WEDNESDAY 15TH SEPTEMBER 2021 by THISDAY Newspapers Ltd

President Seeks Senate Approval for $4.179bn, €710m External Loans PDP: Buhari and APC selling Nigeria, urges NASS probe Chuks Okocha and Deji Elumoye in Abuja President Muhammadu Buhari has formally sent a letter to the Senate seeking its consideration and approval of $4.179 billion ($4.054

billion and $125 million) as well as £710 million external loans to fund projects captured under the 2018-2021 borrowing plan. But the Peoples Democratic Party (PDP) yesterday vehemently rejected the move by the president,

alleging that the Buhari-led All Progressives Congress (APC) was on a mission to mortgage the country. The loan requests were the second time in 2021, that President Buhari would be asking the upper

legislative chamber for approval of external loan to fund critical projects in the country. Last May, the President sought the approval of the Senate to borrow $6.1 billion from the international capital market which

the Red Chamber graciously approved shortly before going on a two-month long annual vacation in July, 2021. The latest letter of request dated August 24, 2021 by President Buhari was read at yesterday

plenary by President of the Senate, Dr. Ahmad Lawan. The President in the letter explained that the projects listed in the 2018-2021 Federal GovernContinued on page 49

Ex-Unilag Council Member Seeks Trial of VC for Breach of Procurement Law... Page 6 Wednesday 15 September, 2021 Vol 26. No 9655. Price: N250

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VAT: Wike Goes to S'Court, Wants Stay of Execution Nulliﬁed

Alex Enumah in Abuja

14TH ANNUAL BANKING AND FINANCE CONFERENCE... L-R: Group Managing Director/CEO, Access Bank Plc., Dr. Herbert Wigwe; Governor, Central Bank Nigeria (CBN), Mr. Godwin Emeﬁele; Vice President Yemi Osinbajo; President/Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Mr. Bayo Olugbemi; 1st Vice President, CIBN, Dr. Ken Opara and Registrar/Chief Executive, CIBN, Mr. Seye Awojobi, during CIBN's 14th Annual Banking and Finance Conference held in Abuja... yesterday PHOTO: GODWIN OMOIGUI

The Rivers State government on Tuesday asked the Supreme Court of Nigeria to quash the ruling of the Court of Appeal, Abuja Division, which ordered parties to maintain Continued on page 8

Buhari Rallies Banking Sector Support to Lift Nigerians Out of Poverty N15tn InfraCorp ready in October, says Emefiele CBN floats Nigerian International Financial Centre Osinbajo urges banks to fund housing projects

Deji Elumoye, James Emejo and Sonia Mayomi in Abuja and Nume Ekeghe in Lagos

President Muhammadu Buhari yesterday urged the banking and financial services sector to play stronger roles in ensuring that small and medium-sized

enterprises (SMEs) become "fit for purpose" as well as provide them full support to excel. He said such financial intermediation would be essential at the time like this when Nigerians are grappling with the adverse impact of the Continued on page 49

Africa Capitalworks Invests in DORMAN LONG INVESTMENT CEREMONY... L-R: Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote; Chairman, Dorman Long Engineering Ltd., Dr. Timi Dorman Long Engineering ... Austen-Peters and Managing Partner, Africa Capitalworks (ACW), Nana Sao, at the Dorman Long and Africa Capitalworks Investment Ceremony in Lagos... yesterday Page 50

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

NEWS

SIGNING GREEN BOND ISSUANCE MEMORANDUM... L-R: Lagos State Commissioner for Finance, Dr. Rabiu Olowo; Managing Director/Chief Executive Oﬃcer, FMDQ Group, Mr. Bola Onadele. Koko; Attorney General and Commissioner for Justice, Mr. Moyo Onigbanjo (SAN); Lagos State Governor, Mr. Babajide Sanwo-Olu and Special Adviser to the Governor on Sustainable Development Goals (SDGs) and Investment, Mrs. Solape Hammond, during the signing of the Lagos State Green Bond Issuance Memorandum of Understanding (MoU) at Lagos House, Marina, Lagos... yesterday

Lagos to Raise N25bn through Green Bond Segun James Lagos State Governor, Babajide Sanwo-Olu has signed a memorandum of understanding (MoU) with FMDQ Group and Financial Sector Deepening (FSD) Africa, on the proposed N25 billion (over $60 million) green bond issuance by the state. A statement yesterday explained that the event held in Lagos, came less than 24 hours after Lagos was upgraded to AAA(nga) rating from AA+(nga) by Fitch International for the State’s good standing on debt sustainability and resilience. The FSD is the programme’s implementing partner. Sanwo-Olu said the green bond programme, being supported by the UK Agency for International Development (UK Aid), would raise the capacity of the state government to deliver more key infrastructure and social projects that would keep Lagos on the path of prosperity. Launched in 2018, the Green

Bond Market Development Programme is to facilitate development of a green bond market to support broader debt capital markets reforms that will impact the sovereign and non-sovereign bond markets in the country. The programme is to empower state governments to champion sustainable finance for development. Sanwo-Olu said the MoU was the crucial first step being taken by Lagos towards creating viable financing option for future green and sustainability projects. The funding opportunity, he said, would advance adoption of innovation and technologies to provide green jobs, thereby promoting economic and climate resiliency. He explained: “As a government, we are committed to utilise our limited resources more efficiently to create a circular economy, which is a promising and viable alternative. Public spending and investments may not be enough to deliver our key

Security Recaptures 114 Escapees in Kabba Prison Attack Michael Olugbode in Abuja

The Controller General for Correctional Services, Haliru Nababa, has said 114 escapees from the Sunday night Kabba prison attack, Kogi State, have been recaptured in total. The centre, which had security officers on duty, including 15 Soldiers, 10 Police Officers and 10 armed guards of the NCoS sustained casualties as two officers were yet to be accounted for while one soldier and a policeman lost their lives during the attack. A statement on Tuesday by the spokesman of NCoS, Francis Enobore, read that following the attack on the Medium Security Custodial Centre, Kabba in Kogi State on 12th September, 2021 and the swift intervention of security, a total of 114 escapees have been recaptured. The statement said the CG, who personally led a team to the

Custodial Centre for on-the-spot assessment, directed immediate Search Party Response Team to go after the escapees while security was immediately beefed up through the deployment of additional Armed Squad personnel to fortify the facility. The CG commended the collaboration and support extended to the Service by sister security agencies including the vigilante groups, which assisted in recapturing the fleeing inmates. He advised the remaining escapees to turn themselves in within the next 24 hours or risk prosecution if arrested. He noted that it would be of no use for them to keep hiding since their photographs and biometrics have been captured and are intact. While assuring the general public of their safety, the CG stated that no effort would be spared in smoking out fugitives from hiding.

objectives; therefore, the need to tap into more private investments for the transition to a zero waste and circular economy, as well as achieving crucial items of the Sustainable Development Goals (SDGs). “I strongly believe that the Green Bond programme will open the doors of deep sustainable funds for infrastructure and social development for Lagos. Being the biggest player in the sub-national capital market, Lagos’ experience can open new doors for a lot of others. “As a state, we embrace the transparency and commitment that comes with a Green Finance framework. We believe it sends an important signal to investors in the market about who we are: a State that is fiscally responsible, prudent and disciplined.” Sanwo-Olu said Lagos’ credential in investment sustainability made the state take the bold

step to activate the framework to benefit from the programme. He said the initiative would go a long way in ensuring that key deliverables in his administration’s T.H.E.M.E.S agenda are actualised, while pledging that the State would continue to blaze the trail of leadership, financial accountability, innovation and sustainability. The Special Adviser to the Governor on Sustainable Development Goals (SDGs) and Investment, Mrs. Solape Hammond, said the journey to get the framework approved started last year, disclosing that the MoU highlighted key projects to be delivered by the state government to actualise economic sustainability. She said the finance would be invested on green projects, adding the implementing partners had created a mechanism to ensure funds earmarked were disbursed

judiciously. On his part, the Commissioner for Finance, Dr. Rabiu Olowo, said Lagos had 20 years’ experience in raising bonds, assuring implementing partners and capital market operators of the state’s commitment to the terms highlighted in the framework. Also commenting, the Chief Executive Officer of FMDQ Group, Mr. Bola Onadele, said Lagos had built reputation and “incredible potential” for catalysing broadbased sustainable development, which explained the partners’ readiness to support the State in unlocking the capital to fund key projects. He explained: “ I have no doubt that the implementation of this MoU and the impact thereof will ensure that Lagos continues to set itself apart, support its developmental aspirations and highlight its sustainability efforts at the global green and sustainable

finance ecosystem. We are excited about this opportunity to support the developmental aspirations of Lagos.” Also, FSD Africa CEO, Mr. Mark Napier, saluted the Governor’s energy and his commitment towards providing infrastructure which future generations can rely on. He added: “It’s truly a significant event that the economic powerhouse of Africa’s largest economy is signing the green bond investment and I can say this is leadership being demonstrated by the Lagos state government. I expect other states to follow this path.” The high point was the signing of the MoU by all parties under the supervision of the State Attorney General and Commissioner for Justice, Mr. Moyo Onigbanjo, and witnessed by the British Deputy High Commissioner, Mr. Ben Llewelly-Jones.

NCAA Expresses Satisfaction with Domestic Airlines’ Adherence to Safety Chinedu Eze The Director General of the Nigerian Civil Aviation Authority (NCAA), Captain Musa Nuhu has said there is marked improvement in the safety of domestic airlines following strict compliance to safety regulations. Nuhu, who made this known in Lagos, while fielding questions from journalists Monday night, stated that air safety has continued to improve in Nigeria as airlines and the NCAA work together. He assured air travellers that Nigerian carriers have kept to the highest standard of safety in their operations. Nuhu also said Nigeria’s domestic aviation was growing as new entrants recently joined the sector, saying more operators were still processing their Air Operator’s Certificates (AOCs) with the authority. The Director General said the NCAA has the best relationship with airlines, pointing out that critical decisions taken on the operations of domestic carriers

fall on his table. He said it is only his office that has the power to ground the operations of any airline. He noted that despite the devastating effects of Covid-19 on aviation globally, there has been discernible growth in domestic flight service, which has prompted more entrepreneurs to invest in airline business. “We have at least four more airlines processing their AOCs (Air Operator Certificate), we see that the domestic sector is growing, the rate of connections among cities is increasing, for instance, Nigerian Eagle has gone far with its AOC and would soon start operation. “We have the best relationship with the airlines but nobody can ground any airline without the approval of the Director General. We could have issues here and there but the airlines have been in compliance with safety regulations but nothing is 100 per cent,” he said. Speaking on the debts owed by the airlines, Nuhu said the Authority has entered new ar-

rangement with airlines, whereby they settle their debts as they operate. He said that the agency decided to manage airlines’ old debts in a way that it would not drastically affect their finances in order to allow them sustain their operation, adding that if NCAA insists on collecting the entire debts owed it, some airlines would go under. He said with new entrants, there is a tripartite agreement on how airlines would remit their Passenger Service Charge (PSC). “The debts are legacy debts; a lot of them have mapped out their plans on how to pay”, he said. Nuhu also disclosed that the International Civil Aviation Organisation (ICAO) Universal Safety Oversight Audit Programme (USOAP) on Nigeria’s aviation industry would be coming up in 2022, and NCAA was working on it and that one of the things that must be done is the certification of the international airports. He said the Murtala Mu-

hammed Airport (MMA), Lagos and the Nnamdi Azikiwe Airport (NAA), Abuja were certified few years ago and that they are presently undergoing re-certification, and that some progress have been made as it concerns the recertification process. The Director General also hinted that Enugu, Kano and Port Harcourt airports are presently undergoing initial certification processes, adding that as soon as all the open items are closed, NCAA would certify the three airports. According to him, “Lagos and Abuja were certified a few years ago and presently, they are going through re-certification. There has been some progress. We have a few gaps that are to be closed. Some have been closed, others, we are in the process of closing them and new gaps have come. We are working closely with the management of the Federal Airports Authority of Nigeria (FAAN) to close the open items to ensure that the re-certification process is completed as soon as possible.”

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NEWS

PAPAL INVESTITURE... L-R: Awardees of Papal Knighthoods of St. Syvesterster (KSS), by his Holiness Pope Francis, Sir Patrick O. Amaechi; Sir Cyril Toyin Pinheiro, SAN; Dame Winifred Akpani; Archbishop of Lagos Archdiocese, Most Rev. Alfred Adewale Martins; other KSS Awardees are Sir Anthony Idigbe, SAN; and Sir Patrick O. Igwilo, during the Feast of Exaltation of the Holy Cross and Investiture of Papal PHOTO: KOLAWOLE ALLI. Chaplains, Knights and Medalists at Holy Cross Cathedral Church, Lagos...yesterday.

Ex-Unilag Council Member Seeks Trial of VC for Breach of Procurement Law

Emmanuel Addeh in Abuja

A former Governing Council Member of the University of Lagos (Unilag), Prof. Boniface Oye-Adeniran, yesterday called for the prosecution of the current Vice Chancellor of the institution, Prof. Oluwatoyin Ogundipe and other members of the management that were alleged to have breached the procurement law. The retired professor of Obstetrics and Gynaecology, who spoke on Arise News Channel, THISDAY’s broadcast arm, was reacting to the indictment of the Unilag VC by a visitation panel

set up by the Visitor to the school, President Muhammed Buhari. The panel chaired by Gen. Martin-Luther Agwai (rtd) was set up by Buhari earlier in the year to evaluate the financial management systems and overall condition of teaching, research and community service in the university, among several others in the country. Other members of the visitation panel assigned to the University of Lagos were: Femi Agunbiade, John Alufohai, Mallam Abubakar Maikafi, Mrs. Ogochukwu Onuorah, Umar Yahaya and its Secretary, Mr. Ashafa Ladan .

Before the fact-finding body was established to examine the affairs of the university and issues that led to the crisis between Ogundipe and then Dr. Wale Babalakin-led governing council, there had been a fierce disagreement between the then governing council of the institution and the management. But Oye-Adeniran stated that he was not surprised by the conclusion of the special visitation panel which indicted the VC, saying that he was glad that his position that the institution under Ogundipe, is a cesspool of mismanagement has now been confirmed. He argued that the first panel

was made up of professors and former vice chancellors, who would not indict one of their own because whatever decision they took would have affected their own futures. “Whatever they come out with might also affect their own future. They might have done the same thing in their various universities in their capacities as vice chancellors. So I was not surprised with the first panel, and I spoke out about it. “The Chairman of the panel, Prof. Tukur Sa'ad disagreed with the main report and confirmed that what was going on in the

University of Lagos was corruption, and that the vice chancellor was virtually converting the institutional funds to his Automated Teller Machine (ATM). “The present report shows that the council, then led by Babalakin monitored events in the university, rightly set up a disciplinary panel and rightly came to the conclusion that the vice chancellor should go,” he maintained. He insisted that the statement by Ogundipe at the time that he was not given fair hearing was not true. He argued that the VC had no answers to the allegations,

Lawan: Insecurity Remains Nigeria’s Biggest Challenge Demands quick implementation of PIA Buhari seeks passage of bills on arms control Sule says successes against banditry threaten Nasarawa’s security Deji Elumoye, Juliet Ekoje in Abuja and Igbawase Ukumba in Laﬁa President of the Senate, Ahmad Lawan, has said insecurity remained Nigeria’s biggest challenge that must be prioritised and tackled head-on through constant engagement between the Executive and Legislature. Lawan, who stated this on Tuesday in a speech delivered to welcome Senators back from their two-month annual recess, however, demanded quick implementation of the Petroleum Industry Act, passed and signed into law some weeks ago. Also, disturbed about the increasing insecurity across the country, President Muhammadu Buhari, has sent two bills on the Control of Small Arms, Light Weapons and Explosives in the country to the National Assembly for necessary consideration and passage. But the Nasarawa State Governor, Abdullahi Sule, has said the successes being recorded against banditty in Niger, Zamfara, Kaduna and other neighbouring states in the North West posed a threat to peace in Nasarawa State. Addressing his colleagues, Lawan said, efforts must be made to sustain the fight against insecurity by ensuring adequate funding for security agencies in the 2022 budget to be submitted by President Muhammadu Buhari later this month to the National

Assembly for consideration. He said, “Distinguished colleagues, let me applaud and commend our gallant Armed Forces for the recent success recorded in their fight against insurgency and banditry in our country. I want to urge them to sustain the campaigns until the insurgents and bandits are rooted out in our country. “Distinguished colleagues, you would recall that we approved the Supplementary Budget request of the Executive in July this year, just before we proceeded for the annual summer recess. The National Assembly approved over N800 Billion for our Security and Intelligence Agencies. “While that provision was appropriate and indeed necessary, we should sustain the trajectory of increase in funds and resources to the security sector. “Therefore, we should consider a ramp up of more resources for our security agencies in the 2022 Appropriation. This also requires that our Defence and Intelligencerelated committees must step up their oversight on the Agencies. “Distinguished colleagues, the fight against the security challenges in our country requires continued engagements between the National Assembly and the Executive arms of Government. “It also requires continues engagements with citizens, for the necessary and desired results to be achieved. We must,

therefore, remain resolute and focused in achieving those. The National Assembly, indeed the federal government has no more serious challenges to tackle than insecurity today.” The Senate President, while giving a breakdown of landmark legislations passed by the Ninth Assembly, underscored the need for the implementation committee set up by President Muhammadu Buhari to ensure the timely execution of the Petroleum Industry Act assented to by the President on August 16, 2021. His words: “Distinguished colleagues, before we embarked on our recess, we had accomplished the targets that we set for ourselves. We passed the Petroleum Industry Bill (PIB), and also passed the Electoral Act Amendment Bill 2010. “These were landmark Legislations targeted at enhancing the Oil and Gas Sector in our country and improving the electoral system in our dear Nation. “Distinguished colleagues, as we are all aware, Mr. President assented to the Petroleum Industry Bill on 16th August, 2021 making it an Act of parliament. Also, the President had set up an implementation Committee to start the execution of the provisions of the Petroleum Industry Act. “I want to take this opportunity to urge the implementation Committee to expedite action so that our country will start to reap the

benefits of the law.” Lawan, therefore, charged the Senate Committees on Petroleum Downstream, Petroleum Upstream, and Gas to start oversight on the implementation of the Petroleum Industry Act, with a view to ensuring that the Senate discharges its critical mandate of compliance with contents and dictates of the law. On the Electoral Act Amendment Bill passed by the Senate and House of Representatives in July 2021, the Senate President announced that a conference committee would be set up to harmonise the two versions of the bill, so as to enable its eventual transmission to the President for assent. He added that, “both Chambers had done a great and patriotic job to increase the integrity and transparency of our Electoral processes and procedures through these amendments.” On efforts made by the Ninth Assembly to review the 1999 Constitution, Lawan disclosed that the Constitution Review Committee would present its report soon to the upper chamber for consideration, adding that the amendment exercise was intended to “make Nigeria a more united and stronger Federation.” The Senate President disclosed further that the Senate Joint Committee on Finance, National Planning and Economic Matters, Petroleum Downstream, Petroleum Upstream and Committee on Bank-

ing would also present its report soon on the 2022/2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), preparatory to the presentation of the 2022 Appropriation Bill by the President. He added that the Standing Committees of the Senate were ready to receive Ministries, Departments and Agencies (MDAs) for budget Defence. “As in the previous years, all MDAs are expected to defend their budget proposals within October 2021, as this is the only allotted window for the exercise. “Distinguished colleagues, there is no gainsaying the fact that, the early passage of the 2020 and 2021 Budget has yielded tremendous benefits to our Economy and Country. “According to the second – quarter GDP report release by the National Bureau for Statistic (NBS), Nigeria’s Gross Domestic Product (GDP) increased by 5.01% in the second quarter of 2021 – strongest growth since fourth quarter 2014. “This can be attributed to the early passage and subsequently implementation of the Budgets. The National Assembly is proud to be a major factor in turning around the economic fortunes of our dear Country,” Lawan said. Lawan also gave assurances that the National Assembly in its Continued on page 8

including splitting of contracts, renovation of official quarters of principal officers of the university to the tune of N114 million, when his approval limit was N2.5 million and spending N49 million for renovating his own quarters as well as N2 million for furniture. While calling for the trial of all those affected by the indictment, the former council member alleged the VC must resign immediately to preserve the sanctity of the university system. “If the vice chancellor is asked to leave, by the time he leaves, he will have totally destroyed the University of Lagos. To send a signal to other public officers, those who breach the procurement law should be tried, they should have their days in court. “The punishment should be dismissal, five years imprisonment without option of fine and asset forfeiture. If they have their days in court, others will think twice before stealing public fund,” he argued. He maintained that the problem with dismissal or termination alone is that another council could come and pardon those indicted, arguing that besides council’s disciplinary action, they should be sent to the court of law to defend themselves. Oye-Adeniran described the latest report as overwhelmingly detailed, alleging that there had been an endemic looting of the university by principal officers who did not think that a visitation panel would discover all the illegal practices. “I think the panel headed by Gen. Martin-Luther Agwai has done a good job, and I commend them. They are a men of integrity and they have done the country proud “I commend President Muhammadu Buhari for setting up the panel. The panel was fair, because everybody that wanted to see the panel was allowed to see the panel, and they listened attentively. “They were fair in their questioning, and they were not hostile to anybody that appeared before them, unlike the former special visitation panel that was hostile to anybody that was coming there to say anything against the vice chancellor. I think if this is replicated in other quarters, we might then be dealing with the issue of corruption,” he said.

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NEWS

Report: UAE Names Six Nigerians among Sponsors of Boko Haram Amao charges personnel to sustain onslaught against criminals Park service: forest reserves now hideout for terrorists, bandits Kingsley Nwezeh and Michael Olugbode in Abuja The United Arab Emirates (UAE) has released the names of six Nigerian financiers of terrrorist group, Boko Haram. The terror sponsors named by the UAE are Abdurrahaman Ado Musa, Salihu Yusuf Adamu, Bashir Ali Yusuf, Muhammed Ibrahim Isa, Ibrahim Ali Alhassan and Surajo Abubakar Muhammad, all Nigerians. The Emirate made the announcement after a federal cabinet meeting in the capital, Abu Dhabi

on Monday, a state-run WAM news agency disclosed. The announcement came as the Chief of the Air Staff, Air Marshal Oladayo Amao has charged personnel of the air component of Operation Hadarin Daji to sustain the onslaught against terrorists and armed bandits in the North-west. This is also as the Conservator General, National Park Service (NPS), Dr. Ibrahim Musa Goni, has raised the alarm that forest reserves and national parks had become hideouts for insurgents and armed bandits. The six terror sponsors were

reportedly placed on the Emirate's watch list. The decision came about a year after the six Nigerians were indicted for sponsoring Boko Haram. A Nigerian government official was alleged said to be involved in sponsorship of the dreaded sect that has killed over 100,000 civilians and security forces and inflicted untold economic damage on the country since its campaign began in 2009. The government official, it was gathered was yet to be publicly identified by the Emirati authorities, amidst claims that there was

mounting diplomatic pressure not to publish the name. At least 47 other foreign nationals and entities were also added to the watch list by the UAE. Meanwhile, the Chief of the Air Staff has charged personnel of the air component of Operation Hadarin Daji to sustain the onslaught against terrorists and armed bandits in the North-west. Amao spoke while on operational tour of Air Component under Operation Hadarin Daji (OPHD) in Zamfara State. He said the present onslaught against bandits and their activities

had continued to yield the expected outcome hence the need to remain focused disciplined and extravigilant until the security situation improves. "This is not the time for you to be complacent or assume that we have overcome the enemy. Rather times like this calls for utmost discipline, alertness and extra focus on the task ahead", he added. A statement by Nigerian Air Force said NAF Special Forces as well as its air element have continued to be key enablers and deciders in the fight against

MALARIA ERADICATION ON THEIR MINDS... L-R: Initiator, Malaria Eradication in Africa, Prince Ned Nwoko; his wife and Nollywood Actress, Regina Daniels Nwoko and President, Republic of Sierra Leone, H.E. PHOTO: KINGSLEY ADEBOYE Julius Maada Wonie Bio, during a courtesy visit to Ned Nwoko in Abuja... yesterday

banditry in the North-west. "Indeed, in the last two months, several bandits have been neutralised through coordinated efforts between the air component, NAF special forces and other security elements in the theatre of operations. "The joint operations, which is in its critical moments, has so far seen to the dislodging of key bandits' leaders and their followers as well as the destruction of their strongholds", it said. Meanwhile, the Conservator General, National Park Service (NPS), Dr. Ibrahim Musa Goni, raised the alarm that forest reserves and national parks had become hideouts for insurgents and armed bandits. Speaking during a courtesy call on the Chief of Defence Staff, Gen. Lucky Irabor in Abuja, he said, "these forest reserves and national parks which are approximately 1,129 square metres have become hideout for bandits and terrorists.” Goni emphasised the need to sustain the existing synergy by working together to tackle the current security challenges facing the nation. Responding, Irabor, who was represented by the Chief of Defence Policy and Plans, Air Vice Marshal Dahiru Sanda, reiterated the commitment of the Armed Forces of Nigeria (AFN) in collaborating with the NPS, describing the service as a key agency in the security architecture of the nation. He maintained that the relevant stakeholders must support the organisation towards ensuring that the forests are well protected against criminalities. The CDS charged NPS on the need to dominate the nation’s forests in terms of intelligence gathering and sharing of information with the military and other security agencies so as to checkmate every form of terror and other crimes.

LAWAN: INSE CU RITY R EMAI N S N IG ER IA’S BI G G EST CH A L L EN G E consideration of the 2022 budget would vote more funds for the military and other security agencies in the country to tackle security challenges facing the country. Meanwhile, President Buhari has sent two bills for the Control of Small Arms, Light Weapons And Explosives in the country to the National Assembly for necessary consideration and passage. The two bills sent via covering letters dated August 26 and 27, 2021 respectively by the President were read Tuesday by President of the Senate, Dr Ahmad Lawan, upon the resumption of Senate plenary after a two-month annual vacation.

In one of the covering letters addressed to the Senate President dated August 26 and titled: "Transmission of the Control of Small Arms and Light Weapons Bill 2021 to the National Assembly for Consideration", the president said he was forwarding the bill for the kind consideration of the Senate in line with Section 58(2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended). "The Control of Small Arms and Light Weapons 2021 seeks to transform the Presidential Committee on Small Arms and Light Weapons into a National Centre for the Control of Small

Arms and Light Weapons under the Office of the National Security Adviser. "National Centre for the Control of Small Arms and Light Weapons, when fully operationalised, would go a long way at expressing Nigeria's optimism and practical commitment to the global fight against the proliferation of Small Arms and Light Weapons, including the mopping up of existing Small Arms and Light Weapons, which have become a significant driver of insecurity across the Federal Republic of Nigeria. "While hoping that this submission will receive the usual expeditious consideration of the Senate,

Please accept, Distinguished Senate President, the assurances of my highest consideration," Buhari said in the first letter. However, in the second covering letter dated August 27 also addressed to the Senate President and titled: "Transmission of the Explosives Bill 2021 to the National Assembly for Consideration", the President said, "Pursuant to section 56(2) of the 1999 Constitution of the Federal Republic of Nigeria (as emended), I forward herewith the Explosives Bill 2021 for the kind consideration by the Senate. "The Explosives Bill 2021 seeks to repeat the Explosives Act 1964 and enact the Explosives Act, to

regulate the manufacture, storage, possession, and distribution, purchase, sale, transportation, importation, and exportation of explanives and for related matters. "While hoping that this submission will receive the usual expeditious consideration of the Senate, Please accept, Distinguished Senate President, the assurances of my highest consideration."

Lawan read the letters during the commencement of plenary.

But Governor Sule, who raised the alarm that the successes being recorded against banditry in parts

VAT: WIKE GOES TO S'COURT, WANTS STAY OF EXECUTION NULLIFIED Status Quo in a suit seeking to determine, who has the right to collect Value Added Tax (VAT) in Rivers State. Justice Stephen Pam of a Federal High Court in Port Harcourt had in a judgment delivered on August 9, held that the Rivers State government and not the Federal Inland Revenue Service (FIRS), had the right to collect VAT and Personal Income Tax in the state. Justice Pam, in the judgment subsequently restrained the Attorney General of the Federation and FIRS (1st and 2nd defendants) from collecting VAT in Rivers and directed the Rivers State government to take charge of the duty. However, the appellate court in a ruling last Friday, ordered all parties that have submitted themselves before the court to maintain status quo ante bellum pending the hearing of an application seeking to stay the judgment of Justice Pam, which restrained FIRS from collecting VAT in Rivers State. FIRS had approached the appel-

late to set aside the judgment of the trial court, pending the hearing of the main suit. The appellant applied for an order for stay of the Federal High Court Judgment and another order of interlocutory injunction restraining Rivers from collecting VAT in the state. In a short ruling, a three member panel of Justices of the appellate court presided by Justice Haruna Tsammani, ordered parties to maintain status quo ante bellum and not to give effect to the judgment of Justice Pam. The order was to enable the court hear Lagos State joinder application before taking the motion for stay and interlocutory injunction. But displeased with the decision, Rivers, on Tuesday approached the Supreme Court to set aside the ruling of the appellate court on grounds that the lower court erred in ordering status after it earlier held that the application for joinder by Lagos State must be heard first before the motion for stay and interlocutory injunction by the FIRS.

The appellant maintained that the appellate court lacks the powers to set aside its own judgment, which held that the Lagos application for joinder must be taken before any other application. They further argued that ordering status quo ante bellum amounts to granting the reliefs being sought by the FIRS, when the main application has not been heard and determined. Among the reliefs being sought was an order dismissing the oral application for interim injunction and another order excusing the panel, which granted the status quo from further hearing of the appeal. Shortly after the court held that it would give priority to the Lagos motion and adjourned for its hearing, counsel to the FIRS, Mr Mahmud Magaji, SAN, made an oral application for interim injunction so as to preserve the res (revenue collection - the main issue). Although this position was opposed by counsel to Rivers and Lagos States, who were yet to be

joined as a party, the three member panel however in a unanimous decision, held that the parties must maintain status quo. In the appeal filed by its lawyer, Mr Emmanuel Ukala, SAN, the Rivers State government argued that the appellate court erred in law, when it ordered maintenance of status quo on a case that was not perishable or has any evidence of being damaged or destroyed. The appellant further argued that the appellate court erred in law when it went outside the reliefs sought by the respondent in its motion on notice filed August 27. They further maintained that the court was wrong in ordering status quo ante bellum after the Rivers State House of Assembly had passed its VAT law, which was assented to by the governor, Nyesom Wike, on August 19. They, therefore, want the court to set aside the ruling of the Justice Tsammani-led panel against the judgment of Justice Pam for being a nullity. The appellate court had held that

the right of Lagos State would be affected adversely if not heard since the appellant had already made allegations against it. While adjourning to September 16 for the hearing of the joinder application by Lagos AG, Justice Tsammani, held that since the application for stay and interlocutory injunction could not be heard, it was only proper to preserve the 'res'. Invoking the powers of the court in line with section 6 of the Constitution, to preserve the res from being dissipated, the court ordered that all those that have submitted themselves before the court should maintain status quo ante bellum. According to the ruling, all parties should refrain themselves from giving effect to the judgment of the Federal High Court, Port Harcourt delivered on August 9, which restrained the FIRS from collecting VAT in Rivers State. He subsequently adjourned to Thursday, September 16 for the hearing of the application for joinder by the Lagos AG.

of the North West posed threat to peace in Nasarawa State, said there was the need for the state to take proactive steps in order to stop the fleeing bandits from taking refuge in Nasarawa State, as well as to afford protection for the people of the state. Sule, who gave the indication, when he summoned a security meeting at the Government House, Lafia, said Nasarawa State government was taking proactive steps to bar fleeing bandits, currently being dislodged by series of military incursions in the North West, from infiltrating the state. While congratulating Buhari, as well as security agencies, for the successes being recorded in the fight against banditry and kidnappings across the country, he expressed worry that the fleeing bandits might seek refuge in mostly inaccessible parts of the state, reminiscent of the outlawed Darussalam sect. "It has become necessary for members of the State Security Council to discuss the security situation across the country and how that affects Nasarawa State. "Recall the Darussalam sect incursion in 2018, when the fleeing sect members, having been dislodged from Niger State, took up refuge in the dense forest areas of Toto Local Government Area of the state," he said. He emphasised that it had become necessary for members of the State Security Council to come together and strategise, with a view to protecting the people. He, however, showed appreciation to security agencies operating in the state for the feat recently recorded, when kidnappers operating along the Akwanga - Jos road were apprehended, leading to the rescue of some of their victims.

