Kingsley Nwezeh, Adedayo Akinwale, Sunday Aborisade in Abuja, John Shiklam in Kaduna and Hammed Shittu in Ilorin Inspector-General of Police (IGP), Usman Baba, at the weekend, ordered the deployment of watertight security arrangements to cover all schools, hospitals, health workers, and critical national infrastructure across the country.
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Irreducible Condition for Peace
L-R: Executive Director Pipeline Infrastructure Nigerian Limited, Mr. Osahon Okunbo; Chairman of the occasion and former President of Nigeria Goodluck Jonathan; his wife, Mrs. Patience Jonathan, and Former Governor of Edo State, Mr. Adams Oshiomhole, during the one-year memorial lecture in honour of late Captain Hosa Okunbo in Abuja...weekend KINGSLEY ADEBOYE
This was contained in a statement signed by Force Public Relations Officer, Chief Superintendent of Police (CSP) Olumuyiwa Adejobi.
Orders tight security around schools, hospitals, public infrastructure NAF fighter jets hit terrorists enclave in Niger criminality in the country. The IGP directed Assistant Wike’s Camp Insists Ayu’s Ouster
It was still unclear whether the president, governors and local government heads, who jointly own the federation account would agree to wipe off the debts since the national oil firm has now been commercialised. Continued on page 6 The NNPCL had blamed the current subsidy regime which was expected to gulp N4 trillion this year and its inability to produce its Organisation of Petroleum First Year of Nigeria’s Next President May Be about Blood, Sweat, Tears...Page 50 $400m Required to Complete Abandoned Millennium 9988. Price: N250
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NNPCL’s Debts to FG, States Hit N1.055trn in Six Months Peterside:
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Baba also ordered regular patrols, stop-and-search, raids, and show of force by tactical commanders to clamp down on crime and Police Launch Grand Offensive against Criminals Nationwide
Pipeline security, maintenance gulp N8.35bn in one month Saudi Aramco’s revenues surge 90%, climb to $48.4bn in Q2
Emmanuel Addeh in Abuja
FG:
Tower...Page 10 Monday 15 August, 2022 Vol 27. No
The total debts owed by the Nigerian National Petroleum Company Limited (NNPCL) to the federal and state governments have hit N1.055 trillion in the first six months of 2022, new data from the national oil company hasInformationindicated. obtained by THISDAY on the last presentation to the Federation Account Allocation Committee (FAAC), indicated that the company’s inability to pay any money this year increased the debts to over N1Askedtrillion.about what would happen to the backlog of debts owed the federation on the day the NNPC officially unveiled its new logo and turned commercial in July, NNPCL Group Chief Executive Officer (GCEO), Mr. Mele Kyari had stated that the old NNPC owed the debts and not the new company.
TRUTH & REASON
Demands to pick choice of successor Urges Mark to speak up since he’s with chairman's resignation letter Atiku paints gloomy picture of Nigeria, describes current statistics as grim, disappointing PDP group dismisses Tinubu's presidency as Buhari's third term Senate Probes NSITF over N17.128bn Unexplained Spending...Page
Chuks Okocha in Abuja Supporters of the Rivers State governor, Mr. Nyesom Wike, in the Peoples Democratic Party (PDP) have given an “irreducible minimum condition” for reconciliation in the faceoff between them and the leadership of the main opposition party. The pro-Wike camp said the PDP national chairman, Dr. Iyorchia Ayu, must go, insisting also that they should be allowed to choose hisThesuccessor.supporters of the Rivers State governor urged former Senate President David Mark to speak up on the post-presidential primary election crisis. They alleged that Mark was with Ayu’s letter of resignation.Thosedemands came ahead on page 6
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was grim and disappointing. He, however, said he was optimistic that under a PDP administration, there would be turnaround for good, as his policy team was working round the clock to move the country forward. Atiku, in a statement he personally signed, said after spending time with his policy think tank, the mandate of the team was to come up with a policy framework that would guide the country to a promising future. He lamented that the future was very grim, explaining that the modality for confirming this is to evaluate the country’s current performance in the areas of economy, security, education, and youth and women development.
Atiku Paints Gloomy Picture of Nigeria In a related development, PDP presidential candidate, Atiku Abubakar, yesterday, painted a gloomy picture of the country. Atiku stated that the statistics on where Nigeria was at the moment in 2014/15 against (Goodluck) Jonathan, it is not true. 2014/2015, Jonathan and the Peoples Democratic Party (PDP) were completely in denial about those security challenges."Ifyou remember when the Chibok thing happened, there was a delegation from Borno, led by the governor himself, Kashim Shettima, then he was a sitting governor. What was the response of Patient Jonathan? Kashim had to shed tears publicly. "Nobody is saying, for instance, what happened to the railway between Kaduna and Abuja didn't happen, nobody's saying that attack on Kuje prison didn't happen. “If anything, we are as aggrieved as any other Nigerians. I come from Kaduna, I hardly spend two weeks without going to Kaduna, I could have been on that train. It doesn't matter whether I'm in APC or PDP. I mean, it is the same security challenge we all face. "I want this government to address the security challenge immediately because I don't know whether it will consume me. This is the reason why we don't need to politicise it. So as far as I'm concerned, we must prepare the campaign in such a way that there are answers to these challenges, which Nigerians can see and can commit themselves to." Lukman pointed out that there was need for the federal government to invest in education, adding that investment in public education is a necessity that should be taken for granted.
Group Tinubu'sDismissesPresidency as Buhari's Third Term Meanwhile, a group in PDP, the PDP ACTION 2023, claimed a Bola Tinubu presidency would amount to an extension of the current Buhari administration. It said the APC presidential ticket was an attempt to give Buhari a third term in office. In a statement by its chairman, Hon. Rufus Omeire, the group declared that APC represented an existential threat to Nigeria in all critical areas of nationhood. The PDP Action 2023 expressed surprise at the recent effort by a former APC national chairman and ex-Edo State Governor, Comrade Adams Oshiomhole, to distance the APC presidential candidate from the incumbent government, saying, "This is most disingenuous for many reasons." According to the group, "The APC presidential ticket for 2023 general elections is an attempt to give President Muhammadu Buhari a third term in office. "Recently, a former APC chairman and ex-Edo State Governor, Comrade Adams Oshiomhole, sought to distance Asiwaju Ahmed Tinubu, the APC presidential candidate, from the disastrous government of the incumbent president, General Muhammadu Buhari. This is most disingenuous for many reasons."Inthe first place, by the provisions of the constitution of Nigeria, it is a political party that sponsors a candidate for presidential election. In this case, the ruling APC is sponsoring Tinubu."Secondly, for practical reasons, it is the name of the political party that will be on the Independent National Electoral Commission (INEC) ballot paper during elections and so, APC will be on the ballot, not even Tinubu. "Thirdly, Tinubu is the acknowledged and recognised National Leader of the APC, a position he shares with President Buhari. Indeed, by Tinubu's own admission, he was largely instrumental in foisting President Buhari on Nigeria. "He has given crucial support to the APC government of President Buhari and repeatedly publicly praised the policies and direction of the APC government. He is the philosopher king of APC's misrule in Nigeria.
NNPCL’S DEBTS TO FG, STATES HIT N1.055TRN IN SIX MONTHS CAMP INSISTS AYU’S OUSTER IRREDUCIBLE CONDITION FOR PEACE
Inspectors-General of Police and the 36 police commissioners in the federation and the Federal Capital Territory (FCT) to prioritise the use of intelligence gathering networks, particularly traditional/ local intelligence, to locate criminal hideouts and flush them out before they could Relatedly,strike.Nigerian Air Force (NAF) fighter jets on internal security operations hit another terrorist enclave at Kurebe in Shiroro Local Government Area of Niger State, neutralising many of the Thatcriminals.wasas National Vice Chairman of All Progressives Congress (APC), Dr. Salihu Lukman, said members of the ruling party were as aggrieved as other Nigerians over the alarming rate of insecurity in the country. At the same time, the Arewa Youth Assembly (AYA), concluded plans to embark on a peaceful protest on Wednesday in Abuja, to demand the resignation of the National Security Adviser (NSA), Babagana Mungono, over the spate of Ainsecurity.statement by Force Headquarters said the IGP gave the directive while reviewing the general security situation in Nigeria following reports from commands and formations across the country. The statement said, "He has equally charged all officers and men to be on the offensive, and take the fight against crime to the doorposts of suspected criminal elements, including bushes and uncompleted buildings, profile them, and charge those found wanting to court "Againstaccordingly.thebackdrop of this development, Nigerians are hereby urged to cooperate with the police, as many police operatives will be seen at strategic areas, routes and communities, in order to suppress the antics and criminal activities of men of the underworld." The IGP also warned officers and men of the Nigeria Police to be civil, professional and humane in the course of their duties. It said, "The Inspector-General of Police, therefore, reiterated his commitment to the protection of lives and property of well-meaning members of the public by decimating the activities of rogue criminal elements, particularly, those who target schools, hospitals, and other critical national infrastructure, in a bid to strike fear into the hearts of good citizens in the country. “He has similarly charged police officers to protect with courage and serve with compassion in line with his administration’s policing theme."
Northern Group Plans Mass Protest against NSA Wednesday Arewa Youth Assembly (AYA) planned to embark on a peaceful protest on Wednesday in Abuja to demand the resignation of the National Security Adviser (NSA), Babagana Mungono, over the growing insecurity in the country. In a statement on Sunday in Kaduna, the group maintained that for the past seven years since Mungono was appointed to the sensitive position of NSA, the security situation in the country had continued to deteriorate, as terrorists and other criminal elements unleashed mayhem on Nigerians. The statement signed by AYA’s spokesman, Ali Mohammed, said there were enough reasons for Mungono to have resigned his appointment, “But he has refused to step down despite the mass killings across the country.”
The group lamented that Nigerians were no longer safe anywhere on the roads, farms, work places, markets and even their homes, as terrorists moved about freely kidnapping, killing and collecting millions of naira as "Asransom.Nigerians are being killed mercilessly on daily basis, the NSA is comfortably occupying his office, enjoying uncompromised security, knowing these criminals cannot get to him," the statement said. According to the group, the Nigerians being killed by the terrorists are the people, who supported President Muhammadu Buhari, to ensure his election and re-election, in the hope that security will be improved and life will be better.The group recalled that Buhari's promise to address security challenges and tackle corruption were among the reasons Nigerians voted for him.
NAF Fighter Jets Hit Terrorist Enclave in Niger Nigerian Air Force (NAF) fighter jets recently hit another terrorist enclave at Kurebe, in Shiroro Local Government Area of Niger State, and neutralised many criminals at the location. NAF Director, Public Relations and Information, Air Commodore Edward Gabkwet, who disclosed this, in a statement on Sunday, said the terrorists had assembled at Kurebe for a meeting hosted by Aminu Duniya, a Boko Haram terrorist commander. Gabkwet said the strike at Kurebe came barely hours after a coordinated joint air and ground operations neutralised several terrorists operating around Damba-Galbi axis in Chikun Local Government Area of Kaduna State. The NAF spokesman stated, "Over the weekend, NAF aircraft struck a terrorists’ gathering at Kurebe in Shiroro Local Government Area of Niger State after intelligence revealed that the terrorists had assembled for an important meeting hosted by Aminu Duniya, a Boko Haram terrorist"Aminucommander.Duniyawas said to have invited the terrorists to his enclave at Kurebe to the meeting, which obviously attracted numerous terrorists, who came in large numbers on their motorbikes. Sources revealed that the air strike was successful and resulted in the death of many terrorists, though it remains unclear if Aminu Duniya was also neutralised in the strike. “It should be noted that Kurebe is a known terrorist haven, as the local inhabitants of Kurebe have since vacated the villages in and around the area after the terrorists drove them away in 2021. "The strike at Kurebe came barely hours after a coordinated joint air and ground operations neutralised several terrorists operating around Damba - Galbi axis in Chikun Local Government Area of Kaduna State. The activities of the terrorists continued to make life unbearable to locals in the area. "So, when intelligence revealed that the terrorists had planned to overrun a nearby village within the vicinity, the military saw that as an opportunity to surprise them. While NA troops laid siege around the location, NAF aircraft were directed to the suspected location of the terrorists, which was then attacked. Several terrorists were confirmed killed after the strike."
Exporting Countries (OPEC) quota, which fell to 1.083 million barrels per day in July, for the company’s inability to meet its obligation. Nigeria’s allocation for the month was 1.8 million bpd. Also, while the total sum owed the federation should be N736.602 billion from January to June, according to a THISDAY analysis of the data, given a monthly budgeted remittance of N122.767, there was no explanatory notes as to how the deficit jumped to the N1.055 trillion figure in June. For the entire year, the company was supposed to pay N1.473.20 trillion to the federation account. However, it’s unlikely that a kobo would be paid, given the default in payment trend which began lastSomeyear.Nigerian states with low Internally Generated Revenue (IGR), which are mostly badly hit when the FAAC remittances decline, now owe their workforce several months, according to reports from the states. However, with a major chunk of NNPCL's monthly revenue now being channeled to the payment of fuel subsidy. A THISDAY report last month had shown that FAAC has been relying heavily on the revenue from the Federal Inland Revenue Service (FIRS) for its monthly sharing to the three tiers of government. From 2021, when the national oil firm's revenues declined massively, the financial records of the FIRS’ contributions to FAAC showed that it contributed a total of 59.45 per cent to the federation. This meant that out of the total of N8.912 trillion to the three tiers of government last year, N5.298 trillion was contributed by the federal revenue collecting agency. The trend continued in the first five months of 2022 as the NNPC’s contribution was still weighed down by the fuel subsidy burden and inadequate oil production. But a further review of the NNPCL’s latest data further indicated that the company spent N8.352 billion during the month under review on pipelines security andThemaintenance.amountthat the NNPCL spent in a month was almost the entire budgeted sum for the year for the purpose, which should be N8.792 billion for the 12 months of However,2022. the massive jump in security and maintenance costs may not be unconnected with the renewed moves by the authorities to rein in record oil theft in the Niger Delta. The government recently deployed more troops to the region to curb the menace. Last Saturday, Kyari had announced cash rewards for anyone who blows the whistle on oil thieves and vandals, disclosing that he was personally spearheading the move to ensure that the identity of the whistle-blowers is kept under wraps.Hehad also announced that the NNPCL had deployed cameras to monitor its assets real time as well as the disclosure of the launch of an application to ensure the menace is brought to the barest minimum. But while the challenge in the oil and gas industry continue to swell, constraining Nigeria’s ability to fully enjoy rising prices, Saudi Aramco announced yesterday its financial results for the second quarter of 2022, with revenues rising by 90 per cent year-on-year (YoY). It also declared a dividend of $18.8 billion to be paid in the third quarter. The results set a new quarterly earnings record for the company since its Initial Public Offering (IPO) in 2019, and were primarily driven by higher crude oil prices and volumes sold as well as higher refiningAramcomargins.achieved a record quarterly and half-year net income of $48.4 billion in the second quarter and $87.9 billion in the first half of 2022, compared to $25.5 billion and $47.2 billion, respectively, for the same periods in 2021. Free cash flow increased by 53 per cent to $34.6 billion in the second quarter and was $65.2 billion during the first half of 2022, compared to $22.6 billion and $40.9 billion, respectively, for the same periods in 2021, according to a statement from the national oil firm. Also, its capital expenditure increased by 25 per cent to $9.4 billion in the second quarter and by 8 per cent to $16.9 billion for the first half of 2022, compared to the same periods in 2021. “Our record second-quarter results reflect increasing demand for our products — particularly as a low-cost producer with one of the lowest upstream carbon intensities in the industry. “While global market volatility and economic uncertainty remain, events during the first half of this year support our view that ongoing investment in our industry is essential — both to help ensure markets remain well supplied and to facilitate an orderly energy transition,” Aramco's President and CEO, Amin Nasser, said. He noted that he expected oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts.
Lukman: We’re as Aggrieved as Other Nigerians National Vice Chairman of the APC, Dr. Salihu Lukman, said members of the ruling party were as hurt as other Nigerians over the frightening spate of insecurity in theLukmancountry.said until the federal government introduced a no-work, no-pay policy, members of the Academic Staff Union of Universities (ASUU) would continue to hold the country to ransom with incessant strikes.Lukman spoke on Sunday in Abuja during a media interaction with some journalists. He stressed that as a party aspiring to continue to govern Nigeria, APC needed to address the challenges plaguing the Muhammadu Buhari administration. The party chieftain, however, cautioned against politicising the security challenges facing the country, saying it is untrue that APC politicised the issue of security to get into power prior to the 2015 elections.Lukman stated, "People wrongly said we used the same approach of today’s meeting of a sixman committee comprising representatives from the camps of the PDP presidential candidate, Atiku Abubakar, and Wike, for reconciliation talks. But Atiku, in a statement yesterday, painted a gloomy picture of the country, stating that the statistics on Nigeria’s current position is grim and disappointing. Nonetheless, a group within the opposition party, ACTION 2023, declared that a federal administration headed by the presidential candidate of the ruling All Progressives Congress (APC), Bola Tinubu, would simply amount to another term for President Muhammadu Buhari, a situation unacceptable to the Nigerian constitution. A source, who was a member of the previous National Working Committee (NWC) of PDP during the Uche Secondus tenure, said, "By ensuring the removal of Ayu, Atiku can be said to have shown that he has the capacity to keep to the agreement of inclusiveness, trust and avoid any victimisation of the supporters of the Rivers StateSpeakinggovernor.”exclusively with THISDAY, the source, who pleaded anonymity, said, "Dr. Iyorchia Ayu has betrayed the confidence of the Rivers State governor, Wike. Nigerians know that Wike would have won the ticket, but for treachery. He lost the presidential ticket and the chances of becoming the running mate to the presidential candidate due to treachery."According to the source, "Wike has lost twice. He wants to be a stakeholder in the presidential campaign. So, we want the office of the national chairman, because of what we will be bringing on board. Wike has a lot to bring on board. He has capacity.” The source also alleged the PDP national chairman had already signed a resignation letter. It said, "What is Ayu bringing to help Atiku? He should resign if he has honour. After all, he signed the resignation letter that he will resign if the presidential candidate comes from the north. The letter is with David Mark. David Mark should speak out." The source explained that the purpose Wike was inviting APC chieftains to inaugurate some of the projects he executed was to show the world that he had capacity and had a lot to contribute to theItparty.”added, "Defecting to another political party is not on board." The source, who played an important role in the sack of Secondus, added, "Wike lost the presidential ticket and the running mate position. He is asking for the office of national chairman. If Atiku is sincere, he should allow Ayu to go. He can appoint him as his chief of staff, if he wants to earn the trust of Wike and his supporters. We have a lot to contribute.”
The statement said, "But there is good news. Nigeria shall rise again! The plan to get Nigeria back to the pathway of greatness is doable. Let me share a part of the plan with you, dear friend. “Whereas the ruling party will blame our adversity on some isolated global events, what they won’t tell you is that their lack of direction and political will turned our economy into its current tinderbox situation. "So, under my plan, we are going to be more proactive in the design of social and economic policies to forestall any challenges that may arise from domestic and global crises. We will also resume the monthly sectoral dialogue in order to enhance our joint understanding of the economy. "This is an initiative that I conceived, when I was the Head of National Economic Council as Vice President in the Obasanjo administration. The direction and leadership that we provided is the reason why the economy recorded an annual average growth of 7.7 per cent in the six years preceding the APC-led administration. “We also recorded a yet-to-be surpassed growth of 15.3% in 2002. The average growth of 1.1 per cent of this administration contrasts sharply with the aforementioned performance of our administration. We also did much better than this administration in growing the economy, taming inflation, building foreign reserves and in debt accumulation and management."Atikusaidthe options before Nigeria in the upcoming election was a choice between the abyss where the APC had taken Nigerians and a tested capacity of the greatness that the PDP can lead Nigerians into. He said it was a choice between failure to deliver on the promises made by the APC and the tested capacity that the PDP can lead NigeriansAccordinginto.to the former vice president, "I believe that as one, we can get it done."
WIKE’S
POLICE LAUNCH GRAND OFFENSIVE AGAINST CRIMINALS NATIONWIDE
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The Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Services Employees (AUPCTRE) has called on President Muhammadu Buhari to inaugurate the board of Niger Delta Development Commission (NDDC).ItsGeneral Secretary, Sikiru Wahid, made the call in a statement issued yesterday, where he also appealed the National Assembly, the Minister of Niger Delta Affairs, Umana Umana, to take urgent steps to ensure NDDC delivered on its mandate. It resolved: ''That we as staff of the NDDC collectively, under the umbrella of AUPCTRE, cannot fold our hands while different political actors from the region through their actions or inactions undermine the enabling Act of the NDDC, and so threaten the corporate existence of the commission.''Thatasaunion, we say to all political heavy weights from the Niger Delta Region, that enough of putting personal interest over and above the development of the region for which the vehicle of the Niger Delta Development Commission was set up."
To Meet 2025 Flare Gas Commercialisation
The memo also cautioned on the increasing cases of COVID-19 infections and advised the workers against letting down theTheguards.Nigeria Centre for Disease Control (NCDC) had last month declared a disease epidemic emergency in the country following the outbreak of Marburg virus disease (MVD) and it's detection in one of the West African country, Ghana. Due to the development, the centre said it has heightened surveillance at the border and all other entries points to the country. However, the NCDC said both importation of the disease and its potential impact on the Nigerian population was moderate.
The union noted that when the NDDC's Managing Director/CEO Nsima Ekere and its Chairman, Senator Victor Ndoma Egba, resigned their appointments in January 2019, to contest elections in their respective states, their positions should have been filled in accordance with Section 5, Paragraph 3, of the Act establishing the commission. It said the paragraph which states inter alia that: ''Where a vacancy occurs in the membership of the board, it shall be filled by the appointment of a successor to hold office for the remainder of the term of his predecessor. ''So, however, that the successor shall represent the same interest and shall be appointed by the President, Commander –in – Chief of the Armed Forces, subject to the confirmation of the Senate, in consultation with the House of TheRepresentatives."unionlamented that political gladiators from the region for whatever reasons, ill advised Buhari to dissolve the board of the commission, and in its place, appointed an Interim Management Committee. The union said the committee did not fully represent all NDDC states, a situation that had culminated into anger and lack of support by the aggrieved persons towards successive interim management committees. It added: ''Thus, instead of focusing efforts on driving development of the commission, these committees either fight back or focus on pacifying the aggrieved stakeholders. ''And since January 2019 therefore, it has been one interim administration or the other. We as members of staff, as a union, are saying enough of all these. Let the right thing be done." The union also kicked against what it described as unending audits of NDDC, saying it was clearly hampering the development of the region
Target, NUPRC Sets Up 12-man Team
Abuja Teaching Hospital Explains Why It Issued Marburg Disease Alert
L-R: Nigeria's First Lady, Aisha Buhari; Chief of Staff to the President, Prof. Ibrahim Gambari; former President Olusegun Obasanjo and Gombe State Governor, Muhammadu Inuwa Yahaya, during a special convocation ceremony for the conferment of honorary doctorate degree on Alhaji Muhammadu Indimi by the University of Maiduguri... recently through the Furthermore,NDDC.theunion stated that it was not against a personnel audit of the commission or against the forensic audit, but noted that what it was against was putting the cart before the horse.Itnoted: ''Enough of these unending audits which fritter away the funds of the commission. A forensic audit, meant to take between three to six months to complete, but eventually took almost two years to complete, has been undertaken."
INDIMI GETS HONORARY DOCTORATE DEGREE...
8 THISDAY • MONDAY, AUGUST 15, 2022 NEWS Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580
The authorities of the University of Abuja Teaching Hospital, Gwagwalada has said that it's memo on Marbug disease and COVID-19 were a normal health advisory meant to ensure that its staff maintain required surveillance and hygiene by observing all protocols of prevention.Againstthe backdrop of the apprehension caused by a memo issued by the Deputy Director in charge of the hospital’s information unit, Sani Suleiman, last Friday, the management said there was no cause for alarm as no outbreak of the disease had been reported in Nigeria or in the Federal Capital Territory (FCT) While responding to enquiries from journalists, Suleiman said the internal memo was merely a health advisory intended for the staff of the hospital. "This supposed to be an internal memo meant only for the management and staff but released to the public. It was simply meant to caution the workers against abandoning the“Iprotocols.wrotethat memo to sensitise the people in the hospital but I think by Monday, we will probably take measures to explain further for people to understand. So it is not like there is an outbreak in Nigeria or in the FCT,” he added.
Recommences process of issuing flare sites Onyebuchi Ezigbo in Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) at the weekend inaugurated a 12-member flare gas commercialisation programme team.Astatement signed by the NUPRC’s Chief Executive, Mr. Gbenga Komolafe, noted that the responsibility of the team would be to drive the process and coordinate the scheme towards the federal government's initiative to end gas flaring by 2025. “Gas flaring in the oil and gas industry has continued to be a menace which needs to be eradicated because of its adverse effect on the environment and the people.“The wasteful disposal of natural gas is not only fraught with serious resourceconsequenceshealth/environmentalbutisalsoamajorwasteandvalueerosion to the country,” Komolafe noted. Against this backdrop, he said that the federal government declared the period 2021 to 2030 as the, “Decade of Gas”, a period within which the nation must shift focus from oil-centred exploitation to gas driven industrial development.Accordingto Komolafe, even though the World Bank had set 2030 as the target year to end gas flaring, Nigeria has not only set a country deadline for 2025, but President Muhammadu Buhari has made a commitment towards the Paris Agreement during the COP26 leaders' summit to achieve net zero carbon emissions by 2060. In 2016, the federal government initiated the scheme to end flaring of natural gas by oil companies operating in the country. Although the initiative was well-received by stakeholders and industry watchers, unforeseen constraints, the NUPRC said, truncated its execution.Atthe inauguration of the team in Abuja, NUPRC's Chief Executive, Komolafe, stated that monetising gas resources remains a positive step towards guaranteeing energy security, especially in the global energy transition period. He said as a nation, Nigeria must ensure that it harnesses all available gas resources for value creation.Thechief executive announced that NUPRC was recommencing the process of issuing flare sites to technically competent companies, following a competitive bid process.Thisprocess, he pointed out, became crucial in view of the policy direction of the federal government to ensure all gas resources are developed for national development. “The commission is currently carrying out a study in conjunction with external technical resources to identify suitable flare sites for the auction process. It was for the purpose that the committee of staff of the commission was inaugurated to drive the process and coordinate implementation of the programme,” he added. Komolafe listed the steering committee members as: K.O. Ofoegbu, O.I. Anyanechi, A.T. Adeyiga, J.O. Ogunsola, J.C. Anyanwu and A.O. Okwah. Other members of the team included: O.E. Oje, N.E. Odega, K. R. Abisoye, J. C. Echendu, C. I. Chukwukaelo and G. L. Umoru. The committee, the chief executive said, was expected to carry out its mandate bearing in mind the over-arching significance of the programme to the socioeconomic well-being of the nation. He appreciated the support from the United States Trade and Development Agency (USTDA), the United States Agency for International Development (USAID) and other stakeholders. Komolafe also reiterated the commission’s commitment towards ensuring that the programme was expeditiously executed. The inauguration was witnessed by a delegation from USAID comprising Mr Oladiran Adesua, Jennifer Okoro and Andrew Smith.
AUPCTRE Urges Buhari to Inaugurate NDDC Board
The memo, which was titled; “Outbreak of Marburg Disease and COVID-19 Infections,” had urged the staff to ensure adequate surveillance and hygiene against the disease by observing all protocols. It read: “The management of University of Abuja Teaching Hospital wishes to notify the entire hospital community of an outbreak of Marbug (sic) disease and upsurge in COVID-19 infection.“Consequently, the attention of all Head of Departments and members of staff is hereby drawn to ensure adequate surveillance and hygiene by observing all protocols of prevention.”
Adedayo Akinwale in Abuja
Emmanuel Addeh in Abuja
MONDAY AUGUST 15, 2022 • THISDAY 9
2023: Yewa Monarchs, APC Professional Women Back Abiodun's Second Term Bid
The federal government has disclosed that $400 million would be needed to complete the Millennium Tower which construction began in 2005. The Minister of Information and Culture, Alhaji Lai Mohammed revealed this when him and the FCT Minister, Malam Mohammed Musa Bello inspected the facility for the purpose of seeking other sources of funding for it. He solicited for private-sector collaboration to enable the execution of the monument, noting that whoever partners with the federal government
Olawale Ajimotokan in Abuja
Olawale Ajimotokan in Abuja
10 THISDAY • MONDAY, AUGUST 15, 2022
L-R: Managing Director, Nigerian Ports Authority, Alhaji Mohammed Bello-Koko; Managing Director/Chief Executive Officer, Lekki Port, Mr. Du Ruogang; Minister of Transportation, Mallam Muazu Sambo, and Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani, during the first official visit of the Minister to Lekki Deep Sea Port in Ibeju-Lekki, Lagos...Yesterday
NEWS
MINISTER'S VISIT TO LEKKI DEEP SEA PORT IN IBEJU-LEKKI…
FG: $400m Required to Complete Abandoned Millennium Tower
Earlier in his remarks, Abiodun described the celebrant as an embodiment of humility who he said is very focused, calm and never stops to help those in Abiodun,need.while appreciating the celebrant for his support towards the emergence of his administration in 2019, noted that that the celebrant was still solidly behind his administration.Meanwhile,the Ogun State Chapter of the All Progressive Congress’ Professional Women Council has called on the electorates in the state to cast their votes for Prince Dapo Abiodun in his re-election bid, so as to continue to enjoy the dividends of democracy. Speaking in Abeokuta during the meeting with the women professionals in politics, yesterday, the National Coordinator of the Council, Mrs. Ronke Soyombo highlighted some of the achievements of the Abiodunled administration to include empowerment programme for youths in agriculture, under Anchor Borrowers Scheme and recruitment of 5,000 teachers through Ogunteach scheme. Soyombo said the construction and rehabilitation of roads in major towns and cities in the state, the rehabilitation of health care centres to cater for the health needs of the people, quick response to Covid-19 outbreak and rehabilitation of about 956 classrooms across all the local government areas of the state, were notable achievements of the present administration in the State.
FCTA to Prosecute 413 Property Owners over N29bn Ground Rent Debts
on the project stands to make a lot of revenue. The 170 metres high tower that literally grows from the ground, like a flower surrounded by transparent wings upon which is fastened a luminous Coat of Arms that glows white and green rays visible at all times is made up of three giant cylindrical concrete pillars of different heights around which are wrapped transparent stainless steel wings that gradually unfurl outwards and upward like a funnel. The project which dominates the National Square has space for 1100 cars and houses the National Museum at various levels, the National Theatre as well as five-star model hotel. Sadly, according to the FCT Minister, the Millennium Tower project has been stalled by paucity of funds. He said his administration inherited a lot capital projects in the city, adding that a lot of resources and time had been spent on completing them. He said most of the projects were being done in phases in order of priority.“Tobefrank with you, we don't have enough resources now to be able to complete this project. That's how it isyou complete what you can within available resources. So we are here with the Minister of Information and Culture, to see how we can discuss alternative sources of funding it,” he said. The project which is handled by Salini Nigeria Limited for the FCT Administration is a tourist site designed to showcase the country’s unity and strength and to serve as a venue of its cultural identity and a place of studies and relaxation.Ithasan observation deck and a revolving restaurant that provide a panoramic view of Abuja. The tower drew its inspiration from Nigerian tradition, particularly the Yoruba tradition such as the monumental shrines and the traditional palace enclave, among others.
