MONDAY 16TH AUGUST 2021 by THISDAY Newspapers Ltd

Otedola Recalls IBB's Message to Jonathan

'Tell Him to Sit on the President’s Chair' Salutes ex-military president on his 80th birthday

Obinna Chima Billionaire businessman, Femi

Otedola, has recalled the role played by former Military President, General Ibrahim Badamosi

Babangida, in the political logjam caused by the prolonged sickness of the late president Umaru Musa

Yar’Adua in 2010, when he asked former president Goodluck Jonathan to assert himself at their next Federal

Executive Council (FEC) meeting by sitting on the president’s seat. With Yar’Adua failing to

formally transfer power to his deputy, Jonathan, when he was Continued on page 11

Zulum: We’re in ‘Catch-22 Situation’ With Boko Haram’s Surrender...Page 8 Monday 16 August, 2021 Vol 26. No 9625. Price: N250

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As Kabul Falls, Buhari Says Africa is New Frontline of Global Militancy We’ll defeat them one highway, one rail link, one job at a time, president boasts States continent needs more than US Military aid to defeat terror Laments COVID-19 has been like oxygen for terrorism Declares building infrastructure, connecting remote regions, providing jobs will strengthen Africa’s defences Justifies rail line to Niger Republic Obinna Chima President Muhammadu Buhari has said in an article he penned in the Financial Times of London, that

with the United States pullout from Afghanistan and the subsequent fall of Kabul to the Taliban, that Africa has automatically become the new frontline of terror and

global militancy. He, stated that for Africa to defeat the growing terrorism on its soil, it would require more than

the United States military aid but the entire world coming together for its sake. Buhari, who also believed that

the outbreak of Covid-19 pandemic, had provided some form of oxygen for insurgents to sustain their hostilities globally, reiterated that,

“Africa’s fight against terror is the world’s fight.” In the article he expressed Continued on page 11

VAT Collection: FIRS Appeals Federal Court's Historic Judgement Cash-strapped FG may lose N1.5tn revenue if ruling is upheld Ndubuisi Francis and James Emejo in Abuja The Federal Inland Revenue Service (FIRS) has appealed against a judgement by a Federal High Court in Port Harcourt, the Rivers State capital, on the issue of who has the constitutional mandate to

collect Value Added Tax (VAT). In a decision seen widely to be of great historic importance, the court had last week ruled that Rivers State Government, not FIRS, should collect VAT and Personal Income Tax (PIT) in the state. Continued on page 11

Secondus: We Met a Traumatised PDP Struggling OBASANJO COMMISERATES WITH THE ABIODUNS... Ogun State Governor, Dapo Abiodun (middle) introducing his younger brother, Seye Abiodun (right) to Chief Olusegun Obasanjo when the With Opposition Life ... former President came to commiserate with the Abioduns on the transition of their patriarch, Dr Emmanuel Abiodun at Iperu... yesterday Page 10

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NEWS Citing Escalating Insecurity, Lalong Extends Curfew to 24hrs Group News Editor: Goddy Egene

Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322

IG deploys police intervention team UNIJOS suspends ongoing exams indefinitely Govs, Wase, Atiku, others condemn killings Chuks Okocha, Kingsley Nwezeh, Udora Orizu in Abuja and Seriki Adinoyi in Jos Hours after imposing a dusk to dawn curfew on three Local Government Areas of Jos North, Jos South and Bassa of Plateau State, Governor Simon Lalong has directed the imposition of a 24-hour curfew in Jos North to contain escalating security threat. The governor said, "From 2pm Sunday 15th August 2021, a 24-hour curfew will come into effect in Jos North Local Government Area. This is necessitated by security reports, which indicate rising threats to the safety of lives and properties within the Local Government." This is as the Inspector General of Police, Usman Baba, has ordered the immediate deployment of Police Intervention Team to Plateau State to carry out an on-the-spot assessment for forestall further disturbance of public peace. Also, in view of the escalating security situation in Jos, capital, the University of Jos, has announced the suspension of its ongoing examinations indefinitely. Similarly, the Nigeria Governors Forum (NGF), Deputy Speaker of the House of Representatives, Idris Wase, former Vice President Atiku Abubakar and many others have condemned the killings, describing it as both needless and mindless. Lalong, in a statement by his Director of Press, Simon Macham, urged citizens to abide by the curfew and remain indoors to allow security agencies maintain law and order and deal with those bent on causing chaos. He said the 24 hour curfew would remain in force until further notice. His words: "Sequel to the unfortunate breach of peace along Rukuba road, Jos North LGA on 14th August 2021, where a convoy of commuters was attacked leading to killing of innocent persons, I have received briefings on the situation from the relevant heads of security agencies. "The reports indicate that 23 of those attacked lost their lives while 23 persons sustained injuries and are currently receiving treatment. 26 others were rescued unhurt. So far, 20 suspects have been arrested and the security agencies are conducting investigations to get to the bottom of the matter. "Having reviewed the reports and monitored the unfolding scenario, government is concerned about the persisting tensions and reported attempts by some persons to take the laws into their hands by threatening to attack individuals and private facilities, as well as public property. "In order to avoid further deterioration of the situation and to protect lives and properties of citizens, I have directed the imposition of curfew on Jos North, Bassa and Jos South Local Governments commencing 6pm to 6am from today, 14th August 2021. The curfew shall remain in

place subject to further review by the State Security Council.” "Again, citizens are to note that the 24 hour curfew in Jos North will take effect from 2pm today 15th August 2021", the statement emphasised. THISDAY, however, gathered that rioters attacked some worshipers in churches at Faringada and Terminus axes of the city, destroying properties and causing mayhem. The IG, in a statement by the force spokesman, Frank Mba, said the squads were to ensure enhanced and coordinated response to protect the community as well as boost public confidence in the affected area(s) of the state in order to prevent further attacks as well as bring the perpetrators to justice. The team, which comprised personnel of the Police Mobile Force (PMF), Counter Terrorism Unit (CTU), Police Special Forces, amongst others, was led by the Deputy Inspector-General of Police in charge of Finance and Administration, Sanusi Lemu. Also deployed were investigators and covert operatives from the Force Criminal Investigations Department (FCID) and the Force Intelligence Bureau (FIB), who were expected to provide additional investigative, intelligence and forensic support to the state command in the ongoing investigations and rescue operations. The police chief enjoined citizens in the affected area(s) to support the security forces deployed to the hotspot by providing useful information that could lead to the arrest of other perpetrators of the crime and forestall any further attack. “The IGP, while condemning the incident, has called for calm and assured victims and relatives of the attack that the Police are working with the military, other security forces and the State Government to ensure that all perpetrators of the unfortunate incident are brought to book,” the statement added. From the University of Jos, a statement by the institution's Deputy Registrar, Information and Publication, Mr. Abdullahi Abdullahi, advised students that were resident in the hostels to remain indoors and avoid unnecessary movements. “Following the unfortunate security breach that occurred in some parts of Jos Metropolis, which has led the Plateau State Government to impose a 24hour curfew in Jos North Local Government Area, Management of the University of Jos has approved the suspension of the ongoing second semester examinations for the 2019/2020 academic session. “Consequently, all examinations earlier scheduled between Monday 16th and Saturday 21st, August, 2021 have been suspended until further notice. “All Students of the University residing in the various hostels are hereby strongly advised to remain within their hostels of residence and avoid unnecessary movements as Management has been working round the clock in close collaboration with the security agencies and the Plateau

A NEW ERA AT BAPTIST CONVENTION... L-R: Pastor Mrs. Victoria Akanji, new President of the Baptist Convention in Nigeria, Revd. Dr. Israel Akanji, the Minister of State for Health Dr. Olorunimbe Mamora and Vice President Yemi Osinbajo, SAN at the Send-Forth Church Service for Revd. Akanji at the First Baptist Church, Abuja... yesterday State Government to ensure that the lives and properties of members of the University community, especially, students are adequately protected. Students that are resident outside the campuses are also advised to remain at home during this period.” Furthermore, the university urged its staff to remain at home in compliance to the imposed 24-hour curfew. “Similarly, staff of the University are enjoined to remain at home while the 24-hour curfew remains in effect”, the statement added, urging staff and students to exercise utmost caution and comply with security directives.

NUJ, PIDAN Fault Inciting Statement by Security Agent

The Plateau State council of the Nigeria Union Journalists (NUJ) and the Plateau Initiative for Development and Advancement of the Natives (PIDAN), have condemned the unfortunate incident in the state on Saturday, where some commuters were confirmed killed with many others injured, but cautioned security agencies from further making inciting statements. The Police in a statement had alleged that the skirmishes at Rukuba road on Saturday leading to the death of 22 people were carried out by ‘Irigwe youths’ on ‘Muslim faithful’. While urging security agents to do their best to apprehend the perpetrators and bring them to justice, the Union, in a statement by its Secretary, Mr. Peter Amine, advised security agencies that in trying to discharge their responsibility, they should avoid statements

that could further polarise the society, pitting a religion or an ethnic group against the others. “It is regrettable that a statement credited to a credible security outfit named a tribe as being responsible for the attack. It is also worrisome that a religion was also identified as the victims of the attack. “Journalists on their part, must tow the path of caution, and exercise high level of professionalism in order not to worsen an already bad situation. They must avoid stories that are capable of inciting a section of the society against the other,” the Union said. On its part, PIDAN described the press statement by the Plateau State Police Command of in the wake of skirmishes as insensitive and capable of generating hatred amongst the diverse ethnic nationalities in the state in particular and Nigeria at large. PIDAN said, “We take exception to the statement credited to PPRO of the Police Command in Plateau State on the unfortunate incident at Rukuba Road, where he was reported to have said the killings and skirmishes at Rukuba road were carried out by Irigwe youths and their mourners. “Rukuba Road is cosmopolitan and we do not know how he arrived at such a conclusion at such speed, when for weeks they have not been able to unravel the killers at Miango.” PIDAN, in a statement jointly signed by its President and Secretary-General, Prof. Madaki JKA and Mr. Nanle Gujor, however, condemned the attack, urging security agents to do thorough investigation and bring perpetrators to book.

Govs, Wase, Atiku condemn Jos Killings The Nigeria Governors Forum, Deputy Speaker, House of Representatives, Idris Wase and a former Vice President, Alhaji Atiku Abubakar, have condemned in its totality, the incident that led to the loss of 23 travellers around Gada Biyu in Jos North Local Government Area of Plateau State, describing it as barbaric and tragic. The governors said the killing has all the colourations of several others like it, where locals in particular parts of the country have become inhospitable and unwelcoming to other Nigerians living in or passing through their domains. According to statement by Abdulrazaque Bello-Barkindo, Head, Media and Public Affairs, Nigeria Governors' Forum Secretariat, "These dastardly actions of Nigeria’s once peaceful locals, which have resulted in unwarranted and needless deaths diminish us all as a people and pulls our country down to the deepest recesses of the absence of civilisation. They also cause all kinds of reprisal killings and injurious interactions that do nobody any good". The governors viewed with extreme disgust, the horrible and thoughtless loss of precious lives and declare unequivocally that it must stop forthwith. They also called on the country’s security organisations to fish out all those involved and bring them forward to face the full wrath of the law to serve as a deterrent to those, who are contemplating similar action. Wase, in a statement issued by his Chief Press Secretary,

Umar Puma, said the cause of the attack must be investigated with perpetrators brought to book. While sympathising with the family of the victims, the deputy speaker called on citizens to be calm and refrain from reprisals, which could endanger the peace in the state. He also called on the people of the state to have faith in the Governor Lalong-led administration in it's quest in finding lasting solutions to the perennial crisis in the state. He commended security agencies for their prompt response to the crisis, urging them to do all it takes to ensure that those involved in the dastardly act were arrested. Atiku, in a statement by his media aide, Paul Ibe said, the report of an attack on innocent travellers on a major highway in Plateau State stood condemned, just as those too numerous to mention across the country in recent time. He commiserated with the families of the deceased for losing their dear ones and also in the gruesome and callous manner they met their untimely deaths. He acknowledged that the security outfits were doing their very best in the current circumstance to make all of Nigerians safe, but said skirmishes like this and the pain accompanying it made all felt as though enough was not being done. Atiku, therefore, said the federal government must continue to scale up security and give all moral and logistical support for security operatives to continue to face this battle and register victory that would restore peace and safety of lives and property to every Nigerian.

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90TH ANNIVERSARY OF IGBOBI COLLEGE… L-R: Chairman, Legacy Projects Committee, Mr. Yomi Badejo-Okusanya; Principal, Igbobi Colege, Mr Dotun Akanbi; Chairman, 90th Anniversary Planning Committee/Member Board of Governors, Igbobi College, Mr. Femi Olubanwo; President, Igbobi College Old Boys Association, Mr.Olumuyiwa Kinoshi; Chairman, Board of Trustees, Mr. Bode Thorpe and Member, Board of Governors, Mrs Folasade PHOTO: Dare Ibironke Ogunnaike during the press brieﬁng on the 90th year anniversary of lgbobi College in Lagos..weekend

Zulum: We’re in ‘Catch-22 Situation’ With Boko Haram’s Surrender Says stakeholders need critical framework Michael Olugbode in Maiduguri Governor Babagana Umara Zulum of Borno State, on Saturday in Bama and Gwoza, addressed military officers and community leaders, where he said ongoing surrender by Boko Haram fighters has left Borno State with two extremely difficult situations. He, therefore, said the situation

required diverse stakeholders including representatives of attacked communities, to come together and critically review the pros, cons and implications of the surrender, in order to agree on a framework that was well thought-out. Zulum had travelled to Gwoza and Bama Local Government Areas for humanitarian and development activities before addressing military commanders at the Brigades in

Gwoza and Bama, and community leaders at the palaces of the Emir of Gwoza and Shehu of Bama. The Governor delivered the same message in both towns. "We (in Borno) are in a very difficult situation over the ongoing surrender by insurgents. We have to critically look between two extreme conditions and decide our future. We have to choose between an endless war or to cautiously accept

the surrendered terrorists, which is really painful and difficult for anyone that has lost loved ones; difficult for all of us and even for the military, whose colleagues have died and for volunteers. “No one would find it easy to accept killers of his or her parents, children and other loved ones. In the last 12 years, we have been in this war, and we have lost thousands of fellow citizens. We

don't know the whereabouts of thousands of others; we don't know whether they are alive or dead? In these 12 years, millions have been made homeless and many wealthy farmers, transporters and others have been rendered poor. “In these years, we were able to cultivate maybe around 3% of the arable land, and as a result, our people became dependent on food aid amid donor fatigue and

Catholic Bishops Urge Northern Govs to be Fair to All Religions Presbyterian church backs rotational presidency Onyebuchi Ezigbo in Abuja Catholic Bishops of the Kaduna Ecclesiastical Province have asked governors of the states in the northern part of country to ensure that leaders of all religious groups and the wider society were carried along in formulating policies that affected them. The position of the Catholic bishops, which was stated in a statement, came just as the Prelate of the Presbyterian Church, His Eminence Nzie Nsi Eke has made a case for the rotation of country's leadership among the various geo-political zones.

In the statement jointly signed by the Chairman of the Kaduna Ecclesiastical Bishops conference and Archbishop of Kaduna Most Rev. Matthew Man’so Ndagoso and Secretary, the Bishop of Kano, Most Rev. Dr. John Namaza Niyiring, the Bishops said they were ready to support the governors to see an end to the violence and tragedies happening in the country. He cautioned Nigerians not to allow the country to slide into dictatorship as the 2023 general election approaches. In a statement issued at the weekend, the Catholic bishops said, the actions of some of

the governors in the past and even present have given some evil-minded elements a window to pepertrate evil in the name of religion. Kaduna Ecclesiastical Province comprises the Diocese of Kaduna, Kano and Sokoto where Bishop Hassan Kukah also presides. In the statement dotted with Biblical quotes, the bishops said: "It is important for us all to understand that the northern states have been the most affected in the tragedies, loss of human lives and horror that have engulfed our nation. We all know that sadly, the perpetrators of these

evils are constantly appealing to the religion of Islam to validate their criminality. "We, therefore, call on our governors to become more circumspect in the policies that are being enunciated regarding Religion. Adequate consultations should be undertaken with all religious leaders and the wider society, because our plural societies demand nothing less if laws are to be for the good of all". The bishop said laws must be anchored on the principles of democracy and national cohesion. They lamented that the last few years have been the most trying

FG to Commence Second Phase of COVID-19 Vaccination Today Onyebuchi Ezigbo in Abuja

The federal government will today commence the second phase of the COVID-19 vaccination exercise. A statement issued by Yanda Muhammad for the Head of Public Relations Unit of the National Primary Healthcare Development Agency (NPHCDA) yesterday, explained that the national flag-off exercise is scheduled to hold at the Federal Medical Centre, Jabi, Abuja. The commencement of the second phase of the vaccination exercise was earlier shifted from last Tuesday to today, due to what the agency said had to do with issues of relabelling of the vaccine doses for easy tracking by the regulatory agency, the National Agency for Food and Drug Administration and Control (NAFDAC). The Executive Director of the NPHCDA, Dr. Faisal Shuaib, had

said the four million doses of Modena vaccine donated by the United States government and the 177,600 doses of Johnson and Johnson vaccine received in the country last Thursday, through the African Union and Afreximbank deal would be rolled out during the second phase of vaccination. Shuaib said: "While we appreciate your understanding and the patience of the Nigerian public, it is important to mention that the delay witnessed in the rollout of the vaccine is as a result of our continued commitment to work with our partners and other agencies to ensure that when we roll out the vaccines they are as successful as what we witnessed during the 1st phase of the vaccination rollout. "We are currently wrapping up the training about 40,739 health workers across the National, State and Ward level on our phase 2

strategic vaccine roll out plan with focus on improving the delivery, communication, data management, management of the vaccines and logistics that are needed. "A total of 3363 teams will be used. 2690 teams manning

the fixed post and 673 manning temporary fixed post which will go from settlement to settlement especially around areas where people will congregate for example the houses of the traditional leaders, the markets and motor parks".

times in the history of our nation, adding that a culture of self-doubt and uncertainty have bred fear, anxiety and deep suspicion among the people. "Except for the civil war, our nation has never witnessed the kind of wide spread macabre, evil, wanton destruction and murderous blood-letting. "Life has never been so cheap, nor has Nigeria ever been at the stage we are in now. Deaths in the hands of kidnappers, killer herdsmen, bandit, terrorist groups have made Nigeria the most terrorised country in the world. We are now one of the most dangerous place to be born into, the least peaceful countries in the world," the statement stated. In addition, the Bishops said abductions of school children has presented us with the prospects of a traumatised generation of young students. "Even at the best of times, our region has been behind in almost every index of human survival," said the Bishops.

potential food insecurity, infact the repercussions of the Boko Haram crisis are enormous and as someone, who has been involved with assessment of the impacts and rebuilding efforts in the last seven years. I am in position to know the endless negative impact the Boko Haram has made in Borno,” Zulum said. The governor said accepting Boko Haram had the risk of seriously offending the feelings of victims with potential of civil rebellion, just as there was the risk that if Boko Haram fighters willing to surrender were rejected, they could join ISWAP to swell the ranks of fighters in the bush and the path of peace becomes narrowed. “On my way travelling to Gwoza and Bama, I saw many people cultivating their farmlands by the roadside and this is an indication of emerging peace, which we have to sustain in order to salvage our people. However, like I said, we must come together to carefully analyse the two extremes and come up with a workable framework” Zulum explained further. According to him, he would engage in high level consultations with President Muhammadu Buhari, service chiefs and resident security heads, traditional rulers, elders and religious leaders, national and state assembly members, academics and other stakeholders particularly, victims of the crimes perpetrated by the insurgents, so that stakeholders would critically review the situation and come up with a framework on how to move forward. Meanwhile, during his visits to Gwoza and Bama, Zulum gave developmental directives on improving schools and hospitals.

COVID-19: Buhari, Top Govt Officials May Self-Isolate This Week Deji Elumoye in Abuja President Muhammadu Buhari may self-isolate for the better part of this week after his return to Nigeria from London last Friday. The President and other top officials who were with him during his last 18-day visit to the United Kingdom, are expected to go on isolation with their return to the country. The development may not be unconnected with the

results of positive test to novel coronavirus by Nigeria's High Commissioner to the United Kingdom, Ambassador Sarafa Tunji Isola, who was seen in close contact with the President at the Airport in London and other members of the embassy staff. Already, the Nigerian High Commission has been shut down for 10 days in observation of UK COVID-19 regulations. President Buhari was accompanied on the UK trip by

the Minister of Foreign Affairs, Geoffrey Onyeama, Minister of State Education, Chukwuemeka Nwajiuba, National Security Adviser, Maj. Gen. Babagana Monguno (rtd) and Director General of National Intelligence Agency, Amb. Ahmed Rufai Abubakar, among others. Garba, while speaking on the development at the weekend, said: “Mr President and all of those on his delegation will be isolated in line with NCDC guidelines for

international travel. Commenting on the issue, Presidential spokesman, Garba Shehu, confirmed that President Buhari will self-isolate with his return to the country. Shehu stressed that the President and his entourage were tested on Friday and will take another COVID-19 test before long. His words: “They all tested yesterday (Friday) and will follow up with another test in due course".

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HONOURING OHAA FOR A SECCESSFUL CAREER… Governor Ifeanyi Ugwuanyi of Enugu State (middle) with the former President of the Senate, Senator Ken Nnamani (right) and retired Federal Permanent Secretary, Sir Chinyeaka Ohaa, during a grand reception organized by Awkunanaw Welfare Association, in honour of Ohaa for his successful civil service career, held at Awkunanaw Civic Centre, Akpasha, Akegbe Ugwu, Nkanu West Local Government Area, yesterday.

Secondus: We Met a Traumatised PDP Struggling With Opposition Life PDP Holds NEC meeting Thursday Chuks Okocha in Abuja The National Chairman of the Peoples Democratic Party (PDP), Uche Secondus, has said on assumption of office in 2018, he and other members of the National Working Committee (NWC) met a psychologically traumatised PDP that was struggling to adjust to its new life as an opposition party. Secondus dropped this hint ahead of the much expected Thursday National Executive Committee (NEC) meeting, where the party is expected to make critical decisions, includingthe constitution of a national convention committee and a review of the report on the zoning of offices for the 2023

general election. Speaking with select journalists on the state of the party before assuming office, Secondus said, "We took over the party, when it was still trying to come out of the trauma of losing election and being in opposition for two years under an intolerant ruling party, the All Progressives Congress, APC. "We met a psychologically traumatised party struggling to adjust to opposition life after 16 years in power. We inherited a party that had issues with internal democracy. Delegates were not having the final say on who flies the flag of the party in an election. Names of winners were randomly and blatantly changed in Abuja with disregard to the

people and the requirements of our constitution," he said. The PDP chair, however, explained that, "By the time our reform programme came on stream, the party had become an attractive brand to accommodate the influx of new members that included the entire leadership of the two chambers of the National Assembly then, the Senate President and the Speaker of the House of Representatives, others members of the parliament at federal and state levels as well as three incumbent state Governors of Benue, Kwara and Sokoto who joined us" On internal democracy, Secondus said, "the decentralisation of powers to flow from the people made it

possible for people to get party tickets at the congress venue not at party headquarters at state and national levels,” a development he said allowed popular and more acceptable candidates to emerge at state congresses and national convention. Continuing, he said, "Our national convention in Port Harcourt, Rivers state in October 2018, became the first of its kind in Nigeria. It was so transparent that there was no complaint from anybody. Instead, all the contestants resolved to support the winner. All these helped to engender confidence and trust in our leadership," he explained. Meanwhile, PDP stakeholders have listed what could be termed a middle-course solution to the

latest party crisis that threatened to devour Secondus and other members of the NWC. This is as the party has concluded plans to hold an emergency National Executive Committee (NEC) this week Thursday, being a part of the directives by the expanded Board of Trustees that resolved the intractable leadership crisis. The NEC meeting will dwell on two issues of the constitution of the convention committee and the review of the report of Governor Bala Mohammed committee that reviewed the 2019 presidential election as well as where the presidential standard bearer of the party wouldcome from. Speculation had it that some other interests wanted Secondus

Defection: Court Orders Substituted Service of Suit Seeking Removal of Edo Lawmakers Adjourns suit till September 27 Alex Enumah in Abuja Justice Chuka Obiozor of the Federal High Court, Benin City, Edo State, has ordered the service of a suit seeking the removal of eight lawmakers in the Edo State House of Assembly following their defection from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP), last October. Justice Obiozor issued the order while delivering ruling in an exparte application seeking service of the suit through substituted means. The lawmakers, who include the Speaker of the House, Francis Okiye, Ojiezele Sunday, Onoben Iziegbeya, Okoduwa Ewah, Aluebhosele Ephraim, Asoro Roland, Yekini Idiaye and Nosayaba Okunbor, had left the APC for the PDP few weeks to the governorship election last year. The Edo State House of Assembly has a total of 10 members. However, an aggrieved member of the APC, Mr. Emankhu Addeh in a suit sought the removal of the eight lawmakers on the grounds that their defection violated the law. The plaintiff, in addition to the suit, filed a motion exparte praying the court to order the service of the suit on the defendants through substituted means.

In a short ruling, the judge granted the application and ordered the pasting of the suit at the usual or last known abode of the defendants at the Edo State House of Assembly Quarters. Justice Obiozor further ordered that a pictorial representation of all such pasted processes is attached to the affidavit in proof of service. He subsequently adjourned till September 27 for mention of the suit. The Plaintiff in the Suit marked FHC/B/CS/63/21 asked the court to declare vacant the seats of 8 out of the 10 members of the Edo State House of Assembly for defecting from the party that sponsored their election, the APC, to the PDP. Some of the questions presented to the court for determination included, "Whether by the construction of Section 109 (1) (g) of the Constitution, the 1st to 8th defendants have automatically vacated their seats in the Edo State House of Assembly, by the fact of their defection from the All Progressive Congress (APC), the political party that sponsored their election to the seats in the House of Assembly, to the Peoples Democratic Party (PDP) variously on 5/10/2020 and 1/2/2021 on the floor of the Edo State House of Assembly, before the expiration of the lifespan of the House of Assembly for which they were elected into?

Addeh urged the court to make the following declarations if the answers to the questions were in the affirmative "A declaration that the 1st to 8th defendants have automatically vacated their seats as members of the House of Assembly of Edo State, having defected to another political party and having left the All Progressives Congress (APC), which sponsored their election to the House of Assembly of Edo State, within the tenure of the House of Assembly of Edo State.

He also wanted the court to direct the 1st to 8th defendants to vacate forthwith, the Edo State House of Assembly seats of: Esan South East Constituency; Esan West Constituency; Esan North East Constituency; Esan North East Constituency 2; Igueben State Constituency 3; Orhionmwon Constituency 2; Akoko Edo Constituency 1; and Orhionmwon Constituency 1, which they occupied respectively. "An Order of Court directing the Independent National Electoral

Commission, (the 10™ Defendant) to immediately conduct byeelections to fill the vacant seats of Esan South East Constituency; Esan West Constituency; Esan North East Constituency 1; Esan North East Constituency 2; Igueben State Constituency; Orhionmwon Constituency 2; Akoko Edo Constituency 1; Orhionmwon Constituency 1: in Edo State House of Assembly”, and any other order as the Honorable Court may make in the circumstances.

sacked, because of the political permutations of the 2023 general election and the fear that as national chairman, he wouldplay a critical role with the NWC. According to sources, "The fight against Secondus is principally fanned by forces desperate for the Presidential ticket of the party, and who see Secondus as an obstruction to their parochial ambition. "Some desperate politicians are not happy with Secondus for insisting on free and fair democratic processes and not allowing the party structure to go to the so-called godfathers of the party." It was gathered that having instituted the culture of fairness as witnessed in the 2018 National Convention, such ambitious individuals feared that they would be unable to realise their aspirations if Secondus remained chairman. Particularly, the source said they wanted him and the NWC to reserve the 2023 Presidential ticket for a particular bloc, explaining that such persons saw themselves as having a deep vault capable of buying up the structure of the party and as such, could do anything they wanted as far as their pockets could sustain them. The stakeholders at the expanded BoT meeting took note of the stability of the party devoid of rancours under the Secondusled NWC and concluded that it would not be smart to hound Secondus and the NWC out of office as was the treatment meted to other PDP national chairmen and the NWC in the past.

2023: Stopping INEC from Procuring e-Voting Materials, Part of Rigging Plan, Says Secondus Chuks Okocha in Abuja The National Chairman of the Peoples Democratic Party (PDP), Uche Secondus, has raised the alarm that the move to stop the Independent National Electoral Commission (INEC)from procuring materials for e-voting was part of plans to rig the 2023 general election by the ruling All progressives Congress (APC). Secondus, in a statement from his media office said, every indication pointed to the unfortunate fact that President Muhammadu Buhari and his party, APC were not working

towards conducting free, fair and transparent elections in 2023. The National Chairman was reacting to a media report at the weekend that INEC was halting its procurement of e-voting machines ahead of 2023, because of the rejection of e-transmission of results by the National Assembly. Secondus noted that since the existing Electoral Act and the Constitution gave unilateral powers to INEC to conduct credible elections in Nigeria, it did not need the National Assembly’s position to do its legitimate duties.

"From all indications, INEC is trying to abdicate its constitutionally assigned responsibilities of conducting free, fair and transparent elections, hiding under the cover of delayed amended Electoral Act or rejection of e-transmission of results. "Nigerians and democratic observers globally are watching INEC ahead of 2023 and it will be disastrous if the Independent electoral body dances to the antics of the ruling party. Secondus said if the electoral commission was able to conduct governorship elections in Edo and Ondo States in September

and October last year without the amended Electoral Act, it could still be done all over the country He said the PDP was worried at the development and would do everything legal to ensure that the will of the people of Nigeria was not thwarted again in 2023. He then charged all lovers of democracy within and outside the country to do everything possible to ensure that credible elections were conducted in the country in 2023 as anything short of that would gravely undermine our democracy and indeed Nigeria.

MONDAY, ͹;˜ ͺ͸ͺ͹ ˾ T H I S D AY

ELEVEN

IMF'S VISIT TO TRADE AND INVESTMENT MINISTRY… L-R: Zainab Mangga of the International Monetary Fund (IMF), IMF representative in Nigeria, Ari Aisen, Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, Permanent Secretary in the Ministry, Dr Evenlyn Ngige and the Ministry Director of Trade, Abubakar Aliyu, during the visit of IMF Representative to the Ministry at the weekend

VAT C O L L E C T I O N : F I R S A P P E A L S F E D E R A L C O U RT ' S H I S T O R I C J U D G E M E N T Data compiled by THISDAY shows that the federal government may lose over N1.5 trillion in annual revenue from consumption tax if other states decide to align with the judgement. The court presided over by Justice Stephen Pam held that there was no constitutional basis for the FIRS to demand and collect VAT, Withholding Tax, Education Tax, and Technology Levy in Rivers or any other state of the federation. It maintained that the constitutional powers and competence of the federal government were limited to taxation of incomes, profits and capital gains, which did not include

VAT or any other species of sales, or levy other than those specifically mentioned in items 58 and 59 of the Exclusive Legislative List. However, FIRS vowed to challenge the ruling. In a statement by its Director, Communications and Liaison Department, Abdullahi Ismaila Ahmad, yesterday, the agency said it had appealed the court judgement. The statement obtained yesterday, read, “This is to inform the general public that the Federal Inland Revenue Service has lodged an appeal against the judgment of the Federal High Court, Port

Harcourt Judicial Division, delivered by Honourable Justice Stephen Pam, in SUIT NO. FHC/ PH/CS/149/2020-ATTORNEY GENERAL OF RIVERS STATE v. FEDERAL INLAND REVENUE SERVICE & ANOTHER. "We have also sought an injunction pending appeal and a Stay of Execution of the said judgement. "As the decision is being appealed and in view of the pending applications for injunction and stay of execution, which the FIRS has filed in court against the judgement, members of the public are advised to continue to

comply with the Value Added Tax obligations until the matter is resolved by the appellate courts in order to avoid accruing the consequent penalties and interest for non-compliance. "As the decision is being appealed and in view of the pending applications for injunction and stay of execution which the FIRS has filed in court against the judgement, members of the public are advised to continue to comply with the Value Added Tax obligations until the matter is resolved by the appellate courts in order to avoid accruing the consequent penalties and interest

for non-compliance." FG May Lose N1.5tn Revenue in Historic Judgement Meanwhile, the federal government may lose over N1.5 trillion in annual revenue from consumption tax if other states decide to align with the historic judgement, findings by THISDAY have shown. Data compiled by THISDAY showed that VAT collections in 2020 totalled about N1.5 trillion, with the private sector, including banks and financial institutions, breweries, bottling and beverages, automobiles and assemblies, among others, accounting for N1.44 trillion

AS KABUL FALLS, BUHARI SAYS AFRICA IS NEW FRONTLINE OF GLOBAL MILITANCY optimism that Africa would defeat the terrorist, “one highway, one rail link — and one job — at a time.” Coincidentally, the day the article was published, (yesterday) by the FT, was the day Kabul, the capital of Afghanistan, the global hub of America's terror war, fall to the Taliban. His words: “Though some believe the war on terror winds down with the US departure from Afghanistan, the threat it was supposed to address burns fiercely on my continent. Africa is the new frontline of global militancy. Yet few expect the outlay expended here to be as great as in Afghanistan. The fight against terrorism begun under the George W. Bush administration was never truly global. “Despite rising attacks across Africa in the past decade, international assistance has not followed in step. Mozambique is merely the latest African state in danger from terrorism. “The Sahel remains vulnerable to Boko Haram, 20 years after its formation, and other radical groups. Somalia is in its second decade fighting the equally extreme al-Shabaab. Many African nations are submerged under the weight of insurgency,” he added. Furthermore, Buhari noted that the Sahel remained vulnerable to Boko Haram, 20 years after the sect’s formation and other radical groups. He pointed out that Somalia was in its second decade fighting the equally extreme al-Shabaab, just as many African nations have been submerged under the weight of insurgency. “As Africans, we face our day of reckoning just as some sense the west is losing its will for the fight. It is true that some of our western allies are bruised by their Middle Eastern and Afghan experiences. “Others face domestic pressures after the pandemic. Africa was not then, and even less now, their priority,” Buhari added. However, he said the threat could not be ignored, saying the Covid-19 had been like oxygen for terrorism, allowing it to gain

in strength while the world was preoccupied. While calling for global action, he warned that sooner or later, the reverberations would be felt beyond Africa. If extremist groups were able to hold territory, it could inspire disillusioned people living in the west to commit heinous acts of terror in their own countries, he stressed. The president pointed out that the self-proclaimed caliphate of Daesh in Iraq and Syria fulfilled that propaganda function, boosting transcontinental recruitment. “We must not complacently assume that military means alone can defeat the terrorists. If Afghanistan has taught us a lesson, it is that although sheer force can blunt terror, its removal can cause the threat to return. “The US and its western allies cannot be expected to underpin the security of others everywhere and indefinitely. Africa has enough soldiers of our own,” he said. The Nigerian president said more could be done in Africa to help with technical assistance, advanced weaponry, intelligence and ordinance, saying the US air strikes last month against al-Shabaab in Somalia — the first of the Biden administration — showed what could and should be done. He, however, maintained that what Africa needed most from the US would be a comprehensive partnership to close the disparity between its economic and demographic growth. “Despite having six of the world’s top 10 fastest-growing economies, my continent’s gross domestic product gains are insufficient to provide for burgeoning populations. “Since the start of the US-led war on terror in 2001, Africa’s population has nearly doubled. Every day, every month, this means more unemployed or underemployed entering the labour market, far outstripping economic expansion. “A lack of hope is the chief recruiting sergeant for the continent’s new brand of terrorism,” he added. Additionally, he explained that,

the continent needed above all, an investment in infrastructure, pointing out that transport and freight lines could spread opportunity across nation’s unequal in economic strength. “In parts of Africa, a government’s grip on remote territories can be tenuous. Militant groups step into the void. Some even provide a form of governance, however perverse. These areas must be connected with their surroundings. “The recent attacks in Cabo Delgado in northern Mozambique illustrate the point. Their target was a vast natural gas project, part of an international investment, which extracts wealth but provides few jobs for locals. “This fuels grievances in a poverty-stricken province. It is a landing pad for the likes of Daesh,”

he added. Buhari also justified the federal government’s ongoing railway construction to Niger Republic, saying it was in line with efforts to tackle insecurity and terrorism in the region. He explained: “That is why we in Nigeria have begun building a train line from the southern coast through the north-east to Niger, our neighbour. “My government has been accused of wasting money, because trade between our two nations is minimal. But that is hardly a surprise, given that there is no trade infrastructure between us. “The train line will pay dividends in security, a prerequisite for economic growth. Some will remember that Boko Haram originated in north-eastern Nigeria,

along the border with Niger. First, they agitated against a lack of opportunity. “Then they radicalised into the terrorists we face today.” He posited that the US already had schemes such as Power Africa, which invested in the continent’s essential energy infrastructure, saying more must be done in that regard. Ultimately, he held that Africans needed not swords but ploughshares to defeat terror. “Yes, we require the technological and intelligence support that our armies do not possess. Yet the boots we need on the ground are those of constructors, not the military,” he added.