WEDNESDAY SEPTEMBER 15, 2021 • T H I S D AY

T H I S D AY • WEDNESDAY, SEPTEMBER 15, 2021

COMMENT

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

A BLOW TO THE BUTCHERS OF OUR PEOPLE

Femi Fani-Kayode argues that the shutting down of communication networks in Zamfara State is a good initiative

n the last few weeks there has been a remarkable and devastating onslaught on the killer bandits and murderous terrorists of North Western Nigeria. Zamfara State has been the model case and other North Western states including Katsina, Kaduna, Sokoto, Jigawa, Kebbi and Niger State have taken the cue and have also risen to the occasion. What the governors of these states have done has been inspiring and has brought hope to millions of people all over the North and indeed all over the country. They have labelled the bandits as terrorists, they have cut off their supplies and supply lines, they have cut off their communication networks, they have freed thousands of captives, they have killed and captured hundreds of terrorists and they have scattered their cells and operations and put them in disarray. I have spoken to countless people in the North West over the last one week and at least three families whose children and relatives were released from captivity and there is a deep sense of relief that at last something is being done. Hope has been restored and the fact that the governors of these states are taking the battle to the gates of the terrorists in conjunction with the DSS, the Army, the Airforce, the Nigerian Police Force and all the other security and Intelligence agencies has proved that once there is a strong resolve and the political will to do something about insurgency and terrorism there is always a way. For this effort we must commend each of the governors of these respective states and particularly the governor of Zamfara, the heads of all our security agencies, the military service chiefs and President Muhammadu Buhari himself. It is incumbent upon us to encourage the federal and state governments when they get things right and to encourage our security agencies and military when they cultivate the courage and take up the initiative and fight the evil that has plagued our land just as it is important for us to tell them when they get things wrong. I sincerely hope that the governors of the states of the South and other parts will also cultivate the political will to take the sort of drastic measures that have been taken by the North Western governors in order to save lives. One of the most innovative and effective measures that has been taken which is unique to Zamfara and which I hear will also be introduced in some of the other North Western states at the soonest is the shutting down of all communication networks within the state.

I WILL STAND SHOULDER TO SHOULDER WITH ANYONE OR ANY GROUP OF PEOPLE THAT WILL FIGHT THE TERRORISTS AND SEND THEM TO HELL WHERE THEY BELONG AND THAT WILL SEEK TO SAVE THE LIVES OF NIGERIANS AND RESTORE PEACE AND SANITY IN OUR LAND

This has totally crippled the terrorists and their kidnapping operations and it has worked wonders. The fact that the Minister of Communications, Professor Isa Pantami, can implement such measures at the behest of the Governor of Zamfara and help in this way speaks volumes for him. No other minister has dealt such a heavy blow to the terrorists over the last six years and none has cultivated the sense of urgency to do so. No matter what anyone says, they cannot take this from Isa Pantami. On this matter he has done very well indeed. The truth that this measure and policy alone has dealt a death blow to banditry and kidnapping in Zamfara and the only thing left to do is to send in the security forces to kill the terrorists which, I have been reliably informed, they are now doing with relative ease. Pantami has done well here and few can deny it. I commend his courage as I do Matawalle’s. Those that believe that this policy ought to be terminated and that the communication lines reconnected at the soonest can best be described as the enemies of Nigeria and the friends of terror. They seek to undermine our security, divide our country, profit from terror, shed the blood of the innocent and take the lives of our people for no just cause. They want to take us back to the dark days of unchallenged terror and carnage and they wish to push our nation over the brink and into the hellish inferno of a second civil war. Worse still they are agents of foreign governments who’s agenda is to utterly destroy our country and turn us into the laughing stock of the world. We know who they are and we will expose them soon. For now we must focus on encouraging those that are doing the right thing, that have risen to the occasion and that have taken the bull by the horns. I will stand shoulder to shoulder with anyone or any group of people that will fight the terrorists and send them to hell where they belong and that will seek to save the lives of Nigerians and restore peace and sanity in our land. Kudos to all those involved in this noble initiative and to those that are still sitting on the fence I say the following: Wake up, rise up to the occasion, grow some balls, enter the field of battle and join hands with others regardless of party affiliation, tribe or faith and let us save Nigeria together. May God help us all. Chief Fani-Kayode is a former Minister of Aviation

FREE METER PROGRAMME AND UNPAID DEBTS The mass metering project is in danger, writes Akintunde Ojetimi

he national mass metering project embarked upon to provide prepaid meters to electricity customers who have suffered from the estimated bills by the distribution companies, known as DISCOS is in very serious danger of failure. It will be recalled that the meter provision end of electricity distribution had always been plagued by non-availability of prepaid meters to consumers who are being exploited on a monthly bases by the marketers of DISCOS who harass them with deliberately high estimated bills. During the tenure of Mr. Babatunde R. Fashola when he combined the portfolios of Power, Works and Housing Ministries (2015 to 2019) a meter program called Meter Assets Provider (MAP) scheme was introduced through the Nigerian Electricity Regulatory Commission (NERC), the main regulatory body in the electricity industry. Although this program and the guiding rules was enacted by NERC in 2018, serious meter installations under this program did not begin until 2019 and it ran through most of 2020 with measured successes in various DISCOS area of franchise. Under this program, consumers of electricity were able to pay for their meters in a joint account run by DISCOS and the MAP entities that import, assemble or manufacture the meters. However, when government made an assessment of the impact of MAP, one of the drawbacks was the inability of many customers to pay for the meters. As the country’s micro and macro-economic indices became more unfavourable for Nigerians (especially with the onset of Covid-19), government intervention in meter provision became necessary. This situation brought the introduction of National Mass Meter Program (NMMP), in which the federal government will enter into contractual agreements with the Meter Assets Providers and the DISCO under whom they operate to provide particular number of meters to be installed for the customer in each location. Under the first stage of this program, a total of one million meters is supposed to be installed (based on a document sighted by this reporter titled: “Analysis of Meter Deployment Across DISCOS Report for the Month of November 2020”). A staff of one of the Lagos-based DISCOS informed me that the total number of meters installed under this first stage of

mass meters is still being compiled by the NERC but that everyone is preparing for the second stage of mass meter deployment, as government recorded high success in the first stage. Unfortunately, the take-off of the second stage may not happen so soon, as feelers from operators in the meter business (MAP companies) are owed huge sums of money by the government after the conclusion of the first stage. As a result of this debt being owed by government, many of the MAP companies who supplied the meters on behalf of government also owe those who supplied goods (mostly the various parts that make up a complete meter, like circuit breakers, seals, wires, etc.) and also those who provided services by the installing of the meters. This reporter made various attempts to contact the different meter importers and manufacturers for confirmation of this development but none was prepared to volunteer any information. One of the foreign based meter manufacturer whose chief executive was sent email about three weeks ago by this reporter refused to respond. Also, a major Nigerian-owned meter manufacturer with meter supply contracts under a lot of DISCOS refused to respond to questions about the debt situation but a key staff who wishes to remain unanimous admitted that they are owing their contractors but the amount poses no problem to the company as they are in a position to offset debts owed, with or without government paying the balance owed them. The same source also confirmed that they had settled the bulk of debts to its contractors at the end of the first stage of the program. Other MAP companies contacted also failed to shed more light on this situation as they were not prepared to volunteer any information. However, a source in NERC directed this reporter to the Presidency, Ministry of Power and the Central Bank of Nigeria to know why the debts owed have not been settled. The same source claimed that the amount being owed to the meter supply companies should not prevent them from paying their contractors as they are expected to have a level of healthy cash flow based on the contracts entered into with them on one hand and government on the other hand. Probing this source further, it was revealed that most of the MAP meter suppliers had received various huge sums from government but immediately took those funds

out of the country under the guise of procuring more meters. What government expected of the companies was to reserve a fraction of those funds in Nigeria to help them take care of the liabilities of those who supplied goods and services to them. Our NERC source also disclosed that an investigation is ongoing to know what each company has been paid so far, how much has been moved out of the country and what is outstanding for settlement by government. The source, which said the exact amount owed each company by government cannot be verified from NERC’s end, disclosed that it is not so much to the level of stopping the meter suppliers from discharging their financial duties to small companies under them. The source further claimed that this administration had done a whole lot in the area of providing prepaid meters to Nigerians as no previous government had considered this action as the right step to ensuring steady power supply. Government had paid several billions of Naira to the MAP Meter suppliers and this should have trickled down to the small companies under them. I have not been able to speak with anyone from the Presidency, Ministry of Power or CBN, despite various efforts at making contact with the relevant officials as at the time of writing but it is hoped that government will address all the issues when this article is published to enable the public have its own side of the story. Some of the contractors spoken to expressed reluctance in resuming the provision of services to the MAP meter suppliers if their debts are not paid, since many of these small companies are facing financial crisis. Many of them owe their workers and finance companies and banks from which they borrowed money to execute jobs for the MAPs. Given the situation most of these contractors have found themselves, the important poser to the MAP companies is that why are they linking the payment due to these small companies to the debts owed them by government? The contract they signed with government has nothing to do with the contracts of supply they signed with the small companies. Most of these poor businesses being owed by the MAP companies are afraid of going to court to seek justice because of the fear of being victimized as they would not want their means of future business to be truncated by the bigger MAP

companies who would likely band together through their Association (named Association of Meter Asset Provider Companies) to blacklist the small contractor who dares to make such suicidal move. Therefore, it is the consumer of electricity who is expecting to be provided prepaid meters upon the start of the next stage of mass meter that will be the ultimate looser in this unfolding drama. This reporter sincerely believes that the government will urgently look into these debt issues and quickly deal with it before it is too late. It is very wrong for parties in a contract not to follow the letters of that contract. This is how past governments have behaved and ended up paying judgment debts to many unfulfilled contracts. It has become the normal thing in Nigeria that the bigger an organisation thinks it is, the more it wants to disobey the tenets of agreements signed with small companies. Even foreign companies operating in Nigeria quickly imbibe such bad behavior against small contracting companies working under it. And the nature of our legal system is permissive of such bad behaviour. An online research done by this reporter shows that other African countries like Ghana, Kenya, Rwanda, Tanzania, Zambia and several Francophone countries take the protection of their small businesses very serious. They have worked very hard to ensure that no entity, no matter how big, can owe their small businesses beyond the agreed date. Not so in Nigeria. Even some of the business agreements signed between the MAP companies and the smaller service companies can only be compared to modern slavery. An agreement sighted by this reporter between a major MAP company operating under Ibadan DISCO and the small meter installation company will bring revulsion to any fair human. Some sections of this agreement only betray the MAP company as being unwilling to meet up with its obligations. The big companies bully and intimidate the struggling small businesses trying to break even. At the end, it is only the country that will be the bigger looser. All over the world, small businesses are responsible for over 40 per cent of employment, especially “blue collar” jobs. But when the harsh operating environment is killing off these small businesses on a daily basis, where would the employment and regeneration of the country’s economy emerge?

T H I S D AY • WEDNESDAY, SEPTEMBER 15, 2021

EDITORIAL

CLIMATE CHANGE AND FLOODS Nigerians should pay more attention to their environment

rom China to Germany to United States and several other countries across the world, millions of people are counting their losses with thousands of lives already lost as heavy rains, accompanied by storms wreak havocs. In many of the major cities, streets have been turned into rivers while train stations, airports and other critical infrastructure have been submerged. It is not as if our country has been insulated from the deluge. In recent weeks, several villages, schools, and farmlands have also been submerged as more Nigerians join the growing population of internally displaced. Instructively, while Nigeria has many challenges, environment is not often listed as one of them. That only shows our lackadaisical disposition to serious issues. It is therefore time Nigeria became part of the global trend of putting issues of the environment on the front burner while the relevant authorities should be more proactive, especially in the prevention of natural disasters. And when they inevitably occur, governments at all tiers, IT IS TIME NIGERIA complemented by BECAME PART OF THE private organisations and well-endowed GLOBAL TREND OF individuals should PUTTING ISSUES OF come to the aid of the THE ENVIRONMENT ON victims as we have THE FRONT BURNER seen in other parts of WHILE THE RELEVANT the world. AUTHORITIES SHOULD Meanwhile, BE MORE PROACTIVE, elementary science ESPECIALLY IN THE teaches that as global PREVENTION OF NATURAL temperatures rise, DISASTERS oceans get warmer and when water heats up, it expands and sea levels rise as we have been witnessing in several countries in recent times. It is therefore no surprise that in several coastal cities across the world, climate change is creating a situation where too much water comes at an unexpected time, or in unexpected places causing

serious problem. It is little wonder that the densely populated, low-lying cities and towns in the country have also become an environmental nightmare for most of the inhabitants on account of ﬂooding.

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

owever, beyond the intervention of the government at all levels, there is the need for Nigerians to begin to imbibe the correct attitude to waste disposal because flooding in some of our major cities cannot be solely explained by the factor of nature. The habit of the people indeed plays a crucial role in what has been happening over the years anytime it rains. Most of the drains are blocked due to the indiscriminate dumping on roads and drainages disposable empty cans, pure water nylons, among others. This dirty attitude quite naturally leads to blockages of canals and manholes resulting in the type of floods that have been witnessed in recent weeks. For instance, Lagos presents a clear example in this regard as most flood-prone areas are replete with buildings erected on water channels. This ugly trend must stop while the state government should ensure that all those buildings are pulled down for the free flow of water into canals. However, it is not enough for the government to just ask citizens to leave their houses built on flood path without providing compensations or any measures for their relocation, especially if those buildings have all the requisite permits which suggest that the owners are not to blame. Also, there is need for the authorities to resettle those living in flood-prone areas, especially in situations where that is the only solution for dealing with the problem. Naturally, there will be resistance from people who would not like to move from their present habitat, but they must be made to realise the consequences of whatever choice they make between accepting to be resettled or risking their lives. In the final analysis, Nigerians must come to terms with the fact that we are at a period in history when the forces of nature are raging, and we must be prepared to deal with them.

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ON VAT AND FEDERALISM

n recent times our media space has been inundated with various arguments on taxation and I love the conversations because it would deepen the public space. A lot of people have cited India and Canada in their arguments saying they have a federal VAT system but I am quick to see holes in that argument. How does the tax system in Canada work? Generally, the federal goods and services tax (GST) applies to taxable goods and services supplied in Canada. The harmonized sales tax (HST) is a blended federal/provincial sales tax that includes a 5 percent federal component and a provincial component of 8 percent or 10 percent. HST applies in the provinces of Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador. The province of Québec applies its own value added tax, the Québec sales tax (QST). The provinces of British Columbia, Saskatchewan and Manitoba levy provincial sales taxes (PST), also known as retail sales taxes, in their respective jurisdictions. So I am taken aback when people made the strong argument that there is a single VAT in Canada, but they forget the harmonized system that still largely favours the provinces for their upkeep. I believe federalism should be about empowerment of the states and that has always been the case in Nigeria. Each region should use its own resources. The 1963 Constitution clearly spells out how much percentage each region will give the federal government and they had access to their resources and developed at their own pace. We had the groundnut pyramid in the North and cocoa in the south. I wonder if the federal government collected VAT on cocoa in the western region. I really beg to ask what is the federal government afraid of? I believe this will help states develop. I have

always argued that states like Borno can make billions from Gum Arabic and other products. It is incumbent on everyone to look inward and see it as a blessing. Even when some analysts make the argument of input and output taxes across state lines I respond by saying we already had those multiple taxation regimes already in Lagos for instance despite the fact that VAT is 7.5% .I pay 12.5% on every restaurant visit because of Lagos’ 5% consumption tax. So why not harmonize the system and have the states collect 7.5% and stop over-burdening the businesses? The problems of input and output can be solved with calibrated iterations and really the system of inward and output works in a society that has a robust tax credit system and I doubt that in Nigeria. Please correct me if I am wrong. By my analysis the federal government collects over N700 billion through VAT from the ports and through contracts due the rest from the states. The federal government can set up a fund that reinvest that into key beneficial national projects or use it to bail out states that are trapped. For us to grow we must innovate and sometimes the weak must suffer what they must. When Malaysia pulled the plug on Singapore it only made Singapore think deeper and today they have become economic miracles and for those that support the GST taxation model in India to support the case for FIRS in Nigeria. There are many reports to read on the failure of the GST and how it has increased tax evasion. I believe the states can manage the collection of taxes effectively and the states should be given a chance. What if the states increase the revenue threshold and collect better than the FIRS? But I ask: what is the federal government really afraid of? Rufai Oseni, rufaioseni@gmail.com

ATTENTION: TORO GENERAL HOSPITAL

want to appeal to the Bauchi State government, Ministry of Health, the state’s Hospital Management Board as well as the Department of State Services (DSS) to urgently verify and disclose to the public the whereabout of some sophisticated equipment of Toro General Hospital. This came as result of the ongoing controversies generated among Toro populace that there are unscrupulous elements who are auctioning the hospital equipment through the backdoor, claiming to have got permission from the state government. What bothers the public is how government could order an auction of hospital equipment without providing an alternative at a time of a pandemic. Consequently, the equipment auctioned added to the people’s predicament in Toro local government and beyond, as the facility had been shared by nearly four local governments. Presently, people have to rush to Abubakar Tafawa Balewa University Teaching Hospital and Specialist Hospital in Bauchi metropolis before getting an adequate medical attention, including emergency cases. Considering the above, we want the Bauchi State government, ministry of health as well as the state Hospital Management Board to tell the public why the general hospital equipment was auctioned. Comrade Toro, Toro LGA, Bauchi state

WEDNESDAY SEPTEMBER 15, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY SEPTEMBER 15, 2021

MIDWEEKPOLITICS

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

Abdulrazaq: An Emerging North Central Star Achievements of the Kwara State Governor, Abdulrahman Abdulrazaq, not only speak for him but fast changing the narrative of the state, writes Nseobong Okon-Ekong

little while ago, Governor Abdulrahman Abdulrazaq of Kwara State was mainly in the news for the many battles to retrieve government funds or property from his predecessor, former Governor Abdulfatah Ahmed. The fire of the probe has not been put out altogether yet. Every now and a new discovery is made to stoke the fire. Of course, there was the very emotional clash with the immediate past Senate President and former Governor of the state, Dr. Bukola Saraki, over the demolition of Ile-Arugbo, (Old People’s Home), a decision taken by the Committee on Review of Property of Kwara State Government in 2019 to reclaim the plots of land acquired by the Sarakis. Located directly opposite the family house of the Sarakis in Ilorin, the Kwara State capital, the older Saraki, Dr. Olusola Saraki, father of Bukola acquired and built on the land to cater to needs of elderly people who visited him during his lifetime. The Committee discovered that in1970, the state acquired the land for the construction of the phase II of its secretariat. The plan was aborted midway. Given that Abdulrazaq had only been in office for about two months, Saraki labelled the exercise a witch-hunt, that continued the age-old rivalry between the Saraki and Abdulrazaq families. Many sympathized with him, but the government stuck to its guns and weathered the attendant storm of bad publicity. But the most devastating challenge yet against his government has, surprisingly, been instituted by members of his own political family, the All Progressives Congress (APC). Abdulrazaq benefitted from an unbelievable change of political fortune in Kwara, propelled by a political whirlwind, known as, O To Ge (Enough is Enough). No sooner was Abdulrazaq enthroned than a faction the Kwara APC championed by Information Minister, Alhaji Lai Mohammed and Minister of State for Transportation, Senator Gbemi Saraki emerged to demand a fair of cabinet appointments and fulfilmentof other promises they claimed the governor had reneged on. The struggle for the soul of the party between the Mohammed/Gbemi Saraki faction and Governor Abdulrazaq has been bitter and very exhausting. To many leaders, this gruesome distraction would have been enough reason to excuse oneself from concentrating on the job at hand, but the Kwara Governor has demonstrated that he came prepared to the office and that his attention could not be diverted from the goal to deliver quality service to the people of Kwara. Abdulrazaq has approached his job of governance in Kwara with the attitude of one who knows that history may be kind to him. It is 840 days since May 29, 2019 when Abdulrazaq became Governor of Kwara State. In that space of time, he has set about upturning the previous unwholesome status of the state with the deliberateness of a game changer. The counterpart funding for access to funds to reverse the trend of basic education which had given Kwara the bad name of the state with the most number of out-ofschool-children in the country has been achieved. School enrollment figures have since gone up, along with training and recruitment of quality teachers and the building of new classroom blocks. AbdulRazaq disclosed that the state government has accessed N7 billion grant from the Universal Basic Education Commission (UBEC) to finance massive infrastructural projects across 600 schools in the state. The governor said the projects are a combination of the 2014 to 2019 Universal Basic Education Commission-SUBEB interventions that got stuck as a result of the

Abdulrazaq previous administration not fulfilling its obligations, as well as diverting the matching grants it received in 2013. According to him, “the projects include statewide wholesale remodelling of schools, construction of new classrooms, rehabilitation of existing ones, construction of water, sanitation and hygiene (WASH) facilities, information and communication facilities, and training and retraining of teachers.” For this and many other laudable achievements which have recommended Abdulrazaq as an emerging shinning star from the North-central, Leadership Newspaper recently bestowed on him The Governor of the Year 2020. He was chosen after the board of Editors vetted all aspects of his administration, from which his sterling leadership performance was determined to be the most outstanding of the nominees. Governor Abdulrahman Abdulrazaq has redefined governance in Nigeria by assessing , evaluating and restruc-

turing all facets of the administration of the 16 local government areas of Kwara state. Flights to Ilorin are becoming more frequent as a result of the multitude of economic activities like construction going on in the state. The Kwara State Internal Revenue Service (KW-IRS) recently disclosed that it has raked in a total of N9.5 billion in the first quarter of 2021, out of the N29 billion target it had set for the year. The Executive Chairman of the agency, Mrs. Shade Omoniyi, said the achievement recorded was due to adoption of technology and steady blockage of leakages within the tax administration system. According to her, “The increase in the revenue generated under review remain its figure highest ever collected by the agency without any extraordinary item at any quarter since its founding in 2016.” She said, “The first quarter col-

To many leaders, this gruesome distraction would have been enough reason to excuse oneself from concentrating on the job at hand, but the Kwara Governor has demonstrated that he came prepared to the office and that his attention could not be diverted from the goal to deliver quality service to the people of Kwara

lections show steady and significant growth, month-on-month as indicated below: January- N2, 984,312,074.60; February – N3,058,746,474.21; March – N3,555,446,391.09; totaling N9,598 billion. The Governor on resumption , was faced with a lot of challenges in the state from decaying infrastructure to a crippling educational sector . The Governor was able to tackle each issue head-on resulting in a dynamic change in all sectors of Kwara state. Highest number of Health consultants employed in the state , Eight state of the art ambulances. Ilorin general hospital accreditation to train resident doctors. Also the state has the largest ICU center in central Nigeria today.First ever infectious disease center in the state with ventilators , defibrillators , oxygen concentrators etc . Recruitment of 155 new health workers , with 46 already being deployed to various parts of the state . Renovation and equipping 27 PHC across the state . Education has received a boast by having a recruitment system fueled purely by merit . Creation of various public water facilities across the state.Creation of social service programme ( KWASSIP) , the most ICT driven in the country This administration has created the first agricultural master plan for development that will be effective for the next ten years. Also his administration is the most gender/ age inclusive administration in Nigeria today. He has exceeded his administration’s milestone goals in the areas of capacity building , infrastructural development , quality education, poverty alleviation and state security.

T H I S D AY ˾ WEDNESDAY SEPTEMBER 15, 2021

POLITICS

How Imo Attorney General is Battling to Save His Name

GOVERNANCE IN PHOTOS

The Attorney General and Commissioner for Justice, Imo State, Chief Cyprian O. C. Akaolisa, was recently suspended by the Legal Practitioners’ Disciplinary Committee for alleged intrusion in the case of one of his former clients. Amby Uneze goes behind the scene to uncover what might be wrong

Akaolisa

hen the Legal Practitioners’ Disciplinary Committee (LPDC) of the Nigerian Bar Association (NBA) slammed a five-year ban on the Attorney General and Commissioner for Justice of Imo State, Chief Cyprian .Okechukwu Akaolisa, it stunned the judiciary and the bar in the state. Their bewilderment was based on the fact that Akaolisa been a notable legal practitioner in the state. His antecedent and forthrightness as a lawyer has not been in doubt. Therefore, the five-year suspension from legal practice was shocking. His appointment as the Attorney General and Commissioner for Justice was generally applauded and many described it as a round peg in a round hole. No doubt, he enjoys the support of the bench and the bar considering his integrity and relationship with all. He is not only a lawyer but also a well known political figure in Orsu local government area where he hails from as well as in the state. Perhaps, his reputation rose as a result of his love for the provision of free (probono) legal services to the deprived, less-privileged and the incapacitated. His interest in human rights activism, especially in defending the defenseless in society has attracted him to many. Having put in about 34 years in general advocacy and civil litigation with special interest in election petitions, he also was one-time local government chairman, legal adviser to political parties including the defunct Socoal Democratic Party (SDP), then Peoples Democratic Party (PDP) at different times. When the Legal Practitioners’ Disciplinary Committee (LPDC) found him guilty of the allegation against him and consequently placed him on a five-year ban from July 2021, he went berserk with anger. His alleged offence was that he used his position to procure a bail of one Paulinus Nwawochie who used to be his client and also an accused person in a murder case. The LPDC’s conclusion on his case was perceived to be ‘draconian’. Some senior lawyers who pleaded anonymity told THISDAY that the decision of LPDC was could be rationalised in the sense that the committee did not thoroughly examine all evidence available to it before nailing the respondent. However, the ruling of LPDC or the Body of Benchers in Suit No. BB/LPDC/267/2020 has been appealed against in the Supreme Court. Akaoilsa is challenging the suspension. In his Notice of Appeal, Order 8, Rule 2 was cited as basis. His lawyers, Messrs

Awa U. Kalu, a Senior Advocate of Nigeria (SAN), K.C.O. Njemanze (SAN) and six others have observed that “the learned chairman and members of the committee erred in law when they found the appellant ‘guilty of infamous conduct’ contrary to Rules 1 and 30 and punishable under Rule 55(1) of the Rules of Professional Conduct for Legal Practitioners 2007.” The Appellant therefore, stated that while he (as Respondent) does not dispute the scope of the rules of professional conduct save to state that as long as the conduct of the Appellant (as Respondent) sought to be impugned fell within the office of Attorney General, the committee had no jurisdiction to try him for misconduct. Another ground of appeal was on the accusation by the committee that the appellant (as respondent) ‘bulldozing’ the release of his client charged with murder on bail, against all legal and procedural odds, by misuse of his power as the Attorney-General was not only an adverse intrusion to administration of justice but was not shown to have been made in good faith. The appellant stated that there was no valid reason for the decision of the committee to accuse him of ‘bulldozing’ the release of the ‘client’ when as the Attorney-General he was no longer acting for the person described as ‘client.’” The Appellant also accused the committee of erring in law by not hearing from the Chief Judge of Imo State or one Justice Ikpeama who granted the bail to the ‘client’ in order to come to a conclusion of ‘bulldozing’. The Appellant also averred that the affidavit evidence of the Applicant was made up of speculations, conjectures, farfetched and incredible averments. Also it is imperative in this case, to observe according to the Appellant that the Chief Judge of Imo State and Honourable Justice P.C. Ikpeama are independent judicial officers who are not under the control, direction and or supervision of the Appellant, adding that the bail granted to the accused person in charge No. HOR/32C/2013 in the month of August 2020 was by a Court of competent jurisdiction in exercise of his discretion under the law. The Chief Judge of the state in exercise of his powers transferred the case to Hon. Justice P.C. Ikpeama and the accused person was released on bail by Justice Ikpeama and not under the Appellant’s instrumentality. Again, the Appellant states that the jail delivery which prompted the granting of the bail to the accused person was undertaken by the Chief Judge of the state based on the orders of the Federal Government represented by the Correctional Centre (a Federal establishment). The list of persons for the jail delivery was forwarded to the Attorney-General where he did not make any input save for official protocol’s sake. Instructively, the same accused person in charge No. HOR/32C/2013 was included in the jail delivery list. However, the Appellant is seeking that the Supreme Court set aside the findings and direction of the LPDC which was dated 9th July, 2021 annul and set aside the suspension of the Appellant for five years. THISDAY investigation revealed that the Medical Doctor/Consultant Physician incharge of Medical Services of the Imo State Correctional Command, Dr. I.S. Chukwuezi in his medical report of the accused person, Paulinus Nwawochie dated 21st April, 2020 stated that “the health condition of the accused person was quite critical and may terminate in death.”. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Dr. Chris Akomas (L), a former Deputy Governor of Abia State and the Federal Commissioner representing Abia State in the Revenue Mobilization, Allocation and Fiscal Commission with Governor Okezie Ikpeazu at Governor’s Lodge, Aba

Valentine Ozigbo, the Peoples Democratic Party (PDP) ﬂag-bearer in the 2021 Anambra governorship election (L), exchanges pleasantries with His Royal Highness, Igwe Damian Ezeani, the traditional ruler of Neni at the celebration of the 2021 Neni New Yam Festival held at the Igwe’s palace in Neni, Anaocha LGA in Anambra State

L-R: Chief of Staff to the Chief of Army Staff (COS-COAS), Brig- Gen. A.M. Umar; Chief of Logistics (Army), Maj- Gen A.O. Akintade; Ekiti State Governor/Chairman Nigeria Governors’ Forum, Dr Kayode Fayemi; Chief of Army Staff , Lt- Gen. Farouk Yahaya; Chief of Policy and Plans, Maj- Gen. A.B. Omozoje; and Deputy Director of Planning, Brig-Gen. I.M. Ahmadu; during the Governor’s visit to the COAS in Abuja

Mr. David Edevbie, former Chief of Staﬀ, Delta State (left) and Governor Ifeanyi Okowa at a strategic community stakeholders meeting at Asaba recently

T H I S D AY ˾ WEDNESDAY SEPTEMBER 15, 2021

FEATURES

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

Enhancing Nigeria’s Maritime Security for Improved National Prosperity The maritime domain is a resource provider and critical contributor to growth and prosperity of the countries lining its coasts as well as those inwards due to the access its grants them. Therefore, to enhance national prosperity, as well as address the myriad threats of piracy, crude oil theft and illegal fishing, the Nigerian Navy recently held the 2021 Chief of Naval Staff Conference, Chiemelie Ezeobi reports

