, Accountability and Learning from Save the Children Ankara Turkey, Vahit Kutluer, in his speech, explained that the visit to the NSSRCC provided him an opportunity to ascertain areas of possible

collaboration with the centre.

He expressed delight with the information gathered at centre and assured that Save the Children International (SCI) could support the centre in areas of need, having understudied the implementation of Safe Schools Declaration in Nigeria.

An education specialist, Safe School (UNICEF), Mr Believe Eke, who was part of the delegation, said he was pleased with his experience at the centre, noting that UNICEF would also collaborate with the centre to harmonise its work with the Ministry of Education.

Mr. Alex Alozie; General Manager, Lagos State Parks and Gardens, Adetoun Popoola; Group Managing Director/CEO, UBA, Mr. Oliver Alawuba; Executive Director, Finance and Risk Management, Ugo Nwaghodoh; and Company Secretary, UBA, Bili Odum, at the flag-off of UBA Foundation’s Tree Planting Initiative, held at the UBA Foundation Garden in Marina, Lagos ... yesterday
16 FRIDAY, JULY 21, 2023 • THISDAY NEWS

PSC Approves Appointment of Two DIGs, 14, 052

Inspectors,

Confirms 9,016

ASPs

Promotes Force PRO to ACP, promotes police officer assaulted by Seun Kuti for professionalism, exercising restraint Bids farewell to Justice Ogunbiyi, exiting commissioners of commission

Kingsley Nwezeh in Abuja

The Police Service Commission (PSC) yesterday, approved the promotion of two Assistant Inspectors-General of Police (AIGs) to the rank of Deputy Inspectors-General of Police (DIG).

The commission also approved the promotion of the Force Public Relations Officer, CSP Olumuyiwa Adejobi, to the next rank of Assistant Commissioner of Police (ACP) and the confirmation of 9,016 unconfirmed Assistant Superintendents of Police (ASP).

A statement signed by

spokesman of the commission, Ikechukwu Ani, said the plenary also approved the promotion of 14,052 Inspectors to Assistant Superintendents of Police (Unconfirmed) while one Inspector Habila Bulus was promoted to ASP 11 for his gallantry and commitment to duty.

Also, Inspector Mohammed Aminu, who trended on social Media where he was seen being assaulted in uniform by Seun Kuti, was also promoted to ASP 1.

The commission noted that inspite of the unwarranted provocation, intimidation

and serious assault, the officer exhibited high level of professionalism, restraint and chose to follow the due process of law to seek redress.

It said CP Olalaye Falaye, former Commissioner of Police Ebonyi State Command was earlier promoted to the next rank of Assistant Inspector General of Police after the commission had approved the adjustment of his position in the seniority list.

The statement disclosed that at the 21st plenary meeting in Abuja, the commission approved the appointment of AIG Matthew Akinyosola in charge of the Special Protection Unit (SPU)

as Deputy Inspector General of Police to fill in the position vacated by the acting Inspector General of Police, who had represented the South-west zone in the police management team.

DIG Akinyosola's tenure ended on July 1, 2023, when he retired from service paving the way for the commission to appoint AIG Sylvester Abiodun Alabi, AIG Zone 12, Bauchi, DIG representing the South-west from July 1, 2023.

Some of the inspectors, who attended the last departmental selection board promotion interview and whose promotion to the rank of unconfirmed

Abbas: Africa Bears Heaviest Burden of Global Food Insecurity

Juliet Akoje in Abuja.

The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has said that the burden of food insecurity in the world was heaviest on Africans.

In a statement signed by the Special Adviser on Media and Publicity to the Speaker, Mr. Musa Abdullahi Krishi, yesterday, Abbas, while delivering an address at the third plenary session of the ongoing 18th Commonwealth Speakers’ and Presiding Officers’ Conference (CSCOP) in Yaoundé, Cameroon, noted that the parliaments on the continent could address some of the issues causing food crisis.

The Speaker’s address was titled: "Addressing Challenges of Food Security in Africa by Promoting Investment in Agriculture."

The statement read: “While food insecurity is a global crisis, Africa sadly bears the heaviest burden of the global lack of access to food and nutrition. The 2022 Global Report on Food Crises noted that one out of every five African goes to bed hungry daily while an estimated 140 million out of Africa’s one

billion populations face acute food insecurity.

“These observations have been made by various speakers in this session, and there are several causes for this challenge.

"Some of the factors causing food crisis in Africa are armed conflicts of different kinds and magnitude; climate change; impact of the COVID-19 pandemic; rising population; subsistence farming and crude agricultural practices; lack of access to credit, poor infrastructure, and lack of investment in agri-business, among others.

“Suffice it to say that these factors reinforce themselves. For example, armed conflicts disrupt agricultural activities by destroying crops, livestock and preventing farmers from access to the farms."

Speaking further, the Speaker said: “The Nigerian case demonstrates this much. The activities of Boko Haram terrorists in the north eastern part of the country greatly contributed to Nigeria’s rising food insecurity as farmers could not have access to their farms following the sacking of several villages in the wake of the attacks which lasted for several

years.

“The terrorist attacks equally impacted negatively on the activities of commercial fishermen within the Lake Chad region."

The Speaker also noted that on the other hand, the recurring conflicts between herders and farmers in Nigeria was a, “fallout from the impact of climate change which brought in its wake, drought and extreme weather conditions in the Northern part of the country, which necessitated the need for herders to move their flock to other parts of the country for grazing.”

According to him, the movement of herds, “often destroys farmlands and crops, which triggers retaliatory action from farmers who in turn, slaughter the livestock of the herders,” stressing that, “These two actions further worsen the food crisis as both livestock and crops are destroyed.”

The Speaker buttressed his point with the fact that extreme weather conditions occasioned by climate change and global warming posed severe threats to agricultural production and increases food insecurity within the continent.

“Our food insecurity is equally exacerbated with the poor infrastructure within the continent which ensures that farmers are unable to preserve produce, transform them as well as move their produce to urban centres for better pricing.

“Related to the foregoing is the lack of investment in agribusiness, which is as a result of a number of factors including poor infrastructure, ill-conceived policies, lack of access to land, high cost of doing business and many others.

“Farm implements and other incentives are not within the reach of most farmers in our continent who largely operate at a subsistent level," he added “We must enact legislations that provide access to land, credit, and other incentives that make investing in agribusiness attractive and rewarding. We can equally reduce food losses with the necessary legislative framework that promotes climate-proof agricultural production. Greenhouse farming can help the continent overcome adverse weather conditions induced by climate change and increase food production and supply," he said.

Assistant Superintendents of Police were approved included Chioma Precious Osuagwu, Special Protection Unit (SPU) BASE 6; Emmanuel Ani; Rivers State Command; Godwin Eneji; PMF 3, Enugu; Inspector Joan Nnenna Chime, Enugu State Command; Ifeoma Ezeugo, Enugu State Command; Daniel Yusef; Mathew Nwaosuagwu; Bello Abdullahi and Macus Gah.

Others were Muter Sani; Chinedu Agbo; Apie Jeremiah; Nwali Nelson; Barnabas Daniel; Obadiah Waje; Safiya Mohammed; Morakinyo Hamzat; Ramatu Abdullahi; Ivwidiotu Lucky; Ogbonna Immaculata; Adio Olubunmi; Amah Bright; Olufemi Kayode and Dennis Fwah amongst others.

Arase, charged the newly promoted officers to see their promotion as a call to greater commitment to the service of their fatherland.

He noted that benefits and burden go together and warned that the police officers must respect the human rights of the citizens as any officer who goes against this will face serious consequences adding that officers who conduct themselves within the tenents of the law will continue to enjoy the support and protection of the commission.

The Chairman declared that the welfare of the officers will remain paramount in the agenda of the of the commission.

Arase said this was the time for all hands to be on deck for a national rebirth.

"We must support this government to succeed and ensuring a secured and peaceful nation is a task we must not toy with" he said.

Meanwhile, a delegation of the police management team led by DIG Mohammed Dan Mallam on Wednesday July 19, 2023, joined the management of the Police Service Commission at its Corporate Headquarters in Jabi, Abuja, to officially bid some members of the commision farewell in a convivial valedictory

session held in their honour.

Speaking at the valedictory session for the out going commissioners of the commission, Chairman of the Commission, Dr. Solomon Arase, who presided over the ceremony said they were worthy of celebration for standing tall and strong in the midst of obvious disquiet "which hitherto characterised the activities of the commission and held the forte of the commission down when it seemed it would disintegrate".

Arase noted that the outgoing commissioners jointly lifted and positioned the commission where " it is today despite challenges and the characterising conflict between the commission and the Nigeria Police".

The chairman affirmed that he will continue to reach out to them anytime the commission comes in need of their expertise .

The Permanent Secretary of the Commission, Dr. Ifeoma Anyanwutaku, had in her remarks during the ceremony said their legacies for the commission, "are quite laudable and cannot be erased in the history of the commission. You have left indelible foot prints in the commission never to be forgotten."

Anyanwutaku appealed to all the outgoing members not to close their doors to the commission as it would continue to reach out to consult and tap from their wealth of experience, wisdom and knowledge.

The commissioners exiting the commission on July 24, 2023, include Justice Clara Ogunbiyi representing the Judiciary and the North-east geopolitical zone, AIG Lawal Bawa (rtd) representing the Police and North-West geo-political zone, Mr. Austin Braimoh, representing the Media and the South-south geo-political zone, Hajia Najatu Mohammed representing Women, and Rommy Mom, representing the Organised Human Rights Organisations and the North Central geopolitical zone.

INSTALLATION CEREMONY...
17 FRIDAY, JULY 21, 2023 • THISDAY NEWS
L-R: Vice President, Inner Wheel Club of Onipanu, Olawunmi Oloko; President, Kemi Evbota; District Chairman, Magdalene Adegoke;Welfare, Olajumoke Olayinka, and Secretary, Omoyeni Ayeni, at the installation ceremony of Adegoke as the 40th District Chairman of Inner Wheel Nigeria District 911, held in Lagos…recently

POLITICS

17 Aspirants in Subtle Move to Succeed Obaseki in Edo

At the last count, no fewer than 17 aspirants from the three major political parties namely; All Progressives Congress (APC), People’s Democratic Party, and Labour Party (LP), have indicated their interest to contest the governorship primaries next year with the zeal to replace Godwin Obaseki when his tenure expires after completing his two term in office.

While the APC boasts of 11 aspirants at the last count, the PDP and Labour have three governorship aspirants each.

From available statistics, bulk of the aspirants are from Edo central zone and they are: Kenneth Imansuangbon (LP), Gideon Ikhine (APC), Gideon Obhakhan (APC), Victor Eboigbe (APC), and Joe Ikpea (APC).

Others are Dorry Okojie (LP), Professor Osarhiemen Osunbor (APC), Festus Ebea (APC), Retired Col. David Imuse (APC) and Asuen Ighodalo (PDP)

From Edo South, you have the likes of Ehiozuwa Johnson Agbonayinma (APC), Senator Matthew Urhoghide, No party yet but fraternising with LP, Pastor Osagie Ize-Iyamu (APC), and Osaretin Ighile (LP).

While in Edo North, you have the likes of Prince Clem Agba, immediate past Minister of State for Budget and National Planning (APC); Edo state deputy governor, Mr. Philip Shaibu (PDP); and member representing Etsako federal constituency in the House of Representatives, Mr. Dekeri Sunday Anamero (APC).

Here is a short profile of some of the aspirants.

Kenneth Imansuangbon: Law graduate of Obafemi Awolowo University (OAU). School Proprietor and philanthropist. Former member of the PDP who recently defected to the Labour Party to actualise his governorship ambition. Does not have a political godfather. Loved by many because of his philanthropy that predates his political ambition. However his independent mindedness can be a minus. However, may likely emerge as the LP candidate all things being equal.

Gideon Obhakhan: A University of Benin graduate of Electrical/Electronic Engineering. Worked with MTN, former Commissioner for Education in Adams Oshiomhole’s administration. Likely to split delegates votes because he is from same local government with Ikhine and Prof Oserhiemen Osunbor.

Gideon Ikhine: A Nigerian engineer and politician, Fellow of the Nigerian Society of Engineers (FNSE) and a member of the Council for the Regulation of Engineering in Nigeria (COREN). A 1990 graduate of Civil Engineering from the University of Benin, Director General, Obaseki/Shaibu Campaign Organisation. One of the aspirants to step down for Governor Godwin Obaseki during the 2020 PDP primaries when he was disqualified by his party, APC. Just left PDP for APC over what he called irreconcilable difference between him and Obaseki who he accused of hijacking the party. His recent defection from his former party to APC will surely hunt him because those already on ground may not tolerate his ambition as a new comer to the party.

Victor Eboigbe: APC Chieftain from Ewohimi, Esan South East LGA. A Chemical Engineer from University of Benin, former aide to Adams Oshiomhole.

Joseph Ikpea: Former Chairman, Esan South East LGA of Edo. Former Edo state Commissioner for Solid Minerals, Oil and Gas; Administrator, Lee Engineering and younger brother to billionaire business mogul and philanthropist, Chief Leemon Ikpea. Will have strong financial backing because of his elder brother’s deep pocket. However, he may experience obstacle first from people of his area who severally have accused him of not doing enough as council chairman.

Dorry Okojie: Business man per excellence who is into property/estate development. He is also the Director of Finance, Esan Solidarity Movement, a socio-cultural body of Edo Central extraction. He is in the class of politicians who want to run before they can walk.

Osarhiemen Osunbor: Professor of jurisprudence, first-class graduate of University of Nigeria, two-time senator of the federal republic, representing Edo Central and other credentials of no mean repute.

Has a brighter chance of getting the party ticket should APC zone the party governor-

ship ticket to Edo Central because of carriage, experience and education. However, his ambition maybe cut short if he is made a minister as rumours suggest.

Festus Ebea: Two-time member, Edo State House of Assembly; former deputy speaker/ speaker of the state assembly representing Igueben state Constituency. His presence may jeopadise chances of other aspirants from his area.

Col. David Imuse (rtd.): Medical Doctor, product of University of Benin, military person-

nel and current state chairman, APC. One of the jokers among the aspirants from APC and Edo Central zone.

Asuen Ighodalo: Economist, lawyer, Investment banker, Chairman, Sterling Bank, Chairman, Nigeria Brewery, Director General, “Alaghodaro” a yearly celebration of Godwin Obaseki’s achievements since inception as governor of Edo State. Learnt he is being backed by Obaseki as suçcessor but still weighing the option especially with his latest portfolio as Chairman of NBL.

Ehiozuwa Johnson Agbonayinma: Edo APC chieftain. Former member, House of Representatives for Egor/Ikpoba-Okha federal constituency. Board member, Code of Conduct Bureau (CCB). Has great chance of winning should his party zone the governorship to Edo South. Besides, the prayers from the Benin throne will go a long way to help his ambition.

Matthew Urhoghide: Pharmacist, two time senator, representing Edo South in the red chamber, one-time defuct APP Chieftain, APC stalwart, and PDP. Recently resigned his membership of the PDP. May have no chance in the contest having resigned from PDP and has not indicated his current political persuasion.

Pastor Osagie Ize-Iyamu: Pastor in Lord’s vineyard. Former Chief of Staff to former Governor Lucky Igbinedion, former Secretary to State Government (SSG), a former member of PDP, former deputy national chairman (South/ south) of defunct ACN, contested governorship elections twice. Still considering whether to contest or not.

Osaretin Ighile: Studied Sculpture, painting and performance art at Auchi Polytechnic, Auchi. Not known in political circle.

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

Of Engine Room and Enugu Govt House

Arguments over the genuineness of academic and sundry certificates were not limited to Abuja, the nation’s Federal Capital Territory (FCT). Around the Southeast, Anambra and Enugu competed with the Presidential Election Petition Tribunal disclosures for the national headlines.

While the case of doctoring of her Joint Admission and Matriculation Board Examination’s (JAMB) score by Joy Mmesoma Ejikeme enjoyed vigorous online and mainline media attention, in Enugu, the National Youth Service Corps (NYSC) continued its disagreement with the state governor, Peter Mbah, over his NYSC discharge certificate.

The controversies over documents and results are not the purview of this write-up, because while the disputations over the authenticity of certificates raged, another disturbing development reared its head in Enugu, the capital of the Southeast geopolitical zone.

Reading and listening to reports from the Government House have been confusing to residents of Enugu State. It is as if the state is back to the days of Sule Ahman, one of the former military administrators of the state. It has all to do with the current Secretary to the State Government (SSG), “Prof”. Chidiebere Onyia.

On Tuesday, May 30, when Governor Mbah announced Mr. Chidiebere Onyia as the SSG, many people believed that fresh ideas were coming to define governance in the state. But,

nearly two months after his inauguration, Mr. Onyia has continued to raise doubts about his understanding of his job description and demands of the office of SSG.

Shortly after he was sworn into office as SSG, Mr. Onyia did a short video message.

In the video clip the SSG could be heard announcing that Governor Mbah comes from the private sector, while he was coming from development background. “The pair is good for Enugu State,” he declared. No doubt, Onyia seems to be enjoying himself and his office.

At every outing that Governor Mbah invites him, Mr. Onyia insists on making pronouncements as if he is also a self appointed spokesman or Information Commissioner. The office of the SSG is often described as the engine room

of the state government, because that is where policies are synthesized for efficient and effective implementation.

However, distracted by some craving to be in the eyes of every citizen, Mr. Onyia does not allow a day pass without issuing a declarative statement among other releases that define military regimes.

One of such was his demand that the compensatory allocation of land by the state government should cease with immediate effect. The magisterial way he conceives and delivers public communication motivated a closer look at the man’s background.

It is possible that Governor Mbah was mistaken in appointing the SSG unless Mr. Onyia was imposed on the administration to satisfy latter day godfathers, religious leaders or attempt to deodorise the stench of post-election disputations.

Appointment of a Secretary to the State Government is expected to be a blend of political strategy to build social harmony and enhance good governance system.

One thing is clear, although one does not have to be a professor to be a good SSG; Chidiebere Onyia ought to have understudied previous occupants of the office to decorate it with the usual finesse.

-Ugwu writes from Enugu

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

18 THISDAY FRIDAY JULY 21, 2023
Adibe Emenyonu writes on the pedigree of 17 aspirants from across political party divides who have stepped up moves to succeed Godwin Obaseki as Governor of Edo state.
Acting Group Politics Edito r DEJI ELUMOYE Email: deji.elumoye @thisdaylive.com 08033025611 SMS ONLY
Douglas Ugwu writes on the need for the office of the Secretary to Enugu State Government to live up to expectation.

A Mutual fund (UnitTrust) 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 InvestmentTrust) 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 19-July-2023, 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