See page 52, Taliban captures Kabul

of total VAT collections. State ministries and parastatals contributed N59.04 billion to consumption tax in the period under review, while local government councils recorded N1.9 billion. It was believed that the figures could have been higher, save for the adverse effect of the COVID-19 pandemic on the Nigerian economy last year, which impaired consumer spending at the time. According to recent figures released by the National Bureau of Statistics (NBS), as of the second quarter of 2021 VAT amounted to about N1.01 trillion – N496.39 billion in Q1 and N512.25 billion in Q2. The court had issued an order of perpetual injunction restraining FIRS and the Attorney General of the Federation, both first and second defendants in the suit, from collecting, demanding, threatening and intimidating residents of Rivers State to pay to FIRS, Personal Income Tax and Value Added Tax. The judge held that there was no constitutional basis for the FIRS to demand for and collect VAT, Withholding Tax, Education Tax, and Technology levy in the state or any other state of the federation, being that the constitutional powers and competence of the federal government was limited to taxation of incomes, profits and capital gains, which did not include VAT or any other species of sales, or levy other than those specifically Continued on page 52

OTEDOLA RECALLS IBB'S MESSAGE TO JONATHAN flown abroad for medical treatment, there was tension across the nation as a result of the power vacuum, which led to several public protests. In his forthcoming book on business lessons, scheduled for release in November, Otedola revealed that Babangida had sent a message through him to then Vice President Jonathan, to sit on the empty seat of the President in the next FEC meeting and by implication, send a message to all concerned then that he understood the nuances of power and politics. Otedola, who joined million other people across the world to felicitate with Babangida, who would be 80 years tomorrow, Tuesday, August 17, Wished the retired general more rewarding years and thanked him also for all that he represented and still represents. Writing on the need for entrepreneurs to engage with political authorities in one of the chapters of his new book, Otedola maintained that such a relationship would benefit the country. “Entrepreneurs’ outreach and dialogue with political leaders, among many positives, will ensure stability and social coherence, guaranteeing economic progress. “Worried by the tension and

uncertainty, I decided to do something on my own. In the first week of February 2010, I went to Minna, Niger state, along with Hajia Bola Shagaya, to commiserate with General Ibrahim Babangida over the death of his wife, Maryam. “At his Hilltop residence, we spoke on a wide range of issues, but I told him I needed to discuss an urgent and vital issue. He took me to his study, where the two of us were alone. I told him that the state of the nation had been agitating my mind,” he stated. Otedola said he then asked Babangida: “Your Excellency, how can we get out of this logjam? The political heat is too much. “Calm and resolute, IBB replied: ‘Femi, advise your friend that when he gets to the Council Chambers next week for the Federal Executive Council (FEC) meeting, he should go and sit on the President's chair.’ “I found that fascinating and assured him I would pass the message across. I travelled back to Abuja by road in the evening and went straight to have dinner with Dr. Jonathan. I did not waste time in delivering General Babangida’s message to him,” he wrote. Continuing, he added: “He

nodded and asked me: ‘What do you think?’ I laughed and said, ‘Be a man, Your Excellency. Go and sit on that chair!’ He looked at me for some time and responded that he would think about it. “A week later, on Tuesday, February 9, the National Assembly adopted the famous ‘Doctrine of Necessity’ to make Dr. Jonathan the Acting President pending the return of President Yar’Adua from his medical “Behind-the-scene moves by prominent Nigerians preceded this decision. The legislative resolution was unprecedented, but the nation had been tensed up. The fault lines were so stoked that an unusual solution was needed to address the unique situation. “With Jonathan now legally empowered to act as President, there remained the critical optics: would he stand-in for the President confidently and authoritatively? Or would he try to maintain a subdued outlook? The following day was the FEC meeting. As Dr Jonathan entered the Council Chamber, he made to sit on the chair of the Vice President—his usual seat. “As the protocol officer pulled out the VP’s chair, Dr. Jonathan marched towards the seat reserved for the President. And he sat on it!

That was the moment Dr Goodluck Jonathan took control of power. By that act, he sent a strong signal to all Nigerians that he was now in charge. The same day, Jonathan even reshuffled the cabinet.” Yar’Adua died on May 5, 2010, and Jonathan was sworn in as his replacement, going on to win the 2011 presidential elections and serving one term in office. In the book, Otedola said entrepreneurs must engage with political authorities, because it was only when there was peace that the economy could boom. He wrote: “While many may see political engagement for entrepreneurs as one-sided—in the sense that only the entrepreneur benefits—the reality is that it could work both ways. I tapped into my political connections to contribute my little quota to resolving a power crisis that almost set the country on fire. “This example is one of the several instances in which I used my access to the seat of power and political heavyweights to contribute to nationbuilding and national development. Entrepreneurs need to appreciate the fact that peace for the country is peace for their businesses, too. We need a stable and peaceful country first and foremost.”

MONDAY AUGUST 16, 2021 • T H I S D AY

T H I S D AY • MONDAY, AUGUST 16, 2021

COMMENT

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

NIGERIA AND UNDUE EMPHASIS ON CAPITAL INVESTMENTS Francis E. Ogbimi argues that acquiring new knowledge, skills and competences and applying them are central to sustainable economic growth

am usually embarrassed listening to leaders in state and federal governments, business men and business women, lawyers, intellectuals, others, beg and cry for capital investments especially Foreign Direct Investments(FDIs) every hour, every day, in Nigeria. Some state governors travel to Europe, America and Asia to beg Europeans, Americans and Asians to come and invest in their states. I wonder why adults should behave the way Nigerian leaders in government do in relation to seeking capital investments. This article is written to demonstrate that Nigeria’s suffocating debts are consequences of lack of understanding of the science of the development of a nation and undue emphasis on capital investment - the erection of infrastructure, using historical and logico-mathematical evidence. It is obvious that European, American and some Asian nations are industrialized whereas African nations are pre-industrialized. If Nigerian leaders were wise, they would try to find out how the non-African nations became industrialized. No, that is not for the Nigerian leader. Nigerian leaders are assuming that knowledge about what other nations did in the past is not important. Also, Nigerian leaders think that Nigeria does not need to understand the industrialization process before embarking on it. They believe that seeking FDIs in a most ridiculous manner and awarding inflated contracts for erecting structures is the sure way to achieving rapid industrialization. They are very wrong. Africans unwisely talk of technology transfer, especially FDIs. Which nation developed through FDIs? Who transferred technology to Britain – the first nation to achieve the modern Industrial Revolution (IR)? Britain like all other industrialized European nations was an agricultural nation for about 2000 years. When Britain became the manufacturer of innumerable scientific and technological products, she must have acquired the capabilities for manufacturing the products. How are capabilities (competences) acquired? All persons are born as crying babies. The baby soon begins to babble (learns how to talk), acquires the competences to talk and talks. The baby who could not babble grows up to be a dumb-adult. Talking or speaking is a skill. The child must also learn how to read and write, otherwise, it grows up to be an illiterate. No one or nation is born with the skills to produce. All knowledge, skills and competences are acquired through learning (education, training, employment and research). One who wishes to be a good dancer must learn how to dance. A nation which hopes to manufacture many products must develop the people to manufacture them. The talented pianist must play the ordinary tunes before using his talents to compose extra-ordinary tunes. Learning and acquiring new knowledge, skills and competences and applying these in solving problems including production, are the primary sources of achieving sustainable economic growth and industrialisation. Learning results in relatively permanent changes in knowledge, skills, experience and other behaviours. Learning progresses from the novice position to the expert’s position. The intrinsic values of the learning-man and learning-woman appreciate in a compound fashion with learning intensity and time. Thus, when a person commences an educational or apprenticeship scheme, he or she begins from the lowest or novice position. Usually, at the end of the first year of learning, the learning-person is promoted to the second level, having learnt the things scheduled for level one. At the end of the second year, the learning-person again, is moved to level three. The growth achieved this way is sustainable. The learning person builds-up

THE STRONG EMPHASIS AT THE STATE AND FEDERAL LEVELS TO ERECT INFRASTRUCTURE IN AGRICULTURAL/ ARTISAN NIGERIA IS TANTAMOUNT TO ATTEMPTING TO FILL A PROFUSELY LEAKING WATER-TANK WITH WATER

capabilities or competences. That means, his/her ability to do things, including production increases as long as he/she continues to learn. So it is too for a nation. A learning-nation achieves SEGI, not GDP-growth, not growth without development (GWD). The intrinsic value of the learning-person can be expressed in a quantitative manner. A nation which emphasizes learning continuously builds-up of knowledge, skills and competences (KSCs). As the learning process continues, a point is reached where each type of KSCs begins to enjoy the supportive impact of all others and all of them form an invisible KSCs-network, a sort of problem-attacking front. The nation at that point achieves Industrial Revolution (IR) – a technological puberty. Productivity improves dramatically, the nation achieves economic diversification – various sectors of the economy begin to perform efficiently and effectively. The economic transformation described as IR, may be likened to what the spider achieves when it combines many of its silk-threads to make its web. The single silk-thread which the spider spins, is a relatively weak structural material which fails readily under any stress regime. However, the web which it makes from the combination of many of the weak silk-threads catches the small creatures on which the spider feeds. In a like manner, no individual solves the problems of a nation, but a combination of many millions of knowledgeable, skilled and competent people transforms an agricultural nation into an industrialized one. Our quantitative analyses showed that the variables for planning for industrialization are: One, N – the number of people involved in learning/productive work and employment in a nation; two, M – the level of education/training of those involved in productive activities in the economy and of the people of the nation; three, L – the linkages among the knowledge, skills, competences and sectors of an economy; four, r – the learning rates or intensity in the economy and especially among the workforce; and five, n – the experience of the workforce and the learning history of the society. All the variables are related to the learning-man and learning-woman. Moreover, the higher are the values of the variables, the better is the economy. A national growth measurement based on some or all of these variables would reflect the true economic situation in the nation. Those who do not understand the science of industrialization measure GDP-growth or GWD. The research works of Charles Cobb (a mathematician) and Paul Douglas (economist) in 1928, Douglas (1948), Abramowitz (1956) and Solow (1957) showed that capital investment contributes very little to achieving SEGI. Gerschenkron (1966), examined the Western industrialisation experience and concluded that capital investment was not a prerequisite to it. Our scientific research using equations and graphs also showed that mere capital investment does not promote SEGI. All capital assets – roads and telecommunication networks, electricity generating and distributing plants, railways, stadia, machinery and equipment, real estate, furniture, etc., experience depreciation, hence they are Depreciating Assets(DAs). A young nation emphasizing capital investments, is investing on a decreasing investment function. Thus the strong emphasis at the state and federal levels to erect infrastructure in agricultural/artisan Nigeria is tantamount to attempting to fill a profusely leaking water-tank with water. To that calamity we can add the haemorrhage of inflated contracts. Why would Nigeria not accumulate local and foreign debts and stagnate/stagflate? Prof Ogbimi, fogbimi@yahoo.com

UNBUNDLING THE POVERTY TRAP

The government enterprise empowerment programme is out to sustain the fight against poverty, writes Danliti Goga

overnments all over the world must come to terms with the popularity of criticism whether warranted or not and the mockery of praise as sycophancy. This is now a queer feature of opposition politics in democratic settings which encroaches on the credibility of the most acceptable system of government. In Nigeria, the establishment of a federal ministry dedicated to the delivery of humanitarian relief as part of an innovative multi-faceted social investment programme after decades of uncoordinated ad-hoc interventions deserved all-round applause. But opposition politics dictates uncompromising disparagement of every policy and programme of the incumbent administration, especially popular ones like dedicating a ministry to job creation, youth empowerment and poverty alleviation. So it came to pass that the creation of Humanitarian Affairs Ministry faced a barrage of contrived media criticism fired by partisan antagonists hurling allegations without substantiation to exploit the pre-existing distrust of government. What has outlived and overshadowed negative propaganda however is the straight-faced deflection of the diatribe by the pioneer minister, Saadiya Umar Farouq’s consistent reference to verifiable performance indicators, as well as the implementation role of state governments and partnership with security and anti-corruption agencies. More than this, reports confirm that the new ministry has effectively taken over and streamlined the poverty alleviation, disaster management

and social development programmes of the federal government, refocusing and reinvigorating them to align with the Buhari administration’s revolutionary mission of lifting 100 million Nigerians out of poverty in the next 10 years with impressive alacrity and outcomes. Schemes like N-POWER (now expanded), National HomeGrown School Feeding Programme (NHGSFP), Conditional Cash Transfer Programme (CCT) and the Grant for Rural Women programme have all become sensational successes across the country, with rapidly rising number of beneficiaries. In a smart response that further boosted job creation and transparency ratings, Minister Saadiya Umar Faruq launched a project monitoring initiative engaging 5,000 youths across the nation, armed with digital devices linked to the ministry headquarters, to ensure strict compliance with terms and conditions of programmes covered (and the performance of the monitors), detect and report irregularities automatically. This is zero-tolerance to non-performance! Latest reports show that the ministry has come up with GEEP 2.0, a revamped and restructured version of the Government Enterprise Empowerment Programme(GEEP) which is scheduled for launch soon to give special consideration to farmers, youth and women, leveraging on its three loan products – the popular Market Moni, Trader Moni and Farmer Moni – to support small and medium sized businesses. The new programme effectively expands its scope while unbundling the constituency of under-privileged and most vulnerable people by targeting particular segments. The collateral and interest free

loans will promote development of business and financial management skills among beneficiaries. Thus under GEEP 2.0 Trader Moni’s youth based focus will give special attention to empowering under-privileged and marginalized youths who lack access to education - orphans, disabled and abandoned out-of-school children. Farmer Moni now promotes agro-entrepreneurship by supporting farmers engaged in crop cultivation, livestock, poultry and fisheries and Market Moni gives marginalized women such as widows, divorcees, women in IDPs, women heads of families and other women with entrepreneurial skills. To enhance smooth implementation and facilitate sensitization, mobilization and participation of the intended beneficiaries of GEEP 2.0, the Humanitarian Affairs Ministry has retained the partnership of the National Orientation Agency (NOA) to deploy personnel who will serve as desk officers in all 774 local government areas and the FCT and supervise the registration process. Already training sessions have been organized by the ministry to acquaint the desk officers with their duties. States and local governments are also integrated into the implementation of the programme for the purpose of providing personnel to function as focal persons at their respective levels. Saadiya Faruq who flagged off the training session recently again upheld the ministry’s commitment to ensuring transparency and accountability in the implementation of its programmes by demanding an undertaking on probity from all those involved in administering the programme

which is an additional measure to insulate the programme from malpractices that can thwart achievement of its objectives. The engagement of security and anti-graft agencies is already built into all programmes for optimum performance of the National Social Invest Programme (NSIP). The successful revitalization and restructuring of GEEP which had provided incremental loans of between N10,000 and N300,000 to 2.3 million beneficiaries in the last four years indicates steady progress of the NSIP of the Buhari Administration thereby justifying the decision to consolidate its various components and prioritize their implementation towards the desired greater positive impact on the targeted categories of under-privileged and vulnerable citizens with a dedicated federal ministry. GEEP 2.0 is therefore yet another initiative for job creation, poverty alleviation, youth and empowerment, entrepreneurial skills acquisition as well as giving the disabled succour and a new lease on life which other revamped and expanded arms of the NSIP, namely N-POWER , National Home-Grown School Feeding Programme (NHGSFP), Conditional Cash Transfer Programme (CCT) and the Grant for Rural Women programme have been delivering under the diligent supervision of Saadiya Faruq. The mission of the Buhari administration to lift 100 million Nigerians out of poverty in the next 10 years is not far-fetched after all but a monumental move in giving millions of marginalized citizens a novel sense of belonging to a country that cares for them for the first time in a long while. Goga wrote from Kano

T H I S D AY • MONDAY, AUGUST 16, 2021

EDITORIAL

COMBATING CRIME AGAINST WILDLI FE The authorities could do more to contain the crime

he Nigeria Customs Service (NSC) recently announced the seizure of huge wildlife products including elephant tusks and other endangered species. And in Lagos, among some wealthy people, no party is complete without a display and barbecue of some protected animals, as seen in some trending videos on social media. It should worry the authorities that our country is fast becoming a huge jungle. In fact, Nigeria has officially assumed the hub for illicit trade in wildlife, and the recent fad of serving endangered animals as delicacies at parties has enraged the nation’s environment communities. The Nigerian Conservation Foundation (NCF) has identified pythons and crocodiles as being endangered species as they are also widely eaten. In March this year, the United Nations Office on Drugs and Crime (UNODC) stated that there is pressure on Nigerian wildlife, with pangolins, forest elephants and other endangered species, traded both domestically and internationally. According to the UN agency, UNODC’S WORLD animals are hunted for WILDLIFE CRIME REPORT their bushmeat/barbeque at choice parties 2020, FOUND THAT, and body parts, such as IN 2019 ALONE, AT is done with pangolin LEAST 51 TONNES OF PANGOLIN SCALES SEIZED scales and elephant ivory tusks. GLOBALLY ORIGINATED There appears FROM NIGERIAN PORTS, to be geographic COMPARED TO ONLY TWO consolidation of TONNES IN 2015 trafficking routes across several markets, with Nigeria emerging as a key source/transit country for many shipments of protected species and products. The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), Elephant Trade Information System to COP17 places Nigeria the second most prominent ivory exporting country in West Africa, functioning as a major hub for ivory from Central Africa and, increasingly, from East Africa. UNODC’s World Wildlife Crime Report (WWCR) 2020, found that, in 2019

Letters to the Editor

alone, at least 51 tonnes of pangolin scales seized globally originated from Nigerian ports, compared to only two tonnes in 2015. More than half of all seizures of pangolin scales worldwide were traced to Nigeria in 2019. Despite a global decline in trafﬁcking in ivory since 2011, Nigeria has been identiﬁed in a growing number of incidents as part of the illegal trade chain.

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

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

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

NO TO FUEL PRICE HIKE

resident Muhammadu Buhari has said that the construction of modular refineries in Nigeria will make petroleum products available in the country and eliminate importation. He said the deployment of modular refineries was one of the four key elements of his administration’s refinery road map rolled out in 2018, adding that its implementation will make Nigeria a net exporter of petroleum products. ”The realisation of the refinery road map will ultimately lead us to becoming a net exporter of petroleum products not only to our neighbouring countries but to the worldwide market,” Buhari said. State governors in Nigeria should emulate Governor Obaseki of Edo State who has attracted modular refinery projects, namely Duport Refinery Edo and Edo Refinery to his state. The two modular refineries are at different levels of completion. President Buhari and Governor Obaseki are not talking of fuel price hike. President Buhari is rehabilitating Warri and Port Harcourt refineries. The 36 states’ governors should duel more on building new refineries than fuel price hike and removal of fuel subsidy. President Buhari is standing with the people. The people of Nigeria are against the removal of fuel subsidy. Governor Obaseki and President Buhari must be commended for the two modular refineries that will start operation in Edo State soon. The Energy Park in Edo is the second industrial refinery facility in the state. The Park, which is the

he January 2021 seizure at the Apapa Ports by the Nigeria Customs Service of 20 feet container containing the remains of various endangered species further buttresses these ﬁndings in the WWCR 2020. The container included 2,772 pieces of elephant tusks of different shapes weighing about 4,752kg; 162 sacks of pangolin scales weighing 5,329kg; 5kg of rhino horns, dried and fresh animal bones; 103 kg of skulls suspected to be of lions and other wild cats; and 76 pieces of timber (semi processed and processed). Obviously concerned about this ugly development, the federal government requested UNODC’s support for interventions to tackle wildlife crime, including the conduct of a corruption risk assessment (CRA) for the wildlife and forestry sectors. Consequently, UNODC in partnership with the relevant national ministries, departments and agencies is undertaking a series of activities to facilitate corruption risk assessments and the development of corresponding corruption risk mitigation strategies for Nigeria’s wildlife and forest sectors. This intervention is being funded by the European Union through the International Consortium on Combating Wildlife Crime (ICCWC). This commitment has seen the UNODC supporting both the wildlife and forest sectors in Nigeria, and the ﬁrst phase of the CRA focuses on the wildlife sector, the Nigeria Customs Service and the National Environmental Standards and Regulations Enforcement Agency (NESREA), as the two main agencies with a mandate to counter illegal wildlife trade in Nigeria. These events, no doubt, have been instrumental to the recent successes the NCS has achieved. However, the federal government needs to strengthen the Federal Ministry of Environment, the NESREA, and the Independent Corrupt Practices Commission (ICPC).

first of its kind in West Africa, has refinery operation, gas processing plant and power plant sharing the same resources. Powered by Platform Capital, the Energy Park has a 10,000 barrel-per-day refining capacity, a 50 megawatts plant capacity and a 60 million scf gas processing plant. In March 2021 chaos greeted the purported increase in the pump price of petrol, although not unexpected since the nation has been subtly put on notice by the authorities for a while. The pump price jumped from N162 to N212, an addition of over N50, which riled many Nigerians who took to social media to denounce the action. Hours after the chaotic public response to the alleged increase, the federal government pushed back on the insinuations that it had increased the pump price of petrol per litre, saying that it had not given any such approval. The federal government had on May 21, rejected the governors’ recommendation of upping petrol price to between N380 and N408.5 per litre. The governors’ advice was based on the report of its committee chaired by the Kaduna State Governor, Mallam Nasir el-Rufai, seeking the full deregulation of the oil sector. But the Minister of State for Petroleum Resources, Chief Timipre Sylva, in a statement, said the current petrol price of between N162 and N165 per litre would stay. Sylva said the current price would be retained until the ongoing negotiations with the organised labour were concluded. Inwalomhe Donald, Abuja

THE KILLING OF INNOCENT TRAVELERS IN JOS

igerians woke up on Saturday last week with the bad news of gruesome murder of innocent travellers returning from annual national Zikr in Bauchi. They were intercepted along Rukuba, Gada-Biyu axis of Jos-North local government by suspected Irigwe ethnic militias who killed them and burned their buses. The atrocity should be condemned by every peace-loving Nigerian. The killing of these innocent travellers came at a time when Plateau State which was epicenter of ethno-religious crisis has started enjoying relative peace courtesy of Governor Simon Bako Lalong’s commitment to bring lasting peace to the state. The militias who carefully selected their victims have a hidden or ulterior motives. Some of their reasons are to set the state on fire and fuel retaliation across the country. The victims came from other states of the country and only on transit. What did they do? Even before the unfortunate killings, there have been reported cases of how innocent travellers are being killed in some roads which are considered no go areas for certain faith. If this crude way of life displayed by the mobs can be adopted in other states, one imagines the dire consequences it will bring to the peace, unity and development of the country. I learnt that some suspects have been apprehended by the Nigeria army. This is a good development. However, the problem is not whether the perpetrators of the heinous crime are arrested or not. The question remains, are the culprits going to face justice according to the laws of the land? So long as government continues to temper justice with mercy on those who commit grave offense against humanity, we should rule out any possible end to the unnecessary carnage. Ibrahim Mustapha, Pambegua, Kaduna State

MONDAY AUGUST 16, 2021 • T H I S D AY

T H I S D AY ˾ MONDAY AUGUST 16, 2021

POLITICS

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

M O N D AY D I S C O U R S E

Buni: Still Walking the Tight Rope Since the pronouncement by the Supreme Court in the Ondo Governorship election, which aﬃrmed the victory of Governor Rotimi Akeredolu, but questioned the legality of the caretaker committee led by the Governor of Yobe State, Mai Mala Buni, the All Progressives Congress has been thrown into multiple chaos, recently compounded by the opposition Peoples Democratic Party, seeking his ouster from oﬃce. Adedayo Akinwale writes

Buni

he coming of the National Caretaker/ Extraordinary Convention Planning Committee of the ruling All Progressives Congress (APC) led by the Governor of Yobe State, Mai Mala Buni was a child of necessity; to save the ruling party from the protracted leadership crisis that characterised the Adams Oshiomhole-led National Working Committee (NWC), which shook the party to its very foundation. The Caretaker Committee was inaugurated on June 25, 2020 to run the affairs of the party after the sack of the Oshiomhole-led NWC. It was given a six months mandate to reconcile aggrieved members, hold congresses and a national convention. However, its tenure has been elongated for the third time when it failed to achieve two out of the three assignments. Buhari’s Unconstitutional Elongation of Caretaker Committee’s Tenure Trouble started when President Muhammadu Buhari in clear contravention of the constitution of the party approved the extension of the tenure of the party single-handedly without consultation with the National Executive Council (NEC). In spite of the brazen act of illegality and the unconstitutional approval of the tenure elongation of the committee, chieftains of the party who were not in agreement with the decision of the President could not muster the courage to challenge his decision, rather most of them grumbled and moved on.

However, a group, Concerned All Progressives Congress (APC) Stakeholders, dared the President when it said he lacked the power under the constitution of the party to grant tenure extension to the committee. Through its Spokesperson, Abdullahi Dauda, the group disagreed with the tenure elongation to the Buni Committee, saying APC as a political party is governed by the constitution and could not be run as a one-man show. It also insisted that the constitution of the party does not give Mr. President the right to elongate the life of the CECPC and wondered how the President who prides himself as a principled man, with a load for respect for law and order would violate the constitution the party’s constitution without blinking his eyes.

However, the group’s protest against Buhari’s unilateral decision did count for much as the Caretaker committee continued to pilot the affairs of the party unhindered. APC State Chapters’ Crisis Through the membership drive of the caretaker committee of the party, the APC has witnessed an influx of members into its fold. An unverified claim puts its registered members at 40 million. This includes serving and former governors, serving and former federal and state lawmakers who entered its fold. Moreso, the membership drive has succeeded in depleting the ranks of the main opposition party, the Peoples Democratic Party (PDP). On the other hand, it has

The APC Governors are persuaded that with the clarification provided by the Supreme court in its written judgement, every decision and action taken by the Buni committee remains legal and binding since the court has affirmed its legality. This possibility goes with the thinking that the recently conducted ward congresses of the party were in order

also helped in no small measure in creating crises in various state chapters of the party. Zamfara In Zamfara State, the recent defection of the state Governor, Bello Matawalle from the PDP to the APC has sparked off a new leadership crisis in the state. Two chieftains of the party in the state, Senator Kabiru Marafa and former Governor Abdul-Aziz Yari have opposed the directive by the caretaker committee that the governor has automatically become the leader of APC in the state. Marafa noted that the declaration of Matawalle as the leader of the party in the state was tantamount to deception, insisting that they would not accept it, while Yari insisted that the committee lacks the power to declare the Governor as the leader of the party in the state. It should? however, be noted that the decision of the caretaker committee was in line with the party’s constitution which recognises the President as the national leader of the party and the governors as the leaders in their respective states. Kwara The battle for the control of the soul of the party between the State Governor, Abdulrahman Abdulrazaq on one hand and the Minister of Information and Culture, Alhaji Lai Mohammed has ensured that a no-peace situation in Kwara APC. While the leadership of the party at the national level recognises Alhaji

T H I S D AY ˾ MONDAY AUGUST 16, 2021

MONDAY DISCOURSE

Buhari

Abdulahi Samari, who is in the same faction with the State Governor, as party Chairman, Mohammed’s faction insist on Hon. Bashir Bolarinwa as Kwara state APC Chairman. The Information Minister’s faction has opened a new secretariat at No 26, Reservation Road, GRA, Ilorin recently, but the national leadership of the party wasted no time in depleting the Minister’s camp by suspending 11 of his loyalists for that brazen act. This was a clear message to the Minister. A highly placed member of the caretaker committee said since governors are the financial backbone of the party and as such the party would never sacrifice a governor for any member. Last Wednesday, hundreds of members of the APC believed to be loyal to Mohammed formally joined the Young Progressives Party (YPP). They said their decision was prompted by the lack of a level playing field and fair treatment from the state chapter of the APC. The group, which calls itself the Third Force, vowed to wrestle power from the APC come 2023. The Third Force is largely populated by major leaders of ‘O To Ge’ movement, who have formally joined the YPP. The state cooordinator of the group, Alhaji Abdulfatah AbdulRahman, who spoke with journalists in Ilorin on the defection said their former party has excluded a majority of them from exercising their legitimate right during the membership/ revalidation exercise. Imo In Imo, the State Governor, Senator Hope Uzodinma is fighting tooth and nail to gain control of the party. This has led to a cold war between him and his predecessor, Sen. Rochas Okorocha and other political gladiators in the state including Sen. Ifeanyi Ararume. Anambra In Anambra, the recently conducted governorship primary has also thrown the party into chaos. Most of the aggrieved aspirants including the Director General of Nigerian Inland Waterways Authority (NIWA), Chief George Moghalu have headed to court to challenge the outcome of the primary, which they all insist did not hold. Ekiti The crisis in Ekiti chapter of the APC started in 2018 after the governorship election. Attempts to settle the rift have not been successful. Thus unity among members of the party has been elusive. The rumoured presidential ambition of Governor Kayode Fayemi, who from all indications is determined to slug it out with his former boss and the national leader of the party, Asiwaju Bola Tinubu has further compounded the crisis. There are two factions of the party in the state. There is Fayemi’s faction and the Ekiti APC Stakeholders’ Forum led by Senator Babafemi Ojudu, Senator Adedayo Adeyeye, Senator Anthony Adeniyi, Hon. Bimbo Daramola and Adewale Omirin, among others. This faction is loyal to Tinubu. Besides, Tinubu is also plotting to ensure that Adeyeye becomes the next governor of the state, while Fayemi is planning to stamp his authority too by ensuring that a loyalist of his takes over from him. Ogun Governor Dapo Abiodun and his predecessor, Senator Ibikunle Amosun are slugging it out for the control of the party. The rivalry between them has created a division within the

Badaru

Malami

party. Since he took over two years ago, Abiodun has tried to consolidate his hold on power by seeking the support of two former governors, Chief Olusegun Osoba and Otuba Gbenga Daniel. On the other hand, Amosun, who currently represents Ogun Central in the Senate leveraged on his cordial relationship with President Muhammadu Buhari to corner all federal appointments to the state for his cronies in order to remain relevant in Ogun politics. Nevertheless, Abiodun is believed to be consolidating his hold on power and strategising for his second term. Osun There is no love lost between Governor Gboyega Oyetola and his predecessor and Minister of Interior, Rauf Aregbesola. Argbesola’s desperate attempt to maintain his grip on the party structure is already creating tension and crisis between the loyalists of the governor and that of the Minister. But the recently conducted ward congresses in the state has sent a signal to Aregbesola that the Governor is not a political novice as he ensured his loyalists won all the positions at that level. Lagos Surprisingly, Tinubu is not finding it funny in his home state either, as the crisis ravaging the state chapters of the ruling APC is also affecting Lagos. The 2018 controversial congresses conducted under the supervision of the NWC-led by Oshiomhole is still haunting Lagos APC two years after. That 2018 congresses resulted in a split of the party to two factions, with Fouad Oki emerging as factional chairman in a parallel congress. Oki had challenged the legality of the Chief Tunde Balogun-led executive on grounds that the congress that produced him was conducted contrary to the provisions of the 1999 constitution and the directives of the Independent National Electoral Commission (INEC). Akwa Ibom Many leaders and members of the APC in Akwa Ibom State are still pained by the way the Minister of Niger Delta Affairs, Senator Godswill Akpabio bulldozed his way to the top. Pushing everybody that he met in the party like Senator Akpan Udoedeghe, Senator Ita Enang, Mr. Nsima Ekere and Mr. Umana Okon Umana aside, Akpabio got the state’s ministerial slot and nominated someone for an ambassadorial position. Thus, when Udoedeghe who is

a loyalist of Tinubu emerged as National Secretary of the CECPC, the power of terror and impunity in the Akwa Ibom chapter of the APC became balanced. During the recent ward congresses, the Akpabio faction was outsmarted, as Udoedeghe and his men were accused of shutting out others from the exercise. Akpabio has countered by establishing a grassroots movement in all the wards. Rivers The sharp division between factions of the party championed by Transportation Minister Rotimi Amaechi and Senator Magnus Abe was highlighted, again, during the recent ward congresses. While the Amaechi faction appears to have an upper hand, Abe has threatened to repeat the spoiler role he played in the last general election which dragged the Rivers State chapter of the APC through a long and exhausting court process that resulted in APC being shut out of participation in the election. It is obvious that the APC does not speak with one voice in many states. Various state chapters of the party are riddled with one crisis or the other. In all cases, attempts to reconcile the warring factions have not been successful, calling to question the applause for and continued existence of the CECPC, as reconciliation was one of its critical assignments. Supreme Court Bombshell on Ondo Governorship Election The messy situation in the APC has further been compounded by the recent Supreme Court judgement on the Ondo State governorship election. The APC would have lost the state to the held PDP, but for the contrived technicality that the opposition party’s governorship candidate, Mr. Eyitayo Jegede’s (SAN) action was impaired because he failed to join Buni in the suit. The Apex Court came up with a split decision; having four justices against three of their Lordships led by Justice Mary Odili, who read a minority judgment. Reactions and Counter Reactions to the Judgement The Minister of State, Labour and Employment, Chief Festus Keyamo (SAN) believes that the Supreme Court judgement on the Ondo governorship election has weaponised all those that would be aggrieved by the APC congresses to proceed to court to challenge the competence of the Buni-led committee to organise the congresses and national convention. He

The former National Legal Adviser of the APC, Mr. Babatunde Ogala (SAN), has also opined that the party’s congresses remains a nullity in the eyes of the law and should be cancelled forthwith. Ogala, who is Tinubu’s loyalist, therefore recommended the reinstatement of the dissolved NWC without the former Chairman, Adams Oshiomhole, because his suspension followed due process

Akpanudoedehe

warned that the judiciary will subsequently destroy the entire structure of the party from bottom to top. Similarly, two presidential aides, Sen. Babafemi Ojudu and Sen. Ita Enang said a cursory reading of the minority judgment appears to have swept the carpet of legality off the feet of the caretaker committee rendering it illegal, null, void and of no legal capacity to undertake any action on behalf of and in the name of the party. However, critics of Keyamo, Ojudu and Enang have hinted that their position may have been inspired by selfish motives because they could not get a good grip of the party structure at the just concluded ward congresses. Therefore, their insistence on cancellation of the congresses is supposed to give them a breather to reorganise for another attempt to re-strategise and make their political base unassailable. This is, however, not to jettison the fact in their submission that the Supreme Court judgement may have put the spanner in APC’s works. But, a member of the legal team of APC, Chief Niyi Akintola has said that the position of Buni as the chairman was not injurious to the party congress and the forthcoming Anambra governorship election. He said a minority judgment remains what it is, because It has no efficacy and value. He emphasised that the only value a minority judgment has is for academic purposes and research because it cannot be cited as an authority. To him, the country’s law and jurisprudence does not allow for any efficacy to be attributed to minority judgment. Despite the assurances given by the legal luminary, there have been strong and unrelenting calls for Buni’s resignation by some party members. APC Ward Congresses a Nullity- Ogala Against this background , the former National Legal Adviser of the APC, Mr. Babatunde Ogala (SAN), has also opined that the party’s congresses remains a nullity in the eyes of the law and should be cancelled forthwith. Ogala, who is Tinubu’s loyalist, therefore recommended the reinstatement of the dissolved NWC without the former Chairman, Adams Oshiomhole, because his suspension followed due process. He said the apex Court has not left anyone in doubt except those who choose to ignore them. He said the untenable position of Buni as de facto APC National Chairman is the smallest of APC’s problems. He noted that the bigger issue is the fact that the entire Caretaker Committee structure is unconstitutional as it runs counter to the spirit of Section 223 of the 1999 Constitution, which mandates political parties to have only democratically elected leadership. APC Governors Stand Governors elected on the platform of the APC have also weighed in on the Supreme Court judgement, insisting that the Apex court validated the Caretaker Committee of the party. The Chairman of Progressive Governors Forum (PGF), Atiku Bagudu, said prior to the release of the written judgement delivered by the Supreme Court, a lot of analysis and interpretations have been made, with some clearly taking a mischievous position. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ MONDAY AUGUST 16, 2021

