THURSDAY 9TH SEPTEMBER 2021 by THISDAY Newspapers Ltd

NNPC’s Assets Rise by 18.7% as Corporation Publishes 2020 Audited Results Emmanuel Addeh in Abuja For the third time since it was established 44 years ago, the Nigerian National Petroleum Corporation (NNPC) yesterday

officially released its Audited Financial Statement (AFS) for year 2020. With the development, the corporation has now joined other state-owned global oil concerns

that publish the details of their operations, to among others, boost investors' confidence and enhance business transparency. President Muhammadu Buhari last month announced a profit

after tax (PAT) of N287 billion for the NNPC for the financial year ended 2020 and had directed the corporation to ensure prompt publication of its AFS in line with the requirements of the law.

The latest financial statement of the national oil company showed that aside the already announced PAT, from a loss position of N1.7 billion in 2019, to N287 billion in 2020, NNPC's

total current assets increased by 18.7 per cent compared with that of 2019, while its total current liabilities increased by 11.4 per Continued on page 48

FG Approves 5G Network For Nigeria ... Page 5 Thursday 9 September, 2021 Vol 26. No 9649. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

FIRS: Why We Are Against States’ Collection of VAT

Says it works only at a national level and not at sub-national Wike alleges plan to move appeal from Port Harcourt to Abuja court Lagos, Ekiti move to join Rivers in legal tussle

James Emejo in Abuja and Blessing Ibunge in Port Harcourt The Federal Inland Revenue Service (FIRS) yesterday explained its opposition to the administration of Value Added Tax (VAT) by states in the country, saying it might stifle businesses and investments. The federal agency insisted that the decision of the Federal High

Court to grant powers to states to administer VAT would make it difficult for businesses to thrive. This is just as it was gathered that the FIRS recently wrote to the National Assembly for an amendment of the constitution to accommodate VAT in the Exclusive Legislative List of the Continued on page 48

Report: Terrorists Launched 500 Attacks on MNJTF, Killed 2,368 Soldiers Using State Weapons Stockpile of seized state arms after attacks sustained 12-year insurgency Findings cite corruption, diminished morale for loss of equipment We’re winning the war against insurgency, says DHQ Kingsley Nwezeh in Abuja A research paper prepared for the European Peace Facility (EPF), a European Union project for peace support operations across the globe, has revealed that terrorist groups,

Boko Haram and the Islamic State for West African Province (ISWAP), had launched 500 attacks on military bases and formations of the Multi-national Joint Task Force (MNJTF) between 2015 and 2020. Continued on page 48

FOR THE PRESIDENT'S ATTENTION... Secretary to the Government of the Federation, Mr. Boss Mustapha (left) and President Muhammadu Buhari at the Federal PHOTO: GODWIN OMOIGUI Executive Council (FEC) meeting held at the Presidential Villa in Abuja... yesterday

Kogi: EFCC Now Tool of Oppression, Opposition Parties Tell Buhari... Page 49

THURSDAY SEPTEMBER 9, 2021 • T H I S D AY

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

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

NEWS

FG Approves 5G Network for Nigeria Says ITU, WHO have certified it medically safe Reveals its radiation lower than 4G's Telcos say they're ready to rollout Deji Elumoye in Abuja, Emma Okonji and Nosa Alekhuogie in Lagos The Federal Executive Council (FEC) has approved the Fifth Generation Network, otherwise known as 5G for the nation. The Minister of Communications and Digital Economy, Dr. Isa Pantami, who disclosed this yesterday while speaking with newsmen at the end of the weekly FEC meeting presided over by President Muhammadu Buhari, also revealed that the Council in approving the 5G took cognisance of the report of the International Telecommunications Union (ITU) and the World Health Organisation (WHO) that pronounced it safe to human health. In support of the move by the federal government, telecommunication operators (Telcos), under the aegis of the Association of Licensed Telecoms Operators of Nigeria (ALTON), yesterday said Nigeria was ready in terms of infrastructure for 5G rollout across the country. Continuing, Pantami revealed that the radiation of the 5G Policy

is lower than that of 4G currently in use by Nigerians while the deployment of the policy which is with immediate effect will be carried out in phases between now and 2025. The Minister listed the benefits of the policy to include higher data rate, larger capacity, lower latency while it will also open many opportunities economically, academically and render necessary support to the security agencies in areas where they need high quality frequency. Pantami also explained that it took government close to two years to come up with the 5G Policy because of the initial resistance by stakeholders. He said: "I presented before the Federal Executive Council, which has also been approved after deliberation. That is the National Policy on Fifth Generation Networks for Nigeria's digital economy, the national policy on 5G. So, that policy has been approved by the Federal Executive Council today. “Furthermore, the policy discusses the benefits to be attained through the deployment of 5G in Nigeria and in any part

of the world which includes lower latency, larger capacity, and higher data rate. “These are the three major benefits of fifth generation. And in a simple language, we can say it will open many opportunities economically, academically, educationally and even in health sector. And it will also support our security institutions, particularly in areas where they need high quality services. “So, these are some of the benefits to be anticipated when fifth generation or 5G is deployed in Nigeria.” He noted that prior to that, in 2020, “there was a time that we started working, and we started the fifth generation trials. And there was a complaint from citizens about the relationship between 5G and COVID-19. “Because our government is a responsible one, we put everything on hold. We engage more stakeholders. We spend almost 18 months working on that. And we also wait for the resolution and verdict of the two most important organisations globally when it comes to the deployment

of telecommunications facilities. “These are firstly International Telecommunications Union. That is ITU, which is an arm of the United Nations, and also World Health Organisation, that is WHO, which is another arm of the United Nations. Both of them confirm that there is no any adverse health effects of 5G and it has not been proven to be any harmful to our health.” According to him, its deployment would be in phases, saying it would start from major cities in Nigeria, where there is need for very high quality broadband. “So, only few places will start to benefit from it. And we do hope that the plan will come up immediately. That will show that from now to 2025, we will be able to ensure that significant towns and cities in the country will also benefit from 5G," he noted. He added that stakeholders meeting were held in six different stages including the National Assembly before the presentation of the memo to the FEC for approval on Wednesday. He also revealed that the National Frequency Manage-

ment Council (NFMC), under his Chairmanship would soon release spectrum to the Nigerian Communications Commission (NCC) for the Mobile Network Operators (MNOs) that meet all the required conditions. The NCC, as the regulator of the telecommunications sector, will continue engaging stakeholders with a view to developing the regulatory instruments required for the successful deployment of the technology in Nigeria, he added. “With the approval of this national policy on fifth generation, or 5G, NCC has been directed to start working immediately to come up with regulatory instrument that will ensure its safety, and many more. “Our government gives more priority and preference to the health and security of our citizens as stipulated in the Constitution of Nigeria 1999 as amended under Section 14, Subsection 2 Article B. So, that is why our subsidiary legislation is going to be developed to ensure that 5G will only be useful in Nigeria, and we cannot allow it to be harmful in any place". Patami stressed that the 5G

THE FEC CAMARADERIE… L-R. Minister of Labour and Employment, Chris Ngige; Attorney General and Minister of Justice, Abubakar Malami and Minister of State for Budget and National Planning, Clement Agba, during a virtual Federal Executive Eouncil (FEC) meeting at the Presidential Villa in Abuja... yesterday PHOTO: GODWIN OMOIGUI

Oil Production Optimisation Critical to Economic Recovery, Says DPR Emmanuel Addeh in Abuja The Department of Petroleum Resources (DPR) has said that optimising Nigeria’s oil production processes remains a critical factor in the nation’s economic recovery drive and getting the full benefits of the country’s resources. A statement by the General Manager, Public Affairs of the organisation, Mr. Paul Osu, quoted the Director and Chief Executive Officer, DPR, Mr. Sarki Auwalu, as having made the comment during a meeting with technical teams from the oil and gas industry in

Nigeria. Aside production optimisation, Auwalu identified five other important pillars to its strategy for Maximum Economic Recovery (MER) for the industry, stressing that the objective of the strategy was to maximise the expected net value of economically recoverable petroleum from Nigeria's acreages. He listed items in the strategy to include reserves maturation and production optimisation, exploration and resources maturation as well as improved Oil Recovery and Enhanced Oil Recovery (IOR/EOR) implementation in the industry.

According to him, the list also includes asset stewardship, performance evaluation and rewards as well as risk management which would help protect investments, business continuity and sustainability, improved collaboration and cost reduction in the oil and gas sector. Auwalu reiterated that the federal government, through the MER strategies, was targeting to increase the nation's oil reserves from 36.91 billion barrels to 50 billion barrels in the short to midterm as well as targeting increasing Nigeria's proven gas

reserves from 206.53TCF to 250TCF. He stated that as part of the MER strategy, the DPR had initiated an annual awards for companies, projects or individuals who have added value to the Nigerian terrain through improved and enhanced recovery of the country's oil and gas resources. "As part of the government's obligation, it will encourage investment in Nigeria by creating a stable, competitive and predictable business environment. The government will encourage existing technologies to be deployed to full effect to maximise full economic

recovery of Nigerian resources. "The government will also promote active exploration for new oil and gas resources in Nigeria and facilitate timely and effective data sharing," he stressed The director said with the implementation of the plans, it would ensure greater access to timely and transparent data which is necessary for a competitive market. He added that the DPR would work closely with industry stakeholders to deliver all the strategies through collaborations, communication, cooperation and coordination.

Policy is currently in operation in most European countries as well as some African countries while some are at the verge of introducing the policy. "Let us all recall that it has been deployed in the US, in the UK, in Switzerland, in Germany, and in so many European countries. It has also been developed in the Republic of Korea and China. And it has also been deployed in Africa, especially South Africa and Lesotho. “And there are other countries that are also working in the same pace we have been, like Kenya, Uganda, Morocco and Egypt. All of them are just at the last stage of the deployment of 5G and I congratulate Nigerians for getting the memo approved by the Federal Executive Council. And I do hope that we will soon benefit from 5G to get high quality broadband,” he added. Telcos Back FG Meanwhile, ALTON has said Nigeria is ready in terms of infrastructure for 5G rollout across the country. Chairman of ALTON, Gbenga Adebayo who spoke yesterday on ARISE NEWS Night Channel, the broadcast arm of THISDAY Newspapers, said telecoms operators have built their networks to synchronise with 5G technology and that they are currently upgrading their networks to work seamlessly with 5G technology. According to Adebayo, “The approval of 5G technology for Nigeria is a welcome development that will enhance Nigeria’s drive towards digital economy. The best we can have at this time as a country, is the approval for 5G technology, reason being that every successful generation of mobile technology services has brought improvement both in user experience and the quality of the service. “Studies have shown that 5G is the next generation technology that will bring about high quality of user experience, and faster speed in data transmission. The approval is a good development and we thank all the stakeholders that worked towards the approval.” Asked if Nigeria is ready for 5G rollout, Adebayo said the national networks of telecoms operators were built to accept 5G technology and that telcos were upgrading their facilities to support 5G technology. “What we have deployed on our national network is of international standard that can be compared to networks of developed countries. In terms of readiness for 5G rollout, telecoms operators are ready, even though the telecoms operators still have work to do on their networks,” Adebayo said. He further said when 3G technology was introduced in Nigeria years back, there was some forms of resistance from the public and that telecoms operators would not see the current agitations against 5G rollout as something new. Speaking about the advantages of 5G network, Adebayo said “5G comes with high speed data transmission, low latency and high quality of user experience in the area of big data.” Adebayo further said 5G remained the best technology to be adopted now, and warned that if Nigeria did not adopt 5G technology now, the country would be playing catch-up game later, which he said would be more expensive for Nigeria to bear.

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Global Financial Crisis Looms as US Risks Defaulting on National Debt Peter Uzoho with agency report The global financial market may be heading towards an imminent crisis, as the United States is currently facing the risk of defaulting on its national debt in October. The US Secretary of the Treasury, Janet Yellen, gave the hint yesterday while warning congressional leaders that the country was on track to default on the national debt in October if the White House and Congress were unable to raise the debt limit. In a letter to the congressional leaders, Yellen said the Treasury Department would likely run out of cash and exhaust "extraordinary" measures to keep the federal government within its legal borrowing limit at some point next month. She stated, "Once all available measures and cash on hand are fully exhausted, the United States of America would be unable to meet its obligations for the first time in our history. "Given this uncertainty, the Treasury Department is not able to provide a specific estimate of how long the extraordinary measures will last. However, based on our best and most recent information, the most likely outcome is that cash and extraordinary measures will be

exhausted during the month of October." Yellen addressed the letter to Speaker Nancy Pelosi, House Minority Leader Kevin McCarthy, Senate Majority Leader Charles Schumer, and Senate Minority Leader Mitch McConnell. The Treasury Department has, reportedly, taken so-called extraordinary measures to prevent the US from defaulting on the national debt since the federal debt limit was re-imposed on August 1. If the Treasury Department runs out of ways to stave off a default without borrowing more money, the inability of the US to pay its debts could send debilitating shockwaves through the financial system. Yellen had urged lawmakers for months to raise the debt limit before it was re-imposed in August, warning that a delay could "cause irreparable damage to the US economy and global financial markets." She has since pleaded with Congress to give Treasury the ability to pay debts already approved by previous presidents and congressional majorities. According to her, "Waiting until the last minute to suspend or increase the debt limit can cause serious harm to business

and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States. "At a time when American families, communities, and businesses are still suffering from the effects of the on-going global pandemic, it would be particularly irresponsible to put the full faith and credit of the United States at risk." However, Democrats and Republicans are locked in

a stalemate over who bears responsibility for protecting the full faith and credit of the US. The White House and Democratic leaders are planning to tie a debt limit increase to another must-pass government funding bill, daring Republicans to trigger both a government shutdown and a default by opposing the measure. "We fully expect Congress to act promptly to suspend the debt limit and protect the full faith and credit of the United

States and we expect them to do that in a bipartisan way just as they did three times during the prior administration," a White House official was quoted to have said on Tuesday. But Republicans have refused to raise the debt ceiling unless spending cuts and debt reduction programmes are attached. Democrats could also try to jam a debt ceiling increase into the pending $3.5 trillion infrastructure, climate and

Judges Can’t Feign Ignorance of Orders from Coordinate Jurisdictions, Says Azinge Maintains practice capable of grinding nation to a halt Emmanuel Addeh in Abuja A former Director General of the Nigerian Institute of Advanced Legal Studies (NIALS), Prof. Epiphany Azinge (SAN), has argued that given the horde of information in the public space, no judge can claim not to be aware of orders given by courts of coordinate jurisdictions in the country. Speaking against the backdrop of the incessant use of exparte motions by the country’s judiciary,

Azinge explained that although the phenomenon was not against the law, its abuse remains a major challenge for the country. The senior lawyer who appeared on Arise News Channel, THISDAY’s broadcast arm, called on the National Judicial Institute (NJI) to initiate programmes to educate judges, especially junior ones, on the deployment of exparte motions to avoid embarrassing the judiciary. He stressed that with the availability of social media, it is

almost impossible not to be aware of what is happening across the country, especially on very critical national issues. “What obviously is the issue is when there is, so to speak, an abuse of that process, either for political reasons or otherwise. And that's where we feel that we have a problem. “And obviously, we are aware of the developments up and down the country bordering on forum shopping. And to that extent, if we allow things to linger, certainly,

VIRTUAL OSINBAJO… Vice President Yemi Osinbajo, SAN, virtually attends the Federal Executive Council (FEC) meeting from Arusha, Tanzania, presided over by President Muhammadu Buhari...yesterday

AIG Announces 2021/2022 Scholarship Recipients Peter Uzoho The Africa Initiative for Governance (AIG), a subsidiary of the Aig-Imoukhuede Foundation yesterday announced the recipients of its fully-funded annual scholarships to the University of Oxford. They are are Wuraola Babalola (Nigeria), Buari Abiodun (Nigeria), Salifu Abdul-Razaq (Ghana), Ojemani Ujunwa (Nigeria) and Godwin Mark (Nigeria). A statement explained that the 2021 scholars represented the fifth cohort of AIG Scholars, adding that recipients would benefit from world-class training on public policy at the prestigious Blavatnik School of Government, University of Oxford. Since 2017, 27 scholarships worth over £50,000 each had been awarded to future public sector

leaders who have demonstrated a passion for the public sector. AIG Scholars spend the year at one of the world’s top universities, gaining knowledge and skills from the outstanding academic faculty and expert practitioners and interacting with other future public sector leaders from around the world. After completing their degrees, scholars return to their countries and use their learnings to bolster policymaking, support reforms and contribute to their nation’s development. While addressing the awardees, the Founder and Chairman of the AIG, Mr. Aigboje AigImoukhuede said: “It is our fifth year of awarding at least five scholarships annually to high-calibre individuals who can influence best practice standards of governance in Africa, ensuring

social services bill they are attempting to pass through budget reconciliation. Passing the bill would only require simple majorities in each party, but the package may not be ready for a vote before the US breaches the debt limit. Yellen had warned for months that the US could default as soon as October, explaining that the economic impact and fiscal response to the coronavirus pandemic makes it hard to determine exactly when.

sustainable economic growth and social justice. “We believe that the right leadership is a key driver of change and at the Africa Initiative for Governance, we are focused on building a critical mass of public sector leaders who are passionate about transforming the public sector for the benefit of the nation’s citizens. “We are intentional in awarding our scholarships to those we believe have the capacity and the grit to be game-changers.” Reaffirming AIG’s mission for inspiring public sector transformation, Director of the AIG, Mrs. Ofovwe Aig-Imoukhuede, explained: “Through our AIG Scholarships, we are providing the next generation of public service leaders with a world-class public policy education that will equip them with the skills and

knowledge they need to make positive change in their countries and across the continent.” She said, “The University of Oxford is one of the world’s top universities and the faculty of the Blavatnik School of Government consists of public policy academics and experts who advise governments all over the world. “Our AIG Scholars learn from these teachers and bring their learnings to bear in the execution of their duties in the public sector. We believe that these scholars are future leaders who will contribute immensely to nation-building and transformation.” Commenting on the award, Ojemeni, a Nigerian recipient of the 2021/22 AIG Scholarships and a first-class Banking and Finance graduate, expressed her gratitude to the AIG, saying, “I

am appreciative of the confidence placed in me to embark on the journey to build Africa through policy and public sector support. I enjoin AIG to continue the support for the next generation of African leaders.” Also, Abdul-Razaq, a Ghanaian recipient of the AIG award, also a first-class degree holder in Computer Engineering stated, “I feel a weight of responsibility and sense of duty to transform Ghana’s public sector into one capable of accelerating the socio-economic development of the country. I am glad and exceedingly humbled by the AIG Scholarship. Not very often in this part of the world can one find such an opportunity. The AIG Scholarship will enable me not just study at Oxford but build a critical skillset to lead change in my country, Ghana, just as my forebearers.”

we'll come to the stage where obviously the country can grind to a halt. “So, we applaud the fact that the Chief Justice of Nigeria (CJN) at this point in time is taking this proactive measure, firstly, to send a clear signal, to the chief judges, that it should not be business as usual,” he noted. He recalled that historically, exparte motions were partly responsible for the demise of the Ernest Shonekan-led interim government, warning that Nigeria must not allow the practice to destroy the foundation of the judiciary. But he cautioned that the CJN must draw a line and create a delicate balance, so that it doesn't appear that he is superintending or supervising other courts, for the sake of the independence of the judiciary. “It is far-reaching it to the extent that the chief judge of the state is autonomous to a very large extent in as much as we concede that the chairman of the NJC, the Chief Justice of Nigeria, acting in that capacity, can wield the big stick, not in his capacity of the Chief Justice of Nigeria, but in his capacity as the chairman of the NJC. “I believe that by now, the National judicial Institute (NJI) should be putting out a programme for retraining of some of the judges, as far as this issue is concerned,” he advised. He advised that next time, there might be the need to appoint much more experienced judges as vacation judges, so that Nigeria would not be confronted by this abnormally, especially on political matters. “And you ask yourself, what could be the allocutus. Some of them may argue, with a lot of benefits that they never heard of the order from Port Harcourt or Kebbi as the case may be. “They may argue, but not in present times, not with the social media, not with the internet, not with the avalanche of information on parade all over the country. “But even at that, the benefit of the doubt should be given to them to an extent, in the sense that the judiciary should now be thinking of how to harmonise information flow and communication flow amongst the judicial arms. “This is so that whatever is happening in one part of the country automatically will filter through to the other parts of the country. This way, no judge can claim that he or she did not know what happened in Port Harcourt or what happened in Kebbi,” he argued. He urged the judiciary not to allow itself to be used and make a decision to stop the abuse of ex parte orders, adding that it might be important to warn erring judges rather than make scapegoats of them. “The disciplinary measures are there, but I wouldn't think that it will be something as drastic, as anybody will think. A warning will suffice at this point in time,” he suggested.

THURSDAY SEPTEMBER 9, 2021 • T H I S D AY

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

A WAKE FOR PA ABIODUN... L-R: Ogun State Governor, Prince Dapo Abiodun; his wife, Mrs. Bamidele; Lagos State Governor, Mr. Babajide Sanwo-Olu and his wife, Dr. Ibijoke, during Dr. Emmanuel Abiodun's wake, father of the governor, at the Christ Apostolic Grammar School, Iperu-Remo, Ogun State ...yesterday

CBN Gov Calls for Urgent Action to Address Food Crisis Worries over security challenges, COVID-19 pandemic

Okon Bassey in Uyo

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, yesterday, warned that the food crisis being experienced in the country could worsen if urgent and resilient steps were not taken to address the situation. Emefiele made the assertion while presenting a keynote address at the 2021 CBN Executive Seminar in Uyo. The CBN governor expressed worry over severe disruptions to the agricultural value chain due to security challenges in the country and the COVID-19 health crisis. Emefiele, who was represented by CBN’s Deputy Governor, Economic Policy, Dr Kingsley Obiora, recalled that the United Nations’ Food and Agriculture Organisation (FAO) had reported that at least 9.2 million people in Nigeria faced food crisis between March and May 2021. The CBN governor said the fact that the United Nations projected Nigeria’s population to be 398 million by 2050 challenged Nigeria’s common will to implement strategies targeted at achieving food security. He said the theme of the seminar, “Food Security in Nigeria: Options for Policy,” was apt now that security issues, climate

change, and COVID-19 related disruptions were challenging food production and supply, not only in Nigeria but also in the global economy. Emefiele stated, "I note with concern the severe disruptions to the agricultural value chain caused by the security challenges in the country and the COVID-19 health crisis, as households continue to grapple with the production, processing, and distribution of food with undesirable effects on livelihoods. "To amplify this concern, the United Nations’ Food and Agriculture Organisation has reported that at least 9.2 million people in Nigeria faced a food crisis between March and May 2021. "Due to insecurity and the effects of COVID-19 health crisis, as well as climate change, the figure could increase further if no urgent and resilient actions

were implemented. “Ladies and gentlemen, a glimpse into the future would reveal an imminent food crisis. "The United Nations has projected Nigeria’s population to be around 398 million people by 2050, far exceeding that of the United States of America. This number challenges our common will to implement strategies targeted at achieving food security and safety, as failure to do so could subject the population to the risks of hunger and diseases." He tasked the participants to painstakingly discuss the issues around the theme of the seminar with a view to articulating innovative and workable solutions that would lead to improved productivity and increased food supply for the nation. Emefiele said the CBN on his watch had engaged in several development initiatives aimed

at increasing food production, creating job opportunities, and diversifying the economy, including the release of N987.825 billion under its N 1 trillion Real Sector Facility to 262 real sector projects on agriculture, manufacturing, mining and services sectors. He said, "The CBN has disbursed over N802.920 billion to 3,038,899 (three million, thirty-eight thousand, eight hundred and ninety-nine) farmers cultivating more than 4.7 million hectares of land across the 36 states and FCT under the Anchors Borrowers Programme (ABP). "The programme has helped the participating farmers to improve their yields, especially maize, from initial 1.5-2.0 metric tons per hectare, to an average of 5.0 metric tons per hectare, while that of rice improved to 4.0 metric tons per hectare, from 1.5-2.0 metric tons. "Under the scheme the Bank

Udora Orizu in Abuja The House of Representatives Committee on Public Accounts yesterday accused the office of the Auditor General of the Federation

(OAuGF) of reckless spending of the approved budgetary allocation for 2019 to 2021. The lawmakers made the accusation during an oversight visit to the OAuGF headquarters

in Abuja, led by its Chairman, Hon. Wole Oke. The Committee picked holes in financial reports which were without vouchers and other supporting documents.

Osinbajo felicitates with Wale Oke at 65

President Muhammadu Buhari has felicitated with globally recognised essayist, academic and author, Professor Adebayo Williams, as he marks his 70th birthday anniversary on September 9, 2021. In the same vein, Vice President Yemi Osinbajo has rejoiced with the President of Pentecostal Fellowship of Nigeria, Bishop Francis Wale Oke, as he turns 65 on Wednesday. The duo congratulated the celebrants as they added another year to their age on the surface of the earth. The President in a statement by his Media Adviser, Femi Adesina, yesterday, saluted the almost 50 years of scholarship, university teaching, and contribution to public discourse that Prof Williams had

physical security and shelter, is food security. "In the past six years, a recurring decimal of most of my speeches has been the need for responsible governments not to shirk or negate this all-important social responsibility." The Commissioner for Agriculture and Natural Resources, Dr Glory Edet, urged the apex bank to liaise with the agriculture ministries in the states on its loan schemes to farmers so that the real farmers could access such facilities. Edet said, "I wish to appreciate the developmental initiatives of the CBN, particularly, the interventions in the agricultural sector. "However, I wish to suggest that CBN, in giving loans to farmers’ groups, associations and cooperatives, should always inform ministry in charge of agriculture in every state on information about the real farmers."

Lawmakers Accuse AuGF of Reckless Spending of Budgetary Allocation

Buhari Rejoices With Global Essayist, Prof. Williams, At 70 Deji Elumoye in Abuja

has disbursed N134.568 billion to about 38,140 beneficiaries. Under the Commercial Agricultural Credit Scheme, the Bank has disbursed more than N708.388 billion to finance about 652 projects since inception. "Under the Targeted Credit Facility (TCF), more than N343.206 billion has been disbursed to 726,198 beneficiaries. The scheme was established in 2020, as a stimulus package to support households and businesses affected by the COVID-19 pandemic across the country." The Akwa Ibom State governor, Mr. Udom Emmanuel, while declaring the seminar open, praised the CBN administration for selecting the state to host the forum. Represented by his deputy, Mr Moses Ekpo, Emmanuel stated, "I love the theme of this seminar. One of the defining elements of the social contract, apart from

tucked under his belt, extolling him for being a source of inspiration to the younger generation, and a pride to the country. Noting that the multiple award-winning writer, after years of teaching at the then University of Ife (now Obafemi Awolowo University, Ile-Ife) took his intellectual prowess to Europe and America for many decades, President Buhari said Prof Williams has used his Godgiven endowments for the good of humanity round the globe. Rejoicing with the Williams family, the academia, friends and acquaintances of the celebrated writer and teacher, the President wished Prof Williams longer life, good health and greater contribution to scholarship and sharing of knowledge. He encouraged the newspaper

columnist not to relent in addressing issues of governance very crucial to Nigeria and Africa. On his part, Vice President Yemi Osinbajo described the President of the Pentecostal Fellowship of Nigeria, Bishop Francis Wale Oke as, “a bridge builder, an exemplary leader, a man of refreshing honesty, openness and genuine spirituality”. In a letter to the Bishop who turned 65 Wednesday, Osinbajo and his wife, Mrs. Dolapo Osinbajo joined in celebrating the revered man of God. According to the Vice President: “Dolapo and I rejoice with you, your dear wife, Rev. (Mrs.) Tokunbo Wale Oke, the family, the entire membership of Sword of the Spirit Ministries worldwide and the Pentecostal Fellowship of Nigeria on your 65th birthday anniversary. We thank God for

the profoundly remarkable life that yours has been.” He said, “your exceptional life of service is a divine script that has continued to inspire both those of us who are close to you and millions globally. Through the years we have been especially blessed by your godly counsel, love and constant encouragement.” Making reference to his ministry, including the Sword of the Spirit Ministries where Bishop Oke is President, the Vice President said “your profound love for and devotion to God and the gospel of Jesus Christ are evidenced by the exceptional grace you have been given to intercede and evangelize. These explain the great impact your calling continues to make in the Kingdom while pursuing your set goal of bringing 100 million souls to Christ."

Some of the sub-heads queried by the lawmakers included: N1.9 million allegedly spent on new clinic; an additional sum of N3.967 million spent on drugs and medical supplies as well as N7.721 million spent on medical consulting, despite payment of N55.933 million as NHIS contribution as contained in the 2020 financial statement, as against N87.870 million NHIS contribution paid in 2019. The lawmakers also demanded for the staff nominal roll of the office of the Auditor General for the Federation over increase in the N1.977 billion personnel cost for 2019 to N1.991 billion was appropriated in 2020, despite the depleting workforce and the request for 500 new staff. According to the documents presented to the Committee, out of total sum of N984.231 million budget appropriated in 2019, the sum of N969.487 million was released for which training got a large chunk of the released fund. The lawmakers further queried the sums of N120,304,830 spent on international travels & transport (audit of foreign mission, consular offices & 20 defence attaches); N40,710,380 spent on local travels & Transport (training), additional N286,881,055.18 on local travels

& transport, others (hqtrs/State branch office and additional N100,093,600 spent on local travels as well as N35,710,812 spent on Auditors-General annual conference without specifying the location and vouchers. In the same vein, the OAuGF spent N28, 850,080 on purchase of unspecified number of desktops and laptops computers as well as the sum of N49, 999,616.88 without any vouchers. Worried by the development, a member of the Committee, Hon. Omowumi Ogunlola said: “We have a document prepared for us which is pre-emptive. We don't have any evidence or proof of how the money here is being expended. “We at the Public Account Committee have always insisted that MDAs call me with their evidence of their spending and expenditure. Is it because this is Auditor General's office that they will just give to us these documents for us to see without any evidence of how the budget given to them is being expended?" On his part, Oke gave the oAuGF a 7-day ultimatum to submit documentary evidence of all expenditures for the three years under review.

THURSDAY SEPTEMBER 9, 2021 • T H I S D AY

T H I S D AY • THURSDAY, SEPTEMBER 9, 2021

COMMENT

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

TALIBAN FARING BETTER THAN VENEZUELA What is evil in Afghanistan is also evil in Venezuela, writes Okello Oculi

he return of the TALIBAN to power in Afghanistan has aroused a din of demands for the protection of human rights of girls to attend school and women’s rights to work. Forced marriage of infant girls, and women giving their intellectual and artistic talents to the development of their country, people, and the global culture is getting intensive diplomatic support. The Taliban are being pushed back from brutal religious, military and political practices shown in their first regime in the 1990s. The governments and “human rights NGOs” harassing the Taliban include those of NATO. President Biden has bluntly focused on rebuilding the economy, social and cultural condition of his country. There is a historic lesson backing Biden. In the 1960s President Lyndon Johnson announced a vision for modernising his underdeveloped and politically repressive Southern states. The “brightest and the best’’ staff around the assassinated John F. Kennedy diverted his budgets into funding bombs dropped into swamps and forests of Vietnam, Laos and Cambodia. The poverty, racism and inequality that Johnson wished to end continued to fester. President Biden has remained silent on Venezuela terrorised by past American administrations. America’s campaigners for human rights in Afghanistan have been loudly silent about their government’s violations of human right to health, education, food and political life by peoples of Venezuela. Biden is following a long tradition. While the United States supported Cuba’s dictator, Fulgencio Batista against Fidel Castro’s guerrilla army, the ruler of Venezuela sent weapons into Cuba’s mountains, the Sieara Maestra, where the guerrillas were based. In 1958 when Richard Nixon’s motorcade rolled on streets of Havana, crowds aroused by radio broadcasts from Castro’s fighters, pelted the visitor with tomatoes and eggs. Rich Cuban families who fled to the State of Florida, have waited for the fall of Cuba’s communism to regain their lost paradise. They continue to sell their votes to politicians who stoke their dreams. Following close relations between Hugo Chavez (Venezuela’s military paratrooper elected to presidency in 1998), this voting capital has also become invested in hostility to Venezuela. Hugo Chavez made this voter hostility justifiable. During the Cold War, he aroused wrath in Washington by challenging their strategic doctrine that their Caribbean and South American backyard is forbidden ground to Communist Soviet Union. As Che Guevara, a freshly graduated medical doctor, found out when he travelled by motorcycle from Argentina to Mexico, the “Ugly

AMERICA’S CAMPAIGNERS FOR HUMAN RIGHTS IN AFGHANISTAN HAVE BEEN LOUDLY SILENT ABOUT THEIR GOVERNMENT’S VIOLATIONS OF HUMAN RIGHT TO HEALTH, EDUCATION, FOOD AND POLITICAL LIFE BY PEOPLES OF VENEZUELA

American’’ was a giant crushing the region’s development and dignity. American companies, like United Fruit, used slavelabour to grow bananas, pineapples, wheat on vast fertile land and exported the products to benefit America consumers. Politicians who were fired by angry patriotism were being assassinated or overthrown from power. In Brazil thousands of supporters of the country’s Communist Party were massacred by local military officers trained by American military academies. Che Guevara’s shock prepared him for joining Castro’s adventure when they met in Mexico. Hugo Chavez became the voice of opposition to this historical record. He preached a linkage between ordinary peoples of South America over heads of leaders put in power by American intelligence operatives; corrupt and oppressive land owners, etc. He advocated grand projects which linked all the South American countries, including a common bank which funded development projects in all the countries. With Venezuela earning vast income from its oil sales, Chavez started giving out funds to support budget expenditures on education, health clinics, roads, electricity plants in nine countries which joined his association for reviving Bolivar’s vision of a union of South Americans. Accordingly they imported oil from Venezuela on a credit payable after 25 years at the very low interest rate of one percent. Chavez added the novel scheme of flying patients from these countries to be given free high quality medical treatment by Cuba’s best doctors. Cuba was paid for this service in cash and oil. The contrast between this model of conducting a ‘revolution by providing “stomach infrastructure’’, as well as political education, was stark. It is a theme which currently flows with pronouncements by China as her diplomacy competes with that of the United States of America. While President Biden may be constrained by Cuban exiles in Florida, it is not clear why Civil Society activists in North America and Europe are covering the stain in their conscience by American terrorism against the people of Venezuela. Al Jazeera has highlighted health hazards facing Taliban rule, including salaries of staff in the largest hospital not paid since May 2021; 86 female staff locked out; lack of medicines, broken equipment and over $9 billion of the country’s money frozen in American banks, etc. It is very important to bring out this truth. What is evil against Afghanistan must also be regarded as evil against Venezuela.

