WEDNESDAY 5TH AUGUST 2020 by THISDAY Newspapers Ltd

UBA Leads $1.5bn Oil Sector Financing Deal Provides $200m in NNPC pre-export finance facility Nume Ekeghe The United Bank for Africa Plc (UBA), a leading pan-African financial services group, has acted as the lead arranger

of a consortium of Nigerian commercial and international banks in a $1.5 billion preexport finance (PXF) facility for the Nigerian National Petroleum Corporation

(NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC). The bank is providing $200 million (N78 billion at I&E

exchange rate of N390/$1) to support investment growth and liquidity requirements. A statement from the bank yesterday explained that the facility would provide

the much-needed capital for investment in NNPC’s production capacity, which is of strategic importance to the Nigerian economy and the country’s leading source of

foreign exchange earnings. Other participants in the NNPC deal included Standard Chartered Bank, Afrexim Bank, Continued on page 9

FG Raises Hate Speech Fine from N500,000 to N5m... Page 8 Wednesday 5 August, 2020 Vol 25. No 9249. Price: N250

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Akpabio Moves to Get another N20bn for East-West Road Fears mount funds might disappear like NDDC’s Wale Olaleye Despite the controversy surrounding alleged fleecing of the Niger Delta Development Commission (NDDC) by

the Interim Management Committee (IMC) under his direct watch and supervision, the Minister of Niger Delta Affairs, Senator Godswill Akpabio, is said to be making

final plans to get N20 billion "working capital" for the EastWest Road whose completion date has become open-ended after costing the federal government some N600 billion

since the President Goodluck Jonathan administration. To get the road finished once and for all, the President Muhammadu Buhari administration had

transferred the funding and project management to the Sovereign Wealth Fund (SWI) along with The 2nd Niger Bridge, the Lagos Ibadan expressway and the

Abuja Kano Highway at a reduced costs which Julius Berger and the SWI had earmarked a hundred billion Continued on page 9

Security Council Meets, Buhari Orders New Strategies, Overhauling of Architecture Ndume: Nigerian Army is Ill-equipped, Underfunded to Fight Insurgents Govs meet today over insecurity Omololu Ogunmade and Chuks Okocha in Abuja Nigeria's top security apparatchiks, including the service chiefs, yesterday got a presidential marching order to re-engineer the nation's security architecture and evolve new strategies of arresting the deteriorating insecurity in the country. President Muhammadu Buhari, at a meeting with the security chiefs in Abuja, restated his displeasure with their inability to safeguard lives and property. He, however, implored Nigerians to be patient and

await the fruits of the reengineering process, assuring them that the situation is redeemable. The nation's worsening insecurity will also engage the attention of the 36 states' governors today as they meet to discuss the matter as it affects the states. THISDAY, however, gathered that contrary to expectations that the president might bow to the growing clamour to remove the service chiefs, the remit of the impending overhauling of the security system does not involve Continued on page 9

COVID-19 GREETINGS... Chief of Army Staﬀ, Lt. Gen. Tukur Buratai (left), and National Security Adviser, Maj. Gen. Babagana Monguno (rtd.), during the National Security Council meeting in Abuja…yesterday

At Funeral, Fayemi, Oyetola, Akeredolu Celebrate Fasanmi....Page 5

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

At Funeral, Fayemi, Oyetola, Akeredolu Celebrate Fasanmi

Victor Ogunje in Ado Ekiti and Yinka Kolawole in Osogbo

The National Leader of All Progressives Congress (APC), Senator Bola Tinubu; Governors Kayode Fayemi (Ekiti), Rotimi Akeredolu (Ondo) and Gboyega Oyetola (Osun), were among dignitaries that yesterday paid their last respects to the late Afenifere leader, Senator Ayo Fasanmi, whose remains were buried in his country home at Iye Ekiti in Ilejemeje Local Government Area of Ekiti State. Fasanmi, who was a Second Republic senator, died last Wednesday at 94. The casket carrying Fasanmi's corpse was conveyed in a motorcade to the funeral service at Saint John's Anglican Church, Iye Ekiti. Tinubu and the governors described Fasanmi as one of the country's unsung heroes, saying his demise has robbed them of a "godfather and counsellor." Fayemi described Fasanmi's contributions to the development of democracy as immeasurable, particularly his role in the formation and operation of the defunct National Democratic Coalition (NADECO) that fought against the military. He stated that his government was constructing a secondary school to honour the deceased for his contributions to Ekiti State. "My only regret was that he has now left us before the school will be officially inaugurated for academic activities when schools finally reopen," he added. Fayemi, in his speech entitled: 'Tribute to a Man of Integrity,' said what he admired in the deceased was his integrity, which bore eloquent testimony to his immaterialist life and added more respect to his incorruptible nature. "His death has, therefore, robbed me of a godfather, counsellor, an advocate and a father. A good man has left us. We will miss him but we are consoled that Baba’s entire adult life was dedicated to selfless service," he stated. Fayemi added that Baba belonged in the class of the youths of the 1950s when the nationalist movement was at its feverish peak and got indoctrinated into nationalism struggle through the forceful writings of Dr. Nnamdi Azikiwe and his contemporaries who used the instrumentality of the media to etch an indelible impression on the minds of the young students of that era. He said: "He proved his political mettle in 1964 when he was elected as a member of the Federal House of Representatives before the military struck in 1966 and he got imprisoned in Agodi Prison before he was later released. "By the time democracy

returned in 1979, he was a major participant in the politics of that time in the old Ondo State. He offered to serve as governor of the old Ondo State in 1978 and slugged it out with Chief Michael Adekunle Ajasin who defeated him in the primary. "He eventually went to the Senate along with other iconic Ekiti bests such as Prof. David Oke and Prof. Banji Akintoye where they distinguished themselves and became exemplars. "One legacy for which Baba would be fondly remembered was his credential of incorruptibility. He was a man of tall integrity and honesty. It would be recalled that he was the first to start the Anti-bribery and Corruption Committee in 1973 under Col. Oluwole Rotimi of the Western Region.” As part of the COVID-19 protocols, the Osun State Government had earlier officially handed over the remains of the late Afenifere leader to the Ekiti State Government, for his interment at Iye Ekiti. The short farewell ceremony took place at Itawure, the border town between the two states. The handover followed a well-coordinated commendation service held in the deceased's honour amid strict safety protocols supervised by the Osun State Ministry of Health at All Saints Anglican Church, Osogbo, and hosted by Oyetola. Osun State was represented at the ceremony by the Commissioner for Information and Civic Orientation, Mrs. Funke Egbemode; Commissioner for Culture and Tourism, Dr. Adebisi Obawale; Special Adviser to the Governor on Public Health, Dr. Siji Olamiju; and Special Adviser to the Governor on General Administration, Mr Niyi Idowu, among others. At the handover, the representatives of the two states lauded the late elder statesman who they described as humanist par excellence and a good support system in the polity of both governments. Oyetola, represented by his deputy, Mr. Benedict Alabi, was part of the eminent personalities who thronged Ekiti State to pay their last respects. Oyetola in his tribute noted that but for the late Fasanmi's wish to be buried in Ekiti State, Osun State would have concluded all the burial rites and buried him in the state. In his sermon during the burial, the Bishop of Ekiti Oke, Anglican Communion, Reverend Peter Olubowale, said Fasanmi was not a noisemaker and troublemaker during his time, adding that his transition on earth corroborated that "life is not important except it has impacts on others." He urged the people to continually do good to humanity, the way Fasanmi

did to his family, political associates, friends and companions, by making himself available at the most critical and challenging times. He said: "We need to be available to ourselves and be committed to God and set goals. Nigeria is in the position it is today not because we don't have material and human resources, but we lack the commitment to ourselves, set goals, and the welfare of the people. "Nigerians are the number one people in the world that are easy to govern. They have patience, zeal and elastic in endurance. When you think they will fall, they will just

stand and be looking and I think our political leaders will not play too much on this. "Many of us no longer have trust in this nation. No trust in ourselves, no trust in our leaders. Baba has told us that all these monies you are spending and the one you are keeping inside bullion vans and the ones being stashed in bank accounts- all is vanity. "The suffering in town is much. Use the position you are occupying very well to develop humanity. This is the only way you can gain eternity, the most important reward for all of us because materialism will lead you to hell fire."

Tinubu, who was represented by a former Lagos Deputy Governor, Prince Abiodun Ogunleye, said Nigerians should learn from the late politician, who lived a modest and Spartan lifestyle. Tinubu described Fasanmi as a civilian revolutionist and a politician of outstanding mien, civility and character, who is worthy of emulation. Governor of Lagos State, Mr. Babajide Sanwo-Olu, represented by his Special Adviser on Civic Engagements, Princess Aderemi Adebowale, said Fasanmi's influence became more pronounced by his incorruptible nature.

Speaking on behalf of the South-west governors, Akeredolu said the news of the passage of the icon was a loss to the Yoruba race and Nigeria at large. "Baba living long for 94 years was not what we are celebrating, but we are celebrating how many lives he had impacted. He lived an impactful life. "He was not petty but he spoke truth to power. He lived a remarkable life and he was one politician who became a senator and came home to rest later. Let politicians of today learn how to be contented and allow this remarkable conduct to guide us," he said.

REVIEWED CODE UNVEILED... Acting Director-General of the National Broadcasting Commission, Prof. Armstrong Idachaba (left), and Minister of Information and Culture, Alhaji Lai Mohammed, during the unveiling of the reviewed Nigeria Broadcasting Code in Lagos… yesterday

Yakassai Backs Power Rotation, Seeks Nigeria’s Return to Parliamentary System Uche Nnaike An elder statesman, Alhaji Tanko Yakassai, has called for a return to the parliamentary system of government in Nigeria to end the allegation of marginalisation by some parts of the country. He also made a case for zoning of political power, saying zoning and power rotation will take care of the aspiration of different groups in the country. According to him, once power goes round at least once or twice everyone will be reassured that they will get the opportunity to produce the president. Yakassai, who was a guest on the Morning Show, a programme on ARISE News Channel, the broadcast arm of THISDAY Newspapers, yesterday said his endorsement of zoning was not his best choice, but that he had to realise that

the stability of the country should be paramount. "I am still feeling that if the military had allowed us to continue from the Second Republic without any interference, probably the Nigerian people on their own would have jettisoned rotation and zoning and realised that everyone should be considered on his own merit, but unfortunately the military scuttled the journey. So, we are going back to square one anytime the military intervenes," he explained. He said he was originally in support of the presidential system of government with the belief that if the whole country is the president's constituency, the president will devote his attention to every part of the country. According to him, this will end the allegation of marginalisation by different sections of the country.

“Unfortunately, this is not our experience in Nigeria. So if I have my way, I will recommend that we go back to the parliamentary system of government," he said. The former liaison officer to late President Shehu Shagari noted that the problem with the presidential system, which Nigeria copied from America is that power is concentrated in the hands of the chief executives, president and governor. Yakassai said: "All the complaints that we are hearing about corruption is associated with that. It is so because under the presidential system, you cannot remove the president except by a resolution of the two chambers of the National Assembly, supported by two-thirds of the total membership. “It is known that it is not a difficult thing for a president

or governor to corner onethird of the membership of the legislature and make them to vote against anyone who is thinking of going back to any system other than the one that vested power in them. This is a big predicament in Nigeria." However, he said in the parliamentary system, only a simple majority is needed in the parliament to pass a vote of no confidence in the government. “So, when the government is not performing, all the members need to do is to move a vote of no confidence and when the vote is checked and a single majority is in favour of the motion, the government will leave and a new one will be set up and the fear of that alone will make whoever is in power to ensure that he does not do anything that will warrant a vote of no confidence in his administration.”

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FG Raises Hate Speech Fine from N500,000 to N5m Unveils reviewed broadcasting code despite industry-wide opposition

Iyobosa Uwugiaren in Abuja The federal government has raised the fine for hate speech from N500,000 to N5 million and mandated broadcast stations to devote airtime for public education on emergencies such as the COVID-19 pandemic. The Minister of Information and Culture, Alhaji Lai Mohammed, made this known in Lagos yesterday while unveiling the Reviewed Broadcasting Code, according to a statement by the ministry. The reviewed Nigeria Broadcasting Code contains the anti-trust provision aimed at boosting local content and encouraging the growth of the local industry, among others. Mohammed, at the ceremony organised by the National Broadcasting Commission (NBC), said the anti-trust provision would boost local content and local industry due to laws prohibiting exclusive use of rights by broadcasters who intend to create monopolies and dominate the market. He added that the antitrust provision would also encourage open access to premium content. ''I must explain that this provision is not new to Nigeria Broadcasting. Exclusivity was disallowed at a certain time in the history of our broadcasting. I recall Multichoice sub-licensing EPL matches to other local operators in Nigeria. I recall HITV engaging several local operators on sub-licensing the EPL when they got the rights,” Mohammed stated. According to him, the revised code contains a law prohibiting backlog of advertising debts in order to promote sustainability for the station owners and producers of content, as well as a law on the registration of web broadcasting, which will grant the country the opportunity

to regulate negative foreign broadcasts. “The provisions on responsibility of broadcast stations to devote airtime to national emergencies... obviously mandates terrestrial and pay-TV channels to make their services available to Nigerians at time of national emergencies- like the ongoing COVID-19 pandemic- for their education and enlightenment,” the minister said. He said the amended code also included the provision raising the fine for hate speech from N500,000 to N5 million. Mohammed clarified that the amendments were necessitated by a presidential directive, in the wake of the 2019 general election, for an inquiry into the regulatory role of the NBC with a view to repositioning it for optimum performance. He said despite the attacks by some vested interests, who believe that their singular business interest is superior to national interest over the provisions of the amended code, the federal government remained unperturbed. “But, as it currently stands, the sixth edition and the amendments, which we are unveiling today, remain the regulations for broadcasting in Nigeria. Our intention remains the good of the country. We need to catalyse the growth of the local industry. We need to create jobs for our teeming creative youths. The opportunities must be created and we believe that effective regulatory interventions are a sure way of attaining this. That's why we will not waver,” the minister said. The Acting Director General of the NBC, Prof. Armstrong Idachaba, commended the Buhari administration for showing keen interest in the development of the broadcasting industry through the implementation of reforms and several other

interventions.

FG Unveils Reviewed Broadcasting Code Despite Industrywide Opposition The reviewed code was unveiled despite opposition to some of its provisions by stakeholders in the industry. Since 27 May when it was proposed by the NBC, industry stakeholders have been critical of many of its provisions, which were deemed draconian, with the NBC facing allegations of straying into areas over which it has no jurisdiction. Considered most irksome by stakeholders are provisions seeking to regulate content exclusivity, mandate content sharing and empower the NBC to determine prices at which content is sold to sub-licensees by rights

holders. Notable critics of the code include Nobel Laureate, Prof. Wole Soyinka, who described the code as “strangulatory” rather than regulatory, and CEO of IrokoTV, Mr. Jason Njoku, who branded it as “quasi-socialism” and a means of subsidising inefficiency in the industry. Fielding questions from journalists, Mohammed said the new code makes it mandatory for broadcasters to share content rights with competitors, claiming that the code does not infringe on the copyright of right holders. He also claimed that the prohibition of exclusivity is not new to Nigerian broadcasting. He explained: “Nigerian Copyright Commission Act actually makes it mandatory that if you buy a right, you must sell that right to whoever wants to buy at a

price to be agreed by the parties. By bringing it into the code, we are simply reinforcing the law. “The truth is that all the giants of the day, Amazon, Netflix and iTunes started by sublicensing to become what they are. “It is only here in Africa that we buy rights and hold it to ourselves.” On the allegation that the NBC is straying into areas over which it has no control, especially advertising regulation and debts, the minister said that as the apex broadcast industry regulator, it is the duty of the NBC to ensure a sustainable, qualitative and profitable industry. Mohammed explained further: “Just like CBN ensures you can’t owe one bank and seek loan in another without paying your debt, we are also prohibiting advertisers

from short-changing content creators and owners. Content drives advertising and we don’t want a backlog of debts to cripple the media houses. And when the media houses are not being paid, we the regulator cannot get our fees.” Industry stakeholders have also branded the code as agenda-driven, noting that they were excluded from making input before the code was finalised and described its unveiling as an ambush. A content creator, who craved anonymity, said the invitation to the presentation was silent on the fact that the code would be unveiled. “The invitation simply said it was a press briefing, which would see the acting directorgeneral of the NBC speak on matters arising within the industry. That should tell you they just sneaked it in on the industry,” she said.

FOR SAFETY IN SCHOOLS... L-R: Bayelsa State Governor Douye Diri (left), and Chairman, Bayelsa State Council of Traditional Rulers, King Alfred DieteSpiﬀ, during a Safe School Re-opening Programme in Yenagoa...yesterday

FIRS Vows to Recover Funds in NIPOST’s ‘Illegal’ Stamp Duties Account’ Ndubuisi Francis in Abuja The Federal Inland Revenue Service (FIRS) has expressed its resolve to ensure that all monies collected by the Nigeria Postal Service (NIPOST) into its 'illegally operated Stamp Duties Account' are fully recovered and remitted into the Federation Account. The revenue agency has also described the remarks by Board Chairman of NIPOST, Ms. Maimuna Abubakar, as a disservice to the country. Abubakar had in tweets on Sunday alleged that the FIRS stole the agency’s mandate, stamps and ideas. The FIRS, in a recently released circular, said it now has a portal for automated stamp duty collection where all stamp duty paying citizens, government agencies,

institutions, and private organisations should log into and pay stamp duties. However, NIPOST opposed the FIRS, saying only the postal agency is empowered to print, mint, produce, retail, and provide adhesive postage stamps. In a reaction to Abubakar, the FIRS’ Director of Communication and Liaison, Mr. Abdullahi Ismaila Ahmad, said yesterday that the FIRS is not violating any law by collecting stamp duty. The tax authority also said it was determined to make sure that any kobo not accounted for in the account is legally recovered in line with President Muhammadu Buhari's directive to the recently inaugurated interministerial committee on the recovery of stamp duties from 2016.

The agency equally threatened that anyone found culpable of misappropriating the funds in the said account would be made to face relevant laws as provided in the nation's statute books. FIRS' position followed what it described as “false and indecorous” twitter post by the Chairperson, NIPOST Board, Abubakar, in which she claimed that both the tax authority and the National Assembly appropriated NIPOST’s ideas about stamp duties to the exclusion of the postal agency. In the statement issued by Ahmad, the FIRS said its attention had been drawn to a twit by Mrs. Maimuna Abubakar, Chairperson of the Board of NIPOST. Knocking the tone of the message, the FIRS noted that "her indecorous twit would

not have deserved any response but for the sensitive nature of the issue at stake, which if not sensibly treated and promptly corrected would likely mislead the public. "To be sure, NIPOST is a government parastatal established by Decree 41 of 1992 with the function to develop, promote, and provide adequate and efficiently coordinated postal services at reasonable rates. This function is clearly contrary to the claim by NIPOST over the administration of stamp duties in Nigeria. "On the other hand, FIRS is the sole agency of government charged with the responsibility of assessing, collecting, and accounting for all tax types including Stamp Duties. "It is therefore shocking to us at the FIRS that such a privileged young lady who

happened to be appointed to high office would throw all caution to the air to cast aspersions on reputable public institutions like the National Assembly and the FIRS, which she accused of stealing NIPOST idea. This, to say the least, is a preposterous claim and great disservice to the government and people of Nigeria." The statement categorically pointed out that as an agency which operates within the ambit of the law, "the FIRS is determined to not only ensure that all monies collected by NIPOST into its illegally operated Stamp Duties Account are fully remitted into the Federation Account but also make sure that any kobo not accounted for in that account is legally recovered in line with the charge of President Muhammadu Buhari

to the recently inaugurated inter-ministerial committee on the recovery of stamp duties from 2016 till date. "In addition, anyone found culpable of misappropriating the funds in the said illegal NIPOST Stamp Duties Account would be made to face the law as provisioned by the country's statute books." The tax authority noted that it was resolute in its resolve "to safeguard national interests and not any personal ego or interest as NIPOST officials appear to carry on lately," adding: "We, therefore, call on right-thinking Nigerians to disregard that ill-advised tweet by Mrs. Maimuna Abubakar and allied misinformation being disseminated by NIPOST in relation to stamp duties collection, which by law is the responsibility of the FIRS."

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PAGE NINE SECURITY COUNCIL MEETS, BUHARI ORDERS NEW STRATEGIES, OVERHAULING OF ARCHITECTURE replacing them, despite the widespread disenchantment with their perceived inability to tame the escalating security crisis rocking the country. Briefing journalists yesterday after a National Security Council meeting presided over by the president and attended by Vice President Yemi Osinbajo, the National Security Adviser (NSA), Maj. Gen. Babagana Monguno (rtd.), said the president reaffirmed his position at the last June 18 meeting that the security chiefs were not doing enough and hence should do more. "What he said today was virtually a reaffirmation of what he said the first time. Yes, Mr. President said you are doing your best, as far as I'm concerned, but there's still a lot more to be done. I'm more concerned about the promise we made to the larger Nigerian society and I am ordering an immediate re-engineering of the entire security apparatus. This is something that I believe will be done in a very short time, but I just want us to keep hope alive," he stated. According to him, the president ordered the service chiefs and heads of security agencies to overhaul their security strategies, bearing in mind that the federal government owes the citizenry a duty to guarantee lives and property. Against this background, he urged Nigerians to collaborate with security agencies in the efforts to contain violent crimes, adding that the Office of the NSA will work out the blueprint to address the matter. "The Office of the National Security Adviser in conjunction with other security agencies will work out a blueprint in a short, medium and long term to address this matter. "Of course, there are also other issues of fully equipping the security agencies. “Finally, Mr. President has also directed we must rejig our strategy both in terms of operations and intelligence to further prevent catastrophes. We must bear in mind that we owe a duty to the people that elected this government and at the end of the day, without securing the nation, all other things such as

revamping the economy and fighting corruption cannot be addressed," he said. Monguno, who said he knew how everybody felt about insecurity issues ravaging the country, added that the president also knows that securing the nation is a primary responsibility of the government. "But again, since he's not an octopus, since he's not a spirit, if he delegates to people, then the onus is on them to actually fulfill the legitimate expectations of the larger Nigerian society," he stated. On what the council is doing about the escalated killings in Southern Kaduna, Monguno described the huge level of insecurity in the area as a political matter. He explained that the Governor of Kaduna State, Malam Nasir el-Rufai, had been discussing with the president over the matter. But he added that he is not privy to details of the discussion between the governor and the president. "Kaduna is again a political matter and I think the governor of Kaduna State has been talking with Mr. President and I'm not privy to the final outcome," he added. On the security crisis in the North-west, the NSA said findings had shown that illegal miners had been working with bandits to unleash mayhem on the people of the zone, threatening that the security system would get to the root of kidnapping and banditry in the region. "The second issue, of course, is also tied intrinsically to that situation of banditry in the North-west and North-central zones, where you have a lot of illegal aliens working just like what you see in the mining sector, illegal miners working with bandits and kidnappers," he said. The NSA said he presented a Memorandum of Understanding (MoU) to the council on the twin issues of drug consumption and drug trafficking, which have assumed a dangerous and worrisome dimension. According to him, the situation is so worrisome because the engagement in drug matters

in Nigeria has moved from the hitherto state of being a traffic hub to a production centre. He said between 2011 and 2019, for instance, no fewer than 17 manufacturing laboratories of methamphetamine were discovered and destroyed, identifying promoters of the menace as some drug farmers who planted cannabis and employ militants to protect the farms. Monguno said drug issues were destructive to both the social and economic fabrics of the nation because they were prevalent in the country. The NSA said the Chairman of the National Drug Law Enforcement Agency (NDLEA), Col. Muhammad Abdallah, was invited to brief the meeting on the situation. He explained that the NDLEA boss affirmed the increasing trend of drug trafficking and consumption. According to him, the NDLEA boss described the situation as reckless, adding that it requires collective efforts to address the menace through the deployment of both the entire societal and governmental approach to curb it. He classified those involved in the menace into three- drug peddlers, drug consumers and some security agents or government officials entrusted with the responsibility of denying people access to the substance but opt to compromise their duties and rather promote it. However, the NSA said the council had decided that it was high time the menace was fought because it had been a factor fuelling criminality such as banditry, kidnapping and terrorism. He added that given the level of abnormality and inhumanity involved in killing and wasting lives, only people who consume drugs could engage in such mindless acts. He listed brands of the drugs as codeine, Tramadol, cocaine, opium, among others, noting that Tramadol is the most popular and most easily acquired by terrorists, kidnappers and bandits. He said: "You have a minimum of three parties operating at the same time -

the drug peddler (the supper fly), the consumer (the junkie) and that person in the centre who has been entrusted with denying these drugs access into the country. It is important to note that if there is a compromise then things become tedious and problematic. "So, what we did was to invite the Chairman of NDLEA based on his report that all security agencies are studying, the president has resolved that we must wrestle this problem. This problem is directly linked. "If you look at the criminality, the colouration of each crime, especially kidnapping, banditry and terrorism, it is not the killing of the people but the way people are killed, goes to show one thing. It is extremely abnormal, inhuman and these acts can only be perpetrated by people who are out of their minds. "One thing we in the security and intelligence arm have been able to trace, is that there are certain drugs of choice that have saturated the entire landscape of the country.” He also spoke on the attack on the convoy of the Governor of Borno State, Prof. Babagana Zulum, last week, saying he has no details of the episode. "My namesake has already told me that he's coming for the meeting (governors meeting with president yesterday). It's only after that meeting that I can really be able to understand the nitty-gritty of what happened. But like you said, it's unfortunate and I believe we'll get over this issue," he said.

know that they are inadequate to address this issue,” he told ARISE News Channel, the broadcast arm of THISDAY Newspapers, last night. He added: “You can’t believe that in this war, ammunitions are not enough…they are even rationed. They don’t have RPGs, armoured tanks.” Ndume, who said he believed that the war could be won, explained that apart from the challenge of inadequate equipment, he agreed that internal saboutage was also a contributory factor to the elongation of the war against insurgency. “People are deriving economic benefits from the elongation of this war,” he said in agreement with the Borno State Governor, Prof. Babagana Zulum, who attributed a recent attack on his convoy at Baga to saboutage by some elements in the military.