POLITICS

Waiting on PDP’s NEC This week, the opposition Peoples Democratic Party is scheduled to hold a crucial National Executive Committee meeting, which among other decisions, would pick a date for its national convention, writes Chuks Okocha

Secondus

Mohammed

ith the resolution of the leadership crisis that faced the main opposition party, the Peoples Democratic Party, (PDP) the party is now forced to face the consequences of what happened in the intractable power struggle that nearly saw the implosion of the party. The PDP is forced by the circumstances that it found itself to organise a national convention to elect new members of the National Executive Committee (NEC) and calso announce which part of the country its presidential candidate will come from. The Chairman of the PDP Governors’ Forum and Governor of Sokoto State, Aminu Tambuwal, who read the communique of the expanded stakeholders meeting where these decisions were reached, said that they must hold extensive consultations with all major stakeholders in the party including the governors, members of the Board of Trustees, former presiding officers and current principal officers and leaders from the National Assembly, former governors, former ministers, and indeed other leaders of the party with a view to bringing all tendencies within the party together in view of the urgent task facing the party as the only viable vehicle to checkmate the abysmally poor governance of the All Progressives Congress-led (APC) Federal Government. The meeting, he said deliberated extensively on the issues thrown up and resolved that the constitution, traditions and practices of the party should be strictly adhered to in finding solutions to any problem. He stated that the meeting appealed to all stakeholders to sheathe their swords in the greater interest of the PDP and the need to rescue Nigeria from the avoidable national malaise and drift occasioned by the APC administration. As part of the solution to the immediate

Makinde

crisis, the Sokoto state governor said that all processes leading to an early national convention in October should be immediately activated by relevant party organs, especially the National Executive Committee. In this regard, Tambuwal said that the party should redouble efforts to provide a credible alternative leadership for Nigeria as it still remains the only hope for the Nigerian people for good governance. Accordingly, he said, “The meeting requested the NEC to immediately constitute a zoning committee for party offices and another committee for national elective offices” This would a huge challenge to the PDP, because two things are involved. The NEC meeting expected this week will discuss two major things. First the constitution of the convention committee and review of the Governor Bala Mohammed of Bauchi State’s Committee report that threw the presidential ticket of the party open. In setting up the convention committee, the party must be specific on the zoning

Ologbondiyan

arrangements and agreements that would favour it’s quest to win the presidential election in 2023, or else, the PDP would be dealing itself a fatal blow. Political pundits are worried, whether on the account of the resolved crisis, the PDP will reveal it’s zoning plans ahead of the APC. This is because, once the national convention details are released, it would be very clear which zone gets what. Again, the expanded stakeholders meeting hinted that the NEC meeting will review the report that threw open the presidential ticket of the party to all the six geopolitical zones of the country. The 2019 Elections Review Committee set up by the PDP, to assess its performance in the last general election, urged the leadership of the party to allow interested party members vie for the 2023 Presidency, irrespective of their geo-political zones. The chairman of the committee was the governor of Bauchi state, Senator Bala Mohammed. The committee anchored its position on the fact that across the land, Nigeria boasts of good hands capable

It is important to add that there is no clear position yet whether the Secondus led NWC would be stopped from recontesting their offices at the convention. The party clarified that no decision was taken to bar any member of the NWC from exercising his or her rights under the constitution of the PDP to contest in its forthcoming national convention

of bailing the country “out of her current quagmire.” He said: “In line with certain unwritten conventions of the nation’s history, many people think that, for fairness and equity, the North-east and South-east geo-political zones that have had the shortest stints at the Presidency, should be given special consideration, in choosing the presidential flagbearer of the party, for the 2023 elections. “While we admit that this is a strong argument, we should not lose sight of the fact that Nigeria is endowed with many capable and very experienced leaders in every part of the country. Moreover, the exigencies of the moment demand that nothing should be compromised in choosing the leader, with the attributes to disentangle the country from the present quagmire. “Therefore, we think that every Nigerian, from every part of the country, should be given the opportunity to choose the best candidate, through a credible primary election; as a way of institutionalising a merit-based leadership recruitment process, for the country.” The report received attacks from Nigerians from the South, because it was against the tide that the presidential ticket of the party should be zoned to the south. To, therefore openly discus the zoning arrangement would be hurtful to the party. It would be playing the joker card before the game will commence. But, even if the PDP still retains the office of the National Chairman to the south, which is likely to be so. Which of the three zones of the south will it be zoned to? Will Secondus and members of the NWC be stopped from contesting? NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

MONDAY AUGUST 16, 2021 • T H I S D AY

T H I S D AY ˾ ͯʹ˜ ͰͮͰͯ

FEATURES

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

Unanimous Quest for Decent Healthcare for Agboyi-Owode Lagos Community The Agboyi-Owode community, one of the communities in Agboyi-Ketu area of Lagos State, has been in existence for 600 years. Comprising six communities with about 30,000 people, the community has been burdened by an almost non-existent healthcare given that only one Primary Healthcare Centre caters for all pregnant women, nursing mothers and their children, among others. Rebecca Ejifoma who sought the opinion of 14 pregnant women and nursing mothers in the community, report that they were unanimous in their quest for a decent primary healthcare centre, a standard hospital, and orthodox medicine, among several other demands, all geared to save mother and child given that the community is also bugged with lack of access roads, quality education, portable water and even employment opportunities

Ewatomi Ibrahim and baby

he time was 6am on a certain Friday and the sun was just peeping through the horizon when this reporter set out from her Agbara residence to the Ketu area of Lagos State. The quest appeared simple- sample the opinions of nursing and pregnant mothers of AgboyiOwode community, one of the communities in Agboyi-Ketu area of the state. But as cliche as the saying that 'things never appear as simple as they look' is, that certainly rang true in this sojourn to seek the truth. From Ketu junction, it took 10 kilometres bike ride for N500 to the shore of the murky lake that sandwiches community. With no life jacket in view, about eight passengers mounted the rickety canoe at N50 per person. The five minutes trip led us to the Agboyi III community, and we began to find our way gradually. Makeup of Agboyi-Owode Community Agboyi-Owode is the lagoon part of AgboyiKetu area of Lagos State. It comprises six communities with about 30,000 people. The communities include Agboyi I, Agboyi II, Agboyi III, Okunagbon, Papa, and Ilaje. Agboyi-Owode has existed for about 600 years with only one Primary Healthcare Centre (PHC) for all pregnant women, nursing mothers and their children among others. While THISDAY toured the communities, which are majorly filled with sprawling old buildings, residents summoned zeal to air their plights, having given up hope of ever getting succor or attention to their medical and basic needs. Predicament For the people of Agboyi-Owode, their predicament sticks out a mile. First, pregnant women in labour at midnight resolve to self-

Alimat Azeez, with baby strapped on her back medicate, using paracetamol to kill pain. Others range from the 30 minutes drive from the community to Alapere to access a hospital every time a pregnant woman is in an emergency situation, absence of a standard hospital and health centre, absence of potable water for drinking, bathing and washing which they buy across the lagoon at N100 for a 25 litre-gallon. They also battle unstable and pricey antenatal and immunisation care for some mothers and babies, zero benefits of exclusive breastfeeding, to major use of Traditional Birth Attendants (TBAs). At the community, the opinion of 14 pregnant women and nursing mothers were sought and they were unanimous in their quest for a decent primary healthcare centre, a standard hospital, and orthodox medicine, among several other demands, all geared to save mother and child. Oreoluwa Olajide is heavily pregnant with her first child. She patronises the TBA in Agboyi II, the only herbal centre in the entire community. "I use Iya-alagbo (TBA) for antenatal. That is where I registered,"

Adeola Bamigbade and baby

while explaining softly her preference for the herbal centre, she added, "I like it there and I'm more comfortable with it. They give me concoction, not oyibo (orthodox) medicine". Olajide also revealed to THISDAY that she paid N500 or N1,000 for antenatal at the TBA whenever she was to take something special, otherwise it is free. "I go daily, they haven't told me how much for delivery yet." Ayomide Olabintan is 26 years old, and pregnant with her second child. Although she had her first child at the TBA seven years ago, she plans to have her second baby at the health centre. "I changed the place because the Iya-alagbo (TBA) woman that delivered my first baby has moved out. "Iya-alagbo (TBA) and the health centre collect the same fee of N5,000 for registration," she chuckled. However, Olabintan revealed that she paid N15,000 at the TBA for delivery whereas the health centre charges N20,000. "If I fall into labour at night, I will go to

If a woman has an emergency, we cross the lake, then drive 30 minutes (three kilometres) to access the nearest hospital at Alapere....There are some patients, that do self-medication, using paracetamol to kill pain when in labour at night or midnight

the TBA. Health centres don't work until evening, much less at night. I've made preparations," Olabintan explained, smiling constantly. Twenty-eight-year-old Kafayat Atanda is four months pregnant with her third child. Although she seemed reserved and unexposed, she skipped several questions put across to her despite the interpreter helping out in the Yoruba Language. She stood at her wooden net doorpost in a ruined building like one under arrest. "I had all my babies at Iya-alagbo (TBA)", she whispered, staring at the unseen. "I don't know how much my husband paid. And I use Iya-alagbo because the health centre is expensive." Now, despite endorsing TBA for her child deliveries, Atanda takes her children to the PHC for immunisation, which she admits is at no cost. "I even got a mosquito net when I had my baby." However, on the needs of the community, the mother of three exclaimed mildly in Yoruba, "Ah! We have many things to demand. The government should build a new health centre for us. We don't want our children to be falling sick anymore, and nobody to treat them." For 21 years old Aminat Lawal, it is her first pregnancy. She had no idea of the charges at the TBA she uses. In her words, "My husband pays for it. I don't know the amount." While the decision to use the TBA is solely her husband's, she echoed Atanda's claim that the health centre is more pricey than the TBA. For the nursing mothers, Kafayat Bamigbade, a 22-year-old widow, is from Agboyi III. Sitting on a wooden stool right outside a faded ground-floor building Bamigbade said she lost her husband 10 months ago when her baby was only four months old. "I gave birth to my baby girl at the health

T H I S D AY ˾ ͯʹ˜ ͰͮͰͯ

FEATURES

Oluwatoyin Ademola and baby centre. I had my antenatal there for free, but paid N25,000 for delivery. I didn't get anything like a mosquito net. I go there for immunisations," says Bamigbade, the vocal woman. The young widow is determined to hunt for another health centre outside the riverine area. Speaking passionately in both pidgin English and the English language, Bamigbade lamented, "When I want to give birth again, I won't go to that health centre. They don't give us anything like pampers, food and all those things a new mother gets in other hospitals. "At my former place, if a woman gives birth, the hospital would give her pampers, baby formula, mosquito net and more. But not so in this PHC. I will look for a health centre across the lake. The health centre doesn't do us well. I don't know if it is because of the environment." Listing her needs, she said with excitement: "First, the government should give me and other women money (empowerment)," she chuckled, "I'm a widow. I hawk sachet water in Ketu with my baby on my back every day just to feed. Then the government should send nurses and doctors that will treat us well." "Our children need healthcare. My baby has had a cough and catarrh for a long time. I took her to the health centre, and the nurses wrote a list of medicine, which she made available to THISDAY (costing N1,700 only)." Bamigbade, however, regretted that she didn't have the money to buy it. "So since I have paracetamol in the house, I give it to her to drink. Then I breastfeed her." Toyinola Bode is 25 years old. She is nursing a four-month-old baby boy, her first child. She expressed, "I had my baby at the health centre. I paid N30,000. I didn't get a mosquito net, but the health centre at Agboyi III gave me a pack of pampers," she grumbled, "I had my antenatal there, but I didn't go often because I didn't have money. It was N1,000. And I haven't started immunisation for my baby, but my friends advised me to take my baby there, that it's N500." Bode's needs are simple. She, like the others, asked that the immunisation be made free for them. "I have no work. I learnt hairdressing but I don't have money to start. My husband is a taxi driver". Ewatomi Ibrahim is a first-time mother as well, with a nine-month-old baby boy, who looks rather frail for his age. "I had my baby at Iya-alagbo (TBA). I paid more than N20,000 for delivery. I like how they treat me," she said, smiling playfully, "And I like the TBA more than the health centre." As a petty trader, Ibrahim pleaded that the government should empower the women of the community, improve the health centre and send them more nurses. For Duni Abiono, she is a mother of three. Her third baby is three months old, and she had them all at the TBA. "I gave birth at Iyaalagbo (TBA) just like my two other babies. My husband paid the bills; I have no idea what it cost."

Roﬁat Abdulrazaq and baby

Noﬁsat Babatunde and baby

Frontview of Agboyi-Owode lake At the TBA just like health centres, Abiono was given herbal concoctions only during antenatal. "I like TBA. I prefer it. They treat me very well. The health workers from the PHC always come out to immunise our babies at home." Despite expressing a preference for TBA, the mother of three hoped that some day the state government would put more equipment in the health centre, and train more TBAs, too, for their healthy living. Meeting Aminat Razaq, a nursing mother of a four-month-old baby in Agboyi II, was fun. She said, "I had my three babies at the TBA. I paid N7,500 for the first delivery, N10,000 for the second, and N15,000 for the third child." Although she uses the TBA, Razaq conceded that nursing mothers and pregnant women are not given insecticidetreated nets despite how swampy the area is. "No, we don't get mosquito nets. I still use TBA because that is where I can afford," she admitted. She, however, wailed in the Yoruba

language, as other female residents hanging around hailed her, "I would want the government to give us enough doctors," the women echoed her words, "and equipment in the health centre. We need a hospital, too". The women around cheered and hailed Razaq with clap ovations. Alimat Azeez is nursing her second baby, who is four months old. Her first baby is two years old now. She had them both at the health centre. Just like a few other women, she had no idea of the delivery bill; her husband made the payment, she revealed. Although she admitted that she was well-treated at the PHC, she bemoaned that she was not given a mosquito net. "I still take my baby there for immunisation." Azeez soon chorused the words of the others when she genuflected, "Government should give us health workers, put equipment there, and more doctors to help us. Government should please help us. We are suffering. We need good healthcare for ourselves and our babies".

Our children need healthcare. My baby has had a cough and catarrh for a long time. I took her to the health centre, and the nurses wrote a list of medicine (costing N1,700 only) but I didn't have the money to buy it. So since I have paracetamol in the house, I give it to her to drink. Then I breastfeed her

When 21-years-old Oluwatoyin Ademola heard a reporter was in the community, she dashed out of a worn-out structure, panting delightedly. "I want to speak," she indicated in Pidgin English, with her right hand raised. Although Ademola's baby is already nine months old, she is yet to take him for immunisation, thereby defying recommendations from the Centre for Disease Control (CDC) that at one to two months old, babies should receive vaccines to protect them from diseases like Hepatitis B, Diphtheria, tetanus, and whooping cough, Haemophilus influenzae type b disease, Polio, Pneumococcal disease, and Rotavirus. She recalled: "I gave birth to him in my village then brought him here. I'm breastfeeding and giving him food. But when the next immunisation session begins, I will take my baby to the health centre,". She further pleaded to the state government to come to their rescue before they get consumed in the flames of agony. Swiftly on the heels of Ademola's interview came Nofisat Babatunde, whose third baby is one year and two months old. Although the 28 years old swears allegiance to PHC, she doubts their plea for a better health service would be given any attention. She recounted: "I had my three children at the health centre. I paid N20,000 for each of them. I often pay N500 for antenatal every Thursday. But immunisation is free. I was not given any mosquito net when I had my babies. So, the government should give us doctors and health workers to treat us morning and night. We struggle to feed daily. We need help." Another nursing mother, Rofiat Abdulrazaq is anything but reserved. She was ready to air their tales of woe. "My baby is one year and two months old. He is my first child," she chipped in. "I gave birth to him at the health centre. I don't know how much my husband paid for delivery. But I pay N500 for immunisation." And again, Abdulrazaq beckoned on the government to equip the health centre for them. "They should put a lot of equipment in it like the ones outside this river place (township)." Describing her daily struggles, she pointed out, "I hawk bread in Ketu to feed even though I trained as a hairstylist. We have no money to begin any trade. We need government empowerment so we can start small businesses." Abiola Michael is a nursing mum. While her first child is five years old, her second baby is a year and three months old. She explained, "I had my babies at the health centre. I paid N20,000. I was given a mosquito net, and I had my antenatal and immunisation there - both for free." On what her hopes were, Michael said, "The government should make the health centre better like the ones we see outside", she switched deliberately, "I'm a trader. If the government can empower us as women, we will work hard and earn a living." Continued on page 23

T H I S D AY ˾ ͯʹ˜ ͰͮͰͯ

FEATURES

Unanimous Quest for Decent Healthcare for Agboyi-Owode Lagos Community

Oreoluwa Olajide Indeed, seeing their health needs and the challenges they face to access quality health care for the women and children, residents of Agboyi-Owode settle for TBA, who deliver pregnant women at night, and at midnight. Alternatively, pregnant women in labour or emergency cases get help from the only resident, who owns a car in the community, to drive them 30 minutes to Alapere to access a hospital. Community Voices Speaking with the chiefs and elders in Agboyi communities, Chief Bilaminu Adeniru Oguntola, the Olugbede of Agboyi III, lamented: "We have one health centre in Agboyi I, but it is the same old PHC. It has been for ages and that is the one the communities are using." Now, Taiwo Bankole is a youth and resident in the community, very eloquent and well-informed. He is one of the over 100 youth who have successfully graduated from various universities across the country. He has also witnessed the anguish of nursing mothers, pregnant women, children, and the general anxiety of his people. His worries that "the children go to secondary school at Bariga, and Mile 12 among other far away places. Many of the youth here are unemployed despite being graduates, and that discourages the younger ones. The youth need employment, too. We need health care. Our women and children need better health care services, too to keep them alive." Near Death Experience at Midnight According to Oguntola, in spite of the presence of health workers and necessary medical instruments at the health centre, it would not be like the hospitals out there. "It is just first aid we are given at the PHC. The personnel refers patients to the hospital if they don't have the capacity, depending on the situation of the patient. Yes, they accept pregnant women; no, they don't have the wherewithal to do CS; and the health centre does not operate 24 hours service," he highlighted. In the words of the honourable, when a pregnant woman is in any emergency, "We cross the lake, then drive 30 minutes (three kilometres) to access the nearest hospital at Alapere." He reminisced about an obnoxious incident of a pregnant woman. "I heard a heavy knock at my door around 2am. I rushed out quickly and had to take her to Alapere. If not because I have a car, ah, the lady would have died." There are some patients, he narrated, that do self-medication, using paracetamol to kill pain when in labour at night or midnight. Still, he expressed gratitude, "We have not recorded any deaths since we have been having the emergency cases, luckily. "Most pregnant women fear going to the hospital because of the amount of money. In the process of trying to attend to a pregnant woman, if the case is beyond their strength, they would quickly refer the woman to the hospital."

Duni Abiono with baby strapped on her back

Health Needs Oguntola's list includes an urgent need for a standard hospital and medical equipment that will meet the demand of the dwellers. "Most importantly, the health workers should operate 24 hours to help us. There are some minor problems that don't need to be taken to the hospital. "To access hospitals, residents must first go across the lake with the help of a canoe, then take a bike or a tricycle if the sick person is too weak. We need a bridge. We have a primary school: form one to three is in another area while form four to six is somewhere away. So, we continue to clamour for a secondary school." Common Disease among Children With several children under five missing out on immunisation and proper health treatment, the chief disclosed that the common diseases among children are malaria and cough. Meanwhile, Oguntola decried lack of water and its high cost. "The major problem in the whole community is water. We buy water at N100 for 25 litres. When the former Governor, Akinwunmi Ambode, was there they did the cost for a bridge, but when the current Governor, Babajide Sanwo-Olu, came in he promised to build the bridge. "We are suffering because of water. We were drinking, cooking with this lake water over 57 years ago until the government came with channelisation of the canal and polluted our source of water." Venting his displeasure in a most coordinated manner, Mr. Ogunseye Ebenezer Babatunde, a chief and Secretary of Agboyi III, divulged their yearnings. "Any government in power is only there for a limited time. The problem we have is continuity. Once the bridge is done, other development projects will come in which will benefit the people," he suggested, "If they do the bridge, they can connect a water pipe to the community. We experience the problem of moving building materials into this place because there is no bridge." Babatunde soon harped on the significance of education, which he described as key. "The current government we have --'', heaving a deep sigh and a pause, "God help us. Sometimes, they accuse us of not

Abiola Michael and baby

cooperating with them. One PHC is not enough for the entire population. One well-equipped general hospital for our women and children, especially during pregnancy." The Birth Attendants Owing to the fact that the only PHC in the community closes at 4pm every Monday to Friday, residents have ensured that there are birth attendants to cater to the needs of pregnant women especially at night. One of the five TBAs is Mrs. Aishatu Jimoh. She operates in Agoyi II. Although she regretted that she wasn't sure of her age, the elders around confirmed she is in her 90s. Despite her deem eyes, quivering voice, Jimoh, who is petite in nature, seems agile in carrying out her duties. She climbed the foot paths gently to access a chair, and we kicked off the interview. Bending forward on the armless plastic white chair to ensure this reporter recorded her voice clearly, she recalled cheerfully in the Yoruba language, "I have been delivering pregnant women for over 10 years now. I attend the Lagos State training for TBAs at the council for training for more traditional education, which doesn't come often." According to her records, Jimoh attends to over five pregnant women in a year. "But I haven't delivered any pregnant woman this year." When asked if she has recorded any deaths so far, she interrupted, "Olorun maaje (God forbid)! No pregnant woman has died." Chief Abiodun Asipa is the male TBA in Agboyi II in the last 30 years. He is about 400 metres from Jimoh. He offered this reporter a chair, as he settled for a wooden stool beside his doorpost. "I have been doing this business for about 30 years. As TBAs, we have a group and we attend meetings. We also visit the Lagos State government whenever we are invited. "I have a specific day I attend to pregnant women for antenatal - Thursdays. But delivery is everyday," he noted. "Sometimes I have more than five deliveries in a month. I am not only involved in delivering pregnant women, I also attend to other health issues such as breast cancer and other related diseases." Just like Jimoh, Asipa administers only

It is just first aid we are given at the PHC. The personnel refers patients to the hospital if they don't have the capacity, depending on the situation of the patient. Yes, they accept pregnant women; no, they don't have the wherewithal to do CS; and the health centre does not operate 24 hours service

herbal concoctions to patients. However, he has three apprentices Including two males. He clarified, "Whenever the pregnant women need antenatal care, I direct them to a clinic where they will give them an injection," as he clearly affirmed that no mother or child has died since he began this business. He, therefore, pleaded: "I want the government to help us. Here we live in the riverine area. They should assist us with equipment. Sometimes at night when they bring pregnant women for delivery they have to cross the river and it is stressful. "This equipment will reduce stress. We are more than two that are into this business in Agboyi, but I'm the only one delivering pregnant women here. Also, the government should put a modern health care centre in addition to the one in Agboyi III. Even if they decide to employ us to work there, we are ready." Lagos State Training for TBAs Now, when the Lagos State government realised how much pregnant women couldn't do without TBAs in their communities, it flagged off a six-week training and orientation programme for over 190 TBAs in the state in 2011. This way, more skilled birth attendants would be available, thereby, reducing maternal and infant mortality in the state and in the country. The Registrar, Lagos State Traditional Medicine Board, Dr. Bodunrin Oluwa said the training is one of the statutory functions of the board. And it will enlighten the attendants on the knitty- gritty involved in child bearing as well as challenges faced in a modern world as regards mother and child mortality, adding that. Maternal Mortality in West Africa Today, Nigeria maternal mortality rate (MMR) according to the Nigerian Demographic and Health Survey (NDHS) of 2018, when 100,000 women go to have babies, 512 of them die in the process. This is a significant reduction from the estimate in 2015 by the World Health Organisation (WHO) which recorded 800 maternal deaths per 100,000 live births. In a 2017 data analysis by the World Bank, it shows that while Ghana's current MMR declined from 760 per 100,000 live births in 1990 to 308, Togo is currently at 396. Regrettably, others with leading MMR are: Guinea-Bissau at 667, Gambia at 597, Guinea at 576, Cameroon at 529, Benin Republic at 397, and Burkina Faso has the lowest at 320. Sadly, this shows that these West African countries including Nigeria are yet to achieve the Sustainable Development Goal (SDG) target of 70 per 100,000 live births in 2030. Truly, dwellers of Agboyi-Owode have a unanimous need - to enjoy equal access to quality health care services like other citizens in the township. If the state government would build one more health centre, and replicate the same energy as seen during political campaigns in their community, then Agboyi-Owode residents would be sure of improved maternal and child care.

MONDAY AUGUST 16, 2021 • T H I S D AY

T H I S D AY ˾ MONDAY AUGUST 16, 2021

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

OBB OVERNIGHT

16.75% 17.25 %

A T

Group Business Editor Eromosele Abiodun

Email oriarehu.eromosele@thisdaylive.com

08056356325

A U G U S T

S & P INDEX

1 2 , 2 0 2 1

S & P INDEX

CALL 1-MONTH

4% 6%

INDEX LEVEL 1-DAY

547.96% 0.51%

3-MONTH

10%

MONTH-TO-DATE

2.00%

EXCHANGE RATE

1/4 TO DATE YEAR TO DATE

2.8% -18.25%

N410.80/ 1 US DOLLAR* *AS AT LAST FRIDAY

FBH Holdings, Sterling Bank, Four Other Tier-2 Banks Generate N59.7bn from Account Maintenance, E-banking Fees in H1 202

Eromosele Abiodun and Darasimi Adebisi With more Nigerians increasingly relied on mobile banking for transactions while avoiding banking halls for fear of contracting Covid-19, Nigerians banks are raking in immense gains with six Tier-2 banks earning a whooping N59.7 billion in the first quarter of 2021 alone. In line with the banks focus on revenue diversification, analysts said banks have continued to grow their non-interest income, as they progressively become more transaction-led

institutions while implementing technological driven measures to improve efficiency. Data collected by THISDAY revealed that FBN Holdings and five other Tier-2 banks operating in the country generated a total of N59.7billion from their customers’ current account maintenance and electronicbanking income in first half (H1) of 2021. These six financial institutions in prior first half of 2020 generated N44.55billion from the account maintenance and Electronic-banking income. The Tier-2 banks are Sterling Bank Plc, Union Bank for

Nigeria Plc, Wema Bank Plc, FCMB Holdings Plc and Unity Bank Plc. Analysis of the banks results in the period under review revealed that they aggressively engaged in nonbanking activities to grow profit at the detriment of numerous customers. However, analysts believe that banks will face stiffer competition on fees and commission income this year as challenger Banks such as Kuda Bank, V-Bank, among others have capital to contest favourably. These banks offer zero fees as an attractive selling point, which

they hope will sway customers from the big banks who were monetizing their E-banking platforms, among others. Further analysis revealed that the six financial institutors growth in fee & commission in the first six months of 2021 was primarily driven by customers’ current account maintenance and Electronic-banking. The Central Bank of Nigeria (CBN) in its guide to charges by banks, other financial and non-financial institution effective January 1, 2020 stated that, “Current Account Maintenance Fee (CAMA) is applicable to current accounts only in respect

of customer-induced debit transactions to third parties and debit transfer. Lodgements to the customer’s account in another bank.” The apex bank explained that CAMF is not applicable to savings accounts, stressing that a negotiable subject to a maximum of N1 per mille. The Senate had raised concern over current account maintenance fee, stressing that banks are overcharging customers. The apex bank in 2013 had commenced phased reduction of Commission on Turnover (CoT), which terminated with

zero CoT charge. However, the breakdown revealed that account maintenance fees generated in H1 2021 by these six banks was N14.27billion, an increase of 44.6per cent from N9.86billion reported in H1 2020 while Fees on electronic products grew by nearly 31 per cent to N45.43billion in H1 2021 from N34.69billion reported in H1 2020. According to finance analysts, the newly Unstructured Supplementary Service Data (USSD) fees in June of 2021 that Continued on page 26

Third Party Motor Insurance: Insurers Lose N530bn Revenue as Accident Cases by Uninsured Vehicles Soar Ebere Nwoji Continued negligence of the compulsory third party motor insurance policy among road users in Lagos and other parts of the country despite efforts to curb this by insurers through the Nigeria Insurance Industry Data Base (NIID), is starting to have a multiplier effect on Nigerians and huge revenue loss to insurers, THISDAY investigation has revealed. While both insurance operators and law enforcement agents continuing their fight against fake motor insurance certificate sellers and its associated problem of road

accident without compensation to the third party, the greatest problem currently confronting the duo are increasing number of uninsured motor cycles popularly called Okada and incessant road accident caused by the operators. Analysts told THISDAY that the Nigerian insurance industry loses about N530 billion ($1.28 billion) yearly as a result of failure by vehicle owners to purchase the compulsory Third Party motor insurance. THISDAY findings revealed that out of about 11.8 million registered vehicles plying the roads, only 1.2 million of them have valid insurance certificates.

This, situation analysts said, has deprived insurers the premium and has exposed many road users to the menace of hit-and-run vehicle users. Meanwhile, investigation by THISDAY showed that in various axis in Lagos, especially routes that are prone to heavy traffic jam, incidence of deaths and permanent disabilities caused by the okada riders abound on daily basis. A case in point was a recent accident over the weekend involving an Okada rider plying Iyana Iba road in Ojo Area of Lagos towards Mile 2 along Lagos Badagry Express Road and one Mrs Eucharia Okafor, a

pedestrian walking along Iyana Iba-Volkswagen road shortly before Ojo military barracks. Okafor, it was learnt, was walking by the roadside towards Volkswagen bus stop and was suddenly knocked down by an Okada rider who left the express road to ply through a small pathway left for the pedestrians. Okafor fell down instantly shouting for help in the pull of her own blood while the Okada rider did not stop for one minute to look at the seriousness of the injury his bike has inflicted on the woman. This raises the question as to what both the insurers and

the law enforcement agents are doing about the number of motorcycles plying Nigerian roads especially Lagos without the compulsory Insurance cover. Indeed, some motorcycles on Lagos road ply without even plate number. Insurance operators who lamented the ugly trend, stated that the fruitless effort to get the Okada riders insured is a huge loss to the insurance industry and dangerous to other road users. The Director General, Nigeria Insurers Association, Mrs Yetunde Ilori, told THISDAY that through the NIID, insurers would one day ensure

that every vehicle user on Nigeria road is caught in the compulsory insurance net. She said insurers are not sleeping over the matter adding that compulsory motor insurance is not the only policy jumped by Nigerians but also marine insurance. She was however optimistic that the insurers will definitely win the battle one day while she advised Nigerians to willingly comply with the law. Okafor’s case is just but one out of numerous similar cases in Lagos. Fatal cases than the Okafor Continued on page 26

M A R K E T D ATA A S AT F R I D AY, A U G U S T 1 3 , 2 0 2 1 FGN BONDS DESCRIPTION Friday, August 13, 2021 10.301 FGNSB 16-AUG-2021 11.150 FGNSB 11-SEP-2021 12.364 FGNSB 12-SEP-2021 12.175 FGNSB 10-OCT-2021

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

100.21

3.17

0.31

NTB 26-Aug-21

2.76

2.76 0.00

100.19

3.16

0.30

NTB 9-Sep-21

2.80

2.81 0.00

100.78

3.13

-0.03

NTB 16-Sep-21

2.82

2.83 0.00

100.92

3.12

-0.04

NTB 30-Sep-21

2.87

101.59

3.08

-0.41

NTB 14-Oct-21

2.91

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS AUG 25 2021 420.93

NGUS SEP 29 2021 422.38

NGUS OCT 27 2021 423.83

2.88 0.00

NGUS NOV 24 2021 425.28

2.93 0.00

NGUS DEC 29 2021 426.73

C Ps MATURITY

Discount Yield

Change (%)

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

3.89

3.90

0.00

9.84

9.88

0.00

4.24

4.25

0.00

3.79

3.80

0.00

4.46

4.48

0.00

MONDAY AUGUST 16, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

ENSURING MARITIME SECURITY…

L-R: Deputy Governor of Ondo State, Honorable Lucky Aiyedatiwa; Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh; Chief of Air Staff, represented by Chief of Training and Operations, Air Vice Marshal JMD Gwani and Commander, 301 HAG, Air Commodore PO Obeya during the graduation ceremony of air assets trainees of the Integrated National Security and Waterways Protection Infrastructure also known as the Deep Blue project at the Air Force Base Hanger 301, Heavy Lift Group, Ikeja, on Friday.

FIRS: Over N17bn Tax Remittances Owed By Companies, Addresses of Affected Firms Not Traceable Deji Elumoye in Abuja The Federal Inland Revenue Service (FIRS), has owned up to N17.69 billion tax evasion by some companies whose addresses it claimed could no longer be traced. This is just as the upper legislative chamber ordered the Executive Chairman of the agency, Muhammad Mamman Nami, to go after the defaulting agencies for recovery of said tax and remit it into Consolidated Revenue Fund (CRF) within 90 days. The Senate also directed FIRS to sanction its officers involved in alleged overlapping contracts and splitting between 2014 and

2015 and remit N32.44 million into government coffers within 90 days with evidence of compliance submitted to the Auditor - General and the Senate Public Accounts Committee. The decision by the Senate was sequel to the queries issued against FIRS and 104 other public agencies by the Office of Auditor - General of the Federation (AuGF) in the 2015 Audit report which was sustained and adopted by the Senate after considering the report of its Committee on Public Accounts as presented by the Chairman, Senator Mathew Urhoghide. The AuGF in the query on the N17billion unrecovered

taxes by FIRS had said: “The Federal Inland Revenue Service failed to recover the total sum of N17.69 billion from different companies in the year under review. The unrecovered taxes, he said, are made up of Value Added Tax ( VAT), Company Income Tax( CIT), Withholding Tax ( WHT), Education Tax ( EDT) and NITDEF. “Though the FIRS in its response to the query said it had recovered N2.87 billion but actual receipted recoveries made by FIRS was N273.03 million, leaving a balance of N17.41 billion to be recovered. Several companies were also discovered to have defaulted

in filling their Annual Returns many of which FIRS said could not be located due to change of addresses, “he said. The Senate in adopting the report shortly before going on annual vacation directed the Chairman of FIRS to recover the money and pay to the Consolidated Revenue Fund, while it also called for blacklisting of all companies that failed to file their annual returns. The Red Chamber further stressed that, “evidence of compliance should be forwarded to the Public Accounts Committee.” The upper legislative chamber also took tougher stand over alleged contract overlapping and

splitting by some officers of the revenue-generating agency by calling for their identification and sanctioning. Another query by the AuGF against the FIRS reads: “A contract for the sum of N32, 667,600.00million awarded by FIRS , was split and distributed to four companies, whose submissions were earlier rejected mainly to accommodate the approval ceiling of the Chairman, contrary to Financial Regulations 2921. “The Audit also revealed that a total of N32, 449,743,61million contracts under recurrent expenditure were awarded by the agency in the 2014 financial year and paid for in the month

of January, 2015, contrary to financial regulation 414(b)”. In adopting the report of the Auditor-General, the Senate directed FIRS to pay the contract sum back into government coffers and submit evidence of compliance to the office of Auditor General of the Federation and its Committee on Public Accounts. With the Senate’s resolutions on the N17billion unrecovered taxes and N32million Contracts splitting and overlapping, the FIRS has about 60 days left, to make the required recoveries and remittances into the government coffers through the Consolidated Revenue Fund (CRF).