INFRASTRUCTURE FUND

FRIDAY, JULY 21, 2023 • THISDAY MARKET NEWS 19 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.
GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund NameBid PriceOffer Price Yield / T-Rtn Abacus Money Market Fund N/AN/AN/A Vantage Balanced Fund N/AN/AN/A Vantage Guaranteed Income Fund N/AN/AN/A Kedari Investment Fund (KIF) N/AN/AN/A Vantage Equity Income Fund (VEIF) - June Year End N/AN/AN/A Vantage Dollar Fund (VDF) - June Year End N/AN/AN/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund NameBid PriceOffer Price Yield / T-Rtn Lotus Halal Investment Fund 1.77 1.80 10.65% Lotus Halal Fixed Income Fund 1,179.47 1,179.47 5.57% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund NameBid PriceOffer Price Yield / T-Rtn Meristem Equity Market Fund 15.59 15.68 34.73% Meristem Money Market Fund 10.00 10.00 11.16% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund NameBid PriceOffer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.10 102.10 10.12% Norrenberger Money Market Fund (NMMF) 100.00 100.00 10.97% Norrenberger Dollar Fund (NDF) ($) 101.76 101.76 10.73% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund NameBid PriceOffer Price Yield / T-Rtn PACAM Balanced Fund 1.95 2.01 0.25% PACAM Fixed Income Fund 11.66 12.00 5.68% PACAM Money Market Fund 10.00 10.00 9.90% PACAM Equity Fund 1.90 1.93 34.15% PACAM EuroBond Fund 127.22 131.00 0.15% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund NameBid PriceOffer Price Yield / T-Rtn SCM Capital The Frontier Fund 149.76 153.83 19.13% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund NameBid PriceOffer Price Yield / T-Rtn SFS Fixed Income Fund 1.05 1.05 11.04% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund NameBid PriceOffer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 4,464.11 4,497.75 31.66% Stanbic IBTC Bond Fund 251.81 251.81 6.89% Stanbic IBTC Ethical Fund 1.86 1.88 48.41% Stanbic IBTC Guaranteed Investment Fund 342.98 342.98 9.53% Stanbic IBTC Iman Fund 333.11 336.71 42.53% Stanbic IBTC Money Market Fund 1.00 1.00 9.72% Stanbic IBTC Nigerian Equity Fund 15,978.38 16,164.44 46.31% Stanbic IBTC Dollar Fund (USD) 1.42 1.42 9.70% Stanbic IBTC Shariah Fixed Income Fund 124.89 124.89 6.83% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 120.73 120.73 13.49% Stanbic IBTC Absolute Fund 4,792.36 4,792.36 12.65% Stanbic IBTC Aggressive Fund 4,576.07 4,632.20 64.57% Stanbic IBTC Conservative Fund 4,919.62 4,941.84 29.27% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund NameBid PriceOffer Price Yield / T-Rtn United Capital Equity Fund        1.22 1.23 33.66% United Capital Balanced Fund 1.69 1.70 30.42% United Capital Wealth for Women Fund 1.31 1.33 22.55% United Capital Sukuk Fund 1.13 1.13 12.46% United Capital Fixed Income Fund 1.89 1.89 7.07% United Capital Eurobond Fund 121.36 121.36 5.81% United Capital Global Fixed Income Fund 1.05 1.05 8.78% United Capital Money Market Fund 1.00 1.00 9.76% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund NameBid PriceOffer Price Yield / T-Rtn Zenith Balanced Strategy Fund N/AN/AN/A Zenith ESG Impact Fund N/AN/AN/A Zenith Income Fund N/AN/AN/A Zenith Money Market Fund N/AN/AN/A VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid PriceOffer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 6.34 6.44 57.29% Vetiva Consumer Goods Exchange Traded Fund8.71 8.81 48.74% Vetiva Griffin 30 Exchange Traded Fund23.48 23.68 32.57% Vetiva Money Market Fund1.00 1.00 9.97% Vetiva Industrial Goods Exchange Traded Fund28.44 28.64 42.12% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund144.53 146.53 -8.34% EXCHANGE TRADED FUNDS Fund Name Bid PriceOffer Price Yield / T-Rtn Lotus Halal Equity Exchange Traded Fund 20.63 20.73 33.23% SIAML Pension ETF 40 85.00 85.00 -33.97% Stanbic IBTC ETF 30 Fund251.00 251.00 148.88% MERGROWTH ETF17.40 17.50 34.66% MERVALUE ETF16.40 16.50 49.90% REITS Fund Name NAV Per Share Yield / T-Rtn SFS REIT 119.40 4.92% Union Homes REIT 54.58 2.94% Nigeria Real Estate Investment Trust 101.72 UPDC REIT 10.08 -11.73%
Fund Name NAV Per Share Yield / T-Rtn Chapel Hill Denham Nigeria Infrastructure Debt Fund 108.39 0.00% info@anchoriaam.com MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund NameBid PriceOffer Price Yield / T-Rtn Afrinvest Equity Fund 253.77 254.92 34.11% Afrinvest Plutus Fund 100.00 100.00 5.97% Nigeria International Debt Fund 342.32 342.32 10.53% Afrinvest Dollar Fund 109.33 110.43 3.66% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund NameBid PriceOffer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 11.60% AIICO Balanced Fund 4.31 4.38 26.75% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund NameBid PriceOffer PriceYield / T-Rtn Anchoria Money Market 100.00 100.00 8.47% Anchoria Equity Fund 183.37 185.65 26.51% Anchoria Fixed Income Fund 1.35 1.35 9.25% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund NameBid PriceOffer Price Yield / T-Rtn ARM Aggressive Growth Fund 27.96 28.80 27.41% ARM Discovery Balanced Fund 617.72 636.34 18.51% ARM Ethical Fund 48.67 50.14 7.88% ARM Eurobond Fund ($) 1.14 1.14 1.67% ARM Fixed Income Fund 1.13 1.13 2.34% ARM Money Market Fund 1.00 1.00 6.88% ARM Short Term Bond Fund 1.03 1.03 -0.28% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund NameBid PriceOffer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 99.8999.899.96% AVA GAM Fixed Income Naira Fund 1,132.06 1,132.06 5.66% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund NameBid PriceOffer Price Yield / T-Rtn AXA Mansard Equity Income Fund 165.74 166.90 22.87% AXA Mansard Money Market Fund 1.00 1.00 8.60% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund NameBid PriceOffer Price Yield / T-Rtn CEAT Fixed Income Fund 2.22 2.22 -11.93% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.75 2.82 -56.52% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund NameBid PriceOffer PriceYield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.011.014.68% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund NameBid PriceOffer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 10.87% Paramount Equity Fund 23.3323.8335.48% Women's Investment Fund 182.17 185.36 22.02% CHD Nigeria Bond Fund 103.92 103.92 12.38% CHD Nigeria Dollar Income Fund 1.02 1.02 11.90% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund NameBid PriceOffer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.21% Cordros Milestone Fund 153.04 154.16 19.62% Cordros Fixed Income Fund 106.96 106.96 10.40% Cordros Halal Fixed Income Fund 104.17 104.17 5.80% Cordros Dollar Fund ($) 112.23 112.23 7.37% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund NameBid PriceOffer Price Yield / T-Rtn Coronation Money Market Fund 1.001.009.49% Coronation Balanced Fund 1.401.4223.49% Coronation Fixed Income Fund 1.421.424.36% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund NameBid PriceOffer 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 NameBid PriceOffer Price Yield / T-Rtn Emerging Africa Money Market Fund N/AN/AN/A Emerging Africa Bond Fund N/AN/AN/A Emerging Africa Balanced Diversity Fund N/AN/AN/A Emerging Africa Eurobond Fund N/AN/AN/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund NameBid PriceOffer Price Yield / T-Rtn FBN Bond Fund 1566.21566.211.76% FBN Balanced Fund 241.25 243.43 20.81% FBN Halal Fund 131.09 131.09 13.01% FBN Money Market Fund 100.00 100.00 10.05% FBN Dollar Fund 124.50 124.50 7.09% FBN Smart Beta Equity Fund 237.10 239.97 43.17% FBN Specialized Dollar Fund 109.87 109.87 9.42% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund NameBid PriceOffer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.45% Legacy Debt Fund 3.52 3.52 -1.54% Legacy Equity Fund 2.57 2.63 28.83% Legacy USD Bond Fund 1.30 1.30 3.06% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund NameBid PriceOffer Price Yield / T-Rtn Coral Balanced Fund 5,083.02 5,117.83 37.95% Coral Income Fund 3,868.38 3,868.38 7.68% Coral Money Market Fund 100.00 100.00 10.00% FSDH Dollar Fund 1.17 1.17 5.56%

www.thisdaylive.com

RAHMAN: RUGGED PRO GETS HIS DUE

Tunde Olusunle pays tribute to Tunde Rahman, media aide to the President

TO SERVE NIGERIA…?

Nowadays the retort as that line in our national pledge is recited is, “…IS NOT BY FORCE!” when the correct ending is, “…with all my strength.”

See page 21

PUMP PRICE OF FUEL GOES UP!

BONIFACE CHIZEA argues the need to stop importation of petrol in the shortest possible time

The problem and possibly the chief reason for the retort, is that our national pledge assumes that the person reciting it has the opportunity, motivation, and capability for service. The popular retort above suggests that this assumption is erroneous. There will always be ample opportunity to serve one’s country, whether that country is rich or poor. The motivation to serve is however moderated by internal and external factors while capability is determined by ability or means.

Flowing from the above, it is perhaps wise to ascertain the state of wellbeing or otherwise of a citizen before requiring them to serve their situation in life? Do they have the basic needs for survival? Are they in such a state that a call to serve will elicit positive and not negative reactions? How well do Nigerians fare when measured using the Human Development Index? Are they emigrating in droves, driven by the harsh economic climate at home? Answering these questions whether or not the motivation component of the clarion call to serve, has been met.

See page 21

EDITORIAL HALTING DIPHTHERIA OUTBREAK

Through the years, the causes to which patriotism is directed has evolved mostly because of expedience. Most of Africa’s borders were drawn in the late 19th and early 20th centuries by imperialists with no consideration for the aspirations of those whom they sought to govern by colonialisation. Since then though, some of these borders have been re-drawn. For instance, Nigeria as an entity did not exist 110 years ago. Some people who pledged allegiance to Sudan 11 years ago now do so to South countries towards which the fervor is directed.

The point I am making is that love for country can be fervent but its intensity is only as strong as the reality of its citizens. There is no permanence in that devotion, unless the objects of patriotism continue to attract same to themselves. This wavering patriotism is not a poor country problem. Far from it. Over 3,400 Americans renounced their

citizenship in 2022. In comparison, only 159 Nigerians renounced theirs within the same period. Of course, the absence of renunciation does not repudiate the presence of resignation. Renunciation can be counted because the process allows one to. Resignation may not be numerable but can be deduced.

The fact that many Nigerians have mentally and emotionally resigned from “the whole Nigeria thing” is not news; it requires no divination. It is why, “to serve Nigeria is not

enterprise, they are extremely rich while the people remain extremely poor. The wealth of our leaders and our people’s poverty are inversely proportional. The richer our leaders get, the poorer our people become. Who or what will buck this trend? This question is pertinent because the current situation is not sustainable. The widening chasm between the haves and have-nots does not bode well for peace and national cohesion.

by force” is a more likely retort than the solemn, “to serve Nigeria with all my strength”. This requires somber and deep introspection for us as a country.

To start with, we must be clear about the fact that ours remains a relatively young country. There are people alive today who can share their experiences of 1st October 1960. If our country was running for president, she would be considered relatively young, after all some candidates born around 1960 were described as “youthful” during campaigns in 2018 and 2022 in Nigeria. Nigeria’s age is one of the reasons our constitution is being tested in courts across the country and it is no surprise it is manifesting all the signposts of a forming system. In my opinion, everything that has been done since 1960 is foundational. That is, if Nigeria were a building, today, we would still be erecting its foundations. How well we are building that foundation is another matter entirely.

To build a foundation that can weather the ever-present storms, we must prioritise our people. This sounds cliché-y but the truth is that Nigerians have never been the priority of her leaders for most of post-independence; our leaders have been. It is why even though our leaders are not famous for honest

President John F. Kennedy famously told Americans not to ask what their country could do for them but to instead ask what they could do for their country. He could make that statement knowing that it would not cause an uprising or even derision because America was generally doing well for its people. Kennedy knew America was in a position to ask more of its people. Can we say the same of Nigeria? The answer is blowing in the wind. What I do know is that as a country, we need to put people those who ruefully ask, “What has Nigeria done for me?” because their heavily subsidised public education would have been impossible to obtain in the United States or in the United Kingdom, for example. Canada would not be actively courting Nigerian-trained professionals as education is a perquisite to even be considered by Canada. Most of those Nigerian to the Canadian government in exchange for their permanent residency were acquired via highly subsidised education. Mostly lower than $500/year for tuition, if not a lot less. That, Nigeria did for you. Take that away, what are you?

However, that Nigerians aren’t even conscious of the little their country has done for them is an indictment. Not on Nigerians, but on her leaders. This could be a result of the notion that our leaders get too much for too little output. If their output was great, Nigeria wouldn’t be in the desperate situation she every level, leaders are awarding jumbo remunerations and perks to themselves in an unbelievable display of insensitivity while those whom they lead wallow in poverty. To serve Nigeria? Hmmn.

Omojuwa is chief strategist, Alpha Reach and author, Digital Wealth Book

1 THISDAY FRIDAY July 21, 2023 Friday July 21, 2023 Vol 27. No 10117
opinion@thisdaylive.com
22 20
Nigerian leaders should learn to put the people first, argues JOSHUA J. OMOJUWA

TUNDE OLUSUNLE pays tribute to Tunde Rahman, media aide to the President

RAHMAN: RUGGED PRO GETS HIS DUE

Non-initiates marvel at the peculiarity of the rapprochement which subsists between opinions and even political disposition. My very good friend and brother Segun Ayobolu served as Media Adviser to Bola Tinubu now President, when the latter was governor of Lagos State. Within the period, I was engaged in the Olusegun Obasanjo/Atiku Abubakar government, handling various briefs. Even at the height of the antagonism between the Lagos State Government and the Federal Government following the stoppage of remittance to the accounts of the Lagos government by the Obasanjo/Atiku milieu, the relationship between Ayobolu and I remained nonplussed. As Babatunde Fashola succeeded Tinubu in Lagos, Hakeem Bello took over Ayobolu’s

of Business and Social Sciences. Rahman and I are equally knitted by the fact of bearing the (onetime features editor of *Daily Times* and later in *Tell* magazine), graduated from Unilorin in 1980. Yet another notable alumnus Ayeni who was then Nigeria Correspondent of the London-based *West Africa* magazine then owned by the Daily Times octopus. My classmate and brother, he is today professor of communications at the Eastern Connecticut State University, (ECSU), in the United of *THISDAY* newspapers, Eniola Bello, is equally part of the Unilorin/Daily Times project.

This piece is a celebration of Tunde Rahman, a very astute journalist who has paid his dues in the profession for more than three decades now. He has deservedly earned recognition at the highest levels of governance in the country having been named a senior aide to the President. It was important to lay the precedence above, however, to underline the specie of multilevel entanglements which develops and is sustained over time and space, beyond the perimeter of the newsroom. Yes, the security services revel in their *espirit de corps* in the course of their dealings. Professional amity, however, is probably stronger and deeper in the media. Journalists are probably the best exemplars of that section of Nigeria’s old national anthem: “Though tribe and tongue

The reality today in Nigeria is that pump price of fuel which was selling at 195 Naira per litre before the swearing of the President and the removal of subsidy payments has become a worrisome talking point. Following the announcement of the removal, the pump price went up to N530 per litre; an increase of over 200 per cent. But today under two months the price is now N617 in Abuja but higher in most other cities in the Federation. In fact I did see a headline that claimed that pump price in Ilorin, Kwara State is now N700! I have not bothered to corroborate this frightening announcement. Therefore these are interesting times to live in Nigeria considering the fact that increases in pump price of fuel have a holistic effect on prices across board in the economy and a terrible add on effect on inflationary spiral in the economy.

There is something that does not quite jell with the

potential for making positive impacts on the fortunes of the economy with quick results. There is of course the argument from some quarters that the refinery will not impact local pump price! That is the product of shallow thinking. Nigeria will supply crude for the refinery in Naira and the refinery will sell products to Nigeria also in Naira. Automatically the negative impact of exchange rates is out of the calculations. Other add on costs due to importation such as freight, insurance, demurrage will no longer apply. Even as we expect Dangote to sell to Nigeria at the going market rates in Naira, there is no way the pump price will not be drastically reduced. We must also encouraged the modular refineries to get serious with targeted incentives to commence operations. Though we have been assured that the maintenance of the Port Harcourt Refinery is almost completed, we remain convinced that there is no point allowing the local refineries to continue to constitute drain pipes on the treasury. We reached the firm conclusion that government does not have the capacity to keep refineries in operations profitably. Our well-considered recommendation will be to take them to the market for sale. But we must not continue to sit on our hands and just allow such low hanging fruits to go begging. We better get cracking on these recommendations.

earlier schedule. Bello and I have a very long relationship as this piece will yet unravel.

Monday July 10, 2023, Tinubu appointed Tunde Sarafadeen Rahman as Senior Special Assistant Ayobolu, Bello and Rahman like me are all alumni of the Daily Times of Nigeria Plc, during its glorious years. We shared the newsrooms in our various departments, Ayobolu and Rahman being on the political beat. Bello and I oscillated between the features and literary subunits of the erstwhile newspaper colossus. We split loaves of bread and packets of biscuits between ourselves while perspiring to meet production deadlines. We patronised the same bukaterias abutting our Agidingbi, Ikeja operational base. We congregated at proximate bars in revelry on days our pockets were enhanced by our “weekly transport claims” or when any in our broad network of friends and colleagues was paid his “travel allowance.” Such was the camaraderie we built between us.

Indeed, next time you hear call-and-response chants like “Wine on Wali,” “Turkey on Tukur,” “Fanta on Falae,” “Salad on Sarumi,” between Rahman and I or select alumnae from our generation, please ask questions. These are rhymes and rhythms spun out of our several social outings in our younger years as *Timesmen,* as graduates of *Daily Times* are referred to. Borrowing from the lexicon of media

and colleagues whose wallet was appropriately gate of the *Agidingbi,* Ikeja home of the *Daily Times* was our popular watering hole which we christened *White House,* after the exterior consisted of prescribed quantum of assorted beverages, escorted by processed aquatic protein served with spicy, simmering gravy. The aborted “Third Republic” dominated popular discourse those days and the names of key actors fuelled our poetic instincts. Rhymes and sounds so generated, elicited the chorus “O yes ooo” from the “audience.” Ayobolu, Emeka Nwosu, Gboyega Okegbenro, Lawal Ogienagbon, Yemisi Fadairo, Ohi Alegbe who will usually join us from his workplace, remember too well. This was the manner of bonding we shared those good old days.

Rahman, Bello and I have an additional point of intersection. We are all alumni of the University of Ilorin, (Unilorin)! I graduated in 1985, Rahman in 1987 and Bello in 1988.

Bello and I studied English and thus in the same faculty, not forgetting the various extracurricular interests we shared. Rahman studied political science and was in the Faculty

Tunde Rahman began his journey in media practice as a cub political correspondent with the Ikeja, Lagos-based *Lagos Horizon* newspaper the *Tehran Times International* as Nigerian correspondent, the following year. After garnering further experience in the profession, Rahman joined the *Daily Times of Nigeria* for a decade-long duration in 1991. Within the period, he served variously as political correspondent, before being elevated Deputy Political Editor in 1996 and deployed to Abuja. This was as the burgeoning federal capital territory settled gradually into its personality as the new hub of federal administration. He rose to become substantive Political Editor in 2000. The star-studded, pan-Nigerian political desk of the *Daily Times* in the 1990s, featured notable professionals like Ayobolu, Nwosu, Basil Obi and Bayo Oladipo, among others.

Arestless quester for new challenges, Rahman made a detour to *Punch* newspapers, one of Nigeria’s oldest surviving privately-owned Deputy News Editor of the publication for one year, before becoming Assistant Editor of the newspaper behemoth between 2001 and 2003. He was designated substantive Group News Editor of the *Punch* in 2003, a position from which he exercised oversight over every news item which featured in all the publications. This included the weekend editions in the newspaper stable. His schedule of duties devolved into human resource management and training of personnel in a rapidly evolving technology-driven media industry.

In 2004, Tunde Rahman undertook yet another decade-long odyssey in *THISDAY* newspapers, one of Nigeria’s most vibrant tabloids. The newspaper chain has survived the *abiku* syndrome symptomatic of many such initiatives over time in the country. He was promptly engaged as Deputy Editor, *THISDAY* in 2004 and was to be retained in the position until 2010 on account of demonstrated, painstaking on-the-job professionalism. For a brief stint between May and July 2010, he signed *THISDAY* in his capacity as Acting Editor. He was thereafter appointed Editor of THISDAY on Saturday from 2011 to 2012. For two years after this, Rahman was reassigned Editor, THISDAY on Sunday. He thus became one of very few professionals in the *THISDAY* behemoth whose imprimatur was on every major tabloid published by the organisation. Congratulations, brother!

Olusunle, PhD, poet, journalist, scholar and author, is a Member of the Nigerian Guild of Editors, (NGE)

game in town; we were told that subsidy has been removed and that the prices have been deregulated. But the announcement that NNPCL has increased pump price of fuel is not in sync with the prevalent scenario. If we now operate in a deregulated market, it is no longer NNPCL that is in charge and indeed something is wrong with NNPCL making the announcement in the first place. Simply, it should just be announced; if at all any announcements were required that pump price of fuel has gone up to N617. May be because we are in transition and would surely get there as matters crystalize.

And therefore the journey to a deregulated market, to say the obvious remains work in progress. It has been reported by the regulator mid-stream and downstream that 66 marketing companies have been licensed to go into importation of fuel but 10 companies have placed orders for delivery during the third quarter July/September, 2023. Three companies have received supplies. The goal is for NNPCL to stop importation leaving the marketers to take over. What is worrisome is that we have still retained the old mindset, procedures and processes while claiming to have deregulated. In a deregulated environment you will never see this level of quantum increase in one fell swoop. The rate of increase in pump price is alarming and could provoke protests which the country should better avoid. And this observation must be food for thought which should engage and arrest the attention of the authorities.

Labour unions have sounded belligerent as we anticipate their response. Labour has lamented that the government itself went to court to checkmate proposed industrial action but not respecting the status quo ante has gone ahead to increase the price of petroleum products. But the market does not respect such niceties and the note of caution we wish to sound here is that we must not continue to take public reactions for granted.

There is certainly a consensus in the land that the subsidy payments were not good and must be stopped. But the only problem is that we have not been sequential, deliberate and intentional as we did so. My preferred approach has always been that we should tackle this problem from its root cause. There will be no subsidy to pay if we stopped importation today. So, why not aim to stop importation in the shortest possible time. And this target is within reach with the Dangote Refinery inauguration waiting commencement of operations. We should have poured all efforts to ensure that this refinery came on stream in the shortest possible time. We just received confirmation from the company that the indicated July/August commencement for the first products of the Refinery to hit the market is still on course.

As far as we are concerned, we see Dangote Refinery coming on stream as a game changer, which has the

We have been informed that what is responsible for the recent hike in pump price is that the price of crude went up recently from 70 to 80 dollars a barrel. And you say to yourself what an irony? A country that is the eight producer of crude in the world has its citizens groaning because its price went up! That has been the dilemma of the Nigerian situation. There is also the explanation that pump price must reflect the reality of the market; please interpret to mean the falling rate of exchange!

We compounded the problem by also attempting to remove multiple rates of exchange rate in our market. Although a laudable long anticipated objective but what about the problem of sequencing? What we have now done is to pile up pressure on our citizens which runs contrary to what should be the focus of governance. The misery index in a country with 130 million out of 200 million designated as suffering from multi-dimensional poverty and 54% youth unemployment rate should be to work to bring some succour and not otherwise as it is currently the case.

Once again the root cause of the multiple exchange rates in the country is a combination of lack of productivity to earn badly needed foreign exchange and the consequences of macroeconomic instability which is anathema to attracting foreign investors. There are of course a number of imperatives we needed to address to make the Nigerian environment attractive; security issues, stability of policies, infrastructural bottlenecks, ease of doing business considerations; entry visa challenges, clearance experience at our points of entry, keeping inflation under control, etc. It is not realistic to expect all of these to be handled in one fell swoop. But we must get cracking.

As should be expected there are far reaching consequences most of which are unpalatable. I don’t know how many of us appreciate fully the consequences of an inflation rate that is close to 23%! For a very long time the authorities have targeted and worried on attaining single digit inflation rate. But for now, we must admit that we have lost that battle. No doubt we have all felt the quick and sudden increases in the price of good and services which have negatively impacted the misery index in the land. I have not seen anything like the current galloping rate of price increases in the economy before!

It has just been reported that the Federal Accounts Allocation Committee will share a whopping amount among the tiers of government at the end of July, 2023 which stands at N1.9 trillion, which is over three times the amount of N 786.161 billion which was shared in June. And also over three times the N 655.93 billion that was shared in May. Although the actual value of this humongous amount has been eroded by the inflationary spiral, those at the helm must he held accountable. There must now be no reasons for non-prompt payments of salaries and pensions for instance.

