WEDNESDAY 11TH AUGUST 2021 by THISDAY Newspapers Ltd

APC, PDP Leadership Crises Resolved Ruling party’s govs back Buni, as Secondus survives in no victor, no vanquished decision

Chuks Okocha, Adedayo Akinwale in Abuja and Treasure Chinelobi in Abuja Conscious of the implications of the current state of their parties to surviving the next general election,

the leaderships of both the ruling All Progressives Congress (APC) and the opposition Peoples Democratic Party (PDP), have finally got a hold of their respective challenges, setting the parties on new opportunities. In the APC, the Progressive

Governors Forum (PGF), umbrella body for governors elected on the platform of party, has reaffirmed its support for the Caretaker/ Extraordinary Convention Committee of the party led by the Yobe State Governor, Mai Mala Buni

and asked it to proceed with the conduct of the local government and state congresses, as well as the national convention of the party, in line with the mandate of the National Executive Committee (NEC).

However, in the PDP, after two major meetings of the party’s stakeholders and Board of Trustees (BoT) members, its leadership agreed to allow the Uche Secondus National Working Committee (NWC) to continue in office till the next

national convention, which has been brought forward from December to October, but with an understanding that the current NWC members would not seek re-election. Continued on page 10

CBN Sets N10bn Capital Base for Credit Guarantee Companies ...Page 5 Wednesday 11 August, 2021 Vol 26. No 9620. Price: N250

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Battle-fatigued, Leaderless, 1,000 B'Haram Members Surrender to Gallant Troops Yahaya urges others to follow suit, renounce hostilities Concerns over pampering of repentant terrorists Kingsley Nwezeh in Abuja The federal government has recorded a big break in the fight against insurgency after some 1,000 battle-fatigued, leaderless and evidently demoralised Boko

Haram members and their families surrendered to the Nigerian troops. Decimated by military's air strikes and artillery bombardment, the months-long operations had culminated in the death of the terrorists’ leader, Abubakar Shekau,

who passed on after detonating a bomb during a negotiation to surrender by other fighters of the Islamic State for West African Province (ISWAP), who had surrounded his base in Sambisa Forest in the North-east.

The repentant Boko Haram members, according to a statement by the army, included the chief bomb expert of Boko Haram, known as Musa Adamu a.k.a Mala Musa Abuja, and his second in command, Usman Adamu a.k.a

Abu Darda. However, while the Chief of Army Staff, Lieutenant General Faruk Yahaya, has asked other insurgents to abandon their illegitimate cause and also surrender to troops, the development has elicited

huge concerns amongst Nigerians following the release of pictures of repentant terrorists being extended kind treatments, including provision of clothes, beverages and drinks Continued on page 10

BEHOLD THE PDP PEACEMAKERS... L:R: Chairman, PDP Reconciliation and contacts committee and former senate President, Senator Bukola Saraki; former SGF and Former President of the Senate, Senator Pius Anyim; former Senate President and former Minister for Education, Senator Iyorchia Ayu; former Senate President, Senator David Mark; former Deputy Senate President, Senator Ike Ekweremadu and Former Deputy Speaker, Hon. Emeka Ihedioha at the opening of the expanded meeting of the party organs to settle the impasse in the main opposition party at the party's national secretariat, Wadata House, Abuja....yesterday

NAFDAC: Nigeria to Begin Local Manufacturing of COVID-19 Vaccines By 2022... Page 5

WEDNESDAY AUGUST 11, 2021 • T H I S D AY

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NEWS

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

NAFDAC: Nigeria to Begin Local Manufacturing of COVID-19 Vaccines By 2022

Says three herbal drugs undergoing clinical trial FG trains 40,739 health workers for second phase of vaccine roll-out

Onyebuchi Ezigbo in Abuja The federal government has said it is targeting to commence local manufacturing of COVID-19 vaccines in the next 12 months. This is just as the federal government yesterday said it has concluded the training of about 40,739 health workers across the nation for the phase two vaccine roll out. The Director General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye, who revealed

government's planned local manufacturing of COVID-19 vaccines while speaking on ARISE News Channel’s ‘The Morning Show,’ also said the agency has commenced clinical trials on three local herbal medicinal products for the treatment of the virus. Adeyeye said the government was concerned about the absence of medicine security and its implications for the healthcare needs of the people. She said the federal government was particularly worried about current challenges posed by inadequate supply of the vaccines

to take care of millions of Nigerians, adding that the government was working diligently to start local manufacturing of the vaccine. When asked to give update on the plan to establish a factory in Nigeria that would undertake local manufacturing of COVID-19 vaccines, Adeyeye said: "In terms of local manufacturing, the federal government is working assiduously to ensure that there will be local manufacturing of vaccines within a year.” According to Adeyeye, with less than two per cent of the country's population vaccinated so far, the

federal government was conscious of the constraints posed by lack of drug security. Adeyeye further said NAFDAC has initiated a process to develop herbal medicine products in the country by setting up the Herbal Medicine Product Development Committee to advance the development of herbal medicine. She added that the purpose was to bring herbal medicine practitioners and researchers together so as to subject their products to scientific investigation. She described the development of herbal medicine as a very

SECONDUS SURVIVES… PDP National Chairman, Unche Secondus addressing the press after BoT/ NEC meeting ﬂanked by Governor Ifeanyi Ugwuanyi (L) and Governor Obaseki (R) in Abuja yesterday

CBN Sets N10bn Capital Base for Credit Guarantee Companies Seeks to de-risk, boost lending to MSMEs James Emejo in Abuja The Central Bank of Nigeria (CBN) yesterday pegged at N10 billion the minimum paid-up capital for the establishment of the proposed Credit Guarantee Companies (CGCs) in the country. This was contained in a circular by the CBN titled, "Exposure Draft of Guidelines for Regulation and Supervision of Credit Guarantee Companies in Nigeria," dated August 4, 2021, and addressed to banks, other financial institutions and stakeholders. The apex bank stated that the framework for the CGCs would further provide regulation and basis for the operation of credit guarantee companies. The circular, which was signed by the CBN Director, Financial Policy and Regulations Department, Mr. Ibrahim Tukur, also detailed the permissible and non-permissible activities of the CGCs. A CGC is an institution licenced by the CBN with the primary objective of providing guarantees to banks and other lending financial institutions against the risk of default by obligors. In addition to the minimum capital base, a CGC is also required to pay a non-refundable

application fee of N100, 000, non-refundable licencing fee of N1 million, and change of name fee of N50, 000. The bank stated that the introduction of CGCs became inevitable as it sought to improve access to lending for micro, small and medium scale enterprises (MSMEs) operating in the country. The blueprint also seeks to ultimately reduce credit risk, stimulate lower interest rates on loans, as well as complement other initiatives targeted at stimulating lending to MSMEs. According to the apex bank, the proposed credit risks guarantee firms are expected to provide third-party credit risk mitigation to lenders through the absorption of a portion of the lender's losses on the loans made to Nigeria-based MSMEs in case of default. The CBN further explained that any guarantee issued by a CGC represents a legal commitment to discharge the liability of a borrower in the case of default. Essentially, the guidelines stipulate the minimum standards for the operations of CGCs that provide credit guarantees to Participating Financial Institutions (PFIs). While the provisions of the

guidelines shall apply to CGCs licenced by the CBN, the PFIs shall comply with same provisions as it relates to their activities, the CBN added. Nonetheless, a credit guarantee by the CGC may cover up to a maximum of 75 per cent of the default amount, the central bank pointed out. It added that after the crystallised guarantee had been settled, the PFI and the CGC would be required to take all necessary steps to recover the outstanding sum, adding that the CGC shall be reimbursed to the extent of the recovered sum. The CBN also stated that the cumulative guarantee liabilities of a CGC shall not exceed 10 times of its shareholders’ fund unimpaired by losses. It stressed that the CGCs shall commence operations with, and maintain at all times, a minimum paid-up capital of N10 billion or such amount as may be prescribed by the CBN from time to time. The circular stated, among other things, "The capital adequacy ratio of a CGC shall be measured as the percentage of its shareholders’ funds unimpaired by losses to its total risk weighted assets. "The CBN may require a CGC

to maintain additional capital as the CBN considers appropriate in respect of other specific risks." However, CBN, among other things, barred the CGCs from provision of guarantee to MSMEs based outside Nigeria. The bank also forbade them from accepting demand, savings and time deposits or any other deposits, including provision of credit to customers. The guarantee companies were also exempted from the management of pension funds or schemes, foreign exchange, commodity, and equity trading, as well as all forms of trading in derivatives and swaps. The companies were prevented from collection of third-party cheques and other instruments for clearing through correspondent banks. They are not to purchase, sale, dispose, acquire or lease any real estate for whatever purpose without prior written approval of the CBN. They were required to provide guarantee for risk assets; render advisory services for financial and business development; Invest surplus funds in government securities; and partake in other investments as may be approved by the CBN.

complicated process. According to Adeyeye, NAFDAC undertakes a rigorous process in approving herbal medicines for the listing by inspecting the premises of the practitioner to ensure that it meets the required hygienic standards She also said the agency runs a number of relevant tests before approving herbal medicine products for listing. In addition, Adeyeye disclosed that NAFDAC has so far commenced clinical trials on three herbal medicine products with a view to confirming their efficacy for the treatment of COVID-19. "Since the outbreak of COVID-19, we have approved 45 herbal medicines for listing for temporal approval but you cannot say that they cure COVID-19. Out of these numbers, two or three herbal medicine products have started clinical trials," she said. Adeyeye said listing a product only means that it is now safe for consumption but does not confirm how efficacious such a medicine would be until it is subjected to clinical trials. "It does not confirm how efficacious such herbal drug is until it is subjected to clinical trials. To do clinical trial, it has to be well designed. It is not just that I gave it to 10 people in my village and it worked, but you have to do it in such a way that it will attract recognition across the world. That clinical trial stage is what is going on now," she said. Adeyeye also spoke of the Central Bank of Nigeria assisted initiative known as the Research and Development Intervention Scheme which provides funds to assist local production of medicine. “It cost a lot of money, that is why the CBN is helping to put some money into this intervention scheme for those who are successful during the grant review process,” she added.

FG Trains 40,739 Health Workers for Second Phase of Vaccine Roll Out

Meanwhile, the federal government said it has concluded the training of about 40,739 health workers across the country for the phase two strategic vaccine roll out. Nigeria had received 4,000,080 doses of Moderna COVID-19 vaccine donated by the government of the United States, last Sunday, and has scheduled the commencement of the second phase of vaccination for August 16. While addressing journalists yesterday in Abuja, the Executive Director of the National Primary Healthcare Development Agency (NPHCDA), Dr. Faisal Shuaib, said the country would be receiving 176,000 doses of Johnson & Johnson vaccines today. He said: "These 176,000 doses as you are aware, are coming out of the 29,850,000 doses that the federal government procured from the AfreximBank through the African Union." Speaking on preparations for the take-off of the second phase of the COVID19 vaccination campaign, Shuaib said the agency was training 40,739 health workers across the country. "We are currently wrapping up the training of about 40,739 health workers across the national, state and ward levels on our phase two strategic vaccine roll out plan with focus on improving the delivery, communication, data management, management of the vaccines and

logistics that are needed. "A total of 3,363 teams will be used; 2,690 teams manning the fixed post and 673 manning temporary fixed post which will go from settlement to settlement especially around areas where people will congregate. For example, the houses of the traditional leaders, the markets and motor parks," he said. On the criteria for administering the Modena vaccine, Shuaib said any person who is 18 years and above would be eligible to receive it or any other brand of COVID-19 vaccine available. However, he said it was pertinent to state that mixing one brand of vaccine with another brand in first and second dose is not allowed. "Those who have received AstraZeneca as first dose should receive AstraZeneca as second dose, while those who will receive Moderna as first dose will receive Moderna as second dose when due. In a few days, we will take delivery of additional AstraZeneca vaccine and those who are due for second dose of the vaccine will be prioritised," he said. He added, "Moderna is two doses, four weeks apart; Oxford AstraZeneca is two doses with six to 12 weeks apart; and Pfizer is two doses, three weeks apart.” He however added that brands such as Johnson and Johnson would require a single dose for full protection against the virus. According to Shuaib, the initial doses of Johnson and Johnson would be focused on those who are in the hard-to-reach areas (riverine areas, desert areas) and the elderly because they are people who may find it difficult to leave their homes to the health facility for a second dose. Shuaib assured Nigerians of the high quality COVID-19 vaccines, regardless of brand. "As long as they have been approved by NAFDAC, they provide adequate protection against the disease. We want to further assure Nigerians that we have strategised with our partners so that there is no confusion on which vaccines will be given to whom. "For example, all those who have taken their first dose of AstraZeneca vaccines and are due for their second dose would be given theirs this August as we are expecting up to 588,800 doses of the AstraZeneca vaccine from the COVAX facility. "This is the first batch that will be coming in the next couple of days. Thereafter, we will be expecting up to 3.9 million doses of the AstraZeneca vaccines to complement what we already have and to make sure we cover not only those who will be taking their second AstraZeneca vaccine, but also for those who will want to take their first dose of this vaccine," he said. Shuaib explained that the reason government had to postpone the launch date of the vaccine was because it wants NPHCDA in conjunction with NAFDAC to trace all the way to health facility where the vaccines would be administered. World Health Organisation’s (WHO), Country Representative, Dr. Walter Kazadi Mulombo, said the world body would continue to support government to implement measures that would maximise the impact of the second phase of COVID-19 vaccination, including simplifying the roll out at local levels as well as minimising wastage.

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A’Court Judgment: APGA Praises Judiciary for Upholding Justice Move to oust Soludo as APGA candidate a distraction, says Umeh Onyebuchi Ezigbo in Abuja and David-Chyddy Eleke in Awka The All Progressive Grand Alliance (APGA) has praised the judiciary for standing firm in defence of the country's constitution and it's statutes over its judgment on the party’s leadership crisis, which affected its choice candidate in the governorship election slated for November this year. Reacting to the unanimous judgment delivered by the three Justices of the Appeal Court, Kano Judicial Division on Tuesday, the National Chairman of the party, Victor Oye, through the National Publicity Secretary of the party, Mr. Tex Okechukwu, described the judgment as a watershed in Nigeria's political life. Also, a former national chairman of the party, Senator Victor Umeh, has said the legal battle waged against the candidacy of Prof. Chukwuma Soludo, was only meant to derail his campaign.

However, speaking on the appellate court judgment, Oye praised the Justices that sat over the case for their courage, uprightness and commitment to the promotion of justice, equity and fairness. According to him, the judgment had renewed the hope of the people of the country in the judiciary and appealed to the National Judicial Council (NJC) and the Disciplinary Committee of the Nigerian Bar Association to ensure that any judge or lawyer found guilty of professional misconduct should be brought to justice. He used the opportunity to call on the Independent National Electoral Commission (INEC) to do the needful without further delay by publishing the name of Prof. Chukwuma Charles Soludo as the rightful candidate of APGA for the November 6 Anambra State governorship election. While congratulating millions of APGA supporters across the country, especially, those in

Anambra, Oye thanked them for their steadfastness and support. He also "thanked the members of the National Working Committee (NWC), NEC and the BOT of APGA for their individual and collective role in stabilising the party while the distraction lasted, and appealed to them not to relent". The APGA national chairman urged all those still feuding with the party to embrace common sense and peace and return to the fold, so that, "together, we will win the forthcoming governorship election as one united family." The Court of Appeal Kano had dismissed the judgment of the Jigawa Hgh Court on the leadership tussle in APGA, saying it has no territorial or substantive jurisdiction to hear the suit. According to APGA, the Appeal Court also took judicial notice of the High Court of Awka affirming Oye as national

chairman of APGA. "It affirmed that any suit in any court in Nigeria without Oye being a party as the incumbent National Chairman is a nullity.” In setting aside the judgment of the Jigawa High Court, the Appeal Court said that all the proceedings at lower court was a nullity. The party concluded that the appellate court described the appeal by Mr. Jude Okeke and Garba Aliyu as worthless, undeserving of precious judicial time and accordingly, struck it out. "The Appeal Court further warned lawyers and Judges against desecrating the temple of Justice, adding that lawyers and judges should be guided by the oaths they have taken as officers in the temple of Justice," it said. APGA therefore described the Appeal Court ruling as, "A judgment against forum shopping, a judgment against

impostors trying to pervert the course of justice and a judgment against judicial officers desecrating the temple of Justice," adding that, it was a judgment for justice and truth. Meanwhile, Umeh, a member of the Soludo campaign organisation spoke to journalists in reaction to the judgment and said it was without flaws, and that all along the party had never wavered about the authenticity of Oye's leadership of the party. "We were convinced that the High Court judgment of Birnin Kudu in Jigawa State should have been a nullity, but some people including the INEC used it to torment us. "Not only has the judiciary redeemed itself, it has also shown that it is the hope of the people. Nothing in that judgment (Jigawa State) should be allowed to be alive. The judges of the Court of Appeal were thorough and there was no flaw in it. "With this judgment, we have

now rebounded. Previously, we had said Soludo will contest and it has come to pass. He is our candidate and the person that the party nominated. As the chairman of peace and reconciliation committee in our party, I want to call on Umeoji to come over to the party. "We supported him when it was necessary to support him, but now the party has resolved that another person should be the candidate, and we are calling on him to come back. We are not seeing him as being defeated, rather, we are calling on him not to strain himself further by going to the Supreme Court. "We saw the judgment coming, and it was based on sound principles of law. The attempt was simply to derail the momentum of APGA, but the judiciary has intervened. Let's not lend credence to non existing problems. Oye leadership has been in place all the time, and will always be."

Dangote, only Nigerian on Bloomberg’s Top Billionaires’ List …Fortune increases to $17.8bn Goddy Egene Africa’s richest man, Aliko Dangote, has significantly moved up in the World billionaires’ list as his fortune increased to $17.8 billion as against last year’s $14.8 billion to emerge as the only Nigerian in the Bloomberg’s yearly top billionaire lists. Other Africans on the lists are three South Africans. They are Johann Rupert and family, worth $10.1 billion; Nicky Oppenheimer with a worth of $7.80 billion and Natie Kirsh who is reputed to worth $7.15 billion. Nassef Sawiris from Egypt is also among African billionaires with a worth of $6.93 billion. The Bloomberg Billionaires Index is a daily ranking of the world's richest people. In calculating net worth, Bloomberg News strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person's fortune is tallied. The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York. Stakes in publicly traded companies are valued using the share's most recent closing price. Valuations are converted to U.S. dollars at current exchange rates. Dangote, who remains the richest man in Africa for the 8th year running, was the only Nigerian on the list of the top 120 billionaires, as released on Monday by Bloomberg in its yearly billionaires list. Ellon Musk and Jeff Bezos are the richest in the world with $194 billion in their respective kitty while Bernard Arnault and Bill Gates followed respectively with $174 billion and $148 billion. Mark Zuckerberg was the fifth richest with $135 billion on the world’s billionaires’ chart.

Bloomberg is a global information and technology company, that connect decision makers to a dynamic network of data, people and ideas – “accurately delivering business and financial information, news and insights to customers around the world” Bloomberg L.P. provides financial software tools such as an analytics and equity trading platform, data services, and news to financial companies and organisations. Dangote with his improved worth of $17.8 billion, controls Dangote Industries, a closelyheld conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa's biggest cement producer, Dangote Cement. It also has interests in sugar, salt, fertiliser and packaged foods. Aliko Dangote, was also recently named as the sixth most charitable man in the World by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom. This recognition came after he endowed his foundation, the Aliko Dangote Foundation (ADF) to the tune of $1.25 billion. Aliko Dangote started his Foundation in 1981, with a mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities. Aliko Dangote Foundation was, however, incorporated in 1994 as a charity in Lagos, Nigeria. Twenty years later, the Foundation has become the largest private Foundation in sub–Saharan Africa, with the largest endowment by a single African donor. The primary focus of Aliko Dangote Foundation is health and nutrition, supported by wrap-around interventions in education, empowerment, and humanitarian relief.

NATIONAL DIALOGUE ON COVID-19… L-R: Director, Human Resources, Ministry of Finance, Anita Shittu; Director, Economic Research and Policy, and Minister of Finance, Zainab PHOTO: ENOCK REUBEN Ahmed during the National Dialogue on COVID-19 economic impact on national policy in Abuja...yesterday

Security Team of Forensic Auditors Submits NDDC Report Nseobong Okon-Ekong in Lagos and Ndubuisi Francis in Abuja The security team of the forensic auditors scrutinising the activities of the Niger Delta Development Commission (NDDC) between 2001 and 2020 has submitted its report to the Minister of Niger Delta Affairs, Senator Godswill Akpabio. The leader of the 389-member security team, Rear Admiral Bamidele Oluwagbamila, submitted the report to the minister in his office in Abuja, Monday, even as the main audit report was still being awaited. Amid mounting pressure by stakeholders, Akpabio had on June 23 assured the Nigerian people that the main audit report of the about 12,000 projects across the nine NDDC catchment areas would be ready at the end of July for onward submission to President Muhammadu Buhari. While submitting the report, Oluwagbamila remarked that the security team, formed about a year ago comprised personnel of the Nigerian Navy, Army, Nigeria

Police Force, Department of State Services (DSS), and Nigeria Security and Civil Defence Corps (NSCDC), and was put up to provide security for the auditors as they carried out the forensic audit of the NDDC. He disclosed that the team worked with the auditors and provided the right environment, adequate security at the hotels and the various project sites, which enabled a successful execution of the job. According to him, “We enjoyed the support of the ministry. We were provided with all the logistics that were needed for the job and over 398 personnel of the security agencies were involved in this exercise. This is a very big plus for the minister for carrying out this audit exercise and for all the support he has given us." He claimed that, throughout the period of the exercise, the team did not lose anyone, adding that, "All the properties that were entrusted in their care, we can confidently account for them.” While expressing gratitude

for the honour and privilege to have worked in the capacity as chairman of the security team, he expressed the hope that the report would help the authorities to take appropriate decisions that would move NDDC and the Niger Delta region forward. In his remarks, the minister, who received the report from the security team, expressed satisfaction on the job done, stating that the report would definitely be a turning point for the NDDC and the development of the Niger Delta region. Akpabio reiterated the president's directive for a holistic examination and review of the operations of the NDDC, which culminated in the inauguration of forensic auditors and subsequently the security team for the auditors in order to salvage NDDC and the entire Niger Delta region. "From my own observation, l want to thank you for taking this national assignment seriously. This assignment was from the Commander-in-Chief, President Muhammadu Buhari, though

being supervised by the ministry. I want to thank you on his behalf, the security committee, for a very difficult job done well. “From all indications, it is clear that the security agency were not only committed to their assignment but also carried out their task with professionalism. As such, there were no incidences on the forensic auditors, support staff – whether in their areas of residence or in the communities (individuals or groups). "They welcomed you mostly with pomp and pageantry; they were excited to see all of you and they gave you all the cooperation. l believe that is because of the approach and tactics you used in approaching your job," he said. The minister, therefore, expressed gratitude for the timely completion of the forensic audit report, which would be submitted to the president, adding that the security team exhibited high level of discipline, candour and brilliant comportment, knowing that the exercise would not be successful without security assistance.

WEDNESDAY AUGUST 11, 2021 • T H I S D AY

WEDNESDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

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Obaseki: Nigeria Can Earn $20bn Annually from Oil Palm

The Edo State Governor, Mr. Godwin Obaseki, has reiterated the need for Nigeria to diversify its economy from crude oil, noting that the nation could earn as much as $20bn annually from the cultivation and production of oil palm. Obaseki, who spoke to journalists in Benin City, said the decline in prices of crude oil and the COVID-19 pandemic highlighted the importance and urgency to diversify the country's economy, creating an alternative source of revenue. The governor said his government was investing hugely in the agricultural sector to boost the state’s economy, tackle food insecurity and create wealth for Edo citizens. According to him, “The Nigerian oil palm economy has the capability of earning over $20 billion for our country annually just for cultivation

and production. This is why in Edo State, we have taken the bold step of increasing the production of oil palm by supporting investors through the provision of land and a peaceful, secure and business-

friendly environment to boost their investment.” He noted that to "effectively and efficiently encourage investors, the state launched the Edo State Oil Palm Programme (ESOPP) in

partnership with other private sector stakeholders including the Central Bank of Nigeria (CBN). "Under the programme, the CBN committed about N69 billion to support investors, who invested

in oil palm in Edo State, in line with the federal government’s determination to diversify the economy,” the governor said. Obaseki, however, added that the government also introduced

the Edo Agripreneur programme to increase investment in the agricultural sector to create viable economic opportunities for youth and upscale production by farmers in the state.

Fayemi: My Govt Has Attracted Over $100m Investment in 3 Years Victor Ogunje in Ado Ekiti Governor of Ekiti State, Dr. Kayode Fayemi, has disclosed that his administration had attracted over $100 million investment to the state in the last three years to buoy its Internally Generated Revenue (IGR). Fayemi said he was able to accomplish the feat through offering of waivers to investors on payment of some statutory fees and partnership with private

investment to boost the economy. The governor, who said this in Ado Ekiti, on Tuesday, during a workshop organised by the Ekiti State Development and Investment Promotion Agency for State officials on Nigerian Investment certification programme for states (NICPS) was represented by the Commissioner for Trade and Industry, Chief Muyiwa Olumilua. While noting that his government had created veritable platform to ease means of doing

businesses to drive economic development, Fayemi said, "In the last three years, we introduced some reforms to make establishment of business easier, which included granting of business premises waiver, Automation of PAYE registration, introduction of online payments for construction and setting of High Court minimum thresholds at six judgments per quarter. “All these were put in place to attract new businesses to Ekiti. In

totality, we have attracted over $100m to Ekiti since 2018. Ikun Dairy Farm alone gulped $5m, which we achieved through partnership with Promasidor Nigeria Limited and we are making similar progress in other agro based companies". The Ekiti governor said the NIPC certification programme was introduced to support investors for business promotion, job creation and economic diversification. According to him, the government has been partnering intending investors via provision of accurate information on business opportunities, allocation of buildings and sites that were investment-friendly and maintaining marketing standard that could boost their investments. Special Adviser to the Governor and Director General, Ekiti State Development and Investment Promotion Agency, Mr. Ayoola Owolabi, also said the training was conceptualised to enhance promotion of private investments in the state. Owolabi stressed that improving business environment was critical to the Fayemi government policy thrust and that accounted for the establishment of the EKDIPA

with the mandate to work with Ministries, Departments and Agencies (MDAs) for effective delivery of government's focus in investment. "This training deals majorly with knowledge that will enhance contracts and registering of businesses. Through serious investment drive, we have worked for the resuscitation of Ikun Dairy Farm in partnership with Promasidor Nigeria Limited while Ikogosi Warm Spring and Resort, Ire Burnt Brick, Ekiti House in Abuja and Lagos are at advanced stages of Public Private Partnership," he said. The Southwest Zonal Head, Nigeria Investment Promotion Commission (NIPC), Mr. Hassan Lawal, said the training showed the eagerness of the Fayemi government to develop investment for economic growth and development in the state. "Working with stakeholders is very necessary, because you can't develop business alone. Our focus is to improve the IGR of the states. We don't want them to rely alone on monthly federal allocation and this can only be achieved with investment promotion, where our youth can be more engaged and productive".

CJN Tasks Courts on Efficient Justice Delivery WORKSHOP FOR DIRECTORS… L-R: The Secretary, National Judicial Institute, Umar Abubakar Maidama, the administrator of the Institute, Hon. Jusitice Salisu Garba, and the Director of Finance and Account, Alhaji Ibrahim Gambo, during the opening ceremony of National workshop for Directors and Inspectors of area Sharia/Customary Courts in Abuja....yesterday

EFCC Quizzes Seriake Dickson over Alleged Misappropriation of Public Funds Petition against me frivolous, says former governor

Deji Elumoye and Kingsley Nwezeh in Abuja Former Governor of Bayelsa State and Senator for Bayelsa West Senatorial District, Senator Seriake Dickson, yesterday faced interrogators at the Economic and Financial Crimes Commission (EFCC). This followed an invitation by the agency over allegations bordering on abuse of office and misappropriation of public funds during his eight-year tenure as Bayelsa State chief executive between 2012 and 2020. However, Dickson dismissed the allegations against him as senseless. A team of operatives investigating the allegations grilled the former governor, who arrived the headquarters of EFCC in Jabi, Abuja, about 11am. Though details of the allegations against the governor were sketchy as at press time, a source familiar with the case disclosed that they related to "issues of assets declaration and misapplication of intervention funds and other assets belonging to the Bayelsa State government". EFCC spokesman, Wilson Uwujaren, confirmed Dickson’s invitation.

Meanwhile, Dickson, who confirmed the development, said he was invited by the agency based on a petition written against him over alleged diversion of N17.5 billion flood funds in 2012. He described the petition as frivolous, saying he had acquired family assets in various parts of the country and the United Kingdom between 1996 and 2012 before becoming governor. In a statement yesterday, the ranking senator stated that the EFCC inquiry related to investments of his family trust, "which I incorporated while being a member of the House of Representatives to hold my family assets and investments which were made between 1996 and 2012 before I became governor." He also said, "I understand that there is a petition from an NGO alleging that these investments (largely buildings, plots, farms, etc. in my village, Orua, Yenagoa, and two buy-to-let houses in the UK) were not declared. “I have a duty to clarify these issues with the investigating authorities who by law have the responsibility to inquire into these matters. "However, for the avoidance of doubts, let me state that my family

investments, Seriake Dickson Trust Incorporated, were made between 1996 and 2012 before I became governor. These investments were funded by loans and advances and repaid from salaries, allowances, savings and others. One of them is still on mortgage and I have made these documents available to the EFCC." Dickson said the aforementioned investments were declared in his assets declaration form at the House of Representatives in 2011; governorship nomination form in 2012, 2016, and 2020 after he left office, as well as the Senate Assets Declaration form this year. The senator added that he went beyond the declarations and wrote several letters to the appropriate agencies, copies of which had since been made available to the EFCC. He stated, "My trust and I subscribed to the federal government Voluntary Assets Income AND Declaration Scheme (VAIDES) and also paid the necessary taxes. As a result of blackmail from some quarters, the Trust and I went to the Federal High Court where there is a subsisting judgment declaring that no Nigerian law is breached by a public officer who takes loans

and other verifiable avenues to make investments for his family provided these are declared. "It should be on record that I have since resigned from the Trust Administration since 2011 before I became governor. My solicitors and those of the trust have written to the EFCC to clarify these issues with the accompanying documents." The lawmaker said he was presented with another allegation of diversion of flood funds to the tune ofN17.5 billion when he got to the EFCC office on Tuesday. According to him, "The investigating team came up with a new allegation of diversion of flood funds in 2012 totalling N17.5 billion. The petition further alleged that the money was used for my re-election in 2019. The fact is that there was no such donation about the 2012 flood in Bayelsa. “Curiously, there was no mention of donor or where the money came from. There was also no re-election for governorship in Bayelsa in 2019, which are clear proofs that the petition was totally frivolous. "The commission after looking into these allegations has since asked me to return home on self-recognition."

Harps on justice devoid of unnecessary technicalities Alex Enumah in Abuja The Chief Justice of Nigeria (CJN), Justice Ibrahim Tanko Muhammad, has called on courts in the country to ensure speedy and efficient delivery of justice in order to continue to sustain the hope of Nigerians by ensuring that peace and justice prevail in the society. The CJN, who gave the charge on Tuesday, while declaring open the virtual workshop for Directors and Inspectors of Area, Sharia and Customary Courts in the country, however, harped on the need for justice devoid of unnecessary technicalities. Justice Muhammad stated that since these courts heard a majority of cases at the grassroots, they were expected to be efficient and equitable in their delivery of justice, adding that the society looked up to the judiciary as the last hope of the common man. “This assertion makes it mandatory on the part of the courts to carry out their duties diligently with a view to seeing that justice prevails in our society. “Distinguished participants, it is in this light that you must be effective in your supervision and inspection of the Area/Sharia/ Customary Courts as it will go a long way in building public confidence in our courts, fight corruption, laziness and other inadequacies in the judiciary,” he said. To this end, the CJN emphasised the need for court staff to be guided by the Code of Conduct for employees in the discharge of their daily duties as well as public life.

While advising the directors and inspectors to be proactive and pay regular visits to the courts in order to observe the personnel and inspect facilities therein, he stressed that, “Your administrative and supervisory roles must and should be used to promote the purposes of ensuring substantial justice devoid of unnecessary technicalities”. Earlier, the new Administrator of the National Judicial Institute (NJI), Justice Salisu Garba, emphasised the need for the administrators and inspectors to understand their roles so as to earn public trust, promote the authority of judicial powers and foster impartiality and independence of the judiciary. His words: “To remain relevant in this ever-evolving space, where efficient justice delivery is sacrosanct to the overall existence of a harmonious society, it is pertinent that you must imbibe best practices in your supervisory roles. In line with the foregoing, I urge you all to adhere strictly to the dictates of your job schedule and prevent judges and staff of the courts from abuse of their discretionary powers”. Justice Garba, however, warned that the supervisory powers of the directors and inspectors did not extend to reopening cases that had been heard and concluded, adding that the only option to any aggrieved litigants was to go on appeal. The theme of the workshop, “Promoting Efficient Justice Delivery in the Lower Courts” was in line with the desire of the Board of Governors of the National Judicial Institute to deepen the culture of quality justice delivery at all levels.