The Federal Capital Territory Administration (FCTA) has finalised plan to prosecute about 413 property owners by the end of the month for defaulting in the payment of N29 billion ground rents. The Director, Information and Communication FCTA, Muhammad Hazat Sule, disclosed in a statement yesterday, that the legal fireworks may lead to the forfeiture of the affected property to the government in line with relevant laws. He said the debtors put the fate of their properties on the balance by failing to pay their outstanding ground rents, in spite of the several entreaties andHewarnings.addedthat the FCTA was left with no other option than to commence the prosecution of the first batch of defaulting property owners by virtue of the failure of all appeals to them.“Already, letters serving as last warning to the debtors have been dispatched, and the real court cases will start at the end of August 2022,” SuleRecently,said. the FCT Permanent Secretary, Mr. Adesola Olusade inaugurated a debt recovery committee with the mandate to recover the outstanding debts owed the FCTA with particular interest in ground rents and other sundry fees in the land administration as well as other land related departments. The committee had earlier announced the engagement of five law firms, owned by Senior Advocates of Nigeria (SANs), who were hired to prepare legal documents to commence legal action against the defaulting titleholders. “The Committee intends to take advantage of these highly professional legal firms to recover all the outstanding funds, because the government needs them for infrastructural development.“TheCommittee has collated a list of first batch of defaulting debtors consisting of 413 affected property owners that will face prosecution and eventual forfeiture of their property. The only choice left is to clear their debts before the end of the month,” Sule said.
The National Coordinator enjoined women in different profession to stop the habits of staying at home during the election, but get their Permanent Voter Cards (PVC), come out en-mass and vote for credible candidates, like Asiwaju Bola Ahmed Tinubu as President and Prince Dapo Abiodun as the Ogun State Governor in the coming 2023 general election. In her contribution, the Consultant/Project Manager, OLARMS, Hon. Oyindamola Oyelese and Special Adviser to the Governor on Women Affairs, Mrs. Ayotunde Lawal, described women as good coordinators with better managerial skills. He urged them to combine those qualities with punctuality and regular attendance at the meetings, so as to continue to enjoy 35 per cent representation.
The second term bid of Ogun State governor, Mr. Dapo Abiodun received a boost as the monarchs in Yewa Traditional Council, declared their support for the governor's continuation in office beyond 2023. In the same vein, the Ogun State Chapter of the All Progressive Congress’ (APC) Professional Women Council has called on the electorates in the state to cast their votes for Abiodun in his re-election bid, so as to continue to enjoy the dividends of democracy. Conveying the decision of the Council, the Olu of Ilaro and Paramount Ruler of Yewaland, Oba Kehinde Olugbenle, while speaking at the 70th birthday of a renowned business man, Alhaji Akeem Adigun, held in Lagos at the weekend, said that the monarchs in Ogun West were united and solidly behind the emergence of the governor a second term. Oba Olugbenle noted that the, "case is closed" in regards to the forthcoming general election in the state, adding that, "all those who are yet to come to terms with the reality will soon do so." The monarch, who also commended the humble nature and the love of the governor for the people of Yewaland, assured the governor of the total support of all the sons and daughters of Yewaland. "At the Yewa traditional council, we don't have any pending fight any longer over any governorship candidate, member of the House of Representatives or the Senate, the case is closed, as far as we are concerned. "We thank you for the love you have for us in Ogun West, I want to assure you that our sons and daughters are solidly behind you, don't be afraid. "Your Excellency, Be calm, all those who are yet to understand and face the reality will soon understand, some of us totally understand, we would give you that resounding victory through our votes," the Olu of Ilaro said. He acknowledged the decision of the governor to name the celebrant as a member of the Governing-Board of the Ogun State InstItute of Technology, Igbesa, expressing confidence that the celebrant and others from Yewaland appointed into various governing-boards would add more value to the institutions they were appointed into.
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L-R: Ogun State Deputy Governor, Engr Noimot Salako-Oyedele; Governor Dapo Abiodun; former Deputy Governor and the newly installed Iya Adeen of Ogun State, Alhaja Salimot Badru and Wakeel Muslim, South West, Edo and Delta States, Sheikh Iskeel Lawal, at the turbaning ceremony in Abeokuta …yesterday
The Senate Public Account Committee (SPAC) is currently scrutinising the audit queries issued against the Nigeria Social Insurance Trust Fund (NSITF) as contained in the 2018 report of the Auditor General for the Federation (AUGF). The AuGF queries indicated that the NSTIF could not justify the spending of N17.158bn in 2013, with required documents. The agency, however said some of the vouchers had been eaten up by termites. The N17.158 billion as stated in the 2018 AuGF report, was the total amount of money transferred by the NSITF from its Skye and First Bank accounts into various untraceable accounts belonging to individuals and companies from January to December 2013.
The Auditor - General's office had in the 2018 Audit report, raised 50 different queries bordering on alleged misappropriation of funds by management of the agency. One of the queries read: "The management of the NSITF as shown in statements of Account No. 1750011691 with Skye Bank Plc, for the period 1st January, 2013 to 20th December, 2013, and Statements of Account No.2001754610 with First Bank Plc for the period 7th January, 2013 to 28th February, 2013, transferred amounts totaling N 17,158,883,034.69 billion to some persons and companies from these accounts."However, payment vouchers relating to the transfers together with their supporting documents were not provided for audit. Consequently, the purpose(s) for the transfers could not be authenticated."Theseare in violation of Financial rule 601 which states that, ‘All payment entries in the cashbook/accounts shall be vouched for on one of the prescribed treasury forms. Vouchers shall be made out in favour of the person or persons to whom the money is actually due. "Under no circumstances shall a cheque be raised, or cash paid for services for which a voucher has not been raised."
Lawmakers Summon Terminal Operators Over $753m Debt Owed FG
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The Committee for the Defence of Human Rights (CDHR) has urged the judiciary to speed up resolution on the crisis between the Benin Electricity Distribution Company (BEDC), the Bureau of Public Enterprises (BPE) and the Nigerian Electricity Regulatory Commission (NERC). National President of CDHR, Kehinde Taiga, who made the appeal over the weekend in Warri, urged the relevant authorities to respect court injunction in favor of current incumbent BEDC Board to save the people of Delta State from the epileptic power supply currently being experienced in parts of the state. BEDC is in charge of distribution of electricity to Edo, Delta, Ondo and Ekiti states as it's catchment areas.Taiga lamented that investigations by the human rights group revealed that the masses were suffering from the ongoing dispute on BEDC. The BPE and NERC recently announced the dissolution of the Board of Directors of BEDC and had appointed new board members.However, a federal high court sitting in Abuja, on July 8th 2022, had ordered a status quo ante be maintained on the matter since the court granted a motion of ex parte filled by the owners. Hon justice Emeka Nwite of the federal high court in the ruling, a copy made available to THISDAY, had granted interim injunction restraining the defendants, including BPE and NERC from altering the board composition of BEDC or allowing other persons to parade themselves as directors of the company or work in concert with any person or party to alter the board composition, pending the hearing and determination of the motion on notice. Responding to a question, the President of CDHR alleged that BPE and NERC failed to follow due process before using it's stick on the board of BEDC and submitted that the raging dispute between the two parties had resulted in putting the masses of electricity consumers in the four southern states into untold hardship."TheBEDC managing director, Mrs Funke Osibodu should be allowed to continue her constitutional duties as MD until the court determines the matter at stake,” he added.
CDHR Seeks Speedy Resolution of BEDC, BPE, NERC Dispute
The SPAC, chaired by Senator Mathew Urhoghide ( PDP Edo South), interrogated NSITF's past and present managements on the issue, on Friday. The panel asked the management team, where monies totaling N17.158bn were transferred to between January and December 2013. The management could not offer any satisfactory explanations on the undocumented multiple transfers.Theofficers in charge of the agency in 2013, told the committee that documents like vouchers were left behind by them while the present Managing Director of NSITF , Dr. Michael Akabogu said no documents of such were in their kitty . He said, "The Container the said documents were kept by past management has not only been beaten by rains over the years but even possibly being eaten up by termites. "As directed by this committee, I told the past management officers on the need for them to help us out in answering this query with necessary documents which have not been made available for us." However in his submissions, the Managing Director of NSITF from 2010 to 2016, Mallam Umar Munir Abubakar said he was unaware of the query and have no explanations for it since the audit was not carried out during hisAbubaka'stenure.
Agency accuses termites of eating vouchers Lawmakers summon terminal operators over $753m debt owed FG
Sylvester Idowu in Warri
Meanwhile, the House of Representatives Committee on Public Accounts (PAC) has summoned 18 terminal operators doing business in the nation’s ports over $753 million debt owed the federal government. The lawmakers summon followed a query issued by the office of the Auditor General of the Federation to the Nigerian Ports Authority (NPA) over the indebtedness of the 18 terminal operators to the tune of $753 million and N1.61 billion respectively.TheAuGF had in his report on non-compliance/internal control weaknesses issues in Ministries, departments and agencies of the federal government of Nigeria for year ended 31st December, 2019 said terminal operators were indebted to the government to the tune of 852.094 million dollars andAccordingN1,878,560,509.57.tothe query, agreements signed between NPA and various Terminal Operators states that a fixed annual payment of a sum as specified in the schedule below to be paid in 12 equal instalments in each operating year. The query listed the terminal operators and their debt profile to include APM Terminal, Apapa ($562.060 million), Apapa Bulk Terminal ($4,621.20), ENL Consortium ($957,020.77), Greenview Development ($20,750,443.65) and Standard Flour Mills ($893.77). Others were Intels Nigeria Limited, operators of Terminal A at the Delta Ports Complex ($2,429,382.80), Intels Nigeria Limited, operators of Terminal B of the Delta Ports Complex ($4,589,576.75), and Associated Maritime Services ($328,027.64) and Greenleigh Ports Nigeria Limited ($1,734,492.41). The rest were BUA Ports and Terminal Limited ($12,254,424.55), Port and Terminal Operators Nigeria Limited ($107,311,506.46), Brawal Shipping Nigeria Limited ($226,541.72), Intels Nigeria Limited at Onne Port Complex ($430,404.81), Intels Nigeria Limited also at Onne Port ($670,954.72), Intels Nigeria Limited also at the Onne Port ($1,928,250.44), Shoreline Logistics ($1,181,023.57). Mary Nnah Ahead of an official launch, the Reddington Hospital Group has announced that it has established a Bodycare Plastic Surgery Clinic at its Hospital in Victoria Island, Lagos.Thenew centre was the result of a collaboration between The Reddington Hospital Group and Abuja Plastics, a renowned plastic surgery centre in Nigeria. The collaboration, combining an internationally accredited hospital with a renowned, international plastic surgery team with an impeccable safety record and expertise was described as the first of its kind in Nigeria. Speaking at a media briefing at the Reddington Hospital Group headquarters in Lagos, the Chief Operating Officer of Reddington Hospital, Mr. Emmanuel Matthews said the establishment of the Bodycare Centre was in response to the yearnings of discerning members of the public for a professional, affordable, high quality and world-class plastic surgery clinic in Nigeria and reduce the foreign exchange spent by Nigerians on medical tourism to India, United Arab Emirates, United Kingdom, among other countries. The Medical Director of Bodycare Plastic Surgery Clinic and Founder of Abuja Plastics, Dr. Stanley Okoro said the cuttingedge medical technology and very qualified staff currently at Reddington Hospital provide a perfect synergy between Reddington and Abuja Plastics to make the Bodycare Plastic Surgery Clinic a plastic surgery destination for Nigeria, Africa and theOkoroworld.has flourishing plastic surgery clinics in Nigeria and Atlanta, Georgia, United States of America and has extensive experience in all areas of plastic surgery.Hehas won many global awards. Okoro said plastic surgery is very beautiful and safe if done by a team of professionals in the rightOkoroenvironment.issupported by a team of plastic surgeons and specialist doctors and nurses. A key member of the Bodycare team is Dr. Jennifer Cameron, an experienced Plastic Surgeon from Minnesota, USA.
Sunday Aborisade and Udora Orizu in Abuja
Bodycare Plastic Surgery Clinic
TURBANING CEREMONY OF NEW IYA ADEEN OF OGUN STATE…
successor , Mr Adebayo Somefun who was head of the agency from May 2017 to July 2020, said those in the account section should be able to trace the documents which the current General Manager Finance , alleged to have been locked up in an abandoned container within the premises of the Trust Fund in Abuja . Irked by submissions of the past and present NSITF officials, the Senate committee ordered them to re - appear before the committee with all the requested evidential documents unfailingly on Thursday , September 22, 2022.
Audit Report: Senate Probes NSITF over N17.128bn Unexplained Spending
Reddington Hospital Launches
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TCO’s Director of Media and Communica tions, Bayo Onanuga, in a statement admonished Obi’s supporters to allow this election cycle to be about issues that would advance the growth, progress and stability of Nigeria. He, therefore, called on Obi to get his sup porters to desist from spreading lies, malice and denigrating other candidates, especially the presidential candidate of APC. According to him: “We have found that the fake news about Akufo-Addo’s letter was first published on June 22 by a rogue platform, whose url reads as worlsnews.space (sic) and site identity as World of News. “A content analysis of the site clearly showed that it is a Biafra news platform. The fake news was reposted on Facebook by the Peter Obi Support Group, same day - a clear proof that Biafra campaigners and Peter Obi supporters are the Reactingsame.torising concerns about his alleged frail health, the former Lagos governor recently said he was qualified to be Nigerian president insisting it was not a job that required physical fitness like bricklaying and grave digging. He said: “I am the quality that Nigeria is looking for to make this country very great, prosperous and united, not only in Africa but in the world. If you hear them saying, can I do it? I am not applying for the job of a grave digger; not race running, I am not a horse. I am not applying for bricklaying. I went to school to study accountancy and management. I am applying for a job of the brain; intelligent thinking; it is a job for someone who is ready to do things right. I will not let Nigerians down. I have the brain and capacity.”
of APC have the freedom of not voting him, but insisted it was wrong to make a mockery of his age and health. Accitding to him: “Old age is a blessing. And sickness can happen to anyone whether young or old. Making a mockery of Tinubu’s health or age is wrong. It’s okay if he’s not your candidate but making gest of him because of his age or health is absolutely wrong. You may not be lucky to see old age.” On his part, a former governor of Enugu State, Chimaroke Nnamani, also condemned those attacking Tinubu over his health. He, however, said he would vote for the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, in the 2023 election.
the health status of candidates. According to him, “In as much as sound health is of the essence in leadership, I still maintain that ‘mocking’ people with their health status is way too low. Good health is from God. Unguarded and un couth utterances aren’t the best tool for marketing your preferred candidate.”Inhisintervention, Nollywood actor and director, Yul Edochie, warned Nigerians against mocking Tinubu’s health status and age. In his verified Twitter handle, Edochie said the critics of the national leader In a tweet via his verified twitter handle, Nnamani, who represents Enugu East Senatorial District at the National Assembly commended Tinubu for the reforms in the administration of criminal justice, education, healthcare and employment of non-indigenes.
It was based on this that Tinubu Campaign Organisation (TCO) appealed to Obi to call his supporters to order, saying falsehood being spread by his supporters won’t win him the 2023 presidential election.
Also, Apostle Johnson Suleman of Omega Fire Ministry recently warned against mocking
POLITICS MONDAY DISCOURSEActingGroup Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY 18 THISDAY MONDAY AUGUST 15, 2022
Despite the assurance from the Presidential flagbearer of the All Progressives Congress (APC), Asiwaju Bola Tinubu that he has the capacity to rule Nigeria and make it prosperous, Nigerians remain skeptical over his state of health. Adedayo Akinwale writes Much Ado About Tinubu’s Health Ahead of the 2023 presidential election, the state of health of the presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu, has again been brought to the fore for the umpteenth time, with Nigerians expressing their views and wondering if Tinubu’s health can actually cope with the rigours of the office he seeks to Whileoccupy.some believed Tinubu’s health is unnecessarily being over flogged and mak ing an issue out of it, others believed that the recent experience of Nigeria and Nigerians as regards the state of health of their previous and serving leaders makes it a good source of Sinceconcern.theturn of the Fourth Republic in 1999, only former Presidents Olusegun Obasanjo and Goodluck Jonathan had no underlying health issues while they presided over the country. In the case of Late President Umar Yar’dua, he suffered from a heart condition, acute peridcarditis and also had a chronic kidney ailment which forced him to Saudi Arabia for three months to seek medical treatment. While away in Saudi Arabia, his absence brought the nation to the brink of a constitu tional crisis that threatened to paralyse the business of government. Even when he became incapacitated, it became an issue to transfer power to the then Vice President, Goodluck Jonathan until the National Assembly invoked the doctrine of necessity and he was sworn in as the acting President. Yar’dua later died in Also,office. President Muhammadu Buhari’s medical tourism to the United Kingdom is still very fresh in the memory of Nigerians. During his first tenure, he spent 200 days in the UK seeking medical treatment. While away, Buhari’s government was hijacked by the “cabals” who called the shots. Political observers are of the opinion that Tinubu’s health issues weren’t an attack on him, but Nigerians are only skeptical based on experience. They explained that what Nigerians want is a president with a sound mind, whose government won’t be hijacked by cabals as witnessed in the course of Buhari’s tenure. However, the recent mockery of Tinubu’s health by members of the Pyrates Confraternity in a video that trended online had elicited reactions from Nigerians including the founder of the association and Nobel Laureate, Prof. WoleSoyinkaSoyinka.ina personally signed statement last week described the lyrics of the chants of members of the Confraternity as distasteful. He said he was unaware that the associa tion ever engaged in a collective statement of sponsorship or repudiation of any candidate. He said: “My attention has been drawn to a video clip making internet rounds, of a dancing and chanting group, in red and white costume, purportedly members of the Pyrates Confraternity. The display acidly targets a presidential candidate in the awaited 2023 elections. Since the whole world knows of my connection with that fraternity, it is essential that I state in clear, unambiguous terms, that I am not involved in that public performance, nor in any way associated with the sentiments expressed in the songs. “Like any other civic group, the Pyrates Confraternity is entitled to its freedom of expression, individually or collectively. So also is Wole Soyinka in his own person. I do not interfere in, nor do I attempt to dictate the partisan political choices of the Confraternity. I remain unaware that the association ever engages in a collective statement of sponsorship or repudiation of any candidate. This is clearly a new and bizarre development, fraught with unpredictable consequences.”
It is quite apparent that the probing questions of Tinubu’s state of health would not go away anytime soon, but political analysts are of the view that politicians should stick to the issues on ground and stop the distraction. While the nation’s security has continued to nosedive under the Buhari administration, the economy is in bad shape, university lecturers have spent more time at home than in the classrooms due to ongoing Academic Staff Union of Universities (ASUU) strike, high rate of inflation, high cost of food stuff, acute hunger, among others. Political pundits also pointed out that given the current situation the country finds itself, an ailing country does not deserve an ailing leader and as such Nigeria deserves a leader with a sound mind to get the country out of the woods.
Interestingly, Ghananian President, Nana Akufo-Addo, was forced to deny writing a letter to the candidate of APC, appealing to him to give the flagbearer of the Labour Party (LP), Peter Obi, a chance in the forthcoming 2023 presidential election. The purported letter and fake news was believed to have been engineered on social media by the supporters of Obi. Akufo-Addo said he never told Tinubu to seek treatment for his health as contained in the purported letter making the rounds on social media. He said: “My attention has been drawn to a disturbing post making the rounds on social media, where it is alleged I have written to the 2023 presidential candidate of the APC, Asiwaju Bola Tinubu, to “give Peter Obi a chance and seek treatment for his health.”
While some believed Tinubu’s health is unnecessarily being over flogged and making an issue out of it, others believed that the recent experience of Nigeria and Nigerians as regards the state of health of their previous and serving leaders makes it a good source of concern. Since the turn of the Fourth Republic in 1999, only former Presidents Olusegun Obasanjo and Goodluck Jonathan had no underlying health issues while they presided over the country Tinubu
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THISDAYFintechs • MONDAY, AUGUST 15, 2022
22 08097710984 nosakhare.alekhuogie@thisdaylive.com
Nosa Alekhuogie
What is the future of digital banking in Nigeria? With the changing expectations of customers and a pandemic-inspired acceleration of digital transformation in the financial services industry, banks are now aware that digital transformation is of utmost importance to remain competitive. They need to leverage data and technology. Banks will eventually accept their institutional limitations and focus on their strengths by providing a platform that enables them to share in the fintech’s value network. Fintechs will accept their limitations and rely on banks to scale further. Also, the regulator will come to understand that the growth of the financial services industry and the digital future of the Nigerian economy are more important. Ultimately, the needs of all stakeholders will influence and drive the path to the future of digital banking in Nigeria. I see a synergy between fintechs and banks in a simple, affordable, and trusted ecosystem that leverages customer data to create access to pre-qualified and personalised financial services whilst also giving the customers tools to manage their financial wellness.
Odueso: Digital Transformation Offers Nigerian Banks Opportunity to Invest in, Fund
What do you think are banks’ major concerns about fintechs? In today’s environment, where everyone competes for the same finite resources, increased competition reduces the market share of players. When a new entrant enters the market, an incumbent may lose market share and stifle its growth if it fails to respond appropriately. It is not a unique problem for the financial services sector. Any incumbent will likely be concerned about how the introduction of a new entrant will affect its market share and its ability to adapt. As a default, most incumbents will either develop a firewall around themselves to protect their territory or ward off their competition.Developing proactive and progressive strategies to leverage digital capabilities for business transformation while increasing customer value proposition is crucial for every organisation. Even a disrupter can be disrupted. In my opinion, most disruptions should happen within an organisation or industry, and incumbents should be willing to disrupt their businesses.
This Week In Tech
Financial institutions are changing due to the emergence of fintechs; the result is an under-explored phenomenon. What can be done? In general, all industries are undergoing changes. The change is driven by the evolving needs of consumers. There is a greater awareness among consumers today than ever before, and they are demanding more from service providers. In other words, consumer behaviour is changing at lightspeed, resulting in the rise of Prosumers. The financial services sector is one of the industries with the most obvious changes because of its significance to the community. People are looking up to financial institutions to foster their personal economy and help manage their financial wellness. This is what drives the disruptions we see as the needs of the people must be met. Technology only plays a vital role as both an enabler (infrastructure) and channel (mobile, web, and co.) via which services can scale exponentially.Inmyopinion, digital transformation is a phenomenon that is still obscure to most organisations. Contrary to the common practice of simply pushing existing products and services of organisations through the web and mobile apps, as observed in most organisations, digital transformation means truly rethinking customer experience, innovating business models, and institutionalising a digitalfirst capability from a people and culture perspective.Financialinstitutions need to understand and accept that customers have a new definition for trust, which is now synonymous with the capacity developed through digital transformation - valuable, cheap, fast, multichoice, reliable, and hyper-personalisation. Most financial institutions prefer to innovate internally, but integration with fintechs is easier and more effective. How do you think they can key into this space? Every organisation has the right to choose how it develops its digital capabilities. In my opinion, there are three possible ways to accomplish this. The first two rely heavily on independence and how much capital a financial institution is willing to invest in ventures like this. A financial institution may choose to acquire an existing startup and let it remain independent or build a new startup while giving it total independence from the traditional business. However, most financial institutions have not been able to fully innovate because of their desire for control and fear of cannibalising their existing business, product, or revenue lines. This is largely what influences the incumbent’s response to disruption, which is a Financialchallenge.Institutions can also develop a robust digital capability through a partnership with existing startups to leverage their technical know-how in the creation of real value for their customers. Building internally is one of the different ways to innovate and respond to change. As a matter of fact, every organisation should have internal strategies for innovation and digital transformation in today’s clime. However, financial institutions should consider either acquisition of fintechs with complementary value networks or partnership with fintechs - where they cannot afford to buy or are unable to match the value network. In any case, it is important to separate the venture from the traditional business and give it wings to fly; total and true freedom. From the banks’ perspective, Fintechs aren’t making as much money and lack the proper IT security and regulatory certainty. They equally argue that they do not feel threatened by fintechs. What do you think? Banks have been in existence for as long as we can remember and have built capabilities over time in banking infrastructures, risk, compliance, and branch networks. In addition to the fact that they have generated tons of customer financial data and gained institutional significance. Fintechs have only emerged recently to bridge the gaps created by the changing consumer sentiments when it comes to financial services and the inability of incumbents to respond to the customer’s needs at the same speed. Consequently, Fintechs are more customer oriented, agile, and focused on a niche service/market. In my opinion, none poses a threat to the other. Fintechs cannot replace banks, and banks cannot displace Fintechs. Every player in financial services will have their own relevance and, over time, will find a way to co-exist. The heightened competition will increase the value network in financial services altogether, and customers will win in theWeend.cannot deny that, in more ways than one, fintechs and banks can co-exist in an ecosystem. At the end of the day, both players will realise they need one another to deliver the utmost value to the ultimate stakeholder - the customer. This will lead to the synergy required to deliver the bank of the future, and it is at this point we will all witness the full revolution of financial services in Nigeria. What competitive advantages do fintech firms have over traditional players and vice versa? Many fintech companies (like digital banks) offer free services as part of their unique selling propositions. The reason for this is that they usually maintain an extremely lean structure even when their revenues increase. Using fintech can sometimes save customers money on services that they had previously thought were too expensive. Additionally, fintechs have a very nimble operation because they are usually focused on a very specific niche market. From dedicated savings apps to investment apps, lending companies, insurance tech, etc., the segment is quiteCustomer-centricityclear. is another advantage of fintechs. In order to succeed, they create services that solve critical pain points in the lives of the customers but are also convenient to use. Customers today expect more convenience and accessibility, and fintechs are great at delivering this. The traditional banks, on the other hand, have decades of experience operating in the industry and an abundance of customers that have been painstakingly cultivated over the years. A combined customer base of over 50 million people who trust the banks gives them access to big financial data. This data can be harnessed to create even more unique products and services for users. Banks have built superior risk management and compliance capabilities as well as made huge investments in banking infrastructures (technology and branch networks). In my opinion, the biggest competitive advantage of banks is their regulatory backing. In what ways can banks collaborate with fintechs? Today, there is at least one fintech for every product or service offered by a bank in the fintech ecosystem. Technically, banks have been offering these products for ages, but the business models and value propositions are very different today. Taking the role of an enabler would enable banks to collaborate with fintechs by leveraging their expertise and the investments made in banking technical infrastructures as well as branch network in service of fintech. There is also an opportunity for banks to invest/ fundThefintechs.required support from banks will allow fintechs to concentrate on building niche services and user experiences on a bank’s infrastructure and not have to replicate the services and support enjoyed from the bank, thereby creating a revenue line for banks. A bank can provide everything a fintech needs. This is a “Split” strategy as it enables the banks to share in the successes and profits of Fintechs. For context, imagine there is a bank behind at least one of the fintechs that have grown to surpass unicorn status today. The longer banks delay synergising with Fintechs, the more opportunities they create for entrants from outside the financial services industry. For example, Telcos are in, Venture Capitalists are on the rise, and the Retail industry is halfway in, to mention a few. All of them are creating value around the utilities of banking.
The digital transformation expert and Country Director of Fintech Farm, Damilare Odueso, in this interview with Nosa Alekhuogie , speaks on the importance of integration of fintechs and banks, digital transformation and banking. Excerpts: Odueso
Nigeria’s Domestic, External Debt Service Gulps N15.22trn in 10 Years
Kayode Tokede Nigeria in the past 10 years has spent a whopping sum of N15.22trillion to service its domestic and external debts, data gathered by THISDAY on the official website of Debt Management Office (DMO) has revealed. THISDAY analysis of the DMO numbers showed that domestic debt service contributed 88.7per cent or N13.5trillion, while external debt interest/service contributed 11.35 per cent or N1.73 trillion ($5.3 billion) out of the N15.1trillion total debt services between 2012 and 2021. A further check revealed that the federal government in 10 years has consistently paid interest on its Nigerian Treasury Bills (NTB), FGN Bonds, Sukuk Bonds, Saving Bonds and Nigerian Treasury Bonds, while interest on Multilateral, Eurobond borrowings among others continued to increase steadily. The DMO data revealed that interest on NTBs and FGN Bonds, two major instruments the government used in borrowing funds to bridge the budget deficit, amounted to N3.4trillion and N9.27trillion in 10 years, respectively. The external debt interest/service on Multilateral and Eurobond, two major sources the federal government borrowed funds from foreign financial institutions amounted to $940.86million and $3.42billion in the years under consideration.Themultilateral financial institutions FG pays interest/service on loans borrowed are: International Bank for Reconstruction and Development, Africa Dev. Bank, International Fund for Agric. Dev., Africa Dev. Fund, European Dev. Fund, Arab Bank for Economic Development in Africa (BADEA), among others. A further look at the data showed that FG domestic debt stock by Instrument moved to N19.24trillion as at December 31st, 2021 from N6.54trillion reported by DMO in 2012, while Nigeria’s External Debt Stock closed 2021 at $38.391million from $6.527million in 2012. In addition, Nigeria’s total public debt portfolio as at December 31, 2021 stood at $95.779 million (external) and N39.556billion (domestic) from $48,496.23 (foreign) and N7,554,258.00 (domestic) as of December 31, 2012. However, the breakdown of domestic debts service showed a movement from N720.55billion in 2012 to N2.05trillion in 2021, while external debt service closed 2021 at $1.10 billion or N455.99billion from $131.48million or N20.35billion reported by DMO in 2012. It is also worth noting that N2.05trillion and $1.10billion spent on servicing domestic debts and external debts in 2021 were the highest on DMOBarringrecord.any change in plans, the FG is to spend a cumulative amount of $10.19billion servicing the nation’s external debt obligation within a 10 years period covering 2021 and 2030, according to DMO. While FG continues to spend heavily on servicing both domestic and external debts and accumulating new loans, its revenue bucket is shrinking further, largely due to underperformance of oil -sector revenue amid increasing oil thefts in the Niger-Delta region of the country. However, since the cartel decided to increase production, Nigeria has found it difficult to meet its own quota, despite a significant surge in the price of crude oil. Analysts have raised concerns as the federal government continues to obtain new loans from both local and external sources, despite growing debt profile and servicing cost. The International Monetary Fund (IMF) had predicted that Nigeria’s debt service-to-revenue ratio would jump to 92 per cent in 2022 from 76 per cent in Speaking2021.with THISDAY, the former president of Chartered Institute of Bankers of Nigeria (CIBN), President, Prof. Segun Ajibola said, “If you look at the fiscal budget in the past two years, funding of the budget has been about 30-40 per cent and that alone has put pressure on the financing profile of Nigeria.