FG Earmarks N59bn for Rural Roads Development Adibe Emenyonu in Benin City The Minister of State for Budget and National Planning, Clem Agba, has disclosed that a total of N34 billion has been set aside by the federal government for the development of rural roads, with additional N17 billion added to it, under the sustainability planning.

Agba explained further that the above figures added with the N8 billion from the 2021 budget for rural development, brings the total to N59 billion. The minister, made the disclosure in Benin City, Edo Stare, at the 7th Biennial Retreat 2021, organised in his honour by the Weppa Wanno Pyramid Club of Nigeria, with the theme:” Security Challenges

In Our Communities: The Way Forward.” He noted that, community development is a primary responsibility of the sub-national government, and not the federal government alone. According to him, “Community development is a primary responsibility of the sub-national government, not the federal government. But, the federal

government is doing a lot. “ He stressed that with the N34 billion earmarked for rural roads, in addition to N17 billion under the substainability planning, and another N8 billion for the 2021, budget for rural development, the federal governor was set to doing more work for a responsibility meant for the sub-national governments.

On how he feels, received an award from the group, Agba said: “As a normal human being, I feel happy, good, encouraged and elated because it means; what I am doing is on the right path.” He added: “They are trying to motivate me to continue the good work. Although, one does not look forward to getting award for doing what is right, however, I just believe in doing

the right thing.” Commenting on the theme of the event entitled:” Security Challenges In Our Communities: The Way Forward,” the Keynote Speaker, Dr. Kennedy Izuagbe, asserted that the police and other security agencies should be equipped with the modern security gadgets to combat crimes in rural areas, especially in Afeamai land.

FBH HOLDINGS, STERLING BANK, FOUR OTHER TIER-2 BANKS GENERATES N59.7BN FROM ACCOUNT MAINTENANCE, E-BANKING FEES IN H1 2021

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

mandated a flat fee of N6.98 per transaction every time drives banks’ E-business income. According to analysts, “The Covid-19 pandemic also played a major role in bank performance as it affected the expansion of the digital rollout plans earlier on in the year. However, the pandemic will swing in their favour as Nigerians increasingly relied on mobile banking for transactions while avoiding banking halls for fear of contracting Covid-19.” Further breakdown revealed that FBN Holdings reported N28.8billion fees on electronic

banking products in H1 2021, 32.7per cent increase over N21.7billion reported in H1 2020 while Account maintenance fees also grew by 42 per cent to N7.9billion in H1 2021 from N5.59billion reported in H1 2020. The Group Managing Director, FBN Holdings, U.K. Eke had said: “The macro and socio-economic conditions remain challenging given the COVID-19 pandemic and the low interest rates environment. While these points negatively impacted overall revenue generation, we are

confident that FBN Holdings can navigate this challenging operating environment and keep delivering sustained innovative solutions that enrich customer experience as well as deepen financial inclusion.” The Chief Executive Officer of First Bank and its subsidiaries, Dr. Adesola Adeduntan had said benefits of the Bank’s investments in strong transactional and digital banking capabilities reflected in the solid 50.1per cent growth in non-interest income, and supported the 15.2per cent, 26.4per cent and 12.5per cent growth

in customers’ deposits, loans and advances to customers and total assets, respectively. In the same period, FCMB Holdings’s electronic banking grew by 54.4 per cent to N6.69billion in H1 2021 from N4.33billion reported in H1 2020 while Account maintenance closed H1 2021 at N2.17billion, 31 per cent increase from N30.54billion in H1 2020. The Managing Director, FCMB Limited, Mrs. Yemisi Edun noted that the bank’s Non-interest income increased by 25.5 per cent QoQ and 5.4

per cent YoY, attributable to increase in fees and commission due to an increase in transacting customers’ activities and alternate platform reliability. In her presentation to investors and analysts, she disclosed that digital payment’s revenue was N6.7billion, representing 11 per cent of gross revenue and 51 per cent of gross fees & commissions. According to her, mobile, cards and alternate channels payments are driving the strong digital revenues and will continue to see traction.

THIRD PARTY MOTOR INSURANCE: INSURERS LOSE N530BN REVENUE AS ACCIDENT CASES BY UNINSURED VEHICLES SOAR incident abound spelling the need for more serious fight especially by law enforcement agents against use of fake insurance certificates and violation of the compulsory

third party motor insurance law. The Third Party Motor Insurance policy is one of the compulsory insurance policies in Nigeria.

It is the legal minimum level of motor insurance cover any motor vehicle owner plying the Nigerian road is required to have. Beyond the fact that Third

Party Motor Insurance is compulsory by law, the benefits of the policy make it a must-have for every Nigerian motorist. The policy takes care of the

damage caused by the insured to the third party’s property or vehicle, also the Third Party’s medical expenses (if any) in the event of an accident, when the policyholder is at fault.

T H I S D AY ˾ MONDAY AUGUST 16, 2021

BUSINESSWORLD

STATUS REPORT

Dangote Cement: Significant Increase in Revenue Thrusts Profits

Darasimi Adebisi

angote Cement Plc unaudited result and accounts for half year ended June 30, 2021 (H1) showed impressive performance in revenue and modest performance in net finance that impacted positively on profit before tax and profit after tax. The company’s double-digit increase in revenue was largely driven by higher sales volumes, as well as improved cost management during the period, which drove margin expansion. The cement manufacturing company recorded increase in volume of both cement and clinker volumes to 14,550,000 tonnes in H1 2021 from 11,674’000 tonnes to drive revenue from sales of cement & clinker to N690.55billion in H1 2021 from N476.84billion reported in H1 2020. During the H1 2021 period, Dangote cement revenue increased by 44.8 per cent to N690.5billionn from N476.85billion recorded in H1 2020, supported by a 26.1per cent surge in volumes sold to 15,277 metric tonnes in H1 2021 from 12,114 metric tonnes and 14.5 per cent increase in revenue-per-tonne to N45,133.66 which was attributed to lower rebates and price increment during the period. The impressive growth was reflected in both the Nigerian and Pan-African market segments, as sales volumes were up by 33.2per cent and 15.5 per cent, respectively. In Nigeria alone, Dangote cement generated N494.14billion in revenue from N332.38billion reported in H1 2020, while Pan Africa revenue closed at N198.6billion in H1 2021 from N145.03billion The substantial growth in revenue reflected a sustained strength in construction activities post-Covid-19 in Nigeria and sub-Saharan Africa, which continued to drive cement demand across the sector. Notably, the company resumed clinker exports from the Apapa and Onne terminals in second quarter of 2021 with volumes up 103.6per cent to 57.0Kt. Additional analysis showed that the new 3mmt Obajana line supported volume of growth.

OPERATIONAL EFFICIENCY IN OPEX The company also weathered the storm of cost pressures, aided by price increments, with production cost of Sales increasing by 36.4 per cent to N276.12billion in H1 2021 from N202.42billion in H1 2020. The pressure on Cost of Sales mostly spring from material consumed that grew by 46.7per cent to N93.97billion in H1 2021 from N64.06billion reported in H1 2020 and Fuel & power costs that rose by 53.5per cent to N98.98billion in H1 2021 from N64.5billion reported in H1 2020. Plant maintenance cost also increased by 45.13per cent to N20.68billion in H1 2021 from N14.25billion reported in H1 2020. The Key factor that contributed to hike in production cost of sales was the weakening naira and persistent price pressure on energy sources. As revenue growth outpaced growth in Cost of Sales, Gross Profit grew by 51 per cent to N414.4billion in H1 2021 from N274.4billion in H1 2020 as gross margin to 60 per cent in H1 2021 from 57.6per cent in H1 2020. However, Gross Margin came under more

“We remain committed to protecting our team members and communities by being fully compliant with local laws and regulations. We recommenced clinker exports in the second quarter after taking the strategic decision to pause our clinker exports.” pressure from energy costs in Q2 2021 (58.6per cent compared with 61.5per cent in Q1-2021), which was attributed to global supply chain bottlenecks which impacted freight costs of imported energy (coal) and material (gypsum) inputs. Conversely, Dangote Cement’s total operating expenses (OPEX) rose by 14.1per cent to N118.28billion in H1 2021 from N103.69billion reported in H1 2020. The increase in total operating expenses was driven by 17.9 per cent increase in administrative expenses to N30.71billion in H1 2021 from N26.05billion in H1 2020 and 13 per cent rise in selling and distribution expenses to N87.6billion in H1 2021 from N 77.64billion reported in H1 2020. As gross profit growth printed ahead of OPEX growth, Dangote cement proved operationally efficient with OPEX/revenue ratio contracting from 21.7per cent in H1 2020 to 17.1 per cent in H1 2020. This supported a 5.1 per cent expansion in group EBITDA margin to 50.8per cent, as EBITDA expanded 61per cent to N351.1billion. The company’s other income grew significantly by 120.8 per cent to N6.05billion in H1 2021 from N2.74billion recorded in H1 2020, buoyed by N5.84billion Sundry income in H1 2021 from N2.4billion reported in H1 2020. Profit from operating activities for the period closed H1 2021 at N302.2billion from N173.5billion reported in H1 2020. From the company’s loss & figures, finance income for the period closed at N9.4billion from N10.23billion reported in prior period as finance costs also dropped to N30.35billion reported in H1 2021 from N20.85billion reported in H1 2020. The increase in Net debt coupled with a N10.6bilion foreign exchange loss in Q1 2021 led to a 32.1per cent spike in Net finance cost to N20.4billion in H1 2021. With decline in finances, Profit Before Tax rose by 72.7 per cent to N281.3billion in H1 2021 from N162.85 billion in H1 2020. Notably, a 141.2 per cent increase in tax income to N89.6biillion in H1 2021 from N36.71billion in H1 2020, dragged profit to N181.6billion in H1 2021 from N126.14billion reported in H1 2020. Earnings per share (EPS) increased to N11.21 kobo in H1 2021 from N7.45 kobo in H1 2020.

BALANCE SHEETS During the period under review, Dangote Cement’s Total Assets inched up by three

per cent to N 2.07 trillion as at June 30, 2021 from N2.02billion in reported in full year ended December 31, 2020. The company’s total balance sheet dropped by nearly 10 per cent to N805.03billion as at June 30, 2021 from N890.97billion reported in 2020.

OUTLOOK According to analysts at United Capital, “Going into H2 2021, we remain optimistic on Dangote cement and expect the company to sustain double-digit growth, albeit at a slower pace relative to H2 2020, given the relatively high base from the period. On a macro-scale, we are optimistic about economic recovery in Nigeria and Sub-Saharan Africa, as well as sustained cement demand, which has driven capacity expansion plans. Additionally, price increases actioned in the first half of the year will help sustain topline growth and margins, as costs remain pressured. “Furthermore, we see further room for price increments during H2-2021 as demand remains strong and inflationary pressures persist. However, risks to a more robust H2 2021 performance include disruptive rains in Q3-2021, an intensified third wave of Covid-19 in SSA and attendant lockdowns, persistent disruptions in global supply chains, higher freight prices, further naira devaluation and elevated inflationary pressures. However, we observe that Dangote cement has done particularly well in the face of rising expenses and this bolsters our optimistic outlook. Specifically, we project FY 2021 Revenue growth of 28.7per cent to N1,330.9billion (prev. N1,168.3billion) and expect EPS to grow by 31.9 per cent to N21.4/s in FY 2021.” They, however, recommended that investors should HOLD the stocks of Dangote cement with upgraded target price. “We updated our forecasts for Dangote cement in light of the H1 2021 numbers which exceeded our expectations, as well as our optimistic prognosis for cement demand in H2-2021. Accordingly, we raise our target price on Dangote cement to N270.28 (previous: N253.70). This revision reflects our expectation of upbeat sales volumes, further price increases and sustained cost management, as well as favourable adjustments in computing the cost of equity. Our target price implies a HOLD rating and an upside potential of 11.9 per cent.” Commenting on the results, the Group

Managing Director, Dangote Cement, Michel Puchercos, said: “We are pleased to report a solid set of the good results for the first half of the year. Our performance reflects the strong demand across the Group, with increases in revenue and profitability, compared to the same period last year. “This strong intrinsic performance is magnified by the lower Q2 2020 results because of COVID-19. The growth trend continues, and we are focused on meeting the strong market demand across all our countries of operation.” On the steps taken by the company to protect the stakeholders, Puchercos said: “We also continue to maintain a strong focus on health and safety measures in all our engagements with stakeholders. We have learned a lot over the past year on how to mitigate risks associated with COVID-19. “We remain committed to protecting our team members and communities by being fully compliant with local laws and regulations. We recommenced clinker exports in the second quarter after taking the strategic decision to pause our clinker exports.This was to ensure we met the historic volume growth in the Nigerian domestic market since mid-2020. We are improving the output of our existing and new assets and I am happy to announce that our 3 Mt Okpella Plant, Edo State, is on track to come on stream in the next quarter.” Puchercos stated that the company’s Alternative Fuel project, which focuses on leveraging waste management solutions, reducing CO2 emissions and sourcing material locally, is at an advanced stage, while procurement and installation of the necessary equipment across all plants is ongoing. He added that Dangote Cement is focused on sound governance, saying: “We are leading the way with our commitment to sustainability and best practices. “We are driven by the goal of achieving the highest level of governance and building a sustainable brand for all stakeholders. Transparency and consistency are at the core of every part our business culture, ”he stated. Dangote Cement Plc is Sub-Saharan Africa’s largest cement producer with an installed capacity of 45.6Mta capacity across 10 African countries and operates a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales, and distribution of cement.The Group has a production capacity of 32.3Mta in its home market, Nigeria. It has three cement plants in Nigeria, Obajana plant in Kogi State, with 16.3Mta of capacity across four lines; Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta; and Gboko plant in Benue state has 4Mta. Through recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries. In addition, Dangote Cement has operations in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta).

MONDAY AUGUST 16, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

African Development Bank Leads on Climate Finance, Says UN Report Dike Onwuamaeze The African Development Bank (AfDB) has been distinguished as the only large development bank that spent more on climate finance to enable communities to adjust to the inevitability of climate change. The AfDB crossed the threshold of committing 32 per cent of its facilities to climate financing and edging toward achieving 40 per cent, its peers like the European Investment Bank is still at 11 per cent. This was affirmed by the United Nations Climate Panel Report that was put together by the Intergovernmental Panel on Climate Change (IPCC), which is titled “Climate Change 2021: The Physical Science Basis,” which addressed the most up-to-date physical understanding of the climate system and climate change, bringing together the latest advances in climate science, and combining multiple lines of evidence from paleoclimate, observations, process understanding, and global and

regional climate simulations. The report stated unequivocal that “human influence has warmed the atmosphere, ocean and land” and triggered “widespread and rapid changes in the atmosphere, ocean, cryosphere and biosphere that have occurred.” The AfDB doubled its climate finance commitments for the period 2020-2025, projecting to commit $25 billion on climate finance. The President of the AfDB Group, Dr. Akinwumi Adesina, said that the bank is on course to achieve its target of allocating 40 per cent of its funding to climate finance by 2020, a year ahead. The Bank’s commitment on the target, the highest among all multilateral development banks, has progressed steadily from nine per cent in 2016 to 28 per cent in 2017 and 32 per cent in 2018. “The required level of financing is only feasible with the direct involvement of the entire financial sector,” said Adesina. “Consequently,

the Bank launched the African Financial Alliance for Climate Change (AFAC) to link all stock exchanges, pension and sovereign wealth funds, central Banks and other financial institutions of Africa to mobilize and incentivise the shift of their portfolios towards low carbon and climate resilient investments.” The IPCC report said that the European Investment Bank spent 11 per cent of its climate finance for poorer countries on adaptation that year. It said: “Climate change is already affecting every inhabited region across the globe with human influence contributing to many observed changes in weather and climate extremes.” The report warned societies of the need to be ready for heat waves by creating public health infrastructure to cope with those who become ill and urged regions to rethink urban planning and development to steer communities away from high-risk zones, such as wildfire spots.

CapitalSage Raises $4 Million to Fulﬁll Expansion Agenda Ugo Aliogo CapitalSage Technology Limited, an integrated fintech group in Nigeria, has successfully raised $4 million (N2.2 billion) in a Series 1 Private Company Notes (“PCN”) issuance, under its

N10 billion programme, to accelerate the company’s growth across different markets both in Nigeria and Africa. A statement by the fintech said the Series 1 issuance, with a 365-day tenor, was subscribed with firm com-

LAPO Gets TETfund Merit Award

Sunday Ehigiator

In recognition of its contributions to the development of Tertiary Education, through remittance of taxes, LAPO Microfinance Bank, has been rewarded with a merit award by the Tertiary Education Trust Fund (TETfund). In a statement, the company said in spite of the various socio-economic challenges, it has remained faithful to its values of integrity across and the award was a testament to its genuine quest for social and economic empowerment

of Nigerians. The company expressed strong beliefs that access to quality education was a collective responsibility of both state and non-state actors. “LAPO MfB shall continue to impact society in a responsible manner, especially knowing that our tax remittance is directly or indirectly helping to bridge the human capital deficit and contributing to national development. We enjoin all stakeholders to take advantage of the TETfund tax remittance for the great good, ”the stated read in part.

mitments from Fund managers and other institutional investors, and United Capital Plc, acted as sole adviser and arranger on the transaction. The statement also noted that the successful debtfinancing round came on the heels of a positive investment appraisal of A3 (short-term) and BBB (long-term) with a stable outlook received from GCR Ratings, coupled with the strategic partnership and guidance of United Capital. The statement hinted that the milestone achievement makes CapitalSage the first FinTech Company to be noted on a Private Markets platform and the FinTech Company, which has raised the highest debt amount in the Nigerian Capital Markets. The Group Managing Director of CapitalSage, John Alamu, said: “Our expansion is mostly driven by our agenda to provide a sustainable and inclusive digital financial infrastructure that continually empowers individuals and businesses and facilitates wealth creation. We work closely with our customers to make sure they have the right tools in order to go wherever their aspirations take them. We are constantly at the cutting edge of digital innovation that increases financial access across Nigeria. With this funding, we are poised to further redefine the finance landscape and scale up financial inclusion across Africa.” In his remarks, the Head, Capital Markets and Advisory at United Capital, Babatunde Ajayi stated that: “CapitalSage Technology is a FinTech which offers a wide range of financial and technological solutions service range and has shown huge growth potential. The Company was able to attain an investment-grade rating from GCR, enabling this first entry into the Capital Markets.

T H I S D AY ˾ MONDAY AUGUST 16, 2021

BUSINESSWORLD

NEWS

Food Security: FG Unveils Law to Protect Plant Breeders James Emejo in Abuja The Minister of Agriculture and Rural Development Sabo Nanono, has launched the Plant Variety Protection Act 2021 (PVP) to safeguard the intellectual property rights of breeders. Essentially, plant breeding is the purposeful alteration of plant species to create desired genotypes and phenotypes for specific purposes. This is just as the minister

charged the Nigerian Agricultural Seed Council (NASC) to ensure full implementation of the law, to among other things enhance farmers’ access to quality seeds to boost food production in the country. While commending the Act which was a brainchild of the NASC, Nanono bemoaned the low budgetary allocation to research, lamenting that the huge chunk of the funds going to research institutes are for

salaries and allowances, and not actual research. He said the development was totally unacceptable adding that this was why the federal government is taking the issue of research seriously. The minister said, “We need to do something drastic and we need to be serious about research to develop the agricultural sector.” Harping on the need for proper implementation, the

minister said though the country is good at making laws, implementation remained major challenge. He added that it was important that the PVP act is fully implemented while stakeholders monitored progress. He said he would not give in to suggestions by some economists on the need to import seed, following claims that the country is in an emergency situation.

Rather, the minister insisted that there are enough seeds in the country adding that the problem centered on accessing quality ones. He said innovation and research remained major challenges towards the development of the agricultural sector. Also, speaking at the unveiling, Director General, NASC, Dr. Philip Ojo, described the legislation as an important

milestone in the development of the agricultural sector. He noted that Nigeria was one of the few countries in Africa without a plant variety protection system. He said the PVP law was critical to the agricultural transformation agenda of the current administration as this would incentivise national and multinational agribusiness investments in the country.

‘Aflatoxin Report is ‘Code Red’ Fiam Wi-Fi Extends for Nigeria’s Agro Commodities’ Connectivity to Lagos Suburb Gilbert Ekugbe The Technical Adviser to the Minister of Agriculture on Knowledge Management and Communication, Mr. Richard-Mark Mbaram has stated that Nigeria’s agro commodity is on the brink of a state of emergency as the nation’s food systems are facing challenging times due to lack of infrastructure and poor handling of agro commodities. Mbaram during a chat with THISDAY, said aflatoxin levels in Nigeria’s agricultural commodities are on high side, calling on the need to move the

light indicator from amber to red which he termed as a “code red” situation. According to him, aflatoxin in food system is the major reason why the Nigerian populace is having prevailing manifestations of kidney and liver problems, maintaining that this was the case of India many years ago till the Indian government took drastic measures to curtail the menace. In his words, “Recently, I have advised the Minister that we have a crisis, a state of emergency as it relates to micro toxins and mishandling of agricultural commodities. Our food systems in this

country are facing challenging times due to the lack of infrastructure. If you want to process we need power and in the village we do not have electricity and this situation exposes our commodities to micro bacteria, salmonella, aflatoxins and the likes.” He added: “This is why I told the Minister that this is beyond just serving the foreign markets or clearing our way to export. Those countries are rejecting our goods because they do not want their populace to suffer what our people are experiencing. This is a serious case of emergency and we need to tackle it as such. “

Nosa Alekhuogie Fiam Wi-Fi has expanding its use of Facebook Connectivity’s Express Wi-Fi platform to Ajegunle, a suburb of Lagos that is densely populated with lower-income earners. The initiative is supported by Facebook Connectivity as part of efforts to boost internet access across Lagos, Nigeria. Over the next three months, Fiam Wi-Fi will roll out additional Express Wi-Fi services in some of the most deprived communities in Lagos – including Makoko, a community built partly on stilts across the Lagos Lagoon and Naty Village, both fishing communities without

any public infrastructure. Founder and CEO, Fiam Wi-Fi, Akin Marinho, said: “With millions of Nigerians unable to afford connectivity, we are pleased to provide 1GB of data for N200 (US 50 Cents) without validity or expiration period. Our mission as a company is to connect 50 million more Nigerians to the internet over the next decade. The Express Wi-Fi platform allows us to build, scale and monetize our business, and lets us focus on delivering on our mission – to connect underserved communities to the internet.” Express Wi-Fi is a platform

developed by Facebook Connectivity that enables partners to build, grow and monetize their Wi-Fi businesses in a sustainable and scalable way while providing their customers with fast, affordable, and reliable internet access. Head of Public Policy, Anglophone West Africa at Facebook, Adaora Ikenze, said: “We are pleased to work with Fiam Wi-Fi to promote digital inclusion in Lagos and beyond by connecting millions to a faster, higher-quality and affordable internet.The Express Wi-Fi platform enables our partners to provide great connectivity when and where people need it.”

MONDAY AUGUST 16, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

MAN Blames FG’s Polices for Manufacturing Sector Poor Performance, Says Sector Contribution to GDP Less Than 10% Gilbert Ekugbe Despite the Ease of Doing Business (EODB) mandate of the federal government, the Manufacturers Association of Nigeria (MAN) has stated that the operating

environment for the business community is still ranked poor. Indeed, the association stated that factors for the poor ranking include high interest rates, multiple taxation, overbearing bureaucracy,

TrustBanc Closes Second Tranche of N10bn Debt Issue TrustBanc Holdings Limited (TrustBanc), the parent company of four regulated financial services companies, has said it successfully closed its series 2 Commercial Paper (CP) issue for a total amount of N1.7 billion on July 22, 2021 The 180-day CP was issued at a discount of 13.5323 per cent and a minimum subscription of N5 million. TrustBanc is rated A- by DataPro Limited and the issue was approved by FMDQ Securities Exchange Limited (FMDQ). Subscriptions to this series were made mainly by institutional investors, with a significant proportion by asset and fund managers. “I would like to thank all the subscribers to this commercial paper issue. This support represents a strong mark of confidence in TrustBanc, its financial performance, its business model and its growth strategy. The proceeds from the transaction will be utilized to finance the growing portfolio of assets within the TrustBanc Group. Our Group is proud to contribute to the growth

of the Nigerian Debt Capital Market through the FMDQ, “said Chief Executive Officer of TrustBanc Holdings Limited, Mr. Abu Jimoh, CFA. UCML Capital Limited and United Capital Plc, acted as dealers on the transaction. Speaking on behalf of the dealers, Director at UCML Capital Limited, Mr. Egie Akpata, described the Series 2 issuance as a reaffirmation of the issuer’s ability to tap into the debt capital market for its short-term funding needs. “The presence of large institutional investors in the order book for this unsecured instrument confirms that TrustBanc Holdings is seen as a trustworthy counterparty by the market, ”he said. TrustBanc was incorporated as a holding company to synergise the operations of TrustBanc Financial Group. TrustBanc along with its subsidiaries, namely, TrustBanc Asset Management Limited, TrustBanc Capital Management Limited, TrustBanc J6 MFB and TrustBanc Arthur Limited, make up the group.

policy somersaults, social unrests and the likes. As a result, the manufacturers said the sector contributes less than 10 per cent to the nation’s gross domestic products (GDP). The Chairman, MAN Apapa Branch, Mr Frank Ike Onyebu, said it is a sad fact that many manufacturing companies are folding up while several are relocating to other countries, calling on the federal government to develop and implement

deliberate policies to improve the ease of doing business in the country. Onyebu stated this at the association’s 50th annual general meeting (AGM) held in Lagos. He pointed out that the poor state if infrastructure in Nigeria is the single most devastating challenge of the sector, adding that dilapidated road networks, unstable electricity supply, decrepit port infrastructure have contributed immensely

to the high cost of production which has made Nigerian manufactured products mostly un-competitive. “These problems, which have been in existence for decades, needs to be addressed urgently to enable the manufacturing sector contribute its quota to national development,” he said. He said the manufacturing sector which has which has the potential of contributing more than 25 per cent to Nigeria’s GDP, is currently doing less than 10 per cent.

He stated that the contraction in the activities of the sector as a whole is attributable to myriads of factor including infrastructural deficiency, insecurity, global and domestic supply chain disruptions, foreign exchange liquidity, weak consumer spending and high operating costs. He added that subdued operations caused by the lock down and other containment measures to combat the pandemic also affected manufacturing activities.

L- R: Group Head Direct Sales, Access Bank Plc, Chizoba Iheme; DiamondXtra Season12 N1million Winner; Adeola Adewusi; Group Head, Employees in the Value Chain (EVC), Access Bank Plc, Uche Onyeigwe, and Group Head,Product and Segment, Access PHOTO: SUNDAY ADIGUN Bank Plc, Adaeze Ume, at the launch ceremony of DiamondXtra Season 13 held in Lagos… recently

APSAN Blames Rising Cost of Food Access Bank Reafﬁrms Support Prices on Multiplicity of Taxes for Youth Entrepreneurship Gilbert Ekugbe, The agricultural produce sellers association of Nigeria (APSAN) has stated that taxes from different internal revenue service on a single commodity is one of the reasons for the rising cost of food prices in the country. In a chat with THISDAY, the National president, APSAN, Comrade Aloys Akortsaha, explained that over ten regulatory agencies collect tax on a single commodity, saying that the cost is therefore passed to the Nigerian consumers.

“The major issue causing food inflation now is the multiplicity of taxes being faced by APSAN. People have been asking questions about the rise in food prices on a daily basis. We are faced by multiple taxes from different government regulatory agencies on a single commodity. You will find out that taxes are being paid on one commodity to different tax authorities in a State. “This has to be discourages as we have taking a step by writing to the corporate affairs commission (CAC) petitioning the State

Internal Revenue Service of the 36 State Governors including the federal capital territory (FCT) minister and they are on the verge of interfacing with the Minister of Agric based on our allegation which they have promised to take it up by presenting a bill to the National Assembly for a possible amendment of the law,” he said. “We believe this is one of the solutions and once this is tackled and farmers are getting commensurate value for their produce, the better for everybody,” he added.

James Emejo in Abuja Access Bank Plc has reiterated its commitment to providing finance and mentorship to young entrepreneurs with a view to making them self-reliant and employment creators. The bank’s Regional Sales Director, North Central, Mr. Adebanji Jimoh, said the institution realises the role that young people play in the community and nation at large adding that it is committed to supporting their aspirations.

Speaking during the National Youth Service Corps (NYSC)/Access Bank Accesspreneur competition in Abuja, where cheques valued at about N2.9 million were presented by the bank to beneficiaries, he said, “We believe that the youths represent the future and hope of our nation and we will do all we can to support their innovative ideas.” Jimoh said the partnership with the NYSC was in line with the bank’s sustainability ethos of improving lives and supporting the development

and growth of its host community. He said the partnership would help facilitate the training and mentoring of Nigerian youths in skill acquisition and entrepreneurship development for self-reliance. He said, “We are constantly here with every batch of the NYSC to support great ideas as we are seeing today. Research has shown that lack of access to finance is one of the major reasons why businesses particularly start ups fail.

RIGO MFB Disburses N2.3bn, Grant N1.7bn to Women

VDT Communications Begins NIN Registration Nationwide

Nume Ekeghe

Emma Okonji

RIGO Microfinance Bank has announced that it has disbursed over N2.3 billion in microloans to individuals and small businesses with a majority give to women. The bank said it is passionate about financial inclusion drive to support women, which is why 74 per cent of loans disbursed were given to women. The Managing Director, Rigo Micro Finance Bank, Mr. Adolphus Aletor said: “Our Balance sheet size stands at N629m with a total weighted risk asset of N536m. A total of over 10,000 depositors have contributed to

the deposit base of which 70 per cent is from the female gender, while the balance of 30 per cent is from the male gender.” “Our cumulative loans disbursed is N2.3bn since inception with 60% representing Micro loans and 40% representing SME loans. The sum of N1.7bn was disbursed to women representing 74 per cent while the balance 26 per cent were disbursed to men. Our focused sector in the last 3 years has been Trade and Commerce representing 75 per cent of our sectoral business. The balance of 25 per cent covers manufacturing, Transport

and Services.” He further added that his firm has surpassed the increased share capital requirement stipulated by the Central Bank of Nigeria, which was fixed at N200 million. He said: “On 29th April, 2020, The Central Bank of Nigeria (CBN) reviewed its Circular dated 7th March, 2019 with respect to Minimum Share Capital requirements for Microfinance Banks. By virtue of the said review, RIGO MFB is expected to increase its Share Capital to the sum of two hundred million Naira by April, 2022.

VDT Communications has commenced the services of registering Nigerians for the National Identification Number (NIN), following the appointment of VDT by the National Identity Management Commission (NIMC) as one of the Internet Service Providers (ISPs) selected as an agent for NIN registration. The company, in a statement, said it had put everything in place to offer easy NIN registration for members of the public nationwide. “VDT Communications

personnel assigned to handle the NIN registration have undergone the necessary training with NIMC. The company has also acquired the necessary equipment for the registration and retrain the assigned personnel. VDT Communications has also established a number registration centres across Nigeria. “Moreover, the company is combining both off-line and on-line strategies to ensure that members of the public enjoy seamless and easy NIN registration experiences through VDT platforms. Several online

requests have already been received from members of the public to be scheduled for registration,” VDT said in the statement. The appointment of VDT by NIMC as one of the NIN registration agents, will help speed up NIN registration across the country, as directed by the federal government. VDT became one of the newly appointed ISPs for NIN registration, in recognition of the great job the company has been doing and her leadership role in the Nigerian telecoms/ ICT sector.

MONDAY AUGUST 16, 2021 • T H I S D AY

T H I S D AY ˾ MONDAY AUGUST 16, 2021

HOMES&DESIGN Nigeria’s Skyscrapers:

NITEL BUILDING STANDS TALLEST FOUR DECADES AFTER

MONDAY AUGUST 16, 2021 ˾ T H I S D AY

HOMES&DESIGN

SKYSCRAPERS MAXIMISES LANDMASS TO HOUSE NATION’S GROWING POPULATION In ancient Babel, thinkers and dreamers conspired and built the ﬁrst tallest building ever recorded in human history. Uncompleted to date, it looms large in mankind’s memory. But the world’s real estate has moved on with recordbreaking gravity-defying skyscrapers. In 1979, Nigeria had its iconic real estate masterpiece. Fast-forward to 2021; it still dwarfs many so-called high-rises, writes Bennett Oghifo

urj Khalifa. It is unmistakable in its name. It is unreachable in height. It is the tallest dream ever committed to a man-made building. Located in Dubai with a height of 2,717 ft (828 m), 163 floors, and completed in 2010, it pierces into the Arabian skies leaving the world in awe and rapture. In dazzling design and coming second as the world’s tallest building is Shanghai Tower (considered the “tallest twisted building in the world). Completed in 2015, at 2,073 ft (632 m) tall, it twists and turns into the Shanghai skyline. They are the kinds of stuff dreams are made of and the remarkable demonstrations of visionaries. In ancient Babel, thinkers and dreamers conspired and built the first tallest building ever recorded in human history. Uncompleted to date, it looms large in mankind’s memory. But the world’s real estate has moved on with record-breaking gravity-defying skyscrapers. In 1979, Nigeria had its iconic real estate masterpiece. Fastforward to 2021; it still dwarfs many so-called high-rises. The External Communications (NECOM) House (formerly NET Building and NITEL Tower) remains Nigeria’s beauty in the skyline. It ranks 234 in the world’s tallest buildings, four in Africa. It dwarfs a few dozens of so-called towers in the country. The 32-storey NECOM high-rise, located in Lagos’ inner Marina axis, is the tallest in West Africa. It once housed the headquarters of NITEL, the federal government’s now moribund telecommunication company, and the communications spire at the top of the tower served as a lighthouse beacon for Lagos Harbour. TALL DREAMS, NO VISIONARIES Moving away from the glorious past where monumental tall buildings were the dreams and visions of ecclesiastical and governmental figures, modern-day skyscrapers belong to the perspiration and inspiration of enterprising individuals and commercial cartels. Trump Tower and the Empire State Building in New York, the Wuhan Centre Tower, and One World Trade Centre are signatures of modern-day dreamers; they represent the enduring legacy of economic powers. With the biggest economy in Africa, Nigeria does not run short of billionaires. It is home to the richest man on the continent. Since Nigeria’s brilliant minds conquered the vertical limits with NECOM building, it appears today’s bright minds and money-men have cowered in the face of towering height. Vertically challenged, they have continued to stoop low in their dreams to rise to the height of the skies. A look at the nation’s landscape shows most of the high-rise buildings are concentrated in Lagos, with a sprinkling in other cities. Abuja arguably has only one: the World Trade Centre building and Bank of the North edifice in Kano. Port Harcourt’s skyline is almost bare, like other cities. Although one of the three Azuri Towers rises to 33 floors at the Eko Atlantic City off the coast of the Atlantic Ocean in Lagos, it is shorter than the NECOM building, and the height counts. The dearth of high-rises in Nigeria has been blamed on the lack of real demand for such facilities in the country, the Chief Executive Officer of Eko Development Company, Olawale Opayinka, told THISDAY recently. Napoleon Ono, an expert in the real estate sector, stated, “The technology, economy, and culture of poor developing countries cannot support the tall pipe dreams of the high-rise buildings in the near future.” Ono further explained his position, noting that multi-storey buildings are taller than the maximum height people are willing to walk up, “thus they require vertical mechanical transportation.” He added, “High-speed, automatically controlled cable-operated lifts are the major form of vertical transport in high-rise structures. The cost of procurement, installation, and maintenance are presently prohibitive. Certainly, these are not for poor countries that technologically advanced countries

compel to pay even higher for procurement and importation of goods and services owing to the poverty of their technology.” According to him, architects and engineers conceptualised high-rise buildings, from the beginning, as machines for living in. While the high-rise building “seems feasible in developed countries, they are not feasible for now in developing countries, including Nigeria,” he stated due to the low economic level, electricity supply, water supply, lifts, escalators, and cranes. He explained, “The high-rise buildings depend extremely on constant electricity supply to run electro-mechanical systems. Recent records show that Nigeria has an intractable endemic epileptic electricity supply.” He also pointed out the difficulty of water supply through the facility, stating that “water supply is in critical deficit.