WEDNESDAY AUGUST 11, 2021 • T H I S D AY

WEDNESDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

TEN BATTLE-FATIGUED, LEADERLESS, 1,000 B'HARAM MEMBERS SURRENDER TO GALLANT TROOPS by the Nigerian Army. The Nigerian Army Headquarters had stated that, contrary to online reports, there was no plan to free two Boko Haram commanders arrested recently. A statement by the army said all the surrendered terrorists would be received, processed and passed on to the relevant agencies of government for further assessment in line with extant provisions. The statement stated: "Our attention has been drawn to a publication by some online news medium released in which the authors deliberately misrepresented the facts contained in that report and twisted it to suit whatever purpose they seek to achieve. "While the Nigerian Army (NA) does not want to be distracted from its main focus of dealing decisively with the threats against peace loving Nigerians, it has become necessary to put issues in their right perspectives. "It is a known fact that in the recent past, over 1,000 members of Boko Haram and their families have surrendered to the troops due to the intense pressure from troops' sustained offensive actions. "Among those were key leaders of the terrorists group, who have renounced their membership and

have turned themselves in," the statement further stated. It maintained that the army, being a professional military organisation, would continue to act in accordance with the dictates of the Nigerian Constitution, as well as international best practices. "It must be known that the Nigerian Army will never encourage any act of lawlessness or extra judicial killings. Accordingly, all surrendered terrorists will be received, processed and passed on to the relevant agencies of government for further assessment in line with extant provisions," it said. The army also noted that, "The ongoing Operation Safe Corridor is an outfit established by the federal government and not the NA. As such, it is wrong to say that the NA will free repentant terrorists. "The Nigerian Army, therefore, appeals to the public to disregard the deliberate distortion of facts by these online mediums and continue to support it in order to rid the country of terrorism and other forms of insecurity.” Consequently, Yahaya admonished all terrorist groups operating in the country to abandon their illegitimate cause and surrender to troops. The army chief had, while

addressing troops in Maiduguri during the flag-off of a special welfare flight programme for personnel of the joint task force of ‘Operation Hadin Kai’ urged those yet to surrender to do so. He said those who fail to surrender would be fished out and captured. “We are getting them in droves surrendering already and we urge them to continue to surrender and lay down their arms and toe the line of peace. “The other ones in the bush should also come out and surrender so that we’ll conclude. If they fail, we will get to them. We have gotten some and will get to all who fail to surrender whether in the north-east, north-west or north-central,” he said. Army’s Spokesman, BrigadierGeneral Onyema Nwachukwu, gave details of the surrender by the insurgents in a statement. "Following the recent escalation of offensive operations coupled with non-kinetic efforts by troops of operation HADIN KAI (OPHK), which yielded massive surrendering of Boko Haram and Islamic State of West Africa Province Terrorists in the North East, the Chief Bomb Expert of the terrorist group known as Musa Adamu a.k.a Mala Musa Abuja and his second in command,

Usman Adamu a.k.a Abu Darda along with their families and followers have also finally surrendered to the troops of operation HADIN KAI in Bama Local Government Area of Borno State. “The acting General Officer Commanding (GOC) 7 Division and Commander Sector 1 OPHK Brigadier General Abdulwahab Adelokun Eyitayo was at Headquarters 21 Special Armoured Brigade Bama on Saturday, 7 August 2021, to receive the set of the surrendered Boko Haram terrorists and their families. “During the visit, the GOC said their decision to drop their arms and come out is highly commendable, adding that they should also try and talk to their brothers and colleagues in the forest to come out and embrace the new life of peace and rehabilitation," he explained. Eyitayo, who spoke through an interpreter, further disclosed that they would undergo some rehabilitation process at a government facility before reintegration into the larger society. His words: “While distributing new clothes and assorted food items, groceries and toiletries to the surrendered terrorists and their families totaling 335 fighters, 746 adult women and children includ-

ing one of the abducted Chibok girls, it was observed that the reasons for such massive turnout was basically due to the intensified Nigerian military campaign on their enclaves and environs and also with the overwhelming famine, discontent, internal skirmishes, health challenges as well as untold hardship. “The Nigerian military has resolved to intensify its both kinetic and non-kinetic approach towards the ongoing fight against insurgency in order to leverage on the knowledge of Musa Adamu and Usman Adamu and also with the current wave of turnout by terrorists to enable her achieve both short and long term counter-insurgency gains in the North East," it said. Unfortunately, the development has triggered arguments by those, who thought the insurgents should instead be punished for waging war against the state and killing thousands of innocent Nigerians. In the pictures, which had gone viral on the social media, the insurgents were surrounded with provisions and clothes while displaying placards with the inscription "Nigerians, please forgive us, Borno State remains the home of peace, forget terrorism, embrace peace," among others.

Mrs. Oluwaseun Sakaba, whose husband, Lt. Col I. Sakaba, was killed by Boko Haram in 2018, berated the army after it shared photos of repentant sect members with placards seeking forgiveness from Nigerians. Sakaba was one of the 44 soldiers killed by the insurgents during an attack on 157 Task Force Battalion in Metele, Guzamala Local Government Area of Borno State in November 2018. She, however, wrote on her Instagram page: "It will not be well with you (terrorists). I should forgive you for making me a widow. I should forgive you for making my children fatherless. I should forgive them for making many women and children widows and fatherless." A former presidential aide, Mr. Reno Omokri, also condemned the release of the photographs, saying: "The administration shared photos of so-called repentant Boko Haram terrorists and asked Nigerians to forgive them. "Does it make sense to ask Nigerians to forgive people, who have killed innocent Nigerians, when the Buhari government wants to prosecute Sunday Igboho for protecting the same innocent Nigerians?" he queried.

with a position to exclude NWC members from the election. But this was opposed by some members who pointed out the illegality of such a move. Even the gentleman understanding by the NWC members was said not to have gone down well with some members of the party, who described the decision as illegal and unconstitutional, leaving the door open for a possible challenge at a later date. Also, the National Publicity Secretary of the party, Mr. Kola Ologbondiyan, has dismissed any such thing, saying “the party wishes to clarify that no decision was taken to bar any member of the NWC from exercising his or her rights under the constitution of the PDP to contest in the forthcoming National Convention of the party,” his position has been dismissed as a volte face by other members of the party. Ologbondiyan said the explanation had become imperative given misrepresentations of the outcome of the intervention by elders and leaders of the party on the challenges faced by the PDP, adding: "While the PDP has put these challenges behind it, the NWC states that it will continue to adapt itself to the Constitution, traditions and practices of the party in carrying out its responsibilities." But despite Ologbondiyan's explanation, party leadership hierarchs, members as well its supporters, breathed a sigh of relief that some form of peace has been achieved, quelling the raging inferno that had engulfed its ranks in the last few weeks. The first meeting was learnt, comprised mainly members of the BoT, current and former governors, former ministers, former Senators and former Presiding and principal officers of the National Assembly, while the second one included the other stakeholders of the party at different levels. THISDAY further gathered that the path to the success recorded at yesterday’s meetings had been prepared since Monday, August 9, 2021, when during the meeting of the governors, Secondus and his estranged ally, Governor Nyesom Wike of Rivers State, believed to be responsible for his plight, were brought together to confront each other and disclose to the sitting what the exact problem was. This is in addition to the fact that THISDAY had exclusively reported yesterday that the party was planning to bring forward its national convention as part of the new deals, preceding the search for a lasting peace, going forward. After both men had allegedly addressed the gathering, especially,

that they also saw the need to sheathe their swords in the interest and future of the party, more so with Wike allegedly consenting to the fact that reconciliation was imperative since Secondus would eventually retire to the state, they were both asked to agree to abide by whatever would be arrived at after yesterday’s meeting and they did. Thus, at the joint meeting of the PDP stakeholders, yesterday, convened by the BoT, the party not only succeeded in resolving its leadership crisis, Secondus also survived the plot to remove him from office, even though he had to sacrifice the collective re-election bid (if there was any) of the NWC members. To that extent, the governors, BoT members and other stakeholders of the party immediately approved the suggestion to bring forward the date for the party’s national convention, while at the same time, proposed a National Executive Committee (NEC) meeting for some time next week, where other pending issues could he addressed. Secondus is expected to summon NEC for next week to allow the PDP discuss her zoning plans and set up a committee to that effect as well as constitute another committee for the convention, which has been slated tentatively to hold by the end of October. Chairman of the PDP Governors Forum, Governor Aminu Waziri Tambuwal of Sokoto State, while explaining why the party had to come round its internal challenge, dismissed speculations that more PDP governors might still defect to the All Progressives Congress (APC), saying there was neither a party nor government to go to. Speaking to newsmen, after the crisis had been resolved, Tambuwal, surrounded by Wike, Secondus and other governors, said the party had no other option but to resolve the crisis because of what was ahead of it. His words: "As party members of the BoT, members of the governor forum, members of former governors forum, former ministers, former Senators, former Presiding officer of the National Assembly and various stakeholders, we are very happy to announce that we have discussed all matters and we have resolved to continue to work as a united family. "This meeting has agreed that immediately, the NEC should be convened for the party to constitute the National Convention planning committee and the National Convention should be held latest by the end of October. Also, the zoning committee for the party

should also be constituted by the same NEC immediately. "So, we thank members of the National Committee for holding up. We thank them for their prayers and support. We also thank well-meaning Nigerians, who have been waiting patiently for the resolution of these issues. "The NEC of the party shall meet most likely next week and all the issues will be addressed. And that NEC will be convened by the chairman of the party, who is constitutionally empowered to do so." Tambuwal stated. Explaining why stakeholders unanimously resolved to ensure unity in the party, the Sokoto governor said, "You can see clearly that 13 governors of our party, who are our ambassadors are in this meeting, fully committed to not only resolving the issues at hand, but also working assiduously towards delivering good governance in our respective states and moving our party forward. "Speaking on behalf of my colleagues, we have resolved; we are committed to remaining in PDP. Disregard any rumour, every rumour that any of these distinguished leaders are going anywhere. We are in PDP; we are going to remain in PDP and by the grace of God, we shall be working together to salvage Nigeria. "If you say you're going somewhere, where will you go? APC is no party. They do not have a ward structures as we speak. They do not have a local government structure as we speak. They do not have a state structure as we speak. They do not have national structure as we speak. "APC has never had, and is not having a Board of Trustees. So, where are you going? Are you defecting to federal government? Federal government is not there, because if it is there, asked my colleagues, who are in APC. One of them came out to say that when his students were abducted, that he saw no help. "He received no help from the federal government, and he is a governor of APC. So, what are we talking about? There is no party to defect to; there is no government to defect. We better remain together and work together, reinvent our party, and work towards the establishment of government of the Federal Republic of Nigeria,", chairman, PDP governors said. In yet another statement on how the crisis was resolved, Tambuwal said that There were extensive consultations with all major stakeholders in the party with a view to bringing all tendencies within together in view of the

urgent task facing the PDP as the only viable vehicle to checkmate the abysmally poor governance of the APC-led federal government. "The meeting deliberated extensively on the issues thrown up and resolved as follows: That the Constitution, traditions and practices of the party should be strictly adhered to in finding solutions to any problems. "That all parties should sheath their sword in the greater interest of the PDP and the need to rescue Nigeria from the avoidable National malaise and drift occasioned by the APC administration. "That all processes leading to an early National Convention in October be immediately activated by relevant party organs, especially, National Executive Committee (NEC). "That the party should redouble efforts to provide a credible alternative leadership for Nigeria as it still remains the only hope for the Nigerian people for good governance. "The meeting requested the NEC to immediately constitute a Zoning Committee for Party Offices and another Committee for National elective Offices. The meeting expressed appreciation to party elders for their commitment and wisdom in handling Party affairs. We shall overcome and restore peace, security and development once again to Nigeria,", he stated. In his opening address, Chairman, PDP’s BoT, Senator Walid Jubrin said the expanded meeting of the stakeholders was called to find solutions to the problems affecting the party. Noting that it was the reason all the 13 governors and deputy governor of Zamfara State were in attendance, he however told the gathering that a former vice president of the country, Alhaji Atiku Abubakar sent his apologies. Secondus, while briefing the meeting, said the PDP, which belonged to all had reinventeditself and as such, nothing would be difficult in the current challenge to resolve. It was gathered that Secondus allegedly told the meeting that the October date for the national convention might not be possible as the party has other activities lined up in October. Competent sources close to the Chairman, believe November would be a more realistic preposition. He was alleged to have been overruled but that the NEC should be allowed to decide since it is the final decision-making organ on all party matters.

APC, PDP LEADERSHIP CRISES RESOLVED The APC governors, in a communique issued yesterday and signed by its chairman and Kebbi State Governor, Atiku Bagudu, following a meeting on Sunday, in Abuja, said after further reviewing the situation, they were convinced that their decision was well informed. But a group of party members under the banner of Concerned APC Stakeholders, hasalleged that the caretaker committee of the party and some second term governors were bent on making sure the Peoples Democratic Party (PDP) regained power in 2023. The Forum said it further reviewed progress being made by the APC Caretaker and Extraordinary Convention Planning Committee in its effort to rebuild structures of the party at all levels and commended members of the committee led by Buni for the successful conduct of the ward congresses across the country. "Accordingly, Forum reaffirmed its support for the Caretaker Committee to proceed to conduct local government, state congresses and national convention, in line with the mandate of the National Executive Committee. "Forum was further briefed on the July 28, 2021, judgement of the Supreme Court on Ondo State 2020 Governorship election and recognised that the legal status of both the APC Caretaker and Extraordinary Convention Planning Committee as well as its composition has been legally settled." Having reviewed progress in the party, the Forum commended all party members for theircommitment towards rebuilding the party, adding that, it noted with satisfaction reports from various states of commendable mobilisation and participation in the July 31st, 2021 ward congresses, which was successful. On the ongoing strike by the National Association of Resident Doctors (NARD), the Forum stressed that grievances of the Resident Doctors were with state governments, and therefore appealed to them to negotiate with individual state governments and issues affecting them. The Forum endorsed the initiative of the Nigeria Governors Forum (NGF) and supported the call by the federal government through the Minister of Labour, Dr. Chris Ngige for the immediate suspension of the strike to allow negotiations to continue. "Noting that most of the grievances of the Resident Doctors are with State governments, Forum appealed to the Resident Doctors to negotiate with individual state governments and issues affecting

Resident Doctors in federal establishments should be negotiated with the relevant structures of the federal government," he said. Meanwhile, Concerned APC Stakeholders, have insisted that the recent Supreme Court pronouncement on the Ondo governorship election, which suggested that the Buni-led committee was not constitutional and as such could not organise valid congresses, signalled judicial problems that could cost the APC in future elections. The group, in a statement issued Tuesday by its spokesperson, Mr. Abdulahi Dauda, insisted that the caretaker committee remained illegal going by the apex court pronouncement. In the group’s statement signed by its spokesperson, Abdulahi Dauda, the group insisted that only a duly constituted National Executive Committee (NEC) could validly hold congresses or nominate candidates and not the Buni-led Caretaker committee. "Buni is the governor of Yobe State but doubles as APC caretaker chairman, a development,which is at the heart of the current crisis in the party," said the group, which noted that the caretaker committee was unknown to the party’s constitution and that it was operating without reference to the party’s constitution It added: "For the love of our great party, we asked that the leaders of our party and those,who genuinely love our party to rise up now and stop Buni and his second term governors that have spent 8yrs and have nothing to lose if the courts hand victory to PDP in 2023 through court pronouncement." The group was of the view that there was need for the caretaker committee to stop running the affairs of the party, as all their activities were not recognised in the APC constitution and therefore, illegal. "If not controlled or expeditiously managed, the caretaker committee may end up becoming a disgrace and will spell doom for the party. that is why we are here to raise our voices as we don't want the party we laboured for to go into extinction like it happened in Rivers, Bayelsa and Zamfara," it said. In the PDP, sources told THISDAY that the decision by the Secondus NWC to jettison re-election at the national convention, which has just been brought forward to a new date, was a gentleman understanding out of their freewill, seeing too that they had to shift grounds in collective interest, and in a no victor, no vanquished resolution. The governors, THISDAY learnt had earlier come into the meeting

Continued Online

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COMMENT

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

IBRAHIM BABANGIDA’S CROSS AT 80

Eric Teniola writes that there were some decisions taken by the Babangida’s administration that are still hurting

eneral Ibrahim Badamosi Babangida (rtd.) will be 80 on Wednesday August 17. He is the second longest military ruler in Nigeria, the first being General Yakubu Gowon (rtd.) who ruled Nigeria from 1 August 1966 to 29 July 1975. General Babangida ruled Nigeria from 27 August 1985 to 26 August 1993. His classmates at Government College Bida were General Abdusalami Abubakar (rtd.) General Mohammed Mamman Magoro, Major General Mamman Jiya Vatsa, Major General Muhammed Gado Nasko, Major General Garba Duba, Mr. Paul Babale, Aliyu Makama, Ibrahim Sanda, Abulmaliki Ndayako, Mohammed Bello Ndayako, Abdulrahim Dangana and Alhaji Alhassan Bisallat. Till today historians are still debating his role in the project called Nigeria. One cannot be neutral when discussing General Babangida, you either like him passionately or dislike him passionately. At the time General Babangida seized power, one fifth, if not one-third of Nigerians of today were not born. Maybe a chronology of what he did may help define the man to the present generation of Nigerians. He made major decisions that he will carry to his grave. In July 1986, he introduced the Structural Adjustment Programme (SAP) and on September 29, 1986, the second-tier foreign exchange market took off. He moved the seat of government from Lagos to Abuja on December 12, 1991. He completed and commissioned the Third Mainland Bridge in Lagos on August 17, 1991 which was then the longest bridge in Africa. On March 15, 1988, he launched the new population policy of one woman four children to check the problem of over population in the country. On September 9, 1987, he created Akwa-Ibom and Katsina States. On August 27, 1991, he created Abia, Anambra, Delta, Jigawa, Kebbi, Kogi, Osun, Yobe and Taraba States. He then created 47 new local governments on that day. On September 23 1991, he created additional 89 local governments. On December 14, 1991, governorship elections were held, the National Republican Convention won 16 while SDP won 14. On January 2, 1992, the democratically elected governors were sworn-in and their deputies. They were Dr. Ogbonnaya Onu and Clement Nwankwo(Abia), Alhaji Sale Michika and Mr. Lynn Nathan(Adamawa), Dr. Chukwuemeka Ezeife and Dr. Chidi Mwike(Anambra), Alhaji Dahiru Mohammed and Alhaji Umaru Ahmed(Bauchi), Reverend Father Moses Adasu and Yakubu Agda(Benue), Alhaji Maiji Lawan and Alhaji Hassan(Borno), Clement Ebri and Cecilia Ekpeyong (Cross River), Felix Ibru and Samson Ebonka (Delta), John Odigie-Oyegun gun and Reverend Peter Obada(Edo), Okwesilieze Nwodo and Dr. Icha Ituma (Enugu), Evans Enwerem and Dr. Douglas Acholonu(Imo), Alhaji A.S. Biminkudi and Alhaji Shehu Kwafalo (Jigawa), Alhaji Muhammed Lere and James Mugaji (Kaduna), Alhaji Kabiru Gaya and Alhaji Ahmed Usman(Kano), Alhaji Saidu Barda and Alhaji Abdullahi Amidu (Katsina), Alhaji Shaaba Lafiaji and Prince Ojo Fadumila (Kwara), Alhaji Abubakar Musa and Alhaji Aliyu Mohammed(Kebbi), Alhaji Abubakar Audu and S. Ola Akande (Kogi), Chief Michael Otedola and Alhaji Sinatu Ojikutu (Lagos) and others. On July 4, 1992, elections were held into the two houses of the National Assembly. The NRC won 37 senate seats and 275 seats in the House of Representatives while SDP won 52 senate seats and 314 seats in the House of Representatives. On June 23, 1993, General Babangida annulled the Presidential election held on June 12, 1993. It was the last act that turned out to be tragic, both for General Babangida and the country. The annulment is

ON 23 JUNE,1993, GENERAL BABANGIDA ANNULLED THE PRESIDENTIAL ELECTION HELD ON JUNE 12, 1993. THE ANNULMENT IS A CROSS HE STILL CARRIES TODAY. HE PAID FOR THAT ACT BY ‘STEPPING ASIDE’ ON 26 AUGUST 1993

a cross he still carries today. He paid for that act by “stepping aside” on 26 August 1993. Too many scholars, writers and commentators have implied that Nigeria’s problems worsened by the annulment. The old hostile exaggeration still persists till today. Hostile exaggeration can make true perspective much difficult for the living. But then, there are those who beseeched and supplicated and still pleading till today that as a forgiving country we should forego that cardinal sin committed by General Babangida 28 years ago. They insisted and still insist that to judge a man by just one act in his eight-year tenure is harsh and unfair. Some are still arguing that the annulment is not worse than the insecurity and splits in our social, tribal and religious fabrics of today where inadequacies and inequalities have become paramount in our nation life. Fifty three ministers served under General Ibrahim Babangida during his tenure. They were Alhaji Ibrahim Zakaw, Professor Tam David-West, Major-General Jiya Vatsa, Brigadier Jeremiah Timbut Useni, Alhaji Abubakar Umar, Lt-Colonel Anthony Ukpo, Senas Ukpanah, Air Vice- Marshal Ishaya Aboi Shekari, Professor Sam Oyovbaire, Dr. Tunji Olagunju, Air Vice-Marshal Anthony Okpere, Dr. Chu Okongwu, Major-General Ike Omar Sanda Nwachukwu, Major-General Muhammadu Gado Nasko, Dr. Shetima Mustapha, Alhaji Bunu Sheriff Musa, Prince Tony Momoh, Alhaji Ismaila Mamman, Major-General Abdullahi Bagudu Mamman, Alhaji Lawal Mala, Brigadier David Bonavontoure Mark, Alhaji Rilwanu Lukman, Air Commodore Adebayo Hammed Lawal, Professor Olikoye Ransome-Kuti, Major-General Yohanna Yerima Kure, Rear Admiral Koshoni, Major-General Mamman Tsofo Kontagora, Dr. Kalu Idika Kalu, and others. Some of the decrees he promulgated during his tenure are Directorate of Food, Roads and Rural infrastructure, Decree 4, (1988) Medical and Dental Practitioners Decree 23, Securities and Exchange Commission Decree 29, National Primary Education Commission Decree 31, Federal Road Safety Corps, Decree 45, The Nigerian Educational Research and Development Council Decree 53, National Economic Reconstruction Fund, Decree 2, Counterfeit and Fake Drugs (Miscellaneous Provisions, Decree 17, National Population Commission, Decree 23, National Directorate of Employment, Decree 24; National Drug Law Enforcement Agency (NDLEA) Decree 48, Agriculture and Agro-Allied-Directorate of Food, Roads and Rural Infrastructures Decree 4, 1987; National Centre for Agricultural Mechanisation Decree 35,1992, Federal Universities of Agriculture, Decree 48, 1992, National Agricultural Seeds, Decree 72, 1992, Fertiliser Control, Decree 90, 1992, National Agricultural Land Development Authority, Decree 92, 1992, National Primary Education Commission, etc. Decree 31, 1988, Nigerian Educational Research and Development Council Decree 53, 1988, Advertising Practitioners (Registration etc.) Decree 55, 1988, National Commission for Nomadic Education, Decree, 1989, National Commission for Mass Literacy, Adult and Non-formal Education Decree 17,1990, Federal School of Surveying Decree 19, 1990, Nigerian Civil Aviation Training Centre (Change of Name) Decree 42, 1990, School Year (Variation) Decree 27, 1991, National Agency for Science and Engineering Infrastructure, Decree 33, 1992, Federal Universities of Agriculture, Decree 48, 1992, Medical and Dental Practitioners Decree 23, 1988, Counterfeit and Fake Drugs (Miscellaneous Provisions Decree 17, 1989, National Drug Law Enforcement Agency Decree 48, 1989, and others.

BUHARI AND THE EDUCATION SUMMIT Buhari is right: education is central to the individual’s attainments, writes Sonnie Ekwowusi

peaking at the Global Education Summit in London recently, President Buhari stated that no person can succeed outside his educational qualification. “You can’t succeed outside your educational qualification. Anybody who missed education has missed everything. Nigerians are acutely aware of the priority of education, and parents are making sacrifices to ensure that their children and wards get educated,” he declared. Justice is something profoundly personal. A guilty person might escape human justice: he might take flight from his guilt through ingenious rationalization, but what he cannot escape from is the ultimate justice in the recesses of his conscience. In Fyodor Mikhailovich Dostoyevsky’s Crime and Punishment, Raskolnikov tried to erase his crime from his heart by ingenious rationalization, but upon discovering the inescapable basis for ultimate justice in his heart, he travelled to Siberia and served an eight-year prison term in order to at least appease his conscience. President Buhari is not succeeding outside his educational qualification: he is succeeding within his educational qualification. He acquired his West Africa Examination Council certificate. He is a graduate of Cambridge. So says the 9/11 Tribunal judgment. So has the Supreme Court, Nigeria’s apex court, affirmed. If the tribunal and Nigeria’s apex court have ruled that President Buhari has a certificate, who are you to question whether or not President Buhari has a certificate? Pursuant to the

combined effects of sections 131(d) and 318 (1)(a-d) of the 1999 Constitution a person shall be qualified for election to the office of a President of Nigeria if he possess a school certificate or a secondary school certificate or its equivalent or even a primary school certificate or Grade 11 Teacher’s certificate. Note that sections 131(d) and 318(a-d) viva voce stipulate that the candidate seeking election as president must provide the certificates issued to him by the relevant authorities in his educational pursuit. President Buhari has satisfied the aforesaid constitutional requirement. President Buhari has brought his education to bear on governance. That’s why he said last week that “anybody who missed education has missed everything”. Mr. President came to power on the mantra of eliminating corruption in Nigeria under the ideological catch-phrase “war against corruption”. This phrase is impregnated with meaning. Only highly philosophical minds can understand the phrase. In fact, the phrase reminds us about the political ideologies of Zik and Awo, “War against corruption”. This is Buhari’s brain-child. Today Nigeria is free from corruption. All politicians and others who stole government money are being sent to jail. You cannot find corrupt people in the ruling party, APC. This is why any politician who decamps from his party and joins the APC will no longer be accused of corruption. So, no corrupt people in APC. The only political party where you can find corrupt people is the PDP, and, government is sparing no

effort in sending all those corrupt PDP people to jail. Those who accuse President Buhari of corruption are missing education. President Buhari is being accused of nepotism. His critics say that despite stating in his inaugural speech, “I belong to everybody and I belong to nobody,” President Buhari has ended up becoming a president only for the Fulanis. It is obvious that Buhari’s critics do not understand the complex English language spoken by Buhari. I want to advise Buhari’s critics to go back and reread what he said during his inauguration. Mr. President did not say that he did not belong to the Fulanis or any other tribe: he said that he did not belong to anybody. And truly President Buhari has shown that he does not belong to anybody. For example, Asiwaju Bola Tinubu used to believe that Buhari belonged to him until Mr. President said viva voce in June 2021, “You cannot sit there in Lagos, for instance, and decide on the fate of APC on zoning”. So, you can see that Buhari is a master of the English language. You can see how in one simple sentence he destroyed Asiwaju’s vaulting political ambition to become the President of Nigeria in 2023. “Political appointments in Nigeria under the Buhari administration do not reflect the Federal Character. The appointments are lopsided. They are skewed in favour of Buhari’s friends, cronies and country people”. In response, Buhari says “the constituents that gave me 97% [of the vote] cannot in all honesty be treated on some issues

with constituencies that gave me 5%.”. The import of this is that constituents which did not vote for Buhari or sparingly voted for him during the last Presidential election should be punished or denied what ordinarily in justice should accrue to them for rejecting Buhari at the last polls. Very few Igbos voted for Buhari during the last presidential election. So, why should Igbos be expecting to be treated well with the rest of the country who voted for Buhari? Mr. President is right because he did not miss education neither did education miss him. For the umpteenth time President Buhari has told Southern state governors banning cattle grazing routes to come to him for proper education on cattle grazing rights. They should listen to the president because he is angry with them. Many of them were either not born or were babies during the First Republic when cattle rearing was practiced in Nigeria. These Southern governors did not consult Mr. President before banning cattle grazing. Therefore Mr. President has ordered the Federal Attorney General and Minister for Justice to recover all confiscated cattle grazing routes in Nigeria and make them accessible to the Fulani herders. Educating us on the general insecurity in Nigeria, Mr. President has told us to stop worrying because his government is on top of the bad situation. So why worry when you can rely on President Buhari? I hope you are now convinced that “anybody who missed education has missed everything.”

T H I S D AY • WEDNESDAY, AUGUST 11, 2021

EDITORIAL

CBN AND THE FALLING NAIRA VALUE The banks must be closely monitored to ensure they abide by the rules

he value of Naira has continued to dwindle against the dollar and other world currencies, particularly since the beginning of the year. For a country that boasts the largest economy in Africa, it beggars belief that it has one of the weakest currencies on the continent. Currently, the naira exchanges for over N500 to one United States dollar at the parallel market. There are fears that it might depreciate further, and put manufacturers and others who need forex for business transactions in a more difficult situation. Consequently, prices of goods and services are hitting the rooftops. A weak naira potentially worsens the inflationary pressure given the import-dependent nature of the economy. This is also capable of adversely affecting output and rolling back efforts at economic recovery. Today, virtually every sector of the economy is blaming the exchange rate for skyrocketing prices. The aviation sector is a prime example. Not too long ago, the TO MAKE THE STOPPAGE federal government OF FOREX SUPPLIES TO announced waiver of Value Added Tax BDCS COUNT, THE CBN (VAT) on airline MUST UP ITS ANTE IN MONITORING, AND BARE tickets as a means of reducing air fares. ITS FANGS WHEN THERE But the operators ARE BREACHES have continued to insist that the major cause of exorbitant fares is the exchange rate. The impact of the high exchange rate has been most felt in the oil and gas sector, with prices of imported petroleum products and that of essential raw materials needed for production by firms going up. Meanwhile, the worsening exchange rate has exacerbated the fuel subsidy challenge facing the country. Many have argued that the solution to the depreciating exchange rate is not to float the naira as has been canvassed in some quarters, including the International Monetary Fund (IMF). Analysts believe doing so will have the effect of further weakening

Letters to the Editor

the naira, especially in the short term.

T H I S DAY EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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 SHAKA MOMODU, PETER IWEGBU, ANTHONY OGED ENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

t is against the foregoing background that the CBN recently discontinued foreign exchange (FX) sale to Bureaux De Change (BDC) operators in the country. The BDCs, according to the apex bank, had defeated their purpose of existence to provide forex to retail users, but had instead become wholesale and illegal dealers. “They have turned themselves away from their objectives. They are now agents that facilitate graft and corruption in the country. We cannot continue with the bad practices that are happening at the BDC market,” said CBN Governor, Godwin Emefiele. “Several international organisations, embassies patronise BDC through illegal forex dealers to fund their institutions. We will deal ruthlessly with Nigerian banks that deal with illegal BDCs and we will report foreign organisations patronising them.” Faced with rapid depletion of our external reserves and a possible balance of payments problem, the capacity of the CBN to defend the value of the naira is being increasingly constrained. So, the justifications by the CBN are very difficult to fault in the circumstance in which we have found ourselves today. By severing FX supplies to the BDC, the CBN has fully shifted their role to the commercial banks that are now mandated to provide forex for the legitimate use of Nigerian end users. However, we hasten to add that the CBN should go beyond this threat and activate effective mechanisms to monitor and rein in deviant banks that might resort to their old ways of doing business. We are very much familiar with the predilection to round-tripping among some banks. To make the stoppage of forex supplies to BDCs count, the CBN must up its ante in monitoring, and bare its fangs when there are breaches. As we enter the summer when the demand for FX is usually on the increase, Nigerians with genuine demand for forex must not be denied or subjected to harrowing experiences by the banks. There must be enough supplies to the banks to meet demands.

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.

