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2023
Chuks Okocha, Emameh Gabriel in Abuja, Segun James in Lagos and Blessing Ibunge in Port Harcourt Presidential candidate of Peoples Democratic Party (PDP), Atiku Abubakar, has said the idea of manual collation of election results by the Independent National Electoral Commission (INEC) is a ploy to lay the groundwork for rigging next year’s general election. Atiku, who spoke through one of his spokesmen, Daniel Bwala, yesterday, was reacting to a statement credited to the National Commissioner of INEC in charge of Information and Chairman, Voter Education, Festus Okoye, that the 2023 general election results would be transmitted manually. The former vice president insisted that there must be strict adherence to the new electoral law, which supports a good use on Says there must be strict adherence to electoral lawCommission clarifies position, insists electronic transmission of results stays Okowa, Ibori, Omo-Agege, Others Eulogise Olu of Warri on His First Coronation
Sector SERAP Tells Buhari to Withdraw Threat to Shutdown 53 TV, Radio Stations...Page 10 Audit Query: House Probes NIPC over N1bn Extra Budgetary Expenditure...Page 6 Monday 22 August, 2022 Vol 27. No 9995. Price: N250
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The Vice President, Prof. Yemi Osinbajo has assured Nigerians that the inauguration of a board for the Nigeria Electricity Liability Management Company (NELMCO) would enhance ongoing efforts to resolve liabilities relating to tariff shortfalls for distribution companies, among other challenges plaguing the nation's power sector. The company has been running without a duly constituted board since the first one was inaugurated in 2013 and dissolved shortly after. Speaking at the weekend, at the virtual inauguration of a new 10-man board for NELMCO in Abuja, Osinbajo stressed that the inauguration marked an important milestone in the bid to resolve the liabilities relating to tariff shortfalls in the power sector (specifically for Distribution Companies), and to provide a veritable mechanism for managing the very dynamic nature of the liquidity challenges of the power sector in Nigeria. According to him, “this ceremony formally brings on board the invaluable skills and experience of notable and highly respected personalities as members of the Board of NELMCO.”
$418m:
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On what was expected from the new board, the vice president told members that, “as a board, you are expected to make conscious and deliberate efforts to develop FG Ready to Resolve Tariff Shortfalls in Power
Chuks Okocha in Abuja
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Osinbajo:
Tells electricity board to protect interests of ordinary citizens BPE says four Discos successfully taken over
The Nigeria Governors Forum (NGF) has described as half-truth a claim by the lead consultant in the recovery of over-deductions from Paris Club and London Club debts buyback funds, Ned Nwoko, that his firm was owed $68 million and not $418 million, as alleged by the governors. Nwoko stated this in response to controversy that trailed his company’s demand for fees from the states and local governments in the country in Abuja on Saturday.
Anniversary...Page 57
Atiku:
The lead consultant at Linas International had frowned on recent comments by the chairman of NGF, and governor of Ekiti State, Your Statement is Half-truth, Govs Tackle Ned Nwoko on page 5 it’s an attempt to blur, obscure real facts Dr. Kayode Fayemi, regarding the Paris Club refund. INEC Laying Foundation for Rigging Polls With Manual Collation of Results
Deji Elumoye in Abuja
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Buhari Extols Ex-Foreign Affairs Minister, Ogwu at 76
Minister of Justice and Attorney General of the Federation, Abubakar Malami, had featured in the weekly briefings coordinated by the Presidential Media Team, on August 11, where he spoke extensively on issues surrounding the refund. Malami stated that there was no basis for agitation by the NGF concerning deductions from the Paris Club refund paid to the consultants they hired. Malami also described the governors’ action as akin to crying over spilled milk. However, the governors, after their deliberations last Wednesday, accused the minister of orchestrating deductions from their funds to settle consultancy fees. In their reaction yesterday to the outcome of a press conference by Nwoko, Director, Media and Public Affairs, at the NGF secretariat, Abdulrazaque Bello-Barkindo, said the governors were not surprised by the attempts by Nwoko to white-wash lies and make them look as Bello-Barkindotruth. said, "Not surprisingly, the desperate, spurious and futile advocacy mounted and coordinated by the Attorney General of the Federation (AGF) on behalf of the so-called Paris Club Consultants to justify the plundering of the humongous sum of $418.9 million from the public treasury of the states and local governments continued on Saturday 20th August 2022, when Ned Nwoko, in a press statement, attempted to blur and obfuscate the real facts and legal issues in controversy by dishing out blatant lies and Accordinghalf-truths."tothe governors, "The facts are and will always remain: whether the claims of the consultants are lawful and justified under our constitution and whether any judgement, which is a subject of a pending appeal, can be enforced or executed as the consultants now attempt to do? "If both questions are answered in the negative, it does not matter if the contracts leading to the claims were entered into by any public official, past or present. No person or persons can agree to blatantly circumvent our constitution and get away with it. Neither is the period when judgements were obtained of consequence in this case. "Undoubtedly, the salient facts on the fraud associated with the Paris Club refunds can never be changed by a thousand press statements by the AGF or any of the consultants. As the judgements of the appellate courts, particularly, that of the Supreme Court, have begun to expose the creepiness and unlawful nature of the consultants claims; it is not surprising that they are now afflicted by dizzy spells, seriously discomforted and are now driven by desperation to ensure that the plundering and fleecing of the state is quickly completed before the determination of the pending proceedings in the appellate and other courts in order to foist a situation of frustration and helplessness on the states.”
Deji Elumoye in Abuja President Muhammadu Buhari, has congratulated former Foreign Affairs Minister, Prof Joy Uche Ogwu, as she marks her 76th birthday anniversary today, August 22, 2022. Also, the president rejoiced with a former Vice Chancellor of Obafemi Awolowo University, Prof. Wale Omole, on his 80th birthday.Inarelease, yesterday, by his Media Adviser, Femi Adesina, Buhari shared the joyous occasion with Prof Ogwu and her family while hailing the Permanent Representative of Nigeria to the United Nations, from 2008 to 2017, for years of meritorious service in the diplomatic community and theTheacademia.president joined friends and professional colleagues of the former diplomat in celebrating the birthday, affirming that Ogwu’s experience and knowledge contributed generously in shaping the country’s foreign policies, particularly, the economic diplomacy that she championed.
and procedure of voting in an election and the transmission of election“Sectionsresults.60 and 62 of the Electoral Act govern post-election procedure and collation of election results. Section 60(1) of the Act provides that the presiding officer shall, after counting the votes at a polling unit, enter the votes scored by each candidate in a form to be prescribed by the commission. “Section 60(5) of the Act makes it mandatory that the presiding officer shall transfer the results, including total number of accredited voters and the results of the ballot in a manner prescribed by the commission. Thereafter, the presiding officer shall, after recording and announcing the results, deliver the same along with election materials under security and accompanied by the candidates or their polling agents, where available, to such person as may be prescribed by the“Thecommission.implication of this is that the collation process of results is still essentially manual, but the collation officer must collate subject to his verification and confirmation that the number of accredited voters stated on the collated result are correct and consistent with the number of accredited voters recorded and transmitted directly from polling units.” The commissioner explained that, while the collation of results would be done “essentially” manually, where there was a dispute regarding a collated result or the result from any polling unit, the collation or returning officer would use the original of the disputed collated result, accreditation data from the BVAS device, and the results transmitted directly from the polling unit to determine the correctness of the result. But reacting through Bwala, Atiku alleged that with such a statement, "INEC is laying the foundation for the rigging of the 2023Heelections."saidSection 60 of the new Electoral Act was clear, adding, "At the close of voting at the polling unit, the voting results will be uploaded, meaning that by the time the officer from the unit goes to the ward, he cannot present a result different from the one that was uploaded, which every voter can have access to it. "And the same thing applies to the local government and the state, because there is evidence you have sent it to a server where it cannot be manipulated. By what Okoye said, it means they are creating the room and possibility for somebody to manipulate the result without prejudice to the counting and the result as announced at the unit. "And where there is a conflict, that reliance will be placed on the manual collation. In other words, they are trying to go around the provisions of the Electoral Act to take us back to where we are coming from. Sadly, they are trying to find a solution, where there is no problem, because this same electronic upload and transmission has been done in Anambra, Ekiti, in Edo and Osun and they were successful. That procedure has not been challenged. "If you go to court, all the challenge in court were around certificates of individual and whether that individual is qualified or not. But that procedure has worked. So why are you trying to fix something that is not broken? It means something is fishy; we smell a coffee. And that's why we're calling all well-meaning Nigerians and lovers of democracy in Nigeria and beyond to raise their voice and speak with one voice." Atiku's image-maker added, "There must be strict compliance with the provisions of the Electoral Act with respect to electronic upload and transmission of result, without prejudice to what INEC is thinking about"Webringing.mustnever try to change the procedure that has worked in these states mentioned. It must be free, it must be transparent. We don't want litigation. We want the voice and the will of the people to prevail in Nigeria."
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The statement added, "This is obvious as the consultants are not in a position to restore the funds to the states if they lose on appeal, as it is becoming apparent. It is, therefore, needless joining issues with Ned Nwoko or, indeed, any of the consultants. However, it is imperative to debunk patent lies dished out in order to disabuse the minds of the undiscerning public." The governors also argued, “While Nwoko strenuously tried to single out and justify his own bogus claim of $68 million saying the total amount, which all the consultants working in concert, collectively seek and claim from the states and local governments, albeit unlawfully is $418,953,690.59.” The governors gave a breakdown of the $418 million as follows: Ned Munir Nwoko ($68,658,192.83); Dr. Ted Isighohi Edwards ($159,000,000); Panic Alert Security Systems Limited ($47,831,920); Riok Nigeria Limited ($142,028,941.95); Prince Orji Orizu ($1,219,440.45), Barrister Olaitan Bello Additionally,($215,195.36)thegovernors stated that it was instructive to note that all the claims by the consultants were rooted in suit No FHC/ ABJ/CS/130/13 between: Linas International Ltd & 35 ORS and Federal Government of Nigeria & 3 ORS in which Nwoko instituted and was awarded a bogus 20 per cent of the sum of $3,188,078,505.96 from the states and local governments Paris Club refunds. The governors said the judgement had been challenged on appeal by the states and NGF in Suit No presscomingmillionoutaddressmaystatescoordinationtogetherandromancealliances,remedied.timesseparatelypartItsisisfallrefundsrecoverstatesorclaimcleverclaimsmillionseparatebyInternationalOfCV/327M1/2022:CA/ABJ/PRE/ROEA/AttorneyGeneralAbiaState&35OrsVsLinasLtd&239Ors.ThegovernorssaidthecommentNwoko“wasthereforetohisownclaimof$68asifitisnotrelatedtotheofotherconsultantsisbeingbyhalf.Alltheconsultantstohaverenderedthesamesimilarserviceofhelpingtheandlocalgovernmentstoover-deductedParisClubbythefederalgovernment."Theircases,therefore,riseortogether.Apoisonofthepartapoisonofthewhole.Whatunlawfulremainsunlawful.originisimmaterialandtheorroleplayedbyallpartiesorcollectivelyatallisunlawfulandcannotbe"AsitiscommonwithallunholyitdoesappearthatthebetweentheconsultantstheirdeterminationtofightundertheAGF’stacittopulloutofthethesumof$418,953,690.59havesufferedacrack."ThismusthaveledNwokotothepressaloneandsinglehisunmeritedclaimof$68asjustifiable.ThisisalsojustontheheelofasimilarbriefingbytheAGF,afew of technology in elections. He said such adherence to the law was necessary, as it worked in other states where off-season governorship elections took place recently.ButINEC also reacted, saying its explanation on result management procedure is being misinterpreted to mean the commission has jettisoned the electronic transmission of result and reverted to the manual process. It said that position was not correct. Okoye had said recently, "There is a marked difference between the transfer/transmission of results and the collation of results. Section 50(2) of the Electoral Act, 2022, gives the commission the absolute discretion to determine the mode days ago during which he stoutly defended all the consultants and berated the states for opposing or delaying the prompt payment of the sum claimed." They pointed out that what Nwoko did not tell members of the public was that, "If all the local governments engaged him directly as claimed and if he acted for the states through his lawyers and the NGF requested that he extends the services to all the states as also claimed, what different service did Ted Iseghohi-Edwards, his collaborator and conspirator (indicted by the EFCC) render for which he is being paid the whooping sum of $159,000,000 also from the Paris Club refund? "In his desperation to justify his claim, Ned Nwoko peddled untruths that his team was a member of the federal government committee constituted to reconcile figures under the Paris Club refunds to the states and local governments. That is patently false. "The report of that committee dated May, 2007 shows that only the FMF, OAGF, CBN, DMO and RMFC (secretariat) were members. Private persons, who were not privy could not have been included in a committee that was meant to examine purely public financial records. It was this committee that did all the work now claimed by Ned Nwoko and the other consultants."Whileit is possible that the unlawful scheme hatched by the consultants to feast on public funds may have over the years been executed with the cooperation of enemies of the state without anyone raising an eye brow, the bubble has now burst and the time to account has come. It is an irony that “Ned Nwoko and other consultants, who flaunt judgements of courts as justification for payment are now uncomfortable and jittery, when the same judgements are tested on appeal. Let him reserve all his vituperations against the NGF chairman and canvass them on appeal as the law may permit him. “No professional advocacy or media campaign to hoodwink the public can change the law. We are not unmindful of the ridiculous claim by one of consultants that it was his media campaign that swayed a Federal High Court Judgment in favour of the NGF. “Interestingly, the public which is the greatest victim in the mismanagement of scare public resources, has since been well-informed and is on red alert to avert and stop what is apparently an attempt by some ravenous rent seekers masquerading as consultants to further exacerbate the economic woes of citizens under the prevailing dire economic situation."Theuse of libellous language on the person of the Chairman of NGF, who has refused to be compromised and has firmly stood his ground on the unconstitutional and unlawful nature of the consultants’ claims, is not helpful to their case either. "The NGF is an apolitical organisation that operates under defined principles targeted at good governance. Its role in the whole of this Paris Club refund debacle to consultants is to ensure that Nigeria citizens are not unlawfully deprived of resources meant for their development. NGF will not, therefore, waste its valuable time to defend unsubstantiated allegations against individuals or persons who are in a position to defend themselves. “If Ned Nwoko is sure of his facts, he is at liberty to approach the necessary authorities to bring to justice any person or persons and all conspirators (including himself) who were allegedly involved in misappropriating public resources for campaign financing.
He rejoiced with the scholar for her many achievements, starting from lecture halls, which included working at National War College, National Institute of Policy and Strategic Studies and serving as the Director General of Nigeria Institute for International Affairs. Buhari acknowledged the former President of the United Nation's cerebral support and advice to the multilateral institution and governments on issues of security across the globe, especially, on disarmament, serving as Chair of the Board of Trustees of the United Nations Institute for Disarmament. He prayed for good health and strength for the celebrant. Rejoicing with Omole, Buhari, in another release by Adesina, acknowledged the ex-VC’s historic roles in providing visionary leadership for the university and improving Nigeria’s educational system.Thepresident believed Omole’s return to Nigeria, after years of extensive studies and research, culminating in a doctoral degree in Nutritional Biochemistry in 1973, demonstrated his love for the country and citizens, appreciating the academic for years of personal sacrifices, tenacity and courage as Vice Chancellor. He noted the worthy contributions of the scholar to national discourse, especially in his position as Chairman of the Editorial Board of The Guardian newspapers for many years, providing a worthy perspective based on exposure, network and relevance in the dynamic global world.Buhari further extolled Omole for his diligence and consistency in advocating stronger educational institutions in the country, with flexibility to meet the needs of students, while adjusting to global changes, leaving a legacy at the Obafemi Awolowo University, where he started work as Assistant lecturer, and rose to lecturer and Professor of Animal Science in the early 80s. He, therefore, joined family, friends and professional associates in celebrating with Omole, praying that the Almighty God would grant him longer life and good health.
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INEC, in a statement by Okoye, said, "Some have interpreted the explanation on result management procedure to mean that the FOR RIGGING 2023 POLLS WITH MANUAL COLLATION OF RESULTS
members to diligently carry out the responsibilities assigned to the board in accordance with the provisions of the Memorandum and Articles of Association (MEMART) of the Company.Someof the provisions of the MEMART of the company include: To assume and administer the stranded debts of the defunct Power Holding Company of Nigeria (PHCN) Plc pursuant to the provisions of Electric Power Sector Reform Act 2005. To manage post-privatisation liabilities in the power sector as may be directed by the National Council on Privatisation or any authorised agency of the federal government from time to time in line with the power sector reform actResponding2005. on behalf of the members, the Board Chairperson and Minister of Finance, Budget and National Planning, Zainab Ahmed, assured the vice president of the board’s preparedness to ensure quick resolution of tariff shortfalls and related issues in the power sector in the most efficient manner. Other members of the board include the Minister of Power, Abubakar Aliyu; Director General of Bureau for Public Enterprises (BPE), Mr. Alex Okoh; Director General of Debt Management Office (DMO), Ms. Patience Oniha; Managing Director of NELMCO, Mr. Bayo Fagbemi and Mr. Muhammad Aliyu Jumma’a. It also included Mr. Olufunso Olutola Olukoga; Dr. Chinedum Orisakwe; Mojoyinoluwa DekaluThomas and Dr Nurain Hassan Ibrahim.Inarelated development, the BPE Director General, Mr. Alex Okoh, has said the take-over of four electricity Distribution Companies (DISCOs) namely that of Kaduna, Kano, Ibadan and Port Harcourt has been concluded successfully. Okoh, who disclosed this in a presentation made at a virtual meeting of the National Council on Privatisation (NCP), added that the challenge in the takeover of the Benin Disco was being addressed. The NCP is chaired by the vice president who was represented at the meeting by Ahmed, who also doubles as the Vice Chairperson of the Council. In his report to the Council, the BPE DG also made a presentation on the concession of the Zungeru Hydroelectric Power Plant, inviting NCP to note steps taken by the Bureau to fast track the process. Okoh thereafter presented for approval a proposal to amend the Procedures Manual of the BPE, especially in the areas of legal framework; reform activities; pre-transaction activities; project advisory and delivery team; receipt of technical and financial transaction strategies, and opening and evaluation of technical proposals, among others.
Rejoices with former OAU VC, Omole, who turns 80
OSINBAJO: FG READY TO RESOLVE TARIFF SHORTFALLS IN POWER SECTOR appropriate strategies to facilitate the successful conclusion of the outstanding pre-privatisation issues of the defunct PHCN, and ensure an effective implementation of NELMCO’s additional mandate to resolve the tariff shortfall problems of the Electricity Distribution Companies.“Inview of the challenges ahead, you are expected to draw extensively on our experience over the years, to continue to give credence to the Federal Government of Nigeria’s economic development programme in a transparent, sustainable, credible and acceptable manner. “The Board is required to take appropriate steps to also ensure that the interests of the various segments of our society, particularly the ordinary citizens, are protected in the implementation of NELMCO’s mandate,Commentingmandate."ontheboard’sOsinbajocharged
$418M: YOUR STATEMENT IS HALF-TRUTH, GOVS TACKLE NED NWOKO
Audit Query: House Probes NIPC over N1bn Extra Budgetary Expenditure
FIRS Certifies Donations to Ex-Minister's Charity as Tax Deductible Udora Orizu in Abuja
6 THISDAY • MONDAY, AUGUST 22, 2022 NEWS Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580
L-R: Deputy Senate President & Delta APC governorship candidate, Sen. Ovie Omo-Agege; Delta State Governor, Dr. Ifeanyi Okowa, greeting the Olu of Warri Kingdom, His Majesty, Ogiame Atuwatse III (R) at his first coronation anniversary service in Warri, Delta State …yesterday
The interim Chief Executive Officer of the foundation, Tomisin Akinwunmi, also expressed excitement over the funding possibilities that the charity’s new status offers. She said, “We are thrilled by this development. Our projects are making a huge difference in the lives of people and this certification will encourage us and our partners to do more. “We are thankful to the FIRS for providing us with an opportunity to raise funds at a scale that would enhance our ability to reach more Nigerians.” According to her, the “Foundation had raised over N200 million in the past year, through its thrift shops, corporate donations drives and snacks business as well as undertaken projects in Borno, Cross River, Imo, Kano, Lagos Nasarawa, Niger, Ogun, and Osun States.” She added that the foundation planned to extend its operations to all parts of the country by the end of 2023. Its current projects include orphanage building projects in Imo and Ogun states, sponsorship of orphans in universities, provision of prosthetic limbs and start-up capital for amputees, as well as regular food donations to several orphanages and IDP camps.
Stakeholders Urge Buhari, Umana to Sack NDDC Interim Boss over Alleged Tenure Elongation Plan James Emejo in Abuja
Some stakeholders in the Niger Delta region have urged President Muhammadu Buhari and the Minister of Niger Delta Affairs, Mr. Umana Umana to immediately suspend or sack the Interim Administrator of the Niger Delta Development Commission (NDDC), Mr. Effiong Akwa over allegations that he was using a third party to file frivolous lawsuits against the federal government in order to keep him in office until May 2023.Akwa, whose interim tenure had long expired, still leads the NDDC without any presidential tenure extension and the stakeholders argued that his status as an interim administrator was unknown to the NDDC establishment Act. He had on Friday, August 19, 2022, alleged to have dragged the federal government to a federal high court, in Abuja, using a third party to restrain the federal government. Owing to this, the Niger Delta Stakeholders, through their Secretary General, Chief Anthony Loveday, in a statement via electronic mail, accused Akwa of using a third party to file lawsuits and injunctions in the Federal High Court, Abuja judicial division to restrain the federal government; which they alleged was a ploy to keep him in office until 2023. The suit was filed against the President of the Federal Republic of Nigeria, the Attorney General and Minister for Justice, the Minister, Niger Delta Affairs, the Ministry of Niger Delta Affairs, and the Permanent Secretary, Ministry of Niger Delta Affairs. In the statement, Loveday said, “Mr. Akwa through his allies have filed a case, and they plan to serve all defendants including the presidency on Monday the 22nd August 2022 or latest on Tuesday the 23rd August.“They intend to use the court’s injunctions to tie-down the hands of the President and the Minister of Niger Delta to frustrate them into resolving to manage Akwa as interim administrator until May“They2023.have some high profile allies in the Ministry of Justice that will direct the ministry lawyers to stall and sabotage the cases by employing delay tactics and adjournments until May 2023. However, during this period of judicial intervention, no substantive NDDC board can be appointed and inaugurated by President Muhammadu Buhari until the courts are done with their cases, because the statusquo must be maintained.” The statement added: "This is devastating for the suffering people in the Niger Delta region. These politicians are only thinking of their personal interest and how to remain in office by any means necessary, they are not thinking about the people. In-fact, Mr. Akwa and his allies in the Ministry of Justice might file more court cases in other federal high courts to completely tie-down the hands of the Minister to enable him to remain in Office until May 2023.”
Olusegun Samuel in Yenagoa
FIRST CORONATION ANNIVERSARY SERVICE...
The Federal Inland Revenue Service (FIRS) has certified corporate organisations' donations to former Minister of Finance, Mrs. Kemi Adeosun's charity as tax deductible. Deductible for taxes implies an expense that a taxpayer or business can subtract from adjusted gross income, which reduces their income, thereby reducing the overall tax they need to pay. The FIRS consequently issued a tax-deductible donations certificate to Adeosun’s DashMe Foundation, last week in Abuja. The foundation, a Lagosbased charity with operations in Nigeria, the United States, and the United Kingdom was founded by the former minister in June 2021. The FIRS issues tax-deductible donation certificates to carefully vetted registered charities whose operations meet Nigeria’s statutory ‘public character’ requirements. Section 25(c) of the Companies Income Tax Act (CITA) permits companies that make charitable donations to charities with tax-deductible donations certificates to a ‘donation relief’. The donation relief provision aims at encouraging corporate bodies in Nigeria to channel their corporate social responsibilities (CSR) donations to carefullyvetted non-governmental bodies, associations, and institutions engaged in life-changing, socially-relevant projects. However, the foundation, in a statement made available to THISDAY yesterday said corporate organisations that donate to it would now enjoy donation relief under its new status, which is an allowance to deduct their donations from their taxable profits. Adeosun expressed delight at the FIRS's tax-deductible donations certificate to her charity.Reacting to the development, she noted that the issuance of the certificate by the country’s foremost tax body was a recognition of the charity’s strides in the past year and its commitment to changing the lives of vulnerable Nigerians. She said the foundation was recently granted a similar certificate in the United States, adding that the approval would energise the charity’s drive to obtain the same tax-exempt status in the UK. Adeosun said, “I am delighted that the FIRS has recognized DashMe Foundation as being worthy of this rare status. We believe that more corporate bodies will be incentivised to donate to us now that they know that their donations will be fully tax“Thedeductible.certificate will significantly enhance our capacity to raise more funds from the corporate sector and also enhance our ability to initiate more life-changing projects for Nigeria’s most vulnerable children, women and other disempowered groups.”
The House of Representatives Committee on Public Accounts (PAC) has commenced investigation into how the Nigeria Investment Promotion Commission (NIPC), a federal government agency under the Federal Ministry of Industry, Trade and Investment engaged in extra budgetary expenditure of N1.19 billion in the 2018 andAccording2019. to a report from the office of the Auditor General of the Federation, the NIPC had a budget of N194 million in 2018, and N180.6 million in 2019, but spent N700 million and N871 million respectively. A study of the 223-page document presented to the Committee by the Commission showed a line item suggesting that the Commission may have spent its internally generated revenue for 2019 to service its recurrent and capital budget.
The lawmakers had earlier rejected the commission's submission to the query, saying the supporting documents were neither signed nor authenticated by any authority which made the submission invalid in the eyes of the law. The Director of Finance of the Commission, Mr. Akwada James had while defending the submission said he was at loss while preparing it and that he did know how to explain the item by item in the queries as demanded by the Committee. Reacting, the lawmakers one after the other pointed out several flaws in the submission which they said looked like a forged document that would not stand the text of time before theTolaw.this end, the Committee Chairman, Hon. Wole Oke stepped down all the queries and directed its new Executive Secretary, Mrs. Saratu Umàr to go back with the submission to enable her to familiarise herself with it and come back to defend it by next week Wednesday. Oke also ordered the management of the agency to provide full explanations on why the agency would spend government money at their disposal without the approval of the National Assembly in firm of appropriation. In addition, the Committee directed the Commission to provide the National Assembly's approval for extra budgetary spending of N690 million.Oke said," Madam New Executive Secretary, in line with the principle of fair hearing we operate here, the Committee we allow you to pick a date, so that you can go and familiarise yourself with the submission and the relevant documents and come back to defend the query since you just assumed office and those on ground before you are not helping the matter."
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SERAP Tells Buhari to Withdraw Threat to Shutdown 53 TV, Radio Stations
NEWS
The Zambian government has approached Africa's richest man and President of Dangote Group, Alhaji Aliko Dangote pleading for support for the development of the country's agricultural sector through the establishment of fertiliser plant in the Ministercountry.of Commerce and Industry, Zambia, Mr. Chipoka Mulenga, made the request at the weekend, when he led the country's delegation on a tour of the three million metric tonnes per annum Dangote Fertiliser plant in Lagos, calling for a collaboration between Dangote Group and the Zambian Government on the establishment of fertiliser plant in the southern AfricanAccordincountry.gtoa statement issued yesterday by the Dangote Group, Mulenga expressed belief that any investment in fertiliser production would not only help the country to be self-sufficient in food production, but would also help to grow the Zambian economy as well as that of the neighbouring countries. Noting that the country’s fertiliser consumption had increased tremendously in the last few years and had continued to increase, the minister expressed happiness that Zambia no longer has to go outside of Africa to seek investors.Mulenga maintained that Dangote had been able to change the narratives through his investment in cement production across Africa, stating that Africans are now investing in the continent. Pointing out that Dangote had already established the biggest cement plant in Zambia, the minister noted that Dangote Cement Zambia had a remarkable portfolio and was bringing positive change to the cement industry, not only in the Southern African country but to other neigbouring countries.Hesaid the Zambian Government had created an enabling environment and introduced incentives capable of attracting local and foreign investments in all sectors of the economy.Mulenga said, “The Zambian government in the last budget made some pronouncements which focus on value addition, industrialisation, skill enhancement and development. We have a huge youthful population who are ready to work if given the opportunity to be "Ratherproductive.than continue to import fertiliser from anywhere, we want Aliko Dangote to come and establish plant in Zambia. The country’s fertiliser consumption has increased tremendously in the last few years and has continued to increase."Iamhappy that we no longer have to go outside of Africa to seek investors. Dangote has been able to change the narratives through his investment in cement production across Africa. We now have Africans investing in the Africa continent."Dangote has already established the biggest cement plant in Zambia. Dangote Cement Zambia has a remarkable portfolio and is bringing positive change to the cement industry, not only in Zambia, but also to other neigbouring countries." He described Zambia as Africa’s new investment destination because of its stable political system, stable macroeconomic environment and investment protection guarantees, adding that Zambia was strong in agriculture and even seeking to become stronger through having its own fertiliser plant. Mulenga, however, commended Dangote for investing massively in fertiliser production in Nigeria, saying, “This could only happen because the company put the right people, right leadership, right technical skills and the right management in place to have such a remarkable result.
constructed at least a road in all the 20 local government areas. “We have rehabilitated schools and provided them with furniture so that they can keep bringing out best quality of education the state is known for,” he noted. He assured the leaders of Community Development Councils and Associations that they would be involved in decision making especially on siting and execution of projects in their various communities, assuring that the meeting would be held on regular basis to interface on issues affecting the well-being of theResponding,people. the Chairman, Community Development Council, Ogun Central, Alhaji Waheed Adekunle, appreciated the governor for convening the meeting after waiting for such an opportunity in the state for more than 10 years. He, however, called on the governor to look into the poor state of the Social Development Institute, Shasha, Ilisan- Remo, with a view to putting it in proper shape just as empowerment programmes should be extended to youth in communities to give them a sense of belonging.
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RECEPTION FOR NOMINEES OF HEADIES…
expression. Shutting down 53 broadcast stations on the pretext of non-renewal of their licenses is neither necessary in a democratic society nor proportionate to meet the constitutional and international guarantees of freedom of expression.”
