FRIDAY 22TH SEPTEMBER 2023

Page 1

Naira Falls Further to N995/$ on Parallel Mkt, Edun Blames $6.8bn Backlog for Currency's Woes

records 239.54%

transaction volume Uncertainty beclouds market as CBN postpones MPC meeting indefinitely

The naira declined further on the parallel market arm of the foreign exchange (FX) market to N995 to a dollar, weaker than

the N990 to a dollar it closed the previous day. On the other hand, on the Investors and Exporters (I&E)

FX window, the naira gained N33 naira to closed at N738 to a dollar yesterday, compared to N771 to a dollar the previous day,

even as some market analysts attributed the development to a likely intervention by the Central Bank of Nigeria (CBN).

Continued on page 5

End of an Era: Rupert Murdoch Steps Down as Fox, News Corporation Chair... Page

However, reacting to the pressure facing the nation’s www.thisdaylive.com

FCT... Page 8

Tinubu to Guterres: I’m Ready to Take Tough Decisions Even if They Make Me Unpopular

Declares Africa’ll no longer accept rights advocacy violating our lands, economies Stresses need for UN to transit from talk shop to action coordinating centre Says he survived gripping poverty UN Scribe: Nigeria indispensable in W’Africa

Deji Elumoye in Abuja

President Bola Tinubu, yesterday, told United Nations SecretaryGeneral, António Guterres, that he was prepared to take tough

decisions, even if they could make him temporarily unpopular, as long as the outcomes addressed

challenges, such as poverty, hunger, among others, that had stunted economic growth in Nigeria.

Tinubu made the assertion at the UN headquarters in New York, when he spoke with Guterres, Continued on page 5

according to a statement by the

Following Tinubu’s Appeal, Judge Adjourns CSU Records Case to Monday

Temporarily stays execution of earlier order after president's plea it will cause 'severe and irreparable harm' to him Tinubu departs New York, enroute Paris to Abuja

Alex Enumah in Abuja

Relief came the way of President Bola Tinubu, yesterday, following the ruling of Nancy Maldonado, a Senior Judge of the United States District Court for the Northern District of Illinois, halting the release of his university records to candidate of the Peoples Democratic Party (PDP) in the February 25 presidential election, Atiku Abubakar.

The order staying the execution of Magistrate's Jeffrey Gilbert on the Chicago State University, was sequel to Tinubu's plea that releasing the said documents to Atiku would cause him "severe and irreparable harm."

Gilbert had in a ruling on Tuesday night ordered the Chicago State University (CSU) to within 48

I&E
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Friday 22 September, 2023 Vol 28. No 10390. Price: N250 TRUTH & REASON
on page 5
5 Continued
James Emejo, Emmanuel Addeh in Abuja, Nume Ekeghe in Lagos
REMI TINUBU RINGS BELL FOR PEACE IN THE WORLD... Nigerian First Lady, Senator Remi Tinubu after she
the World Peace Bell at the 2023 United Nations World Peace Day in New York... yesterday CHIEMELIE EZEOBI Obi, Niki Tobi, Imoke, Kanu Agabi, Samad Rabiu, Affected as Wike Revokes 165 Plots of Land in
rang
FRIDAY SEPTEMBER 22, 2023 • THISDAY 2
FRIDAY SEPTEMBER 22, 2023 • THISDAY 3
FRIDAY SEPTEMBER 22, 2023 • THISDAY 4

End of an Era: Rupert Murdoch Steps Down as Fox, News Corporation Chair

Eldest son, Lachlan takes over

Emmanuel Addeh in Abuja

A powerful right-wing media mogul who built and oversaw one of the world’s most influential news empires, Rupert Murdoch, yesterday announced that he will step down as chairman of his companies, Fox Corporation and News Corporation.

“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Murdoch, 92, wrote in a memo to employees. “But the time is right for me to take on different roles, knowing that we have truly talented teams,” he added.

As the leader of Fox and News Corporation, which publishes influential broadsheets such as The Wall Street Journal and tabloid New York Post, Murdoch has for decades commanded considerable influence in the Republican Party, matched by only a select few, CNN reported. His retirement comes at a key moment in the media industry as entrenched entertainment giants confront a sweeping transformation of the traditional television and film business and consumers rapidly gravitate toward streaming services.

Murdoch’s decision to step down as chairman of his companies will also send shockwaves through the political world, just as the 2024 presidential race heats up.

Fox News remains ensnared in litigation stemming from the network’s peddling of former President Donald Trump’s election lies in the wake of

president’s media adviser, Ajuri Ngelale.

The president declared that African nations would no longer accept a situation in which human rights advocacy was used by developed countries to stop developing economies from dealing decisively with actors, who illicitly

the 2020 election.

Stepping into his shoes, Murdoch’s eldest son, Lachlan, who already serves as chief executive of Fox Corporation, will become sole chairman of both companies.

Murdoch described Lachlan as “a passionate, principled leader.”

It’s unclear if Fox’s direction will change under Lachlan, but Rupert signalled that Lachlan will maintain the right-wing editorial bent his media companies are known for, CNN added.

“My father firmly believed in freedom, and Lachlan is absolutely committed to the cause,” Murdoch told employees in his memo. “Self- serving bureaucracies are seeking to silence those who would question their provenance and purpose.

“Elites have open contempt for those who are not members of their rarefied class. Most of the media is in cahoots with those elites, peddling political narratives rather than pursuing the truth,” he said.

Rupert Murdoch, who assured staffers he is in “robust health,” said that in his new role as chairman emeritus he would still be “involved every day in the contest of ideas.”

However, Lachlan Murdoch has privately criticised Trump, saying that he disagrees with much of the way the former president behaves, people familiar with the matter told CNN last year. In some comments, Murdoch had gone as far as to tell people that he believes if Trump were to run again, it would be bad for the country.

siphoned and smuggled out the continent's vast mineral resources. He said such individuals smuggled in western-made weapons, and enriched the wealthiest economies in the world at the expense of Africa’s stability and wealth creation.

He frowned on a situation where

NAIRA FALLS FURTHER TO N995/$ ON PARALLEL MKT, EDUN BLAMES $6.8BN BACKLOG FOR CURRENCY'S WOES

currency, Nigeria’s Finance Minister and Coordinating Minister of the Economy, Olawale Edun, yesterday said up to $6.8 billion of overdue forward payments in the foreign exchange market needed to be addressed before the naira stabilises.

This was just as the Monetary Policy Committee (MPC) of the CBN, yesterday, announced the postponement of the 293rd meeting of the Monetary Policy Committee (MPC) of the CBN till further notice, which analysts argued may further elevate uncertainty in the market.

According to a source, the intervention by the market regulator on the I &E FX Window, was responsible for the significant rise in the daily volume turnover which climbed to $218.68 million yesterday, compared to a volume of $64.36 million recorded the previous day, representing a surge by 239.54 per cent.

Also, the highest spot rate of the day was pegged at N799.9/$1 while its lowest spot was exchanged at N701/$1.

With the parallel market at N995/$1 and the official I&E window closing at N738, the gap between the official and parallel market has widened to N257 Edun, yesterday disclosed that up to $6.8 billion of overdue forward payments in the FX market needed to be addressed before the naira stabilises.

The currency of Africa’s largest economy extended a months-long slide and hurtled toward the

1000-per-dollar mark in street trading yesterday, as the central bank held back from supplying dollars to a panic-stricken market.

Edun, who was named to his role last month, told Bloomberg in New York, that resolving the overdue contracts would allow the naira to strengthen and “pave the way for additional foreign exchange flows.

“The issue we have now is that the market is not liquid enough,” Edun said in the interview.

He added: “We are committed to encouraging liquidity based on reforms that have been made at the moment, on the fiscal side and the monetary side. And together with the restoration of trust and confidence we think the FX flows will return.”

The central bank has mostly been on the sidelines this month, according to market players, with one person saying it has barely supplied dollars to the official window.

That has helped accelerate the naira’s slide. Shrinking dollar supply from the central bank is forcing buyers onto the streets for hard currency.

Inflation in Africa’s biggest economy is also at the highest in more than 18 years, prompting economists to predict that the central bank would raise interest rates again at its next meeting, which for now has been deferred to an unknown future date.

“The commitment is to

In 1969, Murdoch landed his first major overseas prize with the purchase of the UK’s News of the World. He went on to acquire The Sun and The Times and The Sunday Times of London, building a newspaper empire that gave him unrivalled reach and political influence in Britain.

In 1973, Murdoch first entered the United States media sphere with the

70 per cent of the resources devoted to the world's poorest countries were spent and sent back out on overheads and administrative costs, which defeated their purpose.

Tinubu stated, "The poverty ravaging our continent and the question of security and counterterrorism requires us to work in close and effective synergy. The world will ignore Nigeria at its own peril. If we engage in talk shops as real challenges wreak real havoc in real time, we will fail.

“The time to strike is now. The time to achieve real results is now. I fought for democracy. I was detained for democracy. I am now president and I am determined to prove that democracy can provide the development that our nation and our continent so urgently demands.

"Trace those of us here to our foundations and you will find that

purchase of the San Antonio Express and the San Antonio News. A year later, he moved to New York and soon after began the National Star, a tabloid competing against the National Enquirer.

Perhaps one of his most prolific purchases was the New York Post in 1976, a punchy New York City tabloid that still dominates the media and political sphere today. He’s owned

we have ties and links with poverty. We must not be ashamed of that history, but poverty is unacceptable.

I am one of the lucky survivors of gripping poverty. Nigeria is truly a giant. Two hundred and forty million people and counting with a massive youth population.

“We are done saying too much. We seek much action. We have arisen out of poverty as individuals, but until our people have arisen out of that, we will not rest, even if it requires decisions at home that make me temporarily unpopular."

The president also said, "We are facing the great challenge of scavengers ravaging our lands and oppressing our people on illegal mines – taking our gold and mineral wealth back to developed economies by stealth and violence against Nigerians.

"Where one's human right ends, the rights of another begin. Most

it since then, except for a brief time when rules prohibited ownership of newspapers and TV stations in the same city. He bought it back in 1993 after selling it in 1988.

Murdoch became a major Hollywood executive in 1985 when he purchased Twentieth Century Fox from oilman Marvin Davis for $600 million. In 1986, Murdoch got into the television business after he purchased several US television stations and created Fox Broadcasting.

He launched UK satellite pay-TV broadcaster Sky in 1989, before merging it with a major rival just a year later after a bruising price war.

But his UK empire foundered two decades later as a consequence of a hacking scandal at the News of the World, the report added.

Murdoch shut the Sunday tabloid –one of Britain’s oldest and best-selling newspapers — in July 2011 amid public outrage over allegations that the outlet had illegally eavesdropped on murder and terror victims, politicians and celebrities. The scandal forced him to abandon a bid to take control of Sky.

He made another bid for the pay-TV broadcaster in 2016, but it became ensnared by UK media regulators who worried that the deal would give the Murdoch family too much influence in Britain and concerns over its commitment to uphold UK broadcasting standards. Comcast swooped in at the last minute and outbid Fox for Sky.

Although he focused largely on print and TV, he did unsuccessfully

especially for self-protection. If we fight, they say 'human rights,' but we will now be aggressive and we will question motives. We will stop what is happening in our land. We require your effective collaboration."

The Nigerian leader noted that the UN must transform from being one of the world's foremost talk shops on global issues into becoming the world's foremost action coordination centre.

Responding, Guterres emphasised that the UN system was in the process of real reform that would largely address some of the institutional frailties and lack of decision-making power for the developing world, on whose behalf more than 75 per cent of UN resources were accrued.

The UN secretary-general said, "We now recognise the need to reform the institution to represent

try to dominate the internet too. He bought MySpace, one of the first social networks, in 2005 for $580 million.

In 2011, he sold it for a substantial loss at $35 million. He later reflected that its failure was because of a “series of expensive lost opportunities” with an addition of a “layer of bureaucracy” that halted progress against rivals like Facebook and YouTube.

Murdoch sold much of his media empire, including the Twentieth Century Fox film studio, to Disney in a massive $71 billion deal in 2019. He was left with a much leaner broadcast portfolio, consisting of Fox News and Fox Sports.

After that sale, however, he maintained his News Corp. newspaper business, including the Wall Street Journal, which was part of his company’s Dow Jones purchase in 2007 for $5.6 billion. Under his purview, the broadsheet expanded its focus beyond money and markets, built a successful paywall and kept its down-the-middle tone except for its conservative Opinion page. Fox News launched in 1996 as a conservative startup competitor to CNN. It eventually became the top cable news channel in America by playing into conservative narratives. The channel, however, veered from its roots in conservative news as former President Donald Trump ascended to power in the Republican Party in 2015, becoming an unabashed home of right-wing propaganda aimed at propping up the scandal-ridden White House.

the world as it is today. The questions of debt and SDRs. The fact that middle-income countries have only marginal access to concessional funding. In the SDGs summit, we believe we have a growing political consensus and now, a declaration, in this regard. We are pursuing this with great determination."

Guterres assured Tinubu of the fullest support of the UN system for ECOWAS in the light of the series of military coups the West African sub-region had witnessed in the past few months and years. He said, "Mr. President, we have high expectations for your presidency after the many bold steps you have taken. Nigeria is an indispensable voice in the sub-region. We will give you every support needed for your success to be achieved. Your success is Africa's success and we wish you well."

FOLLOWING TINUBU'S APPEAL, JUDGE ADJOURNS CSU RECORDS CASE TO MONDAY

hours release the academic records of Tinubu to Atiku, to enable him prove his claim that Tinubu ought not to have contested the February 25 presidential election on account of alleged perjury and forgery of his CSU certificate.

The judge, in issuing the order, held that the applicant, a former vice-president of Nigeria had shown sufficient reasons why Tinubu's academic records should be released to him.

The court also ordered the school’s administrators to authenticate any documents submitted under oath.

The order for discovery was to come into effect 3pm yesterday (Chicago time), before it was stayed by the district court.

Tinubu, had in a fresh emergency application specifically asked the District court to delay the enforcement of the order of Judge Gilbert till Monday, September 25, 2023.

He claimed Atiku would not be prejudiced against if the court delayed the release of the said documents as he still has up till September 27 to submit materials in support of his appeal at the Supreme Court.

In a short ruling, last night,

via a telephone conference, judge Maldonado, who agreed that the matter might be too severe for Tinubu to bear, subsequently granted the application, adding that, "this needs to be handled with care."

Accordingly, Maldonado directed Tinubu’s lawyers to file a full brief on the matter before or by Monday September 25, stating that the court may ultimately adopt the magistrate’s recommendation and allow the discovery to go forward, or ask all parties to file fresh briefs in the matter.

Meanwhile, Atiku's lawyers said they would file their reply to the brief by 11:00 p.m. on the same day.

Atiku had on August 2 brought an application for an order of mandamus compelling the CSU to release information regarding Tinubu's record argued that Section 137 (1)(j) of the Nigerian Constitution (amended in 2010), specifically stating that no one would be legitimately elected president of Nigeria if the person “has presented a forged certificate to the Independent National Electoral Commission.”

Also, Tinubu had on June 17, 2022, submitted a certificate to INEC that

was purportedly issued in 1979 and signed by Elnora Daniel. But Ms Daniel only arrived at CSU in 1998 from Hampton University, 19 years after Mr Tinubu was said to have graduated.

She left the school in 2008 following a financial mismanagement scandal, or 14 years before June 2022 when CSU issued yet a fresh certificate in Tinubu’s name under subpoena from a Nigerian lawyer, who had inquired about Tinubu’s education there.

The irregularities prompted Atiku to file the suit to compel CSU to produce records relating to Tinubu and make its top officials available for deposition to certify the produced records, according to the Nigerian opposition leader’s lawyers.

During a hearing on the matter on September 12, the CSU’s lawyer Michael Hayes, said the school could not authenticate Tinubu’s certificate if asked under oath, although he said Tinubu attended the school and graduated in 1979.

Tinubu’s lawyers, led by Christopher Carmichael, argued that the court should not grant Atiku's application, because it was a

frivolous expedition aimed at soiling the Nigerian president’s image.

Carmichael also argued that Nigerian Supreme Court would not accept fresh evidence that was not produced during the tribunal proceeding.

But Atiku's team, led by Angela Liu, argued that the Supreme Court would accommodate the fresh facts under unique circumstances, especially as they were not available to the Court of Appeal, which was the court of first instance in a presidential election dispute.

In his ruling, therefore, Gilbert held that courts across the U.S have traditionally taken a broad and liberal view in granting applications under Section 1782, a statute that allows the release of documents and evidence domiciled in the U.S. to be obtained and used in a foreign proceeding.

Meanwhile, the President Tinubu yesterday departed New York enroute Paris to Lagos after successfully participating in his first United Nations General Assembly meeting in New York. He held a series of engagements with world leaders, business leaders and Nigerians in diaspora.

5 FRIDAY, SEPTEMBER 22, 2023 • THISDAY PAGE FIVE
TINUBU TO GUTERRES: I’M READY TO TAKE TOUGH DECISIONS EVEN IF THEY MAKE ME UNPOPULAR
Continued on page 35
Murdoch

SENSITISATION WORKSHOP ON THE REVISED GUIDELINES ON NEGOTIATION AND DRAFTING OF CONTRACTS...

L-R: Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji

Attorney General/Minister of Justice,

sensitisation workshop on the Revised Guidelines on Negotiation and Drafting of Contracts and Agreements by Government Parties to Prevent Corruption and Illicit Financial Flows and Ensure Sustainable Development held at the ICPC Headquarters in Abuja... yesterday

At Nigeria-US Executive Business Roundtable, Tinubu Woos Investors

President says FG working to ease free flow of capital

Emerges first African leader to ring closing bell at NASDAQ Tinubu to Diaspora Nigerians: Bring your resources to Nigeria for investment Insists he crossed many hurdles before winning the presidential poll

Deji Elumoye in Abuja and Kayode

Tokede in Lagos

President Bola Tinubu on the sidelines of the ongoing 78th session of the United Nations General Assembly (UNGA) in New York, United States, wooed American business men to feel free and safe to invest in the Nigerian economy.

Speaking at the Nigeria-U.S. Executive Business Roundtable, the President, in a statement issued yesterday, by his Media Adviser, Ajuri Ngelale, assured prospective investors that while he recognised that investment capital was cowardly in nature, he intentionally brought successful Nigerian industrialists and public officials to share their experiences and operational plans respectively with their American counterparts.

This was just as Tinubu yesterday, charged Diaspora Nigerians in the United States of America (USA) to bring their resources back to the country for investment, insisting

Nigeria remains home for business opportunities.

Speaking at the Nigeria-U.S. Executive Business Roundtable, the president listed measures he had already taken to boost confidence of the global investment community in Nigeria, which included forming the fiscal, monetary, regulatory and tax policy environment.

According to him: "Nigeria is an opportunity that is impossible to replicate or find elsewhere in any part of the world. We have brilliant young people who both innovate and consume at a large scale.

“Our entrepreneurial spirit is a major part of what makes our market totally unique, aside from demography.

"Nigerians build businesses and Nigerian businesses partner with other businesses to conduct larger business. There is enough value to spread around. Be careful of what you hear about Nigeria. You may be dissuaded out of a major opportunity that others will take up. We are here for you. We will give you all

the support you need to succeed and succeed abundantly."

Earlier, the world's second largest stock exchange, the National Association of Securities Dealers Automatic Quotation System (NASDAQ), also in New York, the world's financial capital, invited Tinubu to ring the closing bell, making him the first African President to ever receive the honour.

The invitation was in honour of Tinubu's determined global push to aggressively attract foreign direct investment into Nigeria.

The event was organised by United States Chamber of Commerce, the Nigerian Exchange Group Plc (NGX Group) and Nigerian Investment Promotion Council (NIPC).

The president, surrounded by Nigerian business leaders and officials of the Nigerian Exchange Group, used the opportunity presented by the historic moment to boldly advance his foreign investment push as he stood in front of the famous stock exchange.

He said: "It’s a great honour for me to be here. I am happy to bring Nigeria to your doorsteps and I am honoured that we are here today with a bubbling Nigerian stock market that will evolve in the West African sub-region.

“The greatest economy in Africa is Nigeria, there is an immense opportunity in Nigeria where you can invest your money without fear."

Tinubu, noted that his government continues to address longstanding problems and impediments, such as his bold step to restore and unify the foreign exchange rate market to a stable and trustworthy level, allowing new investors to seamlessly bring their money into the country, free of worries about whether or not they can take their money out at any point in time.

“You’re free to take in your money and bring out your money. I count on you to invest in Nigeria,” the President added.

The president called on global investors to bring their capital into the country, saying his government

was working on easing the free flow of capital.

While addressing investors, Tinubu noted that his administration was actively working on reducing bottlenecks to ease the free flow of capital for investors.

According to him, “It is not about if Nigeria is open for business, it is about who wants to do business with Nigeria.

“Our administration has moved the exchange rate regime to a managed float and removed fuel subsidy. I call on you to come and invest in Nigeria.”

At the same event, the Chairman of the NGX Group, Alhaji Umaru Kwairanga, urged the president to lead the capital market reforms that would drive the actualisation of his mandate of double-digit economic growth for Nigeria.

“Under President Tinubu's leadership, the country has made significant strides,’ the Chairman said.

to enable dollar-denominated transactions to unlock further capital into the country.

The closing bell ceremony was part of events lined up in the NGX Roadshow, supported by Stanbic IBTC, CardinalStone Partners and Chapel Hill Denham.

Speaking at the event, the Acting Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, assured the American captains of industry that under Tinubu’s leadership, the nation's apex tax authority would be focusing its efforts not on taxing the seed, but only on the proportionate taxation of the fruit of fully formed industry, through efficient policy synergy with Nigeria's sub-national authorities.

His words: "The president is a business enabler, not a handicapper. Everything we do will be geared toward making your tax assessment and payment processes as digitally efficient and transparent as possible. We are not after the seed, but the fruit and we will keep to this commitment."

CBN,

Partners Host Second International Financial Inclusion Conference in October

The second edition of the International Financial Inclusion Conference (#IFIC2023) Nigeria’s flagship Financial Inclusion event is scheduled to hold on October 5th and 6th, 2023, at the Landmark Event Center, Lagos.

The theme of the conference is:

“Financial Inclusion for All: Global Insights for Local Impact.”

Hosted by the Central Bank of Nigeria (CBN) and partner agencies within the National Financial Inclusion Governance Committees, IFIC 2023, according to a statement, is an engagement platform for global thought leaders, regulators, and other stakeholders to discuss

and collaborate on contemporary strategies for accelerating financial inclusion in the African continent and globally. “Keynote speakers include Dr. Chea Serey, Governor of the National Bank of Cambodia; Dr. Alfred Hannig, Executive Director, Alliance for Financial Inclusion; and Dr. Reza Baqir, former Governor of the State Bank of Pakistan.

“Key topics to be explored include fintech-driven last mile solutions, leveraging big data and artificial intelligence, inclusive product innovation (non-interest finance), leveraging payment systems to scale financial inclusion in excluded segments - women,

rural, youth and MSMEs, Consumer protection, fraud and data privacy, etc.

“Other highlights include, Innovation Labs, Financial Inclusion Awards and other side events, with opportunities to showcase Nigeria as an investment destination to support economic development within Nigeria and the sub-region,” the statement added.

The maiden edition of the IFIC which held at the Transcorp Hilton Abuja, in 2022, was well attended by senior government officials from within and outside the country.

Former President Mohammadu Buhari, Queen Maxima of the

Netherlands, selected Ministers of the Federal Republic of Nigeria and other influential persons in the global financial inclusion ecosystem were in attendance.

Over 5,000 participants were drawn from 78 countries and feedback on the event was overwhelmingly positive, with the 2023 edition much anticipated.

“Overall, IFIC 2023 promises to be an insightful and engaging platform for networking with a vibrant and globally diverse Whova community and an eclectic mix of offerings to enrich participants’ inperson and/or virtual experience,” it added.

“The removal of fuel subsidies and liberalisation of the foreign exchange market have boosted confidence in our capital market, with the Nigerian Exchange Limited's All-Share Index surging by 29.04per cent since inauguration.

He noted that while this represents success, significant opportunities lie ahead and the capital market is in more need of reforms that can further unlock increased prosperity for the Nigerian economy. Citing the reforms, the chairman highlighted legislative adjustments that would make listing more attractive and urged the president to champion the reforms.

Kwairanga also called for the deepening of pension reforms and amendments to regulations governing free zone companies to facilitate their access to the capital market through listings.

He added that Tinubu should work towards enacting policies

Responding on behalf of the US Government, U.S. Deputy Treasury Secretary, Wally Adeyemo, told U.S. business leaders that he arrived in New York from Lagos, few hours ago, where he was on an official visit that later became a fact-finding mission.

According to him: "In Lagos, I saw first-hand some of the major reforms you implemented as the Governor of Lagos and the transformative effect it has had on Nigeria's commercial capital.

“People have attested to the fact that the reforms you have put in place as President are quickly enhancing confidence. American businesses are paying attention to that and from what we have seen for ourselves, Nigeria is proving to be a new frontier for investment. We will encourage our companies from our end as those reforms continue to deepen".

6 THISDAY • FRIDAY, SEPTEMBER 22, 2023 NEWS Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322
Owasanoye (left), with the Lateef Fagbemi, at the
FRIDAY SEPTEMBER 22, 2023 • THISDAY 7

SULTAN'S COURTESY TO DIRI...

Obi, Niki Tobi, Imoke, Kanu Agabi, Samad Rabiu, Affected as Wike Revokes 165 Plots of Land in FCT

Olawale Ajimotokan in Abuja

FCT Minister, Nyesom Wike, has approved the immediate revocation of 165 plots of land in the serviced districts of the Federal Capital City.

Some of the high profile individuals affected by the action included the presidential candidate of Labour Party, Peter Obi; former Governor of Cross River State, Senator Liyel Imoke; former Secretary to the Government of the Federation, Chief Uffot Joseph Ekaette; former Justice of Supreme Court and chairman of the National Political Reforms Conference (NPRC), Late Justice Niki Tobi.

Others were former Justice of Supreme Court, Udoma Udo Udoma; two-time Attorney General of the Federation and Minister of Justice Kanu Agabi; Chairman of BUA Group, Alhaji Abdul Samad Rabiu; former Chairman of Leadership Newspapers, Sam Nda-Isaiah and columnist Donu Kogbara, among others.

Obi's plot of land in Katampe District was revoked, while Imoke plot of land in Maitama was also

revoked.

The FCTA explained in a statement yesterday, that the revocation was premised on the failure of the allotted owners to develop the plots.

It added that the notice for the revocation as compiled by the Land Department was approved by Wike, due to continuous contravention of the terms of agreement as encapsulated.

The FCT Permanent Secretary, Mr. Adesola Olusade, said in a statement yesterday, that the revoked plots belong to individuals and corporate organisations, who have continually failed to keep to the terms of agreement as contained in Section 28(5) (a) & (b) of the Land Use Act.

The affected plots are situated within some districts in the FCC namely: Central Business District, Maitama (A05); Maitama (A06); Wuse II (A08); Gudu (B01) and Wuye (B03).

Others are Jabi (B04); Utako (B05); Katampe Extension (B19); Idu Industrial Area (C16) and Asokoro (A04) Districts respectively.

Aboloma: National Quality Policy Will Unlock AfCFTA Benefits, Minimise Export Rejections

The Chairman/Chief Executive, National Quality Council (NQC), Mr. Osita Aboloma, yesterday, said the implementation of the Nigeria National Quality Policy would unlock benefits of the African Continental Free Trade Agreement (AfCFTA) for the country.

In a chat with journalists, he said the agency would assist in providing a supportive quality infrastructure which would consist of standards, metrology, accreditation, and conformity assessment services that must be acceptable globally to enhance the competitiveness of products and services made in Nigeria.