APC, PDP AND JEGA’S THIRD FORCE

he former chairman of Independent National Electoral Commission (INEC), Professor Attahiru Jega stirred the hornet’s nest with his statement on why Nigerians should reject both the APC and PDP in 2023 elections. Jega stated that the two parties have ruined the country in the last 20 years. He described them as Siamese twins and that under them, the country nosedived into anarchy with insecurity and poverty becoming the order of the day. The question begging for answer remains: Is Professor Jega who conducted the 2015 election which ushered in the Buhari administration the first person to call for their substitution? Certainly not. Ahead of 2019 general election former President Olusegun Obasanjo made a similar call. Obasanjo who in 2015 worked against his party and helped to install President Muhammadu Buhari of APC suddenly found his voice. Disturbed by what he described as the poor performance of APC in office, Obasanjo mulled the idea of floating a new political party as a third force and hoped to harvest membership from dissenting voices. Unfortunately, his third force which would have served as alternative to APC and PDP failed to see the light of day. Since the return of democracy, Nigeria is yet to fully and maximally benefit from the dividends of democracy. While democracy literally means government of the people by the people and for the people, in Nigeria the reverse is the case. The system is being controlled and manipulated by powerful forces who decide who gets what and where. That is why our today’s political parties are not driven by any ideology. During the first and second republics, our politics was shaped by great personalities and what their different political parties could offer to the

electorate. One remembers with nostalgia how NPC and NEPU became the darling of Nigerians in the first republic. Even the NPN, PRP and other political parties of the second republic were great, and built on good ideologies. With the restoration of democracy after decades of military government, many Nigerians thought that the new registered political parties would brighten the country’s political atmosphere with befitting manifestoes strictly adhered to and enforced. However, both the PDP and APC have failed the country as noticed by Jega and other political observers. Their failures to transform the country economically and politically have become the topic of discussion among Nigerians. By advocating for the third force, is Attahiru Jega who joined PRP not cleverly inviting Nigerians to his party? PRP is the only surviving second republic political party. It was founded by the late radical politician, Malam Aminu Kano. For those who were opportune to witness the administrations both in Kano and Kaduna States under late Abubakar Rimi and late Balarabe Musa, they could testify to how they stuck to their party ideology. The party was founded for the emancipation of the talakawa from the anti-people policies of northern oligarchies. Furthermore, the fear being expressed by political pundits is that the proposed third force or whatever name you give it would end up like PDP and APC. Many political parties which serve as a leadership recruitment platforms, monitor government policies or oppose it have derailed from their manifestoes. Instead of calling for the third force, Nigerians should discard party politics and look for credible candidates. Let the electorate beam their searchlight and elect only people with impeccable character, irrespective of parties. Ibrahim Mustapha, Pambegua, Kaduna State

NO GOLD FOR BARBIE

he Olympics have finished in Tokyo, although there is still the Paralympics to start, and it has been a great success for the whole world in a time of difficulty. There have been many stories of success but not the Barbie one. Mattel, the manufacturers of Barbie have created an incomplete and inaccurate Olympic collection. There seems to be no doll of Asian appearance with only white and dark skin example available despite this being run in an Asian country. There does not appear to be any representatives of the LGBTQIA+ community despite a number of participants from these groups, both publicly known and some not yet willing or able to identify themselves so. It would also seem that Barbie only wins Gold Medals. There is nothing wrong with being second best in the world or 50th, it’s the participation that is important. There needs to be role models for young people, and it appears to be the athletes themselves and not the Barbie versions of the athletes. Dennis Fitzgerald, Melbourne, Australia

WEDNESDAY AUGUST 11, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

MIDWEEKPOLITICS

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

2023: Apprehension Heightens over Insecurity Iyobosa Uwugiaren illuminates some of the growing concerns by various stakeholders that the 2023 general election might be threatened by the unending insecurity in the land

Buhari

s Nigeria is struggling with the huge challenges of insecurity, created by the deadly activities of terrorist group Boko Haram, kidnappers and bandits across the country, there is palpable fear that there may be no peaceful environment to conduct the 2023 general election. The apprehension is created by mounting insecurity across the country. A recent Blog post by the Ralph Bunche Senior Fellow for Africa Policy Studies at the Council on Foreign Relations in Washington, DC, John Campbell, on the website of the Nigeria Security Tracker, a project of the Council on Foreign Relations, suggested that casualties occasioned by terrorists, bandits and kidnappers across the six geo-political zones in Nigeria, since May 29, 2015 till date, is on the increase. And analysts are worried that the security challenges are mounting despite a whopping amount of N5.081trillion that the President Muhammadu Buhari-led administration is said to have spent on defence, as well as, the appropriation of N4.669trillion to the Federal Ministry of Defence from 2016 to date and $1billion for the purchase of military equipment. However, despite this intense anxiety among stakeholders in the democratic project, insiders at the Defence Headquarters are pointing to the ongoing counter insurgency and counter terrorism operations, which the Nigerian military is stubbornly prosecuting across the country, which they say is gathering steam. There are indications that the military operations are becoming too hot for the enemies. ‘’In what appears to be an anti-climax in their bloody campaign, Boko Haram/ISWAP terrorists have been boxed into a cul-de-sac, courtesy of the unrelenting offensive operations of the Nigerian troops,” a military analyst, Chidi Omeje stated. He said that almost on daily basis in the past one month, scores after scores of Boko Haram/ ISWAP fighters have surrendered to troops in the theatre, with about ‘’300 commanders and footsoldiers’’ of the group along with their families have so far laid down their arms, denounced violence and renounced membership of the evil organisation. Attributing the recorded success - in the ongoing battle against terrorist to the ‘’aggressive deployment of intelligence, kinetic and no-kinetic onslaught’’ by the Nigerian Armed Forces, Omeje explained that the operations have led to the death of many of the terrorists and obliteration of their enclaves. THISDAY reported recently that the Nigerian Air Force’s continued airstrikes and heavy artillery bombardments on the territories of the blood-thirsty terrorists, especially in Sambisa Forest, have put so much pressure on the enemies and thoroughly unsettled them. The ‘’good news’’ about the military’s operations against the enemies of the country is coming at a time Nigerians and the international community are complaining gloomily about the number of fatalities recorded by the military

Yakubu

Yahaya at the hands of terrorist group and other criminals in the past six years. With over 20 military officers reportedly killed in three months - after three crashes involving Nigerian Air Force jets, analysts feared that unless some sweeping and radical actions are taken urgently, the military casualties would affect the morale of other troops. Sadly, several reports – both from local and international groups indicate that in 2020, over 3, 176 persons were killed by the bandits and herdsmen; while over 1,000 students were said to have been kidnapped between January and July 2021. With Zamfara, Niger, Kaduna, Benue, Borno, Adamawa, Sokoto, Katsina, Taraba and Plateau mostly affected by the deadly actions of the criminals, different reports also indicate that as of July 31, 2021, over 1,094 persons have been killed. In particular, the stories from Southern Kaduna day-after-day are frightening. The Southern Kaduna People’s Union (SOKAPU), an umbrella body for ethnic nationalities in the Southern part of the state, recently raised the alarm over what it described as ‘’genocide’’ against its territories by a terrorist group that wants to take over its land. The group, at a press conference recently, said that in the past few weeks, thousands of helpless villagers in Zangon Kataf and Kauru local councils - in Southern Kaduna attacked by militias have fled their land to Internally Displaced Persons (IDPs) camps and other places where they can find refuge. According to the President of the SOKAPU, Mr. Jonathan Asake, several villagers had trooped to Kagoro, Kafanchan, neighbouring Jos, Plateau State capital, Kujama and Kaduna metropolis to avoid further attacks by the armed men. And the group is not happy with the slow-response of the state government and security agencies towards what it

described as the humanitarian crises perpetrated by armed herdsmen. “Shockingly, the humanitarian crises generated by this crime against humanity seems not to bother Governor Nasir el-Rufai of Kaduna State. “Since the siege on Atyap land started last year, with that of Chawai that has been dragging on for over six years now, Governor el-Rufai has never visited any of the scenes of the violence and has never offered any form of assistance to the victims,’’ SOKAPU alleged. The group explained that in the last one week, atrocities have been committed in two local government areas: Kauru and Zangon Kataf, where 32 people were said to have been killed and four villages sacked. Katsina, the home state of President Muhammadu Buhari is not spared from these attacks. Governor Aminu Bello Masari, recently begged the Chief of Army Staff (COAS), Lieutenant General Faruk Yahaya, to act urgently and save the state from severe attacks by bandits and kidnappers, saying 10 out of the 34 local government areas of the state are defenceless. Masari, who expressed worry over the predominant security challenges in the state, affirmed that the worsening sequence of banditry accompanied by kidnapping, rape of innocent women and armed robbery on the state’s highways, were affecting his government’s effort to restore peace and normalcy in the state. Masari, who urged both residents and security agencies to work together in order to up the ante in the war against bandits, kidnapping and other criminal activities in the state, said the military and other security agencies in Nigeria needed logistics support and manpower to tackle the criminal activities in the country, particularly in the North-west zone of the country.

In Katsina, if we say we are very happy, we are not being honest. We are disturbed with this issue of banditry accompanied with kidnaping, rape of innocent women, armed robbery on our highways. I want technology to be properly deployed to bring these banditry activities under control. We are not deceiving ourselves that we will eliminate criminality; it has never been done before, it cannot be done today, neither, can it be done tomorrow, but we can bring it under control in such a way that it does not disturb the way of life of people

Baba “Here in Katsina, if we say we are very happy, we are not being honest. We are disturbed with this issue of banditry accompanied with kidnaping, rape of innocent women, armed robbery on our highways. I want technology to be properly deployed to bring these banditry activities under control. “We are not deceiving ourselves that we will eliminate criminality; it has never been done before, it cannot be done today, neither, can it be done tomorrow, but we can bring it under control in such a way that it does not disturb the way of life of people as we are seeing today. “10 out of 34 Local Governments in Katsina State are under severe bandits’ attacks daily. With that in mind, there is no way we can sleep. Our phones are permanently on to hear what is happening in local governments. Before breakfast, I am being briefed about what happened last night,” Governor Masari lamented. While tasking the federal government to act very fast, the governor argued that the purpose of governance is to protect lives, property, honour and dignity of people, saying that when it’s under attack, the entire system is under attack. In the South-south region, a recent survey titled, ‘’Insecurity in the Niger Delta – A Report on Emerging Threats in Akwa Ibom, Bayelsa, Cross River Delta, Edo and Rivers Stated,” carried out by a respected non-governmental body, Niger Delta Dialogue, revealed that the zone is experiencing multi-dimensional insecurity. The report said that having been the “hotbed of an armed militant insurgency’’ that peaked in 2009, other security challenges such as armed robbery, kidnapping, sea piracy, farmer-herder conflict, violent youth gangs and cult groups and other crimes, now form a complex web of insecurity that shapes everyday lives of the people in the zone. The survey conducted by 15 scholars from different universities, revealed that the range of security challenges in the South-south zone suggested a disturbing continuum of an “accelerated rise’’ in the intensity of violence, social upheaval, corruption in governance, failure of traditional governance mechanism and breakdown in socio-cultural norm. In the South-east part of country, the story is not different. Between January and July, 2021, over 23 police stations, in addition to a correctional facility, were targeted by the gunmen, leaving in their trail dead officers, burnt police stations, freed prison inmates, and empty armoury. Like other regions, there are also cases of criminal violence manifesting as cult wars, ransom kidnaps and armed robbery in the troubled region. In addition are constant incidents of pro-Biafra secessionist agitations that turned fatal in some occurrences and currently affecting the economic activities of the zone. There are reports that over 200 people have been killed in over 40 attacks in the zone. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

POLITICS

Between Dare and Dalung: Beyond the Olympics Politics Abiodun Adeniyi, while weighing in on the spat between the Minister of Youth and Sports, Mr. Sunday Dare and one of his predecessors, Solomon Dalung, over the participation of Team Nigeria at the just concluded Tokyo Olympics, concludes that the issues might not all be about sports alone, but the politics of it

Buhari

inister Sunday Dare was lately in the eye of the storm, obviously for the Olympics Games in Tokyo, Japan. He had assumed duties as a Minister on the back of an illustrious journalism career, a media entrepreneur, broadcaster, author, public relations manager, and as a public administrator. These trades are service oriented genres, sometimes intangible, but certainly productive in the smoothening of social processes and procedures. They are often empowering enough to hone managerial skills, provide multi-levelled perspectives and a knowledge of social nuances good enough to exemplify a bearer. Dare carried on with that background, adding a scintillating locution, a panache and candour, first tested by the October 2020 EndSARS protests, were as Youth Minister, he was supposed to be the charge. He largely took charge, did his bit, until the novel protests petered out, just like that; or perhaps, until another day. A second attention to him was with the just concluded Olympics Games in Tokyo, Japan, where he wass again the charge of a usually turbulent course, often combustive, for the disparate tempers of partisans, the hope the ministry represents, and the right focus on youths as persons of the future. How do we contextualize the darts towards him, during the games, and now after? How did he fare at the Olympics? One critic that especially caught my attention was his immediate predecessor, Mr. Solomon Selcap Dalung. He was angry that the minister dissolved Federations ahead of the games, and that preparations were not coterminous with responsibilities. He volunteered these in live television interviews, which eventually got cross and multiple postings. I wished, however, that this former minister who once “spended” all the money given the ministry very well had learnt something about grace and charity. I wish he also heard of Professor Bolaji Akinyemi, an erudite scholar, diplomat per excellence and former Minister of Foreign Affairs, who could easily pass for Nigeria’s own Henry Kissinger, Warren Christopher, or Madeleine Albright, for his feats at the ministry even though he was in charge for just about two years. Though Akinyemi is retired, he has been a keen watcher of global events, consistent with his callings as a Professor emeritus of International Relations. With that background, he passes for an authority on global affairs and could as well be a first-rate consultant for successive foreign affairs ministers and governments. With his broadened understanding, he could similarly rip apart some policy directions, if to exemplify his depth and penetrating appreciation of transnational occurrences. He could also do more, including

Dare disparaging think-tanks that came after him to prove that his expertise cannot be surpassed. Akinyemi is, however, urbane, epistemic and charitable. Not once has he been asked to comment on his successors performances. On every occasion, he has been circumspect, if at all responding to the questioners, arguing that he has done his part, and the onus is on his successors to do theirs. Reviewing their activities could, therefore, be petty, primitive, and uncultured. And even when such reviews are very necessary, he’ll rather allow others to do it for him. That’s the Prof. Dalung is not a professor, anyway and may not act professorial, but there are loosely three ways to learning. One, through formal education. Two, personal experiences, and there, the experiences of others. One of these routes should have served Dalung to understand that a public attack on his successor in office is not just infantile, but ludicrous, liminal and heedless. And what is more? Dalung is supposed to be in the same political party as his predecessor. He and Minister Dare, his successor, are believers in the President Mohammadu Buhari school of thought. Even if these do not make him avoid a public spat with the ministry, how about considering assumptions he is still bitter that he was dropped from the cabinet? And should his bitterness be directed at a man who knows nothing about why he was sacked, despite his high hopes of returning? Ministerial positions are highly respected offices where past and present holders are supposed to be exceptional, whether in their public and private lives. Our man, Dalung, dropped the ball here. He was simply uncharitable, discourteous, and coarse. It should never be a template.

Dalung That said, how did Dare perform at the Olympics? Having only been in office for about two years, should he take the blame for failures of some past leaders like Dalung? Records in the public space shows that Nigeria got a bronze medal in long jump, 25 years after Chioma Ajunwa won gold in Atlanta 1996, and that Nigeria won a silver medal for wrestling, first Olympic medal ever in the sport’s history; aside a 21-year-old Enoch Adegoke who became only the third Nigeria to get to the Finals of the 100 Meters Men event. There is also the record of Nigeria bagging two medals, a silver and a bronze, placing her 68 out of the two hundred and five countries at the Tokyo Olympics and fourth in Africa, besides Nigerian Olympians making record final finals at the Olympics. How about the Nigerian Olympians setting several new personal best records in Athletics, or reaching the final of shot-put for the first time in her history, and performing better when compared with London 2012 Olympics with zero medal and the Rio 2016 Olympics with one bronze medal? Are these being examined, or should we assume some politics are simply playing out? It was naturally worrisome seeing a sportsman who rather chose to manually wash his jersey, instead of using the washing machine, if for the sensational effect, but also salutary to read from the other side. Check: “Firstly, for kits or sports equipment for Team Nigeria, there are two categories: these are the General Wears and the Competition Wears. The General Wears category is the responsibility of the Ministry. The kitting of Team Nigeria for various National, Continental and International sporting events has always been the responsibility of the Ministry and this was no different for the Tokyo 2020

Dalung should understand that a public attack on his successor in office is not just infantile, but ludicrous, liminal and heedless. What is more? Dalung is supposed to be in the same political party as his predecessor. He and Minister Dare, his successor, are believers in the President Mohammadu Buhari school of thought. Even if these do not make him avoid a public spat with the ministry, how about considering assumptions he is still bitter that he was dropped from the cabinet?

Olympics. For the records, Team Nigeria was properly kitted for the Tokyo 2020 Olympics, with the Ministry buying a 9-item bag of kits for each of our athletes and officials. The second category of kits is the Competition Wears. This category is the specific competition kits which are peculiar to each sport and provided by individual Sports Federation.” And also, we have been told that the Ministry provides financial support to each Sports Federation as required, and it is the responsibility of each National Sports Federation to provide these Competition Wears to their team athletes and officials, and for the Tokyo 2020 Olympic Games, each of the Sports Federations bought the Competition Wears for their respective teams, in relation to their specific needs. The AFN got enough specific wears from AFA Sports directly for their athletes at the Games, while the Ministry leveraged on the Local Content Policy of the Federal Government in looking inwards to engaging an indigenous company, AFA Sports, to produce the general kits. It was equally interesting to hear the Minister on the controversial Puma deal. He said: “We are optimistic. Many people don’t know the truth. It was expected that Puma would end that contract. Why not? The kits provided by Puma is a subject of litigation. But people will soon know the truth. Those who bought the kits are running from pillar to post and from one media to another to tarnish my name and make me look like the bad guy. Is their concern really about the progress of Team Nigeria? Or they are afraid of what is going to happen when this massive case of fraud unravels? I have no regrets at all. Yes, the Puma kits were available before we went with our Made-in-Nigeria kits, which are equally beautiful and durable and also good for our economy. “The Vice-President, Professor Yemi Osinbajo unveiled the kits, so you think he would take part in that process if the kits were no good? It is common knowledge that the former AFN president, Engineer Ibrahim Shehu Gusau is desperate to extricate himself from a contract that he controversially signed the AFN into, which has now placed him in a position of trying to blackmail Team Nigeria into wearing the kits. Ibrahim Gusau has conveniently neglected to tell Nigerians that he and Sunday Adeleye signed a non-disclosure agreement with Puma, which details are unknown to the Ministry and board members of the AFN. Nobody will blackmail Team Nigeria into wearing those kits, they can raise all the dusts they want, but the dust will eventually settle and then they will dance to the music.” The issues, might after all not be about sports alone, but the politics of it. For the latter, Dare has been salutary. For the former, time will tell.

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

POLITICS

Sanwo-Olu: Sustaining APC’s Winning Habit

GOVERNANCE IN PHOTOS

Lagos, under Governor Babajide Sanwo-Olu, has continued to sustain the winning habit of the All Progressives Congress as exempliﬁed with the recent council elections, writes Vanessa Obioha

Sanwo-Olu

ince the return of Nigeria to civilian administration and birth of Fourth Republic on May 29, 1999, Lagos State has remained one of the few states in the country being run by same political structure. Lagos State has never left the path of the progressive politics at both the state and local government levels. The first governor in the Fourth Republic, Asiwaju Bola Tinubu came into power under the auspices of Alliance for Democracy (AD), which later changed to Action Congress (AC) and Action Congress of Nigeria (ACN). Through this political transition, the party’s focus on bottom up developmental initiatives did not change. The Local Government Council administration was at the centre of every action plan. This accounted for the creation of 37 more Local Councils Development Areas by the Bola Tinubu administration aimed at bringing governance closer to the grassroots people. The development continued under the All Progressives Congress (APC), which came into being in 2014 after the merger by the ACN, Congress for Political Change (CPC), All Nigeria Peoples Party (ANPP) and a faction of the All Progressives Grand Alliance (APGA) and Peoples Democratic Party (PDP). Two years after, the ruling party swept the 20 local governments and 37 Local Council Development Areas (LCDAs) chairmanship seats and also won 370 out of the 377 councillorship seats during the 2017 council elections in the State. Same feat was repeated during the election that produced the incumbent Governor, Mr. Babajide Sanwo-Olu as the fourth governor of Lagos State in the present Fourth Republic. Governor Sanwo-Olu is also guarding the ‘legacy’ jealously as his emergence as governor has strengthened the ruling party in Lagos State, making it an acceptable party to Lagosians due to his developmental strides in the last two years. Sanwo-Olu’s for a ‘Greater Lagos’ vision, which he is already bringing to life through the THEMES developmental agenda has been a blessing to the political fold. Governor Sanwo-Olu has shown leadership in Lagos State by delivering dividends of democracy and good governance to citizens of the State since his assumption into office on May 29, 2019. His achievements have earned him recognitions and awards locally and nationally as one of the best performing governors in Nigeria. Last Saturday’s landslide victory of APC in the State local government elections across the 57 councils and 377 wards did not surprise millions of Lagosians. It was a testament of the developmental strides of Governor Sanwo-Olu, which has made the All Progressives Congress the best option for the residents. The July 24 local government elections produced smiles and tears, losers and winners, heroes and villains as well as additional feathers to the political caps of some politicians and political gladiators at state, local government

and ward levels. One of those who got a notch in their belt after the keenly contested election was Governor Sanwo-Olu for successfully continuing the legacy of the ruling party by sweeping all seats during election. Also, the election was adjudged to be one of the freest and fairest. There was no single report of breakdown of law and order, ballot box snatching, fighting and others vices associated with elections of that magnitude. As the number one citizen in Lagos State, a lot was expected from Governor Sanwo-Olu as many entrusted him to deliver for his party. As a seasoned administrator and manager of human and resources, the Governor never disappointed in sweeping victories for Lagos APC during last Saturday council polls. He was fully involved in the party’s electioneering as he joined thousands of party chieftains and members in presenting APC flag to chairmanship candidates at the party’s secretariat on Sunday July 18. Speaking at the handing over of party flags to the 57 chairmanship candidates ahead of the elections, Governor Sanwo-Olu charged them to replicate the political victories of the party being witnessed across the country in the poll. He said the party’s current successes across the country, culminating in the mass defections of political top echelons to the party showed the acceptance of the party by the people. The governor added that the local government is a critical arm of government, saying “We have three tiers of government and everybody has their roles and responsibilities. But as a state government, we will continue to ensure that our development agenda is spread across the state and because we own all the local governments we will ensure it is reflective in all local governments and that is what we are doing. “So, what we expect from them is to key into our agenda. So that when they come in, they can also hit the ground running in all the wards that we have. We expect them to start work immediately. The state government will carry out some projects in the wards but we expect complimentary roles from these chairmen; we expect them to compliment that and do more.” After the event, Governor Sanwo-Olu didn’t go to sleep; he worked more and talked less to ensure that the ruling party continues its dominance in Lagos politics. Given the fact that he walks his talk, he rolled out the strategic framework with leaders and members of the party, dotted his ‘I’ and crossed the ‘t’, mapped out his strategies and capitalised on the strength of the party across the 57 councils of the state to ensure that APC won in all polling units. Without any iota of doubt, the laudable performance and the developmental strides of Governor Sanwo-Olu contributed to the landslide victories of APC in the 57 councils and 377 wards. ‘Sanwo-Eko’ as the Governor is popularly called by politicians in Lagos State has done his best to satisfy the different class of people in the state as his projects which cut across the nooks and crannies of the state touched both the rich and the poor, especially at the local level. There is no ward among the 377 wards in Lagos State that has not benefitted from the Babajide Sanwo-Olu’s administration, as the Midas touch of the governor cut across all strata in the state. Undoubtedly, the input and influence of Sanwo-Olu and his determination to work with other stakeholders in the party across the 20 LGAs and 37 LCDAs was an added advantage to APC’s victory in the last council polls as the party leaders and members irrespective of their differences worked together towards winning the hearts of the electorate for APC in the state. The outcome of the Lagos State local government elections has clearly redefined any narration about the political acumen and strategy of Governor Sanwo-Olu as a performing governor and good manager of party politics. Without any shred of doubt, the achievements recorded by APC during Sanwo-Olu’s tenure would be replicated in future elections.

L-R: Chairman, All Progressives Congress, FCT Chapter, Alhaji Abdulmalik Usman; Hajiya Ramatu Tijani Aliyu, Minister of State for FCT; Senator Khairat Gwadabe and Mr. Gbenga Olawepo-Hashim at an APC stakeholders meeting in the FCT, where Olawepo-Hashim was formally welcomed into the party

Senator Uche Ekwunife (left) and Mr. Valentine Ozigbo, governorship candidate of the Peoples Democratic Party in the November 6 Anambra State governorship election at an event where Ekwunife was named Chairperson of the Valentine Ozigbo Campaign Council

L-R: Ekiti State Head of Service, Mrs Peju Babafemi; Ekiti State Governor, Dr Kayode Fayemi; with Ondo State Head of Service, Pastor John Adeniran; during the Ondo Head of Service working visit to Ado-Ekiti

From left; Speaker, Osun State House of Assembly, Hon Timothy Owoeye; Deputy Governor, Mr Benedict Alabi; Governor Gboyega Oyetola; his wife, Kafayat Oyetola; National President Nigeria Civil Service Union, Comrade Lawrence U. Amaechi and Chairman, Osun State Civil Service Union, Comrade Christopher A Arapasopo, at the presentation of Best Governor Award to Governor Oyetola, during a One-Day Retreat and Award Programme of the Nigeria Civil Service Union, South -west Zone, at the Staﬀ Development Centre, Abere, Osogbo

WEDNESDAY AUGUST 11, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

FEATURES

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

Kogi's Blueprint for Holistic Regeneration, Reformation Following the abysmal level of socioeconomic development on ground, Chiemelie Ezeobi reports that upon assumption of office, Governor Yahaya Bello, against all odds, launched the New Direction Blueprint, which has become the roadmap for proportional and accelerated development of Kogi State

Distribution of power tillers to enhance mechanized farming

Training of youth under the Fadama project

society: How Kogi’s three main ethnic groups became one’ by the Commissioner for Culture and Tourism, Hon. Isah Idachaba; and 2023 elections: Journalists as agenda setters’ by President, Nigeria Union of Journalists, Chief Chris Isiguzo.

hen I came into office for the first time on January 27th, 2016 our people needed change desperately and their expectations were sky-high. I was the youngest governor in the country and because of our youthful energies and perspectives I know everyone, even from outside the state, expected fireworks and magic, or in other words, an overnight success. "As governor, I never once underestimated the amount of work that needed to be done considering the abysmal levels of socioeconomic development we inherited. But I also tell myself that I did not come into government to glorify impossibilities, but to solve problems. Thus I had a vision for the state even before I ran for office which formed the substratum of my manifesto during campaigns and I had it developed into a roadmap for my work once I was elected governor." Those statements above were made by the Governor of Kogi State, Alhaji Yahaya Adoza Bello at the first annual Governor Yahaya Bello (GYB) Seminar for Political and Crime Correspondents/Editors. Inaugural Chat To rub minds with journalists, crime and political corespondents and editors in particular, and bring to fore the achievements recorded under this administration, the first ever GYB inaugural meet and greet-cumseminar was initiated. Following the welcome remarks by the Secretary to the Kogi State Government, Dr (Mrs) Folashade, Arike Ayoade, the governor of the state, Alhaji Yahaya Bello, fondly known as Essential GYB, shared the vision and mission for Kogi State under his watch, which led to an avalanche of questions for the governor and team. This was followed by several presentations covering security, politics, youth participation, governance, education, and even agriculture. The seminar was wrapped up by the Director-General, Research & Development, Kogi State, Mr. Moses Okezie-Okafor with questions and answers before the closing ceremony/gala night/presentation of GYB Media Merit Awards/Presentation of Certificates, thus signalling an end to what was an eventful dialogue. Presentations Billed for the seminar were presentations on "Youth Participation in Governance: Effect on crime rate” by the Chief of Staff to the Governor, Pharm. Abdulkareem Jamiu Asuku; "Prioritising Education as pre-requisite for a peaceful society: The Kogi example” by the Commissioner for Education, Science & Technology, Kogi State, Hon. Wemi Jones Ojo; ‘Achieving food security in spite of global

Bello

economic downturn. The Kogi story’ by the Commissioner for Agriculture, Hon. David Apeh; "Reporting Nigeria for Nigeria’ by Editor-in-Chief, Leadership, Mr. Azubuike Ishiekwene; ‘Constructive reporting in crisis situation’ by former Presidential Spokesman, Dr. Reuben Abati. This session was wrapped with a newsroom exercise anchored by THISDAY Columnist, Mr. Eddy Odivwri The event also recorded presentations on "Taming insecurity across Nigeria: Special focus on the North’ by the Publicity Secretary, Arewa Consultative

Forum, Mr. Emmanuel Yawe; insecurity and the role of women: Case study of Kogi State' by the Commissioner for Women Affairs & Social Development, Kogi State, Hajia Fatima Kabir Buba; and ‘Impact of Civil Service reform on national growth: Kogi as Case study’ by the Secretary to the State Government, Dr (Mrs) Folashade Arike Ayoade. Others include ‘Citizens’ participation and efficient security architecture: What we did differently' by the Kogi State Security Adviser, Navy Commander Jerry Omodara (retd); ‘Peaceful coexistence in a multi-ethnic, multi-religious

Did we magically transform Kogi State overnight? I wish I could say yes here, but no. My team and I promised to work hard and to work smart for the people of Kogi State but we did not promise them magic. Thus, the best I can do is to say that we tried, and that we have not stopped trying

The Governor's Vision Disclosing his vision for the state, he said as the youngest governor in the country, many expected fireworks and magic, or in other words, an overnight success, adding that he had a vision for the state even before he ran for office which formed the substratum of his manifesto during campaigns. With the campaign over, he lived up to his promises by developing the manifesto into a roadmap called the New Direction Blueprint, which he said became the roadmap for proportional and accelerated development of Kogi State in all her constituencies. He added that "as a leader, I have my eyes on leaving lasting legacies and not necessarily making good impressions on people who are hell-bent on making dents in our accomplishments through dishonesty. By its nature legacy cannot be frontloaded, it must always be a verdict delivered by posterity, in retrospect. "This means that legacy is not a medal you award yourself, it is one earned by hard work the results of which extend into the future. For that very reason legacy cannot be permanently denied by malicious actors and a leader who must succeed must care little or nothing for distraction. With the foregoing always in view the GYB Administration has never, not even for one day, worked for applause but for positive impact and always in the overall best interests of the people of Kogi State. "Did we magically transform Kogi State overnight? I wish I could say yes here, but no. My team and I promised to work hard and to work smart for the people of Kogi State but we did not promise them magic. Thus, the best I can do is to say that we tried, and that we have not stopped trying. This is because good things have processes that take time, including development and good governance of a society. Fireworks may light up the night but finally people must calm down and patiently wait for the day to dawn." Impact of Civil Service Reform The civil service is the engine room of any government charged with day-to-day implementation of policies and programmes, as well as management of public expenditure. Harping on the reforms initiated by Governor Bello in the civil service, Secretary to the State Government, Dr (Mrs) Folashade Arike Ayoade in her paper on ‘Impact of Civil Service reform on national growth: Kogi as Case study’ said if there is peer

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

FEATURES

State of the art referral vehiclesambulances to boost health sector infrastructure

review among states, they can tap from some elements of the Kogi Civil Service Reforms. Stressing that the role of the civil service in national development cannot be overemphasised, Ayoade said the first issue they tackled was the huge wage bill and debt due to undefined salary structure and over-bloated service compounded by ghost workers. Noting that it was a drain on the government's purse, with support from her principal, they set to work and can now boast of proper accounting, owing to the Treasury Single Account. They also weeded out 9,000 ghost workers which have stayed out given the constant auditing of the accounts. Another issue they tackled was the lackadaisical attitude to work. But to deal with this, they first tackled the underlying factors like the poor conditions of service, working environment, backlog of salaries and delayed promotions including those without corresponding financial backing. Having done that, the system of reward and penalty was instituted. This is just as they carry out habitual training and retraining to improve their capacity. Also, another drain in the government's purse was the duplication of duties making it impossible to hold anyone responsible for shabbily done jobs. To tackle this, she canvassed a merger modality, thus cutting cost of governance. This was just as infrastructural decay and lack of adequate and proper tools for work hampered effectiveness and efficiency. Additionally, to address the crave for ‘juicy ministries’ by top officials, she is there is a written examination to determine the fitness and suitability of top officials for ministries, based on their long years of service, experience, skills, conduct and public good. Another massive reform taken by the Kogi Civil Service is championing life after retirement for its pensioners by keying into the Contributory Pension Scheme introduced by the federal government in 2004. The state has also carried out reforms of the local government system in a bid to make it more effective. Essentially, the reforms in the civil service in Kogi by the governor and team has led to seamless governance, which if sustained, will continue the state on a trajectory of growth. Achieving Food Security In the paper on ‘Achieving food security in spite of global economic downturn: The Kogi story’, the Commissioner for Agriculture, Hon. David Apeh said the current global crisis is historically unprecedented worldwide with several factors converging to make it particularly damaging to people at risk of food insecurity. "This global economic downturn is enveloped with a food crisis that pushed the price of basic staples food beyond the reach of millions of poor people. In addition, the crisis is affecting large parts of the world simultaneously. This current global economic crises that hit developing countries like Nigeria tended to be confined to individual countries or several countries in a particular region." Citing causes of underlying food crisis as drought, flood and conflicts (farmers/ herders crisis), kidnapping/banditry, high

Conﬂuence University of Science and Technology Osara

rate of rate of population growth, and poverty also play a part within an already difficult environment, he said in achieving food security in spite of the global economic downturn, Kogi State having in mind the importance of food availability to her citizen is in true collaboration with government and non-government agencies across the state to easy the effects. Noting that the mainstay of the state's economy is agriculture and has comparative advantage in the production of cashew, rice, cassava, palm oil, maize, beniseed, cowpea, yam as well as livestock and aquaculture, he said the state collaborates with World Bank to fund programme such as the agro processing, productivity enhancement and livelihood support (APPEALS) project which empowers youth/women in rice, cassava and cashew production; International Fund for Agricultural Development/Value Chain Development Programme (IFAD/ VCD) also in rice and cassava. Also the state collaborates with Central Bank of Nigeria (CBN) to fund project, which will empower youth and women in the development of aquaculture and cassava production and processing under this programme known as Accelerated Agricultural Development Scheme (AADS). Also, some agricultural implements like 100tractors were purchased by the

governor and is trusted to two local government areas; 1000 power tillers which were distributed to women farmers all over the state; irrigation facilities e.g water pumps etc. procured for use during dry season along the bank of River Niger and Benue; as well as procurement of implement/ farm inputs across the state facilities which were distributed to farmers. He further stated that barring factors of COVID-19, flood, farmers/herders clashes, cattle rustling, declining soil fertility among others, the state is poised to record increased food production and food security, adding that the gains of the past which slowed down by the COVID-19 pandemic are picking up again. Conclusively, "not minding the shortage of resources, Kogi State will not relax in making sure that the availability of food for it citizenry will be her top priority," he added. Youth Participation and Effect on Crime Noting that youth participation is pivotal in governance, the Chief of Staff to the Governor, Pharm. Abdulkareem Moh’d Jamiu, while quoting Kofi Annan, the Former Secretary General of the United Nations, posited that any society that cuts itself from its youth severs its lifeline. In his presentation on 'Youth Par-

In the last ﬁve years, our results speak for themselves. By 2018, after about two years in the oﬃce, Kogi went from being a violent crime hub and the kidnap capital of Nigeria to the 'second most peaceful state in the country' and 'the state with the second lowest crime statistics in Nigeria' according to the rating agencies and law enforcement records

ticipation in Governance: Effect on Crime Rate' he noted that youth participation in politics and governance is a subject that has continued to generate nationwide interest because it pertains to the socio-economic development of the Nigerian youth. He said: "Nigeria has the third largest youth population in the world and a median age of 18 years. However, the youth demographic is grossly under-represented in Nigeria’s governance process. A cursory overview of the median age of Nigeria’s leaders will show that the nation’s political echelons are dominated by persons older than the age of 50. "The general and if I might add, biased perception about our youth is that they are inexperienced and not mature enough to be trusted with the affairs of the state. Consequently, youths have been left out in major decision making and policy formulation processes that ought to serve their interest. This has led to the systemic marginalisation of youths in politics and engendering leadership succession in the country. "The average Nigerian youth is well equipped with the skills and technical knowhow to make a difference in Nigeria’s governance architecture but hardly are they given the opportunity to put these skills to work in mainstream development and governance. "More so, the youth in Nigeria is confronted with a lot of micro and macro challenges that stands in his/quest to becoming a part of the governance process. In Nigeria, youths face poverty, displacement, barriers to education, multiple forms of discrimination and limited employment prospects and opportunities. All these have constituted a clog in the wheels of growth and development of both the body and minds of the majority of our youths." But beyond the socio-economic problems that these challenges portend, he opined that the perception of alienation and marginalisation of youth has led to problems of insurgency, banditry and insecurity in certain regions of the country, adding that the fundamental obligation of any democratic society is to ensure the security of lives and properties of the citizenry. Proffering solutions, he said early action to ensure fair representation of youth in the process of governance builds resilience and social cohesion, as well as serves as a medium for curbing crime and conflict prevention for vulnerable and at risk youths. For youth participation in governance to go beyond the enactment of the Not Too Young to Run Act, he noted that it is expedient that strategic measures for the active participation of competent youth and equal opportunities for governance are created. Commending Governor Bello for walking the talk, he said the governor has ensured adequate representation of youth in all stratum of government, full gender affirmation and the inclusion of persons with disabilities in the process of governance. Having noticed the insecurity situation and marginalisation in the governance system of Kogi State, he said the governor joined the gubernatorial race at the age of 39 in 2015 and by God's grace was sworn in as the fourth Executive Governor of Kogi State on the 27th January 2016 at the age of 40. Continued on page 26

T H I S D AY ˾ WEDNESDAY ͯͯ˜ ͰͮͰͯ

FEATURES

Kogi's Blueprint for Holistic Regeneration, Reformation

Conﬂuence rice mill plant

"Evidently, at 32, I was appointed DG protocol in 2016 and at 36 I was upgraded to the Chief of Staff to the Governor of Kogi State in 2019. His youngest political appointee, Mr. Edogbo, the Technical Assistant to Kogi State Governor on Private Sector and Digital Economy, is 25. A host of other vibrant youths are now decision makers in Kogi State, as against being used as political thugs or member of an organised criminal syndicates; they are off the street thereby curbing insecurity. Thus, Kogi State is unarguably the safest state in Nigeria today despite having borders with 10 states including FCT. "Governor Yahaya Bello’s brilliant legacy and his accomplishments are a true testament to what can be achieved when youths and women are given the opportunity to participate in the process of governance. It is imperative to note that, power is not given, it is taken. Young people must determine their own destinies and chart a new course for the desired future that they want. "As 2023 approaches, young people must start asking questions as regards what the future holds for them. They must demand to be participants in the governance process of Nigeria. The numerous endorsem theent of Governor Yahaya Bello by youths and various groups across the nation represents a democratic ideal for the youth demographic: that it is time to be part of the decision making governance system of our country. "Suffice to say that, Governor Yahaya Bello is the modern day Yakubu Gowon who is working assiduously to unite the North and the South through a handshake across the Niger. Governor Yahaya Bello is without mincing words, the bridge between the north and the south, between the old and the new, between the fast and the slow and we young Nigerians have a duty to ensure that he is given a chance to lead Nigeria to a prosperous promised land.' Finally, he postulated that judging from Governor Bello's achievement, it will be right to say that political exclusion of youth and woman has direct correlation with insecurity that Nigeria is facing today. As such it is time for the youth to rise and take that which belongs to them! Citizen Participation and Efﬁcient Security Architecture Security is an important and critical element to the progress of any government or organisation as valuable development can be achieved without adequate security. Kogi is no different as his efforts against insecurity has brought the crime rate in the state to its barest minimum, making Kogi State a safe haven for settlers, investors and a connecting bridge between the north and southern regions. But it wasn't always like this as the state was once plagued with a host of insecurity challenges which were inherited, prominent among these includes terrorism, kidnapping, assassination, political agitation, pipeline vandalism, herders/host community clashes, communal clashes and high rate of cultism. To tackle this, government found the need to restore peace and confidence to the people by embarking on programs and policies

Procurement and distribution of Massey Ferguson tractors to the farmers across the 21 Local Government Area

Maternal Newborn and Child Health Intervention programme

as immediate priority and strategic solutions. Speaking on 'Citizens’ participation and efficient security architecture: What we did differently', the Kogi State Security Adviser, Navy Commander Jerry Omodara (rtd), said the concrete programmes and policies embarked on by the government have been yielding the much desired results as the security situation in Kogi State today has improved tremendously as compared to what obtained in the past. Noting that because the state shares boundary with nine states of the federation and the FCT, Abuja, he said this has made it vulnerable to all sorts of criminal activities as people of questionable characters from different parts country converge to cause havoc on innocent people. Meanwhile, the governor noted "we set our sights on security in the state and overhauled it. Nigerians may want to know that our police, military and other law enforcement officers are not cowards. The vast majority of our officers are good, intelligent and diligent folk. We discovered that they just needed the right tools to do their jobs and a little motivation to give us their best. We did our best to give them both. It took a huge toll on our resources, but we got and distributed over 200 patrol vans, over 500 motorcycles and

thousands of communications and other gadgets to our security contingents in Kogi State within our first year. "In the last five years, our results speak for themselves. By 2018, after about two years in the office, Kogi went from being a violent crime hub and the kidnap capital of Nigeria to the 'second most peaceful state in the country' and 'the state with the second lowest crime statistics in Nigeria' according to the rating agencies and law enforcement records. The ubiquitous armed robbery and communal clashes we inherited are largely extinct now. "We still record kidnapping but only as opportunistic attacks far removed from the franchised operations they used to be in the past when bus loads of passengers were routinely abducted for random on our highways. Much respect for our gallant law enforcement contingents in Kogi State who generally subdue such criminality with professional despatch and extreme prejudice." On what they did differently, Omodara noted that by "defining the geographical location and providing the right security apparatus, it is worthy of note that no two states in Nigeria are the same as it relates to people, typography, geographical location access roads, infrastructures religion, ethnic diversity All these helped in determining suitable security applications.