Most people have no access to potable water. Some only have access to public water supplies away from their homes. “It is pertinent to note that most families who live on first floors cannot get running water from the public water system without additional mechanical means. It will be impossible to get water for regular domestic and hygienic purposes, especially for large-size families, to the heights of high-rise dwellings. Vertical transportation systems, lifts, and escalators are imported and costly. Without these facilities, moving young and elderly members through stairs becomes a nightmare,” he further said. “The construction of high-rise buildings involves mechanical construction equipment and expertise, which are quite prohibitive in cost. This makes it impossible for individuals and even difficult for governments to embark upon adequate high-rise housing construction programmes.”

As is widely known, the backbone of high-rise accommodations rests on iron and steel. The steel industry in Nigeria “is not only expensive, but the Aladja and Ajaokuta steel complexes have become albatrosses on the Nigerian economy.” Other tall buildings constructed after the NECOM House include the 34-floor, 102-metres Champagne Pearl Tower in Lagos completed in 2017; 28-floor 124-metres Union Bank headquarters in Lagos; 24-floor and 140-metre tall World Trade Centre Tower 1, in Abuja completed in 2019. There are also the 26-floor, 82-metre tall Black Pearl Tower in Lagos constructed in 2016; 27-floor, 110-metre high Eko Tower II, Lagos, also completed in 2016; 26-floor and 105-metre high Cocoa House, Ibadan, built in 1965; Independence House in Lagos (23 floors, 103 metres) completed in 1960; and the 17-floor, 101-metre tall InterContinental Hotel in Lagos, completed in 2013.

MONDAY AUGUST 16, 2021 ˾ T H I S D AY

BUSINESSSPECIAL

STRENGTHENING DOMESTIC RESOURCE MOBILISATION Obinna Chima writes that increasing domestic revenue is central to improving economic growth as well as the quality of public utilities

t is a common knowledge that Nigeria’s revenue to gross domestic product (GDP) ratio, at about eight per cent is the lowest in the world. For instance, Algeria presently has 33 per cent revenue-to-GDP ratio; South Africa – 29 per cent; Morocco – 26 per cent; Tunisia – 24 per cent; Angola – 22 per cent and Egypt – 21 per cent. Some other countries whose revenueto-GDP are also far above that of Nigeria include Cote d’Ivoire – 20 per cent; Zambia – 19 per cent; Kenya – 18 per cent; Cameroun and Uganda – 16 per cent; Ghana – 14 per cent and Ethiopia – 13 per cent. This has seen the federal government take steps to shore up its revenue, especially from the non-oil sector. One of such moves was the federal government’s last week’s announcement of plan to reintroduce toll collections on designated dual carriageways across the country. Minister of Works and Housing, Babatunde Fashola, disclosed this after a Federal Executive Council (FEC) meeting in Abuja. The planned reintroduction of tollgates comes 18 years after the administration of former President Olusegun Obasanjo dismantled all toll plazas on federal roads throughout the country in 2003. But analysts have stressed the need for transparency and accountability in the process leading to the return of the toll gates.

Fashola said only 5, 005 kilometres of dual carriageways out of the 35,000 kilometres of federal roads in the country– that is 14.3 per cent – would be eligible for tolling. According to him, vehicles would pay between N200 and N500 per trip, depending on their make. However, diplomatic, military, paramilitary vehicles, and as well as tricycles and motorcycles would be exempted from toll payment, the minister stated. He explained, “The total network of roads today, assuming we wanted to start today, which will be eligible for tolling on federal network will be 14.3 per cent of the total network. “So 85.27 per cent will not be eligible for tolling. We have seen that most of those dual carriageways also have alternative roads, but they are single carriageway. That was why we left them. “The only exception to single carriageway are some bridges and they are listed in the regulation.” The former Lagos State governor said with the council’s approval, modalities were being worked out to determine when the tolling system would take off. He explained, “The Ministry of Works and Housing presented a policy memorandum for the approval of federal roads, bridges, tolling policy, and also a regulation that will provide legal framework for the tolling policy. The federal government spent 98

per cent of its revenue to service debt between January and May 2021, up from the 83 per cent recorded in 2020. “We have taken another step. So let me be clear, tolls are not going to start tomorrow. Let us be clear about that. “But the big step to actual tolling was taken today by presenting for approval the broad policy that will guide the tolling so that local people, states, local governments, all those who manage roads, investors who want to come in, will know what our tolling policy is. And that will form the basis of their financial modelling, their investment decision.” Fashola emphasised that the open tolling system to be introduced would not commence until the affected roads were motorable, while agreements as to the erection of the plazas would be negotiated with relevant government agencies. He said, “First of all, toll will not start until roads are motorable. So let’s be clear about this. “There will be agreements that have to be negotiated with government through the Ministry of Works and the Infrastructure Concession Regulatory Commission. “Some of the highlights are that we will adopt an open tolling policy, as distinct from a closed tolling policy. The difference is that only open tolling policy, which is what we were used

to, you pay at a barrier over a fixed or predetermined distance. “The closed toll system means that you will pay tolls over the distance you travel and the size of your vehicle. We haven’t operated that before. So we are going back to what we know. We also approved that consultations must be done. Willingness to pay surveys must be done before specific roads are tolled.”

ENHANCING REVENUE

Last year, the federal government spent N3.10 trillion on debt service for the 11 months (January- November) 2020, out of N3.48 trillion retained revenue for the same period. This represented 89 percent of its revenue. In its 2022-2024 medium-term expenditure framework and fiscal strategy paper (MTEF & FSP), the budget office of the federation also projected to spend N48 out of every N100 revenue to repay debt in the next four years. That is why experts have continued to stress the need to diversify its revenue source away from oil as oil, which has been a resource curse for the country in multiple dimensions. Clearly, this was one of the reasons why the federal government launched its Strategic Revenue Growth Initiative (SRGI), whose key elements includes sustainability in revenue generation;

T H I S D AY ˾ MONDAY AUGUST 16, 2021

BUSINESS SPECIAL

enhancing existing and creating new revenue streams; cohesion in the revenue ecosystem; and cost optimisation and liquidity enhancement. The overarching goal of the initiative is to raise the revenue-to-GDP ratio to 15 per cent by 2025. The Nigerian economy continued to recover in the first quarter of 2021 after exiting a recession in the fourth quarter of 2020. Data from the National Bureau of Statistics (NBS) had shown that real Gross Domestic Product (GDP) grew by 0.51 per cent in the first quarter of 2021, compared with 0.11 per cent in the fourth quarter of 2020. Therefore, in order to shore up its non-oil revenue, the World Bank has advised the federal government to focus on low-hanging and revenue-yielding fruits. These, the bank stated would help the government achieve substantial gains, grow Nigeria’s tax-to-GDP ratio to about seven per cent and rake in about N10 trillion revenue in the next three years. Specifically, the bank advised the government to increase ‘sin taxes,’ charging fees for electronic money transfers, rationalising tax expenditures, removing loopholes in tax laws, and improve tax compliance with more disciplined revenue administration. It also noted that tax revenues were necessary to run essential services, provide security to citizens, help tackle hunger and poverty, and deliver critical health and education services. Furthermore, the Washington-based institution stated that the COVID-related economic slowdown and the steep fall in oil prices in 2020, brought into clear focus the need to increase non-oil revenue in Nigeria, even when investment, jobs, and growth also needed to increase. “This calls for a carefully calibrated set of policy and administrative measures that can grow revenues without discouraging investment. “That rules out any increases in traditional ad valorem taxes like the value-added tax but it does afford an opportunity to fully apply tax policies already adopted and reform tax administration to seal compliance gaps. “In the longer term, fundamental reforms of the tax system will be necessary to stimulate post-pandemic investment and economic growth. As Nigeria tries to “build back better”

ANALYSIS

“If you look at the Nigerian economy, oil contributes only 10 per cent to GDP, while the non-oil sector contributes 90 per cent. So, we can actually do a non-oil budget. If we had been doing it for years, we would have gotten used to it, so that if the oil price does well, it becomes like a windfall. Let us demystify the oil sector because oil may ﬁnish one day.” after the COVID crisis, a more strategic approach to revenue mobilisation will also be necessary: not just taxing more, but taxing better; not just how much to collect, but how to collect, what to collect, and from whom,” the bank added. On its part, the Deputy Governor, Corporate Services Directorate, Central Bank of Nigeria, Mr. Edward Adamu, noted that to spur all-round economic recovery and brighten the outlook for overall growth, fiscal actions must be aimed at supporting a wide range of activities including contact-intensive activities that have been heavily impacted by the COVID-19 pandemic. This, he said was important because the overall output horizon continues to be uncertain due largely to concerns about the pandemic. “As I have argued previously, monetary policy at this time must be anchored on a balanced view of the diverse pressures on the economy. While remaining committed to the primacy of price stability, the choice of instrument must be carefully judged to avoid undermining the fragile economic recovery gains,” Adamu added. On his part, a member of the Monetary Policy Committee (MPC), Prof. Adeola Adenikinju, pointed out that there was need to diversify the economic and revenue base of the economy so as to reduce exposure to external shocks as well as prepare the economy for the global shift from fossil fuel to green economy. “It should not be business as usual for our economic managers. The economy also needs a strong buffer to mitigate

external volatility,” Adenikinju added. Also, another MPC Member, Ahmed Aliyu, stressed the need to promote nonoil exports as well as to build critical infrastructure in the energy/power and transport sectors. “I am not oblivious of the tight fiscal space, which calls for the need to broaden the revenue base to meet government’s expenditure profile. The recent efforts by the fiscal authorities to strengthen revenue collection channels is commendable and should be supported by all stakeholders,” he said. Similarly, the Deputy Governor, Operations Directorate, CBN, Mr. Mr. Folashodun Shonubi, said the increasing need to refocus the economy and look beyond oil stares us in the face. According to him, many jurisdictions have scaled down further investments involving use of fossil fuel. “We must therefore take more steps to enhance domestic investment and productivity, as well as, reinforce the internal stabilizers of the economy,” he added. On his part, the Director-General, West African Institute of Financial and Economic Management (WAIFEM), Dr. Baba Musa, said the biggest opportunity for both policymakers in the country and operators of business is to look inwards. According to Musa, over the years, the mantra has been to diversify the economy, but despite that, there has been heavy reliance on oil as a major source of revenue. “But if you look at most of the

developed economies, most of them are driven by the taxes they collect. So, in our tax system, there is still a lot of room for improvement. “Nigeria’s tax to GDP is far below Africa and even West African average. So, what is required is that now all those loopholes in terms of revenue collection, we need to block them,” he added. He said the pandemic has also brought to the fore the need to increase investment in the health sector. “Already, the government has an agriculture agenda and there is also the Anchor Borrowers’ Programme; we need to ramp them up in such a way that the country becomes a net exporter. “Then, after that, in the medium term, the Dangote Refineries, the modular refineries would also be encouraged to come on stream, because this is the right time for them to be operational. But what is important is that we need to look inwards,” he added. The Founder, Foundation for Economic Research, Prof. Akpan Ekpo, advised that going forward, the federal government should always prepare what he termed a non-oil budget, in order to be able to avoid external shocks. “What I have been saying for years is that anytime we have high crude oil price, we should always see it as a windfall, save a lot of the revenue and target it for spending on infrastructure. I worked with Anthony Ani when he was Minister of Finance and we planned to do a non-oil budget. “If you look at the Nigerian economy, oil contributes only 10 per cent to GDP, while the non-oil sector contributes 90 per cent. So, we can actually do a non-oil budget. If we had been doing it for years, we would have gotten used to it, so that if the oil price does well, it becomes like a windfall. Let us demystify the oil sector because oil may finish one day,” he said. Therefore, it is expected that strengthening domestic revenue mobilisation would provide enough resources for the government to invest in critical sectors such as security, health education and also engender inclusive and sustainable growth. In addition, it would help to improve governance as well as the quality of life of citizens.

MONDAY AUGUST 16, 2021 ˾ T H I S D AY

INTERVIEW

REWANE: HOW NIGERIA CAN ATTRACT MORE FOREIGN DIRECT INVESTMENTS

A member of the President’s Economic Advisory Council and Managing Director, Financial Advisory Council, Mr. Bismarck Rewane, in this interview provides insights into steps the federal government can take to ramp up its share of global foreign direct investments. He also speaks about the move by the government to reintroduce tollgates on highways in the country. Obinna Chima provides the excerpts: Nigeria’s share of Africa’s $75 billion Foreign Direct Investment (FDI) has been put at $3 billion, despite the fact that we are the biggest economy in the continent. What do you think the government should be doing to attract more of such investments? irst of all, let us understand that FDI is usually by companies that have a stake in this country. It is distinct from portfolio investment. FDIs are people that want to take risk and FDIs more than any type of investment, is a function of risk in the system. Therefore, our share of FDIs in Nigeria compared with the total FDIs in the world is 0.27 per cent. Now, our share of global population is 2.6 per cent. In other words we have 206 million out of eight billion people. So, if your share of population is 2.25 per cent and your share of flows of investments is 10 times lower than your population share, it means that you are punching below your weight and that means you have to do something. So, what are the things that we can do to ensure that we get confidence of investors? Investors take calculated risks based on what their perception is. So, we need to be focused. It is easy to complain that we are not attracting enough FDIs, but the solution is that we need to have policy consistency, policy stability and clarity in all respect. So, pricing of our petroleum products, pricing of our electricity and essential commodities, are all important. So, you basically have to minimise subsidies and increase efficient market hypothesis so that investors can plan. Firstly, they know

they can price their products after cost, they know that if they are bringing money in, they can take it out at a rate that they can predict and they know that they would be borrowing at market rate, rather than subsidies. So, once all these things are there, you will find out that Nigeria will transform from being a potentially attractive destination of investment, to an actual destination of investment. So what is hindering the government from doing these things? You see, in decision-making process there are trade-offs. So, you have goals. Your goals could range from economic patriotism to protectionism, to allowing open market to determine prices, to protect the bottom of the pyramid, and others. So, there are so many goals, but in trade-offs, you give up something to get the other and you look at what is strategic from what is tactical. So, as far as I know, there are a lot of strategic things that Nigeria needs to do which includes the government doing it first and people respond. Look at our exchange rate management for example, we are moving slowly in the right direction, but the markets are not sure. If we become more deliberate and more predictable, you will see that we would have major inflows. So, one is not going to be dictating the pace of this, but definitely

if the pace is increased, we would see some response. If we come up with some clarity on our petroleum subsidy regime, we would see lots of investments such as the Dangote Refinery. If you have invested so much, you need to be allowed to price your product properly. Last week, the federal government disclosed plan to reintroduce tollgates on the highways 18 years after, was that part of the recommendations by the Economic Advisory Council (EAC), which you are a member of and what is your take on the plan to bring back the toll gates? First of all, we don’t advertise our advice as an EAC and so I will not tell you that. All I do know is that concessioning of idle assets is an integral part of sweating the assets. You know if you have a road that is not being sweated, let’s say a N300 billion road, for example, Lagos to Ibadan and every year we spend maybe N20 billion maintaining it, if we now concession it to someone who buys it from us and then collects tolls and uses the tolls to maintain it, it saves the government outflows which it can use to do other things. The government can also take another road, concession it and use the money from that to complete other roads that have not been completed. The concept of concessioning is to free up money and give you money to

acquire new assets for the good of the people. I support concession, but it must be transparent and there must be value for money. We’ve had some concessioning that didn’t work, which was because it was concessioned to the wrong people. Then in any case, most of the things you are seeing these days are much more transparent. There have been divergent views about the proposed Eurobond issuance by the federal government, especially regarding the effect on public debt. What is your opinion about that? It is what we call debt sustainability and fiscal consolidation. If you are borrowing and our level of borrowing, especially international borrowings have increased sharply, then any time there is an adjustment in the exchange rate, your nominal debt increases. However, if the debt is used for projects that would increase productivity of the people, then the outcome of that asset that is being acquired with the liability that have been created with the new loan would more than compensate for the debt service. So, it is not just the quantum of the debt, buy what it is being used for and the impact of that. But let me tell you, if you have uncompleted projects and you do not complete it, what would happen is that the principal is gone, the interest would be paid and yet the project is not completed and it is not adding any benefit to the people. If you look at Nigeria, it is dotted with incomplete projects and projects that are suboptimal. So, if we are to borrow so that we

T H I S D AY ˾ MONDAY AUGUST 16, 2021

INTERVIEW

can cover existing projects so that we can begin to get productivity out of it, I would go for that. What is your comments on earnings released on the stock market generally? First and foremost, 2020 was a tough year, but it was a good year for the Nigerian stock market – the best performing market in Africa with over 50 per cent returns when inflation was around 18 per cent. So, enter 2021, what are we seeing? We have seen volatility, we have seen choppy trading, we have seen interest rate going up and then going down again. So, investors are kind of confused, but at the same time are happy that they have options. So, what are we seeing? We have seen that the market has lost year-to-date, 2.7 per cent. But in the last two months, we have seen a gain of 1.9 per cent. What does that tell you? It shows that we are going to start weak, but end strong this year. Now, why? Two things: Sentiments and earnings. Now that we are talking about earnings, let’s go to that. Generally speaking, we take seven companies. Of course, the ones with the highest nominal growth in earnings, being Dangote Cement. We have Lafarge, MTN, Airtel, Nestle, Nigerian Breweries and Total. We start with MTN. MTN recorded drop in subscriber numbers, increase in average revenue per user, but also a shift in the earnings structure. Most important was that revenue was up 31 per cent, while the sector grew seven per cent. It means that MTN outperformed the economy, outperformed manufacturing and every other metrics. But what is interesting is that digital and fintech revenue grew by 54 per cent and data revenue grew by 53 per cent. Guess what? Voice went up by only 18 per cent, SMS was about three per cent. So, you can see where the growth is. Why? Streaming, news, media, settlement of transactions and social media were all responsible for the growth. In any case, profit after tax went up by 59 per cent. These guys make money by going to bed. Now, N68 billion in a quarter. So, what have they done? They are investing in capacity, they are paying high taxes. And it is not just the profit of MTN, Airtel and others are enabling other sectors to become more efficient. So, productivity is affected positively. So, don’t look at the telcos in isolation. Then, they have opted to construct the Enugu – Onitsha highway in the task for project, which is very interesting. So, some companies are opting to repair those roads which are death traps, so I think we should encourage them. Now, let’s go further to Dangote Cement. Dangote Cement has 72 per cent market share, its domestic sales was up by 33 per cent, revenue was up by 57.2 per cent. We talked about MTN, but this company’s revenue was up by 57. 2 per cent. There is ongoing civil construction of roads and affordable housing all over the place.

“The second quarter, based on base year effect would be better, but we are not going to have stellar growth this year because of so many things and now with the Delta variant and the possibility of lockdown, the economy may stall a little bit.” They have commenced the Okpella plant in Edo State, they have expanded their operations and provided power and they have N309 billion road construction swaps, which is huge. More than anything else, they have the Africa initiative. So, just like the Road and Belt Initiative of China across African countries, this company is all over the place and they are really growing. Now, let’s go to Total. The downstream sector has been decimated because of subsidies and all sorts of scandals. But this company grew by 132 per cent in revenue, in a sector that grew by minus two negative. So, in effect, they outperformed the economy by 135 per cent. They had a previous year loss of N374 million, but now they have gone to a profit. Now, the question is what will the impact of the Dangote Refinery as well as the refinery initiatives of the federal government have on Total? I think that is important. The Dangote Refinery and petrochemical and fertilizer complex project is a fully integrated, single train, cutting edge with modern technology, for the whole of West and Central Africa because refineries go by the hub syndrome. So, you have one in Singapore, Rotterdam, Houston, because it has to do with scale. Don’t forget that refineries are low margin, high volume business. So, that is why the Federal Executive Council approved the 20 per cent stake. What is in it? Dangote is not a philanthropist, he is there to make money. Nigeria has a responsibility also to provide downstream products, such as aviation fuel, one of the most expensive. Of course, with this, the Dangote Refinery comes under a lot of scrutiny. So, how did you see the media report that the Asset Management Corporation of Nigeria (AMCON) was considering taking over Dangote Reﬁnery, even though AMCON has come out to say it is not true? First of all, the thing about rumour is that

first of all you have to scrutinise it whether it makes sense. If it doesn’t make sense, the typical thing is to ignore it. But in Nigeria, because of the level of ignorance, if you ignore it, you may be fuelling it. So, it is important to make some facts clear. I read the story which says there is an $8 billion debt service. For you to pay interest of $8 billion, the nominal loan itself should be in excess of $150 billion. The total economy of Nigeria is about $450 billion. It would mean that one company in Nigeria is owing one third. So, it doesn’t make sense. Nigeria as a country pays about $3 billion a year in interest, how can a company within Nigeria be said to be paying twice the total interest of the entire country. I would have ignored it, but I think it is clear that there is vested interest by people who are afraid of the entire irreversible momentum of change across the whole of West Africa. With the African Continental Free Trade Area agreement, and other initiatives, things are going to consolidate. First and foremost, let’s make it clear that the story has no basis and it doesn’t make sense. Also, let’s look at the inevitability of that change of people investing in sectors that would grow. For example, Saudi Arabia’s total oil earnings in one year is $145 billion. It would mean that Dangote Refinery’s loans would be about the total oil earnings of Saudi Arabia, which is the largest oil producer in the world. Secondly, is this the time to be investing hugely in this kind of business? Yes it is. We said that we are consuming 103 million litres of petrol a day. Obviously, that is false and it is exaggerated, but we need to start doing most of these things domestically to create jobs and to ensure that there is sanctity of production and that people can get the products when they want it. I think that is important. Now, let’s spend some time to talk about Nigerian Breweries and others. Interestingly, Nigerian Breweries revenue was up by 51 per cent to N103 billion. That was huge, at a time when drinking has actually

declined. But, what has happened? Because of the COVID-19 lockdown, parties were controlled and bars were controlled. So, does it mean that Nigerians were drinking that much at home? Well, not so. What it actually means to me is that the controls and restrictions were meaningless because parties still take place and Nigerians are not willing to compromise their weddings, funerals, birthdays or any reason to celebrate. So, what we have seen is that the total beverage and alcohol business has shifted in structure. So, we are seeing more people drinking spirits because most of them are now made in smaller bottles. We have seen more of these being targeted at the bottom of the pyramid, where we have the drivers, bricklayers and more of such persons. And there have been less of stout and malt and more of sugar-free drinks. But, the other thing that we noticed is that the younger people, back in the day when people go out to party, if you start with beer, you end with beer and if you start with stout, you end with stout, but now we have seen mixtures. People now mix spirit with beer, stout, Vodka and all that. So, the last of the companies we are reviewing is Nestle. For Nestle, coffee, Maggi, Milo, Golden Morn. So, what you are seeing is industrial processing of agriculture commodities, from maize to cocoa, sugar and all other things, being done at same time. So, they reported a growth of 19 per cent to N84 billion, while others are suffering. So, what you see is that the dominance and financial clout of Nestle is playing out. So, all of these companies that we have talked about – from Total, Dangote, MTN, Nigerian Breweries and Nestle – their stock prices have done very well. So, what I would like to say is that whilst the market is choppy, whilst investors are tentative, look out for those stocks the companies are dominant, and they have financial clout, muscle and more than anything, don’t just look at profit, and look at free cash flow. In all of these companies, their free cash flow is just rising as fast as their profit is. Like they say, profit before tax is vanity, dividend is reality. What is your projection for the rest of the year? My projection is that there would be growth. I tend to agree with the World Bank and others that the annual growth would be at about 2.5 per cent, but there would be some slowdown. The second quarter, based on base year effect would be better, but we are not going to have stellar growth this year because of so many things and now with the Delta variant and the possibility of lockdown, the economy may stall a little bit. But generally speaking, we think that because the price of oil is at $70 per barrel, because our production quota is up, our oil revenue will be better. Therefore, if we’ll deployed, we should be able to navigate our way slowly out of this fragile situation we find ourselves

MONDAY AUGUST 16, 2021 ˾ T H I S D AY

TRIBUTE

HERBERT WIGWE: STILL A PATHFINDER @ 55 A Louis Achi

s Mr. Herbert Onyewumbu Wigwe, the GMD/CEO of Access Bank Plc, clocked 55 years on August 15, 2021, the world and Africa stand on the brink of significant disruption - and of substantial opportunity - as new business models challenge traditional templates. This is especially more so as the Covid-19 pandemic massively disrupted conventional business playbooks and upended the global economy. As it were, only tested pathfinders with vision, knowledge and courage can provide the critical leadership to ensure both stability and progression. And this is Wigwe’s forte. A powerful vision pulls 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. Enlisting 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 Bank boss has demonstrated with his life’s trajectory that faith, accountancy, banking and finance fundamentally address transformation of society and the human condition for good. To date, he unabashedly maintains this unique footing. The enthralling odyssey of Wigwe life further validates the enduring wisdom that difficult roads often lead to beautiful destinations. 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. He was appointed Access Bank chief executive officer in January 2014, and has since then exponentially grown the bank. Today, under Wigwe’s circumspect guidance, Access Bank Plc is 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 people 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 Exchange Limited since 1998, the bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities. The bank serves its various markets through four business segments: Retail, Business, Commercial and Corporate. The bank has over 900,000 shareholders (including several Nigerian and International Institutional Investors) and has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last twelve years. Following 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, Access Bank is focused on mainstreaming sustainable business practices into its operations. The bank strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant, helping customers to access more and achieve their dreams. Not surprisingly, in honour of its pathfinding roles across the African continent, 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”. 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 this year, 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 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 remarkable.” Wigwe has considerably demonstrated he is a personality and leader not swayed by extraneous emotionalism and parochial cant. He started his professional 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 and multinationals. He left Guaranty 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). He is Chairman of The Access Bank (UK) Ltd and a Non-Executive Director of Nigerian Mortgage Refinance Company Plc; FMDQ OTC Securities Exchange; Shared Agents Network

Expansion Facilities Ltd. and Agri-Business/ SME Enterprises Investment Scheme. Wigwe also sits on the Boards of CACOVID-19 LTD/GTE, HIV Trust Fund of Nigeria and the Nigerian Business Coalition Against Aids. Wigwe’s choice as the GMD/CEO of one of Africa’s biggest financial institutions tacitly acknowledges the capacity of focused individuals to upscale 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. Today, he has been deservedly transformed into an active, focused national and continental industry leader; a genuine pathfinder. The position of CEO carry considerable weight, especially in charting the course of bold engagement with the critical elements in the financial sector and especially so when the occupant enjoys the total confidence of his board as Wigwe undoubtedly does. In his recent best-selling book, “The Age of Agile”, Steve Denning, former program director of knowledge management at the World Bank, discusses a “Copernican revolution” of management that puts the customer at the center, rather than the firm. This is especially so in the banking sector. Clearly, banking remains a relationships business. For ages, banks have tried to leverage that relationship to grow and maximise shareholder return. Because of her emphasis on the long term, Access Bank, one of Africa’s largest retail banks by retail customer base with proven risk management and capital management capabilities has made decisions and weighed tradeoffs differently from much of her industry competition. This required an organisational cultural transformation, especially at banks that have long been driven by traditional metrics. More, it requires bold, game-changing leadership which Wigwe, the pathfinder, continues to provide. He certainly is not the kind of professional who stays tamely at the receiving end of received policy prescriptions. He covets knowledge-driven innovations, proactive engagement with stakeholders, policy makers, fluid operating environments and sure-footed action. These dimensions have been boldly mirrored in his nimble leadership of one of the continent’s banking behemoths. 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.

MONDAY AUGUST 16, 2021 • T H I S D AY

MONDAY AUGUST 16, 2021 ˾ T H I S D AY

FACT FILE TR

UTH

& R E ASO

With Lanre Alfred | 08076885752

TRUTH BEHIND THE HEADLINES, CONSPIRACIES, COVER-UPS, TRIALS AND TRIUMPHS

Can Africa’s Richest Billionaire Save His Brother from Ivorian Business Partners’ Fury?

es, chaos is Sayyu Dantata’s present music. But will he dance through the storm or drown in its waves? Ask Dantata. Several months after the mass exodus of his management staff from his firm, MRS Oil, he faces an international internatio battle as the oil distribution MRS/Corlay Global/Petroci Global/P arbitration saga rumbles. The arbitration arbi proceedings between the Ivorian national oil firm, Pe Petroci Holding, and Abuja’s favourite trader MRS Oil, owne owned by Dantata, over the purchase of Chevron’s distribution distributio assets will not be over any time soon. If chaos is truly y a gift, g Dantata will seek solace in the belief that whenever there is chaos, it creates wonderful thinking. He would consider it a gift meant to advance his affairs in the stormy st business terrains of Ivory Coast. Petroci Petro says it will take the necessary steps to get justice justi in the dispute with MRS Oil over a $675.8 joint join venture deal. Petroci and MRS are engaged in a legal tussle over managing the assets of Chevron C Texaco downstream distribution assets in West, and Central Africa, which they both

UNTOLD IMPLICATION OF THE WITHDRAWAL OF ROCHAS OKOROCHAS’ CHIEFTAINCY TITLE

If he were livestock, Rochas Okorocha would probably be a peacock. The former Imo governor, like the improbable creature and flightless bird, is so stuck on garnering acclaim and social capital that he rarely appreciates the diminishing of his worth. Although pundits have accused him of grossly overestimating his repute, Okorocha’s travails are of far more intense origins. The man simply does not know how to experience shame, perhaps because it’s a sensation beyond his ken. If he were truly permeable by shame, he would have completely retreated from social space, following the monumental disgrace dealt him by the Eselu of Iselu Kingdom, Oba Akintunde Akinyemi. The Ogun monarch, on Monday, announced the withdrawal of the conferment of Otunba Asoludero chieftaincy title on the former Imo State governor. The first-class traditional ruler also cancelled the installation ceremony, scheduled to hold on September 19. In a letter dated August 9, signed by the ruler, Okorocha was informed of the bad news. In the withdrawal letter, Oba Akinyemi, who had recently pronounced Okorocha as the Otunba Asoludero of Iselu kingdom in Yewa-North Local Government Area of Ogun, hinged the conferment on Okorocha’s “exemplified track record of unifying different tribes across the country.” But the Oba, in the letter he wrote to Okorocha on Monday, explained that the chieftaincy title was withdrawn “in the interest of peace and harmony.” While he claimed the Iselu kingdom still held Okorocha in high esteem, he advised him to accept the withdrawal as an act of God. “Senator sir, I must state that my decision to withdraw the chieftaincy title earlier coffered on you is not premised on any hatred for you but is done in the interest of peace and harmony. For the record, I want to declare to Your Excellency that Eselu-in-Council and the good people of Iselu Kingdom, will continue to love you and other well-meaning Nigerians, home and abroad,” said the letter. “Your

acquired through a Special Purpose Vehicle (SPV) called Corlay Global. Amongst other allegations, Petroci Holding claimed that following its inability to fully participate in the administration of the joint venture business due to civil unrest in Cote d’Ivoire back in 2008, some joint venture assets were allegedly mismanaged and dissipated by MRS. Petroci also claimed that MRS Nigeria transferred some assets of Corlay Global to its MRS Africa Holding and paid a dividend to shareholders between 2010 and 2014 with its involvement. Following an arbitration decision on March 24, 2021, and June 21, 2021, respectively, over the consequential dispute arising from the disagreement in the joint venture business, particularly concerning Petroci indebtedness to MRS in the acquisition of Corlay Global. Petroci claims it is shut out from the critical decision-making process of the company. Recently, some officials of Petroci in Lagos to attend a crucial Annual General Meeting of the company said they were prevented from attending the meeting.

find, to salvage an irreparably damaged reputation. The crimes for which a man is crucified constitute his real history. The same is true of Okorocha.

Beneath the glitter and gloss of his charming world, Aminu Tambuwal’s life is laden with chaos. While a great deal has been written about his marital abilities as a husband to two wives, the bulk of the reportage simply performs the function that mascara does on a facial scar. The Sokoto governor lives in perpetual fear of a marital showdown between his two first ladies: Mariya, his first wife, and Maryam Mairo Mustapha, his second wife. Thus he spends every precious second baiting chaos with sanity and shuttling wild hate with anxiety in a hushed war of brides. Governor Tambuwal’s life is an actual struggle to contain the whims and wiles of his two wives - whom he treats as his First Ladies on equal terms. Having failed to establish one wife’s superiority over the other, he spends each day camouflaging with a cheerful facade and in a desperate bid to hide his inner torment or gloss over it. Hajiya Mariya was heartbroken by Tambuwal’s decision to marry Hajiya Maryam as his trophy wife. Hajiya Mariya came first, sometime in 1995, reportedly from the renowned Sanyinna Royal family of Sokoto. She met Aminu as — she remembers him— “a gentle young law graduate from the neighbouring town of Tambuwal.” She liked him, married him, bore him four children, and stood by him all through his foray into politics. Findings revealed that Tambuwal grew incredibly fond of Mariya due to her unwavering loyalty to him while he struggled to grow a pair and

assert himself in the cutthroat world of politics. This, however, didn’t stop him from becoming smitten with Hajiya Maryam 21 years later. Tambuwal reportedly married Maryam for her sophistication, knowledge of the inner workings of power and position, and accomplishment in telecommunications, oil and gas, IT, and the energy sectors. He needed a woman that’s ravishing and active to serve as his first lady, argued Maryam’s apologists. The latter felt it was a given that Maryam would automatically emerge as the governor’s only first lady, given Tambuwal’s history with his first wife. Tambuwal was hardly seen in the company of his first wife even while he served as a member and Speaker of the House of Representatives. While his colleagues attended social functions with their wives, Tambuwal arrived alone at such events. But as Sokoto governor, Tambuwal needed a very active first lady. Unlike the former Edo governor Adams Oshiomhole who travelled abroad to get a wife, Tambuwal decided to go for one of the local girls. Tambuwal took her to Saudi Arabia to perform the Lesser Hajj and married her afterwards in a high society wedding. But ever since he got married to Maryam, he has managed to curtail her reach and influence within him. Despite being smitten with her, Tambuwal restricted her area of influence and “operation” to Abuja to allow his first wife, Mariya, unrestricted influence and area of “operation” in Sokoto State House. To maintain the peace in his home or at least a semblance of it, Tambuwal struggles to internalise strength in his fibrous frame. His life is a constant aspiration to the strength and compassion of superman, who carries the fate of the people on his shoulders while dealing with the demands and tumult of his romance and hushed war of competitive wives. While he worries about feeding clans, communities, and villages, nurturing earth guaranteeing the security of lives and properties in the state, Tambuwal also has to contend with the challenges of managing two First Ladies

Maryam Tambuwal

Mariya Tambuwal

TWO FIRST LADIES, ENDLESS WAHALA! LEGEND OF TAMBUWAL AND HIS SUPER WIVES

Okorocha Excellency should note that the doors of my palace will continue to remain open to you and other patriotic Nigerians, at all times for the progress of my community and Nigeria, in general. My advice to Your Excellency is that you should continue to help the needy in Nigeria, especially through your foundation.” The letter further noted, “Also, do not forget that development of every society requires all hands to be on deck; hence Your Excellency’s continuous show of love towards the development of Iselu Kingdom will always be greatly appreciated. Sir, it is my belief that what tomorrow will be, will be determined by the future. “Therefore, I appeal that you should see this development as an act of God. I pray to the Almighty God to continue to be with you in your political career and in all your endeavours. Any inconveniences this withdrawal of the chieftaincy title might have caused you, are indeed regretted. Please, accept the assurances of my esteemed regard.” While a lot has been written about how disgraceful it was for Okorocha to have been dealt such a crude hand by the monarch, the real import of the incident seems to be lost on the politician and his apologists. Okorocha, contrary to his delusions of grandeur, may be witnessing the beginning of the bankruptcy of his much-coveted socio-political capital. And nothing repulses Nigeria’s high society as much as a bankrupt politician. Money is never enough, as Okorocha would

T H I S D AY ˾ MONDAY AUGUST 16, 2021

FACT FILE

TB Joshua: Why Pastor Chris Okotie’s Fights Won’t Stop at the Graveyard’s Edge Jealousy is the beef

hris Okotie must be mightily proud or ashamed of himself. Like the proverbial cockerel that exerts influence only on its own dunghill, he has summoned applause for naming his fart the big bang of reason. For the umpteenth time, he has created a poetic masterpiece of tantrums in his frantic search for the applause of random galleries. It is often said that a true man of God would tame his demons to attain enlightenment. But like a dark messiah of evangelical mayhem, Okotie let loose his inner demons upon the World Wide Web - thus shining darkness in a world in need of light. In his characteristic flurry, the senior pastor of the Household of God Church International Ministries has described the late Prophet TB Joshua as a deceptive magician who carried the Bible around. TB Joshua, the founder of the Synagogue Church of All Nations (SCOAN), died on June 5 this year after battling a stroke. But the penultimate Sunday, Okotie put out a video on his Youtube page where he analysed what he claimed was the late clergyman’s belief system. He also alleged that Joshua fulfilled a biblical pattern of “Bar-Jesus,” a false prophet who equated himself with Jesus. “What is the truth about TB Joshua? Who was he? Was he a product of Christianity? Or a practitioner of shamanism? Was he a servant of the Lord Jesus? Or some itinerant religious quack? Was he a true prophet who was misunderstood? Or a hypocrite masquerading under the habiliment of the Faith?” Okotie asked. He added, “When God begins a work in scripture, particularly from the Old Testament, he begins with patterns, what we call types, shadows, adumbrations. You say why because the patterns determine the flow of power and authenticity of that

enterprise. He is a magician, a sorcerer, and calls himself a prophet. Notice Joshua doesn’t call himself an apostle. He doesn’t call himself a teacher. He doesn’t call himself a pastor because if he calls himself by any other name outside of prophet, he does not fulﬁl the pattern. So, he must stick with that appellation. He is a magician who claims to be a prophet, but he is a false prophet.” If Joshua isn’t a real prophet as he would have the whole world believe, does Okotie fare any better? Is Okotie a real prophet? Is he a true product of Christianity or just another conman with the gift of the garb? Is Okotie the messiah? Is he a truth-sayer or yet another jealous pretender to the pulpit pelting seeds of malice at TB Joshua’s gravestone? Whatever anyone thinks, it is markedly unbecoming for a self-confessed man of God (MOG) to remain envious of a fellow human, let alone a fellow MOG, in death. What happened to the spirit of forgiveness? Sources close to Okotie revealed that his enduring beef with the late TB Joshua is about the latter’s eﬀortless and overwhelming dominance of the pastoral circuit with his controversial miracles and philanthropy. The widespread acclaim and respect that y he enjoyed eventually earned him the malice and jealousy of a pastor like Okotie, whose only claim to fame was his large vocabulary and penchant for an illfated presidential ambition. Okotie is not a messiah of any kind, neither is y he a teacher. A teacher will try to show you the way to enlightenment, not brighten your path with hate.

at separate home fronts. He has to think of sheltering his wards from future storms and catering to their mothers’ needs. In a nutshell, he has to be a good administrator, an astute politician, a wonderful father to his kids, and an agile husband to his wives. Is Governor Tambuwal really up to the task?