Ogun State Governor, Mr. Dapo Abiodun has said the Gateway Agro Cargo Airport, Ilishan Remo, would run commercial flights when completed. This was even as authorities of the Nigerian Air force (NAF) and the Nigeria Customs Service (NCS) have indicated interest in establishing their operational bases at the Abiodunairport.made this known during an interactive meeting with leaders of Community Development Councils and Associations in all the 20 local government areas, held in his office at Oke-Mosan Abeokuta. The governor disclosed that some airlines have shown interest in operating commercial flights at the airport, which would boost the economy of the state. “Work is ongoing at our Cargo Airport at Ilisan-Remo. I want to inform you that Nigerian Air Force and the Nigeria Customs Service have written to me that they would like to have their operational bases at the airport when it is ready. “Not only that, some commercial airlines operating in the country have also shown interest in the airport. That means by the grace of God, when the airport starts operations this December, people in Ogun State will have the opportunity to board their flights from there to anywhere they want to go rather than going to Lagos,” he said. The governor explained that his administration's decision to build the airport was to ensure that the state benefits from being the industrial hub of the country as well as the numerous value chains that comes from such a gigantic project. The agro-cargo airport was revitalised by the present administration after being abandoned by former Governor Ibikunle Amosun. Its construction commenced in March, 2022. When completed by December this year, it would probably become the fastest constructed airport on the continent.Theproject, when operational would provide no fewer than 25,000 jobs for the people of theAbiodunstate also spoke on plans by his administration to further open up the state for more investment and social activities. He disclosed that the Ogun Light Up project that would ensure constant power in the state would kick-start in the capital city and spread to other parts of the state, while Mowe, Ibafo and Abeokuta would also benefit from the urbanisation project. Abiodun informed community leaders that his administration has started implementing its Multimodal Transportation System with the launch of a pilot Bus Transit programme in Abeokuta, adding that the reconstruction of major federal roads such as the ouraddallopportunitiesandtoRepublic.internationalthebiggestlocation.wasaeconomictoAtan-Lusada-AgbaraSagamu-Siun-AbeokutaIjebu-Ode-Epe,androads,wasensurethatpeoplecarryoutactivitieswithoutstress.“OurmissionwastoprovidefocusedgovernmentandthisinformedbyourgeographicalWehaveborderwiththeeconomyinNigeriaandfifthlargestinAfricaandanborderwithBeninWeencourageinvestorscomeinandinvestinourStateinsodoingcreateemploymentforouryouths.“Wealsoresolvedtocompleteuncompletedprojectsthatwilleconomicvaluetothelivesofpeople.AsIspeak,wehave
Peter Uzoho
Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to instruct the Minister of Information and Culture, Alhaji Lai Mohammed, and the National Broadcasting Commission (NBC) to withdraw the threat to shut down the operations of 53 broadcast stations in the country over alleged failure to renew their licenses.NBChad last week revoked the licenses of the 53 broadcast stations and threatened to shut down their operations within 24 hours over alleged N2.6 billion debt. NBC asked the stations to pay all outstanding license fees on or before August 23, 2022 or shut down by 12am on August 24. But, in a letter dated August 20, 2022 and signed by SERAP’s deputy director, Kolawole Oluwadare, the organisation said the threat to shut down 53 broadcast stations was neither necessary nor proportionate and, if carried out, would offend the legal principles of equity and equality of access to mass communication.SERAPstated, “Revoking the licenses of 53 broadcast stations and shutting down their operations, because they have not renewed their licenses, would undermine the rights of millions of Nigerians to express their thoughts. It would also violate Nigerians’ right to seek, receive, and impart information and ideas of all kinds, in any medium they choose. “We would be grateful if the requested action is taken within 24 hours of the receipt and/ or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest. “The NBC Act and Broadcasting Code cannot and should not be used in a manner that is inconsistent and incompatible with plurality of voices, diversity of voices, nondiscrimination, and just demands of a democratic society, as well as the public interest. When money or economic considerations are the major criteria for renewing licenses for broadcast stations, the fundamental principles of equal access to the media, pluralism and diversity are compromised. “Broadcasting is a means of exercising freedom of expression. Any restrictions on freedom of expression must meet the requirements of legality, necessity, and proportionality. Any regulation of broadcasting must respect these three requirements. With just months to go before the general election, scheduled for February 2023, your government ought to do more to create conditions for a free and fair vote. “This includes demonstrated commitment to freedom of Ogun Cargo Airport to Accommodate Commercial Flights, Says Abiodun
L-R: Hip TV Boss and Producer of Headies, Ayo Animashaun; Lagos Commissioner for Tourism, Arts and Culture, Mrs. Uzamat Akinbil e-Yussuf; Governor Babajide Sanwo Olu and First Lady, Mrs. Ibijoke Sanwo-Olu during the Lagos Constellation of Stars, a reception for nominees of Headies, at the Lagos H ouse, Marina…weekend
Zambia Seeks Dangote’s Support to Develop Country's Agricultural Sector
Soludo to enforce anti-open grazing law, bans movement of cattle by foot in Anambra
UN, EU, ECOWAS' Chiefs, Power Minister, Others to Dialogue on Tackling Nigeria's Electricity Crisis
David-Chyddy Eleke in Awka Anambra State government has sealed off no fewer than 25 banks and hotels operating within the state capital, Awka, for failure to pay their taxes and levies to the state. The facilities were sealed by the Anambra State Internal Revenue Service, (AIRS) over theTHISDAYweekend.gathered that the levies owed were mainly those of sanitation, business premises and sundry government taxes. Head of the team and desk officer in charge of Anambra State Waste Management Authority (ASWAMA) in the Anambra State Internal Revenue Service, Mr. JamesMorgan Ezeodili, said the enforcement was made
Peter Uzoho The Minister of Power, Mr. Abubakar Aliyu would next month in Lagos host representatives of the United Nations (UN), European Union (EU), Economic Community of West African States (ECOWAS) as well as other policymakers, local and international operators and investors to dialogue and proffer solutions to the myriads of problems bedeviling the Nigerian Electricity Supply Industry (NESI). The dignitaries and sector stakeholders would be gathering for the 9th edition of Nigeria Energy Conference 2022, with the theme: "Affordable Reliable, and Sustainable Energy through Collaboration", organised by a Dubai-based company, Informa Markets.According to the organisers, Aliyu would deliver the opening address on the first day, while the Chief Executive Officer/ Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy, Mrs. Damilola Ogunbiyi, would present a keynote address on the day two. Presenting the details of the programme at a press conference in Lagos, the Exhibition Manager, Energy Portfolio, Middle East and Africa, Informa Markets, Mr. Ade Yesufu, said the three day-event would be held in Lagos, from September 20 to 22, 2022, with over 3000 attendees, over 100 exhibitors from 21 countries expected.Hesaid Nigeria’s power sector was in dire need of technological transformation and digitalisation to compete globally and achieve sustainable growth. Yesufu explained that the first step to achieving the above would be to attract key local and international investors not only to dialogue with other stakeholders but to also discover viable mechanisms to solve the challenges in the energy sector. "This is what we will achieve with Nigeria energy. The 9th edition will further these conversations and offers a platform to reflect some of the changes that are going on in the power sector globally," heHeldstated.under the patronage of the Federal Ministry of Power, the energy conference is reputed to be Africa's biggest gathering of energy professionals, featuring world-renowned, innovative power"Visitorscompanies.willbe able to discover the full range of energy products, from conventional power generation through to transmission and distribution (T&D), renewable energy and energy consumption and management in West Africa. "The 9th edition of the show will bring together energy equipment manufacturers, distributors, procurement professionals, dealers, and regulators to lead the discourse on accelerating West Africa’s sustainable energy supply. More than 3,000 stakeholders are expected to attend, with over 100 exhibitors representing over 21 countries", the organisers explained.
2023,” the IEA report stated. Although the Organisation of Petroleum Exporting Countries (OPEC) has recently increased member countries' quota marginally, Nigeria has continued to lead underperforming nations in Africa.InJuly, the country produced a miserly 1.083 million bpd as against the 1.826 million bpd allocated to it by the international oil cartel, a shortage of almost 800,000 bpd. To curb oil theft which has been blamed for the inability to drill more crude, there has recently been massive deployment of the military in the Niger Delta. At a time the international price of crude oil has exceeded $100 for months, the country has been unable to take advantage of the high prices, a development that has negatively affected the economy. In addition, the federal government appears to have realised the futility of deploying only official forces to carry out surveillance activities on the pipelines, with the recent deal with an ex-militant, Mr Government Ekpemupolo, also known as Tompolo, valued at about N4 billion monthly. When President Muhammadu Buhari took over government in 2015, he had insisted that it was a shame that regional warlords were the ones protecting the assets when Nigeria has a capable military. He had thereafter gone after Tompolo who was then handling a surveillance contract under the Goodluck Jonathan administration, chasing him underground for years, until his recent re-emergence. But the IEA report stated that world oil supply hit a postpandemic high of 100.5 million bpd in July despite Nigeria’s perennial underperformance as maintenance were completed in the North Sea, Canada and Kazakhstan.Italsocame on the back of OPEC+ ramping up total oil production by 530,000 bpd in line with higher targets and non-OPEC+ production rising by 870, 000 bpd last month. The IEA noted that refinery throughputs rose by 1.1 million bpd in July and are set for a further 350,000 gain this month, when runs will reach their highest level since January 2020. “The increase was above refined product demand, driving cracks and refinery margins sharply below the all-time highs seen in June. Global refinery runs are now on track to rise by 2.6 million bpd in 2022 and 1.3 million bpd next year,” it added. On the declining oil prices, it stated that rising oil supplies and escalating concerns over deteriorating economic outlook have knocked around $30/bbl off prices from a peak in June. “At the same time, natural gas and electricity prices have soared to new records, incentivising gas-to-oil switching in some countries. “With several regions experiencing blazing heatwaves, the latest data confirms increased oil burn in power generation, especially in Europe and the Middle East but also across Asia,” the IEA added. It stated that the European Union (EU) embargo on Russian crude and product imports that comes into full effect in February 2023 may result in further supply declines, as some 1 million bpd of products and 1.3 million bpd of crude would have to find new homes. “In a largely symbolic move, OPEC+ agreed in early August to raise its supply target by just 100,000 bpd for September, significantly lower than the July and August scheduled increases of 648,000 bpd. “The group noted that severely limited spare capacity should be used with great caution in response to severe supply disruptions, suggesting that substantial further OPEC+ output increases are unlikely in the coming months,” the IEA explained.
NEWS IEA Raises 2022 Global Oil Demand Estimates to 99.7m bpd
FIGHTING THE MENACE OF OIL THEFT...
L-R: Chief of Policy and Plans, Rear Admiral, Nigerian Navy, Saidu Garba, Chief of Training and Operations, Rear Admiral, Solomon Agada and Chief of Administration Rear Admiral Barabutemegha Gbasa, during a press conference on the arrest of MT Heroic Idun Vessel by Equatorial Guinea Navy at Naval Headquarters in Abuja over the weekend ENOCK REUBEN
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Despite Nigeria’s underperformance, agency reports 100.5m bpd July high Emmanuel Addeh in Abuja The International Energy Agency (IEA) has raised its forecast for world oil demand in 2022 to 99.7 million barrels per day in 2022 and 101.8 million bpd in 2023.. In its latest Oil Market Report (OMR), the organisation which provides data, forecasts and analysis on the global oil market, stated that the projection was hinged on soaring oil use for power generation and gas-to-oil switching by many countries. On the back of skyrocketing gas prices, many countries have found a veritable alternative in the deployment of crude oil products, raising the consumption of the black gold. “World oil demand is now forecast at 99.7 million bpd in 2022 and 101.8 million bpd in
Anambra Govt Seals Off 25 Banks, Hotels over Unpaid Taxes, Levies
following a court order on August 11, 2022 to seal off the"Thisbusinesses.isbecause of their refusal or failure to appear in court, after being served with writ of summons, as they refused to pay stipulated levies to state government. "The exercise (sealing of businesses) was part of the state government’s resolve to boost its revenue, and to ensure that the environment was clean by removal of wastes across the roads and streets in the state," he added. Some of the facilities sealed were the Nigeria Police Force, Microfinance banks, Mumbai Festus Hotel, Finotel Classic Hotel, and Shalom Hotel, all in OthersAwka. included Zaramax Hotel, New World Lounge, Summit Splendor Hotel, Ndiolu Micro Finance Bank, and Landmark Hotel Nibo, amongMeanwhile,others. Soludo has banned movement of cattle on foot in every part of the state.Soludo who met with members of Anambra State Cattle Menace Committee at the Government House, Awka, at the weekend, said the ban was in compliance with the 2021 Anti-open grazing law of the state, adding that enforcement would begin from September. “Now that we have a law banning open grazing, the law enforcement agents have been directed to implement it. "Though the law has been in existence since almost one year ago, cattle rearers keep parading certain areas in the state in contravention to the law," Soludo said. Former governor of the state, Willie Obiano had assented to the Cattle and Other Livestock Open Grazing Prohibition and Ranches Establishment Bill of Anambra State in 2021, but failed to enforce the ban. Soludo while speaking at the meeting said his administration would ensure implementation of the law by September. He applauded members of the Anambra State Cattle Menace Committee for their devotion to duty, saying that Anambra people have largely lived in harmony with herdsmen, but the herdsmen must conduct their businesses within the ambit of extant laws.
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the picking of the presidential ticket was the issue of the real age, parentage, educational qualifications as well as the schools attended by the former Lagos State governor. In fact, in the form he submitted to the Independent National Electoral Commission, INEC, the spaces for both primary and secondary schools attended were left blank. He only completed the space for that of university attended. This questions over Tinubu’s educational qualifications first came up when he became the newly elected governor of Lagos State. While the then state House of Assembly gave him a clean bill of health, many political observers knew it was just a political solution as the reprieve from the Assembly did not take away the fact that those questions were never answered. After picking the ticket, those questions came up again and his campaign team has been battling to respond to them while the man at the centre itself all has stoically refused to disclose the names of the schools he attended and the years. The problem is that those questions will not just go away. Another albatross Tinubu has to deal with as his campaign team crisscrosses the country is the near abysmal performance of President Mohammadu Buhari in nearly all aspects of public administration. From insecurity to economy; from infrastructure to religious and ethnic balancing, Buhari has been close disaster. This is well known and documented. How Tinubu will defend this and still convince voters to vote, not just for him but his party is one task no one will want to envy him for.
MONDAY, AUGUST 22, 2022 • THISDAY
“From insecurity to economy; envytaskhimvotersthisHowknowndisaster.Buhariandinfrastructurefromtoreligiousethnicbalancing,hasbeencloseThisiswellanddocumented.Tinubuwilldefendandstillconvincetovote,notjustforbuthispartyisonenoonewillwanttohimfor.”
2023 CAMPAIGN WATCH
SAMUEL AJAYI E-mail: yemielegance@gmail.com Mobile: 08033083367
APC Presidential candidate, Asiwaju Bola Ahmed Tinubu R ight from the day former Lagos State governor and erstwhile National Leader of the ruling All Progressives Congress, APC, declare his intention to vie for the presidential ticket of the party, it has been one issue after the other. Even after, against all odds, he picked the ticket, these issues have refused to go away. And these have made even neutral observers to start asking if his campaign is gaining any traction of achieving the kind of effects his handlers want it to achieve.Avery strong supporter of the former governor and one of his campaign team members told THISDAY on condition of anonymity that they knew from day one that it would be very difficult to market the man many have come to accept as the undisputed facilitator of the Buhari presidency in 2015. He admitted that the performance of Buhari in the last seven years have made the job of Tinubu’s campaign team very cumbersome. “If you want to run a good campaign that will resonate with the people and make them want to listen to you, then you have no choice than to criticise the current governor,” the member said. “But you know Asiwaju cannot come out and be hitting Buhari or criticising how he has handled some issues in the country since he assumed office in 2015. That would be counter-productive. And that is the dilemma we are facing.” But it is even deeper than that. The first brick wall the campaign faced and which is just trying to extricate itself from (perhaps due to the fact that people have moved on from it) was the choosing of a running-mate after controversially picking the presidential ticket. Since Tinubu is a Muslim, though from the South, it would be unthinkable for him to pick another Muslim from the North. But that was exactly what he did when he announced the name of former Borno State governor, Kashim Shettima, as his running-mate. The Christian Association of Nigeria, CAN, and other influential Christian leader across the country had vehemently kicked against a Muslim-Muslim ticket; insisting that it would not cater for the corporate interest of Christians in the country. Just on Monday this week, the General Secretary of the Evangelical Church Winning All, ECWA, Yunusa Nmadu, said the Muslim-Muslim ticket was a plot by Tinubu himself to fail. Nmadu who is also the chief executive officer of Christian Solidarity Worldwide, said, when speaking to reporters in Kaduna, that Muslim-Muslim ticket in both Kaduna State and at the federal level had widened the mistrust among Nigerians. “I don’t know how anybody in their political calculation will ever think they will win election in Nigeria without Christians or win election in Nigeria without Muslims. Those who are flying the Muslim-Muslim ticket either in Kaduna or State or at the federal level, to be categorical, have failed the examination already,” Nmadu said. He added that he would not ever support a Christian-Christian ticket either while admitting that in some states, there is nothing that could be done about either a Muslim-Muslim ticket of Christian-Christian ticket. David Babachir Lawal, a former Secretary to the Government of the Federation, SGF, and a known ally of Tinubu, also kicked against the same faith ticket. So also, was former Deputy Speaker of the House of Representatives, Yakubu Dogara. While it could be said that furore raised by choice of Shettima might have abated, it is debatable if the issue would not come to the fore again as the campaign season runs intoOutdatingclimax.
Fact! Tinubu’s Cam paign Not Gaining Expected Traction
A former PDP National Publicity Secretary, Kola Ologbondiyan who spoke to THISDAY on Wednesday, said the ruling APC should forget even going to the business community for their support; saying that the last seven years have not been business-friendly in any ramification. “The APC should forget going to meet the corporate community and ask for their support,” Ologbondiyan said. “Their policies in the last seven years have been anti-business. That is even aside. In Lagos, where their presidential candidate comes from, just say you want to start a business and see the amount of conditions you need to meet and how different government agencies will nearly frustrate you and tax you for a business you have not evenOlogbondiyanstarted.” might have spoken like a partisan. But the fact remains that his own party, the PDP, has not rolled out any campaign plan that will lure the business community to itsAndcandidate.thatiswhy the question remains if any of the leading presidential candidates is even seeing the corporate world or the business community as a voting bloc they could woo to win additional votes. Or perhaps, they are busy trying to win over the regular voters before reaching out to them. he is only trying to extract as many concessions as possible from the party’s leadership ahead of the coming general elections. How true this is is difficult to say but if Wike’s actions are anything to go by, then it is obvious that he has not been placated over the loss of the PDP presidential ticket. And the question remains: who will placate Wike? Get
Involved?
Ahead of the 2019 general election, some new political parties were registered and one of them was the Alliance for New Nigeria, ANN, championed by Harvard-trained medical doctor and public health specialist, Dr. Jay Osi Samuels. The party used to call itself the ‘technoticians’; a coinage that came from the words ‘technocrat’ and ‘politician’. The party was gaining some interest from the private sector who believed the party would provide them with the platform to get involved in the political process. In fact, its presidential candidate for the 2019 election was Fela Durotoye, a corporate practices coach, who polled over 16,000 votes in the election. Though through gang-up and obvious sell-out by the then National Chairman of the party, Emmanuel Dania, ANN practically lost its way after the elections as Samuels, the man who birthed, financed it, and who even got them their national secretariat was schemed out as the national executive of the party started hobnobbing with some elements within the ruling All Progressives Congress, APC. As expected, the party could not survive post-2019 but the message had been sent, that corporate individuals who were new to politics and not belonging to any of the existing political parties could actually organised themselves and create a platform to be involved in the political process. Ahead of 2023, it seems the corporate sector does not seem to be getting a look-in. And if galvanised and made to get involved in the political process, they are a substantial voting block that will be a massive boost to whoever they choose to support during the presidential election. But is any of the leading presidential candidates even aware of this? It was a massive political statement when current Lagos State governor and known ruling All Progressives Congress, APC, stalwart, Babajide SanwoOlu, landed at the Port-Harcourt international airport and was received by Governor Nyesom Wike of Rivers State, a People’s Democratic Party, PDP, strong pillar. SanwoOlu had been invited by Wike to come and inaugurate a newly constructed bridge by his administration. Earlier, Wike had played host to outgoing governor of Ekiti State, Dr. Kayode Fayemi, current governor of Ondo State, Arakunrin Rotimi Akeredolu, and SanwoOlu himself about a month ago. Their mission in PortHarcourt was to latch into the axe Wike has been grinding with the PDO since he lost the presidential ticket of the party to former Vice-President Atiku Abubakar in May in a keenly contested exercise. Apparently relying on the deep pockets of the party and the nearly one million votes his state could deliver, Wike has been practically holding the party into ransom.Series of reconciliation meetings have been held but none seems to have achieved any result with some of the conditions Wike reportedly gave the party was the removal of the current National Chairman of the party and former Senate President, Dr. Iyorcha Ayu. His argument, according to reports, was that Ayu is a northerner and since Atiku, another northerner, had picked the presidential ticket, then Ayu had to go. But the party was said to have rejected this. It must be noted that while Wike was ‘negotiating’ with his party, he did not stop hobnobbing with the ruling APC and this culminated in the invitation he extended to SanwoOlu to come and inaugurate a project in his state whereas, it was doubtful if any PDP governor was in attendance. ‘ Just on Monday this week, Wike accused Joyce Ifeoma Ogho, a Lagos-based lawyer and confirmed supporter of former Vice-President and Presidential candidate of the opposition People’s Democratic Party, PDP, said it would be a good idea if corporate individuals and those in the private sector are convinced to get involved in the political process and even possibly endorse a particular presidential candidate. He said it was never enough to keep claiming that politics is dirty some PDP elders in the state of ganging up against him. Speaking at the 74th birthday reception for former governor of the state, Dr. Peter Odili, Wike said some party leaders who lost out in the race for the party’s gubernatorial ticket in the state have gone to Abuja to gang up against him and ensure that he did not get the vice-presidential ticket of the party which was eventually and hence, they refuse to get involved. “I am in the corporate world and we are a substantial voting block even if many of us are not aware of this,” Ogho told THISDAY. “That is why I am involved and I am fully an Atiku supporter and I think I will also want as many corporate guys as possible to get involved and possibly support my candidate, former Vice-President AtikuWhileAbubakar.”herwords were mere wishes,
Who Will Pacify Wike?
Rivers State Governor, Nyesom Wike (left) and his Lagos State counterpart, Babajide Sanwo-Olu
17 Staying Close With 2023 2023 CAMPAIGN WATCH
THISDAY • MONDAY, AUGUST 22, 2022
Dr. Jay Osi Samuels, founder of Alliance for New Nigeria, ANN, proponent of ‘Technotician’ Movement
picked by Ifeanyi Okowa, the current governor of Delta State. He said they had signed an agreement with him initially that they would abide by his decision on whoever he chose as his successor only to turn around and gang up against him after losing out on the governorship ticket. Analysts have insisted that Wike is not likely to leave the PDP; saying it must be noted that since many in the private sector do not really belong to any political party, endorsing any particular candidate would surely require the candidates selling their programmes to them especially as they relate to business practices and incentives. Ironically, none of the presidential candidates has rolled out any economic plan that they could sell to the business community.
2023: Will the Private Sector
POLITICS MONDAY DISCOURSEActingGroup Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY 18 THISDAY MONDAY AUGUST 22, 2022 In what appears to be another round of protracted political battle, barely a year after their election into office, the National Chairman of the All Progressive Congress (APC), Senator Abdullahi Adamu and his People’s Democratic Party’s counterpart, Senator Ayiochia Ayu, are both in the eye of storm. Emameh Gabriel reports: As Adamu, Ayu Face Survival Battle...
Adamu told the National Working Com mittee that he arrived at the choice of Lawan after consultation with President Buhari. But President Buhari stepped in immedi ately to save the situation via a statement he issued few hours before the primary to clear all doubts about where he stood on the choice of a presidential candidate for his party. He declared before the party’s governors of northern states that he has “no preferred candidate,” and has “anointed no one,”. Rather, the President said he was deter mined to ensure that “there shall be no imposition of any candidate on the party.”
Similarly, a faction in the APC are also demanding the resignation of the National Chairman of the party, Abdullahi Adamu. The party has however debunked reports of plots to remove Abdullahi Adamu from office.Theparty’s National Publicity Secretary, Felix Morka, in a recent statement said the report was being sponsored by opposition political parties. The statement followed fresh media reports claiming that there were plots to remove Adamu from office. “The attention of the APC has been drawn to opposition-sponsored media reports on plots to remove the National Chairman of the party, Senator Abdullahi Adamu. “The reports are based on the imagina tion of its sponsors ostensibly unnerved by the remarkable achievements of Mr Adamu since assuming office as the national chairman,” the party’s spokesperson said. Morka said the APC and its leaders were currently focused on the important task of building a strong and vibrant electoral cam paign ahead and would not be distracted Tinubu is known to be a good but quiet fighter who wins at all cost. Wike, the man who wants the head of Ayu before considering working for his party, seems determined to have his pound of flesh from Atiku. But will the APC or the PDP risk changing the goal post in the middle of the game going by what is happening in the two parties? Only time will tell Adamu Ayu
Wike has since then been seen in deep romance with the governors of the ruling APC and other stakeholders of the party, mostly during the inauguration of his projects in Rivers State. Lately, there has been pressure on Ayu to resign in line with an alleged agreement he entered into prior to his emergence to step down if the presidential candidate emerges from the North.
But a chieftain of the party who doesn’t want to be mentioned confirmed to THIS DAY that there is an ongoing plot to remove the national chairman of the party and be replaced by Akume. When asked if it was not too early to remove him, he said: “No it’s not too early. Politics is at play. Akume is likely to emerge. “Adamu drew the first blood against Asiwaju and there are consequences for every action. For now we need to placate the “Christian block”, he explained. Adamu was reportedly part of the north ern cabal who attempted to jeopardize the zoning arrangements of the party during its last presidential primary election. Adamu had during the build up to the APC presidential primary election named Senate President, Dr Ahmed Lawan, as President Muhammadu Buhari’s choice to fly the party’s presidential flag.
T he Peoples Democratic Party (PDP) came out of its national convention last October un scathed to the amazement of many, after months of leadership tussles that eventually led to the sack of the party’s former national chairman, Uche Sencondus.Ayuofficially became the PDP’s national chairman through the party’s old tradition of consensus building. Ayu and 19 of the 21 new officials emerged by consensus after a high level horse trading at the geopolitical/ zonal caucus levels, underlining the strong desire of the major opposition party to portray a veneer of unity and stability, and give order to an otherwise very difficult situation.Justfew months after its presidential primary, the party is again enmeshed in an atrocious internal wrangling among factions, underlined by the conflict be tween the vice presidential candidate of the party, Atiku Abubakar and Governor of Rivers State, Nyesom Wike, who is bent on removing the National Chairman of the party, Ayu, as the only condition to keep him and his supporters in the party. If the plot against his removal comes through, it would mean that the party had successfully removed almost all its national chairmen from office before the expiration of their tenure since inception, though with the exception of Ahmed Ali. From its pioneer chairman Solomon Lar, to Barnabas Gemade, Audu Ogbeh, Ah madu Ali, Vincent Ogubulafor, Okwesilieze Nwodo, Bamanga Tukur, Ahmodu Sheriff and Secondus, only one PDP chairman, Ali, served out his tenure and stepped down without rancour. Since then, no one has that feat in the party’s 24 year-old troubled existence.Sincethe presidential primaries of the party, all has not been well, as all prescrip tions intended to bring peace between Atiku and Wike has fell on deaf ears as Wike has remained adamantly unyielding. Similarly, the ruling All Progressive Con gress (APC) is also not spared as it battles to save itself from an intending implosion over its choice of a all Muslim ticket and an alleged plot by a faction believed to be loyal to the national leader and presiden tial candidate of the party, Asiwaju Bola Tinubu, to unseat the national chairman of the party, Senator Abdullahi Adamu. The APC has also in its eight years of existence, produced five National Chairmen namely Bisi Akande, John Oyegun, Adams Oshiomhole, Mai Buni and Adamu. Just last week, indications emerged that Adamu may be axed as governors elected on the platform of the APC and other stakeholders had hatched a sinister plan to indict him so as to justify his ousting if it eventually comes through. Adamu was elected in March as the APC National Chairman despite a strong opposi tion against his candidacy by governors elected on the platform of the party. Adamu who had the blessings of President Buhari came from behind to beat Tanko Al-Makura, a former governor of Nasarawa State and a serving senator, who had the backing of APC governors and major stakeholders. The closest rival then to Al-Makura, was George Akume, a serv ing Minister and also a former governor of Benue State. The APC that has been widely com mended for putting its act together since after its presidential primary, but the latest calls by various factions in the party for the removal of Adamu, has raised some questions about a smooth ride for the party going into the general election next year.
In the PDP, former vice president Atiku Abubakar and Governor Nyesom Wike of Riv ers State are the main actors in the centre of the controversy. Wike, who contested the PDP presidential primary in April this year lost to Atiku after coming second in the contest, was said to have been promised the vice presidential slot by Abubakar to compensate him for his ef forts. This was also supported by majority of the party leadership, including governors elected on the platform of the PDP. But against their position, Atiku went for Delta State Governor, Ifeanyi Okowa, a decision that didn’t go down well with Wike and his faction.
According to Governor Samuel Ortom of Benue State,14 out of 17 members of PDP panel preferred Wike as VP candidate. Ortom, who disclosed this during an interview on national television said the Rivers gover nor should have been consulted before Okowa was announced as the vice-presidential candidate. He said: “Of course, three names were presented. In the or der of preference, Wike, Okowa and governor Udom – all of them are qualified. But the preference was Wike – 14 members (refer ring to the committee) out of 17. This is the point we are making. “Three of them were quali fied but governor Wike was eminently qualified – 14 out of 17 members chose him. All these things were said during our meeting. We said that for the PDP to win, we needed governor Wike. by ‘boring chirps of idle speculators.’
Adamu made the announcement at the meeting of National Working Committee (NWC) in Abuja, leaving the party almost in chaos. This was against initial plans by the Mai Buni-led Caretaking Committee that the party’s ticket be zoned to the South. His announcement of Lawan as Buhari’s choice was also against the position of 11 APC northern Governors, who endorsed that power must shift to the South after President Muhammadu Buhari’s tenure.
“You were elected as I was,” said the President who explained that he had a clear mind about what he was doing and asked the APC governors to feel the same way. “Have a clear mind as I have. God gave us the chance; we have no reason to com plain. We must be ready to take pain as we take the joy. Allow the delegates to decide. The party must participate, nobody will appointAdamu,anybody.”likeAyuwho selfishly manipu lated the zoning of the PDP presidential ticket to the North even against the agita tions from the South that it was the turn of the region to produce the next president, faces an uphill battle to remain relevant in the scheme of things as both parties square up against each other at the polls in February, 2023. Tinubu is known to be a good but quiet fighter who wins at all cost. Wike, the man who wants the head of Ayu before considering working for his party, seems determined to have his pound of flesh from Atiku. But will the APC or the PDP risk changing the goal post in the middle of the game going by what is happening in the two parties? Only time will tell.
The Wike’s camp has insisted on the resignation of Ayu as a major condition to support Atiku in the 2023 presidential poll. But Ayu, according to a tweet by his Media Aide, Simon Imobo-Tswam, last week said he won’t resign. The tweet reads: “The PDP National Chairman, Dr. Iyiochia Ayu, has not resigned and has no plan of resigning.“Forclarity and emphasis, he was elected for a tenure of four years.”
According to him, ”the opposition PDP was quite welcomed to continue to dissipate its energies on innuendos and chasing after phantom plots in APC rather than concentrate on mending its broken and acrimonious house. ”The APC National Working Committee (NWC) remained united under Adamu’s leadership as the party’s national chairman, with the singular commitment to winNing 2023 General Elections.”
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MICROSOFT, OTHERS LOOKING FOR AFRICAN DEVELOPERS
This Week In Tech
Personality of The WeekTHISDAY • MONDAY, AUGUST 22, 2022
WOMEN-ONLY CAB LAUNCHES IN NIGERIA A women-only ride-hailing company, HerRyde, has begun operations in Nigeria. With Abuja being its kick-off point, this initiative is targeted at female equality. According to the co-founders, Monsurah Oluwafuyi, Muhammad Muaza, and Kamaldeen Ibrahim, the initiative was born out of the desire to give female drivers and riders a safer alternative while generating employment chances forThey,women.however, said the establishment was crucial for a society where women are more likely to experience verbal and sexual assault from male drivers while on the HerRyderide.fares will be determined just as Uber and Bolt charges, based on time andThedistance.founders also claimed that HerRyde originated from individual experiences and that their families and friends had encountered physical, sexual, and verbal assault, robbery, etc. According to them, they had to develop a ride-hailing network just for female drivers and riders to protect their safety. They explained that Abuja was chosen as the first state to launch this experience due to its low entry barrier, unlike Lagos, where the demand for several licences from drivers and ride-hailing apps is high.
ADEOLUWA IBIKUNLE
Tech Top 5 News
APPLE SETS DEADLINE FOR EMPLOYEES TO RETURN TO WORK FULLY Tech giant, Apple, has set a deadline of September 5 for employees to resume work fully.
24 08097710984 nosakhare.alekhuogie@thisdaylive.com
Tech
The Federal Competition and Consumer Protection Commission (FCCPC) has told fintechs in the Nigerian space to stop providing payment or transaction services to digital money lenders underFCCPC’sinvestigation.Vice-Chairman, Babatunde Irukera, revealed that the commission had secured orders to disable violators’ ability to bypass regulatory efforts to protect citizens. The government also disclosed that most of these online money lenders did not register their platforms with the Corporate Affairs Commission (CAC) and engaged in activities that were against the rights of Nigerian consumers.Healsonoted that the interest rates charged by these online institutions violated the ethics of how lending is Somedone. identified fintechs, such as Paystack, Monify, Flutterwave, and OPay, were said to be operating payment systems and providing services to online lenders under its investigation for not operating with applicable regulatory approvals. He revealed that the commission had ordered telecommunications and technology companies to stop providing servers or connectivity to these online money lenders. This came several months after the commission had ordered Google and Apple to enforce the withdrawal of these money lending applications from their stores where evidence of inappropriate conduct or use of the application in violation of the rights of consumers had been established. Going further, he said the order requires permission to proceed in digital lending and give suspension for a limited period for existing businesses to comply in order to continue in digital lending.
Multinational technology corporation Microsoft says it is looking for people still in school or who have recently completed a bachelor’s or master’s degree in engineering, computer science or in related fields. They also revealed that persons who have one year of programming experience in languages like Java, Python and PHP and can show an understanding of data structures and algorithms are also required. By going directly to universities for candidates that do not necessarily have years of experience, Microsoft’s betting on the diffusion of the innovation buzz from African tech companies and communities typically based in cities like Lagos, Nairobi, and Kigali, other parts of each country. The tech company may have to thank its competitor, Google, whose developer groups on campuses have become a key channel for introducing young African undergraduates to software development. Microsoft is not the only tech company directly fishing for new talent in Africa as amazon is currently interviewing Nigerian developers for roles. These moves coincide with the growth of software engineering talent in Africa in the last decade. Based on studies, greater big tech interest could be the catalyst for schools in other parts of the continent to compete for places on such rankings in the future.
FG ORDERS FINTECHS TO HALT TRANSACTIONS WITH ONLINE LOAN SHARKS
REPORT: NIGERIA HAS HIGHEST SEARCH ON CRYPTO Nigeria is reported to have the highest search on cryptocurrency globally.Arecent study by price tracker, CoinGecko showed that the giant of Africa showed more interest in cryptocurrencies than any other country since the digital assets began to decline in April. According to the report, Nigeria scored 371 in the study that looked at Google Trends data for six searches such as “buy crypto” or “invest in crypto,” which were combined to give each English-speaking nation a total search ranking. Nigeria was followed by the United Arab Emirates and Singapore. The Nigerian stock exchange said in June, it planned to start a blockchainenabled platform next year to deepen trade and entice young investors to the market. That came after central bank in early 2021 ordered commercial lenders to stop transactions or operations in cryptocurrencies, citing a threat to the financial system. Despite its curiosity about the digital asset market, Nigeria did not rank among the top 10 most crypto-ready nations worldwide even though a lot of Nigerians have turned into ‘HODLers’.AKuCoin report also revealed that 35 per cent of the country’s adults have owned or traded cryptocurrencies in the recent past. A key reason for looking into the sector could be the limited access to monetary services in Africa’s most-populated country, KuCoin stated.
This week’s tech personality is Adeoluwa Ibikunle, the Chief Technical Officer (CTO) and Co-Founder of AirSmat. AirSmat is an agri-tech startup company. With a drone, satellite, soil-level and IoT sensors, AirSmat is helping transform how farmers collect, manage, and interpret farm data. They collect, store, process and share intelligence with farmers. With AirSmat’s products and service offerings, farmers and crop advisors make better and faster decisions. The aim of AirSmat is to help African farmers to maximise crop yield sustainably. AirSmat has worked hard to build a functional AI-powered AgTech application platform that focuses on helping farm owners and farmers across the continent of Africa eliminate guesswork and drive day-to-day farm operations decisions with precision. It combines elements to give the most comprehensive data, insight, and actions available to save crop yield loss and increase yields. AirSmat uses a satellite to provide satellite imagery and weather monitoring forInfarmers.addition to the satellite, the company collects soil-level data and uses drones and IoT sensors to gather ground-level information satellites cannot obtain. There is a unique obsession by AirSmat with data gathering, storing, and processing; the output is then shared with farmers and crop advisors to help make a faster and more accurate decision. In 2018, Ibikunle was the 3rd place inner in Nibss Hackathon where he created a biometric payment authentication facilitator platform.