We rooted out several bandits and kidnappers camps as well as cultists in some local government areas of the state through cohesive intelligence gathering and operations; intervened, resolved and resettled communities involved in one communal crisis or the other through well structured meetings with stakeholders

"We rooted out several bandits and kidnappers camps as well as cultists in some local government areas of the state through cohesive intelligence gathering and operations; intervened, resolved and resettled communities involved in one communal crisis or the other through well structured meetings with stakeholders particularly security agencies, traditional rulers and community leaders. "The construction of 23.7 kilometers access road from Achara covering Rhombo, Kpokpolobi, Tsaseri, Kpari, Gbubudu, Ishua, Adingere in Kogi LGA to Uttu Forest in Nasarawa State on the advise of the Nigerian Army to minimise or eradicate incidences of banditry, kidnapping and armed robbery in the wide forest; training of 441 Special Police Constabulary at Police Training School, Ilorin. The IG approved 16 each for the 21 LGAs of the state, amounting to 336. The governor added five each from the LGAS making 105 and bringing the total to 441. The constables successfully passed out on 29 December, 2020 to strengthen the security of the state; "Strengthened human and technical intelligence; provided synergy among security agencies; monthly Review, Re-appraisal, Respond (RRR); and debriefing of kidnapped victims by security agencies." According to Omodara, the target securitywise remains that the state government "will ensure the activities of various components of our Internal Security as harmonised with informed policy guidelines towards strengthening internal security and community policing; "With the success story in the use of local hunters and vigilantes in our deployments, will soon look into amendments of the Kogi Vigilante Service Law to integrate hunters into our system; we will continue to coordinate activities of various security agencies for the enhancement of adequate security and observant of human rights in the state; we will equally continue to call of relevant of stakeholders and companies to contribute substantially to the state Security Trust Fund. "We recognised the need for sensitisation and aware campaigns to guarantee the required support and confidence of the public towards strengthening internal security framework in the state; while the will continue to seek for Special Security Intervention Fund from the federal government because of our strategic location in the country", Omodara surmised. About Kogi State Kogi State of Nigeria, which is covered with a land mass of about 28,313.53sqkm, is bordered has borders with 10 states including the FCT. Located in the Northern Nigeria, it was created in 1991 from parts of Kwara State and Benue State. Kogi State is nicknamed the "Confluence State" due the fact that the confluence of the River Niger and the River Benue occurs in its capital, Lokoja. According to Wikipedia, due to its strategic position in the middle of the country and its access to these major rivers, Kogi State is a key center of commercial trade in Nigeria. The majority of Kogi State residents are Igala, Ebira and Okun. Agriculture remains dominant in the Kogi State economy.

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

REPO 27.50% 28.75 %

CALL 1-MONTH 3-MONTH

A T

Email oriarehu.eromosele@thisdaylive.com

08056356325

A U G U S T

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

4% 6% 10%

Group Business Editor Eromosele Abiodun

S & P INDEX 1/4 TO DATE

535.12% 0.13% 0.40%

YEAR TO DATE

1 0 , 2 0 2 1 EXCHANGE RATE N411.50/1US DOLLAR* *AS AT LAST FRIDAY

0.40% -20.10%

Total, Seplat, Others’ Revenue Hit N500.93bn in H1 2021 amidst Higher Margin in Products’ Sales

Darasimi Adebisi Listed Oil & gas companies on the Nigerian Exchange Limited (NGX) reported growth in profit and revenue driven by hike in prices of Premium Motor Spirits (PMS), among others. The Oil & gas companies that have so far released their half year results for period ended June 30, 2021 on NGX are; Ardova Plc, Total Nigeria Plc, MRS Nigeria Plc, Conoil Plc, Seplat Petroleum and Eterna Plc. For the period under review, these companies grew revenue by 30per cent to N500.93 billion when compared to N384.08 billion reported in half year ended June 30, 2020.

Also, profit for the period moved from N379.8million in H1 2020 to N11.39billion in H1 2021. The federal government had early this year wanted to suspend subsidy payment on imported petroleum product, PMS, when the global oil price gained significantly over Crude oil production cut by the Organization of the Petroleum Exporting Countries (OPEC). A report by National Bureau of Statistic (NBS) revealed that average price of PMS between June of 2020 and June 2021 has increased by 28.49 per cent to N165.61 per litre from N128.88 per litre sold last year. The report by NBS also stated

that price of Automotive Gas oil (Diesel) rose by 8.05 per cent to N242.42 per litre this year from N224.37 litre sold last June. The price of PMS, better known as petrol, currently hovers around N162/N163 per litre. However, the fact that the price of the commodity is still been sold at an average of N162/N163 per litre stations across the country, meant that the federal government, through the Nigerian National Petroleum Corporation (NNPC) is still subsiding a litre of the commodity for Nigerians. Specifically, an independent indigenous Nigerian energy

company, Seplat Petroleum Plc in the period under review grew revenue by 50.4 per cent to N120.44billion in H1 2021 from N80.12billion reported in H1 2020. The company listed on NGX and London Stock Exchange reported a profit of N14.12 billion in H1 2021 from a loss of N37.78billion reported in H1 2020. Capital market analysts have urged investors to invest in listed Oil and gas stocks with strong fundamentals rather than patronizing banking stocks as most are struggling to survive numerous policies of the regulating bodies. In the period, two compa-

nies, Total Nigeria and Seplat Petroleum declared interim dividend of N4.00 and $2.5 cents respectively. On its part, Conoil Plc also grew revenue by 17.7 per cent to N67.6billion in H1 2021 from N57.46billion reported in H1 2020 to drive profit by 214 per cent to N1.06billion in H1 2021 from N338.7million reported in H1 2920. The growth in profit drive the company’s Earning Per Share to N1.53 in H1 2021, about 214 per cent increase over N0.49 reported in H1 2020. A multination petroleum marketing company, Total Nigeria Plc reported N8.07billion profit in H1 2021 from N537.2million

loss reported in H1 2020 over 41.8 per cent increase in revenue to N151.33billion in H1 2021 from N106.7billion reported in H1 2020. Analysis of the results released by Eterna Plc showed that the company migrated from a loss of N66.58million in H1 2020 to N310.5million in H1 2020, attributable to 33 per cent increase in revenue to N37.99billion in H1 2021 from N28.52billion reported in H1 2020. In addition, MRS Oil & Gas also migrated from a loss of N329.7million in H1 2020 to N151.5million in H1 2021, Continued on page 28

Fixed Income, FX Markets Sustain Momentum Recording N15.31trn, N4.16trn Turnover in One Month Eromosele Abiodun Investors’ interest in the fixed income and currencies markets has continue to soar as both markets recorded significant increase in turnover in June 2021, a report by FMDQ OTC limited has revealed. Analysis of the report revealed that fixed income markets recorded a turnover of N15.31 trillion for the month ended June 30, 2021, representing a month-on-month (MoM1) increase of 49.51 per cent to N5.07trillion and a year-on-year (YoY2) decrease of 7.04 per cent (N1.16trn). The report revealed that foreign exchange (FX) and

money market transactions were the highest contributors to the fixed income markets turnover in June 2021, jointly accounting for 64.18 per cent of the total fixed income markets turnover. Similarly, the FX market recorded a turnover of $10.12bn (N4.16trillion), in June 2021, representing a MoM increase of 38.44 per cent ($2.81billion) from the turnover recorded in May 2021 ($7.31billion). According to FMDQ, the MoM increase in total FX market turnover was jointly driven by the 17.90 per cent ($0.75billion) and 65.73 per cent ($2.06billion) increase in FX Spot and FX Derivatives turnover respectively

in June 2021. “The MoM increase in FX Derivatives turnover was driven by MoM increase in turnover across all derivative products, as FX Swaps, FX Forwards, FX Futures and Other Derivatives turnover increased by 88.07 per cent ($0.92bn), 19.80 per cent ($0.26billion), 118.18 per cent ($0.51billion) and 106.84 per cent ($0.37billion) respectively. “In the OTC FX Futures market, the near month contract3 (NGUS JUN 30, 2021) with a total outstanding notional value (NV) of $0.29billion matured and was settled, whilst a new long-term Continued on page 28

Source: FMDQ

M A R K E T D ATA A S AT T U E S D AY, A U G U S T 1 0 , 2 0 2 1 FGN BONDS DESCRIPTION 11.668 FGNSB 15-AUG-2021 10.301 FGNSB 16-AUG-2021 11.150 FGNSB 11-SEP-2021 12.364 FGNSB 12-SEP-2021 12.175 FGNSB 10-OCT-2021

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

100.11

3.16

0.00

NTB 26-Aug-21

3.00

3.00 0.00

100.12

3.16

0.00

NTB 9-Sep-21

3.10

3.11 0.00

100.69

3.13

0.00

NTB 16-Sep-21

3.15

3.16 0.00

100.82

3.12

0.00

NTB 30-Sep-21

3.25

101.49

3.08

0.00

NTB 14-Oct-21

3.35

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS AUG 25 2021 420.93

NGUS SEP 29 2021 422.38

NGUS OCT 27 2021 423.83

3.26 0.00

NGUS NOV 24 2021 425.28

3.37 0.00

NGUS DEC 29 2021 426.73

C Ps MATURITY

Discount Yield

Change (%)

MREP CP XXXI 13-AUG-21 UNCP CP III 27AUG-21 VAAG CP I 27AUG-21 TTNG CP II 31AUG-21 SIBP CP I 2-SEP21

9.02

9.03

0.00

4.26

4.27

0.00

10.20

10.25 0.00

4.59

4.60

0.00

4.13

4.14

0.00

WEDNESDAY AUGUST 11, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

TACKLING COVID-19…

L-R: Group Head, Corporate Communications, SIFAX Group, Olumuyiwa Akande; Dean, Faculty of Education, Obafemi Awolowo University, Prof. Bola Omoteso; Vice Chancellor, Obafemi Awolowo University, Prof. Eyitope Ogunbodede and Group Executive Director, SIFAX Group, Bode Ojeniyi during the 5th International Conference on Education organised by the Faculty of Education, Obafemi Awolowo University with the theme- COVID-19 and Emerging Issues in Education held at the OAU Campus, Ile-Ife... recently

Over 52 Senior NNPC Staff Affected in Fresh Redeployment Oil rebounds from three-week low Emmanuel Addeh in Abuja The Nigerian National Petroleum Corporation (NNPC) has continued its ongoing major reshuffle of key managerial positions in the national oil company, a move that has affected at least 52 officials in the latest list sighted by THISDAY yesterday. On Monday night, the corporation announced the redeployment of Mr. Billy Okoye, who has now been appointed the new Group Executive Director, Ventures & Business Development as

well as Mrs. Aisha AhmaduKatagum, who was promoted to the position of Group Executive Director, Corporate Services. In addition, a former Chief Operating Officer, Business and Ventures Development, Mr. Adeyemi Adetunji, became the new Group Executive Director, Downstream, while a former Chief Operating Officer, Corporate Services, Mr. Mohammed Ahmed, was selected the Group Executive Director, Gas and Power. The repositioning also saw the disengagement of

Mr. Yusuf Usman, formerly Chief Operating Officer, Gas and Power, while Mr. Garba Deen Muhammad, will take over from Dr Kennie Obateru as the Group General Manager, Group Public Affairs Division of the corporation. But in the new list, the General Manager, Planning, National Petroleum Investment Management Services (NAPIMS), Marcel Ogbonna has now been promoted as the new Managing Director, Integrated Data Services Limited (IDSL), while erstwhile General Manager, Financial

Reporting, Ayuba Ashu, has been moved to Accounts as the new Group General Manager. Former GM, Finance, Ibrahim Sanda, in the latest internal movement, is now the GGM, Finance; Opusunju Jestus, GM, Methods and Procedures, has been moved to NNPC Pensions as MD, while Yahaya Hamza, former General Manager in the Human Resources Department, is now MD NNPC Properties. Executive Director, Power Investment, Lawal Jibrin , has been moved to the Renewable Energy Department as GGM,

while Yunusa Jibril, formerly GM services at NAPIMS, has been transferred to the Human Resources Department as GGM. Ezeala Chizom moves to Nigerian Gas Marketing Company (NGMC) as MD; Sophia Apunegbe ex-GM Contracts and Procurement is now GGM, Supply Chain Management and Talson Nungdang, formerly of Greenfield Refineries and Petrochemicals has been moved up as the GGM. Ali Zara is new MD, Nigerian Petroleum Development Company (NPDC), moving

from NAPIMS; Silas Chimmy, ex-Manager Technical Learning, is now GM, Commercial and Business Development, Cyprian Uchenna moves to Construction as GM, while Mijinyawa Muhammad, is new ED, Finance and Accounts at the NPDC. Zakariya Bitrus is new GM, Gas Development; Kabo Mohammed is now GM, Services, NAPIMS, Kigo Abubakar is new ED, Services , National Engineering and Technical Company Limited (NETCO), while Igbokwe Emmanuel moves to Nigerian Gas Company (NGC) as GM.

NiMet to Provide Marine Forecast for Ocean Going Vessels, Earmarks N1bn for Equipment Kasim Sumaina in Abuja In a bid to expand services to non-aviation sectors, the Nigerian Meteorological Agency (NiMet), has hinted that its set to provide marine forecast for ocean going vessels. To this end, the agency revealed that it has set aside N1 billion Naira to purchase equipment for the project. It added that Nigeria has more than 800km stretch of coastline that is busy with shipping activities. The Director-General,

NiMet, Professor Mansur Matazu made the disclosure while speaking at the African Swift Testbed-3 Workshop on Nowcasting and Users Co-production, in Abuja. According to Matazu, “the

N1 billion for marine forecast facilities was based on approvals of the Federal Ministry of Aviation because the agency is under the Ministry and had been mandated to extend its functions to the marine sector.

So as part of our establishment Act, we were mandated to provide marine forecast for ocean going vessels.” The agency, he added, needs to do a lot of installations, especially on high sensitive

instruments to monitor the weather conditions around the coasts. He said: “This is a very capital intensive programme that involves the purchase and installation of tidal gauge and

other marine equipment. This is just the first phase and we are going to expand by next year. Also, I must state here that this is based on the huge support we are getting from the Federal Ministry of Aviation.”

TOTAL, SEPLAT, OTHERS REVENUE HITS N500.93BN IN H1 2021 AMIDST HIGHER MARGIN IN PRODUCTS SALES driven by 53.2 per cent increase in revenue to N36.7billion from N23.99billion reported in H1 2020. In his reaction, the MD/ CEO Enterprise Stockbrokers Plc, Rotimi Fakayejo attributed the Oil & Gas performance

to higher margin in crude oil products, stressing that the ease of movement also contributed to revenue and profit. According to him, “These companies reported increase in revenue due to higher margin in products sale this year. The

restriction of movement eroded their revenue last year but with the ease on COVID-19 lockdown, they were able to grow revenue that translates into profit.” He maintained that investors can always consider buying

Total Nigeria shares over its intrinsic fundamentals on the NGX. In his words, “Total Nigeria is one of the most reliable Oil & gas stock on NGX and the company by year end is going to have EPS of N35.00. The

company’s payout is always 70 to 80 per cent every year and they may still pay dividend of N20.00 at the end of 2021 financial year. It makes a lot of sense for investors to buy Total Nigeria and Seplat Petroleum shares on NGX.”

FIXED INCOME, FX MARKETS SUSTAINS MOMENTUM RECORDING N15.31TRN, $10.12BN TURNOVER IN ONE MONTH

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

(60M4) contract, NGUS JUN 24, 2026 was introduced at a Futures price of $/N613.76. The total NV of open OTC FX Futures contracts as at June 30, 2021 stood at circa (c.) $4.25bn5 representing a MoM increase of 7.32 per cent ($0.29billion) from its value as at May 31, 2021, and a reversal in the downward trend witnessed since May 2020, “it stated. On the currency front, the report revealed that the Naira depreciated against the U.S. Dollar at the I&E FX Window, losing 0.01 per cent ($/N0.03) to close at an average of $/ N411.30 in June 2021 from $/ N411.27 recorded in May 2021, “whilst trading within a range of $/N410.00 and $/N412.00 in June 2021.” Similarly, it said the Naira depreciated against the U.S. Dollar in the parallel market, losing 2.94 per cent ($/N14.29) to close at

an average of $/N500.57 in June 2021 from $/N486.28 recorded in May 2021. “Consequently, the average spread between the exchange rates in the formal (I&E FX Window) and unregulated (parallel) FX markets increased by $/N14.26 to $/N89.27 in June 2021. At the I&E FX Window, the Naira depreciated against the U.S. Dollar, losing 0.01 per cent ($/N0.03) to close at an average of $/N411.30 in June 2021 from $/N411.27 recorded in May 2021 whilst trading within a range of $/N410.00 and $/ N412.00 in June 2021 “Similarly, the Naira depreciated against the U.S. Dollar in the parallel market, losing 2.94 per cent ($/N14.29) to close at an average of $/N500.57 in June 2021 from $/N486.28 recorded in May 2021. Consequently, the average spread between the ex-

Source: FMDQ change rates in the formal (I&E FX Window) and unregulated (parallel) FX markets increased by $/N14.26 to $/N89.27 in June 2021.” The report added that treasury bills were the most traded sovereign debt securities in the month under review, accounting for 28.71 per cent (N0.79trillion) of the total sovereign Fixed Income market

turnover, while FGN Bonds with term-to-maturity of 20Y or higher were the most actively traded long-term11 sovereign debt securities, accounting for 23.00 per cent (N0.63trillion) of the total sovereign Fixed Income market turnover. It added, “Total turnover in the money market segment increased MoM by 100.35 per cent (N2.84trn) to N5.67trn in

June 2021. This was driven by the MoM increase in Repos/Buybacks turnover and Unsecured Placements/Takings by 102.63 per cent (N2.73trillion) and 58.82 per cent (N0.10trillion) respectively. The average OBB rate (secured lending rate) and O/N rate increased by 1.40ppts and 1.31ppts respectively, to close at 16.71 per cent and 17.19 per cent in June 2021.”

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

BUSINESSWORLD

NEWS

Analysts: Lagos Major Beneﬁciary of Rivers Court Ruling on VAT, Responsible for 70% of Collection Across Nigeria Nume Ekeghe Following the ruling by a Federal High Court sitting in Port Harcourt, Rivers State, stating that Rivers State Government should collect Valued Added Tax (VAT) and Personal Income Tax (PIT), analysts have noted that Lagos would be the major beneficial of this ruling. Fiscal Policy Partner and Africa Tax Leader at PwC Mr. Taiwo Oyedele, in an interview with THISDAY, noted that the practice of the federal government collecting VAT and PIT on behalf of states has been an ongoing practice since states didn’t have the capacity to collect personally. However, he pointed out that with the complexities involved in collecting VAT state by state, the FG will

allow the ruling to stand. Oyedele added that if states collect personally, Lagos state would be the major beneficiary of the ruling adding that 70 per cent of VAT collected nationwide are of Lagos origin. He said: “Based on the constitution, consumption tax belongs to the states and I don’t think that anyone is debating that. So, what happened in 1993 when the VAT law was introduced was the understanding that the Federal Government (FG) had the capacity to collect. At the time, even Lagos state did not have the capacity to collect. So, FG was only collecting on behalf of the state and then keeping a percentage of the state to cover the cost of collecting. So, we can debate on whether the percent is high or not and that is why

they only keep 15 per cent and 85 per cent goes to the states and local governments.” “We have also had different cases in the past including up to the Supreme Court which was between Lagos state and Federal Inland Revenue Service (FIRS) and it was a debate between VAT and consumption tax. And the Supreme Court said VAT law has covered the fees and therefore Lagos state should not introduce consumption tax. Now even though this is not the same, but they are related. I”f you think of a law like personal income tax, it is a state tax and no one is debating it with them to collect it but the law was centrally enacted. So, a way, I see VAT playing out the same way. Centrally enacted maybe at some point states would

collect it themselves but at the moment, FIRS is collecting on their behalf, ”he said. At the moment, he said the hopeful winner from the latest development would be Lagos state. “I don’t think any other state would make more money as of today from collecting their VAT than what they are sharing from the Federation. The reason is very simply, there is customs VAT that is collected by customs on behalf of FIRS, and that accounts for somewhere around 12 to 15 percent of VAT and that is a VAT no state would be able to lay claims too. Also, maybe 60 to 70 per cent of the nation’s VAT is generated in Lagos. This means all the other states are barely contributing 30 per cent.” He noted that if this enacted

some states would then state to reconsider adjusting VAT collection as well as ask companies to register operations in different, which in entirety would be cumbersome He said: “This is a judgment of the Federal High Court and I don’t think any state would want to implement it. You expect there would be an appeal to court of appeal and then Supreme Court. This is a major issue so I don’t think anyone would allow it stand at this level were it is. So, the reality is that I would not be implemented now, it would still be under appeal and I don’t know how many more years that would take.” “Today, VAT is somewhere around N1.5 trillion TO N1.8 trillion a year. About 12 to 15 per cent of that is collected at

the border by customs and no state can collect at the border, it still has to be the federal government. And VAT you would get from the border from imports is not very different from what is gotten form the VAT pool. So, the impact on federal government would be negligible and Lagos state would make five times what they are getting from VAT and they would be the winner from this. Many states from the North would have almost nothing to collect. Some sates like Rivers, Ogun maybe they would be balanced because they have g good number of VAT within their states but more than 30 of the 36 states would be far worse off if the judgment is implemented.”

Inyang-eyen: Gov Emmanuel Industrial Programmes Foundation forViable State Okon Bassey in Uyo Akwa Ibom State Government has said the attraction of investors, establishment of industries and diversification of the economy are his key strategies to prepare the state to be economically viable and independent of allocation from the government at center. The Chief of Staff to Akwa Ibom State Governor, Ephraim Inyang-eyen stated this Monday while fielding questions from Journalists in Uyo, the state capital.

Inyang-eyen said with many industries already built and others undergoing either technical or structural procedures, Governor Udom Emmanuel ould have transformed the economy of the state from a dependent one to a manufacturing and viable economy before leaving office. He said though there were challenges because of the non industrial background and orientation of the state, the Governor has been able to revitilize the economy, more than what his predecessors did since the state

was created. “I think in all sincerity, Governor Emmanuel came with a strong desire to take the state away from central allocation, civil service, sharing of the money to a sector that is independent of whether there is allocation or not in Abuja because we may get to somewhere in the future where there will be no allocations from Abuja again. “Our state before 2015 was basically waiting to receive money from Abuja at the end of every month. The private sector was

dead before Governor Emmanuel arrived but today I can say clearly that this has changed, “he said. “Laying foundation for beginning new thing is never easy, it is always the most difficult of any project. So the Governor came to lay a solid and stable foundation to begin industrialization in the state. Before you get people to invest in a place they have not been investing before it takes a lot of energy. To have brought the syringe that is supplying syringe to all parts of the world, to get the flour Mill and the Coconut

Refinery took a lot of effort. “For instance the coconut project had challenges right from planting the coconut up till the time we were ready to install the equipments and we are still on it. Now building this foundation takes time but God helping the Governor to accomplish most of the foundational structures he wants to do in the private sector, the state would have been transformed and so whoever God chooses to become the next Governor will meet a private sector that is active and running.

“What makes the difference between every other state and Lagos State is not the public sector. Lagos probably by allocation gets less than Akwa Ibom but their private sector is so solid and strong that their Internally Generated Revenue is in tens of Billions every month, “he stated. “So I think that Governor Emmanuel has laid a solid foundation to activate for the first time the private sector in Akwa Ibom. Like the pencil factory, it took off, wobbled and has since stabilized.

WEDNESDAY AUGUST 11, 2021 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

FG’s Debt Obligation to CBN The federal government’s borrowing binge is pushing the country towards insolvency, argues Ndubuisi Francis

espite government’s argument to the contrary, there are increasing fears that its borrowing binge is pushing the country towards insolvency, or at best, a debt trap. When confronted with the debate over the burgeoning public debt profile, the federal government has always taken refuge in the alibi that Nigeria is still below the global threshold in the area of borrowing. While Nigeria’s debt-to-gross domestic product (GDP) is at about 22 per cent, which is below the stipulated 58 per cent global ceiling, it is worrisome that as at March 31, 2021, public debt stood at N33.26 trillion. Interestingly, the debt of some states were not captured in the latest official figures, which the Debt Management Office (DMO) released at the end of March. But while concerns continue to mount over the debt quagmire, one of the disturbing signals is the federal government’s $25 billion (about N10 trillion) loans or overdraft from the Central Bank of Nigeria (CBN). When the debt of some states that were not added to the last figures released by the DMO and the $25 billion (N10 trillion) overdraft secured under the CBN Ways and Means window are brought into the mix, the country might be heading for a more complex debt crisis.

CBN ACT Section 38(1) of the CBN Act allows the federal government to borrow from the apex bank to finance budget deficit. It allows the bank to provide financing of fiscal deficits not above five per cent of the government’s previous year’s revenues. However, the CBN, via its Ways and Means window advanced a total of N2.8 trillion in support loans to the federal government in 2020 as the latter could not meet its revenue targets due to the impact of the dip in oil prices and COVID-19 pandemic. During the public presentation of the 2021 budget highlights, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed disclosed that the apex bank gave financial support to the federal government to the extent of N2.8 trillion to fund the budget expenditure. Of the 2020 budget deficit of N6.1 trillion, N2 trillion was from domestic sources and N1.2 trillion from foreign borrowing, while the CBN’s Ways and Means catered for the shortfall. Simply put, the CBN loans/overdraft totaling N2.86 trillion to the federal government, which is 47 per cent of the government’s

2019 revenues of N4.5 trillion runs foul of the five per cent threshold permitted by the CBN Act. Besides what is considered a violation of the five per cent threshold, the provision also requires that the loans are repaid at the end of every year, failure which the CBN will no longer be able to lend to the government in the following year. CBN’s monetary account is currently put at over $25 billion or about N10 trillion, indicating that the Federal Government of Nigeria (FGN) is not meeting its obligations as required by the apex bank’s Act.

FGN SEEKS SOFT LANDING The federal government is planning to securitise the debt it owes the CBN. In essence, it intends allow the debt it owes the apex bank to be offered as bonds to the investing public while the bank recovers its money from the investors. Since the FGN unveiled the move to securitise the loans from the CBN, various reactions have trailed the plan.

ANALYSTS VIEW The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit, asking the court “to compel the federal government to disclose details of a $25 billion overdraft obtained from the CBN. SERAP also asked the court to compel the government to disclose spending details of the overdrafts and loans obtained from the apex bank since May 29, 2015. The group’s suit was embedded in its Freedom of Information (FoI) request to President Muhammadu Buhari to disclose the overdraft and repayment plan details. According to SERAP, ensuring transparency and accountability in the spending of CBN overdrafts and loans would promote prudence in debt management, reduce any risks of corruption and mismanagement, and help the government to avoid the pitfalls of excessive debt. It argued: “Transparency and accountability in the spending of CBN overdrafts would also ensure that public funds are properly spent, reduce the level of public debt, and improve the ability of the government to invest in essential public goods and services, such as quality education, healthcare, and clean water,” SERAP said in a statement. “It is the primary responsibility of the government to ensure public access to

these services in order to lift millions of Nigerians out of poverty and to achieve the Sustainable Development Goals by 2030. “Transparency and accountability in the spending of CBN overdrafts and loans would also improve the ability of the government to effectively respond to the COVID-19 crisis. This means that the government would not have to choose between saving lives or making debt payments. “The recent overdraft of $25.6bn (about N9.7trn) reportedly obtained from the CBN would appear to be above the five-percent limit of the actual revenue of the Federal Government for 2020, that is, N3.9trn, prescribed by Section 38(2) of the CBN Act 2007. SERAP notes that five-percent of N3.9trn is N197bn.’ SERAP explained that while Section 38(1) of the CBN Act allows the Bank to grant overdrafts to the federal government to address any temporary deficiency of budget revenue, sub-section 2 provides that any outstanding overdraft ‘shall not exceed five-per cent of the previous year’s actual revenue of the federal government. It also noted that Section 38(3) requires all overdrafts to ‘be repaid as soon as possible and by the end of the financial year in which the overdrafts are granted. SERAP joined the Attorney General of the Federation and Minister of Justice Abubakar Malami; the Minister of Finance, Budge and National Planning, Zainab Ahmed, and tbe CBN Governor, Godwin Emefiele in the suit. The group said the court action was in the public interest and in line with the Nigerian Constitution, the Freedom of Information Act, the Fiscal Responsibility Act, the Central Bank Act; the Debt Management Office Act; and the country’s international legal obligations. For the National President of the Capital Market Academics of Nigeria, Prof. Uche Uwaleke, much as he would not support the idea of CBN frequent resort to Ways and Means given its negative implications for inflation and exchange rates, it must be borne in mind that one of the functions of the CBN is to act as lender of last resort. Uwaleke, a former Commissioner for Finance in Imo State explained that what this simply means is that the apex Bank is expected to come to the rescue of the government whenever it is in serious financial difficulty. He recalled that the Nigerian economy

suffered recession in 2016, which lasted five consecutive quarters largely on account of sudden collapse in oil price, adding that another economic downturn was also witnessed in 2020 due to the negative impact of COVID’19 pandemic. “In these circumstances, it would have been insensitive on the part of the CBN not to bail out the government in line with its role as banker to the government and lender of last resort. “The reality is that the give per cen ceiling on previous year’s IGR effort with regard to CBN Ways and Means never envisaged the situation the economy found itself in the last few years. “I think the idea of scuritising these loans by the CBN will enable them to be restructured into long term tradable obligations which allow the government sufficient time to liquidate them against the backdrop of the requirement that any loan by the CBN must be repaid before any new one is extended.” In his intervention, the founder and presidential candidate of the Abundant Nigeria Renewal Party in the 2019 general elections, Mr. Tope Fashua maintained that, going forward, the sanctity of the provisions of the CBN Act should be upheld, while the excuse of COVID-19 should be discarded. He said: “Going forward, I think the excuse of COVID should recede into the distance and we should be able to go back to following the Act which only allows 5 per cent of previous year’s revenue, and of course what that does is that it also puts government under pressure to increase its revenue base, and in doing that, everyone is involved” Explaining that the move to securitise the debts owed to the CBN was in order, Fasua said: “By securitising, I believe what they want to do is to package the borrowings as bonds and sell to the investing public in order to get off the balance sheet of the CBN. This will just translate into bonds as it were in the hands of people and spread out over a period of time, perhaps into the long term, so that the government can find a way of managing it. “Of course, it is not good for the government to have over-borrowed from the central bank. However, the justification for some of these could be the Covid period.... However, the system is pretty inefficient in Nigeria and a lot of the interventions of the government have not had the impact that they were supposed to have. We’re not even seeing the multiplier effect in all the industries that the government has intervened in. We are hoping that we continue to get more accountable in Nigeria through the efforts of the media and those who speak up.”