HOW 2023 GOVERNORSHIP AMBITION FORCED DELTA’S EX-ATTORNEY GENERAL AND WIFE TO DIVORCE

The quest for power is apt to corrupt the minds of those who seek it. Thus the tragedy of Peter and Joan Mrakpor. Like two ghastly feral cats locked in a fierce battle over a fish bucket, the couple clawed at each other over anticipated spoils of their political enterprise. Where they ought to deploy reason, they resorted to force, forgetting that force, if unassisted by judgment, collapses through its own mass. In the end, Peter, the immediate-past Attorney General of Delta and Commissioner for Justice divorced his wife, Joan, a former Delta House of Assembly and former House of Representatives member. The couple, who legalised their marriage in 2010, had until recently enjoyed a promising union that was blessed with triplets (all girls), while two children, a boy, and a girl, earlier had by Joan, were adopted by Mrakpor as his children. Unfortunately, their 11-year marriage hit the rocks in the wake of each party’s plot to assume the office of the governor of Delta. Trouble loomed about their union when Joan, the current director-general of Delta State Capital Territory Development Agency, discovered that her husband, Peter, had started eyeing the governor’s seat. Joan, who hails from Delta North senatorial district, is eyeing the deputy governor’s position. Sources close to the divorced couple disclosed that Joan warned her ex-husband, Mrakpor, to drop his governorship ambition. Confirming the divorce in a statement signed by Akpovoke Otiti, Media Assistant to Mrakpor, the ex-commissioner, stated that his marriage with Joan broke down in July 2020 due to what he described as “irreconcilable behavioural patterns.” He had instructed his solicitor to commence legal proceedings to dissolve their failed marriage formally. “It is pertinent to state that the marriage between Dr Peter Adogbejire Mrakpor (SAN) and Honourable Joan Onyeamachi Mrakpor (nee Ugbah) broke down finally in July 2020 due to irreconcilable behavioural patterns,” said the statement. Mrakpor also debunked social media reports that he had an illicit affair with his estranged wife’s sister, which produced a child. He described the allegations as “false, satanic and a calculated attempt to destroy my hard-earned reputation.”

Oyedepo

HOW DAVID OYEDEPO’S TURNING LIVING FAITH CHURCH INTO A COTTAGE INDUSTRY

And of all plagues with which mankind is cursed, ecclesiastic tyranny seems to be the worst. Ask the sacked pastors of the Living Faith Church worldwide, 40 of them. Recently, Bishop David Oyedepo-led church sacked 40 pastors for reportedly failing to generate enough revenue for the church’s coffers. In the wake of widespread outrage against the church’s leadership and lampooning of Oyedepo’s mission, fresh information has emerged on the issue. The pastors sacked were reportedly presiding over rural churches that depend on the headquarters for funding rather than bringing money into the church’s purse, contrary to widespread perception triggered by the initial rumour. Highly placed sources within the church revealed that the Living Faith Church (LFC) had the vision in the year 2019 to open 10,000 rural churches nationwide. By the close of 2020, about 90 per cent of the cottage churches had been reportedly built following a prototype designed and constructed by the church professionals. With the structures in place, there manifested an urgent need to recruit competent pastors to provide spiritual and administrative leadership of the churches, but that proved an uphill task. Pastoring in LFC had followed a pattern of training and scholarship since its foundation 40 years ago. However, due to the urgent need to provide leadership for the cottage churches, LFC embarked on massive recruitment of individuals to take charge of the 10,000 new churches. It was learnt that many of the new recruits

were neither spiritually nor morally prepared, yet they were employed in positions of authority as clerics. Consequently, they made a killing by supporting ungodly acts such as abuse of grace, outright deceit, absconding from church while working full-time elsewhere, and so on. Beyond the reality of the 40 pastors are complaints about the rural churches; pundits averred that they were never intended to be money-spinners in the first place; rather, they depend on the LFC solely built, equipped, and maintained by the church and its pastors-in- charge. He added that the story in circulation about these churches not making sufficient income was therefore patently false and misleading. Oyedepo is in a class of his own. He makes his fortune – running into billions of naira – from his Living Faith Ministries, aka Winners Chapel; touted to be the world’s largest church building, the church is situated in Ota, Ogun. Inside the vast expanse hosting the church called Canaan Land, Oyedepo also has his Covenant University, where he presides as chancellor. Within the same expanse, Oyedepo has secondary and primary schools. The primary school, Kingdom Heritage, has branches in 12 Nigerian cities, and the secondary school, named Faith Academy, charges N250,000. The university charges different fees in three different colleges, but the fees are from N650,000 and above. His massive financial success running educational institutions has inspired the Winners’ Chapel founder to go into full-scale school establishment. He owns Landmark University in his Omu-Aran hometown in Kwara. There is another one under construction in Abuja. He was also said to have announced that he will set up seven more universities in different parts of Africa, with South Africa’s university already under construction. Bishop Oyedepo aggressively preaches prosperity, claiming it is the right of all his church members to be rich and members of his church call themselves Winners, thus alluding to their supposed victory over poverty, demons, and diseases. As part of his business empire, Oyedepo established Dominion Publishing House and has written about 70 books covering various aspects of the Christian faith, teaching followers how to succeed in business.

INTRIGUES AS CHEVRON CMD, ROTIMI BABALOLA’S WIFE FILES FOR DIVORCE OVER BATTERY

A peep beneath Rotimi Babalola’s posh exterior would reveal something close to a beau or a beast. A glimpse beneath his wife, Adediwura’s exquisite attires would reveal where smooth skin turned abrasive by wild pummeling. A deeper glimpse into her psyche would reveal how love cracked to the scaled scars inflicted on her broken heart.

If you look hard enough, you just might discover how serrated blades of blame pierced the veins of the couple’s wedlock till they gushed with pain in likely and unlikely places. All is certainly not well in the home of the Chief Medical Director of Chevron Nigeria Limited, Rotimi Babalola. Adediwura, his wife, has approached the Lagos High Court to file divorce papers, alleging that her husband had been displaying acts of intolerable cruelty and inhumane conduct towards her and the only child produced in the marriage. Court documents obtained revealed that Adediwura, in suit number LD/9231WD/2021, prayed the court to end their marriage because her husband (the respondent) had abandoned their matrimonial home since January 1, 2021, leaving her and their only child behind. Babalola, it was alleged, has constantly resisted efforts by their Counsel, A.O Agbola, Esq of Cheakley Chambers, and Olusola Idowu (SAN) of Olusola Idowu & Co. to reconcile them. Adediwura contended that the divorce petition became her last resort since her husband appeared unwilling to embrace reconciliation efforts. According to her, her husband’s repeated physical assault of her had often left her with bruises. In addition, the petitioner “is also praying the court for an order of perpetual injunction restraining the respondent from interfering with the petitioner’s possession of the matrimonial home at No 8, Service Crescent Cooperative Village, Badore Ajah, Lagos. She is also seeking an order of perpetual injunction restraining the husband from coming within a one-kilometre radius of any house or office premises that may be occupied by her and N1,000,000 monthly maintenance among other reliefs.” Adediwura had earlier reported her husband’s alleged constant harassment, intimidation, assault, and threat to life to the Domestic and Violence Response Team, which referred the matter to the divisional police officer, Ajah, via a letter dated July 17 2021. Checks at the Ajah divisional police headquarters confirmed that the DPO has already invited the couple on the matter. The DPO, it was gathered, had warned the husband to stop going to the house and allow peace to reign. As of press time, the matter is still pending at the police station. Babalola, according to his wife’s complaints to the DVRT, was in the habit of beating her up at the slightest provocation. How Chevron handles the ongoing scandal would determine its reputation as a corporate social citizen. Pundits are wary that the oil giant would sweep the matter under the carpet administratively and simply let the issue thaw out in the public space as it is wont to do when such grievous allegations are made against its senior staff. A beast in civilisation certainly never smells like a beast in the wild. But when the beast resides in a man, it becomes difficult for even the most adept forensics specialist to sense it, let alone an innocent, lovable bride.

T H I S D AY ˾ ͯʹ˜ ͰͮͰͯ

CITYSTRINGS

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

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

he atmospheric weather condition of Katsina was cold after a heavy downpour that lasted for two hours on a recent Thursday morning, but Musa Muhammed and his younger brother Ahmed seemed oblivious of the weather. They had more pressing needs as they moved from one restaurant and stranger to the other with their bowls outstretched and their faces solemn enough to extract empathy. Their parents were among the 31 people killed by bandits in Tsauwa village of Batsari Local Government Area of the state last year. Following the death of their breadwinners, these children have been forced to grow up fast. Daily, they have been exposed to extreme harsh living conditions and are often perpetually in lack. Accordingly, Musa and his brother, who now live with their Islamic teacher, Mallam Sagir in Rahamawa community within Katsina City, are facing serious challenges ranging from lack of food, water, proper accommodation and a stable caregiver that will spearheads their affairs. Thus, the innocence of childhood has been tanned out of them. On the day THISDAY stumbled on them, Musa's face was scrolled up in a frown. It was difficult to believe he was only 13 years old. He had grown up so suddenly, with the heavy burden of providing for himself and his six-year-old brother, Ahmed. Musa and his younger brother whom were among those that survived the attack, fled their ancestral home (Tsauwa) immediately after the bloody invasion with their stepmother, Zainab to Katsina, the Katsina State capital. Their father, Muhammed, whom they said, was a big-time millet and beans farmer in the village, was killed with their mother, Fatima, and their "corpses burnt" by the marauding bandits. More disturbing, both of them do not know the whereabouts of their stepmother, who led them out of the gory massacre to Katsina metropolis. The 13-year-old orphan, who was seen with his younger brother that fateful Thursday at Glorious Restaurant opposite United Bank of Africa (UBA) in Kofar-Kaura, Katsina metropolis, begging for alms to feed themselves, was reluctant to talk until he was sure a token would drop into the red bowl he held in his hand. Our correspondent, who interviewed Musa in Hausa, reached out into his pocket for N500 note. It was not until then that Musa whose younger (Ahmed) was crying for water, became willing to answer some of the journalist’s questions. Musa is unmistakably a teenager but the scaly, wrinkled skin around his feet made him seem much older. The duo generally looked unkempt in their new Sallah attires. Musa, who couldn't control his emotions while narrating their ordeals to THISDAY, said: "Some people attacked our village (Tsauwa) last year and killed my father, Muhammed and our mother, Fatima. They also killed my elder sisters—Khadijah and Hafsatu. They attacked the village in the night and after their operation, I saw the lifeless bodies of our father, mother and two of my sisters". After the attack on Tsauwa village, Musa said their stepmother told them that the perpetrators killed many women and children, kidnapped and rapped many other women. They also burnt their silos and carted away many cows in the village. He added that the scenario left them aground, wandering with no parental care and struggling for survival. Musa further explained that they were sleeping when the marauders invaded the village, saying it was after the bandits ransacked the village that their stepmother, Zainab brought them to Katsina and "handed us over to one Mallam Sagir in Rahamawa. "Since last year, we have not seen our stepmother and life is now unbearable for me and my younger brother. We do follow other Al-majirai to other parts of Katsina city to beg for alms but most at times, they collect what is meant for us so we stopped following them for begging", Musa added as he cried uncontrollably. According to Musa, "Our biggest problem now

Musa and Ahmed is food because every day, my brother and I have to trek from Rahamawa to either Kofar-Kaura, Sabon-Angwa, Central Market and Kofar-Kwaya in search of what to eat and drink. Another problem that we are facing is lack of good accommodation; we do sleep on bare floor at Mallam Sagir's house". Asked where they got money to sew Sallah clothes, Musa said: "I bought the yards N800 from the little money we realised from begging while Mallam (Sagir) paid for the sewing. Myself and my younger brother depend on alms we receive from individuals daily for survival. We are calling on government and businessmen to assist us with shelter and food". Sadly enough, these children have had to witness agonising events as they roam the streets begging for alms. "Sometimes, we beg for the whole day without getting a kobo

or food to eat", Musa said. The condition of living that Musa and his brother are in at the movement is a recipe for trauma because they are exposed to the physical trauma of cold, rain and sun. Thus, the absence of a nurturing environment endangers Musa and Ahmed's psychological stability and has long-lasting effects as lack of a nurturer destroys the children’s ability to empathise, love and feel loved. The consequence of this, for these orphans, is that they can become dangerous to themselves and society. They can be easily recruited for criminal activities. In their early teens, except they receive appropriate care, they can begin to show signs of juvenile deliquescence, hence the need for government and well-to-do individuals to assist these bandits-made orphans to earn a living.

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

However, in a bid to assuage the hardship afflicting Musa, Ahmed and other orphans in the state, Governor Aminu Bello Masari, on January 20, 2021 inaugurated a special committee to ascertain the numbers of orphans and widows left behind as a result of banditry across the 11 frontline local government areas of the state for assistance by the state government. The humanitarian committee under the chairmanship of the Deputy Governor, QS Yakubu Mannir, is saddled with the responsibility of identifying orphans and widows in the affected Local Government Areas of Batsari, Jibia, Faskari, Kankara, Sabuwa, Danmusa, Dandume, Kurfi, Dutsin-ma, Safana and Danja, and to suggest the kind of assistance to be provided to the victims by government. Another onerous responsibility of the committee is to advise the state government on how to improve the lives of the orphans in the 11 frontline local governments ravaged by bandits as well as to determine the source of financing the project and co-opt any other individual that may assist in the conduct of the committee's assignment. Therefore, with the inauguration of this committee, bandits-made orphans like Musa and his younger brother, Ahmed, are expected to be identified and assisted by the state government by taking them to government-owned orphanage homes and other related institutions to enable them live a good life, while commencing or continuing with their education.

T H I S D AY ˾ ͯʹ˜ ͰͮͰͯ

CRIME&SECURITY

Nigerian, Spanish Navy Strengthen Partnership on Maritime Security in Gulf of Guinea

CRIME SITUATION REPORTS

SECURITY: WHY YOU MUST EXERCISE CAUTION WHILE EMPLOYING DOMESTIC STAFF Gbolahan Samuel Moronfolu This article chronicles and x-rays major challenges and issues confronting and touching on individual lives, families and homes , especially as they relate to DOMESTIC SERVANTS. It also shares insights and highlights some of the factors that must be carefully considered before employing domestic staff . When these are not factored in , calamities and harms could result .

FOC, Western Naval Command, Rear Admiral Jason Gbassa (fifth left); Spanish Defence Attache Marcelino Cabanas Ansorena (fourth left); CO Spanish Naval Ship MV VIGIA, Lt Cdr Javier Garcia (fifth right); and other senior officers

FOC NAVTRAC, Rear Admiral Kamarudeen Lawal and principal staﬀ oﬃcers with the Spanish team Chiemelie Ezeobi

o strengthen the long standing partnership between both nations, as well as reiterate its commitment in curbing maritime crimes in the Gulf of Guinea (GoG), the Spanish Navy recently paid a port call to the Western Naval Command (WNC) of the Nigerian Navy. The Spanish team, which was led by the Defence Attache, Mr. Marcelino Cabanas Ansorena and Commanding Officer, Spanish Naval Ship MV VIGIA, Lieutenant Commander Javier Garcia, was received by the Flag Officer Commanding (FOC), WNC, Rear Admiral Jason Gbassa. During the visit, the ship carried out exercises/drills with selected Nigerian Navy Ships in addition to other engagements including visit to the Naval Training Command (NAVTRAC). In his address during the courtesy call to his office, the FOC WNC noted that the GoG is currently bedeviled by the activities of criminal elements who take advantage of limited capability of the navies in the region to adequately secure

the area. Therefore, "Spain, as well as other nations of the world, have found it necessary to collaborate because of the impact of criminalities on our waters to the trade between our nations, we will do everything within our powers to encourage and to further enhance the relationship and ensure that the two navies work together. “We hope that while you are here, you will gladly share information/ intelligence with us and let us know how the Nigerian Navy can assist to make your mission easy. “Recall that earlier in April, we received SNS FUROR and this is now a repeat which goes a long way to show how Spain values her relationship with Nigeria", he said. Also speaking, the FOC NAVTRAC, Rear Admiral Kamarudeen Lawal, solicited opportunities for Nigerian Navy pilots to have comparative training in flight operations. He said: “If the Spanish Navy can oblige us such opportunity, it will be to a great advantage for the Nigerian Navy. Their visit is coming at a time when the Nigerian Navy is in dire need of training, especially in the fight against piracy in the

Gulf of Guinea." Highlighting the role played by NAVTRAC in training and retraining officers and ratings for an efficient Nigerian Navy, he added that "recently, we graduated 19 Special Boat Services (SBS) operators from our SBS school and it is gratifying to note that nine of those officers and ratings were from Ghana Navy. “So, on our part, we have been training sister African countries so as to contribute to our fight against piracy in the Gulf of Guniea". Reiterating commitment to a secured maritime, the Spanish Ambassador to Nigeria, Mr Marceleno Ansorena, said that can be achieved through collaboration because of the volume of trade between the two countries. He said: “About 80 per cent of the trade with Nigeria goes through the Gulf of Guinea, therefore, it is important for us to participate and collaborate with you. “Training will be one part of the collaboration exercise as well as sharing information which is important to update knowledge on security about the sea and the Spanish Navy vessels."

DEFINITION A domestic worker (staff) is a person of “workable age” who works within the scope of a residence. They perform a variety of household services for individuals or families as may be determined in their terms of contract or employment DOMESTIC WORK refers to such services performed by domestic workers, which include; Maintenance and cleaning of the House; cooking and cleaning of utensils; Laundry & ironing as well as care for children & aged dependents and other household errands for remuneration. Domestic work provides an important livelihood source for illiterate men/women or those with very little education. It could also be undertaken by even the literate in western world as alternative source of income. WHY DOMESTIC STAFF? Some of the identified reasons many people employ the services of Domestic staff are: 1. Distance of parents to couples. 2. Loss of parents or couples who are in positions to lend assistance 3. By virtues of death by either of the couples 4.After birth/ child delivery 5. When couples are either Govt/ Private employee working class or closes late or always return home late 6. Some couples hatred of crèche or Nannies to undertake their wards/children. 7. Care of aged/over aged mother or Father 8. Isolation when Son and Daughter got married and have to settle down in their new marriage/home. 9. When children travels abroad for schooling or in search for jobs/work. 10. Religious factors/believes. 11. Single parents 12. On hubby’s instructions to reduces stress 13. To attend to ill parents etc. Before employing a domestic worker, ask yourself the following questions: i. Do I really need a domestic staff? ii. What sex or age bracket of domestic staff do I need? iii. If you are married, have you discussed it with your spouse? Not minding whether he or she contributes to the up keep the family iv. As a worker or business man/woman, will your earnings be sufficient to carter for your personal/family financial obligations as well as your domestic employee? PROBLEMS/DIFFICULTIES FACED BY THE DOMESTIC WORKERS The women domestic workers face the major problems such as – low wages, extra work, long

working hours, lack of holidays, harassment, sexual exploitation, physical torture, ill treatment, lack of welfare facilities, absence of social security measures, lack of rest, development of fatigue, lack of freedom, low level of education. Having satisfactorily answered the above questions in the affirmative, the procedures below should be taken into consideration; i. REFERRAL: It is always advisable to get a referral. Contact friends, neighbors, colleagues and family relations or even church members you know had or have reliable maids without serious problems. Though, some prefer online referrals (social media) which in some cases may not be so reliable, as they could be possibility of employee submitting fake addresses or identities that could not be easily traced or verified. ii. ENSURE A BACKGROUND CHECK: Do not be so anxious to get a new domestic staff, ensure you carry out a proper background check on would be employee, to ascertain certain facts about his/her home/address, family background previous job and criminal records. This you can do personally, through help of a reliable friend or security expert. iii. MEDICAL TEST: The fact that a domestic staff indirectly becomes a member of the family as long as his/her services last in any home, makes it imperative for employers of these services to carryout comprehensive medical test in other to ascertain the health status of their domestic employee, or risk being infected on course of employee interaction with members of the family. Some of such sicknesses checkout for includes Tuberculosis, HIV, Hepatitis and or unwanted pregnancy. iv. TRUST BUT NOT SO QUICK : Allow your domestic employees sufficient time to earn your trust before granting them custody of your children unaccompanied or even access to your valuables or other restricted areas, such as your personal room and avoid display or discussion of money and financial matter. To do otherwise might be of great security consequence. v. FAIR TREATMENT: Do not compromise treating your domestic staff fairly. They are also humans with feelings, pains and challenges. Listen to their complaints, “share their pains and you gain their brains”. Do not withhold their salaries or deny them food, they may vent it on your children or your valuables. It is better to pay and lay them off when no longer comfortable with their services. -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. ....Cont'd next week

T H I S D AY ˾ ˜ 16, 2021

BUSINESS/MONEYGUIDE

AGF Tasks Tax Administrators on Nigeria’s Fiscal Challenges James Emejo ÓØ ÌßÔË The Accountant General of the Federation (AGF), Mr. Ahmed Idris, has called for the active involvement of the Chartered Institute of Taxation of Nigeria (CITN) in addressing the revenue challenges the country. Idris, while interacting with the president and members of the institute who visited him in Abuja, tasked tax administrators to deploy their expertise to assist the government at all levels uncover new frontiers that could be explored to shore up the dwindling finances. He said, “The Chartered Institute of Taxation of Nigeria has a very important role to play in salvaging the revenue challenges at all levels. It is important to make your presence and expertise available to all levels of governments to address the challenging revenue situation.” He said professional tax

practitioners and administrators should also deploy their expertise in capacity building for government revenue personnel to improve their efficiency and bring up new ideas that will help the government exploit revenue sources that have remained untapped. He however, restated the readiness of the federal treasury to continue to collaborate with the institute and expressed optimism that the partnership will make a lot of difference in achieving the dream of increased revenue generation. He said the federal treasury will sign a Memorandum of Understanding(MOU) with the CITN on the areas of collaboration and promised that all necessary measures will be taken to ensure that the collaboration is successful and yields the desired results. While noting that the office of the AFG has had a longstanding, mutually beneficial and profit-oriented relation-

ship with the institute, Idris sought their participation in a special research that has been commissioned by his office to explore key sources of revenue and make them available for the government. On the need to improve the capacity of revenue directors deployed to revenue agencies, the AGF assured that henceforth the CITN would be engaged to train prospective revenue directors before deployment to improve their capacity to deliver on their mandate. Speaking, CITN President, Mr. Adesina Adedayo, commended the AGF for the successes recorded by the federal treasury in implementation of the financial management reforms initiatives of the federal government. He added that the institute presently has 42 district societies spread across 32 states and the FCT and restated the commitment of the CITN to entrench professionalism in the Nigerian tax system.

Alpha Morgan Capital Managers Gets Investment Grade Rating Alpha Morgan Capital Managers Limited has been rated BBB-(IM) with a stable outlook by Agusto & Co. Rating Services. This Investment grade rating is attributable to Alpha Morgan Capital’s disciplined investment management process, powered by a team of highly experienced and dedicated professionals, robust risk management and IT infrastructure which enhances the firm’s ability in delivering on its obligations to clients and counterparties. “This stable outlook rating

reflects Agusto & Co. expectation that Alpha Morgan Capital Manager ’s risk management and internal control process ensures that investors’ funds are placed following industry best practices. This also reflects the experience and qualifications of the decision-making committees, established process for trade execution and active operational risk oversight, “the company said in a statement. Group Managing Director of the bank, Ade Buraimo

in the statement stressed that going forward, Alpha Morgan Capital intends to make the rating process an annual exercise while committing to sustaining and improving its performance. Alpha Morgan Capital Managers Limited is a Fund/Portfolio Manager with an operational track record of nine years in the asset management business. The firm provides management services primarily to HNIs, retail and institutional clients across Nigeria.

Access Bank to Reward Customers N600m Nume Ekeghe In its continuous stride at promoting savings culture and rewarding its customers, Access Bank Plc is set to reward customers with over N600 million in the DiamondXtra season 13 promo. The bank in a briefing to announce the commencement said the promo, which kickoff over the weekend, will run for 12 months and would feature its reoccurring salary for life, Business Grant, Free Rent, education grant and different cash prize categories from its monthly and quarterly draw. The bank added that the last 12 seasons of the promo has attracted 2.5 million customers with over 22,000 directly impacted by the promo. The Executive Director Personal Banking, Victor Etuokwu said: “We have been rewarding and changing the lives of our customers for 12 years, and are excited to launch the 13th season of this amazing scheme. “The DiamondXtra reward scheme is one of the ways

the bank creates value and meets the needs of its loyal customers. With the launch of this new season, the reward scheme has been revitalized and reloaded to create winners every day. “ He said DiamondXtra is one of the most successful deposit products in the country, as it not only encourages customers to save their money, gain interest on their savings but also rewards them as they keep saving, with life transforming prizes like Salary 4 Life, Business grants, education grants and so much more. On his part, Senior Banking Advisor, Retail, Mr. Robert Giles said: “From the very beginning, Diamond Xtra was designed by our customers themselves. They told us that the return on savings was small, yet the reason to save was to transform and improve lives. Since that initial launch we have shared over Five Billion Naira of prize money through daily, weekly, monthly and quarterly draws. We have given out education grants, business grants and Salary for life.

“Season 13 was designed by over 600,000 customers who were surveyed to inform them of the changes they want to see. Our customers said they want to keep Salary for life, Business Grant and Free Rent. They also told us to add lots of smaller prizes so everybody has a chance to win. And finally they asked us to bring it closer to home, and that’s why this year we are taking Diamond Xtra into every neighborhood so that people can see the difference and share with friends. Welcome to Season 13.” Also speaking at the launch, the Group Head, Consumer banking, Adaeze Umeh said over 2000 customers would now be part of the consolation prize every quarter with special attention given to women, “and there is something for every family. “For season 13, the women will be greatly involved. For every draw we have, about 10 of the winners will be women. One person will get the opportunity of getting a shopping allowance for N100, 000.”

Idris

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͯͳ ͰͮͰͯ

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

T H I S D AY ˾ ˜ ͯʹ˜ ͰͮͰͯ

Olam Mulls Listing on LSE by Q1 2022 as Profit Hits $667.8m Darasimi Adebisi One of the world’s biggest suppliers of food ingredients, Olam International is planning to list on the London Stock Exchange (LSE), a move that could send it shares into the FTSE 100. A report hinted that the company’s food ingredients division will be floated in the first half of 2022. The company with agricultural trading group based in Singapore,

said recently that it would float its food ingredients division in the UK in the first six months of next year. According to report, the company seeks to join the exchange’s premium listing, which requires tighter governance standards, and could achieve a multibillion-pound market value that would make it eligible to join the FTSE 100 index of Britain’s biggest quoted companies. Olam Food Ingredients is also

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targeting a secondary listing in Singapore, where its parent company is a member of the stock market. Olam International was founded in Nigeria in 1989. Meanwhile, the has released its annual results with operating profit gaining 36 per cent to $667.8 million, but taking into account exceptional costs, the figure was in fact down 22per cent to $245.7 million, largely due to costs associated with its palm oil facilities in Gabon.

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The Group’s revenue rose by 8.6 per cent year-on-year to $35.8 billion as the business moved to tackled pandemic conditions. As the company explained, its key move to separate its activities into two main divisions, global agri (producing $21.5 billion in revenues for last year), and Food Ingredients (delivering $12.5 billion for 2020), including cocoa, had remained on track, and is an integral part of its overall business strategy.

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However, the company noted an improving picture for the second half of the year, in which revenues grew at a higher rate of 9.9per cent (totaling 18.7 billion for the second half), as its business adapted to global conditions. There were encouraging signs for its food ingredients division (including cocoa, below), with its $12.5 billion revenue figure for the year representing a 3.3per cent increase over 2020’s results,

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driven by volume growth, as well as higher selling prices in its value-added food ingredients and solutions segment. EBIT results were reported at $771 million for last year for ingredients, which was down 2.8per cent, attributed to the impact of Covid-19 on the company in the first half of 2020. The business noted that 2019 had proved an exceptionally strong year, propelled by the rise of its cocoa operations.

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MONDAY, ͹;˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAY AUGUST 16, 2021 • T H I S DAY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 12Aug-2021, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 156.49 157.89 -3.32% Afrinvest Plutus Fund 100.00 100.00 4.73% Nigeria International Debt Fund 316.29 316.29 -21.60% Afrinvest Dollar Fund 110.81 110.81 -1.14% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 7.68% AIICO Balanced Fund 3.27 3.43 -3.82% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.77% Anchoria Equity Fund 141.41 143.03 6.31% Anchoria Fixed Income Fund 1.11 1.11 -16.48% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 19.71 20.30 8.67% ARM Discovery Balanced Fund 431.74 444.75 7.83% ARM Ethical Fund 38.23 39.38 13.41% ARM Eurobond Fund ($) 1.09 1.09 -1.06% ARM Fixed Income Fund 0.97 0.97 -7.65% ARM Money Market Fund 1.00 1.00 8.01% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.66 105.66 3.88% AVA GAM Fixed Income Naira Fund 1,016.85 1,016.85 1.69% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.01 2.01 -10.83% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.13 2.17 -8.81% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 2.32% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 8.05% Paramount Equity Fund 16.60 16.91 3.81% Women's Investment Fund 136.81 138.40 2.81% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 7.15% Cordros Milestone Fund 2023 118.73 119.50 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 107.87 107.87 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 8.39% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 7.10% EDC Nigeria Fixed Income Fund 1,139.50 1,155.01 -1.06% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,401.21 1,401.21 11.38% FBN Balanced Fund 191.88 193.25 2.24% FBN Halal Fund N/A N/A N/A FBN Money Market Fund 100.00 100.00 9.60% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

126.61 158.27

126.61 3.64% 160.50 4.69% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.96 1.60 1.18

Offer Price Yield / T-Rtn 1.00 5.61% 3.96 2.40% 1.63 4.78% 1.18 4.14% coralfunds@fsdhgroup.com

Bid Price 3,716.17 3,358.16 100.00

Offer Price 3,769.63 3,358.16 100.00

Yield / T-Rtn -0.77% 2.50% 3.71%

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.66% Vantage Balanced Fund 2.72 2.78 -4.78% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 152.18 152.46 -2.13% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.73% Vantage Dollar Fund (VDF) - June Year End 1.10 1.10 0.86% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.42 1.44 4.17% Lotus Halal Fixed Income Fund 1,143.11 1,143.11 5.29% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.47 11.54 9.62% Meristem Money Market Fund 10.00 10.00 7.64% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.66 1.69 7.17% PACAM Fixed Income Fund 11.51 11.57 -5.09% PACAM Money Market Fund 10.00 10.00 5.75% PACAM Equity Fund 1.64 1.66 3.91% PACAM EuroBond Fund 112.70 114.51 2.58% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.42 134.00 11.21% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.05 1.05 10.12% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,279.49 3,314.49 2.11% Stanbic IBTC Bond Fund 232.21 232.21 3.27% Stanbic IBTC Ethical Fund 1.22 1.24 4.24% Stanbic IBTC Guaranteed Investment Fund 305.65 305.65 3.73% Stanbic IBTC Iman Fund 224.44 227.78 2.84% Stanbic IBTC Money Market Fund 100.00 100.00 8.16% Stanbic IBTC Nigerian Equity Fund 10,359.74 10,510.96 -1.26% Stanbic IBTC Dollar Fund (USD) 1.27 1.27 3.36% Stanbic IBTC Shariah Fixed Income Fund 115.23 115.23 3.74% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 102.94 102.94 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.30 1.32 1.63% United Capital Bond Fund 1.91 1.91 4.08% United Capital Equity Fund 0.87 0.89 9.31% United Capital Money Market Fund 1.00 1.00 9.75% United Capital Eurobond Fund 119.59 119.59 4.49% United Capital Wealth for Women Fund 1.05 1.07 3.51% United capital Sukuk Fund 1.06 1.06 5.91% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.93 13.04 8.94% Zenith Ethical Fund 14.23 14.36 16.53% Zenith Income Fund 24.27 24.27 1.21% Zenith Money Market Fund 1.00 1.00 6.26%

REITS NAV Per Share

Yield / T-Rtn

125.18 51.80

10.79% 2.67%

Bid Price

Offer Price

Yield / T-Rtn

13.44

13.54

1.71%

122.55 97.15 17.92 18.12

125.61 99.28 18.02 18.22

1.92% -2.08%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.92 5.90 17.56 1.00 19.32 153.77

3.96 5.98 17.66 1.00 19.52 155.77

3.72% 3.71% 8.18% 6.31% -5.81% -29.91%

NAV Per Share

Yield / T-Rtn

107.40

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

MONDAY, ͹;˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Taliban Captures Kabul, Seizes Presidential Palace as Ghani Flees One of the Taliban’s top officials has said the real test of governing is set to begin, after the group entered the Afghan capital, Kabul, and took control of the presidential palace. According to Al Jazeera, Mullah Abdul Ghani Baradar, who heads the Taliban’s political bureau, said in a brief video statement on Sunday that the test would begin with meeting the expectations of Afghans and resolving their problems. Al Jazeera had obtained exclusive footage of Taliban leaders, surrounded by dozens of armed fighters, addressing the media from the country’s seat of power earlier on Sunday. They entered the palace after President Ashraf Ghani fled the country amid the Taliban’s rapid advance, which saw the group capture 26 of Afghanistan’s 34 provincial capitals in less than two weeks. Ghani later said in a statement posted on Facebook that he fled to prevent further bloodshed. “The Taliban have won with the judgement of their swords and guns, and are now responsible for the honour, property and selfpreservation of their countrymen,” he said. The Pentagon and the US Department of State said they are taking steps to secure Kabul’s international airport to enable the safe departure of thousands

of US and allied personnel from Afghanistan via civilian and military flights. In a joint statement Sunday night, the agencies said the US security presence will have expanded to nearly 6,000 troops over the next two days, with a “mission focused solely on facilitating” the departures. They will also take over air traffic control. “Tomorrow and over the coming days, we will be transferring out of the country thousands of American citizens who have been resident in Afghanistan, as well as locally employed staff of the US mission in Kabul and their families and other particularly vulnerable Afghan nationals,” the statement said. “And we will accelerate the evacuation of thousands of Afghans eligible for US Special Immigrant Visas, nearly 2,000 of whom have already arrived in the United States over the past two weeks.” ‘It’s shameful,’ says ex-Ghani adviser of president’s departure Shafiq Hamdam, a former adviser to Afghan President Ashraf Ghani, slammed Ghani’s decision to flee Afghanistan on Sunday amid the Taliban’s rapid advance on Kabul. “It’s shameful. It’s embarrassing. People feel abandoned, people feel betrayed,” Hamdam told Al Jazeera from Washington, DC. Ghani justified his departure in

Special Task Force Gives Update on Rescues, Arrests Troops of the Special Task Force (STF) aka Operation SAFE HAVEN said it has continued with patrols to search for the few remaining victims of Rukuba road attack on commuters in Jos, adding that troops have also dominated Jos metropolis with robust patrols and surveillance to maintain law and order. In a statement by its spokesman, Major Ishaku Takwa, the STF said, “As at today 15 August 2021, troops of Operation SAFE HAVEN have rescued a total of 36 victims of the attack. They are in a stable health condition while those hospitalised are responding to treatment. Equally, more arrests have been made in connection with the heinous act bringing the total of 21 suspects in custody. “Troops have dominated Jos metropolis with robust patrols and surveillance. Security checkpoints have also been beefed up to enforce the curfew imposed on Jos North, Jos South and Bassa local government areas. “While urging law abiding citizens to comply with the curfew, the Commander Operation SAFE HAVEN has called for calm and urged all to always make good use of our help center lines to provide information to troops for prompt action. He further restated his commitment to deal with the

perpetrators of the heinous act. According to the police command, 20 supects have already been arrested while 33 victims were rescued.

a statement on Facebook, saying it aimed to prevent further bloodshed. “The Taliban have won with the judgement of their swords and guns,” he wrote. Former US President Donald Trump called for his successor Joe Biden to resign on Sunday over the swift takeover of Afghanistan by Taliban fighters, as US troops withdrew from the country after

nearly 20 years on the ground. “It is time for Joe Biden to resign in disgrace for what he has allowed to happen to Afghanistan,” Trump said in a statement. The Taliban have reconquered Afghanistan in a lightning surge 20 years after they were toppled by the US invasion. They entered Kabul on Sunday,

Gunmen, on Saturday, abducted Sanusi Maikano, son of Alhaji Abubakar Maikano, theAdministrative Officer to President Muhammadu Buhari and have since demanded N200 million as ransom. =Sanusi was reportedly abducted at his residence in Gwantu, headquarters of Sanga Local Government Area of Kaduna State at about 9pm on Saturday. A source close to the family said Sanusi, a Gwantu-based farmer, was not at home, when the gunmen numbering about 10, stormed the house. Another source said they were not more than eight. A family source, who spoke to THISDAY in a telephone chat

presence in Afghanistan, the foreign ministry said Sunday, leaving a skeleton staff at the embassy in Kabul. “There has been a reduction in staff at Iran’s embassy in Kabul,” foreign ministry spokesman Saeed Khatibzadeh said in a statement, adding that some personnel remained to ensure the “embassy’s necessary activities” continue.