The Chief Executive Officer, Tim Cook, said the company required employees to work from the office on Tuesdays, Thursdays and a third regular day that individual teams will determine.Inaninternal email sent to the corporate employees, Cook said, “Depending on your role, you will also have the option to work remotely for up to four weeks a year.”According to him, Apple employees will return to the office three days a week starting September 5 under its hybrid work model, as the tech giant prepares to launch a new set of devices and products next month. “Now, the third day you come in will be decided by your teams. Each team will work through the decision about which day is right for them, and you will hear from your leaders soon,” he explained. Apple SVP, software engineering, Craig Federighi said in a memo sent to staff that after years in limbo, “The week of September 5 marks the true start of our hybrid work pilot in the Santa Clara Valley, and I personally can’t wait to experience the special energy of having all of us back in the office together again.” For all other locations, resumption dates may vary based on the current conditions of COVID-19 around the world. “You can expect to receive site-specific communications soon from the COVID-19 Response Team with timing details for your locale,” he said. Cook added that the early ramp-in phase of the hybrid work pilot had been a wonderful opportunity to come together and meet new colleagues in person.
Nosa Alekhuogie
Gilbert Ekugbe
LASG Proposes N1.65tn in 2023 Budget Expenditure, 5% Revenue to GDP Growth 25
The Lagos State Commissioner for Budget and Economic Planning, Sam Egube who disclosed this while speaking at the 2023 budget consultative forum in Lagos, explained that the present administration is cautious and optimistic about meeting the target, adding that plans are also ongoing to reduce the fiscal deficit of the State currently at N500 billion. Egube who was represented by the Special Adviser, Economic Planning and Budget, Adebayo Sodade, also stated the State’s plans to grow the State’s revenue to Gross Domestic Product (GDP) from 2.9 per cent 5 per cent. According to him, “The budget for this year is actually N1.7 trillion made up of both the revenue and the fiscal deficit of N500 billion, what we are trying to do for next year is to prepare the budget and you know this would be the last budget of the administration. We are trying to be cautious and at the same time optimistic. The budget for next year is N1.65 trillion. “This is quite feasible given the fact that as at half year of this year, we are performing at 80 per cent in terms of the revenue. In the medium term, we are still cautious and optimistic because we know that the world economy is still in turmoil. Right now, the inflation in Nigeria is out at 19 perHecent.”said the objective of the 2022 budget is to upgrade the State’s infrastructure while also creating job opportunities and improving youth engagements participation and“Forempowerment.the2022budget, our revenue is performing at 81 per cent and most of the indices are actually performing positively. The total budget performance is 77 per cent and we hope that towards the end of the year, we will move it up to 80-95 per cent before the end of 2022,” he said. Earlier, Director of Budget, Mr. Obajomo Amodu, said the forum is aimed at reaching out to the five divisions of Lagos State so that inputs of all stakeholders are taken into cognizance in the State’s budget process to further ensure transparency and acceptability of theHebudget.added that in fulfillment of the promise of “All inclusive Governance” by the Governor, Lagos State, Mr. Babajide oriarehu.eromosele@thisdaylive.com08056356325
Aggregate FX Inflow Down 17.3% to $6.58bn on Decrease in Non-oil Components
Kayode Tokede The aggregate foreign exchange (FX) inflow into the Nigerian economy dropped by 17.3 per cent to $6.58 billion in April 2022, compared with $7.95 billion in March, the Central Bank of Nigeria (CBN) Economic Report has revealed. The central bank in its April 2022 Economic Report released over the weekend, stated that total FX outflow also decreased by 11.3 per cent to $3.95 billion in, from $4.45 billion in the preceding month. The report disclosed that FX inflow through the CBN declined by 25.6 per cent to $2.47 billion, from $3.32 billion, attributed mainly to 54.3 per cent decrease in non-oil components as a result of an inflow of $1.25 billion proceeds from government debts in the preceding month, as well as TSA, Third-party receipts and other official receipts. According to the report, “FX autonomous inflow also decreased by 11.4 per cent to $4.11 billion from $4.63 billion, due to a decline in invisible purchases: ordinary domiciliary account ($1.33 billion) and non-oil export receipts ($0.49 billion).“FXoutflow through the Bank declined by 19.3 per cent to $2.86 billion from $3.54 billion in March, due, largely, to decreases in FX sales at the Investors and Exporters window (I&E), Small and Medium Enterprises (SME) intervention and interbank/invisible FX windows, Drawings on Letters of Credits (LCs), as well as Public Sector/ Direct“AutonomousPayments.outflow, increased by 20 per cent to $1.09 billion from $0.91 billion in March, on account of increased invisible imports. Consequently, a net outflow of $0.39 billion was recorded through the Bank in April 2022, compared with a net outflow of $0.23 billion in the previous month.”
Continued on page 27 RATES AS AT AUGUST 19,2022 MONEY MARKETREPOS & P INDEX S & P INDEXEXCHANGE RATE OPR 11.25% CALL 10.25% INDEX LEVEL 613.31% 1/4 TO DATE -0.85%N416.86/ 1 US DOLLAR* OVERNIGHT 11.50% 1-MONTH 9.56% 1-DAY 0.16% YEAR TO DATE 7.64%*AS AT LAST FRIDAY 3-MONTH 10.52% MONTH-TO-DATE 0.44% Continued on page 27 MARKET DATA AS AT FRIDAY, AUGUST 19, 2022 BILLS MATURITY countDis- Yield (%)Change Updated Time NTB Nov-2210- 3.903.94 0.00August 18, 2022 NTB 26-Jan23 9.8010.24 -0.01August 18, 2022 NTB 9-Feb23 10.0010.50 -0.01August 18, 2022 NTB 9-Mar23 10.0510.64 -0.01August 18, 2022 NTB 27-Apr23 4.905.07 0.00August 18, 2022 BONDS DESCRIPTIONPriceYield (%)Change Updated Time ^14.20 MAR-202414- 104.5510.96 0.00 18,August2022 13.53 MAR-202523- 103.05 12.11 0.00 18,August2022 ^12.50 JAN-202622- 98.90 12.90 0.00 18,August2022 ^16.2884 MAR-202717- 112.10 12.71 0.00 18,August2022 ^13.98 FEB-202823- 104.50 12.82 0.00 18,August2022 OTC FX FUTURES (MONTH)TENORCONTRACT Contract ($/₦)RateCurrent Updated Time 1 NGUS AUG 31 2022 433.54 August 18, 2022 2 NGUS SEP 28 2022 435.39 August 18, 2022 3 NGUS OCT 26 2022 437.24 August 18, 2022 4 NGUS NOV 30 2022 439.09 August 18, 2022 5 NGUS DEC 28 2022 440.94 August 18, 2022 MATURITYDiscountYieldCPSChange(%) Updated Time FDHP CP 17-MAR-23III 14.7516.12 -0.01August 18, 2022 VHPL CP 1-APR-23III 18.6721.10 -0.01August 18, 2022 THISDAY MONDAY, AUGUST 22, 2022
The Lagos State Government has earmarked N1.65 trillion for next year budget spend, noting that the target is feasible going by the brilliant performance the current budget has recorded in the first half of the year at 80 per cent.
BUSINESS WORLD Group Business Editor Eromosele Abiodun Email
Specifically, the report stated that weaker global growth concerns amid global inflation pressures and uncertainties in the international crude oil market, led to a decline in general trade performance in April 2022. It revealed that Nigeria’s total trade declined by 8.4 per cent to $10.79 billion from $11.78 billion in March 2022. “The development led to a decline in the trade surplus by 50.8 per cent to $0.93 billion in the review period from $1.89 billion in the preceding month. A disaggregation showed that aggregate export receipts fell by 14.3 per cent to $5.38 billion from $6.29 billion in March. “Similarly, merchandise import fell marginally by 0.3 per cent to $4.07 billion, from US$4.08 billion in the preceding month, ”the report stated.The report added that the government retained revenue increased owing to higher allocation from the Federation Account. “At N417.96 billion, the provisional retained revenue of the FGN rose by 14.3 per cent, relative to the level in the preceding month. However, it fell short of the budget by 53.3 per cent, indicating the lingering revenue challenges. Aggregate expenditure rose in April 2022 as the Federal Government ramped up public investment. Provisional aggregate expenditure rose by 23.8 per cent to N1,061.04 billion, from N856.87 billion in March. “The increase was driven by the 94.1 per cent and 11.3 per cent increase in capital and recurrent spending, respectively. The significant rise in capital expenditure indicates the government’s commitment to infrastructural development. Nevertheless, recurrent spending maintained its dominance in total expenditure, accounting for 71.4 per cent; capital expenditure and transfers constituted the balance of 24.7 per cent and 3.9 per cent, respectively.“The14.3 per cent increase in FGN retained revenue was offset
Ebere Nwoji Director General of the National Health Insurance Authority (NHIA), Professor Mohammed Sambo has refuted reports in a section of the media (not THISDAY) that the NHIA Act 2022 has mandated a 15 per cent deduction from workers’ salaries as health tax monthly. In a chat with journalists in Lagos, Sambo said he was disappointed with the report noting that he had in several forum dissected the issue and sources of funding of the 83 million vulnerable Nigerians targeted for health insurance inclusion. According to Sambo, the said report quoted the federal government as saying that all Nigerian employers and employees would be mandated to contribute 15 per cent of their salaries to the NHIA scheme.Sambo said there was no part of the NHIA Act that has conveyed a mandatory 15 per cent health tax on workers’ salaries describing the report as lies from the pit of hell promoted by unscrupulous elements within the healthcare system to destabilise the new Act in place to bring about an unprecedented reform in the nation’s healthcare delivery system. He said, “I have convened meetings with you guys (journalists) in Abuja last week. All the media were there. I have dissected all the contents of the Act to you, there was nowhere I mentioned 15 per cent. You have received that report why then is somebody telling you about 15 percent and you listen to him? We are to interpret the content of the Act not somebody from the backside that will come and interpret the“So,Act.why is somebody trying to put something that is not there? That’s my question. I have convened a very comprehensive meeting with all the media representatives and I had taken time to explain contents of the new law. I did not mention anything 15percent. So if you want to take a story and make it a policy you are left alone.”
The Standards Organisation of Nigeria (SON) has warned manufacturers against patronizing quacks and advised them to always use the National Metrology Institute (NMI), Enugu in calibrating their measuring instruments. The Director General of SON, Mallam Farouk Salim, gave the charge at the general stakeholders sensitization campaign organised by SON in Abeokuta. He said the theme of the event - “Meeting Global Competitive ness” - was in line with Federal Government efforts to develop export as another source of revenue to sustain the economy. Salim warned manufacturers to desist from patronizing quacks that claim to have calibration certificate, noting that these unscrupulous individuals do not have the competence and authority to carry out calibration according to international standards. He said that SON would ensure that quacks would have no room to operate in the country. “The quacks are out there to cheat people, stressing that their services do not add value to the industry and economy. SON will ensure calibration of equipment is properly done before verification. This is why SON with all its equipment and staff trained to carry out these services are out to ensure that calibration is done according to international best practices in Nigeria, ”he said. He explained that the NMI represented Nigeria in all matters of metrology, stating that the highest accuracy standard of measurement in Nigeria was traceable to the institute.Salimsaid that NMI has state-ofthe-art equipment and staff trained to carry out these services according to international best practices in Nigeria. project in six countries (Bangladesh, Honduras, Kenya, Nigeria, Pakistan, andTheseTurkey).countries were chosen because they are all committed to making progress in women’s financial inclusion and could serve as replication models for other nations. The panelists were: Leora Klapper from the World Bank; Mayra Buvinic, an expert at gender and social development at Data 2x; Anna Gincherman, partner at ConsumerCentrix (CCX); and Inez Murray, CEO of the Financial Alliance forTheyWomen.stated that new findings from diagnostic reports from six countries in the Women’s Financial Inclusion Partnership show an untapped market for women’s financial services of up to $800 million.Theexperts regretted that women are marginalised financially by traditional banks when it comes to access to financial services and products, mostly because they lack access to title deeds and ownership of property, as well as unrealistic interest“Theyrates.areless likely to own bank accounts and less likely to be offered loans even though the upkeep of the home and family is usually on their shoulders.”
The National Pension Commission (PenCom) ensures the recovery of unremitted pension contributions with penalties from employers that fail to remit pension contributions of their employees as and when due. The Pension Reform Act 2014 (PRA 2014) provides that every eligible employee shall maintain a Retirement Savings Account (RSA) with any Pension Fund Administrator (PFA) of their choice. Once an RSA is opened, the employee must inform their employer by submitting the RSA Personal Identification Number (PIN) issued by the PFA. Subsequently, the employer is required to deduct at source the monthly contributions of the employee, not later than 7 working days from the day salary is paid, and remit an amount comprising of 8 per cent employee and 10 per cent employer contribution to the Pension Fund Custodian (PFC) specified by the PFA of the employee. It should be noted, however, that the 18% pension total monthly pension contribution is a prescribed minimum as the employer may elect to increase the rate or bear the whole burden on behalf of the employee. Furthermore, the PRA 2014 states that an employer who fails to deduct or remit the contributions within the stipulated time frame of 7 working days from the day salaries are paid shall, in addition to making the remittances already due, be liable to a penalty, which shall not be less than 2 per cent of the total contributions that remain unpaid for each month or part of each month the default continues. The penalty amount shall be recovered as a debt owed and paid into the employee’s RSA. The recovery of outstanding pension contributions carried out by appointed Recovery Agents (RAs) commenced in June 2012 with the appointment of 173 firms. The exercise set out to achieve, amongst others, the recovery of all unremitted pension contributions of employees with a penalty, to ensure that affected employees do not lose any income that they would have earned from the investment of the funds, secure full compliance of organisations with the PRA 2014, and also, reduce complaints of non-remittance of pension contributions by employees’ thereby boosting confidence and acceptability of the Contributory Pension Scheme (CPS). The recovery process requires the Recovery Agent to diligently follow the outlined steps, which commences with obtaining a list of assigned defaulting employers from PenCom, getting letters of introduction from the Commission to the employer introducing the RA and requesting the employer to co-operate with the RA for a thorough review of pension records with the organisation’s Human Resources Department to determine liabilities, serving demand notices to employers to remit outstanding pension liabilities plus penalties. Recovery Agents are mandated by the Commission to follow up with the defaulting employers to ensure remittances of outstanding pension contributions. Evidence of payments is obtained by the RAs and forwarded to the Commission for onward confirmation by the PFCs. It is pertinent to note that the principal contributions are remitted along with the penalties recovered and paid into employees’ RSAs to make up for the accruable income from investment of pension funds which may have been lost due to non or late remittances by employers. PenCom and PFAs bear the recovery cost due to RAs as it comes at no cost to RSA holders. The recovery process is still ongoing, and substantial outstanding contributions and penalties are being recovered from employers. For instance, during the second quarter of 2022, about N721.12 million was recovered from 20 defaulting employers. A breakdown of the recovery within the period shows that about N517.65 million was recovered as principal contributions while N211.47million was the penalty paid. In addition, from the commencement of the exercise in June 2012 to 30 June 2022, the RAs have made recoveries totalling N22.13 billion, comprising principal contributions of N11.44 billion and penalties of N10.69 billion, from employers who defaulted in remittance of mandatory pension contributions.TheNational Pension Commission also prosecutes recalcitrant employers who persistently default on the remittance of pension contributions. The Commission encourages employees to report employers who are not remitting their pension contributions or are not remitting the total 10 per cent employer and 8 per cent employee components of the contributions as specified in the PRA 2014.
The CEO of Nigerian Exchange Limited (NGX), Mr. Temi Popoola re-emphasised the Exchange’s commitment to promoting corporate governance in Nigeria at the launch of the Corporate Governance Charter organised by the Nigerian Bar Association Section on Business Law (NBA-SBL) In his opening remarks, Popoola stated that the launch demonstrates the Exchange’s track record of leadership in promoting corporate governance amongst listed companies and other stakeholders within the capital market ecosystem.“Forus as an exchange, sustainability is a key component of our strategy as we aim to enhance corporate governance in the Nigerian capital market. In line with this, the Exchange incorporated corporate governance principles in its listing and post-listing requirements and established a corporate governance rating system (CGRS) that provides a comprehensive diagnosis of Nigerian companies’ corporate governance and business integrity practices. Our corporate governance index, NGX CG Index, also tracks the performance of all CGRS-rated companies listed on the Exchange which enables adherence to best practices”, he said. He further explained that “these initiatives build on the firm belief shared with NBA-SBL and the Institute of Directors, Nigeria (IoD), that good corporate governance and compliance structures are foundational requirements for facilitating competitive advantage and profitability, which ultimately stimulates capital market efficiency, economic growth and investments”. “At NGX, we recognize our truly unique role as a securities exchange that can foster the growth of long-term sustainable capital, while positively influencing our key stakeholders to adopt sustainable business practices, including best corporate governance practices and policies. Promoting effective and sustainable leadership is critical for us to achieve this objective, and for this reason, the partnership with IoD and NBA-SBL remains of paramount importance to us.”
Experts have identified data and political will as key to unlocking women’s financial empowerment and engendering financial inclusion of women in developing countries. To reach gender equality, they stated that gender data must be used to inform policies that can address and mitigate gender inequalities at the global, regional, and national level.These were some of the recommendations made at a recent virtual conference involving experts from the World Bank, the Women’s Financial Inclusion Data Partnership (WFID), ConsumerCentrix and DataThey2X.analysed women’s financial inclusion since COVID-19, and also discussed a three-year gender data Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)
SON Urge Manufacturers to Shun Quacks in Calibrating Equipment
PENCOM DG, Aisha Dahir-Umar
NGX Sustains Leadership in Promoting Corporate Governance
26 BUSINESSWORLD NEWS
NHIA Denies Mandatory 15% Health Tax Deduction From Workers’ Salaries
Kayode Tokede
Asked where the alleged 15 percent emanated, Sambo said, “I don’t know you can go and do an investigative journalism to know where it came from, find where’s the source of that information.” He however said there used to be 15 per cent before salary was consolidated and ever since salary was consolidated in 2004 nobody has been talking about 15percent.
Experts Seek More Financial Inclusion for Women in Developing Countries
How PenCom Recovers Outstanding Pension Contributions from Employers
MONDAY, AUGUST 22, 2022 THISDAY
AGGREGATE FX INFLOW DOWN 17.3% TO $6.58BN ON DECREASE IN NON-OIL COMPONENTS by the 23.8 per cent rise in public spending, leading to an expansion of the fiscal deficit. At N643.09 billion, the provisional fiscal deficit of the FGN was 30.9 per cent above the level in the preceding month, “the reportWithsaid.adecline in retained revenue and increase in expenditure, the federal government has recorded a whopping sum of N2.26 trillion as fiscal deficit in the first four months of This2022.is 17 per cent below N2.72 trillion fiscal deficits reported in first four months of 2021. Analysis of the report revealed that fiscal deficit in January was N545.63billion and it moved by 6.5 per cent to N580.93billion in February 2022. The figures, thus, dropped to N491.28billion and recorded a sharp increase of 31 per cent to N643.09billion in April 2022. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed had last month disclosed that the federal government recorded a N3.09 trillion deficit in its 2022 budget implementation between January and Commenting,April.theCEO, Wyoming Capital & Partners, Mr. Tajudeen Olayinka said the increasing deficit could further hurt Nigeria’s economy with high inflation rate andHedislocation.urgedthat, “The only way to curb unacceptable fiscal deficit is for the government to allow the economy run a normal course of adjustment, while at the same time putting private sector on the driver seat. Nigeria’s economy is in the dire need of drip and bloodFurthermore,infusion.”the report stated that the financial sector was stable in the review period as key financial soundness indicators remained resilient. The report also revealed that the banking industry Capital Adequacy Ratio (CAR) rose marginally by 0.04 percentage point to 14.62 per cent in April 2022, compared with 14.58 per cent in the preceding month. This, the report stated was occasioned by a tepid increase in total qualifying capital and slight reduction in risk weighted assets. The ratio was above the minimum threshold of 10.00 per cent. “In the review period, banks’ loan quality indicator rose slightly by 0.3 percentage point relative to the preceding month and remained above the 5.0 per cent prudential requirement, respectively. The slight increase in the nonperforming loan ratio (NPLr) was due to the reclassification of the credit portfolio. “The industry liquidity ratio4 (LR) was above the regulatory benchmark of 30.0 per cent. At end-April 2022, the LR fell by 1.3 percentage points to 54.5 per cent, compared with 55.8 per cent in the preceding month, showing a decrease in the stock of liquid assets held by banks, ”the report added.
On investment management, he said, “Growth in AUM by 47per cent YoY and associated asset management fees, driven by our PFA acquisition and increased market share in the Pensions business. “Stronger profitability in H2 2022 due to lower regulatory costs in Q4, as the Banking subsidiary conducts its annual 9M interim audit.”
The group added that it acquired over 900,000 customers in H1 2022, a 2x growth above H1 2021 with Group customer base crossing the 10 million mark.
KEY RATIOS MAINTAIN POSITIVE TRAJECTORY In the period under review, key ratios of FCMB group maintained positive outcome, above the threshold of the regulating body. For instance, Capital Adequacy Ratio closed H1 2022 at 15.1 per cent from 17.1 per cent reported in H1 2021, while liquidity ratio was at 30.7 per cent in H1 2022 from 35.7per cent reported in H1 2021. The group recorded strong Q2 RoAE of 13.5per cent, bringing its H1 2022 RoAE to 11.1per cent as a direct result of our growth in profitability. FCMB Group’s net Interest margin increased by 7.2per cent and 8.0% QoQ and YoY respectively driven by a growth in earning assets yield. In addition, Cost to Income ratio also improved by 10.1per cent and 12.9 per cent QoQ and YoY respectively.
DIGITAL PERFORMANCEBANKING
The group generated N17.3billion from digital payments and lending activities in H1 2022, a 51per cent growth from for H1 2021. It now accounts for 14 of gross earnings driven by lending and payments On digital loans, the bank disclosed that over N114billion was disbursed to 455,000 customers as at H1 2022, while total portfolio size (N74.0billoon) grew by 111per cent from H1 2021. Digital lending now accounts for 61per cent of digital revenues and it has 8.3 million digital customers up 15.3per cent from 7.2 million (June. 2021).
Sanwo-Olu at the inception of his administration, the State has always adhered to proper consultation and due diligence especially in decision making processes.According to him, the forum will also afford the State to update stakeholders on the half year performance of the budget and the resources available for the annual budget taking into consideration all economic variables such as price of oil, inflation, interest rates and the national security challenges. “Most importantly, this forum provides us with an ample opportunity to share ideas geared towards a greater Lagos while rubbing minds with you, the citizens in order to ensure that your desired interests are captured in the budget as resources available permits,” he said.
BALANCE SHEET DRIVES H1 2022 The group closed June 30, 2022 with N2.65trillion in total assets from N2.49trillion reported in full year ended December 31, 2021, driven by loans & advances to customers and Deposits from customers. As at June 30, 2022, FCMG group reported N1.12trillion loans & advances to customers from N1.06trillion in 2021, while deposits from customers rose by 5.3 per cent to N1.64trillion as at June 30, 2022 from N1.55trillion reported in According2021.tothe bank, lending to agric. Sector rose to N87.9billion in as at June 2022 from N53.6billion in previous year. The bank said it deployed N6.3 billion loans to over 52,000 MSMEs at an average ticket size of N99,000, 77per cent of which were women.
THISDAY MONDAY, AUGUST 22, 2022
BUSINESSWORLD STATUS REPORT 27
LASG PROPOSES N1.65TN IN 2023 BUDGET EXPENDITURE, 5% REVENUE TO GDP GROWTH
FCMB Records Improved Performance amid Challenges
Kayode Tokede
OUTLOOK FOR 2022 Commenting on the 2022 outlook, the Group Chief Executive, FCMB Group, Mr. Ladi Balogun in a presentation to investors/analysts, stated that the Group is revising its YoY PBT growth target from 25per cent to 40per cent driven by the following Increase in digital revenues by over 30per cent YoY from digital lending & “Atpayments.ourcurrent run rate digital revenues are projected to exceed N34 billion for 2022 FY. A growth of over N8 billion from the N26.2 billion delivered in 2021.”
On the backdrop of growing gross earnings and effective management of operational expenses, FCMB Group Plc emerged stronger in unaudited half year (H1) financial statement for period ended June 30, 2022 in profits and Earning Per Share (EPS). The Group reported 73 per cent Year-onTear (YoY) increase in profit before tax to N15.4billion in H1 2022 from N8.9billion reported in H1 2021, while Profit after tax grew by 80.8per cent to N13.66billion in H1 2022 from N7.55billion in H1 2021. The Banking Group contributed 71per cent of Group profits, whilst other nonbanking subsidiaries contributed 29per cent (Consumer Finance 14per cent, Investment Management 11 per cent, and Investment Banking four per cent). As indicated in profit & loss figures, key drivers to double-digit growth in profits include significant increase in gross earnings, sharp rise in net Interest Income, on-Interest Income, and the effective management of Operating expenses. With the increase in profit, EPS closed H1 2022 at N0.69 from N0.38 per share. In the period under review, the Group reported N121.16billion gross earnings, representing an increase of 22.8 per cent from N90.55billion reported in H1 2021. Net Interest Income closed H1 2022 at N60.17billion, representing an increase of N42.99billion in H1 2021, driven 35per cent increase in interest income to N98.09billion in H1 2022 from N72.67 billion in H1 2021, as loan book grew by 22per cent YoY. Also, interest expenses stood at N37.92billion in H1 2022, from N29.67billion reported in H1 2021. The group’s Non interest income also grew by 29per cent YoY to N23.07billion in H1 2022 from N17.88billion in H1 2021, largely driven by growth in service fees and commissions and trading income despite a decline in Foreign Exchange revenues.Inaddition, trading income grew 132per cent YoY to N6.13billion in H1 2022 from N2.64billion in H1 2021 over higher volumes of fixed income instrument trades during the year. Operating expenses increased 19.1per cent YoY to N57.11billion in H1 2022, due to increased regulatory costs, investments in technology, and general inflationary pressures. The group, thus closed H1 2022 with impairment charges of 167per cent YoY to N10.7billon in H1 2022 from N4.01billion in H1 2021, on the back of increased provisions on risk assets as evidenced by the growth balance sheet. The Group hinted that its four operational platforms are gaining traction and profit growth. (Banking 84per cent, Consumer Finance 42per cent, Investment Banking 254per cent and Asset & Wealth Management 42per cent On Technology Platforms (TP1), it maintained that a borderless banking platform focused on inbound remittances, investments and payments serving the African diaspora and Global citizens in Nigeria.
SMILE
Lawal: Ecobank to Sustain Support Deployment of Logistics Solutions across Nigeria Wins Internet Access, Data Connectivity Awards W.TEC Graduates over 600 Girls in ICT Skills in 14 Years
Emma Okonji Women’s Technology Empowerment Centre (W.TEC), a technology skills training platform for young girls with passion for technology, has consistently trained young females in Information and Communications Technology (ICT) in the past 14 years. W.TEC, at the weekend in Lagos, graduated another 28 females in different technology skills.This year’s training, which held at Laureates College, in Oshodi, Lagos, had 28 females in attendance who were trained in various technology skills for two weeks, bringing the total number of girls trained to 609, since 2008, when W.TEC commenced technology skills acquisition for young girls between the ages of 13 and 17Speakingyears. at this year’s graduation ceremony, which attracted parents and wards of the participating students, the Founder and Executive Director at W.TEC, Oreoluwa Lesi said: “The vision of W.TEC is to impact technology skills in students who are interested in Science, Technology, Engineering, and Mathematics (STEM), and to grow the minds of female students towards technology related courses.” According to her, the students were camped away from their homes, in a school with modern technology facilities and they were trained in various computer software applications and programming. “Societal stereotype has compelled girls to begin to lose interest in technology and engineering, with the mindset that such courses are meant for males alone. W.TEC is however re-addressing that erroneous societal belief by giving girls the opportunity to develop their interest in technology and to study technology and engineering related courses. “The girls were trained in computer software programming, software innovation, software applications and use interface design, renewable energy and basic electronics. So they are able to build power banks from locally sourced materials and laptop keyboard lights. The instructors are technology savvy people with hands-on experience as well as facilitators from W.TEC. We also invited industry-based partners from different companies that taught them on career development and financial literacy,” Lesi said.
Kayode Tokede The Managing Director and Regional Executive, Ecobank Nigeria Limited, Bolaji Lawal has assured that the Bank will continue to provide a platform for harnessing and powering the creative industry in Nigeria and beyond the shore of the country. He made this pledge at the Photography, Art, and Design Exhibition (PADE) event held by the Bank to commemorate this year’s World Photography Day in Lagos. The managing director restated the bank’s commitment and determination to contribute to sustainable economic development, working with the youths, local community, and society at large to improve quality of life, in ways that are both good for business and national development. Lawal, who was represented by the Executive Director/Chief Risk Officer, Biyi Olagbami observed that Nigeria has an assemblage of articulate and creatives minds who have demonstrated love for the profession and are telling the African story in many ways through their lenses, and that as a Pan African bank, part of Ecobank’s vision is to serve as a platform for harnessing and powering the creativity of the AfricanAccordingcontinent.tohim, “For us as a bank, we decided to commemorate the World Photography Day, understanding it was an opportunity to help showcase the brilliance of Nigerian creatives to the world. It is part of our current strategy as a Pan African Bank to sustain our legacy as a foremost supporter of the creative industry in Nigeria, providing a platform for harnessing and powering creative talents on the AfricanFacilitatorscontinent”.atthe masterclass session including veteran creative photographer, painter and artist, Kelechi Amadi -Obi; Pocket Lawyers, Ngozi Nwabueze; ace Photojournalist, Pius Utomi Ekpei, Agence France-Presse (AFP); art photographer, August Udoh and a creative director/photographer Yemi Disu were full of praises for the Pan African bank, stressing that such massive support and partnership from corporate organizations would further stimulate the growth of the art and business of photography. They shared their experiences and offered tips on how to excel in the profession.
For Creative Industry SmartParcel Begins
Emma Okonji SmartParcel, Nigeria and Africa first innovative logistics parcel solution provider has commenced deployment across strategic locations in Lagos and other cities acrossCo-Founder/COONigeria.
SmartParcel, Mr. Benjamin Adeyemo, who made this known during the opening of the Lagos Island Smart Locker locations at Mandilas Building and Andora Best Shopper Mart on Broad Street, in Lagos recently, said: “Businesses and individuals on the Island and across Nigeria now have a new, easy to use, and convenient delivery service powered by smart and innovative technology.”According to him, the easy to use solution aims to solve logistics and delivery challenges by creating seamless and Smart lockers, positioned in strategic locations where users can send and receive items meant for them. “The first step is to download the SmartParcel app on Google PlayStore or Apple store. Sign up to get your unique Locker code. The depositor will then use the code to deposit his/her item in the Locker. SmartParcel will then assign a trusted rider to pick up and deliver the item at the recipient closest or preferred SmartParcel collection centre. The recipient gets an instant notification after the rider drops the parcel at the SmartParcl Locker. The depositor also gets an alert after the parcel is collected by the recipient,” Adeyemo said, adding that the businesses on Lagos Island will enjoy a maximum of 12 hours delivery circle.
BUSINESSWORLD NEWS 28 MONDAY, AUGUST 22, 2022 THISDAY
L-R: Chairman/Managing Director, Henkel Nigeria, Mr. Rajat Kapur; WAW Brand Ambassador/2nd Runner-Up, Nigerian Idol Season 6, Akunna Okey; and Senior Brand Manager, Marketing Laundry and Home Care, Henkel Nigeria, Oluwaseun Ayeni, at Akunna’s listening party in Lagos… recently PHOTO: ETOP UKUTT
NGX: Foreign Investors’ Outflow Up 11.4% YoY to N138.97bn on FX Scarcity Kayode Tokede Following the scarcity of foreign exchange in Nigeria, foreign investors’ have continue to exit the stock market as outflow on the floor of the Nigerian Exchange Limited (NGX) grew by 11.4 per cent Year-on-Year (YoY) to N138.97billion in seven months of 2022 from N124.75billion reported in seven months of 2021 The Domestic and Foreign Portfolio Investment (FPI) report that captures transactions as well as trading figures from market operators, revealed that foreign investors’ inflow, thus, rose by 19.03 per cent YoY to N134.19billion in seven months from N112.74billion reported in seven months of 2021. The report disclosed that total foreign investors’ transactions in the equities market rose by 15.02 per cent to N273.16billion in seven months from N237.49billion reported in seven months of 2021. The report, which is for for the month of July disclosed that foreign inflows recorded N13.68 billion, while foreign investors’ outflow stood at N16Accordingbillion. to capital market analysts, since the outbreak of COVID-19, inflows across capital importation, loans, diaspora remittances, exports, income from investments and other autonomous sources have beenHowever,dwindling.domestic investors have continued to hold its ground on the floor of the NGX despite rising inflation and currency volatility in the foreign exchange market, which remained key drivers of the domestic & foreign portfolio investment.Thetotaltransactions done by domestic investors on the floor of the NGX grew by 68.05 per cent YoY to N1.49 trillion in seven months as against N886.7 billion recorded in seven months of 2021. The report also disclosed that domestic retail investors traded N482.79billion in seven months of 2022, representing an increase of 29.5per cent from N372.88billion in seven months of 2021, while domestic institutional investors traded N1,007.28billion in seven months of 2022 from N513.82billion in seven months of Although,2021. the July report revealed that total transactions at the nation’s bourse decreased by 35.36 per cent from N156.52billion (about $371.53million) in June 2022 to N101.18 billion (about $236.86 million) in July 2022, the performance of the current month, however, when compared to the performance in July 2021 (N89.77 billion), total transactions increased by 12.71 per Furthermore,cent. the total value of transactions executed by domestic investors outperformed transactions executed by foreign investors by 42 per cent while domestic inflows and outflows stood at N36.97 billion and N34.53 billion respectively, in the month of July 2022. Over a 15-year period, domestic transactions had decreased by 58.80 per cent from N3.556 trillion in 2007 to N1.465 trillion in 2021 whilst foreign transactions also decreased by 29.38 per cent from N616 billion to N435 billion over the same period. On the other hand, total domestic transactions accounted for about 77 per cent of the total transactions carried out in 2021, whilst foreign transactions accounted for about 23 per cent of the total transactions in the same period.