Dr. Chizea is CEO, BIC Consultancy Services, Lagos

3 THISDAY FRIDAY July 21, 2023 21
PUMP PRICE OF FUEL GOES UP!
BONIFACE CHIZEA argues the need to stop importation of petrol in the shortest possible time

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

EDITORIAL

HALTING DIPHTHERIA OUTBREAK

Health authorities could do more to contain the disease

Earlier this month, the Nigeria Centre for Disease Control (NCDC) confirmed the outbreak of diphtheria in Abuja after the death of a four-year-old patient. This represents the second outbreak of the disease in the country this year after the federal government had confirmed some cases in January. So far, about 80 lives have been lost to the disease while almost 800 persons have been confirmed infected. Unfortunately, this is another public health emergency that is preventable. And it is a shame that Nigerians are burdened with it, especially at this period.

Diphtheria is a serious and highly contagious bacterial infection previously known to be endemic only in the Caribbean and Spanish countries. It affects the throat and nose and can lead to difficulty in breathing, heart rhythm problems, lungs, kidney issues, and ultimately death. Like many other African countries that do not take pre-emptive measures against looming diseases, Nigeria’s poor vaccination for Diphtheria, Pertussis and Tetanus (DPT) has become the finger-bed for the incessant outbreaks of the disease in the country since 2011.

A renowned epidemiologist and Professor of Virology, Oyewale Tomori said recently that only 60 per cent of Nigerians have so far been vaccinated against diphtheria, going by official figures. But he also added that many of those registered to have been vaccinated could be only on paper. Conservatively, according to Tomori, the number of unvaccinated people in our country could be as high as 87 million. Unfortunately, most of the victims of this disease are children below five years whose immunity are unable to withstand the associated illnesses for diphtheria.

The chief factors for the diphtheria challenge are low vaccine coverage, insufficient storage and transportation, inadequate disease and laboratory surveillance. Poor response system, and the citizens’ low awareness on vaccination against diphtheria

EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

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

Letters to the Editor

are other factors putting the entire country at risk. The greater danger is that health authorities in Nigeria are not doing enough to tackle the problem. Yet, evidence has shown that the disease has the potential to snowball into a widespread outbreak with the capacity to kill hundreds of thousands of people and belabour the fragile health system just like was the case with COVID-19.

To halt the current spread of the disease and prevent future outbreaks in the country, government at all levels must take some coordinated urgent steps, including mass vaccination of Nigerians. Relevant authorities must also prioritise treatment for infected persons, as well as set up mass awareness programmes on the need for Nigerians to embrace the vaccines and immunisation process. Infected persons should be hospitalised as against the current situation in which most persons are given medications while they remain in their homes. Health facilities, especially primary health centres, should be equipped enough to manage cases where secondary and tertiary health facilities are not available. Contact tracing should urgently commence while affected persons should be isolated, travel advisory should be publicised especially against states with high infection, among other solutions.

To prevent future outbreaks of the disease, there must be collaboration between education and health authorities to ensure that vaccination against DPT becomes requirement for primary and school admissions or for continuous learning. They should also borrow a leaf from many countries free from diphtheria that require people already vaccinated against the disease to take booster shots after being vaccinated for a considerable number of years.

As late in the day as it may seem, government at all levels should isolate infected persons and commence mass vaccination. Diphtheria outbreak is a threat to Nigeria’s health security. Everything should be done to avert it.

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

NATIONAL ASSEMBLY AND COST OF GOVERNANCE

It appears that Nigeria’s 10th National Assembly is content to continue with a tradition of ostentation while comfortable to cling on to its reputation for insensitivity.

The 10th National Assembly has penciled down N110bn for the purchase of bulletproof vehicles for Nigeria’s legislators and as palliatives. The amount has hit Nigerians like a thunderclap at a time when they are reeling from the effects of the policies of a new government whose head many believe was the product of tainted elections.

But while Nigerians smart from the removal of the fuel subsidy in addition to the difficult economic conditions brought on by the eight-year-long incompetence of former president Muhammadu Buhari, it appears that those elected to represent them have other ideas.

The morning tells the day. That exotic cars top the list of priorities for the legislators rather than urgent policy-shaping legislations to bring respite to long-suffering Nigerians is an ominous sign that Nigerians are in for another long ride with avaricious do-nothing politicians.

Since Nigeria returned to the pristine path of democracy in 1999, debate over the cost of governance in the country have been heated.

The question of how much people make from supposedly serving Nigerians has always generated forceful feelings in a country that freely admits that corruption is one of its

greatest challenges.

In these debates, harsh scrutiny has always fallen on the National Assembly, the second arm of government, with many Nigerians balking at what its members take home for seemingly doing so little.

While over a hundred million Nigerians wallow in poverty, the NationalAssembly has never had any compunction about legislating large welfare packages for its members.

The response of the legislators has been historically poor when confronted with accusations that what they take home belies the tragic poverty that torments many Nigerians. The simplest but most shocking response has been to say that the members of the executive take more.

There is hardly ever a reference to the judiciary in these conversations because as an arm of government, it remains shamefully underfunded.

President Bola Ahmed Tinubu approved the sum of N70bn to the legislators as palliatives for the removal of the fuel subsidy. It was clearly a sop to the legislators whom the president needs on his side, in a cordiality many would interpret as a conspiracy against the Nigerian people.

In response to the decision by legislators to buy bulletproof vehicles, the Socio-Economic Rights and accountability group (SERAP) has asked the lawmakers to shelve their extravagant plans or face court action.

But, if the worst critics of the plan can take a deep breath and look deeper, they would see that hidden behind the determination of the lawmakers to buy themselves bullet-proof vehicles is a morbid fear of the insecurity which sweeps Nigeria like the gale of death.

For eight years under Muhammadu Buhari, while terrorists had a field day turning Nigeria’s most vulnerable communities upside down, the members of the ninth National Assembly were content to hide in Abuja and say very little.

Many of the legislators simply stopped travelling to their constituencies. In fact, some legislators even ignored the pain of their people to lick the toes of the Buhari administration. Apart from approving dubious loans, there were other inexplicable actions like in 2021 when the House of Representatives mandated its Committee on Youth Development to investigate the alleged refusal of the NYSC to reopen its orientation camp in Borno State which was shut down years ago due to insecurity. The reason was that peace had supposedly returned to Borno State.

For those who fought through thick and thin to be elected into the National Assembly, the entire talk about remuneration and perks may just be bollocks. But at a time of heightened national sensitivity as a re-

sult of poverty and insecurity, these billions which are poised to serve nothing but avarice batter Nigerians with the force of a bludgeon.

The fact that the legislators are yet to get down to business and work their socks off to improve the lot of Nigerians makes the money even more unjustifiable.

The easy and lazy argument Is that the legislators need the vehicles and palliatives to properly carry out their jobs, but it will not be the first time. Nigerians have heard it many times over. Nigerians have also let many of those slide previously, only to see nothing.

It is an open secret that the National Assembly has become a little more than a retirement home for many expired and exhausted politicians who only go to the hallowed chambers to doze and drain the public till.

In many ways, Nigerians contribute to the corruption which has chewed their country to a pulp. Their easy attitude towards the perks of public office in the country has helped entrench corruption in the country. But there should be accountability in governance and maybe, this time around, Nigerians can take a collective stand.

4 THISDAY FRIDAY July 21 2023
T H I S D AY EDITOR SHAKA MOMODU DEPUTY
Most of the victims of the disease are children below five years whose immunity are unable to withstand the associated illnesses for diphtheria
22

RATES AS AT JULY 20,2023

Desperate Oil Marketers Flood Aviation Industry with Off Spec Jet Fuel, Crash Prices

Chinedu Eze

Some oil marketers have saturated the aviation industry with low quality jet fuel that crashed prices from N800 per litre to N600 per litre, a development that compromised on air safety, THISDAY has learnt.

It was learnt that some of the oil marketers sourced the product from modular refineries and illegal facilities and sold DPK (kerosine) as Jet A1, known as aviation fuel, to some airlines, which has led to aircraft engine damage.

Last week, Max Air aircraft was seen with a lot of water coming

out of its Boeing B737-300 aircraft tank and recently, Arik Air aircraft, Boeing B737-800 was grounded for over a month at the Abuja airport because of contaminated fuel.

Industry experts said more aircraft with engine problem would still surface because contaminated fuel may not immediately harm the engine but will gradually destroy the pumps, nozzles, filters, lines and other equipment in the aircraft engine, “and this will be dangerous for air safety.”

The Managing Director of Cleanserve Energy Limited, one of the oil marketing companies

that serve products to the airlines, Mr. Chris Ndulue, confirmed to THISDAY that some oil marketing companies are selling contaminated and low quality products that do not meet standard specifications.

He blamed the industry for keeping quiet about the bad jet fuel being sold by some marketing companies, insisting that if an airline buys fuel from any marketing company, it should be able to trace the purchase to that company instead of putting the blame on all marketers.

“People are taking adulterated fuel. There is price war going on. You cannot count the number of

marketers that sell product in the ramp but there are few marketers that have storage and other facilities. Now, anybody that gets a bowser begins to sell DPK to airlines, once he secures permit from the Federal Airports Authority of Nigeria (FAAN). People are taking kerosine from local refineries and selling as Jet A1 and it is damaging the engine of aircraft.

“We are lucky the aircraft whose engine got damaged as a result of contaminated fuel, happened on the ground. Imagine that it happened when the aircraft is in the air. That would have been very dangerous.

Airlines are just interested in the cost of the product. I don’t have the mindset of a marketer. I can’t imagine giving an airline adulterated fuel that will endanger the lives of 120 passengers,” Ndulue who is the former Managing Director of Arik Air, said.

He called on the regulator, the Nigeria Civil Aviation Authority (NCAA) to improve on its oversight function, reiterating that few marketers have facilities for product storage at the airport, which include Joint Users Hydrant Installation (JUHI), Sahara Energy, CleanServe and one or two others.

“No modular refinery is producing Jet A1. What they are producing is Dual Purpose Kerosine (DPK). It is not ATK (Aviation fuel). They move them from Niger Delta through the sea to Apapa. We are lucky nothing has happened besides engine damage of the aircraft. It is left for the regulatory agency to investigate these. Nobody should cover up all these. The company that sold contaminated fuel should be held responsible,” Ndulue further said.

Adeniyi: Lekki Port a Catalyst for Nigeria’s Economic Prosperity

Gilbert Ekugbe

The Acting Comptroller General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has described the Lekki port as a catalyst and a game-changer that would contribute to Nigeria’s economic prosperity. He stated this during his first official visit to the port in Ibeju Lekki, explaining that the port serves as a massive source of revenue for the government, given its capacity to handle large vessels.

Adeniyi also reaffirmed its support towards the seamless operations of

the Lekki Deep Sea Port as a key contributor to the national economy.

The NCS boss explained that the NCS will provide all necessary support to Lekki Port to facilitate and boost trade in Nigeria in line with the mandate of the Nigeria Customs Service.

“We are coming with a shared understanding of what the Nigerian economy needs. We don’t need to look further than the investment we see here. We want to generate foreign exchange. We want foreign investment to come to Nigeria so that jobs can be created for our people

and we can raise revenue. What we are seeing holds the promise and potential to achieve those objectives. As an agency of government, we will continue to be a partner with a shared vision. When we work together on major policy decisions, we will overcome any major issue that may arise,” he said.

In his remarks, the Managing Director of Lekki Port, Du Ruogang, thanked the new Acting Comptroller General for honoring the port’s invitation to pay a visit so early in his term as acting CG.

“On behalf of the port promoters,

China Harbour and Tolaram, we congratulate you on your appointment, and we wish you great success in your work as CG of Customs. Lekki Port is eager to cooperate with you to leverage technology and automation for more efficient customs operations,” he said.

Ruogang stated that Lekki Port had all the modern equipment and the features of a global port available in China, Singapore, Malaysia and Tangier.

He added that the cooperation of the Customs is crucial to the port’s success as a very smooth and efficient

customs operation is key to attracting customers to the port.

Also, speaking during the visit, the Chief Executive Officer of the container terminal operator, Lekki Freeport Terminal, Mr Yann Magarian disclosed that with the commencement of commercial operations at Lekki Freeport Terminal, Nigeria’s position as the maritime hub of West Africa has been restored.

“In the few months of operations, we have achieved significant milestones at the Lekki Freeport terminal. These include increased productivity at Nigerian Ports using

MARKET DATA AS AT WEDNESDAY, JULY 20, 2023

our state-of-the-art super postPanamax cranes. This has allowed us to reduce operational hours on vessels while at berth; commissioning two of the fastest scanning machines in the country, which allows the scanning of containers in less than 1 minute and the commencement of transhipment services in Nigeria. This is the first of its kind. We are progressively returning container trade lost to neighbouring West African ports”, he said.

BONDS DESCRIPTIONPriceYield Change (%) Updated Time ^13.53 23MAR-2025 106.129.51 0.12 July 14, 2023 ^12.50 22JAN-2026 103.3210.95 0.36 July 14, 2023 ^16.2884 17-MAR-27 112.91 11.84 0.00 July 14, 2023 ^13.98 23FEB-2028 105.04 12.50 0.00 July 14, 2023 ^14.55 26APR-2029 109.77 12.14 0.00 July 14, 2023
BILLS MATURITYDiscountYield Change (%)Updated Time NTB 24-Aug23 6.03 6.07 0.00 July 14, 2023 NTB 7-Sep23 6.03 6.08 0.00 July 14, 2023 NTB 26-Oct23 5.09 5.16 -0.01 July 14, 2023 NTB 9-Nov23 5.275.36 0.00 July 14, 2023 NTB 7-Dec23 5.64 5.77 0.00 July 14, 2023 OTC FX FUTURES CONTRACT TENOR (MONTH) Contract Current Rate ($/₦) Updated Time 1 NGUS JUL 31 2024 892.95 July 14, 2023 2 NGUS AUG 28 2024 905.96 July 14, 2023 3 NGUS SEP 25 2024 916.80 July 14, 2023 4 NGUS OCT 30 2024 927.64 July 14, 2023 5 NGUS NOV 27 2024 938.48 July 14, 2023 CPS MATURITYDiscountYield Change (%)Updated Time JULI CP II 25OCT-23 17.77 18.70 0.00 July 14, 2023 ZEDC CP I 17-NOV-23 15.4416.30 -0.01 July 14, 2023 NSDL CP IIA 22-NOV-23 19.4920.95 -0.01 July 14, 2023 MTNN CP V 23-NOV-23 12.1712.73 0.00 July 14, 2023 NSDL CP IIB 23-NOV-23 19.4720.94 0.00 July 14, 2023
MONEY MARKETREPOS & P INDEX S & P INDEXEXCHANGE RATE OPR 11.25% CALL 19.12% INDEX LEVEL 611.31% 1/4 TO DATE -0.07% N795.28/ 1 US DOLLAR* OVERNIGHT 11.50% 1-MONTH 16.25% 1-DAY 0.03% YEAR TO DATE 0.48%*AS AT MONDAY, JULY 17, 2023 3-MONTH 15.75% MONTH-TO-DATE -0.7%
BUSINESS WORLD Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com 08056356325 23
The story continues online on www.thisdaylive.com THISDAY FRIDAY, JULY 21, 2023 The story continues online on www.thisdaylive.com

OCEL: Driving Sustainable Mass Transit in Lagos

Nigeria’s aim of tackling emissions and achieving a climate-friendly environment and sustainable future has been bolstered by the pioneering efforts of Oando Clean Energy Limited. With a vision to transform mass transport systems, OCEL has released a comprehensive white paper outlining its outline business case for electric mass transit buses in Lagos, Nigeria. This comes after the live launch of a proof of concept programme, announced in May this year, One month into the programme, Oando said its EV buses have now transported 25,085 passengers and travelled a total of 11,715km. Peter Uzoho examines the key findings and recommendations of the white paper, highlighting the potential of OCEL’s initiative to reshape urban mobility in Lagos and contribute to a greener, more sustainable city.

Recently, Oando Clean Energy Limited (OCEL), a subsidiary of Oando Plc, embarked on a mission to broaden its scope of business through the creation of OCEL, mandated to design and develop climate-friendly and bankable energy projects. Collaborating with the Lagos Metropolitan Area Transport Authority (LAMATA), OCEL aims to revolutionize the mass transport system in Lagos State through the introduction of electric-powered buses that are environmentally friendly.

In partnership with LAMATA and Yutong Bus Co Limited, OCEL embarked on a proofof-concept phase of its electric mass transit buses project in Lagos. This initiative marks a significant step forward in the transition to sustainable transportation and aligns with Lagos State’s commitment to reducing greenhouse gas effects and embracing clean energy solutions.

ENVIRONMENTAL BENEFITS AND SUSTAINABILITY

The white paper underscores the urgency of addressing climate change and its impacts, highlighting the environmental benefits of electric mass transit. By transitioning from traditional combustion engines to electric buses, Lagos can significantly reduce greenhouse gas emissions, improving air quality and reducing pollutionrelated health risks for its residents. Additionally, electric buses have the potential to curb noise pollution, creating a quieter and more pleasant urban environment.

Beyond emissions reduction, the white paper emphasizes the conservation of natural resources through reduced reliance on fossil fuels. By embracing electric buses, Lagos can lead the way in sustainable transportation, setting an example for other cities in Nigeria and beyond. The adoption of electric mass transit aligns with global trends towards sustainability and climate action, reinforcing Lagos’ commitment to a greener future.

COST SAVINGS AND JOB CREATION

While electric buses may have higher upfront costs compared to traditional diesel buses, the white paper highlights the long-term cost savings they offer. Electric buses have lower operating and maintenance costs over their lifetime, offsetting the initial investment. OCEL’s white paper estimates significant economic cost savings, with a projected $2.6 billion cost saving vis-à-vis losses directly and indirectly related to air pollution. Moreover, in the long run the initiative, if adopted as part of the State’s mass transit plan, is expected to create job opportunities for at least 3,000 new drivers and 2,000 workers in bus maintenance and depot management sub-category, contributing to local employment and economic growth.

CHARGING INFRASTRUCTURE AND TECHNICAL INNOVATION

A critical aspect of the white paper is the provision for charging infrastructure. OCEL recognizes that the success of electric mass transit buses relies on a robust charging network. The white paper outlines plans to establish charging stations throughout Lagos, including the integration of solar power solutions to ensure uninterrupted operation even during power outages. By harnessing abundant sunlight, charging stations can continue to function, supporting the efficient operation of electric buses and reducing reliance on the grid.

BATTERY TECHNOLOGY: POWERING THE ELECTRIC MASS TRANSIT

Central to Oando Clean Energy Limited’s white paper is the advanced battery technology that drives the electric mass transit buses. The chosen battery technology, Lithium Iron Phosphate (LiFePO4), offers exceptional performance, reliability, and safety features, ensuring the efficiency and sustainability of the electric bus fleet.

The LiFePO4 batteries employed in OCEL’s buses are designed to deliver optimal performance and longevity. With an impressive lifespan of up to 4,000

charge cycles, these batteries offer a long-term and cost-effective solution. Rigorous safety measures, including a nitrogen protection system, thermal retardant material, and fireproof enclosures, ensure the utmost safety during operation.

The batteries exhibit an energy density of 150-160 Wh/kg and have a minimal selfdischarge rate of only 1-2% per month. This low self-discharge rate ensures that energy is not wasted during idle periods, maximizing the utilization of stored energy. With capacities ranging from 350-422 kWh, the batteries enable the buses to cover significant distances on a single charge, meeting the demands of urban mass transit operations.

Charging the batteries is a streamlined process, taking approximately 4-5 hours. This efficient charging time allows for quick turnaround at the charging stations, minimizing downtime for the buses and ensuring their availability for passenger service.

Furthermore, the LiFePO4 batteries are

designed to withstand extreme temperatures, operating within a voltage range of 450 V and enduring temperatures ranging from -30°C to 55°C. This resilience ensures reliable performance in diverse weather conditions, crucial for the demanding urban environment of Lagos. With a power density of 1.2-1.3 kW/kg and a charging efficiency of 90-95%, the batteries contribute to the overall performance and reliability of the electric buses.

OCEL’s choice of advanced battery technology showcases their commitment to using state-of-the-art solutions in the pursuit of sustainable mass transit. By leveraging these cutting-edge batteries, OCEL’s electric buses deliver reliable performance, extended range, and reduced environmental impact.

CONCLUSION AND FUTURE OUTLOOK

Oando Clean Energy Limited’s white paper presents a compelling case for sustainable

mass transit in Lagos. By embracing electric mass transit buses, Lagos can significantly reduce emissions, improve air quality, and create a more sustainable transportation system. The initiative holds the promise of cost savings, job creation, and economic growth, aligning with global sustainability goals and showcasing the potential of public-private partnerships in driving impactful change.

As the proof-of-concept phase unfolds, OCEL, in collaboration with its partners, will gather valuable data and insights to further refine the business case for electric mass transit. The success of this initiative in Lagos has the potential to be replicated in other Nigerian cities and serve as a blueprint for sustainable urban mobility across Africa. Oando Clean Energy Limited’s vision and commitment to a cleaner and greener Lagos demonstrate the transformative power of innovative solutions and underscore the importance of transitioning to a more sustainable future.

24 BUSINESSWORLD OIL&GAS FRIDAY, JULY 21, 2023 THISDAY
Inspection of the EV Bus Charging Point

Of Contaminated Fuel and Threat to Air Safety

Watching the Max Air aircraft, Boeing B737-300 with registration mark, 5N-MHM, being discharged of water from its fuel tanks was really horrifying, as petrified potential air travellers continue to share the video on social media.

However, aviators are not alarmed like those who are not conversant with airline operation, even though they are also are awake to the dangers of having water in aircraft fuel tanks.

As at press time, the Nigeria Civil Aviation Authority (NCAA) was yet to explain what actually happened that so much volume of water was found in an aircraft that was operating before the regulatory authority grounded the fleet.

What is mysterious about the incident was that Max Air sourced fuel from the same marketing company for its two aircraft, but while the Boeing B737-300 had water in its tanks, the second Boeing B737-400 with registration mark, 5N-MBD was not found with water in its tanks. Also, no other aircraft operated by any other domestic airline was also found with water in its tanks. This fact makes the matter more complex because it would have been easy to conclude that the water came from the oil marketing companies the product was sourced from but so far, no report has indicated that other airlines have reported similar incident.