Govs Meet Today over Security Challenges

Meanwhile, the Chairman of Senate Committee on Army, Senator Ali Ndume, has said although the Armed Forces have tried their best to push back the insurgency in the North-east, their efforts have been hampered by inadequate equipment and underfunding. “If you go and see the environment and the equipment that the Nigerian Armed Forces are operating with, you will

Governors of the 36 states of the federation have summoned a meeting today to discuss the worsening state of insecurity as it affects the states. THISDAY gathered that the meeting will be a follow-up to the one billed for yesterday to review the meeting of the National Economic Committee (NEC) sub-committee on security. One of the governors told THISDAY that today’s meeting of the governors under the auspices of the Nigeria Governors’ Forum (NGF), would be preparatory to their proposed meeting with the president soon. When asked whether the governors will be demanding the sack of the service chiefs as the National Assembly did, the governor said: "Let's not preempt the meeting. Let us meet first as a body of the Nigeria Governors' Forum. "The level of insecurity in the country is real. This is not partisan politics. Whatever decision that is taken would be in the national interest." NGF’s planned meeting was also confirmed in a statement issued yesterday by NGF’s Head of Media and Information, Mr. Mohammed Barkindo, who said

be sufficient to complete the construction of the road and could go the way of several other billions allocated to the project and the agency. “The questions being asked now are: will N20 billion complete the construction of the road that had gulped over N600 Billion for several years and still in a perilous state? Why seek to take control of an amount that will not complete the road when the SWI had earmarked N100 billion to complete the project as is now been done with the 2nd Niger Bridge, the Lagos Ibadan Expressway and the Abuja Kano highway? “Or is this just another pretext to feed the large appetite of consultants and fritter away the government’s resources on the altar of corruption and

embezzlement?” The East-West road project was first awarded in 2006 by the Olusegun Obasanjo administration but driven by the YarAdua/ Jonathan administrations. The project, a 657-kilometre dual carriageway, stretching from Calabar in Cross River State to Warri in Delta State, was, however, valued at N726 billion at the time and approved by the federal government at the height of agitations by youths in the Niger Delta. In 2017, the Rivers State government called on the federal government to declare a state of emergency on the failed portion of the road, especially, the Akpajo-Eleme axis, saying it has become a death trap and huge embarrassment to the country.

witnessed. With the sharp drop in the price of oil and the ensuing hardship that followed the onset of the COVID-19 pandemic, the private sector must come together and contribute meaningfully to the economy. “This facility is clear evidence of this – UBA is providing an investment that will significantly improve Nigeria’s production capacity and in doing so also demonstrating the strength, depth, and sophistication of our commercial banking capability. I believe that together, working with governments, we can create

more jobs and more wealth for people, not only in Nigeria but across Africa.” UBA is one of the largest employers in the financial sector in Africa, with over 20,000 employees and serving over 20 million customers. UBA operates in 20 African countries and globally in the United Kingdom, the United States and France, providing retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

Ndume: Nigerian Army is Ill-equipped, Underfunded to Fight Insurgents

AKPABIO MOVES TO GET ANOTHER N20BN FOR EAST-WEST ROAD to the East-West Road with a N20 billion contribution from the federal budget. But Akpabio told officials he wanted the Ministry of Niger Delta Affairs to project manage the East-West Road without the tedious process of the SWI and blackmailed the presidency to have the funds released to him claiming the Niger Delta militants were protesting the process - in his usual tactics to get direct funding from the Buhari administration. In fact, THISDAY gathered that Buhari had since granted the minister’s request to obtain funds from the Sovereign Wealth Fund. But the SWI would only release the N20 billion contribution from the Budget Office as the balance of N80 billion has a very different governance structure which

is not in line with the free wheeling of the Niger Delta ministry. Akpabio is currently enmeshed in stunning corruption allegations, including the misuse of funds allocated to NDDC for infrastructure development in the Niger Delta. The fear now among stakeholders in the oil-rich but backward region, THISDAY learnt yesterday, is that the new N20 billion might disappear just like the billions of Naira of the NDDC funds that have been allegedly misappropriated in the last seven months and beyond. Experts say the Ministry of Niger Delta does not have the engineering support for such a project, so releasing the funds to Akpabio would be a waste as what is required is the proper funding

structures of the SWI or the Federal Ministry of Works. And in any case releasing N20 billion only for a project requiring N100 billion will "almost certainly see the waste of the funds in all sorts of consultancies or reviews of even "forensic audit", said a source in the presidency. But the approval to release the N20 Billion to Akpabio, is generating concerns within government circles, with many questioning the purposes at a time of heightened public suspicion amid alleged massive mismanagement at NDDC under the supervision of the minister. Particularly curious about the approval, observers say, is the possibility that the N20 billion may end up a waste, because the amount may not

UBA LEADS $1.5BN OIL SECTOR FINANCING DEAL Union Bank and two oil trading companies, Vitol and Matrix. UBA’s position as the lead arranger recognises the group’s strength in structuring and deploying financing to the oil and gas sector and the depth and liquidity of the group’s balance sheet. The $1.5 billion facility is structured in two tranches. The first tranche of $1 billion, to be repaid over a period of five years, would be provided in dollars, with UBA acting as the facility agent bank. The second tranche of $500

million would be provided in the local currency, over seven years, with UBA acting as the lead bank, providing $200 million in naira equivalent. Both facilities will be repaid from an allocation of 30,000 barrels per day of NPDC’s crude oil, the statement added. “UBA has a strong track record in the resources sector across Africa, having facilitated oil prepayment deals with the NNPC, including its 2013 $100 million participation in the PXF Funding Limited transaction, and a further $60 million in the 2015

Phoenix Export Funding Limited transaction. “In Senegal, UBA was responsible for the EUR 240 million revolving crude oil financing facility for the Société Africaine de Raffinage and in Congo Brazzaville co-funded the $250 million crude oil prepayment facility for Orion Oil Limited,” it said. Speaking on the support for the Nigeria’s petroleum industry, UBA Group Chairman, Mr. Tony Elumelu, said: “This has been one of the most economically challenging years that Nigeria has

that the governors would be holding their 14th teleconference today. He confirmed that one of the major items to be discussed at the virtual conference would be the degenerating security in the country. According to the statement, "The rapidly degenerating security situation in the country will feature very prominently when governors meet tomorrow (today) for their 14th NGF teleconference meeting, according to the invitation sent out to governors by the Director-General of the NGF, Mr. Asishana Bayo Okauru." The statement added: "Not unexpectedly, in line with the security and policing swamp that the country has found itself, the attack on Borno State Governor, Professor Babagana Umara Zulum, will be tabled for discussion. "Just as the state governors will also preview a webinar which comes up on August 11, driven through a partnership of the Nigeria Governors Forum and the Centre for Value in Leadership (CVL), led by Professor Pat Utomi." It said one such webinar had taken place last month where the Governor of Lagos State, Mr. Babajide Sanwo-Olu, x-rayed insecurity and the challenges of governance and leadership in the new normal, as it affects his state, adding: "That too will come under the governors’ searchlight." The NGF listed other items on the agenda of the meeting to include discussion on the launch of the distribution of palliatives by the Coalition Against COVID19 (CACOVID), led by Alhaji Aliko Dangote, Access Bank, along with other well-meaning philanthropists. The governors will address the issue of yet-to-be accessed funds at Universal Basic Education Commission (UBEC), and review the resumption of schools and its roll-out plan. According to the statement, "Apart from security and education, the permanent items on the teleconferences since the pandemic, health and the economy will also make it to the table." It said the Governor Ifeanyi Okowa Committee, which interfaces with the Presidential Task Force on COVID-19 would brief the governors on the progress so far before the governors discuss the economy. Under this item, it said that the progress on the States’ Fiscal Transparency, Accountability and Sustainability programme SFTAS would be discussed. It added that there will also be an update on the restructuring of states’ loans.

TOP GAINERS NGN NGN % AXAMANSARD 0.14 1.58 9.7 UACN 0.55 6.85 8.7 JAIZBANK 0.04 0.59 7.2 NPFMFB 0.07 1.26 5.8 MBENEFIT 0.01 0.22 4.7 TOP LOSERS NGN % CAP PLC 1.70 15.40 9.9 TOTAL 8.70 79.10 9.9 ARDOVA 1.30 12.15 9.6 UNILEVER 1.05 11.20 8.5 GSK 0.45 4.85 8.4 HPE Nestle Nig Plc ₦1,256.80 Volume: 154.467 million shares Value: N1.458 billion Deals: 4,222 As at yesterday 4/8/2020 See details on Page 27

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢T H I S D AY

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢ T H I S D AY

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢T H I S D AY

T H I S D AY ˾ WEDNESDAY AUGUST 5, 2020

MIDWEEKPOLITICS Daura Raises the Sceptre of Northern Dominance Again

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

Segun James wonders if Mamman Daura was speaking the mind of inﬂuential northerners when he posited that the north may no longer honour the mutual agreement to rotate power between the north and the south wanted to contest with an incumbent President who still had an opportunity for a second term. That however is not the situation this time around. Buhari will be completing his second and final term in 2023 when power is expected to change hands in respect of the rotational agreement that is standing in the All Progressives Congress (APC) and the Peoples Democratic Party (PDP). Following the rage arising from Daura’s statement, the presidency has came out with a statement that Daura does not represent the President. President Muhammadu Buhari’s spokesman, Garba Shehu, said the views expressed by Daura are his personal views and does not in any way reflect that of the president or his administration.

Daura

aradoxes abound in politics. It is said that for every hypothesis, the opposite is also true. It is not surprising that he polity is getting hot with different events geared towards the 2023 election takes are feverish turn. President Muhammadu Buhari began his government with an impassioned plea for understanding by Nigerians, even as he made it clear that he intended to be his own man - I belong to no one, I belong to every body, he said. Five years after the optimism that heralded his coming, Buhari who rode to power on a nationalism passion is beginning to show a different face. Since his coming the political situation in the country has become frighteningly chaotic. The country is close to sliding into a full scale banana republic as atrocious acts linked to his ethnic Fulani kinsmen have become more daring. Recently, there was a bombshell iof an nterview with the British Broadcasting Corporation (BBC) by the nephew of the President, Malam Mamman Daura. In the interview, the 80 year old former journalist, who still lives with his uncle with his family, declared that the north may no longer respect the gentleman’s agreement reached with the south on the rotation of the presidency between the northern and southern political zones. No doubt, the outbursts has thrown the polity into disarray. Words matter or as Nigerians may have found out, Daura may indeed be saying the mind of the north as the nation races towards the 2023 election which will determine the continued stay of the country as one nation. Daura is the most influential figure around the President. He said he preferred Buhari’s successor in 2023 to be chosen based on competence and not via zoning, an unwritten political arrangement between political leaders from the north and south that rotates power between the regions every eight years. Buhari, from Katsina State, northern Nigeria, will complete his final term on May 29, 2023. Rage can be cathartic and constructive. The outrage shown by Nigerians from the southern zone can be understood. But it was the long silence from the north that is palpable and the late denial by the presidency that is telling. When Daura said that the presidency should not be zoned any longer, it was a repeat of what Alhaji Shehu Malami said 38 years ago in similar circumstances. Malami had come out to say that the presidency is not for sale. He told Chief Moshood Abiola that he should not think of contesting the presidency with Alhaji Shehu Shagari under the banner of the National Party of Nigeria (NPN), the dominant party between 1979 and 1983. That Malami got away with his outburst is understandable, given the fact the Abiola

Garba’s Saturday statement reads: We have received numerous requests for comments on the interview granted by Malam Mamman Daura, President Muhammadu Buhari’s nephew to the BBC Hausa Service. “It is important that we state from the onset that as mentioned by the interviewee, the views expressed were personal to him and did not, in any way, reflect that of either the President or his administration. “At age 80, and having served as editor and managing director of one of this country’s most influential newspapers, the New Nigerian, certainly, Malam Mamman qualifies as an elder statesman with a national duty to hold perspectives and disseminate them as guaranteed under our constitution and laws of the land. He does not need the permission or clearance of anyone to exercise this right. “In an attempt to circulate the content of the interview to a wider audience, the English translation clearly did no justice to the interview, which was granted in Hausa, and as a result, the context was mixed up and new meanings were introduced and/or not properly articulated. “The issues discussed during the interview, centred around themes on how the country could birth an appropriate process of political dialogue, leading to an evaluation, assessment and a democratic outcome that would serve the best interest of the average Nigerian irrespective of where they come from. “These issues remain at the heart of our evolving and young democracy, and as a veteran journalist, scholar and statesman, Malam Mamman has seen enough to add his voice to those of many other participants.” However, the denial seemed an after thought and may actually indicate the President’s thinking as his body language points to the same direction. What’s more, nobody can deny Daura’s influence in this government; which has been so overbearing that even the President’s wife was forced to cry out The labyrinthine complexities of political maneuvering in Nigeria have taken a muster turn with two apparently contradictory developments. The decision of the Yoruba people to ensure that the economic base of the nation remains with their people so that they can use it as a leverage to political ascendancy; and the desire of the north to remain the political overlord of the nation. The southeast and the other minority ethnic nationalities seemed to have not been considered in the scheme of things. How high can the Fulani go in entrenching their dominance on the polity by putting their people in every conceivable political positions? That’s the question. Five years into the government of Buhari, this has not manifested into any advantage for the region. All it has succeeded in doing is empower individuals. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

L-R: Minister for Works and Housing, Mr. Babatunde Raji Fashola, Special Adviser to the Lagos State Governor on Works & Infrastructure, Engr. Aramide Adeyoye, Lagos State Commissioner for Transportation, Dr. Frederic Oladeinde and Federal Comptroller of Works in Lagos, Engr. Kayode Popoola during the inspection visit of the Minister to the site of the ongoing maintenance/repair works on the Third Mainland Bridge

L-R: Deputy Governor of Bayelsa State, His Excellency, Sen. Lawrence Ewhrudjakpo; Governor of Bayelsa State, His Excellency, Senator Douye Diri and Speaker, Bayelsa State House of Assembly, Rt. Hon. Abraham Ingobere, during the public presentation of the state’s reversed budget

L-R: Leader, South-South Professionals Forum, Kenneth Uzoigwe; Speaker, House of Representatives, Rep. Femi Gbajabiamila, Nigeria’s Ambassador Designate, John Usanga and member, South South Professionals Forum, Ejima Chris after the newly appointed Ambassador paid a courtesy visit to the Speaker in his Surulere, Lagos residence on Saturday

From Left, Chairman, Agbewumi Cocoa Farmers Association, Orisumibare Iperindo, Mr Ajibade Moshood, receiving a cheque from General Manager, Osun Micro-credit lLimited, Mr Dayo Babaranti. Head of Operations, Osun micro-credit limited, Mr Sanya Olopade, during the distribution of cheques to 30 cocoa farmers supported by Osun Micro Credit Agency

T H I S D AY Ëž Ë&#x153; ÍłË&#x153; 2020

COMMENT

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

AGENDA FOR AKPATA-LED NBA

Sonnie Ekwowusi urges the present executive to help enthrone the rule of law

lumide Akpataâ&#x20AC;&#x2122;s triumph at the general election of the Nigerian Bar Association (NBA) which took place last Thursday, for me, attests that a title does not make a brilliant and electable lawyer in the same way a hood does not make a monk. For 22 years, the NBA President prestigious seat had been occupied by only Senior Advocates of Nigeria (SANs) (although Prince Lanke Odogiyo, a non-SAN, became President of the Bar from 2005â&#x20AC;&#x201C;2006 because Chief Bayo Ojo (SAN) vacated the NBA President seat to become the Attorney General of the Federation) to the extent that unlearned public, and, even some young lawyers started believing that the most-exalted and most-coveted NBA seat was only reserved for SANs. But last Thursday quick-silver and dark horse Olumide Akpata broke the jinx, resulting in paradigm shift in the NBA Presidential election. As early as 7 pm last Thursday night, five hours to the completion of voting, Olumide was already coasting to a glorious landslide victory thus leaving his two opponents-Dr. Babatunde Ajibade (SAN) and revered Deacon Dele Adesina (SAN)- sprawling on the ground. At the end of voting, Akpata polled 9,891 votes out of the 18,256 ballots cast to beat his two SANs opponents-Babatunde Ajibade (4, 328 votes) and Dele Adesina (3, 982 votes). But there is a snake in the bramble. Nigeria is engulfed in serous crisis of the rule of law. So this is not the time to gloat over NBA Presidential election victory. This is not the time for Akpata and his supporters to continue to beat their chests in the euphoria of election victory. This is not even the time for Babatunde and Dele to resign to melancholy for having lost an election. As far as I am concerned, there was no victor and no vanquished in the NBA Presidential election. Therefore, beyond the tongues of eloquence and sophistry regarding the election, this is the time for Akpata, Babatunde, Adesina, NBA Exco and, indeed, all Nigerian lawyers to forge cor unum et anima una, espirit de corps or consensus ad idem or unanimity of purpose in order to, first and foremost, salvage Nigeria from the grip of democratic totalitarianism strangulating her to death at the moment reminiscent of the death of George Floyd by the American Police. In order to achieve this feat, the Akpata leadership must insist on the supremacy of the rule of law in contrast to the supremacy of arbitrary and capricious exercise of executive power. Happily, Akpata is a business mogul. He understands that stronger rule of law is critically an important factor in determining the countries that attract dynamic flows of global investment capital. Akpata, I am certain, very well knows that countries with improved rule of law oftentimes experience higher economic growth whereas countries with a declining rule of law oftentimes experience low economic progress and societal prosperity. So the Akpata-led NBA should work hard to re-enthrone rule of law in Nigeria. It is doable: the Akpata-led NBA is capable of bringing back our mad society back to sanity. The NBA has achieved such feat in the past. Those who think that NBAâ&#x20AC;&#x2122;s involvement in the re-ordering of chaotic Nigerian society is recipe for politicization of the NBA are gravely mistaken. Amid the multiplying evil effects of corruption, executive lawlessness, violation of the rule of law and disrespect for court orders in Nigeria between 1987 and 1989, the Alao Aka-Bashorun-led NBA was the bulwark of justice in Nigeria. It was the voice for the voiceless and the oppressed in Nigeria. In fact, at that time, the Alao Aka-Bashorun-led NBA acted as a sort of buffer which the Nigerian society depended on in tracing its way back to reason. The Agbakoba-led NBA (2006-2008) was also a force to be reckoned with. So the Akpata leadership should prove its mettle. At the moment justice is in limbo in Nigeria owing to COVID-19

IF THE RULE OF LAW IS CONTINUALLY SUBVERTED AND THE JUDICIARY SYSTEM IS SUSCEPTIBLE TO POLITICAL INTERFERENCE AND MANIPULATION BY THE EXECUTIVE, NIGERIA WILL BE DOOMED FOREVER

pandemic. Most judicial divisions/jurisdictions across the country especially the Lagos jurisdiction are yet to adopt the new-normal virtual court hearing procedure notwithstanding the Supreme Courtâ&#x20AC;&#x2122;s okaying of it. This is sad. Happily Akpata has cut his teeth as a new millennial innovative lawyer. He has been harping on the new vista which the new technological changes and artificial intelligence have opened up for Nigerian lawyers in the 21st Century. So I expect Akpata to bring this experience to bear on his new job. Our judicial personnel- court registrars, court clerks, court bailiffs, court messengers, etc., are starkly untrained. So let the Akpata NBA leadership figure out ways of training these judicial personnel, (and even judges and practicing lawyers) on how to leverage on the new technology in order to ensure that the administration of justice does not grind to a halt owing to the COVID-19 Pandemic. Administrative injustice begets legal and even social injustice. If for, example, a court bailiff refused to serve the court process of a litigant or a court registrar neglected to bring out the case file of a litigant on a hearing day, the litigant would have suffered tremendous injustice even before his case file got to the judge. Therefore the Akpata-led NBA should get involved in the functions of the judicial personnel who play pivotal role in the administration of justice. Akpata and his team should also beam their searchlight on the Bench. Fiat justicia ruat coelom. â&#x20AC;&#x153;Neither the morning star nor the evening star are as glorious as justiceâ&#x20AC;? (Aristotle). â&#x20AC;&#x153;The brightness of virtues shines above all in justiceâ&#x20AC;? (Cicero). And who dispenses true justice? An incorruptible judge. A God-fearing judge. Therefore corrupt judges demanding and collecting bribes, especially judges selling ex-parte orders should be exposed. Conversely, corrupt lawyers reveling in corrupt and unethical law practice to subvert justice should be sanctioned or de-robed. The Bench should not be reserved for dead woods and lazy bones who could not make a head way in private law practice: the bench should be reserved for the best and the brightest in character and learning. Appointment and elevation of judges should be based on merit not on family connection, political patronage or prebendalism. The NBA knows the candidates applying to become judges better than the NJC. Therefore the view of the NBA should first be sought before and even after short-listing the candidates. Success in private law practice is not only measured in terms of money in oneâ&#x20AC;&#x2122;s kitting in the so-called lucrative areas of law practice: success in law practice is also measured in terms of securing ex gratis the freedom of detainees at the various police stations and the awaiting trial inmates (ATM) in our prisons or correctional centres. So, the Akpata leadership should put pressure on Vice-President Yemi Osinbajo (SAN) (an expert in criminal justice system reforms) and the Federal Attorney-General and Minster of Justice to embark on the much-vaunted reform of Nigeriaâ&#x20AC;&#x2122;s criminal justice system aimed at improving the effectiveness and efficiency in enforcing the fundamental human rights of detainees and bringing offenders to justice in order to bolster the confidence of the members of the public in the fairness of the system. Dumping of young suspects in prison without trial should stop. More juvenile courts should be established to try young offenders. Detainees and ATM who cannot be charged to court within two or three months should be released from detention as stipulated in our constitution. The EFCC and ICPC should be reformed. History beckons the Akpata-led NBA to stand up and be counted. If the rule of law is continually subverted and the judiciary system is susceptible to political interference and manipulation by the executive, Nigeria will be doomed forever.