Emma Okonji Smile Nigeria has again emerged the winner of the African Brand Leadership Merit Awards as Africa’s Best Internet Access and Data Connectivity Service Provider of the Year 2022. The latest awards, which benchmark industry leadership performance, was earned by Smile for its high brand equity in which is ingrained the properties of high visibility, product proficiency and excellent customer service. It was bestowed on Smile at a well-attended African Brands Congress held at Sheraton Hotels, Ikeja, Lagos and hosted by African Brands Media Limited. An insight into the choice of Smile as a recipient of the 2022 African Brand Leadership Merit Award, by the organisers of the event noted that “Smile Communications is actively transforming the nation’s economy by providing universal access to high-quality, reliable, easy-to-use and affordable communication services across Nigeria.” Smile, according to the organisers, was also recognised due to its knack for innovative products and consistent provision of innovative services. It was noted that the theme for the 2022 African Brand Congress ‘Digital technology, AI and IoT: A Catalyst For Brands Growth’, sits comfortably with Smile’s evident innovative streak and constant deployment of cutting edge technology.
Michael Dimkpa Edible oil is a kitchen staple in many homes and choosing the right oil from nutrition, affordability and availability perspective remains at the heart of consumer preference for any brand. If your intention is to make deliberate choices to improve your heart health and lower the risk of cardiovascular disease through healthy edible oil, then your best bet is Soya bean oil. Soya bean oil contains Polyunsaturated fatty acids (PUFA) considered as “good fat” for heart health. These PUFAs comprise Omega 3 and Omega 6 fats which are beneficial for your heart as they ease inflammation, reduce the development of heart disease, lower “bad” cholesterol, and boost “good” cholesterol. To help your heart perform optimally, your best choice of Soya bean oil is Golden Terra Soya Oil with 5x PUFA. The type of edible oil an individual uses in cooking is important in the light of the prevailing cases of heart-related diseases globally, particularly in Nigeria. This is so because what an individual consumes and its impact on the heart remains very important to his overall wellbeing. One brand that is currently driving national discourse and raising a community of consumers making conscious decisions on heart friendly soya bean oil choice is Golden Terra Soya Oil. The brand is not only doing this but it is prioritizing heart health for a wider spectrum of consumers across Nigeria by providing more affordable choices. While many consumers are embracing the choice of Golden Terra Soya Oil for their varied healthy diets, many more will be getting ahead by making pocket friendly decisions with its new 700ml and 2.5L offer. At a time when consumers are becoming more conscious of their spending based on limited purchasing power, Golden Terra Soya oil reiterates that there is a pack for every pocket to meet their unique needs andAspreferences.youmake plans for your next market visit, remember that there is a Golden Terra Soya Oil that caters to your pocket. By choosing the new 700ml and 2.5L pack sizes, you are saying yes to edible oil that offers you heart health, affordability, value for money and 62 percent PUFA intake indicating at least 5x more PUFA than Palm Olein, thereby making it the healthiest choice for your cooking. According to Rachel Link, a registered dietitian with ussoy.org, “Soya bean oil is a common type of cooking oil that has been associated with several health benefits. It may help promote skin health, reduce cholesterol levels, prevent bone loss, and provide important omega-3 fatty acids.” As you prepare for your next meal, feed your heart 5x PUFA with Golden Terra Soya Oil, the leading soya bean oil in the Nigerian market with its increasing presence across the country. It is 100% pure soya oil, totally sourced and manufactured in Nigeria. Families and individuals that use Golden Terra Soya Oil every day enjoy heart-healthy and brain-boosting meals that enable them to drive for the optimum daily.
The report added that “overall input costs increased substantially at the start of the third quarter. The rate of inflation eased from that seen in June but was still among the quickest in the survey’s history. Underlying data revealed a quicker rise in purchase costs and slower increase in staff wages.”
Dike Onwuamaeze
THISDAY MONDAY, AUGUST 22, 2022
The Chief Enterprise Business Officer of MTN, Ms. Lynda Saint-Nwafor, who commented on the partnership, said that “having understood the need for capacity building and the positive impact of continuous learning on MSMEs, MTN has partnered with reputable learning providers to bring learning closer to MSMEs. “With these new affordable plans, data access will no longer be an impediment to learning. She added that these partnerships are testaments to MTN’s commitment to deliver the benefits of a modern connected world to businesses.” Similarly, the DirectorGeneral of SMEDAN), Mr. Wale Fasanya, noted that “this initiative will boost access to learning resources on the SME Digital Academy for micro and small businesses and greatly improve their chances of thriving.“The businesses will also receive certificates of completion endorsed by SMEDAN. He commended MTN and its technical partner Sapphital Learning, for making this available and pledged the commitment of SMEDAN towards educating, empowering, and elevating millions of MSMEs across the country.”Also,the Executive Director of FATE Foundation, Ms. Adenike Adeyemi, remarked that “this partnership will enable Nigerian entrepreneurs have fast and easy access to essential resources on the msmehub.org with tools, templates, and resources to sustain their businesses.” In the same manner, the Director, Pan-Atlantic University’s Enterprise Development Centre (EDC), Dr. Peter Bamkole, noted that the partnership was coming at the appropriate time. Bamkole stated that “offering the EDC toolkit platform to SMEs will provide them with useful information, business resources and continuous learning opportunity to grow and succeed.”
Moreover, the PMI report noted that only six per cent of Nigerian companies continued to expand their workforces in July, although the latest round of job creation softened to the weakest for seven months.
According to the Head of Equity Research West Africa at Stanbic IBTC Bank, Mr. Muyiwa Oni, the July data pointed to a robust increase in selling prices as the rate of inflation quickened from the previous survey period and was the strongest for four months with around 44 per cent of firms recording higher prices in July, which were attributed to higher material prices.”
Report: Private Sector RecordsWeak Output Growth amidst Substantial Price Increase MTN Partners SMEDAN, Pan-Atlantic University, Others to Launch Free Learning Data Bundle for MSMEs
Dike Onwuamaeze
29
Promoting Healthy Heart, Pocket-friendly Edible Oil
BUSINESSWORLD PERSPECTIVE
The MTN Nigeria Plc has launched a new learning data bundle that would enable Micro, Small and Medium Enterprises (MSMEs) to access free business capacity building content.
The PMI said: “Private sector firms operating in Nigeria registered a further increase in average prices for purchases in July. The rate of inflation accelerated from June to a four-month high and was among the steepest in the series history. Over 60 per cent of respondents recorded higher purchase prices in July compared to June. Unfavourable exchange rate movements, higher fuel costs and surging material prices were behind the latest round of inflation, according to panel comments.”
Business owners can activate the learning bundle via USSD and SMS by dialing *460*600# or sending Learn to 131 respectively. The bundle subscription is available to all MTN prepaid subscribers. The bonus data is designed to deplete with use on any of the platforms. Usage is cumulative and the offer is as low as N200 with seven-day validity.
MTN introduced the free data bundle in recognition of the benefits of knowledge and information to growing businesses and the challenge for small businesses to access these knowledge resources at scale.Itis also partnering with organisations that already provide free focused developmental content and solutions for small businesses such as the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), the FATE Foundation, Pan-Atlantic University’s Enterprise Development Centre (EDC), to provide the learning data bundle.Italso said that the learning data plan works exclusively on websites of partner organisations that currently offer free capacity building resources for MSMEs.
The Purchasing Manager Index (PMI) of the Stanbic IBTC Bank for the month of July 2022 showed that productivity and employment generated by the private sector experienced a weakened growth while purchase cost and output price inflation quickened to fourmonth high. The report said that the headline PMI rose to 53.2 in July, up from 50.9 it recorded in June, which signaled an improvement in business conditions in Nigeria’s private sector. It said: “After a marginal reduction in the previous survey period, output in the Nigerian private sector expanded during July. Although solid, the rate of growth was weaker than the long-run series average. Favourable demand conditions underpinned output growth at the start of the third quarter. Agriculture recorded the strongest uptick in output, followed by manufacturing.”
related abilities, commitments, knowledge, and skills that enable a person (or an knowledge and skills that enable someone each level of responsibility has its own period of a person’s life or at any stage of his Power Networking event in Washington DC to about two thousand successful
It is very sad indeed to see so many men and women without passion and competence occupying very sensitive positions of leadership in this country and you wonder why production and proactivity is at its lowest ebb? The very painful reality is that there are several other incompetent humans without passion, and even neutral in this life seeking for political
T U S N See page 36
Have you ever met someone who is so passionate about something, an idea, a cause, a product? What is usually your reaction? Imagine the possibilities of having leaders who are passionate about the greatness of Nigeria as well as competent individuals in all sectors of Nigeria’s experienced prosperity and transformation
Doing what you love and that which is in alignment with your purpose is what will motivate you to jump out of bed in the morning and look forward to the day than the average person because the hours are doing what you love, your passion for it is obvious to others and that makes the Whether those obstacles are actual or imagined, you overcome them and see the power of passion also enables us to have stimulates a love for life as life is led by Competence is one’s ability to hold the knowledge of the subject, tackling of the problems, exposure, the capacity to make decisions, convincing others in a proper way in addition to prescribed academic or Experience may play a secondary role if Competence is the ability to do something well, measured against a PASSION AND COMPETENCE, FOUNDATION
Competence indicates sufficiency of knowledge and skills that enable someone to act in a wide variety of situations. Because each level of responsibility has its own requirements, competence can occur in any period of a person’s life or at any stage of his or her career. A great man said, ‘The best defense against partisanship is expertise’
1THISDAY MONDAY AUGUST 22, 2022 Monday August 22, 2022 Vol 27. No 9993 www.thisdaylive.com opinion@thisdaylive.com
Secondly, I would love to see more Nigerians committed to the common good religion and tribe to vote for competent Thirdly, I would love to see the private sector passionately involved in supporting and funding competent individuals who ultimately will create the economic administration coordinate all the stakeholders responsible for organizing elections to ensure that there is free and fair I call on all ‘neutral’ Nigerians, young or old, to passionately get involved in you feel strongly enough about that you have meaning, things that interest you, and things you wish to excel at, you will have neither passion nor motivation to do of Nigeria, you will soon realize that your accomplishment lies in the transformation My last words, great people of Nigeria, you must remember, if a person does not have a purpose for waking up, sleeping Okorie is a leadership development expert spanning 27 years in the research, teaching and coaching of leadership in Africa and across the world. He is the CEO of the GOTNI Leadership Centre OF ANDPRIMATES,REPTILES,INSECTSSTATECRAFT
30
THE WANING
In response, I told him to work towards becoming so competent and excellent at what he does so that no matter how much his boss hated his face, he would still give him his due because he provided great John Gardner said, “The society which scorns excellence in plumbing because plumbing is a humble activity and tolerates shoddiness in philosophy because it is an exalted activity will have neither good never an accident; it is always the result direction and skillful execution; it represents How can we build a country without a critical mass of passionate and competent people? Nations of the world that have made great progress have understood that the secret of growing economies is putting systems in place to enable citizens discover themselves early in life so they walk the path of personal development, focusing on areas that they love and that is consistent When passionate and competent leaders wrote, “There is nothing which rots morale the feeling that those in authority do not like to see more passionate and competent people elected into positions of leadership
TUNDE OLUSUNLE argues that Nigeria has become a tragic laughing stock for global amusement RUTO’S ANCESTRY OF ‘NOT YET UHURU’
LEGACY See page 35 See page 35
The more passionate an individual is about his or her business, work, and life, the Oprah Winfrey said, “Passion shapes our opens us up to opportunities and changes
FOR SUSTAINABLE LEADERSHIP
When passionate and competent leaders are at the helm of affairs, it is easier for transformation to take place, writes LINUS OKORIE
It is the turn of the Kalenjin ethnic group to ‘eat,’ contends OKELLO OCULI EDITORIAL RAILWAY
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By the time the administration of President Muhammadu Buhari winds up on Monday May 29, 2023, it would have taken our country through every conceivable insanity and ridiculousness. Beyond the time-worn, tripodal possibilities of “the good, the bad and the ugly,” Nigerians have gone through what the iconic afrobeat musician, Fela Anikulapo Kuti, described as experiences in “craze world.” Just name it: recordabductions even under the daylight nostrils unceasing terrorism. Festering banditry, bestial butchery of hapless and innocent folks by psychopathic marauders, mindless arson, deliberate violence and vandalism, headline the manner of deathly motions our despairing people have gone through, these past 87 months. Earlier this year, “SBM Intelligence,” a Reported Killings in Nigeria” submission for 2021, put the death toll of Nigerians lost to insecurity within the period at 10,366. Nigeria’s President, Muhammadu Buhari personally received the report. The death toll was attributed to “violent incidents including attacks from Boko Haram, militia herdsmen, abductions, gang clashes and terrorism.” The same report observed that nearly one thousand security agents were killed within the period under and 642 soldiers. Tallied together, using the 2021 average, Nigeria might have lost close to 80,000 people to a miscellany of painful deaths and exterminations, under the Buhari regime. This is the manner of unimaginable waste and ruination of highly prized human capital Nigeria has can successfully drive the socio-economies of some countries elsewhere in the world. For all the boasts and bombasts of the Buhari administration in the provision of services and emplacement of infrastructure, Nigerians continue to groan beneath the multisectoral failings and failures of the administration. Universities have been on strike for six long months thus far, throwing millions of youngsters on the streets, government serially unable to reach compromises with dissenting academics. Workers in the power sector only recently granted a two-week reprieve to the government, after shutting down the national electricity grid for hours in what they described as “a warning strike.” The transportation system is in the throes of a totalRoadshutdown.travel,hitherto the preferred and most popular means of movement, is spiralling out of the reach of ordinary folks. Increasing commuting costs attributable of highway attacks in various ways, have impacted road travel adventurism in several ways. I have not, for instance, been able to brave a trip to my hometown, Isanlu in Kogi State, hitherto an oasis of sanity and serenity, viciously violated two years ago, by daredevil robbers. Attacks on segments of the national rail system which is still being developed, has compelled discontinuation of services in parts. Airlines are shutting down because of heightening operational costs. The few airlines keeping throats of air travellers, one way economy class trips now hovering around the $200 themark.highest it has been since 2005. This was when the Peoples’ Democratic Party, (PDP), the much -maligned opposition party by the ruling All Progressives Congress, diesel and kerosene, have become virtual untouchables. Nigeria’s currency, the naira, is one of the weakest and worst on the African continent. According to a survey report, the naira ranks “number 24 among the poorest currencies on the continent.” It exchanges for about N710 to the dollar in the parallel market, away from N199 to the USD, in May 2015, when the Buhari administration have repeatedly enjoined Buhari, to revert Nigeria to its situation and standing as at 2015. Amidst this very grim and disheartening scenario, Nigerians have, in staccato sequence, been subjected to the wry humour of zoological dimensions to the nation’s travails. The monumental heist, the scandalous looting, the quantum stealing which has been perpetuated at various levels, in ministries, departments and agencies under this government, have been casually explained away as atrocities perpetrated by animals of various kinds! Primates, reptiles, insects and the like, have been listed and accused as complicit and culpable in the novel rape on our commonwealth, by today’s trustees of our nation’s resources and economy. Hitherto, mindless and spontaneous incineration of sections, departments or whole organisations where mammoth thievery was committed, was the vogue. It was popular expectation in the past, that every other organisation which came under the spotlight of public scrutiny, crashed in an incendiary heap overnight. Every trace of malfeasance, therefore is safely buried beneath the ash dust and rubble of inquisition. These days, however, rapists of our communal resources have upped the ante of their atrocities. It will become expedient henceforth, for codes of conduct and ancillary regulations of public service, to accommodate minimum competence in zoology, as prerequisite for intending public servants. Dr. Olusunle, poet, journalist, author and scholar, is a Member of the Nigerian Guild of Editors
OF REPTILES, PRIMATES, INSECTS AND STATECRAFT
TUNDE OLUSUNLE argues that Nigeria has become a tragic laughing stock for global amusement RUTO’S ANCESTRY OF ‘NOT YET
UHURU’ It is the turn of the Kalenjin ethnic group to ‘eat,’ contends OKELLO OCULI
Embu and Meru elites. William Ruto came under his umbrella: the Orange Democratic Movement (ODM). In 2010 President Mwai Kibaki joined with ODM to pass into law the crowning of that ‘’restructuring’’ reform drive into a new Constitution. Raila had, thereby, answered the call to arms by his father’s shout of ‘’NOT YET UHURU’’. The 2022 election of Governors of 47 Countries manifested the plan in the 2010 Constitution to ensure balance of representation in Parliament. In KIAMBU County, for example, Kimani Wamaitangi received 348,371 votes to beat Wanaina Wa Jungle who received 237,361 votes. In contrast, LAMU County had Issa Abdullah Timamy win 24,198 votes, to beat Fahim Yasin Twaha who won a 16,054 votes. In Kisumu County, Peter Anyang Nyong’o received 319,957 votes against his opponent’s 100,600 votes. As a contrast, in WAJIR County, Ahmed Abdullahi Jiir won 35,533 against the incumbent Mohamed Abdi Muhamud winning a modest 521 votes. President Mwai Kibaki, a descendant of the MAU-MAU war, would respond to Oginga Odinga’s wrath by favouring economic development on alliance with China. In courting Euro-American backing for his election campaign, Ruto openly attacked Chinese economic presence in Kenya. It was instructive ‘’EURONEWS’’- reported only William Ruto’s election campaign news. VOA, on its part, reported that the American Government had warned its citizens to stay away from Kisumu, Raila Odinga’s home base. It was unlikely that President Barack Obama would cast an ethnic vote. A top military general had promised the American Senate a resolve to chase China out of Africa. Ruto lamented attending school on bare feet. He begged not to be judged harshly for following the familiar dictum that ‘’IT OUR TURN TO EAT’’. He did not mention that Mwalimu Julius Nyerere of Tanzania went from walking on bare feet to living an ascetic family life. He retired to a house built by the Army’s Engineering Corp as a gift despite his protests. Prof Oculi writes from Abuja William Ruto’s disputed victory in Kenya’s presidential election (of 8th August, 2022), rests on Jomo Kenyatta’s plan to create an aristocracy and his betrayal of the MAU- MAU war for retrieving land grabbed by British invaders. It also rests on Oginga Odinga’s angry declaration that Kenyatta’s rule was ‘’NOT YET UHURU’’ for land-hungry Kenyans.
Kenyatta of leading MAU- MAU warriors and threw a halo over him with detention in KAPENGURIA in far-away northern Kenya. As British troops massacred, raped, and buried alive Kikuyu communities accused of supporting the war, Kenyatta was sipping Whisky in political isolation. British propaganda vigorously painted him globally as an African warrior for freedom from colonial exploitation. Oginga Odinga fell for the falsehood and campaigned resolutely for Kenyatta’s release from detention as the symbol of independence. He rejected the Governor’s failing to heed the Governor’s warning that ‘’YOU WILL LIVE TO REGRET your decision’’.Kenyatta struck a deal with colonial in Nakuru, he proclaimed the doctrine of ‘’SUFFERING WITHOUT BITTERNESS’’. He regarded veterans of MAU MAU as vermin to be left landless and impoverished. When in 1965 China’s Foreign Minister, Chou en Lai visited Kenya and declared that ”Kenya IS ready for REVOLUTION”, Kenyatta dismissed ‘’socialist’’ Oginga Odinga from Vice Presidency: considering him as an ally of Communist China and the Soviet Union. In 1966 when it was clear that disillusioned Kikuyu voters would support Odinga’s party was banned and Kenya legally became a ‘’One Party State’’. Kenyatta replaced Odinga with Daniel arap Moi, a Kalenjin ethnic political leader. Their land was grabbed by British invaders. He was also in charge of Police and Prisons forces. Under his gaze Tom Mboya, a brilliant and charismatic Luo Secretary General of the ruling Kenya Kariuki, a personal Secretary to Kenyatta, were assassinated because of being widely considered as potential successors to an ageing Kenyatta. Moi had not only weeded out potential contenders for power, but also tutored William Ruto into the art of Kalenjin ethnic control of power and its use for acquiring property and wealth. Jomo Kenyatta had distributed land in the Rift Valley region to cooperatives by Kikuyu immigrants. The Kalenjin resented this as a case of ‘’Black Colonialism’’ replacing British land grabbers. Following the 2007/2008 post-election violence, William Ruto was accused of directing angry Kalenjin mobs to slaughter Kikuyu by Oginga Odinga’s combative slogan of ‘’NOT YET UHURU’’. Raila Odinga led a campaign to ‘’RESTRUCTURE’’ the monopoly of power within Kenyatta’s presidency and the tool for corruption by a troika of Kikuyu,
DEPUTY
DRUG ABUSE AND
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One of the non-combatants approaches to solving insecurity in Nigeria is drug law enforcement. According to the world drug ability of funds from illicit drug trade will expose the nation to more security challenge. When unaudited funds are available to non-state actors fueling insecurity in a place, it means the war against insecurity is far from won. To secure Nigeria, there is need to use system approach in the war against banditry and terrorism across the country. Going through the pages of newspapers, the news of drug and substance abuse grace the pages of our national dailies at the wake of everyday. Death caused by the victims of drug abuse is alarming and the rate at which the youths who are supposed to rescue the nation and reposition her According to the National survey on Drug Use released by the European Union, not less than 14.3 million Nigerians between ages 15-64 have used drug outside of medical need. The survey quences of another person’s drug use. This level of hypnotic drug use leads to manslaughter, burglary, rape, communal violence, amongst other ones. From the 1980s to 1999, Nigeria serves as the transit corridor clean record of this region and the naivety of its law enforcement the only concern. While Nigeria serves as the transit corridor, nabis, cocaine, heroin and marijuana. Around this time, Nigeria America and the United States. Nigeria was allegedly indicted to be the origin of drug abuse in the West Africa. In a data released in 2004, 925 people received treatment for drug addiction out of the population of 149 million Nigerians ple needing urgent medical attention and approximately three Nigerian National Drug Use Survey revealed that at least 14.3 million Nigerians are into drug. This population is more than the population of Israel and Singapore combined. Nigerians are wonderful, we are one of a kind among the human race. When we are productive, we shatter barriers and break the ceiling; be it glass or concrete. And when otherwise, we set the pace. Looking at the insecurity bedeviling the nation, drugs have been well in across the northern Nigeria. According to NDLEA, several arrests made have proved that illicit drug is fueling insecurity across Ni geria. To secure Nigeria and ensure national security and reclaim farming communities from these marauders, Nigeria must step Nigerians are expected to be more productive than ever. We need to enthrone a transformative leadership that will push the nation back to its rightful position among comity of nations. We must also leverage our 34 million hectares of arable land and bulging population to till the land and increase local food production.About 70 percent Nigeria Population (2022) - Worldometer Population of Nigeria: current, historical, and projected population, growth rate, immigration, median age, tota... of our population are able-bodied youths. In addition to putting this population into productive use, we must save this stratum of our population from criminal recruitment. Hammed Olaoluwa Jimoh, School of Vocational and Technical Education, Federal College of Education, Katsina FOOD SECURITY IN NIGERIA
For an administration that has shown remarkable interest in infrastructure development and rehabilitation as key to economic restoration, President Muhammadu Buhari’s achievements in the rail sector stood out. Even where some of the rail projects were inherited from previous administrations, their speedy completion under Buhari came as a welcome relief to the populace. In quick succession, the strategic rail link between Abuja and Kaduna and that between Lagos and Ibadan were completed and pressed into service. Soon afterwards, the long abandoned Ajaokuta-Itakpe-Warri line was put into service. The traveling public heaved a sigh of immense relief. Travel among these centers of social and economic activity witnessed a remarkable increase. A long distressed and sceptical public improved and safe travel and haulage. A hitherto moribund Nigeria Railway Corporation sprang back into life and began recording impressive revenue returns. Encouraged by the success with these newly completed rail projects, the government embarked on more ambitious rail projects. These include the controversial Kano-Maradi line to Niger Republic and a rehabilitation of the Port Harcourt - Maiduguri narrow gauge line. Of late, however, the increasing nationwide scourge of terrorism and general insecurity has forced a suspension of services along most vital rail routes. The attack, murder and mass abduction of passengers on the Abuja-Kaduna route forced a suspension of services on that route. This has been followed by similar terrorism induced suspensions along both the Lagos-Kano and AjaokutaItakpe routes. Similarly, to the surprise of the travel public, services on the lucrative Lagos-Ibadan route has national railway system has been shut down for reasons mostly of insecurity. The economic loss has been instant. The Nigeria Railway Corporation (NRC) has lost over N3 billion in revenue since the shut down on the Abuja-kaduna route alone. The losses on the other routes are still being tallied. Add to these revenue losses the indirect economic losses from the truncation of citizen economic activities tied to rail travel by passengers as well as losses on freight and haulageWorseservices.still,most of the new and revitalised rail projects were funded with loans from foreign lenders. The repayments of principals, interests and other contingent costs continue to run and pile up. This is in an economy that is, by all sensible estimates, distressed and tanking. In this induced state of suspension, railway assets will keep deteriorating as rail lines, rolling stock, stations and other ancillaries remain unused. eventual job losses will ensue in a country with nearly 40 per cent unemployment. There are other intangible but even more consequential losses. The national social and cultural integration vast geography have also been halted by the scourge of insecurity. And this is coming at a time when the nation is divided along most lines of geography, culture and inter communal proximity. As the rail system is suspended, safety of travel on our roads remains perilous and precarious. The scourge of highway kidnappings and robbery remains an ever-present headache in most parts of the country. Air travel is no credible alternative. It is elitist and expensive. All things considered, the recent losses in the nation’s rail sub sector of the economy ought to be treated as an emergency. The security of our rail routes and assets is a national security issue. It touches on the ability of the Nigerian state to protect and secure aspects of our sovereign space. It is not too much to ask the security agencies to surveil, track and escort railway tracks and activities. Our economic survival dictates it. Citizen to the forces of anarchy.
The security of our rail routes and assets is a national security issue. It touches on the ability of the Nigerian state to protect and secure aspects of our sovereign space The security agencies should secure the railway tracks
EDITORIAL
Letters to the Editor LETTERS
4 THISDAY MONDAY AUGUST 22, 2022
THE WANING RAILWAY LEGACY
Editor, Editorial Page PETER ISHAKA
T H I S D SHAKA MOMODU EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com
AY EDITOR
Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer. Email peter.ishaka@thisdaylive.com
MONDAY AUGUST 22, 2022 • THISDAY 37
The Landmark Waterview Apartments is a high-rise residential development at the heart of Victoria Island, Lagos, the fastest growing business, leisure, and lifestyle destination along the West African coast. The Landmark Waterview Apartments presents a fine opportunity to live, work and play in the heart of over 150,000sqm of ocean-front property, Lagos’ premier leisure destination.Residents will have a chance to enjoy the benefits of living in the commercial capital of Africa and retiring to the tranquillity of life by the sea-side without compromise.
HOMES38 & DESIGN
The Landmark Waterview Apartments is designed and being rendered for premium living by its promoters, Landmark Group. The tower will be raised to 28 floors on the shorelines of the Atlantic Ocean. It will be a cosy lifestyle out there. Bennett Oghifo writes
Living Luxury Life at LandmarkApartmentsWaterviewTHISDAY
MONDAY, AUGUST 22, 2022
Landmark Waterview Apartments is located along Water Corporation Road, Oniru, Lagos. It is being developed by Landmark Group, the developers of the Landmark Boulevard located along the same road. The development is surrounded by the wider Landmark village scheme, which consists of an office tower of over 20,000sqm, a retail boulevard of 8,000sqm, a 4,200sqm events centre, Hard Rock Cafe & Shiro restaurant, a four-star Renaissance Hotel by Marriott International and Marriott Executive Apartments. The 28-floor development has an estimated completion date of Q4:2024. The building will have a Gross Lettable area of 36,000sqm and have a total of 306 luxury apartments. These apartments include studio apartments, one-to-four bedroom apartments, and three and five-bedroom penthouses. Landmark Waterview Apartments offers a central leisure hub with amenities such as a gymnasium, swimming pool, children’s pool, clubhouse, games room, outdoor lounge, and children’s play area. The building offers a Grey Shell option and a customisable layout. Grey Shell (Cold Shell) is a space offered by a landlord or seller that is completely unfinished. You will generally find bare stud walls, unfinished floors, and no plumbing or electrical, but with a point of connection for sewer within the space and a space for a new electrical service within the electrical room. The space may include an HVAC unit but no ductwork or controls, and, if required by code, the sprinkler system may be installed but not dropped to finished ceiling height. The Grey Shell offering at the Landmark Waterview Apartments means the buyers can purchase the amount of space they require and still have the building’s design team work with designing to their specific requirements.LandmarkGroup has just awarded ITB Nigeria Limited the contract for the main contractor, while Ana Designs Studio Pvt. Ltd designed theLandmarkproject. Waterview Apartments is near other developments in the same area, including Empire Royale, Empire Residences 2, One Ocean and Blossom Condominiums, and Pacific Heights. Also in the neighbourhood are Four Points By Sheraton; Mobil HQ; British International School; Access Bank HQ; Zenith Bank HQ; GT Bank Centre; Palms Shopping Mall; PwC HQ; RCCG City of David; Landmark Village; KPMG HQ; Landmark Towers; American International School; and Euracare Multi-specialist Hospital, among many others.
The central bank governor assured Nigerians of the safety and scalability of the CBDC, emphasing on the journey to create a digital currency for Nigeria began in 2017. Emefiele said with growing interest in CBDC around the world, the CBN had commenced extensive study, consultations, identification of use cases, and the testing of the CBDC concept in a sandbox environment as far back as 2017, stressing that the objective of the research was to establish a compelling case for the adoption of a digital currency in the country to enable a more prosperous and inclusive economy for allHeNigerians.addedthat following the completion of the preliminary work, the researchers and experts at the CBN were able to establish that a digital currency will drive a more cashless, inclusive, and digital economy as well as complement the gains of previous policy measures and the fast-growing payment platforms. He explained that the CBN decided to implement its own CBDC and to name the digital currency eNaira, with the expectation that the innovation would make a significant positive difference to Nigeria and Nigerians. Emefiele said the eNaira would support a resilient payment ecosystem, encourage rapid financial inclusion, reduce the cost of processing cash, enable direct and transparent welfare intervention to citizens, and increase revenue and tax collection. He said eNaira would also facilitate diaspora remittances, reduce the cost of financial transactions, and improve the efficiency of payments.Emefiele added, “Therefore, the eNaira is Nigeria’s CBDC and it is the digital equivalent of the physical naira. As the tagline simply encapsulates, the eNaira is the same naira with far more possibilities. “The eNaira – like the physical naira – is a legal tender in Nigeria and a liability of the CBN. The eNaira and naira will have the same value and will always be exchanged at one naira to one eNaira.” Strenghtening the eNaira In order to realise its objectives for the
NOTE: Interested readers should continue in the online edition on www.thisdaylive.com39BUSINESS SPECIAL Editor: Obinna obinna.chima@thisdaylive.comChima08024557078 MONDAY, AUGUST 22, 2022 THISDAY
adoption of the CBDC, the apex bank had in June this year announced registration for the eNaira hackathon, which is a computer programming conference geared towards ideating innovative solutions for the newly launched digital currency.
Realising the role of digital technologies in shaping every aspect of human endeavour, particularly the country’s payment landscape, and determined to make Nigeria a financial hub in Africa, as well as become a leading player in the global digital economy, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, had unveiled a 5-year Policy Thrust of the apex bank, spanning 2019 – 2024. According to the CBN governor, one of the targets of the roadmap was to develop a “robust payments system infrastructure that will increase access to finance for all Nigerians thereby raising the financial inclusion rate in the country, and “continue to work with the Deposit Money Banks to improve access to credit for not only smallholder farmers and MSMEs but also consumer credit and mortgage facilities for bank customers”. Emefiele had also said the central bank’s intervention support would also be extended to the youth population who possess entrepreneurship skills.The CBN’s agenda is well in line with the administration of President Muhammadu Buhari to among other things develop a “thriving digital economy” to “create employment opportunities for our teeming population and support in lifting millions of Nigerians out of poverty. Through the National Digital Economy Policy and Strategy (NDEPS), Buhari, believes a digital economy will accelerate the attainment of the country’s key objectives of improving security, reducing corruption, and expanding the economy. Emefiele who recently expressed optimism that the central bank will meet the 95 per cent of adult financial inclusion target by 2024, had been spearheading the implementation of various programmes towards achieving these noble objectives set out in the five-year plan. Launch of eNaira On October 25, 2021, Buhari launched the Central Bank Digital Currency (CBDC), also known as eNaira, adding that it will boost the country’s projected Gross Domestic Product (GDP) by $29 billion in the next 10 years. The digital currency, which is the brainchild of the apex bank makes Nigeria the first country in Africa and one of the first in the world to introduce digital currency. Among other things, eNaira seeks to address some of the challenges confronting monetary authority including inflation, by reducing the amount of physical cash in circulation and drastically cutting down the cost of currency production. Limitless possibilities Right at the unveiling of eNaira, Emefiele had made it clear that the digital currency launch was not a one-off event as there would be more innovations that will emerge from its adoption for the benefit of the economy.