THE $418 MILLION QUESTION Olusegun Adeniyi canvasses the need to investigate the allegations by the NGF and ALGON before payments are made Continued from backpage

t was that initial breakthrough by Nwoko that opened the floodgates of court cases, claims and counter claims by sundry cartels of lawyers, contractors and the usual Abuja middlemen who are adept at forging documents whenever they see what they consider a slush fund. I do not want to go into all the legal and extra-legal cases that have arisen since, but it is important to situate how President Buhari was dragged into the mess. In July 2016, Abdulaziz Yari, then governor of Zamfara State, wrote Mrs Adeosun, reminding her that the NGF (which he then chaired) had at its May 2016 meeting appointed a consortium of financial consultants to reconcile and recover over-deductions from the Paris and London Club loans due to states and local governments. Yari stated further that the president had, in a meeting with governors, “graciously agreed to pay 50% of the monies due and the balance of 50% paid after due and diligent reconciliation of the accounts.” He added, “At the last meeting of the NGF held in July 2016, the Forum unanimously resolved to pay a fee of 2% to the consultants as their professional fees for the services rendered.” Based on this decision, Yari requested that “the payment of the consultant fees should be deducted at source from each state’s entitlement and paid directly to the account details of the

consultants as attached with.” These consultants, by the way, were engaged directly by the NGF and quite different from the ones (genuine or fake) appointed by many of the states. But the moment they were paid, several other people with claims of having worked for some states or the Jang faction of the NGF moved in. They also filed a multiplicity of cases in various courts that have resulted in several judgements. It was in a bid to discharge the federal government of all obligations in the claims made by these consultants and contractors that the out-of-court settlement of $418 million was arrived at by the office of the AGF and Justice Minister, Abubakar Malami, SAN. However, whatever may be the justification, there are serious issues here. The idea that huge chunks of public resources can be cynically signed off to some people in doubtful circumstances calls to question the basis of government. This is more so when ALGON has sent letters to the AGF that the borehole contracts (for which one of the claimants would earn $159 million in the $418 deal) were not executed. That requires a thorough investigation. To escape from the claws of the Paris and London Clubs of creditors only to land in the hands of some domestic racketeers reads like a script from any gangster chronicle. It speaks of the existence of a virtual industry of shadow commission agents that target government agencies for easy money. Unfortunately,

there is nothing new in this deal and it is not peculiar to this administration. That is what government has been reduced to in Nigeria today. Which then explains why the Federal Executive Council (FEC) is no more than a contract awarding body where policies are hardly discussed. To wean government, at all levels, of this transactional ethos, we need to have a genuine conversation about the minimal expectation of governance, and the values that should drive public office in Nigeria. But I must also point out that I believe in the sanctity of contracts. So, if the consultants were able to hoodwink governors to agree to sign off such scandalous amounts of public funds in their states, I do not begrudge them their luck. But I find it rather disturbing that the federal government will be defending the interest of private citizens against that of the 36 states. While both the AGF and the Finance Minister see the issue as upholding the law and meeting obligations, there is a problem with shutting out the NGF and ALGON in the manner they are doing. Last Friday, (3rd September), through another SAN, P.H. Ogbole, the NGF wrote to the Central Bank of Nigeria (CBN) governor, AGF, the finance minister, DG of DMO and MD/CEOS/compliance officers of all commercial banks in Nigeria. The letter particularly noted that “custodians and managers of public funds are public trustees and must at all times act in the public interest. In this case, the interest

of all the states and local governments of the federation are involved and ought to be protected by the hon. minister of finance.” It continued: “The issuance of promissory notes of a humongous sum of over $418million to private persons for alleged consultancy work demands not only caution but strict due diligence; particularly when the judgements which gave rise to the payments sought to be enforced are the subject of pending litigation.” At the end, there are several lessons we must learn about the use of consultancy in the conduct of government business, including the need to put a cap on how much they can be paid for helping to collect either judgement debts or taxes. This is a problem that you find in many of the states and even in the federal government. But there is also something peculiar to the current administration. In the past few years, people and institutions that should ordinarily work together not only squabble openly, they call to question the transparency of those at the apex of power in our country and the integrity of the Nigerian system. That should worry President Buhari. On the immediate issue of the contentious $418 million payment, the minimal expectation is for the president to direct the Economic and Financial Crimes Commission (EFCC) to investigate the allegations by both the NGF and ALGON before any payment can be made. I hope that is not already too late!

T H I S D AY • THURSDAY, SEPTEMBER 9, 2021

EDITORIAL

TARIFF AND THE POWER SECTOR Tariﬀs should be dictated by eﬃciency of services

he Nigeria Labour Congress (NLC) last week expressed outrage at the hint of a hike in electricity tariffs with effect from this month. The NLC President, Ayuba Wabba vowed to call out workers on industrial action. “We ﬁnd it prudent to put you on notice that should government make true the swirling speculation by approving an increase in electricity tariff organised labour would be left with no option than to deploy the industrial mechanisms granted in our laws for the defence of workers’ rights.” The frustrations of the labour union are understandable. When in November 2013 the electricity distribution and power generation companies were handed over to some private operators at an elaborate ceremony, the hope was that daily blackouts and power outages would be reduced to the barest minimum, until they were gradually eased out. But it is now apparent that those hopes were largely misplaced. Today, consumers are paying more and getting less electricity supply. Energy costs perhaps account for the highest PRICE HIKE ALONE WILL spending in many NOT REFORM THE SECTOR. homes and businesses WE NEED A ROBUST AND as Nigerians are largely dependent on genEFFICIENTLY MANAGED erators as alternative GRID, APPROPRIATE INCENTIVES TO ATTRACT source of energy. That perhaps NECESSARY INVESTMENT, explains why the AND SMART REGULATION clamour by the electricity distribution companies (Discos) for a raise in tariff is being met with resistance. Last week, for instance, residents of Graceland Estate, Oba Ile, Akure North local council area of Ondo State trooped out to protest poor power supply and “crazy estimated billing” by the Benin Electricity Distribution Company. “We are here to tell BEDC that their illegality must stop,” said the chairman of the Estate landlord’s association, Popoola Martins. “We are responsible for buying poles, cables, conductors and even transformers.

Their only input is to collect money.” But the Discos have also insisted that the tariffs paid by customers are not cost-reﬂective. Indeed, the power sector has reportedly failed to attract the necessary investments due to the uncertainty in cost recovery of electricity prices in addition to poor guarantee in payment across the value chain of generation, transmission, and distribution. Many government departments are also owing the Discos to the tune of billions of naira.

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

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

t is not clear if the provisions of the law are taken into consideration in the current contemplation to review the prices. But given the worsening services being provided by the Gencos and the Discos, raising the tariff will be an uphill task after the last raise in January. One of the major grouses of those opposed to the tariff structure is that Nigerians are being billed for what they do not consume. According to reports, about six million power users are still paying for electricity through estimated bills. While about 50 per cent of electricity consumers are billed exorbitantly and arbitrarily since they are not metered, there is no assurance that a new hike in tariff will translate to improved services. Even though the country has the power to generate about about 8,000 megawatts of electricity, much of it cannot be evacuated because of decayed infrastructure. This year alone, the electricity grid has collapsed four times, sending the nation into darkness. That perhaps explains why Nigeria has one of the harshest environments for doing business. China, for instance, spends less than 10 per cent of its production cost on electricity. In Nigeria, it is more than 40 per cent, as individuals and businesses have had to resort to self-help through an assortment of generators. Yet, as we have noted on this page, we must reiterate that price hike alone will not reform the sector. We need a robust and efﬁciently managed grid, appropriate incentives to attract necessary investment, and smart regulation. Above all, the very source of the huge distortion in the sector must be attacked by metering all consumers.

TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

Letters to the Editor

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

AWAITING THE POWERS OF SUPER TUCANO JETS

gratifying renaissance seems to have visited the Nigerian security architecture. The wave of kidnappings, killings, rape and other crimes that dominate the tabloid have cast a gloomy shadow on the landscape. Citizens are flummoxed on how territories especially in the northern parts of the country have been reduced to killing fields where bandits and insurgents have assumed the statuses of Lord of the Manor having to be appeased with insensate ransoms added with motorcycles to ease their criminal enterprise against innocent citizens, mostly women, school children and security agents. However in the midst of this narrative, the recent heavy clampdown on bandits in Zamfara where 40 bandits were killed in one fell swoop and dozens of abducted men and women were released elicited a signal of hope in an otherwise despondent atmosphere. All these were achieved without the use of the newly acquired Super Tucano military hardware. The Embraer EMB 314 Super Tucano, also named ALX or A-29, is a Brazilian turboprop light attack aircraft designed and built by Embraer with top speed of 593 km/h. The Super Tucano is built as a workhorse combat air platform, equipped for intelligence, surveillance, and reconnaissance (ISR) and for precision air-to-ground strike missions. The chief of army staff exhilarating right from the theatre of the Zamfara clearance operation enthused a sustained platform position against the criminal denizens and promised that the aggressive military operation would dismantle all the camps and criminal hideouts in due course. Complimentary to the ascendancy of the Nigerian army, the

blockage of communication and restriction of movement in Zamfara was punctilious and right on the button. The novel strategy which set the insurgents into disarray disrupted the value chain of informants and the supply chain of food and other harbingers of criminal shuttle. Kudos to both the military and the state governor for this ingenious blueprint which when adopted in Kaduna and other troubled spots would put paid to the deranged activities of the insurgents. A food for thought driven home by this piquant renaissance is the fact that solution to the myriads of challenges bedeviling Nigeria cannot be driven by hackneyed strategies that have become antediluvian and are prone to failure. Asymmetric challenges in the cauldron of insurgency and allied criminality would always require lateral thinking to solve and a paradigm shift in policy envisioning and delivery. If painstaking thought process is applied to most of our teething problems, incredible results are achievable in much more abridged timelines. One area that requires urgent and timeout paradigm shift is our crepuscular public finance that is hemorrhaging on account of depleting revenue in the face of ballooning expenditure profile across national spectrum. To continue to use 90% of revenue to service foreign and domestic loans and calibrate perennial budgetary estimates on acquisition of more debts is to insulate lateral thinking from public administration and policy formulation. The same thinking process that provides silver lining on security can change the narrative on the economy. A good example of the low hanging fruit staring the federal government in the face is the political will to demand an audit of all federal parastatals in line with the

Nigerian constitution. Credible authorities puts leakages pursuant to lack of audit of MDAs at a staggering proportion. Recent reports about federal ministries, departments and agencies explain how fiscal malfeasance and poor oversight have combined to deprive the Nigerian government of its legitimate revenues and impoverish the country. The revelation by the Auditor-General for the Federation that MDAs failed to account for N4.97 trillion in 2019 and the disclosure by the House of Representatives Committee on Public Accounts that 65 public agencies had never been audited since they were established is really befuddling and validates the question as to whether ministers under whose watch this larceny is given fillip are fit to remain in office. If Joint Admissions And Matriculation Board, NNPC and other amorphous government outfits can suddenly be turning in profits, it shows that the construct to borrow rather than blocking revenue leakage through global best practices is a misguided and a misanthropic policy choice. The debt pandemic hanging on Nigeria as it were and impoverishing greater majority of the populace could be one singular deciding metric for extrapolating the legacy of President Muhammadu Buhari and his government. It is no brainer that the basis for the bourgeoning foreign and domestic loans would become unjustifiable when the infrastructure at which the loans are targeted are being foreclosed by China and other creditors due to the insouciant disposition of supervisory authorities to keeping tab on revenue receipts. Bukola Ajisola, bukymany@yahoo.com

THURSDAY SEPTEMBER 9, 2021 • T H I S D AY

T H I S D AY ˾THURSDAY SEPTEMBER 9, 2021

POLITICS

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

‘We Are Coping with Whatever Debts Osun Has Incurred’ Nseobong Okon-Ekong was part of a group of journalists who interviewed Governor Adegboyega Oyetola of Osun State on the 30th anniversary of the creation of the state

Oyetola

ongratulations on the 30th anniversary of the creation of Osun State. How do you feel to be at the helms of affairs of this state at a time like this? I must thank Almighty God for taking Osun to this level, after 30 years of its creation. I thank the founding fathers for the efforts they put into creation of the state. This 30th anniversary is worth celebrating, and we thank God for that. Well, I think the journey has been quite interesting, full of challenges though. I must thank every governor and administrator that had served this state since its creation 30 years ago. They’ve all done very well. What we’re doing now is to build on the existing structure that we have inherited from all of them. The journey has been quite challenging, I must say, because of the fact that as a state, we have a lot of challenges in specific areas of education, infrastructure, health, security and the economy. But I must commend all the governors that have served before me including the immediate past governor, for the efforts they put into developing the state. Within the last almost three years of our administration, we’ve actually done much to improve on what we inherited, in the areas of infrastructure,

health, education, security and economy. Like I said earlier, the journey has been very challenging. But in any case, that’s the essence of being in government. You face challenges and you provide solutions to whatever challenges that come your way. Let’s talk finances, analysis and figures from government institutions point to the fact that our state, Osun is neck deep in the ocean of debts. You hold the purse strings of the state, you were Chief of Staff for eight years and now the Executive Governor for almost three years. Tell us how deep

is Osun in this mess and how did we get here? Debt ordinarily is something that happens one way or the other because we don’t have all the resources to do what we want to do. So, debt is actually not a curse. What is important is to ensure that whatever debt incurred is actually channelled towards capital projects that will impact positively on the people. Osun has its own share of debts. I don’t want to go into so much of those details. What is important is to move forward. We are coping with whatever debts that have been incurred over time, and we are ensuring that, that does not

We are brothers. There’s no rift actually. You can say we have disagreement on some areas and it is not uncommon to have disagreement on certain areas, perhaps maybe policy, style and things like that. But that’s not to say that we have issues at all. By and large, I have no issue with Ogbeni, he is my brother. We have come a long way. We didn’t meet in politics. I think the whole thing is being unduly exaggerated

stop us from doing what we need to do as a government in the area of infrastructure, health, education and security. I think that’s the way to talk about it, even America owes a lot of debt. They live on debt, actually. But I think we’ve actually been able to manage the state’s debt portfolio. We’ve been paying back the inherited debt and we’re still doing a lot that we need to do as a government. I think it’s actually in the public domain. The Debt Management Office (DMO) has actually brought up, at one time or the other, the debt profile of most of the states, including Osun. So I will reckon that it’s in the region of about maybe N170 billion or so according to the last publication of the DMO, but since we’ve been in government, we’ve actually been able to reduce the portfolio reasonably, so it’s still at the level of something that could be managed. You’ve been in office for almost three years now, have you borrowed more? Have you taken any loan since that time? Have you added to the debt burden of the state? No. I’ve not borrowed. But that’s not to say that I might not borrow, given the fact that you must do some of the major projects that need time, particularly given the cost of infra-

T H I S D AY ˾ THURSDAY SEPTEMBER 9, 2021

POLITICS

‘We Are Coping with Whatever Debts Osun Has Incurred’ move by road, by air, even if we have all the tourist attractions in the world, you won’t be able to attract people. Again, we are not doing the airport on our own any longer. We are partnering with Federal Government. They’ve actually come to inspect, and I want to believe they are going to perhaps take it over in collaboration with us to complete the project. The idea of the airport was conceived by the Oyinlola administration and it was meant to be funded jointly by the Federal Government and state. I think that time it was N4 billion. Federal Government putting N2 billion down and the state putting N2 billion down. Unfortunately, the Federal Government didn’t come with their own N2 billion. I visited the Minister of Aviation and they’ve actually assured that they will take it over and complete it. So I want to believe that given the partnership we have with the Federal Government we will be able to complete the project. We’re not borrowing because I know you’re afraid that we might still want to borrow to complete that project.

structure that is going on now, you may have to really find a way of ensuring that you complete whatever you’re doing. But what is important to me is the fact that even if I must borrow, I must do it in such a way that will not affect meeting my obligations to the people including payment of salaries and pension. However, as of today, August, 27, 2021, we’ve not borrowed. The fact that you are paying salary as and when due, is a miracle. But some people are also quick to say, that what you are doing now is a political gimmick. They say you’re doing it to hoodwink the civil servants to get a second term On the average, we’re spending nothing less than N3billion every month on salaries and pensions. So, if we have even stored money somewhere by now, it would’ve been exhausted. There’s nothing like gimmicks. I’m here to serve. So the question of gimmicks does not even come in. It’s not a Greek gift, they deserve their pay. So I give priority to the payment of salaries and pension. I must look for money to pay salaries and pension, every other thing could come up but salary and pension must be paid. It’s not a gimmick. I’m committed to the welfare of workers. Even when I was the Chief of Staff, I was actually in charge of most of the things relating to issues of workers. I see it as an obligation that must be fulfilled. I’ve heard people talk about possibility of second term, that’s not the issue. The issue is that, the welfare of workers must be prioritized and that’s exactly what we’re doing. If I get a second term this policy of making workers priority number one, will not change because it is not the matter of looking at it from the angle of trying to satisfy them. It is their legitimate right. Before coming into politics, I’ve been a private sector person, I employed people. There was no time I did not pay my workers, so it is mandatory that you must pay your workers. It is part of what I need to do as a Chief Executive of the state, like I was a chief executive when I was running my company. It is normal, there’s nothing to it. If the state is neck deep in debt and you’ve not borrowed a dime since you’ve got to office and we’re all aware of the financial challenges of the state. Tell us how you hVe been paying those salaries as and when due and then, also doing other things? (Cuts in...) Creativity is the word. You need to look at where you’re and where you want to be and look at the gap and creatively plan things to take care of those gaps. I think, that’s the only way one can explain what we’re trying to do. For instance, if you talk of infrastructure, we don’t have resources to actually do infrastructure but I can’t be lamenting. When I went on ‘Thank You’ tour after our election, people were asking me to fix a lot of their roads and I can’t do roads without paying salaries. You have to be creative enough to conceive the idea of alternative fund project approach which gives me leverage of having my infrastructure fixed even without my resources. People who have money, contractor who can have the means to do these things, they do it and we have understanding as to how they will be paid over time. Perhaps that’s the magic, alternative fund project approach. Rather than borrow, I collaborate with people that have the means, ability, funds to partner with government to fix the roads. For instance, the ongoing construction of Olaiya Flyover is being financed through this approach. But what is important is, you must display a high level of integrity, you must not renege on the basis of whatever agreement

Oyetola

you have with these partners and so far, so good, we have been keeping to our agreements. The Olaiya project, the bridge that you talked about looks very much like your own legacy project or one of your legacy projects. There are arguments for and against its socio-economic relevance, depending on who you asked. Why Olaiya overhead bridge? Why not a full asphalting of the Ring Road, a project that your predecessor started? With the way the city is growing, you must be proactive enough to have a foresight of making some specific arrangements to avoid congestion, to avoid accidents, particularly on that axis. If you’ve ever used that road at the peak of the day, you will appreciate the need to have the flyover. There have been several accidents – I witnessed one or two myself. So, unless you have that and even thinking of a city that is growing, if we don’t think of that now, there’ll always be the need to have it. What about the road projects

inherited from your predecessor, have they been abandoned? We are still doing the Ring Road, we’ve not abandoned it. But what I’ve done differently is the fact that because I don’t have money for two, three, four lanes at a time, I felt what was important for me is to complete a lane or two lanes, so that people can make use of it. If I wait until I have money to complete it the way it’s been designed, it might take another four, five or seven years. So what I’ve done is to ensure that one side of it is taken up to Stadium, for instance. So people are plying, they’re using the road now as it is. When I have the resources, I will move to the other side, and complete the dual carriage way that it was designed to be. What about the airport project? Well, the airport is desirable because of the fact that we’re opening up our economy to private investment. Again, we have a lot of tourist attractions, we have tourist sites. If you don’t have things like that, there will be no opportunity for people to

Talking about issue of second term, my attitude is to deliver on what I am currently doing. I don’t want to be distracted. It is service to the people. If the people believe that they want me to continue, so be it. It is not a desperate situation. We have not gotten to that level (election). It is God that gives power. His appointment is not negotiable. It is God’s wish that I am the Governor today

You said you have no issues with your predecessor, Ogbeni Rauf Aregbesola. I mean, you have no problems that you are like brothers? We are brothers. There’s no rift actually. You can say we have disagreement on some areas and it is not uncommon to have disagreement on certain areas, perhaps maybe policy, style and things like that. But that’s not to say that we have issues at all. By and large, I have no issue with Ogbeni, he is my brother. We have come a long way. We didn’t meet in politics. I think the whole thing is being unduly exaggerated. There are different groups within the party. One of them is the Osun Progressives, TOP, there’s also Ilerioluwa and there are others. What’s your position as the leader of the party in the state on the Osun progressive, they seem not to be a big fan of yours. I don’t have issues, to be honest, I see everybody as part of the same political family. I don’t believe in groups or factions, If you want to put it that way, you can have caucus, one way or the other it’s natural. Even in normal club arrangement, you have people who align with one another on some things, so I don’t have issues with anybody. I don’t have issues with them. Talking about issue of second term, my attitude is to deliver on what I am currently doing. I don’t want to be distracted. It is service to the people. If the people believe that they want me to continue, so be it. It is not a desperate situation. However, we have not gotten to that level (election). It is God that gives power. His appointment is not negotiable. It is God’s wish that I am the Governor today. So, the issue of second term is left to God and the people of Osun to decide. You have series of endorsements of late, many groups coming out to say, we endorse you for second term. We want the governor to run for a second term. Do you know, I should say, are you sure that your predecessor, Ogbeni Rauf Aregbesola will support you for a second term, can you take it to the bank? Well, you’ll need to ask him. I can’t be in the position to read his mind. I am surprised you’re asking. I believe he is my brother and I believe at any point in time, he wants my success because I worked very hard for eight years for his own success as well. If (TOP) people are saying (that they won’t support me) I’m not too sure they are telling the story from his own heart. He remains my brother. They are not speaking his mind. Like I said, I don’t see why he would not be willing to support me if the people say they want me.

T H I S D AY ˾ ˜ 9, 2021

FEATURES

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

NDDC Audit Report, Scaremongers and Rabble-rousers Akpandem James

familiar drama is again playing out across the country since the completion and submission of the report of the forensic auditing of the Niger Delta Development Commission (NDDC). The theme as usual is based on the theories of two fallacies - Ad hominem and Straw-man. The cast is made up of the routine mercantilists who come in the mould of civil society organisations, youth groups, socio-cultural organisations, media hirelings and influencers. The script often leaves out the critical issue of the moment and dwells rather on tangential matters. The plot is to distract attention and help rogues escape public scrutiny. The reason the Niger Delta region has remained underdeveloped till today in spite of the huge resources pumped into the area by the various governments, intervention agencies, international oil corporations, oil services companies, development partners, global foundations, other corporate entities, wealthy individuals and community development efforts etc., is simply because the people are more inclined towards defending selfish and parochial indulgences than insisting on fundamental growth and development. The region receives arguably the highest amount of funds in the country from several sources, but it has very little to show in terms of development. Players often mouth the difficult terrain as reason why the huge amounts allocated to the region does not manifest in physical reality on ground. As partially true as that may be, it is often used as a cover up for the massive fraud that has become customary, perpetrated at all levels of governance - from the individual community level to the highest level of government. Truth be told, the state of the region today is a direct consequence of deliberate mismanagement and mindless plundering of resources by the various actors. It has little to do with the difficult terrain often being blamed, given the amount involved. After all, most tourism resorts across the world are built on very difficult terrains, with lesser resources. Unfortunately the NDDC that was set-up as an intervention agency for the region to be managed by indigenes became a corporate automated teller machine (ATM) for those with access to the password. The Niger Delta is one region that has various layers of “governments”; each with its own authority driven by vested interests. It parades the largest number of interest groups whose focus is self than community; a region where the youths lead and elders play along. Both are more interested in primitive acquisition of personal wealth than the development of their communities. The region harbours the highest number of civil society groups whose interests are more pecuniary than civil challenges. Politicians are more interested in what is going on in the NDDC than in their respective constituencies and states. For a good chunk, politics is their occupation and contract is their goal. Supervision and investigation are hardly tolerated. No meaningful development can take place in an environment where every move is driven by threats, protests, lockdowns and vandalism; where corporate blackmail has been elevated to an art. Even state governors in the region operate at the mercy of these tendencies. Only those who also wear the violent and stubborn toga operate with some level of authority. With these pack of tendentious elements all training their eyes on resources accruing to the region, visible community or regional development would be a miracle. It was expected that with the submission of the NDDC audit report some interest groups will be jolted; and as is customary, would be up in arms looking for a fall guy and a means of escape. Campaign of calumny and blackmail is usually the first weapon. It has become a familiar trend. Unfortunately, this unbecoming development is given impetus by the people of the region who not only willingly allow themselves to be used, but get easily distracted by the scheming of their plunderers. They leave the issue at stake and focus on personalities who, in most cases, may just be tangential to the issue in focus. The dress rehearsal for that familiar drama is already on; a flurry of the main stage play

AGF, Malami

is expected in the coming weeks as the Attorney General, Abubakar Malami, moves to interrogate issues involved in the report. Luckily the report got in while the National Assembly is still on vacation, otherwise we would by now be witnessing a wave of invitations of some critical players in the exercise, including the Minister of Finance to brief members on how the fees were paid to the auditors; the Niger Delta Minister to explain how the amount was computed; the lead auditors to explain how they arrived at their conclusions, and the Attorney General to explain why he received the report instead of the President. This would have been on till the federal budget is submitted in September. Work on the budget would be suspended until the Presidency explains why the forensic audit was instituted and why the Niger Delta Minister should not be sacked for allowing people who were elected to make laws to become contractors. Mercifully they are on break and Malami has this grace period to hasten up. But the issue here looks quite straight forward if the people of the region and indeed Nigerians are really interested in accountability and development. The report indicates that between 2001 and 2019, the Federal Government approved N3,375,735,776,794.93 as budgetary allocation and N2, 420,948.894,191.00 as income from Statutory and Non-statutory sources to the NDDC. That brings the total to approximately N6 trillion. The report also indicates that there is on record 13,777 projects, the execution of which is “substantially compromised”. The NDDC operates 362 bank accounts and lack proper reconciliation. These are the critical issues that should interest the people. They should be interested in the veracity and the reality of these presentations. How come the area is still a stretch of mangrove belt after all this? Who are those behind the state of affairs? What happens next? Of course Malami gave the major reasons for the audit exercise, one of which is to address the challenges militating against the delivery of the mandate of the NDDC

Niger Delta Minister, Senator Godswill Akpabio

to the people of the region. The other is to ensure probity and accountability in the use of public funds. The motive seems laudable, which is why it is highly disappointing to see those who should look forward to the fervent interrogation and implementation of the report from the exercise resorting to primitive sentiments and blackmail of the drivers. For instance, one of the most ardent critics of the Buhari administration and supposed campaigner against the marginalisation of the Niger Delta region commented on one of the WhatsApp platforms: “My question is, why the concentration on NDDC investigation when North East Development Commission which is also enmeshed in corruption is not investigated”. She saw the exercise as political blackmail. Responding to the post, a liberal commentator said: “My own question instead, chopping and burying the bones from the meal cannot go on forever. If forensic audit finally berths through selective abuse of political privilege, it is well. It sets precedent for the future. Before now, share, chop and clean mouth was the only unwritten rule”. Incidentally both are from the Niger Delta region, with two perspectives. Unfortunately the former is the dominant mindset of a typical Niger Deltan who sees nothing wrong with what her people are doing so long as others are also perceived as guilty. And this is the mindset that always allows scoundrels to get away with their kill. Ironically, they are the ones who complain the most about how things are not working in the country. All their bile is directed at the centre. Already a number of persons and groups are lined up to skin and dry the Niger Delta Minister, Senator Godswill Akpabio who is seen as the arrowhead of the forensic exercise. They are bent on exhuming all the debris about and against the man just to either distract attention or rubbish the report; but this is not about Akpabio, it is about the future and development of the region. In the first place, Akpabio did not instigate the probe, the governors of the region did.

In today’s Nigeria where every normal probe is seen as a witch-hunt, those who believe that other establishments should similarly be probed have a responsibility to get the relevant stakeholders to make a case for it, instead of wallowing in the self-righteous perception of selective antagonism

During a visit to President Muhammadu Buhari, they asked that janitors be sent to clean up the cesspit known as the NDDC. The governors cried out that their people were suffocating from the putrid fumes generated by the massive plunder in the establishment. In setting up the probe, the President was only responding to a request by one of the most critical stakeholders in the region. Akpabio, as head of the Ministry overseeing the NDDC, had a statutory responsibility to drive the process. He had no choice. So an attack on his person from whichever quarter at this time, whether directly related with the exercise or not, is an attempt to give a dog a bad name just to hang it. The issue for now is the audit report, not the minister. In today’s Nigeria where every normal probe is seen as a witch-hunt, those who believe that other establishments should similarly be probed have a responsibility to get the relevant stakeholders to make a case for it, instead of wallowing in the self-righteous perception of selective antagonism. It might not be the best approach, but that is what we have reduced the country to. The plundering in the Niger Delta region has been on for too long. It is not in the overall interest of the people for it to continue. The people themselves must help in putting a stop to it. Malami in his speech captured the scenario that “the welfare and socio-economic inclusion of the Niger Delta Region is paramount to the development and security of the region and by extension the country. Funds spent on development activities should as a consequence promote political and socio-economic stability in the region. Citizens affected by these development projects should also exhibit the ability to contribute to the continuous progress of their immediate and wider communities by engaging in constructive activities that will sustain and support these developments”. It is hoped that the Federal Government will walk the talk by applying the law to remedy the deficiencies outlined in the report while immediately commencing criminal investigations, prosecution and recovery of funds not properly utilised. It should also use relevant recommendations in the report to reposition and restructure the NDDC for efficiency and better service delivery. The Federal Government says it will, without hesitation, strategically implement all aspects of the audit exercise that will promote probity for the Niger Delta Region and Nigeria as a whole. The people are earnestly waiting. Government must ward off every pressure and distraction from scaremongers and rabble-rousers, under whatever guise, who might directly or indirectly want the report compromised in any form whatsoever. t +BNFT B DPNNVOJDBUJPO DPOTVMUBOU MJWFT JO "CVKB

T H I S D AY ˾ ˜ ͷ˜ ͰͮͰͯ

#THISISNIGERIA -Jonathan Franklin

A Country Cursed With Abundance

igeria is effortlessly one of the most resource-rich countries. The nation boasts of huge deposits of natural resources. In terms of arable land, we are not lacking. We have all that we need to be an excelling economy but so far the reverse has been the case. This begs the question ‘are these natural resources to our advantage or are they curses in disguise?’ Many theories have tried to explain this paradox, one of which is the Resource Curse Theory or the Paradox of Plenty. Resource Curse Theory In Action There have been many disturbing stories used by the government to justify sudden disappearances of funds or just conceal other forms of mismanagement: snakes swallowing naira bills, monkey carting away money, rats eating up important documents, treasury house coincidentally on fire during an investigation. The validity of these facts is not within our scope, what is, however, is our attitude towards them. We found them very amusing, we laughed over them, made memes and funny skits and that was it. Forgotten! What has natural resources got to do with this, you might ask. The primary source of government revenue is our natural resources – crude oil for the most part. We don’t care what happens to government funds, at least not as much as our counterparts in other countries would simply because those funds – a majority of it – were not directly sourced from our pockets. Now for context, imagine you earn N100,000 monthly and

you’re required to pay 20% of that amount as tax. You would be left with just N80,000. If you wake up the following morning to hear that government funds which were directly sourced from you were swallowed by a snake, it would be very unlikely for us to find this funny. We would be better incentivised to criticise the government and ask pertinent questions. There is, however, an unanswered question in this theory. Certain first world countries are resource-rich: the United States is a leading producer of coal among other resources and rare earth metals, Russia has the biggest mining industry in the world, Canada has the third-largest oil deposits after Venezuela and Saudi Arabia to mention but a few. So why do these aberrations exist? Why do these resources tend to have blessed a few and cursed some others? Asides from the correlation between tax and government irresponsibility, the availability of resources also ignites the potentiality for strife. Contrary to public opinion, resource control plays a major part in the unending conflict that has plagued the nation. Niger-Delta militants, Biafra secessionists are all byproducts of the fight for the control of resources. There's a theory that the entire Nigerian civil war was merely a proxy fight between France and Britain for who gets greater control of Nigeria's oil reserves. What then is the way forward? How can we as a nation break free from this curse that continuously plagues us?