B ATTLE F OR O SADEBE A VENUE Ă&#x2DC; Ă?Ă&#x161;Ă&#x201C;Ă&#x17E;Ă? Ă&#x2122;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x2013;Ă&#x2039;ĂĄĂ?Ă&#x17D; Ă?Ă&#x2039;Ă&#x2014;Ă&#x161;Ă&#x2039;Ă&#x201C;Ă&#x2018;Ă&#x2DC;Ă? Ă&#x2122;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x2122;Ă&#x161;Ă&#x161;Ă&#x2122;Ă&#x2DC;Ă?Ă&#x2DC;Ă&#x17E;Ë&#x153; Ă¤Ă?Ě&#x2039; ĂŁĂ&#x2039;Ă&#x2014;Ă&#x; Ă&#x201C;Ă? Ă&#x161;Ă&#x2122;Ă&#x201C;Ă?Ă?Ă&#x17D; Ă&#x17E;Ă&#x2122; ĂĄĂ&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x17D;Ă&#x2122; Ă&#x2018;Ă&#x2122;Ă Ă?Ă&#x153;Ă&#x2DC;Ă&#x2122;Ă&#x153;Ă?Ă&#x2019;Ă&#x201C;Ă&#x161; Ă?Ă&#x2013;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x153; ĂĄĂ&#x153;Ă&#x201C;Ă&#x17E;Ă?Ă? John Mayaki

n continuation of its defeatist campaign strategy hinged on blackmail, falsehood and dangerous twisting of facts to both incite and stoke division, the Edo State Chapter of the Peoples Democratic Party (PDP) recently sponsored an open letter asking President Muhammadu Buhari not to meet with Pastor Osagie Ize-Iyamu, the APC partyâ&#x20AC;&#x2122;s candidate in the September 19 Governorship election in Edo State. The letter was purportedly written by â&#x20AC;&#x2DC;Concerned Edo State APC Stakeholdersâ&#x20AC;&#x2122;. Using its well-known and discredited tactics of putting its words into the mouths of non-existent characters, portrayed either as â&#x20AC;&#x2DC;concerned citizensâ&#x20AC;&#x2122; or â&#x20AC;&#x2DC;stakeholdersâ&#x20AC;&#x2122;, the PDP argued, laughably, that by meeting with Pastor Osagie Ize-Iyamu, the president will â&#x20AC;&#x153;rubbishâ&#x20AC;? his campaign against corruption because of the said N700 million case instituted in court by the EFCC, in which the candidate was named as a party. According to the PDP, the case brought before Justice J.M. Umar of the High Court sitting in Benin City, with the suit No. FHC/BE21C/2016, against Pastor Ize-Iyamu and â&#x20AC;&#x153;four other accused personsâ&#x20AC;? represents enough reason for the president to turn his back on the candidate, who emerged as the stateâ&#x20AC;&#x2122;s All Progressives Congress standard-bearer, at the successful primary

election he ratified. The meddlers also said that on account of the above non-issue, the president should divorce himself from the candidate whom he asked all organs of the APC, at the state and national level, to offer all the required support, to win the election. The first pointer to the ridiculous nature of the argument, and indeed the entire affair, is that the PDP, having undergone the stress to commission the writing of the laboriously lengthy essay to police, carefully avoided outlining details when it came to naming all those accused in the said case, and instead settled for concealing â&#x20AC;&#x153;four other accused persons,â&#x20AC;? that revealed its contradiction each time it attempts to shamefully weaponize the case against Pastor Osagie Ize-Iyamu whose soaring popularity and wide acceptance in the state is making them jittery. The reason for this concealment, which is already uncovered by the people of Edo State, who have since ignored their childish tantrums, is because the four accused persons include top officials of the PDP in Edo State. The election of Mr. Tony Aziegbemi as the Chairman of the Edo PDP and the appointment of Mr. Dan Orbih as the Chairman of the Campaign Council of the PDP came after the filing of the N700 million suit by the EFCC, and when

taken to task on this by curious journalists and other interested persons, the PDP defended both appointments on the grounds that allegations and a court case are not evidence of wrongdoing because of the constitutional presumption of innocence which holds that unless convicted by a competent court, accused persons remain innocent of all charges. Besides, the PDP argued that the said sum, in any case, was sourced from private bodies, not from the coffers of government, and it was distributed to its rank and file in the state. Summarily, the PDP, in its own argument and robust defence of its leaders, had already vindicated Pastor Osagie Ize-Iyamu. This is further corroborated by the fact that although the case was for an alleged improper practice that took place in 2015 over the campaign funds of President Goodluck Jonathan when he was seeking re-election, the PDP, in 2016, unilaterally elected and backed Pastor Osagie Ize-Iyamu as its governorship candidate. Even for a toddler, it is clear that the open letter to the president is a political, though unintelligent attempt to arrest the progressive strides of Pastor Ize-Iyamu and the APC to victory on the 19th September election, having won the goodwill of the people of Edo State.

Although these faceless persons claim to write on behalf of Edo people at home and in the diaspora, the mendacious claim is exposed by the deluge of endorsements received daily by Pastor Osagie Ize-Iyamu from the people of Edo State across the world, including prominent members of Mr. Godwin Obasekiâ&#x20AC;&#x2122;s government and family, who are resigning in numbers never seen before, because they are convinced of Pastor Ize-Iyamuâ&#x20AC;&#x2122;s integrity, competence, and a manifesto geared towards moving Edo State forward. We are confident that Mr. President is well aware of the vicious, unprincipled, and mindless attacks on innocent people and their reputation by the PDP, having been a victim of their flexible principles himself. Therefore, he needs very little convincing on why their jejune demand, alongside the shameful insistence on dragging others into their campaign of calumny, stems from their approaching defeat in the forthcoming election. This clarification is made to unsuspecting members of the public who may be tricked into believing the lies of the ailing PDP. It is a party of power-mongers pitted against themselves by their unrestrained ambitions, and still operating on the â&#x20AC;&#x153;do or dieâ&#x20AC;? politics. Mayaki is the Chairman, Edo State APC Media Campaign Council

T H I S D AY ˾ WEDNESDAY, AUGUST 5, 2020

EDITORIAL THE STOPPAGE OF 58 UK-BOUND DOCTORS The attempt by some doctors to leave for the UK holds lessons for the country

he recent prevention of 58 medical doctors from travelling to the United Kingdom has continued to generate debate. The Nigerian doctors, who were already at the Murtala Muhammed International Airport in Lagos had attempted to board a chartered UK-bound ﬂight to London for a ‘training programme’ for which they claimed to have secured clearance. But apparently sensing that the ‘training programme’ was only a cover up brain drain at a period the country was still battling with increased burden of the COVID-19 pandemic, the Nigeria Immigration Service (NIS) decided to abort the trip, citing invalid visas. The NIS, through its spokesman, Sunday James, had said the medical doctors “were refused departure in line with Section 31 subsection 2a and b, on powers conferred on the Comptroller General of Nigeria Immigration Service by the Immigration Act 2015, to prohibit WHILE IT IS THE RIGHT departure of any OF NIGERIAN DOCTORS person under the AND OTHERS TO MIGRATE conditions stated in the Act.” The ABROAD SHOULD THEY CHOSE TO, SUCH MUST BE chartered ﬂight approved for landing DONE PROPERLY in Nigeria, he added “was to carry 42 medical doctors for a training programme, but they were 58 with only two having Visa for entry into UK, a situation that calls for refusal of departure.” Although NES Healthcare, the organisation which arranged for the visa waivers said the UK Visa and Immigration Service (UKVIS) was fully aware of the travel document, and that it was willing to assist the doctors in obtaining the needed visas when they eventually get to London, we endorse the action of the NIS. There seemed to have been a plan between the UK government and the doctors which the Nigerian government was not

Letters to the Editor

privy to. It was therefore proper that the ﬂight was aborted. That is what the UK authorities would have done in similar circumstance.

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

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

ndications have shown that the 58 doctors were among the thousands of Nigerian doctors that applied to work in the UK months ago, and had been told by their employers that they were successful, with promise to facilitate their entry into the country despite the lockdown. NES Healthcare was said to have been contacted to facilitate the travel process without notifying the Nigerian authorities. The doctors were therefore going to the UK to resume their new jobs as against what the NIS was told at the Lagos airport on 10th July. We understand that no fewer than 50 doctors had recently used the same method and cover up under the international lockdown protocol Nigeria put in place to relocate to the United Arab Emirates. While it is the right of Nigerian doctors and others to migrate abroad should they chose to, such must be done properly. The unprecedented times occasioned by the COVID-19 pandemic demands that the UK government liaise with the Nigerian authorities if it hoped to take from the country’s lean health personnel pool. Moving such a large number of medical doctors out of Nigeria in the middle of a health crisis also shows a level of insensitivity on the part of the UK government that is well aware Nigeria does not have the workforce to address COVID-19 should the burden increase beyond what it currently is. However, if the UK needs the help of Nigerian doctors, it should ask properly. But if there is any lesson to learn from the episode, it is that the Nigerian government needs to urgently improve the quality of lives of healthcare professionals. This will not only help to reduce brain drain and medical tourism—two ‘monsters’ that should easily be blamed on insensitivity of the Nigerian government—but also help in the bid to revamp the health sector in the country.

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

Covid-19, Imaging And Communities

OVID-19 affected us all with the speed of a camera’s shutter, snap! and the world changed. It has been an extraordinarily historic moment and a challenging time where the world’s knowledge, experience, innovation and foresight were all tested to the limit. For companies, in the midst of the crisis, consumer health was also a key concern, and while maintaining services they had to observe safety best practices for the greater good. Initially digitally broadcast entertainment experienced an unprecedented upswing, first through increased access to existing material, and then as creatives got more innovative, new types of entertainment gained popularity. Urban music artists from RnB to Hip-hop, Gospel and Dancehall all got on to Versus sessions via Instagram livestream and entertained millions. These interactions ended up reviving digital music sales for artists. Meetings for work continued as video platforms facilitated face- to- face interactions on Zoom and Teams, facilitating continued team collaboration for home bound colleagues. Conferences and expos soon followed suite where the entire engagement could be carried out over Hopin or Got to Meeting platforms. You will notice a golden thread, in that all these widespread forms of communicating, working and relaxing are all visual. Another interesting nuance to this thread was the increase of video content on existing and new social media apps, allowing more people to share their stories from their point of view. Content related to featuring useful tips for entertaining and educating children at home while schools were shut, to sharing home

improvement tips, fashion, cooking and also reporting on current affairs as citizen journalists. Human beings are visual creatures where the human brain processes images 60,000 times faster than the text, while 90% of all information transmitted to the brain is visual. The new normal simply fit our biological make up. People now had little choice but to interact with the world via screens, which was a perfect moment to help people learn new skills which may be useful for what looked to be an uncertain future. Canon turned to its vast network of technicians, influencers and brand ambassadors to create free educational content, focused on improved use of cameras and lenses. The initiative was aimed at supporting people staying safe at home to understand their tools and trade, to become better story tellers as they fulfilled their desire to share their creations with the world. What the imaging industry witnessed in real time, was the rapid change of how consumers were using their photography and video equipment taking it to new and exciting directions. Keeping up with the changing dynamics while fulfilling practical concerns, such as supporting consumers with continued access to equipment. Canon took a leaf from food delivery companies and kicked off a new service for a new reality, where goods went to the customer direct from the retailer rather than through a third party. Very little was going to stop people documenting the evolving situation, and Canon was intent on supporting them every step of the way. These were just some of the factors that the imaging industry had to consider, along with realigning, almost on a weekly basis

at the beginning of the COVID-19 crisis, in order to stay open for business. One key element for many companies that stayed ahead, was the fact that they embraced digitalisation earlier rather than later. Going digital helped companies adapt to the situation better and quicker, as well as to stay in close touch with its customers. Building on an earlier decision to equip all Canon cameras with Wi-Fi connectivity, it made it even simpler for users to share or store their images and videos digitally. Taking internet connectivity a step further, Canon has created a community platform called Canon Connected to allow like-minded enthusiasts to pool their creative content and manage it more effectively from a space dedicated to their art. The saying that luck is what happens when preparation meets opportunity is apt for what was soon achieved. A rich catalogue of educational content was developed quickly from the experience of maintaining the Canon Academy annually. The dynamic programme focused on training youth, amateurs, and professionals alike to evolve into better photographers, cinematographers, print technicians and even designers amongst many other imaging-based trades. That knowledge was turned into a digital archive of multilingual training videos for empowering photographers and videographers across Africa. Canon Connected allowed a network of imaging experts, ambassadors, photographers, filmmakers and other creative personalities, to develop tutorials and share stories for our entire Community. Amine Djouahra, Sales and Marketing Director, Canon Central and North Africa

T H I S D AY Ëž Íł, 2020

FEATURES

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

Tackling Resurgence of Militancy, Sea Robbery Chiemelie Ezeobi writes that the recently flagged off Exercise Calm Waters 11 has recorded some gains in tackling the resurgence of militancy and sea robbery off Nigerian waters, up to the Exclusive Economic Zone

Chief of Naval StaďŹ&#x20AC;, Vice Admiral Ibok-Ete Ibas

Mother Comfort arrested by NNS OSE operatives

iolent attacks against ships and their crews have risen in 2020, with global figure of 77 seafarers taken hostage or kidnapped for ransom since January. This was disclosed by the ICC International Maritime Bureauâ&#x20AC;&#x2122;s (IMB) latest piracy report. According to the bureau, the Gulf of Guinea (GoG), off West Africa is increasingly dangerous for commercial shipping, accounting for just over 90 per cent of maritime kidnappings worldwide. Meanwhile ship hijackings are at their lowest since 1993. The report released on July 15, 2020, states that so far this year, 49 crew have been kidnapped for ransom in the GoG and held captive on land for up to six weeks. â&#x20AC;&#x153;Rates are accelerating, with 32 crew kidnapped in the past three months alone. And they are happening further out to sea: two-thirds of the vessels were attacked on the high seas from around 20 to 130 nautical miles off the GoG coastlineâ&#x20AC;?, it added. With these acts of sea robbery and piracy, the perpetrators, for the former, primarily target vessels in port or at anchorage, ransacking the ships before fleeing, while the other group attacks in waters outside any countryâ&#x20AC;&#x2122;s territory or exclusive economic zone (EEZ). Cost of Insecurity Although these attacks in the GoG are concentrated in waters off Nigeria, (Nigeria has reduced Q3 piracy attacks from 41 in 2018 to 29 in 2019), the resurgence is not one taken lightly by the Nigerian Navy (NN). This is because piracy and armed robbery against ships impose significant costs on the shipping industry, which in turn are passed off to consumers. The non-governmental One Earth Future Foundation, which tracks annual piracy trends, estimated that maritime insecurity in the region cost $818.1 million in 2017, up from $793.7 million in 2016. Stolen goods account for only a small fraction of these costs, the majority of which reflect expenses related to deterring armed attacks on ships (through governmental naval activities and/or privately contracted vessel protection), hazard pay, and insurance costs for ships and cargo. Countries bordering the GoG incur additional costs, including some intangible costs such as offshore attacks deterring investment. Also, many GoG countries also derive significant revenues from port activities, and are thus heavily affected when shipping firms reroute vessels in response to insecurity. According to the Congressional Research Service, rising cases of piracy and armed robbery in the GoG likely reflects the regionâ&#x20AC;&#x2122;s growing prominence in global maritime trade,

â&#x20AC;&#x153;We are carrying out operations in our backwaters to ensure that those that are unable to operate at sea do not have the freedom to terrorise our people back home. We have covered those riverine communities, as I speak with you, my men are already there and we have mounted surveillance." Urging the public to volunteer useful information to the navy, the navy boss said such was needed to wipe off all forms of criminality around the country's waterways.

Sea Supply vessel arrested by NNS NGURU operatives as well as capacity and coordination gaps among many of the regionâ&#x20AC;&#x2122;s navies. Tackling the Resurgence To tackle the resurgence of militancy and sea robbery in and off its maritime domain, the Nigerian Navy (NN) recently flagged off Exercise Calm Waters II. The exercise which was flagged off simultaneously in Western, Eastern and Central Naval Commands, was necessitated by the need to contain the spate of sea robbery, militancy and even piracy, which has posed a threat a sea farers and economic prosperity at sea. At the flag off in Western Naval Command (WNC) at the Nigerian Navy Ship (NNS) BEECROFT jetty, Apapa, Lagos, the Flag Officer Commanding (FOC), WNC, Rear Admiral Oladele Daji, said the exercise was for an initial period of 30 days. Deployment To participate in the exercise, the navy deployed eight ships, two helicopters and a Special Boats Services (SBS) detachment to cover up to 200 nautical miles of Nigeriaâ&#x20AC;&#x2122;s Exclusive Economic Zone (EEZ). Also, gunboats and patrol crafts were deployed to cover the back waters especially

creeks along the Lagos to Badagry flanks where militants were said to have terrorised recently. Daji said naval personnel have already been deployed to cover identified creeks where the militants are suspected to be hibernating, noting that Calm Waters II was simultaneously flagged off across the three operational commands of the navy to smoke out criminals. He said the exercise was aimed at furthering the strategic directive and vision of the Chief of Naval Staff (CNS), Vice Admiral Ibok-Ete Ibas, adding that it would enhance the capacity and capability of the command's fleet. Daji listed the participating platforms as NNS PROSPERITY, NNS EKUN, NNS NGURU, NNS EKULU, NNS OSUN, NNS OSE, TUG RIMA, TUG CDR UGWU and two maritime patrol helicopters. Mission Derivatives On the objectives he said: "We have been conducting series of exercises at the command level. The purpose of OKUN ALAFIA II (Calm Waters II) is in three folds; one, to consolidate on the gains of the previous operations; Western, Central and Eastern Naval Commands to have handshake at sea, so that criminals moving from one area to the other do not have the leeway to do that.

Gains Days after the exercise was launched, the navy recorded some gains which include the arrest of two vessels involved in illegal bunkering activities. Also four suspects were arrested. The operatives apprehended the four suspects for alleged oil theft and recovered eight 50-litre kegs filled with Premium Motor Spirit (PMS). Giving update on the exercise on Monday, the FOC said laudable successes have been achieved in the past 13 days. Daji, who was represented by the Fleet Commander Western Naval Command, Rear Admiral Danjuma Moses, said the exercise party with the help of the Maritime Domain Awareness (MDA) facilities vectored, intercepted and interrogated suspects vessels. Among the arrested vessels was Mother Comfort, intercepted 50 nautical miles off Badagry waters by NNS OSE on Friday, July 24. Daji said the vessel which was found to have expired naval permits and had 12 Nigerians onboard, carried about 240MT of Automotive Gas Oil (AGO). "Another vessel, Sea Supply, was also arrested on Friday July 31, at 8nautical miles South-east of Lagos Fairway Buoy with eight Nigerians onboard carrying 80 metric tonnes of AGO. This same vessel was once intercepted, boarded and searched by NNS Nguru on June 17, at the Altas Cove Single Buoy Mooring area. "Both vessels are currently in our custody, undergoing further investigation, preparatory to handover to appropriate agency for prosecution. "Other arrests made between July 27 and August 3 at Idi Mango, Abule Glass and Akaraba areas consist of four suspects as well as eight by 50-litres PMS filled kegs; several other empty jerrycans and accessories for siphoning of PMS at various locations along the Atlas Cove-Ijegun NNPC pipeline," he said. Assuring Nigerians of the service's commitment to make the maritime domain conducive for legitimate businesses, Daji appealed for more partnership especially with regards to volunteer of useful information.

T H I S D AY Ëž AUGUST 5, 2020

FEATURES

Mapping a Blueprint for Tourism in Sâ&#x20AC;&#x2122;East, Sâ&#x20AC;&#x2122;South Iwonume Ekeghe writes on the blueprint being advocated by the Eastern Nigeria Tourism Enterprise Resource for the South-east and South-south region

he gains of the Tourism industry cannot be underrated given the benefits it brings for any nation. Due to its role as a commercial activity that creates demand and growth for many more industries, tourism not only contributes towards more economic activities but also generates more employment, revenues and play a significant role in development. Having noted the import of the sector, Mr Chibuzor Onyema, a tourism entrepreneur, recently advocated for the Eastern Nigeria Tourism Enterprise Resource (ENTER) as a blueprint for South-east and South-south governments for the development of the zones. Onyema stated that this would serve as a strategic compliment or alternative to oil as a mono economic source for the zones' development. Addressing a virtual press conference in Lagos with select media, Onyema who is one of Nigeriaâ&#x20AC;&#x2122;s brightest brains in domestic and international tourism operations, described the domestic tourism Enterprise Resource as capable of creating initial minimum 1000 jobs across the South-south and South-east States, and indeed other Northern and South-western States if well implemented. "Since international tourism is no longer viable", he noted, the Eastern Nigeria Tourism Enterprise Resource

Onyema

projects was an innovative way by which the Niger-Delta could translate the outcome of the COVID-19

Pandemic into good fortunes. "It highlights already existing natural endowments awaiting full

scale domestic and international tourism utilisation - areas it describes as highly sought-after by international tourism development experts seeking to provide required financing for full construction and implementation of the low hanging fruit tourism projects. "My 11 years of continuous engagement as an internationally certified tourism operator in the United States of America, Southern Africa and locally with Nigerian Tourism Development Corporation (NTDC) gave me a bird's eye view that underscored this research. This could allow for maximum job creation and effective youth engagement", he stated. Reacting to the development, His Royal Highness Igwe (Dr.) Patrick Acholonu, the Igwe of Orlu ancient Kingdom of Imo State, who graced the press conference, endorsed the project and congratulated the founder of ENTER for his foresight. Igwe Acholonu called on Niger-Delta Governors and those of the Northern and South-western States to engage Onyema in exploring effective ways to fully benefit from this free and cost effective project in their various states, in the overall interest of their citizens. Onyema, a Babcock University alumnus, is President/CEO of Elastic Tours Limited. He doubles as a Chartered Tour Operator and Lifestyle Instructor.

Fragrance Parley for Perfumers Sunday Ehigiator writes that the recent fragrance parley held by Seindeâ&#x20AC;&#x2122;s Signature was for consumers to have better knowledge of fragrances before purchase

ith an aim of embedding precise knowledge of fragrance in fragrance-lovers, a.k.a â&#x20AC;&#x2DC;Frag-headsâ&#x20AC;&#x2122;, popular Perfume Influencer and CEO, Seinde's Signature, Seinde Olusola, in what he tagged â&#x20AC;&#x2DC;Fragrance Parleyingâ&#x20AC;&#x2122;, threw his fragrance studio open to share experiences and sample his collections in Lagos. The recently held meeting, saw over 500 fragrances on display as the frag-heads, among whom was also, popular Nigerian Perfumer, and brain behind â&#x20AC;&#x2DC;Contagiousâ&#x20AC;&#x2122;, a Nigerian

made designer-fragrance with global impressions, Catherine Omai, seized the opportunity to share ideas and experiences. Speaking with THISDAY, Olusola noted that the idea of the meeting was for â&#x20AC;&#x153;people that are in this journey of fragrance, and probably have just been blind-buying or buying anything they want but have better knowledge of fragrances before purchasing them. â&#x20AC;&#x153;This studio is just a way for them to come experience all the fragrances so they can make conscious decision on what to buy or not what to buy. â&#x20AC;&#x153;It's unfortunate because the Nigerian

Fragrance sample session by Seinde's Signature

environment just buy anything. They buy fake oils; buy Dubai perfume which may even have a reaction on their skin and stuffs like that. â&#x20AC;&#x153;But the awareness is coming up gradually and everybody is getting to be aware of what is available for them to use and enjoy. All these things are heaven made when you wear the right one in the right way. â&#x20AC;&#x153;If you don't, maybe you have something like flies running after you. But trust me, if you start wearing now, you would never want to stop.â&#x20AC;? Speaking on meeting with the Frag-heads, Olusola said, learning is a continuous thing. â&#x20AC;&#x153;You can't stop learning. So if you meet anybody and you're able to get one or two things from them and you can discuss intelligently with them, these are obviously people that know about perfume. So, I'm going away with what I'm going to be looking for after they leave.â&#x20AC;? Also speaking on her experience at the event, Omai said, â&#x20AC;&#x153;for someone that has been in this industry for 10 years in Nigeria, it is very refreshing to be able to meet with like-minds, go through fragrances and have conversations that elevate the spirit of my being. â&#x20AC;&#x153;You know how you get stimulated by conversations; the experience here at Mr. Seinde's experience center has really done that for me. It has given me passion. It has given me a reason to feel connected. â&#x20AC;&#x153;I've had great connection with the people that I've met here on a level that is just wowing to me and I can only thank Mr. Seinde for opening his experience center to us to have this kind of liberating, exciting and exhilarating experience.

â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s amazing to connect with the right people in the industry. It's really refreshing for me and he has given me a new perspective about fragrances in general.â&#x20AC;? Relating his experience, Popular Perfume Dealer, and C.E.O, Frag Head Lagos, Dumzo Ajufo, described Seinde as not just a mentor but a force to reckon in the fragrance industry. â&#x20AC;&#x153;Seinde's Signature is not just a client; he's also a friend and mentor in this business. He's been into it for over 40 years. Coming here is like; â&#x20AC;&#x2DC;I'm a kid in the candy store right now.â&#x20AC;&#x2122; The excitement is so real.â&#x20AC;? For Akinbayo Akinboungbe, who is a lawyer, fragrance lover and collector, he was left astonished with all he had experienced. â&#x20AC;&#x153;I don't even know where to start from. What I saw here is not just mind blowing but it depicts a connection between man and perfumery. There is a connection and if you look at Mr. Seinde for example, I mean I am meeting him in person for the first time and he's a wonderful personality. â&#x20AC;&#x153;Smelling good transcends. It moves to the realm of loving what nature has created which is what fragrances are all about really. It is part of your human existence which we should all enjoy. â&#x20AC;&#x153;My experience here, is been fantastic, it is wonderful. I would definitely want to come back here, over and over again. I have had the opportunity to meet one or two of the best in the business. â&#x20AC;&#x153;I've met Frag Head in Lagos, I've met Katherine, I mean some people who know about fragrances and when you interact with people like that, it gives you so much joy other than people who just say oh, just give me anything.â&#x20AC;?