WEDNESDAY AUGUST 11, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

BUSINESSWORLD

REAL ESTATE

Property Devt and Purple-Sukuk, A Match Made in Heaven Since it landed in Nigeria with its maiden issue of N10 billion by the Osun State Government in 2013, Sukuk Bonds have found its niche in the Nigerian finance system as a strong means of financing infrastructure. Recently, Purple Group, an active player in the nation’s Real Estate sector, announced that it is issuing a bond to fund its property development in the Lagos metropolis. From the look of it, the relationship will lead to the completion of ongoing construction and the creation of its Purple Urban residences in the Lekki area of Lagos State. Chris Paul reports

hen Sukuk Bonds first made its landing in secular Nigeria, it caused fierce religious controversy; with many Nigerians, especially, in the South believing it is another ploy by the North to Islamise the finance sector of the country. But when some states in the South began taking the Islamic Finance certificate, it looked like the Sukuk pudding may just be good for the eating. Osun State led the way to the Sukuk kitchen and then a South Eastern State also had a bite of the pie. They saw it was good and ever since the Sukuk story has been sweet. Its latest bond issue raise by the Purple Group has further deepened the roots of the Sukuk flower in the enhancement and beautification of the Nigerian property development space. Similar to a bond in Western finance, Sukuk is an Islamic financial certificate that complies with Islamic religious law commonly known as Sharia. Since the traditional Western interest-paying bond structure is not permissible, the issuer of a sukuk essentially sells an investor group a certificate, and then uses the proceeds to purchase an asset that the investor group has direct partial ownership interest in. The issuer must also make a contractual promise to buy back the bond at a future date at par value. It is a sharia-compliant bond-like instruments used in Islamic finance and it involves a direct asset ownership interest, while bonds are indirect interest-bearing debt obligations. Although, both sukuk and bonds provide investors with payment streams, income derived from a sukuk cannot be speculative; because that would make it no longer halal. Sukuk have become extremely popular since 2000 with the rise of Islamic finance, when the first such products were issued in Malaysia; followed by Bahrain in 2001. In today’s world, the Islamic Finance instrument is used by Islamic corporations and state-run organizations alike around the globe, taking up an increasing share of the global fixed-income market. Islamic law prohibits what’s known as “riba,” or what we understand as “interest” in the West. Traditional Western debt instruments, therefore, cannot be used as viable investment vehicles or ways to raise capital for a business. To circumvent this, sukuk were created in order to link the returns

and cash flows of debt financing to a specific asset being purchased, effectively distributing the benefits of that asset. This allows investors to work around the prohibition outlined under Sharia and still receive the benefits of debt financing. However, because of the way that sukuk are structured, financing can only be raised for identifiable assets. Representing aggregate and undivided shares of ownership in a tangible asset which relates to a specific project or a specific investment activity, an investor in the Bond, thus, does not own a debt obligation owed by the bond issuer; rather, he or she owns a piece of the asset that is linked to the investment. In other words, unlike bond holders, sukuk holders receive a portion of the earnings generated by the associated asset. Are there similarities or differences between Sukuk and conventional bonds? In terms of similarities, both provide investors with payment streams. They are issued to investors and both may be used to raise capital for a firm. Considered to be safer investments than equities, both also have their differences; while Sukuk investors receive profit generated by the underlying asset on a periodic basis, bond investors receive periodic interest payments. While Sukuk involves asset ownership, bonds are debt obligations. Whereas bond yield is strictly due to its interest rate, the more the asset backing a sukuk appreciates, the more the sukuk appreciates. Assets that back sukuk are halal whereas bonds are often ribaand may finance non sharia compliant businesses or fuel speculation. While a bond’s price is largely determined by its credit rating, Sukuk valuation is based on the value of the assets backing them. Trust Certificates is the most common type of a sukuk and it is also governed by Western law; however, the structure of this type of sukuk is more nuanced. The organization raising funds first creates a special purpose vehicle (SPV). The SPV then issues trust certificates to qualified investors and puts the proceeds of the investments toward a funding agreement with the issuing organization. In return, the investors earn a portion of the profits linked to the asset.

These are the principles governing the Sukuk-Purple bond; as it were, concerning redefining the dynamics of property development in Nigeria. But then, this is no Sukuk master class. This piece is on how a fast-,growing property development firm got the attention of the Islamic Finance instrument, the advancement of the goal to bridge the property deficiency gap in Lagos state and bring innovative residential concept to property development in Nigeria. Incorporated as a limited liability company in 2015 Purple Real Estate Development Company (PREDCo) commenced operations on September 2015; and it is a wholly-owned subsidiary of Purple Real Estate Income Limited. The principal activities of PREDCO include the development of residential and commercial real estate with the aim of outright sales or lease of properties to meet the needs of individuals and corporate bodies. Leveraging on its market knowledge and expertise as well as its network to attract, invest and deliver sound positive alpha returns to its investors, PREDCO focuses on development/growth opportunities and has equitable board/project involvement. It has consistently raised funds from HNI’s and Institutions. With regards to real estate, Purple is looking to build on the success of its flagship mixed-use project, the Maryland Mall and other residential projects and aims to grow its real estate footprint by delivering 3- 5 similar assets within the next five years and up to 1000 residential units. Some of its major existing projects include BishopsGateresidences and Redworth Terraces at Ikate Elegushi at Lekki; and Purple Maryland, its work, shop, eat, play and drink retail Mall experiment. It has secured locations for delivery under a staggered approach for: Lekki Phase 1 - 185 units of 3-bedroom, 4-bedroom and 5-bedroom apartments Maryland (Purple Macro) – 130 units of 1-bedroom, 2-bedroom and 3-bedroom. While other retail and mixed use centres are all under Pre-development phase, construction has commenced on Purple Lekki.

Between 2018 and 2019, PREDCO had concluded the sale of its first two projects - Bishopsgate Residences and RedworthTerraces and also the development manager for the Group’s flagship project Purple Maryland and Purple Lekki, PREDCO derives both management and agency fees from its activities. Nigeria’s real estate and construction sector is one of the key sectors of the economy as the 6th largest contributor to GDP and accounting for c. 9.8% of GDP in 2019. The recent growth in the construction sector has largely been driven by the increase in foreign direct investments and local private capital in the economy as well as increased infrastructural development, particularly in Lagos State. The sector witnessed a slowdown in growth in 2016, as it was one of the most negatively impacted sectors during the nationwide recession With improving macroeconomic fundamentals, the real estate sector is expected to return to pre-recession growth levels. Following the establishment of the Nigerian Mortgage Refinance Company (NMRC) with the purpose of promoting home ownership while deepening the primary and secondary mortgage markets, credit to the real estate sector is expected to increase. In addition, the Central Bank of Nigeria (CBN) new policy direction instructing commercial banks to increase lending at lower rates to stimulate aggressive growth of the economy is one of the major government economic and social policies that is expected to attract investment into the real estate development sector. In Lagos and Abuja, which are prime locations and key cities in Nigeria’s real estate market, there is a high demand for commercial buildings and residential apartments. This is the turf the Purple group has continued to dominate in its stride with its mix-use architectural masterpieces. With this sukuk energy, PREDCO is about to soar beyond the height of the eagle in the sky and may soon become the prime property development driver of the Nigerian State with its lofty goal of adding 1000 keys to the residential real estate market in Lagos State. No doubt, this Islamic Finance instrument will further fire the zest of the Purple group to continue to capture the minds and temperament of today’s new tenants and landlords.

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

BUSINESSWORLD

PERSPECTIVE

Investing in Lubricants Production, Packaging for Cash Godwin Uba

he impact of COVID-19 Pandemic and resultant Lockdown on the Nigerian Economy and the entire world has changed the types and nature of investments to embark upon. We have taken time to look at those viable and profitable investments to make after the COVID-19 Pandemic and lockdowns in Nigeria. One of the sectors to invest into is the oil and gas sector. Under this sector we see investing into production of lubricant as a very lucrative one. The importance of engine oil cannot be over emphasized. Oil is the life of any engine. Its main role is to provide lubrication to moving parts and transfer heat. It keeps the moving parts from grinding against each other causing wear and damage. The demand for engine oil in Nigeria is from vehicle owners, power generator owners, industries, tricycles and motorcyclists. Engine oil is used by both petrol and diesel engine oil, though in different grades. The petrol engine oil are used in serving passenger car (light cars) while diesel engine oil are used in servicing generators (small and big) and also for heavy cars (diesel cars). There are still grades of diesel engine oil (mono grade and multi grade) mono grades are commonly used in Nigeria, although people are now beginning to appreciate multi grades. The viscosity of the oil is a function of the grade. Statistics available confirms that the total world demand for lubricating oils is about 50 billion liters per annum (60 per cent automotive, 40 per cent industrial). However, the industrial lubricants account for more than 70 per cent of the total gross earnings and profit margin globally. In Africa, Nigeria is said to be the third largest consumer of lubricating oils amounting to about 700 million liters (1 per cent of the world’s total demand), with a gross earnings of N150 billion in 2013 and over N450.37Billion as the end of Q1, 2021. The cumulative assets base of the blending plants is about N20 billion, generating about N45 billion profit margins in 2013 and N120billion, generating about 300billion profit margin in the Q1, 2021. Furthermore, it has been estimated that 75 per cent of the total need of lubricating oils is produced locally while the remaining 25 per cent are specialized products imported by the marketing companies into the country. The Lubricant Oil Manufacturing industry produces petroleum-based lubricant and grease products, such

Lubricant oil blending ﬁlling plant as blended motor oils, brake-fluids, transmission fluids and lubricating machinery grease. The industry is heavily dependent on crude oil prices. There are four (4) types of lubricants: Oil, Grease, Penetrating Lubricants, and Dry Lubricants. The two (2) most common lubricants dealing with on daily are oil and grease. Major products of oil refineries include asphalt, liquefied petroleum gas, diesel fuel, lubricating oils, fuel oils, gasoline, kerosene, paraffin wax, tar, petrochemicals. Lubricants (engine oil) are products of petroleum refinery. The raw materials required for the production of Lubricants are products of oil refineries, which are readily available in Nigeria. It can be sourced from virgin material or through recycling. The Lube market consists of two major segments, automotive and industrial, having a market share of 70 per cent and 30 per cent, respectively. Most of the competition is crowding into the first category. In the automotive segment, while cars, Generators and two or three wheelers segment accounts for 65 per cent of the market, diesel operated engines; trucks and other heavy vehicles have the bulk share of 35 per cent. The lubricating oil and grease are one of the most

ing plant after which additives such as detergents, anti-corrosive chemicals, dispersants are added. Heating and agitation simultaneously take place to achieve blending of the oil with the chemicals. After blending, the product is allowed to cool down before being filled into various containers such as drums and kegs. The required equipment and machines is Lube blending machine, oil filling machine, cap screwing machine, conveyor, and farm tank with total of 20,000liters, standby generator, delivery vans, interconnecting pipelines and finance. The plant will cost about N38.5 million excluding land and building, but including machinery, generator and working capital requirement, which includes base oil stock. There some legal and operational licenses that supposed to be obtained for smooth operations. All formulations and specifications of products to be manufactured should be forwarded to the Standards Organization of Nigeria (SON) for consideration and approval. Samples of all blended batches should be retained for a period of not less than three months before disposal PHOTO: ARSLAN ENGINERY and be made available on demand for any desired quality verification test within this mandatory period of storage. important sectors of the petrochemical industry. Upon completion of the construction of blendThe size of lubricating oil and grease market in ing or recycling plant, an application for license to Nigeria is estimated at over N900 billion and operate the plant should be forwarded to the Departit is growing at around 3.5 per cent annually. ment of Petroleum Resources (DPR). Details on all The choice of site for this project was mainly legal and operational requirements will be given. consumer driven. The major consumers of this product are to the extent of 80 per cent plus, resident IMPLEMENTATIONS in the urban areas and mostly health sector. Besides, the fundamental business infrastructures are more For details on comprehensive & Bankable feasibility readily available in the urban areas. studies, Business Plan; procurement & installations of Such facilities as electricity, good road system, strong and durable machines, internationally acceptable experience manpower etc are better established packaging methods, Export markets and funding arin the urban areas. Though one can locate the rangements and Recruitment & Training of manpower project at any parts of the country, we advise that please contact the writer. We assist in reviving of death it is located close the market and raw materials. manufacturing/ industrial projects. Some prospective The project can take off in a land space of two plots investors would prefer to go to internet and copy preof land. The factory building must have five major feasibility reports done in India or other parts of the rooms namely Cloak Room, Packaging Material world. That type of report can never lead you in terms Room, Production Room, Finished Product Room, of knowledge and sourcing of your funds. The reports Raw Material Room. are not in the business environment with Nigeria, so The factory will be located where there is it could be misleading. no human residence within the compound. The production process for engine oil involves t(PEXJO 6CB JT UIF -FBE "OBMZTUT BU (MPCBM procurement of base oil from refineries; the 5SVTU $POTVMUJOH JO -BHPT procured base oil is now filled into the blend-

WEDNESDAY AUGUST 11, 2021 ˾ T H I S D AY

BUSINESSWORLD

INSURANCE

Understanding Air Travellers’ Rights, Claims Limit Ebere Nwoji writes on the risky nature of air transport, enormity of claims by air passengers and behavior of both airline and insurance operators in accident cases and calls for the need to sensitise passengers on their rights and the limit of their claims when crash occurs

n the past seven months of this year, 2021, precisely the months of February, May and July, Nigeria’s air space has witnessed three major air mishaps involving military aircraft that claimed eminent people’s lives including the former Chief of Army Staff, Lieutenant-General Ibrahim Attahiru who died at age 54 in a fatal plane crash which occurred on May 21,2021,four months after his appointment. Attahiru, died in the crash along 10 others including top military officers, aids and crew. On February 22, Nigerian military plane, King Air350, took off from Abuja Airport but reported engine failure, according to media reports, while trying to return back to the airport on account of the failure, it exploded killing all seven people on board. The two fatal crashes, if not that they involved military aircraft, would have required huge compensations in form of claims from insurance companies because of the status of the victims and the fact that aviation insurance is such a compulsory requirement that regulators hardly wink at in the discharge of their duties. But military aircraft are not handled by insurance companies; rather, government takes care of the dependents of the deceased. But this has not and cannot immune insurance operators from huge claims that emanate when commercial aircraft is involved in a crash. For the commercial aircraft, claims from air crash is so enormous and often very controversial that it rakes up emotions and endangers the goodwill of the insurance companies involved if the compensation for the relatives of the victims of the accident is not well managed. The claims are so huge that if the business is not adequately spread by the lead insurer among other insurers, the claim is capable of bringing down the insurance company, not withstanding its financial strength. Where the victims are not adequately compensated, the criticism from the public is also capable of sending the airline operator out of business.

EXPECTATIONS FROM VICTIMS

Indeed, aviation insurance is one class of insurance business that has so much exposed the insurance sector and its operators to public criticism erroneously or constructively. This is because aviation risk, when it occurred, attracts much public concern and sympathy. The public could be curious and anxious to know the outcome. The empathy it attracts

is overwhelming. It appeals to people’s emotion who would want to know if the relatives of the victims of the crash are well compensated for the loss of the lives of their loved ones. In the case of fatal accidents, the relatives of deceased often inundate the airline operator and its insurers with huge claim filings. Both the airline operator and the accident victims’ expectations on insurance company concerned are always very high. In the past, there has not been accident claim in Nigeria that was amicably settled. The settlements were usually dogged by controversy because of the high expectation of the relatives of the victims of the crash. But there are standard compensation enshrined in the International Civil Aviation Organisation (ICAO) regulations. But sometimes some relatives of the crash victims sue to kick against the claim, considered to be less than what could compensate for the death of their loved ones.

REGULATION ON CLAIMS AND TRAVELLERS IGNORANCE

Experts in aviation business said as emotional as any air mishap is, there are both local and international regulations that guide aviation insurance contract just like every other contract and these regulations cannot be violated in demanding for or paying for damages incurred during the course of air trip. They noted that contrary to this, most times, when there is air crash, the passengers are ignorant of limit of their claims and quantum of claims, which the premium they paid can give to them. Similarly, industry observers said in most cases, the insurance companies, take advantage of the ignorance of the passengers on their claims right to underpay them perhaps having charged very low premium from the airline operator in order to grab the business from other insurers racing for the same business. According to the observers, the problem stems from the fact that air passengers, neglect reading these aviation insurance rules and regulations written at the back of their passenger tickets and the result is that when the unforeseen happens, argument follows either because the victims or their relatives in case of death are making wrong claims or some mischievous airline operators and

their insurers want to take advantage of ignorance of the victims to short pay their claims.

INSURERS’ PERSPECTIVE

Insurance experts said aviation insurance is one of the technical classes of insurance business. According to them, it is so technical that insurance managers themselves regard it as not for all comers in the business and that requires well experienced, highly technical and thorough breed professionals who specialise in the business to handle it. According to them, insurance claims and compensation is part of aviation business, which is mainly international in nature. Aviation insurance is effected in the international market more than any other branch of insurance. “This is why knowledge of laws governing air transport and aviation insurance in various countries both locally (Nigeria) and internationally is important to keep abreast of changes in this class of business. “People fly both locally and internationally and therefore the question now is in the event of loss or death of a passenger, which law will be applicable for purposes of jurisdiction,” one of the insurance experts who spoke to THISDAY asked. They noted that since after the First World War, there was very rapid advancement in aeronautical engineering. According to them, today, the size and type of aircraft in operation is unimaginable. They are of the view that the recent advances in aircraft manufactured today in terms of number of passengers, load carried and distances covered when compared to some 20 years ago is also unbelievable. This means that these aircraft are highly valued and therefore value at risk is when accident occurs is quite high. The experts said there is therefore need for an insurer with a lot of financial strength to play in this class of business adding that even locally, strict regulations by the insurance regulator is in place for any operator that wants to participate in aviation business.

ENFORCEMENT

Here in Nigeria, among all the classes of insurance that are made compulsory for the protection of the third party’s interest, enforcement of aviation third party liability insurance is much more serious than any

other of its sort. The regulators are alive to their duties in this regard while government is much more interested in seeing the law obeyed to the last letter. This is because of risky nature of air transport and high premium associated with air travel, which is considered the safest means of moving from one place to another. Industry observers noted that in Nigeria, after the tragic accidents involving two major passenger bound aircraft in 2005 and 2006, aviation industry regulators became much more critical in assessing insurance status of every aircraft that flies out of Nigerian airports. They said the situation became tougher since January 1, 2013, when the National Insurance Commission (NAICOM) began enforcement of ‘no premium no cover’ policy among insurance underwriters.

AIRLINE OPERATORS’ EFFORT

These have put airline operators in tight corner insurance in terms of obtaining insurance cover for their equipment. Recent observations show that currently due to huge premium involved in aviation insurance and refusal by underwriters to grant cover on credit, airline operators buy their insurance cover monthly instead of annually. This has exposed them to risk of being grounded by their regulators once there is little mistake or omission in their aviation insurance. Industry observers noted that this risk was almost suffered by Arik Air few years back when on account of a public holiday that delayed renewal of its insurances by one day after expiration, the airline was stopped from flying and the passengers discharged by the officials of the Nigerian Civil Aviation Authority (NCAA) until NAICOM confirmed that it has put its insurance package in order. According to the observers, these strict regulations by both NCAA and NAICOM are put in place for security, safety and interest of the passengers,

AIR CRASH DAMAGES

A study of a number of air crashes that have occurred in recent past shows that often when it occurs it claims lives of all the passengers on board, including the cabin crew and at the same time causes damages to the ground where it crashes. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY AUGUST 11, 2021 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Nnoka: Stronger Policies Necessary to Reverse Current Economic Trends The President, Risk Management Association of Nigeria, Mr. Magnus Nnoka, reiterates the need for strong policy implementation that will revamp the Nigerian economy, as well as some pertinent banking issues and risk factors. Nume Ekeghe presents the excerpts: The CBN last week discontinued the sale of foreign exchange to the BDCs. What risks do you envisage from this action? ith the ban of forex sales to the BDCs, Nigeria could save over $5.7 billion annually, according to a report from Bloomberg. The Banking system is a better platform to closely monitor operators, trends and manage the nation’s foreign exchange market. For example, since the sharp drop in crude oil prices to below $30 per barrel to a dollar in April 2020, the Deposit Money Banks have contributed significantly to price stability as dollar has depreciated by just 14 per cent while the exchange rate of the naira in the black market has depreciated by about 40.2 per cent to more than N500 to a dollar. We see short term risk of Naira depreciation but with more transparency and enhanced regulatory oversight, the value of the Naira will remain stable in the FX market in the medium to long term, all other things being equal. I support the position taken by CBN on this, it is the globally accepted best approach

Private placement and Initial Public Offers (IPOs) seem to be drying up in the market. What do you think are the limitations for such offers? Private placements in Nigeria have had a checkered history. The major concerns include the lack of transparency, poor disclosures or information asymmetry, and lack of accountability associated with private placement, which acts as a disincentive to investors. I am aware however that the FMDQ has initiated actions to address some these issues and reverse investors’ apathy I should also add that the trends in private placement and IPOs are a reflection of business environment and health of the economy as investors tend to push for alpha in areas where their returns are optimized. We should also consider reducing the listing fee and associated cost of private placement which are relatively considered on the high side for the financial status of interested companies, The Central Bank has often said the banking system is safe and sound. Does this imply that the sector is devoid of any risk? What are the inherent risks? The Nigerian banking system is robust and financially sound. Average NPLs hovers around 5.7 per cent while average capital adequacy ratio and liquidity ratio remain above minimum regulatory limit at 15.5 per cent and 41.3 per cent as of June 2021. We think credit, cybersecurity, macroeconomic, and regulatory risks are some of the inherent risks facing the industry. Don’t forget that there is nowhere in the world where the banking sector does not face some sort of risk in its operations, the most important thing is making sure that such risk are effectively mitigated at organization and systemic levels. What actually is responsible for the recent rise in inter-bank rates, and what does it mean for the industry and economy? In my view, the recent hike in the interbank rates is largely attributed to the efforts of the Central Bank to control the excess liquidity in the system and thereby curtail inflationary pressure. Therefore, the CBN from time to time do issue OMO Bills to mop up liquidity. In addition, the regime of Discretionary CRR debits as part of liquidity management by the CBN also contributes in creating the trend we have seen in interbank rates. On the positive side, this helps to moderate inflation though still extremely high, but it could have been worse. Overall, the banking industry remains very robust despite the volatility in the nation’s inter-bank rates. Is the Nigerian ﬁnancial market beginning to see Investors coming back, given the changes in interest rates? Investors are watching our economic and political developments with cautious optimism. Insecurity, high inflation rate and exchange rates’ volatilities are some of factors that deter foreign investors from investing in the economy. Therefore, there is a need for stronger policy actions to reverse the current trends and boost economic activities.

Nnoka When is the CBN likely to begin monetary policy tightening as seen in some other countries? Unlike its peers, Nigeria’s key economic indicators such as GDP, inflation rate and exchange rate) remain very fragile. In fact, you will recall that Nigeria barely came out of recession owing to the effect of COVID-19 pandemic and slump in crude oil prices. Therefore, accommodative monetary policy stance is recommended to continue in the short to medium terms. Part of the events that will take place after the forthcoming conference of the association, is election of new ofﬁcers, and having served for the maximum term of three years, what has it been for you leading the association and what legacies are you leaving behind? As you may know, aside from the employees at the RIMAN Secretariat, all members of the Executive Council have their full-time jobs. So, it is expected that we all must put in extra hours to serve the two maters, and for the president, this is even more demanding because the buck stops on my desk. This is the challenge all past presidents have faced, but the unique nature of my tenor has been the additional challenges caused by COVID-19 which has tasked professional risk managers more than ever. I am encouraged by the strong thought leadership and support we provided to both our corporate and individual members in managing the heightened risk environment. On my legacies, frankly speaking, I would not want to indulge in self-assessment, I will rather let our members and the professional risk management community to be the judge, but I am confident that posterity will be fair to me. And don’t forget, I am joining the elite club of past presidents and will continue to avail the association with advisory support when and where necessary. What does the 20th Annual International Conference of RIMAN, hopes to achieve? RIMAN’s Conference is the largest gathering of risk practitioners and stakeholders in Nigeria, with significant value addition over the decades. The conference provides a forum for RIMAN to collaborate with regulatory authorities in policy advancement and promotion of best practices in risk management. Since the advent of the COVID-19 pandemic, businesses have had to adapt their operations to cope with lockdown restrictions and the increased shift to remote working. It is for this reason that this year’s conference has been themed “Risk Management in a Digital Era”. It is our expectation that the event will provide a platform to re-examine the plethora of risks associated with digital adoptions in various spheres of economic activities and private lives. We will be joined by a host ofseasoned speakers who will drive the conversation around risk management in the covid era and proffer strategies for managing these risks. RIMAN, over the years, has used the conference to promote Intellectual discourse on contemporary issues and provide strategic direction for policymakers in the public and private sectors. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

BUSINESSWORLD

INTERVIEW

Ogunbiyi: Nigeria Over-leveraged, FG Must Borrow for Speciﬁc Projects The Chairman, Mutual Benefits Assurance Plc, Dr Akin Ogunbiyi, in this interview spoke on several problems facing Nigeria including unemployment, trade deficit and the burgeoning local and external debts, Ugo Aliogo present the excerpts people running it - running our government. How professional are they? But they find themselves there; so, what can we do?

The operating environment in the country has been tough; unemployment is high and insecurity worsening. What in your opinion is the way out? n idle hand is the devils workshop. If unemployment is worse than two, three per cent in America, it is headache. It is a major scoring for any government in power. It is daily assessment for them. Many of those unemployed have gone through university. You produce them in mass. You can take care of these people if you are productive. Do you know the main productive sector of America is the SMEs? When somebody has no hope, why will they not recruit him into kidnapping? There was a young man in my village, he made first class in architecture, three years after he graduated, he had no job, no hope. His first job ever was a senior lecturer at a university in the United Kingdom. I gave him scholarship to go and to his masters when I got to know. From there he did his PhD. This is somebody who was wasting away in Nigeria. This is the story of Nigerians. We are brilliant; we are knowledgeable but nothing to do. If we have industries, factories, business entrepreneurs that can absolve all these people, why can’t we do it?

Despite the opening of Nigeria’s boarders towards the end of last year, Nigeria has still been recording trade deﬁcit. Why is this still happening? We are not a productive economy. We live virtually on import. Common tissue paper, little things that we can produce are imported. Before, we used to have industrial parks, even in Ikeja here. How many industries are still functioning? Along Oshodi Badagri road, we used to have cotton industries that produced fabrics. How many of them are still there? What actually is the source of problem is lack of productivity. When you don’t produce, what do you have to export? We talk of dollar scarcity. What do you think brings dollar scarcity? Recently I read that vessels that come with tons of goods into this country, when they are going, they go empty. You have cargo aircraft; they come in daily fully loaded, when they are going, what do they take back? Why?, because there is nothing to export. It calls for a re-think. Nigerians are not lazy. They can produce, why should everybody depend on only a few companies to produce for everybody. People can be called entrepreneurs in their own rights but there is nothing like that. There is no incentive for anything. It is only the big boys who can get the incentives. They are the ones that have access to foreign exchange. We need to put value on productivity. Three things, which we are cogent in this country, knowledge, power and wealth. We place emphasis on wealth and that is where we are missing it. If you have the knowledge, and the knowledge is adequate, with adequate knowledge and information, you can be able to create wealth and get power. Because if you want to produce tissue paper for example, if you have the knowledge, you will be able to produce the tissue paper and that gives you power and that power generates the wealth. We will always be in deficit except there is a national policy that talks on productivity. Mention any sector of the economy in America or in Europe that you will not find a Nigerian among the blacks. The knowledge is there, but we lack one thing; We will not allow our people to apply the knowledge to generate productivity and without productivity, we always have negative balance of trade. Industry statistics show that Nigeria is out of recession. But has the economy really improved to show we are out of recession? We have to go by the statistics that is published. They said we are out of recession and they have statistics to back it up. Yes, we are out of recession, but looking at COVID-19, I think we have been really very blessed when it comes to COVID-19, its impact, its implications, especially, on the economy of our country. In fact, when last years, when COVID-19 was ravaging every economy, when all the economies of the world was closed down, I can virtually say that Nigeria still managed, except when government forced us to stay indoor, it is like COVID-19 is not existing in Nigeria. so if they say it has no such magnitude or multi impact, I will say the answer is yes because we are lucky, either God intervened on our behalf all through race, or through our inheritance or through whatever is it that we have been able to build. Yes, we had few individuals who died of COVID-19, and if you look at it, you will find out that they had one underlining sickness or the other. So I will say, by are large, Nigeria has been very lucky, we have actually operated as if there was no COVID-19 except for the time that we were forced to lock down, but look at everywhere, activities are still going on. So,

Power challenge is a thing of concern that is affecting SMEs in the country. Despite different reforms, the sector is still challenged. What is the way forward to revamp the power sector? It is not an individual issue that you just raised. It is still a national issue. It is same Federal Government that will make a pronouncement and issue national policy. To start with, what is the energy policy of the government? What is the energy policy of the four last governments that we have had in this country? I had an interaction with one minister many years back, and we were discussing this same issue, and I said to him, “Why is it difficult to solve energy problem in Nigeria?’ And the man laughed, and he said, ‘Nobody is ready to solve power problem in this country.’ We are only paying lip service to it. I asked how; he said it is a simple thing. We have individuals, investors across the globe who can solve it without government getting involved. It is just creating an enabling environment. And I said, ‘I agree with you.’ Why don’t we segregate Nigeria into six geographical zones, make each zone independent, and call each investor to come and understudy and let them provide power for each region and charge based on their viability. The way the telecoms service was liberalised, let it be done in the power sector too. Let there be a national policy on power from the Federal Government, and let us be sincere with it.

Ogunbiyi statistically, they said we are out of recession, I want to believe we are out of it. The government has been borrowing a lot and most of government’s earnings are being used for debt ﬁnancing. What is the implication of this? There is nothing bad in borrowing, but when you borrow and there is nothing to show for it, there is no means of paying back other than that one product - oil, it is a problem. It is a major problem. When you borrow, you borrow heavily. Leveraging an economy is not bad, but when you leverage, you leverage to deliver on some things. What are they borrowing against? Is it to do infrastructure? Is it power or is it social infrastructure? But when you just borrow for the sake of borrowing, before you even bring the money, they have shared it. It is unfortunate. Why are we borrowing? Borrowing, itself is not a bad thing. The price of oil is good now. What is our oil reserve, our external reserves? Look at what dollar is to naira. You don’t even find dollar to buy. We are not a productive economy; we are a rent economy. A rent economy should not be going out to borrow money. When you borrow money, to do what? Look, Lagos-Ibadan Expressway has been there for how many years now? Ten years. It has increased the value of the contract; it has been doubled over and over again. It is unfortunate; we are not supposed to borrow at all. It is a time to do austerity measure. It is a time to live within our means. How can the states reduce their reliance on federal allocation and focus more on internally generated revenue? Our state governors don’t get anything doing. How much is their internally generated revenue? And about 70 per cent, 80 per cent of the money they collect from federation account is used for the payment of civil servants’ salaries. How can you develop? Our state governments need to crave for independence. There is no part of this country that is not blessed for agriculture. In those days, when we had the regional governments, they competed in terms of food production - cotton in the North, cocoa in the South West, coal in the East. These things are still there. Even if you want to borrow, borrow for a specific project. Let the project be viable; borrow money against viable projects so that when the projects are generating cash flow, they will pay back. The states need to think inwards. They need

to look at things physically - look at agriculture, industrialisation, even look at what people are using to make money, things that will make them independent. When you create avenues for people to be entrepreneurs, to generate their own business, there is tax implication. But an environment that makes it easy for people to start business, when they start a business, don’t be in a hurry to make money before they start. Get them to start it and support it. When you support it and it starts to grow, then you can now start to tax it. When you have a sustainable N5, it is better than taking N50 today and the business will not see the light of the day. I am not against borrowing, but I think the federal government needs to watch it. The country owe about N33trillion; our external reserves today is just over $30bn. They don’t have money to sustain it. I am an entrepreneur; I know the value of money. I know what goes into making that one naira. We are already over-leveraged, but if we must borrow, let us borrow for a specific project and let the people we are borrowing from certify the value of the project so that we know what we are doing. All the loans that the states have taken, who regulates them? We have different agencies that are spending money here and there. The agencies are also part of the problem of the federal government. They budget heavily for them despite the fact that they are income-generating agencies. When they make the money, what do they do with it? What is the solution to the forex scarcity in the country? Can uniﬁcation of the exchange rate be helpful? If you have something that is so scarce, why don’t you have a single conversion rate? They sell money to Bureau de Change operators at a different rate; you sell to importer at a different rate. When the Federal Government has something to do, they know how to go and take money at another rate from the central bank. All these things are corruption. Let us have single exchange rate. Something that is so scare, why will you give people the opportunity to choose their exchange rates? The Federal Government has restricted the list of things that they use forex to fund. Make everything available. The singular reason to solve this problem is to have one single exchange rate so that anywhere you turn to, it is the same rate you get it. There will be some sanity. Everybody knows the right thing to do but who are the

The agriculture sector is grappling through challenges which are worsened by security problems. The CBN has introduced interventions but food inﬂation is still persisting How can some of these challenges be addressed? I agree with you; the greatest problem of Nigeria today is insecurity and it doesn’t look like we have a solution tomorrow. It is getting worse. Coming to the issue of intervention, the CBN has come up with various interventions for agric. The question is: what do we have to show for them? Before you say you want to intervene in a particular area, there has to be a detailed report, a business plan. If farmers say they are getting loans and are unable to repay, look into it. I am a farmer. I have several hectares of farmland; I have not got a kobo from the government. But people are using insecurity as an excuse. They see any intervention from the government as their share of national cake; that is the unfortunate thing. There is no genuineness in the so-called farmers who claim this intervention. That is why you have all kinds of agric associations everywhere. Go and check it. The real farmers, how much do they get? Do they even put it into production? Presently, if you can go back to those old days, when you had the farm board, cotton board; let the farmers be sure of what they are going to get from the production of a particular crop. If today, you say you want to produce maize and there is a national policy, maize for this year is going to be sold at this. Don’t give them any money. They will go and produce. For that particular year you are producing maize, maize will flood everywhere. If you have a formula that has worked in the past and you don’t have a better solution, the money they are using to intervene, let them put it down and say, ‘With this money, we have N250m to buy maize this year.’ Let them know, and the farmers will produce massively. Do the same thing for cocoa and others. Instead of intervening, use the money to buy it directly, then coordinate and export. I think that will be better than giving money to people who will come and give excuse. If you produce, you earn money. We have mineral resources that are more valuable than oil. Why don’t we have a national policy on gold, diamond and any raw materials you find in any part of the country? Why is it only oil. All these mineral resources are there in commercial quantities. What happened to coal? We have leaders who want the easy way out - oil. We should come up with a policy of taking from the farmers directly at an agreed price; it is better than giving them money ahead. And if you want to support farmers, how many hectares have you planted? Get agents who will give fertilisers, insecticides - physical things that they can see - and you determine the quantity you give. Most of those that collect the money are not involved in agriculture. Let farmers get direct benefits of their labour. The farmers are the poorest while the middlemen are getting richer. The truckload of the produce would have passed five to six layers of middlemen. The middlemen sell for more than 10 times the price they bought. Let us have a national policy so that everything comes in, then you can sell.