Aboloma, pointed out that without adhering to international standards, the country may not enjoy the benefits of the AfCFTA as products from Nigeria will continue to suffer rejection due to non-conformity with standards.

He said within the short-tomedium term, the agency would convene a stakeholders’ summit on the implementation of the quality policy and how it affects every facet of the economy.

He said, “We plan to have a

national discourse across the country where we will be discussing the details of the National Quality Policy, how it affects the various sectors of the economy, and how it will improve our economy.

“We will also be doing gap analysis that will look at gathering data for every laboratory that exist in Nigeria whether government or privately owned, what they are testing and their capacity for those tests, do they have international accreditation, would their result be accepted in Togo for example since we are talking about AfCFTA."

He added, “When we analyse where the gaps are, we can properly advise the government on what needs to be done in the short term, medium term, and long terms to ensure that trade and commerce within Nigeria, with our neigbouring countries and the rest of Africa and internationally, is going to benefit Nigeria.

“Those activities will generate jobs for the country, boost economic growth, and increase exports for Nigeria. So, it is the working of the National Quality Infrastructure that will guarantee business to function well and the products they are producing are giving people value for their money.”

"The Federal Capital Territory Administration FCTA hereby informs the general public that the Minister of the Federal Capital Territory has, in the exercise of the powers conferred on him under Section 28(5)(a) & (b) of the Land Use Act 1978, revoked the underlisted plots with names and titles as reflected in our records for

continued contravention of the terms of development of the Right of Occupancy to wit non-development," Adesola said.

Also the Director Information and Communication FCT Mohammad Hayat Sule, stated in another statement last night that the revocation of the affected plots was approved by the Wike following the violation of the

terms of Rights of Occupancy.

“The Minister of the Federal Capital Territory has, in the exercise of the powers conferred on him under Section 28(5)(a) & (b) of the Land Use Act 1978 revoked the affected titles for continued contravention of the terms of development of the Right of Occupancy to wit non-development,”Sule said.

Wike had upon his appointment as minister vowed to revoke undeveloped plots and those whose ground rents had not been paid for years.

He recently gave allottees defaulting in the payment of their ground rent a two-week grace to pay their obligations or risk revocation of their allocations.

Danbatta: NCC to Improve on Digital Inclusion Gains

Oghenevwede Ohwovoriole in Abuja

The Executive Vice-Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has said the Commission would improve on the gains already recorded with digital inclusion, and other areas such as enhanced security of cyberspace and innovation.

Danbatta, stated this yesterday, at the ongoing Parliamentarian Africa Internet Governance Forum (AfIGF) in Abuja, which is hosted by the NCC.

The theme of the event is, “Transforming Africa’s Digital Landscape: Empowering Inclusion, Security and Innovation."

According to him, in Nigeria, the financial inclusion strategy of the federal government was telco-driven, adding that that the idea behind leveraging the telecommunications

infrastructure strategy was due to the pervasiveness nature of telecommunications infrastructure.

"Before, the mobile money penetration was one per cent, but not anymore after the Central Bank of Nigeria (CBN) gave licences to four of our network operators.

"As we speak today, the Payment Service Bank (PSB), the digital financial inclusion index has risen to about 70 per cent," he said.

Danbatta, stressed the that Unsupplementary Structured Service Data (USSD) code which drives transactions in the banking sector presentwas made available by NCC.

"Nowadays, Nigerians do transfer without having to go to the banking halls to fill tellers, which used to be the way we were doing it before.

"This important intervention is provided in all the six geopolitical zones of the country. It is a

continuous exercise and intervention," he noted.

He stated that as a Commission, NCC has a number of initiatives driving the national system of innovation, explaining that NCC empowers the younger ones, the middle age and mature Nigerians outside these bracket to innovate by providing Interventions of computer systems and mifi.

On enhancing the already enhanced security of the cyberspace, he cited the Nigerian Computer Emergency Response Team (NCERT) initiated by the NCC.

In addition, he said this provides advisory on how telecommunication companies could take measures to protect themselves from malicious attack within the cyberspace.

The Secretary General, AfIGF, Hon. Samuel George, a member of the Ghanaian parliament said it was important to have a unified

African cybersecurity approach to an African problem.

George explained that the African Union (AU) data and policy framework had the synchronised ability to share information with Nigerians and other African countries. According to him, the military and security intelligence that just deal with security, intelligence gathering and all of that should be able to share critical information with a Nigerian military sector.

"If there is a risk that covers both Ghana, Togo, Benin and Nigeria and they do not have similar protocols, then it affects this conversation.

"And that's why as an African continent we need to ratify this convention because the things that were topical eight years ago in 2015 are mundane now, technology has moved on.

"So we will need to catch up with it," George said.

AfDB Pledges Support to UNSG on Climate Adaptation, Early Warning System

Ugo Aliogo with agency report

The African Development Bank President (AfDB), Dr. Akinwumi Adesina, has pledged his institution’s full support to the United Nations Secretary General’s Early Warning for All initiative and the Systematic Observations’ Financing Facility.

A statement explained that the bank would is the implementing entity for the Facility in Africa.

Speaking yesterday at the United Nation’s Climate Ambition Summit session titled: ‘Delivering Climate Justice: accelerating ambition and implementation on adaptation and early warning systems for all,’ Adesina said climate change was devastating Africa’s economies. He pointed out that the continent accounted for just three per cent of total emissions globally and was losing $7-$15 billion annually from climate change, an amount projected to rise to $50 billion in

the next seven years.

The AfDB chief emphasised that despite its relatively minuscule level of total emissions globally, Africa receives a mere three per cent of total global climate finance. He said the continent was facing a climate finance gap of $213 billion through 2030.

The Bank head explained that the ClimDev Africa Special Fund—which the African Development Bank hosts—had provided $74 million to support 12 countries and five regional climate centres that serve 27 countries.

This funding, he said, supports the countries in addressing weaknesses in the diversity of climate and weather services and reducing loss and damage from extreme weather events. Adesina detailed five ways in which the bank was supporting climate adaptation in Africa.

“First, the Bank Group is mobilising $25 billion in climate adaptation for Africa through the

Africa Adaptation Acceleration Programme.

“This is a joint initiative with the Global Center on Adaptation. To expand Africa’s access to financing for climate adaptation, the Bank is supporting countries to develop climate adaptation investment compacts.

“Seven such compacts were launched at the Africa Climate Summit in early September, and there will be more ahead of November’s global climate summit, COP 28.

“Second, the African Development Bank is implementing the $20-billion Desert to Power programme to develop 10,000 megawatts of solar energy across eleven countries of Africa’s Sahel zone. This will provide electricity for 250 million people,” he explained.

Speaking further, he said: “Third, the Bank has launched a $1-billion Africa Climate Insurance Facility for Adaptation to help insure African

countries against extreme weather patterns and catastrophic climate shocks.

“Fourth, along with its partners, the Bank has launched the Alliance for Green Infrastructure in Africa (AGIA) to mobilise $500 million for project preparation and project development on green infrastructure.

“AGIA will also mobilise $10 billion in private sector investments across green infrastructure assets in Africa.

“Finally, the African Development Fund—the Bank Group’s concessional window—has newly opened a $429-million Climate Action Window, which will support climate resilience for the 37 low-income countries in Africa.

“It will provide crop and livestock insurance for 20 million farmers, and support 20 million people to access climate information systems. The Bank Group’s goal is to expand the size of the facility to $13 billion.”

NEWS
8 THISDAY • FRIDAY, SEPTEMBER 22, 2023
Bayelsa State Governor, Senator Douye Diri (left) and the Sultan of Sokoto, His Eminence Sa’ad Abubakar III, during the royal father’s courtesy visit to Government House, Yenagoa, ... yesterday

ROYALTY AT THE UNITED NATIONS...

President Bola Ahmed Tinubu (R) with His Royal Majesty, the Olu of Warri Kingdom, Ogiame Atuwatse III; on the sideline of United Nations General Assembly in New York ... yesterday

UNGA: Mrs. Tinubu, Adeboye, Others Seek Peace at African First Ladies’ Forum

Chiemelie Ezeobi in New York

Nigerian First Lady, Senator Remi Tinubu, Pastor Folu Adeboye, Founder, African Missions Global, and other African First Ladies, yesterday,

called for global peace at the First Ladies High Level Forum at the 78th sidelines of United Nations General Assembly (UNGA) in New York.

Themed "Gender Actions for Peace: Ambition for Women

Leaders as a Key Players on Global Peace", it was championed by Prof Ada Okika, Africana Women Working Group at the UN; Executive Director, Civil Society Legislative Advocacy Centre (CISLAC), Auwal Ibrahim

Musa Rafsanjani; Framazaz Foundation and others.

The Peace Day established by UNGA in 1981, is a call to action that recognisedthe individual and collective responsibility to foster peace, contributing to the

SON Mulls Phasing out Non Energy-friendly Appliances

Gilbert Ekugbe

As part of efforts to combat the adverse effects of climate change and bridge energy gaps, the Standards Organisation of Nigeria (SON) is considering phasing out appliances that are not compliant with global energy standards in the country.

The standards body stated that the move was coming on the heels of the present administration's efforts to bridge energy shortages in the country, explaining that SON was willing to support initiatives aimed at promoting sustainable energy efficiency systems.

The Director General, SON, Mallam Farouk Salim, at the launch of the AC Bioclimatic Testing Chamber, co-funded by the European Union (EU) and GIZ in Lagos, urged Nigerians to discourage the use of nonenergy-friendly equipment to reduce the cost consumers incur in powering their appliances in the country.

The Director General who was represented by the Director, Product Certification, SON, Mr. Tersoo Orngudwem, said, "This is why we are partnering the Nigeria Energy Support Programme (NESP) to ensure that this comes to reality. We are using this opportunity to encourage Nigerians to use only energy-friendly devices in their houses."

He added: "The Director General, SON, in a short while will be making an announcement

on importation of non- energy friendly equipment in our environment.

“We will give a timeframe for phasing out of non-energyfriendly equipment. There are market forces and trends determined by the World Trade Organisation (WTO). We cannot just change a policy overnight.

“We will give a timeframe for phasing out of the equipment and it would be publicly announced so that the importers, manufacturers and consumers we know when they will start having the right thing in the market."

The Director General said the launch represented a significant leap in the field of testing, particularly in the areas of Heating, Ventilation, and Air Conditioning (HVAC) specifically for the testing of Air Conditioning systems.

"It suffices for the determination and verification of compliances of Air Conditioners to the Minimum Energy

Performance Standards & Labels (MEPS &L). I am particularly excited that this specialised testing facility designed for evaluating the performance, energy efficiency, and durability of air conditioning units, will provide a more concerted conformity assessment solution in this sector in Nigeria and across West Africa," he said.

According to him, global energy challenges and the attendant environmental implications were no longer news, stating that the need to find sustainable solutions was of paramount importance.

The Permanent Secretary, Ministry of Power, Mr. Temitope Fashedemi, represented by the Director Renewable and Rural Power Access Department, Abubakar Ali-Dapshima, said the equipment commissioned was a game changer in the energy efficiency industry and remains one of the very important equipment for SON to test air conditioners in the country for

maximum performance.

"If the project is fully implemented, I am assuring you that the equivalent of achievement in the power sector is eliminating the small and medium power plants by almost 200. This tells you how we are going to get efficient power supply which would be released into the system," he said.

He noted that the cardinal objective of the equipment was to have cleaner energy and eliminate the degradation of the ozone layer by reducing carbon emissions into the atmosphere.

The Energy Programme Manager at the EU Delegation to Nigeria and ECOWAS, Mr. Godfrey Ogbemudia, said the EU was working to ensure that standards are put in place to ensure that Nigeria would not be a dumping ground for substandard equipment, but ensuring that any equipment entering into the country meets the Nigerian Industrial Standard (NIS).

realisation of the Sustainable Development Goals (SDGs).

Beyond the several sessions that held, the first ladies marked the 2023 UN Day of Peace Prayers and Ringing of the Peace Bell and as the 517th person that rang the World Peace Bell, Tinubu and others rang for three things: "global sustainability, love and peace, as well as the world as one."

Earlier in her speech, she said: "The journey towards a lasting peace requires dialogue, engagement and empowerment of all members of society, in particular women in leadership roles.

"Women bring unique perspectives, qualities, compassion and experience, which can play transformative roles in conflict resolution, peace and sustainable development."

She urged the women to make use of their soft power in advocating for peace and pursuing democracy, urging them to contribute in reducing underage violence.

Also speaking, Adeboye, urged the First Ladies not to let their husbands cause trouble for their respective countries or go to war, using Biblical references to highlight the importance of a woman or wife to a leader in the peace and development of a society.

At the event, the Executive Director, Civil Society Legislative

Advocacy Centre (CISLAC), Auwal Ibrahim Musa Rafsanjani, also presented the SDG 16 Nigeria 2022 Shadow Report 2023 on Peace, Justice and Strong Institutions.

The report was prepared using a Transparency International global template,which helped cross chapter comparison amongst countries and was produced by CISLAC as TI Nigeria under the project, which sought to improve democratic accountability of public institutions and anti-corruption deficits by Strengthening Accountability Networks among Civil Society (SANCUS) which is supported by the European Union.

In one of the sessions, Mrs. Ijeoma Ogalla, President of Naval Officers' Wives Association (NOWA), who was represented by Zainab Akpan, wife of the Chief of Policy and Plans, Rear Admiral Joseph Akpan, said peace would not come unless people make it happen.

Prof Okika of the African Women Working Group of the UN said since 2010, they had continued to advance the course of women in leadership positions through the programme, First Ladies Becoming High Level Forum on SDG 16 and Targets to bring global awareness on the most needed roles of Fist ladies of Nations on women and peace.

Tinubu Appoints Abiola’s Son SA on Special Duties

Olawale Ajimotokan in Abuja

President Bola Tinubu has appointed Jamiu Abiola, the son of the late Chief Moshood Abiola (MKO), winner of the annulled June 12, 1993 presidential election,

as Special Assistant on Special Duties.

The president made the appointment in the letter he sent to the Secretary to Government of the Federation (SGF), George Akume, before he left for the United Nations General Assembly in New York.

Abiola, who graduated from the New York University in United States has been deployed by the President to office of the Vice President, Kassim Shetimma, to assist the Tinubu-Shetimma-led administration in achieving the promises made to

Nigerians during the 2023 presidential poll.

It is believed the appointment was in deference to the late Abiola’s accomplishments and acclaimed philanthropism in the country and abroad.

“I am pleased to inform

you that the President of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, has approved your appointment as Special Assistant to the President on Special Duties (Office of the Vice President),” the letter sighted by THISDAY read.

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INAUGURATION OF PARALLEX BANK MARINA BRANCH…

Tribunal Dismisses Edeoga’s Petition, Upholds Election of Mbah as Governor

Chuks Okocha in Abuja and Gideon Arinze in Enugu

The Enugu State Governorship Election Petition Tribunal sitting yesterday, upheld the election of Mr. Peter Mbah of the Peoples Democratic Party (PDP) as the winner of the March 18 election.

In his reaction to the ruling, Mbah, lauded the decision of the Tribunal which dismissed the petitions of the Peoples Redemption Party (PRP) and the Labour Party (LP) candidates challenging his victory in the election, describing the decision as victory for democracy and the people of Enugu State.

But Labour Party lamented the judgement, stating that it was like a horror movie that was being played out.

The tribunal that sat in Enugu, dismissed the petition by the candidate of the PRP, Christopher Agu, for being incompetent. On his part, Chijioke Edeoga of the Labour

Party had approached the tribunal to challenge the declaration of Mbah as winner of the election on the grounds that he was not qualified to stand for the election, that he forged his National Youth Service Corps (NYSC) certificate as well as had alleged cases of over-voting in Udenu, Nkanu East and Enugu East local government areas.

But delivering the judgment yesterday, the Tribunal chaired by Justice Kudirat Murayo Akano, dismissed the petition for being incompetent.

The tribunal held that the petitioner, Edeoga, also failed to prove his allegation that the PDP candidate, Mbah submitted a forged certificate to INEC.

The tribunal also ruled that the NYSC discharge certificate was not among the requirements for the qualifications of a person for the office of the governor in line with Sections 177 and 138 of the 1999 Constitution as amended.

Soludo Abolishes Payment of Fees in All Public Schools in Anambra

Anambra State Governor, Prof Chukwuma Soludo, has abolished payment of fees and other levies in all government schools in the state.

Soludo, said the abolishment applies to pupils from nursery, primary and junior secondary schools.

He made the remark yesterday, when he visited Premier Primary School, Obosi in Idemili North Local Government Area and Ado Girls Secondary School in Onitsha. He warned that no teacher must demand money in any guise from pupils in government schools, stressing that anyone caught doing so would be sanctioned.

Though Anambra has been maintaining tuition free schools, but in the state have witnessed massive imposition of levies on parents.

While speaking, Soludo said: "From today as I make this pronouncement, no child in Anambra, from nursery to

primary, up to junior secondary 3 is expected to pay anything.

"The constitution of Nigeria requires government in Nigeria to as soon as it is practicable, offer free primary or secondary education.

"Among the four categories of schools in the state, government-run public schools are the least in terms of infrastructure and otherwise, but by this announcement, my administration will begin massive revolution to bring out public education to be a model in the education sector.

"Government will be investing and rebuilding infrastructure in the schools in the coming weeks and months. We will roll-out government full agenda for the education sector in the coming days.

"This administration will begin to use education as an opportunity equaliser. Education is not just the future, but the present. The big agenda is to mainstream education as the foundation," Soludo explained.

It also held that Mbah was qualified to contest the election, regardless of whether or not he submitted any NYSC discharge certificate, adding that a Senior Secondary School Certificate or its equivalent was a minimum academic qualification for election for the office of the governor in line with Section 177 of the constitution.

The tribunal said given that Mbah did not submit the certificate in, “aid of his qualification” for the office, his election could not be voided on the grounds of non-qualification.”

Furthermore, Akano ruled that contrary to the allegation by Edeoga, Mbah scored the highest number of lawful votes in the election in compliance with the electoral law and that the petitioner also failed to prove that there was a non-use of the Bimodal Voter Accreditation System, (BVAS) during the election in Nkanu East Local Government Area.

Reacting to the ruling, Mbah, lauded the decision of the tribunal.

The governor, who also extended hands of fellowship to the opposition candidates and their political parties, said the task to build Enugu remained a collective one, adding that he was committed to working with all, irrespective of political persuasions.

Addressing the state, at the

Government House, Enugu, Mbah said: “This is another memorable day in the anal of our dear state, as the Enugu State Governorship Election Petition Tribunal affirmed the mandate, which you freely gave to us on 18th of March this year.

“This is victory for Ndi Enugu. It is also victory for democracy.

“It is a victory for massive development for Ndi Enugu. It is a victory for exponential growth for Ndi Enugu. It is a victory for Enugu’s greatness. It is a victory for the ban on Monday sit-at-home. It is also victory for our determination to restore water in all your homes in the next 68 days.”

While thanking God for making the victory possible, Mbah also commended the tribunal for painstakingly dissecting the petitions and, “for coming out with fair and just decision that resonates with Ndi Enugu.”

According to him, “the verdict has further strengthened our confidence in the judiciary as the temple of justice and the last hope of the common man.”

Extending hands of fellowship to his opponents, Mbah said: “There is time for everything under the sun. There is time to strive and time to unite. We all put ourselves forward to serve Ndi Enugu. The people have spoken and the tribunal has

also affirmed.

“If service was the motivation, then it is time to rise above partisanship and come together because there is so much work to be done.

“Our arms are wide open and I beckon on my brothers, who ran this race with us, to join us in the onerous task of building a new Enugu State of our dreams.

“In the same vein, I enjoin all our supporters to be magnanimous in victory. Politics is over. Governance began on 29th May when we were inaugurated. It is time to unite.”

Mbah, who reiterated his resolve to deliver on his campaign promises, further stressed that the tribunal’s decision was an elixir to do more, and urged the people to hold him to account on those promises.

“Once more, I immensely thank the good people of Enugu State, who not only believed in us, but also vested their mandate in us. Above all also above, they have stood by us every step of the way.

“I want to assure them that I will work for them with every fibre of my being. I stand by every campaign promise I made as espoused in our Statement of Purpose.

“I also stand by the Citizens Charter that I executed on my first day in office. The Enugu people should hold me to account. I will

not let them down,” he added.

Mbah’s victory drew commendations from different groups in the state.

In a statement by Odimma Nsukka, the pan-Nsukka sociocultural organisation described Mbah’s victory as victory for purposeful leadership and speedy transformation of the state.

The statement signed by the group's Chairman, Engr. Vita Abba, stated: “We are happy that the Governor Peter Mbah administration has come to stay and Ndi Enugu will sure rejoice. This is a popular mandate.”

Reacting to the judgment, Isi-Uzo, the home local government of the Labour Party candidate said the judgement reflected the popular wish of the people of Enugu State.

A statement by the Chairman of Local Government Council, enjoined Mbah’s opponents to accept his hands of fellowship to move the state forward.

“The good people of Isi-Uzo LGA hold this to be true that justice has been done. It is justice for the good people of Enugu State, who queued under the sun for hours to cast their ballots to unlock the massive vision that Dr. Peter Mbah expressed during his tour of the 68 Development Areas before the election.

Health Sector Stakeholder Hails Inclusion of Social Welfare by FG

The Coordinator, Africa Health Budget Network, (AHBN), Dr. Aminu Magashi has applauded President Bola Ahmed Tinubu for his initiative of adding the Social Welfare arm to the Ministry of Health.

According to him, the move would better the health outcomes for Nigerians, since welfare plays a big role in the wellness of the populace.

He also advocated for the reactivation of the culture of holding bi-monthly engagements with members of the media to discuss and inform Nigerians of developments in the health sector. Magashi, who made the call in Abuja, during a meeting with newly elected executive members of the Association of Nigerian

Health Journalists, (ANHEJ), noted that the practice was one that enhances feedback with the populaces, as well as, engenders accountability.

He explained that the bimonthly briefing was introduced by the Federal Ministry of Health in partnership with AHBN, to provide a platform for update on developments around efforts to contain COVID-19, Lassa Fever, routine immunisation coverage, reproductive health initiatives among others.

Magashi stressed the need to sustain the gains of the bi-monthly media interactions where the ministers, permanent secretary, heads of departments and agencies in the health sector, including private sector players communicate with the masses through the media.

He appealed to the coordinating minister of health and social welfare, Dr. Muhammad Ali Pate, the Minister of State for Health, Dr. Tunji Alausa and the permanent Secretary, Daju Kachollom.

He explained that AHBN which signed agreement with the Ministry of Health, had been supporting the b-imonthly press briefing

"The last two years ago, we have been supporting the bimonthly press briefing at the Ministry of Health, and we found that meeting productive and engaging in the sense that the Minister of Health and all the head of MDAs with the Chief Executive Officers in the health sector will sit down in every two weeks or every month to provide updates of what us going on in the health sector in Nigeria about COVID-19, health

security, family planning, and so many in the country.

"Engaging the media on a quarterly basis has become productive and, at the same time, very useful to Nigerians whereby we know what is going on in every aspect of our healthcare system.

"That have become a transparent and accountable process where ministers provide update and the CEOs of the health sector.

"I think it's important to revive that press briefing with the coordinating minister of health, the minister of state, and SA to the president on health to provide updates.

"When the political players talk to the media, in the bimonthly meeting, indirectly, they are talking to Nigerians because it is through the media that ordinary Nigerians would get updated."

Declares NYSC certificate not among requirement for office of governor Verdict, victory for democracy, Enugu, says Mbah Extends hands of fellowship to opposition Labour Party insists judgement absurd, horrific
16 THISDAY • FRIDAY, SEPTEMBER 22, 2023 NEWS
L-R: Company Secretary, Parallex Bank Limited, Dr. Chris Ebare; Managing Director/CEO, Olufemi Bakre; Chairman, Adeola Phillips; Non-executive Director, Solayinka Agboola; and Executive Director, Mathew Okojie, during the official opening of Parallex Bank Marina Branch in Lagos… Wednesday SUNDAY ADIGUN

Police

Exhume Mohbad’s Body for Autopsy

Senator Abbo assures deceased’s mother of justice Youth Party wants industry’s culture of violence addressed

Segun James and Wale Igbintade

The police, yesterday, exhumed the body of 27-year-old Afrobeats star, Ilerioluwa Aloba otherwise known as MohBad, who died recently in an unclear circumstances, for autopsy.

This was as the Senate Committee Chairman on Creative Arts and Entertainment, Senator Ishaku Elisha Abbo, has assured MohBad’s mother that the federal government would ensure that justice was done over her son’s death. Abbo visited the family of the late singer, in Lekki, Lagos.

At the same time, the Youth Party, has called on the Federal Ministry of Culture and National Orientation, the States Ministry of youth and culture as well as Performing Musicians Association of Nigeria (PMAN) to address the prevalence culture of violence and intimidation in the music industry.

MohBad died on September 12 and was buried the following day, allegedly without a doctor’s certification, a move that incensed

many of his fans and Nigerians alike.

However, the police spokesperson in Lagos, Benjamin Hundeyin, gave the update via his X handle, saying, “Exhumation completed. Autopsy to commences.”

The police on Monday set up a 19-member committee to carry out a discreet investigation, which included exhumation, autopsy, scene visit, medical report, records of suspects and witnesses’ statements.

The committee was given two weeks to wrap up its investigations.

In the same vein, the Lagos governor, Babajide Sanwo-Olu, had invited the Department of State Security (DSS) to join the police in unraveling the cause of death of the music star.

Sanwo-Olu, also via his X handle on Tuesday, said the move was to “boost the investigations” into the death of the artiste.

These, nonetheless, hundreds of his fans had taken to the streets to seek the prosecution of those who had hands in his untimely passage.

This had also followed hashtag

#justiceformohbad, now trending on X, formerly known as Twitter..

Already fingered in his death were Naira Marley, and his associate Sam Larry, with whom he had a misunderstanding before leaving the Marlian Records label in 2022.

Marley in a post on his Instagram handle has called for a thorough investigation into his ex-signee’s death and pledged to assist with “uncovering any foul play or injustice”.

Larry, too, a music promoter, came under heavy fire on the internet after a video of him and his men disrupting Mohbad’s video shoot with Zlatan Ibile surfaced on social media.

It was alleged that the music promoter and his associates subjected Mohbad to constant bullying and threats, resulting in multiple bodily injuries after he left their label.

Meanwhile, Abbo, who represents Adamawa North Senatorial District, was accompanied by artistes Tonto Dikeh and Iyabo Ojo to MohBad's residence at Royal Pine Estate, Lekki,

Lagos.

The senator, who gave an undisclosed sum to the mother, urged her not to feel intimidated, saying government was ready to protect her and the entire family members.

Toto Dikeh also promised that her Foundation would provide scholarship to MohBad's son and the family was entitled to N100,000 every month.

Senator Abbo said, "I'm here to condole the family. I'm chairman Senate Committee on Creative Economy and Vice chairman on Youths because I'm also a youth.

"Nobody will hurt you. I am here to console with the family. When we heard of your son's death and the controversy or circumstances that appeared on social media, we feel it is important to come here and condole with your family and see you.

"The government will never abandoned her citizen. This current administration has created a ministry, that is the ministry of arts, culture

Peterside: Why INEC Must Be Held Accountable for Failings of 2023 Elections

Emmanuel Addeh in Abuja

Investment Banker, Economist and Founder of Stanbic IBTC Bank Plc, Atedo Peterside, has maintained that the Independent National Electoral Commission (INEC) must be held accountable for the failings encountered during the 2023 presidential election.