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢T H I S D AY

T H I S D AY Ëž ÍłË&#x153; 2020

BUSINESSWORLD

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

Íą ÍŻ Ë&#x153; Í° ÍŽ Í° ÍŽ MONEY MARKET OVERNIGHT OBB

REPO 2.10 1.40

CALL 1-MONTH 3-MONTH

3 4 6

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

610.85% 0.78% 8.53%

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

8.35% 26.95%

EXCHANGE RATE ÍąÍśÍŻËšÍŻ ĚŠ ĚŠ

Quick Takes Allianz Insurance Pays N1.8bn Claims

LOOKING AHEAD

L-R: Assistant Executive Secretary, Nigerian Council of Registered Insurance Brokers(NCRIB), Tope Adaramola, Vice President, Tunde Oguntade, and Executive Secretary, Fatai Adegbenro, during the Annual General Meeting of National Association of Insurance and Pension Correspondents in Lagos... recently

FG Pushes for Rapid Nationwide Adoption of Gas for Transportation Chineme Okafor in Abuja The federal government has said it is pushing fast for Nigerians to adopt natural gas as an alternative to petrol and diesel for transportation vehicles. In this regard, it stated that it has set up a committee to drive the adoption of Autogas and natural gas vehicles in the country. Justice Derefaka, who is the Technical Adviser (TA) on Gas Business and Policy Implementation to the Minister of State for Petroleum Resources, Mr. Timipre Sylva, disclosed this in a statement. Derefaka, is also the Program Coordinator for the Nigerian Flare Gas

ECONOMY Commercialisation Programme (NFGCP). He explained that a meeting was recently held in Abuja between the Committee of the National Gas Expansion Programme (NGEP) and some stakeholders in the oil and gas industry, in which the decision to press forward on the mainstreaming of gas for transport in Nigeria was reached. According to him, the NGEP was inaugurated by Sylva in January 2020, as the mechanism to boost domestic utilisation of natural gas within the short and medium term. â&#x20AC;&#x153;As part of the programme, an Autogas and Natural Gas Vehicles (NGVs), that is Autogas vehicles

powered by liquefied petroleum gas (LPG) and Natural Gas Vehicles (NGVs), an alternative fuel vehicle that uses compressed natural gas (CNG) or liquefied natural gas (LNG) sub-committee was constituted with the sole aim to drive the adoption of Autogas and NGVs as an alternative fuel in Nigeria,â&#x20AC;? he added. He noted that as part of the federal governmentâ&#x20AC;&#x2122;s strategy to re-position the countryâ&#x20AC;&#x2122;s gas subsector, the ministry commenced the implementation of critically conceived initiatives in the sector. These, he explained would foster efficiency and attract investment in the gas value chain. Nine priority projects to harness the countryâ&#x20AC;&#x2122;s gas resource, he added have been mapped out

for execution. They included, rapid growth of the LPG/CNG/ LNG market, development of support-infrastructure for the gas sector, investment and domestic growth of the sector, as well as the promotion of natural gas usage in Nigeria as an alternative fuel choice. â&#x20AC;&#x153;It is expected that this will stimulate economic growth, further improve our energy mix, drive investments and provide jobs in Nigeria,â&#x20AC;? Derefaka stated. He further said that the NGEP would collaborate with the Nigerian National Petroleum Corporation (NNPC) to co-locate Autogas and NGV outlets at its retail service stations across the country.

Businesses Urged to Embrace Foreign Equity Investment Dike Onwuamaeze The Chairman of Invest Africa, Mr. Rob Hersov, has advised Nigerian entrepreneurs to promote successful international partnership and equity investment in their businesses. Hersov, said the winning business formula has always been, â&#x20AC;&#x153;local expertise plus international strategic capital equals to market leading businesses.â&#x20AC;? He gave the advice recently, when he presented a paper on, â&#x20AC;&#x153;Access to International Capital and Funding Solutionsâ&#x20AC;? at a Webinar that was hosted by the Lagos Chamber of Commerce and Industry (LCCI) with the theme â&#x20AC;&#x153;Access to International Capital and Funding Solutions for Nigerian Businesses.â&#x20AC;? The chairman of Invest Africa

ECONOMY stated that the right foreign equity partners could be hugely beneficial and help take local businesses to the next level. Hersov, who was the keynote speaker at the conference, emphasised that Nigerian entrepreneurs were at no risk of being dis-intermediated with the injection of international equity capital into their businesses. He said: â&#x20AC;&#x153;If you develop a strong business relationship with the right funding partners, investors will seek you out to provide further opportunity to create scale through the acquisition of competitors or regional expansion.â&#x20AC;? Hersov, however, noted that African businesses would rather

focus on taking on debt which then puts strain on their business and reduces their ability to grow than to give away equity to will international investors. The President of the LCCI, Mrs. Toki Mabogunje, quoting Central Bank of Nigeriaâ&#x20AC;&#x2122;s statistics to have disclosed that the total gross credit to the private sector stood at N18.90 trillion at end-June 2020, which represented about 13 per cent of the Gross Domestic Product (GDP). Similarly, the World Bank statistics showed that Nigeriaâ&#x20AC;&#x2122;s 10.5 per cent of the GDP domestic credit to private sector in 2019 was one of the lowest in world, she added. â&#x20AC;&#x153;It is therefore evident from the statistics above that the size of credit to private sector (as

percentage of GDP) is largely insufficient to meet the demand for finance by private sector thereby creating a huge funding gap and liquidity challenge to meet working capital requirements and finance new projects and expansion of existing ones,â&#x20AC;? she said. However, the Central Bank of Nigeria (CBN) has launched policies that would improve credit penetration in the Nigerian economy. According to the Senior Manager, Development Finance Department of the CBN, Mr. Zephaniah Chinedu, the central bank has found a way through the commercial banks to create enabling environment in which a bank that is committed to funding businesses would find opportunities to do so.

AllianzNigeriaInsurancePlc,alocaloperatingentityofglobalinsurance company, Allianz, has said it paid a total of N1.8 billion claims to its customers in the ďŹ rst quarter 2020. Similarly, the company in the ďŹ rst quarter of 2020, it also reported a Gross Written Premium (GWP) of N4.2 billion, showing 47 per cent growth in its gross written premium for the period, compared to the N2.9 billion premium recorded during the same period in 2019. InvestmentincomestoodatN301milliondespitethefallininvestment and treasury bill rates. Commenting on the performance, the Chief Operating OďŹ&#x192;cer of the Company, Owolabi Salami, said the success attained so far could be attributed to the tenacity and bravery of the people who work in the organisation, adding that he was proud to see how fast his people adapted and rose to the challenge in these unprecedented times. â&#x20AC;&#x153;The company will remain unwavering to deliver on its promise of payingclaimsdespitethepresenteconomicdownturn,â&#x20AC;?Salamiadded. Herecalledthatearlierintheyear,AllianzNigeria,launchedanationwide campaign to settle motor claims within 60 minutes, saying that to date scores of claims have been settled within the stipulated time. â&#x20AC;&#x153;It is clear that Allianz Nigeria Insurance Plc is at the forefront of revolutionising the insurance industry especially in the area of satisfying customersâ&#x20AC;&#x2122; needs. â&#x20AC;&#x153;Recording these achievements in a time of extreme decline in sales and corresponding decline in proďŹ ts, we have scaled through Q1 with promising results all keeping our promise to serve our customers,â&#x20AC;? he added. The Allianz Group is one of the worldâ&#x20AC;&#x2122;s leading insurers and asset managers with more than 92 million retail and corporate customers.

â&#x20AC;&#x2DC;Moniya-Iseyin Road Ready in Januaryâ&#x20AC;&#x2122;

The contractor handling the Moniya/Ijaiye/Iseyin road, in Oyo State, Kopek Construction Company Limited, has assured that the project will be completed by January, 2021. The ďŹ rm stated that it will not compromise quality and standard to get the job done despite the disruption caused by the coronavirus pandemic. TheProjectManageroftheroad,Mr.PaulChamoun,whileaddressing journalists during a tour to the site, said though ďŹ ve weeks had been lost due to the lockdown, work on the 65-kilometre road has reached 40 per cent completion. Heassuredthatdespitethevirusimpactandtheunfavorableweather due to rains, work was progressing at the project site and would be completed on time without compromising quality, stating that the projectwhichwasawardedinJanuary, 2020andbilledforcompletion within twelve months. Reacting to the eďŹ&#x20AC;ects of COVID-19 on the ongoing road project, Chamoun lamented, â&#x20AC;&#x153;truly, COVID-19 deadly pandemic has disturbed our planning for sure just like everybody in all the world.â&#x20AC;? According to him, â&#x20AC;&#x153;You know we cannot work every day with the same pace of work that will be achieved on a daily basis as planned because of the rain. And, as everybody knows, we are concern with the quality, we are not going to compromise with the quality. So, if there is rain and there are some jobs or activities that cannot be done because it will aďŹ&#x20AC;ect the quality, we will not do it.

Weather Boosts Ivory Coast Cocoa

Rains were mainly below average last week in most of Ivory Coastâ&#x20AC;&#x2122;s main cocoa-growing regions, but plenty of small and average pods were developing well for a strong start to the October-to-March main crop, farmers said on Monday. According to Reuters, Ivory Coast, the worldâ&#x20AC;&#x2122;s top cocoa producer, is in its April-to-October rainy season and several farmers said they were happy with the level of downpours but more sunny spells would be needed to strengthen the crop. In the centre-western region of Daloa, which produces a quarter of national output, farmers said there was no longer a danger that trees carrying plenty of fruit would be damaged in the next two months. â&#x20AC;&#x153;The trees have yielded well. Harvesting will start very slowly from the end of this month,â&#x20AC;? said Albert Nâ&#x20AC;&#x2122;Zue, who farms near Daloa. Farmers from across the cocoa belt agreed. They said a mix of sun and rain from mid-August would help.

â&#x20AC;&#x153;We have been very thoughtful in how we have approached this, and we will continue to be. Our goal is to provide all the support we can at this time MD/CEOWema Bank

Mr Ademola Adebise

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BUA Cement Beats the Odds Despite the challenges brought by COVID-19 pandemic and other economic headwinds, BUACement Plc grew its profit after tax for the half year ended June 30, 2020, by 14 per cent, writes Goddy Egene

he spread of the Covid-19 pandemic to Nigeria sent panic among citizens, a development that led to the lock down of economic activities for months. After the partial reopening of the economy, apprehensions over the impact of the lockdown remain very high. At the stock market, for instance, most investors have been adopting cautious trading, awaiting the results of companies for the half year(H1) ended June 30, 2020, before making major investment decisions. As expected, companies have been releasing their H1 results with mixed grill. While some have posted positive performances despite the covid-19 challenges, others suffered reduced fortunes due to the pandemic and other economic headwinds. However, BUA Cement Plc, which is one of Africaâ&#x20AC;&#x2122;s largest cement producers, beat the odds and reported improved revenue and profitability for the H1 2020. The company reported a revenue of N101.3 billion in 2020, up by 12.7 per cent from N89.9 billion posted in the corresponding period of 2019. Operating profit grew by 7.0 per cent from N38.1 billion to N40.8 billion, while profit before tax (PBT) rose 9.8 per cent to N39.2 billion, from N35.7 billion. Profit after tax (PAT) grew faster by 13.7 per cent, from N30.61 billion in 2019 to N34.8 billion in 2020. Earnings per share printed at N1.03 in 2020, showing an increase of 14.4 per cent compared with N0.90 recorded in 2019, thereby raising the hopes of higher dividend payout at the end of the full year. A further breakdown of the results showed that cement volume dispatched rose by 7.9 per cent from 2,282 kt inâ&#x20AC;&#x2122;2019 to 2,463 kt in â&#x20AC;&#x2122;2020, underpinned by the growing market acceptance of the companyâ&#x20AC;&#x2122;s COVID-19 business continuity plan. Also during the review period, the company entered into strategic alliances for the supply of Liquefied Natural Gas (LNG) for the Kalambaina operations and management of its mining operations to boost energy efficiency and reduce energy costs. Speaking on the results, Managing Director of BUA Cement Plc, Yusuf Binji, said the continued impressive performance in 2020 despite the challenging operating environment occasioned by the covid-19 pandemic, was a pointer to the value and strength of the BUA Cement brand and product offerings as well as a nod to the excellent implementation of the companyâ&#x20AC;&#x2122;s Business Continuity Plan which ensured that BUA Cement was able to withstand the impact of the pandemic in the period under review. He said: â&#x20AC;&#x153;Our resilient performance continues to showcase the value and strength in our product offering alongside our strategic business model. Our revenues increased by 12.7 per cent to N101.3 billion from the corresponding period in 2019 whilst operating profits increased by 7.0 per cent, from N38.1 billion in 2019 to N40.8 billion in 2020. Equally, EBITDA margin improved in this quarter to 48.1 per cent - an improvement from 45.6 per cent in first quarter (Q1), 2020.â&#x20AC;? Binji explained that in a bid to further drive cost efficiencies and sustainability, they entered into strategic alliances for the supply of Liquefied Natural Gas (LNG) at the Kalambaina, Sokoto State and the management of our mining operations. According to him, given these deliberate and

Rabiu

strategic choices amongst other cost management efforts, they continue to combine development and innovation into their offerings and activities. Speaking on the on impact of the pandemic on the business, MD said: â&#x20AC;&#x153;Despite the prevailing economic conditions, we are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business model but also provides an opportunity for accelerated development. We will continue to push to new markets aided by a focused distribution strategyâ&#x20AC;? Binji disclosed that BUA Cement has also been actively involved in alleviating the impact of the virus on the most vulnerable in society while also supporting the governmentâ&#x20AC;&#x2122;s efforts by providing foodstuff, PPEs and medical equipment to host communities amongst others. â&#x20AC;&#x153;BUA Cement is committed to quality - a differentiating attribute, driven by its people, innovation and technology and positioned to solving Nigeria and Africaâ&#x20AC;&#x2122;s challenges while driving economic growth and development,â&#x20AC;?

Binji added. In an apparent move to expand its operations and boost its performance going forward, BUA Cement, last month announced its plans to set to establish a three million metric tonnes cement plant and 50 megawatts power plant in Guyuk and Lamurde local governments of Adamawa State in the North-Eastern region of Nigeria. The Chairman of BUA, Abdul Samad Rabiu, disclosed this when he led the BUA Cement management team on a courtesy call to the Adamawa State Governor, Ahmadu Fintiri in Yola. According to Rabiu, preliminary findings show that the two local governments are reputed to have good quality of limestone deposits, stating that BUA Cement is ready to begin the investment in the state. He added that the BUA will use new technologies to supply power to the proposed cement plant and communities of Guyuk and Lamurde in addition to providing three thousand direct and five thousand indirect jobs. The chairman stressed that the Guyuk Cement

Plant will be the major investment in the North East by BUA and solicited for support of Governor Fintiri to set up the factory. Rabiu said the company made a decision to source its raw materials locally and it has invested billions of dollars in various sectors across Nigeria and therefore urged the state government to support BUA to actualise the Guyuk Cement project. Before now, Rabiu has always stressed the companyâ&#x20AC;&#x2122;s commitment to the creation of value for the benefit of shareholders and maintaining its focus on outperforming the Nigerian cement industry across key indices through a laser-like commitment to excellent products and service delivery, operational efficiency as well as maintaining leadership position in their home markets. This commitment, he said, led to the merger of Cement Company of Northern Nigeria (CCNN) and Obu Cement Company to create BUA Cement Plc that is currently the third largest firm on the Nigerian Stock Exchange (NSE) by capitalisation. Rabiu had said: â&#x20AC;&#x153;The merger with Obu Cement will create an entity with increased production capacity. We are of the opinion that the proposed merger will create a platform where significant synergies can be obtained for the benefit of our shareholders, employees, customers, distributors, suppliers and the broader economy. He noted that in addition to meeting the demand from customers in their core regions in the country, the enlarged company would be positioned to distribute its products in new geographical markets, creating the potential for additional shareholder value creation. In terms of operational efficiencies, Rabiu noted that merger would provide opportunities for significant cost savings and improved operational efficiencies by streamlining operations and optimising the use of combined resources. On economies of scale, Rabiu said: â&#x20AC;&#x153;The merger will provide a platform where the enlarged company benefits from economies of scale in procurement, distribution and manufacturing of the products offered to our customers. We expect the benefits accruing from greater economies of scale to accrue to many stakeholders.â&#x20AC;?

Entrepreneur Unveils Fellowship Program As a way of giving back to the society and to encourage aspiring and fledgling entrepreneurs, Chidi Nwaogu, Nigerian serial tech entrepreneur and software developer has decided to impact 10,000 professionals through an initiative called â&#x20AC;&#x153;Savvy fellowship.â&#x20AC;? The initiative is a global fellowship program for those passionate about solving some of Africaâ&#x20AC;&#x2122;s most pressing problems through innovation. Savvy Fellowship is for those who want to build their own impact-driven business without much knowledge and for those who own an early-stage business with the zeal of growing

and scaling their impact into new markets. This initiative is a 12-week elearning, assessment, and mentorship program, where individuals learn everything from ideation to venture-scaling with successful fellows at the end of the program receiving a certificate of completion to share with their professional network. Asking Nwaogu, why he decided to venture into starting a fellowship at this difficult time in the world, he explained that COVID-19 pandemic has rendered many people jobless. â&#x20AC;&#x153;I have decided to start the Savvy Fellowship with the main aim of

equipping passionate individuals with the necessary knowledge and skill they need to start their own impact-driven business and succeed as entrepreneurs. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s no news that every day, I love sharing with others what Iâ&#x20AC;&#x2122;ve learned from my experience as an entrepreneur, and Savvy is just an extension of that personal journey of sharing for me,â&#x20AC;? Nwaogu, co-founder at Savvy, multi-award-winning serial entrepreneur, and author of the â&#x20AC;&#x2DC;Dear Entrepreneurâ&#x20AC;&#x2122; book series said. He further explained that, Savvy is a 12-week-long virtual fellowship program that runs throughout the

year. Some of the things to learn as Savvy Fellows include fundraising for their business, building the right team to execute their business strategies, building buzz around their product or service, achieving product-market fit, scaling into new markets and verticals, and building customer loyalty and retention adding that Savvy Fellowship will kick off with a rigorous 12-weeks e-learning experience for successful applicants. Savvy Fellows get to learn how to start, build, and scale an impact venture. Using visual presentations, they get to answer all the relevant questions they need to kick start

their impact venture, gain early traction, achieve product-market fit, and scale into newer markets. Additional benefits for the participants will include â&#x20AC;&#x2DC;understanding their customerâ&#x20AC;&#x2122;, â&#x20AC;&#x2DC;building a product or service that effectively solves their key challengesâ&#x20AC;&#x2122; and â&#x20AC;&#x2DC;effectively positioning their solution in the market.â&#x20AC;&#x2122; While Savvy is for every impact entrepreneur, no matter what stage their venture isâ&#x20AC;&#x2122;, Nwaogu explained. Savvy Fellowship launches on August 4, 2020, with its call for application. There is no cohort, no application deadline, and no ethnic restriction.

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CBNâ&#x20AC;&#x2122;s Covid-19 Intervention Rasheed Hassan After the COVID-19 pandemic spread to Nigeria, the private sector Coalition Against COVID-19 (CACOVID) rose to the occasion. Led by the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, this coalition has been able to pool together, as at the time of going to press, N27.1 billion to be used to support the World Health Organisation (WHO), the federal government, and the Nigerian Centre for Disease Control (NCDC) in the fight against the pandemic. The funds are also expected to help alleviate some of the economic hardships resulting from the pandemic. Before the involvement of the private sector, Emefiele, had roused the apex bank to put forward its initiative on how to confront the pandemic and reduce its negative impact on the Nigerian economy. After thinking through the situation, he stated that while the country is genuinely worried about the devastating impact of the pandemic, it was important to acknowledge that Nigeriaâ&#x20AC;&#x2122;s ability to restore the growth of her economy was and still is dependent on how the government and people address the public health crisis engendered by it. He followed this accurate assessment of the whole scenario with the CBNâ&#x20AC;&#x2122;s launch of a N100 billion healthcare intervention fund. The idea was to ensure that practitioners in the pharmaceutical and healthcare sectors are able to access finance at single digit rate through this fund. The stated objective is to improve the capacity of the nationâ&#x20AC;&#x2122;s health system to address emerging public health challenges. The objectives of the CBNâ&#x20AC;&#x2122;s intervention are hinged on the need to reduce the tendency on the part of Nigerians to seek medical help abroad, a habit that had become a scourge on the nationâ&#x20AC;&#x2122;s effort to conserve foreign exchange. Also, it is intended to provide long-term, low cost finances for healthcare infrastructure development that would lead to the evolvement of world class healthcare facilities in the country. That the interest rate on this facility is within a single digit range of not less than five per

EmeďŹ ele

cent and not more than nine per cent, is a clear indication that it will catalyse and improve access to affordable credit by indigenous pharmaceutical companies to expand their operations and comply with the World Health Organisationâ&#x20AC;&#x2122;s Good Manufacturing Practices (WHO GMP). Furthermore, it is the intendment of the apex bank to use the facility to support the provision of shared services through one-stop healthcare solution to enhance competition and reduce the cost of healthcare delivery in the country. This will also encourage greater research and development in Nigeria of drugs and vaccines that would help prevent the spread of the virus. There is already a framework in progress under which grants and long term facilities will be provided to researchers, science institutions and biotechnology firms to develop the Nigerian Vaccine. What is important is the CBNâ&#x20AC;&#x2122;s appreciation of the enormity of the problem at hand which has made it aware of the pertinence of involving other interest groups. Without being prodded, it understood that it may not be able to actualize the laudable objective on its own. That may

have influenced its decision to bring on board private sector players under a coalition against the pandemic. Though inspired by it, the apex bank ceded the operation of the coalition to the private sector which, based on a recent media outing, is deploying the fund so far realised and which is believed to be worth well over N27 billion to stated causes. As proved by what is already on ground, the resources put together by the coalition is actually being deployed to mobilizing even further private sector thought leadership which aims at raising public awareness and buy-in for COVID-19 prevention while at the same time providing direct support to strengthen the healthcare sectorâ&#x20AC;&#x2122;s capacity to respond to the crisis. In the 36 states of the federation and the Federal Capital Territory (FCT), there is emerging evidence that the private sector, driven by the CBN, has been able to procure needed Isolation centres, medical equipment and is in the process of providing close to 4,000 hospital beds across the country which will serve as a significant boost towards the efforts at containing the spread of COVID-19. Again, we commend the apex bank and corporate Nigeria for accepting that the era of government alone is gone for good. It is from this perspective that we worry about the sustainability of ongoing collaboration that has the potential to make the nationâ&#x20AC;&#x2122;s healthcare system internationally competitive. The Managing Director and CEO of the Aliko Dangote Foundation, Zouera Youssoufou,, Dangote Groupâ&#x20AC;&#x2122;s representative in CACOVID, said that their activities are executed with ease because of the presence of the partners all over the country. These partners help to handle the logistics in those locations. And just like the CBN governor had assured, Youssoufou stated that all of the coalitionâ&#x20AC;&#x2122;s accounts are going to be audited by KPMG and those accounts will be made public. As the number of confirmed cases in the country continues to rise, the CACOVID has executed plans to increase the number of isolation facilities available to be used by the NCDC. The first phase of this is the completion

of isolation centres in six states including the FCT, while the second phase is the creation and equipping of isolation centres in the remaining 30 states of the nations. For the first phase, the construction of the isolation centre at Yaba in Lagos state is still ongoing, with a budget of N1 billion. A 66-bed capacity Isolation Centre fully refurbished and equipped by CACOVID, at the cost of N200 million, has been handed over to the Kano State Government. Youssoufou explains that in all of these transactions, no cash is given but the CACOVID purchased the ventilators, PPEs, testing kits, and delivered and installed the equipment before handing over to the state government or the NCDC. The specialist hospital at Sobi, Ilorin in Kwara state has also been upgraded to a 100-bed facility and handed over to the state government. Similarly, the Rivers State Government received a fully equipped isolation centre in Port Harcourt, while Enugu State received some beds and equipment to boost its isolation facility. Also, CACOVID partnered with THISDAY and Arise Media group and others to transform the THISDAY Dome in Abuja into a 360-bed isolation and treatment centre. The CACOVID is also funding part of the Surveillance Outbreak Response Management and Analysis System (SORMAS) and providing for logistics cost of ambulances and movement of patients. To further assist the testing process, the group launched a screening tool which administers a 5-stage questionnaire for users to determine symptoms they might be experiencing, preexisting health conditions, recent travel history, and exposure to confirmed cases or risk zones like healthcare facilities. It is commendable that the CBN, after setting the CACOVID in motion, reverted to its role as a regulator. This will enable it to monitor and evaluate the operations of the coalition to ensure that its activities are in line with the principles and objectives of the coalition. t )BTTBO B QVCMJD BGGBJST DPNNFOUBUPS JT CBTFE JO "CVKB