However, NCAA strongly suspects the oil marketing companies.

In a zoom press conference with aviation journalists, the Director General of NCAA, Captain Musa Nuhu, made it clear that the agency was investigating three oil marketing companies that the airline sourced aviation fuel from.

INVESTIGATION

Nuhu, last week, told aviation correspondent that the authority dispatched its inspectors to Kano to audit Max Air operations. He said

Azman Air’s two Boeing B737 aircraft were grounded because one had water in its tank, while the other had technical problems and they would only be allowed to go back to service if they were found airworthy after the audit.

The Director General also said NCAA would close any aviation fuel marketing company that sells contaminated fuel to airlines, stating that the regulatory body is already investigating the airlines that bought fuel from the companies that sold contaminated fuel to Azman Air.

Explaining further on why Azman Air aircraft were grounded, Captain Nuhu said investigation already carried out disclosed that the aircraft in question took fuel from three oil marketing companies in Kano, Abuja and Lagos and NCAA was investigating

where the water came from and tracing the source of the bowser to pumps and storage facilities.

“When we found out, we are going to suspend the marketing company. We will collaborate with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure it does not happen again. We want to make sure that the marketers meet our regulation to supply their products to the airlines,” Nuhu said.

According to him, it is the responsibility of flight crew to inspect the fuel that is taken by the aircraft to make sure that it is not contaminated, so the flight crew and airline are held responsible if such case arises.

“We are going to issue a notice to ensure

that flight crew always inspect fueling of aircraft and if after investigating we found out that Max Air was responsible, we will take appropriate action. NCAA inspects the facilities of the oil marketing companies but we don’t have the staff that will go to every airline to inspect their fueling. Do you know how many aircraft that are fueled every day in Lagos?” he said.

RECURRING INCIDENT

This was not the first time an aircraft operated by Nigerian airline contained water in its fuel tanks. About two years ago, Aero Contractors aircraft refueled in Port Harcourt on its way to Lagos and Arik Air aircraft refueled from the same marketing company. THISDAY gathered that on impulse, the pilot of the Aero Contractors flight decided to check the tanks and found out that the fuel was contaminated with water.

“That was at the point the airline was to call for boarding. The Aero Contractor’s pilot signaled the Arik Air pilot to abort his planned flight and check the aircraft tanks, disclosing to him what they found. The two aircraft had water in their tanks as well as aviation fuel,” an insider recalled to THISDAY.

Also, THISDAY learnt that the oil marketing company was sanctioned after investigation was carried out and since then there was no such incident reported until recently.

THREATS

THISDAY gathered that contaminated fuel could cause significant damage to the aircraft engine and such damage could range from fuel system corrosion, clogging of fuel filtration components, failure of aircraft fuel system instrumentation, and even stopping the fuel supply to the engine during flight.

The story continues online on www.thisdaylive.com

25 THISDAY FRIDAY, JULY 21, 2023 BUSINESSWORLD AVIATION
Contaminated fuel in the aviation sector may become a major threat to air safety in Nigeria, if stringent measures are not taken by the concerned regulators, writes Chinedu Eze

SON to Certify Farm Produce for Export to Boost Acceptance

The Federal Airports Authority of Nigeria (FAAN) is collaborating with the Standard Organisation of Nigeria (SON) to establish office at its cargo village, where it will certify farm produce and other products that are ready for export from Nigeria.

With such certification, the farm produce will be accepted by destination countries. The essence is to enhance the volume of goods exported, as more countries will develop confidence in produce from Nigeria.

This was brought to the fore on Tuesday when members of the Aviacargo Committee, established by FAAN, was led to SON headquarters in Lagos by the agency’s Managing Director, Mr. Kabir Mohammed, for a facility tour of the organisation.

The Standards Organization of Nigeria is a government agency responsible for setting and enforcing standards for products and services in Nigeria. The organisation was created to promote and ensure quality in Nigerian products and services, thereby protecting the health and safety of Nigerian consumers. SON is a parastatal organisation under the Nigerian Federal Ministry of Industry, Trade, and Investment, and it operates in all 36 states of Nigeria.

With operating office at the cargo village of the Murtala Muhammed International Airport, Lagos, exporters of perishable goods will find it easier to subject their exports to scrutiny and ensure they are certified before export, so that they will not be rejected at the destination country.

The visit threw more light on the critical functions of the agency and the role it plays in regulating products and services in Nigeria.

Its responsibilities include overseeing the activities of manufacturers, certification of products, consumer protection, standardization of manufacturing practices in Nigeria, assisting the government in good policymaking, acting as an interface between Nigeria and the world and promoting safe practices in trade and manufacturing.

Speaking on the importance of SON in boosting Nigeria’s exports, the Coordinator of the Aviacargo committee, Ikechi Uko, said Nigeria has good products with necessary regulatory and certification agencies but lacked good branding and promotion.

He said Nigerian government invested in SON but its presence is not being felt in Nigeria.

“We need to propagate the activities and credibility of SON. Nigeria has the products but the branding is poor, there are markets that are just waiting for these products, we only need to identify them while Memorandum of Understanding (MoU) with other countries will go a long way in promoting our goods and services,” he said.

Uko said that Nigeria is number one producer of most goods in Africa, but these goods are being rejected because they don’t meet the certification of many destination countries and Nigeria cannot grow its export with rejection of its produce.

“For us to grow our cargo we have to involve the labs. Our produce must

be tested here (in the SON facility). Labs can help solve the problem. Our desire is to make labs intrinsic part of our team. We decided to go to labs to that there are labs that can do this,” he said.

The Coordinator of Aviacargo Committee also said that standard of products and services was set by SON, and that the agency needed to be put it in the limelight so that it will have credibility and acceptance both at home and abroad because of the critical role it plays in standardisation of products in Nigeria.

In a speech, the Director of Laboratory Services of SON, Mr. Richard Adewunmi, said the partnership with FAAN was important because the certification of Nigerian products remained very important because of the need to put the country’s goods on the global market.

According to him, “SON is internationally accredited, for instance, there’s a standard required for training and it’s the same globally but “we need more partnership with other countries to enhance our certified products.”

Also speaking, the Director of Training Services, SON, Timothy Abner, said tests were conducted at minimal cost at the agency, adding that the primary duty is to first protect Nigerians before profit.

“We have enjoyed the support of government, its doggedness has brought us this far. The laboratories are accredited and accepted globally, they are accredited by the Americans” he said.

Explaining the difference between registration and certification, Adewunmi said there was no conflict between NADAC and SON, adding that registration is quite different from certification.

“This is to let Nigerians know that registration is different from certification. NAFDAC provides registration, while SON gives certification. The only challenge we have is educating people on the activities of these agencies. Farmers, exporters and others need to know this, they need to also know about the process their produce need to pass through to avoid rejection in the country of destination. For instance, there are different packages for different markets. Once people are armed with information, there will be no conflict,” he said.

Managing Director, Federal Airports Authority of Nigeria (FAAN), Kabir Mohammed, while responding to the issue of adulterated aviation fuel, said SON remained the only agency that has the expertise to test and certify Jet A1 and other petroleum products.

He said though the Department of Petroleum Resources (DPR) remained the regulatory agency charged with the duty of supervising the petroleum industry operation and processing industry applications for leases, experts at SON have the requisite training for regulations of jet fuel.

Mohammed, who was once a senior staff of SON said: “We told authorities that officials of SON needed to be at the point of the process of testing aviation fuel but they were kicked out. The DPR may not have the necessary expertise, because those who have the expertise have been kicked out. We had meetings with DPR but they blocked SON out of the regulations of Jet fuel.”

26 AIR WATCH BUSINESSWORLD AIR WATCH FRIDAY, JULY 21, 2023 THISDAY
This Weekend FRIDAY, JULY 21, 2023 WEEKLY MAGAZINE Group Features Editor: CHIEMELIE EZEOBI chiemelie.ezeobi@thisdaylive.com 07010510430 F RIDAY, JU LY 21 , 2 02 3 WEEKLY SEYI OSHEWA-OYEDEJI: Empowering Lives through Personal Transformation, Support for Widows, Widowers and Single Parents

Tell us more about yourself and the work you do at Seyi Oyedeji Coaching & Consulting.

realise their full potential. Can you tell us more about this model and its impact?

Could you highlight some of the initiatives implemented by Restored by Grace to fulfil its mission?

Seyi Oyedeji Coaching & Consulting, I am dedicated to guiding individuals on their personal transformation journeys. I offer various services such as coaching, training, and mentoring, all aimed at helping people overcome grief, discover their purpose, and tap into their full potential. Through my work, I strive to empower individuals to rise above societal labels and embrace their true identities.

Your virtual Talk Show, “Finding Purpose in your pain with Seyi,” has gained significant attention. Tell us more about the show and its purpose.

Absolutely. “Finding Purpose in your pain with Seyi” is a bi-weekly program aired on my social media platforms. The show addresses topics such as grief, loss, heartbreak, and self-discovery. It aims to provide valuable insights and guidance to viewers, helping them navigate through their pain and find purpose. The goal is to inspire and empower individuals by sharing real stories of healing and personal growth.

You are the BEMORE campaign’s creator and convener of the BEMORE’s than your LABEL movement. Could you tell us more about these initiatives?

The BEMORE campaign is a powerful movement I started to inspire individuals to rise above societal labels and embrace their true identity. It encourages people to recognise their unique gifts and talents, allowing them to unleash their full potential without limitations. The BEMORE than Your LABEL movement is an extension of this campaign, where we emphasise the importance of transcending labels and finding purpose beyond societal expectations.

Your Personal Transformation Legacy model, known as BEMORE, has helped numerous individuals

The BEMORE model is a specialised Personal Transformation Legacy programme that spans seven weeks. It enables individuals to discover their hidden superpowers and unlock their full potential without guilt. Through this programme, participants explore their multi-dimensional possibilities, leading to both personal and professional growth. The impact has been profound, with individuals uncovering their true selves and embracing a life of purpose. Another notable program you offer is the “Grief to Greatness” course. Could you share more details about this course and how it helps individuals dealing with grief?

Certainly. The “Grief to Greatness” program is a fourweek online course designed to support individuals in moving from a place of grief to a position of wholeness. Through the G2G (Grief to Greatness) Transformational framework, participants gain practical and personalized tools to navigate their grief journey. The course

Restored by Grace (RGB) is a remarkable Christian charity organisation you founded in 2017. What is its mission?

Restored by Grace (RGB) was established to provide solace and inspiration to those facing the challenges of widowhood, single parenthood, and separation. Our core mission is to help widows, widowers, and single parents regain their confidence and strive for stability, creating a brighter future for themse lves and their dependents. We aim to be the leading Christian charitable organization in providing comprehensive support to young widows, widowers, and single parents.

We have several initiatives in place to fulfil our mission. One of them is the annual RGB Concert, held in Milton Keynes, U.K. This concert brings people from various backgrounds and ages together to worship the Lord Jesus and raise awareness about the challenges faced by widows, widowers, and single parents. Renowned Christian artists minister through music, creating an atmosphere of hope and encouragement.

The “IYWWS” community outreach programme sounds impactful. Can you elaborate on its purpose and how it supports young widows, widowers, and single parents?

“IYWWS” stands for “Inspiring young widows, widows, and Single Parents.” It is a community outreach programme aimed at providing support and inspiration to individuals aged up to 55 during their most difficult times. Through counselling, training workshops, financial guidance, and career advice, IYWWS helps young widows, widowers, and single parents rebuild their lives, regain independence, and fulfil their true potential. We also collaborate with other organisations, charities, and local authorities to maximize our impact within the community.

The RGB Community Outreach project seems to play a vital role in supporting young widows, widowers, and single parents. Tell us more about the services it offers.

The RGB Community Outreach project is designed to provide free support services to young widows, widowers, single parents, and their dependents. We offer counselling, training workshops, financial advice, and career guidance, creating

a sense of community and mutual support among those facing similar challenges. Through this initiative, we aim to empower individuals and foster a supportive environment where they can overcome obstacles and thrive.

What inspires you personally to devote yourself to helping young parents and widows/widowers facing hardships?

Years ago, as a young widow and mother, I believed my life had come to an end. However, with the love of God and the support of my family, I have come to a place of gratitude. It is this personal experience that fuels my passion to help other young parents who find themselves in similar situations. I want to be a source of hope and inspiration, showing them that they can rebuild their lives and create a brighter future for themselves and their children.

How can organisations, authorities, and individuals support and contribute to the vision of empowering and supporting young parents and widows/ widowers?

We are indeed open to collaborations and partnerships with organizations, authorities, and individuals who share our vision. They can support us by joining our initiatives, contributing resources, volunteering their time and expertise, or providing financial assistance. Together, we can make a greater impact and empower more young parents and widows/widowers to overcome their challenges and lead fulfilling lives.

Let’s also talk about an initiative under RBG called Beauty for Ashes. What’s this about?

This is a yearly event for widows, widowers, and single parents. We leverage the power of storytelling to inspire and empower people. A free event held in a prestigious hotel to celebrate the great work done by widows, widowers, and Single parents. This is one of our signature events people look forward to.

COVER THISDAY 28
Seyi Oshewa-Oyedeji, a renowned Personal transformational coach, grief specialist, speaker, author, mentor, and project consultant in this interview with MARY NNAH shares how she has been making a significant impact in the lives of individuals seeking personal growth and transformation. As the Lead Coach & Trainer at Seyi Oyedeji Coaching & Consulting, she offers a range of services and initiatives designed to help people overcome grief, find purpose, and unlock their full potential
SEYI OSHEWA-OYEDEJI: Empowering Lives through Personal Tr ansformation, Support for Widows, Widowers and Single Parents

Rose of Sharon Foundation Solicits Partnership with Corporate Organisations, Individuals

The Founder of the Rose of Sharon Foundation, Apostle Folorunso Alakija, has called on public-spirited individuals and corporate organisations to partner the foundation in its quest to help alleviate the sufferings and plight of widows and orphans across Nigeria.

Apostle Alakija made this known during a concert organised by the Foundation in partnership with renowned Nigerian singer and songwriter Lady Onyeka Onwenu, to launch the song, ‘Rise Up’, composed by the singer in support of the work of the foundation. She explained that the “Rise up” concert was organised as part of the efforts to create awareness and increased visibility about the

plight of widows and orphans, and years of intervention by the foundation, in other to raise funds and create value-based partnerships to support widows, their children, and orphans.

While stating that the organisation is prepared to extend its reach beyond the shores of Nigeria, Alakija urged Nigerians to lend their support not only in monetary terms but through the provision of services, adoption of a widow, her children or an orphan, provision of educational scholarships, and any other form of support that can create empowerment for the widows and orphans. According to her, this is the time to support the foundation in its mission to touch the lives of these vulnerable members of our society.

She also revealed that the foun-

dation had been offering a variety of welfare and empowerment programs for widows since its founding in May 2008, including interest-free loans, business development and skills acquisition training, agricultural and aquaculture business schemes, advocacy programs, and free healthcare and housing for widows in extremely dire need situations.

In his welcome remarks, a member of the board of Trustees and line supervisor for the Foundation, Mr FolarinAlakija, expressed appreciation to all attendees for gracing the occasion, noting that while the foundation may have achieved notable milestones in its 14 years of existence, it is imperative to recognise that the work has just begun.

“Though the challenges are numerous, the goals are ambitious.

NERMIN AHMAD JOINS GERRY, OCANSEY AT JIFORM SUMMIT IN CANADA

It is our duty as an organisation to help the less privileged, especially when it is in our power to do so. It has become vital to achieving the foundation’s goal by collaborating with like-minded individuals or organisations.

“As the saying goes, if you want to go fast, go alone. If you want to go far, go together. That is why we are all here, to go far together”, he said.

Lady Onyeka Onwenu, the composer of the song, ‘Rise Up’, stated that having been raised by a widow, she was moved by the challenges faced by widows in society and the poor treatment meted out to them. She stressed further that the song was inspired by the need to give a message of hope to those in such circumstances, as well as men and women who may be confronted with other life challenges.

Pure Bliss Rewards Four Consumers in Ongoing ‘60 Millionaires in 60 Days Promo’

In a bid to delight its consumers and stay true to its brand promise of bliss and mood upliftment, Pure Bliss, has rewarded four consumers with one million naira each in its ongoing ‘60 Millionaires In 60 Days Promo”, held in Lagos and Kano States last Friday.

The four lucky consumers rewarded are Tunbosun Folarin, a Project Manager from Ogun State; Ayanboye Temitope, a businesswoman and resident of Ikorodu, Lagos State; Pauline Godfrey, a Fashion Designer who lives in Nassarawa andAbubakar Muhammed, a Trader and resident of Kano State. The consumers are the first four verified winners in the second edition of the promo currently ongoing in Nigeria.

Ayanboye Temitope, the winner from Ikorodu, Lagos narrated how she could not contain her disbelief and shock when she initially received the instant SMS notification of winning One Million Naira.

“When I saw the new Promo design on the Pure Bliss biscuit pack, I decided to try because my neighbourtoldmehowpeoplewere winning airtime. That day, I bought two packs - one had “Try Again” and the second one had code. I followed the instructions on the pack and received an SMS that I wonOneMillionNairabutIdidnot believe it. I was even angry with my neighbour because I did not receive the instant airtime. Only for me to receive a call from Pure Bliss later that day. I still did not believe it but I still decided to do the verification process. Even as I am here, I am still in shock, I am so happy and I now believe. Pure Bliss, thank you…”, Temitope said.

The winners were presented their respective cheques of One Million Naira each in Lagos and

Kano States by the Pure Bliss Team and the Zonal representatives of the NLRC, FCCPC and LSLGA.

The Lagos State Lotteries and Gaming Authority (LSLGA), represented by the Senior Legal Officer, Kemi Adebiyi, endorsed the promotion and also assured Nigerians that the Pure Bliss promo adheres strictly to regulatory requirements.

Speaking during the Cash Prize Presentation, Brand Manager Pure Bliss, Bukola Yusuph, emphasised Pure Bliss’ commitment to delight consumers through delicious and quality products, and rewards.

“It is all in the brand name. Running the biggest promo within the biscuits Industry

where consumers get instant airtime rewards and millions in cash prizes is in line with our brand promise and commitment to bliss and mood upliftment. We have 56 Millionaires left to reward and thank consumers who have participated. We encourage others to keep participating as we plan to reward a total of 60 consumers with one million naira each, and also give out 30 Million Naira worth of Airtime.”

Reiterating the mechanics of participating in the Promo, which ends on August 14th, 2023, or while stock lasts, Yusuph stated that consumers are to buy any Millionaire Promo pack of Pure Bliss Cookies or Wafers, look inside the

pack for a 7-digit unique code and text the unique code to 8011 using the format: PUREBLISS <SPACE> 1234567 <SPACE> LOCATION, e.g. PUREBLISS 1234567 LAGOS. The consumers will receive an SMS from 8011, notifying them of their prize – either N100 Airtime or One Million Naira as each code guarantees a prize. She emphasized that it works for all networks.

Head of the Lagos Office at the Federal Competition and Consumer Protection Commission (FCCPC), Susie Onwuka, was also present at the cheque presentation, she lauded Ok Foods the producer of Pure Bliss for coming out with such a lofty initiative.

Nigeria’s Contemporary Music Has Restored Hope inYouths, Says Afrobeat Star, LB

Nigerian Afrobeat star and youth advocate, Leonard Eze Onwuka, popularly known as LB, has lauded the influence and contribution of the Nigeria’s contemporary music to nation-building, saying it has renewed hope in youths.

Onwuka told THISDAY recently that the young Nigerians have become desirous of the genre of music, and have fully participated as artists, publicists, and creative directors, among others, to build their lives.

He observed that Nigerian society has also been positively impacted by music and other forms of entertainment.

The artist, who has released a single called ‘Mula’, and goes by the stage name, LB, recalled how he picked interest in performing art at a very young age, writing music at every slightest opportunity, watching different acts and reciting their songs.

Saying he had always wanted to be a performer, the songster, who said Mula was released last month and composed by himself alongside Momoh Oshiotseameh

Luke, acknowledged that the Nigerian music industry has grown big, remembering how it was in 2004 when he was and still ardent music listener.

According to the youth advocate, “I have always wished to be a star in the music landscape. I’m glad at what we have achieved, and I know I’ve got a major role to play to better it.”

On the challenges in getting a record label and his musical life in general, the Abia State-born singer expressed hope to work with big acts in the industry, strike deals and get exposed

Harvard scholar and United Nations Representative on Migration and Sustainability, Nermin Karin Ahmad (Ms) has been listed among top speakers at the 4th Journalists International Forum For Migration (JIFORM) Global Migration holding in Toronto, Canada between October 2-14.

The hybrid event themed climate change, human mobility, and sustainable investment summit would attract participants from the media, business community, migrant workers, immigration and judicial workers, government officials and other related professionals.

Dr Ajibola Abayomi, the President of the JIFORM in a statement confirmed that, Nermin, a lingua franca, an Afghanistan-American would join other esteemed speakers that included former Minister of Immigration, Citizenship, and Secretary of State of Canada, Gerry Weiner, now the, Executive Director, Global Relations, Partnerships, and Customer Satisfaction, APS, Canada Startup Visas and Dr Princess Asie Kabuki Ocansey, a member of the African Union Labour Migration Advisory Committee to x-ray global migration.

She holds M.Sc., International Relations from London School of Economics and Political Science. A.B., Government from Harvard College apart from Certificate of Competence in Community Relations Practice, Witwatersrand University, Johannesburg, South Africa and Certificate in Human Rights Studies: Renée Cassin Institut Internationale des Droits de l’Homme, Strasbourg, France and would deliver a presentation Diversity in Migrant Management and Economic Sustainability at the summit.

Gerry had declared his full backing for the event and called on other bodies to encourage journalists and migration institutions to always brain storm to proffer solutions to the global migration challenges. He also urged developed countries to borrow a leaf from the Canadian friendly migration policies to boost the world economy.