The CNS and Gorvenor Ganduje at the government house

Career talk at Gwagwarwa Primary School and Rumfa College

“W

hoever commands the sea, commands the trade; whoever commands the trade of the world commands the riches of the world and consequently the world itself”. The above quote was credited to Walter Raleigh by the Chief of the Naval Staff (CNS) of the Nigerian Navy (NN) at the recent 2021 Chief of the Naval Staff Conference (CONSAC) held at Coronation Hall of Kano State government house, Kano. Rich Resources The quote by the CNS was quite expedient given the rich resources the nation has been blessed with. According to the 2020 report from the Nigerian National Petroleum Corporation (NNPC), Nigeria’s maritime environment is rich in hydrocarbon deposits with proven oil reserves of about 28.2 billion barrels representing 1.63 per cent of total global oil reserves and 165 trillion standard cubic feet (scf) natural gas reserves. Essentially, the oil and gas sector accounts for about 10 per cent of the Gross Domestic Product (GDP) and petroleum exports revenue represents about 86 per cent of total exports revenue of the country as postulated by Organisation of Petroleum Exporting Countries (OPEC) this year. Besides crude oil, other mineral resources such as manganese nodules, copper, natural gas, Diamonds, Bitumen, Copper, Uranium, Granit, Quartz, Lead, Fluorite, Marble, as well as fishery resources abound. Territorial Integrity In the scheme of things, especially when it comes to its maritime territorial Integrity, Nigeria claims a Territorial Sea of 12 nautical miles (nm) along its coastline of about 420 nm and an Exclusive Economic Zone (EEZ) of up to 200 nm from the baseline. Additionally, Nigeria has filed claims for an extended continental shelf up to 350 nm. Accordingly, this translates to about 5,040 square (sq) nm of sovereign territory, 84,000 sq nm of EEZ and about 147,000 sq nm of continental shelf, which is about one-third of Nigeria’s land mass. All these borders the Gulf of Guinea (GoG) waters. Lying across 19 coastal and island states, the GoG coastline, stretches from the waters off Senegal to the south of Angola, and is essentially an enviable treasure trove of rich resources as its waters covers 2.3 million square kilometers (888,000 square miles) and borders more than a dozen countries. Comprising 26 countries grouped into two Regional Economic Communities (RECs) namely -Economic Community of Central African States (ECCAS, 11 states with the return of Rwanda) and Economic Community of West African States

CNS and NOWA National President, Hajia Aisha Gambo ﬂanked by other senior oﬃcers at the cocktail (ECOWAS; 15 states), it covers a surface area of 11,755,258 square kilometers, including a coastline of over 6000 kilometres from Senegal to Angola. Trade Volume Undoubtedly, Nigeria occupies strategic location in international seaborne trade along the Gulf of Guinea (GOG). Resource-wise, the GoG countries have an estimated 24 billion barrels of crude oil reserves, that is five per cent of global reserves at five million barrels of crude oil per day. Also, the GoG is also the primary conduit of international trade and is central to the economy of the associated regions. It is increasingly looked upon today as resource provider and critical contributor to national growth and prosperity of the several nations lining its coasts and even those landward and with no shared boundaries. On the average, Nigeria has an average of 5,000 vessel calls a year, which is approximately 70 per cent of the total cargo traffic to West and Central Africa combined. Furthermore, over 60 per cent of Nigeria’s external trade both in terms of volume and value are transported by sea as the region’s waterways serve as key navigational routes for international

commerce, connecting countries as the hub of extensive trans-Atlantic trade. Diverse Maritime Threats Essentially, the safe passage of ship and goods is among the nation’s vital maritime interests. Thus, any threat to law and order in Nigeria’s maritime environment is a direct threat to the country’s economic well-being and by extension its national development. But despite its rich throve of resources, the GoG waters face diverse maritime threats. It's more alarming given that the maritime environment is one of the mainstays of the Nigerian economy. It is a given that these diverse threats of insecurity has over the years been a considerable source of concern as the nation’s network of oil and gas installations as well as associated shipping have been threatened by maritime crimes such as piracy, sea robbery, Crude Oil Theft (COT), illegal oil bunkering, smuggling, Illegal Unreported and Unregulated (IUU) Fishing, militancy and kidnapping for ransom. CONSAC Therefore, 'Enhancing Maritime Security was the thrust of the recently held 2021 CONSAC. It is pertinent to state that the

Essentially, the safe passage of ship and goods is among the nation’s vital maritime interests. Thus, any threat to law and order in Nigeria’s maritime environment is a direct threat to the country’s economic well-being and by extension its national development

conference was preceded by a number of key activities like the career talks and medical rhapsody, various courtesy calls to the traditional ruler and the governor, then the CNS Lecture and Cocktail afterwards before the conference proper. Afterwards, it was ended by the gala night, the golf kitty and guided tour of the town. Over the course of the two-day period, there were five presentations and they include- Improving National Maritime Domain Awareness through Inter-Agency Cooperation: Models, Policy Options and Strategies; and Nigerian Navy Fleet Maintenance Culture: An Appraisal of Naval Engineering Commitment and System Ownership; Others include Harnessing Nigeria’s ShipBuilding Capability for Improved Maritime Security and National Prosperity; Enhancing Collaboration amongst Maritime Stakeholders for Improved Maritime Security in Nigeria; and Girl Child Education: A Strategy for Enhanced Gender Equality in the Nigerian Security Sector. The conference commenced with the opening remarks presented by the Chief of Policy and Plans (CPPLANS), Rear Admiral Christian Ezekobe, followed by a welcome address from the CNS. The keynote address was delivered by the Governor of Kano State, Dr Abdullahi Umar Ganduje, which set the stage for the first presentation of the day made by Cdre SD Atakpa and entitled, “Nigeria’s Blue Economy Potentials for Sustainable Development: The Role of the NN”. The panel session was elegantly anchored by Rear Admiral Ajani (Rtd). In attendance, both physically and virtually, were several dignitaries including Emirs and Royal Fathers from the Kano Emirates, former Chiefs of the Naval Staff, some members of the diplomatic community, Senators, Federal and State Representatives, Heads of government agencies, captains of industry, members of the public and the press. Overall, the conference had more than 500 registered delegates and over 3,000 live viewers via different online portals, the largest audience for any event of this nature in the NN. Setting the tone for discussions, Governor Ganduje urged delegates to take ownership of the conference so that it would yield implementable strategies to enhance Nigeria's maritime security synergy for sustainable socio-economic development. Similarly, Defence Minister, Major General Bashir Magashi (rtd), acknowledged the challenges the navy was facing as a result of inadequate equipment, assuring that the government was working hard to addressed the issue. He said: "It is important to mention that notwithstanding the deficiencies in equipment holding, as a service you have diligently discharged your constitutional mandates. To this end, the current administration has demonstrated great commitment to addressing the challenges of

T H I S D AY ˾ WEDNESDAY SEPTEMBER 15, 2021

FEATURES

Governor Ganduje, the CNS, BUK VC and DVC, as well as other senior naval oﬃcers after Vice Admiral Gambo's lecture at BUK

The service chiefs, National Assembly members and traditional rulers at the conference

L-R: Rear Admiral T Dick (Rtd), Rear Admiral Joseph Oluwole (Rtd), Rear Admiral Henry Babalola (Rtd), Rear Admiral Levi and DG NIMASA, all panelists at the conference

L-R: Managing Director, Ocean Marine Solutions (OMS), Rear Admiral AMEN Ikioda (rdt); former Commandant NDC, Rear Admiral Ilesanmi Alade (rtd); and Rear Admiral Joseph Oluwole (rtd)

the Nigerian Navy as testified in recent fleet acquisitions. "The federal government is working assiduously to ensure that your past operational challenges regarding insufficient equipment and manpower become a thing of the past, soonest," he said. The minister appreciated the untiring efforts of the Nigerian Navy which has seen to the reduction of crude oil theft, violent crimes and other illegalities in the nation's maritime domain, just as he applauded the service's initiative in inviting stakeholders to be part of the annual deliberations aimed at consolidating on the country's common maritime security. Maritime Governance Architecture Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, who presented the paper titled "Enhancing Collaboration Amongst Maritime Stakeholders for Improved Maritime Security in Nigeria," advocated for a robust maritime governance architecture in the areas of ships/boats building, fleet ownership and expansion, indigenous cargo affreightment, offshore/floating facilities spareparts and maintenance, freshwater bunkering and supply, bunker oils supply, aquaculture, fauna and flora, channel dredging, inland waterways and transportation. Jamoh Iisted governance, infrastructure and maritime security as the enabling triangle for the realisation of safety and security for national development, just as he highlighted the negative consequences of maritime crimes on national growth and development, just as he emphasised the need to plug leakages. Role of the Nigerian Navy Who better to understand these threats and the danger they portend to the economies of the nation than the Nigerian Navy. In its role, the NN continuously seeks to emplace measures to optimise the nexus of domain awareness, capacity and partnership to ensure maritime safety and security. According to Vice Admiral Gambo, the strategic relevance of the nation’s maritime environment and the role it plays in national development and prosperity of the nation has been proven over the years. Presenting his lecture at Bayero University, Kano (BUK) the CNS, who addressed the "Roles and Activities of the Nigerian Navy Towards National Development", noted that "the environment is however prone to diverse contemporary threats which portend dangers to the nation’s wellbeing and security if not curbed. Hence, the NN has made efforts to counter these threats

through the maintenance of credible and effective presence within our maritime area to ensure a secured and conducive domain for enhanced national development. "It is worthy to note that despite a harsh fiscal environment, the federal government has remained committed to enhancing the response capability of the NN through the acquisition of more patrol vessels and aircraft. The NN is proactive towards guaranteeing that the nation’s maritime environment is safe and open to legitimate activities through the emplacement of appropriate strategies. "This resolve is anchored on the fact that the nation’s maritime domain will continue to be of strategic importance due to its inherent resources and use for global trading activities," he added. Noting that the service has ensured sustained patrols to curb maritime crimes and criminality, he said this year alone, the navy has recorded over 15,000 hours at sea, compared to the 27,758 hours recorded throughout last year. "These initiatives have engendered several recorded successes in anti-piracy operations of the NN, For instance, from a high of 89 pirate attacks recorded in the Gulf of Guinea (GoG) and 70 in Nigerian waters for 2016, the GoG in 2020 witnessed 44 cases with 22 in Nigerian waters. "Furthermore, from January to August 2021, there were 10 pirate attacks in the GoG with only five within Nigeria’s waters. It is instructive to note that most of the attempted attacks in Nigerian waters were unsuccessful owing to the prompt response by NN ships on patrol using a robust Maritime Domain Awareness (MDA) infrastructure. "These patrol efforts coupled with maintenance of credible presence at sea has contributed to boosting shippers’ confidence and making our sea safer. Accordingly, on 14 Jul 2021, the International Maritime Bureau (IMB) global piracy report indicates the lowest total of piracy attacks and robbery against ships in 27 years," he said. Through the NN's Operation CALM WATERS and the government joint operation, SWIFT RESPONSE, Gambo said

anti-smuggling efforts were intensified such that 79,817 bags of smuggled foreign rice equivalent to about N1.6b have been seized since 2015. "For instance, in 2019, the NN arrested 24,935 bags of smuggled foreign rice and 25,601 bags in 2020. However, from January to July 2021, the NN has so far arrested 2,137 bags of smuggled foreign rice only. This brings the total number of foreign bags of rice arrested since 2015 to 79,817 bags which is equivalent to about 1.6 billion. Within the same period, 152 tankers/trucks and 405 vehicles involved in smuggling activities were also impounded. "NN has been involved in the fight against Crude Oil Theft (COT) and illegal oil bunkering through operations conducted by its operations bases. The NN’s increased presence at sea and activation of Choke Point Management and Control Operations are yielding some results in countering the incidences of crude theft. "For instance, from 2015 to July 2021, the NN has arrested 4,280 suspects with 439 arrested between January and July 2021 alone. A total of 165 illegal refining sites were destroyed during Anti-COT/illegal bunkering operations. "In summary, the quantity of crude oil recovered from illegal refineries and illegal bunkerers in 2020/2021 is about three million barrels, including about 572,331 litres of Automotive Gas Oil (AGO), 34, 260 litres of Premium Motor Spirit (PMS) and 3,599,551 litres of Dual Purpose Kerosene (DPK) all illegally refined with a total value of about N87.5 billion." Resolutions After each presentation, various panel and interactive sessions provided analytical inputs and sound contributions from the distinguished panellists and audience respectively. Also, suggestions and recommendations were made, many of them critical enough to warrant additional reflexions. At the end, the resolutions reached were that while legislative initiatives by the National Assembly are desirable to

The Nigerian Navy has made efforts to counter these threats through the maintenance of credible and effective presence within our maritime area to ensure a secured and conducive domain for enhanced national development

bolster the development of the Blue Economy in the medium-to-long term, efforts are to be re-doubled by the NN to facilitate cross-sectoral policy initiatives to galvanise due action on the triad Blue Economy pillars of livelihood, national economic development and sustainable exploration and exploitation of the marine environment. They also agreed that the Total Spectrum Maritime Strategy is to be recalibrated to incorporate the imperatives of the Blue Environment; the NN will exercise all possible initiatives in maintaining its lead role in facilitating and promoting the Blue Economy to be duly recognized by maritime stakeholders in order to put potential conflicts over responsibility and jurisdiction at bay in legislative, policy, coordination and resource allocation; The infrastructural upgrades and development of FOBs towards having functional jetties and logistics support facilities is also to include the various necessary infrastructures to operate helicopters; the NN is to emplace measures to optimise the nexus of domain awareness, capacity and partnership to ensure maritime safety and security; NN will explore all feasible options to improve terrain awareness of the backwaters; NN is to engage relevant stakeholders having MDA capabilities with a view to integrating MDA facilities under one coordinating umbrella led by the service; NN is to engage relevant agencies to activate their respective desks under the FALCON EYE; given the experiences of the past in terms of effective implementation of fleet maintenance concept, HQ LOG will make a model of this practice by using NNS LANA as a case study; NHQ is to immediately setup a committee to articulate requirements for the upgrade of NNEC Sapele in the areas of infrastructure, syllabus, training aids, staffing and courses to be offered; given the enormity of naval engineering planning, execution and monitoring, NHQ is to consider a mix of appointment into the offices of FOC and CSO Logistics Command between the engineers and Executive/Logistics officers in the future; To improve the capacity of the NEB officers, NHQ is to consider adding two more courses in his career path with focus on type-training and engineering management; the NN will make deliberate efforts to encourage reverse engineering in the production of critical spare parts; and NHQ is to consider convening an engineering conference to address specifically the myriad challenges and constraints impeding best engineering practices in the NN At the end of the conference, the need to foster stakeholders' collaboration for improved maritime security and national prosperity became more imperative.

WEDNESDAY SEPTEMBER 15, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 15, 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

1 4 , 2 0 2 1

S & P INDEX

EXCHANGE RATE

OBB

14.00%

CALL

INDEX LEVEL

565.29%

1/4 TO DATE

6.06%

N412.08/ 1 US DOLLAR*

OVERNIGHT

14.50%

1-MONTH

1-DAY

–0.11%

YEAR TO DATE

– 15.66%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.41%

Ten Banks’ OPEX Hit N932.26bn in H1 2021, Driven by Double-digit Inﬂation, AMCON Levy, Others

Darasimi Adebisi Despite the bountiful profits reported by deposit money banks in the country in their Q2 reports, it has emerged that double-digit inflation rate, among other factors drove a total of 10 banks Operating Expenses (OPEX) by seven per cent to N932.26billion in half year of 2021 (H1) as against N871.67 billion in the comparable period of 2020. Analysis of the banks results submitted to the Nigerian Exchange Limited (NGX) showed that regulatory costs such as the Asset Management Corporation of Nigeria (AMCON) charge of 0.5 per cent on total assets and

the Nigeria Deposit Insurance Corporation (NDIC), fall in local currency, were other factors that contributed to increasing OPEX of these 10 banks in the period under review. Recently, the National Bureau of Statistics (NBS) announced that Nigeria’s inflation rate closed June 2021 at 17.75 per cent from 17.93 per cent and 18.12 recorded in May and April, respectively. Inflation rate in January was 16.47per cent but increased to 17.33 per cent in February. The bureau reported 18.17 per cent inflation rate in March of 2021. Industry analysts believe the hike in banks operating expenses was majorly driven

by regulatory costs According to the Vice President, Highcap securities limited, Mr. David Adnori banks managers were prudent in managing cost in a move to report impressive earnings in the period under review. Further analysis of the results showed that banks operating in the country reported OPEX below inflation rate in the period, attributable to cut in personnel expenses. For instance, Access Bank Plc reported about 9 per cent increase in operating expenses to N189.8billion in H1 2021 from N174.3billion in H1 2020, while Zenith Bank Plc operating expenses rose by 10.3 per cent to

N149.85billion in H1 2021 from N135.85billion in H1 2020. Access bank hinted that growth in OPEX by nine per cent was driven by the enlarged franchise following the acquisition in Kenya, Mozambique, South Africa and Zambia. “OPEX at Bank level was flat despite the increase in regulatory costs (17 per cent), depreciation and amortization (16 per cent). We continue to optimize our costs despite the inflationary environment,” the bank explained. Guaranty Trust Holdings Plc (Guaranty Trust Bank) reported N89.34billion OPEX in H1 2021, 7.2 per cent increase from N83.31billion as Fidelity Bank

Plc’s OPEX dropped by 10 per cent to N42.25 billion in H1 2021 from N46.84billion in H1 2020. GTCO in a presentation to investors and analysts attributed increasing in OPEX to headline inflation rate and marginal Naira/ US dollar rate movement in the official market that resulted in the increase in general prices of goods and services. According to the bank, “Operating cost was largely impacted by 27.3 per cent growth in AMCON expenses and 9.3 per cent increase in depreciation expenses.” Also, United Bank for Africa Plc reported 0.5 per cent increase in OPEX to N132.8billion in H1 2021 from N132.13billion in H1

2020, while that of FBN Holdings Plc increased by 10 per cent to N152.57billion in H1 2021 from N139.17billion in H1 2020. FBN Holdings explained that 35.4 per cent increase in regulatory cost was responsible for hike in OPEX, stressing that the management maintained focus on cost control as key priority. In the same vein, Standard IBTC Holdings with 14 per cent to N55.37billion in H1 2021 from N48.54billion in H1 2020 recorded the highest OPEX in the period, while Sterling bank’s OPEX rose by 11 per cent to N35.5billion in H1 2021 Continued on page 26

World Bank: Reduce Global Emissions, Support Green or Face 86m African Internal Climate Migration by 2050 Gilbert Ekugbe The World Bank in its updated Groundswell report has revealed that Sub-Saharan Africa could experience as many as 86 million internal climate migrants by 2050. The report obtained from its website also highlighted the urgent need for immediate and concerted actions to reduce global emissions, support green, inclusive, and resilient development that could reduce the scale of climate migration by as much

as 80 per cent. The World Bank stated that climate change, an increasingly potent driver of migration, could force 216 million people across six world regions to move within their countries by 2050, adding that hotspots of internal climate migration could emerge as early as 2030 and continue to spread and intensify by 2050. The report added: “By 2050, Sub-Saharan Africa could see as many as 86 million internal climate migrants; East Asia and

the Pacific, 49 million; South Asia, 40 million; North Africa, 19 million; Latin America, 17 million; and Eastern Europe and Central Asia, 5 million.” The multilateral financial institution also warned that the report was a reminder of the human toll of climate change, particularly on the world’s poorest nations contributing the least to its causes. The Vice president of Sustainable Development, World Bank, Juergen Voegele, said the report

also clearly lays out a path for countries to address some of the key factors that are causing climate driven migration. “Climate change is a powerful driver of internal migration because of its impacts on people’s livelihoods and loss of livability in highly exposed locations, “World Bank said. All these issues are fundamentally connected which is why our support to countries is positioned to deliver on climate and development objectives

together while building a more sustainable, safe and resilient future,” Voegele said. By deploying a scenario-based approach, the report explores potential future outcomes, which can help decision-makers plan ahead. The approach allows for the identification of internal climate in- and out- migration hotspots, namely the areas from which people are expected to move due to increasing water scarcity, declining crop productivity, and

sea-level rise, and urban and rural areas with better conditions to build new livelihoods. The report provides a series of policy recommendations that can help slow the factors driving climate migration and prepare for expected migration flows, which includes, reducing global emissions and making every effort to meet the temperature goals of the Paris Agreement, embedding internal climate Continued on page 26

M A R K E T D ATA A S AT T U E S D AY, S E P T E M B E R 1 4 , 2 0 2 1 FGN BONDS DESCRIPTION 12.175 FGNSB 10-OCT-2021 11.244 FGNSB 16-OCT-2021 10.296 FGNSB 13-NOV-2021 13.390 FGNSB 14-NOV-2021 9.091 FGNSB 11-DEC-2021

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

100.66

2.72

-0.34

NTB 30-Sep-21

2.58

2.59 -0.36

100.73

2.80

-0.33

NTB 14-Oct-21

2.75

2.76 -0.33

101.16

3.14

-0.27

NTB 28-Oct-21

2.92

2.93 -0.30

101.68

3.15

-0.27

NTB 11-Nov-21

3.08

101.34

3.49

-0.20

NTB 25-Nov-21

3.25

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS SEP 29 2021 420.93

NGUS OCT 27 2021 422.38

NGUS NOV 24 2021 423.83

3.10 -0.27

NGUS DEC 29 2021 425.28

3.27 -0.24

NGUS JAN 26 2022 426.73

C Ps MATURITY

Discount Yield

Change (%)

MTNN CP III 20SEP-21 MREP CP XXXIX 20-SEP-21 CMBL CP XV 11OCT-21 UBNP CP VIII 18OCT-21 CMBL CP XII 31OCT-21

5.59

5.60

-0.39

16.58

16.62 -0.39

6.11

6.14

-0.34

7.75

7.80

-0.33

4.01

4.04

-0.30

WEDNESDAY, SEPTEMBER 15, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

TEN BANKS’ OPEX HIT N932.26BN IN H1 2021, DRIVEN BY DOUBLE-DIGIT INFLATION, AMCON LEVY, OTHERS

from N32.1billion in H1 2020. In addition, FCMB Group Plc reported N47.95billion OPEX, an increase of nine per cent from N44.05billion in H1 2020, while Union Bank of Nigeria grew its OPEX by about four

per cent to N36.8billion in H1 2021 from N35.4billion in H1 2020. Commenting, the Head, Financial institutions, Agusto & Co, Mr. Ayokunle Olubunmi, noted attributed hike in

banks operating expenses to increasing cost of operating environment, and regulatory costs. According to him, “Hike in operating expenses differs from banks to banks.

AMCON levy and NDIC premium also contribute to OPEX of banks. Dont forget that double-digit inflation rate and fall in the Naira this year impacted on banks expenses. Since banks are

not operating in isolation, of course it is expected to affect their OPEX in the period.” On his part, the CEO, Enterprise Stockbrokers, Mr Rotimi Fakeyejo told THISDAY that severe business operating

environment impacted on banks OPEX. He noted that banks were prudential in managing cost by cutting personal expenses, among others based on the need to stay profitable.

Retired Federal Public Workers Urge FG to Mandate PTAD to Pay Pensioners’ Outstanding Benefits Ebere Nwoji The Association of Retired Federal Senior Public Officers of Nigeria (ARFESPON), has urged the federal government to prevail on the Pension Transitional Arrangement Directorate (PTAD), to pay up the difference in the monthly benefits payable to pensioners before the implementation of minimum wage and the benefits due to them after the implementation of the minimum wage. The association wants PTAD to adhere to the computation table drawn by the Salaries and Wages Commission in the payment of their outstanding benefits going forward. The association also wants the federal government to harmonise pensioners’ benefit by eschewing any form of disparity in payment of pension benefits to retirees in the same cadre. It further called for timely payment of the benefits noting that for sometime now, the monthly pensions

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)

payment, which was always paid immediately after the federal Accounts Allocation Committee (FAAC) meeting is now paid in the early days of the new month showing a shift from the former payment period. ARFESPON President. Mr. Olufemi Odewabi, who stated this while addressing the media in Lagos, said it was unfortunate that after a long period of patience exhibited by the pensioners during the agitation for payment of minimum wage, government later decided to pay 18 months out of the outstanding 24 months owed to pensioners.

However, he said PTAD created a differential gap in what it was expected to pay the pensioners as approved by the federal government through the salary computation table released by the Salaries and wages Commission. “Government decided to pay this salary increase by consequential percentages according to grade levels. Salaries and wages commission issued out circular for computation of the payment which PTAD in its own wisdom of superiority decided to discard and brought out its own formulated deficit

computation which was used to pay the arrears of eighteen months out of the twenty four months owed, “he explained. The ARFESPON president, therefore called on PTAD to pay the different in what it supposed to pay for the 18 months in line with the computation table drawn by the Salaries and Wages Commission and to balance the outstanding six months using the new salary computation table. Painting a clearer picture of what the pensioners were agitating for, Odewabi, said for instance, in the

directorate cadre, the difference between the total payment before the minimum wage and after the minimum wage was about N12000. “Even some old pensioners in this cadre have less that N10, 000 in their total package whereas the normal total package of their entitled domestic servant in grade level 03 in this exercise is more than this N12000, ”he lamented. In his appeal to PTAD to normalise the pensioners’ monthly benefits in line with government’s directive, Odewabi said: “Since the president of the Federal Republic of Nigeria

approved the table which salaries and wages commission forwarded to the Pension Transitional Arrangement Directorate, we are hereby appealing to PTAD to implement this payment henceforth.” He further appealed to PTAD to include the harmonisation issue in the correction to be made, saying that the association acknowledged the good gestures of the president in fulfilling his promise to make pensioners smile, despite the situation in the country and urged PTAD to make all the combined efforts to succeed in all ramifications.

NCS Accuses Nigerian Elites, MDAs of Patronizing Smuggled Vehicles as Lawmakers Mulls Act to Enhance Clearing Process Udora Orizu in Abuja The Assistant Comptroller General (ACG) in charge of modernization of Nigerian Customs Service (NCS), Mr Saidu Galadima has accused some Nigerian elite and Ministries, Departments and Agencies (MDAs) of the federal government of patronizing smuggled vehicles. Galadima made the accusation during an interactive session held by members of the House of Representatives Committee on the NCS, on the efforts of the agency to reduce its long cargo clearing stages so as to decongest ports in the country. The ACG while pointing out that the elites does not include members of the National Assembly, said officers involved in allowing such cars is being penalized. His words, “Unfortunately today the big men today in Nigeria, I didn’t say national Assembly members, all their escort vehicle Hilux are

smuggled vehicles. MDAs patronize smuggled hilux vehicles. That is why if you go to our system, the number of hilux importation has dropped but you find hundreds of them in town. Mostly used as escorts, if you makes amendment to the next finance act to make an amendment to procurement act that before a vehicle is taken over, you verify the custom duty it would go a long way. NCS buy Hilux vehicles, but they do not take delivery until when the papers are verified that duty is paid. As i am talking to you now many officers are before the board meeting for discipline for this offence.” Earlier, the Chairman of the Committee, Hon. Leke Abejide disclosed that they are working towards repealing some provisions in the Customs and Excise Management Act, to amongst others things reduce cumbersome process of containers transfer in the agency. He also told the customs delegates

that they are proposing three stages for the transfer of containers, which includes, Controller, DC revenue and Exit. He said, “One of the reasons we are doing this interactive session is because we are already working on the Customs and Excise Management Act. We want to have an agreement with Customs on a common ground, like all these transfer process, it is going to be there. But we don’t want to do it alone, we want to do it with them. We should receive it in this committee by this week. So when the Act comes we are are going to sit down on it and look at it and see how we can help them. We are working on the Act. “Customs are short of men. We went out and all the complaints when we we went to the command is that they are short of men and you. Customs is supposed to be 30, 000 men, but they are 15, 000.

They cannot recruit the remaining 50 percent unless they have money. Customs is underfunded. They are are taking seven percent of duty on items. This cannot help Customs to recruit. This is one of the things we are doing.” Speaking on the issue of elites and MDAs patronizing smuggled vehicles, Abejide suggested that the executive arm of government has to do something about the borders, so they can be tight enough. He also appealed to the agency to give three months extension so as to enable those who brought in their vehicles without paying duties to so. He opined that failure of the defaulters to pay up within the specified time, they should be prosecuted and jailed. “Try to improve the checks on this. We too in government we need to encourage the executive. Someone asked me why our borders were the

way they are. In other countries they are built with wall but our is just an iron used to block the road. The executive arm of government has to do something about the borders, so they can be tight enough. “We are appealing on behalf of Nigerians who brought in their vehicles without paying duties that they should give, now that we need more revenue, three months grace for everybody to come and pay duty including those ministries that are using back up Hilux without duty payment and whoever, we are appealing that three months grace should be given and whoever does not pay within this period should go to jail. We are begging on behalf of Nigerians that there are millions of them and they are willing because they want to use these vehicle within Nigeria and I believe if they do this it is possible you even get N1 trillion more in revenue,” the lawmaker added

WORLD BANK: REDUCE GLOBAL EMISSIONS, SUPPORT GREEN OR FACE 86M AFRICAN INTERNAL CLIMATE MIGRATION BY 2050 migration in far-sighted green, resilient, and inclusive development planning and preparing for each phase of migration, so that internal climate migration

as an adaptation strategy can result in positive development outcomes. The report also stated the need for increased investment

in better understanding of the drivers of internal climate migration to inform well-targeted policies. The updated report includes

projections and analysis for three regions: East Asia and the Pacific, North Africa, and Eastern Europe and Central Asia. It builds on the novel and pioneering modeling

approach of the previous World Bank Groundswell report from 2018, which covered Sub-Saharan Africa, South Asia, and Latin America.

WEDNESDAY, SEPTEMBER 15, 2021 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Chike-Obi: Indefinite Payment of Levies by Banks to AMCON is Worrisome President, Bank Directors Association of Nigeria (BDAN) and Chairman of Fidelity Bank Plc, Mustapha ChikeObi, in this interview aired on ARISE NEWS Channel, decried the indefinite payment of levies by banks to the Asset Management Corporation of Nigeria (AMCON). The pioneer managing director of AMCON also spoke on the state of the Nigerian economy, among other issues. Nume Ekeghe presents the excepts! Ngeria’s GDP, according to stats by NBS, grew by 5.01 per cent in Q2 2021. What’s your take on this, especially as this is the biggest GDP growth in six years? Is it an indication of improved business activities and what are the measures needed to sustain this growth? ell, this is unalloyed good news. No matter where you are, you need to start progressing from someplace, and people are going to tell you that you started from a low base or you didn’t start from a low base. But the fact that we can grow five per cent from any base is very encouraging. So, I think this is very good news. There is a silver lining, congratulations to all those involved, and congratulations to the Nigerian government for the enabling policies, including incentives given by government, that helped to achieve the growth. This is good news if you situate it with the fact that inflation has been moderating at the same time, which is still quite high even though it didn’t rise in the last report. So, from the economic standpoint, this is very good news, and I compliment all those involved, including the Nigerian people who have taken their lives back after the devastation of COVID-19.

the banks properly play their roles in the society. We have been seeing the proliferation of FinTech in the country. Are the banks threatened with this development, and why are they not investing in FinTechs? There’s a difference between FinTech and FinTech companies, which you just said. FinTech is just financial technology and every bank uses it and every time you do internet banking, it’s financial technology you’re using. Fintech companies, in my opinion, are companies that are devoted solely to doing things that involve financial technology and they don’t do other traditional things that banks do, like traditional finance. My feeling is that eventually all banks will be using financial technology and will be doing everything that the FinTech are doing today. There are one or two successful FinTech companies but they are not many. For every two or three you mention, I can name a 100 that have failed. As banks, we are not afraid of financial technologies as people think. I am not and Fidelity Bank is not afraid of financial technologies that are emerging. The truth is that we will adopt the ones that make sense to us. The key for us though is that the Central Bank of Nigeria has to allow us to close some branches across the country because now the idea of branch banking is not as effective because people can bank without going to the branches. You go to many branches now and they are empty. So, one of the things we have to look at is the cost of maintaining branches as opposed to the cost of using financial technologies and I can assure Nigerians that we are a FinTech and we are going to be FinTech users going forward, but we are not threatened.