Nume Ekeghe
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Continued on page 25 RATES AS AT AUGUST 12,2022 MONEY MARKETREPOS & P INDEX S & P INDEXEXCHANGE RATE OPR 11.25% CALL 10.25% INDEX LEVEL 613.31% 1/4 TO DATE -0.85%N416.86/ 1 US DOLLAR* OVERNIGHT 11.50% 1-MONTH 9.56% 1-DAY 0.16% YEAR TO DATE 7.64%*AS AT LAST FRIDAY 3-MONTH 10.52% MONTH-TO-DATE 0.44% Continued on page 25 THISDAY MONDAY, AUGUST 15, 2022 MARKET DATA AS AT FRIDAY, AUGUST 12, 2022 BILLS MATURITY countDis- Yield (%)Change Updated Time NTB Nov-2210- 3.903.94 0.00August 12, 2022 NTB 26-Jan23 9.8010.26 2.49August 12, 2022 NTB 9-Feb23 10.0010.52 0.00August 12, 2022 NTB 9-Mar23 10.0510.66 -0.01August 12, 2022 NTB 27-Apr23 4.905.08 0.00August 12, 2022 BONDS DESCRIPTIONPriceYield (%)Change Updated Time ^14.20 MAR-202414- 104.5510.98 -0.01 12,August2022 13.53 MAR-202523- 103.05 12.12 0.00 12,August2022 ^12.50 JAN-202622- 99.28 12.76 0.41 12,August2022 ^16.2884 MAR-202717- 112.10 12.72 -0.15 12,August2022 ^13.98 FEB-202823- 104.50 12.82 0.00 12,August2022 OTC FX FUTURES (MONTH)TENORCONTRACT Contract ($/₦)RateCurrent Updated Time 1 NGUS AUG 31 2022 433.54 August 12, 2022 2 NGUS SEP 28 2022 435.39 August 12, 2022 3 NGUS OCT 26 2022 437.24 August 12, 2022 4 NGUS NOV 30 2022 439.09 August 12, 2022 5 NGUS DEC 28 2022 440.94 August 12, 2022 MATURITYDiscountYieldCPSChange(%) Updated Time FDHP CP 17-MAR-23III 14.7716.18 -0.01August 12, 2022 VHPL CP 1-APR-23III 18.6421.14 -0.01August 12, 2022
BUSINESS WORLD Group Business Editor Eromosele Abiodun Email
A total of seven banks generated N570.43 billion from loans granted to customers in the first half (H1) of 2022 amidst the hike in the Monetary Policy Rate (MPR), THISDAY findings has revealed. THISDAY investigation revealed that the seven banks had generated N457.95 billion in interest income from loans granted to customers in H1 2021. The Central Bank of Nigeria (CBN) increased its monetary rate from 11.5 percent to 13 percent in May, then 14 percent at its last Monetary Policy Committee (MPC) meeting held in July 2022. The CBN said it increased the MPR in response to global inflationary pressures, which had continued to hurt economies around theTheworld.hike was the first time in two and a half years that the policysetting committee of the CBN will increase the MPR, which measures the interest Accordingrate.to analysts, the hike in MPR has resulted in a rise in the prime lending rate, and other lending rates by banks to the public. The prime lending rate in the banking sector hit 12.29 per cent in June, the highest in 17 months, whilst the maximum lending rate dropped to 27.61 per cent in June 2022 from 27.65 per cent reported in January 2022. Prime lending rates are the interest rate that commercial banks charge their most creditworthy customers, generally large corporations. With the exclusion of Sterling Bank, the likes of Ecobank Transnational Incorporated (ETI), FBN Holdings Plc, FCMB Group Plc, Union Bank of Nigeria Plc, Unity Bank Plc, and Wema Bank Plc generated double-digit increase in interest income on loans granted to customers in the period under review.Specifically, Sterling Bank reported N47.04billion interest income from loans to customers in H1 2022, representing an increase of 7.88per cent from N43.61billion in H1 2021. For ETI, its interest income from loans to customers rose by 16.3 percent to N168.7billion in H1 2022 from N145.08billion in H1 2021 as FBN Holdings announced 36 percent to N166.32billion as interest income generated from loans to customers in H1 2022 from N122.03billion in H1FCMB2021. Group reported N78.75billion as interest income from loans to customers in H1 2022, representing an increase of 25 percent from N63.08billion in H1 2021, while Union Bank of Nigeria closed H1 2022 with N50.46billion interest income from loans to customers as against N40.7billion in H1 2021. Other banks, Unity Bank reported N19.17billion interest income from loans to customers in H1 2022, representing an increase of 26 percent from N15.15billion in H1 2021, while oriarehu.eromosele@thisdaylive.com08056356325
Amidst Hike in MPR, 7 Banks Generate N570.43bn Interest on Loans H1
Former President, Trade Union Kaigama, and National Chairman, Nigeria Union of Contributory Pension Scheme Sector, Comrade Silva Nwaiwu, therefore, kicked against recent agitations from some Gilbert Ekugbe connect skilled artisans and service providers with consumers, has been unveiled to improve the quality of customer service rendered in the country.toprovide a meeting point between service providers and those in need of such services. and Dele Oyegbile, have perfected presently making waves in the productive service sector. According to the statement, that registers service providers in various fields, and provides a list of profiles of skilled service providers, their contacts and address locations for easy reach by those who seek such services. that has persisted in the past has been that skilled artisans like plumbers, painters, even builders and electricians have remained much in demand, but difficult to be reached at moments of need. This is what we have taken pains to do with the Speaking further, Oyegbile on his part disclosed that: “We have created a platform which makes it easy for anyone to monetize their skills by advertising themselves to users on the platform. The main objective is to solve the problem occasioned by the absence of an efficient platform to facilitate the effective connection of high quality service providers to eager consumers.”
PROCESSING CERTIFICATESOF
Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)
REQUIREMENTSDOCUMENTATION
Deep Seaport, Du Ruogang, while making a presentation to the Minister and his entourage disclosed that the construction works for phase 1 is nearing completion and is currently at about 96% completion. that construction is completed in September 2022 and thereafter port operations will start before the end of this year 2022.”
James Emejo in Abuja Contributory Pension Scheme ((CPS) as the most transparent pension system in the country’s history. They said that 18 years down the line, the scheme, which had amassed over N14 trillion in assets remained unique and less risky, andTheypredictable.alsomoved against recent agitations by some public agencies to exit the CPS.
Q1 2022: Insurance Sector Records 6.2% Growth, 15% Market Size Expansion
Lekki Port: Transport Minister Commends NPA, Seeks Rail Connection Experts Hail Contributory Pension Scheme as Most Transparent Firm Launches App to Improve Customer Service Experience
TThe Minister of Transportation, Mu’azu Sambo, has commended the management of the Nigeria Ports Authority (NPA), over the tremendous support provided to timelines.Speaking during his first official expressed delight at the pace and quality of work at the port site. However, ahead of the deep seaport completion and commencement of operations before the end of the year 2022, the minister tasked Nigerian Railway Corporation, steps towards ensuring the Deep Seaport is linked by rail. Koko, said the Deep seaport is close to becoming operational. He said, “the very fact the Deep Seaport and it’s financial partners was signed in April 2019 and by 2022 we are close to operationalization; this project symbolizes the possibilities that tenacity of purpose can actualize.” He added that NPA remains unwavering in providing every support and facilitation necessary to ensure that the timelines for take off are met.
MONDAY, AUGUST 15, 2022 THISDAY
The National Pension Commission (PenCom) commenced the issuance of Pension Clearance Certificates (PCC) to organisations in 2012. The PCC is evidence of compliance with the PRA 2014 and a prerequisite for all suppliers, contractors, or consultants, soliciting any contract or business from Federal Government Ministries, Departments, and Agencies (MDAs). Therefore, PenCom issues PCCs to organisations that apply and have fully complied with the set requirements.ThePension Reform Act, 2014 (PRA 2014) makes it mandatory for all organisations with at least three employees to participate under the Contributory Pension Scheme (CPS). Compliance with the PRA 2014 by employers includes, at minimum, the following: Savings Account (RSA) with any Pension Fund Administrator (PFA) of their choice. pension contributions to the appropriate Pension Fund Custodian (PFC) no later than seven working days from the date of payment of salaries. their custody prior to the commencement of the CPS to licensed pension operators.
PENCOM DG, Aisha Dahir-Umar Pension Clearance Certificate: Requirements and Processing
government agencies seeking to pull out of the Speakingscheme.during a televised programme, both, however, expressed their disapproval of the exemption of permanent secretaries, heads of service, Accountants General of the Federation, and other top government functionaries from the CPS. Kaigama, particularly pointed out that as of 2004 when the administration of former president Olusegun Obasanjo enacted the Pension Reform Act (PRA), it was meant to address the problem bedeviling the pension system then. According to him, Section 5(1)(a) of the PRA 2014 was derived from Section 291 of the 1999 Constitution of the Federal Republic of Nigeria as amended, which clearly exempts Secret Service.
Also, Section 5 (1)(b) of the PRA 2014 exempted public servants who had three years or less to retire as of 2004 when the CPS was implemented. Kaigama said so far, the N14 trillion pension assets had been plunged into less risky portfolios, economy. There is no system that might not have one or two problems. “This is a system that is well novel, a system in this country that is as transparent as the Contributory Pension Scheme.” He argued that the federal government proposed to spend N577 billion on payments of pension and gratuities in 2022 alone adding that exempting any government agency will further increase the government’s annual budgets for pension and gratuities.
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Abubakar, who stated this while speaking at the second edition of the insurance industry held a commendable market average retention of 73.3 per cent in the first quarter of 2022. Abubakar said in line with strengthened its regulatory oversight and implored operators to settle genuine claims within a reasonable time to ensure perfect achievement of their obligations. He however regretted that despite the above improvement indices, the insurance penetration in Nigeria still remained low at 0.5 per cent computed as Gross of Gross Domestic Product) which he said was the lowest in Africa. To deepen penetration, Abubakar said the Commission has embarked on a number of initiatives with a view to stimulating further growth in the Someindustry.oftheinitiatives embarked upon by the Commission, he said, include Market Development and with state governments; Compulsory Others according to Abubakar are Web Aggregator Guideline; Sandbox Regulation.Abubakar said that insurance regulation and supervision were the bedrock of national economic development, stressing that he and regulatory initiatives would positively impact the insurance industry if achieved and that the industry would witness tremendous development and growth. He implored insurance practitioners to remain complaint and support the commission’s efforts in developing the sector.
The processing of certificates is carried processing the applications for the PCC, the Commission is guided by one of the primary objectives of the PRA 2014, which is to ensure that every person who works in either the public or private sector receives his benefits as and when due. Under the CPS, benefits can only be received as and when due where the employer remits its employees’ pension contributions as appropriate. The applications are processed within the advertised time frame of 15 working days, the event of any deficiency in an application, a notification is forwarded to the applicant for remedial action before the issuance of the PCC. However, the PCC will not be issued if the applicant fails to provide the requested documents. The PCC issued by PenCom is valid for one year, from January to December. However, applications are processed throughout the year, and regardless of the date of issuance, the validity of all PCCs expires by 31st December. issued to the applicant organization without cost.Certificates are collected at the point of submission, either the Commission’s Head Office or Zonal Offices. Furthermore, applicants can confirm the status of their applications by checking the Commission’s website www. pencom.gov.ng where a list of organisations that were issued the PCC is uploaded to facilitate verification by interested parties. Consequently, any certificate that is not found on the website is not valid. Organisations whose applications were unsuccessful are advised on the specific issues concerning their applications. According to records, in the second quarter of 2022, PenCom received 12,760 applications from organisations for Pension Clearance Certificates (PCCs). Out of this number, PenCom’s data shows that PCCs were issued to 10,085 organisations that met the, while 2,675 applications are being processed. The records also show that a total sum of N43,778,899,890.04 was remitted into the Retirement Savings Accounts (RSAs) of 141,701 employees by the 10,085 organizations that were issued PCCs. PenCom has continued to strive to ensure good service delivery regarding processing time and feedback as it relates to the issuance of the Pension Clearance Certificate and has advisable for applications for Pension Clearance Certificates to be appropriately assembled and delivered in good time for the Commission to meet up with its processing time. Ebere Nwoji of macro economic challenges which has bedeviled businesses in Nigeria, insurance sector recorded a year-on-year growth rate of 6.2 per cent at the end of March, 2022. The commission also said the market size of the sector also grew at 15 per cent in the same period, thus standing out as one of the fastest sectoral assets expansion in Nigeria during the period.
Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising)
A company wishing to obtain the PCC can do so by forwarding an application to PenCom and attaching the following: a certified list of employees of the organization as at the end of the last fiscal year; certified rates of monthly contributions indicating the employer portion (minimum of 10 percent) and employee portion (minimum 8 percent) and; evidence of remittance of pension contributions for the last three fiscal years, for organisations that were in existence for that period, and, from the date of incorporation/registration/licensing to the last fiscal year, for organisations that addition, the organization must also attach evidence of transfer of pension fund and assets for any pre-2004 retirement benefits scheme into the employees’ RSAs, where applicable; evidence of remittance of all outstanding pension contributions and penalties, where applicable; Policy, which should include Certificate of evidence of Applicationspayment.forthePCC can be submitted at either the Commission’s Head office in Abuja or any of the Commission’s Zonal Offices. The addresses are available on PenCom’s website, www.pencom.gov.ng.
With the management improvement in quality of service delivery to customers, Transcorp Hotels Plc migrated from its unaudited half year (H1) ended June 30, 2021 loss to an impressive unaudited half year (H1) ended June 30, 2022. Transcorp Hotels migrated from a loss before tax of N110.74million to N2.37billion in H1 2022, and reported N1.69billion profit after tax in H1 2022 from a loss of N110.74million reported in H1 2021. The top hospitality company’s growth in revenue is on the backdrop of the management expansion in key business segments such as its Rooms service in Transcorp Hilton Abuja and Transcorp Hilton Calabar as both remain the first-choice destination for high-profile guests, and catering to guests from all over the world for any travel need including business and leisure. As the global economy continues to open over COVID-19 restrictions and as tourism recovery continues, occupancy rate has averaged at 79 per cent in Transcorp Hilton Abuja during the period and lifted revenue in H1 2022 as against 54 per cent occupancy rate reported in H1 Also,2021.growth reported in its food and beverages, recreation service, shop rental, among others played critical role in revenue generation by Transcorp Hotels in the period under review.
MANAGEMENT’S OPTIMISM Commenting on the H1 2022 performance, the Managing Director/ CEO of Transcorp Hotels, Dupe Olusola in a statement, said the Group’s properties in Abuja and Calabar remain the first-choice destination for high-profile guests, catering to guests from all over the world for any travel need including business and leisure.According to her, “We have delivered an excellent performance in the first half of the year. We are constantly innovating and tailoring our services to the needs of our guests. We are particularly proud of the spectacular performance in our domestic tourism and leisure segment despite the recovery in our International Business Traveller (IBT) and Group Business Segments. “Our IBT and Group business segments have continued to recover and contribute significantly to our growth. This is a testament to our commitment to continually create value for our customers and stakeholders in line with our corporate mission. “Our half-year performance has strengthened our confidence in our ability to continue to grow and improve profitability, ensuring great returns to our shareholders,” she said. She added that, “The hospitality brand is investing in some major projects to expand its operations and further enhance value. These projects include improvements at its hotels, especially Transcorp Hotels Calabar where rooms and facilities are being upgraded.
BUSINESSWORLD STATUS REPORT 25
NIGERIA’S DOMESTIC, EXTERNAL DEBT SERVICE GULPS N15.22TRN IN 10 YEARS
AMIDST HIKE IN MPR, 7 BANKS GENERATE N570.43BN INTEREST ON LOANS H1 Wema Bank generated a whopping sum of N39.97billion from interest income from loans to customers in H1 2022 from N28.33billion in H1 2021.Commenting on banks reaping robust interest income from customer’s deposit, the Vice President, Highcap Securities Limited, Mr. David Adnori said, “Most customers are only able to obtain loans at a rate higher than the prime rate mostly because they are more likely to default on a loan. “An increase in the MPR by the MPC will result in an increase in the price (interest rate) you pay for borrowing and vice versa. “Banks responded to this hike by jacking up their lending rate as well. The consequence of this is that borrowers would have to pay more when they borrow from theHebank.”added that the recent decision by the MPC to hold MPR at 14 percent, implies that businesses looking to borrow from banks to fund their operations would only be able to get loan facilities from banks at rates above 14per cent “That is, the cost of borrowing would still remain on the high side. At MPR as high as 14per cent, businesses would continue to face high cost of borrowing and limited funds for local production,” he Speaking,added. analysts at Vetiva research stated: “We expect cost pressures and FX liquidity issues to persist throughout the year and this may dampen the anticipated price stability as industry players may have to pass the increased cost to “Also,consumers.therecent hike in interest rates by the CBN will make borrowings more expensive and may weigh on investments in the real estate “Althoughsector.therising interest rate may affect demand, the ongoing construction activities by the public and private sectors would support cement demand through the remainder of the year.” Analysts at FSDH Capital in a report titled, “Nigeria Macroeconomic Update 2022 Q2: Navigating through Bumpy Political Season and Tough Economic Headwinds,” explained that the aggressive inflationary pressure has necessitated the need for a higher interest rate in Nigeria and other countries.
Management fees are made up of management fee payable to Hilton International at 1.5 per cent of revenue, incentive fee based on an accelerated rate schedule applied on gross operating profit. These fees are specified in the executed management agreement between Transcorp Hotels and Hilton International for the provision of Hotel Management and other related services to the Company. Meanwhile, finance cost from interest on debts and borrowings dropped by 4.02 per cent to N2.05 billion in H1 2022 from N2.14billion in H1 2021, while finance income grew significantly by 146.84per cent to N2.6million in H1 2022 from N1.06million in H1 2021. A subsidiary of Transnational Corporation Plc, Transcorp Hotels had reported a 77.4per cent growth in revenue to N7.04 billion in first quarter (Q1) ended March 30, 2022 from N3.97 billion in the same period in 2021. The hospitality company that also owns an online booking platform aura, also recorded more than 600 per cent growth in profit before tax to N1.067 billion from a loss of N203.7 million in the same period last year. The group in 2021 full financial year had announced 114 per cent growth in revenue to N21.74 billion from N10.16 billion reported in 2020, while Gross Profit rose by 143 per cent to N16.23 billion from N6.67 billion. The group had maintained an impressive growth in its performance, signaling its strong recovery from the impact of COVID- 19 in 2020. The performance also reflects the company’s resilience and nimbleness, as it consistently leverages innovation to achieve an outstanding performance, breaking occupancy, and revenue records in 2021. With the expansion in hospitality business and facilities upgrades, Transcorp Hilton Abuja and restaurant Zuma Grill have been nominated in six categories of the 2022 World Luxury Hotel and Restaurant Awards. The Transcorp Hilton Abuja nominated for Luxury Business Hotel, Luxury City Hotel and Luxury Hotel, while Zuma Grill got nominated for Fine Dining Cuisine, Most Romantic Ambience and Luxury Hotel Restaurant.
“The Company is also developing an event center at Transcorp Hilton Abuja which will be equipped to host major events in the capital city. The project is expected to be completed in March 2023. “Transcorp Hotels is also working on extending the rooming at Transcorp Hilton Abuja to cater to the frequent overflow, as the hotel remains first choice for guests in Abuja. Other projects are billed for Lagos and Port Harcourt.”
Transcorp Hotels Drives Revenue, Profit With Service Delivery
“Of course, our major source of revenue which is the oil currently unstable because of the global and domestic issues attached to Oil prices. “These challenges have reduced Nigeria’s capacity to generate revenue initially. However, governance must continue and there is a need to borrow both local and foreign. Mind you, when you borrow, you will have to service them, which has contributed substantial to our debt service burden and it is expected to impair other aspects of financing of government, especially the capital expenditure.” Also speaking, Prof. Hassan Oaikhenan of the Department of
with respect to further investment in government securities. According to him, “It presents government in good light, with the opportunity to fund developmental projects across the country. “The negative aspect of debt servicing in Nigeria is the sustainability problem that has now greeted the current administration of President Muhammadu Buhari, whereby, more than 100per cent of revenue is now being expended on debt servicing, giving room for possible default and failure of government in no distant future, especially with respect to foreign debtCommentingcomponent.”on the rising debt profile, the CEO, Centre for the Promotion of Private Enterprise (CPPE), DR Muda Yusuf noted that, “When we take account of borrowings from the CBN and the stock of AMCON debt, the debt profile would be in excess of N60 trillion. Although government tends to argue that the conditions was not a debt problem, but a revenue challenge. But debt becomes a problem if the revenue base is not strong enough to service the debt sustainably. It invariably becomes a debt problem and possibly a debt crisis. Government actual revenue can hardly cover the debt service obligations.“Whichimplies that the entire capital budget and the recurrent expenditure may have to be funded from borrowing. This is surely not sustainable. The finance minister reported recently that in the first four months of this year, debt service to revenue ratio was over 100per cent. What is needed is the political will to cut expenditure and undertake reforms that could scale down the size of government, reduce governance cost and ease the fiscal burden on the government.”
THISDAY MONDAY, AUGUST 15, 2022
HOTEL SERVICESMANAGEMENT
REVENUE GROWTH Specifically, Transcorp Hotels grew its revenue by 70.8 per cent to N14.99 billion in H1 2022 from N8.77 billion reported in H1 2021. From the profit & loss figures, the breakdown of revenue showed 71.9 per cent increase in room sales to N9.6 billion in H1 2022 from N5.59 billion in H1 2021. The revenue generated from food and beverages rose by 99.2 per cent to N4.64 billion in H1 2022 from N2.33 billion in H1 2021, while revenue generated from shop rental grew significantly by 99.2 per cent to N4.64billion in H1 2022 from N2.33billion in H1 2021. Transcorp Hotels reported N4.05 billion cost of sales in H1 2022, representing an increase of 75.34 per cent from N2.31 billion in H1 2021 to positioned gross profit to N10.94 billion in H1 2022 from N6.67 billion reported in H1 2021. This brings gross profit margin to 72.98per cent in H1 2022 from 73.68 per cent in H1 2021. Aside revenue, the decline in finance cost and effective management of operating expenses were also other financial parameters that lifted Transcorp Hotels’ from losses to profitability. With about 37 per cent increase in operating expenses (OPEX) to N6.81billion in H1 2022 from N4.99 billion in H1 2021, Transcorp Hotels reported N4.42billion operating income from N2.03billion in H1 2021. A total of N890.29 million management fees in H1 2022 from N573.8 million reported in H1 2021 and 41.3 per cent increase in Energy cost to N1.09 billion in H1 2022 from N773.14 million in H1 2021, contributed to Transcorp Hotels’s operating expenses. The group’s OPEX/revenue dropped to 45.5 per cent in H1 2022 from 56.82 per cent in H1 2021.
Economics, University of Benin maintained that increasing borrowing and debt services have adverse implications on the nation’s economy. “There is nothing bad in borrowing if its essence was used to finance key projects. If the borrowing was used to finance consumption, that means the borrowing present a deadweight loss to the economy. “It is clear that the more the debt, the more debt servicing and it has implications for inter-generations welfare. All these are what a responsible government cannot look“Unfortunately,away. what we have had over the past seven years plus is that this government has been rather irresponsible in borrowing because we keep incurring debts without really seeing the productive use to which such debts were borrowed.” He, thus, called on the government to be responsible in its spending and cut down on the cost of governance, two starting points to get Nigeria’s economy out of tripped debt services. On his part, the CEO, Wyoming Capital & Partners, Mr. Tajudeen Olayinka said debt servicing by the federal government over the years has encouraged investors to provide additional support to the government
BALANCE SHEET ON A STRONG STANCE
As of June 30, 2022, Transcorp Hotels reported N114.01billion total assets from N115.9billion reported in full year ended December 31, 2021. The group’s current assets dropped by 18.9 per cent to N7.82billion as of June 30, 2022 from N9.6billion in 2021 FY, while total long-term assets closed June 30, 2022 at N106.19billion, representing a decline of 0.05 per cent from N106.25billion reported in 2021 FY. The balance sheet structure showed stronger retained earnings of about N45.58billion as of June 30, 2022 from N44.58billion in 2021 financial year to close total equity at N63.2 billion as of June 30, 2022 from N62.22billion reported in 2021 financial year. In addition to balance sheet structure, total liabilities closed June 30, 2022 at N51.99billion from N53.67billion in 2021, to bring the proportion of total liabilities/ total assets at 45.6 per cent from 46.3 per cent reported in 2021 FY. As current liabilities dropped by 5.6 per cent to N24.19billion as of June 30, 2022 from N25.63billion in 2021 FY, long-term liabilities also depreciated by 0.8 per cent to N27.8billion as of June 30, 2022 from N28.04billion in 2021 FY.
Gilbert Ekugbe The Lagos State government has expressed optimism of boosting its Internal Generated Revenue (IGR) despite the harsh business environment. The Commissioner of Economic Planning and Budget, Lagos State, Sam Egube at the Y2023 budget consultative forum, Ikeja Division, said the State is resilient to improving its revenue to Gross Domestic Product (GDP) of 2 per cent to 5 per cent.
She said: “With 56 Bridge, employers of labour can easily shortlist candidates, schedule interviews, review and rate candidate’s interview responses as well as conduct employment tests while generating a comprehensive recruitment report. On the other hand, candidates can also create profiles, download resumes and take interviews.”
The Director, Marketing and Business Development at BridgeGap Consults Limited, Mr. Chiedozie J. Egbe, rolled out the unique features of 56 Bridge to organisations and job seekers which include Job postings that allow organisations to post jobs for potential applicants; employment tests where recruiters set tests for job seekers and Video Interviews, where interview questions are set and candidates can take such interviews from anyOtherlocation.features of the app include Candidate Ratings, which allows scoring of candidates on the go; Video Library, Analytics Reports and SMS/Email Interview Invites.
BUSINESSWORLD NEWS 26 MONDAY, AUGUST 15, 2022 THISDAY
R–L: Minister of Transportation, Muazu Jaji Sambo; Managing Director Lekki Port, Mr. Du Ruogang; Managing Director/ CEO Nigeria n Ports Authority (NPA), Mohammed Bello Koko and Director General, Nigeria Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh when the minister visit ed the port in Lagos… recently
AIB Commissioner Urges Airlines to Set Up Inv estigation Unit
The Commissioner further disclosed that when fully commissioned AIB-N training school would play significant role in training airlines’ personnel in accident investigation, which would help them in investigating occurrences with a view to enhancing safety in their operations.Hedescribed the AIB Training School, as a world class training institution located in Abuja, which is near completion and it is expected to commence operations before the end of theSingaporeyear. and other two countries, according to Olateru, have signified readiness to assist the AIB training school. The Cameroonian delegation led by Mrs. Leopoldine Essimi of Ministry of Transport included Col. Brice Okomou, Capt. Raymond Ekenglo and Mrs. MispaAccordingSamnick.to Essimi, they were in Nigeria to seek AIB-N expertise in the reading of the flight recorders, transcription of the Cockpit Voice Recorder (CVR), analysis of the Flight Data Recorder (FDR) and FDR animation.TheDHR-6-400 Twin Otter (registered TJ-TIM) was operating Yaoundé (Nsimalen) – Dompta – Yaoundé (Nsimalen) on May 11, 2022 when it crashed killing all the passengers and crewmembers. The aircraft was found crashed in a forest, not far from Nanga Eboko. According to Olateru, Nigeria was part of the investigation in line with the International Civil Aviation Organisation (ICAO) Annex 13 since there were Nigerians onboard the ill-fated aircraft adding, however, that Cameroon has not decided whether it would cede the investigation completely to Nigeria or not.
Firm Introduces App, to Ease Recruitment Processes
The Commissioner and Chief Executive Officer of Accident Investigation Bureau, Nigeria (AIB-N), Akin Olateru has called on all Nigerian airlines to establish a unit for accident investigation in their respective organizations to enhance air safety.Olateru made the call while receiving the investigation team from Cameroon probing the crash of the Havilland DHC -6-400 Twin Otter operated by Caverton Cameroon at the Bureau’s headquarters in Abuja at the Accordingweekend.to a statement issued by the Bureau’s General Manager, Public Affairs Mr. Tunji Oketunbi, the Commissioner said this would help the airlines to understand and take advantage of the benefits of accident investigation to boost safety in their operations. According to Olateru, big carriers like American Airlines have such units, which have greatly benefited the carriers, adding that it is the responsibility of everyone to have an understanding of accident investigation in Africa.
Emma Okonji Interswitch has unveiled its easy-to-integrate Application Programmable Interfaces (API) platform for developers creating digital products and solutions for Africans.Thelaunch was held recently at the Zone Tech Park, Gbagada, Lagos, where developers were intimated with the benefits of integrating Interswitch APIs on theirSpeakingproducts.atthe launch, Business Development Manager for Merchant Acquisition at Interswitch, Sunday Olaniyan, said: “Developers will earn 5 per cent of every transaction fee that Interswitch charges on their referred merchants for 5 years. This is one of many planned incentives aimed at fostering innovation and supporting the creativeManagingeconomy.”Director, Paymate, Interswitch Group, Muyiwa Asagba, stated that the tech giant remained focused on providing digitally empowering products for developers and business owners who are crafting solutions for the everyday African. Asagba said: “For two decades, Interswitch has consolidated its efforts in its support for the growth of the African tech ecosystem by availing developers with valuable resources that enable them to build commercially viable products with ease. “Away from that, we also take seriously the need to innovate so as to stay ahead of the pack, which is a core part of who we are as an evolving technology brand.”Alsospeaking at the unveiling event, Group Head, Engineering, Paymate, Interswitch, Abdul-Hafiz Ibrahim, said: “Launching our API Platform was driven by the need to make API integration seamless for developers without the bureaucratic hurdles that have characterized the API-integrating system over the past few years. “Not only are we making products and solutions development faster, but we are also creating an interface where developers can communicate, share ideas and offer solutions at an accelerated pace.”
According to him, the State would continue to streamline its processes to boost its IGR, adding that the State’s IGR has continued to improve for the past three years. He noted that the State government would also be prioritising investment in digitalising its processes, saying that digitising its process would triple the State’s revenue base. He said the forum is a commitment the Lagos State government has with the people of Lagos and its promise that the governance structure would be consultative in nature “The idea of the forum is to report back to the people. Last year they asked for some certain things, some of them we were able to do and some we have not, so it is important we come back and report to them.“So far the people of Lagos are happy in terms of my reporting. They made certain requests and they acknowledged certain things they asked for and they encouraged us to do a lot more. We are happy because they are participating and working with us so that we are on target on everything we are doing,” heHeadded.said the development of Lagos is a collective effort adding that the Fitch rating of triple A for Lagos is a reflection of the successful partnerships the State has continued to improve upon. “This forum is the beginning of a budget cycle and it is to see what the people are talking about. We are working on a medium term framework to capture the additional requests and rationalise it. We have a medium term sector strategy that prices the budget expenditure initiatives while also prioritising it, “he said. He said the state’s Internal Generated Revenue (IGR) currently stands at N346 billion compared to N451 billion it recorded last year, pointing out that the IGR represents a 77 per cent performance. In his words: “We have always exceeded an 80 per cent budget performance in this administration. We really want to do a 100 per cent. It is our aspiration that we will move this performance as we move into the second quarter to hit over 80 per cent. Over the last three years, our State has achieved very strong budget performance in the neighborhood of 80 per cent and that is something we will continue to drive irrespective of the challenges we face as a nation.”
LASG Expresses Optimism on Improved Revenue Generation amid Economic Downturn
Speaking during the launch ceremony, the Director of Operations for BridgeGap Consults Limited, the parent company of 56 Bridge Ms. Mosunmola Obembe said the app is an end-to-end recruitment platform that is cost and time effective, where candidates’ shortlisting and interview processes are re-defined for a better talent addition to organisations.
Nume Ekeghe In line with its vision of streamlining human resource functions and processes in the workplace, BridgeGap has launched 56 Bridge, a recruitment app, which will revolutionise job applications, improve efficiency and reduce bottlenecks in the recruitment process for organizations.The56Bridge app, which was launched in Lagos recently is primed to assist organisations attract and hire top talents from any part of the world. In the same vein, job seekers can apply for jobs, write tests and attend interviews from the comfort of their homes.