Business Right-sizing and Statutory Obligations Victor Onyenkpa and Adedolapo Adebayo Businesses across the world have been severely affected by the COVID-19 pandemic. And while many governments have put together packages to tide the most affected sectors through this very difficult time, there is no doubt that some businesses will simply not survive this period. Back home in Nigeria, many companies are expectedly developing their survival strategies. Business rationalisation, especially right-sizing the workforce is an item that is on the table, either for immediate implementation or for implementation in the not too-distant future. Naturally, contract staff are the first set of staff considered for lay-off, as the services they provide are deemed non-core to the business. Some companies are considering converting some of their permanent staff to â&#x20AC;&#x2DC;contract staffâ&#x20AC;&#x2122; in the hope of reducing compliance cost of statutory requirements. Therefore, some companies have managed this by outsourcing the provision of contract staff to a third party company (which therefore takes on the statutory obligations of an employer for such workers), while others have simply engaged some of the workforce as â&#x20AC;&#x2DC;contract staffâ&#x20AC;&#x2122; and on that basis, considered themselves absolved of the duties that an employer owes an employee. The reality, however, is that it is more complicated than that. The first question that needs to be answered is whether the contract is a â&#x20AC;&#x153;contract of serviceâ&#x20AC;? or a â&#x20AC;&#x153;contract for serviceâ&#x20AC;?. Afterall, even the so-called permanent staff are employed under â&#x20AC;&#x153;contractâ&#x20AC;?. A contract of service (also known as employment contract) is one between an employer and an individual who then becomes an employee. The Blackâ&#x20AC;&#x2122;s Law Dictionary defines an employee as â&#x20AC;&#x153;a person who works in the service of another person (the employer) under an express or implied contract of hire, under which the employer has the right to control the details of work performanceâ&#x20AC;?. This infers that there is a scope of employment within which the employee performs his obligations. A contract for service on the other hand, is defined

Malami

by the online Law Dictionary as â&#x20AC;&#x153;a deal for a work taken upon by anyone who is self-employed. He or she is free to employ others to complete the job, he or she will be the only one responsible for completing it in a satisfactory mannerâ&#x20AC;?. This implies that the independent contractor is not under the control of the service benefactor, but he is responsible for delivering the service as requested. From the above, the determination of whether a contract is â&#x20AC;&#x153;of serviceâ&#x20AC;? or â&#x20AC;&#x153;for serviceâ&#x20AC;? is a matter of fact and not necessarily what type of contract the parties say they have. Some of the conditions that are evaluated in determining the type of contract that is in operation are: r 8IFSF UIF JOEJWJEVBM JT TVCKFDU UP UIF DPOUSPM of the contracting party, he is likely to be deemed an employee while where an individual works autonomously and is not subject to such control, he is likely to be an independent contractor. r 8IFO B DPOUSBDUJOH QBSUZ EFUFSNJOFT UIF details of an individualâ&#x20AC;&#x2122;s work and specifies the conditions of the work, the individual is more likely an employee. However, if the individual is

only obligated to provide the finished/completed product to the contracting party, he is more likely to be a contractor. r 8IFO UIF DPOUSBDUJOH QBSUZ QSPWJEFT the required materials or training needed by the individual to perform his service, he is typically seen to be an employee. On the other hand, a contractor is expected to be an expert and would therefore not require training or materials from the contracting party. Aside from the above, another widely accepted test in determining an employee and a contractor is the ABC test. Similar to the differences highlighted above, the ABC test uses three major conditions to determine if an individual is an employee or a contractor. The 3 conditions as found in the Blackâ&#x20AC;&#x2122;s Law Dictionary are where the individual â&#x20AC;&#x153;â&#x20AC;Ś (A) is free from the control of the employer, (B) works away from the employerâ&#x20AC;&#x2122;s place of business, and (C) is engaged in an established trade.â&#x20AC;? Judicial Precedence Although this has not been a matter for adjudication in Nigeria, there are several established cases in other jurisdictions. In a recent ruling in India in the judgement between Bharat Heavy Electricals Limited (â&#x20AC;&#x153;BHELâ&#x20AC;&#x153;) vs. Mahendra Prasad Jakhmola & Ors (Civil Appeal No. 1799-1800 of 2019), the Supreme Court of India reiterated the basic tests to be applied in determining whether contract labourers can be classified as direct employees. BHEL had entered into an agreement with a contractor to engage contract labourers in its factory in North India. The employment of certain contract labourers was then terminated by BHEL, following which the contract labourers approached the Labour Court seeking reinstatement. The Apex Court, in order to decide the dispute, relied on two of the well-recognized tests to find out whether the contract labourers were the direct employees of the principal employer: (i) whether the principal employer pays the salary instead of the contractor; and (ii) whether the principal employer controls and supervises the work of the employeeâ&#x20AC;?. It was

determined by the Supreme Court of India that the contract labourers are not direct employees of BHEL on the basis that the contractor was responsible for paying them and that BHEL only exercised secondary control over the employees since the contractor was responsible for assigning the labourers to BHEL. In this case, the court relied on a two-prong test in determining if the labourers were in fact, direct employees and BHEL had same obligation to them, as it would to its employees. Another interesting judgement to consider is the ruling in the case between Uber BV and some of its London drivers with whom it had signed an independent contractor agreement. On 19 December 2018, the Court of Appeal of England and Wales upheld the ruling of the Employment Tribunal in the case between Uber BV v Aslam. The Uber drivers had requested for minimum wage payment and paid leave. In arriving at its judgements, the court deliberated over a number of factors which included: (i) Uber owns a transportation business and the drivers provide skilled labour through which the organisation delivers its services and earns its profits; (ii) Uber requires drivers to accept trips and/or not to cancel trips, and enforces the requirement by logging off drivers who breach those requirements and that Uber fixes the fare and the driver cannot agree a higher sum with the passenger shows a high degree of control by Uber; (iii) Uber accepts the risk of loss which, if the drivers were genuinely in business on their own account, would fall upon them. Based on these and other considerations, the Court of Appeal upheld the ruling of the Tribunal that Uber employs its drivers, thus they are entitled to minimum wage and paid leave. t0OZFOLQB JT B 1BSUOFS $00 BU ,1.( BOE "EFCBZP JT B 4FOJPS "TTPDJBUF ,1.( NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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NCRIB Takes Insurance Awareness to Presidency Stories by Ebere Nwoji The Nigerian Council of Registered Insurance Brokers (NCRIB) said it will take insurance awareness to the office of President Muhammadu Buhari. The Executive Secretary of the Council, Mr. Fatai Adegbenro, made the disclosure while speaking to members of the National Association of Insurance and Pension Correspondents (NAIPCO) in Lagos recently. He said the presidential insurance awareness team would be led by the NCRIB President,

Dr. (Mrs) Bola Onigbogi. He said the proposed visit to President Buhari was part of the Councilâ&#x20AC;&#x2122;s sensitisation Programme to deepen insurance penetration in the country. It is aimed at sensitising the government on the need to engage the services of the registered insurance brokers, to protect the assets and liabilities of the government. According to Adegbenro, â&#x20AC;&#x153;We will continue to engage the government agencies from time to time. But for the COVID-19, our President would have

paid a visit to the Presidency with the view to sensitising the government on the need to engage the services of the registered insurance brokers, to protect the assets and liabilities of the government. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s not only the assets you protect, you protect liabilities as well because there are a lot of loans being taken to execute government projects. When these projects fail, whether you like it or not you must pay back the loan, so you have to protect all these things. â&#x20AC;&#x153;We are engaging the people

to embrace the benefits of insurance. Insurance is key. In other climes, nobody waits for the government. Itâ&#x20AC;&#x2122;s very easy because people rely on ignorance to say government has not done this or that. Government cannot do everything even in the United States of America (USA). â&#x20AC;&#x153;If they suffer loss, they donâ&#x20AC;&#x2122;t go to government, the people call on their insurance companies for compensation. We are doing everything to ensure we minimise reliances on government here,â&#x20AC;? he said.

Speaking on technology, he said the Council was doing everything within its powers to ensure that members fully upgrade their operations to suit the global trends in business operations â&#x20AC;&#x153;On the area of technology, if you say some members are not technologically savvy, yes, but in the real sense of it, since the lockdown, we have been meeting with our members; some of you have had the opportunity to come here and meet us. â&#x20AC;&#x153;Our membership is spread

all over the country and we have been organising trainings for our members. Nobody can claim to know everything, even the public you are reaching out to, your client might not be IT savvy hence you see them going there. â&#x20AC;&#x153;When after sending mails to clients and there is no response you have to move out to reach out to them and our members have been dealing with them online.â&#x20AC;? He said going forward, all the renewals of NCRIB members would be done online.

AIICO Insurance Grows Premium by 26% AIICO Insurance Plc, said it grew its gross written premium for the second quarter of 2020 by 26 per cent, from N25.4 billion in the second quarter of 2019, to N31.9 billion as of the second quarter of 2020. AIICO Insurance Managing Director, Mr. Babatunde Fajemirokun, attributed the companyâ&#x20AC;&#x2122;s premium growth to sustained positive performance across the major lines of business of the AIICO Group. According to him, the groupâ&#x20AC;&#x2122;s shareholdersâ&#x20AC;&#x2122; funds increased by 9.39 per cent from N27.9 billion in 2019, to N30.5 billion. He said this was driven by the groupâ&#x20AC;&#x2122;s earnings for the period and its strong matching of long term asset and liabilities, despite volatile yields along the yield curve. He, however, said the groupâ&#x20AC;&#x2122;s profit before tax (PBT) declined by 28 per cent to N2.17 billion, compared to N3.01billion in the second quarter 2019, explaining that the reduction was as a result of changes in product mix in the retail Life business due to changes in clientsâ&#x20AC;&#x2122; preferences. These product preferences were however impacted by the lower interest yield environment â&#x20AC;&#x201C; leading to a 71 per cent increase in the proportion of premiums that

had to be transferred to life funds (shown as change in life fund). â&#x20AC;&#x153;Besides our operational resilience and strategic marketing within the period, our brand equity, advanced level of automation and business continuity plans enabled us to quickly adjust our business model to meet the emerging demands of the low touch economy, triggered by the global pandemic. â&#x20AC;&#x153;The strong committed relationship we have built with our customers continue to endear them to us for repeat business, new businesses and referrals. â&#x20AC;&#x153;As the local and global economies gradually recover from the impact of the pandemic, we will seize opportunities for continuous growth. â&#x20AC;&#x153;Our response strategy includes product innovation, technology-enabled operating and distribution models, and unparalleled customer experience. â&#x20AC;&#x153;We remain optimistic that the second half of 2020 will be better, Fajemirokun said. He said AIICOâ&#x20AC;&#x2122;s profitable outcomes amid general uncertainties, challenging macro-economic and highly competitive business environment is a clear indication that it remains an insurer of choice and is well positioned for longterm market leadership.

Life Lager Boosts Brand Profile Raheem Akingbolu Following the launch of a new bottle and the â&#x20AC;&#x2DC;Ndukaâ&#x20AC;&#x2122; campaign, Life Lager Beer has continued to spread its strong message of hope and resilience to consumers, this time with decorative lighting on the popular Niger Bridge. The lighting project which was unveiled recently was a new initiative from Life Lager Beer as a climax to the brandâ&#x20AC;&#x2122;s relaunch activities. As the coronavirus spread across Nigeria, Life Lager Beer launched the â&#x20AC;&#x2DC;Ndukaâ&#x20AC;&#x2122; campaign as a means of encouraging its consumers to keep hope alive even as they stay safe at home. The campaign theme which translates to â&#x20AC;&#x153;Life is Greaterâ&#x20AC;? saw Life Lager engage in a number of communication activities to pass its message of choosing life in these uncertain times creatively. With its new lighting initiative, Life Lager is now spreading the importance of resilience, and selfpreservation as the words â&#x20AC;&#x153;Enjoy Life Responsiblyâ&#x20AC;? appear boldly

on its new lighting construction along with other brand signages. The unveiling of the lights display which was done at an evening event, had in attendance the Governor of Anambra State, Willie Obiano, who referred to the initiative as a progressive one and used the opportunity to encourage everyone to keep following the right precautions to stay safe. Sales Director, Nigerian Breweries Plc., Uche Unigwe, also expressed delight at the launch of the new project stating that it was a significant work. He added that; â&#x20AC;&#x153;this project couldnâ&#x20AC;&#x2122;t have come at a better time and hopefully the message resonates with the brandâ&#x20AC;&#x2122;s consumers and inspires them to keep living right.â&#x20AC;? The choice of the Niger Bridge for this project was once again a testament to the brandâ&#x20AC;&#x2122;s attachment to its southeastern roots, as it remains unapologetic about demonstrating its belief in the industrious nature of the people and their steady drive for progress.

Mutual Benefit Assurance Grows Profit by 172% Mutual Benefits Assurance Plc said it grew its profit before tax by 172 percent for the period ended 31, December2019. According to the company, during the period under review, its profit before tax rose from N1.4 billion in 2018, to N3.8 billion in 2019, while profit after tax increased by an even higher percentage of 214 per cent, from N1.1 billion in 2018, to N3.6 billion in 2019. The companyâ&#x20AC;&#x2122;s group chairman Dr. Akin Ogunbiyi disclosed this during its 24th virtual AGM recently held in Lagos. He said that the companyâ&#x20AC;&#x2122;s Gross Written Premium recorded a growth of 18 per cent, from N15.8 billion in 2018, to N18.7 billion in 2019. This performance, according

to Ogunbiyi, was driven by a significant 41 per cent growth in its life business, from N6.1 billion in 2018 to N8.5 billion in 2019. He added that total assets grew by 14 per cent, from N59.4 billion in 2018 to N67.8 billion in 2019. Total Equity increased by a higher percentage of 60 per cent from N9.1 billion in 2018 to N14.5 billion in 2019. Mutual Benefit Assurance, however, said the companyâ&#x20AC;&#x2122;s non-life business experienced a modest growth of four per cent from N9.8 billion in 2018, to N10.2 billion in 2019. Gross Premium income increased by 16 per cent to N18.1 billion from N15.6 billion in 2018. â&#x20AC;&#x153;Conversely, a more robust underwriting process resulted

in a 13 percent decline in net claims expense, from N7.0 billion in 2018 to N5.9 billion in 2019. â&#x20AC;&#x153;The decline in net claims benefits resulted in an increase in underwriting profits by 77 per cent from N3.1 billion in 2018 to N5.4 billion in 2019. â&#x20AC;&#x153;A growth in top line performance coupled with disciplined cost culture as well as highly rewarding investment activities ensured we improved our profitability in 2019,â&#x20AC;? he said. On the companyâ&#x20AC;&#x2122;s recapitalisation, effort, he said, â&#x20AC;&#x153;after the successful recapitalisation of its life subsidiary, we are taking active steps to complete the recapitalisation of the parent company before the stipulated deadline. â&#x20AC;&#x153;We want to assure our

shareholders that this is at the forefront of our plans and we are working towards achieving it before the end of the year.â&#x20AC;? Speaking on its 5-years strategic plan, he said: â&#x20AC;&#x153;We are in Year 4 of our 5-Year Strategic Plan. We continue to consolidate on the achievements of prior years.â&#x20AC;? Speaking further on covid-19, he said: â&#x20AC;&#x153;the spread of the coronavirus has led to the rapid adoption of technologically enabled solutions for business operators and our company is not left out. â&#x20AC;&#x153;Continued effective budgetary controls, improved ICT driven service delivery as well as increased market penetration via digital channels are expected to be critical to the full actualisation of the 5-year plan.â&#x20AC;?

Anchor Insurance Donates Medical Equipment to Akwa Ibom Anchor Insurance Company Limited has donated 150 cartons of facemask, 30 cartons of hand gloves and 45 cartons of hand sanitisers to the Akwa Ibom state government, in support of the fight against COVID-19 pandemic in the state. The Chairman, Board of the company, Dr. Elijah Akpan, who led the companyâ&#x20AC;&#x2122;s delegation presented the items to the state government at government house, Uyo, Akwa Ibom State.

Akpan, lauded Governor Udom Emmanuel for the investment in the health sector and praised the efforts of COVID-19 Management Committee headed by the Secretary to the state government, Dr. Emmanuel Ekuwem, in curtailing the spread of the deadly virus in Akwa Ibom. Akpan, who is also the Chairman of Akwa Ibom Investment Corporation (AKICORP), said the donation was one of the companyâ&#x20AC;&#x2122;s ways

of reciprocating the benevolence of the state government to the company. According to him, â&#x20AC;&#x153;Anchor Insurance Company, is 60 per cent owned by the Akwa Ibom State Government with over 70 per cent of its workforce being indigenes of the state.â&#x20AC;? Receiving the items on behalf of the state government, Ekuwem, described Akwa Ibom State government as one of the primary promoters of Anchor Insurance, and thanked the

company for the kind gesture. He noted that, the donation was a demonstration of the respect and values the company attached to human lives. Ekuwem, who is also Chairman of the COVID-19 Management Committee of the state, assured the company that the donation would go a long way in complementing governmentâ&#x20AC;&#x2122;s efforts in containing the spread of the dreaded virus in Akwa Ibom State.

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢ T H I S D AY

T H I S D AY Ëž Íł, 2020

EDUCATION â&#x20AC;&#x2DC;Technology Boosts Skills Acquisition in Technical Institutesâ&#x20AC;&#x2122; Equipping youths with the requisite skills in the face of the COVID-19 pandemic has been a step in the right direction for management of technical institutes, as they explained to Funmi Ogundare the efforts they have taken to ensure that their trainees are able to secure jobs and are self-reliant

â&#x20AC;&#x153;T

echnology is king in delivering content and in testing or ascertaining competence. Our curriculum has had its percentage of delivery upped online and drastically reduced in conventional classroom settings.â&#x20AC;? The declaration by Gbola Oba, a Director of Automedics Limited, sums up the pivot to technology-based education by technical institutes across the country. As if newly roused, the technical trainers are deploying technology intensely, introducing better hygiene enforcement features to the curriculum, and reskilling teachers of technical colleges to develop training content for online teaching. Other efforts are the acquisition of technical/ vocational skills for economic empowerment and ensuring that trainees are self-reliant. The automedics director noted that the use of instructional videos to guide some practicals has allowed trainees to study independently and increased comprehension. The feedback from students has been positive. The Dean, Universal Learn Direct Academia (ULDA), Mr. Babatunde Falaye said ULDA has put technology to better use. â&#x20AC;&#x153;Before the recent pandemic, we used the online chat platform â&#x20AC;&#x2DC;WhatsApp and the conventional electronic mail systemsâ&#x20AC;&#x2122; to deliver 20 per cent of our training (by giving notes, tasks, videos and other lecture training related materials to our trainees). However, another 30 per cent of the training is delivered through simulation activities at the workshops and the remainder 50 per cent is delivered in form of apprenticeship where trainees understudy a professional trades person to achieve competence.â&#x20AC;? The COVID-19 pandemic has made the organisation to explore more into other online lecture delivery methods. Faleye said ULDA now uses interactive video conferencing apps like Zoom and Google Classroom for training activities. They then post online videos to better explain the topic and request that trainees summarise the videos with hopes of giving better understanding to the practices thereof. â&#x20AC;&#x153;We have had to employ an IT software company which have helped to develop our very own unique e-learning resource system. It can be used on mobile applications (Android and IOS) with functions including User Registration Management (candidates can now pre-register for courses online), User Attendance Management (attendance monitoring and flagging when in default), notes, presentations, workbooks, task videos and recorded session.â&#x20AC;? Other functions to which it could be deployed include exams and records (access to financial, assessment and result records), Computer Based Testing (CBT) including fill in the gaps, multiple choice and interactive quizzes), assignment and task submission (uploading of audio-visual tasks and assignments), video streaming (live and pre-recorded), real time interactive video conferencing (like Zoom) and chat system (like WhatsApp). The dean said though instructors had faced challenges in creating lots of training task video materials to explain practices for the understanding of trainees, they can still study and be active using as little as an Android-enabled phone and very little data during study as it is only required when logging onto the site and submitting pre-recorded tasks or assignments. â&#x20AC;&#x153;Trainees would access notes, presentations, workbooks, task videos and past recorded sessions that would not require data at all. Trainees would simply switch off data after logging in and study and are practice focused; as physical interaction is now limited,â&#x20AC;? Faleye stressed. The major challenge, he noted, has been delivering practical training, but the organisation has ensured that a lot of videos are used in training, and trainees are able to interpret and summarise learnings from the practical videos. Trainees now have to undertake practical classes