Speaking on Arise Television, THISDAY’s broadcast arm, the Founder, Anap Foundation, stated that he was more concerned about the process that threw up the current leadership in the country, rather than who emerged winner.

“My biggest interest there is not whether Peter Obi or Abubakar Atiku, get what they are looking for, but to ensure that damage is not done to the whole system.

“The whole purpose of the electoral act, the most improved, which was one of the legacies of the Muhammadu Buhari administration, was that it was supposed to deliver an improved environment for us to carry out elections transparently.

“It was to lower the burden of proof for petitioners and make the information available to the world via INEC’s iReV. So, anything that threatens all those gains, should be elevated all the way to the Supreme Court and let the court tell us which elements of the electoral act are still valid and which ones are not,” he maintained.

Peterside stated that on the business side, all the monies spent on ensuring transparency in the last election now seem to have to be wasted, explaining that INEC failed to make good its promises to ensure a transparent system.

“I am talking now as an economist. We spent at least N350 billion to create something like the INEC iReV that was supposed to put things beyond doubt. In the Osun governorship elections, everything was done almost correctly.

“By 6pm, many of us on the iReV website had known the results, but for the presidency there was talk about a glitch. But more than six months later, they have still not

uploaded all the polling units.

“You turn to some pages, it says access denied and you see blurred images. If they got it right for Osun, what stopped INEC from getting it right at the presidency,” he questioned.

Peterside wondered why the court rejected a witness because he was a party member, why witnesses subpoenaed refused to appear and were left unsanctioned, why proof of election malpractices required the calling of witnesses ward by ward, among others.

Stressing that there were many issues that needed to be addressed, Peterside said the court should tell Nigerians whether electronic voting should be discarded forthwith.

He argued that if an electoral commission cannot bring out the certified true copy of its own work, then it has no reason to be there in the first place.

Noting that he wouldn’t want to delve into second-guessing the Supreme court, Peterside explained that he was concerned about what

the future portends for Nigeria, given the current realities.

He explained that even for businesses, judgements of the courts have implications, since investors will think that the judiciary may not be able to interpret simple statutes.

He contended that when courts depend on technicalities to quash cases before it, rather than looking at the big picture, it then raises questions.

On the question of business confidence, he stated that the economy remains a complex whole, in which investors look at how law and order is enforced before putting their money anywhere.

“President Tinubu should be as concerned as I am. He should ask INEC why they are hiding detailed results till now. If I pass an exam, I will gladly want them to broadcast the results, polling unit by polling unit,” he said.

He noted that it was impossible for investors to come into the country when their are questions over the judiciary.

and creative economy and Mohbad was a major player in the creative economy of this country. So, when his death come, the Senate, feels that the interest Nigerians have in this matter will must begin to listen, we can't pay dead ears to what Nigerians are crying for.

"It has taken a different dimension now. It's like the movement of black lives matter, because celebrities all over the world have started posting justice for Mohbad. And I want them to know that government is interested in the case, nobody is hiding anything, nobody is above the law. We have absolute confidence in the Police.

"The IG has ordered a thorough investigation in the matter and it would be investigated. We are here to let the family know that we are

with them.

"The Senate will resume on the 26th of September that is a few days from now and we are going back to the chamber. And we are assuring you that the Senate which belongs to the Nigerian people will look into this without any sentiment. We will look into the matter and we will invite the police to come and brief us on what they have done so far on this matter," he said.

Senator Abbo, however, cautioned the youth as they go on to protest across the country, noting that they should not take laws into their hands.

On their part, the Youth Party in a statement by its Acting National Publicity Secretary, Ayodele Adio, said members of the party received the untimely passing of the rising Afrobeat Star with heavy hearts.

Ondo Assembly: Dep Gov Has Right to Defend Himself

The Ondo State House of Assembly, yesterday, said the state Deputy Governor, Lucky Aiyedatiwa, has the full right to defend himself over allegations of gross misconduct leveled against him.

This came a day after the assembly commenced an impeachment process against Aiyedatiwa was said to have allegedly approved millions of naira for the purchase of a bulletproof SUV for his personal use, to be sourced from the Palliative fund while the approval was allegedly given when Governor Oluwarotimi Akeredolu was recuperating in Germany.

However, the Chairman, House Committee on Information, Olatunji Oshati, in a statement, confirmed that the Assembly had served the deputy governor the allegation letter but, clarified that the procedure would be rooted in due process and not hastily conducted impeachment

"We find it necessary to address some misconceptions regarding the allegation letter served on the Deputy Governor of Ondo State, Hon. Lucky Aiyedatiwa. It is crucial that our people understand that an allegation letter does not

equate to an impeachment verdict.

"Indeed, the allegation letter served to the Deputy Governor marks the initiation of the impeachment proceedings. However, it’s essential to remember that this is a procedure rooted in due process, not a hastily conducted impeachment. We are conscious of the integrity of our present assembly and will not falter in our constitutional responsibilities to our constituents.

"We wish to declare, unequivocally, that the entire process remains within the realm of allegations. We are committed to examining these allegations objectively. Our primary responsibility is to uphold the integrity of our beloved state and foster accountability and transparency, even at the highest levels of government," he said.

The lawmakers urged their constituents to refrain from making premature judgments, noting that neither the deputy governor nor the governor were immune to legislative actions.

"The allegation letter has been served, and Mr. Deputy Governor has the full right to defend himself. Rest assured, we are committed to following due process and will do so diligently," the statement added.

17 FRIDAY, SEPTEMBER 22, 2023 • THISDAY
Fidelis David in Akure
NEWS
AT THE UNITED NATIONS … President Bola Tinubu (second right) in a handshake with the acting Executive Chairman, Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, at the United Nations General Assembly in New York, United States, on Tuesday.
FRIDAY SEPTEMBER 22, 2023 • THISDAY 18
FRIDAY SEPTEMBER 22, 2023 • THISDAY 19

NIGERIA’S AGENDA FOR GLOBAL PEACE AT THE UNGA

Global peace and security will form a larger part of President Bola Ahmed Tinubu and Nigeria’s agenda at the 78th Session of the United Nations General Assembly taking place in New York city, USA. The annual gathering of world leaders will once more x-ray tensions and conflicts the world over. Top will be the regional and global friction created by the war between Russia and Ukraine as its tests the resilience of world leaders even as they negotiate for an amicable solution that will bring an end to the war, restore peace and improve the economic conditions of nations. The war has impacted negatively on the global socio-economic fabric of the world making life difficult for millions of families around the world, especially developing nations, where even a

Diaspora and Demography. It is why Nigeria’s participation at the Assembly is driven by the common aspirations of strengthening awareness on Nigeria’s commitment to upholding the tenet of democracy, good governance, and the rule of law through the entrenchment of the fundamental human rights of citizens and respect for the rule of law. Nigeria is purposed to reestablish its recognition of the United Nations, its member states and relevant bodies and agencies as the legitimate world body in supporting the pillars of peace, security, growth and sustainable development. Ambassador Tuggar will also play a critical role in monitoring and evaluating Nigeria’s bid for the UN Security Council in readiness for possible review.

Nigeria will also explore opportunities for collaboration to drive world peace and security in the context of its own challenges and security situation as Nigeria is keen on nuclear arm disbarment and global security as well as international cooperation to exterminate terrorism in the world. Nigeria as a committed nation desires stability both in terms of economic development and peace and security. Ambassador Tuggar will therefore be playing a critical role in leading and marketing Nigerian to the international community for the support that it can get to strengthen its local initiatives and quest for sustainable development.

JOSHUA J. OMOJUWA reckons that travelling through our airports is at variance with doing business with ease

NIGERIAN AIRPORTS: THE UNEASE OF TRAVELLING

of yet another set of NDLEA and Custom

grain deal had to be brokered to ameliorate food shortages in Africa most especially.

Equally, the resurgence of coups in West and Central Africa raises new security concerns which will compound the already troubled continent whose most parts have been bedeviled by the unholy atrocities of terrorists. It also raises a critical question about the state of democracy in Africa and its implications for the advancement of the fundamental human rights of the citizens of the affected countries.

It is based on the forgoing that Nigeria’s participation at the 78th Session of the UN General Assembly is not only critical for Nigeria but for the continent of Africa. Nigeria remains a leading player on the African continent and by its unique position obligated to provide the needed leadership that will take the continent out of the woods and ensure all African nations are nestled in the arms of democracy. Democracy is one of the pillars of President Tinubu’s diplomacy vision of 4D referred to in some quarters as the Tinubu Doctrine. It is therefore understandable why the Nigerian delegation is leaving no stone unturned in ensuring its participation at the Generally Assembly lights the path for Africa’s journey into a new future peopled by strong and determined Africans poised to change the fortunes of the continent as they renegotiate their economic inclusion within the larger global economy.

Driving this resolve is Nigeria’s Foreign Affairs Minister, Ambassador Yusuf Maitama Tuggar whose sterling leadership and diplomatic entreaties are already opening the doors of foreign partnerships and investments opportunities for Nigeria and the continent. This is being done chiefly through the 4D Doctrine of Democracy, Development,

Sustainable development will remain a thwarted dream if the coups in Africa continue unabated and Nigeria’s President Bola Ahmed Tinubu more than anyone else knows this as one who was at the forefront of campaign against the military regimes in Nigeria as an advocate of democracy. He is aware of the grave impediments posed by coups in Africa; that is why he the leading other African leaders in not only condemning the coups but working to strengthen the collective resolve of the people to resist the lure of a return to military dictatorship. This position characterized the President’s speech at the UN General Assembly in New York.

It is why President Tinubu in his speech, reiterated his commitment to “establish democratic governance in Niger in a manner that seeks to address the political and economic challenges of that country.” He was also categorical in stating that democracy remains the truest guarantor of the sovereignty of any nation. He called on the international community to strengthen its resolve in arresting the flow of arms and violent people into West Africa. Perhaps, what was most striking about President Tinubu’s speech was his unequivocal response to the conflict in Africa which he said appears to be fueled or orchestrated by partisan interest in Africa. He further stated that billions of dollars meant for Africa’s development have been invested in bringing an end to instability. The struggle for Africa’s economic independence is premised on good governance and democracy and this consciousness was not lost in President Tinubu’s speech. One can only hope that this awareness and the message will invoke the desired leadership response that will recalibrate Nigeria and indeed Africa’s development. Liam

3 THISDAY FRIDAY SEPTEMBER 22, 2023
Omojuwa
Book
is chief strategist, Alpha Reach/ author. Digital Wealth
is
a commentator on global issues
The struggle for Africa’s economic independence is premised on good governance and democracy, writes PAUL LIAM
20

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

EDITORIAL

RISING DEATHS BY ELECTROCUTION

The relevant authorities must do more to safeguard lives

The recent death by electrocution in Port mount a billboard, and a 17-year-old

cable fell.

We reiterate our call on the authorities in the power sector to develop a habit of quick response to complaints about fallen electricity poles, and exposed live wires

Letters to the Editor

Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

LETTERS

SHUAIBU AND ABUBAKAR AUDU’S BIG SHOES

4 THISDAY FRIDAY SEPTEMBER 22, 2023
T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com 21------Musa Wada, Abuja

POLITICS

Narratives Around Presidential Chief of Staff

Olanrewaju Smart writes that the wrong narratives usually associated with Chief of Staff to the President will change for the better with former Speaker of the House of Representatives, Hon Femi Gbajabiamila, at the saddle.

In the keenly contested 1976 Presidential election in the United States, Governor Jimmy Carter of Georgia campaigned as an outsider in Washington politics. He tried as much as possible to distance himself from the stain that the Watergate Scandal brought to the American Presidency. He came down hard on President Gerald Ford and his Chief of Staff, Dick Cheney. His promise to Americans upon electoral victory was to scrap the office of the chief of staff, due to the tendency to confer immense powers on unelected officials. This resonated with the American people and contributed to his victory.

In his first two and a half years in office, President Carter stayed true to his promise; he personally ran his own office and implemented a system, which guaranteed direct access between him and his cabinet members. However, he soon became overwhelmed and was forced to appoint 39-year-old William Jordan as his Chief of Staff. Jordan himself eventually became the target of attacks.

Despite his good intentions, President Carter has been ranked low among other American Presidents for his failures, many of which emanated from the way he managed the White House, which ultimately cost him re-election.

In his bestseller titled, “The Gatekeepers: How the White House Chiefs of Staff Define Every Presidency”, journalist and documentary filmmaker, Chris Whipple, gives the world an insight into how the President’s Chief of Staff can make or mar the administration.

Also, in his book titled, ‘Power, Politics and Death’, former Presidential Spokesman, Olusegun Adeniyi, speaks glowingly of former Chief of Staff, Major General Abdullahi Mohammed (rtd), who served President Olusegun Obasanjo for eight years and was retained by President Umaru Musa Yar’Adua.

Adeniyi, in the book, said President Yar’Adua acknowledged that General Mohammed even saved his political career. But not everyone was happy with his influence.

The chief of staff is the chief executor who supervises the execution of policy and the administrative drive of the President. Twenty-four years after the office was created by President Olusegun Obasanjo, it remains one of the most envied and talked-about offices in Nigeria.

The Chief of Staff combines administrative and political powers which he derives directly from the President who has the power to define limitations of the office.

He ensures that the President concentrates on state functions with minimum distractions.

If a President does not want to see an influential person for whatever reason, the Chief of Staff runs interference on both sides; from his principal to the recipient -in a manner that still preserves relationships.

As a Chief of Staff in the legislative arm, I have had assignments that could potentially set me on a collision course with politicians, businessmen and others.

Some wanted things done their own way only, but I had a duty to protect my principal. I received knocks for doing the exact job I signed up for, some weighty enough to make me lose same job I sought to protect.

Internally, co-workers of the same principal, try to out-do and undermine each other, despite working towards the same goals. Some principals adopt a deliberate ‘divide and rule’ approach to their own staff, due to its potential to create healthy competition of ideas, opinions and perspectives.

Proponents of this approach believe unity among staff, is uncanny and could breed a lazy and unstimulated system where staff are prone to head in just one direction and united in guiding their principal in that unprobed direction.

Principals are at liberty to adopt whichever approach that works for them.

The job of a CoS is a thankless one -when it is well done, the credit goes to the principal. The CoS takes the blame when things do not go well, especially for every in-circle decision

that does not satisfy the interest of colleagues, political associates, opposition and the public.

The era of the late Abba Kyari has created a fixated narrative in the minds of many -that the CoS is a cabal, and the function is to be a cabal.

One may ask questions regarding the action of a ‘cabal’. The likely answer would be that a cabal is a ‘powerful person or group of persons who makes life uncomfortable for people’.

This is the retrogressive narrative many have come to associate with that office. Not even the pedigree of the current Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila, a celebrated head of an arm of government, man of means and modest lifestyle will change that fixated narrative soon.

Before the 2007 elections, an uncle had shared his thoughts with me on why then governorship candidate in Lagos State, Babatunde

Raji Fashola (BRF), would be unable to win the heart of Lagos politicians. His basis was that BRF ruffled a lot of feathers, especially of politicians, while he was Chief of Staff to then Governor Bola Tinubu.

He described BRF as a core technocrat who rarely bent to the whims of politicians -they may want him to present payment files of certain contractors to the governor for his signature, even if the contract job failed to meet required specifications.

He said, BRF was one who would not do that -he would not mislead his principal.

To date, my uncle believes BRF won that his first primaries due to the popularity of his principal.This makes one believe the place of pride for a chief of staff may reside only in the heart of his principal who enjoys his loyalty.

I cannot imagine that Lagos would have lost such a bright mind like BRF as governor due to misgivings of some whose path he crossed, while serving as CoS.

Fashola left Lagos better than he met it.

As a leader with experience in legal practice and public service, Hon Femi Gbajabiamila does not underrate or overrate challenges that come his way. His core strength lies in his capacity to place the right people, policies and programmes together.

Constructive criticism and shades of opinion breed positive reforms. The mind of a true progressive must be open to opposing views at all times.

I know Gbajabiamila’s 39 years cumulative experience in law and legislative practices in Nigeria and international jurisdictions will count in keeping the Presidency safe for these positive reforms.

-Smart writes from Abuja

Adedeji: We Are Starting a Journey to Reshape Nigeria’s Future

Zacch Adedeji writes that despite mounting challenges, a fresh journey to reshape the nation’s economic future has began in earnest.

Iextend my heartfelt salutations to my predecessor, Mr. Muhammad Nami, whose leadership during his tenure elevated our standards, paving the way for our future endeavours. Mr. Nami’s commitment to excellence has set a remarkable precedent for us all.

I wish to convey my profound appreciation to each and every member of the Federal Inland Revenue Service (FIRS) family, spanning from our dedicated Coordinating Directors to our accomplished Senior Managers. Your unwavering dedication to our vital mission of propelling our nation’s economic engine is truly commendable. It is your collective effort and commitment that form the bedrock of our success and drive us forward.

On a personal note, I firmly believe in the wisdom encapsulated in the statement, “Revenue growth is the lifeblood of a nation’s economy, providing the means to fulfil essential duties to its citizens.”

These words, capture the core principle that will guide us as we navigate the challenging terrain ahead, ensuring that our nation thrives and fulfils its obligations to its citizens.

Presently, we confront a pressing revenue crisis, with a staggering 96% of government revenue being funneled into servicing our debts.

This stark reality necessitates swift and resolute action on our part. We cannot afford to delay; we must act decisively to reverse this concerning trend.

In our pursuit of a brighter fiscal future, we are determined to align ourselves with President Bola Tinubu’s esteemed Fiscal Policy and Tax Reforms Committee.

This collaboration will enable us to shape a prosperous fiscal landscape that empowers our nation’s growth and development.

As we chart our course ahead, FIRS is committed to placing innovation, technology, and fresh ideas at the forefront of our operations.

This strategic focus will empower us to

enhance efficiency, fortify against revenue leaks, and bolster coordination and accountability within our organization.

Our overarching goal is to nurture voluntary tax compliance by establishing a modern, dependable tax system that garners the trust and admiration of all stakeholders.

Through this, we hope to create an environment where taxpayers willingly fulfill their civic duties.

For those who deviate from their tax obligations, rest assured, we will enforce our responsibilities judiciously. We will implement a robust enforcement model that effectively deters tax evaders while maintaining fairness and transparency in our processes.

A fundamental aspect of our mission is to elucidate to taxpayers why their civic duty matters. We are committed to simplifying our tax system, making it accessible and comprehensible, thereby facilitating voluntary tax payments and fostering a sense of civic responsibility.

Quality data will be the cornerstone of our operations, enabling us to measure our progress, make informed decisions, and maintain the highest standards of accountability.

We recognize that data-driven strategies are essential to our success.

I pledge to maintain an open-door policy, actively engaging with stakeholders to collaboratively construct a tax administration that we can all take pride in.

Together, we will build an institution that serves as a beacon of excellence.

Our aspiration is audacious –to surpass Africa’s average tax-to-GDP ratio of 16.5% and achieve an impressive 18% within three years.

By doing so, we aim to reduce our nation’s reliance on borrowing and ensure financial sustainability.

The principles of integrity, confidentiality, professionalism, and fairness are non-negotiable in our service to the nation. Upholding these values will guide our actions and interactions as we work tirelessly to fulfil our mission.

Lastly, but by no means least, I would like to emphasize our unwavering commitment to the welfare of our staff. Your dedication will not go unnoticed, and we pledge to recognize and reward your hard work and dedication. Together, as one united team, we will work tirelessly to secure the prosperity of our nation and the well-being of its citizens.

In conclusion, I extend my heartfelt gratitude to each and every one of you for your dedication and unwavering commitment to this pivotal cause so far.

Together, we embark on a journey that will shape our nation’s future, and I am confident that, with our collective effort, we will overcome challenges and achieve remarkable success.

-Adedeji is Acting Executive Chairman of Federal Inland Revenue Service.

22 THISDAY FRIDAY SEPTEMBER 22, 2023
Acting Group Politics Edito r DEJI ELUMOYE Email: deji.elumoye @thisdaylive.com 08033025611 SMS ONLY

Stakeholders: Multiple Taxation, Operating

Responsible for Hike in Domestic Flights

Chinedu Eze

Aviation industry stakeholders have identified multiple taxes, high operating cost and charges levelled against the airlines by aviation agencies, as the factors responsible for the hike in domestic flights.

According to the stakeholders, airfares on domestic flight service have been on the increase in response to cost of operation, thus making it difficult for some Nigerians to continue to travel by air.

All these factors, in addition to the high cost of aviation fuel, known as Jet A1, are passed on to the passengers, such that the average fare for domestic flights is now N65,000 for one hour flight, and N80, 000 during peak periods.

THISDAY gathered that Nigerian travellers pay 5 per cent ticket sales charge (TSC) and 5 per cent cargo sales charge (CSC) through the airlines and the revenue generated are shared among aviation agencies, including the Nigeria Meteorological Agencies (NIMET), the College of Aviation

Technology (NCAT), Zaria, the Nigerian Airspace Management Agency (NAMA) and the Nigerian Safety Investigation Bureau (NSIB).

In addition to TSC and CSC, NAMA collects from the domestic airlines navigational and terminal charges, while international airlines flying across Nigeria’s airspace pay over-flier charges.

Also, the Federal Airports Authority of Nigeria (FAAN) collects from the airlines passenger service charge (PSC) in addition to landing and parking charges and from both the domestic and

international airlines, FAAN collects fuel surcharge of N2.50 per litre (this amount may have increased).

THISDAY learnt that jet A1 is about N700 per litre and a Boeing 737 classic, which is the predominant aircraft type in Nigeria burns about 3, 300 litres of fuel for one hour flight, which is about N2, 310, 000. When the taxes and charges are added and built into the ticket, airlines may barely break even at the current fares, an operator told THISDAY.

Currently Air Peace, Ibom Air,

United Nigeria, ValuJet, Overland, Dana Air, Max Air, Arik Air and others charge about N65,000 as base fare and there are indications that as Naira continues to drop in value, fares will continue to rise.

A senior official of airport managing company in charge of one of the most successful state airports in the country told THISDAY that the federal government must intervene and modernise airport infrastructure to make airlines fly longer hours.

He said that government should repair existing runway

lights and install new ones where none existed, install appropriate Instrument Landing System (ILS) to enable airlines operate till 10:00 pm to most of the airports in the country and 24 hours to the four international airports.

“When you buy a ticket you pay 5 per cent ticket sales charge to NCAA. That money is shared by NAMA, NCAT, NIMET, NSIB. After collecting those charges, NAMA still collect more charges.”

in Africa, Middle-East

Gilbert Ekugbe

The former Secretary-General of the United Nations, Ban Ki-Moon, has stated that a $10 billion Public-Private Partnership Initiative is expected to bring climate-resilient food security and food systems transformation to millions in Africa and the Middle East

Speaking at the just concluded Africa Climate Summit held in Nairobi, Kenya, the former Secretary-General of the United Nations said the Africa and

Middle East SAFE Initiative can potentially mobilise at least $10 billion of needed investment through publicprivate partnerships benefiting millions of people, saying that the collaborative approach aligns notably with global aspirations, specifically the priorities of SDG2 – Zero Hunger, and the COP28.

“If realized, the initiative referred to as the “Africa and Middle East SAFE Initiative” will focus on Scaling up climateresilient Agriculture and Food

systems transformation for Economic development in the two regions, “he said.

Ban Ki-moon called everyone to action saying, “To ensure that words and ideas lead to action and real tangible change, we need everyone, each and every one of us.”

The Africa and Middle East SAFE Initiative aims to invest in the future of these regions by unlocking green investments, promoting climate-smart agriculture for rural farmers, and creating green jobs. It

consists of two key frameworks, the Technical Assistance Fund (TAF) and Investment Platform (IP), which will help build climate-resilient economies.

This multi-faceted initiative plans to irrigate 2 million hectares of African farmland, enhance the climate resilience of 10 million smallholder farmers (especially women and young people), and address food security in both Africa and the Middle East. Additionally, it is expected to generate 2 million green jobs, improve livelihoods,

and export 2 million metric tonnes of food crops to the Middle East, valued at around $2 billion.

Also speaking, the President of Kenya, William Ruto, noted that meaningful change needs to happen through dialogues and the discovery of opportunities.

“An opportunity-oriented focus on climate action is the engine for propelling Africa into a real of stability and prosperity. We must see in green growth not just a climate imperative, but

MARKET DATA AS AT WEDNESDAY, SEPTEMBER 20, 2023

also a fountain of multi-billiondollar economic opportunities that Africa and the World are primed to capitalize on,”Ruto added.

The Africa and Middle East Safe Initiative propels the spirit of harnessing opportunities.

GGGI is committed to helping facilitate dialogues and shaping the initiative from the idea to realization. It will coordinate and support ongoing dialogues among diverse stakeholders to progress toward a foreseeable next step.

BUSINESS WORLD Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com 08056356325 23
$10bn PPP Scheme Targets
RATES AS AT SEPTEMBER 21,2023 MONEY MARKETREPOS & P INDEX S & P INDEXEXCHANGE RATE OPR 11.25% CALL 19.12% INDEX LEVEL 611.31% 1/4 TO DATE -0.07% N795.28/ 1 US DOLLAR* OVERNIGHT 11.50% 1-MONTH 16.25% 1-DAY 0.03% YEAR TO DATE 0.48%*AS AT MONDAY, JULY 24, 2023 3-MONTH 15.75% MONTH-TO-DATE -0.7% The story continues online on www.thisdaylive.com L - R: The Publisher, BusinessDay Media Limited, Frank Aigbogun; Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nneka Onyeali-Ikpe; Chairman, Fidelity Bank Plc, Mustafa Chike-Obi and former Minister of Information and Communication, Frank Nweke Jnr at the 2023 BusinessDay Top 25 CEOs Awa rds held in Lagos… recently THISDAY FRIDAY, SEPTEMBER 22, 2023 BONDS DESCRIPTIONPriceYield Change (%) Updated Time ^13.53 23MAR-2025 100.9512.82 0.00 September 21, 2023 ^12.50 22JAN-2026 98.6513.17 0.00 September 21, 2023 ^16.2884 17-MAR-27 107.24 13.61 -1,00 September 21, 2023 ^13.98 23FEB-2028 99.51 14.12 0.00 September 21, 2023 ^14.55 26APR-2029 100.53 14.40 0.00 September 21, 2023
Cost,
Food Security
BILLS MATURITYDiscountYield Change (%)Updated Time NTB 26-Oct23 3.60 3.61 1.18 September 21, 2023 NTB 9-Nov23 4.04 4.06 1.16 September 21, 2023 NTB 7-Dec23 4.91 4.96 1.13 September 21, 2023 NTB 25-Jan24 6.436.58 1.08 September 21, 2023 NTB 8-Feb24 6.87 7.06 1.07 September 21, 2023 CPS MATURITYDiscountYield Change (%) Time ZEDC CP I 17-NOV-23 1.530,00 1.567,00 115,00 September 21, 2023 NSDL CP IIA 22-NOV-23 1.985,00 2.055 ,00 114,00 September 21, 2023 MTNN CP V 23-NOV-23 1.211,00 1.237 ,00 114,00 September 21, 2023 NSDL CP IIB 23-NOV-23 1.987,00 2.058,00 114,00 September 21, 2023 VAAG CP XVII 24-NOV-23 1.736,00 1.790,00 113,00 September 21, 2023 OTC FX FUTURES CONTRACT TENOR (MONTH) Contract Current Rate ($/₦) Date 13 NGUS SEP 25 2024 914.19 September 21, 2023 14 NGUS OCT 30 2024 927.51 September 21, 2023 15 NGUS NOV 27 2024 938.61 September 21, 2023 16 NGUS DEC 24 2024 949.70 September 21, 2023 17 NGUS JAN 29 2025 960.80 September 21, 2023

Gruzd Calls for Str onger Bilateral Trade Relationship Between Nigeria and South Africa

Emma Okonji in Johannesburg, South

Africa

Programme Head, African

Governance and Diplomacy at the South African Institute of International Affairs (SAIIA), Mr. Steven Gruzd, has stressed the importance of strong institutions and committed government in building a stronger bilateral trade relationship between Nigeria and South Africa.