The Way Forward There is no textbook solution to these problems, neither is there any straightforward answer. But one thing remains certain, the central government must relinquish its monopolistic hold on our resources. Each region must step up and manage its resources while paying taxes to the central government. Perhaps that would incentivise the government to diversify, utilise resources creatively and become responsible. Perhaps it would also jolt our lazy politicians from their reverie. During the First Republic, when regions controlled their resources, the nation witnessed rapid development owing to the competitiveness of the regions. The Northern regional government controlled natural resources in the region, while the Eastern and Western regional governments did the same in their respective regions. Motivated by this right of control, the Palm Produce Marketing Board, which had control of the revenue accruing from the export of palm produce to the United Kingdom, empowered Dr. Michael Okpara’s government in the Eastern region. This facilitated the funding of the African Continental Bank and the University of Nigeria, Nsukka among others. In the North, Sir Ahmadu Bello, the Premier of Northern Nigeria, set up the Groundnut Marketing Board. He utilised the accruing revenue from the export of groundnut for the development of the Northern region. This includes the establishment of Ahmadu Bello University,

and the Bank of the North among others. In the Western Region, Obafemi Awolowo set up the Cocoa Marketing Board. Like his counterparts in the Eastern and Northern region, he also utilised the accruing revenue from cocoa export to the United Kingdom in funding a free primary education policy and establishing the first television network in the country. Economically, Nigeria was on the path for greatness, until Decree 34, the torrid mistake that disrupted the beautiful story of Nigeria. Decree 34 ensured that all powers, resources and responsibilities rested with the military's 'Supreme Military Council'. The Military would then go to hold power for 13 years (1966 and 1979) before Nigeria began practising federalism. Like the messiah narrative with which the current administration rode into power, federalism came with a lot of promises. It was portrayed to be the best system for a large country such as Nigeria, given that it allowed for some form of autonomy and more importantly, that it allowed each region to develop at its own pace. The biggest mistake, however, was placing resource control under the exclusive preserve of the federal government, as it ensured that each region and the exploration of its resources were under the control of the central government. Rectifying that mistake is Iong overdue. Whether it will work or not is another matter. One thing, however, is sure - this current system is not working. t+POBUIBO 'SBOLMJO JT B MFBSOJOH GBDJMJUBUPS CBTFE JO "XLB

THURSDAY SEPTEMBER 9, 2021 • T H I S D AY

T H I S D AY ˾ THURSDAY, SEPTEMBER 9, 2021

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

S E P T E M B E R

S & P INDEX

8 , 2 0 2 1

S & P INDEX

EXCHANGE RATE

OBB

8.83%

CALL

INDEX LEVEL

567.15%

1/4 TO DATE

6.41%

N411.50/ 1 US DOLLAR*

OVERNIGHT

9.33 %

1-MONTH

1-DAY

-0.13%

YEAR TO DATE

– 15.39%

*AS AT LAST WEDNESDAY

3-MONTH

10%

MONTH-TO-DATE

0.74%

Telecoms Subscription Picks Up After Five Consecutive Months of Continuous Slide, Globacom Gains Market Share MTN, Artel has 39.01%, 26.83% market share Sales, activation of new SIM cards suspension slowed growth

Emma Okonji Subscription across telecoms networks such as Globacom, Airtel, 9mobile and MTN, picked up in the months of June and July 2021, after a continuous slide in five consecutive months from January 2021 to May 2021. According to the latest statistics released by the Nigerian Communications Commission (NCC), the

telecoms subscription picked up slightly from 187.026 million subscriptions in May this year, to 187.611 million subscriptions in June, with a further slight increase in July this year, to reach 187.805 million subscriptions with a teledensity of 98.39 per cent. The NCC numbers showed that telecoms subscriptions had reached as high as 200.213 million, with a teledensity of

104.89 per cent in January this year, but suddenly experienced a gradual slide from February this year to May, when it dropped to as low as 187.026 million subscriptions in the month of May, with a teledensity of 99.98 per cent. The subscriptions, the NCC numbers revealed, however, picked up again after May, precisely in June and July to reach 187.611 million subscriptions and

187.805 million subscriptions respectively. Analysis of the NCC data revealed that Globacom, for instance, added over a million new customers to its subscriber base, with an additional market share of 0.51 per cent in the month of July, 2021. Globacom, the data showed, increased its market share from 26.77 per cent in June, to 27.28 per cent in July this year, while

9mobile maintained a steady market share of 6.89 per cent, without gaining or losing market share from June to July 2021. The data showed that Globacom added 1,007,259 new subscribers to make its subscriber base grew from 50,130,540 in June to 51,137,799 at the end of July, making it the second largest telecoms network in Nigeria, after MTN, which has 73,123,732 subscribers, with the

largest market share of 39.01 per cent, as at the end of July. The NCC data shows that MTN is currently leading the Nigerian telecoms market in terms of subscriber number, followed by Globacom, Airtel and 9mobile. While MTN has over 73 million subscribers on its network, with a market share Continued on page 28

Stakeholders Pick Holes in Nigerian Postal Commission Bill, Identify Anti-competitive Clauses that Negate Business Growth Emma Okonji The Association of Nigerian Courier Operators (ANCO), has faulted the Nigerian Postal Commission Bill, which has passed three readings at the National Assembly and awaiting harmonisation and assenting into law by President Muhammadu Buhari. The courier stakeholders raised concerns over Article 68(2)(b), which stipulates 2 per cent contribution to the commission’s

fund by all courier operators, from their annual turnover, as part of their annual dues. They also identified Article 10(1)(a) of the bill, which gives exclusive powers to the Public Postal Operator (PPO) that is owned by government and managed by the Nigerian Postal Service (NIPOST), to collect, accept, process, convey and deliver postal articles weighing up to 1kg. According to them, the identified articles in the bill,

were anti-competitive that could negate courier and e-commerce growth in Nigeria. Reacting to the bill, the stakeholders expressed their worries about the exclusive powers given to the courier operator that is managed by government. They were also worried about the two per cent compulsory contribution to the Nigerian Postal Commission fund. They were of the view that the exclusive rights for PPO like EMS SpeedPost that is controlled

by government, would amount to anti-competition that would negate the growth of courier business in Nigeria. The private courier operators called on members of the National Assembly to revisit Articles 10(1)(a) and 68(2)(b) of the bill and amend same, before harmonisation and assenting into law. Policy Consultant to ANCO, Dr. Chukwuemeka Ujam, said the bill, if passed into law without amending Articles 10(1)(a) and

68(2)(b), would ground private courier business in Nigeria. According to Ujam, “Article 68(2)(b) requires licensees to contribute 2.0 per cent of their turnover to the commission’s fund. This is not a fair method of levy, as courier companies’ revenue encompass debts, several other taxes and levies by various states of the federation, like the Federal Airports Authority of Nigeria (FAAN) and airport charges. “The industry is currently

beset with a variety of taxes at national and sub-national levels, some of which include statutory company income tax, VAT, WHT, FAAN/ SAHCOL/NAHCO charges at the airport, annual license renewal with the Courier and Logistics Regulatory Department of NIPOST (CLRD), LASAA signage levies, mobile adverts and similar charges in other states of the federation all of which are Continued on page 28

D ATAA SA SATATW W D AY,S EAPUTGEUMS BT E1R1 ,8 ,2 02 20 12 1 MM A RA KR EKTE TD ATA E DE ND ENSEDSAY, ONNDDSS FFGGNN BBO DESCRIPTION 11.668 FGNSB 11.150 15-AUG-2021 11-SEP-2021 10.301 FGNSB 12.364 16-AUG-2021 12-SEP-2021 11.150 FGNSB 12.175 11-SEP-2021 10-OCT-2021 12.364 FGNSB 11.244 12-SEP-2021 16-OCT-2021 12.175 FGNSB 10.296 10-OCT-2021 13-NOV-2021

BILLS

OTC FX F U T U R E S

100.09 100.07

3.16 2.77

Change Change (%) (%) 0.00

100.10

3.16 2.78

0.00

9-Sep-21 NTB 30-Sep-21

3.10 2.94

3.11 0.00 0.00 2.95

100.67 100.78

3.13 3.07

0.00

16-Sep-21 NTB 14-Oct-21

3.15 3.08

3.16 0.00 0.00 3.09

100.80 100.83

3.12 3.13

0.00

30-Sep-21 NTB 28-Oct-21

3.25 3.21

0.00

NTB 11-Nov-21 14-Oct-21

3.35

Price

101.47 101.22

Yield

3.08 3.41

MATURITY

Change(%) (%) Discount Yield Change

26-Aug-21 NTB 16-Sep-21

3.00 2.81

3.00 0.00 0.00 2.81

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

AUG29 252021 2021 420.93 NGUS SEP

SEP 27 29 2021 422.38 NGUS OCT

OCT 27 NGUS NOV 24 2021 423.83

3.26 0.00 0.00 3.23

NOV29 242021 2021 425.28 NGUS DEC

3.37 0.00 0.00

DEC26 292022 2021 426.73 NGUS JAN

CCPs Ps MATURITY

Discount Discount Yield Yield Change Change(%) (%)

MREP CP XXXI MTNN III 2013-AUG-21 SEP-21 UNCP CP XXXIX III 27MREP AUG-21 20-SEP-21 VAAG CP IXV 27-11CMBL AUG-21 OCT-21 TTNG CP VIII II 31UBNP 18AUG-21 OCT-21 SIBP CP CMBL CPI 2-SEPXII 3121 OCT-21

9.02 5.98

9.03 5.99

4.26 16.92

4.27 17.01 0.00 0.00

10.20 6.45

10.25 6.48 0.00 0.00

4.59 8.06

4.60 8.13

0.00 0.00

4.13 4.30

4.14 4.33

0.00 0.00

THURSDAY, SEPTEMBER 9, ͰͮͰͯ ˾ T H I S D AY

BUSINESSWORLD

NEWS

MARITIME SECTOR STAKEHOLDERS…

L-R: Executive Director, Operations, Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Ahmed Shehu; Director General of NIMASA, Dr Bashir Jamoh; Executive Secretary of Nigerian Shippers’ Council (NSC), Mr Emmanuel Jime; and Executive Director, Finance and Administration, NIMASA, Hon. Chudi Offodile, during a courtesy call on the Director General of NIMASA by the Shippers’ Council Executive Secretary

Manufacturers Call for Speedy Resolution of Controversy Over Value Added Tax Collection Dike Onwuamaeze The Manufacturers Association of Nigeria (MAN) has strongly appealed to the federal and state governments to find a mutually acceptable resolution of the controversy on which tier of government would control the collection of the Value Added Tax (VAT) from businesses in the country. A press statement that was issued yesterday by the Director

General of MAN, Mr. Segun Ajayi-Kadir, stated clearly that manufacturers could not afford the anxiety and confusion that this controversy has been generating. Ajayi-Kadir said: “The recent controversy over the control of the VAT between the federal and state governments, the seemingly conflicting court judgments and strong statements emanating from the two tiers of government is unhealthy for business. “Manufacturers, like many

other business operators in Nigeria, are deeply concerned about what becomes of their fate come September 20 when businesses are expected to file value-added tax (VAT) claims and beyond. “We should not be made to suffer while the two tiers of government fight over who should control VAT. Also, we should not be put in a situation where we have to pay both governments the same tax. This will amount

to overkill for the struggling manufacturing sector, and I dare say, a recovering economy. This is potentially dangerous, not only to the profitability of the manufacturing sector; it is ruinous to the disposable income of the average Nigerian consumer.” The controversy was stirred by recent court judgment that granted the Rivers State Governments the right to collect the VAT from businesses in the state. Currently, the Rivers State

has enacted and signed its VAT law while Lagos State is in the process of enacting its own version of VAT law. But the manufacturers’ association has stated that it would be worst hit by the controversy. The MAN said: “As the leading players of the VAT in Nigeria (having contributed N44.9billion in the first half of 2021, according to NBS) the manufacturing sector is going to be hardest hit by this looming impasse.

“The contentions are worrisome and potentially inimical to the smooth operations of our businesses. On the one hand, The Federal Inland Revenue Service (FIRS) is insisting on continuing to collect the VAT. Rivers State Government is ordering immediate and complete collection of the same tax. Lagos State is preparing the grounds to go the way of Rivers State. Who knows, other states may be warming up to join the fray.”

NCS Tasks FG on Sustainable Environment to Drive Industrial Revolution Emma Okonji

The Nigeria Computer Society (NCS), the umbrella body of all Information Technology (IT) professionals and interest groups in the Information and Communications Technology (ICT) sector, has called on the federal government to create a suitable environment for learning, research and development, with synergy among stakeholders in order to achieve a sustainable industrial revolution framework. NCS made the call during its 2021 International Conference, which held recently in Uyo, Akwa Iboma State. NCS said the theme of

the conference, ‘Innovative Systems for Digital Economy (ISDE 2021)’, originated from government transformational agenda towards digital economy, business and enhancement of the life of her citizens through social engineering. The conference’s theme leveraged on how the digital economy is deeply changing the actions of governments, businesses and citizens. Speakers and participants at the conference, stressed that innovation remained central to digital transformation, and urged governments, businesses, academia, the technical community and civil society, to consider the broad social, economic and technological trends

affecting the development of the digital economy and come up with policies that could respond to evolving societal demands. President of NCS, Prof. Adesina Sodiya, in his welcome address, highlighted the importance of local content development and capacity building across the country, in driving digital transformation. According to him, “Governments and corporate organisations should collaborate to increase patronage of local content as part of the strategies to move the nation forward.” Chief Host of the conference, the Executive Governor of Akwa Ibom State, Mr. Emmanuel Udom, who was represented by Secretary to the State

Government, Dr. Emmanuel Ekuwem, charged NCS to work with the relevant agencies to develop capacity building programmes targeted at five million young persons on innovative systems and digital literacy for economic prosperity, wealth creation, and employment opportunities within the next year. At the end of the conference, NCS issued a communique, which highlighted key issues and resolutions at the conference. Part of the communique emphasised the need for the Ministry of Communications and Digital Economy in conjunction with NCS, to create opportunities and platforms for developing

start-ups and young innovators in Information Technology. The conference further resolved that members must work with governments and other international organisations to provide services in critical sectors of the economy such as health, education, agriculture (for food security), production, environment, among others, for the benefit of the teaming populace. According to the communique, NCS should design and develop a framework for corporate organisations to create a system for internship and job placements for students to help bridge the gap between industries job requirements and academic curriculum.

“Federal Ministry of Communications and Digital Economy and NCS should facilitate improved Public Private Partnership (PPP) in capacity building and development towards achieving the new governance methods. Information security should be considered and incorporated into the development of all innovative systems in digital economy. The Ministry of Communications and Digital Economy should promote and support high impact developmental research that will spur innovations needed for total transformation to digital economy,” the communique further said.

STAKEHOLDERS PICK HOLES IN NIGERIAN POSTAL COMMISSION BILL, IDENTIFY ANTI-COMPETITIVE CLAUSES THAT NEGATE BUSINESS GROWTH

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

responsible for the high rate of attrition in the industry.” He argued that the proposal of an additional 2 per cent on revenue, would discount the fact that not all revenue becomes profitable and is collectible at the end of the financial year as some portion will be reported as bad and doubtful debts while some will be written off as bad

debts. “The desire to introduce another two per cent on revenue line, creates a cherry-pick scenario without identifying the realities of overheads and other cost lines before extracting a profit, if any, ”Ujam said. He further said: “The company income tax averages 35 per cent on profit before tax and upon

further analysis, two per cent on gross revenue in addition to annual licensing fees, will impact profit before tax by over 30 per cent, which technically amounts to double taxation. By implication the industry will be made less attractive to investors when compared with industries without this additional layer of tax, and dividends payable to

investors will diminish.” Addressing the potential impacts of the bill, Ujam said the exclusive powers and the additional two per cent contribution would further force consumers and businesses to use the Public Postal Operator, rather than express service companies, thereby damaging local businesses, and forcing

local courier companies to close, thereby reducing foreign investment. A senior management staff of NIPOST, who spoke in anonymity, told THISDAY that since the bill had passed the third reading at the floors of both the Senate and House of Reps, it would not be necessary to comment on it.

TELECOMS SUBSCRIPTION PICKS UP AFTER FIVE CONSECUTIVE MONTHS OF CONTINUOUS SLIDE, GLOBACOM GAINS MARKET SHARE of 39.01 per cent, as at July this year, Globacom has 51,137,799 subscribers with a market share of 27.28 per cent, as at July this year. Artel has 50,301, 237 subscribers with a market share of 26.83 per cent, as at July this year, while 9mobile has 12,908,092 subscribers with a market share of 6.89 per cent, as at July 2021. Telecoms analysts and President, National Association

of Telecoms Subscribers (NATCOMS), Chief Deolu Ogunbanjo, said the slight increase in subscriber number and market share, was a sign that the telecoms industry would renounce again after the huge drop in telecoms subscriptions between January and May 2021, which he attributed to the suspension of sales and activation of new SIM cards in December last year by

the Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami. “Since the suspension order has been lifted and there has been a continuous extension of the deadlines for the integration of SIM cards with subscribers’ National Identification Number (NIN), I strongly believe that growth in telecoms subscriptions will pick up again, as seen in the

months of June and July this year,” Ogunbanjo said. However, the NCC data showed that internet subscriptions across various technologies like Mobile GSM, Fixed Wired Network and Voice over Internet Protocol (VoIP), dropped from 140.488 million in May to 140.175 million in June, with a further drop to 139.744 million in July 2021. From the statistics, the active

subscribers for internet data services on each of the licensed service providers utilising the different technologies, such as Global System for Mobile Communications (GSM) and Code Division Multiple Access (CDMA), revealed that mobile internet data on GSM technology, ranked highest, followed by those on CDMA technology and Fixed Wired technology.

T H I S D AY ˾ THURSDAY, SEPTEMBER 9, 2021

BUSINESSWORLD

INTERVIEW

Dangote: Why I Dumped Trading for Manufacturing The President of the Dangote Group, Mr. Aliko Dangote, explains why he jettisoned the easy way of making money from buying and selling of commodities to venture into the much challenging business environment of manufacturing Nigeria. He also speaks on what the African Continental Free Trade Area (AfCFTA) agreement means to the group in a fire chat with an Economist, Dr. Doyin Salami, during the High-Level Roundtable Discussion on Industrialisation in Africa to heralds the 50th-anniversary celebration of the Manufacturers Association of Nigeria (MAN). Dike Onwuamaeze brings the excerpt: From your Pan Africa experience as an operator in 17 African countries, what is your thought about Africa developing a competitive manufacturing sector?

Thank you very much. To be really globally competitive we must produce very high-quality products and we have to produce them at the cheapest cost possible. Others have been there before us if you look at the Asian tigers but I know that it is never late because this can actually be done. But what I think we need to do is to concentrate first on meeting our own domestic demand, by producing high quality at the lowest price. If we do this we will be able to export to other countries and get their markets. That was what the Asian tigers did. They first concentrated on their domestic market and kept on improving on the quality and the cost of whatever that they were producing. Of course, initially, we might need government support to stabilise and be able to compete anywhere in the world. But I think that government has to remove most of the hurdles in terms of poor infrastructure and unfriendly regulations and improve our power and ports environment. When we decided that we want to make Nigeria self-sufficient in cement, what we did, knowing that people will challenge us in terms of quality, was to start by investing heavily in technology to make sure that whatever that we want to produce in terms of quality is possible so that if the foreign markets open up we will be able to compete both in terms of quality and pricing. So, we did these investments and that has also given us a lot of edge by as we are able to go to markets like Cameroun, that even though a competitor has been there for 50 years, we were able to take the market because of quality and price of our products. I think we need to do quite a lot in terms of pricing because if your pricing is not right there is nothing you can do because no one is going to buy your product. We have already built that case in our cement and that is the business case we want to build in our fertilizer, our oil and gas, and in all other products that we want to export to African countries. You group has diverse interests across countries in the continent and the issue of protectionism is very rife in the continent. What is your advice to the managers of the AfCFTA to ensure that we achieve cross border collaboration that can engender meaningful competition across the continent?

My advice to everybody when you look at it from the AfCFTA’s perspective and the potentials that it has, is to speed up its implementation. What are the things that we need to do? They need to sit down and ask themselves how we implement this because there are still issues that they are still battling with and I believe that they need to address those issues. And we need to also dig down to know why previous regional agreements in Africa have not worked? If they are working we wouldn’t be at about 15 per cent intra-African trade with Africa. We need to look at those issues and ask why and what happened? Today it takes us two weeks to go to Ghana from Nigeria, which is something we are supposed to do in 10 to 12 hours. You invest in trucks to take cement to Ghana and it takes you two weeks and going to Lome in Togo, which is about 270 kilometers from Lagos, is taking us 10 days today as we speak. If that is the case we are not going to be competitive. You are talking about gas? Our gas prices here are almost double than other normal areas. So, how can we be competitive? Government has to do quite a lot in terms of having the political will to remove all these bottlenecks at the borders. Why will they want to hold somebody going through the borders when they know that these goods have to pass under the signed agreement? There are quite a number of issues that we need to address. For example, today, if I want to go through the ports the government will charge me $10 per tonne even though I am exporting a very cheap product to the next country. So why should I pay $10 per tonne in terms of port charges? So, I think that there are quite a lot of areas we have to look at to make

“The border crossing is the most important one for us. We must make sure that crossing our borders does not take time. It will not make sense at all if it is going to take time.”

this thing competitive. The border crossing is the most important one for us. We must make sure that crossing our borders does not take time. It will not make sense at all if it is going to take time. People would rather ship from China straight into their markets. So, we need to be very, very, careful. Similarly, when you look at it today, every single border you go to has different charges. So, I think that governments need to focus on this by removing all these impediments and barriers and make sure that we have a very free flow for businesses. We will never be competitive if we do not do that. The whole idea for us is to improve and get this intra-African trade to be almost about 55 to 60 per cent. We actually need to work with the government to remove these bottlenecks, which will need a lot of political will by governments. Let me give you a typical example. A lot of countries signed in preparation for the AfCFTA take off to have one single Africa passport. I have gotten mine. A President in Africa that I will not like to mention invited me to come and see him and I went there but they did not recognise that passport. It was recognised in South Africa but not far away from South Africa, they said that I still need to have a visa to travel. So the movement of goods, services and people is still so very tough and for the AfCFTA to work we have to remove all these impediments and this needs a lot of political will. How ready is the Dangote Group to be a participant in the AfCFTA? Thank you. You know that long before the AfCFTA, we have always designed and planned to be an export-based company. If we had relied on importing wheat to produce flour and pasta, that business would have folded because we are not going to be competitive relying on the international price of wheat. So, we are not touching anything that we cannot achieve through local backward integration to produce and export. This is what I keep telling people. At first, people thought that we (Dangote Group) were not interested in the AfCFTA. No! We are interested in the AfCFTA because we are going to be the major beneficiaries. Number one, if you look at it today, we have the largest fertilizer plant in Africa so we will supply fertilizer all over the continent.

We are building the largest petrochemicals on the continent. We are also building 650,000 barrels per day petrol refinery. All these are not for the Nigerian market alone. They are actually for Sub-Saharan Africa because all the Sub-Saharan African countries are importing their petroleum products. When you look at it today, in cement we have created huge capacity in terms of exports. We already have two port terminals that have the capacity for eight million tonnes, one in Port Harcourt and another in Lagos for us to be able to export cement. Despite our gas prices, despite even the port charges we are still okay in terms of being competitive. So, if we start all our exports, we will be able to export more than $12 billion worth of goods, and that has actually put us as one of the highest in Africa, if not the number one. Trading seemed an easier proposition. Why did you go into manufacturing giving all the difﬁculties that you have listed? Before I started manufacturing I do not have a single gray hair. But you have to check why other entrepreneurs before us that tried manufacturing were not really very successful? For manufacturing, you will need very stable government policies. You need to have electricity. These two things are the most important. And I am glad that today we have a good relationship between the government and the MAN. The government’s own is to listen as we tell them areas that are not implementable. Then back to your question on how I got into manufacturing. For me, it is better that I go into manufacturing than trading. Trading does not add value and is just a temporary thing because one can be trading today and tomorrow decides to shut down his shop. But manufacturing is where you will create massive jobs and also leave a legacy and the whole thing for me is to build something that I should leave as a legacy to future generations. At a time Nigeria was importing almost 90 per cent of the cement consumed in this country. But we took it upon us to make sure that we will make Nigeria self-sufficient and also export the excess that we have. For me, trading is really not the right way to go. I know, yes, that manufacturing is really difficult but we have to work together with the government to make it much easier so that we can add value. Somebody who is trading has a simple lifestyle: he sits in his office and order goods, they arrive and he sells without adding any value. But for manufacturing, you are creating value for yourself, for the society, for the country, and for everybody.

THURSDAY, SEPTEMBER 9, ͰͮͰͯ ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Obi: Advocacy on Women’s Rights Will Address Gender-based Violence Ugo Aliogo and Loveth Chinagorom, engaged the Country Director, ActionAid Nigeria, Mrs. Ene Obi, on scaling public investments in agriculture, and the issues of gender-based violence, as well as the cholera response project in Bauchi State, among other issues. Excerpts ActionAid is currently working in Bursari LGA of Yobe State and plans have been concluded to start work in Marte, Abadam and Guzamah LGAs, Borno State. What is your assessment of the living conditions of the Internally Displaced Persons (IDPs) in those areas? Are you collaborating with any organisation or agency of government to carry out your intervention efforts? he conflict in the North-east of Nigeria has lasted for over a decade. The peak of the crisis was between 2009 and 2016. There have been improvements on all sides including security, response to the need of the people who are displaced and living in camps or host communities and even those who are not displaced but have been largely affected by the insurgency. One of the major concerns of the current Governor of Borno State is the destruction of rural life in Borno. As of now, Aid agencies such as ActionAid have continued to provide life-saving emergency support to those in great need, and also the support that helps the communities recover and build back with dignity. ActionAid believes in working together with the affected persons, the government, sister organisations and this has remained integral in our approach. We are working with community groups, displaced persons, various state governments in the Northeast and partnering with state, national and international actors. Just to point out that we had plans of working in Marte, Abadam and Guzamala with support from the World Food Programme (WFP) but due to access constraints, in consultation with the state government, we had to put on hold those plans for now. We are currently supporting with food assistance in Bursari LGA of Yobe State.

application supports to farmers, poor literacy level of most of the women, and the failure of the credit managers to adopt credit models that take cognisance of the farmers’ realities and take advantage of the traditional savings cooperatives which these women already belong to. FMARD, states ministries of agriculture, and local government councils should play an active role in ensuring more public awareness on the various agricultural credit schemes in the country. They should create yearly budget line with the agriculture budget on strengthening access to credit to offer handholding technical assistant to smallholder farmer cooperatives especially women cooperatives to ensure proper documentation of applications, meeting loan criteria, make loan submissions, coordinating loan management, and overseeing repayment programmes. The states and local government councils should better coordinate and play an interface role between the smallholder farmers and credit administrators. This is another window where Public-Private Partnership can come in and State and LGAs should explore this window. Government should invest in youth-friendly agriculture as a means of ensuring sustainable food security and as a means of reducing the alarming unemployment rate among them.

How much effort is ActionAid putting in place to tackle food security of Internally Displaced Persons (IDPs) in Marte, Abadam and Guzamah LGAs, Borno State and Busari in Yobe State? In terms of improving their conditions, are you providing psycho-socio support to these IDPs and what is the response level like so far? ActionAid Nigeria has worked to improve the food security needs of households affected by the insurgency. Specifically for our food security and livelihood interventions, we are currently working in Jere, Konduga, Kaga, MMC in Borno State and Bursari LGA in Yobe State. And like I said earlier, we have plans of going into Guzamala, Abadam and Marte but had to suspend those due to access constraints. We are supporting communities with livelihood, trainings, and in-kind food assistance. We always integrate Psychosocial Support (PSS) into all our programmes; including standalone PSS programmes. We have seen great results in our work; children who were severely malnourished come into our programme and become happy children because they have been supported with nutrition supplements. We have been able to place children into foster homes, those who were separated from their families and were unaccompanied. The results are enormous, and we are very happy to do this. We are currently supporting the operationalisation of the Humanitarian Development and Peace Nexus across the BAY States (Borno, Adamawa and Yobe) because the region we believe must overcome her current challenges and build back even better and for this to happen, all actors and sectors must work together. There is an emergency cholera response project in Bauchi State. What is the level of commitment in addressing the health challenge? Would you say appreciable progress has been recorded so far, and are you impressed with the interventions you are making in Bauchi State or is there need to rejig your strategies? The Cholera outbreak in Bauchi State reached a crescendo in May 2021, when the daily average positive case was at 120. Prior to this time, the state government and some other stakeholders had mapped out strategies on how to combat the continued spread of the disease, but with little or no funds to action out the strategy. With the timely intervention from ActionAid Nigeria emergency response and funding from Start Fund, there has been a drastic reduction

Obi in the daily infection rate. According to the Bauchi State Primary Health Care Agency, responsible for the coordination of interventions, the current daily infection rate has dropped from between 60 – 80. ActionAid Nigeria grassroot sensitisation, household disinfection, engagement with relevant authorities, trainings and deployment of strategic communication played key role in the current reduction in the spread of the disease. The highest record of infection rate was recorded in Bauchi LGA and this infection rate has reduced because of the intervention. However, just like any other emergency intervention, ActionAid Nigeria’s Cholera intervention in Bauchi State has a short time limit, which has currently elapsed, but we are working with other relevant state and non-state actors to maintain the tempo even as we work to seek more intervention funds towards the eradication of the scourge. In November 2019, you continued your intervention project on migration in Edo State tagged: ‘Dare to Hope’. What was the focus of the project, and what was the level of success achieved in the ﬁrst phase of the project? The Dare to Hope project is focused on building economic alternatives to migration for young people who have returned from destination countries such as Italy and Spain (and potential migrants). As you are aware, it is a fact that Nigeria currently is ranked the fifth nation in the world for number of citizens migrating to Europe in search of better living conditions or in the effort to escape poverty and conflicts. The leading cause for this huge movement of a portion of the Nigerian population is the search for income alternatives by Nigerians for themselves and their families. Current statistics show that over 50% of Nigerian youths are either unemployed or underemployed. For us, this is rooted in the conviction that unemployment represents one of the main causes of forced migration. The creation of an alternative to migration through socio-economic development, sensitization and conflict prevention project was conceptualized and implemented specifically to tackle the root causes of irregular migration such as unemployment; by training, equipping and mentoring youths on agriculture, auto- mobile repairs, carpentry/ furniture, tailoring, shoe-making, bag-making,

cosmetics, aluminum works so that they can engage in economically viable and productive activities. The second phase of the project is scaling up to reach more of the young people (returnees inclusive) who are susceptible to poverty or crisis-induced migration. How do we scale public investments in agriculture both from the political and budget commitment angles? Scaling public investments in agriculture requires moving from policy to action. As approved by the 44th National Council on Agriculture and Rural Development (NCARD); the three tiers of government should commit 10 per cent of their annual budget to the agriculture sector to meet the 10 per cent Maputo/Malabo Declaration required to support at least 6 per cent growth rate for the sector as postulated in the CAADP framework. There should be political will to allocate at least 10 per cent of annual budgets and actuals of revenues to the agriculture sector with appropriate budget lines so that Nigeria will be on track in the next Biennial Reporting to the African Union Heads of States and Government in line with the Malabo Declaration and Commitments of 2014. Federal and state governments should allocate more public investments in agriculture to address the strategic areas of investments that would increase the agricultural GDP to at least 6 per cent. The strategic areas of investments include extension services, access to credit, women in agriculture, youth in agriculture, appropriate labour-saving technologies, inputs, postharvest losses reduction supports (processing facilities, storage facilities, trainings, market access, and others), Climate Resilient Sustainable Agriculture (CRSA)/Agroecology, research and development, monitoring and evaluation, as well as coordination. Access to credit and financial services (from government and nongovernmental channels) by smallholder farmers particularly women are very poor at an average of 43 per cent in Nigeria. The criteria to access formal financial credits schemes and programmes can neither be understood nor met by over 70 per cent of smallholder women farmers. This is due to high level of bureaucracy; complexity of application processes, failure of state and local government to provide

How should government strengthen accountability and transparency in the Home-Grown School feeding Programme (HGSFP)? Are you impressed so far with the way government is handling it? The best way to strengthen the HomeGrown School Feeding Programme is for the government, at all levels, to strengthen its monitoring structures. The experience of the series of sharp practices noticed in the programme calls for this. Secondly, the government needs to sign the Social Investment Programme (SIP) into law so that successive governments can sustain the robust and highly beneficial programme. Thirdly, the government must do everything possible to ensure that there is no break in terms of making payment to the cooks, because long delays affect pupils’ attendance in schools. I am not really impressed by the way the government is handling the programme and not pleased with many citizens who are truncating the system. Lack of proper monitoring and delay in making payments to the cooks is seriously dragging the programme back. Citizens must take responsibility as well to ensure transparency and accountability in the process. Sometimes, the system can be truncated at the state level so all stakeholders must work together for more success to be achieved. Can you give an insight into your work on social justice and governance accountability? A good example of our work on social justice and government accountability is what we are doing with the Promoting Accountability and Transparency in the School Feeding Programme (PATS-F) PATS-F project. I believe that we are doing well to ensure that the child gets the rights and opportunities he/she deserves. The pupils deserve the right to education, therefore every effort of the government at ensuring that the child attends school is highly commendable and so, everyone has the right to hold the government accountable to ensure that the right thing is done, which is what we are supporting in the PATS-F. Our programme aims at ‘opening the doors of access and opportunity for everyone, particularly those in greatest need’. The work we do from our governance thematic as well as Women’s Rights thematic areas respond to so many areas including series of projects on anti-corruption, public finance analysis and engagement with the parliament at different levels, gender-based violence, promoting women’s voices in representation and leadership, youth-focused interventions, tax justice, social mobilization, girl child education in breaking barriers, working with people with disabilities, work on elections, and using human rights-based approach to all the work we do. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ THURSDAY, SEPTEMBER 9, 2021

BUSINESSWORLD

NEWS

Data Centre Operators Restate Commitment to Grow Africa’s Digital Infrastructure Emma Okonji Leading data centre operators across Africa are investing massively in expanding their footprint to power the explosive growth in data consumption and digital services fuelled by the COVID-19 pandemic. The investments will ensure that large enterprises delivering services across Africa, and global Content Delivery Networks will be able to provide seamless and uninterrupted services to their subscribers without incurring the costs of building their own data centres. This was revealed at the recently concluded plenary session at the International Telecoms Week 2021, themed: “Explore the growing Data Center ecosystem in West Africa,” sponsored by MainOne. The panel comprising of the leadership of leading data centre businesses across the continent, included the CEOs of MainOne, Funke Opeke, Ayotunde Coker of Rack Center, Wouter van Hulten of Pan-African Internet Exchange Data Centres (PAIX), Stephane Duproz of Africa Data Centres and was moderated by Guy Zibi of Xalam Analytics, the leading analyst covering data center developments on the continent. The industry leaders highlighted the acceleration of investments in the digital infrastructure space in the region brought about by the COVID-19 pandemic, which exposed the gaps that exist in the

market. Of particular note was the fact that West Africa currently delivers less than 10 per cent of the total African data centre capacity and that Africa, which is home to about 17 per cent of the world’s population, has only 1 per cent of the global data centre capacity. This under-representation points to the fact that majority of data content consumed in Africa is hosted outside the continent and the market is severely underserved.

The speakers agreed that the market was ripe for expansion given the increasing access to broadband and the rapid uptake of services by large enterprises, FinTechs, and global players entering the region for the first time. In addition, the companies expect that growth to skyrocket with the new submarine cables planned by large global content providers and the deployment of edge nodes in the region.

SECURITY MEETS BUSINESS…

Information and communications technology stakeholders and chief executive officers are set to make projections at the annual ICT Impact CEO Forum, slated for September 24, 2021. Editor-in-Chief of ICT Watch magazine, Mr. Tayo Adewusi, who is the organiser of the forum, said the forum would recognise distinguished individuals, government agencies and state governors who have deployed the power of ICT to execute ideas. The Minister of Communications and Digital Economy, Dr. Isa Pantami will be the special guest at the event while the Governor of Ondo

State, Arakurin Oluwarotimi Akeredolu will be the Chairman of the Occasion and deliver a welcome address. The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Umar Danbatta will deliver tge keynote. At the event, eight lead papers would be presented. The Chief Executive Officer of MainOne, Ms Funke Opeke will speak on why data is the new oil in the digital economy? While the second lead paper would be addressed by the President of Medallion Communications, Engineer Ikechukwu Nnamani who is also the President of ATCON. The Director-General of the National Information Technology Development

Agency (NITDA), Mallam Kashifu Abdullahi, is expected to deliver a paper on ‘the Nigerian Data Protection Regulation and the Future of Data Governance. The Managing Director of Galaxy Backbone, Prof. Muhammed Abubakar is expected to present a paper on ‘How to Make Your Leadership Data Literate’, while the Chief Executive Officer of VDT, Engr. Biodun Omoniyi would deliver a paper on ‘Measure What Matters: the Art and Science of Measuring the Success of Your Data. The Managing Director of Inlaks, Femi Adeoti is billed to present a paper on ‘Business Data Analytics: the Business Side of Using Data for Decision making.

FEDA Makes Inaugural Investment into Liquid Intelligent Technologies Emma Okonji African Export-Import Bank (Afreximbank) has announced a minority investment by the Fund for Export Development in Africa (FEDA) into Liquid Intelligent Technologies (Liquid), a panAfrican telecommunications technology group. This is the first investment made by FEDA, a development impact-oriented subsidiary of Afreximbank, which provides equity and quasi-equity funding to companies developing trade and value-added export of goods and services in Africa. The investment enables FEDA to become a stakeholder in Africa’s fast-growing technology infrastructure landscape, in which Liquid is a leading player. With fiber optic network currently stretching over 100,000 km across Sub-Saharan Africa,

the year.” The session closed with reflections around the need for sustainability of Data Centres as more organizations focus on becoming carbon neutral. MainOne demonstrated leadership in this area. According to Opeke, “Power remains a challenge in this part of the world and we realised that while there is power available in the grid

all across Africa, distribution is one of the key challenges. Our strategy has been deploying facilities with direct, privately enabled, access to grid power or independent power plants. This strategy has delivered 94 per cent grid power availability to the Lekki Data Centre where we are already exploring replacing diesel with gas and renewable sources for our residual power needs.”

L-R: Representative of Chief of Defence Staﬀ, Major General Adeyemi Yekini; High Commissioner of the People’s Republic of Bangladesh to Nigeria, Masudur Rahman; President, Lagos Chamber of Commerce and Industry (LCCI), Mrs. Toki Mabogunje; Chairman of the Occasion, Prince Julius AdelusiAdeluyi, Director General, LCCI, Dr. Chinyere Almona; Representative of the Chief of Air Staﬀ, Air Vice Marshal Charles Ohwo; and Commissioner of Police, PHOTO: ETOP UKUTT Lagos State, Hakeem Odumosu, during 2021 LCCI Security Meets Business dialogue held in Lagos… recently

ICT Stakeholders to Make Projections at ICT Impact CEO Forum Nosa Alekhuogie

The CEO of MainOne reviewed the company’s role in closing the gap in the region’s Data Centre capacity, stating, “in Ghana, we recently launched a Tier III Data Center in Appolonia City, and in Nigeria, we are expanding our Lekki Data Center facility in Lagos which is near capacity with a new build. We will also break ground on our expansion in the VITIB Free trade zone in Abidjan before the end of

one of the world’s fastest growing data market regions, Liquid has direct access to international submarine cable infrastructure as well as significant investment in data centres across the continent. Liquid is the only operator in Sub-Saharan Africa with a multi-country fiber network of such geographic breadth. Liquid’s infrastructure therefore facilitates intra- and extra-African connectivity thereby reducing the cost of communication and trade, in line with the mandate of FEDA and Afreximbank. President of Afreximbank, Professor Benedict Oramah, said: “FEDA’s investment in Liquid Intelligent Technologies is a landmark deal as the fund’s first investment. The transaction is a demonstration of FEDA’s ability to leverage

African Export-Import Bank’s network and invest in opportunities that will drive the structural transformationof trade on the continent. Liquid provides vital digital infrastructure that supports Africa’s connectivity and trade with the rest of the world. This investment will pave the way for more investments by FEDA and commences the process of building an institutional track record of successfully investing and delivering development impact on the continent.” The mission of FEDA is to provide equity capital with a focus on delivering development impact in diverse sectors in Africa, which are critical to driving intra-African trade and value-added export development, while providing a financial return to investors.