WEDNESDAY AUGUST 11, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

EDUCATION Gender-based Violence: Why Children Must be Protected from Abuse Funmi Ogundare writes on the need for more awareness and engagements with organisations and groups that work with children so that girls who have suffered one form of physical, sexual or emotional abuse can get justice

ashida Adeola, 16, dropped out of Oluwa Memorial College, Tolu, Ajegunle, in 2019 when she was in JS2 because there was no money to finance her education. She grew up not knowing her father and mother, who was supposed to be taking care of her, eloped with another man and abandoned Rashida and three of her siblings that she had for two other men, to their fate. At the peak of the COVID-19 pandemic in 2020, she got pregnant for a boy, an apprentice mechanic she met while hawking ‘pure’ water on the street. When she broke the news to the boy, he denied responsibility for the pregnancy. THISDAY recently met Rashida at the office of Dreams from the Slum, an Ajegunle-based non-governmental organisation that takes children off the street. She was clutching a malnourished two-month-old baby. She looked forlorn and unsure of what the future holds. She recalled that when the boy approached her for friendship, she accepted his request, and they started having sex afterwards until she got pregnant. When she informed him about the pregnancy, he denied being responsible for it. “All through the period of my pregnancy, I couldn’t stay at my mother’s place because she hardly had time for my siblings and me who she had for other men, and so I was forced to stay at a crowded room in Ajegunle which we pay stipends for, to pass the night. “Once my mother goes out on Monday, she will not come back until the Sunday after and there is no one to cater for my upkeep, so I had to start the business of hawking sachets of water which I learnt from my mother so that I could use the proceeds to feed myself.” She said since she had her baby through the Caesarian section two months ago, she had to stop hawking. Asked how she caters for herself and her baby, she said she met the organisation’s founder through a relative of hers, adding that he has been responsible for their cloths, toiletries and food for her and her baby. Rashida’s case illustrates many teenage girls’ from dysfunctional homes have been abused, especially during the COVID-19 period, due to lack of parental care, self-control, assault, lack of sex education, poverty, among others. Findings from the 2014 National Survey on violence against children reveal that six out of every 10 children in Nigeria have suffered one form of physical, sexual or emotional abuse before they reach the age of 18. One in four girls and one in 10 boys have experienced sexual violence. This violence often occurs in a place where the child is considered safe such as their homes and schools, and fewer than five per cent of children who are victims of abuse ever get the help they needed to recover. Obiamaka Aga is a legal practitioner and secretary of the African Women Lawyers Association, Lagos. The association is also a member of the Child Protection Network (CPN) in the state. She said the group works directly with children. She recalled a case of a couple arrested for neglecting their three children who were between the ages of three and five, adding that the group investigated the issue and found them culpable. “This couple were drunks and take Indian hemp on a daily basis, and the children loiter from one street to another. We received information from a mandatory reporter because there is a child rights law that has been put in place by the Lagos state government,” she stated. “We also have the child protection policy, which stipulates that you must report anything bad if you see anything bad happening to a child. So we monitored it, and we saw that it was a pattern, and we picked up the parents. Right now, the children are being rehabilitated in a home, while the parents are in Kirikiri Correctional Centre, Lagos, cooling their heels.” Aga said the group also go down to schools to educate children about their body parts while expressing concern most parents have failed in their responsibility.

They should be protected from abuse

The time has come to break the culture of silence. We can’t afford that anymore because sex and sexual based violence is such a phenomenon that affect the whole society. You see people who are behaving abnormally these days and when you go to the roots of it, its actually sexual and gender based violence. It shouldn’t be handled like a family matter “They are not talking to their children, and they don’t even know what child rights are. We go directly to the children beginning from nursery school. By going through the school system, it is already making the needed impact. The children are the ones speaking up on the issue of abuse, not even the parents. For instance, there were three sisters that we rescued. Their father was molesting them sexually. “These sisters reported to their neighbour, family members and even their church, but they were told they needed deliverance. The eldest was about 15 years old. After that, they reported the case to the school, and because they had the opportunity to hear about sex and abuses, they knew that what their father was doing to them was completely wrong.” There is also the culture of silence, especially from the mothers who often try to cover up for the fathers who perpetrate this abuse because they are the breadwinners of the home. Emphasising the culture of silence from family members, she said, “Each time we get to the police station, they tell

us that they can manage it, especially if the person molesting the children is their breadwinner.” A legal aid officer with the Legal Aid Council of Nigeria and former chairperson of Federation of Women Lawyers in Taraba, Jessica Jidanke Offia, noted that sexual and gender-based violence, particularly in the north, is hardly discussed. “Affiliations are also very vocal about women rights regarding sexual and genderbased violence. The awareness is getting better now, but we still have cultural and religious inhibition and the general attitude towards sexual relations. Recently, with more awareness and engagement with people and advocacy, we are beginning to see people speak out.” She recalled a case of a father who was abusing his daughter because her mother had died, saying, “he feels that the girl belongs to him,” and he could do whatever pleases him with her. The girl was already 12 when the abuse was uncovered. She added, “We are saying that the time has come to break that silence. We can’t afford that anymore because sex and sexual-based

violence are such a phenomenon that affects society. You see people behaving abnormally these days, and when you go to the roots of it, it’s actually sexual and gender-based violence. It shouldn’t be handled like a family matter. People should speak out more, especially now that we see more support from the government and groups, civil society organisations and NGOs, and their willingness to take up this issue and handle it headlong rather than allow it to be swept under the carpet.” According to Offia, domestic violence drives some children to the street. The duo of Uju Chukwumoka and Cynthia Ibe of FIDA said the impact of the COVID-19 pandemic has escalated domestic violence, adding that the group has magnanimously started to cushion so many of the impacts and victims are getting justice. For girls who have been molested sexually and got pregnant in the process, they said once they can identify the culprit, they will be mandated to take care of the baby. The duo said the group has been working with the Lagos government to give a holistic approach to victims, adding that they have also been promoting women’s rights. Isaac Omoyele, the founder of Dreams from the Slum, told THISDAY how his organisation partner the Rights Enforcement and Public Law Centre to help victims of abuse by advocating for their rights and providing free legal services for vulnerable women. “This is the reason why we partnered with them so they could sensitise girls and women in Ajegunle on their rights.” For abused teenage girls, he said he believes that everyone has a chance to rewrite the outcome of their lives. This is why his organisation is making moves to connect them with organisations and individuals that can come to their aid. Describing Rashida’s case as pathetic, he said the person that impregnated her is a boy. “It is not advisable for her to go back to him. Her child is totally malnourished. As an organisation, we have actually taken it as a duty for us to take care of everything that the child needs, like clothing, food and nappies,” said Omoyele. “We might not be able to shelter her for now. Another thing is to see how we can set girls like her up in business so that they will be able to help themselves.”

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

EDUCATION

Kwara Has Surpassed UNESCO-recommended Education Budget Allocation - AbdulRazaq Hammed Shittu in Ilorin

Governor AbdulRahman AbdulRazaq says Kwara has surpassed the budget allocation for education recommended by UNESCO. He noted that society would no achieve sustainable development without a good education system. Speaking at the Kwara Education Futures Summit

held in Ilorin, the governor said, “This is why my first preoccupation in office had been to check up on the state of our schools. It was a sorry tale. The basic education had simply collapsed.” He noted that his administration was committed to revamping Kwara’s education system and that there were results to show for that. “We got down to work

immediately. Two years down the road, my team and I are proud to report that the situation has changed. We have restored our relationship with key partners after years of a blacklist,” said AbdulRazaq. “We have reshaped public perception about teaching by engaging the best minds into the system. Work is ongoing in some 600 basic schools to give our children a befitting

learning environment.” The governor also noted that his administration’s goal “is to make public schools the first choice for all in terms of the quality and relevance of our infrastructure and teaching staff in the digital age.” On funds allocated to the sector, he stated, “As a show of our commitment to education, we have recently

surpassed the UNESCO budgetary threshold of 26 per cent. Even so, it is clear that the government cannot do this alone.” He however acknowledged that “huge gaps still exist.” AbdulRazaq explained: “For instance, our recent school census across four local government areas shows that 41 per cent of our teachers are absent at

their duty post. No single teacher was seen in 54 of the 368 schools sampled, while 23 per cent of students on head teachers’ records were not in school during the census.” He also pointed out that “only 15 per cent of the schools sampled were rated as needing no repair, implying that 85 per cent” of the classrooms required rehabilitation.

Corona College Emphasises Value-driven Education, Graduates 155 Chris Asika

L-R: Deputy Provost, Corona College of Education (CCED), Mrs. Chinedum Oluwadamilola; Deputy Vice-Chancellor, Pan Atlantic University, Prof. Enase Okonedo; Provost, CCED, Dr. Olajumoke Mekiliuwa; Director of Education, Corona Schools’ Trust Council, Mrs. Amelia Dafeta; and the Registrar, CCED, Mrs. Joan Omole, at the third convocation/public lecture of the college in Lagos... recently

AAAN Releases AdCademy Masterclass Schedule

The Association of Advertising Agencies of Nigeria (AAAN) has released the schedule for its second AdCademy Masterclass billed to hold from August 26-29. The schedule of the threeday virtual training course, in partnership with the prestigious Henley Business School, was released via a statement jointly signed by Messrs. Jenkins Alumona, AAAN Vice-President/Chairman, AdCademy Committee; and Olasunkanmi Atolagbe, acting AdCademy Director. According to the statement, the programme’s opening session will focus on Marketing and Marketing Intelligence, with participants exposed to

insights on how the market works, market and consumer intelligence, advanced research and data analytics, data and insight in communication and principles of media strategy and Public Relations management. Facilitators, said the statement, include Professor Adeyinka Adewale and Ms. Louise Claassen, both of Henley Business School; Mr. Bayo Adekanmibi, Chief Transformation Officer, MTN Nigeria; and Mrs. Nkiru Olumide-Ojo of South Africa’s Standard Bank. The second day is devoted to the course on essential leadership competencies, with participants taken through training in emotional intelligence, business networking

and relationship management, leadership approaches in marketing, art of negotiation and presentation. The sessions will be taken by Henley Business School’s Dr. Melanie Prinsloo and Professor Aadeyinka Adewale, Professor Emevwo Biakolo of the Lagos Business School, Mr. Ayuli Jemide, Chairman of the Nigerian Bar Association (NBA) section on Business Law, Mr. Austin Ufomba, Chief Executive Officer, Tytron Group; and Mrs. Chioma Afe of Access Bank. The final session has efficient work management as focus, with participants billed for insights into project management, the art of delegation

and job crafting/workload management. The AdCademy Masterclass series, which took off in March after decades at the conception level, is designed to widen the talent pool in advertising and other marketing communications fields as well as continuously upskill current staff of advertising agencies and communication professionals in the private and public sectors. The statement also disclosed that prospective participants who register between 4-18 August will enjoy a 10 per cent discount on the N150,000 course fee, while advertising agencies with two or more registrants will enjoy an additional 10 per cent discount.

20 Indigent Bridge Pupils Get Scholarship Funmi Ogundare Twenty indigent Bridge pupils have received a full academic year scholarship from the Alabaster Network. Alabaster is a non-governmental organisation focused on sharing principles on how students can excel at their careers and home. The organisation has carried out social impact projects such as supporting orphanages, adopting

a local government hospital and donating equipment to make women’s lives in the community better. The scholarship awards to the pupils are its first social project in education. Speaking at the scholarship presentation, which had in attendance the beneficiaries, parents and sponsors, a representative of the Alabaster, Iye Rotimi, noted that investing in the lives of children through education was a pivotal way to securing

their future. “If there is anybody seeking to make an impact, there is no better way than to invest in the lives of children because they are the future of our country,” stated Rotimi. Obaloluwa Olusesan, a primary four pupil at Bridge International Academies in Ipaja, one of the beneficiaries, expressed delight about the scholarship. He said he enjoyed reading because of the electronic reading

programme of the school. One of the parents of the beneficiaries, Modupe Alfred, expressed gratitude about her son’s scholarship, commending Alabaster and Bridge for their intervention in supporting children’s access to education. Bridge Nigeria is a network of nursery and primary schools in underserved communities in Lagos and Osun, creating opportunities for children to grow and explore their potential.

Corona College of Education Lagos has reiterated its commitment to ensuring a value and technological-driven education system to contribute its quota to developing the country’s education sector. This was as the school confirmed that 155 students were conferred with various certificates for the 2019/2020 academic session, awarding 117 Professional Diploma in Education; two in Nigeria Certificate in Education; and 36 in Advanced Diploma in Early Childhood Care and Education. The Provost, Dr Olajumoke Mekiliuwa, disclosed this at the third convocation ceremony of the college and a convocation lecture, the second in the series of public lectures organised by the college. The lecture, ‘Town and Gown Synergy: Bridging the Gap between Theory and Practice Towards a sustainable Society’, was delivered by Prof. Enase Okonedo, Deputy Vice-Chancellor, Pan Atlantic University, supported by other stakeholders.

The stakeholders who spoke at the convocation maintained that funding was a major issue in revamping the country’s education system. Okonedo also noted that African ivory towers must focus on values and re-think how to develop practical solutions to the issues. She also identified key skills employers look for in graduates to include communication, problem solving, creativity, adaptability, inquiry, among others. Okonedo called on the federal government and various institutions of learning to include service-learning and service provision in the curriculum. Expressing her dissatisfaction with the current education funding in Nigeria, Mekiliuwa opined that things could be better though the country still falls short of UNESCO standards. She maintained that the college was committed to its vision and mission of being the best provider of teacher education in Nigeria with premium quality and standards for the training of globally competitive graduates.

TRCN Inducts 900 Teachers at FCET Umunze Uchechukwu Nnaike The Teachers’ Registration Council of Nigeria (TRCN) has inducted 900 graduates of the Federal College of Education (Technical) Umunze. The inductees were among successful candidates that sat the 2021 professional qualifying examination held in the institution by the TRCN. Speaking at the induction ceremony held recently at Dr. Alex Ekwueme Auditorium of the college, the Registrar/ Chief Executive of TRCN, Prof. Josiah Ajiboye, commended the institution’s leadership for making TRCN induction a priority over the years. He said the induction of teachers into the council had remained one of the best international practices and quality assurance benchmarks in the drive for the professionalisation of teaching. The registrar, represented by the Director, Regulation, Accreditation and Enforcement, TRCN, Enilolobo Gbolahan, stated that the TRCN serves as the gateway to teachers’ professional life and personal development and growth. In her remarks, the Pro-

vost, Dr Tessy Okoli, said the college keyed into the federal government’s directive to weed out unqualified teachers from schools. She said the college would not relent in producing quality teachers that would invest their knowledge and skills in the nation’s education sector. “At the inception of this administration, the management laid out a clear policy on human resource development by encouraging both teaching and non-teaching staff to enhance their competence by pursuing further academic training and retraining programmes. This career enhancement policy has remained effective till date,” Okoli said. The provost noted that the college had remained a strong advocate of professionalism in teaching by ensuring that all its teaching staff get the required certification. “It is pertinent to note that our partnership with the TRCN over the years in the certification of qualified candidates has yielded huge benefits. Thousands of our college graduates inducted into the TRCN serve in different capacities in schools across the country,” she said.

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

EDUCATION

Parents Urged to Invest More in Children as Cicero School Graduates 19 Uchechukwu Nnaike

Worried by the increasing rate of moral decadence in society, the Head, Cicero School, Ajah, Chidinma Agumuo, has advised parents to invest more in their children. She said this at the school’s recent graduation ceremony, for a total of 19 pupils in the nursery and primary sections. On insecurity in schools, Agumuo said every child ought to know what it means

to be secure in school, adding that the school has integrated security into its curriculum, teaching schoolchildren the importance of safety and security. She disclosed that the school had also put precautionary measures in place to safeguard the pupils. To the graduands she said: “I pray that your years ahead will be characterised by discipline, good moral conduct, positive aspirations,

and most of all the fear of God. May you always lead by example and hard work as high flyers. May you continue to fly like an eagle until the sky becomes your starting point.” In his remarks, the chairman of the occasion, Orji Dike, harped on the virtues of honesty, patience, hard work and contentment among children. He advised parents to be accommodating and patient with their children

and not expect their children to be perfect. The chairman also encouraged the teachers to be content, nurture the children in their care, upgrade themselves and aim higher. High points of the event include the recognition of the best pupil in each class, presentation of certificates to the graduands, and musical rendition and cultural dance by the pupils.

L-R: Director, Finance and Account, Lagos State Universal Basic Education Board (LSUBEB), Mrs. Ramat Egbeyemi; Dr. Hakeem Shittu, board member; representative of the state Accountant General, Mrs. Iyabo Tifase; Executive Chairman, Hon. Wahab Alawiye-King; and the Board Secretary, Hakeem Lamidi, at the training for headquarters and LGEA variation oﬃcers of LSUBEB, in Lagos... recently

Lagos SUBEB Empowers Variation Ofﬁcers Funmi Ogundare The Lagos State Universal Basic Education Board (LSUBEB) recently held a workshop for variation officers to enhance their performance on the job and ensure accountability. The programme was themed ‘Efficiency in Handling of Staff Salary Variation’. Speaking at the maiden edition of the programme, the

chairman of the board, Wahab Alawiye-King, urged the participants to pay attention “so that they will have the necessary skills to make their job easier and ensure that they are relevant in today’s world.” He added, “The issue of the wellbeing of our staff is very imperative. If you walk in and your salary is not calculated appropriately, you will be discouraged. Part of the welfare package is to ensure

that they are motivated. As variation officers, they are in charge of making adjustments and identifying changes to be made.” A permanent board member in charge of planning and research, Dr Akeem Shittu, said the programme was to keep the officers abreast of modern ways of doing their job. Head of Revenue Unit SUBEB, Elizabeth Oladunni,

applauded the state government for approving the workshop for the officers. A participant from Mushin LGA, Oluwakemi Sulaiman, said the programme would enhance her work. “Normally, we have people who have been promoted. So, it’s about teaching us how to put things right and implementing the salary accounts of those who have been promoted,” she said.

Early Diagnosis Helps in Managing Autism, Say Experts Oluchi Chibuzor The Chief Executive Officer of Guaranty Trust Holding Company, Segun Agbaje, has led an autism awareness campaign to sensitise parents and caregivers on better ways to care for children living with the disorder. Speaking at a programme held recently to mark World Autism Day, tagged ‘Life Being the Diagnosis’, experts reiterated the place of early diagnosis in managing the developmental disorder. The 10-day conference, 11th in the series, held in Lagos from July 26 to August, hosted special needs and child care experts worldwide. In his remarks, Agbaje stated that the organisation was committed to leading the conversation to draw attention to the needs of children living with autism and

providing support to parents and caregivers. “If you have a child or ward living with this condition, you are not alone. You have the full support of everyone at Guaranty Trust, as well as our commitment to helping you in any way we can,” he stated. Consultant and speechlanguage pathologist, Dr Grace Bamgbose, noted that as part of efforts towards ensuring that children with special needs are properly cared for, parents and caregivers should seek early diagnosis and learn how best to care for them. She said about seven to 12 per cent of children had developmental needs from ages two to 14, adding that early detection would increase the child’s chance of getting the requisite help they need to lead independent and productive lives. “Getting a diagnosis will

preempt the next line of action and the therapeutic measures to adopt and things to change around the child looking beyond the early years of diagnosis,” added Bamgbose. “Parents need to educate themselves on better ways to manage that child to become independent. They have to look at things to change around the home that would suit the child. We want to have a conversation about the kind of school placement of that child.” Adelola Edema-George, a special needs educator, opined that every child at every level of autism needed support, attention to develop and contribute meaningfully to society. She added that government support would ease the financial burden of managing the condition and further broaden the mindset of parents and caregivers to better deal with the

stereotypes associated with it. “The government has done some things to create awareness on special needs, but the information is still limited. The expertise they have may not be enough to ensure that they are meeting the needs of children with disabilities. We hope we can get government support and that parents can get therapy and diagnosis,” said Edema-George. A US-based speech-language pathologist, Adeboyega Otubanjo, stated that beyond awareness was the challenge of willingness to access the service. “Even though in New York, the government is providing early intervention for free, the willingness to approach these services is not there because of lack of enlightenment on what autism entails. Some people believe that autism is something that a family member caused,” Otubanjo pointed out.

Teacher’s DIARY KEHINDE OMORU

www.kayomoru.com

ELIMINATING OUR TEACHERS HASSLES

tressors that raise every teacher, lecturer, tutor, instructor (or whatever pedagogical title you’d like to be known by)’s tension derive from governmental, national, zonal, as well as from personal sources. What causes teacher these strains, anxieties, difficulties, worry, tension and troubles includes: Irregular salary payments. Inadequate salaries. Excessive work overload. Excessive teaching hours. Poor students’ behavior. Large class sizes. Non-computerised teaching resources. Pressure of assessments and examination deadlines. Lack of professional opportunities. Lack of life opportunities. Lack of promotion. Lack of career progression. Parents’ aggression. Conflict with head of school, head-of-department or colleagues. Role ambiguity. Role conflicts generating all manner of dissatisfaction among colleagues. Role over-load. Lack of health care In every profession, teaching not being the least, whenever we get stressed out, we all make poor choices that actually exacerbate our stress levels and cause other problems like: high blood pressure, insomnia, low self-esteem, poor concentration, cancer, digestive disorders, infections and so on. To get the most out of your job therefore, you must cultivate certain habits that would help you manage your dissatisfactions. These habits are simple, affordable and accessible. Healthy eating is one of such habits. It’s magical in the way that it helps you lower or treats your stress levels. Tips to manage teacher-stress Always eat breakfast Even though you may think you aren’t hungry, you need to eat breakfast. Skipping breakfast makes it harder to maintain the proper blood and Sugar levels during the day, so you should always eat something in the morning. Carry a snack Keeping some protein rich snacks in your car, office, or pocket book will help you avoid blood sugar level dips, accompanying moods swings, and the fatigue. Nuts, fruits and energy bars all have the nutrients you need. Healthy munchies If you like to munch when you’re stressed out, you can replace chips or other unhealthy foods with carrots, cucumber, bananas, yoghurts or even nuts. Bring your lunch Although a lot of people prefer to eat fast food for lunch, you can save a lot of money and actually eat healthier if you take a few minutes and pack a lunch at home. Even if you only do this a few time a week, you’ll see a much better improvement over eating out. Stock your home As important as it is to get the bad food out of your house, it’s even more important to get the good food in! The best way to do this is to plan a menu of healthy meals and snacks at the beginning of the week, list the ingredients you need, then go shop for it. This way, you’ll know what you want when you need it and you won’t have to stress over what to eat. Finally, ensure you undertake the hereunder listed tasks on a routine basis to reduce your hassles: Exercise. It’s a cliché for a reason: exercise really does prompt your body to release feel-good hormones like endorphins, which can help you to feel less stressed... Organise... Breathe... Take a time out... Meditate. r 0NPSV JT B GSFFMBODF XSJUFS FEVDBUJPO IFBMUI BOE TPDJBM DBSF BEWPDBUF

WEDNESDAY AUGUST 11, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY AUGUST 11, 2021

CITYSTRINGS

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

How FMBN is Leveraging Co-operatives to Make Homes Possible for Nigerians Nathan P. Ajene

alamatu Ahmed is a level 9 administrative officer with the Citizenship and Leadership Training Center in Abuja. Shortly after she gained employment, she registered and consistently contributed to the National Housing Fund (NHF) Scheme. The NHF is a federal government program created in 1991 to pools long-term housing finance to drive delivery of affordable housing to Nigerians through the Federal Mortgage Bank of Nigeria (FMBN). About a year ago, Salamatu received the keys to a three-bedroom, fully detached bungalow at the 230-housing unit Woodhill Estate located in Kuje, Abuja, FCT, after a down payment of N3.5M. "Am so excited," an elated Salamatu exclaimed. "It is a dream come true for me. I am now a landlady in Abuja, the Federal Capital Territory (FCT). Now I don't have a problem with neighbors, landlords. I control my living space, and no one can come and knock on my door, saying your house rent is due. Even when my husband is away, he knows we are safe and comfortable in our house, "enthused Salamatu. "The first step I took was to register and start contributing to the National Housing Fund (NHF) Scheme. Next, I joined a Cooperative Society. I paid N3.5m equity, and FMBN paid the remaining balance. They would be deducting it from my salary till I retire, and it won't affect me," she added excitedly. Another beneficiary of the FMBN funded Woodhill Estate in Kuje is Mariam Amos, a level 10 Civil Servant with the Federal Government. She is a proud owner of a three-Bedroom Bungalow. "Before I got this place, we were paying rent where we lived in Lugbe, and I've been there for about 3-5 years, and you know everyone wants the security of owning their home because before you know it, a year has gone by, and you're thinking of paying another rent, so it wasn't easy at all". "Knowing we don't have the finance to buy the property, my husband suggested that we get a loan from the Federal Mortgage Bank, so we paid the equity, and we were able to source the loan from the FMBN. We were surprised when they called us to go fill in the necessary documents". "I can now call myself a landlady now in Abuja, as I don't have to pay rent to anyone again," an elated Mariam Amos stated proudly. Homeownership Dreams a Reality Dreams are becoming a reality for many contributors to the National Housing Fund (NHF) Scheme. Like thousands of other Nigerians, Salamatu and Mariam's homeownership dream come true stories result from the Federal Mortgage Bank of Nigeria's (FMBN) renewed multi-level affordable housing interventions. These interventions increase access to quality and affordable homes to contributors to the National Housing Fund (NHF) Scheme. On the one hand, they include the financing construction of affordable housing stock by reputable housing developers and the packaging of affordable mortgage loans to enable eligible NHF off-takers to own the built properties. In their case and that of other beneficiaries of the Wood Hill Estate, the Federal Mortgage Bank of Nigeria (FMBN) provided a N997M Cooperative Housing Development Loan to the Akacare Multipurpose Cooperative Society. The Cooperative comprises workers from the formal and informal sectors, including civil servants, private-sector workers, and self-employed persons. The approved housing units were deliberately designed to fit the incomes of the Akacare Cooperative members to ensure affordability. They comprise two (2) and three (3) bedroom detached bungalows priced at N7.5M and N9.5M, respectively. Improved Project Delivery Quality assurance was also a key deliverable at the project site. Unlike the practice in the past, the FMBN did not only vet and disburse the monies to the Developer. They also deployed competent built professionals its employment to closely monitor each stage of the construction process to ensure strict compliance to agreed

MD/CEO, FMBN, Ahmed M. Dangiwa building standards and specifications. FMBN split the disbursements into phases to ensure value for money with additional payments tied to the developer meeting set deliverables and project implementation timelines after inspection and confirmation by its professionals. Upon complete construction, FMBN proceeded to package NHF Mortgage loans of up to N9M to members of the Akacare Cooperative Society to enable them to own the homes at the best market rates. The interest rate on the FMBN NHF mortgage loan is seven (7) percent, and tenors are upwards of thirty (30) years, depending on the beneficiary's age and length of service. The wholly subscribed Wood Hill estate is fully serviced with basic infrastructure, including an internal road network, electricity, and waterworks to create residents' conducive and livable environment. FMBN also provided additional finance for the construction of a 2-kilometer access road for the estate. The Woodhill Estate is one of the many estates that the FMBN has financed to make affordable homes possible for members of co-operative societies nationwide. The FMBN Cooperative Housing Development Loan Window The FMBN Cooperative Housing Development Loan (CHDL) enables a co-operative society with unencumbered land titles to access construction finance and build houses for its members who must contribute to the National Housing Fund (NHF) Scheme. The loan window provides up to N500million at an interest rate of ten percent. Key features include tenors of up to 24 months with a moratorium of 12months. Once built, FMBN packages mortgage loans to enable the members to own the houses. The Hon. Minister of Works & Housing, H.E. Babatunde Raji Fashola, SAN, commissioned the estate in 2020. At the same event, the Minister kicked off the National Cooperative Housing Development Scheme

to boost the delivery of affordable housing to Nigerian workers in a structured manner. Under the scheme, FMBN would provide affordable housing estate construction finance through reputable developers under the Bank's co-operative housing development loan portfolio. Next, the FMBN will provide mortgage loans of up to N15million to the members of the co-operatives at a nine percent interest rate per annum with tenors of up to 30 years depending on the contributors' age through primary mortgage institutions. Back then, Fashola commended the Board and Management of FMBN for the push to deliver affordable housing to Nigerians using Cooperative Societies and the collaboration with built industry professionals to deliver on quality. "This string of partnerships, including subscribers who want a house, who are ready to pay for it, who can afford it; the developer who is committed to delivering it, an architect who can meet the needs of the subscribers and most importantly a bank that can translate their dreams and vision into an actual homestead, where people can say I have shelter, is important and we want to do more of it." H.E. Babatunde Fashola said. The Minister decried the prevalence of empty houses in Nigerian cities. He said that they speak eloquently to the problem that FMBN in collaboration with the Developer, have solved for members of Akacare Cooperative Society. "You will hear those 150 houses are already fully subscribed. That means they are affordable. You will hear that 77 units are ready, which means there is a waiting list of ready offtakers as distinct from an empty house that nobody can afford. Therefore, co-operatives have become a critical tool to address this problem." Under the National Housing Cooperative Development Scheme (NHDS) framework, the Minister stated that the government expects Nigerian workers to organize

For a long time, co-operatives have been proven as functional frameworks for empowering those who fall within the low-medium income bracket. And it's a good thing that FMBN is championing its use in delivering affordable housing to Nigerian workers

themselves into co-operatives to ensure financial visibility. They are to acquire their land, design the types of houses they plan to build, get proper titles for the land and a planning permit, after which they can approach FMBN for a loan. Patrick Ekpe is the President of the Akacare Cooperative Society and a proud owner of a 3-bedroom fully detached bungalow in the estate. "The constant increase in the cost of renting in the FCT pushed us to form the Akacare Cooperative and work towards owning our homes. Our members are civil servants who contribute to the National Housing Fund (NHF) Scheme. We came together with a common goal, engaged Perfect Estate Developers Limited, and later met with FMBN to develop the framework for building this estate. The choice of design and variety of sizes was intended to cater to the co-operative's diverse membership. We have the two-bedroom semidetached; we have the three bedrooms, and we have duplexes as well. So, for most of our members, affordability is critical; we consider the affordability on what is your capacity to take on what you want to do". "Over the 20-years that I started working and contributing to the NHF Scheme, I never knew it would be possible to use that to own a home of my own. I have missed many opportunities to acquire a house because of the many challenges that we face. Because we formed a Co-operative, we have been able to get to where we are today. I feel lucky as a happy owner of a 3-bedroom detached bungalow. That's why I say a big thank you to federal mortgage bank". AkaCare Co-operative society is one of many co-operatives in the country that is benefiting from the resolve of the FMBN to boost homeownership for Nigerians. The Bank has about forty (40) co-operative housing development loan projects that are ongoing nationwide with a projected delivery of about 2,570 housing units. The Akacare illustration and the forty projects spread across the six geopolitical zones should encourage other co-operatives to take advantage of the favorable government posture and the institutional framework provided by the FMBN to put smiles on the faces of their members. Delivering Houses through Co-operatives – The Global Perspective For a long time, co-operatives have been proven as functional frameworks for empowering those who fall within the low-medium income bracket. And it's a good thing that FMBN is championing its use in delivering affordable housing to Nigerian workers. From the onset of industrialization, housing co-operatives served as a solution to the desperate housing conditions of Europe's working classes. By the early 20th Century, housing co-operatives were more or less common throughout Europe. In particular, after World War I and World War II, they assumed a crucial role in rebuilding the damaged housing stock. Nowadays, according to the Co-operative Housing International, 27 million Europeans live in housing co-operatives. Although the trend of a more robust privatedriven housing market continues, housing co-operatives remain Sweden's most affordable form of tenure, representing 22% of the total housing stock. Housing co-operatives are increasingly relevant as a housing strategy for the urban poor in Africa. In Egypt, for example, co-operatives were established already at the beginning of the 20th Century, as part of the anti-colonial struggle. Housing co-operatives emerged as a result of individual initiatives with some State support in 1930. State support significantly increased from the 1970s onwards, when housing co-operatives also became part of a slum eradication strategy. Today, Egypt counts 2,320 housing co-operative societies accounting for half a million dwelling units23. Sub-Saharan Africa, however, only saw the emergence of housing co-operatives in the 1960s after many countries had gained independence. Many housing co-operatives explicitly promote sustainable lifestyles, emphasize the importance of communal spaces, and are trend-setters in promoting energy efficiency, sustainable building technologies, livable neighborhoods, and cities. -Ajene is a public policy analyst based in Abuja.