Interswitch Launches API Platform for Developers, Introduces Referral Incentive
Chinedu Eze
MONDAY AUGUST 15, 2022 • THISDAY 27
DEVELOPING A NEW GENERATION OF LEADERS: THE FOUNDATION FOR NIGERIA’S PROSPERITY etc., should try to answer these questions. Only then can we embark on the journey of nation-building.Wemustbuild systems and campaigns that must drive our point home. We are Nigeria. You are Nigeria and Nigeria is you. We must help emerging leaders to imbibe the spirit of patriotism which is, “I represent Nigeria. I am Nigeria. Everything I do will either bring shame or be a pride to Nigeria.” to obey an eleventh commandment, “Love Nigeria as you love yourself.” It is an urgent message and the fact is that if we don’t act, our children will inherit the wind. We are the new generation that live for the future. When a man stops living for himself, then and only then has he started living. We must know that the world is watching, one thing the whole world waits to applaud is our sense of collective purpose and our sense of national identity. It will show in the way we drive, keep our environment clean, respect other people’s rights, love each other, help orphans and destitute, treat our fellow citizens when in positions of power, and the way we speak about our country. If we are to be taken seriously by other become serious with ourselves by seeking solutions and be willing to implement them. Every Nigerian must be a part of the problemsolving process by taking responsibility rather than apportioning blame. Nigeria has come of age and should therefore begin to create new systems and institutions that represent the Nigeria that we would love our children to liveGoingin. forward as a matter of fact, whenever the elections are taking place in Nigeria, the new thinking must be how we can come out enmass to bring about a free and fair election. Good and quality men and women who have politics is a dirty game must show patriotism now by coming out to vote the right people in. The opportunity to show patriotism is right before us. Let us elect men and women of vision, character, and competence with no consideration for tribe or religion. Let us practice what the great American president inspired the world with, “Do not think of what America can do for you, think of what you can do for America.” Let us as a continent think of the common good. That is the way to go and believe me Africa will work.According to Ronald Reagan, “The very essence of successful leadership is the ability to grasp and hold a vision.” Leadership is the capacity to translate vision into reality. It becomes very imperative for every individual shaping society to as a matter of necessity develop a great sense of direction because to the person who does not know where he wants to go to, there is no favourable wind. It is simple, you must audit your life to see the reason people are not following you despite solve this loyalty question. Leaders are dealers in hope. I know with all certainty that in these times of uncertainty, Nigeria needs men and women who are driven to succeed. Men and women who will have the courage to dream of things commitment to make them happen. It will require vision to mobilize the people of this great continent to rally behind great ideas to pursue a common cause of achieving greatness. It will interest you to know that nations that have made great progress followed the same principles. Singapore as a nation took the very best of her young people and inspired them to see a great future that they must achieve. The minds of these young people were groomed to have no place for small thinking. The big thinking made a demand on their potential. That was how they started their own journey to greatness. Big thinking precedes great achievement. We must do same here in our nation. Every generation needs a resolution. I am calling on young men and women in this country who have found purpose to rally around our vision of a great country where everything works. Let us resolve that destiny is not of chance, but of choice; not something to wish for but attained. It requires discipline, commitment and hard-work. The very nature of vision will stretch you to be your very best. Vision will task your mind; it will make great demand on you but I assure you that it will inspire you to great achievement. If you are bored with life, if you do not get up every morning with a burning desire in your heart to do something, then you do not have enough vision. The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it. We must be a consortium of individuals who will be lost in the pursuit of big dreams of what our nation can become and have the discipline to do the right things that will help us achieve our dream. I conclude today by calling on the Nigerian leadership to invest huge resources to groom and nurture a new generation of leaders who will develop the capacities and commitment to help our country come out of poverty. And one last thing, great people of Nigeria, you must remember if a person does not have a purpose for waking up, sleeping becomes interesting. Okorie is a Leadership Consultant and Author
EDITORIAL POWER SUPPLY AND THE PRIVATE SECTOR See page 29 See page 29 T U S N See page 30
1THISDAY MONDAY AUGUST 15, 202228 Monday August 15, 2022 Vol 27. No 9987 www.thisdaylive.com opinion@thisdaylive.com
HERBERT WIGWE: A MELANGE OF VALUE AND IMPACT AYOOLA AJANAKU pays tribute to Herbert Wigwe, frontline banker and administrator, aged 56 ALL IN THE FOURTH REPUBLIC It is a republic where anything goes, writes OMOROTIONMWANJOSEF
LINUS OKORIE urges the country’s leadership to invest huge resources to nurture a new generation of leaders who will lift many out of poverty
The concept of leadership is a very interesting factor that can determine how fast Nigeria can go as a nation. The kind of leadership that has been practiced across Nigeria for decades has been predominantly self-serving leadership. This kind of leadership has no place for human capital development or real transformation. This type of leadership has imposed huge levels of poverty on Nigerians. There is huge lack of political will amongst most leaders at all levels to execute policies that can impact positively on the people. This has resulted in the failure to tackle the economic challenges facing the people in all parts of the nation. It is now very obvious that while the good men and women were sleeping and uninvolved, the country’s decision making and the result is so damaging that we should not be surprised we are where we are. It is up to the new generation to simply as a matter of urgency stage a deliberate war against all forms of ideology that has taken us backwards. Nations of the world are making great progress and we must be at the center of that prosperity. We must show great commitment to jettison old ideas of self promotion, stealing of public funds and intolerance of one another and embrace the spirit of patriotism. Our nation is looked upon by citizens of the world as a failing nation that has squandered opportunities for greatness. Some friends of Nigeria still believe that our nation can make great progress with proper leadership development at all levels. Nigerians are a hopeful, optimistic and happy people who have resiliently waded through tough and turbulent economic and political climates of past administrations yet believe in a better tomorrow. This faith which has kept us is a seed of patriotism that needs to be pulled from the sub-consciousness of our minds and nurtured into greater awareness on our attitudes and natural dispositions. We must develop and greatly invest in our people to provoke great levels of patriotism. Patriotism is the display of love for the society and nation where one is born. In a country like the United States of America, there is an unconscious integration into the system (often referred to as a “Melting Pot”) that seamlessly blends and integrates foreigners from all racial demographics into the prevailing national ideology – “Liberty and Justice for All”, most often called the American dream. Many people often ask the question, “is there any such thing as the Nigerian Dream?” My answer is “yes!” Our own case has been a total lack of understanding of our core values. We need to awaken and answer the questions: Who are we? Where are we? Where should we be going? What do we believe in? What is worth dying for? Leaders
3THISDAY MONDAY AUGUST 15, 2022 29 any measure to the National Assembly from the time of its introduction to the time it is processed in the Committees, the executive could amend or even withdraw that measure but once it is reported out of committee, the president can no longer do anything about it. Here, the case of the Niger Delta Development Commission (NDDC) comes to mind. This is a case where the president presented to the Senate a list of nominees of members of the board of the commission. The Senate worked day and night and properly screened the nominees was forwarded to the president and the next step should have been to inaugurate the board. The stand of the law is that the president must inaugurate the board. He could decide to dissolve that board a day after inauguration if he musters enough board he Contrarymust!to expectation, the president has been running the NDDC as a Sole Administrator through his minister of the Niger Delta Ministry. This is an aberration which can only take place in this Fourth Republic.Theseevils are gradually creeping into other tiers of government. For instance, in the Eighth Assembly of Edo State, eight members have been constituted into the majority in a 24-member house, no thanks to Governor Godwin Obaseki who has refused to swear in the other members. These eight members have been making laws and giving Obaseki the annual appropriations on which he has been running the state, all be it illegally - a case of an empty sack standing erect! Like in a con-game, where those who would have reported a crime are part of it, the federal authorities are totally immersed in illegalities so their moral authority to intervene has been totally eroded.Wehave attempted to outline some of the ingredients that went into the blend that has brought Nigeria to this sorry state. Nigeria is now kaput. And suddenly, our legislators are beginning to talk of impeaching the president. What a copout, the time for scapegoatism is over! We wonder if these legislators are aware of the process of impeachment.
HERBERT WIGWE: A MELANGE OF VALUE AND IMPACT AYOOLA AJANAKU pays tribute to Herbert Wigwe, frontline banker and administrator, aged 56 He led the drive that led Access Bank Plc to morph into a holding company structure (HOLDCO) with multifaceted value offerings to the market(s)
Omorotionmwan writes from Canada Justice Chukwudifu Oputa (1916-2014) we are infallible, but we are infallible because investment sense, these APC men are super smart.Before we woke up, about 50 of them had purchased their Party’s nomination forms for knowing what they knew. As we speak, these men are still in the race. you never can tell if the “fourth shall be the aspiration, and depending on which side of aspirants could, by the beginning of May 2023, have victory delivered to him in the FourthHearRepublic!inliesa bold agenda for legislative action: there must be an end to the obnoxious idea of nine odd fellows continuously vetoing the collective decisions of more than 50 million Nigerian voters. into our political lexicon and so slowly has months to appoint his ministers. Thus, he ran the country as a Sole Administrator in utter contravention of the very Constitution which he swore to uphold. Mr. Go Slow has changed the course of legislation. Just when a bill has gone through the rigorous process of passage in the National Assembly and processed to the President for his assent, the President must now dispatch his men to go and shop for reasons why he should withhold assent. out some sections of the passed bill. That’s the Go-Slow way of repassing a bill already passed by the legislature. What an innovation in the process of law-making! Each time the president signs any of the bills passed by the National Assembly into law, there is a wide celebration in both chambers be the exact opposite – where the National Assembly has graciously passed a measure introduced by the president – the president and his men should be the ones to celebrate. an administration suddenly refuses to implement its measures. We have said elsewhere that when the executive introduces Some moons ago one of Africa’s most illustrious bankers, Herbert Wigwe and his business partner Aigboje Aig2002 that led to the acquisition of Access Bank which was at the time a small commercial bank. Value centric DNA is entity christened Herbert Wigwe who cut his teeth at Coopers & Lybrand, Capital Bank then Guaranty Trust Bank MD/CEOPlc. in January 2014. When he took over the leadership mantle of Today, that bank is arguably number one in terms of parameters such as share capital, loans, deposits, reach and customer satisfaction because of his dedication, commitment, discipline, and expertise that’s evident for all and sundry to witness. The bank’s growth and expansion multi-billion-naira merger with Diamond Bank and the acquisition of excellence and one of Africa’s brightest has exhibited a strong bandwidth to engineer and transform for the big stage, as evidently seen in how he transformed Access Bank into one of Nigeria’s top spread across sub-Saharan Africa and beyond.Today, with a turnover of N971bn and Bank; it has branches across Africa, which provide jobs for thousands across with a keen eye on facilitating trade and commerce across board also boasts of presence in Paris, France and London, United Kingdom. Herbert Wigwe has driven a sustainability mantra where part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations with support to women led MSME’s and issuance of FMOWigwe’sNetherlands.leadership is authentic and in the ever-changing ecosystem of Nigerian banking, he rides the tides of the industry, thus dictating the pace of his time. Not long ago, he led the drive that led Access Bank Plc to morph into a holding company structure (HOLDCO) market(s). He oversees this newfound entity as the head honcho, while his former deputy MD, Roosevelt Ogbonna has assumed the mantle as CEO of Access Bank Plc. On this day, as Herbert marks his 56th birthday it is important to note his role in the private sector Coalition interventions, the coalition helped to medical equipment and PPEs to states presence expanded to cover all 36 states in Nigeria and the FCT. Another window where Herbert Wigwe has engineered groundbreaking towards its projects for orphans and vulnerable children with Fifth Chukker Polo and Country Club via the construction of over 100 classrooms with requisite facilities to boost education in Kaduna State. At the recently concluded Access Bank UK Polo Day, in London, it witnessed the raising of over 1.7 million US dollars to broaden the scope of its initiative to support education and child empowerment across Nigeria. banker contributes in partnership with other private sector partners engineered avenues through which more resources can be pooled towards supporting children in Nigeria. debonair gentleman clocks 56 years today, it’s a pleasure to celebrate his giant strides yesterday, today, tomorrow, and always with more to come in the future. There’s no gainsaying that it’s not far-fetched to pen a compendium to provide a helicopter’s view on the epic milestones of Herbert Wigwe in the past, present and the future. Ajanaku is a Communications Specialist basedLagosin
ALL IN THE FOURTH REPUBLIC It is a republic where anything goes, writes JOSEF OMOROTIONMWAN
Further, Onokpasa’s comparison of Obi and Tinubu, and how the latter was able to advance his political machinery, Tinubu. Critically, Obi is above the pay grade and class of Tinu bu in terms of accountability and transparency in public and been accused of cornering public funds, nor corruptly enrich ing himself.
Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer. PETER Email peter.ishaka@thisdaylive.com
ISHAKA
The challenges of poor electricity supply and its attendant impact on businesses have headlined conversations in almost all economic summits or fora in Nigeria. But it is now time to move such conversations beyond meeting rooms
Editor, Editorial Page
Times are dire for Africa’s biggest democracy, no doubt. In February, 2023, the country faces a daunting hurdle that will ests. It’s a battle between Nigerian ruling elite versus the peo or die democracy. For damning 62 years, Nigerian ruling elite plundered the state with reckless abandon, enriching them selves, families, cronies, oligarchs and foreigners through illicit siphoning of public funds and deliberate carnage. Therefore, in the forthcoming Presidential contest, the elite represented by the All Progressives Congress (APC) Bola Ahmed Tinubu and Peoples Democratic Party (PDP) Atiku Abubakar are all up in arms against Labour Party (LP) Peter who careless about the wellbeing of the people. Thus, every shades, missiles, attacks, misinformation and propaganda are being targeted at no one, but Peter Obi. Though, innocuous, it’s a familiar trajectory in political campaign and electioneering.
Paul Obi, Abuja WHAT IS PETER OBI REALLY UP TO? 30
Letters to the Editor LETTERS
The epileptic nature of power supply does not only make Nigeria one of the harshest environments to do business but also render the country less competitive. That has for years been a singsong of the Manufacturers Association of Nigeria (MAN) whose members now bemoan poor power supply and high cost of diesel as impacting negatively on their operations. The situation is compounded by the drastic reduction in gas supply to businesses and organisations through the Escravos Lagos Pipeline (ELPs) which has led to many job cuts. As things stand, the promise that the reforms in the power sector would lay a solid foundation for sustainable power generation and service lead to increased access to electricity, engender private sector investments, improve infrastructure as well as create employment for the growing population of jobless Nigerians, has become a mirage. Major cities across the country, including the Federal Capital Territory (FCT), last week Sunday experienced a total blackout, following another collapse of the national grid. But that has become the new normal. From Kano to Calabar, Sokoto to Ibadan, indeed across the country, several days go by without activities.Goingby World Bank projection, businesses in the country experience an average of 239 hours of power outages every month with about US$0.20 to 0.30 per accounts for nearly seven per cent of the business losses recorded by these enterprises that are now forced to and the economy. The situation, according to the World Bank, results in economic losses exceeding $25 billion annually to the country. Bank Enterprise Survey indicates that electricity supply is consistently the biggest constraint to doing and manufacturers, the report noted, are most likely to identify electricity access as a key obstacle to their productivity. Yet, having a reliable electricity supply is consistently associated with higher levels of economic productivity. Because the country’s power supply system is mostly unreliable, it does not just economic losses but also creates payment apathy by consumers who do not feel obligated to pay for electricity services they consider to be unreliable.
4 THISDAY MONDAY AUGUST 15, 2022
EDITORIAL
In an article published in THISDAY Newspaper on Friday, 12th August, 2022 by one Jesutega Onokpasa, titled What Is Pe ter Obi Really Up To? the author laboriously attempted to paint wannabe. Onokpasa argued back and forth, while contradict ing himself with utmost loss when he alluded that “Peter Obi president nor how he can succeed.” He went on to assert that “Peter Obi simply does not know how to work with people and has never been able to assert himself as a political leader.” pasa insinuates that Obi is politically ‘impotent’ and that the eventually becomes the President. Onokpasa with so much en ergy attempted to compare and contrast Peter Obi and APC’s presidential candidate, Bola Tinubu. For clarity, Mr Onokpasa’s article sounded as a thumps up for a criminal state and an applause for illiberal democracy, as practice then in Anambra State, a signpost of the challenges of political accountability. John P. McCormick in his work, Ma chiavellian Democracy: Its Rise and Fall (2011) opined that the crisis of political accountability in contemporary democracy is entrenched when an electoral system upends the power of the majority or majoritarian votes for the support of ruling political then Anambra State House of Assembly members as a ploy to downplay Obi’s political sagacity, they inadvertently project best temperament that adhere to constitutionalism and follow the rule of law. Erroneously, Onokpasa painted the said law makers, and Tinubu as undemocratic; who are not bent on fol lowing due process and the spirit of the law.
EDITOR
RE:
POWER SUPPLY AND THE PRIVATE SECTOR
For a very long time now, the challenges of poor electricity supply and its attendant impact on businesses have headlined conversations in almost all economic summits or fora in Nigeria. But it is now time to move such conversations beyond meeting rooms. The shame is not only that Nigeria has the highest number of people without electricity worldwide, leading to about four per cent loss of Gross Domestic Product (GDP), but that we lag far behind other African countries. It is irritating enough that the little megawatts of electricity generated in the country cannot be evacuated or distributed because of decayed infrastructure. It is even worse that nothing tangible is being done to transmission networks for better power delivery. Despite billions of dollars in investment, Nigerians are still daily inundated with silly excuses about why they are in perpetual darkness. Instead of building trusts and working to light up the bewildering darkness in the land, both the electricity distribution companies (DISCOs) and the Transmission Company of Nigeria As we have repeatedly noted on this page, we need incentives to attract necessary investment, and smart regulation to revive the ailing power sector in the country.
The country needs an efficiently managed grid and appropriate incentives to attract investment
T H I S D AY SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com
MONDAY AUGUST 15, 2022 • THISDAY 31
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At 74,
A philanthropist at heart, Odili understands the mechanism of wealth redistribution as a vehicle for grassroots development. Throughout the years, he has supported many families, giving them a fighting chance to come out of penury through different empowerment programs that entail the countless number of persons he helped; the school fees he has paid; the hospital bills and house rents he assists in paying; the land, the many community disputes he helped resolve and the broken homes he salvaged. This show of unusual love and care for others is also reflected in his immediate household. Marriedto one of the most powerful women in the country does attract its own kind of media scrutiny and sometimes, scandal. However, the pair has managed to evade the drama. Considering that the union produced four lovely children, their seemingly quiet lifestyle can only be reckoned as a feat. While his 73rd birthday was marked by the death of his brother, Chief Fidelis Odili, his 74th is expected to be celebrated in high spirits. Despite the setbacks, it is a year when his wife, Justice Mary Odili, did not only retire from the legal practice with a spotless reputation but also joined him on the seventh floor. Indeed, history would reserve a place for the selfless leader as he climbs another step. Looking back, at 74, Odili is certainly a fulfilled man. With his wife who rose to the peak of her career, and four wonderful children who are doing well in the chosen professions, what else could he have asked from God than a peaceful life and gratitude.
At a time in Nigeria where transformational leaders are scarce, Peter Odili, former Governor of Rivers State stands out in his achievements in the political and economic landscape of the country. As he clocks 74, the towering General deserves nothing but a compassionate ode as a champion for human dignity and national peace and reconciliation, writes Vanessa Obioha Peter Odili’s Impactful Life Still Echoes Odili
MILESTONE (DPN), and later as National Secretary. He was the Founder and Leader of Rivers Platform, in 1998; Founder and Leader, of the Restoration Team as well as the State Leader of the Peoples Democratic Party (PDP); elected Executive Governor of Rivers State in 1999 and served two terms. It was in that capacity that he took the country by storm and became a reference point in the nation’s political calculations. He was at various times the National Chairman, PDP Fund Raising Committee (2000); and Chairman, Presidential Committee on Housing and Urban Renewal (2001). Even though he has not been too active politically, his exploits are not only well documented and reference point, but his place in history is reserved. More importantly, his impactful life still echoes. Little wonder a former Governor of Jigawa State, Mallam Sule Lamido, recently advised a governor to emulate Odili for his consistent showed maturity in any situation he finds himself. “Let him learn from his former boss,
THISDAY • MONDAY, AUGUST 15, 2022
“To date, even Odili’s ardent critics concede to the fact that his stint in office yielded stellar accomplishments that have remained a yardstick for measuring performance in that resource-rich state. Before him, not only were substantial parts of Rivers State not connected by roads and electricity, Port Harcourt, the state capital, was not connected to the national grid. All these changed under him.”
What do the revolutionary Napoleon Bonaparte, super talented American actress Jennifer Lawrence, and visionary former governor of Rivers State Peter Odili, have in common? Well, for starters, a lot in terms of their drive to attain and replicate success in their respective career paths. But more specifically, each of these epitomai of great leadership shares the same birthday — August 15. Born in 1948 in Ogba/Egbema/Ndoni Local Government Area of Rivers State, Odili was welcomed to the loving home of Chief Philip Celestine and Princess Janet Okwei Odili, who, within the limits of their resources availed the youngster the very best life they could offer in a Nigeria under the rule of the colonial masters. As every parent would hope for their wards, they expected Odili to become a well-to-do member of the society, unknown to them, the charismatic leader’s dreams exceeded their imagination. At the early age of five, Odili enrolled in St. Michael’s School, Oguta II, and Sacred Heart School, Onitsha. Time spent between both institutions spanned between 1953 and 1960. He furthered to Christ the King College in Onitsha, an institution that has churned out some of Nigeria’s greatest minds. But Odili was not done yet with his academic exploits. He proceeded to study Medicine at the University of Nigeria, a ground where he first came in contact with his loving wife of many years, the retired Justice Mary Odili, a newly turned septuagenarian. Fresh off the University of Nigeria, he started the compulsory internship under the National Youth Service Corps (NYSC), before moving on to become a Resident Staff Physician at Medical Consultation Centre, Port Harcourt, between 1979 and 1980. Throughout his practice there, he left marks that were guided by his humanity and zeal to serve. This led to an even bigger calling. By 1980, he had set up his private medical practice, PAMO Clinics, where he served as the Resident Clinician-in-Charge for two Possessingyears. an insatiable appetite for knowledge expansion to improve his practice and place him ahead of his peers, he then proceeded to enrol in a specialist programme at the University of Liverpool, the United Kingdom. Although a part of his goals was to be adept at his profession and edge out some of his peers, the bigger picture that compelled him was to serve his community. Therefore, after his programme in the UK, he headed back home to serve his community in Port Harcourt. His expertise in the medical field saw him emerge as the personal nominee of the former President of the United States of America, Bill Clinton, to a 10-member roundtable committee charged with the responsibility of formulating the methodology for addressing the HIV/ AIDS crisis in the workplace in Africa. If Odili had a bad trait, it would be one of never being satisfied with the level of impact he makes at each stage in his life. In 1988, he was elected member and leader of Rivers State Delegates to the Constituent Assembly and was elected to the National Constitutional Conference, where he served as the Chairman of the Conference Committee on State Creation. In 1992, he was elected as the Deputy Governor of Rivers State. At the peak of the struggle for the laying of the foundation for the Fourth Republic, Odili first served as National Vice Chairman (South-south) Democratic Party of Nigeria Peter Odili. He will tell him a story that is so touching because I have never seen a person who was cheated on and who was so denied as Peter Odili. The man is so humble, so tolerant. I mean he is everything good,” the former governor admonished.Todate,even Odili’s ardent critics concede to the fact that his stint in office yielded stellar accomplishments that have remained a yardstick for measuring performance in that resource-rich state. Before him, not only were substantial parts of Rivers State not connected by roads and electricity, Port Harcourt, the state capital, was not connected to the national grid. All these changed under him.The National Independent Power Project (NIPP) which later became a federal fad had Odili, in his capacity as governor of Rivers State, as one of its pioneers. Before him, also, Government House, the seat of the Governor, was no better than a guest house and that’s being charitable. He built a grand and befitting edifice that remains a major architectural landmark. One positive part of the Odili phenomenon is his kindness and large-warmheartedness as well as mentoring successors. In 2020, when the world was ravaged by the COVID-19 pandemic, Odili donated Reverse Transcriptase-Polymerase Chain Reaction, Reagents, and Busters for RT-PCR COVID-19 Test, to the state government for use at the Rivers State University Teaching Hospital, Port Harcourt. In addition, he donated PCR Test Machine and 3,000 test kits and reagents by Pamo Clinics and Hospitals to enhance the fight against the virus. This singular act was commended by many who borrowed a leaf from his script to impact their communities. Turning 74 bears symbolic meaning in the life of the politician who built a revered career through extraordinary professional medical practice, attaining the respect of his political peers, and channelling his interest into championing and executing humanitarian works with far-reaching effects. Indeed, it is a moment for him to look back at his works in the past to better steer his direction in the future. In numerology, 74 is an angel number which signifies that tough times are coming to an end, and great things are coming to fruition. In the case of Odili, this is no guesswork. During his time in office as governor, he deployed an unusual strategy of working with adversaries. Without a doubt, this imprint he made has continued to influence how the state is being run. In other words, he has become an elder statesman whose words are valued. His impact is fast turning into a living legacy. To be sure, these qualities exhibited by the astute leader are not just a facade for public acceptance. His ‘charity begins at home’, as he is well known for his close knitted relationship with members of his immediate and extended family.
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A 23-Floor Cocktail of Classy Apartments
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CHAMPAGNE PEARL TOWER HOMES & DESIGN
The Champagne Pearl tower is one of the five Eko Pearl residential towers in Eko Atlantic City in Lagos State. It has a great mix of splendid apartments. Bennett Oghifo writes
THISDAY MONDAY, AUGUST 15, 2022
The Champagne Pearl Tower rises to 134 metres and is presently the tallest residential building in Nigeria and the second tallest in Nigeria and West Africa. The exquisite tower, completed in 2017, consists of 30 residential floors with four apartments per floor, a technical floor, a ground floor and a basement floor, in addition to a private health club, meeting room and lounge. Champagne Pearl is located close to Red Door Gallery and a short distance from Mega Plaza Century 21 Mall. It is one of the five residential skyscrapers that make up the Eko Pearl Towers. They range from 24 to 33 floors. The towers are Eko Black Pearl, Eko White Pearl, Champagne Pearl, Indigo Pearl and Aqua Pearl. The residential tower project was designed by the Architecture firm TAA (Tabet Atelier d Architecture), and the Electrical/Mechanical consultants are DHDMEP Design. The construction management was performed by TAA construction and the Site Engineering consultants, APAVE Nigeria. The residential towers were developed by ESLA International Limited, a subsidiary of Chagoury Group, while the contractors are Eko Pearl Construction Company and South Energyx Nigeria Ltd. The Champagne Apartments are from the first to the 23rd floor and consist of Type A of 178 sqm. This design has an entrance, reception, dining, kitchen, three master bedrooms, a guest toilet, balconies and a maid’s room with its bathroom.TypeB is 144sqm. It has an entrance, reception, dining, kitchen, two master bedrooms, a guest toilet, balconies and a maid’s room with its bathroom. Type C is 178sqm and has an entrance, a reception, a dining, kitchen, three master bedrooms, a guest toilet, balconies, and a maid’s room with its bathroom. Type D is 144sqm with an entrance, a reception, dining, kitchen, two master bedrooms, guest toilet, balconies, and a maid’s room with its bathroom. The Royal apartments are from the 24th to the 30th floor. Type E is248sqm (with a big terrace) and has an entrance, reception, dining, kitchen, three master bedrooms, a guest toilet, balconies, and a maid’s room with its bathroom. Type F is 248sqm and has an entrance, reception, dining, kitchen, three master bedrooms, a guest toilet, balconies, and a maid’s room.
ENABLING BUSINESSES Living true to its words, NUPRC has been enabling businesses in the oil and gas sector since its inauguration and this has been confirmed by many industry players. The CEO had promised that the commission would not just be a regulator but would be an enabler of investment, adding that the Commission would be a world class regulator where professionalism would reign. However, worried by the plans by the international oil companies (IOCs) to exit their onshore and shallow water operations, the Commission has been engaging the IOCs to understand their challenges in order to find solutions to them and have the oil majors continue to play in the sector for more value addition. “We will engage critically with them and if it becomes their decision to move from their onshore activities, what will be paramount to us is to look at their challenges and see how far we can intervene positively. Don’t forget, the Act makes the commission both technical and financial regulator. “We will do more because investment decisions are commercial decisions and we will see how we can intervene,” he stated. He also assured that the commission would work towards eliminating all forms of bureaucracies that impede business operations and discourage further investments in the Nigerian oil and gas exploration and production business.
37 BUSINESS SPECIAL Editor: Obinna obinna.chima@thisdaylive.comChima08024557078 MONDAY, AUGUST 15, 2022 THISDAY
Peter Uzoho examines steps taken by the Nigerian Upstream Petroleum Regulatory Commission since its inauguration in October last year, which have in many ways added and still adding significant value to the nation’s oil and gas industry and the economy
BOOSTING OIL PRODUCTION At the inauguration of NUPRC at the time in Abuja, just like in other industry gathering where he was opportune to speak afterwards, one thing continued to reverberate in the thought and speech of the CEO: growing Nigeria’s oil production and meeting the nation’s production quota from the Organization of Petroleum Exporting Countries (OPEC). The reason is not far-fetched. He is a seasoned industry professional, who has served in various capacity in the nation’s petroleum business, and thus understands the industry’s challenge and how it is affecting the country’s economy. He knows the mood of the government in relation to the nation’s under-performance in oil production and saw his appointment as a call to rescue the industry and the nation from the difficult situation, through problem-solving regulatory policies. Speaking at the inauguration, Komolafe had stated, with precision, “Basically, we shall focus on activities that enhance the production activities in the upstream in a manner that we will be able to hit our OPEC quota and will endeavour to ensure that we deliver to Nigerians a 21st century regulatory commission... “But the key is that we focus on activities that will expand and enhance production activities in a manner that we can be meeting our OPEC quota and as much as possible to optimise the federation revenue.”
Komolafe government and investors had become a deep cause for concern for all stakeholders. He added that the development was causing a threat to national and energy security, erosion of global competitiveness and ease of doing business, and had also given rise to unemployment across the industry, increased conflicts due to proliferation of arms as well as a widespread Health, Safety and Environment (HSE) and community concerns. “In light of these issues and government’s production target of 3 million barrels of oil per day in three years, the NUPRC has developed regulatory initiatives and optimisation strategies aimed at decreasing this menace to the barest minimum in the short run, and eventual elimination in the long run. “The strategies involve various industry stakeholders and cuts across techno-socioeconomic and security initiatives. It is my utmost belief that the impact of these joint strategies would be felt across the industry in a few months,” heKomolafeassured. stated that the initiative to conduct an industry-wide integrated study on the reactivation of shut-in strings was conceptualised in the commission and approved by him as a low hanging strategy to gain incremental production. “Our analysis shows that we have over 3,000 shut-in strings in-country with huge potential to boost production in the short term (i.e six months), mid-term (i.e one year) and long term (i.e over a year),” he declared. The CEO maintained that the committee would be saddled with the responsibilities to collect and quality-check data of all shut-in strings, evaluate the basis for shut-in based on subsurface (geology and reservoir engineering) and surface considerations. He gave the terms of reference of the committee as, the development of an empirically-driven criteria to identify candidate wells for production ramp up in the short, mid and long term; to prioritise candidate reservoirs/fields with the potential to increase recovery factor in the short, mid and long term and develop a robust report with action and implementation steps. “The committee would engage industry stakeholders to get their buy-in on this strategic
ESSENCE OF EXPECTATIONSCOMMITTEE/ Stressing the need for such committee, Komolafe noted that the move had become inevitable due to shut-ins arising from oil theft and sabotage in the Niger Delta. He stated that the nation had suffered significant losses in crude oil production, especially in land and swamp terrains, saying a major consequence of which was the declaration of force majeure on the Bonny Oil & Gas Terminal (BOGT) and shut-in of wells from fields evacuating through the Nembe Creek Trunk Line (NCTL) and the Trans Niger Pipeline (TNP). He said the menace has resulted to Nigeria achieving only 60 per cent compliance with Technical Allowable Rate (TAR) and 72 per cent of its assigned OPEC quota. According to him, the socio-economic impact of production and associated revenue losses to both initiative. The committee has a one-month period effective today to conclude the study and revert to management with a robust report that will become a working document for the industry in this regard,” he noted.
Waltersmith operates the Ibigwe oil field and runs a 5000bpd modular refinery in Ohaji/Egbema Local Goverment Area of Imo State. Nwosu had testified, “The NUPRC CEO has done quite a lot to support our expansion. So, we are expanding this modular refinery principally because of what Komolafe has done for us in the last couple of “NUPRCmonths. is also a partner, they have been a partner in our modular refinery. They don’t come to our refinery to penalise us, they come to support us, to make sure that we stay at those international standards that they have set for us, and we on our own are trying to also continue to improve. “They don’t come to monitor what we are doing from the point of view of penalising us, but by pointing out any part of our process system that has challenges. “So, I do not have any issues whatsoever with support from government, they are business enablers. The support we get from government especially the NUPRC is really huge.”
TACKLING TRANSITIONENERGYCHALLENGE
Tracking NUPRC’s Initiatives in Oil Sector
The last ten months has truly been a beehive of activities and serious regulatory business at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), with one positive initiative or action following another in short timeframe. All these initiatives and actions are solely aimed at adding significant value to the Nigerian oil and gas industry with huge implications on the wider economy.NUPRC is one of the excellent creations from the enactment of the Petroleum Industry Act (PIA) 2021, which was signed into law on August 16, 2021 by President Muhammadu Buhari. With the management board of the NUPRC appointed and confirmed by the president and the Senate, respectively, NUPRC was subsequently inaugurated on October 18, 2021, with Gbenga Komolafe serving as the Chief Executive Officer while Isa Modibbo serves as the Chairman.