T H I S D AY ˾ THURSDAY, SEPTEMBER 9, 2021

BUSINESSWORLD

INTERVIEW

Ige: FG Must Address Distortions in Gas Market The Chief Executive Officer of GasInvest Limited, a consultancy services provider for local and international investors in the gas business, Dr. David Ige, in this interview, dissects the Petroleum Industry Act (PIA), particularly as it relates to its implications for the gas market, among other key issues. Peter Uzoho presents the excerpts. this was intended to just jumpstart the market. We didn’t intend the market to be run by compulsion, where the majority of the flow in the market is based on domestic supply obligations. Because in a market that you are compelling supply and you are also compelling price, that market is essentially not going to grow, it’s not going to be liquid market. So, we did that as a beginning in the gas master plan and of course, at that time, the gas sector was zero. It almost didn’t exist. So, we needed to sort of find a way to squeeze gas into the market to meet the power requirements and some others. But we needed to get to a point where people invested willingly and they were able to adjust prices to fit into the competitive pressure in the market and so on. We expected that by now, we would be achieving that, but this law does not pay sufficient attention to that. It emphasises regulated regime more than show the pathway towards a liberalised market, and I think, that may in itself, impact the kinds of investors that we will attract.

Recently, President Muhammadu Buhari signed the Petroleum Industry Bill (PIB) into an Act. What is your take on this development? t is indeed a positive development. Like any other Nigerian, I am excited about the enactment. Though it took so long, I think it’s better late than never. The PIA brings some clarity and definition into the Nigerian oil and gas sector investment environment. So, for that purpose, I think it’s actually a great achievement. Investors want clarity. It allows them quantify their risks and plan mitigations for profit. A not too attractive framework is better than none. The absence of a clear legal framework has led to a slow growth of investment in the industry over the years. Hopefully, this will begin to lead us towards a more certain investment environment and time will tell whether it is good enough to attract the kind of investment we desire or not.

In more speciﬁc terms, what are the prospects of the oil and gas industry in Nigeria with the PIA coming in place, particularly as it concerns the gas sector? Prior to today, there was no legal framework for gas. What we had was a cocktail of fiscal bills or statutes over the years targeted at specific fiscal gaps or interventions. Collectively, they didn’t add up to a comprehensive legal framework to stimulate or sustain a vibrant gas market or gas environment. So, now, at least the first step is crossed. We have a dedicated legal framework that is focused on gas. There are a few highlights arising from this enactment for gas. Number one for me is that it introduces a regulator for the midstream/downstream segment which largely covers the gas market. Because of the nature of the gas market, it is almost impossible for you to get investment in gas without a clear regulatory framework. So, we didn’t have that before. We had an upstream regulator in DPR but that was not effective in regulating a gas market. The absence of a regulator is like a football match without a referee. There are no rules and that is dangerous for investments, particularly in a sector which is infrastructure and capital intensive. So, with the introduction of a regulator now, that clearly addresses that point. Secondly, with a dedicated fiscal term on gas which aims to stimulate supply, that hopefully, as well, should be able to entice some investors to come into the market. There is a global energy transition in place and rapidly so too. There is need for Nigeria to rapidly develop and monetise as much of its gas as possible over the next 20-30 years when fossil fuels will see a gradual phasing out. If you consider that many countries in the world with huge gas deposits are as equally concerned about the long term prospect of their gas, then you can imagine that there will be competition for commercialisation of gas everywhere. The gas-focused fiscals hopefully positions Nigeria gas competitively. Thirdly, when you look at the things around the midstream sector, we didn’t have a midstream gas sector clearly defined before. In the gas master plan, we attempted to do that in a backdoor way, trying to set up central processing facility to be owned by investors independent of upstream producers. What this law does now is that it clearly delineates the market into an upstream, midstream and downstream market. What that means is that investors can come to play specifically in the midstream. You know, the midstream is a very crucial segment of stimulating the gas market because it’s in the midstream that you have the pipelines, the processing plants, the liquefaction plants, the compression plants and so on, and those are the engine rooms for a gas market. So, now, it has clearly recognised and created all sorts of licence regimes for the midstream. Again, that’s a good thing. It also talks about the structure of energy security in terms of the domestic supply obligations and so on. So, when you bring all of these together, it moves us a bit forward on the gas side. Now, there are one or two areas I would have hoped that we did a bit better. For example, the most critical area for me relates to gas pricing and the move towards liberalisation of the market. We are running a race right now with the world. There is a migration away from crude oil and there is the time-bound evolution from gas to renewables even though gas is going to be there for a while. But for the amount of gas that we have in this country, we really have to do a lot to stimulate both

Ige supply and demand of gas so that we can utilise our gas, and that includes both the domestic market and the international market and all sorts of supply, basically. In order to do that, when you have a very diversified portfolio of supplies as we have in the Niger Delta, where we’ve got very rich gas and in some cases, very lean gas, in some cases, smaller reservoirs, in others, the associated gas and non-associated gas and all sorts of stuff, operating in a regulated price environment always runs out of steam very quickly, because you will never be able to find a regulated pricing regime that is robust enough. The best thing is to allow the market to liberalise, such that the market drives the price basically. You know, in the master plan, when we started it, we started with a regulated pricing regime because the market was very young and we wanted to stimulate the market. But the vision was always that at a particular point, we would very rapidly migrate into a liberalised market. I think the PIA in its current form inadvertently reinforced regulated gas market more than move us away from it and I feel that is probably one of the areas that need a bit of attention because there is a lot of prescriptive pricing framing in that law. And if you want to do that, you tie the hands of the market. The law doesn’t put a lot of emphasis on how to move the market away from the regulated pricing regime we are in, into a fully liberalised market. Investors in gas will typically be looking for a liberalised market or signals to a liberalised market. I think there seems to be more signals towards a regulated gas market than a liberalised gas market in this Act, and I think, for me, that’s probably one of the weaker areas of the Act. It prescribes price caps, base pricing etc. Something has to be done in managing that, otherwise the investment that we desire will not be able to come. The kind of actors that you need in the market, whether they are gas traders and all sorts of fringe suppliers and different kinds of people who want to come and take different risk positions, want to get premium for taking those risks positions in allowing the market to move. But when the market is too regulated, there is no room for those kinds of people. The law recognises the need to move to liberalisation but I just think that it does not do a very good job

in making that a key focus of accelerating that move and very clearly specifies steps that can make that happen quickly and de-emphasise the regulated market. The thing with a regulated market or regulated pricing is that it doesn’t matter how you do it, it becomes obsolete very quickly. We are seeing that in petroleum products and so on. There are always so many variables that will continue to challenge it. So, what was a regulated pricing yesterday that was adequate becomes inadequate tomorrow. But if you allow the market to drive itself, then it begins to regulate itself and modulate as appropriate and everybody adjusts appropriately to that. So, I think that part of the law needs some attention as we go into implementation. But hopefully, we are in a situation where we have something for gas which we didn’t have before. Over the years, sector players and the government have been involved in the argument over whether to allow a willing-buyer-willingseller gas regime in the Nigerian market. What is really the issue? In think in gas, as we speak today, the market is comprised of both regulated and willing buyer, willing seller elements. So, already, we have started the willing seller, willing buyer in the market. So, what I would have expected would have been to consolidate that space and accelerate the move. Because if you look at the western network all the way from Oben on the Escravos-Lagos Pipeline, which is the biggest network in the country, that market is sufficiently liquid now for there to be willing buyer, willing seller transactions routinely. I know some who have willing buyer, willing seller arrangements with their suppliers. So, it’s there already. What the Act should have done is to consolidate that regime and put very specific steps in specific timelines to now make it even more global. And I think, government is sort of shying away from doing that and it dwells a lot on the regulated regime. I played a key role in the past in building the current regulated pricing regime that we are using in the market when we were doing the gas Master llan –all those strategic sector –power, industry and agriculture. Those were the things we did in the master plan. But when we did it, we recognised that

With the scrapping of some agencies under the ministry of petroleum, what do you think will be the fate of the chief executive ofﬁcers and employees of these abolished agencies? I think that is what the PIA implementation committee will look at. Clearly, those agencies collapsed into two –Authority and Commission. That’s number one. However, the number of the former agencies’ CEOs will be reduced to two. The bottom line is that there is going to be two CEOs, whether they are going to be from the existing people or new people, I don’t know. The structure of the two agencies will determine how many people they need and how to transition people from where they are to the new place. Bear in mind, the skills-set that are required is what is important. The biggest mistake we will make is to have regulators that are not competent for their roles. So, the most important consideration in this game must be the competence of the regulator and the regulatory agencies. That means that the choice of the people and their skills will be very crucial. It’s either from the existing pool of people that you find those who have the skills or there is an accelerated training of the people that are there to develop the right skills or you bring people with skills from outside or a mix of all these. But whichever way we go, this must not stop at just moving people around. It must be a case of making the right skills-set to have a very competent regulator in place. A bad regulator will be worse than no regulator and will set us back many more years. Remember, time is against us now and no room for experimentation. Only the best will be good enough. Given the controversy over the percentages for host communities and frontier explorations, what is your advice to the implementation committee in ensuring hitch-free implementation of the Act? The implementation committee will need to first of all identify things that are urgent and highly impactful to the workings of the sector and the economy –the things that require urgent attention so that the economy doesn’t drop. So, they need to identify those ones and keep them as priority. They need to identify the things that are contentious, controversial, that require to be addressed. Then they need to identify the things that have some long term strategic impact for the country, like energy transition and the likes. If they do not approach the issues based on impact, if they just put everything together and try to implement a 200-page document page after page, without looking at impacts, they would be lost in details and many months after now, we would probably be in a worse situation. So, if I’m to advise the group, I would tell them to distill the Act into four buckets like I just described –the ones that are absolutely critical and to the short term running of the country from the oil and gas perspective and quickly get those ones done. The things that have to do with human resources –people movement, people counselling, people transitioning, people training and others. The things that are controversial and require some rethink should be in another group. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

THURSDAY, SEPTEMBER 9, ͰͮͰͯ ˾ T H I S D AY

BUSINESSWORLD

NEWS

Samsung Heavy Industries Receives Award of Merit from TETFund Peter Uzoho In recognition of its continuous compliance with the Nigerian tax laws and its regular payment of the two per cent Education Trust Fund, Samsung Heavy Industries Nigeria (SHIN) Limited has received ‘Award of Merit’ from the Tertiary Education Trust Fund (TETFund). The award was given to SHIN at the Third Edition of the TETFund’s Taxpayers’ Forum held in Abuja on August 12th. SHIN has dutifully paid two per cent of its yearly assessable net profit as Education Tax to TETFund, which is the Nigerian government’s agency charged with the responsibility for imposing, managing and disbursing the tax to public tertiary institutions in Nigeria. The Taxpayers’ Forum was meant to intimate the contributors to the fund on the activities of the TETFund, ahead of the celebration of its 10-year anniversary and to recognise the organisation’s most important and deserving contributors. The event was also meant to foster accountability by showcasing the uses of the Education Tax to the contributors as well as the general public. Commenting on the award, SHIN said in a statement that it was highly excited to align itself with development of tertiary education and Nigeria at large. “SHIN, being an outstanding corporate citizen, is honoured to receive this recognistion in carrying out its statutory duty as no country has achieved greatness without developing its human capacity. “This serves as a confirmation of SHIN’s contributions to the development of Nigeria and its people,” the statement explained. The main source of income available to TETFund is the two per cent education tax paid from the assessable profit of companies registered in Nigeria. The Federal Inland Revenue Services (FIRS) assesses and collects the tax on behalf of the TETFund. The funds are disbursed

for the general improvement of education in federal and state tertiary educations specifically for the provision or maintenance of: Essential physical infrastructure for teaching and learning; institutional material and equipment; research and publications; and academic staff training and development. The funds can also be used for any other need which, in the opinion of the Board of Trustees (BoT), is critical and essential for the improvement and maintenance of standards in the higher educational institutions The TETFund award was not the first award received by SHIN in Nigeria as the company had in February 2020 received ‘Award for Technological Breakthrough” at the Nigeria International Petroleum Summit (NIPS) in Abuja SHIN was honoured with the award for technological breakthrough for the innovations introduced during the construction of the Egina Floating Production Storage Offloading (FPSO) unit, the world’s largest FPSO, which was built for the Egina oil field, the deepest offshore oil and gas field in Nigeria. Earlier in April, 2019, SHIN was also recognised by the Nigerian Oil and Gas Opportunity Fair (NOGOF) with the first place winner for the most impactful contribution to local content development since 2017 to date. The award was presented to the company at the NOGOF 2019 awards ceremony held in Yenagoa, Bayelsa State. Outside the shores of Nigeria, SHIN had in September 2019, won a highly commended award for its contribution to the development of regional maritime Cluster at the prestigious Sea trade Maritime Awards Middle East, Indian Subcontinent & Africa held in Dubai. Notably, SHIN had also won ‘Breakthrough Deal of the Year 2018’ and ‘African Project of the Year 2019’ in Africa Assembly award, organized by the Oil and Gas Council in Paris for the Egina FPSO unit built for Nigeri’s Egina oil field.

Glo Unique Tariff Plan Continues to Excite Customers Nosa Alekhuogie Globacom’s unique tariff plan, called ‘Berekete’, which was launched by last year, has continued to garner rave reviews as subscribers who are enjoying the exciting product reel out positive testimonials, according to the telecoms company. With Glo Berekete, every new customer gets a welcome bonus of N600 upon successful activation of his or her line. Globacom in a statement, said: “The successful activation includes registering the SIM, recharging with a minimum of N100 and making a first call. N400 out of the bonus credit is for calls to any network, while the balance of N200 will be converted to 200MB of data.” Other benefits of the package include a massive 700 per cent bonus on every recharge to call all networks and to browse the Internet. Subscribers could receive up to N20,000 voice bonus and 5GB data bonus from a single recharge depending on the recharge denomination. In addition to these mouth-

watering benefits, new customers also enjoy up to 100 per cent extra data volumes on all data plan purchases between N50 and N10,000. The offer is applicable for the first four months of joining the network. New customers usually get on the ‘Berekete’ tariff plan by default, while existing prepaid customers can subscribe by dialling *777# after which they too can enjoy 700 percent bonus on all recharges; though they will not be entitled to the one-off welcome bonus as well as the bonus on data plan purchases. Customers who have been enjoying the product, commended the product, saying it is one of the best from the stable of Globacom. Asabi Morenikeji who is a trader at Idumota in Lagos said, “since I bought my latest sim which came with Glo Berekete, I have been enjoying huge airtime and data bonuses. Having known this, I have made it a habit to recharge regularly. I use the bonus for calls to my children who study in other parts of Nigeria”.

The company had again, in April 2021 written Nigeria’s name in the global business and technology map with its recognition with award of ‘Excellence in Floating Production Storage Offloading (FPSO) Services’ under the utility/energy category of the 2021 Global Business Outlook (GBO) Awards. The London-based publication recognises innovations, achievements, and strategies within the global business community, covering sectors on banking, finance, insurance, brokerage, technology, and leadership, among others. The award, which was

designed to facilitate the outstanding work of businesses and business leaders across industries, seeks to recognise and reward excellence in businesses around the world. SHIN was the only institution from Nigeria, which won in the 2021 GBO Awards. Apart from meeting its legal and contractual obligations to the Nigerian government, SHIN has also maintained a track record of consistently giving back to Nigerians over the years as part of its Corporate Social Responsibility (CSR). For instance, the company had secured 5,000 COVID-19 test kids from the South Korea

Government to help the Nigerian government tackle and mitigate the impact of the COVID-19 pandemic that ravaged the world. The shipbuilding giant had also made generous donations to four states in the country to boost the fight against the pandemic. SHIN had made donations of 496 bags of rice and 12,000 reusable facemasks to Lagos, Bayelsa, Kano and Plateau states. SHIN has also been sponsoring the eye surgeries of Nigerians on a yearly basis. Since 2015, SHIN has worked with Vision Care, an organisation under WHO, in the yearly Eye Camp to give free cataract surgeries to Nigerians who cannot

afford the treatment. In 2019, it sponsored the eye surgeries of at least 115 Nigerian patients and 224 outward patients as part of its CSR in Nigeria. In the previous Eye surgeries in 2018, 102 patients, who were at the risk of blindness, recovered their eyesight. Since it started the programme, SHIN has sponsored the eye surgeries of 572 Nigerian patients, 1,593 outward patients and has also donated glasses to 99 patients. The company had also donated electrical equipment, clothing and other relief materials to the victims of herdsmen and Boko Haram insurgents’ attacks in Jos, Plateau State.

FOR BETTER HEALTHCARE…

L-R: Divisional Head, Health and Education Sectors, Sterling Bank, Obinna Ukachukwu; Group Head, Health Finance, both of Sterling Bank Plc Sterling Bank, Mrs. Ibironke Akinmade, both of Sterling Bank Plc with Secretary to the Federation, Boss Mustapha during Sterling Health Finance + Association of Health Commissioners session in Abuja… recently

Creative Agencies Tasked on Local Content, National Positioning Raheem Akingbolu The much talked about image crisis bedeviling Nigeria can only be managed positively when practitioners in the creative industry assume the position of chief marketing officers for Nigeria and her government, Lagos Governor, Babajide Sanwo-Olu, has stated. The Governor, who spoke at the 2021 Marketing Edge Brands and Advertising Awards of Excellence held recently, urged the practitioners to help tell the Lagos story, vis a vis Nigeria story for the world to see the beauty of the Africa’s giant and her commercial nerve centre. He pointed out that the winning campaigns at the annual Cannes

Festival, are not the ones who tell the stories of the commercial brands, rather the ones that tell stories of people, places, and the triumph of the human will and spirit above adversity. The governor, who also urged players in the marketing communications industry to look inward by embracing local content, assured practitioners of government’s commitment to strengthening the industry. He said, “Let me remind you that every year, at the annual Cannes Festival, the winning campaigns are not the ones who tell the stories of the commercial brands. Rather the winners are the ones who tell stories of people, places, and the triumph of the human will and spirit above

adversity. “I am not unaware that there was a time many of you needed to fly to Cape Town, Durban and Johannesburg before you could shoot a good TV commercial for your clients. Today, the story has changed. Let me assure you, it can only get better from here. The infrastructure we are creating are gradually giving you the scenic settings you require for great television commercials that can earn more prestigious laurels from across the world.” Sanwo-Olu who was named the “Outstanding Political Brand Icon of the Year” at the event, described himself as the Chief Marketing Officer of Lagos State while giving a resounding

keynote address, expressed special gratitude to the veterans of the marketing profession whom he acknowledged have toiled to build and give relevance to reputable trade. “Today is for celebrating ourselves, our craft and achievements as marketing communications professionals. Over the last 5 decades, the marketing communications profession has evolved remarkably to become a window for the world to see the creativity that resides within us. “Our readiness to support marketing-related initiatives is not limited to the Advertising sub-sector of the industry. It is open to various specialist areas that make up marketing.

Report:Telecoms Remains Resilient Amid Regulatory Challenges, COVID-19 Pandemic Emma Okonji A recent report released by Agusto and Co, has placed the telecommunications sector as the most resilient sector, despite regulatory challenges and COVID-19 effect in the last two years. The 2021 report provides a comprehensive view of the industry including the impact of the macroeconomic environment and COVID-19 on the industry’s performance.

The report covers recent developments in the regulatory environment and the attendant impact on the competitive landscape. Agusto and Co’s 2021 telecommunications report highlights key risks and challenges of the industry and provides a SWOT analysis, covering Strengths, Weaknesses, Opportunities and Threats (SWOT). In the area of smartphone revolution, report said the use of mobile phones grew exponentially

due to the smart phone revolution, a continuous upgrade of network infrastructure and improving quality of service. It explained that the latest technology – the Fifth Generation (5G), despite launch drawbacks due to the COVID-19 pandemic, became commercially available in about 40 countries so far including Kenya and South Africa. Agusto and Co, in the report, expects that the 5G technology will be commercially available

in Nigeria by mid-2022. It cited the International Telecommunications Union (ITU), which earlier said that global mobile phone subscriptions were expected to grow from 8.2 billion in 2020 to about 10 billion by 2025, driven by increasing affordability of smartphones and accelerating technological adoption in sub-Saharan Africa. The report said growth in the use of mobile phones should also be supported by population growth in the Asia-Pacific continent.

THURSDAY, SEPTEMBER 9, ͰͮͰͯ ˾ T H I S D AY

BUSINESSWORLD

NEWS

‘Local Supply Still Low in the Poultry Sub-sector of the Economy’ Raheem Akingbolu General Manager Sales & Marketing, Pandagric Novum Limited, one of the leading manufacturers of animal feeds, Tunji Osoko, has expressed concern over the disparity ratio between the demand and supply of poultry in Nigeria ,which he said was inimical for the growth of the economy. Osoko who pointed out that poultry sub-sector is the most commercialised of all Nigeria’s agricultural sub-sectors with a net worth of N1.6 trillion according to CBN, stated that Nigeria has a big population with low per capital consumption of poultry compared to peer countries and that local demand for poultry currently outpace supply. Osoko, who spoke in Abuja at the annual distributors conference of the company and the unveiling of the rebranded Supreme Feeds, stated that, the purpose of the annual forum was to assure distributors of the organisation’s long-term commitment to the

development of the Nigerian economy at a time when many investors are discouraged and unwilling to invest. In his words, “The conference is an avenue to solidify ties with feed distributors, boost the confidence of our customers, and in line with the theme of the event, Win Together!” Speaking at the event, the Chief Executive Officer, Bruce Spain stated that “the conference was all about introducing Pandagric Novum customers to the new horizon, the new adventures, and the new destination of increased growth by putting up a World Class New Feed Mill that will increase control over Feed mill inputs and availability of products”. He reiterated that the company’s mission is, ‘To continuously innovate! Never accept the status quo! To redefine the concept of farming, feeds and foods in Nigeria! To positively impact our employees, suppliers, customers, community and the environment while enhancing

shareholders value!” He went on to add that the conference was about sharing good news and sharing information about the new opportunities for Pandagric Novum and its distributors – “it’s all about Winning Together, ”he said. One of the major distributors at the event, Olayemi Segun of Olaji Farms; commended the efforts

of the management of Pandagric Novum for organizing a first in a class of events to celebrate, inform and reward its distributors. He went on to add that, “the conference has added a new meaning to the sales of Pandagric Supreme Feeds, as it was highly informative. It has shown me that there are better ways to market feeds, as I now have new insights regarding the

sales and marketing of feeds. I am also impressed with the improved process that Pandagric Novum is trying to inject into its system of production by expanding and scaling its production to match demand.” Supreme Feeds was birthed in 2010, with the installation of a large-scale commercial feed mill in Nasarawa State, with a mission to produce and supply

the highest quality animal feed in Nigeria. To support this mission of converting grains and oil seeds to the highest quality animal feed; additional factories for the processing of soybeans and raw maize to high quality maize meal were installed, to enable the company to manage to the greatest extent possible, the quality and consistency of its raw material supply chain.

Redwood Consulting Repositions, Appoints Sawyerr as GM Redwood Consulting has announced Jerry Sawyerr as General Manager, to lead the company’s reintegration and restructuring plans as the company expands its service offerings across its verticals – Public Relations, Marketing Consulting and Research. “Jerry is truly an exceptional find as he brings with him an impressive and well-rounded 20-years’ experience spanning Technology, FMCG, Advocacy, Social Impact, Media Relations & Advertising, reflective of a depth of valuable and diversified experience with consistent achievements in driving innovative strategies that have produced dynamic results, ”aid Hannah Oyebanjo, Managing Director, Redwood Consulting. She added that Jerry’s appointment is a strategic

and deliberate alignment in restructuring Redwood’s business model to expand its service offerings and provide its clients with more bespoke services across the Sales and Marketing ecosystem. Prior to joining Redwood Consulting, Jerry was at Weber Shandwick, STB McCann World group, and has handled campaigns for organizations across Africa, such as UNICEF, Bill & Melinda Gates Foundation, Ericsson, Mastercard amongst others. Speaking, Jerry said the dynamics of communication has thrown up the need for specialized services, as such communication agencies need to be more deliberate and specific. He said, “every agency needs to identify the intersection between its best offerings and the exigent needs of the client”.

AIT Deepens Africa’s Tech Talents, Graduates Eighth Batch of Ph.Ds Nosa Alekhuogie The Accra Institute of Technology (AIT), a technology-focused private university has further helped to increase Africa’s rising number of scholars in technology related fields as the university graduated its eighth batch of Ph. Ds during its recently held 16th Graduation Ceremony at the University’s Knowledge City Campus (KCC), Kokomlemle, Accra. This brings the total number of Ph.Ds graduated at AIT since 2016 to 49 in the fields of Engineering, Business Administration, Education, and Information Technology. According to a statement released by the university, “This achievement marks not only an AIT history but also a history in the annals of private university education in this country. This event also saw the graduation of 219 Bachelor’s and 33 Master’s degree holders from both the campus-based undergraduate programs as well as to the Open University undergraduate and

postgraduate programs. It was also witnessed with the deployment of current technology that facilitated the organization of a virtual graduation experience specifically for majority of the students using the Google Meet platform.” Founded to close the technology research and manpower gaps across the African continent, AIT is ranked at the top as a private university in Ghana by the Ghana Tertiary Awards and still holds since 2018, the coveted Best in TechnologyFocused University - Ghana Award by Global Business Insight of the United Kingdom. The Chairman of AIT Board of Trustees, Professor Edward Ayensu, in his address to the congregation, said: “All indicators point to the fact that AIT as a university with its high-powered and academically distinguished Board of Trustees are meeting several envisaged milestones as a young and growing dynamic institution which is showing all the encouraging signs of becoming a world-class university.”

MARITIME SECURITY PARTNERS…

Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh (right), receiving a plaque from Chief of the Naval Staff, Vice Admiral Awwal Zubairu Gambo, after his paper presentation at the Chief of the Naval Staff Annual Conference (CONSAC) in Kano State… recently

US Mission Welcomes 250 Women into 2021 Academy for Women Entrepreneurs Nosa Alekhuogie The United States Mission has launched the third cohort of the Lagos edition of the Academy for Women Entrepreneurs (AWE), a US government initiative that supports women entrepreneurs around the world. Working with local partner, Ascend Studios Foundation, founded by Inya Lawal, an alumna of the Fortune-US Department of State Global Women’s Mentoring Partnership program, the US Mission is supporting the training of 250 women entrepreneurs selected from a pool of over 15,700 applicants, representing a cross-section of industries, from fashion and textiles to health and agri-business. Speaking during the virtual

programme, US Embassy Chargé d’Affaires Kathleen FitzGibbon, explained that the AWE was designed to empower female entrepreneurs to fulfill their economic potential, creating conditions for increased stability, security, and prosperity for all. She expressed the US government’s continuing commitment to supporting women to break barriers, gain economic and financial independence, and create pathways to prosperity. “When women are economically empowered, they re-invest in their families and communities, strengthening the social fabric of society and education and skill levels of the workforce. This multiplier effect spurs economic growth

and enhances stability,” Chargé FitzGibbon said. A 2019 graduate of the programme, Jumoke Olowookere, shared her success story with the new participants. “The AWE program connected me to the right networks and resources and my dreams grew bigger. Today, as an upcycling entrepreneur, I am the founder of Nigeria’s first waste museum, ”Olowookere explained. Over the next three months, participants will have access to the DreamBuilder platform, a blended business training course developed through a partnership between Arizona State University’s Thunderbird School of Global Management and global copper mining company Freeport-McMoRan. In addition, participants

will connect with networks of business leaders, women entrepreneurs and mentors who will facilitate lessons related to business management such as preparing business plans and raising capital. Beyond learning in the academy, they will continue to be mentored and encouraged to share, learn, and network with AWE alumnae and members of their cohort. To augment the existing slate of projects focused on women and economic empowerment, the Department of State’s Bureau of Educational and Cultural Affairs (ECA) established the AWE programme in 2019. A total of 220 women entrepreneurs participated in the 2019 and 2020 cohorts of the U.S. Consulate Lagos AWE program.

T H I S D AY ˾ THURSDAY, SEPTEMBER 9, 2021

BUSINESSWORLD

NEWS

Expert Harps on Customer Engagement to Drive Profit in Organisations Emma Okonji The Regional Manager, Africa, Zoho Corp, Andrew Bourne, has stressed the need for organisations to focus more on customer engagement in order to further drive quality engagements among millenniums that will enhance profitability in organisations. Bourne described the term ‘customer engagement’, as arguably one of the biggest buzzwords in today’s business landscape. According to him, customer engagement entails actively

engaging with an audience through messaging that interests, educates or helps them, as well as encouraging two-way communication with business. He said it may appear to be a simple and straightforward task, he however said: “In today’s world, where the majority of a business’s customer base is composed of the digital-native ‘millennials and zoomers’, the consumer has little patience for complicated processes in the name of customer engagement. So what does this mean for you as a business, and how can you adapt to this new market reality

and ensure that your engagement techniques are actually engaging.” According to Bourne, mobile phone use has surpassed laptop use, and today’s target audience is more likely to look something up on their phones or tablets than on other device. According to the GSMA’s The Mobile Economy sub-Saharan Africa report, the mobile market in sub-Saharan Africa will reach several significant milestones over the next five years: including half a billion mobile subscribers in 2021, 1 billion mobile connections in 2024, and 50 per cent subscriber penetration by 2025.

“Over the next five years, the number of smartphone connections in sub-Saharan Africa will nearly double to reach 678 million by the end of 2025, representing a 65 per cent adoption rate. It is, therefore, no longer an option to provide a mobile-friendly website or customer support portals - it is now a requirement, “it said. Considering the connected generation, Bourne said being accessible to current and potential customers, remained the most important aspect of customer interaction. This, he added, is particularly challenging in

today’s setting, where time and geography are no longer important and the customer expects businesses to be reachable at all hours of the day and night. “While the advent of chatbots has eliminated the need for businesses to hire additional employees to cover multiple shifts, bringing developers onboard to build bots that can meet multiple requirements can end up being costly too. Instead, try thinking along the lines of using a sales engagement software that provides easy-to-use features like drag-and-drop chatbot builders,” Bourne said.

He explained that although chatbots were invented to free up staff from mundane tasks so they can focus on the more complex ones, he however said research showed that customers find it harder to get issues resolved by AI chatbots, while stressing on customer engagement. “A customer engagement strategy is critical to the success of any business. Customers who are actively engaged not only spend more money, but also become a company’s best brand advocate and recommend the business to their friends, colleagues, and family,” Bourne said.

Rent4Less Raises $1m to Entrench Monthly Rental Culture in Africa Emma Okonji To entrench the culture of monthly rental in Africa, Rent4Less by Alpha Mead has raised a fixed-rate series one $1 million private placement bond. The Senior Secured Private bond, issued by Alpha Mead is another milestone in the series of the company’s expansion strategies to increase access to shelter and perpetuate the culture of monthly rent payment across the continent’s housing and office markets. Rent4Less by Alpha Mead is a rental scheme designed to support individuals and small businesses with flexible, monthly pay-as-youuse rent for homes and offices. According to Managing Director

of Alpha Mead Development Company (AMDC), the subsidiary of Alpha Mead Group that oversees Rent4Less, Damola Akindolire, said: “The funding is coming as a result of an outstanding early growth of the product and the trust that the investment community reposes in Alpha Mead. “Rent4Less has proven over the last 12 months that it is a product that has been designed as a response to the economic challenges that came with the pandemic. Since we are a member of a large Real Estate group, we have the opportunity of drawing insights from the experiences of other businesses within our group. “One of those insights is the

fact that the pandemic reduced the pocket size of most people and businesses and everyone has to reprioritise. So, we thought about how we can demonstrate to the market that our ‘We Care’ brand essence is not just platitude.” Akindolire further said: “Over 80 per cent of our growing population live in rental accommodation and we are happy that we have not just solved a major problem with Rent4Less, we have even proved within a very short time, that we can accelerate growth and replicate this success across Africa, and we thank CardinalStone Partners Group for getting on this journey with us.” Speaking about the impact of

Rent4Less on developers and investors in building development, Akindolire noted that as a company with a deep interest in Real Estate development, AMDC was also conscious that the product must also be beneficial to landlords and Real Estate investors. According to him, “Under our Guaranteed Rental Income Programme (GRIP), Rent4Less will also ensure that landlords enjoy early and consistent economic benefit on their assets, increase occupancy levels, and also leverage its group’s expertise in facilities management to ensure that landlords’ assets remain in valuable condition.” Head, Marketing and Corporate

Communication, Alpha Mead Group, Olusesan Ogunyooye, explained that the company’s goal was to demonstrate that monthly rent is also possible in Africa; and safe, secure and comfortable homes or offices should not be the exclusive preserve of those who have huge funds to either buy or pay annual rent for their homes or offices. According to him: “As basic as shelter should be, and despite its immense impact on our social architecture, not everyone in Nigeria, and indeed, a significant part of Africa, can afford a safe, comfortable and secure accommodation. This is not because developers have stopped building.

In fact, a drive around some of our cities will reveal an interesting paradox of scarcity amidst plenty, with low occupancy rates on the one side and unmet demands for housing and offices on the other.” Speaking on the product offerings, Business Manager, Rent4Less, Nelson Nlemuzor, said: “Our product is not just about the rent payment cycle; it is also about space utilization. We all know that real estate is a location-driven investment asset class, and that makes it difficult for an average income earner to stay in prime locations close to Central Business Districts (CBDs), primarily because of the rent structure in these locations.”