Empowering Youths with Technology will enhance their skills in batches of six per period in adherence to social distancing rules and to ensure that they put studies to practice before the apprenticeship session begins. â&#x20AC;&#x153;Our training is now in the ratio of 35 per cent: 15 per cent: 50 per cent- online: in-faculty: on project site, as against 20 per cent: 30 per cent: 50 per cent that was previously used.â&#x20AC;? The schools have also added better hygiene enforcement features to their curriculum, as well as induction routine and practice. As the dean states, â&#x20AC;&#x153;In conjunction with our partner company, Garutech, we have fabricated a disinfecting chamber that would be placed at the entrance of the facility. Masks and lother PPE are always to be judiciously used and lectures in classes and at workshops are to observe strict social distancing rules.â&#x20AC;? Ms. Ronke Azeez is the Executive Secretary of the Lagos State Technical and Vocational Education Board (LASTVEB). She said the board recently organised a webinar with the theme â&#x20AC;&#x2DC;The New Normal: Implications of COVID-19 on Jobs and Future Skills Developmentâ&#x20AC;&#x2122;. Those who attended included Governor Babajide Sanwo-Olu and representatives of TVET GIZ, Eko Electricity Distribution Company, among others. She said the conversation examined the problem

encountered in sustaining technical and vocational training amidst the pandemic, examined the negative perception of technical and vocational training, the dearth of data for education and the reskilling of teachers in technical colleges. â&#x20AC;&#x153;The webinar highlighted the emerging skillsets needed for the new decade and also reconsidered the quality and relevance of education and the acquisition of technical/vocational skills in our thrift-world economy,â&#x20AC;? she said. Azeez said the board had to train teachers to develop training content for online teaching of students of technical colleges during the lockdown; develop television programme for studentsâ&#x20AC;&#x2122; learning; engaged students on various social media platforms, as well as did general online courses for teachers to upskill them in STEM subjects. To ensure that its trainees are globally competitive, the board has been developing their skills through different practical aspects of field work. According to the executive secretary, those skills can meet Nigeriaâ&#x20AC;&#x2122;s needs and the trainees themselves can secure jobs anywhere in the world. â&#x20AC;&#x153;What post-COVID has done for us is that it has pushed the agenda of technology and digitization in technical and vocational training forward. Before now, we were thinking of getting

there in the next five years. The implication is that many investments also must go in there and change the ways we must train our teachers. They have to understand how to teach in the digital age to support the students.â&#x20AC;? A Catering and Hotel Management Instructor at Government Technical College, Ikorodu, Mrs. Folake Iyiade said the school inculcated self-reliance in trainees and they can establish businesses. She cited an instance of one trainee who she visited recently, saying that she started the business of frying doughnut and other pastries for sale even with as little as N5,000. She expressed delight that one of her trainees had taken such a step. â&#x20AC;&#x153;For them to be self-reliant, they need to find the time to do something reasonable,â&#x20AC;? she remarked, adding that the hospitality industry has also been coming to the college to seek for trainees that they could employ. â&#x20AC;&#x153;We have some hotels which we have been working with in the last 10 years. They have been asking that once they are through with their academics, they can come and take up job opportunities at their organisations.â&#x20AC;? This period, she said her department created a WhatsApp group for online training for students so as to keep them busy and also ensure that they are able to start businesses of their own in the comfort of their homes. This reporter met with former ULDA trainees who have been able to secure jobs in construction firms, after their training. They told THISDAY how they have been able to apply some of the things they learnt on the field. Mr. Victor Dickson trained as a Site Supervisor and now works at Lafarge Cement. He expressed delight about the skills he learnt within his six-month training at ULDA, saying, â&#x20AC;&#x153;my experience was good because I was able to learn core skills in calculations and Bill of Quantities (BoQ) within my six months stay, an experience which I did not get during my five years sojourn at the university. I have been able to apply some of the things I learnt in site supervision where I now work.â&#x20AC;? NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Court Orders MOUAU to Restore Lecturerâ&#x20AC;&#x2122;s Professorial Rank Ernest Chinwo in Port Harcourt The National Industrial Court of Nigeria (NICN) sitting in Owerri, has ordered the Michael Okpara University of Agriculture, Umudike (MOUAU), Abia State, to restore the professorial rank of one of its lecturers, Professor Vincent Ele Asor. Asor had dragged the university to the NICN in Suit No: NICN/OW/29/2019 challenging his demotion from the rank of Professor of Mathematics to a senior lecturer by the governing council of the university in a letter dated May 20, 2019. He also stated that he was not given fair hearing to defend himself if he had committed any offense before the university decided to humiliate him by such decision. The university however stated that Asor had ample opportunity to present to it his letter of transfer of service from previous institutions where he had served, arguing that since he failed to produce such, it was deemed that he had no defence. Delivering the judgement, the Presiding Judge, Justice Ibrahim Suleiman Galadima, granted six of the seven reliefs sought by Asor, and ordered the

defendants to continue to pay the claimantâ&#x20AC;&#x2122;s salaries, emoluments and allowances as a professor of the university. The reliefs sought by Asor include â&#x20AC;&#x153;a declaration that the defendantâ&#x20AC;&#x2122;s letter of 20/5/2019 titled â&#x20AC;&#x2DC;Council Decision on Staff Audit/Proper Placementâ&#x20AC;&#x2122; purporting to revert the claimantâ&#x20AC;&#x2122;s appointment from the rank of a professor of Mathematics to senior lecturer in the employ of the third defendants (sic) is ultra vires, null and void and of no effect. â&#x20AC;&#x153;A declaration that his appointment in the service of the third defendant (sic) as a professor is subsisting and valid, a declaration that the reversion of his appointment from the rank of Professor of Mathematics to senior lecturer in the employ of the third defendant (sic) is not in line with the 2017 Conditions of Service for Senior Staff of the Michael Okpara University of Agriculture, Umudike. â&#x20AC;&#x153;A declaration that the failure, refusal, or neglect of the defendant to afford the claimant an opportunity to be heard before the purported reversal of his appointment from the rank of a professor to senior lecturer is a breach of the claimantâ&#x20AC;&#x2122;s right

to fair hearing and is therefore unconstitutional, null, void and of no effect whatsoever; an order compelling the defendant to reinstate and or restore the claimant to his post as Professor of Mathematics in MOUAU with all his rights, entitlements and emoluments of office as a professor. â&#x20AC;&#x153;An order compelling the defendants to continue to pay the claimantâ&#x20AC;&#x2122;s salaries, emoluments and allowances as a professor of MOUAU, and an order setting aside the defendantâ&#x20AC;&#x2122;s letter dated 20/5/2019 titled â&#x20AC;&#x2DC;Council Decision on Staff Audit/Proper Placement being that same was null and void.â&#x20AC;? Galadima declared that the demotion of the professor was punitive, and said it was ultra vires, null and void and of no effect, saying that the demotion was not in line with the 2017 conditions of service for senior staff of the university. The court therefore set aside the letter of the governing council of the university, dated 20/5/2019 titled â&#x20AC;&#x2DC;Council Decision on Staff Audit/Proper Placementâ&#x20AC;&#x2122;, declaring it null and void. The judge declared: â&#x20AC;&#x153;It is therefore my honest belief, that his appointment cannot

be subjected to the quirks and vagaries of the defendant in the manner that it was done simply because some of his colleagues in the university community are dissatisfied with his appointment, and I so hold. â&#x20AC;&#x153;The only way the defendant can succeed in downgrading him is if he accepts a fresh appointment on a downgraded rank or if his current appointment were terminated by the defendant in accordance with the statute and terms and conditions of his appointment. â&#x20AC;&#x153;On the whole, and for all the reasons above adduced, the invalidation and withdrawal of the professorial appointment of the claimant by the defendant vide Exhibit C3 dated 20/5/2019 is not only wrong but most oppressive. â&#x20AC;&#x153;The arguments of the claimant as to unfair hearing do not even arise as the very action of the defendant in downgrading, invalidating and withdrawing his professorship is indeed wrong and unjust ab initio. â&#x20AC;&#x153;Thus held, the claimantâ&#x20AC;&#x2122;s case is meritorious and his reliefs (1), (2), (3), (5), (6) and (7) are hereby granted in the terms indicated above. Judgment is entered accordingly.â&#x20AC;?

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢ T H I S D AY

T H I S D AY Ëž ÍłË&#x153; 2020

BUSINESS/MONEYGUIDE

FCMB Group Records N11bn Half-year Profit The FCMB Group Plc has released its half year results for the six months ended June 30, 2020. The results showed that the bankâ&#x20AC;&#x2122;s profit before tax (PBT) rose by 26 per cent to N11.1 billion compared to N8.8 billion in the corresponding period in 2019. Also, its profit after tax increased by 29 per cent yearon-year to N9.7 billion in the period under review. This, the bank explained in a statement, translated to a return on average equity (RoAE) of 9.4 per cent and earnings per share of 49 kobo, a year-on-year improvement of 16 per cent and 29 per cent respectively. FCMB Group is a holding company divided along three business groups: Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Corporate & Investment Banking (the Corporate BankingDivision of the Bank,

FCMB Capital Markets Limited and CSL Stockbrokers Limited) as well as Asset & Wealth Management (FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited). The half year results also showed that the Group recorded an increase in gross revenue by nine per cent, to N98.2 billion as against N89.8 billion for the same period last year. Net interest income equally rose by 17 per cent for the first half of 2020 to N45.4 billion from N38.7 billion posted in the first half of 2019, while non-interest income stood at N17.5 billion, an increase of 14 per cent, compared to N15.3 billion within the six months period last year. The results showed that the bankâ&#x20AC;&#x2122;s loans and advances grew by 29 per cent yearon-year and four per cent quarter-on-quarter to N794.6 billion.

Similarly, customer deposits went up by 28 per cent year-on-year and 11 per cent quarter-on-quarter to N1.1 trillion in June 2020, implying a significant increase in confidence in the institution. According to the results, FCMB Groupâ&#x20AC;&#x2122;s total assets surged upward by 31 per cent year-on-year and four per cent quarter-on-quarter to N1.97 trillion as at June 2020. The Groupâ&#x20AC;&#x2122;s capital adequacy ratio stood at 17.3 per cent, above the minimum requirement set by the Central Bank of Nigeria, while its aliquidity ratio was 32.2 per cent. FCMB Groupâ&#x20AC;&#x2122;s subsidiaries also performed satisfactorily within the six months period. For instance, the Commercial and Retail Banking arm (comprising First City Monument Bank Limited, FCMB UK, Credit Direct Limitedand FCMB Microfinance Bank) reported a 42.9 per cent year-on-year increase in profit before tax.

Trading ďŹ&#x201A;oor

MARKET INDICATORS MONEY AND CREDIT STATISTICS

Sterling Bank Posts N5.4bn Profit in Six Months Nume Ekeghe Sterling Bank Plc has released its results for the half-year ended June 30, 2020, which showed that it realised profit after tax (PAT) of N5.4 billion, compared with the N5.7 billion during the comparable period in 2019. The bankâ&#x20AC;&#x2122;s gross earnings also stood at N70.2 billion in the period under review, as against the N72.3 billion it made during the corresponding period of 2019. The bank also reported a net interest income of N33.5 billion during the half-year ended June 30, 2020, as against N30.4 billion during the corresponding period of 2019, which represented a growth of 10.1 percent. The bankâ&#x20AC;&#x2122;s total assets also rose by 9.4 percent to N1.294 trillion

during the review period from N1.183 trillion in 2019, while customer deposits inched up by 2.5 percent to N915.2 billion in 2020 from N892.7 billion in 2019. The lender closed the half-year with a trading income of N3.9 billion as against N1.2 billion for the corresponding period of 2019, representing a remarkable increase of 242.8 percent. Commenting on the financial performance, the Chief Executive Officer (CEO) of Sterling Bank Plc, Mr. Abubakar Suleiman, in a statement explained: â&#x20AC;&#x153;Our impressive half-year performance in the face of the COVID-19 pandemic and the ensuing economic disruption belies the rough seas ahead. In the second quarter of the reporting period, we focused on empowering our

stakeholders to respond to the unprecedented disruption occasioned by prolonged restriction to movement while supporting them to adapt to new ways of banking. â&#x20AC;&#x153;Our commitment to digitisation was validated as we continued to serve existing and new customers through our mobile and digital platforms. We also responded to the uncertainty by doubling down on cost optimisation while leveraging our existing remote work policy to keep our workforce productive without risking COVID-19 infection. â&#x20AC;&#x153;Notwithstanding rising inflation, we were able to moderate operating expenses during H1 2020 to deliver a net profit comparable to the first half of 2019.â&#x20AC;?

Osibanjo,OthersforLCCIâ&#x20AC;&#x2122;sPresidentialPolicyDialogue Dike Onwuamaeze Vice President of Nigeria, Professor Yemi Osinbajo is expected to be the keynote speaker at the Lagos Chamber of Commerce and Industry (LCCI), virtual edition of the Presidential Policy Dialogue that will take place this Friday. The â&#x20AC;&#x153;Presidential Policy Dialogueâ&#x20AC;? is to create a platform for the Organised Private Sector (OPS) and the federal government to deliberate on the state of the economy, public policy initiatives, regulatory issues and their effects

on the business environment. The dialogue would be hosted virtually on the Zoom platform. The 2020 edition of the event is expected to bring together key government officials and major players in the organised private sector to explore collaboration possibilities and synergy between the public and private sectors and deliberate on issues bothering on the economy, as they relate to the mandate of the present administration to take it to the next level.

The Director General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, said: â&#x20AC;&#x153;The chamber believes that through engagements such as this, the government and the organised private sector can identify and address issues affecting the growth of our economy with a view to proffering long-lasting solutions to them.â&#x20AC;? Yusuf also hinted that the Deputy Secretary General of the United Nations, Dr. Amina Mohammed, would make remarks at the session

e-Learning Platform Launched Oluchi Chibuzor A digital e-learning platform named Digital CEO Tribe has been launched for students, entrepreneurs and professionals in various sectors. The launch was in line with federal governmentâ&#x20AC;&#x2122;s drive to attain a digital economy. The founder, Samson Olatunde, while unveiling the initiative in Lagos recently, said the fallout of COVID-19 on businesses clearly showed the need to become inclined technologically. He said the country must leverage emerging digital to produce employers of labour

for the 21st century. Olatunde, stressed the need to make at least 90 per cent of Nigerians literate towards achieving 2020-2025 broadband plan of the federal government through the ministry of communication. According to him, â&#x20AC;&#x153;it is no longer news that an increasing number of people are seeking remote training possibilities now. Digital CEO Tribe discerned the need to broaden its content to support various sharing capacities. â&#x20AC;&#x153;Thus, they developed and released three new features: Digital CEO Africa Summit, The Digital Conversation, and

The Digital Profit Master class. â&#x20AC;&#x153;Digital learning in recent times is becoming the most suitable way of learning as professionals from different industries across the world can have access to learning materials inform of Videos, web-links, audiotapes, course information, are available for access.â&#x20AC;? He added: â&#x20AC;&#x153;The information on the platform shows our commitment towards providing digital learning in line with the digital policy of the federal government. The team is doing everything to meet the needs of viewers and subscribers in the face of the new normal.

(MILLION NAIRA)

SEPTEMBER 2019 Money Supply (M3)

35,029,779.72

-- CBN Bills Held by Money Holding Sectors

7,374,356.91

Money Supply (M2)

27,655,422.82

-- Quasi Money

116,533,891.21

-- Narrow Money (M1)

11,121,531.60

---- Currency Outside Banks

1,625,047.69

---- Demand Deposits

9,496,483.91

Net Foreign Assets (NFA)

13,911,335.83

Net Domestic Assets(NDA)

21,118,443.89

-- Net Domestic Credit (NDC)

35,918,179.45

---- Credit to Government (Net)

10,452,199.38

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

11,007,422.79

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

25,465,980.07

---- Credit to Private Sector (CPS)

-14,799,735.56

--Other Assets Net

7,000,253.07

Reserve Money (Base Money

2,005,600.83

--Currency in Circulation

4,677,530.81

--Banks Reserves

317,121.43

Ëž Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ÍŻÍąĎą

OPEC DAILY BASKET PRICE Ë&#x153; ÍąÍŻ Í°ÍŽÍ°ÍŽ

The price of OPEC basket of thirteen crudes stood at $43.02 a barrel on Friday, compared with $42.99 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), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) SOURCE: OPEC headquarters, Vienna

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

Fidson Healthcare Explains Profit Growth, Pays 15 kobo Dividend Goddy Egene The Chairman of Fidson Healthcare Plc, Mr. Segun Adebanji, has said that several cost optimisation initiatives adopted by the company led to the N407 million profit recorded for the year ended December 31, 2019. Fidson grew its profit for the year by 518 per cent from a loss of N97.45 million in 2018 to N407.19 million in 2019, despite a decrease from N16.23 billion in

2018 to N14.06 billion in 2019. Speaking at the annual general meeting (AGM) of the company in Lagos, Adebanji said the company adopted cost optimisation strategies that led the improved performance in 2019. According to him, gross margin improved from 39 per cent in 2018 to 42 per cent in 2019, administrative and sales expenses reduced by 13 per cent while finance cost dropped by over 10 per cent.

P R I C E S MAIN BOARD

F O R DEALS

Adebanji noted that proceeds from the companyâ&#x20AC;&#x2122;s right issue in July 2019 were used to repay expensive loans, finance capital expenditure and working capital needs. Based on the profit recorded in 2019, the board proposed a dividend of 15 kobo per share, which was approved by the shareholders at the AGM. The shareholders commended the company for ensuring that investors continue to get good

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value on their investments. The chairman said the Fidson continued to leverage its World Health Organisation (WHO)compliant factory, introducing 10 new products in 2019, and went into an agreement with GlaxoSmithKline Plc to contract manufacture for them from 2021 onwards. This will ultimately drive an increase in output and efficiency, and bring variable costs of production down.

T R A D E D MAIN BOARD

A S

Looking into the future, Adebanji said the board is committed to implementing strategic initiatives like international collaboration and research & development to drive sustainable growth as well as cement its leadership position in the industry. â&#x20AC;&#x153;The Covid-19 pandemic has provided opportunities to explore the development of new products and with the increasing support of the

O F

government for the healthcare sector, the company anticipates that it would successfully mitigate some of the shocks caused by the pandemic and emerge successful in the months ahead,â&#x20AC;? he said. Meanwhile, the stock market closed on a positive note yesterday as the Nigerian Stock Exchange (NSE) All-Share Index rose by 0.31 per cent to be at 24,841.94, while mqrket capitalisation added N39.6 billion to be at N13 trillion.

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WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢T H I S D AY

WEDNESDAY, AUGUST 5, 2020 ˾ T H I S D AY

MARKET NEWS

Nigerian Breweries Posts N151bn Revenue, N5.7bn Profit after Tax Goddy Egene Nigerian Breweries Plc has recorded a

revenue of N152 billion, down from N170.2 billion in the corresponding period of 2019. Profit before tax fell 57 per cent

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

from N19.4 billion to N8.3 billion, while profit after tax (PAT) declined from N13.3 billion to N5.6 billion in 2020.

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 03Aug-2020, unless otherwise stated.

According to the company, the half-year results for the 2020 financial year show a strong balance sheet despite several factors

that negatively impacted on its operations. The factors include: an increase in Excise Duty, a rise in inflation, an increase in VAT

from 5.0 per cent to 7.5 per cent and the impact of the coronavirus (Covid-19) pandemic on businesses worldwide.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.92 0.93 1.78% ACAP Income Funds 0.78 0.78 9.92% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 6.21% AIICO Balanced Fund 2.99 3.06 21.65% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 6.16% Anchoria Equity Fund 90.00 90.33 -13.25% Anchoria Fixed Income Fund 1.29 1.29 11.63% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 14.05 14.47 -8.29% ARM Discovery Fund 334.44 344.53 -3.18% ARM Ethical Fund 30.30 31.21 4.18% ARM Eurobond Fund ($) 1.13 1.14 13.41% ARM Fixed Income Fund 1.07 1.08 7.56% ARM Money Market Fund 1.00 1.00 4.51% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 93.34 94.00 -2.85% AXA Mansard Money Market Fund 1.00 1.00 4.93% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.18 2.18 21.93% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 1.84 1.87 4.20% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 0.06 0.04 5.71% Paramount Equity Fund 10.98 11.18 -12.27% Women's Investment Fund 109.03 109.97 -1.26% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 4.79% Cordros Milestone Fund 2023 98.23 98.47 Cordros Milestone Fund 2028 100.10 100.34 Cordros Dollar Fund ($) 101.44 101.44 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund 107.93 107.95 7.93% FBN Money Market Fund 100.00 100.00 4.39% FBN Nigeria Eurobond (USD) Fund - Institutional 117.94 118.41 2.11% FBN Nigeria Eurobond (USD) Fund - Retail 118.47 118.94 2.05% FBN Nigeria Smart Beta Equity Fund 111.29 113.03 -14.48% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,102.83 3,136.42 2.03% Coral Income Fund 3,206.79 3,206.79 4.26% FSDH Treasury Bills Fund 100.00 100.00 4.43% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 4.07% Vantage Balanced Fund 2.31 2.35 5.46% Vantage Guaranteed Income Fund 1.00 1.00 7.99% Kedari Investment Fund (KIF) 149.02 149.64 3.93% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.36 1.38 11.56% PACAM Fixed Income Fund 11.87 11.93 5.39% PACAM Money Market Fund 10.00 10.00 4.38% PACAM Equity Fund 1.03 1.04 PACAM EuroBond Fund 106.42 108.85 SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 114.43 116.55 -6.29% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 5.73% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.12 1.14 -5.83% United Capital Bond Fund 1.83 1.83 6.04% United Capital Equity Fund 0.63 0.65 -10.23% United Capital Money Market Fund 1.00 1.00 5.23% United Capital Eurobond Fund 113.57 113.57 3.96% United Capital Wealth for Women Fund 1.02 1.02 -2.87% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.20 10.30 -0.85% Zenith Ethical Fund 11.62 11.68 -0.24% Zenith Income Fund 24.47 24.47 9.90% Zenith Money Market Fund 1.00 1.00 4.82%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

116.57

4.01%

53.25

2.31%

Bid Price

Offer Price

Yield / T-Rtn

9.14 84.19 67.12

9.24 82.44 65.94

4.94% -3.00% -0.11%

Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

N/A N/A N/A N/A N/A N/A

NAV Per Share

Yield / T-Rtn

108.03

15.02%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢T H I S D AY

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢ T H I S D AY

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢T H I S D AY

WEDNESDAY, ͽ˜ ͺ͸ͺ͸ ˾ T H I S D AY

NEWS

PDP’s Focus is Winning in 2023, Not Zoning, Says Wike Accuses APC of plotting violence in Edo governorship election Chuks Okocha in Abuja The Chairman of the Peoples Democratic Party (PDP) National Campaign Council for Edo State governorship election and Rivers State Governor, Mr. Nyesom Wike, yesterday said the focus of the party in 2023 presidential election would be winning and not zoning. He also accused the All Progressives Congress (APC) of inciting violence in the upcoming September 19 election in Edo State. Speaking yesterday on Sunrise Daily, a programme

on Channels Television monitored in Abuja, the governor said the PDP would not bother itself for now about zoning, but about how to win 2023 presidential election. Responding to the issue of zoning, Wike said: “When I came on board, people were saying no, because of my ethnic group but there was an argument that we are an opposition party. What we want to do is to win elections. “As an opposition party, we look at all variables. What will make us win the

election should come first. That is what is important to us. The ruling party can say that (zoning) but for the opposition party, there are variables.” When asked to state his position on the raging zoning debate, the governor responded, “It depends. As an opposition party, we look at all variables. Forget about other parties. We look at all variables and our own concern is how do we win? How do we get back power? “So, it is not one factor that will influence us. So, many variables will

come into play. So, it will be wrong for me as an opposition person to say this must be done now. No, I will not do that.” While responding to a statement credited to the Edo State Governor, Mr. Godwin Obaseki, that violence would be met with violence in reaction to alleged threats of violence by the APC, Wike said it was the candidate of the APC, Mr. Osagie Ize-Iyamu, that was seen in a video clip inciting his supporters to cause mayhem during the election.

Wike said: "Who is inciting violence? The APC governorship candidate was seen with his thugs and cultists threatening violence- telling them to move from polling stations to polling stations and cause crisis. “We know that there would be no movement during elections and yet in the video, Pastor Ize-Iyamu was heard asking them to go there and capture votes." Wike explained that the Edo State gubernatorial election would be easily won as it would be based

on performance, adding that "the APC has nothing for performance." He said the election would help bring to an end the era of godfathers in politics. He wondered who was campaigning for an elective office between Ize-Iyamu and the former National Chairman of the APC, Mr. Adams Oshiomhole. "Oshiomhole is always in the front, overshadowing the main candidate who is always in the background. This election will bring to an end to godfatherism in Nigeria's politics," he said.

NDDC Invites Buhari to Inaugurate N24bn Bayelsa Project Upholds list of lawmakers awarded contracts submitted to N’Assembly Ernest Chinwo in Port Harcourt In a strategic move to divert attention from the negative publicity its probe by the National Assembly has generated in recent weeks, the Niger Delta Development Commission (NDDC) has invited President Muhammadu Buhari to inaugurate the 29-kilometre Ogbia-Nembe Road in Bayelsa State built in conjunction with the Shell Petroleum Development Company (SPDC) at the cost of N24 billion. The road creates a land link to the ancient city of Nembe for the first time. The commission has also promised to pay its scholars who are facing hardships abroad because of the nonremittance of their fees and stipends by the end of the

week, following the order of the president. Besides, NDDC upheld the list of contracts allegedly handled by members of the National Assembly, stressing that the list was not compiled by the Minister of the Niger Delta Affairs, Senator Godswill Akpabio, but was taken from files in the commission. The commission’s Director of Corporate Affairs, Mr. Charles Odili, in a statement in Port Harcourt yesterday said Akpabio had delivered the invitation to inaugurate the project to the president. He explained that the delay in the remittance of the fees was caused by the sudden death of Chief Ibanga Etang, the then acting Executive Director, Finance and Administration (EDFA) of the commission in May.

Odili stated: “Under the commission’s finance protocol, only the Executive Director (Finance) and the Executive Director (Projects) can sign for the release of funds from the commission’s domiciliary account with the Central Bank of Nigeria (CBN). “With the death of Chief Etang, the remittance has to await the appointment of a new EDFA. “Senator Akpabio said President Buhari, who has been briefed on the protest by students at the Nigerian High Commission in London, has ordered that all stops be pulled to pay the students by the end of this week. We expect a new EDFA to be appointed this week. As soon as that is done, they would all be paid.” On the road project,

Odili noted that the road, which cuts through swampy terrain, with spurs to 14 other communities, needed 10 bridges and 99 culverts. “To conquer the swampy terrain, the construction involved digging out four metres of clay soil and sand filling it to provide a base for the road. “The road has cut the journey time to Yenagoa, the Bayelsa State capital, from three hours to one and a half hours,” he said. Odili said the joy of the communities served by the road was unspeakable, noting: “This project is a not only flagship of intervention in the Niger Delta, but it is also a model of the development partnership between the commission and international oil companies in the region.” On the list of NDDC

contracts handled by members of the National Assembly, Odili said the one submitted by Akpabio was not compiled by the minister but came from the files in the commission. The NDDC spokesperson stated that the list was actually compiled by the management of the commission in 2018. He added that there was another set of lists for emergency project contracts awarded in 2017 and 2019 but these were not submitted to the National Assembly. Odili said: “The Interim Management Committee (IMC) of the commission stands by the list, which came from files already in the possession of the forensic auditors. It is not an Akpabio’s list but the NDDC’s list. The list is part of the volume of

8,000 documents already handed over to the forensic auditors.” The spokesperson said the intention of the list was to expose committee chairmen in the National Assembly who used fronts to collect contracts from the commission, some of which were never executed. Odili added that the list did not include the unique case of 250 contracts which were signed for and collected in one day by one person ostensibly for members of the National Assembly. On the forensic audit exercise, he said it was on course and the commission had positioned 185 media support specialists to identify the sites of every project captured in its books for verification by the forensic auditors.