T H I S D AY ˾ WEDNESDAY ͯͯ˜ ͰͮͰͯ

CRIME&SECURITY

Orphaned by Bandits Musa and his brother Ahmed, whose parents were killed by bandits in Tsauwa village of Batsari Local Government Area of Katsina State, have been left on the street without parental care as their sisters were also massacred in the same attack, writes Francis Sardauna

he National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Lagos Zonal Command recently joined the world to commemorate the 2021 World Day against Human Trafficking in Persons. Themed "Let the Voices of Victims Lead the Way", NAPTIP and stakeholders from the International Organisation for Migration (IOM), the Lagos Chamber of Commerce, Legal Hub University of Lagos, Live Abundantly organisation, among many other non governmental and government agencies staged a road walk to create awareness about the menace. Led by the Lagos State Zonal Commander, Mr. Agaran Alao, the road walk, which was to sensitise the public and create awareness on human trafficking and its negative effects, started from NAPTIP Lagos office in GRA, Ikeja to Allen Junction in Ikeja. During the walk, NAPTIP officials distributed leaflets containing information about the dangers of human trafficking and why they should stay away from it. It also contained contacts to call. Speaking at the walk, Alao said the theme was apt as the voices of survivors of human trafficking, sex slavery tell a true rhetoric of the danger inherent in human trafficking. He said "This year's day against human trafficking is dedicated to victims of human trafficking. We want to ensure that the rights of the victims and survivors of human trafficking is protected. We want to use the occasion to create awareness on the situation of the victims. The theme of this year's day on human trafficking is that victims' voices lead the way and we want to ensure that whatever we are doing, the victims are part of it. "We want to create a survivor advocacy group where a lot of things can be done for them. We want them to be empowered and not be re trafficked .We want them to be empowered to live well in the society". He further hinted that over 300 persons have been rescued from countries they were trafficked to by the Lagos Zonal Command this year, Musa and Ahmed adding that all hands must be on deck to fight the menace. the victims. They are the ones Associate Professor Iyabode Ogundithat have been through all the ran representative of Anti- human horror. They are in the position Trafficking Hub, University of Lagos, to tell those intending to travel said the scourge of human trafficking illegally their experiences so is all over the world and creating as to dissuade them from being awareness of the victims' plights should trafficked." be a continuous exercise. She urged One of the rescued girls ,19 years members of the public to be careful old Bella John said " I am from not to fall prey to the trafficking ring. Delta state. I lost my dad and Sister Felicia of the Bakhista Foundaa neighbour we know as Mama tion urged the government to address called me to her room. She told the push factors fuelling illegal mime she had sales girl job for me gration, adding that "the push factor in Benin city Edo State but she has also been poverty. People who said that I should not inform cannot get better opportunity to get anyone that we are traveling. jobs, and live a good live can easily get deceived to come for job offers but on getting there, the story changes. There is no work but sex slavery. The issue of parental care for children is important so that a neighbour will not take advantage of a mother or father not being in the lives of children to deceive and traffick them". The National Coordinator of the Network Against Child Abuse, Trafficking and Labour (NACTAL), Mrs. Morenike Moribeoje said all hands must be on deck to fight human trafficking and build a strong society that values the lives of young Nigerians. Mrs Bumi Laja of the Live Abundantly Organisation said " Let's hear from

I left Delta State with her and we got to Benin. She took me to Lagos where we moved by road to Mali. It was after we got to Mali that I was told it was prostitution work. I felt bad. "Luckily, some girls she put me up with, about fifty of them decided to ran away. Some of them succeeded in escaping, they were the ones who reported to the embassy. That was how I was rescued and brought back to Nigeria". Another trafficked survivor, Becky John said she is happy

Some people attacked our village (Tsauwa) last year and killed my father, Muhammed and our mother, Fatima. They also killed my elder sisters—Khadijah and Hafsatu. They attacked the village in the night and after their operation, I saw the lifeless bodies of our father, mother and two of my sisters

to be back in Nigeria. She said " There is no job outside the country but sex slavery. It is horrible and I suffered all the time I was there in Ghana. I was lucky to escape and be rescued to Nigeria. I am going about preaching to young girls to be patient in Nigeria and not be deceived that there is good job in other countries. What the traffickers are taking you to do there is prostitution". One of the rescue agencies in the United Arab Emirate, Abigail Foundation urged the government to provide jobs for the teeming youth especially those who who have completed their secondary education. Mrs Abigail said " Nigerians are the traffickers. They seize their passports and visa and threaten the girls that if they are not sleeping with men,they will kill their parents and other family members in Nigeria. "The trafficked girls are called okada riders and they have what they nicknamed as pit where these girls sleep with these men. They beat them up when they refuse to work. This pit can be a construction site, a forest, bush, anywhere. The madam is very cruel and there are cult boys who also participate in the trafficking ring and are used to threaten the girls to meet with men for money ".

T H I S D AY ˾ ͯͯ˜ 2021

BUSINESS/MONEYGUIDE

Group Urges Nigeria, Others to Adopt Renewable Energy Adibe Emenyonu ÓØ ÏØÓØ ÓÞã Environmental Rights Action/ Friends of the Earth Nigeria (ERA/FoEN) has urged African countries to urgently embrace renewable energy sources so as not to be left behind in the ongoing rapid global movement from dirty energy to clean energy. The environmental rights group stated that time was running out against African countries in catching up with the rest of the world by their slow approaches to accepting and investing in solar energy. Executive Director of ERA/ FoEN, Dr. Godwin Uyi Ojo gave this advice in a keynote address on, “Transitional Justice and Nigeria Beyond Oil,” during a two-day conference on Climate Justice held in Port Harcourt. He stressed the need for African countries, particularly Nigeria to divest funds from fossil fuels to renewable energy. Ojo noted that whereas on a global level, countries are making comprehensive plans to transit from fossil fuels to renewable energy sources and cleaner technologies by the year 2030 in line with the Paris Agreement

of 2015, Nigeria was still neck deep in seeking investments for oil prospecting. According to him, by 2025, some European countries have committed to end production of petrol-diesel cars and fully embrace renewable energy. He said there are trade-in schemes to get rid of petrol-diesel cars in place of the emerging and fast spreading electric cars in developed countries, adding that Africa. “There is the genuine fear of energy colonialism if all the disused and obsolete energy systems and petrol engines and vehicles are shipped to Africa as Greek gifts or even for sale, “he said. Oko noted that if the above is allowed to take place, it means that the third world countries would be a dumping ground which will have serious impact on the environment, health and general well being of the people. “How will Africa react to this pending crisis waiting to happen and how will the rich countries respond to this during the COP 26 coming up in Glasgow later in the year

Dr. Ojo rhetorically asked? Transitional justice requires that rich countries pay ecological debts to compensate for Nigeria’s stranded assets such as oil and gas reserves, account for the historical carbon emissions released into the atmosphere and address loss and damage for fairness and equity including payment of compensation to victims of climate change, “he declared. While reasoning that Nigeria beyond oil is very feasible with several benefits accruable to the country, the Executive Director of ERA/FoEN noted that his organication and its allies including civil society groups, communitybased organizations, community representatives across Nigeria have recognized the urgent need for energy transition from fossil fuels to renewable energy. He however, expressed displeasure over the slow migration from dependence on fossils by the federal government which is still neck deep in seeking investments for oil prospecting especially in the Gongola/ Chad Basins and has committed billions of dollars to the expansion of Nigeria’s oil and gas reserves.

FG Seeks Private Sector Partnership on Water Resources Udora Orizu ËØÎ Folalumi Alaran ÓØ ÌßÔË The federal government has called for effective partnership with the private sector in order to maximise the economic benefit of the nation’s water resources. The Minister of Water resources, Suleiman Adamu, made the call in Abuja, at a workshop on the draft of National Water Source Protection Policy. He said the water sector has huge challenge in the cost mechanism management and the government alone cannot manage it efficiently. He explained that the country comprises of 37 water agencies which are inefficient and the critical infrastructures may not be reliable as adequate maintenance have continued to deteriorate over time. Adamu said, “As we all know, protecting of water sources is critical to the suste-

nance of life and this means the adequate management of our water sources in an integrated manner is an important element to human livelihood as well as being key to prosperity. To address security issues related to Water Source, a partnership approach is being proposed, involving Federal, State, Local, or Communal government entities; private sector owners, operators and representative organizations; academic and professional bodies; and certain not-for-profit and private volunteer organizations that share in the responsibility for protecting the Nation’s critical sector assets.” On her part, the Permanent Secretary of the Ministry, Mrs. Didi Walson-Jack said the shortcomings in the water sector have been adequately addressed with the new draft policy. She assured that the policy when finalized will better serve

and provide for enhancement of the sector in line with global best practices thereby creating environment for public and private sector investments. Earlier in his remarks, the Executive Director, Nigeria Integrated Water Resources Management Commission (NIWRMC), Umar Magashi said the policy draft is in line with already existing policies while taking into considerations the latest development in the sector. “The journey to the draft policy before us today started with its approval by the National Council on Water Resources 2017, led to the inauguration of a special National Technical Committee (experts) in 2018 which produced this draft policy. It is worthy to note that this draft policy has been subjected to experts and relevant stakeholders in the sector for professional inputs prior to this validation workshop, “he added.

FG Initiates National Multidimensional Poverty Index Survey Olawale Ajimotokan ÓØ ÌßÔË The federal government has announced the kickoff of the Multidimensional Poverty Index (MPI) Survey. The MPI Survey was virtually launched yesterday by the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq. She said Nigeria has now joined many countries that have moved towards improving the efficiency of their decision-making processes through the evidence generated by MPI. She noted that the consensus around the use of the MPI emerged from different approaches and

global agreements, including the Millennium Development Goals (MDGs), which have been replaced by the Sustainable Development Goals (SDGs) to cover the multiple aspects of deprivation at the core of poverty and their inter-linkages. The minister listed the multistakeholder evidence generated by the MPI to include poverty eradication, zero hunger, quality education, climate action and inclusion. “This aspiration takes into cognisance the country’s current estimated population of about 200 million people, as well as the need for better evidence for programming. “The Ministry of Humanitarian Affairs, Disaster Management and Social Development

therefore, stands ready to collaborate with different government agencies, donor organisations and private investors to shape policies and drive real impact in the use of MPI data to foster government accountability to citizens through improved multi-sectoral interventions targeted at the root of deprivations,” she said. She added the ministry will collaborate closely with the National Bureau of Statistics (NBS) to conduct regular multidimensional poverty measurements alongside monetary measures at both national and sub-national levels to ascertain the true poverty status of Nigeria and use the findings to shape policy and programming.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͯͳ ͰͮͰͯ

The price of OPEC basket of thirteen crudes stood at $73.15 a barrel on Thursday, compared with $75.29 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ͯͯ˜ ͰͮͰͯ

Gains in Airtel, MTN Nigeria, Others Drive Stock Market by N317.5bn Darasimi Adebisi The Nigerian equities market rebound yesterday following investors renewed interest in Airtel Africa Plc, MTN Nigeria Plc, and 20 others to drive the market by N317.5billion. The stock market started this week on a negative note, dropping by N126.9billion as investors profit-taking in Dangote cement Plc, Zenith Bank Plc were among

the top losers. At the close of trading yesterday, the Nigerian Exchange Limited (NGX) market capitalisation appreciated by 1.6 per cent or N317.48billion to close at N20.411 trillion from N20.094trillion it opened for trading. In the same vein, the NGX All-Share Index that tracked all stocks listed on the Exchange appreciated by 1.6per cent or 609.36basis points from 38,567.26

P R I C E S MAIN BOARD

F O R DEALS

basis points to 39,176.62basis points yesterday. Accordingly, the stock market Month-to-Date gain increased to 1.6 per cent, while the Year-to-Date loss moderated to -2.7per cent. On sectors, the NGX Insurance (-0.2per cent), Consumer Goods (-0.1per cent) and Industrial Goods (-0.1%) indices recorded declines while the Oil & Gas (+0.1per cent) index was the lone gainer yesterday.

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Meanwhile, the NGX Banking index closed at 378.89 basis points from 378.98 basis points it close yesterday. As measured by market breadth, market sentiment was positive, as 21 stocks gained, relative to 16 losers. Airtel Africa plc with 10 per cent ot N65.00 topped the gainers’ chart yesterday to close at N715.00 followed by Unity bank that gained 7.14 per cent

T R A D E D MAIN BOARD

A S

or N0.04 to close at N0.60 per share. Stock price of Veritaskap Plc appreciated by N4.35 or N0.01 to close at N0.24 while Courtville Business Solution rose by 4.17 per cent or N0.01 to close at N0.25 per share. Juli with 9.01 per cent or N0.10 drop in stock price to N1.01 and CHI Plc that dropped by 6.90 per cent or N0.04 to close at N0.54 were the most significant losses of yesterday

O F

Jaiz bank Plc depreciated by 4.84 per cent or N0.03 to close at N0.59 per share. Sunu Assurance Plc was down by 4.26 per cent or N0.02 to close at N0.45 and Livestock down by 3.06 per cent or N0.06 to close at N1.90 per share. The total volume of trades increased by 155.8per cent to 474.53 million units, valued at N3.98 billion, and exchanged in 4,161 deals.

1 0 / 0 8 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAY AUGUST 11, 2021 • T H I S DAY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 09Aug-2021, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 156.64 158.20 -3.17% Afrinvest Plutus Fund 100.00 100.00 4.69% Nigeria International Debt Fund 312.36 312.36 -22.58% Afrinvest Dollar Fund 111.24 111.24 -0.76% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 5.23% AIICO Balanced Fund 3.24 3.40 -4.75% info@anchoriaam.com 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 7.77% Anchoria Equity Fund 137.74 139.32 3.56% Anchoria Fixed Income Fund 1.11 1.11 -16.74% 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 19.65 20.24 8.36% ARM Discovery Balanced Fund 428.77 441.70 7.09% ARM Ethical Fund 38.24 39.39 13.43% ARM Eurobond Fund ($) 1.09 1.09 -1.04% ARM Fixed Income Fund 0.97 0.97 -7.86% ARM Money Market Fund 1.00 1.00 7.96% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.61 105.61 3.83% AVA GAM Fixed Income Naira Fund 1,015.99 1,015.99 1.60% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 2.26% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 8.00% Paramount Equity Fund 16.52 16.82 3.28% Women's Investment Fund 136.73 138.31 2.74% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 7.24% Cordros Milestone Fund 2023 118.30 119.05 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 107.66 107.66 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 7.44% Coronation Balanced Fund 1.19 1.20 -1.00% Coronation Fixed Income Fund 1.36 1.36 -13.93% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 8.43% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 7.21% EDC Nigeria Fixed Income Fund 1,141.78 1,157.13 -0.88% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,399.78 1,399.78 11.35% FBN Balanced Fund 191.79 193.16 2.19% FBN Halal Fund 111.72 111.72 7.79% FBN Money Market Fund 100.00 100.00 9.60% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

126.55 158.08

126.55 3.55% 160.30 4.56% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.96 1.58 1.18

Offer Price Yield / T-Rtn 1.00 5.54% 3.96 2.38% 1.61 3.85% 1.18 4.11% coralfunds@fsdhgroup.com

Bid Price 3,719.91 3,358.16 100.00

Offer Price 3,772.48 3,358.16 100.00

Yield / T-Rtn -0.69% 2.50% 3.82%

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 7.88% Vantage Balanced Fund 2.71 2.77 -5.12% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 152.10 152.37 -2.19% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.44% Vantage Dollar Fund (VDF) - June Year End 1.10 1.10 0.83% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.42 1.44 4.17% Lotus Halal Fixed Income Fund 1,141.42 1,141.42 5.14% 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 11.45 11.51 9.41% Meristem Money Market Fund 10.00 10.00 7.67% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.42 134.00 11.21% 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 10.08% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,272.31 3,307.26 1.89% Stanbic IBTC Bond Fund 232.09 232.09 3.22% Stanbic IBTC Ethical Fund 1.22 1.23 3.81% Stanbic IBTC Guaranteed Investment Fund 305.48 305.48 3.67% Stanbic IBTC Iman Fund 224.10 227.42 2.68% Stanbic IBTC Money Market Fund 100.00 100.00 8.14% Stanbic IBTC Nigerian Equity Fund 10,341.80 10,491.47 -1.44% Stanbic IBTC Dollar Fund (USD) 1.27 1.27 3.31% Stanbic IBTC Shariah Fixed Income Fund 115.19 115.19 3.70% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 102.86 102.86 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.30 1.32 1.55% United Capital Bond Fund 1.90 1.90 4.02% United Capital Equity Fund 0.87 0.89 9.19% United Capital Money Market Fund 1.00 1.00 9.53% United Capital Eurobond Fund 119.52 119.52 4.43% United Capital Wealth for Women Fund 1.06 1.07 3.53% United capital Sukuk Fund 1.06 1.06 5.88% 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 12.92 13.03 8.84% Zenith Ethical Fund 14.25 14.38 16.65% Zenith Income Fund 24.26 24.26 1.17% Zenith Money Market Fund 1.00 1.00 6.32%

REITS NAV Per Share

Yield / T-Rtn

125.18 51.80

10.79% 2.67%

Bid Price

Offer Price

Yield / T-Rtn

13.36

13.46

1.09%

122.23 96.58 17.86 18.14

125.28 98.70 17.96 18.24

1.66% -2.65%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund

SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

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

3.91 5.91 17.46 1.00 19.26 152.27

3.95 5.99 17.56 1.00 19.46 154.27

3.54% 3.84% 7.59% 6.32% -6.09% -30.53%

NAV Per Share

Yield / T-Rtn

107.40

13.11%

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 11, 2021 • T H I S D AY

WEDNESDAY AUGUST 11, 2021 ˾ T H I S D AY

NEWS

Police Trust Fund Awards Contracts for Procurement of Arms, Ammunition Kingsley Nwezeh in Abuja The Police Trust Fund (PTF) has awarded contract for the procurement of arms and ammunition for the Nigeria Police, Minister of Police Affairs,

Hon. Muhammed Dingiyadi, has said. The minister, who made the disclosure yesterday in Abuja, also said that the federal government approved N4 billion for the purchase of fuel for

NIS Introduces Code of Conduct, Electronic Data Management System Michael Olugbode in Abuja The Nigeria Immigration Service (NIS) has released a code of conduct for its officers and men, just as it unveiled an electronic data management system (EDMS) as part of efforts to achieve a paperless system. Launching the two initiatives in Abuja yesterday, the Minister of Interior, Mr. Rauf Aregbesola, expressed optimism that they would take the NIS to the next level, improve efficiency and make its officers and men a pride of the nation. He said the launch of the Code of Conduct and Ethics Document for the NIS was not only timely, but apt especially for the service whose critical

mandates demand that its Officers and Men regularly display the highest level of discipline, diligence, promptness, vigilance and transparency in operations and activities. Aregbesola said: “As the gatekeeper of the nation, NIS cannot but regularly showcase the cherished virtues of integrity, courtesy, sound morality and uncommon transparency in its official conducts. “The mirror of the largest black nation of the world which the NIS represents, must not only be crystal clear at all times but must be attractive, courteous, engaging and pleasant.”

fueling of police vehicles and supply of fuel to the 36 states police commands in order to enhance its operational efficiency. Speaking during the presentation of a paper titled, “Strategic Leadership Development: The Role of the Ministry of Police Affairs” with the course participants of

the Strategic Leadership and Command Course 3/2021 at the National Institute of Police Studies in Abuja, the minister said the Police Trust Fund awarded contract for the procurement of arms and ammunition, body protection, operational vehicles among others.

“The ministry is deeply grateful to Mr. President and the National Assembly for approving funds for the supply of fuel to the 36 states police commands across the country and FCT to increase their efficiency. “As we speak the Police Trust Fund has awarded

contracts for the supply of more operational vehicles, body protection vest and helmet, arms and ammunitions, drugs and medical equipment and other critical security hardware”. Dingyadi said the Ministry of Police Affairs made training and development of police officers top priority.

COURTESY VISIT…

Chairman of Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu (left), with the Commandant-General, Nigeria Security and Civil Defence Corps (NSCDC) Dr. Ahmed Audi, during Audi’s visit to INEC in Abuja…yesterday

Lagos Explains Loan West African Countries Urged to Take Conversion Approval by Advantage of Energy Potential House of Assembly Tunis, during the ongoing He added that the region all this enviable resources. Michael Olugbode in Abuja Segun James Following reports from the Lagos State’s House of Assembly that it has granted the government the go-ahead to take over the Lekki Concession Company (LCC), the state government has made further clarification on the issue. The government in a statement by the Commissioner for Information and Strategy Mr. Gbenga Omotoso has said: “its request was to convert the African Development Bank loan from a private sector (commercial) loan to a sovereign (public sector) loan, which attracts a lower interest rate. This will enable the company to make some savings.” Omotoso explained that the government, in fact, acquired

the full shares/equity of the former owners of the company in 2014, noting that there was no need to take such a request to the House. The commissioner said: “Following the Lagos State Government’s full ownership of LCC in December 2014, the loan became eligible for conversion to a Sovereign facility with an attendant significant lower interest rate of LIBOR plus 80 basis points and extended tenor. In the recent past, there have been discussions amongst LCC/ LASG, AfDB and the relevant Federal Government Ministries and Agencies concerning conversion of the loan to a Sovereign facility. Upon the completion of the conversion, there will be a significant reduction of applicable interest rate and extended tenor.

Countries in the West Africa sub-region have been advised to exploit the huge energy potentials in the region to industrialise their economies. The advice was given by the Speaker of the Economic Community of West African States (ECOWAS) Parliament, Honourable Sidie Mohamed

“Delocalised Meeting of ECOWAS Parliament Joint Committees on Energy, Mines, Industry, Private Sector and Environment,” which is holding in Abidjan, Cote D’Ivoire Tunis said that West Africa is sitting on top of 17 billion tons of proven oil reserves, which should not be made to mean nothing.

is also blessed with 25,000 megawatts of hydraulic power potential in five countries including Nigeria and 5.2 billion metric tons of proven natural gas reserves, which is about 30 percent of the reserves of Africa. The speaker, however, lamented that only 52 percent of people living in West Africa have access to electricity despite

Tunis stated that “the energy sector in the region is beset by a myriad of challenges, which include poor governance and weak capacity for planning and implementation. “Another challenge is the uneven distribution of the energy resources of the region. Nigeria alone sits on top of more than 90 percent of oil resources here.”

Fayemi Announces Restriction as Ekiti Records 180 Covid-19 Cases Victor Ogunje in Ado Ekiti The Ekiti State Governor, Dr Kayode Fayemi, has reintroduced restriction in public places as Ekiti recorded 180 new cases of COVID-19 in the third wave of the pandemic between July and August, 2021. Determined to stem the tide of the lethal infection, the governor has imposed restrictions on social, religious,

political gatherings across the state and directed transporters to reduce the number of passengers by half. Fayemi, at a press conference addressed on his behalf by the Commissioner for Health, Dr Oyebanji Filani, yesterday in Ado-Ekiti, noted that all efforts must be geared towards stopping the further spread of the deadly variant in the state. He said the state had recorded

95 cases in July and frighteningly 85 cases in the last few days in the month of August, adding, “ we are constrained to respond to this development with the following non-pharmaceutical control measures, which remain our best means of containing the pandemic in the state.” The governor added that the patients are stable across the isolations centres in the state, advising residents to go

about their businesses with strict adherence to the safety protocols, saying, “ we must never trivialise the danger that COVID-19 continues to pose to us. “We must ensure we do not have a reversal of fortune. We cannot afford a community infection that could easily overwhelm our capacity and return us to another round of stay-at-home with even more stringent measures.”

No fewer than 24 persons have been confirmed dead as a result of suspected case of food poisoning in Sokoto State. The State Commissioner for Health, Dr. Ali Inname, disclosed this in a statement yesterday, saying the victims were within a single household in Danzanke

Government Area of the state. The commissioner said the deceased used fertilizer type known as “Gishirin Lalle in Hausa”, as seasoning in cooking food, instead of common salt. “Regrettably, the entire family who had the meal lost their lives, except two female members, who merely tested the food

to treatment, with very good chance of survival. “Attempts to save the lives of all the affected people by providing the needed medical care, proved abortive,” Inname stated. The commissioner, therefore warned the general public to “learn from this incidence and

prevent such reoccurrence in their families, as now experienced in Sokoto state and Zamfara earlier in the year. “It is very important for the public to know that this incidence, though preventable and not contagious, is extremely fatal even with best of medical attention and care,” he further stated.

More Tributes as IBEDC, Odubu, Suspected Food Poisoning Kills 24 in Sokoto Others Mourn Okunbo village of Bargaja ward, Isa Local and are currently responding always be cautious in order to Onuminya Innocent in Sokoto Kemi Olaitan in Ibadan and Adibe Emenyonu in Benin City

The Ibadan Electricity Distribution Company (IBEDC) Plc has mourned what it described the untimely passing of its esteemed investor and pioneer Director, Captain Dr. Idahosa Wells Okunbo, died on August 8,2021, in the United Kingdom at the age of 63 years. A statement signed by the Chairman of the Board of Directors of IBEDC, Mr. Olatunde Ayeni, on behalf of board, management and staff, and made available to THISDAY, yesterday, noted that, late Okunbo with his sagacious business acumen was extremely pivotal to the establishment of IBEDC and was very involved in piloting the smooth growth

of the company to the enviable heights it has achieved. “His chain of businesses spanned across the gamut of hospitality, security, real estate, oil servicing, and agriculture. A renowned and accomplished business mogul, who contributed immensely to the development of the Nigerian economy by providing jobs and substance to thousands of his fellow countrymen and women through his diverse and extensive businesses. “We have lost a distinguished Nigerian, an illustrious businessman with a heart of gold,” he said. Ayeni while describing Capt. Okunbo as one of Nigeria’s most outstanding philanthropist, said his death has created a huge vacuum that would be difficult to fill.

Pirates Abduct Five Persons at Bonny River EmmanuelAddehinAbuja At least five persons were yesterday abducted at the Bonny River, close to the Federal Ocean Terminal, Onne, after a seven-month reprieve that had seen the frequency of attacks minimised. An official of the Bonny Youth

Federation (BYF), who preferred anonymity, revealed that the attacked speedboat was a one outboard engine powered speedboat that carries 10 passengers which was on its way from Bonny to Port Harcourt early in the morning. He narrated that five of the passengers were abducted and

the other passengers allowed to continue the journey to Port Harcourt, adding that the abductees were yet to be identified and their destination yet unknown. Calm had returned to the waterways around the areas after the Isaka 12 abduction incident in January, who were eventually

released in February. Officer-in-Charge of the Marine Police in Bonny, Solomon Adeniyi, a Superintendent of Police, was quoted as confirming the incident, disclosing that “five people were kidnapped after Onne on a 10 passenger speedboat around 07:30 a.m.”

WEDNESDAY AUGUST 11, 2021 ˾ T H I S D AY

NEWS XTRA

New York Governor, Cuomo, Resigns after Sexual Harassment Allegations Peter Uzoho with agency report

New York Governor, Andrew Cuomo yesterday announced he would resign after a withering report from the state’s attorney general documented multiple accusations of sexual harassment against women. The decision heads off his almost certain impeachment and conviction in the state Legislature. “Given the circumstances, the

best way I can help now is if I step aside and let government get back to government, and therefore that is what I’ll do, because I work for you, and doing the right thing, is doing the right thing for you,” the nbcnews quoted Cuomo to have said in a televised address, at which he took no questions. Lt. Governor Kathy Hochul, a fellow Democrat, will serve the rest of his term when the resignation becomes effective

in 14 days. She will become the state’s first female governor. Though Cuomo, 63, apologised to his accusers, he made it clear he did not believe he stepped over a red line requiring removal from office. Instead, he framed his

decision as one necessary to avoid protracted argument and divisiveness that would bring the state’s government to a halt. “It is a matter of life and death,” he said, referring to the immediate need to combat Covid. “Government operations and wasting energy on distraction is

the last thing government should be. I cannot be the cause. New York tough means New York loving. “And I love New York and I love you. Everything I have ever done has been motivated by that love and I would never want to be unhelpful in any way,” he said.

Speaking to his three daughters, Cuomo said, “I want them to know from the bottom of my heart that I never did and I never would intentionally disrespect a woman, treat any woman differently than I would want them treated, and that is the God’s honest truth.

Osinbajo: We will Complete All Critical On going Projects in Niger Delta Deji Elumoye in Abuja Vice President Yemi Osinbajo has given an assurance to the people in Niger Delta that the present administration will ensure completion of all critical on-going projects in all the nine oil producing states in the region. This assurance, he said, was aimed at fulfilling the President Muhammadu Buhari administration’s New Vision development agenda for the oil-rich region. Osinbajo, who was represented by the Senior Special Assistant to the President on Niger Delta Affairs, Office of the Vice President, Mr. Edobor Iyamu, stated this yesterday in Lagos at the 6th Anniversary Lecture/ Niger Delta Awards Organised by Gbaramatu Voice Newspaper. According to him, “in 2017,

following my tour of the Niger Delta, which involved extensive consultations with key stakeholders in the region, the New Vision for the Niger Delta was birthed in response to the various challenges which had been plaguing our people. “The objective of this New Vision is to ensure that the people of the region benefit maximally from their wealth, through promoting infrastructural developments, environmental remediation and local content development.” The VP said the administration’s Niger Delta New Vision initiative has recorded some landmark achievements in the areas of education, environmental remediation, infrastructure and local content development, among others.

WEALTH CREATION…

L-R: Managing Director, Futureview Asset Management Limited, Ms Ugochi Nnodi; Group Executive Director, Futureview Group, Mr. Diamond Uju; Group Managing Director, Futureview Group, Mrs. Elizabeth Ebi; Head, UBA Global Investor Service, Mrs. Taiwo Sonola; and Managing Director, STL Trustees Limited, Mrs. Funmi Ekundayo, at the signing ceremony of Futureview Equity Fund in Lagos…recently

Two Abducted Persons Regain Freedom in Ekiti Two persons abducted last Friday evening along Ayetoro-Ekiti and Ewu-Ekiti in Ilejemeje Local Government Area of Ekiti have regained their freedom following payment of ransom after four days in the kidnappers’ den. According to the News Agency of Nigeria (NAN), the kidnappers had earlier contacted the family members of their victims, demanding N50 million ransom before they could be let

off the hook. Mr. Olusegun Erinle, a family friend of the abducted persons, confirmed to NAN the release of the people after paying ransom. Erinle, however, declined to disclose the amount paid, as he simply responded to NAN’s enquiry that, “an undisclosed ransom paid”. NAN reported that victims of the kidnapping had been in Ewu-Ekiti in Ilejemeje Local

Government Area of Ekiti since Thursday for the burial of Mrs. Florence Tuyole Erinle, mother of Olusegun Erinle, a former lawmaker in Ekiti. It was gathered that the two abductees were released last night at about 7:50 p.m in IkunEkiti, Moba Local Government Area of the state. NAN also gathered that the abductees were driven to the heart of the town, Ikun-Ekiti,

after which they went to the palace of the Onikun of IkunEkiti where the traditional ruler received them. When contacted, the Police Public Relations Officer in Ekiti Command, ASP. Sunday Abutu, confirmed the release of the victims. Abutu said that he would find out to know the veracity of the claims and the circumstances that surrounded their freedom.

is always tinkering on new ways and improving synergy and collaboration through community policing/technicallydriven strategies in fighting the menace of all kinds of crime.” The Chief Executive Officer of Badinson Security, Mathew Ibadin wrote, “ This is a loss whose impact will be strongly felt by many because Chief Dr. Ona Ekhomu was a visionary to be reckoned with.

“He was my teacher, he delivered a lecture organised by PCRC Victoria Island on Practical Implementation of Community Policing. “He was one who had the interest of the community at heart and always at the fore to fight again any form of crime. “Chief Ona was an icon in the security industry. He encouraged me to register my security company because he was enthusiastic about progress and development of those around him.

DPR Eyes $500m Fresh Investments in Domestic Security Sector Mourns Ekhomu Gas Value Chain Operators of Nigeria (AISSON) arena of low intensity warfare. Chiemelie Ezeobi International in Nigeria, died on “A professional whose mind Peter Uzoho

The Department of Petroleum Resources (DPR) is anticipating fresh investments valued at over $500 million from investors who have indicated interest to invest in the domestic value chain of the Nigerian gas sector The investment value, according to the Director of DPR, Mr. Sarki Auwalu, was derived from the total estimate of the domestic gas supply targets of the individual investors cumulating to 500 million standard cubic feet of gas per day (mmscf/d) addition into the domestic gas market. Auwalu disclosed this to journalists yesterday in Lagos during his presentation on the agency’s scorecard after one year of operationalising the Nigerian Gas Transportation Network Code (NGTNC) which was formerly

launched on August 10, 2020. He said the expected investments resulted from the confidence boost received by the intending investors after being convinced about the benefits and opportunities inherent in the gas network code The NGTNC which is one the critical vehicles towards realising the Nigerian Gas Master Plan, among others, was intended to provide a uniform commercial and technical gas transportation and distribution framework. It was also tailored towards deepening the development of the Nigerian domestic gas market segment across its extensive value chain, support the sustainable growth and impact of the gas sector in the economic development of Nigeria, and enhance the ease of doing business in the nation’s energy sector.

Nigeria Solidarity Support Fund Calls for Donations The Nigeria Solidarity Support Fund (NSSF), a non-profit organisation created as a partnership between the international advocacy organisation, Global Citizen and the Nigeria Sovereign Investment Authority (NSIA) is renewing calls for support and financial donations to the fund. The NSSF is an innovative platform for resource mobilisation primarily established to supplement

efforts to mitigate the adverse economic effects of the COVID-19 pandemic on Nigerians by supporting vulnerable members of the population, strengthening the country’s healthcare system and re-skilling the Nigerian workforce for a post-pandemic world. A statement by the group said the strategic priority for NSSF for 2021/2022 is to ensure that one million Nigerians are vaccinated against COVID-19.

Encomiums have continued to pour in for the late Chairman of Transworld Security Systems, Dr. Ona Ekhomu. His death threw the security sector into mourning, especially the private sector, most of whom he mentored to register and start their companies. Ekhomu, a global leader in industrial security and a founding member of Association of Industrial Security and Safety

Monday in Lagos after a brief illness. Former Assistant General of Police Zone 2, AIG Ahmed Iliyasu (rtd), described the deceased as “an iconic security strategist of modern times. “He was always striving in preferring solutions, ways and answers to emerging and new patterns of crime and criminality especially insurgency, banditry, kidnappings, sabotage in the

COVID-19: FG Scores Self High on Interventions Ndubuisi Francis in Abuja The federal government has scored itself high in the management of the COVID-19 pandemic, declaring that since the outbreak of the scourge, its interventions have been proactive and people-centred. But, it pointed out that Nigeria, like most countries in the world, is experiencing a new economic and social reality because of the COVID-19 crisis. Like other primarily oil-

dependent economies, the country, it noted, has been hit hard by the drop in crude oil prices and the COVID 19 pandemic. The Minister of Finance, Budget and National, Mrs. Zainab Ahmed, who presented a keynote address in Abuja, yesterday at a “National Dialogue on COVID-19 Economic Impact and Assessment of National and States Recovery Plan and Policy Options,” said the event provided a critical feedback

as the government continued the implementation of postCOVID-19 recovery plans and develop the next generation medium and long-term national development plans. The event was organised by the finance ministry in collaboration with the Propoor Growth and Promotion of Employment in Nigeria (SEDIN), one of the programmes being implemented in Nigeria by the German Development Agency (GIZ).

According to her, the federal government’s response to the COVID-19 pandemic has been proactive and people-oriented, with an emphasis on human capital development and critical infrastructure. She said: “The pandemic has required that we take a critical look at our health and economic policies, to swiftly introduce crisis management measures, catalyze support to the health sector, and accelerate certain key reforms while reimagining others entirely.