T H I S D AY ˾ , SEPTEMBER 9, 2021

HEALTH & LIFESTYLE

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ Chiemelie Ezeobi ×ËÓÖ chiemelie.ezeobi@thisdaylive.com, Tel: 07010510430

COVID-19 Vaccine Apathy: Need to Ramp up Awareness Becky Uba Umenyili reports that given the apathy towards the ongoing COVID-19 vaccination by Nigerians, there is urgent need to ramp up additional dissemination of information, using various channels to properly educate the masses on the consequences of the pandemic, as a way of countering the propaganda from social media

n the wake of the fears of rising mortality through the spread of the corona virus in recent times, Nigerians seem to express lackadaisical attitude in the vaccinations programme that commenced in February this year with the delivery of 4,024,000 doses of Oxford/AstraZeneca vaccine received by the Federal Government of Nigeria in March 2021, (3.924 million came through the COVAX facility and another 100,000 doses from the Government of India). This implied disinterest has gradually metamorphosed into anxiety following some canard story which alleges that for most of those vaccinated, the vaccine has electromagnetic properties which makes the upper arm part the hand where the vaccination was administered to magnet metallic objects, even mobile phone handsets. A claim that is yet to be proven. The first batch of the AstraZeneca vaccines from Serum Institute of India (SII) under the COVAX scheme of the GAVI, invented to curb further spread of the pandemic was distributed nationwide earlier in the year and the vaccination programme commenced in earnest across the nation. Reports from the National Primary Health Care Development Agency (NPHCDA), reveal that recently, a total of 3.4 million doses of the Oxford AstraZeneca COVID-19 vaccine have so far been utilised for the first and second rounds, making it approximately 88 per cent of the total COVID-19 vaccine stock in the country. However, it has been observed that most Nigerians have not made themselves available to partake in the shot as compared to the haste to observe the preventive measures introduced to curtail the pandemic in the previous year. This is despite the clarion call by the Secretary to the Federal Government who is also the Chairman, Presidential Task Force (PTF) on COVID-19, Boss Mustapha, for Nigerians to participate in the vaccination programme. Notably, on the delivery of the vaccines to the federal government, Mustapha said it would be deployed for administrative purposes across the nation in four phases and that the vaccination exercise would commence with frontline health workers who are more vulnerable to infection. He further assured Nigerians of the efficacy of the vaccines, having also been certified by the National Agency for Food and Drug Administration and Control (NAFDAC), thereby allaying possible fears of the genuineness of the vaccines as well as debunked undue allegations to discredit the effectiveness of the drug; urging everyone to have confidence in the government sponsored vaccination programme. Meanwhile, the Executive Director and Chief Executive Officer (CEO) of the National Primary Health Care Development Agency, (NPHCDA) Dr. Faisal Shuaib said that the agency would ensure the vaccines would be distributed to all eligible Nigerians with a projection that every Nigerian from 18 years upward should be vaccinated within two years. However, events in recent times have raised sceptical fears in the minds of both those who have been vaccinated and prospective ones. On the allegations of the magnetic power of the vaccines, Dr. Faisal emphatically says that “the COVID-19 vaccines do not contain electromagnetic ingredients that can cause harmful side effects. “There are no ingredients in the AstraZeneca vaccines or any other COVID-19 vaccines that make people exhibit magnetic properties after being vaccinated for COVID-19. Scientifically, the claim does not make sense”. The information has gone viral on social media and the fears are very indelible in the minds of people, which can undoubtedly affect the willingness of prospective ones who are yet to be vaccinated to undergo the exercise. THISDAY spoke to some persons who have been vaccinated as well as sought the opinion of some medical practitioners on the vaccination programme. Ms Emily Mgbako, a business woman lamented on the reactions on her body following the vaccination after one dose and refused to take the complete dose. Although she did not experience the electromagnetic pull, she expressed fear about the side effects of the vaccine, while nursing doubts about the genuineness of the drug. “ I can’t say for sure but I know that I will

Minister of Health, Dr. Osagie Ehanire not take another one and most people at the centre I took also complained of grave side effects. No, I depend on God and preventive measures, the reaction was too much for my body”. Recently, government reiterated its assurance on the genuineness of the vaccine and said that the reported cases of mild, moderate and severe reactions since roll out of the COVID-19 vaccination in March this year is naturally expected as is the case with most other vaccines. “With over three million people vaccinated, Nigeria has not recorded any death case directly linked with Adverse Event Following Immunisation (AEFI). 125 severe AEFI cases were reported while 13,663 mild to moderate cases have been recorded.” A Lagos based medical Practitioner, Dr. Nonye Nwankwo expresses concern more on the quantity of vaccines brought into the country as compared to the population of Nigerians. She opines “that from statistics from about 4 million vaccines available to 200 million Nigerians, we are yet to exhaust the vaccines, (no thanks to same lackadaisical attitude and fears). From the same stock people have received both 1st and 2nd doses. “ This implies that just about 2million out of 200million have been vaccinated. The absence of queues at the vaccination centres shows it is not priority for most people. Most people who have taken the vaccines have done so for international travel, occupational exposure risks for frontline staffs and/or cooperate organization policy demands to be able to keep their jobs. Very few people have taken it based on voluntary awareness for personal safety.” This issue of personal safety becomes a priority when viewed from the perspective of peoples’ ignorance about the various phases of waves of the pandemic in recent times. The fact of no alarming rate of death seem to make most people relax, even with preventive measures. It is a common thing now that the strict protocols introduced to curb the spread have not been observed in recent times and no penalties apply. One wonders however,

CEO of MPHCDA, Dr. Faisal Shuaib if one needs to be penalised for basic safety issue before observing such duly. Mrs. Ebere Immaculata Adams, a school administrator concurs to this as she notes “COVID-19 still exists though people no longer care or take the new wave seriously as they did when it first hit all nations early last year. No more panic, wearing face masks, even if they do, they just keep them in their pockets, purses or hang them on their chins. Noticeably, prices of nose masks which were sold exorbitantly at the hike of the pandemic have dropped drastically too. “Social distancing has become a thing of the past, even in general hospitals patients or people queue and sit very close to one another. Many people now find it difficult to wash their hands regularly and when they do, they don’t make use of soaps. Hand sanitizers are no longer carried in purses or pockets by most people. “Socially, some people have this notion that the government is telling lies about corona; they believe it’s no longer in the air and that government officials just want to make some money out of the pandemic or should I say endemic. “Fear of infection has dissipated. Rather, many Nigerians are scared of being vaccinated because of the first impression they have about it accruing from effects of social media videos. Yet it is noteworthy to mention that even the few who are willing to take the vaccines do not have easy access to the accredited hospitals, meaning that the program is not extensively managed”. Doubts about the reality of the existence of the virus does not negate the fact of its presence. As such the government has assuredly maintained its position to allay peoples’ fears. Dr. Faisal thus says “these vaccines are safe, effective and efficacious. It will do one no harm. Nobody is intending to kill anybody. This is for the good and wellbeing of Nigerians.” This calls for additional dissemination of information, using various channels to properly educate the masses on the consequences of the COVID-19 pandemic, a way of countering the propaganda effect of misleading information

Vaccines are a critical additional tool in the battle against COVID-19 – until the country achieves high coverage of the vaccination, Nigerians must continue to adhere to the public health and social measures outlined by government to suppress transmission of the virus

from social media even as it has become very important for the national censor board in collaboration with the various mobile phone operators and service providers and respective government commissions to look into the vetting of information cabbaged out to the public. Thus, Mr. Charles Inyomi Ekunke, a Pharmacist said “better education on the menace this virus can cause and sincerity of the stakeholders, is a key issue here. Government has not been sincere because most feedback I get is that when people have malaria they will be registered as COVID-19 patients. “From my personal observation and survey through customer interaction, a lot of people are sceptical about the vaccination for the simple reason that the world powers are imposing it in the developing countries. “They opined that for example malaria parasite has been killing a lot of Africans and a potent vaccine to help out the mortality rate in this counties has not been developed.” While so much measures to encourage massive participation in the vaccination programme pends, it is imperative to note that more percentage of the population are exposed to the risk of infection and this is mostly people of the lower economic class while those of higher echelon seem to still observe preventive protocols. It should be recalled that other epidemics in the past had similar experience from the populace – initial suspicion and fears, allegations and counter-allegations, rumours and anxieties built up to discourage active participation but subsequent scientific proves emerged to convince the masses otherwise, which made such preventive programmes successful. For instance, history records that poliomyelitis, an infectious, virus-induced illness that could lead to paralysis, disability and even death ravaged the human masses in the early twentieth century. The hesitancy to accept the vaccine was combated by combined ardours efforts of various governments, multi-nationals and good-willed bodies who developed various educative schemes, using soft social approaches like dramas, dance shows and other constant publicity to enlighten the masses in order to encourage them to receive a jab of the polio vaccine. As at today, the initial fears of the same vaccine no longer exist and despite side-effects it may have on people, it still treats patients. A similar feat may be considered to campaign for unbiased participation in the present COVID-19 vaccination programme. Thus, the WHO Representative in Nigeria Dr Walter Kazadi Mulombo recently stated that “vaccines are a critical additional tool in the battle against COVID-19 – until the country achieves high coverage of the vaccination, Nigerians must continue to adhere to the public health and social measures outlined by government to suppress transmission of the virus.”

T H I S D AY ˾ , SEPTEMBER 9, 2021

NEWS

FERTILITY Verve Heralds Fourth Edition of Nigeria’s Biggest Fitness Event DANGER SIGNS IN with Multi-city Fitness Train PREGNANCY (PART 2 )

Precious Ugwuzor Interswitch Group, promoters of UIF 7FSWF 1BZNFOUT #SBOE IBT announced the 4th edition of the ‘Verve Life’, which has come to be regarded as Nigeria’s biggest fitness and wellness lifestyle activation, incorporating the key pillars of fitness, fun and healthy food, taking place on Saturday, November 6, 2021 at The Landmark Centre in Lagos. Ahead of the Grand Finale in Lagos however, fitness enthusiasts across five major cities in Nigeria including Asaba, Port Harcourt, Lagos, Ibadan and Abuja will be treated to high impact and invigorating activities lined up ahead of the grand finale Verve Life 4.0 fitness event. To kick off this year’s edition of the Verve Life event, there will be a series of satellite events at designated facilities across selected cities in Nigeria including; Asaba, Port Harcourt, Lagos, Ibadan and Abuja in activations themed ‘The Verve Life Is Coming to Your City!’. These satellite events will generally run through the months of September and October 2021 to culminate in the much-anticipated Lagos Grand Finale on November 6 at The Landmark Centre. Away from the previous editions which were only held in Lagos, this year’s edition begins with satellite events across the country, to create space for more Verve cardholders and Nigerians who are passionate about their fitness and wellness to commune in their shared passion.

Cherry Eromosele, Group Chief Marketing and Communications Officer, Interswitch Group asserted that Verve, as the leading homegrown payments card and digital token brand in Africa remains committed to improving the lives of Nigerians, and the Verve Life series of events prove to be viable avenues through which the brand makes good on that commitment. She added that “This year’s event is themed ‘Fit to Live’ which encapsulates our reality of the past year. To live and thrive in the true sense of things, we all must attain some level of fitness and that is what the Verve brand presents with the Vervelife 4.0 and its activities. This year’s Vervelife event like the others, remains true to its goal: to give fun and enlivening experiences to all those who participate.” She urged participants to attend the event with their Verve cards as the card make them eligible for exciting activations and incentives such as unique challenges and raffle draws which offer chances to win exciting prizes and rewards. She pointed out that though the pandemic disrupted last year’s event, the firm has put all measures in place to make this year’s edition a success and enjoyable in line with all COVID-19 safety protocols. “The disruptions to the event last year have given us ample time to be better prepared for this year’s edition which inevitably will be bigger and more rewarding. This also throws up the opportunity to bring in more Nigerians from

across different regions of the country and give them the chance to experience the essence of the ‘Good Life’ philosophy, which is what the Verve Life lifestyle event essentially represents.”, she further stated. The Verve Life event is an annual fitness and lifestyle event anchored by Verve card, Africa’s leading payment technology and card business, thus, providing its cardholders and Nigerians more than payment solutions. The firm through the Verve Life platform avails Nigerians the opportunity to enrich their lifestyle with information on fitness, health tips, life hacks, beauty, fashion etc. The Verve Life event is open to all fitness and wellness enthusiasts. This year, the event is expanded to include cardholders and Nigerians from across the country into a supportive community where they are free to commune and share their passion for fitness and wellness. Verve, Interswitch Group’s innovative payment cards and digital tokens scheme, offering products and solutions that enable consumers to transact across Africa and international markets, is proudly a pan-African payment scheme that provide EMV cards, cardless products and solutions to financial institutions, individuals, private organisations and government institutions across Africa. Verve cards are accepted in 185 countries including 22 African countries, China, United Kingdom, United States and UAE.

NBA Registers 1,000 Lawyers on GIFSHIP Health Insurance Platform Onyebuchi Ezigbo ÓØ ÌßÔË The managements of the National Health Insurance Scheme (NHIS) BOE /JHFSJBO #BS "TTPDJBUJPO IBWF formalised an agreement to enroll 1000 members under the group health insurance policy known as GIFSHIP, which means the Group, Individual and Family Social Health Insurance Programme. GIFSHIP is health insurance that is taken up and paid for by groups, individuals and families not covered by other NHIS coverage platforms. Eligibility and membership include, small scale enterprises with less than 10 staff, non cohesive groups of persons, such as associations, unions and institutions outside the Organised Private Sector (OPS), self-employed individuals, families and groups, retirees and retiree associations and Diaspora groups, as well as foreigners living in Nigeria. As part of the initial engage-

NFOU XJUI /)*4 UIF /#" presented a cheque of N15 million to the Executive Secretary of the NHIS, Prof. Mohammed Sambo at the headquarters of the scheme in Abuja on Thursday to formally register 1000 members on the health insurance scheme. Speaking during the signing of the MoU, the President of /#" 0MVNJEF "LQBUB TBJE UIF association is expecting to access quality health for lawyers through the NHIS GIFSHIP platform. “ This is very important for us BU UIF /#" UP CF BCMF UP BDDFTT quality healthcare and we see the NHIS as one channel to achieve this. So we have started with 1000 of our members. It is just the beginning, we have over 100,000 members across the country,” he said. "LQBUB TBJE UIBU /#" JT delighted with the partnership arrangement with the NHIS , adding that the MoU will ensure that programme is sustainable.

On his part, Sambo described UIF .P6 XJUI UIF /#" BT B landmark achievement for the NHIS which has been campaigning for more Nigerians to register under the health scheme. He said: “ The event of today is very significant in that our drive towards attaining universal health coverage is gaining momentum”. Sambo said the development of the GIFSHIP insurance platform was meant to give everyone opportunity to join the health insurance scheme irrespective of where he or she works. Speaking to journalists shortly after the ceremony, the Executive Secretary said that federal executive council has approved a proposal put forward by the NHIS management to embark on massive infrastructure development at all its offices nationwide and to ensure the deployment of information and communication technology devices that will become automated in the next few months.

Info@lifelinkfertility.com; Website: lifelinkfertility.com 08033083580

ast week we discussed about the danger signs in pregnancy, this week we will be continuing with symptoms you should not ignore in pregnancy.

SWOLLEN HANDS OR FACE: In pregnancy, most body part may seem to be getting bigger and a little bit of swelling might be expected, close attention must be paid to the hands and face. Puffiness in the face and anything more than a little swelling of the hands could be a sign of pre-eclampsia, also known as pregnancy-induced hypertension (PIH) or toxemia. Severe, sudden swelling in the ankles and feet must also be noted. Early detection and close monitoring with regular blood pressure check and specialist management is required in Pre-eclampsia. Symptoms of Pre-eclampsia include: r )FBEBDIFT r 4XFMMJOH PG ZPVS GFFU BOLMFT GBDF PS hands r 1BJO JO ZPVS VQQFS BCEPNFO r #MVSSFE WJTJPO r 1SPUFJO JO UIF VSJOF EJBHOPTFE EVSJOH routine ANC check by urinalysis test. Pre-eclampsia not treated will get severe, and can cause brain, liver, kidney, heart or eye damage and sometimes seizures. Delivery of the baby may be the best treatment for preeclampsia, however if baby has not developed enough, bed rest at home or in the hospital until blood pressure is controlled or the baby is ready for delivery is needed depending on the appropriate option of treatment by the physician that is managing the patient.

FEVER: Most pregnant women are vulnerable to cold and flu germs, so a fever is likely to happen sometime during the nine months period. There are a number of viruses and conditions that can cause fever. A temperature that is over 100F (37.8C) could be a sign of infection or illness. If it lasts longer than 24 to 36 hours then the need for treatment arises, as a high temperature or infection can lead to preterm labor. The infection may need to be treated with antibiotics or other medications. BABY MOVEMENT: #BCJFT TUBSU UP NPWF FBSMZ in pregnancy. Most women start to feel the movements at about 18-20 weeks or halfway through the pregnancy. Each baby has its own pattern of movement. Every woman needs to know the pattern of their baby’s movements, keep track and know when to tell the doctor about possible irregularities noted.

PREMATURE RUPTURE OF MEMBRANES (PROM): Rupture of membranes is a normal part of giving birth. It’s the medical term for saying your “water has broken’. It means that the amniotic sac (water sac) that surrounds the baby was broken, allowing the fluid to flow out. While it is normal for the sac to break during labor, if it happens too early, it can cause serious complications. This is called preterm/ premature rupture of membranes (PROM). The cause of PROM is not always clear, but sometime genetic factor and infection of the amniotic membranes can be a cause. Treatment of PROM varies. Women are often hospitalized and given antibiotics, steroids and drugs to stop labor. When PROM occurs at 34 weeks or more, some doctors RAPID WEIGHT GAIN: There should be no might recommend delivering the baby. At that time stress about gaining weight as that is expected in the risk of prematurity are less than the infection pregnancy, but if more than is added in a week, risks. If there are signs of infection, labor must be that could be another sign of pre-eclampsia, in induced to avoid serious complications. Occasionally, which case specialist evaluation will be required. a woman with PROM experiences resealing of the membranes. In this case a woman with pregnancy ITCHING: The skin could be itchy simply can continue her pregnancy to near term, although because it is dry or over stretched or due to still under close observation. The risks associated with the presence of a rash called PUPPP, an itchy prematurity decrease significantly as the fetus nears rash that appears in stretch marks of the stomach term. If PROM occurs in the 32-to 34- week range in late pregnancy, which is aggravating but and the remaining amniotic fluid shows that the OPU IBSNGVM BU BMM #VU JG ZPV IBWF BMM PWFS fetus’ lungs have matured enough, the doctor may itchy, or your itchiness is more severe than discuss delivering the baby in some cases. Availability normal, special test need to be done to rule of improved intensive care nursery services, many out cholestasis in pregnancy, a liver disorder preterm infants born in the third trimester (after 28 that can cause serious issues, such as preterm weeks) usually survive. labor and stillbirth. ABDOMINAL PAIN: In the third trimester, causes BACKPAIN: Women experiencing backpain of abdominal discomfort can include gas, constipation, are advised to seek specialist attention. Pain BOE #SBYUPO )JDLT DPOUSBDUJPOT GBMTF MBCPVS BOE must be checked to make sure is just normal they should not cause excessive amounts of pain. It pregnancy pain and not a sign of bladder is important to see your physician if you experience severe abdominal pain. infection, cyst, miscarriage or preterm labor. BLURRY VISION: Getting up too fast from the bed can result in some normal pregnancy EJ[[JOFTT #MVSSZ WJTJPO UIBU JT QFSTJTUFOU PS comes along with other symptoms, such as headache or rapid weight could be a sign of preeclampsia or gestational diabetes, both of which require urgent medical management.

CONCLUSION Knowledge of the danger signs will help women to make the right decisions and take appropriate healthcare seeking action, which means receiving immediate and appropriate care, which reduces maternal mortality (death rate) and morbidity (incidence) associated with pregnancy.

T H I S D AY ˾ , SEPTEMBER 9, 2021

NEWS

0CJ %POBUFT / . UP 4IBOBIBO 4DIPPM PG /VSTJOH .JEXJGFSZ BOE )FBMUI 5FDIOPMPHZ r $PNNFOET 6HXVBOZJ The Vice Presidential Candidate of the Peoples Democratic Party (PDP) in the 2019 election, Mr. Peter Obi, has made a donation of N100 million to Shanahan Specialist Hospital, Nsukka, for their School of Nursing, Midwifery and Health Technology over the next three years. This is just as he appreciated the Governor of Enugu State, Rt Hon Ifeanyi Ugwuanyi, for ‘his support and commitment to serving his people by ensuring the growth of the most critical measure of development’. Obi said his mission at the hospital would not have been possible, without the intervention of the governor. Presenting the cheque to the Proprietor of the Hospital and Catholic Bishop of Nsukka Diocese at the hospital premises, Obi also stated the urgent need for more investment in Nigeria’s health sector, especially at the primary level, saying nurses and midwives play very critical roles in healthcare delivery. “We cannot talk about health, especially primary healthcare, which is the most critical, without talking about

the contribution of nurses and midwives. “Nurses and midwives account for over 50 per cent of global health workforce. They play a very vital role in health promotion, disease prevention, delivery of primary and community care. They are key to the achievement of universal health coverage,” Obi explained. Obi added that there is shortage of nurses and midwives, not just in Nigeria but globally, and that by 2030, more 10 million nurses will be needed in the global health sector. Therefore, he said it is imperative to set up and equip colleges of nursing sciences and schools of midwifery to train health professionals who will fill in the gap. The Proprietor of the Hospital and Catholic Bishop of Nsukka Diocese, Most Rev Godfrey Onah, while welcoming Obi and appreciating his kind gesture, described him as a lover of humanity. Recalling how Obi had remained supportive of the hospital, even when he was the Governor of Anambra State, Bishop Onah said Obi

&QJ"'3*$ 4FU UP )PME 4JYUI A)FBMUI .FFUT 5FDI )BDLBUIPO Sunday Ehigiator EpiAFRIC, an African health consultancy group has expressed readiness to hold the sixth edition of the Health meets Tech Hackathon, themed, ‘Navigating Healthcare post-COVID-19’, aimed at using technology to provide health solutions to Nigerians. In a recently signed statement by the event organiser and partners, the CEO EpiAFRIC, Dr. Ifeanyi Nsofor, revealed that the event would run for two days, September 10 and 11, 2021, both virtual and physical, at the Ventures Platform in Abuja. According to him, the initiative was designed to build an ecosystem of heath and tech practitioners to design and deploy contextually-relevant tech solutions across Africa. “The hackathon will create a platform for health workers to work with developers, business persons and tech practitioners to develop viable solutions that will improve both population health and clinical care in the post COVID-19 era. “This year promises to be epic as we would be expecting the teams to come up with disruptive ideas on how technology can be used to accelerate and provide better healthcare services especially as we gradually begin to live in a post-COVID-19 world. “It is a once in a lifetime opportunity for capacity building, mentoring, networking and support to build solutions from simple ideas to workable porotypes.

“EpiAFRIC will be partnering PandemicTech, Marie Stopes Nigeria, Riders for Health, WellaHealth, Pathfinder International, Save the Children Tanzania, Doctoora, Ventures Platform and Nigeria Health Watch.” Also speaking, acting CEO, TY Danjuma Foundation, Gima Forje, expressed excitement, while stating that the foundation was partnering EpiAFRIC to hold the event. “We are excited to be partnering EpiAFRIC to roll out this year’s hackathon. Although we are not yet out of the pandemic, we would be looking out for innovative projects that would help us bring to the forefront of the needs that are cost effective and cater for the needs of these challenging times.” In her remarks, the Country Director, Pathfinder International, Dr. Amina Dorayi, explained that technology was a common denominator that facilitates the work “we do especially in the post pandemic world”. She further stated that the health meets tech hackathon provides an opportunity for health and tech practitioners to come together to create tech solutions for health service delivery and logistics management. “I am excited by these possibilities that the hackathon will present to us in Nigeria and we look forward to innovations that will address the challenges of health access, quality and outcomes of care especially for women and young people.”

loves to identify with and help those in need. Onah described Obi as one who has the practical ideas to change Nigeria for the better. He urged Obi to hold on to his integrity which, he said, stands him apart. “There are many politicians who are as intelligent, smart and influential as Peter Obi. However, Peter Obi’s integrity

stands him out from them all. “Throughout his years in the shark infested waters of Nigerian politics, Obi has refused to be stained by the corruption that pervades the entire political system. His commitment to human development remains exemplary”, Onah said. In their respective speeches, the Hospital Administrator,

Rev Fr Greg Onah and the Director of Health Services, Nsukka Diocese, Rev Fr Dr Mellitus Ossai, described Obi as a friend to the needy. In the words of Fr Ossai, “Obi’s generosity and support are exceptional because he not only responds to appeals but goes out to seek for and help many others.” They prayed God to bless

him and give him the platform to touch more lives. Obi was accompanied by his former Chief of Staff and Former Commissioner for Budgeting and Economic Planning, Prof Stella Chinyere Okunna, and the former Commissioner for Housing and Urban Development, Anambra State, Dr Patrick Nky Obi.

Former Governor of Anambra state, Mr. Peter Obi with others while presenting the cheque of N100 million

'JUCJU 3FEFGJOFT 4USFOHUI 8JUI $IBSHF Fitbit, a leading consumer electronics and fitness company, has recently introduced Fitbit Charge 5, their most advanced health and fitness tracker, to help keep a pulse on fitness, stress, heart health, sleep and overall wellbeing – all in a thinner, sleek design. With a brighter, colour touchscreen and up to seven days of battery life (varies with use), Charge 5 delivers the convenience features needed to focus on what’s most important. The company is also offering customers with six months of Fitbit Premium, deeper insights, actionable guidance and a range of more than 500 workouts, mindfulness and nutrition sessions to empower them to do what’s best for their bodies each day. With Fitbit Premium’s new Daily Readiness experience, coming soon to Charge 5, as well as Sense, Versa 3, Versa 2, Luxe and Inspire 2 devices, people can understand if their bodies are ready for a workout or if they should prioritize recovery instead. Each morning, they receive a score based on their fitness fatigue (activity), heart rate variability (HRV) and recent sleep. They will also get an analysis of what impacted their scores, and suggestions like a recommended target Active Zone Minutes goal, along with Premium content

to help them make the best decisions for their bodies. Charge 5 also includes built-in GPS, 20 exercise modes, automatic exercise recognition and an estimate of your V02 max. Plus, with Premium, people can access more than 200 workouts from certified trainers and popular brands like Daily Burn, barre3, Obé and new high energy workouts from LES MILLS. During 2020, a record-high 40 per cent of adults said they experienced a lot of stress. To help people better manage stress, Charge 5 is the first tracker to include an EDA sensor, which measures the body’s response to stress through tiny changes in the sweat glands on the fingers. EDA was first launched last fall with Fitbit Sense and have found 70 per cent of users reduced their heart rate during a two-minute EDA Scan session, showing these tools can help reduce stress. “With Charge 5, customers also get a Stress Management Score in the Fitbit app, so they can see each morning if they’re mentally ready to take on more challenges, or if they need to recharge. “With Premium, people get access to more than 300 meditation and mindfulness sessions from brands and experts, like Ten Percent Happier and Mindful Method by Deepak Chopra

to help you manage your stress. “We are also announcing a partnership with Calm, the #1 App for Sleep, Meditation and Relaxation, which will soon provide Premium members with access to Calm content,” the company said. The makers of the Fitbit range also prioritised heart health with Atrial fibrillation (AFib), the world’s most common heart rhythm condition, and since launching the ECG app on Sense, users have taken more than four million assessments. The ECG app will be available soon on Charge 5, bringing a critical tool to more people at a more approachable price. Charge 5 also tracks the heart rate 24/7 and provides notifications when they are above or below their personal ranges, and while many factors can affect their heart rate, a high or low heart rate may be an indication of a heart condition that requires medical attention. In addition to managing heart health, Charge 5 provides a holistic view of other key wellness metrics via the Health Metrics dashboard in the Fitbit app, including breathing rate, skin temperature variation and SpO2. With Premium, you can also track long-term trends and personal ranges. And because sleep is also

critical to the wellbeing, buyers will continue to receive industry-leading sleep tools like daily Sleep Score, Sleep Stages and SmartWake alarms. Premium members also receive a deeper analysis and guidance to improve sleep quality. Beyond health and wellness support, Charge 5 delivers the convenience features needed. With the swipe of a finger, people can view their stats, make contactless payments, receive/send notifications from/to their smartphone (quick replies with Android only), and choose from 20 colourful clock faces to customize what information they want to see most. Ten percent thinner than its predecessor, Charge 5 has an aerodynamic design and is optimized for performance and engineered for a seamless fit. With a new AMOLED colour display, Charge 5 is the first tracker with an always-on display option for added convenience to see their stats or while training. The display is also two-times brighter than its predecessor making it easy to see your stats on sunny days. You can also switch up your look at any time, choosing from lightweight silicone infinity bands, breathable sport bands, plush nylon hook and loop bands. and hand-crafted premium Horween leather bands.

T H I S D AY ˾ , SEPTEMBER 9, 2021

NEWS

Dare Dairo: Championing the Cause for the Disabled Dare Dairo is a broadcast journalist and current General Manager of the Lagos State Office for Disability Affairs (LASODA). Until his appointment as GM LASODA, he was the state Chairman for the National Association of Persons with Physical Disabilities, a position he used to attract corporate funding for the procurement of commercial tricycles for his members who are into transport business. Many of the beneficiaries have progressed to owning Sienna buses and other modes of the transport business. Born Oluwadamilare Ogundairo but better known as Dare Dairo, he is also a past Public Relations Officer of the Joint National Association of Persons with Physical Disabilities (Lagos State Chapter), a position through which he increased public awareness on issues of the rights of persons living with disabilities and the need for inclusive policies to ensure that their rights and essentials were mainstreamed into all government programmes and policies. As a polio survivor, Dare Dairo learnt early in life that there are certain things over

which humans may have little control, like the colour of our skin or the box we tick in the gender column. He however came to understand that we all have a choice to either accept these boxes or communicate a more desirable impression of our true potentials and believes. With a first degree in English Language from the Obafemi Awolowo University and a professional broadcast training in presentation skills at the Federal Radio Corporation of Nigeria (FRCN) Training School, Dare learnt the power of language in making the right impressions. A lingering fascination for the theatre equipped him with critical techniques in projecting appropriate images that resonate with target audiences for emotional connections leading to brand recall and patronage. Employment discrimination made him embrace entrepreneurship. Fate Foundation’s programme for aspiring entrepreneurs provided him the business perspectives to survival. Marriage and three children have taught him the value of relationships, the advantage of an open mind, and the joy of

Lagos Health Commissioner Lauds MHF Innovation Sunday Ehigiator The Lagos State Commissioner for Health, Professor Akin Abayomi, has described the Modular Healthcare Facility (MHF), recently launched by Alpha Mead Healthcare Management Services (AMHS) as an exciting innovation that will boost access to healthcare in Nigeria. He made this remark during an inspection and walkthrough of the MHF at the Gbagada General Hospital recently. The MHF, is a fully-equipped healthcare facility that can be built and operational within 30 days. It is a prefabricated, customisable, and transportable portacabin with installed medical equipment and healthcare technology applications that can be set on wheels, coupled together, and start operations in few days. Speaking to journalists after the inspection, the commissioner said: “It’s innovative; nice. It’s well organised and clean. It has a robust array of facilities within it and can be used in specific locations. “I’m happy to see it’s an indigenous product; it has all the required technical backdrops. It’s also energy conscious. It’s mobile.” The Commissioner also expressed the state government’s willingness to collaborate with AMHS to deploy the facility, noting that the MHF will come handy in interim and stopgap situations where the government haven’t erected physical structures yet. Briefing the commissioner before the walkthrough of the facility, the Group Managing Director, Alpha Mead Group Engr. Femi Akintunde, disclosed how the company came up with

the exciting innovation and its benefits. He explained that Alpha Mead was inspired by the need to take quality healthcare facilities to all Nigerians and reduce the construction timeline of a healthcare facility to less than 30 days, saving the time lost to design, construction, equipment installation and commissioning of regular brick and mortar healthcare facilities. Akintunde further explained that the MHF is not a replacement for hospitals but designed to complement gaps in healthcare, especially leverage it mobility feature. The GMD, who thanked the state government for allowing the company to set up the facility at the Gbagada General Hospital, further disclosed that the “MHF leverages technology to connect patients with medical doctors anywhere through its telemedicine facilities.” On his part, the Managing Director, of AMHS, Kunle Omidiora said the product is coming to bridge the widening gap in access to quality healthcare in Nigeria. He commented. According to him, “from whatever lens one chooses to view the challenges with the healthcare sector in Nigeria today; whether financial, personnel, equipment, systems or technologies; the biggest challenge with Nigeria’s healthcare sector is that of access to quality healthcare. “This challenge is costing our nation a great deal. For example, a USAID report noted that Nigeria shoulders up to 10 per cent of the global disease burden. “The report noted further that this situation is caused by lack of access to quality healthcare facilities and workers, particularly in the rural areas.”

learning something new every day. After over a decade of experience as a freelance radio

presenter, communications/ media consultant, trainer and strategist for SMEs, non-profits and political campaigns, Penkraft

Solutions was born. At PenKraft Solutions, he leads a team that realises that, in life, everyone is always selling

something; he and his team help individuals and business communicate what you wish to sell.

Dairo

IPRO Treatment Training, a Solution to Childhood Cancer in Africa, Experts Posit Sunday Ehigiator

Medical experts at the two-day virtual bootcamp on Intensified Pediatric Radiation Oncology (IPRO), have stressed that training of medical personnel on IPRO treatment would go a long way to reduce childhood cancer in Africa. They made this statement during the virtual bootcamp recently organised by The Dorcas Cancer Foundation (TDCF), in collaboration with Association of Radiation and Clinical Oncologist of Nigeria (ARCON) In his remark, the Founder TDCF, Dr Adedayo Joseph, said, while radiation therapy was necessary and was a highly specialised treatment modality in childhood cancers, access to pediatric radiation oncology services and specialists in Nigeria was significantly deficient. Dr. Joseph, also a Clinical Radiation Oncologist and Research Programme Director at the NSIA-LUTH Cancer Center, said there was need to improve the survival rates for children

living with cancer in Nigeria and Africa. He said, “In Nigeria, we have limited access to Pediatric Radiation Oncology, training or expertise. It is an underserved population and an issue that must be addressed if pediatric cancer survival is truly going to improve in the country.” According to him, radiation therapy contributes to 40 per cent of all cancer cures world-wide, and it’s used for curative treatment, to improve quality of life, for pain control and to treat other conditions such as bleeding, skin conditions and more. The World Health Organisation’s (WHO) 2018 report, notes that over 80 per cent of childhood cancer cases occur in low and middle income countries, while the childhood cancer associated mortality is two to three times recorded in high income countries. Joseph said, “everyone must work together to increase the survival rates of children living with cancer to at least 60 per cent by 2030, with a considerable inter-

est in LMIC like Nigeria where survival rates are remarkably lower than HIC.” Also speaking, the President of ARCON, Dr. Nwamaka Lasebikan, said accessing radiotherapy services in Nigeria has been a huge challenge. He noted that only four centres are currently offering the services across the 36 states in the nation, with only two of the centres equipped with modern imaging treatment planning machines and software. While speaking on the importance of pediatric radiation oncology fellowship training programme in Nigeria, Lasebikan, who is also a Consultant Clinical and Radiation Oncologist at the University of Nigeria Teaching Hospital, said it will provide for continuous meaningful manpower development and make adequate long term advances in the care for pediatric oncology patients. She said there was an urgent need to rapidly upscale the skills of healthcare personnel tasked with providing care to this

vulnerable group, while there is simultaneous effort to provide the necessary infrastructure to enable health care personnel tackle cancer through active oncology care. Also speaking, Pediatric Hemato-Oncologist, Lagos University Teaching Hospital, Dr. Seye Akinsete, decried the rising burden of pediatric oncology treatment deficit in Nigeria. He lamented the lack of manpower, stating that Nigeria has only 42 pediatric oncologists as at 2019, with few or no pediatric oncology trained nurses, pharmacists, nutritionists and psychologists. Addressing radiation oncology challenges, Associate Professor, Pediatric Hematology Oncology, St. Jude Children’s Cancer Center, Global Team, Dr. Manoo Bhakta, said in order to achieve the WHO goal of having at least 60 per cent survival for all children with cancer care by 2030, capacity of countries must be increased to deliver best practices in childhood cancer care.