CUSTODIAN MENTORS' CONFERENCE… L-R: Group Managing Director, Custodian Investment Plc, Mr. Wole Oshin; Founder/CEO, Zapphaire Events Group, Mrs. Funke Bucknor-Obruthe; Singer, Producer, Entertainer, Mr. Olubankole Wellington (Banky W) and Founder/ Principal, Alder Consulting, Mr. Leke Alder, during the Mentors Conference, organized by Custodian Investment Plc in Lagos on Saturday.

Osinbajo: With God's Backing, Nigeria Will Overcome its Challenges Deji Elumoye in Abuja Vice President, Prof. Yemi Osinbajo has given an assurance that with God's backing, Nigeria will overcome the myriad of challenges facing it with time. He was emphatic that the nation would eventually rise from its security and socio-economic challenges into the glorious light of dawn that would herald greater things for the country and its citizens, because the Spirit of God is in the land. Osinbajo stated this yesterday in Abuja, at a send forth service for Revd. Israel Adelani Akanji, the new President of the Nigerian Baptist Convention, who until recently, served for 22 years as Senior Pastor and Minister in Charge of the First Baptist Church, Garki. The vice president in a brief remarks at the service quoted from the first chapter in the Biblical Book of Genesis, to compare events

surrounding the creation of the heaven and earth to the nation’s present challenges and the lives of great individuals. According to him: “indeed, the lives of great men and women, even as the lives of nations teach important lessons.” He noted that, “in the beginning when God created the heavens and the earth, the earth was without form, and void; and darkness was on the face of the deep. The beginning was bleak, confused, without form, empty. "This is the way of the lives of some of the greatest men and women and also nations. There might be confusion, grief, trouble, darkness and fear. But even in that confusion, the Bible tells us that the Spirit of the Lord was hovering over the face of the deep. God was in the darkness, He did not run away, He is not asleep. “So, it is with our nation. Today, some things may seem bleak and grave, with insecurity, economic

difficulties, but even in the midst of these problems, the Spirit of God is in this land, it is here, hovering over this nation.” He further said: "So, what happens next in verse three? We are told that suddenly God spoke, ‘let there be light…and there was light.’ “The darkness came to an end, the fear, insecurity came to an end. So, it shall be for you and our nation. In the next verse, scripture says, God saw the light that it was good….so it shall be for you and our nation. The light will come and it shall be good, very good.” The vice president also commended the attributes of the new President of the Baptist Convention, describing Akanji as a humble and credible leader who has continued to forge pathways for peace and unity as an effective bridge builder between faiths and ethnicities, realising that Christ died for all men, and that the gospel

Gunmen Abducts Son of Buhari’s Top Aid, Demand N200m Ransom John Shiklam in Kaduna

more than two weeks before the August 31 deadline set by Biden to complete the withdrawal of American troops from the country. It was under Trump that the US brokered a deal with the Taliban in Doha in 2020 that would have seen the US withdraw all its troops by May 2021, in exchange for various security guarantees from the group. Iran has reduced its diplomatic

yesterday said, Sanusi was in their family house when the gunmen came to his house. “The gunmen were about 10 or thereabouts, they came around 9pm on Saturday. When they came, he (Sanusi) was not in the house, he was in their family house. They don’t even know him, but they were with somebody who knows him. “The gunmen met one of the wives at home. His second wife traveled. They asked her the whereabouts of her husband, but she told them that he was not at home. They ordered her to call him on phone, but she told them that she had no airtime to make calls and they threatened to kill her,” he explained. According to the source, as they continued to threaten the wife,

Sani, the younger brother,who did not know that the house was invaded by gunmen walked in. “His younger brother, who was unaware of their presence in the house, came in when they were asking the wife to call him. They initially thought that he was the person they came for and they took him outside the house, however, one of them told the others that he was not Sanusi. “They tied him down and went back to the house, insisting that the wife must called her husband. Eventually Sanusi was called and as he left the family house on his way to his residence, they abducted him. “As I am talking to you, I am at his residence. The kidnappers even called today (Sunday) to demand for N200m ransom.”

Meanwhile, the security guard at the resident was said to have been arrested for not reporting the incident to the police after he escaped when the gunmen struck. “The security guard in the house was able to escape, but he did not report the matter to security agents, so he has been arrested as a suspect.” The criminals were said to have fled with their victim before security agents got information about the incident. When contacted, spokesman of the Kaduna State Police Command, Muhammad Jalige, said he was not aware of the incident, but promised to contact the Divisional Police Officer (DPO) in the area and get back. He was yet to get back at the time of filing this report.

is the gospel of peace. While congratulating the cleric on his inauguration as President of the Baptist Convention, Osinbajo noted that Akanji has also served the Body of Christ in Nigeria as the Christian Association of Nigeria (CAN) Chairman of Federal Capital Territory, and is still serving as the CAN North Central Zone’s leader. According to him, Akanji’s “practical demonstration of the gospel of the love of Christ is his recipe for conflict resolution.” Noting his determination to forge pathways for peace

and unity, the VP observed that Akanji’s doctorate thesis was on, “Theology of Conflict Transformation in Contemporary Nigerian Society.” "I took the trouble to read portions of it to better understand his thoughts. He proposed a new approach which challenges the religious institutions, particularly the Church, through its pastoral ministry, to become actively involved in the transformation of conflict in the nation through a practical theology, a theology of hospitality,” he added.

VAT C O L L E C T I O N : F I R S A P P E A L S F E D E R A L C O U RT H I S T O R I C J U D G E M E N T

mentioned in items 58 and 59 of the Exclusive Legislative List of the 1999 Constitution. The court agreed with the Rivers State government that it was the state and not FIRS that was constitutionally entitled to impose taxes enforceable or collectable in its territory of the nature of consumption or sales tax, VAT, education and other taxes or levies, other than the taxes and duties specifically reserved for the federal government by items 58 and 59 of Part 1 of the Second Schedule of the 1999 Constitution, as amended. The court also declared that the defendants were not constitutionally entitled to charge or impose levies, charges or rates (under any guise or by whatever name called) on the residents of Rivers State and, indeed, any state of the federation. Rivers State had generated N97.15 billion from Pay as You Earn (PAYE) taxes, N979.13 million from Direct Assessment, N349.89 million from road taxes, and N12.25 billion from other taxes, including N6.45 billion from MDAs, in 2020. The judgement, if implemented across the country, would be a major setback to the federal government's efforts to boost its tax revenue drive.

Reacting to the development, Fiscal Policy Partner and Africa Tax Leader at PwC, Mr. Taiwo Oyedele, told THISDAY that the practice of the federal government collecting VAT and PIT on behalf of states had been going on because states did not have the capacity to collect them. Oyedele stated, “Based on the constitution, consumption tax belongs to the states and I don’t think that anyone is debating that. So, what happened in 1993, when the VAT law was introduced, was the understanding that the federal government had the capacity to collect. “At the time, even Lagos State did not have the capacity to collect. So, the federal government was only collecting on behalf of the states and then keeping a percentage to cover the cost of collecting. We can debate on whether the percentage is high or not and that is why they only keep 15 per cent and 85 per cent goes to the states and local governments. “We have also had different cases in the past, including up to the Supreme Court, which was between Lagos State and Federal Inland Revenue Service (FIRS), and it was a debate between VAT and consumption tax.”

MONDAY AUGUST 16, 2021 • T H I S D AY

MONDAY AUGUST16, 2021 • T H I S D AY

NEWS

Ogunlewe, George Trade Tackles over Tinubu’s Presidential Bid He stands a better chance, says former works minister He’s talking absolute nonsense, former NPA chair Replies Emma Okonji and Nosa Alekhuogie Old political allies-turned foes, a former Minister of Works during the Olusegun Obasanjo era, Senator Adeseye Ogunlewe and a former Chairman of the Nigeria Ports Authority (NPA), Chief Olabode George, yesterday, traded tackles over the rumoured presidential bid of a former governor of Lagos State, Asiwaju Bola Tinubu. While Ogunlewe tipped Tinubu as standing a better chance if zoned to South-west, a consideration he claimed to have put in prayers, George would rather dismiss is childhood friend as “talking

nonsense”. They both spoke recently on the Morning Show of the ARISE News Channel, Lagos. Addressing the possibility of zoning the presidency in 2023, Ogunlewe, who also declared support for the Governor Mai Mala Buni leadership of the All Progressives Congress (APC), said, “My personal prayer is that the Presidency should be zoned to the South-west, so that we can have the capacity to manage the economy of Nigeria properly and there is no other person I will support other than the National Leader of APC, Senator Bola Ahmed Tinubu for President. “But on the other hand, no

NDLEA Nabs Italybound Woman with 100 Wraps of Heroin Michael Olugbode in Abuja An Italy-bound woman, Ms. Nnadi Chinyere has been caught by the operatives of the National Drug Law Enforcement Agency (NDLEA) with two parcels plus 100 wraps of heroin at the departure hall of the Murtala Mohammed International Airport, Lagos. Nnadi, according to a statement that was issued yesterday by the Spokesman of the NDLEA, was arrested on Tuesday August 3, 2021, during an outward clearance of passengers on Qatar Airways flight to Florence, Italy. He said the drugs found

on her were concealed in five containers of hair relaxer cream. In the same vein, on Thursday, August 12, 2021, a United Kingdom bound consignment of illicit drugs was intercepted at the NAHCO export shed of the airport by the operatives of the MMIA Command of the agency. Babafemi said further investigation revealed that the consignment contained 66.600 kilogrammes of cannabis sativa; 1.600 kilogrammes of heroin and 1.450 kilogrammes of cocaine with a combined weight of 69.65 kilogrammes, inside all concealed cosmetics.

matter how you publicise the name of some people, they must show the willingness to contest, nobody will offer them that position for free. I think Bola Ahmed Tinubu stands a better chance, because we have people, who have followed politics in

Nigeria for quite a while, which we have learnt from and he is one of them; Atiku Abubakar is another person. “When you want to balance things and also think of who has the mental capacity to manipulate things, Tinubu is good at that.

If you talk about structure and investment, he is not a small person in that. He knows his onions, he knows what to do and how to get it as he has done this severally. So, if you want to compete with him, please start early, because he knows how to do

things to win,” Ogunlewe further said. On the leadership of APC, Ogunlewe, who once represented Lagos East in the Senate, said Buni’s continued stay in office would benefit the party, despite dissenting voices within the ranks.

FOR CLEANER ENVIRONMENT…

L-R: Manager, Sahara Foundation, Mr. Oluseyi Ojurongbe; Director, Governance and Sustainability, Sahara Group, Mrs. Pearl Uzokwe; Head, Business Development, Sahara Power Group, Mrs. Victoria Loko-Gom;The Eletu of Ojora / Iganmu Kingdom, Chief. Surajudeen Dosumu; and Bashorun Ojora/ Iganmu Kingdom, High Chief. Hakeem Oyewole Ojora, at the unveiling of Sahara Foundation recycle exchange hub in Ijora community, Lagos… recently ETOP UKUTT

All Kidnapped Victims in Kwara Released, Say Police Hammed Shittu in Ilorin The new Kwara State Commissioner of Police, Mr.Tuesday Assayomo, has revealed that all victims of kidnappimg along Omú Aràn and Òkè Onigbin axis of the state last week have been released. Assayomo disclosed this in Ilorin during his maiden

interactive session with journalists over the weekend. He said that he has set up tactical units to combat the menace of kidnappers, cultists and people involved in cyber crime activities. The new police boss noted that his administration would not condone any activities of kidnappers, cultists and other social vices in the state.

He pointed out that the kidnappers and other miscreants in the state should prepare to leave the state with immediate effect or they would meet their waterloo. Assoyomo revealed that he is in Kwara State to strengthen its security architecture. He assured sister services of his readiness to work

hand in glove with them to consolidate the achievements recorded in the state before his arrival. The police commissioner used the opportunity to assure the good people of Kwara State of his determination to put into maximum use all strategies that would help him to achieve this onerous objective.

Ado Poly to Dismiss Students Defection: Three APC Govs Meet Ladoja in Ibadan Nabbed for Internet Fraud, KemiOlaitaninIbadan Badaru, Atiku Bagudu and Mai AbdulFatai Buhari, Oloye place behind closed doors, was Buni of Jigawa, Kebbi and Yobe Sharafadeen Alli, Hon. Bimbo held between 1:35p.m and 2:29 Adepoju, and others. p.m. Former Governor of Oyo States respectively. Prostitution, Others The governors were Though details of what they The party had lost the State, Senator Rasheed Ladoja,

Victor Ogunje in Ado Ekiti

The Federal Polytechnic, Ado Ekiti, has threatened to dismiss any student that would be caught engaging in internet fraud, fondly called “yahoo” and other social vices like cultism, examination misconduct and prostitution. The institution advised its students to report to the authorities any case of intimidation and sexual harassment by fellow students or lecturers for prompt investigation and disciplinary actions. The Rector of the Federal Polytechnic, Dr. Hephzibah

Oladebeye, said this in Ado Ekiti while administering matriculation oath on 6,617 Ordinary and Higher National Diplomas’ students for 2020/2021 academic session. At the occasion, 56 OND and HND students across 28 departments were given a sum of N560,000 cash for their superlative academic performances for the year. Oladebeye told the matriculating students that the polytechnic has produced quality graduates who are making waves in their chosen careers, and warned that nobody would be allowed to taint the established enviable records of the institution.

MEDCAN Extends Strike Ultimatum by Four Weeks Onyebuchi Ezigbo in Abuja Medical and Dental Consultants Association of Nigeria (MEDCAN) has resolved to extend the strike ultimatum given to the federal government by one month beginning from(today) Monday, August 16. This was part of the resolution reached at the virtual National Executive Council

meeting of the association held last night. MEDCAN had on July 26, 2021 issued 21 days ultimatum to the federal government to correct the unwarranted removal of the consultants from CONMESS to CONUA salary scale by their employing universities who had earlier placed them on CONMESS upon appointment about 10years ago.

yesterday played host to three serving governors on the platform of the All Progressives Congress (APC) at his Ibadan residence in Oyo State. The governors are Abubakar

accompanied by a former Speaker of the House of Representatives, Hon. Dimeji Bankole. They were ushered into his residence by APC Senator,

discussed were still sketchy as at last night, it was gathered that the meeting was in a bid to lure the highly respected politician to the APC. The meeting, which took

state to the PDP in the 2019 governorship election after the APC had ruled for 8 years. The visitors and their host, however, declined comments after the meeting.

SERAP Urges Buhari to Pay Doctors with N4.8bn Earmarked for WhatsApp Monitoring Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to utilise the N4.8 billion the federal government earmarked for the monitoring of WhatsApp messages and calls of Nigerians to pay some of the salaries of striking resident doctors and improve public healthcare

facilities for the sake of poor Nigerians who rely on those facilities. In the open letter dated 14 August, 2021, and signed by the SERAP Deputy Director, Mr. Kolawole Oluwadare, the organisation also urged the President to send to the National Assembly a fresh supplementary appropriation bill, which would reflect the redirected budget for approval.

The SERAP expressed concerns that the proposed spending to monitor WhatsApp messages, phone calls, and text messages of Nigerians is inconsistent with the country’s constitution and Nigeria’s international human rights obligations. The letter reads in part: “The proposed spending of N4.8 billion of public funds as contained in the

Supplementary Appropriation Act, which you signed last month would give rise to serious violations of the human rights of Nigerians and other people, as it would grant free rein to government agencies to conduct mass surveillance of communications of people. The proposed spending also fails to meet the requirements of public interests, legality, necessity, and proportionality.

Navy Officer Shoots at Anambra Commissioner's Car David-Chyddy Eleke in Awka Anambra State Commissioner for Lands, Hon. Bonaventure Enemali, yesterday escaped death in the hands of some naval officers. Enemali was allegedly shot at yesterday evening, when a naval officer at Awkuzu Junction

shot at his car, piercing the back windshield of the Ford Escape SUV, which the Commissioner was driven in. Sources said the incident happened as the Commissioner was being driven to Awka through the Enugu-Onitsha expressway. The state police command

Public Relations Officer, DSP Toochukwu Ikenga, said he was not aware of the attack, but Enemali, who spoke to THISDAY confirmed the incident, saying it was still like a dream to him. He said: “As I speak, I’m still trying to piece together the details of what happened. It

happened just this afternoon.” When THISDAY inquired for the Public Relations Officer of the Navy outstation in Anambra State, Lt Ajikobi, he said he would get back with details, saying that he was in a noisy event. As at the time of filing this report, Ajikobi was yet to get back with details.

MONDAY AUGUST 16, 2021 • T H I S D AY

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Hushpuppi: Group Petitions US, Alleges Lapses in Kyari’s Investigation Adedayo Akinwale in Abuja The Coalition of Northern Groups (CNG) has petitioned the United States(US) Embassy, Abuja where it lamented what it described as ‘fundamental procedural lapses’ in the conduct

of the investigation by the Federal Bureau of Investigation (FBI) on the suspended Deputy Commissioner of Police, Abba Kyari. The petition signed by CNG’s Spokesperson, Mr. Abdul-Azeez Suleiman and served on the

Kwara APC Leader Lists Conditions for Peace

Hammed Shittu in Ilorin

A leader of the All Progressives Congress (APC) in Kwara State, Chief Iyiola Oyedepo, has stated that until the alleged impunity that characterised the party is stopped, the APC would not make any impact in the 2023 general election in the state. He, however, urged the national leadership of the party to take a political will by allowing equity and justice to thrive in the state chapter of the party in order for peace to return to the party. Oyedepo, who spoke with journalists in Ilorin on the sideline of his 67th birthday and the establishment of weekly ‘Political Dialogue’ over the weekend, stated that: “I don’t tell lies; the APC cannot move forward in Kwara State as it is being

presently constituted. “Don’t even talk of reconciliation again. There are many reconcilable differences without positive results at the end of the day, but the only one person that is working for the destruction of the party is our state Governor, AbdulRahman AbdulRazaq.” He continued: “And I want to say that if the APC national leadership still want Kwara State to be for the party, the first thing to do is to check the injustices and persecutions being carried out by the governor and also disallowing him from 2023 contest in the state. The leadership of the party should also ensure free, fair and transparent elections in the party. “If that are not addressed, and the governor continues to operate this way, the APC will never succeed in Kwara State in 2023 elections.”

Bilateral Trade Volume Between India, Nigeria Hits $14bn Michael Olugbode in Abuja As the world economy continues to recover from the effect of the COVID-19 pandemic, India’s volume of bilateral trade with Nigeria has picked up reaching $14 billion in the first quarter of this year, representing about a 17 per cent increase from the same period in 2020. Indian High Commissioner to Nigeria, Mr. Abhay Thakur, disclosed this yesterday during the celebration of the country’s 75th Independence Day in Abuja. The envoy said though the bilateral trade witnessed disruptions in 2020 due to the COVID-19 pandemic, which ravaged the global economy, the trade is back on track and even witnessing steady progress. He said: “The current trade

volume is nearly $14 billion. I am very happy to report that in the first quarter of this year, our trade has increased by nearly 17 per cent, compared to the first quarter of 2020. There were some disruptions due to the outbreak of the COVID-19 pandemic, but the bilateral trade is back on track and even higher than what it was in the previous year.” Speaking on the ties between both countries, the Indian envoy said: “India has achieved a lot in terms of its relationship with Nigeria. Our relations predate each other’s independence and have become major trading partners. “We are also supporting each other on the multilateral fora on issues of global concerns especially counter-terrorism and economic growth of countries around the world.

American Embassy in Abuja on Saturday, August 14, a copy of which was made available to THISDAY on Sunday, said it did not deny the FBI or any other police organisation for that matter, to investigate crimes, but expressed worry by the trajectory introduced around Kyari’s case. The CNG cited Articles 6 and 7 of the African Charter

on Human and Peoples Right, Section 36(1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), and the United Nations Universal Declaration of Human Rights which affirms that everyone charged with a penal offence has the right to be presumed innocent until proven guilty according to law in a public trial at which

he has had all the guarantees necessary for his defence. It pointed out that the FBI might have invariably breached the standard legal and diplomatic practice by neglecting to contact either the Nigerian High Commission in the US or the Nigerian authorities through the FBI liaison offices based in Nigeria before going ahead to file for indictment of Kyari.

It noted: “A noted a number of fundamental procedural lapses in the conduct of the investigation which tend not only to threaten the sovereign status of Nigeria, but also infringe on its citizen’s rights and civil liberties; threatens the rule of law and confronts the humanity and civilisation that the people United States of America stands for.”

CONGRATULATIONS...

L-R: Mrs. Alice Mbadiwe; Mr. Otitodilichukwu Mbadiwe; and former Nigerian Ambassador to Congo, Mr. Greg Ozumba Mbadiwe, when Otitodilichukwu, who is their son, was called to the bar at the Nigerian Law School in Abuja…recently

FG Scales Up Post-COVID-19 Interventions for Women, Girls Kuni Tyessi in Abuja The federal government has revealed that it has scaled up its interventions for the benefits of women and girls in its bid to cushion the effects of the nationwide lockdown due to the COVID-19 pandemic. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, revealed this during a one day dialogue on "the Economic Impact of

COVID-19 and Assessment of National and State Recovery Plans and Policy Options," which was a partnership between the ministry and a German corporation. Ahmed said that special public works programme to employ 1000 persons each in the 774 local governments in the country has been implemented and serving as improved development outcomes, and improved economic resiliency. She added that government would continue to make

critical investments in key sectors, including agriculture, infrastructure, health, and education. "We are scaling up interventions aimed at improving the economic empowerment of women and girls, a key driver of economic growth, improved development outcomes and improved economic resiliency. This includes enhanced access to financing and capacity building for women owned businesses, particularly MSMES.

“We are also working collaboratively across ministries, departments and agencies with state and local government to address financing for key crossing issues which includes working significantly to reduce poverty and harness our demographic dividends to reduce to achieve sustainable and inclusive growth, partly through job creation and by enabling private sector and prioritising human and capital development," she said.

Senate Spokesman Backs Signing of PIB Hammed Shittu in Ilorin The Chairman, Senate Committee on Media and Publicity, Senator Ajibola Basiru, has said that it would be uncharitable for anyone to work against the signing of the Petroleum Industry Bill (PIB) into law. He said that the three per cent earmarked for the host communities in the bill would account for over $523.8 million. The Senator Representing Osun Central Senatorial District made the disclosure in Ilorin while speaking with THISDAY.

Basiru, who spoke against the backdrop of an alleged move by some members of the National Assembly to persuade President Muhammadu Buhari not to sign the bill into law, said: "I will not say that it will jeopardise the entire process and I’m saying with sense of responsibility that it will be uncharitable for any legislature to say that the president should not sign because three per cent petroleum OPEC of host community requirement. "That amount three per cent although looks very easy to call but it amounts to $523.8 million

annually. "So, are we saying that the President should not allow the host community to earn that amount of money with prospect of possible improvement on that amount in the nearest future and of course aside the three per cent to the host community. "By section 104 of Sub Section 4 of Petroleum Industry Bill as passed, the penalty for gas firing also expressly provided that we go to the host community for environmental remediation and the welfare of the host community. "So I think the legislature

in question is only taking the position in isolation and it’s also oblivious of the fact that the benefit the community will realise from the rejuvenated competitive oil and gas market. "And I believe that democracy is all about majority and of course as a southern senators, our position was five per cent but because of the conviction that our oil and gas market must be competitive and we also believe that there must be a stepping point for the past thirteen years or so that we have been on this Petroleum Industry Bill.

‘Marshy Terrain Hinders Rescue of Vehicle Trapped in Ebonyi Mining’ Marshy terrain in Abakaliki, Ebonyi capital where a vehicle plunged into a pit has hindered rescue operations 48 hours after the incident occurred. The News Agency of Nigeria (NAN) reported that the yet to be identified vehicle plunged into the abandoned mining pit on Saturday but efforts to rescue the passengers failed due to poor visibility as the incident happened in the evening. NAN correspondent who was at the scene of the rescue operation yesterday at Enyigba in Abakaliki, reported that efforts

by the crane provided by the state government failed as the pit was water logged. Governor Dave Umahi, who visited the scene of the incident, was seen supervising the rescue operations and dishing out instructions on how to save the unverified passengers trapped in the pit. The governor was accompanied to the scene by the Commissioner of Police in the State, Aliyu Garba, heads of other security agencies and top government officials. According to NAN, scores of people watched the rescue efforts.

The onlookers were however, disappointed as the vehicle went off the crane’s hook whenever the equipment tried retrieving it from the flooded pit. Ebonyi State Police Command’s Public Relations Officer, DSP Loveth Odah, told NAN that rescue efforts would continue on Monday(today). “All efforts made to retrieve the vehicle failed as it remains unidentified with the passengers inside it. “We are still hoping for the best and urge the people to remain calm,” she said.

Chairman of neigbouring Ikwo Local Government Area (LGA), Chief Stephen Orogwu, described the incident as unfortunate, noting that the marshy terrain of the area made rescue efforts difficult. “The pit is several feet beneath the ground as local, external and construction experts have been contracted to retrieve the vehicle,” he said. An eye witness, who spoke under the condition of anonymity had earlier told NAN that he was driving behind the vehicle when it suddenly veered from the road and plunged into the pit.

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Toll Gates: Stop Imposing More Hardship on Nigerians, PDP Tells APC Chuks Okocha in Abuja The Peoples Democratic Party (PDP) has described the contemplations by the All Progressives Congress (APC) and its government to impose more hardship on Nigerians, through the re-introduction of toll gates on major highways, as a downright act of wickedness against the suffering masses. In a statement by the National Publicity Secretary, Kola Ologbondiyan, the PDP said: “Our party, after an extensive

consideration, insists that the move to return the toll gates to allow APC interests to further fleece already impoverished Nigerians, is offensive, vexatious, inflammatory and as such should not be contemplated under any guise whatsoever.” The party urged Nigerians to recall that the PDP administration dismantled the toll gates 18 years ago in order to ease the burden on the people as well as end the corrupt regime of operators. The PDP therefore, completely rejects the return of toll gates, as it

will add more economic burden on the people, lead to hike in transport fares, increase in the prices of goods and services as

well as provide safe haven for corrupt APC leaders to extort money from innocent Nigerians. According to PDP, APC’s

decision to impose levies on the highway, even after it had increased the pump price of fuel to an extortionate N165 per

liter, further confirms that APC is a heartless party that is out to fleece and impose hardship on the people to benefit its leaders.

FG Should Invest in SMEs, Not Infrastructure, Says Obi Olawale Ajimotokan in Abuja Former Governor of Anambra State, Peter Obi, has decried the policy of the federal government which focuses more on the provision of infrastructure while allegedly neglecting the Small and Medium Enterprises (SMEs). Obi condemned such policy yesterday while speaking on Arise News network Morning Show programme. He said many countries that have tackled their problem did not use infrastructure as a prop to drive the economy. The vice-presidential candidate in the 2019 Nigerian general election asserted that poverty should not be seen as a scary thing; rather, he cautioned that what should be the focus is if the country

is making wise and proper investment. According to him, “I have said it severally that SMEs drive the economy of every country. Poverty is something that is seen all over the world. It happened in China. Everybody is aware that China pulled over 400 million people out of poverty. It also happened in India, but in five years, they pulled over 200 million people out of poverty. It happened in Vietnam also.” He used Bangladesh as a case study of how any country can successfully drive its economy by investing in education and SMEs. Obi noted that as of 2008, the Bangladeshi GDP was $101 billion, the per capita was $753, while the debt was $50 billion, which represented 50 percent of the GDP size.

Joda’s Death: Nigeria Has Lost Patriot, Says Buhari Deji Elumoye in Abuja President Muhammadu Buhari has described the death of the former federal Permanent Secretary and Chairman of his 2015 Transition Team, Alhaji Ahmed Joda, as the loss of a patriot and most valuable citizen who gave his best for unity and development of Nigeria. The president, who sent a delegation to Yola, Adamawa State capital, yesterday led by the Secretary to Government of the Federation (SGF), Boss Mustapha, to commiserate with family, friends and associates of the elder statesman, including the government and people of Adamawa State, said Joda’s transition was a collective loss

to the family, state, country and the world that he touched and improved with integrity and competence. Buhari, according to a statement issued yesterday by his spokesman, Garba Shehu, told the family that: “Joda was a trustworthy and loyal companion, who steadfastly stood for the interest of the nation through highs and lows. The country will not forget his sacrifices.” The Galadima of Adamawa, Alhaji Mustapha Aminu, who responded on behalf of the Joda’s family, thanked the president for sending a highpowered delegation to mourn with them, agreeing that Joda was a hero for all Nigerians.

Ogun Moves to Attract More Investors Peter Uzoho

The Ogun State Government has called on prospective investors to open their businesses in the state, assuring them of a flawless collaboration which would enhance their investments. A statement issued at the weekend quoted the state Governor, Prince Dapo Abiodun, to have given the assurance during the unveiling of a new plant at Eat and Go Limited in the Magboro area of the state. Represented by the state Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, the governor

noted that the state was in the front line for investment with conducive environment. “We welcome prospective investors to come on board and enjoy the enabling businessfriendly environment. Ogun State will continue to collaborate with our budding industrialists and domestic entrepreneurs to effect a flawless synergy in development,” Abiodun said. The governor said the state remains one of the most peaceful in the South-west, adding that the current administration remains committed to improving the ease of doing business in the state.

COURTESY VISIT…

L-R: Chairman, Nigerians in Diaspora Commission(NIDCOM), Honourable (Mrs)., Abike Dabiri-Erewa; A Nigerian award-winning Rugby Player in the United Kingdom, Mr. Mark Itoje; his parents, Mrs. Florence Itoje; and Mr. Efe Itoje, during a courtesy visit to NIDCOM oﬃce in Lagos…recently ABAYOMI AKINYELE

Breach of Contract: Appeal Court Awards 10m Damages against Unity Bank, Heritage Bank Wale Igbintade The Court of Appeal, Lagos Division has affirmed the judgement of Justice Oyindamola Ogala of the Lagos high court, which ordered Unity Bank Plc and Heritage Bank Plc to pay a firm, Shield Petroleum Nigeria Limited the sum of N10 million as damages.

Justice Ogala had in her jdgement delivered on January 19, 2018, in a suit filed by Shield Petroleum Nigeria Limited against Unity Bank and Heritage bank ordered the two banks to pay the claimants N10 million as general damages for breach of contract. Dissatisfied, Unity bank lodged an appeal no-

CA/L/855/2018 and urged the court to determine whether the court has jurisdiction to entertain the suit and whether there was a valid and enforceable contract. However, the Appellate Court in its lead judgement delivered by Justice E. O William-Dawodu dismissed the appeal and affirmed the judgement of the lower court

in its entirety. Other members of the panel, namely Justice Haruna Simon Tsammani and Justice Mahmoud Bayero consented to the judgement. Justice William-Dawodu held that the lower court had jurisdiction to entertain the suit in Lagos even though the subject in dispute is located in Oghara, Delta state.

Securities’ Dealers to Discuss Strategies for Financial Market Rebound Securities dealers in Nigeria have concluded arrangements to review strategies for the nation’s economic growth and development at an interface scheduled to bring top- level financial experts and government functionaries together in Abuja on Thursday, August 19. The forum, tagged National Workshop with the theme, “Leveraging the financial markets to achieve double digit economic growth for Nigeria”, is being

organised to identify the gaps in the government’s utilisation of the financial market and the way forward The President, Chartered Institute of Stockbrokers (CIS), Mr. Olatunde Amolegbe, in a statement said the national workshop’s theme was timely in view of the various challenges facing the financial market and the need to reposition the market for optimal utilization by all sectors.