Do you see the feat as an inﬂation-led growth? Well, it’s a real GDP growth, that is after it’s been adjusted for inflation. The nominal GDP was much higher, so it’s adjusted for inflation, which makes it a real growth, and it’s impressive. Can this be sustained and can we have doubledigit growth anytime soon? It is unlikely that we would sustain the five per cent growth without significant expansionary policies. I think there’s work to be done with the expansionary side of the economy. I think that the fiscal authorities are focusing too much on raising revenue, and that would impact the economy down the road. As for double digit, it is not going to happen except all hands are on deck and committed to double digit expansion. I expect that next quarter, we would probably get a three per cent growth and then we will level up around two and half to three, given the current policies. We are not aggressive enough in terms of expansionary policies to see the five per cent sustained. One of the issues we raised earlier was that the inflation rate is still high, although you may say something has been achieved in that regard based on the statistics of the National Bureau of Statistics (NBS). With the way the GDP is measured, you have nominal GDP and real GDP. Real GDP is nominal GDP minus inflationary impact. So, anytime real GDP is positive, it’s a number that has been adjusted, and the inflationary impacts have been taken off. You can have high inflation-driven growth, but it shows up in GDP. Real GDP doesn’t grow if inflation is very high. Congratulations on your appointment as President of the Board of BDAN. What is your take on the EFCC instruction which stated that come September 1, banks would be held liable for any institutional fraud within the banks, not just depositors alone? Let me talk about BDAN. I am honored to be appointed president, that’s usually a role that’s reserved in the past for the so-called tier-one banks. So, the fact that a Fidelity Bank Chairman is the President of BDAN is very encouraging for Fidelity Bank. It’s an institution that I don’t think many people know much about but I believe it’s one of the most important corporate platforms in Nigeria. My mission is to really expand on what people have built on BDAN and make sure people know what BDAN is, and that BDAN represents the interests and policies of the banks, not just the bank directors. We need to create a better image of banking in Nigeria and I think BDAN is the platform to do that. So I have a lot of plans for BDAN going forward. I am much honored and I think that Nigerians will hear and feel more of the impact of BDAN in the years going ahead. I think that the current Chairman of the Economic and Financial Crimes Commission (EFCC) is doing his best to make sure people know where he stands on certain issues and I think it was a useful statement, which he told the banks. According to him, “Whatever you have done in the past, we will look at it but what you will do in the future, especially going into an election, is very important to me. And let nobody sin anymore.” I think the first word in his institution is economic in nature and I think that he is also a partner in growing the economy by making sure bad practices are eliminated. So, I encourage the proactive dialogue he has

importance? Secondly, as the President of BDAN, how much challenge does security pose to your operations? Well, let me say that I have always been surprised that the President of Nigeria had never appointed a Chief Economic Adviser. It may be cosmetic or not, but it’s important when you’re dealing with something that you show people that you care about it. That has always surprised me but I am sure they have their reasons. I think Nigeria’s primary issue is not security, it’s not corruption, it’s the economy. There’s no country in the world with a robust economy that has security issues. There’s no country in the world with a robust economy that has corruption issues. If your economy is growing and people have the hope for a brighter future, they tend not to engage in criminal activity, they tend not to engaging in corrupt activity, they tend not to engage in issues that will compromise the security architecture of the country. So, I think that corruption and security challenges are a function of lack of economic direction, and I think more efforts should be directed towards fixing the economy. If we have the double-digit economy we spoke about so glowingly, I promise all Nigerians that the security challenges will be minimised, corruption will be minimised and all this agitation will be minimised. My issue has always been let’s focus on growing the economy at double-digit, let us get together to do it, let’s get the next president in 2023 who has an economic vision. Let us get the best economic mind irrespective of the party to run this country so that we can address serious issues and this partisan stuff that everybody is talking about has not helped us and will not help us.

Do you think the economic advisory group of the presidency has been effective. What should be the appropriate role of the state governments in achieving inclusive economic growth? Let me address the issue of the Economic Advisory Council, which is composed of very high-minded intelligent people. I always felt that Presidents are not good consumers of policy documents of the kind that emerge from that kind of body. Those work outputs from them should have been going to a Chief Economic Adviser who will sit there every day and condense their output, so the president can act on it. Giving a president a briefing every three months is not actionable. I was always worried that although the council was well-constituted, the channels for their output to convert into action are not there. Unfortunately, my fear has proven to be true because they don’t seem to have had the impact that we all hoped they would have when they were constituted. So, I wish they would have a Chief Economic Adviser who they will submit their output to and then that Chief Economic Adviser will condense it for the president’s action. The problem is that federal regulators are too powerful in this country. And so, in the end and beyond the power that the regulators wield at the federal level, we don’t have the ability for states or even companies to do much without running to federal government for this approval or that approval. Look at the Value Added Tax issue, which the court has said clearly that states should collect and the Federal Inland Revenue Service (FIRS) is objecting to it and insisting it should be paid to FIRS. So until the federal regulators realise that they are partners in business and that they are not dictators in business, I think we are going to have to keep running to the federal government to help with the growth of the economy and that is unfortunate. The states and private sector are practically helpless in the face of rampaging federal regulators.

What role do you envision that BDAN will play in what you just described, and how can the existing vacuum be ﬁlled? Well, first of all we need to project the image of banks better. We also need to make sure that banks are playing their roles in the economy. We need to partner with government agencies as a banking group to make sure that it’s difficult to steal money; it’s difficult to hide and launder stolen money. We need to do many things as banks to show that we are true partners in the economic growth of Nigeria, and not just profit-making enterprises. It is a step at a time. I just started this and one of the first things I want to do is to review the constitution of BDAN. We need to have a policy arm, a research arm, a legislative arm, so we can engage more proactively in those issues to enable

As President of BDAN, what are your primary concerns about the image of banks in Nigeria today? Well, banks are seen as predatory, they make money and pass the cost on to customers, they break the rules and make profit. I think that image may well have been partially justified in the past. But as BDAN, we will always make sure that banks are doing the right thing and once we start doing the right thing, and that image of doing the right thing is projected, then the banks will get it right. So, it’s a two-way process. There is need for internal review of our practices and how we treat our customers and how we treat the economy. There is also need for awareness creation on the things we are doing right and the things we intend to continue to do right. So, the first step is an internal review process, which we will undertake with all the banks as soon as possible.

Chike-Obi initiated with the banks and I think that bank MDs and banks should take note that those are the things that are important to a partner in their economic growth. Can you speak more on your plans as BDAN President? For BDAN, nobody should take a job like the President of BDAN without having a clear idea of where they want to do. And one of the things that are problematic for banks today is the Asset Management Corporation of Nigeria (AMCON) levy. And it’s strange that I am talking about AMCON levy since I was the initiator of the AMCON levy. But when we initiated the levy, we had a 10-year plan for banks to contribute to the AMCON. It is now open-ended and I think it will be useful for the banks, banks shareholders, AMCON and CBN to come up with a definitive plan on how much longer these levies will last. Is it another five years or another 10 years? Because an open-ended commitment that becomes the second or third largest expense item for banks is not helpful, and many banks today that are paying the levy were not around at the time of AMCON. So, there must be some equity about making people pay these large sums of money that’s open-ended. I will like to engage the CBN and AMCON particularly to come up with a plan that shows definitely when this AMCON levy will cease so that the banks can plan. As this open-ended thing is uncomfortable for banks and they won’t say it because of fear of the regulators, but I think that as BDAN, we can discuss that. The one that concerns me the most is that every government agency is trying to raise revenue without considering the impact it has on the overall economy. I think that while we are arguing about Value Added Tax (VAT), government is raising taxes. However, if you overtax an economy without growth, what happens is that the economy will not grow because government is a very useless spender of money. Private sector spends money effectively more than the government. So, taking money from the private sector to the government is not the way to grow the economy. We need to have a discussion where the private sector and the public sector can do things together to grow the economy. The current administration does not have an economic adviser. Instead, there’s an economic advisory body. Do you think that at the policy level, enough attention is being paid to the economy in terms of its

WEDNESDAY SEPTEMBER 15, 2021 • T H I S D AY

WEDNESDAY, SEPTEMBER 15, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

NDPHC’s Ido-Ekiti Injection Substation to Add 15MW to Ekiti Power Supply Emmanuel Addeh in Abuja When completed, the 1×7.5MVA, 33/11KV injection substation being built by the Niger Delta Power Holding Company (NDPHC) in Ido-Ekiti, will add 15MW to electricity supply in Ekiti state, Executive Director, Networks, Mr. IfeOluwa Oyedele, has disclosed. The facility with associated 33KV/11KV and installed four 500KVA distribution substation transformers, Oyedele said, would improve the socio- economic wellbeing of the people of the benefiting communities. Speaking in the town during the ground-breaking ceremony of the construction of the substation, Oyedele revealed that NDPHC had completed five injection substations in Ekiti state since its inception. In addition, he stated that the company since it began operations in 2004 has constructed a total of 18 substations, which are now operational throughout the country. He said: “ The facility is for the entire local government because the power requirement of Ekiti state is in the region of about 250MW. When you add 10 to 15MW to that kind of load, you will see it is substantial. “And when you reinforce this, it will relieve other substations of the load that they are presently carrying. It is something

that the entire community and its environs will benefit from.” He said the commencement of the project followed a tripartite ad-hoc committee comprising the NDPHC, Benin Electricity Distribution Company (BEDC) and Ekiti state government representative to assess ways of improving supply. “We have about five already completed distribution projects in the Ekiti state from the inception of NDPHC,” he added. Oyedele also disclosed that the company has constructed and commissioned over 350 injection substations with a combined capacity of about 3540MW across the country. “NDPHC since its inception has completed 2,194km and 887km of 330kV and 132kV transmission lines respectively. This is in addition to completed 10 new 330/132kV substations and eight new 132/33kV substations which are connected to the national grid, thus significantly adding 5590MVA and 3493MVA capacities at 330kV and 132kV levels respectively,” he added. In the last 14 years, he noted that NDPHC had built generation stations to the capacity of 5,000MW, which he said had doubled the generation capacity of Nigeria. “Right now, we have over 10 projects that are 99 per cent completed. If you remove all the lines constructed by NDPHC, Nigeria will probably be in

darkness”, Oyedele said. Governor of Ekiti state, Dr. Kayode Fayemi, who noted that the power supply to the state was grossly inadequate, stated that the substation when completed will bridge the supply gap in the state and called for its early completion.

UNVEILING EDMARK CITY…

The National Insurance Commission (NAICOM) has been advised to draw a roadmap for deep penetration of insurance across Nigeria and to embrace the policy of self-recapitalisation among insurance sector operators rather than its current regulatory and statutory based recapitalisation. A Lagos based Legal practitioner and National Coordinator, Cogatla Group of Lawyers, Chijioke Ndubuisi, gave the advise to the commission in a statement made available to THISDAY. In his view, creating Penetration road map for the insurance industry would lead to optimal performance and would engineer growth rather than concentration on forceful recapitalisation in the face of the prevailing hostile economic environment that does not support businesses survival. He stated, “Businesses on ground in the country as at today cannot support the insurance industries as they are not viable at all. The situation in stock exchange with respect to insurance stock is pitiable as the value is nothing to write home about. “It is less than one percent. Government is the largest supporter of insurance companies in Nigeria, although 85 percent of Gross Domestic Product (GDP) comes from private sector, unfortunately, private sector is weak, a situation caused by ravaging poverty, insecurity, inflation and general decline in the economy.” Against this backdrop, Ndubuisi, suggested that what would be more beneficial to the industry at this critical time was for the commission and the operators to evolve ways and means to make insurance services penetrate the public and encourage Nigerian business community to see investment into the industry as business worth venturing into. He noted that insurance awareness was still at its low ebb as he called the on federal government to stop the labeling and tagging of Nigeria

a war and risk prone zone that calls for imposition of higher insurance premium. The Lagos lawyer, further urged government to remove other impediments on the way of the insurance operators. He pointed out that the planned compulsory recapitalisation exercise as a policy that should be set aside for now while encouraging deep penetration of insurance to the public. He insisted that it was necessary to set aside the recapitalisation exercise for now because Nigeria’s economy by all parameter of measurement was not at its best, as such, compelling the insurers to go out and get the required compulsory capital would spell the demise of many firms. “Undoubtedly, Nigeria’s economy is in a serious quagmire and almost comatose, embroiled in recession upon recession and burdened by heavy debts, hyperinflation, internal insecurity, shaky and highly hemorrhaging with the government clueless about how to end the mess. It seems as if it has defied all economic logic, courtesy of former Military Head of State, Ibrahim Babangida. “According to HSBC, the Nigeria’s economy is not growing and IMF declared recently that Nigeria’s economy is under performing. Poverty is seriously ravaging the country and according to report released by National Bureau of Statistics (NBS) the number of Nigerians who are poor was estimated to be 82.9 million in May, 2020 and the forecast has it that the National poverty rate is likely to jump from 40.1 percent in 2019 to 45.2 percent in 2022 implying that 100.9 million out of 200 million Nigerians will be living in poverty by 2022, “he said. He noted that due to the harsh operating environment, most industries are relocating from Nigeria to other neighbouring countries due to insecurity, government oppressive business environment and policies, various threats to business operations, plus other impediments.

“We are 13 communities in Ido-Osi Local Government and all the communities will benefit from this project. Now, we are getting our light from Omu Aran When the light is coming, it will first step down at Otun. “So, sometimes in a week,

we don’t have light. In a month, we hardly get up to 50 hours of electricity, which is very poor. But with this substation, we will not be waiting for these people to ration us light. Rather, we will now have power here and still give to other communities,” he said.

L-R: Legal Adviser Edmark Group Nigeria, Donald Anih; GM Lagos State Physical Planning Permit Authority (LASPPPA), Kehinde Osinaike; Real Estate Consultant, Mrs. Owa Akinwumi and COO Edmark Group Nigeria, Mr. Bien Wapanio during thegrand ground breaking ceremony of Edmark City, Nigeria’s ﬁrst ever blockchained fuelled smarty city development in Lagos… recently

NAICOM Advised to Draw Roadmap for Insurance Penetration Rather than Statutory Recapitalisation Ebere Nwoji

Also speaking, the Olujodo of Ido-Ekiti, Ayorinde Faboro, assured that with the project, businesses that had relocated from the community would come back, lamenting that the people had suffered untold hardship because of lack of power.

He said this being the true picture of Nigeria’s economy, has raised the question among insurance industry observers on, “what proper role would insurance industry play to assist the prostrate economy through improved GDP? How can the insurance industry be strengthened to better contribute effectively and positively through risk bearing and underwriting and not ceding majority of risks to foreign underwriters for the growth of their industry and their own country’s economy?” He cautioned that although, in South Africa, the capital base for insurance is $8 billion equivalent of South African’s Rand - 288,069, 397.76R for life while general and composite business was $10 billion equivalent of South African’s Rand - 360,270, 200.00R respectively. “Reinsurance Capital base $20 billion, its equivalent being 720,557,941.60Rand as at May 2020. The situation in Ghana was slightly different in that for Life Insurance, the capital base was $8 billion, it’s equivalent being 116,063.18 Ghana Cedi while General and Composite was pegged at $10 billion, equivalent of Ghana Cedi 145,329,412.60 respectively. Reinsurance Capital base in Ghana was N18 billion equivalent of Ghana’s Cedi 261, 592, 942 .68, Nigeria should not copy what is obtained in these countries, “he revealed. In his view, NAICOM, may have borrowed a leaf from these countries to attempt to raise Nigerian insurance industry capital from the present level of N3billion to N10 billion for General business, N2billion to N8billion for life, N5 billion to N18 billion for composite firms and N10 billion to N25 billion for reinsurers, “it should be noted that South African and Ghana economies were different from Nigeria as the former were more progressive and their Gross Domestic Product (GDP) far higher and better than that of Nigeria.

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 15, 2021

BUSINESSWORLD

PERSPECTIVE

UDOM EMMANUEL: Empowering Akwa Ibom Youths for Now, Future

Nelson Ekanem

s a frequent traveler to Akwa Ibom State, notably the Ibom Icon Hotel and Golf Resort in Uyo, I frequently arrange retreats and seminars for my clients because of its calm, aesthetically appealing surroundings. I chose to see for myself on this latest trip with some free hours, and having seen the present Governor’s exploits and accomplishments on industrialization in the media. So I contacted Akpan, my regular local cab driver, and charged him with the task of acting as my tour guide as I explored the state. Frankly, I was astonished by the tremendous level of improvement. In my many travels, I have witnessed what our public officials have provided Nigerians as empowerment initiatives, such as the regular distribution of grinding machines, clippers, tricycles, and motorcycles, as well as trainings in bead manufacturing, baking, and liquid soap production. In some cases, stipends ranging from ten thousand to one hundred thousand naira (N10,000-N100,000) are distributed as startup money. Most of these “empowered” people are soon overwhelmed by economic realities and never escape poverty. Beneficiaries often sell off those “empowerment items” since they were either not trained for what they were given or were chosen as a reward for being a loyal member of the same political party or organisation as the benefactor. This is not to say we have not witnessed a semblance of such empowerment programs in Akwa Ibom in the distant past, but I am bold to say we have witnessed a quantum leap towards unprecedented empowerment programs with far-reaching impact. Since assuming office in 2015, Governor Udom Emmanuel in the six (6) years of his administration has demonstrated a strong dedication to youths’ empowerment and getting them the much-needed skills set for survival in the twenty-first (21st) century and beyond. To signal the departure from what seems to be the norm, the Udom Emmanuel-led administration initiated a government policy aimed at supporting Small and Medium Scale Enterprise (SMEs) in a bid to reduce unemployment, promote wealth creation among the youths and also improve on the State’s Gross Domestic Product (GDP).

Emmanuel This is also a profound thought of the current administration, which did not establish new government agencies or necessarily hire into the state’s civil service as an easy technique for job creation and lowering the unemployment rate and poverty. Rather, in order to further its commitment to promoting entrepreneurship, transforming Akwa Ibom into an industrial hub, and becoming a significant contributor to Nigeria’s emerging economy, two agencies were established: the Directorate for Microfinance and Enterprise Development and the My Entrepreneurship Goals Program (MEGP), where shortlisted beneficiaries undergo three (3) months training on business management relevant for SMES development in today’s society. Governor Udom Emmanuel led administration also proved its commitment to SME growth by providing start-up finance for these young developing entrepreneurs

The Ibom 3,000 project was another demonstration of his (Udom Emmanuel’s) commitment to supporting and developing SMEs in the state, as 3,000 youths from the state’s 31 Local Government Areas were trained on capacity improvement through diverse career, technical, entrepreneurship, and managerial skills in oil and gas, agribusiness, ICT, and SMEs in order to secure gainful employment or generate employment. This was followed by a second batch of 8000 indigenous people being trained for the same reason in preparation for the State’s industrialisation era. The ICT training focused on digital acquisition skills required for the twenty-first century, such as coding, software architecture and engineering, android engineering, application architecture and testing, and data structures and algorithms, all of which are required for an artificial intelligencedriven future.

The ongoing industrialization drive of the Udom Emmanuel administration has brought about a new wave of empowerment to the youths of Akwa Ibom state. I remember during my visit to the State, which took me to some notable sites/projects like the Jubilee Syringe Manufacturing Complex, Kings Flour Mills and the Dakkada Industries Complex, I saw youths with newly acquired knowledge and vocation which will promote self-development and make them relevant in the nearest future. At the Jubilee Syringe Manufacturing Complex, I saw many young people operating equipment and machines. I was also told that many youths from the host villages were already being trained in the maintenance, repair, and servicing of such machines. This will make them employable after a comprehensive round of knowledge transfer. At Kings Flour Mills, except the Miller who is Turkish, all other operators are Akwa Ibom youths. There is a process in place where youths of the state are undergoing training on acquiring the special skills towards being a miller. It is safe to assume that very soon, the whole process and operations at the Flour Mills will be driven by youths of the State. At the Dakkada Industries Limited, the production of toothpick, plastics and tissue paper are done by youths of the State under the supervision of various technical partners. Products from this place are of national and international standard and there is an expansion drive in progress in order to meet up with the demands for it. This translates into more jobs and Akwa Ibom youths with specialized training. The Ibom Air must also get a special mention as it has created jobs for indigenes of the State in a highly lucrative sector of Nigeria’s economy. We now have cabin crew and safety officers who are from Akwa Ibom State. They also make up the baggage handling, ticketing and reservation officers and with the ongoing expansion of fleet and routes, more job opportunities will be created. Also, I am convinced few years away from now, Ibom Air will have flights filled with Pilots and Cabin Crew from the State. I must state that Akwa Ibomites are fortunate to have a leader that is committed to a more fulfilling future for his people. A leader who has provided them with a future in a fiercely competitive world. t &LBOFN JT B #VTJOFTT $POTVMUBOU

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 15, 2021

BUSINESSWORLD

PERSPECTIVE

Much Ado About VAT Administration in Nigeria

Olumuyiwa Adebayo

PREFACE

ax revenues have been of great importance to many governments of the world, especially in developed countries compared to developing countries like ours in Nigeria. Before the return to democracy in Nigeria, tax revenues had not been a significant contributor to the Government revenues, and minimal attention had been paid to it. The shift to take to critical consideration to increasing tax revenues in Nigeria became more interesting in the 4th Republic from 1999. Still, the concentration has not reached this height until the oil revenues accruable to the Nigerian Government started to dwindle in the last decade, and most especially in the current administration. Even with the recent development, the Nigerian statistics regarding the ratio of tax revenues to Gross Domestic Products (GDP) has not exceeded 6%, far-fetched from the global and African averages. Nigeria as a country ranks in the lowest quartile within African. The OECD average was about 34.3% in 2018, while the highest ratio in Africa is by Seychelles (32.4%). Nigeria’s tax-to-GDP ratio in 2018 (6.3%) was lower than the average of the 30 African countries in Revenue Statistics in Africa 2020 (16.5%) by 10.2 percentage points and lower than the Latin America and the Caribbean (23.1%). Though the personal income tax is the highest tax contribution head across the Globe, followed by property taxes and the likes, but the global practice is shifting towards more indirect taxes such as the consumptions or sales taxes (i.e., VAT and GST), property taxes, as indirect taxes are easy to administer, collect and the follow of the revenues is consistent and matches the timing to which Government requires such for meeting up with its social contract with their citizenry.

HERE WE COME!

Consumption taxes are now gaining waves across the Global. It is well referred from what is considered Sales Tax in the early days of tax administration across the Globe, as some thought it a form of trade levy in the Nigeria context during our 1st Republic. During the military regime in the ‘80s, various military administrations across states adopted Sales Tax in Nigerian states. To integrate its administration and effectiveness, the former Military Head of State regime, General Ibrahim Gbadamosi Babangida, via a Decree in 1993, enacted the Value-Added Act (VAT), which came into force on 1 January 1994. Value Added Tax (VAT) is the last baby of the Consumption Taxes that has continued to gain wider acceptance across the Globe. However, it was first introduced and adopted by the Government of France in 1954 in Ivory Coast (Côte d’Ivoire) colony. Though, VAT has continued to gain the utmost popularity. However, many developed and developing countries still maintain a slightly different consumption tax before introducing VAT. This consumption is a modified version of the long-dated sales tax, known as “Goods & Service Tax (GST)”. In Comparative Tax Policy and Administration, we could conclude that VAT and GST, as they belong to the same family of ‘Consumption Tax’, are used interchangeably. Still, they portray some level of differences slightly. The Goods and Services Tax (GST) is a consumption tax levied on most goods and services sold for domestic consumption. Consumers pay the GST, but it is remitted to the Government by the businesses selling the goods and services. The under-listed are the common factors binding VAT and GST as consumption taxes: 1. VAT and GST are consumption taxes imposed on the sales of goods by businesses at each stage of production and distribution. 2. VAT and GST are charged on the value of goods

and services (with or without profit). 3. VAT and GST are indirect taxes on consumer expenditures and, in theory, should not fall on business activities. 4. VAT and GST are taxes included in the final price and paid by consumers at the point of sale and passed to the Government by the seller. 5. Thresholds for the administration of VAT and GST are usually defined. Likewise, the practice and application of a GST vary slightly with VAT in its administration and final effects. The under-listed are the observable differences: 1. VAT is more administered centrally, while GST in most jurisdictions is administered at the States level or a combination of Central Government, State Government and Local Government (Municipal). 2. Each State has the constitutional right to impose its consumption tax. 3. The tax rates vary across states and types of goods and services. 4. It is more demanding in its administration processes because of the non-standardization. 5. It is time-consuming, especially for businesses that have a presence across the states and inter-state business activities. 6. Also, some countries like the Indian Government have moved a step ahead with the re-enactment of the GST, which was rolled out on 1 July 2017 with the need to address fiscal federalism concerning tax revenues and thereby how GST categorized into four as follows: a) Integrated Goods and Services Tax (IGST): The Integrated Goods and Services Tax or IGST is a tax under the GST regime applied to the interstate (between 2 states) supply of goods and/or services and imports and exports. The IGST Act governs the IGST. Under IGST, the body responsible for collecting the taxes is the Central Government. After the collection of taxes, it is further divided among the respective states by the Central Government. For instance, if a trader from West Bengal has sold goods to a customer in Karnataka worth Rs.5,000, then IGST will be applicable as the transaction is an interstate transaction. If the rate of GST charged on the goods is 18%, the trader will charge Rs.5,900 for the goods. The IGST collected is Rs.900, which will be going to the Central Government. b) State Goods and Services Tax (SGST): The State Goods and Services Tax or SGST is a tax under the GST regime applicable to intrastate (within the same State) transactions. Both State GST and Central GST are levied in an intrastate supply of goods and/or services. However, the State GST or SGST is imposed by the State on the goods and/or services purchased or sold within the State. The SGST Act governs it. The respective state government solely claims the revenue earned through SGST. For instance, if a trader from West Bengal has sold goods to a customer in West Bengal worth Rs.5,000, then the GST applicable on the transaction will be partly CGST and partly SGST. If the rate of GST charged is 18%, it will be divided equally into 9% CGST and 9% SGST. The total amount to be charged by the trader, in this case, will be Rs.5,900. Out of the revenue earned from GST under the head of SGST, i.e. Rs.450, will go to the West Bengal state government in the form of SGST. c) Central Goods and Services Tax (CGST): Like State GST, the Central Goods and Services Tax of CGST is a tax under the GST regime applicable to intrastate (within the same State) transactions. The CGST Act governs the CGST. The Central

Government collects the revenue earned from CGST. As mentioned in the above instance, if a trader from West Bengal has sold goods to a customer in West Bengal worth Rs.5,000, then the GST applicable on the transaction will be partly CGST and partly SGST. If the rate of GST charged is 18%, it will be divided equally into 9% CGST and 9% SGST. The total amount to be charged by the trader, in this case, will be Rs.5,900. Out of the revenue earned from GST under the head of CGST, i.e. Rs.450, will go to the Central Government in the form of CGST. d) Union Territory Goods and Services Tax (UTGST): The Union Territory Goods and Services Tax or UTGST is the counterpart of State Goods and Services Tax (SGST) which is levied on the supply of goods and/or services in the Union Territories (UTs) of India. The UTGST applies to the supply of goods and/or services in Andaman and Nicobar Islands, Chandigarh, Daman Diu, Dadra, and Nagar Haveli Lakshadweep. The UTGST Act governs the UTGST. The Union Territory government collects the revenue earned from UTGST. The UTGST is a replacement for the SGST in Union Territories. Thus, the UTGST will be levied in addition to the CGST in Union Territories.

THE CONUNDRUM AND HULLABALOO! WHAT IS THE HULLABALOO ALL ABOUT?

Value Added Tax (VAT) Act, Chapter VI of the Laws of the Federation of Nigeria (LFN) 2004 (as amended by the various provisions, including that of Finance Act 2019 and Finance Act 2020) provides detailed guidance and requirements on the administration of VAT in Nigeria, and conspicuously bestowed the statutory powers to collect and administer everything aspect of the Act on the Federal Inland Revenue Service (FIRS). The FIRS has carried out and improved upon these responsibilities since its implementation dated back to 1994. In the time past, the Lagos State Government, especially when it was in dire need of funds due to a blockage by the Federal Government during the administration of President Olusegun Obasanjo, GCFR had adopted its ingenuity look inwards to self-generate revenues, and the focal point was tax revenues. Various revenues tax revenues stream was created amongst effecting compliance on the existing tax laws to which taxes and levies are accruable to both the State and the local governments, including the local government development areas. As time progressed, the successes recorded in the fiscal arena of the state revenue generation policy provided it more comforts to expand in its revenue drive, which gave birth to the enactment of state sales/consumption tax. This was in a bid to increase the revenue of the state vis-à-vis further a medium of addressing the perceived injustice and inequitable distribution of the VAT revenues to the states that contribute more significant percentages to the federating purse as VAT collections. This development caused an uproar concerning multiple taxations and/or double taxation to businesses as both the State’s sales tax and the VAT address the same tax base, the value of goods and services consumed. The Lagos State Government (LASG) lost at the Apex Court but later re-invented the wheel. LASG thereby resolved to enact a new law introducing a consumption tax specific to hospitality and recreational business under the Hotel and Restaurant Consumption Tax. Due to the re-characterization of this tax and the further expansion of the Taxes and Levies

(Approved List for Collection) Act, Chapter T2, Laws of the Federation of Nigeria, 2004 (as now amended by the Schedules to the Taxies and Approved Lists {Approved List for Collection} Act {Amendment} Order, 2015), the Lagos State Government was able to win the court case instituted by the umbrella association of hoteliers and recreational facilities in Lagos State. Now, the Rivers State Government (RSG) introduced a twist by challenging the constitutionality of the VAT Act as adopted as Laws of the Federation of Nigeria (LFN) as a result of the return to the 4th Republic. However, VAT Act pre-dated the enactment of the 1999 Nigerian Constitution. Furthermore, my submission is that it may have been erroneously omitted from the Exclusive List and not included in the Concurrent List, making it a residual item within the purview of the States to legislate. The position of RSG was different from that tabled by LASG concerning its Sales/Consumption Tax, where it was said it has the right to levy such charges side-by-side with the VAT. The Federal High Court (FHC), sitting in Rivers State, made a declarative judgement which declared the administration of VAT by the Federal Inland Revenue Service (FIRS) as unconstitutional and such powers are not conferred in the Constitution. Though the VAT Act granted such powers, but is a nullity and invalidated to the extent, it contravenes the provisions of the Nigerian 1999 Constitution. The FIRS has since appealed the Judgement at the Court of Appeal and has sought ‘stay of execution’, but the stay of execution was not granted, making the judgment a subsisting judgment pending when a superior court upturn same.

HERE COMES THE ‘CONUNDRUM’!