Her Excellency, Rev. Dr. A.K. Ocansey is an international bestselling author of: Deadly Work or Decent Work? The Africa-Middle East Domestic Workers Migration Process. She is the Chairperson of the United Nations Youth Association- Ghana and the Enddeadlywork Coalition, USA.

She is the Executive Chairperson of the Nekotech Center of Excellence and Founder of the Nekotech Center for Labour Migration Diplomacy, which advises and supports African leaders and Governments on Labour Migration policy and operationalisation of excellent Decent Work programs to break the spell of African Youth Unemployment by matching them with vetted international employers.

Ocansey, was a former member of the Ghana Constitution Consultative Assembly. Her Excellency attended Wesley Girls’ High School in Cape Coast, and Rutgers University – College of Engineering where she received a Bachelor of Science degree in Ceramic Engineering, and a Graduate Certificate in Packaging Science and Engineering/specializing in Plastics Engineering, as well as attaining a graduate certificate in International Trade and Finance from NYU, New York. She obtained her doctorate in Divinity from CICA, Canada.

to the world’s biggest stages.

On how to hit the zenith, Onwuka stated: “Well I won’t really say I’ve got it all planned out. But for a start, I have a team that supports me, and we all have a big dream. I’ll keep releasing good music and market them strategically for sure. I’ll let God lead.”

In his parting word to the world regarding his music, LB said: “Believe in your dreams, believe in God to help you get there. Things can really be tough, but that’s what makes your story different. My music is my voice.”

Dignitaries expected to participate in the program include Professor Byron Price of the Medgars Evers College, City University, New York, USA, Philomena Gnanapragasam, the Director, of Asia-Pacific Institute for Broadcasting Development (AIBD) and Ms. Phelisa Nkomo from South Africa.

Invitations have also been extended to United Nations Non-Governmental Organization, First Fridays Toronto and Canada- Africa Chamber of Business.

JIFORM, founded in 2019, is a non-profit body comprising over 300 journalists and other volunteers across the continents covering migration matt ers.

The body had facilitated among other thing the maiden African Migration summit in partnership with the Nekotech Center of Excellence in Accra, Ghana in 2021, the West African Media Migration Summit in Togo in 2021 and an intercontinental migration summit in partnership with Medgar Evers College, City University, Brooklyn, in NewYork between November 2-4, 2022.

NEWS THISDAY 29
Sunday Okobi L-R: Senior ASM OK Foods, Deepak Kumar; Senior Legal Officer, Lagos State Lottery & Games Authority (LSLGA), Kemi Adebiyi; Brand Manager, Pure Bliss, Bukola Yusuph; One Million Naira Winner, Tubosun Folarin; Head of Lagos Office, Federal Competition & Consumer Protection Council (FCCPC), Suzie Onwuka; National Lottery Regulatory Council (NLRC), Ini Ibok, and RSM, Ok Foods, Sagar Choudury at the event

President, African Development Bank Group (AfDB), Dr. Akinwunmi Adesina (left), and Founder, Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation, Mr. Emeka Ugwu-Oju, during a ‘Day of Dialogue’ on key challenges faced in a market like that of Nigeria, which was organised by Business Day Newspapers in Lagos…recently

L-R: Former Minister of Industry, Chief Nike Akande (left), and her husband and Ekarun Olubadan of Ibadanland, Oba Adebayo Akande, after his coronation with other high chiefs representing Olubadan of Ibadanland at the 11 Local Government Traditional Councils in Ibadanland as beaded crown Obas, held at the Mapo Hall in Ibadan, Oyo State…recently

L-R Chairman Nigerian Bar Association (NBA), Benin-city branch, Nosa Edo-Osagie; his two children, Adesuwa LaTanya Edo-Osagie and Omorogiuwa Montel Edo-Osagie, at the graduation ceremony of Adesuwa (LLB) recently, and Omorogiuwa having graduated LLM earlier from the University of Birmingham, United Kingdom...recently

L-R: Vice President, Auchi Polytechnic Alumni Association (APAA), Abuja branch, Zakeri Salawe; President, APAA, Mr. Sanni Onogu; acting Chairman, Nigeria Union of Journalists (NUJ), Abuja Council, Patrick Osadebamwen; and Secretary, NUJ Abuja Council, during the APAA congratulatory visit to the acting chairman of NUJ at the secretariat in Abuja…recently

ENOCK REUBEN

L-R: Category Manager, Beverages, Caraway Africa Nigeria Limited, Oluwatoyin Popoola-Diana; Assistant Chief, Monitoring and Enforcement, National Lottery Regulatory Commission, Niyi Adeleke; Assistant Brand Manager, Caraway Africa Nigeria Limited, Ramat Haruna; Head of Lagos Office, Federal Competition and Consumer Protection Commission, Susie Onwuka; Senior Legal Officer, Lagos Gaming and Lottery Board, Kemi Adebiyi; and Regional Sales Manager, Caraway Africa Nigeria Limited, Gabriel Akala, at the FreshYo mega millions promo draw in Lagos…recently

A cross-section of Osun State commissioners taking oaths of office in Osogbo, the state capital…recently

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com 30 THISDAY DAY JULY 21, 2023
IMAGES
PHOTO:

GAMING WEEK

At Gamr X 2.0, Africa’s Thriving Esport Sector Showcases Exceptional Talents

For a sophomore edition, Gamr X 2.0 was more than just a gaming tournament. All of the activities culminated in a celebration of Africa’s thriving esport community powered by young, passionate individuals and a testament to the continent’s rapidly growing influence in the global gaming scene as evidenced by the diversity of the players, writes Iyke

Although North America, Europe and Asia dwarf the esport sector in Africa in terms of market size, undoubtedly, Africa has earned a spot at the table in recent years with its contribution to the global esport as an emerging sector with a gaming market size of $1.92 million.

Leveraging this growing interest that has birthed gaming enthusiasts gradually adopting esport as a profession, Gamr Africa in 2022 kicked off the maiden Gamr X Tournament to recognise and reward these passionate African gamers while continuing to provide infrastructure support toward the advancement of the sector into a multimillion-dollar economy.

In a breathtaking showcase of exceptional agility, numerous demanding rounds, and fervent fan support, Gamr Africa presented the second instalment of the Gamr X tournament. This monumental gaming competition now stands as one of Africa’s most prominent gaming events, amassing an attendance of close to 6,000 physical attendees and scores of gamers hailing from 17 different countries across the continent.

Like the previous year, the tournament provided players with platforms to showcase their exceptional skills in different game titles. FIFA, PUBGM, Call of Duty Mobile, Mortal Kombat, and Street Fighter titles returned for the second consecutive year, adding a new title —Free Fire —to ensure it captures a more diverse audience this time.

With each title taking place at a different scheduled time, the players were strategically positioned in proximity to the audience, who watched them play in real-time and

Charting

AIMING HIGH…

relied on shoutcasters that were projected overhead to provide detailed gaming analysis.

PUBG, the first tournament of seven, hosted 15 teams, including nationals of Nigeria, Senegal, Ghana, and Kenya flanking the stage. The Street Fighter Kumite championship made its presence conspicuous with its signature cage setting where gamers faced off against one another in a virtual bloodbath to clinch glory. Gamr X 2.0 transformed the Convention Centre of the Eko Hotel and Suites into a gaming universe where African Esports players pulled out all the stops.

But as one would expect of any conventional gaming tournament, mini-tournaments were also held for the attendees to partake in. This was made possible through

exhibitors who provided simple traditional games and immersive virtual reality (VR) games to test and reward their passion, thus fostering a sense of camaraderie while serving as a source of inspiration for those looking forward to a career in professional Esports.

Although a gaming tournament, Gamr X 2.0 was where entertainment and Esports converged. With the help of a Disc Jockey, musical interludes blaring out from the surround sound systems helped keep guests and contestants entertained as the tournament progressed. Elevating the spectacle to new heights, Gamr X 2.0 featured exceptional performances by various artistes who took to the stage to deliver top-notch performances. Some of the event’s outstanding performers included Victory and BenDancer. Their enthralling acts

garnered warm reception from the audience, adding an extra dimension of allure to the proceedings. Midway through the bustling that marked teams and individuals racing to the finish point, a twist was introduced. Rapper Ladipoe and singer-songwriter Crayon challenged each other’s keypad prowess in a one-to-one FIFA battle, much to the delight of many. Although a brief exchange, Crayon stamped his name in the hearts of the lot who cheered him on as a formidable opponent that left Ladipoe with a bruised ego. Crayon emerged victorious after a 3-1 scoreline.

Following several hours of waiting in line to get into the venue, the adrenaline surge that comes with the thrill of discovering new favourite players and teams, and tirelessly expressing support with the hope

Path for Market Growth in East Africa

Day two of the eighth annual edition of the Sports Betting East Africa 2023 Summit brought together a high-spirited gathering of participants. The air was filled with excitement as attendees eagerly anticipated the golden business prospects and crucial insights to come. With a focus on the thriving sports betting scene in East Africa, the programme promised to delve deeper into the trends and opportunities within

the industry.

Chairperson of Thomas Buckley Opar Owuor commanded the stage once again, delivering impactful opening remarks that set the tone for an engaging day of discussions at SBEA+ 2023.

Wendall Kaba, Senior Gaming Technology Adviser from Gaming Laboratories International, kicked off the day and addressed the importance of regulation and certification from a recognised

laboratory. Kaba expertly expressed the significance of regulation and certification in the industry.

Simon Pepper, Chief Product Officer of Tola Mobile Ltd, delivered an insightful solo presentation titled ‘Mobile Money Integration across sub-Saharan Africa, the opportunity and benefits of a single API for all.” Pepper discussed the advantages and opportunities of a unified

API for mobile money integration in the region. The day continued with a highly anticipated panel discussion on Kenya’s newly implemented tax payouts.

Moderated by Najib Balinda, Chief Business Development Officer of Genius Gaming Consult, gaming professionals Alessandro Pizzolotto, Balton Omwodo, Toddy Thairu and Emily Asava took on the challenge of navigating the topic.

ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY

they emerge victorious, winners from the several title tournaments began to trickle in. At this stage, it was evident where each person stood. Their gloomy or elated disposition gave them off.

After several head-on collisions in the Kumite cage where players slugged it out with the Street Fighter title, Chux, a two-time Red Bull national champion, reminded the audience of the grit and skill he was made of as he obliterated his opponents to snag the title. In a similar light, Hamza, who represented Senegal, defeated his opponents through his unique playing style that earned him several knockouts (KO) in the Mortal Kombat 11 title.

Deviating from the gore and brutality that paints combat games, players vying for the top spot in FIFA, a title guided by fair play, put on an impressive showcase of their tact and strategy as individuals

advanced to the finals. Once again, Senegal clinched glory through DexJnr, a standout player who exhibited sheer precision throughout his play. The winning streak for Senegal also continued into the PUBGM title. Team Solo Esports after scaling through various missions, took home the title.

In the Call of Duty Mobile title, Team SIERRA 7 showcased their dominance in the game, requiring each team member to be on high alert. The Free Fire title was won by Top Rated 2. Both teams are representatives of Nigeria in the tournament.

Indeed, for a sophomore edition, Gamr X 2.0 was more than just a gaming tournament. All of the activities culminated in a celebration of Africa’s thriving esport community powered by young, passionate individuals and a testament to the continent’s rapidly growing influence in the global gaming scene as evidenced by the diversity of the players, which served as a conduit for cultural exchanges within the African context.

As the tournament ended, the memories of exhilarating matches, inspiring performances, and camaraderie among attendees lingered, leaving a lasting impact on those who attended the gaming extravaganza.

Looking ahead, Gamr Africa’s commitment to pushing the boundaries of gaming in Africa to attain global impact and recognition for African gamers promises a brighter future. With this instalment that saw an increase in attendance, the expansion of titles to attract new talents to share the millions of Naira worth of prizes reveals a growth trajectory. One would expect an even grander third edition next year.

31 FRIDAY, JULY 21, 2023 THISDAY
GAMING WEEK TEAM Nseobong Okon-Ekong ikotibok@gmail.com | 08114495324 Iyke Bede ikennabede@gmail.com | 0703 044 7714 Akeem Lasisi lasaisai@yahoo.com | 08023687884 Vanessa Obioha vaysylver@gmail.com | 08069838305 Davidson Abraham davisiano.adm@gmail.com | +971 56 744 6013
08114495324
Scenes from the recent second edition of Gamr X tournament in Lagos

NOVA Merchant Bank Receives Shareholders Nod for Full Commercial Banking Licence

Oluchi Chibuzor

NOVA Merchant Bank has announced that it has received approval from its shareholders to transition into commercial banking.

The shareholders gave their unanimous approval during the company’s 6th Annual General Meeting (AGM) in Lagos, where they agreed that the bank remains well-positioned to sustain and build upon its growth legacy.

The Chairman, NOVA Merchant Bank, Mr. Phillips Oduoza, who addressed shareholders at the meeting, explained that the decision to transition will help the

bank to further streamline its operations, bolster its financial stability, and foster sustainable growth across its businesses.

He said, “I am excited about the prospects of NOVA as we embark on this new growth phase. This strategic move is in line with our vision of expanding operations and diversifying services while providing exceptional services to our valued customers.

Continuing, he said, “The Management of the Bank has firmly established a remarkable legacy of growth since its inception and has consistently demonstrated its ability to achieve substantial

progress across various parameters and the commercial banking license will strengthen the Bank’s revenue base, entrench value creation, impact earnings growth and sustain higher returns for the shareholders, while affording more banking customers across the nation the opportunity to enjoy the products and services of NOVA Bank.”

NOVA’s Managing Director, Mr. Nath Ude, said, that with the new license, the bank is poised to extend its comprehensive range of financial services throughout Nigeria and cement its position as a leading player in the Nigerian banking industry.

SFL Grows Kilimanjaro Footprint in Nigeria

Leading restaurant brand in Nigeria, Sundry Foods Limited (SFL), has grown the restaurant count of Kilimanjaro, its foremost quick restaurant brand in Nigeria, with the opening of four new restaurants in various parts of the country.

SFL’s Head Marketing, Nduka Mokwunye said in a statement that the new branches are located at Bond Mall, Ring Road, Ibadan, Oyo state and Ogbor Hill area of Aba, Abia state.

Others include two new branches located in the Kuje area of Abuja, the Federal Capital Territory and along Ekenwa road in Benin City, the Edo State capital respectively.

Mokwunye further said that the company reopened

its Rumuokuta, Port-Harcourt restaurant in Rivers State recently, after a temporary closure due to its proximity to the construction works on an over bridge in the area.

“Our expansion drive is driven by our desire to deliver our trademark excellent quality food and related services to Nigerians all over the country” the statement said quoting Nnamdi Opara, Executive Director, SFL. We often ask ourselves the question “why should some Nigerians enjoy our services and others can’t?

”Opara continued.

According to the statement, Opara revealed that SFLhas entered a new era of growth driven by an unparalleled expansion plan and the acceler-

ated expansion of its business including that of its flagship restaurant brand - Kilimanjaro, is a direct consequence of meticulous execution of the company’s business plan.

“By making strategic and highly targeted investments to drive value for partners, SFL will also drive value for customers and shareholders, while managing costs, improving margins, and elevating the company’s experience for all stakeholders,” Opara said.

He emphasized that as SFLexecutes itsstrategic expansion plan, the company is building on 18 years history of market leading innovation to position the company’s business and brand for the next chapter of growth.

Alaro City Partners with Epe Fire Service to Bolster Protection

Kayode Tokede

Alaro City, Lagos’ new city, has donated uniforms to Epe Fire Service, demonstrating its commitment to the safety and well-being of the local community.

The donation, presented at the Epe Fire Station, was warmly welcomed by Chief Fire Officer of Epe Fire Services, Iyabo Monsurat Yusuf,

“We are immensely grateful

to Alaro City for this generous donation of uniforms. This contribution will greatly enhance our firefighters’ ability to respond to emergencies and protect the lives and property of the Epe community. Alaro City, located next to the town of Epe, actively engages with the local community and supports initiatives that contribute to its growth and development.

At Alaro City, we recognize the vital role played by the

Epe Fire Service in ensuring the safety andwell-being of the community,” said Yomi Amoussa, Corporate Affairs Manager of Alaro City.

“We are delighted to contribute to their efforts by providing uniforms that will help enhance their emergency response capabilities. We believe in supporting and strengthening the organisations and services that make the Epe community thrive, “he said.

NDIC Trains Students On Financial Literacy in Sokoto

Onuminya Innocent in Sokoto

The Nigeria Deposit Insurance Corporation (NDIC) has stated that it is committed to driving financial literacy to the young generation in the country.

In a training organized by the corporation for secondary school students in Sokoto State on financial literacy, the corporation disclosed that the training was meant to make the students embrace a saving

attitude.

The 2023 training, which was attended by hundreds of students, drawn from some secondary schools in the state, was in commemoration of the 2023 Financial Literacy Day, with its theme, “Plan Your Money, Plant Your Future.”

Addressing the students at Hapsatu Government Girls Secondary School, Sokoto on Wednesday, the controller of NDIC in the state Bello Usman Kaoje

Money Market Indicators (in Percentage)

said the programme which was in partnership with the Sokoto State ministry of education was part of the organisation’s Corporate Social Responsibility.

Kaoje said the annual financial literacy programme was designed in the spirit of “catch them young and make the learners financially literate”, because the habit of saving was education itself as it teaches self-denial and which young ones must embrace and take seriously.

Tinubu, Obasanjo, Jonathan for Olusegun Aganga’s Book Launch

President Bola Tinubu, former Presidents Olusegun Obasanjo and Goodluck Jonathan are expected to grace the launch of “Reclaiming the Jewel of Africa” by Olusegun Aganga Nigeria’s former Minister of Finance and pioneer Minister of Industry Trade and Investment next Monday 24th July in Abuja.

According to the organisers, Tinubu will be the guest of honour at the book launch while Obasanjo would deliver

the keynote address. The launch, which is scheduled for 10 am at the Shehu Musa Yar’Adua Centre, Abuja, would be chaired by Jonathan.

Reclaiming the Jewel of Africa is a blueprint for taking Nigeria and Africa from potential to prosperity. The book documents Aganga’s activities and experiences in and out of government.

It also essentially contains recommendations requisite for

Nigeria and Africa at large, to take the needed leap to enviable heights. Aganga was two-term Minister between 2010 and 2015 in Jonathan’s administration.

“This book is the culmination of my years of experience and passion for transforming Nigeria and Africa. It provides practical strategies and actionable steps for unlocking our economic potential and achieving lasting prosperity,” noted Aganga.

The price of OPEC basket of thirteen crudes stood at $82.06 a barrel on Friday, compared with $81.53 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), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

BUSINESS/ MONEYGUIDE
MONEY AND CREDIT STATISTICS (MILLION NAIRA) MARCH 2023 Money Supply (M3) 54,634,063.50 -- CBN Bills Held by Money Holding Sectors 442,402.18 Money Supply (M2) 54,191,661.32 -- Quasi Money 32,839,133.46 -- Narrow Money (M1) 21,352,527.87 ---- Currency Outside Banks 1,445,439.42 ---- Demand Deposits 119,907,088.45 Net Foreign Assets (NFA) 5,992,904.55 Net Domestic Assets(NDA) 48,641,158.95 -- Net Domestic Credit (NDC) 70,596,115.20 ---- Credit to Government (Net) 27,529,720.19 ---- Memo: Credit to Govt. (Net) less FMA 0.00 ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 ---- Credit to Private Sector (CPS) 43,066,395.01 --Other Assets Net 11,123,812.79 Reserve Money (Base Money 15,975,739.59 --Currency in Circulation 1,683,498.35 --Banks Reserves 14,292,241.24 --Special Intervention Reserves 419,889.49
MARKET INDICATORS
MonthApril 2023 Inter-Bank Call Rate 15.80 Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR) 18.00 Treasury Bill Rate 5.73 Savings Deposit Rate 4.59 1 Month Deposit Rate 7.32 3 Months Deposit Rate 7.92 6 Months Deposit Rate 9.84 12 Months Deposit Rate 8.18 Prime Lending rate 14.05 Maximum Lending Rate 28.59
OPEC DAILY BASKET PRICE AS AT 17 JULY, 2023
32 THISDAY FRIDAY, JULY 21, 2023
R-L: Chairman, NOVA Merchant Bank, Phillips Oduoza and Managing Director/CEO. Nath Ude during the bank’s annual general meeting in Lagos...recently

Abegunde: eTranzact Committed to Becoming Global Leader in Payment Industry

Kayode Tokede

The chairman, eTranzact International Plc, Mr. Wole Abegunde yesterday said the company is poised and committed to becoming a regional leader in the medium term and in the long term, a global leader in the electronic and mobile payment industry.

Abegunde, who was represented by Mr. Afolabi

Oladele at the 19th Annual General Meeting (AGM) of the company in Lagos promised shareholders that the company would continue to deliver secure, cost-effective, and innovative electronic and mobile payment services that are compliant with globally recognized standards.

He said 2022 was a significant year in the history of the company’s financial performance as the company was able to achieve

an unprecedented profit after tax of N1.17 billion which represents 157.81per cent increase over the prior year.

According to him, “The focus and expansion of the company’s core switching services) has been pivotal in the improvement of the company’s performance.

“The landmark achievement is down to the management’s drive for excellence and demonstration of the commitment of the

management and the board to ensure maximum returns on the investment of shareholders. The Company will not relent on the performance and will seek more business opportunities to boost subsequent financial results.”

On strategic positioning, he said “As a company, we fully understand the benefits of strategic alliances and the potential business opportunities these can create. We have fostered new

relationships, enhanced and deepened existing ones and explored newer opportunities within our ongoing associations with existing Partners. We are positive that our alliances will lead to improved performances in the years ahead.”

Speaking also, the Managing Director eTranzact, Olaniyi Toluwalope said 2022 was one of milestones and major strides in further establishing eTranzact

as the Superfintech of Choice. He explained further that, “It is a privilege and honour to be the anchor and at the forefront of driving the Company towards the achievement of the corporate objectives) and the overall vision.

“eTranzact International continued on the path of the impressive streak of profitability, excellence and quality service delivery, which were the highlights and hallmarks of 2021.