Gruzd made the call this week in South Africa during the visit of the second cohort of MTN Media Innovation Fellows from Nigeria to the institute, in continuation of their training programme, sponsored by MTN Nigeria, in collaboration with the Pan African University (PAU) in Lagos.

According to Cruzd, politically strong and committed government from both countries, including strong institutions, will further strengthen the bilateral relationship that existed between both countries from 1999 to 2007 when Olusegun Obasanjo and Thabo Mbeki were presidents

of Nigeria and South Africa respectively.

He said weak and uncommitted leadership eroded the bilateral relationship that existed between both countries and called for a re-visit of the Bi-National Commission that was formed in 1999, designed to strengthen trade relationship between Nigeria and South Africa.

“Both Presidents, during their reigns, were involved in the formation of the Organisation of African Unity (OAU) and the New Partnership for African Development (NEPAD), designed to strengthen trade relationship among African countries and to put Africa on sustainable development path. The commitment from both leaders, sustained the political and trade relationships between Nigeria and South Africa and such commitment on the path of government should be encouraged to foster stronger relationship between both countries in the areas of trade, visa travel document and cross-border financial transactions,” Gruzd said.

Fielding questions from Nigerian

journalists, Gruzd said: “When bilateral relationship between both countries is strong, it will benefit citizens of Nigeria and South Africa, but when the relation is weak, it will adversely affect the well-being of the citizens of both countries.”

Gruzd, who spoke in details about the challenges faced in South Africa, said the issue of sporadic spread of Xenophobia in South Africa, affected businesses of foreign nationals living and doing businesses in South Africa, which included Nigerian traders. He called on President Bola Ahmed Tinubu of Nigeria and President Cyril Ramaphosa of South Africa to re-strategise in their policies in order to ensure free trade relationship and easy access to visa travel document, including unhindered cross-border financial transactions between Nigeria and South Africa.

He acknowledged the fact that Nigerians in South Africa are doing great businesses, but condemned the action of few Nigerians that are involved in criminal activities

Aircraft Order Confirms Air Peace as Future Airline

Chinedu Eze

Last week, the West Africa largest carrier, Air Peace, made firm order of five Embraer E175 aircraft, thus raising the airline’s total aircraft order to 33.

The airline had earlier made firm order for 13 Embraer E195-E2, 15 Boeing MAX and has now ordered five of the Embraer E175. Out of the orders made, Air Peace has already received five Embraer E195-E2, while the rest of the E195-E2 will be delivered early 2025.

While announcing its latest order, the Brazil-based aircraft manufacturing company, Embraer, stated that Nigeria-based Air Peace, West Africa’s largest airline, has placed a firm order for five Embraer E175 aircraft.

“The strategic decision marks a significant step forward and is in alignment with Air Peace’s ongoing strategy of modernising its fleet. This acquisition is in line with Air Peace’s determination to become the operator of the largest

and youngest fleet of aircraft in Africa. It reinforces Air Peace’s commitment to enhancing its domestic and regional network connectivity and paves the way for further regional expansion.

Deliveries of the 88 seat aircraft start in 2024. The value of the order, at list price, is $288.3m,” Embraer said in a statement.

Embraer noted that Air Peace is already an operator of Embraer’s newest and largest jet, the E195-E2, noting that these smaller aircraft will complement the airlines’ existing fleet, allowing Air Peace to dynamically match capacity to demand, protecting yields and route viability.

The Chairman and CEO of Air Peace, Mr. Allen Onyema, said: “This is another important step in helping to realize our ambition to connect the whole of Nigeria with the entire African continent, while also feeding passengers into long-haul flights from our Lagos hub. The acquisition enables us to continue delivering on our ‘no-city-left-behind’ initiative

AIR WATCH

NCAT Lists Benefits of Airlines Involved in Recurrent Training

– connectivity is what our passengers, and Africa, demand. The deal also paves the way to establish local maintenance capabilities in Nigeria, with direct support from Embraer.”

Head of Africa and Middle East Region, Commercial Aviation, Stephan Hannemann, said: “Air Peace’s strategic and innovative approach continues to make them a powerhouse of aviation success in West Africa. Already an E2 operator, it now makes sense to upgauge their ERJ145 fleet, offering passengers more seats and comfort with the E175. The commonality of the cockpits between the E1 and E2 fleet also simplifies aircrew costs and management. Acknowledging Air Peace’s significant investment in the acquisition of the Embraer fleet of aircraft, which has increased to 18 brand new firm aircraft to date, Embraer, in partnership with Air Peace is committed to directly supporting the establishment of local maintenance capabilities in Nigeria.”

MMA2 Welcomes Old English Stores to Boost Experience

MMA2, operated by Bi-Courtney Aviation Services Limited (BASL), has welcomed Old English Stores, a well-known superstore in Nigeria, to its terminal.

Head of Space and Premises Management representing BASL, Kola Bamigboye, at the event emphasised that MMA2 is more than a terminal, it is a place of constant innovation.

Old English offers a wide range of food items, with freshly baked

bread being the most exclusive and highly sought-after product on their shelves.

During the opening event held recently, the Chief Operating Officer of Old English Superstores, Funmi Adedipe, shared that the decision to establish a store at the terminal was aimed at enhancing the shopping and travel experience for local travellers.

She said: “Old English is your ultimate destination for all your

immediate grocery needs, with a streamlined shopping experience.

“One of our standout features is our exceptional bread. Over time, we have maintained our unwavering commitment to quality. The taste remains consistent, and we prioritize quality above all else. We are not willing to compromise on quality, even if it means adjusting the price. This dedication is what keeps our customers coming back.”

IATA Marks 20 Years of Safety Improvements with IOSA

The International Air Transport Association (IATA) has marked the first 20 years of the IATA Operational Safety Audit (IOSA) at the IATA World Safety and Operations Conference, which took place in Hanoi, Vietnam, recently.

IATA’s Senior Vice President Operations, Safety and Security, Nick Careen, said: “Over the past two decades, IOSA has made a major contribution to improving safety, while reducing the number of redundant audits. While it is a condition of membership in IATA, more than 100 non-IATA member airlines also see the value of participating and we welcome others. Likewise, while

more than 40 governments use or are intending to use IOSA in their safety oversight programs, many more do not.”

The safety data confirm that in aggregate, airlines on the IOSA registry have a lower accident rate than airlines that are not on the IOSA registry. Since 2005, the all-accident rate for airlines on the IOSA registry is 1.40 per million sectors, compared with 3.49 per million sectors for non-IOSA airlines. In 2022, IOSA registered carriers outperformed those not on the registry by a factor of four (0.70 accidents per million sectors vs. 2.82 accidents per million sectors).

Reflecting the strong safety

performance of airlines on the IOSA registry, IATA entered into IOSA’s third decade with a call for regulators to recognize the significant contribution to safety that IOSA makes as the global standard for airline operational safety and to incorporate IOSA into their own safety regulatory oversight programs.

It also called for airlines not yet on the IOSA registry to join. Currently, some 417 operators are on the IOSA registry, of which 107 are non-IATA members.

IOSA was launched in September 2003 with Qatar Airways as the first airline to be audited and join the IOSA Registry.

The Rector of the Nigerian College of Aviation Technology (NCAT), Zaria, Captain Alkali Modibbo, has said airlines will save foreign exchange if they decide to train their pilots at the local training facilities in the college.

Modibbo also said the pilots would save Nigerian airlines the cost of logistics and delays that could be encountered while waiting for training slot overseas.

Pilots are supposed to go for recurrent training every six months and most Nigerian pilots carry out this training overseas at huge cost to the airlines.

Modibbo said it was to save Nigeria carriers the highly sought after foreign exchange that prompted the federal government to acquire and install Boeing B737 stimulator at the College. He disclosed that although the equipment has been installed but it is waiting for certification from authorised civil aviation agency before it would be put into use.

The Rector also hinted that the College may acquire more simulators for other aircraft types in order to attract pilots type rated in those aircraft, as Nigerian carriers are recently embracing Embraer and Airbus aircraft.

Modibbo who spoke about the installed Boeing B737 simulator, said: “The federal government wanted to retain the foreign exchange in the country, which is a very good thoughts and decision. So, the simulator was purchased and brought to Nigeria. The only place you can put a simulator is an institution and NCAT is the only federal government-owned school and this simulator was purchased by the federal government.”

According to him, there is no flying school in Lagos that is owned by the federal government, adding that the containers containing all the platforms for the aircraft, arrived during the Covid-19 pandemic and despite that, they were able to assembly the simulator aircraft. By the time they finished the fixing the simulator, the certification that the simulator came with from America, had expired, a month after its installation was completed.

Modibbo said immediately after the certification of the simulator, the College would start receiving pilots for recurrent training and assured that the simulator would be put into use before the end of 2023.

The NCAT Rector said that in relation to training ab initio for Private Pilot Licence (PPL) that the school has enough aircraft for that, disclosing that the school has many single and twin-engine aircraft purchased for the training of pilots in the college.

“In fact, we have more than 20 airplanes at the moment used for training. We have 15 TB 9 and five TB 20s. The past regime went into an agreement with Diamond Aircraft Manufacturers. They were going to buy us 20 more airplanes, which is the Diamond type. We have received nine of such airplanes now and we have additional 11 aircraft to go. We presently have two multi-engines, which is Diamond 42 and seven Diamond 40s. The 40s are single engines. With that we have enough airplanes that can be used to train pilots,” Modibbo said.

He added that the major challenge the school is facing currently was paucity of instructors because many of the school’s instructors have left for bigger jobs both locally and overseas.

“The challenge we have now is that we have inadequate instructors because some of them have secured jobs elsewhere. So, the airplanes would be there, but we don’t have enough instructors to handle the training. This is so because of our remuneration. The college is a Federal Government institutions and we are paid through the Integrated Payroll and Personnel Information System (IPPIS) and the salaries for IPPSS is a government policy, which you can’t unilaterally change. If the Federal Government is not ready to increase salary, there is nothing you can do on your own, but we are trying to see if we can increase allowances for our technical staff, especially the flying instructors, engineering instructors, the air traffic services and control so that we could retain them.

“We have lost more than 20 technical staff in the last five years to other greener pastures. When your salaries and allowances don’t measure up with the other colleagues, then people start to look for better places that they can go.We need more technical staff to train our students. The Nigerian Airspace Management Agency (NAMA) is suffering the same pain as we are experiencing. According to the International Civil Aviation Organisation (ICAO), NAMA is below standards with the air traffic controllers. So, NAMA comes and grabs our air traffic controllers. They air traffic controllers run to NAMA because the salaries and allowances are four times better than what we can offer here,” Modibbo said.

To stop NAMA from recruiting its personnel, he disclosed that the Ministry of Aviation plans to intervene, but expressed the hope that if the College improves on its welfare to workers, they will have incentive to stay and work for the school.

“The Ministry is trying to come in for NAMA and NCAT to ensure that these things are resolved so that they will stop poaching our instructors. The only thing we can do is to first adjust our allowances and salaries. If we do that then we can seek permission to recruit technical staff and instructors, but we have some instructors undergoing training on piloting at the moment. In a year or two, we will be happy with what we have, but we need instructors in the areas of air traffic control service,” he said.

Reiterating the need to have more simulators for pilot training, Modibbo suggested that government should adopt public, private partnership (PPP) in funding and acquisition of more simulators to the school.

“There is need to have some private institutions that we can partner with on simulator equipment training, because there is no way NCAT can buy simulator equipment all over Nigeria. We don’t have the resources to do so. No single investor is ready to spend his money on simulator, but I want to assure you that simulator is the best way to make money without risk because you don’t buy fuel, you don’t check batteries and it doesn’t crash. You only service and maintain the equipment and you make your money,” the Rector said.

Chinedu Eze
24
BUSINESSWORLD AIR WATCH
FRIDAY, SEPTEMBER 22, 2023 THISDAY

National Reconciliation and Integration

Prof. Babatunde Bolaji Bernard

Nigeria, na my country, I must to do better for am.

Fellow Nigerians, my ability fails me on how to gather in one room the elders of this country to whisper into their ears how to emancipate this country from the shackles she created.

It’s high time our fathers stopped playing the ostrich, they must bring out their heads from the sand and save our country. One of them wrote a letter to the youths, stating that they should not carry on the sentiments of their fathers, Oh!, so there are sentiments still lurking around, I thought they didn’t know.

The newspaper is too shallow a platform to ward off such huge, deep seethed sentiments. People were hurt and killed, livelihoods of some destroyed forever when their bread winners were taken. These hurts are still too fresh in the minds of everyone. It will go on forever, if we don’t come to a round table and discuss them, THEY WILL DESTROY US IN NO

DISTANT TIME. THE TIME TO BE WISE IS NOW.

The fathers of today must not leave this earth without reconciling Nigerians. Why must the children continue to suffer for the mistakes of their fathers? This bad blood must be cleansed to allow Nigeria move forward. We are not the only country that has fought civil war(s), the difference is that when most come out of it, they reconcile, forgive each other and prosperity becomes inevitable. Rwanda is a good. Look at South Korea, Japan, Vietnam, India etc.

On the other hand, breaking away always leaves the new countries in shambles, fighting never ends, Sudan, a country with the largest land mass in Africa is now a shadow of its old self as fighting continues. Tell me if another Biafra happens in Nigeria today, which Igbo man go gree make another one be the ruler? Remember in the near past when Senate Presidency became a 400 metre relay race by the Igbo. Urhobo and Itsekiri have lost so

much due to wars between them. It was only after reconciliation that they began to reap the benefits of the natural resources in their state. Ukraine was created out of former USSR, the knife was blunt and so the complications have resulted to modern warfare, where killing of the innocent has become a daily occurrence.

Divisions happen even at the nuclear family level, so it is not an alternative. In the eyes of the global North, divisions into smaller units make it easy for the taken. Nigeria has been contested for at several levels. It is the same diversity that has made us a hard bone to crack Many Nigerians only heard from their immediate families the betrayers of the coups, counter coups and the civil war, but the prejudice is great and almost cemented in their hearts. It is expected, but it must be dissolved now.

For Nigeria to advance, there must be national reconciliation and reintegration, so that we can all speak with one voice. It

is only then, can we redistribute the national wealth accordingly.

At the moment, every region that climbs into power, or any one elected or appointed first considers the people of his region before others. This informed the pronouncement of the President, a truly diffused Nigerian to warn the ministers during the swearing-in that they are not ministers of a region nor a community but of the Federal Republic of Nigeria. So anyone and everyone has the right to their service.

I encourage President Bola Ahmed Tinubu to push further his efforts to selflessly serve Nigerians to set up a National Reconciliatory Council of Nigeria (NRCN), headed by one of the elderstates men no matter how old, to fish out the sentiments still dividing and destroying us, with a clear vision for a national reconciliation and reintegration. There is nothing wrong with taking some excerpts from Rwanda, NIGERIA MUST DEVELOPE.

Watch out for this column on National reconciliation and Integration

Much Ado about ICAO’s Audit of Nigeria

Despite the fact that Nigeria passed the International Civil Aviation

Continuous Monitoring Approach, industry experts posit that the country

all areas, considering its past achievements and high safety records, writes

It was a mixed grill among industry stakeholders on Monday this week, when the summary of the report of the International Civil Aviation Organisation (ICAO) Universal Safety Audit Program Continuous Monitoring Approach (USOAP)CMA was made public.

Curious industry observers literally burrowed through the report and fastidiously scrutinised every information contained in the report.

The summary was that Nigeria scored 70 per cent overall in the audit, which lasted for 12 days, as the ICAO team rigorously examined all the critical areas important for air safety in the country.

The objective of ICAO Universal Safety Audit Program Continuous Monitoring Approach (USOAP) is to promote global aviation safety by enhancing contracting states’ safety oversight capabilities, through continuous monitoring of states’ safety performances in order to identify safety deficiencies, assess associated safety risks, implement strategies for their mitigation and re-evaluate states’ safety oversight capabilities achieved.

Nigeria as member state passed its ICAO audit in 2006 and since then has continued to do well in keeping with ICAO Standards and Recommended Practices (SARPS).

ICAO ASSESSMENT

The audit that ended on September 11, 2023 involved the inspection, monitoring, review of the regulatory standards that guide the activities of the critical aviation agencies in line with ICAO recommended standards and practices.

The 70 per cent score is 3 per cent higher than the last audit, which was carried out in 2016 where the nation scored 67.1 per cent, a good development following the nation’s safety compliance.

The audit focused on Nigeria’s capability in providing safety oversight by assessing whether the State has implemented the critical elements (CEs) of a safety oversight system effectively and consistently. There are eight critical elements which include primary aviation legislation, specific operating regulations, state civil aviation system and safety oversight functions, technical personnel qualification and training, technical guidance, tools, and the provision of safety critical information, licencing, certification, authorization and approval obligations, surveillance obligations and resolution of safety concerns.

ICAO also emphasises on the importance of safety risk management, safety management

system obligations, accident and incident investigation, hazard identification and risk assessment and management of safety risks.

NCAA The Nigeria Civil Aviation Authority (NCAA) who represents the Nigerian state is the focus of the audit. According to ICAO, the audit enables the state to ensure the implementation of ICAO’s safety-related Standards and Recommended Practices (SARPs) and associated procedures and guidance material and also provides ICAO with a means to monitor continuously the States’ fulfillment of their safety oversight obligations.

Breakdowns of some of the audit reports shows the CAA in Legislation scored 90 pr cent, a reduction from the 95 per cent it scored in the last audit while it scored 83 per cent in Organisation compared to its 100 per cent score last time around.

Personnel Licencing NCAA scored 84 per cent while it scored 62 per cent in operations compared to its last score of 57 per cent.

For Airworthiness, the NCAA scored 94 per cent compared to its previous 90 per cent in the last audit while the audit for Accident Investigation got 89 per cent, five points up from its previous 84 per cent score.

In the area of Aerodrome and Ground Aids the country scored 56 per cent while for Air Navigation Services it scored 44

per cent.

The audit final report was produced by the Safety and Air Navigation Oversight Audit Section (OAS) after reviewing and incorporating Nigeria comments to the draft audit report; it submitted to Chief, OAS and Deputy Director, Monitoring and Oversight (MO), for approval; sent to Nigeria according to the timeline defined in the Memorandum of Understanding; and published on the USOAP CMA Online Framework (OLF).

EVALUATION

Although the score was good, industry insiders said that Nigeria could do better, as ICAO listed State Corrective Action Plans (CAPs). It advised that upon receipt of draft report, State may start to prepare the Corrective Action Plans, but to upload them onto the OLF (Online Framework only after receipt of final report.

“All points of findings are addressed, including associated implementation; CAPs include sufficient details to enable effective resolution of findings.

ICAO also stated that Appropriate Action Office is identified in the CAPs; and Realistic Estimated Date of Implementation is provided for all actions (short-, medium- and long-term). In other words, the gaps found in the audit ought to be corrected by the state (NCAA) and those gaps have been identified and realistic time for

the implementation of the gaps provided in the short term, medium term and long term, creating enough time NCAA to fully close the gaps.

IDENTIFIED WEAKNESSES

Many industry stakeholders are not happy that Nigeria scored 44 per cent in Air Navigation Services, which it scored 49 per cent in the last audit; 56 per cent in Aerodrome and Ground Aids, although it scored 48 per cent in the last audit and also in Operations where it scored 62 per cent, which is an improvement from 51 per cent it scored in the last audit. Many industry experts say that in aviation standards these are low marks; so, Nigeria has to do everything possible to improve in those areas as quickly as possible.

Overall, industry experts posit that in some areas like the Nigeria Airspace Management Agency (NAMA) procedures are not good, the agency’s operations lack adequate technical personnel and in the Federal Airports Authority of Nigeria, the airports are not certified. FAAN could not sustain the progress it made, which led to the certification of the Abuja and Lagos airports in 2017.

OBSERVATIONS

The Managing Director and CEO of Aero Contractors, Captain Ado Sanusi, told THISDAY that overall the result of the audit was good, but it should not be described as wonderful because Nigeria could do more than that and has the capacity to do more than that. He noted that Nigeria had guided some countries in Africa in preparation of ICAO audit and one of those countries scored 80 per cent, which is more than what Nigeria scored, which he said it is a situation where the student scored more than the teacher.

Sanusi noted that NCAA is focused on many things and there is a lot of distraction in the process because its autonomy has been eroded. He said although the result of the audit showed high scores in some areas because it also has low scores and it is said that a chain is as strong as its weakest link.

25 The story continues online on www.thisdaylive.com THISDAY FRIDAY, SEPTEMBER 22, 2023 BUSINESSWORLD AVIATION
Organisation Universal Safety Audit Program
ought to scored more than 70 per cent in
Chinedu Eze

Adeniyi’s Revolution at Nigeria Customs

On July 18 this year, President Bola Tinubu approved the appointment of DCG Bashir Adewale Adeniyi as the Ag. Comptroller General of the Nigeria Customs Service (NCS). Adeniyi’s appointment was seen as a major move by the president to resuscitate the service after several years of inept leadership. Several stakeholders including serving and retired officers of the NCS have applauded the appointment stressing that the president’s famed eye for talent has once again be proven beyond reasonable doubt. While it is rare for service or retired customs officers to comment appointments, Adeniyi’s case has been different, a reflection of his pedigree and years of unblemished service to his country. First to applaud the appointment was a retired Deputy Comptroller General of the NCS, Senator Francis Fadahunsi, who described the nomination as a right step in the right direction.

For readers who don’t know, Adeniyi possesses over 30 years experience in Customs administration covering strategic and operational responsibilities. He posses deep understanding of the complex and constantly evolving international trade landscape. He has strong command of customs regulations, laws, and procedures as well as the ability to navigate and adapt to changing policies and regulations. He has demonstrated excellent communication and leadership skills responsible for leading teams of customs officials, working closely with stakeholders across a variety of industries. Over the course of his career, Adeniyi built strong relationships with stakeholders and collaborated effectively to ensure efficient and effective movement of goods across borders. Senior customs officer told this reporter that he has a keen eye for details and ability to identify potential risks and areas of non-compliance. This is evident in effective risk management strategies, guidance and support developed and implemented for his teams to ensure that all customs procedures are followed accurately and efficiently.

He replaced a retired Army colonel, Hameed Ibrahim Ali, who was responsible for the overall management and direction of the service in the last eight years.

Adeniyi has so far lived up to expectation.

During his maiden press conference in Abuja, he read the riot act to economic saboteurs, insisting that the service cannot afford to allow them to take over the economy.

Addressing journalists shortly after the opening of the two-day sensitisation and management retreat on the Nigeria Customs Service Act (NCSA) 2023, he said the service was paying close attention to cases of smuggling across the borders, adding that the issue of fuel remained highly sensitive.

Adeniyi further revealed that as part of the critical first steps of his administration, the service will review procedures and processes in the ports and border areas as well as boost its enforcement strategies going forward.

“We are going to review all of that and we want to do them in such a way that they promote user-friendliness, economic growth without compromising our national security,” he said.

He said the service intended to tighten the noose around economic saboteurs by strengthening the punitive instrument to serve as a deterrent.

He said, “We discovered that the previous legislation did not provide sanctions that are punitive enough for violations of customs laws. Some of the fines were ridiculous – remember that this piece of legislation was put in place in 1958. You won’t believe that in some parts of the legislation – some fines were written in pennies. And when you translate them, they mean nothing.

“So, criminals are always willing to commit fraud because they know they are going to get a slap on the wrist. What this law has brought are very heavy punitive sanctions that should deter people from committing those violations against the customs law.”

Speaking further on the new legal regime, he said the service has been statutorily empowered to among other things administer and enforce the provisions of the Act; collect and account for revenue from customs and excise; promote trade facilitation; prevent smuggling activities and carryout border enforcement; and do such other things as are necessary for or incidental to the performance of the function and duties of the Service under the Act.

He noted that as a responsible institution, the service is not unmindful of the fact that the members of the public are not yet familiar with the provisions of the new legislation, particularly the new procedure, processes, and the stiff punitive provisions in the law.

He said, “We are equally appreciative of the urgent need to sensitize the public on the

provisions of this law to prevent the excuse of ignorance of the law, which is not a defense. The service will continue to sensitise and educate the public on the provisions of the law and customs procedure and processes.

“Our effort is providing policies statutorily implanted, which invigorates the objectives of keeping our boarders safe and making avenues of leaked revenue accountability lean, hence this institution shall in the shortest period reap the dividends of this legal framework that gear up the ease of doing business in Nigeria, “he said.

STRIKE FORCE DISBANDED

As part of his effort to sanitise the service, the acting Comptroller-General of Customs, disbanded the CGC’s Strike Force Teams.

The customs boss also directed the Federal Operations Units to take over all their responsibilities across the federation henceforth.

A statement issued by the Customs Public Relations Officer, Chief Superintendent of Customs, Abdullahi Maiwada, said the move was aimed at promoting best practices and enhancing trade facilitation.

Maiwada, said the development was in tandem with Adeniyi’s vision of ensuring result-oriented anti-smuggling strategies while facilitating legitimate trade.

He said the acting Customs CG has, therefore, given the marching order to Federal Operations Units and other anti-smuggling formations to use all the instruments of law available to discharge their duties.

Adeniyi, further directed strict adherence to the enshrined Standard Operating Procedure (SOP) and rules of engagement while dealing decisively with economic saboteurs.

Also, to ensure transparency and accountability, all anti-smuggling formations were mandated to boldly ascribe their names on all operational vehicles to checkmate the possibility of excesses, misconduct, and human rights abuse.

Adeniyi, had in his maiden address, stated unequivocally that all cumbrances and other obstacles to trade facilitation would be dismantled while fostering a new culture of consultation and compliance.

He read the riot act to economic saboteurs, insisting that the service cannot afford to allow them to take over the economy.

He said the service was paying close attention to cases of smuggling across the borders, adding that the issue of fuel remained highly sensitive.

ACGS APPOINTMENT

In yet another move to enhance the service, Adeniyi has made key appointments and redeployment within the service to ensure operational efficiency.

This followed the statutory retirement of some management members of the service.

Comptrollers Florence Nanu, Ogar Modey and Queen Ogbudu were therefore, appointed acting Assistant Comptroller Generals Training, Doctrine Command (TRADOC) and Zonal Coordinator Zone

B, respectively.

Adeniyi also Okayed the redeployment of Comptroller Jaiyeoba Jide from Oyo/Osun Area Command to Apapa Area Command; Comptroller Dera Nnadi from Seme to TinCan Island Port, Comptroller Timi Bomodi from KLT to Seme, and Comptroller Ahmed Abe from PCA Zone ‘C’ to Kaduna Area Command.

Others include Comptroller Babandede Mohammad who was moved from Lilypond Export to Lagos Free Trade Zone Command; Comptroller Dauda Ibrahim Chana from Investigation Headquarters to Kano/Jigawa Area Command, as well as Comptroller Martina Tilleygyado from Non Intrusive Inspection to KLT Area Command.

Others are Comptroller Oloyode Adekunle from TinCan Island Port to Import and Export Headquarters while Comptroller Zanna Chiroma will be leaving Import and Export for PCA Zone ‘C, among many others

Adeniyi congratulated the affected officers and charged them to put more effort into achieving the service’s core mandates of revenue generation, suppression of smuggling, and trade facilitation. Separately, reiterated his commitment protecting the lives and properties of Nigerians - through enhanced capacity building for officers of the service.