The Hackathon: Showcasing thebest of computer programmers Emefiele, however, pointed out the Hackathon marked another milestone in the journey toward building the future monetary system of the country in response to the emerging trends and developments in the global digital space. If anything, the event created opportunities for Nigerian youth entrepreneurs who were hitherto starved of opportunities to showcase what they could offer and created an avenue for job creation and innovation. He said, “Therefore, today’s event is targeted at providing an engagement with critical stakeholders in the financial technology space to deepen the link between eNaira and Fintechs.”Headded that the eNaira hackathon recorded a sizeable interest from young and innovative Nigerians with a total of 4,667 registrations, comprising 4,082 male and 582 female applicants. “This further corroborates the fact that Nigerians, both within and outside the country, possess innovative ideas and are willing and ready to leverage on exciting opportunities that the eNaira presents for enhancing digital financial services and contributing to national development,” he said. Emefiele said, “From the presentations made over the course of this eNaira Hackathon, I am confident that it will unravel a pool of talents that would fuel the transformation of Nigeria into a world-class digital economy and beyond.
The conference themed: “eNaira – Africa’s Gateway to a Digital Economy,” brought together teams of talented entrepreneurs, developers, designers, solution developers, problem-solvers, out-of-the-box thinkers, and code magicians from Africa to develop innovative solutions that would drive improved adoption of the eNaira. Emefiele, on the innovation in Nigeria’s payments system ecosystem, CBN Governor, Mr. Godwin Emefiele said, “We cannot deny the fact that the newly introduced CBDC (eNaira) would be necessary in the future to ensure Nigeria is competitive as the world becomes increasingly digital. “We have seen in the past few years how digital currencies have opened international economies to individuals who wield them and how seamless they have made trading, buying, investing and other economic activities.” He said, “We desire to achieve this and more with the eNaira with the underlying goal to boost Nigeria’s economic outlook. Innovators at the hackathon will develop solutions in the areas of international remittance, trans-border payment, blockchain, financial inclusion, and trade (AfCTFA).”
He said described eNaira as timely and strategic in complementing the various diversification and digitisation initiatives of the federal government including the launch of the Nigeria Digital Economy Policy and Strategy (NDEPS), the National Broadband Strategy, as well as the introduction of the Start-Up Bill and a host of others. Emefiele said the“CBDCs can also help increase remittances, foster cross border trade, improve financial inclusion, make monetary policy more effective, and enable the government to send direct payments to citizens eligible for specific welfare programmes.”
The event, organised by Africa Fintech Foundry, is an innovative hub established to identify and accelerate innovative startups in Africa in partnership with the central bank. This was a conscious move by the bank efforts to drive financial inclusion, facilitate macroeconomic growth and integrate the Nigerian economy into the world’s leading economies through innovation and cutting-edge emerging technologies.
e-Naira as Fulcrum for Financial Inclusion
eNaira’s popularity There’s no doubt, that the introduction of the CBDC has received a warm embrace by stakeholders and Nigerians in general because of the immense opportunities and belief in theAproduct.cheerful Emefiele, at the opening of the Grand Finale of the eNaira Hackathon in Abuja, hinted that eNaira had recorded over 200,000 transaction volumes valued at N4 billion since the platform was launched by Buhari in October 2021. The CBN governor also said effective this week, Nigerians, both banked and unbanked, will be able to open an eNaira wallet and conduct transactions by simply dialing the Unstructured Supplementary Service Data code (USSD) *997# from their phones. According to him, since the launch of the great initiative, the eNaira had reached 840,000 downloads, with about 270,000 active wallets comprising over 252,000 consumer wallets and 17,000 merchant wallets. He said both merchants and consumers with bank accounts can use the NIBSS Instant Payment (NIP) to transfer and receive eNaira to any bank account, adding that this will further deepen the integration of the eNaira with the existing national payment infrastructure. Imminent end to cash transaction Because of the attachment to paper money, not everybody believes that any other innovation will one day replace the use of money. However, digitisation of almost everything is forcing a rethink in this aspect. But according to Emefiele, the world is now in digital dispensation and the use of cash will soon dissipate to zero as digitisation become part of human lives. This was reechoed by CBN Deputy Governor, Economic Policy Directorate, Dr. Kingsley Obiora, who said the value of e-business transactions had grown from N39.3billion in 2014 to currently about N2.4 trillion.
James Emejo writes that the central bank’s aggressive interventions in developing the digital payment infrastructure will fast-track financial inclusion in the country, provide jobs as well as funding opportunities for tech-savvy Nigerian youths, among others
Taking Digital Currencies Offline
Emefiele John Kiff In many regions, internet-free access may be a make-or-break feature for central bank digital currencies. As the world’s central banks rush to develop digital currencies, almost all the research and trials focus on internet-based technology. What will happen when the web goes down in a war or a natural disaster? And what about the 75 percent of the world’s adult low-income population that doesn’t even have internet access (World Bank FindexThat’sDatabase)?wherealittle-noticed but long-running push to develop offline digital payment systems comes in. Some of this work goes back 30 years, to a time long before smartphones. In fact, the future of offline central bank digital currencies (CBDCs) may lie in the technological past. But wait. Why do central banks in developing economies like Ghana or Uruguay want to give people some fancy digital currency to replace their cedis or pesos? There are several compelling reasons. One is better risk management as digital currencies may be harder to steal than bales of paper money. Much of the world’s consumer commerce already takes place digitally—well over 90 percent of it in places like China and Sweden. Central banks don’t want to leave billions of transactions in the hands of internet payment platform operators. And it’s an issue of financial inclusion for millions of people who can’t afford to use the conventional banking system or don’t have internet access. Offline digital payment systems could verify availability of funds and validate transactions without the need to check in with an online ledger. They could use old-tech, non-internet-driven mobile phones or something like a souped-up stored-value card. Back in 1993, the Bank of Finland launched its Avant stored-value card. It was capable of offline payments using a custom-made card reader device, but it never caught on and was dropped in 2006. National Westminster Bank in the United Kingdom tested a similar stored-value payment platform called Mondex in 1995. Avant and Mondex showed that the technology worked, but not enough merchants acquired the required point-of-sale devices. And even though both allowed peer-to-peer transactions, users had to access it through specialRecently,devices.several enterprises have launched updated versions of the Avant and Mondex concepts that are capable of handling offline payments. Users send and receive funds by exchanging multi-digit authorisation codes, either manually or using near-field communication (NFC) connections. Some require intermediary devices such as mobile phones or online connections to fully settle transactions, but that is to keep the device costs down and eliminate the need for internal battery power. For example, the 170-year-old German banknote company Giesecke+Devrient is testing an offline CBDC platform with the Bank of Ghana based on a stored-value card. It is configured to allow for unlimited consecutive offline transactions but uses an intermediary device. The eCedi can be used by anyone with either a digital wallet app or a contactless smart card that can be used offline. The People’s Bank of China has reportedly been experimenting with similar hardware wallets as part of its trials of the digital yuan.
Adefemi Adegoke Nigerians woke up recently to observe that the naira, which had persistently experienced a slide downwards, was becoming punch drunk in the face of the onslaught of the dollar and indeed, other international currencies including the once derided CFA used by our Francophone neighbours. It was exceedingly disturbing that the national currency could go as low as N710 to the dollar though it is beginning to regain its weight in value. But that momentary drastic loss of value affected almost every other national index of economic activity including energy prices, cost of food items and transportation especially the aviation sector. Within that period, economic analysts including the type that participated in the Babangida era International Monetary Fund (IMF) debate of the 1980s that midwifed the structural Adjustment Programme (SAP), in their views, mourned the demise of the nation’s currency and its implication for the welfare of Nigerians. A lot of arguments were put forward, some informed, others down right pedestrian as to what was the main issues that are impinging on the exchange rate. It was a period of blame game that added very little insight into what was wrong and what could possibly be done to restore the lost glory of the currency that once exchanged one on one to the Pound and one to 85 cents. In the ensuing hoopla, all eyes were on the Central Bank of Nigeria (CBN) as the institution that makes policies that regulate and control the operations of the foreign exchange market and ensure financial system stability. There was an attempt to ignore the fact that foreign currencies of whatever denomination are earned through productive endeavours. This part of the argument makes it pertinent to put the whole discourse on the nation’s foreign exchange policy vis- a-vis the value of the naira in its proper perspective. The inexorable fact is that not much of productive capacity is going on to the extent of being a major foreign exchange earner. Nigeria is still, to a large extent, a mono-cultural economy heavily dependent on the proceeds from oil and gas. With the criminals invading the oil sector and stealing what is produced to an estimated level of 80 per cent, and even with the high price per barrel of the commodity in the international market, that sector, as a reliable source of foreign exchange, is becoming suspect. An oil major, Shell Petroleum, said that much recently. Based on this understanding, I am compelled to recall that the present management of the apex bank’s decision when it came into office and initiated a policy of economic diversification intended to broaden and expand the nation’s foreign exchange earnings.Theimplementation of the policy led to the reactivation of the agricultural sector as an indispensable part of the country’s economic production activity. The Anchor Borrowers Programme (ABP) and the policy of agro-business resuscitated that once dormant sector. The policy, also, was extended to 43 items which were banned from having access to the nation’s official foreign exchange window. Soon after, the Bureaux de change (BDCs), known in the local parlance as the black market, came under the CBN’s hammer all geared towards preserving the scarce foreign exchange and making sure that what is available is judiciously deployed. The CBN also beamed its searchlight on the non-oil sector such as solid minerals and the infusion of funds into the real sector to enhance the country’s production capacity aimed at ensuring that the country imports only essentials that will promote local production. While the apex bank was putting in these efforts, there are areas that are not so sufficiently productive but which are heavily foreign exchange guzzlers. Those segments of the market are so attractive and are making the whole plan to stabilise the foreign exchange application and use look like a child’s play, and almost uncontrollable. A review of the Central Bank of Nigeria’s (CBN) data suggests that Nigeria’s educational sector has suffered massive capital flight in the last 10 years. Specifically, using the CBN’s balance of payment statistics, Nigerians have spent a hefty sum of $28.65 billion on foreign education in the past 10 years (2010 to 2020). This humongous sum is sourced from the official foreign exchange window. To compound the woes of the CBN and by extension the economy of the nation, most of the applications for this money are fake and the proceeds are round-tripped in the black market. It is a highly lucrative business. Also, it is estimated that Nigeria loses about $1.3 billion to medical tourism yearly, which has caused a huge burden on the nation’s economy. As if this is not disappointing enough, the black market is thriving exponentially to the point that it dictates the foreign exchange market. Now, as 2023 election comes closer, politicians are mopping up all the foreign currencies in the market place and warehousing same for campaigns. A bit of that was seen during the parties’ primaries. These are not production processes and they are certainly beyond the control of the CBN even if they are hurting the economy and making the task of financial system stability a lot more arduous. At the risk of being accused of holding brief for the apex bank or, for that matter, playing the advocate role for the institution, it is necessary to point out that the Central Bank of Nigeria has consistently made its case crystal clear that it does not print dollar or any foreign currency for that matter. It has also argued that without an improved productive capacity designed to generate an inflow of foreign exchange through Direct Foreign Investment (DFI), the value of the local currency will continue to be at the mercy of the vagaries in the marketplace. These are incontrovertible facts. Some informed opinion in the public space which I share is of the view that as a way out, the government through the CBN should, as a matter of urgency, stop subsidising health and education bills incurred by the perceived fat cats in the society. I buy the argument that these two parasitic activities in the foreign exchange market should be added to the list of the 43 banned items. I consider it pertinent also that the CBN should effectively tighten its noose on the BDCs and other speculators creating the challenges the system is facing. There is no gainsaying it that they are constituting an economic nuisance and, invariably, making life difficult for genuine foreign exchange users and by extension the rest of the society. I am convinced that these drastic measures, if adopted and implemented, can conserve foreign exchange and shore up the value of the Naira. All that is required, in my view, is the political will on the part of the government to encourage the CBN to do what it has to do. That is the crux of the matter.
The cost of some of these devices may put them out of practical reach for many people. For example, the fintech company WhisperCash offers a sophisticated battery-powered creditcard-sized device for conducting digital currency transactions that costs about $70. But the company has also rolled out an offline platform that piggybacks on text-based, non-internet-enabled mobile phones. Known as “feature phones,” they can be had for as little as $5. The WhisperCash system involves a $2 device that’s attached to the phone’s SIM card. Even in low-income countries, 66 percent of adults own at least such a phone. In 2017–18 the Central Bank of Uruguay conducted a successful six-month test of a CBDC that users could access using feature phones (Sarmiento 2022). Offline devices typically rely on tamperresistant hardware to maintain integrity. Policy constraints, like limits on transaction amounts and balances, need to be protected because modifying them could allow the misuse of funds. Such limits also play a role in enforcing financial integrity regulations. On-device analytics or periodic synchronisation with a trusted verification service could be used to allow identification of suspicious transactions.TheBank of Canada is exploring such universal access devices intended to incorporate attributes of cash and prevent the interruption of digital transactions in case of an infrastructure failure. In its exploratory work on a digital euro, the European Central Bank is considering offlineWhetherfunctionality.anyofthese ideas will go into full operation is an open question, but it does seem that in many regions offline access may be a make-or-break feature for central bank digital currencies.
Beyond
Naira Depreciation 40 BUSINESS SPECIAL ANALYSIS THISDAY MONDAY, AUGUST 22, 2022
Also commenting on the World Finance Banking Awards 2022 and World Finance Corporate Governance awards, Onyeagwu said: “These awards reflect our strong business fundamentals, resilience and ability to adapt to the ever-changing dynamics of the market through our innovative solutions, as well as our commitment to global best practices. “As a member and signatory to various domestic and international sustainability frameworks including the United Nations Global Compact (UNGC) and the Central Bank of Nigeria Sustainable Banking Principles, we continue to support the achievement of the Sustainable Development Goals (SDGs) by creating value for our shareholders, customers, clients, investors, communities and the environment through our practices, operations and investments.”
As a reflection of its strength, Zenith Bank Plc was recently ranked as the number one bank in Nigeria by tier-1 capital in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine. In the award which was for the 13th consecutive year, the bank retained its position as the number one tier-1 bank in Nigeria with a tier-1 capital of $2.75 billion, emerging as the 460th bank globally. The ranking, which was published in the July 2022 edition of The Banker Magazine of the Financial Times Group, United Kingdom, was based on the 2021 year-end Tier-1 capital of banks globally. Tier 1 capital describes capital adequacy which is the core measure of a bank’s financial strength from a regulator’s point of view. According to the ranking, tier 1 capital, as defined by the latest Bank for International Settlements (BIS) guidelines, includes lossabsorbing capital, i.e. common stock, disclosed reserves, retained earnings and minority interests in the equity of subsidiaries that are less than wholly owned. Prior to that, Zenith Bank had also emerged as the Best Commercial Bank, Nigeria, at the World Finance Banking Awards 2022, as it retained the award for a second consecutive year. The bank was also named as the Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022. The awards, which were presented to the Group Managing Director/Chief Executive of Zenith Bank Plc, Mr. Ebenener Onyeagwu at the London Stock Exchange, were in recognition of the bank’s ability to embrace digital transformation and best-in-class sustainability and corporate governance practices, leading to a stellar business performance in a difficult economic climate Also, Zenith Bank’s financial performance for the year was underpinned by double-digit growth of 10 per cent in gross earnings, with an improved market share in both retail and corporate sectors despite a very challenging macroeconomic environment aggravated by the COVID-19 pandemic. Despite the very challenging macroeconomic environment brought about by the COVID-19 pandemic, which had a significant deleterious impact on businesses globally, Onyeagwu, who leads the bank has demonstrated that he has a midas touch considering the strong financial performance the bank continues to churn out. Rated on key parameters such as asset quality, profitability and return to investors, Zenith Bank’s track record has been impressive. Under the leadership of Onyeagwu, the bank has remained a clear market leader, growing its total assets and net income by an annual average of 15.7 per cent and 15.5 per cent, respectively, over the last five years.
41 BUSINESS SPECIAL ANALYSIS
Commenting on the 2022 Top 1000 World Banks’ Ranking, Onyeagwu, the Group Managing Director of Zenith Bank said: “This ranking is a testament to our resilience and doggedness as an institution despite economic headwinds and a persistent challenging macroeconomic environment. “Indeed, being ranked as the number one bank in Nigeria by tier-1 capital for the 13th year in a row underscores our commitment to sustaining the superior performance we are renowned for and creating value for our highly esteemed customers.”Heexpressed appreciation to the Founder and Chairman of Zenith Bank Plc, Jim Ovia, for his guidance and for laying the foundation and building the structures of an enduring and successful institution; the board for the outstanding leadership they provide; the staff, whose drive and commitment sustains the exceptional performance; and the bank’s customers for their unflinching loyalty to the Zenith brand.
Onyeagwu Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020 and emerged winner in four categories at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa. The bank places a premium on its core business strategy anchored on people, technology and service, to create value for its numerous clientele. With a team of dedicated professionals, the bank leverages its robust Information and Communication Technology (ICT) infrastructure to provide cutting-edge solutions and products through its network of branches and electronic/digital channels.
Promoting Non-oil Exportsthrough Zenith Bank Int’lTrade Seminar In addition, Zenith Bank has remained committed to promoting the non-oil export sector in Nigeria by identifying emerging opportunities which help stimulate nonoil exports and develop robust financial products and incentives for operators in the sector. It restated its commitment to the sector when it brought stakeholders together at its seventh annual edition of the Zenith Bank International Trade Seminar with the theme: “Unlocking Opportunities in Nigeria’s Non-Oil Export Business,” which held recently in Lagos. Stakeholders at the seminar unanimously called for support of Nigeria’s non-oil export sector at the The bank launched the non-oil export seminar in 2017, as an initiative to deepen the discourse on promoting the non-oil export business in Nigeria. In his welcome address, Onyeagwu, said the annual Zenith Bank Trade Seminar serves as a veritable platform to deepen the conversation on promoting non-oil export in Nigeria, bringing together non-oil export practitioners and relevant government agencies to interact and explore the opportunities and proffer solutions to the challenges of non-oil export in the country.
MONDAY, AUGUST 22, 2022 THISDAY
As Zenith Bank Maintains Industry Leadership
Zenith Bank Plc under Ebenezer Onyeagwu has maintained a positive rating as can be seen from the numerous awards and global recognitions the bank continues to attract, writes Oluchi Chibuzor
Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with this latest accolade coming on the heels of several recognitions, including being recognised as the Best Bank in Nigeria for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance ‘Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards; and Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020. Also, the Bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.
Speaking on the origin of the Zenith Bank Annual International Trade Seminar, Onyeagwu said the commodity price slump of 2014-2016 was a watershed moment. According to him, “when crude oil prices plummeted from $114.55 per barrel in June 2014 to $28.76 in January 2016, with an attendant effect on the availability of foreign exchange, it was time to look towards the non-oil export sector for a more sustainable source of foreign exchange that is not susceptible to external shocks and price volatility.” Highlighting some of the salient outcomes of the past six Zenith Bank Annual International Trade Seminar editions, Onyeagwu noted that previous editions’ outcomes have found expression and influenced policy initiatives. For instance, “the extension of the period of repatriation of non-oil export proceeds from 90 days to 180 days and the policy mandating shippers not to carry export without a Nigeria Export Proceeds (NXP) Form Number were recommendations from previous seminars. “Also, the need to incentivise exporters to repatriate their export proceeds through the official channels and the recommendation to create export terminals across various export hubs in the country were also from past seminars. “Also, previous editions recommended having Export Desks in commercial banks, which has now been instituted.” He also stated that Zenith Bank has trained over 100 exporters through its ‘Zero to Hero’ programmes which provide a platform for grooming and exposing beginners to become strong exporters by providing training on documentation, product sourcing, access to market and financing. He noted that Zenith Bank would continue the advocacy of promoting non-oil export. In his goodwill message, Ovia called for a concerted effort towards diversifying Nigeria’s export base through the promotion of non-oil exports.Highlighting the importance of non-oil export to the nation’s economy, Ovia pointed out that Nigeria exported cocoa and several other non-oil products for years before oil wasHediscovered.citedtheexample of the 25-storey Cocoa House in Ibadan, which was built with proceeds from cocoa exports. He pointed out that many countries in the world, such as Japan and China have been successful because they are doing a great deal of innovation, production and manufacturing of goods and services. According to him, Nigeria should also look at promoting the nation’s non-oil export sector through technology to create technological giants like Apple, Tesla, and Google. “And we already have technology companies in this mould in Nigeria, such as Flutterwave, which has a valuation of $3 billion, making it more valuable than some banks in Nigeria,” he said. Speaking further on the enormous potential in Nigeria’s non-oil sector, Ovia highlighted the phenomenal growth of Nigeria’s emerging financial technology (Fintech) companies such as Flutherwave, OPay, Interswitch, Kuda and Paystack, with market valuations of $3 billion, $2 billion, $1 billion, $500 million, $200 million, respectively. According to him, this underscores the enormous opportunity in the Fintech space. He also noted that the most capitalised companies in the world, such as Apple, Microsoft, Alphabet (Google), Amazon, Tesla, Visa, etc., are not oil companies but are in the technological innovation space. Clearly, as a bank driven by innovation, it is expected that Zenith Bank would continue to win more laurels and deliver superior services to its customers and value to shareholders.
L-R: Managing Director of Lasaco Assurance Plc, Mr Razak Abiodun; Chairman of the company, Mrs. Teju Phillips; Company Secretary, Gertrude Olutekunbi and a Director, Sanni Ndanusa at the 42nd Annual General Meeting of the Company held in Lagos...recently
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).
Old Mutual Nigeria Launches Digital Platform for Insurance Brokers
As part of its commitment to give Nigerians easy access to insurance products, the Nigerian subsidiary of Old Mutual Limited (OML), has launched a bespoke online platform for brokers, one of the most critical stakeholder groups in the onboarding of insurance customers. The Managing Director, Old Mutual Nigeria, Olalekan Oyinlade speaking on the production said the innovative digital platform would ensure online service delivery to the insurance brokers adding that it was seamless and convenient, thereby engendering a rich engagement experience for theirAccordingcustomers.toOyinlade, with the platform, brokers can market Old Mutual’s Life Insurance policies, such as Group Life and Credit Life policies and other General Insurance Policies such as Motor, Fire, Burglary & Marine insurance policies. He said in addition, brokers could lodge claims for all products’ Life and General Insurance policies with the required documentation to allow for a seamless, end-to-end interaction on the platform. The company further said to make payments; brokers who had independently registered on the platform could leverage the robust payment solutions provided by Paystack, one of the globally acclaimed payment merchants in Africa. Oyinlade, said the platform was targeted at increasing the accessibility of its insurance solutions to help Nigerians achieve a better and more fulfilling future. “We are proud to introduce this customised platform built specifically for our all-important brokers to encourage and enable access to our range of insurance products for their various customers who require the insurance solutions for a better financially rewarding lifestyle.
Linkage Assurance Returns to Profitability
Underwriting firm, Linkage Assurance Plc, said it has successfully returned to strong profitability in half year 2022 despite the challenging business environment. The company in a statement to the Nigerian Stock Exchange Limited (NGX) and shareholders on the unaudited result for the second quarter ended 30th June 2022 said it recorded a profit before tax (PBT) of N1.465 billion from a loss position of N2.111 billion the same period last year. Its profit after tax (PAT) also moved in similar direction closing at N1.392 billion at the end of June 2022, as against N2.090 billion loss same period in 2021. In a statement signed by the chairman of the board, Daniel Braie, Managing Director/CEO and Emmanuel Otitolaiye, Chief Financial Officer, Linkage Assurance recorded a gross premium written of N8.303 billion in the review period from N6.952 billion in the previous year. During the review period, the company also recorded a net underwriting income of N3.515 billion from N2.703 billion in 2021, while the underwriting profit stood strong at N231.28 million from a loss position of N1.027Growthbillion.in underwriting profit according to the company was attributed to quality risks management and prudence in risks selection, even as it continues to meet its claims obligation promptly to her esteemed customers. The underwriter during the period paid out N1.422 billion on claims to her numerous customers that suffered one form of loss or the other during the half year period, from N3.989 billion the previous period.
The Assistant General Secretary of the Lagos State Association of Professional Plumbers, Mr. Taiwo Igbayisanmi, has said artisans need to leverage technology in their service delivery and wealth creation for their skills. Addressing a group of young artisans in Lagos recently, Igbayisanmi said it is crucial for the artisans to get exposed to technology and maximise its benefits if they must remain relevant in business.According to Igbayisanmi, newer technologies are released into the market daily to enable faster and better service delivery, and unless the artisans are deliberate in their search for these technologies, they will remain stuck to the old ways of service delivery and deprive themselves of good earnings for their services. Igbayinsanmi further said there are various apps that can also enable their businesses and advised artisans to search for information. The Plumbing Association Executive said an app such as Clickafix has since its inception been transforming the way businesses are conducted in the informal sector by creating a platform that connects artisans and their customers. He said artisans already enrolled on the app are getting business from customers they never knew about and are getting well paid. On Clickafix are hundreds of artisans such as electricians, plumbers, carpenters, and technicians for generators, refrigerators, air conditioning, and other home appliances. Clickafix also offers home cleaning and fumigation forconversantthathim,ofandwhoforward-thinkingClickafixAccordingservices.toIgbayisanmi,isanappforartisansaretiredofbeingidlewanttomakethemosttheirtime.AccordingtoClickafixisatechnologyeveryartisanshouldbewithandleveragetheirbusinesses.
OPEC DAILY BASKET PRICE AS AT THURSDAY, MAY 7
BUSINESS/ MONEYGUIDE SEC Sustains Pressure on FG to Remove Corporate BondsTax MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) JUNE 2022 Money Supply (M3) 48,865,823.53 -- CBN Bills Held by Money Holding Sectors 167,956.2 Money Supply (M2) 48,797,867.32 -- Quasi Money 28,405,330.1 -- Narrow Money (M1) 20,392,537.22 ---- Currency Outside Banks 2,722,785.91 ---- Demand Deposits 17,669,751.32 Net Foreign Assets (NFA) 6,242,394.29 Net Domestic Assets(NDA) 42,623,429.24 -- Net Domestic Credit (NDC) 57,267,178.05 ---- Credit to Government (Net) 17,996,690.06 ---- Memo: Credit to Govt. (Net) less FMA 0.00 ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 ---- Credit to Private Sector (CPS) 39,270,488 --Other Assets Net 5,566,430 Reserve Money (Base Money 11,320,304 --Currency in Circulation 3,259,269.15 --Banks Reserves 11,320,303.72 --Special Intervention Reserves 384,377.56 Money Market Indicators (in Percentage) MonthJune 2022 Inter-Bank Call Rate 11.10 Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR) 13.00 Treasury Bill Rate 2.45 Savings Deposit Rate 1.38 1 Month Deposit Rate 3.48 3 Months Deposit Rate 4.55 6 Months Deposit Rate 4.97 12 Months Deposit Rate 5.30 Prime Lending rate 12.29 Maximum Lending Rate 27.61 42 THISDAY AUGUST 22, 2022 Kayode Tokede The Securities and Exchange Commission (SEC) has said that it is engaging with the federal government to reconsider the exemption of tax on corporate bonds and short-term securities. The federal government had on January 2022 commenced the collection of income tax on bonds, short-term securities, following the expiration of a 2012 gazette, which exempted Companies Income Tax (CIT) from bonds and short-term securities in the last 10 Speakingyears.at a virtual meeting with journalists on the outcome of the second Capital Market Committee (CMC) meeting in 2022, the Director-General of SEC, Yuguda Lamido, stated that the commission is still engaging with the Honourable Minister of Finance, Budget and National Planning on the request for tax exemption on corporate bonds and short-term securities. According to him, “We believe that tax exemption should return to the capital market. Stakeholders also agree with this. Therefore, the commission continues its engagement with the Honourable Minister of Finance, Budget and National Planning on the request for tax exemption for corporate bonds.”Onits impact on the corporate bonds transactions, Lamido noted that tax, among others are key considering factors to invest in any asset classes. He explained that, “Tax is only one part of considerations in investing in any asset classes. Although it is only one, it is also an important concentration, especially when the tax rate is actually high. “So, I think for now, given other considerations like liquidity, return on investment, risk, among others, it is very premature to start to draw inferences in terms of whether the decline or increase, actually has something to do with tax rebating. Tax is a very important of the process and why we believe the tax rebate should be restated. The market also believed in tax exemption on corporate bonds and we are working with tax and fiscal authorities to advocate for its return to the status quo.” He said that the commission would sanction Capital Market Operators (CMOs) that are frustrating the electronic dividend mandate process while pleading with investors to try and mandate their accounts. He disclosed that SEC is working to ensure it reduces the level of unclaimed dividends to zero per cent in the financial market even despite the country’s unclaimed dividend currently standing at N177 billion.
Artisans Advised to Leverage Technology for Wealth Creation
MAIN BOARDDEALS
Kayode Tokede The stock market segment of the Nigerian Exchange Limited (NGX) depreciated by N158billion on its Week-on-Week (WoW) performance in market capitalisation over investors profit-taking in Okouoil Plc, Accesscorp Plc, among others. The dropped in market capitalisation to N26.629 trillion from N26.787 reflected bearish sentiments persisted for the second consecutive week. Accordingly, the NGX AllShare Index shed 0.6per cent WoW to close at 49,370.62 basis points. Particularly, investors profit-taking in Okomu Oil that dropped by 10 per cent, Accesscorp that declined by 5.7 per cent and Lafarge Africa down by 10 per cent, drove the weekly market Consequently,declinethe stock market Month-till-Date (MTD) loss increased to negative two per cent, while the Year-till-Date (YTD) gain moderated to 15.6per cent.Likewise, activity levels mirrored the overall market broad gauge, as trading volume and value declined by 45.5per cent WoW and 9.7per cent WoW, respectively.Sectoralperformance was mixed, as the Banking (+0.7per cent), Consumer Goods (+3.0 per cent), and Industrial Goods (+0.3 per cent) indices advanced, while the Insurance (-1.4 per cent) and Oil and Gas (-0.9 per cent) indices declined. According to analysts at Cordros Research, “We expect market performance to remain mixed in the coming week as investors rotate their portfolios towards stocks with attractive dividend yields, which could be matched by intermittent profit-taking“Notwithstanding,activities.we advise investors to take positions in FOR SECURITIES TRADED AS OF 18 /8/2022
MARKETPRICE QUANTITYTRADED VALUE TRADED(N)
MARKETPRICE QUANTITYTRADED VALUE TRADED(N)
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PRICES
Stock Market Down N158bn on Profit-taking in O komu Oil, Others
only fundamentally justified stocks as the weak macro story remains a significant headwind for corporate earnings.” However, the weekly market report of the NGX stated that a total turnover of 823.005 million shares worth N12.228 billion in 17,482 deals was traded last week by investors on the floor of the Exchange The report stated that, “the Financial Services Industry (measured by volume) led the activity chart with 561.683 million shares valued at N5.576 billion traded in 8,388 deals; thus contributing 68.25 per cent and 45.60per cent to the total equity turnover volume and value respectively. “The ICT Industry followed with 91.819 million shares worth N1.478 billion in 1,532 deals. The third place was the Consumer Goods Industry, with a turnover of 42.546 million shares worth N3.396 billion in 2,639 deals.”
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.
Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund NameBid PriceOffer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 7.99% Emerging Africa Bond Fund 1.03 1.03 8.75% Emerging Africa Balanced Diversity Fund 1.03 1.03 3.24% Emerging Africa Eurobond Fund 103.05 103.05 1.93%
FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS Coral Balanced Fund 4,045.84 4,099.80 6.45% Coral Income Fund 3,603.67 3,603.67 6.19% Coral Money Market Fund 100.00 100.00 10.16% FSDH Dollar Fund 1.11 1.11 4.01% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund NameBid PriceOffer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 8.04% Vantage Balanced Fund 2.90 2.95 1.36% Vantage Guaranteed Income Fund 1.00 1.00 6.00% Kedari Investment Fund (KIF) 142.22 142.22 3.81% Vantage Equity Income Fund (VEIF) - June Year End 1.25 1.29 3.05% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 0.66% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund NameBid PriceOffer Price Yield / T-Rtn Lotus Halal Investment Fund 1.59 1.62 12.31% Lotus Halal Fixed Income Fund 1,163.66 1,163.66 6.00% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund NameBid PriceOffer Price Yield / T-Rtn Meristem Equity Market Fund 12.16 12.22 11.50% Meristem Money Market Fund 10.00 10.00 9.61% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund NameBid PriceOffer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.92 101.92 9.61% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.17% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund NameBid PriceOffer Price Yield / T-Rtn PACAM Balanced Fund 1.65 1.68 4.54% PACAM Fixed Income Fund 11.78 11.81 5.26% PACAM Money Market Fund 10.00 10.00 7.25% PACAM Equity Fund 1.45 1.46 1.44% PACAM EuroBond Fund 117.30 120.23 2.81% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund NameBid PriceOffer Price Yield / T-Rtn SCM Capital Frontier Fund 130.04 132.63 4.74% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund NameBid PriceOffer Price Yield / T-Rtn SFS Fixed Income Fund 1.05 1.05 9.25% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund NameBid PriceOffer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,570.77 3,607.72 5.46% Stanbic IBTC Bond Fund 240.94 240.94 2.28% Stanbic IBTC Ethical Fund 1.41 1.43 12.70% Stanbic IBTC Guaranteed Investment Fund 324.57 324.57 3.65% Stanbic IBTC Iman Fund 258.58 262.98 10.98% Stanbic IBTC Money Market Fund 1.00 1.00 7.07% Stanbic IBTC Nigerian Equity Fund 11,701.96 11,867.65 7.29% Stanbic IBTC Dollar Fund (USD) 1.33 1.33 3.20% Stanbic IBTC Shariah Fixed Income Fund 119.41 119.41 2.14% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 111.46 111.46 4.77% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund NameBid PriceOffer Price Yield / T-Rtn United Capital Equity Fund 0.96 0.98 7.98% United Capital Balanced Fund 1.34 1.35 2.42% United Capital Wealth for Women Fund 1.14 1.15 9.88% United Capital Sukuk Fund 1.07 1.07 4.53% United Capital Fixed Income Fund 1.91 1.91 4.00% United Capital Eurobond Fund 122.73 122.73 3.60% United Capital Money Market Fund 1.00 1.00 9.90% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund NameBid PriceOffer Price Yield / T-Rtn Zenith Balanced Strategy Fund N/AN/AN/A Zenith ESG Impact Fund N/AN/AN/A Zenith Income Fund N/AN/AN/A Zenith Money Market Fund N/AN/AN/A VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid PriceOffer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.81 3.91 -4.86% Vetiva Consumer Goods Exchange Traded Fund5.97 6.07 2.09% Vetiva Griffin 30 Exchange Traded Fund17.95 18.15 1.49% Vetiva Money Market Fund1.00 1.00 7.80% Vetiva Industrial Goods Exchange Traded Fund18.44 18.64 -7.69% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund147.67 149.67 -6.36% REITS Fund Name NAV Per Share Yield / T-Rtn SFS REIT 117.96 4.16% Union Homes REIT51.82 1.90% EXCHANGE TRADED FUNDS Fund Name Bid PriceOffer Price Yield / T-Rtn Lotus Halal Equity Exchange Traded Fund 14.31 14.41 2.29% SIAML Pension ETF 40 133.11 136.37 4.68% Stanbic IBTC ETF 30 Fund101.99 104.16 2.21% MERGROWTH ETF16.40 16.50 -3.83% MERVALUE ETF17.10 17.20 18.76% INFRASTRUCTURE FUND Fund Name NAV Per Share Yield / T-Rtn Chapel Hill Denham Nigeria Infrastructure Debt Fund 107.59 0.00% info@anchoriaam.com MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund NameBid PriceOffer Price Yield / T-Rtn Afrinvest Equity Fund N/AN/AN/A Afrinvest Plutus Fund N/AN/AN/A Nigeria International Debt Fund N/AN/AN/A Afrinvest Dollar Fund N/AN/AN/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund NameBid PriceOffer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 8.72% AIICO Balanced Fund 3.68 3.74 7.99% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund NameBid PriceOffer PriceYield / T-Rtn Anchoria Money Market 100.00 100.00 5.55% Anchoria Equity Fund 139.26 140.84 0.01% Anchoria Fixed Income Fund 1.18 1.18 3.16% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund NameBid PriceOffer Price Yield / T-Rtn ARM Aggressive Growth Fund 21.15 21.79 4.26% ARM Discovery Balanced Fund 506.37 521.63 12.24% ARM Ethical Fund 42.38 43.66 8.79% ARM Eurobond Fund ($) 1.08 1.08 -0.08% ARM Fixed Income Fund 1.06 1.06 4.07% ARM Money Market Fund 1.00 1.00 8.35% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund NameBid PriceOffer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 92.0192.01-4.90% AVA GAM Fixed Income Dollar Naira 1,089.68 1,089.68 8.97% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund NameBid PriceOffer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/AN/AN/A AXA Mansard Money Market Fund N/AN/AN/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund NameBid PriceOffer Price Yield / T-Rtn CEAT Fixed Income Fund N/AN/AN/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/AN/AN/A CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund NameBid PriceOffer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund 1,014.10 1,014.10 4.84% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund NameBid PriceOffer PriceYield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.011.015.31% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund NameBid PriceOffer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.41% Paramount Equity Fund 19.3919.7411.27% Women's Investment Fund 147.59 149.41 3.99% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund NameBid PriceOffer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.97% Cordros Milestone Fund 131.64 132.57 5.78% Cordros Dollar Fund ($) 110.84 110.84 5.13% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund NameBid PriceOffer Price Yield / T-Rtn Coronation Money Market Fund N/AN/AN/A Coronation Balanced Fund N/AN/AN/A Coronation Fixed Income Fund N/AN/AN/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund NameBid PriceOffer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/AN/AN/A EDC Nigeria Money Market Fund Class B N/AN/AN/A EDC Nigeria Fixed Income Fund N/AN/AN/A EMERGING AFRICA
Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund NameBid PriceOffer Price Yield / T-Rtn
MARKET NEWS 44THISDAY • MONDAY, AUGUST 22, 2022
Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund NameBid PriceOffer Price Yield / T-Rtn FBN Bond Fund 1490.451490.4511.40% FBN Balanced Fund 193.22 194.47 10.25% FBN Halal Fund 122.51 122.51 10.69% FBN Money Market Fund 100.00 100.00 9.27% FBN Dollar Fund (Retail) 125.28 125.28 5.94% FBN Nigeria Smart Beta Equity Fund 156.84 158.93 3.91% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund NameBid PriceOffer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.09% Legacy Debt Fund 3.74 3.74 -6.55% Legacy Equity Fund 1.87 1.91 7.67% Legacy USD Bond Fund 1.24 1.24 2.60% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com
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 18Aug-2022, unless otherwise stated. Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date. ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com
THISDAY • MONDAY, AUGUST 22, 2022 Afrinvest West Africa Limited Adedoyin Allen | aallen@afrinvest.com Taiwo Ogundipe | togundipe@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Christopher Omoh | comoh@afrinvest.com Brokerage Asset Management Abiodun Keripe |akeripe@afrinvest.com Damilare Asimiyu | dasimiyu@afrinvest.com Investment Research TickerPricePriceChg% PRESTIGE0.489.1% SOVRENINS0.278.0% LASACO1.156.5% UNITYBNK0.454.7% ACADEMY2.132.4% AIICO0.551.9% FIDELITYBK3.081.0% MANSARD1.860.5% STANBIC28.100.2% NAHCO5.860.2% TickerPricePriceChg% COURTVILLE0.46-9.8% SCOA1.75-9.8% SKYAVN5.10-9.7% REGALINS0.23-8.0% HONYFLOUR2.65-5.4% CAVERTON1.01-3.8% CHAMS0.27-3.6% PZ9.00-3.2% JAPAULGOLD0.33-2.9% UPDC1.02-2.9%TickerVolumePriceChg% FBNH28.4-0.5% ZENITHBANK16.7-0.5% UBA11.2-0.7% CORNERST11.1-1.4% UBN5.70.0% ACCESSCORP5.50.0% TRANSCORP4.90.0% GTCO4.30.0% JAIZBANK4.10.0% REGALINS2.7-8.0% TickerValuePriceChg% NESTLE2705.90.0% ZENITHBANK361.7-0.5% FBNH303.2-0.5% MTNN89.00.0% GTCO86.40.0% UBA78.2-0.7% NGXGROUP47.80.0% ACCESSCORP46.60.0% OKOMUOIL43.40.0% UBN36.50.0% 45
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Fatima Abdullahi, appealed to the security agencies to intensify patrol of the community and adjoining villages to prevent their assailants from coming to attack them again, adding that "it is also a thing of joy to be at home again". Although the state government has so far renovated over 100 houses in the community, there is urgent need for the government to ensure speedy reconstruction of other 300 houses recently destroyed by heavy downpour experienced in the community in order to enable the returnees to have adequate shelters. Also, the speedy reconstruction of the community's only primary healthcare centre, primary and secondary schools will go a long way in resuscitating the socio-economic, physical well-being and educational development of the returnees and their children.
Ray of Hope as Katsina IDPs Return Home
The state government under the able leadership of Governor Aminu Bello Masari will continue to support you (returnees) in the areas of provision of security and food items. Your return to this community today (Monday) is a great symbol signifying the gradual return of relative peace in Jibia LGA
She, however, called on the federal and state governments to construct the road that links the community with Jibia and Batsari local government areas. According to her, the un-motorable road has contributed to the spate of insecurity bedeviling the hitherto peaceful community, "the road is very bad and if there is any attack, security personnel do find it very cumbersome to intervene in time".
Another returnee, Surajo Ibrahim, who lost his child in the attack that uprooted him and other residents from the community, declared that there was no place like home, adding that despite the calamity that befell him and others, it was good to return home and start afresh. “I am a farmer and happy to return home. We thank the government and security agen cies for making our return possible. We are also appealing to the government to help us financially to make our efforts to restart our lives easy as you can see, we are starting all over again,” he said. For Habibu Khalid, it is jubilation galore because he will no longer remain an IDP in Jibia since his home has been liberated and safe enough for his return. "Finally, I am back to my hometown after five months of being an internally displaced person in Jibia. There is no place like home so I will remain", he said whileWithlaughing.therestoration of security, law and order to the reclaimed community, he said, the immediate need would be the reconstruction of damaged infrastructure and support for the people to return to their normal livelihoods, "so government should ensure speedy completion of all the destroyed infrastructures, particularly ourSimilarly,houses".
CITYSTRINGS 54 THISDAY DAY AUGUST 22, 2022 Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430
Maitan and some officials of Jibia Local Government while addressing returnees in Shimfida
Francis Sardauna, who monitored the return of internally displaced persons in Katsina State to their ancestral home of Shimfida in Jibia Local Government Area, reports that the reigns of terror on the community may have ended
The relics of destruction in Shimfida community in Jibia Local Government Area of Katsina State by suspected terrorists remain a concrete evidence of the destructive frenzy and other heinous activities of the blood-thirsty terrorists on other frontline local government areas of theThestate.terrorists, according to investigation by THISDAY, ransacked the hard-to-reach community on March 10, 2022 which led to the apparent total destruction of over 5,000 homes, shops and public infrastructure, including schools, primary healthcare centre and mosques. For instance, the terror raid on Shimfida town was carried out five months ago but evidences of the accompanying dangerous destruction are still glaring because over 300 houses, schools, shops and public worship centres are still in ruin stages, even as scores of citizens were reportedly killed by the criminals in the community. A visit to the community by THISDAY on 8 August, 2022, revealed that aside the infrastructure, all the means of livelihood, including foodstuffs and other farm produce of the rural farmers killed and that of those who survived the deadly incursion, were all set ablaze by the attackers. Survivors of the March 10 onslaught on the community, who are predominantly farmers and cattle rearers, were forced by the terrorists to abandon their farming and cattle rearing occupations with thousands hectares of arable farmland left uncultivated to Jibia town, the headquarters of Jibia Local Government. However, there is a ray of hope for gradual return of peace to the terrorist- ravaged com munity following the resettlement and return of over 12,000 internally displaced persons to their ancestral Shimfida community by the state government under the leadership of Governor Aminu Bello Accordingly,Masari.Governor Masari graciously approved and released a whooping sum of N88.6 million to the officials of Jibia Local Government and the state Emergency Management Agency (SEMA), which they said was judiciously used for the procurement of 2,000 bundles of zinc, 2,000 timbers and other roofing materials for rehabilitation of the community. The state government also released another N18 million for the provision of hospital drugs and logistics for both the hitherto IDPs and essential workers returning to the community. Government also procured 13 brand new grind ing machines and distributed to the returnees in order to replace those stolen by the terrorists during the invasion. As if that was not enough, the governor in his restoration agenda of ensuring the protection and welfare of the internally displaced persons, purchased 1,000 pieces of mattresses and shared to them to tackle their challenges of sleeping materials. He equally approved the fixing of doors and windows of some houses that were carted away by the hoodlums in the community. As part of efforts to restore education and healthcare delivery in the com munity, the Masari-led government has commenced assessment of the destroyed primary healthcare centre, primary and secondary schools in the community for the immediate reconstruction of the ruined health and educational facilities for effective and efficient healthcare delivery and education to thrive. To ensure the protection of lives and property of the residents of the community against any further attack by the terrorists, the state government in collaboration with the federal government had deployed adequate security personnel (military and police) with sufficient armoured personnel carrier vehicles to the community. Importantly, over 10,000 bags of rice and other assorted food items have been purchased by the state government for the feeding of the returnees pending the subsequent provision of other interventions by the government. This will significantly address the looming food shortage and other immediate humanitarian needs of theAddressingvictims. the returnees shortly after arrival at Shimfida community, the Chair man of Jibia Local Government Area, Hon. Bishir Sabi’u Maitan, said the government would continue to provide adequate security and relief materials to them in order to ensure that they carry out their legitimate business and farming activities in the community without hindrance. Maitan stated that besides about N88.6m expanded by the state on the accom modation for the victims of terrorism in Shimfida, the government also approved N18 million for provision of drugs and logistics for the returnees and essential workers in the community. "The state government under the able leadership of Governor Aminu Bello Masari will continue to support you (returnees) in the areas of provision of security and food items. Your return to this community today (Monday) is a great symbol signifying the gradual return of relative peace in Jibia"AsLGA.part of the government's effort to protect your lives and property, Governor Masari has spoken to President Muham madu Buhari and approval has been given so more soldiers will be deployed to this community", the chairman added. In his remarks, the chairman of Shimfida Youth Development Association, Sa’ad Salisu, commended the efforts of the state and local government in caring for the people, relocating and resettling them in their ancestral home. He, however, called on international organisations to support the government's effort of rehabilitating theButcommunity.Aminatu Dan-mamman who was among the 12,000 IDPs that were returned to their ancestral home by the government, said: "We suffered a series of attacks in this community by the bandits so I am pleading with the government to put adequate security here to prevent future occurrence of such horrible attacks". A mother of 13 whose husband was killed by the terrorists in the community, Aminatu's experience is same as that of many other returnees who were similarly displaced and also suffered untold hardship following the unlawful invasion of the community by terrorists.
Speaking further, Admiral Wambai acknowledged the joint efforts of other Gulf of Guinea States and international partners in the fight against piracy, to keep the seas open and safe for international trade to blossom. “So, we continue to have this series of collaborative efforts of international partners working together with us to ensure that the synergy in combating this scourge; no one country can do it alone, it has to be collaborative," he added. During the visit, Mohawk officers met with Nigerian Navy leadership at the WNC Headquarters in Apapa, as well as hosted ship tours for Nigerian government and military officials. Following the port visit, Mohawk conducted two days of at-sea engagements with the Nigerian Navy to promote maritime security cooperation. The United States and Nigeria have a proud maritime partnership of promoting peace, stability, and security in Africa while Nigeria is a participant in exercise Obangame Express, the largest multinational annual maritime security exercise in West Africa, and will host the next iteration in January of 2023. Obangame Express encourages countries to work together to address transnational maritime challenges.Thewaters surrounding the African continent are crucial for Africa’s prosperity and access to global markets. The United States shares a common interest with African partners in ensuring security, safety, and freedom of navigation.
SECURITY THISDAY DAY AUGUST 22, 2022 55
The United States Government has commended the Nigerian Navy for its role in reducing piracy in the Gulf of Guinea (GoG) region. The United States Consul General in Lagos, HE William Stevens made this commendation when the United States Coast Guard Cutter Mohawk arrived Lagos to strengthen its bilateral relations with its Nigerian counterpart. On a courtesy call to the Flag Officer Commanding (FOC), Western Naval Command (WNC), Rear Admiral Yakubu Wambai, at the Command’s Headquarters Office in Apapa, Lagos, he said the visit strengthened bilateral ties between the two nations as they continue to fight piracy in both Nigerian waters and GoG.
Fourth, there should be a codification of the moral values and virtues the government and Nigerian peoples subscribe to for the good of the larger society. Fifth, government should plug all the holes through which scarce resources are been siphoned so as to free resources for national development and equipping of the military to fulfill its functions.
US Gov't Commends Nigerian Navy over Reduction in Piracy CRIME SITUATION REPORTS
The United States Coast Guard Cutter Mohawk arriving at the Nigerian Naval Dockyard in Lagos
“You have gone beyond giving us vessels, now you are coming to exercise and trying to raise the bar by exchange of personnel. That means you have accepted us and you have recognised our capability and our competence as seamen, if not you would have liked to be teaching us."
...Strengthen bilateral relations as US Coast Guard Cutter Mohawk arrives Lagos
(From Left) Mohawk’s Commanding Officer Andrew Pate, Flag Officer Commanding of Nigeria’s Western Naval Command, Rear Admiral Yakubu Wambai and U.S. Consul General Will Stevens at the Nigerian Western Naval Command, Apapa, Lagos
In response, Admiral Wambai appreciated the visiting Consul General and the ship’s company for recognising the navy’s capability and competence. He said: "There have been indices and we have been working hard to achieve this. The international maritime bureau, in April 2022, delisted Nigeria from the list of pirate states. That means we have not heard any piracy incidents over the last 12 months”
“This is a collaborative efforts which is a deliberate effort but it is a planned work due to the leadership of the Chief of Naval Staff, Vice Admiral Awwal Zubairu Gambo that has put in a task and a timeline and followed up with proper guidelines ensuring that we maintain a close relationships with our foreign partners. “Going forward, such collaboration will continue and that is why you are seeing the US Coast Guard – MOHAWK, in Nigeria, and we will continue to have this collaborative effort of international partners working together with us to ensure the necessary synergy in combating this scourge as no one country can do that alone”
The government has made efforts to contain the insecurity inferno raging in many spots in the country, but until the moral foundation on which the Nigerian state is revolves on is regenerated, Nigeria may be walking the precipice. There is the need to revive and reinforce moral values and virtue ethics in the country and that the country should go a step further by codifying these values/principles so that Nigerians, small and old, can begin to imbibe these virtues to guide their conduct, behavior and social relations withFirstothers.ofall, government carries a moral burden to lead by example. Providing moral leadership that eschews evil, corruption, vices, inequity, injustice and wickedness will compel the people to model the character of their leaders and vice versa.Inaddition, the democratic system in place must begin to deliver the needed social goods so as to improve the standard of living of Nigerians and deliver many citizens from the state of absolute poverty to which they have been subjected for a longThird,while.there is need to identify the moral values and ethical virtues that should guide the conduct and behavior of Nigerians. These values should be built on the respect for human life, the regard for human dignity and the right to life, liberty and security of the people; the freedom of worship, religion, thought and conscience; and the freedom of opinion.
Stressing that the Nigerian Navy had increased its capabilities in light of recent efforts that have resulted in zero piracy attempts for several months, he said: " I am here accompanying my colleagues from the US Coast Guard – MOHAWK, as we come to partner with Nigerian colleagues in combating piracy here in Nigerian waters and the Gulf of Guinea. “We have been long-term partners with the Nigerian Navy, and we are so proud of the Navy for the great work that they have done to reduce piracy last year, with no piracy this year, and down by 90 per cent , with their colleagues across the Gulf of Guinea. “It is an incredible achievement and I think a mark of increasing capacity has been made here.”
Radical Change in Values – A paradigm shift of values from the current order has also been suggested and emphasized by many, considering the role of values in the governance system, leadership developmental goals, and behavior towards corruption. Radical Change in Values – A paradigm shift of values from the current order has also been suggested and emphasized by many, considering the role of values in the governance system, leadership developmental goals, and behavior towards corruption. It is argued that except our values are right, we cannot get it right as a nation in all of the areas that we have itemized, and except we get it right in those areas, the people will continue to suffer deprivation and injustice which will cause dissatisfaction and disaffection and consequently create an insecure environment. To overcome insecurity there is a need for intelligence gathering and surveillance so that law enforcement agents could be proactive and reasonably predict potential crime with near-perfect accuracy rather than being reactive. The menace of insecurity no doubt calls for a new approach that will be founded on credible intelligence gathering. Government must not only continue to engage the security personnel, but it must also, more than ever before, recognize the need to devote more attention to security intelligence, capacity building to meet the global best practice standard, and acquisition of modern technology.Thereisalso the need to modernize the security agencies with training, intelligence sharing, advanced technology, logistics, motivation, and change of orientation. This effort will enhance the operational capabilities of the Nigerian security agencies by identifying avenues that would enable them to respond appropriately to internal security challenges and other threats. In addition, there should be a complete overhaul of the security institutions in the country to reflect international standards of best practices so as to pre-empt these security breaches. The consistent pattern of post damage responses to national security has been attributed to the dearth of pre-emptive intelligence among security personnel.Thereshould be an institutionalized approach rather than the episodic and reactive response adopted by the government in the aftermath of attacks. In addition, the Government at all levels should not compromise in enforcing the law. Cases of corruption are not meant to be compromised, let alone adjourning them endlessly. The judiciary ought to have, at this stage in our development, evolved time scales for cases. There ought to have been a time to determine a cause; time to close that case; and time to deliver judgment and pass sentences. In Nigeria, cases that bother on corruption and insecurity have most often been compromised. Thus, the law is no longer acting as a deterrent. Our law enforcement agencies must therefore be incorruptible and fair. To ensure all this, there must be incentives, good conditions of service, and social security.
The formulation and effective implementation of policies and programs capable of addressing the root causes of insecurity in Nigeria is crucial, especially with regard to poverty; unemployment, environmental degradation, injustice, corruption, porous borders, and small arms proliferation. Therefore, efforts to tackle insecurity can only be effective if there is a robust combination of legislative and judicial interventions with government reforms that address some of the acute human security challenges confronting a vast majority of the population. The insecurity challenge in Nigeria has become a formidable challenge for the Nigerian government and peoples. The governance challenges facing the polity have trickled into the society, resulting in moral decadence.
Consul General Will Stevens welcomed the ship’s arrival, and noted, “the United States is committed to supporting the Nigerian Navy in its efforts to both secure its own territorial waters and those of the greater Gulf of Guinea. "Cooperation and the ability to operate together in the maritime domain are necessary to enhance Nigeria’s capacity to counter piracy, oil bunkering, illegal fishing, and other sea-based illicit activities.”
The growing dissatisfaction, discomfort and distress within the larger society coupled with the unabating official corruption, high unemployment rate, economic crisis, pauperization of the masses, decaying infrastructure and a futile national integration project have heated up the socio-politicalConsequently,environment.armedconflicts, terrorism, ethno-religious holocausts, kidnapping, political assassination and other violent crimes have become the theme of Nigerian social relations.
Uzoma Mba
INSECURITY CHALLENGES IN NIGERIA: WAY OUT OF SEEMING DESPONDENCY (8) Gbolahan Samuel Moronfolu Solutions to the Menace of Cultism (Cont'd) Good Governance – Good governance is the panacea for the insecurity challenge in Nigeria. The war against insecurity would be won only by raising governance standards; that is, cultivating the culture of good governance where the government is responsible and accountable to the people. Security engagement cannot be separated from good governance. Many others have also linked security to the governance system. The general view is that peace and security are determined by good governance. However, good governance is a function of effective, visionary, transparent, trustworthy, and credible political leadership whose driving force is an improvement in the collective wellbeing of the citizens through well-conceived, effectively implemented economic policies and human development programs. The underlying principle of good governance is the focus on people as the ultimate objective of governance. The Socio-Economic Development-This factor is strongly considered as the major key to peace and security in Nigeria. The challenge in solving the insecurity problem in Nigeria is to accelerate the pace of development. Development in this context consists of creating an economy with relevant social, economic, and physical infrastructure for business operations and industrial growth, to provide gainful employment, high-level education facilities, and medical care for the people. Elimination of Corruption and Entrenchment of Social Justice – Corruption is viewed as the cog in the Nigerian wheel of progress and development. It is the bane of our society. It is both a social and economic monster. It is the cause of inequality and inequitable distribution of the nations’ wealth among its citizens, a situation that is the root cause of disaffection among Nigerians. It is theorized by many that fighting corruption and winning the war will bring about an egalitarian society, where fairness, social justice, and equal right for all will reign supreme; where rights will not be privileges for some people, and for others, privileges are their rights: where every Nigerian will be treated and accorded position not based on tribe and sect, but on merit defined in terms of the content of his character, mental capacity and ability to deliver; where there will be no discrimination.
MONDAY AUGUST 22, 2022 • THISDAY56
NDLEA Intercepts 2.3 Million Tabs of North-bound Opioids
Sylvester Idowu in Warri Delta State Governor, Dr. Ifeanyi Okowa; former Governors of Delta State, Chief James Ibori and Dr. Emmanuel Uduaghan yesterday participated in the thanksgiving service to mark the first coronation anniversary of the Olu of Warri, Ogiame Atuwatse 111 in Warri. Others that graced the occasion included the State Governorship candidate of the People's Democratic Party (PDP) and Speaker of Delta State House of Assembly, Chief Sheriff Oborivweri as well as Governorship candidate of All Progressive Grand Alliance (APGA) Chief Great Ogboru and Dein of Agbor as well as the Emir of Kano. This was just as the Deputy Senate President and Delta APC Governorship Candidate, Senator Ovie Omo-Agege described the Olu of Warri Kingdom, His Majesty, Ogiame Atuwatse III as an inspiration to many. Former President of Pentecostal Fellowship of Nigeria (PFN), Pastor Ayo Oritsejafor, in his ministration at the thanksgiving service climaxing the weeklong activities thanked God for the life of Warri monarch.Hestressed the need for thanksgiving, quoting from various bible verses. He noted that it was in appreciation of God's mercies for favours he had done to mankind. Oritsejafor expressed confidence that the Warri kingdom and Ode Itsekiri in particular would transform into Dubai of Nigeria and urged the people not to lose hope. Highlight of the thanksgiving service was the prayers for Olu of Warri by Chief Brown Mene; Warri kingdom by Rev. Wilson Ofoluwafor and Delta State/ Nigeria by Rev. E. A. Gbiaye. Chief Roland Oritsejafor, who gave vote of thanks, expressed appreciation to the guests, well-wishers and the Itsekiris for turning out enmass for the celebration of the anniversary of the Meanwhile,monarch. Omo-Agege described the Olu of Warri as an inspiration to many. In a statement, Omo-Agege lauded the royal father for his role in promoting national unity and enriching the cultural values of HeNigeria.noted that as custodians of traditions, values and customs, traditional leaders have what it takes to galvanise all Nigerians towards peace, stability and progress of the country. The Delta Central lawmaker therefore urged traditional rulers to use their influential status to promote good governance and strengthen the unity of the nation. "I humbly join our good people to thank God Almighty for graciously keeping you in good health and sound mind to celebrate your First Coronation Anniversary as the youngest Olu of Warri Kingdom to lead the itsekiri Ethnic Nation in over 500"Ouryears.people deeply cherish Your Majesty's distinct place of honour as the symbol of the pristine cultural heritage and values of our Itsekiri people. Your special regard for the value of positive human relationships and clear vision of a modern, well-governed and organised society that is driven by the power of godly living, innovation and constructive, mutually respectful and excellent engagements across boundaries endear you to the people in unique ways," he said.
EDO PARLEYS OIL, GAS PRODUCING COMMUNITIES OVER PIA IMPLEMENTATION…
Laleye Dipo in Minna Niger State Governor, Alhaji Abubakar Sani Bello, has received over 500 women defectors from the opposition Peoples Democratic Party (PDP) into the ruling All Progressives Congress (APC) in his Kontagora town and assured them of better life.Bello also told the women that they would be given equal treatment as those they met in theAddressingparty. them in Kontagora on Saturday, the governor, who is also the APC senatorial standard bearer for Niger north senatorial district in 2023, described the change in political camp of the women as "a wise decision, because your former party is already sinking." He said the defectors would be captured in the execution of projects set out for the last quarter of this year, which according to him, included Women and Youth entrepreneurial development. "In the last quarter of our budget, we made enough provision for youths and women empowerment and skills acquisition, because the only way to move forward is to develop skills, even graduates that are doing nothing can participate in such ventures," Bello said, adding that the government had made provision for the settlement of herders in the last quarter of the year. Speaking also to APC stakeholders at the forum, Bello asked them to remain steadfast and committed to the party, adding that, everything was being done to improve security of lives and property of the Leaderpeople.of the women defectors, Hajiya Aisha Makka, said their decision to leave the PDP "is a collective one based on the goodwill and benevolence of some APC stalwarts to us, regardless of party differences." The Governor also visited the Sarkin Sudan Kontagora, Alhaji Mohammadu Barau, during which he promised to approach the federal government to reconstruct the KontagoraMinna road, saying, "I will personally follow this up to ensure the job starts immediately. Barau, in his remarks, commended the governor for "the good job you have been doing in our state" and asked him to keep it up, even as he pleaded with him to partner the federal government to bring an end to insurgency in his emirate.
The NDLEA spokesman said raids carried out in Akala, Mushin area of Lagos also led to the arrest of Pelumi Goodness and Ola Funke while over 1,171.75 kilogrammes cannabis and 29 litres of codeine syrup were recovered.Reacting to the series of arrests and interceptions, the Chairman/ Chief Executive of NDLEA, Brig. Gen. Buba Marwa (Retd), was quoted in the statement to have commended the officers and men of the MMIA, Kaduna, Kogi, Sokoto, and FCT Commands as well as DOGI for their efforts. He, however, urged them and their compatriots across the country to intensify their efforts at reducing the drug supply and drug demand in the country.
57MONDAY, AUGUST 22, 2022 • THISDAY NEWS
Michael Olugbode in Abuja
L-R: Representative of the Oba of Benin and the Esere of Benin, Chief Stanley Obamwonyi; Permanent Secretary, Edo State Ministry of Mining, Oil and Gas, Engr. Ferguson Enabulele; Commissioner for Mining, Oil and Gas, Ethan Osazee Uzamere, and representative of Edo State Governor and Commissioner for Local Government Affairs, Hon. Monday Osaigbovo, during a one-day oil and gas stakeholders’ meeting organised by the Edo State Ministry of Mining, Oil and Gas, in Benin City.
Bello Receives PDP Women Defectors, Assures of Better Life Okowa, Ibori, Omo-Agege, Others Eulogise Olu of Warri on His First Coronation Anniversary
The National Drug Law Enforcement Agency (NDLEA) has disclosed that in series of interdiction operations in the past week, it intercepted over 2.3 million tablets of illicit pharmaceutical opioids and other psychoactive substances meant for distribution in seven northern states of Borno, Kano, Kaduna, Sokoto, Zamfara, Gombe and Nasarawa. A statement yesterday by the spokesman of the antinarcotics agency, Femi Babafemi, which gave the exact figure of interceptions at 2,325,553 tablets and capsules of tramadol, hypnox, diazepam and Exol-5 including 7,353 bottles of a new psychoactive substance locally called Akuskura, said the drugs were seized at locations across Kaduna, Kogi, Sokoto, and the FCT. He said in Kaduna, a drug dealer Umar Sanusi, was arrested on August 12, during a follow up operation in Kano and brought back to Kaduna where his consignment of 50 cartons of pregabalin 300mg, containing 750,000 capsules, weighing 375 kilogrammes earlier seized along Abuja-Kaduna expressway was counted and weighed in his presence.Hedisclosed that same day, operatives also intercepted along Abuja-Kaduna express road 7,068 bottles of a new dangerous substance of abuse called Akuskura meant for Kaduna, Zamfara, Gombe, Kano and Borno, adding that the recipients in Kaduna and Zamfara have been arrested during follow up operations.Thefollowing day, August 13th, 285 bottles of the NPS were recovered from a dealer, Abubakar Ahmad, along the same highway, he further disclosed. According to him, in Kogi State, no fewer than 696,000 tablets of tramadol and Exol-5 among others loaded into a truck at Onitsha, Anambra state and heading to Maiduguri, Borno state, were seized along Okene-Abuja expressway last Friday, August 19th, while NDLEA operatives also recovered 300,000 tablets of diazepam from a suspect, Faruku Bello, 30, in Sokoto State last Wednesday.Babafemi said anti-narcotic officers of the agency in Abuja, FCT equally at the weekend intercepted a bus loaded with 323,200 tablets of tramadol 225mg and others at Onitsha, Anambra State, heading to Nasarawa State. He noted that the driver of the vehicle, Osita Nwobodo, 45, who made fruitless bids to compromise the operatives is now in custody. He also said a major importer of Loud variant of cannabis from the United States, Abibu Sola and a 63-year-old grandfather who ships illicit substances to his daughter in Dubai, United Arab Emirates (UAE) were among those arrested by NDLEA operatives at the Murtala Muhammed International Airport,“AbibuLagos.was arrested in connection with a 19.30 kilogrammes Colorado consignment from Los Angeles, USA, which was intercepted on 30th June at the NAHCO cargo import shed of the Lagos airport. While Abibu was still being interrogated in custody, a 37.1 kilogrammes consignment of Loud intercepted on 7th July was also traced to him. “Meanwhile, a freight agent, Miss Njoko Elizabeth, 37, has been arrested for attempting to export 250 grammes of tramadol and cannabis to Dubai through the NAHCO export shed.
“The drug exhibits were concealed inside some gallons of palm oil and honey, which were packed among food items and hair attachment. “Also at the Lagos airport, 249,600 tablets of tramadol 225mg have been recovered from a shipment from India at the SAHCO import shed of the MMIA,” the statement added. Babafemi said the consignment that arrived from India via Addis Ababa on Ethiopian Airline flight on 4th August was eventually evacuated last Wednesday as an abandoned seizure. He also said the 63-year-old grandfather behind an intercepted drug exhibit going to Dubai, Afolabi Kolawole on August 4, was arrested in Ibadan, Oyo state last Thursday, after more than four sets of arrests eventually unraveled him. He said Kolawole confessed that he was responsible for the concealment and packaging of the cannabis inside the black native soap used as mode of concealment and also admitted this was his second attempt at sending such illicit substance to his daughter, Barakat, in Dubai. “An Italy-bound passenger, Oziegbe Andrew, 55, was last Friday arrested with 600 grammes of tramadol 200mg while attempting to board Royal Air Maroc flight to Italy, via Casablanca, also seven cartons of khat leaf with a total weight of 295 kilogrammes have been seized at the NAHCO import shed of the Lagos airport. “The consignment came into Nigeria from Tanzania through Cairo on Egypt Air,” he added. Babafemi said operatives of the Directorate of Operation and General Investigation (DOGI) in NDLEA attached to courier firms intercepted 11.36 kilogrammes heroin and cannabis packaged for UAE, Netherlands and Omar concealed in dictionary, fancy light and body cream. He added: “In Niger state, 139 bags and 176 compressed blocks of cannabis loaded in Ogere, Ogun state and heading to Zaria, Kaduna state were seized by NDLEA operatives along Abuja-Kaduna road, Suleja from a company vehicle while the driver, Sani Mohammed, 44, and his assistant, Abubakar Abubakar, 30, were arrested.”