Tinubu, Lawan, APC Govs to FG Rescues 30 Nigerians Storm Edo for Campaign Rally Trapped in Lebanon Buhari invites Ize-Iyamu for crucial meeting

Iyobosa Uwugiaren in Abuja The National Leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu; the President of the Senate President, Dr. Ahmad Lawan; members of the National Assembly; all governors elected on the platform of APC and other top leaders of the party are expected in Benin City, the Edo State capital this Saturday for the flag-off of the party’s governorship campaign. As part of the preparation for the rally, President Muhammadu Buhari has invited the party’s candidate, Pastor Osagie Ize-Iyamu for a crucial meeting at the Villa, Abuja. The party’s candidate, who is already in Abuja for the meeting with the president, was said to have met with

members of the National Campaign Council for the Edo State governorship election on Monday night. Those who attended the meeting including former Senate President, Dr. Ken Nnamani; Governor Babajide Sanwo-Olu of Lagos State; Governor Abdullahi Umar Ganduje of Kano State; Governor Hope Uzodimma of Imo State; and the Minister of Niger Delta Affairs, Senator Godswill Akpabio, among others. “As part of the preparation for the flag-off of our rally in Benin City this Saturday, members of the campaign council met with our candidate, Pastor Osagie Ize-Iyamu, on Monday night, to fine-tune the arrangement. “Interestingly, the president has directed all APC governors to attend the rally; and our Senate

President, Ahmad Lawan, will also lead members of the National Assembly to the event. In all the preparation, we are very mindful of the COVID-19 protocol,’’ a member of the campaign council told THISDAY. The source said that Buhari will not be at the rally because of COVID-19 protocol, but will be represented by a top government official. “President Muhammadu Buhari will not be at the rally. You know he has drastically reduced his public functions in the past few months because of the COVID-19 pandemic. But he will be represented by a senior government official. And the president has also invited Pastor Osagie Ize-Iyamu for a meeting ahead of the scheduled rally,’’ the source added.

150 others await evacuation Adedayo Akinwale in Abuja The federal government has rescued 30 stranded Nigerians, who in a video that went viral on social media, appealed for help to leave Lebanon. A statement yesterday by the Media, Public Relations and Protocol Unit of Nigerians in Diaspora Commission (NIDCOM), Mr. Gabriel Odu, said the 30 rescued ladies would be part of 150 others trafficked and stranded in Lebanon to be evacuated back to Nigeria. He quoted the Lebanese Ambassador to Nigeria, Mr. Houssam Diab, as unveiling the evacuation plans when the management of NIDCOM, led by the Secretary, Dr. Sule Bassi,

visited the embassy in Abuja. Odu quoted Diab as saying that the150 stranded Nigerians will be returned home in batches. Diab added that the first batch of 110 would leave Beirut, Lebanon to Lagos on August 12 while the second batch would be returned to Abuja on August 16. The ambassador commended the efforts of the Lebanese community and the Oyo State government for sponsoring the return of 55 of the stranded Nigerians. The statement said: "30 Nigerians in a video appealing for help have been rescued by the Nigerian Mission in Lebanon, and have been relocated to a more conducive apartment "They will be part of 150 others trafficked and

stranded in Lebanon to be evacuated back to Nigeria. "Suffice to say that 150 of these stranded victims are expected to be evacuated next week and handed over to NAPTIP, the agency responsible for trafficking." A breakdown shows Oyo State has four; Ogun, 21; Lagos, 12; Ondo, 18; Osun, 26; Delta and Imo states have three each; Kwara, nine’; Ekiti, six; Enugu, Kogi, Edo, Ebonyi, Benue, Abia, Akwa Ibom and Anambra have one each. Bassi, however, commended the dedication and commitment of the Nigerian Ambassador to Lebanon, Mr. Goni Bura, mission staff, the Ministry of Foreign Affairs, the Oyo and Ogun State Governments and other strategic partners in rescuing the people.

WEDNESDAY AUGUST 5, 2020 ˾ T H I S D AY

NEWSXTRA

NDDC Staff Accuses IMC of N6.2bn Fraud Petitions Lawan, Gbajabiamila

Deji Elumoye in Abuja The Chairman of the Palliative Distribution Committee of the Niger Delta Development Commission (NDDC), Chief Sobomabo Jackrich, has accused the Interim Management Committee (IMC) of misappropriating and diverting N6.2 billion meant for palliatives among the commission’s nine-member states. Jackrich in a 12 - paragraph petition dated August 3, 2020 sent to the President of the Senate, Dr. Ahmad Lawan and Speaker,

House of Representatives, Hon. Femi Gbajabiamila, stressed that the N6.2billion scam is different from N1.5 billion relief funds shared to over 4,000 workers of the commission and high command of the Nigeria Police Force by IMC in April this year. According to the petitioner, the N6.2billion was specifically approved by President Muhamnadu Buhari also in April for procurement and distribution of palliatives to residents of the nine states covered by the commission . “Today, all of that can be

regrettably described as a show of shame and a scam. The N6,250,000,000.00 that was magnanimously approved by Mr. President to help the poor and indigents of the Niger Delta during this difficult period of

the pandemic as palliatives has curiously been allegedly misappropriated and embezzled by the IMC of the NDDC and their co-conspirators. “As the Chairman of the Palliatives Distribution Committee,

my findings is not only that the money cannot be accounted for, but there is nothing on ground to show that that N6.2 billion of our hard-earned tax payers’ money was invested for its original purpose, which the President approved.

“The materials and supplies, according to the statement were to be done through emergency procurement method as provided in Sections 42(b) (c) and 43 of the Public Procurement Act, 2007,” he further said.

Bristow Helicopters Sacks over 100 Pilots, Engineers Chinedu Eze Bristow Helicopters has announced the sack of over 100 pilots and engineers in its employment, saying it has engaged with the National Association of Aircraft Pilots and Engineers (NAAPE) to negotiate a fair and equitable redundancy compensation for the affected people. Industry sources said this might be a reaction to the picketing and grounding of the company’s operations last Monday by the union over alleged discrimination against Nigerian pilots and engineers. Bristow, in a statement signed by its management, said it based its decision on the severe impact of the COVID-19, stating that its business has been affected adversely and would use the period to restructure all aspects of its business model. The statement said: “The emergence of the COVID-19 has severely impacted all sectors in the aviation industry, including our market, which primarily serves the Nigerian oil and gas

sector. In addition, the ongoing downturn in the global oil and gas market continues to influence and determine the demand for our services. “The combined effects of these developments have resulted in very significant reductions to our business, particularly a reduction in the number of contracted aircraft in Nigeria. As a result, the company must now restructure all aspects of its business model (both rotary and fixed wing), including an extensive review of its operations, and we will continue to drive efficiencies, but with zero compromise to safety and our core values. “One of these measures includes the right sizing of the business to ensure that the company has the optimal level of personnel to continue the safe delivery of its services to its clients, whilst allowing the appropriate capacity for future growth. Accordingly, and with much regret, the company has taken the very difficult decision to release over 100 pilots and engineers (both nationals and expatriates) over the next couple of weeks.”

Nigeria’s COVID-19 Cases Rise By 304 to 44,433 Martins Ifijeh

Nigeria has recorded 304 new cases of COVID-19, bringing to 44,433 the number of confirmed cases in the country. It has also recorded 14 COVID-19 related deaths in the last 24 hours, raising the tally from 896 to 910 in a single day. Announcing this yesterday, the Nigeria Centre for Disease Control

(NCDC) said the Federal Capital Territory(FCT)recorded90cases;Lagos, 59; Ondo, 39; Taraba, 18; Rivers, 17; Borno,15;Adamawa,12;Oyo,11;Delta, nine; Edo, six; Bauchi, Osun, Ogun and Kwara, four each; Bayelsa, Plateau and Niger, three each; Nasarawa, two; while Kano recorded one case. It said: “Nigeria has so far recorded 44,433 cases of COVID-19. 31,851 patients have been discharged, while 910 persons have died.”

WAEC Releases Timetable for 2020 WASSCE The West African Examinations Council (WAEC) has released the final international timetable for the conduct of the 2020 West African Senior School Certificate Examination (WASSCE). The council took to its Twitter page yesterday to break the news. The council, in a statement by Head of Public Affairs, WAEC Nigeria, Mr. Demainus Ojijeogu, also enjoined the general public to disregard “several versions of the examination timetable that have been in circulation”. According to the statement, the examination would begin effective from August 17, and through September 12, 2020. “The council hereby urges the candidates to abide by the rules

and regulations guiding the conduct of the examination by shunning all acts of malpractice and obeying all COVID-19 protocols that have been put in place at the examination centres,” it added. This year’s WASSCE, earlier scheduled for April, was postponed indefinitely because of the COVID-19 pandemic. But as the lockdown, which was imposed on countries, was eased gradually, the exam body fixed August 4, to September 5 for the examination. The federal government, however, stated that students of unity schools would not participate in the examination owing to COVID-19 concerns.

FAREWELL TO A PATRIOT…

Ekiti State Commissioner for Health Ekiti, Dr. Christiana Yaya; Osun State Commissioner for Information and Civic Orientation, Mrs. Funke Egbemode; and Special Adviser on Public Health to Osun State governor, Dr. Olamiju Olasiji, during the handover of the body of Senator Ayo Fasanmi to the Ekiti State government at Itawure…yesterday

Ondo Assembly Suspends another Lawmaker James Sowole in Akure The Ondo State House of Assembly yesterday suspended a member, Hon. Tomide Akinribido, for allegedly posting a message on his WhatsApp page on probity of the office of the Speaker and the Assembly. The suspension of Akinribido, who represents Ondo West I on the platform of the Zenith Labour Party (ZLP), brought to four the

number of lawmakers that had been suspended by the Assembly in the last four weeks. Though the Assembly hinged the suspension of the lawmakers on misbehaviour, some sources saw the act as a move to get the required number of signatories to effect the removal of the Deputy Governor, Mr. Agboola Ajayi. The Speaker of the Assembly, Hon Bamidele Oleyelogun, while ruling on the recommendation of

an ad hoc committee set up on July 18, 2020, said the observations of the committee clearly indicated that the suspended members deliberately decided to put into disrepute the House of the Assembly. Oleyelogun said Akinribido had therefore been suspended forthwith, asking him to hand over all properties of the Assembly in his possession to the Clerk of the Assembly, and that the suspended

lawmaker should not be seen at the premises of the Assembly. According to him, the lawmaker will not have the right to his entitlements. Earlier, the ad hoc committee, which recommended the lawmaker’s suspension, said it had carefully considered the view of Akinribido, saying the Assembly should decide on punishment to be met as sanction to serve as deterrent to others.

Alleged $3m Bribe: You Have a Case to Answer, Appeal Court Tells Lawan Alex Enumah in Abuja The Court of Appeal, Abuja Division, yesterday, dismissed the appeal filed by a former member of the House of Representatives from Kano State, Hon. Farouk Lawan, seeking to terminate the $3 million bribery charges brought against him by the federal government. The Independent Corrupt Practices and other related offences Commission (ICPC) had arraigned

Lawan on a three-count criminal charge bordering on alleged bribe to the tune of $3 million. He was accused to have demanded the sum of $3 million from Mr. Femi Otedola to remove his company’s name, Zenon Oil from the list of companies under investigation by the legislature on alleged subsidy fraud. He was said to have received the sum of $500, 000 from Otedola as part-payment of the alleged $3 million bribe, when

he was Chairman of the House Committee on Oil and Gas. He had approached the Court of Appeal to set aside the decision of Justice Angela Otaluka of a High Court of the Federal Capital Territory (FCT), which rejected his no-case submission in the bribery trial. However, the appellate court in a unanimous decision held that a prima facie case was well established against him that would warrant him

t o enter his defence in the matter. In the judgment delivered by Justice Olabisi Ige, the Court of Appeal held that the decision of the lower court was well founded. According to Ige, contrary to the argument of Lawan, the prosecution’s evidence at the trial court was not in any way discredited, hence the rejection of his no-case submission.

FCT High Court Judge, Okeke Dies Justice Jude Okeke of the High Court of the Federal Capital Territory is dead. The 64-year-old died at the National Hospital in Abuja. Justice Okeke until his demise occupied the ninth position in

the hierarchy of the FCT High Court judges. He hailed from Idemili North Local Government Area of Anambra State. The deceased was said to have complained of chest pain a few

days ago before his condition worsened. He was called to Bar in 1985 and completed his National Youth Service Corps (NYSC) the following year. He was in active private

practice of Law until he was appointed as a Judge in the FCT High Court in 2007. With his death, the number of FCT High Court judges has dropped from 34 to 33.

FG Re-arraigns Adoke over Alleged Money Laundering Alex Enumah in Abuja The federal government yesterday re-arraigned a former Attorney General of the Federation and Minister of Justice, Mr. Bello Adoke over alleged corruption and fraud charges. Adoke alongside an oil magnet, Alhaji Aliyu Abubakar were rearraigned on a 14- count amended criminal charge bordering on money laundering to the tune

of over N2 billion. The Economic and Financial Crimes Commission (EFCC) had on two previous occasions arraigned the defendants before the Federal High Court, Abuja on similar charges. They were first arraigned before Justice Binta Nyako in February 2020 and then Justice Inyang Ekwo on June 17, 2020 on a seven-count criminal charge. Justice Ekwo had in June while

admitting the defendants to bail, fixed August 3, for commencement of trial. However, the trial could not commence on that day following the amendment of the former charge. Prosecution counsel, Mr. Bala Sanga had drawn the court’s attention to the amended charge dated July 22 and filed July 29 and sought for the arraignment of the defendants on the new

charge. However, the judge having noted that the amended charge was not before the court adjourned proceedings to the following day. At the resumed hearing, Sanga applied to withdraw the amended charge filed on July 29 and prayed the court to replace it with another filed on August 3, adding that the latest charge had been served on the defendants.

WEDNESDAY AUGUST 5, 2020 ˾ T H I S D AY

NEWSXTRA

FG in Fresh Moves to End ASUU Strike Endorses physical meeting with union

Onyebuchi Ezigbo in Abuja The federal government is set to communicate with the leadership of the Academic Staff Union of Universities (ASUU) over the industrial action the union embarked upon on April 9, 2020. The subject of the expected letter is to ask the striking lecturers to get ready to resume work while tabling their grievances for consideration. Unlike when the government rejected ASUU’s preference for

physical meeting, the former has now accepted to fix a date for resumption of negotiations if the lecturers suspend their four-month-old strike. A reliable source, who confirmed the latest plan by the federal government to THISDAY yesterday, said although no date has been fixed for the next meeting with ASUU, a letter is to be sent to the union before the end of the week as a measure of goodwill, to urge the leadership of the union

to suspend their action so that schools can resume. “The move is meant to solicit the cooperation of the university lecturers in the efforts to put necessary mechanism in place for the reopening of tertiary institutions after months of closure due to COVID-19 pandemic.

“The federal government will write to request that ASUU should suspend its industrial action to enable talks to commence on their grievances. The suspension of the strike is also important to get the university teachers involved in the preparations for the reopening of the institutions,” the source said.

The federal government had earlier planned a virtual meeting to sort out outstanding issues with ASUU, but the union said it preferred physical meeting which it felt would be able to trash out their main problem. However, the government source said with the reviewed

COVID-19 lockdown, consideration for a physical meeting with ASUU is on. He said the Ministry of Labour and Employment, which coordinates the negotiations, has started consulting other ministries and stakeholders to agree on a date for resumption of talks.

Police Ofﬁcers Redeployed from EFCC Get New Postings IG denies compelling mobile commanders to fund training college Kingsley Nwezeh in Abuja The Inspector General of Police (IG), Mr. Mohammed Adamu has approved the redeployment of police officers who were serving at the Economic and Financial Crimes Commission (EFCC), to different commands across the country. This is coming as Adamu yesterday denied compelling mobile police commanders to raise millions of naira for the construction of a police training school in Nasarawa State, his home state. The IG had earlier recalled some officers attached to the anti-graft agency to ensure unhindered investigation of the suspended acting Chairman of the commission, Mr. Ibrahim Magu. Adamu had also ordered the withdrawal of policemen attached to Magu shortly after the probe into the EFCC began.

In a memo dated August 4, 2020, the Force Secretary, Mr. Alkali Usman, said eight Chief Superintendents of Police (CSP) had been given new assignments. They are Abdullahi Lawal and Ibrahim Aliyu who were redeployed to Maiduguri, Borno State; Hamisu Dan-Usman and Umar Babangida to Yenagoa, Bayelsa State, while Mohammed Alkali was moved to Akure, Ondo State. Others include: Mailafia Yakubu posted to Awka, Anambra State, Denis Neanolue to Katsina and Abdullahi Mohammed to Interpol. He said the redeployment is with immediate effect. Meanwhile, Adamu yesterday denied ordering mobile commanders to raise millions of naira for the construction of a police training school in Nasarawa State.

Fire Guts ECOWAS Commission in Abuja Adedayo Akinwale in Abuja Some offices at the Economic Community of West African States (ECOWAS) secretariat in Abuja were damaged yesterday when a fire incident broke out at the commission. Though details of the fire incident were still sketchy as of the time of filing this report, a reliable source told THISDAY that the fire incident indeed occurred but was successfully put out.

When asked to give further details, he said he had no authority to speak on the incident. “I have no details. I’m not even authorised to speak on this issue, I don’t even have clearance to speak on this. There was fire incident, I have learnt because people have called to enquire. I made some necessary calls- there was but I have learnt it has been put out,” the source said.

NNPC Fixes Petrol Ex-depot Price at N138.62 Per Litre The downstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), the Petroleum Products Marketing Company (PPMC), has fixed the ex-depot price of petrol, at N138.62 per litre. The ex-depot price is the price at which depot owners sell the commodity to retail outlets. In recent times, the ex-depot price per litre of petrol is normally around N15 lower than the pump price, as the marketers would add cost of transporting the commodity from the depots to their retail outlets, in addition to other costs, such as marketers’ margin among others. In a memo in Abuja, signed

by Manager, Sales, PPMC, Mr. Mohammed Bello, disclosed that the new price would come into effect from August 5, 2020. The PPMC put the ex-coastal price of the commodity, which is the price at which the product is sold to depot owners, at N113.70 per litre. The PPMC also put the Exdepot price for diesel, at N160 per litre and N165 per litre, for depots in Lagos and Oghara respectively, while ex-depot price for kerosene was put at N160 per litre. It is expected that oil marketers would adjust their pump price to between N145 to N155 per litre.

SIGNED AND SEALED...

Managing Director of Kaduna Refinery and Petrochemical Company (KRPC), Mr. Ezekiel Osarolube (left), and Chief Technical Officer, Kaduna Electric, Mr. Bello Musa, after the signing of an agreement for connecting KRPC to the national grid in Kaduna...yesterday

Buhari Reappoints Osemwengie as Investment Tribunal Judge Martins Ifijeh President Muhammadu Buhari has reappointed Nosa Smart Osemwengie as full-time member and judge of the Investments and Securities Tribunal (IST) for a second term. IST is a specialised court for the resolution of disputes in the Nigerian capital market industry. Osemwengie’s reappointment takes effect from August 1, 2020

and would be for a period of four years. Before his reappointment, he had served as Director, Registry Department and the Director, Legal Services at the Tribunal. He had also served as acting Chief Registrar of the Tribunal. He was a member of the national committee that drafted the Investments and Securities Act (ISA), 2007. Osemwengie attended the

University of Lagos, Akoka where he obtained a Bachelor’s degree in Mass Communication, (Second Class Upper) division, emerging as the best overall department student in 1985. He also obtained a Bachelor of Law degree from the same university. He was called to the Nigerian Bar in 1989. He also holds a Masters in Business Administration (MBA), and is an associate member of the Chartered Institute of Mediators and Conciliators, Nigeria.

Osemwengie started his working career as a judicial reporter with The Guardian in 1985. Upon being called to the Bar in 1989, he worked with the Law firm of Fred Agbaje and Co as counsel. He joined Magnum Trust Bank Ltd (now Sterling Bank Plc.), Lagos in 1992 and worked in various departments including Corporate Banking, Customer Service , Legal & Personnel.

Online Church Not an Excuse to Miss Physical Service, Says Adeboye The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has declared that online church is not an excuse for members of his church to miss physical church services. He charged all members of the church to begin attending service on Sunday following the decision of the Lagos and Ogun state governments to lift the restriction on worship centres. In a video message release

yesterday and titled, ‘From Lockdown to Leaping Up,’ Adeboye argued that although some services will continue to hold online, congregants must be physically present in church as it attracts more blessings. The revered pastor said people should not be deceived into thinking that attending service at home had become a permanent thing. “I want to encourage you that all the churches go back

for fellowship and begin to enjoy the benefits of corporate prayers again. You know, the Almighty God in Hebrews Chapter 10 verse 25 that we should not forsake the assembly of one another. “There are those who will talk to you and say ‘why don’t you continue to stay at home? After all, you can pray at home and God will hear you’. Yes, I agree. Anywhere you cry unto Him, He will answer. But He says specifically in Matthew Chapter 21

Verse 13 that His house is called the House of Prayers. “In other words, He himself designated the House of God as a place where you will pray and the answer will come fast. That is the reason why you find David saying in Psalm 122 Verse 1 that I was glad when they said unto me, let us go to the house of the Lord because He knows that when you go to the house of the Lord, you will be in his presence where there is fullness of joy.”

FCTA Demolishes 102 Houses on Flood Plains Olawale Ajimotokan in Abuja

The Federal Capital Territory Administration (FCTA) has commenced the demolition of about 102 houses built on water channels in the Gwagwalada Local Government Area of the territory. The exercise carried out by the

FCT Department of Development Control was the fallout of the flash flood that wiped out a family of five in Giri-Kpasere on Airport Road axis of the council area a few days ago. The Deputy Director, Monitoring and Enforcement, Department of Department Control, Garba Kwamkur,

disclosed yesterday that the FCT government had no other option than to bulldoze the marked houses in the light of the recent forecast of more rains and flooding in the affected area. He noted that the demolished structures were marked more than one year ago, adding that the residents were duly notified

to evacuate the flood prone plains. Kwamkur also added that the demolished community was part of a land covering about 260 hectares captured in the Abuja Master Plan for the development of the University of Abuja in Gwagwalada.

Anambra Police Investigate Man over Wife’s Alleged Suicide David-Chyddy Eleke in Awka Police in Anambra State have commenced investigation into the case of a woman, Mrs. Calista Ojinnaka, who allegedly committed suicide on July 26, 2020, by hanging self with a rope tied to a ceiling fan in her house in Onitsha. There has been doubt about the claims of the husband to the

deceased, Mr. John Ojinnaka, that she had spiritual problem and may have taken her life. The spokesperson of the state Police Public Relations Officer, SP Haruna Mohammed, who spoke with THISDAY yesterday, said the command has commenced a thorough investigation into the matter. Though he declined further comment, he simply said: “Yes,

I can only tell you that the case is under investigation to ascertain the actual cause of the incident.” Meanwhile, a source who lives close to the deceased, stated that the husband was the primary suspect, and was still being detained, especially as he ran away from the house to report to the matter to the police, after some neighbours noted that Mrs Ojinnaka could

not have committed suicide as her body was not dangling in the air, but was rather found kneeling down at the centre of the room, with a rope on her neck. The deceased had on July 26, 2020, found hanging on a loose rope tied to ceiling fan inside their apartment at No. 2, Uzodinma Street, Fegge, Onitsha.

WEDNESDAY AUGUST 5, 2020 ˾ T H I S D AY

NEWSXTRA

Sultan, CAN Lament Rising Insecurity Onyebuchi Ezigbo in Abuja The Christian and Muslim leaders under the auspices of the Nigerian Inter-Religious Council (NIREC) have cried out against the rising insecurity in the country. The body, which is co-chaired by the Sultan of Sokoto and the President General of the Nigeria Supreme Council for Islamic Affairs (NSCIA), Alhaji Muhammadu Sa’adAbubakar, and the President of the Christian Association of Nigeria (CAN), Rev. Samson Olasupo Ayokunle, said that it was constrained to call on the government to provide security for the Nigerian citizens. A statement that was issued yesterday by the Executive Secretary of NIREC, Rev. Fr. Cornelius Afebu

Omonokhua, said that the council is worried over the spate of killings and carnage visited on innocent Nigerians in various parts of the country. The statement reads: “The NIREC is worried that the threats and killings keep spreading. We condemn the carnage on human life especially the recent killings of 76 people in Sabon Birni Local Government of Sokoto State; RuwanTofa Dansadua district in Zamfara State; ZagonKataf Local Government Area in Kaduna State; Bethel Baptist Church AgudaDauruwan in Kogi State and the attack on the convoy of the Borno State Governor, Professor Babagana Umara Zulum at Baga. We condemn absolutely, the political thuggery that threatens human life and peaceful coexistence.”