Nordica Foundation Announces Second Edition of The Dr. Abayomi Ajayi Mentoring Programme Rebecca Ejifoma Nordica Foundation has announced its second edition of The Dr. Abayomi Ajayi Mentoring Programme for 12 non-practicing doctors which will run from mid October this year to the end of the first quarter of next year. The foundation noted this at a media parley, which was held in Lagos to announce the second edition. The Convener, Dr. Abayomi Ajayi, highlighted that the Mentoring Programme seeks to change the mindset of Nigerian doctors and hopefully stem the brain-drain by proverbially teach-

ing them how to fish instead of giving them fish. Through the mentoring model, Ajayi said they expose young Nigerian doctors to the wealth of experience of successful Nigerians in different fields of industry as mentors. “It is to equip them with the expertise needed to build successful enterprises, and to help build a robust healthcare system in Nigeria”. While conceding that the first edition was a huge success, with the 12 mentees attesting to how much they were greatly impacted by the series of training and mentor-sharing sessions, the convener anticipated a much

more impactful edition. He assured newsmen: “We will be deepening the scope of input in the 2nd edition, which should commence by mid October 2021 and run till the end of the 1st quarter of 2022. The call for entries is currently on-going and the selection process will be rigorously demanding on prospective entrants.” Fully funded by the Nordica Foundation since inception, Ajayi said the life-transforming project requires the support of well-meaning organisations to be able to impact more doctors in their goal to increase the number of yearly participants.

According to Ajayi, whose goal is simply to give back to the society, in his experience as a trained Nigerian medical professional, he observed that the major weakness in “Our doctors is a dearth in entrepreneurial education. “That is, the capacity to see the breadth of opportunities that brings professional and financial reward. It is said that success is the application of knowledge to solve problems. In a country like ours with the myriad of challenges in healthcare, Nigerian doctors are meant to be extremely successful if they apply entrepreneurship skills.”

T H I S D AY ˾ ˜ SEPTEMBER 8, 2021

BUSINESS/MONEYGUIDE

CBN Directs Banks, PSBs to Disaggregate Bulk Payments Nume Ekeghe The Central Bank of Nigeria (CBN) has instructed banks and Payment Service Providers (PSBs) to separate all transactions that would normally categorised as bulk payment upon transition. The apex bank in a circular posted on its website yesterday signed by the Director, Payments System Management Department Musa Jimoh, stated that the directive is in a bid to ensure transparency and clarity for auditing within the banking system.

The regulator directed banks and PSBs to comply with the directive and all other payment system regulations. According to the CBN, “The Central Bank of Nigeria has noticed the inherent problems associated with the processing of bulk transfers by banks and payment service providers. Currently, originating banks and PSPs pass a single debit entry through the initiating customers’ account and multiple credits to beneficiaries without adequate records of the credit entries in their system. This distorts the audit

trail and hampers transparency. “In order to address this challenge, the CBN hereby directs that all end-to-end bulk payments or transfers shall henceforth be processed on the platforms of banks or PSPs for their customers with a detailed breakdown of the accounts that receive the credits retained in the custody of the sender’s banks.” The central Bank further reiterated that all banks and PSPs are required to ensure full compliance with the requirement and all other payment system regulations.

Omogiafo: Transcorp Aims at Improving Lives, Transform Nigerian Economy Darasimi Adebisi The President/Group Chief Executive Officer, Transnational Corporation (Transcorp) of Nigeria Plc, Owen Omogiafo has said the Conglomerate aim at improving lives and transforming the nation’s economy. While delivering the financial performance of the company for half year ended June 30, H1 2021, Omogiafo, during a virtual analyst parley on Wednesday said that although the COVID-19 pandemic affected global businesses last year, the positive economic turnaround in economies especially Nigeria has improved the present half year financial performance better than it was in prior year half year results. The Conglomerate with strategic investments in the Power, Hospitality, and Energy sectors, recorded a profit after tax of N6.5 billion, rising by

713 per cent up from N0.8 billion recorded in June of the previous year. Its revenue rose by 53 per cent, from N35 billion in June 2020 to N53.3 billion in H1 2021 to contribute to 689 per cent increase in Profit before tax (PBT) from N0.9 billion in June 2020 to N7.1 billion in June 2021. Whilst reiterating the Conglomerate’s commitment towards producing long-term value and sustainable impact, she revealed that the company is growing impressively in its top-line and bottom-line indices while adding that its entities are also growing. Speaking on the outlook of the company in H2 2021, Omogiafo said, “We do not plan to rest on our oars. We will continue to sweat our existing assets and explore new frontiers, as we continue to deliver on our purpose of improving lives and transforming Nigeria.”

Corroborating her, the Managing Director, Transcorp Power Limited, Christopher Ezeafulukwe, said the company intends to gradually sustain the increase of power generation over the next 5 years and added that it is targeting 258MegaWatts capacity by December 2021. “We will continue to engage with key stakeholders to sell our stranded capacity through the West African Power Pool (WAPP), partnerships with Discos, eligible customers, among others. “We also want to continue to engage with NBET to ensure our invoices are settled on time to improve liquidity,” he said. The management said it would continue to engage the Federal Government as well as the Nigerian Bulk Electricity Trading Plc (NBET) to ensure its invoices are settled on time to ensure to improve its liquidity.

MARKET INDICATORS MONEY AND CREDIT STATISTICS Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

In a bid to deepen value chain and touch more critical aspects of their clientele, FSDH Merchant Bank seeks to grow its activities by engaging the value chains of corporates in the distributive trade. To achieve this, the Bank held a first-of-its-kind distributors forum focusing on distributors from different sectors. The bank in statement said the forum, which was held at its Abuja branch hosted top key distributors from some of their notable corporate clients. “The aim of the session was to showcase FSDH’s value proposition offerings- such as the recently approved product paper for cement dealers, asset finance product, Form Q for SMEs to access, business registration services, BTA/PTA and our business

banking accounts. “As the first of its kind in the Merchant Banking space, the Distributors’ forum will continue to hold periodically and focus on key value-chain stakeholders in the business of their key clients. At the forum, distributors learnt about the amazing capital opportunities at FSDH, insightful sessions focusing on different chains of business operations and capacity building, “it stated. The statement quoted the Managing Director, FSDH, Mrs Bukola Smith, to have expressed that true to its nature of supporting businesses at all levels, “the bank has also created custom offerings that we are persuaded really suit the needs of the average corporate value chain, ranging from specialized loan offerings, cost savings business

accounts, trade solutions, asset lease finance and so on. The confidence we have is that our services can help power your businesses and in turn power the economy at considerable scale’’, According to the Head, Value Chain Management at FSDH, Helen Nwelle; “It is not often that a Merchant Bank confers on itself, the responsibility of growing the value chain of its large corporates. While this may seem as an innovative strategy to get more business, it demonstrates a new-to-industry interest in the SME business terrain. At FSDH, we are not just interested in Corporates, we are also passionate about their down-lines as they are even more pivotal towards achieving national economic development.”

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

FSDH Merchant Bank Holds Inaugural Distributors’ Forum

(MILLION NAIRA)

JANUARY 2021

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ Ͷ

The price of OPEC basket of thirteen crudes stood at $71.35 a barrel on Tuesday, compared with $71.30 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ˜ ͷ˜ ͰͮͰͯ

Loses in Chams, International Breweries Drives Stock Market Lower Eromosele Abiodun The Nigerian equities market closed lower at the close of trading yesterday as the Nigerian Exchange Limited (NGX) All-Share Index or ASI, which sjows the direction of the market decreased by 0.12 per cent to close at 39,204.52pts. Yesterday’s performance was mainly due to the losses recorded in SCOA Nigeria Plc (-9.72%), VERITASKAP Plc

(-8.70%), MANSARD Insurance Plc (-5.68%), Chams Plc(-4.55%) and International Breweries Plc (-4.00%), which offset the gains recorded in REGALINS Plc (+8.51%), Universal Insurance Plc (+5.00%), Sovereign Insurance Plc (+4.17%), First City Monument Bank Plc (+3.45%), Oando Plc (+3.18%). In yesterday’s trade, market breadth index was flat with 15 losers against 15 gainers. Sector performances were mainly negative yesterday with

P R I C E S MAIN BOARD

F O R DEALS

the Banking Sector (-0.32%) and Consumer Goods (-0.08%) sectors closing red, while the Oil and Gas (+0.55%) sector closed green and the Industrial sector closed flat. In terms of activity levels, total volume decreased marginally by about 1 per cent, while total value increased by about 12 per cent, as investors exchanged about 354million units of shares worth about N3.20billion. FBN Holding Plc was the most actively traded stock with about

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

86million units of shares worth about N641million. The equities market negative closed yesterday can also be attributed to the loss recorded in the Banking and Consumer Goods sectors. Going forward, experts expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. Market analysts reiterate that this may be a great period to pick up some quality names

T R A D E D MAIN BOARD

A S

with a medium to long-term investment horizon. Meanwhile, at the IEFX window, the Naira closed up by 0.13 per cent and 0.02 per cent vs the EUR and GBP closing at N486.26 and N566.41 respectively, while it depreciated against the USD by 0.02 per cent closing at N411.50. At the parallel market, the Naira depreciated by 0.56 per cent, 0.41 per cent and 0.48 per cent against the USD, GBP and EUR to close at N535, N730 and

O F

N629 respectively. Money Market rates rose tyesterday as Open Buy Back and Overnight rates increased by 183bps and 208bps to close at 8.83 per cent and 9.33 per cent respectively. The bond market traded on a quiet note today, as yields on most maturities closed flat. We witnessed the yields on the 5yr, 7yr and 10yr benchmark bonds close flat at 10.57 per cent, 11.21 per cent and 11.56 per cent respectively.

0 8 / 0 9 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

THURSDAY SEPTEMBER 9, 2021• T H I S DAY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 07Sept-2021, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 160.90 162.25 -0.62% Afrinvest Plutus Fund 100.00 100.00 6.10% Nigeria International Debt Fund 322.69 322.69 -15.98% Afrinvest Dollar Fund 110.67 110.67 -0.27% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 9.67% AIICO Balanced Fund 3.31 3.47 -2.54% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.76% Anchoria Equity Fund 138.38 140.04 4.03% Anchoria Fixed Income Fund 1.15 1.15 -13.72% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 19.53 20.12 7.70% ARM Discovery Balanced Fund 431.73 444.75 7.83% ARM Ethical Fund 38.16 39.31 13.20% ARM Eurobond Fund ($) 1.09 1.10 -0.56% ARM Fixed Income Fund 0.97 0.98 -7.08% ARM Money Market Fund 1.00 1.00 8.65% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.11 106.11 4.33% AVA GAM Fixed Income Naira Fund 1,031.88 1,031.88 3.19% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.04 2.04 -7.83% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.13 2.17 -6.92% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 8.56% Paramount Equity Fund 16.57 16.87 3.59% Women's Investment Fund 136.97 138.55 2.92% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 7.47% Cordros Milestone Fund 2023 118.91 119.67 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 108.16 108.16 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 7.91% Coronation Balanced Fund 1.21 1.22 0.80% Coronation Fixed Income Fund 1.44 1.44 -8.93% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 8.09% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 7.94% EDC Nigeria Fixed Income Fund 1,159.78 1,176.85 0.69% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,412.97 1,412.97 11.36% FBN Balanced Fund 191.20 192.44 1.88% FBN Halal Fund N/A N/A N/A FBN Money Market Fund 100.00 100.00 9.39% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

N/A 158.01

N/A N/A 160.03 4.52% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.97 1.60 1.19

Offer Price Yield / T-Rtn 1.00 5.85% 3.97 2.55% 1.63 4.75% 1.19 4.42% coralfunds@fsdhgroup.com

Bid Price 3,768.44 3,395.70 100.00

Offer Price 3,822.23 3,395.70 100.00

Yield / T-Rtn 0.60% 3.63% 4.72%

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.68% Vantage Balanced Fund 2.79 2.85 -2.45% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 152.94 153.21 -1.65% Vantage Equity Income Fund (VEIF) - June Year End 1.27 1.32 1.23% Vantage Dollar Fund (VDF) - June Year End 1.10 1.10 0.72% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.42 1.44 4.17% Lotus Halal Fixed Income Fund 1,148.49 1,148.49 5.76% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.45 11.49 9.32% Meristem Money Market Fund 10.00 10.00 9.02% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.67 1.70 7.12% PACAM Fixed Income Fund 11.58 11.57 -4.78% PACAM Money Market Fund 10.00 10.00 5.56% PACAM Equity Fund 1.65 1.66 4.30% PACAM EuroBond Fund 113.10 115.01 2.98% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.53 134.11 8.75% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.05 1.05 10.05% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A Stanbic IBTC Enhanced Short-Term Fixed Income Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A United capital Sukuk Fund N/A N/A N/A QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.86 12.97 8.38% Zenith Ethical Fund 14.33 14.48 17.37% Zenith Income Fund 24.34 24.34 1.50% Zenith Money Market Fund 1.00 1.00 6.07%

REITS NAV Per Share

Yield / T-Rtn

124.98 53.10

10.62% 5.15%

Bid Price

Offer Price

Yield / T-Rtn

13.30

13.40

0.59%

121.41 96.63 17.33 18.26

124.43 98.74 17.43 18.36

0.97% -2.61%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.89 5.46 17.39 1.00 19.50 158.08

3.93 5.54 17.49 1.00 19.70 160.08

3.15% -4.07% 7.15% 0.00% -4.96% -28.13%

NAV Per Share

Yield / T-Rtn

107.40

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

IMAGES

T H I S D AY ˾ THURSDAY SEPTEMBER 9, 2021

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Deputy Chief Executive Officer, Advans La Fayette Microfinance Bank, Jean Luc Nzoubou; Head of Marketing and Communications, Priscilla Iyari; Head of Business Development, Olawale Raheem; and Managing Director/CEO, Gaetan Debuchy, receiving the Most Outstanding Customer-centric Microfinance Bank of the Year Award from wife of the MD and Publisher of Marketing Edge, Mrs. Dupe Ajayi, during the 2021 Marketing Edge Summit and Awards event in Lagos…recently

L-R: Director, Inspection and Monitoring Office of the Special Adviser on Education (OSAE), Lagos State, Funmilola Olajide; Permanent Secretary, OSAE, Mr. Adeniran Kasali; state Commissioner for Information and Strategy, Mr. Gbenga Omotosho; and the Chief Press Secretary to the state Governor, Gboyega Akosile, briefing State House correspondents on the newly evacuated 68 students of the University of Jos, who are Lagos State indigenes/residents, on their arrival at the Folarin Coker Staff Clinic, Alausa, Ikeja, Lagos… recently PHOTO: ETOP UKUTT

L-R: Chairman/Chief Executive Oﬃcer, Nigerians in Diaspora Commission, Hon. Abike Dabiri-Erewa; the Olugbon of Orile Igbon, Oba Francis Olushola Alao; Director-General, Centre for Black and African Arts and Civilization (CBAAC), Hon. Oluwabunmi Amao; and Senator Kola Balogun at the Open House Unveiling of the Black and African Hall of Fame held in Abuja...recently

L-R: Managing Director, Bank of Industry (BOI), Mr. Olukayode Pitan; and President, Institute of Chartered Accountant of Nigeria (ICAN), Mrs. Comfort Olu Eyitayo, during ICAN courtesy visit to BoI in Lagos...recently

L-R: Head of Retail, Adedunmola Fabikun; Chief Operating Oﬃcer, Morinsola Arogundade, both of DashMe Foundation; Chief Commercial Oﬃcer, Ogochukwu Onyelucheya; and Head of Corporate Communications, Felix Ofulue, both of Ikeja Electric, during the presentation of donated items to DashMe Foundation to support the needy, in Lagos…recently

L-R: Head of Commercial, EdFin Microﬁnance Bank, Mr. Rotimi Ajibade; Founder/CEO, Call To Love Initiative, Mrs. Omowunmi Ajila; Head of Community Banking, First Bank of Nigeria, Mr. Akinwande Meadows; Chairman, Nigerian Red Cross, Lagos branch, Mrs. Adebola Kolawole; and Head, ME & MES, Lagos State Employment Trust Fund (LSETF), Mr. Funsho Ogunlumade, during the Call To Love Breakfast Forum for low cost school owners and discussion on ways to access funds to improve quality education in Lagos…recently PHOTO: ETOP UKUTT

L-R: National Vice Chairman, Association of Community Pharmaceutical of Nigeria (ACPN), Mr. Daniel Ajayi; National Chairman, ACPN, Dr. Samuel Adekola; Production Manager, EMZOR, Mr. Olotu Osamudiamen; and Head of Sales, Marketing and Strategy (Pharm and Vaccines), Zolon Health Care Limited (a member of Emzor Group), Mr. Chukwu Ekwe, during the visit of the ACPN to Emzor Ultra-Modern WHO-compliant pharmaceutical factory in Shagamu, Ogun State…recently PHOTO: DAN UKANA

L-R: Assistant Brand Manager, The La Casera Company, Bukola Disu; Group Marketing Director, Jotna Nigeria Limited (The La Casera Company), Emmanuel Agu; Senior Brand Manager La Casera Company, Chike Nwokoye; CEO/Chief Economist, Global Trade Policy Initiatives, Dr. Femi Badejo; and Group Portfolio Marketing Manager, Jotna Nigeria Limited, Onyekachim Okoli, during the presentation of Outstanding Carbonated Soft Drink Brand of the Decade Award to La Casera at the 2021 Marketing Edge Summit and Awards in Lagos… recently

THURSDAY SEPTEMBER 9, 2021 • T H I S D AY

THURSDAY, SEPTEMBER 9, ͰͮͰͯ ˾ T H I S D AY

FOREIGN DESK

TALIBAN MILITANTS WHIP WOMEN PROTESTING AGAINST ALL-MALE GOVT Compiled by Bayo Akinloye

aliban fighters used whips and sticks against a group of women protesting in Kabul on Wednesday following the announcement of a hardline, male-only interim government, in the group’s latest crackdown on dissent in Afghanistan, CNN reports. Videos and images received by CNN show the women chanting, “Long live the women of Afghanistan.” Some held placards declaring, “No government can deny the presence of women” and “I will sing freedom over and over.” Others held placards with the image of a pregnant police officer who was killed in Ghor province a few days ago. The Taliban told CNN they were not involved in her death, but have subsequently launched an investigation. The fighters also beat a number of journalists covering the demonstration, according to witnesses. This is just the latest case of female activists making a bold and public challenge to the Taliban’s rule. Women in hijabs joined protests in Kabul on Tuesday, the largest since the militant group seized power last month. A small group of women demonstrators also took to the streets of the Afghan capital over the weekend to demand equal rights, one of at least three small protests across the country last week.

One woman at Wednesday’s protest said: “We have gathered here to protest the recent announcement of the government where there are no women representation within this government.” She said a few of the protesters were “hit with whips and they tell us to go to our homes and recognize and accept the Emirate. Why should we accept the Emirate while no inclusion or rights have been given to us?” As she spoke, she held a poster saying: “A cabinet without women is a loser, a loser.”

FIRE KILLS 41 INMATES AT INDONESIAN PRISON

At least 41 inmates at an Indonesian prison are dead after a fire broke out in the overcrowded facility early Wednesday morning. A spokesperson for Indonesia’s justice ministry said the blaze started in Block C of Tangerang prison, located on the outskirts of the capital, Jakarta. Rika Aprianti said the fire was extinguished after several hours. At least 80 prisoners were injured, including eight who were transported to a hospital in Tangerang. More than 2,000 inmates are housed at Tangerang prison, which was built to hold just 600, with 122 inmates housed in Block C. Aprianti said the cause of the deadly fire is under investigation.

120 KILLED IN ETHIOPIA’S AMHARA REGION

Doctors and local officials have said more than 120 civilians were massacred in Ethiopia’s Amhara region earlier this month, but forces from neighbouring Tigray rejected allegations they were responsible. The killings in Chenna village, near the town of Dabat, took place in

early September, according to Sewnet Wubalem, the local administrator in Dabat, and Chalachew Dagnew, spokesperson of the nearby city of Gondar told the Reuters news agency on Wednesday. “So far we have recovered 120 bodies. They were all innocent farmers. But we think the number might be higher. There are people who are missing,” Sewnet said. Mulugeta Melesa, head of the hospital

T H I S D AY ˾ THURSDAY, SEPTEMBER 9, 2021

FOREIGN DESK in Dabat, told the AFP news agency, “There were 125 dead in Chenna village … I saw the mass grave myself.” Mulugeta added that residents were “still searching for dead bodies around the area and counting is still going on”. Chalachew, the Gondar city spokesperson, also said he had visited the burial area in the village and that children, women, and elderly were among the dead. He was quoted by Reuters as saying the killings were during the Tigrayan forces’ “short presence” in the area, and it was now under the control of the Ethiopian federal army. The accounts could not be independently verified. The Tigrayan forces later issued a statement rejecting what they called a “fabricated allegation” by the Amhara regional government and denying any involvement in the killing of civilians. “We categorically reject claims of our forces’ involvement in the killing of civilians,” said the statement, which was posted by spokesman Getachew Reda on Twitter. It also called for “an independent investigation into all atrocities” in the region.

WE’RE WATCHING TALIBAN GOVT CLOSELY, SAYS U.S.

PARIS BEGINS TRIAL OF 2015 TERROR ATTACKERS Twenty people linked to the November 2015 terrorist attacks in France went on trial in Paris Wednesday in proceedings expected to last nine months. Six defendants are being charged in absentia. Reports say five of the six are presumed dead in Iraq or Syria. Nine Islamic State terrorists, mostly from France and Belgium, left a trail of horror in a multi-pronged attack at the national stadium, various bars and restaurants, and at a concert at the Bataclan Theater. A total of 130 people were killed, 90 of them at the concert hall. At least 490 people were injured. A 10th member of the terror cell and the only one still alive, Salah Abdeslam, was arrested in Brussels four months after the November 13, 2015, strikes. He is accused of helping the others. In his court appearance, Abdeslam, 31, called himself an The United States says it is assessing the Taliban’s announcement of a caretaker government in Afghanistan and has “made clear our expectation that the Afghan people deserve an inclusive government.” “We will continue to hold the Taliban to their commitments to allow safe passage for foreign nationals and Afghans with travel documents, including permitting flights currently ready to fly out of Afghanistan to agreed-upon onward destinations,” a State Department spokesperson told VOA Tuesday. “We also reiterate our clear expectation that the Taliban ensure that Afghan soil is not used to threaten any other countries and allow humanitarian access in support of the Afghan people. The world is watching closely.” The Taliban announced Tuesday a “caretaker” Islamic government, saying it will be headed by Mullah Hasan Akhund, a close associate of the Islamist movement’s late founder Mullah Omar. The announcement came a day after the Taliban declared they had conquered the northern province of Panjshir, ending the only armed resistance to their rule in the conflict-torn country. While sharing details of the caretaker cabinet at a news conference in Kabul, Taliban chief spokesperson Zabihullah Mujahid said that all the appointments

were in an acting capacity and that the heads of various other ministries will be appointed soon.

I APOLOGISE FOR FLEEING, ALLOWING TALIBAN TAKE OVER – EX-AFGHAN PRESIDENT

Afghanistan’s former President Ashraf Ghani has said it was never his intent to “abandon the people” as he apologised to Afghans for the way his rule came to an end when he fled the country last month on the same day the Taliban entered the capital, Kabul, Aljazeera reports. In a statement published on Twitter on Wednesday, Ghani said he left on August 15 at the urging of the palace security to avoid the risk of bloody street fighting, and again denied stealing millions from the treasury. “Leaving Kabul was the most difficult decision of my life, but I believed it was the only way to keep the guns silent and save Kabul and her 6 million citizens,” he said. Ghani took the opportunity to deny the claims that he had taken millions of dollars out of the country when he fled, even saying that he was ready to be investigated to prove his innocence. The claims originated with a former

“Islamic State soldier.” When asked what his profession was, he said, “I gave up my job to become an Islamic State soldier.” Even though most of the alleged perpetrators are dead, some hope the trial will bring closure to the families of the victims. “This trial is really an important step for the victims, those who have been wounded or injured, and those who lost members of their families,” Michael Dantinne, professor of criminology at the University of Liege, told France 24. He added that “it is only a step in the recovery process of the victims” and that “it won’t have any magical effect.” The trial is being held in a specially constructed court in Paris and described as the biggest in France’s modern-day legal history.

Afghan ambassador to neighbouring Tajikistan, Zahir Aghbar, who alleged Ghani took about $169m with him when he left the country. Ghani, who is currently in Abu Dhabi, lamented that, like his predecessors, he too had been unable to bring peace

and prosperity to the war-torn country. “It is with a deep and profound regret that my own chapter ended in a similar tragedy to my predecessors,” he said. “I apologize to the Afghan people that I could not make it end differently.”

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

FORTY-EIGHT FIRS: WHY WE ARE AGAINST STATES’ COLLECTION OF VAT 1999 Constitution. The development followed rising agitation by some states to collect and utilise proceeds of consumption tax, after Rivers State secured victory in court on the matter. Notwithstanding, the Rivers State government announced the commencement of full implementation of its VAT law. Also yesterday, the Rivers State governor, Nyesom Wike, alleged that he had been informed that some people in government are scheming to move the appeal hearing from the Court of Appeal in Port Harcourt, to the Court of Appeal in Abuja in the hope of securing a stay of execution of the judgment. He stated this when THISDAY contacted him for a reaction to the alleged plan. "Well, I heard about the development while attending the Peoples Democratic Party (PDP) meeting in Abuja. “I was told that the FIRS is working to move the appeal to Abuja, but I have not confirmed whether it is true or not. But let it be known that I am standing on the principle of justice and constitutionalism. What I feel is that the right thing should be done. Whether they want to hear the appeal in Kafanchan or in America, let the law take its course. “I believe the right thing must be done at the right time. This country must move forward and justice must be done. This is an issue of constitutionalism, it's not about Wike,” the governor declared. THISDAY also learnt yesterday that the Lagos and Ekiti State governments, have concluded plans to file application to be joined in the ongoing legal battle between the FIRS and Rivers. Just like the Rivers State government, which recently enacted its

VAT Law 2021 to regulate the effective administration of VAT in the state, Lagos and Ekiti states have taken steps to enact similar laws on VAT collection. THISDAY learnt that some southern states were equally in the process of enacting laws in a bid to start collecting VAT. On its part, FIRS has maintained that the decision of the Federal High Court to grant powers to states to administer VAT could be counterproductive. The Group Lead, Special Operations Group, FIRS, Mathew Gbonjubola, insisted that there was nowhere in the world, where the administration of VAT was done at the sub-national level, adding that the service cannot afford to devolve such powers to states. Speaking during a media briefing, he said contrary to speculations, the FIRS administers the consumption tax on behalf of the three tiers of government and not for the federal government alone. He added that revenue from VAT was administered under an arrangement that allows the federal government to collect 15 per cent, states 50 per cent, and local government 35 per cent. He pointed out that the existing arrangement allowed states and local governments to take about 85 per cent of VAT proceeds. Gbonjubola stated: "The VAT is not paid to the federation account but to VAT pool account for distribution to the three tiers of government. It is after the sharing that the portion of the federal government is paid to the Consolidated Revenue Fund Account. "VAT works only at a national level but not at a sub-national level. There is no country in the world where VAT works at the sub-national level." He said the VAT Act differentiated between the Input and Output

VAT, explaining that in the former, tax is paid to suppliers on the purchase of taxable goods and services, while output VAT is the tax received from customers on the value of taxable goods and services sold or rendered. Gbonjubola further explained that the VAT Act allowed taxpayers to offset their input VAT (Allowable Input VAT) against their output VAT, to the extent that such input VAT only related to such goods that were purchased or imported for resale or form the taxpayers’ stock-in-trade used for the production of new products on which output VAT would be charged. He said where the output VAT exceeded the recoverable input VAT; the taxpayer was expected to remit the excess to the FIRS. In the instance where the input VAT exceeded the output VAT, he explained that taxpayer would be entitled to a refund of the excess after following the due process as contained in the FIRS Establishment Act. But with the decision of some states to go ahead with the implementation of the court judgement, Gbonjubola said such refund might not be possible, because the administration of VAT would be done by different tax authorities in the states. His words, “As to the incidence of VAT, VAT is practiced on an input and output mechanism. What it means is that for a business either importing or buying products, that business will pay VAT either at the port if it is importing or with the manufacturer if it is buying from a local manufacturer. “And when that business pays VAT, it is accounted for that business as an input tax, such that if it begins to sell in any part of Nigeria, and charges VAT from its own customers, it is able to rescue

the importers payment either by port if it is an imported item or to the manufacturer if it was obtained from local producers. “And this works only at the national level, VAT can’t work at the sub-national level and there is no country in the world where VAT works at a sub-national level. This is because the VAT depends on the input-output mechanism “For instance, if a business person buys an item in Osun State and paid VAT, takes the goods to Sokoto State to sell, remember this business person had paid VAT when purchasing the product in Osun State. “So, when selling in Sokoto State, he will be charged VAT and by the operation of the input-output mechanism, this business person will deduct the input VAT payment in Osun state, from the output charged in Sokoto State, and remit any difference to the relevant tax authorities, in this case because there is a single tax authority handling VAT, it is the same authority that will receive the VAT in Osun and Sokoto states. “It is easy to work out the inputoutput mechanism, businesses won’t be short-changed; there is no issue of consumers having to pay VAT more than once. “However, if this is operating at a sub-national level, it will mean that when businesses are paying VAT at the state level, the business would have to pay VAT twice in two different states.”

FIRS Seeks to Move VAT to Exclusive Legislative List

To stem the agitations by state governments to be the ones to collect VAT, the FIRS had written a letter, dated July 1, to the National Assembly for the sponsorship of a bill to amend the 1999 Constitution and place VAT administration on

REPORT: TERRORISTS LAUNCHED 500 ATTACKS ON MNJTF, KILLED 2,368 SOLDIERS USING STATE WEAPONS The paper presented by a Researcher and Director, S4 Initiative (Safeguarding Security Sector Stockpiles) based in Borex, Switzerland, Mr Eric Berman, titled: "The Management of Lethal Materiel in Conflict Settings: Existing Challenges and Opportunities for the European Peace Facility", said lethal weapons including small and light arms seized from the military bases during attacks by terrorists, sustained the 12-year insurgency in Nigeria and the Lake Chad region. While the report cited corruption and diminished morale as being largely responsible for loss of equipment, the Defence Headquarters (DHQ) has however said the Armed Forces of Nigeria were winning the war against insurgency in all the theatres of operations, including the North East and the North West regions sof the country. Defence Spokesman, Maj. Gen. Olufemi Sawyerr, said the fact that thousands of insurgents were surrendering with their families and laying down their arms, was an indication that government was winning the war against insurgency, adding that the act of surrender wasalso a sign of victory for the nation. But the research paper claimed that between 2015 and 2020, some 2,368 "uniformed personnel fatalities were recorded", stressing also that the insurgents launched 500 attacks on MNJTF bases within a six-year period, where no fewer than 2,368 military personnel were killed. A breakdown of the figure showed that Nigeria recorded 1,952 fatalities while Chad recorded 217; Niger, 132 and Cameroon 67. Further, the figures showed that Nigeria lost 134 personnel in 2015, 157 in 2016, 171 in 2017, 425 in 2018, 642 in 2019 and 423 in 2020. The report said Chad recorded loss of one soldier in 2015, four in 2016, nine in 2017, zero in 2018, 34 in 2019 and 169 in 2020. Niger, however, recorded 14, 2015; 57, 2016; zero, 2017; 19, 2019; 22, 2019 and 20, 2020. Cameroon recorded the death of 36 personnel

in 2015, nine, in 2016, one in 2017, zero in 2018, 21 in 2019 and zero in 2020. Yearly totals within the period under review showed that the four troop-contributing member nations – Nigeria, Chad, Niger and Cameroon – lost 185 personnel in 2015, 227 in 2016, 181, 2017; 444, 2018, 719, 2019 and 612 in 2020. "Official data concerning attacks on security sector personnel is difficult to obtain, but reports suggest that more than 2,000 uniformed security sector personnel have died in the conflict. "As alarming as these numbers are, they likely under-estimate the true scale and scope of the losses incurred concerning the security personnel of the four Lake Chad Basin countries. "A memorial to fallen comrades since 2013 at the headquarters of the Nigerian military’s operations in Northeast Nigeria had in 2018 listed the names of more than 1,300 soldiers inscribed on it," it said. An estimated 600 soldiers lost their lives in attacks by Boko Haram and died within a six month period in 2018 alone," the report stated, citing research authorities. More than 100 Cameroonian soldiers lost their lives in attacks by Boko Haram in 2014 and 2015, even as three separate attacks on police targets in N’Djamena in June 2015, resulted in more than 100 casualties, including dozens of deaths, many of whom were members of the police. The report also detailed reasons why weapons are lost to insurgents. "The loss of materiel as a direct consequence of these attacks is substantial. A gun truck, fitted with a machine gun will frequently transport several tins of linked cartridges totalling hundreds of rounds of ammunition. Sometimes substantial quantities of weaponry kept at the base as reserves can be taken from military positions the insurgents had themselves attacked. "When a base is overrun, crew-served weaponry such as machine guns, mortars and towed artillery" are carted away, "yet,

a lot of that materiel is in good enough condition to be of use to the militants," it said. Contingent-owned equipment secured through seizure from regional security forces likely dwarfs materiel check points, forward operating bases, “Super Camps" and sector headquarters," it said. The research paper also cited as reasons for the loss of personnel and materiel, "insufficient quality and quantity of both lethal and non-lethal materiel for the security sector" and ammunition, as well as “tanks only firing twice, armoured personnel carriers running for 10 to 15 from boots to tanks”, and has compiled a number of soldiers’ grievances about insufficient body armour minutes before overheating, machine guns jamming, and mortar shells failing to detonate. "These long-standing issue summarises the scope of the problem in Nigeria, “ranging concerns are not based on anecdotal accounts. They are systemic", it said, citing research authorities, "A similar situation affected Cameroonian security forces’ early efforts against Boko Haram." Berman, also citing research works, said, "Corruption goes a long way to explaining why equipment is lacking. It is endemic within Nigerian society to implicitly accuse the military of purposely prolonging the conflict for their own ends and current President Muhammadu Buhari, acknowledged this, pledging to counter it as a central part against entrenched corruption within the military, ranging from extortion at checkpoints of his first presidential campaign in 2015. "But the challenge facing the country is enormous and progress has been slow and uneven. Malfeasance within the defence sector is by no means limited to Nigeria. It is a problem throughout much of the world, including elsewhere in the sub-region," it explained. The report also found that the regional response to the “Boko Haram” conflict underscored both

the need for EU support—for example through the provision of lethal materiel and training via European Peace Facility (EPF) and the assessment of risks inherent in any kind of engagement. "The levels of loss of uniformed personnel and lethal materiel from state stockpiles in the Lake Chad region are astonishingly high. In six years (between 2015 and 2020) several times as many uniformed personnel serving in and alongside the Multinational Joint Task Force were killed due to ‘malicious acts’ than those, who have served in UN peacekeeping operations over a span of more than 70 years. "Reporting suggests that Boko Haram factions have seized Contingent-owned Equipment (COE) that includes a wide-range of heavy weapon systems. Some of the armoured vehicles and towed artillery lost to Boko Haram originated from EU member states. The quantity of small arms and light weapons—many of which also were manufactured in the EU—is so great that it has sustained the insurgency for over a decade," Berman said. The report, therefore, recommended EU's further engagement with the African Union (AU) and the ECOWAS in addressing issues raised by the report. These notwithstanding, Maj. Gen Sawyerr, the defence spokesman, who was not comfortable with the report, told THISDAY that the Armed Forces of Nigeria were winning the war against insurgency and armed banditry. "We are winning the war in the North East and North West and the terrorists are surrendering in large numbers. Why is it that it is now that we are clearly winning the war that such report is coming up to drag us back. We are winning the war and thousands of them are surrendering with their families. What else are we saying?" he queried. MNJTF's Director of Public Communication, Col Muhammed Dole, was yet to respond to questions about the report billed for presentation today as at the time of filling this report.