Against the challenge posed by energy transition, NUPRC is focusing its regulatory focus on enabling sustained upstream investments. It is equally driving a paradigm shift in the exploration and production value chain of the Nigerian petroleum industry, which it identified as imperative for the survival of the sector. Admitting that more than ever before, the industry is being plagued by investor skepticism, high level competition, climate change and clamour for clean environment, Komolafe stated that for oil and gas to entice the needed investment, there must be an attractive fiscal framework, which the PIA seeks to address.
Aside the IOCs, the commission has been actively interfacing with the independent operators under the aegis of Independent Petroleum Producers Group (IPPG) in order to increase their participation and contribution to Nigeria’s oil and gas exploration and production segment. Through the completion of the last marginal field bid exercise, where 57 fields were put on offer, which cumulated in the issuance of Petroleum Prospecting Licence (PPLs) to many Nigerian companies, the commission has set the stage for more investments to flow in the sector. It’s support to local operators has ensure that they increase their capacity and competitiveness as well as making them to adopt global best practices in their operations. In his testimony to the support from the NUPRC, Chief Executive Officer of Waltersmith Petroman Oil, Mr. Chikezie Nwosu, once stated at a function that “the amount of support we have received from government is immense.”
ACHIEVING NIGERIA’s 2060 NET ZERO OBJECTIVE In acknowledgement of the current energy transition and the need for the world to reduce global carbon emissions to 1.5C by 2050, NUPRC is also working with other stakeholders to drive Nigeria’s compliance with the climate change objectives as well as achieving the 2060 set by the federal government for Nigeria. For instance, in November last year, the Commission’s CEO had at a session in Lagos, listed the measures the were aggressively implementing to ensure carbon-free operations in the upstream oil sector. Citing the Nigerian Gas Flare Commercialisation Programme (NGFCP) as part of such Initiatives, he said the commission would also ensure that all approved Field Development Plans (FDPs) incorporate full gas utilisation and monetisation programmes. Others are the introduction of regulations that would ensure new exploitation and production projects include decarbonisation elements to further attract foreign investments. He said further that the commission would collaborate with the NNPC Limited and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDRA) to encourage investment in refining and gas-based industries. According to him, the commission would also collaborate with counterpart regulatory agencies within the Sub-Saharan region in order to create strong alliances that ensure sustainability and demand for our crude oil and refined products.
Beginning from no particular order, about a month ago, the Commission inaugurated a 10-man expert team to work on a report that would lead to the reactivation of over 3,000 shut-in oil strings which have contributed to the country’s inability to meet OPEC’s quota. Nigeria’s oil production has experienced a downward spiral, plummeting from a high of over two million barrels per day last three years to now a million barrels. This has impacted negatively not only on the federation’s income, but on the government’s aspiration to hit three million bpd. The government planned to hit three million bpd oil production and 40 billion barrels oil reserves in few years, banking on new investments, completion of ongoing field development projects, and the 2020 marginal field awardees among others. The government also hoped to achieve this production growth by ensuring that oil wells that were shut in resulting from one reason or the other were brought back to production. So, in its strategic thinking, NUPRC thought about setting up this 10-man expert team to work on a report that would lead to the reactivation of over 3,000 shut-in oil strings which have contributed to the country’s inability to meet the 3 million bpd and OPEC’s quota. Members of the committee inaugurated in Abuja included: Amadasu Enorense, a Deputy Director as the Team Lead; Georgeson Victor, Boma Atiyegoba, Dadi M.B, a Deputy Chief Geologist and Mumuni O.T. Other members of the expert team were: Omion O.O, Namtari S.B, Uzoigwe F.F, and Mamman J.M while SShokoya Y.M is to act as Secretary of the committee.
In a swift move that apparently excited many industry stakeholders, the Komolafe-led NUPRC last week, stood firm to its statutory powers on the issue of granting Seplat Energy the approval to buy the ExxonMobil’s oil assets in MaintainingNigeria.itsearlier position of disapproval of the transaction due to “overriding national interest”, Komolafe, armed with relevant sections of the PIA, faulted the position of the presidency, which had earlier in the week directed that ministerial approval be granted to Seplat to proceed with the deal. This intervention, which was later backed by the president, no doubt saved the presidency, the nation and the industry a looming embarrassment and an ugly precedent that may put the industry in jeopardy.
STANDING FIRM ON ITS REGULATORY POWERS
INCREASING OPPORTUNITIES FOR LOCAL FIRMS
Herbert Wigwe: Still
@ 56
Wigwe realities of the market. Access Corporation now oversees a group of portfolio companies that drive more value for customers and stakeholders. In Access Bank Group, although banking remains its core mandate, it has now been equipped to provide best-in-class, seamless and consistent customer experience, and service delivery in its operations in Nigeria, and across its 14 subsidiaries in Africa, Europe and Asia. The new Corporation comprise verticals cutting across banking, payments, consumer lending, insurance brokerage and asset management. Access Bank Group continues to operate in Nigeria and through its subsidiaries and business offices in Africa, Europe, and Asia. These businesses, when combined would position Access Corporation to provide banking services, including intra-and inter-Africa trade, consumer lending, payments services, and insurance services to their customers, thereby improving wealth diversification and preservation. This unique trajectory and expansion could only be guided by an adroit, firm pair of hands in the cockpit. This is Herbert Wigwe - and he is notSpeakingdone. on the Corporation’s debut, an upbeat Wigwe shared some related insight: “Many of you would have heard us talk about Access Corporation earlier this year. This natural evolution of our company will ensure that we continue to use digital tools and our partnership with Fintechs to support our customers’ lifestyles outside of the banking system. “We have set our sights on and delivered ambitious plans to transform the African financial services sector over the last 20 years. Until now, we have concentrated on banking, with the goal of becoming the World’s Most Respected African Bank. Our Louis Achi
Perhaps not unlike the swashbuckling adventurers who conquered unexplored territories in the tough American West, he revels in pushing frontiers. This ingrained trait remains the defining characterisation of Mr. Herbert Wigwe, Group CEO of Access Corporation. Today, the inimitable financial services industry guru turns 56 - and still blazing the trail. But significantly, today, the world and Africa stand on the brink of substantial disruptions - and of considerable opportunity - as new business models challenge traditional templates. This is especially more so as the Covid-19 pandemic massively unsettled conventional business playbooks and upended the global economy. As it were, only tested trailblazers with vision, knowledge and courage can provide the imperative cutting-edge leadership to ensure both stability and progression. And this is Wigwe’s forte. As it were, a powerful vision draws in ideas, people and other resources. It creates the momentum and will to make change happen. It inspires individuals, complementary organisations and institutions to commit, to persist and to give their best. Keying into this enduring philosophy, unassuming Wigwe has also deployed impeccable professionalism, discipline and persistence to change the traditional narrative of the banking sector in Nigeria and the continent. No less a child of providence who wields influence and authority with alluring humility and exemplary focus, the Access Corporation CEO has demonstrated with his life’s trajectory that faith, accountancy, banking and international finance fundamentally address transformation of society and the human condition for good. To-date, he unabashedly maintains this unique footing. An unwavering sense of duty, rigorous training and professionalism, demonstrable integrity and almost a child-like faith in his beloved God form the navigational compass of his life story. Wigwe rejects staying tamely at the end of received policy prescriptions. He covets knowledge-driven innovations, proactive engagement with stake-holders, policy makers and sure-footed action. These dimensions have been boldly mirrored in his leadership of one of the continent’s now transformed financial services behemoths. Access Holdings Plc, trading as Access Corporation, in March, had announced its start of operations, with initial portfolio companies and its future strategy. The Corporation which sustains Access Bank’s scale and ethical standards would have portfolio companies with significant complementarities.Thisallowsthenow enlarged ecosystem player to walk with customers across their life cycle while delivering value to stakeholders and offering a new globally connected set of services. This ecosystem offers specialised services at the same time as a seamless integrated experience to improve both relevance and convenience. With less focus on traditional banking, more Nigerian lenders have in last few years been pressing to break the glass ceiling where competition is intercontinental. But Access Corporation’s sheer pace-setting boldness takes the cake. The completion of its transition into a Holding Company structure led to the delisting of its entire 35.5 billion outstanding shares from the daily official list of the Nigerian Exchange. But it was obvious to most market gurus that the behemoth must have discerned great opportunity somewhere and this needed to be urgently exploited in a rapidly evolving global financial market. The organisation, now trading under a new parent company known as Access Holdings Plc (Access Corporation) has since been relisted to reflect current banking subsidiary is now Nigeria’s largest bank by assets and Africa’s largest in terms of customer base. It is now time for us to take the next transformative step, where we provide our customers with beyond banking services delivering new interconnected financial services across customers’ needs.”Tracking back, Wigwe was appointed Access Bank chief executive officer in January 2014 and with his team choreographed the exponential growth of the bank. Under Wigwe’s circumspect guidance, the then Access Bank Plc became a leading full-service commercial bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers. The bank employs over 28,000 personnel in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, UAE) and representative offices in China, Lebanon and India. Listed on the Nigerian Stock Exchange since 1998, the bank was a diversified financial institution which combined a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities.Thebank then served its various markets through four business segments: Retail, Business, Commercial and Corporate. In its old structure, it had over 900,000 shareholders (including several Nigerian and International Institutional Investors) and enjoyed what is arguably Africa’s most successful banking growth trajectory in the last twelveFollowingyears.its merger with Diamond Bank in March 2019, Access Bank became one of Africa’s largest retail banks by retail customer base. As part of its continued growth strategy under Wigwe, giant financial services provider focused on mainstreaming sustainable business practices into its operations.Thebank strove to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant, helping customers to access more and achieve their dreams. All these significant milestones came before it morphed into its current corporate structure.Notsurprisingly, in honour of its path-finding roles across the African continent, Access Corporation (in embryo as Access Bank) has been accorded recognition by reputable domestic and global organisations. Some of these recognitions include: 2019 World Finance Award “Best Digital Bank in Nigeria”; 2019 World Finance Award “Best Mobile App in Nigeria”; 2019 Karlsruhe Sustainable Finance Awards; “Outstanding Business Sustainability Achievement” and 2018 Euromoney Private Banking Awards “Best Commercial Banking Capabilities”. Still others include 2018 Euromoney ‘Africa’s Best Bank for CSR’ Award; 2018 CBN ‘Sustainable Bank of the Year’; ‘Sustainable Transaction of the Year (Oil & Gas)’, ‘Sustainable Transaction of the Year (Power)’; 2018 Global Banking and Finance Review, “Best Investor Relations Bank in Nigeria”; 2018 SERAS ‘Most Sustainable Company in Africa”, 2019 CEO Awards Forum “Gender Leader of the Year” just to mention a few. In June 2021, Wigwe emerged African Banker of Year for the second time, consecutively. A winner of one of the most prized categories at the Awards ceremony for the second consecutive year, he was recognised for his stellar leadership in the market expansion of Sub-Saharan Africa’s largest bank despite the negative impact of the COVID-19 pandemic. Commenting on the award, Group Publisher of African Banker and Chair of the Awards Committee, Omar Ben Yedder had said, “Herbert is one of the most respected bankers on the continent, without a shadow of a doubt. The Bank has gone from a lower ranked Nigerian bank when he joined the group as Deputy CEO to become one of Africa’s leading financial services groups. “He has shown a relentless pursuit for growth, but has done so in a measured and calculated manner. What he and his team have done at Access Bank is nothing short of Wigweremarkable.”startedhisprofessional career with Coopers & Lybrand Associates, an international firm of Chartered Accountants. He spent over 10 years at Guaranty Trust Bank Plc where he managed several portfolios, including financial institutions, large corporates andHemultinationals.leftGuaranty Trust Bank as an Executive Director to co-lead the transformation of Access Bank Plc in March 2002 as Deputy Managing Director. He was appointed Group Managing Director/ CEO effective January 1, 2014. He is an alumnus of the Harvard Business School Executive Management Programme. He holds a master’s degree in Banking and International Finance from the University College of North Wales, a master’s degree in Financial Economics from the University of London and a B.Sc. degree in Accounting from the University of Nigeria, Nsukka. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). His emergence as the CEO of Access Corporation tacitly acknowledges the capacity of focused individuals to transform their sector, effectively manage new disruptions and hence positively impact society for the better. For many years, he has provided clear, pragmatic leadership in his industrial sector. Wigwe was born on August 15, 1966, to parents of Ikwerre descent, from Omueke Isiokpo, in Rivers State. He is happily married in a union blessed with children. Trailblasing
38 BUSINESS SPECIAL TRIBUTE THISDAY MONDAY, AUGUST 15, 2022
Key targets of the FMBN Strategy Blueprint that were the object of review at the retreat included to accelerate the growth of NHF contributions from annual collections of N48.8 billion in 2019 to N284.7 billion by 2024; increase NHF contributors from five million as of 2019 to 31.6 million by 2024 and transform the mixture of formal/ informal sector contributions from 80:20 to 50:50 by 2024, and finance 100,000 housing units over the five years, with at least 10% of these from commercial transactions. New Corporate Statements for a BusinessDriven FMBN The retreat also witnessed the launch of FMBN’s Corporate Statements in line with the new Board and Executive Management’s efforts to reposition the Bank as an institution that is able and willing to live up to its name as the foremost development finance organisation in Nigeria. The statements include FMBN’s vision, “To be the preferred mortgage institution providing reliable and affordable access to homeownership for Nigerians,” and its Mission “To drive the delivery of accessible and affordable homeownership by providing sustainable liquidity, innovative products and services, and excellent customer service.” Also included are the Bank’s Core Values of Integrity, Professionalism, Accountability, Customer Centricity, and John Terhemen Ikyaave The FMBN board and management retreat in Abuja three months after President Muhammadu Buhari appointed a new team of professionals to lead Nigeria’s apex mortgage institution was timely and strategic. It was a logical next step after the new management’s exhaustive internal study, clear understanding of systemic issues, and the need to engage a broader spectrum of stakeholders to help sharpen the reform measures necessary to take FMBN to the next level. The retreat titled, “Strategy Repositioning for Optimised Performance,” took place at Transcorp Hilton, Abuja, from 1st to 2nd August, 2022, and had a wide array of participants in attendance. This included the Minister of Works and Housing, His Excellency Babatunde Raji Fashola, who supervises the FMBN, the FMBN Board, the Executive Management Team, and senior FMBN Management staff. The event also had in attendance Chairman/ CEO, Nigerians in Diaspora Commission (NIDCOM), Hon. (Dr) Abike Dabiri-Erewa, Director (OFID, CBN), President/Chairman of Council of the Mortgage Banking Association of Nigeria (MBAN), Mr. Richard Olubameru, President, Real Estate Developers Association of Nigeria (REDAN), Aliyu Wammako and Mr. Olukayode Pitan, the MD/CE, Bank of Industry amongst others.
“Since the approval of FMBN’s 5-Year Strategy Blueprint by the immediate past Board of the Bank in 2020, the operating environment has witnessed several significant challenges. These include the outbreak of the COVID-19 global pandemic, the Russia-Saudi Arabia oil price war, and, more recently, the Russia-Ukraine conflict, all with their adverse macroeconomic and social-economic fallouts in international and national spheres. “Closer home, over the past couple of years, the country has witnessed high inflationary trends driven by energy and food prices, local currency value devaluation, incidences of insecurity, and an uptick in political activities leading up to the general elections in 2023. These have all had a significant impact on the operational and financial performances of the Bank and its ability to execute the strategic direction as planned. “Equally important is the fact that earlier this year, Mr. President graciously appointed a new Board of Directors for the Federal Mortgage Bank of Nigeria under the very able and competent leadership of Mr. Ayodeji Gbeleyi, the Board Chairman, with a strict mandate to take the institution to ‘the next level” noted Madu in hisTheremarks.FMBN MD/CE explained that “two important factors drive the need to re-calibrate Teamwork (IPACT). Fashola, unveiled the statements, a move the FMBN MD/CE described as symbolising “the formal beginning of the new future of the Federal Mortgage Bank of Nigeria (FMBN).”“In2020, FMBN enthusiastically adopted Corporate Statements as part of the 5-Year Strategy Blueprint giving life to this aspiration as part of its strategy formulation. From now on, it is the intention of the Bank that these declarations and values will serve as our guiding light as we forge ahead in charting a better and brighter future for the Bank,” Madu added.
39 BUSINESS SPECIAL ANALYSIS Madu and re-focus the strategic direction for the Bank. The first is the need to re-align its strategic targets in light of prevailing economic, financial, and social realities shaped by the shocks of global pandemics and conflicts. The second is to re-configure the strategy document to incorporate the vision and focus of the Bank’s new leadership in implementing Mr. President’s mandate for affordable housing delivery to Nigerians, especially those in the low-and medium-income brackets.” Madu added, “our collective vision for an FMBN of the future is a financially viable and highly adaptive Bank. One that is capable of adequately coping with the vagaries of a world transiting from a volatile, uncertain, complex, and ambiguous (VUCA) environment to a brittle, anxious, non-linear, and incomprehensible (BANI) environment as a result of the COVID-19 pandemic and other emerged and unfolding factors. To this end, the Bank’s strategy document must become the tool for managing a constantly shifting environment and identifying and utilising opportunities that such challenges may present, nonetheless.”
Commitment to FMBN as a Dynamic Mortgage Banking Institution In robust remarks at the event, the FMBN Board Chairman, Ayodeji Ariyo Gbeleyi said the retreat underscored, “the irrevocable commitment of the Board to provide the required leadership and strategic direction for a rapid and sustainable positive turn-around in all facets of the Bank’s operations.” He affirmed that the present Board and Management are poised to improve on the previous efforts to reposition the Bank for greater efficiency and operational excellence. “In the past few months since the assumption of our respective roles, the Board and Management have observed the Bank’s financial position with keen interest. We have also noted the layers of processes and work streams in the Bank, the level of Non-Performing Loans (NPLs), the credit administration structure within the Bank, the monitoring of projects, team collaboration, and focus on the big picture. “Particularly, the regulatory recommendations of the Central Bank of Nigeria following its last examination of the Bank between January 2020 and June 2021 in the areas of Inadequate Capitalization, Non-Performing Loans, Computerisation, Business Process Review, Cultural Transformation, etc., to mention but a “Therefore,few. it is the unwavering intention of the current Board and Executive Management to reposition the Bank as an agile institution to enable it to function effectively as the country’s apex wholesale secondary mortgage provider within the confines of the law. This is its core mandate, and we shall be faithful in steering the Bank towards that desired destination,” Gbeleyi added.Furthermore, Fashola in his address charged the board and management team to live up to the urgent necessity to reposition the Bank and ensure improved performance. “If there are words which capture the necessity and the reality that beckons for the Federal Mortgage Bank of Nigeria, those words are best represented by Repositioning and Performance. They underly the rationale for setting up the Bank many years ago: to provide service to Nigerians.“Sincethe inception of the Muhammadu Buhari administration in 2015, the Bank has a positive story of service delivery to tell in the number of mortgages issued, housing schemes funded and completed, and changes in eligibility conditions to improve access to funding, to mention a few. But this positive story is only a small part of what is possible if the Bank imagines and reinvents itself,” he added. The minister added that as the promoter of the Bank, the federal government had infused the board and management with a sense of how it should be repositioned by constituting a more representative board. One that reflects national diversity of gender, religion, and ethnicity while increasing the number of banking professionals in the management and board. “The intention is to ensure optimum service to the real owners of the Bank – The Nigerian public and the National Housing Fund (NHF) contributors. This is the repositioning the government envisions and welcomes, one that emphasizes the banking identity of the institution. After all, it is called a bank. It collects people’s money and gives out loans; therefore, it must be a bank and is expected to act like one,” Fashola added. The minister charged the Board to be more innovative in developing products that speak to Nigerians’ unique needs, including rental housing products. “I know that the Bank is issuing mortgages and Home Refurbishment Loans and has started a Rent-to-Own initiative. But is that all that the Bank can do? What can the Bank do for contributors who need to pay 2 to 3 years rent in advance for monthly salary received in Arrears?” he added. Overall, the Minister of Works expressed commitment to a better and more impactful FMBN; the clarity of vision enunciated by the Board and Executive Management, as well as the insightful presentations and exchange of ideas at the 2022 FMBN Retreat, provides much ground for optimism. A reformed FMBN, modern and dynamic FMBN, will sharpen the government’s efforts to cater to the Nigerians’ housing needs and sustainably tackle the housing deficit.
Repositioning FMNN for Optimised Performance
MONDAY, AUGUST 15, 2022 THISDAY
At the heart of deliberations at the FMBN Board and Management Retreat was the need to exhaustively review and update the FMBN Strategy Plan (2020 – 2024) to reflect current realities.Alsoto change is the implementation timeframe of the Strategy Plan. FMBN had worked with Messrs. KPMG Ltd to articulate the Strategy Plan, and the Board of Directors approved it in May 2020 for implementation. The FMBN Strategy Plan set transformational goals, institutional aspirations and laid out a systematic approach to achieving them. It aims to deepen mortgage penetration, facilitate access to homeownership, and enhance customer experience through robust customer engagement practices. It also sought to ensure operational excellence, transform organisational culture, and diversify the FMBN funding mix beyond workers’ contributions of 2.5 per cent monthly salaries to the National Housing Fund (NHF) Scheme. It is now over three years into the plan’s implementation, and the macro-environment and many other factors have changed. June 2022 marked 40 per cent of the original timeline of the Strategy Plan’s years 2020 – 2024. FMBN management reported at the retreat that the bank had successfully executed 38 per cent of its strategic initiatives while 26 per cent are ongoing.According to the Managing Director/Chief Executive of FMBN, Madu Hamman, the 2022 board and management retreat aimed to, “re-calibrate and enhance the Bank’s Strategy Blueprint and create a pathway to chart its immediate, short- and medium-term future.”
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CITYSTRINGS 42 THISDAY DAY AUGUST 15, 2022 Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430
Bandits have become a source of terror Photo: Google
Have there been any attempts to glamorise the acts of banditry and terrorism as the Nigerian government accuses the media organisations? Certainly not, in my opinion Calixthus Okoruwa “Iremember how he raised his head to look at me while he was in that painful condi tion…then he put his head back…it pains me, how much my boy suffered. I have struggled with nightmares for a long time.” The little boy being mourned by the father above, was not killed by the bandits, hunger or disease. He was felled by a stray bullet from soldiers needlessly firing their guns. This lament of a father, was captured in the BBC documentary on banditry in Ni geria (“The Bandit Warlords of Zamfara”) which so riled the Nigerian Government that it has now slammed a fine of N5m on broadcast houses that have aired the documentary. The BBC documentary was released on July 25. Ostensibly, in order not to be accused of witch-hunting the BBC, the government also slammed the same fine on Media Trust, owners of Trust TV which had aired a similar documen tary of the banditry problem (“Nigeria’s Banditry, the Inside Story”) last February. Both documentaries, by the way, are freely available on YouTube and appear to be gaining ever more popularity since the “sanctions” were announced recently. The little boy’s unfortunate death is a reflection of the human tragedy that banditry continues to spawn in Nigeria. It is also an end-result of the government chicanery that has come to underscore this crisis. Bandits had gone to Govern ment Secondary School in Jangebe in Zamfara State and abducted 280 girls. The government, despite its repeated denials, secretly engaged the bandits and paid a ransom of N60m for their release. Upon their release, instead of allowing the poor traumatized girls time to reunite happily with their families, Zamfara government officials quickly herded them into a hall for ceremonial speeches. No prize for guessing what the subject of these speeches must have been – self-adulation and unwarranted counsel. As the speeches wore on to no end and with nightfall ominously approaching, an gry parents desperate to travel back home with their daughters, stormed the hall. In the ensuing melee, stones are said to have been thrown at some of the government officials’ vehicles. This was the trigger the security men needed to open fire. At the end of the day, while the father got his abducted daughter back he lost his son.This is just one manifestation of a crisis that has raged for over a decade, worsen ing by the year and which these media organizations have toiled for months to bring to the attention of the world. The nomadic Fulani claim to have taken to banditry in protest against injustices against them. Giving vent to what is a global concern around climate change and its aftermath, they lament that land for grazing has shrunk alarmingly while so-called “cattle routes” have disappeared. To make matters worse, there are no veterinary hospitals for their cattle. They also quarrel about what appears to be a stereotyping of all Fulani as bandits with resultant discrimination by the rest of society and outright attempts to eliminate the Fulani via a combination of attacks by vigilantes dominated by the Hausa and frequent air raids by the Nigerian military. The Hausas on the other hand resorted to forming vigilante groups in response to acts of banditry perpetrated by the Fulani. Unfortunately, in carrying out their titfor-tat activities, it would appear that the vigilantes hardly bothered to discriminate between the bandit Fulani and the regular law-abiding Fulani with whom they had been neighbours and friends for centuries. Entire hamlets were sometimes razed to the ground in revenge for similar nefari ous acts carried out by bandits. The result has been a self-perpetuating orgy of violence and destruction at huge cost to society. Thousands of people have now been killed and maimed in the course of this crisis and hundreds of thousands more, traumatized and displaced. Primary schools have long been shut down and the society is in the throes of producing a generation of illiterates. Travel is risky and so is staying at home as entire villages have often been raided especially at night with men, women and children ruthlessly killed. Sometimes com munities are raided for several hours without any help or rescue effort by the government, a development that has driven communities to self-help efforts like the formation of vigilante groups which unfortunately, the government is yet unable to properly monitor, equip and organize.
He adds that “the government gets money and we also get money, though for our money, blood is spilled.”Thatthe government indeed “gets money” is further tragically reinforced by the paradox of the numerous eye-witness accounts that show that the bandits are typically better armed than the soldiers. While the bandits fund their arms purchases from proceeds of kidnappings the Nigerian military supposedly com mits trillions of Naira annually to defence spending. The bandit did not need to say it explicitly, but clearly not all of the monies budgeted for defence spending is actually being deployed as such. A huge chunk of these monies is apparently going into private pockets, leaving our soldiers at the frontline, under-equipped and inadequately motivated to confront theseTheterrorists.BBCdocumentary attempts to hear out a few other bandits apart from Abu Sanni above. Hassan, one of the earliest warlords who first began the importation of AK-47 rifles into the country from the Niger Republic for reprisals and other acts of banditry after his uncle was killed, laid down his arms for a while. But with such peace efforts not intelligently, competently and honestly overseen and managed by government, he has again returned to banditry in the aftermath of the destruction of the hamlet in which he lived upon embracing peace. The documentaries have been very brave efforts by both media organizations to elaborately examine the increasingly complex crisis of banditry and provide illumination on a legion of issues that need to be resolved. Have there been any attempts to glam orize the acts of banditry and terrorism as the Nigerian government accuses the media organizations? Certainly not, in my opinion. The terrorists are filmed either sit ting on mats in the bush or in the vicinity of their huts – locations where they have been accessed by the journalists and before them, government intermediaries as well as prominent Islamic cleric, Sheikh Gumi. There is therefore, no allusion to their invincibility.Thereisno reference to having commit ted their funds to any acts of ostentation except to procure more arms. Instructively, in the BBC documentary, the interviewer asks a bandit the deliberately provocative question: “what kind of a person goes into a room to abduct sleeping girls just because he has a problem with someone else?” To this, the bandit concedes, even if indirectly, that this was indeed, an evil act. BBC’s reporting of the crisis, especially, has been an eye-opener for me and I believe for many others. BBC, like Media Trust, therefore, deserves commendation for the investment in time, money and effort they committed to this project in the face of enormous risk all in a bid to enable Nigeria better understand the complexity of the banditry issue as part of efforts towards evolving a definitive solution to it. Men and women of goodwill need to upbraid the Nigerian government for its shortsighted and self-serving act of attempting to intimidate and censor these media houses. Media Trust should con sider going to court for an interpretation of the clauses in the Nigerian Broadcasting Code under which the government purports to have imposed the sanctions. So should the other media organizations that have been slammed the same fine for merely broadcasting any of the documen taries.Nigeria’s democracy, despite its faltering starts and stops has come a long way and assaults on free speech such as the government regularly slams on the media need to be stridently resisted.
The government’s only real interest in the problem appears to be how much political capital its operatives can derive from it, as eminently showcased in its desperate showboating efforts in the wake of the rescue of the Jangebe girls. BBC’s documentary notes that the government initially ignored the self-help attempt by the people to form vigilantes to stem the rising tide of banditry. With time, however, the government provided support including funding to these vigilantes. Now it has outlawed them. Accounts of the several talking heads in the documentary also show that the government typically underreports casualty figures of the crisis. As the crisis has escalated over the years, money has inevitably become a major defining influence. The bandits have come to realize how hopelessly insecure the Nigerian state is and perhaps how ineffectual and dishon est its leaders are. They recognize that they can amass millions of Naira in ransoms for kidnapping people and with such monies procure more arms to facilitate more kidnappings. Abu Sanni a bandit and selfconfessed perpetrator of the Jangebe abductions said as much in his interview. “It has become a business, that’s why things are deteriorating.”
-Okoruwa is a communications profes sional in Lagos.
Banditry Documentaries and Tragicomedy of Government Censorship
Rebecca Ejifoma
SECURITY THISDAY DAY AUGUST 15, 2022 43
CRIME SITUATION REPORTS
3. There must be improved facilities and improved living conditions on campuses so as to minimize perceived strain in the social system which underlines cultism on the 4.Universitiescampuses.should be reorganized, funded and should be provided with games so as to make universities attractive, involving, so that youthful exuberances of students will find a rewarding outlet in competitive sports like football, athlet ics which could engage students in their spare times.
6. Students who do not belong to cults can be organized into anti-cult vanguard to watch and report cult members to the university authorities or to law enforce ment agents.
Over the past two decades, various at tempts have been made to deal with the problem of cultism. The various measures taken to address the spate of cultism in Nigerian tertiary institutions include the enactment of Decree 47 of 1989 that pronounced a number of year jail term for any cultist found guilty. Rivers State government made a law stipulat ing a ten-year jail term sentence without an option of fine for culprits of cultism. Also, the Federal Republic of Nigeria under Chief Olusegun Obasanjo in 2000 issued a three-month ultimatum to all vice-chancellors to eradicate cultism from the campuses. Some higher institutions also set up anti-cult groups consisting of the student body itself and some security agents to monitor and check the activities of cultists on campus. Despite the various measures, it appears the proliferation of cult groups and their dastard acts continue unabated as there are allegations that some vice-chancellors were sponsoring cult activities in their universities to silence the voice of dissent. This appears not to augur well for a citadel ofConsideringLearning. its metropolitan status, Lagos State has its own fair share of the nuisance of cultism. However, the government has been investing heavily in the beefing up of the State’s security architecture, just to ensure that cultists and other such reprehensible groups do not have a field day of terror on the society. Toward this end, the Governor, Mr. Babajide Sanwo-Olu administration has rebranded and repositioned the State’s special crime-bursting outfit, the Rapid Response Squad (RRS). Not only this, the administration donated security equipment worth N8.7b to the State Police Command. Similarly, the governor has signed the bill for the Prohibition of Unlawful Societ ies and Cultism of 2021 into law, which stipulates a 21-year jail term for convicted cultists in the State. The State’s House of Assembly, in Feb ruary 2021, passed the anti-cultism bill, which also stipulates 15-year jail term for anyone found guilty of abetting cultists and residents who willfully allow their property to be used as meeting points by cultists. The anti-cultism law repeals the Cultism (Prohibition) Law of 2007 (now Cap. C18, Laws of Lagos State of Nigeria, 2015) and provides for more stringent punitive measures, as well as makes its application all-encompassing and appli cable to the general public, as against the restriction of the previous law to students of tertiary. According to the governor, the State had suffered the negative effects of unlawful societies and cultism. He, thus, stressed that the new law sought to make parents more responsible and show more interest in the upbringing of their children and wards to ensure that they do not become a burden to society. It must, however, be stressed that all the efforts of the government might not really achieve many results except every stakeholder in the society join hands with the government in the war against cultism. The following are the suggested solu tions to the menace of cultism in Nigeria tertiary institutions.