This Judgement may be considered the beginning of the test of ‘True Fiscal Federalism. It may serve as the advent of opening the eyes and thoughts of leadership across states and regions to look inwards in revitalizing and rejuvenating state mercenaries and policies towards promoting a conducive and businessfriendly environment. Then, it brings about economic prosperity, which bequests more tax revenues through increases in tax bases, employment, infrastructural and related development, and competitiveness amid comparative advantages. In the interim or immediate, there are more challenges and onerous administrative bottlenecks and possible negative economic impacts that this development can expose our fragile economy into, and some of them are itemized below: 1. Many Nigerian states numbering up to about 30 will find it difficult to survive. This economic shock arising from losses of share of tax revenues may portray a total collapse of the affected states. 2. How do the Federal Government create stability amid instability in states’ economic situation if the superior Court upholds this decision? 3. How do businesses content with the multiplicities in the administrative processes regarding the non-standardization of VAT across states? 4. How do businesses with input VAT at the point of import with Nigerian Customs or those attributable to Inter-State transactions easily offset such input Tax with the Output Tax? 5. What happens where Input Tax is suffered in the Rivers States with an existing VAT Law at the rate of 7.5% recover its Input Tax in full if such goods are sold in Lagos State with its proposed VAT of 6%? 6. How will States conduct VAT Audits to know the fair portion of the VAT accruable to them in a situation where companies like the Telcos sell all their data and mobile credits remotely through various online point-of-sales across the 36 states and the FCT? NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY SEPTEMBER 15, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY SEPTEMBER 15, 2021

EDUCATION Omenugha: How Public Education Has Been Re-engineered in Anambra Prof. Kate Omenugha is the Commissioner for Basic Education in Anambra. She is the first professor of Gender and Communications in Nigeria. In this interview with Funmi Ogundare, she explained the Anambra government’s contribution to ensure that education is accessible to more people in the state. She also emphasised why Anambra must embark on a public-private partnership

ow did you address the problems of access to quality basic education in Anambra? Anambra was 30 on August 27. Part of what we are doing to celebrate is a day with education builders. These are people that have contributed in so many ways to education in the state. This administration is a period of consolidation of education. The state has many great men and women; the likes of Chief Emeka Anyaoku, Chinua Achebe, Emegwali, Prof. Charles Soludo, Prof. Dora Akunyili and Chimamanda Adichie. So Anambra state has done well as far as education is concerned. When the governor came into office, what he has done was to consolidate on the gains of the past and bring the state into the limelight and ensure that education is accessible to a greater number of people. What he has told me is that I should give education that is credible and qualitative. We have our strategic objectives clearly defined; that the learning needs of all must be met through equitable distribution of resources and learning of lifelong skills and ensuring that we are one of the three top states with the lowest illiteracy rate. What steps did you take to carry stakeholders along? What we had done over the years were teachers’ engagements. We have also worked with NGOs and civil societies; worked and partnered the church and other education stakeholders. Contrary to what people think about the literacy level in Anambra state, that it is about 96 or 97 per cent when you begin to disaggregate that data, you find out that some parts of the state are not even as learned or educated as other people. We have identified five local government areas in the state that are like that in terms of access: we have identified Awka North, Anambra East, Anambra West, Ogbaru, and Ayamelum. The government has put in a lot of searchlight in that area. We are paying 20 per cent of the basic salary to teachers to be retained in that area and giving more incentives because many are riverine areas. The governor has bought boots for access and mobility. We have identified brilliant but indigent students, and we were able to bring out 107 of them upland and put them in one of the best schools. We are paying 100 per cent in scholarships. Nature and nurture are two things that make human beings. Those areas are mostly agrarian; they are mostly fishermen and women. The poverty indices are quite high. All these things are affecting them in education, so we felt we could train some of them to give back to society. How would you describe the impact of access to education? If you take those students that we brought out, some of them were at their very lowest ebb, and suddenly, we saw a lot of them scoring ‘A’s in the subjects. To us, that is an indication that the strategy is actually working for us. It also depends on how the future government can take that up. Governor Willie Obiano is providing for their education up to the university level. That is where we are heading. You see some of them now participating in quizzes and debates that we didn’t have before. So for us, if we are to assess the impact, we can beat our chest that at least we are making some significant progress in those areas. Any other initiatives introduced by the government to bolster the education system? In 2014, when Chief Willie Obiano came into office, during the first retreat he had with the exco members and political appointees, we designed what we called ‘our shared values’; 10 of them. To make a positive impact on everyone I meet, and everywhere I go. To be a solution provider

Omenugha and not be a part of the problem to be solved. To be a role model worthy of emulation. To put in my best in all, I do particularly in things I am naturally good at. To do the right things at all times regardless of who is doing the wrong things. To value time and make the best use of it, show respect through my ways and actions. To consciously build a great legacy starting now, today, and every day. To live a life of integrity and honour. And to make my family, state and nation, and God proud, so help me, God. If you go to the remotest part of Anambra State, everybody has been following it to the letter. For us, education is about ideology. It is what you believe in that you profess and what you profess that you do. We have started inculcating the ‘can do’ spirit in our students. We have our dictum, ‘nothing is impossible’. We try to show that they can do anything, which is why a lot of children are taking up the challenge of global competitiveness. In 2018, the Regina Pacis Girls won the technovation challenge in Silicon Valley, San Francisco, USA. They won gold medals, St. John Technical College also won a bronze medal in Tunisia. When we went to Singapore for the first Nigerian-Singapore debate competition in 2015, we beat the Khartoun Convent School over there, and we won medals for the best team, the best speaker, and overall best team. When we went to the World Debates Championship in Indonesia, Anambra State was among the team Nigeria that beat Barbados in the

preliminary debates. We tell ourselves that if our children can go out there and shine, that means that when we are given global competitiveness, they are no longer afraid to go for global competitions. They look out for these things themselves. Recently, our technical college in Nkpo went for a competition in Asaba and beat every other state hands down, and they are representing Nigeria in the United Arab Emirates in Dubai this year. When I look at these things, I ask myself: how did this change? It is the drive that this government has given to education. It is about the can-do spirit that we have instilled in our children. That is what has happened. How is girl-child education treated in Anambra? Girls’ education is taken very seriously. In that area, we picked up to 60 per cent of girls and 40 per cent of boys. In those areas, the girls actually suffer because the state used to have the boy-child challenge. The boys were not going to school, but now they do. In the five areas I talked about, the girls are the ones that do not go to school. We researched girl-child education in 2000 when we studied about 42 households, and we were able to find out some of the things that happened in that area that were impediments to girl-child education. Unemployment is rife in Nigeria. How has Anambra enhanced technical colleges

We have our strategic objectives clearly defined; that the learning needs of all must be met through equitable distribution of resources and learning of lifelong skills as well as ensuring that we are one of the three top states with the lowest rate of illiteracy

for skilled manpower? One of the things the governor did when he came in was to give free tuition to those students from NTC one to three, and it has raised the number of people going into technical colleges. Secondly, he revamped the technical colleges. When we came in, none of the colleges was registered with National Board for Technical Education (NBTE), so we started revamping. We used to have 11 technical colleges, and we added one to make it 12. Now, we are building 750 capacity hostels for all the technical colleges in the state. We are completing and commissioning it this year. GTC Onitsha, GTC Umueri, and GTC Umuchu will be commissioned in two weeks, while GTC Ogidi, GTC Umunze, GTC Alor, GTC Enugwu Agidi will be ready for commissioning by the end of September. GTC Ossomala and GTC Utuh will be ready for commissioning by the first week of October. That is one of the things we are doing in technical colleges. We have done a whole lot of MoU and partnerships with the private sector. We have our partnership with Innoson Motors, which is currently training the students on bodybuilding and maintenance of vehicles for the completion of their courses. We also have a lot of MoUs in the hospitality industry for those who are doing catering craft. We also have those who are working on road construction. So these are partnerships that we have done over time. Our target is to ensure that students have hands-on experience. Beyond that, we took more than 20 of our technical college teachers to Singapore to learn their model of Technical and Vocational Education (TVE). Singapore has zero unemployment. Our teachers were able to learn one or two things about how we can run our own. Now we are partnering local artisans who will help us train the students on the practical things they are doing. How has your administration been able to consolidate on past gains? One of the things that we have that I find very captivating is that, since this is a period of consolidation, we have set up machinery for us to leapfrog into the future. We have trained our teachers on ICT. We have our one teacher, one laptop policy. Two years ago, we trained 10,000 teachers on ICT, and this training has been going on for some time. When the chairman of Zinox Computers came for the opening ceremony, he couldn’t believe that we could achieve those things in three weeks. One of the teachers was speaking the language of the computer. We ended up giving her a laptop which is an incentive. We have a policy that no teacher can become a headteacher if you are not computer literate. This has further made them begin to invest in themselves. That is one of the biggest things that we are consolidating on the gains of the past. It’s giving us the ambience to leapfrog into the future. This September, we will have artificial intelligence and robotics taught in our schools, but we are doing it as a pilot. We have initiated the one student, one palmtop policy, and we are asking individuals to get this palmtop into the hands of the students. Ibeto Group has helped us to appeal to individuals to give students palmtop. Cletus Ibe has donated Android phones. In September, we will be celebrating a lot of our students courtesy of Cletus Ibe, so our private indigenes contribute to what we are doing. One of the things we have also done was to make our teachers and students think beyond the classroom. When the COVID-19 came last year, we started teaching on air, and we made our teachers understand that they are global teachers. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY SEPTEMBER 15, 2021

EDUCATION

FG Urged to Support Medical Curriculum Review Hammed Shittu ÓØ ÖÙÜÓØ

The Federal Government has been called upon to support the move to review the academic curriculum for medical practices to check obsolete practices and enhance efficiency. The National President of Anatomical Society of Nigeria (ASN), Dr. Olugbenga Ayannuga, said this in Ilorin during the association’s 17th annual scientific conference and general meeting. He said, “the truth is what people are trained within the 1950s will not work today.” Ayannuga, an associate professor of Anatomy at

the Obafemi Awolowo University (OAU), Ile Ife, also said Nigeria must rejig its medical academic curriculum to make graduates relevant to current realities. “Apart from training doctors, healthcare professionals, nurses, physiotherapists, we already have a stand-alone discipline in Anatomy. It is also important that a product of that stand-alone programme in Anatomy must be mainstreamed into the working class (civil service), particularly, the ones related to health,” said Ayannuga. The medical expert, who lamented the high

unemployment rate among anatomists in Nigeria, said, “We talk about joblessness in this country. But the truth is that there are quite a number of people who have the capacity based on their training and are not given the opportunity to do anything.” He added, “For instance, to curb insecurity in Nigeria, some people think that the answer to it is to employ more people into the workforce. That is very good. But the truth is you will need a component of science in it, and that is where a case of a forensic officer in the military and paramilitary

settings is very important.” According to him, the military and paramilitary can identify people based on the features “they see on them, and the best of people prepared for that kind of job are anatomists.” “But as I am talking to you today, the police will not put out vacancies and say we need forensic scientists who have training in embryological sciences, particularly Anatomy,” said Ayannuga. “Those are areas we need to take care of. But at the last count in this society, the anatomists are best trained to do those kinds of jobs.

From left: The Chairman, Lagos State Task Force, Shola Jejeloye and Chairman of the State Universal Basic Education Board, Wahab Alawiye-King, during an inter-agency visit recently

Gbajabiamila, Okonjo-Iweala, Obi to Speak at King’s College 112th Anniversary Wale Igbintade

The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, the Director-General, World Trade Organisation (WTO), Dr. Ngozi Okonjo Iweala, are speakers at the 112th anniversary of King’s College Old Boys’ Association (KCOBA). While Gbajabiamila is to deliver the keynote address, Okonjo-Iweala will be the guest speaker at the occasion, holding on September 18, at King’s College Hall, TBS, Lagos. Panellists at the event include former Governor of Anambra and vicepresidential candidate of the Peoples Democratic Party (PDP), Mr. Peter Obi, Secretary of the Northern Elders Forum, Dr. Hakeem Baba-Ahmed, and the former Minister of State, Foreign Affairs, Ambassador Bagudu Hirse. Addressing journalists at the weekend, Chairman of the Organising Committee of ‘Kingsweek 2021’, Mr. Chuma Anosike, noted that this year ’s theme (‘Unity in Diversity... Stronger Together’) was chosen given the current realities facing the country. According to him, the situation in the country has been a source of grave concern to Kingsmen, stressing that there was a need for a forum where people would speak openly on issues confronting the country. “Over the years, King’s College has produced leaders in all fields of human endeavours. Today, given the challenges we are facing as a nation and the level of division in the country, we feel that as Kingsmen, we should be the voice of reasoning in Nigeria

to address this burning issue,” he stated. “We feel that the country is stronger together, and our diversity should be our strength. We will get through these difficulties, but they need to be addressed, and that is what we intend to do, to speak openly and frankly on these issues.” The occasion will feature a Jumat service on September 17 at King’s College Mosque, TBS, and a church service on September 19 at the Trinity House, Water Corporation Drive, Victoria Island, Lagos. Following that, the annual meeting will hold at King’s College Hall, TBS, Lagos. “This years’ AGM is an election AGM as the tenure of the current executive lapses’ same day. Thus new officers would be elected,” explained Anosike. “We are particularly excited about the coming year, as the association has as one of its top priorities for the year, the engagement of the federal government on an improved management structure for the college.” He further explained that deliberations had been ongoing on public-private partnership as an elixir for funding education. The association set up two endowment funds, the Floreat Fund and the KC Education Trust, to ensure a proper and sustainable funding structure for the college, Anosike revealed. He said the event would be held in compliance with COVID-19 prevention protocols, limiting the number of physical attendees. “We have made provision for online participation at both the symposium and the AGM, and the links shall be circulated to registered participants as the dates approach,” he stated.

Kaduna Releases Resumption Schedule Gombe Donates Laptops, for Schools Cash to Law Students

Funmi Ogundare

After months of disrupting the school calendar due to violent bandits attacks, Kaduna State has released a new resumption schedule for schools. The Commissioner for Education, Shehu Makarfi, disclosed this recently during a virtual workshop. The workshop was themed ‘Consequences of Violent Attacks on Education in Nigeria’, organised by the Education Writers’ Association of Nigeria (EWAN), as part of activities to mark the second anniversary of the International Day to protect education from attack. The new 2021/2022 academic calendar kicked off on September 12. The government scrapped the third term of the last session, with students given an automatic promotion to

the next class. Makarfi said the state worked out strategies towards ensuring the completion of the third term through online platforms, adding that resumption will be in phases. Students will resume within three weeks. “As I speak with you now, we have just released our timetable for resumption for learning in our schools. The first term will resume on September 12, and they will be in school until December 16,” said Makarfi. “They have 14 weeks within which they will be dealing with a lot of lessons they have missed. They will have a holiday from December 16, 2021, to January 6, 2022. The second term will resume from January 9, 2022, to April 8, 2022, and they will have a holiday from April 9 till May 1, when the third term will resume.”

The commissioner said experiences from other states had taught them how to prevent further attacks in the schools, noting that while the schools were closed down officially, learning had continued unofficially. “We are opening in phases; the SS1 and SS2 students from five local government areas which are affected by the crisis will be moved to some boarding schools which we have arranged,” he added. “The JSS students will also be moved to these boarding schools. We will make sure that they are all absorbed because they are few.” Speaking on the theme of the workshop, the officer-in-charge of the Maiduguri chief of the field office for the United Nations Childrens’ Fund (UNICEF), Samuel Sessay,

and the Executive Director of the Wole Soyinka Centre for Investigative Journalism (WSCIJ), Mrs. Motunrayo Alaka, highlighted the dangerous consequences of violent attacks on schools. Sessay explained that between 2009 and 2020, 1,400 schools were damaged, more than one million children were forced out of school, 2,295 teachers were killed, with the annual dropout rate for children in the North-East highest in Nigeria. Alaka charged journalists to focus more on quality reporting of the nation’s education sector, noting that thorough impact-driven reports are needed in the sector to achieve impacts. In his remarks, the chairman of EWAN, Mr. Mojeed Alabi, said the association would work with relevant stakeholders in the sector to reclaim its lost glory.

Segun Awofadeji ÓØ Ù×ÌÏ

The Gombe government has assisted indigenes of the state studying in various campuses of the Nigerian Law School with laptops and cash worth about N33 million to aid them in settling their academic fees for better performance. Making the presentations recently at the Ministry of Justice conference hall, Governor Muhammadu Yahaya said his administration would continue to provide the needed atmosphere and support for excellence towards achieving the needed target of improved capacity, efficiency, and quality education. Yahaya, represented by the Deputy Governor, Dr. Manassah Jatau, said the provision of laptops and cash was to encourage

students at Law School to build their educational capacity to prepare them for a better professional practice. Speaking earlier, the Commissioner for Justice and Attorney General, Zubair Muhammad Umar, said N370,000 was presented to 61 indigenes in six campuses of the Law School. He said the gesture was a demonstration of the commitment of the Yahaya-led administration to the people of the state, calling on the students to justify the government’s investment in them by performing well. Speaking on behalf of the recipients, the National Chairman of the Association of Law Students, Gombe Chapter, Idris Mohammed, thanked the government for the assistance and pledged to justify their spending.

T H I S D AY ˾ WEDNESDAY SEPTEMBER 15, 2021

EDUCATION

Improved Nomadic Education Will Curb Banditry, Kidnapping, Says Bauchi Commissioner Segun Awofadeji in Bauchi

Bauchi State Commissioner for Education, Dr. Aliyu Tilde has argued that improving the nomadic education system will curb banditry in the country. In a statement he issued shortly after he was sworn in again as education commissioner, Tilde said nomadic education has suffered neglect in the past, thus, would be the state’s priority.

The commissioner said he has met with the Executive Secretary of the National Commission for Nomadic Education (NCNE), Professor Bashir Usman, who assured him of the commission’s support. “The statistics are clear. In the past five years, only seven projects were carried out under Bauchi State Agency for Nomadic Education (BASANE), touching on only seven out of 463 primary schools, three of which were carried

out by NCNE. To put it straight, the 463 schools have been abandoned for years. Is it surprising that we have bandits and kidnappers below the age of 30 from our forests? “Are these schools not part of the basic schools’ count that are entitled to the attention that other similar schools get? Fortunately, I have cleared the matter with the executive secretary of the Universal Basic Education Commission in Abuja a day before.

These schools deserve to be treated as other schools,” Tilde said. He promised to involve all stakeholders in the state, saying, that as clerics continue with their efforts to take religious education to the nomads, the government needs to retrace its steps and pay due attention to the rights and plight of the nomads. “Education is the only tool for their refinement and integration into the larger civilization,” he said.

L-R: Assistant Financial Secretary, Alakoto High School Old Students Association (AHSOSA), Mrs. Stella Anumudu; the Public Relations Oﬃcer, Mr. Uthman Olusegun; President of the association, Mr. Derin Padonu; and the General Secretary, Prince Umoh Enoch, at the school’s 40th anniversary press conference in Lagos... recently PHOTO: ETOP UKUTT

Old Students to Launch N500m Endowment Fund to Mark School’s 40th Anniversary Uchechukwu Nnaike

The Alakoto High School Old Students Association (AHSOSA) is set to launch a N500 million endowment fund to celebrate the 40th anniversary of the school. The fund will cater to school projects and welfare packages for staff, students, and members of the alumni body. The AHSOSA President,

Mr. Derin Padonu, announced this while briefing journalists in Lagos ahead of the anniversary celebration. He was accompanied by the 40th Anniversary Committee Chairman, Mrs. Stella Anumudu; spokesperson for AHSOSA, Mr. Uthman Olusegun; and the General Secretary, Prince Umoh Enoch. He said over the years,

some sets of old students have executed projects at the school individually. But the 40th anniversary will be a homecoming event for all old students, where they will present a unified project to the school. Prior to the anniversary ball, which will hold on September 25 at Anna Hall, FESTAC Town, Anumudu said the association will organise

a medical outreach for members of the school community on September 16, among other activities. The old students also frowned at students’ apathy to education, resulting in poor performance in external examinations. They said the association would also organise periodic motivational sessions for current students of the school.

LSUBEB Partners Task Force for Schools’ Safety Funmi Ogundare

The Chairman of Lagos State Universal Basic Education Board (LSUBEB), Wahab Alawiye-King, and other board members have sought the collaboration of the Environmental and Special Offences Unit

(Task Force) to secure schools. During the inter-agency visit, Alawiye-King called for the support of the unit in eradicating vandalisation of school facilities, removal of shanties and dislodging hoodlums around school territories, and assistance

in curtailing encroachment on lands by residents. He noted that hoodlums’ presence around schools was a threat to students and teachers and a red flag in society. Shola Jejeloye, Chairman of the task force, promised to provide

adequate support for the schools. “Exposure of pupils to criminal activities can cause mental imbalance for our children, which is why we have made our decision irreversible in ensuring that anytime the board call on us, we will answer,” he said.

Teacher’s DIARY KEHINDE OMORU

www.kayomoru.com

‘WELCOME HOME!’

y entire work-life has either required pedagogical or andragogic skillsets of me. Whichever way these have unfolded to date, they have been interspersed by two-way, often times, unplanned informal non-structured content teaching and learning. I had my dose of such an intermittent PRN lesson a couple of days ago, when a service user said to another accompanying her statement with a tight hug, “Welcome home!” Home in the time of this poignant moment was/is an LSU in a primary health care with an adjunct education provision. The beauty of this facility is that if you were a ‘green’ or blindfolded visitor to/on the unit, with no prior knowledge of the presenting issues of persons receiving therapies, you’d have thought it was a hotel! “It is home here! “It is home here” someone enthused the next day at handover. But trust the eagle eyed consultant who slap-lashed our celebration with, “It’s no bloody centre-parks but yep, it’s proof we engender relational security here and that is necessary for souls to mend!” Abraham Maslow’s 1943 Hierarchy of needs features the ingredient - safety which is comparable to relational security. Safety (or security) is an essential need we all crave to have satisfied or to feel is in place, or indeed must create and foster in virtually every facet of our life experiences. Safety is not only about having security at your gate or CCTV home and away, it is about knowing that you are not vulnerable to harm, displacement, back-stabbings, and the like. This trust thing is what you must create, foster, be and demonstrate in your schools, businesses, organisations, establishments. Feeling safe will drive relational security. Your students or workers, because they feel safe enough to then perform at their best, will demonstrate having relational security by making top grades, upping production and company ratings, lowering staff turnover and lengthening your prospective student-waiting lists. So quit the promos and jingles on social media! Concentrate on introducing and fostering activities that drive the feelings of safety in every fabric of your relationships, home, school and work place. Let me leave you with these exercises this week. Please do a soul search and make a list of things you would do when you feel safe in a relationship, any relationship. Make another list of some shaky relationships you presently have. Try to identify what’s wrong in them. Are there any safety problems impeding the growth of any? -Omoru is a freelance writer, education, health and social care advocate

“Safety is not only about having security at your gate or CCTV home and away, it is about knowing that you are not vulnerable to harm, displacement, backstabbings, and the like. This trust thing is what you must create, foster, be and demonstrate in your schools, businesses, organisations, establishments. Feeling safe will drive relational security”

WEDNESDAY SEPTEMBER 15, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY SEPTEMBER 15, 2021

CITYSTRINGS

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

Championing the Fight against Sexual, Gender-based Violence through Partnerships The Duchess of Cornwall recently took on patronage for the Mirabel Centre, Nigeria’s first Sexual Assault Referral Centre, SARC, which provides succor and a safe place to survivors of rape and sexual assault, in Lagos, Nigeria. For British High Commissioner to Nigeria, Ms Catriona Laing, the first to head that office, who began her career working in Department for International Development, DFiD, and had postings to Helmand, Sudan and Somalia, the momentous patronage would help raise more awareness about violence against women and girls in Nigeria. In this exclusive interview, she highlights the menace posed by Sexual and Gender Based Violence, and the efforts of the commission in partnership with civil societies and law enforcement agencies to ameliorate it. Chiemelie Ezeobi brings excerpts

British High Commissioner to Nigeria, MS Catriona Laing CB

hat does it mean - both emotionally and practically - to have someone like the Duchess of Cornwall take such a keen interest in this issue and become patron of the centre? I am absolutely delighted that HRH The Duchess of Cornwall has agreed to become Patron of the Mirabel Centre in Lagos Nigeria. HRH The Duchess of Cornwall has been a long-standing supporter of women survivors of these terrible crimes. It’s important to me personally and to me as British High Commissioner to Nigeria that her voice will help raise awareness of violence against women and girls in Nigeria. In this role, she will help showcase the essential work the Mirabel Centre does to support sufferers of sexual assault and domestic abuse. What is the situation in Nigeria regarding the issue of sexual assault? Sexual and Gender Based Violence (SGBV) is a global epidemic ravaging all levels of society, and one of the most prevalent and devastating human rights violations. It cuts across all social, national, economic boundaries and, sadly, remains largely unreported due to the stigma and shame too often associated with survivors, and the impunity too often enjoyed by the perpetrators. While the majority of victims of SGBV are women and girls, it is important to note that perpetrators also target men, boys and people of all genders and sexual orientations. In Nigeria, for example, one in four women have been sexually abused in their lifetime, with one in three experiencing physical violence by age 15. Social norms normalising gender-based violence and gender inequality are a significant driver of GBV across Nigeria. With COVID-19 we have also seen an increase in SGBV, coined the ‘shadow pandemic’. In 2020, as the pandemic swept into communities across Nigeria, there was a

The Duchess of Cornwall

spike in rates of GBV across the country, in some areas by more than 400 per cent. The Mirabel Centre is the first of its kind to provide holistic and high quality psychosocial and medical services to these survivors in Nigeria, and this patronage will no doubt help to ensure safe and continued support to sexual assault survivors, particularly in the wake of the COVID-19 crisis. What is the British High Commission doing in this ﬁeld? The UK in Nigeria remains active in supporting ongoing efforts to reduce sexual violence in Nigeria. We are working alongside organisations, civil society actors, and individuals in partnership with the Nigerian Federal and State governments, to continue to challenge such harmful crimes perpetuated against individuals, support survivors, and address the root causes of violence. Our work falls under three broad areas: changes to legislation and policy, work with the security forces and police, and practical support to those affected by gender based violence: *Legislation and Policy changes: Through our technical and advocacy support we helped domesticate the Violence Against Persons (Prohibition) (VAPP) Act in several states, including

Kaduna and Enugu States. We have also helped develop the first costed implementation plan in Bauchi State (May 2021). We supported the domestication of the 2015 Criminal Justice Act in Yobe State in January 2020. This legislation allows women to stand as surety and ends gender discrimination in the bail process. We have supported the development and implementation of the Nigerian National Action Plan (NAP) and the institutionalisation of the Women, Peace and Security agenda in the operations of the Nigerian Military, Police Force, and other key actors. *Work with security forces and police: We funded the Centre for Law Enforcement and Education (CLEEN) to monitor security forces during the COVID-19 lockdown, with a particular focus on the treatment of women and girls. This supported the collating of data, including on sexual and gender-based violence by security actors, for the Police Service Commission and National Human Rights Commission. Our Nigerian Policing Programme supported the police with training to operationalise gender policies and improve responses to GBV cases, and helped to integrate gender provisions

The UK in Nigeria remains active in supporting ongoing eﬀorts to reduce sexual violence in Nigeria. We are working alongside organisations, civil society actors, and individuals in partnership with the Nigerian Federal and State governments, to continue to challenge such harmful crimes perpetuated against individuals, support survivors, and address the root causes of violence

into the Police Act 2020. *Practical support to those affected by gender based violence including through Mirabel centre: We now work with the Partnership for Justice (the Mirabel Centre) who operate two sexual assault referral centres in South West (Lagos) and North West Nigeria (Sokoto). Our funding helps ensure safe and continued support to sexual assault survivors, particularly in the wake of the COVID-19 crisis. The Mirabel Centre is the first of its kind to provide holistic and high quality medical and psychosocial services to survivors. Through the award-winning Voices for Change programme, the UK supported delivery of pioneering interventions on shifting social norms that justify violence against women and girls., and under the Justice for All programme, supported the establishment of the first ever Sexual Assault Referral Centre in Nigeria; a model which has since been adopted in multiple states. To protect those at risk of attack as a result of the insecurity, the UK is delivering a two-year programme 2019-2021, dedicated to providing support to those affected by the conflict in North East Nigeria, particularly victims of sexual and gender-based violence. Through our Conflict, Stability and Security Fund (CSSF), we worked with International Alert (2017 – March 2021), to also support the reintegration of women and girls affected by sexual violence in the conflict in the North East Nigeria. What has been your impression of HRH The Duchess when dealing with her about this? Is there any anecdote you might be able to share? We all know that HRH The Duchess of Cornwall has been a long-standing supporter of women who have suffered from these crimes, and I am absolutely delighted that she has accepted to lend her voice to the issues in Nigeria, and to take on patronage for the Mirabel centre.

T H I S D AY ˾ WEDNESDAY SEPTEMBER 15, 2021

CRIME&SECURITY

Nigeria Gets First Male Migrants Shelter to Reintegrate Returnees Omolabake Fasogbon

n an effort to rekindle the hope of returned male victims of human trafficking in Nigeria, a non-governmental organisation, Patriotic Citizen Initiatives, PCI has opened a shelter that will receive, relieve and empower returnees. Sited in Lagos, the male shelter which is acclaimed to be the first in Nigeria, would support government efforts in the reintegration of victims back to the society. Program Director of PCI, Comrade Ositadimma Osemene stated that beyond housing the migrants, the home would attend to the medical, counselling and financial needs of victims and assured of a meaningful and moderate life for the folks. Osemene, who himself was once a victim of trafficking, explained that his experience and passion for a better world informed the project, as he expressed belief that it would help to re-engineer the mindset of the returnees before their re-insertion to the society. He added that the decision to build a male home was thought of considering the limited attention paid to male victims overtime. "Women and children have always been in the spotlight , whereas the issue of irregular migration, smuggling of migrants and trafficking affect both male and female. "Dealing with the male folks of returned migrants is indeed cumbersome and challenging, but we have decided to do this as we know that the male gender is an integral part of the society, who if neglected would lead to in increase in crime and other social vices. "This project was borne out of the desire to ensure a holistic and successful reintegration process. This is not to say that reintegration process has not been fruitful but that more is needed. "To buttress this point, on my return in 2004, I stayed back in Sokoto to reminisce and snap out of all the horrifying experiences in other to relaunch into the society. Again, I must say that the process has brought me to the point where I am today. He further implored government to

recognise human trafficking as an urgent challenge that needed to be be nipped in the bud. The facility was launched in the presence of representatives of the project partners- The International Organisation For Migration (IOM), United Kingdom Home Office (UKHO) and National Agency for the Prohibition of Trafficking in Persons(NAPTIP). Also present, Lagos Zonal Com-

mander, NAPTIP Aganran Ganiu remarked that the task of managing returned migrants required the input of all stakeholders. He said, "Managing these ones is truly an herculean task especially when they are rescued or received. "This is because they are in a traumatised state, and the reality is they need a home but not just a home, but a home away from home

where they can be taken care of emotionally, psychologically and socially. "This facility being opened today is really laudable. What is being done here is bridging the gap in the reintegration process of voluntary returnees of victims of human trafficking. "The home packs all features needed for the overall wellbeing of the returnees. Certainly, whoever comes in here will come out as a better person."

Insecurity: CDD Unveils Peace Building, Sensitisation Project Sunday Ehigiator

he Center for Democracy and Development (CDD), has unveiled series of peace-building fact-finding mission and sensitisation programs, aimed at addressing challenges of insecurity in Nigeria. The Director of the organisation, Idayat Hassan, in a statement made available to THISDAY, said the intention of the project was to reinforce government’s ongoing efforts, by providing non-military alternative to resolving insecurity She said the project would provide knowledge-based solutions, facts, sentiments,

biases, historical grudges, and narrative of withheld justices, from field work, after its completion. According to her, “CDD would be working with the federal and state agencies, the media, community leaders, victims of attacks, and aggrieved non-state groups, who are willing to embrace peace, in order to gain insights into how to remedy the widespread insecurity. “Through close engagement with the media, the project will also seek to replace bias-fueled stories, stereotypical and tilted narratives, and ethnic labeling for empirical-based, objective, and

solution-driven reporting.” The organisation also revealed that it would be holding high-level capacity development training for journalists, which would place emphasis on the need to understand the context and historical dimensions to each of the crises, the trigger factors, and how to reach amicable solutions. “The previous work we have done has sought to help correct basic misunderstanding of the identities of Nigerians.” According to Hassan, “most Nigerians, especially people from the South, barely understand the distinction between a

Hausa man, a Kanuri man, and or a Fulani man. “They always, ignorantly, assume all of them as one and the same. Ditto with people from the North, who have also exhibited the inability to differentiate between a Yoruba man from Oyo, Ogun, Osun, and or Ekiti states. Such basic ignorance has continued to fuel the crisis,” she added. Also speaking, Director of Research, CDD, Dr. Sa’eed Husaini, said knowledge obtained from the latest research works underwent by the organisation, would be put to good use in helping the country to define a non-violent path to restoring peaceful coexistence across the country.