the Exclusive Legislative List, as well as establish a Federal Revenue Court (FRC) to sit over tax-related disputes. The letter was written by its Executive Chairman, Mr. Muhammad Nami, to Deputy Speaker, House of Representatives, Hon. Idris Wase, who also doubles as Chairman, Special Committee on Review of the Constitution. In the letter titled, "Request for Sponsorship of a Bill for the Establishment of the Proposed Federal Revenue Court of Nigeria and the Insertion of Value Added Tax Under Item 68 of the Exclusive Legislative List," was dated July 1, 2021. The letter was written to the National Assembly while the FIRS was still contesting a suit filed on the collection by Rivers State. Nami had highlighted the increasing pushback by states to collect and retain the VAT proceeds in their respective states. Specifically, the FIRS proposed the insertion of VAT immediately after Stamp Duties item 58 Part II, 2nd schedule of the 1999 Constitution, as amended. It expressed concerns that the number of tax cases was increasing annually at both the Federal High Court and the Tax Appeal Tribunal As a result, Nami said there was an urgent need to establish FRC to speed up the resolution of the tax disputes. In the letter, the FIRS is pointedly proposing an amendment of Section 251 (1)(1b) of the 1999 Constitution, as amended, by removing the exclusive jurisdiction of the Federal High Court only on anything connected or related to federal tax matters since same would be vested on the proposed FRC. He said the exclusive jurisdiction of the proposed FRC shall include adjudication of tax disputes arising or connected to the federal tax laws, including Company Income Tax Act (CITA), Petroleum Profit Tax

Act (PPTA), Personal Income Tax Act (PITA), Capital Gains Tax Act (CGTA), STAMP Duty Act (SDA), Value Added Tax Act (VATA) and Taxed and Levies (Approved list for collection) Act as well as other laws, regulations, proclamation, government notices or rules related to these Acts. In addition, the FIRS proposed for the insertion of Section 254G to 254L in the 1999 Constitution to provide for the establishment of the FRC, the appointment of Chief Judge for the proposed court, power to make rules for the proceedings of the FRC and the appointment of judges of the court as well as craving for the exclusive jurisdiction of FRC on federal tax matters. The service boss said the proposed court would among other things provide both the tax authority and taxpayers a platform for quick resolution of tax disputes and invariably increase tax revenue generation for the federal government. Nami also said though the judges of the Federal High Court that presently handled tax matters were well grounded in the general practice of laws in the country, there was need for tax matters to be handled by individuals with cognate experience in taxation and tax practices for effective adjudication of tax disputes in Nigeria. According to him, "Tax disputes are one of the fundamental factors that impede tax revenue generation in Nigeria, hence the need to establish a globally accepted practice of mechanisms for tax dispute resolution in Nigeria." He pointed out, “The number of tax dispute cases are increasing yearly at both the Federal High Court and the Tax Appeal Tribunal. There is, therefore, an urgent need for the establishment of the Federal Revenue Court to speed up the Continued on page 49

NNPC’S ASSETS RISE BY 18.7% AS CORPORATION PUBLISHES 2020 AUDITED RESULTS cent within the same period. In addition, the group's working capital remained below the line at N4.56 trillion in 2020, as against N4.44 trillion in 2019, while the corporation’s group revenue for the 2020 financial year stood at N3.718 trillion as against N4.634 trillion in 2019. According to the national oil company, the decrease in the group’s revenue could be attributed to the decline in production and price of crude oil due to global impact of Covid-19. The corporation first published its AFS last year, the first being for 2018 and the second dealing was on its activities for 2019. But the NNPC’s independent auditors, namely PriceWaterhouse Coopers (PwC), SIAO Partners and Muhtari Dangana & Co, drew attention to a section of the document which indicated that the corporation’s liabilities still outstripped its assets. The auditors stressed that though the NNPC announced a profit of N287 billion, but the large discrepancy between assets and liabilities cast some uncertainty on the corporation’s operations. “We draw attention to note 42 of the consolidated and separate financial statements, which indicates that the group recorded a net profit of N287.2 billion (Corporation: N235.3 billion) during the year ended 31 December 2020 and, as at that date, the group's current liabilities exceeded its current assets by N4.6 trillion (Corporation: N729.1 billion). “As stated in note 42, these events or conditions, along with other matters as set forth in note 42, indicate that a material uncertainty exists that may cast significant doubt on the group and corporation’s ability to continue as a going concern. Our opinion is not modified in respect of this matter,” they noted. The newly released AFS also indicated that the NNPC recorded

a profit before tax of N719 billion in 2020, compared with N93 billion loss in 2019, and a total comprehensive income of N655 billion compared to a loss of N20.1 billion last year. The financial statement was signed by the Group Managing Director of the corporation and the Chief Financial Officer, Mallam Mele Kyari and Mr Umar Ajiya respectively and was dated September 3. However, despite their misgivings, the auditors stated that records showed an improvement from prior year based on several group improvement efforts put in place by management, including elimination of the cost drivers responsible for the accumulation of the shortfalls in settling domestic crude obligation to Federation Account. The auditors further acknowledged the introduction of the Price Modulator mechanism in the Petroleum Products Pricing Regulatory Agency (PPPRA) template designed to eliminate the major cause of the losses as well as minimising the breaches to pipeline networks. Under the Petroleum Industry Act (PIA), they projected that the NNPC when given the autonomy, would operate profitably, noting that the recapitalisation of the corporation would enable the resolution of all outstanding related party payables and receivables to enable NNPC start on a clean slate. Kyari had while explaining how the NNPC arrived at the profit, attributed it to aggressive cost cutting, automation of the NNPC system and renegotiation of contracts downwards by about 30 per cent, among other tough measures. During the year, the NNPC said it donated a total sum of N3.6 billion and N9 million respectively to various charitable organisations, higher education institutions and other organisation, while no donation was made to any political party.

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

MARKING 150TH MILESTONE... L-R: Consul General, Kingdom of Netherlands, Mr. Michel Deelen; Lagos State Deputy Governor, Dr. Kadri Obafemi Hamzat; Managing Director, Friesland Campina WAMCO Nigeria Plc., Mr. Ben Langat and Lagos State Commissioner for Finance, Dr. Rabiu Olowo, at the 150th anniversary celebration of Royal Friesland Campina held at Ikeja-Lagos... yesterday

Kogi:EFCCNowToolofOppression,OppositionPartiesTellBuhari Some opposition political parties in the country have criticised the Economic and Financial Crimes Commission (EFCC) for allegedly politicising anti-graft war and allowing itself to be used to intimidate some politicians within and outside the ruling All Progressives Congress (APC). Reacting to the recent faceoff between the Kogi State Government and the EFCC over an alleged N20 billion Kogi State Salary bail-out account at Sterling Bank that was purportedly frozen by the court, the parties accused the EFCC of chasing an agenda and being used by some APC henchmen to label some politicians as corrupt through unverified cases. Addressing a media briefing at Awka, Anambra State, on behalf of Allied Political Parties for Good Governance and Building Nigeria Legacy, the National Chairman of the

African Democratic Congress (ADC), Ralph Okey Nwosu, canvassed the need for President Buhari to call the leadership of the anti-graft agency to order, stressing that the agency had become a tool of oppression. Nwosu said, "EFCC and other agencies of government must learn to focus on their jobs and stay away from politicians; extricate themselves from politics and begin to function as preventive organisations. Brinkmanship is destructive of government establishments and institutions. "A stich in time saves nine. Mr. President and the Presidency should be concerned with the history Buhari leaves as he finishes his tenure." Nwosu argued that the EFCC had wanted to rubbish Kogi State government but for the prompt opening and explanation of the state government.

While commending the state government on its transparent rebuttal, Nwosu asked the EFCC to desist from tarnishing the image of perceived enemies with, "unverified cases." He said, "Matters involving a commercial bank and a state government can be effectively investigated if the purpose is noble without such public exacerbation and politicking. “If not for their prompt response, and opening its door instantly, the government of Kogi State will have been rubbished which I believe was the intention. "Apparently, some people feel very uncomfortable with the World Bank letter released a few weeks ago that was reported in many newspapers commending the Governor of Kogi State for refunding $4.63 million surplus funds under the Nigeria Erosion and Watershed Management project (NEWMAP); and his

Ayade: C’River’s 140-Bed Hospital Will Be Africa’s Reference Point Cross River State Governor, Ben Ayade, has said the state’s 140-bed specialist hospital,which is at an advanced stage of completion in Obudu, would be a reference point in Africa. Ayade, who was in Obudu to inspect work progress at the ultra-moderm hospital, said given the reputation of the partners involved, Siemens and Coscharis, it would no doubt be a touchstone in quality healthcare in Africa. "This is Siemens hospital basically. Siemens is number one in hospital equipment. Even in American hospitals, they have more of Siemens equipment, so we are convinced that our MRI, CT scan, radiology, diagnostics and dialysis equipment will be world-class," he said. He said he was convinced the hospital would be first-class especially, given that it wouldhave its own plant to produce oxygen, even as he disclosed that the hospital would have “a special covid-19 unit that would cater to covid-19 patients in a special way with oxygen fully generated from within the system." The hospital is also fitted with a solar power system to guarantee 24-hour power supply, thus not dependent on the national grid. On the hospital's bed capacity, the governor quipped: "We have a total of 120 beds, plus

an additional 20 for those, who are going into the recovery phase. So, we are going to have a total of 140 beds hospital. Massive! "So, I am very excited this hospital will be the reference hospital for Africa, not just Nigeria. Before we took this design, we had studied all the hospitals in Nigeria in terms of all the critical equipment, even in Abuja, both public and private hospitals. We are convinced that the level of sophistication will be unmatched. “Our dispensary unit has an outdoor station, you drive through, sit in your car and a robot delivers your drugs to you. You swipe your card, get your drugs and you are gone without any human interference. The human element is our secondary phase, should the robotic services fail you. “We also have a partnership with a German firm for drug revolving programme and also with Canadian team to support us with drugs. Of course, Cross River State has a pharmaceutical company. So, we will also be producing drugs as a state. The hospital will also buy drugs from the Calapharm. I think the circle is completely proper and the social benefit is unquantifiable, it’s a thing of joy to me.” On staffing, the governor

disclosed that a team would be sent to Germany for massive training, six months to commissioning. “We have a lot of Cross River doctors, who will be sent to Germany for training to come back here, because this is actually Cross-German hospital, a partnership between Cross River State government and Siemens under the catalysis of Coscharis. Our excitement is actually bringing the best hospital in Africa to Obudu." Ayade gave reasons why the hospital was sited in Obudu, because the axis was lacking in terms of medical care. “Abuja is quite extremely out there, Lagos is far out there. And because we are building an international airport here and because Obudu Ranch Resort is a tourist attraction, we have high level, high profile citizens, who will be coming on tourism here. “The British Canadian University will be taking very elitist students, so we would not want any challenges. We will need a hospital that can provide for these primary footfalls that will serve as the initial base of patronage. I see Benue, Ebonyi, Cross River and some of the South South states coming here, because of the sophisticated level of equipment we will have here."

recent report card as the best state in women and youths mainstreaming into government," the political parties said. Nwosu stressed that he had

never met Governor Bello, but noted that he had shown capacity for inclusion. "The recent world reports on his inclusive leadership and the

boldness and transparency with which the state has confronted the recent EFCC perfidy should endear him to good men and women in APC," he noted.

FIRS: WHY WE ARE AGAINST STATES’ COLLECTION OF VAT resolution of these tax disputes.” He argued that the success stories of the tax appeal tribunals could be replicated better and more effectively if the FRC was established. Nami stated that there were currently over 156 disputed tax liability cases across the six geopolitical zones, valued at over N379.43 billion, including $3.38 billion and €800,500.00. The service said it intended to take advantage of the on-going constitution amendment exercise to realise its objectives.

Rivers Commences Implementation of VAT Law

Wike raised the alarm over underhand moves by the federal government to move the appeal it had filed on the VAT matter from the Court of Appeal in Port Harcourt to the appeal court in Abuja, where the government hoped it could mount pressure on the appellate court to win a stay of execution of the judgement. The governor, who disclosed this to THISDAY, said he was informed of the development while attending a Peoples Democratic Party (PDP) meeting in Abuja, yesterday. Wike stated, “I was told the FIRS is working to move the appeal to Abuja, but I have not confirmed whether it is true or not. But let it be known that I am standing on the principle of justice and constitutionalism. What I feel is that the right thing should be done. Whether they want to hear it in Kafanchan or America, let the law take its course. “Today, it is my turn, it can be another person’s turn tomorrow. I believe the right thing must be done at the right time. This country must move forward and justice must be done. This is an issue of constitutionalism.” THISDAY also learnt yesterday that the governments of Lagos and Ekiti states had concluded plans to file applications to be joined in the on-going legal battle between the FIRS and Rivers. But in spite of the controversy the VAT issue has generated, Rivers State, yesterday, said it had commenced full implementation of its VAT Law. Wike made this known yesterday during an interactive session with representatives of corporate organisations in Port Harcourt.

Wike said the enforcement would prevent members of the business community from falling prey to the antics that could be deployed by FIRS officials, whom he said could attempt to use force to collect “what does not belong to them.” Wike alleged that FIRS had in the past collected VAT in the state with impunity, knowing it was unconstitutional for them to do so. He pointed out that his administration challenged the matter at a Federal High Court in Port Harcourt, where it secured a positive judgement on the matter. The governor said, "When we challenged the federal government, through the Office of the AttorneyGeneral, and FIRS in court, do you know what they did? They wrote a letter dated July 1, 2021. Remember, it was in 2020 that we filed this action against them. But see how corrupt this country is. "Corruption is not only about kickbacks, it is also about doing something illegally. We were in court in 2020. Then on July 1, 2021, the chairman of FIRS wrote to the National Assembly through the office of the Deputy Speaker of the House of Representatives. "He was asking them to amend the constitution and insert VAT under item 58 of the Exclusive Legislative List, when we were already challenging that it is not their responsibility to collect VAT. They knew that what they were doing was not the right thing." He described as unfortunate the allegation that the FIRS had resorted to writing threat letters to intimidate corporate organisation to pay VAT to the federal agency even after they had lost an appeal that sought a stay-of-execution of the declarative ruling on VAT collection in the state. Wike urged business operators to be ready to pay VAT for the month of September 2021 and subsequent months to the Rivers State Internal Revenue Service. He said he had already assented to the Rivers State VAT law passed by the State House of Assembly. The governor warned corporate organisations not to feign ignorance of the state VAT law and declared that the government would not hesitate to seal up the premises of any company that defaulted. "We are going to inaugurate the Tax Appeal Commission by Friday,

which will be headed by a retired judge of the state," Wike hinted, calling the disparity in VAT proceeds and what is given to the states as an inexplicable form of injustice that weakened the performance potential of the states. He explained, "Let me tell you the injustice in this country. In the month of June 2021, which we shared in July, VAT collected in Rivers State was N15.1billion. What they gave us was N4.7 billion. See the gross injustice, and the money includes contracts awarded by the Rivers State Government. "This is not an issue of party, it is the issue of infraction of the constitution, issues of illegality. Look at Lagos, it is not the same party with me. In the month of June 2021, the VAT collected in Lagos was N46.4 billion but see what Lagos got – N9.3 billion. “Have you seen the injustice in the country? VAT collected in Kano was N2. 8 billion and they gave them N2. 8billion. Is there justice in this country?” Wike described as morally offensive a situation where Rivers State government would award contracts for state roads worth N200 billion and the FIRS would allegedly receive 7.5 per cent of the amount as VAT to be distributed among the states. “So, you allow me to call the big companies, award contracts to them, then you, FIRS, come and collect the tax and then go and distribute it to other states, who are not awarding contracts. How does it sound,” he asked. The governor said nobody had been courageous enough to challenge the alleged illegality perpetrated by the FIRS, saying history would be kind to Rivers State to have mustered the courage to speak out and also challenge it. "I overheard the FIRS chairman saying I'll soon know the power of the federal government,” Wike stated. He added, “And that they'll show me that they have the power to muzzle the judiciary. You can muzzle them as you want. Let the Court of Appeal and Supreme Court interpret the law so that all of us will go and rest. "Use all the power you want to use, but history will be written one day and those who will allow themselves to be used to muzzle and misinterpret the law will face God one day.”

T H I S D AY ˾ THURSDAY, SEPTEMBER 9, 2021

TRIBUTE

MARWA: A BIRTHDAY TRIBUTE TO AN ENIGMA Femi Babafemi

he danger of writing a tribute to any high profile personality in Nigeria today is obvious: the writer runs the risk of being misrepresented as a political praise singer, or at times, time and tide can cast him as a bootlicker, especially, if the subject of his adulation suffers a reversal of fortune, materially or reputationwise. But with Brig. Gen. Mohamed Buba Marwa (Retd), OFR, you can safely write an eulogy because, you can be sure that ten years later, his stock will remain bullish. So, as he clocks 68 today, September 9, 2021, any piece of writing about him is no piece of sophistry because Marwa has been as constant as the Northern Star in the affairs of leadership, as he is presently exhibiting as the Chairman and Chief Executive of the National Drug Law Enforcement Agency, NDLEA, where his exploits are making leadership such a fine art that gladdens the hearts of many Nigerians and international partners in this unending season of anomie. Indeed, to those who know him up close and personal, Marwa is an enigma: humble, self-effacing, industrious, practical, efficient by nature, diligent, always thinking about things he needs to accomplish or how to get ahead on his next assignment, a complete Virgo, if you care to assess him by his Zodiac sign. But in plain terms, he is a case of a man who set out to always make a difference wherever he found himself. Not the kind of difference other men pursue to grandstand, but the type that impacts humanity and makes life easier for people. And of this, his track record is unassailable. A look back at his trajectory gives a chronicle of exemplary service to the country and a profile

of pure patriotism from an individual. He could have chosen to live his life as an ordinary soldier, or at best be content with his name in the history book as one of the ‘boys’ of military maximum rulers. But he chose a different road to travel. Borno State remembers him as the military governor who gave them peace and security at a perilous time when rebels from Chad were raiding Nigerian border communities, not unlike the ravage of Boko Haram and bandits across today’s Nigeria. A practical Marwa had shown the necessity of firm action in such grave matters by birthing Operation Yaki, a combined Joint Task Force of military formation, and in few months reined in the Bandidos from across the border, making his territory safe and secure. Lagos State also remembers him as a hero, for bringing sanity, order, peace, progress to an otherwise, chaotic near-dystopic state, groping and groaning under the siege of local and transnational robbers. Col. Marwa solved the Gordian knot with Operation Sweep. Now at the NDLEA, it is too early to talk about the Marwa Revolution, but he has orchestrated a turnaround that signals a rebirth of the anti-narcotic agency at a time when the country needs to escalate its fight against illicit drugs. For Marwans, his exploit did not come as a surprise. Everywhere he has served, he has always left indelible marks and his first six months in the NDLEA has brought the agency from relegation and obscurity to the frontline position that has attracted both local and international partnerships. His leadership at the NDLEA is refreshing to the collective psyche of Nigerians and a loud rebuttal to the tribe of pessimists,

locally and globally, who cling to the odious belief that Nigerians are incapable of effective leadership. Thunder, it is said, doesn’t strike twice; well, in the case of Marwa, it strikes repeatedly. Nigerians used to think the height of his service was Lagos, with what is unreeling in the NDLEA, Marwa’s leadership magnum opus is perhaps yet to come. The cynical assumption that his achievements in Lagos were due to the military ecosystem of the time has fallen flat like a pack of cards with the ongoing transformation of the NDLEA. Out of Khaki, garbed in Babanriga, Marwa has been able to transmit military’s discipline, purpose-driven action and go-getting attitude to the workforce of a paramilitary organisation operating in a laissez-faire society. How he did it, is, again, the stuff of leadership. Yet, if Borno and Lagos seem a distant memory, here before us, is what is fast becoming a locus classicus of leadership, this rejuvenation of NDLEA, which stands in sharp relief against the backdrop of the insecurity in the country. He has been one of President Muhammadu Buhari’s best appointments thus far. Without any doubt, there is a swell in the number of students of the Marwa School of Leadership. The younger generation, who only heard of his exploits of yesteryears are now seeing evidence of management skill, and are paying attention to the lessons therein. Right before their eyes, Marwa is teaching the anatomy of how to make an organisation relevant. Previously, NDLEA was down in the sinkhole of obscurity, but Marwa engineered a resurgence that has seen the Agency basking in the limelight for its record-breaking achievement. 8,634

arrests. 1,630 convictions. Over two million kilograms of drugs seized. Over N100 billion in cash and drugs seized. And the officers and men of the NDLEA are still rearing to go. What magic? No, magic, but a prudent application of management principles from the master of the game. Marwa is also teaching the mechanics of how to win support for a cause as he continues to crisscross the length and breadth of Nigeria talking to communities and their leaders, about the imperative of joining forces to defeat the twin evils of illicit drug abuse and trafficking. And he’s doing a good job at it. Another lesson from him is that thorny problems should be approached with offensive campaigns (like he has done with the War Against Drug Abuse, WADA initiative and Operation Offensive Action), motivated workforces and strategic alliance with critical partners. Today, he stands tall as a colossus, one of Nigeria’s emblems of capable leadership, an amalgam of the best of Harvard education, Nigeria’s military capabilities, and the virtues of a Nigerian. Far removed from the tribal sentiment that is fast gaining root in the country, his cosmopolitan outlook has won him friends from North, West, South and East of Nigeria, and a firm recognition as a one-of-a-kind pan-Nigerian leader. As he clocks 68 today, Nigerians including myself have only prayers, plenty of prayers for him, wishing him many happy returns, and wishing to continue to see him in leadership positions where he can better improve the lot of the citizenry of this country. * Femi Babafemi is NDLEA’s Director of Media & Advocacy

THURSDAY SEPTEMBER 9, 2021 ˾ T H I S D AY

NEWS

Fraudsters Invade Aviation Industry with Fake Recruitment Chinedu Eze

Fraudsters may have invaded the aviation industry and raked in millions of Naira from unsuspecting Nigerians who are made to pay for flight tickets to attend non-existent interviews with airlines, THISDAY investigations have revealed. THISDYAY learnt that fraudsters, who front as airline staff, use phone calls to advertise and invite people to attend interviews after they have paid money into their accounts for tickets and sometimes they send fake e-tickets with Personal Name Recorder (PNR) numbers only for the victim to discover at the check-in counter that his ticket was fake. An eyewitness told THISDAY on Tuesday that he received a call from somebody who introduced himself as Alhaji with phone number 09020325998 (Trucaller identified him as Alhaji Ibrahim) and said that the latest domestic airline, Green Africa Airways was recruiting and he submitted the names of three relatives who were seeking for job. The Alhaji who used the email, esnieenational@gmail. com called again and said that his relatives had been accepted to attend an interview in Lagos

but they must travel to Lagos with the airline, Green Africa Airways and should buy ticket for the flight. He sent this account number: Mrs. Ijeoma S. Emeka, Keystone Bank, account number, 2052283712 (Head of Ticketing

and Reservations, Green Africa Airline), Abuja. The eyewitness told THISDAY that two things struck him that made him suspicious. One, he wondered why the invitation insisted that the candidate must travel to Lagos

with a flight operated by the airline, when he is free to use any means to get to Lagos. Two, he also discovered that the account number given was a personal account, not that of the company, that is, the airline. When THISDAY called the

number, the Alhaji, who refused to fully identify himself, said that the recruitment exercise had ended and cut off the call. Further investigation by THISDAY revealed that many Nigerians had been defrauded in this way and when the

airline, Green Africa Airways was contacted, an official of the airline identified as Toyin, revealed that the company had received a lot of calls about recruitment exercise and said that the company was not recruiting.

BIDDING PA ABIODUN FAREWELL…

L-R: Minister of State for Petroleum Resources, Chief Timipre Sylva; former Ogun State Governor, Mr. Gbenga Daniel; Ogun State Governor, Prince Dapo Abiodun; and another ex-Ogun State Governor, Chief Segun Osoba, at the Service of Songs for the governor’s late father, Pa Emmanuel Abiodun, in Iperu Remo, Ogun State…yesterday

Ruling on VAT, Step to Police Arrest Killers of Dariye’s Father Restructuring, Says Farotimi Kingsley Nwezeh in Abuja

Emma Okonji and Nosa Alekhuogie A renowned lawyer, Dele Farotimi has said he is in full support of the court ruling in Rivers State, which categorically stated that state has the right to collect Value Added Tax (VAT), insisting that such court ruling is a step towards restructuring the country. Just like Rivers State, Lagos State has also come up with a bill to collect tax in the state, instead of the usual Federal Government’s VAT collection through the Federal Inland Revenue Service (FIRS). The Lagos State bill on VAT has scaled through the first and second reading at the Lagos State House of Assembly. In a related development, the former Chairman of Section on Public Interest and

Development Law, Prof. Paul Ananaba, has said the ex-parte orders given by courts on the chairmanship position of the Peoples Democratic Party (PDP), are in order, according to law. Ananaba quoted the Supreme Court, which stated clearly that the ex-parte orders were constitutional. Both Farotimi and Ananaba spoke yesterday on the Morning Show of ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers. Farotimi who condemned the act of federal government collecting VAT, said the problem had always been that the Nigerian state had always been ruled with force and impunity. According to Farotimi, “Lagos State was the first to develop that thermonuclear weapon, which is actually a product of a lie that could not be sustained.

Operatives of the Intelligence Response Unit of the Nigeria Police Force yesterday arrested eight kidnap suspects indicted in police investigations for the abduction and eventual murder of Pa Dariye Dafwan, the late father of former Governor of Plateau State, Chief Joshua Dariye, in Horop community, Bokkos Local Government Area of Plateau State.

Pa Dariye was abducted on June 17, 2020 and shot dead eight days after the criminals collected a ransom of N10 million from the family of the deceased. The arrest of the suspects followed efforts by the police to ensure perpetrators of the dastardly act were arrested and made to face the wrath of the law. Parading the suspects in Abuja, Force Public Relations Officer, Mr Frank Mba, a Commissioner of

Police, said the breakthrough that led to the arrest of the suspects began with the arrest of one Abubakar Mohammed a.k.a Buba, 23, a native of Gada Biyu in Daffo District, Bokkos LGA, Plateau State. He said “Buba is one of the principal suspects in the kidnap operation. The confession of the suspect which revealed how they abducted and murdered the nonagenarian, assisted the police team in apprehending

seven other members of the gang including Ya’u Saidu aka Ya’u Kaban, 40, from Kaban Village, Bokkos LGA, Plateau State, Titus Ezekiel, 34 from from Horop, Bokkos LGA, Dauda Isah, 30, from Horop, Sunday Ibrahim, 35, from Mushere tribe from Horop, Mangut Shumwar, 30, from Horop, Henry Amos, 35, native of Horop, and Jethro Ngusen 57, native of Horop”, he said.

DSS Files Terrorism Charges against Igboho’s Aides The Department of the State Security (DSS), yesterday filed a five-count terrorism charge against two aides of the Yoruba nation agitator, Sunday Adeyemo, also known as Sunday Igboho. The charges marked FHC/ ABJ/CR/305/2021 and dated August 31 was filed on September 1, 2021 at the Federal High Court in Abuja. Defendants in the charges are Jamiu Noah Oyetunji and

a house wife, Mrs. Amudat Habibat Babatunde. The charges, signed by S.M. Bello and M.I. Bennett, indicated that the two defendants and others still at large, on July 1, 2021 at the residence of Sunday Adeniyi Adeyemo, conspired to commit an act of terrorism and unlawful possession of firearms. The two defendants, Jamiu Noah Oyetunji and Mrs Amudat Habibat Babatunde, were

held despite a court order of August 4, 2021, by Justice Obiora Egwuatu of the Federal High Court, Abuja for the release of all the 12 detained associates of Adeyemo arrested by DSS operatives during the July 1, 2021 raid on Adeyemo’s Ibadan home. The charge reads: That you Jamiu Noah Oyetunji, Amudat Habibat Babatunde (adults) with others still at large, on or about the first

day of July, 2021, at the residence of one Sunday Adeniyi Adeyemo (aka Sunday Igboho), located at Soka area of Ibadan, Oyo State within the jurisdiction of this honourable court did conspire to commits acts of terrorism, to wits possession of prohibited fire arms: contrary to Section 17 of Terrorism (Prevention) (Amendment) Act, 2013 and punishable under the same Section of the Act.

Kogi to Benefit from 13% Court Remands Man Who Hid 250kg of Heroine in Anus over by Justice Tijjani Ringim The 34- year- old defendant, Airport, Ikeja, Lagos. Derivation Fund, Says RMAFC Wale Igbintade made the remand order following was alleged to have conspired The prosecutor also told the James Emejo inAbuja The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said Kogi State will start to benefit from the 13 per cent Derivation Fund as soon as proceeds from the operation in Oda River Oil well-1 or Anambra River 1, 2 or 3 Oil wells start contributing to the federation account. RMAFC also revealed that it had started reviewing the Revenue Allocation Formula (RAF) between the federal government and the federating units, as well as the local governments. Kogi State’s eligibility for benefits from the derivation fund was conveyed in a letter addressed to the governor, Alhaji Yahaya

Bello, by the RMAFC. The correspondence, titled, “Re: Request to Declare Kogi State as Oil and Gas Producing State,” was dated August 24, 2021 and signed by Secretary to the commission, Mohammad Shehu. The RMAFC stated that following the governor’s request, dated August 10, 2021, it resolved during its 139th plenary session on July 27, 2021 to approve the attribution of Oda River Oil well-1 to Kogi State. “Furthermore, the commission approved the attribution of Anambra River 1, 2 and 3 oil wells on a 50:50 percentage basis between Anambra and Kogi states pending the final delineation of the boundary between the two states,” the commission added.

A Lagos Federal High Court, yesterday, remanded a 34-yearold Mr. Ezenyeche Kinglet Ebuka, who allegedly inserted wraps of narcotics into his anus in the custody of the Nigeria Correctional Services (NCoS) Ikoyi. The court that was presided

the defendants’ arraignment on a two-count charge of conspiracy and unlawful dealing in the banned substance filed by the Prosecution Counsel from the National Drug Law Enforcement Agency (NDLEA), Mrs. Juliana Imaobong-Iraobuchi, before the court.

with and one Aku, who lived in Pakistan but (now at large). He was arrested with the banned substance on June 14, 2021, during the inward clearance of Turkish Airways from Pakistan through Istanbul at the “D” arrival Hall of the Murtala Mohammed International

court that upon the defendant’s arrest, he excreted some of the banned substance. The offences according to the prosecutor, were contrary to and punishable under section 11(a) and 14 (b) of the NDLEA Act Cap. N30 Laws of the Federation of Nigeria 2004

Abia Embarks on Reconstruction of Ariaria Market Emmanuel Ugwu-Nwogo in Umuahia After overcoming the resistance of traders, the Governor of Abia State, Dr. Okezie Ikpeazu, has finally commenced the reconstruction of the Ariaria International Market, the hub of commercial activities in Aba.

The market, which was built 46 years ago and attracts traders across West Africa and beyond, has been in a state of decay. However, traders, fearful of losing their shops, had been resisting every move by the state government to give the market a face lift that would befit its international status.

But after the “final harmonisation meeting” with the representatives of the traders yesterday, Ikpeazu directed that work should start by midnight on Wednesday. The State Commissioner for Information, Mr. John Okiyi Kalu, announced the breakthrough in a statement made available to

the media in Umuahia, saying that the governor has given the traders every assurance that they would not lose their shops after the reconstruction. Kalu said that the governor directed that the reconstruction work should start from A-Line, C-Line and Medical Line sections of the market.

THURSDAY SEPTEMBER 9, 2021 ˾ T H I S D AY

NEWS XTRA

Miyetti Allah is in Charge of Nigeria, Benue Alleges Calls for immediate arrest of members

George Okoh in Makurdi

The Benue State Government has alleged that the Fulani socio-cultural group, Miyetti Allah Kautal Hore, has taken the full charge of Nigeria, and it’s dictating how the country should be governed. The state also demanded the immediate arrest of members of the association. According to the state Commissioner for Information, Culture and Orientation, Mrs. Ngunan Addingi, while addressing a press conference at the Government House in Makurdi, the state came to the conclusion when “we listened in disbelief how Miyetti Allah openly challenged constituted authorities across various states in Nigeria, demanding, not just the repeal of laws constitutionally enacted by the Houses of Assembly and assented to, but making derogatory statements against state governors who are duly elected by their various states.” She said on September 5, the National Secretary of Miyetti Allah Kautal Hore, Saleh Alhassan, addressed journalists where he made spurious demands, among other things. The commissioner added that the association also asked the National Assembly to stop the implementation of the Open

Grazing Prohibition and Ranches Establishment Law 2017 legally enacted by the Benue State House of Assembly and assented to by the state governor. According to her, “By the 1999 Constitution of the Federal Republic of Nigeria as amended,

states are empowered through their Houses of Assembly to make laws for the good governance of the people. And this is exactly what we did with the ban on open grazing. It is to stop the incessant conflict between farmers and

pastoralists. In fact, the law is a win-win for both farmers and herders. “It is our belief that the loud script on land grabbing for various programmes by the federal government like RUGA, Cattle Colony, Water

Resources Bill, Grazing Routes, Grazing Reserves and now to the proposed 108 farming centres across the senatorial zones in the country as well as the call for the review of the Land Use Act, are programmes aimed at colonizing the country

in favour of Fulani herders. “For us in Benue State, it is unacceptable. We will not be part of that programme. If the federal government has any form of intervention in the agriculture sector, this could be done through the states.”

IMPROVED CORRECTIONAL CENTRE…

L-R: Zonal Coordinator, Zone A, Nigeria Correctional Service (NCoS), Assistant Comptroller General, Lawrence Showumi; Deputy Comptroller General, Tosin Akinrojomu, representing the Comptroller General, NCS, Haliru Nababa; Comptroller, Female Section, Correctional Custodial Centre, Kirikiri, Lagos, Lizzie Ekpendu, and Deputy Comptroller, Correctional, Victoria Uwakwe, during the inauguration of projects at the Female Custodial Centre, Kirikiri in Lagos…recently ABAYOMI AKINYELE

N6bn Captagon Pills APC Using EFCC to Bully Anambra Meant for Bandits, Politicians, ADC Alleges politicians in the state have a coalition of political parties politicians in Anambra State David-Chyddy Eleke in Awka Insurgents, Marwa Alleges The been bullied by the Economic supporting the emergence of to join them, and so far, National Chairman of the and Financial Crimes Commission ADC governorship candidate, politicians in All Progressives Wale Igbintade

The National Drug Law Enforcement Agency (NDLEA) has disclosed that about 18,560 tablets of captagon pills recently intercepted at the Apapa Port in Lagos must have been imported by insurgents and bandits all over the country. This was disclosed yesterday by the Chairman/Chief Executive of the NDLEA, Brigadier General Mohamed Marwa (rtd) at a press conference in Lagos. Marwa said that the 18,560 tablets of captagon worth about N6 billion going by the street value of about $25 per tablet. He also disclosed that one person has been arrested in connection with the drug

stressing that the agency would not rest until every person connected to the shipment is arrested. According to him, this was the first time captagon drug would be brought into any African country south of the Sahara adding that the highly addictive pill, widely available across the Middle East, produces a euphoric intensity in users, allowing them to stay awake for days, making them fearless, predisposes them to reckless action that puts the lives of people around them in jeopardy. Marwa noted that it was the same captagon drug that was found on the phone of the French-Tunisian terrorist who killed 84 civilians in France on Bastille Day in 2016.