Nigeria Summons Ambassador to Indonesia for Debriefing Michael Olugbode in Abuja The Nigerian Government yesterday summoned its Ambassador to Indonesia, Muhammed Buba Ahmed, for debriefing over the circumstances surrounding the manhandling and arrest of one of Nigerian diplomat in Jakarta. Few days ago, a Nigerian diplomat was manhandled by

Indonesian Immigration Service in Jakarta. Though the Immigration officers involved in the disrespectful treatment were said to have later apologised for their action, and the Indonesian ambassador during summon by the Nigeria’s Ministry of Foreign Affairs had also apologised, the federal government yesterday summoned its ambassador for questioning on

what might have gone wrong. The Minister of Foreign Affairs, Geoffrey Onyeama, who disclosed the invitation of the ambassador at a news conference in Abuja, said the action of the Indonesian officials contravened international law as well as the Vienna Conventions governing diplomatic and consular relations between states. He explained that the

ambassador’s summon was a routine process to throw more light on the immediate and remote causes for the brutal attack on the Nigerian official. The minister also disclosed that the Nigerian Government has equally sent an official protest to the Government of Indonesia on the August 7 incident despite an apology from the host government.

WEDNESDAY AUGUST 11, 2021 ˾ T H I S D AY

NEWS XTRA

Rescue Tegina School Girls, Commissioner Now, PDP Tells Niger Laleye Dipo in Minna The Peoples Democratic Party (PDP) has charged the Niger State Government to immediately facilitate the release of the recently abducted state Commissioner for Information, Alhaji Mohammed Sani Idris, and the 136 Salihu Tanko Islamiyya School girls in Tegina from the clutches of bandits. While the 136 school girls are spending close to three months in captivity, the commissioner was last Sunday night kidnapped by unknown

gunmen. The newly elected state Chairman of the PDP, Mr. Tanko Beji, in his first official statement since his election last Saturday said: “There has been no word or any sign of seriousness from the state Governor, Sani Bello, since the Tegina school girls were kidnapped. “The PDP is totally disgusted and alarmed that over 70 days after the Tegina Islammiyya school children were kidnapped, no word or even mere body movement to show seriousness from the state Governor, Bello.

“With the development, the PDP has no other option than to conclude that the All Progressives Congress (APC) has no business being in any leadership position considering the inept, clueless and classless

leadership they have rendered over the past six years. This is very unfortunate and sad.” The state PDP leader asked: “How does Governor Bello sleep well, eat well, smile and junkets around the world using state

resources knowing that the people he swore to protect are in the hands of daredevil terrorists?” However, he said: “While the PDP conveys it prayers and heartfelt sadness to the families,

we make haste to remind Bello that the primary responsibility of any government is the security of lives and property, especially in this case that involves over 135 children between the ages of five and 15.”

UNICEF: Over Half of Nigerian Children’s Births Unregistered Michael Olugbode in Abuja United Nations Children’s Fund (UNICEF) has decried the low birth registration in Nigeria, stating that more than 50 percent of the births of children under 5 remain unregistered in the country. UNICEF, while lamenting that Africa has the lowest birth registration among all the continents, lamented that the births of 166 million children under 5 have never been recorded worldwide. A statement issued yesterday by UNICEF noted that with only 44 per cent of children registered at birth, even as millions of deaths also go uncounted each year. Nigeria alone accounts for 11 per cent of unregistered children in West Africa.

The statement noted that as Nigeria joined the rest of the world to commemorate the Civil Registration and Vital Statistics (CRVS) Day yesterday, addressing structural, normative and operational challenges to birth registration should be on the front burner. The statement emphasised that birth registration is a one-off event that gives every child a unique identity which will give them better access to vital services like health, education, and social protection. The statement quoted the UNICEF Nigeria Country Representative, Peter Hawkins, to have said: “Every child counts, and we must ensure that we count every child so that they can best benefit from important services like health and education,”

WAEC Commences Exams August 16 Funmi Ogundare The West African Examinations Council (WAEC) yesterday announced its readiness to conduct the West African Senior School Certificate Examination (WASSCE) for school candidates in 2021. The examination will commence throughout the council’s sub-region from August 16 to October 8, 2021, and end in Nigeria on September 30, 2021-a period of seven weeks. The Head of National Office (HNO), Mr. Patrick Areghan, who briefed journalists at a programme to also inaugurate its request management system and WAEC –ChatBot in Lagos, disclosed that the National Identification Number (NIN) would become a major

requirement for registration for the examination with effect from 2022 and subsequent ones. “This means that all prospective candidates must register with the National Identity Management Commission (NIMC) and get their National Identification Number (NIN). This is in line with the federal government’s policy, as directed by the Federal Ministry of Education that ‘No NIN, no entry’,” he said. Areghan gave the statistics of students that would sit for the examination. He said a total of 1,573,789 candidates, comprising 792,620 males (50.36 per cent) and 781,169 females (49.64 per cent) were presented by 19,425 recognised secondary schools across the country, including the FCT, for the examination.

Sailor Missing, 12 Rescued as Vessel Capsizes Near Lagos The Nigerian Navy has rescued 12 crew members of a capsized fishing vessel, named ‘Lady Barbara’, belonging to Seabless Fishing Company Limited. The Commander, Commodore Bashir Mohammed, in a press statement yesterday , said that the crew members were rescued on Thursday while the sailor was still missing. “The Search and Rescue Operation was conducted

following a distress call put across to the Base. “In response to the distress call, the patrol team of the Base, in collaboration with some personnel of the Nigerian Customs, swung into action. “This led to the rescue of 12 out of the 13 crew onboard the vessel at the entrance to the Lagos Harbour and a search for the missing sailor is still ongoing,” he said.

STRENGHTENING UNIVERSITIES…

L-R: Chairman, Governing Council, Nigeria French Language Village, (NFLV), Prof. Remi Sonaiya; Member, Governing Council, University of Maiduguri, Prof. Yisa Kehinde Yusuf; Member, NFLV, Prof Joke Bestman; and Director, NFLV, Prof Tunde Ayeleru, during the inauguration of the governing councils of some universities and inter-university centres in Abuja...... recently

Over 112 Killed in Kaduna, Plateau in 30 Days, Says Amnesty International A global human rights group, Amnesty International (AI), yesterday said the failure of the Nigerian authorities to live up to their obligation to protect the right to life has enabled a month of bloody attacks on both farmers and herders in some parts of Kaduna and Plateau States. In a statement issued yesterday, the body said at least 112 people

were killed, 160 abducted and thousands displaced in communities in Kaduna and Plateau States from July to August 2021. “Our findings show that despite clear signs that there will be retaliatory attacks, enough is not being done to prevent the bloodshed, thereby fueling the ongoing circle of violence. Beyond

issuing statements and condemning attacks after they have happened, the government needs to rein in on attackers and bring suspects to justice,” the Director, Amnesty International Nigeria, Osai Ojigho, said in a statement. Amnesty International’s investigation has also revealed that at least 78 people were killed and 160 abducted by bandits

between July 3 and August 5, 2021, in Kaduna State, including 121 school children of Bethel Baptist Church High School. The group added: “At least 34 people have been killed in Plateau State, including seven herders who were attacked on July 1 at Dogon Gaba, two others were lynched at Fusa village while trying to locate their missing cow.

43 Drug Dealers Arrested as NDLEA Raids Ondo, Nasarawa, Benue Michael Olugbode in Abuja No fewer than 43 dealers and consumers of illicit substances have been arrested in a fresh raid in Nasarawa, Benue and Ondo States by the operatives of the National Drug Law Enforcement Agency (NDLEA), recovering 137.55 kilogrammes assorted drugs. Few days ago, the NDLEA in a coordinated raids of seven states of Ondo, Akwa Ibom, Adamawa, Enugu, Bauchi, Edo

and Anambra seized a total of 8,268.2 kilogrammes of assorted illicit drugs. In the latest raids, according to the spokesman of the NDLEA, Femi Babafemi, in Nasarawa State, “NDLEA operatives backed by a detachment of soldiers from 177 battalion of the Nigerian Army in Keffi, raided notorious drug joints in Kara Masaka, Ruwa Ruwa Uke, Abattoir at the border with Abuja, Filing Bala, Masaka U-Turn and other places for two days, August 5

and 6, 2021, during which at least 41 suspects were arrested and assorted drugs such as cocaine, cannabis sativa, cough syrup (codeine), rohypnol and tramadol with a total weight of 65.250 kilogrammes recovered. He disclosed that cannabis planted by the drug dealers in the adjoining bushes were destroyed while all the stalls in the drug markets were dismantled and set ablaze. Babafemi said in the same vein, operatives of the Ondo

State Command of the agency in the early hours of August 9, 2021, raided Odopetu area of Akure, the state capital, where one Mrs. Folake Ademola, 44, was arrested while her husband fled. Babafemi said recovered from their home included 65.4 kilogrammes of cannabis sativa; skunk, 500 grammes; loud, 16 grammes; and Colorado, 34 grammes, bringing the total of drugs seized from them to 65.95 kilogrammes.

Anti-Open Grazing Bill Passes First Reading in Enugu Gideon Arinze in Enugu A bill to ban open grazing in Enugu State has passed its first reading at the state House of Assembly. Presenting the bill yesterday, Leader of the Assembly, Ikechukwu Ezeugwu, said it is intended to help protect lives and property of citizens of the state. The lawmaker, while citing

relevant sections of the Assembly Order, gave the assurance that the bill would pass through all the procedures of lawmaking, including the public hearing stage. Ezeugwu, who represents Udenu state constituency, said the bill would regulate cattle ranching in the state. He warned members of the public against politicising the legislation, which was only

presented, and as such, has not been deliberated by the lawmakers. The lawmaker said politicising the bill would truncate the peace enjoyed by the residents of the state, which is not needed at this time. According to him, “During the public hearing, anybody who is interested in the bill should come and make his or her input to guide us in passing the bill. We need peace

in Enugu State and Nigeria.” In his reaction, the Speaker of the Assembly, Hon Edward Ubosi, urged the lawmakers to go through the bill in order to make contributions to the legislation “that will boost security in Enugu State.” He noted that there was no better time to address the issue than now when farmer-herder crisis has continued to claim several lives across the country.

Edo Commends Inner-City Innovation Hub on Devt Sunday Okobi Edo State Government has commended the Inner-City Innovative Hub for its innovative services, youth development, commitment to human capital and technological development in the state. This is even as it highlighted the objectives of its technology startup project while calling on

the youths of the state to take advantage of the opportunities being offered by the tech firm. This development was disclosed to journalists recently by the Focal Person, National Social Investment Programme (NSIP) to the Edo State Governor, Godwin Obaseki, Miss Osayuwamen Aladeselu, who is also the Senior Special Adviser, Edo State

Social Investment Programme to the governor, during a facility tour of Inner-City Innovative Hub, a technology firm based in Benin-city, the state capital. The tech firm, which was initiated by its founding Chairman, the United Kingdom-based Edo-born tech entrepreneur, Hilton Idahosa, enjoys the support and partnership of Edo Social

Investment Programme. It commenced its inaugural startup cohort in August, “with the aim of helping young entrepreneurs build and start their businesses as well as exposing them to investment possibilities through such avenue as mentorship, computer training boot camps in software development and multi-media skills.”

WEDNESDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

CRIME&PUNISHMENT

Nigeria's Internet Fraudsters Busted See what two Nigerian fraudsters, Tobilola Ibrahim Bakare and Alimi Seun Sikiru have lost to the Federal Government: N463.8m in Cash, Cars and Osapa London Duplexes

No 31, Alhaji Mudashiru Eletu Way, Osopa London, Eti-Osa, Lekki, Lagos

No. 13, AbdulRahman Oseni Street, Ocean Breeze Estate , Ologolo , Jakande, Lekki, Lagos

House 2B, Bamidele Majiyagbe Street, Southern View, Chevy View, Lekki, Lagos

Alimi Seun Sikiru their arrest, arraignment, and royal robes. conviction, the youngsters had Enthralled and emboldened by lived in palatial palaces like inordinate lust for money to "get pretentious princes in stolen rich or die trying," they carried out

a cyberheist of $1 million through a business email compromise. Their victims are not paupers; they are organisations that have in their employ hard-working young Nigerians. KLM, British Airways, and Turkish Airlines were their major victims. Like live mugshots, transfixed in the dock, Tobilola Bakare and Alimi Sikiru were brought back to life when the judge announced their conviction with a tone of finality. Justice O. A Taiwo of the Lagos State High Court was unmistaken in her judgment, and her gavel's dull but deepening thud sent cold shivers down the spines of Bakare and Sikiru. It was a grim reminder: crime does not pay. Six years behind bars await them. In the

Kingsley Nwezeh in Abuja

heir glitzy homes. Their vainglorious vehicles. Their ostentatious lifestyle. And their wayward, daring, and malicious endeavours. In the shadow of those adjectives, they betrayed enterprising spirit to unsuspecting neighbours and other youngsters. With over N200 million in their bank accounts and properties worth N260 million, it was seemingly unimaginable to see them go broke in few hours. But lie is a sprinter; truth a marathoner. With forlorn faces, the two youngsters knew their game

Tobilola Ibrahim Bakare was up. Caught in the labyrinth of their lawlessness, they stare listlessly into a void that leaves them helpless and hapless. Until

alternative, now broke, they will need benefactors to help them pay a fine of N4 million. They have been stripped of their ill-gotten wealth; all their illicit monies and properties forfeited to the federal government. It is also a fine testament to the EFCC's dogged investigation and prosecution in a crime-andpunishment episode that can leave many Nigerians to look before leaping into the murky waters of Internet fraud. With every crime committed, there should be a commensurable punishment. Bakare and Sikiru might have understood that too late. Yet, it remains to be preached for the myriads of other Nigerian youngsters: honesty remains the best policy.

WEDNESDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Hero’s Welcome for ‘King’ Messi in Paris PSG officially announce his signing, to address press today Lionel Messi displaying his PSG jersey number 30 at Parc des Princes...last night Femi Solaja with agency report AAfter savoring the joy of landing football’s most celebrated personality at the moment, Paris SaintGermain last night officially announced signing Argentine legend,Lionel Messi, in a deal to run till 2023. The French capital city club made the official announcement in a two-minute video which finally unveiled Messi at the end of the clip. Messi who will be officially unveiled to fans at Parc des Princes at midday today is to wear jersey number 30 instead of his traditional Number 10 that Brazilian Neymar has been wearing since crossing over from Barcelona to PSG in a record transfer. Messi left Barca – the only club he has played for – as they were unable to afford

a new deal under La Liga’s financial fair play rules. And speaking about his move to PSG, Messi said:”I am impatient to start a new chapter of my career in Paris. The club and its vision are in perfect harmony with my ambitions. “I know how talented the players and staff are here. I am determined to build, alongside them, something great for the club and for the fans. I can’t wait to set foot on the Parc des Princes pitch.” Messi becomes PSG’s fourth free-transfer signing this summer after the arrivals of Netherlands midfielder Georginio Wijnaldum, Spain defender Sergio Ramos and Italy goalkeeper Gianluigi Donnarumma. Highly rated Morocco right-back Achraf Hakimi also joined from Inter Milan. Messi will play in a front

three alongside the two most expensive players of all time – Neymar and Kylian Mbappe. He could make his PSG debut at home to Strasbourg on Saturday. The six-time Ballon d'Or winner received a hero's welcome after touching down in France yesterday to start a new life at PSG. The deal is believed to be around €35million (about $55.7 million) net per season, add-ons included. Wearing a T-shirt that read "This is Paris," Messi beamed and waved at scores of fans who had come to greet him at Le Bourget airport on the outskirts of the French capital after his flight from Barcelona. Chanting "Messi, Messi, Messi," the fans cheered and let off firecrackers. "It's going to be mad. After all, it's a legend who is arriving," said Florent

Chauveau, a PSG fan who has been back and forth to the airport every day since Sunday in the hope of seeing Messi arrive. Messi gave no details of the deal, which was reached days after Barcelona said it could not afford to keep the midfielder because of Spain's La Liga's fair play rules. But his father, speaking to reporters at Barcelona's airport, confirmed reports by French newspaper L'Equipe and Spanish newspaper Mundo Deportivo that Messi had reached an agreement with PSG, which is owned by Qatar Sports Investment. BBC Sport columnist Guillem Balague, confirmed yesterday that Messi has agreed a two-year deal to join Paris St-Germain following his shock exit from Barcelona. He added that the deal, has the option of a third year.

Tokyo Olympics: NFF Congratulates Dare, Sports Ministry The Nigeria Football Federation (NFF) has felicitated with the Federal Ministry of Youth and Sports Development and the Minister of Youth and Sports, Mr Sunday Dare on Nigeria’s outing at the 32nd Olympiad which ended in Tokyo, Japan on Sunday. Nigeria earned one silver and one bronze medals from the Games, with a slew of promising performances as a number of athletes reached the final of their events. For the first time since 1996, a Nigerian athlete was in the final of the glamour event of the Games – the men’s 100m sprint. Young hurdler Oluwatobiloba

Amusan narrowly missed netting a medal as she finished fourth in the women’s sprint hurdles final. “The Nigeria contingent may not have returned with the harvest of medals that many hoped for, but there are bright lights all around and some brilliant individual performances that give hope for the next Games in Paris. “At the end of the day, the silver and bronze medals earned in Tokyo make the just-ended Olympics Nigeria’s best outing in 13 years. That is commendable. “The Sports Minister, in his personal capacity, and the Ministry of Sports as a body

worked their socks off. The Honourable Minister was exemplary; he explained, encouraged and empathized with the athletes as necessary and led the cheer at most of the venues where Nigerian athletes competed. “He is such a wonderful breath of fresh air from the immediate Minister of Sports who rather constituted himself into a bulwalk and divisive force against Nigerian athletes at the last Olympics in Brazil. “We do not wish to recall his inglorious remarks against the football team when the team was camping in the USA. That

football team eventually ended up winning Team Nigeria’s only medal – a bronze – at the Games.” Pinnick was particularly delighted at the performance of multi-talented Ese Brume, who won the women’s long jump: “I am happy for Ese (Brume) because I played a role in her discovery and nurturing. I am fulfilled at her career progression and I believe she will be there in Paris in three years’ time to win the gold medal. “I also pledge that our football teams will return to the Games in three years’ time in Paris and compete favourably for the gold medals.”

Considered one of the greatest players of all time, Messi scored a record 672 goals in 778 games for Barca, the

club he joined as a 13-year-old. He won the Ballon d'Or a record six times and lifted 35 trophies with the Catalan club.

...His Posters Removed from Barcelona’s Nou Camp Few minutes after Lionel Messi flew into Paris to seal a twoyear PSG deal, the face of the Argentine was removed from outside Barcelona’s Camp Nou stadium on Tuesday. The 34-year-old’s shock departure from the Spanish side was announced last week and Messi waved goodbye to the club he spent his entire career at in an emotional press conference on Sunday. An emotional Messi broke down in tears at the farewell press conference and called for ‘humility and respect’ from the club after he left. UK’s Sportsmailrevealed yesterday that he is set to commit

to French side PSG on a two-year contract worth £1m a week and Barcelona have started their new era by removing pictures of their former captain from the club’s surroundings. Messi took centre stage in a large image of multiple Barcelona stars including goalkeeper MarcAndre Ter-Stegen, Gerard Pique and Antoine Griezmann, but construction workers took down the strips showing Messi’s face. The entire posters on the side of Barcelona’s 99,000-seater stadium have been removed following Messi’s departure, while club officials were also seen taking down smaller, street-side posters with the Argentina’s face on them.

Chukwueze Out as Villarreal, Chelsea Clash in Super Cup Nigerian international, Samuel Chukwueze, will not be in action today due to injury as Villarreal clash with Chelsea in UEFA Super Cup. Chukwueze is continuing rehabilitation following a muscular injury and is expected to miss the one-legged tie in Belfast, Northern Ireland. The Super Eagles winger picked up the injury in last season’s Europa League second-leg semi-final at Arsenal. He also missed the final against Manchester United which Villarreal won via penalty shootout. A second major trophy is on offer for Villarreal having broken their long wait for a first with their Europa League success last season. But Unai Emery‘s men have

not been helped with an injury crisis during pre-season which, at one point, saw them lose 12 players across positive coronavirus tests and injuries. And ahead of the final on Wednesday night, they remain without a host of players, setting them up for a huge task against Champions League holders Chelsea. Key midfielder Dani Parejo remains out with injury, as does another midfield option in Francis Coquelin. Though, there is some good news in midfield with the possible returns of Vicente Iborra and Etienne Capoue from respective injuries. Both players returned to training on Monday ahead of travelling to Belfast yesterday morning.

WEDNESDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

TRANSFER NEWS...TRANSFER NEWS...TRANSFER NEWS...

John Stones Extends Man City Contract Until 2026

Inter Free Nainggolan, Set to Join Cagliari

John Stones...extends Man City deal till 2026 John Stones has signed g a fiveyear contract extension that will y keep him tied to Manchester City till 2026, the Premier League champions announced yesterday. The new deal rewards Stones, who joined the club

from Everton in a £47.5million ($66 million) deal in 2016, for a past year in which he has rejuvenated his career for club and country. The 27-year-old formed a formidable partnership with Ruben Dias as Pep Guardiola's

HiFL2021:UAMTillersHoldAdvantage over ABU Nobles for Q’final UNN Lions, IAUE Minders battle for lone ticket at stake The battle for the final four quarter-final tickets in the second round of the 2021 Higher Institutions Football League (HiFL) is gathering momentum. UNN Lions are at home in Enugu to face IAUE Minders with a mind to snatch the ticket and head into the last eight. The Minders would mount pressure on the Lions who failed to capitalize on the advantage in the first leg. The first leg ended goalless with nothing to separate the teams, making this tie an all-important cracker for both teams. In the other match, 2018 champion UAM Tillers will hope to consolidate on their away win in Zaria to oust ABU Nobles in Makurdi. The first leg in Zaria ended 2-1 in favour of the visiting Tillers, who are in control of the tie with a leg in the last eight. Interestingly, the Nobles would try to create an upset to snatch the ticket from their hosts. These ties promise to live up to expectation as the competition is expected to have a new winner after the champions of the last edition, UNICAL Malabites were knocked out of this year’s competition by UNIBEN Royals despite winning

their home game at the Abraham Ordia Stadium at the University of Calabar. Speaking on the progress of the tournament, NUGA President, Stephen Hamafyelto said the competition has lived up to expectations and is grateful to the sponsors including StanbicIBTC, Nivea Men, Minimie and Bold, who have ensured that the competition continues to wax stronger. “We are glad of what our partners and sponsors on HiFL are doing as we anticipate interesting outcomes in the forthcoming matches. The level of competition and sportsmanship demonstrated so far by the athletes and their officials reflects the discipline and commitment to ensure that we run a league that is credible and would be a model in Nigeria. “We are optimistic that the league will continue to record more successes as our students experience the remarkable moments of the HiFL matches,” Hamafyelto said. HiFL organized by PACE Sports and Entertainment Marketing Limited commenced in 2018 in partnership with the Nigerian University Games Association (NUGA).

men cruised to a third league g title in four years y and reached the Champions League final last season and Stones also started all of England's matches at Euro 2020 as the Three Lions reached a major final for the first time in 55 years. "I couldn't be happier. I love being part of this squad. There are so many quality players here and I know we can continue winning trophies, which is my main focus," said Stones. "Working with the manager is a dream - he has taught me so much about the game and I feel like I learn something new every single day. "The success we've had in the last four years has been

incre incredible. To be a part of it has b been a dream come true and I just want to continue winning. "This is the best place for me to play my football and fulfil my ambitions." Stones fell down the pecking the order at the Etihad during the 2019-20 campaign and appeared to be facing an uncertain future last summer when City spent a then club record fee on Dias. However, he won a battle with Aymeric Laporte to partner the Portuguese at the heart of the City defence as 19 clean sheets in 27 games between November and February helped open up a commanding lead at the top of the table.

Radja Nainggolan has had his contract with Inter Milan terminated by mutual consent, the Serie A club announced on Tuesday, paving the way for the Belgian to join Cagliari. The 33-year-old spent the second half of last season on loan at Cagliari, after spending the previous season there on a temporary deal, and is now widely expected to join the Sardinian side on a free transfer. "FC Internazionale Milano can confirm that Radja Nainggolan’s contract with the club has been terminated by mutual consent," read a club statement. Italian media reports say that Nainggolan agreed to a severance payment worth around €1.5 million. Inter signed Nainggolan from AS Roma for an initial fee of €38 million in June 2018, but he played only one full season for the club before being sent

Radja Nainggolan...set for Cagliari switch out on loan following coach Antonio Conte’s arrival in 2019. The 30-cap Belgium international scored seven goals in 41 games for the Milanese club.

Arsenal Resume Talks with Odegaard on Permanent Deal Arsenal are continuing talks with Real Madrid over a permanent deal for attacking midfielder Martin Odegaard, having remained in sporadic contact over the summer. The Norwegian, who captains his country, spent the second half of the 2020/21 campaign on loan at the Emirates Stadium and was largely impressive, even though Arsenal struggled to find any kind of consistency in the Premier League. The Gunners have been hunting for a creative midfielder all summer and Odegaard has always been at the top of Mikel Arteta's wish list; one that has also included Emi Buendia, James Maddison and Philippe Coutinho at various points. Coutinho remains of significant interest to Arsenal, but 90min understands that dialogue has again opened with Real Madrid over Odegaard who Arteta is particularly keen to land. Initially tipped to stay in

Spain this season, it's unclear how prominently Odegaard will feature this season for Real Madrid under new boss Carlo Ancelotti, with sources close to the player doubting he'll be given much of an opportunity. That could open the door for Arsenal to swoop back in, and the club believe they can get a permanent deal done having looked again at the numbers - initially there was concern over the transfer fee for Odegaard and his sizeable wage demands. Arsenal gave the green light earlier this summer to spend up to £250m on new signings, and it's now likely they will have a further £25m added to the pot. Odegaard would prefer to join Arsenal again if he does leave Real, but it remains to be seen whether he'll push for another loan rather than a permanent switch. He's previously left Madrid on a temporary basis to play for Heerenveen, Vitesse Arnhem and Real Sociedad.

Martin Odegaard...Arsenal chasing permanent deal

Wednesday, August 11, 2021

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MISSILE

Middle Belt Youths to FG

“The recent revelations by the Emir of Muri have exposed the huge danger that has engulfed our people. That indeed, there are foreign Fulanis wielding sophisticated weapons brought by some powers to occupy Nigeria’s forests in the bid to take over the country” --- President of Benue Youth Forum,Terrence Kuanum, berating the federal government for its lethargic response to the barbaric activities of the foreign herders.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

For a Responsible State A s the United States healthcare system got overwhelmed by the ravages of the coronavirus pandemic last year, celebrated theorist of liberal democracy Francis Fukuyama made a strong case for the competent state. He posited that the state should be capable of giving “effective leadership” while winning the trust of the people. According to Fukuyuma, in periods of crisis the centrality of the role of the state becomes more conspicuous. Examples of such moments in history cited by the scholar included World War I, the Great Depression, World II and 2008 Financial Crisis. During crises, the people look up to the state for solution. According to the political theorist, America lacked such a solution under President Donald Trump. Countries that have managed the global public health crisis remarkably have “a competent state apparatus, a government that citizens trust and listen to, and effective leaders…” Those countries which have mismanaged the crisis are largely governed by states without those specified virtues. His argument was put forward in an essay published in the June 2020 edition of the American influential journal, Foreign Affairs. The piece is entitled “The Pandemic and Political Order: It Takes a State.” The context, of course, was the disillusionment of the pundits and the people alike with the Trump presidency. Similar views were expressed by the anti-poverty economist, Jeffery Sachs, in a recent statement at a development forum. Sachs also called for a government with capacity for any country confronting the crisis of underdevelopment. Again, the position of the scholar is that to confront the contemporary crises, the government of each country must give leadership in finding solution. The character of the state is coming to the fore in the various systems around the globe. This identifiable character will determine how the state tackles the crises confronting humanity such poverty, inequality, social injustice, climate change, pandemics, conflicts etc. It is important to draw attention to the above positions of liberal thinkers because they speak to the Nigerian situation in some respects. Those who have made a career of defending liberal democracy are now also making a case for strengthening the ability of government to deliver public goods. Amid the crises, a rethink of issues and options is taking place globally. However, here in Nigeria our neo-liberal ideologues are still fixated on their opposition to the strategic role of the state in the political economy. Instead of the recent views of Fukuyama and Sachs, our experts and technocrats would rather recall that former American President Ronald Reagan said 40 years ago that “government is not the solution to our problem; government is the problem.” Reagan, of course, made the statement in the ideological atmosphere of neo-liberal hubris of those days. Today, the organic link is often not obvious between the spread of such laissez - faire ideas and the decline of politics that is oriented towards public good in this country. Politics has been cynically reduced to a game played as a means to achieve private ends. It’s a virtual privatisation of politics, if you like. Hence, there is so much political controversies and little or no discussion of policies. That is why on the surface it would appear that politics is taken seriously in this land. The nation is perpetually in electoral mood. As soon as the

Buhari results of a presidential election are announced, the politics of the next presidential election begins in earnest even when the verdict is still being disputed at the electoral tribunal. At any moment, a distant observer could mistakenly assume that the presidential election would take place the following month in Nigeria. But the purpose of politics is hardly a matter of interest to the politicians as well as the people. Hence the big fight i Hence the big fight on the political landscape is more about who gets to power and less about what to do with the power so coveted to deliver public goods. n the political landscape is more about who gets to power and less about what to do with the power so coveted to deliver public goods. Here lies the contradiction to be resolved. After all, being involved in politics to gain power should be a means to an end: to advance the public good. If that had been the case, the nation could have made faster progress in the last 22 years of civil rule. In most cases, politicians have sought power to promote personal interests. For clarity, it is legitimate for politicians to have political ambitions. It is more important, however, that power should be used for people’s interest. Most participants in the political process are not motivated by this end of serving the public good. If the reverse had been the case in this civil dispensation, the condition of the poor people ought to have been better than it was 22 years ago. No, the condition is worse today. Come to think of it, stories of countries which have taken developmental leaps in a matter of decades are being told in the public sphere. The troubles bedevilling the main political parties are not based on differences in policies or perspectives to development. The basis of the quarrel is the control of the party structure as vehicle for those who would like to take a ride in it to power, to paraphrase Bishop Mathew Hassan Kukah. That’s why membership of a party for some politicians is a political ephemera. Neither the All Progressives Congress (APC) nor the People’s Democratic Party (PDP) has held a policy conference in recent times. Instead of preparing policy documents, candidates devote more time designing their legal strategies. They know that the ultimate voting takes place in

the court room in most cases. Someone calls it tribunalocrcay, that is the democracy determined by the electoral tribunals. Even the smaller party, the All Progressives Grand Alliance (APGA) is not spared of the political virus of elections without party programmes. The legal labyrinth created towards the Anambra state gubernatorial election coming up later in the year is not based on preferences for policies on education, health or industrialisation among the candidates of APGA, PDP or APC. Rather, what you have on display in the rancorous politics in Anambra is utter contempt for ideas and structures. The situation is the same nationally. Therefore, there should be a rethink of the role of the political parties in the process of putting governments in place at all levels. The operations of the parties in this dispensation have purged them of any democratic significance. The parties are indistinguishable in terms of programmes; politicians move freely across the parties since there are no ideological boundaries. To start with, party secretariats should do more than forwarding candidates forms to the Independent National Electoral Commission (INEC). The parties should be identified by their well- articulated programmes. That was the way it was in the Second Republic. Some specific policy choices were associated with each of the parties in existence during that period of the nation’s political history. For instance the National Party of Nigeria (NPN) articulated a programme of green revolution and mass housing while the Unity Party of Nigeria (UPN) focussed on free education, health service and rural development while the People’s Redemption Party (PRP) implemented a widely acclaimed programme of mass literacy and other anti-poverty policies. In terms of policies sold to the electorate during elections similar things could be said of the Nigerian Peoples Party (NPP), the Great Nigerian Peoples Party (GNPP), and the National Advance Party (NAP). The president and governors elected on the platforms of those parties were expected to implement the party programmes. The supremacy of the party was not only invoked in nominating candidates, but also in matters of policies and programmes. In contrast to the policy distinctions of the Second Republic, virtually all the presidents of this Fourth Republic only remembered to draw up their economic programmes and strategies after months of their elections. In other climes of liberal democracy, not only must the parties and their candidates articulate the programmes in every sector of economic management before elections, they are also expected to come up with how to finance the programmes. It is not enough to make declarations about revamping infrastructure

“The big ﬁght in the political landscape is more about who gets to power and less about what to do with the power so coveted to deliver public goods”

or improving education; the electorate in those climes expect to be told how the governor or president would fiancé the projects. In Nigeria, soon after a governor is elected he begins to lament that the monthly allocation from the Federation Account is drying up. The job of a governor should be more than sending his commissioner of finance to Abuja monthly for allocation of funds. The strategy of economic management should include revenue generation in the most imaginative manner. It is certainly not a story of progress that in retrospect the politics of the much-criticised Second Republic is now remembered to be more qualitative than the present one. A politician is made president or governor first before he thinks of governance strategy. In whichever way the map of a restructured Nigeria is drawn, progress would still be hindered unless the governance issues are tackled. So it is good to search for who will do the job of the president; it is even more important to define what’s to be done on which ideological platform. In other words, it is also important to define the presidential hopefuls by their ideas and not just their ethnicities, regional origins faiths and professions. Questions should also be asked about their passion for development as a way of enriching the political process with ideas. For instance, an aspirant should be known by what he or she would do differently in the education sector. The crisis in the sector is not one that could be solved by the prescriptions of free-market fundamentalists. The problem of millions of children out school is beyond freemarket solutions as the experience of the last few decades have shown. Similarly, the problem of millions of poor people without access to quality healthcare cannot be solved without universal health coverage being a cardinal policy of government. Yet some policy wonks are still calling for more privatisation and deregulation in areas which strictly meant for delivery of public goods. It would be less than responsible for a state to toe that policy path amid acute crises of poverty and underdevelopment. It requires deep thinking to come with policy options. The American state under the watch of President Joe Biden is intervening in the political economy with trillions of dollars as stimulus packages. It takes a state to do that in any economy- capitalist or socialist. A responsible state cannot emerge from a political process that is not based on clear strategies and policies of development. All told, the crises manifesting as insecurity, poverty and threats to national unity can only be tackled by a responsible and responsive state. As indicated in the introduction to this reflection, to play its role responsibly and responsively, a state should muster enough competence and strong leadership while securing the social trust. In addition, the institutions in the public sector including the bureaucracy should be well- equipped and developed to enforce regulations. This is the “irreducible minimum” as Comrade Edwin Madunagu would put the ideological question in this proposition mathematically. To be sure, this not a revolutionary position. It is only an amplification of an enlightened liberal suggestion. However, in the light of the multi-dimensional nature of the crisis and in the absence of a revolution, this minimum condition of responsibility should be met by the Nigerian state to prevent anarchy.

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