Expert Raises Concerns Over Increase in Fake, Expired Drugs Kuni Tyessi in Abuja

r. Biodun Ogungbo, an Abujabased medical expert, has raised concerns over the quality and efficacy of drugs being sold in patent medicine stores, saying that not less than 40 per cent of them are either fake or expired, thus unfit for consumption. The neurosurgeon, had in a statement said what is needed to curb its escalation is proper information and enlightenment, as well as proper health education of the general public to the serious dangers patronising such medicines can pose. In the statement titled, “The Havoc of ‘Chemists and Patent’ Medicine Stores", Ogungbo stated that it was unfortunate

that the potency and efficacy of drugs sold at patent medicine stores can no longer be guaranteed. He added that fake manufacturers collude with owners of patent medicine stores in the sale of fake drugs, adding that these people cannot distinguish between the original and fake which in turn is more rewarding in terms of profit. “Health is wealth; the eventual cost of managing the complications of diseases ‘bought’ from these patent medicine stores outweigh the cost of proper treatment in recognised hospitals and accredited health care facilities. “The Pharmacy Board and Local Government officials have an important

role to play in ensuring that only registered pharmacists own and manage patent medicine stores, dispensaries and pharmaceutical stores. “Hospital staff must also ensure that all cases resulting from quackery that come to them should be reported to police for immediate investigation and action. “Apart from been deprived of the correct drug, the customer is subjected to the harmful effects of using the wrong and potentially dangerous drug. Another source of danger is the sale of expired drugs. "A look into the expiring date of drugs in this patent medicine store will reveal that up to 40 per cent of

drugs being offered for sale are expired drugs. “Manufacturers advice specific conditions for retailed drugs which are not met in the hot, dusty environment of these chemists. The issue of fake drugs must not be overlooked. “Fake manufacturers collude with owners of patent medicine stores in the sale of fake drugs. Moreso, these people cannot distinguish between original and fake drugs. In actual fact, it is cheaper and more rewarding for them to buy fake drugs. “This is not the first time that someone is going to call the attention of government and all Nigerians to the terrible dangers posed to the health of the nation by socalled patent medicine stores and local chemists,” he said.

T H I S D AY ˾ ˜ SEPTEMBER 15, 2021

BUSINESS/MONEYGUIDE

Heritage Bank, Others Bankroll SCOA Supply of Trucks, Equipment to Julius Berger Worth N15.5bn Darasimi Adebisi Heritage Bank Plc, and seven other banks have provided a total of N15.5 billion to assist SCOA Nigeria Plc for the importation and supply of MAN Platform Trucks and equipment to Julius Berger Nigeria for construction of 380km Abuja-Kaduna-Kano roads and many others across the country. Specifically, Heritage Bank availed SCOA Motors an Advance Payment Guarantee (APG) of N4.64 billion for the project. Whilst, other banks – Zenith, Wema, UBA, Union, Unity, Coronation and Providus Banks complemented the global total sum. The sum total covers for 33 trucks and technological equipment. For the first phase

during the ceremony, 16 of the trucks were handed over to Julius Berger and the second phase of delivering will be executed next month. Commenting on the Official Handover Ceremony of Stateof-the-Art Man Trucks and Wirtgen Equipment to Julius Berger Nigeria Plc, the Managing Director/CEO of Heritage Bank Plc, Ifie Sekibo stated that the support efforts through project financing in the various sectors of the economy is one of the platforms that underscores the bank’s resolve and readiness to make a mark in the financial sector as a major pivot of socio-economic transformation of the country. The Regional Head, Lagos Mainland Zone of Heritage Bank, Mother Dan-Egwu, who represented Sekibo, said the bank partnered to support

SCOA Nigeria Plc for its long and outstanding presence in the automobile market, by retaining the cutting edge in their line of business. Dan-Egwu disclosed that Heritage Bank’s philosophy is to support businesses to grow in their discharge of duties. She was quoted to have said, “For us at Heritage Bank, our core business philosophy as a timeless wealth partner to our customers is captured in our mission to create, transfer and preserve wealth.” According to her, the bank’s field of engagement of support has so far been diversified, covering economic sectors such as Micro, Small and Medium Enterprises, agriculture, entertainment and arts, education, oil and gas, aviation and haulage as well as the public sector.

CIS Exposes Members to Marketing Financial Products, Services Desirous to enhance its members’ ability to take advantage of digital operations, the Chartered Institute of Stockbrokers (CIS), is set to hold capacity building on modern techniques of marketing financial products and services. The virtual training is expected to expose the participants to interrogate brands in the media age, modern communication strategy, ideation and how to attract and retain investors across the board. A statement by the Institute indicates that the training, Tagged, “Marketing Magic: The Art of Marketing in Digital Age,” will be lazed with case studies. According to the statement,

the training is not limited to securities dealers alone but every individual that deals with products and services. “The capacity building is consistent with our Members’ Continuing Professional Development (MCPD). Participation of our financial members is free. The course shall be recorded as part of their required points for MCPD. “ Managing customers is at the core of every business. Market dynamics change everyday. Every business organization requires patronage of its products and services. Our members should key into the techniques of marketing financial products and services in

the digital age. They should be exposed to the fundamental roles of the media in digital marketing and how to establish customer empathy. “They must understand new concepts to enable them develop new thinking in this regard. The capacity building shall be highly interactive and lazed with case studies. “The Institute has an array of capacity building for its members annually. This enables securities dealers and other capital market operators to interact with experts from various walks of life. The training cuts across all facets of the final market, ”statement added.

FrieslandCampina Celebrates 150 Years of Cooperative Global dairy cooperative, FrieslandCampina has flagged off series of activities to celebrate its 150th anniversary. Starting from its international headquarters in The Netherlands Wednesday 8 September, the dairy giant hoisted its anniversary flag simultaneously in all the production locations of FrieslandCampina across the world, including Nigeria. Executive Director, Corporate Affairs, FrieslandCampina WAMCO, Ore Famurewa, who announced the flag-off ceremony to the media in Lagos explained that the history of FrieslandCampina as a dairy

cooperative dates back to 1871 when some farmers established the ‘Vereeniging tot Ontwikkeling van den Landbouw in Hollands Noorderkwartier’ (Association for Agricultural Development in Hollands Noorderkwartier). She said, “This association is the oldest legal predecessor of Zuivelcoöperatie FrieslandCampina U.A. In 1872, 20 farmers in the Dutch village of Wieringerwaard in North Holland, decided to collaborate. The farmers bought a building, two cheese tubs and a weighing scale. They appointed a cheesemaker and the first official cooperation of farmers was established.

“In the village of Warga in Friesland, a group of farmers united also formed another cooperative. After many mergers, these cooperatives finally resulted in FrieslandCampina. Today, the dairy industry is one of the Netherlands’ most important industrial sectors” Famurewa explained.” Speaking, the Managing Director, FrieslandCampina WAMCO and sub-Saharan Cluster, Mr. Ben Langat, said: “Today, we share our history because we believe it is significant to encourage enterprise, promote collaboration and drive continued investment across the dairy industry.

NCRIB Unveils Bayeroas Brand Ambassador Olawale Ajimotokan ÓØ ÌßÔË The Nigerian Council of Registered Insurance Brokers, (NCRIB) has unveiled the Emir of Kano, His Royal Highness, Alhaji Aminu Ado Bayero as it brand Ambassador. The Emir of Kano is the third Nigerian to be so conferred with NCRIB Brand Ambassadorship. Speaking during the conferment, the President NCRIB, Dr.

Bola Onigbogi praised the North, most especially Kano State, for it significant historical, cultural and economic relevance in the nation’s scheme of things. She described the Emir as one of the most venerated traditional rulers worthy of emulation. She expressed hope that the Emir would deploy his position of influence to constantly enlighten his numerous subjects

about the benefits of Insurance to their properties and lives, most importantly; the need for them to engage registered Insurance Brokers in order to fully maximize the value of their insurances. Onigbogi said that Insurance Industry in Nigeria has not been able to occupy its right position in the nation’s economy, due to multifarious reasons; bothering on poverty, noxious religions and traditional beliefs.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, SEPTEMBER 9

The price of OPEC basket of thirteen crudes stood at $71.82 a barrel on Thursday, compared with $71.17 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 ˾ ˜ ͯͳ˜ ͰͮͰͯ

Market Capitalisation Up N2bn as Stock Market Ends Bearish Trend Darasimi Adebisi The Nigerian equities market yesterday closed trading activities in the green, to halt the six-days of consecutive bearish trend. The market upturn was due to investors’ renewed buying interest in the Financial and Industrial sectors, as capitalisation gained N2 billion. In summary, the Nigerian Exchange Limited (NGX) AllShare Index (ASI) grew by

4.88 basis points, representing an increase of 0.01 per cent, to close at 38,920.50 basis points. Similarly, the overall market capitalisation value gained N2 billion to close at N20.28 trillion. The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; UAC of Nigeria (UACN), Dangote Sugar Refinery, Africa Prudential, Oando and University Press.

P R I C E S MAIN BOARD

F O R DEALS

However, the market breadth closed negative, recording 21 losers as against 14 gainers. UACN Property Development Company (UPDC) recorded the highest price gain of 9.93 per cent, to close at N1.66, per share. Academy Press followed with a gain 8.33 per cent to close at 39 kobo, while Courteville Business Solutions appreciated by 7.41 per cent to close at 29 kobo, per share. Vitafoam Nigeria went up

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

by 3.88 per cent to close at N17.40, while Livestock Feeds appreciated by 2.88 per cent to close at N2.14, per share. On the other hand, Sovereign Trust Insurance led the losers’ chart by 7.41 per cent, to close at 25 kobo, per share. University Press followed with a decline of 6.42 per cent to close at N1.02, while Regency Alliance Insurance shed 6.25 per cent to close at 45 kobo, per share. UACN lost 4.85 per cent to

T R A D E D MAIN BOARD

A S

close at N9.80, while Chams declined by 4.55 per cent to close at 21 kobo, per share. Meanwhile, the total volume rose by 13.6 per cent to 228.479 million shares, worth N1.879 billion, and traded in 3,376 deals. Transactions in the shares of Wema Bank topped the activity chart with 46.761 million shares valued at N35.973 million. Access Bank followed with 28.240 million shares worth N263.495 million, while United

O F

Bank of Africa (UBA) traded 17.767 million shares valued at N135.079 million. Mutual Benefits Assurance traded 17.244 million shares valued at N4.879 million, while Fidelity Bank transacted 14.800 million shares worth N36.066 million. Analysts at Afrinvest Limited said that “In the next trading session, we anticipate a negative performance as market remains short of a positive catalyst.”

1 4 / 0 9 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, ͹ͽ˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAY SEPTEMBER 15, 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 13Sept-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 160.58 161.93 -0.81% Afrinvest Plutus Fund 100.00 100.00 6.20% Nigeria International Debt Fund 324.17 324.17 -15.98% Afrinvest Dollar Fund 109.81 110.86 -0.98% 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 3.30 3.46 -2.88% 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 7.96% Anchoria Equity Fund 133.02 134.67 0.77% Anchoria Fixed Income Fund 1.15 1.15 -13.83% 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 7.68% ARM Discovery Balanced Fund 430.89 443.88 7.62% ARM Ethical Fund 0.00 0.00 -100.00% ARM Eurobond Fund ($) 1.09 1.10 -0.56% ARM Fixed Income Fund 0.97 0.98 -7.05% ARM Money Market Fund 1.00 1.00 8.23% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.21 106.21 4.42% AVA GAM Fixed Income Naira Fund 1,033.69 1,033.69 3.37% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.05 2.05 -7.06% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.14 2.18 -6.90% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 8.54% Paramount Equity Fund 16.44 16.74 2.79% Women's Investment Fund 136.29 137.86 2.41% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.08% Cordros Milestone Fund 2023 118.76 119.52 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 108.06 108.06 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 7.96% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 5.21% EDC Nigeria Fixed Income Fund 1,158.39 1,175.79 0.59% 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 1,415.78 1,415.78 11.34% FBN Balanced Fund 191.31 192.56 1.93% FBN Halal Fund 112.71 112.71 9.89% FBN Money Market Fund 100.00 100.00 9.78% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

126.92 158.31

126.92 3.46% 160.33 4.71% fcmbamhelpdesk@fcmb.com

Bid Price N/A N/A N/A N/A

Offer Price Yield / T-Rtn N/A N/A N/A N/A N/A N/A N/A N/A coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

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 7.62% Vantage Balanced Fund 2.79 2.85 -2.41% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 153.11 153.39 -1.54% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.32% Vantage Dollar Fund (VDF) - June Year End 1.10 1.10 4.68% 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 1,150.67 1,150.67 5.94% 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 11.44 11.48 9.16% Meristem Money Market Fund 10.00 10.00 9.17% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.66 1.69 7.16% PACAM Fixed Income Fund 11.58 11.57 -4.83% PACAM Money Market Fund 10.00 10.00 6.59% PACAM Equity Fund 1.65 1.66 4.26% PACAM EuroBond Fund 113.18 115.12 3.07% 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 130.98 133.26 8.69% 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 10.02% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,298.23 3,332.91 2.69% Stanbic IBTC Bond Fund 232.93 232.93 3.59% Stanbic IBTC Ethical Fund 1.22 1.24 4.24% Stanbic IBTC Guaranteed Investment Fund 307.29 307.29 4.29% Stanbic IBTC Iman Fund 226.08 229.42 3.58% Stanbic IBTC Money Market Fund 100.00 100.00 7.58% Stanbic IBTC Nigerian Equity Fund 10,452.34 10,595.01 -0.43% Stanbic IBTC Dollar Fund (USD) 1.27 1.27 3.82% Stanbic IBTC Shariah Fixed Income Fund 115.62 115.62 4.09% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 103.71 103.71 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.31 1.33 2.28% United Capital Bond Fund 1.92 1.92 4.61% United Capital Equity Fund 0.87 0.89 9.21% United Capital Money Market Fund 1.00 1.00 9.45% United Capital Eurobond Fund 120.25 120.25 4.99% United Capital Wealth for Women Fund 1.06 1.08 4.09% United capital Sukuk Fund 1.06 1.06 6.23% 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 12.84 12.95 8.17% Zenith Ethical Fund 14.29 14.44 17.08% Zenith Income Fund 24.36 24.36 1.57% Zenith Money Market Fund 1.00 1.00 6.24%

REITS NAV Per Share

Yield / T-Rtn

124.98 53.10

10.62% 5.15%

Bid Price

Offer Price

Yield / T-Rtn

13.29

13.39

0.58%

121.05 96.32 17.17 18.29

124.07 98.43 17.27 18.39

0.67% -2.92%

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

3.86 5.47 17.36 1.00 19.47 157.47

3.90 5.55 17.46 1.00 19.67 159.47

2.19% -3.80% 6.98% 7.58% -5.08% -28.38%

NAV Per Share

Yield / T-Rtn

107.40

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY, SEPTEMBER 15, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

BEATING UP CAMEROONIAN POLICEMEN ON THE RISE – OFFICIALS

Officials in Cameroon say there has been a jump in cases of civilians assaulting police officers. Videos shared on social media in Cameroon show citizens mocking and battering police in

response to alleged brutality and corruption. Paul Atanga Nji, the territorial administration minister, also tasked with civilian protection, says at least 15 videos of civilians refusing police orders and attacking officers have been

shared on social media platforms within the past two weeks. Nji said the police force confirmed its officers were the victims in the videos. In some cases, he said, police have been

victims of humiliation, battery and other forms of assault from civilians the police are supposed to protect. In one video, a driver refuses a police demand to search his car, hits the police officer and then runs him over with his car while some bystanders applaud, VOA reports. Another video shows a civilian carrying a police officer on his shoulder before throwing him on the back of a truck. The civilians are believed to be retaliating for acts of police brutality or corruption. Nji said if civilians have grievances, they should send complaints of alleged police misdeeds to the chief of police, who can take disciplinary action. Police officials deny the allegations, saying most officers in Cameroon are neither corrupt nor take part in civilian abuse.

R. KELLY ABUSED AALIYAH WHEN SHE WAS 13 OR 14, COURT HEARS

R. Kelly sexually abused the late R&B singer Aaliyah when she was 13 or 14 years old, one of his former backing dancers has told a court. The woman, who testified under the name Angela, told Mr Kelly’s trial she had seen the chart-topping star perform a sex act on Aaliyah on a tour bus, BBC reports. Angela’s testimony came on the 15th day of the trial in Brooklyn, New York. The alleged incident took place a year before Mr Kelly illegally married the

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 15, 2021

FOREIGN DESK singer when she was 15. Mr Kelly, 54, denies all the charges against him. They include a single count of racketeering - which paints him as the kingpin of a criminal enterprise whose explicit purpose was “to prey upon young women and teenagers” for sexual purposes. He has also been charged with eight counts of violating an interstate anti-sex trafficking law. The singer, whose full name is Robert Kelly, is not charged with rape or assault, but prosecutors are allowed to present evidence of potential crimes related to the racketeering charge, regardless of when they occurred.

OUTRAGE OVER DOLPHINS SLAUGHTERING OFF DENMARK’S FAROE ISLANDS

The tradition of slaughtering dolphins off of Denmark’s Faroe Islands is sparking new outrage, Anadolu Agency reports. The annual hunt, known locally as grindadrap, during which whale hunters kill masses of white-sided dolphins, took place on Saturday and Sunday, said French news outlet News 24. The remote islands, a Danish autonomous territory, remain the last place in Europe allowed to hunt sea mammals, as the hunt is considered an example of indigenous whaling. Citing local sources and the Blue Planet Society, a volunteer group aiming to end overexploitation of the world’s oceans, News 24 said over 1,400 white-sided dolphins were killed in this year’s hunt. The Blue Planet Society has urged the EU, Danish and local authorities in the Faroe Islands to end the tradition. Saying that this year’s hunt could be the largest ever recorded, the group said on Twitter: “There is nothing in recent grindadrap records that matches this. The closest we could find is 430 whitesided dolphins butchered on 13-08-2013 in Hvalba.”

SOUTH KOREA FINES GOOGLE $176M FOR MARKET ABUSE

A South Korean antitrust regulator has fined Alphabet Inc’s Google 207 billion won ($176.64m) for blocking customised versions of its Android operating system (OS), in the US technology giant’s second setback in less than a month. The Korea Fair Trade Commission (KFTC) on Tuesday said terms with device makers amounted to the abuse of Google’s dominant market position that restricted competition in the mobile OS market. Google’s mobile operating system powers more than 80 per cent of smartphones around the world. Google said in a statement it intends to appeal. It said the ruling ignores the benefits offered by Android’s compatibility with other programs and undermines advantages enjoyed by consumers. The fine, one of the highest levied in the country over abuse of market dominance, comes on the day an amendment to South Korea’s Telecommunications Business Act – popularly dubbed the “anti-Google

NICARAGUA CRACKDOWN ON OPPOSITION WORSENS AHEAD OF ELECTION A report submitted to the UN Human Rights Council blasts the Nicaraguan government’s harsh crackdown on opposition leaders in advance of the November 7 Presidential and Parliamentary elections. Critics accuse Nicaraguan President Daniel Ortega of systematically ridding himself of viable opposition candidates to secure a fourth consecutive term as President of the country. In her latest update to the Council, according to the VOA, UN High Commissioner for Human Rights, Michele Bachelet, said increasing restrictions by Nicaraguan authorities on peoples’ right to vote are undermining free and fair elections. She said Nicaraguans should exercise their right to vote without intimidation, violence, or administrative law” – came into effect. The law now bans app store operators such as Google from requiring software developers to use their payment systems – a requirement that effectively stopped developers from charging commissions on in-app purchases.

AMERICA-CHINA COLD WAR: US REVOKES STUDENT VISAS OF 500 CHINESE

After a semester online, Wang Ziwei

interference. Her report documents the arbitrary detention of 16 people between June 22 and September 6. They include political leaders, human rights defenders, businesspeople, journalists, as well as peasants and student leaders. She said these arrests are in addition to 20 other government opponents detained since May 28. The Public Prosecutor’s Office says most of the people detained are accused of conspiracy to undermine national integrity and other crimes linked to the implementation of cooperation funds. UN rights chief Bachelet said attacks on freedom of expression and against the media and journalists have intensified.

looked forward to meeting classmates who are returning to campus at Washington University in St. Louis. But the 23-year-old finance student said the US revoked his student visa on security grounds. Wang is among at least 500 students the Chinese government says have been rejected under a policy issued by then-President Donald Trump to block Beijing from obtaining US technology with possible military uses, says the AP. “The whole thing is nonsense,” Wang said. “What do we finance students have to do with the military?” The students join companies and individuals whose plans have been disrupted by U.S.-Chinese tension over technology and security, Beijing’s military buildup, the origins of the coronavirus, human rights and conflicting claims to the South China Sea and another territory. The policy blocks visas for people affiliated with the ruling Communist Party’s military wing, the People’s Liberation Army, or universities deemed by Washington to be part of military modernization efforts. US officials say they believe thousands of Chinese students and researchers participate in programs that encourage them to transfer medical, computer and other sensitive information to China. Washington cites Beijing’s strategy of “civil-military fusion,” which it says treats private companies and universities as assets to develop Chinese military technology. “Joint research institutions, academia

and private firms are all being exploited to build the PLA’s future military systems — often without their knowledge or consent,” the State Department said in a 2020 report. According to The Paper, a Shanghai online news outlet, Chinese officials appealed to US Deputy Secretary of State Wendy Sherman to drop the visa restrictions when she visited in July.

MAIN WITNESS IN NETANYAHU’S CORRUPTION TRIAL KILLED IN PLANE CRASH

A main prosecution witness in the corruption trial of former Israeli Prime Minister Benjamin Netanyahu died in a plane crash in Greece, according to Israeli media on Tuesday. Haaretz newspaper said two people had died in the crash; Haim Garon, the former deputy director of the Communications Ministry, and his wife, Esti Garon, says Anadolu. Haim Garon was a main prosecution witness in the case known as “Case 4000”, in which Netanyahu is accused of bribery, fraud and breach of trust. On Monday, the Israeli Central Court in East Jerusalem resumed Netanyahu’s corruption trial after a 3-month hiatus. Greek authorities are investigating the cause of the single-engine plane crash, which went down off the island of Samos in the eastern Aegean on Monday.

WEDNESDAY SEPTEMBER 15, 2021 • T H I S D AY

WEDNESDAY, ͹ͽ˜ ͺ͸ͺ͹ ˾ T H I S D AY

FORTY-NINE BUHARI RALLIES BANKING SECTOR SUPPORT TO LIFT NIGERIANS OUT OF POVERTY COVID-19 pandemic. This is just as the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, revealed that the Infrastructure Corporation of Nigeria (InfraCorp) Plc established in collaboration with the African Finance Corporation (AFC) and the Nigerian Sovereign Investment Authority (NSIA) to raise N15 trillion for infrastructure development would be unveiled in October. Emefiele also hinted that the Nigerian International Financial Centre (NIFC) which would act as an international gateway for capital and investments, driven by technology and payment system infrastructure, would also be established within the next 12 months. The president and the CBN Governor said this at the opening ceremony of the 14th Annual Banking and Finance Conference of Chartered Institute of Bankers of Nigeria (CIBN) in Abuja. Buhari hailed institute and the entire banking and finance industry for the commitment towards charting a practical path for economic recovery and transformation of country and Africa in general. Bihari who spoke virtually said: “I commend the financial services industry for its interventions and contributions towards the promotion of financial inclusion and literacy in our country. And more importantly, the roles played by the banks in fostering economic growth of the country. "We need you, the banks to drive value creation by developing new technologies, scaling payment infrastructure to serve the diversified economies expected to benefit from this agreement." He said technological innovation was also important in the modern business terrain, noting that most transactions now take place online given the advent of the Internet of Things. He said: “As we continue to progress towards the next frontiers of digitalisation, we must harness all opportunities while being mindful of the inherent risks. For example, the protection of data is now of utmost importance to provide users with more secure access to the online space.’’ Among other things, the president said ongoing efforts to reduce poverty in the country has continued to grow, with 1.6 million poor and vulnerable households, comprising more than 8 million individuals currently benefiting from the Conditional Cash Transfer programme, while N300 billion had been disbursed to farmers. He also said the National Social Register of poor and vulnerable Nigerians had 32.6 million persons from seven million poor and vulnerable households identified, urging the banking sector to play a stronger role in improving livelihoods. Buhari added: “From this number, 1.6 million poor and vulnerable households, comprising more than eight million individuals are currently benefiting from the Conditional Cash Transfer program, which pays a bi-monthly stipend of N10, 000 per household." He added that the National Social Investment Programme remained the biggest in SubSahara Africa and one of the largest in the world. However, at the confer-

ence, with the theme: "Economic Recovery, Inclusion and Transformation: The Role of Banking and Finance," in Abuja, Emefiele further extolled the role of monetary policy as well as the banking sector in ensuring that the economy emerged out of recession by the fourth quarter of the year. He also said the banking sector must pay attention to providing long-term finance for infrastructure development in the country. He also said with the decline in revenues due to federal and state governments following the drop in crude oil prices, alternative ways of funding infrastructure would be critical if the country is to generate sustained growth of our economy. He explained that upcoming InfraCorp would enable the use of mostly private capital to support infrastructure investment that would have a multiplier effect on growth across critical sectors. He said the purpose of the N15 trillion being raised was to address some of the country's infrastructure needs, while providing reasonable returns to investors. The CBN Governor added: "We believe this well-structured fund can act as a catalyst for growth in the medium and long run. The support of the banking community will be important in achieving this objective." Emefiele, however, noted that the banking sector had been critical in ameliorating the adverse impact of the COVID-19 pandemic on Nigerians. The CBN governor maintained that it was imperative from both an economic and security point of view that the banking and financial system continued to support growth in sectors that have significant growth potential, saying it would enhance the resilience of the economy in the face of external shocks. He pointed out that to consolidate on the growth and resilience of Nigerian banks, the NIFC which he termed

a new financial hub, would curate local and international banks to make them global champions. He further explained that the NIFC would be a 24/7 financial centre that would complement London, New York and Singapore financial centers and enable an acceleration of home grown initiatives including the Infracorp Plc. According to Emefiele, the NIFC would also complement initiatives on the Nigerian Commodity Exchange and the National Theatre creative hubs for youths as well as the e-naira project which would also debut in October. Speaking further, he said the NIFC would take advantage of existing laws particularly the BOFIA 2020, Nigerian Export Processing Zone Authority (NEPZA) and other CBN regulations to create a fully global investment and financial hub where monies, ideas, and technology will move freely without hindrance. Emefiele also said about $500 million had been invested in indigenous payment companies between 2015 and 2020, adding that the platform had continued to evolve towards meeting the needs of households and businesses in the country. Nevertheless, the apex bank boss said despite the various progress recorded in the banking and financial sector, about 36 per cent of the adult population currently lacked access to financial services in the country. He said improving access to finance for individuals and businesses through digital channels could help to improve financial inclusion, lower the cost of transactions, and increase the flow of credit to businesses He was also upbeat about the proposed central bank digital currency, known as the e-Naira which is expected to be unveiled next month, saying it would foster greater inclusion using digital channels, supporting cross border payments for businesses and firms as well as providing a

reliable channel for remittances inflows into the country. Emefiele said when fully deployed, the e-Naira would ensure that Nigerians in remote areas conduct financial activities using their digital as well as feature phone devices. He, however, pointed out that the support of the financial industry would be critical in the deployment of the electronic money, adding that efforts were ongoing to encourage continued partnership between the CBN and stakeholders in the financial industry. The CBN governor also said the apex bank had been able to reverse rising headline inflation which fell to 17.38 per cent as of July 2021, and now in its fourth consecutive month of this decline. He said, "Reflecting on several measures put in place by both the fiscal and monetary authorities, we do expect that the pace of inflation will continue to moderate in the following months as we approach the harvest season." “Let me add that while we have been able to contain some of the effects of the COVID-19 pandemic on our economy, it is imperative that we work to build a more resilient economy that is better able to contain external shocks, whilst supporting growth and wealth creation in key sectors of our economy. "Proactive steps on the part of stakeholders in the banking and financial system in supporting the growth of sectors such as agriculture, ICT and infrastructure, will strengthen our ability to deal with the challenges that have been brought on by COVID-19, and stimulate the growth of our economy." Emefiele also emphasised the important role the banking community could play in fostering greater growth and stability to sectors significantly impacted by the pandemic while also supporting investments in key sectors of the economy that could have a multiplier effect on growth. The Vice President, Prof.

Yemi Osinbajo, who stressed the need for banks to invest in housing and electricity projects, said the banks were not doing much in supporting the federal government’s efforts in the areas of housing and electricity. According to Osinbajo, “It is either the finance sector is shy to invest in housing projects, or have not found the right housing finance model that will work for them. Nigeria do not have a functional mortgage housing system, which is the most reliable source of generating capital for individuals. “Banks should come up with innovations such as housing financing, by supporting poverty reduction and economic growth. Ubiquitous housing for example will create employment and generate demand for related services.” Osinbajo also stressed the need for banks to join forces with the federal government to address climate change. “One of the cheap consideration, especially for developing countries is how to move from fossil fuel-based power sources to renewable energy. It is a significant challenge, and an enormous opportunity for developing countries. “To achieve this, the federal government established an integrated Solar System for the electrification of five million houses, to serve about 25 million Nigerians, under the Economic Sustainability Plan of government. The CBN set aside N150 billion for the programme, made available through the bank’s initiated programme that is administered by the banks. “The programme has three core objectives: Expanding energy access to 25 million Nigerians; Increasing local contents; and Creating values chain experience. The programme is designed to supply cheap financing for developers, manufacturers and suppliers of electric components. The federal government is providing subsidy of between 20 to 30 per cent for each successful installation,

through the rural electrification agency programme, to further de-risk each transaction and the project has been on in the last two years,” Osinbajo added. Also, speaking at the occasion, the Governor of Lagos State, Mr. Babajide Sanwo-Olu called on financial institutions to focus on solutions that would cater to the vulnerable in the society and enhance inclusive growth. He said, “The challenge of poverty, I am sure we all know predates COVID-19 and even as we focus on defeating the pandemic, we certainly should not forget that the entire world is so faced with a lot of poverty, inequality.” He said more than ever, banking and financial institutions needed to step up with new innovative financing mechanisms and solutions that would focus on the marginalised and vulnerables in different parts of life. "And they can help them and bring them out of poverty and all of the issues around inequality that we have in our environment. And help public institutions so that we can build a world class that we believe will be just, will be fair, will be equitable in all respects," he said. Sanwo-Olu added: "I commend the CBN for the initiative around the infrastructure funds that they are trying to put together, and I believe that it will help both the national and sub national to be able to build back quicker, better and faster.” Also, President of Rwanda, Paul Kagame who graced the occasion virtually said the COVID-19 pandemic had affected every aspect of the economy, adding that the pandemic also presented an opportunity for Africa’s banks to play a leading role in making societies more resilient and responsive to the needs of the people. He said, "Whatever affects business affects banking. Financial services, the engine of private sector and banks are crucial for getting the capital wisely for productive lead and Africa has the forces.”