7. The school authorities must intensify armed patrol and surveillance on campuses. The current effort where students form vigilante groups to monitor cultists should be encouraged. Prompt action concerning cases of cultism is also a necessary condi tion as delay in taking actions against offenders worsens the situation. It is sug gested that any member of the public, no matter how highly placed, linked with the activities of cultism in campus should be tracked down and brought to book. It is therefore imperative on the part of the stakeholders in the university educa tion (the churches, the mosques, parents, school administrators and the society at large) to synergize efforts at eradicating the menace before it destroys the whole educational system. Besides, government should be more aggressive in her quest to eradicate cultism in the tertiary institutions. Other solutions likely to solve the inse curity challenge in Nigeria also include the following: Leadership development- It is viewed that Nigeria will have to develop visionary leadership, a leadership that is detribalized such that it has at leadership positions only people who are able to inculcate in their people or followers, the idea of common citizenship as the transcendent factor among all Nigerians, no matter the tribe, gender, religion, economic and social status. In other words, it is imperative that we have leaders who would not be limited to championing the causes of their home state, tribe, or religious groups, but rather focused on deeds and pronounce ments which convincingly and positively impact the entire citizenry of the federal republic”. The argument for this is that such leaders “will help to mold the con tending ethnic and religious groups into harmony and help to remove the perceived mutual distrust among them. The process of developing visionary leadership can be challenging, but however, it can be overcome “by using institutions of the Nigerian constitution as a nursery ground to produce leaders with national outlook and with a missionary zeal to transform the nation”.
5. The authorities of higher institutions of learning must show more seriousness in their determination to stamp out cult ism. They must brace up to the challenges of cultism, which has become one of the most potent evils of the recent time. It is very necessary for the Committee of Vice-Chancellors of Nigerian universities to adopt a common and uniform approach to solving the problem of cultism. The issue of former cultists who sometimes return to universities as staff must be looked into.
-Moronfolu is a seasoned security consultant with many years of security and policing experience. FELLOW, Fourth Estate Professional Society (FFPS), he has also partaken in peace keeping operations within and outside the country and has flair for general security education. Customs and NDLEA personnel at the handing and taking over of the Illicit goods
Navy Arrests, Seizes Smuggled Bags of Rice, Wraps of Cannabis
Naval,
1. Government and non-governmental agencies should step up their campaigns against cultism and its destructive tenden cies. The evil nature of cultism should be explained to young people in schools at all levels through sensitization, seminars and workshops. Through seminars, workshops, symposium, posters, handbills and public lectures, cultism may be effectively curtailed.2.Parents should desist from being members of secret cults and also prevent their children from joining bad groups. Moral education should be re-introduced in all spheres of our lives and the decadent society should be spiritually reawakened. The parents, religious organizations and government are to work jointly on this measure. Parents should be more vigilant concerning the activities of their children within and outside the home.
The Illicit goods ...Hands over items to Customs, NDLEA
INSECURITY CHALLENGES IN NIGERIA: WAY OUT OF SEEMING DESPONDENCY (7) Gbolahan Samuel Moronfolu Solutions to the Menace of Cultism
T he Nigerian Navy has seized 351 bags of foreign rice and 40 wraps of cannabis on Badagry/ Port Novo waterway and Badagry Beach, respectively. The illicit items were displayed at the "Handing and taking over" to officials of the Nigerian Customs and the National Drug Law Enforcement Agency (NDLEA) at the Navy Base Badagry last Wednesday. Speaking to newsmen, the Commanding Officer, Forward Operating Nigerian Navy Base Badagry, Captain James Otache, said while the items were captured, the suspects took to their heels upon sighting the navy patrol ship. The seizure, according to the commanding officer, is in line with extant regulations and harmonised standard operating procedures. "It is expedient that the items are handed over to the appropriate prosecuting agen cies – Nigerian Customs Service and the NDLEA," he clarified. Otashe, however, cautioned perpetrators of the heinous acts and prospective smugglers to desist from it, adding that the Nigerian Navy would not rest on its oars to put an end to these nefarious activities. While commending the Chief of Naval Staff, Vice Admiral Awwal Gambo for his support for FOB Badagry, the commanding officer promised that the NN would continue to mount aggressive patrols until smuggling of any kind is brought to an end. In his reaction, the Chief Superintendent, Narcotic, NDLEA, Mr Abdul Maiyaki, echoed the resolve of the new Chairman of the NDLEA not to leave any stone unturned. "We are busy combing the streets, arresting the barons and making sure they face the wrath of the law," he emphasised. Admitting that crime is part of society, Maiyaki assured the public that the NDLEA is doing everything possible to see that it brings this drug menace, trafficking, and abuse to the nearest minimum. He added: "We have this great synergy which we have been manifesting over time. We appreciate the efforts and the cooperation of the Nigerian Navy and Customs."TheCSM hinted that the NDLEA is going to deploy its intelligence unit to see that the owners of the drugs are apprehended and face the Meanwhile,consequences.theDeputyComptroller in charge of Seme Command, Nigeria Custom, Mr Sunday Enogela, highlighted that since the coming of the Comptroller General of Custom (CGC), "we have been doing everything to ensure that the smuggling of rice, arms, ammunition and others is brought to an end. "Thanks to the Navy and other agencies. They have been doing a lot to dissuade thisHe,crime".therefore, cautioned culprits that the smuggled rice could have some en vironmental hazards and be dangerous to the health of Nigerians. "The smuggled food could be a menace to the agricultural system. It could be poisonous. It is not the interest of the government," Enogela outlined.
He said, “Ten years have passed like yesterday and the young institution has started to grow and we are happy that Jaiz as the pioneer has proved that the concept is workable in the Nigerian environment. Commenting on its overall performance, he said, “The bank has made much impact at such a short lifespan. So, we believe that with all these value-added services within the last 10 years have been rewarding, we are looking with great expectations for the Next 10 years. “And if there is any leading bank in financing the rice value chain including the new rice mills that are being created over the last four, five years, Jaiz Bank is one of the leading banks in that area.”
He added that non-interest banking remained open to all irrespective of their persuasion, stressing that it has become a growing world phenomenon. He said the bank had been able to grow its balance sheet size from about N12 billion in 2003 to N300 billion in 2021 as well as grew its branches from only three branches at the beginning to currently about 45 branches spread across the country.Usman pointed out that the practice of Islamic banking in Nigeria had “started to become a reality not just with private and businesses but also with government participating in the sector to the benefit of the nation – funding basic infrastructure especially roads through the Sukuk instrument”.
OPEC DAILY BASKET PRICE AS AT THURSDAY, MAY 7
DBN To Train 200 MSME, Give Grant to 14 Buhari, Osinbajo, Emefiele, Others to Headline CIBN Conference Nume Ekeghe President Muhammadu Buhari, Vice President Yemi Osinbajo, and the Governor of the Central Bank of Nigeria, Godwin Emefiele have been lined up to speak at the 15th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria Speaking(CIBN)ahead of the conference, the Managing Director of Sterling Bank, Mr. Abubakar Suleiman, who is the Chairman of the Consultative Committee, said the conference is slated to hold in September this year, will provide a veritable platform for subject matter experts and industry stakeholders to drive conversations and unanimously design a clear road map towards repositioning the financial services industry for growth and stability. The conference themed, “Repositioning The Financial Services Industry For An Evolving Glocal Context” will have more than 10,000 proferssionals participating and will also have the Lagos state governor, Mr. Babajide Sanwo-Olu, Minister of Finance,Mrs. Zainab Ahmed, as well as Minister, Federal Capital Territory, Mr. Mohammed Musa, among other invited dignitaries.” Also, Chairman of Union Bank of Nigeria Plc, Mr. Farouk Gumel, is expected to speak on the theme of the conference setting the tone for the intellectual discourse that involve 48 seasoned resource persons who, Suleiman said have been carefully selected to discuss the various sub-themes and proffer sustainable and workableSuliemansolutions.furthered that the conversations at the conference will delve into “banking in Africa: The Role of AfCFTA and PAPSS”, “Nigeria’s Economy in the Last Five years: Lessons Learnt and Choices to Make in the Next Five Years”, “Workforce Globalisation: Opportunities & Threat”, “Banking & Fintech: The Nexus and Opportunities” as well as “Climate Change: The Role of Financial Services Sector”.
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).
Nume Ekeghe As part of efforts at boosting capacity and funding for micro small and medium enterprises (MSMEs) in the country, the Development Bank of Nigeria (DBN) said it will be training 200 businesses with 14 of them getting grants to further expand. DBN in a statement noted the training, which is in line with its core mandate of capacity building will enable beneficiary MSME operators formalise, grow and become more bankable to get easy access to available credit. Commenting on financing for MSMEs in the country, Managing Director and Chief Executive DBN, Mr. Tony Okpanachi, noted the need for increased participation by financial institutions in providing the required funding for small businesses in the country. Whilst noting that the several interventions of the Central Bank of Nigeira were not enough to provide the required funding, he said DBN is poised and committed to solving these challenges especially as it relates to bridging financing gaps.
Last year, the scheme gave at least 170 young people an interest-free loan ranging from N250,000 to N3million. The programme also featured a video testimonial of successful beneficiaries of the loan. AbdulRazaq said that, nowhere in the world is the conversation around the future of young people more important and urgent than in sub-Saharan Africa where up to 70% of the population are below the age of 30. The Governor said the country must seize every opportunity to engage its growing young“Thispopulation.isanopportunity for growth and prosperity. But it could also be a threat to stability, peace, and security on the continent if not managed. This is why we must not lose the conversation around inclusion, growth, quality engagement and empowerment of young people. For this reason, I align myself with the theme of this gathering, which is Intergenerational Solidarity: Creating A World for All Ages, ”he said. He opined that, “Our administration has a reputation for listening to, engaging and empowering young people in very practical terms. Many of our projects, programmes, and policy direction have been conceived to benefit especially young people. Also speaking, the state coordinator of KWASSIP, Mr. AbdulQuawiy Olododo said beneficiaries were drawn from a pool of those who had applied for Kwapreneur 1.0 and nominations from artisan groups, community organisations, and youth groups, among others.
Hammed Shittu Kwara State Government at the weekend supported businesses owned by 100 young people in the state with N1million grant each as part of move to reduce poverty, create wealth and accelerate the economic prosperity of the state. Speaking at the event to mark the International Youth Day in Ilorin, the state governor, AbdulRahman AbdulRazaq said that, youth inclusion and productive engagement are key to sustainable future. The N1million grant is funded through Kwapreneur 2.0, a programme specifically designed to support businesses owned by young people and funded through the Kwara State Social Investment Programme (KWASSIP).
Kwara Govt Supports 100 Youths with N1m Grant Each to Boost Economy
From L - R: Executive Director, Legal and Corporate Services, Mr. Ugochukwu Ndubuisi; Chief Financial Officer, Mr. Benson Ajayi; Company Secretary, Ms. Edem Aye; Chairman, Board of Directors, Mr. Dapo Oshinusi; Chief Executive Officer, Mr. Deji Alli and Non-executive Director, Mr. Sadiq Mohammed At Mixta Real Estate Plc 14th AGM held in Lagos... recently
BUSINESS/ MONEYGUIDE Jaiz Bank Spends N75bn on Agriculture in 10Years MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) JUNE 2022 Money Supply (M3) 48,865,823.53 -- CBN Bills Held by Money Holding Sectors 167,956.2 Money Supply (M2) 48,797,867.32 -- Quasi Money 28,405,330.1 -- Narrow Money (M1) 20,392,537.22 ---- Currency Outside Banks 2,722,785.91 ---- Demand Deposits 17,669,751.32 Net Foreign Assets (NFA) 6,242,394.29 Net Domestic Assets(NDA) 42,623,429.24 -- Net Domestic Credit (NDC) 57,267,178.05 ---- Credit to Government (Net) 17,996,690.06 ---- Memo: Credit to Govt. (Net) less FMA 0.00 ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 ---- Credit to Private Sector (CPS) 39,270,488 --Other Assets Net 5,566,430 Reserve Money (Base Money 11,320,304 --Currency in Circulation 3,259,269.15 --Banks Reserves 11,320,303.72 --Special Intervention Reserves 384,377.56 Money Market Indicators (in Percentage) MonthJune 2022 Inter-Bank Call Rate 11.10 Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR) 13.00 Treasury Bill Rate 2.45 Savings Deposit Rate 1.38 1 Month Deposit Rate 3.48 3 Months Deposit Rate 4.55 6 Months Deposit Rate 4.97 12 Months Deposit Rate 5.30 Prime Lending rate 12.29 Maximum Lending Rate 27.61 44 THISDAY AUGUST 15, 2022 James Emejo The Managing Director/Chief Executive, Jaiz Bank Plc, Mr. Hassan Usman, has disclosed that the bank had financed the agricultural sector to the tune of N75 billion in the last 10 years. He also said that the bank had disbursed over N60 billion to more than 2,000 as well as created credit facilities for over 20,000Speakingindividuals.atamedia briefing to commemorate the bank’s 10th year in operation, Usman, also said one of the areas the noninterest financial institution had impacted significantly was the delivery of housing to Nigerians. He said the bank had delivered over 3,000 houses to Nigerians within the past decade.
MAIN
MARKETPRICE QUANTITYTRADED VALUE TRADED(N) Reports Increase in Revenue to $57.3m
BOARDDEALS
Jumia
THISDAY 45 Kayode Tokede Jumia Technologies has announced its unaudited financial results for the second quarter (Q2) ended June 30, 2022 with $57.3million revenue, representing an increase of 43 per cent from $40.2million reported in second quarter ended June 30, 2021. The company in a statement stated that the increase in revenue was driven by the strong growth in First Party revenue, which accelerated by 92per cent in the Q2 2022, on a year-over-year basis, and supported by the strong momentum in the Fast-Moving Consumer Goods (FMCG) and grocery sub-category in particular. The statement said, “To support usage growth, we continue to deploy consumer incentives in the form of promotional discounts, which are accounted for as revenue deductions. Strategic use of consumer incentives on selected products or categories helps us drive conversion and is a core part of our strategy to scale the business towards profitability. “Revenue is presented net of consumer incentives, which reached $8.2 million in the Q2 2022 compared to $4.5 million in the second quarter of 2021. Consumer incentives related to First Party revenue reached $2.0 million in the Q2 2022, compared to $0.9 million in the Q2 2021. “We are currently focused on enhancing the efficiency of our promotional investments. The ratio of consumer incentives as a percentage of revenue has been improving sequentially from 18per cent in the fourth quarter of 2021 to 15per cent in the Q1 2022 and 14per cent in the Q2 2022.” Jumia’s operating loss was $67.7 million in Q2 2022, up 31per cent year-over-year and 43per cent on a constant currency basis, as a result of operating expenses increases partly offset by gross profit expansion. PRICES FOR SECURITIES TRADED AS OF 12 /8/2022
Commenting on the performance, the Co-Chief Executive Officers of Jumia, Jeremy Hodara and Sacha Poignonnec said, “We remain focused on scaling the business towards profitability. In the second quarter of 2022, we have successfully delivered on each building block of our path to profitability: usage growth momentum, monetization acceleration and cost discipline. Despite a deteriorating macro environment, we maintained a strong pace of usage growth. Orders, Quarterly Active Consumers and GMV grew by 35per cent, 25 per cent and 21 per cent respectively, on a year-over-year basis.“Leveraging robust usage growth, we further accelerated monetization. Gross Profit and Marketplace revenue were up 14 per cent and 17 per cent year-over-year respectively, the fastest growth rates of the past 5 quarters.
MARKETPRICE QUANTITYTRADED VALUE TRADED(N)
MAIN BOARDDEALS
43%
MONDAY AUGUST 8, 2022 • THISDAY46
MARKET NEWS 47MONDAY, AUGUST 15, 2022 • THISDAY 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.
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 11Aug-2022, unless otherwise stated. Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date. assetmanagement@emergingafricafroup.com
Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund NameBid PriceOffer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 7.99% Emerging Africa Bond Fund 1.03 1.03 8.76% Emerging Africa Balanced Diversity Fund 1.04 1.04 4.32% Emerging Africa Eurobond Fund 102.99 102.99 1.90% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS Coral Balanced Fund 4,070.29 4,125.49 7.30% Coral Income Fund 3,599.78 3,599.78 6.20% Coral Money Market Fund 100.00 100.00 9.86% FSDH Dollar Fund 1.11 1.11 4.00% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund NameBid PriceOffer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.83% Vantage Balanced Fund 2.90 2.95 4.74% Vantage Guaranteed Income Fund 1.00 1.00 7.31% Kedari Investment Fund (KIF) 142.06 142.06 7.59% Vantage Equity Income Fund (VEIF) - June Year End 1.26 1.29 1.03% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 7.84% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund NameBid PriceOffer Price Yield / T-Rtn Lotus Halal Investment Fund 1.60 1.63 12.68% Lotus Halal Fixed Income Fund 1,162.11 1,162.11 5.87% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund NameBid PriceOffer Price Yield / T-Rtn Meristem Equity Market Fund 12.33 12.39 12.93% Meristem Money Market Fund 10.00 10.00 9.77% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund NameBid PriceOffer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.74 101.74 9.57% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.08% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund NameBid PriceOffer Price Yield / T-Rtn PACAM Balanced Fund N/AN/AN/A PACAM Fixed Income Fund N/AN/AN/A PACAM Money Market Fund N/AN/AN/A PACAM Equity Fund N/AN/AN/A PACAM EuroBond Fund N/AN/AN/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund NameBid PriceOffer Price Yield / T-Rtn SCM Capital Frontier Fund 130.04 132.63 4.74% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund NameBid PriceOffer Price Yield / T-Rtn SFS Fixed Income Fund 1.05 1.05 9.25% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund NameBid PriceOffer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,616.40 3,658.02 6.87% Stanbic IBTC Bond Fund 240.67 240.67 2.16% Stanbic IBTC Ethical Fund 1.44 1.47 15.48% Stanbic IBTC Guaranteed Investment Fund 324.12 324.13 3.51% Stanbic IBTC Iman Fund 267.01 271.10 14.50% Stanbic IBTC Money Market Fund 1.00 1.00 6.55% Stanbic IBTC Nigerian Equity Fund 11,978.74 12,149.30 9.83% Stanbic IBTC Dollar Fund (USD) 1.33 1.33 3.10% Stanbic IBTC Shariah Fixed Income Fund 119.32 119.32 2.06% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 111.28 111.28 4.61% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund NameBid PriceOffer Price Yield / T-Rtn United Capital Equity Fund 0.98 1.00 10.38% United Capital Balanced Fund 1.33 1.35 2.31% United Capital Wealth for Women Fund 1.15 1.17 11.38% United Capital Sukuk Fund 1.07 1.07 4.40% United Capital Fixed Income Fund 1.90 1.90 3.88% United Capital Eurobond Fund 122.43 122.43 3.33% United Capital Money Market Fund 1.00 1.00 9.72% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund NameBid PriceOffer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.76 13.89 4.34% Zenith ESG Impact Fund 16.16 16.33 10.57% Zenith Income Fund 22.98 22.98 4.68% Zenith Money Market Fund 1.00 1.00 6.69% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid PriceOffer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.80 3.90 -5.08% Vetiva Consumer Goods Exchange Traded Fund5.87 5.97 0.38% Vetiva Griffin 30 Exchange Traded Fund18.22 18.42 3.02% Vetiva Money Market Fund1.00 1.00 7.06% Vetiva Industrial Goods Exchange Traded Fund19.22 19.42 -3.81% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund148.21 150.21 -6.02% REITS Fund Name NAV Per Share Yield / T-Rtn SFS REIT 117.96 4.16% Union Homes REIT51.82 1.90% EXCHANGE TRADED FUNDS Fund Name Bid PriceOffer Price Yield / T-Rtn Lotus Halal Equity Exchange Traded Fund 14.48 14.58 3.55% SIAML Pension ETF 40 134.63 137.92 5.87% Stanbic IBTC ETF 30 Fund103.64 105.85 3.86% MERGROWTH ETF16.40 16.50 -2.94% MERVALUE ETF17.10 17.20 20.26% INFRASTRUCTURE FUND Fund Name NAV Per Share Yield / T-Rtn Chapel Hill Denham Nigeria Infrastructure Debt Fund 107.59 0.00% info@anchoriaam.com MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund NameBid PriceOffer Price Yield / T-Rtn Afrinvest Equity Fund N/AN/AN/A Afrinvest Plutus Fund N/AN/AN/A Nigeria International Debt Fund N/AN/AN/A Afrinvest Dollar Fund N/AN/AN/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund NameBid PriceOffer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 8.55% AIICO Balanced Fund 3.68 3.74 8.01% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund NameBid PriceOffer PriceYield / T-Rtn Anchoria Money Market 100.00 100.00 4.90% Anchoria Equity Fund 139.84 141.42 0.42% Anchoria Fixed Income Fund 1.18 1.18 3.47% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund NameBid PriceOffer Price Yield / T-Rtn ARM Aggressive Growth Fund 21.49 22.14 5.95% ARM Discovery Balanced Fund 510.92 526.33 13.25% ARM Ethical Fund 42.94 44.24 10.23% ARM Eurobond Fund ($) 1.07 1.08 -0.43% ARM Fixed Income Fund 1.05 1.06 3.71% ARM Money Market Fund 1.00 1.00 8.05% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund NameBid PriceOffer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 96.896.8-0.19% AVA GAM Fixed Income Dollar Naira 1,095.05 1,095.05 9.50% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund NameBid PriceOffer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/AN/AN/A AXA Mansard Money Market Fund N/AN/AN/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund NameBid PriceOffer Price Yield / T-Rtn CEAT Fixed Income Fund N/AN/AN/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/AN/AN/A CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund NameBid PriceOffer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund 1,012.20 1,012.20 4.69% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund NameBid PriceOffer PriceYield / T-Rtn CardinalStone Fixed Income Alpha Fund N/AN/AN/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund NameBid PriceOffer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.45% Paramount Equity Fund 19.3619.7111.12% Women's Investment Fund 147.54 149.36 3.96% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund NameBid PriceOffer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.62% Cordros Milestone Fund 133.02 133.95 6.82% Cordros Dollar Fund ($) 110.67 110.67 5.04% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund NameBid PriceOffer Price Yield / T-Rtn Coronation Money Market Fund N/AN/AN/A Coronation Balanced Fund N/AN/AN/A Coronation Fixed Income Fund N/AN/AN/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund NameBid PriceOffer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/AN/AN/A EDC Nigeria Money Market Fund Class B N/AN/AN/A EDC Nigeria Fixed Income Fund N/AN/AN/A EMERGING AFRICA ASSET MANAGEMENT LIMITED
Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund NameBid PriceOffer Price Yield / T-Rtn FBN Bond Fund 1487.181487.1811.34% FBN Balanced Fund 194.39 195.67 10.92% FBN Halal Fund 122.27 122.27 10.69% FBN Money Market Fund 100.00 100.00 9.31% FBN Dollar Fund (Retail) 125.17 125.17 5.79% FBN Nigeria Smart Beta Equity Fund 159.52 161.66 5.48% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund NameBid PriceOffer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.89% Legacy Debt Fund 3.74 3.74 -6.65% Legacy Equity Fund 1.89 1.93 8.59% Legacy USD Bond Fund 1.24 1.24 2.51% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund
NameBid PriceOffer Price Yield / T-Rtn
MONDAY AUGUST 15, 2022 • THISDAY48
German Minister Decries EcologicalCatastrophe in Oder River Germany’s environment minister said the mass die-off of fish in the Oder River is an ecological catastrophe and it isn’t clear yet how long it will take for the river to recover. Steffi Lemke spoke Sunday at a news conference alongside her Polish counterpart, Anna Moskwa, after a meeting in Szczecin, a Polish city on the Oder River. The Oder runs from the Czech Republic to the border between Poland and Germany before flowing into the Baltic Sea. Ten tons of dead fish were removed from it last week, but Moskwa said the cause of the mass die-off still has not yet been determined.“Sofar,atleast 150 samples of water from the Oder River have been tested. None of the studies has confirmed the presence of toxic substances. At the same time, we are testing fish. No mercury or other heavy metals have been found in them,” she said. She said some Oder water samples were being sent to foreign laboratories to be tested for about 300 substances. Both ministers said they were focused now on doing what they could to limit the damage to the river’sLemkeecosystem.suggested that German authorities were not alerted quickly enough after dead fish were detected in Poland and said communications between the two countries should be improved. in Egypt Coptic Church
Andby Makuru, leader of Johane Masowe’s apostolic sect, did not immediately respond to a request forIncomment.Zimbabwe, some apostolic church sects forbid their followers from taking vaccinations or any medical treatment. The churches attract millions of followers with their promises to heal illnesses and deliver people from poverty.
2 Pakistani Soldiers Killed ByMilitants
Key US lawmakers called Sunday for a closer look at the justification for last week’s court-authorised search of former President Donald Trump’s oceanside resort in Florida and whether he damaged US national security by taking highly classified documents with him when he left the White House in early 2021. “We have a number of concerns,” Congressman Mike Turner, the lead Republican on the House Intelligence Committee, told CNN’s “State of the Union” show. “One is whether or not the raid was justified,” which Attorney General Merrick Garland said he personally authorised before a US magistrate approved it. “We have this list from the FBI (of what it discovered at Trump’s Mar-a-Lago home),” Turner said, “but we don’t have conclusive (evidence) as to if this is actually classified material and whether or not it rises to the level of highly classified material.”
Mexico President to BypassCongress to Keep Soldiers in Streets Mexico’s president has begun exploring plans to sidestep congress to hand formal control of the National Guard to the army, a move that could extend the military’s control over policing in a country with high levels of Thatviolence.hasraised concerns because President Andrés Manuel López Obrador won approval for creating the force in 2019 by pledging in the constitution that it would be under nominal civilian control and that the army would be off the streets by 2024. Neither the National Guard nor the military has been able to lower the insecurity in the country, however. This past week, drug cartels staged widespread arson and shooting attacks, terrifying civilians in three main northwest cities in a bold challenge to the state. Still, López Obrador wants to keep soldiers involved in policing and remove civilian control over the National Guard, whose officers and commanders are mostly soldiers, with military training and pay grades. But the president no longer has the votes in congress to amend the constitution and has suggested he may try to do it as a regulatory change with a simple majority in congress or by an executive order and see if the courts will uphold that. López Obrador warned Friday against politicising the issue, saying the military is needed to fight Mexico’s violent drug cartels. But then he immediately politicised it himself.
Zimbabwe Church Blamed for Measles Outbreak That Killed 80 Children A measles outbreak has killed 80 children in Zimbabwe since April, the ministry of health said, blaming church sect gatherings for the surge. In a statement seen by Reuters Sunday, the ministry said the outbreak had now spread nationwide, with a case fatality rate of 6.9 per cent. Health Secretary Jasper Chimedza said that as of Thursday, 1,036 suspected cases and 125 confirmed cases had been reported since the outbreak, with Manicaland in eastern Zimbabwe accounting for most of the infections. “The ministry of health and childcare wishes to inform the public that the ongoing outbreak of measles which was first reported on 10th of April, has since spread nationwide following church gatherings,” Chimedza said in a statement.“Thesegatherings which were attended by people from different provinces of the country with unknown vaccination status led to the spread of measles to previously unaffected areas.”
Manicaland, the second-most populous province, had 356 cases and 45 deaths, Chimedza said. Most reported cases are among children aged between six months and 15 from religious sects who are not vaccinated against measles due to religious beliefs, heBishopadded.
Kuwait Names First Ambassador to Iran in over 6 Years
At Least 41 Killed
FOREIGN DESK 49 COMPILED BY BAYO AKINLOYE Egypt’s health ministry says that 41 people were killed when a fire broke out in a Coptic church in the densely populated Cairo suburb of Imbaba. Witnesses say the fire started following a short circuit in an air conditioning unit. People shouted and screamed as the fire raged on the top floors of the Martyr Abu Sefein Church. Witnesses say it took firefighters three hours to arrive at the scene. Many of the victims were children. Egyptian media, quoting eyewitnesses, reported that the fire started after a power outage at the church caused an electrical generator to turn lights and air conditioning units on, triggering a short circuit in one of Primethem. Minister Mustafa Madbouly, along with General Ahmed Rashed, the governor of the Giza province where the church is located, went to the scene of the fire. They presented the government’s condolences along with pledges to help the families of theMadboulyvictims. said he and his government’s members inspected the fire’s site and are prepared to pay 100,000 Egyptian pounds to the families of those who died and 20,000 pounds to families of those injured, in addition to providing top-notch treatment to victims who were One-hundred-thousandhospitalised. Egyptian pounds equals about $5,214. Twenty-thousand pounds would be just over $1,000. Mar-a-Lago home US Lawmakers Demand Closer Look at Trump’s Mar-a-Lago Home
Fire THISDAY , AUGUST 15, 2022
China claims self-ruled Taiwan as its territory and objects to it having any official contact with foreign governments.
After last Monday’s search, FBI agents carted away 20 boxes of material that they said included 11 classified document files, including some labelled with the highest US security classification – “Top Secret/ Sensitive Compartmented Information” that must only be viewed in highly secure government-controlled locations. Trump’s winter-time home was not such a place, although the former US leader is claiming he declassified the material before leaving office, as would have been his right to do so. But US officials have since said there is no trail of paperwork showing that he declassified the documents the FBI agents found.
An attack by militants in Pakistan’s volatile southwestern Baluchistan province left two soldiers dead and six wounded, the military said Sunday. The military said in a statement that one of the wounded soldiers was an officer who was hurt during a heavy exchange of fire with fleeing attackers after their attack was repulsed. The militants were then chased into mountains in Khost province, it Intelligencesaid.officials said six soldiers and two civilians were wounded in the attack. They spoke on condition of anonymity for not being authorized to speak to the media. The army did not identify the attackers, and no group immediately claimed responsibility for the assault. Baluch insurgents operating in the region, however, have carried out similar attacks on security forces in recent months and targeted coal miners. For nearly two decades, Baluchistan has been the scene of a low-level insurgency by the Baluchistan Liberation Army and other separatist groups demanding independence from the central government in Islamabad. The government says it has quelled the insurgency, but violence in the province has persisted.
Kenya Vote Count Continues, Tempers Fray at Election Centre Additional riot police were deployed inside Kenya’s national election tallying centre overnight after a crowd of men scuffled in the early hours of Sunday and a party official shouted accusations into the microphone. The fracas underscored fraying tempers and high tensions within the national counting hall as the country waits for official results from last Tuesday’s election. There were wry digs online over the melee from citizens pointing out that the rest of the nation is waiting patiently. In the presidential race, results show a tight race between left-leaning opposition leader Raila Odinga and selfmade businessman Deputy President William Ruto. But confusion over vote tallying by the media and a slow pace by the electoral commission have fed anxiety in Kenya, which is East Africa’s richest and most stable nation but has a history of violence following disputed elections.
The United Arab Emirates is working to send an ambassador to Iran as it seeks to rebuild bridges following years of animosity, a senior Emirati official said last month. Saudi Arabia launched direct talks with Iran last year. The kingdom’s foreign minister has said there has been some progress in five rounds of Iraq-mediated discussions, but “not enough.”
Kuwait has appointed an ambassador to Iran, both co untries said Sunday, more than six years after recalling its top envoy to Tehran in solidarity with Saudi Arabia after it severed ties with the Islamic Republic in Ambassador2016.Bader Abdullah Al-Munaikh handed his credentials to Iranian Foreign Minister Hossein Amir-Abdollahian in Tehran Saturday, Iran’s foreign ministry said on its website. Kuwait’s foreign ministry confirmed that Al-Munaikh was appointed envoy to Iran. Iran already has an ambassador in Kuwait. The move comes as Sunni Muslim powerhouse Saudi Arabia works to improve ties with Shiite Iran, with which it has been locked in a rivalry that has played out across conflicts in the region. Riyadh broke off ties with Tehran in January 2016 after Iranian protesters stormed the Saudi Embassy in Iran after Saudi Arabia executed a prominent ShiiteKuwaitcleric.recalled its envoy to Iran as other Gulf Arab states downgraded ties to rally behind Riyadh. Kuwait has maintained relatively good relations with Tehran under a foreign policy balancing ties with its larger neighbours.