Best State in 2021 WAEC Exams
Edo Emerges
L-R: Chairman, Editor in Chief, THISDAY/ARISE News Group, Prince Nduka Obaigbena and Sokoto State Governor, Rt Hon Aminu Tambuwal, during reception after the thanksgiving outing service in honour of Obaigbena's late mother, Princess Margaret Obaigbena (nee Usifoh) at Saint Andrews Anglican Church, Owa-Oyibu, Delta State...yesterday.
THANKSGIVING OUTING SERVICE…
Edo State has emerged the best state in the 2021 diet of the West African Examination Council (WAEC) examinations, recording 92.8 percent pass rate among students who sat for the examination in the state. According to a statement yesterday, the state also came second in the ranking of the pass rate among public schools who wrote the examination across Nigeria in 2021. It quoted recent data released by WAEC and the National Bureau of Statistics (NBS) published by data firm, Statisense on its Twitter handle.According to the data, Edo came first in the national tally with 92.8 percent of students passing the exams with five credits, including English and Mathematics, followed closely by Enugu State in the second position with 92.7 percent; Anambra ranks third with 92.2 percent; Benue State came fourth with 91.5 percent; Ebonyi sits on fifth with 90.5 percent and Cross River State is sixth with 90.2 percent. In the ranking of the performance of public schools which presented candidates for the exam, Enugu State came first with 93.9 percent; Edo ranked second with 93.5 percent; Benue came third with 91.7 percent; Ebonyi came fourth with 91.3 percent, while Anambra came fifth with 91.3 percent. “The Governor Godwin Obaseki-led administration has over the years implemented far-reaching reforms across the education ecosystem, beginning with the basic education sector.
L-R: Senator Dr. Ifeanyi Ubah; Chairman, Editor-in-Chief THISDAY/ARISE News Group, Prince Nduka Obaigbena and former Governor of Akwa Ibom State, Senator Godswill Akpabio, shortly after a thanksgiving outing service for Obaigbena's late mother, Princess Margaret Obaigbena (nee Usifoh) at Saint Andrews Anglican Church, Owa-Oyibu, Delta State... yesterday KUNLE OGUNFUYI
“The reforms are percolating to the other aspects of the state’s education space, with a number of the teachers in public schools in the state receiving national awards for their devotion to service and innovation in the classroom. “The governor was awarded the NUT Governor of Year by the Nigerian Union of Teachers in 2019 in recognition of his multifaceted reforms and initiatives in the state’s education sector.Meanwhile, Edo State government has started rallying stakeholders in the oil and gas industry for effective implementation of the Petroleum Industry Act (PIA), calling for increased collaboration to ensure sustainable peace and development in the state. The Edo State Governor, Mr. Godwin Obaseki, at a one-day oil and gas stakeholders’ meeting organised by the Edo State Ministry of Mining, Oil and Gas, in Benin City, was quoted in a statement to have said with diligent implementation of the new law, the state would be able attract more investment into the sector.Obaseki, represented by the Commissioner for Local Government Affairs, Hon. Monday Osaigbovo, said the forum with the theme, “Effective Implementation of the Petroleum Industry Act (PIA): A Strategic Tool for Sustainable Peace Among Stakeholders,” was aimed at fostering peace and enhancing collaboration between the government, oil and gas-producing communities and other stakeholders.
State parleys oil, gas producing communities, others on PIA implementation firm and others recovered for the state but were not paid their commission.Thepetition with (Ref: CU/01/ EB/2022) addressed to the IGP urged the police authorities to forestall the, “Illegal and Unlawful Attempt to Abduct, Kidnap and Harass Dr. Maurice Ibe by Dave Umahi, Executive Governor of Ebonyi State.” The lawyer pleaded with the IGP to, “proactively take steps to halt the move by the governor and the select police officers he has engaged for the nefarious activity against Dr. Ibe.” However, the Governor, through his Special Assistant on Media, Mr. Chooks Okoh, dismissed Ibe’s claims while speaking to THISDAY, and described the financial consultant as an impostor who is not known to the Ebonyi State Government. He said, “We do not know who Maurice Ibe is. He claimed to have helped the Ebonyi State Government recovered money from the Paris Club but it is in the public domain that there was a consultant that recovered the fund for all the governors and the arrangement was coordinated by the Nigeria’s Governors Forum. “On what basis will somebody now be asking the Ebonyi State Government for money for something that was clearly done by another person on behalf of all the governors in Nigeria? “It is good that he has petitioned the Inspector General of Police. Let the IGP investigate thoroughly and indict whoever that is Meanwhile,culpable.”Ude insisted in the petition that his client, who is also the Chief Executive Officer of Mauritz Walton Nigeria Limited, Abuja, had noticed clandestine moves by some policemen around his home and office premises in unmarked vehicles. He claimed that he had reasons to suspect that the men were acting on the instruction of Umahi. He therefore said there was need for the IGP to protect him from being attacked or abducted by the Policemen allegedly sent after him by the Governor. In the petition, the solicitor explained that based on a Memorandum of Undertaking (MoU), Mauritz Walton Nigeria Limited and Andrew Bishopton Limited, acting as partners, entered into a working relationship that enabled them to collaborate on a consultancy contract for Ebonyi State Government. He claimed that the business relationship led to in the recovery of the sum of $119, 419,427.59 for the state as over-deductions and miscellaneous charges wrongfully made by the federal government of Nigeria on foreign loans utilised by Ebonyi State Government from 1995 - 2002. The petitioner further alleged that the Ebonyi State government defaulted in the payment of the consultancy fees agreed between her and the consultants. It added that the development led to the filing of Suit No. FHC/ PH/CS/35/2022, between Andrew Bishopton Limited and the firm of its client, Mauritz Walton Nigeria Limited, versus the Government of Ebonyi State. The lawyer explained that the originating summons which was instituted at the Federal High Court, Port Harcourt Judicial Division, was duly served on the Defendants before the hearing commenced in the suit.
$119.4m Paris Club Refund: Businessman Reports Umahi to IGP, Alleges Threat to Life
He is an impostor, we don’t know him, Governor’s aide declares of the investigation, the soldiers will be made to face the full wrath of both military and civil laws."This incident is highly regrettable given the sector's disposition and zero tolerance for violation of code of conduct and rules of engagement for troops. "Consequently, the Sector wishes to commiserate with the family of the victim and the good people of Yobe State and promise that justice would be served accordingly," it said.
Army Chief Charges Graduating Cadets to Deploy Acquired Skills to Tackle Insurgency
Raises board of inquiry to probe soldiers involved in killing of Islamic cleric in Yobe Kingsley Nwezeh in Abuja The Chief of Army Staff (COAS), Lt Gen Faruk Yahaya at the weekend charged Army Cadets of Regular Course 69 of the Nigerian Defence Academy (NDA) to deploy their newly acquired combat skills and competences to surmount security challenges in the country. Yahaya gave the charge as the special guest of honour at the, "Battle Inoculation phase of Exercise Camp Highland," which wrapped up final exercise for the Army cadets, before their passing out of the academy later in October this year. The COAS, who expressed satisfaction over the level of training received by the cadets, noted that with recent review of training curriculum in the academy, there had been remarkable improvement in the quality of cadets' combat training, in line with NA's deliberate capacity development effort towards tackling contemporary security challenges. He expressed optimism that as junior commanders, they would add value to ongoing operational efforts to restore peace and security in troubled parts of the country. While pointing out that a lot of resources had been invested in training the cadets, the COAS expressed appreciation to President Mohammadu Buhari for the confidence reposed in the NA, as well as his support and strategic guidance. He assured the president and all Nigerians that the Nigerian Army in synergy with other services and security agencies would, "speak to the insurgents and bandits in the language they understand."Describing Exercise Camp Highland Battle Inoculation as a "baptism of the Army Cadets into battle", the Commandant NDA, Maj. Gen Ibrahim Yusuf, disclosed that the exercise was a culmination of five years of training for the Cadets before theirThegraduation.exercisefeatured a combat assault on a simulated objective with live firing by a combat team of cadets, supported from the air by the Nigerian Air force to inject realism into the exercise. Senior officers who witnessed the exercise included the Commander Training and Doctrine Command, Principal Staff Officers from the Army Headquarters, Corps Commanders and General Officer Commanding 1 Division. Meanwhile, the Headquarters Sector 2 Joint Task Force North East Operation Hadin Kai in Yobe State, has instituted a board of inquiry to ascertain the level of involvement of soldiers who killed an Islamic cleric. A statement by the Assistant Director, Army Public Relations Headqu7arters Sector 2, Operation Hadin Kai, Capt Kennedy Anyanwu, said the sector, in collaboration with Yobe State Police Command, was conducting an investigation to unravel the identity of the suspected soldiers. "Additionally, the sector has instituted a board of inquiry to unravel the circumstances surrounding the unfortunate incident. At the end Sunday Aborisade, Abuja A businessman and financial consultant, Dr. Maurice Ibe, has petitioned the Inspector General of Police (IGP), Alkali Baba, alleging that Governor Dave Umahi of Ebonyi State was threatening his life. Ibe made the allegation in the petition written on his behalf by Charles Ude, from the Charles Ude and Co, Solicitors, and made available to THISDAY in Abuja yesterday.Heclaimed that the governor was allegedly threatening his life because of the $119, 419,427.59 Paris Club refund which his
58 THISDAY • MONDAY, AUGUST 22, 2022
NEWSXTRA
The All Progressives Congress (APC) in Rivers State said it was confident of winning all elective offices in the 2023 general election in the state. The party said with the current rumbling in the state’s chapter of the Peoples Democratic Party (PDP), APC had a good chance to win all the seats in the election. Acting State Publicity Secretary of APC in Rivers State, Darlington Nwauju, made the assertion yesterday in Port Harcourt, in a statement.Nwauju alleged that the inability of the PDP administration in the state to run an open and accountable government in the last seven years had caused untold hardship to the people.Hestated, "APC is forced to reveal that the aggressive and noninclusive leadership style of the PDP administration in Rivers State and its inability to run an accountable and transparent government in the past seven years has caused huge frustration in the state and a hunger for change. This, thus, makes it easier for the APC to take over the Brick House come next year’s elections.
Same Faith Ticket will Jeopardise Peaceful Co-existence, PFN Insists in the state, needs making a few observations on. "For starters, Governor Samuel Ortom does not run the local government administrations in Benue State, rather, the executive arm of the state government under his leadership only exercises oversight on that tier of government through clear cut constitutional provisions, which do not include constituting councils and inaugurating them. “Local government council chairmen are vested with such responsibility, and if in the course of exercising this, they have inaugurated the vice chairmen, which is a fact against the lie by APC that they have not been inaugurated, but have encountered delays for a period of less than two months, which we are aware is for purpose of consensus building and harmony within the system, it should be understandable, especially, to a party like APC under which control it took President Buhari over half a year to pick a cabinet composed of recycled politicians. "It is the assurances from PDP as the sponsoring platform for those local government administrations as well as the Ortom administration that the right thing is being done at those councils as we are aware no council chairman has so far acted outside of their lawful powers, even as they have so very early shown through decisive steps that they will consolidate on the achievements of their predecessors and thereby continue on the trajectory of improvement of governance at that tier, even as we equally assure that the legislative arms of government at that level will within the shortest possible time be inaugurated."
NEWSXTRA
"In the coming weeks and months, Rivers people shall understand the reason why we believe those who left the APC recently committed political harakiri by not prognosticating correctly on the age-long political behaviour of Rivers people when it comes to "Again,transitions.therumblings in the camp of our neighbours will certainly lead to an internal immolation, whose implication can only be understood after elections have been lost and won."Over seven years, they have done everything to cause crisis in the APC, but members of our great party are advised to now avoid trouble and watch the Lord fight our battle as the ruling party is now eating the very poisoned food they cooked for others."
Pray over 2023 Polls, Cleric Urges Nigerians
Mary Nnah
PFN reiterated further its willingness to continue to mobilise the church to ensure full participation in the political process by all Christians while encouraging its members to vote in line with what was best for Nigeria and the Church at all levels, with the framework prepared by the Christian Association of Nigeria as a guide. “The PFN will continue to engage and collaborate with like-minded organisations and individuals to ensure that the 2023 elections deliver to Nigerians and Nigeria a ticket that will further the unity of the country in line with the expectations and prayers of Nigerians,” Ilechukwu noted. He stated further that the group would continue to be open-minded and broad-minded, leaving the door of engagement with all political parties open, so that all the issues that are holding back the development and unity of Nigeria can be comprehensively addressed. Speaking further he noted: “The PFN resolves to continue to uphold Nigeria and the leadership of the country in prayer, given the grave economic situation of the country, which has further compounded the increasingly worrisome state of security in the country, with terrorism, banditry, kidnapping and other heinous crimes on the“Therise.PFN notes that even in the face of the unprecedented level of disunity in the country, some of the political parties and politicians have acted in disregard of the fragility of the times we live in, made worse by the poor management of our fault lines, thus further polarising the country,” he said further.
ATIKU: INEC LAYING FOUNDATION FOR RIGGING 2023 POLLS WITH MANUAL COLLATION OF RESULTS
The Pentecostal Fellowship of Nigeria (PFN) has reaffirmed its position that a same-faith ticket would not be in the interest of Nigeria, insisting that it could further jeopardise the prospects of peaceful co-existence and building of a united Nigeria.
Speaking immediately after an extraordinary joint meeting of its National Advisory Council (NAC) and the National Executive Council (NEC) held in Lagos, the National Secretary, PFN, Bishop Cosmos Ilechukwu said despite his body’s advice to the political parties that same faith ticket, be it Christian-Christian or Muslim-Muslim, would not augur well for the unity and future of Nigeria, some political parties chose to ignore that counsel.However, Ilechukwu stressed further that PFN in consonance with its constitution and governance framework has always been non-partisan, adding that it has never been in the business of endorsing and would not be doing so in the 2023 elections candidates.
George Okoh in Makurdi The Peoples Democratic Party (PDP), yesterday, took on the All Progressives Congress (APC) in Benue State over its call on the House of Assembly to impeach Governor Samuel Ortom following allegation of tempering with the local government administration. PDP, at a press conference addressed by its state Publicity Secretary, Mr Bemgba Iortyom, at the party’s headquarters in Makurdi, registered PDP's growing concerns over the activities of APC as an opposition party in the state. PDP said the crass inability of the opposition party to meet such elementary lawful requirements as fielding candidates for the 2023 elections was at the moment a matter pending before the courts. It also said APC’s serial gaffes on matters of state policy and administration, such as was done at a press conference it addressed in Makurdi calling for the impeachment of Governor Samuel Ortom over what it termed mismanagement of the local government tier of administration
PDP Replies APC over Call to Impeach Ortom for Tampering with Council Administration
PARTNERS NETWORK AND OPENING OF OPERATIONS… L-R: Director of Finance and Admin., Esso Properties Limited, Ofortube Amaka- Uzodigwe,Managing Director/Chief Executive Officer, Esso Properties Limited, Dr. Smith Ezenagu, comedian, Kenny Blaq, Pastor Akingbade Olayinka and Chief Executive Officer, One Big Pie Consulting Limited, Saviour Ogonenwe at the Esso Properties Partners Network and Opening of operations on the Mainland at Nkem Event Place, Amuwo Odofin, Lagos...recently commission has jettisoned the electronic transmission of result and reverted to the manual process. This is not correct. "For clarity, the procedure for result transmission remains the same as in recent governorship elections in Ekiti and Osun states. There will be no change in all future elections, including the 2023 general election."Wewish to reassure Nigerians that the electronic transmission of result has come to stay. It adds to the credibility and transparency of the process, when citizens follow polling unit level results on the INEC Result Viewing (IReV) portal on real-time on Election Day. There will be no change or deviation in subsequent elections. "The entire gamut of result management is provided for in Sections 60, 62 and 64 of the Electoral Act 2022. In line with the provision of the law, the commission, in April this year, released a detailed clarification of the procedure for transmission, collation and declaration of result, which was shared with all stakeholders and uploaded to our website. "We appeal to all Nigerians to avail themselves of the provisions of the Electoral Act and the commission’s detailed explanation of the procedure and not reach a conclusion on the basis of media headlines."
CISLAC to INEC: Clear Air on ‘Manual Collation’ Rumour
The Civil Legislative Advocacy Centre (CISLAC) called on INEC to defuse the tension and rumour around the subject of manual collation of results by frankly stating the commission’s position ahead of next year's general election. Although INEC had clarified its position, CISLAC, in a statement by its Executive Director, Auwal Ibrahim Musa (Rafsanjani), said it was seriously worried by rumour across the media through a statement attributed to Okoye, which said results of the 2023 general election would be manually collated.Musa said, "We recall that well-meaning Nigerians and civil society groups had supported INEC in overcoming hurdles and pushing for the amendment and presidential assent into the Electoral Act, primarily to integrate the electronic voting system in all electoral processes, to enhance electoral integrity, credibility and transparency in the country. "We, at the same time, are not unaware that some unpatriotic citizens, who constituted themselves as powerful forces would neither support the amendment nor electoral reform, as they preyed on the weak Electoral Law and process in securing votes through electoral fraud, vote-buying/trading, multiple voting, vote-forgery, and money laundering.”Hesaidwhile CISLAC would continue to engage relevant stakeholders on electoral reforms, the body, "Reiterates that it would not sit back and watch a major damage to the Nigerian electoral integrity or potential violation of sanity and sanctity of the Electoral (Amendment) Act, giving the prospects and values it holds to deliver transparency, credibility and integrity of the electoral process and"We,outcomes.onthis note, call on INEC to clear the air and give accurate position on the rumour to preserve citizens’ confidence, while preventing the looming distrust in the upcoming 2023 general election. CISLAC will continue to work with INEC to ensure electoral credibility and integrity in the 2023 elections and beyond.”
59MONDAY, AUGUST 22, 2022 • THISDAY
Church, Oke Ayo Igbala Irapada, Orientation Iganmu, Lagos. He lamented that Nigeria was moving towards a precipice, saying, "We must pray for the success of 2023 elections. Blessed be those who pray for the peace of Jerusalem. Those who love it will prosper. "As the campaign draws nearer, the youths should avoid thuggery and violence. We can have a stable country and a violent-free poll. Those who have PVCs should vote. Don't say politics is dirty. Let all contestants play according to the rules. Tinubu is not a man of violence. Don't do anything that will discredit him." The theme of the celebration was, “The Covenant God”. Guests at the event included Special Adviser to the Lagos State governor on Local Government and Chieftaincy Affairs, Bayo Osiyemi; Mrs. Bamidele Hussein; Lagos State All Progressives Congress (APC) Chairman, Cornelius Ojelabi; Dr. Saheed Ibikunle of Universal Basic Education Board; former House of Assembly member and one-time commissioner Bimpe Akinsola; House of Assembly candidate Moshood Aro; chairman of Igbogbo-Bayeku Council, Sesan Daini; and his Ijede council counterpart, Motunrayo Alogba.
Rivers APC Expresses Confidence of Victory in 2023 Elections
The Supreme Head of Cherubim and Seraphim Church in Nigeria, Dr. Solomon Alao, urged Nigerians to pray for the success of next year's elections. Alao said this while reflecting on the preparations for the 2023 polls during the Diamond jubilee celebration and fund raising of the Cherubim and Seraphim
Abia APC Guber Candidate, Emenike, Unveils Female Running Mate
GunmenBeggars,RehabilitationEvacuation,ofStreetOthersinBeninAbduct
SUPPORTING ENTERTAINMENT…
the four sisters, the body called on all religious faithful to pray for the quick and safe return of theThevictims.Imo state Police Public Relations Officer, Mike Abattam, said the command has gotten a report of the incident. He noted that the Commissioner of Police immediately drafted men from the anti-kidnapping unit to comb bushes along the area to ensure that the sisters are rescued as soon as ago.kidnappedPrelate,axistookSunday’spossible.abductionplaceinthesamewheretheMethodistSamuelUche,wasafewmonths
“Upon the report, the Divisional Police Officer, Ode Remo, Mr. Olayemi Fasogbon, detailed his detectives to the scene where the suspect was promptly arrested. “On interrogation, the suspect, who first denied the allegations later confessed when the victim confronted him. His confession led to the arrest of five others who have slept with the victim at different times on the invitation of the “Thefather.other suspects are: Ahmed Ogunkoya, 30 years; Muyiwa Adeoye, 48 years; David Sunday Solaja, 69 years; Emmanuel Olusanya, 50 years; and Joshua Olaniran, 50 years.
Emmanuel Ugwu-Nwogo in Umuahia
NCC Extends 5G Rollout by Five Months for Mafab Communications
CSOs Condemn ASUU over Demand for Unearned Salaries
Adibe Emenyonu in Benin City
As part of efforts aimed at improving the living standard of the people of the state through employment creation, Bauchi State under the Kaura Economic Empowerment Programme (KEEP)has distributed materials worth N150 million to 1,000 women and youths in Alkaleri and Kirfi Local Government Areas(LGAs) of the state While flagging off the distribution of the materials in the two LGAs weekend, Governor Bala Abdulkadir Mohammed said that KEEP is all about making the people of the state self-reliant. He explained that this is being done by providing the beneficiaries with the wherewithal and conducive environment to be economically productive and employers of labour.Thegovernor added that the programme was designed to boost economic activities in order to address problem of unemployment and alleviate poverty among the people, especially the youths and women who are regarded as most vulnerable.
Two civil society groups, the Nigerian Project Initiative (NPI) and the Initiative to Save Democracy (ISD), have condemned the Academic Staff Union of Universities(ASUU) over its decision to keep students at home with its demand for the payment of six months salaries for the period the teachers have been out of class. NPI and ISD, in a joint statement, expressed outrage over the determination of the lecturers to keep the students at home over their demand for money that they didn’t work for. “The demand by ASUU to be paid for the months its members were on strike is hollow, self centred and vexatious,” Mohammed Umar Salihu, chairman of NPI and Akinloye James, ISD Chairman said in the joint statement. “It is particularly provoking that other unions in the academic community pursuing almost the same goals have decided to go back to work but ASUU members rather than follow suit are demanding payment for work that they did not do. “Which employer does that? If for example the government were to heed them, would that not be a recipe for disaster as NASU and SSANU which have agreed to go back to work would now resort to strike to demand the same salaries that they forfeited during the strike?”
According to the governor, his administration has continued to palace high premium on empowerment through job creation as a testimony of its commitment towards poverty alleviation.Mohammed pointed out that his government has put in place the Bauchi State Microfinance Institution Building Programme (MIFIN) to complement KEEP. He said: “The aim of this programme is to develop and strengthen Microfinance Institutions and establish linkages among the institutions and other financial institutions in order to create a viable and sustainable microfinance system.”Headded: “The ultimate goal is to enhance access of the poor to financial services so as to boost the productivity of micro and small scale enterprises, thereby reducing poverty.” According to the governor, since the commencement of the KEEP in the LGAs, an average of N75 million in both cash and kind has been distributed to some selected beneficiaries in each of the Local Governments where the programme has so far been launched.
James Sowole in Abeokuta Men of the Ogun State Police Command, have arrested a 49-year-old man, Mr. Amoda Bola, for allegedly impregnating his 14-year-old daughter.Theman, according to a statement by the Police Public Relations Officer (PPRO), for the command, Abimbola Oyeyemi, was arrested sequel to a complaints lodged by the victim.Oyeyemi said: “The suspect, a resident of Idi Oro Street, Ode Remo, was arrested following a complaint received from the victim, who reported at Ode Remo Divisional Headquarters that her father with whom she has been living with for some years now have been having carnal knowledge of her. “She stated further that her father has also been inviting men to the house to have sex with her after which the men will pay him money.
Police Arrest Man for Allegedly Impregnating Daughter
MONDAY AUGUST 22, 2022 THISDAY60 NEWS
Edo Begins
Ayu Tasks Professionals on National Development
Four Catholic sisters have been kidnapped at Umulolo community along unconditionalBenitaLiberataChristabelsistersidentifiedtheymorningwerestatement,Ihedoro.(Generalate),OfGeneral,issuedconfirmedExpresswayOkigwe-EnuguinImoState.TheabductionwasinastatementbytheSecretary-TheSistersJesusTheSaviourSisterZitaAccordingtothethevictimsonthewaytoamasswhenwerekidnapped.ShethekidnappedasJohannesNwodo,Echemazu,Mbamalu,andAgu.Whileprayingforthereleaseof
The Edo State Government has commenced the evacuation and rehabilitation of street beggars, mentally-challenged persons and other destitute persons in major streets and markets within the Benin metropolis. The evacuation and rehabilitation is being implemented by the Edo State Ministry of Social Development and Gender Issues, in partnership with various security agencies in the state in line with the “Operation PlanTheEdo.”team evacuated over 50 such persons in the GRA axis of Benin City, including Ihama, Boundary and Country Home Roads axis, as well as Sapele Road and Ring Road axis, all within the Benin metropolis. The Permanent Secretary of the Edo State Ministry of Social Development and Gender Issues, Mrs. Barbara Osobajo, said that destitute persons would be rehabilitated and reintegrated into the society, while others would be reunited with their families. Osobajo called for increased collaboration and support of all residents to end street begging and other such unacceptable practices within the Benin metropolis. She said: “The Edo State Government, in line with the “Operation Plan Edo,” aims to sanitise the state and reposition it for sustainable growth and development. The government has kicked off the evacuation of street beggars, mentally-challenged persons and other destitute persons within the Benin“Themetropolis.personswho have been evacuated have been taken to various rehabilitation and correctional facilities within the state where they are being catered for, and will be reintegrated into the society after thorough care and rehabilitation. “The operation kicked off within the Benin metropolis and will be extended to other parts of the state to ensure that we achieve a safe and sane Edo that we all will be proud to be associated with.”
The speech reads further: “When we look at Nigeria today, we see professionals everywhere, manning the critical sectors of her economy: our hospitals, schools, roads, economy, ports etc. “Some of the professions are even chartered. So, those running Nigeria today are professional soldiers, professional bankers, chartered accountants, chartered engineers, professional teachers etc.
Four Catholic Sisters in Imo State
“It is a rule in industrial relations that unions keep a strike fund and ASUU through its president has admitted that they have been paying their union members. So, it is thus apparent that ASUU by its demand is now seeking double pay for its members for work not done.”
Chuks Okocha inAbuja National Chairman of Peoples Democratic Party(PDP) Dr. Iyorchia Ayu, has charged Nigerian professionals on national development, saying it is incumbent upon them to create a society where the professions and professionals canAyuthrive.gave the charge at weekend in Abuja while speaking at the 12th Annual General Meeting (AGM) of Professionals Association (OPA). Represented by his Special Adviser on Media and Communications, Simon ImoboTswam, Ayu regretted that despite the plethora of professionals running the nation’s affairs, the state of the nation has left much to be desired. Ayu’s speech, entitled “The Task Before Nigerian Professionals,” reads in part: “Professionals are people with a profession. And a profession is what we do for a living as opposed to pastimes.It usually requires advanced training or formal qualification.”
The Governorship candidate of the All Progressives Congress (APC) in Abia State, High Chief Ikechi Emenike, has chosen a woman as his running mate in the 2023 general election, vowing to work with her and other Abia women to salvage the state. She is Rev Gloria Nanya Akara from Ukwa East local government in Abia South Senatorial District, who was unveiled yesterday at a meeting of Bende local government APC stakeholders at Item in Abia North zone. Emenike, who formally introduced his running mate to the large crowd of party faithful, described her as “a lady of faith, a true mother, a loving wife”, who would add value to the rescue mission of Abia APC. This strategic appointment of a woman as running mate has placed Abia APC as the only party out of the big four political parties in Abia(Peoples Democratic Party, APC, All Progressive Grand Alliance and Labour Party) to have put women on the front seat ahead of the 2023 gubernatorial race.Abia women have never had the opportunity to sit in the executive wing of the state,” he said, adding that, “APC is promising something positively new in Abia”. The APC governorship hopeful further underlined the significance of his choice of Akara as running mate, pointing out that nobody from Ukwa, the oil bearing area of Abia has been in the executive wing right from the old Imo state. “It has always been my desire that Ukwa people must be in the political equation of Abia,” he revealed, adding that he didn’t just go to Ukwa for a running mate but got a high quality woman with intimidating credentials, including 40 years of legal practice.
Emma Okonji With barely two days for MTN Nigeria Limited and Mafab Communications Limited to roll out 5G technology across Nigeria as mandated by the Nigerian Communications Commission (NCC), the telecoms industry regulator, Mafab Communications has received a five-month extension period from NCC. Mafab Communications, one of the two telecommunication firms that won the 5G Spectrum licence in December 2021, in a statement yesterday, said NCC issued it a five-month extension for its roll out. MTN and Mafab, had in December 2021, won the 3.5GHz Spectrum band for 5G license and NCC gave both operators up till August 24 to rollout 5G technology services across the country. But Mafab Communications said NCC granted it five months extension to roll out. The Director, Public Affairs at NCC, Mr. Reuben Muoka, who confirmed the development to THISDAY late last night, said NCC decided to extend the rollout date for Mafab alone because the company does not have operating licence to roll out 5G network. “The 5G licence comes with frequency licence and not operational licence. So Mafab only has frequency licence and does not have operational licence and it needs to apply for a telecom operational licence to enable it roll out 5G services and other telecom services.”
L-R: Deputy Governor of Imo State, Placid Njoku; Governor Hope Uzodinma, and Founder, Best of Nollywood (BON) Awards, Seun Oloketuyi, during a visit by BON Awards team to the governor in Owerri…recently Segun Awofadeji in Bauchi
1,000 Benefit from N150m ProgrammeEmpowermentinBauchi
“For the sake of our students who have missed out on account of the strike we expect ASUU to rush back to work at this time and look forward towards repairing the damage that has been done through the strike instead of this resort to financial blackmail,” the two groups said.
“It is professionals that make (or should make) the difference in any system or society by virtue of their advanced training and expertise. In fact, the state of any society is the state of her professions and the quality of her professionals.”
An auto crash involving the convoy of the presidential candidate of the New Nigeria Peoples Party (NNPP), Senator Rabiu Muss Kwankwaso, in Lafia, the Nasarawa State capital, at the weekend claimed the lives of no fewer than six supporters of the party in the state. The presidential candidate of the NNPP was in the state to unveil the Nasarawa State NNPP secretariat in However,Lafia. tragedy occurred when one of buses conveying some supporters of the party lost control in the convoy of the presidential candidate when being used into the state capital and summersaulted killing four people on the spot, while two died later in the hospital. This was even as several occupants of the vehicle sustained various degrees of injury and were rushed to an undisclosed hospital for medical attention. Four of the accident victims died at the spot while two later died in thePresidentialhospital. candidate of the party, Kwankwaso, condoled with the people of Nasarawa State, families of the deceased and the NNPP over the unfortunate incident. Kwankwaso, while addressing stakeholders and other members of the party during a stakeholders’ meeting in Lafia later in the day, promised to address the prevailing security challenges in the country if elected president in 2023. Speaking further, the NNPP presidential hopeful cautioned the party’s supporters against inflammatory and unguarded utterances, saying as a genuine Nigerian, he was ready to salvage Nigeria and wouldn’t want to be seen from a negative angle.
The environmentalists, who spoke on the radio programme, have warned those living on flooding plains to relocate to the high ground to avoid the destruction of lives, property as well as their farmlands. They called on the federal and state agencies saddled with responsibilities to act fast now before it is too late as part of measures to save lives and property.
Francis Sardauna in Katsina A terrorist has been killed by operatives of the Katsina State Police Command following a raid on their enclave at Maizuma village in Danja Local Government Area of theThestate.command, in a statement by its Public Relations Officer, SP. Gambo Isah, said a ring leader of the terror group, one Sule Dawa, escaped with fatal gunshots wound during the fierce gun duel. Isah, in the statement, said two motorcycles, locally fabricated gun, military camouflage uniform, machetes and Dagger, 100 bottles, Indian hemp, sewing machine, cooking gas cylinders, were among the items recovered from the scene. The statement read in parts: “On August 20, 2022, at about 07.30 hours, acting on credible intelligence that terrorists were sighted in a black spot at Maizuma village, Danja LGA of Katsina state, DPO Danja led a team of policemen to the area and engaged the hoodlums into a fierce gun duel. “The team successfully repelled the terrorists and neutralised one of the terrorists. It was reasonably suspected that the ring leader of the terror group, one Sule Dawa, escaped with fatal gunshots wound.” The statement added that the command is making efforts with a view to arresting the gang leader and other members of the syndicate.
Hammed Shittu inIlorin A pro-democracy group, the Kwara Advancement Initiative (KAI), has faulted the Kwara State Government over an alleged failure to pay 18 months salaries of the Community Police Constables recruited by the state government in 2021. The constabulary officers numbering over 1,056 yesterday stormed popular areas in Ilorin metropolis to protest against the non-payment of their 18-month salaries by the state government. A statement issued in Ilorin yesterday by the Head, Democratic Mobilization and Monitoring Desk of KAI, Hajia Adeola Bashiru, described the refusal of the Governor AbdulRahman AbdulRazaq-led government in the state to pay the constabularies their wages “as a shame, wickedness and lack of compassion.”