PRESIDENT SEEKS SENATE APPROVAL FOR $4.179BN, €710M EXTERNAL LOANS ment Borrowing Plan are to be financed through sovereign loans from the World Bank, French Development Agency (AFD), China-Exim Bank, International Fund for Agricultural Development (IFAD), Credit Suisse Group and Standard Chatered/China Export and Credit (SINOSURE) in the total sum of $4,054,476,863.00; €710,000,000.00 and Grant Component of $125,000,000.00. He explained that the amount would be used to fund federal and state projects cut across key sectors such as infrastructure, health, agriculture and food security, energy, education and human capital development and COVID-19 Response efforts. According to the president, the projects which are spread across the six geo-political zones of the country would bring about employment generation and poverty reduction, as well as protection of the most vulnerable and very poor segments of the Nigerian society. The letter read in part: “I write in respect of the above subject and to submit the attached addendum to the proposed 2018-2021 Federal Government External Borrowing (Rolling) Plan for the consideration and concurrent approval of the Senate for same to become effective. “The Senate President may wish to recall that I earlier transmitted a request on the proposed 2018-2020 Federal Government

External Borrowing Plan for the concurrent approval of the Senate in May, 2021. “However, in view of other emerging needs and to ensure that all critical projects approved by FEC as at June 2021 are incorporated, I hereby forward and addendum to the proposed Borrowing Plan. “The projects listed in the addendum to the 2018-2021 Federal Government External Borrowing Plan are to be financed through sovereign loans from the World Bank, French Development Agency (AFD), China-Exim Bank, International Fund for Agricultural Development (IFAD), Credit Suisse Group and Standard Chartered/China Export and Credit (SINOSURE) in the total sum of $4,054,476,863.00; €710,000,000.00 and Grant Component of $125,000,000.00.” The president added: “The Senate is kindly invited to note that the projects and programmes in the Borrowing Plan were selected based on positive, technical and economic evaluations and the contribution they would make to the socio-economic development of the country including employment generation and poverty reduction as well as protection of the most vulnerable and very poor segments of the Nigerian society. “The Senate may also wish to note that all the listed projects in the addendum form part of the

2018-2021 External Borrowing Plan and cover both the federal and states government projects and are geared towards the realisation of the Nigeria Economic Sustainability Plan that cut across key sectors such as infrastructure, health, agriculture and food security, energy, education and human capital development and COVID-19 response efforts. “A summary of some key projects in each of the six geopolitical zones and a summary on the expected impacts on the socio-economic development of each of the six geo-political zones are attached herewith as Annex II and III. “Given the importance attached to the timely delivery of the projects listed in the proposed Borrowing Plan and the benefits both the federal and state governments stand to gain from the implementation of same, I hereby wish to request for the kind consideration and concurrent approval of the Senate for projects listed in the addendum to the 2018-2021 Federal Government External Borrowing Plan to enable the projects become effective.” Buhari, APC Selling Nigeria, PDP Cries Out Meanwhile, the PDP has the planned borrowing would further mortgage the nation. The PDP in a statement by the National Publicity Secretary, Kola Ologbondiyan, lamented that

with the endless borrowing by president Buhari and the APC, Nigerians might eventually not have a nation and a patrimony they would be able to freely call their own. The PDP further stated that with the N33.107 trillion debt already accumulated by President Buhari and the APC, “with nothing to show but decayed infrastructure and a depressed economy, with the additional borrowing proposed by Buhari for the 2022 budget and now a fresh N2.66 trillion external loan, the APC would be hanging over N40 trillion debt on the nation, with no clear-cut repayment plan.” More alarming, the PDP stated were the debts, “the APC is hanging on Nigerians are for nebulous projects whose scopes, utilities, locations and contractors are largely vague; a development that validates apprehensions of a huge swindle on our nation at the expense of innocent Nigerians, including generation yet unborn.” The party added: "Our party holds it as an act of wickedness that individuals who know that they will be leaving office in less than two years will be accumulating debts instead of seeking ways to reduce the liability they have brought upon our nation." According to the PDP, "the APC knows it will not be around after May 29, 2023. That is why it is pushing our nation into deeper

economic quagmire with foreign loans, which are largely diverted to personal pockets of their corrupt leaders. "Given their incompetence, corruption and manifest nonchalant attitude to the plights of Nigerians, the APC and its administration have not shown any commitment towards wealth creation as expected of any responsible government." Rather, the party said the APC had resorted to reckless borrowing, “pillaging of the national vault and suppression of our productive sectors; a development that have crippled our Gross Domestic Produce (GDP) to the extent that our naira, which the PDP handed over to the APC at N167 to a dollar, has now collapsed to a dismal and all-time low of N557 to a dollar under the APC." The PDP called on the National Assembly to save the nation by rising above partisan sentiments, “to reject this latest request by President Buhari for a fresh foreign loan.” The PDP also urged the National Assembly to immediately commence an open investigative hearing on all the loans collected by President Buhari especially with allegations that such loans were being diverted to the personal pockets of APC leaders, the cabal in the Presidency as well as APC government functionaries and their cronies.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Gbajabiamila Endorses Sanwo-Olu for Second Term, Says He’s Doing Well Denies nursing gubernatorial ambition Segun James The Speaker, House of Representatives, Femi Gbajabiamila has subtly endorsed the Lagos State Governor, Mr. Babajide Sanwo-Olu for a second term and dispelled

rumours that he had a governorship ambition. Gbajabiamila, who insisted that Sanwo-Olu deserved a second term based on his performers, spoke during an interview on a national television.

The surprise endorsement came on the hills of speculations that the speaker was nursing the ambition to challenge Sanwo-Olu for the governorship position in 2023. But, according to the Speaker, Sanwo-Olu has positioned Lagos

State on the path of growth, despite the state being hit by inadvertent crises in the past year. Gbajabiamila said Sanwo-Olu has been doing a “good job” in governing Lagos, and that the governor must not be distracted

on the assignment. “The present Governor of Lagos State (Sanwo-Olu) is doing a good job. The fact that we had a one-term governor at one time doesn’t mean it is going to be the same forever. This governor is doing a good job

Africa Capitalworks Invests in Dorman Long Engineering Dike Onwuamaeze and Peter Uzoho The Africa Capitalworks (ACW), a Sub-Saharan Africa-focused private equity company, has made a significant equity investment in the Dorman Long Engineering Limited (DLE) of Nigeria. The Managing Partner of the ACW, Mr. Nana Sao, explained during the agreement signing ceremony between the two organisations in Lagos, that the investment would enable the DLE to further its next phase of growth. The deal was consummated with the Chairman of Dorman Long Engineering, Dr. Timi AustenPeters signing for his company, Sao signed for his organisation, just as the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote acted as a witness. Sao said: “We look forward to partnering with the DLE team to support its next phase of growth. DLE has built a strong reputation over 70 years of operating in Nigeria and its manufacturing facilities have internationally-recognised quality and product certifications. We are thrilled to support DLE’s accomplished management team in this dynamic sector.” Speaking in the same vein, Austen-Peters, explained that the partnership with ACW would bring complementary skill set, strategic insights and differentiated value proposition as a permanent capital vehicle to bear with the company’s operations. Austen-Peters said: “This investment marks the start of a new journey for Dorman Long, and I am delighted in the vote of confidence executed by our partner, ACW.” He added: “The hard work, focus, and dedication of our team during this process further showcases the depth of our capacity and our resilience to overcome economic challenges, including cyclical oil prices, the COVID-19 pandemic, and the business environment in Nigeria. “We have partnered with ACW on the basis of its complementary skillset, strategic insights, and differentiated value proposition as a permanent capital vehicle. We look forward to accelerating the implementation of our growth plans and expanding our rich range of capabilities and geographical presence.” The DLE is an indigenous and market-leading company, which provides high-value engineering services, fabrication, asset management, and galvanising services to a range of high-quality international and domestic customers. The company employs over 400 people. The ACW is a member of the Capitalworks Group, which is a leading independent alternative asset manager concentrating in emerging markets with control over US$1 billion for a diverse range of investors. It is focused on the mid-market in Sub-Saharan Africa, excluding South Africa, and combines the deployment of patient capital with a strong partnership approach. Meanwhile, Wabote, has decried the propensity of Nigerians at top positions in the international oil

companies (IOC) to sabotage their own country by insisting that oil and gas jobs in the county be sent to foreign countries for execution. Speaking at the agreement signing ceremony between the two organisations, Wabote further lamented that Nigerians working with IOCs were always in the habit of working against their fellow Nigerians trying to participate in the industry's businesses and projects. He added that more worrisome was the fact that even the indigenous Nigerian companies were the biggest culprits in the act. He noted that the motive of those Nigerians were neither driven by their believe in the country, creating employment opportunity, nor about

adding value to the country, but about taking opportunities out of the country. This, he said, was a major challenge he contended with while trying to push Nigerian capabilities in the oil and gas industry, likening such challenge to the tornadoes America faces on a daily basis. Wabote said, "If anybody thinks that my job is easy, you are making a big mistake. The headwind that I face as a person trying to push Nigerian capabilities in the oil and gas industry is even more than the tornado that America faces every other day. "The same Nigerians that are in the international oil companies stand against Nigerians participating in those businesses, which is very sad. And they do this with all impunity.

"I get a headwind of the IOCs managed by Nigerians, saying no, we should take this jobs out of the country in order for people to be execute. The sorry state is that even the indigenous Nigerian companies are the biggest culprits who want to take the jobs out from the country. "On a continuous basis in most of the companies, you have those Nigerians, whose motive are driven by something else, not about even believing in the country, not about creating employment opportunity, not about adding value. It's all about expatriation, it's all about taking the needed foreign exchange out of this country." He recalled that similar challenge surfaced when they wanted to integrate Total's 200,000 barrels

per day production Egina FPSO in Lagos, the biggest of such in the world today, saying the "opposition" to the project at the time "knew no bounds". According to him, "Today, we are proud to say that Egina FPSO -200,000 barrels per day production was integrated here in Lagos, and six of the 12 modules were fabricated here in Lagos. "That is dreaming and wanting to create jobs. Through a tight process, we had about 4000 Nigerian welders participating in that project. But today, all we get is serious resistance from our own Nigerians who should believe in it. But we will not give up, because we have an assignment and we will continue to push the boundaries".

under the current circumstances. It’s been a difficult time in his last two years and he has come out well. So, why should anyone upset the apple cart? I think he (Sanwo-Olu) is doing a good job.” Asked if he had a governorship ambition, Gbajabiamila said: “That (question) provokes a smile. No, I don’t have any such plan and I don’t have immediate plan. I have a job I am doing right now; it’s a very tough job. Sometimes, it’s the most difficult job and I say it to people in the world. People don’t understand that, but this is not a forum I’m going to break it down.” The Speaker reiterated that the task before him as nation’s number four citizen was enormous and tough enough for him to be distracted by the rumour. “I don’t want distractions. I am working as a Speaker of the House of Representatives with a lot of responsibilities on my shoulder right now. Any other thing would be a distraction. As for Lagos State Governorship? I have not even thought about it. Why? Because the present governor is doing a good job.”

WHEN FMFAC CAME CALLING... L-R: Chairman, Fiscal Eﬃciency and Budget Committee of the Revenue Mobilization Allocation and Fiscal Commission (RMFAC), Alhaji Adamu Shettima Yuguda Dibal; Ogun State Governor, Prince Dapo Abiodun and Ogun State Commissioner for RMFAC, Hon. Adebayo Fari, when the commitee paid the governor a courtesy visit in his oﬃce at Oke Mosan, Abeokuta, Ogun State... yesterday

You’re Pampering Terrorists, Pyrates Confraternity Tells Buhari Olusegun Samuel in Yenagoa

The National Association of Seadogs otherwise known as the Pyrates Confraternity, has blamed the attacks on military facilities in the country on President Muhammadu Buhari-led federal government’s decision to pamper terror suspects. According to the association, so-called bandits have become embolden because of the culture of impunity, which the Buhari administration has allowed to thrive. The NAS Capoon, Mr Abiola Owoaje, in statement made available to newsmen in Yenagoa, Bayelsa state, said, "Federal Government must rethink its war on terrorism”

and called on the government to get serious in prosecuting terror suspects if it hoped to win the war against terror. While describing the previous attack on the NDA and the recent attack of the Forward Operating Base in Mutumji, Dansadau Local Government Area of Zamfara State as embarrassing, it lamented that terrorism and all kinds of atrocious crimes had blossomedunder the present administration, because the government had been trivialising terrorism. Owoaje faulted the deradicalisation policy of the federal government for not being transparent and called for the immediate trial of all terror suspects to demonstrate the federal government

sincerity to tackle terrorism. “It is incongruous that a country ranked third in the Global Index of Terrorism is seemingly unable to interdict the sponsors of terror and negotiating with these criminal elements, and even unconstitutionally granting pardons to self-confessed murderers and ‘reintegrating’ them back into the society through a non-transparent deradicalisation policy. “President Buhari as the Commander-in-Chief leading the security agencies must do more to convince Nigerians on the sincerity of his government’s fight against terrorism. We reiterate that the government should rethink its strategies to combat terror by ceasing all manner of

negotiations with criminal elements in the northeast and northwest. The recent disclosures by Governors Matawalle and Masari on the failed negotiation with bandits show that from the onset, negotiating with bandits was a self-defeatist strategy. “To this end, the hundreds of terror suspects in various detention centres should be screened and those found culpable of mass murder and other crimes should be put on trial immediately. Also, the 400 Bureau De Change (BDC) operators, that the office of the Attorney-General, Mr Abubakar Malami announced in May 2021, of being implicated as sponsors and financers of terrorism should be immediately put on trial.

“A similar trial and conviction of six Nigerian bureau de change operators for sponsoring terrorism in United Arab Emirate in November 2020 is a pointer to the Nigerian government on how not to pamper terror suspects. “Finally, and for the umpteenth time, we demand that the federal government and our security agencies get serious with intelligence gathering to weed out internal collaborators, identify sponsors of terror, cut off their sources of funding, supplies and punish severely those found guilty. Nigerians are tired of the excuses; President Buhari should act now before terrorists overrun his government and our country.”

WEDNESDAY SEPTEMBER 15, 2021 ˾ T H I S D AY

NEWS

Private Jets Owners Aid Gold Smuggling, Minister Alleges Canvass capital punishment for offenders, illegal miners

Deji Elumoye and Emameh Gabriel in Abuja Minister of State for Mines and Steel Development, Dr. Uche Ogah, yesterday accused private jet owners of aiding gold smuggling in the country. He has, therefore, canvassed for capital punishment for gold smugglers as well as illegal miners. The minister spoke at an investigative hearing on $9billion annual loss to illegal mining and smuggling of Gold, organised by the Senate Committee on Solid Minerals, Mines, Steel Development and Metallurgy. He said: “Gold smuggling in Nigeria are often done using private jets , the very reason why private jets ownership and operations need to be streamlined in the country”. The minister lamented further that gold smuggling and Illegal mining which are robbing the country of billions of dollars on yearly basis, thrive due to series of factors like connivance of security agencies with the offenders, host communities collaboration, low level of application of technology and negative mindsets of Nigerians to Nigeria. “For these crimes to be fought decisively, potent

punitive measure like capital punishment, need to be legally provided for”. He, however, added that the menace can be tackled proactively through establishment of Mines Police

, Special Court or Tribunals to try offenders , adequate funding for the Ministry and positive mindsets of Nigerians to Nigeria. “The main crux of the matter is for us to be Nigerian by seeing

ourselves as Nigerians in all circumstances. Doing this , will make us see mineral resources in our communities as collective wealth of all Nigerians that must not be illegally explored by anybody within or from outside

the country”, he stressed. According to him, illegal mining in Nigeria dated back to the early 1980s as a result of the indiginisation policy of the military regime in the late 1970s.

The menace, he explained, was prompted by the inability of indigenous workers to obtain mineral titles and required technology for mining used by the British miners before the indiginisation policy.

COURTESY VISIT…

L-R: Second National Deputy President of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mr. Jani Ibrahim; National President of NACCIMA, Mr. Ide John Udeagbala; and Chief Executive Officer, Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo, when NACCIMA delegation visited NEPC in Abuja…recently

Ugwuanyi Signs Anti-Open VAT Bill Passes Second Reading in Ogun Assembly as a viable federating unit The motion for the second Sobukanla, Ganiyu Oyedeji, James Sowole in Abeokuta Grazing Bill into Law amongst the comity of States reading of the bill, was moved Adegoke Adeyanju and The bill for to make law generating worthy financial by the Majority Leader, Abdul Bashir Oladunjoye, Gideon Arinze in Enugu

Enugu State Governor, Ifeanyi Ugwuanyi, has signed the state’s anti-open grazing bill into law. The bill, which was signed into law at the Government House, Enugu yesterday, is intended to prohibit open grazing, regulate cattle ranching, and for connected purposes. The bill was only recently passed by the Enugu State House of Assembly, where leader of the House, Ikechukwu Ezeugwu, explained that it would be cited as the “Prohibition of Open Grazing and Cattle Ranching Law of Enugu State” after the governor’s assent. The signing of the bill into law is expected to address cases of conflicts between farmers and herders in the state which

has led to the destruction of lives and property. Ugwuanyi’s assent to this bill is expected to improve security and peace in the state. However, only seven states in Nigeria namely: Bayelsa, Rivers, Oyo, Ekiti, Abia Ondo, Lagos have complied with the decision to enact the anti-grazing law as directed by the 17 southern states governors at the Asaba Declaration in May this year. In Osun, Ogun and few other states respectively, the Houses of Assembly have passed relevant laws awaiting governors’ assent, while in Imo, Akwa Ibom and Delta States, the law is still in the works in their various legislative houses. But there is no indication that anti-open grazing law is underway in Cross River, Ebonyi and Anambra States.

authorising Ogun State to collect Value Added Tax (VAT), the Ogun State Value Added Tax Law, 2021, has scaled first and second readings on the floor of the State House of Assembly The bill, when becomes law and operational, would accord the state its rightful position

returns in the country. The lawmakers took turn to throw their weight behind the bill title, “H.B No. 73/ OG/2021- A Bill for a law to impose and charge Value Added Tax on certain goods and services, provide for the administration of the Tax and for related purposes”,

Honourable Yusuf Sheriff and seconded by Honourable Ganiyu Oyedeji. It was unanimously supported by the whole House through a voice vote at a plenary presided over by Speaker, Olakunle Oluomo. Contributing to the debate on the bill, Olakunle

underscored the need for the enactment of the law in the state as a federating unit to further improve revenue accruable to the state. The lawmakers lamented that the state often got lesser share of what it contributed under VAT to the Federation Account.

Gunmen Abduct Catholic Priest in Kukah’s Village

John Shiklam in Kaduna

Gunmen on Monday night stormed Bishop Matthew Kukah’s Anchuna village in Ikulu Chiefdom, Zangon Kataf Local Government Area of Kaduna State, abducting the Catholic priest in the community. Sources said the bandits came to the community at about 8.00p.m. and whisked away

Rev. Fr. Luka Yakusak, who is in charge of St. Matthew’s Catholic Church, Anchuna. The bandits were said to have shot sporadically before heading to the official residence of the priest. Spokesman of the Kaduna State Police Command, Mr. Mohammad Jalige, could not be reached when contacted as his mobile telephone was switched off.

However, the Spokesman of the Southern Kaduna Peoples Union (SOKAPU), Mr. Luka Binniyat, confirmed the incident, saying the Catholic priest was abducted at his residence on Monday. Binniyat said the persistent attacks and killings in Southern Kaduna communities, especially in Zangon Kataf LGA, and the seeming inability of security agencies to stop the attacks

has made the people helpless. He said: “Yes, I can confirm that a Catholic priest in Achuna, Bishop Kukah’s village was abducted on Monday at about 8 p.m. “This is not the first time gun men are attacking the community. You recall that some years back, the traditional ruler of Ikulu Chiefdom who is Bishop Kukah’s brother was abducted.

Don’t Impose Excise Duty on Flooding: FG Directs Emergency Road Repairs in Five States Fashola, who gave the roads with similar problems, construction and rehabilitation Nigerian Manufacturers, FG Urged Emmanuel Addeh in Abuja directive in Abuja listed the the minister said that the federal and expressed his ministry’s

Dike Onwuamaeze

The federal government has been advised to put on hold any move to impose excise duty on any segment of the Nigerian manufacturing sector. This advice was given by an economist and private sector advocate, Dr. Muda Yusuf, who described such move as ill-timed, insensitive and most inappropriate because of the prevailing harsh economic and difficult business conditions in Nigeria. Yusuf, who is the immediate past director general(DG) of the Lagos Chamber of Commerce and Industry (LCCI), said that the re-introduction of the excise duty would negate the economic recovery and job creation aspirations of the federal government and worsen the

plight of many upcoming small businesses in the beverage sector. He said: “Millions of micro enterprises in the soft drinks’ distribution chain will be adversely impacted by the imposition of the excise tax. This is detrimental to the job creation and poverty reduction commitment of President Muhammadu Buhari. “Nigerian manufacturing companies, and indeed most investors, are going through tremendous stress at the moment. They are currently grappling with serious macro-economic challenges and structural constraints impacting on capacity utilisation, productivity and competitiveness. This is affecting sales, turnover, profitability, shareholder value and the sustainability of investments.

Minister of Works and Housing, Mr. Babatunde Fashola (SAN) yesterday directed that immediate emergency repairs should be carried out on failed sections of some important roads across five states of the country, due to flooding caused by heavy rainfall.

affected roads billed for immediate intervention to include: Ibadan-Ife road, GombeBauchi road, Gombe-Darazo; Bauchi-Ningi, Bida-Lambata and Tsamiya bridge in Jigawa state. While also assuring of continuous attention to other

government was committed to infrastructure development and will respond promptly to complaints from citizens. He, however, appealed to commuters to be patient with the government as the excessive rains being witnessed have negative effect on road

commitment to do all within its means to ease the hardship of commuters. Meanwhile, the government has said the 40MW Dadinkowa power project in Gombe state would soon receive its intervention to ease the power supply problems around the axis.

Kano Assembly Gives Ganduje 48hrs to Remove Revenue Board Chairman Ibrahim Shuaibu in Kano The Kano State House of Assembly yesterday gave Governor Abdullahi Umar Ganduje, 48 hours to sack the Chairman of the State Revenue Board, AbduRazak Salihi, for violating the constitutional provision of the nation and disrespect to the legislative chambers.

The state board of internal revenue chairman was said to have refused to disclose to the House position of the state revenue collection despite a series of requests by the legislature. The Speaker, Hamisu Ibrahim Chidari, decried the nonchalant attitude of the chairman who was summoned but lied to the House. The embattled revenue chairman was also said to

have connived with the state government without the notice of the House to unilaterally reduce ground tenement rates of the Independent Petroleum Manufacturers Association of Nigeria (IPMAN) from N250 to N100, which the House described as a total violation of the nation’s constitution. In their separate remarks on the floor of the House, the

legislative members were furious with what they described as the non-performance of the chairman in revenue collection as well as lack of knowledge of what revenue is. Chidari said the House had agreed to set up an eight-man committee to investigate why Kano fell from second position in revenue collections after Lagos to10th position.

WEDNESDAY SEPTEMBER 15, 2021 ˾ T H I S D AY

NEWS XTRA

Osinbajo: Developed Nations Preventing Gas Investment in Africa Deji Elumoye in Abuja Vice President Yemi Osinbajo has raised the alarm over international conspiracy to stifle development of gas projects in Africa by the developed world. Speaking yesterday during a virtual conference themed: ‘Climate, Conflict, and Demography in Africa, jointly hosted by the International Crisis Group, the Royal African Society, and African Confidential publications, Osinbajo stressed that most of the world’s investment into clean energy should be coming to Africa. He said: “Much of the global investment in clean energy will need to go into Africa. However, instead of prioritizing efforts to redirect global capital to our nations, efforts are currently underway to limit the development of gas projects in Africa, violating the principles of equity and justice, enshrined in global agreements”. Osinbajo explained the necessity of gas in developing nations, “because the role of gas as a bridge fuel, to increase the share of renewable energy in the energy mix, and rapidly transition away from firewood-based cooking fuel to natural gas-based cooking, yields both environmental and health benefits.

He emphasized that despite Africa’s contribution to climate change being negligible, “we continue to be the most adversely impacted by climate change, so much so that public resources that could help modernize the energy mix has to be redirected towards adaptation spending.

“But worse, we are being compelled to make disproportionately huge sacrifices as the wealthier countries continue full speed on defunding gas projects and insisting that gas projects must be defunded as an important component of the drive towards net-zero emissions

by 2030.” Commenting on the amount of investments required in clean electricity - generation and grid storage infrastructure, Osinbajo stated that to get the world on track for net-zero emissions by 2050, it will cost more than US$1.6 trillion per year by 2030.

“This is over four times more than what was invested in these sectors in 2020. In regions like Africa, installed electricity capacity will need to double by 2030 and increase at least five-fold by 2050,” he said. Giving reasons for his argument against defunding gas

projects, the Vice President said, “our first obligation will always be to ensure the wellbeing of our people, through access to development services including electricity, healthcare, education, safe jobs, and a safe environment, including access to clean cooking fuels.

GLAD TO MEET YOU…

Governor of Lagos State,Mr. Babajide Sanwo-Olu (left), and Group Managing Director, VFD Group Plc, Mr. Nonso Okpala, at a private meeting during the viewing of the play ‘AWO, The Man, His Jewel and….’ in Lagos...recently

ASUU Threatens Strike Group Tasks Obaseki on Passage of Anti-Open Grazing Bill over FG’s Failure to Honour Agreements Adibe Emenyonu in Benin-city

Segun Awofadeji in Bauchi and Funmi Ogundare The Academic Staff Union of Universities (ASUU), University of Lagos chapter, yesterday appealed to the federal government to honour the 2017 and 2020 Memorandum of Action (MoA) it signed with them, noting that the continued delay in fulfilling the terms may lead to union embarking on an industrial action. Some of the terms in the MoA included funding and revitalisation of public universities, Earned Academic Allowances ( EAA), states universities, University Transparency Accountability Solution (UTAS), IPPIS, as well as the promotion arrears and renegotiation of 2009 ASUU-federal government agreement. These led the union to embark on a nine months strike to force the government to comprehensively implement the 2009 agreement.

The Zonal Coordinator of the union, Dr. Adelaja Odukoya, who briefed journalists in Lagos yesterady, regretted that the union is being pushed to the wall, saying its past struggles to salvage the country’s public universities have equipped them to know that the government is unconcerned about its plight. According to him, “The continued delay in fulfilling the terms of our MoA is tantamount to toying with the education and future of the youths of this country, as well as the country’s development. As a patriotic union, if this government continues on this retrogressive path of indifference, contemptuous attitude and failure to honour its obligations to our union as contained in our MoA, our union would be left with no other option than to resuscitate our struggle to get the government to live up to its responsibilities.”

200,000 Migrants, Refugees Enter C’River in the Four Years Bassey InyanginCalabar The Cross River State Government has disclosed that in the last four years, 200, 000 refugees have moved into the state, with about 50, 000 of them being displayed from the Republic of Cameroon due to the ongoing civil strife in the country. The Director-General of the state Migration and Control Agency, Mr. Mike Abua, who stated this yesterday in Calabar, the state capital, in response to questions from journalists, charged the federal government and the

International Commission for Migrants, Refugees and Internally Displaced, Persons (ICMRIDP) to conduct a comprehensive survey in the state in order to ascertained the number of migrants, refugees and internally displayed persons (IDPs) living as refugees in the state. Abua spoke on the sideline of a workshop organised by Children of Rural Africa-Nigeria (COR Africa) in Calabar, where he also presented a paper entitled: ‘Agro-business and Education Opportunities for Refugees, Migrants and Internally Displaced’.

A group, New Nigerian Initiative (NNI), yesterday called on the Edo State Governor, Mr. Godwin Obaseki, and the state House of Assembly to quickly enact the anti-grazing law as directed by the 17 southern states governors at the Asaba Declaration in May this year. The 17 southern governors

had at a meeting in Asaba, Delta State, agreed that each state in the region should before September 1, 2021, pass the antigrazing law to checkmate the menace of killer herders and incessant kidnappings in the region. Edo State and few other states like Imo and Ebonyi are yet to do so like other states. However, speaking at a protest

at the premises of the Nigerian Union of Journalists (NUJ), Edo State Council, Chairman of the group, Uwadiae Odigie, said the unspeakable horror being perpetuated by Fulani herdsmen on peaceful and law-abiding people of Edo State is no longer acceptable. He urged the state governor and the state House of Assembly to promptly pass the bill to ban

open grazing in the state. According to Odigie, “This organisation, moved by the unspeakable horror being perpetuated by the herders on the peaceful and law-abiding people of Edo State, initiated a bill on the need to ‘ban open grazing in Edo State’, and the bill has since been sent to the Edo State House of Assembly for consideration and passage.

Secure Our Borders, Continue Passport Reform, Aregbesola Charges Immigration

Michael Olugbode in Abuja

The Minister of Interior, Mr. Rauf Aregbesola, has charged the Acting Comptroller General (CG) of the Nigeria Immigration Service (NIS), Mr. Idris Jere, to effectively secure the Nigerian borders and ensure that no person could slip in to harm Nigeria in any way.

Aregbesola gave the charge when Federal Commissioners and Board Secretary of the Civil Defence, Corrections, Fire, Immigration Service Board (CDCFIB), visited his office yesterday to present the acting CG to him. He noted in his speech titled, “Power is Responsibility,” that the primary responsibility of

the CG is to “lead the NIS to provide security at the Nigerian borders.” He then enjoined the CG that under his superintendence “no person should come in from outside with the intention to harm our country in any way. Aregbesola said: “It is important also that you ease the passage of persons that will

add value to our country. You will maintain the delicate balance of stopping the bad guys and attracting the good guys.” On passport issuance administration, the minister noted that Nigerians who are desirous of getting Nigeria’s passport must get it expeditiously and without losing their dignity in the process of doing so.

WAHO: Nigeria, Other West African Countries Battling Illicit Drug Abuse

Michael Olugbode in Abuja

West Africa Health Organisation (WAHO) has decried the ‘serious’ problem of illicit drug abuse in countries in African.The organisation raised the alarm that in West Africa and elsewhere on the

Africa continent “there is now a codeine epidemic among the youths; the tramadol crowd, even as many engage in a voyage of discovery with various agents like diazepam, chlorpromazine, and other different inhalants.” Speaking yesterday at the

launch of the 2018-2019 West African Epidemiology Network on Drug Use (WENDU) Report of Statistics and Trends on Illicit Drug Supply and Drug Use, the Director-General of WAHO, Prof Stanley Okolo, said cannabis also remains the most available drug in the

region “as it is easy to grow in the climate, and cheaper than cocaine and heroin.” He said the reported prevalence rates of the drug which stands at 5.2 percent for West Africa and 13.5 percent for Central Africa are very high indeed.

Ekiti is Shortchanged in FRSC Recruitment, Fayemi Alleges Victor Ogunje in Ado Ekiti

The Ekiti State Governor, Dr Kayode Fayemi, has made a case for the employment of more of Ekiti indigenes into the Federal Road Safety Corps (FRSC), saying the state was being shortchanged in

recruitment exercises into the federal government’s agency. Fayemi averred that available evidence substantiated the fact that Ekiti has a low number of its indigenes working in the agency, urging the concerned authorities to rectify the

situation. The governor, who was represented by the Deputy Governor of Ekiti State, Mr. Bisi Egbeyemi, made the remarks while receiving in audience the Ekiti Sector Commander of FRSC, Mrs. Elizabeth Akinlade, who was

accompanied by other senior officers of the command. Fayemi said there are many qualified Ekiti indigenes who applied for jobs in FRSC but were not employed urging the concerned authorities to address the imbalance and give Ekiit its due in the agency.