More US Lawmakers Visiting TaiwanDays After Pelosi Trip A delegation of American lawmakers is visiting Taiwan just 12 days after a visit by House Speaker Nancy Pelosi that angered China. China responded to Pelosi’s visit by sending missiles, warships and warplanes into the seas and air around Taiwan. The five-member delegation is led by Democratic Senator Ed Markey of Massachusetts and is in Taiwan on Sunday and Monday as part of a visit to Asia, the American Institute in Taiwan said. They will meet senior leaders to discuss US-Taiwan relations, regional security, trade, investment and other issues. A Taiwanese broadcaster showed a video of a US government plane landing about 7:00 p.m. at Songshan Airport in Taipei, the Taiwanese capital.
45TH ANNUAL GENERAL MEETING OF INTERNATIONAL BREWERIES… L-R: Legal & Corporate Affairs Director, International Breweries Plc (IB Plc),Temitope Oguntokun; Managing Director, Hugo Rocha; Chairman, Board of Directors, H.R.M. Nnaemeka Achebe, and Company Secretary/General Counsel, Muyiwa Ayojimi, at the 45th Annual General Meeting of International Breweries in Lagos...recently
NEWS Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered no fewer than 442 parcels of crystal methamphetamine concealed in heads of smoked fishes at the SAHCO shed of the Murtala Muhammed International Airport, Lagos.The drug-laden smoked fishes were packaged in cartons weighing 11.9 kilogrammes and for export to Dubai, the United Arab Emirates. According to a statement yesterday, by the spokesman of the anti-narcotics agency, Femi Babafemi the consignment was brought to the SAHCO export shed of the airport on August 5th, by a freight agent, Adekunle Paul, 32, from Yagba West local government area of Kogi State. He was promptly arrested upon the discovery that the seven cartons he presented for export contained parcels of the dangerous drug wrapped with foil paper and concealed in the heads of hundreds of smoked Babafemicatfish.disclosed that the following day, Saturday 6th August, another consignment containing 1.45 kilogrammes cannabis concealed inside granulated melon and crayfish and packed among other food condiments going to Dubai, UAE was also intercepted by NDLEA operatives who arrested the freight agent, Ajisefini Lateef that presented the cargo for export at the SAHCO shed. Also, the statement disclosed that anti-narcotic officers at the Akanu Ibiam International Airport, Enugu, have arrested a 50-year-old Mgbeobuna Eberechukwu for ingesting 77 pellets of cocaine. He was arrested on Saturday 6th August following his arrival from Addis Ababa, Ethiopia onboard an Ethiopian airline flight. Babafemi said the suspect passed out the 77 wraps of the illicit drug in eight excretions spanning four days.In Kaduna, three suspectsSaifullahi Sani, Salisu Nafi'u and Abdulrazaq Mamman - were arrested in Zaria last Thursday with 1,112,350 tablets of tramadol (225mg and 100mg) weighing 38.3 kilogrammes, while in Kano, a female drug dealer, Saratu Abdullahi, 28, was nabbed at Hotoro with 541 blocks of cannabis weighing 245 kilogrammes. In Lagos, NDLEA operatives recovered a total of 1,773.25k kilogrammes cannabis sativa at Ebutte-Meta and Akala in Mushin areas of the state in separate raid operations between 9th and 10th of AtAugust.the Tincan seaport in Lagos, 86 parcels of cannabis indica (Colorado) weighing 43 kilogrammes were recovered from a 40ft container during a joint examination with Customs and other security agencies. The illegal consignment seized last Friday, was brought in from Toronto via Montreal, Canada and concealed in two drums inside a Mercedes Benz SUV in the container. In Abia, two suspects: Nnanna Ijo, 58, and Orji Uguru, 29, were arrested last Friday with various quantities of cannabis, heroin and cocaine at Nde-Agbai, Abiriba, a week after Nnanna was released
The Director General disclosed that, “it is on record that presently the APPEALS programme is paying money instantly into the accounts of the beneficiaries,” adding: “Some of them are here and we say thank you very much Your Excellency.”
Moghalu wants presidential candidates interrogated on their plans to tackle terrorism from detention over a similar offence committed in June. Meanwhile, the Chairman/ Chief Executive of NDLEA, Brig. Gen. Buba Marwa (Retd) while commending the officers and men of MMIA, AIIA, Tincan, Kaduna, Kano, Lagos and Abia Commands of the agency for the seizures and arrests, charged them and their compatriots across the country to always remain steps ahead of the drug cartels.
Commending Ugwuanyi's role in keeping the group alive, he said: "Your Excellency, without you, this ‘Project 2019 and Beyond’ would have been moribund with the death of the man who gave birth to this group. But we are happy because the Project 2019 and Beyond is still alive. “When we say beyond, it means Project 2019 has gone beyond 2019. We are talking about Project 2023 and we came here to give you maximum support and solidarity; that we are totally behind you and your senatorial bid; that we are also behind your preferred governorship candidate, Peter Mbah, who is the candidate of the PDP in Enugu State likewise other PDP candidates in Nsukka LGA.”The Chairman of Nsukka LGA, Walter Ozioko, the PDP candidates for Nsukka East and Nsukka West constituencies, Christiana Onah and Amos Agbo respectively, were with the LG and Ward Executives of Project 2019 and Beyond for Gburugburu during the solidarity visit to the governor.
With exactly 194 days to the 2023 presidential election, the President of Anap Foundation and Founder Stanbic IBTC, Chief Atedo Peterside has stressed that whoever emerges victorious at the poll would require a lot of hard work and tough choices in his first year for someone who is serious in addressing the myriad of challenges confronting the country.Peterside Twitted this at the weekend, in response to comment by the presidential candidate of the Labour Party, Mr. Peter Obi, that he (Obi) has not promised to make anyone happy if he becomes president because of the current situation in the country. Precisely, the economist stated that a serious presidency in the first year might be about, “blood, sweat and tears, not happiness.” According to him, delays would not be required in implementing critical reforms in the country. The leading presidential candidates are Mr. Bola Tinubu of the ruling All Progressives Congress; Alhaji Atiku Abubakar of the Peoples Democratic Party; Obi of Labour Party, and Alhaji Rabiu Kwankwaso of the New Nigeria Peoples Party. Peterside, who is the Convener of GoNigeria wrote: “The first year of a serious presidency commencing 29 May, 2023, might be about blood, sweat and tears and not happiness. The gain will only come after the initial pain. “An incoming federal government must address insecurity and economic mismanagement ‘head-on’ instead of ‘kicking the can down theObiroad.’had in an interview on News Central Television, said he did not promise to make anyone happy if he becomes president. According to the former Anambra governor, what he promised Nigerians was to take the country and restore it to its rightful place if elected president. “This is the time to scrutinise those who are offering themselves. When people are contesting in America, you see their uncles and aunts come out and say ‘yes, this person can be president or cannot be. That is where we are now. You need to see the character of this man, he said lives in Onitsha; we in Onitsha know“Therehim.are so many people that will tell you this man is useless. Not everybody will tell you that I’m good, they will tell you he is useless. I heard somebody on TV yesterday who said ‘don’t vote for Peter Obi’. He said there is no way he can vote Peter Obi because the man is wicked and he doesn’t give anybody one naira. But nobody said Peter Obi is a thief. “I have seen even church people say the man doesn’t give anybody anything. I have been in positions where I go around, come to Abuja and people say the people are not happy with you, I said why? In my heart as governor, I never promised anybody happiness. I promised to fix schools. Are the schools working? Yes. “So, those who want to be happy can go to the people in entertainment who make people happy. I am not happy myself. We want to fix it and I assure you we can start with the youths.”
In the meantime, a former Deputy Governor of the Central Bank of Nigeria and a former presidential aspirant under the African Democratic Congress, Prof. Kingsley Moghalu, has advised Nigerians to interrogate all the presidential candidates on the plans to tackle the rising spate of insecurity and terrorism in the country.Moghalu who Twitted this yesterday, wrote: “It seems to me that the most important question for the 2023 elections and whoever wins the presidency is the existential matter of security and the shrinking territorial integrity of Nigeria under the threat of terrorism. We should interrogate all the candidates on“Ithis.don’t think we’ve heard enough from them on this. We must not let the 2023 election be about stylish but empty slogans and emotional vituperations without a cold look at our fundamentals. A state is not really a state in international law if it’s not in control of its territory.”
Members of ‘Project 2019 and Beyond for Gburugburu’ have thrown their weight behind Governor Ifeanyi Ugwuanyi of Enugu State and his aspiration to represent Enugu North Senatorial District in the National Assembly on the platform of the Peoples Democratic Party (PDP) in 2023. The group which was formed by the late former Chairman of Nsukka Local Government Area, Chief Patrick Omeje, to galvanise youths to mobilise massive support for Ugwuanyi in 2019 and further strengthen his political ascendency beyond 2019, also declared their support for the governorship candidate of the PDP in Enugu State, Mr. Peter Ndubuisi Mbah, and other candidates of the party. Speaking when the LG
Peterside: First Year of Nigeria’s Next President May Be about Blood, Sweat, Tears
NDLEA Uncovers 442 Parcels of Crystal Meth in Heads of Smoked Fish
50 THISDAY • MONDAY, AUGUST 15, 2022
Executives and five members of the Ward Executives in Nsukka LGA paid a solidarity visit to Ugwuanyi at Government House, Enugu, the Director General of Project 2019 and Beyond for Gburugburu, Tony Ugwu, disclosed that they were emboldened by the numerous achievements of the governor in the state in spite of the nation’s economic and security challenges, his penchant for peace and good governance and the uncommon love he has shown to the group since its inauguration.Ugwupointed out that through the governor’s magnanimity and commitment to the well-being of youths of Enugu State, a lot of members of the group benefited from the World Bank supported Agricultural Productivity Enhancement and Livelihood Improvement Support (APPEALS) project.
2023: Group Pledges Support for Ugwuanyi, Mbah, Other PDP Candidates
Responsible for Insurgency, Poverty, Others, Says Omo-Agege
NEWS CONTINUING
Failed Leadership
The apex Igbo socio-cultural organisation, Ohanaeze Ndigbo Worldwide has asked the federal government to intervene in the legal battle involving former Deputy Senate President, Ike Ekweremadu who is currently facing trial over alleged organ harvesting in the United Kingdom.Ohanaeze also disagreed with a statement credited to the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, who last week said the federal government would not interfere with any local or international legal issues involving theMalamisenator.was quoted to have said it had never been the tradition of the Nigerian government to interfere in anything judicial, local or However,international.reactingto the AGF's comment in a statement by its National Publicity Secretary, Chiedozie Alex Ogbonnia yesterday, Ohanaeze said it was in the context of cultural relativism and the premium placed on their citizens’ welfare and national pride, that countries deploy their diplomatic weights and resources to ensure that their citizens obtain justice and even reprieve in a foreign land, no matter the gravity of the offence. The organisation noted that it was rather curious that the AGF made reference to Nigeria's “Child Rights Act” more than a month after the UK court had ruled that the “donor” is not a child."One would expect Nigeria to feel scandalised by the initial contempt by the British authorities in discountenancing an official document of Nigeria on the “donor’s” age in the first place and feel disrespected by the continued refusal to grant Ekweremadu bail for a clearly bailable offence," Ohanaeze stated. The organisation further stated that Ekweremadu had written to the UK High Commission to support a visa application of a “donor” listed as David Ukpo Nwamini."Inthe letter, Ekweremadu made a full disclosure that Mr. Ukpo was undergoing ‘medical investigations for a kidney donation to his daughter.’ The full name of the UK hospital was also stated and nothing shady. “The Ekweremadu letter to the British Embassy was unequivocal. He indicated the purpose of his travel and also requested the Embassy to grant visa to Mr Ukpo for a stated purpose. We view Ekweremadu’s full disclosure as a proof of non-criminal intent," it stated.Theorganisation pointed out that Ekweremadu had served Nigeria meritoriously in various capacities, including as the Deputy President of the Senate; the Speaker of the Economic Community of West Africa States (ECOWAS), among others, adding that he was decorated with the service honour of the Commander of the Federal Republic-CFR.
The Lagos State government has officially become a co-owner in the Western Nigeria Investment Group, the Odu’a Holdings, the Group Chairman of the company, Mr. Bimbo Ashiru has revealed. He said this when he presented to the Lagos State Governor, Mr. Babajide Sanwo-Olu, the state’s Odu'a investment share certificate. The presentation took place during a courtesy visit to the governor by the company’s board and management at Lagos. The Odu’a Group which was set up the government of Chief Obafemi Awolowo in the days of the Western region is owned by the Ogun, Oyo, Osun, Ondo and Ekiti state governments. Ashiru, during the presentation, said the company decided to hand over the share certificate to Sanwo-Olu to silence doubting
Ohanaeze Urges FG to Intervene in Ekweremadu's Alleged Organ Harvesting Suit, Disagrees with Malami
Segun James
L-R: Executive Director, Isaac Moghalu Foundation, Mrs. Maryanne Moghalu; Labour Party presidential candidate and former Governor of Anambra State, Mr. Peter Obi, and former Deputy Governor, Central Bank of Nigeria, Prof. Kingsley Moghalu, when Obi visited Moghalu at his residence in Abuja…recently
Sylvester Idowu in Warri Deputy President of the Senate, Ovie Omo-Agege, at the weekend, traced the prevailing Insurgency, poverty, political instability and collapse of government institutions to leadership failure. He noted that over the years, poor leadership had frustrated the achievement of the country’s enormous economic and political potentials.Omo-Agege, who made this position known at the 5th Annual Leadership Lecture/Graduation Ceremony of the Value RebirthCentre-LSD Leadership School, Effurun/Warri in Delta State, however, said all hope was not lost and urged the people to vote credible leadership in 2023. “But all is not lost, because state and nation-building all over the world have been and remain a permanent work-in-progress. As we move towards leadership selection in 2023, the leaders we need now should posses knowledge, sound Judgement and commitment to specific causes and ideals,” he said. The senator, who was represented by Mr. Mathew Omonade, said the country needed leaders with good moral conduct and ethical responsibility to attend to demands, needs and problems of Omo-AgegeNigerians. noted that genuine leadership also needed honest, courageous and credible followership less vulnerable to manipulation, adding that, followership was an indispensible aspect of leadership. He said the stability and progress of the country required the deployment of deliberate
The Socio-Economic Rights and Accountability Project (SERAP) has urged the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, to immediately give seven million Nigerians who have carried out their voter registration online the time and opportunity to complete the process so that they can obtain their permanent voter cards (PVCs) and exercise their right to vote. INEC recently disclosed that out of 10,487,972 Nigerians who carried out their pre-registration online, only 3,444,378 completed the process at a physical centre. This it stated represented just 32.8 per cent of completed online registration. In the letter dated August 13, 2022, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said the right to vote was not merely the right to cast a ballot, but also the right to be given the time and opportunity to complete the registration process, so that the right can be meaningfully and effectively exercised. SERAP said closing the “gates on eligible Nigerians and denying them the time and opportunity to complete their registration cannot preserve trust in the electoral process.”According to the organization, denying a significant number of eligible voters the time and opportunity to complete the registration for their PVCs would impair the right to vote of those affected, deny them a voice in the 2023 elections, and lead to disparate and unfair treatment of these voters. SERAP vowed to consider appropriate legal actions to compel INEC to comply with the request in the public interest, if the recommended measures were not taken within seven days of the receipt or publication of the letter. The letter, read in part, “The failure of the applicants to complete their registration may be due to factors entirely outside of their control, especially given the welldocumented challenges faced by many Nigerians at registration centres across the country. “Unless they are given a reasonable time and opportunity to complete the registration process, and to obtain their voter cards, these eligible Nigerians will not be able to vote in the 2023 general elections. "The alleged failure of the applicants to complete their registration at INEC designated centres are not sufficiently weighty to justify their exclusion from the 2023 general elections. Any proffered justifications of saving time and cost are therefore wholly insufficient. Administrative convenience is simply not a compelling justification in light of the fundamental nature of the right to vote.”
commitment by citizens and those entrusted with leadership to advance the national agenda, regardless of challenges. Executive Director, African Centre for Leadership, Strategy and Development (CENTRE LSD), Mr Monday Osasah, said the leadership school was a flagship programme of the Leadership Institute, adding that it started in He2009.said the Centre LSD Leadership School was designed for people, who wanted to become leaders and be equipped with leadership skills for the transformation of organisation andPastorsociety.Edewor Egedegbe, Executive Director, VREI, said the centre was graduating 101 students out of 180 that enrolled for the programme. He disclosed that the school had graduated 359 students since inception in 2017, adding that 200 students had been admitted for it’s 2022/2023 Leadership Academic Session.Guest lecturer, Mr. Johnson Ikube said Nigerians must acknowledge that there were challenges confronting the nation and urged people to vote for competence and not popularity in the 2023 general election.He,however, advocated for the decentralisation of government, noting that the system would function better under a decentralised arrangement. “Leaders should move from the government of business to the government of governance. There is poverty in the land. Mankind must put an end to the war or war will put an end to mankind. We have gotten to a level, where human life has become meaningless, not only in Nigeria but in the entire world,” he said.
Gideon Arinze in Enugu
Thomas’s who don’t believe the state was part of the Odua Group. He said Lagos is a bonafide member of the investment company, adding that its board members and management have been enjoying the support of the stateThegovernment.Chairmansaid the focus of the board and management team was to engineer a turnaround for the group, even as he added that with the caliber of people managing the affairs of the company presently, it was poised to become a world-class company. He, however, requested for more support from the Lagos state government, noting that Odu'a was ready to partner and work with the state government for more business opportunities in hospitality, real estate, tourism and agriculture, especially the Imota Rice Sanwo-OluMill.in his response said the state government was willing to partner with Odu’a Investment Company to deepen the relationship among the southwestern states in agriculture, hospitality, oil and gas, tourism and other business opportunities. “We thank you very much for putting paid to doubting Thomases who are not sure whether Lagos State has been brought in as part of Odu’a Investment. Lagos State before now has been accepted as equal partner, equal shareholder with governors of the five other states and we are all equal stakeholders in the “Wegroup.thankyou very much for presenting our share certificate to us. We have enjoyed dividends a couple of times already and it goes to show that our investment is yielding the right results. Lagos State is happy that we have made that investment and we are part of a great and bigger agenda called the Odu’a Investment. “We are willing to partner with Odu’a Investment Company on our Imota Rice Mill. The Rice Mill will be commissioned in October or November depending on the timing of our guest. It is something that we all need to celebrate. That would be the biggest single rice mill in the country and it is a pride for all of “Andus. coming out of the mill itself, there are many other businesses that also can springboard; rice plantation, rice paddy and all of it can be one of the areas in which we can look out for great business opportunities in Odu’a Investment Company. There are also other areas we can collaborate on like real estate opportunities, blue economy, hospitality destinations and tourism.”
CONSULTATIONS…
2023: SERAP Urges INEC to Allow Seven Million Nigerians Complete Voter Registration
51MONDAY, AUGUST 15, 2022 • THISDAY
Lagos State Now Co-owner of Odu’a Investment Company
Udora Orizu in Abuja
While urging the people to elect the kind of leaders deserving of the country so that she could claim her rightful place in the comity of nations, Jonathan said Nigerians should ensure that only those who would foster national unity were elected to lead the country.Hiswords: “Ahead of 2023 elections, we are getting ready to be wooed and wowed at campaign grounds by various politicians seeking different offices. But these thoughts are beyond 2023. It is about Nigeria and the kind of leadership it deserves now and in the future to ensure that our country assumes its rightful place among the comity of nations.“Mycharge to Nigerians is to be circumspect in the exercise of their voting rights. We must shift away from the politics of bread and butter and ensure that we do not elect leaders that will buy our conscience today and mortgage the future of our children and grandchildren.“Weshould endeavour to elect only those that will leave legacies of unity, peace, and development,” he said, adding that those with aspirations to lead the country in all capacities should be concerned about the value of their leadership style. Jonathan stated further that every political leader should be fired by the kind of legacy he wanted to leave behind for posterity.According to him, “Those who also lead at various capacities in politics and business, be they councillors, council chairpersons, governors, lawmakers at both state and national levels as well as boardroom gurus, should be bothered about the value of their leadership style. “The essence of leadership is to drive initiatives that seek to build sustainable societies and make the lives of the people better and more meaningful. Every political leader should, in a moment of introspection, spare a thought for the legacy he or she would leave behind. “Will you be remembered as a deceitful leader, an ethnic bigot, religious fanatic or a nation builder that would leave lasting legacies for the people,” he added.
Keyamo Responds to Call for His Resignation, Says He Didn't Violate Nigerian Law
L-R: Medical Director, Bodycare Plastic Surgery Clinic and Founder, Abuja Plastics, Dr. Stanley Okoro; Resident Consultant Bodycare Plastic Surgery Clinic, Dr. Jennifer Cameron and Chief Operating Officer, Reddington Hospital, Mr. Emmanuel Matthews at the media briefing to announce the introduction of Bodycare Plastic Surgery Clinic at Reddington Hospital in Lagos during the weekend Chuks Okocha in Abuja Former President Goodluck Jonathan, has urged the Nigerian electorate to be circumspect with their votes during next year’s election and not mortgage the future of their children by voting leaders with conscience. Jonathan, who spoke while delivering a keynote address titled: ‘Lasting Legacy: Key to Nigeria’s Development Issues’, at the one-year memorial summit in honour of the late Captain Idahosa Okunbo in Abuja, Saturday, said Nigerians “must shift away from the politics of bread and butter.”
Oshiomhole, Ezekwesili, Others Extol Capt Hosa as Children Launch Foundation in His Memory Prominent Nigerians, at the weekend, shared fond memories as they recalled the legacies of one of the nation's greatest philantropists and billionaire business mogul, the late Capt Dr. Wells Idahosa Okunbo.Theevent was the maiden memorial lecture organised by the family of Okunbo at the Wells Carlton Hotels and Apartment, Asokoro, Abuja, as well as the launch of the Wells Hosa Okunbo Foundation, by his children led by the Olori Atuwatse III, wife of the Olu of Warri Kingdom. Former President Goodluck Jonathan, in his key note address, said Captain Hosa as fondly called, lived a life of philanthropy and love for the needy, adding that, one of his legacies that would Continue to endure was that he nurtured and mentored many to become responsible members of theJonathansociety. who was the keynote speaker addressed the theme: "Lasting Legacy: The key to Nigeria's Development Issues?” admonished the citizens not to give despite the hydra-headed challenges bedeviling country , but use the opportunity provided by the current political cycle to take decisions that would help renew hope, restore what had been lost and rebuild the country. Jonathan noted that the essence of leadership was to drive initiatives that seek to build Oshiomhole, Ezekwesili, others extol Capt Hosa as children launch Foundation in his memory
sustainable societies and make the lives of the people better and more meaningful, and every political leader should, in a moment of introspection, spare a thought for the legacy he or she would leave"Captainbehind.lived a life of philanthropy. Although he achieved so much as a businessman and invested in big enterprises, he will perhaps be remembered more for his large heart, spirit of philanthropy and love for the needy,” he said. A former Minister of Education, Dr. Obiageli Ezekwesili urged politicians to develop the education sector, which she lamented would continue to elude Nigeria and other African countries if the political class did not invest in education.Shesaid, “When you look at the parameters and issues in our country, especially, the current data, it shows that the continent is in crisis and it has to deal with some of the things that the former President Jonathan said about society, It’s that nine out of every 10 Africans do not have the literacy and numeracy skills required of children of their age in other parts of the world. In his remarks, former governor of Edo State, Adams Oshiomhole, said Jonathan left a lasting legacy that set a pedestal for his“Partsuccessors.ofyour legacy was when you launched the almajiri school and your thought was that no Nigerian child should be left on the street and also appropriated special funds,”s he said. Olori Atuwase III described her father as a visionary leader, who believed in birthing initiatives that would outlive him, while impacting lives within the nation and beyond.
Jonathan: Don’t Mortgage Your Children's Future, Vote Good Leaders
The Minister of State for Labour and Employment, Mr. Festus Keyamo has defended his continued stay in office despite accepting to serve as campaign spokesman for the presidential candidate of the All Progressives Congress (APC), Bola Tinubu, blaming the call for his resignation on the opposition. He stressed that he had not violated any section of the constitution by remaining in office as a minister. A pro-democracy Organisation, the Transition Monitoring Group (TMG) was reported to have demanded the resignation of Keyamo on grounds that his current assignment as campaign spokesman was going to conflict with his duties as minister. The Chairman of TMG, Awwal Ibrahim Rafsanjani, had said Keyamo's resignation would afford him better opportunity to do his campaigning."TheTransition Monitoring Group is urging him (Keyamo) to step aside and focus on his new work so that there won’t be too much conflict of interest and there will be productivity in the work he is doing as “Combiningspokesperson.theseroles is completely a conflict of interest. He is to speak for the general public as a minister but now, his job is for his presidential candidate," he said. However, in a statement yesterday, in response to THISDAY's request, Keyamo said as a member of the APC he was entitled to participate in party activities. He said as far the Electoral Act was concerned, serving in such dual capacities does not violate theHerule.said: "My attention has been drawn to a statement by a certain CSO alleging a conflict of interest between my role as a campaign spokesperson and as Minister of the Federal Republic of "WhatNigeriadoes the law say? Section 84 of the Electoral Act clearly states that political appointees are to resign if they are to contest for any party position or any public office. No mention was made of ad hoc appointments for party activities. So, strictly speaking, no law is being violated here. "Therefore the so-called position of these people are untenable, ill-informed and consequently rejected. They are jittery about the stout defence of our party and government we are putting up and the unblemished projection of Asiwaju Bola Ahmed Tinubu (our candidate) that we are making. "I am sorry to disappoint them, but I will serve my country and I will serve my party," he said. Keyamo attributed the call for his exit as minister to people he said were working in alliance with the opposition parties, but disguising as CSOs. "We know them. I cannot recall a single statement like this from these people throughout the PDP era when PDP Ministers were fully involved in presidential campaign activities."Forinstance in 2015, my brother, Special Duties Minister, Kabiru Turaki, served as the Deputy Director-General (North) of the PDP/Jonathan Campaign Council. These characters kept mum. So, you can be sure that this is PDP speaking through one of their NGOs."Secondly, I am a full member of my party, the APC, and I am entitled to participate in Party activities. My dues to my party is deducted every month from my meagre salary and sent to the party. Being a Director in a Campaign Council is like every other party activity. They want to deny me my fundamental human right to freedom of association because I am a "Thirdly,minister.there is no conflict of interests. I fail to see any. Am I using public resources to campaign? Not at all. We have an APC campaign office and I have my well-furnished private chambers, better equipped than my Minister’s Office.” Speaking about his office, Keyamo said he has not allowed his new assignment affect his work as "ThisMinister.isnow on record and my Permanent Secretary can attest to this. I grant interviews after my day’s work or at weekends or at break time. Fourthly, Campaign Directors are volunteers; at least I am.“We are not paid a single salary or allowance for our work, so the allegation of double privilege is incorrect," he said.
Onyebuchi Ezigbo in Abuja
NEWS
“My father was keen on investing his resources in people and ideas, many of which have grown into institutions. He left an indelible mark in his sphere of influence, starting with us his children, and in his hometown Benin City community, with his Alma Mata from past learning institutions, and I dare say in his country and beyond,” she said. She, however, announced the launch of the Wells Hosa Okunbo Foundation, which she said was an expression of her father’s undying legacy, and would focus on Education, Entrepreneurship, and Youth Empowerment –established primarily to consolidate and continue his passionate commitment to raising world changers in the core areas of education, entrepreneurship and youth empowerment in Nigeria. “Through this outfit, we are determined to revolutionise the face of industrialisation in Africa and promote indigenous innovations that can boldly make a mark in the global space. The necessary systems for deployment are currently evolving and in the near future, we will be opening up opportunities for these expressions through access to funding,” she said. Scion of Captain Hosa, Osahon Okunbo, in his welcome remarks, thanked the guests for the show of love and added that they decided to hold the lecture to uphold the value of their departed father. The lecture also featured panel discussants like the founder, Sahara Energy, Tonye cole; Slum to School initiator, Otta orondaam and Vice President, Benson Idahosa University, Bishop Feb, anchored by founder and Managing Partner, Message Capital, Mrs Adesuwa Okunbo Rhodes.
INTRODUCTION OF BODYCARE PLASTIC SURGERY CLINIC…
52 THISDAY • MONDAY, AUGUST 15, 2022
Emmanuel Ugwu-Nwogo in Umuahia
Has No Senatorial Candidates in Yobe North, Akwa Ibom North-west
Victor Ogunje in Ado Ekiti
The Jigawa State Government yesterday confirmed the death of 50persons with many displaced as flood ravages parts of the state. The Executive Secretary of the state Emergency Management Agency (SEMA), Mr Sani Yusuf, told reporters that the flood also damaged thousands of houses in the Yusufstate.stated that the situation had forced many residents in the state to take refuge in other places including government buildings and schools. Some of the victims are from Balangu village where no fewer than 237 houses were submerged by water and destroyed with four people dead. “We have so many displaced persons about 11 temporary camps. In Balangu alone 237 houses have been damaged and the occupants are now living in a temporary camp”. “Four people also died in that same village, after the six in Kafin Hausa. So, when you go around the state we lost about 50 people to the flood now. Even yesterday(Saturday), seven people from the same family died,” he said.
The governorship candidate of the All Progressives Congress (APC ) for Abia State, Chief Ikechi Emenike, has vowed that his party’s journey to Abia Government House would be successfully completed in 2023. He gave the assurance yesterday when he unveiled the Director General of his 2023 governorship campaign, Chief Uche Ogboso, during a meeting at Umuaha involving the APC state leadership and the House of Assembly candidates of the “Thereparty.isno going back until we reach Government House and rescue this state from perpetrators of bad governance,” he said. He promised that he would run a robust and issue-based campaign devoid of rancour and character assassination. The APC governorship candidate said that his choice of Chief Ogboso as campaign DG was based on his track record as “a veteran and decent politician” as well as the need to give every part of Abia a sense of belonging in the rescue mission. The DG, who is from Ohafia in Abia North zone, has been actively involved in politics for over two decades. “He (Ogboso) is somebody we know will add value to our campaigns and steer our ship successfully to Government House,” he said.
James Sowole in Abeokuta
The Independent National Electoral Commission (INEC) yesterday said the All Progressives Congress (APC) has no candidates for Yobe North and Akwa Ibom North-west Senatorial Districts. Senate President Ahmed Lawan, who represents Yobe North is battling to get the party’s ticket after losing the APC presidential primary, while a former Akwa Ibom governor Godswill Akpabio is also in a tussle to get the ruling party’s ticket to run for the Akwa Ibom North-west Senatorial seat. Akpabio also vied for the APC presidential race. However, INEC’s National Commissioner, Festus Okoye said the electoral body does not recognise any APC candidate for both senatorial zones. Okoye, who spoke during an interview on Channels Television’s Sunday Politics, said: “In these two constituencies, two names were forwarded and the commission made a determination that the names were not persons who emerged from a validly conducted party primaries and we did not publish their names. That is where we are.” “Their (Lawan and Akpabio) names were uploaded by the APC to our candidates’ nomination portal but the commission made a determination that they were not the candidates that emerged from valid party primaries,” he added. “The commission did not publish their names and their particulars in their constituencies. So, the implication is that as of today, the APC does not have candidates in those two constituencies.”Lastweek, INEC denied doctoring and backdating documents to accommodate the nominations of Lawan and Akpabio as senatorial candidates for the 2023 general elections. “The Forms of the two personalities in question were not published by the Commission,” INEC“Thesaid.decision of the Commission triggered legal action which is still ongoing.
Yinka Kolawole in Osogbo
The Governor-elect of Osun State, Senator Ademola Adeleke at the weekend disclosed that the case filled by the All Progressives Congress (APC) challenging his victory in the July 16 election is dead on arrival and a mere waste of Accordingtime.to Adeleke, the people of Osun state have spoken and no amount of court cases can overturn his election as governor. Adeleke, while speaking at Ijebu-Jesa, headquarters of Oriade local government area of the state, where a former Commissioner for Finance under the administration of Rauf Aregbesola, Dr. Wale Bolorunduro officially decamped to the PDP, said his major focus is how to move Osun forward, promising a massive impact in his first 100 days in office. “The whole world knew that the election was free and fair. APC are just wasting there time. They have the right to go to court but I can tell you, it is dead on arrival. “Osun people who have voted massively for us should keep calm and worry not. This time around, the people of Osun have spoken and it is the will of God. “The only thing I’m concerned with now is how to make Osun great and I’m promising that in my first 100 days in office, Osun State will witness a massive change”. He promised. While speaking on the defection, Bolorunduro said he left APC because the party is full of deceit and lack ethos of Obafemi Awolowo.