PRICES FOR SECURITIES TRADED ASOF JULY/20/23

MARKET NEWS
MAIN BOARDDEALS MARKET PRICE QUANTITY TRADED VALUE TRADED ( N ) MAIN BOARDDEALS MARKET PRICE QUANTITY TRADED VALUE TRADED ( N )
33 THISDAY AY, JULY 21, 2023

Friday, July 21, 2023

THISDAY AFRINVEST 40 INDEX

STERLINGNG159.03.7% SEPLAT152.50.0%

THISDAY • FRIDAY, JULY 21, 2023 TickerPricePrice Chg % UPL2.4210.0% EUNISELL3.2010.0% ACADEMY2.4310.0% CHELLARAM2.339.9% IKEJAHOTEL2.809.4% REDSTAREX3.739.1% PRESTIGE0.498.9% JOHNHOLT2.608.8% SOVRENINS0.538.2% TANTALIZER0.278.0% TickerPricePrice Chg % COURTVILLE0.64-9.9% FTNCOCOA1.87-9.7% ABBEYBDS1.24-9.5% MAYBAKER5.45-9.2% UPDC1.07-8.5% DAARCOMM0.35-7.9% VERITASKAP0.27-6.9% CHAMS0.95-5.9% UACN10.00-5.7% RTBRISCOE0.53-5.4% Top 10 Gainers Top 10 Losers TickerVolumePrice Chg % UBA961.52.7% STERLINGNG43.73.7% FBNH40.30.8% JAPAULGOLD36.0-3.8% UNIVINSURE35.10.0% FIDELITYBK20.4-3.9% GTCO19.20.6% FCMB18.0-0.2% HONYFLOUR15.0-2.2% ACCESSCORP14.90.6% TickerValuePrice Chg % UBA13306.52.7% FBNH720.10.8% GTCO670.00.6% ZENITHBANK443.80.2% MTNN397.60.0% AIRTELAFRI386.10.0% ETERNA300.06.1% ACCESSCORP249.20.6%
Top 10 Trades by Volume Top 10 Trades by Value Ticker Current Price Previous Price Change Current Weighting Price Change YTD Price Change Index to Date ROEROAP/EP/BV Divindend Yield Earnings Yield THISDAY AFRINVEST 402797.240.24%50.8%179.7%23.4%5.4%6.5x1.1x6.0%13.1% 1 BUA Foods PLC 135.75 0.0% 18.7%108.8%0.0%45.4%17.7%21.8x9.0x3.4%4.6% 2 MTN Nigeria Communications PLC 270.00 0.0% 10.2%25.6%-1.2%91.7%13.2%15.2x12.7x5.8%6.6% 3 Airtel Africa PLC 1,319.90 0.0% 10.0%-19.3%0.0%18.6%6.2%2.8% 4 Guaranty Trust Holding Co PLC 35.00 0.6% 7.9%52.2%0.0%19.7%3.0%5.4x1.1x8.9%18.6% 5 Zenith Bank PLC 32.30 0.2% 6.8%34.6%-5.7%16.7%2.0%4.4x0.7x9.9%22.9% 6 FBN Holdings Plc 18.05 0.8% 4.7%65.6%5.9%16.1%1.5%4.3x0.7x2.9%23.5% 7 Dangote Cement PLC 352.00 0.0% 5.4%34.9%23.5%34.8%14.7%15.6x5.2x6.3%6.4% 8 Lafarge Africa PLC 28.70 0.0% 3.5%19.6%-2.7%12.3%9.1%9.1x1.1x7.0%11.0% 9 United Bank for Africa PLC 13.55 2.7% 3.3%78.3%10.6%20.4%1.7%2.6x0.5x8.1%38.1% 10 SEPLAT Energy PLC 1,399.80 0.0% 2.5%32.5%0.0%5.7%2.8%10.0x0.6x3.3%10.0% 11 Nestle Nigeria PLC 1,175.00 0.0% 2.4%6.8%-6.0%110.1%12.8%19.7x20.1x5.4%5.1% 12 Access Holdings PLC 16.70 0.6% 4.3%96.5%79.6%13.9%1.2%3.4x0.4x15.6%29.8% 13 Stanbic IBTC Holdings PLC 57.00 0.0% 2.3%70.4%5.6%22.4%2.9%7.4x1.7x6.1%13.4% 14 Ecobank Transnational Inc 14.75 0.0% 2.0%39.2%-3.0%19.1%1.0%1.6x0.3x3.5%62.6% 15 Okomu Oil Palm PLC 250.30 0.0% 1.8%51.7%6.5%47.7%23.5%14.7x7.0x4.8%6.8% 16 Nigerian Breweries PLC 39.70 0.0% 1.4%-3.2%-11.8%-6.3%-1.9%1.9x3.4%-3.4% 17 Fidelity Bank PLC 7.11 -3.9% 1.6%63.4%1.6%16.7%1.4%3.9x0.6x5.6%25.8% 18 Flour Mills of Nigeria PLC 30.00 0.0% 0.9%5.6%-12.0%11.4%2.5%5.9x0.6x17.1% 19 Transnational Corp of Nigeria 3.94 1.0% 1.2%248.7%12.3%6.4%1.5%23.8x1.5x1.3%4.2% 20 International Breweries PLC 4.85 0.0% 1.0%3.2%-6.7%-19.2%-5.2%1.1x-19.0% 21 AXA Mansard Insurance PLC 3.79 -0.3% 0.8%89.5%-4.1%13.3%3.4%6.9x1.2x8.1%14.4% 22 FCMB Group Plc 6.19 -0.2% 0.8%60.8%21.4%12.7%1.3%3.5x0.4x4.1%28.6% 23 PZ Cussons Nigeria PLC 19.95 2.8% 0.6%75.8%-9.3%35.2%10.0%5.4x1.8x5.1%18.6% 24 Guinness Nigeria PLC 80.00 0.0% 0.7%15.4%0.0%7.3%2.9%28.1x2.2x9.8%3.6% 25 Dangote Sugar Refinery PLC 28.40 3.3% 0.7%76.9%13.6%36.5%12.3%5.9x2.1x5.4%17.0% 26 Presco PLC 220.00 0.0% 0.7%60.0%23.6%53.4%13.5%11.4x5.2x0.9%8.8% 27 United Capital PLC 14.55 -0.3% 0.5%3.9%-7.6%38.7%1.6%8.9x3.3x10.3%11.2% 28 BUA Cement Plc 98.95 0.0% 0.5%1.2%7.3%25.0%12.6%33.2x8.2x3.1%3.0% 29 NASCON Allied Industries PLC 29.00 3.6% 0.6%161.3%55.1%37.7%13.0%11.4x3.7x3.4%8.8% 30 TotalEnergies Marketing Nigeri 370.00 0.0% 0.4%91.7%5.7%34.8%5.8%7.7x2.7x6.8%12.9% 31 Wema Bank PLC 4.55 1.1% 0.2%16.7%-14.0%17.2%1.0%3.5x0.7x6.7%28.7% 32 Jaiz Bank PLC 1.80 5.3% 0.3%95.7%7.8%27.5%2.0%8.4x2.1x27.8%12.0% 33 Geregu Power PLC 333.00 5.7% 0.3%123.5%11.0% 25.4x2.5% 34 Union Bank of Nigeria PLC 6.90 0.0% 0.2%7.8%-6.1%15.8%1.6%5.6x0.7x17.8% 35 Julius Berger Nigeria PLC 29.50 0.0% 0.2%20.4%-4.8%11.2%1.3%7.3x0.8x8.9%13.6% 36 Unilever Nigeria PLC 17.00 0.0% 0.2%46.6%4.3%7.8%4.2%18.3x1.4x1.5%5.5% 37 Sterling Financial Holdings Co 3.60 3.7% 0.1% 4.0% 38 Conoil PLC 112.50 0.0% 0.2%324.5%35.5%34.4%13.1%9.0x2.8x2.5%11.1% 39 Transcorp Hotels Plc 36.55 0.0% 0.2%484.8%56.2%3.5%1.9%165.1x5.9x0.4%0.6% 40 Notore Chemical Industries Ltd 62.50 0.0% 0.0%0.0%0.0%-27.3%-6.4%1.5x-16.5% Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
34
Marginal Gains on the Bourse... ASI up 0.3%.

MITIGATE HARDSHIP IN THE LAND...

DHQ: Several Generals Turn in Applications for Voluntary Retirement

Kingsley Nwezeh in Abuja

The military high command, yesterday, officially announced that retiring generals from the Army, Navy and Air Force have indicated their intention to embark on compulsory retirement following the appointment of their juniors as service chiefs.

THISDAY gathered that over 200 generals from the three services were exiting the military following the appointment of service chiefs.

This was as the Directorate of Defence Media Operations (DDMO), explained why troops of Operation Delta Safe (OPDS) burnt the impounded vessel loaded with suspected stolen crude oil during military operations in the Niger Delta region.

The Chief of Defence Staff, Maj Gen Christopher Musa, is of the

38 Regular Course of the Nigerian Defence Academy (NDA) while the other military service chiefs are of the 39 Regular Course.

Following their appointment, generals who were senior to the new service chief and some of their course mates were expected to exit the service.

Already, military officers, who were course mates of the former service chiefs, notably, Courses 37 and 36 had exited the military.

Speaking at a media briefing in Abuja, the Acting Director Defence Information (DDI), Brig-Gen Tukur Gusau, said the affected officers from the three services had already turned in their application for voluntary retirement.

"From day one that you got admitted to NDA, you know your seniors and your juniors. When your junior is appointed service chief, you have to put

Ogun Tribunal: WAEC Doesn’t Keep Candidates’ Certificate

James Sowole in Abeokuta

An official of the West African Examination Council (WAEC), Mr. Olufemi Olaleye, yesterday, told the Ogun State Governorship Election Tribunal sitting in Abeokuta, Ogun State capital, that the examination body, did not keep duplicate copy of candidates' certificate.

Olaleye said to confirm whether or not somebody partook in the council’s examination, “the original certificate given to the candidate will be forwarded to WAEC” for verification.

Olaleye's statement was sequel to the summoning of the WAEC by the tribunal, asking the examination body to verify and present a copy of the WAEC certificate presented by Governor Dapo Abiodun, to the INEC.

The examination council had earlier been subpoenaed by the tribunal to produce a copy of Abiodun’s 1978 WAEC certificate as attached to the form he filled with the Independent National Electoral Commission (INEC).

Candidate of the Peoples Democratic Party (PDP), Ladi Adebutu, in the March 18 governorship election, had alleged that Abiodun forged his WAEC

certificate.

In his petition, Adebutu stated that, Abiodun “presented a forged West African Examinations Council School Certificate of June 1978 to the 1st Respondent” (INEC) on July 25, 2022.

The petitioner further stated that he had written a letter to WAEC, to verify the authenticity of the said examination certificate presented by Abiodun to INEC.

In the petition, “The petitioners shall at the trial subpoena officials of the said West African Examinations Council to testify on the falsity of the said certificate

While appearing before the tribunal, the WAEC official was not sworn, neither was he allowed to enter the witness box as he said “the requested certificate is not here with me.”

Asked whether he was with the copy of the said certificate, he said, "WAEC does not issue certificate to candidate twice.”

Olaleye was however allowed to tender in evidence, a copy of the subpoena issued to the examination body, upon which he was at the tribunal.

He was discharged immediately he was recorded as having testified before the tribunal as PW73.

in your retirement papers. So, I confirmed to you that officers have put in their application for voluntary retirement.

“Officers put in their applications for voluntary retirement and they got their responses from the various military secretaries. When we get the number, we will let you know," he said.

Meanwhile, the Directorate of Defence Media Operations (DDMO), has explained why troops of Operation Delta Safe (OPDS) burnt the impounded vessel loaded with suspected stolen crude oil during military operations in the Niger Delta region.

Speaking in Abuja, the Director of Defence Media Operations

(DDMO), Maj Gen Edward Buba, said troops, who intercepted and destroyed the vessel loaded with stolen crude oil followed instruction and strict adherence to the military operational code of conduct.

“On 11 July 23, the vessel was destroyed by an extant operating procedure that stipulates instant destruction of any vehicle, vessel

or equipment linked with crude oil theft," he said.

Responding to questions on the need to review such laws based on the environmental implication of such decisions, he said the military follows orders.

"In the military, we follow instruction. If it (the law) is reviewed, we will work with it," he said.

APC Chairmanship: Lukman Confirms THISDAY Story, Says Choice of Ganduje Insensitive

Adedayo Akinwale in Abuja

National Vice Chairman, North-West, of the All Progressives Congress (APC),Dr. Salihu Lukman, has described speculation doing the rounds that the immediate past governor of Kano State, Abdullahi Ganduje, might emerge the next national chairman of the party as insensitive.

Lukman, who confirmed the THISDAY story in a statement, yesterday, said, if the speculation emerging from the APC governors was true, it would completely distort the zoning arrangement that informed the present configuration of the leadership of the National Assembly.

He said with the exit of former National chairman, Senator Abdullahi Adamu and the former Secretary, Senator Iyiola Omisore, there was a need to restore constitutional order in APC by complying with extant provisions of the party’s constitution.

The party chieftain noted that a situation whereby the National Chairman usurped powers of National Working Committee (NWC) and all organs of the party was unacceptable, stressing that, all organs of the party, namely, National Advisory Council (NAC), National Caucus, National Executive Committee (NEC) must be allowed to function in accordance with provisions of the party’s constitution.

He insisted that the irresponsible culture of asking organs of the party to donate their powers to the NWC, which basically empowers the National Chairman to convert all the resources of the party to personal use, must end.

Lukman pointed out that many of the speculations about Adamu's successor did not share the commitment to either restore constitutional order in the party or return the party to its founding vision of returning to the path of

progressive politics.

He said some of the speculations, if true, would reduce to nonsense the decision to have a change of leadership, which meant that no lessons had been learnt from all the circumstances of the last few years since the emergence of APC as a political party.

"Already, part of the speculations emerging from the Governors bloc is that Dr. Abdullahi Umar Ganduje is being considered to succeed Senator Abdullahi Adamu. If this is true, it only suggests insensitivity and taking members of the party for granted.

"This is without prejudice to the person of Dr. Ganduje. This is because such a choice will completely distort the zoning arrangement that informed the present configuration of the leadership of the National Assembly.

“With the Speaker of House of Representatives and Deputy Senate President coming from North West

and North Central shut out of consideration, to propose the party’s national chairman to move to North West from North Central will be unjust and almost a political suicide.

"We must caution our governors that since the emergence of APC, governors have served almost as the conscience of the party. Any consideration for such an insensitive and unjust consideration of Dr. Ganduje to become the National Chairman of APC must be discarded. If anything, the position of National Chairman of the APC must be retained in North Central.

"Part of the challenge of managing the current transition within the party is getting the NWC to properly take the driving seat in managing and facilitating negotiations to produce and engage leaders of the party. The NWC must sit up and guide the unfolding negotiations. No single power bloc should be allowed to appropriate the process."

Lagos Partners Netherlands on Waste to Wealth Initiative

Segun James

As part of measures to achieve sustainable economic growth, Lagos State government in conjunction with Netherlands and other partners have concluded plans to engage in economic cooperation.

Disclosing this at the state's secretariat yesterday, the Permanent Secretary, Office of Environmental Services, Dr. Mobolaji Gaji, said the programme tagged, Hotspot 2023 (LCEH2023) Circular Economy, was pivotal to accelerate the drive towards a Greater Lagos agenda that would help to open up the state to genuine opportunities and addressing

environmental challenges.

Gaji said the programme with the theme, 'Towards a Circular and Resourceful Economy: The Future Lagos.' is slated for July 26th-27th and will have 400 participants while over 1,000 will join virtually.

Present at the conference were, Chapter Lead, Africa Circular Economy Network Nigeria, Mrs. Kemi Ajakaiye, Country Representative, Africa Economy Network, ALEN, Abayomi Magbagbeola and Member of the African Economy Network, Gboyega Olorunfemi.

According to him, the Circular Economy Hotspot which had previously been hosted in

Netherlands, Luxembourg, Germany, Catalonia Spain, and Dublin, Ireland, was coming to Africa for the first time and Lagos would be there.

Gaji said, "The Circular Economy Hotspot is an initiative of the Kingdom of the Netherlands which is to serve as a platform to foster co-creation and highlight cities and societies transition towards circular economy.

"To demonstrate the government's commitment, a Technical Working Group on Circular Lagos was constituted with the objective of driving the framework and a roadmap for the transition.

“With all these activities and

interactions, the Lagos Circular Economy Hotspot provides us the opportunity to highlight how Lagos State is transitioning towards the circular economy and how our businesses and citizens are co-creating innovation.

"This initiative will also allow us to deepen the conversation as we build on our climate adaptation policy, our 30-year Lagos Development Plan, and the role of each and every stakeholder in building a sustainable city.

"Lagos, as a sub-national in the forefront of creating models for development which other States and cities in Africa emulate, is at it again."

NEWS
35 FRIDAY, JULY 21, 2023 • THISDAY
Chairman of Progressive Governor's Forum cum Governor of Imo State, Sen Hope Uzodimma, surrounded by his colleagues, addresses the media on the outcome of their meeting on how to mitigate the hardship of the people following the removal of fuel subsidy among other issues, Thursday in Abuja

2023 CLIMATE EMERGENCY DAY...

L-R.Coordinator West African, Climate Clock, Nigeria (CCN), Mr. Ibrahim Joseph, Director

and Partnership, CCN, Mr.

Director Global

for

Ogun Flooding: Senate Writes SGF, NEMA, Works Ministry, Seeks Urgent Intervention

Sunday Aborisade in Abuja

The Senate, yesterday, wrote to the Secretary to the Government of the Federation, Senator George Akume, and other federal agencies to urgently intervene in the flooding crisis in Sagamu and other areas of Ogun East Senatorial district.

The letter sent to the affected

agencies by the Clerk to the National Assembly, Mr. Magaji Tambawal, also sought urgent provision of palliatives to victims.

This followed the adoption of the motion moved by Senator Gbenga Daniel, on the flooding issues in Sagamu, Ijebu and other areas in the country.

The motion passed on July

5, was titled: "Urgent need to intervene in the flooding issues in Sagamu, Ijebu Areas of Ogun East Senatorial District."

Daniel had brought the attention of the Senate to the precarious challenge in his constituency and beyond.

After deliberation, the Senate, resolved to urge relevant ministries, departments and

agencies to release funds as provided in 2023 Appropriation Act for dredging of blocked canals and water bodies amongst others.

The Senate also urged the National Emergency Management Agency (NEMA) to send relief materials to affected victims in Sagamu and Ijebu Areas of Ogun East Senatorial

Lady Beaten to Death for Allegedly Picking Money in Club

Police arrest suspects, Anambra govt seals off facility

David-Chyddy Eleke in Awka

A young lady whose name has been given as Miss Chinyere Awuda, has been beaten to death by fun seekers in a club, inside a hotel (name withheld), in Awka, Anambra State.

The lady who hailed from Nnobi, in Idemmili South Local Government Area of Anambra State, was said to have been found dead in the swimming pool of the hotel on Sunday morning, where she was dumped after

being beaten to death.

Sources said the young lady was at the club when trouble broke out, and a man identified as a popular clubber in the facility, who was holding his birthday, with his friends started beating her.

"One of the clubbers accused her of picking money which the fun seekers were spraying on their friend, who was a birthday celebrant.

"Some others said she did not only pick money, but went

for bundles of money, which a clubber stacked by his seat side, waiting to spray on the celebrant," another source said.

Anambra State Police Spokesperson, DSP Tochukwu Ikenga, confirmed the incident and said the birthday celebrant and his friends were already in police custody while the case was being investigated.

"Contrary to what people are saying about the complicity of the hotel, we were assisted by the management to arrest the

suspects. Investigation is still ongoing," he said.

Meanwhile, Anambra State government has sealed off the hotel.

Commissioner for Culture, Tourism and Entertainment, Hon Don Onyeji, disclosed this.

Onyenji, who spoke to THISDAY on phone said, "Yes, we have visited the hotel, and also sealed it off. We are in touch with the police, who are already investigating the matter, and the facility will remain sealed, pending the outcome of police investigation."

A’Court Denies Alleged Resignation of Presidential Tribunal Member, Ugo

Says it’s false, misleading

The Court of Appeal has described as complete falsehood and calculated attempt to mislead the public, report on the purported resignation of a member of the Presidential Election Petition Court (PREPEC), Justice Boloukuoromo Ugo, from the five-member panel hearing petitions against the conduct of the February 25 presidential election.

Chief Registrar of the Court of Appeal, Mr Umar Bangari, who made the clarification, however, appealed to the general public to

ignore the fake news in its entirety. Bangari spoke with newsmen yesterday in Abuja in reaction to the widespread news on the purported resignation of the PREPEC member.

The social media woke up yesterday to the news of the purported resignation of Justice Ugo from the panel heading the petitions against President Bola Tinubu's election, on the grounds of alleged demands “to kneecap democracy”.

The online report stated that, Ugo resigned from the bench, citing demands from the executive branch that he believed would destroy

the country's democracy.

Ugo was said to have issued a statement, wherein he claimed to have said siding with the government on the petitions challenging the election of Tinubu would be the “death of Nigeria's democracy” and that he could not in good conscience remain silent.

According to Ugo's purported statement, he was asked to “cripple the independence of the judiciary” by ruling in favour of a certain political candidate, whom he did not name but was widely believed to be Tinubu.

In addition to this, he reportedly

claimed to have been asked to suppress evidence and dismiss cases that could have an impact on the election.

But, the Chief Registrar of the Court of Appeal, said there was no iota of truth in the news, saying Ugo was still on the panel of justices of the court handling the petitions by the Allied Peoples Movement (APM), Labour Party (LP) and the Peoples Democratic Party (PDP). Bangari, while faulting the report said neither his office nor the information department of the court was contacted before dishing out what he called false report.

District.

The communication by the Clerk of the National Assembly

has now written the relevant federal agencies to facilitate the Senate resolution promptly.

TINUBU APPROVES INFRASTRUCTURE

SUPPORT FUND FOR 36 STATES TO CUSHION EFFECTS OF SUBSIDY REMOVAL

public servants a certain prescribed amount of cash on a monthly basis and was prescribed that that should be implemented for six months, in the first instance.