During a courtesy visit by the Commandant of the National Institute for Security Studies (NISS), Ayodele Adeleke, who led members of the institute to customs headquarters in Abuja said, “There’s a need to join hands in intensifying the probity of officers and men of the Service, emphasizing that maintaining security level in Nigeria is a collaborative effort.”

The story continues online on www.thisdaylive.com

26 BUSINESSWORLD MARITIME FRIDAY, SEPTEMBER 22, 2023 THISDAY
Adeniyi
Eromosele Abiodun posits that the Ag. Comptroller General of the Nigeria Customs Service, Adewale Adeniyi’s strong command of customs regulations, laws, and procedures as well as the ability to navigate and adapt to changing policies, has played a major role in his transformation of the service
This Weekend FRIDAY, SEPTEMBER 22, 2023 WEEKLY MAGAZINE Group Features Editor: CHIEMELIE EZEOBI chiemelie.ezeobi@thisdaylive.com 07010510430 SE PT EM BE R 2 2 2 02 3 SEPTEMBE 2, 2023 Shaping the Future of Africa through the Tony Elumelu Foundation

Shaping the Future of Africa through the Tony Elumelu Foundation

When the Tony Elumelu Foundation, TEF, was set up in 2010, its objective was to empower women and men across the African continent, catalysing economic growth, driving poverty eradication and ensuring job creation. Chiemelie Ezeobi writes that 13 years down the line, the foundation has blossomed to become the leading champion of entrepreneurship in Africa. Recently at the sidelines of the 78th United Nations General Assembly in New York, TEF alongside partners like United Nations Development Programme, UNICEF Generation Unlimited and IKEA Foundation held a roundtable to chart the way forward for a more prosperous continent and its teeming entrepreneurial youth population

Tag the Tony Elumelu Foundation (TEF) as the ‘leading philanthropy in Africa’ and you won’t be wrong. And all these is because of one man, who has picked up the gauntlet in championing the cause of the youth by empowering them with the right mix of mentorship, training and even seed capital.

Founded by Nigerian economist, and philanthropist, Tony Elumelu, who also chairs Heirs Holdings and Transcorp, the foundation believes the private sector is critical for Africa’s development by creating social and economic wealth.

With strong belief in African entrepreneurship, TEF built an infrastructure that supports entrepreneurial talents across the continent and since its set up in 2010, the foundation has blossomed to become the leading champion of entrepreneurship in Africa with the objective to “empower women and men across our continent, catalysing economic growth, driving poverty eradication and ensuring job creation”.

In 2015, Elumelu and his family launched their flagship program, the Tony Elumelu Foundation Entrepreneurship programme with a $100 million commitment.

Already, the foundation has supported over a million African youths by empowering them through programmes aimed at eradicating poverty, illiteracy, high density of migration for greener pasture, and hunger among other salient issues affecting the growth of Africa.

ROUNDTABLE

Recently, at the sidelines of the ongoing 78th United Nations General Assembly (UNGA) in New York, TEF alongside the United Nations Children’s Emergency Fund (UNICEF) Generation Unlimited (GENU), United Nations Development Programme (UNDP) and IKEA Foundation held a breakfast roundtable.

At the event, President Bola Tinubu, who was represented by the Minister for Trade and Industry, Doris Uzoka-Anite, said Tony Elumelu has been the major person driving investments in supporting the youths and start-ups, thus we need to challenge ourselves a bit more further as Africans and stop looking for international organisations for donor funding.

In his speech, Founder TEF, Tony Elumelu said this highlights the significant contribution of the TEF’s flagship 100 million dollars Entrepreneurship Programme in advancing Africa’s socio-economic development.

He noted that 13 years ago, the foundation took a bold step to rewrite and change Africa by enhancing entrepreneurship development to galvanise African solutions.

Stressing on the seed capital, training and mentoring and networking provided by TEF, he added “we have lit a beacon, and we need the beacon to shine brighter and better. To do this, we need the support and collaboration of everyone.

“100 million dollars is a drop of water in the ocean compared to what we need in Africa. Young Africans need economic support. We’ve seen the devastating effect of climate change, how our young ones due to hopelessness are migrating and living in difficult situations. We want to put a stop to that.”

To achieve that, Elumelu called for collaboration to prioritise young Africans, bring more women to economic activities and alleviate poverty, adding that “poverty anywhere is a threat to all of us everywhere”.

Also speaking, Ahunna Eziakonwa, Assistant Administrator and Regional Director for Africa (UNDP) said they partnered TEF due to similar belief in galvanising development across Africa and globally, adding that Africa’s wealth was its population, which constitutes 70 per cent of young, vibrant and innovative Africans.

“It is our loss if we don’t invest in them because that is the future of prosperity,” she said, just as she called for enhanced collaboration and investment to strengthen economic development of African youths.”

Earlier on, TEF Chief Executive Officer (CEO) Somachi Chris-Asoluka, said the organisation is the partner of choice for all development agencies across the world who want to transform the way they give to Africa, who want to have a more catalytic, impactful partnership with the African continent.

She said: “The Tony Elumelu foundation is a leading philanthropy in Africa empowering young African entrepreneurs from all 54 African countries. We launched our flagship program, the Tony Elumelu foundation Entrepreneurship programme in 2015 with a $100 million commitment by Mr Elumelu and his family.

“His goal was to see 10,000 African entrepreneurs over 10 years, in only eight years, we have more than surpassed that target so date. We have funded 18,000 entrepreneurs, disbursing over a 100 million dollars directly as seed capital to these entrepreneurs and they have gone on to create over 400 thousand jobs across all African countries.”

Amongst other personalities present were Director for Africa, National Security Council, Deniece Laurent-Mantey; Travis Atkins, President USADF, an independent U.S. government agency established by Congress to invest directly in African grassroots enterprises and social entrepreneurs; Oliver Alawuba CEO of the United Bank for Africa; Executive

Director for International Banking, and the CEO of UBA America, Sola Yomi-Ajayi; Managing Director and Chief Executive Officer of Transcorp Hotels plc, Modupe Olusola; Linus Idahosa, Founder DelYork Group; and Nollywood actress and director, Omoni Oboli.

COMMENDATIONS

At the roundtable, commendations poured in torrents for the foundation and its chief driver. President Tinubu led the flurry when he commended Elumelu for the impact his foundation has had on young people and SMEs in the country and beyond since 2010.

Also speaking, Governor Babajide Sanwo-Olu of Lagos State, said: Listening to the great work that Tony Elumelu has done, especially with partners, resonates with me. As the governor in the largest African economy with the largest youth population, I know the importance of inclusive empowerment.”

Per Heggenes, CEO IKEA Foundation, also expressed happiness at the chance to work with the TEF and GenU, to “collaborate with entrepreneurs in sub Saharan Africa to help create their own opportunities”.

While thanking Elumelu for the partnership, Kevin Frey, CEO GenUnlimited, said it has continued to drive them forward on entrepreneurship and it was amazing that they have achieved so much already.

Other important guests include Microsoft EVP and President, National Transformation Partnerships, JP Courtois, who also lent support to empowering more young African entrepreneurs to shape the future and deliver the UN #SDGs.

Alexia Latortue, assistant Secretary of the Treasury for International Trade and Development, USA, who said he is so inspired by the TEF entrepreneurs, said “ we need to create education that matters; local green solutions to local problems; and Credit”, adding that “if we are to reach the SDGs, we need Africa. If we are to reach the SDGs, we need the youth”.

GAME-CHANGING INITIATIVES

At the roundtable, TEF announced two game-changing initiatives. First was The Tony Elumelu Foundation Impact Report: “A Decade of Impact”, which revealed how Elumelu’s $100 million commitment ignited socio-economic transformation across Africa. From eradicating poverty to creating jobs in all 54 African countries, the Tony Elumelu Foundation is fostering inclusive economic empowerment and nurturing the next generation of business leaders.

The second initiative was the BeGreenAfrica, where TEF joined hands with UNICEF Generation Unlimited and IKEA Foundation to launch #BeGreenAfrica, a groundbreaking Green Entrepreneurship Programme. The goal being to equip African youth to combat climate change, biodiversity loss, and resource scarcity while creating sustainable job opportunities. Already, applications are ongoing and will be

open until September 30, 2023.

A DECADE OF IMPACT UNVEILED

In unveiling its Decade of Impact in the TEF Impact Report for 2022, Fatou Assah, TEF Advisory Board Member, said in its 13 years of empowering young African Entrepreneurs across all 54 African nations, TEF has trained 1.5million entrepreneurs, over 18, 000 beneficiaries as disbursed 100 million dollars seed capital with 400,000 jobs created (with 58 per cent created by female-owned businesses).

Also, TEF funded businesses generated 2.3 billion dollars in revere since 2015 while the beneficiaries annual profits were on average of over 22X (the average annual income per capita in their corresponding countries).

Over 25 per cent of TEF beneficiaries have acquired additional investments in their business since receiving TEF Seed Capital and women employment rate has risen from 24 per cent to 52 per cent given that the program has empowered over 7,183 women with 85 per cent of these women single handedly leading their businesses.

When it comes to its contribution to environmental sustainability, 83 per cent of the beneficiaries are contributing to the minimisation of carbon footprints while 91 per cent of beneficiaries are contributing to waste minimisation and the use of natural product and sustainable materials, just as 69 per cent of beneficiaries are contributing to safer energy sources.

Essentially, TEF is also 100 per cent contributing to SDG 8 decent work and economic growth; SDG 2 on quality education with 76 per cent tackling Zero Hunger.

STRATEGIC PARTNERSHIPS

Essentially, the value of the TEF’s entrepreneurship drive lies in strategic partnerships with leading development institutions, including the European Union (EU), United Nations Development Programme (UNDP), International Committee of the Red Cross, United States Government via USADF; Organisation of African, Caribbean and Pacific States (OACPS), French Development Agency (AFD), German Development Finance Institution (DEG), German Agency for International Cooperation (GIZ), African Development Bank (AfDB), and Google, among others.

COALITION FOR AFRICAN ENTREPRENEURS

In its pledge, TEF said they will build on these successes and its robust delivery process and deepen its commitment to reach across sectors and geographies to identify and support young African entrepreneurs, targeting female empowerment and growth in fragile states, through its soon-to- be-launched Coalition for African Entrepreneurs.

In essence, the coalition aims to catalyse a further 100,000 young African entrepreneurs and small businesses, focussing on fragile states, women entrepreneurs, and green entrepreneurship. The Coalition is open to development agencies, the global private sector, philanthropic organisations, and governments to collaborate in empowering Africa’s next generation, particularly in the green economy.

COVER THISDAY 28
L-R: Tony Elumelu, founder Tony Elumelu Foundation (TEF) flanked by Lagos State Governor, Babajide Sanwo-Olu; Jean Phillipe Cou rtois, EVP, Microsoft; Kevin Frey, CEO, Generation Unlimited; Alexia La Tortue, Assistant Secretary of the Treasury; Per Heggenes, CEO, Ikea Foundation; Jessica Andere n, incoming CEO, Ikea Foundation; Ahunna Eziakonwa, Assistant Secretary General and Director of UNDP’s Regional Bureau for Africa; and Uzziel Ndagije Imana, Minister of Finance and Economic Planning, Rwanda at the TEF roundtable in UBA House, New York TEF CEO, Somachi

Okonjo-Iweala Applauds Entrepreneurship Village on Silicon Projects in Africa

The Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala has commended the Entrepreneurship Village Silicon Valley initiative showcased to the world at the Public forum of WTO held September 12 to 15 2023 in Geneva, Switzerland.

In a press release made available to THISDAY, Okonjo-Iweala expressed delight over the Silicon Valley project currently being built in Nigeria, while she acknowledged and applauded the Executive Governor of Ondo State, Oluwarotimi Akeredolu for attracting such an impactfocused project to his state.

Describing digital trade as the future, she said, “Digitally delivered service is the fastest growing segment of trade growing at eight per cent per year, faster than growth in goods trade and even service trade.

“I think we are going to see continuous growth in the sector. It is worth about four trillion now out of 31 trillion in total trade that is worth in shipping and we need to support that because it does help SMEs and women.”

The Director-General noted that reaping the opportunities of digital trade requires an adequate ecosystem, starting with good connectivity and encompassing other elements,

such as sufficient skills, logistics and payments systems, and an enabling policy framework.

Okonjo-Iweala said climate change has the potential to shift comparative advantages and change the pattern of trade, particularly in sectors like agriculture.

The DG of the WTO commended the initiative and the organisation, she also applauded the Governor of Ondo State,

Oluwarotimi Akeredolu for attracting such an impact-focused project to his state.

In her speech, she spoke about the impact of climate change on global trade and also about digital trade being the fastestgrowing trade and the world as it helps both MSMEs and women.

On his part, the President of Africa’s Young Entrepreneurs (A.Y.E), Dr. Summy Smart Francis during his remark ap-

AKWA IBOM CLERGY FORUM HOLDS INAUGURAL INDUCTION, AWARD CEREMONY

preciated the WTO leadership and the entire team for allowing A.Y.E to showcase the Entrepreneurship Village project to the world.

He noted that the project’s overarching goal is to create an environment where entrepreneurs can learn, grow, and thrive. The project aims to produce resilient and successful entrepreneurs who will play a key role in eradicating poverty, creating jobs, driving economic development, and addressing the many challenges facing Africa.

Explaining the Entrepreneurship Village project as a creative, innovative, technology and business green campus that provides a complete ecosystem for businesses, MSMEs and startups, Francis said it aims to create an enabling environment for learning, leadership, lifestyle, and legacy.

“The primary objectives of the Entrepreneurship Village also align with the United Nations Sustainable Development Goals and the African Union Agenda 2063. This alignment involves developing human capital, fostering innovation and technology, promoting community development, creating employment, eradicating poverty, and nurturing entrepreneurship. Importantly, it places a special focus on empowering women, persons with disabilities and the fast-growing youth”, he added.

Recycling Alliance, Lagos State Government Host ‘Trash Talk’ Workshop

The Food and Beverage Recycling Alliance, FBRA, partnered with the Lagos State Government to deliver the ‘Trash Talk’ summit, addressing packaging waste pollution in Lagos State.

The event, which held at the Lagos Marriott Hotel Ikeja, last week Friday and Saturday and which was tagged the ‘Trash Talk’, workshop engaged stakeholders across the packaging and bottling industries, government agencies, and the recycling alliance to enforce acollectiveresponsibilityforpackaging waste pollution in the state, by reviewing Lagos’ current recycling position and defining next steps to promote a cleaner Lagos.

Under the theme “Beating PackagingWastePollutioninLagos

By 2025,” the summit featured a range of educational sessions and speaking engagements led by representatives from the private and publicsectors,suchasZiadMaalouf, Chairman, FBRA; Mr. Babatunde Irukera, Executive Vice Chairman of the Federal Competition and Consumer Protection Commission, FCCPC; Dr.Dolapo Fasawe, former General Manager, Lagos State Environmental Protection Agency,LASEPA,andClemUgorji.

During the event, participants established that public-private

participation, alongside proper investment and policy incentives, were critical foundations in pushing adoption and compliance with recycling standards, across the industry. Key points from the workshop highlighted that producers, corporate users, and consumers, all play a pivotal role in shifting Nigeria’s recycling and waste management culture.

To catalyze change and ensure thesuccessofacleanerLagos,FBRA charged the private sector to push the needle on their sustainability practices and align on industry frameworks around waste management. Speaking at the event

“Partnering the government for this recycling workshop is a testament to our shared commitment to a sustainable future with reduced packaging waste pollution,” said FBRA’s Chairman, Ziad Maalouf.

“We are truly excited about the opportunity to collaborate, learn, and continuously inspire change together within the state of Lagos, and Nigeria as a whole.

“ Our goal to beat packaging waste pollution in Lagos by 2025 is one that resonates with our stakeholdersandpartners.Asacollective, we believe our enthusiasm can be spun into action, as we pave the wayforagreener,cleaner,andmore

eco-conscious Nigeria.”

“Keep Lagos Clean’ has been a consistent mantra for our organisation across the years, and our efforts to promote a community around environmental responsibility in Lagosaligndeeplywiththevisionand dedicationofouresteemedpartners at FBRA.” says Dr. Dolapo Fasawe, former GM at LASEPA.

“The Lagos State Government is working with the FBRAto encourage private-sector participation in packaging waste management within Lagos. In order to mirror the progress made in countries like Indonesia and Rwanda on waste management, we co-facilitated the Trash Talk workshop to further uncover our collective roles in facilitating our sustainable development, and address the barriers that hinder the adoption of recycling practices amongst communities.

Commenting further on the goals of the Trash Talk Workshop, Executive Vice Chairman of the FederalCompetitionandConsumer Protection Commission (FCCPC), Mr Babatunde Irukera, noted that, “Sustainabilityisthemostimportant conversation there is today globally, and it’s about whether this world willbehabitableforusoveraperiod of time.

“There’s a need for concerted ac-

tionamongstallstakeholderswhose businesses affect the environment inonewayoranother-thisincludes regulators,government,civilsociety, financers, the private sector, and all others.”

Participating organisations include the Food and Beverage Recycling Agency (FBRA), Bank of Industry, UNIDO, Sevenup Bottling Co, Lagos State EnvironmentalProtectionAgency(LASEPA), Lagos Business School, National Environmental Standards and Regulations Enforcement Agency (NESREA),CentralBankofNigeria, World Bank, Zenith Bank, , Nestle, NigerianBottlingCompany(NBC), NigerianBreweries,NigeriaNational PlasticAction Partnership (NPAP), ATUNLO,LagosRecyclersAssociation, Reswaye, We Cyclers, Insight Redefini,DowChemicals,FrigoGlass, Indorama, Prima, Marble Capital, SRADev, AFBTE, Chi, Coca Cola Nigeria,Mondelez,TolaramGroup, Alef, Alkem, Insight Publicis, Flex Films Africa, Lafarge, Poly Smart, Sonnex, PWC, FCCPC, Federal Ministry of Environment, , Lagos StateParksandGardens(LASPARK), Lagos State Waste Management Authority (LAWMA), Quadrant MSL, Embassy of Netherlands, Embassy of Taiwan,ACEN, GPAP, USAID and the academia.

The Akwa Ibom Clergy Forum (AICLEF) recently held its inaugural induction of members, seminar and award ceremony in Lagos during which ministers in the body of Christ were admonished to continue to uphold the gospel of Christ which is centred on love for one another, perseverance, commitment exemplary leadership and togetherness in the body of Christ.

They were also admonished to keep propagating the words so that they would not be found wanting on the last day. This admonition was handed down by the President ofAICLEF, Pastor Emmanuel Joseph. The event held at the United Evangelical Church ( Qua Iboe Church) auditorium, Surulere, had in attendance Superintending Officers of various Christian Denominations and Heads of Religious Institutions as well as Christian faithful from within and outside Lagos.

With the theme, “The Value Of Leadership Structure In The Administration Of Pentecostal Churches In Nigeria”, the AICLEF President said the topic was very apt because some Pentecostal church founders and leaders often apportion many responsibilities to themselves both in the physical and spiritual administration of their different Denominations to the detriment of their health and growth of the ministry.

The guest speaker, His Eminence Dr. Emmanuel Josiah Udofiah who did justice to the theme advised ministers in the body of Christ and Heads of Christian Organisations to endeavour to decentralise responsibilities in their ministries and Organizations for effective leadership and administration.

He disclosed that there is a lot of potential among some of the members that Church leaders need to identify, train and tap from their potential and thereafter give them assignments and responsibilities based on their inherent talents. He stated that when that is done, some of these members will have a sense of belonging and will meaningfully contribute to the church’s growth.

He told them to always choose loyal, dedicated, committed and God-fearing members to superintend activities of some of their departments and units for seamless leadership organisation while they (General Overseas) ensure that the original aims of their ministries are not compromised, which to him, is the propagation of the gospel of Christ in an undiluted way that should be jealously maintained and sustained.

The second guest speaker, His Lordship Bishop Anietie Etukudo identified the issue of accountability and leadership as the twin issues that could bring down a Christian denomination. He charged them to be sincere to members and be accountable to them in all issues concerning Church leadership and administration.

“Start to search for your successor, train them, put good leadership structure in place and ensure you train committed, dedicated and loyal members to take over from you as you advance in the kingdom work so that there will be obvious and seamless transition of authority of leadership and administration”, he declared.

Thereafter, members who are found to be worthy Ambassadors of Christ in the kingdom work were Inducted and issued certificates.

Some members of the business and corporate community as well as a professional class whom the AICLEF president disclosed have assisted the Forum to grow were equally inducted and bestowed with awards.

Some of the ministers in the body of Christ that were inducted included Apostle Raphael Elijah and Evang. Pat Ukwoh, Rev. (Dr) Helen Sam, Pastor Francis Obukpo, Pastor Abraham Akpabio, Apostle David Akpan, Pastor (Dr)Augustus Edet,Apostle Joseph Wilfred,Apostle (Prophet) DavidAkpan, Pastor Gabriel Moses, Pastor Ukeme Edet, Pastor Gideon Johnson, Apostle Solomon Mensong amongst others.

Those from the Business, Professional and Corporate communities who were Inducted and equally bestowed with Awards included Brig. Gen Isang Akpanumontia; Mrs Celestina Uki, Dcn. Emmanuel Etuk, Dr Elisha Atai, Barr. ( Mrs) Uto Ukpanah, Elder Daniel Emah, Evang. (Engr.) Albert Inyang, Dr Chris Mboho, Chief (Engr.) Patrick Anegbe, Otuekong Ubong Jackson, Lagos MPM.Cordinator and Mboho Mkparawa Ibibio Lagos Chapter, which the chapter President, Akparawa Uwem Idaha stood in and received on their behalf.

Speaking with newsmen shortly after their induction, Apostle Raphael Elijah of Deliverance Apostolic Gospel Ministry, Lekki who is also the Publicity Secretary of AICLEF said the event was an eye opener to several religious leaders and business owners to put structure in place for effective administration. He made it known that AICLEF is an umbrella body for all ministers of God from Akwa Ibom State extraction. He appealed to others who are not yet in their fold to join them now and enjoy the numerous benefits attached to membership in the forum.

Apostle (Prophet) David Akpan of Pillar of Cloud & Fire Church of God, Ikeja stated that the day’s event was significant as he disclosed that he has learnt a lot from the theme discourse as he commended AICLEF leadership for putting the event together.

PMI Appeals for a Chance for Young Africans to Drive Continent’s Future

Project Management Institute (PMI), the leading professional organisation for project management and the authority for a growing global community of millions of project professionals has appealed to African leaders to give young Africans a seat at the table to implement plans governing their future.

The Managing Director of SubSaharan Africa of PMI, George Asamanimadethecallattherecently concluded PMI 8th annual conference with a commitment to engage youth successfully in all aspects of their professional growth.

The conference shed light on the

rising leaders - the youth, who hold the promise of transforming the continent and creating the ‘Africa We Want’.

According to the African Development Bank, Africa’s youth population is growing rapidly and will reach 850 million youth by 2050, and by 2063, young people will constitute half of the 2 billion working-agepopulation.Africawill remaintheworld’syoungestregion, with a median age of 25 years.

Attheconference,Asamanistated

“The youth represent a significant human resource that can’t be ignored. Their energy, creativity,

and potential can be harnessed for sustainable development, including addressing climate change.

To empower African youth to be effectivechangemakers,investments shouldbemadeineducation,capacity building, and training in project management”

Thethree-dayconferenceconsisted ofkeynoteaddresses,plenarysessions, breakoutrooms,roundtablesandthink tanks to brainstorm the emerging trends in the project management space. The panellists and attendees sharedtheirpersonalexperiencesand tipsthathelpedthemintheirjourney. Theconferenceheardthattheshort-

age of certified project managers in the region is a significant concern with far-reaching implications for the region’s development and progress. Many of Africa’s development initiatives, such as the African Union’s Agenda 2063 and projects funded by institutions like the African Development Bank, World Bank, etc. are critical for the continent’s socio-economic growth and sustainability.

According to Asamani, “The best way to accelerate capacity building is through partnerships with bodies

that need project management talents and are driving the growth of the continent. That includes governments and multilateral organisations.”

Speaking at the conference, Ezekiel Gachugu, Cabinet Secretary, Ministry of Educa tion Kenya said, “Kenya’s potential to shine on the global stage is undeniable, and the pursuit of excellence in project delivery is central to this ambition.

It is heartening to know that efforts are being made to promote professional involvement and best practices in project delivery

in Kenya. This commitment will undoubtedly amplify the impact of projects across sectors, aligning with the overarching vision of the economic transformation agenda in agriculture, SMEs, housing and settlement, healthcare, digital, and creative economy.”

In addition to the three-day event, a full-day PMI Africa Conference Youth Edition was also hosted at the University of Nairobi.

“Providing a platform for the youth to express theirviewsdemonstratesourcommitmenttoyouth engagement and empowerment.

NEWS THISDAY 29
Dr. Summy Smart Francis and Okonjo-Iweala

Udom Emmanuel: Visionary Leadership on Display

A system is considered successful when there’s a willingness to achieve such a feat. However, thriving systems do not fall from the sky like manner instead, men must go the extra mile to pay the price.

A typical of example of a functional system is one evidenced in the case of Akwa Abasi Ibom State under the visionary leadership of its immediate past Governor, Mr Udom Emmanuel.

Akwaibom State has in recent times garnered great attention and indeed enjoyed the national spotlight which has paved way for an explosive uptick in its economic fortunes owing to the unique leadership style of this simple yet meticulous and unassuming gentleman.

From business professionals to families looking for a serene holiday spot, Akwaibom is the go to destination. Even the political elites are not left behind in this quest to partake of the State’s safe and scenic ambience . Little wonder the Senior legislative arm of the Nigeria National Assembly has taken its retreat to God’s own State Akwaibom. Certainly, the Distinguished Senators of Nigeria’s hallowed red chambers will return from their brain storming session in Ikot Ekpene’ in a relaxed mode with scintillating tales of progress.

The hitherto quiet state has grown and is becoming a global hub for all things good and savvy . Fast becoming a leading spot in aviation, pulling an unbeatable workforce of professionals including; best Pilots to man it’s state of the art aircrafts and stellar crew to provide comfort and best travel practices. The State boasts of arguably the best airline in the Nigerian airspace moving on swiftly on the queue to become a frontliner on the West African route in no distant time. This is the brainchild of non other than HE Mr Udom Emmanuel.

One may think they’ve seen it all with thr stylish Ibom Air , however much more awaits the curious traveler as they arrive the well ordered vistas and streets of the capital city, Uyo. mesmerized visitors are on for a pleasurable trip as they make their way along the routes leading through the highways.

Littered with burgeoning infrastructure, the journey on the State’s roads are devoid of potholes and bumps as plagues other routes of similar dimensions across the Country . the judiciously constructed 23 km Uyo Ikot ekpene expressway deserves specific mention, as this particular highway had proved an almost iinsurmountable albatross for previous administrations. However Governor Udom Emmanuel took it upon himself to ease the burden on travelers and residents along that route and saw to its expeditious completion.

Envision the feeling of nostalgia when one finally sets foot on the historic and rustic town of Ikot Ekpene and smack in its middle is the resplendent modern edifice of the FourPoints by Sheraton Hotel. This magnificent edifice though a formerly abandoned carcass

experienced a 360 degree overhaul by the man Known as Mr Industrialization and it is poignant to note that his successor HE Pastor Umo Eno has borrowed a leaf from his indefatigable predecessor and already set things in motion to ensure the longevity of these structures and systems he met in place that all contribute to making his job easier

Going by his antecedents, it is safe to say that His Excellency, Udom Emmanuel is well deserving of a rousing ovation across board having left behind legacies that set Akwaibom State in the trajectory of economic ascendance.