A real estate training programme has been initiated for students in Akwa Ibom State in an attempt to save young undergraduate students from the negative impact of the ongoing strike by the Academic Staff Union of Universities (ASUU) A budding real estate company in Nigeria, In-Motion Business Limited, the developer of Wana Court Estate in Uyo, Akwa Ibom State capital launched the real estate training programme for students across the In-MotionState.Limited , which is the first Green and Smart Estate developer in the state, inaugurated the Students in Real Estate (SIRE) programme in May 2022, and has graduated the first set of 20 students from the estateandceremony,Speakingprogramme.atthegraduationtheManagingDirectorChiefExecutiveOfficerofthefirm,Mr.GideonEkanem, said the company came up with SIRE as a way of contributing to the peace and security in the state and by extension the country. He posited that the idleness occasioned by the lingering strike by the university teachers was capable of plunging the young minds into various social vices.
Blessing Ibunge in Port Harcourt
Firm Graduates 20 Students in Real Estate Business in Akwa Ibom Ibrahim Oyewale in Lokoja Against the backdrop of the devastating effects of flooding across some states in Nigeria, environmental experts have charged governments at all levels to take proactive measures to mitigate against foreseeable hazards ahead of the impending floods as predicted by the Nigeria Meteorological Agency (NIMET) between now and September.Thisfollowed the heavy downpour of rain in the country, constant increase in the volumes of water in the rivers, and the early warning signs in some states in Nigeria. This was stated in a live radio programme, Politics Today on Federal Radio Corporation of Nigeria (FRCN) monitored in Lokoja last Saturday, stating that it is better to prevent the flooding rather than expecting palliatives to mitigate the dangers and its attendant carnages done by theThefloods.Nigeria Meteorological Agency NIMET had earlier predicted that there would be enormous rainfall across the country in 2022, which may likely caused flooding across 22 states of the federation.
Group Faults Kwara over Failure to Pay Police Constabularies 18 Months Salaries
OUR SCORECARD…
The group said it was insensitive and callous of the state government to refuse to pay the officers more than 18 months after it engaged them. The group queried: “Why did you recruit them if you had no intention of paying them? How do you expect them to take care of their needs and families?” It stressed further that: “The contradictory claims by two top government officials on the matter show that the government is insincere. “
Yinka Kolawole in Osogbo
The Governor of Imo State, Hope Uzodinma, has restated his commitment to the entertainment industry. Uzodinma made this known to the Best of Nollywood (BON) awards team led by the Founder and Chief Executive officer, Seun Oloketuyi, during a recent Accordingvisit.to him, government will continue to support them to achieve their primary objectives., expressing his readiness to give maximum support to the Nigerian entertainment industry as well as make Imo state more conducive for ease of doing business for filmmakers. Speaking to journalists after the meeting, Oloketuyi said the governor has shown dedication to the entertainment industry with his support for practitioners.Oloketuyinoted that being the host of the 2022 edition of the BON awards, Uzodinma has opened his doors wide for the entertainment industry, particularly the movie sector, to contribute to the financial growth of the state’s economy through tourism and complement the governor’s achievement in the state.The award’s executive producer also noted that this is the BON award’s 14th year and the second time the indigenous movie awards will be held in the South-east. He said the award has been to several states including Ogun, Kano, Kogi, Abia, and Rivers amongst others.
The Osun State Chapter of the All Progressives Congress (APC), has condemned the gruesome murder of another chieftain of the party at Apomu in Isokan Local Government Council Area of the state yesterday, barely one month after the Peoples’ Democratic Party’s (PDP) candidate, Senator Ademola Adeleke, was declared the winner of the state’s July 16, 2022, governorship election. The State Chairman of the APC, Mr. Gboyega Famodun, in a statement issued by his Media Adviser, Mr. Kola Olabisi, in Osogbo, the state capital yesterday, stated that it is unbelievable that unsavoury events have now become ubiquitous in the state since the past one month. Famodun, who was apparently disturbed, stated that the killing of the 48-year-old APC chieftain, Mr. Kazeem Alli, popularly known as “Kekere Pasuma,” from Ward 6, who performed actively during the last governorship election, was wicked, callous and highly condemnable.Itwasgathered that some gunmen allegedly sponsored by some stalwarts of the PDP on Saturday killed the APC chieftain.Information also has it that the deceased, who was the chairman of the National Union of Road Transport Workers (NURTW), in the local government has been receiving series of death threats since the conclusion of the governorship election.
Governorship Candidate of the Action Democratic Party (ADP) in Rivers State, Mr. Victor Fingesi, has promised to rebuild the state’s economy if elected in the 2023 general election. The governorship candidate noted that the problem faced by Rivers people is poverty, which according to him, has led to the increase in criminal activities in theFingesistate. spoke yesterday while addressing journalists at the party’s secretariat in Port Harcourt. He said: “Empowerment implies the building of the unskilled individual to become self-sufficient through applicable skills that can easily generate incomes and make the individual self-sustaining. We will bring mentoring experts and skill trainers from functional economies to come transfer skills and knowledge to our people which will rebuild the economy of Rivers State to our desires and dreams. “Rivers State has all it takes to be amongst the richest in the world. We have the best terrain for all forms of agricultural production. With over 250, 000 hectares of fertile arable land, and rich water ways, Rivers State can lead an agricultural revolution across LGAs. Where we can grow our food and feed the rest of the“Aworld.perfect location for industrialisation and agricultural production, especially as we already have seaports and airport. This will create massive employment that can stem the rural to urban migration of youths in search of jobs, make each locality independent and self-sufficient.”Fingesi,who said over 1.7million youths are jobless in the state, regretted that Rivers State has not experienced good leadership lately. Fingesi explained: “My dear Rivers People, the major problem we have is poverty. Poverty is the reason why we are having an increased rate of crime and insecurity.“Astate that is blessed with natural and human resources, generating N57.3 billion annually yet having over 1,714,188 unemployed youths, 188,590 out of school teenagers (as recorded by the Nigeria Bureau of Statistics), clearly shows that something is not right. Obviously, that is leadership!”
ADP Guber Candidate Promises Better Economy for Rivers
Igbawase Ukumba inLafia
Six Killed in Kwankwaso’s Convoy Auto Crash in Nasarawa
L-R: Independent Director, Anchor Insurance Company Limited, Mr. Akinola Taiwo; Managing Director/CEO, Mr. Ebose Augustine; Chairman, Mr. Elijah Akpan; Company Secretary/ Legal Adviser, Mr. Ime Umoh, and Director, Mr. Chris Attah, at the 32nd Annual General Meeting of Anchor Insurance Company Limited held in Lagos…recently SUNDAY ADIGUN Okon BasseyinUyo
61MONDAY AUGUST 22, 2022 THISDAY NEWSXTRA
Osun APC Bemoans Killing of another Party Chieftain by Suspected PDP Thugs
Uzodinma Restates Commitment to Supporting Entertainment
Police Raid Terrorists’ Enclave, KillOne, Arrest Informant in Katsina
Environmental Experts Task FG, States, Riverine Communities on Dangers of Flood
Siemens Group, EAE, NCDMB Retrain Teachers in Bayelsa
I’ll Prioritise Education if Elected Ebonyi Gov, Says Odoh Ibrahim Shuaibu in Kano
Olusegun Samuel in Yenagoa A non-government organisation (NGO), Empowering Africans Through Education Initiative (EAE), Siemens Stiftung and the Nigerian Content Development and Monitoring Board (NCDMB) in partnership with Siemens Energy have ended the second phase of the Experimento STEM Training in Nigeria for educators of primary and elementary schools in TheBayelsa.training was created for educators, especially the in-service classroom teachers of elementary and secondary schools by providing practical and modern-based teaching of science and technology to strengthen students and youths understanding of science and technology.Thetwo weeks training workshop focused on experiments on energy, the environment, and health that convey relevant knowledge on subjects central to the development of the African youths, especially in Nigeria. The Co-founder and Executive Director of EAE, who spoke at the opening ceremony at headquarters of NCDMB in Yenagoa, Bayelsa State, said expanding STEM education (science, technology, engineering, mathematics) was a crucial part of education policies in the world.
The Kano State Deputy Governor and All Progressives Congress Gubernatorial Candidate, Dr. Nasiru Yusuf Gawuna, has said that he possesses the requisite experience to govern Kano State. Appearing on the Nigerian Television Authority’s programme “Political Update” over the weekend, he explained that as someone who served in three administrations as a twoterm former local government chairman, three times former commissioner of agriculture and currently the deputy governor of the state, that has given him the edge of quality above other“Kanoaspirants.people are there to judge because they know which candidate has the credibility and capacity to lead them, with their support we are going to win the election.
The Governor-elect of Osun Sate, Ademola Adeleke, yesterday accused the administration of the incumbent Governor, Gboyega Oyetola, to have embarked on systematic disposal and diversion of the state financial and physical assets. But in a swift reaction, Osun State Government has described as illogical and false the allegation byInAdeleke.astatement issued and made available to THISDAY yesterday by Adeleke’s spokesman, Rasheed Olawale, titled: ‘Stop ongoing diversion of government assets and funds’, he said credible reports from within the state government confirmed that the process of illegal mopping up and diversion of government assets and fund is not limited to local governments as we earlier cried out, but is now a multi-sectoral activities across all facets of Osun State Government.Helisted the alleged nefarious activities that Oyetola administration has commenced, including the disposal of government vehicles, both old and“Reportsnew. confirmed that the clandestine disposal of the vehicles also covered the newly purchased pilot cars acquired by the state government few weeks to the last governorship elections. We warn buyers to be aware of the illegality and immorality of the exercise and stay clear of partaking in such criminal auction,” he said. Others, he said: “We are aware of a grand plot to secure and divert the $43 million World Bank funded third batch of O-RAM meant for Osun State. We call on the Federal Ministry of Finance and the World Bank to halt any disbursement as there are reliable information on schemes and plots to divert the fund.”
Ibrahim Shuaibu in Kano
Adeleke Alleges Oyetola Diverting Govt’s Assets, Funds
The National Executive Council and members of the Nigerian Bar Association (NBA) yesterday specially invited the presidential candidate of the Social Democratic Party (SDP), Adewole Adebayo, as guest to its annual general conference. Adebayo is a lawyer and founder of Kaftan TV. The NBA conference which is the leading event of the body and a main feature of the annual calendar of the Nigerian legal profession is billed to hold from Monday, August 22, 2022. The invitation was conveyed in a letter signed by Chairman, Technical Committee on Conference Planning, Tobenna Erojikwe.Erojikwe wrote: “On behalf of the National Executive Council and members of the NBA. I write to formally invite you, as a guest to the 62nd Edition of the Annual General Conference of the NBA (the NBA Conference) scheduled to hold from 19th to 26th August 2022, in Lagos State. “Accordingly, we will be delighted to welcome you as a guest to the Conference, particularly the opening ceremony, which is scheduled to hold on Monday 22nd August 2022, as well as a special session that will follow immediately after, titled ‘Democratic Transitions in the 21st Century Nigeria: 2023 and Beyond.”
2023: I have Experience to Lead Kano People, Says Gawuna ABIA APC UNVEILS EMENIKE’S RUNNING MATE…
L-R: Abia State All Progressives Congress (APC) Women Leader, Mrs. Cecilia Chino Erondu; Running Mate to the APC Governorship Candidate, Mrs. Gloria Nanya Akara, and the candidate, Chief Ikechi Emenike, during the unveiling of Akara at Item, Bende Local Government in Abia State… yesterday Michael Olugbode inAbuja Indigenous crude oil production company, Oriental Energy Resources Limited, has completed and handed over new and upgraded essential teaching and learning facilities to Community Primary School in Ibuot Utan in Effiat, Mbo Local Government Area of Akwa Ibom State.The event took place on August 18, 2022, demonstrating the company’s commitment to education and human capital development in the state, especially in Effiat community. A statement issued yesterday by the company said prior to the project by Oriental Energy, the Community Primary School, with more than 60 pupils and a total of four classrooms barely had seats in the crumbling classrooms, no restroom, and no uniforms nor shoes for most of the children, adding that Ibuot Utan is a small village within the island of Effiat which is relatively isolated from the mainland part of Mbo LGA. According to the statement, “The restoration and provision of new facilities by Oriental Energy is part of its wider initiative of building safe schools to support inclusive and quality education across communities.”
A non-governmental organisation, Good Governance Initiative (GGI), led by a Public Affairs analyst based in Sango-Ota, Ogun State, Alhaji Malik Ibitoye, has called on President Muhammadu Buhari and the Minister of Works and Housing, Mr. Babatunde Raji Fashola, to expedite action on the reconstruction of the LagosAbeokuta expressway.
The Kano State Government is set to host the 28th National Council of Works Meeting today (Monday) and ends next Friday. The state commissioner of Works and Infrastructural Development, Engr. Idris Wada Saleh disclosed this in his office on Sunday, saying the council meeting is an annual event that brings together all stakeholders across the 36 states of the federation including Abuja and deliberate on issues pertaining to the works sector.
Benjamin Nworie in Abakaliki Ebonyi State governorship candidate of the All Progressives Grand Alliance (APGA), Prof Ben Odoh, has said education would be his priority if elected governor in He2023.promised to lead the development and implementation of a legal and policy framework that would make education accessible and affordable in the state. Odoh, who stated this in Abakaliki at the weekend, noted that his administration’s policies on education would focus on developing digital literacy, critical thinking, practical and hand-on learning as well as ensure that every child has equal opportunities at the basic level. “Under my leadership as your governor, I’ll lead the development and implementation of legal and policy framework that will make basic education accessible and affordable. All Ebonyi children under 16 years of age must be in school learning.”
Defection of Leaders Worries Kwara APC Chieftain Emameh Gabriel
The group made the call in a statement telling Fashola that the dilapidated condition of some portions on the road was causing negative publicity for the All Progressives Congress (APC)-led government. Ibitoye said in the statement signed by him that the Sango area of the road as well as other parts stretching from Ijaiye to Kola, Alakuko, Toll Gate Bus Stop and other parts of the road on the way to Abeokuta, the state capital, has become eyesores and a source of embarrassment to both the state and federal governments. While saying that the state Governor, Prince Dapo Abiodun, is known to be proactive in the area of infrastructural development, the analyst said it is obvious that many residents of the state are ignorant of the demarcation of roads as local, state and federal roads, adding that the issue has led to bad publicity for the APC.
NGO Urges FG to Expedite Actionon Lagos-Abeokuta Expressway
Governor Abdullahi Umar Ganduje is billed to be the Special Guest of Honour while the Minister of Works and Housing, Mr. Babatunde Raji Fashola (SAN is to chair theTheoccasion.Minister of State, Works and Housing, Honourable.Umar Ibrahim El-Yakub, commissioners, permanent secretaries of ministries of Works across the country, heads of relevant government agencies and other stakeholders are all expected to attend the 5-day meeting held at the Bristol Palace Hotel.
Oyetola says allegation illogical NEWSXTRA Yinka Kolawole in Osogbo
SDP Presidential Candidate, Adebayo Invited as Guest at NBA Conference
MONDAY AUGUST 22, 2022, THISDAY62
James Sowole inAbeokuta
He emphasised that reliable reports from the State Primary Education Board (SUPEB) hinted of an alleged elaborate movement of fund through several frivolous contract awards among others. “We remind functionaries of the agency that we are in custody of all assets and holdings of SUPEB and any attempt to defraud the agency will be visited with strict accountability and legal enforcements,” he said.
National Council of Works Meeting Kicks Off Today in Kano
Oriental Energy Hands over Facilities to Community Primary School in A’ Ibom
Hammed Shittu in Ilorin A chieftain of All Progressives Congress(APC) and advocate of “O To Ge” mantra in Kwara state, Alhaji L. A.K Jimoh, has said that the defection of some notable leaders of the party and the depletion in the party may pose a serious danger towards the party’s electoral victory in the 2023 general elections. He, however, said that these leaders that have left the party were those that worked for the electoral victory of the APC during the 2019 general elections and this situation is an unfortunate scenario.Jimohmade the remark in Ilorin in an interview granted to online medium in the state, Midland Post and obtained by journalists in Ilorin over the weekend. According to him, “four former aggrieved members of the APC are now gubernatorial candidates on different political party platforms. “It is a big minus to the APC, knowing fully well that they have formidable followers in the state”. He added: “The four former aggrieved members of the party now contesting the gubernatorial election on different platforms include, Alhaji Yaman Shuaib Abdullahi, of the PDP, Professor Shuaib Oba Abdulraheem, of the NNPP, Alhaji Yakubu Gobir, of the YPP and Alhaji Hakeem Lawal of the “TheSDP.four aggrieved members played prominent roles and worked very hard to ensure the party’s victory in the 2019 elections, but were frustrated out of the party. “Their defection to other parties has seriously depleted the APC, with serious implications for the ruling APC in the state in 2023.
GOtv
Pinnick: Enough is Enough to Violators of NFF Statutes Stars Win Maiden Ogunjobi Tourney Boxing Night 26: Abuchi, Win N1.5m Prize
Light welterweight boxers,Bartholomew Abuchi and Yusuf Ogunbunmi, Saturday, won N1.5million for emerging the best boxer and runner-up respectively at GOtv Boxing Night 26. The eightbout boxing show took place at the Molade Okoya Indoor Sports Hall, Teslim Balogun Stadium, Lagos. Abuchi, who defeated Samuel “African Mayweather” Adebayo by unanimous decision, was adjudged the best boxer of the night, thereby winning the Mojisola Ogunsanya Memorial Trophy and the N1million cash prize attached to it. The runner-up, Ogunbunmi’s performance in the keenly contested bout against Kabiru “KB Sniper” Salawu, which he won by split decision was adjudged the secondbest of the night.He became the first winner of the N500,000 runner-up prize whichwas introduced at this edition of the GOtv Boxing Night. GOtv Boxing Night 26 hosted eight bouts instead of the traditionalseven. In the International featherweight challenge, Taiwo “Esepor” Agbaje was in a killer mood, as he saw off his Ghanaian opponent Emmanuel “Agogo” Mensah in dismissive fashion, knocking him out in the seventh round.Afonja "Afonja Warrior" Rasheedfailed to make a dream return to the show, as he was knocked out by Sulaiman “Armour Tank” Jafaru in their super welterweight clash. Winner of the Mojisola Ogunsola Trophy at GOtv Boxing Night 25, Stephen “Freeman” Kadima, was unable to repeat his heroics thistime around as he was held to a draw by Muritador Monyashau in the national cruiserweight duel,the same outcome was recorded in the lightweight clash between Ayobami "Latest" Azeez and Sodiq "Golden Boy" Oyakojo. In another lightweight bout, Prince “Lion” Nwoye defeated Funsho Moshood by split decision.In superthe Bantamweight division, Tosin “Soja Boy” Osagbovo knocked out Tajudeen Amusa. Meanwhile, ten fans at the boxingevent won GOtv decoders which came with a one-month subscription via lucky dips held between bouts. The raffle draw was a gesture of appreciation by the sponsors for the support the fans have shown since the boxing event debuted in 2014.
MONDAYSPORTS Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com08111813083SMSONLY
L-R: Coordinator of the Western Nigeria Football Forum, Barrister Seyi Akinwunmi; son of late Taiwo Ogunjobi, Lanre; and Captain of Remo Stars U15, Olasunkanmi Abass, during the presentation of winners trophy to the Ikenne-based team on Sunday in Osogbo
Cash
The Nigerian international who caused the Italian FA to institute an enquirer and fine Verona 12,000 euros ($12,200) for insulting racists chants directed at him last Monday, doubled Napoli lead late in the first half. Osimhen went direct at goal after he got to the end of a through ball from his team’s half of the pitch.The former U17 World Cup winner with the Golden Eaglets in 2015 grabbed the second goal in the 46th minute after Khvicha Kvaratskhelia had given Napoli the lead in the 35th minute. Kvaratskhelia scored his brace in the 62nd minute before Kim Min-jae made it 4-0 in the 92nd minute to seal the maximum points.Osimhen was however substituted in the 84th minute by Adam Ounas.
Remo Stars FC cadet team defeated their Osun State counterparts 1-0 to lift the maiden Western Nigeria Football Forum’s Taiwo Ogunjobi Memorial Under-15 Tournament. The match played at the Ataoja School of Science football pitch in Osogbo, Osun State attracted who-is-who in the South West region’s football space. It attracted all the chairmen of State Football Associations in the South West zone in attendance. They include; Gani Majekodunmi (Ogun), Bayo Olanlege (Ekiti) , Otunba Sunday Dele-Ajayi) , (Ondo), James Adeniran (Oyo), Barrister Seyi Akinwunmi (Lagos) and Alhaji Mustapha Abulrasaq (Osun).Three former Secretary Generals of the NFF, Dr Tijani Yussuf, Dr Bolaji Ojo-Oba and Fanny Amun were in attendance to honour another former Scribe of the federation, Ogunjobi, in whose honour the tournament wasPresidentinstituted.ofNigeria Referees Association, Tade Azeez, was also there two former Shooting Stars legends who played with late Ogunjobi both at club and national levels, Felix Owolabi and Idowu Otunbusi. There was also another former a Shooting Stars legend, Mutiu Adepoju. President General of the Nigeria Football Supporters Club worldwide, Dr Rafiu Ladipo and son of the deceased football administrator, Lanre Ogunjobi, also witnessed the final that was capped with an award ceremony later in the night.
Ogunbunmi
U15
Remo
Victor Osimhen
MONDAY, THISDAY 63
Kamaru Usman was stunned by Leon Edwards who landed a vicious kick that knocked out the Nigerian ...early hour of Sunday to court. Every single day, they want to go to court. It is their right, but it is also the right of the NFF to curtail such excesses. FIFA clearly stipulates that football matters are not meant for civil courts, and further infractions by anyone would be met with the stiffest of sanctions, including but not limited to outright ban from the game.” Article 69 (1) of the NFF Statutes 2010 stipulates: “NFF, its members, players, officials and match and player’s agents will not take any dispute to ordinary courts unless specifically provided for in these Statutes and FIFA regulations. Any disagreement shall be submitted to the jurisdiction of FIFA, CAF, WAFU or (2)NFF.NFF shall have jurisdiction on internal national disputes i.e, disputes between parties belonging to NFF. FIFA shall have jurisdiction on international disputes, i.e, disputes between parties belonging to different Associations and/or Confederations.”The77thAnnual General Assembly of the NFF was delayed for eight months because some persons went to court to secure an ex parteinjunction, stopping the event from holding as scheduled on 17th December 2021.
Warns they risk outright ban from all football matters
The former Lille of France frontman who remained unfazed by abuses of black players prevalent in the Italian topflight has started the new season on a brilliant note and may fulfill his ambition of hitting double digits and emerge as top scorer thisLastseason.Monday in Verona, Osimhen was among the scorers in Napoli’s 5-2 thumping of the home team to kick off their season in Flying colourful. A section of Verona’s supporters launched monkey chants at Osimhen, the latest episode of racist chanting at the club with a long history of far-right sympathies among their hardcore fans.Napoli, who finished runnersup last season to AC Milan, have now won their first two games while scoring nine goals.
Taiwo
Kamaru Knocked out Hours After AJ Loses to Usyk
Following the spate of court matters that have dogged Nigeria’s football in the last decade and half, out-going President of the Nigeria Football Federation and FIFA Council Member, Mr Amaju Melvin Pinnick, at the weekend warned that violators of the FIFA-approved NFF Statutes risk several sanctions, which ban from football affairs. Pinnick, who is also a Member of the CAF Executive Committee, made this statement in the light of further threats by certain forces within the football ecosystem to drag Nigeria football to court for nothing more than peaceful conduct of the 77th Annual General Assembly that took place in Lagos last Thursday. “I want to say that enough is enough. We have tolerated these individuals for much longer than necessary. I am leaving the position of NFF Presidency in a few weeks but I am still a Member of the FIFA Council and I can talk about Nigeria Football anywhere. It is time to call the bluff of these persons. Their actions not only malign and defame the NFF; these also de-market the NFF to a certain degree.“Ifthe NFF holds a General Assembly, they go to court. If the NFF does not hold, they go A Britain's Leon Edwards sensationally knocked out Kamaru Usman to win the welterweight title at UFC 278 in Salt Lake City, Utah just few hours after former Boxing world heavyweight Anthony Joshua lost his rematch with Oleksandr Usyk in a split decision. Behind on points in the fifth, Edwards, 30, landed a left high-kick to stun Nigeria's pound-for-pound number one fighter, Kamaru. Edwards becomes the first British champion since Michael Bisping in 2016 and only the second in history. "You all doubted me, saying I couldn't do it - look at me now," said"I'mEdwards.fromthe trenches. I'm built like this. I've been doubted my whole life but look at me now." In beating Usman, Birmingham's Edwards avenges his defeat in 2015 and ends the 35-year-old's 15-fight unbeaten streak in the UFC. Jamaican-born Edwards, who was a big underdog with bookmakers going into the bout, extends his winning streak to 10 since the defeat by Usman seven yearsUsmanago. won the first fight by using his wrestling to control the majority of the contest - a tactic Edwards says opened his eyes to weaknesses in his own grappling game.Following that bout Edwards worked hard on his wrestling and the improvements made were evident from the start of the rematch. In the first round he tripped Usman, becoming the first fighter in UFC history to complete a takedown on the UsmanNigerian.responded strongly in the second and third rounds, pressuring Edwards with flurries of strikes and controlling much of the contest with his grappling. At the end of the round Edwards' corner loudly urged their fighter to up his game and "get his hands moving".Edwards started to show signs of fatigue in the fourth, brought on by the relentless grappling from Usman, as the champion landed an effortless takedown and continued to control the fight.
SERIE
Duro Ikhazuagbe Super Eagles forward, Victor Osimhen, was yesterday again on target in his second straight Italian Serie A game this new season as Napoli hammered Monza 4-0 at the Diego Armando Maradona Stadium in Naples. Napoli are on same six points as Inter Milan at the top of the Italian topflight.
Osimhen Bangs Two Goalsin Two Games for Napoli
As a trained Zoologist, former ground-level lecturer in Biological Sciences and a onetime ASUU member who has long since forgotten how to go on strike, I cannot stand idly by and watch human beings malign, ridicule, besmirch and smear the names of other animal species. Rising to the defence of animal species is my equivalent of constituency project. I am not discouraged by the fact that there is no vote for it in the padded Federal, state, local government or even NGOOnlybudgets.lastweek, some people tried to drag the name of termites into the mud by alleging that they ate N17billion worth of project vouchers. Managing Director of Nigeria Social Insurance Trust Fund [NSTIF] told a Senate Public Accounts Committee public hearing that termites ate the vouchers inside a container. Auditor General of the Federation’s 2018 audit report had said the Fund could not provide documents to support the payment of these sums to some companies and individuals. Since the committee is unlikely to summon termites to defend themselves, I must take up the case on their behalf. It was not the first time in Nigeria that officials tried to shift the blame for missing monies to animals, capitalizing on the biological fact that their language and that of human investigators are not mutually intelligible. Two years ago, in June 2019, a finance officer at the Kano Zoological Garden tried to besmirch the name of gorillas by alleging that a gorilla ate N6.8m in gate takings from the Sallah period. He said, most implausibly, that the gorilla sneaked into their office, carted away the money and swallowed it. Before public uproar forced them to retract, Kano State Police Command initially lent credence to the story by stating they would arrest the gorilla. A year earlier, in February 2018, when JAMB Makurdi office staffer Mrs. Philomena Chishe could not account for N36m of the board’s money, she alleged that a snake swallowed it. She brought the name of snakes into ridicule and odium and lowered their esteem in the eyes of the public. Whatever happened to the old human tradition of respecting one’s elders? Here we are, trying to drag into the mud the reputations of animal species much older than ourselves in evolutionary time. Gorillas first evolved on this Earth 55 million years ago. That was a full 48 million years before the first ape-like creatures walking on two legs, which later became humans, appeared in Africa
MD NSTIF, Dr Michael Akabogu and later spread to other parts of the world. A human child today is taught to respect someone a few years older than himself or herself. How about respecting an ape 50 million years older than your greatTermitesgrandfather?ontheir part evolved 120 million years ago. The NSITF officer, who is less than 60 years old, has the temerity to point accusing fingers at such an elder. Snakes that Mrs. Chishe tried to malign have been on this Earth for 130 million years. In all that time they never swallowed anyone’s money, until JAMB left a sack of it lying around? Just like Nigeria is divided into regions, geopolitical zones, states, emirates and local governments, the Animal Kingdom is divided into phyla, classes, orders and families. Having earlier rushed to the defence of snakes and gorillas when they were first accused, if I do not now rush to the defence of termites, some animals belonging to other orders would accuse me of not reflecting the federal character of the Animal Kingdom in my defence against libel and defamation. Just like Nigeria’s main fault line is North versus South, Animal Kingdom’s main fault line is Vertebrates versus Invertebrates. Termites will say I defended snakes and gorillas because they are my fellow Vertebrates. They may even call it a Vertebrate/Vertebrate ticket. Simply because animals do not make their speech comprehensible to the human ear is not a reason for humans to make unfounded allegations against them and assassinate their character. It is not their fault that the human ear cannot decipher the language of other animals. We hear birds singing, cocks crowing, dogs barking, frogs croaking, cats mewing and sheep bleating, but we do not know what they are saying to one another. Human beings have, since the time of the Swedish taxonomist Carolus Linnaeus, sat down and arbitrarily assigned binomial scientific names to nearly nine million animal species. They arrogantly assigned to their own species the name Homo sapiens. This means “wise man,” allegedly because humans have the highest overall intelligence among all animals and have been able to cruelly subjugate them. Otherwise, what is wise about human beings? In the last two hundred years alone, we drove many animal species to extinction, in total disregard of the fact that it took hundreds of millions of years for these species to evolve and that all our fate is linked together. Without them, we will not be here. Which “wise man,” when we humans invented, built, assembled and deployed thermonuclear weapons and regularly threaten to use them? Which other animal species ever sat down and invented weapons designed for mass murder? My former lecturer said apart from humans, the only other animal that kills for reasons other than food and defence is the weasel. A weasel that was experimentally placed in a cage with numerous rats killed everything that moved, just for the heck of it. At the height of the Cold War in the late 1980s when the nuclear powers’ arsenals were at their peak, scientists calculated that in an all-out war between the super powers, millions of people will die from explosions. Millions more will die from fire and radiation. Hundreds of millions of injured ones will also die from lack of medical help because any doctor that survives nuclear war will be out of his senses. Next, dust and smoke from explosions will envelop the world in darkness for six months, leading to the death of all green plants, so there is no food. Besides, all sources of water will be radioactively contaminated. Yet you call yourself wise man! NSTIF officials that claim that termites ate their vouchers. You know that your vouchers were made of paper, paper is made from wood, wood is the food of termites, and you left sacks of them lying in the open for years, just to create an alibi. Who told NSTIF that termites can digest
–Chairman,NGFandEkitiState
TRUTH & REASONMonday, August 22, 2022Price: N250 Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com MISSILE Governors to Malami tojudgment“GovernorsextensivelyreviewedthepurportedattemptsbytheAttorneyGeneraloftheFederationandtheMinisterofFinance,tocircumventthelawandarecentoftheSupremeCourttosecuretheapprovalofthefederallegislativecouncileffectillegalpaymentofasumof$418milliontocontractorswhoallegedlyexecutedconsultancyinrespecttotheParisClubrefund…”
Termites are Suing for Libel wood? Wood contains cellulose, one of the most difficult products to digest in an animal stomach. In an old Advanced Physiology textbook I read many years ago, there was a section called “Special digestive challenges.” Cellulose was listed alongside bone, hair, hooves, horns and claws among the most difficult things for an animal stomach to digest. Digesting it requires the enzyme cellulase, which is very rare. Even termites do not have cellulase. Clever brats that they are however, they cultivate in their guts protozoans that possess the enzyme. When a termite eats wood, the protozoans will digest it, feed on some and leave the rest for the termite. The Kano Zoo officials who accused a gorilla of swallowing gate takings, are they crazy? What is a gorilla’s own with money? Have you ever seen a gorilla with a cheque book, or standing before an ATM machine with a debit card? Of all animals, is it the gorilla that we should libel, defame and besmirch? Gorilla is a great ape, our second cousin in evolutionary time. The only animals that are biologically closer to us than gorillas are chimpanzees, our first cousins in the Animal Kingdom. There are solid scientific reasons for this classification. An ape’s brain is quite large; they live in complex social groups; they have a language of their own and they even use tools, a rarity in the Animal Kingdom. A gorilla therefore knows what to eat and what not to eat. Even if it tears apart a wad of naira notes out of sheer mischief, a gorilla is smart enough to determine that a naira note is not food and will not eat it. Remember, Kano State Police Command’s spokesman even said the police would not hesitate to arrest a gorilla or any other animal linked to the missing money. Arrest a gorilla? Which policeman in Nigeria can handcuff it? Many years ago at the same Kano Zoo, people were fond of giving banana to the gorilla through its cage wires. The zoo’s management pasted a notice and warned people to desist, because a gorilla is seven times stronger than an adult human and if by chance it grabs a man’s hand, it could easily yank it off. Anyway, as part of my constituency project, I have engaged a firm of lawyers to file a suit at the Federal High Court, seeking an ex-parte interlocutory order of perpetual injunction to restrain NSITF, Chairman and members of Senate Public Accounts Committee and their agents, servants or privies from publishing, broadcasting, texting, emailing, tweeting, pinging or otherwise circulating this allegation that termites ate payment vouchers worth N17 billion.
MAHMUDJEGA VIEW FROM THE GALLERY
Governor,KayodeFayemi,beratingMalamifornotactinginnation’sinterestontherefund.