WEDNESDAY SEPTEMBER 15, 2021 ˾ T H I S D AY

NEWS XTRA

Bandits Kill Police Officer in Kaduna, Abduct Zamfara Emir, Others John Shiklam in Kaduna The Kaduna State Police Command last night, confirmed the killing of a police personnel and the abduction of the emir of Bungudu, Zamfara state, Alhaji Hassan Atto as well as unspecified number of people along the Kaduna - Abuja road. A statement issued by the spokesman of the command, Mohammad Jalige at 12 midnight said the police officer, who was among a team despatched to confront the bandits, was killed. He added that two other people sustained varying degree of injuries and were receiving medical treatment. The statement said four vehicles, apparently belonging to the victims were recovered at the scene of the incident. The statement reads: “Today 14th September, 2021 at about 1510hrs, the Kaduna Police Command received a tragic report of an attack and kidnapping incident around Dutse Village along Kaduna-Abuja road where an unspecified number of people were suspected to have been kidnapped while two others

sustained varying degree of injuries and currently receiving medical treatment. “The information has it that the commuters were intercepted by the bandits who shot berserkly resulting

Students of the University of Benin, Edo State, yesterday blocked the ever busy BeninLagos expressway in Ugbowo in protest against the increase in charges for late payment of school fees by the university management. For many hours, vehicular and human movements at Ugbowo and Ekenwan road campuses of the university were paralysed such that commuters had to look for alternative routes to navigate their ways before getting to their destinations. The protesting students, who carried placards bearing inscriptions such as: ‘Federal University Don Turn BOWEN;’

An alleged “fraudulent” withdrawal of N345 million from a bank account operated in trust of inheritors by a Sharia Court in Kano by not yet identified persons is being investigated by both the Kano State Sharia Court Division of the State Judiciary and the Kano State Public Complaints and Anti Corruption Commission. The amount was part of money deposited with by the Sharia Courts Division of Kano State Judiciary acting as custodians of the money in a case of inheritance before one of the Sharia courts. Speaking yesterday on Freedom Radio, a local radio station in Kano that was monitored by THISDAY, the Chief Registrar of the State Sharia Court Division, Sheikh Haruna Khalil, confirmed that

information indicates that the Emir of Bungudu, Zamfara State His Royal Highness (HRH) Alhaji Hassan Atto is among the people abducted to an unknown destination. “Meanwhile reinforcement

team have since been dispatched while coordinated effort is being carried out with a view to rescuing the victims unhurt. “The Kaduna-Abuja road has been safe lately if not for this unfortunate incident.

L-R: Managing Director (MD), Jonnex Nigeria Limited, Mr. Jonathan Uzor; MD, Full Page Inter Communication Limited, Mr. Ingram Osigwe, and Director, Fairpoint Limited, Mr. Joseph Momah at the funeral ceremony of late Honourable Emma Osigwe at Akokwa, Ideato North Local Government Area, Imo State…recently

‘UNIBEN no be BOWEN;’ ‘Urgent 20k No Be Our Budget;’ Oppression Comes In Different Forms;’ ‘We Didn’t Sign For This Injustice;’ among others, played solidarity songs with public address sound system. One of the students said they were protesting an additional N20,000 to their school fee within two weeks, when the portal was opened, adding that same portal had been frequently down thereby denying those who wanted to pay access to do so. According to her, when the portal was opened, they gave till September 3 to pay the fees with the warning that any payment after the date would attract additional N10,000.

N345m Stolen in Kano Sharia Court

Ibrahim Shuaibu in Kano

preliminary investigation of the scene, four vehicles were recovered from the scene while the exact number of persons kidnapped is yet to be ascertained. “Equally, available

BIDDING OSIGWE FAREWELL…

UNIBEN Students Protest Hike in Charges for Late Payment of School Fees Adibe Emenyonu in Benin-city

in the aforesaid circumstance. However, operatives of the command were dispatched to restore normalcy in the area of which an officer paid the supreme price. “During the course of

they were aware of the alleged missing money. Khalil said: “I can confirm to you that a committee was set up to investigate the incident and the matter is also before Kano State Public Complaints and Anti Corruption Commission for discreet investigation.” He stated that the sum of N345 milliom, a subject of a case of inheritance at a Sharia Court, was deposited in a commercial bank in Kano to be monitored strictly by the court, adding that only N9 million was the balance left in the account. A member of Staff of the Shari’a Courts Division confided that some computers in the accounts section of the Division were stolen. Contacted, the Grand Khadi of Kano State Sharia Court of Appeal, Dr. Tijjani Yusuf, confirmed the incident.

FG Ready to Settle Bandits without Cost, Says Police Affairs Minister The Minister of Police Affairs, Muhammad Dingyadi, yesterday said the federal government was willing to listen to repentant bandits and settle them without cost in a bid to find a lasting solution to the security threats in the North-west and Northcentral regions of the country. “With all pleasure, anybody willing to surrender and do it honourably and honestly, the government is ready to listen. The government is ready to see what they can do to settle them

down without much cost,” the minister said in a television interview. He explained that the present administration intended to reintegrate repentant bandits into the larger society, saying the government would closely monitor those who have turned a new leaf to ensure they do not return to their old way of life. He also spoke about the ongoing military operations against bandits in Katsina, Zamfara, Sokoto and other

states where their activities have been alarming, noting that President Muhammadu Buhari’s administration will continue to record successes against bandits as long as the security agencies continue to work in synergy. On whether the window of amnesty was still open for bandits willing to surrender, Dinyadi said: “When you talk of amnesty, it is a relative term and what the Federal Government is trying to say

is that: ‘Let us see those who have surrendered their arms, let us listen to them, let us chronicle them, let us receive them. We cannot just throw these people away because they are all Nigerians. “Of course, they are criminals, they have committed atrocities, they have committed crimes, but according to the international laws, when you surrender from a war zone, you are not killed, you are not maimed, you are allowed to have your say.

NECO, JAMB Urged to Cancel Credit Pass in English, Mathematics as Prerequisites for Admission Hammed Shittu in Ilorin The President, English Scholars Association of Nigeria (ESAN), Professor Shola Babatunde, yesterday called on two examination bodies in Nigeria, the National Examination Council (NECO) and the Joint Admissions and Matriculation Board (JAMB) to stop making credit pass in English and Mathematics as prerequisites for admission into universities or polytechnics in Nigeria. Babatunde, however,

described the two examinations bodies’ modality of admission into the higher institutions as ludicrous that would not promote effective language communication. Speaking at the 37th Annual National Conference of ESAN tagged: ‘KWARESAN 2021’, which was flagged off at the main auditorium of the University of Ilorin, Kwara State, Babatunde also urged the federal government to establish English Language Council in Nigeria, as part of measures to promote and encourage

effective communication in the language. He stated that the council should be empowered to make pronouncements and policies that enjoy government backing for promoting National English. The conference had the theme: ‘English Language and Literary Studies in Nigeria: Realities of the New Normal’. Those expected to form membership of the council, according to him, are patriarchs of English Studies in the country. Babatunde said the agitation

was unfortunate at a time that complaints had arisen on the low communicative performance of students in English language. He also suggested the creation of National English Studies Resource Centre to carry out studies on the National English (NE) corpus; implement relevant NE policies and other related matters. The university don said proposed centre would be an ideal corpus to implement relevant NE policies and other related matters.

2021: Diaspora Group Sets Benchmark for Next Anambra Gov Fred Ojeh Ahead of the November 2021 Anambra State governorship election, Diaspora Igbo group, Anambra State Association World-Wide (ASA-World), has set the benchmark which any political aspirant must meet to be elected as the next governor of the state. Insisting that Anambra State is no for sale to the highest political bidder, the Chairman of the association, Dr. Nwachukwu Anakwenze, in a virtual world

press conference yesterday, noted that the next governor of the state must be elected by the people of the state through free, fair, transparent and accountable outing by the people. He said all actions and attitudes associated with democratic governance and social participation in election must originate from the citizens of Anambra State either from home or abroad. According to him, “We will not tolerate individual from other states or an invisible hand that

may wish to impose a sycophant on Anambra people. “The next governor of Anambra State must have a clarity of purpose; must be an immovable force to reckon with and must understand that as the governor of the gateway to Igboland, his position should add value to the South-south and South-east corridor’s dialogues on the direction of the current situation in Nigeria. “In other words, the next governor must be conscripted to work in concert with the

South-south, South-east governors and the federal government of the day in synergy, as a strategy in developing the South-south and South-east geo-political and socio-economic identity.” Anakwenze added: “From our worldwide secretariats in Toronto and Ontario in Canada, we unequivocally warned that no one but the indigenes of Anambra State can act or speak on behalf of the people, and invariably, no one but Ndi-Anambra can elect the custodian of their heritage and engender their children’s future.”

WEDNESDAY, ͹ͽ˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Champions League: Lukaku Sets Chelsea on Winning Start

Romelu Lukaku enlivened an otherwise flat Chelsea performance with the only goal to beat Zenit St Petersburg 1-0 and get the Blues' Champions League defence off to a winning start. Lukaku never made a Champions League appearance during his first spell at Stamford Bridge, but is quickly making up for lost time since returning to Chelsea for a club record £97 million last month. The Belgian striker now has four goals in as many games and his predatory instincts 21 minutes from time papered over the cracks of a disappointing display from Thomas Tuchel's men. Tuchel urged his players not to rest on their laurels after their surprise run to become European

champions last season. However, the glory of their victory over Manchester City in Porto was hard to shrug off as the German, Edouard Mendy and Jorginho were presented with awards on the pitch before kick-off as Uefa coach, goalkeeper and player of the year respectively. Chelsea certainly have the squad depth to be able to challenge on all fronts this season and Tuchel made five changes from the side that beat Aston Villa 3-0 in the Premier League on Saturday. Captain Cesar Azpilicueta, Andreas Christensen, Reece James, Jorginho and Mason Mount returned to the starting line-up, but there was still little verve to Chelsea's attacking play throughout.

Europa: Napoli Reveal Osimhen’s Fitness Concern ahead of Leicester Clash

Napoli have confirmed striker Victor Osimhen is training on his own as they prepare to face Leicester City tomorrow. The Nigeria international picked up an injury during the team’s 2-1 win against rivals Juventus at Diego Armando Maradona Stadium with Senegalese captain Kalidou Koulibaly popping up with a late strike to sink the Old Lady on Saturday. It was Juventus who had taken the lead courtesy of Alvaro Morata in the 10th minute but Napoli came back a more rejuvenated side in the second half to level matters through Matteo Politano before the Senegalese star scored the winner in the 85th minute. Napoli have now turned their focus to the Europa League opening fixture against Leicester at King Power Stadium and are sweating on the fitness level of the Super Eagle star. “Napoli were back at the Konami Training Centre on Monday morning following their

win over Juventus on Saturday,” read part of the statement on the club’s official website. “Next up for the Azzurri is their Europa League group stage opener away at Leicester City tomorrow. “At the training ground, the squad kicked off the session with a practice game using smaller goals, followed by group tactical work. Those who weren't involved from the start in the defeat of Juventus then got stuck into a mini-match. “Dries Mertens and Faouzi Ghoulam trained with the group for the full session, while Diego Demme and Victor (Osimhen) had individual sessions outside. “Stanislav Lobotka received treatment and did individual work outside, with Lorenzo Insigne training in the gym after he picked up a knock on Saturday.” The Italian side will face a wounded Leicester side who suffered a 1-0 defeat against Manchester City in their last league assignment.

Victor Osimhen...doubtful for tonight’s clash

Chelsea’s Romelu Lukaku was in his elements yesterday, scoring the Blues’ lone goal victory over the Russian side

Iheanacho Unfazed with Bench Role at Leicester City Femi Solaja with agency report

Super Eagles forward, Kelechi Iheanacho, insists he has no complaints about starting this season as a substitute for English Premier League club Leicester City. His role on the bench comes despite scoring 19 goals last season to end Jamie Vardy's five-year streak as the club's top scorer and help them finish as surprise FA Cup winners. Last month, he picked up from where he left off as he dispatched a late penalty as the Foxes stunned champions Manchester City to claim the Community Shield in the season's curtain-raiser. Nonetheless, he is still waiting for his first league start of this season, having played a total of just 67 minutes so far when appearing as a substitute in Leicester's opening four games. "Of course I had a pretty good season at the end of last season, but honestly I am not bothered [about] what's going on," Iheanacho told BBC Sport Africa. "Now we have new players come in and we have a big squad. We need everybody to win trophies and games." There is greater depth in attack this season, with the arrival of Zambia's Patson Daka joining him in pushing club legend Vardy for a place. "It's going to be an important season and we have so many games and different competitions as well," added Iheanacho, 24. "There are other players on the bench in the same circumstances. I know that everyone will be needed and be important to the squad.

"But whenever I get my chance to play or start, I will just do my job and help the team to succeed. We have a lot of games and everyone will be involved." The year 2021 has been good so far for Iheanacho - having been named March's Premier League player of the month while also signing a new deal to keep him at Leicester until 2024. The change in fortune comes two years after he endured a 14-month goal drought, during which time he was jeered by the club's own fans. On the international front, Iheanacho showed his prowess when scoring both goals as Nigeria kicked off their 2022 World Cup Group C qualifying programme with a comfortable

2-0 win over Liberia in Lagos. Now on 11 goals and five assists from 33 appearances for the three-time African champions, Iheanacho is widely regarded as the latest poster boy of European football in his country. He admits that he is slowly beginning to get used to the idea that he is a role model for young kids across the West African nation. "I honestly focus on my football but I am happy if the kids are inspired by what I do," he said. "At the end of the day, if I can inspire other young kids to dream of playing football in the Premier League, then that's amazing. I will be happy to do more and continue to do well and inspire young African kids."

Kelechi Iheanacho...happy making impact from the bench

Nigeria, Mali to Kick off Aisha Buhari Cup Today Nine-time African champions Nigeria and Mali will officially kick off the Aisha Buhari Invitational Women’s Tournament at the newly remodeled Mobolaji Johnson Arena on Lagos Island. Both teams will lock horns on the lush turf of the new, impressive arena, hitherto known as the Onikan Stadium, and which has now been upgraded to a jaw-dropping, compact venue capable of hosting a range of international games. All the teams taking part in the tournament are on ground, with South Africa’s Banyana Banyana last to arrive on Monday eveningafter a six-hour cruise aboard a South African Airways flight from Johannesburg. The nine-day competition will

see the Malians slug it out with hosts Nigeria and Morocco in Group A while Group B is made up of Cameroon, South Africa and Ghana. Head Coach of Mali Women National Team, Saloum Mohamed Houssein believes his side will have a good outing at the Aisha Buhari Cup tournament holding in the City of Lagos, Nigeria. “We are very happy to be among the invited countries for a competition that features the best women’s teams on the continent. “We are barely one month away from the start of the qualifiers for the Women AFCON, so it’s a good test for us. We have the ambition to fight for a good result in Lagos, even as

our group opponents are Nigeria and Morocco. The last time the Female Eagles of Mali played Super Falcons, they got thrashed 8-0 in 2015 (their biggest ever defeat in history) and Atlas Lionesses also beat them 6-2 on aggregate in a double-header friendly. Meanwhile, Governor Babajide Olusola Sanwo-Olu, who has not hidden his keen desire to see to the success of the six –day invitational in the City of Aquatic Splendour, made his way unannounced to the Mobolaji Johnson Arena both on Monday eveningand on Tuesday morning, with firm gubernatorial directives to the contractors to get done quickly with the little touches left on the structure.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Dramatic Last-gasp Young Boys’ Goal ‘Kills’ Ronaldo’s Joy Manchester United conceded a dramatic stoppage-time goal as they lost to Switzerland’s Young Boys despite Cristiano Ronaldo scoring on his Champions League return for the Red Devils. Ronaldo, who became the joint all-time Champions League appearance holder on his 177th outing in the competition, fired United ahead after an exquisite pass from fellow Portuguese Bruno

CHAMPIONS LEAGUE Fernandes. United played for almost an hour with 10 men after Aaron Wan-Bissaka's dangerous challenge on Christopher Martins earned the defender a straight red card. They looked set to hang on for a point in an entertaining match after Cameroon winger Moumi Ngamaleu's equaliser.

But a 95th-minute mistake by substitute Jesse Lingard who had replaced Ronaldo with 18 minutes left - allowed Jordan Siebatcheu to score the winner. The home fans celebrated wildly while Ole Gunnar Solskjaer was left to reflect on a performance which saw United muster just two

shots, the fewest Opta have on record in any of their 138 Champions League matches since 2003-04. Having missed out on qualifying for the knockout stages of the competition last season, United now host Villarreal in their next Group F game on 29 September in a repeat of last season's Europa League final. Elsewhere, goals from Thomas Muller and Robert

Lewandowski settled a battle of the big two in Champions League Group E as Bayern Munich claimed a dominant 3-0 opening-game victory at Barcelona. The German champions controlled the game, with Muller scoring his seventh career goal against Barca courtesy of a first-half effort that found the net off Eric Garcia's back. Lewandowski made sure of the win with a typical predatory finish, poking his 74th Champions League goal into an empty net after Jamal Musiala's drive had cannoned back off the post. Chelsea returnee, Romelu Lukaku was on target again as the Blues defeated Zenit St Petersburg 1-0 at the Stanford Bridge. The story was the same as former Chelsea forward, Alvaro Morata, scored one goal and earned a penalty as Juventus launched their Champions League campaign by beating Malmo 3-0 away. Juve were under pressure early on in Sweden before Alex Sandro's low header gave the Italians the lead. Two goals in the space of 86 seconds at the end of the first half then took the game away from Malmo.

RESULTS Barcelona

0-3 B’Munich

Dynamo Kyiv 0-0 Benfica Young Boys

2-1 Man Utd

Villarreal

2-2 Atalanta

Sevilla

1-1 Salzburg

Lille

0-0 Wolfsburg

Chelsea

1-0 Zenit

Malmoe

0-3 Juventus

TODAY Club Brugge v

PSG

Man City

RB Leipzig

Atletico

Porto

Liverpool

AC Milan

Besiktas

Dortmund

Sporting CP

Ajax

FC Sherrif

Shakhtar

Inter

Real Madrid

EUROPA Spartak M

L’ Warszawa

Injury Knocks out Ibrahimovic from Liverpool, Milan Clash

Aaron Wan-Bissaka (right) got a straight red for his dangerous tackle on Young Boys’ Christopher Martins...last night. Manchester United lost the Group game 2-1 in Switzerland

HiFL 2021: UNN Lions, AAUA Luminaries Jostle for Final

UNN Lions will tackle the AAUA Luminaries from Akungba today in the first leg of the semifinals in the ongoing Higher Institutions Football League (HiFL). The game will be played at the University of Nigeria Sports Complex, Nsukka. The UNN Lions defeated high flying UNIBEN Royals 2-1 on goals aggregate at the quarter final stage. Coach Ike Chijoke of the Lions has promised to maintain the momentum when they meet the Luminaries, stating that his wards “will attempt to do what they love doing best which is scoring goals”. The AAUA Luminaries qualified for this stage by defeating the UNILAG Marines 1-0 on goals aggregate. Expressing delight at the level of competition in HiFL, Managing Director, The La Casera Company Plc, Chinedum Okereke, said, “our coming on board HiFL with the bold

franchise is not unconnected with the array of opportunities Pace Sports and Entertainment Marketing Limited present to the Nigerian youths, especially for the various collegiate football leagues. We see it as a bold statement and the right platform to support the talent nurturing of our younger generation. We believe this will go a long way

to help them in their future sporting careers.” Meanwhile, UNIMAID Desert Warriors from the University of Maiduguri will tackle FUTMinna Transformers in Maiduguri as the team also attempt to qualify for the finals for the first time. UNIMAID Desert Warriors qualified for the semi-finals by defeating 2018 champion UAM

AC Milan will once again be without striker Zlatan Ibrahimovic tonight when his side take on Liverpool as the Swede is struggling with an Achilles injury. Ibrahimovic had only just returned from a knee injury which kept him on the sidelines for four months, coming off the bench to score in a 30-minute cameo in Sunday's 2-0 win over Lazio. Well, unfortunately, he's back on the sidelines again. Antonio Vitiello was the first to reveal

that Ibrahimovic has a problem with his Achilles tendon and he will play no part in the Liverpool game as a result. The 39-year-old's injury is not thought to be too serious and his absence is more of a precaution, with Milan reluctant to risk him after such a lengthy lay-off with his knee injury. Instead, he will remain at home while Milan take on Liverpool, meaning manager Stefano Pioli now has a decision to make over which striker to turn to in Ibrahimovic's absence.

Tillers 3-1 on goals aggregate. The Desert Warriors also ended the as the highest scoring team in the round of 16 as the team keeps pushing hard in the quest for the HiFL Trophy. HiFL is organized by Pace Sports and Entertainment Marketing in collaboration with the Nigerian University Games Association (NUGA).

Egbe Hails Remo Stars on Promotion to NPFL Sports Facilities expert, Ebi Egbe, has congratulated Remo Stars FC on the club’s promotion to the elite division of the nation’s domestic league. Egbe in a statement said the Ikenne-based club deserve their promotion given the high level of investment of the club’s Proprietor, Kunle Soname. Egbe who also doubles as the Chief Executive Officer of Monimichelle Group, stressed that he was happy

the Ikenne ground of Remo Stars which his outfit constructed would be playing host to top flight football from this season. In his words: “I want to congratulate Remo Stars for getting promotion to the NPFL after the Super 8 play off in Enugu. Kunle Soname is investing heavily in the game and his club deserves to be in the elite class. Monimichelle is also proud to be associated with Remo’s success story. My company constructed the

geotech hybrid synthetic pitch at the Ikenne stadium and I m confident the club would play the best of football there.” Remo on Sunday secured a 2-2 draw against Bendel Insurance at the Nnamdi Azikiwe Stadium, Enugu to finish second behind 3SC thus booking a place in the NPFL. Remo had before the grudge battle against Insurance secured a 3-0 victory over Ekiti United and forced 3SC to a 1-1 draw.

Zlatan Ibrahimovic...injury rules him out of Clesea, AC Milan Clash this evening

Wednesday, September 15, 2021

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MISSILE

Akintoye to FG “The herdsmen you see in the South and the Middle Belt today are diﬀerent from the nomadic herdsmen we grew up to know. The current ones are imported members of ISIS, Al-Qaeda, ISWAP and Boko Haram terrorists being masqueraded as bandits. By the grace of God, we shall be demanding from the world leaders to declare Miyyeti Allah as a terrorist group” ---Chairman of Nigerian Indigenous Nationalities Alliance for Self-Determination, Prof. Banji Akintoye, leading a one million man march to the United Nations to demand for a referendum.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Bandits and the Force of Ideas A

mong the many victims of violent crimes in the last few days is a Catholic priest, Rev. Fr. Luka Benson Yakusak. He was abducted on Monday evening by gunmen who invaded his house in the Ikulu Chiefdom of Zangon Kataf Local Government Area of Kaduna State. The kidnap happened two days after the killing of Rev. Silas Y. Ali of the ECWA Church of Zango town in the same local government area. Members of the Christian community in the area are reportedly full of prayers for the freedom of Fr. Yakusak. Killings and kidnaps are reported as statistics virtually every day from various parts of Nigeria in varying degrees. The names of the victims are rarely mentioned unlike in the cases of Fr. Yakusak and Rev. Ali. Scores of other victims have been reported as statistics in the last few days . For instance, 24 hours before the abduction of Fr. Yakusak, the village of Apiye Jim was attacked and 11 persons were kidnapped. This tragedy also reportedly happened in the same Zangon-Kataf Local Government. The bloodletting continues despite the efforts of the Kaduna State government to tackle insecurity in addition to the intense military activities in parts of the state. Perhaps, Kaduna is the only state having a commissioner with a security portfolio. Yesterday marked the 90th day in captivity for no fewer than 90 students of the Federal Government College (FGC), Birni Yauri in Kebbi State. About 150 bandits invaded the college in the afternoon of June 17 this year. Female and male students and three members of staff were abducted. The suffering of the students in captivity and the anguish of their helpless parents can only be imagined. According to the United Nations Children Fund (UNICEF), out of the more 1, 000 students abducted since December 2020 over 200 of them are still in captivity. The students are languishing in bandit’s den just like the army officer recently abducted from the Nigerian Defence Academy (NDA). This is a serious test of the competence of the Nigerian state. The humanitarian consequences of the festering insecurity in the land can hardly be covered by mere statistics of the victims. Even at that, some opinion leaders in the northwest have alleged that violent crimes are underreported especially in the rural areas. This lack of adequate attention to the grand assault inflicted on our collective humanity by the criminals rampaging the land is also reflected in the totality of the official response to the agony of the victims. It has been the tragic lot of poor parents of kidnapped students to raise millions of naira to be paid as ransom to kidnappers. The names, (much less the faces), of most of those killed are not known. Will there ever be a proper documentation of the humanitarian tragedy unfolding in the land? In the discussion of the problem, the use of categories is even imprecise. For instance, some security experts and analysts say the prevalent criminality plaguing the northwest is banditry. Others have insisted that what is troubling the zone is actually terrorism. The argument goes like this: the criminals who could bring down military aircraft and invade the defence academy share the same characteristics as terrorists. In another categorisation made by some other experts, the activities of Boko Haram in the northeast are termed terrorism while the killings and kidnaps in the northwest are said to be banditry. As a matter of fact, the Nigerian state was reluctant in the early days of Boko Haram war to categorise the non-state actors perpetrating violence in the northeast as terrorists. This was believed to be due to the diplomatic implications of such a label. Nigeria

Buhari did not want to be grouped by western powers among the nations in which terrorists operated. The Boko Haram terrorists were described as insurgents. Now, this problem of definition is not peculiar to Nigeria. The official American definition of terrorism is not identical to the British formulation on the problem. There are political and legal dimensions to the definition. For example, a British scholar, Charles Townshend, reported that over a hundred definitions of terrorism were compiled in a survey that eventually concluded “that the search for ‘adequate’ definition was still on” in the view of some experts. Some of the several definitions are derived from the characteristics of terror. According to Townshend in his book, Terrorism: An Introduction, a common characteristic of terror is the act “intended to threaten the ability of a state to ensure the security of its members -and thus its claim to legitimacy…” Well, some may argue that the Nigerian state that is seemingly overwhelmed in many fronts cannot afford the luxury of making a scholastic distinction between terrorism and banditry. For instance, terrorists and bandits alike employ kidnap as a method, extracting ransom from traumatized people. Yet beyond the daily torrents of grim statistics and endless chats in the public sphere, the problem of insecurity requires deeper reflections and scientific studies. For clarity, a lot of researches have been conducted by universities, think tanks and other non-governmental organisations and individuals on the question of insecurity in Nigeria. As a matter of fact, volumes could be published from the reports of studies and researches already conducted on the problem. International organisations have also published some reports. What is not clear, however, is if the authorities are sufficiently harvesting the ideas generated by the academic studies of the climate of insecurity spreading in the country. Are the defence and security authorities paying enough attention to the production of ideas by our social scientists, historians, philosophers and other scholars and experts? The point at issue here is not that those who shape defence and security policies should buy uncritically

the views of the experts. What is important is the official awareness of the highly informed discussions and debates about the problem. The government should stop looking in the exogenous direction for solutions to all problems. It is time the government listened to Nigerian scholars. One of such scholars is Dr. Murtala Ahmed Rufa’i, a historian of the Usmanu Danfodiyo University , Sokoto. He traced the historical roots of banditry in a paper presented last Thursday at the university’s 15th Seminar Series. The presentation of Rufa’i is curiously entitled “ ‘I am a Bandit:’ A Decade of Research in Zamfara State Bandit’s Den.” He reported that over 10, 000 bandits operating in Zamfara State alone have killed over 12, 000 people, destroyed 120 villages and stolen 250, 000 livestock while about 50, 000 persons have been internally displaced. What’s particularly remarkable about the paper of Rufa’i, which is richly illustrated with facts on ground, is the somewhat optimistic note of the summation of his decade-long research. He is rather upbeat about the activities of the military in the state to deal with the bandits in the rural area “in the language they understand,” apparently borrowing from President Muhammadu Buhari. Rufa’i seems to agree to the highly perceptive position of a senior journalist, Mahmud Jega, in another forum. Jega posits legitimately that it is possible to exterminate banditry by military might. Jega cited the examples of conflicts in history that ended with the defeat of a weaker side by the stronger military power. Despite his optimism, Rufa’i makes a point that should attract the utmost attention of those in charge of defence and security policies: “Unfortunately, the more the efforts (of the military and security agencies), the stronger and deadlier they (the bandits) become, due to the involvement of multiple ‘invisible factors and actors’ benefiting from the conflict.” Incidentally, only yesterday the United Arab Emirates named six Nigerians among the “global sponsors of terrorism.” It would be interesting to see how the office of the federal attorney- general and the security agencies respond to this revelation by another country. The lack of diligent prosecution of the arrested bandits and terrorists has unwittingly nourished the landscape of impunity in which terrorists, bandits and other violent criminals luxuriate. Significantly, Rufa’i traced how arms flow to the den of the bandits. He located the Nigeria – Niger border, for instance, as a source. Foreign mining companies are also sources of arms. The historian

“In addition to equipping and motivating the defence and security forces, there should be a place for the force of ideas in formulating the strategy against terrorism and banditry”

also reported the culture of arms renting for a fee. He quoted a bandit saying that “there are more weapons than cattle in Zamfara state.” As a result, having a gun is more profitable than owning a herd of cattle. According to Rufa’i, the factors driving banditry in Zamfara could also be distinctly located. First, the elephant in the room that seems not to have been given adequate attention by the Nigerian state is illicit mining. As stated above, Rufa’i traced the arms flow in Zamfara to the foreign mining companies. Politicians , traditional rulers and other members of the socio-economic elite are seriously implicated in the warfare that illegal mining of gold has become in Zamfara. The ban imposed in 2018 on illegal mining by the federal government came too late. A lot of damage had been done to the socio-economic make-up of Zamfara State before the responses. Secondly, there is the well-known theory that some of those who turned to banditry were once employed as political thugs. The thugs were later abandoned by the politicians. The reality of material vulnerability is believed to have driven some of the abandoned thugs into banditry. Another second factor is that of the historical injustice visited on the pastoral community. Interestingly, according to Rufa’i the herders/farmers clashes in Zamfara are rooted in history. The pastoralists are said to have the view that cases are often decided against them and in favour of farmers. The pastoral community is said to have inherited this legacy of injustice. There is also the factor of the vigilante groups which rose in defence of the besieged communities. Members of these groups allegedly executed arrested bandits in the market place. Rufa’i said this worsened the atmosphere of insecurity especially with the steady rise of the armed groups. Rufa’i also profiled some of the bandits situating them squarely in the social context of their emergence in Zamfara State. He told the story of the emergence of the armed groups beginning from 2011. Appropriately, the gender dimension of the crisis is also well documented especially the question of sexual violence. There are, of course, a lot to interrogate in the Rufa’i interpretation of the Zamfara situation. For instance, the peculiarities that have made banditry seemingly endemic to Zamfara are not adequately explained. But what cannot be denied is that Rufa’i like other scholars are devoting time and energy to think and study the problems. That trend should be encouraged. This is because ideas about the socio-economic and political situation constitute a force that should complement the military campaigns. Such ideas are sorely needed to illuminate the process of defence and security policy formulation. Superior ideas are also needed to equip those who are saddled with the enterprise of the “deradicalisation” of arrested terrorists and bandits. The debate on the fate of “repentant terrorists and bandits” should be informed by solid ideas. It could be ultimately dangerous granting “amnesty” blindly to mass murderers and kidnappers. So in addition to equipping and motivating the defence and security forces, there should be a place for the force of ideas in formulating the strategy against terrorism, banditry and other activities of non-state actors. To borrow from Professor Biodun Jeyifo in this respect, the attention of the “Buhari’s handlers” should be specially drawn to this proposition given the primacy of security to all the issues bedevilling the Nigerian nation. The President and his handlers should pay attention to the important force of ideas in the war to keep Nigeria secure.

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