As the state majestically steers course toward its 36th anniversary, come September the 23rd there is no better time than now to send out a clarion call to those in positions of leadership as well as generations coming in tow to take lessons from Mr Udom’s readiness to serve his people intentionally and in a determined way as practically demonstrated from the inception of his administration as State Governor in 2015 to its night call in May 2023 . Indeed HE brought to bear a new Dawn in governance with focus on creating enviable structures of development.

Throughout his eight year tenure, As a pacesetter in private sector, Udom

professionally re-directed the conventional and stereotypical “achievements” of government in developing nations as ours , moving aside from just building roads, markets, schools and other such infrastructure but broke the jinx by elevating infrastructure and human capital development efforts to global standards and driving FDI as well as improving the livelihoods of the people directly.

I will not fail to mention that even in highly specialized areas where the federal government feared to tread or outrightly slacked, Mr. Udom Emmanuel led Akwa Ibom State to triumph in such ventures to the admiration of all.

A result oriented, silent achiever with a passion for people , below an in-exhaustive list of some milestones actualized by the Udom Emmanuel Eight Year administration Amongst his ranks of Governors, Udom will be remembered as the only governor who created an award-winning airline with a fleet of no fewer than nine aircraft.

As a strategist, he introduced the international terminal at the Obong Victor Atta Airport, Uyo, and also built a facility for the maintenance, overhaul and repairs for, not just Ibom Air aircraft, but also for the servicing of other airline’s facilities, thereby, opening the state to international

Nigerian Students Lament FG Policy on Money Transferrs

Stories by Mary Nnah

Nigerian students in the Turkish Republic of Northern Cyprus have drawn the attention of the Federal Government (FG), to the Central Bank of Nigeria (CBN) Monetary policies that have denied them access and made it very difficult for them to pay their bills.

They lamented that the CBN policy on money transfer, and its directive among other issues confronting them have affected

their academic progress as all transactions must go through the CBN and it has not been easy for them.

“The changes had affected the student’s ability to pay school fees and rent as well as pay for our daily expenses at the appropriate time. This often leaves us stranded, with avoidable penalties and is frustrating our academic progress and overall well-being. It equally hampers the ability to fulfill our financial obligations promptly, since we are denied access to the fund”,

the group noted.

However, the Minister of Youths State ofAfrica Diaspora, (SOAD), Director of the Global NGO Executive Committee (GNEC),liaisingforGlobalNGO totheUNandExecutiveDirector, LightUpFoundation,Olasubomi Iginla-Aina expressed concern over the students’ plight.

Whileappealingtothegovernment to resolve the matter and strengthen diplomatic ties with theTurkishRepublicofNorthern Cyprus, she assured that this will improve the welfare of the

students, as more than 12,000 Nigerian youths enrolled at their university, as of January 2023.

Iginla-Ainaexpressedconcern over the students’ plight after she visited the island where she discovered some of the issues faced by the students, were the form A money transfer policy by the CBN, whose cumbersome process has prevented them from accessing cash, was transferredfromNigeria,making their stranded.

Whileexplainingthatthestress of academic work is already

tourists and creating access to Foreign Direct Investment (FDI) for the state.

HE Emmanuel embarked on the creation of wealth generating industries like the Jubilee syringes, which today is the largest syringes manufacturing company in Africa; the Automated Flour Mills, St. Gabriel Coconut Oil Factory, Ibom Deep Sea Port, Ibom Industrial Park/ Jetty as well as power, refinery projects, gas processing plants and top-notch health facilities amongst others in a drive to create functional employment for the youths of the state.

While power generation and distribution that will guaranty the availability of 24-hour electricity has been a mirage for the federal government, it is on record that Ibom power , established under the leadership of Udom Emmanuel is already generating no less than 150 megawatts of power for the people of Akwa Ibom.

Visitors to Uyo the capital of Akwa Ibom State, are welcomed by the towering Dakkada, the tallest building in the Niger Delta region, another ideation brought to life by Mr Udom Emmanuel and provides office space for various sectors of the economy.

There is also the Dakkada skills acquisition centre designed to train Akwa indigenes in various fields which include civil technologies, mechanical engineering, automobile engineering, ICT, fashion/tourism/hotel management, agriculture, steel fabrication, carpentry works and general studies.

On infrastructural development, Akwa Ibom has the best road network when compared to any state in the federation. A 10 lane road complete with two fountains; the 29km Etinan-Ndon Eyo road is also strengthened with two stayed cable bridges; the 23KM dualised Uyo-Ikot Ekpene road; and the Ikot Oku-Ikono flyover all attest to the magnificent achievements of Mr Right .

Above all, Mr. Udom’ Emmanuel’s tenure will be remembered for the peaceful atmosphere and secured environment upon which the state machinery run freely ; especially the success of his novel Maintain Peace Movement, which created the enabling peaceful atmosphere for enhanced productivity as well as harmonious living in a multifarious state. Udom also knitted the bonds of brotherhood and managed the process of succession without rancor.

Above all else, is his style of leadership primed on God’s direction as well as his bond with the ordinary people of Akwa Ibom whom he engages with at his various visits to the villages, towns and the city of Uyo.

To crown it all , HE. Udom Emmanuel has succeeded in weaving these sensibilities together to produce a successor, Pastor Umo Eno, whose victory at the polls signposts the expansion of the horizon of development in Akwa Ibom.

Considering the achievements of his administration, His Excellency , Udom Emmanuel has displayed the characteristics of a pacesetter in public service, one in whom Nigerians can place their trust and be guaranteed of a safe Future

tedious and draining for them tocopewiththetraumaticexperience of the CBN, she explained her mission to Northern Cyprus.

“Due to the many caps I wear which allow me to work with youths globally, I received calls, emails, text messages and social media space regarding an allegedmaltreatmentofNigerian students in Northern Cyprus. These incidents caught my attention about three years ago but I couldn’t visit the Island due to covid -19 and other matters arising. I finally made it to TRNC

Art of Technology Lagos 5.0 to Unveil The Creative Economy, Digital Lagos

The pinnacle of technological innovation and thought leadership, Art of Technology Lagos (AOT), returns for its fifth edition, AOT 5.0. With an unwavering commitment to progress, this year’s conference dives into two crucial pillars that are shaping Lagos’s future:

“The Creative Economy” and “A Digital Lagos.”

Curated by the Eko Innovation Centre in collaboration with the Lagos State Government, AOT 5.0 promises to be an unparalleled gathering of visionaries, industry leaders, and

changemakers.

Lagos’s creative economy sector is a dynamic force that fuels the state’s economic growth, encompassing diverse industries such as film, music, fashion, design, and advertising. This ecosystem thrives on the brilliance and

innovation of its workforce, playing a pivotal role in driving economic progress.

Under the theme “The Creative Economy and A Digital Lagos,” AOT 5.0 will be a platform for thoughtprovoking discussions, insights, and strategies that

will steer these industries toward greater heights.

Scheduled to take place on December 8–9 at the Landmark Center in Lagos, this conference will bring together pioneers, professionals, and enthusiasts to explore the symbiotic relationship between creativity

in May 2023.”

Speaking further, Iginla-Aina said there was no perfect society anywhere in the world, adding, “The system obtainable here is to pay your tuition fee and other registration required. Once you don’t pay it becomes a challenge. Even students on government scholarships are not spared the agony because many students across the country have not remitted their tuition fees, despite education agreement they have entered with the school authorities.”

and technology.

AOT 5.0 isn’t just a conference; it’s a catalyst for change, shaping the future landscape of the creative economy and digital transformation in Lagos. Join us in this inspiring journey to build a brighter and more innovative Lagos.

HE Udom Emmanuel METRO …Your city life in print
THISDAY 30

Business Head, Simba Power, Ravi Srivastava; Minister of Power, Adebayo Adelabu; Managing Director, Talegent, Bevis Wang; and Marketing Head, Simba Power, El Hadj Seck, during the 10th Nigeria Energy Exhibition at Landmark Centre, Oniru, Lagos…recently

L-R: Honorary Secretary, Warwick University Nigeria Alumni Association, Mr. Kayode Aruleba; outgoing President of the association, Mr. Yomi Audifferen, handing over to the newly-elected President, Mrs. Kemi Awodein; and Vice President, Mr. Oladele Oladunjoye, at the AGM/elections of the association held at the KPMG office in Victoria Island, Lagos…recently

Marketing Edge Advertising Legend award winner/Group Managing Director, SO&U, Mr. Udeme Ufot; his wife, Dorothy Udeme Ufot (SAN); Lifetime Achievement in Advertising award recipient, Sir Steve Bamidele Omojafor; Marketing Edge Leadership Award in OOH Advertising winner/Chairman of the occasion, Dozie Mbanefo; Publisher/Chief Executive Officer, Marketing Edge Publications Limited, Mr. John Ajayi; and his wife, Modupe Ajayi, during the Marketing Edge 20th Anniversary and Awards 2023, held at the Podium Event Centre in Lekki, Lagos…recently

and President, Catholic

Conference of Nigeria, His Grace, Most Reverend Lucius Ugorgi; Archbishop of Benin Archdiocese, His Grace, Most Reverend Augustine Akubeze;

Archbishop of Lagos Archdiocese, His Grace, Most Reverend Alfred Adewale Martins; His Eminence Cardinal Peter Ekwulobia; Archbishop of Abuja Archdiocese, His Grace, Most Reverend Ignatius Kaigama; Director of Education, Catholic Archdiocese of Lagos, Monsignor Jerome Oduntan (in front); and other bishops during the 40th anniversary of the priestly ordination of the ‘Class of 8’ and the 25th Silver Jubilee of the Episcopal Consecration anniversary of Archbishop of Lagos, His Grace, Most Reverend Martins, held at the Holy Cross Cathedral, Lagos...recently PHOTO: KOLAWOLE ALLI

IMAGES
Email abiodun.ajala@thisdaylive.com 31 THISDAY DAY
Photo Editor Abiodun Ajala
The Chairman, Board of Trustees (BoT), Igbobi College Old Boys Association (ICOBA), Mr. Bode Thorpe (left), decorating the newly-elected President of ICOBA, Mr. Olufemi Olubanwo, during the inauguration of the new National Executive Council of the association at the Angus Memorial Hall, Igbobi College, Lagos…recently Lagos State Commissioner of Police, Idowu Owohunwa (left), having a chat with the family members of late singer, Ileri Oluwa Oladimeji (aka Mohbad), in Lagos…recently L-R: Archbishop of Owerri Archdiocese Bishops celebrant/ L-R: L-R:

NGX, UN Women Pa rtner to Promote Gender Bonds in Nigeria

Kayode Tokede

Nigerian Exchange Limited (NGX) and United Nations Women (UN Women) will partner on the integration of gender bonds and other gender-themed sustainable financing mechanisms as strategic instruments to drive gender equality and sustainable development in Nigeria.

This was deliberated at a highlevel engagement between NGX and UN Women officials during the visit of the Regional Director for East and Southern Africa Region (ESARO) and interim Regional Director for West and Central Africa Region (WCARO), Dr. Maxime Houinato, to the Exchange. During the engagement, the parties spoke on the

need to galvanize public and private sector stakeholders to the development and adoption of gender responsive instruments in Nigeria’s capital market and the mobilisation of public and private capital towards investments that promote gender equality outcomes, among other focus areas.

“UN Women has been on the forefront of female advocacy which is a major priority of the work we have been doing with International Finance Corporation on the Nigeria2Equal project. “We are committed to this collaboration with UN Women to further deepen impact in the capitl market and broader private sector, ” said Divisional Head, Business Support Services and

General Counsel, NGX, Irene Robinson-Ayanwale.

Speaking, Head, Product Development, NGX said, Chidinma Chukwueke-Okolo, said “Our collaboration with UN Women will primarily border on capacity building for issuers and investors, specifically for the development of a framework for gender bonds issuance in the Nigerian capital market.”

Houinato, during his remarks stressed the importance of female participation in the leadership in the private and public sectors. He emphasized the necessity of more men in the private sector driving the advocacy for women and also touched on UN Women’s work on female advocacy.

UBA Introduces NQR to Ease Payment for Goods, Services

Nume Ekeghe

United Bank for Africa (UBA)

Plc, has introduced innovative payment method, NQR, an indigenous QR-code-based payments and collections solution to enhance customers’ experience for merchants and buyers.

The NQR payment system, the bank said in a statement, will enable Micro, Small and Medium Enterprises (MSMEs) in Nigeria to receive instant payments from their customers by simply scanning the codes.

“The key element of the NQR is embedded in the UBA mobile banking app.

Powered by the Nigeria Inter-Bank Settlement System (NIBSS), NQR code provides a consistent user experience and aim to accelerate the

adoption of digital technology across the nation. It provides a fast, easy, secure, reliable, contactless, and account-based option to receive and pay for goods and services, “it said.

Speaking on the NQR introduction, Head, Digital Banking, Olukayode Olubiyi, said: “Our customers are at the heart of our business, that’s why we keep going the extra mile to constantly innovate in a bid to satisfy them. As we very well know Micro, Small and Medium Enterprises (MSMEs) contribute significantly to the economy but remain heavily dependent on cash to run their businesses; however, consumers are demanding safer and more convenient ways to pay.

“That is why we have partnered with NIBSS to introduce the NQR (NIBSS QR), which

is a safe, contactless payment platform for merchants and customers to receive and make QR code-based payments for goods and services.”

Olubiyi added, “This payment method is a contactless solution, poised to give customers a unique experience as it is seamless, fast, easy, secure, reliable, and account-based option dedicated to receive and pay for goods and services at their convenience.”

He explained that the NQR is loaded with enormous benefits, including the fact that payments are instant, can be made without using a debit card, customers are only require to scan the code to pay; and each NQR payment can be integrated into the merchant’s cash register to make book balancing seamless

Wema Bank Announce Launch of Hackaholics Digital Summit

Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced the launch of the Hackaholics Digital Summit 2023, Africa’s largest gathering of innovators, disruptors, regulators, policymakers, investors & customers in the digital space.

The summit, the bank said, will serve as a hub for sharing cutting-edge insights, trends, and best practices in the tech industry towards the positive transformation of technology and innovation not just in Nigeria but across the African continent.

It added,“In 2019, Wema Bank introduced Hackaholics, a dedicated initiative targeting youth and startups. Its mission is to provide a stage for entrepreneurs and

innovators with transformative, tech-driven concepts to bring their ideas to fruition and refine their skills. The 4th edition of Hackaholics, lau nched in April 2023, involved several months-long journey to top Nigerian universities to identify and nurture talented students with creative ideas. These students were afforded the opportunity to collaborate, enhance their skills, and actualize their unique concepts through technology.

“The Hackaholics Digital Summit will host both the grand finale of Hackaholics 4.0 and the inaugural edition of the digital su mmit. The Hackaholics Digital Summit 2023 is scheduled hold in Lagos, Nigeria, under the theme, “Re-Imagine: Disrupt-

MARKET INDICATORS

ing the Ecosystem for Scale.”

This multifaceted event commences with the launch of the Hackaholics Digital Summit and concludes with the exciting grand finale of Hackaholics 4.0. During this grand event, the standout teams from the competition will showcase their innovations, contending for the prestigious titles of Hackaholics 4.0 winners.

“Notably, the winning team will receive a grant of N10,000,000 worth of prizes, the first runner-up N7,000,000 worth of prizes, the second runner-up N5,000,000 worth of prizes, while a special N3,000,000 grant is reserved exclusively for a femaleled team. Additionally, a N15,000,000 grant will be allocated to University STEM endowment.”

Sightsavers, JONAPWD Seek Favourable Modalities on Poverty Alleviation Programmes

Oluchi Chibuzor

Sightsavers and the Joint National Association of Persons with Disabilities (JONAPWD), have called on federal government to come up with modalities for making the design and implementation of poverty alleviation programs suitable to the needs of persons with disabilities (PWD)

This is as they equally, stressed the need for registra-

tion procedures for the various National Social Investment Programs (NSIP) and the Conditional Cash Transfer (CCT) programs should be adapted to capture disability status of applicants.

Speaking at a One- day conference tagged, “Equal World Summit,’ hosted by Sightsavers for PWD in Lagos, Country Advocacy Coordinator, Sightsavers, Nigeria, Esther Bature, said Nigeria and world

Money

leaders should ensure that the voices of those with disabilities are heard at UN Summit slated for September 18 to 19.

According to her, “In Sept 2015, UN member states, including Nigeria joined together to adopt the sustainable development goals. However, as we now reach the halfway point to the 2030 deadline, progress has derailed and the sustainable development goals (SDGs) are off track.

OPEC DAILY BASKET PRICE AS AT 25 AUGUST, 2023

The price of OPEC basket of thirteen crudes stood at $85.71 a barrel on Thursday, compared with $85.84 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), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

BUSINESS/ MONEYGUIDE
MONEY AND CREDIT STATISTICS (MILLION NAIRA) July 2023 Money Supply (M3) 65,466,115 -- CBN Bills Held by Money Holding Sectors 442,402.18 Money Supply (M2) 64,926,250.75 -- Quasi Money 40,769,132.38 -- Narrow Money (M1) 24,157,118.36 ---- Currency Outside Banks 2,209,000.87 ---- Demand Deposits 21,948,117.49 Net Foreign Assets (NFA) 9,298,562.89 Net Domestic Assets(NDA) 5,6167,552.11 -- Net Domestic Credit (NDC) 86,466,629.28 ---- Credit to Government (Net) 32,307,463.27 ---- Memo: Credit to Govt. (Net) less FMA 0.00 ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 ---- Credit to Private Sector (CPS) 54,159,166.01 --Other Assets Net 13,165,380.65 Reserve Money (Base Money 17,376,486.41 --Currency in Circulation 2,595,761.69 --Banks Reserves 14,780,724.72 --Special Intervention Reserves 405632.59
Market Indicators (in Percentage) MonthJuly 2023 Inter-Bank Call Rate 15.80 Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR) 18.75 Treasury Bill Rate 4.45 Savings Deposit Rate 5.24 1 Month Deposit Rate 7.11 3 Months Deposit Rate 7.62 6 Months Deposit Rate 8.25 12 Months Deposit Rate 7.81 Prime Lending rate 113.98 Maximum Lending Rate 27.38
32 FRIDAY, SEPTEMBER 22, 2023 THISDAY
L-R: Managing Director/CEO, Parallex Bank Limited, Olufemi Bakre; Non-executive Director, Solayinka Agboola; Chairman, Adeola Phillips; Marina Branch Manager, and Fatai Olanrewaju during the official opening of Parallex Bank Marina Branch, Lagos…. yesterday. SUNDAY ADIGUN

SEC Approves Ellah Lakes’s N2.9bn Rights Issue Amid N1.01bn Loss in 2022FY

Kayode Tokede

Ellah Lakes Plc, yesterday announced that the Securities and Exchange Commission (SEC) has granted approval to its proposed N2.9 billion via rights issue exercise.

The company in a notice on the Nigerian Exchange Limited (NGX) said it got approval to conduct the signing ceremony with regards to the proposed

rights issue of 1,000,000,000 ordinary shares of 50 kobo each at N2.90 per share, on the basis of one (1) new ordinary share for every two (2) ordinary shares held.

OAKE Legal/ Company Secretary, Ellah Lakes, Olumoroti Alli in a signed statement said, “The right issue is subject to the approval of the executed offer documents by the SEC, the application list is expected

to open on the 9th of October 2023, or any other date approved by the Commission and shall open for a maximum period of 28 days.

“Rights circular will be distributed to shareholders while application forms will also be made available on the website of the company’s Registrars for ease of access.

“Esteemed shareholders are advised to contact their

stockbrokers and other financial advisers for more details of the offer,” the statement added.

The proposed rights issue is coming on the backdrop of the company’s N1.01billion loss in consolidated audited financial statements for the 12 months ended Iuly 31, 2022 from N563.3million loss reported in 2021 unaudited financial statements.

The crop production company on the mainboard of NGX since 2018 has failed to declare revenue and sustained losses as shareholders’ return diminished.

Despite the management’s failure to declare revenue, the Group operating expenses stood at N444.13million in 2022 financial year an increase of 35.5 per cent from N327.72million reported in 2021 financial year.

Finance cost increased to N568.59million in 2022, representing an increase of 147.3perr cent from N229.9million reported in 2021.

The stock price of Ellah Lakes closed yesterday at N3.96 per share and it has reached N4.75 and N 3.19 per share 52- week high and 52- week low this year, respectively.

PRICES FOR SECURITIES TRADED ASOF SEPTEMBER/21/23

MARKET NEWS
33 THISDAY FRIDAY, SEPTEMBER 22, 2023
MAIN BOARDDEALS MARKET PRICE QUANTITY TRADED VALUE TRADED ( N ) MAIN BOARDDEALS MARKET PRICE QUANTITY TRADED VALUE TRADED ( N )

PRIESTLY ORDINATION...

L-R:

Abdulsalami to Nigerians: Country's Challenges Not Insurmountable

Declares country’s best yet to come British High Commission says 65,000 Nigerian students issued visa

Chuks Okocha and Sunday

Aborisade in Abuja

Ahead of Nigeria’s Independence anniversary next week, a former Head of State, General Abdulsalami Abubakar, has explained that the social and economic challenges confronting the nation at the moment were not insurmountable, saying the country has got what it would take to be great in an atmosphere of peace.

Abdulsalami stated this in Abuja, yesterday, as chairman at a book presentation titled: 'The making of Modern Nigeria: Pre-

Colonial Era Till Date,' published by the Sun Publishing Company and its partners, Bridge Head Communications and Compact Communications.

He assured Nigerians of better days ahead and that most countries of the world were currently undergoing similar challenges.

"Nigeria is, no doubt, going through some challenges. No matter what we think or say, this prevailing atmosphere of faltering steps, great anxiety, and recriminations is not peculiar to Nigeria. It is a global phenomenon. The good news

Kano: APC's Victory Momentary, Says NNPP

Vows to upturn verdict

The New Nigeria People's Party (NNPP), yesterday, said the Kano State Election Petition Tribunal verdict that sacked Governor Abba Kabir Yusuf and recognised the candidate of the All Progressives Congress (APC), Nasiru Gawuna, was momentary and vowed to upturn the ruling at the appeal.

The NNPP Acting Deputy National Chairman, Nwaeze Onu, while briefing journalists in Abuja, insisted that the party would reclaim its verdict.

Onu streessed that the tribunal arrived at what he called an "unjust judgement by unfairly" subtracting 165,663 votes from the governor's tally in order to enable it unfairly award the election result to the candidate of the ruling APC.

"It is now very clear that our democracy is under serious threat, and there is the need for urgent concerted effort to save it from total annihilation. Without being immodest, our party can pride itself as a party that is not desperate for power.

"That is why in spite of the shortcomings of the last general election, especially, with regard to the disenfranchisement of millions of our voters across the country, we decided not to approach the Tribunal, in view of the tense situation in the country then. Instead, we decided

to focus on building our party for future electoral engagements, hoping the future is bright for the growth of democracy in Nigeria.

"Unfortunately, the judgement by the Kano State Election Petition Tribunal on the March 18, 2023, Governorship election is capable of eroding whatever confidence one has in the judiciary of this great country.

"The reported judgement nullified the free, credible and globally acclaimed fair election of our Governorship Candidate, Engr Abba Kabir Yusuf and brazenly awarded the election to the APC candidate, Nasiru Gawuna. The Tribunal arrived at this unjust judgement by unfairly subtracting 165,663 votes from the Governor's tally in order to enable it unfairly award the election result to the candidate of the ruling APC.

"In doing so the Tribunal obviously affirms its belief that the vote tally of the APC Candidate was sacrosanct. The Supreme Court in many cases has stated its position on this matter in earlier judgements.

“It is going to be a hard nut to crack for the Kano State Election Petition Tribunal to convince a non-partisan Nigerian that in an election cycle with five different polls, (Presidential, Senatorial, House of Representatives, Governorship and House of Assembly) the NNPP won in all except the governorship election.

is that we have all it takes to surmount our challenges and press forward for a better Nigeria.

"To make this happen, all hands must be on deck to change our trajectory and make it possible for Nigeria to have its pride of place in the comity of nations. A necessary first step for the much-desired progress is to examine how the past was charted," he said.

Abdulsalami stated that, the book: “The Making of Modern Nigeria – From Pre-colonial Era Till Date”, was auspicious, and would allow Nigerians to have invaluable insights into understanding the present-day challenges and the way out of the quagmire.

He said doing so uncannily reminded him of the exhortation of a great Chinese philosopher, Confucius, that, "Study the past if you must define the present."

Knowing Nigeria's rich past and its present, he added, would serve as a springboard for the people to work for the realisation of a Nigeria of their collective aspirations and dreams in no

distant future.

"I believe that the Nigeria of our dream is possible when we contribute our quota with every sense of patriotism and nationalism. It is commendable that this book is dedicated to Nigeria's founding fathers and those who believe that some good will still come out of the country.

"Our generation has played its part for the making of a modern Nigeria. The future belongs to the rising generation. It is, therefore, for today’s and future generations to play their roles for the making of a supersonic Nigeria.

“Every effort at chronicling Nigeria's past is in itself a tour de force of what was, what is, and what can be. Nigeria was a notable beacon of hope for the black race in the pre- independence era. Its achievement of independence on October 1960, was both inspirational and reassuring for a host of Africa countries and indeed the larger global community.

"Post independence Nigeria has continued to struggle

for enduring success in an increasingly complex and competitive world. It behooves each and everyone of us as Nigerians and friends of Nigeria to join hands in making Nigeria better and greater.

"This we can do by ensuring, peace reigns in our country, being each other's keeper. We should also support our security agencies in whatever way we can. It had been 63 years of continuous efforts at making the country better and for us as a nation to achieve our full potential. We have seen the good. We have seen the bad. And we hope for the best in the future," Abdulsalami stated.

Deputy High Commissioner to Nigeria in Abuja, Gill Atkinson, said the relationship between Nigeria and the United Kingdom, which predated the former's independence in 1960, has continued to wax strong.

She said the British Government had issued visas to over 65,000 Nigerian Students, currently studying in the United Kingdom.

She said, "As members of the commonwealth, we share the ideals of democracy, human rights and international peace and security, separation of power and rule of law. Nigeria has been an independent nation since 1960, we will celebrate together, 63 years of independence on October 1.

"We recognise the role played by General Abdulsalami Abubakar, when he returned Nigeria to democracy in 1999. I love Nigeria's complexity, diversity, deep cultures and its special many peoples. The United Kingdom issued 65,000 students visas to Nigerian Students to come and study in the UK.

"Nigeria is the third largest country in the world in terms of the country with the largest students in terms of university and transit students in the UK," she added.

Managing Director/Editorin-Chief of the SUN Publishing Limited, Mr. Onuoha Ukeh, said the book was a work that tells the Nigerian story, highlighting different aspects of our national life.

Adibe Emenyonu in Benin City

Edo State Deputy Governor, Mr. Philip Shaibu, apparently battle-weary, yesterday, begged his principal, Governor Godwin Obaseki for forgiveness, after weeks of publicly feuding over differing political interests.

His plea, notwithstanding, and following the forceful reallocation Shaibu’s office to outside the Government House, Obaseki has allocated his old office to Alaghodaro, a Benin word, meaning, "making progress or moving forward" and the catch phrase for an annual investment summit.

Shaibu, however, made the plea yesterday in Benin while addressing journalists shortly after receiving members of the Catholic Men Organisation of Nigeria (CMON), who were on a courtesy visit to his office.

He said both he and Obaseki

needed to come back together as it was in their planto finish well on the ‘project Edo’ both of them started together some years ago His words: “Like I have always told people, I am a loyal servant who will always support the governor. It is a vow (I took) that nothing can change. I only wish that the relationship we had comes back.

“I am really missing my governor and I know God will touch his heart and those who are trying to cause division between us that I mean well. If there is any mistake that I have made as a human, it was not out of wickedness. I have a very clean heart.