“As financial engineers and wealth creators, we advise the governments regularly, on the imperative of utilizing the financial market to build infrastructure. This is the basis for this year’s workshop theme. Our market is largely untapped despite its potential to generate revenue for accelerated infrastructure development. “The workshop is specially packaged to enable top level decision makers in the

government and private sector to come up with initiatives that will enhance overall development of the economy through investment opportunities in the financial market. Over the years, successive governments at all tiers had taken advantage of the market to execute development projects. This model should be renewed as one of the ways to minimize incessant government borrowing.

Give Peace a Chance, Oyetola Tells APC Members Yinka Kolawole in Osogbo The Governor of Osun State, Mr. Adegboyega Oyetola, has again appealed to the members of the ruling All Progressives Congress (APC), in the state to give peace a chance and allow the ongoing appeal process run its full course. Oyetola also condemned what he termed the “unruly behavior” exhibited by some aggrieved members of the

party at the APC’s secretariat in Osogbo, and warned that no sane society would condone acts of lawlessness. He, therefore, directed security operatives to take charge of the party’s secretariat to prevent further break down of law and order. Oyetola sympathised with individuals who sustained injuries and called on security operatives to fish out perpetrators and ensure that justice was

served. In a press statement by his Chief Press Secretary, Mr. Ismail Omipidan, over the weekend, the governor noted that Osun and its people were known for peace and urged all to avoid acts that could tarnish the state’s reputable image. He further noted that political intolerance was injurious to the unity and collective peace of the state. While appealing for calm, the governor also said

that government would not tolerate any act of criminality or violence in any part of the state under the guise of politics or whatsoever. “I appeal to party members, especially those who have already filed their petitions before the appeal committee over the conduct of the last ward congress in the state to sheathe their swords and toe the line of peace and the law.

Buhari Mourns First Nigerian Pilot, Orimoloye Deji Elumoye in Abuja

President Muhammadu Buhari has mourned the first Nigerian pilot, Captain Festus Adetunji Orimoloye, who took his 'last flight' at the age of 89. President Buhari, in a release by his Media Adviser,

Mr. Femi Adesina, lauded the many decades of Orimoloye’s commitment to the aviation sector. Buhari said that the deceased trained as a pilot between 1954 and 1956 in the United Kingdom, before returning home to ply his trade, first with West African

Airways, and later Nigerian Airways for 26 years. The President recalled that Orimoloye flew with the Presidential Fleet, and was also Chief Flight Instructor and Director at Zaria Flight School between 1986 and 1988. According to him, the

contributions of the late pilot would remain evergreen in the annals of the country’s aviation industry, a fact already attested to by his being bestowed with the MFR, a national honour in 2009, and also the 50th Anniversary Award of International Civil Aviation Organisation (ICAO).

MONDAY, ͹;˜ ͺ͸ͺ͹ ˾ T H I S D AY

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

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Players from Bordeaux and Marseille formed human shield for Kalu as the Nigerian international was being attended to by medics

Host Kano Wins U-17 Noah Dallaji Basketball Tourney Host Kano State pulled a victory stunt from the hat yesterday as its team defeated Kaduna State 74-72 to emerge winner of the Under-17 Noah Dallaji Legacy Basketball Tournament at the Sani Abacha Stadium in Kano. Until the fourth quarter, the Kaduna lads were cruising to the title, leading with 10 points at 69-59. Plateau State won the third placed spot with a win over Kebbi. Kano State’s Zakari Tahir emerged the Most Valuable

Player (MVP) of the tournament. Tournament Director, Olumide Oyedeji, said at the end of the tournament that over 14 students have been picked for further nurturing in various universities in the United States. Among those selected include; Solomon Mark (Kaduna), Zakari Tahir (Kano), Obinna Azu Anthony (Plateau) Adamu Adamu (Kebbi) and Sunday Josiah (Kwara). They were adjudged the best players of the tournament. The week-long U-17 basketball

tournament organised in collaboration with Olumide Oyedeji Foundation also included a mentorship and life coaching programmes in which many the stars interfaced with youths from various parts of the northern states to teach, inspire and advice them on various career paths in sports and entertainment. Some of Nigeria's biggest names in the music, movie and sports industry present at the

Cardiac Arrest Scare as Kalu Survives Collapse in French Ligue 1

Super Eagles captain, Ahmed Musa, has challenged the Nigeria government and security authorities to work to end the "barbaric" killings across the country. The Fatih Karagumruk star took to his social media account to share his grief yesterday after 22 people were killed while several others were injured during a road trip on Saturday morning. The travellers were coming from a religious event in Bauchi in a convoy of buses when they were attacked at Rukuba Road, in Jos North Local Government Area of Plateau State. Thirty-three victims have been rescued according to a police statement, but President Muhammadu Buhari condemned the killing as a wickedly motivated attack on innocent people. Musa, however, could not hide his pain as he shared a picture of the travellers on his page with a prayer for peace for his home state, Plateau, and the entire country. “The killings of the innocent travellers that came all the way from Bauchi State after Islamic New Year Zikr heading to their various destination and got intercepted at Rukuba Road of Jos North is heinous and

Duro Ikhazuagbe with agency report Barely one month after Denmark’s Christian Eriksen suffered cardiac arrest and was rescued during a Euro 2020 game with Finland, providence and timely intervention also saved Nigerian player, Samuel Kalu from similar circumstance. Kalu, a French Ligue 1 winger with Bordeaux collapsed yesterday on the pitch before making an astonishing recovery and even continued playing against Marseille for several minutes before he was substituted. The 23-year-old Nigerian dropped to the ground just five minutes into their Ligue 1 clash with Marseille amid soaring temperatures at the Stade Velodrome. According to reports from France, there was instant concern for Kalu as players from both sides frantically called for medical attention. To prevent panic from fans at the stadium and million others watching the Ligue 1 encounter on television around the world, players from both teams formed a human shield around Kalu as he was being treated on the field

in scenes similar to which was seen when Eriksen suffered a cardiac arrest. However, Kalu made an astonishing recovery and was able to get up to his feet. The Nigerian international was walked off the pitch by his teammates while holding an ice pack against his head. Even more astonishingly, Kalu then returned to carry on playing despite what had just happened. Common sense seemed to prevail though as the matter was taken out of his hands when he was substituted for Remi Oudin. Kalu was then given a standing ovation by those in attendance for his brave attempts to play on following his collapse. The cause of the incident is not yet known but it is not the first time he has collapsed on a football pitch. Kalu had similarly collapsed during the Nigerian team's training session during the AFCON 2019 in Egypt. He’s expected to undergo medical checks at Marseille before continuing his pro career at the French club. There was no immediate response from the French club on the incident as at press time.

final hailed the Engr Noah Dallaji, President of the African Children Talent Discovery Foundation, for his commitment to youth development. They said his investment in talent discovering, nurturing of the youths across various sectors represent the most valuable course in nation building and gives hope on the future of the nation. Speaking at the occasion, Dallaji explained that his vision was to

provide a platform to discover and support talented and serious minded Nigerian youths to develop and excel in various fields of endeavour. "Nigeria can be great if we help the youths to discover their talents and support them to grow and achieve fulfillment. That is how great nations emerge,” stressed the event’s sponsor. Popular comedian, movie producer and entertainment

show host, Ayo Makun said he shares in the commitment of Noah Dallaji and the ACTDF. "The biggest problem in the entertainment industry is for young talents to get people to support them. But, we have found one in Noah Dallaji. He is full of life and ready to support. I have followed his contributions and I can tell you that if we can have about four or five persons like him, this country will be great."

Eagles’ Captain, Ahmed Musa, Tasks FG to Action over Jos Killings barbaric,” Musa wrote on Instagram. “I'm calling on the government and relevant authorities to take measures in curtailing the future occurrence of such barbaric act. May their souls rest in peace and may peace reign in our dear state

and Nigeria as a whole.” Other Super Eagles stars including Kenneth Omeruo and William Troost-Ekong expressed their grief by posting broken heart emojis as comments under Musa's post. Prior to the update about happenings in his home

state, the former Leicester City and Kano Pillars star had a memorable debut outing in the Turkish Super Lig on Saturday. Musa scored the matchwinning goal on the stroke of full-time as newly-promoted Fatih Karagumruk defeated Gaziantep 3-2.

Team Nigeria Paralympians Land in Japan, Set to Wipe Memories of Tokyo 2020 Duro Ikhazuagbe With less than a week to the commencement of the 2020 Paralympic Games, Team Nigeria athletes have arrived in Kisarazu, Japan, the venue of their training camp before departing for Tokyo. Nigeria is to participate in four events at the 2020 Paralympic Games in Tokyo. The events include; Powerlifting, ParaAthletics, Para-Table Tennis and Para Rowing. Speaking ahead of the Games, Captain of Team Nigeria Paralympians, Lucy Ejike assured Nigerians yesterday that they were not going to disappoint in Tokyo. "We have been training seriously to make sure we meet up with the standard we set at previous Games. Everything is going on well. We are confident we will

bring glory to Nigeria.” She further pledged that Nigeria was going the Games to improve on the previous world records set in some of the events. “We have world records set by Nigerians. We are hoping to maintain these records and even create new ones,” Ejike further assured Nigerians. Also speaking on the same level of optimism, Para Power-lifter, Nnamdi Innocent, expressed appreciation to the Sports Minister, Chief Sunday Dare for his motivation for the team. "We are grateful to the Minister for his support and encouragement. What he did for us during the lockdown will motivate us to excel in Tokyo. We have many world records and our target is to go there and make Nigeria proud," he corroborated Ejike’s

earlier assertion on improving on exixting world records held by Nigerians. The Tokyo 2020 Paralympic Games will be Nigeria's 8th consecutive appearance since her debut at the inaugural edition at Barcelona Paralympic Games in 1992. Nigeria had her most successful outing at the Paralympic Games in Rio 2016, finishing as Africa's best team and 17th overall in the world on the medals table with 8 gold, 2 silver and 2 bronze medals. Nigeria returned from the Tokyo 2020 Olympic Games with a silver in wrestling and a bronze medal won in the long jump. Blessing Oborududu was the winner of the women’s freestyle wrestling silver while Ese Brume picked the bronze in the women’s long jump event.

MONDAY, ͹;˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

OLYMPIC SUCCESS, TOTALLY HOMEGROWN

he echoes of the Tokyo 2020 Olympic Games are still sounding as the country takes stock of her performances over the past three weeks of the global sporting fiesta. The post -mortem by the sporting public is anything but complimentary but a lot owes to the fact that as the adage goes, hindsight has 20/20 vision. Nigerians had set high hopes in the team expecting more than the two medals the team returned with. Just on the eve of the Games, the Nigerian senior men’s basketball team, D’Tigers loaded with players born in America but of Nigerian descent, defeated the USA in a friendly competition. While a lot of people were excited about this and saw it as a great leap in the progress of our basketball, others were less convinced, insisting that a group of people assembled together in the USA and developed in the US did not reflect the development (or lack of it) of Nigerian basketball. In fact, this ‘amalgamation’ of American players with any root to Nigeria was so lopsided that not even one player from the Nigerian basketball league made the team. Rather than show the growth of Nigerian basketball, it actually reflected its death. The same applies to the female team in basketball. Participating in only their second Olympic Games, the was team was no different from the men. It was a collection of players that their only affiliation to Nigeria may have been by their ancestral roots. The situation was the same in the team’s first Olympics in

D'Tigers 2004 in Athens, Greece that when having a meeting with the athletes, the then Minister of Sport, Musa Mohammed, after listening to problems from the female basketball players turned to his Director of Sports, Patrick Ekeji and asked, “I thought this was the Nigerian Team. But I do not understand them at all. They are all speaking like Americans. Can someone explain to me what they all said?” Whether the minister was serious or joking, only he could tell but the message was that these athletes were not developed at home at all. But basketball has not been

the only sport to go this route of fishing for ready-made foreign athletes with a dint of Nigerian blood to compete for Team Nigeria. Athletics in Nigeria was a big culprit in this regard. In the past decade, especially during the Chief Solomon Ogba-led AFN, it was commonplace to see a lot of American-Nigerians don the national colours. As a matter of fact it sometimes reached the heights of non-Nigerians given express passports to compete as Nigerians. This mercenary policy hit the heights during the Glasgow Commonwealth Games where some athletes who had never ever

been to Nigeria and some not even Nigerians were given Nigerian passports and flew straight from the USA to Scotland to represent Nigeria even without ever stepping on Nigerian soil. Americans like Monzavous Edwards, Mark Jelks, Robert Simmons, Tyron Akins, Dominique Duncan and Nichole Denby joined other Nigerian-Americans like Gloria Asumnu, Regina George, Nneka Okwelogu and Ugonna Ndu to deny Nigerian that had trained so hard and were not given equal opportunity to represent their nation proudly. After the Commonwealth Games, a

couple of the American athletes ‘confessed’ to not being Nigerians and only being paid to compete for Nigeria. Some were given ‘new’ middle names like Weyinmi, Amaju, etc when their passports were given to them. Some other sports have been guilty of this too. Though not in going as bad as the Athletics Federation of Nigeria did (in bringing absolutely non Nigerians and giving them Nigerian passports), some other sports have brought in Nigerians in diaspora to compete for them at the Games. Canoeing, Kayaking and recently gymnastics are just some examples. This is by no means illegal or wrong but it is not a reflection of the development of the sport in our country. The national federations of canoeing, kayaking and gymnastics cannot feel pride in any work they have done to deserve to be at the Games. The development of their sports is non-existent back at home and all they have succeeded in doing is scouting for anybody worldwide that has a Nigerian name to come and compete for the country and justify whatever support their federation is given. It must be pointed out that most times, these ‘prodigal Nigerians’ only compete for the nation when they see their chances fail in competing or qualifying for their ‘preferred countries’. But as the basketball teams’ failure in Tokyo would tell

you (the teams, both the male and female teams, failed to win even a single game at the Olympics), these lazy and short cut route to sporting success always end abysmally. If we go down to history, Nigeria’s Olympic successes and sporting successes in general have always been homegrown. All our Olympic medalists have been homegrown, so have the majority of our sporting teams that have experienced some sort of success. The Nigerian U-17 and U20 football teams were a fearful team in world football till we started inviting ‘European-born’ Nigerians into the teams. Even our female soccer team lost its invincibility in Africa when we felt that imported players and officials from Europe were better equipped than the home bred ones. Our sporting success must come from well-planned strategies from the grassroots level, carefully implemented programmes, patient training and developmental activities, improvement of coaches’ knowledge and provision of facilities, and also adequate investment in the sporting ecosystem. No matter how well we scout or poach athletes developed in other countries or climes, our success would come from homegrown products. Ese Brume and Blessing Oborududu demonstrated that quite vocally in Tokyo.

FlyingStartforNigeriansinEuropeanLeagues

Okoye

Maduka Okoye Beaten Four Times in Opening Game

uper Eagles first choice goalkeeper, Maduka Okoye, conceded four times as Sparta Rotterdam lost 4-0 to FC Utrecht in their Dutch Eredivisie opening weekend. As expected, Okoye started in goal but against his hope of celebrating his new deal with a clean slate, he was forced to pick the ball from his own net four times. The rout started as early as the second minute of play. The scoreline stayed like that until six minutes after the hour mark when Utrecht went on rampage, scoring two goals in 10 minutes before adding the fourth in the added time. Last season, Okoye was in contention for the goalkeeper of the year and even upstaged Francis Uzoho who was just returning from a long lay off due to injury.

Awoniyi

Simon

Onyeka

Musa

Okoye’s record of 10 clean sheets made Ajax to show interest in the Nigerian goalkeeper.

Berlin.” The 24-year-old, who spent last season on loan at Hertha Berlin joined the club on a permanent deal from Premier League side Liverpool this summer.

table after two league games played.

the scorers sheet in the 10th minute when he slotted home after his initial shot was blocked.

Taiwo Awoniyi Excited by Goal in Hertha Berlin First Draw Former Nigerian Under-17 World Cup winner, Taiwo Awoniyi scored in Hertha Berlin’s Bundesliga opening weekend 1-1 draw with Bayer Leverkusen. Awoniyi put the hosts ahead in the seventh minute on Saturday before Leverkusen’s Moussa Diaby equalised five minutes later to share points. Max Kruse fed Awoniyi, who drove goal wards and smashed an unstoppable 18-yard strike over the despairing dive of Lukas Hradecky. “For me, I think it is what I have waited for, for many years,” Awoniyi told Bundesliga’s official website. “I am really happy I can achieve it this year and I am back again in

Moses Simon’s Assists Fire Nantes toVictory Moses Simon provided both assists as Nantes beat Metz 2-0, to claim their first win of the new French Ligue 1 season on Sunday. Simon has now taken his assists for the new campaign to three. The Nigerian star winger set up Randal Kolo Muani for the opening goal 12 minutes into the game. And just four minutes into the second half Simon laid the ball for Ludovic Blas to make it 2-0. Last season, Simon scored six goals in 33 league appearances for Nantes. The win moves Nantes to fifth position on four points in the league

Frank Onyeka’s Shines in Brentford Debut Super Eagles forward, Emmanuel Bonaventure Dennis on Saturday became the fourth Nigerian player to score on his debut in the English Premier League. Dennis joined the exclusive list of the likes of John Utaka, Osaze Peter Odemwingie and Odion Ighalo as Nigerian players who scored on their first outing in the English Premier League. The 23-year-old former Belgian Club Brugge striker opened his Premier League account, scoring Watford’s first goal of the new 2021/22 season in the 3-2 defeat of Aston Villa. Dennis who was in good company, having his Super Eagles team mates, William Troost-Ekong and Oghenekaro Etebo in the Hornets starting line up at the Vicarage Road clash, got on

Ahmed Musa Scores in Debut for Turkish Karagumruk Super Eagles Captain, Ahmed Musa, was also on the scorer’s sheet as he scored in his Turkish Super Lig club Fatih Karagumruk’s 3-2 win against Gazientep at the Ataturk Olympic Stadium on Saturday. Musa, 28, netted Fatih Karagumruk’s third goal and took to Twitter to celebrate his goal on his maiden appearance for the Turkish Super Lig club. The Nigeria captain started the game and featured for all 90 minutes. “A good start, we keep going mates,” he wrote on his Twitter handle. The versatile winger linked up with the modest side last month penning a two-year deal with the option of an additional year.

MONDAY, ͹;˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Legendary German Footballer, Gerd Muller, Passes on

Gerd Muller...one of the legends of the Beautiful Game passed on...yesterday

Scorer of West Germany’s winning goal against Holland in the 1974 FIFA World Cup final, Gerd Müller has died aged 75 years on Sunday. Born Gerhard Müller in Nördlingen, he was a legendary striker who scored 68 goals in 62 appearances for West Germany. He also helped West Germany win the 1972 Euros title and was also Bayern Munich’s all-time record goalscorer with 563 goals in 605 Bundesliga appearances. Müller began his career at TSV Nördlingen, scoring well over a goal a game in Germany’s lower divisions before joining Bayern in 1964, when the club was in the second tier. Thirty-three league goals in his first season helped restore the club to the Bundesliga, and within four years Bayern were German champions, a title they won four times in five years. More impressive still was their stretch of three European Cup wins in a row, from 1974-76, to which Müller contributed 18 goals including three in two finals. In his 15 years at Bayern, Muller was the Bundesliga’s top scorer seven times, the German football of the year twice and the recipient of the Ballon d’Or once, in 1970. He left in 1979 to follow the likes of Pelé and George Best to the North American Soccer League, where he played three seasons for Fort Lauderdale Strikers, before returning to Bayern as a coach. He remains the Bundesliga’s all-time top scorer. Müller’s feats on the international stage were no less impressive. After making his debut in 1966, he quickly racked up goals at a rate of over one a game, including 10 at the 1970 World Cup

E gbe Say s He ’s Co n st ru ct i n g Sustainable Football Pitches for Lagos Chief Executive Officer of Monimichelle Group, Ebi Egbe, has declared that he is constructing at the Onikan and Agege stadiums playing pitches that would outlive the Aisha Buhari International Invitational Tournament billed for next month. Egbe said what his outfit is constructing are pitches that would remain solid even in the next two decades. “What we are constructing are world-class hybrid synthetic pitches with 100 per cent foot stability, very similar to 100 per cent properly installed natural grass pitch and perfect ball movement with zero undulation and no overheating,” observed Egbe yesterday. He noted that what Nigeria needs are not tournament pitches that would go bad after being used for the particular tournament for which it was constructed. “I am a Nigerian and I know what the country needs for our football to grow. I am in this industry to first of all raise

AISHA BUHARI CUP the bar when it comes to our infrastructure. The job I am doing right now is one which Lagos would enjoy even in the next 20 years once the pitches are properly maintained and with the right traffic on it.

“Lagos has hosted several tournaments in the past and we always start talking about a good playing turf when the opportunity to host another tournament presents itself. That is going to end with what we are doing at Agege and Onikan,” Egbe pledged.

The Bayelsa State-born sports facilities expert thanked Gov Babajide Sanwo-Olu for giving him the opportunity to give Monimichelle touch to the sports facilities in Lagos, even as he added that he is going to give the state the very best as the Centre of Excellence.

and eight hat-tricks. His last appearance for Germany was the 1974 World Cup final, held at Bayern’s Olympiastadion, where he scored the winning goal in a 2-1 win to make his country world champions. His record of 68 international goals for Germany stood for four decades, until Miroslav Klose surpassed it in 2014 (though Klose took 132 games to Müller’s 62). The former footballer was diagnosed with Alzheimer’s disease in 2015 when he was a coach of Bayern’s second team. Earlier, he suffered from alcoholism when his playing days ended in 1982. In tribute to Müller on Sunday moment after the announcement of his demise, Bayern Munich President, Herbert Hainer, said in statement: “Today is a sad, dark day for FC Bayern and all its fans. Gerd Müller was the greatest striker there’s ever been, and a fine person and character of world football. We’re all united in deep mourning with his wife Uschi as well as his family. FC Bayern wouldn’t be the club we all love today without Gerd Müller. His name and memory will live on forever.” Similarly, Bayern CEO, Oliver Kahn also paid tribute: “The news of Gerd Müller’s death deeply saddens us

all. He’s one of the greatest legends in the history of FC Bayern, his achievements are unrivalled to this day and will forever be a part of the great history of FC Bayern and all of German football. “As a player and a person, Gerd Müller stands for FC Bayern and its development into one of the biggest clubs in the world like no other. Gerd will forever be in our hearts.” In his his book, Brilliant Orange: The Neurotic Genius of Dutch Football, author David Winner described Müller thus: “Müller was short, squat, awkward-looking and not notably fast; he never fitted the conventional idea of a great footballer, but he had lethal acceleration over short distances, a remarkable aerial game, and uncanny goalscoring instincts. “His short legs gave him a strangely low center of gravity, so he could turn quickly and with perfect balance in spaces and at speeds that would cause other players to fall over. He also had a knack of scoring in unlikely situations." Similarly, teammate Franz Beckenbauer emphasized Müller's unusual speed: "His pace was incredible. In training I have played against him and I never had a chance.” Müller is survived by a daughter.

HiFL: Durotoye Excited with MoTM Award as Unilorin Hit Q’final Suleiman Durotoye’s scintillating performance helped Unilorin Warriors defeat Kogi State University Steelers (KSU Steelers) 1-0 in the Higher Institutions Football League (HiFL) Round of 16, second leg victory recently. The display earned him the ‘Man of the Match’ award as some of his teammates trooped out, carried and threw him up many times in celebration of his feat. Speaking after receiving the award, Durotoye expressed his excitement with his performance. "I am elated to be voted MoTM, this will spur me to do more for this team, I want to help Unilorin Warriors win the league this time. "We are into the quarter-final, we must stay as a unit to go far or even win the competition this time" "I want to pursue my football career after my education and I

am hoping to play at the global stage soon," Durotoye said. The match decided at the University of Ilorin was heading for a draw before Michael Ifeoluwa broke the deadlock for the homers in the 73rd minute and earned the Unilorin Warriors a place in the quarter-finals. Durotoye was toast of all at the stadium as he tormented the visitors' defense with his mesmerising display and pace. He had similarly assisted Ifeoluwa with another opportunity to score against the same opponents in Kogi last month during the first leg. Ifeoluwa lashed the ball into the bottom corner with a half volley from 20 yards having been fortunate to see the ball from Durotoye fall kindly to his path. Durotoye, one of the most talented players in the HiFL, said he was delighted to have been voted the man of the match.

SportsMinisterNamesToyin Ibitoye SA Multimedia

L-R: Ace Comedian, Ayo Makun, Founder, African Children Talent Discovery Foundation (ACTDF), Engr. Noah Dallaji and former Nigerian basketball star, Olumide Oyedeji at the press conference to round up the week-long Engr. Noah Dallaji Basketball Tournament in Kano...yesterday

The Minister of Youth and Sports Development, Sunday Dare, has appointed ace sports journalist, Mr. Toyin Ibitoye, as his Special Assistant, Multimedia. He is expected to bring his wealth of experience to bear on the job. Mr. Ibitoye till date, is the Executive Producer of Sunrise Sports, a sports broadcast and marketing company based in Lagos, Nigeria. He is a very well-travelled sports broadcaster.

He was the press officer of Nigeria's senior men's football team, the Super Eagles from 2015 to 2020 and is currently a member of the Nigeria Football Federation media committee. Apart from his B.Sc from the University of Ibadan, Oyo State, he also holds a FIFA/ CIES Sports Management post-graduate diploma from the Nelson Mandela Metropolitan University (NMMU) now NMU in Port Elizabeth, South Africa.

Monday August 16, 2021

UT H

& RE A SO

Price: N250

MISSILE

Mailafia to Leaders

“We have a peculiar disease in northern Nigeria perpetrated by elites who hate Nigeria and want nothing but the worst for our country.” –– Former Deputy Governor of CBN, Dr. Obadiah Mailaﬁa, holding leaders responsible for the problems in the North.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

ThatOurVotesMayCount “A vote is like a rifle: its usefulness depends upon the character of the user.” –Theodore Roosevelt

PRESIDENTIAL ELECTION RESULTS (1999-2019) Election No Registered No of Votes Turnout Year Voters Cast (%)

“In a society governed passively by free markets and free elections, organised greed always defeats disorganised democracy.” –Matt Taibbi, Author and Philosopher

here are various forms of government. Some of the more well-known ones are Absolute Monarchy (as in Brunei and Saudi Arabia), Constitutional Monarchy (as in the UK and Japan), Theocracy (as in Iran and soon the Taliban-led Afghanistan), and Military Dictatorship (as in Myanmar and North Korea). There is also Democracy, which is popularly defined as government of the people, for the people by the people. In each of these situations, legitimacy comes, either from the force of coercion or the will of the people. In the final analysis, however, the only form of government that survives and flourishes is that which flows from the mandate of the people. Any society where leadership is installed by means other than holding the mandate of the people is on its way to perdition. In a democracy, legitimacy is conferred through the electoral process and it is the candidate that garners the highest number of votes in the election that wins. It is clear that many parts of the world have got their electoral process right and can say with a very high degree of certainty that the outcome of their elections represents the wishes of majority of the people. Many hitherto authoritarian countries now see election as a way of life. Russia is a striking example. A few decades ago, the Soviet bloc had countries where Democracy was considered an anathema. Today, the case is different. Latin America is fast turning into a sea of democratically elected governments even though there are still signs of dictatorship among some of the countries there. Even China is adopting revised forms of democracy that suit her cultural and political antecedents. They have also shown that regardless of what they choose, it has served them well on the economic front as it has helped to take millions of Chinese out of poverty. Unfortunately, that cannot be said of most parts of Africa. Sadly, Nigeria is a country that has consistently failed the test of credible and transparent elections. From the 1960s when the country’s elections were marred by rigging, manipulation and violence, through the 80s and 90s up to this moment, the country has witnessed one tainted election after another. With the return to civilian rule in 1999, the electoral process seemed to get worse with every successive election season. It must be noted, however, that in 2006, the then Chairman of Independent National Election Committee (INEC), Prof. Maurice Iwu, had proposed electronic voting for the 2007 general election. Politicians at that time screamed blue murder at the suggestion, arguing that the literacy level of the Nigerian electorate was too low for the adoption of technology. They also insisted that the time between 2006 and 2007 was too short for its implementation. That marked the end of that brilliant idea, which probably came ahead of its time. Ironically, biometric technology was deployed to establish massive election rigging in Ekiti and Osun States in the same 2007, leading to the upturning of those elections by the Judiciary. It was not until the run up to the 2015 general elections that significant changes were made by the Prof. Attahiru Jega-led INEC. The electoral body introduced the Permanent Voters Cards (PVCs) and Smart Card Readers (SCRs). The idea was to introduce technology into the hitherto manual electoral process. The devices replaced the manual voter’s card and voters register. The details of the voters including biometric data, card holder’s fingerprint and pictures were embedded in

INEC Chairman, Professor Mahmood Yakubu electronic chips in the PVC. The PVC and SCR are mainly designed for accreditation, enabling electronic verification of voters and voters’ cards. This immediately streamlined the voters register and eliminated multiple registration and fraudulent representation of voters. This development catapulted the nation into the league of over 25 African countries that were already using biometric and other technologically driven systems at the polls. The introduction of PVCs and SCRs in Nigeria did not go without its fair share of challenges, just like any other technology. The required acquisition of skills for operators was a major issue then and remains till today. The devices were said to have shorter than required battery lives. The card readers were reported to have malfunctioned in several areas leading to provision of back ups or postponement of elections in certain places or resorting to manual accreditation and the use of incident forms in others. The biometric technology, being very sensitive, failed to recognise some genuine voters in some places even though they had genuine PVCs, again defaulting to manual accreditation. The availability of communication networks, or lack thereof, in some locations, particularly in some rural areas was and remains a major threat to the use of this technology. INEC responded to some of these challenges, introducing SCRs that had longer battery life, training its staff on the use of the SCRs, making available back up SCRs, and ensuring that the SCRs were able to search and use available networks in the location and programming the SCR to retain information fed to it even in remote locations and download same to the server once network was detected. In the 2019 election, the performance of INEC was expected to improve, given the experience it had garnered in 2015. However, this was not to be as INEC encountered another major challenge, namely the legal foundation of the SCR. In 2015, after the pioneering effort to improve the electoral process, the judiciary, in what has been described as excessive reliance on technicality rather than the spirit and intention of the law, held that the card reader was not recognised by the electoral act and that the only way to prove over-voting was with the manual voters’ register. This singular action of the judiciary emboldened election riggers and literally set the hand of the clock backwards, as politicians who fraudulently wrote results, snatched ballot boxes and stuffed them, took over collation centres violently and forced INEC officials to declare them winners, had their results upheld by the courts of the land. Attempts made to amend the electoral act did not succeed until the 2019 election. Given the position of the law, politicians who had control of the instrumentality of violence and compromised INEC personnel simply wrote results and had themselves declared winners in the 2019 election. Despite all these, it must be noted that during the

1999

58m

30.2m

52.26

2003

61m

42m

2007

62m

35.4m

57.5

2011

73m

39.5m

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67m

29.4m

43.65

2019

82m

28.6m

34.75

off-season elections in Ondo State last year, INEC was able to successfully upload the polling unit level results, real time and largely online, to its portal for public viewing. It was also the same case with the Edo election of 2020. According to Prof. Mahmoud Yakubu, the current INEC Chairman, the Commission is committed to expediting the process leading to the deployment of electronic voting machines in the November 6, 2021, Governorship elections in Anambra State. With the recent travails of the electoral act amendment bill at the National Assembly, it remains to be seen if the electoral umpire would continue with its lofty plans. The Electoral Act Amendment Bill 2021 was presented to the National Assembly for consideration recently. This amendment has been coming up at the National Assembly since 2014. Sometimes, the National Assembly would not pass it for assent of the President and sometimes, the President would withhold assent citing different reasons. This time around, the Senate tweaked a section of the Bill. Clause 52(3) of the bill provides that INEC adopts electronic voting and transmission of results where practicable. After debates, Senate amended the clause to include that the National Communications Commission (NCC) would have to confirm availability of communication network to conduct electronic election processes with approval from the National Assembly before INEC could adopt same. The action of the National Assembly seems to have generated a lot of debate amongst the populace with many groups engaging their National Assembly members, questioning their true intention. Some have faulted the amendment of the bill arguing that the National Assembly has wittingly or unwittingly subjected an otherwise independent body to the whims of the executive, NCC being part of the executive, and that asking that the legislature approves a process which should be seamless is unnecessary. Matters have not been helped by the seeming political colouration of the debate and votes as members of the ruling party voted for the amendment of the bill while members of the opposition voted against it. It would not be out of place to point out here that the opposition which was the ruling party in 2014 had the opportunity to pass this bill then, but filibustered it, not knowing that a day like this would come when it would be in opposition. Be that as it may, this column is of the strong opinion that politicians should learn to do things right and pass bills that would be in the best interest of the country irrespective of political affiliation. As we have learnt from this bill, you could be in power today and tomorrow, you would be in Opposition. Like it is said, the only permanent thing in life is change. There are two issues involved in this bill. One is the electronic transmission of results which has dominated most debates. The bigger issue which seems to attract less attention is electronic voting. Separating these two issues would help in forming opinion and testing our preparedness for the process. Electronic Voting involves the deployment of Direct Recording Electronic Voting Machines, which are commonly used in developed countries, or other

machines made locally or imported. The machine simplifies the entire voting process from accreditation, through actual voting, sorting, counting, tabulation to compilation of results. Besides seamless election process, it has the added advantage of reducing the cost of elections to the barest minimum. For instance, the cost of printing ballot papers, election result sheets for polling units, wards local governments and states would be saved. We note that the cost of acquisition of the machines and backups for the close to 180,000 polling units in the country would be high. However, because these machines could be used over many election seasons, the seemingly high cost would pale into insignificance, compared to what is spent now. Besides, other heavy costs like transportation of materials, security and other logistics costs would be minimised if not eliminated. The most important argument in favour of electronic voting is that it brings greater credibility and transparency to the electoral process. Votes will begin to count, confidence, which had hitherto disappeared from the electoral process, would eventually return and more voter turnout will be recorded. We consider this very important because from the table below, Nigeria has progressively witnessed very low voter turnout, in spite of growth in population and the number of registered voters. A few things are discernible from the table. The first is that outside 2003 which was obviously an outlier, the country had been witnessing low voter turnout. Again, with technology in 2015, the number of votes cast dropped by a whopping 10m, and voter turnout dropped to about 35% in 2019. This shows the level of voter apathy in the country. In the last Presidential election in the USA, about 67% of registered voters came out to vote. The average voter turn out in the UK is 70% and Ghana recorded a massive voter turnout of almost 80% in the December 2020 election. Studies have shown a positive correlation between credible elections and voter turnout. The more the electorate have faith in the electoral process, the more they will come out to vote and vice versa. This analysis will be incomplete if we do not acknowledge some of the challenges of electronic voting. Irregular power supply is one, but could be mitigated by providing alternative energy backups; communication network; technical know how; possibility of compromise by staff of the electoral commission and staff of the vendor/Supplier who could manipulate the back-end application; hacking or interception of the system; and faulty or malfunctioning machines. The good news is that if banks and other financial services companies are able to deploy technology and automate their processes including the use of the automated teller machines to dispense cash running into billions of Naira, then INEC should be able to automate the electoral process and mitigate all the identified risks. It is imperative that the Bill be divided into two parts. The first is the use of PVCs and SCRs for accreditation of voters while the other is the transmission of results from the polling units to the servers, to eliminate manual collation of results. INEC had said that it is already implementing the latter and has the capability to do it nationwide. We should believe them, more so as it has already been demonstrated in some states. Giving approval to this should not be a problem. The second part should be the electronic voting system, which I quite frankly, don’t think we can implement in 2023. However, anybody who stands for credible elections should support INEC to begin the process and if ready could be test-run in 2023 and fully rolled out in 2027. We should never refer INEC to get a certification from its vendor to implement an initiative it has proposed. We should also be mindful to protect that ‘I’ in INEC, if not in practice, at the minimum, in theory. Finally, we must ensure that our votes count. Anything short of that is a call for brigandage and descent to anarchy.

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