‘Why Nigeria Military is Deficient n Hardware’ Laleye Dipo in Minna Funding constraints, diplomatic and other international bureaucratic bottlenecks have been attributed for the nation’s inability to acquire sufficient and modern military hardware for the Nigerian armed forces to fight banditry, kidnapping and other security breaches in the country. The Chief of Army Staff (COAS), Lt. General Farouk Yahaya, disclosed this in a message to the Nigerian Army Research and Development Conference, which was opened in Minna, the Niger State capital, yesterday. The theme of the three-day

conference is: ‘Enhancing NA Joint Operational Effectiveness through Research and Development’. Yahaya, who was represented at the event by the Commander, Training and Doctrine Command (TRADOC) of the Nigerian Army, Major General Stevenson Olabanji, said if the country was to be technologically self-reliant in military hardware acquisition, the country must begin to look onwards. According to him, “If we must be technologically self-reliant as a country, it is imperative that we change our approach and begin to look onwards through a more valuable and rewarding research development.

African Democratic Congress (ADC), Mr. Ralph Okey-Nwosu, has raised the alarm over activities of the All Progressives Congress (APC) in Anambra State, accusing it of coercing politicians in the state to join the party. Nwosu alleged that many

(EFCC) to join the APC, just as many are currently being intimidated to move from their parties to the APC. The national chairman of the party, who briefed journalists in Awka, the state capital, yesterday on the aegis of Allied Parties,

Mr. Akachukwu Nwankpo, warned that the plans of the federal government in Anambra State as regards the governorship election will fail. According to him, “I want to tell the people that APC is using the EFCC to bully

Grand Alliance (APGA) and the People Democratic Party (PDP) have succumbed. We hear that they are still working on many to join them, but this ‘APC-by-force’ slogan can never stand in Anambra State, and their shenanigans must fail.

MTN Spends N72bn to Renew Unified Access, Spectrum Licences

Emma Okonji

MTN Nigeria, yesterday, revealed that it paid N71.6 billion for the renewal of its Spectrum Licence and another N374.6 million for the renewal of its Universal Access Service (UAS) licence for the next 10 years. Both licences amount to over N72 billion, which MTN paid

into the federal government coffers, through its regulator, the Nigerian Communications Commission (NCC). In a letter signed by the telecoms Company’s Secretary, Uto Ukpanah, and sighted by THISDAY, MTN Nigeria expressed happiness that the NCC hads formally notified the telecoms company of the

renewal of its Unified Access Service (UAS) licence and spectrum licence for wireless local loop in the 900MHz and 1800MHz band, subject to licemce conditions, including additional amounts under discussion. The licences, which expired on August 31, 2021, have now been renewed for a further 10 year period, beginning from

September 1, 2021 to August 31, 2031. Commenting on the renewals, the Chief Executive Officer (CEO) of MTN Nigeria, Mr. Karl Toriola , said: “Renewing our licences for another 10 years is very important to our business and enables us to continue to provide services to ensure the benefits of a modern connected life for our people.

Ohuabunwa Advocates Electronic Voting in Elections Nseobong Okon-Ekong The Convener of the New Nigeria Group (NNG), Mazi Sam Ohuabunwa, has advocated the adoption of electronic voting in future elections in Nigeria in order to guarantee a fool-proof voting system.

Ohuabunwa, who plans to contest the presidential election in 2023, said the technology-driven voting template would protect the integrity and credibility of the electoral process in Nigeria. Nigeria has been fiddling with the idea of adopting electronic voting and transmission of

results in emulation of countries where it has helped to eliminate electoral fraud. But recently, in the National Assembly, the idea failed to sail through after majority of the senators voted against it as not workable in Nigeria. However, Ohuabunwa,

accor-ding to a statement issued by his Media Adviser, Sir Ernie Onwumere, insisted that electronic voting and transmission of results is achievable in Nigeria. He cited an instance in Nigeria where it has worked, though on a pilot scale.

Ministry of Humanitarian to Support Naval Officers’ Wives The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, has said the ministry will support the Naval Officers’ Wives Association (NOWA) to empower women, children and youths through its social investment programmes(SIPs). The minister made this known when the executive members of the association led

by its National President and wife of the Chief of Naval Staff, Hajiya Nana Aisha Gambo, paid her a courtesy visit yesterday in Abuja. The minister thanked NOWA for improving the lives of indigent women and children in the society while urging NOWA to take advantage of the social welfare initiative created by the federal government to address poverty and help increase

economic development for women, youths and children. “Considering that the vision of both the ministry and your association is to improve the overall well-being of the society, particularly vulnerable groups, I believe that there are areas we can collaborate. “Some of the clusters of the NSIP which the NOWA can benefit from include the Government Enterprise and

Empowerment Programme (GEEP) which provides free interest loans to small businesses and other vulnerable economic producers to improve their economic capacity and increase local production. There is a GEEP desk office in every local government, so you can encourage members to apply for these loans and be beneficiaries upon successful assessment.

THURSDAY SEPTEMBER 9, 2021 ˾ T H I S D AY

NEWS XTRA

Osinbajo: Africa Has Prospect for Opportunities in Next 10 Years Says $450bn potential income gains at stake Deji Elumoye in Abuja Vice President Yemi Osinbajo has declared that the next 10 years offers great opportunities for Africa’s socio-economic transformation anchored on the African Continental Free Trade Area (AfCFTA). This target, he said, is realisable despite the monumental challenges posed by climate change, particularly energy transition and related issues. Osinbajo made this known Wednesday in a message delivered at the closing of the 2021 Conference of African Insurance Practitioners, themed “Rebuilding Africa’s Economy: An Insurance Perspective.” Advising African insurance practitioners to leverage opportunities in the AfCFTA, the Vice President stressed that every smart economic grouping, whether governments or businesses, must be thinking, planning and strategizing for the projected new times. He opined that “the free trade agreement presents a major opportunity for African countries. By some estimates,

if we get it right, we can bring several millions out of extreme poverty and raise the incomes of 68 million others who live on less than $5.50

per day. There are potential income gains of up to $450 billion, and just cutting red tape and simplifying customs procedures alone could drive

up to $250billion of that sum. “So, what does all this mean for the insurance industry in Africa? Well, plenty of opportunities. More trade in

goods will mean greater need for insurance services, brokers, in particular, should expect a boom; demand for trade facilitation services will rise,

but obviously companies that already have market presence in other African countries, even if by collaboration, will benefit more than others.”

HOUSE DEDICATION…

L-R: Daughter of the celebrant and Director General, Centre for Black and African Arts and Civilisation (CBAAC), Hon. Oluwabunmi Amao; celebrant and Chairman, JOAS Group of Companies, Chief Bode Amao; his wife, Chief Amoke Amao; and Provost, Cathedral of St. Peters Aremo Ibadan, Revd Wale Adebiyi during the dedication of ONILA Residence in Ikeja, Lagos… yesterday ETOP UKUTT

Police Officer Shoots Colleague in Kano Bandits Kill Mobile Police Officer, Abduct 23 in Kaduna Ibrahim Shuaibu in Kano

John Shiklam in Kaduna A mobile Police Inspector has been killed by bandits while 23 people were abducted following attacks on Ungwan Maje and Ungwan Laka communities in Chikun Local Government Area of Kaduna State. The incident, according eye witness, occurred in the early hours of Wednesday when the heavily armed bandits raided the communities. They were said to be shooting sporadically as the villagers ran for their dear lives. An eyewitness said: “The bandits first attacked Ungwan Maje, where they abducted 16 persons, majority of them

women and children. “The bandits later attacked Ungwan Laka, where the Mobile Police Inspector, Joshua Markus, who came to visit his family from Rivers State was killed. “The bandits abducted seven persons, including the wife and daughter of the deceased police man.” A retired military personnel, resident in the community, was said to have narrowly escaped with his family, however, his car and motorcycle were said to have been burnt by the hoodlums. The corpse of the police inspector was said to have been deposited at the Saint Gerald Catholic Hospital, Kaduna.

Pirates Kidnap Five Persons in Rivers Blessing Ibunge in Port Harcourt Suspected pirates have attacked a passenger boat along Bonny-Onne waterways in Rivers State and kidnapped five persons yesterday. A top official of the Maritime Workers Union of Nigeria (MWUN) have confirmed the incident. The Bonny Unit Chairman of Maritime Workers Union of Nigeria (MWUN), Mr. Henry Jumbo, who confirmed the incident, said the boat had 18 passengers when the incident occurred, explaining that five of the occupants of the boat were abducted by the pirates. He added that the remaining passengers were recovered by a search team

and brought to shore after a rescue operation. “I received information that one of our boats was attacked and they made away with about five passengers. “This morning(yesterday), we went with a search team and we got the remaining people. We are begging the government to come to our aid because the sea route for now is not safe the remaining passengers. “We are suffering. This is a big challenge for us,” Jumbo stated, adding that the kidnappers were yet to make contact with the union. Jumbo also appealed to security agencies, to deploy operatives along the BonnyOnne sea route and the sea port as well.

A Police officer, Inspector Ya’u Yakubu, has reportedly shot dead his colleague, Sergeant Basharu Alhassan, over an altercation in Kano State. It has been gathered that the incident occurred on Tuesday night in Warawa Local Government Area when the fight broke out between Yakubu and Alhassan.

It was gathered that during the fight, Yakubu used his gun to fire shot at Alhassan, The deceased was rushed to the Wudil General Hospital by his colleagues where he was confirmed dead by doctors. The Spokesman of the Kano State Police Command, Mr. Abdullahi Haruna Kiyawa, who confirmed the incident, said that Yakubu was enraged because late Alhassan laughed at him

over transfer of place of work out of Warawa. Kiyawa said that the Commissioner of Police, Sama’ila Shuaibu Dikko, has ordered the transfer of the case to the headquarters for further investigation. Meanwhile, the Kano State House of Assembly yesterday called for an amendment of the 1999 Constitution to enable the creation of state police and

other security outfits in order to address the current security challenges in the country. In a communique issued by the state House of Assembly, and signed by its Speaker, Hamisu Ibrahim Chidari, at the end of a three-day legislative retreat for members organised by LEGIS-37 in conjunction with the National Assembly, also called for the devolution of powers to states and local governments.

Gunmen Kill Three Policemen in Delta, Set Vehicle Ablaze

Sylvester Idowu in Warri

Three policemen attached to the Umutu Divisional Police Headquarters in Delta State have been reportedly murdered by unknown gunmen. THISDAY learnt that the policemen were killed at a checkpoint yesterday at about 7:45 a. m. while settling down at their post.

Security sources disclosed that the incident occurred at a checkpoint mounted by the late officers on the Obeti/ Oliogo Road in Ukwuani Local Government Area of the state. It was gathered that the patrol vehicle, a Toyota Sienna, recently donated to the Umutu Police Division, was also burnt in the process. Another sources said the

gunmen, after killing the police officers, reportedly went ahead to set them ablaze inside the patrol Toyota Sienna. “Three police officers attached to the Umutu Division Police Headquarters were attacked and killed on arrival to a checkpoint between Obeti and Oliogo in Ukwuani LGA of Delta State. “They were burnt beyond recognition in their patrol

vehicle, Toyota Sienna van,” the source said. Palpable tension is said to have gripped residents of Umutu, Obeti and Oliogo and other neighbouring communities following the development. The state Police Public Relations Officer (PPRO), Edafe Bright, a Deputy Superintendent of Police, could not be reached at the time of filing this report.

Ozoemena Sworn in as Acting Chief Judge of Enugu Christopher Isiguzo and Gideon Arinze in Enugu Enugu State Governor, Ifeanyi Ugwuanyi, has sworn in Justice Afojulu Raymond Ozoemena as the new acting Chief Judge of the state. This followed the retirement of Justice Ngozi Priscilla Emehelu, the immediate past

Chief Judge of the state, from service on September 7, 2021. Swearing in Ozoemena as the acting Chief Judge yesterday, Ugwuanyi explained that the decision was based on the order of seniority of the Judges of the state High Court as confirmed by the National Judicial Council (NJC) via its

letter with Reference number: NJC/S.14/HC.EN/9/1/228 dated September 1, 2021. The governor noted that the 1999 Constitution, as amended, did not contemplate that vacancy should exist in the office of the Chief Judge of a state given the sensitivity of the office and its functions. He explained that Section

271 sub-Section 4 of the Constitution empowers the governor of a state to appoint the most senior Judge of the High Court to perform the functions of a Chief Judge of a state if vacancy occurs in the position until a person has been appointed to and has assumed the functions of that office.

ASUU Decries Lack of Enabling Laws to Protect State Universities Okon Bassey in Uyo Various state governments that have been establishing universities have been charged to back it up with the necessary legislations. The Chairman of Academic Staff Union of Universities (ASUU), Calabar Zone, Dr. Aniekan Brown, gave the advice while addressing journalists in Uyo, Akwa Ibom

State, yesterday. The Union, he said, expressed concern on how states government established state universities without backing same with the laws. Besides playing politics with it, the union said such portend dangers as most state governors could use it to interfere with the autonomy of the institution.

According to Brown, for most state universities to live to expectation, state governors should stop playing politics with their university system, but follow the laws as recorded in the Universities Miscellaneous Provision Amendment Act of 2012. “This is worrying that only seven state-owned universities have their laws in conformity

with the Universities Miscellaneous Provision Amendment Act of 2012, while 26 are partially compliant. “In most of the universities, the non-demonetisation of the Act gives room for the university administrators and governors to trample on the autonomy of the universities by usurping the powers of Governing Councils and the Senate.

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

THURSDAYSPORTS

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

0811 181 3083 SMS ONLY

FIFA Puts Ahmed Musa’s Century Feat Champagne on Ice

The Nigeria Football Federation (NFF), has deferred to FIFA’s own record of 98 caps for Super Eagles’ Captain, Ahmed Musa, following the nullification of two of the matches he played in which should have made his tally 100. “We defer to FIFA in this regard, so Ahmed Musa has 98 caps. If he features, as expected,

in the home-and-away matches against Central African Republic in October, he will clock the tally of 100 and the celebrations will follow in full flow,” NFF’s Director of Communications, Ademola Olajire, said yesterday. FIFA said on Tuesday that Musa’s appearances in the 3-0 defeat of Togo in a friendly match in Paris in June 2017

and the FIFA World Cup Russia 2018 qualifier against Algeria in Constantine in November 2017 did not count. The match against Togo was struck off as both Nigeria and Togo made more than the regular number of changes in the game, while the encounter in Constantine, which ended 1-1, was deleted because Nigeria

fielded an ineligible player (Shehu Abdullahi) and the result was overturned, with Algeria awarded the game, even as Nigeria had already picked the World Cup ticket before the tie. Musa was believed to have achieved the feat on Tuesday when he was part of the Super Eagles squad that snatched all

three points against Cape Verde in Mindelo. The Turkish Fatih Karagumruk winger was promised N10m bonus by the NFF for the feat, a gesture he promptly offered half of the money to his teammates. Victor Osimhen brought Nigeria to parity after profiting from a defensive howler, 10 minutes after the hosts had taken

the lead with a ferocious shot by Dylan dos Santos Tavares that screamed past the flailing hands of goalkeeper Maduka Okoye. With 15 minutes to go, Kenny Santos Rocha spectacularly lobbed his own goalkeeper Vozinha for Nigeria’s winning goal when attempting a backpass.

R-L: Chairman of Air Peace airline, Allen Oyenma, Super Eagles Captain, Ahmed Musa supported by Moses a Simon, Goalkeeper Trainer, Alloy Agu and Back up staﬀ, Patrick Pascal receiving the dummy cheque for the N20million promised the team on arrival from Cape Verde...yesterday

Air Peace Boss Redeems N20m Promise to Super Eagles Chinedu Eze Chairman of Air Peace, Allen Onyema, has fulfilled his promise to the Super Eagles by giving the team N20 million for winning their 2022 World Cup qualifying match away against the Blue Sharks of Cape Verde last Tuesday. The three-time African champions Eagles, who flew to and from Cape Verde in one of Air Peace's ultramodern Embraer 195-E2 aircraft, received the cheque at the Murtala Muhammed International Airport, Lagos, yesterday. Onyema congratulated the players for the second win in the World Cup qualifiers and charged them to also emerge victorious in their subsequent games. He expressed delight that the Eagles did not disappoint the nation, adding “we believe in your capabilities and have faith in you. "I am happy that you fulfilled your promise to the nation, knowing that you carry the aspirations of Nigerians on your young shoulders. When you were one-zero down, everybody was panicking. Everybody was praying. And you responded

like lions and won the match. There were celebrations all over the country- North, South, East and West", Onyema stated. The Air Peace chief implored the team to keep up the winning

streak and continue uniting Nigerians with their pitch exploits. He added that Air Peace believes in the team and will continue to support them to

take Nigerian football to greater heights. While fielding questions from reporters, team Captain, Ahmed Musa, who said he enjoyed flying the brand new E195-E2

aircraft, thanked Allen Onyema for his kind gestures towards the team and stressed that he (Onyema's) unity speech really inspired the players Onyema had urged the

players before they departed for Cape Verde, to use their football strides to unite Nigerians, emphasizing the unifying power of sports, while also promising them cash incentives.

EunisellBoot:Nwankwo,AtshimeneEmergeJointWinners Players to receive N3.8 million each

Eunisell, sponsor of the prestigious Eunisell Boot award for the highest goal scorer in the Nigeria Professional Football League (NPFL), has announced the duo of Nasarawa United's Silas Nwankwo and Akwa United's Charles Atshimene as joint winners of the award for the 2020/21 season. Celebrating Nwankwo and Atshimene highlights Eunisell's commitment to the growth of football in Nigeria, as each goal scored during the season has a premium value of N200,000 set by Eunisell to inspire players to score more goals. The pair will receive N3.8million each for scoring 19 goals and receive the coveted Eunisell Boot. History will be made by

Eunisell as this will be the first time in the history of the domestic league that N7.6 million will be splashed on two players for their individual feats. It will also be the second time Eunisell will celebrate joint winners after the duo of Mfon Udoh and Ibrahim Sunusi, in 2019. Speaking on the decision to honour both players, Group Managing Director of Eunisell Limited, Chika Ikenga said: "The Eunisell Boot aims to bring more attention to the Nigerian League and raise the profile. "Now is the time to grow our league. The talent, market and opportunity are there. "Football is an ecosystem that contributes significantly

to our economy." Both players scored 19 goals each in a neck-and-neck race during the just concluded season that went down to the wire on the last day when they played on the road. Interestingly, they were tied on 18 goals before the last match day. Atshimene scored his 19th goal in a 1-1 draw at Lobi Stars, while Nwankwo responded with a late goal in additional time at Abia Warriors, where his team was defeated 3-1. Instituted by Eunisell, West Africa’s largest independent chemical as well as oil and gas engineering solutions company, the Eunisell Boot seeks to instill greatness in players in the domestic top flight and celebrate their success story.

Silas Nwankwo

Charles Atshimene

THURSDAY, ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Ronaldo Drives Lamborghini to First Man Utd Training The Portuguese legend, Cristiano Ronaldo is back in Manchester United training and could make his second debut for the club when the Red Devils face Newcastle at Old Trafford on Saturday. He is officially back at the club and is already making his presence known at Carrington, the Manchester United training ground.

On Tuesday, the 36-year-old completed his first session since signing a two-year contract with the Red Devils. He had to complete a five-day period of isolation after landing in the United Kingdom, after the government rejected Old Trafford bosses’ appeal for a quarantine exemption.

After completing the time at his new house, Ronaldo was back at the club’s training ground, meeting up with manager Ole Gunnar Solskjaer and his new teammates. The forward had a face-to-face chat with Solskjaer in his office, before swiftly getting into his training gear to ramp up his preparations for this weekend.

And following his introduction, Ronaldo is now on the same schedule as the rest of the United squad, appearing for training bright and early on Wednesday morning. He was spotted driving into Carrington in his £170k Lamborghini Urus, one of a number of supercars the car-loving superstar has in his possession.

Cristiano Ronaldo...ﬁrst day at work on his return to Manchester United. In Set: The Lamborghini he drove to the Carrington training ground...yesterday

NBBF Vows to Retain Brown as D'Tigers' Head Coach Blames Tokyo 2020 poor run on NOC Olawale Ajimotokanin Abuja The Caretaker Chairman of the Nigerian Basketball Federation (NBBF) Ahmadu Musa Kida, has insisted that Mike Brown will remain in charge as the Head Coach of the national basketball team, D'Tigers for the FIBA Basketball World Cup 2023 African Qualifying window, which begins from November 22to 23, 2021. Nigeria slumped under Brown's watch by virtue of the setback at Tokyo Olympics Games and the recent Afrobasket Championship in Kigali, Rwanda.

Kida, who fielded questions from reporters, described the American as one of the best coaches in the world, while also touting his credentials as impeccable. "I don't think his credentials are in doubt. NBBF is proud to have him as the Head Coach of the national team. There is no comparing him to people who have expressed the desire to be coaches of the Nigerian national team. "The NBBF and I as the President have a lot of confidence in Mike Brown's ability. We are happy to have him as our Head Coach. He has all my confidence and the

intention is to keep him," Kida said. Kida was also quick to jump in defence of Brown for the poor outings in Tokyo and Kigali by holding the International Olympic Committee (IOC) liable for the team's Olympic meltdown. He ascribed the federation's inability to bring together top players because of club commitments to the poor outing in Rwanda. Kida accused IOC of tactically sabotaging the efforts of the federation by passing the wrong information to the National Olympic Committee (NOC) on the number of officials to be allowed on the

Nigerian bench He noted the inability of the team to have full complement of officials, with vital role to play, affected both the male and female national teams. "We were always entitled to a full complement of our officials. We normally have eight different of coaches plus officials and trainers who sit on the bench. Those people contribute to each game and every practice. "I was really sad at the Olympics to understand that the IOC had instructed the NOC they only allowed three officials. While we

Nigeria’s Female Team Begins ICC World Cup Ticket Chase in Botswana Nigeria’s Women’s Cricket team will today begin a chase for spot in the ICC Women’s T20 World Cup in Gaborone, Botswana where the African Qualifier is taking place. The Nigerian ladies are to tackle Sierra Leone in the opening round of the event. Nigeria is paired with Namibia, Cameroon, Uganda and Sierra Leone in Group B of the ICC Women’s T20 Africa Qualifying Series where the overall winner picks the sole ticket available at the event. Group A consists of Botswana, Eswatini, Rwanda, Tanzania and Mozambique. Etim Blessing, the most experienced player on the Nigerian team would be leading the ladies. Leader of the Nigerian delegation, Professor Mariam Suleiman acceded that the outing promises to be a great one for the Nigerian side. “The team had been camped for close to a month in Benin City and enjoyed top class training with some of the best female handlers in the country. “This is also against the fact that they featured at Kwibuka Invitational Tournament earlier in the year in Rwanda which exposed them to some tough

were allowed only 12 players and three officials, others had full delegation of 21 to 25 in their contingent. This immensely and cost us the first two games and demoralised the players as they could not have their coaches that could be giving them the needed technical talks. "We interrogated FIBA, which actually claimed ignorance on why such an instruction came from the IOC at the Olympics. And seeing the situation on ground, the Sports Minister, Sunday Dare, rallied round to see that there was increase in the number of our officials for the teams, Kida said".

On the forthcoming national sports federations election, Kida said he was ready to serve in any capacity if the Nigerian basketball stakeholders decided he should serve another term. He said he has been part of the structure that has made basketball a sport in Nigeria in the past four years to the extent that everybody expects Nigeria to go out and win without excuses. "For me that tells me that we are on good path and for me what will be important going into the election is to be able to make this programme sustainable, " Kida said.

Heavy Downpour Aborts NNL Super 8 Matches Insurance FC can steady their promotion dreams if they beat Ekiti FC today Duro Ikhazuagbe

Nigeria’s female cricket team will today in Botswana begin the race for ticket to the ICC World Cup match situation,” she recalled. According to Professor Suleiman, they are more prepared and the only justification for their handwork is for them to grind out results at in the matches ahead. “Since their last outing, they have seen a couple of changes including few joggling in the team’s line up, and all these we believe will come together for us to win our first match against Sierra Leone.” The team is made up of Blessing Etim (c), Kehinde Abdulquadri, Taiwo Abdulquadri, Omonye

Asika, George Chinyenum, Mary Desmond, Joy Efosa, Abigail Igbobie (wk), Miracle Imimole, Piety Lucky, Agatha Obulor, Racheal Samson, Esther Sandy and Salome Sunday. Nigeria will take on Namibia and Uganda on Friday and Saturday respectively before taking a rest on Sunday and return on Monday to tackle Cameroon in their final group game. Etim added that, “We have done a lot of work individually and collectively as a team and I

believe the event will be one of our best outings yet and we are eagerly looking forward to hit the field” She added that the team was motivated by the huge support offered by the Edo State Government and the Nigerian Cricket Federation, during their near one month stay at Camp. “It is just natural that we show our appreciation by putting up a show they would be proud of here. And that is what we hope to do. Especially make everybody back home proud.”

The ongoing Nigeria National League Super 8 in Enugu was disrupted yesterday by the heavy down pour that made it impossible to conclude the second half of the Match-day 2 fixture between Gombe United and DMD of Borno State. When the Nnamdi Azikiwe Stadium pitch became flooded yesterday, organizers of the playoffs decided that the remaining 25 minutes of the Gombe United and DMD match be played at 8.00am today. As at the time the game was called off, Gombe United were leading 1-0. The third game of the evening between Bendel Insurance and Ekiti United FC was moved till this morning immediately after the Gombe/DMD match. Niger Tornadoes are however in the driver’s seat of the Group A northern conference with four points from two matches, while

Gombe United and DMD have a point each. In Group B, top teams Remo Stars and Shooting Stars who have collected four points each from two games are tied but with Remo having the better goals difference to be at the top. Bendel Insurance however still have the chance of qualifying from the Group if they win against Ekiti United today with wide margin and avoid defeat against Remo Stars in their last game on Friday. There were however anxiety amongst team officials and organizers yesterday that games planned for today may be disrupted due to the sit-at-home declaration by the Indigenous People of Biafra (IPOB) in protests over the President Muhammadu Buhari's planned visit to Imo State to commission some projects of the state government. It is feared that all markets and businesses may be shut today in the South- east in protest against the president’s visit.

Thursday, September 9, 2021

UT H

& RE A S O

Price: N250

MISSILE Yakubu to Bar/Bench “In a number of electoral cases in Nigeria today, the settled law is now unsettled and the time-honoured principle of stare decisis does not seem to matter any longer... the more INEC strives to improve the credibility and transparency of our electoral process, the more extraneous obstacles are put in our way through litigations” ——INEC Chairman, Prof Mahmood Yakubu, on how conﬂicting court orders from politicians hamper the electoral process

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

The $418 Million Question W hen you come to power with a campaign to fight corruption, you cannot afford to be silent when your government is being accused of aiding and abetting impropriety; and certainly not when the accusers are members of your own political party or their agents. It is for that reason that President Muhammadu Buhari may have to take a second look at his authorization for the payment of a controversial $418 million in Paris Club refund-related judgment debts to six claimants, which both the Nigeria Governors’ Forum (NGF) and Association of Local Governments of Nigeria (ALGON) strongly dispute. For the record, 20 of the 36 Governors today belong to the ruling All Progressives Congress (APC). The NGF chairman, Dr Kayode Fayemi of Ekiti State is also a member of the party. Yet, he has been vociferous in the last two years about what he alleges to be a desperate attempt to hand over such humongous sum of money to some consultants. In their 30th August letter, the NGF practically indicted the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed. After making the point that she was “illegally authorising” questionable deductions from the allocations due to the states that would take over a period of ten (10) years from statutory allocations to defray, the NGF lawyer, Femi Falana, SAN, concluded: “We hold the strong view that this in itself is the height of corruption and lawlessness.” I understand that when it comes to money matters involving our big men and women, one would never know the backstory nor even the real story, beyond whatever they want you to hear. But contending issues in this payment are quite troubling. I have seen various correspondences (some contradictory of one another) emanating from the Attorney General of the Federation, Chief of Staff to the President, the NGF chairman and Director General (past and current, including factional ones), Minister of Finance (past and present), numerous lawyers/consultants and the Debt Management Office (DMO). And they raise several questions bordering on transparency and accountability in Nigeria. In a November 2018 letter to the office of the AGF, a breakdown of the claims by the consultants and lawyers was provided by the NGF, even when many of the cases remain pending in court. Ned Nwoko Solicitors was seeking a fee of $369,932,117.26 for financial consultancy work he claimed to have done for 14 states. The states are Niger, Adamawa, Taraba, Abia, Anambra, Bayelsa, Ebonyi, Enugu, Imo, Oyo, Ondo, Zamfara, Edo and Kogi. Although Kayode Ajulo & Co sought N900 million for the legal services it claimed to have provided the Jonah Jang faction of NGF, the case has been settled out of court. Riverdale Financial Services Ltd was seeking N12,912,574,537.06 on grounds that their financial consultancy services were engaged by eight states. Interestingly, the states included Zamfara that had signed on to Nwoko for the same services. Others are Bauchi, Osun, Ekiti, Sokoto, Kogi, Kwara and Katsina. Riok Nigeria Limited was seeking $318,807,950.596 for the boreholes it claimed to have constructed for 774 local governments. Allied Plus Consulting & Logistics Limited/Azinge & Azinge were demanding N4,232,400,000, for consultancy services they claimed to have rendered to Bayelsa State. Balsa A.B.S. Nigeria Limited/

Fayemi... NGF Chairman

Azinge & Azinge were seeking N2,024,567,441.15 for financial consultancy they claimed to have provided Kebbi State. Udembgba Maduka & Associates/Azinge & Azinge were seeking N1,389,768,631.07 for financial consultancy they also claimed to have provided Zamfara State. George Uboh’s Panic Alert System was seeking $47,821,920.00 for consultancy services it claimed to have rendered the Jonah Jang faction of NGF while Nipal Consulting Network/Njemanze & Njemanze were seeking $6,966,000.00 for services they claimed to have provided ALGON. I have read many of the correspondences and the only conclusion to draw is that it is so easy to become a billionaire in Nigeria through government. Some of the work these consultants and lawyers claimed to have done to table

such crazy bills include granting interviews to newspapers and television stations! But the main concern is about the quantum of public funds being transferred to private entities. Against the background that on 14th September, the then Minister of Finance, Mrs Kemi Adeosun, wrote the CBN Governor, Mr Godwin Emefiele, requesting him to “credit Escrow Account domiciled with the CBN with the sum of USD350 million” to settle “legal/ consultancy fees” (for the first tranche already paid to these contractors, consultants, lawyers and the NGF secretariat), we are already talking of fees exceeding $750. By way of background, this whole business started in 2006 under President Olusegun Obasanjo, in a Paris Club Debt Buy Back deal totaling about $18 billion. But with the money taken from the federation account, there was a lacuna. Since many states owed minimal or no foreign debts and were made to bear the responsibility with others, it was clear that there were legal issues to be explored. One of those smart enough to realise this was a certain Ned Nwoko. He moved from state to state to convince the governors that he could secure billions of Naira for them, and that they only needed to sign agreement with him on certain percentages of whatever he recovered. Apparently thinking they had nothing to lose, many governors were too eager to sign onto the deal that would give away 20 percent of their states money to the consultant. In the case of the 774 local governments, none had any foreign loan yet by statutory allocation, 15 percent of the money deducted for the Debt Buy Back deal belonged to them. Nwoko also approached ALGON with the same proposition and he got a deal. Having calculated the sum due the 774 local governments to be $3,188,079,505.96, Nwoko assembled a team of lawyers and in 2008, he went to court against the federal government. In December 2013, he finally got judgement

at the federal high court in Abuja, affirming that the federal government utilization of the federation account “for London Club Debt Buy Back in 1992 and 2002; and London Club Debt Exit in 2006 without the authorization of the other tiers of government, including the local government councils and area councils of Nigeria, is contrary to section 162 (1), (3), (5) of the constitution of the federal republic of Nigeria 1999 (as amended).” Other reliefs he got included that the federal government should pay the sum of $3,188,078,505.96 to the local governments as well as “deduct at source 20% of the judgement sum and pay same to the 1st plaintiff (Nwoko’s consultancy) through its solicitors, Joe Agi, SAN into (bank details withheld) being the agreed consultancy fees.” NOTE: This piece is concluded on page 14

Tramadol Miracle!

n Monday, PUNCH Metro published a very revealing story of a 28-year-old man in Gombe State, Umar Abubakar, who reportedly spent over seven hours on a telecoms mast, threatening to kill himself. Abubakar, whose pictures is on social media, climbed to the top of the mast, located at Checheniya in the Gombe metropolis, around 7am and refused to come down despite entreaties from security agents and the local government chairman, Aliyu Haruna. He insisted that only Governor Darius Ishaku could make him come down until his friend, Aladeen Mohammed, eventually showed up. He persuaded Abubakar to come down by, in his own words, “offering him a cigarette and tramadol.” It is very telling that Abubakar’s friend knew what to prescribe to solve a problem of attempted suicide. More importantly, it worked!

Kaduna Language Class O

n 17th June 2014, I received a mail from respected senior journalist, Mr Taiwo Obe, inviting me to speak at a ‘Summit on Functional Social Networking for Nigerian Journalists’ in Abuja that his ‘EverythingJournalism Group’ was organizing in partnership with the United Bank for Africa (UBA). I found the invitation rather strange; so, I sent egbon Taiwo a response that it was directed at the wrong person because I was not on social media and had resolved not to join any of the platforms. He replied that I was invited for same reason, and that I should come and explain why, at the Journalism Clinic. I went and delivered my presentation titled, ‘Why social media is not for me,’ which explained my misgivings. Less than a year later, I joined Twitter. While my fears about the toxicity of the Nigerian social media space remain valid, I have enjoyed my time on Twitter, and in the process, even gained some 57,000 followers. Beyond posting my column every Thursday, I avoid ‘political Twitter’ so I am a marginal player on the platform. But I have cultivated my own space. I like to know what the neighbours of

Mama Samu aka Iyalaya (@lollylarry1) are doing behind the curtains within and outside their apartments, I have a ringside seat at the radio station of the Cinderella Man (@osi¬¬¬_Suave) to defend, with all aluta brutality, the interest of ‘Sharon from Marketing’, I take judicial notice of how Irene (@cremechic11) has transferred her ‘love for short men’ from Kenya to Nigeria and @biolakazeem never ceases to entertain with the way he goes after OGS who took over from his friend, ‘The Special One’ at Old Trafford. Since Aguntasolo (@DoubleEph) has stopped throwing his usual bazookas, I now watch ‘with one eye’ as ‘Daddy Wa’ (@mrmacaroni1) ‘freaky freakies’ all the ‘omo komo’ in Lagos and environ and, like Charles (@9jabloke) and all Arsenal fans, our longsuffering has been made bearable by the occasional banters we share on Twitter to drown our disappointment. However, the space I enjoy most is the one created by Mrs Hadiza Isma El-Rufai in December 2019 to teach English language. What transpires there, even though I am one of the protagonists, is a reminder of ‘Mind Your Language’, a British sitcom of the seventies and eighties which depicted an adult education classroom where

people from different countries and diverse social and ethno-religious backgrounds shared the same classroom to learn English as a foreign language. With the #Kaduna Language Class, Mrs El-Rufai generates fun while at the same time imparting knowledge. She recently compiled her Twitter teachings into a book, and I got an autographed copy addressed to “the naughtiest boy in #KLClass” with a pledge to “continue praying for me.” An architect by profession, Mrs El-Rufai has already authored an interesting novel, ‘An Abundance of Scorpions’. But this book is different. Small and easy to read, it highlights some of the basic errors people make, either when speaking or writing in English language. While the foreword by Kola Tubosun sums up the significance of the book, Mrs El-Rufai explains why she wrote it: “I am not a graduate of English language; neither am I a linguist. I am just someone who believes that every language should be respected enough to be spoken and written properly.” Whenever the federal government is ‘magnanimous’ enough to unban Twitter in Nigeria, I will resume to take my SIT in the class!

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