The NIREC recalled that during his traditional Sallah homage to the Governor of Borno State, the Shehu of Borno, Alhaji Abubakar Ibn Umar Garbai ElKanemi cried out that his people in Borno are no longer safe. “Consequently, Maiduguri, in particular should not be allowed to be run over by the insurgents who have been throwing mortar there, killing people. These show how serious the state of insecurity is in the nation. These situations and the likes are of grave concern to the NIREC. The unabated carnages leave the citizens in a state of complete despair as economic activities are almost paralysed.

Ehanire: Exclusive Breast-feeding Can Save 20,000 Lives Annually Onyebuchi Ezigbo in Abuja The Minister of Health, Dr. Osagie Ehanire, has said that the lives of an estimated 20,000 children would be saved if nursing mothers would strictly observe six-month exclusive breastfeeding. Ehanire said that the ministry is currently reviewing the national guidelines on the Baby Friendly Initiative (BFI), which encompasses baby friendly services in the hospital, community and workplace. The minister stated this yesterday during the celebration of the 2020 World Breastfeeding Week. Quoting a publication by the World Health Organisation (WHO), on breastfeeding, Ehanire said “that scaling up breastfeeding

practices to almost universal level could prevent an estimated 823,000 annual deaths, or 13·8 per cent of all deaths of children younger than 24 months. “Breastfeeding also provides health benefits to mothers, by helping to prevent postpartum bleeding, support child spacing, lower the risk of breast and ovarian cancers and earlier return to pre-pregnancy body weight. “An estimated 20,000 maternal deaths could be prevented annually if optimal breastfeeding were practiced,” he said. The minister regretted that the breastfeeding indices in Nigeria are below optimal despite the benefits accruing from exclusive breastfeeding practice.

He said that the National Demographic and Health Survey of 2018 showed that 97 per cent of children were breastfed at one point or the other but only 42 per cent were put to breast within an hour of birth while the proportion of children that had exclusively breastfeeding within their first six months was a mere 29 per cent. Earlier in his remark, the Minister of State for Health, Senator Olorunmibe Mamora, said that apart from being the most single cost-effective intervention for saving infant lives, improving the health, social and economic development of individuals, breastfeeding helps to lowers the risk of hypertension and diabetes.

NDDC Spent N10bn to Stop My Re-election, Wike Alleges Davidson Iriekpen Rivers State Governor, Mr. Nyesom Wike, has described the Niger Delta Development Commission (NDDC) as a cash cow for politicians, accusing the commission of doling out N10billion to stop his re-election in 2019. Wike insisted that the ongoing probe of the Interim Management Committee (IMC) of the commission should be expanded to involve activities of previous managements. The governor, who spoke in a live television interview, said though he was not in a position

to suggest to the ruling All Progressives Congress (APC) how to run the commission, the existing approach of involving politicians in the affairs of NDDC would continue to be counterproductive. Wike said politicians must stay away from the NDDC, noting that only technocrats should be used to manage the commission to enable it live up to its mandate of developing the Niger Delta region. “I have said before and it is very clear; my concern is, everyone knows that the NDDC was set up for the development of the region.

“Unfortunately, they have turned it into a different thing. NDDC is a cash cow for politicians. “When they are talking about probing the IMC, I said why only the IMC? What about the other guy, Prof. Brambaifa and the rest of them. In my own election, NDDC brought N10billion cash to fight against us. They haven’t invited us”. Wike said he faulted the method adopted by NDDC in project execution and took them to court on the need to consult with the state government before executing its projects.

20 Journalists Receive Grants for Investigative Reports on Corruption A total of 20 journalists have received grants aimed for investigative reports and research on corruption and tracing of illicit assets. The grants were provided by Human and Environmental Development Agenda (HEDA Resource Centre) in collaboration with Cornerhouse, Finance Uncovered, Premium Times Centre for Investigative journalism and University of Kent, London. The project is funded by Open Society Initiative for West Africa, (OSIWA)/OSF and MacArthur foundation.

A statement issued yesterday by HEDA Resource Centre signed by its Chairman, Mr. Olanrewaju Suraju recalled that earlier in March the consortium had called for application from interested persons for the anti- corruption grant for investigative reporting and research. At the end of the application process, a total number of 45 applicants expressed their interest in the grant. After review by a technical team, 20 applicants were selected for the grant. Journalists were selected based on quality of applications submitted.

Successful applicants submitted a three-month investigation work-plan, potential total cost of investigation with a realistic and verifiable budget. “The grant for anti-corruption investigative reporting and research is designed to empower journalists, activists, citizens as well as actors within the private and public sectors towards engaging in demand for accountability, probity and transparency through research, monitoring and reporting corruption, money laundering, noxious assets and illicit financial flow in and out of the country.”

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢ T H I S D AY

WEDNESDAY AUGUST 5, 2020 â&#x20AC;¢T H I S D AY

Ë&#x153; Í˝Ë&#x153; ÍşÍ¸ÍşÍ¸ Ëž T H I S D AY

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Ighalo Retained in Man Utdâ&#x20AC;&#x2122;s 30-man Europa Squad Duro Ikhazuagbe Former Super Eagles forward, Odion Ighalo, has been listed in Manchester Unitedâ&#x20AC;&#x2122;s 30-man squad for the knockout phase of the Europa League. The Shanghai Shenhua star in the Chinese Super League on loan at Old Trafford till end of January is likely to be in action this evening against Austriaâ&#x20AC;&#x2122;s LASK in the Last -16 second leg clash in Manchester. In the list of United players for the restart of the second tier UEFA competition posted on the clubâ&#x20AC;&#x2122;s website on Tuesday morning, the AFCON 2019 top scorer kept his place as he hopes to get on the scorersâ&#x20AC;&#x2122; sheet again today like he did

Odion Ighalo...listed in Man Utdâ&#x20AC;&#x2122;s 30-man Europa

against the Austrians just before the lockdown in March. Only two players are missing from the previous line up. They are injured Luke Shaw and Axel Tuanzebe. Manager Ole Gunnar Solskjaer, replaced the duo with Teden Mengi and Ethan Laird. In the 30-man list are: Four goalkeepers, 10 defenders, 11 midfielders and five strikers. The Nigerian international is competing with Mason Greenwood, Anthony Martial, Marcus Rashford and Tahith Chong for a place in the starting lineup. Since joining United on transfer deadline day last January, Ighalo has been involved in all the matches played by the Red Devils in the Europa League, scoring two goals and providing an assist. Ighaloâ&#x20AC;&#x2122;s stunning strike against LASK on March 12 won him Manchester Unitedâ&#x20AC;&#x2122;s Goal of the Month award for March 2020. Meanwhile, Solskjaer has confirmed that there is likely to be plenty of changes to the Manchester United starting XI when the team resume their campaign this evening against LASK. The Reds boast a healthy 5-0 advantage from the first leg in Linz and the Norwegian said the team he selects for the second leg against the

Austrians is likely to be similar to the one that earned that lead - although he confirmed there would be at least one change. â&#x20AC;&#x153;Jesse (Lingard) will be starting on Wednesday (today), but the team wonâ&#x20AC;&#x2122;t be too different to the last time we played LASK away in March,â&#x20AC;? said the Norwegian. â&#x20AC;&#x153;We know that it will be a difficult game. It wasnâ&#x20AC;&#x2122;t a

5-0 game (in the first leg). We scored three goals in the last five, so of course we know that we have to perform. Thereâ&#x20AC;&#x2122;s opportunities for players (who do well in this game) to play in the quarters if we get through.â&#x20AC;? Only Harry Maguire, Bruno Fernandes, Greenwood and Ighalo were involved in both Manchester Unitedâ&#x20AC;&#x2122;s last Premier League game and

the first leg against LASK, so there are likely to be plenty of alterations. If United successfully navigate the second leg against LASK, and ensure their 5-0 lead is not overturned, Solskjaerâ&#x20AC;&#x2122;s team will travel to Germany for the mini-tournament that will complete the 2019/20 Europa League. The Reds will play either

Istanbul Basaksehir or Copenhagen in the last eight, in a game which is scheduled to take place at the Koln Stadion on Monday. United are likely to face one of Olympiacos, Roma, Sevilla or Wolverhampton Wanderers in the semi-final. Both semi final and final are due to take place in Cologne.

Zidane Beats Klopp, Guardiola to Be Named Best Club Manager Real Madridâ&#x20AC;&#x2122;s Head Coach, Zinedine Zidane, has been named the Best Club Manager in the world but former champion Jose Mourinho has â&#x20AC;&#x2DC;lost his magic and mojoâ&#x20AC;&#x2122;. Thatâ&#x20AC;&#x2122;s according to leading French newspaper Lâ&#x20AC;&#x2122;Equipewho have listed their rankings of the best club bosses in world football. Jurgen Klopp and Pep Guardiola joined Real Madridboss Zidane in the top three with the Frenchman pipping the Liverpooland Manchester Citymanagers in the table. Zidane guided Real to the LaLiga title earlier this month, overtaking Barcelona who had held a two-point lead before the season resumed in June. The 49-year-old will take his side to the Etihad to face Guardiolaâ&#x20AC;&#x2122;s City on August 7 for the second leg of their UEFA Champions League last-16 tie. And despite losing the first encounter 2-1 at the Bernabeu in February, Lâ&#x20AC;&#x2122;Equipe believes Zidane ranks higher than the former Barcelona coach. The newspaper wrote: â&#x20AC;&#x153;He (Zidane) is a coach who has experienced only one club, and quite rarely defeat. â&#x20AC;&#x153;A coach who did what none of his predecessors did, win three Champions Leagues in a row (2016, 2017, 2018), who was able to return to the footsteps of his own glory and question everything to become a new Spanish champions with Real Madrid last month. â&#x20AC;&#x153;Guardiola has something else, his dogma, his permanent

research, the virtuosity of his collective game, dizzying constructions, his consistency (198 points in two seasons from 2017 to 2019), but he does not have everything, and chooses his central defenders as his attackers or midfielders.â&#x20AC;? The outlet noted Kloppâ&#x20AC;&#x2122;s success and â&#x20AC;&#x2DC;charismaâ&#x20AC;&#x2122; in bringing Liverpool their first league title in 30 years, describing him as the â&#x20AC;&#x2DC;fashionable manâ&#x20AC;&#x2122; and â&#x20AC;&#x2DC;favourite of manyâ&#x20AC;&#x2122;. But they also pointed out the German has won just one of his three Champions League finals, in comparison to Zidaneâ&#x20AC;&#x2122;s three in a row. The Frenchman defeated Klopp in the 2018 final before the Reds went on to win the competition in 2019. There was little praise for Mourinho, described as Tottenhamâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;fallbackâ&#x20AC;&#x2122; with a â&#x20AC;&#x2DC;fading image and magicâ&#x20AC;&#x2122; who has been â&#x20AC;&#x2DC;agedâ&#x20AC;&#x2122; by his encounters with Klopp and Guardiola. On the Portuguese boss, Lâ&#x20AC;&#x2122;Equipe wrote: â&#x20AC;&#x153;Jose Mourinho has lost his mojo for some time, weakened by the deleterious atmosphere of his ends, reigns at Real Madrid, Chelsea and Manchester United. â&#x20AC;&#x153;Here he is at Tottenham, equal to himself, still as efficient in the negotiations, still brilliant in press conference, still boring in the game, but seeming a million miles from his former glory.â&#x20AC;? With Mourinhoâ&#x20AC;&#x2122;s second seasons historically being his best, the newspaper claims he is at a pivotal point in his career at Spurs.

Zinedine Zidane...named Best Club Manager in the world

Covid-19: Footballers, Coaches Scared to Return to Actions in Ghana Some players and coaches in Ghanaâ&#x20AC;&#x2122;s professional football leagues have told the BBC Sports Africa that they are â&#x20AC;&#x153;scaredâ&#x20AC;? to resume playing and that football is â&#x20AC;&#x153;not readyâ&#x20AC;?. The Ghanaian government is keen for football to return and has approved a resumption in mid-August despite the country having more than 32,000 confirmed cases of Covid-19. However the Ghana Football Association (GFA) would prefer to restart in October. There has been no football in Ghana since the suspension of sporting activities in March amid the coronavirus pandemic. But some players and technical team members told BBC Sport Africa that they fear more players contracting the virus upon resumption. â&#x20AC;&#x153;We are not ready for our football to come back.â&#x20AC;? said

Tony Lokko, Inter Allies coach. â&#x20AC;&#x153;I have been communicating with my players and they are also scared, Look at the situation we are all scared of the virus. â&#x20AC;&#x153;The health materials we are supposed to put in place are not ready and that is the fear of everyone at the moment.â&#x20AC;? The GFA is yet to outline its plans on how football can return safely and to date has not replied to requests from BBC Sport Africa for a comment on the concerns raised by the clubs. While European leagues have employed wide-ranging health protocols to ensure a safe restart of football - the Premier League alone investing ÂŁ4m to acquire coronavirus testing kit, with each club testing 40 players and staff twice a week - Ghana does not have the money or capacity for such measures. â&#x20AC;&#x153;We do not have the necessary

facilities to observe the medical precautions that have been laid for regular testing of players and technical teamsâ&#x20AC;?, said Lokko Chief Executive Officer of Ashanti Gold, Emmanuel Frimpong, said he is not ready to risk the health of his players with the virus still growing rapidly in Ghana. â&#x20AC;&#x153;For now, it is not a good idea - the health of my players is more important,â&#x20AC;? he said. â&#x20AC;&#x153;Until there is a solution to this virus, I donâ&#x20AC;&#x2122;t think I would like to my expose my players to the danger. This virus is not a joke.â&#x20AC;? However, some players - such as Karela United captain Godfred Agyemang - said they were more optimistic about returning to play - provided they had assurances around health measures. â&#x20AC;&#x153;The virus is still out there, but if the league authorities can assure us of our safety, I am

happy to play,â&#x20AC;? he explained. â&#x20AC;&#x153;I miss football. Itâ&#x20AC;&#x2122;s been a long time.â&#x20AC;? And for some players, any delay in footballâ&#x20AC;&#x2122;s return means a loss of earnings they can ill afford. Arthur Patrick of Dream FC said the coronavirus impact on football means players like him would rather return despite health and safety concerns. â&#x20AC;&#x153;It has not been easy - football is a source of livelihood for we Ghanaian players and all of a sudden, coronavirus stopped our income,â&#x20AC;? he said. â&#x20AC;&#x153;Financially, itâ&#x20AC;&#x2122;s not been okay for us. Been at home for six months has not been easy. â&#x20AC;&#x153;I understand it may be a challenge for our Ghanaian football to follow the precaution off the European clubs but I am trusting the authorities to put things in place.â&#x20AC;?

Dybala is 2019/20 Italian Serie A MVP Juventus and Argentine forward Paulo Dybala defeated his teammate Cristiano Ronaldo to emerge the Italian Serie A Most Valuable Player (MVP) for the 2019/20 season. Serie Aâ&#x20AC;&#x2122;s governing body announced the awards earlier yesterday with Dybala being voted MVP following his strong

campaign for the Bianconeri. Dybala managed 17 goals in all competitions this season and is widely seen as the creative force behind Juveâ&#x20AC;&#x2122;s success this term. He was also one of only three players who produced double figures for both goals and assists in Italyâ&#x20AC;&#x2122;s top flight this season.

Ronaldo scored 31 league goals for Juventus this season, with only Ciro Immobile netting more after finishing on a recordequalling 36 strikes. As a consequence, Immobile beat Ronaldo to the Striker of the Season award. The former Real Madrid star won the award in his debut

season in Italy. Serie A 2019/2020 award: Best Goalkeeper: Wojciech Szczesny Best Defender: Stefan De Vrij Best Midfielder: Papu Gomez Best Forward: Ciro Immobile Best Young player: Dejan Kulusevski MVP: Paulo Dybala

Wednesday August 5, 2020

UT H

& RE A SO

Price: N250

MISSILE

FIRS to NIPOST

“It is therefore shocking to us at the FIRS that such a privileged young lady who happened to be appointed to high oﬃce would throw all caution to the air to cast aspersions on reputable public institutions like the National Assembly and the FIRS, which she accused of stealing NIPOST idea. This, to say the least, is a preposterous claim and great disservice to the government and people of Nigeria” – FIRS vowing to ensure that all monies collected by NIPOST into its Stamp Duties Account are fully recovered.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Buhari and His Kitchen Cabinet F or five years now, the kitchen cabinet of President Muhammadu Buhari has been in the news for various reasons. This kitchen cabinet is markedly different from the cabinet that the President would preside over its meeting in Aso Rock this morning. A recent report that the President’s nephew, Mallam Mamman Daura, expressed (personal) preference for “competence” over “power rotation” in electing a Nigerian president has generated so much heat and less light in the public sphere. Daura does not hold any official position. He is simply described as a member of the “cabal” controlling the presidency. The public reaction provoked by Daura’s view is a measure of how much weight is assigned to the power of the “cabal.” To be sure, Buhari did not invent the political category called kitchen cabinet, which some prefer to call the “cabal.” Unlike the modern usage of the word, cabal, as a power-grabbing clique, the original cabal didn’t operate in the secrete. King Charles II actually had a Ministry of Cabal in England, which had tremendous influence on power. Cabal became an acronym formed from the combination of the initials of the original members of the group which operated openly. They were Thomas Clifford, Anthony Ashley -Cooper, the 2nd Duke of Buckingham (George Villiers), the 1st Earl of Arlington (Henry Bennet) and the 1st Duke of Lauderdale (John Maitland). If there is an element of conspiracy theory in the modern usage of the word, cabal, the alternative political term, kitchen cabinet, was initially used derisively. It has, however, become more elegant in use in modern times. Kitchen cabinet was originally used to mock the “informal circle of advisers” of the 7th American president, Andrew Jackson. According to Robert McNamara, the “ real power in Jackson’s administration rested with a circle of friends and political cronies who often did not hold official office.” Among the members of Kitchen cabinet of Jackson were cronies, old politicians, formal appointees, newspaper editors, childhood friends and supporters of the administration. McNamara himself was the Secretary of Defence in the administration of President John Kennedy and Lyndon Johnson. Kennedy had his own kitchen cabinet on whom he relied heavily for informal advice. A prominent member of Kennedy’s kitchen cabinet was George Kennan, reputed to be one of those who framed the policies of the Cold War. He was a link between some intellectuals outside power and the president. In fact, McNamara puts it this way: “In modern usage, the kitchen cabinet has generally lost the suggestion of impropriety. Modern presidents are generally expected to rely on a wide range of individuals for advice, and the idea that ‘unofficial’ persons would be advising the president is not seen as improper, as it had been in Jackson’s time.” So, instead of members of the public developing bugbears about Buhari’s Kitchen cabinet, some pertinent questions should rather be asked: Are the activities of the members of Buhari’s kitchen cabinet serving the public purpose? Are they acting in the national interest in advising the President?

Buhari Do they even have a national outlook of things? What governance ethics are they bringing to the presidency? These and many more important posers ought to be posed instead delegitimating the existence of a kitchen cabinet. Come to think of it, Buhari’s predecessors had their own kitchen cabinets in one form or the other. Since by definition, kitchen cabinets are usually informal, things might not have congealed enough in the loose arrangements to assess the operations of some of the kitchen cabinets of the past. Power brokers have always been part of Nigeria’s presidential politics. For instance, it is too early to forget the conspicuous bright stars of the administration of President Olusegun Obasanjo. While even the harshest critic of Obasanjo could not accuse him of lacking the grip on his government, some ladies and gentlemen wielded so much power in the administration to influence the course of history. Some of them even went outside their remit to make certain things happen or to prevent some other things from happening. These compatriots represented various parts of the country and different religions. They posed as “technocrats” at the time, fairly sharing a common right-wing ideology in driving policies. Some of them have since become rugged politicians. Perhaps things have become so problematic with the Buhari kitchen cabinet because of its manifest lack of diversity in a multi-ethnic and multi-religious polity. So, the kitchen cabinet

The challenge of the moment is how the combination of the workings of the Federal Executive Council and the kitchen cabinet would make Buhari fulﬁl the promise he made to the electorate during the election

is not benefiting from multiple perspectives, backgrounds and orientations. It is particularly unhelpful that Daura has unwittingly put 2023 on the agenda at the most inappropriate time. Even those who casually observe the dynamics of power in Nigeria are not going to take seriously the clarification from Aso Rock that he didn’t speak for the President. Daura’s critics have interpreted his advocacy for “competence” to mean that the northern faction of the ruling class would not agree that the southern faction of the class should produce the next president. The material irrelevance of the ethnic or regional origin of the president and his team to the condition of the poor people is remarkably ignored on both sides of the debate. Yes, Buhari is currently taking the northern turn in what Daura disapprovingly describes as a “turn by turn” political arrangement. Pray, of what relevance is this northern presidency to the victims of banditry in the President’s home state of Katsina or northwest states of Zamfara and Kaduna? From the sad news from Katsina state, there appears to be ungoverned spaces in the home state of President. What is the benefit of the northern turn at exercising presidential powers to those children who are out of school roaming northern streets and their parents living in mud houses without potable water? Some of the Buhari appointees who hold important security and defence portfolios are from the north east. What does that mean to the lives of anguish of the Internally Displaced Persons (IDPs) from that zone who have been living in camps for years while Boko Haram continue to kill defenceless people and destroy villages? Even the convoy of the governor of Borno state, Professor Babagana Zulum, was attacked last week. Soldiers are still losing their lives in the 11-year old war. So, has the “northern presidency” (as politicians erroneously call Nigerian presidency) made northern Nigeria more secure than southern Nigeria? No, the climate of insecurity pervades the whole nation while poverty and inequality which define socio-economic existence are realities all over the country. Worse still, the question of who would succeed Buhari is not the urgent question of the moment. The urgent question is how Buhari would fulfil his promise to the Nigerian people by ensuring security, reducing poverty and honestly fighting corruption. Consciously promoting national unity could be added to the tasks before the President. The highly cerebral Daura should rather directly or indirectly be stimulating national debates about these life and death issues for the purpose of harvesting ideas for solutions. The Kaduna Mafia, of which Daura was a core member, was respected for its rigour by even its political opponents. To be sure, the Kaduna Mafia wasn’t a mafia of felons; it was a conservative network of strategically thinking elements based mainly in Kaduna, the political capital of northern Nigeria. The name was probably given to the group by its critics like many other things in life. Their claimed mission was to protect northern interest. Among members of the informal group of the elite were intellectuals, bureaucrats, military elements, businessmen etc. The positions of the Kaduna Mafia elicited spirited responses

across the political and regional divides. Such was the intellectual influence of the Kaduna Mafia that a group of progressive scholars from the north came up with a 1987 book in response. The book, edited by Bala Takaya and Sonni Tyoden, is entitled The Kaduna Mafia: A Study of the Rise, Development and Consolidation of a Nigerian Power Elite. There is hardly any evidence of rigour of ideas in what is on display in Abuja as governance. Even the elementary factor of cohesion is lacking. To have a grip on things, at least there must be unity of purpose in government. It doesn’t appear there is a grip on the security situation when the National Assembly has to join other patriotic forces in calling for the change of service chiefs. Yet, the Commander-in-Chief would not bulge. Maybe, the political anxiety about the operations of Buhari’s kitchen cabinet would not be rife if competence is glaringly demonstrated in matters of governance. To be fair to Buhari, he once lamented that he wished he had got the opportunity to govern in his younger days. The deficits in capacity implied in such an honest statement are usually filled by a competent team including, crucially, the members of the kitchen cabinet advising the President. For clarity, presidents elsewhere had deficits in their capacities to govern to the optimum. It was post-humously reported that the ailment that the former French president, Francois Mitterrand, died of had been diagnosed while he was in office. But the impact of the alleged ailment did not make the government to suffer a moral collapse, much less policy confusion. Even before former American president, Ronald Reagan, was diagnosed of a terminal disease, he was never a man of details. His forte was not the nitty gritty of governance. But he had a big vision of what direction he was leading America. He was an inspirer who had the knack for assembling a competent and coherent team. The powerful kitchen cabinet of Buhari (however informal or covert it may be ) owes Buhari and the nation the responsibility for bridging the huge governance deficits plaguing the administration. To start with, the kitchen cabinet should advise Buhari to bring cohesion into the administration so that there would be coherent policy formulation, articulation and implementation. It should ordinarily be a good thing that the President delegates power and trusts appointees absolutely with responsibilities. It is said that even as an officer in the army delegation of powers was Buhari’s administrative culture. A deficit arises when there is no proper coordination. Buhari has constituted the federal cabinet according to the constitution. That’s where the constitutional obligation ends. It’s the president’s political choice how he assembles his kitchen cabinet to generate ideas. The challenge of the moment is how the combination of the workings of the Federal Executive Council and the kitchen cabinet would make Buhari fulfil the promise he made to the electorate during the election. What the public should, therefore, demand is the delivery of competent governance from the President.

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