“I appeal to the governor, if there is anything that I have unknowingly done wrong, please, forgive me and let’s continue together as we have always been the envy of many states. It is still possible. I am sorry, my governor. I

need us to keep working together,”

Shaibu added.

On the relocation of his office from the Government House, the Deputy Governor noted that though he has resumed at his new office as directed by the governor, the new office was still undergoing some maintenance as the conference room was yet to receive furniture

Meanwhile, contrary to his initial claim of renovating the one-storey apartment, Obaseki has allocated Shaibu’s old office to Alaghodaro.

Alaghodaro, a Benin word that means, "making progress or moving forward", has been an annual investment drive by Edo State Government, initiated by Obaseki since the inception of his administration close to seven years now.

In a leaked memo yesterday dated September 18, 2023, Obaseki asked the Secretary to the State

Government (SSG), Osarodion Ogie, to “immediately” allocate Shaibu’s former office building to the trustees of Alaghodaro summit as their secretariat, headed by his political and business associate, Asuen Ighodalo, the Managing Director of Sterling Bank and Nigeria Brewery Plc. It was gathered that the chairman of Alaghodaro, through its secretary, was said to written to Obaseki for a permanent secretariat building to aid planning and logistics for the 2023 summit holding in the second week of November.

According to the leaked memo, the office space closest to the venue of the summit, the New Festival Hall of Government House, which until a few days ago, was occupied by Shaibu, should be allocated to the board of trustees of the Alaghodaro summit, expected to attract potential investors from different parts of Nigeria.

NEWS
Juliet Akoje in Abuja.
allocates deputy's office to Alaghodaro
Gov
Rev. Fr. Anthony C. Eze; Rev. Fr. Augustine J. Ododo; Rev. Fr. Martins C. Igbadumhe; Rev. Fr. Benjamin Oddi; Catholic Archbishop of Lagos, His Grace Most Rev. Dr. Alfred Adewale Martins, and Rev. Fr. Emmanuel C. Eze, during the Priestly Ordination of the eleven new Catholic Priests of the Catholic Archdiocese of Lagos at Holy Cross Cathedral…yesterday KOLAWOLE ALLI.
34 THISDAY • FRIDAY, SEPTEMBER 22, 2023
I’m Sorry, Forgive Me, Battle-weary Shaibu Begs Obaseki

OLD STUDENTS’ REUNION…

Bago: Terrorism in Niger May Be Worse Than Borno’s If Not Checked

Laleye Dipo in Minna

Niger State Governor, Alhaji

Mohammadu Umaru Bago, has

raised the alarm that, if the rate at which terrorists were attacking the state was not checked, Niger could soon be worse than Borno

State, otherwise known as the epicenter of terrorists attacks in the North Eastern part of Nigeria. Bago, made the remarks in

Barau: Tinubu’ll Tackle Insecurity, Revive Economy

Sunday Aborisade in Abuja

Deputy President of the Senate, Senator Jibrin Barau, has assured Nigerians of the commitment of President Bola Tinubu to revive the economy and address the insecurity in the country.

Barau spoke when he hosted the leadership of the Kano State chapters of the Supreme Council for Shari'a in Nigeria (SCSN) and Jama’atu Izalatil Bid’ah Wa’iqamatus Sunah (JIBWIS), separately at the National Assembly.

The Muslim leaders had expressed concerns over the country's economy and security challenges.

But Barau saide, “President Tinubu is committed and working hard to address the insecurity in the country. He (Tinubu) has been on the issue since he assumed office. He is also focused on the revival of the economy to create employment opportunities for our youths. If people get employed, the security

situation will improve.

“The global system of employment has changed. We have passed the level,where the government alone will provide employment. This is why the government is working hard to provide infrastructure for businesses to thrive so that the private sector can flourish and provide employment opportunities for the citizens,” he added.

In a statement by his Media Adviser, Ismail Mudashir, Barau, described the clerics as the backbone of the society, and commended them for always drawing the attention of the government to issues in the country.

The Kano State Chairman of JIBWIS, Professor Abdullahi Sale-Pakistan, urged the federal government to address what he called, “growing hardship in the country” and appealed to the government to intensify efforts at revving the economy and providing employment in the country.

Kogi Guber: Adeyemi, Achimugu Ask S’Court to Void Ododo's Nomination

Alex Enumah in Abuja

Convinced that Mr Ahmed Ododo could not lawfully fly the flag of the All Progressives Congress (APC) in the forthcoming governorship election in Kogi State, two aggrieved aspirants have asked the Supreme Court to void Ododo's nomination by his party.

Specifically, Senator Smart Adeyemi and Mr. Abubakar Achimugu, who contested the party's ticket during the primary election urged the apex court to upturn the judgments of the Court of Appeal and Federal High Court, which recognised that Ododo was validly nominated by the APC.

The appellate court had in two separate judgments last month, dismissed Adeyemi and Achimugu's appeals for lacking merit.

In the lead judgment delivered by Justice Muhammed Shuaibu, the appellate court had held that the appellants failed to prove their case, adding that the burden of

proof lay on the one who alleged irregularities in the conduct of the APC primary.

But Adeyemi in the appeal said to have been filed last Friday, argued that the lower court erred when it arrived at the conclusion that he did not prove allegations contained in his suit.

The former Senator, who represented Kogi West at the 9th Senate submitted amongst others that as a result of the irregularities, the results announced at the end of the April 14 direct primary election were not in consonance with the results the committee claimed to have collated across the wards in the state; that in the process of allocating votes to the various aspirants, the election committee decided to allot a bogus 78,704 votes to Ododo and 311 votes - the least number of votes to Adeyemi.

The appellant added that the number of votes announced for Ododo was higher than the figure recorded while that for Adeyemi was lower, respectively.

During their visit, members of SCSN led by the Vice President, Dr Bashir Aliyu Umar, said the removal of fuel subsidy had "ballooned the poverty in the country" and appealed to the government to come up with “a genuine means to cushion the effect of fuel subsidy removal.”

Minna, yesterday, when he received a delegation from the Victims Support Fund (VSF) led by its Executive Director, Professor Nana Tanko.

The governor maintained that, "Presently Niger State is among the worse hit by terrorists" and therefore called for support from both local and international organisations to check the trend. He expressed concern at the "huge negative impact of the activities of terrorists in the state," insisting that, "the situation could be worse than that of Borno State" before blaming the condition on

"the size of the state, arable land, bodies of water and illegal mining activities in the state."

Bago appreciated the VSF for coming to the aid of those affected by the nefarious activities of terrorists in the state, but called on the federal government, international development partners and other well-meaning Nigerians for more support to the victims.

In her remarks, leader of the delegation, Professor Tanko, said they were in the state to complement government’s efforts in the area of the welfare for

victims of terrorism, pointing out that after assessing the situation in the state, three local government areas were identified for intervention, which include Shiroro, Lapai and Kontagora. She disclosed that the organisation discovered shortage of food supply in the three local governments and would therefore give 1,000 households from each of them some food items. In addition, she said the organisation would further rebuild the livelihood of the people by providing supports to them to be gainfully employed.

Efforts Underway to Release Kidnapped Corps Members, Says DG

Juliet Akoje in Abuja.

The Director General of the NYSC, Brig. Gen. Yusha'u Ahmed, yesterday, said the scheme had been working to secure the release of all the Corps members, who were kidnapped in August on their way to their orientation camp in Sokoto.

Speaking at the interactive session with members of the House of Representatives Committee on Youth development, Ahmed disclosed that all the security agencies were working together in order to secure their release.

"We have full synergy between the agencies. All these things they

maintain the existing reforms and improving them. Improving the FX market further so the gap narrows,” the finance minister said.

“(We are) Looking at all options for boosting supply so the one-way bet of speculators that we are seeing at the moment is reversed,” he stressed.

Nigeria gets over 90 per cent of its foreign exchange from oil and gas export, but has in recent years been starved of dollars as the Nigerian National Petroleum Company Limited (NNPC) is unable to pump enough crude for sale.

Meanwhile, the MPC yesterday announced the postponement of its 293rd meeting till further notice.

The meeting was initially scheduled for Monday and

work together. The only problem is information. Once information is out we will have a seamless situation. The issue of NYSC providing busses might not be possible. It would be subject to budgetary allocation. We will get there as more proactive measures will be put in place.

"Three of the perspective corps members had earlier escaped from the kidnappers while one that was shot was released and is receiving treatment. The Corps members are insured and are fed well," he said.

Ahmed also announced that there were plans to increase allowance of corps members but that the scheme was waiting for

Tuesday, September 25 and 26, 2023, respectively.

However, in a statement issued by CBN Director, Corporate Communications Department, Dr. Isa AbdulMumin, the bank said a new date would be communicated in due course.

"We regret any inconvenience this change may cause our stakeholders and the general public," the statement added.

The deferment may not be unconnected in with the leadership vacuum at the apex bank following successive change of guards occasioned by the removal of former CBN Governor, Mr. Godwin Emefiele in June.

On June 9, 2023, Tinubu suspended Emefiele from office sequel to an ongoing investigation of his office and the planned

the increase in minimum wage by the federal government.

He, therefore, solicited the corporation of the National Assembly for the NYSC Trust Fund, which would enable the scheme to empower corps members after the compulsory one year national service, adding that the parents of the kidnapped corps members were happy with efforts made towards the release of their children.

Chairman of the committee, Hon Martins Esin, during his remarks, said the meeting became imperative as the House was worried by the situation.

Esin said "House wants to know

reforms in the financial sector.

Emefiele was directed to immediately hand over the affairs of his office to the Deputy Governor, Operations Directorate, Mr. Folashodun Shonubi, who would act as the Central Bank Governor pending the conclusion of the investigation and the reforms.

Analysts, however, believed the suspension was a political and personal vendetta against the former apex bank's governor.

In the buildup to the 2023 presidential elections, Tinubu had accused Emefiele of plotting to thwart his chances of becoming president by implementing the cashless policy as well as redesigning the local currency.

Emefiele had denied all

what the NYSC scheme was doing towards the release of the corps members and that the NYSC has recorded successes in its fifty years of existence. Anything that brings Nigerians together, as such as the scheme, must be encouraged."

While urging the NYSC to continue the good work of unifying Nigerians, and keep their eyes on the ball, he said, "This year, House of Representatives is very open to supporting the scheme. I am was very confident that with the efforts and collaborations being made, the kidnapped Corps Members would soon be reunited with the family"

the allegations, insisting the policies were not targeted at any individual but in the public interest.

However, four months into Shonubi's reign, Tinubu on September 15, 2023, nominated the former head of Citibank in Nigeria, Olayemi Cardoso, to serve as the new central bank governor, days before its next crucial MPC meeting.

Given that Cardoso's nomination is subject to the Senate approval, and the fact that he was yet to officially resume at the apex bank, a vacuum is already created ahead of the MPC meeting which would have been the first to be presided over by Cardoso. Shonubi, in his acting capacity, presided over the last MPC meeting held in July.

NAIRA FALLS FURTHER TO N995/$ ON PARALLEL MKT, EDUN BLAMES $6.8BN BACKLOG FOR CURRENCY'S WOES
NEWS 35 FRIDAY, SEPTEMBER 22, 2023 • THISDAY
L-R: Treasurer, Lumen Christi Secondary School Old Students Association, USA chapter, Tolulope Adeosun; Deputy Governor, Uyi O sadebamwen; Governor, Osayande Asuen; General Secretary, Raphael Osagiede, and Ex-Officio, Emmanuel Esene, during the inauguration/Reunion of the association held in Houston Texas... recently

RISK MANAGEMENT INSTITUTE CONFERENCE...

Tinubu's Investment Drive Will End Smuggling of Contraband Goods, Says Customs Boss

Ahmad Sorondinki in Kano.

The acting Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, has said President Bola Ahmed Tinubu's investment policy would bring an end to smuggling of contra-band goods into the country.

The Customs boss spoke during the Passing Out Parade for 956 General Duty Junior Officers, who ended their Basic Course 1/2023 training at Customs Training

College, Goron Dutse, in Kano, yesterday.

According to him, Tinubu has demonstrated readiness to bring to end the illicit career of smugglers, through his renewed vigour to bring in investors and rebuild Nigeria's economy.

He said, "I think smuggling, generally, is an act of sabotage; and Mr. President has demonstrated his readiness to give some kind of vigour, renewed vigour, renewed hope in our economy.

Sultan of Sokoto Urges Nigerians to See their Diversity as Strength

Olusegun Samuel in Yenagoa

The Sultan of Sokoto, His Eminence Muhammad Sa'ad Abubakar III, has called on Nigerians to see their diversity as their strength, saying the country would be stronger together as one indivisible entity.

The revered royal father stated this in Yenagoa, Bayelsa State capital, yesterday, while inaugurating a 10.2km Glory Drive dual carriageway project by the Governor Douye Diri administration.

He urged those struggling for leadership position not to force themselves on the people, saying it was only God that gives power and could also take it away without notice.

He said: “Somebody will wonder why bringing somebody far away from Sokoto to Bayelsa to Commission a road project, there are too many things there to talk about if we have to spend a whole day to talk about it, one; it is not just a road but very iconic and historical road, and it takes long time and a lot of money to build.

“There is a need for us to be together as one big family, why bring somebody far away from Sokoto to Bayelsa, because this is one Nigeria, we are stronger together, our diversity is our strength, we are all here today as one family, different tribes, but we are all together and when a leader is doing right thing, you will see it through the faces and action of the followers, and I believe the governor is doing the right thing.

“I pray the governor of Bayelsa State do more for the people of the state, work for the people who put you in leadership position and not for them to work for you, you are their servant and they are not your servants.

“So, I want to call on the people of Bayelsa to continue to show support, pray for the leaders, when a leader is doing well, support him so that

he will do more, when he is doing wrong please correct him, don't think because he is your leader, he cannot be corrected, nobody is above mistake, leaders make mistakes more than the followers because they are on top there and thing they in in comfort zone.

“A leader must consult before taking decision, myself and the governor of Bayelsa State will continue to work together for the peace and harmony of our people, our diversity is our strength, let's continue to help one another.”

He added: “We want peace in our society, please no matter what happened, don't force yourself on the people, try to be peaceful in your approaches in life, only God gives power to whom he wants, and he will take away too from you without warning you, that is why we pray for peace in Bayelsa State, we pray for peace in Nigeria and peace in the world, we thank God for this.

“I like to thank the good people of Bayelsa State for inviting and receiving us, and we thank Allah for making us to accept this invitation, and bring us here safely. Such work like this is what you are doing to take the burden of leadership from your shoulders by providing this road for people to use in happy mood.

“I want to assure you that the governor will do much more and will be part of the success story of the future of Bayelsa State, so that when the history of Bayelsa is written and name of Douye Diri is written, they will say yes, one time he brought the Sultan of Sokoto, who is by the grace of God the chairman of National Council of Traditional Rulers, who happened to be by the grace of God the leader of the millions of Muslims in Nigeria and sub Saharan Africa and who by the grace of God the co-chairman of Nigeria inter-religious Council which we are teaming up with Christian leaders to make peace prevail in our communities.

"When you look at some of the policies that he has taken in terms of making businesses thrive, bringing in investors and things like that, we are having these efforts to rebuild our economy, then there would be no room for smugglers or those who want to sabotage us."

Speaking further, he said: "So, it has to be a kind of concerted efforts by everybody concerned, particularly, those communities living around our borders. And this was why I went to so many of them.

"I visited them, I had engagement with them. I sought for their support, their protection and their understanding. I made

them to understand that our economy will not survive if we allow smugglers to continue to perpetrate their heinous crimes.

"We are happy that the narrative is changing gradually. I was in Shaki, in Oyo State some weeks ago, and I saw how the traditional rulers and leaders in those communities came out en masse, not only to welcome us, but to give us assurance that they would be ready to support us in all our training activities and in our operations.

"The story is not different when I went to the north-western borders. I had very serious engagements with members of the communities. We are hopeful that with their

support, we will win significantly the war against smuggling."

On the issue of shooting innocent Nigerians by the unscrupulous officers, Adeniyi said, “the era of our men while holding weapons would be shooting innocent Nigerians due to lack of sound training is over and has gone forever, and will not be repeated.”

The Comptroller General urged the new recruits to utilise the opportunity adequately and be diligence in their service to the Customs and the entire nation.

In his address, the Commandant of the Customs Training College, Mr. Rasheed Adahunse said: "These Junior Officers graduating today

were found suitable in learning and character. It is pertinent to state that this Basic Course 1/2023 commenced on the 22nd of March, 2023, and the skills displayed by the graduands were mastered within this short period along with academic activities.

"The training graduates covered topics on Enforcement, Revenue, Valuation, Export and Import Procedures; Passenger Selection. Parcel Post, Administration, Information and Communication Technology (ICT), Civil Relations and many more other courses to mention but a few. Examinations were conducted to ascertain their level of assimilation and were also graded.”

ASUU Decries Non Implementation of Agreement with Taraba State Govt.

Wole Ayodele in Jalingo

The Academic Staff Union of Universities (ASUU), Taraba State University (TSU) chapter, has decried the non-implementation of the Memorandum of Action (MOA) signed by the Taraba State government to restore industrial harmony in the institution.

In a statement released at the end of its Congress meeting held yesterday, which was signed by its Chairman, Dr. Mbave Joshua Garba, the union described the non-implementation of the MoA as highly demoralising.

According to ASUU- TSU, the MoA was signed on 18th March, 2021, between the Taraba

State Government, Taraba State University Management and ASUU-TSU branch, to resolve the myriad of issues causing industrial disharmony in the institution.

The issues the MoA was to resolve included non-payment of Earned Academic Allowances (EAA) since 2015 and lack of clarity regarding staff pension and gratuity.

Others were the construction of the perimeter fence to enhance the security of the university as well as the outstanding promotion arrears for 2020, 2021, and 2022, and the annual step increment from October 2020 to July 2021.

Similarly, the union lamented

the delays, irregular and sometimes fractional payment of salaries saying its members were being owed six full months and seven months fractional salaries, adding that they were yet to be paid their salaries for the month of July and August which it described as worrisome.

Calling for an expeditious action to address the state of emergency in the institution, the Union Congress also called for the full implementation of Law No. 4 of the Taraba State House of Assembly to address the funding challenge of the University.

The funding sources outlined in Law No 4 included five per

cent of the monthly State statutory allocation, five per cent of the monthly statutory allocation of Local governments in the state and 2.5 per cent of contracts awarded by the state and local governments.

Other sources were two per cent State Education levy from charges on guests in hotels in the state as well as other sources as determined by the University Council.

The ASUU- TSU maintained that the lack of proper funding had negatively impacted the smooth running of the institution and therefore called for urgent action to ensure the Law is fully implemented.

Fuel Scarcity Looms as Edo IPMAN Threatens Strike over Bad Roads

Wants state govt to carry out palliative repairs on bad roads

Adibe Emenyonu in Benin City

The Independent Petroleum Marketers Association of Nigeria (IPMAN), Edo State Branch, has threatened to suspend sales of petroleum products across the state over the deplorable state of roads in the state.

The Union in its letter dated Monday, September 25, 2023, and addressed to state governor, Mr. Godwin Obaseki, issued

a seven-day ultimatum to the state government to carryout emergency repair on the failed portion of the roads They listed the roads to include Benin/Agbor Road, Benin/Sapele Road, the Sapele Road end of the Benin bypass, all the way to Lagos Road end of the expressway as well as the Benin-Auchi Express Road.

The letter signed by union's Chairman, Alhaji: Abdulhamad Baba Saliu and others, titled,

"Notice of Intention to Shut Down Sales of All Petroleum Products in Edo State Due to the Bad Roads in Edo State," read in part: "As law abiding citizens who pay their taxes to the state government, we write that the huge financial losses, we do suffer as a result of bad roads in Edo State is taking a huge toll on our business.

"We are by this letter notifying Your Excellency, Governor Godwin Obaseki

of our intentions and also as responsible citizens to make you understand why we have to take this step.

"That failure of the Edo State Government to carry out palliative repairs on the said roads stated above within seven days of this letter being served, all members and all petroleum marketers in Edo State will be forced to suspend sales of all petroleum products in Edo State until the roads are repaired."

NEWS
L-R: Founder of CWG Plc, Austin Okere; Registrar/Secretary to the Council, Chartered Risk Management Institute of Nigeria (CRMI), Victor Olannye; President/Chairman of Council, CRMI, Ezekiel Oseni; Executive Director, Large Enterprises, Bank of Industry (BOI), Simon Aranonu; First Vice President, CRMI, Kevin Ugwuoke; Director,Risk Management, Central Bank of Nigeria (CBN), Blaise Ijebor, and Second Vice President, CRMI, Umar Yayangida, at the 22nd Annual International Risk Conference organised by CRMI in Lagos.. yesterday.
36 THISDAY • FRIDAY, SEPTEMBER 22, 2023

Retired S’Court Justice Amina Augie Calls for Immediate Review of Constitution

Alex Enumah in Abuja

The 10th National Assembly and in particular, the Senate President, Godswill Akpabio, have been called upon to do everything possible to amend the 1999 Constitution so as to prevent unnecessary cases from reaching the apex court.

Augie, who retired from the bench of the Supreme Court on September 3, 2023 on attaining the mandatory retirement age of 70 years, argued that the apex court is being distracted daily from discharging its primary function as a “Policy-making Court” by the presence of “appeals that do not align” with their main function.

Terrorism: Niger Could Soon Be Worse than Borno if Not Checked, Gov Laments

LaleyeDipoinMinna

Niger State Governor, Alhaji

Mohammadu Umaru Bahago, has lamented that if the rate of terror attacks in the state is not checked, the state could soon be worse than Borno State, the epicentre of terrorists’ attacks in the North-eastern part of Nigeria.

Bago made the remarks in Minna yesterday when he received a delegation from the Victims Support Fund (VSF) led by its Executive Director, Professor Nana Tanko. The governor maintained that “presently, Niger State is among the worst hit by terrorists,” and, therefore, called for support from both local and

Speaking at a valedictory court session to mark her retirement, Augie, who is the sixth female justice on the bench of the apex court, lamented that justices of the Supreme Court “are drowning in an overwhelming caseload.”

international organisations to check the trend.

He expressed concern at the “huge negative impact of the activities of terrorists in the state,” insisting that “the situation could be worse than that of Borno State,” before blaming the condition on “the size of the state, arable land, bodies of water and illegal mining activities in the state.”

Bago appreciated the VSF for coming to the aid of those affected by the nefarious activities of terrorists in the state but called on the federal government, international development partners, and other well-meaning Nigerians for more support to the victims.

PFN Denies Attacking CAN

Kemi Olaitan inIbadan

The Pentecostal Fellowship of Nigeria (PFN) yesterday denied a report credited to its National President, Bishop Francis Wale Oke, regarding the Lagos State chapter of the Christian Association of Nigeria (CAN), saying the publication does not represent the truth.

A statement issued by the office of the National President of the PFN said the report was baseless and information given out of context.

The report had said Oke made derogatory remarks about CAN,

alleging that he was trying to polarise the Lagos State chapter of CAN.

However, the PFN reiterated its commitment to unity of purpose in the Christian faith, assuring all that it would not assault or relegate the CAN.

The statement read in part: “The attention of the leadership of the Pentecostal Fellowship of Nigeria (PFN) has been drawn to a recent online newspaper report circulating regarding the statement made by the PFN president at the Lagos chapter of the PFN meeting held in Lagos.

CHANGE OF NAME CHANGE OF NAME

I formerly known and addressed as OJORA SOFURAT OMOSHALEWA, now wish to be known and addressed as OJORA SAFURAT FOLASHADE. All former documents remain valid. The general public should please take note.

I formerly known as MISS ONYEGBULE PORTIA CHIDERA now wish to be known and address as MRS NWAEZE PORTIA CHIDERA. All former documents remain valid. The public should please take note.

I formerly known and addressed as ATINUKE SILFAT DISU now wish to be known and address as DANMOLA ATINUKE IREWAMIRI SILFAT. All former documents remain valid. The public should please take note.

I formerly known and addressed as MISS OSSAI RUTH IFECHUKWUDENI now wish to be known and address as MRS CHUKWUNWEIKE RUTH IFECHUKWUDENI. All former documents remain valid. The public should please take note.

I formerly known and addressed as VIVIAN IJEOMA OFUOKWU now wish to be known and address as VIVIAN IJEOMA ARIYO. All former documents remain valid. The public should please take note.

I formerly known and addressed as VIVIAN IJEOMA OFUOKWU now wish to be known and address as VIVIAN IJEOMA ARIYO. All former documents remain valid. The public should please take note.

This is to inform the general public that during my Number (BVN) exercise.my name was wrongly captured as HARMONY PECULIA BOMASIME-TAMUNOPIRI instead of PECULIAR BOMA HARMONY IHEATURU. All former documents remain valid.The general public should please note.

I formerly known and addressed as OCHEIDO DEBORAH, now wish to be known and addressed as ONAFOWOKAN DEBORAH WINNIE. All former documents remain valid. The general public should please take note.

I formerly known and addressed as AVWENAYERI COMFORT now wish to be known and address as ITETIA AVWENAYERI COMFORT. All former documents remain valid. The public should please take note.

I formerly known and addressed as MISS UZOR ENYIOMA PERPETUA now wish to be known and address as MRS OKORONTA ENYIOMA PERPETUA. All former documents remain valid. The public should please take note.

I formerly known and addressed as DANIEL UWANNA now wish to be known and address as NWACHINEMERE FESTUS DANIEL. All former documents remain valid. The public should please take note.

I formerly known and addressed as MISS NWOKENNA PHINA now wish to be known and address as MRS AGHAZIEM PHINA. All former documents remain valid. The public should please take note.

I formerly known and addressed as FELIX IVY CHINONSO now wish to be known and address as OBED CHINONSO CYNTHIA. All former documents remain valid. The public should please take note.

I formerly known and addressed as MISS IBEDIOGWU KASARACHI,IBEDIOGWU MANDY KASARACHI and IBEDIOGWU KASARACHI M.I. now wish to be known and addressed as MRS IHAETURU MANDY KASARACHI.All former documents remain valid and the general public should please take note.

“Something must change. This court is the apex court, and its final decisions shape society’s social order. Justices should be able to focus on what truly matters.

“The only way forward...is to

amend the Constitution to restrict the circumstances under which appeals can reach this court”, she said.

While pointing out that the occasion is the last her voice would be heard in any court,

she said: “I wish to use this opportunity to directly address the 10th National Assembly, through the distinguished Senate President, Senator Godswill Akpabio, who was once my student at the Law School.

Anambra Vigilance Group Kills Suspected Kidnapper, Rescue Four Victims

David-Chyddy Eleke in Awka

The Anambra Vigilante Group (AVG), has rescued four persons allegedly kidnapped in Onitsha, while one of the alleged suspects was neutralised. A source, who disclosed this to THISDAY, said that three vehicles

used by the kidnappers were equally recovered by the AVG operatives, including one AK-47 rifle and a pistol. The source stated that the rescue operation took place in two operations in different locations in Onitsha, and happened between 8.30 p.m. to 9 p.m. on Wednesday.

Corroborating a viral video of the rescue of the victims which had flooded the social media, an Onitsha resident, Mr. Theo Eze said: “Yes, the videos are true. The men were intercepted by AVG operatives, and their victims rescued, while one of them was killed.

“Because of the nature of crime in the commercial city, some prominent indigenes have made financial contributions to reenergize the security system in Onitsha, to avoid the over reliance on police.

“What you see in that video is the fruit of such strengthening of the AVG,” Eze said.