"You’ll be wondering why six months. The idea is that as much as we’re also particular about ameliorating the pains of our people immediately, a lot of sustainable measures are being put in place and it's our hope that within now and the next six months, those sustainable measures would have begun to be visible and then we can begin to taper down these cash awards. These cash awards, by the way, would be funds that will be placed in the hands of civil servants that will be tax-exempt."

Contributing, also, the acting Governor of Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi, said the Federal Inland Revenue Service (FIRS) briefed the council and announced that it was ahead of its half-year target.

According to him, "Chairman of the Federal Inland Revenue making a presentation on what they have done so far, the level of collections. It was nice to know that they are ahead of their target for half year. And we expect that before or by the time the year ends they would exceed.

"They also gave us some idea of what next year should be like from them. And from this year, we hope to make some N10 trillion. The plan is that next year, they should be able, working with all the agencies, to provide N25 trillion as their contribution to the national coffers."

Meanwhile, FIRS yesterday announced that it generated a total of N5.79 trillion in tax revenues for the half-year period of the year. This was disclosed by Executive Chairman, FIRS, Mr. Muhammad Nami, who stated that the figure represented the highest tax revenue collection ever recorded by the service in the first six months of a fiscal year.

The service had set a self-target of at least N12 trillion in tax revenue for 2023 after surpassing the N10 trillion target for 2022 by N100 billion.

According to a statement, Nami, who spoke while presenting the 20232024 tax revenue outlook to NEC, noted that the performance surpassed the N5.3 trillion mid-year target.

The report indicated that tax revenue from the oil sector between January and June 2023 stood at N2.03 trillion, as against a target of N2.3 trillion while non-oil tax collection stood at N3.76 trillion compared to its N2.98 trillion target.

Nami, in his presentation to NEC, further stated that the service collected a total of N1.65 trillion in tax revenues in June – the highest collection by the service in a single month.

He attributed the impressive performance to improved voluntary tax compliance enabled by the automation of FIRS’ tax administrative processes.

He said, “This is a good head start as we work towards meeting our target for the year. And it was achieved despite stubborn headwinds, such as the impact of the currency redesign and 2023 general elections on the economy in the first and second quarters of 2023.

“This half-year performance was achieved as a result of improved voluntary tax compliance by taxpayers, the continued improvement of automation of our tax administration processes, including the updated VAT filing processes, as well as our dogged engagement with stakeholders in both the formal and informal sectors of the economy.”

On the outlook for the remaining half of the year, the FIRS chairman gave assurances that the country should expect “better days ahead” in terms of tax revenue collection.

In the statement issued by his Special Assistant on Media and Communication, Mr. Johannes Oluwatobi Wojuola, Nami was quoted to have added, “We believe that the performance in the second half of the year would be better considering the continuing improvement to our tax administration processes and positive impact of current government’s policies on the economy.”

Alex Enumah in Abuja Project Chuks Anyaduba; Executive Initiative Food Security and Ecosystem Preservation (GIFSEP), Mr. Michael David and Executive Director, Nature's Survivours, Tokoni Ngeribiku, during a Press Conference on Climate Emergency Day in Abuja... yesterday ENOCK REUBEN
NEWS 36 FRIDAY, JULY 21, 2023 • THISDAY

GIG WORLD PUBLIC RELATIONS DAY…

L-R:Africa’s Premier Coach, Dr. Lanre Olusola; Managing Director of CMC Connect, Yomi Badejo-Okusanya, and Event Convener/Managing Partner of GLG Communications, Omawumi Ogbe, during the GLG World Public Relations(PR) Day cocktail event where Badejo-Okusanya received the prestigious PR Icon Award in Lagos…recently

Katsina CSOs Urge FG to Reverse Fuel Price Hike

Francis Sardauna in Katsina

The coalition of Civil Society Organisations (CSOs) in Katsina State has condemned the increase of fuel price from N540 to N617 by the Nigerian National Petroleum Corporation Limited (NNPCL).

The state Chairman of the coalition, Mr. Abdulrahman Abdullahi, denounced what he termed as a sudden price increase of the product in a message sent to THISDAY yesterday.

NNPCL last Tuesday announced an increase in

Ekiti Assembly Ready to Partner NDE on Job Creation, Says Speaker

Ekiti

The Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Stephen Aribasoye, has urged students, youths, and school leavers to empower themselves with skills in order to become job creators rather than job seekers.

Apparently, concerned with the alarming rate of unemployment in the country, the Speaker identified skills acquisition as a remedy to unemployment, poverty and means to positively contribute to the grassroots economy.

He made the remarks when he received in audience the management of the Ekiti State Office of the National Directorate of Employment (NDE) led by the state Coordinator, Mr. Hakeem Olugbenga Sanusi, that was on an advocacy visit to the Assembly Complex.

Aribasoye, who unfolded the readiness of the Assembly to partner NDE in taking many indigent citizens in all the 26 state constituencies out of unemployment, stressed that the Assembly offers the best platform to reach out to the people at the grassroots to tackle the scourge.

Strange Disease Kills Five in Kaduna

John Shiklam in Kaduna

Five children have reportedly died in Kafanchan, headquarters of Jama’a Local Government Area of Kaduna State, following the outbreak of a ‘strange disease’.

The victims were said to have suffered from pains around their necks after which they died within 24 hours as they were unable to eat.

They were said to be aged 2, 3, 4 and 13 years.

The Chairman of Jama’a LGA, Yunana Barde, did not respond to telephone calls and a text message sent to him when contacted.

Spokesman to the state Governor, Uba Sani, Mohammed Shehu, did not also respond to telephone calls when contacted, as he was said to be at a meeting.

However, the Public Relations Officer (PRO) of the state Ministry of Health, Kate Edim, said the ministry received information about the incident.

Speaking in a telephone interview, Edim said a team from the ministry had been sent to Kafanchan for investigation.

She said: “The ministry had sent a team to Kafanchan yesterday (Wednesday) to take samples. We are still awaiting the results.

Heritage Energy Empowers Indigenes of Host Communities in Delta

The Management of Heritage Energy Operational Services Limited (HEOSL), operators of the OML 30 Joint Venture Partners recently presented starter packs to 63 trained women and youths drawn from the Owhe Cluster 8 in Isoko North Local Government Area of Delta State.

Speaking at the presentation ceremony in Otor-Owhe, the General Manager, Government, Joint Venture and External Relations, Heritage Energy Operational Services Limited, Mr. Adesola Adebawo, stated that the training programme and presentation of starter packs were part of

the pump price of petrol nationwide from N537 per litre to N617.

The oil firm claimed that market forces were responsible

for the increase in the pump price of petrol. But Abdullahi, in the message, described the NNPCL’s decision as the

highest level of insensitivity to the plight of Nigerian citizens, especially the downtrodden. He said the increase in petroleum price would trigger

hardship faced by Nigerians and make youths more vulnerable to recruitment into banditry and other nefarious activities.

Retired Judge, Justice Taiwo Taiwo, Harps on Rule of Law

A former Judge of the Federal High Court, Abuja, Justice Taiwo Taiwo has said that Nigeria will be a better place if we put the rule of law in the forefront of our affairs and accept law and order as a prerequisite.

He made this call at the Special Day of Tribute in honour of late Lt.

General Donaldson Oladipupo Diya and the unveiling of the Odogbolu Lawyers’ Forum which took place in Odogbolu, Ogun state. He said, “All Nigerians matter regardless of the place of his birth.”

The Justice harped on the need for rule of law to be taken seriously. His words:”We can see that

the rule of law is very wide and if its principles are well articulated and put to practice, there will be economic development, positive moral development, unity rather than ethnic rivalry and growth in our country.

“The task of ensuring that the rule of law is strictly observed

should be the main concern of all stakeholders in the states and communities.

“Infraction of the law is not healthy in a democratic set up. Law must not be nakedly seen to be broken. The impunity at which the government and the governed break the law these days is alarming.

Fubara, Police, Others Partner to Secure Rivers People

Blessing Ibunge inPortHarcourt

Rivers State Governor, Mr Siminalayi Fubara, has sealed partnership with the Nigerian Police Force (NPF) to ensure the security of lives and properties of Rivers people.

Fubara disclosed this yesterday,

when he received the Assistant Inspector General of Police (AIG) in charge of Zone 16, Mr Ben Okolo in Port Harcourt. The Rivers State governor who assured the people that his administration will partner with the police and other security agencies, said sustaining meaningful

development in the state can only take place when there is adequate peace and security.

He, however, solicited the agencies’ support in securing the lives and properties of citizens of the state, adding that vehicles and other logistical support will be provided for the security agencies

to carry out their work effectively. “We will continue to work in synergy with all security agencies in our state, to provide security as it is our priority to secure lives and property of citizens. We are already working out some logistics to ensure your effective operation,” Fubara assured.

Kogi SDP Senatorial Candidate Joins APC, Declares Support for Ododo

Ibrahim Oyewale in Lokoja

The Social Democratic Party (SDP) senatorial candidate for Kogi West in the 2023 general election and former House of Assembly member, Abdulrahman Tanko Ozi, has joined the All Progressives

Congress (APC); collapsed his structures, and moved his loyalists in Kogi West to the APC.

Ozi, who was the minority leader in the Kogi State House of Assembly from 2007 to 2011 representing Kogi Koton Karfe state constituency, said he was collapsing his entire SDP

structure in the Kogi West to support the governorship candidate of the APC, Usman Ododo.

The lawmaker and legal practitioner said having analysed all the candidates of the various political parties, including the SDP, he had come to the

conclusion that Ododo has the required competence and will to govern the state and truly build on the achievements of the state Governor, Yahaya Bello. He lauded Governor Bello for providing purposeful leadership and unprecedented infrastructure in the state.

Commissioners: Ijaws in Warri North Vow to Resist Oborevwori

Omon-Julius Onabu inAsaba

Ijaw people of Warri North Local Government Area have expressed dismay about their exclusion from the list of nominees presented by Governor Sheriff Oborevwori to the Delta State House of Assembly on

Wednesday for consideration and confirmation as Commissioners and members of the State Executive Council.

The Egbema Ijaw, who form the two main ethnic groups in Delta North alongside the Itsekiri, said it amounted to barefaced injustice

against them for the governor not to have included an Ijaw in his list of nominees but instead settled for two Itsekiri for the two slots given to the local government area.

A statement, signed on behalf of leaders of the Egbema Integrity Group (EIG) by Barrister Francis

Abulu, and made available to THISDAY in Asaba yesterday, said that a similar scenario has played out regarding representation in the Delta State House of Assembly since the creation of the state in 1991, whereby no Egbema Ijaw has been allowed to represent the area as a lawmaker.

Eno to Send Executive Bill to Ensure Council Chairmen Reside in their Domains

Okon Bassey in Uyo

Corporate Social Responsibility(CSR) projects supported by the company as part of the Global Memorandum of Understanding (MoU) initiatives across OML 30 host communities in general and cluster 8 in particular. Adebawo, who was represented by Manager Community and Government Relations, Akpomujere Edesiri, said that the persons who benefited from the training programme were selected from OtorOwhe, Edhomoko, Emevor,Akiewhe, Erawha and Iyede communities in Isoko North Local Government Area of Delta State respectively.

Chairmen of local government area councils in Akwa Ibom State have been directed to henceforth live within their areas of jurisdiction for the effective delivery of their mandate.

The state Governor, Mr. Umo Eno, gave the directive when

The newly appointed Osun State Commissioner for Cooperatives and Empowerment, Bayo Ogungbangbe, has assured residents of the state of his preparedness to instigate accelerated development in the ministry with a view to

he swore in two new chairmen and vice chairmen for Nsit Ibom and Urue Offong/Oruko Local Government Areas at the Banquet Hall in the Government House, Uyo.

To ensure the council chairmen abide by the directive, the governor stated that an Executive Bill would be sent to the state

reinventing the age-long vision of the cooperative sector as a tool to stimulate grassroots joint effort financial engineering.

Ogungbangbe made the pledge in a statement issued yesterday to express gratitude to the state Governor, Senator Ademola Adeleke, over his appointment,

House of Assembly for legislative backing on the decision.

He said living within their jurisdiction would be a prerequisite for occupying the office of a chairman of a council area in the state.

As chief security officers and champions of rural development in their respective areas, the

describing the role assigned to him as a pleasant challenge to improve the micro-financial index of the state. Cooperative, according to the commissioner, was invented to invigorate micro-enterprises with people of identical business set skills, forming partnerships under government approval and support to

governor argued that the council chairmen have no justification to stay farther from their people. Eno sited his case where he relocated from Eket Local Government Area to Uyo, the state capital, on the assumption of office to enable him to function effectively in his new office.

achieve their target economic goals.

He said: “This, the Ministry of Cooperative and Empowerment will beam a lot of focus to stimulate grassroots purchasing power and for which the state economy base will be further strengthened in line with the lofty plans of the state governor.

FRIDAY JULY 21, 2023 THISDAY 37 NEWS
Osun Commissioner, Ogungbangbe, to Revamp Cooperative Sector for Grassroots Devt
Gbenga Sodeinde in Ado

Benue Discovers Padding of Wage Bill, 2,500 Ghost Workers

The Benue State Governor, Rev. Fr. Hyacinth Alia, has disclosed that verification carried out by the state government has revealed that the state’s wage bill was heavily padded by the previous government.

Alia also added that 2500 ghost workers were discovered on the payroll.

The governor, in a press release that was by his Media Aide, Mr. Tersoo Kula, expressed regrets over the delay in payment of salaries of teachers in primary and secondary

schools, as well as the local government’s staff. He said: “The decision for the delay in the payment of salaries of the above mentioned workers was taken after we discovered mindless padding of the wage bill, and other fraudulent manipulations on their payroll.”

He said that the decision became necessary after the discovery, to enable the government to sanitise and cleanse the payroll; to ascertain the true wage bill of the state and to know the genuine workers that are worth their wages.

WORLD OF ISLA M

He revealed that the first phase of an extensive staff verification and payroll audit for all teachers and local government staff has just been concluded, and it has already uncovered over 2500 ghost workers that have already been removed from the payroll.

He identified ghost workers, ghost schools, double dipping, unlawful employment, salary padding, and payments to dead or retired individuals, unlawful replacement and inflation of the wage bill as some of the payroll infractions that were discovered from the audit.

Makinde Eulogises late PDP Vice Chair, Adagunodo

Governor of Oyo State, ‘Seyi Makinde, yesterday eulogised the late National Vice Chairman (South-west) of the Peoples Democratic Party (PDP), Hon. Olasoji Adagunodo Oluwatukesi, describing him as a stabiliser, who worked hard for the progress of the party at the state and the national levels.

Makinde stated this at the Commendation Service organised in honour of the late politician in Ibadan.

He stated that Adagunodo, who passed away in May, aged 62, contributed immensely to the growth of the PDP in Osun State, the South-West and nationally and that he deserved the honour being done to him.

The governor added that he would immortalise Adagunodo by building a PDP South-west

CHANGE OF NAME

I formerly known and addressed as ARO ABIODUN FOLASHADE now wish to be known as and addressed as ADEGBOYE SEKINAT OMOTAYO. All former documents remains valid. the General public should please take note.

I formerly known and addressed as OBANLEOWO ADEWALE MICHEAL now wish to be known as and addressed as OBANLEOWO OLAWALE MICHEAL. All former documents remains valid. the General public should please take note.

I formerly known and addressed as MISS OTOKITI OMOBOLANLE CELINA now wish to be known as and addressed as MRS OMOBOLANLE CELINA BAMIDELE -ABEGUNDE. All former documents remains valid. the General public should please take note.

I formerly known and addressed as ADOLPHUS MOSES ONYEDI now wish to be known as and addressed as OKORIE MOSES ONYEDI. All former documents remains valid. The general public should please take note.

I formerly known and addressed as OLUWATOSIN MARY ABEGUNDE now wish to be known as and addressed as OLUWATOSIN MARY ADEBISI. All former documents remains valid. The general public should please take note.

I formerly known and addressed as EMMANUEL ODESILO and also known as AKINTUNDE OLUMUYIWA ODESILO and EMMANUEL OLUMUYIWA ODESILO now wish to be known and addressed as AKINTUNDE EMMANUEL ODESILO. All former documents remains valid. The general public should please take note.

I formerly known and addressed as MISS. AMINAT OYIZA BELLO now wish to be known as and addressed as MRS NASIRU SIDIKATU OYIZA. All former documents remains valid. The general public should please take note.

Muharram: The Start of the Islamic Calendar

Muhammad TaqiUsmani/IslamiCity

Muharram is the month with which the Muslims begin their lunar Hijrah Calendar. It is one of the four sanctified months about which the Holy Quran says, “The number of the months according to Allah is twelve months (mentioned) in the Book of Allah on the day in which He created heavens and the earth. Among these (twelve months) there are four sanctified” (Q9v.36).

These four months, according to the authentic traditions are the months of Zulqadah, Zulhijjah, Muharram and Rajab. All the commentators of the Holy Quran are unanimous on this point, because the Holy Prophet (pbuh) in his sermon on the occasion of his last Hajj, has declared:

Zonal Office that will be named Honourable Soji Adagunodo House and handed over to the party in his remembrance.

At the service attended by top party chieftains including acting National Chairman of PDP, Ilya Umar Damagum, members of

the National Working Committee, former governors and deputy governors, among others, Makinde said: “We are here to honour my friend and our brother, the former National Vice Chairman (South-West) of the PDP, Hon. Soji Clement Adagunodo.

Inferno Razes Shops at Kano Popular Market

The Kano State Fire Service (KSFS) has said that more than 10 shops were destroyed by inferno at the popular Rimi Market in the metropolis.

The Spokesman of the KSFS, Mr. Saminu Abdullahi, who confirmed the incident in a press statement, said that the fire incident occurred at about 8.40 p.m. on Wednesday after the market had been closed.

According to Abdullahi, there were no injuries or deaths recorded during the inferno but some permanent and temporary shops were razed down by the fire.

He said: “The fire incident

occurred at about 8.40 p.m. on Wednesday. We received a distress call from one Magaji Umar that there was a fire outbreak at the market where they sell mattresses, beds, and carpentry materials.

“On receiving the information, we quickly sent some of our personnel and fire-fighting vehicle to the scene at about 8.49 p.m. to quench the fire.”

He explained that apart from the six permanent and four temporary shops that were completely razed, one public convenience was slightly burnt.

He attributed the cause of the fire to an electric spark from an improvised structure, which he said, is currently under investigation.

FG to Close Alaka-Costain - Iganmu Section of Eko Bridge for 40 Days

The Federal Ministry of Works & Housing in collaboration with Lagos state Government has announced a temporary closure of the Alaka-Costain - Iganmu section of the Eko Bridge (inward Island) for another 40 days from Sunday 23rd July, 2023.

A statement issued yesterday by the Federal Controller of Works, Lagos Engr. (Mrs.) O.I. Kesha, on behalf of the Permanent Secretary, said the closure is “as a result of the damage noticed on some of the bridge members which needed to be urgently worked upon. It should be noted that any further delay in the repairs and replacement of some

of these bridge members could undermine the integrity and structural stability of the entire bridge and the consequence of this can be better imagined.

“It should, however, be noted that the Lagos State Governor, His Excellency, Mr. Babajide Sanwo-Olu and the Federal Controller Of Works, Mrs Olukorede Kesha during the opening of the Apongbon section of the Bridge announced that intermittent closures will be carried out as the maintenance work progresses.

“This closure is to allow the contractor, Messrs Buildwell Plants & Equipment Ind. Ltd carry out the necessary repairs with the aim of restoring the integrity of the bridge during the stipulated time frame.”

Anthony Ukadike Enunwa Passes On At 76

The death has been announced of Mr. Anthony Ukadike Enunwa. He was aged 76.

Born on 12 January 1947, Enunwa was a Partner with Coopers & Lybrand (C&L) Nigeria from 1976 to 1998. He led the merger for C&L with Price Waterhouse to form PricewaterhouseCoopers Nigeria (PwC) and served as Partner-incharge of Consumer and Industrial Products Services Practice for the

“One year consists of twelve months, of which four are sanctified months, three of them are in sequence; Zulqadah, Zulhijjah, Muharram, and the fourth is Rajab.”

The specific mention of these four months does not mean that any other month has no sanctity, because the month of Ramadan is admittedly the most sanctified month in the year. But these four months were specifically termed as sanctified months for the simple reason that their sanctity was accepted even by the pagans of Makkah.

In fact, every month, out of the twelve, is originally equal to the other, and there is no inherent sanctity, which may be attributed to one of them in comparison to other months. When Allah Almighty chooses a particular time for His special blessings, then it acquires sanctity out of His grace.

Thus, the sanctity of these four months was recognized right from the days of Sayyidina Ibrahim. Since the Pagans of Makkah attributed themselves to Sayyidina Ibrahim they observed the sanctity of these four months and despite their frequent tribal battles, they held it unlawful to fight in these months.

In the Shariah of our Holy Prophet (pbuh) the sanctity of these months was upheld and the Holy Quran referred to them as the “sanctified months”.

The month of Muharram has certain other characteristics peculiar to it, which are specified below.

Fasting during the month

The Holy Prophet (pbuh) has said:

“The best fasts after the fasts of Ramadan are those of the month of Muharram.”

Although the fasts of the month of Muharram are not obligatory, yet the one who fasts in these days out of his own will and choice is entitled to a great reward by Allah Almighty. The Hadith cited above signifies that the fasts of the month of Muharram are most reward-able ones among the Nafl fasts i.e., the fasts one observes out of his own choice without being obligatory on him.

The Hadith does not mean that the award promised for fasts of Muharram can be achieved only by fasting for the whole month. On the contrary, each fast during this month has merit. Therefore, one should avail of this opportunity as much as we can.

The day of Ashurah

Although the month of Muharram is a sanctified month, yet the 10th day of Muharram is the most sacred among all its days. The day is named Ashurah.

According to the Holy companion Ibn Abbas. The Holy Prophet (pbuh), when migrated to Madinah, found that the Jews of Madinah used to fast on the 10th day of Muharram. They said that it was the day on which the Holy Prophet Musa (Moses) and his followers crossed the Red Sea miraculously and the Pharaoh was drowned in its water.