The public health expert said that the capacity and structure used for COVID-19 should not be discarded, noting that it had helped in case detection of the virus. “We have laboratory facility to detect this virus and this is as a result of the structure put in place during COVID-19. This structures should be highly maintained,” he said.Omilabu called for more enlightenment to educate people on monkeypox, adding that health workers should be well protected.
Global Citizen Festival to Hold in Accra, New York Michael Olugbode in Beijing China has called on developing countries in the world to stand up against Speakingbullies.atthe reception and opening ceremony of China International Press Communication Centre (CIPCC) 2022 for over 70 journalists in Beijing, the Chinese capital, invited by the China Public Diplomacy Association (CPDA) to familiarise with China, the Chinese Assistant Foreign Minister, Hua Chunying, lamented that recent visit of the United States Speaker, Nancy Pelosi, is an act of bully from America.Chunying noted that: “China’s development achievements over the past decades have been most impressive. To quote a poem, we have ‘been to the heavens for the moon and to the deep sea for the turtles’. Two female astronauts have traveled to space, a real-life version of Chang’e, a fabled Chinese goddess, flying to the moon. The high-speed rail network has shortened many long-distance travels across the nation into one-day trips. I doubt if the finest novelist could imagine 10 or even five years ago the transformation taking place in China today.” She added: “Behind all these incredible achievements is an incredible political party, the Chinese Communist Party (CPC). Last year, we celebrated the centenary of the CPC.”
2023: Emenike Appoints Campaign DG, Hopeful of Becoming Abia Gov BOOSTING EMPLOYMENT…
INEC:JigawaAPC
Monkeypox: Virologist Urges FG to Acquire Smallpox Vaccines
As religion continues to dominate the polity in the countdown to the 2023 presidential race, the Nigeria Youth Congress (NYC), has appealed to youth not to be influenced by such sentiment in choosing the best leaders that would salvage Nigeria out of its current economic and sociopolitical doldrums. The NYC said that the youth must think deeply and ruminate on who is best suited for leadership positions at all levels, irrespective of their religious inclinations so that the country would have strong leadership that could deliver. The Chairman of Ekiti Chapter of NYC, Ambassador Tosin Adesuyi, said this in Ado Ekiti on Saturday at a programme that commemorated the 2022 International Youth Day. Adesuyi lamented how youth in Nigeria were being sidelined in governance and other areas of human endeavour. He appealed to the Nigerian productive population to allow intergenerational partnership that could benefit their lives rather than seeing older people at leadership positions as enemies and rivals.
MONDAY AUGUST 15, 2022 THISDAY 53 NEWS
A Professor of Virology, Sunday Omilabu, has urged the federal government to acquire smallpox vaccines in the fight against monkeypox.Omilabu, who spoke in an interview aired on ARISE News Channel yesterday said research had shown that the smallpox vaccine was effective against the monkeypox virus. He said that monkeypox, which is a zonotic disease is a virus transferred from animals to Hehumans.said:“Government should negotiate for smallpox vaccine as other European countries are doing to prevent more cases of the virus. “People above 60 years are lucky because they got a shot of the smallpox vaccine some time ago but people who are presently below 50 years didn’t get the shot.”
2023: Resist Religious Sentiment, NYC Tells Youth Ibrahim Shuaibu in Kano
Oyetola’s Case a Waste of Time, Dead on Arrival, Says Adeleke
The reigning beauty queen of the Moshood Abiola Polytechnic (MAPOLY), Abeokuta, Ogun State, Miss Happiness Odeh, has been reportedly killed by herOdeh,abductors.who was a Mass Communication student of MAPOLY, won the Miss MAPOLY beauty contest on August 3, 2022. Her death was announced by the leadership of the Moshood Abiola Polytechnic Students Union (MAPSU). She was reported to have been abducted along Iperu Road on her way to visiting a movie location at Ipara, Ode-Remo, with the consent of her parents. Contrary to the rumours flying around, her death has not been related to her status as the new Miss“WeMAPOLY.commiserate with her family, friends and colleagues. May Almighty God grant us all the fortitude to bear this painful loss. Continue to rest in the bosom of the Lord,” the statement read. Speaking with journalists, the President of MAPSU said that the murderers took away the victim’s phone, adding that the police have commenced investigations that would get the assailants arrested. Ajani informed that the body of the slain student had been deposited at the morgue of the Olabisi Onabanjo University Teaching Hospital, Sagamu.
Abductors Kill MAPOLY Beauty Queen in Ogun
Flood Kills 50, DisplacesScores in
China Calls on Developing Countries to Stand up to Bullies
L-R: Managing Director, Synced Integrated Services Limited, Mr. Donald George; Managing Director, Jagun Associates and first Fellow of International Facility Management Association (IFMA) in Africa, Mr. Stephen Jagun; President, IFMA, Nigeria Chapter, Mr. Segun Adebayo; Executive Secretary, Lagos State Technical and Vocational Education Board (LASTVEB), Ms. Moronke Azeez, and Managing Director, Alphamead Facilities Limited, Mr. Wole Olufore, at the maiden edition of employment engagement with the graduating students of Government Technical Schools in Lagos State recently Adeline Okoronkwo International advocacy organisation Global Citizen yesterday announced the lineups for the 10th anniversary Global Citizen Festival, taking place in New York City’s Central Park, presented by Citi and Cisco, and Black Star Square in Accra, Ghana, presented by Harith General Partners, on Saturday, 24th September 2022. Since it began lighting up Central Park’s Great Lawn in 2012, the Global Citizen Festival has become the world’s longestrunning global campaign calling for an end to extreme poverty that unites millions of voices, amplified by the world’s biggest artists, demanding world leaders take action NOW. The 2022 Global Citizen Festival will call on world leaders at the United Nations General Assembly and ahead of the G20 and COP27 in November to step up and invest $600 million into the future of women and girls, close the annual $10 billion climate financing shortfall, deliver $500 million to help African farmers respond to the global food crisis, and provide urgent relief from crushing debts to End Extreme Poverty NOW.
Segun James As part of a bid to end open defecation in Lagos State by 2025 as stipulated by the government, the Rotary Club of Omole Golden in Lagos has said it has embarked on advocacy and fundraising to provide public toilets at major markets and parks in the state. The club revealed this at the investiture and fundraising ceremony of Rotarian Ganiu Lawal as the 19th president of the Rotary Club of Omole Golden held in Ikeja, Lagos State. In his speech, Lawal said the club has also embarked on the rehabilitation of a block of four classrooms with collapsible demarcation to serve as classrooms and an examination hall at Ajuwon Senior High School, saying it would cost over N10 million to complete the project. According to him, the club decided to take up the challenge of providing the facilities, since it was becoming increasingly obvious that the existing ones could no longer enhance teaching and learning in the school, as they were in deplorable conditions. He said: “We want wellmeaning individuals, and corporate organisations to support our proposed project for 2022-2023 Rotary year, we are equipping the Rotary Club of Omole Golden Neonatal Building at Ifako Ijaiye General Hospital for N24,755,000, and the provision of ultra-modern public toilets at major markets and motor parks at N8,700, 000. “Also, the provision of mathematics laboratory at Oke-Ira Junior Grammar School, Ogba, at N500,000, and the promotion of menstrual hygiene and procurement of 3,000 dignity kits for girls in three public schools at N2,400,000.’’
Daji Sani inYola
Rotary Club to Tackle Open Defecation in Lagos
Death of 50 Infants: Rivers APC Vows to Invest Massively in Health Sector
Adibe Emenyonu in Benin City
One Injured as Soldiers, Police Clash in Osun
Michael Olugbode in Abuja Ghana High Commission in Nigeria has asked Nigerians to leave Ghanaian President Nana Addo Dankwa Akufo-Addo out of Nigeria’s internal affairs and politics. The High Commission in a statement yesterday insisted that at no time did the Ghanaian president advised the Presidential Candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu to excuse himself from his ambition to rule Nigeria and rather support Peter Obi of Labour Party (LP)on health ground. The statement with title, “Fake News Alert: President of Ghana Disowns Post Asking Tinubu to Give Peter Obi a Chance,” read that: “The attention of the Ghana High Commission in Abuja has been drawn to an online news publication alleging that the President of the Republic of Ghana, His Excellency Nana Addo Dankwa Akufo-Addo, has written to the 2023 Presidential candidate of the All-Progressives Congress (APC), Mr. Asiwaju Bola Tinibu, to “give Peter Obi a chance and seek treatment for his health.”
‘Akufo-Addo Never Wrote Tinubu to Suspend Presidential Ambition for Obi’
Ekiti PDP Stakeholders Weaken Fayose’sInfluence, Adopt Collegiate Leadership DT513B2 conveying football players of Itugbe Kings Club, Warri Delta state and whisked them into the bush. “On receipt of the information, the Divisional Police Officer immediately mobilised his team of police operatives in collaboration with the military, local vigilantes and tactical team from Delta State Police Command at the state boundary and swung into action. “The combined team embarked on rigorous bush combing which lasted for several hours resulting in the rescue of 32 of the victims unhurt. While they were being profiled to ensure that all were rescued, it was discovered that five were still missing. Intense bush combing is ongoing to rescue the other five victims unhurt “Earlier the hoodlums had attacked the two occupants of one Toyota Corolla car with registration number EDL642DL, travelling from Bayelsa to Agbor, one of the occupants, Ibegu Daguapu ‘M’ was shot in his right shoulder. The victim is receiving treatment at the medical facility,” the statement said.
Edo, Delta Police, Military, VigilanceGroup Rescue 34 KidnappedVictims
According to that statement, the rescue mission was made possible following credible information received from members of the public that at about 18:06hrs of 12/08/2022 hoodlums suspected to be kidnappers emerged from the bush along the Agbor/ Uronigbe/ Obiaruku Expressway and kidnapped occupants of a bus travelling from Agbor to Warri, with registration number
Victor Ogunje in Ado Ekiti In a bid to strengthen the party and salvage it from total collapse ahead of 2023 polls, stakeholders in the Ekiti State chapter of the People’s Democratic Party have stripped former Governor Ayodele Fayose’s unilateral control over the party and adopted collegiate leadership. The stakeholders held Fayose culpable for the abysmal showing of the party in the June 18 governorship poll, where it came distant third, hinging such on the ex-governor’s alleged despotic and authoritarian rule over theThePDP.party leaders branded Fayose’s alleged totalitarian control over the party as not only stifling and asphyxiating the PDP, but said it was bizarre andThisunacceptable.waspart of the resolutions reached by the leaders at its meeting held in Ado Ekiti, on Saturday and conveyed to journalists through a communique signed by the party’s State Publicity Secretary,Raphael Adeyanju, yesterday.
Adamawa PRP Guber Candidate Unveils Running Mate
54 MONDAY AUGUST 15, 2022 THISDAY NEWSXTRA
Peace Returns to A’Ibom Unity Collegeas Mgt., Teachers Settle Rift
The Adamawa State Governorship Candidate of the People’s Redemption Party (PRP) Lt. Commodore Ibrahim Babainan (rtd), has unveiled Mrs. Rebecca Audu as his running mate during the weekend in Yola. Babainan said that the choice of his deputy was done after thorough consultations and search within and outside the state. He further revealed that she was the person that was found fit for the job due to her track records both in the civil service and politics. Babainan said that the PRP has come to stay in the state adding that for the first time ever the party has filled candidates in all the political seats of the state except one seat for Federal House of HeRepresentative.said:“Ourgreat party has filed candidates in three seats of the Senate, 25 seats for State House of Assembly and Seven out of eight seats of the Federal House of Representatives and the governorship candidate with his running mate for the 2023 general elections in Adamawa State.
Blessing Ibunge in Port Harcourt Rivers State chapter of the All Progressives Congress (APC) has vowed to invest massively in the health sector and ensure welfare of health professionals across all strata in the state, if elected in the governorship election in 2023. The party made the promise in reaction to the recent death of about 50 infants over measles outbreak in Kugbo community, Abua/Odual Local Government Area of the state. In a statement yesterday APC assures the people that its governorship candidate, Tonye Cole has the capacity to revamp the health system and ensure other positive development in the state. The party sadness on the tragedy that has resulted in the death of the number of infants, adding that it would have been a preventable incident if robust healthcare policy programme were in place. The APC, however, sympathised with the bereaved families and the Odual people over the tragic losses. “The APC in Rivers State and its governorship candidate have reacted to the mass deaths of infants in a part of the state and has thus vowed to unfold a comprehensive roadmap for the health sector in the state to tackle infant, child mortality and other health needs of the people of Rivers state.
Okon Bassey in Uyo At last, peace has returned to the Federal Science and Technical College, Uyo, Akwa Ibom State, as teachers and management settled differences that almost resulted in the breakdown of law and order in the Teachersschool.in the college had accused the management of refusal to pay Duty Tour Allowance approved by federal government to staff in Unity Schools across the nation. The teachers had also accused the management of admission racketeering, illegal levies and misappropriation of funds from IDEAS World Bank project for the school. It was gathered that the School Based Management Committee (SBMC) waded into the matter to avoid disruption of academic activities.
The Police in Edo State yesterday said they rescued 34 kidnapped victims who were abducted along the Benin-Agbor Expressway on Friday.In a statement by the Command’s Deputy Police Public Relations officer, ASP Jennifer Iwegbu, said the rescue operation which had 32 children among the rescued victims, was carried out in conjunction with the Delta State Police Command, the military and the local vigilance groups within the axis The statement read:s “The Edo State Police Command through its Uronigbe Divisional Headquarters, in Orhihonwon Local Government Area, Edo State on 13/08/2022 rescued 34 kidnapped victims, 32 of them were mostly children, along the Benin-Agbor expressway.”
One policeman was reportedly injured when some uniformed soldiers engaged with policemen in gun duel at the popular Ajegunle Spare parts market, Area, in Osogbo, the Osun State Capital Spear parts dealer, traders residents around the area scamper for safety as some soldiers and police officers clashed following a minor disagreement that degenerated into free for all. The clash, it was learnt created panic as both the soldiers and Policemen engaged in gunfire exchange for few minutes.THISDAY correspondent gathered that one police officer was allegedly injured during theThecrisis.soldiers and the police officers, it was gathered, were not in uniform when they engaged themselves in a brawl. An eyewitness account told our correspondent that the soldiers and the police officers in different vehicles refused to allow each other pass through in the Ajekunle spare part market. Sources said the policemen and the solders did refused to allow each vehicle conveying them to pass as what many described as claiming superiority over wrong driving. “Both of them did not want to reverse for the other to pass. The police officer identified himself while one of the three soldiers in the car still directed the policeman to reverse. His refusal led to fight. “The police officer called Dugbe Police station while another three military personnel emanate from nowhere to join the other Anothersoldiers.sourcewithin the market said a policeman was reportedly beaten by some soldiers to the surprise of any people that witnessed the incident.
Yinka Kolawole in Osogbo
The Access Bank DMD described the Access/VISA campaign ahead of the FIFA World Cup, Qatar 2022 as an opportunity to give back to the bank’s customers. “We want to reward our loyal customers using this Visa partnership as plank. We are extremely excited to partner Visa to bring the FIFA World Cup 2022 closer to our loyal customers. This campaign
President of the Nigeria Olympic Committee (NOC), Habu Gumel, has praised the efforts of Nigerian athletes at the Birmingham 2022 Commonwealth Games after they won 35 medals to become the number one African nation on the Commonwealth Games medal. Gumel lauded the country's athletes, coaches and support staff after the nation became the first African Nation on the medals log of the Commonwealth Games with 12 Gold, nine silver and 14 bronze medals, the highest in Nigeria's 15 years appearances at the Games was in 1994 at the Victoria, Canada edition with 37 medals(11-13-13) and Glasgow 2014(11-11-14). '
is an opportunity for the bank to give back to our loyal cardholders whilst strengthening our relationship withHeVisa.”stressed that several cus tomers of the bank will have the opportunities to win tickets for an all-expense-paid trip to Qatar to watch FIFA World Cup match live and a chance to win other fabulous consolation prizes. “The participation guidelines are very simple: our customers need to perform three transactions of a minimum of N15,000 on POS or Web with their Visa cards to qualify for the all-expense paid trip for two to Qatar to watch the FIFA World Cup 2022 live.”
Ikpeba, Onazi in Attendance at Access Bank’s Road to Qatar 2022 Novelty Game
“This is the most remarkable outing in terms of gold medals which are 12. We're very proud of the efforts of the Sports Minister, Sunday Dare, who worked tirelessly with the NOC to ensure the best welfare packages for the athletes'', Gumel, a member of International Olympic Committee revealed yesterday.
...Conte, Tuchel Bustup Ends Fiery Draw at Stamford Bridge
Awoniyi Snatches MemorableWin for Nottingham Forest
Acting General Manager, Promise Nwachukwu, in the release stressed that no club should be given undue advantage in the Aiteo FA Cup race, especially now that the competition is in its crucial stage.
Awoniyi spent six years as a Liverpool player without making a single first-team appearance, before moving to Union Berlin in 2021 and then, a year later, to Forest.
Football Fans Win Big at BetKing EPL Watch Party
Once order had been restored, Chelsea were back in front as James scored from Raheem Sterling's pass, the fired up Tuchel celebrating by sprinting past Conte along the touch in sheer Chelseaelation.thought they had made it six points from two games until Kane headed in Ivan Perisic's corner - the antipathy not ending there as a handshake between Tuchel and Conte developed into another bust-up between the pair which ended with them both getting their marching orders. to enjoy the vibe of the World Cup. I hope that Nigeria will qualify for the next one after Qatar 2022.”
Heartland Petition Sports Minister, Want NFF to Confirm Club as S’finalists
MONDAY, THISDAY 55
The campaign, which is running from July to December 2022, will reward over 500 customers across Nigeria.Onthe novelty match, Etuokwu expressed his excitement with the quality of the game between bank’s Northern Retail and the Southern Directorate.
The club stressed that the spon sors, Fans, Stakeholders and the Nigerian football community are watching to see how the oldest football cup competition in the country is being organised. Recall that clubs in the Nigerian topflight staged a protest owing to the undemocratic manner in which Kwara United were unduly rewarded with a continental ticket at the expense of the winners of the AITEO Cup.
MONDAYSPORTS Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com08111813083SMSONLY
Harry Kane's equaliser six minutes into stoppage time earned Tottenham a dramatic draw as a fiery London derby at Stamford Bridge ended in an angry confrontation between Thomas Tuchel and Antonio Conte that resulted in red cards for both managers.Tempers were running high throughout as Chelsea twice led before Kane's glancing header seconds from the end gave Spurs a point.Chelsea dominated the first half and fully deserved the 19th minute lead they earned when their two summer signings combined, Kalidou Koulibaly flashing home a powerful volley from Marc Cucurella's corner. Spurs struggled to make any sort of impression, Kane missing their best opportunity, but drew level after 68 minutes when Pierre-Emile Hojbjerg's shot beat EdouardChelseaMendy.werefurious that referee Anthony Taylor had failed to penalise Rodrigo Bentancur for a challenge on Kai Havertz, the ensuing melee leading to face-to-face fury between the two managers which ended with both Chelsea boss Tuchel and Spurs counterpart Conte receiving yellow cards.
Duro Ikhazuagbe Super Eagles forward, Taiwo Awoniyi, secured a famous 1-0 win for Nottingham Forest yesterday as they beat West Ham in their first English Premier League football in 23 years at home. Awoniyi who switched to Forest from Bundesliga’s Union Berlin for club record £17million transfer this summer was in the right place at the right time. He applied the first-time finish instinct after Jesse Lingard's effort had been deflected into his path off Hammers defender BenTheJohnson.home fans who were enjoying their first game in the topflight in over two decades greeted the goal with a frenzy. It was an acknowledgement of their summer import from Germany was a goodAwoniyi’sbuy. name has now gone into Forest folklore along with all the other greats associated with the two-time European Cup winners. The Sunday afternoon was not all about the Nigerian international because without the heroics of the on-loan Manchester United’s safe hands Dean Henderson, Forest's valuable three points would have beenHendersonimpossible.denied Declan Rice with a second-half penalty save amongst several other heroics of the day. He also produced a superb save at the start of the second half when Soucek was first to the loose ball after Pablo Fornals' strike bounced off the bar. Forest who responded to the warm reception by their fans tore into their opponents at a furious pace from the referee’s kick off. Moussa Niakhate and Awoniyi both threatened with headers, while Neco Williams drew a decent save from Lukasz Fabianski, who also had to palm away a goal-bound header from team-mate Soucek. The backing kept Forest going on a blisteringly hot day - and the reward came in first-half stoppage time goal by the Nigerian.
final matches billed for August 20. “The only way the NFF would reassure us that they are not up to anything sinister is to make it clear that Heartland have qualified to theHeartland’ssemifinal.”
In celebration of the start of the 2022 European Premier League (EPL) season, leading sports betting and entertainment company, BetKing hosted watch parties across the country for the first match of the season. The grand event brought Kings, Kingmakers and football enthusiasts together at bars and lounges in states within Nigeria. The biggest watch party held at Wave Beach Club, Lagos which had captivating performances from notable superstars including Niniola, Wande Coal, Dr. Sid, DJ Therapy, and DJ Big N. In addition to a private viewing of the game, which was between Arsenal and Crystal Palace, guests had opportunities to win Smartphones, Smart TVs, Football Jerseys. Two lucky winners also won an all-expense paid trip to the UK to watch an EPL match live. “The passion for football is one of the things that unities Nigerians and we are very excited to kick off the new season with our customers and partners. Our goal was to create an opportunity and environment for our customers to experience the essence of the brand in person and we did just that as guests had a taste of ‘that BetKing feeling’. We have very exciting activations and offers with this new football season and the upcoming World Cup, turning the thrill of a play into a real win. With so many initiatives planned, we look forward to strengthening our bond with our customers in the coming period.”, said Adim Isiakpona, Chief Operating Officer for BetKing Nigeria. The event represented the shared love of football by Nigerians. “In one way, it is an indication of how much sport brings people together. We live in a time where digitalization is at the forefront in life and sitting down together and watching football in a tournament like this really speaks to community building and bringing the feeling of togetherness and unity.” Adim added.
Gumel’s Plaudits forTeam Nigeria’s Feat in Birmingham
Taiwo Awoniyi... scored Nottingham Forest’s lone winner against West Ham at home yesterday Chelsea’s Thomas Tuchel (left) and Tottenham Hotspur’s Antonio Conte being separated after their bust-up following Harry Kane’s equalising goal...yesterday
Deputy Managing Director of Access Bank, Victor Etuokwu, stressed at the weekend that the Super Eagles would be missed at the FIFA World Cup holding between November 18 and December 22 in Qatar. Speaking at the novelty match between Access Bank North Retail and South Directorate with former African Footballer of the Year Victor Ikpeba and former Super Eagles player, Ogenyi Onazi present at the Upbeat Centre in Lekki last Friday, Etuokwu stressed that it would have been wonderful if the three-time African champions had qualified for Qatar 2022. “It would have been wonderful if Super Eagles had qualified for the World Cup in Qatar. The World Cup is a spectacle. However, wether we are there or not, it will still be fun. Wether you watch it on television or that you are live at the stadium, the atmosphere is electrifying. It is something you cannot describe. So, even as Nigeria is not there, it is still worth attending. We are still going AITEO CUP PREMIER LEAGUE
Heartland FC of Owerri have taken their case to Sports Minister, Sunday Dare, with regards to the Aiteo Cup crisis. The club in a statement yesterday said they want the sports minister to wade in and ensure that they are not unjustly made to go and replay the quarterfinal match against Katsina United which they claimed to have won on field of play. The NFF had after its Abuja meeting last week surprisingly inserted a clause in which it said Heartland and Katsina would be compensated with N5million should they chose to replay, a clause which Heartland totally rejected. The club said the only way the NFF would clear any doubt of foul play is to make an unambiguous statement confirming that Heartland are through to the semi final while awaiting the other three quarter
warfare labs from where it accidentally escaped into the general population. My friends and I were angry with HIV; why did it arrive during our time and poured sand into our gari? Early this century, just as we were getting a handle on HIV, came the first reports of bird flu outbreak. Where rinderpest and Mad Cow scared us from eating beef, bird flu scared everyone from eating chicken. Chicken by the thousands were culled in any Nigerian farm where bird flu was found. Government was supposed to pay compensation to the farmers but many of them came up empty handed. Soon afterwards we heard about the outbreak of SARS [Severe Acute Respiratory Syndrome] in Asia. We saw gruesome pictures on television of thousands of chicken being culled in Hong Kong and Thailand. Early last decade, we had the Ebola pandemic. There had been small scale Ebola outbreaks in Uganda and Congo over the years, which were easily contained. The great pandemic that erupted in Guinea in December 2013 soon created the biggest international health scare since HIV. At a point it looked as if Ebola would wipe out the populations of Liberia, Sierra Leone and Guinea. In Nigeria, Ebola created a national hero in Dr. Adadevoh who tried to confine the man who brought Ebola to Nigeria. President Goodluck Jonathan called him “that crazy man Sawyer.” Ebola caused the biggest national madness in Nigeria when, one frenzied night, millions of Nigerians woke up at night and took a saltwater bath, based on the say-so of a social media chat. It also earned us an unusual accolade.
On the day that WHO certified Nigeria as Ebola free, CNN said Ebola was contained here because “Nigeria has a very good health care system.” When I heard that I said to myself, “Then why is everybody going to Egypt, India and Dubai for treatment?”
Minister of Health, Osagie Ehanire Game Reserve that spread rinderpest to cattle herds. While the rinderpest scare lasted, everyone in Nigeria was afraid of eating beef. President Shehu Shagari’s Federal Government, together with state governments, scrambled to do a mass inoculation of cattle. Land Rovers with inoculation teams were seen roaming the countryside in search of cattle herds. We heard from elders at the time that the old Native Authorities in Northern Nigeria were always well prepared for rinderpest outbreaks. That was because, in those pre-oil boom days, the cattle tax jangali was one of the most important revenue sources for the Regional Government and Native Authorities. However, in his budget speech on January 1, 1974, General Yakubu Gowon abolished jangali, perhaps because OPEC quadrupled crude oil prices in 1973 and the Federal Treasury was awash in money. With the abolishing of jangali, state governments and local authorities no longer cared much about cattle diseases, cattle routes or grazing reserves, leading directly to the problems ofOnlytoday.ayear after the rinderpest outbreak, our newspapers exploded with stories about the outbreak of a genital disease called Herpes. Allegations at the time were that it started from university female hostels. Before Herpes, the most feared Sexually Transmitted Disease was gonorrhoea. Students called it ‘GC’ after its causative germ, gonococcus or ‘VD’ for venereal disease. In those days a lot of students got gonorrhoea, which caused great pain during urination. Luckily, the hospitals had a very effective treatment for it in the form of ampicillin injection, which made it possible to urinate within anInhour.1987, we suddenly heard about the outbreak in Europe of Bovine Spongiform Encephalopathy [BSE], popularly called Mad Cow disease. Though it was not reported here, we were all very apprehensive because one Nigerian newspaper carried the screaming headline that Nigerian businessmen had rounded up carcasses of British cows destroyed due to Mad Cow and had shipped them toWorstNigeria.affected by Mad Cow was Britain. Many countries of continental Europe banned imports of British beef. There was an incident in the early 1990s when German Chancellor Helmut Kohl visited London. British Prime Minister John Major, who insisted that Mad Cow had been contained, served British beef at a dinner he hosted in Kohl’s honour. The German Chancellor jovially ate the beef, which caused an uproar in Germany. The Economist magazine then pointed out in an editorial that Mad Cow disease had a ten years’ incubation period and since Kohl was nearly 70, it didn’t really matter.Themother of all epidemics, HIV/ AIDS, was sprung on the human race in the 1980s. Human Immunodeficiency Virus was first identified in a French lab in 1981 but the scare reached a crescendo in the mid-1980s. At first HIV/AIDS was thought to affect only homosexuals and heroin addicts that shared needles. Its association with sexual transmission soon created a huge social stigma around HIV. Government was urging everyone to go for a test but what was the point, since doctors said HIV had no cure? A nasty international argument also erupted when Western medical authorities claimed that HIV originated in Africa from Simian Immunodeficiency Virus [SIV] found in apes. African nationalists, aided by the world’s Communists, countered that HIV emanated from Western biochemical
MAHMUDJEGA VIEW FROM THE GALLERY
Just when we were celebrating the end of Ebola, Lassa fever returned with vengeance. It was first identified in 1969 when the virus killed some missionaries in Lassa town in Borno State. We were very scared because the virus that causes this haemorrhagic fever is carried around by rats. Which house is there in Nigeria that has no rats? Before we could get a grip on Lassa fever, we heard about the outbreak in Latin America of the Zika virus, which causes babies to be born with small heads [microcephaly]. Zika is ferried around by mosquito, which is a thousand times more common than rats. And then two years ago, we had the great COVID 19 pandemic, which grounded the whole world. Just as we are clicking glasses that COVID is mostly gone, we now hear of monkey pox and Marburg. Shu’aibu Tsamaye was right. In the midst of one, here comes another.
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MISSILE Gov Abiodun to Amosun “I will not be distracted by any person or persons who have a problem with self-delusion. I will not be distracted by any person who does not appreciate that Ogun State is not anybody’s father’s inheritance; we are all stakeholders in this commonwealth called Ogun State. I am not going to join issues with anyone that wants to play God. I will leave them to God...”
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It was supposed to be an internal memo from University of Abuja Teaching Hospital’s Public Relations Unit, dated August 12. In these days when every document public or private leaks like a sieve, it soon found its way into the social media. It said the hospital’s management wanted to inform all Heads of Department “of an outbreak of Marburg disease and upsurge in COVID 19 infection.” It told them to “ensure adequate surveillance and hygiene by observing all protocols of prevention.” A day earlier, there was this story on the wires of the World Health Organisation [WHO] saying a group of global experts had agreed on new names for monkey pox virus variants, the latest international public health scare just before Marburg. The names, WHO said, were “part of ongoing efforts to align the names of monkey pox disease, virus and variants or clades with current best practices.” New names to monkey pox variants were given in order to “avoid causing offense to any cultural, social, national, regional, professional or ethnic groups” so as to “minimize any negative impact on trade, travel, tourism or animal welfare.”
In the Midst of One…
– Ogun State Governor, Dapo Abiodun, in war of words with his predecessor.
Thank you, WHO. But minimising impact on tourism is not my main concern right now. Your statement, quickly followed by the leaked Abuja Teaching Hospital circular, reminded me of Shu’aibu Tsamaye, a dishevelled local musician who used to go from house to house in Sokoto in the 1970s singing his popular tunes from drug addiction to Udoji salary bonanza. One day in 1974, Shu’aibu arrived at our house and sang a new song. It was titled Ana wata ga wata ta samu, roughly translated as ‘we are still grappling with one problem and here comes another.’ Before he began singing, Shu’aibu provided a short explanation. He said, “Men’s manhoods are being stolen in this country. In the midst of that, some people have just been caught selling donkey meat to unsuspecting customers. That is the reason for this song.” Doctors, is there no end to public health scares, one coming hot on the heels of another? In 1971 this country was turned upside down by a great cholera epidemic that claimed thousands of lives. People collapsed and died within minutes from vomiting and diarrhoea. Returning from primary school one day, I saw my cousin Bajini eating sugarcane near the market square. Before I got home, a man overtook me on a hired bicycle and told my grandfather that Bajini had just died from vomiting and stooling, tell-tale signs of cholera. In late 1982, Nigeria was again turned upside down by an outbreak of the cattle disease rinderpest. Whole cattle herds were being infected with the viral disease. Newspaper stories claimed at the time that it was buffaloes in the Yankari