Nigeria’s Great Potential Can Only Be Actualised in Atmosphere of Peace, Says NSCDC Boss

Michael Olugbode in Abuja

The commandant General, Nigeria Security and Civil Defence Corps(NSCDC), Dr. Abubakar Audi, has said Nigeria as a nation can only actualise its enormous potential when the culture of peace and peaceful

coexistence is imbibed by all and sundry.

Audi made the comment in his message on the International Day of Peace as he wished all peace loving Nigerians a peaceful celebration of the day. Audi, in a statement yesterday, signed by the spokesman of

the NSCDC, Babawale Afolabi, said: “The main significance of celebrating the International Day of Peace Day or World Peace Day is to foster a culture of peace and non-violence across global communities. It creates awareness among people about the disastrous effects of

conflicts, wars, and violence, thereby encouraging them to adopt cease-fire initiatives and is celebrated on this day 21st September everywhere.”

This year’s celebration has its theme as “Action for Peace: Our Ambition for the Global Goals.”

Group Laments Exploitation of Religion, Ethnicity to Escalate Conflicts

Seriki Adinoyi in Jos

Kwamkur Samuel Foundation for Justice and Peace Development has faulted the exploitation of religious and ethnic divides for conflict in Nigeria, noting that religion and ethnicity are not inherently

divisive but are often exploited by selfish interests and politicians seeking to divide communities for their gain.

Speaking during the Foundation’s 2023 rally in Jos, the keynote speaker at the rally, Professor Shedrack Gaya, explained that ethnicity is

rooted in shared cultural traits, ancestry, historical experiences, and myths of descent. “Similarly, religion serves as a powerful identity, but its role in conflicts and violence has been a subject of debate.”

Gaya said that Nigeria, with its diverse ethnic and

religious landscape, faces unique challenges related to ethnicity and religion, stressing that Nigeria has 374 ethnic groups, over 500 languages, and two dominant religions, making competition for resources based on ethnicity and religion prevalent.

Former Senator, Reps Member, Ex Deputy Speaker Dump PDP, Join Accord in Kogi

Ibrahim OyewaleinLokoja

Ahead of the November 11th governorship election in Kogi State, former Senator Nicolas Ugbane, House of Representatives member Positive Ihiabe and former Deputy Speaker Kogi State House Assembly Emanuel Omebije, have dumped the Peoples Democratic Party joined

Accord , drumming support for the party candidate.

At stakeholders’ meeting in Lokoja yesterday, Senator Ugbane stated that the decision to join Accord as party was borne out of the conviction and the track record of the Party flag bearer in the coming election Rear Admiral Jibrin Usman( rtd).

He explained that the former

Chief of Naval Staff is good material that will emancipate the people of Kogi State from abject poverty, stressing that it was not easy to rise from rank and file to that position in the Navy.

“We are supporting him to be the governor of Kogi State. He has what it takes to lead the state to a greater height and that is why

we are during support for him,” he said.

The party flag bearer in the November 11th governorship election in Kogi State, Rear Admiral Jibrin Usman while speaking during a stakeholders’ meeting, vowed to tackle the perennial flood in Kogi State if elected as governor of the State.

Police Neutralise Two Robbery Suspects, Arrest One in A’Ibom

Okon Bassey in Uyo

The Akwa Ibom State Commissioner of Police, Olatoye Durosinmi, has warned criminal elements operating in the state to desist from their trade or leave the state immediately. The CP in a statement issued

yesterday by the state Police Public Relations Officer (PPRO), MacDon Odiko, noted that the task of keeping the state safe is a must for the state Police Command. He revealed that the Command recently neutralised two robbery suspects, arrested

one and recovered arms and ammunition.

According to him, “In response to a distress call of armed robbery attacks at Udoette by School Road, UniUyo by Ikpa road area, Ikot Udoro and its environs in Uyo Local Government Area, operatives

of Quick Intervention Unit of the Command proceeded to the scene, and the hoodlums, on sighting the police, engaged them in a gun duel. In the ensuing battle, two of the notorious robbers were fatally injured, while one Godswill Ntieno Isaac was arrested.”

FG Urged to Imbibe Risk Management Practices in Governance

Nume Ekeghe

The President and Chairman of Council of Chartered Risk Management Institute (CRMI) Mr. Ezekiel Oseni, has advocated for the integration of risk management principles into the governance framework of all three tiers of government.

Oseni emphasised that this measure would serve as a protective shield for Nigeria’s economic stability

and enhance its ability to attract both foreign and domestic investments.

He made this call yesterday at the 22nd Annual International Risk Conference that was organised by CRMI where stakeholders converged to discuss “Embracing Disruption: Navigation Risk in an Era of Global Transformation.”

The CRMI IS the only risk management institution that is granted a charter by the Federal Government of Nigeria.

Tinubu Lauded for Oduwole’s Appointment as Adviser

Stakeholders in the business sector have commended President Bola Ahmad Tinubu for appointing Dr. Jumoke Oduwole as Special Adviser to the President on Presidential Enabling Business Environment Council(PEBEC) and Investment, noting that the appointment signals his commitment to continuity in enhancing the country’s business environment.

The senior lecturer in international law at the University of Lagos, who held the position in the previous administration, is one of the aides whose appointment was announced on Monday. Oduwole’s portfolio has been expanded with the addition of investment to her duties, which

she will continue to discharge in the Office of the Vice President, Kashim Shettima. She will also continue to serve as Secretary of the Presidential Enabling Business Environment Council (PEBEC), which is chaired by the vice president.

Commenting on her appointment, a Kano-based investor, Mohammed Abdulahi, said: “It shows Mr. President’s adherence to the principle of continuity considering Dr. Oduwole’s excellent performance. PEBEC was one of the shining lights of the previous administration. We all saw how active the Council was in addressing issues contraining business and investment in this country.”

Oseni said: “We are in a world where uncertainty and the level of volatility are unpredictable.

There is the need for effective risk management in governance across the three tiers of government.

Unizik Senate Vows to Deal with Lecturers Involved in Sexual Misconduct, Others

David-Chyddy Eleke in Awka

The Senate of Nnamdi Azikiwe University, Awka,Anambra State, has vowed to deal decisively with any lecturer found to be involved in sexual harassment of female students and other forms of misconduct.

There had been a recent move by the Vice Chancellor of the institution, Prof. Charles Esimone, to install closed circuit cameras in the offices of lecturers.

The move had, however, been stoutly rejected by some lecturers, who cited violation of their privacy.

But in a meeting of the Senate of the university, which was held on Wednesday, and whose resolutions was obtained by THISDAY reporter, the Senate resolved to come down hard on lecturers found to be harassing female students for sex.

The Senate also cautioned students against indecent

dressing, and other form of provocative dressings, which have most times been cited as cause of rape.

The resolution of the Senate as obtained by THISDAY read: “Sexual defilement of students in the offices was reported to the Senate.

“It was resolved that to check the abominable act, the management, should strictly adhere to punitive measures in line with the University laws.

“Lecturers were, therefore, warned not to indulge in such practices or face the wrath of the law. To be fore warned, is to be fore armed.

“The use of all forms of indecent dresses in the University was prohibited. Staff and students were requested to change their indecent dresses urgently. Punishment is one month community service and expulsion if repeated and found guilty,” the resolution read.

37 FRIDAY SEPTEMBER 22, 2023 THISDAY NEWSXTRA

Super Eagles Drop in FIFA Ranking as Argentina Maintain Top Spot

Nigeria may face champions Senegal, hosts Côte d’Ivoire in AFCON 2023

Duro Ikhazuagbe

Super Eagles 6-0 defeat of São

Tomé and Principe in a final Group

A match of the 2023 AFCON qualifiers early this month count nothing for Nigeria in the latest FIFA ranking released on Thursday. Instead, Nigeria dropped a place

to be ranked 40th globally and sixth in Africa.

Expectedly, Morocco who finished as semifinalist at the last World Cup in Qatar continued to maintain her top spot in the continent and 14th globally.

AFCON 2021 champions

Senegal are second with Tunisia,

Algeria and Egypt completing the Top 5 spots of the continental ranking in that order. Cameroon. Mali, Côte d’Ivoire and Burkina Faso make up the other countries in the Top 10 in Africa. Argentina’s 1-0 triumph over Ecuador and a 3-0 defeat of Bolivia in the CONMEBOL FIFA World

Napoli Coach, Garcia, Hails

CHAMPIONS LEAGUE

Although Victor Osimhen did not score in Napoli’s 2-1 victory away at Sporting Braga on Wednesday night, team handler, Rudi Garcia, has heaped plaudits on the Super Eagles forward for his performance that earned him the Man of the Match award of the UEFA Champions League group game.

The Nigerian International striker set up Napoli skipper Giovanni Di Lorenzo to fire the opening goal of the match.

“Victor Osimhen fought hard and ran,” began Garcia.

“It’s what I expect from all my players, that when it comes time to defend, they all help out.”

Last season, Napoli reached the quarterfinal of the Champions League for the first time in their history with Osimhen netting five goals and only lost to Serie A counterparts Inter Milan.

Boniface on Target as Leverkusen Cruise to 4-0 Win

Newly capped Super Eagles striker, Victor Boniface, proved he was worth the money spent by Bayer Leverkusen to lure him to the Bundesliga outfit as he got on the scorer’s sheet in his first UEFA Europa League game for the German team.

Boniface was on target Bayer Leverkusen as they smash past BK Hacken of Sweden 4-0. He was on song on 67 minutes for Leverkusen third goal and also provided an assist.

Also last night, a former Flying Eagles central defender, Igho Ogbu, scored in a 2-0 Slavia Praha victory at Servette of Switzerland. Ogbu doubled Slavia lead in the 59th minute in Switzerland.

Elsewhere, Liverpool came from behind to beat LASK Linz as they made a 3-1 winning start to their Europa League campaign.

LASK midfielder Florian Flecker struck a brilliant opener from the edge of the area on 19 minutes for the Austrians. Darwin Nunez equalised from the penalty spot after Luis Diaz was fouled, before Diaz himself scored the winner from debutant Ryan Gravenberch's cross.

Second half substitute Mohamed Salah added a third goal late on for Jurgen Klopp's side to seal victory. Klopp made 11 changes to the Liverpool team

which started against Wolves in their previous fixture.

In a Group E clash, Union St-Gilloise and Toulouse drew 1-1, leaving Liverpool two points clear at the top of the standings after the first round of matches.

Cup 2026 qualifiers strengthened the Albiceleste hold at the top. France are second while Brazil, England and Belgium make up the Top 5. Croatia (6th), the Netherlands (7th) and Portugal (8th), Italy (9th) and Spain complete the Top 10 teams for the month of September.

Meanwhile, Super Eagles now face the prospect of facing defending champions Senegal, hosts Cote d’Ivoire, Morocco, Algeria and Egypt in the group stage of AFCON 2023. Eagles are joined in Pot 2 by perennial rivals, Ghana and Cameroon.

Man-of-the-Match Osimhen

Mali, Democratic Republic of Congo and Burkina Faso are the other teams in Pot 2. In Pot 3 are; South Africa, Cape Verde, Guinea, Zambia, Equatorial Guinea and Mauritania while Pot 4 has Guinea Bissau, Namibia, Mozambique, Angola, Gambia and Tanzania.

The draw for the AFCON 2023 will be staged in Côte d’Ivoire on Thursday October 12. The competition proper is to run from January 13 to February 11, 2024 to decide the next champion league of the continental showpiece.

Delta Set to Host Memorable 7th National Youth Games in Asaba

Duro Ikhazuagbe

All is now set for the 7th edition of the National Youth Games to kick off tomorrow in Asaba, Delta State.

As at yesterday, most of the 36 states and the Federal Capital Territory (FCT) had arrived the capital city and were seen putting finishing touches to their prepara- tions to battle for medals in the youth sports fiesta.

The Games will feature 35 sports, with no fewer than 4,500 athletes from the states and the FCT participating.

The Minister of Sports Development, Senator John Owan Enoh, is expected to be on ground for the opening ceremony scheduled for tomorrow at the Stephen Keshi Stadium in Asaba.

An aide of the minister told THISDAY yesterday that the main focus of the Games will be to unearth young talents for the country, who would possibly take on the baton at the elite stage in a few years.

“At this level of sports, our major focus as a nation will not be to win, but to provide a platform for new talents to find expression,” the Ministerial aide stressed.

Speaking at a media parley with senior sports journalists recently, the Minister said that he was looking forward to a working system that

churns out talents for the country.

“We want to have a working system that churns out talents for the nation, and at the same time provide a platform for these talented individuals to be the best version of themselves.”

“The National Youth Games is

for young athletes who are 15 years and under. It is at this level that we want to find the next Victor Osimhen, the heir apparent to Tobi Amusan, the protégés for Funke Oshonaike and Aruna Quadri, and many others,” Senator Enoh noted.

The Games will be held between

September 23 and 30, 2023, across multiple venues in the Delta State capital. Sports to feature at the Games include; athletics, basketball, cricket, chess, football, judo, golf, handball, scrabble, Taekwondo and volleyball.

Emir of Doma Hosts Zenith B’ball League Players in Lafia

The Emir of Doma, Dr. Aliyu Amadu, has called on the sponsors of the Women’s Basketball League in Nigeria, Zenith Bank, to do more for basketball in the country. He stated this while receiving all the teams and officials participating in the Second Phase of the Savannah Conference of the ongoing Zenith Bank Women’s Basketball League in Lafia, Nasarawa State yesterday.

The Emir who was a former basketball player appreciated the bank and the Nigeria Basketball Federation (NBBF) for allowing the state to host the national competition while assuring all the players and other visitors a great stay in the community.

The teams; Nigerian Customs, Nigerian Army, Air Warriors,

Nasarawa Amazons and Plateau Rocks alongside their officials and all the referees were at the Andoma Palace on a courtesy visit while also getting the royal blessings.

“I want to welcome the ladies, who made this tournament possible, you are welcome to Nasarawa State and Doma Kingdom, the only palace in Nigeria with a basketball court,” he said.

“I want to specifically appreciate Zenith Bank for facilitating this competition, we are hoping they will do more for basketball so that the day the NBA players will be coming, we will see their banner side by side with other sponsors and it will document what they have been doing for the game of

basketball in Nigeria.

The emir said that it was possible to bring NBA to Nigeria.

“We can bring NBA teams to Nigeria, we have hosted the World Cup in football, and other sports have been to Nigeria and basketball must have its place, all the other sports have been hosted and sponsored by the Nigeria government, they should do same with basketball. Several Nigerians are bringing fortunes from NBA, so why can't we bring the game here for our people? It will be on record that Nigeria have hosted superstars here.“

Meanwhile, Nigerian Customs Ladies whitewashed Nigerian Army 76-36 points yesterday to seal their qualification to the finals in Lagos.

FRIDAYSPORTS Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
38 FRIDAY, SE THISDAY
Liverpool players celebrating coming back from a goal down to beat LASK 3-1 in a UEFA Europa League game last night Victor Boniface...on target for Bayer Leverkusen EUROPA LEAGUE

walk in and walk out of that place with bags stuffed with money in a free-for-all”.

Really? So what was the reign of Tunde Sabiu Maman Daura and co, all about? Reminiscent of Buhari’s disastrous governance is the penchant for doubling down on the fantasy of alternate reality.

Responding to the annual report of Transparency International,TI, on it’s Corruption Perception Index, CPI, (which had truthfully and objectively adjudged Nigeria as sinking deeper in the cesspit of corruption), Garba Shehu argued “I’ll tell you that this one by TI is not a judgement on Buhari or his administration or its war against corruption, I will tell you that this one is judgement on Nigerians.” In anticipation of such tendentious self denials, the agency had clarified that its CPI ‘ranks countries and territories based on how corrupt their public sector is perceived to be’.

Let me speak of what I am personally privy to about their putative foe, Abubakar Dangiwa Umar. From 1999 to 2015, there has been no federal government that did not invite Umar to serve in one strategic capacity or another. I was at the dinner table where President Olusegun Obasanjo invited him to Ota to discuss the offer of a ministerial appointment. If memory serves me right, Umar demurred, and said something about not having the temperament for public appointment in Nigeria, that he was a nonconformist. Not one to easily give up, Obasanjo responded that this was precisely the kind of quality he wanted in his ministers. This encounter took place after the 2003 presidential election. Subsequently, Presidents Umaru Yar’adua and Goodluck Jonathan extended similar offers to him, all of which he declined.

At the level of theory, if you were a public spirited Nigerian President, would you not want Umar to be associated with your government? It is on record that he had no qualms turning his back on a choice posting (as military governor of Kaduna state that others would give an arm and a leg for), to pursue further education and enlightenment at the University of

cybersecurity and privacy. These virtual transactions require robust security measures to prevent fraud, hacking, unauthorised access to virtual assets, and phishing targeted at users and the infrastructure. As cybersecurity efforts prove effective in ensuring these virtual platforms remain secure, more users are likely to embrace digital payments, thereby popularising and sustaining the adoption of digital payment methods.

In conclusion, the transformative potential of the Metaverse suggests that businesses should be forward-thinking and strategically positioned to benefit from technological change. Especially for financial services firms, there is a pivotal role ahead in catering to the unique payment demands of this emergent virtual economy. With the horizon of the Metaverse economy in sight, the future of payment systems is, without a doubt, digital.

Dr. Ebenezer Onyeagwu is the Group Managing Director/CEO of Zenith Bank Plc and Chairman of the Body of Banks’ CEOs in Nigeria.

This opinion was first published in the Zenith Economic Quarterly Vol. 19 No. 3 July 2023, in his column “CEO Insight”.

Harvard. It was the same idealism that prompted him to initiate a ‘military coup’ in a suicidal mission to install the winner of the 1993 presidential election, Chief Moshood Abiola as duly elected President of Nigeria. It beats the imagination hollow, how the same personality can be distorted as a typical incontinent low life and notorious time server.

I think the occasion has come for us to breach confidentiality and disclose a sinister experience Umar had under the Buhari dispensation. On a flight to London, he had entrusted the check-in of his luggage to an immigration officer. On arrival at Heathrow Airport, border security officials invaded the plane to apprehend and whisk him away. Getting to the interrogation room, he found his luggage had been impounded. His attention was drawn to the cover of his suitcase which was laden with a powdery stuff, that turned out to be cocaine. The mystery deepened when the search of the inside compartment of the box failed to yield any trace of the substance. After subjecting him to all manners of indignities reserved for drug traffickers he was let go. Someone in Abuja had set him up. The incident occurred about five years ago. He had kept the horrific experience to himself but in a typical protective attitude, he had taken me to confidence and warned me to avoid the need to check in my luggage whenever I’m travelling. No one has framed national governance as primarily an avenue of tribal nepotism and corruption as Buhari did. l have not come to the conclusion, one way or another (whether Bola Ahmed Tinubu’s presidency is following in his predecessor’s ultra parochial footsteps). Nonetheless, there appears to have developed a muted regional (Islamic North) angst against the president, in respect of how he has constituted his apex political and administrative appointments. Not one to pass over the chance for scurrilous notoriety, Ishaq Akintola and his muric confederates had whined “We remind President Bola Ahmed Tinubu that all regions, faiths and sections deserve political appointments…The Tinubu administration must not be the exclusive

preserve of the Yorubas at the expense of other tribes, nor the monopoly of Rome at the expense of Madinah. No region must be sentenced to hunger, starvation and political isolation”. The appointments are said to be Yoruba heavy and other regions light. Some years ago, projecting from the unsurpassed nepotism of General Muhammadu Buhari, l had warned that efforts by his successors to restore and reinstate equity and fairness in federal appointments, will have the appearance of marginalising the North. Such was the magnitude of the political segregation that Buhari visited on Nigeria. In its penchant for divisive discrimination, the Buhari government exemplifies the logic of why Nigeria should not be a nation. Or that if it must remain a country, the prescription of federalism (devolution and decentralisation) is the irreducible minimum. He brought to vivid reality the dysfunction and damage that over centralisation of powers can wreak on Nigeria by a President of his specification. Suggestive of detachment from reality, Buhari, no doubt, entertains a delusion of grandeur in grading his presidency. Afterall, no amount of veracity could dissuade him from peddling the egregious lie that the average price per barrel of crude oil from 1999 to 2015, was one hundred dollars. He would even swear on the authority of the central bank governor and the group managing director of the Nigeria national petroleum corporation, NNPC to bear him witness.

In a left handed salute, one of the useful purposes the Buhari failure has served is the vindication of his successor as military head of state, President Ibrahim Babangida. The military president had been a victim of the Buhari myth, of the interpretation of his ouster of Buhari as tantamount to depriving Nigeria of a potential messiah. A similar set of victims are those Nigerians who fell for this myth and accordingly voted him to power in 2015. Rarely in history has there been a president who employed the totality of his tenure to destroy the mistaken notion of him as a man of integrity and why he should never have been elected president in the

first place. After eight horrid years of ruin and plunder, we now precisely understand why the late General Sani Abacha remains a role model for Buhari.

In retrospect, it now appears that the difference between truth and falsehood, between honesty and dishonesty, between integrity and lack of character is the difference between the man Nigerians thought they elected in 2015 and the Buhari of the past eight years. Prior to 2015, he enjoyed national and international acclaim as an anti-corruption crusader. At the time, this seemed a fair albeit generous assessment. Eight years of his presidency to the bargain, the man had launched a grenade to explode the myth of his abstemious frugality. Never call a man great until the end of his life, cautions the bard.

Former governor and former minister of aviation, Isa Yuguda, may not have had Buhari in mind when he went public with his committee report on the Nigerian national petroleum corporation, NNPC. Inter alia he said “I am sad to let Nigerians know what I saw; we came across situations where subsidy was claimed on pipelines that never existed.., they just fill papers, invoices and they claim subsidy on it” When asked again if it was indeed the NNPC that was making these claims, Yuguda replied in the affirmative. “Who else is doing it,”. Yet, Buhari was the minister of petroleum.

Days to drawing the curtains on his presidency, and so we would have no difficulty remembering the kind of president he was, Buhari committed Nigeria to the payment of a dubious and spurious judgement debts “The president said the judgement debts were awarded in different currencies which he summed up to $556,712,584,01; £98,526,013 and N226,280,801,801,64.

In view of the forgoing, I request the Senate to kindly consider and approve through its resolution, the settlement of the total judgement debts and general judgements incurred by the following MDS in the sum of USD five hundred and sixty six million, seven hundred and twelve thousand , five hundred and eighty four dollars , thirty one cent”.

FRIDAY, SEPTEMBER 22, 2023 • THISDAY 39 BUHARI VERSUS DANGIWA UMAR BACKPAGE CONTINUATION
THE EMERGING METAVERSE ECONOMY AND THE FUTURE OF PAYMENT SYSTEMS

Obasanjo to Apologetic Wife

“The attention of Chief Olusegun Obasanjo, has been drawn to a statement purported to be issued by a wife of the former President with the photograph of one Ms. Taiwo Martins as the author. For the records, Ms. Martins has two children...for Chief Obasanjo but to say emphatically that she is not his wife nor a member of the Obasanjo family. Her posturing as Chief Obasanjo’s wife is false and that of an impostor” –Chief Obasanjo, through his media aide, Kehinde Akinyemi, disowns the said apology, saying he stands by his position.

Buhari Versus Dangiwa Umar AKIN OSUNTOKUN

DIALOGUE WITH NIGERIA

“There has not been a single area that had not been touched by the Buhari government. We have seen massive positive changes in the last eight years..Bullies who attacked governments and ‘something dropped’ will continue to antagonize Buhari borne of anger from lost opportunities. A certain Buhari “critic” who served a military governor in one of the Northern states, even his underwear was bought from government coffers”.

“When they came in they freed thieves, robbers and receivers of stolen goods and even gave them a working capital! “Within a few weeks, crime returned to Kaduna, and yes, the other places and he has the effrontery to speak as he did…How many of these people do you think were happy when President Buhari said “no more free money. Buhari said money in National Security Agencies is for security. Lazy men and women who can’t work cannot

GUEST COLUMNIST

Glorious Dawn: Full Text Of President Tinubu’s Address To Nigerians. I assure you my fellow country men and women that we are exiting the darkness to enter a new and glorious dawn”. Should the president expect the Abubakar Umar treatment from you?

their masquerade”-

Garba Shehu

just walk in and walk out of that place with bags stuffed with money in a free-for-all..These ones have nothing to teach anyone. President Tinubu, a wise politician will equally see through Continued

Hello, Mr. Shehu, here is a reality check. This is precisely what President Bola Ahmed Tinubu thinks of your principal “After Darkness Comes The

It was a bad idea, to begin with. Unless it was intended as a deliberate lapse into vulgar, uncouth and gutter snipe sensationalism. It could also mean a demonstration of the trademark incompetence for which Buhari was notorious, even in joining issues with critics. It is difficult to understand why a supposedly well meaning subordinate will set up his principal as a strawman (fit for demolition), by crediting him with qualities he abundantly possesses in the breach. Knowing fully well that the former President is a parody of such citations like “We have seen massive positive changes in the last eight years… no more free money. Lazy men and women who can’t work cannot just

The Emerging Metaverse Economy and the Future of Payment Systems

When Neal Stephenson first postulated the idea of humans interacting in a three-dimensional virtual space in his 1992 science fiction novel “Snow Crash”, many deemed it unrealistic and futuristic. Such scepticism arose from the era’s technological limitations, where the tools to build a fully immersive digital world were largely in their infancy. However, with the rapid technological advancements witnessed in recent years – the proliferation of the internet; breakthroughs in blockchain, cloud computing, artificial intelligence (AI) and virtual/augmented reality (VR/ AR); and the growth of digital social platforms – the dream of a complete Metaverse is nearing actualisation.

Currently, the Metaverse is in its early phases. Its definition remains somewhat elusive, without universal

agreement. However, at its heart, it is a vast virtual space made possible by the union of the aforementioned technologies. It represents a fusion of our physical and digital realities, crafting a distinct and immersive 3D setting for human connection. And while its exact definition may be debated, there is a growing consensus about its potential to profoundly revolutionise human interactions. Indeed, at its full-scale realisation, the Metaverse will alter how humans interact with each other and engage in activities like working, socialising, playing and shopping within the digital space. This transformative impact is expected to unlock a wide range of economic opportunities across various sectors.

A June 2022 report from the McKinsey Global Institute (MGI) suggested that value creation in the Metaverse could reach $5 trillion by 2030. Specifically, MGI estimates an economic impact

of up to $2.6 trillion on e-commerce, around $270 billion on the academic virtual learning market, about $206 billion impact on the advertising market and nearly $125 billion impact on the gaming market, amongst other sectors. It is also noteworthy that corporate giants like Meta, Roblox, and Microsoft reportedly invested roughly $177 billion into Metaverse development from 2021 to mid-2022. As businesses and consumers look towards the Metaverse, we see the dawn of a new virtual economy. Much like our traditional economies, this budding digital counterpart will encompass transactions of virtual goods, digital assets, experiences, and services, ranging from virtual real estate, digital art, in-game items, virtual fashion, virtual events, and even virtual jobs.

According to research conducted by Gartner in 2022, about 30 per cent of global brands will have metaverse-ready goods and services by 2026.

The rise of the Metaverse economy undeniably signals vast implications, notably for the financial services sector. One major transformation will be in the realm of payment systems, causing a further shift from traditional to digital payment. Put differently, the Metaverse economy could further popularise and normalise virtual currencies such as cryptocurrencies, Central Bank Digital Currencies (CBDCs), Non-Fungible Tokens (NFTs), etc. Payment service providers will focus on developing the digital payment value chain – virtual currencies, cross-border payment platforms, virtual wallets, and requisite technologies such as blockchain and Decentralised Finance (DeFi).

With the Metaverse setting the stage for digital payments as the norm, investment and focus will naturally gravitate towards bolstering

Continued on page 39

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akinosuntokun@thisdaylive.com EBENEZER ONYEAGWU

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