On hearing this from the Jews, the Holy Prophet (pbuh) said, “We are more closely related to Musa than you” and directed the Muslims to fast on the day of Ashurah. (Abu Dawood)

It is also reported in a number of authentic traditions that in the beginning, fasting on the day of Ashurah was obligatory for the Muslims.

It was later that the fasts of Ramadan were made obligatory and the fast on the day of ‘’Ashurah was made optional. Sayyidah Aishah has said:

Audit and Assurancebusiness of PwC Nigeria until he retired in 2003.

He was a model professional who had enormous impact on the accounting profession in Nigeria right from his time as a lecturer at the University of Lagos throughout his career with C&L and PwC. He was a Fellow (FCA) of the Institute of Chartered Accountants of Nigeria (ICAN) and served the institute in several capacities during his active years.

“When the Holy Prophet (pbuh) came to Madinah, he fasted on the day of Ashurah and directed the people to fast it. But when the fasts of Ramadan were made obligatory, the obligation of fasting was confined to Ramadan and the obligatory nature of the fast of Ashurah was abandoned. One can fast on this day, if he so wills, or can avoid fasting, if he so wills.”

However, the Holy Prophet (pbuh) used to fast on the day of Ashurah even after the fasting in Ramadan was made obligatory.

Abdullah bin Masud reports that the Holy Prophet (pbuh) preferred the fast of Ashurah to the fast of other days and preferred the fast of Ramadhan to the fast of Ashurahh. (Bukhari and Muslim)

In short, it is established through a number of authentic hadith that fasting on the day of Ashurah is Sunnah of the Holy Prophet (pbuh) and makes one entitled to a great reward.

According to another Hadith, it is more advisable that the fast of Ashurah should either be prefixed or suffixed by another fast. It means that one should fast two days: the 9th and 10th of Muharram or the 10th and 11th of it. The reason of this additional fas as mentioned by the Holy Prophet is that the Jews used to fast on the day of Ashurah alone, and the Holy Prophet wanted to distinguish the Islamic way of fasting from that of Jews. Therefore, he advised the Muslims to add another fast to that of Ashurah

Some traditions signify another feature of the day of Ashurah.

According to these traditions one should be more generous to his family by providing more food to them on this day as compared to other days. These traditions are not very authentic according to the science of Hadith. Yet, some Scholars like Baihaq and Ibn Hibban have accepted them as reliable.

What is mentioned above is all that is supported through authentic sources about Ashurah.

However, there are some legends and misconceptions about Ashurah that have managed to find their way into the minds of the ignorant, but have no suppor of authentic Islamic sources, some very common o them are these:

This is the day in which Adam was created.

This is the day in which Ibrahim was born.

This is the day in which Allah accepted the repentance of Sayyidina Ibrahim.

This is the day on which the Qiyamah (doomsday will take place.

Whoever takes bath in the day of Ashurah wil never get ill.

All these and other similar whims and fancies are totally baseless, and the traditions referred to in this respect are not worthy of any credit.

Some people take it as Sunnah to prepare a particula type of meal in the day of Ashurah. This practice too, has no basis in the authentic Islamic sources.

Some other people attribute the sanctity of Ashurah to the martyrdom of Sayyidina Husain during his battle with the Syrian army. No doubt, the martyrdom o Sayyidina Husain is one of the most tragic episodes of our history. Yet, the sanctity of Ashurah canno be ascribed to this event for the simple reason tha the sanctity of ‘Ashurah was established during the days of the Holy Prophet (pbuh) much earlier than the birth of Sayyidna Husain.

On the contrary, it is one of the merits of Sayyidna Husain that his martyrdom took place on the day of Ashurah.

Another misconception about the month o Muharram is that it is an evil or unlucky month for Sayyidna Husain was killed in it. It is for this misconception that people avoid holding marriage ceremonies in the month of Muharram. This is again a baseless concept which is contrary to the express teachings of the Holy Quran and the Sunnah. Such superstitions have been totally negated by the Holy Prophet (pbuh). If the death of an eminent person in a particular day renders that day unlucky for all times to come, one can hardly find a day, free from this bad luck, out of 365 days of the whole year, because each day has a history of the demise of some eminent person. The Holy Quran and the Sunnah of the Holy Prophet (pbuh) have made us free from such superstitious beliefs, and they should deserve no attention.

Another wrong practice related to this month is to hold the lamentation and mourning ceremonies in the memory of martyrdom of Sayyidna Husain

As mentioned earlier, the event of Karbala is one of the most tragic events of our history, but the Holy Prophet (pbuh) has forbidden us from holding the mourning ceremonies on the death of any person The people of Jahiliyyah (Ignorance) used to mourn over their deceased relatives or friends through loud lamentations, by tearing their clothes and by beating their cheeks and chests. The Holy Prophet (pbuh stopped the Muslims from doing all this and directed them to observe patience by saying “Inna lillaah wa innaa ilayhi raaji oon”. A number of authentic hadith are available on the subject.

To quote only one of them:

“He is not from our group who slaps his cheeks tears his clothes and cries in the manner of the people of jahiliyyah.”

All the authentic jurists are unanimous on the point that the mourning of this type is absolutely impermissible. Even Sayyidna Husain shortly before his demise, had advised his beloved sister Sayyidah Zainab not to mourn over his death in this manner He said:

“My dear sister, I swear upon you that you, in case I die, shall not tear your clothes, nor scratch your face nor curse anyone for me or pray for your death”

It is evident from this advice of Sayyidna Husain that this type of mourning is condemned even by the blessed person for the memory of whom these mourning ceremonies are held. Every Muslim should avoid this practice and abide by the teachings of the Holy Prophet (pbuh) and his beloved grandchild Sayyidina Husain.

FRIDAY JULY 21, 2023 THISDAY 38
NEWS XTRA

No Motion as Eagles Retain 39th Spot in July FIFA Ranking

Femi Solaja with agency report

With no activity in the last one-month, Nigeria’s Super Eagles retained their 39th position in the July FIFA Men’s world ranking released on Thursday.

After a period of free fall, Eagles moved up to 39th last month following the 3-2 away win against Sierra Leone

in Liberia. It was a Match-day five win in the on-going AFCON 2023 qualifiers.

Eagles similarly retained their sixth spot in the CAF standings behind Morocco (1st), Senegal (2nd), Tunisia (3rd), Algeria (4th) and Egypt (5th).

Nigeria’s highest ranking since the introduction of the FIFA ranking

Awoniyi Joins Forest’s Pre-season Camp in Spain

buoyed by the arrival of Taiwo Awoniyi to their pre-season training camp in Spain. The striker has joined the rest of his teammates ahead of Saturday’s friendly against Levante.

Forest travelled to Spain minus their talismanic goalscorer. He had waited for his Schengen visa to be issued. Steve Cooper said after Tuesday’s game that he hoped it would be resolved.

Now, Awoniyi is back in training with his Forest teammates. He will provide a welcome boost to Cooper’s touring party, with Hwang Ui-jo the only senior striker currently in Spain.

Awoniyi enjoyed a wonderful maiden campaign at the City Ground. He finished as the team’s top goalscorer with 11 goals in all competitions following a blistering

The 25-year-old made the move to Forest from Union Berlin in the summer of 2022 and cost the club £17 million.

He proved a very useful player on the pitch and a very good character inside the dressing room.

Awoniyi will now be glad that his passport situation has been rectified. He can now get down to some hard work in Spain and he should get the chance to play against Levante on Saturday.

With Forest yet to sign any players, it’s important that Cooper has as many of last year’s team available as possible and Awoniyi is a very important player. Hopefully, the Reds can kick on next season.

The Reds finished 16th in 2022/23 and it will be pretty tricky to build on that when the Premier League season gets underway again.

Elegbeleye Heads Nigeria Premier League Board

The Nigeria Football Federation ((NFF), has constituted the board of the Nigeria Premier Football League (NPFL) with former chairman of the Interim Management Committee (IMC), Hon. Gbenga Elegbeleye, as chairman of the board. Elegbeleye, a former deputy chairman of the House of Representatives’ Committee on Youth and Sports, and also a former Director-General of the National Sports Commission, headed the IMC that brilliantly executed the last NPFL season and and the Super 6, drawing high praise from the NFF and stakeholders in general.

With Elegbeleye on the new

NPFL board are Mallam Mohammed Nasiru Sa’idu (Member); Barr. Poubeni Ogun (Member); Mr. Daniel Amokachi (Member); Dr. Okey Kpalukwu (Member); Mallam Suleiman Umar (Member) and; Mr. Dominic Iorfa (Member).

The Secretary/Legal Adviser is Barr. Danlami Ibrahim while the Chief Operating Officer is Prince Davidson Owumi.

The new NPFL board has a twoyear tenure, same as the boards of the Nigeria National League, the Nigeria Women Football League and the Nigeria Nation-Wide League One that were inaugurated on Monday.

Fernandes Named Man Utd Captain

Manchester United have confirmed Bruno Fernandes as the new club captain heading into the 2023/24 season.

Harry Maguire was recently stripped of the captain's armband after falling down the pecking order under Erik ten Hag - making just eight Premier League starts last season - and has now been replaced in the role by Fernandes.

A club statement announcing the news reads: "Bruno Fernandes has been named as the new club captain of Manchester United.

"The Portuguese midfielder has already worn the armband for United on numerous occasions and Erik ten Hag has confirmed that he will now lead the team on

was in 1994 when Eagles rose to 5th. That position is also the highest ever by any team from Africa.

Meanwhile, World Cup champions, Argentina remain number one in the global ranking, nearly four months on from regaining top

spot, thanks to friendly wins over Australia and Indonesia.

France and Brazil maintained second and third spots, respectively, in the July ranking while England and Belgium are fourth and fifth. FIFA arrived at the current

ratings with a total of 62 matches played since the last edition World Ranking in June, with 25 of those games taking place in the final competition of the CONCACAF Gold Cup.

The other 37 matches were played

in the SAFF Cup (AFC) and COSAFA Cup (CAF), two tournaments that are considered friendly competitions for the purposes of the FIFA ranking.

The next FIFA/Coca-Cola World Ranking will be published on 21 September 2023.

Pinnick Represents Infantino as Australia Defeat Ireland in Sydney

FIFA Council Member, Nigeria’s Amaju Melvin Pinnick was all smiles performing the rare duty of representing President of the Football governing body, Gianni Infantino as Australia played Republic of Ireland in the opening game of Group B of the 2023 women’s World Cup in Sydney.

WOMEN’S WORLD CUP

their team to the if first victory of this edition.

“Truly, Gianni (Infantino) has changed the face of global football. For the first time, 32 nations including defending world champions the

United States are participating in this edition.

“In the words of my President, the future (of football) is women. Thanks to the fans for supporting what will be the greatest FIFA Women's World

Cup

It is the first

While thanking God for the smooth beginning of the tournament, Pinnick hinted that “a little above 75,000 fans watched the game in the same stadium that hosted the Sydney Olympics 23 years ago.”

a permanent basis. "Fernandes has scored 64 goals and contributed 54 assists in just 185 games for the club since joining in 2020.

"As captain, the two-time Sir Matt Busby Player of the Year will continue to drive the highest standards throughout the squad as United push for success in the 2023/24 season and beyond."

The Portugal international was the obvious choice for the role having worn the armband for a large bulk of the 2022/23 season while Maguire was out of favour. Fernandes will skipper the side for the first time as the permanent club captain in Man Utd's upcoming clash with Arsenal in New Jersey on 22 July.

In a chat with THISDAY shortly after the game which the co-host nation won by the same 1-0 margin as the the opening game of the tournament between New Zealand and Norway, the former president of the NFF, PInnick, described the privilege as awesome.

“It was a rare privilege to be seated in the halfway line ( representing my boss, Gianni Infantino, the FIFA President)as co-host - Australia defeated Ireland in a very intense and exciting opening game in the ongoing FIFA Women’s World Cup in Australia/New Zealand,” began the FIFA executive committee member.

Pinnick admitted that with the quality of the two matches played on the opening day of the tournament, “We are sure to see more shocks and quality matches from the other teams.”

The FIFA chief was in company with the Prime Minister of Australia, Mr Anthony Norman Albanese in the VVIP as Australians cheered

FRIDAYSPORTS Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
FRIDAY, JU THISDAY 39
Taiwo Awoniyi...has joined Nottingham Forest’s pre-season camp in Spain after delay caused by issuance of Schengen visa to the Nigerian international R-L: Prime Minister of Australia, Mr Anthony Norman Albanese; FIFA Council Member, Amaju Melvin Pinnick and and unnamed Republic of Ireland FA official at the opening game of Group B of the FIFA Women’s World Cup which kicked off in Sydney, Australia...early hours of Thursday. ever. Women's World Cup with two co-hosts,” observed Pinnick. 3-2 away win Sierra Leone the introduction of the FIFA Nottingham Forest t h have been buoyedbythearrivalofTaiwo g May that saw him score six times. The25yearoldmadethemove y

House to Service Chiefs

““We urge you to effectively collaborate with sister security agencies to ensure that all security threats are completely neutralised, and Nigerians can live peacefully. While the House will continue to support this vision through our legislative activities, we shall also embark on rigorous oversight exercises to ensure that the Armed Forces of Nigeria adhere strictly to the provisions of all Appropriation Acts...” –Chairman, Ad hoc Committee to Screen the Service Chiefs, Hon. Babajimi Benson, tasking the new Service Chiefs.

AKIN OSUNTOKUN

DIALOGUE WITH NIGERIA

akinosuntokun@thisdaylive.com

The 2023 Presidential Election: Departure Points

1) Game of numbers

Playing fast and loose with numbers, elections in Nigeria are a derivative of fraudulent population figures and the abuse of the majoritarian principle of democracy. The fraud of the Nigerian population yields the fraud of Nigerian elections and many other sanctified scams. It is a syndrome in which the utility of population figures in Nigeria boils down to accessing consumption but seldom rationally engaged as a facility for planning, growth and development. It is employed to enable and rationalise power politics and who gets the bigger pie of the so called national cake. It has been used to freeze power politics relations in Nigeria at the level it was handed down by the manipulation of the British colonialists. It is the basis for the creation and sustenance of the following consumption sub revenue allocation heads: Wards, local governments, federal constituencies and states. It necessarily yields the mentality of fraud pervading a most consequential agency like INEC. What is the use of fictitious population figures if not its utility to work towards predetermined answers. What is misinterpreted as voter apathy was a mere reflection of the true numbers of registered voters as against the register produced by INEC. At the national level, the authentic numbers of voters are nowhere near the cooked up 89 million registered ghost voters. It is counterintuitive to believe that Nigeria will uniformly record massive gaps between registered voters and accredited voters across the nation- with no single outlier.

2) Federalism

Nigeria, ponders the pundit, is structurally rigged against rationality. This irrationality, first and foremost, is rooted in the ‘mistake of 1914’. The mistake comprises the contraindications of fundamental internal contradictions that did not recommend the amalgamation. Regardless, the fate of a failed Nigeria is not thereby sealed, but only if the inheritors, did not stray from the foundational policy prescription of federalism as the organising principle. With federalism as enshrined in the 1960 constitution and as practised up to 1966, there would be no need to engage in a Russian roulette game to win the presidential election at all costs. It is the sustained subversion of federalism into the monstrous centralisation of power at Abuja that is responsible for the life and death desperation to win the presidential election. With a federalism compliant decentralisation and devolution of powers, there would really be no need to be force fed with the broth of North/ South power rotation, especially in its Muhammadu Buhari heralded perversion as institutionalised turn by turn plundering of Nigerian resources.

3) BVAS and IReV

Ironically, the newly introduced Bimodal Voter Accreditation System, BVAS, was both the hero and (the INEC proxy) villain of the elections. It foiled the time tested

avenue of rigging elections through the inflation of figures beyond the numbers of duly accredited voters.The rigging that took place occurred within the constraint of the captured accurate numbers of accredited voters-such as deducting a certain number of votes from one candidate and crediting the same to another. Without BVAS, the All Progressives Congress, APC, presidential candidate would simply have been credited with outlandish figures that would correspond to the fictitious number of registered voters. In this ancient regime, the near one million votes scored by the labour party presidential candidate would just be superseded by the attribution of over two million votes to the APC

3) INEC

The contrived competitiveness of the presidential election has been tendered as the evidence-in-chief of the credibility of the INEC announced results. But, what, if in reality, the election was not competitive?. Did polls after polls by detached third parties like CNN and Bloomberg not indicate Obi was going to win the election? And isn’t there something naive and credulous, in the first place, to accept the testimony of a heavily compromised witness like INEC? How probable is it that the three leading contestants will win exactly 12 states apiece in the election.

For that matter, this is not the first time INEC will be called out in its habit of the attribution of farcical competitiveness. In an assessment of a previous electoral cycle, the London Guardian newspaper noted “analysis of the data for each of the country’s 36 states and its capital shows that INEC has increased the number of new registered voters by almost exactly the same percentage across all states. The correlation is a statistical impossibility”

Three characteristics are adjunct to election rigging in Nigeria, namely, opportunity, capacity and inclination. The three are written all over the 2023 elections. You

will recall the evidence propounded in the theory of how elections are won in Nigeria by no less the then candidate Bola Ahmed Tinubu at his Chatham house outing in London. He called it “grab it, snatch it and run with it”.

On top of it all, the sum total of the argument of INEC before the election petition tribunal, is that the Nigerian public should discountenance the relevance of BVAS and IReV in the determination of the credibility of the results. It does not get better clarified than the expert statement of the versatile lead counsel of Tinubu, Chief Wole Olanipekun

“It was wrong for the petitioners to hinge their grouse on the electronic transmission of votes when INEC’s electoral laws also contemplated manual transfer of votes as an option”. Yet, a crucial peg on which the agency predicated the need to evade electronic transmission of votes had been contradicted by the host of the INEC server, Amazon Web Services, AWS, that there was no glitch in its services on the 25th of February 2023.

4) INEC And The Professors

On the face of it, the recruitment of university professors to serve as state elections returning officers was a commendable policy. But, as is the case with anything this INEC touches, the policy soon turned to ashes. It has become habitual of the agency to self sabotage all interventions with any potential to steer democracy into safe harbour. As it is the case with BVAS, so has it become with the INEC professors. Below is the testimony of the vice-chancellor of the Ahmadu Bello University, ABU, Professor Kabiru Bala. “It makes me shiver when I hear some of our colleagues say, ‘We are the people who rig elections.’ I participated in the process and I know what I did.”

The exception to the rule was the force of character demonstrated by the vice-chancellor of the Federal University of technology, Oweri, Professor Nnannaya-Oti in her resistance to the pressure mounted on her by the INEC hierarchy. “I shall stand squarely and unapologetically on these principles. The people’s votes and mandate shall stand…The pastor and the mother in me will not permit me to do anything that will adversely affect the future of our children,”. This was in contrast to the instructive behaviour of the INEC witness (the redeemed church pastor Bayode) who objected to affirm the truthfulness of his testimony with the holy bible and took exception to being recognised as a pastor at the court hearings.

The Intervention of the Obidients

Regardless of their imperfections, both structurally and exuberant protagonism, this Nigerian population demographic are the heroes of the election. At the core of the movement, inspirationally and organisationally, were the concatenation of the Nigerian youths who prosecuted the End Sars protest in October 2020. It started as a collective revolt against police brutality but expanded to incorporate reformist angst at the degenerate propensities of the Nigerian status-quo. I had urged them on with the

charge borrowed from Frantz Fanon “out of relative obscurity, each generation must discover its destiny, to fulfil or betray it”. As the 2023 presidential election goes, they fulfilled their part of the bargain but their dream has been abbreviated by the depravity of the political status quo.

At the approach of the elections, I tried to substantiate what polls after polls were telling Nigerians about the potential capacity of Peter Obi to upset the political apple cart. I made it a point of duty to verify the appearance of a bifurcation of opinion between the older generation and their younger counterparts, especially between parents and their children/domestic workers. What I discovered, almost in its entirety, was a ratio of one to four, five or six within families and households in favour of obi.

5) Igbo/Yoruba Schism

My belief is that if the God of the Yoruba wanted them to play the son of soil politics, he would have ensured the former vicepresident, Yemi Osinbajo won the APC primaries. Peer rivalry between the Igbo and Yoruba had played a crucial role in their ascension on the ladder of modernisation. But their coerced membership of a country founded on consumption culture rather than the ethic of productivity has degraded their capacity to rise to their promise and potential. Were they to stand alone as individual countries and on the projection of feats they recorded as autonomous regions, they were on course to rival the likes of India and Brazil in socioeconomic development.

The toxic environment of Nigeria has made each sub-national component (including the pan Islamic North) a victim of the mistake of 1914. The Nigerian dysfunction has rendered the duo unable to cooperate with one another to make the best of the bad Nigerian situation-to the advantage of the adversarial third component of the WAZOBIA tripod. The 2023 elections proved to be a classic theatre for the resurgence and display of the role, wished and designed for them by their common political foe.

The lapse into their default position of mutual antagonism culminated in raw tribalism especially and shockingly of the Yoruba intelligentsia. The pathos was tragically captured in the demonisation of the Labour Party governorship candidate in Lagos state, Gbadebo Rhodes-Vivour. At the height of absurdity, otherwise reasonable and intelligent people began fulminating that Rhodes-Vivour was Igbo candidate on account of his mother being of Igbo origin.

6) Conclusion

Soon enough, we will know whether going to court to prove the obvious is another colossal waste of Nigerian resources and time. A precedence of sorts has been set by INEC. Given the widespread condemnation of the electoral agency as totally devoid of credibility, it is a contradiction in terms to accept the results declared by such a body as worthy of the paper on which it is written. As things stand today, Nigeria is caught in a vicious cycle of self-destruction. The trillion naira question is where and when will this cycle be breached and by who?

Printed and Published in Lagos by Leaders & Company Limited . Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08076290487, 08076290488 MISSILE TRUTH & REASON Friday, July 21, 2023 Price: N250
Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com
INEC Chairman, Mahmood Yakubu

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.